Document:

EX-4.5

 

 

Exhibit 4.5

LIFEPOINT HOSPITALS, INC.

as Issuer

AND

THE BANK OF NEW YORK TRUST COMPANY, N.A.

as Trustee

INDENTURE

Dated as of May [   ], 2007

[    ]% Convertible Senior Subordinated Notes due 2014

 

 

 

TABLE OF CONTENTS

 

	 	 	 	 	 
	 	 	Page	 
	ARTICLE 1
	 	 	 	 
	Definitions
	 	 	 	 
	 
	 	 	 	 
	Section 1.01. Definitions
	 	 	2	 
	 
	 	 	 	 
	ARTICLE 2
	 	 	 	 
	Issue, Description, Execution, Registration and Exchange of Notes
	 	 	 	 
	 
	 	 	 	 
	Section 2.01. Designation, Amount and Issue of Notes
	 	 	15	 
	Section 2.02. Form of Notes
	 	 	16	 
	Section 2.03. Date and Denomination of Notes; Payments of Interest
	 	 	17	 
	Section 2.04. Date and Denomination of Notes
	 	 	18	 
	Section 2.05. Execution of Notes
	 	 	18	 
	Section 2.06. Exchange and Registration of Transfer of Notes; Restrictions
on Transfer; Depositary
	 	 	19	 
	Section 2.07. Mutilated, Destroyed, Lost or Stolen Notes
	 	 	22	 
	Section 2.08. Temporary Notes
	 	 	23	 
	Section 2.09. Cancellation of Notes Paid, Etc
	 	 	23	 
	Section 2.10. CUSIP Numbers
	 	 	24	 
	 
	 	 	 	 
	ARTICLE 3
	 	 	 	 
	[Reserved]
	 	 	 	 
	 
	 	 	 	 
	ARTICLE 4
	 	 	 	 
	Subordination of Notes
	 	 	 	 
	 
	 	 	 	 
	Section 4.01. Agreement of Subordination
	 	 	24	 
	Section 4.02. Payments to Noteholders
	 	 	24	 
	Section 4.03. Subrogation of Notes
	 	 	27	 
	Section 4.04. Authorization to Effect Subordination
	 	 	28	 
	Section 4.05. Notice to Trustee
	 	 	28	 
	Section 4.06. Trustee’s Relation to Senior Indebtedness
	 	 	29	 
	Section 4.07. No Impairment of Subordination
	 	 	30	 
	Section 4.08. Certain Conversions Not Deemed Payment
	 	 	30	 
	Section 4.09. Article Applicable to Paying Agents
	 	 	30	 
	Section 4.10. Senior Indebtedness Entitled to Rely
	 	 	31	 
	Section 4.11. Reliance on Judicial Order or Certificate of Liquidating Agent
	 	 	31	 

i

 

	 	 	 	 	 
	 	 	Page	 
	 
	 	 	 	 
	ARTICLE 5
	 	 	 	 
	Particular Covenants of the Company
	 	 	 	 
	 
	 	 	 	 
	Section 5.01. Payment of Principal and Interest
	 	 	31	 
	Section 5.02. Maintenance of Office or Agency
	 	 	32	 
	Section 5.03. Appointments to Fill Vacancies in Trustee’s Office
	 	 	32	 
	Section 5.04. Provisions as to Paying Agent.
	 	 	32	 
	Section 5.05. Existence
	 	 	34	 
	Section 5.06. Stay, Extension and Usury Laws
	 	 	34	 
	Section 5.07. Compliance Certificate
	 	 	34	 
	Section 5.08. Further Instruments and Acts
	 	 	34	 
	 
	 	 	 	 
	ARTICLE 6
	 	 	 	 
	Lists of Noteholders and Reports by the Company and the Trustee
	 	 	 	 
	 
	 	 	 	 
	Section 6.01. Lists of Noteholders
	 	 	34	 
	Section 6.02. Preservation and Disclosure of Lists
	 	 	35	 
	Section 6.03. Reports by Trustee
	 	 	35	 
	Section 6.04. Reports by Company
	 	 	35	 
	 
	 	 	 	 
	ARTICLE 7
	 	 	 	 
	Defaults and Remedies
	 	 	 	 
	 
	 	 	 	 
	Section 7.01. Events of Default
	 	 	36	 
	Section 7.02. Payments of Notes on Default; Suit Therefor
	 	 	39	 
	Section 7.03. Application of Monies Collected by Trustee
	 	 	40	 
	Section 7.04. Proceedings by Noteholders
	 	 	41	 
	Section 7.05. Proceedings by Trustee
	 	 	42	 
	Section 7.06. Remedies Cumulative and Continuing
	 	 	42	 
	Section 7.07. Direction of Proceedings and Waiver of Defaults by
Majority of Noteholders
	 	 	43	 
	Section 7.08. Notice of Defaults
	 	 	43	 
	Section 7.09. Undertaking to Pay Costs
	 	 	44	 
	Section 7.10. Failure to File Reports
	 	 	44	 
	Section 7.11. Extension Fee
	 	 	45	 
	 
	 	 	 	 
	ARTICLE 8
	 	 	 	 
	Concerning the Trustee
	 	 	 	 
	 
	 	 	 	 
	Section 8.01. Duties and Responsibilities of Trustee
	 	 	45	 
	Section 8.02. Reliance on Documents, Opinions, Etc
	 	 	47	 
	Section 8.03. No Responsibility for Recitals, Etc
	 	 	48	 
	Section 8.04. Trustee, Paying Agents, Conversion Agents or Registrar May Own
Notes
	 	 	48	 

ii

 

	 	 	 	 	 
	 	 	Page	 
	Section 8.05. Monies to be Held in Trust
	 	 	48	 
	Section 8.06. Compensation and Expenses of Trustee
	 	 	49	 
	Section 8.07. Officers’ Certificate as Evidence
	 	 	50	 
	Section 8.08. Conflicting Interests of Trustee
	 	 	50	 
	Section 8.09. Eligibility of Trustee
	 	 	50	 
	Section 8.10. Resignation or Removal of Trustee
	 	 	50	 
	Section 8.11. Acceptance by Successor Trustee
	 	 	52	 
	Section 8.12. Succession by Merger, Etc
	 	 	52	 
	Section 8.13. Limitation on Rights of Trustee as Creditor
	 	 	53	 
	Section 8.14. Trustee’s Application for Instructions from the Company
	 	 	53	 
	 
	 	 	 	 
	ARTICLE 9
	 	 	 	 
	Concerning the Noteholders
	 	 	 	 
	 
	 	 	 	 
	Section 9.01. Action by Noteholders
	 	 	54	 
	Section 9.02. Proof of Execution by Noteholders
	 	 	54	 
	Section 9.03. Who Are Deemed Absolute Owners
	 	 	54	 
	Section 9.04. Company-Owned Notes Disregarded
	 	 	55	 
	Section 9.05. Revocation of Consents; Future Holders Bound
	 	 	55	 
	 
	 	 	 	 
	ARTICLE 10
	 	 	 	 
	Noteholders’ Meetings
	 	 	 	 
	 
	 	 	 	 
	Section 10.01. Purpose of Meetings
	 	 	56	 
	Section 10.02. Call of Meetings by Trustee
	 	 	56	 
	Section 10.03. Call of Meetings by Company or Noteholders
	 	 	57	 
	Section 10.04. Qualifications for Voting
	 	 	57	 
	Section 10.05. Regulations
	 	 	57	 
	Section 10.06. Voting
	 	 	58	 
	Section 10.07. No Delay of Rights by Meeting
	 	 	58	 
	 
	 	 	 	 
	ARTICLE 11
	 	 	 	 
	Supplemental Indentures
	 	 	 	 
	 
	 	 	 	 
	Section 11.01. Supplemental Indentures Without Consent of Noteholders
	 	 	58	 
	Section 11.02. Supplemental Indentures With Consent of Noteholders
	 	 	60	 
	Section 11.03. Effect of Supplemental Indentures
	 	 	62	 
	Section 11.04. Notation on Notes
	 	 	62	 
	Section 11.05. Evidence of Compliance of Supplemental Indenture to be Furnished Trustee
	 	 	62	 

iii

 

	 	 	 	 	 
	 	 	Page	 
	 
	 	 	 	 
	ARTICLE 12
	 	 	 	 
	Consolidation, Merger, Sale, Conveyance and Lease
	 	 	 	 
	 
	 	 	 	 
	Section 12.01. Company May Consolidate, Etc. on Certain Terms
	 	 	62	 
	Section 12.02. Successor Corporation to be Substituted
	 	 	63	 
	Section 12.03. Opinion of Counsel to be Given Trustee
	 	 	64	 
	 
	 	 	 	 
	ARTICLE 13
	 	 	 	 
	Satisfaction and Discharge of Indenture
	 	 	 	 
	 
	 	 	 	 
	Section 13.01. Discharge of Indenture
	 	 	64	 
	Section 13.02. Deposited Monies to be Held in Trust by Trustee
	 	 	65	 
	Section 13.03. Paying Agent to Repay Monies Held
	 	 	65	 
	Section 13.04. Return of Unclaimed Monies
	 	 	65	 
	Section 13.05. Reinstatement
	 	 	66	 
	 
	 	 	 	 
	ARTICLE 14
	 	 	 	 
	Immunity of Incorporators, Stockholders, Officers and Directors
	 	 	 	 
	 
	 	 	 	 
	Section 14.01. Indenture and Notes Solely Corporate Obligations
	 	 	66	 
	 
	 	 	 	 
	ARTICLE 15
	 	 	 	 
	Conversion of Notes
	 	 	 	 
	 
	 	 	 	 
	Section 15.01. Conversion Privilege
	 	 	67	 
	Section 15.02. Conversion Procedure
	 	 	71	 
	Section 15.03. Exchange In Lieu Of Conversion
	 	 	74	 
	Section 15.04. Adjustment of Conversion Rate
	 	 	75	 
	Section 15.05. Shares to Be Fully Paid
	 	 	83	 
	Section 15.06. Effect of Reclassification, Consolidation, Merger or Sale
	 	 	83	 
	Section 15.07. Certain Covenants
	 	 	86	 
	Section 15.08. Responsibility of Trustee
	 	 	87	 
	Section 15.09. Notice to Holders Prior to Certain Actions
	 	 	87	 
	Section 15.10. Shareholder Rights Plans
	 	 	88	 
	 
	 	 	 	 
	ARTICLE 16
	 	 	 	 
	Repurchase of Notes at Option of Holders
	 	 	 	 
	 
	 	 	 	 
	Section 16.01. [Reserved]
	 	 	89	 
	Section 16.02. Repurchase at Option of Holders Upon a Fundamental Change
	 	 	89	 
	Section 16.03. Withdrawal of Fundamental Change Repurchase Notice
	 	 	91	 
	Section 16.04. Deposit of Fundamental Change Repurchase Price
	 	 	91	 

iv

 

	 	 	 	 	 
	 	 	Page	 
	 
	 	 	 	 
	ARTICLE 17
	 	 	 	 
	Miscellaneous Provisions
	 	 	 	 
	 
	 	 	 	 
	Section 17.01. Provisions Binding on Company’s Successors
	 	 	92	 
	Section 17.02. Official Acts by Successor Corporation
	 	 	92	 
	Section 17.03. Addresses for Notices, Etc
	 	 	93	 
	Section 17.04. Governing Law
	 	 	93	 
	Section 17.05. Evidence of Compliance with Conditions Precedent;
Certificates to Trustee
	 	 	93	 
	Section 17.06. Legal Holidays
	 	 	94	 
	Section 17.07. No Security Interest Created
	 	 	94	 
	Section 17.08. Trust Indenture Act
	 	 	94	 
	Section 17.09. Benefits of Indenture
	 	 	94	 
	Section 17.10. Table of Contents, Headings, Etc
	 	 	95	 
	Section 17.11. Authenticating Agent
	 	 	95	 
	Section 17.12. Execution in Counterparts
	 	 	96	 

	 	 	 
	Exhibit A

	 	Form of Note
	Exhibit B

	 	Form of Conversion Notice
	Exhibit C

	 	Form of Option to Elect Repayment Upon a Fundamental Change
	Schedule A

	 	Table of Additional Shares
	Schedule B

	 	Schedule of Changes to Principal Amount

v

 

     INDENTURE dated as of May [   ], 2007 between LifePoint Hospitals, Inc., a Delaware
corporation, as issuer (hereinafter sometimes called the “Company”, as more fully set forth in
Section 1.01), and The Bank of New York Trust Company, N.A., a national banking association
organized under the laws of the United States, as trustee (hereinafter sometimes called the
“Trustee”, as more fully set forth in Section 1.01).

W I T N E S S E T H:

     WHEREAS, for its lawful corporate purposes, the Company has duly authorized the issue of its [  
]% Convertible Senior Subordinated Notes due 2014 (hereinafter sometimes called the “Notes”),
initially in an aggregate principal amount not to exceed $[           ], and in order to provide
the terms and conditions upon which the Notes are to be authenticated, issued and delivered, the
Company has duly authorized the execution and delivery of this Indenture; and

     WHEREAS, the Notes, the certificate of authentication to be borne by the Notes, a form of
assignment, a form of option to elect repayment upon a Fundamental Change (as defined herein) and a
form of conversion notice to be borne by the Notes are to be substantially in the forms hereinafter
provided for; and

     WHEREAS, all acts and things necessary to make the Notes, when executed by the Company and
authenticated and delivered by the Trustee or a duly authorized authenticating agent, as in this
Indenture provided, the valid, binding and legal obligations of the Company, and to constitute
these presents a valid agreement according to its terms, have been done and performed, and the
execution of this Indenture and the issue hereunder of the Notes have in all respects been duly
authorized.

     NOW, THEREFORE, THIS INDENTURE WITNESSETH:

     That in order to declare the terms and conditions upon which the Notes are, and are to be,
authenticated, issued and delivered, and in consideration of the premises and of the purchase and
acceptance of the Notes by the holders thereof, the Company covenants and agrees with the Trustee
for the equal and proportionate benefit of the respective holders from time to time of the Notes
(except as otherwise provided below), as follows:

 

 

ARTICLE 1

Definitions

     Section 1.01. Definitions.

     (a) The terms defined in this Section 1.01 (except as herein otherwise expressly provided or
unless the context otherwise requires) for all purposes of this Indenture and of any indenture
supplemental hereto shall have the respective meanings specified in this Section 1.01. All other
terms used in this Indenture, which are defined in the Trust Indenture Act or which are by
reference therein defined in the Securities Act (except as herein otherwise expressly provided or
unless the context otherwise requires) shall have the meanings assigned to such terms in said Trust
Indenture Act and in said Securities Act as in force at the date of the execution of this
Indenture. The words “herein,” “hereof,” “hereunder,” and words of similar import refer to this
Indenture as a whole and not to any particular Article, Section or other Subdivision. The terms
defined in this Article include the plural as well as the singular.

     “Additional Shares” The term “Additional Shares” shall have the meaning specified in Section
15.01(d)(ii).

     “Adjustment Determination Date” The term “Adjustment Determination Date” shall have the
meaning specified in Section 15.04(k).

     “Adjustment Event” The term “Adjustment Event” shall have the meaning specified in Section
15.04(k).

     “Affiliate” The term “Affiliate” of any specified person means any other person directly or
indirectly controlling or controlled by or under direct or indirect common control with such
specified person. For the purposes of this definition, “control,” when used with respect to any
specified person means the power to direct or cause the direction of the management and policies of
such person, directly or indirectly, whether through the ownership of voting securities, by
contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to
the foregoing.

     “Applicable Price” The term “Applicable Price” means the price paid per share of Common Stock
in connection with a Make-Whole Change of Control pursuant to which Additional Shares shall be
added to the Conversion Rate for Notes converted pursuant to Section 15.01(d) hereof, which shall
be equal to (i) if holders of Common Stock receive only cash in such Make-Whole Change of Control,
the cash amount paid per share of Common Stock and (ii) in all other cases, the average of the
Closing Sale Prices of the Common Stock for the five

2

 

consecutive Trading Days immediately preceding the related Conversion Date for such Notes.

     “Board of Directors” The term “Board of Directors” means the Board of Directors of the Company
or a committee of such Board duly authorized to act for it hereunder.

     “Board Resolution” The term “Board Resolution” means a copy of a resolution certified by the
Secretary or an Assistant Secretary of the Company to have been duly adopted by the Board of
Directors, or duly authorized committee thereof (to the extent permitted by applicable law), and to
be in full force and effect on the date of such certification, and delivered to the Trustee.

     “Business Day” The term “Business Day” means each Monday, Tuesday, Wednesday, Thursday and
Friday which is not a day on which the banking institutions in The City of New York or the city in
which the Corporate Trust Office is located are authorized or obligated by law or executive order
to close or be closed.

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

     “Change of Control” The term “Change of Control” means the occurrence after the original
issuance of the Notes of any of the following events:

     (i) any Person or group (within the meaning of Section 13(d) of the Exchange Act)
other than the Company, its subsidiaries and the Company’s or such subsidiary’s employee
benefit plans, files a Schedule TO or any schedule, form or report under the Exchange Act
disclosing that such Person or group has become the direct or indirect “beneficial owner”
through a purchase, merger or other acquisition transaction or series
of transactions, of shares of Common Stock entitling that Person or group to exercise 50% or more of the total
voting power of all shares of the Common Stock that are entitled to vote generally in
elections of directors; or

     (ii) consummation of any transaction or event (whether by means of a liquidation,
share exchange, tender offer, consolidation, recapitalization, reclassification, merger of
the Company or any sale or lease or other transfer of the consolidated assets of the
Company and its subsidiaries substantially as an entirety) or a series of related
transactions or events pursuant to which the Common Stock is exchanged for, converted into
or constitutes solely the right to receive cash, securities or

3

 

other property other than pursuant to a transaction in which the Persons that
“beneficially owned,” directly or indirectly, immediately
prior to such transaction, shares of Common Stock representing a majority of the total voting power of all
outstanding classes of common stock of the surviving or transferee Person in substantially
the same proportion amongst themselves as such ownership immediately prior to such
transaction; or

     (iii) the first day on which a majority of the members of the Board of Directors are
not Continuing Directors.

     For purposes of this definition, whether a Person is a “beneficial owner” shall be
determined in accordance with Rule 13d-3 under the Exchange Act and “Person” includes any
syndicate or group that would be deemed to be a “person” under Section 13(d)(3) of the
Exchange Act.

     “close of business” The term “close of business” means 5:00 p.m. (New York City time).

     “Closing Sale Price” The term “Closing Sale Price” means, with respect to the Common Stock or
any other security for which a Closing Sale Price must be determined, on any date, the closing sale
price per share of the Common Stock or such other security (or, if no closing sale price is
reported, the average of the bid and asked prices or, if more than one in either case, the average
of the average bid and the average asked prices) on such date as reported in composite transactions
for the principal U.S. securities exchange on which the Common Stock or such other security is
traded. If the Common Stock or such other security is not listed or traded on a U.S. national or
regional securities exchange, the Closing Sale Price shall be determined by the last quoted bid
price per share of Common Stock or such other security in the over-the-counter market on any date,
as reported by the National Quotation Bureau or similar organization. In absence of such quotation,
the Closing Sale Price shall be determined by a nationally recognized independent investment
banking firm selected from time to time by the Board of Directors of the Company for that purpose.
The Closing Sale Price shall be determined without reference to extended or after hours market
trading.

     “Commission” The term “Commission” shall mean the Securities and Exchange Commission.

     “Common Stock” The term “Common Stock” shall mean, subject to Section 15.06, shares of common
stock of the Company, par value $0.01 per share, at the date of this Indenture or shares of any
class or classes resulting from any reclassification or reclassifications thereof and that have no
preference in respect of dividends or of amounts payable in the event of any voluntary or
involuntary liquidation, dissolution or winding up of the Company and that are

4

 

not subject to redemption by the Company; provided that if at any time there shall be more
than one such resulting class, the shares of each such class then so issuable shall be
substantially in the proportion which the total number of shares of such class resulting from all
such reclassifications bears to the total number of shares of all such classes resulting from all
such reclassifications.

     “Company” The term “Company” shall mean LifePoint Hospitals, Inc., a Delaware corporation, and
subject to the provisions of Article 12, shall include its successors and assigns.

     “Continuing Directors” The term “Continuing Directors” means, as of any date of determination,
any member of the Board of Directors who (a) was a member of the Board of Directors as of May [
], 2007 or (b) who becomes a member of the Board of Directors subsequent to that date and whose
appointment, election or nomination for election by shareholders is duly approved by a majority of
the Continuing Directors on the Board of Directors at the time of such approval, either by a
specific vote or by approval of the proxy statement issued by the Company on behalf of the Board of
Directors in which such individual is named as nominee for director.

     “Conversion Agent” The term “Conversion Agent” shall have the meaning specified in Section
5.02.

     “Conversion Date” The term “Conversion Date” shall have the meaning specified in Section
15.02(c).

     “Conversion Obligation” The term “Conversion Obligation” shall have the meaning specified in
Section 15.01(a).

     “Conversion Period” means, in connection with any Notes surrendered for conversion, (i) with
respect to any Conversion Date occurring during the period beginning on the 25th
Scheduled Trading Day prior to the maturity date of the Notes, the twenty (20) consecutive
VWAP Trading Day period beginning on and including the 22nd Scheduled Trading Day prior to
the maturity date of the Notes (or if such day is not a VWAP Trading Day, the next succeeding VWAP
Trading Day); and (ii) in all other instances, the twenty (20) consecutive VWAP Trading Day period
beginning on and including the third VWAP Trading Day following the Conversion Date, in each case
except as described under Section 15.03.

     “Conversion Price” The term “Conversion Price” means as of any date $1,000 divided by the
Conversion Rate as of such date.

     “Conversion Rate” The term “Conversion Rate” shall have the meaning specified in Section
15.01(a).

5

 

     “Conversion Settlement Date” The term “Conversion Settlement Date” shall have the meaning
specified in Section 15.02(c).

     “Corporate Trust Office” The term “Corporate Trust Office,” or other similar term, shall mean
the principal corporate trust office of the Trustee at which at any particular time its corporate
trust business shall be principally administered, which office is, at the date as of which this
Indenture is dated, located at The Bank of New York Trust Company,
N.A., 101 Barclay Street, Floor 8-W, New York, NY 10007, Attention:
Corporate Trust Administration.

     “Credit Agreement” The term “Credit Agreement” means the Credit Agreement dated as of April
15, 2005 among the Company, Citicorp North America, Inc., as administrative agent, the lenders
referred to therein, Bank of America, N.A., CIBC World Markets Corp., Sun Trust Bank, UBS
Securities LLC, as co-syndication agents and Citigroup Global Markets Inc., as sole lead arranger
and sole bookrunner, as amended, modified or supplemented from time
to time.

     “Current Market Price” The term “Current Market Price” means, in respect of shares of Common
Stock on any day and in respect of an issuance or distribution on the Common Stock, the average of
the Closing Sale Prices per share of Common Stock or the security issued or distributed on the
Common Stock for each of the ten consecutive Trading Days ending on the earlier of the day in
question and the day before the Ex-Dividend Date with respect to such issuance or distribution
requiring such computation, except that if any other issuance, distribution, subdivision or
combination of the Common Stock to which a Conversion Rate adjustment pursuant to Section 15.04
would apply during such consecutive Trading Day period, the “Current Market Price” shall be
calculated for such period in a manner determined by the Company to reflect the impact of such
issuance, distribution, subdivision or combination on the Closing Sale Price during such period.

     “Custodian” The term “Custodian” means The Bank of New York Trust Company, N.A., as custodian
for The Depository Trust Company, with respect to the Notes in global form, or any successor entity
thereto.

     “Daily Conversion Value” means, for each of the 20 consecutive VWAP Trading Days during the
Conversion Period, one-twentieth (1/20) of the product of (a) the applicable Conversion Rate on
such day and (b) the Daily VWAP of the Common Stock (or the Reference Property pursuant to Section
15.06) on such day, as determined by the Company.

     “Daily Settlement Amount” The term “Daily Settlement Amount” shall have the meaning specified
in Section 15.02(a).

6

 

     “Daily VWAP” for the Common Stock (or the Reference Property pursuant to Section 15.06) means,
for each of the 20 consecutive VWAP Trading Days during the Conversion Period, in case of the
Common Stock, the per share volume-weighted average price as displayed under the heading “Bloomberg
VWAP” on Bloomberg page LPNT.UQ <equity> AQR in respect of the period from the scheduled open
of trading on the principal trading market for the Common Stock to the scheduled close of trading
on such market on such VWAP Trading Day, or if such volume-weighted average price is unavailable,
or in the case of the Reference Property, the market value of one share of Common Stock (or of such
Reference Property) on such VWAP Trading Day as the Board of Directors determines in good faith
using, if reasonably practicable, a volume-weighted method.

     “Default” The term “Default” shall mean any event that is, or after notice or passage of time,
or both, would be, an Event of Default.

     “Depositary” The term “Depositary” means, with respect to the Notes issuable or issued in
whole or in part in global form, the person specified in Section 2.06(d) as the Depositary with
respect to such Notes, until a successor shall have been appointed and become such pursuant to the
applicable provisions of this Indenture, and thereafter, “Depositary” shall mean or include such
successor.

     “Designated Senior Indebtedness” The term “Designated Senior Indebtedness” shall mean the
Credit Agreement and any other Senior Indebtedness in which the instrument creating or evidencing
the same or the assumption or guarantee thereof (or related agreements or documents to which the
Company is a party) expressly provides that such Senior Indebtedness shall be “Designated Senior
Indebtedness” for purposes of this Indenture (provided that such instrument, agreement or other
document may place limitations and conditions on the right of such Senior Indebtedness to exercise
the rights of Designated Senior Indebtedness). If any payment made to any holder of any Designated
Senior Indebtedness or its Representative with respect to such Designated Senior Indebtedness is
rescinded or must otherwise be returned by such holder or Representative upon the insolvency,
bankruptcy or reorganization of the Company or otherwise, the reinstated Indebtedness of the
Company arising as a result of such rescission or return shall constitute Designated Senior
Indebtedness effective as of the date of such rescission or return.

     “Distributed Property” The term “Distributed Property” shall have the meaning specified in
Section 15.04(c).

     “Effective Date” The term “Effective Date” shall have the meaning specified in Section
15.01(d)(ii).

7

 

     “Event of Default” The term “Event of Default” means with respect to the Notes any event
specified in Section 7.01, continued for the period of time, if any, and after the giving of
notice, if any, therein designated.

     “Ex-Dividend Date” The term “Ex-Dividend Date” means, with respect to any issuance or
distribution on the Common Stock or any other equity security, the first date on which the shares
of Common Stock or such other equity security trade on the applicable exchange or in the applicable
market, regular way, without the right to receive such issuance or distribution.

     “Exchange Act” The term “Exchange Act” means the Securities Exchange Act of 1934, as amended,
and the rules and regulations promulgated thereunder.

     “Exchange Acceptance Date” The term “Exchange Acceptance Date” shall have the meaning
specified in Section 15.03(b).

     “Exchange Submission Date” The term “Exchange Submission Date” shall have the meaning
specified in Section 15.03(a).

     “Expiration Time” The term “Expiration Time” shall have the meaning specified in Section
15.04(e).

     “Fair Market Value” The term “Fair Market Value” shall mean the amount which a willing buyer
would pay a willing seller in an arm’s-length transaction.

     “Fiscal Quarter” The term “Fiscal Quarter” shall have the meaning specified in Section
15.01(a)(i).

     “Fundamental Change” The term “Fundamental Change” means the occurrence of (a) a Change of
Control or (b) a Termination of Trading.

     “Fundamental Change Expiration Time” The term “Fundamental Change Expiration Time” shall have
the meaning specified in Section 16.02(b).

     “Fundamental Change Notice” The term “Fundamental Change Notice” shall have the meaning
specified in Section 16.02(b).

     “Fundamental Change Repurchase Date” The term “Fundamental Change Repurchase Date” shall have
the meaning specified in Section 16.02(a).

     “Fundamental Change Repurchase Notice” The term “Fundamental Change Repurchase Notice” shall
have the meaning specified in Section 16.02(a)(i).

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     “Fundamental Change Repurchase Price” The term “Fundamental Change Repurchase Price” shall
have the meaning specified in Section 16.02(a).

     “Global Note” The term “Global Note” shall have the meaning specified in Section 2.06(b).

     “Indebtedness” The term “Indebtedness” shall mean, with respect to any Person, and without
duplication, (a) all indebtedness, obligations and other liabilities (contingent or otherwise) of
such Person for borrowed money (including obligations of the Company in respect of overdrafts,
foreign exchange contracts, currency exchange agreements, interest rate protection agreements, and
any loans or advances from banks, whether or not evidenced by debentures or similar instruments,
and all commitment, stand by and other fees due and payable to financial institutions with respect
to credit facilities available to such Person) or evidenced by bonds, debentures, or similar
instruments (whether or not the recourse of the lender is to the whole of the assets of such Person
or to only a portion thereof) (other than any account payable or other accrued current liability or
obligation incurred in the ordinary course of business in connection with the obtaining of
materials or services); (b) all reimbursement obligations and other liabilities (contingent or
otherwise) of such Person with respect to letters of credit, bank guarantees or bankers’
acceptances; (c) all obligations and liabilities (contingent or otherwise) in respect of leases of
real or personal property or other assets of such Person required, in conformity with generally
accepted accounting principles, to be accounted for as capitalized lease obligations on the balance
sheet of such Person; (d) all direct or indirect guaranties or similar agreements by such Person in
respect of, and obligations or liabilities (contingent or otherwise) of such Person to assure a
creditor against loss in respect of indebtedness of another Person of the kind described in clauses
(a) through (c); (e) any indebtedness described in clauses (a) through (d) secured by any mortgage,
pledge, lien or other encumbrance existing on property that is owned or held by such Person,
regardless of whether the indebtedness or other obligation secured thereby shall have been assumed
by such Person; and (f) any and all deferrals, renewals, extensions and refundings of, or
amendments, modifications or supplements to, any indebtedness, obligation or liability of the kind
described in clauses (a) through (e).

