Document:

Indenture, dated as of December 22, 2004

  
 Exhibit 4.1 

 
 EXECUTION COPY  
  

  
 CHURCH & DWIGHT CO., INC. 
  
 6.00% Senior Subordinated Notes due 2012 
  

  
 INDENTURE 
  
 Dated as of December 22, 2004 
  

  
 THE BANK OF NEW YORK,

  
 as Trustee 
  

  
 Table of Contents

  

					
	 	 	 	  	Page

	 ARTICLE 1
 Definitions and Incorporation by Reference

			
	 SECTION 1.01.
	 	 Definitions
	  	1
	 SECTION 1.02.
	 	 Other Definitions
	  	28
	 SECTION 1.03.
	 	 Incorporation by Reference of Trust Indenture Act
	  	29
	 SECTION 1.04.
	 	 Rules of Construction
	  	29
	
	 ARTICLE 2
 The Securities

			
	 SECTION 2.01.
	 	 Amount of Securities
	  	30
	 SECTION 2.02.
	 	 Form and Dating
	  	31
	 SECTION 2.03.
	 	 Execution and Authentication
	  	31
	 SECTION 2.04.
	 	 Registrar and Paying Agent
	  	31
	 SECTION 2.05.
	 	 Paying Agent to Hold Money in Trust
	  	32
	 SECTION 2.06.
	 	 Holder Lists
	  	32
	 SECTION 2.07.
	 	 Transfer and Exchange
	  	33
	 SECTION 2.08.
	 	 Replacement Securities
	  	33
	 SECTION 2.09.
	 	 Outstanding Securities
	  	34
	 SECTION 2.10.
	 	 Temporary Securities
	  	34
	 SECTION 2.11.
	 	 Cancellation
	  	34
	 SECTION 2.12.
	 	 Defaulted Interest
	  	35
	 SECTION 2.13.
	 	 CUSIP, ISIN and Common Code Numbers
	  	35
	 SECTION 2.14.
	 	 Computation of Interest
	  	35
	
	 ARTICLE 3
 Redemption

			
	 SECTION 3.01.
	 	 Notices to Trustee
	  	35
	 SECTION 3.02.
	 	 Selection of Securities To Be Redeemed
	  	35
	 SECTION 3.03.
	 	 Notice of Redemption
	  	36
	 SECTION 3.04.
	 	 Effect of Notice of Redemption
	  	37
	 SECTION 3.05.
	 	 Deposit of Redemption Price
	  	37
	 SECTION 3.06.
	 	 Securities Redeemed in Part
	  	37
	
	 ARTICLE 4
 Covenants

			
	 SECTION 4.01.
	 	 Payment of Securities
	  	37
	 SECTION 4.02.
	 	 SEC Reports
	  	38
	 SECTION 4.03.
	 	 Limitation on Indebtedness
	  	38
	 SECTION 4.04.
	 	 Limitation on Restricted Payments
	  	43

  

 (i) 

					
	 SECTION 4.05.
	 	 Limitation on Restrictions on Distributions from Restricted Subsidiaries
	  	46
	 SECTION 4.06.
	 	 Limitation on Sales of Assets and Subsidiary Stock
	  	48
	 SECTION 4.07.
	 	 Limitation on Transactions with Affiliates
	  	52
	 SECTION 4.08.
	 	 Change of Control
	  	53
	 SECTION 4.09.
	 	 Compliance Certificate
	  	55
	 SECTION 4.10.
	 	 Further Instruments and Acts
	  	56
	 SECTION 4.11.
	 	 Future Subsidiary Guarantors
	  	56
	 SECTION 4.12.
	 	 Limitation on the Sale or Issuance of Preferred Stock of Restricted Subsidiaries
	  	56
	 SECTION 4.13.
	 	 Maintenance of Office or Agency
	  	56
	 SECTION 4.14.
	 	 Corporate Existence
	  	56
	 SECTION 4.15.
	 	 Payment of Taxes and Other Claims
	  	57
	
	 ARTICLE 5
 Successor Company

			
	 SECTION 5.01.
	 	 When Company May Merge or Transfer Assets
	  	57
	
	 ARTICLE 6
 Defaults and Remedies

			
	 SECTION 6.01.
	 	 Events of Default
	  	59
	 SECTION 6.02.
	 	 Acceleration
	  	60
	 SECTION 6.03.
	 	 Other Remedies
	  	61
	 SECTION 6.04.
	 	 Waiver of Past Defaults
	  	61
	 SECTION 6.05.
	 	 Control by Majority
	  	61
	 SECTION 6.06.
	 	 Limitation on Suits
	  	61
	 SECTION 6.07.
	 	 Rights of Holders to Receive Payment
	  	62
	 SECTION 6.08.
	 	 Collection Suit by Trustee
	  	62
	 SECTION 6.09.
	 	 Trustee May File Proofs of Claim
	  	62
	 SECTION 6.10.
	 	 Priorities
	  	63
	 SECTION 6.11.
	 	 Undertaking for Costs
	  	63
	 SECTION 6.12.
	 	 Waiver of Stay or Extension Laws
	  	63
	
	 ARTICLE 7
 Trustee

			
	 SECTION 7.01.
	 	 Duties of Trustee
	  	63
	 SECTION 7.02.
	 	 Rights of Trustee
	  	64
	 SECTION 7.03.
	 	 Individual Rights of Trustee
	  	66
	 SECTION 7.04.
	 	 Trustee’s Disclaimer
	  	66
	 SECTION 7.05.
	 	 Notice of Defaults
	  	66
	 SECTION 7.06.
	 	 Reports by Trustee to Holders
	  	66
	 SECTION 7.07.
	 	 Compensation and Indemnity
	  	66
	 SECTION 7.08.
	 	 Replacement of Trustee
	  	67
	 SECTION 7.09.
	 	 Successor Trustee by Merger
	  	68

  

 (ii) 

					
	 SECTION 7.10.
	 	 Eligibility; Disqualification
	  	68
	 SECTION 7.11.
	 	 Preferential Collection of Claims Against Company
	  	69
	
	 ARTICLE 8
 Discharge of Indenture; Defeasance

			
	 SECTION 8.01.
	 	 Discharge of Liability on Securities; Defeasance
	  	69
	 SECTION 8.02.
	 	 Conditions to Defeasance
	  	70
	 SECTION 8.03.
	 	 Application of Trust Money
	  	71
	 SECTION 8.04.
	 	 Repayment to Company
	  	71
	 SECTION 8.05.
	 	 Indemnity for Government Obligations
	  	72
	 SECTION 8.06.
	 	 Reinstatement
	  	72
	
	 ARTICLE 9
 Amendments

			
	 SECTION 9.01.
	 	 Without Consent of Holders
	  	72
	 SECTION 9.02.
	 	 With Consent of Holders
	  	73
	 SECTION 9.03.
	 	 Compliance with Trust Indenture Act
	  	74
	 SECTION 9.04.
	 	 Revocation and Effect of Consents and Waivers
	  	74
	 SECTION 9.05.
	 	 Notation on or Exchange of Securities
	  	75
	 SECTION 9.06.
	 	 Trustee to Sign Amendments
	  	75
	 SECTION 9.07.
	 	 Payment for Consent
	  	75
	
	 ARTICLE 10
 Subordination

			
	 SECTION 10.01.
	 	 Agreement To Subordinate
	  	75
	 SECTION 10.02.
	 	 Liquidation, Dissolution, Bankruptcy
	  	76
	 SECTION 10.03.
	 	 Default on Senior Indebtedness
	  	76
	 SECTION 10.04.
	 	 Acceleration of Payment of Securities
	  	77
	 SECTION 10.05.
	 	 When Distribution Must Be Paid Over
	  	77
	 SECTION 10.06.
	 	 Subrogation
	  	77
	 SECTION 10.07.
	 	 Relative Rights
	  	77
	 SECTION 10.08.
	 	 Subordination May Not Be Impaired by Company
	  	78
	 SECTION 10.09.
	 	 Rights of Trustee and Paying Agent
	  	78
	 SECTION 10.10.
	 	 Distribution or Notice to Representative
	  	78
	 SECTION 10.11.
	 	 Article 10 Not To Prevent Events of Default or Limit Right To Accelerate
	  	78
	 SECTION 10.12.
	 	 Trust Monies Not Subordinated
	  	78
	 SECTION 10.13.
	 	 Trustee Entitled To Rely
	  	78
	 SECTION 10.14.
	 	 Trustee To Effectuate Subordination
	  	79
	 SECTION 10.15.
	 	 Trustee Not Fiduciary for Holders of Senior Indebtedness
	  	79
	 SECTION 10.16.
	 	 Reliance by Holders of Senior Indebtedness on Subordination Provisions
	  	79

  

 (iii) 

					
	 ARTICLE 11
 Subsidiary Guarantees

			
	 SECTION 11.01.
	 	 Subsidiary Guarantees
	  	79
	 SECTION 11.02.
	 	 Limitation on Liability
	  	82
	 SECTION 11.03.
	 	 Successors and Assigns
	  	83
	 SECTION 11.04.
	 	 No Waiver
	  	83
	 SECTION 11.05.
	 	 Right of Contribution
	  	83
	 SECTION 11.06.
	 	 No Subrogation
	  	83
	 SECTION 11.07.
	 	 Execution of Supplemental Indenture for Future Subsidiary Guarantors
	  	83
	 SECTION 11.08.
	 	 Non-Impairment
	  	84
	
	 ARTICLE 12
 Subordination of the Subsidiary Guarantees

			
	 SECTION 12.01.
	 	 Agreement To Subordinate
	  	84
	 SECTION 12.02.
	 	 Liquidation, Dissolution, Bankruptcy
	  	84
	 SECTION 12.03.
	 	 Default on Senior Indebtedness of a Subsidiary Guarantor
	  	85
	 SECTION 12.04.
	 	 Demand for Payment
	  	86
	 SECTION 12.05.
	 	 When Distribution Must Be Paid Over
	  	86
	 SECTION 12.06.
	 	 Subrogation
	  	86
	 SECTION 12.07.
	 	 Relative Rights
	  	86
	 SECTION 12.08.
	 	 Subordination May Not Be Impaired by a Subsidiary Guarantor
	  	87
	 SECTION 12.09.
	 	 Rights of Trustee and Paying Agent
	  	87
	 SECTION 12.10.
	 	 Distribution or Notice to Representative
	  	87
	 SECTION 12.11.
	 	 Article 12 Not To Prevent Events of Default or Limit Right To Accelerate
	  	87
	 SECTION 12.12.
	 	 Defeasance
	  	87
	 SECTION 12.13.
	 	 Trustee Entitled To Rely
	  	88
	 SECTION 12.14.
	 	 Trustee To Effectuate Subordination
	  	88
	 SECTION 12.15.
	 	 Trustee Not Fiduciary for Holders of Senior Indebtedness of a Subsidiary Guarantor
	  	88
	 SECTION 12.16.
	 	 Reliance by Holders of Senior Indebtedness of a Subsidiary Guarantor on Subordination Provisions
	  	88
	
	 ARTICLE 13
 Miscellaneous

			
	 SECTION 13.01.
	 	 Trust Indenture Act Controls
	  	89
	 SECTION 13.02.
	 	 Notices
	  	89
	 SECTION 13.03.
	 	 Communication by Holders with Other Holders
	  	90
	 SECTION 13.04.
	 	 Certificate and Opinion as to Conditions Precedent
	  	90
	 SECTION 13.05.
	 	 Statements Required in Certificate or Opinion
	  	90
	 SECTION 13.06.
	 	 When Securities Disregarded
	  	90
	 SECTION 13.07.
	 	 Rules by Trustee, Paying Agent and Registrar
	  	90
	 SECTION 13.08.
	 	 Legal Holidays
	  	91

  

 (iv) 

					
	 SECTION 13.09.
	 	 GOVERNING LAW
	  	91
	 SECTION 13.10.
	 	 No Recourse Against Others
	  	91
	 SECTION 13.11.
	 	 Successors
	  	91
	 SECTION 13.12.
	 	 Multiple Originals
	  	91
	 SECTION 13.13.
	 	 Qualification of Indenture
	  	91
	 SECTION 13.14.
	 	 Table of Contents; Headings
	  	91

  

					
	 Appendix A
	  	-	  	 Provisions Relating to Initial Securities, Additional Securities and Exchange Securities

	Exhibit A	  	-	  	 Form of Initial Security and any Additional Security that is a Transfer Restricted Security

	Exhibit B	  	-	  	 Form of Exchange Security and any Additional Security that is not a Transfer Restricted Security

	Exhibit C	  	-	  	 Form of Supplemental Indenture

	Exhibit D	  	-	  	 Form of Transferee Letter of Representation

  

 (v) 

  
 CROSS-REFERENCE TABLE

  

			
	 TIA
 Section

	  	Indenture
Section

	 310(a)(1)
	  	7.10
	       (a)(2)
	  	7.10
	       (a)(3)
	  	N.A.
	       (a)(4)
	  	N.A.
	       (a)(5)
	  	7.10
	       (b)
	  	7.03; 7.08; 7.10
	       (c)
	  	N.A.
	 311(a)
	  	7.11
	       (b)
	  	7.11
	       (c)
	  	N.A.
	 312(a)
	  	2.06
	       (b)
	  	13.03
	       (c)
	  	13.03
	 313(a)
	  	7.06
	       (b)(1)
	  	N.A.
	       (b)(2)
	  	7.06
	       (c)
	  	7.06
	       (d)
	  	7.06
	 314(a)
	  	4.02; 4.09
	       (b)
	  	N.A.
	       (c)(1)
	  	13.04
	       (c)(2)
	  	13.04
	       (c)(3)
	  	N.A.
	       (d)
	  	N.A.
	       (e)
	  	13.05
	 315(a)
	  	7.01
	       (b)
	  	7.05; 13.02
	       (c)
	  	7.01
	       (d)
	  	7.01
	       (e)
	  	6.11
	 316(a)(last sentence)
	  	13.06
	       (a)(1)(A)
	  	6.05
	       (a)(1)(B)
	  	6.04
	       (a)(2)
	  	N.A.
	       (b)
	  	6.07
	       (c)
	  	9.04
	 317(a)(1)
	  	6.08
	       (a)(2)
	  	6.09
	       (b)
	  	2.05
	 318(a)
	  	13.01

  
 N.A. means Not Applicable. 

 
 Note: This Cross-Reference Table shall not, for any purpose, be deemed to be part of this
Indenture. 
  

  
 INDENTURE dated as of
December 20, 2004, between Church & Dwight Co., Inc., a Delaware corporation (the “Company”), Church & Dwight Company, a Wyoming corporation, as a Subsidiary Guarantor (as defined herein), the other Subsidiary Guarantors
from time to time parties hereto and The Bank of New York, a New York banking corporation, as trustee (the “Trustee”). 
  
 Each party agrees as follows for the benefit of the other parties and for the equal and ratable benefit of the Holders of (a) the Company’s 6.00%
Senior Subordinated Notes due 2012 issued on the date hereof (the “Initial Securities”), (b) any Additional Securities (as defined herein) that may be issued from time to time after the Closing Date in a non-registered offering or a
registered offering of the Company and (c) if and when issued as provided in the Registration Rights Agreement (as defined in Appendix A hereto (the “Appendix”)), the Company’s 6.00% Senior Subordinated Notes due 2012 issued in
a Registered Exchange Offer in exchange for any Initial Securities or Additional Securities (collectively, the “Exchange Securities” and, together with the Initial Securities and the Additional Securities, the
“Securities”). 
  
 ARTICLE 1 
  
 DEFINITIONS AND INCORPORATION BY REFERENCE 
  
 SECTION 1.01. Definitions. 
  
 “Additional Assets” means: 
  

	 	(1)	any property or assets (other than Indebtedness and Capital Stock) to be used by the Company or a Restricted Subsidiary in a Permitted Business; or 

  

	 	(2)	the Capital Stock of a Restricted Subsidiary or of a Person that becomes a Restricted Subsidiary in a Permitted Business as a result of the acquisition of such Capital Stock by the
Company or another Restricted Subsidiary. 

  
 “Additional Securities” means any 6.00% Senior Subordinated Notes due 2012 issued under the terms of this Indenture subsequent to the Closing Date. 
  
 “Adjusted EBITDA” means, for any period, without duplication, the Consolidated Net Income for such period,
plus the following to the extent deducted in calculating such Consolidated Net Income: (i) provision for all taxes (whether or not paid, estimated or accrued) based on income, profits or capital, (ii) Consolidated Interest Expense, (iii)
consolidated depreciation and amortization, (iv) any expenses or charges related to any Equity Offering, Investment or Indebtedness permitted by this Indenture (whether or not consummated or incurred) and (v) the amount of any minority interest
expense. 
  
 Notwithstanding the preceding sentence, clauses (i),
(iii) or (iv) relating to amounts of a Restricted Subsidiary of a Person shall be added to Consolidated Net Income to compute Adjusted EBITDA of such Person only to the extent (and in the same proportion) that the net income (loss) of such
Restricted Subsidiary was included in calculating the Consolidated 

  

 
Net Income of such Person and, to the extent the amounts set forth in clauses (i), (iii) or (iv) are in excess of those necessary to offset a net loss of
such Restricted Subsidiary or if such Restricted Subsidiary has net income for such period included in Consolidated Net Income, only if a corresponding amount would have been permitted during such period to be paid as a dividend or other
distribution to such Person by such Restricted Subsidiary without prior approval (that has not been obtained), pursuant to the terms of its charter and all agreements, instruments, judgments, decrees, orders, statutes, rules and governmental
regulations applicable to that Restricted Subsidiary or its stockholders. 
  
 “Affiliate” of any specified Person means any other Person, directly or indirectly, controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes
of this definition, “control” when used with respect to any Person means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise;
and the terms “controlling” and “controlled” have meanings correlative to the foregoing. For purposes of Section 4.07 only, “Affiliate” shall also mean any beneficial owner of shares representing 10% or more of
the total voting power of the Voting Stock (on a fully diluted basis) of the Company or of rights or warrants to purchase such Voting Stock (whether or not currently exercisable) and any Person who would be an Affiliate of any such beneficial owner
pursuant to the first sentence hereof. 
  
 “Asset
Disposition” means any sale, lease, transfer or other disposition (or series of related sales, leases, transfers or dispositions) by the Company or any Restricted Subsidiary, including any disposition by means of a merger, consolidation, or
similar transaction (each referred to for the purposes of this definition as a “disposition”), of: 
  

	 	(1)	any shares of Capital Stock of a Restricted Subsidiary (other than directors’ qualifying shares or shares required by applicable law to be held by a Person other than the
Company or a Restricted Subsidiary), 

  

	 	(2)	all or substantially all the assets of any division or line of business of the Company or any Restricted Subsidiary, or 

  

	 	(3)	any other assets of the Company or any Restricted Subsidiary outside of the ordinary course of business of the Company or such Restricted Subsidiary, 

  
 other than, in the case of (1), (2) and (3) above, 
  

	 	(A)	a disposition by a Restricted Subsidiary to the Company or to another Restricted Subsidiary (other than a Receivables Entity) or by the Company to a Restricted Subsidiary (other
than a Receivables Entity), 

  

	 	(B)	for purposes of Section 4.06 only, the making of a Permitted Investment or a disposition subject to Section 4.04, 

  

	 	(C)	 any transaction or series of transactions for which the Company or its Restricted Subsidiaries receive aggregate consideration in any calendar 

  

 2 

	 	 
year of less than $5 million (with unused amounts in any calendar year being carried over to the next succeeding calendar year subject to a maximum of $10
million in such next succeeding calendar year), 

  

	 	(D)	the sale, lease, conveyance, disposition or other transfer of all or substantially all of the assets of the Company as permitted under Section 5.01, 

  

	 	(E)	the sale or discount, in each case without recourse, of accounts receivable arising in the ordinary course of business, but only in connection with the compromise or collection
thereof, 

  

	 	(F)	the factoring of accounts receivable arising in the ordinary course of business pursuant to arrangements customary in the industry, 

  

	 	(G)	the licensing of intellectual property, 

  

	 	(H)	disposals or replacements of obsolete equipment in the ordinary course of business, 

  

	 	(I)	transfers of accounts receivable and related assets of the type specified in the definition of “Qualified Receivables Transaction” (or a fractional undivided
interest therein) to a Receivables Entity in a Qualified Receivables Transaction and 

  

	 	(J)	leases or subleases to third persons not interfering in any material respect with the business of the Company or any of its Restricted Subsidiaries. 

  
 “Average Life” means, as of the date of determination, with
respect to any Indebtedness or Preferred Stock, the quotient obtained by dividing: 
  

	 	(1)	the sum of the products of the numbers of years from the date of determination to the dates of each successive scheduled principal payment of such Indebtedness or scheduled
redemption or similar payment with respect to such Preferred Stock multiplied by the amount of such payment by 

  

	 	(2)	the sum of all such payments. 

  
 “Bank Indebtedness” means any and all amounts payable under or in respect of the Credit Agreement and any Refinancing Indebtedness with
respect thereto, as amended from time to time, and any related notes, collateral documents, letters of credit and guarantees and any Interest Rate Agreement entered into in connection with the Credit Agreement including principal, premium (if any),
interest (including interest accruing on or after the filing of any petition in bankruptcy or for reorganization relating to the Company or any Subsidiary whether or not a claim for post-filing interest is allowed in such proceedings), fees,
charges, expenses, reimbursement obligations, guarantees and all other amounts payable thereunder or in respect 

  

 3 

 
thereof. It is understood and agreed that Refinancing Indebtedness in respect of the Credit Agreement may be Incurred from time to time after termination of
the Credit Agreement. 
  
 “Board of Directors”
means, as to any Person, the board of directors of such Person or any duly authorized committee thereof. 
  
 “Business Day” means each day which is not a Legal Holiday. 
  
 “Capital Stock” of any Person means any and all shares, interests, rights to purchase, warrants, options,
participations or other equivalents of or interests in (however designated) equity of such Person, including any Preferred Stock, but excluding any debt securities convertible into such equity. 
  
 “Capitalized Lease Obligations” means an obligation that is
required to be classified and accounted for as a capital lease for financial reporting purposes in accordance with GAAP, and the amount of Indebtedness represented by such obligation shall be the amount of such obligation required to be reflected as
a liability on a balance sheet prepared in accordance with GAAP; and the Stated Maturity thereof shall be the date of the last payment of rent or any other similar amount due under such lease prior to the first date upon which such lease may be
prepaid by the lessee without payment of a penalty. 
  
 “Change of Control” means any of the following events: 
  

	 	(1)	any “person” or “group” of related persons (as such terms are used in Sections 13 (d) and 14 (d) of the Exchange Act), is or becomes the
“beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the total voting power of the Voting Stock of the Company; 

  

	 	(2)	during any period of two consecutive years, individuals who at the beginning of such period constituted the Board of Directors of the Company (together with any new individuals
whose election by such Board of Directors of the Company or whose nomination for election by the shareholders of the Company was approved by a vote of a majority of the individuals of the Company then still in office who were either on the Board of
Directors at the beginning of such period or whose election or nomination for election was previously so approved) cease for any reason to constitute a majority of the Board of Directors of the Company; 

  

	 	(3)	the adoption of a plan relating to the liquidation or dissolution of the Company; or 

  

	 	(4)	the Company sells or transfers (other than by way of merger or consolidation), in one or a series of related transactions, all or substantially all of the assets of the Company and
its Restricted Subsidiaries to, any “person” (as defined in clause (1) above). 

  
 “Closing Date” means the date of this Indenture. 
  

 4 

 “Code” means the Internal Revenue Code of 1986, as amended. 
  
 “Company” means the party named as such in this Indenture
until a successor replaces it and, thereafter, means the successor and, for purposes of any provision contained herein and required by the TIA, each other obligor on the indenture securities. 
  
 “Consolidated Coverage Ratio” as of any date of
determination means the ratio of (i) the aggregate amount of Adjusted EBITDA of the Company and its Restricted Subsidiaries for the period of the most recent four consecutive fiscal quarters ending prior to the date of such determination for which
consolidated financial statements of the Company are available to (ii) Consolidated Interest Expense for such four fiscal quarters, subject and giving effect to the following adjustments: 
  

	 	(1)	Incurrence of Indebtedness. If since the beginning of such period the Company or any Restricted Subsidiary has Incurred any Indebtedness that remains outstanding on such date
of determination or if the transaction giving rise to the need to calculate the Consolidated Coverage Ratio is an Incurrence of Indebtedness, Adjusted EBITDA and Consolidated Interest Expense for such period shall be calculated after giving effect
on a pro forma basis to such Indebtedness as if such Indebtedness had been Incurred on the first day of such period (except that in making such computation, the amount of Indebtedness under any revolving credit facility outstanding on the date of
such calculation shall be computed based on (A) the average daily balance of such Indebtedness during such four fiscal quarters or such shorter period for which such facility was outstanding or (B) if such facility was created after the end of such
four fiscal quarters, the average daily balance of such Indebtedness during the period from the date of creation of such facility to the date of such calculation). 

  

	 	(2)	Discharge of Indebtedness. If since the beginning of such period the Company or any Restricted Subsidiary has repaid, repurchased, redeemed, defeased or otherwise acquired,
retired or discharged any Indebtedness (each, a “Discharge”) or if the transaction giving rise to the need to calculate the Consolidated Coverage Ratio involves a Discharge of Indebtedness (in each case other than Indebtedness
Incurred under any revolving credit facility unless such Indebtedness has been permanently repaid), Adjusted EBITDA and Consolidated Interest Expense for such period shall be calculated after giving effect on a pro forma basis to such Discharge of
such Indebtedness, including with the proceeds of such new Indebtedness, as if such Discharge had occurred on the first day of such period. 

  

	 	(3)	 Sales. If since the beginning of such period the Company or any Restricted Subsidiary shall have made any Asset Disposition or disposed of any company, any
business or any group of assets constituting an operating unit of a business (any such disposition, a “Sale”), the Adjusted EBITDA 

  

 5 

	 	 
for such period shall be reduced by an amount equal to the Adjusted EBITDA (if positive) attributable to the assets that are the subject of such Sale for
such period or increased by an amount equal to the Adjusted EBITDA (if negative) attributable thereto for such period and Consolidated Interest Expense for such period shall be reduced by an amount equal to (A) the Consolidated Interest Expense
attributable to any Indebtedness of the Company or any Restricted Subsidiary repaid, repurchased, redeemed, defeased or otherwise acquired, retired or discharged with respect to the Company and its continuing Restricted Subsidiaries in connection
with such Sale for such period (including but not limited to through the assumption of such Indebtedness by another Person) plus (B) if the Capital Stock of any Restricted Subsidiary is sold, the Consolidated Interest Expense for such period
attributable to the Indebtedness of such Restricted Subsidiary to the extent the Company and its continuing Restricted Subsidiaries are no longer liable for such Indebtedness after such Sale. 

  

	 	(4)	Purchase. If since the beginning of such period the Company or any Restricted Subsidiary (by merger, consolidation or otherwise) shall have made an Investment in a Restricted
Subsidiary or any Person that thereby becomes a Restricted Subsidiary or is merged with or into the Company, or otherwise acquired all or substantially all of any company, any business or any group of assets constituting an operating unit of a
business, including any such Investment or acquisition occurring in connection with a transaction causing a calculation to be made hereunder (any such Investment or acquisition, a “Purchase”), Adjusted EBITDA and Consolidated
Interest Expense for such period shall be calculated after giving pro forma effect thereto (including the Incurrence of any related Indebtedness), as if such Purchase occurred on the first day of such period. 

  

	 	(5)	Adjustments for Acquired Person. If since the beginning of such period any Person became a Restricted Subsidiary or was merged or consolidated with or into the Company or any
Restricted Subsidiary, and since the beginning of such period such Person shall have Discharged any Indebtedness or made any Sale or Purchase that would have required an adjustment pursuant to clause (2), (3) or (4) above if made by the Company or a
Restricted Subsidiary during such period, Adjusted EBITDA and Consolidated Interest Expense for such period shall be calculated after giving pro forma effect thereto as if such Discharge, Sale or Purchase occurred on the first day of such period.

  
 For purposes of this definition, whenever pro
forma effect is to be given to any Sale, Purchase or other transaction, or the amount of income or earnings relating thereto and the amount of Consolidated Interest Expense associated with any Indebtedness Incurred or repaid, repurchased, redeemed,
defeased or otherwise acquired, retired or discharged in connection therewith, the pro forma calculations in respect thereof (including without limitation in respect of pro forma expense and anticipated cost savings or synergies relating to any such
Sale, Purchase 

  

 6 

 
or other transaction) shall be as determined in good faith by a responsible financial or accounting Officer of the Company. If any Indebtedness bears a
floating rate of interest and is being given pro forma effect, the interest expense on such Indebtedness shall be calculated as if the rate in effect on the date of determination had been the applicable rate for the entire period (taking into
account any Interest Rate Agreement applicable to such Indebtedness to the extent of the remaining term of such Interest Rate Agreement). If any Indebtedness bears, at the option of the Company or a Restricted Subsidiary, a rate of interest based on
a prime or similar rate, a eurocurrency interbank offered rate or other fixed or floating rate, and such Indebtedness is being given pro forma effect, the interest expense on such Indebtedness shall be calculated by applying such optional rate as
the Company or such Restricted Subsidiary may designate. If any Indebtedness that is being given pro forma effect was Incurred under a revolving credit facility, the interest expense on such Indebtedness shall be computed based upon the average
daily balance of such Indebtedness during the applicable period. Interest on a Capitalized Lease Obligation shall be deemed to accrue at an interest rate determined in good faith by a responsible financial or accounting officer of the Company to be
the rate of interest implicit in such Capitalized Lease Obligation in accordance with GAAP. 
  
 “Consolidated Interest Expense” means, for any period, (i) the total interest expense of the Company and its Restricted Subsidiaries, whether paid or accrued, to the extent deducted in calculating
Consolidated Net Income, net of any interest income of the Company and its Restricted Subsidiaries, including without limitation any such interest expense consisting of (a) interest expense attributable to Capitalized Lease Obligations, (b)
amortization of debt discount and debt issuance cost (provided that any amortization of bond premium shall be credited to reduce Consolidated Interest Expense unless, pursuant to GAAP, such amortization of bond premium has otherwise reduced
Consolidated Interest Expense), (c) the interest portion of any deferred payment obligation, (d) commissions, discounts and other fees and charges owed with respect to letters of credit and bankers’ acceptance financing, (e) to the extent not
otherwise included in such interest expense, Receivables Fees, (f) non-cash interest expense, (g) the interest expense on Indebtedness of another Person that is Guaranteed by such Person or one of its Restricted Subsidiaries or secured by a Lien on
assets of such Person or one of its Restricted Subsidiaries, (h) net payments associated with Hedging Obligations, provided, however, that if Hedging Obligations result in net receipts rather than net payments, such net receipts shall be
credited to reduce Consolidated Interest Expense unless, pursuant to GAAP, such net receipts are otherwise reflected in Consolidated Net Income, (i) the consolidated interest expense of such Person and its Restricted Subsidiaries that was
capitalized during such period and (j) the cash contributions to any employee stock ownership plan or similar trust to the extent such contributions are used by such plan or trust to pay interest or fees to any Person (other than the Company) in
connection with Indebtedness Incurred by such plan or trust plus (ii) Preferred Stock dividends paid in cash in respect of Disqualified Stock of the Company or in respect of any Preferred Stock of Restricted Subsidiaries held by Persons other
than the Company or a Restricted Subsidiary and minus (iii) to the extent otherwise included in such interest expense, amortization or write-off of financing costs, in each case under clauses (i) through (iii) as determined on a Consolidated
basis in accordance with GAAP. 
  
 For the purpose of calculating
the Consolidated Coverage Ratio in connection with the Incurrence of any Indebtedness described in the final paragraph of the definition of “Indebtedness,” the calculation of Consolidated Interest Expense shall include all interest 

  

 7 

 
expense (including any amounts described in clause (i) above) relating to any Indebtedness of the Company or any Restricted Subsidiary described in the final
paragraph of the definition of “Indebtedness.” 
  
 “Consolidated Net Income” means, for any period, the net income (loss) of the Company and its Restricted Subsidiaries, determined on a consolidated basis in accordance with GAAP and before any reduction in respect of
Preferred Stock dividends; provided, that there shall not be included in such Consolidated Net Income: 
  

	 	(1)	any net income of any Person if such Person is not a Restricted Subsidiary or is accounted for by the equity method of accounting, except that the Company’s equity in the net
income (but not loss) of any such Person for such period shall be included in such Consolidated Net Income up to the aggregate amount actually distributed by such Person during such period to the Company or a Restricted Subsidiary as a dividend or
other distribution (subject, in the case of a dividend or other distribution to a Restricted Subsidiary, to the limitations contained in clause (2) below), 

  

	 	(2)	any net income (loss) of any Restricted Subsidiary if such Restricted Subsidiary is subject to restrictions, directly or indirectly, on the payment of dividends or the making of
similar distributions by such Restricted Subsidiary, directly or indirectly, to the Company by operation of the terms of such Restricted Subsidiary’s charter or any agreement, instrument, judgment, decree, order, statute or governmental rule or
regulation applicable to such Restricted Subsidiary or its stockholders (other than (x) restrictions that have been waived or otherwise released and (y) restrictions pursuant to the Securities or this Indenture), except that the Company’s
equity in the net income (but not loss) of any such Restricted Subsidiary for such period shall be included in such Consolidated Net Income up to the aggregate amount of any cash dividend or distribution that was or that could have been made by such
Restricted Subsidiary during such period to the Company or another Restricted Subsidiary and the Company’s equity in a net loss of any such Restricted Subsidiary for such period shall be included in determining such Consolidated Net Income up
to the amount of loans, advances or other contributions, if any, made to such Restricted Subsidiary by the Company or any other Restricted Subsidiary during such period, 

  

	 	(3)	any gain or loss realized upon the sale or other disposition of any asset of the Company or any Restricted Subsidiary (including pursuant to any Sale/Leaseback Transaction) that is
not sold or otherwise disposed of in the ordinary course of business (as determined in good faith by the Board of Directors of the Company) and any gain or loss realized upon the sale or other disposition of any Capital stock of any Person,

  

	 	(4)	 any extraordinary, unusual or nonrecurring gain, loss or charge, including, without limitation, any non-cash impairment charges related to goodwill, 

  

 8 

	 	 
other intangibles or long-lived assets in connection with the application of Statement of Financial Accounting Standards No. 142, “Goodwill and Other
Intangibles” and any non-cash charges resulting from any write-up of assets of the Company or any of its Subsidiaries in accordance with Statement of Financial Accounting Standards No. 141, “Business Combinations,”

  

	 	(5)	the cumulative effect of a change in accounting principles, 

  

	 	(6)	all deferred financing costs written off and premiums paid in connection with any early extinguishment of Indebtedness, 

  

	 	(7)	any unrealized gains or losses in respect of Currency Agreements, 

  

	 	(8)	any unrealized foreign currency transaction gains or losses in respect of Indebtedness of any Person denominated in a currency other than the functional currency of such Person, and

  

	 	(9)	any non-cash compensation charge arising from any grant of stock, stock options or other equity-based awards. 

  
 In the case of any unusual or nonrecurring gain, loss or charge not included
in Consolidated Net Income pursuant to clause (5) above in any determination thereof, the Company shall deliver an Officers’ Certificate to the Trustee promptly after the date on which Consolidated Net Income is so determined, setting forth the
nature and amount of such unusual or nonrecurring gain, loss or charge. 
  
 “Consolidated Net Worth” means the total of the amounts shown on the balance sheet of the Company and its Restricted Subsidiaries, determined on a Consolidated basis, as of the end of the most recent fiscal quarter of the
Company ending at least 45 days prior to the taking of any action for the purpose of which the determination is being made, as 
  

	 	(1)	the par or stated value of all outstanding Capital Stock of the Company plus 

  

	 	(2)	paid-in capital or capital surplus relating to such Capital Stock plus 

  

	 	(3)	any retained earnings or earned surplus less 

  

	 	(A)	any accumulated deficit and 

  

	 	(B)	any amounts attributable to Disqualified Stock. 

  
 “Consolidation” means the consolidation of the accounts of each of the Restricted Subsidiaries with those of the Company in accordance
with GAAP consistently applied; provided, however, that “Consolidation” shall not include consolidation of the accounts of any Unrestricted Subsidiary, but the interest of the Company or any Restricted Subsidiary in an

  

 9 

 
Unrestricted Subsidiary shall be accounted for as an investment. The term “Consolidated” has a correlative meaning. 
  
 “Credit Agreement” means the Amended and Restated Credit
Agreement, dated as of May 28, 2004, as amended, restated, supplemented, waived, replaced (whether or not upon termination, and whether with the original lenders or otherwise), refinanced, restructured or otherwise modified from time to time
(including increasing the amount of available borrowings thereunder, provided that the increase is permitted by Section 4.03), among the Company, the lenders named therein, and JPMorgan Chase Bank, as administrative agent (except to the
extent that any such amendment, restatement, supplement, waiver, replacement, refinancing, restructuring or other modification thereto would be prohibited by the terms of this Indenture, unless otherwise agreed to by the Holders of at least a
majority in aggregate principal amount of Securities at the time outstanding). 
  
 “Currency Agreement” means with respect to any Person any foreign exchange contract, currency swap agreements or other similar agreement or arrangement to which such Person is a party or of which it
is a beneficiary. 
  
 “Default” means any event
which is, or after notice or passage of time or both would be, an Event of Default. 
  
 “Designated Guarantor Senior Indebtedness” of any Subsidiary Guarantor means: 
  

	 	(1)	the Bank Indebtedness, including such Subsidiary Guarantor’s Guarantee of such Bank Indebtedness (to the extent such Bank Indebtedness constitutes Senior Indebtedness) and

  

	 	(2)	any other Senior Indebtedness of the Subsidiary Guarantor that, at the date of determination, has an aggregate principal amount outstanding of, or under which, at the date of
determination, the holders thereof are committed to lend up to at least $25 million and is specifically designated by the Company or such Subsidiary Guarantor (with the consent of the Representative of the Bank Indebtedness if there is any Bank
Indebtedness outstanding at this time) in the instrument evidencing or governing such Senior Indebtedness as “Designated Senior Indebtedness” or “Designated Guarantor Senior Indebtedness” for purposes of this Indenture.

  
 “Designated Senior
Indebtedness” means: 
  

	 	(1)	the Bank Indebtedness (to the extent such Bank Indebtedness constitutes Senior Indebtedness) and 

  

	 	(2)	 any other Senior Indebtedness of the Company that, at the date of determination, has an aggregate principal amount outstanding of, or under which, at the date of
determination, the holders thereof are committed to lend up to at least $25 million and is specifically designated by the Company (with the consent of the Representative of the Bank Indebtedness if there is any Bank Indebtedness outstanding at this
time) in 

  

 10 

	 	 
the instrument evidencing or governing such Senior Indebtedness as “Designated Senior Indebtedness” for purposes of this Indenture.

  
 “Disqualified Stock” means,
with respect to any Person, any Capital Stock which by its terms (or by the terms of any security into which it is convertible or for which it is exchangeable or exercisable) or upon the happening of any event: 
  

	 	(1)	matures or is mandatorily redeemable pursuant to a sinking fund obligation or otherwise, 

  

	 	(2)	is convertible or exchangeable for Indebtedness or Disqualified Stock (excluding Capital Stock convertible or exchangeable solely at the option of the Company or a Restricted
Subsidiary; provided, however, that any such conversion or exchange shall be deemed an Incurrence of Indebtedness or Disqualified Stock, as applicable) or 

  

	 	(3)	is redeemable at the option of the holder thereof, in whole or in part, 

  
 in the case of each of clauses (1), (2) and (3), on or prior to the first anniversary of the Stated Maturity of the Securities, provided that only the portion of
Capital Stock which so matures or is mandatorily redeemable, is so convertible or exchangeable or is so redeemable at the option of the holder thereof prior to such date shall be deemed to be Disqualified Stock; provided, further, however,
that any Capital Stock that would not constitute Disqualified Stock but for provisions thereof giving holders thereof the right to require such Person to repurchase or redeem such Capital Stock upon the occurrence of an “asset sale” or
“change of control” occurring prior to the first anniversary of the Stated Maturity of the Securities shall not constitute Disqualified Stock. 
  
 “Domestic Subsidiary” means any Restricted Subsidiary of the Company other than a Foreign Subsidiary. 
  
 “Equity Offering” means a sale of Capital Stock (other than
Disqualified Stock) that is a sale of Capital Stock of the Company. 
  
 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
  
 “Fair Market Value” means, with respect to any asset or property, the price which could be negotiated in an arm’s-length, free
market transaction, for cash, between a willing seller and a willing and able buyer, neither of whom is under undue pressure or compulsion to complete the transaction. The Fair Market Value of property or assets other than cash which involves (1) an
aggregate amount in excess of $5 million shall be set forth in a resolution approved by at least a majority of the Board of Directors of the Company and (2) an aggregate amount in excess of $50 million shall have been determined in writing by a
nationally recognized appraisal, accounting or investment banking firm. 
  
 “Foreign Subsidiary” means any Restricted Subsidiary of the Company that is not organized under the laws of the United States of America or any State thereof or the District of Columbia. 
  

 11 

 “GAAP” means generally accepted accounting principles in the United States of America as
in effect as of the Closing Date, including those set forth in: 
  

	 	(1)	the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants, 

  

	 	(2)	statements and pronouncements of the Financial Accounting Standards Board, 

  

	 	(3)	such other statements by such other entities as approved by a significant segment of the accounting profession, and 

  

	 	(4)	the rules and regulations of the SEC governing the inclusion of financial statements in periodic reports required to be filed pursuant to Section 13 of the Exchange Act, including
opinions and pronouncements in staff accounting bulletins and similar written statements from the accounting staff of the SEC. 

  
 All ratios and computations based on GAAP contained in this Indenture shall be computed in conformity with GAAP. 
  
 “Guarantee” means any obligation, contingent or otherwise,
of any Person directly or indirectly guaranteeing any Indebtedness or other obligation of any other Person and any obligation, direct or indirect, contingent or otherwise, of such Person: 
  

	 	(1)	to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation of such other Person (whether arising by virtue of partnership
arrangements, or by agreement to keep-well, to purchase assets, goods, securities or services, to take-or-pay, or to maintain financial statement conditions or otherwise) or 

  

	 	(2)	entered into for purposes of assuring in any other manner the obligee of such Indebtedness or other obligation of the payment thereof or to protect such obligee against loss in
respect thereof (in whole or in part); 

  
 provided, however,
that the term “Guarantee” shall not include endorsements for collection or deposit in the ordinary course of business. The term “Guarantee” used as a verb has a corresponding meaning. The term
“Guarantor” shall mean any Person Guaranteeing any obligation. 
  
 “Hedging Obligations” of any Person means the obligations of such Person pursuant to any Interest Rate Agreement or Currency Agreement. 
  
 “Holder” means the Person in whose name a Security is registered on the Registrar’s books. 

 
 “Incur” means issue, create, assume, Guarantee, incur or
otherwise become liable for; provided, however, that any Indebtedness or Capital Stock of a Person existing at the time 

  

 12 

 
such Person becomes a Restricted Subsidiary (whether by merger, consolidation, acquisition or otherwise) shall be deemed to be Incurred by such Person at the
time it becomes a Restricted Subsidiary. The term “Incurrence” when used as a noun shall have a correlative meaning. The accretion of principal of a non-interest bearing or other discount security shall not be deemed the Incurrence
of Indebtedness. 
  
 “Indebtedness” means, with
respect to any Person on any date of determination, without duplication: 
  

	 	(1)	the principal of and premium (if any) in respect of indebtedness of such Person for borrowed money; 

  

	 	(2)	the principal of and premium (if any) in respect of obligations of such Person evidenced by bonds, debentures, notes or other similar instruments; 

  

	 	(3)	the principal component of all obligations of such Person in respect of letters of credit or other similar instruments (including reimbursement obligations with respect thereto);

  

	 	(4)	the principal component of all obligations of such Person to pay the deferred and unpaid purchase price of property or services (except Trade Payables and other accrued current
liabilities arising in the ordinary course of business), which purchase price is due more than six months after the date of placing such property in service or taking delivery and title thereto or the completion of such services;

  

	 	(5)	all Capitalized Lease Obligations of such Person; 

  

	 	(6)	the liquidation preference of all obligations of such Person with respect to the redemption, repayment or other repurchase of any Disqualified Stock or, with respect to any
Subsidiary of such Person that is not a Subsidiary Guarantor, any Preferred Stock (but excluding, in each case, any accrued dividends); 

  

	 	(7)	the principal component of all Indebtedness of other Persons secured by a Lien on any asset of such Person, whether or not such Indebtedness is assumed by such Person; provided,
however, that the amount of Indebtedness of such Person shall be the lesser of: 

  

	 	(A)	the Fair Market Value of such asset at such date of determination and 

  

	 	(B)	the amount of such Indebtedness of such other Persons; 

  

	 	(8)	Hedging Obligations of such Person; and 

  

	 	(9)	 all obligations of the type referred to in clauses (1) through (8) of other Persons and all dividends of other Persons for the payment of which, in 

  

 13 

	 	 
either case, such Person is responsible or liable, directly or indirectly, as obligor, guarantor or otherwise, including by means of any Guarantee.

  
 The amount of Indebtedness of any Person at
any date shall be the outstanding balance at such date of all unconditional obligations as described above and the maximum liability, upon the occurrence of the contingency giving rise to the obligation, of any contingent obligations at such date.

  
 In addition, “Indebtedness” of any Person
shall include Indebtedness described in the preceding paragraph that would not appear as a liability on the balance sheet of such Person if: 
  

	 	(1)	such Indebtedness is the obligation of a Joint Venture; 

  

	 	(2)	such Person or a Restricted Subsidiary of such Person is a general partner of the Joint Venture (a “General Partner”); and 

  

	 	(3)	there is recourse, by contract or operation of law, with respect to the payment of such Indebtedness to property or assets of such Person or a Restricted Subsidiary of such Person;
and then such Indebtedness shall be included in an amount not to exceed: 

  

	 	(a)	the lesser of (i) the net assets of the General Partner and (ii) the amount of such obligations to the extent that there is recourse, by contract or operation of law, to the
property or assets of such Person or a Restricted Subsidiary of such Person; or 

  

	 	(b)	if less than the amount determined pursuant to clause (a) immediately above, the actual amount of such Indebtedness that is recourse to such Person or a Restricted Subsidiary of
such Person, if the Indebtedness is evidenced by a writing and is for a determinable amount and the related interest expense shall be included in Consolidated Interest Expense to the extent actually paid by the Company or its Restricted
Subsidiaries. 

  
 “Indenture” means
this Indenture as amended or supplemented from time to time. 
  
 “Interest Rate Agreement” means with respect to any Person any interest rate protection agreement, interest rate future agreement, interest rate option agreement, interest rate swap agreement, interest rate cap agreement,
interest rate collar agreement, interest rate hedge agreement or other similar agreement or arrangement to which such Person is party or of which it is a beneficiary. 
  
 “Investment” in any Person means any direct or indirect advance, loan (other than advances to customers in
the ordinary course of business that are recorded as accounts receivable on the balance sheet of the lender) or other extension of credit (including by way of Guarantee or similar arrangement) or capital contribution to (by means of any transfer of
cash or other property to others or any payment for property or services for the account or use of others), or 

  

 14 

 
any purchase or acquisition of Capital Stock, Indebtedness or other similar instruments issued by such Person. For purposes of the definition of
“Unrestricted Subsidiary” and Section 4.04: 
  

	 	(1)	“Investment” shall include the Company’s pro rata portion (proportionate to the Company’s direct or indirect equity interest in such Subsidiary) of the Fair
Market Value of the net assets of any Subsidiary of the Company at the time that such Subsidiary is designated an Unrestricted Subsidiary; provided, however, that upon a redesignation of such Subsidiary as a Restricted Subsidiary, the Company
shall be deemed to continue to have a permanent “Investment” in an Unrestricted Subsidiary in an amount (if positive) equal to: 

  

	 	(A)	the Company’s “Investment” in such Subsidiary at the time of such redesignation less 

  

	 	(B)	the Company’s pro rata portion (proportionate to the Company’s direct or indirect equity interest in such Subsidiary) of the Fair Market Value of the net assets of such
Subsidiary at the time of such redesignation; and 

  

	 	(2)	any property transferred to or from an Unrestricted Subsidiary shall be valued at its Fair Market Value at the time of such transfer. 

  
 “Investment Grade” means (i) with respect to S&P any of
the rating categories from and including “AAA” to and including “BBB-”; and (ii) with respect to Moody’s any of the rating categories from and including “Aaa” to and including “Baa3.” 
  
 “Joint Venture” means any joint venture (whether a
corporation, limited liability company, partnership or other entity) that is not a Restricted Subsidiary of the Company. 
  
 “Lien” means any mortgage, pledge, security interest, encumbrance, lien or charge of any kind (including any conditional sale or other
title retention agreement or lease in the nature thereof). 
  
 “Moody’s” means Moody’s Investors Service, Inc. and its successors. 
  
 “Net Available Cash” from an Asset Disposition means cash payments received (including any cash payments received by way of deferred
payment of principal pursuant to a note or installment receivable or otherwise and proceeds from the sale or other disposition of any securities received as consideration, but only as and when received, but excluding any other consideration received
in the form of assumption by the acquiring Person of Indebtedness or other obligations relating to the properties or assets that were the subject of such Asset Disposition or received in any other noncash form) therefrom, in each case net of:

  

	 	(1)	 all legal, title and recording tax expenses, commissions and other fees and expenses incurred, and all federal, state, provincial, foreign and local taxes required
to be paid or accrued as a liability under GAAP (after taking into 

  

 15 

	 	 
account any available tax credits or deductions and any tax sharing agreements), with respect to such Asset Disposition, 

  

	 	(2)	all payments made on any Indebtedness which is secured by any assets subject to such Asset Disposition, in accordance with the terms of any Lien upon or with respect to such assets,
or which must by its terms, or in order to obtain a necessary consent to such Asset Disposition, or by applicable law be repaid out of the proceeds from such Asset Disposition, 

  

	 	(3)	all distributions and other payments required to be made to minority interest holders in Subsidiaries or joint ventures as a result of such Asset Disposition and

  

	 	(4)	appropriate amounts to be provided by the seller as a reserve, in accordance with GAAP, against any liabilities associated with the property or other assets disposed of in such
Asset Disposition and retained by the Company or any Restricted Subsidiary after such Asset Disposition. 

  
 “Net Cash Proceeds”, with respect to any issuance or sale of Capital Stock, means the cash proceeds of such issuance or sale net of
attorneys’ fees, accountants’ fees, underwriters’ or placement agents’ fees, discounts or commissions and brokerage, consultant and other fees actually incurred in connection with such issuance or sale and net of taxes paid or
payable as a result thereof. 
  
 “Non Recourse
Debt” means Indebtedness of a Person: 
  

	 	(1)	as to which neither the Company nor any Restricted Subsidiary (a) provides any Guarantee or credit support of any kind (including any undertaking, guarantee, indemnity, agreement or
instrument that would constitute Indebtedness) or (b) is directly or indirectly liable (as a guarantor or otherwise); 

  

	 	(2)	no default with respect to which (including any rights that the holders thereof may have to take enforcement action against an Unrestricted Subsidiary) would permit (upon notice,
lapse of time or both) any holder of any other Indebtedness of the Company or any Restricted Subsidiary to declare a default under such other Indebtedness or cause the payment thereof to be accelerated or payable prior to its stated maturity; and

  

	 	(3)	the explicit terms of which provide there is no recourse against any of the assets of the Company or its Restricted Subsidiaries, except that Standard Receivable Obligations shall
not be considered recourse. 

  
 “Officer” means the Chairman of the Board, the Chief Executive Officer, the Chief Financial Officer, the President, any Vice President, the Treasurer or the Secretary of the Company. “Officer” of a
Subsidiary Guarantor has a correlative meaning. 
  
 “Officers’ Certificate” means a certificate signed by two Officers. 
  

 16 

 “Opinion of Counsel” means a written opinion from legal counsel who is acceptable to the
Trustee. The counsel may be an employee of or counsel to the Company or a Subsidiary Guarantor. 
  
 “Permitted Business” means any business engaged in by the Company or any Restricted Subsidiary on the Closing Date and any Related
Business. 
  
 “Permitted Investment” means an
Investment by the Company or any Restricted Subsidiary in: 
  

	 	(1)	the Company, a Restricted Subsidiary (other than a Receivables Entity) or a Person that will, upon the making of such Investment, become a Restricted Subsidiary (other than a
Receivables Entity); provided, however, that the primary business of such Restricted Subsidiary is a Permitted Business; 

  

	 	(2)	another Person if as a result of such Investment such other Person is merged or consolidated with or into, or transfers or conveys all or substantially all its assets to, the
Company or a Restricted Subsidiary (other than a Receivables Entity); provided, however, that such Person’s primary business is a Permitted Business; 

  

	 	(3)	Temporary Cash Investments; 

  

	 	(4)	receivables owing to the Company or any Restricted Subsidiary if created or acquired in the ordinary course of business and payable or dischargeable in accordance with customary
trade terms; provided, however, that such trade terms may include such concessionary trade terms as the Company or any such Restricted Subsidiary deems reasonable under the circumstances; 

  

	 	(5)	payroll, travel and similar advances to cover matters that are expected at the time of such advances ultimately to be treated as expenses for accounting purposes and that are made
in the ordinary course of business; 

  

	 	(6)	loans or advances to employees made in the ordinary course of business and not exceeding $5 million in the aggregate outstanding at any one time; 

  

	 	(7)	stock, obligations or securities received in settlement of debts created in the ordinary course of business and owing to the Company or any Restricted Subsidiary or in satisfaction
of judgments or upon bankruptcy or insolvency of creditors or customers; 

  

	 	(8)	any Person to the extent such Investment represents the noncash portion of the consideration received for an Asset Disposition that was made pursuant to and in compliance with
Section 4.06; 

  

	 	(9)	Investments existing on the Closing Date; 

  

 17 

	 	(10)	Currency Agreements and Interest Rate Agreements entered into by the Company or any of its Restricted Subsidiaries for bona fide business reasons and not for speculative purposes,
and otherwise in compliance with this Indenture; 

  

	 	(11)	guarantees by the Company or any of its Restricted Subsidiaries of Indebtedness otherwise permitted to be incurred by the Company or any of its Restricted Subsidiaries under this
Indenture; 

  

	 	(12)	any Investment by the Company or a Restricted Subsidiary of the Company in a Receivables Entity or any Investment by a Receivables Entity in any other Person in connection with the
Qualified Receivables Transaction, provided, however, that any Investment in any such Person is in the form of a Purchase Money Note or any equity interest or interests in Receivables and related assets generated by the Company or a
Restricted Subsidiary and transferred to any Person in connection with a Qualified Receivables Transaction or any such Person owning such Receivables; 

  

	 	(13)	that portion of any Investment where the consideration provided is Capital Stock of the Company (other than Disqualified Stock or Preferred Stock of a Subsidiary that is not a
Subsidiary Guarantor); 

  

	 	(14)	Investments in Joint Ventures engaged in Permitted Businesses; provided that the amount of such an Investment, together with all other outstanding Investments made pursuant
to this clause (14), does not exceed, as of the most recent balance sheet date, 5% of Consolidated total assets of the Company; or 

  

	 	(15)	other Investments in an aggregate amount outstanding at any time not to exceed $50 million. 

  
 “Permitted Liens” means the following types of Liens: 
  

	 	(1)	Liens securing the Securities and the Guarantees; 

  

	 	(2)	Liens securing indebtedness incurred in reliance on Section 4.03(b)(iv); provided that such Liens do not extend to or cover any property or assets of the Company or of any
Restricted Subsidiary other than the property or assets that secured such Indebtedness prior to the time the applicable Restricted Subsidiary became a Restricted Subsidiary; 

  

	 	(3)	Liens existing on the Closing Date, together with any Liens securing Refinancing Indebtedness Incurred to refinance Indebtedness secured by Liens existing on the Closing Date;
provided that the Liens securing the Refinancing Indebtedness shall not extend to property other than that pledged under the Liens securing the Indebtedness being refinanced; 

  

 18 

	 	(4)	Liens in favor of the Company on the property or assets, or any proceeds, income or profit therefrom, of any Restricted Subsidiary; 

  

	 	(5)	Liens on assets transferred to a Receivables Entity or on assets of a Receivables Entity, in either case Incurred in connection with a Qualified Receivables Transaction; and

  

	 	(6)	other Liens provided that the maximum aggregate amount of outstanding obligations secured thereby shall not at any time exceed $5 million. 

