Document:

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                                                                               1

                                    FROM THE

                STATE OF RHODE ISLAND AND PROVIDENCE PLANTATIONS

                   DEPARTMENT OF CHILDREN, YOUTH AND FAMILIES

                                       TO

                                NETWORK SIX, INC.
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                                                                               2

                                    AGREEMENT

This agreement, including attached addenda, is hereby entered into as of the
first day of December, 1999, by and between the Rhode Island Department of
Children, Youth and Families, hereinafter referred to as the DEPARTMENT, and
Network Six, Inc. hereinafter referred to as the PROVIDER.

Whereas, the DEPARTMENT desires to engage the PROVIDER to offer services and
activities further described in ADDENDUM I - PROGRAM. Now, therefore, the
parties hereto do mutually agree as follows:

PAR. 1. PERFORMANCE

         The PROVIDER shall in a satisfactory manner, perform all obligations
         and duties as contained in ADDENDUM I - PROGRAM, hereby incorporated by
         reference into this agreement. Disputes concerning PROVIDER'S
         performance shall be addressed according to the procedure defined in
         Par. 19 - Settlement of Disputes.

PAR. 2. TIME OF PERFORMANCE

         The PROVIDER shall commence performance of this Agreement on the first
         day of February 2000, and shall complete performance no later than the
         thirty-first day of January 2001, unless terminated prior to that date
         by other provisions of this Agreement. This Agreement may, at the sole
         discretion of the Department, be extended for a period of one to two
         years upon 120 days prior written notice to the PROVIDER. In the event
         that the Department so elects to extend this Agreement, the PROVIDER
         shall identify, not later than 90 (ninety) days prior to the expiration
         of year one (1) of the Agreement, those personnel who the

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         PROVIDER will assign to the project during the extension and shall
         retain said personnel on this project throughout the extension.

PAR. 3. BUDGET

         Total payment for services provided under this Agreement shall not
         exceed $1,495,000.00 for the period February 1, 2000 through January
         31, 2001, unless there have been changes pursuant to PAR. 7 hereof, as
         detailed in the budget attached hereto and incorporated by reference in
         ADDENDUM II - BUDGET. Expenditures exceeding budgeted line-item
         categories by ten (10%) shall not be authorized unless prior written
         approval is first obtained pursuant to PAR. 7. - CHANGES of this
         Agreement, subject to the maximum amount of this Agreement as above
         stated.

PAR. 4. METHOD OF PAYMENTS AND REPORTS

         The DEPARTMENT will make payment to the PROVIDER in accordance with
         provisions of ADDENDUM III - PAYMENTS AND REPORTS SCHEDULE attached
         hereto. The PROVIDER will complete and forward narrative and fiscal
         reports as per ADDENDUM III - PAYMENTS AND REPORTS SCHEDULE.

PAR. 5. TERMINATION OF AGREEMENT

         This Contract shall be subject to termination under any of the
         following conditions:

         a. MUTUAL AGREEMENT

            The contracting parties mutually agree in writing to termination.
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         b. DEFAULT  BY PROVIDER

            The Rhode Island Department of Children, Youth and Families may, by
            ninety (90) days prior written notice to the PROVIDER signed by the
            Chief, Program Development, Contracts and Standards, (hereinafter,
            "the Chief") terminate the PROVIDER'S right to proceed as to the
            contract if the PROVIDER:

            1.  materially fails to perform the services within the time
                specified or any extension thereof, or

            2.  so fails to make progress as to materially endanger performance
                of the contract in accordance with its terms.

            Termination, at the option of the DEPARTMENT shall be effective
            ninety (90) days after receipt of such notice, unless the PROVIDER
            shall have corrected such failure(s) thirty (30) days after the
            receipt by the PROVIDER of such written notice; any failure which,
            in the exercise of due diligence, cannot be cured within such thirty
            (30) day period shall not be deemed a default so long as the
            PROVIDER shall within such period commence and thereafter continue
            diligently to cure such failure. None of the provisions of this
            Agreement shall entitle the DEPARTMENT to incidental or
            consequential damages.

         c. TERMINATION IN THE INTEREST OF THE DEPARTMENT OF CHILDREN, YOUTH AND
            FAMILIES

            The Chief, by ninety (90) days prior written notice, may terminate
            performance of work under this contract when it is in the best
            interest of the Rhode Island Department of Children, Youth and
            Families to do so. In
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            the event of such termination, the PROVIDER will be compensated for
            all worked performed prior to such termination date.

         d. DEFAULT BY THE DEPARTMENT OF CHILDREN, YOUTH AND FAMILIES

            This contract may be terminated by the PROVIDER, for cause, upon the
            failure of the Rhode Island Department of Children, Youth and
            Families to perform any material provision required of it by the
            contract (including providing office space, computer equipment and
            the co-operation of the DEPARTMENT's personnel) provided the
            PROVIDER shall give the Chief at least ninety (90) days prior
            written notice. Termination, at the option of the PROVIDER shall be
            effective ninety (90) days after receipt of such notice, unless the
            Rhode Island Department of Children, Youth and Families shall have
            corrected such failure(s) thirty (30) days after the receipt by the
            Chief of such written notice; any failure which, in the exercise of
            due diligence, cannot be cured within such thirty (30) day period
            shall not be deemed a default so long as the Rhode Island Department
            of Children, Youth and Families shall within such period commence
            and thereafter continue diligently to cure such failure.
            Notwithstanding the above, there shall not be a cure period for
            non-payment in accordance with the terms hereof, and the PROVIDER
            may terminate this Agreement at any time that the DEPARTMENT is more
            than fifteen (15) days delinquent with respect to such payment.
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         e. AVAILABILITY OF FUNDS

            It is understood and agreed by the parties hereto that all
            obligations of the Rhode Island Department of Children, Youth and
            Families, including the continuance of payments hereunder, are
            contingent upon the availability and continued appropriation of
            State and Federal funds, and in no event shall the Rhode Island
            Department of Children, Youth and Families be liable for any
            payments hereunder in excess of such available and appropriated
            funds. In the event that the amount of any available or appropriated
            funds provided by the State or Federal sources for the purchase of
            services hereunder shall be reduced, terminated or shall not be
            continued at an aggregate level sufficient to allow for the purchase
            of the specified amount of services to be purchased hereunder for
            any reason whatsoever, the Rhode Island Department of Children,
            Youth and Families shall notify the PROVIDER of such reduction of
            funds available and the Rhode Island Department of Children, Youth
            and Families shall be entitled to reduce its commitment hereunder as
            it deems necessary, but shall be obligated for payments due to the
            PROVIDER up to the time of such notice. None of the provisions of
            this paragraph shall entitle the PROVIDER to compensation for
            anticipated profits for unperformed work.

PAR. 6. RESPONSIBILITIES UPON TERMINATION

         Upon termination or expiration of the contract, the PROVIDER, shall, if
         requested by the Chief at least ninety (90) days prior to such
         termination or expiration, provide reasonable training for the Rhode
         Island Department of Children, Youth
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         and Families' personnel and/or continued performance of the services
         specified herein for up to six (6) additional thirty (30) day periods
         commencing with the date of termination or expiration and continuing
         until given thirty days notice by the Chief to discontinue such
         training and/or services. For providing such training or continued
         performance after the term of the contract, the Rhode Island Department
         of Children, Youth and Families shall pay the PROVIDER at mutually
         agreed rates for personnel and supplies used in providing such training
         and/or services unless services delivered are already defined herein
         and rates established then such rates shall apply for periods within
         the term of the contract.

PAR. 7. CHANGES

         The DEPARTMENT and the PROVIDER may agree to changes in the scope of
         services, time of performance, or approved budget of the PROVIDER to be
         performed hereunder. Such changes, which are mutually agreed upon by
         the DEPARTMENT and PROVIDER, must be in writing and shall be made part
         of the Agreement by numerically consecutive amendment.

PAR. 8. SUBCONTRACTS

         It is expressly agreed that any subcontract to perform the services
         listed in ADDENDUM 1 - PROGRAM or any other obligations to be performed
         by the PROVIDER pursuant to this Agreement shall only be entered into
         with the written approval of the Department. Such approval shall not be
         unreasonably withheld.
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PAR. 9. NONLIABILITY FOR INJURIES

         The PROVIDER will hold the State of Rhode Island and its officials
         harmless against claims for injuries of any kind which the staff of the
         PROVIDER may suffer directly or may cause to be suffered by any staff
         person or persons in the performance of this contract, unless caused by
         the willful misconduct or gross negligence of the DEPARTMENT.

PAR. 10. NONDISCRIMINATION IN EMPLOYMENT AND SEVICES

         The PROVIDER agrees to comply with the requirements of Title VI of the
         Civil Rights Act of 1964 (42 USC 2000d et seq.); Section 504 of the
         Rehabilitation Act of 1973, as amended (29 USC 794); Title IX of the
         Education Amendments of 1972 (20 USC 1681 et seq.); the United States
         Department of Health and Human Services Regulations found in 45 CFR,
         parts 80 and 84; and the United States Department of Education
         Implementing Regulations (34 CFR, Parts 104 and 106); which prohibit
         discrimination on the basis of race, color, national origin, handicap,
         or sex, in acceptance for or provision of services, employment, or
         treatment in educational or other programs or actives.

         The PROVIDER acknowledges receipt OF ADDENDUM V - NOTICE TO DEPARTMENT
         OF CHILDREN, YOUTH AND FAMILIES SERVICE PROVIDERS OF THEIR
         RESPONSIBILITIES UNDER TITLE VI OF THE CIVIL RIGHTS ACT OF 1964 and
         ADDENDUM VI - NOTICE TO DEPARTMENT OF CHILDREN, YOUTH AND FAMILIES
         SERVICE PROVIDERS OF THEIR RESPONSIBILITIES UNDER SECTION 504 OF THE
         REHABILITATION ACT OF 1973 incorporated herein by reference and made
         part by this Agreement.
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         The PROVIDER agrees to comply with all other provisions applicable to
         law, including the Governor's Executive Order No. 85-11, which
         prohibits discrimination on the basis of race, color, religion, sex,
         age, national origin, political belief, sexual preference, or handicap.
         The PROVIDER also agrees to comply with the requirements of the
         Department of Children, Youth and Families for safeguarding of client
         information.

         Failure to comply with this item may be the basis for cancellation of
         this Agreement in accordance with PAR. 5 (b) hereof.

PAR. 11. ASSIGNABILITY

         The PROVIDER shall not assign any interest in this Agreement (whether
         by assignment or novation) without prior written consent of the
         DEPARTMENT thereto; PROVIDED, HOWEVER, that claims or money due or to
         become due to the PROVIDER from the DEPARTMENT under this Agreement may
         be assigned to a bank, trust company, or other financial institution
         without such approval. Notice of any such assignment or transfer shall
         be furnished promptly to the DEPARTMENT.

PAR. 12. COPYRIGHTS

         The PROVIDER is free to copyright any books, publications, or other
         copyrightable materials developed in the course of or under this
         agreement, but the DEPARTMENT shall reserve a royalty-free,
         nonexclusive, and irrevocable right to reproduce, publish, or otherwise
         use, and authorize others to use, the work for government purposes.
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PAR. 13. GOVERNING LAW

         This Agreement is deemed executed and delivered in the City of
         Providence, State of Rhode Island, and all questions arising out of our
         under this Agreement shall be governed by the laws of the State of
         Rhode Island.