     “Indenture” The term “Indenture” shall mean this instrument as originally executed or, if
amended or supplemented as herein provided, as so amended or supplemented.

     “Interest Payment Date” The term “Interest Payment Date” means each May 15 and November 15 of
each year, beginning in November 2007.

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     “Make-Whole Change of Control” The term “Make-Whole Change of Control” means a transaction
described in clause (2) of the definition of Change of Control in connection with which more than
10% of the consideration received consists of cash, securities or other property that are not, or
upon issuance will not be, traded on a U.S. national securities exchange.

     “Measurement Period” The term “Measurement Period” shall have the meaning specified in Section
15.01(a)(i).

     “Merger Event” The term “Merger Event” shall have the meaning specified in Section 15.06.

     “Net Reference Property Amount” The term “Net Reference Property Amount” shall have the
meaning specified in Section 15.06(c)(ii).

     “Net Share Amount” The term “Net Share Amount” shall have the meaning specified in Section
15.02(a)(ii).

     “Net Shares” The term “Net Shares” shall have the meaning specified in Section 15.02(a)(ii).

     “Note” or “Notes” The terms “Note” or “Notes” shall mean any Note or Notes, as the case may
be, authenticated and delivered under this Indenture.

     “Noteholder” or “holder” The terms “Noteholder” or “holder” as applied to any Note, or other
similar terms (but excluding the term “beneficial holder”), shall mean any person in whose name at
the time a particular Note is registered on the Note register.

     “Note registrar” The term “Note registrar” shall have the meaning specified in Section
2.06(a).

     “Note register” The term “Note register” shall have the meaning specified in Section 2.06(a).

     “Notice of Conversion” The term “Notice of Conversion” shall have the meaning specified in
Section 15.02(b).

     “Officers’ Certificate” The term “Officers’ Certificate,” when used with respect to the
Company, shall mean a certificate signed by (a) one of the President, the Chief Executive Officer,
any Executive or Senior Vice President, Managing Director or any Vice President (whether or not
designated by a number or numbers or word added before or after the title “Vice President”) and (b)
by any such other officer designated in (a) or by one of the Treasurer or any Assistant Treasurer,
Secretary or any Assistant Secretary or Controller of the

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Company, which is delivered to the Trustee. Each such certificate shall include the
statements provided for in Section 17.05 if and to the extent required by the provisions of such
Section. One of the officers giving an Officers’ Certificate pursuant to Section 5.07 shall be the
principal executive, financial or accounting officer of the Company.

     “Opinion of Counsel” The term “Opinion of Counsel” shall mean an opinion in writing signed by
legal counsel, who may be an employee of or counsel to the Company, or other counsel acceptable to
the Trustee, which is delivered to the Trustee. Each such opinion shall include the statements
provided for in Section 17.05 if and to the extent required by the provisions of such Section.

     “outstanding” The term “outstanding,” when used with reference to Notes, shall, subject to the
provisions of Section 9.04, mean, as of any particular time, all Notes authenticated and delivered
by the Trustee under this Indenture, except:

     (i) Notes theretofore canceled by the Trustee or accepted by the Trustee for cancellation;

     (ii) Notes, or portions thereof, for the payment repurchase of which monies in the necessary
amount shall have been deposited in trust with the Trustee or with any Paying Agent (other than the
Company) or shall have been set aside and segregated in trust by the Company (if the Company shall
act as its own Paying Agent);

     (iii) Notes in lieu of which, or in substitution for which, other Notes shall have been
authenticated and delivered pursuant to the terms of Section 2.07 unless proof satisfactory to the
Trustee is presented that any such Notes are held by protected purchasers in due course; and

     (iv) Notes converted pursuant to Article 15.

     “Paying Agent” The term “Paying Agent” shall have the meaning specified in Section 5.02.

     “Payment Blockage Notice” The term “Payment Blockage Notice” shall have the meaning specified
in Section 4.02(b).

     “Person” or person The term “person” shall mean an individual, a corporation, a limited
liability company, an association, a partnership, a joint venture, a joint stock company, a trust,
an unincorporated organization or a government or an agency or a political subdivision thereof.

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     “Predecessor Note” The term “Predecessor Note” of any particular Note shall mean every
previous Note evidencing all or a portion of the same debt as that evidenced by such particular
Note; and, for the purposes of this definition, any Note authenticated and delivered under Section
2.07 in lieu of a lost, destroyed or stolen Note shall be deemed to evidence the same debt as the
lost, destroyed or stolen Note that it replaces.

     “Principal Return” The term “Principal Return” shall have the meaning specified in Section
15.02(a)(i).

     “Purchased Shares” The term “Purchased Shares” shall have the meaning specified in Section
15.04(e)(i).

     “Record Date” The term “Record Date” shall have the meaning specified in Section 15.04(f).

     “Reference Property” The term “Reference Property” shall have the meaning specified in Section
15.06(b).

     “Responsible Officer” The term “Responsible Officer”, when used with respect to the Trustee,
shall mean an officer of the Trustee in the Corporate Trust Office, having direct responsibility
for the administration of this Indenture, and also, with respect to a particular matter, any other
officer to whom such matter is referred because of such officer’s knowledge of and familiarity with
the particular subject.

     “Representative” The term “Representative” shall mean the (a) indenture trustee or other
trustee, agent or representative for any Senior Indebtedness or (b) with respect to any Senior
Indebtedness that do not have any such trustee, agent or other representative, (i) in the case of
Senior Indebtedness issued pursuant to an agreement providing for voting arrangements as among
holders or owners of such Senior Indebtedness, any holder or owner of such Senior Indebtedness
acting with the consent of the required persons necessary to bind such holders or owners of such
Senior Indebtedness and (ii) in the case of all other such Senior Indebtedness, the holder or owner
of such Senior Indebtedness.

     “Scheduled Trading Day” The term “Scheduled Trading Day” shall mean a day that is scheduled to
be a Trading Day on the primary U.S. national or regional securities exchange on which the Common
Stock is listed or admitted to trading.

     “Securities Act” The term “Securities Act” means the Securities Act of 1933, as amended, and
the rules and regulations promulgated thereunder.

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     “Senior Indebtedness” The term “Senior Indebtedness” shall mean the principal of, premium, if
any, interest (including all interest accruing subsequent to the commencement of any bankruptcy or
similar proceeding, whether or not a claim for post-petition interest is allowable as a claim in
any such proceeding) and rent payable on or in connection with, and all fees, costs, expenses and
other amounts accrued or due on or in connection with, Indebtedness of the Company, whether
outstanding on the date of this Indenture or thereafter created, incurred, assumed, guaranteed or
in effect guaranteed by the Company (including all deferrals, renewals, extensions or refundings
of, or amendments, modifications or supplements to, the foregoing), unless in the case of any
particular Indebtedness the instrument creating or evidencing the same or the assumption or
guarantee thereof expressly provides that such Indebtedness shall not be senior in right of payment
to the Notes or expressly provides that such Indebtedness is pari passu or junior to the Notes.
Notwithstanding the foregoing, the term Senior Indebtedness shall not include (a) any Indebtedness
of the Company to any majority-owned Subsidiary of the Company, or (b) the Notes or the Company’s
$225,000,000 3 1/4% Convertible Senior Subordinated Debentures due 2025. If any payment made to any
holder of any Senior Indebtedness or its Representative with respect to such Senior Indebtedness is
rescinded or must otherwise be returned by such holder or Representative upon the insolvency,
bankruptcy or reorganization of the Company or otherwise, the reinstated Indebtedness of the
Company arising as a result of such rescission or return shall constitute Senior Indebtedness
effective as of the date of such rescission or return.

     “Significant Subsidiary” The term “Significant Subsidiary” means, with respect to any person,
a Subsidiary of such person that would constitute a “significant subsidiary” as such term is
defined under Rule 1-02 of Regulation S-X of the Securities and Exchange Commission.

     “Subsidiary” The term “Subsidiary” means a corporation more than 50% of the outstanding voting
stock of which is owned, directly or indirectly, by the Company or by one or more other
Subsidiaries, or by the Company and one or more other Subsidiaries. For the purposes of this
definition, “voting stock” means stock which ordinarily has voting power for the election of
directors, whether at all times or only so long as no senior class of stock has such voting power
by reason of any contingency.

     “Termination of Trading” A “Termination of Trading” means any time that the Common Stock is
not listed for trading on a United States national or regional securities exchange.

     “Trading Day” The term “Trading Day” means, with respect to the Common Stock, a day (i) during
which trading in securities generally occurs on the Nasdaq Global Select Market, or if the Common
Stock is not then listed on the

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Nasdaq Global Select Market, the principal other United States national or regional securities
exchange on which the Common Stock is traded or, if the Common Stock is not listed on a United
States national or regional securities exchange, on the principal other market on which the Common
Stock is then traded and (ii) on which a Closing Sale Price for the Common Stock may be obtained.

     “Trading Price” The term “Trading Price” means, with respect to each $1,000 principal amount
of Notes (as used in this definition, a “Note”) as of any date (each such date a “date of
determination”), the average of the secondary market bid quotations per Note obtained by the
Trustee for $5,000,000 principal amount of Notes at approximately 3:30 p.m., New York City time, on
such determination date from three independent nationally recognized securities dealers selected by
the Company; provided that if three such bids cannot reasonably be obtained by the Trustee, but two
such bids are obtained, then the average of the two bids shall be used, and if only one such bid
can reasonably be obtained by the Trustee, that one bid shall be used. If the Trustee cannot
reasonably obtain at least one such bid for $5,000,000 principal amount of Notes from a nationally
recognized securities dealer, then the Trading Price of a Note will be deemed to be less than 96%
of the product of (a) the then-applicable Conversion Rate of the Notes and (b) the Closing Sale
Price on such date of determination.

     “Trigger Event” The term “Trigger Event” shall have the meaning specified in Section 15.04(c).

     “Trust Indenture Act” The term “Trust Indenture Act” shall mean the Trust Indenture Act of
1939, as amended, as it was in force at the date of execution of this Indenture, except as provided
in Section 11.03 and Section 15.06; provided, however, that in the event the Trust Indenture Act of
1939 is amended after the date hereof, the term “Trust Indenture Act” shall mean, to the extent
required by such amendment, the Trust Indenture Act of 1939, as so amended.

     “Trustee” The term “Trustee” shall mean The Bank of New York Trust Company, N.A., and its
successors and any corporation resulting from or surviving any consolidation or merger to which it
or its successors may be a party and any successor trustee at the time serving as successor trustee
hereunder.

     “Underwriters” The term “Underwriters” means [          ].

     “Underwriting Agreement” The term “Underwriting Agreement” means that certain Underwriting
Agreement, dated as of May [  ], 2007, between the Company and the Underwriters.

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     “VWAP Trading Day” The term “VWAP Trading Day” means a day during which (i) trading in the
Common Stock generally occurs on the principal U.S. national or regional securities exchange or
market on which the Common Stock is listed or admitted for trading and (ii) there is no VWAP Market
Disruption Event. If the Common Stock is not so listed or traded, then “VWAP Trading Day” means a
Business Day.

     “VWAP Market Disruption Event” The term “VWAP Market Disruption Event” means (i) a failure by
the principal U.S. national or regional securities exchange or market on which the Common Stock is
listed or admitted to trading to open for trading during its regular trading session or (ii) the
occurrence or existence prior to 1:00 p.m. on any Scheduled Trading Day for the Common Stock for an
aggregate one half-hour period of any suspension or limitation imposed on trading (by reason of
movements in price exceeding limits permitted by the stock exchange or otherwise) in the Common
Stock or in any options contracts or futures contracts relating to the Common Stock.

ARTICLE 2

Issue, Description, Execution, Registration and Exchange of Notes

     Section 2.01. Designation, Amount and Issue of Notes. The Notes shall be designated as the
“[    ]% Convertible Senior Subordinated Notes due 2014.” Notes not to exceed the aggregate
principal amount of $[          ], upon the execution of this Indenture, or (except pursuant to
Section 2.06 and Section 2.07) from time to time thereafter, may be executed by the Company and
delivered to the Trustee for authentication, and the Trustee shall thereupon authenticate and
deliver said Notes upon the written order of the Company, signed by the Company’s (a) Chief
Executive Officer, President, Executive or Senior Vice President, Managing Director or any Vice
President (whether or not designated by a number or numbers or word or words added before or after
the title “Vice President”) and (b) any such other officer designated in (a) or the Treasurer or
Assistant Treasurer or its Secretary or any Assistant Secretary, without any further action by the
Company hereunder, provided, however, that said Notes may not be executed, delivered or
authenticated unless and until the Trustee shall have received an Officers’ Certificate stating
that the Notes are substantially in the form set forth in Exhibit A of the Indenture and an Opinion
of Counsel substantially to the effect that the Indenture, to the extent applicable, and Notes have
been duly authorized and, if executed and authenticated in accordance with the provisions of the
Indenture and delivered to and duly paid for by the Purchasers thereof on the date of such opinion,
would be entitled to the benefits of the Indenture and would be valid and binding obligations of
the Company, enforceable against the Company in accordance with their respective terms,

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subject to bankruptcy, insolvency, reorganization, receivership, moratorium and other similar
laws affecting creditors’ rights generally, general principles of equity, and such other matters as
shall be specified therein; provided further that additional Notes may be issued in an unlimited
aggregate principal amount so long as such Notes are part of the same issue, within the meaning of
Treasury Regulations Sections 1.1275-1(f) and 1.1275-2(k)(2), as the Notes initially issued
hereunder. The Trustee shall be fully protected in relying upon such Officers’ Certificate and
Opinion of Counsel.

     Section 2.02. Form of Notes. The Notes and the Trustee’s certificate of authentication to be
borne by such Notes shall be substantially in the form set forth in Exhibit A, which is
incorporated in and made a part of this Indenture.

     Any of the Notes may have such letters, numbers or other marks of identification and such
notations, legends or endorsements as the officers executing the same may approve (execution
thereof to be conclusive evidence of such approval) and as are not inconsistent with the provisions
of this Indenture, or as may be required to comply with any law or with any rule or regulation made
pursuant thereto or with any rule or regulation of any securities exchange or automated quotation
system on which the Notes may be listed or designated for issuance, or to conform to usage or to
indicate any special limitations or restrictions to which any particular Notes are subject.

     The Global Note shall represent such of the outstanding Notes as shall be specified therein
and shall provide that it shall represent the aggregate amount of outstanding Notes from time to
time endorsed thereon and that the aggregate amount of outstanding Notes represented thereby may
from time to time be increased or reduced to reflect repurchases, conversions, transfers or
exchanges permitted hereby. Any endorsement of the Global Note to reflect the amount of any
increase or decrease in the amount of outstanding Notes represented thereby shall be made by the
Trustee or the Custodian, at the direction of the Trustee, in such manner and upon instructions
given by the holder of such Notes in accordance with this Indenture. Payment of principal and
accrued and unpaid interest (including any Fundamental Change Repurchase Price) on the Global Note
shall be made to the holder of such Note on the date of payment, unless a record date or other
means of determining holders eligible to receive payment is provided for herein.

     The terms and provisions contained in the form of Note attached as Exhibit A hereto shall
constitute, and are hereby expressly made, a part of this Indenture and to the extent applicable,
the Company and the Trustee, by their execution and delivery of this Indenture, expressly agree to
such terms and provisions and to be bound thereby.

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     Section 2.03. Date and Denomination of Notes; Payments of Interest. The Notes shall be
issuable in registered form without coupons in denominations of $1,000 principal amount and
integral multiples thereof. Each Note shall be dated the date of its authentication and shall bear
interest from the date specified on the face of the form of Note attached as Exhibit A hereto.
Interest on the Notes shall be computed on the basis of a 360-day year comprised of twelve 30-day
months.

     The Person in whose name any Note (or its Predecessor Note) is registered on the Note Register
at the close of business on any record date with respect to any Interest Payment Date shall be
entitled to receive the interest payable on such Interest Payment Date. Interest shall be payable
at the office of the Company maintained by the Company for such purposes in the Borough of
Manhattan, City of New York, which shall initially be an office or agency of the Trustee. The
Company shall pay interest (i) on any Notes in certificated form by check mailed to the address of
the Person entitled thereto as it appears in the Note Register (or upon written notice by such
Person, by wire transfer in immediately available funds, if such Person is entitled to interest on
aggregate principal in excess of $2 million) or (ii) on any Global Note by wire transfer of
immediately available funds to the account of the Depositary or its nominee. The term “record
date” with respect to any Interest Payment Date shall mean the May 1 or November 1 preceding the
applicable May 15 or November 15 Interest Payment Date, respectively.

     Any interest on any Note which is payable, but is not punctually paid or duly provided for, on
any May 15 or November 15 (herein called “Defaulted Interest”) shall forthwith cease to be payable
to the Noteholder on the relevant record date by virtue of his having been such Noteholder, and
such Defaulted Interest shall be paid by the Company, at its election in each case, as provided in
clause (1) or (2) below:

     (1) The Company may elect to make payment of any Defaulted Interest to the Persons in whose
names the Notes (or their respective Predecessor Notes) are registered at the close of business on
a special record date for the payment of such Defaulted Interest, which shall be fixed in the
following manner. The Company shall notify the Trustee in writing of the amount of Defaulted
Interest proposed to be paid on each Note and the date of the proposed payment (which shall be not
less than twenty-five (25) days after the receipt by the Trustee of such notice, unless the Trustee
shall consent to an earlier date), and at the same time the Company shall deposit with the Trustee
an amount of money equal to the aggregate amount to be paid in respect of such Defaulted Interest
or shall make arrangements satisfactory to the Trustee for such deposit on or prior to the date of
the proposed payment, such money when deposited to be held in trust for the benefit of the Persons
entitled to such Defaulted Interest as in this clause

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provided. Thereupon the Company shall fix a special record date for the payment of such
Defaulted Interest which shall be not more than fifteen (15) days and not less than ten (10) days
prior to the date of the proposed payment, and not less than ten (10) days after the receipt by the
Trustee of the notice of the proposed payment. The Company shall promptly notify the Trustee of
such special record date and the Trustee, in the name and at the expense of the Company, shall
cause notice of the proposed payment of such Defaulted Interest and the special record date
therefor to be mailed, first-class postage prepaid, to each holder at his address as it appears in
the Note Register, not less than ten (10) days prior to such special record date. Notice of the
proposed payment of such Defaulted Interest and the special record date therefor having been so
mailed, such Defaulted Interest shall be paid to the Persons in whose names the Notes (or their
respective Predecessor Notes) are registered at the close of business on such special record date
and shall no longer be payable pursuant to the following clause (2) of this Section 2.03.

     (2) The Company may make payment of any Defaulted Interest in any other lawful manner not
inconsistent with the requirements of any securities exchange or automated quotation system on
which the Notes may be listed or designated for issuance, and upon such notice as may be required
by such exchange or automated quotation system, if, after notice given by the Company to the
Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed
practicable by the Trustee.

     Section 2.04. Date and Denomination of Notes. The Notes shall be issuable in fully
registered form without coupons in denominations of $1,000 principal amount and integral multiples
thereof. Every Note shall be dated the date of its authentication.

     Section 2.05. Execution of Notes. The Notes shall be signed in the name and on behalf of the
Company by the manual or facsimile signature of its Chairman or Vice-Chairman of the Board of
Directors, Chief Executive Officer, President, any of its Executive or Senior Vice Presidents,
Managing Director, or any of its Vice Presidents (whether or not designated by a number or numbers
or word or words added before or after the title “Vice President”). Only such Notes as shall bear
thereon a certificate of authentication substantially in the form set forth on the form of Note
attached as Exhibit A hereto, manually executed by the Trustee (or an authenticating agent
appointed by the Trustee as provided by Section 17.11), shall be entitled to the benefits of this
Indenture or be valid or obligatory for any purpose. Such certificate by the Trustee (or such an
authenticating agent) upon any Note executed by the Company shall be conclusive evidence that the
Note so authenticated has been duly authenticated and delivered hereunder and that the holder is
entitled to the benefits of this Indenture.

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     In case any officer of the Company who shall have signed any of the Notes shall cease to be
such officer before the Notes so signed shall have been authenticated and delivered by the Trustee,
or disposed of by the Company, such Notes nevertheless may be authenticated and delivered or
disposed of as though the person who signed such Notes had not ceased to be such officer of the
Company; and any Note may be signed on behalf of the Company by such persons as, at the actual date
of the execution of such Note, shall be the proper officers of the Company, although at the date of
the execution of this Indenture any such person was not such an officer.

     Section 2.06. Exchange and Registration of Transfer of Notes; Restrictions on Transfer;
Depositary.

     (a) The Company shall cause to be kept at the Corporate Trust Office a register (the register
maintained in such office and in any other office or agency of the Company designated pursuant to
Section 5.02 being herein sometimes collectively referred to as the “Note register”) in which,
subject to such reasonable regulations as it may prescribe, the Company shall provide for the
registration of Notes and of transfers of Notes. Such register shall be in written form or in any
form capable of being converted into written form within a reasonable period of time. The Trustee
is hereby appointed “Note registrar” for the purpose of registering Notes and transfers of Notes as
herein provided. The Company may appoint one or more co-registrars in accordance with Section
5.02.

     Upon surrender for registration of transfer of any Note to the Note registrar or any
co-registrar, and satisfaction of the requirements for such transfer set forth in this Section
2.06, the Company shall execute, and the Trustee shall authenticate and deliver, in the name of the
designated transferee or transferees, one or more new Notes of any authorized denominations and of
a like aggregate principal amount and bearing such restrictive legends as may be required by this
Indenture.

     Notes may be exchanged for other Notes of any authorized denominations and of a like aggregate
principal amount, upon surrender of the Notes to be exchanged at any such office or agency
maintained by the Company pursuant to Section 5.02. Whenever any Notes are so surrendered for
exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the Notes
which the Noteholder making the exchange is entitled to receive, bearing registration numbers not
contemporaneously outstanding.

     All Notes presented or surrendered for registration of transfer or for exchange, repurchase or
conversion shall (if so required by the Company, the Trustee, the Note registrar or any
co-registrar) be duly endorsed, or be accompanied by a written instrument or instruments of
transfer in form

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satisfactory to the Company and duly executed, by the Noteholder thereof or his
attorney-in-fact duly authorized in writing.

     No service charge shall be charged to the Noteholder for any exchange or registration of
transfer of Notes, but the Company or the Trustee may require payment of a sum sufficient to cover
any tax, assessments or other governmental charges that may be imposed in connection therewith.

     None of the Company, the Trustee, the Note registrar or any co-registrar shall be required to
exchange or register a transfer of (a) any Notes surrendered for conversion or, if a portion of any
Note is surrendered for conversion, such portion thereof surrendered for conversion or (b) any
Notes, or a portion of any Note, surrendered for repurchase (and not withdrawn) in accordance with
Article 16 hereof.

     All Notes issued upon any registration of transfer or exchange of Notes in accordance with
this Indenture shall be the valid obligations of the Company, evidencing the same debt, and
entitled to the same benefits under this Indenture as the Notes surrendered upon such registration
of transfer or exchange.

     (b) So long as the Notes are eligible for book-entry settlement with the Depositary, unless
otherwise required by law, all Notes shall be represented by a Note in global form (a “Global
Note”) registered in the name of the Depositary or the nominee of the Depositary. The transfer and
exchange of beneficial interests in a Global Note, which does not involve the issuance of a
definitive Note, shall be effected through the Depositary (but not the Trustee or the Custodian) in
accordance with this Indenture (including the restrictions on transfer set forth herein) and the
procedures of the Depositary therefor.

     (c) Any Global Note may be endorsed with or have incorporated in the text thereof such legends
or recitals or changes not inconsistent with the provisions of this Indenture as may be required by
the Custodian, the Depositary or by the National Association of Securities Dealers, Inc. to comply
with any applicable law or any regulation thereunder or with the rules and regulations of any
securities exchange or automated quotation system upon which the Notes may be listed or traded or
designated for issuance or to conform with any usage with respect thereto, or to indicate any
special limitations or restrictions to which any particular Notes are subject.

     Notwithstanding any other provisions of this Indenture, a Global Note may not be transferred
as a whole or in part except by the Depositary to a nominee of the Depositary or by a nominee of
the Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any
such nominee to a successor Depositary or a nominee of such successor Depositary; provided that a

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Global Note may be exchanged in whole or in part for a definitive Note registered in the name of
any Person other than the Depositary if (x) any holder of a beneficial interest in such Global Note
through the Depositary requests to exchange such beneficial interest for a Note in registered form,
in accordance with customary procedures or (y) the Company determines, in its sole discretion, not
to have Notes represented by a Global Note.

     (d) The Depositary shall be a clearing agency registered under the Exchange Act. The Company
initially appoints The Depository Trust Company to act as Depositary with respect to the Global
Note. Initially, the Global Note shall be issued to the Depositary, registered in the name of Cede
& Co., as the nominee of the Depositary, and deposited with the Trustee as custodian for Cede & Co.

     If at any time the Depositary for a Global Note notifies the Company that it is unwilling or
unable to continue as Depositary for such Note, the Company may appoint a successor Depositary with
respect to such Note. If a successor Depositary for such Global Note is not appointed by the
Company within ninety (90) days after the Company receives such notice, the Company will execute,
and the Trustee, upon receipt of an Officers’ Certificate for the authentication and delivery of
Notes, will authenticate and deliver Notes in definitive form in an aggregate principal amount
equal to the principal amount of such Global Note, in exchange for such Global Note, and upon
delivery of the Global Note to the Trustee such Global Note shall be canceled.

     Definitive Notes issued in exchange for all or a part of the Global Note pursuant to this
Section 2.06(d) shall be registered in such names and in such authorized denominations as the
Depositary, pursuant to instructions from its direct or indirect participants or otherwise, shall
instruct the Trustee. Upon execution and authentication, the Trustee shall deliver such definitive
Notes to the persons in whose names such definitive Notes are so registered.

     At such time as all interests in a Global Note have been converted, canceled, repurchased or
transferred, such Global Note shall be, upon receipt thereof, canceled by the Trustee in accordance
with standing procedures and instructions existing between the Depositary and the Custodian. At
any time prior to such cancellation, if any interest in a Global Note is exchanged for definitive
Notes, converted, canceled, repurchased or transferred to a transferee who receives definitive
Notes therefor or any definitive Note is exchanged or transferred for part of such Global Note, the
principal amount of such Global Note shall, in accordance with the standing procedures and
instructions existing between the Depositary and the Custodian, be appropriately reduced or
increased, as the case may be, and an endorsement shall be made on such Global Note, by

21

 

the Trustee or the Custodian, at the direction of the Trustee, to reflect such reduction or
increase.

     Section 2.07. Mutilated, Destroyed, Lost or Stolen Notes. In case any Note shall become
mutilated or be destroyed, lost or stolen, the Company in its discretion may execute, and upon its
written request the Trustee or an authenticating agent appointed by the Trustee shall authenticate
and deliver, a new Note, bearing a number not contemporaneously outstanding, in exchange and
substitution for the mutilated Note, or in lieu of and in substitution for the Note so destroyed,
lost or stolen. In every case the applicant for a substituted Note shall furnish to the Company,
to the Trustee and, if applicable, to such authenticating agent such security or indemnity as may
be required by them to save each of them harmless from any loss, liability, cost or expense caused
by or connected with such substitution, and, in every case of destruction, loss or theft, the
applicant shall also furnish to the Company, to the Trustee and, if applicable, to such
authenticating agent evidence to their satisfaction of the destruction, loss or theft of such Note
and of the ownership thereof.

     The Trustee or such authenticating agent may authenticate any such substituted Note and
deliver the same upon the receipt of such security or indemnity as the Trustee, the Company and, if
applicable, such authenticating agent may require. Upon the issuance of any substituted Note, the
Company or the Trustee may require the payment by the holder of a sum sufficient to cover any tax,
assessment or other governmental charge that may be imposed in relation thereto and any other
expenses connected therewith. In case any Note which has matured or is about to mature or has been
tendered for repurchase upon a Fundamental Change or is about to be converted into Common Stock
shall become mutilated or be destroyed, lost or stolen, the Company may, in its sole discretion,
instead of issuing a substitute Note, pay or authorize the payment of or convert or authorize the
conversion of the same (without surrender thereof except in the case of a mutilated Note), as the
case may be, if the applicant for such payment or conversion shall furnish to the Company, to the
Trustee and, if applicable, to such authenticating agent such security or indemnity as may be
required by them to save each of them harmless for any loss, liability, cost or expense caused by
or connected with such substitution, and, in every case of destruction, loss or theft, evidence
satisfactory to the Company, the Trustee and, if applicable, any Paying Agent or Conversion Agent
evidence of their satisfaction of the destruction, loss or theft of such Note and of the ownership
thereof.

     Every substitute Note issued pursuant to the provisions of this Section 2.07 by virtue of the
fact that any Note is destroyed, lost or stolen shall constitute an additional contractual
obligation of the Company, whether or not the destroyed, lost or stolen Note shall be found at any
time, and shall be entitled to all the benefits of (but shall be subject to all the limitations set
forth in) this

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Indenture equally and proportionately with any and all other Notes duly issued hereunder. To
the extent permitted by law, all Notes shall be held and owned upon the express condition that the
foregoing provisions are exclusive with respect to the replacement or payment or conversion or
repurchase of mutilated, destroyed, lost or stolen Notes and shall preclude any and all other
rights or remedies notwithstanding any law or statute existing or hereafter enacted to the contrary
with respect to the replacement or payment or conversion of negotiable instruments or other
securities without their surrender.