  
 “Person” means any individual, corporation, partnership,
limited liability company, joint venture, association, joint-stock company, trust, unincorporated organization, government or any agency or political subdivision thereof or any other entity. 
  
 “Preferred Stock”, as applied to the Capital Stock of any
Person, means Capital Stock of any class or classes (however designated) that is preferred as to the payment of dividends, or as to the distribution of assets upon any voluntary or involuntary liquidation or dissolution of such Person, over shares
of Capital Stock of any other class of such Person. 
  
 “principal” of a Security means the principal of the Security plus the premium, if any, payable on the Security which is due or overdue or is to become due at the relevant time. 
  
 “Purchase Money Indebtedness” means Indebtedness:

  

	 	(1)	consisting of the deferred purchase price of an asset (other than Capital Stock or other Investments), conditional sale obligations, obligations under any title retention agreement
and other purchase money obligations, in each case where the maturity of such Indebtedness does not exceed the anticipated useful life of the asset being financed, and 

  

	 	(2)	Incurred to finance the acquisition by the Company or a Restricted Subsidiary of such asset, including additions and improvements; 

  
 provided, however, that such Indebtedness is incurred within 180 days after the
acquisition by the Company or such Restricted Subsidiary of such asset. 
  
 “Purchase Money Note” means a promissory note of a Receivables Entity evidencing the deferred purchase price of Receivables (and related assets) and/or a line of credit, which may be irrevocable, from the Company or any
Restricted Subsidiary in connection with a Qualified Receivables Transaction with a Receivables Entity, which deferred purchase price or line is repayable from cash available to the Receivables Entity, other than amounts required to be established
as reserves pursuant to agreements, amounts paid to investors in respect of interest, principal and other amounts owing to such investors and amounts owing to such investors and amounts paid in connection with the purchase of newly generated
Receivables. 
  
 “Qualified Receivables
Transaction” means any transaction or series of transactions that may be entered into by the Company or any of its Restricted Subsidiaries pursuant to which the Company or any of its Restricted Subsidiaries may sell, convey or 

  

 19 

 
otherwise transfer to (a) a Receivables Entity (in the case of a transfer by the Company or any of its Restricted Subsidiaries) and (b) any other Person (in
the case of a transfer by a Receivables Entity), or may grant a security interest in, any Receivables (whether now existing or arising in the future) of the Company or any of its Subsidiaries, and any assets related thereto including, without
limitation, all collateral securing such Receivables, all contracts and all guarantees or other obligations in respect of such Receivables, proceeds of such Receivables and other assets which are customarily transferred or in respect of which
security interests are customarily granted in connection with asset securitization transactions involving Receivables. 
  
 “Rating Agency” means each of S&P and Moody’s. 
  
 “Receivable” means a right to receive payment arising from a sale or lease of goods or services by a Person
pursuant to an arrangement with another Person pursuant to which such other Person is obligated to pay for goods or services under terms that permit the purchase of such goods and services on credit and shall include, in any event, any items of
property that would be classified as an “account,” “chattel paper,” “payment intangible” or “instrument” under the Uniform Commercial Code and any “supporting obligations” as so defined. 

 
 “Receivables Entity” means a Wholly Owned Subsidiary (or
another Person in which the Company or any Restricted Subsidiary makes an Investment and to which the Company or any Restricted Subsidiary transfers Receivables and related assets) which engages in no activities other than in connection with the
financing of Receivables and which is designated by the Board of Directors of the Company (as provided below) as a Receivables Entity: 
  

	 	(1)	no portion of the Indebtedness or any other obligations (contingent or otherwise) of which: 

  

	 	(a)	is guaranteed by the Company or any Restricted Subsidiary (excluding guarantees of Obligations (other than the principal of, and interest on, Indebtedness) pursuant to Standard
Receivable Obligations); 

  

	 	(b)	is recourse to or obligates the Company of the Company in any way other than pursuant to Standard Receivable Obligations; or 

  

	 	(c)	subjects any property or asset of the Company or any Restricted Subsidiary, directly or indirectly, contingently or otherwise, to the satisfaction thereof, other than pursuant to
Standard Receivable Obligations; 

  

	 	(2)	with which neither the Company nor any Restricted Subsidiary has any material contract, agreement, arrangement or understanding (except in connection with a Purchase Money Note or
Qualified Receivables Transaction) other than on terms no less favorable to the Company or such Restricted Subsidiary than those that might be obtained at the time from Persons that are not Affiliates of the Company, other than fees payable in

  

 20 

 the ordinary course of business in connection with servicing Receivables; and 

 

	 	(3)	to which neither the Company nor any Restricted Subsidiary has any obligation to maintain or preserve such entity’s financial condition or cause such entity to achieve certain
levels of operating results. 

  
 Any such
designation by the Board of Directors of the Company shall be evidenced to the Trustee by filing with the Trustee a certified copy of the resolution of the Board of Directors of the Company giving effect to such designation and an Officers’
Certificate certifying that such designation complied with the foregoing conditions; provided that Harrison Street Funding, LLC, a Delaware limited liability company, shall be a Receivables Entity so long as it meets the criteria set forth
above. 
  
 “Receivables Fees” means distributions
or payments made directly or by means of discounts with respect to the face amount of Receivables or any participation interest issued or sold in connection with, and other fees or interest paid to a Person that is not a Restricted Subsidiary in
connection with, any Qualified Receivables Transaction, regardless of whether any such transaction is structured as on-balance sheet or off-balance sheet or through a Restricted Subsidiary or an Unrestricted Subsidiary. 
  
 “Receivables Repurchase Obligation” means any obligation of
a seller of receivables to repurchase receivables (including Receivables, accounts (as defined in the Uniform Commercial Code as in effect in any jurisdiction from time to time) and other accounts and receivable (including any thereof constituting
or evidenced by chattel paper, instruments or general intangibles)) arising as a result of a breach of a representation, warranty or covenant or otherwise, including as a result of a receivable or portion thereof becoming subject to any asserted
defense, dispute, off-set or counterclaim of any kind as a result of any action taken by, any failure to take action by or any other event relating to the seller. 
  
 “Refinance” means, in respect of any Indebtedness, to refinance, extend, renew, refund, repay, prepay,
redeem, defease or retire, or to issue other Indebtedness in exchange or replacement for, such Indebtedness. “Refinanced” and “Refinancing” shall have correlative meanings. 
  
 “Refinancing Indebtedness” means Indebtedness that is
Incurred to refund, refinance, replace, renew, repay or extend (including pursuant to any defeasance or discharge mechanism) any Indebtedness of the Company or any Restricted Subsidiary existing on the Closing Date or Incurred in compliance with
this Indenture (including Indebtedness of the Company that Refinances Refinancing Indebtedness); provided, however, that: 
  

	 	(1)	 except in the case of any Refinancing of the Company’s 5.25% Convertible Senior Debentures due August 15, 2033, (a) if the Stated Maturity of the Indebtedness
being refinanced is earlier than the Stated Maturity of the Securities, the Refinancing Indebtedness has a Stated Maturity no earlier than the Stated Maturity of the of the Indebtedness being refinanced or (b) if the Stated Maturity of the
Indebtedness being 

  

 21 

	 	 
refinanced is later than the Stated Maturity of the Securities, the Refinancing Indebtedness has a Stated Maturity at least 91 days later than the Stated
Maturity of the Securities; 

  

	 	(2)	if the Indebtedness being refinanced is Subordinated Obligations, the Refinancing Indebtedness has an Average Life at the time such Refinancing Indebtedness is Incurred that is
equal to or greater than the Average Life of the Indebtedness being refinanced, 

  

	 	(3)	such Refinancing Indebtedness is Incurred in an aggregate principal amount (or if issued with original issue discount, an aggregate issue price) that is equal to or less than the
sum of (x) the aggregate principal amount (or if issued with original issue discount, the aggregate accreted value) then outstanding of the Indebtedness being Refinanced plus (y) fees, underwriting discounts, interest, premiums and other costs and
expenses in connection with the issuance of the Refinancing Indebtedness and repayment of the Indebtedness being refinanced, and 

  

	 	(4)	if the Indebtedness being Refinanced is subordinated in right of payment to the Securities or the Subsidiary Guarantees, such Refinancing Indebtedness is subordinated in right of
payment to the Securities or the Subsidiary Guarantees at least to the same extent as the Indebtedness being Refinanced; 

  
 provided further, however, that Refinancing Indebtedness shall not include: 
  

	 	(A)	Indebtedness of a Restricted Subsidiary (other than a Subsidiary Guarantor) that Refinances Indebtedness of the Company or 

  

	 	(B)	Indebtedness of the Company or a Restricted Subsidiary that Refinances Indebtedness of an Unrestricted Subsidiary. 

  
 “Registration Rights Agreement” means that certain
registration rights agreement dated as of the date of this Indenture by and among the Company, the Subsidiary Guarantors and the initial purchasers set forth therein. 
  
 “Related Business” means any business related, ancillary or complementary to the businesses of the Company
and the Restricted Subsidiaries on the Closing Date. 
  
 “Representative” means the trustee, agent or representative (if any) for an issue of Senior Indebtedness. 
  
 “Restricted Subsidiary” means any Subsidiary of the Company other than an Unrestricted Subsidiary. 
  
 “S&P” means Standard & Poor’s Ratings Services,
a division of The McGraw-Hill Companies, Inc., and its successors. 
  

 22 

 “Sale/Leaseback Transaction” means an arrangement relating to property now owned or
hereafter acquired whereby the Company or a Restricted Subsidiary transfers such property to a Person and the Company or a Restricted Subsidiary leases it from such Person. 
  
 “SEC” means the Securities and Exchange Commission. 
  
 “Secured Indebtedness” means any Indebtedness of the Company
secured by a Lien. “Secured Indebtedness” of a Subsidiary Guarantor has a correlative meaning. 
  
 “Securities” means the Securities issued under this Indenture. 
  
 “Securities Act” means the Securities Act of 1933, as amended. 
  
 “Senior Indebtedness” of the Company or any Subsidiary
Guarantor means the principal of, premium (if any) and accrued and unpaid interest on (including interest accruing on or after the filing of any petition in bankruptcy or for reorganization of the Company or any Subsidiary Guarantor, regardless of
whether or not a claim for post-filing interest is allowed in such proceedings), and fees, indemnity expenses, reimbursement obligations and other amounts owing in respect of, Bank Indebtedness and all other Indebtedness of the Company or any
Subsidiary Guarantor, as applicable, whether outstanding on the Closing Date or thereafter Incurred, unless in the instrument creating or evidencing the same or pursuant to which the same is outstanding it is provided that such obligations are not
superior in right of payment to the Securities or such Subsidiary Guarantor’s Guarantee, as applicable; provided, however, that Senior Indebtedness of the Company or any Subsidiary Guarantor shall not include: 
  

	 	(1)	any obligation of the Company to any Subsidiary of the Company or of such Subsidiary Guarantor to the Company or any other Subsidiary of the Company; 

  

	 	(2)	any liability for Federal, state, local or other taxes owed or owing by the Company or such Subsidiary Guarantor, as applicable; 

  

	 	(3)	any accounts payable or other liability to trade creditors arising in the ordinary course of business (including Guarantees thereof or instruments evidencing such liabilities);

  

	 	(4)	any Indebtedness, Guarantee or obligation of the Company or such Subsidiary Guarantor, as applicable (and any accrued and unpaid interest in respect thereof) that by its terms is
subordinate or junior in any respect to any other Indebtedness, Guarantee or obligation of the Company or such Subsidiary Guarantor, as applicable, including any Senior Subordinated Indebtedness and any Subordinated Obligations of the Company or
such Subsidiary Guarantor, as applicable; 

  

	 	(5)	any obligations represented by any Capital Stock; or 

  

	 	(6)	 that portion of any Indebtedness Incurred in violation of Section 4.03, but, as to any such Indebtedness, no such violation shall be deemed to exist for 

  

 23 

	 	 
purposes of this clause (6) if the holder(s) of such Indebtedness or their representative shall have received an Officers’ Certificate to the effect
that the Incurrence of such Indebtedness does not (or, in the case of revolving credit indebtedness, that the Incurrence of the entire committed amount thereof at the date on which the initial borrowing thereunder is made would not) violate such
provisions of this Indenture. 

  
 “Senior Subordinated Indebtedness” of the Company means the Securities and any other Indebtedness of the Company that specifically provides that such Indebtedness is to rank equally with the Securities in right of payment
and is not subordinated by its terms in right of payment to any Indebtedness of the Company which is not Senior Indebtedness. “Senior Subordinated Indebtedness” of a Subsidiary Guarantor has a correlative meaning. 
  
 “Significant Subsidiary” means any Restricted Subsidiary
that would be a “Significant Subsidiary” of the Company within the meaning of Rule 1-02 under Regulation S-X promulgated by the SEC. 
  
 “Standard Receivable Obligations” means representations, warranties, covenants, indemnities and other obligations (including Guarantees
and Indebtedness) which are reasonably customary in a Qualified Receivables Transaction (as determined by the Company in good faith), including, without limitation, those relating to the servicing of the assets of a Receivables Entity, it being
understood that any Receivables Repurchase Obligation shall be deemed to be a Standard Receivable Obligation. 
  
 “Stated Maturity” means, with respect to any security, the date specified in such security as the fixed date on which the final payment
of principal of such security is due and payable, including pursuant to any mandatory redemption provision (but excluding any provision providing for the repurchase of such security at the option of the holder thereof upon the happening of any
contingency beyond the control of the issuer unless such contingency has occurred). 
  
 “Subordinated Obligation” means any Indebtedness of the Company (whether outstanding on the Closing Date or thereafter Incurred) that is subordinate or junior to any extent in right of payment to the
Securities pursuant to a written agreement. “Subordinated Obligation” of a Subsidiary Guarantor has a correlative meaning. 
  
 “Subsidiary” of any Person means any corporation, association, partnership or other business entity of which more than 50% of the total
voting power of shares of Capital Stock or other interests (including partnership interests and limited liability company interests) entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or
trustees thereof is at the time owned or controlled, directly or indirectly, by: 
  

	 	(1)	such Person, 

  

	 	(2)	such Person and one or more Subsidiaries of such Person or 

  

	 	(3)	one or more Subsidiaries of such Person. 

  

 24 

 “Subsidiary Guarantee” means each Guarantee of the obligations with respect to the
Securities issued by a Subsidiary of the Company pursuant to the terms of this Indenture. 
  
 “Subsidiary Guarantor” means any Subsidiary that has issued a Subsidiary Guarantee. 
  
 “Temporary Cash Investments” means any of the following: 
  

	 	(1)	any investment in direct obligations of the United States of America or any agency thereof or obligations Guaranteed by the United States of America or any agency thereof,

  

	 	(2)	investments in time deposit accounts, certificates of deposit and money market deposits maturing within 180 days of the date of acquisition thereof issued by a bank or trust company
that is organized under the laws of the United States of America, any state thereof or any foreign country recognized by the United States of America having capital, surplus and undivided profits aggregating in excess of $250,000,000 (or the foreign
currency equivalent thereof) and whose long-term debt is rated “A” (or such similar equivalent rating) or higher by at least one nationally recognized statistical rating organization (as defined in Rule 436 under the Securities Act),

  

	 	(3)	repurchase obligations with a term of not more than 30 days for underlying securities of the types described in clause (1) above entered into with a bank meeting the qualifications
described in clause (2) above, 

  

	 	(4)	investments in commercial paper, maturing not more than 90 days after the date of acquisition, issued by a corporation (other than an Affiliate of the Company) organized and in
existence under the laws of the United States of America or any foreign country recognized by the United States of America with a rating at the time as of which any investment therein is made of “P-1” (or higher) according to Moody’s
or “A-1” (or higher) according to S&P, and 

  

	 	(5)	investments in securities with maturities of six months or less from the date of acquisition issued or fully guaranteed by any state, commonwealth or territory of the United States
of America, or by any political subdivision or taxing authority thereof, and rated at least “A” by S&P or “A” by Moody’s. 

  
 “TIA” means the Trust Indenture Act of 1939 as in effect on the Closing Date. 
  
 “Trade Payables” means, with respect to any Person, any
accounts payable or any indebtedness or monetary obligation to trade creditors created, assumed or Guaranteed by such Person arising in the ordinary course of business in connection with the acquisition of goods or services. 
  

 25 

 “Trustee” means the party named as such in this Indenture until a successor replaces it
and, thereafter, means the successor. 
  
 “Trust
Officer” means, when used with respect to the Trustee, means any vice president, any assistant vice president, any senior trust officer or assistant trust officer, any trust officer or any other officer associated with the corporate trust
department of the Trustee customarily performing functions similar to those performed by any of the above designated officers and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred
because of such person’s knowledge of and familiarity with the particular subject. 
  
 “Uniform Commercial Code” means the New York Uniform Commercial Code as in effect from time to time. 
  
 “Unrestricted Subsidiary” means: 
  

	 	(1)	any Subsidiary of the Company that at the time of determination shall be designated an Unrestricted Subsidiary by the Board of Directors of the Company in the manner provided below,
and 

  

	 	(2)	any Subsidiary of an Unrestricted Subsidiary. 

  
 The Board of Directors of the Company may designate any Subsidiary of the Company (including any newly acquired or newly formed Subsidiary of the Company)
to be an Unrestricted Subsidiary unless such Subsidiary or any of its Subsidiaries owns any Capital Stock or Indebtedness of or has any Investment in, or owns or holds any Lien on any property of, the Company or any other Subsidiary of the Company
that is not a Subsidiary of the Subsidiary to be so designated; provided, however, that: 
  

	 	(A)	either (i) the Subsidiary to be so designated has total Consolidated assets of $1,000 or less or (ii) if such Subsidiary has Consolidated assets greater than $1,000, then such
designation would be permitted under Section 4.04; 

  

	 	(B)	all the Indebtedness of such Subsidiary and its Subsidiaries shall, at the date of designation, and shall at all times thereafter, consist of Non Recourse Debt;

  

	 	(C)	such Subsidiary, either alone or in the aggregate with all other Unrestricted Subsidiaries, does not operate, directly or indirectly, all or substantially all of the business of the
Company and its Subsidiaries; 

  

	 	(D)	such Subsidiary is a Person with respect to which neither the Company nor any of its Restricted Subsidiaries has any direct or indirect obligation: 

  

	 	(1)	to subscribe for additional Capital Stock of such Person; or 

  

 26 

	 	(2)	to maintain or preserve such Person’s financial condition or to cause such Person to achieve any specified levels of operating results; and 

  

	 	(E)	on the date such Subsidiary is designated an Unrestricted Subsidiary, such Subsidiary is not a party to any agreement, contract, arrangement or understanding with the Company or any
Restricted Subsidiary with terms substantially less favorable to the Company than those that might have been obtained from Persons who are not Affiliates of the Company. 

  
 The Board of Directors of the Company may designate any Unrestricted Subsidiary to be a Restricted Subsidiary; provided,
however, that immediately after giving effect to such designation: 
  

	 	(x)	the Company could Incur $1.00 of additional Indebtedness under Section 4.03(a) and 

  

	 	(y)	no Default or Event of Default shall have occurred and be continuing. 

  
 Any such designation of a Subsidiary as a Restricted Subsidiary or Unrestricted Subsidiary by the Board of Directors of the Company shall be evidenced to
the Trustee by promptly filing with the Trustee a copy of the resolution of the Board of Directors giving effect to such designation and an Officers’ Certificate certifying that such designation complied with the foregoing provisions. If, at
any time, any Unrestricted Subsidiary would fail to meet the foregoing requirements as an Unrestricted Subsidiary, it shall thereafter cease to be an Unrestricted Subsidiary for purposes of this Indenture and any Indebtedness of such Subsidiary
shall be deemed to be Incurred as of such date. 
  
 “U.S.
Government Obligations” means direct obligations (or certificates representing an ownership interest in such obligations) of the United States of America (including any agency or instrumentality thereof) for the payment of which the full
faith and credit of the United States of America is pledged and which are not callable or redeemable at the issuer’s option. 
  
 “Voting Stock” of a Person means all classes of Capital Stock or other interests (including partnership interests and limited liability
company interests) of such Person then outstanding and normally entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof. 
  
 “Wholly Owned Subsidiary” means a Restricted Subsidiary of
the Company all the Capital Stock of which (other than directors’ qualifying shares or similar immaterial equity interests) is owned by the Company or another Wholly Owned Subsidiary. 
  

 27 

 SECTION 1.02. Other Definitions. 
  

			
	 Term

	  	Defined in Section

	 “Affiliate Transaction”
	  	4.07(a)
	 “Appendix”
	  	Preamble
	 “Applicable Premium”
	  	Exhibits A and B
	 “Asset Disposition Offer Amount”
	  	4.06(c)(ii)
	 “Asset Disposition Offer Period”
	  	4.06(c)(ii)
	 “Asset Disposition Purchase Date”
	  	4.06(c)(i)
	 “Bankruptcy Law”
	  	6.01
	 “beneficial owner”
	  	1.01
	 “Blockage Notice”
	  	10.03
	 “Change of Control Offer”
	  	4.08(b)
	 “Change of Control Payment”
	  	4.08(b)
	 “Change of Control Payment Date”
	  	4.08(b)
	 “covenant defeasance option”
	  	8.01(b)
	 “Custodian”
	  	6.01
	 “Definitive Securities”
	  	Appendix A
	 “Discharge”
	  	1.01
	 “Event of Default”
	  	6.01
	 “Exchange Securities”
	  	Preamble
	 “Global Securities”
	  	Appendix A
	 “Guarantee Blockage Notice”
	  	12.03
	 “Guarantee Payment Blockage Period”
	  	12.03
	 “Guaranteed Obligations”
	  	11.01
	 “incorporated provision”
	  	13.01
	 “Initial Securities”
	  	Preamble
	 “legal defeasance option”
	  	8.01(b)
	 “Legal Holiday”
	  	13.08
	 “Offer”
	  	4.06(b)
	 “pay its Guarantee”
	  	12.03
	 “pay the Securities”
	  	10.03
	 “Paying Agent”
	  	2.04
	 “Payment Blockage Period”
	  	10.03
	 “protected purchaser”
	  	2.08
	 “Purchase”
	  	1.01
	 “Registered Exchange Offer”
	  	Appendix A
	 “Registrar”
	  	2.04
	 “Restricted Payment”
	  	4.04(a)
	 “Sale”
	  	1.01
	 “Securities Custodian”
	  	Appendix A
	 “Successor Company”
	  	5.01(a)
	 “Successor Guarantor”
	  	5.01(b)
	 “Transfer Restricted Securities”
	  	Exhibits A and B
	 “Treasury Rate”
	  	Exhibits A and B

  

 28 

 SECTION 1.03. Incorporation by Reference of Trust Indenture Act. This Indenture is subject to the
mandatory provisions of the TIA, which are incorporated by reference in and made a part of this Indenture. The following TIA terms have the following meanings: 
  

“Commission” means the SEC. 
  
 “indenture securities” means the Securities and the Subsidiary Guarantees. 
  
 “indenture security holder” means a Holder. 
  
 “indenture to be qualified” means this Indenture. 
  
 “indenture trustee” or “institutional
trustee” means the Trustee. 
  
 “obligor” on the indenture securities means the Company, the Subsidiary Guarantors and any other obligor on the indenture securities. 
  

All other TIA terms used in this Indenture that are defined by the TIA, defined by TIA reference to another statute or defined by SEC rule have the
meanings assigned to them by such definitions. 
  
 SECTION 1.04.
Rules of Construction. Unless the context otherwise requires: 
  
 (a) a term has the meaning assigned to it; 
  
 (b) an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP; 
  
 (c) “or” is not exclusive; 
  
 (d) “including” means including without limitation; 
  
 (e) words in the singular include the plural and words in the plural include the singular; 
  
 (f) unsecured Indebtedness shall not be deemed to be
subordinate or junior to Secured Indebtedness merely by virtue of its nature as unsecured Indebtedness; 
  
 (g) the principal amount of any noninterest bearing or other discount security at any date shall be the principal amount thereof that
would be shown on a balance sheet of the issuer dated such date prepared in accordance with GAAP; 
  
 (h) the principal amount of any Preferred Stock shall be (i) the maximum liquidation value of such Preferred Stock or (ii) the maximum
mandatory redemption or mandatory repurchase price with respect to such Preferred Stock, whichever is greater; and 
  
 (i) “herein,” “hereof” and other words of similar import refer to this Indenture as a whole and not to any particular
Article, Section or other subdivision. 
  

 29 

 ARTICLE 2 
  
 THE SECURITIES 
  
 SECTION 2.01. Amount of Securities. The aggregate principal amount of Securities that may be authenticated and delivered under this Indenture is
unlimited. The Initial Securities issued on the date hereof will be in an aggregate principal amount of $250,000,000. In addition, the Company may issue, from time to time in accordance with the provisions of this Indenture, Additional Securities
and Exchange Securities. The Securities shall be known and designated as “6.00% Senior Subordinated Notes due 2012” of the Company. 
  
 With respect to any Additional Securities issued after the Closing Date (except for Securities authenticated and delivered upon registration of transfer
of, or in exchange for, or in lieu of, other Securities pursuant to Section 2.07, 2.08, 2.10 or 3.06 hereof or the Appendix), there shall be (a) established in or pursuant to a resolution of the Board of Directors and (b) (i) set forth or determined
in the manner provided in an Officers’ Certificate or (ii) established in one or more indentures supplemental hereto, prior to the issuance of such Additional Securities: 
  
 (1) the aggregate principal amount of such Additional Securities to be authenticated and delivered under
this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities pursuant to Section 2.07, 2.08, 2.10 or 3.06 or the Appendix and except for Securities which,
pursuant to Section 2.03, are deemed never to have been authenticated and delivered hereunder); 
  
 (2) the issue price and issuance date of such Additional Securities, including the date from which interest on such Additional Securities
shall accrue; 
  
 (3) if applicable, that such
Additional Securities shall be issuable in whole or in part in the form of one or more Global Securities and, in such case, the respective depositaries for such Global Securities, the form of any legend or legends which shall be borne by such Global
Securities in addition to or in lieu of those set forth in Exhibit A hereto and any circumstances in addition to or in lieu of those set forth in Section 2.3 of the Appendix in which any such Global Security may be exchanged in whole or in part for
Additional Securities registered, or any transfer of such Global Security in whole or in part may be registered, in the name or names of Persons other than the depositary for such Global Security or a nominee thereof; and 
  
 (4) if applicable, that such Additional Securities shall not
be issued in the form of Initial Securities as set forth in Exhibit A, but shall be issued in the form set forth in Exhibit B. 
  
 The Initial Securities, the Additional Securities and the Exchange Securities shall be considered collectively as a single class for all purposes of this
Indenture. Holders of the Initial Securities, the Additional Securities and the Exchange Securities will vote and consent together on all matters to which such Holders are entitled to vote or consent as one class, and none of the Holders of the
Initial Securities, the Additional Securities or the Exchange Securities 

  

 30 

 
shall have the right to vote or consent as a separate class on any matter to which such Holders are entitled to vote or consent. 
  
 If any of the terms of any Additional Securities are established by action
taken pursuant to a resolution of the Board of Directors, a copy of an appropriate record of such action shall be certified by the Secretary or any Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of the
Officers’ Certificate or the indenture supplemental hereto setting forth the terms of the Additional Securities. 
  
 SECTION 2.02. Form and Dating. Provisions relating to the Initial Securities, the Additional Securities and the Exchange Securities are set forth
in the Appendix, which is hereby incorporated in and expressly made a part of this Indenture. The (a) Initial Securities and the Trustee’s certificate of authentication and (b) any Additional Securities (if issued as Transfer Restricted
Securities) and the Trustee’s certificate of authentication shall each be substantially in the form of Exhibit A hereto, which is hereby incorporated in and expressly made a part of this Indenture. The Exchange Securities and any Additional
Securities issued other than as Transfer Restricted Securities and the Trustee’s certificate of authentication shall each be substantially in the form of Exhibit B hereto, which is hereby incorporated in and expressly made a part of this
Indenture. The Securities may have notations, legends or endorsements required by law, stock exchange rule, agreements to which the Company or any Subsidiary Guarantor is subject, if any, or usage (provided that any such notation, legend or
endorsement is in a form acceptable to the Company). Each Security shall be dated the date of its authentication. The Securities shall be issuable only in registered form without interest coupons and only in denominations of $2,000 and integral
multiples of $1,000 in excess thereof. 
  
 SECTION 2.03.
Execution and Authentication. One Officer of the Company shall sign the Securities by manual or facsimile signature. 
  
 If an Officer whose signature is on a Security no longer holds that office at the time the Trustee authenticates the Security, the Security shall be valid
nevertheless. 
  
 A Security shall not be valid until an
authorized signatory of the Trustee manually signs the certificate of authentication on the Security. The signature shall be conclusive evidence that the Security has been authenticated under this Indenture. 
  
 The Trustee shall authenticate and make available for delivery Securities as
set forth in the Appendix. 
  
 The Trustee may appoint an
authenticating agent reasonably acceptable to the Company to authenticate the Securities. Any such appointment shall be evidenced by an instrument signed by a Trust Officer, a copy of which shall be furnished to the Company. Unless limited by the
terms of such appointment, an authenticating agent may authenticate Securities whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the
same rights as any Registrar, Paying Agent or agent for service of notices and demands. 
  
 SECTION 2.04. Registrar and Paying Agent. (a) The Company shall maintain an office or agency where Securities may be presented or surrendered for registration of transfer 

  

 31 

 
or for exchange (the “Registrar”) and an office or agency where Securities may be presented or surrendered for payment (the “Paying
Agent”). The Registrar shall keep a register of the Securities and of their transfer and exchange. The Company may have one or more co-registrars and one or more additional paying agents. The term “Paying Agent” includes any
additional paying agent, and the term “Registrar” includes any co-registrars. The Company initially appoints the Trustee as (i) Registrar and Paying Agent in connection with the Securities and (ii) the Securities Custodian with respect to
the Global Securities. 
  
 (b) The Company shall enter into an
appropriate agency agreement (which shall incorporate the provisions of the TIA) with any Registrar or Paying Agent not a party to this Indenture, which shall implement the provisions of this Indenture that relate to such agent. The Company shall
notify the Trustee of the name and address of any such agent. If the Company fails to maintain a Registrar or Paying Agent, the Trustee shall act as such and shall be entitled to appropriate compensation therefor pursuant to Section 7.07. The
Company may change the Paying Agent or Registrar without prior notice to the Holders. The Company or any of the Company’s Domestic Subsidiaries that are Wholly Owned Subsidiaries may act as Paying Agent or Registrar. 
  
 (c) The Company may remove any Registrar or Paying Agent upon written notice
to such Registrar or Paying Agent and to the Trustee; provided, however, that no such removal shall become effective until (i) acceptance of an appointment by a successor as evidenced by an appropriate agreement entered into by the
Company and such successor Registrar or Paying Agent, as the case may be, and delivered to the Trustee or (ii) notification to the Trustee that the Trustee shall serve as Registrar or Paying Agent until the appointment of a successor in accordance
with clause (i) above. The Registrar or Paying Agent may resign at any time upon written notice to the Company and the Trustee. 
  
 SECTION 2.05. Paying Agent to Hold Money in Trust. Prior to each due date of the principal of and interest on any Security, the Company shall
deposit with the Paying Agent (or if the Company or a Wholly Owned Subsidiary is acting as Paying Agent, segregate and hold in trust for the benefit of the Persons entitled thereto) a sum sufficient to pay such principal and interest when so
becoming due. The Company shall require each Paying Agent (other than the Trustee) to agree in writing, subject to Articles 4 and 12, that the Paying Agent shall hold in trust for the benefit of Holders or the Trustee all money held by the Paying
Agent for the payment of principal of and interest on the Securities, and shall notify the Trustee of any Default by the Company in making any such payment. If the Company or a Wholly Owned Subsidiary of the Company acts as Paying Agent, it shall
segregate the money held by it as Paying Agent and hold it as a separate trust fund. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed by the Paying Agent. Upon
complying with this Section, the Paying Agent shall have no further liability for the money delivered to the Trustee. 
  
 SECTION 2.06. Holder Lists. The Trustee shall preserve in as current a form as is reasonably practicable the most recent list available to it of
the names and addresses of Holders. If the Trustee is not the Registrar, the Company shall furnish, or cause the Registrar to furnish, to the Trustee, in writing before each interest payment date and at such other times as the Trustee may request in
writing, a list in such form and as of such date as the Trustee may 

  

 32 

 
reasonably require of the names and addresses of Holders, and the Company and the Subsidiary Guarantors shall otherwise comply with TIA 312(a). 

 
 SECTION 2.07. Transfer and Exchange. The Securities shall be issued
in registered form and shall be transferable only upon the surrender of a Security for registration of transfer and in compliance with the Appendix. When a Security is presented to the Registrar with a request to register a transfer, the Registrar
shall register the transfer as requested if its requirements therefor are met. When Securities are presented to the Registrar with a request to exchange them for an equal principal amount of Securities of other denominations, the Registrar shall
make the exchange as requested if the same requirements are met. To permit registration of transfers and exchanges, the Company shall execute and the Trustee shall authenticate Securities at the Registrar’s request. The Company may require
payment of a sum sufficient to pay all taxes, assessments or other governmental charges in connection with any transfer or exchange pursuant to this Section. The Company shall not be required to make and the Registrar need not register transfers or
exchanges of Securities selected for redemption (except, in the case of Securities to be redeemed in part, the portion thereof not to be redeemed) or any Securities for a period of 15 days before a selection of Securities to be redeemed. 

 
 Prior to the due presentation for registration of transfer of any
Security, the Company, the Subsidiary Guarantors, the Trustee, the Paying Agent and the Registrar may deem and treat the Person in whose name a Security is registered as the absolute owner of such Security for the purpose of receiving payment of
principal of and (subject to paragraph 2 of the Securities) interest, if any, on such Security and for all other purposes whatsoever, whether or not such Security is overdue, and none of the Company, any Subsidiary Guarantor, the Trustee, the Paying
Agent or the Registrar shall be affected by notice to the contrary. 
  
 Any Holder of a Global Security shall, by acceptance of such Global Security, agree that transfers of beneficial interest in such Global Security may be effected only through a book-entry system maintained by (a) the Holder of such Global
Security (or its agent) or (b) any Holder of a beneficial interest in such Global Security, and that ownership of a beneficial interest in such Global Security shall be required to be reflected in a book entry. 
  
 All Securities issued upon any transfer or exchange pursuant to the terms of
this Indenture shall evidence the same debt and shall be entitled to the same benefits under this Indenture as the Securities surrendered upon such transfer or exchange. 
  
 SECTION 2.08. Replacement Securities. If a mutilated Security is surrendered to the Registrar or if the Holder of a
Security claims that the Security has been lost, destroyed or wrongfully taken, the Company shall issue and the Trustee shall authenticate a replacement Security if the Trustee’s requirements are met, such that the Holder (a) satisfies the
Company or the Trustee within a reasonable time after such Holder has notice of such loss, destruction or wrongful taking and the Registrar does not register a transfer prior to receiving such notification, (b) makes such request to the Company or
the Trustee prior to the Security being acquired by a protected purchaser as defined in Section 8-303 of the Uniform Commercial Code (a “protected purchaser”) and (c) satisfies any other reasonable requirements of the Trustee. If
required by the Trustee or the Company, such Holder shall furnish an indemnity bond sufficient in the judgment of the Trustee to protect the Company, the Trustee, the Paying Agent and the Registrar from any 

  

 33 

 
loss that any of them may suffer if a Security is replaced. The Company and the Trustee may charge the Holder for their reasonable expenses in replacing a
Security (including any tax or governmental charge). In the event any such mutilated, lost, destroyed or wrongfully taken Security has become or is about to become due and payable, the Company in its discretion may pay such Security instead of
issuing a new Security in replacement thereof. 
  
 Every
replacement Security is an additional obligation of the Company. 
  
 The provisions of this Section 2.08 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, lost, destroyed or wrongfully taken Securities. 

 
 SECTION 2.09. Outstanding Securities. Securities outstanding at any
time are all Securities authenticated by the Trustee except for those canceled by it, those delivered to it for cancellation and those described in this Section as not outstanding. Subject to Section 13.06, a Security does not cease to be
outstanding because the Company or an Affiliate of the Company holds the Security. 
  
 If a Security is replaced pursuant to Section 2.08, it ceases to be outstanding unless the Trustee and the Company receive proof satisfactory to them that the replaced Security is held by a protected purchaser.

  
 If the Paying Agent segregates and holds in trust, in
accordance with this Indenture, on a redemption date or maturity date money sufficient to pay all principal and interest payable on that date with respect to the Securities (or portions thereof) to be redeemed or maturing, as the case may be, and
the Paying Agent is not prohibited from paying such money to the Holders on that date pursuant to the terms of this Indenture, then on and after that date such Securities (or portions thereof) cease to be outstanding and interest on them ceases to
accrue. 
  
 SECTION 2.10. Temporary Securities. In the
event that Definitive Securities are to be issued under the terms of this Indenture, until such Definitive Securities are ready for delivery, the Company may prepare and the Trustee shall authenticate temporary Securities. Temporary Securities shall
be substantially in the form of Definitive Securities but may have variations that the Company considers appropriate for temporary Securities. Without unreasonable delay, the Company shall prepare and the Trustee shall authenticate Definitive
Securities and make them available for delivery in exchange for temporary Securities upon surrender of such temporary Securities at the office or agency of the Company, without charge to the Holder. 
  
 SECTION 2.11. Cancellation. The Company at any time may deliver
Securities to the Trustee for cancellation. The Registrar and the Paying Agent shall forward to the Trustee any Securities surrendered to them for registration of transfer, exchange or payment. The Trustee, or at the direction of the Trustee, the
Registrar or Paying Agent, and no one else shall cancel all Securities surrendered for registration of transfer, exchange, payment or cancellation and shall dispose of canceled Securities in accordance with its customary procedures or deliver
canceled Securities to the Company pursuant to written direction by an Officer. The Company may not issue new Securities to replace Securities it has redeemed, paid or delivered to the 

  

 34 

 
Trustee for cancellation. The Trustee shall not authenticate Securities in place of canceled Securities other than pursuant to the terms of this Indenture.

  
 SECTION 2.12. Defaulted Interest. If the Company
defaults in a payment of interest on the Securities, the Company shall pay the defaulted interest (plus interest on such defaulted interest to the extent lawful) in any lawful manner. The Company may pay the defaulted interest to the Persons who are
Holders on a subsequent special record date. The Company shall fix or cause to be fixed any such special record date and payment date to the reasonable satisfaction of the Trustee and shall promptly mail or cause to be mailed to each Holder a notice
that states the special record date, the payment date and the amount of defaulted interest to be paid. 
  
 SECTION 2.13. CUSIP, ISIN and Common Code Numbers. The Company in issuing the Securities may use “CUSIP”, “ISIN” and
“Common Code” numbers (if then generally in use), and, if so, the Trustee shall use “CUSIP”, ISIN and Common Code numbers in notices of redemption or exchange as a convenience to Holders; provided, however, that any
such notice may state that no representation is made as to the correctness of such numbers either as printed on the Securities or as contained in any notice of a redemption and that reliance may be placed only on the other identification numbers
printed on the Securities, and any such redemption shall not be affected by any defect in or omission of such numbers. The Company shall promptly notify the Trustee of any change in the CUSIP, ISIN and Common Code numbers. 
  
 SECTION 2.14. Computation of Interest. Interest on the Securities
shall be computed on the basis of a 360-day year comprised of 30-day months. 
  
 ARTICLE 3 
  
 REDEMPTION

  
 SECTION 3.01. Notices to Trustee. If the Company
elects to redeem Securities pursuant to paragraph 5 of the Securities, the Company shall notify the Trustee in writing of the redemption date and the principal amount of Securities to be redeemed. 
  
 The Company shall give notice to the Trustee provided for in this Section and
pursuant to paragraph 5 of the Securities at least 35 but not more than 60 days before the redemption date, unless the Trustee consents to a shorter period, which consent will not be unreasonably withheld. Such notice shall be accompanied by an
Officers’ Certificate and an Opinion of Counsel from the Company to the effect that such redemption will comply with the conditions herein. Any such notice may be canceled at any time prior to notice of such redemption being mailed to any
Holder and shall thereby be void and of no effect. 
  
 SECTION
3.02. Selection of Securities To Be Redeemed. If, pursuant to paragraph 5 of the Securities, fewer than all the Securities are to be redeemed, the Trustee shall select the Securities to be redeemed in compliance with the requirements of the
principal national securities exchange, if any, on which the Securities are listed, or if such Securities are not then listed on a national securities exchange, on a pro rata basis, by lot or by such other method as the 

  

 35 

 
Trustee in its sole discretion shall deem to be fair and appropriate. The Trustee shall make the selection from outstanding Securities not previously called
for redemption. The Trustee may select for redemption portions of the principal of Securities that have denominations larger than $2,000. Portions of Securities that the Trustee selects shall be in integral multiples of $1,000; provided,
however, that no such partial redemption shall reduce the portion of the principal amount of a Security not redeemed to less than $2,000. Provisions of this Indenture that apply to Securities called for redemption also apply to portions of
Securities called for redemption. The Trustee shall notify the Company promptly of the Securities or portions of Securities to be redeemed. 
  
 SECTION 3.03. Notice of Redemption. (a) At least 30 days but not more than 60 days before a date for redemption of Securities, the Company shall
mail a notice of redemption by first-class mail to each Holder of Securities to be redeemed at such Holder’s registered address. 
  
 The notice shall identify the Securities to be redeemed and shall state: 
  
 (i) the redemption date; 
  
 (ii) the redemption price and the amount of accrued interest, if any, to be paid, to the redemption date;

  
 (iii) the name and address of the Paying
Agent; 
  
 (iv) that Securities called for
redemption must be surrendered to the Paying Agent to collect the redemption price plus accrued interest, if any; 
  
 (v) if fewer than all the outstanding Securities are to be redeemed, the certificate numbers and principal amounts of the particular
Securities to be redeemed; 
  
 (vi) that, unless
the Company defaults in making such redemption payment or the Paying Agent is prohibited from making such payment pursuant to the terms of this Indenture, interest on Securities (or portion thereof) called for redemption ceases to accrue on and
after the redemption date; 
  
 (vii) if any
Security is being redeemed in part, that on or after the redemption date, upon surrender of such Security, the Holder will receive, without charge, a new Security or Securities of authorized denominations for the principal amount thereof remaining
unredeemed; 
  
 (viii) the CUSIP, ISIN and/or
Common Code numbers, if any, printed on the Securities being redeemed; and 
  
 (ix) the paragraph of the Securities pursuant to which redemption is being made. 
  
 (b) The notice, if mailed in a manner provided herein, shall be conclusively presumed to have been sent, whether or not the Holder receives such notice.
Failure to give 

  

 36 

 
notice or any defect in the notice to any Holder shall not affect the validity of the notice to any other Holder. 
  
 (c) At the Company’s request, the Trustee shall give the notice of
redemption in the Company’s name and at the Company’s expense. In such event, the Company shall provide the Trustee with the information required by this Section at least 35 days before the redemption date. 
  
 SECTION 3.04. Effect of Notice of Redemption. Once notice of
redemption is mailed, Securities called for redemption become due and payable on the redemption date and at the redemption price stated in the notice. Upon surrender to the Trustee or Paying Agent, such Securities called for redemption shall be paid
at the redemption price stated in the notice, plus accrued interest, to the redemption date; provided, however, that if the redemption date is after a regular record date and on or prior to the interest payment date, the accrued
interest shall be payable to the Holder of the redeemed Securities registered on the relevant record date. 
  
 SECTION 3.05. Deposit of Redemption Price. Prior to 10:00 a.m., New York City time, on the redemption date, the Company shall deposit with the
Paying Agent (or, if the Company or a Wholly Owned Subsidiary is the Paying Agent, shall segregate and hold in trust) money sufficient in the aggregate to pay the redemption price of and accrued interest on all Securities or portions thereof to be
redeemed on that date other than Securities or portions of Securities called for redemption that have been delivered by the Company to the Trustee for cancellation. On and after the redemption date, interest shall cease to accrue on Securities or
portions thereof called for redemption so long as the Company has deposited with the Paying Agent funds sufficient to pay the principal of, plus accrued and unpaid interest on, the Securities to be redeemed, whether or not such Securities are
presented for payment, unless the Paying Agent is prohibited from making such payment pursuant to the terms of this Indenture. 
  
 SECTION 3.06. Securities Redeemed in Part. Upon surrender of a Security that is redeemed in part, the Company shall execute and the Trustee shall
authenticate for the Holder (at the Company’s expense) a new Security equal in principal amount to the unredeemed portion of the Security surrendered; provided that each such new Security will be in a principal amount of $2,000 or
integral multiples of $1,000 in excess thereof. 
  
 ARTICLE 4

  
 COVENANTS 
  
 SECTION 4.01. Payment of Securities. The Company shall promptly pay
the principal of and interest on the Securities on the dates and in the manner provided in the Securities and in this Indenture. Principal and interest shall be considered paid on the date due if on such date the Trustee or the Paying Agent holds in
accordance with this Indenture money sufficient to pay all principal and interest then due and the Trustee or the Paying Agent, as the case may be, is not prohibited from paying such money to the Holders on that date pursuant to the terms of this
Indenture. 
  

 37 

 The Company shall pay interest on overdue principal at the rate specified therefor in the Securities, and
it shall pay interest on overdue installments of interest at the same rate to the extent lawful. 
  
 SECTION 4.02. SEC Reports. Notwithstanding that the Company may not be subject to the reporting requirements of Section 13 or 15(d) of the Exchange
Act, the Company shall file, to the extent permitted under the Exchange Act, with the SEC from and after the effective date of any registration statement filed with the SEC in connection with the registration of Securities, and provide the Trustee
and, upon request, Holders and prospective Holders within 15 days after it files them with the SEC, copies of its annual report and the information, documents and other reports that are specified in Sections 13 and 15(d) of the Exchange Act. The
Company also shall comply with the other provisions of Section 314(a) of the TIA. 
  
 In the event that the Company is not permitted to file such reports, documents and information with the SEC pursuant to the Exchange Act, the Company shall nevertheless make available such Exchange Act information to
the Trustee and the holders of the Securities as if the Company were subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act within the time periods specified therein. 
  
 If the Company has designated any of its Subsidiaries as Unrestricted
Subsidiaries, then the quarterly and annual financial information required by the preceding paragraph shall include a reasonably detailed presentation, either on the face of the financial statements or in the footnotes to the financial statements
and in Management’s Discussion and Analysis of Results of Operations and Financial Condition, of the financial condition and results of operations of the Company and its Restricted Subsidiaries. 
  
 Delivery of such reports, information and documents to the Trustee is for
informational purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Company’s compliance with any of
its covenants hereunder (as to which the Trustee is entitled to conclusively rely conclusively on Officers’ Certificates). 
  
 SECTION 4.03. Limitation on Indebtedness. (a) The Company shall not, and shall not permit any Restricted Subsidiary to, Incur, directly or
indirectly, any Indebtedness; provided, however, that the Company or any Subsidiary Guarantor may Incur Indebtedness if on the date of such Incurrence and after giving effect thereto (1) the Consolidated Coverage Ratio would be greater
than 2:00:1 and (2) no Default or Event of Default shall have occurred and be continuing or would occur as a consequence of Incurring the Indebtedness or transactions relating to such Incurrence. 
  
 (b) Notwithstanding Section 4.03(a), the Company and its Restricted
Subsidiaries may Incur the following Indebtedness: 
  
 (i) Bank Indebtedness Incurred pursuant to the Credit Agreement in an aggregate principal amount not to exceed $900 million at any time outstanding; 
  

(ii) Indebtedness of the Company owed to and held by any Restricted Subsidiary (other than a Receivables Entity) or Indebtedness of a
Restricted Subsidiary 

  

 38 

	 	 
owed to and held by the Company or any Restricted Subsidiary (other than a Receivables Entity); provided, however, that (A) any subsequent
issuance or transfer of any Capital Stock or any other event that results in any such Restricted Subsidiary ceasing to be a Restricted Subsidiary or any subsequent transfer of any such Indebtedness (except to the Company or a Restricted Subsidiary
(other than a Receivables Entity)) shall be deemed, in each case, to constitute the Incurrence of such Indebtedness by the issuer thereof, (B) if the Company is the obligor on such Indebtedness, such Indebtedness is expressly subordinated to the
Securities at least to the same extent that the Securities are subordinated to Senior Indebtedness of the Company and (C) if a Restricted Subsidiary that is a Subsidiary Guarantor is the obligor on such Indebtedness and such Indebtedness is owed to
and held by a Wholly Owned Subsidiary that is not a Subsidiary Guarantor, such Indebtedness is expressly subordinated to the Subsidiary Guarantee of such Restricted Subsidiary at least to the same extent that such Subsidiary Guarantee is
subordinated to Senior Indebtedness of such Subsidiary Guarantor; 

  
 (iii) Indebtedness (A) represented by the Initial Securities, the Exchange Securities and the Subsidiary Guarantees, (B) outstanding on
the Closing Date (other than the Indebtedness described in clauses (i) and (ii) above), (C) consisting of Refinancing Indebtedness Incurred in respect of any Indebtedness described in this clause (iii) (including Indebtedness that is Refinancing
Indebtedness) or Section 4.03(a) and (D) consisting of Guarantees of any Indebtedness permitted under clauses (i) and (ii) of this Section 4.03(b); 
  
 (iv) (A) Indebtedness of a Restricted Subsidiary Incurred and outstanding on or prior to the date on which such Restricted Subsidiary was
acquired by or became a Restricted Subsidiary of the Company (other than Indebtedness Incurred in contemplation of, in connection with, as consideration in, or to provide all or any portion of the funds or credit support utilized to consummate, the
transaction or series of related transactions pursuant to which such Restricted Subsidiary became a Subsidiary of or was otherwise acquired by the Company); provided, however, that on the date that such Restricted Subsidiary is acquired by
the Company, the Company would have been able to Incur $1.00 of additional Indebtedness pursuant to Section 4.03(a) after giving effect to the Incurrence of such Indebtedness pursuant to this clause (iv) and (B) Refinancing Indebtedness Incurred by
a Restricted Subsidiary in respect of Indebtedness Incurred by such Restricted Subsidiary pursuant to this clause (iv); 
  
 (v) Indebtedness (A) in respect of performance bonds, bankers’ acceptances, letters of credit and surety or appeal bonds provided by
the Company and the Restricted Subsidiaries in the ordinary course of their business or other similar instruments or obligations issued, or relating to liabilities or obligations Incurred by the Company and the Restricted Subsidiaries in the
ordinary course of their business (including those issued to governmental entities in connection with self-insurance under applicable workers’ compensation statutes) and (B) in respect of the financing of insurance premiums by the Company or
any Restricted Subsidiary in the ordinary course of their business; 
  
 (vi) Purchase Money Indebtedness and Capitalized Lease Obligations (in an aggregate principal amount not in excess of $50 million at any time outstanding); 
  

 39 

 (vii) Indebtedness of any Foreign Subsidiary in an aggregate principal amount not in
excess of $50 million at any time outstanding; 
  
 (viii) Guarantees by the Company or any Restricted Subsidiary of Indebtedness or any other obligation or liability of the Company or any Restricted Subsidiary not incurred in violation of this Section 4.03; 
  
 (ix) any Purchase Money Note or other Indebtedness of a
Receivables Entity Incurred in connection with a Qualified Receivables Transaction; 
  
 (x) Indebtedness of the Company or any Restricted Subsidiary under Hedging Obligations entered into in the ordinary course of business, in
the judgment of the Company, to protect the Company or such Restricted Subsidiary from fluctuations in currency exchange rates or interest rates and not entered into for speculative purposes; provided, however, that such Hedging Obligations
do not increase the Indebtedness of the Company or Restricted Subsidiary outstanding at any time other than as a result of fluctuations in currency exchange rates or interest rates or by reason of fees, indemnities and compensation payable
thereunder; 
  
 (xi) Indebtedness arising from
the honoring by a bank or other financial institution of a check, draft or similar instrument inadvertently drawn against insufficient funds in the ordinary course of business; provided, however, that such Indebtedness is extinguished within
five business days of Incurrence; or 
  
 (xii)
Indebtedness (other than Indebtedness permitted to be Incurred after the Closing Date pursuant to Section 4.03(a) or any other clause of Section 4.03(b)) in an aggregate principal amount on the date of Incurrence that, when added to all other
Indebtedness Incurred pursuant to this clause (xii) and to remain outstanding immediately after such incurrence, shall not exceed $50 million. 
  
 (c) Notwithstanding the foregoing, the Company shall not Incur any Indebtedness pursuant to Section 4.03(b) if the proceeds thereof are used, directly or
indirectly, to repay, prepay, redeem, defease, retire, refund or refinance any Subordinated Obligations unless such Indebtedness shall be subordinated to the Securities to at least the same extent as such Subordinated Obligations. No Subsidiary
Guarantor shall Incur any indebtedness (other than a Guarantee of Indebtedness of the Company) if the proceeds thereof are used, directly or indirectly, to refinance any Subordinated Obligations of such Subsidiary Guarantor unless such Indebtedness
shall be subordinated to the obligations of such Subsidiary Guarantor under its Subsidiary Guarantee to at least the same extent as such Subordinated Obligations. No Subsidiary Guarantor shall Incur any Indebtedness (other than a Guarantee of
Indebtedness of the Company) if the proceeds thereof are used, directly or indirectly, to refinance any Senior Subordinated Indebtedness of such Subsidiary Guarantor unless such refinancing Indebtedness is either Senior Subordinated Indebtedness or
Subordinated Obligations. No Subsidiary Guarantor shall Incur any Indebtedness (other than a Guarantee of Indebtedness of the Company) if the proceeds are used to refinance Indebtedness of the Company. 
  

 40 

 (d) The Company shall not Incur any Indebtedness if such Indebtedness is subordinate or junior in ranking
in any respect to any Senior Indebtedness unless such Indebtedness is Senior Subordinated Indebtedness or is expressly subordinated in right of payment to Senior Subordinated Indebtedness. In addition, the Company shall not Incur after the Closing
Date any Secured Indebtedness, other than Secured Indebtedness secured by Permitted Liens, which is not Senior Indebtedness unless contemporaneously therewith effective provision is made to secure the Securities equally and ratably with (or on a
senior basis to, in the case of Indebtedness subordinated in right of payment to the Securities) such Secured Indebtedness for so long as such Secured Indebtedness is secured by a Lien. A Subsidiary Guarantor shall not Incur any Indebtedness if such
Indebtedness is by its terms expressly subordinate or junior in ranking in any respect to any Senior Indebtedness of such Subsidiary Guarantor unless such Indebtedness is Senior Subordinated Indebtedness of such Subsidiary Guarantor or is expressly
subordinated in right of payment to Senior Subordinated Indebtedness of such Subsidiary Guarantor. In addition, a Subsidiary Guarantor shall not Incur any Secured Indebtedness, other than Secured Indebtedness secured by Permitted Liens, that is not
Senior Indebtedness of such Subsidiary Guarantor unless contemporaneously therewith effective provision is made to secure the Subsidiary Guarantee of such Subsidiary Guarantor equally and ratably with (or on a senior basis to, in the case of
Indebtedness subordinated in right of payment to such Subsidiary Guarantee) such Secured Indebtedness for as long as such Secured Indebtedness is secured by a Lien. 
  
 (e) For purposes of determining compliance with any Dollar-denominated restriction on the Incurrence of Indebtedness
denominated in a foreign currency, the Dollar-equivalent principal amount of such Indebtedness Incurred pursuant thereto shall be calculated based on the relevant currency exchange rate in effect on the date that such Indebtedness was Incurred, in
the case of term Indebtedness, or first committed, in the case of revolving credit Indebtedness, provided that (x) the Dollar-equivalent principal amount of any such Indebtedness outstanding on the Closing Date shall be calculated based on
the relevant currency exchange rate in effect on the Closing Date, (y) if such Indebtedness is Incurred to refinance other Indebtedness denominated in a foreign currency, and such refinancing would cause the applicable Dollar-denominated restriction
to be exceeded if calculated at the relevant currency exchange rate in effect on the date of such refinancing, such Dollar-denominated restriction shall be deemed not to have been exceeded so long as the principal amount of such refinancing
Indebtedness does not exceed the principal amount of such Indebtedness being refinanced and (z) the Dollar-equivalent principal amount of Indebtedness denominated in a foreign currency and that is incurred pursuant to the Bank Indebtedness shall be
calculated based on the relevant currency exchange rate in effect on, at the Company’s option, (i) the Closing Date, (ii) any date on which any of the respective commitments with respect to the Bank Indebtedness shall be reallocated between or
among facilities or subfacilities thereunder, or on which such rate is otherwise calculated for any purpose thereunder, or (iii) the date of such Incurrence. The principal amount of any Indebtedness Incurred to refinance other Indebtedness, if
Incurred in a different currency from the Indebtedness being refinanced, shall be calculated based on the currency exchange rate applicable to the currencies in which such respective Indebtedness is denominated that is in effect on the date of such
refinancing. 
  