PAR. 14. PARTNERSHIP

         It is understood and agreed that nothing herein is intended or should
         be construed in any manner as creating or establishing the legal
         relation of partnership between the parties hereto, or as constituting
         the employees, agents, or representatives of the PROVIDER or the
         DEPARTMENT included in this Agreement as employees, agents, or
         representatives of the other.

PAR. 15. ACCESSIBILITY AND RETENTION OF RECORDS

         The PROVIDER agrees to make accessible and to maintain all fiscal and
         activity records relating to this Agreement to State and/or Federal
         officials. This is also intended to included any auditing, monitoring,
         and evaluation procedures, including on-site visits, performed
         individually or jointly, by State or Federal officials or their agents.
         If such records are maintained outside of the State of Rhode Island,
         such records shall be made accessible by the PROVIDER at a Rhode Island
         location. Minutes of the Board of Directors meetings, fiscal records,
         and narrative records pertaining to activities performed will be
         retained for audit purposes for a period of at least three (3) years
         following the submission of the final expenditure report for this
         Agreement or, if an audit is in process and audit findings have not
         been received at the end of the three (3) years, the records shall be
         retained until resolution of the audit findings are made.
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PAR. 16. SEVERABILITY

         If any provision of this Agreement is held invalid, the remainder of
         this Agreement shall not be affected thereby if such remainder would
         then continue to conform to the terms and requirements of applicable
         law.

PAR. 17. DRUG FREE WORK PLACE POLICY

         The PROVIDER agrees to comply with the requirements of the Governor's
         Executive Order No. 98-14 and the Federal Anti-Drug Abuse Act of 1988.
         As a condition of contracting with the State of Rhode Island, the
         PROVIDE hereby agrees to abide BY ADDENDUM VII - THE STATE'S DRUG FREE
         WORK PLACE POLICY, and in accordance therewith has executed ADDENDUM
         VII - DRUG FREE WORK PLACE POLICY CONTRACTOR CERTIFICATE OF COMPLIANCE.

         Furthermore, the PROVIDER agrees to submit to DCYF any report or forms
         which may from time-to-time be required to determine the PROVIDER'S
         compliance with this policy.

         The PROVIDER acknowledges that a violation by the PROVIDER of the Drug
         Free Work Place Policy which is not responded to by the PROVIDER in
         accordance with the provisions of said Policy, may, at DCYF option,
         result in the termination this Agreement in accordance with PAR. 5 (b)
         hereof.
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PAR. 18. ATTACHMENTS

         Attached hereto and made part of this Agreement are the following
         Addenda:

         ADDENDUM          I.               Program

         ADDENDUM          II.              Budget

         ADDENDUM          III.             Payments and Reports Schedule

         ADDENDUM          IV.              N/A

         ADDENDUM          V.               Notice to Department of Children,
                                            Youth and Families Service Providers
                                            of the Responsibilities under Title
                                            VI of the Civil Rights Act of 1964

         ADDENDUM          VI.              Notice to Department of Children,
                                            Youth and Families Service Providers
                                            of their Responsibilities under
                                            Section 504 of the Rehabilitation
                                            Act of 1973

         ADDENDUM          VII.             Drug Free Work Place Policy

         ADDENDUM          VIII.            Contractor Certificate of Compliance

PAR. 19. SETTLEMENT OF DISPUTES

         Any dispute concerning this Agreement shall be decided by the following
         process:

         Step 1 - The DEPARTMENT'S Chief of Management Information Systems and
                  the PROVIDER'S  Project Manager will attempt to resolve the
                  issue at hand.
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         Step 2 - If the Step 1 process does not result in a resolution within
                  seven (7) days, then the issue shall be resolved by a
                  Committee of three consisting of the Executive Director for
                  Administration, the President of the PROVIDER, and a mutually
                  agreed to third party.

         The Committee's decision shall be final and conclusive subject only to
         whatever rights, if any, the PROVIDER may have pursuant to Rhode Island
         law. If the Committee is unable to make a decision within fifteen (15)
         days, both parties may pursue their rights under law.

PAR. 20. WORK REVIEWS

         The PROVIDER agrees that all work performed under this agreement may be
         reviewed by the Office of Information Processing, Department of
         Administration, State of Rhode Island, and by any third party
         designated by the Department.

PAR. 21.  FORCE MAJEURE

         The PROVIDER shall not be liable for any damages if the failure to
         perform this Agreement arises out of causes beyond the control and
         without the fault or negligence of the PROVIDER. Such causes may
         include, but are not restricted to, acts of God, actions or inactions
         of the DEPARTMENT, floods, epidemics, fire, quarantine restrictions,
         strikes, labor shortages, freight embargoes, unusually severe weather
         and failure of the DEPARTMENT to pay the PROVIDER when payments are due
         for services performed hereunder; but in every case the failure to
         perform must be beyond the control and without substantial fault or
         negligence of the PROVIDER. When such a cause arises, the PROVIDER
         shall notify the DEPARTMENT immediately in writing of
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         the impracticability and how it affects performance, and the
         anticipated duration of the inability to perform.

IN WITNESS WHEREOF, THE PARTIES HERETO HAVE HEREUNDER SET THEIR HANDS AS OF THE
DATE FIRST ABOVE WRITTEN AND THE AGREEMENT MADE LEGALLY BINDING AS FOLLOWS:

WITNESS:    /s/ Donna J. Guido              BY:     /s/ Kenneth C. Kirsch
          -----------------------               -------------------------
          (SIGNATURE)                           CHAIR OR AUTHORIZED
                                                AGENT/SIGNATURE PROVIDER

                                                Kenneth C. Kirsch

          /s/ Donna J. Guido
          -----------------------               --------------------------------
          (TYPE OR PRINT NAME)                  (TYPE OR PRINT NAME)

WITNESS: /s/ Leon E. Saunders                   /s/ Jay Lindgren
         ---------------------------            --------------------------------
         (SIGNATURE)                            (DEPARTMENT OF CHILDREN,
                                                YOUTH AND FAMILIES)

         /s/ Leon E. Saunders
         --------------------------
         (TYPE OR PRINT NAME)

WITNESS: ______________________                      __________________________
         (SIGNATURE)                                 (DEPARTMENT OF
                                                     ADMINISTRATION)

         _________________________
         (TYPE OR PRINT NAME HERE)
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AGREEMENT NO.

                                   ADDENDUM I

                                     PROGRAM

NETWORK SIX, INC. PROPOSAL DATED OCTOBER 13, 1999, SUBMITTED TO OFFICE OF
PURCHASING, DEPARTMENT OF ADMINISTRATION IN RESPONSE TO RFP #2770. SAID PROPOSAL
IS INCORPORATED HEREIN BY REFERENCE AS IF FULLY SET FORTH HEREIN. ADDITIONALLY,
RFP # 2770 IS INCORPORATED HEREIN BY REFERENCE AS IF FULLY SET FORTH HEREIN. IN
THE EVENT THAT THERE IS A CONFLICT BETWEEN ANY PROVISION OF RFP # 2770 AND A
PROVISION OF THE NETWORK SIX, INC. PROPOSAL, THE LANGUAGE OF RFP #2770 SHALL
PREVAIL. IN THE EVENT THAT THERE IS A CONFLICT BETWEEN THIS AGREEMENT AND THE
PROPOSAL OR THE RFP, THE LANGUAGE OF THIS AGREEMENT SHALL PREVAIL.
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                                  ADDENDUM II

                                     BUDGET
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                                  ADDENDUM III

                          PAYMENTS AND REPORTS SCHEDULE

1.       Within twenty (20) working days after the termination of this
         Agreement, the PROVIDER will submit an annual written report
         summarizing accomplishments of goals and objectives as outlined in
         ADDENDUM I - PROGRAM.

2.       Payments under this Agreement will be made monthly upon submission of
         the appropriate documentation. Terms are net thirty (30) days.

3.       Narrative and fiscal reports shall be sent to:

                   Department of Children, Youth and Families
                               Contract Management
                               Mt. Pleasant Avenue
                               Providence, RI 02920

4.       All reports are due ten (10) working days after the end of the
         reporting period. Material failure to provide required reports and data
         within the prescribed time frame may result in a delay of payment or
         the withholding of funds to the PROVIDER.
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                                   ADDENDUM V

             RHODE ISLAND DEPARTMENT OF CHILDREN, YOUTH AND FAMILIES

          NOTICE TO DEPARTMENT OF CHILDREN, YOUTH AND FAMILIES SERVICE
                               PROVIDERS OF THEIR
         RESPONSIBILITIES UNDER TITLE VI OF THE CIVIL RIGHTS ACT OF 1964

PUBLIC AND PRIVATE AGENCIES, ORGANIZATION, INSTITUTIONS, AND PERSONS THAT
RECEIVE FEDERAL FINANCIAL ASSISTANCE THROUGH THE DEPARTMENT OF CHILDREN, YOUTH
AND FAMILIES (DCYF) ARE SUBJECT TO THE REVISION OF TITLE VI OF THE CIVIL RIGHTS
ACT OF 1964 AND THE IMPLEMENTING REGULATIONS OF THE UNITED STATED DEPARTMENT OF
HEALTH AND HUMAN SERVICES (DHHS), WHICH IS LOCATED AT 45 CFR, PART 80. DCYF
CONTRACTS WITH SERVICE PROVIDERS INCLUDE A PROVIDER'S ASSURANCE THAT IN
COMPLIANCE WITH TITLE VI AND THE IMPLEMENTING REGULATIONS, NO PERSON SHALL BE
EXCLUDED FROM PARTICIPATION IN, DENIED THE BENEFITS OF, OR BE OTHERWISE
SUBJECTED TO DISCRIMINATION IN ITS PROGRAMS AND ACTIVITIES ON THE GROUNDS OF
RACE, COLOR, OR NATIONAL ORIGIN.

IN FISCAL YEAR 1983, DCYF BEGAN TO REVIEW ITS SERVICE PROVIDERS TO ASSURE THAT
THEY ARE COMPLYING WITH THESE REQUIREMENTS.

IT IS THE RESPONSIBILITY OF EACH SERVICE PROVIDER TO ACQUAINT ITSELF WITH ALL OF
THE PROVISIONS OF THE TITLE VI REGULATIONS. A COPY OF THE REGULATIONS IS
AVAILABLE UPON REQUEST FOR THE COMMUNITY RELATIONS LIAISON OFFICER, DEPARTMENT
OF CHILDREN, YOUTH AND FAMILIES, MT. PLEASANT AVENUE, PROVIDENCE, RI, 02903;
TELEPHONE: (401) 457-4810.

