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Exhibit 4.1    
    

 
  FIFTH SUPPLEMENTAL INDENTURE    
    

        This FIFTH SUPPLEMENTAL INDENTURE, dated as of June 21, 2004 (the "Fifth Supplemental Indenture"), is entered into by and among United States Cellular
Corporation, a corporation duly organized and existing under the laws of the State of Delaware (the "Company"), and BNY Midwest Trust Company, an Illinois trust company, as trustee (the "Trustee"). 

W I T N E S S E T H:  

        WHEREAS, the Company and the Trustee are parties to an Indenture, dated as of June 1, 2002 (the "Indenture"), relating to the issuance from time to time by
the Company of its Securities on terms to be specified at the time of issuance; 

        WHEREAS,
Section 9.01 of the Indenture provides that a supplemental indenture may be entered into by the Company and the Trustee, without the consent of any Holders of Securities,
to establish the form or terms of securities of any series as permitted by Section 2.01 of the Indenture, add to the covenants of the Company, add provisions that are not inconsistent with the
other provisions and do not adversely affect the rights of holders of Securities and to add Events of Default with respect to all or any series of outstanding Securities; 

        WHEREAS,
pursuant to Section 9.01(b), (d), (e) and (f) of the Indenture, this Fifth Supplemental Indenture does not require the consent of any holders of Securities;
and 

        WHEREAS,
all things necessary to make this Fifth Supplemental Indenture a valid and legally binding agreement of the Company, the Company and the Trustee and a valid amendment of and
supplement to the Indenture have been done. 

        NOW,
THEREFORE, THIS FIFTH SUPPLEMENTAL INDENTURE WITNESSETH: 

        For
and in consideration of the premises and the issuance of the Series of Securities provided for herein, the Company and the Trustee mutually covenant and agree for the equal and
proportionate benefit of the respective Holders of the Securities of each such Series as follows: 

ARTICLE ONE 

RELATION TO INDENTURE; DEFINITIONS;

RULES OF CONSTRUCTION 

        SECTION
1.1    Relation to Indenture.    This Supplemental Indenture constitutes an integral part of the Indenture. 

        SECTION
1.2    Definitions.    For all purposes of this Supplemental Indenture, the following terms shall have the
respective meanings set forth in this Section. 

        "Assets"
means the gross dollar amount of assets, as defined by generally accepted accounting principles, less accumulated depreciation and amortization. 

        "Capitalized
Rent" means the present value (discounted semi-annually at a discount rate equal to the weighted average rate of interest borne by the Securities then
Outstanding) of the total net amount of rent payable for the remaining term of any lease of property by the Company (including any period for which any lease has been extended);  provided, however, that no such rental obligation shall be deemed to be Capitalized Rent unless the
lease resulted from a Sale and Leaseback Transaction. The total net amount of rent payable under any lease for any period shall be the total amount of the rent payable by the lessee with respect to
such period but shall not include amounts required to be paid on account of maintenance and repairs, insurance, taxes assessments, water rates, sewer rates and similar charges. 

 

        "Capital
Stock" means and includes any and all shares, interests, participations or other equivalents (however designated) of ownership in a corporation or other Person. 

        "Consolidated
Assets" means the Assets of the Company and its Subsidiaries determined on a consolidated basis as of the end of the Company's then most recently reported fiscal year or
quarter, as the case may be, including minority interests in Subsidiaries. 

        "Control"
means ownership of voting power sufficient to elect a majority of the directors or other members of the governing body of any Person. 

        "Debt"
means, with respect to a Person, all obligations of such Person for borrowed money and all such obligations of any other Person for borrowed money guaranteed by such Person. 

        "Funded
Debt" means any Debt maturing by its terms more than one year from its date of issuance (notwithstanding that any portion of such Debt is included in current liabilities). 

        "Lien"
means any mortgage, pledge, security interest, lien, charge or other encumbrance. 

        "property"
means any directly-held interest of a Person in any kind of property or asset whether real, personal or mixed and whether tangible or intangible, and includes
capital stock or other ownership interests or participations in or indebtedness of a subsidiary or other Person. 

        "Sale
and Leaseback Transaction" means any arrangement with any Person other than a Tax Consolidated Subsidiary providing for the leasing (as lessee) by the Company of any property
(except for temporary leases for a term, including any renewal thereof, of not more than three years (providing that any such temporary lease may be for a term of up to five years if (a) the
Board of Directors of the Company reasonably finds such term to be in the best interest of the Company and (b) the primary purpose of the transaction of which such lease is part is not to
provide funds to or financing for the Company)), which property has been or is to be sold or transferred by the Company (i) to any subsidiary of the Company in contemplation of or in connection
with such arrangement or (ii) to such other Person. 

        "Secured
Debt" means Debt of the Company secured by any Lien on property (including Capital Stock or indebtedness of subsidiaries of the Company) owned by the Company. 

        "Tax
Consolidated Subsidiary" means a subsidiary of the Company in respect of which, at the time a Sale and Leaseback Transaction is entered into by the Company, the Company would be
entitled to file a consolidated federal income tax return. 

        Capitalized
terms used herein without definition shall have the same meanings given them in the Indenture. 

        SECTION
1.3    Rules of Construction.    For all purposes of this Supplemental Indenture: 

        (a)   capitalized
terms used herein without definition shall have the meanings specified in the Indenture; 

        (b)   all
references herein to Articles and Sections, unless otherwise specified, refer to the corresponding Articles and Sections of this Supplemental Indenture; 

        (c)   the
terms "herein", "hereof', "hereunder" and other words of similar import refer to this Supplemental Indenture; and 

        (d)   in
the event of a conflict with the definition of terms in the Indenture, the definitions in this Supplemental Indenture shall control. 

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ARTICLE TWO 

THE SECURITIES 

        There
is hereby established a Series of Securities pursuant to the Indenture with the following terms: 

        SECTION
2.1    Title of the Securities.    The Securities (the "Notes") shall be a further issuance of the Company's
6.70% Senior Notes due 2033 initially issued on December 8, 2003, in the aggregate principal amount of $444,000,000. The Notes authorized hereby shall have the same CUSIP number and the same
terms as such previously issued Notes other than the issuance date, first interest payment date and issue price. The Notes authorized hereby shall be deemed to be part of the same series as the Notes
initially issued on December 8, 2003 and holders of the Notes authorized hereby shall have the right to vote with holders of the previously issued Notes. 

        SECTION
2.2    Limitation on Aggregate Principal Amount.    The Notes authorized hereby will be issued in an aggregate
principal amount of $100,000,000 (except for Notes authenticated and delivered upon registration of transfer of, in exchange for or in lieu of other Notes).    The Company may, at its
option, at any time and without the consent of the then existing holders of the Notes, issue additional Notes in one or more transactions after the date of the initial issuance of the Notes with terms
(other than the issuance date, first interest payment date and issue price) identical to the Notes initially issued. Any additional Notes issued will be deemed to be part of the same series as the
Notes initially issued and holders of any such additional Notes shall have the right to vote with holders of all other previously issued Notes. No additional Notes may be issued if an Event of Default
under the Indenture has occurred and is continuing with respect to the Notes. 

        SECTION
2.3    Form and Dating.    

        (a)    General.    The Notes and the Trustee's certificate of authentication shall be substantially in the form of
Exhibit A hereto. The Notes may have notations, legends or endorsements required by law, stock exchange rule or usage. Each Note shall be dated the date of its authentication. The Notes shall
be in denominations of $1,000.00 and integral multiples thereof. 

        The
terms and provisions contained in the Notes shall constitute, and are hereby expressly made, a part of this Supplemental Indenture, and the Company and the Trustee, by their
execution and delivery of this Supplemental Indenture, expressly agree to such terms and provisions and to be bound thereby. However, to the extent any provision of any Notes conflicts with the
express provisions of this Supplemental Indenture, the provisions of this Supplemental Indenture shall govern and be controlling. 

        (b)    Book-Entry Provisions.    The Notes shall be issued initially in global form and the Company hereby
designates The Depository Trust Company as the initial Depositary for the Global Securities. Except as provided in Section 2.11 of the Indenture, owners of beneficial interests in Global
Securities will not be entitled to receive physical delivery of certificated Notes. 

        SECTION
2.4    Optional Redemption.    The Notes may be redeemed at the option of the Company, in whole or in part, at
any time as set forth in the Notes. 

ARTICLE THREE 

ADDITIONAL COVENANTS OF THE COMPANY 

        SECTION
3.1    Limitations on Secured Debt.    So long as any of the Notes remain Outstanding, the Company will not
create or incur any Secured Debt without in any such case effectively providing concurrently with the creation or incurrence of any such Secured Debt that the Notes then Outstanding 

3

 

(together
with, if the Company shall so determine, any other Debt of or guaranteed by the Company ranking equally with the Notes and then existing or thereafter created) shall be secured equally and
ratably with (or, at the option of the Company, prior to) such Secured Debt, unless immediately after the incurrence of such Secured Debt (and after giving effect to the application of the proceeds,
if any, therefrom), the aggregate principal amount of all Secured Debt, together with the aggregate amount of Capitalized Rent in respect of Sale and Leaseback Transactions (other than Sale and
Leaseback Transactions described in clauses (a) to (f), inclusive, of Section 3.2), would not exceed 20% of the Consolidated Assets;  provided, however, that the foregoing restrictions shall not apply to, and there shall be excluded in
computing Secured Debt for the purpose of such restrictions, Secured Debt secured by: 

        (a)   Liens
on property existing at the time of acquisition of such property by the Company, or Liens to secure the payment of all or any part of the purchase price of
property acquired or constructed by the Company (including any improvements to existing property) created at the time of or within 270 days following the acquisition of such property by the
Company, or Liens to secure any Secured Debt incurred by the Company prior to, at the time of or within 270 days following the acquisition of such property, which Secured Debt is incurred for
the purpose of financing all or any part of the purchase price thereof; provided, however, that in the
case of any such acquisition, the Lien shall not apply to any property theretofore owned by the Company (including property transferred by the Company to any subsidiary of the Company in contemplation
of or in connection with the creation of such Lien) or to any property of the Company other than the property so acquired (other than, in the case of construction or improvement, any theretofore
unimproved real property or portion thereof on which the property so constructed, or improvement, is located); 