     Section 2.08. Temporary Notes. Pending the preparation of Notes in certificated form, the
Company may execute and the Trustee or an authenticating agent appointed by the Trustee shall, upon
written request of the Company, authenticate and deliver temporary Notes (printed or lithographed).
Temporary Notes shall be issuable in any authorized denomination, and substantially in the form of
the Notes in certificated form but with such omissions, insertions and variations as may be
appropriate for temporary Notes, all as may be determined by the Company. Every such temporary
Note shall be executed by the Company and authenticated by the Trustee or such authenticating agent
upon the same conditions and in substantially the same manner, and with the same effect, as the
Notes in certificated form. Without unreasonable delay the Company will execute and deliver to the
Trustee or such authenticating agent Notes in certificated form (other than in the case of Notes in
global form) and thereupon any or all temporary Notes (other than any Global Note) may be
surrendered in exchange therefor, at each office or agency maintained by the Company pursuant to
Section 5.02 and the Trustee or such authenticating agent shall authenticate and deliver in
exchange for such temporary Notes an equal aggregate principal amount of Notes in certificated
form. Such exchange shall be made by the Company at its own expense and without any charge
therefor. Until so exchanged, the temporary Notes shall in all respects be entitled to the same
benefits and subject to the same limitations under this Indenture as Notes in certificated form
authenticated and delivered hereunder.

     Section 2.09. Cancellation of Notes Paid, Etc. All Notes surrendered for the purpose of
payment, repurchase, conversion, exchange or registration of transfer, shall, if surrendered to the
Company or any Paying Agent or any Note registrar or any Conversion Agent, be surrendered to the
Trustee and promptly canceled by it, or, if surrendered to the Trustee, shall be promptly canceled
by it, and no Notes shall be issued in lieu thereof except as expressly permitted by any of the
provisions of this Indenture. The Trustee shall destroy canceled Notes in accordance with its
customary procedures and, after such destruction, shall deliver a certificate of such destruction
to the Company, at the Company’s written request. If the Company shall acquire any of the Notes,
such acquisition shall not operate as satisfaction of the indebtedness represented by such Notes
unless and until the same are delivered to the Trustee for cancellation.

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     Section 2.10. CUSIP Numbers. The Company in issuing the Notes may use “CUSIP” numbers (if
then generally in use), and, if so, the trustee shall use “CUSIP” numbers in the Company notices
as a convenience to holders of the Notes; provided, that any such notice may state that no
representation is made as to the correctness of such numbers either as printed on the Notes or
Company notice and that reliance may be placed only on the other identification numbers printed on
the Notes. The Company will promptly notify the Trustee in writing of any change in the “CUSIP”
numbers.

ARTICLE 3

[Reserved]

ARTICLE 4

Subordination of Notes

     Section 4.01. Agreement of Subordination. The Company covenants and agrees, and each holder
of Notes issued hereunder by its acceptance thereof likewise covenants and agrees, that all Notes
shall be issued subject to the provisions of this Indenture; and each person holding any Note,
whether upon original issue or upon transfer, assignment or exchange thereof, accepts and agrees to
be bound by such provisions.

     The payment of the principal of, or interest on all Notes (including, but not limited to,
Principal Return or Fundamental Change Repurchase Price with respect to the Notes as provided in
the Indenture) issued hereunder shall, to the extent and in the manner hereinafter set forth, be
subordinated and subject in right of payment to the prior payment in full of all Senior
Indebtedness, whether outstanding at the date of this Indenture or thereafter incurred.

     No provision of this Section 4.01 shall prevent the occurrence of any default or Event of
Default hereunder.

     Section 4.02. Payments to Noteholders. No payment shall be made with respect to the
principal of or interest on the Notes (including, but not limited to, the Principal Return or
Fundamental Change Repurchase Price with respect to Notes as provided in this Indenture), except
payments and distributions made by the Trustee as permitted by the first or second paragraph of
Section 4.05, if:

     (a) a default in the payment of principal, premium, if any, interest, rent or other
obligations in respect of Designated Senior Indebtedness occurs and is continuing beyond any
applicable period of grace (a “Payment Default”), unless

24

 

and until such Payment Default shall have been cured or waived or shall have ceased to exist;
or

     (b) a default, other than a Payment Default, on any Designated Senior Indebtedness occurs and
is continuing that then permits holders of such Designated Senior Indebtedness to accelerate its
maturity, or in the case of Designated Senior Indebtedness in the form of a lease, a default other
than a Payment Default occurs and is continuing that permits the lessor to either terminate the
lease or require the Company to make an irrevocable offer to terminate the lease, and the Trustee
receives written notice of the default (a “Payment Blockage Notice”) from a holder of Designated
Senior Indebtedness, a Representative of Designated Senior Indebtedness or the Company (a
“Non-Payment Default”).

     If the Trustee receives any Payment Blockage Notice pursuant to clause (b) above, no
subsequent Payment Blockage Notice shall be effective for purposes of this Section 4.02 unless and
until at least 365 days shall have elapsed since the initial effectiveness of the immediately prior
Payment Blockage Notice. No Non-Payment Default that existed or was continuing on the date of
delivery of any Payment Blockage Notice to the Trustee shall be, or be made, the basis for a
subsequent Payment Blockage Notice.

     The Company may and shall resume payments on and distributions in respect of the Notes,
including any past scheduled payments of the principal of, or interest, on such Notes (including,
but not limited to, the Principal Return or Fundamental Change Repurchase Price with respect to
Notes as provided in this Indenture), to which the holders of the Notes would have been entitled
but for the provisions of this Article 4:

     (i) in the case of a Payment Default, on the date upon which such Payment Default is
cured or waived in writing or ceases to exist, and

     (ii) in the case of a Non-Payment Default, the earlier of (a) the date upon which
such default is cured or waived or ceases to exist or (b) 179 days after the Payment
Blockage Notice is received by the Trustee if the maturity of such Designated Senior
Indebtedness has not been accelerated and no Payment Default with respect to any
Designated Senior Indebtedness has occurred which has not been cured or waived or ceased
to exist (in such event clause (1) above shall instead be applicable).

     Upon any payment by the Company, or distribution of assets of the Company of any kind or
character, whether in cash, property or securities, to creditors upon any dissolution or winding up
or liquidation or reorganization of the Company, whether voluntary or involuntary or in bankruptcy,
insolvency,

25

 

receivership or other proceedings, all amounts due or to become due upon all Senior
Indebtedness shall first be paid in full in cash or other payment satisfactory to the holders of
such Senior Indebtedness, or payment thereof in accordance with its terms provided for in cash or
other payment satisfactory to the holders of such Senior Indebtedness before any payment is made on
account of the principal of, or interest on the Notes (except payments made pursuant to Article 13
from monies deposited with the Trustee pursuant thereto prior to commencement of proceedings for
such dissolution, winding up, liquidation or reorganization); and upon any such dissolution or
winding up or liquidation or reorganization of the Company or bankruptcy, insolvency, receivership
or other proceeding, any payment by the Company, or distribution of assets of the Company of any
kind or character, whether in cash, property or securities, to which the holders of the Notes or
the Trustee would be entitled, except for the provision of this Article 4, shall (except as
aforesaid) be paid by the Company or by any receiver, trustee in bankruptcy, liquidating trustee,
agent or other Person making such payment or distribution, or by the holders of the Notes or by the
Trustee under this Indenture if received by them or it, directly to the holders of Senior
Indebtedness (pro rata to such holders on the basis of the respective amounts of Senior
Indebtedness held by such holders, or as otherwise required by law or a court order) or their
Representative or Representatives, or to the trustee or trustees under any indenture pursuant to
which any instruments evidencing any Senior Indebtedness may have been issued, as their respective
interests may appear, to the extent necessary to pay all Senior Indebtedness in full, in cash or
other payment satisfactory to the holders of such Senior Indebtedness, after giving effect to any
concurrent payment or distribution to or for the holders of Senior Indebtedness, before any payment
or distribution is made to the holders of the Notes or to the Trustee.

     For purposes of this Article 4, the words, “cash, property or securities” shall not be deemed
to include shares of stock of the Company as reorganized or readjusted, or securities of the
Company or any other corporation provided for by a plan of reorganization or readjustment, the
payment of which is subordinated at least to the extent provided in this Article 4 with respect to
the Notes to the payment of all Senior Indebtedness that may at the time be outstanding; provided
that (i) the Senior Indebtedness are assumed by the new corporation, if any, resulting from any
reorganization or readjustment, and (ii) the rights of the holders of Senior Indebtedness are not,
without the consent of such holders, altered by such reorganization or readjustment. The
consolidation of the Company with, or the merger of the Company into, another corporation or the
liquidation or dissolution of the Company following the conveyance or transfer of its property as
an entirety, or substantially as an entirety, to another corporation upon the terms and conditions
provided for in Article 12 shall not be deemed a dissolution, winding-up, liquidation or
reorganization for the purposes of this Section 4.02 if such other corporation shall, as a part of
such consolidation, merger, conveyance or transfer, comply with the conditions stated in Article
12.

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     In the event of the acceleration of the Notes because of an Event of Default, no payment or
distribution shall be made to the Trustee or any holder of Notes in respect of the principal of, or
interest on the Notes (including, but not limited to, the Principal Return or the Fundamental
Change Repurchase Price with respect to Notes as provided in the Indenture), except payments and
distributions made by the Trustee as permitted by the first or second paragraph of Section 4.05,
until all Senior Indebtedness have been paid in full in cash or other payment satisfactory to the
holders of Senior Indebtedness or such acceleration is rescinded in accordance with the terms of
this Indenture. If payment of the Notes is accelerated because of an Event of Default, the Company
shall promptly notify holders of Senior Indebtedness of the acceleration.

     In the event that, notwithstanding the foregoing provisions, any payment or distribution of
assets of the Company of any kind or character, whether in cash, property or securities (including,
without limitation, by way of setoff or otherwise), prohibited by the foregoing provisions in this
Section 4.02, shall be received by the Trustee or the holders of the Notes before all Senior
Indebtedness are paid in full in cash or other payment satisfactory to the holders of such Senior
Indebtedness, or provision is made for such payment thereof in accordance with its terms in cash or
other payment satisfactory to the holders of such Senior Indebtedness, such payment or distribution
shall be held in trust for the benefit of and shall be paid over or delivered to the holders of
Senior Indebtedness or their Representative or Representatives, or to the trustee or trustees under
any indenture pursuant to which any instruments evidencing any Senior Indebtedness may have been
issued, as their respective interests may appear, as calculated by the Company, for application to
the payment of any Senior Indebtedness remaining unpaid to the extent necessary to pay all Senior
Indebtedness in full in cash or other payment satisfactory to the holders of such Senior
Indebtedness, after giving effect to any concurrent payment or distribution to or for the holders
of such Senior Indebtedness.

     Nothing in this Section 4.02 shall apply to claims of, or payments to, the Trustee under or
pursuant to Section 8.06. This Section 4.02 shall be subject to the further provisions of Section
4.05.

     Section 4.03. Subrogation of Notes. Subject to the payment in full of all Senior
Indebtedness, the rights of the holders of the Notes shall be subrogated to the extent of the
payments or distributions made to the holders of such Senior Indebtedness pursuant to the
provisions of this Article 4 (equally and ratably with the holders of all indebtedness of the
Company which by its express terms is pari passu to the Notes; provided that for the purposes of
such subrogation, no payments or distributions to the holders of the Senior Indebtedness of any
cash, property or securities to which the holders of the Notes or the Trustee would be entitled
except for the provisions of this Article 4, and no payment over pursuant

27

 

to the provisions of this Article 4, to or for the benefit of the holders of Senior
Indebtedness by holders of the Notes or the Trustee, shall, as between the Company, its creditors
other than holders of Senior Indebtedness, and the holders of the Notes, be deemed to be a payment
by the Company to or on account of the Senior Indebtedness; and no payments or distributions of
cash, property or securities to or for the benefit of the holders of the Notes pursuant to the
subrogation provisions of this Article 4, that would otherwise have been paid to the holders of
Senior Indebtedness shall be deemed to be a payment by the Company to or for the account of the
Notes. It is understood that the provisions of this Article 4 are and are intended solely for the
purposes of defining the relative rights of the holders of the Notes, on the one hand, and the
holders of the Senior Indebtedness, on the other hand.

     Nothing contained in this Article 4 or elsewhere in this Indenture or in the Notes is intended
to or shall impair, as among the Company, its creditors other than the holders of Senior
Indebtedness, and the holders of the Notes, the obligation of the Company, which is absolute and
unconditional, to pay to the holders of the Notes the principal of, and interest on the Notes as
and when the same shall become due and payable in accordance with their terms, or is intended to or
shall affect the relative rights of the holders of the Notes and creditors of the Company other
than the holders of the Senior Indebtedness, nor shall anything herein or therein prevent the
Trustee or the holder of any Note from exercising all remedies otherwise permitted by applicable
law upon default under this Indenture, subject to the rights, if any, under this Article 4 of the
holders of Senior Indebtedness in respect of cash, property or securities of the Company received
upon the exercise of any such remedy.

     Section 4.04. Authorization to Effect Subordination. Each holder of a Note by the holder’s
acceptance thereof authorizes and directs the Trustee on the holder’s behalf to take such action as
may be necessary or appropriate to effectuate the subordination as provided in this Article 4 and
appoints the Trustee to act as the holder’s attorney-in-fact for any and all such purposes. If the
Trustee does not file a proper proof of claim or proof of debt in the form required in any
proceeding referred to in the second paragraph of Section 7.02 hereof at least thirty (30) days
before the expiration of the time to file such claim, the holders of any Senior Indebtedness or
their representatives are hereby authorized to file an appropriate claim for and on behalf of the
holders of the Notes.

     Section 4.05. Notice to Trustee. The Company shall give prompt written notice in the form of
an Officers’ Certificate to a Responsible Officer of the Trustee and to any Paying Agent of any
fact known to the Company which would prohibit the making of any payment of monies to or by the
Trustee or any Paying Agent in respect of the Notes pursuant to the provisions of this Article 4.
Notwithstanding the provisions of this Article 4 or any other provision of this

28

 

Indenture, the Trustee shall not be charged with knowledge of the existence of any facts which
would prohibit the making of any payment of monies to or by the Trustee in respect of the Notes
pursuant to the provisions of this Article 4, unless and until a Responsible Officer of the Trustee
shall have received written notice thereof at the Corporate Trust Office from the Company (in the
form of an Officers’ Certificate) or a Representative or a holder or holders of Senior Indebtedness
or from any trustee thereof; and before the receipt of any such written notice, the Trustee shall
be entitled in all respects to assume that no such facts exist; provided that if on a date not less
than one (1) Business Day prior to the date upon which by the terms hereof any such monies may
become payable for any purpose (including, without limitation, the payment of the principal of, or
interest on any Note) the Trustee shall not have received, with respect to such monies, the notice
provided for in this Section 4.05, then, anything herein contained to the contrary notwithstanding,
the Trustee shall have full power and authority to apply monies received to the purpose for which
they were received, and shall not be affected by any notice to the contrary which may be received
by it on or after such prior date.

     Notwithstanding anything in this Article 4 to the contrary, nothing shall prevent any payment
by the Trustee to the Noteholders of monies deposited with it pursuant to Section 13.01, provided
such deposit was not in violation of this Article 4, and any such payment shall not be subject to
the provisions of Section 4.01 or Section 4.02.

     The Trustee shall be entitled to conclusively rely on the delivery to it of a written notice
by a Representative to a person representing himself to be a holder of Senior Indebtedness (or a
trustee on behalf of such holder) to establish that such notice has been given by a Representative
or a holder of Senior Indebtedness or a trustee on behalf of any such holder or holders. The
Trustee shall not be required to make any payment or distribution to or on behalf of a holder of
Senior Indebtedness pursuant to this Article 4 unless it has received reasonably satisfactory
evidence as to the amount of Senior Indebtedness held by such person, the extent to which such
person is entitled to participate in such payment or distribution and any other facts pertinent to
the rights of such person under this Article 4.

     Section 4.06. Trustee’s Relation to Senior Indebtedness. The Trustee in its individual
capacity shall be entitled to all the rights set forth in this Article 4 in respect of any Senior
Indebtedness at any time held by it, to the same extent as any other holder of Senior Indebtedness,
and nothing in Section 8.13 or elsewhere in this Indenture shall deprive the Trustee of any of its
rights as such holder.

     With respect to the holders of Senior Indebtedness, the Trustee undertakes to perform or to
observe only such of its covenants and obligations as are

29

 

specifically set forth in this Article 4, and no implied covenants or obligations with respect
to the holders of Senior Indebtedness shall be read into this Indenture against the Trustee. The
Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Indebtedness.

     Section 4.07. No Impairment of Subordination. No right of any present or future holder of
any Senior Indebtedness to enforce subordination as herein provided shall at any time in any way be
prejudiced or impaired by any act or failure to act on the part of the Company or by any act or
failure to act, in good faith, by any such holder, or by any noncompliance by the Company with the
terms, provisions and covenants of this Indenture, regardless of any knowledge thereof which any
such holder may have or otherwise be charged with.

     Section 4.08. Certain Conversions Not Deemed Payment. For the purposes of this Article 4
only, (1) the issuance and delivery of junior securities upon conversion of Notes in accordance
with Article 15 shall not be deemed to constitute a payment or distribution on account of the
principal of, or interest on Notes or on account of the purchase or other acquisition of Notes, and
(2) the payment, issuance or delivery of cash (including the Principal Return, but excluding cash
in satisfaction of fractional shares pursuant to Section 15.02(a)(ii)), property or securities
(other than junior securities) upon conversion of a Note shall be deemed to constitute payment on
account of the principal of, or interest on such Note. For the purposes of this Section 4.08, the
term “junior securities” means (a) shares of any stock of any class of the Company or (b)
securities of the Company that are subordinated in right of payment to all Senior Indebtedness that
may be outstanding at the time of issuance or delivery of such securities to substantially the same
extent as, or to a greater extent than, the Notes are so subordinated as provided in this Article.
Nothing contained in this Article 4 or elsewhere in this Indenture or in the Notes is intended to
or shall impair, as among the Company, its creditors (other than holders of Senior Indebtedness)
and the Noteholders, the right, which is absolute and unconditional, of the holder of any Note to
convert such Note in accordance with Article 15.

     Section 4.09. Article Applicable to Paying Agents. If at any time any Paying Agent other
than the Trustee shall have been appointed by the Company and be then acting hereunder, the term
“Trustee” as used in this Article shall (unless the context otherwise requires) be construed as
extending to and including such Paying Agent within its meaning as fully for all intents and
purposes as if such Paying Agent were named in this Article in addition to or in place of the
Trustee; provided, however, that the first paragraph of Section 4.05 shall not apply to the Company
or any Affiliate of the Company if it or such Affiliate acts as Paying Agent. The Trustee shall
not be responsible for the actions or inactions of any other Paying Agents (including the Company
if acting as its own Paying Agent) and have no control of any funds held by such other Paying
Agents, unless

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and to the extent that the Trustee has been appointed as Paying Agent under this Indenture.

     Section 4.10. Senior Indebtedness Entitled to Rely. The holders of Senior Indebtedness
(including, without limitation, Designated Senior Indebtedness) shall have the right to rely upon
this Article 4, and no amendment or modification of the provisions contained herein shall diminish
the rights of such holders unless such holders shall have agreed in writing thereto.

     Section 4.11. Reliance on Judicial Order or Certificate of Liquidating Agent. Upon any
payment or distribution of assets of the Company referred to in this Article, the Trustee and the
Noteholders shall be entitled to conclusively rely upon any order or decree entered by any court of
competent jurisdiction in which such insolvency, bankruptcy, receivership, liquidation,
reorganization, dissolution, winding up or similar case or proceeding is pending, or a certificate
of the trustee in bankruptcy, liquidating trustee, custodian, receiver, assignee for the benefit of
creditors, agent or other person making such payment or distribution, delivered to the Trustee or
to the Noteholders, for the purpose of ascertaining the persons entitled to participate in such
payment or distribution, the holders of Senior Indebtedness and other indebtedness of the Company,
the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all
other facts pertinent thereto or to this Article.

ARTICLE 5

Particular Covenants of the Company

     Section 5.01. Payment of Principal and Interest. The Company covenants and agrees that it
will cause to be paid the principal of, and accrued and unpaid interest on each of the Notes at the
places, at the respective times and in the manner provided herein and in the Notes. Each
installment of accrued and unpaid interest on the Notes due on any Interest Payment Date may be
paid by mailing checks for the amount payable to or upon the written order of the Noteholders
entitled thereto as they shall appear on the registry books of the Company, provided that, with
respect to any Noteholder with an aggregate principal amount equal to or in excess of $2,000,000,
at the request of such holder in writing to the Company, accrued and unpaid interest on such
holder’s Notes shall be paid by wire transfer in immediately available funds in accordance with the
wire transfer instructions supplied by such holder from time to time to the Trustee and Paying
Agent (if different from Trustee) at least two days prior to the applicable record date;
provided further that payment of accrued and unpaid interest made to the Depositary shall
be paid by wire transfer in immediately available funds in accordance with such wire transfer
instructions and other procedures provided by the Depositary from time to time.

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     Section 5.02. Maintenance of Office or Agency. The Company will maintain in the Borough of
Manhattan, The City of New York, an office or agency where the Notes may be surrendered for
registration of transfer or exchange or for presentation for payment or repurchase (“Paying Agent”)
or for conversion (“Conversion Agent”) and where notices and demands to or upon the Company in
respect of the Notes and this Indenture may be served. The Company will give prompt written notice
to the Trustee of the location, and any change in the location, of such office or agency not
designated or appointed by the Trustee. If at any time the Company shall fail to maintain any such
required office or agency or shall fail to furnish the Trustee with the address thereof, such
presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office
or the office or agency of the Trustee in the Borough of Manhattan, The City of New York.

     The Company may also from time to time designate one or more other offices or agencies where
the Notes may be presented or surrendered for any or all such purposes and may from time to time
rescind such designations; provided that no such designation or rescission shall in any manner
relieve the Company of its obligation to maintain an office or agency in the Borough of Manhattan,
The City of New York, for such purposes. The Company will give prompt written notice to the
Trustee of any such designation or rescission and of any change in the location of any such other
office or agency. The terms Paying Agent and Conversion Agent include any such additional or other
offices or agencies, as applicable.

     The Company hereby initially designates the Trustee as the Paying Agent, Note registrar,
Custodian and Conversion Agent and the Corporate Trust Office and the office or agency of the
Trustee in the Borough of Manhattan shall be considered as one such office or agency of the Company
for each of the aforesaid purposes.

     So long as the Trustee is the Note registrar, the Trustee agrees to mail, or cause to be
mailed, the notices set forth in Section 8.10(a) and the third paragraph of Section 8.11.

     Section 5.03. Appointments to Fill Vacancies in Trustee’s Office. The Company, whenever
necessary to avoid or fill a vacancy in the office of Trustee, will appoint, in the manner provided
in Section 8.10, a Trustee, so that there shall at all times be a Trustee hereunder.

     Section 5.04. Provisions as to Paying Agent.

     (a) If the Company shall appoint a Paying Agent other than the Trustee or if the Trustee shall
appoint such a Paying Agent, the Company will cause such

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Paying Agent to execute and deliver to the Trustee an instrument in which such agent shall
agree with the Trustee, subject to the provisions of this Section 5.04:

     (i) that it will hold all sums held by it as such agent for the payment of the
principal of and accrued and unpaid interest on the Notes (whether such sums have been
paid to it by the Company or by any other obligor on the Notes) in trust for the benefit
of the holders of the Notes;

     (ii) that it will give the Trustee notice of any failure by the Company (or by any
other obligor on the Notes) to make any payment of the principal of and accrued and unpaid
interest on the Notes when the same shall be due and payable; and

     (iii) that at any time during the continuance of an Event of Default, upon request of
the Trustee, it will forthwith pay to the Trustee all sums so held in trust.

     The Company shall, on or before each due date of the principal of, or accrued and unpaid
interest on the Notes, deposit with the Paying Agent a sum sufficient to pay such principal or
accrued and unpaid interest, and (unless such Paying Agent is the Trustee) the Company will
promptly notify the Trustee of any failure to take such action, provided that if such deposit is
made on the due date, such deposit must be received by the Paying Agent by 11:00 a.m., New York
City time, on such date.

     (b) If the Company shall act as its own Paying Agent, it will, on or before each due date of
the principal of, or accrued and unpaid interest on the Notes, set aside, segregate and hold in
trust for the benefit of the holders of the Notes a sum sufficient to pay such principal and
accrued and unpaid interest, so becoming due and will notify the Trustee in writing of any failure
to take such action and of any failure by the Company (or any other obligor under the Notes) to
make any payment of the principal of, or accrued and unpaid interest on the Notes when the same
shall become due and payable.

     (c) Anything in this Section 5.04 to the contrary notwithstanding, the Company may, at any
time, for the purpose of obtaining a satisfaction and discharge of this Indenture, or for any other
reason, pay or cause to be paid to the Trustee all sums held in trust by the Company or any Paying
Agent hereunder as required by this Section 5.04, such sums to be held by the Trustee upon the
trusts herein contained and upon such payment by the Company or any Paying Agent to the Trustee,
the Company or such Paying Agent shall be released from all further liability with respect to such
sums.

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     (d) Anything in this Section 5.04 to the contrary notwithstanding, the agreement to hold sums
in trust as provided in this Section 5.04 is subject to Section 13.03 and Section 13.04.

     Section 5.05. Existence. Subject to Article 12, the Company will do or cause to be done all
things necessary to preserve and keep in full force and effect its corporate existence.

     Section 5.06. Stay, Extension and Usury Laws. The Company covenants (to the extent that it
may lawfully do so) that it shall not at any time insist upon, plead, or in any manner whatsoever
claim or take the benefit or advantage of, any stay, extension or usury law or other law which
would prohibit or forgive the Company from paying all or any portion of the principal of or
interest on the Notes as contemplated herein, wherever enacted, now or at any time hereafter in
force, or which may affect the covenants or the performance of this Indenture; and the Company (to
the extent it may lawfully do so) hereby expressly waives all benefit or advantage of any such law,
and covenants that it will not, by resort to any such law, hinder, delay or impede the execution of
any power herein granted to the Trustee, but will suffer and permit the execution of every such
power as though no such law had been enacted.

     Section 5.07. Compliance Certificate. The Company shall deliver to the Trustee within 120
days after the end of each fiscal year of the Company (beginning with the fiscal year ending on
December 31, 2007) an Officers’ Certificate stating whether or not to the best of their knowledge
the signers know of any default or Event of Default that occurred during such period. If they do,
such Officers’ Certificate shall describe the default or Event of Default and its status.

     Section 5.08. Further Instruments and Acts. Upon request of the Trustee, the Company will
execute and deliver such further instruments and do such further acts as may be reasonably
necessary or proper to carry out more effectively the purposes of this Indenture.

ARTICLE 6

Lists of Noteholders and Reports by the Company and the Trustee

     Section 6.01. Lists of Noteholders. The Company covenants and agrees that it will furnish or
cause to be furnished to the Trustee, semi-annually, not more than fifteen (15) days after each May
1 and November 1 in each year beginning with November 1, 2007, and at such other times as the
Trustee may request in writing, within thirty (30) days after receipt by the Company of any such
request (or such lesser time as the Trustee may reasonably request in order to enable it to

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timely provide any notice to be provided by it hereunder), a list in such form as the Trustee
may reasonably require of the names and addresses of the Noteholders as of a date not more than
fifteen (15) days (or such other date as the Trustee may reasonably request in order to so provide
any such notices) prior to the time such information is furnished, except that no such list need be
furnished so long as the Trustee is acting as Note registrar.

     Section 6.02. Preservation and Disclosure of Lists.

     (a) The Trustee shall preserve, in as current a form as is reasonably practicable, all
information as to the names and addresses of the Noteholders contained in the most recent list
furnished to it as provided in Section 6.01 or maintained by the Trustee in its capacity as Note
registrar, if so acting. The Trustee may destroy any list furnished to it as provided in Section
6.01 upon receipt of a new list so furnished.

     (b) The rights of Noteholders to communicate with other Noteholders with respect to their
rights under this Indenture or under the Notes and the corresponding rights and duties of the
Trustee, shall be as provided by the Trust Indenture Act.

     (c) Every Noteholder, by receiving and holding the same, agrees with the Company and the
Trustee that neither the Company nor the Trustee nor any agent of either of them shall be held
accountable by reason of any disclosure of information as to names and addresses of Noteholders
made pursuant to the Trust Indenture Act.

     Section 6.03. Reports by Trustee.

     (a) Within sixty (60) days after July 15 of each year commencing with the year 2007, the
Trustee shall transmit to Noteholders such reports dated as of July 15 of each year in which such
reports are made concerning the Trustee and its actions under this Indenture as may be required
pursuant to the Trust Indenture Act at the times and in the manner provided pursuant thereto.

     (b) A copy of such report shall, at the time of such transmission to Noteholders, be filed by
the Trustee with each stock exchange and automated quotation system upon which the Notes are listed
and with the Company. The Company will notify the Trustee in writing within a reasonable time when
the Notes are listed on any stock exchange or automated quotation system and when any such listing
is discontinued.

     Section 6.04. Reports by Company.

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     (a) After this Indenture has been qualified under the Trust Indenture Act, the Company shall
file with the Trustee and the Commission, and transmit to Noteholders, such information, documents
and other reports and such summaries thereof, as may be required pursuant to the Trust Indenture
Act at the times and in the manner provided pursuant to such Act; provided that any such
information, documents or reports required to be filed with the Commission pursuant to Section 13
or 15(d) of the Exchange Act shall be delivered to the Trustee within 15 days after the same is so
required to be filed with the Commission.

     (b) Delivery of such reports, information and documents to the Trustee is for informational
purposes only, and the Trustee’s receipt of such shall not constitute constructive notice of any
information contained therein or determinable from information contained therein, including the
Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to
conclusively rely exclusively on an Officers’ Certificate).