THE REGULATIONS ADDRESS THE FOLLOWING TOPICS:

SECTION:

80.1        PURPOSE
80.2        APPLICATION OF THIS REGULATION
80.3        DISCRIMINATION PROHIBITED
80.4        ASSURANCES REQUIRED
80.5        ILLUSTRATIVE APPLICATIONS
80.6        COMPLIANCE INFORMATION
80.7        CONDUCT OF INVESTIGATIONS
80.8        PROCEDURE FOR EFFECTING COMPLIANCE
80.9        HEARINGS
80.10       DECISIONS AND NOTICES
80.11       JUDICIAL REVIEW
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80.12       EFFECT ON OTHER REGULATIONS; FORMS AND INSTRUCTIONS
80.13       DEFINITION
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                                   ADDENDUM VI

             RHODE ISLAND DEPARTMENT OF CHILDREN, YOUTH AND FAMILIES

          NOTICE TO DEPARTMENT OF CHILDREN, YOUTH AND FAMILIES SERVICE
                               PROVIDERS OF THEIR
      RESPONSIBILITIES UNDER SECTION 504 OF THE REHABILITATION ACT OF 1973

PUBLIC AND PRIVATE AGENCIES, ORGANIZATIONS, INSTITUTIONS, AND PERSONS THAT
RECEIVE FEDERAL FINANCIAL ASSISTANCE THROUGH THE DEPARTMENT OF CHILDREN, YOUTH
AND FAMILIES (DCYF) ARE SUBJECT TO THE PROVISIONS OF SECTION 504 OF THE
REHABILITATION ACT OF 1973 AND THE IMPLEMENTING REGULATIONS OF THE UNTIED STATES
DEPARTMENT OF HEALTH AND HUMAN SERVICES (DHHS), WHICH IS LOCATED AT 45 CFR, PART
84. DCYF CONTRACTS WITH SERVICE PROVIDERS INCLUDE THE PROVIDER'S ASSURANCE THAT
IT WILL COMPLY WITH SECTION 504 OF THE REGULATIONS, WHICH PROHIBITS
DISCRIMINATION AGAINST HANDICAPPED PERSONS IN PROVING HEALTH, WELFARE, OR OTHER
SOCIAL SERVICES OR BENEFITS.

IN FISCAL YEAR 1983, DCYF BEGAN TO REVIEW ITS SERVICE PROVIDERS TO ASSURE THAT
THEY ARE COMPLYING WITH THESE REQUIREMENT.

IT IS THE RESPONSIBILITY OF EACH SERVICE PROVIDER TO ACQUAINT ITSELF WITH ALL OF
THE PROVISIONS OF THE SECTION 504 REGULATIONS. A COPY OF THE REGULATIONS,
TOGETHER WITH AN AUGUST 14, 1978, POLICY INTERPRETATION OF GENERAL INTEREST TO
PROVIDERS OF HEALTH, WELFARE, OR OTHER SOCIAL SERVICE BENEFITS, IS AVAILABLE
UPON REQUEST FROM THE COMMUNITY RELATIONS LIAISON OFFICER, DEPARTMENT OF
CHILDREN, YOUTH AND FAMILIES, MT. PLEASANT AVENUE, PROVIDENCE, RI, 02920;
TELEPHONE NUMBER : (401) 547-4810.

PROVIDERS SHOULD PAY PARTICULAR ATTENTION TO SUBPARTS A, BA, C, AND F OF THE
REGULATIONS WHICH PERTAIN TO THE FOLLOWING:

SUBPART A - GENERAL PROVISIONS

SECTION:

84.1          PURPOSE
84.2          APPLICATIONS
84.3          DEFINITIONS
84.4          DISCRIMINATION PROHIBITED
84.5          ASSURANCE REQUIRED
84.6          REMEDIAL ACTION, VOLUNTARY ACTION, AND SELF-EVALUATION
              DESIGNATION OF RESPONSIBLE EMPLOYEE AND ADOPTIVE
              GRIEVANCE PROCEDURES
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84.7          NOTICE
84.8          ADMINISTRATIVE REQUIREMENTS FOR SMALL RECIPIENTS
84.9          EFFECT OF STATE OR LOCAL LAW OR OTHER REQUIREMENTS
              AND EFFECT OF EMPLOYMENT OPPORTUNITIES
                                                                       JUNE 1999
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                                                                              22

                                  ADDENDUM VII

                           DRUG-FREE WORKPLACE POLICY

DRUG USE AND ABUSE AT THE WORKPLACE OR WHILE ON DUTY ARE SUBJECTS OF IMMEDIATE
CONCERN IN OUR SOCIETY. THESE PROBLEMS ARE EXTREMELY COMPLEX AND ONES FOR WHICH
THERE ARE NOT EASY SOLUTIONS. FROM A SAFETY PERSPECTIVE, THE USES OF DRUGS MAY
IMPAIR THE WELL-BEING OF ALL EMPLOYEES, THE PUBLIC AT LARGE, AND RESULT IN
DAMAGE TO PROPERTY. THEREFORE, IT IS THE POLICY OF THE STATE THAT THE UNLAWFUL
MANUFACTURE, DISTRIBUTION, DISPENSATION, POSSESSION, OR USE OF A CONTROLLED
SUBSTANCE IS PROHIBITED IN THE WORKPLACE. ANY EMPLOYEE(S) VIOLATING THIS POLICY
WILL BE SUBJECT TO DISCIPLINE UP TO AND INCLUDING TERMINATION. AN EMPLOYEE MAY
ALSO BE DISCHARGED OR OTHERWISE DISCIPLINED FOR A CONVICTION INVOLVING ILLICIT
DRUG BEHAVIOR, REGARDLESS OF WHETHER THE EMPLOYEE'S CONDUCT WAS DETECTED WITHIN
EMPLOYMENT HOURS OR WHETHER HIS/HER ACTIONS WERE CONNECTED IN ANY WAY WITH HIS
OR HER EMPLOYMENT. THE SPECIFICS OF THIS POLICY ARE AS FOLLOWS:

1.       ANY UNAUTHORIZED EMPLOYEE WHO GIVES OR IN ANY WAY TRANSFERS A
         CONTROLLED SUBSTANCE TO ANOTHER PERSON OR SELLS OR MANUFACTURES A
         CONTROLLED SUBSTANCE WHILE ON DUTY, REGARDLESS OF WHETHER THE EMPLOYEE
         IS ON OR OFF THE PREMISES OF THE EMPLOYER WILL BE SUBJECT TO DISCIPLINE
         UP TO AND INCLUDING TERMINATION.

2.       THE TERM "CONTROLLED SUBSTANCE" MEANS ANY DRUGS LISTED
         IN 21 USC, SECTION 812 AND OTHER FEDERAL REGULATIONS. GENERALLY, ALL
         ILLEGAL DRUGS AND SUBSTANCES ARE INCLUDED, SUCH AS MARIJUANA, HEROIN,
         MORPHINE, COCAINE, CODEINE OR OPIUM ADDITIVES, LSD, DMT, STP,
         AMPHETAMINES, METHAMPHETAMINES AND BARBITURATES.

3.       EACH EMPLOYEE IS REQUIRED BY LAW TO INFORM THE AGENCY WITHIN
         FIVE (5) DAYS AFTER HE/SHE IS CONVICTED FOR COALITION OF ANY FEDERAL OR
         STATE CRIMINAL DRUG STATUTE. A CONVICTION MEANS A FINDING OF GUILT
         (INCLUDING A PLEA OF NOLO CONTENDERE) OR THE IMPOSITIONS OF A SENTENCE
         BY A JUDGE OR JURY IN ANY FEDERAL OR STATE COURT.

4.       THE EMPLOYER (THE HIRING AUTHORITY) WILL BE RESPONSIBLE FOR
         REPORTING CONVICTION(S) TO THE APPROPRIATE FEDERAL GRANTING SOURCE,
         WITHIN TEN (10) DAYS AFTER RECEIVING NOTICE FROM THE EMPLOYEE OR
         OTHERWISE RECEIVES ACTUAL NOTICE OF SUCH CONVICTION(S). ALL
         CONVICTION(S) MUST BE REPORTED IN WRITING
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                                                                              23

         TO THE OFFICE OF PERSONNEL ADMINISTRATION (OPA) WITHIN THE SAME TIME
         FRAME.

5.       IF AN EMPLOYEE IS CONVICTED OF VIOLATING ANY CRIMINAL DRUG STATUTE
         WHILE ON DUTY, HE/SHE WILL BE SUBJECT TO DISCIPLINE UP TO AND INCLUDING
         TERMINATION. CONVICTION(S) WHILE OFF DUTY MAY RESULT IN DISCIPLINE OR
         DISCHARGE.

6.       THE STATE ENCOURAGES ANY EMPLOYEE WITH A DRUG ABUSE PROBLEM TO SEEK
         ASSISTANCE FROM THE RHODE ISLAND EMPLOYEE ASSISTANCE PROGRAM (RIEAP).
         YOUR DEPARTMENT PERSONNEL OFFICER HAS MORE INFORMATION ON RIEAP.

7.       THE LAW REQUIRES ALL EMPLOYEES TO ABIDE BY THIS POLICY.

                                                                       JUNE 1999

EMPLOYEE RETAIN THIS COPY
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                                  ADDENDUM VIII

                           DRUG-FREE WORKPLACE POLICY

                      CONTRACTOR CERTIFICATE OF COMPLIANCE

I, KENNETH C. KIRSCH, PRESIDENT & CEO, NETWORK SIX, INC. ("NSI"), A CONTRACTOR
DOING BUSINESS WITH THE STATE OF RHODE ISLAND, HEREBY ACKNOWLEDGES THAT NSI HAS
RECEIVED A COPY OF THE STATE'S POLICY REGARDING THE MAINTENANCE OF A DRUG-FREE
WORKPLACE. NSI HAS BEEN INFORMED THAT THE UNLAWFUL MANUFACTURE, DISTRIBUTION,
DISPENSATION, POSSESSION, OR USE OF A CONTROLLED SUBSTANCE (TO INCLUDE BUT NOT
LIMITED TO SUCH DRUGS AS MARIJUANA, HEROIN, COCAINE, PCP AND CRACK, AND MAY ALSO
INCLUDE LEGAL DRUGS WHICH MAY BE PRESCRIBED BY A LICENSED PHYSICIAN IF THEY ARE
ABUSED) IS PROHIBITED ON THE STATE'S PREMISES OR WHILE CONDUCTING STATE
BUSINESS. NSI ACKNOWLEDGES THAT ITS EMPLOYEES MUST REPORT FOR WORK IN A FIT
CONDITION TO PERFORM THEIR DUTIES.

AS A CONDITION FOR CONTRACTING WITH THE STATE, AS A RESULT OF THE FEDERAL
OMNIBUS DRUG ACT, NSI WILL REQUIRE ITS EMPLOYEES TO ABIDE BY THE STATE'S POLICY.
FURTHER, NSI RECOGNIZES THAT ANY VIOLATION OF THIS POLICY MAY RESULT IN
TERMINATION OF THE CONTRACT IN ACCORDANCE WITH PAR. 5 (b) OF THIS AGREEMENT.