        (b)   Liens
on property of a person (i) existing at the time such Person is merged into or consolidated with the Company or at the time of a sale, lease or other
disposition of the properties of a Person as an entirety or substantially as an entirety to the Company, (ii) resulting from such merger, consolidation, sale, lease or disposition by virtue of
any Lien on property granted by the Company prior to such merger, consolidation, sale, lease or disposition (and not in contemplation thereof or in connection therewith) which applies to
after-acquired property of the Company or (iii) resulting from such merger, consolidation, sale, lease or disposition pursuant to a Lien or contractual provision granted or entered into by such
Person prior to such merger, consolidation, sale, lease or disposition (and not at the request of the Company); provided,  however, that any such Lien
referred to in clause (i) shall not apply to any property of the Company other than the property subject thereto, at
the time such Person or properties were acquired and any such Lien referred to in clause (ii) or (iii) shall not apply to any property of the Company other than the property so acquired; 

        (c)   Liens
existing on the date of this Supplemental Indenture; 

        (d)   Liens
in favor of a government or governmental entity to secure partial progress, advance or other payments, or other obligations, pursuant to any contract or statute or
to secure any Debt incurred for the purpose of financing all or any part of the cost of acquiring, constructing or improving the property subject to such Liens (including, without limitation, Liens
incurred in connection with pollution control, industrial revenue, private activity bond or similar financing); 

        (e)   Liens
arising by reason of deposits with, or the giving of any form of security to, any governmental agency or any body created or approved by law or governmental
regulation, which Lien is required by law or governmental regulation as a condition to the transaction of any business or the exercise of any privilege, franchise, license or permit; 

        (f)    Liens
for taxes, assessments or governmental charges or levies not yet delinquent or governmental charges or levies already delinquent, the validity of which charge or
levy is being contested in good faith and for which any reserves required in accordance with generally accepted accounting principles have been established; 

4

 

        (g)   Liens
(including judgment liens) arising in connection with legal proceedings so long as such proceedings are being contested in good faith and, in the case of judgment
liens, execution thereon is stayed and for which any reserves required in accordance with generally accepted accounting principles have been established; 

        (h)   Liens
on any equity interests owned by the Company or by any of its subsidiaries in (i) Rural Cellular Corporation, Vodafone Group plc or any of their respective
successors, or (ii) any other person or persons that are not directly, or indirectly through one or more intermediaries, controlled by the Company or by any of its subsidiaries; 

        (i)    Liens
upon or in any property or assets now owned or from time to time hereafter acquired by the Company or any of its subsidiaries related in any way to the ownership
by the Company or by any of its subsidiaries of wireless telecommunications towers, including, but not limited to, tower structures, land on which towers are located, other real estate associated with
such towers, leases for towers or for tower sites, subleases, licenses, collocation arrangements, easements and all other real property and other tangible or intangible assets related thereto; 

        (j)    Liens
incurred and deposits made in the ordinary course of business to secure surety and appeal bonds, leases, return-on-money bonds and other
similar obligations, exclusive of obligations for the payment of borrowed money; and 

        (k)   any
extension, renewal or replacement (or successive extensions, renewals or replacements) in whole or in part of any Lien referred to in the foregoing clauses
(a) to (j), inclusive; provided, however, that the principal amount of Secured Debt secured
thereby shall not exceed the principal amount of Secured Debt secured thereby at the time of such extension, renewal or replacement, and that such extension, renewal or replacement shall be limited to
all or a part of the property which secured the Lien so extended, renewed or replaced (plus improvements to such property). 

        SECTION
3.2    Limitation on Sale and Leaseback.    The Company will not enter into any Sale and Leaseback Transaction
unless immediately thereafter (and after giving effect to the application of the proceeds, if any, therefrom), the aggregate amount of Capitalized Rent in respect of Sale and Leaseback Transactions,
together with the aggregate principal amount of all Secured Debt (other than Secured Debt described in clauses (a) to (k), inclusive, of Section 3.1), would not exceed 20% of
Consolidated Assets; provided, however, that the foregoing restrictions shall not apply to, and there
shall be excluded in computing the aggregate amount of Capitalized Rent for the purpose of such restrictions, the following Sale and Leaseback Transactions: 

        (a)   any
Sale and Leaseback Transaction entered into to finance the payment of all or any part of the purchase price of property acquired or constructed by the Company
(including any improvements to existing property) or entered into prior to, at the time of or within 270 days after the acquisition or construction of such property, which Sale and Leaseback
Transaction is entered into for the purpose of financing all or part of the purchase or construction price thereof; provided,  however, that in the case of
any such acquisition, such Sale and Leaseback Transaction shall not involve any property transferred by the Company to a
subsidiary of the Company in contemplation of or in connection with such Sale and Leaseback Transaction or involve any property of the Company other than the property so acquired (other than, in the
case of construction or improvement, any theretofore unimproved real property or portion thereof on which the property so constructed, or the improvement, is located); 

        (b)   any
Sale and Leaseback Transaction involving property of a Person existing at the time such Person is merged into or consolidated with the Company or at the time of a
sale, lease or other disposition of the properties of a Person as an entirety or substantially as an entirety to the Company; 

        (c)   any
Sale and Leaseback Transaction in which the lessor is a government or governmental entity and which Sale and Leaseback Transaction is entered into to secure partial
progress, advance or other payments, or other obligations, pursuant to any contract or statute or to secure any Debt 

5

 

incurred
for the purpose of financing all or any part of the cost of constructing or improving the property subject to such Sale and Leaseback Transaction (including, without limitation, Sale and
Leaseback Transactions incurred in connection with pollution control, industrial revenue, private activity bond or similar financing); 

        (d)   any
Sale and Leaseback Transaction involving any property or assets now owned or from time to time hereafter acquired by the Company or any of its subsidiaries related
in any way to the ownership by the Company or by any of its subsidiaries of wireless telecommunications towers, including, but not limited to, tower structures, land on which towers are located, other
real estate associated with such towers, leases for towers or for tower sites, subleases, licenses, collocation arrangements, easements and all other real property and other tangible or intangible
assets related thereto; 

        (e)   any
Sale and Leaseback Transaction the net proceeds of which are at least equal to the fair value (as determined by the Board of Directors of the Company) of the
property leased pursuant to such Sale and Leaseback Transaction, so long as within 270 days of the effective date of such Sale and Leaseback Transaction, the Company applies (or irrevocably
commits to an escrow account for the purpose or purposes hereinafter mentioned) an amount equal to the net proceeds of such Sale and Leaseback Transaction to either (x) the purchase of other
property having a fair value at least equal to the fair value of the property leased in such Sale and Leaseback Transaction and having a similar utility and function, or (y) the retirement or
repayment (other than any mandatory retirement or repayment at maturity) of (i) Notes, (ii) other Funded Debt of the Company which ranks prior to or in a parity with the Notes or
(iii) indebtedness of any subsidiary of the Company maturing by its terms more than one year from its date of issuance (notwithstanding that any portion of such indebtedness is included in
current liabilities) or preferred stock of any subsidiary of the Company (other than any such indebtedness owed to or preferred stock owned by the Company or any subsidiary of the Company);  provided,
however, that in lieu of applying an amount equivalent to all or any part of such net proceeds
to such retirement or repayment (or committing such an amount to any escrow account for such purpose), the Company may deliver to the Trustee Outstanding Notes and thereby reduce the amount to be
applied pursuant to (y) of this clause (e) by an amount equivalent to the aggregate principal amount of the Notes so delivered; and 

        (f)    any
Sale and Leaseback Transaction involving the extension, renewal or replacement (or successive extensions, renewals or replacements) in whole or in part of a lease
pursuant to a Sale and Leaseback Transaction referred to in the foregoing clauses (a) to (e), inclusive; provided,  however, that such lease extension,
renewal or replacement shall be limited to all or any part of the same property leased under the lease so extended,
renewed or replaced (plus improvements to such property). 

ARTICLE FOUR 

ADDITIONAL REMEDIES OF THE TRUSTEE AND

SECURITYHOLDERS ON EVENTS OF DEFAULT 

        SECTION
4.1    Additional Events of Default.    In addition to the "Events of Default" provided for in
Section 6.01 of the Indenture, the following shall also constitute "Events of Default" with respect to the Notes as contemplated by Section 6.01(a)(6) of the Indenture: 

          (i)  a
default occurs under any instrument (including this Indenture) under which there is at the time outstanding, or by which there may be secured or evidenced, any
indebtedness of the Company for money borrowed by the Company (other than non-recourse indebtedness) which results in acceleration (whether by declaration or automatically) of, or the non
payment at maturity (after giving effect to any applicable grace period) of, such indebtedness in an aggregate amount 

6

 

exceeding
2% of Consolidated Assets, in which case the Company shall immediately give notice to the Trustee of such acceleration or non-payment and (ii) there shall have been a
failure to cure such default or to discharge all such defaulted indebtedness within ten days after notice thereof to the Company by the Trustee or to the Company and the Trustee by the Holders of at
least 25% in principal amount of the Notes then Outstanding (excluding, if such defaulted indebtedness includes the Notes, such Notes) and such acceleration shall not be rescinded or annulled;  provided,
however, that it shall not constitute an Event of Default hereunder as long as the Company is
contesting any such default or acceleration in good faith and by appropriate proceedings. 

ARTICLE FIVE 

MISCELLANEOUS PROVISIONS 

        SECTION
5.1    Ratification.    The Indenture, as supplemented and amended by this Supplemental Indenture, is in all
respects hereby adopted, ratified and confirmed 

        SECTION
5.2    Governing Law.    This Fifth Supplemental Indenture shall be governed by, and construed and enforced in
accordance with, the laws of the jurisdiction which govern the Indenture and its construction. 

        SECTION
5.3    Counterparts and Method of Execution.    This Fifth Supplemental Indenture may be executed in several
counterparts, all of which together shall constitute one agreement binding on all parties hereto, notwithstanding that all parties have not signed the same counterpart. 