ARTICLE 7

Defaults and Remedies

     Section 7.01. Events of Default. The following events shall be Events of Default with
respect to the Notes:

     (a) default in the payment of the principal of the Notes as and when the same shall become due
and payable either at maturity or in connection with any repurchase or otherwise, whether or not
such payment is prohibited by the provisions of Article 4; or

     (b) default for thirty (30) days in the payment of any installment of interest, upon any of
the Notes as and when the same shall become due and payable, whether or not such payment is
prohibited by the provisions of Article 4; or

     (c) failure to pay when due in accordance with the Indenture (including the provisions set
forth under Section 15.03), the Principal Return in cash, together with any cash in lieu of
fractional shares as required under Section 15.02, or to deliver when due the Net Shares and such
failure continues for 5 days; or

     (d) failure on the part of the Company to duly to observe or perform any other of the
covenants on the part of the Company in the Notes or in this Indenture (other than a covenant
default in whose performance or whose breach is elsewhere in this Section specifically dealt with)
and the continuance of such failure for a period of sixty (60) days after the date on which written
notice of such failure, requiring the Company to remedy the same, shall have been given to

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the Company by the Trustee, or to the Company and a Responsible Officer of the Trustee by the
holders of at least 25% in aggregate principal amount of Notes at the time outstanding, determined
in accordance with Section 9.04; or

     (e) a default in the payment of the Fundamental Change Repurchase Price in respect of any Note
on the Fundamental Change Repurchase Date in accordance with the provisions of Article 16, whether
or not such payment is prohibited by the provisions of Article 4; or

     (f) failure on the part of the Company to provide a written notice of a Fundamental Change in
accordance with Section 16.02; or

     (g) the Company or any Significant Subsidiary shall commence a voluntary case or other
proceeding seeking liquidation, reorganization or other relief with respect to the Company or its
debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or seeking
the appointment of a trustee, receiver, liquidator, custodian or other similar official of the
Company or any substantial part of its property, or shall consent to any such relief or to the
appointment of or taking possession by any such official in an involuntary case or other proceeding
commenced against it, or shall make a general assignment for the benefit of creditors, or shall
fail generally to pay its debts as they become due; or

     (h) an involuntary case or other proceeding shall be commenced against the Company or any
Significant Subsidiary seeking liquidation, reorganization or other relief with respect to the
Company or its debts under any bankruptcy, insolvency or other similar law now or hereafter in
effect or seeking the appointment of a trustee, receiver, liquidator, custodian or other similar
official of the Company or any substantial part of its property, and such involuntary case or other
proceeding shall remain undismissed and unstayed for a period of ninety (90) consecutive days; or

     (i) The failure by the Company or any Significant Subsidiary to make any payment by the end of
the applicable grace period, if any, after the maturity of any Indebtedness of the Company or such
Significant Subsidiary for borrowed money in an aggregate principal amount in excess of
$25,000,000, or if there is an acceleration of Indebtedness for borrowed money in such principal
amount because of a default with respect to such Indebtedness without such Indebtedness having been
discharged or such acceleration having been cured, waived, rescinded or annulled, in either case,
for a period of 60 days after written notice to the Company by the Trustee or to the Company and
the Trustee by holders of at least 25% in aggregate principal amount of the Notes then outstanding,
determined in accordance with Section 9.04.

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     Subject to Section 7.10 below, in case one or more Events of Default shall have occurred and
be continuing (whatever the reason for such Event of Default and whether it shall be voluntary or
involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any
court or any order, rule or regulation of any administrative or governmental body), then, and in
each and every such case (other than an Event of Default specified in Section 7.01(g) or Section
7.01(h) with respect to the Company), unless the principal of all of the Notes shall have already
become due and payable, either the Trustee or the holders of not less than 25% in aggregate
principal amount of the Notes then outstanding determined in accordance with Section 9.04, by
notice in writing to the Company (and to the Trustee if given by Noteholders), may declare the
principal of, and accrued and unpaid interest on all the Notes to be due and payable immediately,
and upon any such declaration the same shall become and shall be immediately due and payable,
anything in this Indenture or in the Notes contained to the contrary notwithstanding. If an Event
of Default specified in Section 7.01(g) or Section 7.01(h) occurs and is continuing with respect to
the Company, the principal of all the Notes and accrued and unpaid interest shall be immediately
due and payable. This provision, however, is subject to the conditions that if, at any time after
the principal of the Notes shall have been so declared due and payable, and before any judgment or
decree for the payment of the monies due shall have been obtained or entered as hereinafter
provided, the Company shall pay or shall deposit with the Trustee a sum sufficient to pay
installments of accrued and unpaid interest upon all Notes and the principal of any and all Notes
that shall have become due otherwise than by acceleration (with interest on overdue installments of
accrued and unpaid interest (to the extent that payment of such interest is enforceable under
applicable law) and on such principal, at the rate of [ ]% per year) and amounts due to the
Trustee pursuant to Section 8.06, and if any and all defaults under this Indenture, other than the
nonpayment of principal of and accrued and unpaid interest on Notes that shall have become due by
acceleration, shall have been cured or waived pursuant to Section 7.07, then and in every such case
the holders of a majority in aggregate principal amount of the Notes then outstanding, by written
notice to the Company and to the Trustee, may waive all defaults or Events of Default with respect
to the Notes and rescind and annul such declaration and its consequences and such default shall
cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for
every purpose of this Indenture; but no such waiver or rescission and annulment shall extend to or
shall affect any subsequent default or Event of Default, or shall impair any right consequent
thereon. The Company shall notify the Responsible Officer of the Trustee, promptly upon becoming
aware thereof, of any Event of Default by delivering to the Trustee a statement specifying such
Event of Default.

     In case the Trustee shall have proceeded to enforce any right under this Indenture and such
proceedings shall have been discontinued or abandoned

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because of such waiver or rescission and annulment or for any other reason or shall have been
determined adversely to the Trustee, then and in every such case the Company, the Noteholders, and
the Trustee shall, subject to any determination in such proceeding, be restored respectively to
their several positions and rights hereunder, and all rights, remedies and powers of the Company,
the Noteholders, and the Trustee shall continue as though no such proceeding had been instituted.

     Section 7.02. Payments of Notes on Default; Suit Therefor. In the event that the Trustee or
the holders of not less than twenty-five percent (25%) in aggregate principal amount of the Notes
then outstanding hereunder have declared the principal of all Notes (including accrued and unpaid
interest) to be due and payable immediately in accordance with Section 7.01, and the Company shall
have failed forthwith to pay such amounts, the Trustee, in its own name and as trustee of an
express trust, shall be entitled and empowered to institute any actions or proceedings at law or in
equity for the collection of the sums so due and unpaid (including such further amounts as shall be
sufficient to cover the reasonable costs and expenses of collection, including reasonable
compensation to the Trustee, its agents, attorneys and counsel, and any expenses or liabilities
incurred by the Trustee hereunder other than through its negligence or bad faith), and may
prosecute any such action or proceeding to judgment or final degree, and may enforce any such
judgment or final decree against the Company or any other obligor on the Notes and collect in the
manner provided by law out of the property of the Company or any other obligor on the Notes
wherever situated the monies adjudged or decreed to be payable.

     In the case there shall be pending proceedings for the bankruptcy or for the reorganization of
the Company or any other obligor on the Notes under title 11 of the United States Code, or any
other applicable law, or in case a receiver, assignee or trustee in bankruptcy or reorganization,
liquidator, sequestrator or similar official shall have been appointed for or taken possession of
the Company or such other obligor, the property of the Company or such other obligor, or in the
case of any other judicial proceedings relative to the Company or such other obligor upon the
Notes, or to the creditors or property of the Company or such other obligor, the Trustee,
irrespective of whether the principal of the Notes shall then be due and payable as therein
expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made
any demand pursuant to the provisions of this Section 7.02, shall be entitled and empowered, by
intervention in such proceedings or otherwise, to file and prove a claim or claims for the whole
amount of principal and accrued and unpaid interest in respect of the Notes, and, in case of any
judicial proceedings, to file such proofs of claim and other papers or documents and to take such
other actions as it may deem necessary or advisable in order to have the claims of the Trustee
(including any claim for the reasonable compensation, expenses, disbursements and advances of the
Trustee, its agents and counsel) and of the Noteholders allowed in such judicial

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proceedings relative to the Company or any other obligor on the Notes, its or their creditors,
or its or their property, and to collect and receive any monies or other property payable or
deliverable on any such claims, and to distribute the same after the deduction of any amounts due
the Trustee under Section 8.06; and any receiver, assignee or trustee in bankruptcy or
reorganization, liquidator, custodian or similar official is hereby authorized by each of the
Noteholders to make such payments to the Trustee, as administrative expenses, and, in the event
that the Trustee shall consent to the making of such payments directly to the Noteholders, to pay
to the Trustee any amount due it for reasonable compensation, expenses, advances and disbursements,
including agents and counsel fees, and including any other amounts due to the Trustee under Section
8.06 hereof, incurred by it up to the date of such distribution. To the extent that such payment
of reasonable compensation, expenses, advances and disbursements out of the estate in any such
proceedings shall be denied for any reason, payment of the same shall be secured by a lien on, and
shall be paid out of, any and all distributions, dividends, monies, securities and other property
which the holders of the Notes may be entitled to receive in such proceedings, whether in
liquidation or under any plan of reorganization or arrangement or otherwise.

     Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to
or accept or adopt on behalf of any Noteholder any plan of reorganization, arrangement, adjustment
or composition affecting the Noteholder or the rights of any Noteholder thereof, or to authorize
the Trustee to vote in respect of the claim of any Noteholder in any such proceeding.

     All rights of action and of asserting claims under this Indenture, or under any of the Notes,
may be enforced by the Trustee without the possession of any of the Notes, or the production
thereof at any trial or other proceeding relative thereto, and any such suit or proceeding
instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any
recovery of judgment shall, after provision for the payment of the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable
benefit of the holders of the Notes.

     In any proceedings brought by the Trustee (and in any proceedings involving the interpretation
of any provision of this Indenture to which the Trustee shall be a party) the Trustee shall be held
to represent all the holders of the Notes, and it shall not be necessary to make any holders of the
Notes parties to any such proceedings.

     Section 7.03. Application of Monies Collected by Trustee. Any monies collected by the
Trustee pursuant to this Article 7 with respect to the Notes shall be applied in the order
following, at the date or dates fixed by the Trustee for the distribution of such monies, upon
presentation of the several Notes, and stamping

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thereon the payment, if only partially paid, and upon surrender thereof, if fully paid:

     First, to the payment of all amounts due the Trustee under Section 8.06;

     Second, subject to the provisions of Article 4, in case the principal of the outstanding Notes
shall not have become due and be unpaid, to the payment of interest on the Notes, if any, in
default in the order of the maturity of the installments of such interest, with interest (to the
extent that such interest has been collected by the Trustee) upon the overdue installments of
interest at the rate borne by the Notes, such payments to be made ratably to the Persons entitled
thereto;

     Third, subject to the provisions of Article 4, in case the principal of the outstanding Notes
shall have become due, by declaration or otherwise, and be unpaid to the payment of the whole
amount including the payment of the Fundamental Change Repurchase Price and the Principal Return,
then owing and unpaid upon the Notes for principal and interest, with interest on the overdue
principal and (to the extent that such interest has been collected by the Trustee) upon overdue
installments of interest at the rate borne by the Notes, and in case such monies shall be
insufficient to pay in full the whole amounts so due and unpaid upon the Notes, then to the payment
of such principal and interest without preference or priority of principal over interest, or of
interest over principal, or of any installment of interest over any other installment of interest,
or of any Note over any other Note, ratably to the aggregate of such principal and accrued and
unpaid interest; and

     Fourth, to the payment of the remainder, if any, to the Company or any other Person lawfully
entitled thereto.

     Section 7.04. Proceedings by Noteholders. No holder of any Note shall have any right by
virtue of or by availing of any provision of this Indenture to institute any suit, action or
proceeding in equity or at law upon or under or with respect to this Indenture, or for the
appointment of a receiver, trustee, liquidator, custodian or other similar official, or for any
other remedy hereunder, unless such holder previously shall have given to the Trustee written
notice of an Event of Default and of the continuance thereof, as hereinbefore provided, and unless
also the holders of not less than 25% in aggregate principal amount of the Notes then outstanding
shall have made written request upon the Trustee to institute such action, suit or proceeding in
its own name as Trustee hereunder and shall have offered to the Trustee such indemnity it may
require against the costs, expenses and liabilities to be incurred therein or thereby, and the
Trustee for sixty (60) days after its receipt of such notice, request and offer of indemnity, shall
have neglected or refused to institute any such action, suit or proceeding and no

41

 

direction inconsistent with such written request shall have been given to the Trustee by the
Noteholders pursuant to Section 7.07; it being understood and intended, and being expressly
covenanted by the taker and holder of every Note with every other taker and holder and the Trustee,
that no one or more Noteholders shall have any right in any manner whatever by virtue of or by
availing of any provision of this Indenture to affect, disturb or prejudice the rights of any other
Noteholder, or to obtain or seek to obtain priority over or preference to any other such holder, or
to enforce any right under this Indenture, except in the manner herein provided and for the equal,
ratable and common benefit of all Noteholders (except as otherwise provided herein). For the
protection and enforcement of this Section 7.04, each and every Noteholder and the Trustee shall be
entitled to such relief as can be given either at law or in equity.

     Notwithstanding any other provision of this Indenture and any provision of any Note, the right
of any Noteholder to receive payment of the principal of and accrued and unpaid interest on such
Note, on or after the respective due dates expressed in such Note, or to institute suit for the
enforcement of any such payment on or after such respective dates against the Company shall not be
impaired or affected without the consent of such Noteholder.

     Anything in this Indenture or the Notes to the contrary notwithstanding, the holder of any
Note, without the consent of either the Trustee or the holder of any other Note, in his own behalf
and for his own benefit, may enforce, and may institute and maintain any proceeding suitable to
enforce, his rights of conversion as provided herein.

     Section 7.05. Proceedings by Trustee. In case of an Event of Default the Trustee may in its
discretion proceed to protect and enforce the rights vested in it by this Indenture by such
appropriate judicial proceedings as are necessary to protect and enforce any of such rights, either
by suit in equity or by action at law or by proceeding in bankruptcy or otherwise, whether for the
specific enforcement of any covenant or agreement contained in this Indenture or in aid of the
exercise of any power granted in this Indenture, or to enforce any other legal or equitable right
vested in the Trustee by this Indenture or by law.

     Section 7.06. Remedies Cumulative and Continuing. Except as provided in the last paragraph
of Section 2.07, all powers and remedies given by this Article 7 to the Trustee or to the
Noteholders shall, to the extent permitted by law, be deemed cumulative and not exclusive of any
thereof or of any other powers and remedies available to the Trustee or the holders of the Notes,
by judicial proceedings or otherwise, to enforce the performance or observance of the covenants and
agreements contained in this Indenture, and no delay or omission of the Trustee or of any holder of
any of the Notes to exercise any right or power accruing upon any default or Event of Default shall
impair any such right or

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power, or shall be construed to be a waiver of any such default or any acquiescence therein;
and, subject to the provisions of Section 7.04, every power and remedy given by this Article 7 or
by law to the Trustee or to the Noteholders may be exercised from time to time, and as often as
shall be deemed expedient, by the Trustee or by the Noteholders.

     Section 7.07. Direction of Proceedings and Waiver of Defaults by Majority of Noteholders.
The holders of a majority in aggregate principal amount of the Notes at the time outstanding
determined in accordance with Section 9.04 shall have the right to direct the time, method, and
place of conducting any proceeding for any remedy available to the Trustee or exercising any trust
or power conferred on the Trustee with respect to Notes; provided, however, that (a) such direction
shall not be in conflict with any rule of law or with this Indenture, and (b) the Trustee may take
any other action deemed proper by the Trustee that is not inconsistent with such direction. The
holders of a majority in aggregate principal amount of the Notes at the time outstanding determined
in accordance with Section 9.04 may on behalf of the holders of all of the Notes waive any past
default or Event of Default hereunder and its consequences except (i) a default in the payment of
accrued and unpaid interest on, or the principal of, the Notes when due which has not been cured
pursuant to the provisions of Section 7.01, (ii) a failure by the Company to deliver Net Shares (or
cash in lieu of fractional shares) upon conversion of the Notes (iii) a default in respect of a
covenant or provisions hereof which under Article 11 cannot be modified or amended without the
consent of the holders of all Notes then outstanding. Upon any such waiver the Company, the
Trustee and the holders of the Notes shall be restored to their former positions and rights
hereunder; but no such waiver shall extend to any subsequent or other default or Event of Default
or impair any right consequent thereon. Whenever any default or Event of Default hereunder shall
have been waived as permitted by this Section 7.07, said default or Event of Default shall for all
purposes of the Notes and this Indenture be deemed to have been cured and to be not continuing; but
no such waiver shall extend to any subsequent or other default or Event of Default or impair any
right consequent thereon.

     Section 7.08. Notice of Defaults. The Trustee shall, within ninety (90) days after the
occurrence of a Default of which a Responsible Officer has actual knowledge, mail to all
Noteholders as the names and addresses of such holders appear upon the Note register, notice of all
Defaults known to a Responsible Officer, unless such Defaults shall have been cured or waived
before the giving of such notice; and provided that, except in the case of Default in the payment
of the principal of (including the Principal Return) or accrued and unpaid interest on any of the
Notes, including without limiting the generality of the foregoing any Default in the payment of any
Fundamental Change Repurchase Price, then in any such event the Trustee shall be protected in
withholding such notice if and so long as a trust committee of directors and/or Responsible
Officers of the Trustee in

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good faith determine that the withholding of such notice is in the interests of the
Noteholders.

     Section 7.09. Undertaking to Pay Costs. All parties to this Indenture agree, and each holder
of any Note by his acceptance thereof shall be deemed to have agreed, that any court may, in its
discretion, require, in any suit for the enforcement of any right or remedy under this Indenture,
or in any suit against the Trustee for any action taken or omitted by it as Trustee, the filing by
any party litigant in such suit of an undertaking to pay the costs of such suit and that such court
may in its discretion assess reasonable costs, including reasonable attorneys’ fees, against any
party litigant in such suit, having due regard to the merits and good faith of the claims or
defenses made by such party litigant; provided that the provisions of this Section 7.09 (to the
extent permitted by law) shall not apply to any suit instituted by the Trustee, to any suit
instituted by any Noteholder, or group of Noteholders, holding in the aggregate more than 10% in
principal amount of the Notes at the time outstanding determined in accordance with Section 9.04,
or to any suit instituted by any Noteholder for the enforcement of the payment of the principal of,
or accrued and unpaid interest on any Note (including, but not limited to, the Fundamental Change
Repurchase Price with respect to the Notes being repurchased as provided in this Indenture) on or
after the due date expressed in such Note or to any suit for the enforcement of the right to
convert any Note in accordance with the provisions of Article 15.

     Section 7.10. Failure to File Reports. Notwithstanding anything to the contrary in this
Article 7, to the extent elected by the Company as a remedy pursuant to this Section 7.10 in the
manner set forth under Section 7.11 below, the sole remedy for an Event of Default set forth in
Section 7.01(d) above relating to any failure to comply with the requirements of Section 314(a)(1)
of the Trust Indenture Act shall, for the first 120 days after the occurrence of such an Event of
Default, consist exclusively of the right to receive an extension fee on the Notes in an amount
equal to 0.25% of the principal amount of the Notes. If the Company so elects, the extension fee
shall be payable on all outstanding Notes on the date on which an Event of Default relating to a
failure to comply with the reporting obligations in the Indenture first occurs, which will be the
60th day after written notice to the Company of the Company’s failure to so comply as described
under Section 7.01(d) above. On the 120th day after such Event of Default (if the Event of Default
relating to the reporting obligations is not cured or waived prior to such 120th day), the Notes
shall be subject to acceleration as provided in this Article 7. The provisions of this Section 7.10
shall not affect the rights of Noteholders in the event of the occurrence of any other Event of
Default. In the event the Company does not elect to pay the extension fee upon an Event of Default
in accordance with this Section 7.10, the Notes shall be subject to acceleration as provided in
this Article 7.

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     Section 7.11. Extension Fee. In order to elect to pay the extension fee as the sole remedy
during the first 120 days after the occurrence of an Event of Default relating to the failure to
comply with the reporting obligations in accordance with Section 7.10, the Company must notify all
Noteholders and the Trustee and Paying Agent of such election on or before the close of business on
the date on which such Event of Default occurs, which will be the 60th day after written notice to
the Company of its failure to so comply as described under Section 7.01(d) above.

ARTICLE 8

Concerning the Trustee

     Section 8.01. Duties and Responsibilities of Trustee. The Trustee, prior to the occurrence
of an Event of Default and after the curing or waiver of all Events of Default which may have
occurred, undertakes to perform such duties and only such duties as are specifically set forth in
this Indenture. In case an Event of Default has occurred (which has not been cured or waived) the
Trustee shall exercise such of the rights and powers vested in it by this Indenture, and use the
same degree of care and skill in their exercise, as a prudent person would exercise or use under
the circumstances in the conduct of such person’s own affairs.

     No provision of this Indenture shall be construed to relieve the Trustee from liability for
its own negligent action, its own negligent failure to act or its own willful misconduct, except
that

     (a) prior to the occurrence of an Event of Default and after the curing or waiving of all
Events of Default which may have occurred:

     (i) the duties and obligations of the Trustee shall be determined solely by the
express provisions of this Indenture and, after it has been qualified thereunder, the
Trust Indenture Act, and the Trustee shall not be liable except for the performance of
such duties and obligations as are specifically set forth in this Indenture and no implied
covenants or obligations shall be read into this Indenture and the Trust Indenture Act
against the Trustee; and

     (ii) in the absence of bad faith and willful misconduct on the part of the Trustee,
the Trustee may conclusively rely, as to the truth of the statements and the correctness
of the opinions expressed therein, upon any certificates or opinions furnished to the
Trustee and conforming to the requirements of this Indenture; but, in the case of any such
certificates or opinions which by any provisions hereof are specifically required to be
furnished to the Trustee, the Trustee shall be under a duty to examine the

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     same to determine whether or not they conform to the requirements of this Indenture;

     (b) the Trustee shall not be liable for any error of judgment made in good faith by a
Responsible Officer or Officers of the Trustee, unless it shall be established by a court of
competent jurisdiction that the Trustee was negligent in ascertaining the pertinent facts;

     (c) the Trustee shall not be liable with respect to any action taken or omitted to be taken by
it in good faith in accordance with the direction of the holders of not less than a majority in
principal amount of the Notes at the time outstanding determined as provided in Section 9.04
relating to the time, method and place of conducting any proceeding for any remedy available to the
Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture;

     (d) whether or not therein provided, every provision of this Indenture relating to the conduct
or affecting the liability of, or affording protection to, the Trustee shall be subject to the
provisions of this Section;

     (e) the Trustee shall not be liable in respect of any payment (as to the correctness of
amount, entitlement to receive or any other matters relating to payment) or notice effected by the
Company or any Paying Agent or any records maintained by any co-registrar with respect to the
Notes;

     (f) if any party fails to deliver a notice relating to an event the fact of which, pursuant to
this Indenture, requires notice to be sent to the Trustee, the Trustee may conclusively rely on its
failure to receive such notice as reason to act as if no such event occurred, unless such
Responsible Officer of the Trustee had actual knowledge of such event;

     (g) in the absence of written investment direction from the Company, all cash received by the
Trustee shall be placed in a non-interest bearing trust account. In no event shall the Trustee be
liable for the selection of investments or for investment losses incurred thereon or for losses
incurred as a result of the liquidation of any such investments prior to its stated maturity or the
failure of the party directing such investments prior to its stated maturity or the failure of the
party directing such investment to provide timely written investment direction, and the Trustee
shall have no obligation to invest or reinvest any amounts held hereunder in the absence of such
written investment direction from the Company; and

     (h) in the event that the Trustee is also acting as Custodian, Note Registrar, Paying Agent,
Conversion Agent or transfer agent hereunder, the rights and protections afforded to the Trustee
pursuant to this Article 8 shall also be

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afforded to such Custodian, Note Registrar, Paying Agent, Conversion Agent or transfer agent.

     None of the provisions contained in this Indenture shall require the Trustee to expend or risk
its own funds or otherwise incur personal financial liability in the performance of any of its
duties or in the exercise of any of its rights or powers.

     Section 8.02. Reliance on Documents, Opinions, Etc. Except as otherwise provided in Section
8.01:

     (a) the Trustee may conclusively rely and shall be fully protected in acting upon any
resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order,
bond, note, coupon or other paper or document believed by it in good faith to be genuine and to
have been signed or presented by the proper party or parties;

     (b) any request, direction, order or demand of the Company mentioned herein shall be
sufficiently evidenced by an Officers’ Certificate (unless other evidence in respect thereof be
herein specifically prescribed); and any resolution of the Board of Directors may be evidenced to
the Trustee by a copy thereof certified by the Secretary or an Assistant Secretary of the Company;

     (c) the Trustee may consult with counsel and require an opinion of counsel and any advice of
such counsel or Opinion of Counsel shall be full and complete authorization and protection in
respect of any action taken or omitted by it hereunder in good faith and in accordance with such
advice or Opinion of Counsel;

     (d) the Trustee shall be under no obligation to exercise any of the rights or powers vested in
it by this Indenture at the request, order or direction of any of the Noteholders pursuant to the
provisions of this Indenture, unless such Noteholders shall have offered to the Trustee security or
indemnity satisfactory to it against the costs, expenses and liabilities which may be incurred
therein or thereby;

     (e) the Trustee shall not be bound to make any investigation into the facts or matters stated
in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction,
consent, order, bond, debenture or other paper or document, but the Trustee, in its discretion, may
make such further inquiry or investigation into such facts or matters as it may see fit, and, if
the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to
examine the books, records and premises of the Company, personally or by agent or attorney;
provided, however, that if the payment within a

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reasonable time to the Trustee of the costs, expenses or liabilities likely to be incurred by
it in the making of such investigation is, in the opinion of the Trustee, not reasonably assured to
the Trustee by the security afforded to it by the terms of this Indenture, the Trustee may require
indemnity satisfactory to the Trustee from the Noteholders against such expenses or liability as a
condition to so proceeding; the reasonable expenses of every such examination shall be paid by the
Company or, if paid by the Trustee or any predecessor Trustee, shall be repaid by the Company upon
demand; and

     (f) the Trustee may execute any of the trusts or powers hereunder or perform any duties
hereunder either directly or by or through agents, custodians, nominees or attorneys and the
Trustee shall not be responsible for any misconduct or negligence on the part of any agent,
custodian, nominee or attorney appointed by it with due care hereunder.

     In no event shall the Trustee be liable for any consequential loss or damage of any kind
whatsoever (including but not limited to lost profits), even if the Trustee has been advised of the
likelihood of such loss or damage and regardless of the form of action other than through the
Trustee’s willful misconduct or gross negligence. The Trustee shall not be charged with knowledge
of any default or Event of Default with respect to the Notes, unless either (1) a Responsible
Officer shall have actual knowledge of such default or Event of Default or (2) written notice of
such default or Event of Default shall have been given to the Trustee by the Company or by any
holder of the Notes. The permissive rights of the Trustee enumerated herein shall not be construed
as duties.

     Section 8.03. No Responsibility for Recitals, Etc. The recitals contained herein and in the
Notes (except in the Trustee’s certificate of authentication) shall be taken as the statements of
the Company, and the Trustee assumes no responsibility for the correctness of the same. The
Trustee makes no representations as to the validity or sufficiency of this Indenture or of the
Notes. The Trustee shall not be accountable for the use or application by the Company of any Notes
or the proceeds of any Notes authenticated and delivered by the Trustee in conformity with the
provisions of this Indenture.

     Section 8.04. Trustee, Paying Agents, Conversion Agents or Registrar May Own Notes. The
Trustee, any Paying Agent, any Conversion Agent or Note registrar, in its individual or any other
capacity, may become the owner or pledgee of Notes with the same rights it would have if it were
not Trustee, Paying Agent, Conversion Agent or Note registrar.

     Section 8.05. Monies to be Held in Trust. Subject to the provisions of Section 4.02 and
Section 13.04, all monies received by the Trustee shall, until

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used or applied as herein provided, be held in trust for the purposes for which they were
received. Money held by the Trustee in trust hereunder need not be segregated from other funds
except to the extent required by law. The Trustee shall be under no liability for interest on any
money received by it hereunder except as may be agreed from time to time by the Company and the
Trustee.

     Section 8.06. Compensation and Expenses of Trustee. The Company covenants and agrees to pay
to the Trustee from time to time, and the Trustee shall be entitled to, reasonable compensation for
all services rendered by it hereunder in any capacity (which shall not be limited by any provision
of law in regard to the compensation of a trustee of an express trust) as mutually agreed to in
writing between the Trustee and the Company, and the Company will pay or reimburse the Trustee upon
its request for all reasonable expenses, disbursements and advances reasonably incurred or made by
the Trustee in accordance with any of the provisions of this Indenture (including the reasonable
compensation and the expenses and disbursements of its agents and counsel and of all persons not
regularly in its employ) except any such expense, disbursement or advance as may arise from its
negligence, willful misconduct or bad faith. The Company also covenants to indemnify the Trustee
in any capacity under this Indenture and any other document or transaction entered into in
connection herewith and its agents and any authenticating agent for, and to hold them harmless
against, any loss, liability or expense incurred without negligence, willful misconduct or bad
faith on the part of the Trustee, its officers, directors, agents or employees, or such agent or
authenticating agent, as the case may be, and arising out of or in connection with the acceptance
or administration of this trust or in any other capacity hereunder, including the costs and
expenses of defending themselves against any claim of liability in the premises. The Company shall
defend the claim and the Trustee shall cooperate with the defense. The Company need not pay for
any settlement made without its consent, which consent shall not be unreasonably withheld. The
obligations of the Company under this Section 8.06 to compensate or indemnify the Trustee and to
pay or reimburse the Trustee for expenses, disbursements and advances shall be secured by a lien
prior to that of the Notes upon all property and funds held or collected by the Trustee as such,
except, subject to the effect of Section 4.03 and Section 7.06, funds held in trust herewith for
the benefit of the holders of particular Notes prior to the date of the accrual of such unpaid
compensation or indemnifiable claim. The Trustee’s right to receive payment of any amounts due
under this Section 8.06 shall not be subordinate to any other liability or indebtedness of the
Company (even though the Notes may be so subordinated). The obligation of the Company under this
Section 8.06 shall survive the satisfaction and discharge of this Indenture and the earlier
resignation or removal or the Trustee. The indemnification provided in this Section 8.06 shall
extend to the officers, directors, agents and employees of the Trustee.