/s/ Kenneth C. Kirsch                                        1/24/00
---------------------------------------                    -----------
AUTHORIZED AGENT/SIGNATURE PROVIDER                           DATE

COMMENTS, IF ANY:

/s/ Jay Lindgren                                             1/27/00
------------------------                                   -----------
JAY LINDGREN, DIRECTOR                                        DATE
DEPARTMENT OF CHILDREN, YOUTH AND FAMILIESPrepared by MERRILL CORPORATION www.edgaradvantage.com

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Exhibit 4.01  

 
 

CORNING INCORPORATED,
  AS ISSUER    
  

 
 

TO    
  

 
 

THE CHASE MANHATTAN BANK,
  AS TRUSTEE    
  

 
 

INDENTURE    
  

 
 

DATED AS OF NOVEMBER 8, 2000    
  

    INDENTURE,
dated as of November 8, 2000, between Corning Incorporated, a corporation duly organized and existing under the laws of the State of New York (herein called the
"Company"), having its principal office at One Riverfront Plaza, Corning, New York 14831 and The Chase Manhattan Bank, a New York banking corporation, as Trustee (herein called the "Trustee"). 

 
 

RECITALS OF THE COMPANY    
  

    The Company has duly authorized the execution and delivery of this Indenture to provide for the issuance from time to time of its unsecured debentures, notes
or other evidences of indebtedness (herein called the "Securities"), to be issued in one or more series as in this Indenture provided. 

    All
things necessary to make this Indenture a valid agreement of the Company, in accordance with its terms, have been done. 

    NOW,
THEREFORE, THIS INDENTURE WITNESSETH: 

    For
and in consideration of the premises and the purchase of the Securities by the Holders thereof, it is mutually agreed, for the equal and proportionate benefit of all Holders of
the Securities or of series thereof, as follows: 

 
 

ARTICLE ONE    
  

 
  DEFINITIONS AND OTHER PROVISIONS
  OF GENERAL APPLICATION    
  

SECTION
101.  DEFINITIONS.  

    For
all purposes of this Indenture, except as otherwise expressly provided or unless the context otherwise requires: 

    (1) the
terms defined in this Article have the meanings assigned to them in this Article and include the plural as well as the singular; 

    (2) all
other terms used herein which are defined in the Trust Indenture Act, either directly or by reference therein, have the meanings assigned to them therein; 

    (3) all
accounting terms not otherwise defined herein have the meanings assigned to them in accordance with generally accepted accounting principles; 

    (4) unless
the context otherwise requires, any reference to an "Article" or a "Section" refers to an Article or a Section, as the case may be, of this Indenture; 

    (5) unless
the context otherwise requires, any reference to a statute, rule or regulation refers to the same (including any successor statute, rule or regulation
thereto) as it may be amended from time to time; 

    (6) the
words "herein", "hereof" and "hereunder" and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or
other subdivision; and 

    (7) when
used with respect to any Security, the words "convert", "converted" and "conversion" are intended to refer to the right of the Holder or the Company to convert
or exchange such Security into or for securities or other property in accordance with such terms, if any, as may hereafter be specified for such Security as contemplated by Section 301, and
these words are not intended to refer to any right of the Holder or the Company to exchange such Security for other Securities of the same series and like tenor pursuant to Section 304, 305,
306, 906 or 1107 or another similar provision of this Indenture, unless the context otherwise requires; and references herein to the terms of any Security that may be converted mean such terms as may
be specified for such Security as contemplated in Section 301. 

    "Act",
when used with respect to any Holder, has the meaning specified in Section 104. 

    "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 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
Procedures" of a Depositary means, with respect to any matter at any time, the policies and procedures of such Depositary, if any, that are applicable to such matter at
such time. 

    "Attributable
Debt" means, as to any particular lease under which any Person is at the time liable, at any date as of which the amount thereof is to be determined, the total net
amount of rent required to be paid by such Person under such lease during the remaining term thereof, discounted from the respective due date thereof to such date at a rate of 15% per annum compounded
semi-annually. The net amount of rent required to be paid under any such lease for any such period shall be the amount of the rent payable by the lessee with respect to such period, after
excluding amounts required to be paid on account of maintenance and repairs, insurance, taxes, assessments, water rates and similar charges. In the case of any lease which is terminable by the lessee
upon the payment of a penalty, such net amount shall also include the amount of such penalty, but no rent shall be considered as required to be paid under such lease subsequent to the first date upon
which it may be so terminated. 

    "Authenticating
Agent" means any Person authorized by the Trustee pursuant to Section 614 to act on behalf of the Trustee to authenticate Securities of one or more series. 

    "Board
of Directors" means either the board of directors of the Company or any duly authorized committee of that board. 

    "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 and to be in
full force and effect on the date of such certification, and delivered to the Trustee. 

    "Business
Day", when used with respect to any Place of Payment, means each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions or trust
companies in that Place of Payment are authorized or obligated by law or executive order to close; provided that, when used with respect to any
Security, "Business Day" may have such other meaning, if any, as may be specified for such Security as contemplated by Section 301. 

    "Commission"
means the Securities and Exchange Commission, from time to time constituted, created under the Exchange Act, or, if at any time after the execution of this instrument
such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body performing such duties at such time. 

    "Company"
means the Person named as the "Company" in the first paragraph of this instrument until a successor Person shall have become such pursuant to the applicable provisions of
this Indenture, and thereafter "Company" shall mean such successor Person. 

    "Company
Request" or "Company Order" means a written request or order signed in the name of the Company by its Chairman of the Board, its Vice Chairman of the Board, its President or
a Vice President, and by its Treasurer, an Assistant Treasurer, its Controller, an Assistant Controller, its Secretary or an Assistant Secretary or by any two other officers of the Company designated
in writing by or pursuant to authority of the Board of Directors and delivered to the Trustee from time to time. 

    "Consolidated
Net Tangible Assets" means the aggregate amount of assets (less applicable reserves and other properly deductible items) after deducting therefrom (a) all current
liabilities (excluding any thereof constituting Funded Debt by reason of being renewable or extendible) and (b) all goodwill, trade names, trademarks, patents, unamortized debt discount and
expense and other like intangibles, all as set forth on the most recent balance sheet of the Company and its consolidated subsidiaries and computed in accordance with generally accepted accounting
principles. 

 

    "Conversion Agent" means any person appointed and authorized as such by the Company pursuant to any indenture supplemental hereto. 

    "Corporate
Trust Office" means the principal office of the Trustee at which at any particular time its corporate trust business shall be administered, which at the date hereof is
located at 450 West 33rd Street, 15th Floor, New York, New York 10001 or at such other address as the Trustee may designate from time to time by notice to the Holders. 

    "corporation"
means a corporation, association, company (including a limited liability company), joint-stock company, business trust or other similar entity. 

    "Covenant
Defeasance" has the meaning specified in Section 1303. 

    "Debt"
has the meaning specified in Section 1008. 

    "Defaulted
Interest" has the meaning specified in Section 307. 

    "Defeasance"
has the meaning specified in Section 1302. 

    "Depositary"
means, with respect to Securities of any series issuable in whole or in part in the form of one or more Global Securities, a clearing agency that is designated to act as
Depositary for such Securities as contemplated by Section 301. 

    "Domestic
Subsidiary" means a Subsidiary, except a Subsidiary (a) which neither transacts any substantial portion of its business nor regularly maintains any substantial
portion of its fixed assets within the States of the United States, or (b) which is engaged primarily in financing the operations of the Company or its Subsidiaries, or both, outside the States
of the United States. 

    "Event
of Default" has the meaning specified in Section 501. 

    "Exchange
Act" means the Securities Exchange Act of 1934 and any statute successor thereto, in each case as amended from time to time, and (unless the context otherwise requires)
includes the rules and regulations of the Securities and Exchange Commission promulgated thereunder. 

    "Expiration
Date" has the meaning specified in Section 104. 

    "Funded
Debt" means all indebtedness for money borrowed having a maturity of more than 12 months from the date as of which the amount thereof is to be determined or having a
maturity of less than 12 months but by its terms being renewable or extendible beyond 12 months from such date at the option of the borrower. 

    "Global
Security" means a Security that evidences all or part of the Securities of any series and bears the legend set forth in Section 204 (or such legend as may be specified
as contemplated by Section 301 for such Securities). 

    "Holder"
means a Person in whose name a Security is registered in the Security Register. 

    "Indenture"
means this instrument as originally executed and as it may from time to time be supplemented or amended by one or more indentures supplemental hereto entered into pursuant
to the applicable provisions hereof, including, for all purposes of this instrument and any such supplemental indenture, the provisions of the Trust Indenture Act that are deemed to be a part of and
govern this instrument and any such supplemental indenture, respectively. The term "Indenture" shall also include the terms of particular series of Securities established as contemplated by
Section 301. 

    "interest",
when used with respect to an Original Issue Discount Security which by its terms bears interest only at Maturity, means interest payable at Maturity. 

    "Interest
Payment Date", when used with respect to any Security, means the Stated Maturity of an instalment of interest on such Security. 

3

 

    "Investment Company Act" means the Investment Company Act of 1940 and any statute successor thereto, in each case as amended from time to time. 

    "Maturity",
when used with respect to any Security, means the date on which the principal of such Security or an instalment of principal becomes due and payable as therein or herein
provided, whether at the Stated Maturity or by declaration of acceleration, call for redemption or otherwise. 

    "Mortgage"
has the meaning specified in Section 1008. 

    "Notice
of Default" means a written notice of the kind specified in Section 501(4). 

    "Officers'
Certificate" means a certificate signed by the Chairman of the Board, a Vice Chairman of the Board, the President, a Sector President or a Vice President, and by the
Treasurer, an Assistant Treasurer, Controller, Assistant Controller, the Secretary or an Assistant Secretary of the Company, or by any two other officers of the Company designated in writing or
pursuant to authority of the Board of Directors and delivered to the Trustee from time to time. One of the officers signing an Officers' Certificate given pursuant to Section 1004 shall be the
principal executive, financial or accounting officer of the Company. 

    "Opinion
of Counsel" means a written opinion of counsel, who may be counsel for the Company, and who shall be acceptable to the Trustee. 

    "Original
Issue Discount Security" means any Security which provides for an amount less than the principal amount thereof to be due and payable upon a declaration of acceleration of
the Maturity thereof pursuant to Section 502. 

    "Outstanding",
when used with respect to Securities, means, as of the date of determination, all Securities theretofore authenticated and delivered under this Indenture,  except: 

    (1) Securities
theretofore canceled by the Trustee or delivered to the Trustee for cancellation; 

    (2) Securities
for whose payment or redemption money in the necessary amount has been theretofore deposited with the Trustee or any Paying Agent (other than the
Company) in trust or set aside and segregated in trust by the Company (if the Company shall act as its own Paying Agent) for the Holders of such Securities;  provided that, if such Securities are to be
redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor
satisfactory to the Trustee has been made; 

    (3) Securities
as to which Defeasance has been effected pursuant to Section 1302; 

    (4) Securities
which have been paid pursuant to Section 306 or in exchange for or in lieu of which other Securities have been authenticated and delivered
pursuant to this Indenture, other than any such Securities in respect of which there shall have been presented to the Trustee proof satisfactory to it that such Securities are held by a bona fide
purchaser in whose hands such Securities are valid obligations of the Company; and 

    (5) Securities
as to which any property deliverable upon conversion thereof has been delivered (or such delivery has been duly provided for), or as to which any other
particular conditions have been satisfied, in each case as may be provided for such Securities as contemplated in Section 301; 

    provided, however, that in determining whether the Holders of the requisite principal amount of the Outstanding Securities have given,
made or taken any request, demand, authorization, direction, notice, consent, waiver or other action hereunder as of any date, (A) the principal amount of an Original Issue Discount Security
which shall be deemed to be Outstanding shall be the amount of the principal thereof which would be due and payable as of such date upon acceleration of the Maturity thereof to such date pursuant to
Section 502, (B) if, as of such date, the principal amount payable at the Stated 

4

 

Maturity of a Security is not determinable, the principal amount of such Security which shall be deemed to be Outstanding shall be the amount as specified or determined as contemplated by
Section 301, (C) the principal amount of a Security denominated in one or more foreign currencies, composite currencies or currency units which shall be deemed to be Outstanding shall be
the U.S. dollar equivalent, determined as of such date in the manner provided as contemplated by Section 301, of the principal amount of such Security (or, in the case of a Security described
in Clause (A) or (B) above, of the amount determined as provided in such Clause), and (D) Securities owned by the Company or any other obligor upon the Securities or any Affiliate
of the Company or of such other obligor shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in relying upon any such request,
demand, authorization, direction, notice, consent, waiver or other action, only Securities which a Responsible Officer of the Trustee actually knows to be so owned shall be so disregarded. Securities
so owned which have been pledged in
good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee's right so to act with respect to such Securities and that the pledgee is not the
Company or any other obligor upon the Securities or any Affiliate of the Company or of such other obligor. 