        SECTION
5.4    Section Titles.    Section titles are for descriptive purposes only and shall not control or alter the
meaning of this Fifth Supplemental Indenture as set forth in the text. 

        SECTION
5.5    Trustee.    The Trustee makes no representations and is not responsible for the sufficiency, validity
or legality of this Fifth Supplemental Indenture. The statements herein are deemed to be those of the Company and not of the Trustee. 

7

        IN
WITNESS WHEREOF, the Parties hereto have caused this Fifth Supplemental Indenture to be duly executed all as of the day and year first above written. 

	

 	
 	

UNITED STATES CELLULAR CORPORATION

a Delaware corporation
	

 	
 	

By:	

    

	 	 	Name:	LeRoy T. Carlson, Jr.
	 	 	Title:	Chairman
	

 	
 	

By:	

    

	 	 	Name:	Kenneth R. Meyers
	 	 	Title:	Executive Vice President—Finance,

Chief Financial Officer and Treasurer
	

 	
 	

BNY MIDWEST TRUST COMPANY,

Trustee, an Illinois Trust Company
	

 	
 	

By:	

    

	 	 	Name:	Mary Callahan
	 	 	Title:	Assistant Vice President

SIGNATURE PAGE TO FIFTH

SUPPLEMENTAL INDENTURE

RE: $100,000,000 OF 6.70% SENIOR NOTES DUE 2033  

EXHIBIT A TO FIFTH SUPPLEMENTAL INDENTURE  

        Unless this certificate is presented by an authorized representative of The Depository Trust Company, a New York corporation ("DTC"), to the issuer or its agent
for registration of transfer, exchange or payment, and any certificate issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of
DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR
TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein. Except as otherwise provided in Section 2.11 of the Indenture, this Security may be
transferred, in whole but not in part, only to another nominee of the Depository or to a successor Depository or to a nominee of such successor Depository. 

	

No.             	
 	

CUSIP: 911684 AD 0

ISIN: US911684AD06

UNITED STATES CELLULAR CORPORATION  

6.70% SENIOR NOTES DUE 2033  

	

Principal Amount:	
 	

$100,000,000	
 	

 
	

Stated Maturity Date:	
 	

December 15, 2033	
 	

 
	

Original Issue Date:	
 	

June 28, 2004	
 	

 
	

Interest Rate:	
 	

6.70% per annum	
 	

 

        UNITED STATES CELLULAR CORPORATION, a corporation duly organized and existing under the laws of the State of Delaware (herein referred to as the "Company", which
term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & CO. or registered assigns, the Principal Amount
specified above on the Stated Maturity Date specified above, and to pay interest on said Principal Amount from June 15, 2004 at the Interest Rate specified above on December 15, 2004 and
thereafter semi-annually on June 15 and December 15 of each year (each an "Interest Payment Date"), until the Principal Amount will have been paid or duly provided for. 

        On
an Interest Payment Date, interest will be paid to the persons in whose names the Notes (as defined below) were registered as of the Record Date (the "Record Date"). With respect to
any Interest Payment Date, while the Notes remain in the form of a Global Security, the Record Date will be one Business Day prior to the relevant Interest Payment Date. 

        The
amount of interest payable for any period will be computed on the basis of twelve 30-day months and a 360-day year. The amount of interest payable for any
period shorter than a full semi-annual interest period will be computed on the basis of the number of days elapsed in a 180-day semi-annual period of six
30-day months. If any Interest Payment Date falls on a Saturday, Sunday, legal holiday or a day on which banking institutions in the City of New York are authorized by law to close, then
payment of interest will be made on the next succeeding business day and no additional interest will accrue because of the delayed payment. 

        Payment
of the principal of this Note and the interest thereon will be made at the office or agency of the Company in the Borough of Manhattan, City and State of New York, in such coin
or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. 

        The
Notes are issuable only in registered form without coupons in denominations of $1,000.00 and any integral multiple thereof. 

 

        The
Notes may be redeemed, in whole or in part, at the option of the Company, at any time or from time to time prior to maturity. The redemption price for the Notes to be redeemed on any
redemption date will be equal to the greater of (i) 100% of the principal amount of the Notes being redeemed on the redemption date; or (ii) the sum of the present values of the
remaining scheduled payments of principal and interest on the Notes being redeemed on that redemption date (not including any portion of any payments of interest accrued to the redemption date)
discounted to the redemption date on a semi-annual basis at the Treasury Rate, as determined by the Reference Treasury Dealer, plus 30 basis points; plus, in each case, accrued and unpaid
interest on the Notes to the redemption date. 

        "Comparable
Treasury Issue" means the United States Treasury security selected by the Reference Treasury Dealer as having a maturity comparable to the remaining term of the Notes to be
redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the
remaining term of the Notes. 

        "Comparable
Treasury Price" means, with respect to any redemption date, (i) the average of the Reference Treasury Dealer Quotations for such redemption date, after excluding the
highest and lowest such Reference Treasury Dealer Quotations, or (ii) if the Trustee obtains fewer than four such Reference Treasury Dealer Quotations, the average of all such quotations. 

        "Reference
Treasury Dealer" means (i) Citigroup Global Markets Inc., Credit Suisse First Boston LLC or J.P. Morgan Securities Inc. (or their successors or affiliates
that are primary U.S. Government securities dealers in New York City (a "Primary Treasury Dealer"), provided, however, that if any of the foregoing shall cease to be a Primary Treasury Dealer, the
Company will substitute therefor another Primary Treasury Dealer; or (ii) any other Primary Treasury Dealer(s) selected by the Company. 

        "Reference
Treasury Dealer Quotation" means, with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Trustee, of the bid and asked
prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in
writing to the Trustee by such Reference Treasury Dealer at 5:00 p. m. (New York City time) on the third business day preceding such redemption date. 

        "Treasury
Rate" means, with respect to any redemption date, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue,
assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such redemption date. 

        The
redemption price will be calculated on the basis of a 360-day year consisting of twelve 30-day months. The Company will mail notice of any redemption at least
30 days but not more than 60 days before the redemption date to each registered holder of the Notes to be redeemed. Once notice of redemption is mailed, the Notes called for redemption
will become due and payable on the redemption date and at the applicable redemption price, plus accrued and unpaid interest to the redemption date. 

        On
and after the redemption date, interest will cease to accrue on the Notes or any portion of the Notes called for redemption (unless the Company defaults in the payment of the
redemption price and accrued interest). On or before the redemption date, the Company will deposit with a paying agent (or the Trustee) money sufficient to pay the redemption price of and accrued
interest on the Notes to be redeemed on that date. If less than all of the Notes are to be redeemed, the Notes to be redeemed shall be selected by lot by The Depository Trust Company, in the case of
Notes represented by a Global Note, or by the Trustee by a method the trustee deems to be fair and appropriate, in the case of Notes that are not represented by a Global Note. 

        In
case of any partial redemption, selection of the Notes for redemption will be made by the Trustee on a pro rata basis, by lot or by such other method as the Trustee in its sole
discretion shall 

2

 

deem
to be fair and appropriate, although no Note of $1,000.00 in principal amount at maturity or less shall be redeemed in part. If any Note is to be redeemed in part only, the notice of redemption
relating to such Note shall state the portion of the principal amount thereof to be redeemed. A new Note in principal amount at maturity equal to the unredeemed portion thereof will be issued in the
name of the holder thereof upon cancellation of the original Note. 

        This
Note is one of a duly authorized series of Securities of the Company, issuable in one or more series under and pursuant to an Indenture dated as of June 1, 2002 duly executed
and delivered between the Company and BNY Midwest Trust Company, as Trustee (herein referred to as the "Trustee"), and have been designated pursuant to the Fifth Supplemental Indenture thereto dated
June 21, 2004 (such Indenture, as originally executed and delivered and as thereafter supplemented and amended being herein after referred to as the "Indenture"). Reference is made to the
Indenture and all indentures supplemental thereto for a description of the rights, limitations of rights, obligations,
duties and immunities thereunder of the Trustee, the Company and the holders of the Notes. By the terms of the Indenture, Securities are issuable in series which may vary as to amount, date of
maturity, rate of interest and in other respects as in the Indenture provided. This Note is one of the series of Securities designated on the face hereof. This Note is a further issuance of the
Company's 6.70% Senior Notes due 2033 initially issued on December 8, 2003, in the aggregate principal amount of $444,000,000. This Note has the same CUSIP number and the same terms as such
previously issued Notes other than the issuance date, first interest payment date and issue price. This Note shall be deemed to be part of the same series as the Notes initially issued on
December 8, 2003 and the holder of this Note shall have the right to vote with holders of the previously issued Notes. 

        Notes
may be exchanged upon presentation thereof at the office or agency of the Company designated for such purpose, for other Notes of authorized denominations, and for a like aggregate
principal amount, upon payment of a sum sufficient to cover any tax or other governmental charge in relation thereto, all as provided in the Indenture. In respect of any Notes so surrendered for
exchange, the Company will execute, the Trustee will authenticate and such office or agency will deliver in exchange therefor the Note or Notes of the same series which the Securityholder making the
exchange will be entitled to receive, bearing numbers not contemporaneously outstanding. 

        The
Company will keep, or cause to be kept, at its office or agency designated for such purpose in the Borough of Manhattan, the City and State of New York, or such other location
designated by the Company a register or registers (herein referred to as the "Note Register") in which, subject to such reasonable regulations as it may prescribe, the Company will register the Notes
and the transfers of Notes. The registrar for the purpose of registering Notes and transfer of Notes will initially be the Trustee or such other person as may be subsequently appointed as authorized
by Board Resolution or Company Order (the "Note Registrar"). 

        Upon
surrender for transfer of any Note at the office or agency of the Company designated for such purpose in the Borough of Manhattan, the City and State of New York, or other location
as aforesaid, the Company will execute, the Trustee will authenticate and such office or agency will deliver in the name of the transferee or transferees a new Note or Notes presented for a like
aggregate principal amount. 

        All
Notes presented or surrendered for exchange or registration of transfer will be accompanied (if so required by the Company or the Note Registrar) by a written instrument or
instruments of transfer, in form satisfactory to the Company or the Note Registrar, duly executed by the registered holder or by his duly authorized attorney in writing. 