 For purposes of determining the outstanding
principal amount of any particular Indebtedness Incurred pursuant to this Section 4.03: 
  
 (i) Indebtedness Incurred pursuant to the Credit Agreement prior to or on the Closing Date shall be treated as Incurred pursuant to clause
(i) of Section 4.03(b), 
  

 41 

 (ii) Indebtedness permitted by this Section 4.03 need not be permitted solely by
reference to one provision permitting such Indebtedness but may be permitted in part by one such provision and in part by one or more other provisions of this Section 4.03 permitting such Indebtedness, 
  
 (iii) in the event that Indebtedness meets the criteria of
more than one of the types of Indebtedness described in this Section 4.03, the Company, in its sole discretion, may classify such Indebtedness and only shall be required to include the amount of such Indebtedness in one of such clauses but may
include the same in more than one of such clauses, 
  
 (iv) Guarantees of, or obligations in respect of letters of credit relating to, Indebtedness which is otherwise included in the determination of a particular amount of Indebtedness shall not be included; 
  
 (v) if obligations in respect of letters of credit are
Incurred pursuant to the Credit Agreement and are being treated as Incurred pursuant to Section 4.03(b)(i) and the letters of credit relate to other Indebtedness, then such other Indebtedness shall not be included; 
  
 (vi) the principal amount of any Disqualified Stock of the
Company or a Subsidiary Guarantor, or Preferred Stock of a Restricted Subsidiary that is not a Subsidiary Guarantor, shall be equal to the greater of the maximum mandatory redemption or repurchase price (not including, in either case, any redemption
or repurchase premium) or the liquidation preference thereof; and 
  
 (vii) the amount of Indebtedness issued at a price that is less than the principal amount thereof shall be equal to the amount of the liability in respect thereof determined in accordance with GAAP. 
  
 Accrual of interest, accrual of dividends, the accretion of accreted value,
the payment of interest in the form of additional Indebtedness and the payment of dividends in the form of additional shares of Preferred Stock or Disqualified Stock shall not be deemed to be an Incurrence of Indebtedness for purposes of this
Section 4.03. The amount of any Indebtedness outstanding as of any date shall be (i) the accreted value thereof in the case of any Indebtedness issued with original issue discount and (ii) the principal amount or liquidation preference thereof,
together with any interest thereon that is more than 30 days past due, in the case of any other Indebtedness. 
  
 In addition, the Company shall not permit any of its Unrestricted Subsidiaries to Incur any Indebtedness or issue any shares of Disqualified Stock, other
than Non-Recourse Debt. If at any time an Unrestricted Subsidiary becomes a Restricted Subsidiary, any Indebtedness of such Subsidiary shall be deemed to be Incurred by a Restricted Subsidiary of the Company as of such date (and, if such
Indebtedness is not permitted to be Incurred as of such date under this Section 4.03, the Company shall be in Default of this Section 4.03). 
  

 42 

 SECTION 4.04. Limitation on Restricted Payments. (a) The Company shall not, and shall not permit
any Restricted Subsidiary, directly or indirectly, to: 
  
 (i) declare or pay any dividend or make any distribution on or in respect of its Capital Stock (including any payment in connection with any merger or consolidation involving the Company or any Subsidiary of the Company) to the holders of
its Capital Stock in their capacity as such, except (x) dividends or distributions payable solely in its Capital Stock (other than Disqualified Stock or, in the case of a Subsidiary, Preferred Stock) and (y) dividends or distributions payable to the
Company or a Restricted Subsidiary (and, if such Restricted Subsidiary has shareholders or equity owners other than the Company or other Restricted Subsidiaries, to its other shareholders or equity owners on a pro rata basis), 
  
 (ii) purchase, repurchase, redeem, retire or otherwise
acquire for value any Capital Stock of the Company or any Restricted Subsidiary held by Persons other than the Company or a Restricted Subsidiary, 
  
 (iii) purchase, repurchase, redeem, retire, defease or otherwise acquire for value, prior to scheduled maturity, scheduled repayment or
scheduled sinking fund payment any Subordinated Obligations of the Company or a Subsidiary Guarantor (other than the purchase, repurchase redemption, retirement, defeasance or other acquisition for value of Subordinated Obligations acquired in
anticipation of satisfying a sinking fund obligation, principal installment or final maturity, in each case due within one year of the date of acquisition), or 
  

(iv) make any Investment (other than a Permitted Investment) in any other Person (any such dividend, distribution, payment, purchase,
redemption, repurchase, defeasance, retirement, or other acquisition or Investment (other than the exceptions thereto listed in Section 4.04(b)) being herein referred to as a “Restricted Payment”) 
  
 if at the time the Company or such Restricted Subsidiary makes such
Restricted Payment: 
  
 (1) a Default shall have
occurred and be continuing (or would result therefrom); 
  
 (2) the Company could not Incur at least $1.00 of additional Indebtedness under Section 4.03(a) after giving effect, on a pro forma basis, to such Restricted Payment; or 
  
 (3) the aggregate amount of such Restricted Payment and all
other Restricted Payments (except to the extent expressly excluded from the calculation of the amount of Restricted Payments pursuant to Section 4.04(b)) (the amount so expended, if other than in cash, to be determined in good faith by the Board of
Directors of the Company, whose determination shall be conclusive and evidenced by a resolution of the Board of Directors of the Company) declared or made subsequent to the Closing Date would exceed the sum, without duplication, of: 
  
 (A) 50% of the Consolidated Net Income accrued during the
period (treated as one accounting period) from October 2, 2004 to the end of the most recent fiscal quarter for which the Company shall have filed a Quarterly Report on Form 10-Q with the SEC or, in the event that the Company is not subject to the
reporting requirements of Section 13 or 15(d) of the Exchange Act, the most recent fiscal quarter ending at least 45 days prior to the date of such Restricted Payment (or, in case such Consolidated Net Income shall be a deficit, minus 100% of such
deficit); 
  

 43 

 (B) the aggregate Net Cash Proceeds and Fair Market Value of property or assets received
by the Company as capital contributions to the Company or from the issue or sale of its Capital Stock (other than Disqualified Stock) in each case, subsequent to the Closing Date (other than an issuance or sale to (x) a Subsidiary of the Company or
(y) an employee stock ownership plan or other trust established by the Company or any of its Subsidiaries, except to the extent that Consolidated Net Worth increases as a result of such issue or sale to such plan or trust); 
  
 (C) the amount by which Indebtedness of the Company or its
Restricted Subsidiaries is reduced on the Company’s balance sheet upon the conversion or exchange (other than by a Subsidiary of the Company) subsequent to the Closing Date of any Indebtedness of the Company or its Restricted Subsidiaries
issued after the Closing Date which is convertible or exchangeable for Capital Stock (other than Disqualified Stock) of the Company (less the amount of any cash or the Fair Market Value of other property distributed by the Company or any Restricted
Subsidiary upon such conversion or exchange plus the amount of cash, property or assets (determined as provided above) received by the Company or any Restricted Subsidiary upon such conversion or exchange); 
  
 (D) the amount equal to the net reduction in Investments in
Unrestricted Subsidiaries resulting from (x) payments of dividends, repayments of the principal of loans or advances or other transfers of assets to the Company or any Restricted Subsidiary from Unrestricted Subsidiaries or (y) the redesignation of
Unrestricted Subsidiaries as Restricted Subsidiaries (valued in each case as provided in the definition of “Investment”) not to exceed, in the case of any Unrestricted Subsidiary, the amount of Investments previously made by the Company or
any Restricted Subsidiary in such Unrestricted Subsidiary, which amount was included in the calculation of the amount of Restricted Payments, provided, however, that no amount shall be included under this clause (D) to the extent it is
already included in Consolidated Net Income; and 
  
 (E) in the case of any disposition or repayment or return of all or any portion of any Investment other than a Permitted Investment (without duplication of any amount deducted in calculating the amount of Investment at any time outstanding
included in the amount of Restricted Payments), an amount in the aggregate equal to the lesser of the return of capital, repayment or other proceeds with respect to all such Investments and the initial amount of all such 

  

 44 

 
Investments, provided, however, that no amount shall be included under this clause (E) to the extent it is already included in Consolidated Net
Income. 
  
 (b) The provisions of Section 4.04(a) shall not
prohibit: 
  
 (i) any purchase, repurchase,
redemption, retirement, prepayment, repayment or defeasance or other acquisition for value of Capital Stock of the Company or Subordinated Obligations made by exchange for, or out of the proceeds of the substantially concurrent sale of, Capital
Stock of the Company (other than Disqualified Stock and other than Capital Stock issued or sold to a Subsidiary of the Company or an employee stock ownership plan or other trust established by the Company or any of its Subsidiaries, except to the
extent that Consolidated Net Worth increases as a result of such issue or sale to such plan or trust); provided, however, that: 
  
 (1) such purchase, repurchase, redemption, retirement or other acquisition for value shall be excluded in the calculation of the amount of
Restricted Payments, and 
  
 (2) the Net Cash
Proceeds from such sale applied in the manner set forth in this clause (i) shall be excluded from the calculation of amounts under Section 4.04(a)(iv)(3)(B); 
  

(ii) any prepayment, repayment, purchase, repurchase, redemption, retirement, defeasance or other acquisition for value of Subordinated
Obligations of the Company made by exchange for, or out of the proceeds of the substantially concurrent sale of, Indebtedness of the Company that is permitted to be Incurred pursuant to Section 4.03(b) and that constitutes Refinancing Indebtedness;
provided, however, that such prepayment, repayment, purchase, repurchase, redemption, retirement, defeasance or other acquisition for value shall be excluded in the calculation of the amount of Restricted Payments; 
  
 (iii) so long as no Default or Event of Default has occurred
and is continuing any prepayment, repayment, purchase, repurchase, redemption, retirement, defeasance or other acquisition for value of Subordinated Obligations from Net Available Cash to the extent permitted by Section 4.06; provided,
however, that such prepayment, repayment, purchase, repurchase, redemption, retirement, defeasance or other acquisition for value shall be excluded in the calculation of the amount of Restricted Payments; 
  
 (iv) dividends paid within 60 days after the date of
declaration thereof if at such date of declaration such dividends would have complied with this Section 4.04; provided, however, that such dividends shall be included in the calculation of the amount of Restricted Payments; 
  
 (v) so long as no Default or Event of Default has occurred
and is continuing any purchase, repurchase, redemption, retirement or other acquisition for value of shares of or options to purchase shares of common stock or membership interests of the Company or any of its Subsidiaries from employees, former
employees, directors or former directors, members or former members of the Board of Directors of the Company or any of its Subsidiaries (or permitted transferees of such employees, former employees, directors or former directors, members or former
members of the Board of Directors),  

  

 45 

 
pursuant to the terms of agreements (including employment agreements) or plans (or amendments thereto) approved by the Board of Directors under which such
individuals purchase or sell or are granted the option to purchase or sell, shares of such common stock or membership interests or upon death, resignation or termination of employment; provided, however, that the aggregate amount of such
purchases, repurchases, redemptions, retirements and other acquisitions for value shall not exceed $5 million in any calendar year; provided that any unused amounts in one year can be carried forward the next year, but cannot be carried
forward to any succeeding year; provided further, however, that such purchases, repurchases, redemptions, retirements and other acquisitions for value shall be excluded in the calculation of the amount of Restricted Payments;

  
 (vi) Restricted Payments (including loans and
advances) in an aggregate amount at any time not to exceed $150 million (net of repayments of any such loans or advances); provided that such Restricted Payments shall be excluded in the calculation of the amount of Restricted Payments;

  
 (vii) the payment of fees and compensation as
permitted under Section 4.07(b)(5); provided that such payments shall be excluded in the calculation of the amount of Restricted Payments; 
  
 (viii) repurchases of Capital Stock deemed to occur upon the exercise of stock options if such Capital Stock represents a portion of the
exercise price thereof; provided that such repurchases shall be excluded in the calculation of the amount of Restricted Payments; 
  
 (ix) the distribution of Capital Stock of an Unrestricted Subsidiary to holders of Capital Stock of the Company, provided that such
distribution is made promptly following the formation of, and investment in, such Unrestricted Subsidiary, and provided further that such distribution (but not such investment) shall be excluded in the calculation of the amount of Restricted
Payments; or 
  
 (x) the Company or any
Restricted Subsidiary from purchasing all (but not less than all), excluding directors’ qualifying shares, of the Capital Stock or other ownership interests in a Subsidiary of the Company which Capital Stock or other ownership interests were
not theretofore owned by the Company or a Restricted Subsidiary of the Company; provided that such purchases shall be excluded in the calculation of the amount of Restricted Payments. 
  
 SECTION 4.05. Limitation on Restrictions on Distributions from Restricted
Subsidiaries. The Company shall not, and shall not permit any Restricted Subsidiary to, create or otherwise cause or permit to exist or become effective any consensual encumbrance or restriction on the ability of any Restricted Subsidiary to:

  
 (a) pay dividends or make any other distributions on its
Capital Stock or pay any Indebtedness or other obligations owed to the Company; 
  
 (b) make any loans or advances to the Company; or 
  

 46 

 (c) transfer any of its property or assets to the Company, except: 
  
 (i) any encumbrance or restriction pursuant to applicable
law or an agreement in effect at or entered into on the Closing Date (including this Indenture) and any encumbrance or restriction pursuant to any agreement governing Bank Indebtedness; 
  
 (ii) any encumbrance or restriction with respect to a Restricted Subsidiary pursuant to an agreement
relating to any Indebtedness Incurred by such Restricted Subsidiary prior to the date on which such Restricted Subsidiary was acquired by the Company (other than Indebtedness Incurred as consideration in, in contemplation of, or to provide all or
any portion of the funds or credit support utilized to consummate the transaction or series of related transactions pursuant to which such Restricted Subsidiary became a Restricted Subsidiary or was otherwise acquired by the Company) and outstanding
on such date; 
  
 (iii) any encumbrance or
restriction pursuant to an agreement effecting a Refinancing of Indebtedness Incurred pursuant to an agreement referred to in clause (i) or (ii) of this Section 4.05 or this clause (iii) or contained in any amendment to an agreement referred to in
clause (i) or (ii) of this Section 4.05 or this clause (iii); provided, however, that the encumbrances and restrictions contained in any such Refinancing agreement or amendment are not materially less favorable taken as a whole, as determined
by the Board of Directors of the Company, to the Holders than the encumbrances and restrictions contained in such predecessor agreements; 
  
 (iv) in the case of clause (c), any encumbrance or restriction 
  
 (1) that restricts the subletting, assignment or transfer of any property or asset or right and is contained
in any lease, license or other contract entered into in the ordinary course of business, or 
  
 (2) contained in security agreements securing Indebtedness of the Company or a Restricted Subsidiary to the extent such encumbrance or
restriction restricts the transfer of the property subject to such security agreements; 
  
 (v) with respect to a Restricted Subsidiary, any restriction imposed pursuant to an agreement entered into for the sale or disposition of
all or substantially all the Capital Stock or assets of such Restricted Subsidiary pending the closing of such sale or disposition; 
  
 (vi) any encumbrances or restrictions contained in any credit facility extended to any Foreign Subsidiary of the Company to meet such
Subsidiary’s working capital needs; 
  
 (vii) Indebtedness or other contractual requirements of a Receivables Entity in connection with a Qualified Receivables Transaction; provided that such restrictions apply only to such Receivables Entity; 
  
 (viii) restrictions on the transfer of assets pursuant to
any Permitted Lien; 
  

 47 

 (ix) any agreement or instrument relating to any Indebtedness permitted to be Incurred
subsequent to the Closing Date pursuant to the provisions of Section 4.03 if (x) either (i) the encumbrance or restriction applies only in the event of a payment default or a default with respect to a financial covenant contained in the terms of
such agreement or instrument or (ii) the Company in good faith determines that such encumbrance or restriction shall not cause the Company not to have the funds necessary to pay the principal of or interest on the Securities and (y) the encumbrance
or restriction is not materially more disadvantageous to the Holders of the Securities than is customary in comparable financings (as determined by the Company in good faith); and 
  
 (x) any agreement or instrument governing Capital Stock of any Person other than a Wholly Owned Subsidiary
that is acquired after the Closing Date. 
  
 SECTION 4.06.
Limitation on Sales of Assets and Subsidiary Stock. (a) The Company shall not, and shall not permit any Restricted Subsidiary to, make any Asset Disposition unless: 
  
 (i) the Company or such Restricted Subsidiary or the direct or indirect equity owners of the Company
receives consideration (including by way of relief from, or by any other Person assuming sole responsibility for, any liabilities, contingent or otherwise) at the time of such Asset Disposition at least equal to the fair value, as determined in good
faith by the Board of Directors of the Company, of the shares and assets subject to such Asset Disposition, 
  
 (ii) at least 75% of the consideration thereof received is in the form of cash, and 
  
 (iii) an amount equal to 100% of the Net Available Cash from
such Asset Disposition is applied by the Company (or such Restricted Subsidiary, as the case may be): 
  
 (1) first, to the extent the Company or any Restricted Subsidiary, as the case may be, elects (or is required by the terms of any
Indebtedness), to prepay, repay, purchase, repurchase, redeem, retire, defease or otherwise acquire for value Senior Indebtedness of the Company or Indebtedness (other than obligations in respect of Preferred Stock) of a Restricted Subsidiary (in
each case other than Indebtedness owed to the Company or an Affiliate of the Company and other than obligations in respect of Disqualified Stock) within 365 days after the later of the date of such Asset Disposition or the receipt of such Net
Available Cash; 
  
 (2) second, to the
extent of the balance of Net Available Cash after application in accordance with clause (1), to the extent the Company or such Restricted Subsidiary elects, to reinvest in Additional Assets to be owned by the Company or a Restricted Subsidiary
(including by means of an Investment in Additional Assets by a Restricted Subsidiary with Net Available Cash) within 365 days from the later of such Asset Disposition or the receipt of such Net Available Cash, or, if such reinvestment in Additional
Assets is a project authorized by the Board of Directors of the Company that 

  

 48 

 
shall take longer than 365 days to complete, the period of time necessary to complete such project up to an additional 365 days; 
  
 (3) third, to the extent of the balance of such Net
Available Cash after application in accordance with clauses (1) and (2), to make an Offer (as defined in Section 4.06(b)) to purchase the Securities pursuant to and subject to the conditions set forth in Section 4.06(b); provided, however, that if
the Company elects (or is required by the terms of any other Senior Subordinated Indebtedness), such Offer may be made ratably to purchase the Securities and other Senior Subordinated Indebtedness of the Company; and 
  
 (4) fourth, to the extent of the balance of such Net
Available Cash after application in accordance with clauses (1), (2) and (3), for any general corporate purpose permitted by the terms of this Indenture; 
  
 provided, however, that in connection with any prepayment, repayment, purchase, repurchase, redemption, retirement, defeasance or other acquisition
for value of Indebtedness pursuant to clause (1), (3) or (4) above, the Company or such Restricted Subsidiary shall retire such Indebtedness and shall cause the related loan commitment (if any) to be permanently reduced in an amount equal to the
principal amount so prepaid, repaid, purchased, repurchased, redeemed, retired, defeased or otherwise acquired for value. 
  
 For the purposes of this Section 4.06, the following are deemed to be cash: 
  

	 	(x)	the assumption of Indebtedness of the Company (other than obligations in respect of Disqualified Stock of the Company) or any Restricted Subsidiary (other than obligations in
respect of Disqualified Stock and Preferred Stock of a Restricted Subsidiary that is a Subsidiary Guarantor) and the release of the Company or such Restricted Subsidiary from all liability on such Indebtedness in connection with such Asset
Disposition and 

  

	 	(y)	securities received by the Company or any Restricted Subsidiary from the transferee that are within 60 days converted by the Company or such Restricted Subsidiary into cash.

  
 Notwithstanding the immediately preceding
paragraphs of this Section 4.06, the Company and its Restricted Subsidiaries shall be permitted to consummate an Asset Disposition without complying with such paragraphs to the extent that: 
  

	 	(1)	at least 75% of the consideration for such Asset Disposition constitutes Additional Assets; and 

  

	 	(2)	 such Asset Disposition is for at least fair value, as determined in good faith by the Board of Directors of the Company; provided that the Net Available Cash
from any consideration not constituting Additional Assets received by the Company or any of its Restricted Subsidiaries in 

  

 49 

	 	 
connection with any Asset Disposition permitted to be consummated under this paragraph shall be subject to the provisions of the two preceding paragraphs;
provided, that at the time of entering into such transaction or immediately after giving effect thereto, no Default or Event of Default shall have occurred or be continuing or would occur as a consequence thereof.

  
 (b) In the event of an Asset Disposition
that requires the purchase of Securities pursuant to Section 4.06(a)(iii)(3), the Company shall be required (i) to purchase Securities tendered pursuant to an offer by the Company for the Securities (the “Offer”) at a purchase price
of 100% of their principal amount plus accrued and unpaid interest thereon to the date of purchase (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date) in accordance
with the procedures (including prorating in the event of oversubscription), set forth in this Indenture and (ii) to purchase other Senior Subordinated Indebtedness of the Company on the terms and to the extent contemplated thereby (provided that in
no event shall the Company offer to purchase such other Senior Subordinated Indebtedness of the Company at a purchase price in excess of 100% of its principal amount (without premium), plus accrued and unpaid interest thereon). If the aggregate
purchase price of Securities (and other Senior Subordinated Indebtedness) tendered pursuant to the Offer is less than the Net Available Cash allotted to the purchase of the Securities (and other Senior Subordinated Indebtedness), the Company shall
apply the remaining Net Available Cash in accordance with Section 4.06(a)(iii)(4). The Company shall not be required to make an Offer for Securities (and other Senior Subordinated Indebtedness) pursuant to this Section 4.06 if the Net Available Cash
available therefor (after application of the proceeds as provided in Section 4.06(a)(iii)(1) and (2)) is less than $10 million for any particular Asset Disposition (which lesser amount shall be carried forward for purposes of determining whether an
Offer is required with respect to the Net Available Cash from any subsequent Asset Disposition). 
  
 (c) (i) Promptly, and in any event within 10 days after the Company becomes obligated to make an Offer, the Company shall be obligated to deliver to the
Trustee and send, by first-class mail to each Holder, a written notice stating that the Holder may elect to have his Securities purchased by the Company either in whole or in part (subject to prorating as hereinafter described in the event the Offer
is oversubscribed) in integral multiples of $1,000 at the applicable purchase price; provided, however, that no such partial repurchase shall reduce the portion of the principal amount of a Security not purchased to less than $2,000. The
notice shall contain such information concerning the business of the Company that the Company in good faith believes will enable such Holders to make an informed decision (which at a minimum shall include (1) the most recently filed Annual Report on
Form 10-K, if any, (including audited consolidated financial statements) of the Company, the most recent subsequently filed Quarterly Report on Form 10-Q, if any, and any Current Report on Form 8-K, if any, of the Company filed subsequent to such
Quarterly Report, other than Current Reports describing Asset Dispositions otherwise described in the offering materials (or corresponding successor reports), (2) a description of material developments, if any, in the Company’s business
subsequent to the date of the latest of such reports, and (3) if material, appropriate pro forma financial information) and all instructions and materials necessary to tender Securities pursuant to the Offer, together with the address referred to in
clause (iii). The Offer shall remain open for a period of 20 Business Days following its commencement, except to the extent that a longer period is required by  

  

 50 

 
applicable law (the “Asset Disposition Offer Period”). No later than five Business Days after the termination of the Asset Disposition Offer
Period (the “Asset Disposition Purchase Date”), the Company shall purchase the principal amount of Securities and other Senior Subordinated Indebtedness required to be purchased pursuant to this Section 4.06 (the “Asset
Disposition Offer Amount”) or, if less than the Asset Disposition Offer Amount has been so validly tendered, all Securities and other Senior Subordinated Indebtedness validly tendered in response to the Offer. If the Asset Disposition
Purchase Date is on or after an interest record date and on or before the related interest payment date, any accrued and unpaid interest shall be paid to the Person in whose name a Security is registered at the close of business on such record date,
and no additional interest shall be payable to holders who tender Securities pursuant to the Offer. 
  
 (ii) The Company shall deliver to the Trustee an Officers’ Certificate as to (1) the Asset Disposition Offer Amount, (2) the
allocation of the Net Available Cash from the Asset Dispositions pursuant to which such Offer is being made and (3) the compliance of such allocation with the provisions of Section 4.06(a). On the Asset Disposition Purchase Date, the Company shall
also irrevocably deposit with the Trustee or with a paying agent (or, if the Company is acting as its own paying agent, segregate and hold in trust) an amount equal to the Asset Disposition Offer Amount. The Trustee (or the Paying Agent, if not the
Trustee) shall, on the date of purchase, mail or deliver payment to each tendering Holder in the amount of the purchase price. In the event that the Asset Disposition Offer Amount delivered by the Company to the Trustee is greater than the purchase
price of the Securities (and other Senior Subordinated Indebtedness) tendered, the Trustee shall deliver the excess to the Company immediately after the expiration of the Asset Disposition Offer Period for application in accordance with this Section
4.06. Upon the expiration of the Asset Disposition Offer Period, the Company shall deliver to the Trustee for cancellation the Securities or portions thereof that have been properly tendered to and are to be accepted by the Company. 
  
 (iii) Holders electing to have a Security purchased shall be
required to surrender the Security, with an appropriate form duly completed, to the Company at the address specified in the notice at least three Business Days prior to the Asset Disposition Purchase Date. Holders shall be entitled to withdraw their
election if the Trustee or the Company receives not later than one Business Day prior to the Asset Disposition Purchase Date, a telegram, telex, facsimile transmission or letter setting forth the name of the Holder, the principal amount of the
Security that was delivered by the Holder for purchase and a statement that such Holder is withdrawing his election to have such Security purchased. If at the expiration of the Asset Disposition Offer Period the aggregate principal amount of
Securities and any other Senior Subordinated Indebtedness included in the Offer surrendered by holders thereof exceeds the Asset Disposition Offer Amount, the Company shall select the Securities and other Senior Subordinated Indebtedness to be
purchased on a pro rata basis (with such adjustments as may be deemed appropriate by the Company so that only portions of Securities and other Senior Subordinated Indebtedness in integral multiples of $1,000 shall be purchased and so that no such
partial purchase shall reduce the portion of the principal amount of a Security not purchased to less than $2,000). Holders whose Securities are purchased only in part shall be issued new Securities equal in principal amount to the unpurchased
portion of the 

  

 51 

 
Securities surrendered; provided, however, that no such partial redemption shall reduce the portion of the principal amount of a Security not
redeemed to less than $2,000. 
  
 (iv) At the
time the Company deliver Securities to the Trustee that are to be accepted for purchase, the Company shall also deliver an Officers’ Certificate stating that such Securities are to be accepted by the Company pursuant to and in accordance with
the terms of this Section. A Security shall be deemed to have been accepted for purchase at the time the Trustee, directly or through an agent, mails or delivers payment therefor to the surrendering Holder. 
  
 (v) The Company shall comply, to the extent applicable, with
the requirements of Section 14(e) of the Exchange Act and any other securities laws or regulations in connection with the repurchase of Securities pursuant to this Section 4.06. To the extent that the provisions of any securities laws or regulations
conflict with provisions of this Section 4.06, the Company shall comply with the applicable securities laws and regulations and shall not be deemed to have breached its obligations under this Section 4.06 by virtue thereof. 
  
 SECTION 4.07. Limitation on Transactions with Affiliates. (a) The
Company shall not, and shall not permit any Restricted Subsidiary to, directly or indirectly, enter into or conduct any transaction or series of related transactions (including the purchase, sale, lease or exchange of any property or the rendering
of any service) with any Affiliate of the Company (an “Affiliate Transaction”) unless such transaction is on terms: 
  
 (i) that are fair and reasonable to, and in the best interest of, the Company or such Restricted Subsidiary, as the case may be, as
determined in good faith by the Board of Directors of the Company, 
  
 (ii) that, in the event such Affiliate Transaction involves an aggregate amount in excess of $5 million, 
  
 (1) are set forth in writing, and 
  
 (2) have been approved by a majority of the members of the Board of Directors of the Company and, 
  
 (iii) that, in the event such Affiliate Transaction involves
an amount in excess of $50 million, have been determined by a nationally recognized appraisal, accounting or investment banking firm to be fair, from a financial point of view, to the Company or such Restricted Subsidiary, as the case may be.

  
 (b) The provisions of Section 4.07(a) will not prohibit:

  
 (i) any Restricted Payment permitted to be
paid pursuant to Section 4.04 or any Permitted Investments described in clauses (v) and (vi) of the definition thereof, 
  
 (ii) any issuance of securities, or other payments, awards or grants in cash, securities or otherwise pursuant to, or the funding of,
employment arrangements, stock or 

  

 52 

 
equity options and stock or equity ownership plans approved by the Board of Directors of the Company, 
  
 (iii) the grant of stock or equity options or similar rights
to employees and directors or members of the Board of Directors of the Company or its Subsidiaries pursuant to plans and/or contracts approved by the Board of Directors, 
  
 (iv) loans or advances to officers, directors or employees of the Company or its Subsidiaries in the
ordinary course of business in accordance with past practices of the Company, but in any event not to exceed $5 million in the aggregate outstanding at any one time, 
  
 (v) the payment of reasonable fees and compensation to, and the provision of indemnity on behalf of,
directors, officers, employees or consultants of the Company or its Subsidiaries as determined in good faith by the Company’s Board of Directors, 
  
 (vi) any transaction between the Company and a Restricted Subsidiary (other than a Receivables Entity) or between Restricted Subsidiaries
(other than a Receivables Entity or Entities) and Guarantees issued by the Company or a Restricted Subsidiary for the benefit of the Company or a Restricted Subsidiary, as the case may be, in accordance with Section 4.03, 
  
 (vii) transactions effected as part of a Qualified
Receivables Transaction, 
  
 (viii) the granting
or performance of registration rights under a written registration rights agreement approved by the Board of Directors of the Company and containing customary terms, taken as a whole, 
  
 (ix) transactions with Persons solely in their capacity as holders of Indebtedness or Capital Stock of the
Company or any of its Restricted Subsidiaries, where such Persons are treated no more favorably than holders of Indebtedness or Capital Stock of the Company or such Restricted Subsidiary generally, 
  
 (x) sales or purchases of products or services rendered in
the ordinary course of business, 
  
 (xi) sales
of Capital Stock (other than Disqualified Stock or Preferred Stock of a Subsidiary that is not a Subsidiary Guarantor) for any consideration or any capital contribution, or 
  
 (xii) any agreement to do any of the foregoing. 
  
 SECTION 4.08. Change of Control. (a) Upon the occurrence of a Change
of Control, each Holder shall have the right to require the Company to purchase all or any part of such Holder’s Securities at a purchase price in cash equal to 101% of the principal amount thereof plus accrued and unpaid interest to the date
of purchase (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date) in accordance with the terms contemplated in Section 4.08(b); provided, however, that 

  

 53 

 
notwithstanding the occurrence of a Change of Control, the Company shall not be obligated to purchase the Securities pursuant to this section in the event
that it has exercised its right to redeem all the Securities under paragraph 5 of the Securities. In the event that at the time of such Change of Control the terms of the Bank Indebtedness restrict or prohibit the repurchase of Securities pursuant
to this Section 4.08, then prior to the mailing of the notice to Holders provided for in Section 4.08(b) but in any event within 30 days following the date the Company obtains actual knowledge of any Change of Control, the Company shall: 

 
 (i) repay in full all Bank Indebtedness and all other
Senior Indebtedness the terms of which require repayment upon a Change of Control or, if doing so shall allow the purchase of the Securities, offer to repay in full all Bank Indebtedness and such other Senior Indebtedness and repay the Bank
Indebtedness or such other Senior Indebtedness of each lender who has accepted such offer, or 
  
 (ii) obtain the requisite consent under the agreements governing the Bank Indebtedness and all other Senior Indebtedness to permit the
repurchase of the Securities as provided for in Section 4.08(b). 
  
 (b) Within 30 days following the date the Company obtains actual knowledge of any Change of Control, the Company shall mail a notice to each Holder with a copy to the Trustee (the “Change of Control Offer”) stating:

  
 (i) that a Change of Control has occurred and
that such Holder has the right to require the Company to purchase all or a portion of such Holder’s Securities at a purchase price in cash equal to 101% of the principal amount thereof, plus accrued and unpaid interest to the date of purchase
(subject to the right of Holders of record on the relevant record date to receive interest on the relevant interest payment date) (the “Change of Control Payment”); 
  
 (ii) the circumstances and relevant facts and financial information regarding such Change of Control;

  
 (iii) the purchase date (which shall be no
earlier than 30 days nor later than 90 days from the date such notice is mailed) (the “Change of Control Payment Date”); and 
  
 (iv) the instructions determined by the Company, consistent with this Section 4.08, that a Holder must follow in order to have its
Securities purchased. 
  
 (c) Holders electing to have a Security
purchased shall be required to surrender the Security, with an appropriate form duly completed, to the Company at the address specified in the notice at least three Business Days prior to the purchase date. Holders shall be entitled to withdraw
their election if the Trustee or the Company receives not later than one Business Day prior to the purchase date a telegram, telex, facsimile transmission or letter setting forth the name of the Holder, the principal amount of the Security which was
delivered for purchase by the Holder and a statement that such Holder is withdrawing his election to have such Security purchased. Holders whose Securities are purchased only in part shall be issued new Securities equal in principal amount to the
unpurchased portion of the Securities surrendered. 
  

 54 

 (d) On the Change of Control Payment Date, the Company shall, to the extent lawful: 
  
 (i) accept for payment all Securities or portions of
Securities (in integral multiples of $1,000, so long as no such purchase shall reduce the portion of the principal amount of a Security not purchased to less than $2,000) properly tendered pursuant to the Change of Control Offer; 
  
 (ii) deposit with the paying agent an amount equal to the
Change of Control Payment in respect of all Securities or portions of Securities so tendered; and 
  
 (iii) deliver or cause to be delivered to the Trustee the Securities so accepted together with an Officers’ Certificate stating the
aggregate principal amount of Securities or portions of Securities being purchased by the Company. 
  
 The paying agent shall promptly mail to each holder of Securities so tendered the Change of Control Payment for such Securities, and the Trustee shall
promptly authenticate and mail (or cause to be transferred by book entry) to each holder a new Security equal in principal amount to any unpurchased portion of the Securities surrendered, if any; provided that each such new Security shall be
in a principal amount of $2,000 or an integral multiples of $1,000 in excess thereof. A Security shall be deemed to have been accepted for purchase at the time the Trustee, directly or through an agent, mails or delivers payment therefor to the
surrendering Holder. 
  
 If the Change of Control Payment Date is
on or after an interest record date and on or before the related interest payment date, any accrued and unpaid interest, if any, shall be paid to the Person in whose name a Security is registered at the close of business on such record date, and no
additional interest shall be payable to holders who tender pursuant to the Change of Control Offer. 
  
 (e) Notwithstanding the foregoing provisions of this Section 4.08, the Company shall not be required to make a Change of Control Offer upon a Change of
Control if a third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in Section 4.08(b) applicable to a Change of Control Offer made by the Company and purchases all
Securities validly tendered and not withdrawn under such Change of Control Offer. 
  
 (f) The Company shall comply, to the extent applicable, with the requirements of Section 14(e) of the Exchange Act and any other securities laws or regulations in connection with the purchase of Securities pursuant to
this Section 4.08. To the extent that the provisions of any securities laws or regulations conflict with provisions of this Section 4.08, the Company shall comply with the applicable securities laws and regulations and shall not be deemed to have
breached its obligations under this Section 4.08 by virtue thereof. 
  
 SECTION 4.09. Compliance Certificate. The Company shall deliver to the Trustee within 120 days after the end of each fiscal year of the Company an Officers’ Certificate stating that in the course of the performance by the
signers of their duties as Officers of the Company they would normally have knowledge of any Default and whether or not the signers know of any Default that occurred during such period. If they do, the certificate shall describe 

  

 55 

 
the Default, its status and what action the Company is taking or proposes to take with respect thereto. The Company also shall comply with Section 314(a)(4)
of the TIA. 
  
 SECTION 4.10. Further Instruments and Acts.
Upon request of the Trustee, the Company shall execute and deliver such further instruments and do such further acts as may be reasonably necessary or proper to carry out more effectively the purpose of this Indenture. 
  
 SECTION 4.11. Future Subsidiary Guarantors. The Company shall cause
each existing and future Domestic Subsidiary of the Company (other than (1) any existing or future Receivables Entity and (2) any Domestic Subsidiary whose annual revenues (other than intercompany revenues) and total assets (other than intercompany
receivables) are each less than $100,000) to become a Subsidiary Guarantor, and, if applicable, execute and deliver to the Trustee a supplemental indenture substantially in the form of Exhibit C pursuant to which such Domestic Subsidiary will
Guarantee payment of the Securities. Each Subsidiary Guarantee shall be limited to an amount not to exceed the maximum amount that can be Guaranteed by that Subsidiary Guarantor without rendering the Subsidiary Guarantee, as it relates to such
Subsidiary Guarantor, voidable under applicable law relating to fraudulent conveyance or fraudulent transfer or similar laws affecting the rights of creditors generally. 
  
 SECTION 4.12. Limitation on the Sale or Issuance of Preferred Stock of Restricted Subsidiaries. The Company will not
permit any Restricted Subsidiary to issue any shares of its Preferred Stock except to the Company or a Restricted Subsidiary. 
  
 SECTION 4.13. Maintenance of Office or Agency. The Company shall maintain an office or agency where the Securities may be presented or surrendered
for payment, where, if applicable, the Securities may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Company in respect of the Securities and this Indenture may be served. The agency of The Bank
of New York (the “Agent”) currently located at 101 Barclay Street, 8W, New York, NY 10286 shall be such office or agency of the Company, unless the Company shall designate and maintain some other office or agency for one or more of
such purposes. The Company shall give prompt written notice to the Trustee of any change in the location of any such office or agency. If at any time the Company shall fail to maintain any such required office or agency or shall fail to furnish the
Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Agent of the Trustee, and the Company hereby appoints the Trustee as its agent to receive all such presentations, surrenders, notices
and demands. 
  
 The Company may also from time to time designate
one or more other offices or agencies where the Securities may be presented or surrendered for any or all such purposes and may from time to time rescind any such designation. The Company shall give prompt written notice to the Trustee of any such
designation or rescission and any change in the location of any such other office or agency. 
  
 SECTION 4.14. Corporate Existence. Except as otherwise provided in this Article 4, Article 5 and Section 11.02(b), the Company shall do or cause to be done all things necessary to preserve and keep in full
force and effect its corporate existence and the corporate, partnership, limited liability company or other existence of each Subsidiary Guarantor in 

  

 56 

 
accordance with their respective organizational documents (as the same may be amended from time to time) and the rights (charter and statutory) licenses and
franchises of the Company and each such Subsidiary Guarantor; provided, however, that the Company shall not be required to preserve any such right, license or franchise or the corporate, partnership, limited liability company or other
existence of any Subsidiary Guarantor if the Board of Directors of the Company shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Company and each of its Restricted Subsidiaries, taken as a
whole, and that the loss thereof is not, and will not be, disadvantageous in any material respect to the Holders; provided, further, that the foregoing shall not prohibit a sale, transfer, or conveyance of a Restricted Subsidiary or any of
its assets in compliance with the terms of this Indenture. 
  
 SECTION 4.15. Payment of Taxes and Other Claims. The Company shall pay or discharge or cause to be paid or discharged, before the same shall become delinquent, (a) all material taxes, assessments and governmental charges levied or
imposed upon the Company or any Restricted Subsidiary or upon the income, profits or property of the Company or any Restricted Subsidiary and (b) all lawful claims for labor, materials and supplies, which, if unpaid, might by law become a material
liability or lien upon the property of the Company or any Restricted Subsidiary; provided, however, that the Company shall not be required to pay or discharge or cause to be paid or discharged any such tax, assessment, charge or claim the
amount, applicability or validity of which is being contested in good faith by appropriate actions and for which appropriate reserves, if necessary (in the good faith judgment of management of the Company), are being maintained in accordance with
GAAP or where the failure to effect such payment will not be disadvantageous to the Holders. 
  
 ARTICLE 5 
  
 SUCCESSOR COMPANY

  
 SECTION 5.01. When Company May Merge or Transfer
Assets. (a) The Company shall not consolidate with or merge with or into, or convey, transfer or lease all or substantially all its assets to, any Person, unless: 
  
 (i) the resulting, surviving or transferee Person (the “Successor Company”) shall be a
corporation organized and existing under the laws of the United States of America, any State thereof or the District of Columbia and the Successor Company (if not the Company) shall expressly assume, by a supplemental indenture hereto, executed and
delivered to the Trustee, in form satisfactory to the Trustee, all the obligations of the Company under the Securities and this Indenture; 
  
 (ii) immediately after giving effect to such transaction (and treating any Indebtedness which becomes an obligation of the Successor
Company or any Restricted Subsidiary as a result of such transaction as having been Incurred by the Successor Company or such Restricted Subsidiary at the time of such transaction), no Default or Event of Default shall have occurred and be
continuing; 
  

 57 

 (iii) immediately after giving effect to such transaction on a pro forma basis, the
Successor Company would be able to Incur an additional $1.00 of Indebtedness pursuant to Section 4.03(a); and 
  
 (iv) the Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that such
consolidation, merger or transfer and such supplemental indenture (if any) comply with this Indenture. 
  
 The Successor Company shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture;
provided that in the case of a lease of all or substantially all its assets, the predecessor Company shall not be released from the obligation to pay the principal of and interest on the Securities. 
  
 For purposes of this Section 5.01, the sale, lease, conveyance, assignment,
transfer, or other disposition of all or substantially all of the properties and assets of one or more Subsidiaries of the Company, which properties and assets, if held by the Company instead of such Subsidiaries, would constitute all or
substantially all of the properties and assets of the Company on a consolidated basis, shall be deemed to be the transfer of all or substantially all of the properties and assets of the Company. 
  
 (b) The Company shall not permit any Subsidiary Guarantor to consolidate with
or merge with or into, or convey, transfer or lease all or substantially all of its assets to any Person unless: (i) the resulting, surviving or transferee Person (the “Successor Guarantor”) shall be a corporation organized and
existing under the laws of the United States of America, any State thereof or the District of Columbia, and such Person (if not such Subsidiary Guarantor) shall expressly assume, by a supplemental indenture, executed and delivered to the Trustee, in
form satisfactory to the Trustee, all the obligations of such Subsidiary Guarantor under its Subsidiary Guarantee; and (ii) immediately after giving effect to such transaction (and treating any Indebtedness that becomes an obligation of the
Successor Guarantor or any Restricted Subsidiary as a result of such transaction as having been Incurred by the Successor Guarantor or such Restricted Subsidiary at the time of such transaction), no Default or Event of Default shall have occurred
and be continuing. 
  
 (c) Notwithstanding the foregoing, (i) any
Restricted Subsidiary may consolidate with, merge into or transfer all or substantially all of its assets to the Company or any Subsidiary Guarantor; (ii) the Company or any Subsidiary Guarantor may merge with (x) an Affiliate incorporated solely
for the purpose of reincorporating the Company in another jurisdiction or (y) a Restricted Subsidiary (including a Subsidiary Guarantor) so long as all assets of the Company and the Restricted Subsidiary immediately prior to such transaction are
owned by such Restricted Subsidiary and its Restricted Subsidiaries immediately after the consummation thereof; and (iii) any Subsidiary Guarantor may consolidate with or merge with or into, or convey, transfer or lease all or substantially all of
its assets so long as the transactions comply with the release provisions set forth in clause (1) or (2) of Section 11.02(b). 
  

 58 

 ARTICLE 6 
  
 DEFAULTS AND REMEDIES 
  
 SECTION 6.01. Events of Default. Each of the following is an “Event of Default”: 
  
 (a) a default in any payment of interest or additional interest (as required
by the Registration Rights Agreement) on any Security when due and payable, whether or not prohibited by Article 10 or Article 12, and such default continues for 30 days; 
  
 (b) a default in the payment of principal of any Security when due and payable at its Stated Maturity, upon optional
redemption, upon required redemption or repurchase, upon declaration of acceleration or otherwise, whether or not such payment is prohibited by Article 10 or Article 12; 
  
 (c) (i) a default in the observance or performance of Article 5 or (ii) a default in the observance or performance of any
other covenant or agreement contained in this Indenture (other than those referred to in (a) or (b) above), which default under this clause (ii) continues for a period of 30 days after the Company receives written notice specifying the default (and
demanding that such default be remedied) from the Trustee or the Holders of at least 25% of the outstanding principal amount of the Securities; 
  
 (d) the failure to pay at final stated maturity (giving effect to any applicable grace periods and any extensions thereof) the principal amount of any
Indebtedness of the Company or any Restricted Subsidiary(other than a Receivables Entity) of the Company, or the acceleration of the final stated maturity of any such Indebtedness (which acceleration is not rescinded, annulled or otherwise cured
within 20 days of receipt by the Company or such Restricted Subsidiary of notice of any such acceleration) if the aggregate principal amount of such Indebtedness, together with the principal amount of any other such Indebtedness in default for
failure to pay principal at final maturity or which has been accelerated (in each case with respect to which the 20-day period described above has elapsed), aggregates $25 million or more at any time; 
  
 (e) the Company or any Significant Subsidiary pursuant to or within the
meaning of any Bankruptcy Law: 
  
 (i) commences
a voluntary case; 
  
 (ii) consents to the entry
of an order for relief against it in an involuntary case; 
  
 (iii) consents to the appointment of a Custodian of it or for any substantial part of its property; 
  
 (iv) makes a general assignment for the benefit of its creditors; or takes any comparable action under any foreign laws relating to
insolvency; or 
  
 (v) takes any corporate action
to authorize or effect any of the foregoing; 
  

 59 

 (f) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law: 
  
 (i) that is for relief against the Company or any
Significant Subsidiary in an involuntary case; 
  
 (ii) appoints a Custodian of the Company or any Significant Subsidiary or for any substantial part of its property; or 
  
 (iii) orders the winding up or liquidation of the Company or any Significant Subsidiary; 
  
 and such order or decree remains unstayed and in effect for 60 days; 
  
 (g) the rendering of any judgment or decree for the payment of money in
excess of $25 million or its foreign currency equivalent against the Company or a Significant Subsidiary if: 
  
 (i) an enforcement proceeding thereon is commenced by any creditor, or 
  
 (ii) such judgment or decree remains outstanding for a period of 60 days after such judgment becomes final
and not appealable and is not discharged, paid, waived or stayed (the “judgment default provision”); or 
  
 (h) any Subsidiary Guarantor fails to comply with its obligations under any Subsidiary Guarantee or any Subsidiary Guarantee is declared null and void in
a judicial proceeding or any Subsidiary Guarantor denies or disaffirms its obligations under the Indenture or its Subsidiary Guarantee. 
  
 The foregoing shall constitute Events of Default whatever the reason for any such Event of Default and whether it is voluntary or involuntary or is
effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body. 
  
 The term “Bankruptcy Law” means Title 11, United States Code, or any similar Federal or state law
for the relief of debtors. The term “Custodian” means any receiver, trustee, assignee, liquidator, custodian or similar official under any Bankruptcy Law. 
  
 The Company shall deliver to the Trustee, within 30 days after the occurrence thereof, written notice in the form of an
Officers’ Certificate of any event which is, or with the giving of notice or the lapse of time or both would become, an Event of Default, its status and what action the Company is taking or proposes to take with respect thereto. 
  
 SECTION 6.02. Acceleration. If an Event of Default (other than an
Event of Default specified in Section 6.01(e) or (f) with respect to the Company) occurs and is continuing, the Trustee by notice to the Company, or the Holders of at least 25% in principal amount of the outstanding Securities by notice to the
Company and the Trustee, may declare the principal of and accrued but unpaid interest on all the Securities to be due and payable. Upon such a 

  

 60 

 
declaration, such principal and interest shall be due and payable immediately. If an Event of Default specified in Section 6.01(e) or (f) with respect to the
Company occurs, the principal of and interest on all the Securities shall ipso facto become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holders. The Holders of a majority in
principal amount of the outstanding Securities by notice to the Trustee may rescind an acceleration and its consequences if the rescission would not conflict with any judgment or decree and if all existing Events of Default have been cured or
waived, except nonpayment of principal or interest that has become due solely because of acceleration. No such rescission shall affect any subsequent Default or impair any right consequent thereto. 
  
 SECTION 6.03. Other Remedies. If an Event of Default occurs and is
continuing, the Trustee may pursue any available remedy to collect the payment of principal of or interest on the Securities or to enforce the performance of any provision of the Securities or this Indenture. 
  
 The Trustee may maintain a proceeding even if it does not possess any of the
Securities or does not produce any of them in the proceeding. A delay or omission by the Trustee or any Holder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or
acquiescence in the Event of Default. No remedy is exclusive of any other remedy. All available remedies are cumulative. 
  
 SECTION 6.04. Waiver of Past Defaults. The Holders of a majority in principal amount of the outstanding Securities by notice to the Trustee may
waive an existing Default and its consequences except an existing (a) Default in the payment of the principal of or interest on a Security, (b) Default arising from the failure to redeem or purchase any Security when required pursuant to the terms
of this Indenture or (c) Default in respect of a provision that under Section 9.02 cannot be amended without the consent of each Holder affected. When a Default is waived, it is deemed cured, but no such waiver shall extend to any subsequent or
other Default or impair any consequent right. 
  
 SECTION 6.05.
Control by Majority. The Holders of a majority in principal amount of the outstanding Securities may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power
conferred on the Trustee. However, the Trustee may refuse to follow any direction that conflicts with law or this Indenture or, subject to Section 7.01, that the Trustee determines is unduly prejudicial to the rights of other Holders or would
involve the Trustee in personal liability; provided, however, that the Trustee may take any other action deemed proper by the Trustee that is not inconsistent with such direction. Prior to taking any action hereunder, the Trustee shall
be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such action. 
  
 SECTION 6.06. Limitation on Suits. (a) Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no
Holder may pursue any remedy with respect to this Indenture or the Securities unless: 
  
 (i) the Holder gives to the Trustee written notice stating that an Event of Default is continuing; 
  

 61 

 (ii) the Holders of at least 25% in principal amount of the outstanding Securities make a
written request to the Trustee to pursue the remedy; 
  
 (iii) such Holder or Holders offer to the Trustee security or indemnity reasonably satisfactory to it against any loss, liability or expense; 
  
 (iv) the Trustee does not comply with the request within 60 days after receipt of the request and the offer of security or indemnity; and

  
 (v) the Holders of a majority in principal
amount of the outstanding Securities do not give the Trustee a direction inconsistent with the request during such 60-day period. 
  
 (b) A Holder may not use this Indenture to prejudice the rights of another Holder or to obtain a preference or priority over another Holder (it being
understood that the Trustee does not have an affirmative duty to ascertain whether or not such actions or forbearances are unduly prejudicial to such Holders). 
  

SECTION 6.07. Rights of Holders to Receive Payment. Notwithstanding any other provision of this Indenture, the right of any Holder to receive
payment of principal of and interest on the Securities held by such Holder, on or after the respective due dates expressed or provided for in the Securities, or to bring suit for the enforcement of any such payment on or after such respective dates,
shall not be impaired or affected without the consent of such Holder. 
  
 SECTION 6.08. Collection Suit by Trustee. If an Event of Default specified in Section 6.01(a) or (b) occurs and is continuing, the Trustee may recover judgment in its own name and as trustee of an express trust against the Company or
any other obligor on the Securities for the whole amount then due and owing (together with interest on overdue principal and (to the extent lawful) on any unpaid interest at the rate provided for in the Securities) and the amounts provided for in
Section 7.07. 
  
 SECTION 6.09. Trustee May File Proofs of
Claim. The Trustee may file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expense, disbursements and advances
of the Trustee, its agents and counsel) and the Holders allowed in any judicial proceedings relative to the Company, any Subsidiary, their creditors or their property, shall be entitled and empowered to participate as a member, voting or otherwise,
of any official committee of creditors appointed in such matter and, unless prohibited by law or applicable regulations, may vote on behalf of the Holders in any election of a trustee in bankruptcy or other Person performing similar functions, and
any Custodian in any such judicial proceeding is hereby authorized by each Holder to make payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any
amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and its counsel, and any other amounts due the Trustee under Section 7.07. 
  

 62 

 SECTION 6.10. Priorities. If the Trustee collects any money or property pursuant to this Article
6, it shall pay out the money or property in the following order: 
  
 FIRST: to the Trustee for amounts due under Section 7.07; 
  
 SECOND: to holders of Senior Indebtedness of the Company to the extent required by Article 10 and to holders of Senior Indebtedness of the
Subsidiary Guarantors to the extent required by Article 12; 
  
 THIRD: to Holders for amounts due and unpaid on the Securities for principal and interest, ratably, according to the amounts due and payable on the Securities for principal and interest, respectively; and 

 
 FOURTH: to the Company. 
  
 The Trustee may fix a record date and payment date for any payment to Holders
pursuant to this Section. At least 15 days before such record date, the Trustee shall mail to each Holder and the Company a notice that states the record date, the payment date and amount to be paid. 
  
 SECTION 6.11. Undertaking for Costs. In any suit for the enforcement
of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted by it as Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of
the suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by
the party litigant. This Section does not apply to a suit by the Trustee, a suit by a Holder pursuant to Section 6.07 or a suit by Holders of more than 10% in principal amount of the outstanding Securities. 
  
 SECTION 6.12. Waiver of Stay or Extension Laws. Neither the Company
nor any Subsidiary Guarantor (to the extent it may lawfully do so) shall at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time
hereafter in force, which may affect the covenants or the performance of this Indenture; and the Company and each Subsidiary Guarantor (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and
shall not hinder, delay or impede the execution of any power herein granted to the Trustee, but shall suffer and permit the execution of every such power as though no such law had been enacted. 
  
 ARTICLE 7 
  
 TRUSTEE 
  
 SECTION 7.01. Duties of Trustee. (a) If a Default or an Event of Default has occurred and is continuing, the Trustee shall exercise the rights and
powers vested in it by this Indenture and use the same degree of care and skill in their exercise as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs. 
  
 (b) Except during the continuance of a Default or an Event of Default:

  
 (i) the Trustee need perform such duties and
only such duties as are specifically set forth in this Indenture and no implied covenants or obligations shall be read into this Indenture against the Trustee; and 
  

 63 

 (ii) in the absence of bad faith on its part, the Trustee may conclusively rely, as to
the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture. However, the Trustee shall examine the certificates and
opinions to determine whether or not they conform to the requirements of this Indenture. 
  
 (c) Notwithstanding anything to the contrary contained herein, the Trustee may not be relieved from liability for its own negligent action, its own negligent failure to act or its own willful misconduct, except that:

  
 (i) this paragraph does not limit the effect
of paragraph (b) of this Section 7.01; 
  
 (ii)
the Trustee shall not be liable for any error of judgment made in good faith by a Trust Officer unless it is proved that the Trustee was negligent in ascertaining the pertinent facts; and 
  
 (iii) the Trustee shall not be liable with respect to any
action it takes or omits to take in good faith in accordance with a direction received by it pursuant to Section 6.05. 
  
 (d) no provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur financial liability in the performance of
any of its duties hereunder or in the exercise of any of its rights or powers, if it shall have reasonable grounds to believe that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it.

  
 (e) Every provision of this Indenture that in any way relates
to the Trustee is subject to this Section 7.01 and to the provisions of the TIA. 
  
 (f) The Trustee shall not be liable for interest on any money received by it, except as the Trustee may agree in writing with the Company. 
  
 (g) Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law.