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     When the Trustee and its agents and any authenticating agent incur expenses or render services
after an Event of Default specified in Section 7.01(g) or Section 7.01(h) occurs, the expenses and
the compensation for the services are intended to constitute expenses of administration under any
bankruptcy, insolvency or similar laws.

     Section 8.07. Officers’ Certificate as Evidence. Except as otherwise provided in Section
8.01, whenever in the administration of the provisions of this Indenture the Trustee shall deem it
necessary or desirable that a matter be proved or established prior to taking or omitting any
action hereunder, such matter (unless other evidence in respect thereof be herein specifically
prescribed) may, in the absence of negligence, willful misconduct, recklessness and bad faith on
the part of the Trustee, be deemed to be conclusively proved and established by an Officers’
Certificate delivered to the Trustee, and such Officers’ Certificate, in the absence of negligence,
willful misconduct, recklessness and bad faith on the part of the Trustee, shall be full warrant to
the Trustee for any action taken or omitted by it under the provisions of this Indenture upon the
faith thereof.

     Section 8.08. Conflicting Interests of Trustee. After qualification under the Trust
Indenture Act, if the Trustee has or shall acquire a conflicting interest within the meaning of the
Trust Indenture Act, the Trustee shall either eliminate such interest or resign, to the extent and
in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this
Indenture.

     Section 8.09. Eligibility of Trustee. There shall at all times be a Trustee hereunder which
shall be a person that is eligible pursuant to the Trust Indenture Act to act as such and has a
combined capital and surplus of at least $50,000,000. If such person publishes reports of
condition at least annually, pursuant to law or to the requirements of any supervising or examining
authority, then for the purposes of this Section, the combined capital and surplus of such person
shall be deemed to be its combined capital and surplus as set forth in its most recent report of
condition so published. If at any time the Trustee shall cease to be eligible in accordance with
the provisions of this Section, it shall resign immediately in the manner and with the effect
hereinafter specified in this Article.

     Section 8.10. Resignation or Removal of Trustee.

     (a) The Trustee may at any time resign by giving written notice of such resignation to the
Company and by mailing notice thereof to the Noteholders at their addresses as they shall appear on
the Note register. Upon receiving such notice of resignation, the Company shall promptly appoint a
successor trustee by written instrument, in duplicate, executed by order of the Board of Directors,
one copy of which instrument shall be delivered to the resigning Trustee and one copy to the
successor trustee. If no successor trustee shall have been so appointed and

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have accepted appointment sixty (60) days after the mailing of such notice of resignation to
the Noteholders, the resigning Trustee may petition any court of competent jurisdiction for the
appointment of a successor trustee, or any Noteholder who has been a bona fide holder of a Note or
Notes for at least six months may, subject to the provisions of Section 7.09, on behalf of himself
and all others similarly situated, petition any such court for the appointment of a successor
trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe,
appoint a successor trustee.

     (b) In case at any time any of the following shall occur:

     (i) the Trustee shall fail to comply with Section 8.08 within a reasonable time after
written request therefor by the Company or by any Noteholder who has been a bona fide
holder of a Note or Notes for at least six (6) months, or

     (ii) the Trustee shall cease to be eligible in accordance with the provisions of
Section 8.09 and shall fail to resign after written request therefor by the Company or by
any such Noteholder, or

     (iii) the Trustee shall become incapable of acting, or shall be adjudged a bankrupt
or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any
public officer shall take charge or control of the Trustee or of its property or affairs
for the purpose of rehabilitation, conservation or liquidation,

     then, in any such case, the Company may by a Board Resolution remove the Trustee and appoint a
successor trustee by written instrument, in duplicate, executed by order of the Board of Directors,
one copy of which instrument shall be delivered to the Trustee so removed and one copy to the
successor trustee, or, subject to the provisions of Section 7.09, any Noteholder who has been a
bona fide holder of a Note or Notes for at least six (6) months may, on behalf of himself and all
others similarly situated, petition any court of competent jurisdiction for the removal of the
Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice,
if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.

     (c) The holders of a majority in aggregate principal amount of the Notes at the time
outstanding may at any time remove the Trustee and nominate a successor trustee which shall be
deemed appointed as successor trustee unless within ten (10) days after notice to the Company of
such nomination the Company objects thereto, in which case the Trustee so removed or any
Noteholder, upon the terms and conditions and otherwise as in Section 8.10(a)

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provided, may petition any court of competent jurisdiction for an appointment of a successor
trustee.

     (d) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant
to any of the provisions of this Section 8.10 shall become effective upon acceptance of appointment
by the successor trustee as provided in Section 8.11.

     Section 8.11. Acceptance by Successor Trustee. Any successor trustee appointed as provided
in Section 8.10 shall execute, acknowledge and deliver to the Company and to its predecessor
trustee an instrument accepting such appointment hereunder, and thereupon the resignation or
removal of the predecessor trustee shall become effective and such successor trustee, without any
further act, deed or conveyance, shall become vested with all the rights, powers, duties and
obligations of its predecessor hereunder, with like effect as if originally named as trustee
herein; but, nevertheless, on the written request of the Company or of the successor trustee, the
trustee ceasing to act shall, upon payment of any amounts then due it pursuant to the provisions of
Section 8.06, execute and deliver an instrument transferring to such successor trustee all the
rights and powers of the trustee so ceasing to act. Upon request of any such successor trustee,
the Company shall execute any and all instruments in writing for more fully and certainly vesting
in and confirming to such successor trustee all such rights and powers. Any trustee ceasing to act
shall, nevertheless, retain a lien upon all property and funds held or collected by such trustee as
such, except for funds held in trust for the benefit of holders of particular Notes, to secure any
amounts then due it pursuant to the provisions of Section 8.06.

     No successor trustee shall accept appointment as provided in this Section 8.11 unless at the
time of such acceptance such successor trustee shall be qualified under the provisions of Section
8.08 and be eligible under the provisions of Section 8.09.

     Upon acceptance of appointment by a successor trustee as provided in this Section 8.11, each
of the Company and the successor trustee, at the written direction and at the expense of the
Company shall mail or cause to be mailed notice of the succession of such trustee hereunder to the
Noteholders at their addresses as they shall appear on the Note register. If the Company fails to
mail such notice within ten (10) days after acceptance of appointment by the successor trustee, the
successor trustee shall cause such notice to be mailed at the expense of the Company.

     Section 8.12. Succession by Merger, Etc. Any corporation or other entity into which the
Trustee may be merged or converted or with which it may be consolidated, or any corporation
resulting from any merger, conversion or

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consolidation to which the Trustee shall be a party, or any corporation or other entity
succeeding to all or substantially all of the corporate trust business of the Trustee (including
the administration of this Indenture), shall be the successor to the Trustee hereunder without the
execution or filing of any paper or any further act on the part of any of the parties hereto,
provided that in the case of any corporation succeeding to all or substantially all of the
corporate trust business of the Trustee such corporation shall be qualified under the provisions of
Section 8.08 and eligible under the provisions of Section 8.09.

     In case at the time such successor to the Trustee shall succeed to the trusts created by this
Indenture, any of the Notes shall have been authenticated but not delivered, any such successor to
the Trustee may adopt the certificate of authentication of any predecessor trustee or
authenticating agent appointed by such predecessor trustee, and deliver such Notes so
authenticated; and in case at that time any of the Notes shall not have been authenticated, any
successor to the Trustee or an authenticating agent appointed by such successor trustee may
authenticate such Notes either in the name of any predecessor trustee hereunder or in the name of
the successor trustee; and in all such cases such certificates shall have the full force which it
is anywhere in the Notes or in this Indenture provided that the certificate of the Trustee shall
have; provided, however, that the right to adopt the certificate of authentication of any
predecessor Trustee or to authenticate Notes in the name of any predecessor Trustee shall apply
only to its successor or successors by merger, conversion or consolidation.

     Section 8.13. Limitation on Rights of Trustee as Creditor. If and when the Trustee shall be
or become a creditor of the Company (or any other obligor upon the Notes), after qualification
under the Trust Indenture Act, the Trustee shall be subject to the provisions of the Trust
Indenture Act regarding the collection of the claims against the Company (or any such other
obligor).

     Section 8.14. Trustee’s Application for Instructions from the Company. Any application by
the Trustee for written instructions from the Company (other than with regard to any action
proposed to be taken or omitted to be taken by the Trustee that affects the rights of the holders
of the Notes under this Indenture, including, without limitation, under Article 4 hereof) may, at
the option of the Trustee, set forth in writing any action proposed to be taken or omitted by the
Trustee under this Indenture and the date on and/or after which such action shall be taken or such
omission shall be effective. The Trustee shall not be liable for any action taken by, or omission
of, the Trustee in accordance with a proposal included in such application on or after the date
specified in such application (which date shall not be less than three (3) Business Days after the
date any officer of the Company actually receives such application, unless any such officer shall
have consented in writing to any earlier date), unless, prior to taking any such action (or the
effective date in the case of any omission), the Trustee shall

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have received written instructions in response to such application specifying the action to be
taken or omitted.

ARTICLE 9

Concerning the Noteholders

     Section 9.01. Action by Noteholders. Whenever in this Indenture it is provided that the
holders of a specified percentage in aggregate principal amount of the Notes may take any action
(including the making of any demand or request, the giving of any notice, consent or waiver or the
taking of any other action), the fact that at the time of taking any such action, the holders of
such specified percentage have joined therein may be evidenced (a) by any instrument or any number
of instruments of similar tenor executed by Noteholders in person or by agent or proxy appointed in
writing, or (b) by the record of the Noteholders voting in favor thereof at any meeting of
Noteholder duly called and held in accordance with the provisions of Article 10, or (c) by a
combination of such instrument or instruments and any such record of such a meeting of Noteholders.
Whenever the Company or the Trustee solicits the taking of any action by the holders of the Notes,
the Company or the Trustee may fix, but shall not be required to, in advance of such solicitation,
a date as the record date for determining Noteholders entitled to take such action. The record
date if one is selected shall be not more than fifteen (15) days prior to the date of commencement
of solicitation of such action.

     Section 9.02. Proof of Execution by Noteholders. Subject to the provisions of Section 8.01,
Section 8.02 and Section 10.05, proof of the execution of any instrument by a Noteholder or his
agent or proxy shall be sufficient if made in accordance with such reasonable rules and regulations
as may be prescribed by the Trustee or in such manner as shall be satisfactory to the Trustee. The
holding of Notes shall be proved by the Note register or by a certificate of the Note registrar.
The record of any Noteholders’ meeting shall be proved in the manner provided in Section 10.06.

     Section 9.03. Who Are Deemed Absolute Owners. The Company, the Trustee, any authenticating
agent, any Paying Agent, any Conversion Agent and any Note registrar may deem the person in whose
name such Note shall be registered upon the Note register to be, and may treat him as, the absolute
owner of such Note (whether or not such Note shall be overdue and notwithstanding any notation of
ownership or other writing thereon made by any Person other than the Company or any Note registrar)
for the purpose of receiving payment of or on account of the principal of and accrued and unpaid
interest on such Note, for conversion of such Note and for all other purposes; and neither the
Company nor the Trustee nor any Paying Agent nor any Conversion Agent nor any Note

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registrar shall be affected by any notice to the contrary. All such payments so made to any
holder for the time being, or upon his order, shall be valid, and, to the extent of the sum or sums
so paid, effectual to satisfy and discharge the liability for monies payable upon any such Note.
Notwithstanding anything to the contrary in this Indenture or the Notes following an event which,
after notice or passage of time or both, would become a Default, any holder of a beneficial
interest in a Global Note may directly enforce against the Company, without the consent,
solicitation, proxy, authorization or any other action of the Depositary or any other person, such
holder’s right to exchange such beneficial interest for a Note in certificated form in accordance
with the provisions of this Indenture.

     Section 9.04. Company-Owned Notes Disregarded. In determining whether the holders of the
requisite aggregate principal amount of Notes have concurred in any direction, consent, waiver or
other action under this Indenture, Notes that are owned by the Company or any other obligor on the
Notes or by any person directly or indirectly controlling or controlled by or under direct or
indirect common control with the Company or any other obligor on such Notes shall be disregarded
and deemed not to be outstanding for the purpose of any such determination; provided that for the
purposes of determining whether the Trustee shall be protected in relying on any such direction,
consent, waiver or other action only Notes that a Responsible Officer knows are so owned shall be
so disregarded. Notes so owned that have been pledged in good faith may be regarded as outstanding
for the purposes of this Section 9.04 if the pledgee shall establish to the satisfaction of the
Trustee the pledgee’s right to vote such Notes and that the pledgee is not the Company, any other
obligor on the Notes or a person directly or indirectly controlling or controlled by or under
direct or indirect common control with the Company or any such other obligor. In the case of a
dispute as to such right, any decision by the Trustee taken upon the advice of counsel shall be
full protection to the Trustee. Upon request of the Trustee, the Company shall furnish to the
Trustee promptly an Officers’ Certificate listing and identifying all Notes, if any, known by the
Company to be owned or held by or for the account of any of the above described persons; and,
subject to Section 8.01, the Trustee shall be entitled to accept such Officers’ Certificate as
conclusive evidence of the facts therein set forth and of the fact that all Notes not listed
therein are outstanding for the purpose of any such determination.

     Section 9.05. Revocation of Consents; Future Holders Bound. At any time prior to (but not
after) the evidencing to the Trustee, as provided in Section 9.01, of the taking of any action by
the holders of the percentage in aggregate principal amount of the Notes specified in this
Indenture in connection with such action, any holder of a Note that is shown by the evidence to be
included in the Notes the holders of which have consented to such action may, by filing written
notice with the Trustee at its Corporate Trust Office and upon proof of holding as provided in
Section 9.02, revoke such action so far as concerns such Note.

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Except as aforesaid, any such action taken by the holder of any Note shall be conclusive and
binding upon such holder and upon all future holders and owners of such Note and of any Notes
issued in exchange or substitution therefor, irrespective of whether any notation in regard thereto
is made upon such Note or any Note issued in exchange or substitution therefor.

ARTICLE 10

Noteholders’ Meetings

     Section 10.01. Purpose of Meetings. A meeting of Noteholders may be called at any time and
from time to time pursuant to the provisions of this Article 10 for any of the following purposes:

     (a) to give any notice to the Company or to the Trustee or to give any directions to
the Trustee permitted under this Indenture, or to consent to the waiving of any default or
Event of Default hereunder and its consequences, or to take any other action authorized to
be taken by Noteholders pursuant to any of the provisions of Article 7;

     (b) to remove the Trustee and nominate a successor trustee pursuant to the provisions
of Article 8;

     (c) to consent to the execution of an indenture or indentures supplemental hereto
pursuant to the provisions of Section 11.02; or

     (d) to take any other action authorized to be taken by or on behalf of the holders of
any specified aggregate principal amount of the Notes under any other provision of this
Indenture or under applicable law.

     Section 10.02. Call of Meetings by Trustee. The Trustee may at any time call a meeting of
Noteholders to take any action specified in Section 10.01, to be held at such time and at such
place as the Trustee shall determine. Notice of every meeting of the Noteholders, setting forth
the time and the place of such meeting and in general terms the action proposed to be taken at such
meeting and the establishment of any record date pursuant to Section 9.01, shall be mailed to
holders of such Notes at their addresses as they shall appear on the Note register. Such notice
shall also be mailed to the Company. Such notices shall be mailed not less than twenty (20) nor
more than ninety (90) days prior to the date fixed for the meeting.

     Any meeting of Noteholders shall be valid without notice if the holders of all Notes then
outstanding are present in person or by proxy or if notice is waived before or after the meeting by
the holders of all Notes outstanding, and if the

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Company and the Trustee are either present by duly authorized representatives or have, before
or after the meeting, waived notice.

     Section 10.03. Call of Meetings by Company or Noteholders. In case at any time the Company,
pursuant to a resolution of its Board of Directors, or the holders of at least 10% in aggregate
principal amount of the Notes then outstanding, shall have requested the Trustee to call a meeting
of Noteholders, by written request setting forth in reasonable detail the action proposed to be
taken at the meeting, and the Trustee shall not have mailed the notice of such meeting within
twenty (20) days after receipt of such request, then the Company or such Noteholders may determine
the time and the place for such meeting and may call such meeting to take any action authorized in
Section 10.01, by mailing notice thereof as provided in Section 10.02.

     Section 10.04. Qualifications for Voting. To be entitled to vote at any meeting of
Noteholders a person shall (a) be a holder of one or more Notes on the record date pertaining to
such meeting or (b) be a person appointed by an instrument in writing as proxy by a holder of one
or more Notes. The only persons who shall be entitled to be present or to speak at any meeting of
Noteholders shall be the persons entitled to vote at such meeting and their counsel and any
representatives of the Trustee and its counsel and any representatives of the Company and its
counsel.

     Section 10.05. Regulations. Notwithstanding any other provisions of this Indenture, the
Trustee may make such reasonable regulations as it may deem advisable for any meeting of
Noteholders, in regard to proof of the holding of Notes and of the appointment of proxies, and in
regard to the appointment and duties of inspectors of votes, the submission and examination of
proxies, certificates and other evidence of the right to vote, and such other matters concerning
the conduct of the meeting as it shall think fit.

     The Trustee shall, by an instrument in writing, appoint a temporary chairman of the meeting,
unless the meeting shall have been called by the Company or by Noteholders as provided in Section
10.03, in which case the Company or the Noteholders calling the meeting, as the case may be, shall
in like manner appoint a temporary chairman. A permanent chairman and a permanent secretary of the
meeting shall be elected by vote of the holders of a majority in principal amount of the Notes
represented at the meeting and entitled to vote at the meeting.

     Subject to the provisions of Section 9.04, at any meeting of Noteholders each Noteholder or
proxyholder shall be entitled to one vote for each $1,000 principal amount of Notes held or
represented by him; provided, however, that no vote shall be cast or counted at any meeting in
respect of any Note challenged as

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not outstanding and ruled by the chairman of the meeting to be not outstanding. The chairman
of the meeting shall have no right to vote other than by virtue of Notes held by him or instruments
in writing as aforesaid duly designating him as the proxy to vote on behalf of other Noteholders.
Any meeting of Noteholders duly called pursuant to the provisions of Section 10.02 or Section 10.03
may be adjourned from time to time by the holders of a majority of the aggregate principal amount
of Notes represented at the meeting, whether or not constituting a quorum, and the meeting may be
held as so adjourned without further notice.

     Section 10.06. Voting. The vote upon any resolution submitted to any meeting of Noteholders
shall be by written ballot on which shall be subscribed the signatures of the Noteholders or of
their representatives by proxy and the principal amount of the Notes held or represented by them.
The permanent chairman of the meeting shall appoint two inspectors of votes who shall count all
votes cast at the meeting for or against any resolution and who shall make and file with the
secretary of the meeting their verified written reports in duplicate of all votes cast at the
meeting. A record in duplicate of the proceedings of each meeting of Noteholders shall be prepared
by the secretary of the meeting and there shall be attached to said record the original reports of
the inspectors of votes on any vote by ballot taken thereat and affidavits by one or more persons
having knowledge of the facts setting forth a copy of the notice of the meeting and showing that
said notice was mailed as provided in Section 10.02. The record shall show the principal amount of
the Notes voting in favor of or against any resolution. The record shall be signed and verified by
the affidavits of the permanent chairman and secretary of the meeting and one of the duplicates
shall be delivered to the Company and the other to the Trustee to be preserved by the Trustee, the
latter to have attached thereto the ballots voted at the meeting.

     Any record so signed and verified shall be conclusive evidence of the matters therein stated.

     Section 10.07. No Delay of Rights by Meeting. Nothing contained in this Article 10 shall be
deemed or construed to authorize or permit, by reason of any call of a meeting of Noteholders or
any rights expressly or impliedly conferred hereunder to make such call, any hindrance or delay in
the exercise of any right or rights conferred upon or reserved to the Trustee or to the Noteholders
under any of the provisions of this Indenture or of the Notes.

ARTICLE 11

Supplemental Indentures

     Section 11.01. Supplemental Indentures Without Consent of Noteholders. The Company, when
authorized by the resolutions of the Board of Directors, and

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the Trustee, at the Company’s expense, may from time to time and at any time enter into an
indenture or indentures supplemental hereto for one or more of the following purposes:

(a) to make provision with respect to the conversion rights of the Noteholders
pursuant to the requirements of Section 15.06;

(b) to convey, transfer, assign, mortgage or pledge to the Trustee as security for the
Notes, any property or assets;

(c) to evidence the succession of another corporation to the Company, or successive
successions, and the assumption by the successor corporation of the covenants, agreements
and obligations of the Company pursuant to Article 12;

(d) to add to the covenants of the Company such further covenants, restrictions or
conditions for the benefit of the Noteholders, or surrender any right or power conferred
upon the Company, and to make the occurrence, or the occurrence and continuance, of a
default in any such additional covenants, restrictions or conditions a default or an Event
of Default permitting the enforcement of all or any of the several remedies provided in
this Indenture as herein set forth; provided, however, that in respect of any such
additional covenant, restriction or condition such supplemental indenture may provide for a
particular period of grace after default (which period may be shorter or longer than that
allowed in the case of other defaults) or may provide for an immediate enforcement upon
such default or may limit the remedies available to the Trustee upon such default;

(e) to increase, from time to time, the Conversion Rate in the manner described under
and Section 15.04(h);

(f) to add or modify any provision of this Indenture (not expressly addressed in this
Section 11.01) which the Company and the Trustee may deem necessary or desirable and which
will not adversely affect the interests of holders of the Notes in any material respect;

(g) to cure any ambiguity or to correct or supplement any provision contained herein
or in any supplemental indenture which may be defective or inconsistent with any other
provision contained herein or in any supplemental indenture; provided that such
modification or amendment does not, in the good faith opinion of the Company’s Board of
Directors

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and the Trustee, adversely affect the interests of the holders of Notes in any
material respect; provided further that any amendment made solely to conform the provisions
of the Indenture to the “Description of the Notes” section of the Prospectus, dated May [    ], 2007 relating to the initial offering of the Notes will not be deemed to adversely
affect the interests of the holders of the Notes; or

(h) to modify, eliminate or add to the provisions of this Indenture to such extent as
shall be necessary to effect the qualifications of this Indenture under the Trust
Indenture Act, or complying with the requirements of the Commissioner with respect
thereto;

     Upon the written request of the Company, accompanied by a Board Resolution authorizing the
execution of such supplemental indenture, the Trustee is hereby authorized to join with the Company
in the execution of any such supplemental indenture, to make any further appropriate agreements and
stipulations which may be therein contained and to accept the conveyance, transfer and assignment
of any property thereunder, but the Trustee shall not be obligated to, but may in its discretion,
enter into any supplemental indenture which affects the Trustee’s own rights, duties or immunities
under this Indenture or otherwise.

     Any supplemental indenture authorized by the provisions of this Section 11.01 may be executed
by the Company and the Trustee without the consent of the holders of any of the Notes at the time
outstanding, notwithstanding any of the provisions of Section 11.02.

     Section 11.02. Supplemental Indentures With Consent of Noteholders. With the consent
(evidenced as provided in Article 9) of the holders of not less than a majority in aggregate
principal amount of the Notes at the time outstanding (determined in accordance with Article 9),
the Company, when authorized by the resolutions of the Board of Directors, and the Trustee may from
time to time and at any time enter into an indenture or indentures supplemental hereto for the
purpose of adding any provisions to or changing in any manner or eliminating any of the provisions
of this Indenture or any supplemental indenture or of modifying in any manner the rights of the
holders of the Notes, provided, however, that no such supplemental indenture shall:

     (a) change the maturity date of the principal of, or any date any installment of interest is
due on, any Note;

     (b) reduce the principal amount or any amount payable on repurchase or conversion of any Note;

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     (c) reduce the interest rate or amount of interest on any Note;

     (d) change the currency of payment of principal of or interest on any Notes;

     (e) impair the right to institute suit for the enforcement of any payment on or with respect
to or the conversion of any Note;

     (f) except as otherwise permitted or contemplated by provisions of the Indenture, impair or
adversely affect the conversion rights of holders of the Notes, including any change to the payment
of the Principal Return or delivery of the Net Shares;

     (g) materially adversely affect any repurchase option (including any repurchase on any
Fundamental Change Repurchase Date) in a manner materially adverse to the holders of the Notes;

     (h) modify the subordination provisions of the Indenture in a manner that is materially
adverse to the holder of the Notes;

     (i) reduce the percentage in aggregate principal amount of Notes outstanding necessary to
modify or amend the Indenture or to waive any past default;

     (j) reduce the percentage in aggregate principal amount of Notes required for any waiver under
the Indenture,

in each case without the consent or affirmative vote of holder of each outstanding Note affected.

     Upon the written request of the Company, accompanied by a copy of the Board Resolutions
authorizing the execution of any such supplemental indenture, and upon the filing with the Trustee
of evidence of the consent of Noteholders as aforesaid, the Trustee shall join with the Company in
the execution of such supplemental indenture unless such supplemental indenture affects the
Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the
Trustee may in its discretion, but shall not be obligated to, enter into such supplemental
indenture.

     It shall not be necessary for the consent of the Noteholders under this Section 11.02 to
approve the particular form of any proposed supplemental indenture, but it shall be sufficient if
such consent shall approve the substance thereof.

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     Section 11.03. Effect of Supplemental Indentures. Any supplemental indenture executed
pursuant to the provisions of this Article 11 shall comply with the Trust Indenture Act, as then in
effect, provided that this Section 11.03 shall not require such supplemental indenture or the
Trustee to be qualified under the Trust Indenture Act prior to the time such qualification is in
fact required under the terms of the Trust Indenture Act or the Indenture has been qualified under
the Trust Indenture Act, nor shall it constitute any admission or acknowledgment by any party to
such supplemental indenture that any such qualification is required prior to the time such
qualification is in fact required under the terms of the Trust Indenture Act or the Indenture has
been qualified under the Trust Indenture Act. Upon the execution of any supplemental indenture
pursuant to the provisions of this Article 11, this Indenture shall be and be deemed to be modified
and amended in accordance therewith and the respective rights, limitation of rights, obligations,
duties and immunities under this Indenture of the Trustee, the Company and the Noteholders shall
thereafter be determined, exercised and enforced hereunder subject in all respects to such
modifications and amendments and all the terms and conditions of any such supplemental indenture
shall be and be deemed to be part of the terms and conditions of this Indenture for any and all
purposes.

     Section 11.04. Notation on Notes. Notes authenticated and delivered after the execution of
any supplemental indenture pursuant to the provisions of this Article 11 may bear a notation in
form approved by the Trustee as to any matter provided for in such supplemental indenture. If the
Company or the Trustee shall so determine, new Notes so modified as to conform, in the opinion of
the Trustee and the Board of Directors, to any modification of this Indenture contained in any such
supplemental indenture may, at the Company’s expense, be prepared and executed by the Company,
authenticated by the Trustee (or an authenticating agent duly appointed by the Trustee pursuant to
Section 17.11) and delivered in exchange for the Notes then outstanding, upon surrender of such
Notes then outstanding.

     Section 11.05. Evidence of Compliance of Supplemental Indenture to be Furnished Trustee. In
addition to the documents required by Section 17.05, upon its request, the Trustee shall receive an
Officers’ Certificate and an Opinion of Counsel as conclusive evidence that any supplemental
indenture executed pursuant hereto complies with the requirements of this Article 11.

ARTICLE 12

Consolidation, Merger, Sale, Conveyance and Lease

     Section 12.01. Company May Consolidate, Etc. on Certain Terms.

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     Subject to the provisions of Section 12.02, the Company shall not, without the consent of
holders of the Notes, consolidate with, merge with or into or sell, lease or otherwise transfer in
one transaction or a series of related transactions the consolidated assets of the Company and its
subsidiaries substantially as an entirety to any Person, unless:

     (a) the Company is the surviving Person or the Person formed by such consolidation or into
which the Company is merged or the Person that acquires by conveyance or transfer, or that leases
the assets and properties of the Company substantially as an entirety shall be a corporation,
limited liability company, partnership or trust organized under the laws of the United States or
any of its political subdivisions organized under the laws of the United States or any of its
political subdivisions;

     (b) such Person or surviving entity assumes of the Company’s obligations under the Indenture
and the Notes in a supplemental indenture hereto in form satisfactory to the Trustee, executed and
delivered to the Trustee by such Person;

     (c) if, as a result of such transactions, the Notes become convertible into common stock,
securities or other property issued by any Person (other than the Person assuming the obligations
under the Indenture pursuant to clause (b) above) pursuant to Section 15.06, such Person shall
fully and unconditionally guarantees all the obligations of the Company or such successor under the
Notes and the Indenture;

     (d) at the time of such transaction or series of transactions, no Event of Default, and no
event which, after notice or lapse of time, would become an Event of Default, shall have happened
and be continuing; and

     (e) an Officers’ Certificate and an Opinion of Counsel, each stated that the transaction or
series of transactions comply with the provisions of the Indenture, have been delivered to the
Trustee.