        Except
as provided in the Indenture, no service charge will be assessed for any exchange or registration of transfer of Notes, or issue of new Notes in case of partial redemption, but
the Company may require payment of a sum sufficient to cover any tax or other governmental charge in relation thereto as provided in the Indenture. 

3

 

        The
Company will neither be required (i) to issue, exchange or register the transfer of any Notes during a period beginning at the opening of business 15 days before the
day of the mailing of a notice of redemption of less than all the outstanding Notes and ending at the close of business on the day of such mailing, nor (ii) to register the transfer of or
exchange any Notes or portions thereof called for redemption. 

        As
long as this Note is represented in global form (the "Global Security") registered in the name of The Depository Trust Company or its nominee, except as provided in the Indenture and
subject to certain limitations therein set forth, no Global Security shall be exchangeable or transferable. 

        So
long as any Notes remain outstanding, the Company agrees to maintain an office or agency with respect to each such series, which will be in the Borough of Manhattan, the City and
State of New York or at such other location or locations as may be designated as provided in the Indenture, where (i) Notes may be presented for payment, (ii) Notes may be presented as
for registration of transfer and exchange, and (iii) notices and demands to or upon the Company in respect of the Securities of that series and this Indenture may be given or served, such
designation to continue with respect to such office or agency until the Company will, by written notice signed by an Authorized Officer and delivered to the Trustee, designate some other office or
agency for such purposes or any of them. The Company may also from time to time designate one or more other offices or agencies for the foregoing purposes within or outside the Borough of Manhattan,
City of New York, and may from time to time rescind such designations. 

        The
Trustee or its agent at its offices in New York, New York will initially act as Notes Registrar and paying agent for the Notes. 

        The
Notes are not subject to any sinking fund. 

        If
an Event of Default (as defined in the Indenture) with respect to the Notes shall occur and be continuing, the principal plus any accrued interest may be declared due and payable in
the manner and with the effect and subject to the conditions provided in the Indenture. 

        The
Indenture contains provisions for defeasance at any time of the entire indebtedness of this Note upon compliance by the Company with certain conditions set forth therein. 

        Prior
to the due presentment for registration of transfer of any Notes, the Company, the Trustee, any paying agent and any Note Registrar may deem and treat the person in whose name such
Note will be registered upon the books of the Company as the absolute owner of such Note (whether or not such Note will be overdue and notwithstanding any notice of ownership or writing thereon made
by anyone other than the Note Registrar) for the purpose of receiving payment of or on account of the principal of and premium, if any, and (subject to the Indenture) interest on such Note and for all
other purposes; and neither the Company nor the Trustee nor any paying agent nor any Note Registrar will be affected by any notice to the contrary. 

        The
Company and the Trustee may execute supplemental indentures without the consent of any holder of Notes for certain purposes as specified in the Indenture and with the consent of the
holders of not less than a majority in aggregate principal amount of the Securities for certain other purposes as specified in the Indenture. 

        No
recourse will be had for the payment of the principal of or the interest on this Note, or for any claim based hereon, or otherwise in respect hereof, or based on or in respect of the
Indenture, against any incorporator, stockholder, officer or director, past, present or future, as such, of the Company or of any predecessor or successor corporation, whether by virtue of any
constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the consideration for the
issuance hereof, expressly waived and released. 

4

 

        THIS NOTE WILL BE DEEMED TO BE A CONTRACT UNDER THE LAWS OF THE STATE OF ILLINOIS, AND FOR ALL PURPOSES WILL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF SUCH
STATE, EXCEPT AS MAY OTHERWISE BE REQUIRED BY MANDATORY PROVISIONS OF LAW.

        All
terms used in this Note which are defined in the Indenture will have the meanings assigned to them in the Indenture. 

        This
Note will not be entitled to any benefit under the Indenture hereinafter referred to, be valid or become obligatory for any purpose until the Certificate of Authentication hereon
will have been signed by or on behalf of the Trustee. 

5

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

	

 	

 	

UNITED STATES CELLULAR CORPORATION

a Delaware corporation
	

 	

 	

By:	

    

	

 	
 	

Name:	

LeRoy T. Carlson, Jr.
	

 	
 	

Title:	

Chairman
	

 	

 	

By:	

    

	

 	
 	

Name:	

Kenneth R. Meyers
	

 	
 	

Title:	

Executive Vice President—Finance,

Chief Financial Officer and Treasurer

TRUSTEE'S CERTIFICATE OF AUTHENTICATION  

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

	

Dated:	
 	

    
	
 	

 
	

BNY Midwest Trust Company, as Trustee	

 	

 
	

By:	
 	

    
 Authorized Signatory

	
 	

 

SIGNATURE PAGE TO

GLOBAL SECURITY FOR $100,00,000 OF

6.70% SENIOR NOTES DUE 2033

OF UNITED STATES CELLULAR CORPORATION  

 ASSIGNMENT FORM  

To assign this Note, fill in the form below: 

	

I or we assign and transfer this Note to
	

 	
 	

    

	

Insert assignee's Social Security or tax I.D. no.
	

    

	
Print or type assignee's name, address and zip code)
	

    

	

    

	

    

	
 and all rights thereunder and irrevocably appoint	
 	

 
	

    

	

agent to transfer this Note on the books of the Company. The agent may substitute another to act for him.
	

    

	

    

	

Dated:	
 	

    
	
 	

    

	

 	
 	

 	
 	
Notice: The signature to this assignment must correspond with the name as it appears on the first page of the within Note.

QuickLinks

Exhibit 4.1

FIFTH SUPPLEMENTAL INDENTUREQuickLinks
 -- Click here to rapidly navigate through this document

 
 

Exhibit 4.2    
    

PUBLIC
SERVICE COMPANY

OF NEW HAMPSHIRE

AND

WACHOVIA BANK, NATIONAL ASSOCIATION 

Successor
to FIRST UNION NATIONAL BANK 

Formerly
Known as FIRST FIDELITY BANK, NATIONAL ASSOCIATION,

NEW JERSEY 

Successor
to BANK OF NEW ENGLAND, NATIONAL ASSOCIATION

(Formerly Known as NEW ENGLAND MERCHANTS NATIONAL BANK)

and to

NEW BANK OF NEW ENGLAND, NATIONAL ASSOCIATION, TRUSTEE 

                        SUPPLEMENTAL
INDENTURE

Dated as of            , 2004 

TO
ISSUE SERIES   

FIRST MORTGAGE BONDS 

$    ,000,000
First Mortgage Bonds (Series    ) 

  

 
 

TABLE OF CONTENTS    
    

	 
	 	Page
 

	Date and Parties	 	 
	 	Recitals	 	1
	 	Granting Clauses	 	1
	 	Exceptions	 	1
	 	Habendum	 	1
	 	Declaration in Trust	 	1
	 	 	 
	ARTICLE 1—Series            Bonds	 	7
	 	1.01.    Designation; Amount	 	7
	 	1.02.    Form of Bonds of 2004 Series            	 	7
	 	1.03.    Provisions of Bonds of 2004 Series    ; Interest Accrual	 	7
	 	1.04.    Transfer and Exchange of Bonds of Series            	 	7
	 	1.05.    Redemption of the Series    Bonds	 	8
	 	1.06.    Payment Date Not a Business Day	 	8
	 	 	 
	ARTICLE 2—MISCELLANEOUS	 	8
	 	2.01.    Recitals	 	8
	 	2.02.    Benefits of Supplemental Indenture	 	8
	 	2.03.    Effect of Supplemental Indenture	 	8
	 	2.04.    Termination	 	9
	 	2.05.    Trust Indenture Act	 	9
	 	2.06.    Counterparts	 	9
	 	2.07.    Notices	 	9

Testimonium

Signatures 

Schedule A—Form
of Series    Bonds

Schedule B—Description of Certain Properties Acquired Since            .

Acknowledgments

Endorsement

ii

        THIS                        SUPPLEMENTAL INDENTURE dated as
of                        , 20    , between PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE (hereinafter with its
successors and assigns
generally called the Company), a corporation duly organized and existing under the laws of The State of New Hampshire, having its principal place of business at 780 North Commercial Street in
Manchester, New Hampshire 03101, and WACHOVIA BANK, NATIONAL ASSOCIATION, successor to First Union National Bank, formerly known as First Fidelity Bank, National Association, New Jersey, successor to
Bank of New England, National Association (formerly known as New England Merchants National Bank) and to New Bank of New England, National Association, said Wachovia Bank, National Association
(hereinafter with its successors generally called the Trustee), being a national banking association duly organized and existing under the laws of the United States of America, having acorporate trust
office at 21 South Street, Third Floor, Morristown, New Jersey 07960, and duly authorized to execute the trusts hereof. 