    "Paying
Agent" means any Person authorized by the Company to pay the principal of or any premium or interest on any Securities on behalf of the Company. 

    "Person"
means any individual, corporation, partnership, joint venture, trust, unincorporated organization or government or any agency or political subdivision thereof, or any other
entity whatsoever. 

    "Place
of Payment", when used with respect to the Securities of any series and subject to Section 1002, means the place or places where the principal of and any premium and
interest on the Securities of that series are payable as specified as contemplated by Section 301. 

    "Predecessor
Security" of any particular Security means every previous Security evidencing all or a portion of the same debt as that evidenced by such particular Security; and, for
the purposes of this definition, any Security authenticated and delivered under Section 306 in exchange for or in lieu of a mutilated, destroyed, lost or stolen Security shall be deemed to
evidence the same debt as the mutilated, destroyed, lost or stolen Security. 

    "Principal
Domestic Manufacturing Property" means any building, structure or other facility, together with the land upon which it is erected and fixtures comprising a part thereof,
used primarily for manufacturing or warehousing and located in the United States, owned or leased by the Company or any Subsidiary of the Company, the gross book value (without deduction of any
depreciation reserves) of which on the date as of which the determination is being made exceeds 3% of Consolidated Net Tangible Assets, other than any such building, structure or other facility or
portion thereof (i) which is an air or water pollution control facility or an industrial revenue project financed by obligations issued by a State or local governmental unit pursuant to
Section 103(b)(4)(F), 103(b)(4)(E) or 103(b)(6) of the Internal Revenue Code, or any successor provision thereof, or (ii) which, in the opinion of the Board of Directors of the Company,
is not of material importance to the total business conducted by the Company and its Subsidiaries as an entirety. 

    "Redemption
Date", when used with respect to any Security to be redeemed, means the date fixed for such redemption by or pursuant to this Indenture. 

    "Redemption
Price", when used with respect to any Security to be redeemed, means the price at which it is to be redeemed pursuant to this Indenture. 

    "Regular
Record Date" for the interest payable on any Interest Payment Date on the Securities of any series means the date specified for that purpose as contemplated by
Section 301. 

5

 
    "Responsible Officer", when used with respect to the Trustee, means any Vice President, the Secretary, any Assistant Secretary, the Treasurer, any Assistant Treasurer, any trust
officer or any other officer of the Trustee, in each case, located in the Corporate Trust Office of the Trustee, and also means, with respect to a particular corporate trust matter, any other officer
to whom such matter is referred because of his knowledge of and familiarity with the particular subject. 

    "Securities"
has the meaning stated in the first recital of this Indenture and more particularly means any Securities authenticated and delivered under this Indenture. 

    "Securities
Act" means the Securities Act of 1933 and any statute successor thereto, in each case as amended from time to time, and (unless the context otherwise requires) includes
the rules and regulations of the Securities and Exchange Commission promulgated thereunder. 

    "Security
Register" and "Security Registrar" have the respective meanings specified in Section 305. 

    "Special
Record Date" for the payment of any Defaulted Interest means a date fixed by the Trustee pursuant to Section 307. 

    "Stated
Maturity", when used with respect to any Security or any instalment of principal thereof or interest thereon, means the date specified in such Security as the fixed date on
which the principal of such Security or such instalment of principal or interest is due and payable. 

    "Subsidiary"
means a manufacturing corporation more than 80% 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. 

    "Trust
Indenture Act" means the Trust Indenture Act of 1939 as amended and as in force at the date as of which this instrument was executed; provided,
however, that in the event the Trust Indenture Act of 1939 is amended after such date, "Trust Indenture Act" means, to the extent required by any such amendment, the Trust
Indenture Act of 1939 as so amended. 

    "Trustee"
means the Person named as the "Trustee" in the first paragraph of this instrument until a successor Trustee shall have become such pursuant to the applicable provisions of
this Indenture, and thereafter "Trustee" shall mean or include each Person who is then a Trustee hereunder, and if at any time there is more than one such Person, "Trustee" as used with respect to the
Securities of any series shall mean the Trustee with respect to Securities of that series. 

    "U.S.
Government Obligation" has the meaning specified in Section 1304. 

    "Vice
President", when used with respect to the Company or the Trustee, means any vice president, whether or not designated by a number or a word or words added before or after the
title "vice president". 

SECTION
102.  COMPLIANCE CERTIFICATES AND OPINIONS.  

    Upon
any application or request by the Company to the Trustee to take any action under any provision of this Indenture, the Company shall furnish to the Trustee such certificates and
opinions as may be required hereunder or under the Trust Indenture Act. Each such certificate or opinion shall be given in the form of an Officers' Certificate, if to be given by an officer of the
Company, or an Opinion of Counsel, if to be given by counsel, and shall comply with the requirements of the Trust Indenture Act and any other requirements set forth in this Indenture. 

    Every
certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture shall include, 

    (1) a
statement that each individual signing such certificate or opinion has read such covenant or condition and the definitions herein relating thereto; 

6

 

    (2) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are
based; 

    (3) a
statement that, in the opinion of each such individual, 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, in the opinion of each such individual, such condition or covenant has been complied with. 

SECTION
103.  FORM OF DOCUMENTS DELIVERED TO TRUSTEE.  

    In
any case where several matters are required to be certified by, or covered by an opinion of, any specified Person, it is not necessary that all such matters be certified by, or
covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give an opinion with respect to some matters and one
or more other such Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several documents. 

    Any
certificate or opinion of an officer of the Company may be based, insofar as it relates to legal matters, upon a certificate or opinion of, or representations by, counsel, unless
such officer knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to the matters upon which his certificate or opinion is based are
erroneous. Any such certificate or opinion of, or representation by, counsel may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an officer
or officers of the Company stating that the information with respect to such factual matters is in the possession of the Company, unless such counsel knows, or in the exercise of reasonable care
should know, that the certificate or opinion or representations with respect to such matters are erroneous. 

    Where
any Person is required to make, give or execute two or more applications, requests, consents, certificates, statements, opinions or other instruments under this Indenture, they
may, but need not, be consolidated and form one instrument. 

SECTION
104.  ACTS OF HOLDERS; RECORD DATES.  

    Any
request, demand, authorization, direction, notice, consent, waiver or other action provided or permitted by this Indenture to be given, made or taken by Holders may be embodied in
and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by agent duly appointed in writing; and, except as herein otherwise expressly provided, such
action shall become effective when such instrument or instruments are delivered to the Trustee and, where it is hereby expressly required, to the Company. Such instrument or instruments (and the
action embodied therein and evidenced thereby) are herein sometimes referred to as the "Act" of the Holders signing such instrument or instruments. Proof of execution of any such instrument or of a
writing appointing any such agent shall be sufficient for any purpose of this Indenture and (subject to Section 601) conclusive in favor of the Trustee and the Company, if made in the manner
provided in this Section. 

    The
fact and date of the execution by any Person of any such instrument or writing may be proved by the affidavit of a witness of such execution or by a certificate of a notary public
or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or writing acknowledged to him the execution thereof. Where such execution
is by a signer acting in a capacity other than his individual capacity, such certificate or affidavit shall also constitute sufficient proof of his authority. The fact and date of execution of any
such instrument or writing, or the authority of the Person executing the same, may also be proved in any other manner which the Trustee deems sufficient. 

    The
ownership of Securities shall be proved by the Security Register. 

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    Any request, demand, authorization, direction, notice, consent, waiver or other Act of the Holder of any Security shall bind every future Holder of the same Security and the Holder of
every Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything done, omitted or suffered to be done by the Trustee or the Company in
reliance thereon, whether or not notation of such action is made upon such Security. 

    The
Company may set any day as a record date, the written notice of which shall be sent to the Trustee, for the purpose of determining the Holders of Outstanding Securities of any
series entitled to give, make or take any request, demand, authorization, direction, notice, consent, waiver or other action provided or permitted by this Indenture to be given, made or taken by
Holders of Securities of such series, provided that the Company may not set a record date for, and the provisions of this paragraph shall not apply with
respect to, the giving or making of any notice, declaration, request or direction referred to in the next paragraph. If any record date is set pursuant to this paragraph, the Holders of Outstanding
Securities of the relevant series on such record date, and no other Holders, shall be entitled to take the relevant action, whether or not such Holders remain Holders after such record date;  provided
that no such action shall be effective hereunder unless taken on or prior to the
applicable Expiration Date by Holders of the requisite principal amount of Outstanding Securities of such series on such record date. Nothing in this paragraph shall be construed to prevent the
Company from setting a new record date for any action for which a record date has previously been set pursuant to this paragraph (whereupon the record date previously set shall automatically and with
no action by any Person be canceled and of no effect), and nothing in this paragraph shall be construed to render ineffective any action taken by Holders of the requisite principal amount of
Outstanding Securities of the relevant series on the date such action is taken. Promptly after any record date is set pursuant to this paragraph, the Company, at its own expense, shall cause notice of
such record date, the proposed action by Holders and the applicable Expiration Date to be given to the Trustee in writing and to each Holder of Securities of the relevant series in the manner set
forth in Section 106. 

    The
Trustee may set any day as a record date for the purpose of determining the Holders of Outstanding Securities of any series entitled to join in the giving or making of
(i) any Notice of Default, (ii) any declaration of acceleration referred to in Section 502, (iii) any request to institute proceedings referred to in Section 507(2)
or (iv) any direction referred to in Section 512, in each case with respect to Securities of such series. If any record date is set pursuant to this paragraph, the Holders of Outstanding
Securities of such series on such record date, and no other Holders, shall be entitled to join in such notice, declaration, request or direction, whether or not such Holders remain Holders after such
record date; provided that no such action shall be effective hereunder unless taken on or prior to the applicable Expiration Date by Holders of the
requisite principal amount of Outstanding Securities of such series on such record date. Nothing in this paragraph shall be construed to prevent the Trustee from setting a new record date for any
action for which a record date has previously been set pursuant to this paragraph (whereupon the record date previously set shall automatically and with no action by any Person be canceled and of no
effect), and nothing in this paragraph shall be construed to render ineffective any action taken by Holders of the requisite principal amount of Outstanding Securities of the relevant series on the
date such action is taken. Promptly after any record date is set pursuant to this paragraph, the Trustee, at the Company's expense, shall cause notice of such record date, the proposed action by
Holders and the applicable Expiration Date to be given to the Company in writing and to each Holder of Securities of the relevant series in the manner set forth in Section 106. 