     Section 12.02. Successor Corporation to be Substituted. In case of any such consolidation,
merger, sale, conveyance or lease and upon the assumption by the successor Person, by supplemental
indenture, executed and delivered to the Trustee and satisfactory in form to the Trustee, of the
due and punctual payment of the principal of and accrued and unpaid interest on all of the Notes,
the due and punctual conversion of the Notes and the due and punctual performance of all of the
covenants and conditions of this Indenture to be performed by the Company, such successor Person
shall succeed to and be substituted for the Company and

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the Company shall be released from those obligations, with the same effect as if it had been
named herein as the party of the first part. Such successor Person thereupon may cause to be
signed, and may issue either in its own name or in the name of LifePoint Hospitals, Inc. any or all
of the Notes issuable hereunder which theretofore shall not have been signed by the Company and
delivered to the Trustee; and, upon the order of such successor corporation instead of the Company
and subject to all the terms, conditions and limitations in this Indenture prescribed, the Trustee
shall authenticate and shall deliver, or cause to be authenticated and delivered, any Notes which
previously shall have been signed and delivered by the officers of the Company to the Trustee for
authentication, and any Notes which such successor corporation thereafter shall cause to be signed
and delivered to the Trustee for that purpose. All the Notes so issued shall in all respects have
the same legal rank and benefit under this Indenture as the Notes theretofore or thereafter issued
in accordance with the terms of this Indenture as though all of such Notes had been issued at the
date of the execution hereof. In the event of any such consolidation, merger, sale, conveyance or
lease, the person named as the “Company” in the first paragraph of this Indenture or any successor
which shall thereafter have become such in the manner prescribed in this Article 12 may be
dissolved, wound up and liquidated at any time thereafter and such person shall be released from
its liabilities as obligor and maker of the Notes and from its obligations under this Indenture.

     In case of any such consolidation, merger, sale, conveyance or lease, such changes in
phraseology and form (but not in substance) may be made in the Notes thereafter to be issued as may
be appropriate.

     Section 12.03. Opinion of Counsel to be Given Trustee. The Trustee shall receive an
Officers’ Certificate and an Opinion of Counsel as conclusive evidence that any such consolidation,
merger, sale, conveyance or lease and any such assumption complies with the provisions of this
Article 12.

ARTICLE 13

Satisfaction and Discharge of Indenture

     Section 13.01. Discharge of Indenture. When (a) the Company shall deliver to the Trustee for
cancellation all Notes theretofore authenticated (other than any Notes that have been destroyed,
lost or stolen and in lieu of or in substitution for which other Notes shall have been
authenticated and delivered) and not theretofore canceled, or (b) all the Notes not theretofore
canceled or delivered to the Trustee for cancellation shall have become due and payable, and the
Company shall deposit with the Trustee, in trust, funds sufficient to pay at maturity all of the
Notes (other than any Notes that shall have been mutilated, destroyed, lost or stolen and in lieu
of or in substitution for which other Notes

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shall have been authenticated and delivered) not theretofore canceled or delivered to the
Trustee for cancellation, including principal and accrued and unpaid interest due or to become due
to such date of maturity, accompanied by a verification report, as to the sufficiency of the
deposited amount, from an independent certified public accountant or other financial professional,
and if in either case the Company shall also pay or cause to be paid all other sums payable
hereunder by the Company, then this Indenture shall cease to be of further effect except as to (i)
the right to receive payments of principal of and accrued and unpaid interest on the Notes and the
other rights, duties and obligations of Noteholders, as beneficiaries hereof with respect to the
amounts, if any, so deposited with the Trustee, (ii) the rights, obligations and immunities of the
Trustee hereunder and (iii) the obligations of the Company under Section 8.06, and the Trustee, on
written demand of the Company accompanied by an Officers’ Certificate and an Opinion of Counsel as
required by Section 17.05 and at the cost and expense of the Company, shall execute proper
instruments acknowledging satisfaction of and discharging this Indenture; the Company, however,
hereby agrees to reimburse the Trustee for any costs or expenses thereafter reasonably and properly
incurred by the Trustee and to compensate the Trustee for any services thereafter reasonably and
properly rendered by the Trustee in connection with this Indenture or the Notes.

     Section 13.02. Deposited Monies to be Held in Trust by Trustee. Subject to Section 13.04,
all monies deposited with the Trustee pursuant to Section 13.01 shall be held in trust and applied
by it to the payment, either directly or through any Paying Agent (including the Company if acting
as its own Paying Agent), to the holders of the particular Notes for the payment of which such
monies have been deposited with the Trustee, of all sums due and to become due thereon for
principal and accrued and unpaid interest.

     Section 13.03. Paying Agent to Repay Monies Held. Upon the satisfaction and discharge of
this Indenture, all monies then held by any Paying Agent of the Notes (other than the Trustee)
shall, upon written request of the Company, be repaid to it or paid to the Trustee, and thereupon
such Paying Agent shall be released from all further liability with respect to such monies.

     Section 13.04. Return of Unclaimed Monies. Subject to the requirements of applicable law,
any monies deposited with or paid to the Trustee for payment of the principal of, or accrued and
unpaid interest on Notes (including any Principal Return or Fundamental Change Repurchase Price)
and not applied but remaining unclaimed by the Noteholders for two years after the date upon which
the principal of, or accrued and unpaid interest on such Notes, as the case may be, shall have
become due and payable, shall be repaid to the Company by the Trustee on written request and all
liability of the Trustee shall thereupon cease with respect to such monies; and the holder of any
of the Notes shall thereafter

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look only to the Company for any payment which such holder may be entitled to collect unless
an applicable abandoned property law designates another person. The Trustee shall, promptly after
such payment of the principal of, or accrued and unpaid interest on Notes (including any Principal
Return or Fundamental Change Repurchase Price), as described in this Section 13.04 and upon written
request of the Company, return to the Company any funds in excess of the amount required for such
payment.

     Section 13.05. Reinstatement. If (i) the Trustee or the Paying Agent is unable to apply any
money in accordance with Section 13.02 by reason of any order or judgment of any court or
governmental authority enjoining, restraining or otherwise prohibiting such application and (ii)
the holders of at least a majority in principal amount of the then outstanding Notes so request by
written notice to the Trustee, the Company’s obligations under this Indenture shall be revived and
reinstated as though no deposit had occurred pursuant to Section 13.01 until such time as the
Trustee or the Paying Agent is permitted to apply all such money in accordance with Section 13.02;
provided, however, that if the Company makes any payment of interest on or principal of any Note
following the reinstatement of its obligations, the Company shall be subrogated to the rights of
the Noteholders to receive such payment from the money held by the Trustee or Paying Agent.

ARTICLE 14

Immunity of Incorporators, Stockholders, Officers and Directors

     Section 14.01. Indenture and Notes Solely Corporate Obligations. No recourse for the payment
of the principal of, or accrued and unpaid interest on any Note, or for any claim based thereon or
otherwise in respect thereof, and no recourse under or upon any obligation, covenant or agreement
of the Company in this Indenture or in any supplemental indenture or in any Note, or because of the
creation of any indebtedness represented thereby, shall be had against any incorporator,
stockholder, employee, agent, officer or director or Subsidiary, as such, past, present or future,
of the Company or of any successor corporation, either directly or through the Company or any
successor corporation, whether by virtue of any constitution, statute or rule of law, or by the
enforcement of any assessment or penalty or otherwise; it being expressly understood that all such
liability is hereby expressly waived and released as a condition of, and as a consideration for,
the execution of this Indenture and the issue of the Notes.

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ARTICLE 15

Conversion of Notes

     Section 15.01. Conversion Privilege.

     (a) At any time prior to March 15, 2014, subject to the conditions described below, and upon
compliance with the provisions of this Article 15, a Noteholder shall have the right, at such
holder’s option, to convert all or any portion (if the portion to be converted is $1,000 principal
amount or an integral multiple thereof) of such Note into cash and fully paid shares of Common
Stock, if any, based on a rate (the “Conversion Rate”) of [     ] shares of Common Stock (subject to
adjustment as provided in this Indenture) per $1,000 principal amount Note (the “Conversion
Obligation”) under the circumstances set forth below. In addition, on or after March 15, 2014, a
Noteholder shall have the right, at such holder’s option, to convert all or any portion (if the
portion to be converted is $1,000 principal amount or an integral multiple thereof) of such Note,
at any time prior to the close of business on the Scheduled Trading Day immediately preceding the
maturity date, into cash and fully paid shares of Common Stock, if any, regardless of the
conditions described below.

     (i) Prior to March 15, 2014, the Notes shall be convertible during any fiscal quarter
of the Company (a “Fiscal Quarter”)(and only during such Fiscal Quarter) after the quarter
ending June 30, 2007, if the Closing Sale Price of the Common Stock for each of at least
20 Trading Days in the 30 consecutive Trading Day period ending on the last Trading Day of
the immediately preceding Fiscal Quarter was greater than or equal to 130% of the
Conversion Price in effect on such 30th Trading Day.

     (ii) Prior to March 15, 2014, the Notes shall be convertible during the five Business
Day period immediately after any five consecutive Trading Day period (the “Measurement
Period”) in which the Trading Price per $1,000 principal amount of Notes for each day of
such Measurement Period was less than 96% of the product of the Closing Sale Price on such
date and the Conversion Rate on such date, all as determined by the Trustee, as provided
below. The Trustee shall have no obligation to determine the Trading Price of
the Notes unless requested by the Company to do so in writing, and the Company shall have
no obligation to make such request unless a Noteholder of at least $1,000,000 aggregate
principal amount of Notes provides the Company with reasonable evidence that the Trading
Price of the Notes would be less than 96% of the product of (a) the then-applicable
Conversion Rate of the Notes and (b) the Closing Sale Price at such time, at which time
the Company shall instruct the Trustee to determine the Trading Price of the Notes
beginning on the next Trading Day and on each successive Trading

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Day until the Trading Price per Note is greater than or equal to 96% of the product
of (a) the then-applicable Conversion Rate of the Notes and (b) the Closing Sale Price on
such date.

     (iii) The Notes shall be convertible as provided in Section 15.01(b), Section
15.01(c), and Section 15.01(d).

     (b) In the event that the Company elects to:

     (i) distribute to all holders of Common Stock rights entitling them to purchase, for
a period expiring within 60 days after the record date for such distribution, Common Stock
at a price less than the Closing Sale Price of the Common Stock for the Trading Day
immediately preceding the announcement of such distribution; or

     (ii) distribute to all holders of Common Stock, assets or debt securities of the
Company or rights to purchase the Company’s securities, which distribution has a per share
value (as determined by the Board of Directors) exceeding 5% of the Closing Sale Price of
the Common Stock on the Trading Day immediately preceding the date of declaration of such
distribution,

     then, in each case, the Notes may be surrendered for conversion at any time on and after the date
that the Company gives notice to the holders of such right, which shall be not less than 20 days
prior to the Ex-Dividend Date for such distribution, until the earlier of the close of business on
the Business Day immediately preceding the Ex-Dividend Date or the date the Company announces that
such distribution will not take place. Notwithstanding the foregoing, the Notes will not be
convertible pursuant to clauses (i) or (ii) above if the Company provides that Noteholders shall
participate in such distribution without conversion.

     (c) In the event that the Company is a party to a transaction or event (including, without
limitation, any consolidation, merger or binding share exchange) pursuant to which all shares of
the Common Stock would be converted into or exchanged for cash, securities or other property, a
Noteholder may surrender Notes for conversion at any time from and after the date that is 20 days
prior to the anticipated effective date of the transaction until 20 days after the actual
effective date of such transaction (or, if such transaction or event also constitutes a Fundamental
Change, until the Fundamental Change Repurchase Date), unless such transaction constitutes a
Make-Whole Change of Control (in which case the Notes will instead be convertible in accordance
with Section 15.01(d) below). The Company shall notify Noteholders and the Trustee (whether or not
such transaction also constitutes a Make-Whole Change of

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Control) at the same time the Company publicly announces such transaction (but in no event
less than 20 days prior to the effective date of such transaction). Following the effective date
of such transaction, the right to convert the Notes at the Conversion Rate, and the settlement
thereof, shall be modified as set forth under Section 15.06.

(d) (i) In the event that a Make-Whole Change of Control occurs on or prior to the
maturity date, a Noteholder may surrender Notes for conversion at any time from and after
the date that is 25 Scheduled Trading Days before the anticipated effective date of such
Make-Whole Change of Control until the Fundamental Change Repurchase Date. The Company
shall give notice to all record Noteholders and the Trustee at least 25 Scheduled Trading
Days prior to the anticipated effective date of the Make-Whole Change of Control.

     (ii) If a Noteholder elects to convert Notes (regardless of whether the other
conditions to conversion have been satisfied) at any time from and after the date that is
25 Scheduled Trading Days prior to the anticipated effective date of the transaction until
20 days after the actual effective date of such Make-Whole Change of Control (the
“Effective Date”), the Conversion Rate applicable to each, $1,000 principal amount of
converted Notes shall be increased by an additional number of shares of Common Stock (the
“Additional Shares”) as described below.

     The number of Additional Shares to be added to each $1,000 principal amount of Notes converted
shall be determined by reference to the table attached as Schedule A hereto, based on the related
Conversion Date of such Notes of and the Applicable Price; provided that if the actual Applicable
Price is between two Applicable Price amounts in the table or the Conversion Date is between two
Conversion Dates in the table, the number of Additional Shares shall be determined by a
straight-line interpolation between the number of Additional Shares set forth for the next higher
and next lower Stock Price amounts and the two nearest Conversion Dates, as applicable, based on a
365-day or 366-day year; provided further that if the Applicable Price is equal to or above $[     ] per share of Common Stock (subject to adjustment in the same manner as set forth in Section
15.04), no Additional Shares will be added to the Conversion Rate; and provided that if the Stock
Price is equal to or below $[  ] per share (subject to adjustment in the same manner as set
forth in Section 15.04), no Additional Shares will be added to the Conversion Rate. In no event
will Additional Shares be added to the Conversion Rate to cause the Conversion Rate to exceed [  ] per $1,000 principal amount of Notes (subject to adjustment in the same manner as set forth
in Section 15.04).

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     The Applicable Prices set forth in the first row of the table in Schedule A hereto shall be
adjusted as of any date on which the Conversion Rate of the Notes is adjusted. The adjusted
Applicable Prices shall equal the Applicable Prices in effect immediately prior to such adjustment,
multiplied by a fraction, the numerator of which is the Conversion Rate in effect immediately prior
to the adjustment giving rise to the Applicable Price adjustment and the denominator of which is
the Conversion Rate as so adjusted. The number of Additional Shares within the table shall be
adjusted in the same manner as the Conversion Rate as set forth in Section 15.04 (other than by
operation of an adjustment to the Conversion Rate by adding Additional Shares).

     Settlement of Notes tendered for conversion in connection with a Make-Whole Change of Control
as provided in this subsection, shall be as follows:

     (i) if the last day of the Conversion Period related to such Notes (determined as set
forth under Section 15.02(b)) is prior to the third Scheduled Trading Day immediately
preceding the anticipated Effective Date, the Company shall pay the Principal Return in
cash (together with cash in lieu of fractional shares) and deliver the Net Shares, if any,
all determined in accordance with Section 15.02(b) below, on the third Business Day
immediately following the last day of the Conversion Period related to such Notes; provided
that the calculation of such Principal Return and Net Shares shall not include any
Additional Shares to be added to the Conversion Rate as set forth in this subsection. As
soon as practicable following the Effective Date, the Company shall deliver the increase in
such amount of cash and, if applicable, the Common Stock or Reference Property deliverable
in lieu of the Common Stock, if any, as the case may be, for such Notes as if the
Conversion Rate had been increased by the number of Additional Shares to be added to the
Conversion Rate pursuant to this subsection. If such increased amount results in an
increase to the Principal Return (determined in accordance with Section 15.02(b) below, but
based on such increased Conversion Rate) as compared to the Principal Return calculated
without such Additional Shares, the Company shall pay, promptly following the Effective
Date, such increase to the Principal Return in cash. In addition, if such increased amount
results in an increase to the number of Net Shares (determined in accordance with Section
15.02(b), but based on such increased Conversion Rate) as compared to the number of Net
Shares calculated without such Additional Shares, the Company shall deliver, promptly
following the Effective Date, such increase to the number of Net Shares (and pay, in lieu
of any fractional shares, cash based on the Daily VWAP of the Common Stock on the last day
of the applicable Conversion Period). Any such Net Shares delivered following the
Effective Date shall be subject to Section 15.06. In no event shall the Company pay such
increase to the Principal Return,

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or deliver such increase to the number of Net Shares or Reference Property deliverable
in lieu of the Common Stock, if any, if the Make-Whole Change of Control never becomes
effective.

     (ii) if the last day of the Conversion Period related to such Notes (determined as set
forth under Section 15.02(b)) is on or after the third Scheduled Trading Day immediately
preceding the anticipated Effective Date, the Company shall pay the Principal Return in
cash (together with cash in lieu of fractional shares) and deliver the Net Shares, if any,
all in accordance with Section 15.02(b) below (such determination, for the avoidance of
doubt to include the number of Additional Shares to be added to the Conversion Rate as set
forth in this subsection), on the later to occur of (a) the Effective Date and (b) the
third Business Day immediately following the last day of the applicable Conversion
Period relating to such Notes. Any such Net Shares delivered following the Effective Date
shall be subject to Section 15.06.

     Section 15.02. Conversion Procedure.

     (a) Upon conversion of any Note, subject to this Section 15.02 and Section 15.01 and Section
15.06, the Company shall satisfy the Conversion Obligation with respect to each $1,000 principal
amount of Notes in cash and shares of fully paid Common Stock, if applicable, by delivering, no
later than the third Trading Day immediately following the last day of the applicable Conversion
Period, the aggregate Daily Settlement Amount for each of the 20 VWAP Trading Days during the
Conversion Period for such Notes.

     The “Daily Settlement Amount,” for each $1,000 principal amount of Notes and each of the 20
VWAP Trading Days in the Conversion Period for such Notes, shall consist of:

     (i) cash in an amount equal to the lesser of $50 and the Daily Conversion Value
relating to such day (the sum of such cash amount for each of the 20 VWAP Trading Days,
the “Principal Return”);

     (ii) to the extent the Daily Conversion Value exceeds $50, a number of shares of the
Common Stock equal to the excess of the Daily Conversion Value over $50, divided by the
Daily VWAP of the Common Stock (or the Reference Property) on that VWAP Trading Day (the
sum of such shares for each of the 20 VWAP Trading Days, the “Net Shares”); and

     (iii) The Company shall pay an amount in cash, in lieu of any fractional shares of
Common Stock issuable in connection with payment

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of the Net Shares based upon the Daily VWAP per share of the Common Stock on the last
day of the applicable Conversion Period.

     The Daily Conversion Value and the Daily Settlement Amount shall be determined by the Company
promptly following the last day of the Conversion Period.

     (b) Before any holder of a Note shall be entitled to convert the same as set forth above, such
holder shall (1) in the case of a Global Note, comply with the procedures of the Depositary in
effect at that time and furnish appropriate endorsement and transfer documents, and (2) in the case
of a Note issued in certificated form, surrender such Notes, duly endorsed to the Company or in
blank (and accompanied by appropriate endorsement and transfer documents), at the office of the
Conversion Agent, and give irrevocable written notice (subject to revocation of such notice as set
forth in Section 15.01(a)) to the Conversion Agent in the form on the reverse of such certificated
Note (or a facsimile thereof) (a “Notice of Conversion”) at said office or place that such holder
elects to convert the same and shall state in writing therein the principal amount of Notes to be
converted and the name or names (with addresses) in which such holder wishes the certificate or
certificates for the Net Shares, if any, included upon settlement the Conversion Obligation, if
any, to be registered. No Notice of Conversion with respect to any Notes may be tendered by a
holder thereof if such holder has also tendered a Fundamental Change Repurchase Notice and not
validly withdrawn such Fundamental Change Repurchase Notice in accordance with Section 16.03.

     If more than one Note shall be surrendered for conversion at one time by the same holder, the
Conversion Obligation with respect to such Notes, if any, that shall be payable upon conversion
shall be computed on the basis of the aggregate principal amount of the Notes (or specified
portions thereof to the extent permitted thereby) so surrendered.

     (c) A Note shall be deemed to have been converted immediately prior to the close of business
on the date (the “Conversion Date”) that the holder has complied with the requirements set forth in
clause (b). Except as provided in Section 15.01(d), payment of the cash and Net Shares, if any, in
satisfaction of the Conversion Obligation shall be made by the Company in no event later than the
third Business Day following the last day of the Conversion Period (the “Conversion Settlement
Date”) by paying in cash the Principal Return (together with any cash in lieu of fractional shares)
to the holder of a Note surrendered for conversion, or such holder’s nominee or nominees, and
issue, or cause to be issued, and deliver to the Conversion Agent or to such holder, or such
holder’s nominee or nominees, certificates or a book-entry transfer through the Depositary for the
number of full shares of Common Stock equal to the Net Shares, if any, to which such holder shall
be entitled as part of such Conversion Obligation.

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     (d) In case any Note shall be surrendered for partial conversion, the Company shall execute
and the Trustee shall authenticate and deliver to or upon the written order of the holder of the
Note so surrendered, without charge to such holder, a new Note or Notes in authorized denominations
in an aggregate principal amount equal to the unconverted portion of the surrendered Notes.

     (e) If a holder submits a Note for conversion, the Company shall pay all stamp and other
duties, if any, which may be imposed by the United States or any political subdivision thereof or
taxing authority thereof or therein with respect to the issuance of shares of Common Stock, if any,
upon the conversion. However, the holder shall pay any such tax which is due because the holder
requests any Net Shares to be issued in a name other than the holder’s name. The Trustee may
refuse to deliver the certificates representing the shares of Common Stock being issued in a name
other than the holder’s name until the Trustee receives a sum sufficient to pay any tax which will
be due because the shares are to be issued in a name other than the holder’s name. Nothing herein
shall preclude any tax withholding required by law or regulations.

     (f) Except as provided in Section 15.04, no adjustment shall be made for dividends on any
shares issued upon the conversion of any Note as provided in this Article.

     (g) Upon the conversion of an interest in a Global Note, the Trustee, or the Custodian at the
direction of the Trustee, shall make a notation on such Global Note as to the reduction in the
principal amount represented thereby. The Company shall notify the Trustee in writing of any
conversion of Notes effected through any Conversion Agent other than the Trustee.

     (h) (i) Noteholders at the close of business on a record date will receive payment of interest
payable on the corresponding Interest Payment Date notwithstanding the conversion of such Notes at
any time after the close of business on such record date. Notes surrendered for conversion during
the period from the close of business on any record date to the opening of business on the
corresponding Interest Payment Date must be accompanied by payment of an amount equal to the
interest that the holder is to receive on the Notes; provided, however, that no such payment need
be made (1) with respect to any conversion following the record date immediately preceding the
maturity date, (2) if the Company has specified a Fundamental Change Repurchase Date following a
Fundamental Change that is after a record date but on or prior to the next succeeding Interest
Payment Date or (3) if any overdue interest exists at the time of conversion with respect to such
Note, only to the extent of such overdue interest. Except as described above, no payment or
adjustment will be made for accrued interest on converted Notes.

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     (ii) The Person in whose name the certificate for such shares of Common Stock is
registered shall be treated as a stockholder of record on and after the Conversion Date;
provided, however, that no surrender of Notes on any date when the stock transfer books of
the Company shall be closed shall be effective to constitute the Person or Persons
entitled to receive the shares of Common Stock upon such conversion as the record holder
or holders of such shares of Common Stock on such date, but such surrender shall be
effective to constitute the Person or Persons entitled to receive such shares of Common
Stock as the record holder or holders thereof for all purposes at the close of business on
the next succeeding day on which such stock transfer books are open; such conversion shall
be at the Conversion Rate in effect on the date that such Notes shall have been
surrendered for conversion, as if the stock transfer books of the Company had not been
closed. Upon conversion of Notes, such Person shall no longer be a Noteholder.

     Section 15.03. Exchange In Lieu Of Conversion.

     (a) When a Noteholder surrenders Notes for conversion prior to March 15, 2014, the Company
may, no later than the close of business on the VWAP Trading Day immediately following the date the
Notes are tendered for conversion and all other applicable requirements as set forth under Section
15.02 have been satisfied (the “Exchange Submission Date”), direct the Conversion Agent to
surrender such Notes to a financial institution designated by the Company (a “Financial
Institution”) for exchange in lieu of conversion. The Company must notify such Financial
Institution of the Conversion Period for such Notes.

     (b) In order to accept any such Notes, the Financial Institution must agree with the
converting Noteholder in accordance with customary procedures for secondary market trading on or
prior to the close of business on the VWAP Trading Day immediately following the Exchange
Submission Date (the “Exchange Acceptance Date”), to deliver, in exchange for such Notes, cash
equal to the Principal Return and, if applicable, a number of shares of the Common Stock equal to
the Net Shares, plus cash for any fractional shares and any increase to the Conversion Obligation
as a result of the Additional Shares to be added to the Conversion Rate, as set forth in Section
15.01(d), due upon conversion as set forth in Section 15.02(a), except that the applicable
Conversion Period shall be the 20 consecutive VWAP Trading Day period beginning on and including
the fifth VWAP Trading Day after the Exchange Acceptance Date.

     (c) If the Financial Institution accepts any such Notes, it will, no later than the third
Business Day following the last day of the Conversion Period for such Notes, deliver the
appropriate number of shares of Common Stock (and cash,

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if any), or cash in lieu thereof, in accordance with customary settlement procedures. Any
Notes exchanged by the Financial Institution will remain outstanding, and notwithstanding anything
to the contrary, will not be deemed to be “converted” for purposes of the Indenture. If no
Financial Institution accepts any Notes surrendered for exchange by the Exchange Acceptance Date, a
Conversion Date will be deemed to have occurred on the date the Notes were tendered for conversion
and all other applicable requirements as set forth under Section 15.02 were satisfied, and the
Company will convert the Notes into cash and, if applicable, shares of the Common Stock as set
forth under Section 15.02(a).

     (d) If the Financial Institution agrees to accept any Notes for exchange but does not timely
deliver the related consideration, a Conversion Date will be deemed to have occurred on the Trading
Day immediately following the date such consideration was due by such Financial Institution and the
Company will convert the Notes into cash and shares of the Common Stock based on such Conversion
Date and a new Conversion Period that commences on the third scheduled VWAP Trading Day immediately
after such Conversion Date as set forth under Section 15.02(a).

     (e) The Company’s designation of a Financial Institution pursuant to this Section 15.03 does
not require the Financial Institution to accept any Notes. The Company will not pay any
consideration to, or otherwise enter into any arrangement with, the Financial Institution for or
with respect to such designation pursuant to this Section 15.03.

     (f) Noteholders have no ability to select the Financial Institution that may be willing to
accept any Notes for exchange pursuant to this Section 15.03. Accordingly, Noteholders will be
assuming the risk that such Financial Institution does not perform its obligation to Noteholders
once it has agreed with Noteholders to accept the Notes for exchange. In such event, the Company
will accept such Notes for conversion as described in this Section 15.03, but the Company will not
compensate Noteholders for any losses Noteholders may incur as a result of such Financial
Institution’s failure to perform, including any loss to the consideration Noteholders would have
received as a result of a decline in the price of the Common Stock after the Notes are tendered for
conversion and prior to the end of the new Conversion Period that arises due to such Financial
Institution’s failure to perform.

     Section 15.04. Adjustment of Conversion Rate. The Conversion Rate shall be adjusted from
time to time by the Company as follows:

     (a) In case the Company shall hereafter pay a dividend or make a distribution to all holders
of the outstanding Common Stock in shares of Common

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Stock, or shall effect a subdivision into a greater number of shares of Common Stock or
combination into a lesser number of shares of Common Stock, the Conversion Rate shall be Adjusted
so that the same shall equal the rate determined by multiplying the Conversion Rate in effect at
the close of business on the Record Date for such dividend or other distribution or subdivision or
combination by a fraction,

     (i) the numerator of which shall be the sum of the number of shares of Common Stock
outstanding at the close of business on the Record Date plus the total number of shares of
Common Stock constituting such dividend or other distribution; and

     (ii) the denominator of which shall be the number of shares of Common Stock
outstanding at the close of business on the Record Date,

such increase to become effective immediately after the opening of business on the Record Date for
such determination.

     (b) In case the Company shall issue rights or warrants to all holders of its outstanding
shares of Common Stock entitling them (for a period expiring within forty-five (45) days after the
Record Date fixed for such issuance) to subscribe for or purchase shares of Common Stock (or
securities convertible into Common Stock) at a price per share (or having a conversion price per
share) less than the Current Market Price of the Common Stock, the Conversion Rate shall be
increased so that the same shall equal the rate determined by multiplying the Conversion Rate in
effect immediately prior to the Record Date for such distribution by a fraction,

     (i) the numerator of which shall be the number of shares of Common Stock outstanding
at the close of business on the Record Date for such distribution plus the total number of
additional shares of Common Stock offered for subscription or purchase or issuable
pursuant to such rights or warrants, and

     (ii) the denominator of which shall be the number of shares of Common Stock
outstanding at the close of business on the Record date for such distribution plus the
quotient obtained by dividing (x) the aggregate price payable to exercise such rights, by
(y) the average of the Closing Sale Prices of the Common Stock for the 10 consecutive
Trading Days immediately preceding the announcement date for such distribution.

Such adjustment shall be successively made whenever any such rights or warrants are issued, and
shall become effective immediately after the opening of business on the day following the Record
Date for such distribution. To the extent that

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shares of Common Stock are not delivered after the expiration of such rights or warrants, the
Conversion Rate shall be readjusted to the Conversion Rate that would then be in effect had the
adjustments made upon the issuance of such rights or warrants been made on the basis of delivery of
only the number of shares of Common Stock actually delivered. If such rights or warrants are not
so issued, the Conversion Rate shall again be adjusted to be the Conversion Rate that would then be
in effect if such Record Date for such distribution had not been fixed.