        WHEREAS,
the Company heretofore duly executed and delivered to Bank of New England, National Association (formerly known as New England Merchants National Bank), as predecessor trustee,
its General and Refunding Mortgage Indenture (hereinafter, as amended by the Tenth Supplemental Indenture dated as of May 1, 1991, generally referred to as the "Original Indenture" and
sometimes referred to, with each and every prior indenture supplemental thereto and each and every other instrument, including
this                        Supplemental Indenture, which the Company, pursuant
to the provisions thereof, may execute with the Trustee and which is therein stated to be supplemental to the Original Indenture, as the "Indenture"), dated as of August 15, 1978, but actually
executed on September 20, 1978, and recorded, among other places, in Hillsborough County, New Hampshire, Registry of Deeds, Book 2640, Page 334, in York County, Maine, Registry of Deeds, Book
2417, Page 01, in Concord, Vermont, Land Records, Book 44, Page 129A, and in the Office of the Secretary of the State of Connecticut in Volume 56, Page G of Railroad Mortgages (together with
certificates with respect thereto recorded in the Town Clerk's offices of Waterford and Berlin, Connecticut), to which this instrument is supplemental, and in modification and confirmation thereof has
executed and delivered to (i) Bank of New England, National Association (formerly known as New England Merchants National Bank) as predecessor trustee nine duly recorded indentures supplemental
thereto, and (ii) to First Fidelity Bank, National Association, New Jersey, a Tenth Supplemental Indenture dated as of May 1, 1991 (hereinafter generally referred to as the Tenth
Supplemental Indenture) thereto duly recorded, whereby substantially all the properties of the Company used by it in its business, whether then owned or thereafter acquired, with certain reservations,
exceptions and exclusions fully set forth in the Original Indenture were given, granted, bargained, sold, transferred, assigned, pledged, mortgaged and conveyed to the Trustee, its successors and
assigns, in trust upon the terms and conditions set forth therein to secure its General and Refunding Mortgage Bonds issued and to be issued thereunder, and for other purposes more particularly
specified therein; and 

        WHEREAS,
on January 6, 1991, Bank of New England, National Association was declared insolvent, and New Bank of New England, National Association, pursuant to a purchase and
assumption agreement dated as of January 6, 1991 between it and the Federal Deposit Insurance Corporation as receiver of Bank of New England, National Association, acquired and succeeded to all
of the right, title, interest, authority and appointment of Bank of New England, National Association, as Trustee under the Indenture, which succession and appointment were ratified and confirmed by
the Board of Directors of the Company on February 21, 1991, all as more particularly recited in the Agreement as to Resignation of Trustee and Appointment of Successor Trustee (the "Resignation
and Appointment
Agreement"), by and among the Company, New Bank of New England, National Association, and First Fidelity Bank, National Association, New Jersey, recorded with the Tenth Supplemental Indenture; and 

        WHEREAS,
pursuant to the Resignation and Appointment Agreement, New Bank of New England, National Association resigned as successor trustee and First Fidelity Bank, National Association,
New Jersey succeeded to the trusts created by the Indenture; and 

        WHEREAS,
First Fidelity Bank, National Association, New Jersey was succeeded by First Union National Bank; and 

 

        WHEREAS,
pursuant to The Third Amended Joint Plan of Reorganization (the "Plan"), dated December 28, 1989 (Case No. 88-00043), as confirmed by order of the
United States Bankruptcy Court for the District of New Hampshire dated April 20, 1990, all bonds outstanding under the First Mortgage Indenture dated as of January 1, 1943, as from time
to time amended and supplemented, between the Company and Old Colony Trust Company, as trustee (to which each of The First National Bank of Boston and Maryland National Bank has been successor
trustee) have been paid in full and said First Mortgage Indenture has been released and is of no further force or effect, all bonds outstanding under the Third Mortgage Indenture dated as of
February 15, 1986, as from time to time amended and supplemented, between the Company and First Fidelity Bank, National Association, New Jersey, as trustee, have been paid in full and said
Third Mortgage Indenture has been released and is of no further force or effect, and all bonds issued prior to the date of execution of the Tenth Supplemental Indenture and outstanding under the
Indenture have been paid in full; and 

        WHEREAS,
the actions contemplated by the Resignation and Appointment Agreement and the Tenth Supplemental Indenture have been authorized and directed by Order of the United States
Bankruptcy Court for the District of New Hampshire dated January 18, 1991 in Case No. 88-00043, which Order authorized certain transactions and procedures necessary to
consummate the Plan and approved certain modifications of the Plan related thereto; and 

        WHEREAS,
all applicable requirements of the Plan and said Order have been complied with; and 

        WHEREAS,
pursuant to the Tenth Supplemental Indenture the Company effected the amendments to the Indenture specified in the Tenth Supplemental Indenture, including amendments to reflect
the release and discharge of the Company's First Mortgage Indenture dated as of January 1, 1943, as supplemented and amended, and to reflect that, as a result, the Indenture is now a First
Mortgage Indenture, the bonds issued and to be issued under the Indenture will be First Mortgage Bonds of the Company, and the Original Indenture as it may heretofore and hereafter be supplemented and
amended shall henceforth be known and referred to as the Company's First Mortgage Indenture dated as of August 15, 1978; and 

        WHEREAS,
the Company by appropriate and sufficient corporate action in conformity with the terms of the Indenture duly caused to be issued seven new series of bonds under the Indenture
designated First Mortgage Bonds, Series A through G, said Series A through Series G Bonds being in an aggregate principal amount of $858,985,000 and consisting of fully registered
bonds containing the terms and provisions duly fixed and determined by the Board of Directors of the Company and expressed in Schedule B to the Tenth Supplemental Indenture; and 

        WHEREAS,
on May 15, 1996, $172,500,000 aggregate principal amount of the Company's 87/8% First Mortgage Bonds, Series A, matured and were paid and canceled;
and 

        WHEREAS,
as of April 1, 1998 the Company by appropriate and sufficient corporate action in conformity with the terms of the Indenture duly caused to be issued a new series of
bonds under the Indenture designated as First Mortgage Bonds, Series H, said Series H Bonds being in an aggregate principal amount of $75,000,000 and containing the terms and provisions
duly fixed and determined by the Board of Directors of the Company and expressed in Schedule A to the Eleventh Supplemental Indenture; and 

        WHEREAS,
on May 15, 1998, $170,000,000 aggregate principal amount of the Company's 9.17% First Mortgage Bonds, Series, B, matured and were paid and canceled; and 

        WHEREAS,
on April 22, 1999, the Revolving Credit Agreement dated as of April 23, 1998 (the "Credit Agreement") terminated, the Credit Borrowings thereunder were
indefeasibly paid in full in accordance with the terms thereof and the obligations of the several Lenders to make advances to the Company under the Credit Agreement were terminated; the bonds of
Series H were deemed paid and all obligations of the Company to pay the principal of, premium, if any, and interest on the bonds of 

2

 

Series H
was satisfied and discharged; and the $75,000,000 aggregated principal amount of the Company's First Mortgage Bonds, Series H, were canceled; and 

        WHEREAS,
as of March 30, 2001 the Company sold its interest in the Millstone II Nuclear Generating Station, located in Waterford, Connecticut, and with the sale of said property,
no longer owns any property located in Connecticut which is subject to the lien of the Indenture, and is no longer subject to the jurisdiction of the Connecticut Department of Public Utilities
Control; and 

        WHEREAS,
pursuant to the Series A, B and C Loan and Trust Agreements dated October 1, 2001 (herein called the "Series A, B and C PCRB Agreements"), by and among the
Business Finance Authority of the State of New Hampshire (herein called "the Authority"), the Company and the State Street Bank and Trust Company, as trustee (herein called the "Series A, B and
C PCRB Trustee"), the Authority issued concurrently: $89,250,000 in principal amount of its Pollution Control Revenue Bonds (Public Service Company of New Hampshire Project—2001 Tax Exempt
Series A)(herein called the "Series A PCR Bonds") and loaned the proceeds from the sale of the Series A PCR Bonds to the Company. Proceeds of the loan were used to refund
(i) the Authority's $66,000,000 aggregate principal amount 7.65% Pollution Control Revenue Bonds (Public Service Company of New Hampshire Project—1991 Tax-Exempt
Series A)(the "1991 Series A Bonds"), and (ii) a portion of the Authority's $112,500,000 aggregate principal amount 7.65% Pollution Control Revenue Bonds (Public Service Company
of New Hampshire Project—1991 Tax-Exempt Series C)(the "1991 Series C Bonds"); $89,250,000 in principal amount of its Pollution Control Revenue Bonds (Public
Service Company of New Hampshire Project—2001 Tax-Exempt Series B) (herein called the "series B PCR Bonds") and loaned the proceeds from the sale of the
Series B PCR Bonds to the Company. Proceeds of the loan were used to refund a portion of the 1991 Series C Bonds; and $108,985,000 in principal amount of its Pollution Control Revenue
Bonds (Public Service Company of New Hampshire Project—2001 Tax Exempt Series C) (herein called the "Series C PCR Bonds") and loaned the proceeds from the sale of the
Series C PCR Bonds to the Company. Proceeds of the loan were used to refund the Authority's $108,985,000 aggregate principal amount 7.50% Pollution Control Revenue Bonds (Public Service Company
of New Hampshire Project—1991 Tax-Exempt Series B)(the "1991 Series B Bonds"). The proceeds of the 1991 Series A, B and C PCR Bonds were used to finance
and refinance a portion of the Company's share of expenditures, including financing costs, relating to the construction of certain pollution control, sewage and/or solid waste disposal facilities
required for the operation of the Seabrook nuclear-fueled, steam electric generating plant located in Seabrook, New Hampshire, in which the Company owned and undivided 35.6% interest; and 

        WHEREAS,
the Series A, B and C Bonds were special obligations of the Authority, payable solely out of the revenues and other receipts, funds and moneys derived by the Authority
under the Series A, B and C Agreements and from any amounts otherwise available under the Series A, B and C Agreements for the payment of the Series A, B and C Bonds, and such
revenues and other receipts, funds moneys and amounts are, pursuant to the Series A, B and C PCRB Agreements, assigned and pledged by the Authority to the Series A, B and C PCRB Trustee
as security for the Series A, B and C PCR Bonds and include loan payments required to be made by the Company to the Series A, B and C PCRB Trustee for the account of the Authority
pursuant to the Series A, B and C PCRB Agreements in amounts equal to the amounts payable with respect to the Series A, B and C Bonds; and 

        WHEREAS,
in consideration of the loan being provided by the Authority under, and pursuant to the provisions of, the Series A, B and C PCRB Agreements, the Company issued:
$89,250,000 principal amount of its First Mortgage Bonds, Series I (hereinafter generally referred to as the "Series I Bonds" or the "bonds of Series I") to evidence and secure the
Company's obligation under the Series A PCRB Agreement to make loan payments as aforesaid and to provide security for the Series A PCR Bonds; $89,250,000 principal amount of its First
Mortgage Bonds, Series J (hereinafter generally referred to as the "Series J Bonds" or the "bonds of Series J") to evidence and secure the Company's obligation under the Series B
PCRB Agreement to make loan payments as aforesaid and to provide security for 

3

 

the
Series B PCR Bonds; and $108,985,000 principal amount of its First Mortgage Bonds, Series K (hereinafter generally referred to as the "Series K Bonds" or the "bonds of Series
K") to evidence and secure the Company's obligation under the Series C PCRB Agreement to make loan payments as aforesaid and to provide security for the Series C PCR Bonds; and 