  
 SECTION 7.02. Rights of Trustee. Subject to Section
7.01: 
  
 (a) The Trustee may rely conclusively on any document
believed by it to be genuine and to have been signed or presented by the proper person. The Trustee need not investigate any fact or matter stated in the document. 
  

 64 

 (b) Before the Trustee acts or refrains from acting, it may require an Officers’ Certificate or an
Opinion of Counsel. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on the Officers’ Certificate or Opinion of Counsel. 
  
 (c) The Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or
through agents, attorneys or independent contractors and the Trustee will not be responsible for any misconduct or negligence on the part of any agent, attorney or independent contractor appointed with due care by it hereunder. 
  
 (d) The Trustee shall not be liable for any action taken, suffered, or
omitted to be taken by it in good faith and reasonably believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Indenture. 
  
 (e) The Trustee may consult with counsel of its selection, and the advice or opinion of counsel with respect to legal
matters relating to this Indenture and the Securities shall be full and complete authorization and protection from liability in respect of any action taken, omitted or suffered by it hereunder in good faith and in accordance with the advice or
opinion of such counsel. 
  
 (f) The Trustee shall not be bound to
make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, approval, bond, debenture, note or other paper or document unless requested in writing
to do so by the Holders of not less than a majority in principal amount of the Securities at the time outstanding, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and,
if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Company, personally or by agent or attorney. 
  
 (g) The Trustee shall be under no obligation to exercise any of the rights or
powers vested in it by this Indenture at the request, order or direction of any of the Holders pursuant to the provisions of this Indenture, unless such Holders shall have offered to the Trustee security or indemnity reasonably satisfactory to it
against the costs, expenses and liabilities that may be incurred therein or thereby. 
  
 (h) In no event shall the Trustee be responsible or liable for special, indirect, or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the
Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. 
  
 (i) The rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right to be indemnified, are
extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and to each agent, custodian and other Person employed to act hereunder. 
  
 (j) The Trustee may request that the Company deliver a certificate setting forth the names of individuals and/or titles of
officers authorized at such time to take specified actions pursuant to this Indenture. 
  

 65 

 SECTION 7.03. Individual Rights of Trustee. The Trustee in its individual or any other capacity
may become the owner or pledgee of Securities and may otherwise deal with the Company or its Affiliates with the same rights it would have if it were not Trustee. Any Paying Agent or Registrar may do the same with like rights. However, the Trustee
must comply with Sections 7.10 and 7.11. 
  
 SECTION 7.04.
Trustee’s Disclaimer. The Trustee shall not be responsible for and makes no representation as to the validity or adequacy of this Indenture, any Subsidiary Guarantee or the Securities, it shall not be accountable for the Company’s
use of the proceeds from the Securities, and it shall not be responsible for any statement of the Company or any Subsidiary Guarantor in this Indenture or in any document issued in connection with the sale of the Securities or in the Securities
other than the Trustee’s certificate of authentication. The Trustee shall not be charged with knowledge of any Default or Event of Default under Sections 6.01(c), (d), (g) or (h) or of the identity of any Significant Subsidiary unless either
(a) a Trust Officer shall have actual knowledge thereof or (b) the Trustee shall have received notice thereof in accordance with Section 13.02 hereof from the Company, any Subsidiary Guarantor or any Holder. 
  
 SECTION 7.05. Notice of Defaults. If a Default occurs and is
continuing and if it is known to the Trustee, or if the Trustee receives actual notice of the Default, the Trustee shall mail to each Holder notice of the Default within the earlier of 90 days after it occurs or 30 days after it is known to a Trust
Officer. Except in the case of a Default in payment of principal of or interest on any Security (including payments pursuant to the mandatory redemption provisions of such Security, if any), the Trustee may withhold the notice if and so long as a
committee of its Trust Officers in good faith determines that withholding the notice is in the interests of Holders. 
  
 SECTION 7.06. Reports by Trustee to Holders. As promptly as practicable but not later than 60 days after each June 15 beginning with June 15, 2005,
the Trustee shall mail to each Holder a brief report dated as of such date that complies with Section 313(a) of the TIA if and to the extent required thereby. The Trustee shall also comply with Sections 313(b) and 313(c) of the TIA. A copy of each
report at the time of its mailing to Holders shall be mailed to the Company and shall be filed with the SEC and each stock exchange (if any) on which the Securities are listed. The Company agrees to notify promptly the Trustee whenever the
Securities become listed on any stock exchange and of any delisting thereof, and the Trustee shall comply with TIA Section 313(d). 
  
 SECTION 7.07. Compensation and Indemnity. The Company shall pay to the Trustee from time to time such compensation for its services as the parties
shall agree in writing from time to time. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Company shall reimburse the Trustee upon request for all reasonable out-of-pocket
expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include the reasonable compensation and expenses, disbursements and advances of the Trustee’s agents, counsel,
accountants and experts. The Company and each Subsidiary Guarantor, jointly and severally, shall indemnify the Trustee against any and all loss, liability or expense (including reasonable 

  

 66 

 
attorneys’ fees and expenses) incurred by or in connection with the acceptance or administration of this trust and the performance of its duties
hereunder, including the costs and expense of enforcing this Indenture against the Company (including this Section 7.07) and defending itself against any claim (whether asserted by the Company, any Holder or any other person) or liability in
connection with the exercise or performance of any of its rights, powers or duties hereunder. The Trustee shall notify the Company of any claim for which it may seek indemnity promptly upon obtaining actual knowledge thereof; provided,
however, that any failure so to notify the Company shall not relieve the Company or any Subsidiary Guarantor of its indemnity obligations hereunder. The Company may, subject to the approval of the Trustee, defend the claim, and the Trustee
shall provide reasonable cooperation at the Company’s expense in the defense. Such indemnified party may have separate counsel and the Company and the Subsidiary Guarantors, as applicable, shall pay the fees and expenses of such counsel;
provided, however, that the Company shall not be required to pay such fees and expenses if it assumes the Trustee’s defense and, in such indemnified parties’ reasonable judgment, there is no conflict of interest between the
Company and the Subsidiary Guarantors, as applicable, and such parties in connection with such defense. Neither the Company nor any Subsidiary Guarantor need pay for any written settlement without its written consent, which consent will not be
unreasonably delayed, conditioned or withheld. The Company need not reimburse any expense or indemnify against any loss, liability or expense incurred by an indemnified party through such party’s own willful misconduct, negligence or bad faith.

  
 To secure the Company’s and any Subsidiary
Guarantor’s payment obligations in this Section 7.07, the Trustee shall have a lien prior to the Securities on all money or property held or collected by the Trustee other than money or property held in trust to pay principal of and interest on
particular Securities. 
  
 The Company’s payment obligations
pursuant to this Section 7.07 shall survive the satisfaction or discharge of this Indenture, any rejection or termination of this Indenture under any bankruptcy law or the resignation or removal of the Trustee. Without prejudice to any other rights
available to the Trustee under applicable law, when the Trustee incurs expenses after the occurrence of a Default specified in Section 6.01(e) or (f) with respect to the Company, the expenses are intended to constitute expenses of administration
under the Bankruptcy Law. 
  
 SECTION 7.08. Replacement of
Trustee. (a) The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company may
remove the Trustee if: 
  
 (i) the Trustee fails
to comply with Section 7.10; 
  
 (ii) the Trustee
is adjudged bankrupt or insolvent; 
  
 (iii) a
receiver or other public officer takes charge of the Trustee or its property; or 
  
 (iv) the Trustee otherwise becomes incapable of acting. 
  

 67 

 (b) If the Trustee resigns, is removed by the Company or by the Holders of a majority in principal amount
of the Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall
promptly appoint a successor Trustee. 
  
 (c) A successor Trustee
shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and
duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien
provided for in Section 7.07. 
  
 (d) If a successor Trustee does
not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee (at the Company’s expense) or the Holders of at least 10% in principal amount of the outstanding Securities may petition any court of
competent jurisdiction for the appointment of a successor Trustee. 
  
 (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security for at least six months may petition
any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 
  
 (f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.08, the Company’s obligations under Section 7.07 shall continue for the
benefit of the retiring Trustee. 
  
 SECTION 7.09. Successor
Trustee by Merger. If the Trustee consolidates with, merges or converts into, or transfers all or substantially all its corporate trust business or assets to, another corporation or banking association, the resulting, surviving or transferee
corporation without any further act shall be the successor Trustee. 
  
 In case at the time such successor or successors by merger, conversion or consolidation to the Trustee shall succeed to the trusts created by this Indenture any of the Securities shall have been authenticated but not delivered, any such
successor to the Trustee may adopt the certificate of authentication of any predecessor trustee, and deliver such Securities so authenticated; and in case at that time any of the Securities shall not have been authenticated, any successor to the
Trustee may authenticate such Securities either in the name of any predecessor hereunder or in the name of the successor to the Trustee; and in all such cases such certificates shall have the full force which it is anywhere in the Securities or in
this Indenture provided that the certificate of the Trustee shall have. 
  
 SECTION 7.10. Eligibility; Disqualification. The Trustee shall at all times satisfy the requirements of Section 310(a)(1), 310(a)(2) and 310(a)(5) of the TIA. The Trustee shall have a combined capital and surplus of at least
$50,000,000 as set forth in its most recent published annual report of condition. The Trustee shall comply with Section 310(b) of the TIA, subject to its right to apply for a stay of its duty to resign under the penultimate paragraph of 

  

 68 

 
Section 310(b) of the TIA; provided, however, that there shall be excluded from the operation of Section 310(b)(1) of the TIA any indenture or
indentures under which other securities or certificates of interest or participation in other securities of the Company are outstanding if the requirements for such exclusion set forth in Section 310(b)(1) of the TIA are met. 
  
 SECTION 7.11. Preferential Collection of Claims Against Company. The
Trustee shall comply with Section 311(a) of the TIA, excluding any creditor relationship listed in Section 311(b) of the TIA. A Trustee who has resigned or been removed shall be subject to Section 311(a) of the TIA to the extent indicated.

  
 ARTICLE 8 
  
 DISCHARGE OF INDENTURE; DEFEASANCE 
  
 SECTION 8.01. Discharge of Liability on Securities; Defeasance. (a)
When (i) (A) all outstanding Securities (other than Securities replaced or paid pursuant to Section 2.08) have been canceled or delivered to the Trustee for cancellation or (B) all outstanding Securities have become due and payable, whether at
maturity or as a result of the mailing of a notice of redemption pursuant to Article 3 hereof or will become due and payable within one year or are to be called for redemption within one year under arrangements satisfactory to the Trustee for the
giving of notice of redemption pursuant to Article 3 hereof, (ii) the Company irrevocably deposits with the Trustee funds in an amount sufficient or U.S. Government Obligations, the principal of and interest on which will be sufficient, or a
combination thereof sufficient, in the written opinion of a nationally recognized firm of independent public accountants delivered to the Trustee, without consideration of reinvestment of such interest, to pay the principal of, premium (if any) and
interest on the outstanding Securities when due at maturity or upon redemption of, including interest thereon to maturity or such redemption date (other than Securities replaced or paid pursuant to Section 2.08), (iii) the Company pays all other
sums payable hereunder by the Company, (iv) no Default or Event of Default shall have occurred and be continuing on the date of the deposit described in clause (ii) or shall occur as a result of such deposit (other than a Default resulting from the
borrowing of funds to be applied to such deposit and the grant of any Lien securing such borrowing) and such deposit will not result in a breach or violation of, or constitute a default under, any material instrument (other than this Indenture) to
which the Company is a party or by which it is bound and (v) the Company shall have delivered irrevocable instructions to the Trustee under this Indenture to apply the deposited money toward the payment of Securities at maturity or the redemption
date, as the case may be, then this Indenture shall, subject to Section 8.01(c), cease to be of further effect. The Trustee shall acknowledge satisfaction and discharge of this Indenture on demand of the Company accompanied by an Officers’
Certificate and an Opinion of Counsel stating that all conditions precedent specified herein relating to the satisfaction and discharge of this Indenture have been complied with, and at the cost and expense of the Company. 
  
 (b) Subject to Sections 8.01(c) and 8.02, the Company at any time may
terminate (i) all of its obligations under the Securities and this Indenture (“legal defeasance option”) or (ii) its obligations under Sections 4.02, 4.03, 4.04, 4.05, 4.06, 4.07, 4.08, 4.11 and 4.12 and the operation of Section
5.01(a)(iii), 6.01(c), 6.01(d), 6.01(e) (with respect to Significant Subsidiaries of the Company only), 6.01(f) (with respect to Significant Subsidiaries 

  

 69 

 
of the Company only), 6.01(g) and 9.07 (“covenant defeasance option”). The Company may exercise its legal defeasance option notwithstanding
its prior exercise of its covenant defeasance option. In the event that the Company terminates all of its obligations under the Securities and this Indenture by exercising its legal defeasance option, the obligations under the Subsidiary Guarantees
shall each be terminated simultaneously with the termination of such obligations. 
  
 If the Company exercises its legal defeasance option, payment of the Securities may not be accelerated because of an Event of Default. If the Company exercises its covenant defeasance option, payment of the Securities
may not be accelerated because of an Event of Default specified in Section 6.01(c), 6.01(d), 6.01(e) (with respect to Significant Subsidiaries only), 6.01(f) (with respect to Significant Subsidiaries only) or 6.01(g) or because of the failure of the
Company to comply with clause (iii) of Section 5.01(a). 
  
 Upon
satisfaction of the conditions set forth herein and upon request of the Company, the Trustee shall acknowledge in writing the discharge of those obligations that the Company terminates. 
  
 (c) Notwithstanding clauses (a) and (b) above, the Company’s obligations in Sections 2.03, 2.04, 2.05, 2.06, 2.07,
2.08, 2.09, 2.10, 2.11, 4.01, 4.09, 4.10, 7.07, 7.08 and in this Article 8 shall survive until the Securities have been paid in full. Thereafter, the Company’s obligations in Sections 7.07, 8.05 and 8.06 shall survive. 
  
 SECTION 8.02. Conditions to Defeasance. (a) The Company may exercise
its legal defeasance option or their covenant defeasance option only if: 
  
 (i) the Company irrevocably deposits in trust with the Trustee money in an amount sufficient or U.S. Government Obligations, the principal of and interest (without reinvestment) on which will be sufficient, or a
combination thereof sufficient, to pay the principal of, and premium (if any), interest on the Securities when due at maturity or redemption, as the case may be, including interest thereon to maturity or such redemption date; 
  
 (ii) the Company delivers to the Trustee a certificate from
a nationally recognized firm of independent accountants expressing their opinion that the payments of principal and interest when due and without reinvestment on the deposited U.S. Government Obligations plus any deposited money without investment
will provide cash at such times and in such amounts as will be sufficient to pay principal, premium, if any, interest when due on all the Securities to maturity or redemption, as the case may be; 
  
 (iii) 91 days pass after the deposit is made, and during the
91-day period no Default specified in Section 6.01(e) or (f) with respect to the Company occurs which is continuing at the end of the period; 
  
 (iv) no Default or Event of Default has occurred and is continuing on the date of such deposit (other than a Default or Event of Default
resulting from the borrowing of funds to be applied to such deposit and the grant of any Lien securing such borrowing), and such legal defeasance or covenant defeasance will not constitute a default under any other material agreement binding on the
Company or any of its Subsidiaries; 
  

 70 

 (v) the Company delivers to the Trustee an Opinion of Counsel to the effect that the
trust resulting from the deposit does not constitute, or is qualified as, a regulated investment company under the Investment Company Act of 1940; 
  
 (vi) in the case of the legal defeasance option, the Company shall have delivered to the Trustee an Opinion of Counsel stating that (1)
the Company has received from, or there has been published by, the Internal Revenue Service a ruling, or (2) since the date of this Indenture there has been a change in the applicable federal income tax law, in either case to the effect that, and
based thereon such Opinion of Counsel shall confirm that, the Holders will not recognize income, gain or loss for federal income tax purposes as a result of such deposit and defeasance and will be subject to federal income tax on the same amounts,
in the same manner and at the same times as would have been the case if such deposit and defeasance had not occurred; 
  
 (vii) in the case of the covenant defeasance option, the Company shall have delivered to the Trustee an Opinion of Counsel to the effect
that the Holders will not recognize income, gain or loss for federal income tax purposes as a result of such deposit and defeasance and will be subject to federal income tax on the same amounts, in the same manner and at the same times as would have
been the case if such deposit and defeasance had not occurred; 
  
 (viii) the Company delivers to the Trustee an Officers’ Certificate stating that the deposit was not made by the Company with the intent of defeating, hindering, delaying or defrauding creditors of the Company or
others; and 
  
 (ix) the Company delivers to the
Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent to the defeasance and discharge of the Securities as contemplated by this Article 8 have been complied with. 
  
 (b) Before or after a deposit, the Company may make arrangements satisfactory
to the Trustee for the redemption of Securities at a future date in accordance with Article 3. 
  
 SECTION 8.03. Application of Trust Money. The Trustee shall hold in trust money or U.S. Government Obligations deposited with it pursuant to this Article 8. It shall apply the deposited money and the money from
U.S. Government Obligations through the Paying Agent and in accordance with this Indenture to the payment of principal of and interest on the Securities. Money and securities so held in trust are not subject to Article 10 or 12. 
  
 SECTION 8.04. Repayment to Company. The Trustee and the Paying Agent
shall promptly turn over to the Company upon request any money or U.S. Government Obligations held by it as provided in this Article which, in the written opinion of nationally recognized firm of independent public accountants delivered to the
Trustee, are in excess of the amount thereof which would then be required to be deposited to effect an equivalent discharge or defeasance in accordance with this Article. 
  
 Subject to any applicable abandoned property law, the Trustee and the Paying Agent shall pay to the Company upon written
request any money held by them for the payment 

  

 71 

 
of principal or interest that remains unclaimed for two years, and, thereafter, Holders entitled to the money must look to the Company for payment as general
creditors, and the Trustee and the Paying Agent shall have no further liability with respect to such monies. 
  
 SECTION 8.05. Indemnity for Government Obligations. The Company shall pay and shall indemnify the Trustee against any tax, fee or other charge
imposed on or assessed against deposited U.S. Government Obligations or the principal and interest received on such U.S. Government Obligations. 
  
 SECTION 8.06. Reinstatement. If the Trustee or Paying Agent is unable to apply any money or U.S. Government Obligations in accordance with this
Article 8 by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the Company’s obligations under this Indenture and the
Securities shall be revived and reinstated as though no deposit had occurred pursuant to this Article 8 until such time as the Trustee or Paying Agent is permitted to apply all such money or U.S. Government Obligations in accordance with this
Article 8; provided, however, that, if the Company has made any payment of principal of or interest on, any Securities because of the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of
such Securities to receive such payment from the money or U.S. Government Obligations held by the Trustee or Paying Agent. 
  
 ARTICLE 9 
  
 AMENDMENTS 
  
 SECTION 9.01. Without Consent of Holders. (a) The Company, the Subsidiary Guarantors and the Trustee may amend this Indenture or the Securities without notice to or consent of any Holder: 
  
 (i) to cure any ambiguity, omission, defect or
inconsistency; 
  
 (ii) to comply with Article 5;

  
 (iii) to provide for uncertificated
Securities in addition to or in place of certificated Securities; provided, however, that the uncertificated Securities are issued in registered form for purposes of Section 163(f) of the Code or in a manner such that the
uncertificated Securities are described in Section 163(f)(2)(B) of the Code; 
  
 (iv) to make any change in Article 10 or Article 12 that would limit or terminate the benefits available to any holder of Senior Indebtedness of the Company or a Subsidiary Guarantor (or Representatives thereof) under
Article 10 or Article 12, respectively; 
  
 (v)
to add additional Guarantees with respect to the Securities, 
  
 (vi) to secure the Securities; 
  

 72 

 (vii) to add to the covenants of the Company for the benefit of the Holders or to
surrender any right or power herein conferred upon the Company; 
  
 (viii) to comply with any requirement of the SEC in connection with qualifying, or maintaining the qualification of, this Indenture under the TIA; 
  
 (ix) to make any change that does not adversely affect the rights of any Holder; 
  
 (x) to provide for the issuance of the Exchange Securities
or Additional Securities, which shall have terms substantially identical in all material respects to the Initial Securities (except that the transfer restrictions contained in the Initial Securities shall be modified or eliminated, as appropriate),
and which shall be treated, together with any outstanding Initial Securities, as a single issue of securities; or 
  
 (xi) to release a Subsidiary Guarantor from its obligations under its Subsidiary Guarantee or this Indenture in accordance with the
applicable provisions of this Indenture. 
  
 (b) An amendment
under this Section 9.01 may not make any change that adversely affects the rights under Article 10 or Article 12 of any holder of Senior Indebtedness of the Company or a Subsidiary Guarantor then outstanding unless the holders of such Senior
Indebtedness (or any group or Representative thereof authorized to give a consent) consent to such change. 
  
 After an amendment under this Section 9.01 becomes effective, the Company shall mail to Holders a notice briefly describing such amendment. The failure to
give such notice to all Holders, or any defect therein, shall not impair or affect the validity of an amendment under this Section 9.01. 
  
 SECTION 9.02. With Consent of Holders. (a) The Company, the Subsidiary Guarantors and the Trustee may amend this Indenture or the Securities
without notice to any Holder but with the written consent of the Holders of at least a majority in principal amount of the Securities then outstanding (including consents obtained in connection with a tender offer or exchange for the Securities).
Subject to Sections 6.04 and 6.07, the Holders of at least a majority in principal amount of the Securities then outstanding (including consents obtained in connection with a tender offer or exchange offer for the Securities) may waive compliance
with any provision of this Indenture or the Securities without notice to any other Holders. However, without the consent of each Holder affected, an amendment or waiver may not: 
  
 (i) reduce the amount of Securities whose Holders must consent to an amendment; 
  
 (ii) reduce the rate of or extend the time for payment of
interest on any Security; 
  
 (iii) reduce the
principal of or extend the Stated Maturity of any Security; 
  

 73 

 (iv) reduce the premium payable upon the redemption of any Security or change the time at
which any Security may be redeemed in accordance with Article 3; 
  
 (v) make any Security payable in money other than that stated in the Security; 
  
 (vi) make any change in Article 10 or Article 12 that adversely affects the rights of any Holder under Article 10 or Article 12 in any
material respect; 
  
 (vii) make any change in
Section 6.04 or 6.07 or the third sentence of this Section 9.02; or 
  
 (viii) release any Subsidiary Guarantee or modify a Subsidiary Guarantee so as to release any Subsidiary Guarantor from its obligations thereunder. 
  
 It shall not be necessary for the consent of the Holders under this Section 9.02 to approve the particular form of any
proposed amendment, but it shall be sufficient if such consent approves the substance thereof. 
  
 An amendment under this Section 9.02 may not make any change that adversely affects the rights under Article 10 or Article 12 of any holder of Senior Indebtedness of the Company then outstanding unless the holders of
such Senior Indebtedness (or any group or Representative thereof authorized to give a consent) consent to such change. 
  
 After an amendment under this Section 9.02 becomes effective, the Company shall mail to Holders a notice briefly describing such amendment. The failure to
give such notice to all Holders, or any defect therein, shall not impair or affect the validity of an amendment under this Section 9.02. 
  
 SECTION 9.03. Compliance with Trust Indenture Act. Every amendment to this Indenture or the Securities shall comply with the TIA as then in effect.

  
 SECTION 9.04. Revocation and Effect of Consents and
Waivers. (a) A consent to an amendment or a waiver by a Holder of a Security shall bind the Holder and every subsequent Holder of that Security or portion of the Security that evidences the same debt as the consenting Holder’s Security,
even if notation of the consent or waiver is not made on the Security. However, any such Holder or subsequent Holder may revoke the consent or waiver as to such Holder’s Security or portion of the Security if the Trustee receives the notice of
revocation before the date on which the Trustee receives an Officers’ Certificate from the Company certifying that the requisite number of consents have been received. After an amendment or waiver becomes effective, it shall bind every Holder.
An amendment or waiver becomes effective upon the (i) receipt by the Company or the Trustee of the requisite number of consents, (ii) satisfaction of conditions to effectiveness as set forth in this Indenture and any indenture supplemental hereto
containing such amendment or waiver and (iii) execution of such amendment or waiver (or supplemental indenture) by the Company and the Trustee. 
  
 (b) The Company may, but shall not be obligated to, fix a record date for the purpose of determining the Holders entitled to give their consent or take
any other action described above or required or permitted to be taken pursuant to this Indenture. If a record date 

  

 74 

 
is fixed, then notwithstanding the immediately preceding paragraph, those Persons who were Holders at such record date (or their duly designated proxies),
and only those Persons, shall be entitled to give such consent or to revoke any consent previously given or to take any such action, whether or not such Persons continue to be Holders after such record date. No such consent shall be valid or
effective for more than 120 days after such record date. 
  
 SECTION 9.05. Notation on or Exchange of Securities. If an amendment changes the terms of a Security, the Trustee or the Company may require the Holder of the Security to deliver it to the Trustee. The Trustee may place an
appropriate notation on the Security regarding the changed terms and return it to the Holder. Alternatively, if the Company or the Trustee so determines, the Company in exchange for the Security shall issue and the Trustee shall authenticate a new
Security that reflects the changed terms. Failure to make the appropriate notation or to issue a new Security shall not affect the validity of such amendment. 
  

SECTION 9.06. Trustee to Sign Amendments. The Trustee shall sign any amendment authorized pursuant to this Article 9 if the amendment does not
adversely affect the rights, duties, liabilities or immunities of the Trustee. If it does, the Trustee may but need not sign it. In signing such amendment the Trustee shall be entitled to receive indemnity reasonably satisfactory to it and to
receive, and (subject to Sections 7.01 and 7.02) shall be fully protected in relying upon, an Officers’ Certificate and an Opinion of Counsel stating that such amendment is authorized or permitted by this Indenture and that such amendment is
the legal, valid and binding obligation of the Company and the Subsidiary Guarantors enforceable against them in accordance with its terms, subject to customary exceptions, and complies with the provisions hereof (including Section 9.03).

  
 SECTION 9.07. Payment for Consent. Neither the Company
nor any Affiliate of the Company shall, directly or indirectly, pay or cause to be paid any consideration, whether by way of interest, fee or otherwise, to any Holder for or as an inducement to any consent, waiver or amendment of any of the terms or
provisions of this Indenture or the Securities unless such consideration is offered to be paid to all Holders that so consent, waive or agree to amend in the time frame set forth in solicitation documents relating to such consent, waiver or
agreement. 
  
 ARTICLE 10 
  
 SUBORDINATION 
  
 SECTION 10.01. Agreement To Subordinate. The Company agrees, and each
Holder by accepting a Security agrees, that the Indebtedness evidenced by the Securities is subordinated in right of payment, to the extent and in the manner provided in this Article 10, to the prior payment in full of all Senior Indebtedness of the
Company and that the subordination is for the benefit of and enforceable by the holders of such Senior Indebtedness. The Securities shall in all respects rank pari passu with all other Senior Subordinated Indebtedness of the Company
and shall rank senior to all existing and future Subordinated Obligations of the Company, and only Senior Indebtedness of the Company shall rank senior to the Securities in accordance with the provisions set forth herein. For purposes of this
Article 10, the Indebtedness evidenced by the Securities shall be deemed to include any additional interest charges payable 

  

 75 

 
pursuant to the provisions set forth in the Securities and the Registration Rights Agreement. All provisions of this Article 10 shall be subject to Section
10.12. 
  
 SECTION 10.02. Liquidation, Dissolution,
Bankruptcy. Upon any payment or distribution of the assets of the Company to its creditors upon a total or partial liquidation or a total or partial dissolution of the Company or in a bankruptcy, reorganization, insolvency, receivership or
similar proceeding relating to the Company or its property: 
  
 (a) holders of Senior Indebtedness of the Company shall be entitled to receive payment in full of such Senior Indebtedness before Holders shall be entitled to receive any payment of principal of or interest on the
Securities; and 
  
 (b) until the Senior
Indebtedness is paid in full, any payment or distribution to which Holders would be entitled but for this Article 10 shall be made to holders of such Senior Indebtedness as their interests may appear, except that Holders may receive (x) shares of
stock or equity interests and (y) any debt securities that are subordinated to such Senior Indebtedness to at least the same extent as the Securities. 
  
 SECTION 10.03. Default on Senior Indebtedness. The Company may not pay the principal of, premium (if any) or interest on the Securities or make any
deposit pursuant to Sections 8.01 and 8.02 and may not otherwise purchase, repurchase, redeem or otherwise acquire or retire for value any Securities (collectively, “pay the Securities”) if (a) interest, premium or principal in
respect of any Senior Indebtedness of the Company is not paid when due or (b) any other default on Senior Indebtedness of the Company occurs and the maturity of such Senior Indebtedness is accelerated in accordance with its terms unless, in either
case, (i) the default has been cured or waived and any such acceleration has been rescinded or (ii) such Senior Indebtedness has been paid in full; provided, however, that the Company may pay the Securities without regard to the
foregoing if the Company and the Trustee receive written notice approving such payment from the Representative of such Senior Indebtedness with respect to which either of the events set forth in clause (a) or (b) of this sentence has occurred and is
continuing. During the continuance of any default (other than a default described in clause (a) or (b) of the preceding sentence) with respect to any Designated Senior Indebtedness of the Company pursuant to which the maturity thereof may be
accelerated immediately without further notice (except such notice as may be required to effect such acceleration) or the expiration of any applicable grace periods, the Company may not pay the Securities for a period (a “Payment Blockage
Period”) commencing upon the receipt by the Trustee (with a copy to the Company) of written notice (a “Blockage Notice”) of such default from the Representative of such Designated Senior Indebtedness specifying an election
to effect a Payment Blockage Period and ending 179 days thereafter (or earlier if such Payment Blockage Period is terminated (a) by written notice to the Trustee and the Company from the Person or Persons who gave such Blockage Notice, (b) by
repayment in full of such Designated Senior Indebtedness or (c) because the default giving rise to such Blockage Notice (and no other default) is no longer continuing). Notwithstanding the provisions described in the immediately preceding sentence
(but subject to the provisions contained in the first sentence of this Section 10.03), unless the holders of such Designated Senior Indebtedness or the Representative of such holders shall have accelerated the maturity of such Designated Senior
Indebtedness, the Company may resume payments on the Securities after the end of such Payment Blockage Period, including any missed payments. Not more than one 

  

 76 

 
Blockage Notice may be given in any consecutive 360-day period, irrespective of the number of defaults with respect to Designated Senior Indebtedness during
such period; provided, however, that if any Blockage Notice within such 360-day period is given by or on behalf of any holders of Designated Senior Indebtedness other than the Bank Indebtedness, the Representative of the Bank
Indebtedness may give another Blockage Notice within such period; provided further, however, that in no event may the total number of days during which any Payment Blockage Period or Periods is in effect exceed 179 days in the
aggregate during any 360 consecutive day period. For purposes of this Section 10.03, no default or event of default that existed or was continuing on the date of the commencement of any Payment Blockage Period with respect to the Designated Senior
Indebtedness initiating such Payment Blockage Period shall be, or be made, the basis of the commencement of a subsequent Payment Blockage Period by the Representative of such Designated Senior Indebtedness, whether or not within a period of 360
consecutive days, unless such default or event of default shall have been cured or waived for a period of not less than 90 consecutive days. 
  
 SECTION 10.04. Acceleration of Payment of Securities. If payment of the Securities is accelerated because of an Event of Default, the Company or
the Trustee (provided, that the Trustee shall have received written notice from the Company, on which notice the Trustee shall be entitled to conclusively rely) shall promptly notify the holders of the Designated Senior Indebtedness of the
Company (or their Representative) of the acceleration. If any Designated Senior Indebtedness is outstanding, the Company may not pay the Securities until five Business Days after such holders or the Representative of such Designated Senior
Indebtedness receives notice of such acceleration and, thereafter, may pay the Securities only if this Article 10 otherwise permits payment at that time. 
  
 SECTION 10.05. When Distribution Must Be Paid Over. If a distribution is made to Holders that because of this Article 10 should not have been made
to them, the Holders who receive the distribution shall hold it in trust for holders of Senior Indebtedness of the Company and pay it over to them as their interests may appear. 
  
 SECTION 10.06. Subrogation. After all Senior Indebtedness of the Company is paid in full and until the Securities are
paid in full, Holders shall be subrogated to the rights of holders of such Senior Indebtedness to receive distributions applicable to Senior Indebtedness. A distribution made under this Article 10 to holders of such Senior Indebtedness which
otherwise would have been made to Holders is not, as between the Company and Holders, a payment by the Company on such Senior Indebtedness. 
  
 SECTION 10.07. Relative Rights. This Article 10 defines the relative rights of Holders and holders of Senior Indebtedness of the Company. Nothing
in this Indenture shall: 
  
 (a) impair, as
between the Company and Holders, the obligation of the Company, which is absolute and unconditional, to pay principal of and interest on the Securities in accordance with their terms; or 
  
 (b) prevent the Trustee or any Holder from exercising its available remedies upon a Default, subject to the
rights of holders of Senior Indebtedness of the Company to receive distributions otherwise payable to Holders. 
  

 77 

 SECTION 10.08. Subordination May Not Be Impaired by Company. No right of any holder of Senior
Indebtedness of the Company to enforce the subordination of the Indebtedness evidenced by the Securities shall be impaired by any act or failure to act by the Company or by their failure to comply with this Indenture. 
  
 SECTION 10.09. Rights of Trustee and Paying Agent. Notwithstanding
Section 10.03, the Trustee or Paying Agent may continue to make payments on the Securities and shall not be charged with knowledge of the existence of facts that would prohibit the making of any such payments unless, not less than two Business Days
prior to the date of such payment, a Trust Officer of the Trustee receives notice satisfactory to it that payments may not be made under this Article 10. The Company, the Registrar, the Paying Agent, a Representative or a holder of Senior
Indebtedness of the Company may give the notice; provided, however, that, if an issue of Senior Indebtedness of the Company has a Representative, only the Representative may give the notice. 
  
 The Trustee in its individual or any other capacity may hold Senior
Indebtedness of the Company with the same rights it would have if it were not Trustee. The Registrar and the Paying Agent may do the same with like rights. The Trustee shall be entitled to all the rights set forth in this Article 10 with respect to
any Senior Indebtedness of the Company which may at any time be held by it, to the same extent as any other holder of such Senior Indebtedness; and nothing in Article 7 shall deprive the Trustee of any of its rights as such holder. Nothing in this
Article 10 shall apply to claims of, or payments to, the Trustee under or pursuant to Section 7.07 or any other Section of this Indenture. 
  
 SECTION 10.10. Distribution or Notice to Representative. Whenever a distribution is to be made or a notice given to holders of Senior Indebtedness
of the Company, the distribution may be made and the notice given to their Representative (if any). 
  
 SECTION 10.11. Article 10 Not To Prevent Events of Default or Limit Right To Accelerate. The failure to make a payment pursuant to the Securities
by reason of any provision in this Article 10 shall not be construed as preventing the occurrence of a Default. Nothing in this Article 10 shall have any effect on the right of the Holders or the Trustee to accelerate the maturity of the Securities.

  
 SECTION 10.12. Trust Monies Not Subordinated.
Notwithstanding anything contained herein to the contrary, payments from money or the proceeds of U.S. Government Obligations held in trust under Article 8 by the Trustee for the payment of principal of and interest on the Securities shall not be
subordinated to the prior payment of any Senior Indebtedness of the Company or subject to the restrictions set forth in this Article 10, and none of the Holders shall be obligated to pay over any such amount to the Company or any holder of Senior
Indebtedness of the Company or any other creditor of the Company. 
  
 SECTION 10.13. Trustee Entitled To Rely. Upon any payment or distribution pursuant to this Article 10, the Trustee and the Holders shall be entitled to rely (a) upon any order or decree of a court of competent jurisdiction in which
any proceedings of the nature referred to in Section 10.02 are pending, (b) upon a certificate of the liquidating trustee or agent or other Person making such payment or distribution to the Trustee or to the Holders or (c) upon 

  

 78 

 
the Representatives for the holders of Senior Indebtedness of the Company for the purpose of ascertaining the Persons entitled to participate in such payment
or distribution, the holders of such Senior Indebtedness and other Indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this Article 10. In
the event that the Trustee determines, in good faith, that evidence is required with respect to the right of any Person as a holder of Senior Indebtedness of the Company to participate in any payment or distribution pursuant to this Article 10, the
Trustee may request such Person to furnish evidence to the reasonable satisfaction of the Trustee as to the amount of such Senior Indebtedness held by such Person, the extent to which such Person is entitled to participate in such payment or
distribution and other facts pertinent to the rights of such Person under this Article 10, and, if such evidence is not furnished, the Trustee may defer any payment to such Person pending judicial determination as to the right of such Person to
receive such payment. The provisions of Sections 7.01 and 7.02 shall be applicable to all actions or omissions of actions by the Trustee pursuant to this Article 10. 
  
 SECTION 10.14. Trustee To Effectuate Subordination. Each Holder by accepting a Security authorizes and directs the
Trustee on his behalf to take such action as may be necessary or appropriate to acknowledge or effectuate the subordination between the Holders and the holders of Senior Indebtedness of the Company as provided in this Article 10 and appoints the
Trustee as attorney-in-fact for any and all such purposes. 
  
 SECTION 10.15. Trustee Not Fiduciary for Holders of Senior Indebtedness. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Indebtedness of the Company and shall not be liable to any such holders if it
shall mistakenly pay over or distribute to Holders, the Company or any other Person, money or assets to which any holders of Senior Indebtedness of the Company shall be entitled by virtue of this Article 10 or otherwise. 
  
 SECTION 10.16. Reliance by Holders of Senior Indebtedness on Subordination
Provisions. Each Holder by accepting a Security acknowledges and agrees that the foregoing subordination provisions are, and are intended to be, an inducement and a consideration to each holder of any Senior Indebtedness of the Company, whether
such Senior Indebtedness was created or acquired before or after the issuance of the Securities, to acquire and continue to hold, or to continue to hold, such Senior Indebtedness, and such holder of such Senior Indebtedness shall be deemed
conclusively to have relied on such subordination provisions in acquiring and continuing to hold, or in continuing to hold, such Senior Indebtedness. 
  
 ARTICLE 11 
  
 SUBSIDIARY GUARANTEES 
  
 SECTION 11.01. Subsidiary Guarantees. (a) All existing and future Domestic Subsidiaries of the Company, other than (x) any existing or future Receivables Entity and (y) any Domestic Subsidiary whose annual
revenues (other than intercompany revenues) and total assets (other than intercompany receivables) are each less than $100,000, hereby jointly and severally irrevocably and unconditionally guarantee, as primary obligors and not merely as sureties,
to each Holder and to the Trustee and its successors and assigns (i) the full and punctual payment when due, whether at Stated Maturity, by acceleration, by redemption or otherwise, of all 

  

 79 

 
obligations of the Company under this Indenture (including obligations to the Trustee) and the Securities, whether for payment of principal of or interest on
the Securities and all other monetary obligations of the Company under this Indenture and the Securities (including interest accruing after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like
proceeding, relating to the Company or any Subsidiary Guarantor, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding) and (ii) the full and punctual performance within applicable grace periods of all other
obligations of the Company whether for fees, expenses, indemnification or otherwise under this Indenture and the Securities (all the foregoing being hereinafter collectively called the “Guaranteed Obligations”). Each Subsidiary
Guarantor further agrees that the Guaranteed Obligations may be extended or renewed, in whole or in part, without notice or further assent from each such Subsidiary Guarantor, and that each such Subsidiary Guarantor shall remain bound under this
Article 11 notwithstanding any extension or renewal of any Guaranteed Obligation. 
  
 (b) Each Subsidiary Guarantor waives presentation to, demand of payment from and protest to the Company of any of the Guaranteed Obligations and also waives notice of protest for nonpayment. Each Subsidiary Guarantor
waives notice of any default under the Securities or the Guaranteed Obligations. The obligations of each Subsidiary Guarantor hereunder shall not be affected by (i) the failure of any Holder or the Trustee to assert any claim or demand or to enforce
any right or remedy against the Company or any other Person under this Indenture, the Securities or any other agreement or otherwise; (ii) any extension or renewal of any thereof; (iii) any rescission, waiver, amendment or modification of any of the
terms or provisions of this Indenture, the Securities or any other agreement; (iv) the release of any security held by any Holder or the Trustee for the Guaranteed Obligations or any of them; (v) the failure of any Holder or Trustee to exercise any
right or remedy against any other guarantor of the Guaranteed Obligations; or (vi) any change in the ownership of such Subsidiary Guarantor, except as provided in Section 11.02(b). 
  
 (c) Each Subsidiary Guarantor hereby waives any right to which it may be entitled to have its obligations hereunder divided
among the Subsidiary Guarantors, such that such Subsidiary Guarantor’s obligations would be less than the full amount claimed. Each Subsidiary Guarantor hereby waives any right to which it may be entitled to have the assets of the Company first
be used and depleted as payment of the Company’s or such Subsidiary Guarantor’s obligations hereunder prior to any amounts being claimed from or paid by such Subsidiary Guarantor hereunder. Each Subsidiary Guarantor hereby waives any right
to which it may be entitled to require that the Company be sued prior to an action being initiated against such Subsidiary Guarantor. 
  
 (d) Each Subsidiary Guarantor further agrees that its Subsidiary Guarantee herein constitutes a guarantee of payment, performance and compliance when due
(and not a guarantee of collection) and waives any right to require that any resort be had by any Holder or the Trustee to any security held for payment of the Guaranteed Obligations. 
  
 (e) The Subsidiary Guarantee of each Subsidiary Guarantor is, to the extent and in the manner set forth in Article 12,
subordinated and subject in right of payment to the prior payment in full of the principal of and premium, if any, and interest on all Senior 

  

 80 

 
Indebtedness of the relevant Subsidiary Guarantor and is made subject to such provisions of this Indenture. 
  
 (f) Except as expressly set forth in Sections 8.01(b) and 11.02, the
obligations of each Subsidiary Guarantor hereunder shall not be subject to any reduction, limitation, impairment or termination for any reason, including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to
any defense of setoff, counterclaim, recoupment or termination whatsoever or by reason of the invalidity, illegality or unenforceability of the Guaranteed Obligations or otherwise. Without limiting the generality of the foregoing, the obligations of
each Subsidiary Guarantor herein shall not be discharged or impaired or otherwise affected by the failure of any Holder or the Trustee to assert any claim or demand or to enforce any remedy under this Indenture, the Securities or any other
agreement, by any waiver or modification of any thereof, by any default, failure or delay, willful or otherwise, in the performance of the obligations, or by any other act or thing or omission or delay to do any other act or thing which may or might
in any manner or to any extent vary the risk of any Subsidiary Guarantor or would otherwise operate as a discharge of any Subsidiary Guarantor as a matter of law or equity. 
  
 (g) Subject to Section 11.02, each Subsidiary Guarantor agrees that its Subsidiary Guarantee shall remain in full force and
effect until payment in full of all the Guaranteed Obligations. Each Subsidiary Guarantor further agrees that its Subsidiary Guarantee herein shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part
thereof, of principal of or interest on any Guaranteed Obligation is rescinded or must otherwise be restored by any Holder or the Trustee upon the bankruptcy or reorganization of the Company or otherwise. 
  
 (h) In furtherance of the foregoing and not in limitation of any other right
which any Holder or the Trustee has at law or in equity against any Subsidiary Guarantor by virtue hereof, upon the failure of the Company to pay the principal of or interest on any Guaranteed Obligation when and as the same shall become due,
whether at maturity, by acceleration, by redemption or otherwise, or to perform or comply with any other Guaranteed Obligation, each Subsidiary Guarantor hereby promises to and shall, upon receipt of written demand by the Trustee, forthwith pay, or
cause to be paid, in cash, to the Holders or the Trustee an amount equal to the sum of (i) the unpaid principal amount of such Guaranteed Obligations, (ii) accrued and unpaid interest on such Guaranteed Obligations (but only to the extent not
prohibited by law) (including interest accruing after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, relating to the Company or any Subsidiary Guarantor, whether or not a claim for
post-filing or post-petition interest is allowed in such proceeding) and (iii) all other monetary obligations of the Company to the Holders and the Trustee. 
  
 (i) Each Subsidiary Guarantor agrees that, as between it, on the one hand, and the Holders and the Trustee, on the other hand, (i) the maturity of the
Guaranteed Obligations guaranteed hereby may be accelerated as provided in Article 6 for the purposes of any Subsidiary Guarantee herein, notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of the
Guaranteed Obligations guaranteed hereby, and (ii) in the event of any declaration of acceleration of such Guaranteed Obligations as provided in Article 6, such 

  

 81 

 
Guaranteed Obligations (whether or not due and payable) shall forthwith become due and payable by such Subsidiary Guarantor for the purposes of this Section
11.01. 
  
 (j) Each Subsidiary Guarantor also agrees to pay any
and all costs and expenses (including reasonable attorneys’ fees and expenses) incurred by the Trustee or any Holder in enforcing any rights under this Section 11.01. 
  
 (k) Upon request of the Trustee, each Subsidiary Guarantor shall execute and deliver such further instruments and do such
further acts as may be reasonably necessary or proper to carry out more effectively the purpose of this Indenture. 
  
 SECTION 11.02. Limitation on Liability. (a) Any term or provision of this Indenture to the contrary notwithstanding, the maximum aggregate amount
of the Guaranteed Obligations guaranteed hereunder by any Subsidiary Guarantor shall not exceed the maximum amount (after giving effect to all other contingent and fixed liabilities of such Subsidiary Guarantor) that can be hereby guaranteed without
rendering this Indenture, as it relates to such Subsidiary Guarantor, voidable under applicable law relating to fraudulent conveyance or fraudulent transfer or similar laws affecting the rights of creditors generally. 
  
 (b) A Subsidiary Guarantee as to any Subsidiary Guarantor shall terminate and
be of no further force or effect and such Subsidiary Guarantor shall be deemed to be released from all obligations under this Article 11: 
  
 (1) in connection with any consolidation or merger if the Subsidiary Guarantor or surviving Person shall cease to be a Subsidiary of the
Company, if the consolidation or merger complies with Article 4; 
  
 (2) in connection with any sale or other disposition of all or substantially all of the assets of that Subsidiary Guarantor (including by way of merger or consolidation) to a Person that is not (either before or after
giving effect to such transaction) the Company or a Subsidiary of the Company, if the sale or other disposition complies with Article 4; 
  
 (3) if the Subsidiary Guarantor is designated to be an Unrestricted Subsidiary in accordance with this Indenture; 
  
 (4) in connection with any sale of Capital Stock that
results in such Subsidiary Guarantor ceasing to be a Subsidiary of the Company, if the sale complies with Article 4; 
  
 (5) upon the release of such Subsidiary Guarantor from its liability in respect of the Bank Indebtedness of the Company and all other
Subsidiary Guarantors; and 
  
 (6) upon the legal
defeasance of the Securities as described under Article 8. 
  
 At the request of
the Company, the Trustee shall execute and deliver an appropriate instrument evidencing such release (in the form provided by the Company). 
  

 82 

 SECTION 11.03. Successors and Assigns. This Article 11 shall be binding upon each Subsidiary
Guarantor and its successors and assigns and shall inure to the benefit of the successors and assigns of the Trustee and the Holders and, in the event of any transfer or assignment of rights by any Holder or the Trustee, the rights and privileges
conferred upon that party in this Indenture and in the Securities shall automatically extend to and be vested in such transferee or assignee, all subject to the terms and conditions of this Indenture. 
  
 SECTION 11.04. No Waiver. Neither a failure nor a delay on the part of
either the Trustee or the Holders in exercising any right, power or privilege under this Article 11 shall operate as a waiver thereof, nor shall a single or partial exercise thereof preclude any other or further exercise of any right, power or
privilege. The rights, remedies and benefits of the Trustee and the Holders herein expressly specified are cumulative and not exclusive of any other rights, remedies or benefits which either may have under this Article 11 at law, in equity, by
statute or otherwise. 
  
 SECTION 11.05. Right of
Contribution. Each Subsidiary Guarantor hereby agrees that to the extent that any Subsidiary Guarantor shall have paid more than its proportionate share of any payment made on the obligations under the Subsidiary Guarantees, such Subsidiary
Guarantor shall be entitled to seek and receive contribution from and against the Company, or any other Subsidiary Guarantor who has not paid its proportionate share of such payment. The provisions of this Section 11.05 shall in no respect limit the
obligations and liabilities of each Subsidiary Guarantor to the Trustee and the Holders, and each Subsidiary Guarantor shall remain liable to the Trustee and the Holders for the full amount guaranteed by such Subsidiary Guarantor hereunder.

  
 SECTION 11.06. No Subrogation. Notwithstanding any
payment or payments made by each Subsidiary Guarantor hereunder, no Subsidiary Guarantor shall be entitled to be subrogated to any of the rights of the Trustee or any Holder against the Company or any other Subsidiary Guarantor or any collateral
security or guarantee or right of offset held by the Trustee or any Holder for the payment of the Guaranteed Obligations, nor shall any Subsidiary Guarantor seek or be entitled to seek any contribution or reimbursement from the Company or any other
Subsidiary Guarantor in respect of payments made by such Subsidiary Guarantor hereunder, until all amounts owing to the Trustee and the Holders by the Company on account of the Guaranteed Obligations and all obligations to which the Guaranteed
Obligations are subordinated as provided in Article 12 are paid in full. If any amount shall be paid to any Subsidiary Guarantor on account of such subrogation rights at any time when all of the Guaranteed Obligations shall not have been paid in
full, such amount shall be held by such Subsidiary Guarantor in trust for the Trustee and the Holders, segregated from other funds of such Subsidiary Guarantor, and shall, forthwith upon receipt by such Subsidiary Guarantor, be turned over to the
Trustee in the exact form received by such Subsidiary Guarantor (duly indorsed by such Subsidiary Guarantor to the Trustee, if required), to be applied against the Guaranteed Obligations or the obligations to which the Guaranteed Obligations are
subordinated as provided in Article 12, as the case may be. 
  
 SECTION 11.07. Execution of Supplemental Indenture for Future Subsidiary Guarantors. Each Subsidiary that is not a party to the Indenture on the date hereof and is required to become a Subsidiary Guarantor pursuant to Section 4.11
shall promptly execute and 

  

 83 

 
deliver to the Trustee a supplemental indenture in the form of Exhibit C hereto pursuant to which such Subsidiary shall become a Subsidiary Guarantor under
this Article 11 and shall guarantee the Guaranteed Obligations. Concurrently with the execution and delivery of such supplemental indenture, the Company shall deliver to the Trustee an Opinion of Counsel and an Officers’ Certificate to the
effect that such supplemental indenture has been duly authorized, executed and delivered by such Subsidiary and that, subject to the application of bankruptcy, insolvency, moratorium, fraudulent conveyance or transfer and other similar laws relating
to creditors’ rights generally and to the principles of equity, whether considered in a proceeding at law or in equity, the Subsidiary Guarantee of such Subsidiary Guarantor is a legal, valid and binding obligation of such Subsidiary Guarantor,
enforceable against such Subsidiary Guarantor in accordance with its terms and or with respect to such other matters as the Trustee may reasonably request. 
  
 SECTION 11.08. Non-Impairment. The failure to endorse a Subsidiary Guarantee on any Security shall not affect or impair the validity thereof.

  
 ARTICLE 12 
  
 SUBORDINATION OF THE SUBSIDIARY GUARANTEES 
  
 SECTION 12.01. Agreement To Subordinate. Each Subsidiary Guarantor
agrees, and each Holder by accepting a Security agrees, that the obligations of a Subsidiary Guarantor hereunder are subordinated in right of payment, to the extent and in the manner provided in this Article 12, to the prior payment in full of all
Senior Indebtedness of such Subsidiary Guarantor and that the subordination is for the benefit of and enforceable by the holders of such Senior Indebtedness of such Subsidiary Guarantor. The obligations hereunder with respect to a Subsidiary
Guarantor shall in all respects rank pari passu with all other Senior Subordinated Indebtedness of such Subsidiary Guarantor and shall rank senior to all existing and future Subordinated Obligations of such Subsidiary Guarantor; and
only Indebtedness of such Subsidiary Guarantor that is Senior Indebtedness of such Subsidiary Guarantor shall rank senior to the obligations of such Subsidiary Guarantor in accordance with the provisions set forth herein. 
  
 SECTION 12.02. Liquidation, Dissolution, Bankruptcy. Upon any payment
or distribution of the assets of a Subsidiary Guarantor to creditors upon a total or partial liquidation or a total or partial dissolution of such Subsidiary Guarantor or in a bankruptcy, reorganization, insolvency, receivership or similar
proceeding relating to such Subsidiary Guarantor and its properties: 
  
 (a) holders of Senior Indebtedness of such Subsidiary Guarantor shall be entitled to receive payment in full of such Senior Indebtedness before Holders shall be entitled to receive any payment pursuant to any
Guaranteed Obligations from such Subsidiary Guarantor; and 
  
 (b) until the Senior Indebtedness of such Subsidiary Guarantor is paid in full, any payment or distribution to which Holders would be entitled but for this Article 12 shall be made to holders of such Senior
Indebtedness as their respective interests may appear, except that Holders may receive (x) shares of stock or equity interests and (y) any debt 

  

 84 

 
securities that are subordinated to such Senior Indebtedness to at least the same extent as the Subsidiary Guarantees. 
  
 SECTION 12.03. Default on Senior Indebtedness of a Subsidiary
Guarantor. A Subsidiary Guarantor may not make any payment pursuant to any of the Guaranteed Obligations or repurchase, redeem or otherwise retire any Securities (collectively, “pay its Guarantee”) if (a) any Senior Indebtedness
of the Company or of such Subsidiary Guarantor is not paid when due or (b) any other default on Senior Indebtedness of the Company or of such Subsidiary Guarantor occurs and the maturity of such Senior Indebtedness is accelerated in accordance with
its terms unless, in either case, (i) the default has been cured or waived and any such acceleration has been rescinded or (ii) such Senior Indebtedness has been paid in full; provided, however, that such Subsidiary Guarantor may pay
its Guarantee without regard to the foregoing if such Subsidiary Guarantor and the Trustee receive written notice approving such payment from the Representative of the holders of such Senior Indebtedness with respect to which either of the events in
clause (a) or (b) of this sentence has occurred and is continuing. During the continuance of any default (other than a default described in clause (a) or (b) of the preceding sentence) with respect to any Designated Senior Indebtedness or Designated
Guarantor Senior Indebtedness pursuant to which the maturity thereof may be accelerated immediately without further notice (except such notice as may be required to effect such acceleration) or the expiration of any applicable grace periods, such
Subsidiary Guarantor may not pay its Guarantee for a period (a “Guarantee Payment Blockage Period”) commencing upon the receipt by the Trustee (with a copy to such Subsidiary Guarantor and the Company) of written notice (a
“Guarantee Blockage Notice”) of such default from the Representative of the holders of the Designated Senior Indebtedness or Designated Guarantor Senior Indebtedness specifying an election to effect a Guarantee Payment Blockage
Period and ending 179 days thereafter (or earlier if such Guarantee Payment Blockage Period is terminated (a) by written notice to the Trustee (with a copy to such Subsidiary Guarantor and the Company) from the Person or Persons who gave such
Guarantee Blockage Notice, (b) by repayment in full of such Designated Senior Indebtedness or Designated Guarantor Senior Indebtedness or (c) because the default giving rise to such Guarantee Blockage Notice (and no other default) is no longer
continuing). Notwithstanding the provisions described in the immediately preceding sentence (but subject to the provisions contained in the first sentence of this Section 12.03), unless the holders of such Designated Senior Indebtedness or
Designated Guarantor Senior Indebtedness or the Representative of such holders shall have accelerated the maturity of such Designated Senior Indebtedness or Designated Guarantor Senior Indebtedness, such Subsidiary Guarantor may resume to paying its
Subsidiary Guarantee after such Guarantee Payment Blockage Period, including any missed payments. Not more than one Guarantee Blockage Notice may be given with respect to a Subsidiary Guarantor in any consecutive 360-day period, irrespective of the
number of defaults with respect to Designated Senior Indebtedness or Designated Guarantor Senior Indebtedness during such period; provided, however, that if any Guarantee Blockage Notice within such 360-day period is given by or on
behalf of any holders of Designated Senior Indebtedness or Designated Guarantor Senior Indebtedness other than the Bank Indebtedness, the Representative of the Bank Indebtedness may give another Guarantee Blockage Notice within such period;
provided further, however, that in no event may the total number of days during which any Guarantee Payment Blockage Period or Periods is in effect exceed 179 days in the aggregate during any 360 consecutive day period. For purposes of
this Section 12.03, no default or event of default that existed or was continuing on the date of the commencement of any 

  

 85 

 
Guarantee Payment Blockage Period with respect to the Designated Senior Indebtedness or Designated Guarantor Senior Indebtedness initiating such Guarantee
Payment Blockage Period shall be, or be made, the basis of the commencement of a subsequent Guarantee Payment Blockage Period by the Representative of such Designated Senior Indebtedness or Designated Guarantor Senior Indebtedness, whether or not
within a period of 360 consecutive days, unless such default or event of default shall have been cured or waived for a period of not less than 90 consecutive days. 
  