    With
respect to any record date set pursuant to this Section, the party hereto which sets such record dates may designate any day as the "Expiration Date" and from time to time may
change the Expiration Date to any earlier or later day; provided that no such change shall be effective unless notice of the proposed new Expiration
Date is given to the other party hereto in writing, and to each Holder of Securities of the relevant series in the manner set forth in Section 106, on or prior to the existing 

8

 

Expiration Date. If an Expiration Date is not designated with respect to any record date set pursuant to this Section, the party hereto which set such record date shall be deemed to have initially
designated the 180th day after such record date as the Expiration Date with respect thereto, subject to its right to change the Expiration Date as provided in this paragraph. Notwithstanding the
foregoing, no Expiration Date shall be later than the 180th day after the applicable record date. 

    Without
limiting the foregoing, a Holder entitled hereunder to take any action hereunder with regard to any particular Security may do so with regard to all or any part of the
principal amount of such Security or by one or more duly appointed agents each of which may do so pursuant to such appointment with regard to all or any part of such principal amount. 

SECTION
105.  NOTICES, ETC., TO TRUSTEE AND COMPANY.  

    Any
request, demand, authorization, direction, notice, consent, waiver or Act of Holders or other document provided or permitted by this Indenture to be made upon, given or furnished
to, or filed with, 

    (1) the
Trustee by any Holder or by the Company shall be sufficient for every purpose hereunder if made, given, furnished or filed in writing to or with the Trustee at
its Corporate Trust Office, Attention: Capital Market Fiduciary Services, or 

    (2) the
Company by the Trustee or by any Holder shall be sufficient for every purpose hereunder (unless otherwise herein expressly provided) if in writing and mailed,
first-class postage prepaid, to the Company addressed to it at the address of its principal office specified in the first paragraph of this instrument or at any other address previously furnished in
writing to the Trustee by the Company. 

    The
Company shall promptly transmit to the Trustee any request, demand, authorization, direction, notice, consent, waiver or Act received from any Holder. 

SECTION
106.  NOTICE TO HOLDERS; WAIVER.  

    Where
this Indenture provides for notice to Holders of any event, such notice shall be sufficiently given (unless otherwise herein expressly provided) if in writing and mailed,
first-class postage prepaid, to each Holder affected by such event, at his address as it appears in the Security Register, not later than the latest date (if any), and not earlier than the earliest
date (if any), prescribed for the giving of such notice. In any case where notice to Holders is given by mail, neither the failure to mail such notice, nor any defect in any notice so mailed, to any
particular Holder shall affect the sufficiency of such notice with respect to other Holders. Where this Indenture provides for notice in any manner, such notice may be waived in writing by the Person
entitled to receive such notice, either before or after the event,
and such waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the Trustee, but such filing shall not be a condition precedent to the validity of any action
taken in reliance upon such waiver. 

    In
case by reason of the suspension of regular mail service or by reason of any other cause it shall be impracticable to give such notice by mail, then such notification as shall be
made with the approval of the Trustee shall constitute a sufficient notification for every purpose hereunder. 

    Where
this Indenture provides for Notice of any event to a Holder of a Global Security, such notice shall be sufficiently given if given to the Depositary for such Security (or its
designee), pursuant to its Applicable Procedures, not later than the latest date (if any), and not earlier than the earliest date (if any), prescribed for the giving of such notice. 

9

  

SECTION
107.  CONFLICT WITH TRUST INDENTURE ACT.  

    If
any provision hereof limits, qualifies or conflicts with a provision of the Trust Indenture Act which is required under such Act to be a part of and govern this Indenture, the
latter provision shall control. If any provision of this Indenture modifies or excludes any provision of the Trust Indenture Act which may be so modified or excluded, the latter provision shall be
deemed to apply to this Indenture as so modified or to be excluded, as the case may be. 

SECTION
108.  EFFECT OF HEADINGS AND TABLE OF CONTENTS.  

    The
Article and Section headings herein and the Table of Contents are for convenience only and shall not affect the construction of any provision hereof. 

SECTION
109.  SUCCESSORS AND ASSIGNS.  

    All
covenants and agreements in this Indenture by the Company shall bind its successors and assigns, whether so expressed or not. 

SECTION
110.  SEPARABILITY CLAUSE.  

    In
case any provision in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall
not in any way be affected or impaired thereby. 

SECTION
111.  BENEFITS OF INDENTURE.  

    Nothing
in this Indenture or in the Securities, express or implied, shall give to any Person, other than the parties hereto and their successors hereunder and the Holders, any benefit
or any legal or equitable right, remedy or claim under this Indenture. 

SECTION
112.  GOVERNING LAW.  

    This
Indenture and the Securities shall be governed by and construed in accordance with the law of the State of New York. 

SECTION
113.  LEGAL HOLIDAYS.  

    In
any case where any Interest Payment Date, Redemption Date or Maturity of any Security, or any date on which a Holder has the right to convert his Security, shall not be a Business
Day at any Place of Payment, then (notwithstanding any other provision of this Indenture or of the Securities (other than a provision of any Security which specifically states that such provision
shall apply in lieu of this Section)) payment of interest or principal (and premium, if any), or conversion of such Security need not be made at such Place of Payment on such date, but may be made on
the next succeeding Business Day at such Place of Payment with the same force and effect as if made on the Interest Payment Date or Redemption Date, or at the Maturity, or on such date for conversion,
as the case may be. 

 
 

ARTICLE TWO    
  

 
  SECURITY FORMS    
  

SECTION
201.  FORMS GENERALLY.  

    The
Securities of each series shall be in substantially the form set forth in this Article, or in such other form as shall be established by or pursuant to a Board Resolution or in
one or more indentures supplemental hereto, in each case with such appropriate insertions, omissions, substitutions and other
variations as are required or permitted by this Indenture, and may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon as may be required to
comply with the rules of any securities exchange or Depositary therefor or as may, consistently herewith, be 

10

 

determined by the officers executing such Securities, as evidenced by their execution thereof. If the form of Securities of any series is established by action taken pursuant to a Board Resolution, a
copy of an appropriate record of such action shall be certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of the Company Order
contemplated by Section 303 for the authentication and delivery of such Securities. 

    The
definitive Securities shall be printed, lithographed or engraved on steel engraved borders or may be produced in any other manner, all as determined by the officers executing such
Securities, as evidenced by their execution of such Securities. 

SECTION
202.  FORM OF FACE OF SECURITY.  

    [Insert
any legend required by the Internal Revenue Code and the regulations thereunder.] 

 
 

Corning Incorporated    

	

No.	
 	

$            

    Corning
Incorporated, a corporation duly organized and existing under the laws of the State of New York (herein called the "Company", which term includes any successor Person under
the Indenture
hereinafter referred to), for value received, hereby promises to pay to            , or registered assigns, the principal sum of          
  Dollars on            [IF
THE SECURITY IS TO BEAR INTEREST PRIOR TO MATURITY, INSERT—, and to pay interest thereon from            or from the most recent Interest Payment Date to which interest has been
paid or duly provided for, semi-annually on            and            in each year, commencing      ,
 and at the Maturity thereof, at the rate of
  % per annum, until the principal hereof is paid or made available for payment [IF APPLICABLE, INSERT—, provided
that any principal and premium, and any such instalment of interest, which is overdue shall bear interest at the rate of...% per annum (to the extent that the payment of such interest shall be legally
enforceable), from the dates such amounts are due until they are paid or made available for payment, and such interest shall be payable on demand]. The interest so payable, and punctually
paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at
the close of business on the Regular Record Date for such interest, which shall be the      or      (whether or not a Business Day), as the case may be, next preceding such
Interest Payment Date. Any such interest so payable, but not punctually paid or duly provided for, on any Interest Payment Date will forthwith cease to be payable to the Holder on such Regular Record
Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such
Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid in any
other lawful manner not inconsistent with the requirements of any securities exchange on which this Security may be listed, and upon such notice as may be required by such exchange, all as more fully
provided in said Indenture]. [IF THE SECURITY IS NOT TO BEAR INTEREST PRIOR TO MATURITY, INSERT—The principal of this Security shall not bear interest except in the
case of a default in payment of principal upon acceleration, upon redemption or at Stated Maturity and in such case the overdue principal and any overdue premium shall bear interest at the rate of
      % per annum (to the extent that the payment of such interest shall be legally enforceable), from the dates such amounts are due until they are paid or made available for payment.
Interest on any overdue principal or premium shall be payable on demand.] 

    Payment
of the principal of (and premium, if any) and [IF APPLICABLE, INSERT—any such] interest on this Security will be made at the office or
agency of the Company maintained for that 

11

 

purpose in New York, New York, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts, against surrender of this
Security in the case of any payment due at the Maturity of the principal thereof (other than any payment of interest that first becomes payable on a day other than an Interest Payment Date);  provided, however, that at the option of the Company, payment of interest may be made by check mailed to the address of the Person entitled thereto as
such address shall appear in the Security Register; and provided, further, that if this Security is a Global Security, payment may be made pursuant to
the Applicable Procedures of the Depositary as permitted in said Indenture. 

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

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

    IN
WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its corporate seal. 

Dated:

	 	 	Corning Incorporated
	

 	
 	

By:	

 
	 	 	 	
 Name:

Title:
	

Attest:	
 	

 	

 

SECTION
203.  FORM OF REVERSE OF SECURITY.  

    This
Security is one of a duly authorized issue of securities of the Company (herein called the "Securities"), issued and to be issued in one or more series under an Indenture, dated
as of        , 20  (herein called the "Indenture", which term shall have the meaning assigned to it in such instrument), between the Company and The Chase
Manhattan Bank, as Trustee (herein called the "Trustee", which term includes any successor trustee under the Indenture), and reference is hereby made to the Indenture for a statement of the respective
rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are to be,
authenticated and delivered. This Security is one of the series designated on the face hereof [IF APPLICABLE, INSERT—, limited in aggregate principal amount to
$      ]. 

    [IF
APPLICABLE, INSERT—The Securities of this series are subject to redemption upon not less than 30 days' nor more than 60 days' notice, at any
time [IF APPLICABLE, INSERT—on or after            , 20  ], as a whole or in part, at the election of the Company, at the following Redemption
Prices (expressed as percentages of the principal amount): If redeemed [IF 

12

 

APPLICABLE, INSERT—on or before            ,  %, and if redeemed] during the 12-month period beginning           
 of the years
indicated, 

	Year
	 	Redemption

Price
	 	Year
	 	Redemption

Price

	

 	
 	

 	
 	

 	
 	

 

and
thereafter at a Redemption Price equal to      % of the principal amount, together in the case of any such redemption with accrued interest to the Redemption Date, but interest
instalments whose Stated Maturity is on or prior to such Redemption Date will be payable to the Holders of such Securities, or one or more Predecessor Securities, of record at the close of business on
the relevant Record Dates referred to on the face hereof, all as provided in the Indenture.] 