        WHEREAS,
the execution and delivery of the Twelfth Supplemental Indenture and the issue of not exceeding Eighty Nine Million Two Hundred Fifty Thousand Dollars ($89,250,000) in aggregate
principal amount of bonds of Series I, Eighty Nine Million Two Hundred Fifty Thousand Dollars ($89,250,000) in aggregate principal amount of bonds Series J and One Hundred Eight Million
Nine Hundred Eighty Five Thousand Dollars in aggregate principal amount of bonds of Series K, and other necessary actions were duly authorized by the Executive Committee of the Board of
Directors of the Company; and 

        WHEREAS,
as a result of a merger, First Union National Bank changed its name to Wachovia Bank, National Association and remains as Trustee under the Indenture; and 

        WHEREAS,
the Company has purchased, constructed or otherwise acquired certain additional property not heretofore specifically described in the Indenture but which is and is intended to
be subject to the lien thereof, and proposes specifically to subject such additional property to the lien of the Indenture at this time; and 

        WHEREAS,
the execution and delivery of this                        Supplemental Indenture and the issue of not
exceeding            Million Dollars ($    ,000,000) in aggregate
principal amount of bonds of Series    , and other necessary actions have been duly authorized by the Board of Directors of the Company; and 

        WHEREAS,
the Company proposes to execute and deliver this Supplemental Indenture to provide for the issue of the bonds of Series    and confirm the lien of the Indenture on
the property referred to below, all as permitted by Section 15.1 of the Original Indenture; and 

        WHEREAS,
all acts and things necessary to make the initial issue of the Series    Bonds, when executed by the Company and authenticated by the Trustee and delivered as in the
Original Indenture provided, the legal, valid and binding obligations of the Company according to their terms and to make
this                        Supplemental Indenture a legal, valid and binding
instrument for the security of the bonds, in accordance with its and their terms, have been done and performed, and the execution and delivery of
this                        Supplemental Indenture has in all
respects been duly authorized; 

        NOW,
THEREFORE, in consideration of the premises, and of the acceptance of said Series    First Mortgage Bonds by the holder thereof, and of the sum of $1.00 duly paid by the
Trustee to the Company, and of other good and valuable considerations, the receipt whereof is hereby acknowledged, and in confirmation of and supplementing the Original Indenture as previously
supplemented by said twelve preceding supplemental indentures, and in performance of and compliance with the provisions thereof, said Public Service Company of New Hampshire, by these presents, does
give, grant, bargain, sell, transfer, assign, pledge, mortgage and convey unto Wachovia Bank, National Association, as Trustee, as provided in the Original Indenture, as previously supplemented and
amended and as supplemented by this                        Supplemental Indenture, and its successor or successors in the trust
thereby and hereby created, and its and their assigns, (a) all and
singular the property, and rights and interests in property, described in the Original Indenture and the twelve preceding supplemental indentures (said supplemental indentures, in each case as amended
by the Tenth Supplemental Indenture, hereinafter referred to as the Preceding Supplemental Indentures), and thereby conveyed, pledged, assigned, transferred and mortgaged, or intended so to be (said
descriptions in said Original Indenture and the Preceding Supplemental Indentures being hereby made a part hereof to the same extent as if set forth herein at length), whether then or now owned or
thereafter or hereafter acquired, except such of said properties or interests therein as may have been released or sold or disposed of in 

4

 

whole
or in part as permitted by the provisions of the Original Indenture, and (b) also, but without in any way limiting the generality of the foregoing, all the right, title and interest of
the Company, now owned or hereafter acquired, in and to the rights, titles, interests and properties described or referred to in Schedule B hereto attached and hereby made a part hereof as
fully as if set forth herein at length, in all cases not specifically reserved, excepted and excluded; the foregoing property, and rights and interests in property, being located in the following
listed municipalities in New Hampshire and unincorporated areas in Coos County, New Hampshire, as well as in various municipalities in the States of Maine, Vermont and elsewhere: 

        BELKNAP
COUNTY—Alton, Barnstead, Belmont, Center Harbor, Gilford, Gilmanton, Laconia, Meredith, New Hampton, Sanbornton, Tilton; 

        CARROLL
COUNTY—Albany, Brookfield, Chatham, Conway, Eaton, Effingham, Freedom, Madison, Moultonboro, Ossipee, Sandwich, Tamworth, Tuftonboro, Wakefield, Wolfeboro; 

        CHESHIRE
COUNTY—Alstead, Chesterfield, Dublin, Fitzwilliam, Gilsum, Harrisville, Hinsdale, Jaffrey, Keene, Marlborough, Marlow, Nelson, Richmond, Rindge, Roxbury, Stoddard,
Sullivan, Surry, Swanzey, Troy, Westmoreland, Winchester; 

        COOS
COUNTY—Bean's Grant, Berlin, Cambridge, Carroll, Chandler's Purchase, Clarksville, Colebrook, Columbia, Crawford's Purchase, Dalton, Dummer, Errol, Gorham, Green's
Grant, Jefferson, Lancaster, Martin's Location, Milan, Millsfield, Northumberland, Pinkham's Grant, Pittsburg, Randolph, Shelburne, Stark, Stewartstown, Stratford, Success, Thompson & Meserve's
Purchase, Wentworth's Location, Whitefield; 

        GRAFTON
COUNTY—Alexandria, Ashland, Bath, Bethlehem, Bridgewater, Bristol, Campton, Easton, Enfield, Franconia, Grafton, Haverhill, Hebron, Holderness, Landaff, Lincoln,
Lisbon, Littleton, Lyman, Lyme, Orange, Orford, Piermont, Plymouth, Rumney, Sugar Hill, Thornton, Woodstock; 

        HILLSBOROUGH
COUNTY—Amherst, Antrim, Bedford, Bennington, Brookline, Deering, Francestown, Goffstown, Greenfield, Greenville, Hancock, Hillsborough, Hollis, Hudson,
Litchfield, Lyndeborough, Manchester, Mason, Merrimack, Milford, Mont Vernon, Nashua, New Boston, New Ipswich, Pelham, Peterborough, Sharon, Temple, Weare, Wilton, Windsor; 

        MERRIMACK
COUNTY—Allenstown, Andover, Boscawen, Bow, Bradford, Canterbury, Chichester, Concord, Danbury, Dunbarton, Epsom, Franklin, Henniker, Hill, Hooksett, Hopkinton,
Loudon, Newbury, New London, Northfield, Pembroke, Pittsfield, Salisbury, Sutton, Warner, Webster, Wilmot; 

        ROCKINGHAM
COUNTY—Auburn, Atkinson, Brentwood, Candia, Chester, Danville, Deerfield, Derry, East Kingston, Epping, Exeter, Fremont, Greenland, Hampstead, Hampton, Hampton
Falls, Kensington, Kingston, Londonderry, New Castle, Newfields, Newington, Newmarket, Newton, North Hampton, Northwood, Nottingham, Portsmouth, Raymond, Rye, Sandown, Seabrook, South Hampton,
Stratham, Windham; 

        STRAFFORD
COUNTY—Barrington, Dover, Durham, Farmington, Lee, Madbury, Middleton, Milton, New Durham, Rochester, Rollinsford, Somersworth, Strafford; 

        SULLIVAN
COUNTY—Charlestown, Claremont, Cornish, Croydon, Goshen, Grantham, Lempster, Newport, Plainfield, Springfield, Sunapee, Unity, Washington; 

        SUBJECT,
HOWEVER, as to all of the foregoing, to the specific rights, privileges, liens, encumbrances, restrictions, conditions, limitations, covenants, interests, reservations,
exceptions and otherwise as provided in the Original Indenture and the Preceding Supplemental Indentures, and in the 

5

 

descriptions
in the schedules thereto and hereto and in the deeds or grants in said schedules referred to; 

        BUT
SPECIFICALLY RESERVING, EXCEPTING AND EXCLUDING (as the same are reserved, excepted and excluded from the lien of the Original Indenture and the Preceding Supplemental Indentures
from this instrument and the grant, conveyance, mortgage, transfer and assignment herein contained, all right, title and interest of the Company, now owned or hereafter acquired, in and to the
properties and rights specified in subclauses (a) to (m), both inclusive, of the paragraph beginning "BUT SPECIFICALLY RESERVING, EXCEPTING AND EXCLUDING..." which paragraph is part of the
granting clauses of the Original Indenture; 

        TO
HAVE AND TO HOLD all said plant, premises, property, franchises and rights hereby conveyed, assigned, pledged or mortgaged, or intended so to be, unto the Trustee, its successor or
successors in trust, and to its and their assigns forever; 

        BUT
IN TRUST, NEVERTHELESS, with power of sale, for the equal pro rata benefit, security and protection of the owners of the bonds without any preference, priority or distinction
whatever of any one bond over any other bond by reason of priority in the issue, sale or negotiation thereof, or otherwise; 

        PROVIDED,
HOWEVER, and these presents are upon the condition, that if the Company shall pay or cause to be paid or make appropriate provision for the payment unto the holders of the
bonds of the principal, premium, if any, and interest to become due thereon at the times and in the manner stipulated therein, and shall keep, perform and observe all and singular the covenants,
agreements and provisions in the Indenture expressed to be kept, performed and observed by or on the part of the Company, then the Indenture and the estate and rights thereby and hereby granted shall,
pursuant and subject to the provisions of Article 16 of the Original Indenture, cease, determine and be void, but otherwise shall be and remain in full force and effect. 

        AND
IT IS HEREBY COVENANTED, DECLARED AND AGREED, upon the trusts and for the purposes aforesaid, as set forth in the following covenants, agreements, conditions and provisions, viz.: 

6

  

 
 

ARTICLE 1
  SERIES    BONDS    
    

        SECTION
1.01.    Designation; Amount.    The bonds of Series    shall be designated "First Mortgage Bonds,
Series    " and, subject to Section 2.10 of the Original Indenture, shall not exceed            Million Dollars ($    ,000,000) in aggregate
principal amount at any
one time outstanding. The Trustee shall authenticate and deliver up to $    ,000,000 aggregate principal amount of Series    Bonds at any time upon application by the Company and
compliance with the applicable provisions of the Original Indenture. 