     (c) In case the Company shall, by dividend or otherwise, distribute to all holders of its
Common Stock shares of any class of Capital Stock of the Company (other than Common Stock as
covered by Section 15.04(a)) or evidences of its indebtedness, cash or other assets (including
securities, but excluding dividends and distributions covered by Section 15.04(b), Section 15.04(d)
or Section 15.04(e)) (any of such shares of Capital Stock, indebtedness, cash or other property
hereinafter in this Section 15.04(c)) called the “Distributed Property”)), then, in each such case
the Conversion Rate shall be increased so that the same shall be equal to the rate determined by
multiplying the Conversion Rate in effect on the Record Date with respect to such distribution by a
fraction,

     (i) the numerator of which shall be the Current Market Price on such Record Date; and

     (ii) the denominator of which shall be the Current Market Price on such Record Date
less the Fair Market Value (as determined by the Board of Directors, whose determination
shall be conclusive, and described in a resolution of the Board of Directors) on the
Record Date of the portion of the Distributed Property so distributed applicable to one
share of Common Stock,

such adjustment to become effective immediately prior to the opening of business on the day
following such Record Date; provided that if the then Fair Market Value (as so determined) of the
portion of the Distributed Property so distributed applicable to one share of Common Stock is equal
to or greater than the Current Market Price on the Record Date, in lieu of the foregoing
adjustment, adequate provision shall be made so that each Noteholder shall have the right to
receive, for each $1,000 principal amount of Notes upon conversion, the amount of Distributed
Property such holder would have received had such holder owned an amount of shares of Common Stock
equal to the Conversion Rate on the Record Date. If such dividend or distribution is not so paid
or made, the Conversion Rate shall again be adjusted to be the Conversion Rate that would then be
in effect if such dividend or distribution had not been declared. If the Board of Directors
determines the Fair Market Value of any distribution for purposes of this Section 15.04(c) by
reference to the actual or when issued trading market for any securities, it must in doing so
consider the prices in such market over the same

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period used in computing the Current Market Price on the applicable Record Date.

     Notwithstanding the foregoing, if the Distributed Property distributed by the Company to all
holders of its Common Stock consist of Capital Stock of, or similar equity interests in, a
Subsidiary or other business unit of the Company that are, or, when issued, will be, traded on a
U.S. securities exchange, the Conversion Rate shall be increased so that the same shall be equal to
the rate determined by multiplying the Conversion Rate in effect on the Record Date with respect to
such distribution by a fraction,

     (i) the numerator of which shall be the sum of (A) the average of the Closing Sale
Prices of the Capital Stock or equity interest applicable to one share of Common Stock for
the 10 consecutive Trading Days commencing on and including the third Trading Day after
the Ex-Dividend Date plus (B) the average of the Closing Sale Prices of the Common Stock
for the 10 consecutive Trading Days commencing on and including the third Trading Day
after the Ex-Dividend Date; and

     (ii) the denominator of which shall be the average of the Closing Sale Prices of the
Common Stock for the 10 consecutive Trading Days commencing on and including the third
Trading Day after the Ex-Dividend Date,

     such adjustment to become effective immediately prior to the opening of business on the day
following such Record Date.

     Rights or warrants distributed by the Company to all holders of Common Stock entitling the
holders thereof to subscribe for or purchase shares of the Company’s Capital Stock (either
initially or under certain circumstances), which rights or warrants, until the occurrence of a
specified event or events (“Trigger Event”): (i) are deemed to be transferred with such shares of
Common Stock; (ii) are not exercisable; and (iii) are also issued in respect of future issuances of
Common Stock, shall be deemed not to have been distributed for purposes of this Section 15.04 (and
no adjustment to the Conversion Rate under this Section 15.04 will be required) until the
occurrence of the earliest Trigger Event, whereupon such rights and warrants shall be deemed to
have been distributed and an appropriate adjustment (if any is required) to the Conversion Rate
shall be made under this Section 15.04(c). If any such right or warrant, including any such
existing rights or warrants distributed prior to the date of this Indenture, are subject to events,
upon the occurrence of which such rights or warrants become exercisable to purchase different
securities, evidences of indebtedness or other assets, then the date of the occurrence of any and
each such event shall be deemed to be the date of distribution and record date with respect to new
rights or

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warrants with such rights (and a termination or expiration of the existing rights or warrants
without exercise by any of the holders thereof). In addition, in the event of any distribution (or
deemed distribution) of rights or warrants, or any Trigger Event or other event (of the type
described in the preceding sentence) with respect thereto that was counted for purposes of
calculating a distribution amount for which an adjustment to the Conversion Rate under this Section
15.04 was made, (1) in the case of any such rights or warrants that shall all have been redeemed or
repurchased without exercise by any holders thereof, the Conversion Rate shall be readjusted upon
such final redemption or repurchase to give effect to such distribution or Trigger Event, as the
case may be, as though it were a cash distribution, equal to the per share redemption or repurchase
price received by a holder or holders of Common Stock with respect to such rights or warrants
(assuming such holder had retained such rights or warrants), made to all holders of Common Stock as
of the date of such redemption or repurchase, and (2) in the case of such rights or warrants that
shall have expired or been terminated without exercise by any holders thereof, the Conversion Rate
shall be readjusted as if such rights and warrants had not been issued.

     For purposes of this Section 15.04(c), Section 15.04(a), and Section 15.04(b), any dividend or
distribution to which this Section 15.04(c) is applicable that also includes shares of Common
Stock, or rights or warrants to subscribe for or purchase shares of Common Stock to which Section
15.04(b) applies (or both), shall be deemed instead to be (1) a dividend or distribution of the
evidences of indebtedness, assets or shares of capital stock other than such shares of Common Stock
or rights or warrants to which Section 15.04(b) applies (and any Conversion Rate adjustment
required by this Section 15.04(c) with respect to such dividend or distribution shall then be made)
immediately followed by (2) a dividend or distribution of such shares of Common Stock or such
rights or warrants (and any further Conversion Rate adjustment required by Section 15.04(a) and
Section 15.04(b) with respect to such dividend or distribution shall then be made), except (A) the
Record Date of such dividend or distribution shall be substituted as “the Record Date”, “the date
fixed for the determination of stockholders entitled to receive such rights or warrants” and “the
date fixed for such determination” within the meaning of Section 15.04(a) and Section 15.04(b) and
(B) any shares of Common Stock included in such dividend or distribution shall not be deemed
“outstanding at the close of business on the date fixed for such determination” within the meaning
of Section 15.04(a).

     (d) In case the Company shall, by dividend or otherwise, distribute exclusively cash to all
holders of its Common Stock then the Conversion Rate shall be adjusted by multiplying the
Conversion Rate in effect immediately prior to the close of business on the Record Date for such
dividend or distribution by a fraction,

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     (i) the numerator of which shall be the Current Market Price on such Record Date; and

     (ii) the denominator of which shall be the Current Market Price on such record date
minus the amount of cash so distributed applicable to one share of Common Stock,

such adjustment to be effective immediately prior to the opening of business on the day following
the record date; provided that if the portion of the cash so distributed applicable to one share of
Common Stock is equal to or greater than the Current Market Price on the Record Date, in lieu of
the foregoing adjustment, adequate provision shall be made so that each Noteholder shall have the
right to receive upon conversion of a Note (or any portion thereof) the amount of cash such holder
would have received had such holder owned a number of shares equal to the Conversion Rate on the
Record Date. If such dividend or distribution is not so paid or made, the Conversion Rate shall
again be adjusted to be the Conversion Rate that would then be in effect if such dividend or
distribution had not been declared.

     For the avoidance of doubt, for purposes of this Section 15.04(d), in the event of any
reclassification of the Common Stock, as a result of which the Notes become convertible into more
than one class of Common Stock, if an adjustment to the Conversion Rate is required pursuant to
this Section 15.04(e), references in this Section to one share of Common Stock or to the Current
Market Price or Closing Sale Price of one share of Common Stock shall be deemed to refer to a unit
or to the price of a unit consisting of the number of shares of each class of Common Stock into
which the Notes are then convertible equal to the numbers of shares of such class issued in respect
of one share of Common Stock in such reclassification. The above provisions of this paragraph
shall similarly apply to successive reclassifications.

     (e) In case a tender or exchange offer made by the Company or any Subsidiary for all or any
portion of the Common Stock shall expire and such tender or exchange offer (as amended upon the
expiration thereof) shall require the payment to stockholders of cash and any other consideration
per share of Common Stock having a Fair Market Value (as determined by the Board of Directors, and
described in a resolution of the Board of Directors) that as of the last time (the “Expiration
Time”) tenders or exchanges may be made pursuant to such tender or exchange offer (as it may be
amended) exceeds the Current Market Price of the Common Stock on the Trading Day next preceding the
Expiration Time, the Conversion Rate shall be increased so that the same shall equal the rate
determined by multiplying the Conversion Rate in effect immediately prior to the Expiration Time by
a fraction,

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     (i) the numerator of which shall be the sum of (x) the Fair Market Value (determined
as aforesaid) of the aggregate consideration payable to stockholders based on the
acceptance (up to any maximum specified in the terms of the tender or exchange offer) of
all shares validly tendered or exchanged and not withdrawn as of the
Expiration Time (the shares deemed so accepted up to any such maximum, being referred to as the “Purchased
Shares”) and (y) the product of the number of shares of Common Stock outstanding (less any
Purchased Shares) at the Expiration Time and the Current Market Price of a share of Common
Stock on the Trading Day next preceding the Expiration Time, and

     (ii) the denominator of which shall be the number of shares of Common Stock
outstanding (including any Purchased Shares) at the Expiration Time multiplied by the
Current Market Price of a share of Common Stock on the Trading Day next preceding the
Expiration Time,

such adjustment to become effective immediately prior to the opening of business on the day
following the Expiration Time. If the Company is obligated to purchase shares pursuant to any such
tender or exchange offer, but the Company is permanently prevented by applicable law from effecting
any such purchases or all such purchases are rescinded, the Conversion Rate shall again be adjusted
to be the Conversion Rate that would then be in effect if such tender or exchange offer had not
been made.

     (f) For purposes of this Section 15.04 the term “Record Date” shall mean, with respect to any
dividend, distribution or other transaction or event in which the holders of Common Stock have the
right to receive any cash, securities or other property or in which the Common Stock (or other
applicable security) is exchanged for or converted into any combination of cash, securities or
other property, the date fixed for determination of stockholders entitled to receive such cash,
securities or other property (whether such date is fixed by the Board of Directors or by statute,
contract or otherwise).

     (g) Notwithstanding the above, in no case will the Company adjust the Conversion Rate pursuant
to clauses (a), (b), (c), (d), (e) or (f) of this Section 15.04 to an amount that exceeds [     ] shares per $1,000 principal amount of the Notes. The Company will adjust this maximum conversion
rate in the same manner in which it must adjust the conversion rate pursuant to Section 15.06.

     (h) In addition to those required by clauses (a), (b), (c), (d), (e) or (f) of this Section
15.04, and to the extent permitted by applicable law or applicable rules of The Nasdaq Stock
Market, the Company from time to time may increase the Conversion Rate by any amount the Board of
Directors deems advisable including such increases that would avoid or diminish any income tax to
holders

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of Common Stock or rights to purchase Common Stock resulting from any dividend or distribution
of stock (or rights to acquire stock) or from any event treated as such for income tax purposes or
would otherwise be in the best interests of the Company, which determination shall be conclusive.
Whenever the Conversion Rate is increased pursuant to the preceding sentence, the Company shall
mail to the holder of each Note at his last address appearing on the Note register provided for in
Section 2.06 a notice of the increase at least fifteen days prior to the date the increased
Conversion Rate takes effect, and such notice shall state the increased Conversion Rate and the
period during which it will be in effect.

     (i) All calculations and other determinations under this Article 15 shall be made by the
Company and shall be made to the nearest cent or to the nearest one-ten thousandth (1/10,000) of a
share, as the case may be. No adjustment shall be made for the Company’s issuance of Common Stock
or convertible or exchangeable securities or rights to purchase Common Stock or convertible or
exchangeable securities, other than as provided in this Section 15.04. No adjustment shall be made
to the Conversion Rate unless such adjustment would require a change of at least 1% in the
Conversion Rate then in effect at such time. Any adjustment that would otherwise be required to be
made shall be carried forward and taken into account in ay subsequent adjustment; provided that,
notwithstanding the foregoing, all such carried forward adjustments shall be made at the time the
Company shall notify holders of Notes of a transaction entitling such holders to convert their
Notes pursuant to Section 15.01 and thereafter any Conversion Rate adjustment shall be made without
regard to the 1% threshold described in the preceding sentence.

     (j) Whenever the Conversion Rate is adjusted as herein provided, the Company shall promptly
file with the Trustee and any Conversion Agent other than the Trustee an Officers’ Certificate
setting forth the Conversion Rate after such adjustment and setting forth a brief statement of the
facts requiring such adjustment. Unless and until a Responsible Officer of the Trustee shall have
received such Officers’ Certificate, the Trustee shall not be deemed to have knowledge of any
adjustment of the Conversion Rate and may assume without inquiry that the last Conversion Rate of
which it has knowledge is still in effect. Promptly after delivery of such certificate, the
Company shall prepare a notice of such adjustment of the Conversion Rate setting forth the adjusted
Conversion Rate and the date on which each adjustment becomes effective and shall mail such notice
of such adjustment of the Conversion Rate to the holder of each Note at his last address appearing
on the Note register provided for in Section 2.06 of this Indenture, within twenty (20) days of the
effective date of such adjustment. Failure to deliver such notice shall not affect the legality or
validity of any such adjustment.

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     (k) In any case in which this Section 15.04 provides that an adjustment shall become effective
immediately after (1) a record date or Record Date for an event, (2) the date fixed for the
determination of stockholders entitled to receive a dividend or distribution pursuant to Section
15.04(a), (3) a date fixed for the determination of stockholders entitled to receive rights or
warrants pursuant to Section 15.04(b), or (4) the Expiration Time, as the case may be, for any
tender or exchange offer pursuant to Section 15.04(e) or Section 15.04, (each an “Adjustment
Determination Date”), the Company may elect to defer until the occurrence of the applicable
Adjustment Event (as hereinafter defined) (x) issuing to the holder of any Note converted after
such Adjustment Determination Date and before the occurrence of such Adjustment Event, the
additional shares of Common Stock or other securities issuable upon such conversion by reason of
the adjustment required by such Adjustment Event over and above the Common Stock issuable upon such
conversion before giving effect to such adjustment and (y) paying to such holder any amount in cash
in lieu of any fraction pursuant to Section 15.04. For purposes of this Section 15.04(k), the term
“Adjustment Event” shall mean:

     (i) in any case referred to in clause (1) hereof, the occurrence of such event,

     (ii) in any case referred to in clause (2) hereof, the date any such dividend or
distribution is paid or made,

     (iii) in any case referred to in clause (3) hereof, the date of expiration of such
rights or warrants, and

     (iv) in any case referred to in clause (4) hereof, the date a sale or exchange of
Common Stock pursuant to such tender or exchange offer is consummated and becomes
irrevocable.

     (l) For purposes of this Section 15.04, the number of shares of Common Stock at any time
outstanding shall not include shares held in the treasury of the Company but shall include shares
issuable in respect of scrip certificates issued in lieu of fractions of shares of Common Stock.
The Company will not pay any dividend or make any distribution on shares of Common Stock held in
the treasury of the Company.

     Section 15.05. Shares to Be Fully Paid. The Company shall provide, free from preemptive
rights, out of its authorized but unissued shares or shares held in treasury, sufficient shares of
Common Stock to provide for conversion of the Notes from time to time as such Notes are presented
for conversion.

     Section 15.06. Effect of Reclassification, Consolidation, Merger or Sale.

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     If any of the following events occur, namely (i) any reclassification or change of the
outstanding shares of Common Stock (other than a change in par value, or from par value to no par
value, or from no par value to par value, or as a result of a split, subdivision or combination),
(ii) any consolidation, merger or combination of the Company with another Person as a result of
which holders of Common Stock shall be entitled to receive stock, securities or other property or
assets (including cash) with respect to or in exchange for such Common Stock, or (iii) any sale,
lease, transfer or conveyance of all or substantially all of the properties and assets of the
Company and its Subsidiaries substantially as an entirety to any other Person as a result of which
holders of Common Stock shall be entitled to receive stock, securities or other property or assets
(including cash or any combination thereof) with respect to or in exchange for such Common Stock
(any such event a “Merger Event”), then:

     (a) the Company or the successor or purchasing corporation, as the case may be, shall execute
with the Trustee a supplemental indenture (which shall comply with the Trust Indenture Act as in
force at the date of execution of such supplemental indenture if such supplemental indenture is
then required to so comply) permitted under Section 11.01(a) providing for the conversion and
settlement of the Notes as set forth in this Indenture. Such supplemental indenture shall provide
for adjustments which shall be as nearly equivalent as may be practicable to the adjustments
provided for in this Article. If, in the case of any Merger Event, the Reference Property includes
shares of stock or other securities and assets of a corporation other than the successor or
purchasing corporation, as the case may be, in such reclassification, change, consolidation,
merger, combination, sale or conveyance, then such supplemental indenture shall also be executed by
such other corporation and shall contain such additional provisions to protect the interests of the
holders of the Notes as the Board of Directors shall reasonably consider necessary by reason of the
foregoing, including to the extent required by the Board of Directors and practicable the
provisions providing for the repurchase rights set forth in Article 16 herein.

     In the event the Company shall execute a supplemental indenture pursuant to this Section
15.06, the Company shall promptly file with the Trustee an Officers’ Certificate briefly stating
the reasons therefore, the kind or amount of shares of stock or other securities or property
(including cash) that will constitute the Reference Property after any such Merger Event, any
adjustment to be made with respect thereto and that all conditions precedent have been complied
with, and shall promptly mail notice thereof to all Noteholders.

     (b) Notwithstanding the provisions of Section 15.02(a), and subject to the provisions of
Section 15.01, at the effective time of such Merger Event, (i) the right to convert each $1,000
principal amount of Notes will be changed to a right to convert such Note into the kind and amount
of shares of stock, other securities

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or other property or assets (including cash or any combination thereof) that a holder of a
number of shares of Common Stock equal to the Conversion Rate immediately prior to such transaction
would have owned or been entitled to receive (the “Reference Property”) and (ii) the related
Conversion Obligation shall be settled as set forth under clause (c) below. For purposes of
determining the constitution of Reference Property, the kind and amount of consideration that a
holder of Common Stock would have been entitled to in the case of recapitalizations,
reclassifications, consolidations, mergers, sales or transfers of assets or other transactions that
cause the Common Stock to be converted into the right to receive more than a single type of
consideration (determined based in part upon any form of stockholder election) will be deemed to be
(i) the weighted average of the kinds and amounts of consideration received by the holders of
Common Stock that affirmatively make such an election or (ii) if no holders of the Common Stock
affirmatively make such an election, the kinds and amounts of consideration actually received by
such holders. The Company shall not become a party to any such transaction unless its terms are
consistent with the preceding. None of the foregoing provisions shall affect the right of a holder
of Notes to convert its Notes into cash and shares of Common Stock, as set forth in Section 15.01
and Section 15.02 prior to the effective date.

     (c) If the Notes shall relate to Reference Property as set forth above, the related Conversion
Obligation, with respect to each $1,000 principal amount of Notes tendered for conversion after the
effective date of any such Merger Event, shall be settled in cash and units of Reference Property
in accordance with Section 15.02 as follows:

     (i) The Daily Conversion Value for each day of the Conversion Period shall be based
on the per unit value of the Reference Property on such day (including, subject to
15.01(d), any Additional Shares added to such Reference Property) as set forth in Section
15.02(a). Such per unit value shall be (A) for any shares of common stock that are
included in the Reference Property, as set forth in the definition of “Common Stock” as if
such shares were “Common Stock” using the procedures set forth in the definition of
“Closing Sale Price” in Section 1.01; (B) for any other property (other than cash)
included in the Reference Property, as determined in good faith by the Board of Directors
or by a New York Stock Exchange member firm selected by the Board of Directors and (C) for
any cash, the face amount of such cash.

     (ii) The Company shall pay in cash the Principal Return as set forth in Section
15.02(a), and an amount of Reference Property (the “Net Reference Property Amount”)
determined in accordance with this clause (ii). The Net Reference Property Amount for
each $1,000 principal amount of Notes shall be the sum of, for each of the 20 VWAP Trading

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Day in the Conversion Period for such Notes, an amount of units of Reference Property
equal to (1) any excess of (a) the Daily Conversion Value on such Trading Day (determined
in the same manner as set forth in Section 15.06(c)(i) above) over (b) $50, divided by (2)
the per unit value of such Reference Property on such Trading Day.

     (d) Notwithstanding clause (c) above, if the Notes are tendered for conversion prior to the
effective date of any such Merger Event pursuant to Section 15.01(d) above, and the Company shall
be obligated to deliver any increase to the Daily Conversion Value in additional Net Shares
following the effective date of such Merger Event, such additional Net Shares shall be delivered in
the kind and amount of Reference Property as a holder of such additional Net Shares would have
received in such Merger Event.

     (e) The Company shall cause notice of the execution of such supplemental indenture to be
mailed to each Noteholder, at his address appearing on the Note register provided for in this
Indenture, within twenty (20) days after execution thereof. Failure to deliver such notice shall
not affect the legality or validity of such supplemental indenture.

     (f) The above provisions of this Section shall similarly apply to successive Merger Events.

     Section 15.07. Certain Covenants.

     (a) Before taking any action which would cause an adjustment reducing the Conversion Rate
below the then par value, if any, of the shares of Common Stock issuable upon conversion of the
Notes, the Company will take all corporate action which may, in the opinion of its counsel, be
necessary in order that the Company may validly and legally issue shares of such Common Stock at
such adjusted Conversion Rate.

     The Company covenants that all shares of Common Stock issued upon conversion of Notes will be
fully paid and non-assessable by the Company and free from all taxes, liens and changes with
respect to the issue thereof.

     (b) The Company covenants that, if any shares of Common Stock to be provided for the purpose
of conversion of Notes hereunder require registration with or approval of any governmental
authority under any federal or state law before such shares may be validly issued upon conversion,
the Company will in good faith and as expeditiously as possible, to the extent then permitted by
the rules and interpretations of the Commission (or any successor thereto), endeavor to secure such
registration or approval, as the case may be.

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     (c) The Company further covenants that if at any time the Common Stock shall be listed on any
other national securities exchange or automated quotation system the Company will, if permitted and
required by the rules of such exchange or automated quotation system, list and keep listed, so long
as the Common Stock shall be so listed on such exchange or automated quotation system, all Common
Stock issuable upon conversion of the Notes.

     Section 15.08. Responsibility of Trustee. The Trustee and any other Conversion Agent shall
not at any time be under any duty or responsibility to any Noteholder to determine the Conversion
Rate or whether any facts exist which may require any adjustment of the Conversion Rate, or with
respect to the nature or extent or calculation of any such adjustment when made, or with respect to
the method employed, or herein or in any supplemental indenture provided to be employed, in making
the same. The Trustee and any other Conversion Agent shall not be accountable with respect to the
validity or value (or the kind or amount) of any shares of Common Stock, or of any securities or
property, which may at any time be issued or delivered upon the conversion of any Note; and the
Trustee and any other Conversion Agent make no representations with respect thereto. Neither the
Trustee nor any Conversion Agent shall be responsible for any failure of the Company to issue,
transfer or deliver any shares of Common Stock or stock certificates or other securities or
property or cash upon the surrender of any Note for the purpose of conversion or to comply with any
of the duties, responsibilities or covenants of the Company contained in this Article. Without
limiting the generality of the foregoing, neither the Trustee nor any Conversion Agent shall be
under any responsibility to determine the correctness of any provisions contained in any
supplemental indenture entered into pursuant to Section 15.06 relating either to the kind or amount
of shares of stock or securities or property (including cash) receivable by Noteholders upon the
conversion of their Notes after any event referred to in such Section 15.06 or to any adjustment to
be made with respect thereto, but, subject to the provisions of Section 8.01, may accept as
conclusive evidence of the correctness of any such provisions, and shall be protected in relying
upon, the Officers’ Certificate (which the Company shall be obligated to file with the Trustee
prior to the execution of any such supplemental indenture) with respect thereto.

     Section 15.09. Notice to Holders Prior to Certain Actions. In case:

     (a) the Company shall declare a dividend (or any other distribution) on its Common
Stock that would require an adjustment in the Conversion Rate pursuant to Section 15.04;
or

     (b) the Company shall authorize the granting to all of the holders of its Common
Stock of rights or warrants to subscribe for or purchase any share of any class or any
other rights or warrants; or

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     (c) of any reclassification of the Common Stock of the Company (other than a
subdivision or combination of its outstanding Common Stock, or a change in par value, or
from par value to no par value, or from no par value to par value), or of any
consolidation or merger to which the Company is a party and for which approval of any
shareholders of the Company is required, or of the sale or transfer of all or
substantially all of the assets of the Company; or

     (d) of the voluntary or involuntary dissolution, liquidation or winding-up of the
Company;

the Company shall cause to be filed with the Trustee and to be mailed to each Noteholder at his
address appearing on the Note register, provided for in Section 2.06 of this Indenture, as promptly
as possible but in any event at least twenty days prior to the applicable date hereinafter
specified, a notice stating (x) the date on which a record is to be taken for the purpose of such
dividend, distribution or rights or warrants, or, if a record is not to be taken, the date as of
which the holders of Common Stock of record to be entitled to such dividend, distribution or rights
are to be determined, or (y) the date on which such reclassification, consolidation, merger, sale,
transfer, dissolution, liquidation or winding-up is expected to become effective or occur, and the
date as of which it is expected that holders of Common Stock of record shall be entitled to
exchange their Common Stock for securities or other property deliverable upon such
reclassification, consolidation, merger, sale, transfer, dissolution, liquidation or winding-up.
Failure to give such notice, or any defect therein, shall not affect the legality or validity of
such dividend, distribution, reclassification, consolidation, merger, sale, transfer, dissolution,
liquidation or winding-up.

     Section 15.10. Shareholder Rights Plans. Each share of Common Stock issued upon conversion
of Notes pursuant to this Article 15 shall be entitled to receive the appropriate number of rights,
if any, and the certificates representing the Common Stock issued upon such conversion shall bear
such legends, if any, in each case as may be provided by the terms of any shareholder rights plan
adopted by the Company, as the same may be amended from time to time. If at the time of conversion,
however, the rights have separated from the shares of Common Stock in accordance with the
provisions of the applicable shareholder rights agreement so that the holders of the Notes would
not be entitled to receive any rights in respect of Common Stock issuable upon conversion of the
Notes, the Conversion Rate will be adjusted as provided in Section 15.04(c).

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ARTICLE 16

Repurchase of Notes at Option of Holders

     Section 16.01. [Reserved].

     Section 16.02. Repurchase at Option of Holders Upon a Fundamental Change.

     (a) If there shall occur a Fundamental Change at any time prior to maturity of the Notes, then
each Noteholder shall have the right, at such holder’s option, to require the Company to repurchase
all of such holder’s Notes for cash, or any portion thereof that is a multiple of $1,000 principal
amount, on the date (the “Fundamental Change Repurchase Date”) specified by the Company that is not
less than twenty (20) Business Days and not more than thirty five (35) Business Days after the date
of the Fundamental Change Repurchase Notice (as defined below) at a repurchase price equal to 100%
of the principal amount thereof, together with accrued and unpaid interest, if any, thereon to, but
excluding, the Fundamental Change Repurchase Date (the “Fundamental Change Repurchase Price”). If
such Fundamental Change Repurchase Date falls after a record date for the payment of interest and
on or prior to the corresponding Interest Payment Date, the Company shall instead pay the principal
amount to the Noteholders, and pay the full amount of accrued and unpaid interest, if any, payable
on such Interest Payment Date to the holder of record on the close of business on the corresponding
record date. Repurchases of Notes under this Section 16.02 shall be made, at the option of the
holder thereof, upon:

     (i) delivery to the Trustee (or other Paying Agent appointed by the Company) by a
holder of a duly completed notice (the “Fundamental Change Repurchase Notice”) in the form
set forth on the reverse of the Note prior to the close of business on the Fundamental
Change Repurchase Date; and

     (ii) delivery or book-entry transfer of the Notes to the Trustee (or other Paying
Agent appointed by the Company) at any time after delivery of the Fundamental Change
Repurchase Notice (together with all necessary endorsements) at the Corporate Trust Office
of the Trustee (or other Paying Agent appointed by the Company) in the Borough of
Manhattan, such delivery being a condition to receipt by the holder of the Fundamental
Change Repurchase Price therefor; provided that such Fundamental Change Repurchase Price
shall be so paid pursuant to this Section 16.02 only if the Note so delivered to the
Trustee (or other Paying Agent appointed by the Company) shall conform in all respects to
the description thereof in the related Fundamental Change Repurchase Notice.

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     Any purchase by the Company contemplated pursuant to the provisions of this Section 16.02
shall be consummated by the delivery of the consideration to be received by the holder promptly
following the later of the Fundamental Change Repurchase Date and the time of the book-entry
transfer or delivery of the Note.

     Notwithstanding anything herein to the contrary, any holder delivering to the Trustee (or
other Paying Agent appointed by the Company) the Fundamental Change Repurchase Notice contemplated
by this Section 16.02 shall have the right to withdraw such Fundamental Change Repurchase Notice at
any time prior to the close of business on the Business Day prior to the Fundamental Change
Repurchase Date by delivery of a written notice of withdrawal to the Trustee (or other Paying Agent
appointed by the Company) in accordance with Section 16.03 below.

     The Trustee (or other Paying Agent appointed by the Company) shall promptly notify the Company
of the receipt by it of any Fundamental Change Repurchase Notice or written notice of withdrawal
thereof.