    [IF
THE SECURITY IS SUBJECT TO REDEMPTION OF ANY KIND, INSERT—In the event of redemption of this Security in part only, a new Security or Securities of this
series and of like tenor for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof.] 

    [IF
APPLICABLE, INSERT—The Indenture contains provisions for defeasance at any time of the entire indebtedness of this Security or certain restrictive
covenants and Events of Default with respect to this Security, in each case upon compliance with certain conditions set forth in the Indenture.] 

    [IF
THE SECURITY IS NOT AN ORIGINAL ISSUE DISCOUNT SECURITY, INSERT—If an Event of Default with respect to Securities of this series shall occur and be
continuing, the principal of the
Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture.] 

    [IF
THE SECURITY IS AN ORIGINAL ISSUE DISCOUNT SECURITY, INSERT—If an Event of Default with respect to Securities of this series shall occur and be continuing,
an amount of principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture. Such amount shall be equal to—INSERT
FORMULA FOR DETERMINING THE AMOUNT. Upon payment (i) of the amount of principal so declared due and payable and (ii) of interest on any overdue principal, premium and interest (in each
case to the extent that the payment of such interest shall be legally enforceable), all of the Company's obligations in respect of the payment of the principal of and premium and interest, if any, on
the Securities of this series shall terminate.] 

    The
Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the
Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in principal amount of the
Securities at the time Outstanding of all series to be affected (considered together as one class for this purpose). The Indenture also contains provisions (i) permitting the Holders of a
majority in principal amount of the Securities at the time Outstanding of all series to be affected under the Indenture (considered together as one class for this purpose), on behalf of the Holders of
all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and (ii) permitting the Holders of a majority in principal amount of the Securities at
the time Outstanding of any series to be affected under the Indenture (with each such series considered separately for this purpose), on behalf of the Holders of all Securities of such series, to
waive certain past defaults under the Indenture and their 

13

 

consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon
the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security. 

    As
provided in and subject to the provisions of the Indenture, the Holder of this Security shall not have the right to institute any proceeding with respect to the Indenture, or for
the appointment of a receiver or trustee, or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default with respect to
the Securities of this series, the Holders of not less than 25% in principal amount of the Securities of this series at the time Outstanding shall have made written request to the Trustee to institute
proceedings in respect of such Event of Default as Trustee and offered the Trustee indemnity reasonably satisfactory to it, and the Trustee shall not have received from the Holders of a majority in
principal amount of Securities of this series at the time Outstanding a direction inconsistent with such request, and shall have failed to institute any such proceeding, for 60 days after
receipt of such notice, request and offer of indemnity.
The foregoing shall not apply to any suit instituted by the Holder of this Security for the enforcement of any payment of principal hereof or any premium or interest hereon on or after the respective
due dates expressed herein. 

    No
reference herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to
pay the principal of and any premium and interest on this Security at the times, place and rate, and in the coin or currency, herein prescribed. 

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

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

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

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

    This
Security is a Global Security and is subject to the provisions of the Indenture relating to Global Securities, including the limitations in Section 305 thereof on
transfers and exchanges of Global Securities. 

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

14

  

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

SECTION
204.  FORM OF LEGEND FOR GLOBAL SECURITIES.  

    Unless
otherwise specified as contemplated by Section 301 for the Securities evidenced thereby, every Global Security authenticated and delivered hereunder shall bear a legend
in substantially the following form: 

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

SECTION
205.  FORM OF TRUSTEE'S CERTIFICATE OF AUTHENTICATION.  

    The
Trustee's certificates of authentication shall be in substantially the following form: 

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

Dated:

	 	 	The Chase Manhattan Bank,
	 	 	AS TRUSTEE
	

 	
 	

By	
 	

 
	 	 	 	 	
 AUTHORIZED SIGNATORY

 
 

ARTICLE THREE    
  

 
  THE SECURITIES    
  

SECTION
301.  AMOUNT UNLIMITED; ISSUABLE IN SERIES.  

    The
aggregate principal amount of Securities which may be authenticated and delivered under this Indenture is unlimited. 

    The
Securities may be issued in one or more series. There shall be established in or pursuant to a Board Resolution and, subject to Section 303, set forth, or determined in the
manner provided, in an Officers' Certificate, or established in one or more indentures supplemental hereto, prior to the issuance of Securities of any series, 

     (1) the
title of the Securities of the series (which shall distinguish the Securities of the series from Securities of any other series); 

     (2) any
limit upon the aggregate principal amount of the Securities of the series which may be authenticated and delivered under this Indenture (except
for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the series pursuant to Section 304, 305, 306, 906 or 1107 and
except for any Securities which, pursuant to Section 303, are deemed never to have been authenticated and delivered hereunder); 

15

 

     (3) the Person to whom any interest on a Security of the series shall be payable, if other than the Person in whose name that Security (or one or more
Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest; 

     (4) the
date or dates on which the principal of any Securities of the series is payable; 

     (5) the
rate or rates at which any Securities of the series shall bear interest, if any, the date or dates from which any such interest shall accrue,
the Interest Payment Dates on which any such interest shall be payable and the Regular Record Date for any such interest payable on any Interest Payment Date; 

     (6) the
place or places where the principal of and any premium and interest on any Securities of the series shall be payable and the manner in which any
payment may be made; 

     (7) the
period or periods within which, the price or prices at which and the terms and conditions upon which any Securities of the series may be
redeemed, in whole or in part, at the option of the Company and, if other than by a Board Resolution, the manner in which any election by the Company to redeem the Securities shall be evidenced; 

     (8) the
obligation, if any, of the Company to redeem or purchase any Securities of the series pursuant to any sinking fund or analogous provisions or at
the option of the Holder thereof and the period or periods within which, the price or prices at which and the terms and conditions upon which any Securities of the series shall be redeemed or
purchased, in whole or in part, pursuant to such obligation; 

     (9) if
other than denominations of $1,000 and any multiple thereof, the denominations in which any Securities of the series shall be issuable; 

    (10) if
the amount of principal of or any premium or interest on any Securities of the series may be determined with reference to an index or pursuant to a formula, the
manner in which such amounts shall be determined; 

    (11) if
other than the currency of the United States of America, the currency, currencies, composite currency, composite currencies or currency units in which the
principal of or any premium or interest on any Securities of the series shall be payable and the manner of determining the equivalent thereof in the currency of the United States of America for any
purpose, including for the purposes of making payment in the currency of the United States of America and applying the definition of "Outstanding" in Section 101; 

    (12) if
the principal of or any premium or interest on any Securities of the series is to be payable, at the election of the Company or the Holder thereof, in one or
more currencies, composite currencies or currency units other than that or those in which such Securities are stated to be payable, the currency, currencies, composite currency, composite currencies
or currency units in which the principal of or any premium or interest on such Securities as to which such election is made shall be payable, the periods within which and the terms and conditions upon
which such election is to be made and the amount so payable (or the manner in which such amount shall be determined); 

    (13) if
other than the entire principal amount thereof, the portion of the principal amount of any Securities of the series which shall be payable upon declaration of
acceleration of the Maturity thereof pursuant to Section 502; 

    (14) if
the principal amount payable at the Stated Maturity of any Securities of the series will not be determinable as of any one or more dates prior to the Stated
Maturity, the amount which shall be deemed to be the principal amount of such Securities as of any such date for any purpose thereunder or hereunder, including the principal amount thereof which shall
be due and payable 

16

 

upon any Maturity other than the Stated Maturity or which shall be deemed to be Outstanding as of any date prior to the Stated Maturity (or, in any such case, the manner in which such amount deemed to
be the principal amount shall be determined); 

    (15) if
applicable, that the Securities of the series, in whole or any specified part, shall be defeasible pursuant to Section 1302 or Section 1303 or
both such Sections, any provisions to permit a pledge of
obligations other than U.S. Government Obligations (or the establishment of other arrangements) to satisfy the requirements of Section 1304(1) for defeasance of such Securities and, if other
than by a Board Resolution, the manner in which any election by the Company to defease such Securities shall be evidenced; 

    (16) if
applicable, that any Securities of the series shall be issuable in whole or in part in the form of one or more Global Securities and, in such case, the
respective Depositaries for such Global Securities, the form of any legend or legends which shall be borne by any such Global Security in addition to or in lieu of that set forth in
Section 204, any addition to, elimination of or other change in the circumstances set forth in Clause (2) of the last paragraph of Section 305 in which any such Global Security
may be exchanged in whole or in part for Securities registered, and any transfer of such Global Security in whole or in part may be registered, in the name or names of Persons other than the
Depositary for such Global Security or a nominee thereof and any other provisions governing exchanges or transfers of any such Global Security; 

    (17) any
addition to, elimination of or other change in the Events of Default which applies to any Securities of the series and any change in the right of the Trustee
or the requisite Holders of such Securities to declare the principal amount thereof due and payable pursuant to Section 502; 

    (18) any
addition to, elimination of or other change in the covenants set forth in Article Ten which applies to Securities of the series; 

    (19) any
provisions necessary to permit or facilitate the issuance, payment or conversion of any Securities of the series that may be converted into securities or other
property other than Securities of the same series and of like tenor, whether in addition to, or in lieu of, any payment of principal or other amount and whether at the option of the Company or
otherwise; and 

    (20) any
other terms of the series (which terms shall not be inconsistent with the provisions of this Indenture, except as permitted by Section 901(5)). 

    All
Securities of any one series shall be substantially identical except as to denomination and except as may otherwise be provided in or pursuant to the Board Resolution referred to
above and (subject to Section 303) set forth, or determined in the manner provided, in the Officers' Certificate referred to above or in any such indenture supplemental hereto. 

    If
any of the terms of the series are established by action taken pursuant to a Board Resolution, a copy of an appropriate record of such action shall be certified by the Secretary or
an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of the Officers' Certificate setting forth the terms of the series. 

SECTION
302.  DENOMINATIONS.  

    The
Securities of each series shall be issuable only in registered form without coupons and only in such denominations as shall be specified as contemplated by Section 301. In
the absence of any such specified denomination with respect to the Securities of any series, the Securities of such series shall be issuable in denominations of $1,000 and any multiple thereof. 

SECTION
303.  EXECUTION, AUTHENTICATION, DELIVERY AND DATING.  

    The
Securities shall be executed on behalf of the Company by its Chairman of the Board, one of its Vice Chairmen of the Board, its President, one of its Sector Presidents or Vice
President or its 

17

 

Treasurer or Assistant Treasurer, under its corporate seal reproduced thereon attested by its Secretary or one of its Assistant Secretaries. The signature of any of these officers on the Securities
may be manual or facsimile. 

    Securities
bearing the manual or facsimile signatures of individuals who were at any time the proper officers of the Company shall bind the Company, notwithstanding that such
individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Securities or did not hold such offices at the date of such Securities. 