        SECTION
1.02.    Form of Bonds of 200    Series    .    The bonds of Series    shall
be issued only in fully registered form without coupons in denominations of $1,000 and multiples thereof. The Bonds of Series    and the certificate of the Trustee upon said bonds shall be
substantially in the forms thereof respectively set forth in Schedule A appended hereto. 

        SECTION
1.03.    Provisions of Bonds of 20    Series    ; Interest Accrual.    The bonds of
Series    shall mature on                        , 20    , and shall bear interest,
payable on the interest payment dates applicable from time to time to the Series    Bonds,
until the Company's obligation in respect of the principal thereof shall be discharged, in amounts equal to the interest payments due on the Series    Bonds, and shall be payable both as
to principal and interest at the corporate trust office of the Trustee at Wachovia Bank, National Association in Charlotte, North Carolina or the corporate trust office of its successors, in any coin
or currency of the United States of America which at the time of payment is legal tender for the payment of public and private debts. The interest on the Series    Bonds, whether in
temporary or definitive form, shall be payable without presentation of such bonds, and only to or upon the written order of the registered holders thereof of record at the applicable record date. The
Series    Bonds shall be callable for redemption in whole or in part according to the terms and provisions provided herein in Section 1.05. 

        Each
Series    Bond shall be dated the date of authentication thereof by the Trustee, and shall bear interest on the principal amount thereof from the interest payment date
next preceding the date thereof to which interest has been paid on the Bonds of said series, or if the date thereof is prior to the record date (as hereinafter defined) with respect to the first
interest payment date then from the date of original issue of the Series    Bonds, or if the date thereof be an interest payment date to which
interest is being paid or a date between the record date for any such interest payment date and such interest payment date, then from such interest payment date. 

        The
person in whose name any bond of Series    is registered at the close of business on any record date (as hereinafter defined) with respect to any interest payment date
shall be entitled to receive the interest payable on such interest payment date notwithstanding the cancellation of such bond upon any registration of transfer or exchange thereof subsequent to the
record date and prior to such interest payment date, except that if and to the extent the Company shall default in the payment of the interest due on such interest payment date, then such defaulted
interest shall be paid to the person in whose name such bond is registered on a subsequent record date for the payment of defaulted interest if one shall have been established as hereinafter provided
and otherwise on the date of payment of such defaulted interest. A subsequent record date may be established by the Company by notice mailed to the owners of the bonds of Series    not
less than ten (10) days preceding such record date, which record date shall not be more than thirty (30) days prior to the subsequent interest payment date. The term "record date" as
used in this Section with respect to any regular interest payment date shall mean the day next preceding such interest payment date, or if such day shall not be a Business Day, the next preceding day
which shall be a Business Day. 

        SECTION
1.04.    Transfer and Exchange of Bonds of Series    .    The bonds of
Series            may
be surrendered for registration of transfer as provided in Section 2.8 of the Original Indenture as 

7

 

amended
by the Tenth Supplemental Indenture at the corporate trust office of the Trustee at Wachovia Bank, National Association in Charlotte, North Carolina or the corporate trust offices of its
successors, and may be surrendered at said office for exchange for a like aggregate principal amount of bonds of Series            of other authorized denominations. Notwithstanding the
provisions of Section 2.7 of the Original Indenture, no charge, except for taxes or other governmental charges, shall be made by the Company for any registration of transfer of bonds of Series
    or for the exchange of any bonds of Series    for such bonds of other authorized denominations. 

        SECTION
1.05.    Redemption of the Series    Bonds.    The bonds of Series    are not subject
to redemption at the option of the Company prior to                        , 20    . Thereafter, the Bonds of
Series    shall be redeemable as a whole at any time or in part from time to
time in accordance with the provisions of the Indenture and upon not less than thirty (30) days' prior notice given by mail as provided in the Indenture (which notice may state that it is
subject to the receipt of the redemption moneys by the Trustee on or before the date fixed for redemption and which notice shall be of no effect unless such moneys are so received on or before such
date), either at the option of the Company, or for the purpose of any applicable provision of the Indenture, at the following prices: 

        [TO
BE INSERTED] 

        SECTION
1.06.    Payment Date Not a Business Day.    If any redemption or maturity date for principal, premium or
interest with respect to the Series    Bonds shall be (i) a Sunday or a legal holiday, or (ii) a day on which banking institutions are authorized pursuant to law to close and
on which the corporate trust offices in North Carolina or New Jersey of the Trustee are not open for business, then the payment thereof may be made on the next succeeding day not a day specified in
(i) or (ii) with the same force and effect as if made on the specified payment date and not interest shall accrue for the period after the specified payment date. 

 
 

ARTICLE 2
  MISCELLANEOUS PROVISIONS    
    

        SECTION
2.01.    Recitals.    The recitals in
this                        Supplemental Indenture shall be taken as recitals
by the Company alone, and shall not be considered as made by or as imposing any obligation or liability upon the Trustee, nor shall the Trustee be held responsible for the legality or validity of this
                        Supplemental Indenture, and the Trustee makes no covenants or representations, and shall not be
responsible, as to or for the effect, authorization, execution, delivery or recording of
this                        Supplemental Indenture, except as expressly set forth in the Original Indenture. The Trustee shall not
be taken impliedly to waive by this                        Supplemental Indenture
any right it would otherwise have. 

        SECTION
2.02.    Benefits of Supplemental Indenture.    Nothing in
this                        Supplemental Indenture,
expressed or implied, is intended or shall be construed to confer upon, or give to, any person, firm or corporation, other than the parties hereto and the holders of the bonds, any right, remedy or
claim under or by reason of the Indenture or any covenant, condition or stipulation thereof; and the covenants, stipulations and agreements in the Indenture contained are and shall be for the sole and
exclusive benefit of the parties hereto, their successors and assigns, and holders of the bonds. 

        SECTION
2.03.    Effect of                        Supplemental Indenture.    This Supplemental Indenture is executed, shall be
construed as and is expressly stated to be an indenture supplemental to the Original Indenture and shall form a part of the Indenture; and the Original Indenture, as supplemented and amended by
this                        Supplemental Indenture, is hereby confirmed and adopted by the Company as its obligation. All terms
used in this                        Supplemental Indenture shall be taken to have the
meaning specified in the Original Indenture, except in cases where the context clearly indicates otherwise. 

8

 

        SECTION
2.04.    Termination.    This                        Supplemental Indenture shall become void when the Indenture
shall be void. 

        SECTION
2.05.    Trust Indenture Act.    If and to the extent that any provision of
this                        Supplemental
Indenture limits, qualifies or conflicts with any of the applicable provisions of Sections 310 to 317, inclusive, of the Trust Indenture Act of 1939, as amended, such required provision shall control. 

        SECTION
2.06.    Counterparts.    This                        Supplemental Indenture may be simultaneously executed in any
number of counterparts, each of which shall be deemed an original; and all said counterparts executed and delivered, each as an original, shall constitute but one and the same instrument, which shall
for all purposes be sufficiently evidenced by any such original counterpart. 

        SECTION
2.07.    Notices.    Any notice to the Trustee under any provision of
this                        Supplemental
Indenture shall be sufficiently given if served personally upon a responsible officer of the Trustee or mailed by registered or certified mail, postage prepaid, addressed to the Trustee at its
corporate trust office, which is Wachovia Bank, National Association, 21 South Street, Third Floor, Morristown, New Jersey 07960 as of the date hereof. The Trustee shall notify the Company from time
to time of any change in the address of its corporate trust office. 

        IN
WITNESS WHEREOF, PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE has caused this instrument to be executed and its corporate seal to be hereto affixed, by its officers, thereunto duly
authorized, and WACHOVIA BANK, NATIONAL ASSOCIATION has caused this instrument to be executed and its corporate seal to be hereto affixed by its officers thereunto duly authorized, all as of the day
and year first above written but actually executed on                        , 200    . 

PUBLIC
SERVICE COMPANY OF NEW HAMPSHIRE 

[CORPORATE
SEAL]                                      By 

Name: 

Title:

Attest: 

Name:

Title: 

9

 

Signed,
sealed and delivered by

Public Service Company of New

Hampshire in the presence of us: 

Witnesses

WACHOVIA
BANK, NATIONAL ASSOCIATION 

as
Trustee as aforesaid 

	

By: ____________________________________

Name:

Title:

[CORPORATE SEAL]

Attest:	

 

Name:

Title:

Signed, sealed and delivered by 

Wachovia
Bank, National Association, in

the presence of us: 

Witnesses

10

   
SCHEDULE A

(FORM OF BONDS OF SERIES        )

THIS BOND IS TRANSFERABLE ONLY AS PROVIDED HEREIN 

	No.	 	$	    ,000,000

PUBLIC
SERVICE COMPANY OF NEW HAMPSHIRE 

Incorporated
under the Laws of the State of New Hampshire 

FIRST
MORTGAGE BOND, SERIES   

PRINCIPAL DUE                        , 20            

        FOR
VALUE RECEIVED, PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE, a corporation organized and existing under the laws of the State of New Hampshire (hereinafter called the Company), hereby
promises to pay to                        or registered assigns, subject to the conditions set forth in this Bond, the principal
sum of                        Million ($    ,000,000), on the first day of
            , 200    , and to pay interest on said
sum, on each of the interest payment dates applicable from time to time to the Series    Bonds (as defined on the reverse hereof), until the Company's obligation with respect to said
principal sum shall be discharged, in amounts equal to the interest payments due on such Series    Bonds. This Bond shall bear interest as aforesaid from the interest payment date next
preceding the date hereof to which such interest has been paid on the Bonds of this series, or if the date hereof is prior to the record date with respect to the first interest payment date then from
the date of original issue of the Bonds of this series, or if the date hereof is an interest payment date to which interest is being paid or date between the record date for any such interest payment
date and such interest payment date, then from such interest payment date. 