 SECTION 12.04. Demand for Payment. If payment of the Securities is accelerated because of an Event of Default and a
demand for payment is made on a Subsidiary Guarantor pursuant to Article 11, the Company or the Trustee (provided that the Trustee shall have received written notice from the Company or such Subsidiary Guarantor, on which notice the Trustee
shall be entitled to conclusively rely) shall promptly notify the holders of the Designated Senior Indebtedness and Designated Guarantor Senior Indebtedness (or the Representative of such holders) of such demand. If any Designated Senior
Indebtedness or Designated Guarantor Senior Indebtedness is outstanding, such Subsidiary Guarantor may not pay its Guarantee until five Business Days after such holders or the Representative of the holders of the Designated Senior Indebtedness and
Designated Guarantor Senior Indebtedness receive notice of such demand and, thereafter, may pay its Guarantee only if this Article 12 otherwise permits payment at that time. 
  
 SECTION 12.05. When Distribution Must Be Paid Over. If a payment or distribution is made to Holders that because of
this Article 12 should not have been made to them, the Holders who receive the payment or distribution shall hold such payment or distribution in trust for holders of the Senior Indebtedness of the relevant Subsidiary Guarantor and pay it over to
them as their respective interests may appear. 
  
 SECTION 12.06.
Subrogation. After all Senior Indebtedness of a Subsidiary Guarantor is paid in full and until the Securities are paid in full in cash, Holders shall be subrogated to the rights of holders of Senior Indebtedness of such Subsidiary Guarantor
to receive distributions applicable to Senior Indebtedness of such Subsidiary Guarantor. A distribution made under this Article 12 to holders of Senior Indebtedness of such Subsidiary Guarantor which otherwise would have been made to Holders is not,
as between such Subsidiary Guarantor and Holders, a payment by such Subsidiary Guarantor on Senior Indebtedness of such Subsidiary Guarantor. 
  
 SECTION 12.07. Relative Rights. This Article 12 defines the relative rights of Holders and holders of Senior Indebtedness of a Subsidiary
Guarantor. Nothing in this Indenture shall: 
  
 (a) impair, as between a Subsidiary Guarantor and Holders, the obligation of a Subsidiary Guarantor, which is absolute and unconditional, to make payments with respect to the Guaranteed Obligations to the extent set forth in Article 11; or

  
 (b) prevent the Trustee or any Holder from
exercising its available remedies upon a default by a Subsidiary Guarantor under its obligations with respect to the 

  

 86 

 
Guaranteed Obligations, subject to the rights of holders of Senior Indebtedness of such Subsidiary Guarantor to receive distributions otherwise payable to
Holders. 
  
 SECTION 12.08. Subordination May Not Be Impaired
by a Subsidiary Guarantor. No right of any holder of Senior Indebtedness of a Subsidiary Guarantor to enforce the subordination of the obligations of such Subsidiary Guarantor hereunder shall be impaired by any act or failure to act by such
Subsidiary Guarantor or by its failure to comply with this Indenture. 
  
 SECTION 12.09. Rights of Trustee and Paying Agent. Notwithstanding Section 12.03, the Trustee or the Paying Agent may continue to make payments on the Securities and shall not be charged with knowledge of the existence of facts that
would prohibit the making of any such payments unless, not less than two Business Days prior to the date of such payment, a Trust Officer of the Trustee receives notice satisfactory to it that payments may not be made under this Article 12. A
Subsidiary Guarantor, the Registrar, the Paying Agent, a Representative or a holder of Senior Indebtedness of the Company or a Subsidiary Guarantor may give the notice; provided, however, that if an issue of Senior Indebtedness of the
Company or a Subsidiary Guarantor has a Representative, only the Representative may give the notice. 
  
 The Trustee in its individual or any other capacity may hold Senior Indebtedness of a Subsidiary Guarantor with the same rights it would have if it were
not Trustee. The Registrar and the Paying Agent may do the same with like rights. The Trustee shall be entitled to all the rights set forth in this Article 12 with respect to any Senior Indebtedness of a Subsidiary Guarantor which may at any time be
held by it, to the same extent as any other holder of Senior Indebtedness of such Subsidiary Guarantor; and nothing in Article 7 shall deprive the Trustee of any of its rights as such holder. Nothing in this Article 12 shall apply to claims of, or
payments to, the Trustee under or pursuant to Section 7.07 or any other Section of this Indenture. 
  
 SECTION 12.10. Distribution or Notice to Representative. Whenever a distribution is to be made or a notice given to holders of Senior Indebtedness
of a Subsidiary Guarantor, the distribution may be made and the notice given to their Representative (if any). 
  
 SECTION 12.11. Article 12 Not To Prevent Events of Default or Limit Right To Accelerate. The failure of a Subsidiary Guarantor to make a payment on
any of its obligations by reason of any provision in this Article 12 shall not be construed as preventing the occurrence of a default by such Subsidiary Guarantor under such obligations. Nothing in this Article 12 shall have any effect on the right
of the Holders or the Trustee to make a demand for payment on a Subsidiary Guarantor pursuant to Article 11. 
  
 SECTION 12.12. Defeasance. Notwithstanding anything contained herein to the contrary, payments from money or the proceeds of U.S. Government
Obligations held in trust under Article 8 by the Trustee for the payment of principal of, and interest on, the Securities shall not be subordinated to the prior payment of any Senior Indebtedness of any Subsidiary Guarantor or subject to the
restrictions set forth in this Article 12, and none of the Holders shall be obligated to pay over any such amount to a Subsidiary Guarantor or any holder of Senior Indebtedness of Subsidiary Guarantor or any other creditor of a Subsidiary Guarantor.

  

 87 

 SECTION 12.13. Trustee Entitled To Rely. Upon any payment or distribution pursuant to this Article
12, the Trustee and the Holders shall be entitled to rely (a) upon any order or decree of a court of competent jurisdiction in which any proceedings of the nature referred to in Section 12.02 are pending, (b) upon a certificate of the liquidating
trustee or agent or other Person making such payment or distribution to the Trustee or to the Holders or (c) upon the Representatives for the holders of Senior Indebtedness of a Subsidiary Guarantor for the purpose of ascertaining the Persons
entitled to participate in such payment or distribution, the holders of the Senior Indebtedness of a Subsidiary Guarantor and other Indebtedness of a Subsidiary Guarantor, the amount thereof or payable thereon, the amount or amounts paid or
distributed thereon and all other facts pertinent thereto or to this Article 12. In the event that the Trustee determines, in good faith, that evidence is required with respect to the right of any Person as a holder of Senior Indebtedness of a
Subsidiary Guarantor to participate in any payment or distribution pursuant to this Article 12, the Trustee may request such Person to furnish evidence to the reasonable satisfaction of the Trustee as to the amount of Senior Indebtedness of such
Subsidiary Guarantor held by such Person, the extent to which such Person is entitled to participate in such payment or distribution and other facts pertinent to the rights of such Person under this Article 12, and, if such evidence is not
furnished, the Trustee may defer any payment to such Person pending judicial determination as to the right of such Person to receive such payment. The provisions of Sections 7.01 and 7.02 shall be applicable to all actions or omissions of actions by
the Trustee pursuant to this Article 12. 
  
 SECTION 12.14.
Trustee To Effectuate Subordination. Each Holder by accepting a Security authorizes and directs the Trustee on his or her behalf to take such action as may be necessary or appropriate to acknowledge or effectuate the subordination between the
Holders and the holders of Senior Indebtedness of each of the Subsidiary Guarantors as provided in this Article 12 and appoints the Trustee as attorney-in-fact for any and all such purposes. 
  
 SECTION 12.15. Trustee Not Fiduciary for Holders of Senior Indebtedness of
a Subsidiary Guarantor. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Indebtedness of a Subsidiary Guarantor and shall not be liable to any such holders if it shall mistakenly pay over or distribute to
Holders or the relevant Subsidiary Guarantor or any other Person, money or assets to which any holders of Senior Indebtedness of such Subsidiary Guarantor shall be entitled by virtue of this Article 12 or otherwise. 
  
 SECTION 12.16. Reliance by Holders of Senior Indebtedness of a Subsidiary
Guarantor on Subordination Provisions. Each Holder by accepting a Security acknowledges and agrees that the foregoing subordination provisions are, and are intended to be, an inducement and a consideration to each holder of any Senior
Indebtedness of a Subsidiary Guarantor, whether such Senior Indebtedness was created or acquired before or after the issuance of the Securities, to acquire and continue to hold, or to continue to hold, such Senior Indebtedness, and such holder of
Senior Indebtedness shall be deemed conclusively to have relied on such subordination provisions in acquiring and continuing to hold, or in continuing to hold, such Senior Indebtedness. 
  

 88 

 ARTICLE 13 
  
 MISCELLANEOUS 
  
 SECTION 13.01. Trust Indenture Act Controls. If and to the extent that any provision of this Indenture limits, qualifies or conflicts with the
duties imposed by, or with another provision (an “incorporated provision”) included in this Indenture by operation of, Sections 310 to 318 of the TIA, inclusive, such imposed duties or incorporated provision shall control.

  
 SECTION 13.02. Notices. Any notice or communication
shall be in writing and delivered in person or mailed by first-class mail addressed as follows: 
  
 if to the Company: 
  
 Church & Dwight Co., Inc. 
 469 North
Harrison Street 
 Princeton, New Jersey 08543 
  
 Attention of: Secretary 
  
 if to the Trustee: 
  
 The Bank of New York 
 101 Barclay Street, 8W

 New York, NY 10286 
  
 Attention of: Corporate Trust Administration 
  
 The Company or the Trustee by notice to the other may designate additional or different addresses for subsequent notices or communications. 
  
 Any notice or communication to the Company or the Trustee shall be deemed to
have been given or made (a) as of the date so delivered, if personally delivered, (b) when receipt acknowledged, if telecopied, and (c) five (5) calendar days after mailing, if sent by registered or certified mail, postage prepaid (except that a
notice of change of address shall not be deemed to have been given until actually received by the addressee). Notices to the Trustee shall not be deemed effective or given unless actually received by the Trustee. 
  
 Any notice or communication mailed to a Holder shall be mailed, first class
mail, to the Holder at the Holder’s address as it appears on the registration books of the Registrar and shall be sufficiently given if so mailed within the time prescribed. 
  
 Failure to mail a notice or communication to a Holder or any defect in it shall not affect its sufficiency with respect to
other Holders. If a notice or communication is mailed in the manner provided above, it is duly given, whether or not the addressee receives it. 
  

 89 

 SECTION 13.03. Communication by Holders with Other Holders. Holders may communicate pursuant to
Section 312(b) of the TIA with other Holders with respect to their rights under this Indenture or the Securities. The Company, the Trustee, the Registrar and anyone else shall have the protection of Section 312(c) of the TIA. 
  
 SECTION 13.04. Certificate and Opinion as to Conditions Precedent.
Upon any request or application by the Company to the Trustee to take or refrain from taking any action under this Indenture, the Company shall furnish to the Trustee: 
  
 (a) an Officers’ Certificate in form reasonably satisfactory to the Trustee stating that, in the
opinion of the signers, all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with; and 
  
 (b) an Opinion of Counsel stating that, in the opinion of such counsel, all such conditions precedent have been complied with. 

 
 SECTION 13.05. Statements Required in Certificate or Opinion. Each
certificate or opinion with respect to compliance with a covenant or condition provided for in this Indenture (other than pursuant to Section 4.09) shall include: 
  
 (a) a statement that the individual making such certificate or opinion has read such covenant or condition;

  
 (b) a brief statement as to the nature and
scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; 
  
 (c) a statement that, in the opinion of such individual, he or she has made such examination or investigation as is necessary to enable
him or her to express an informed opinion as to whether or not such covenant or condition has been complied with; and 
  
 (d) a statement as to whether or not, in the opinion of such individual, such covenant or condition has been complied with;
provided, however, that with respect to matters of fact, an opinion of counsel may rely on an Officers’ Certificate or certificates of public officials. 
  
 SECTION 13.06. When Securities Disregarded. In determining whether the Holders of the required principal amount of
Securities have concurred in any direction, waiver or consent, Securities owned by the Company, any Subsidiary Guarantor or by any Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company
or any Subsidiary Guarantor shall be disregarded and deemed not to be outstanding, except that, for the purpose of determining whether the Trustee shall be protected in relying on any such direction, waiver or consent, only Securities that the
Trustee knows are so owned shall be so disregarded. Subject to the foregoing, only Securities outstanding at the time shall be considered in any such determination. 
  
 SECTION 13.07. Rules by Trustee, Paying Agent and Registrar. The Trustee, Paying Agent or Registrar may make
reasonable rules for their functions. 
  

 90 

 SECTION 13.08. Legal Holidays. A “Legal Holiday” is a Saturday, a Sunday or other
day on which banking institutions are authorized or required by law or regulation to close in the State of New York. If a payment date is a Legal Holiday, payment shall be made on the next succeeding day that is not a Legal Holiday, and no interest
shall accrue for the intervening period. If a regular record date is a Legal Holiday, the record date shall not be affected. 
  
 SECTION 13.09. GOVERNING LAW. THIS INDENTURE, THE SECURITIES AND THE GUARANTEES SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF
THE STATE OF NEW YORK. EACH OF THE PARTIES HERETO AGREES TO SUBMIT TO THE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE SECURITIES OR THE GUARANTEES. 
  
 SECTION 13.10. No Recourse Against Others. A director, officer,
employee, stockholder or equity holder, as such, of the Company or any of the Subsidiary Guarantors, shall not have any liability for any obligations of the Company or any of the Subsidiary Guarantors under the Securities or this Indenture or for
any claim based on, in respect of or by reason of such obligations or their creation. By accepting a Security, each Holder shall waive and release all such liability, to the extent permitted by applicable law. The waiver and release shall be part of
the consideration for the issue of the Securities. 
  
 SECTION
13.11. Successors. All agreements of the Company and each Subsidiary Guarantor in this Indenture and the Securities shall bind their respective successors. All agreements of the Trustee in this Indenture shall bind its successors. 

 
 SECTION 13.12. Multiple Originals. The parties may sign any number
of copies of this Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. One signed copy is enough to prove this Indenture. 
  
 SECTION 13.13. Qualification of Indenture. The Company shall qualify this Indenture under the TIA in accordance with
the terms and conditions of the Registration Rights Agreement and shall pay the Registration Expenses under and as defined in the Registration Rights Agreement. The Trustee shall be entitled to receive from the Company any such Officers’
Certificates, Opinions of Counsel or other documentation as it may reasonably request in connection with any such qualification of this Indenture under the TIA. 
  

SECTION 13.14. Table of Contents; Headings. The table of contents, cross-reference sheet and headings of the Articles and Sections of this
Indenture have been inserted for convenience of reference only, are not intended to be considered a part hereof and shall not modify or restrict any of the terms or provisions hereof. 
  

 91 

  
 IN WITNESS WHEREOF, the
parties have caused this Indenture to be duly executed as of the date first written above. 
  

			
	 CHURCH & DWIGHT CO., INC.

		
	By:	 	/s/    ZVI EIREF        
	 Name:
	 	Zvi Eiref
	 Title:
	 	Vice President Finance and Chief Financial Officer

  

			
	 CHURCH & DWIGHT COMPANY,
as Subsidiary Guarantor

		
	By:	 	/s/    ZVI EIREF        
	 Name:
	 	Zvi Eiref
	 Title:
	 	Vice President

  

			
	 THE BANK OF NEW YORK, as Trustee

		
	By:	 	/s/    ROBERT A.
MASSIMILLO        
	 Name:
	 	Robert A. Massimillo
	 Title:
	 	Vice President

  
 Indenture
dated as of December 22, 2004, among Church & Dwight Co., Inc., 
 Church & Dwight Company and The Bank of New York, as Trustee

  

  
 APPENDIX A 
  
 PROVISIONS RELATING TO INITIAL SECURITIES, 
 ADDITIONAL SECURITIES AND EXCHANGE SECURITIES 
  
 1. Definitions 
  
 1.1 Definitions 
  
 For the purposes of this Appendix A the following terms shall have the meanings indicated below: 
  
 “Applicable Procedures” means, with respect to any transfer
or transaction involving a Regulation S Global Security or beneficial interest therein, the rules and procedures of the Depositary, Euroclear and Clearstream for such Global Security, in each case to the extent applicable to such transaction and as
in effect from time to time. 
  
 “Clearstream”
means Clearstream Banking, société anonyme, or any successor securities clearing agency. 
  
 “Definitive Security” means a certificated Initial Security, Additional Security or Exchange Security (bearing the Restricted Securities
Legend if the transfer of such Security is restricted by applicable law) that does not include the Global Securities Legend. 
  
 “Depositary” means The Depository Trust Company, its nominees and their respective successors. 
  
 “Euroclear” means the clearance system operated by Euroclear
Bank S.A./N.V., or any successor securities clearing agency. 
  
 “Global Securities Legend” means the legend set forth under that caption in Exhibit A to this Indenture. 
  
 “IAI” means an institutional “accredited investor” as described in Rule 501(a)(1), (2), (3) or (7) under the Securities Act.

  
 “Initial Purchasers” means J.P. Morgan
Securities Inc. and Citigroup Global Markets Inc. 
  
 “Purchase Agreement” means (a) the Purchase Agreement dated December 15, 2004, among the Company and the Initial Purchasers and (b) any other similar Purchase Agreement relating to Additional Securities. 
  
 “QIB” means a “qualified institutional buyer” as
defined in Rule 144A. 
  
 “Registered Exchange
Offer” means the offer by the Company, pursuant to the Registration Rights Agreement, to certain Holders of Initial Securities and Additional Securities, to issue and deliver to such Holders, in exchange for their Initial Securities or
Additional 

  

 
Securities, a like aggregate principal amount of Exchange Securities registered under the Securities Act. 
  
 “Registration Rights Agreement” means (a) the Registration
Rights Agreement dated December 22, 2004, among the Company and the Initial Purchasers and (b) any other similar Registration Rights Agreement relating to Additional Securities. 
  
 “Regulation S” means Regulation S under the Securities Act. 
  
 “Regulation S Securities” means all Initial Securities and
Additional Securities offered and sold outside the United States in reliance on Regulation S. 
  
 “Restricted Period”, with respect to any Securities, means the period of 40 consecutive days beginning on and including the later of (a) the day on which such Securities are first offered to persons
other than distributors (as defined in Regulation S under the Securities Act) in reliance on Regulation S, notice of which day shall be promptly given by the Company to the Trustee, and (b) the Closing Date with respect to such Securities.

  
 “Restricted Securities Legend” means the
legend set forth in Section 2.3(e)(i) herein. 
  
 “Rule
501” means Rule 501(a)(1), (2), (3) or (7) under the Securities Act. 
  
 “Rule 144A” means Rule 144A under the Securities Act. 
  
 “Rule 144A Securities” means all Initial Securities and Additional Securities offered and sold to QIBs in reliance on Rule 144A.

  
 “Securities Custodian” means the custodian
with respect to a Global Security (as appointed by the Depositary) or any successor person thereto, who shall initially be the Trustee. 
  
 “Shelf Registration Statement” means a registration statement filed by the Company in connection with the offer and sale of Initial
Securities or Additional Securities pursuant to the Registration Rights Agreement. 
  
 “Transfer Restricted Securities” means Definitive Securities and any other Securities that bear or are required to bear the Restricted Securities Legend. 
  

 2 

 1.2 Other Definitions 
  

			
	 Term:

	  	Defined in Section:

	 “Agent Members”
	  	2.1(c)
	 “IAI Global Security”
	  	2.1(b)
	 “Global Security”
	  	2.1(b)
	 “Regulation S Global Security”
	  	2.1(b)
	 “Rule 144A Global Security”
	  	2.1(b)

  
 2. The
Securities 
  
 2.1 Form and Dating 
  
 (a) The Initial Securities issued on the date hereof will be (i) offered and
sold by the Company pursuant to the Purchase Agreement and (ii) resold, initially only to (1) QIBs in reliance on Rule 144A and (2) Persons other than U.S. Persons (as defined in Regulation S) in reliance on Regulation S. Such Initial Securities may
thereafter be transferred to, among others, QIBs, purchasers in reliance on Regulation S and, except as set forth below, IAIs in accordance with Rule 501. Additional Securities offered after the date hereof may be offered and sold by the Company
from time to time pursuant to one or more Purchase Agreements in accordance with applicable law. 
  
 (b) Global Securities. Rule 144A Securities shall be issued initially in the form of one or more permanent global Securities in definitive, fully
registered form (collectively, the “Rule 144A Global Security”) and Regulation S Securities shall be issued initially in the form of one or more global Securities (collectively, the “Regulation S Global Security”),
in each case without interest coupons and bearing the Global Securities Legend and Restricted Securities Legend, which shall be deposited on behalf of the purchasers of the Securities represented thereby with the Securities Custodian, and registered
in the name of the Depositary or a nominee of the Depositary, duly executed by the Company and authenticated by the Trustee as provided in this Indenture. One or more global securities in definitive, fully registered form without interest coupons
and bearing the Global Securities Legend and the Restricted Securities Legend (collectively, the “IAI Global Security”) shall also be issued on the Closing Date with $0 original principal amount, deposited with the Securities
Custodian, and registered in the name of the Depositary or a nominee of the Depositary, duly executed by the Company and authenticated by the Trustee as provided in this Indenture to accommodate transfers of beneficial interests in the Securities to
IAIs subsequent to the initial distribution. The Rule 144A Global Security, the IAI Global Security and the Regulation S Global Security are each referred to herein as a “Global Security” and are collectively referred to herein as
“Global Securities”; provided, that the term “Global Security” when used in Sections 2.1(b), 2.1(c), 2.3(g)(i), 2.3(h)(i) and 2.4 shall also include any Security in global form issued in connection with a Registered
Exchange Offer. The aggregate principal amount of the Global Securities may from time to time be increased or decreased by adjustments made on the records of the Trustee and the Depositary or its nominee and on the schedules thereto as hereinafter
provided. 
  

 3 

 (c) Book-Entry Provisions. This Section 2.1(c) shall apply only to a Global Security deposited
with or on behalf of the Depositary. 
  
 The Company shall execute
and the Trustee shall, in accordance with this Section 2.1(c) and Section 2.2 and pursuant to an order of the Company signed by two Officers, authenticate and deliver initially one or more Global Securities that (i) shall be registered in the name
of the Depositary for such Global Security or Global Securities or the nominee of such Depositary and (ii) shall be delivered by the Trustee to such Depositary or pursuant to such Depositary’s instructions or held by the Trustee as Securities
Custodian. 
  
 Members of, or participants in, the Depositary
(“Agent Members”) shall have no rights under this Indenture with respect to any Global Security held on their behalf by the Depositary or by the Trustee as Securities Custodian or under such Global Security, and the Depositary may
be treated by the Company, the Trustee and any agent of the Company or the Trustee as the absolute owner of such Global Security for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee or any
agent of the Company or the Trustee from giving effect to any written certification, proxy or other authorization furnished by the Depositary or impair, as between the Depositary and its Agent Members, the operation of customary practices of such
Depositary governing the exercise of the rights of a holder of a beneficial interest in any Global Security. 
  
 The registered Holder of a Global Security may grant proxies and otherwise authorize any Person, including Agent Members and Persons that may hold
interests through Agent Members, to take any action which a Holder is entitled to take under this Indenture or the Securities. 
  
 (d) Definitive Securities. Except as provided in Section 2.3 or 2.4, owners of beneficial interests in Global Securities will not be entitled to
receive physical delivery of certificated Securities. 
  
 2.2
Authentication. The Trustee shall authenticate and make available for delivery upon a written order of the Company signed by an Officer of the Company (a) Initial Securities for original issue on the date hereof in an aggregate principal
amount of $250,000,000 (b) subject to the terms of this Indenture, Additional Securities and (c) the Exchange Securities for issue only in a Registered Exchange Offer pursuant to a Registration Rights Agreement and for a like principal amount of
Initial Securities and Additional Securities exchanged pursuant thereto. Such order shall specify the amount of the Securities to be authenticated, the date on which the original issue of Securities is to be authenticated and whether the Securities
are to be in the form set forth in Exhibit A or in the form set forth in Exhibit B. 
  
 2.3 Transfer and Exchange. (a) Transfer and Exchange of Definitive Securities. When Definitive Securities are presented to the Registrar with a request: 
  
 (i) to register the transfer of such Definitive Securities;
or 
  
 (ii) to exchange such Definitive
Securities for an equal principal amount of Definitive Securities of other authorized denominations, the Registrar shall register the transfer or make the exchange as requested if its reasonable requirements for such 

  

 4 

 
transaction are met; provided, however, that the Definitive Securities surrendered for transfer or exchange: 
  
 (1) shall be duly endorsed or accompanied by a written
instrument of transfer in form reasonably satisfactory to the Company and the Registrar, duly executed by the Holder thereof or his attorney duly authorized in writing; and 
  
 (2) in the case of Transfer Restricted Securities, are accompanied by the following additional information
and documents, as applicable: 
  
 (A) if such
Definitive Securities are being delivered to the Registrar by a Holder for registration in the name of such Holder, without transfer, a certification from such Holder to that effect (in the form set forth on the reverse side of the Security); or

  
 (B) if such Definitive Securities are being
transferred to the Company, a certification to that effect (in the form set forth on the reverse side of the Security); or 
  
 (C) if such Definitive Securities are being transferred pursuant to an exemption from registration in accordance with Rule 144 under the
Securities Act or in reliance upon another exemption from the registration requirements of the Securities Act, (x) a certification to that effect (in the form set forth on the reverse side of the Security), (y) in the case of a transfer to an IAI, a
signed letter from the transferee to the Trustee substantially in the form of Exhibit D and (z) if the Company or the Trustee so requests, such other legal opinions, certifications and other information as the Company or the Trustee shall have
reasonably requested as to compliance with the restrictions set forth in the legend set forth in Section 2.3(e)(i). 
  
 (b) Restrictions on Transfer of a Definitive Security for a Beneficial Interest in a Global Security. A Definitive Security may not be exchanged
for a beneficial interest in a Global Security except upon satisfaction of the requirements set forth below. Upon receipt by the Trustee of a Definitive Security, duly endorsed or accompanied by a written instrument of transfer in form reasonably
satisfactory to the Company and the Registrar, together with: 
  
 (i) certification (in the form set forth on the reverse side of the Security) that such Definitive Security is being transferred (1) to a QIB in accordance with Rule 144A, (2) to an IAI that has furnished to the
Trustee a signed letter substantially in the form of Exhibit D, (3) outside the United States in an offshore transaction within the meaning of Regulation S and in compliance with Rule 904 under the Securities Act or (4) pursuant to another available
exemption from registration provided under the Securities Act; 
  
 (ii) in the case of a transfer pursuant to clause (2), (3) or (4) of Section 2.3(b)(i), such other legal opinions, certifications and other information as the Company 

  

 5 

 
or the Trustee shall have reasonably requested to confirm that such transfer is being made pursuant to an exemption from the registration requirements of the
Securities Act; and 
  
 (iii) written
instructions directing the Trustee to make, or to direct the Securities Custodian to make, an adjustment on its books and records with respect to such Global Security to reflect an increase in the aggregate principal amount of the Securities
represented by the Global Security, such instructions to contain information regarding the Depositary account to be credited with such increase, 
  
 then the Trustee shall cancel such Definitive Security and cause, or direct the Securities Custodian to cause, in accordance with the standing instructions and procedures
existing between the Depositary and the Securities Custodian, the aggregate principal amount of Securities represented by the Global Security to be increased by the aggregate principal amount of the Definitive Security to be exchanged and shall
credit or cause to be credited to the account of the Person specified in such instructions a beneficial interest in the Global Security equal to the principal amount of the Definitive Security so canceled. If no Global Securities are then
outstanding and the Global Security has not been previously exchanged for certificated securities pursuant to Section 2.4, the Company shall issue and the Trustee shall authenticate, upon written order of the Company in the form of an Officers’
Certificate, a new Global Security in the appropriate principal amount. 
  
 (c) Transfer and Exchange of Global Securities. (i) The transfer and exchange of Global Securities or beneficial interests therein shall be effected through the Depositary in accordance with this Indenture (including applicable
restrictions on transfer set forth herein, if any) and the procedures of the Depositary therefor. A transferor of a beneficial interest in a Global Security shall deliver a written order given in accordance with the Depositary’s procedures
containing information regarding the participant account of the Depositary to be credited with a beneficial interest in such Global Security or another Global Security; and such account shall be credited in accordance with such order with a
beneficial interest in the applicable Global Security, and the account of the Person making the transfer shall be debited by an amount equal to the beneficial interest in the Global Security being transferred. Transfers by an owner of a beneficial
interest in the Rule 144A Global Security or the IAI Global Security to a transferee who takes delivery of such interest through the Regulation S Global Security prior to the date that is two years after the later of the date of original issue and
the last date on which the Company or any affiliate of the Company was the owner of such Securities (or any predecessor thereto) (and whether before or after the expiration of the Restricted Period) shall be made only upon receipt by the Trustee of
(A) a certification in the form provided on the reverse of the Securities from the transferor to the effect that such transfer is being made in accordance with Regulation S and (B) such other legal opinions, certifications and other information as
the Company or the Trustee shall have reasonably requested to confirm that such transfer is being made pursuant to an exemption from the registration requirements of the Securities Act. In the case of a transfer of a beneficial interest in either
the Regulation S Global Security or the Rule 144A Global Security for an interest in the IAI Global Security, the transferee must furnish a signed letter substantially in the form of Exhibit D to the Trustee and such other legal opinions,
certifications and other information as the Company or the Trustee shall have reasonably requested to confirm that such transfer is being made pursuant to an exemption from the registration requirements of the Securities Act. 
  

 6 

 (ii) If the proposed transfer is a transfer of a beneficial interest in one Global Security to a
beneficial interest in another Global Security, the Registrar shall reflect on its books and records the date and an increase in the principal amount of the Global Security to which such interest is being transferred in an amount equal to the
principal amount of the interest to be so transferred, and the Registrar shall reflect on its books and records the date and a corresponding decrease in the principal amount of Global Security from which such interest is being transferred.

  
 (iii) Notwithstanding any other provisions of this Appendix
(other than the provisions set forth in Section 2.4), a Global Security may not be transferred as a whole except by the Depositary to a nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the
Depositary or by the Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary. 
  
 (iv) In the event that a Global Security is exchanged for Definitive Securities pursuant to Section 2.4 prior to the consummation of a Registered Exchange
Offer or the effectiveness of a Shelf Registration Statement with respect to such Securities, such Securities may be exchanged only in accordance with such procedures as are substantially consistent with the provisions of this Section 2.3 (including
the certification requirements set forth on the reverse of the Securities intended to ensure that such transfers comply with Rule 144A, Regulation S or such other applicable exemption from registration under the Securities Act, as the case may be)
and such other procedures as may from time to time be adopted by the Company. 
  
 (d) Restrictions on Transfer of Regulation S Global Security. (i) During the Restricted Period, beneficial ownership interests in the Regulation S Global Security may only be sold, pledged or transferred in
accordance with the Applicable Procedures and only (1) to the Company, (2) so long as such security is eligible for resale pursuant to Rule 144A, to a person whom the selling holder reasonably believes is a QIB that purchases for its own account or
for the account of a QIB to whom notice is given that the resale, pledge or transfer is being made in reliance on Rule 144A, (3) in an offshore transaction in accordance with Regulation S, (4) pursuant to an exemption from registration under the
Securities Act provided by Rule 144 (if applicable) under the Securities Act, (5) to an IAI purchasing for its own account, or for the account of such an IAI, in a minimum principal amount of Securities of $250,000 or (6) pursuant to an effective
registration statement under the Securities Act, in each case in accordance with any applicable securities laws of any state of the United States. Prior to the expiration of the Restricted Period, transfers by an owner of a beneficial interest in
the Regulation S Global Security to a transferee who takes delivery of such interest through the Rule 144A Global Security or the IAI Global Security shall be made only in accordance with Applicable Procedures and upon receipt by the Trustee of a
written certification from the transferor of the beneficial interest in the form provided on the reverse of the Security to the effect that such transfer is being made to (1) a QIB within the meaning of Rule 144A in a transaction meeting the
requirements of Rule 144A or (2) an IAI purchasing for its own account, or for the account of such an IAI, in a minimum principal amount of the Securities of $250,000. Such written certification shall no longer be required after the expiration of
the Restricted Period. In the case of a transfer of a beneficial interest in the Regulation S Global Security for an interest in the IAI Global Security, the transferee must furnish a signed letter substantially in the form of Exhibit D to the
Trustee and such other legal opinions, certifications and other information as the Company or the Trustee 

  

 7 

 
shall have reasonably requested to confirm that such transfer is being made pursuant to an exemption from the registration requirements of the Securities
Act. 
  
 (ii) Upon the expiration of the Restricted Period,
beneficial ownership interests in the Regulation S Global Security shall be transferable in accordance with applicable law and the other terms of this Indenture. 
  
 (e) Legend. 
  
 (i) Except as permitted by the following paragraphs (ii), (iii) or (iv), each Security certificate evidencing the Global Securities and the Definitive
Securities (and all Securities issued in exchange therefor or in substitution thereof) shall bear a legend in substantially the following form (each defined term in the legend being defined as such for purposes of the legend only): 
  
 “THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED,
ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. 
  
 THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF AGREES ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS
PURCHASED SECURITIES, TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION DATE”) THAT IS [IN THE CASE OF RULE 144A SECURITIES: TWO YEARS] [ IN THE CASE OF REGULATION S SECURITIES: 40
DAYS] AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE LAST DATE ON WHICH THE COMPANY OR ANY AFFILIATE OF THE COMPANY WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY), ONLY (A) TO THE COMPANY, (B) PURSUANT TO A
REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT, TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED
INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D)
PURSUANT TO OFFERS AND SALES THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT, (E) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) UNDER THE
SECURITIES ACT THAT IS AN INSTITUTIONAL ACCREDITED INVESTOR 

  

 8 

 
ACQUIRING THE SECURITY FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF SUCH AN INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF THE
SECURITIES OF $250,000, FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO OR FOR OFFER OR SALE IN CONNECTION WITH ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, OR (F) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF
THE SECURITIES ACT, SUBJECT TO THE COMPANY’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES (D), (E) OR (F) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION
SATISFACTORY TO EACH OF THEM. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE. 
  
 THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF, REPRESENTS AND WARRANTS THAT EITHER (A) NO PORTION OF THE ASSETS USED BY SUCH
HOLDER TO ACQUIRE AND HOLD THIS SECURITY CONSTITUTES THE ASSETS OF ANY EMPLOYEE BENEFIT PLAN SUBJECT TO TITLE I OF THE U.S. EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), ANY PLAN, INDIVIDUAL RETIREMENT ACCOUNT OR
OTHER ARRANGEMENT SUBJECT TO SECTION 4975 OF THE U.S. INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR PROVISIONS UNDER ANY FEDERAL, STATE, LOCAL, NON-U.S. OR OTHER LAWS OR REGULATIONS THAT ARE SIMILAR TO SUCH PROVISIONS OF ERISA
OR THE CODE (COLLECTIVELY, “SIMILAR LAWS”) OR ANY ENTITY WHOSE UNDERLYING ASSETS ARE CONSIDERED TO INCLUDE “PLAN ASSETS” OF ANY SUCH PLAN, ACCOUNT OR ARRANGEMENT OR (B) THE ACQUISITION OR HOLDING OF THIS SECURITY BY YOU WILL NOT
CONSTITUTE A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE OR A VIOLATION UNDER ANY APPLICABLE SIMILAR LAWS.” 
  
 Each Definitive Security shall bear the following additional legend: 
  
 “IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE REGISTRAR AND TRANSFER AGENT SUCH
CERTIFICATES AND OTHER INFORMATION AS SUCH TRANSFER AGENT MAY REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS.” 
  
 (ii) Upon any sale or transfer of a Transfer Restricted Security that is a Definitive Security, the Registrar shall permit the Holder thereof to exchange
such Transfer Restricted Security for a Definitive Security that does not bear the legends set forth above and rescind any restriction on the transfer of such Transfer Restricted Security if (A) the Holder certifies in writing to the Registrar that
its request for such exchange was made in reliance on Rule 144 (such certification to be in the form set forth on the reverse of the Security), together with such other legal opinions, certifications and other information as the Company or the

  

 9 

 
Trustee shall have reasonably requested to confirm that such transfer is being made in compliance with the Securities Act, or (B) there is delivered to the
Registrar an Opinion of Counsel reasonably satisfactory to the Company and the Trustee to the effect that neither the Restricted Securities Legend nor the related restrictions on transfer are required in order to maintain compliance with the
provisions of the Securities Act. 
  
 (iii) After a transfer of
any Initial or Additional Securities during the period of the effectiveness of a Shelf Registration Statement or other registration statement with respect to such Initial or Additional Securities, as the case may be, all requirements pertaining to
the Restricted Securities Legend on such Initial or Additional Securities shall cease to apply and the requirements that any such Initial or Additional Securities be issued in global form shall continue to apply. 
  
 (iv) Upon the consummation of a Registered Exchange Offer with respect to the
Initial or Additional Securities pursuant to which Holders of such Initial or Additional Securities are offered Exchange Securities in exchange for their Initial or Additional Securities, all requirements pertaining to Initial or Additional
Securities that Initial or Additional Securities be issued in global form shall continue to apply, and Exchange Securities in global form without the Restricted Securities Legend shall be available to Holders that exchange such Securities in such
Registered Exchange Offer. 
  
 (v) Upon a sale or transfer after
the expiration of the Restricted Period of any Transfer Restricted Security acquired pursuant to Regulation S, all requirements that such Security bear the Restricted Securities Legend shall cease to apply and the requirements requiring any such
Security be issued in global form shall continue to apply. 
  
 (vi) Any Additional Securities sold in a registered offering shall not be required to bear the Restricted Securities Legend. 
  
 (f) Cancellation or Adjustment of Global Security. At such time as all beneficial interests in a Global Security have either been exchanged for
Definitive Securities, transferred, redeemed, repurchased or canceled, such Global Security shall be returned by the Depositary to the Trustee for cancellation or retained and canceled by the Trustee, or at the direction of the Trustee, the
Registrar or Paying Agent. At any time prior to such cancellation, if any beneficial interest in a Global Security is exchanged for Definitive Securities, transferred in exchange for an interest in another Global Security, redeemed, repurchased or
canceled, the principal amount of Securities represented by such Global Security shall be reduced and an adjustment shall be made on the books and records of the Trustee (if it is then the Securities Custodian for such Global Security) with respect
to such Global Security, by the Trustee or the Securities Custodian, to reflect such reduction. 
  
 (g) Obligations with Respect to Transfers and Exchanges of Securities. 
  
 (i) To permit registrations of transfers and exchanges, the Company shall execute and the Trustee shall authenticate,
Definitive Securities and Global Securities at the Registrar’s request. 
  

 10 

 (ii) No service charge shall be made for any registration of transfer or exchange, but the Company and
may require payment of a sum sufficient to cover any transfer tax, assessments, or similar governmental charge payable in connection therewith (other than any such transfer taxes, assessments or similar governmental charge payable upon exchanges
pursuant to Sections 3.06, 4.06, 4.08 and 9.05 of this Indenture). 
  
 (iii) Prior to the due presentation for registration of transfer of any Security, the Company, the Subsidiary Guarantors, the Trustee, the Paying Agent or the Registrar may deem and treat the person in whose name a Security is registered as
the absolute owner of such Security for the purpose of receiving payment of principal of and (subject to paragraph 2 of the Securities) interest on such Security and for all other purposes whatsoever, whether or not such Security is overdue, and
none of the Company, any Subsidiary Guarantor, the Trustee, the Paying Agent or the Registrar shall be affected by notice to the contrary. 
  
 (iv) All Securities issued upon any transfer or exchange pursuant to the terms of this Indenture shall evidence the same debt and shall be entitled to the
same benefits under this Indenture as the Securities surrendered upon such transfer or exchange. 
  
 (h) No Obligation of the Trustee. 
  
 (i) The Trustee shall have no responsibility or obligation to any beneficial owner of a Global Security, a member of, or a participant in the Depositary
or any other Person with respect to the accuracy of the records of the Depositary or its nominee or of any participant or member thereof, with respect to any ownership interest in the Securities or with respect to the delivery to any participant,
member, beneficial owner or other Person (other than the Depositary) of any notice (including any notice of redemption or repurchase) or the payment of any amount, under or with respect to such Securities. All notices and communications to be given
to the Holders and all payments to be made to Holders under the Securities shall be given or made only to the registered Holders (which shall be the Depositary or its nominee in the case of a Global Security). The rights of beneficial owners in any
Global Security shall be exercised only through the Depositary subject to the applicable rules and procedures of the Depositary. The Trustee may rely and shall be fully protected in relying upon information furnished by the Depositary with respect
to its members, participants and any beneficial owners. 
  
 (ii)
The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Security
(including any transfers between or among Depositary participants, members or beneficial owners in any Global Security) other than to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do
so if and when expressly required by, the terms of this Indenture, and to examine the same to determine substantial compliance as to form with the express requirements hereof. 
  
 2.4 Definitive Securities 
  
 (a) A Global Security deposited with the Depositary or with the Trustee as Securities Custodian pursuant to Section 2.1 or issued in connection with a
Registered Exchange 

  

 11 

 
Offer shall be transferred to the beneficial owners thereof in the form of Definitive Securities in an aggregate principal amount equal to the principal
amount of such Global Security, in exchange for such Global Security, only if such transfer complies with Section 2.3 and (i) the Depositary notifies the Company that it is unwilling or unable to continue as a Depositary for such Global Security or
if at any time the Depositary ceases to be a “clearing agency” registered under the Exchange Act, and in either case a successor depositary is not appointed by the Company within 90 days of such notice or after the Company becomes aware of
such cessation, or (ii) an Event of Default has occurred and is continuing or (iii) the Company, in its sole discretion, notifies the Trustee in writing that it elects to cause the issuance of certificated Securities under this Indenture.

  
 (b) Any Global Security that is transferable to the beneficial
owners thereof pursuant to this Section 2.4 shall be surrendered by the Depositary to the Trustee, to be so transferred, in whole or from time to time in part, without charge, and the Trustee shall authenticate and make available for delivery, upon
such transfer of each portion of such Global Security, an equal aggregate principal amount of Definitive Securities of authorized denominations. Any portion of a Global Security transferred pursuant to this Section shall be executed, authenticated
and delivered only in denominations of $2,000 and any integral multiple of $1,000 in excess thereof and registered in such names as the Depositary shall direct. Any certificated Transfer Restricted Security in the form of a Definitive Security
delivered in exchange for an interest in the Global Security shall, except as otherwise provided by Section 2.3(e), bear the Restricted Securities Legend. 
  
 (c) In the event of the occurrence of any of the events specified in Section 2.4(a)(i), (ii) or (iii), the Company will promptly make available to the
Trustee a reasonable supply of Definitive Securities in fully registered form without interest coupons. 
  

 12 

  
 EXHIBIT A 
  
 [FORM OF FACE OF INITIAL SECURITY AND 
 ANY ADDITIONAL SECURITY THAT IS A 
 TRANSFER
RESTRICTED SECURITY] 
  
 [Global Securities Legend] 
  
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, TO THE COMPANY OR THE COMPANY’S AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
  
 TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO DTC, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH
SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 
  
 [Restricted Securities Legend] 
  
 THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE
DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. 
  
 THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF AGREES ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED
SECURITIES, TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION DATE”) THAT IS [IN THE CASE OF RULE 144A SECURITIES: TWO YEARS] [ IN THE CASE OF REGULATION S SECURITIES: 40 DAYS] AFTER
THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE LAST DATE ON WHICH THE COMPANY OR ANY AFFILIATE OF THE COMPANY WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY), ONLY (A) TO THE COMPANY, (B) PURSUANT TO A REGISTRATION
STATEMENT THAT HAS BEEN 

  

 
DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT, TO A
PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE
TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT, (E) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE
MEANING OF RULE 501(a)(1), (2), (3) OR (7) UNDER THE SECURITIES ACT THAT IS AN INSTITUTIONAL ACCREDITED INVESTOR ACQUIRING THE SECURITY FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF SUCH AN INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM
PRINCIPAL AMOUNT OF THE SECURITIES OF $250,000, FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO OR FOR OFFER OR SALE IN CONNECTION WITH ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, OR (F) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE
REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE COMPANY’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES (D), (E) OR (F) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION
AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE. 
  

THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF, REPRESENTS AND WARRANTS THAT EITHER (A) NO PORTION OF THE ASSETS USED BY SUCH HOLDER TO ACQUIRE
AND HOLD THIS SECURITY CONSTITUTES THE ASSETS OF ANY EMPLOYEE BENEFIT PLAN SUBJECT TO TITLE I OF THE U.S. EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), ANY PLAN, INDIVIDUAL RETIREMENT ACCOUNT OR OTHER ARRANGEMENT
SUBJECT TO SECTION 4975 OF THE U.S. INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR PROVISIONS UNDER ANY FEDERAL, STATE, LOCAL, NON-U.S. OR OTHER LAWS OR REGULATIONS THAT ARE SIMILAR TO SUCH PROVISIONS OF ERISA OR THE CODE
(COLLECTIVELY, “SIMILAR LAWS”) OR ANY ENTITY WHOSE UNDERLYING ASSETS ARE CONSIDERED TO INCLUDE “PLAN ASSETS” OF ANY SUCH PLAN, ACCOUNT OR ARRANGEMENT OR (B) THE ACQUISITION OR HOLDING OF THIS SECURITY BY YOU WILL NOT CONSTITUTE A
NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE OR A VIOLATION UNDER ANY APPLICABLE SIMILAR LAWS. 
  
 Each Definitive Security shall bear the following additional legend: 
  
 IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE REGISTRAR AND TRANSFER AGENT SUCH CERTIFICATES AND OTHER

  

 2 

 
INFORMATION AS SUCH TRANSFER AGENT MAY REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS. 
  

				
	No. [_]	  	$	                    

  
 6.00% Senior
Subordinated Note due 2012 
  
 CUSIP
No.[    ] 
 ISIN No. [    ] 
  
 CHURCH & DWIGHT CO., INC., a Delaware corporation (the “Company”), promises to pay to Cede & Co., or
registered assigns, the principal sum listed on the Schedule of Increases or Decreases in Global Security attached hereto on December 15, 2012. 
  
 Interest Payment Dates: June 15 and December 15. 
  
 Record Dates: June 1 and December 1. 
  
 Additional provisions of this Security are set forth on the other side of this Security. 
  
 IN WITNESS WHEREOF, the parties have caused this instrument to be duly executed. 
  

			
	 CHURCH & DWIGHT CO., INC.

		
	By:	 	 
	 Name:
	 	 
	 Title:
	 	 

  
 Dated: 
  
 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 
  

			
	 THE BANK OF NEW YORK,
as Trustee, certifies that this is one of the Securities referred to in the
Indenture.

		
	By:	 	 
	 	 	 Authorized Signatory

  

 3 

  
 [FORM OF REVERSE SIDE OF
INITIAL SECURITY AND 
 ANY ADDITIONAL SECURITY THAT IS A 
 TRANSFER RESTRICTED SECURITY] 
  
 6.00% Senior Subordinated Note due 2012 
  
 1.
Interest. 
  
 (a) Church & Dwight Co., Inc. a Delaware
corporation (such company, and its successors and assigns under the Indenture hereinafter referred to, being herein called the “Company”), promises to pay interest on the principal amount of this Security at the rate per annum shown
above. The Company and shall pay interest semiannually on June 15 and December 15 of each year. Interest on the Securities shall accrue from the most recent date to which interest has been paid or duly provided for, or if no interest has been paid
or duly provided for, from December 22, 2004 until the principal hereof is due. Interest shall be computed on the basis of a 360-day year of twelve 30-day months. The Company shall pay interest on overdue principal at the rate borne by the
Securities plus 1% per annum, and it shall pay interest on overdue installments of interest at the same rate to the extent lawful. All references in this Security to interest rate shall include any additional interest. 
  
 (b) Additional Interest. The Holder of this Security is entitled to
the benefits of a Registration Rights Agreement, dated December 22, 2004, among the Company and the Initial Purchasers named therein (as amended, supplemented or otherwise modified from time to time, the “Registration Rights
Agreement”). Capitalized terms used in this paragraph (b) but not defined herein have the meanings assigned to them in the Registration Rights Agreement. If the Exchange Offer is not completed or the Shelf Registration Statement, if
required by the Registration Rights Agreement, is not declared effective on or prior to 210 days from December 22, 2004 (the “Target Registration Date”), the annual interest rate borne by this Security will be increased by (i) 0.25%
per annum for the first 90-day period immediately following the Target Registration Date and (ii) an additional 0.25% per annum for each subsequent 90-day period, in each case until the Exchange Offer is completed or the Shelf Registration
Statement, if required by the Registration Rights Agreement, is declared effective by the SEC or the Securities become freely tradable under the Securities Act, up to a maximum of 1.00% per annum of additional interest. Following the cure of all
registration defaults described in the preceding sentence, the annual interest rate borne by the Securities shall return to the rate before the registration default. For purposes of the foregoing, “Transfer Restricted Securities”
means (i) each Initial Security or Additional Security until the date on which such Initial Security or Additional Security has been exchanged for a freely transferable Exchange Security in the Registered Exchange Offer, (ii) each Initial Security
or Additional Security until the date on which such Initial Security or Additional Security has been effectively registered under the Securities Act and disposed of in accordance with a Shelf Registration Statement or (iii) each Initial Security or
Additional Security until the date on which such Initial Security or Additional Security is distributed to the public pursuant to Rule 144 under the Securities Act or is saleable pursuant to Rule 144(k) under the Securities Act. 
  

 4 

 2. Method of Payment. 
  
 The Company shall pay interest on the Securities (except defaulted interest) to the Persons who are registered Holders at
the close of business on the June 1 or December 1 next preceding the interest payment date even if Securities are canceled after the record date and on or before the interest payment date. Holders must surrender Securities to a Paying Agent to
collect principal payments. The Company shall pay principal, premium, if any, and interest in money of the United States of America that at the time of payment is legal tender for payment of public and private debts. Payments in respect of the
Securities represented by a Global Security (including principal, premium, if any, and interest) shall be made by wire transfer of immediately available funds to the accounts specified by The Depository Trust Company or any successor depositary. The
Company will make all payments in respect of a certificated Security (including principal, premium, if any, and interest), at the office of the Paying Agent, except that, at the option of the Company, payment of interest may be made by mailing a
check to the registered address of each Holder thereof; provided, however, that payments on the Securities may also be made, in the case of a Holder of at least $1,000,000 aggregate principal amount of Securities, by wire transfer to a
U.S. dollar account maintained by the payee with a bank in the United States if such Holder elects payment by wire transfer by giving written notice to the Trustee or the Paying Agent to such effect designating such account no later than 30 days
immediately preceding the relevant due date for payment (or such other date as the Trustee may accept in its discretion). 
  
 3. Paying Agent and Registrar. 
  
 Initially, The Bank of New York, a New York banking corporation (the “Trustee”), will act as Paying Agent and Registrar. The Company may
appoint and change any Paying Agent or Registrar without notice to the Holders. The Company or any of the Company’s Domestic Subsidiaries that are Wholly Owned Subsidiaries may act as Paying Agent or Registrar. 
  
 4. Indenture. 
  
 The Company issued the Securities under an Indenture dated as of December 22,
2004 (as amended, supplemented or otherwise modified from time to time, the “Indenture”), between the Company and the Trustee. The terms of the Securities include those stated in the Indenture and those made part of the Indenture by
reference to the Trust Indenture Act of 1939 (15 U.S.C. §§ 77aaa-77bbbb) as in effect on the date of the Indenture (the “TIA”). Terms defined in the Indenture and not defined herein have the meanings ascribed
thereto in the Indenture. The Securities are subject to all terms and provisions of the Indenture, and Holders (as defined in the Indenture) are referred to the Indenture and the TIA for a statement of such terms and provisions. 
  
 The Securities are senior subordinated unsecured obligations of the Company.
This Security is one of the [Insert if appropriate: Initial Securities] [Insert if appropriate: Additional Securities] referred to in the Indenture. The Securities include the Initial Securities, the Additional Securities and any
Exchange Securities issued in exchange for the Initial Securities or Additional Securities pursuant to the Indenture. The Initial Securities, the Additional Securities and any Exchange Securities are treated as a single class of securities under the
Indenture. The Indenture imposes certain limitations on the ability of the Company and its Restricted Subsidiaries to, among other things, make certain Investments and other Restricted 

  

 5 

 
Payments, pay dividends and other distributions, incur Indebtedness, enter into consensual restrictions upon the payment of certain dividends and
distributions by such Restricted Subsidiaries, issue or sell shares of capital stock of such Restricted Subsidiaries, enter into or permit certain transactions with Affiliates, create or incur Liens and make Asset Dispositions. The Indenture also
imposes limitations on the ability of the Company and each Subsidiary Guarantor to consolidate or merge with or into any other Person or convey, transfer or lease all or substantially all its property. 
  
 To guarantee the due and punctual payment of the principal and interest on
the Securities and all other amounts payable by the Company under the Indenture and the Securities when and as the same shall be due and payable, whether at maturity, by acceleration or otherwise, according to the terms of the Securities and the
Indenture, the Subsidiary Guarantors have jointly and severally unconditionally guaranteed the Guaranteed Obligations on a senior subordinated basis pursuant to the terms of the Indenture. 
  
 5. Optional Redemption. 
  
 (a) The Securities may be redeemed, in whole or in part, at any time prior to
December 15, 2008 at the option of the Company upon not less than 30 nor more than 60 days’ prior notice mailed by first-class mail to each Holder of Securities at its registered address, at a redemption price equal to 100% of the principal
amount of the Securities redeemed plus the Applicable Premium as of, and accrued and unpaid interest to, the applicable redemption date (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant
interest payment date). 
  
 For purposes of the preceding
paragraph, the following terms will have the following definitions: 
  
 “Applicable Premium” means, with respect to any Security on any applicable redemption date, the greater of: 
  

	 	(1)	1.0% of the then outstanding principal amount of the Security; and 

  

	 	(2)	the excess of: 

  

	 	(a)	the present value at such redemption date of (i) the redemption price of such Security at December 15, 2008 (such redemption price being set forth in the table appearing in
paragraph 5(b) below) plus (ii) all required interest payments due on the Security through December 15, 2008 (excluding accrued but unpaid interest), computed using a discount rate equal to the Treasury Rate plus 75 basis points over

  

	 	(b)	the then outstanding principal amount of the Security. 

  
 “Treasury Rate” means the yield to maturity at the time of computation of United States Treasury securities with a constant maturity (as
compiled and published in the most recent Federal Reserve Statistical Release H.15 (519) which has become publicly available at least two 

  

 6 

 
business days prior to the redemption date (or, if such Statistical Release is no longer published, any publicly available source or similar market data))
most nearly equal to the period from the redemption date to December 15, 2008; provided, however, that if the period from the redemption date to December 15, 2008 is not equal to the constant maturity of a United States Treasury security for
which a weekly average yield is given, the Treasury Rate shall be obtained by linear interpolation (calculated to the nearest one-twelfth of a year) from the weekly average yields of United States Treasury securities for which such yields are given,
except that if the period from the redemption date to December 15, 2008 is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year shall be used. 
  