     (b) On or before the fifteenth day after the occurrence of a Fundamental Change, the Company
shall mail to all holders of record of the Notes a notice (the “Fundamental Change Notice”) of the
occurrence of such Fundamental Change and of the repurchase right at the option of the holders
arising as a result thereof. Such mailing shall be by first class mail. The Company shall also
deliver a copy of the Fundamental Change Notice to the Trustee and cause a copy of such Fundamental
Change Notice, or a summary of the information contained therein, to be published once in a
newspaper of general circulation in The City of New York. Concurrently with the mailing of any
Fundamental Change Notice, the Company shall issue a press release announcing such Fundamental
Change referred to in the Fundamental Change Notice, the form and content of which press release
shall be determined by the Company in its sole discretion. The failure to issue any such press
release or any defect therein shall not affect the validity of the Fundamental Change Notice or any
proceedings for the repurchase of any Note that any Noteholder may elect to have the Company
repurchase as provided in this Section 16.02.

     Each Fundamental Change Notice shall specify the circumstances constituting the Fundamental
Change, the Fundamental Change Repurchase Date and the Fundamental Change Repurchase Price, that
the holder must exercise the repurchase right on or prior to the close of business on the
Fundamental Change Repurchase Date (the “Fundamental Change Expiration Time”), that the holder
shall have the right to withdraw any Notes surrendered prior to the Fundamental Change Expiration
Time, a description of the procedure which a Noteholder must follow to exercise such repurchase
right and to withdraw any surrendered Notes, the place or places where the holder is to surrender
such holder’s Notes and the

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CUSIP number or numbers of the Notes (if then generally in use) and include a form of
Fundamental Change Repurchase Notice.

     No failure of the Company to give the foregoing notices and no defect therein shall limit the
Noteholders’ repurchase rights or affect the validity of the proceedings for the repurchase of the
Notes pursuant to this Section 16.02.

     (c) Notwithstanding the foregoing, no Notes may be repurchased by the Company at the option of
the holders upon a Fundamental Change if the principal amount of the Notes has been accelerated,
and such acceleration has not been rescinded, on or prior to the Fundamental Change Repurchase
Date.

     Section 16.03. Withdrawal of Fundamental Change Repurchase Notice.

     (a) A Fundamental Change Repurchase Notice may be withdrawn by means of a written notice of
withdrawal delivered to the Corporate Trust Office of the Trustee (or other Paying Agent appointed
by the Company) in accordance with the Fundamental Change Repurchase Notice at any time prior to
the close of business on the Business Day prior to the close of business on the Fundamental Change
Repurchase Date, specifying:

     (i) the certificate number, if any, of the Note in respect of which such notice of
withdrawal is being submitted, or the appropriate Depositary information if the Note in
respect of which such notice of withdrawal is being submitted is represented by a Global
Note,

     (ii) the principal amount of the Note with respect to which such notice of withdrawal
is being submitted, and

     (iii) the principal amount, if any, of such Note that remains subject to the original
Fundamental Change Repurchase Notice, which portion must be in principal amounts of $1,000
or an integral multiple of $1,000;

provided, however, that if the Notes are not in certificated form, the notice must comply with
appropriate Depositary Procedures.

     Section 16.04. Deposit of Fundamental Change Repurchase Price.

     (a) On or prior to the Fundamental Change Repurchase Date, the Company will deposit with the
Trustee (or other Paying Agent appointed by the Company or if the Company is acting as its own
Paying Agent, set aside, segregate and hold in trust as provided in Section 5.04) an amount of
money sufficient to repurchase on the Fundamental Change Repurchase Date all of the Notes to be
repurchased on such date at the appropriate Fundamental Change

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Repurchase Price; provided that if such payment is made on the Fundamental Change Repurchase
Date it must be received by the Trustee or Paying Agent, as the case may be, by 11:00 a.m. New York
City time, on such date. Subject to receipt of funds and/or Notes by the Trustee (or other Paying
Agent appointed by the Company), payment for Notes surrendered for repurchase (and not withdrawn)
prior to the Fundamental Change Expiration Time will be made promptly after the later of (x) the
Fundamental Change Repurchase Date with respect to such Note (provided the holder has satisfied the
conditions in Section 16.02) and (y) the time of delivery of such Note to the Trustee (or other
Paying Agent appointed by the Company) by the holder thereof in the manner required by Section
16.02) by mailing checks for the amount payable to the holders of such Notes entitled thereto as
they shall appear in the Note Register, provided, however, that payments to the Depositary shall be
made by wire transfer of immediately available funds to the account of the Depositary or its
nominee. The Trustee shall, promptly after such payment and upon written demand by the Company,
return to the Company any funds in excess of the Fundamental Change Repurchase Price.

     (b) If the Trustee (or other Paying Agent appointed by the Company) holds money sufficient to
repurchase on the Fundamental Change Repurchase Date all the Notes or portions thereof that are to
be purchased as of the Fundamental Change Repurchase Date, then on and after the Business Day
following the Fundamental Change Repurchase Date (i) such Notes will cease to be outstanding, (ii)
interest will cease to accrue on such Notes, and (iii) all other rights of the holders of such
Notes will terminate, whether or not book-entry transfer of the Notes has been made or the Notes
have been delivered to the Trustee or Paying Agent, other than the right to receive the Fundamental
Change Repurchase Price upon delivery of the Notes.

ARTICLE 17

Miscellaneous Provisions

     Section 17.01. Provisions Binding on Company’s Successors. All the covenants, stipulations,
promises and agreements of the Company contained in this Indenture shall bind its successors and
assigns whether so expressed or not.

     Section 17.02. Official Acts by Successor Corporation. Any act or proceeding by any
provision of this Indenture authorized or required to be done or performed by any board, committee
or officer of the Company shall and may be done and performed with like force and effect by the
like board, committee or officer of any corporation that shall at the time be the lawful sole
successor of the Company.

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     Section 17.03. Addresses for Notices, Etc. Any notice or demand which by any provision of
this Indenture is required or permitted to be given or served by the Trustee or by the Noteholders
on the Company shall be deemed to have been sufficiently given or made, for all purposes if given
or served by being deposited postage prepaid by registered or certified mail in a post office
letter box addressed (until another address is filed by the Company with the Trustee) to LifePoint
Hospitals, Inc., 103 Powell Court, Suite 200, Brentwood, Tennessee, 37027, Attention: Chief
Financial Officer. Any notice, direction, request or demand hereunder to or upon the Trustee shall
be deemed to have been sufficiently given or made, for all purposes, if given or served by being
deposited postage prepaid by registered or certified mail in a post office letter box addressed to
the Corporate Trust Office.

     The Trustee, by notice to the Company, may designate additional or different addresses for
subsequent notices or communications.

     Any notice or communication mailed to a Noteholder shall be mailed to him by first class mail,
postage prepaid, at his address as it appears on the Note register and shall be sufficiently given
to him if so mailed within the time prescribed.

     Failure to mail a notice or communication to a Noteholder or any defect in it shall not affect
its sufficiency with respect to other Noteholders. If a notice or communication is mailed in the
manner provided above, it is duly given, whether or not the addressee receives it.

     Section 17.04. Governing Law. THIS INDENTURE AND EACH NOTE SHALL BE DEEMED TO BE A CONTRACT
MADE UNDER THE LAWS OF NEW YORK, AND FOR ALL PURPOSES SHALL BE CONSTRUED IN ACCORDANCE WITH THE
LAWS OF NEW YORK.

     Section 17.05. Evidence of Compliance with Conditions Precedent; Certificates to Trustee.
Upon any application or demand by the Company to the Trustee to take any action under any of the
provisions of this Indenture, the Company shall furnish to the Trustee an Officers’ Certificate
stating that all conditions precedent, if any, provided for in this Indenture relating to the
proposed action have been complied with, and an Opinion of Counsel stating that, in the opinion of
such counsel, all such conditions precedent have been complied with.

     Each certificate or opinion provided for by or on behalf of the Company in this Indenture and
delivered to the Trustee with respect to compliance with a condition or covenant provided for in
this Indenture shall include (1) a statement that the person making such certificate or opinion has
read such covenant or

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condition; (2) a brief statement as to the nature and scope of the examination or
investigation upon which the statement or opinion contained in such certificate or opinion is
based; (3) a statement that, in the opinion of such person, he has made such examination or
investigation as is necessary to enable him to express an informed opinion as to whether or not
such covenant or condition has been complied with; and (4) a statement as to whether or not, in the
opinion of such person, such condition or covenant has been complied with.

     Section 17.06. Legal Holidays. In any case where the date of maturity of interest on or
principal of the Notes or the date fixed for repurchase of any Note will not be a Business Day,
then payment of such interest on or principal of the Notes need not be made on such date, but may
be made on the next succeeding Business Day with the same force and effect as if made on the date
of maturity or the date fixed for repurchase, and no interest shall accrue for the period from and
after such date.

     Section 17.07. No Security Interest Created. Nothing in this Indenture or in the Notes,
expressed or implied, shall be construed to constitute a security interest under the Uniform
Commercial Code or similar legislation, as now or hereafter enacted and in effect, in any
jurisdiction.

     Section 17.08. Trust Indenture Act. This Indenture is hereby made subject to, and shall be
governed by, the provisions of the Trust Indenture Act required to be part of and to govern
indentures qualified under the Trust Indenture Act; provided, however, that, unless otherwise
required by law, notwithstanding the foregoing, this Indenture and the Notes issued hereunder shall
not be subject to the provisions of subsections (a)(1), (a)(2), and (a)(3) of Section 314 of the
Trust Indenture Act as now in effect as hereafter amended or modified; provided further that this
Section 17.08 shall not require that this Indenture or the Trustee be qualified under the Trust
Indenture Act prior to the time such qualification is in fact required under the terms of the Trust
Indenture Act, nor shall it constitute any admission or acknowledgment by any party hereto that any
such qualification is required prior to the time such qualification is in fact required under the
terms of the Trust Indenture Act. If any provision hereof limits, qualifies or conflicts with
another provision hereof which is required to be included in an indenture qualified under the Trust
Indenture Act, such required provision shall control.

     Section 17.09. Benefits of Indenture. Nothing in this Indenture or in the Notes, expressed
or implied, shall give to any person, other than the parties hereto, any Paying Agent, any
authenticating agent, any Note registrar and their successors hereunder, the Noteholders, any
benefit or any legal or equitable right, remedy or claim under this Indenture.

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     Section 17.10. Table of Contents, Headings, Etc. The table of contents and the titles and
headings of the articles and sections of this Indenture have been inserted for convenience of
reference only, are not to be considered a part hereof, and shall in no way modify or restrict any
of the terms or provisions hereof.

     Section 17.11. Authenticating Agent. The Trustee may appoint an authenticating agent which
shall be authorized to act on its behalf and subject to its direction in the authentication and
delivery of Notes in connection with the original issuance thereof and transfers and exchanges of
Notes hereunder, including under Section 2.05, Section 2.06, Section 2.07, and Section 2.08, as
fully to all intents and purposes as though the authenticating agent had been expressly authorized
by this Indenture and those Sections to authenticate and deliver Notes. For all purposes of this
Indenture, the authentication and delivery of Notes by the authenticating agent shall be deemed to
be authentication and delivery of such Notes “by the Trustee” and a certificate of authentication
executed on behalf of the Trustee by an authenticating agent shall be deemed to satisfy any
requirement hereunder or in the Notes for the Trustee’s certificate of authentication. Such
authenticating agent shall at all times be a person eligible to serve as trustee hereunder pursuant
to Section 8.09.

     Any corporation into which any authenticating agent may be merged or converted or with which
it may be consolidated, or any corporation resulting from any merger, consolidation or conversion
to which any authenticating agent shall be a party, or any corporation succeeding to the corporate
trust business of any authenticating agent, shall be the successor of the authenticating agent
hereunder, if such successor corporation is otherwise eligible under this Section, without the
execution or filing of any paper or any further act on the part of the parties hereto or the
authenticating agent or such successor corporation.

     Any authenticating agent may at any time resign by giving written notice of resignation to the
Trustee and to the Company. The Trustee may at any time terminate the agency of any authenticating
agent by giving written notice of termination to such authenticating agent and to the Company.
Upon receiving such a notice of resignation or upon such a termination, or in case at any time any
authenticating agent shall cease to be eligible under this Section, the Trustee shall promptly
appoint a successor authenticating agent (which may be the Trustee), shall give written notice of
such appointment to the Company and shall mail notice of such appointment to all Noteholders as the
names and addresses of such holders appear on the Note register.

     The Company agrees to pay to the authenticating agent from time to time reasonable
compensation for its services although the Company may terminate the authenticating agent, if it
determines such agent’s fees to be unreasonable.

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     The provisions of Section 8.02, Section 8.03, Section 8.04, Section 9.03 and this Section
17.11 shall be applicable to any authenticating agent.

     Section 17.12. Execution in Counterparts. This Indenture may be executed in any number of
counterparts, each of which shall be an original, but such counterparts shall together constitute
but one and the same instrument.

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

	 	 	 	 	 
	 	LIFEPOINT HOSPITALS, INC.

 	 
	 	By:  	 
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	THE BANK OF NEW YORK TRUST COMPANY, N.A.,

as Trustee

 	 
	 	By:  	 
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

 

EXHIBIT A

[FORM OF FACE OF NOTE]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION 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.

A-1

 

LIFEPOINT HOSPITALS, INC.

[     ]% Convertible Senior Subordinated Notes due 2014

			
	 	 	 
	No. 1
	 	$[                      ]

CUSIP No.

     LifePoint Hospitals, Inc., a corporation duly organized and validly existing under the laws of
the State of Delaware (herein called the “Company,” which term includes any successor corporation
under the Indenture referred to on the reverse hereof), for value received hereby promises to pay
to CEDE & CO., or registered assigns, the principal sum of [                      ] Dollars
(which amount may from time to time be increased or decreased to such other principal amounts
(which, taken together with the principal amounts of all other outstanding Notes, shall not, unless
permitted by the Indenture, exceed $[                 ] in aggregate at any time) by adjustments made
on the records of the Trustee as set forth in Schedule B hereto, as Custodian of the Depositary, in
accordance with the rules and procedures of the Depositary) on May 15, 2014.

     The Notes bear interest at the rate of [      ]% per year from the date of original issuance of
the Notes, or from the most recent date to which interest had been paid or provided for to, but
excluding, the next scheduled Interest Payment Date. Interest is payable semi-annually in arrears
on each May 15 and November 15, commencing November 15, 2007, to holders of record at the close of
business on the preceding May 1 and November 1, respectively.

     Payment of the principal of and interest accrued on this Note shall be made at the office or
agency of the Company maintained for that purpose in the Borough of Manhattan, The City of New
York, or, at the option of the holder of this Note, at the Corporate Trust Office, in such lawful
money of the United States of America as at the time of payment shall be legal tender for the
payment of public and private debts; provided, however, interest may be paid by check mailed to
such holder’s address as it appears in the Note register; provided further, however, that, with
respect to any Noteholder with an aggregate principal amount equal to or in excess of $2,000,000,
at the request of such holder in writing to the Company, interest on such holder’s Notes shall be
paid by wire transfer in immediately available funds in accordance with the written wire transfer
instruction supplied by such holder from time to time to the Trustee and Paying Agent (if different
from the Trustee) at least two days prior to the applicable record date; provided that any payment
to the Depositary or its nominee shall be paid by wire transfer in immediately available funds in
accordance with the wire transfer instruction supplied by the Depositary or its nominee from time
to time to the Trustee and Paying Agent (if different from Trustee) at least two days prior to the
applicable record date.

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     Reference is made to the further provisions of this Note set forth on the reverse hereof,
including, without limitation, provisions subordinating the payment of principal of this Note to
the prior payment in full of all Senior Indebtedness as defined in the Indenture and provisions
giving the holder of this Note the right to convert this Note into cash and Common Stock of the
Company on the terms and subject to the limitations referred to on the reverse hereof and as more
fully specified in the Indenture. Such further provisions shall for all purposes have the same
effect as though fully set forth at this place.

     This Note shall be deemed to be a contract made under the laws of the State of New York, and
for all purposes shall be construed in accordance with and governed by the laws of said State
(without regard to the conflicts of laws provisions thereof).

     This Note shall not be valid or become obligatory for any purpose until the certificate of
authentication hereon shall have been manually signed by the Trustee or a duly authorized
authenticating agent under the Indenture.

[Remainder of page intentionally left blank]

A-3

 

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

	 	 	 	 	 
	 	LIFEPOINT HOSPITALS, INC.

 	 
	 	By:  	 
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	 
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

THE BANK OF NEW YORK TRUST COMPANY, N.A.,

as Trustee, certifies that this is one of the Notes described

in the within-named Indenture.

	 	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Authorized Officer
	 	 

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[FORM OF REVERSE OF NOTE]

LIFEPOINT HOSPITALS, INC.

[       ]% Convertible Senior Subordinated Notes due 2014

     This Note is one of a duly authorized issue of Notes of the Company, designated as its [      ]%
Convertible Senior Subordinated Notes due 2014 (herein called the “Notes”), limited to the
aggregate principal amount of $[                ] all issued or to be issued under and pursuant to an
Indenture dated as of May [      ], 2007 (herein called the “Indenture”), between the Company and The
Bank of New York Trust Company, N.A. (herein called the “Trustee”), to which Indenture and all
indentures supplemental thereto reference is hereby made 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. Additional Notes may be issued in an unlimited aggregate principal
amount, subject to certain conditions specified in the Indenture.

     In case an Event of Default, as defined in the Indenture, shall have occurred and be
continuing, the principal of, and accrued and unpaid interest on all Notes may be declared, and
upon said declaration shall become, due and payable, in the manner, with the effect and subject to
the conditions provided in the Indenture.

     Subject to the terms and conditions of the Indenture, the Company will make all payments and
deliveries in respect of the Fundamental Change Repurchase Price and the principal amount on the
maturity date, as the case may be, to the holder who surrenders a Note to a Paying Agent to collect
such payments in respect of the Note. The Company will pay cash amounts in money of the United
States that at the time of payment is legal tender for payment of public and private debts.

     The Indenture contains provisions permitting the Company and the Trustee in certain
circumstances, without the consent of the holders of the Notes, and in other circumstances, with
the consent of the holders of not less than a majority in aggregate principal amount of the Notes
at the time outstanding, evidenced as in the Indenture provided, to execute supplemental indentures
adding any provisions to or changing in any manner or eliminating any of the provisions of the
Indenture or of any supplemental indenture or modifying in any manner the rights of the holders of
the Notes; provided, however, that no such supplemental indenture shall make any of the changes set
forth in Section 11.02 of the Indenture, without the consent of the holders of all Notes then
outstanding. It is also provided in the Indenture that, prior to any declaration accelerating the
maturity of the Notes, the holders of a majority in aggregate principal amount of the Notes at the
time outstanding may on behalf of the holders of all of the Notes

A-5

 

waive any past default or Event of Default under the Indenture and its consequences except as
provided in the Indenture. Any such consent or waiver by the holder of this Note (unless revoked
as provided in the Indenture) shall be conclusive and binding upon such holder and upon all future
holders and owners of this Note and any Notes which may be issued in exchange or substitution
hereof, irrespective of whether or not any notation thereof is made upon this Note or such other
Notes.

     The indebtedness evidenced by the Note is, to the extent and in the manner provided in the
Indenture, expressly subordinate and subject in right of payment to the prior payment in full in
cash or other payment satisfactory to the holders of Senior Indebtedness of all Senior Indebtedness
of the Company, as defined in the Indenture, whether outstanding at the date of the Indenture or
thereafter incurred, and this Note is issued subject to the provisions of the Indenture with
respect to such subordination. Each holder of this Note, by accepting the same, agrees to and
shall be bound by such provisions and authorizes the Trustee on his behalf to take such action as
may be necessary or appropriate to effectuate the subordination so provided and appoints the
Trustee his attorney in fact for such purpose.

     No reference herein to the Indenture and no provision of this Note or of the Indenture shall
alter or impair the obligation of the Company, which is absolute and unconditional, to pay the
principal of, and accrued and unpaid interest on this Note at the place, at the respective times,
at the rate and in the lawful money herein prescribed.

     The Notes are issuable in registered form without coupons in denominations of $1,000 principal
amount and integral multiples thereof. At the office or agency of the Company referred to on the
face hereof, and in the manner and subject to the limitations provided in the Indenture, without
payment of any service charge but with payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in connection with any registration or exchange of Notes,
Notes may be exchanged for a like aggregate principal amount of Notes of other authorized
denominations.

     Upon the occurrence of a “Fundamental Change,” the holder has the right, at such holder’s
option, to require the Company to repurchase all of such holder’s Notes or any portion thereof (in
principal amounts of $1,000 or integral multiples thereof) on the Fundamental Change Purchase Date
at a price equal to 100% of the principal amount of the Notes such holder elects to require the
Company to repurchase, together with accrued and unpaid interest, to but excluding the date fixed
for repurchase. The Company or, at the written request of the Company, the Trustee shall mail to
all holders of record of the Notes a notice of the occurrence of a Fundamental Change and of the
repurchase right arising as a result thereof on

A-6

 

or before the fifteenth calendar day after the occurrence of such Fundamental Change.

     Subject to the provisions of the Indenture, the holder hereof has the right, at its option, on
and after March 15, 2014, or earlier upon the occurrence of certain conditions specified in the
Indenture and prior to the close of business on the business day immediately preceding the maturity
date, to convert any Notes or portion thereof which is $1,000 or an integral multiple thereof, into
cash and, if applicable, shares of Common Stock, in each case at a Conversion Rate specified in the
Indenture, as adjusted from time to time as provided in the Indenture, upon surrender of this Note,
together with a conversion notice as provided in the Indenture and this Note, to the Company at the
office or agency of the Company maintained for that purpose in the Borough of Manhattan, The City
of New York, or at the option of such holder, the Corporate Trust Office, and, unless the shares
issuable on conversion are to be issued in the same name as this Note, duly endorsed by, or
accompanied by instruments of transfer in form satisfactory to the Company duly executed by, the
holder or by his duly authorized attorney. The initial Conversion Rate shall be [ ] shares for
each $1,000 principal amount of Notes. No fractional shares of Common Stock will be issued upon
any conversion, but an adjustment in cash will be paid to the holder, as provided in the Indenture,
in respect of any fraction of a share which would otherwise be issuable upon the surrender of any
Note or Notes for conversion. No adjustment shall be made for dividends or any shares issued upon
conversion of such Note except as provided in the Indenture.

     Upon due presentment for registration of transfer of this Note at the office or agency of the
Company in the Borough of Manhattan, The City of New York, a new Note or Notes of authorized
denominations for an equal aggregate principal amount will be issued to the transferee in exchange
thereof, subject to the limitations provided in the Indenture, without charge except for any tax,
assessments or other governmental charge imposed in connection therewith.

     The Company, the Trustee, any authenticating agent, any Paying Agent, any Conversion Agent and
any Note registrar may deem and treat the registered holder hereof as the absolute owner of this
Note (whether or not this Note shall be overdue and notwithstanding any notation of ownership or
other writing hereon), for the purpose of receiving payment hereof, or on account hereof, for the
conversion hereof and for all other purposes, and neither the Company nor the Trustee nor any other
authenticating agent nor any Paying Agent nor any other Conversion Agent nor any Note registrar
shall be affected by any notice to the contrary. Notwithstanding the foregoing, the Indenture
provides that following an event which, after notice or passage of time or both, would become a
Default, owners of beneficial interests in a Global Note may directly enforce against the Company
such owners’ right to exchange such beneficial interest for Notes in

A-7

 

certificated form. All payments made to or upon the order of such registered holder shall, to
the extent of the sum or sums paid, satisfy and discharge liability for monies payable on this
Note.

     No recourse for the payment of the principal of, or accrued and unpaid interest on this Note,
or for any claim based hereon or otherwise in respect hereof, and no recourse under or upon any
obligation, covenant or agreement of the Company in the Indenture or any indenture supplemental
thereto or in any Note, or because of the creation of any indebtedness represented thereby, shall
be had against any incorporator, stockholder, employee, agent, officer, director or subsidiary, as
such, past, present or future, of the Company or of any successor corporation, either directly or
through the Company or any 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 issue hereof, expressly
waived and released.

     Terms used in this Note and defined in the Indenture are used herein as therein defined.

A-8

 

ABBREVIATIONS

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

	 	 	 	 	 
	TEN COM — as tenants in common	 	UNIF GIFT MIN ACT
	 
	 	 	 	 
	 

	 	 	 	Custodian
	 

	 	 	 	 
	 

	 	(Cust)	 	 
	 
	 	 	 	 
	TEN ENT — as tenants by the entireties
	 	 	 	 
	 
	 	 	 	 
	 

	 	 

(Minor)
	 	 

			
	 	 	 
	JT TEN  — as joint tenants with right of	 	 
	survivorship and not as tenants in common
	 	Uniform Gifts to Minors Act ___(State)

Additional abbreviations may also be used

though not in the above list.

A-9

 

EXHIBIT B

[FORM OF CONVERSION NOTICE]

     To: LifePoint Hospitals, Inc.

     The undersigned registered owner of this Note hereby irrevocably (subject to revocation as set
forth in the Indenture) exercises the option to convert this Note, or the portion hereof (which is
$1,000 principal amount or an integral multiple thereof) below designated, into cash and shares of
Common Stock, if any, in accordance with the terms of the Indenture referred to in this Note, and
directs that the shares issuable and deliverable upon such conversion, if any, together with any
check in payment of the Principal Return (as defined in the Indenture) and for fractional shares
and any Notes representing any unconverted principal amount hereof, be issued and delivered to the
registered holder hereof unless a different name has been indicated below. If shares or any
portion of this Note not converted are to be issued in the name of a person other than the
undersigned, the undersigned will pay all transfer taxes payable with respect thereto. Any amount
required to be paid to the undersigned on account of interest accompanies this Note.

	 	 	 	 	 
	Dated:
	 	 	 	 
	 

	 	 

	 	 
	 
	 	 	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	 	 	 
	 

	 	 	 	Signature(s)

Signature Guarantee

Signature(s) must be guaranteed

by an eligible Guarantor Institution

(banks, stock brokers, savings and

loan associations and credit unions)

with membership in an approved

signature guarantee medallion program

pursuant to Securities and Exchange

Commission Rule 17Ad-15 if shares

of Common Stock are to be issued, or

Notes to be delivered, other than

to and in the name of the registered holder.

B-1

 

Fill in for registration of shares if

to be issued, and Notes if to

be delivered, other than to and in the

name of the registered holder:

                        

(Name)

                                        

(Street Address)

                                                            

(City, State and Zip Code)

Please print name and address

Principal amount to be converted 
(if
less than all): $___,000

                                                                

Social Security or Other Taxpayer

Identification Number

B-2

 

EXHIBIT C

[FORM OF OPTION TO ELECT REPAYMENT

UPON A FUNDAMENTAL CHANGE]

To: LifePoint Hospitals, Inc.

The undersigned registered owner of this Note hereby acknowledges receipt of a notice from
LifePoint Hospitals, Inc. (the “Company”) as to the occurrence of a Fundamental Change with respect
to the Company and requests and instructs the Company to repay the entire principal amount of this
Note, or the portion thereof (which is $1,000 principal amount or an integral multiple thereof)
below designated, in accordance with the terms of the Indenture referred to in this Note, together
with accrued and unpaid interest, if any, to, but excluding, such date, to the registered holder
hereof.

	 	 	 	 	 	 	 
	Dated:
	 	 	 	 	 	 
	 

	 	 

	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	Signature(s)
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	Social Security or Other Taxpayer

Identification Number
Principal amount to be repaid (if less
than all): $___,000
	 

	 	 	 	 	 	NOTICE: The above signatures of the holder(s) hereof must correspond with the name as written upon
the face of the Note in every particular without alteration or enlargement or any change
whatever.

C-1

 

SCHEDULE A

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Conversion	 	Applicable Price
	Date	 	$	 	$	 	$	 	$	 	$	 	$	 	$	 	$	 	$	 	$
	 
	5/[     ]/07
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	5/15/08
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	5/15/09
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	5/15/10
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	5/15/11
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	5/15/12
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	5/15/13
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	5/14/14
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

A-1

 

SCHEDULE B

LIFEPOINT HOSPITALS, INC.

[     ]% Convertible Senior Subordinated Notes Due 2014

No. _______

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Authorized Signature	 
	 	 	 	 	 	 	Notation Explaining Principal	 	 	of Trustee or	 
	Date	 	Principal Amount	 	 	Amount Recorded	 	 	Custodian	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 

B-1exv10w1

 

Exhibit 10.1

Second Amendment

To

Severance Agreement

     WHEREAS, Goodrich Petroleum Corporation (the “Company”) and Walter G. Goodrich (the
“Executive”) have entered into (i) that certain Severance Agreement dated effective as of April 25,
2003 (the “Agreement”); and (ii) that certain First Amendment to Severance Agreement effective as
of April 11, 2007; and

WHEREAS, the parties desire to amend the Agreement as provided herein;

     NOW, THEREFORE, for good and valuable consideration, which the parties hereby acknowledge, the
Agreement is amended by adding thereto the following:

     “Change in Duties” shall mean the occurrence, on or within 18 months after the date upon which
a Change of Control occurs, of any one or more of the following:

     (1) a reduction in the duties or responsibilities of a Covered Executive from those applicable
to him immediately prior to the date on which the Change of Control occurs;

     (2) a reduction in a Covered Executive’s current Annual Rate of Total Compensation; or

     (3) a change in the location of a Covered Executive’s principal place of employment by more
than 25 miles from the location where he was principally employed immediately prior to the date on
which the Change of Control occurs, unless such relocation is agreed to in writing by the Covered
Executive; provided, however, that a relocation scheduled prior to the date of the Change of
Control shall not constitute a Change in Duties.

     IN WITNESS WHEREOF, the undersigned have executed this First Amendment, effective for all
purposes as of May 17, 2007.

	 	 	 	 	 
	 	GOODRICH PETROLEUM CORPORATION

 	 
	 	By:  	/s/ Pat E. Malloy, III
 	 
	 	 	Title:  Chairman of the Board 	 
	 	 	 	 
	 
	 	 	 
	 	     /s/ Walter G. Goodrich

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