        The
bonds of Series    shall be payable both as to principal and interest at the corporate trust office of the Trustee in Charlotte, North Carolina or the corporate trust
offices of its successors, in any coin or currency of the United States of America which at the time of payment is legal tender for the payment of public and private debts. The interest on the bonds
of Series    , whether in temporary or definitive form, shall be payable without presentation of such bonds, and only to or upon the written order of the registered holders thereof of
record at the applicable record date. The bonds of Series    shall be repayable in whole or in part according to the terms and provisions provided in Article 1 of the Supplemental
Indenture establishing the terms and conditions of bonds of this Series. 

        Each
installment of interest hereon (other than overdue interest) due on any interest payment date shall be payable to the person who shall be the registered owner of this bond at the
close of business on the record date, which shall be the day next preceding such interest payment date, or if such day shall not be a Business Day, the next preceding day which is a Business Day. 

        Reference
is hereby made to the further provisions of this Bond set forth on the reverse hereof, including without limitation provisions in regard to the call and redemption and the
registration of transfer and exchangeability of this bond, and such further provisions shall for all purposes have the same effect as though fully set forth in this place. 

        This
bond shall not become or be valid or obligatory until the certificate of authentication hereon shall have been signed by Wachovia Bank, National Association (hereinafter with its
successors as defined in the Indenture (as defined on the reverse hereof), generally called the Trustee), or by such a successor. 

        IN
WITNESS WHEREOF, Public Service Company of New Hampshire has caused this bond to be executed in its corporate name and on its behalf by its Vice President by his signature or a
facsimile thereof, and its corporate seal to be affixed or imprinted hereon and attested by the manual or facsimile signature of its Assistant Secretary. 

11

 

Dated
as of                        ,            . 

PUBLIC
SERVICE COMPANY OF NEW HAMPSHIRE 

	

By ________________________________

Name:

Title: Vice President

Attest:	

 
	

____________________________________

Name:

Title: Assistant Secretary	

 

[FORM
OF TRUSTEE'S CERTIFICATE] 

        Wachovia
Bank, National Association hereby certifies that this bond is one of the bonds described in the within mentioned Indenture. 

WACHOVIA
BANK, NATIONAL ASSOCIATION, TRUSTEE 

	

By _____________________________________

Name:

Title: Authorized Officer	

 

12

   
[FORM OF BOND]

[REVERSE]

PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE

First Mortgage Bond, Series        

        This
Bond is one of a series of Bonds in fully registered form known as the "First Mortgage Bonds, Series    " of the Company, limited
to                        Million Dollars
($    ,000,000) in aggregate principal amount, and issued under and pursuant to a First Mortgage Indenture between the Company and Wachovia Bank, National Association as successor by merger
to New England Merchants National Bank (later known as Bank of New England, National Association), as Trustee, dated as of August 15, 1978, as amended, and pursuant to which Wachovia Bank,
National Association is now Successor Trustee (said First Mortgage Indenture (i) as amended by the Tenth Supplemental Indenture thereto, being hereinafter generally called the "Original
Indenture," and (ii) together with all indentures expressly stated to be supplemental thereto, being hereinafter generally called the "Indenture"), and together with all bonds of all series now
outstanding or hereafter issued under the Indenture being equally and ratably secured (except as any sinking or other analogous fund, established in accordance with the provisions of the Indenture,
may afford additional security for the bonds of any particular series) by the Indenture, to which Indenture (executed counterparts of which are on file at the corporate trust office of the Trustee in
Morristown, New Jersey) reference is hereby made for a description of the nature and extent of the security, the rights thereunder of the holders of bonds issued and to be issued thereunder, the
rights, duties and immunities thereunder of the Trustee, the rights and obligations thereunder of the Company, and the terms and conditions upon which Bonds of this series, and bonds of other series,
are issued and are to be issued; but neither the foregoing reference to the Indenture nor any provision of this Bond or of the Indenture shall affect or impair the obligation of the Company, which is
absolute, unconditional and unalterable, to pay at the maturities herein provided the principal of and interest on this Bond as herein provided. 

        The
bonds of this Series    in permanent form are issuable in denominations of one thousand dollars ($1,000) and multiples thereof. 

        This
Bond is transferable by the registered owner hereof upon surrender hereof at the corporate trust office of the Trustee, together with a written instrument of transfer in approved
form, signed by the owner or his duly authorized attorney, and a new Bond or Bonds of this series for a like principal amount will be issued in exchange, all as provided in the Indenture. Prior to due
presentment for registration of transfer of this Bond, the Company and the Trustee may deem and treat the registered owner hereof as the absolute owner hereof, whether or not this Bond be overdue, for
the purpose of receiving payment and for all other purposes, and neither the Company nor the Trustee shall be affected by any notice to the contrary. 

        This
Bond is exchangeable at the option of the registered holder hereof upon surrender hereof, at the corporate trust office of the Trustee in Charlotte, North Carolina or the corporate
trust offices of its successors, for an equal principal amount of bonds of this series of other authorized denominations, in the manner and on the terms provided in the Indenture. 

        The
Bonds of this series are not subject to redemption at the option of the Company prior to                        ,
20    . Thereafter, the Bonds of Series            shall be
redeemable as a whole at any time or in part from time to time in accordance with the provisions of the Indenture and upon not less than thirty (30) days' prior notice given by mail as provided
in the Indenture (which notice may state that it is subject to the receipt of the redemption moneys by the Trustee on or before the date fixed for redemption and which notice shall be of no effect
unless such moneys are so received on or before such date), either at the option of the Company, or for the purpose of any applicable provision of the Indenture, at the following prices: 

        [TO
BE INSERTED] 

13

 

        Except
as provided in the immediately preceding paragraph, the Bonds of this series are not subject to redemption. 

        If
this Bond is called in whole or in part, and if moneys have been duly deposited or otherwise made available to the Trustee for redemption hereof, or of the part hereof so called, as
required in the Indenture, this Bond, or such called part hereof, shall be due and payable on the date fixed for redemption and thereafter this Bond, or such called part hereof, shall cease to bear
interest on the date fixed for redemption and shall cease to be entitled to the lien of the Indenture, and, as respects the Company's liability hereon, this Bond, or such called part hereof, shall be
deemed to have been paid; but, if less than the whole principal amount hereof shall be so called, the registered owner hereof shall be entitled, in addition to the sums payable on account of the part
called, to receive, without expense to such owner, upon surrender hereof, one or more Bonds of this series for an aggregate principal amount equal to that part of the principal amount hereof not then
called and paid. 

        The
Indenture contains provisions permitting the Company and the Trustee to effect, by supplemental indenture, certain modifications of the Indenture without any consent of the holders
of the bonds, and to effect certain other modifications of the Indenture, and of the rights of the holders of the bonds, with the consent of the holders of not less than a majority in aggregate
principal amount of all bonds issued under the Indenture at the time outstanding, or in case one or more, but less than all, of the series of said bonds then outstanding are affected, with the consent
of the holders of not less than a majority in aggregate principal amount of said outstanding bonds of each series affected. 

        No
recourse shall be had for the payment of the principal of or premium, if any, or interest on this Bond, or for any claim based hereon, or otherwise in respect hereof or of the
Indenture, to or against any incorporator or against any stockholder, director or officer, past, present or future, as such, of the Company or any affiliate of the Company, or of any predecessor or
successor company, either directly or through the Company, or such predecessor or successor company or any trustee, receiver or assignee or otherwise, under any constitution, or statute or rule of
law, or by the enforcement of any assessment or penalty, or otherwise, all such liability of incorporators, stockholders, directors or officers, as such, being waived and released by the holder and
owner hereof by the acceptance of this Bond and as part of the consideration for the issuance hereof and being likewise waived and released by the terms of the Indenture. 

14

   
SCHEDULE B

Description of Certain Properties

Acquired

Since                   

        The
following deeds and conveyances, recorded in the Registries of Deeds in the Counties in New Hampshire indicated, contain descriptions of certain properties acquired in fee simple by
the Company since                        . 

	Grantor
	 	Date
	 	Book/Page
	 	County/Town

15

 

	THE STATE OF CONNECTICUT	 	)
	COUNTY OF HARTFORD	 	) ss. Berlin

        Then
personally appeared before me                        , Vice President and Treasurer,
and                        , Assistant Secretary, of Public Service Company of New Hampshire, a New Hampshire
corporation, and severally acknowledged the foregoing instrument to be their free act and deed in their said capacities and the free act and deed of said corporation. 

        Witness
my hand and notarial seal this    th day of                        , 200    ,
at            . 

Name:

Notary Public in and for the State of Connecticut

        My Commission Expires: 

(Notarial
Seal) 

16

  

	THE STATE OF NEW JERSEY	 	)
	COUNTY OF	 	) ss.

        Then
personally appeared before me                        ,
                        , of Wachovia Bank, National Association, a national banking association, and acknowledged the foregoing
instrument to
be their free act and deed in their said capacities and the free act and deed of said corporation. 

        Witness
my hand and notarial seal this    day of                        , 200    ,
at                        , New Jersey.
 

Name:

Notary Public in and for the State of New Jersey

        My Commission Expires: 

(Notarial
Seal) 

17

 

ENDORSEMENT

        Wachovia
Bank, National Association, Trustee, being the mortgagee in the foregoing Supplemental Indenture, hereby consents to the cutting of any timber standing upon any of the lands
covered by said Supplemental Indenture and to the sale of any such timber so cut and of any personal property covered by said Supplemental Indenture to the extent, but only to the extent, that such
sale is permitted under the provisions of the Original Indenture as referred to in, and as amended by, the Tenth Supplemental Indenture thereto dated as of May 1, 1991, and the Twelfth
Supplemental Indenture dated as of December 1, 2001. 

WACHOVIA
BANK, NATIONAL ASSOCIATION

as Trustee as aforesaid 

	

By ________________________________

Name:

Title:	

 

Signed,
sealed and acknowledged

on behalf of Wachovia Bank, National Association

in the presence of us: 

Witnesses

CORPORATE SEAL 

18

QuickLinks

Exhibit 4.2

TABLE OF CONTENTS

ARTICLE 1 SERIES BONDS

ARTICLE 2 MISCELLANEOUS PROVISIONS

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