 (b) In addition, on and after December 15, 2008, the Securities shall be
redeemable at the option of the Company, in whole or in part, on not less than 30 nor more than 60 days’ prior notice, at the following redemption prices (expressed as percentages of principal amount), plus accrued and unpaid interest to the
redemption date (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date), if redeemed during the 12-month period commencing on December 15 of the years set forth below:

  

				
	 Year

	  	Redemption
Price

	 
	 2008
	  	103.000	%
	 2009
	  	101.500	%
	 2010 and thereafter
	  	100.000	%

  
 (c) In addition, prior
to December 15, 2007, the Company may redeem, on one or more occasions, up to a maximum of 35% of the original aggregate principal amount of the Securities (calculated giving effect to any issuance of Additional Securities) with the Net Cash
Proceeds of one or more Equity Offerings by the Company, at a redemption price equal to 106.0% of the principal amount thereof, plus accrued and unpaid interest thereon to the redemption date (subject to the right of Holders of record on the
relevant record date to receive interest due on the relevant interest payment date); provided, however, that after giving effect to any such redemption, (i) at least 65% of the original aggregate principal amount of the Securities
(calculated giving effect to any issuance of Additional Securities) remains outstanding, and (ii) any such redemption shall be made within 90 days of such Equity Offering upon not less than 30 nor more than 60 days’ notice mailed to each Holder
of Securities being redeemed and otherwise in accordance with the procedures set forth in the Indenture. 
  
 6. Sinking Fund. 
  
 The Securities are not subject to any sinking fund. 
  
 7. Notice of Redemption. 
  
 Notice of an optional redemption pursuant to paragraph 5 above will be mailed by first-class mail at least 30 days but not more than 60 days before the
redemption date to each 

  

 7 

 
Holder of Securities to be redeemed at his or her registered address. Securities in denominations larger than $2,000 may be redeemed in part but only in
integral multiples of $1,000; provided, however, that no such partial redemption shall reduce the portion of the principal amount of a Security not redeemed to less than $2,000. On and after the redemption date, interest shall cease to
accrue on Securities or portions thereof called for redemption so long as the Company has deposited with the Paying Agent funds sufficient to pay the principal of, plus accrued and unpaid interest on, the Securities to be redeemed, whether or not
such Securities are presented for payment, unless the Paying Agent is prohibited from making such payment pursuant to the terms of the Indenture. 
  
 8. Repurchase of Securities at the Option of Holders upon Change of Control and Asset Dispositions. 
  
 Upon a Change of Control, any Holder of Securities will have the right,
subject to certain conditions specified in the Indenture, to cause the Company to repurchase all or any part of the Securities of such Holder at a purchase price equal to 101% of the principal amount of the Securities to be repurchased plus accrued
and unpaid interest to the date of repurchase (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date) as provided in, and subject to the terms of, the Indenture.

  
 In accordance with Section 4.06 of the Indenture, the Company
will be required to offer to purchase Securities upon the occurrence of certain events. 
  
 9. Subordination. The Securities and Subsidiary Guarantees are subordinated to Senior Indebtedness, as defined and set forth more fully in the Indenture. To the extent provided in the Indenture, Senior
Indebtedness must be paid before the Securities and Subsidiary Guarantees may be paid. The Company and each Subsidiary Guarantor agrees, and each Holder by accepting a Security agrees, to the subordination provisions contained in the Indenture,
authorizes the Trustee to give it effect and appoints the Trustee as attorney-in-fact for such purpose. 
  
 10. Denominations; Transfer; Exchange. The Securities are in registered form without coupons in denominations of $2,000 and integral multiples of
$1,000 in excess thereof. A Holder may transfer or exchange Securities in accordance with the Indenture. Upon any transfer or exchange, the Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements or
transfer documents and to pay any taxes required by law or permitted by the Indenture. The Registrar need not register the transfer of or exchange any Securities selected for redemption (except, in the case of a Security to be redeemed in part, the
portion of the Security not to be redeemed) or to transfer or exchange any Securities for a period of 15 days prior to a selection of Securities to be redeemed. 
  

11. Persons Deemed Owners. 
  
 The registered Holder of this Security may be treated as the owner of it for all purposes. 
  

 8 

 12. Unclaimed Money. 
  
 If money for the payment of principal or interest remains unclaimed for two years, the Trustee and the Paying Agent shall
pay the money back to the Company upon their written request unless an abandoned property law designates another Person. After any such payment, Holders entitled to the money must look to the Company for payment as general creditors and the Trustee
and the Paying Agent shall have no further liability with respect to such monies. 
  
 13. Discharge and Defeasance. 
  
 Subject to certain conditions set forth in the Indenture, the Company at any time may terminate some of or all of their obligations under the Securities and the Indenture if the Company deposits with the Trustee money or U.S. Government
Obligations or a combination thereof for the payment of principal of, and interest on, the Securities to redemption or maturity, as the case may be. 
  
 14. Amendment, Waiver. 
  
 Subject to certain exceptions set forth in the Indenture, (i) the Indenture or the Securities may be amended without prior notice to any Holder but with
the written consent of the Holders of at least a majority in aggregate principal amount of the Securities then outstanding and (ii) any existing default (other than an existing default in respect of the payment of principal or interest on the
Securities or in respect of a provision that cannot be amended without the written consent of each Holder affected) may be waived with the written consent of the Holders of at least a majority in principal amount of the Securities then outstanding.
Subject to certain conditions set forth in the Indenture, without the consent of any Holder, the Company, the Subsidiary Guarantors and the Trustee may amend the Indenture or the Securities (i) to cure any ambiguity, omission, defect or
inconsistency; (ii) to comply with Article 5 of the Indenture; (iii) to provide for uncertificated Securities in addition to or in place of certificated Securities; (iv) to make any change in Article 10 or Article 12 of the Indenture that would
limit or terminate the benefits available to any holder of Senior Indebtedness of the Company or a Subsidiary Guarantor (or any Representative thereof) under Article 10 or Article 12, respectively; (v) to add additional Guarantees with respect to
the Securities; (vi) to secure the Securities; (vii) to add additional covenants or to surrender rights and powers conferred on the Company; (viii) to comply with the requirements of the SEC in order to effect or maintain the qualification of the
Indenture under the TIA; (ix) to make any change that does not adversely affect the rights of any Holder; (x) to provide for the issuance of the Exchange Securities or Additional Securities; or (xi) to release a Subsidiary Guarantor from its
obligations under its Subsidiary Guarantee or the Indenture in accordance with the applicable provisions of the Indenture. 
  
 15. Defaults and Remedies. If an Event of Default occurs (other than an Event of Default relating to certain events of bankruptcy, insolvency or
reorganization of the Company) and is continuing, the Trustee or the Holders of at least 25% in principal amount of the Securities then outstanding may declare the principal of and accrued but unpaid interest on all the Securities to be due and
payable. If an Event of Default relating to certain events of bankruptcy, insolvency or reorganization of the Company occurs, the principal of and interest on all the Securities shall become immediately due and payable without any declaration or
other act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority 

  

 9 

 
in principal amount of the outstanding Securities may rescind any such acceleration with respect to the Securities and its consequences. 
  
 If an Event of Default occurs and is continuing, the Trustee shall be under
no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee reasonable indemnity or security against any loss, liability or expense and
certain other conditions are complied with. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to the Indenture or the Securities unless (i) such Holder
has previously given the Trustee notice that an Event of Default is continuing, (ii) Holders of at least 25% in principal amount of the outstanding Securities have requested the Trustee in writing to pursue the remedy, (iii) such Holders have
offered the Trustee security or indemnity reasonably satisfactory to it against any loss, liability or expense, (iv) the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security or
indemnity and (v) the Holders of a majority in principal amount of the outstanding Securities have not given the Trustee a direction inconsistent with such request within such 60-day period. Subject to certain restrictions, the Holders of a majority
in principal amount of the outstanding Securities are given the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The
Trustee, however, may refuse to follow any direction that conflicts with law or the Indenture or that the Trustee determines is unduly prejudicial to the rights of any other Holder or that would involve the Trustee in personal liability. Prior to
taking any action under the Indenture, the Trustee shall be entitled to security or indemnity reasonably satisfactory to it against the costs, expenses and liabilities that may be incurred therein or thereby. 
  
 16. Trustee Dealings with the Company. 
  
 Subject to certain limitations imposed by the TIA, the Trustee under the
Indenture, in its individual or any other capacity, may become the owner or pledgee of Securities and may otherwise deal with and collect obligations owed to it by the Company or its Affiliates and may otherwise deal with the Company or its
Affiliates with the same rights it would have if it were not Trustee. 
  
 17. No Recourse Against Others. 
  
 A director,
officer, employee or stockholder, as such, of the Company or any Subsidiary Guarantor shall not have any liability for any obligations of the Company under the Securities or the Indenture or for any claim based on, in respect of or by reason of such
obligations or their creation. By accepting a Security, each Holder waives and releases all such liability, to the extent permitted by applicable law. The waiver and release are part of the consideration for the issue of the Securities. 

 
 18. Authentication. 
  
 This Security shall not be valid until an authorized signatory of the Trustee
(or an authenticating agent) manually signs the certificate of authentication on the other side of this Security. 
  

 10 

 19. Abbreviations. 
  
 Customary abbreviations may be used in the name of a Holder or an assignee, such as TEN COM (=tenants in common), TEN ENT
(=tenants by the entireties), JT TEN (=joint tenants with rights of survivorship and not as tenants in common), CUST (=custodian), and U/G/M/A (=Uniform Gift to Minors Act). 
  
 20. Governing Law. 
  
 THIS SECURITY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
  
 21. CUSIP, ISIN and Common Code Numbers. 
  
 The Company has caused CUSIP, ISIN and Common Code numbers, if applicable, to
be printed on the Securities and has directed the Trustee to use CUSIP, ISIN and Common Code numbers, if applicable, in notices of redemption as a convenience to Holders. No representation is made as to the accuracy of such numbers either as printed
on the Securities or as contained in any notice of redemption and reliance may be placed only on the other identification numbers placed thereon. 
  
 The Company will furnish to any Holder of Securities upon written request and without charge to the Holder a copy of the Indenture which has in it the
text of this Security. 
  

 11 

  
 ASSIGNMENT FORM 

 
 To assign this Security, fill in the form below: 
  
 I or we assign and transfer this Security to 
  

					
	 	  	 	  	 
	 	  	(Print or type assignee’s name, address and zip code)	  	 
			
	 	  	 	  	 
	 	  	(Insert assignee’s soc. sec. or tax I.D. No.)	  	 

  
 and irrevocably appoint
                                        
agent to transfer this Security on the books of the Company. The agent may substitute another to act for him. 
  

			
	 	  	 

  
 Date:
                                 Your Signature:
                                     
  

			
	 	  	 
	Sign exactly as your name appears on the other side of this Security.	  	 

  
 SIGNATURE GUARANTEE

  
 Signatures must be guaranteed by an “eligible guarantor
institution” meeting the requirements of the Registrar, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be
determined by the Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 
  

 12 

  
 CERTIFICATE TO BE DELIVERED
UPON EXCHANGE OR 
 REGISTRATION OF TRANSFER RESTRICTED SECURITIES 
  
 This certificate relates to
$                     principal amount of Securities held in (check applicable space)
             book-entry or              definitive form by the undersigned. 
  
 In connection with any transfer of any of the Securities evidenced by this certificate
occurring prior to the expiration of the period referred to in Rule 144(k) under the Securities Act, the undersigned confirms that such Securities are being transferred in accordance with its terms: 
  
 CHECK ONE BOX BELOW 
  

					
	(1)	  	 ̈	  	to the Company; or
			
	(2)	  	 ̈	  	to the Registrar for registration in the name of the Holder, without transfer; or
			
	(3)	  	 ̈	  	pursuant to an effective registration statement under the Securities Act of 1933; or
			
	(4)	  	 ̈	  	inside the United States to a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act of 1933) that purchases for its own account or for the account of a
qualified institutional buyer to whom notice is given that such transfer is being made in reliance on Rule 144A, in each case pursuant to and in compliance with Rule 144A under the Securities Act of 1933; or
			
	(5)	  	 ̈	  	outside the United States in an offshore transaction within the meaning of Regulation S under the Securities Act in compliance with Rule 904 under the Securities Act of 1933; or
			
	(6)	  	 ̈	  	to an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act of 1933) that has furnished to the Trustee a signed letter containing
certain representations and agreements; or
			
	(7)	  	 ̈	  	pursuant to the exemption from registration provided by Rule 144 under the Securities Act of 1933.
			
	(8)	  	 ̈	  	pursuant to another available exemption from registration provided under the Securities Act of 1933.

  
 Unless one of the boxes is checked,
the Trustee will refuse to register any of the Securities evidenced by this certificate in the name of any Person other than the registered Holder thereof; provided, however, that if box (5), (6), (7) or (8) is checked, the Trustee may
require, prior to registering any such transfer of the Securities, such legal opinions, certifications and other information as the Company or the Trustee have reasonably requested to confirm that such transfer is being made pursuant to an exemption
from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933. 
  

	
	
	 
	 Your Signature

  

 13 

									
	 Signature Guarantee:
	 	 	 	 
					
	Date: 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Signature of Signature Guarantee

  
 SIGNATURE GUARANTEE

  
 Signatures must be guaranteed by an “eligible guarantor
institution” meeting the requirements of the Registrar, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be
determined by the Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 
  
                                       
                                        
                                        
                                        
                                        
                                        
                    
  
 TO BE COMPLETED BY PURCHASER IF (4) ABOVE IS CHECKED 
  
 The undersigned represents and warrants that it is purchasing this Security for its own account or an account with respect to which it exercises sole
investment discretion and that it and any such account is a “qualified institutional buyer” within the meaning of Rule 144A under the Securities Act of 1933 and is aware that the sale to it is being made in reliance on Rule 144A and
acknowledges that it has received such information regarding the Company as the undersigned has requested pursuant to Rule 144A or has determined not to request such information and that it is aware that the transferor is relying upon the
undersigned’s foregoing representations in order to claim the exemption from registration provided by Rule 144A. 
  

									
					
	Dated: 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 NOTICE: To be executed by an executive officer

  

 14 

  
 TO BE COMPLETED BY PURCHASER
IF (5) ABOVE IS CHECKED 
  
 The undersigned represents and
warrants that: 
  
 (a) the offer of the
Securities was not made to a person in the United States; 
  
 (b) either (i) at the time the buy order was originated, the transferee was outside the United States or we and any person acting on our behalf reasonably believed that the transferee was outside the United States or
(ii) the transaction was executed in, on or through the facilities of a designated offshore securities market and neither we nor any person acting on our behalf knows that the transaction has been pre-arranged with a buyer in the United States;

  
 (c) no directed selling efforts have been
made in the United States in contravention of the requirements of Rule 903(a)(2) or Rule 904(a)(2) of Regulation S, as applicable; and 
  
 (d) the transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act. 
  
 In addition, if the sale is made during the Restricted Period and the
provisions of Rule 903(b)(2) or Rule 904(b)(1) of Regulation S are applicable thereto, we confirm that such sale has been made in accordance with the applicable provisions of Rule 903(b)(2) or Rule 904(b)(1), as the case may be. 
  

									
					
	Dated: 	 	 	 	 	 	 	 	 

  

 15 

 OPTION OF HOLDER TO ELECT PURCHASE 
  
 If you want to elect to have this Security purchased by the Company pursuant to Section 4.06 (Asset Disposition) or 4.08
(Change of Control) of the Indenture, check the box: 
  
 Asset
Disposition  ̈    Change of Control  ̈ 
  
 If you want to elect to have
only part of this Security purchased by the Company pursuant to Section 4.06 or 4.08 of the Indenture, state the amount ($1,000 or an integral multiple thereof, provided that no partial redemption may reduce the portion of the principal
amount of a Security not redeemed to less than $2,000): 
  
 $ 
  
 Date:
                                     Your Signature:
                                        
         
 (Sign exactly as your name appears on the other side of the Security) 
  

			
		
	Signature Guarantee:	 	 
	 	 	 

  
 SIGNATURE GUARANTEE

  
 Signatures must be guaranteed by an “eligible guarantor
institution” meeting the requirements of the Registrar, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be
determined by the Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 
  

 16 

  
 [TO BE ATTACHED TO GLOBAL
SECURITIES] 
  
 SCHEDULE OF INCREASES OR DECREASES IN GLOBAL
SECURITY 
  
 The initial principal amount of this Global Security
is $[        ]. The following increases or decreases in this Global Security have been made: 
  

									
	 Date of
Exchange

	 	 Amount of decrease
in Principal Amount
of this Global
Security

	 	 Amount of increase
in Principal Amount
of this Global
Security

	 	 Principal amount of
this Global Security
following such
decrease or increase

	 	 Signature of
authorized signatory
of Trustee or
Securities Custodian

  

  
 EXHIBIT B 
  
 [FORM OF FACE OF EXCHANGE SECURITY AND 
 ANY ADDITIONAL SECURITY THAT IS NOT A 
 TRANSFER
RESTRICTED SECURITY] 
  
 [Global Securities Legend] 
  
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, TO THE COMPANY OR THE COMPANY’S AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
  
 TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO DTC, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH
SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 
  
 THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF, REPRESENTS AND
WARRANTS THAT EITHER (A) NO PORTION OF THE ASSETS USED BY SUCH HOLDER TO ACQUIRE AND HOLD THIS SECURITY CONSTITUTES THE ASSETS OF ANY EMPLOYEE BENEFIT PLAN SUBJECT TO TITLE I OF THE U.S. EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED
(“ERISA”), ANY PLAN, INDIVIDUAL RETIREMENT ACCOUNT OR OTHER ARRANGEMENT SUBJECT TO SECTION 4975 OF THE U.S. INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR PROVISIONS UNDER ANY FEDERAL, STATE, LOCAL, NON-U.S. OR OTHER
LAWS OR REGULATIONS THAT ARE SIMILAR TO SUCH PROVISIONS OF ERISA OR THE CODE (COLLECTIVELY, “SIMILAR LAWS”) OR ANY ENTITY WHOSE UNDERLYING ASSETS ARE CONSIDERED TO INCLUDE “PLAN ASSETS” OF ANY SUCH PLAN, ACCOUNT OR ARRANGEMENT OR
(B) THE ACQUISITION OR HOLDING OF THIS SECURITY BY YOU WILL NOT CONSTITUTE A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE OR A VIOLATION UNDER ANY APPLICABLE SIMILAR LAWS. 
  

					
	No. [    ]	  	 	  	$                    
			
	 	  	6.00% Senior Subordinated Note due 2012	  	 
			
	 	  	 	  	CUSIP No.[    ]
	 	  	 	  	ISIN No. [    ]

  
 CHURCH & DWIGHT
CO., INC., a Delaware corporation (the “Company”), promises to pay to Cede & Co., or registered assigns, the principal sum listed on the Schedule of Increases or Decreases in Global Security attached hereto on December 15, 2012.

  
 Interest Payment Dates: June 15 and December 15. 

 
 Record Dates: June 1 and December 1. 
  
 Additional provisions of this Security are set forth on the other side of
this Security. 
  
 IN WITNESS WHEREOF, the parties have caused
this instrument to be duly executed. 
  

			
	CHURCH & DWIGHT CO., INC.
		
	By:	 	 
	 Name:
	 	 
	 Title:
	 	 

  
 Dated: 
  

			
	 TRUSTEE’S CERTIFICATE OF AUTHENTICATION

	
	 THE BANK OF NEW YORK,
as Trustee, certifies that this is one of the Securities referred to in the
Indenture.

		
	By:	 	 
	 	 	 Authorized Signatory

  

 2 

  
 [FORM OF REVERSE SIDE OF
EXCHANGE SECURITY AND 
 ANY ADDITIONAL SECURITY THAT IS NOT A 
 TRANSFER RESTRICTED SECURITY] 
  
 6.00% Senior Subordinated Note due 2012 
  
 1.
Interest. 
  
 Church & Dwight Co., Inc. a Delaware
corporation (such company, and its successors and assigns under the Indenture hereinafter referred to, being herein called the “Company”), promises to pay interest on the principal amount of this Security at the rate per annum shown
above. The Company and shall pay interest semiannually on June 15 and December 15 of each year. Interest on the Securities shall accrue from the most recent date to which interest has been paid or duly provided for, or if no interest has been paid
or duly provided for, from December 22, 2004 until the principal hereof is due. Interest shall be computed on the basis of a 360-day year of twelve 30-day months. The Company shall pay interest on overdue principal at the rate borne by the
Securities plus 1% per annum, and it shall pay interest on overdue installments of interest at the same rate to the extent lawful. 
  
 2. Method of Payment. 
  
 The Company shall pay interest on the Securities (except defaulted interest) to the Persons who are registered Holders at the close of business on the
June 1 or December 1 next preceding the interest payment date even if Securities are canceled after the record date and on or before the interest payment date. Holders must surrender Securities to a Paying Agent to collect principal payments. The
Company shall pay principal, premium, if any, and interest in money of the United States of America that at the time of payment is legal tender for payment of public and private debts. Payments in respect of the Securities represented by a Global
Security (including principal, premium, if any, and interest) shall be made by wire transfer of immediately available funds to the accounts specified by The Depository Trust Company or any successor depositary. The Company will make all payments in
respect of a certificated Security (including principal, premium, if any, and interest), at the office of the Paying Agent, except that, at the option of the Company, payment of interest may be made by mailing a check to the registered address of
each Holder thereof; provided, however, that payments on the Securities may also be made, in the case of a Holder of at least $1,000,000 aggregate principal amount of Securities, by wire transfer to a U.S. dollar account maintained by
the payee with a bank in the United States if such Holder elects payment by wire transfer by giving written notice to the Trustee or the Paying Agent to such effect designating such account no later than 30 days immediately preceding the relevant
due date for payment (or such other date as the Trustee may accept in its discretion). 
  
 3. Paying Agent and Registrar. 
  
 Initially, The Bank of New York, a New York banking corporation (the “Trustee”), will act as Paying Agent and Registrar. The Company may appoint and change any Paying Agent or Registrar without notice to the Holders. The
Company or any of the Company’s Domestic Subsidiaries that are Wholly Owned Subsidiaries may act as Paying Agent or Registrar. 
  

 3 

 4. Indenture. 
  
 The Company issued the Securities under an Indenture dated as of December 22, 2004 (the “Indenture”),
between the Company and the Trustee. The terms of the Securities include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939 (15 U.S.C. §§ 77aaa-77bbbb) as in effect on
the date of the Indenture (the “TIA”). Terms defined in the Indenture and not defined herein have the meanings ascribed thereto in the Indenture. The Securities are subject to all terms and provisions of the Indenture, and Holders
(as defined in the Indenture) are referred to the Indenture and the TIA for a statement of such terms and provisions. 
  
 The Securities are senior subordinated unsecured obligations of the Company. This Security is one of the [Insert if appropriate: Exchange
Securities] [Insert if appropriate: Additional Securities] referred to in the Indenture. The Securities include the Initial Securities, the Additional Securities and the Exchange Securities issued in exchange for the Initial Securities or
Additional Securities pursuant to the Indenture. The Initial Securities, the Additional Securities and the Exchange Securities are treated as a single class of securities under the Indenture. The Indenture imposes certain limitations on the ability
of the Company and its Restricted Subsidiaries to, among other things, make certain Investments and other Restricted Payments, pay dividends and other distributions, incur Indebtedness, enter into consensual restrictions upon the payment of certain
dividends and distributions by such Restricted Subsidiaries, issue or sell shares of capital stock of such Restricted Subsidiaries, enter into or permit certain transactions with Affiliates, create or incur Liens and make Asset Dispositions. The
Indenture also imposes limitations on the ability of the Company and each Subsidiary Guarantor to consolidate or merge with or into any other Person or convey, transfer or lease all or substantially all its property. 
  
 To guarantee the due and punctual payment of the principal and interest on
the Securities and all other amounts payable by the Company under the Indenture and the Securities when and as the same shall be due and payable, whether at maturity, by acceleration or otherwise, according to the terms of the Securities and the
Indenture, the Subsidiary Guarantors have jointly and severally unconditionally guaranteed the Guaranteed Obligations on a senior subordinated basis pursuant to the terms of the Indenture. 
  
 5. Optional Redemption. 
  
 (a) The Securities may be redeemed, in whole or in part, at any time prior to
December 15, 2008 at the option of the Company upon not less than 30 nor more than 60 days’ prior notice mailed by first-class mail to each Holder of Securities at its registered address, at a redemption price equal to 100% of the principal
amount of the Securities redeemed plus the Applicable Premium as of, and accrued and unpaid interest to, the applicable redemption date (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant
interest payment date). 
  

 4 

 For purposes of the preceding paragraph, the following terms will have the following definitions:

  
 “Applicable Premium” means, with respect to
any Security on any applicable redemption date, the greater of: 
  

	 	(1)	1.0% of the then outstanding principal amount of the Security; and 

  

	 	(2)	the excess of: 

  

	 	(a)	the present value at such redemption date of (i) the redemption price of such Security at December 15, 2008 (such redemption price being set forth in the table appearing in
paragraph 5(b) below) plus (ii) all required interest payments due on the Security through December 15, 2008 (excluding accrued but unpaid interest), computed using a discount rate equal to the Treasury Rate plus 75 basis points over

  

	 	(b)	the then outstanding principal amount of the Security. 

  
 “Treasury Rate” means the yield to maturity at the time of computation of United States Treasury securities with a constant maturity (as
compiled and published in the most recent Federal Reserve Statistical Release H.15 (519) which has become publicly available at least two business days prior to the redemption date (or, if such Statistical Release is no longer published, any
publicly available source or similar market data)) most nearly equal to the period from the redemption date to December 15, 2008; provided, however, that if the period from the redemption date to December 15, 2008 is not equal to the constant
maturity of a United States Treasury security for which a weekly average yield is given, the Treasury Rate shall be obtained by linear interpolation (calculated to the nearest one-twelfth of a year) from the weekly average yields of United States
Treasury securities for which such yields are given, except that if the period from the redemption date to December 15, 2008 is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant
maturity of one year shall be used. 
  
 (b) In addition, on and
after December 15, 2008, the Securities shall be redeemable at the option of the Company, in whole or in part, on not less than 30 nor more than 60 days’ prior notice, at the following redemption prices (expressed as percentages of principal
amount), plus accrued and unpaid interest to the redemption date (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date), if redeemed during the 12-month period commencing
on December 15 of the years set forth below: 
  

				
	 Year

	  	Redemption
Price

	 
	 2008
	  	103.000	%
	 2009
	  	101.500	%
	 2010 and thereafter
	  	100.000	%

  

 5 

 (c) In addition, prior to December 15, 2007, the Company may redeem, on one or more occasions, up to a
maximum of 35% of the original aggregate principal amount of the Securities (calculated giving effect to any issuance of Additional Securities) with the Net Cash Proceeds of one or more Equity Offerings by the Company, at a redemption price equal to
106.0% of the principal amount thereof, plus accrued and unpaid interest thereon to the redemption date (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date);
provided, however, that after giving effect to any such redemption, (i) at least 65% of the original aggregate principal amount of the Securities (calculated giving effect to any issuance of Additional Securities) remains outstanding,
and (ii) any such redemption shall be made within 90 days of such Equity Offering upon not less than 30 nor more than 60 days’ notice mailed to each Holder of Securities being redeemed and otherwise in accordance with the procedures set forth
in the Indenture. 
  
 6. Sinking Fund. 
  
 The Securities are not subject to any sinking fund. 
  
 7. Notice of Redemption. 
  
 Notice of an optional redemption pursuant to paragraph 5 above will be mailed
by first-class mail at least 30 days but not more than 60 days before the redemption date to each Holder of Securities to be redeemed at his or her registered address. Securities in denominations larger than $2,000 may be redeemed in part but only
in integral multiples of $1,000; provided, however, that no such partial redemption shall reduce the portion of the principal amount of a Security not redeemed to less than $2,000. On and after the redemption date, interest shall cease
to accrue on Securities or portions thereof called for redemption so long as the Company has deposited with the Paying Agent funds sufficient to pay the principal of, plus accrued and unpaid interest on, the Securities to be redeemed, whether or not
such Securities are presented for payment, unless the Paying Agent is prohibited from making such payment pursuant to the terms of the Indenture. 
  
 8. Repurchase of Securities at the Option of Holders upon Change of Control and Asset Dispositions. 
  
 Upon a Change of Control, any Holder of Securities will have the right,
subject to certain conditions specified in the Indenture, to cause the Company to repurchase all or any part of the Securities of such Holder at a purchase price equal to 101% of the principal amount of the Securities to be repurchased plus accrued
and unpaid interest to the date of repurchase (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date) as provided in, and subject to the terms of, the Indenture.

  
 In accordance with Section 4.06 of the Indenture, the Company
will be required to offer to purchase Securities upon the occurrence of certain events. 
  
 9. Subordination. The Securities and Subsidiary Guarantees are subordinated to Senior Indebtedness, as defined and set forth more fully in the Indenture. To the extent provided in the Indenture, Senior
Indebtedness must be paid before the Securities and Subsidiary Guarantees may be paid. The Company and each Subsidiary Guarantor agrees, and 

  

 6 

 
each Holder by accepting a Security agrees, to the subordination provisions contained in the Indenture, authorizes the Trustee to give it effect and appoints
the Trustee as attorney-in-fact for such purpose. 
  
 10.
Denominations; Transfer; Exchange. The Securities are in registered form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof. A Holder may transfer or exchange Securities in accordance with the
Indenture. Upon any transfer or exchange, the Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements or transfer documents and to pay any taxes required by law or permitted by the Indenture. The
Registrar need not register the transfer of or exchange any Securities selected for redemption (except, in the case of a Security to be redeemed in part, the portion of the Security not to be redeemed) or to transfer or exchange any Securities for a
period of 15 days prior to a selection of Securities to be redeemed. 
  
 11. Persons Deemed Owners. 
  
 The registered
Holder of this Security may be treated as the owner of it for all purposes. 
  
 12. Unclaimed Money. 
  
 If
money for the payment of principal or interest remains unclaimed for two years, the Trustee and the Paying Agent shall pay the money back to the Company upon their written request unless an abandoned property law designates another Person. After any
such payment, Holders entitled to the money must look to the Company for payment as general creditors and the Trustee and the Paying Agent shall have no further liability with respect to such monies. 
  
 13. Discharge and Defeasance. 
  
 Subject to certain conditions set forth in the Indenture, the Company at any
time may terminate some of or all of their obligations under the Securities and the Indenture if the Company deposits with the Trustee money or U.S. Government Obligations or a combination thereof for the payment of principal of, and interest on,
the Securities to redemption or maturity, as the case may be. 
  
 14. Amendment, Waiver. 
  
 Subject to certain
exceptions set forth in the Indenture, (i) the Indenture or the Securities may be amended without prior notice to any Holder but with the written consent of the Holders of at least a majority in aggregate principal amount of the Securities then
outstanding and (ii) any existing default (other than an existing default in respect of the payment of principal or interest on the Securities or in respect of a provision that cannot be amended without the written consent of each Holder affected)
may be waived with the written consent of the Holders of at least a majority in principal amount of the Securities then outstanding. Subject to certain conditions set forth in the Indenture, without the consent of any Holder, the Company, the
Subsidiary Guarantors and the Trustee may amend the Indenture or the Securities (i) to cure any ambiguity, omission, defect or inconsistency; (ii) to comply with Article 5 of the Indenture; (iii) to provide for uncertificated Securities in addition
to or in place of certificated Securities; (iv) to 

  

 7 

 
make any change in Article 10 or Article 12 of the Indenture that would limit or terminate the benefits available to any holder of Senior Indebtedness of the
Company or a Subsidiary Guarantor (or any Representative thereof) under Article 10 or Article 12, respectively; (v) to add additional Guarantees with respect to the Securities; (vi) to secure the Securities; (vii) to add additional covenants or to
surrender rights and powers conferred on the Company; (viii) to comply with the requirements of the SEC in order to effect or maintain the qualification of the Indenture under the TIA; (ix) to make any change that does not adversely affect the
rights of any Holder; (x) to provide for the issuance of the Exchange Securities or Additional Securities; or (xi) to release a Subsidiary Guarantor from its obligations under its Subsidiary Guarantee or the Indenture in accordance with the
applicable provisions of the Indenture. 
  
 15. Defaults and
Remedies. If an Event of Default occurs (other than an Event of Default relating to certain events of bankruptcy, insolvency or reorganization of the Company) and is continuing, the Trustee or the Holders of at least 25% in principal amount of
the Securities then outstanding may declare the principal of and accrued but unpaid interest on all the Securities to be due and payable. If an Event of Default relating to certain events of bankruptcy, insolvency or reorganization of the Company
occurs, the principal of and interest on all the Securities shall become immediately due and payable without any declaration or other act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in principal
amount of the outstanding Securities may rescind any such acceleration with respect to the Securities and its consequences. 
  
 If an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any of the rights or powers under the Indenture at
the request or direction of any of the Holders unless such Holders have offered to the Trustee reasonable indemnity or security against any loss, liability or expense and certain other conditions are complied with. Except to enforce the right to
receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to the Indenture or the Securities unless (i) such Holder has previously given the Trustee notice that an Event of Default is
continuing, (ii) Holders of at least 25% in principal amount of the outstanding Securities have requested the Trustee in writing to pursue the remedy, (iii) such Holders have offered the Trustee security or indemnity reasonably satisfactory to it
against any loss, liability or expense, (iv) the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security or indemnity and (v) the Holders of a majority in principal amount of the
outstanding Securities have not given the Trustee a direction inconsistent with such request within such 60-day period. Subject to certain restrictions, the Holders of a majority in principal amount of the outstanding Securities are given the right
to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may refuse to follow any direction that conflicts with law
or the Indenture or that the Trustee determines is unduly prejudicial to the rights of any other Holder or that would involve the Trustee in personal liability. Prior to taking any action under the Indenture, the Trustee shall be entitled to
security or indemnity reasonably satisfactory to it against the costs, expenses and liabilities that may be incurred therein or thereby. 
  

 8 

 16. Trustee Dealings with the Company. 
  
 Subject to certain limitations imposed by the TIA, the Trustee under the
Indenture, in its individual or any other capacity, may become the owner or pledgee of Securities and may otherwise deal with and collect obligations owed to it by the Company or its Affiliates and may otherwise deal with the Company or its
Affiliates with the same rights it would have if it were not Trustee. 
  
 17. No Recourse Against Others. 
  
 A director,
officer, employee or stockholder, as such, of the Company or any Subsidiary Guarantor shall not have any liability for any obligations of the Company under the Securities or the Indenture or for any claim based on, in respect of or by reason of such
obligations or their creation. By accepting a Security, each Holder waives and releases all such liability, to the extent permitted by applicable law. The waiver and release are part of the consideration for the issue of the Securities. 

 
 18. Authentication. 
  
 This Security shall not be valid until an authorized signatory of the Trustee
(or an authenticating agent) manually signs the certificate of authentication on the other side of this Security. 
  
 19. Abbreviations. 
  
 Customary abbreviations may be used in the name of a Holder or an assignee, such as TEN COM (=tenants in common), TEN ENT (=tenants by the entireties), JT
TEN (=joint tenants with rights of survivorship and not as tenants in common), CUST (=custodian), and U/G/M/A (=Uniform Gift to Minors Act). 
  
 20. Governing Law. 
  
 THIS SECURITY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
  
 21. CUSIP, ISIN and Common Code Numbers. 
  
 The Company has caused CUSIP, ISIN and Common Code numbers, if applicable, to
be printed on the Securities and has directed the Trustee to use CUSIP, ISIN and Common Code numbers, if applicable, in notices of redemption as a convenience to Holders. No representation is made as to the accuracy of such numbers either as printed
on the Securities or as contained in any notice of redemption and reliance may be placed only on the other identification numbers placed thereon. 
  
 The Company will furnish to any Holder of Securities upon written request and without charge to the Holder a copy of the Indenture which has in it the
text of this Security. 
  

 9 

  
 ASSIGNMENT FORM 

 
 To assign this Security, fill in the form below: 
  
 I or we assign and transfer this Security to 
  

					
	 	  	 	  	 
	 	  	(Print or type assignee’s name, address and zip code)	  	 
			
	 	  	 	  	 
	 	  	(Insert assignee’s soc. sec. or tax I.D. No.)	  	 

  
 and irrevocably appoint
                                 agent to transfer this Security on the books of
the Company. The agent may substitute another to act for him. 
  

			
	 	  	 

  
 Date:
                                 Your Signature:
                                     
  

			
	 	  	 
	Sign exactly as your name appears on the other side of this Security.	  	 

  
 SIGNATURE GUARANTEE

  
 Signatures must be guaranteed by an “eligible guarantor
institution” meeting the requirements of the Registrar, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be
determined by the Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 
  

 10 

  
 OPTION OF HOLDER TO ELECT
PURCHASE 
  
 If you want to elect to have this Security purchased
by the Company pursuant to Section 4.06 (Asset Disposition) or 4.08 (Change of Control) of the Indenture, check the box: 
  
 Asset Disposition  ̈    Change
of Control  ̈ 
  
 If you want to elect to have only part of this Security purchased by the Company pursuant to Section 4.06 or 4.08 of the Indenture, state the amount ($1,000 or an
integral multiple thereof, provided that no partial redemption may reduce the portion of the principal amount of a Security not redeemed to less than $2,000): 
  
 $ 
  

							
	 Date:
	  	 	  	Your Signature:	 	 
	 	  	 	  	 	 	 (Sign exactly as your name appears
 on the other side of the Security)

  

			
	 Signature Guarantee:
	 	 

  
 SIGNATURE GUARANTEE

  
 Signatures must be guaranteed by an “eligible guarantor institution”
meeting the requirements of the Registrar, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the
Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 
  

 11 

  
 [TO BE ATTACHED TO GLOBAL
SECURITIES] 
  
 SCHEDULE OF INCREASES OR DECREASES IN GLOBAL
SECURITY 
  
 The initial principal amount of this Global Security
is $[        ]. The following increases or decreases in this Global Security have been made: 
  

									
	 Date of
 Exchange

	 	 Amount of decrease
 in Principal Amount
 of this Global
 Security

	 	 Amount of increase
 in Principal Amount
 of this Global
 Security

	  	 Principal amount of
 this Global Security
following such
 decrease or increase

	  	 Signature of
 authorized signatory
 of Trustee or
 Securities Custodian

  

 12 

  
 EXHIBIT C 
  
 [FORM OF SUPPLEMENTAL INDENTURE] 
  
 SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”) dated
as of [        ], among [GUARANTOR] (the “New Guarantor”), a subsidiary of CHURCH & DWIGHT CO., INC. (or its successor), a Delaware corporation (the “Company”), [EXISTING
GUARANTORS] and THE BANK OF NEW YORK, a New York banking corporation, as trustee under the indenture referred to below (the “Trustee”). 
  
 W I T N E S S E T H : 
  
 WHEREAS the Company and [OLD GUARANTORS] (the “Existing Guarantors”) have heretofore executed and delivered to the Trustee an Indenture
(the “Indenture”) dated as of December 22, 2004, providing for the issuance of the Company’s 6.00% Senior Subordinated Notes due 2012 (the “Securities”); 
  
 WHEREAS Section 4.11 of the Indenture provides that under certain
circumstances the Company are required to cause the New Guarantor to execute and deliver to the Trustee a supplemental indenture pursuant to which the New Guarantor shall unconditionally guarantee all the Company’s obligations under the
Securities pursuant to a Subsidiary Guarantee on the terms and conditions set forth herein; and 
  
 WHEREAS pursuant to Section 9.01 of the Indenture, the Trustee, the Company and the Existing Guarantors are authorized to execute and deliver this
Supplemental Indenture; 
  
 NOW THEREFORE, in consideration of the
foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the New Guarantor, the Company, the Existing Guarantors and the Trustee mutually covenant and agree for the equal and ratable benefit of the
holders of the Securities as follows: 
  
 1. Agreement to
Guarantee. The New Guarantor hereby agrees, jointly and severally with all the Existing Guarantors, to unconditionally guarantee the Company’s obligations under the Securities on the terms and subject to the conditions set forth in Articles
11 and 12 of the Indenture and to be bound by all other applicable provisions of the Indenture and the Securities. 
  
 2. Ratification of Indenture; Supplemental Indentures Part of Indenture. Except as expressly amended hereby, the Indenture is in all respects
ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. This Supplemental Indenture shall form a part of the Indenture for all purposes, and every holder of Securities heretofore or
hereafter authenticated and delivered shall be bound hereby. 
  
 3. Governing Law. THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
  

 4. Trustee Makes No Representation. The Trustee makes no representation as to the validity or
sufficiency of this Supplemental Indenture. 
  
 5.
Counterparts. The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. 
  
 6. Effect of Headings. The Section headings herein are for convenience
only and shall not effect the construction thereof. 
  

 2 

  
 IN WITNESS WHEREOF, the
parties hereto have caused this Supplemental Indenture to be duly executed as of the date first above written. 
  

			
	[NEW GUARANTOR]
		
	By:	 	 
	 Name:
	 	 
	 Title:
	 	 
	
	CHURCH & DWIGHT CO., INC.
		
	By:	 	 
	 Name:
	 	 
	 Title:
	 	 
	
	[EXISTING GUARANTORS]
		
	By:	 	 
	 Name:
	 	 
	 Title:
	 	 
	
	THE BANK OF NEW YORK, as Trustee
		
	By:	 	 
	 Name:
	 	 
	 Title:
	 	 

  

 3 

  
 EXHIBIT D 
  
 [FORM OF TRANSFEREE LETTER OF REPRESENTATION 
  
 Church & Dwight Co., Inc. 
 469 North Harrison Street 
 Princeton, NJ 08543 
  
 The Bank of New York 
 101 Barclay Street, 8W

 New York, NY 10286 
 Attention: Corporate Trust Administration

  
 Ladies and Gentlemen: 
  
 This certificate is delivered to request a transfer of
$                     amount of the 6.00% Senior Subordinated Notes due 2012 (the “Securities”) of Church & Dwight Co.,
Inc. (the “Company”). 
  
 Upon transfer, the
Securities would be registered in the name of the new beneficial owner as follows: 
  
 Name: ____________________________ 
  
 Address: ________________________

  
 Taxpayer ID Number: ___________ 
  
 The undersigned represents and warrants to you that: 
  
 1. We are an institutional “accredited investor” (as defined in
Rule 501(a)(1), (2), (3) or (7) under the Securities Act of 1933, as amended (the “Securities Act”)), purchasing for our own account or for the account of such an institutional “accredited investor” at least $250,000
principal amount of the Securities, and we are acquiring the Securities not with a view to, or for offer or sale in connection with, any distribution in violation of the Securities Act. We have such knowledge and experience in financial and business
matters as to be capable of evaluating the merits and risks of our investment in the Securities, and we invest in or purchase securities similar to the Securities in the normal course of our business. We, and any accounts for which we are acting,
are each able to bear the economic risk of our or its investment. 
  
 2. We understand that the Securities have not been registered under the Securities Act and, unless so registered, may not be sold except as permitted in the following sentence. We agree on our own behalf and on behalf of any investor
account for which we are purchasing Securities to offer, sell or otherwise transfer such Securities prior to the date that is two years after the later of the date of original issue and the last date on which the Company, or any affiliate of the
Company was the owner of such Securities (or any predecessor thereto) (the “Resale Restriction Termination Date”) only (a) to the Company, (b) pursuant to a registration statement that has been declared effective under the
Securities Act, (c) in a transaction 

  

 
complying with the requirements of Rule 144A under the Securities Act (“Rule 144A”) to a person we reasonably believe is a qualified
institutional buyer under Rule 144A (a “QIB”) that is purchasing for its own account or for the account of a QIB and to whom notice is given that the transfer is being made in reliance on Rule 144A, (d) pursuant to offers and sales that
occur outside the United States in an offshore transaction within the meaning of Regulation S under the Securities Act, (e) to an institutional “accredited investor” within the meaning of Rule 501(a)(1), (2), (3) or (7) under the
Securities Act that is purchasing for its own account or for the account of such an institutional “accredited investor,” in each case in a minimum principal amount of Securities of $250,000, or (f) pursuant to any other available exemption
from the registration requirements of the Securities Act in compliance with Rule 904 under the Securities Act of 1933, subject in each of the foregoing cases to any requirement of law that the disposition of our property or the property of such
investor account or accounts be at all times within our or their control and in compliance with any applicable state securities laws. The foregoing restrictions on resale will not apply subsequent to the Resale Restriction Termination Date. If any
resale or other transfer of the Securities is proposed to be made pursuant to clause (e) above prior to the Resale Restriction Termination Date, the transferor shall deliver a letter from the transferee substantially in the form of this letter to
the Company and the Trustee, which shall provide, among other things, that the transferee is an institutional “accredited investor” within the meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act and that it is acquiring
such Securities for investment purposes and not for distribution in violation of the Securities Act. Each purchaser acknowledges that the Company and the Trustee reserve the right prior to the offer, sale or other transfer prior to the Resale
Restriction Termination Date of the Securities pursuant to clause (d), (e) or (f) above to require the delivery of an opinion of counsel, certifications or other information satisfactory to the Company and the Trustee. 
  

			
	 [NAME OF TRANSFEREE]

		
	By:	 	 
	 Name:
	 	 
	 Title:
	 	 

  

 2Purchase Agreement, dated as of December 15, 2004

  
 Exhibit 10.1 
  
 EXECUTION COPY 
  
 $250,000,000 
  
 CHURCH & DWIGHT CO., INC. 
  
 6.00% Senior Subordinated Notes due 2012 
  
 Purchase Agreement 
  
 December 15, 2004 
  
 J.P. Morgan Securities Inc. 
     As Representative of the 
     several Initial Purchasers listed 
     in Schedule 1 hereto 
 c/o J.P. Morgan Securities Inc. 
 270 Park Avenue 
 New York, New York 10017 
  
 Ladies and Gentlemen: 
  
 Church & Dwight Co., Inc., a Delaware corporation (the “Company”), proposes to issue and sell to the several Initial Purchasers
listed in Schedule 1 hereto (the “Initial Purchasers”), for whom you are acting as representative (the “Representative”), $250,000,000 principal amount of its 6.00% Senior Subordinated Notes due 2012 (the
“Securities”). The Securities will be issued pursuant to an Indenture to be dated as of December 22, 2004 (the “Indenture”) among the Company, Church & Dwight Company, a Wyoming corporation (the
“Guarantor”) and The Bank of New York, as trustee (the “Trustee”), and will be guaranteed on an unsecured senior subordinated basis by the Guarantor (the “Guarantee”). 
  
 The Securities will be sold to the Initial Purchasers without being
registered under the Securities Act of 1933, as amended (the “Securities Act”), in reliance upon an exemption therefrom. The Company has prepared a preliminary offering memorandum dated December 7, 2004 (the “Preliminary
Offering Memorandum”) and will prepare an offering memorandum dated the date hereof (the “Offering Memorandum”) setting forth information concerning the Company and the Securities. Copies of the Preliminary Offering
Memorandum have been, and copies of the Offering Memorandum will be, delivered by the Company to the Initial Purchasers pursuant to the terms of this Agreement. The Company hereby confirms that it has authorized the use of the Preliminary Offering
Memorandum and the Offering Memorandum in connection with the offering and resale of the Securities by the Initial Purchasers in the manner contemplated by this Agreement. Capitalized terms used but not defined herein shall have the meanings given
to such terms in the Offering Memorandum. References herein to the Preliminary Offering Memorandum and the Offering Memorandum shall be deemed to refer to and include any document incorporated by reference therein. 
  

 Holders of the Securities (including the Initial Purchasers and their direct and indirect transferees)
will be entitled to the benefits of a Registration Rights Agreement, to be dated the Closing Date (as defined below) and substantially in the form attached hereto as Exhibit A (the “Registration Rights Agreement”), pursuant to which
the Company and the Guarantor will agree to file one or more registration statements with the Securities and Exchange Commission (the “Commission”) providing for the registration under the Securities Act of the Securities or the
Exchange Securities referred to (and as defined) in the Registration Rights Agreement. 
  
 The Company hereby confirms its agreement with the several Initial Purchasers concerning the purchase and resale of the Securities, as follows: 
  
 1. Purchase and Resale of the Securities. (a) The Company agrees to issue and sell the Securities to the several
Initial Purchasers as provided in this Agreement, and each Initial Purchaser, on the basis of the representations, warranties and agreements set forth herein and subject to the conditions set forth herein, agrees, severally and not jointly, to
purchase from the Company the respective principal amount of Securities set forth opposite such Initial Purchaser’s name in Schedule 1 hereto at a price equal to 98.25% of the principal amount thereof plus accrued interest, if any, from
December 22, 2004 to the Closing Date. The Company will not be obligated to deliver any of the Securities except upon payment for all the Securities to be purchased as provided herein. 
  
 (b) The Company understands that the Initial Purchasers intend to offer the Securities for resale on the terms set forth in
the Offering Memorandum. Each Initial Purchaser, severally and not jointly, represents, warrants and agrees that: 
  
 (i) it is a qualified institutional buyer within the meaning of Rule 144A under the Securities Act (a “QIB”) and an
accredited investor within the meaning of Rule 501(a) under the Securities Act; 
  
 (ii) it has not solicited offers for, or offered or sold, and will not solicit offers for, or offer or sell, the Securities by means of
any form of general solicitation or general advertising within the meaning of Rule 502(c) of Regulation D under the Securities Act (“Regulation D”) or in any manner involving a public offering within the meaning of Section 4(2) of
the Securities Act; and 
  
 (iii) it has not
solicited offers for, or offered or sold, and will not solicit offers for, or offer or sell, the Securities as part of their initial offering except: 
  
 (A) within the United States to persons whom it reasonably believes to be QIBs in transactions pursuant to Rule 144A under the Securities
Act (“Rule 144A”), and in connection with each such sale, it has taken or will take reasonable steps to ensure that the purchaser of the Securities is aware that such sale is being made in reliance on Rule 144A; or 
  
 (B) in accordance with the restrictions set forth in Annex A
hereto. 
  
 (c) Each Initial Purchaser acknowledges and agrees
that the Company and, for purposes of the opinions to be delivered to the Initial Purchasers pursuant to Sections 5(f) and 5(g), 

  

 2 

 
counsel for the Company and counsel for the Initial Purchasers, respectively, may rely upon the accuracy of the representations and warranties of the Initial
Purchasers, and compliance by the Initial Purchasers with their agreements, contained in paragraph (b) above (including Annex A hereto), and each Initial Purchaser hereby consents to such reliance. 
  
 (d) The Company acknowledges and agrees that the Initial Purchasers may offer
and sell Securities to or through any affiliate of an Initial Purchaser in accordance with this Agreement and that any such affiliate may offer and sell Securities purchased by it to or through any Initial Purchaser. 
  
 2. Payment and Delivery. (a) Payment for and delivery of the
Securities will be made at the offices of Simpson Thacher & Bartlett LLP, 425 Lexington Avenue, New York, New York at 10:00 A.M., New York City time, on December 22, 2004, or at such other time or place on the same or such other date, not later
than the fifth business day thereafter, as the Representative and the Company may agree upon in writing. The time and date of such payment and delivery is referred to herein as the “Closing Date.” 
  
 (b) Payment for the Securities shall be made by wire transfer in immediately
available funds to the account(s) specified by the Company to the Representative against delivery to the nominee of The Depository Trust Company, for the account of the Initial Purchasers, of one or more global notes representing the Securities
(collectively, the “Global Note”), with any transfer taxes payable in connection with the sale of the Securities duly paid by the Company. The Global Note will be made available for inspection by the Representative not later than
1:00 P.M., New York City time, on the business day prior to the Closing Date. 
  
 3. Representations and Warranties of the Company and the Guarantor. The Company and the Guarantor jointly and severally represent and warrant to each Initial Purchaser that: 
  
 (a) Offering Memorandum. The Preliminary Offering Memorandum, as of
its date, did not, and the Offering Memorandum, in the form first used by the Initial Purchasers to confirm sales of the Securities and as of the Closing Date, will not, contain any 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 the Company and the Guarantor make no representation or warranty with respect to any
statements or omissions made in reliance upon and in conformity with information relating to any Initial Purchaser furnished to the Company in writing by such Initial Purchaser through the Representative expressly for use in the Preliminary Offering
Memorandum and the Offering Memorandum. 
  
 (b) Incorporated
Documents. The documents incorporated by reference in the Preliminary Offering Memorandum and the Offering Memorandum, when filed with the Commission, conformed or will conform, as the case may be, in all material respects to the requirements of
the Exchange Act and the rules and regulations of the Commission thereunder, and, at the time of filing with the Commission, did not or will not, as the case may be, contain any untrue statement of a material fact or omit to state a material fact
required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. 
  

 3 

 (c) Financial Statements. The financial statements and the related notes thereto included or
incorporated by reference in the Preliminary Offering Memorandum and the Offering Memorandum present fairly the financial position of the Company and its subsidiaries as of the dates indicated and the results of their operations and the changes in
their cash flows for the periods specified; such financial statements have been prepared in conformity with generally accepted accounting principles applied on a consistent basis throughout the periods covered thereby, subject, in the case of
interim financial statements, to normal year end adjustments; the other historical financial information included or incorporated by reference in the Preliminary Offering Memorandum and the Offering Memorandum has been derived from the accounting
records of the Company and its subsidiaries and presents fairly in all material respects the information shown thereby; and the pro forma income statements contained on pages P-2 to P-5 of the Preliminary Offering Memorandum and the Offering
Memorandum and related notes thereto, the pro forma financial data included in the Company’s Form 8-K/A filed with the Commission on June 28, 2004 and related notes thereto incorporated by reference in the Preliminary Offering Memorandum and
the Offering Memorandum and the pro forma consolidated financial data set forth in the Preliminary Offering Memorandum and the Offering Memorandum under the caption “Selected historical and pro forma consolidated financial data” have been
prepared in accordance with the Commission’s rules and guidance with respect to pro forma financial information, and the assumptions underlying such pro forma financial information are reasonable. 
  
 (d) No Material Adverse Change. Since the date of the most recent
financial statements of the Company included or incorporated by reference in the Preliminary Offering Memorandum and the Offering Memorandum, (i) there has not been any change in the capital stock or long-term debt of the Company or any of its
subsidiaries (other than, with respect to long-term debt, the accrual of interest thereon and, with respect to capital stock, as a result of issuances pursuant to the Company’s employee benefit plans), or any dividend or distribution of any
kind declared, set aside for payment, paid or made by the Company on any class of capital stock (other than the regular quarterly dividend in the amount of $0.06 per common share paid on December 1, 2004 to stockholders of record on November 15,
2004), or any material adverse change, or any development involving a prospective material adverse change, in or affecting the business, properties, management, financial position, results of operations or prospects of the Company and its
subsidiaries taken as a whole; (ii) none of the Company, any of its subsidiaries nor The Armakleen Company, Alcad Partnership and Armand Products Company (collectively, the “Equity Investees”) has entered into any transaction or
agreement that is material to the Company and its subsidiaries taken as a whole or incurred any liability or obligation, direct or contingent, that is material to the Company and its subsidiaries taken as a whole; and (iii) neither the Company nor
any of its subsidiaries or Equity Investees has sustained any material loss or interference with its business from fire, explosion, flood or other calamity, whether or not covered by insurance, or from any labor disturbance or dispute or any action,
order or decree of any court or arbitrator or governmental or regulatory authority, except in each case as otherwise disclosed in the Preliminary Offering Memorandum and the Offering Memorandum. 
  
 (e) Organization and Good Standing. The Company and each of its
subsidiaries have been duly organized and are validly existing and in good standing under the laws of their respective jurisdictions of organization, are duly qualified to do business and are in good standing in each jurisdiction in which their
respective ownership or lease of property or the 

  

 4 

 
conduct of their respective businesses requires such qualification, and have all power and authority necessary to own or hold their respective properties and
to conduct the businesses in which they are engaged, except where the failure to be so qualified or have such power or authority would not, individually or in the aggregate, reasonably be expected to have a material adverse effect on the business,
properties, management, financial position, results of operations or prospects of the Company and its subsidiaries taken as a whole or on the performance by the Company and the Guarantor of their obligations under the Securities and the Guarantee (a
“Material Adverse Effect”). The Company has no subsidiaries other than the subsidiaries listed in Schedule 2 to this Agreement. 
  
 (f) Capitalization. The Company has an authorized capitalization as set forth in the Preliminary Offering Memorandum and the Offering Memorandum
under the heading “Capitalization”; and all the outstanding shares of capital stock or other equity interests of each subsidiary of the Company have been duly and validly authorized and issued, are fully paid and non-assessable (except, in
the case of any foreign subsidiary, for directors’ qualifying shares) and are owned directly or indirectly by the Company, free and clear of any lien, charge, encumbrance, security interest, restriction on voting or transfer or any other claim
of any third party other than liens, charges, encumbrances, security interests and restrictions under the Company’s existing credit facilities described in the Preliminary Offering Memorandum and the Offering Memorandum. 
  
 (g) Due Authorization. The Company and the Guarantor have all
requisite corporate power and authority to execute and deliver this Agreement, the Securities, the Indenture (including the Guarantee set forth therein), the Exchange Securities and the Registration Rights Agreement (collectively, the
“Transaction Documents”) and to perform their respective obligations hereunder and thereunder; and all action required to be taken for the due and proper authorization, execution and delivery of each of the Transaction Documents and
the consummation of the transactions contemplated thereby has been duly and validly taken. 
  
 (h) The Indenture. The Indenture has been duly authorized by the Company and the Guarantor and, when duly executed and delivered in accordance with its terms by each of the parties thereto, will constitute a
valid and legally binding agreement of the Company and the Guarantor enforceable against the Company and the Guarantor in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency or similar laws
affecting the enforcement of creditors’ rights generally or by equitable principles relating to enforceability (collectively, the “Enforceability Exceptions”); and on the Closing Date, the Indenture will conform in all material
respects to the requirements of the Trust Indenture Act of 1939, as amended (the “Trust Indenture Act”), and the rules and regulations of the Commission applicable to an indenture that is qualified thereunder. 
  
 (i) The Securities and the Guarantee. The Securities have been duly
authorized by the Company and, when duly executed, authenticated, issued and delivered to the Initial Purchasers as provided in the Indenture and paid for as provided herein, will constitute valid and legally binding obligations of the Company
enforceable against the Company in accordance with their terms, subject to the Enforceability Exceptions, and will be entitled to the benefits of the Indenture; and the Guarantee has been duly authorized by the Guarantor and, when the Securities
have been duly executed, authenticated, issued and delivered as provided in the Indenture and 

  

 5 

 
paid for as provided herein, will be valid and legally binding obligations of the Guarantor, enforceable against the Guarantor in accordance with their
terms, subject to the Enforceability Exceptions, and will be entitled to the benefits of the Indenture. 
  
 (j) The Exchange Securities. On the Closing Date, the Exchange Securities (including the related guarantee) will have been duly authorized by the
Company and the Guarantor and, when duly executed, authenticated, issued and delivered as described in the Registration Rights Agreement, will constitute valid and legally binding obligations of the Company, as issuer, and the Guarantor, as
guarantor, enforceable against the Company and the Guarantor in accordance with their terms, subject to the Enforceability Exceptions, and will be entitled to the benefits of the Indenture. 
  
 (k) Purchase and Registration Rights Agreements. This Agreement has
been duly authorized, executed and delivered by the Company and the Guarantor; and the Registration Rights Agreement has been duly authorized by the Company and the Guarantor and, when duly executed and delivered in accordance with its terms by each
of the parties thereto, will constitute a valid and legally binding agreement of the Company and the Guarantor enforceable against the Company and the Guarantor in accordance with its terms, subject to the Enforceability Exceptions, and except that
rights to indemnity and contribution thereunder may be limited by applicable law and public policy. 
  
 (l) Descriptions of the Transaction Documents. Each Transaction Document conforms in all material respects to the description thereof contained in
the Preliminary Offering Memorandum and the Offering Memorandum. 
  
 (m) No Violation or Default. Neither the Company nor any of its subsidiaries is (i) in violation of its charter or by-laws or similar organizational documents; (ii) in default, and no event has occurred that, with notice or lapse of
time or both, would constitute such a default, in the due performance or observance of any term, covenant or condition contained in any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which the Company or any
of its subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any of the property or assets of the Company or any of its subsidiaries is subject; or (iii) in violation of any law or statute or any judgment,
order, rule or regulation of any court or arbitrator or governmental or regulatory authority, except, in the case of clauses (ii) and (iii) above, for any such default or violation that would not, individually or in the aggregate, reasonably be
expected to have a Material Adverse Effect. 
  
 (n) No
Conflicts. The execution, delivery and performance by the Company and the Guarantor of each of the Transaction Documents to which each is a party, the issuance and sale of the Securities (including the Guarantee) and compliance by the Company
and the Guarantor with the terms thereof and the consummation of the transactions contemplated by the Transaction Documents will not (i) conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default
under, or result in the creation or imposition of any lien, charge or encumbrance upon any property or assets of the Company or any of its subsidiaries pursuant to, any indenture, mortgage, deed of trust, loan agreement or other agreement or
instrument to which the Company or any of its subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any of the property or assets of the 

  

 6 

 
Company or any of its subsidiaries is subject, (ii) result in any violation of the provisions of the charter or by-laws or similar organizational documents
of the Company or any of its subsidiaries or (iii) assuming the accuracy of the representations and warranties of the Initial Purchasers contained in Section 1(b) (including Annex A hereto) and their compliance with their agreements set forth
therein, compliance by the Initial Purchasers with the offering and transfer procedures and restrictions described in the Preliminary Offering Memorandum and the Offering Memorandum and the accuracy of the representations made to the Initial
Purchasers in accordance with the Preliminary Offering Memorandum and the Offering Memorandum by the purchasers to whom the Initial Purchasers initially resell the Securities, result in the violation of any law or statute or any judgment, order,
rule or regulation of any court or arbitrator or governmental or regulatory authority having jurisdiction over the Company or any of its subsidiaries, except, in the case of clauses (i) and (iii) above, for any such conflict, breach or violation
that would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 
  
 (o) No Consents Required. Assuming the accuracy of the representations and warranties of the Initial Purchasers contained in Section 1(b)
(including Annex A hereto) and their compliance with their agreements set forth herein, compliance by the Initial Purchasers with the offering and transfer procedures and restrictions described in the Preliminary Offering Memorandum and the Offering
Memorandum and the accuracy of the representations made to the Initial Purchasers in accordance with the Preliminary Offering Memorandum and the Offering Memorandum by the purchasers to whom the Initial Purchasers initially resell the Securities, no
consent, approval, authorization, order, registration or qualification of or with any court or arbitrator or governmental or regulatory authority is required for the execution, delivery and performance by the Company and the Guarantor of each of the
Transaction Documents to which each is a party, the issuance and sale of the Securities (including the Guarantee) and compliance by the Company and the Guarantor with the terms thereof and the consummation of the transactions contemplated by the
Transaction Documents, except for such consents, approvals, authorizations, orders and registrations or qualifications as may be required (i) under applicable state securities laws in connection with the purchase and resale of the Securities by the
Initial Purchasers and (ii) with respect to the Exchange Securities (including the related guarantees) under the Securities Act and applicable state securities laws as contemplated by the Registration Rights Agreement. 
  
 (p) Legal Proceedings. Except as described in the Preliminary Offering
Memorandum and the Offering Memorandum, there are no legal, governmental or regulatory investigations, actions, suits or proceedings pending to which the Company or any of its subsidiaries or Equity Investees is a party or to which any property of
the Company or any of its subsidiaries or Equity Investees is the subject that, individually or in the aggregate, if determined adversely to the Company or any of its subsidiaries or Equity Investees, would reasonably be expected to have a Material
Adverse Effect; and no such investigations, actions, suits or proceedings are, to the Company’s knowledge, threatened or contemplated by any governmental or regulatory authority or threatened by others. 
  
 (q) Independent Accountants. Deloitte & Touche LLP, who have
certified certain financial statements of the Company and its subsidiaries and of Armkel, LLC and its subsidiaries are independent public accountants with respect to the Company and its subsidiaries within the 

  

 7 

 
meaning of Rule 101 of the Code of Professional Conduct of the American Institute of Certified Public Accountants and its interpretations and rulings
thereunder. 
  
 (r) Title to Real and Personal Property.
The Company and its subsidiaries have good and marketable title in fee simple to, or have valid rights to lease or otherwise use, all items of real and personal property that are material to the respective businesses of the Company and its
subsidiaries, in each case free and clear of all liens, encumbrances, claims and defects and imperfections of title except those that (i) do not materially interfere with the use made and proposed to be made of such property by the Company and its
subsidiaries or (ii) would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect. 
  
 (s) Title to Intellectual Property. The Company and its subsidiaries own or possess adequate rights to use all material patents, patent
applications, trademarks, service marks, trade names, trademark registrations, service mark registrations, copyrights, licenses and know-how (including trade secrets and other unpatented and/or unpatentable proprietary or confidential information,
systems or procedures) necessary for the conduct of their respective businesses; and the conduct of their respective businesses will not conflict in any material respect with any such rights of others, and the Company and its subsidiaries have not
received any notice of any claim of infringement of or conflict with any such rights of others, except, in each case, where the failure to own or possess such rights or where any such conflict or infringement would not, individually or in the
aggregate, reasonably be expected to result in a Material Adverse Effect. 
  
 (t) Investment Company Act. Neither the Company nor any of its subsidiaries is, and after giving effect to the offering and sale of the Securities and the application of the proceeds thereof as described in the
Offering Memorandum none of them will be, an “investment company” or an entity “controlled” by an “investment company” within the meaning of the Investment Company Act of 1940, as amended, and the rules and regulations
of the Commission thereunder (collectively, “Investment Company Act”). 
  
 (u) Taxes. The Company and its subsidiaries have paid all federal, state, local and foreign taxes and filed all tax returns required to be paid or filed through the date hereof; and except as otherwise
disclosed in the Preliminary Offering Memorandum and the Offering Memorandum, except for taxes the failure of which to pay or tax returns the failure of which to file would not reasonably be expected to have a Material Adverse Effect and taxes being
contested in good faith by appropriate proceedings; and there is no material tax deficiency that has been, or would reasonably be expected to be, asserted against the Company or any of its subsidiaries or any of their respective properties or
assets, except as otherwise described in the Preliminary Offering Memorandum and the Offering Memorandum. 
  
 (v) Licenses and Permits. The Company and its subsidiaries possess all licenses, certificates, permits and other authorizations issued by, and have
made all declarations and filings with, the appropriate federal, state, local or foreign governmental or regulatory authorities that are necessary for the ownership or lease of their respective properties or the conduct of their respective
businesses as described in the Preliminary Offering Memorandum and the Offering Memorandum, except where the failure to possess or make the same would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect;
and except as described in the Preliminary Offering Memorandum and the Offering Memorandum, neither the 

  

 8 

 
Company nor any of its subsidiaries has received notice of any revocation or modification of any such license, certificate, permit or authorization or has
any reason to believe that any such license, certificate, permit or authorization will not be renewed in the ordinary course. 
  
 (w) No Labor Disputes. No labor disturbance by or dispute with employees of the Company or any of its subsidiaries exists or, to the best knowledge
of the Company and the Guarantor, is contemplated or threatened. 
  
 (x) Compliance With Environmental Laws. The Company and its subsidiaries (i) are in compliance with any and all applicable federal, state, local and foreign laws, rules, regulations, decisions and orders relating to the protection of
human health and safety, the environment or hazardous or toxic substances or wastes, pollutants or contaminants (collectively, “Environmental Laws”); (ii) have received and are in compliance with all permits, licenses or other
approvals required of them under applicable Environmental Laws to conduct their respective businesses; and (iii) have not received notice of any actual or potential liability for the investigation or remediation of any disposal or release of
hazardous or toxic substances or wastes, pollutants or contaminants, except in any such case for any such failure to comply with, or failure to receive required permits, licenses or approvals, or liability, as would not, individually or in the
aggregate, have a Material Adverse Effect. 
  
 (y) Compliance
With ERISA. Each employee benefit plan, within the meaning of Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), that is maintained, administered or contributed to by the Company or any of
its affiliates for employees or former employees of the Company and its affiliates has been maintained in compliance with its terms and the requirements of any applicable statutes, orders, rules and regulations, including but not limited to ERISA
and the Internal Revenue Code of 1986, as amended (the “Code”); no prohibited transaction, within the meaning of Section 406 of ERISA or Section 4975 of the Code, has occurred with respect to any such plan, excluding transactions
effected pursuant to a statutory or administrative exemption; and for each such plan that is subject to the funding rules of Section 412 of the Code or Section 302 of ERISA, no “accumulated funding deficiency” as defined in Section 412 of
the Code has been incurred, whether or not waived, and the fair market value of the assets of each such plan (excluding for these purposes accrued but unpaid contributions) exceeds the present value of all benefits accrued under such plan determined
using reasonable actuarial assumptions, except where the failure to so maintain an employee benefit plan, the occurrence of prohibited transactions, the occurrence of “accumulated funding deficiencies” and failure of the value of assets of
each such plan to exceed the present value of benefits accrued under such plan would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 
  
 (z) Accounting Controls. The Company and its subsidiaries maintain systems of internal accounting controls sufficient
to provide reasonable assurance that (i) transactions are executed in accordance with management’s general or specific authorizations; (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with
generally accepted accounting principles and to maintain asset accountability; (iii) access to assets is permitted only in accordance with management’s general or specific authorization; and (iv) the recorded accountability for assets is
compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences. 
  

 9 

 (aa) Insurance. The Company and its subsidiaries have insurance covering their respective
properties, operations, personnel and businesses, including business interruption insurance, which insurance is in amounts and insures against such losses and risks as are adequate to protect the Company and its subsidiaries and their respective
businesses; and neither the Company nor any of its subsidiaries has (i) received notice from any insurer or agent of such insurer that capital improvements or other expenditures are required or necessary to be made in order to continue such
insurance or (ii) any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage at reasonable cost from similar insurers as may be necessary to continue its
business. 
  
 (bb) No Unlawful Payments. Neither the
Company nor any of its subsidiaries nor, to the best knowledge of the Company and the Guarantor, any director, officer, agent, employee or other person associated with or acting on behalf of the Company or any of its subsidiaries has (i) used any
corporate funds for any unlawful contribution, gift, entertainment or other unlawful expense relating to political activity; (ii) made any direct or indirect unlawful payment to any foreign or domestic government official or employee from corporate
funds; (iii) violated or is in violation of any provision of the Foreign Corrupt Practices Act of 1977; or (iv) made any bribe, rebate, payoff, influence payment, kickback or other unlawful payment. 
  
 (cc) Solvency. On and immediately after the Closing Date, the Company
(after giving effect to the issuance of the Securities and the other transactions related thereto as described in the Offering Memorandum) will be Solvent. As used in this paragraph, the term “Solvent” means, with respect to a
particular date, that on such date (i) the present fair market value (or present fair saleable value) of the assets of the Company is not less than the total amount required to pay the liabilities of the Company on its total existing debts and
liabilities (including contingent liabilities) as they become absolute and matured; (ii) the Company is able to realize upon its assets and pay its debts and other liabilities, contingent obligations and commitments as they mature and become due in
the normal course of business; (iii) assuming consummation of the issuance of the Securities as contemplated by this Agreement and the Offering Memorandum, the Company is not incurring debts or liabilities beyond its ability to pay as such debts and
liabilities mature; (iv) the Company is not engaged in any business or transaction, and does not propose to engage in any business or transaction, for which its property would constitute unreasonably small capital after giving due consideration to
the prevailing practice in the industry in which the Company is engaged; and (v) the Company is not a defendant in any civil action that would reasonably be expected to result in a judgment that the Company is or would reasonably be expected to
become unable to satisfy. 
  
 (dd) No Restrictions on
Subsidiaries. Except as described in the Preliminary Offering Memorandum and the Offering Memorandum, no subsidiary of the Company is currently prohibited, directly or indirectly, under any agreement or other instrument to which it is a party or
is subject, from paying any dividends to the Company, from making any other distribution on such subsidiary’s capital stock to the Company (directly or indirectly), from repaying to the Company any loans or advances to such subsidiary from the
Company or from transferring any of such subsidiary’s properties or assets to the Company, other than the limitations that apply to the Company’s receivables subsidiary, Harrison Street Funding, LLC, contained in Section 1(n) of Exhibit IV
to the Receivables Purchase Agreement dated as of January 16, 2003 in connection with the Company’s receivables securitization financing. 
  

 10 

 (ee) No Broker’s Fees. Neither the Company nor any of its subsidiaries is a party to any
contract, agreement or understanding with any person (other than this Agreement) that would give rise to a valid claim against any of them or any Initial Purchaser for a brokerage commission, finder’s fee or like payment in connection with the
offering and sale of the Securities. 
  
 (ff) Rule 144A
Eligibility. On the Closing Date, the Securities will not be of the same class as securities listed on a national securities exchange registered under Section 6 of the Exchange Act or quoted in an automated inter-dealer quotation system; and
each of the Preliminary Offering Memorandum and the Offering Memorandum, as of its respective date, contains or will contain all the information that, if requested by a prospective purchaser of the Securities, would be required to be provided to
such prospective purchaser pursuant to Rule 144A(d)(4) under the Securities Act. 
  
 (gg) No Integration. Neither the Company nor any of its affiliates (as defined in Rule 501(b) of Regulation D) has, directly or through any agent, sold, offered for sale, solicited offers to buy or otherwise
negotiated in respect of, any security (as defined in the Securities Act), that is or will be integrated with the sale of the Securities in a manner that would require registration of the Securities under the Securities Act. 
  
 (hh) No General Solicitation or Directed Selling Efforts. None of the
Company or any of its affiliates or any other person acting on its or their behalf (other than the Initial Purchasers, as to which no representation is made) has (i) solicited offers for, or offered or sold, the Securities by means of any form of
general solicitation or general advertising within the meaning of Rule 502(c) of Regulation D or in any manner involving a public offering within the meaning of Section 4(2) of the Securities Act or (ii) engaged in any directed selling efforts
within the meaning of Regulation S under the Securities Act (“Regulation S”), and all such persons have complied with the offering restrictions requirement of Regulation S. 
  
 (ii) Securities Law Exemptions. Assuming the accuracy of the
representations and warranties of the Initial Purchasers contained in Section 1(b) (including Annex A hereto) and their compliance with their agreements set forth therein, compliance by the Initial Purchasers with the offering and transfer
procedures and restrictions described in the Preliminary Offering Memorandum and the Offering Memorandum and the accuracy of the representations made to the Initial Purchasers in accordance with the Preliminary Offering Memorandum and the Offering
Memorandum by the purchasers to whom the Initial Purchasers initially resell the Securities, it is not necessary, in connection with the issuance, offer and sale of the Securities to the Initial Purchasers and the initial offer, resale and delivery
of the Securities by the Initial Purchasers, in each case in the manner contemplated by this Agreement and the Offering Memorandum, to register the Securities under the Securities Act; and prior to the filing of the Exchange Offer Registration
Statement (as defined in the Registration Rights Agreement) or the filing of a shelf registration statement as contemplated by the Registration Rights Agreement, the Indenture is not required to be qualified under the Trust Indenture Act.

  
 (jj) No Stabilization. Neither the Company nor the
Guarantor has taken, directly or indirectly, any action designed to or that would reasonably be expected to cause or result in any stabilization or manipulation of the price of the Securities. 
  

 11 

 (kk) Margin Rules. Neither the issuance, sale and delivery of the Securities nor the application
of the proceeds thereof by the Company as described in the Offering Memorandum will violate Regulation T, U or X of the Board of Governors of the Federal Reserve System or any other regulation of such Board of Governors. 
  
 (ll) Forward-Looking Statements. No forward-looking statement (within
the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act) contained in the Preliminary Offering Memorandum and the Offering Memorandum has been made or reaffirmed without a reasonable basis or has been disclosed other
than in good faith. 
  
 (mm) Statistical and Market Data.
Nothing has come to the attention of the Company that has caused the Company to believe that the statistical and market-related data included or incorporated by reference in the Preliminary Offering Memorandum and the Offering Memorandum is not
based on or derived from sources that are reliable and accurate in all material respects. 
  
 (nn) Sarbanes-Oxley Act of 2002. The Company and, to the best knowledge of the Company, the Company’s directors and officers, in their capacities as such, are in compliance with the provisions of the
Sarbanes-Oxley Act of 2002 currently applicable to the Company. 
  
 4. Further Agreements of the Company and the Guarantor. The Company and the Guarantor jointly and severally covenant and agree with each Initial Purchaser that: 
  
 (a) Delivery of Copies. The Company will deliver to the Initial Purchasers as many copies of the Preliminary Offering
Memorandum and the Offering Memorandum (including all amendments and supplements thereto) as the Representative may reasonably request. 
  
 (b) Amendments or Supplements. Before making or distributing any amendment or supplement to the Preliminary Offering Memorandum or the Offering
Memorandum or filing with the Commission any document that will be incorporated by reference therein, the Company will furnish to the Representative and counsel for the Initial Purchasers a copy of the proposed amendment or supplement or document to
be incorporated by reference therein for review, and will not distribute any such proposed amendment or supplement or file any such document with the Commission to which the Representative reasonably objects. 
  
 (c) Notice to the Representative. The Company will advise the
Representative promptly, and confirm such advice in writing, (i) of the issuance by any governmental or regulatory authority of any order preventing or suspending the use of the Preliminary Offering Memorandum or the Offering Memorandum or the
initiation or threatening of any proceeding for that purpose; (ii) of the occurrence of any event at any time prior to the completion of the initial offering of the Securities as a result of which the Offering Memorandum as then amended or
supplemented would include any 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 existing when the Offering Memorandum is delivered to a
purchaser, not misleading; and (iii) of the receipt by the Company of any notice with respect to any suspension of the qualification of the Securities for offer and sale in any jurisdiction or the initiation or threatening of any proceeding for such
purpose; and the Company will use its reasonable best efforts to prevent the issuance of 

  

 12 

 
any such order preventing or suspending the use of the Preliminary Offering Memorandum or the Offering Memorandum or suspending any such qualification of the
Securities and, if any such order is issued, will obtain as soon as possible the withdrawal thereof. 
  
 (d) Ongoing Compliance of the Offering Memorandum. If at any time prior to the completion of the initial offering of the Securities (i) any event
shall occur or condition shall exist as a result of which the Offering Memorandum as then amended or supplemented would include any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements
therein, in the light of the circumstances existing when the Offering Memorandum is delivered to a purchaser, not misleading or (ii) it is necessary to amend or supplement the Offering Memorandum to comply with law, the Company will immediately
notify the Initial Purchasers thereof and forthwith prepare and, subject to paragraph (b) above, furnish to the Initial Purchasers such amendments or supplements to the Offering Memorandum (or any document to be filed with the Commission and
incorporated by reference therein) as may be necessary so that the statements in the Offering Memorandum as so amended or supplemented (or including such document to be incorporated by reference therein) will not, in the light of the circumstances
existing when the Offering Memorandum is delivered to a purchaser, be misleading or so that the Offering Memorandum will comply with law. 
  
 (e) Blue Sky Compliance. The Company will qualify the Securities for offer and sale under the securities or Blue Sky laws of such jurisdictions as
the Representative shall reasonably request and will continue such qualifications in effect so long as required for the offering and resale of the Securities; provided that neither the Company nor the Guarantor shall be required to (i)
qualify as a foreign corporation or other entity or as a dealer in securities in any such jurisdiction where it would not otherwise be required to so qualify, (ii) file any general consent to service of process in any such jurisdiction or (iii)
subject itself to taxation in any such jurisdiction if it is not otherwise so subject. 
  
 (f) Clear Market. During the period from the date hereof through and including the date that is 90 days after the date hereof, the Company and the Guarantor will not, without the prior written consent of the
Representative, offer, sell, contract to sell or otherwise dispose of any debt securities issued or guaranteed by the Company or the Guarantor and having a tenor of more than one year. 
  
 (g) Use of Proceeds. The Company will apply the net proceeds from the sale of the Securities as described in the
Offering Memorandum under the heading “Use of proceeds.” 
  
 (h) Supplying Information. While the Securities remain outstanding and are “restricted securities” within the meaning of Rule 144(a)(3) under the Securities Act, the Company and the Guarantor will, during any period in
which the Company is not subject to and in compliance with Section 13 or 15(d) of the Exchange Act, furnish to holders of the Securities and prospective purchasers of the Securities designated by such holders, upon the request of such holders or
such prospective purchasers, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act. 
  
 (i) PORTAL and DTC. The Company will assist the Initial Purchasers in arranging for the Securities to be designated Private Offerings, Resales and
Trading through Automated 

  

 13 

 
Linkages (“PORTAL”) Market securities in accordance with the rules and regulations adopted by the National Association of Securities
Dealers, Inc. (“NASD”) relating to trading in the PORTAL Market and for the Securities to be eligible for clearance and settlement through The Depository Trust Company (“DTC”). 
  
 (j) No Resales by the Company. Until the issuance of the Exchange
Securities, the Company will not, and will not permit any of its affiliates (as defined in Rule 144 under the Securities Act) to, resell any of the Securities that have been acquired by any of them, except for Securities purchased by the Company or
any of its affiliates and resold in a transaction registered under the Securities Act. 
  
 (k) No Integration. Neither the Company nor any of its affiliates (as defined in Rule 501(b) of Regulation D) will, directly or through any agent, sell, offer for sale, solicit offers to buy or otherwise
negotiate in respect of, any security (as defined in the Securities Act) that is or will be integrated with the sale of the Securities in a manner that would require registration of the Securities under the Securities Act. 
  
 (l) No General Solicitation or Directed Selling Efforts. None of the
Company or any of its affiliates or any other person acting on its or their behalf (other than the Initial Purchasers, as to which no covenant is given) will (i) solicit offers for, or offer or sell, the Securities by means of any form of general
solicitation or general advertising within the meaning of Rule 502(c) of Regulation D or in any manner involving a public offering within the meaning of Section 4(2) of the Securities Act or (ii) engage in any directed selling efforts within the
meaning of Regulation S, and all such persons will comply with the offering restrictions requirement of Regulation S. 
  
 (m) No Stabilization. Neither the Company nor the Guarantor will take, directly or indirectly, any action designed to or that would reasonably be
expected to cause or result in any stabilization or manipulation of the price of the Securities. 
  
 5. Conditions of Initial Purchasers’ Obligations. The obligation of each Initial Purchaser to purchase Securities on the Closing Date as
provided herein is subject to the performance by the Company and the Guarantor of their respective covenants and other obligations hereunder and to the following additional conditions: 
  
 (a) Representations and Warranties. The representations and warranties of the Company and the Guarantor contained
herein shall be true and correct on the date hereof and on and as of the Closing Date; and the statements of the Company, the Guarantor and their respective officers made in any certificates delivered pursuant to this Agreement shall be true and
correct on and as of the Closing Date. 
  
 (b) No
Downgrade. Subsequent to the execution and delivery of this Agreement, (i) no downgrading shall have occurred in the rating accorded the Securities or any other debt securities or preferred stock issued or guaranteed by the Company or the
Guarantor by any “nationally recognized statistical rating organization,” as such term is defined by the Commission for purposes of Rule 436(g)(2) under the Securities Act; and (ii) no such organization shall have publicly announced that
it has under surveillance or review, or has changed its outlook with respect to, its rating of the Securities or of any other debt securities or preferred stock issued or 

  

 14 

 
guaranteed by the Company or the Guarantor (other than an announcement with positive implications of a possible upgrading). 
  
 (c) No Material Adverse Change. Subsequent to the execution and
delivery of this Agreement, no event or condition of a type described in Section 3(d) hereof shall have occurred or shall exist, which event or condition is not described in the Offering Memorandum (excluding any amendment or supplement thereto or
any document filed with the Commission after the date hereof and incorporated by reference therein) and the effect of which in the judgment of the Representative makes it impracticable or inadvisable to proceed with the offering, sale or delivery of
the Securities on the terms and in the manner contemplated by this Agreement and the Offering Memorandum. 
  
 (d) Officer’s Certificate. The Representative shall have received on and as of the Closing Date a certificate of an executive officer of the
Company and of each Guarantor who has specific knowledge of the Company’s or such Guarantor’s financial matters and is satisfactory to the Representative (i) confirming that such officer has carefully reviewed the Offering Memorandum and,
to the best knowledge of such officer, the representation set forth in Section 3(a) hereof is true and correct, (ii) confirming that the other representations and warranties of the Company and the Guarantor in this Agreement are true and correct and
that the Company and the Guarantor have complied with all agreements and satisfied all conditions on their part to be performed or satisfied hereunder at or prior to the Closing Date and (iii) to the effect set forth in paragraphs (b) and (c) above.

  
 (e) Comfort Letters. On the date of this Agreement and
on the Closing Date, Deloitte & Touche LLP shall have furnished to the Representative, at the request of the Company, letters, dated the respective dates of delivery thereof and addressed to the Initial Purchasers, in form and substance
reasonably satisfactory to the Representative, containing statements and information of the type customarily included in accountants’ “comfort letters” to underwriters with respect to the financial statements and certain financial
information contained in the Preliminary Offering Memorandum and the Offering Memorandum; provided that the letter delivered on the Closing Date shall use a “cut-off” date no more than three business days prior to the Closing Date.

  
 (f) Opinion of Internal Counsel for the Company. Susan
Goldy, Vice President and General Counsel of the Company, shall have furnished to the Representative, her written opinion, dated the Closing Date and addressed to the Initial Purchasers, in form and substance reasonably satisfactory to the
Representative, to the effect set forth in Annex B hereto. 
  
 (g)
Opinion of Outside Counsel for the Company. Morgan, Lewis & Bockius LLP, counsel for the Company, shall have furnished to the Representative, at the request of the Company, their written opinion, dated the Closing Date and addressed to
the Initial Purchasers, in form and substance reasonably satisfactory to the Representative, to the effect set forth in Annex C hereto. 
  
 (h) Opinion of Wyoming Counsel for the Company. Hathaway & Kunz, Wyoming counsel for the Company, shall have furnished to the Representative,
at the request of the Company, their written opinion, dated the Closing Date and addressed to the Initial Purchasers, 

  

 15 

 
in form and substance reasonably satisfactory to the Representative, to the effect set forth in Annex D hereto. 
  
 (i) Opinion of Counsel for the Initial Purchasers. The Representative
shall have received on and as of the Closing Date an opinion of Simpson Thacher & Bartlett LLP, counsel for the Initial Purchasers, with respect to such matters as the Representative may reasonably request, and such counsel shall have received
such documents and information as they may reasonably request to enable them to pass upon such matters. 
  
 (j) No Legal Impediment to Issuance. No action shall have been taken and no statute, rule, regulation or order shall have been enacted, adopted or
issued by any federal, state or foreign governmental or regulatory authority that would, as of the Closing Date, prevent the issuance or sale of the Securities or the issuance of the Guarantee; and no injunction or order of any federal, state or
foreign court shall have been issued that would, as of the Closing Date, prevent the issuance or sale of the Securities or the issuance of the Guarantee. 
  
 (k) Good Standing. The Representative shall have received on and as of the Closing Date satisfactory evidence of the good standing of the Company
and the Guarantor in their respective jurisdictions of organization and their good standing in such other jurisdictions as the Representative may reasonably request, in each case in writing or any standard form of telecommunication, from the
appropriate governmental authorities of such jurisdictions. 
  
 (l) Registration Rights Agreement. The Initial Purchasers shall have received a counterpart of the Registration Rights Agreement that shall have been executed and delivered by a duly authorized officer of the Company and the
Guarantor. 
  
 (m) PORTAL and DTC. The Securities shall
have been approved by the NASD for trading in the PORTAL Market and shall be eligible for clearance and settlement through DTC. 
  
 (n) Additional Documents. On or prior to the Closing Date, the Company and the Guarantor shall have furnished to the Representative such further
certificates and documents as the Representative may reasonably request. 
  
 All opinions, letters, certificates and evidence mentioned above or elsewhere in this Agreement shall be deemed to be in compliance with the provisions hereof only if they are in form and substance reasonably
satisfactory to counsel for the Initial Purchasers. 
  
 6.
Indemnification and Contribution. 
  
 (a)
Indemnification of the Initial Purchasers. The Company and the Guarantor jointly and severally agree to indemnify and hold harmless each Initial Purchaser, its affiliates, directors and officers and each person, if any, who controls such
Initial Purchaser within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, from and against any and all losses, claims, damages and liabilities (including, without limitation, reasonable legal fees and other expenses
incurred in connection with any suit, action or proceeding or any claim asserted, as such fees and expenses are incurred), joint or several, that arise out of, or are based upon, any untrue statement or alleged untrue statement of a material fact
contained in the Preliminary Offering Memorandum or the Offering Memorandum (or any amendment or supplement thereto) 

  

 16 

 
or any omission or alleged omission to state therein a material fact necessary in order to make the statements therein, in the light of the circumstances
under which they were made, not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are based upon, any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in
conformity with any information relating to any Initial Purchaser furnished to the Company in writing by such Initial Purchaser either directly or through the Representative expressly for use therein; provided, that with respect to any such
actual or alleged untrue statement in or omission from the Preliminary Offering Memorandum, the indemnity agreement contained in this paragraph (a) shall not inure to the benefit of any Initial Purchaser to the extent that the sale to the person
asserting any such loss, claim, damage or liability was an initial resale by such Initial Purchaser and any such loss, claim, damage or liability of or with respect to such Initial Purchaser results from the fact that both (i) a copy of the Offering
Memorandum (excluding any documents incorporated by reference therein) was not sent or given to such person at or prior to the written confirmation of the sale of such Securities to such person and (ii) the untrue statement in or omission from such
Preliminary Offering Memorandum was corrected in the Offering Memorandum unless, in either case, such failure to deliver the Offering Memorandum was a result of non-compliance by the Company with the provisions of Section 4 hereof. 
  
 (b) Indemnification of the Company. Each Initial Purchaser agrees,
severally and not jointly, to indemnify and hold harmless the Company, the Guarantor, each of their officers and directors, and each person, if any, who controls the Company or any of the Guarantor within the meaning of Section 15 of the Securities
Act or Section 20 of the Exchange Act to the same extent as the indemnity set forth in paragraph (a) above, but only with respect to any losses, claims, damages or liabilities that arise out of, or are based upon, any untrue statement or omission or
alleged untrue statement or omission made in reliance upon and in conformity with any information relating to such Initial Purchaser furnished to the Company in writing by such Initial Purchaser either directly or through the Representative
expressly for use in the Preliminary Offering Memorandum and the Offering Memorandum (or any amendment or supplement thereto), it being understood and agreed that the only such information consists of the following: the third paragraph, the fifth
and sixth sentences of the eighth paragraph and the tenth paragraph under the heading “Plan of Distribution.” 
  
 (c) Notice and Procedures. 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 indemnification may be sought pursuant to either paragraph (a) or (b) above, such person (the “Indemnified Person”) shall promptly notify the person against whom such
indemnification may be sought (the “Indemnifying Person”) in writing; provided that the failure to notify the Indemnifying Person shall not relieve it from any liability that it may have under this Section 6 except to the extent
that it has been materially prejudiced (through the forfeiture of substantive rights or defenses) by such failure; and provided, further, that the failure to notify the Indemnifying Person shall not relieve it from any liability that
it may have to an Indemnified Person otherwise than under this Section 6. If any such proceeding shall be brought or asserted against an Indemnified Person and it shall have notified the Indemnifying Person thereof, the Indemnifying Person shall
retain counsel reasonably satisfactory to the Indemnified Person to represent the Indemnified Person and any others entitled to indemnification pursuant to this Section 6 that the Indemnifying Person may designate in such proceeding and shall pay
the reasonable fees and expenses of such counsel related to such proceeding, as incurred. In any such proceeding, any 

  

 17 

 
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;
(iii) the Indemnified Person shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the Indemnifying Person; or (iv) 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 and agreed 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 any Initial Purchaser, its affiliates, directors and officers and any control persons of such Initial Purchaser shall
be designated in writing by J.P. Morgan Securities Inc., and any such separate firm for the Company, the Guarantor, their officers and directors and any control persons of the Company and the Guarantor shall be designated in writing by the Company.
The Indemnifying Person shall not be liable for any settlement of any proceeding effected without its written consent (which consent shall not be unreasonably withheld), but if settled with such consent or if there be a final judgment for the
plaintiff, the Indemnifying Person agrees to indemnify each Indemnified Person from and against any loss or liability by reason of such settlement or judgment. No Indemnifying Person shall, without the 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 indemnification could have been sought hereunder by such Indemnified Person, unless such settlement (x)
includes an unconditional release of such Indemnified Person, in form and substance reasonably satisfactory to such Indemnified Person, from all liability on claims that are the subject matter of such proceeding and (y) does not include any
statement as to or any admission of fault, culpability or a failure to act by or on behalf of any Indemnified Person. 
  
 (d) Contribution. If the indemnification provided for in paragraphs (a) and (b) above is unavailable to an Indemnified Person or insufficient in
respect of any losses, claims, damages or liabilities 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 the Guarantor, on the one hand, and the Initial Purchasers, on the
other hand, from the offering of the Securities or (ii) if the allocation provided by clause (i) is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) but also
the relative fault of the Company and the Guarantor, on the one hand, and the Initial Purchasers, on the other hand, in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other
relevant equitable considerations. The relative benefits received by the Company and the Guarantor, on the one hand, and the Initial Purchasers, on the other hand, shall be deemed to be in the same respective proportions as the net proceeds (before
deducting expenses) received by the Company from the sale of the Securities 

  

 18 

 
and the total discounts and commissions received by the Initial Purchasers in connection therewith, as provided in this Agreement, bear to the aggregate
offering price of the Securities. The relative fault of the Company and the Guarantor on the one hand and the Initial Purchasers on the other shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of
a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company or the Guarantor or by the Initial Purchasers and the parties’ relative intent, knowledge, access to information and
opportunity to correct or prevent such statement or omission. 
  
 (e) Limitation on Liability. The Company, the Guarantor and the Initial Purchasers agree that it would not be just and equitable if contribution pursuant to this Section 6 were determined by pro rata allocation (even if
the Initial Purchasers 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 paragraph (d) above. The amount paid or payable by an Indemnified
Person as a result of the losses, claims, damages and liabilities referred to in paragraph (d) above shall be deemed to include, subject to the limitations set forth above, any reasonable legal or other expenses incurred by such Indemnified Person
in connection with any such action or claim. Notwithstanding the provisions of this Section 6, in no event shall an Initial Purchaser be required to contribute any amount in excess of the amount by which the total discounts and commissions received
by such Initial Purchaser with respect to the offering of the Securities exceeds the amount of any damages that such Initial Purchaser 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 Initial
Purchasers’ obligations to contribute pursuant to this Section 6 are several in proportion to their respective purchase obligations hereunder and not joint. 
  
 (f) Non-Exclusive Remedies. The remedies provided for in this Section 6 are not exclusive and shall not limit any
rights or remedies that may otherwise be available to any Indemnified Person at law or in equity. 
  
 7. Termination. This Agreement may be terminated in the absolute discretion of the Representative, by notice to the Company, 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 the New York Stock Exchange or the over-the-counter market; (ii) trading of any securities issued or guaranteed by
the Company or the Guarantor shall have been suspended on any exchange or in any over-the-counter market; (iii) a general moratorium on commercial banking activities shall have been declared by federal or New York State authorities; or (iv) there
shall have occurred any outbreak or escalation of hostilities or any change in financial markets or any calamity or crisis, either within or outside the United States, that, in the reasonable judgment of the Representative, is material and adverse
and makes it impracticable or inadvisable to proceed with the offering, sale or delivery of the Securities on the terms and in the manner contemplated by this Agreement and the Offering Memorandum. 
  
 8. Defaulting Initial Purchaser. (a) If, on the Closing Date, any
Initial Purchaser defaults on its obligation to purchase the Securities that it has agreed to purchase hereunder, the 

  

 19 

 
non-defaulting Initial Purchasers may in their discretion arrange for the purchase of such Securities by other persons satisfactory to the Company on the
terms contained in this Agreement. If, within 36 hours after any such default by any Initial Purchaser, the non-defaulting Initial Purchasers do not arrange for the purchase of such Securities, then the Company shall be entitled to a further period
of 36 hours within which to procure other persons satisfactory to the non-defaulting Initial Purchasers to purchase such Securities on such terms. If other persons become obligated or agree to purchase the Securities of a defaulting Initial
Purchaser, either the non-defaulting Initial Purchasers or the Company may postpone the Closing Date for up to five full business days in order to effect any changes that in the opinion of counsel for the Company or counsel for the Initial
Purchasers may be necessary in the Offering Memorandum or in any other document or arrangement, and the Company agrees to promptly prepare any amendment or supplement to the Offering Memorandum that effects any such changes. As used in this
Agreement, the term “Initial Purchaser” includes, for all purposes of this Agreement unless the context otherwise requires, any person not listed in Schedule 1 hereto that, pursuant to this Section 8, purchases Securities that a defaulting
Initial Purchaser agreed but failed to purchase. 
  
 (b) If, after
giving effect to any arrangements for the purchase of the Securities of a defaulting Initial Purchaser or Initial Purchasers by the non-defaulting Initial Purchasers and the Company as provided in paragraph (a) above, the aggregate principal amount
of such Securities that remains unpurchased does not exceed one-eleventh of the aggregate principal amount of all the Securities, then the Company shall have the right to require each non-defaulting Initial Purchaser to purchase the principal amount
of Securities that such Initial Purchaser agreed to purchase hereunder plus such Initial Purchaser’s pro rata share (based on the principal amount of Securities that such Initial Purchaser agreed to purchase hereunder) of the
Securities of such defaulting Initial Purchaser or Initial Purchasers for which such arrangements have not been made. 
  
 (c) If, after giving effect to any arrangements for the purchase of the Securities of a defaulting Initial Purchaser or Initial Purchasers by the
non-defaulting Initial Purchasers and the Company as provided in paragraph (a) above, the aggregate principal amount of such Securities that remains unpurchased exceeds one-eleventh of the aggregate principal amount of all the Securities, or if the
Company shall not exercise the right described in paragraph (b) above, then this Agreement shall terminate without liability on the part of the non-defaulting Initial Purchasers. Any termination of this Agreement pursuant to this Section 8 shall be
without liability on the part of the Company or the Guarantor, except that the Company and the Guarantor will continue to be liable for the payment of expenses as set forth in Section 9 hereof and except that the provisions of Section 6 hereof shall
not terminate and shall remain in effect. 
  
 (d) Nothing
contained herein shall relieve a defaulting Initial Purchaser of any liability it may have to the Company, the Guarantor or any non-defaulting Initial Purchaser for damages caused by its default. 
  
 9. Payment of Expenses. (a) Whether or not the transactions
contemplated by this Agreement are consummated or this Agreement is terminated, the Company and each of the Guarantor jointly and severally agree to pay or cause to be paid all costs and expenses incident to the performance of their respective
obligations hereunder, including without limitation, (i) the 

  

 20 

 
costs incident to the authorization, issuance, sale, preparation and delivery of the Securities and any taxes payable in that connection; (ii) the costs
incident to the preparation and printing of the Preliminary Offering Memorandum and the Offering Memorandum (including any amendment or supplement thereto) and the distribution thereof; (iii) the costs of reproducing and distributing each of the
Transaction Documents; (iv) the fees and expenses of the Company’s and the Guarantor’s counsel and independent accountants; (v) the fees and expenses incurred in connection with the registration or qualification and determination of
eligibility for investment of the Securities under the laws of such jurisdictions as the Representative may designate and the preparation, printing and distribution of a Blue Sky Memorandum (including the related fees and expenses of counsel for the
Initial Purchasers up to an aggregate of $7,500); (vi) any fees charged by rating agencies for rating the Securities; (vii) the fees and expenses of the Trustee and any paying agent (including related fees and expenses of any counsel to such
parties); (viii) all expenses and application fees incurred in connection with the application for the inclusion of the Securities on the PORTAL Market and the approval of the Securities for book-entry transfer by DTC; and (ix) all expenses incurred
by the Company in connection with any “road show” presentation to potential investors. 
  
 (b) If (i) this Agreement is terminated pursuant to Section 7, (ii) the Company for any reason fails to tender the Securities for delivery to the Initial
Purchasers or (iii) the Initial Purchasers decline to purchase the Securities for any reason permitted under this Agreement, the Company and the Guarantor jointly and severally agrees to reimburse the Initial Purchasers for all out-of-pocket costs
and expenses (including the reasonable fees and expenses of their counsel) reasonably incurred by the Initial Purchasers in connection with this Agreement and the offering contemplated hereby. 
  
 10. Persons Entitled to Benefit of Agreement. This Agreement shall
inure to the benefit of and be binding upon the parties hereto and their respective successors and any controlling persons referred to herein, the officers and directors of the Company and the Guarantor and the affiliates, officers and directors of
each Initial Purchaser referred to in Section 6 hereof. Nothing in this Agreement is intended or shall be construed to give any other person any legal or equitable right, remedy or claim under or in respect of this Agreement or any provision
contained herein. No purchaser of Securities from any Initial Purchaser shall be deemed to be a successor merely by reason of such purchase. 
  
 11. Survival. The respective indemnities, rights of contribution, representations, warranties and agreements of the Company, the Guarantor and the
Initial Purchasers contained in this Agreement or made by or on behalf of the Company, the Guarantor or the Initial Purchasers pursuant to this Agreement or any certificate delivered pursuant hereto shall survive the delivery of and payment for the
Securities and shall remain in full force and effect, regardless of any termination of this Agreement or any investigation made by or on behalf of the Company, the Guarantor or the Initial Purchasers. 
  
 12. Certain Defined Terms. For purposes of this Agreement, (a) except
where otherwise expressly provided, the term “affiliate” has the meaning set forth in Rule 405 under the Securities Act; (b) the term “business day” means any day other than a day on which banks are permitted or required to be
closed in New York City; (c) the term “Exchange Act” means the Securities Exchange Act of 1934, as amended; and (d) the term “subsidiary” has the meaning set 

  

 21 

 
forth in Rule 405 under the Securities Act; provided that for purposes of this Agreement, the Equity Investees are not “subsidiaries.”

  
 13. Miscellaneous. (a) Authority of the
Representative. Any action by the Initial Purchasers hereunder may be taken by J.P. Morgan Securities Inc. on behalf of the Initial Purchasers, and any such action taken by J.P. Morgan Securities Inc. shall be binding upon the Initial
Purchasers. 
  
 (b) Notices. All notices and other
communications hereunder shall be in writing and shall be deemed to have been duly given if mailed or transmitted and confirmed by any standard form of telecommunication. Notices to the Initial Purchasers shall be given to the Representative c/o
J.P. Morgan Securities Inc., 270 Park Avenue, New York, New York 10017 (fax: (212) 270-1063); Attention: Brian Tramontozzi. Notices to the Company and the Guarantor shall be given to them at Church & Dwight Co., Inc., 469 North Harrison Street,
Princeton, New Jersey 08543 (fax: (609) 497-7177); Attention: Susan Goldy, Vice President and General Counsel. 
  
 (c) Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York. 
  
 (d) Counterparts. This Agreement may be signed in counterparts (which
may include counterparts delivered by any standard form of telecommunication), each of which shall be an original and all of which together shall constitute one and the same instrument. 
  
 (e) Amendments or Waivers. No amendment or waiver of any provision of this Agreement, nor any consent or approval to
any departure therefrom, shall in any event be effective unless the same shall be in writing and signed by the parties hereto. 
  
 (f) Headings. The headings herein are included for convenience of reference only and are not intended to be part of, or to affect the meaning or
interpretation of, this Agreement. 
  

 22 

 If the foregoing is in accordance with your understanding, please indicate your acceptance of this
Agreement by signing in the space provided below. 
  

					
	
	 Very truly yours,

	
	 CHURCH & DWIGHT CO., INC.

		
	By:	 	/s/    ZVI
EIREF        
	 Name:
	 	 	 	Zvi Eiref
	 Title:
	 	 	 	Vice President Finance and Chief Financial Officer

  

					
	
	 CHURCH & DWIGHT COMPANY

		
	 By:
	 	/s/    ZVI
EIREF        
	 Name:
	 	 	 	Zvi Eiref
	 Title:
	 	 	 	Vice President

  

 23 

 Accepted: December 15, 2004 
  

			
	J.P. MORGAN SECURITIES INC.
	
	For itself and on behalf of the several Initial Purchasers listed in Schedule 1 hereto.
		
	By	 	/s/    CLAUDETTE KRAUS        
	 	 	Authorized Signatory

  

 24 

  
 Schedule 1 

 

				
	 Initial Purchaser

	  	Principal Amount

	 J.P. Morgan Securities Inc.
	  	$	150,000,000
	 Citigroup Global Markets Inc.
	  	 	75,000,000
	 PNC Capital Markets, Inc.
	  	 	7,500,000
	 Scotia Capital (USA) Inc.
	  	 	6,250,000
	 NatCity Investments, Inc.
	  	 	6,250,000
	 Mitsubishi Securities International plc
	  	 	5,000,000
	 	  	
	

	 Total
	  	$	250,000,000

  

 25 

  
 Schedule 2 

 
 Subsidiaries of the Company 
  

			
	 Name

	  	 Jurisdiction of Organization

	 Domestic Subsidiaries
	  	 
		
	 C&D Detergents, Inc.
	  	Delaware
	 Church & Dwight Technologies, Inc.
	  	Delaware
	 Church & Dwight Company
	  	Wyoming
	 Big Cloud Powder Corporation
	  	Delaware
	 Chicago Contract Powder Corporation
	  	Illinois
	 Chicago Management Powder Corporation
	  	Delaware
	 Dewitt International Corporation
	  	Delaware
	 C&D Chemical Products, Inc.
	  	Delaware
	 Harrison Street Funding, LLC
	  	Delaware
	 Alcad Partnership
	  	Delaware
	 Armus, LLC
	  	Delaware
	 Armkel Finance, Inc.
	  	Delaware
	 Armkel Condoms, LLC
	  	Delaware
	 Armkel Cranbury, LLC
	  	Delaware
	 Armkel Dentures, LLC
	  	Delaware
	 Armkel Depilatories, LLC
	  	Delaware
	 Armkel Diagnostics, LLC
	  	Delaware
	 Armkel Drops, LLC
	  	Delaware
	 Armkel Products, LLC
	  	Delaware
		
	 Foreign Subsidiaries
	  	 
		
	 Church & Dwight do Brasil Ltda.
	  	Brazil
	 Brotherton Specialty Products Limited
	  	United Kingdom
	 QGN Participações S.A.
	  	Brazil
	 Química Geral do Nordeste S.A.
	  	Brazil
	 Church & Dwight Ltda.
	  	Brazil
	 Armkel Holding (Netherlands) B.V.
	  	The Netherlands
	 Armkel Canada (Netherlands) B.V.
	  	The Netherlands
	 Church & Dwight Canada Corp.
	  	Canada
	 Horner Pharmaceuticals Inc.
	  	Canada
	 Church & Dwight S. de R.L. de C.V.
	  	Mexico
	 Carter Products (Australia) Pty Ltd
	  	Australia
	 CWA Superannuation Pty Ltd
	  	Australia
	 Armkel Company (U.K.) Limited
	  	United Kingdom
	 Church & Dwight UK Limited
	  	United Kingdom
	 Denver Laboratories Limited
	  	United Kingdom

  

 26 

			
	 Name

	  	Jurisdiction of Organization

	 Armkel Company (Spain) S.L.
	  	Spain
	 Icart, S.A.
	  	Spain
	 Armkel Company (France) S.A.S.
	  	France
	 Sofibel S.A.S.
	  	France
	 Armkel (Cayman) Ltd.
	  	Cayman Islands
	 Karlan International S.A.
	  	Luxembourg
	 Teutonia beteiligungsverwaltung G.m.b.H.
	  	Germany
	 Carter Products (Hong Kong) Limited
	  	Hong Kong
	 Carter Products (N.Z.) Inc.
	  	New Zealand
	 Church & Dwight Foreign Sales Corporation
	  	Guam
	 Carter-Horner Corp.
	  	Nova Scotia, Canada
	 Laboratories Santé Beauté, S.A.S.
	  	France
	 Laboratories Fumouze S.A.S.
	  	France
	 Carter Products Ltd.
	  	United Kingdom

  

 27 

  
 Annex A 
  
 Restrictions on Offers and Sales Outside the United States 

 
 In connection with offers and sales of Securities outside the United
States: 
  
 (a) Each Initial Purchaser acknowledges that the
Securities have not been 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 pursuant to an exemption from, or in transactions not subject to, the
registration requirements of the Securities Act. 
  
 (b) Each
Initial Purchaser, severally and not jointly, represents, warrants and agrees that: 
  
 (i) Such Initial Purchaser has offered and sold the Securities, and will offer and sell the Securities, (A) as part of their distribution
at any time and (B) otherwise until 40 days after the later of the commencement of the offering of the Securities and the Closing Date, only in accordance with Regulation S under the Securities Act (“Regulation S”) or Rule 144A or any
other available exemption from registration under the Securities Act. 
  
 (ii) None of such Initial Purchaser or any of its affiliates or any other person acting on its or their behalf has engaged or will engage in any directed selling efforts with respect to the Securities, and all such
persons have complied and will comply with the offering restrictions requirement of Regulation S. 
  
 (iii) At or prior to the confirmation of sale of any Securities sold in reliance on Regulation S, such Initial Purchaser will have sent to
each distributor, dealer or other person receiving a selling concession, fee or other remuneration that purchase Securities from it during the distribution compliance 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 or 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 of the Securities and the date of original issuance of the Securities, except in accordance with Regulation S or Rule 144A or any other available exemption from registration under the
Securities Act. Terms used above have the meanings given to them by Regulation S.” 
  
 (iv) Such Initial Purchaser has not and will not enter into any contractual arrangement with any distributor with respect to the
distribution of the Securities, except with its affiliates or with the prior written consent of the Company. 
  

 28 

 Terms used in paragraph (a) and this paragraph (b) and not otherwise defined in this Agreement have the meanings given to
them by Regulation S. 
  
 (c) Each Initial Purchaser, severally
and not jointly, represents, warrants and agrees that: 
  
 (i) it has not offered or sold and, prior to the date six months after the Closing Date, will not offer or sell any Securities to persons in the United Kingdom 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 businesses 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
United Kingdom Public Offers of Securities Regulations 1995 (as amended); 
  
 (ii) it has only communicated or caused to be communicated and will only communicate or cause to be communicated any invitation or inducement to engage in investment activity (within the meaning of Section 21 of the
United Kingdom Financial Services and Markets Act 2000 (the “FSMA”)) received by it in connection with the issue or sale of any Securities in circumstances in which Section 21(1) of the FSMA does not apply to the Company or the Guarantor;
and 
  
 (iii) it has complied and will comply
with all applicable provisions of the FSMA with respect to anything done by it in relation to the Securities in, from or otherwise involving the United Kingdom. 
  

(d) Each Initial Purchaser acknowledges that no action has been or will be taken by the Company that would permit a public offering of the Securities,
or possession or distribution of the Preliminary Offering Memorandum, the Offering Memorandum or any other offering or publicity material relating to the Securities, in any country or jurisdiction where action for that purpose is required.

  

 29 

  
 Annex B 
  
 Form of Opinion of General Counsel to the Company 
  
 (a) Based solely upon the inspection of applicable good standing certificates
and foreign qualification certifications relating to each entity, the Company and the Guarantor are in good standing in each jurisdiction set forth in a schedule reasonably acceptable to counsel to the Initial Purchasers. 
  
 (b) The execution, delivery and performance by the Company and the Guarantor
of each of the Transaction Documents to which each is a party, the issuance and sale of the Securities (including the Guarantee) and compliance by the Company and the Guarantor with the terms thereof and the consummation of the transactions
contemplated by the Transaction Documents will not (i) conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, or result in the creation or imposition of any lien, charge or encumbrance
upon any property or assets of the Company or any of its subsidiaries pursuant to, any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument known to such counsel to which the Company or any of its subsidiaries is a
party or by which the Company or any of its subsidiaries is bound or to which any of the property or assets of the Company or any of its subsidiaries is subject or (ii) result in any violation of the provisions of the charter or by-laws of the
Company, except, in the case of clause (i) above, for any such conflict, breach or violation that would not, individually or in the aggregate, have a Material Adverse Effect. 
  
 (c) To the knowledge of such counsel, except as described in the Offering Memorandum, there are no legal, governmental or
regulatory investigations, actions, suits or proceedings pending in or by any governmental or regulatory agency, authority or instrumentality or court or arbitrator (a “Covered Agency”) to which the Company or any of its
subsidiaries is or may be a party or to which any property of the Company or any of its subsidiaries is or may be the subject that, individually or in the aggregate, if determined adversely to the Company or any of its subsidiaries, would reasonably
be expected to have a Material Adverse Effect; and, to the knowledge of such counsel, no such investigations, actions, suits or proceedings are threatened or contemplated by any Covered Agency or threatened by others. 
  
 (d) The descriptions in the Offering Memorandum of legal proceedings and
contracts and other documents under the headings “Business – Legal proceedings” and “Description of other indebtedness” are accurate in all material respects. 
  
 In rendering such opinion, such counsel may rely as to matters of fact on certificates of responsible officers of the
Company and the Guarantor and public officials that are furnished to the Initial Purchasers. 
  
 The opinion of the Vice President and General Counsel of the Company described above shall be rendered to the Initial Purchasers at the request of the Company and shall so state therein. 
  

 30 

  
 Annex C 
  
 Form of Opinion of Morgan, Lewis & Bockius LLP 
  
 (a) The Company is validly existing and in good standing under the laws of
the State of Delaware and has the requisite corporate power and authority necessary to own or hold its properties and to conduct its business as described in the Offering Memorandum. 
  
 (b) The Company’s authorized capital stock is as set forth in the Offering Memorandum under the heading
“Capitalization.” 
  
 (c) The Company has the requisite
corporate power to execute and deliver each of the Transaction Documents and to perform its obligations thereunder. 
  
 (d) The Indenture has been duly authorized, executed and delivered by the Company and, assuming due execution and delivery thereof by the Trustee,
constitutes a valid and legally binding agreement of the Company and the Guarantor enforceable against the Company and the Guarantor in accordance with its terms, subject to the Enforceability Exceptions; and the Indenture conforms in all material
respects with the requirements of the Trust Indenture Act and the rules and regulations of the Commission applicable to an indenture that is qualified thereunder. 
  
 (e) The Securities have been duly authorized and executed by the Company and, when duly authenticated as provided in the
Indenture and paid for as provided in this Agreement and delivered to the Initial Purchasers, will constitute valid and legally binding obligations of the Company enforceable against the Company in accordance with their terms, subject to the
Enforceability Exceptions, and will be entitled to the benefits of the Indenture; and when the Securities have been duly executed, authenticated, issued and delivered as provided in the Indenture and paid for as provided in this Agreement, the
Guarantee will be valid and legally binding obligations of the Guarantor, enforceable against the Guarantor in accordance with their terms, subject to the Enforceability Exceptions, and will be entitled to the benefits of the Indenture. 

 
 (f) The Exchange Securities (including the related guarantees) have been
duly authorized by the Company and, when duly executed, authenticated, issued and delivered as contemplated by the Registration Rights Agreement, will be duly and validly issued and outstanding and will constitute valid and legally binding
obligations of the Company, as issuer, and the Guarantor, as guarantor, enforceable against the Company and the Guarantor in accordance with their terms, subject to the Enforceability Exceptions, and will be entitled to the benefits of the
Indenture. 
  
 (g) This Agreement has been duly authorized,
executed and delivered by the Company; and the Registration Rights Agreement has been duly authorized, executed and delivered by the Company and, when duly executed and delivered by the other parties thereto, will constitute a valid and legally
binding agreement of the Company and the Guarantor enforceable against the Company and the Guarantor in accordance with its terms, subject to the Enforceability Exceptions, and except that rights to indemnity and contribution thereunder may be
limited by applicable law and public policy. 
  

 31 

 (h) The Securities and the Indenture (including the Guarantee) conform in all material respects to the
descriptions thereof contained in the Offering Memorandum. 
  
 (i)
The execution, delivery and performance by the Company and the Guarantor of each of the Transaction Documents to which each is a party, the issuance and sale of the Securities (including the Guarantee) and compliance by the Company and the Guarantor
with the terms thereof and the consummation of the transactions contemplated by the Transaction Documents will not (i) conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, or result in
the creation or imposition of any lien, charge or encumbrance upon any property or assets of the Company or any of its subsidiaries pursuant to, any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument currently in
effect and filed as an exhibit to the Exchange Act reports of the Company that are incorporated by reference into the Offering Memorandum, (ii) result in any violation of the provisions of the charter or by-laws of the Company or (iii) result in the
violation of any law or statute that, in the experience of such counsel, is generally applicable to transactions of the kind addressed in the Transaction Documents or, to the knowledge of such counsel, any judgment, order, rule or regulation of any
court or arbitrator or governmental or regulatory authority, except, in the case of clauses (i) and (iii) above, for any such conflict, breach or violation that would not, individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect. 
  
 (j) Assuming the accuracy of the
representations and warranties of the Company, the Guarantor and the Initial Purchasers contained in this Agreement (including in the case of the Initial Purchasers, in Annex A to this Agreement) and their compliance with their respective agreements
set forth herein, the Initial Purchasers’ compliance with the offering and transfer procedures and restrictions described in the Offering Memorandum, and the accuracy of the representations and warranties made to the Initial Purchasers in
accordance with the Purchase Agreement and the Offering Memorandum by the purchasers to whom the Initial Purchasers initially resell the Securities, no consent, approval, authorization, order, registration or qualification of or with any court or
arbitrator or governmental or regulatory authority is required for the execution, delivery and performance by the Company and the Guarantor of each of the Transaction Documents to which each is a party, the issuance and sale of the Securities
(including the Guarantee) to the Initial Purchasers and the initial resale by the Initial Purchasers and compliance by the Company and the Guarantor with the terms thereof and the consummation of the transactions contemplated by the Transaction
Documents, except for such consents, approvals, authorizations, orders and registrations or qualifications as may be required (i) under applicable state securities laws in connection with the purchase and resale of the Securities by the Initial
Purchasers and (ii) with respect to the Exchange Securities (including the related guaranty) under the Securities Act, the Trust Indenture Act and applicable state securities laws. 
  
 (k) To the knowledge of such counsel, except as described in the Offering Memorandum, there are no legal, governmental or
regulatory investigations, actions, suits or proceedings pending or threatened in or by any governmental or regulatory agency, authority or instrumentality or court or arbitrator to which the Company or any of its subsidiaries is a party or to which
any property of the Company or any of its subsidiaries is the subject that would be required to be described in the Offering Memorandum if the Offering Memorandum were a registration statement under the Securities Act on Form S-1 that is not so
described. 
  

 32 

 (l) The statements in the Offering Memorandum under the heading “Material United States federal
income tax considerations,” insofar as such statements purport to constitute summaries of matters of United States federal income tax law and regulations or legal conclusions with respect thereto, constitute accurate summaries of the matters
described therein in all material respects. 
  
 (m) The documents
incorporated by reference in the Preliminary Offering Memorandum and the Offering Memorandum (other than the financial statements and other financial information contained therein, as to which such counsel need express no opinion), when filed with
the Commission, complied as to form in all material respects with the requirements of the Exchange Act and the rules and regulations of the Commission thereunder. 
  
 (n) Neither the Company nor the Guarantor will, after giving effect to the offering and sale of the Securities and the
application of the proceeds thereof as described in the Offering Memorandum under “Use of proceeds” be, an “investment company” or an entity “controlled” by an “investment company” within the meaning of the
Investment Company Act. 
  
 (o) Neither the issuance, sale and
delivery of the Securities nor the application of the proceeds thereof by the Company as described in the Offering Memorandum will violate Regulation T, U or X of the Board of Governors of the Federal Reserve System or any other regulation of such
Board of Governors. 
  
 (p) Assuming the accuracy of the
representations and warranties of the Company, the Guarantor and the Initial Purchasers contained in this Agreement (including in the case of the Initial Purchasers, in Annex A to this Agreement) and their compliance with their respective agreements
contained herein, the Initial Purchasers’ compliance with the offering and transfer procedures and restrictions described in the Offering Memorandum, and the accuracy of the representations and warranties made to the Initial Purchasers in
accordance with the Purchase Agreement and the Offering Memorandum by the purchasers to whom the Initial Purchasers initially resell the Securities, it is not necessary, in connection with the issuance, offer and sale of the Securities to the
Initial Purchasers and the initial offer, resale and delivery of the Securities by the Initial Purchasers, in each case in the manner contemplated by this Agreement and the Offering Memorandum, to register the Securities under the Securities Act;
and prior to the filing of the Exchange Offer Registration Statement or the filing of a shelf registration statement as contemplated by the Registration Rights Agreement, the Indenture is not required to be qualified under the Trust Indenture Act,
it being understood that such counsel need not express any opinion as to any subsequent resale of any security. 
  
 Such counsel shall also advise you supplementally that they have participated in conferences with officers and other representatives of the Company and
with representatives of the Initial Purchasers and their counsel, and representatives of the Company’s independent public accountants and at which conferences the contents of the Offering Memorandum were discussed and, although such counsel are
not passing upon and do not assume any responsibility for the accuracy, completeness or fairness of the statements contained in the Offering Memorandum (except and to the extent expressly provided in paragraphs (h) and (l) above), on the basis of
the foregoing and the information disclosed to such counsel, but without any independent check and verification, no facts have come to the attention of the lawyers in such 

  

 33 

 
counsel’s Firm who have participated in the preparation of the Offering Memorandum, after such consultation by such lawyers as they deem appropriate
with other lawyers in such Firm being responsible for significant matters undertaken for the Company, that have led such counsel to believe that the Offering Memorandum, as of its date and the Closing Date, contained or contains any untrue statement
of a material fact or omitted or omits to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading (it being understood that such counsel shall not express any
belief with respect to the financial statements, schedules and notes or other financial data or statistical data derived therefrom, contained or incorporated by reference therein). Such counsel may state that, in making judgments in respect of
matters of materiality, such counsel has, to the extent it deemed appropriate, relied upon information received from management and other representations of the Company as to the possible impact of such items upon the Company. 
  
 In rendering such opinion, such counsel may rely as to matters of fact on
certificates of responsible officers of the Company and the Guarantor and public officials that are furnished to the Initial Purchasers. 
  
 Such opinion may state that it is limited to the federal laws of the United States, the laws of the State of New York, and the Delaware General
Corporation Law. Such counsel may rely on the opinion of Hathaway & Kunz, Wyoming counsel for the Company, as to the due authorization, execution and delivery by the Guarantor of the Transaction Documents. 
  
 The opinion and statement of Morgan, Lewis & Bockius LLP described above
shall be rendered to the Initial Purchasers at the request of the Company and shall so state therein. 
  

 34 

  
 Annex D 
  
 Form of Opinion of Wyoming Counsel 
  
 (a) Church & Dwight Company (the “Guarantor”) is validly
existing and in good standing under the laws of Wyoming and has the corporate power and authority necessary to own or hold its properties and to conduct the businesses described in the Offering Memorandum. 
  
 (b) All the outstanding shares of capital stock of the Guarantor have been
duly and validly authorized and issued, are fully paid and non-assessable. 
  
 (c) The Guarantor has the requisite corporate power and authority to execute and deliver each of the Transaction Documents to which it is a party and to perform its obligations thereunder. 
  
 (d) The Indenture has been duly authorized, executed and delivered by the
Guarantor. 
  
 (e) The Guarantee has been duly authorized by the
Guarantor. 
  
 (f) The guarantee of the Exchange Securities by the
Guarantor has been duly authorized by the Guarantor. 
  
 (g) This
Agreement and the Registration Rights Agreement have been duly authorized, executed and delivered by the Guarantor. 
  
 (h) The execution, delivery and performance by the Company and the Guarantor of each of the Transaction Documents to which each is a party, the issuance
and sale of the Securities (including the Guarantee) and compliance by the Company and the Guarantor with the terms thereof and the consummation of the transactions contemplated by the Transaction Documents will not (i) result in any violation of
the provisions of the charter or by-laws of the Guarantor or (ii) result in the violation of any Wyoming law or statute (other than applicable securities laws, as to which counsel need not express any opinion) or, to the knowledge of such counsel,
any judgment, order, rule or regulation of any Wyoming court or arbitrator or governmental or regulatory authority, except, in the case of clause (ii) above, for any such conflict, breach or violation that would not, individually or in the
aggregate, reasonably be expected to have a Material Adverse Effect. 
  
 (i) No consent, approval, authorization, order, registration or qualification of or with any Wyoming court or arbitrator or governmental or regulatory authority is required for the execution, delivery and performance by the Company and the
Guarantor of each of the Transaction Documents to which it is a party, the issuance and sale of the Securities (including the Guarantee) the issuance of the Exchange Securities (including the related guarantee thereof) and compliance by the Company
and the Guarantor with the terms thereof and the consummation of the transactions contemplated by the Transaction Documents, except for such consents, approvals, authorizations, orders and registrations or qualifications as may be required under
applicable Wyoming securities laws. 
  

 35 

 In rendering such opinion, such counsel may rely as to matters of fact on certificates of responsible
officers of the Company and the Guarantor and public officials that are furnished to the Initial Purchasers. 
  
 Such opinion may state that it is limited to the laws of the State of Wyoming. 
  
 The opinion of counsel described above shall be rendered to the Initial Purchasers at the request of the Company and shall
so state therein. 
  

 36 

  
 Exhibit A 

 
 Form of Registration Rights Agreement 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  

 37 

  
 EXECUTION COPY 
  
 REGISTRATION RIGHTS AGREEMENT 
  
 This REGISTRATION RIGHTS AGREEMENT dated December 22, 2004 (the
“Agreement”) is entered into by and among Church & Dwight Co., Inc., a Delaware corporation (the “Company”), the guarantors listed on the signature pages hereto (the “Guarantors”), and J.P. Morgan Securities Inc.
(“JPMorgan”) and Citigroup Global Markets Inc. (the “Initial Purchasers”). 
  
 The Company, the Guarantors and the Initial Purchasers are parties to the Purchase Agreement dated December 15, 2004 (the “Purchase Agreement”), which provides for the sale by the Company to the Initial
Purchasers of $250,000,000 aggregate principal amount of the Company’s 6.00% Senior Subordinated Notes due 2012 (the “Securities”), which will be guaranteed on an unsecured senior subordinated basis by each of the Guarantors. As an
inducement to the Initial Purchasers to enter into the Purchase Agreement, the Company and the Guarantors have agreed to provide to the Initial Purchasers and their direct and indirect transferees the registration rights set forth in this Agreement.
The execution and delivery of this Agreement is a condition to the closing under the Purchase Agreement. 
  
 In consideration of the foregoing, the parties hereto agree as follows: 
  
 1. Definitions. As used in this Agreement, the following terms shall have the following meanings: 
  
 “Business Day” shall mean any day that is not a Saturday, Sunday or
other day on which commercial banks in New York City are authorized or required by law to remain closed. 
  
 “Closing Date” shall mean the Closing Date as defined in the Purchase Agreement. 
  
 “Company” shall have the meaning set forth in the preamble and shall also include the Company’s successors.

  
 “Exchange Act” shall mean the Securities Exchange
Act of 1934, as amended from time to time. 
  
 “Exchange
Dates” shall have the meaning set forth in Section 2(a)(ii) hereof. 
  
 “Exchange Offer” shall mean the exchange offer by the Company and the Guarantors of Exchange Securities for Registrable Securities pursuant to Section 2(a) hereof. 
  
 “Exchange Offer Registration” shall mean a registration under the
Securities Act effected pursuant to Section 2(a) hereof. 
  
 “Exchange Offer Registration Statement” shall mean an exchange offer registration statement on Form S-4 (or, if applicable, on another appropriate form) and all 

  

 
amendments and supplements to such registration statement, in each case including the Prospectus contained therein, all exhibits thereto and any document
incorporated by reference therein. 
  
 “Exchange
Securities” shall mean senior subordinated notes issued by the Company and guaranteed by the Guarantors under the Indenture containing terms identical to the Securities (except that the Exchange Securities will not be subject to restrictions on
transfer or to any increase in the annual interest rate for failure to comply with this Agreement) and to be offered to Holders of Securities in exchange for Securities pursuant to the Exchange Offer. 
  
 “Guarantors” shall have the meaning set forth in the preamble and
shall also include any Guarantor’s successors. 
  
 “Holders” shall mean the Initial Purchasers, for so long as they own any Registrable Securities, and each of their successors, assigns and direct and indirect transferees who become owners of Registrable Securities under the
Indenture; provided that for purposes of Sections 4 and 5 of this Agreement, the term “Holders” shall include Participating Broker-Dealers. 
  
 “Indenture” shall mean the Indenture relating to the Securities dated as of December 22, 2004 among the Company, the Guarantors and The Bank of
New York, as trustee, and as the same may be amended from time to time in accordance with the terms thereof. 
  
 “Initial Purchasers” shall have the meaning set forth in the preamble. 
  
 “Inspector” shall have the meaning set forth in Section 3(a)(xiii) hereof. 
  
 “JPMorgan” shall have the meaning set forth in the preamble.

  
 “Majority Holders” shall mean the Holders of a
majority of the aggregate principal amount of the outstanding Registrable Securities; provided that whenever the consent or approval of Holders of a specified percentage of Registrable Securities is required hereunder, any Registrable
Securities owned directly or indirectly by the Company or any of its affiliates shall not be counted in determining whether such consent or approval was given by the Holders of such required percentage or amount; and provided, further,
that if the Company shall issue any additional Securities under the Indenture prior to consummation of the Exchange Offer or, if applicable, the effectiveness of any Shelf Registration Statement, such additional Securities and the Registrable
Securities to which this Agreement relates shall be treated together as one class for purposes of determining whether the consent or approval of Holders of a specified percentage of Registrable Securities has been obtained. 
  
 “Participating Broker-Dealers” shall have the meaning set forth in
Section 4(a) hereof. 
  

 2 

 “Person” shall mean an individual, partnership, limited liability company, corporation, 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 a
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 such prospectus, and in each case including any
document incorporated by reference therein. 
  
 “Purchase
Agreement” shall have the meaning set forth in the preamble. 
  
 “Registrable Securities” shall mean the Securities; provided that the Securities shall cease to be Registrable Securities (i) when a Registration Statement with respect to such Securities has been declared effective under
the Securities Act and such Securities have been exchanged or disposed of pursuant to such Registration Statement, (ii) when such Securities are eligible to be sold pursuant to Rule 144(k) (or any similar provision then in force, but not Rule 144A)
under the Securities Act or (iii) when such Securities cease to be outstanding. 
  
 “Registration Expenses” shall mean any and all expenses incident to performance of or compliance by the Company and the Guarantors with this Agreement, including without limitation: (i) all SEC, stock
exchange or National Association of Securities Dealers, Inc. registration and filing fees, (ii) all fees and expenses incurred in connection with compliance with state securities or blue sky laws (including reasonable fees and disbursements of
counsel for any Underwriters or Holders in connection with blue sky qualification of any Exchange Securities or Registrable Securities), (iii) all expenses of any Persons engaged by the Company or the Guarantors in preparing or assisting in
preparing, word processing, printing and distributing any Registration Statement, any Prospectus and any amendments or supplements thereto, any underwriting agreements, securities sales agreements or other similar agreements and any other documents
relating to the performance of and compliance with this Agreement, (iv) all rating agency fees, (v) all fees and disbursements relating to the qualification of the Indenture under applicable securities laws, (vi) the fees and disbursements of the
Trustee and its counsel, (vii) the fees and disbursements of counsel for the Company and the Guarantors and, in the case of a Shelf Registration Statement, the reasonable fees and disbursements of one counsel for the Holders (which counsel shall be
selected by the Majority Holders and which counsel may also be counsel for the Initial Purchasers) and (viii) the fees and disbursements of the independent public accountants of the Company and the Guarantors, including the expenses of any special
audits or “comfort” letters required by or incident to the performance of and compliance with this Agreement; provided that Registration Expenses shall exclude fees and expenses of counsel to the Underwriters (other than fees and
expenses set forth in clause (ii) above) or the Holders and underwriting discounts and commissions, brokerage commissions and transfer taxes, if any, relating to the sale or disposition of Registrable Securities by a Holder. 
  

 3 

 “Registration Statement” shall mean any registration statement of the Company and the
Guarantors that 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 any document incorporated by reference therein. 
  
 “SEC” shall mean the United States Securities and Exchange Commission. 
  
 “Securities Act” shall mean the Securities Act of 1933, as amended from time to time. 
  
 “Selling Holders” shall have the meaning set forth in Section
3(a)(i) hereto. 
  
 “Shelf Effectiveness Period” shall
have the meaning set forth in Section 2(b) hereof. 
  
 “Shelf
Registration” shall mean a registration effected pursuant to Section 2(b) hereof. 
  
 “Shelf Registration Statement” shall mean a “shelf” registration statement of the Company and the Guarantors that covers all or a portion of the Registrable Securities (but no other securities,
other than additional securities under the Indenture that may be issued by the Company prior to the effective date of the Shelf Registration, unless approved by the Holders whose Registrable Securities are to be covered by such Shelf Registration
Statement) on an appropriate form under Rule 415 under the Securities Act, or any similar rule that may be adopted by the SEC, and all amendments and supplements to such registration statement, including post-effective amendments, in each case
including the Prospectus contained therein, all exhibits thereto and any document incorporated by reference therein. 
  
 “Staff” shall mean the staff of the SEC. 
  
 “Target Registration Date” shall have the meaning set forth in Section 2(d) hereof. 
  
 “Trust Indenture Act” shall mean the Trust Indenture Act of 1939,
as amended from time to time. 
  
 “Trustee” shall mean
the trustee with respect to the Securities under the Indenture. 
  
 “Underwriter” shall have the meaning set forth in Section 3(e) hereof. 
  
 “Underwritten Offering” shall mean an offering in which Registrable Securities are sold to an Underwriter for reoffering to the public. 
  
 2. Registration Under the Securities Act. (a) To the extent not prohibited by any applicable law or applicable
interpretations of the Staff, the Company and the 

  

 4 

 
Guarantors shall use their reasonable best efforts to (1) cause to be filed an Exchange Offer Registration Statement covering an offer to the Holders to
exchange all the Registrable Securities for Exchange Securities and (2) have such Registration Statement remain effective until 210 days after the closing of the Exchange Offer. The Company and the Guarantors shall commence the Exchange Offer
promptly after the Exchange Offer Registration Statement is declared effective by the SEC and use their reasonable best efforts to complete the Exchange Offer not later than 60 days after such effective date. 
  
 The Company and the Guarantors shall commence the Exchange Offer by mailing
the related Prospectus, appropriate letters of transmittal and other accompanying documents to each Holder stating, in addition to such other disclosures as are required by applicable law, substantially the following: 
  

	 	(i)	that the Exchange Offer is being made pursuant to this Agreement and that all Registrable Securities validly tendered and not properly withdrawn will be accepted for exchange;

  

	 	(ii)	the dates of acceptance for exchange (which shall be a period of at least 20 Business Days from the date such notice is mailed) (the “Exchange Dates”);

  

	 	(iii)	that any Registrable Security not tendered will remain outstanding and continue to accrue interest but will not retain any rights under this Agreement; 

  

	 	(iv)	that any Holder electing to have a Registrable Security exchanged pursuant to the Exchange Offer will be required to surrender such Registrable Security, together with the
appropriate letters of transmittal, to the institution and at the address (located in the Borough of Manhattan, The City of New York) and in the manner specified in the notice, prior to the close of business on the last Exchange Date; and

  

	 	(v)	that any Holder will be entitled to withdraw its election, not later than the close of business on the last Exchange Date, by sending to the institution and at the address (located
in the Borough of Manhattan, The City of New York) 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 its election to have such Securities exchanged. 

  
 As a condition to participating in the Exchange Offer, a Holder will be required to represent in writing to the Company and the Guarantors that (i) any
Exchange Securities to be received by it will be acquired in the ordinary course of its business, (ii) at the time of the commencement of the Exchange Offer it has no arrangement or understanding with any Person to participate in the distribution
(within the meaning of the Securities Act) of the Exchange Securities in violation of the provisions of the Securities Act, (iii) it is not 

  

 5 

 
an “affiliate” (within the meaning of Rule 405 under the Securities Act) of the Company or any Guarantor and (iv) if such Holder is a broker-dealer
that will receive Exchange Securities for its own account in exchange for Registrable Securities that were acquired as a result of market-making or other trading activities, then such Holder will deliver a Prospectus in connection with any resale of
such Exchange Securities. 
  
 As soon as practicable after the
last Exchange Date, the Company and the Guarantors shall: 
  

	(i)	accept for exchange Registrable Securities or portions thereof validly tendered and not properly withdrawn pursuant to the Exchange Offer; and 

  

	(ii)	deliver, or cause to be delivered, to the Trustee for cancellation all Registrable Securities or portions thereof so accepted for exchange by the Company and issue, and cause the
Trustee to promptly authenticate and deliver to each Holder, Exchange Securities equal in principal amount to the principal amount of the Registrable Securities surrendered by such Holder. 

  
 The Company and the Guarantors shall use their reasonable best efforts to
complete the Exchange Offer as provided above and shall comply with the applicable requirements of the Securities Act, the Exchange Act and other applicable laws and regulations in connection with the Exchange Offer. The Exchange Offer shall not be
subject to any conditions, other than that (i) the Exchange Offer does not violate any applicable law or applicable interpretations of the Staff, (ii) no action or proceeding shall have been instituted or threatened in any court or by any
governmental agency with respect to the Exchange Offer that, in the Company’s judgment, could reasonably be expected to impair its ability to proceed with the Exchange Offer and (iii) any other conditions as shall be agreed upon by the Company
and the Initial Purchasers. 
  
 (b) In the event that (i) the
Company and the Guarantors determine that the Exchange Offer Registration provided for in Section 2(a) above is not available or may not be completed as soon as practicable after the last Exchange Date because it would violate any applicable law or
applicable interpretations of the Staff, (ii) the Exchange Offer is not for any other reason completed on or prior to 210 days from the date hereof or (iii) no later than 90 days after completion of the Exchange Offer any Initial Purchaser shall so
reasonably request in writing in connection with any offer or sale of Registrable Securities not eligible to be exchanged for Exchange Securities in the Exchange Offer, the Company and the Guarantors shall use their reasonable best efforts to cause
to be filed as soon as practicable after such determination, date or request, as the case may be, a Shelf Registration Statement providing for the sale of all the Registrable Securities by the Holders thereof and to have such Shelf Registration
Statement declared effective by the SEC. 
  
 In the event that the
Company and the Guarantors are required to file a Shelf Registration Statement pursuant to clause (iii) of the preceding sentence, the Company and the Guarantors shall use their reasonable best efforts to file and have declared effective by the SEC
both an Exchange Offer Registration Statement pursuant to Section 2(a) 

  

 6 

 
with respect to all Registrable Securities and a Shelf Registration Statement (which may be a combined Registration Statement with the Exchange Offer
Registration Statement) with respect to offers and sales of Registrable Securities held by the Initial Purchasers after completion of the Exchange Offer. 
  
 The Company and the Guarantors agree to use their reasonable best efforts to keep the Shelf Registration Statement continuously effective until the
expiration of the period referred to in Rule 144(k) (or any similar rule then in force, but not Rule 144A) under the Securities Act with respect to the Registrable Securities or such shorter period that will terminate when all the Registrable
Securities covered by the Shelf Registration Statement have been sold pursuant to the Shelf Registration Statement (the “Shelf Effectiveness Period”). The Company and the Guarantors further agree to supplement or amend the Shelf
Registration Statement and the related Prospectus if required by the rules, regulations or instructions applicable to the registration form used by the Company for such Shelf Registration Statement or by the Securities Act or by any other rules and
regulations thereunder for shelf registration or if reasonably requested by a Holder of Registrable Securities with respect to information relating to such Holder, and to use their reasonable best efforts to cause any such amendment to become
effective and such Shelf Registration Statement and Prospectus to become usable as soon as thereafter practicable. The Company and the Guarantors agree 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. 
  
 (c) The
Company and the Guarantors shall pay all Registration Expenses in connection with any registration pursuant to Section 2(a) or Section 2(b) hereof. Each Holder shall pay all underwriting discounts and commissions, brokerage commissions and transfer
taxes, if any, relating to the sale or disposition of such Holder’s Registrable Securities pursuant to the Shelf Registration Statement. 
  
 (d) An Exchange Offer Registration Statement pursuant to Section 2(a) hereof or a Shelf Registration Statement pursuant to Section 2(b) hereof will not be
deemed to have become effective unless it has been declared effective by the SEC. 
  
 In the event that either the Exchange Offer is not completed or the Shelf Registration Statement, if required hereby, is not declared effective on or prior to 210 days from the date hereof (the “Target
Registration Date”), the interest rate on the Registrable Securities will be increased by (i) 0.25% for the first 90-day period immediately following the Target Registration Date and (ii) an additional 0.25% per annum with respect to each
subsequent 90-day period, in each case until the Exchange Offer is completed or the Shelf Registration Statement, if required hereby, is declared effective by the SEC or the Securities become freely tradable under the Securities Act, up to a maximum
of 1.00% per annum of additional interest. 
  
 If the Shelf
Registration Statement, if required hereby, has been declared effective and thereafter either ceases to be effective or the Prospectus contained therein ceases to be usable at any time during the Shelf Effectiveness Period, and such failure to
remain effective or usable exists for more than 30 consecutive days (or more than 60 days total, 

  

 7 

 
whether or not consecutive) in any 12-month period, then the interest rate on the Registrable Securities will be increased by 0.25% per annum commencing on
the 31st day or 61st day, as applicable, in such 12-month period for the first 90-day period thereafter and an additional 0.25% with respect to each subsequent 60-day period, in each case ending on such date that the
Shelf Registration Statement has again been declared effective or the Prospectus again becomes usable, up to a maximum of 1.00% per annum. 
  
 (e) Without limiting the remedies available to the Initial Purchasers and the Holders, the Company and the Guarantors acknowledge that any failure by the
Company or the Guarantors to comply with their obligations under Section 2(a) and Section 2(b) hereof may result in material irreparable injury to the Initial Purchasers or the Holders for which there is no adequate remedy at law, that it will not
be possible to measure damages for such injuries precisely and that, in the event of any such failure, the Initial Purchasers or any Holder may obtain such relief as may be required to specifically enforce the Company’s and the Guarantors’
obligations under Section 2(a) and Section 2(b) hereof. 
  
 3.
Registration Procedures. (a) In connection with their obligations pursuant to Section 2(a) and Section 2(b) hereof, the Company and the Guarantors shall: 
  

(i) prepare and file with the SEC a Registration Statement on the appropriate form under the Securities Act, which form (x) shall be selected by the
Company and the Guarantors, (y) shall, in the case of a Shelf Registration, be available for the sale of the Registrable Securities by the Holders thereof (the Holders who sell Registrable Securities pursuant to such Shelf Registration being
referred to herein as the “Selling Holders”) and (z) shall comply as to form in all material respects with the requirements of the applicable form and include all financial statements required by the SEC to be filed therewith; and use
their reasonable best efforts to cause such Registration Statement to become effective and remain effective for the applicable period in accordance with Section 2 hereof; 
  
 (ii) prepare and file with the SEC such amendments and post-effective amendments to each Registration Statement as may be
necessary to keep such Registration Statement effective for the applicable period in accordance with Section 2 hereof and cause each Prospectus to be supplemented by any required prospectus supplement and, as so supplemented, to be filed pursuant to
Rule 424 under the Securities Act; and to use their reasonable best efforts to keep each Prospectus current during the period described in Section 4(3) of and Rule 174 under the Securities Act that is applicable to transactions by brokers or dealers
with respect to the Registrable Securities or Exchange Securities; 
  
 (iii) in the case of a Shelf Registration, furnish to each Selling Holder of Registrable Securities, to counsel for the Initial Purchasers, to counsel for such Holders (which, for the purposes of this Section 3, shall be a single counsel
selected by the Majority Holders) 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, in order to facilitate the sale or other disposition of the Registrable Securities thereunder as each such Selling Holder or Underwriter may reasonably request in writing; and the Company and the 

  

 8 

 
Guarantors consent to the use of such Prospectus and any amendment or supplement thereto in accordance with applicable law by each of the Selling Holders of
Registrable Securities and any such Underwriters in connection with the offering and sale of the Registrable Securities covered by and in the manner described in such Prospectus or any amendment or supplement thereto in accordance with applicable
law; 
  
 (iv) 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 shall reasonably request in writing by the time the
applicable Registration Statement is declared effective by the SEC; cooperate with such Holders in connection with any filings required to be made with the National Association of Securities Dealers, Inc.; and do any and all other acts and things
that may be reasonably necessary or advisable to enable each such Holder to complete the disposition in each such jurisdiction of the Registrable Securities owned by such Holder; provided that neither the Company nor any Guarantor shall be
required to (1) qualify as a foreign corporation or other entity or as a dealer in securities in any such jurisdiction where it would not otherwise be required to so qualify, (2) file any general consent to service of process in any such
jurisdiction or (3) subject itself to taxation in any such jurisdiction if it is not so subject; 
  
 (v) notify counsel for the Initial Purchasers and, in the case of a Shelf Registration, notify each Selling Holder of Registrable Securities and counsel
for such Holders (and, in the case of the Exchange Offer Registration Statement, notify any Initial Purchaser or Participating Broker-Dealer that shall have made a request pursuant to Section 4(b) hereof) promptly and, if requested by any such
Holder or counsel, confirm such advice in writing (1) when a Registration Statement has become effective and when any post-effective amendment thereto has been filed and becomes effective, (2) of any request by the SEC or any state securities
authority for amendments and supplements to a Registration Statement and Prospectus or for additional information after the Registration Statement has become effective, (3) 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, (4) if, between the effective date of a Shelf Registration Statement and the closing of any sale of Registrable Securities covered
thereby, the representations and warranties of the Company or any Guarantor contained in any underwriting agreement, securities sales agreement or other similar agreement, if any, relating to an offering of such Registrable Securities cease to be
true and correct in all material respects or if the Company or any Guarantor receives any notification with respect to the suspension of the qualification of the Registrable Securities for sale in any jurisdiction or the initiation of any proceeding
for such purpose, (5) of the happening of any event during the period a Registration Statement is effective that makes any statement made in such Registration Statement or the related Prospectus untrue in any material respect or that requires the
making of any changes in such Registration Statement or Prospectus in order to make the statements therein (in the case of the Prospectus, in light of the circumstances under which they were made) not misleading (but the Company need not disclose
the substance of such event prior to the filing of the relevant document referenced in Section 3(a)(ix)) and (6) of any determination by the 

  

 9 

 
Company or any Guarantor that a post-effective amendment to a Registration Statement would be appropriate; 
  
 (vi) use their reasonable best efforts to obtain the withdrawal of any order
suspending the effectiveness of a Registration Statement at the earliest possible time and provide prompt notice to each Holder of the withdrawal of any such order; 
  
 (vii) in the case of a Shelf Registration, furnish to each Selling Holder of Registrable Securities, without charge, at
least one conformed copy of each Registration Statement and any post-effective amendment thereto (without any documents incorporated therein by reference or exhibits thereto, unless requested in writing); 
  
 (viii) 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 issued in such
denominations and registered in such names (consistent with the provisions of the Indenture) as such Holders may reasonably request in writing at least one Business Day prior to the closing of any sale of Registrable Securities; 
  
 (ix) in the case of a Shelf Registration, upon the occurrence of any event
contemplated by Section 3(a)(v)(5) hereof, use their reasonable best efforts to prepare and file with the SEC a supplement or post-effective amendment to such Shelf Registration Statement or the related Prospectus or any document incorporated
therein by reference or file any other required document so that, as thereafter delivered to purchasers of the Registrable Securities, such Prospectus will not contain any untrue statement of a material fact or omit to state a material fact
necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; and the Company and the Guarantors shall notify the Holders of Registrable Securities to suspend use of the Prospectus as
promptly as practicable after the occurrence of such an event, and such Holders hereby agree (a) to suspend use of the Prospectus until the Company and the Guarantors have amended or supplemented the Prospectus to correct such misstatement or
omission (b) to maintain the information contained in such notice on the existence of such notice confidential unless and until the information is made publicly available (other than by action of such Holders, directly or indirectly); 
  
 (x) 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 of any document that is to be incorporated by reference into a Registration Statement or a Prospectus after initial filing of a Registration
Statement (other than any Annual Report on Form 10-K, Quarterly Report on Form 10-Q, Current Report on Form 8-K), provide copies of such document to the Initial Purchasers and their counsel (and, in the case of a Shelf Registration Statement, to the
Selling Holders of Registrable Securities and a single counsel for such Holders selected by the Majority Holders) and make such of the representatives of the Company and the Guarantors as shall be reasonably requested by the Initial Purchasers or
their counsel (and, in the case of a Shelf Registration Statement, the Selling Holders of Registrable Securities or their counsel) 

  

 10 

 
available for discussion of such document; and the Company and the Guarantors shall not, at any time after initial filing of a Registration Statement, file
any Prospectus, any amendment of or supplement to a Registration Statement or a Prospectus, or any document that is to be incorporated by reference into a Registration Statement or a Prospectus (other than any Annual Report on Form 10-K, Quarterly
Report on Form 10-Q, Current Report on Form 8-K), of which the Initial Purchasers and their counsel (and, in the case of a Shelf Registration Statement, the Selling Holders of Registrable Securities and their counsel) shall not have previously been
advised and furnished a copy or to which the Initial Purchasers or their counsel (and, in the case of a Shelf Registration Statement, the Selling Holders of Registrable Securities or their counsel) shall reasonably and promptly object; 

 
 (xi) 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; 
  
 (xii) use reasonable best efforts to cause the Indenture to be qualified under the Trust Indenture Act in connection with the registration of the Exchange Securities or Registrable Securities, as the case may be;
cooperate with the Trustee and the Holders 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 Trust Indenture Act; and 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; 
  
 (xiii) in the case of a Shelf Registration, make available for inspection by
a representative of the Selling Holders of the Registrable Securities (an “Inspector”), any Underwriter participating in any disposition pursuant to such Shelf Registration Statement, any attorneys and accountants designated by the Holders
of Registrable Securities (but in no event more than one firm of attorneys or one firm of accountants for such Holders selected by the Majority Holders) and any attorneys and accountants designated by such Underwriter, at reasonable times during
normal business hours and in a reasonable manner, all pertinent financial and other records, documents and properties of the Company and the Guarantors, and cause the respective officers, directors and employees of the Company and the Guarantors to
supply all information reasonably requested by any such Inspector, Underwriter, attorney or accountant in connection with the performance of their “due diligence” investigation with respect to a Shelf Registration Statement;
provided that if any such information is identified by the Company or any Guarantor as being confidential or proprietary, each Person receiving such information shall take such actions as are reasonably necessary to protect the
confidentiality of such information to the extent such action is otherwise not inconsistent with, an impairment of or in derogation of the rights and interests of any Inspector, Holder or Underwriter; 
  
 (xiv) in the case of a Shelf Registration, use their reasonable best efforts
to cause all Registrable Securities to be listed on any securities exchange or any automated quotation system on which similar securities issued or guaranteed by the Company or any 

  

 11 

 
Guarantor are then listed if requested by the Majority Holders, to the extent such Registrable Securities satisfy applicable listing requirements;

  
 (xv) if reasonably requested by any Holder of Registrable
Securities covered by a Shelf Registration Statement, promptly include in a Prospectus supplement or post-effective amendment or, if permitted by law or Staff interpretation, prepare a document, the filing of which will enable the incorporation by
reference into the Prospectus of, such information with respect to such Holder as such Holder reasonably requests to be included therein so that such Prospectus does 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 light of the circumstances under which they were made, not misleading and make all required filings of such Prospectus supplement, such post-effective amendment or such other document promptly
after the Company has received notification of the matters to be so included in such filing; and 
  
 (xvi) in the case of a Shelf Registration, enter into such customary agreements and take all such other customary actions in connection therewith
(including those requested by the Holders of a majority in principal amount of the Registrable Securities being sold) in order to expedite or facilitate the disposition of such Registrable Securities, including, but not limited to, an Underwritten
Offering, and in such connection, (1) to the extent possible, make such representations and warranties to the Holders and any Underwriters of such Registrable Securities with respect to the business of the Company and its subsidiaries and the
Registration Statement, Prospectus and documents incorporated by reference or deemed incorporated by reference, if any, in each case, in form, substance and scope as are customarily made by issuers to underwriters in underwritten offerings and
confirm the same if and when requested, (2) in the case of an Underwritten Offering, use reasonable best efforts to obtain opinions of counsel to the Company and the Guarantors (which counsel and opinions, in form, scope and substance, shall be
reasonably satisfactory to the Holders and such Underwriters and their respective counsel) addressed to each selling Holder and Underwriter of Registrable Securities, covering the matters customarily covered in opinions requested in underwritten
offerings, (3) in the case of an Underwritten Offering, use reasonable best efforts to obtain “comfort” letters from the independent certified public accountants of the Company and the Guarantors (and, if necessary, any other certified
public accountant of any subsidiary of the Company or any Guarantor, or of any business acquired by the Company or any Guarantor for which financial statements and financial data are or are required to be included in the Registration Statement)
addressed to each Selling Holder and Underwriter of Registrable Securities, such letters to be in customary form and covering matters of the type customarily covered in “comfort” letters in connection with underwritten offerings and (4)
deliver such documents and certificates as may be reasonably requested by the Holders of a majority in principal amount of the Registrable Securities being sold or the Underwriters, and which are customarily delivered in underwritten offerings, to
evidence the continued validity of the representations and warranties of the Company and the Guarantors made pursuant to clause (1) above and, with respect to an Underwritten Offering, to evidence compliance with any customary conditions contained
in an underwriting agreement. 
  

 12 

 (b) In the case of a Shelf Registration Statement, the Company may require each Selling Holder of
Registrable Securities to furnish to the Company such information regarding such Holder and the proposed disposition by such Holder of such Registrable Securities as the Company and the Guarantors may from time to time reasonably request in writing,
and the Company may exclude from such Shelf Registration the Registrable Securities of any Holder that fails to furnish such information within a reasonable period of time following such request unless and until such information is delivered prior
to the effectiveness of such Shelf Registration. 
  
 (c) In the
case of a Shelf Registration Statement, each Holder of Registrable Securities agrees that, upon receipt of any notice from the Company and the Guarantors of the happening of any event of the kind described in Section 3(a)(v)(3) or 3(a)(v)(5) hereof,
such Holder will forthwith discontinue disposition of Registrable Securities pursuant to the Shelf Registration Statement until such stop order is lifted or such Holder’s receipt of the copies of the supplemented or amended Prospectus
contemplated by Section 3(a)(ix) hereof and, if so directed by the Company and the Guarantors, such Holder will deliver to the Company and the Guarantors all copies in its possession, other than permanent file copies then in such Holder’s
possession, of the Prospectus covering such Registrable Securities that is current at the time of receipt of such notice. 
  
 (d) If the Company and the Guarantors shall give any notice pursuant to Section 3(c) hereof to suspend the disposition of Registrable Securities pursuant
to a Shelf Registration Statement, the Company and the Guarantors shall extend the period during which such Shelf Registration Statement shall be maintained effective pursuant to this Agreement by the number of days during the period from and
including the date of the giving of such notice to and including the date when the Holders of such Registrable Securities shall have received copies of the supplemented or amended Prospectus necessary to resume such dispositions. The Company and the
Guarantors may give any such notice only twice during any 365-day period, any such suspensions shall not exceed 30 days for each suspension and there shall not be more than two suspensions in effect during any 365-day period. 
  
 (e) The Holders of Registrable Securities covered by a Shelf Registration
Statement who desire to do so may sell such Registrable Securities in an Underwritten Offering. In any such Underwritten Offering, the investment bank or investment banks and manager or managers (each an “Underwriter”) that will administer
the offering will be selected by the Holders of a majority in principal amount of the Registrable Securities included in such offering. 
  
 4. Participation of Broker-Dealers in Exchange Offer. (a) The Staff has taken the position that any broker-dealer that receives Exchange Securities
for its own account in the Exchange Offer in exchange for Securities that were acquired by such broker-dealer as a result of market-making or other trading activities (a “Participating Broker-Dealer”) may be deemed to be an
“underwriter” within the meaning of the Securities Act and must deliver a prospectus meeting the requirements of the Securities Act in connection with any resale of such Exchange Securities. 
  

 13 

 The Company and the Guarantors understand that it is the Staff’s position that if the Prospectus
contained in the Exchange Offer Registration Statement includes a plan of distribution containing a statement to the above effect and the means by which Participating Broker-Dealers may resell the Exchange Securities, without naming the
Participating Broker-Dealers or specifying the amount of Exchange Securities owned by them, such Prospectus may be delivered by Participating Broker-Dealers to satisfy their prospectus delivery obligation under the Securities Act in connection with
resales of Exchange Securities for their own accounts, so long as the Prospectus otherwise meets the requirements of the Securities Act. 
  
 (b) In light of the above, and notwithstanding the other provisions of this Agreement, the Company and the Guarantors agree to amend or supplement the
Prospectus contained in the Exchange Offer Registration Statement for a period of up to 180 days after the last Exchange Date, if requested by the Initial Purchasers or by one or more Participating Broker-Dealers, in order to expedite or facilitate
the disposition of any Exchange Securities by Participating Broker-Dealers consistent with the positions of the Staff recited in Section 4(a) above; provided that if, during such 180-day period, any event of the kind described in Section
3(a)(v)(3) or 3(a)(v)(5) hereof shall occur, the Company and the Guarantors shall extend such 180-day period by the number of days during the period from and including the date of receipt of notice pursuant to Section 3(a)(v) hereof to and including
the date when such Participating Broker-Dealers shall have received copies of the supplemented or amended Prospectus necessary to resume such dispositions. The Company and the Guarantors further agree that Participating Broker-Dealers shall be
authorized to deliver such Prospectus during such period in connection with the resales contemplated by this Section 4. 
  
 (c) The Initial Purchasers shall have no liability to the Company, any Guarantor or any Holder with respect to any request that they may make pursuant to
Section 4(b) above. 
  
 5. Indemnification and
Contribution. (a) The Company and each Guarantor, jointly and severally, agree to indemnify and hold harmless each Initial Purchaser and each Holder, their respective affiliates, directors and officers and each Person, if any, who controls any
Initial Purchaser or any Holder within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, from and against any and all losses, claims, damages and liabilities (including, without limitation, legal fees and other
expenses incurred in connection with any suit, action or proceeding or any claim asserted, as such fees and expenses are incurred), that arise out of, or are based upon, any untrue statement or alleged untrue statement of a material fact contained
in any Registration Statement or any Prospectus or any omission or alleged omission to state therein a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which
they were made, not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are based upon, (x) any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with
any information relating to any Initial Purchaser or information relating to any Holder furnished to the Company in writing through JPMorgan or any selling Holder expressly for use therein and (y) to the extent the 

  

 14 

 
delivery of a Prospectus is required by law, any untrue statement or omission or alleged untrue statement or omission that was contained or made in any
related preliminary Prospectus, if both (A) a copy of the final Prospectus was not sent or given by such Initial Purchaser or Holder to such Person asserting any such loss, claim, damage or liability on or prior to the written confirmation of the
sale of such Securities or Exchange Securities to such Person and (B) the untrue statement in or omission from the related preliminary Prospectus was corrected in the final Prospectus and the Company complied with its agreements in Section 3(a)(ii),
3(a)(iii) and 3(a)(ix). In connection with any Underwritten Offering permitted by Section 3, the Company and the Guarantors, jointly and severally, will also indemnify the Underwriters, if any, selling brokers, dealers and similar securities
industry professionals participating in the distribution, their respective affiliates and each Person who controls such Persons (within the meaning of the Securities Act and the Exchange Act) to the same extent as provided above with respect to the
indemnification of the Holders, if requested in connection with any Registration Statement. 
  
 (b) Each Holder agrees, severally and not jointly, to indemnify and hold harmless the Company, the Guarantors, the Initial Purchasers and the other selling Holders, the directors of the Company and the Guarantors,
each officer of the Company and the Guarantors who signed the Registration Statement and each Person, if any, who controls the Company, the Guarantors, any Initial Purchaser and any other selling Holder within the meaning of Section 15 of the
Securities Act or Section 20 of the Exchange Act to the same extent as the indemnity set forth in paragraph (a) above, but only with respect to any losses, claims, damages or liabilities that arise out of, or are based upon, any untrue statement or
omission or alleged untrue statement or omission made in reliance upon and in conformity with any information relating to such Holder furnished to the Company in writing by such Holder expressly for use in any Registration Statement and any
Prospectus. 
  
 (c) 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 indemnification may be sought pursuant to either paragraph (a) or (b) above, such Person (the “Indemnified
Person”) shall promptly notify the Person against whom such indemnification may be sought (the “Indemnifying Person”) in writing; provided that the failure to notify the Indemnifying Person shall not relieve it from any
liability that it may have under this Section 5 except to the extent that it has been materially prejudiced (through the forfeiture of substantive rights or defenses) by such failure; and provided, further, that the failure to notify
the Indemnifying Person shall not relieve it from any liability that it may have to an Indemnified Person otherwise than under this Section 5. If any such proceeding shall be brought or asserted against an Indemnified Person and it shall have
notified the Indemnifying Person thereof, the Indemnifying Person shall retain counsel reasonably satisfactory to the Indemnified Person to represent the Indemnified Person and any others entitled to indemnification pursuant to this Section 5 that
the Indemnifying Person may designate in such proceeding and shall pay the fees and expenses of such counsel related to such proceeding, as incurred. In any such proceeding, any Indemnified Person shall have the right to retain its own counsel, but
the reasonable fees and expenses of such counsel shall be at the expense of such Indemnified 

  

 15 

 
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; (iii) the Indemnified Person shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to
those available to the Indemnifying Person; or (iv) 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 and agreed 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 reasonable fees and expenses shall be reimbursed as they are incurred. Any such separate firm (x) for any Initial
Purchaser, its affiliates, directors and officers and any control Persons of such Initial Purchaser shall be designated in writing by JPMorgan, (y) for any Holder, its directors and officers and any control Persons of such Holder shall be designated
in writing by the Majority Holders and (z) in all other cases shall be designated in writing by the Company. The Indemnifying Person shall not be liable for any settlement of any proceeding effected without its written consent (which consent shall
not be unreasonably withheld), but if settled with such consent or if there be a final judgment for the plaintiff, the Indemnifying Person agrees to indemnify each Indemnified Person from and against any loss or liability by reason of such
settlement or judgment. No Indemnifying Person shall, without the 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
indemnification could have been sought hereunder by such Indemnified Person, unless such settlement (A) includes an unconditional release of such Indemnified Person, in form and substance reasonably satisfactory to such Indemnified Person, from all
liability on claims that are the subject matter of such proceeding and (B) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any Indemnified Person. 
  
 (d) If the indemnification provided for in paragraphs (a) and (b) above is
unavailable to an Indemnified Person or insufficient in respect of any losses, claims, damages or liabilities 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 the Guarantors from
the offering of the Securities and the Exchange Securities, on the one hand, and by the Holders from receiving Securities or Exchange Securities registered under the Securities Act, on the other hand, or (ii) if the allocation provided by clause (i)
is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) but also the relative fault of the Company and the Guarantors on the one hand and the Holders on the other
in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative fault of the Company and the Guarantors on the one hand and the Holders
on the other shall be determined by reference to, among other things, 

  

 16 

 
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 the Guarantors or by the Holders and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. 
  
 (e) The Company, the Guarantors and the Holders agree that it would not be
just and equitable if contribution pursuant to this Section 5 were determined by pro rata allocation (even if the Holders 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 paragraph (d) above. The amount paid or payable by an Indemnified Person as a result of the losses, claims, damages and liabilities referred to in paragraph (d) above shall be deemed to include, subject to
the limitations set forth above, any legal or other reasonable expenses by such Indemnified Person in connection with any such action or claim. Notwithstanding the provisions of this Section 5, in no event shall a Holder be required to contribute
any amount in excess of the amount by which the total price at which the Securities or Exchange Securities sold by such Holder exceeds the amount of any damages that such Holder 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. 
  
 (f) The remedies provided for in this
Section 5 are not exclusive and shall not limit any rights or remedies that may otherwise be available to any Indemnified Person at law or in equity. 
  
 (g) The indemnity and contribution provisions contained in this Section 5 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 the Initial Purchasers or any Holder or any Person controlling any Initial Purchaser or any Holder, or by or on behalf of the Company or the Guarantors or the officers or
directors of or any Person controlling the Company or the Guarantors, (iii) acceptance of any of the Exchange Securities and (iv) any sale of Registrable Securities pursuant to a Shelf Registration Statement. 
  
 6. General. 
  
 (a) No Inconsistent Agreements. The Company and the Guarantors
represent, warrant and agree that (i) the rights granted to the Holders hereunder do not in any way conflict with and are not inconsistent with the rights granted to the holders of any other outstanding securities issued or guaranteed by the Company
or any Guarantor under any other agreement and (ii) neither the Company nor any Guarantor has entered into, or on or after the date of this Agreement will enter into, any agreement that is inconsistent with the rights granted to the Holders of
Registrable Securities in this Agreement or otherwise conflicts with the provisions hereof. 
  
 (b) Amendments and Waivers. The provisions of this Agreement, including the provisions of this sentence, may not be amended, modified or supplemented, and 

  

 17 

 
waivers or consents to departures from the provisions hereof may not be given unless the Company and the Guarantors 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 consent; provided that no amendment, modification, supplement, waiver or
consent to any departure from the provisions of Section 5 hereof shall be effective as against any Holder of Registrable Securities unless consented to in writing by such Holder. Any amendments, modifications, supplements, waivers or consents
pursuant to this Section 6(b) shall be by a writing executed by each of the parties hereto. 
  
 (c) Notices. All notices and other communications provided for or permitted hereunder shall be made in writing by hand-delivery, registered first-class mail, telex, telecopier, or any courier guaranteeing
overnight delivery (i) if to a Holder, at the most current address given by such Holder to the Company by means of a notice given in accordance with the provisions of this Section 6(c), which address initially is, with respect to the Initial
Purchasers, the address set forth in the Purchase Agreement; (ii) if to the Company and the Guarantors, initially at the Company’s address set forth in the Purchase Agreement and thereafter at such other address, notice of which is given in
accordance with the provisions of this Section 6(c); and (iii) to such other persons at their respective addresses as provided in the Purchase Agreement and thereafter at such other address, notice of which is given in accordance with the provisions
of this Section 6(c). All such notices and communications shall be deemed to have been duly given: at the time delivered by hand, if personally delivered; five Business Days after being deposited in the mail, postage prepaid, if mailed; when
answered back, if telexed; when receipt is acknowledged, if telecopied; and on the next Business Day if timely delivered to an air courier guaranteeing overnight delivery. Copies of all such notices, demands or other communications shall be
concurrently delivered by the Person giving the same to the Trustee, at the address specified in the Indenture. 
  
 (d) Successors 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
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 and such Person shall be
entitled to receive the benefits hereof. The Initial Purchasers (in their capacity as Initial Purchasers) shall have no liability or obligation to the Company or the Guarantors with respect to any failure by a Holder to comply with, or any breach by
any Holder of, any of the obligations of such Holder under this Agreement. 
  
 (e) Third Party Beneficiaries. Each Holder shall be a third party beneficiary to the agreements made hereunder between the Company and the Guarantors, on the one hand, and the Initial Purchasers, on the other
hand, and shall have the right to enforce 

  

 18 

 
such agreements directly to the extent it deems such enforcement necessary or advisable to protect its rights or the rights of other Holders hereunder.

  
 (f) 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. 
  
 (g) Headings. The headings in this Agreement are for convenience of
reference only, are not a part of this Agreement and shall not limit or otherwise affect the meaning hereof. 
  
 (h) Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York. 
  
 (i) Miscellaneous. This Agreement contains the entire agreement
between the parties relating to the subject matter hereof and supersedes all oral statements and prior writings with respect thereto. If any term, provision, covenant or restriction contained in this Agreement is held by a court of competent
jurisdiction to be invalid, void or unenforceable or against public policy, the remainder of the terms, provisions, covenants and restrictions contained herein shall remain in full force and effect and shall in no way be affected, impaired or
invalidated. The Company, the Guarantors and the Initial Purchasers shall endeavor in good faith negotiations to replace the invalid, void or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to
that of the invalid, void or unenforceable provisions. 
  

 19 

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

			
	 CHURCH & DWIGHT CO., INC.

		
	 By:
	 	 
	 Name:
	 	 
	 Title:
	 	 

  

			
	 CHURCH & DWIGHT COMPANY

		
	 By:
	 	 
	 Name:
	 	 
	 Title:
	 	 

  
 Confirmed and accepted as of the
date first above written: 
  
 J.P. MORGAN SECURITIES INC. 
  
 For itself and on behalf of the 
 several Initial Purchasers 
  

			
		
	By	 	 
	 	 	Authorized Signatory

  
 [Signature Page to
Rergistrtation Rights Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00076-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00076-of-00352.parquet"}]]