    At
any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series executed by the Company to the Trustee for
authentication, together with a Company Order for the authentication and delivery of such Securities, and the Trustee in accordance with the Company Order shall authenticate and deliver such
Securities. If the form or terms of the Securities of the series have been established by or pursuant to one or more Board Resolutions as permitted by Sections 201 and 301, in authenticating such
Securities, and accepting the additional responsibilities under this Indenture in relation to such Securities, the Trustee shall be
entitled to receive, and (subject to Section 601) shall be fully protected in relying upon, an Opinion of Counsel stating, 

    (1) if
the form of such Securities has been established by or pursuant to Board Resolution as permitted by Section 201, that such form has been established in
conformity with the provisions of this Indenture, and that all conditions precedent to the authentication and delivery of the Securities have been complied with; 

    (2) if
the terms of such Securities have been established by or pursuant to Board Resolution as permitted by Section 301, that such terms have been established
in conformity with the provisions of this Indenture, and that all conditions precedent to the authentication and delivery of the Securities have been complied with; and 

    (3) that
such Securities, when authenticated and delivered by the Trustee and issued by the Company in the manner and subject to any conditions specified in such
Opinion of Counsel, will constitute valid and legally binding obligations of the Company enforceable in accordance with their terms, subject to bankruptcy, insolvency, fraudulent transfer,
reorganization, moratorium and similar laws of general applicability relating to or affecting creditors' rights and to general equity principles. 

If
such form or terms have been so established, the Trustee shall not be required to authenticate such Securities if the issue of such Securities pursuant to this Indenture will affect the Trustee's
own rights, duties or immunities under the Securities and this Indenture or otherwise in a manner which is not reasonably acceptable to the Trustee. 

    Notwithstanding
the provisions of Section 301 and of the preceding paragraph, if all Securities of a series are not to be originally issued at one time, it shall not be
necessary to deliver the Officers' Certificate otherwise required pursuant to Section 301 or the Company Order and Opinion of Counsel otherwise required pursuant to such preceding paragraph at
or prior to the authentication of each Security of such series if such documents are delivered at or prior to the authentication upon original issuance of the first Security of such series to be
issued. 

    Each
Security shall be dated the date of its authentication. 

    No
Security shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose unless there appears on such Security a certificate of authentication
substantially in the form
provided for herein executed by the Trustee by manual signature, and such certificate upon any Security shall be conclusive evidence, and the only evidence, that such Security has been duly
authenticated and delivered hereunder. Notwithstanding the foregoing, if any Security shall have been authenticated and 

18

 

delivered hereunder but never issued and sold by the Company, and the Company shall deliver such Security to the Trustee for cancellation as provided in Section 309, for all purposes of this
Indenture such Security shall be deemed never to have been authenticated and delivered hereunder and shall never be entitled to the benefits of this Indenture. 

SECTION
304.  TEMPORARY SECURITIES.  

    Pending
the preparation of definitive Securities of any series, the Company may execute, and upon Company Order the Trustee shall authenticate and deliver, temporary Securities which
are printed, lithographed, typewritten, mimeographed or otherwise produced, in any authorized denomination, substantially of the tenor of the definitive Securities in lieu of which they are issued and
with such appropriate insertions, omissions, substitutions and other variations as the officers executing such Securities may determine, as evidenced by their execution of such Securities. 

    If
temporary Securities of any series are issued, the Company will cause definitive Securities of that series to be prepared without unreasonable delay. After the preparation of
definitive Securities of such series, the temporary Securities of such series shall be exchangeable for definitive Securities of such series upon surrender of the temporary Securities of such series
at the office or agency of the Company in a Place of Payment for that series, without charge to the Holder. Upon surrender for cancellation of any one or more temporary Securities of any series, the
Company shall execute and the Trustee shall authenticate and deliver in exchange therefor one or more definitive Securities of the same series, of any authorized denominations and of like tenor and
aggregate principal amount. Until so exchanged, the temporary Securities of any series shall in all respects be entitled to the same benefits under this Indenture as definitive Securities of such
series and tenor. 

SECTION
305.  REGISTRATION, REGISTRATION OF TRANSFER AND EXCHANGE.  

    The
Company shall cause to be kept at the Corporate Trust Office of the Trustee a register (the register maintained in such office and in any other office or agency of the Company in
a Place of Payment being herein sometimes collectively referred to as the "Security Register") in which, subject to such reasonable regulations as it may prescribe, the Company shall provide for the
registration of
Securities and of transfers of Securities. The Trustee is hereby appointed "Security Registrar" for the purpose of registering Securities and transfers of Securities as herein provided. 

    Upon
surrender for registration of transfer of any Security of a series at the office or agency of the Company in a Place of Payment for that series, the Company shall execute, and
the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Securities of the same series, of any authorized denominations and of like tenor
and aggregate principal amount. 

    At
the option of the Holder, Securities of any series may be exchanged for other Securities of the same series, of any authorized denominations and of like tenor and aggregate
principal amount, upon surrender of the Securities to be exchanged at such office or agency. Whenever any Securities are so surrendered for exchange, the Company shall execute, and the Trustee shall
authenticate and deliver, the Securities which the Holder making the exchange is entitled to receive. 

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

    Every
Security presented or surrendered for registration of transfer or for exchange shall (if so required by the Company or the Trustee) be duly endorsed, or be accompanied by a
written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed, by the Holder thereof or his attorney duly authorized in writing. 

19

 

    No service charge shall be made for any registration of transfer or exchange of Securities, but the Company may require payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in connection with any registration of transfer or exchange of Securities, other than exchanges pursuant to Section 304, 906 or 1107 not involving any
transfer. 

    If
the Securities of any series (or of any series and specified tenor) are to be redeemed in part, the Company shall not be required (A) to issue, register the transfer of or
exchange any Securities of that series (or of that series and specified tenor, as the case may be) during a period beginning at the opening of business 15 days before the day of the mailing of
a notice of redemption of any such Securities selected for redemption under Section 1103 and ending at the close of business on the day of
such mailing, or (B) to register the transfer of or exchange any Security so selected for redemption in whole or in part, except the unredeemed portion of any Security being redeemed in part. 

    The
provisions of Clauses (1), (2), (3) and (4) below shall apply only to Global Securities: 

    (1) Each
Global Security authenticated under this Indenture shall be registered in the name of the Depositary designated for such Global Security or a nominee thereof
and delivered to such Depositary or a nominee thereof or custodian therefor, and each such Global Security shall constitute a single Security for all purposes of this Indenture. 

    (2) Notwithstanding
any other provision in this Indenture, and subject to such applicable provisions, if any, as may be specified as contemplated by Section 301,
no Global Security may be exchanged in whole or in part for Securities registered, and no transfer of a Global Security in whole or in part may be registered, in the name of any Person other than the
Depositary for such Global Security or a nominee thereof unless (A) such Depositary has notified the Company that it (i) is unwilling or unable to continue as Depositary for such Global
Security or (ii) has ceased to be a clearing agency registered under the Exchange Act, (B) there shall have occurred and be continuing an Event of Default with respect to such Global
Security or (C) the Company has executed and delivered to the Trustee a Company Order stating that such Global Security shall be exchanged in whole for Securities that are not Global Securities
(in which case such exchange shall promptly be effected by the Trustee). If the Company receives a notice of the kind specified in Clause (A) above or has delivered a Company Order of the kind
specified in Clause (C) above, it may, in its sole discretion, designate a successor Depositary for such Global Security within 60 days after receiving such notice or delivery of such
order, as the case may be. If the Company designates a successor Depositary as aforesaid, such Global Security shall promptly be exchanged in whole for one or more other Global Securities registered
in the name of the successor Depositary, whereupon such designated successor shall be the Depositary for such successor Global Security or Global Securities and the provisions of Clauses (1), (2),
(3) and (4) of this Section shall continue to apply thereto. 

    (3) Subject
to Clause (2) above and to such applicable provisions, if any, as may be specified as contemplated by Section 301, any exchange of a Global
Security for other Securities may be made in whole or in part, and all Securities issued in exchange for a Global Security or any portion thereof shall be registered in such names as the Depositary
for such Global Security shall direct. 

    (4) Every
Security authenticated and delivered upon registration of transfer of, or in exchange for or in lieu of, a Global Security or any portion thereof, whether
pursuant to this Section, Section 304, 306, 906 or 1107 or otherwise, shall be authenticated and delivered in the form of, and shall be, a Global Security, unless such Security is registered in
the name of a Person other than the Depositary for such Global Security or a nominee thereof. 

20

 

SECTION
306.  MUTILATED, DESTROYED, LOST AND STOLEN SECURITIES.  

    If
any mutilated Security is surrendered to the Trustee, the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor a new Security of the same
series and of like tenor and principal amount and bearing a number not contemporaneously outstanding. 

    If
there shall be delivered to the Company and the Trustee (i) evidence to their satisfaction of the destruction, loss or theft of any Security and (ii) such security or
indemnity as may be required by them to save each of them and any agent of either of them harmless, then, in the absence of notice to the Company or the Trustee that such Security has been acquired by
a bona fide purchaser, the Company shall execute and the Trustee shall authenticate and deliver, in lieu of any such destroyed, lost or stolen Security, a new Security of the same series and of like
tenor and principal amount and bearing a number not contemporaneously outstanding. 

    In
case any such mutilated, destroyed, lost or stolen Security has become or is about to become due and payable, the Company in its discretion may, instead of issuing a new Security,
pay such Security. 

    Upon
the issuance of any new Security under this Section, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in
relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith. 

    Every
new Security of any series issued pursuant to this Section in lieu of any destroyed, lost or stolen Security shall constitute an original additional contractual obligation of
the Company, whether or not the destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately
with any and all other Securities of that series duly issued hereunder. 

    The
provisions of this Section are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated,
destroyed, lost or stolen Securities. 

SECTION
307.  PAYMENT OF INTEREST; INTEREST RIGHTS PRESERVED.  

    Except
as otherwise provided as contemplated by Section 301 with respect to any Securities of a series, interest on any Security which is payable, and is punctually paid or
duly provided for, on any Interest Payment Date shall be paid to the Person in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular
Record Date for such interest (or, if no business is conducted by the Trustee at its Corporate Trust Office on such date, at 5:00 P.M. New York City time on such date). 

    Any
interest on any Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called "Defaulted Interest") shall
forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may 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 payable on any Securities of a series to the Persons in whose names such Securities (or their
respective Predecessor Securities) 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 of such Securities and the date of the proposed payment, and at the same time the Company
shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for
such deposit prior to the date of the proposed payment, such money when deposited to be held in 

21

 

trust for the benefit of the Persons entitled to such Defaulted Interest as in this Clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest
which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice
of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, 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 given to each Holder of such Securities in the manner set forth in Section 106, not less than 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 such Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following
Clause (2). 

    (2) The
Company may make payment of any Defaulted Interest on any Securities of a series in any other lawful manner not inconsistent with the requirements of any
securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, 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. 

    Except
as may otherwise be provided in this Section 307 or as contemplated in Section 301 with respect to any Securities of a series, the Person to whom interest shall
be payable on any Security that first becomes payable on a day that is not an Interest Payment Date shall be the Holder of such Security on the day such interest is paid. 

    Subject
to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security
shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security. 

    In
the case of any Security which is converted after any Regular Record Date and on or prior to the next succeeding Interest Payment Date (other than any Security whose Maturity is
prior to such Interest Payment Date), interest whose Stated Maturity is on such Interest Payment Date shall be payable on such Interest Payment Date notwithstanding such conversion, and such interest
(whether or not punctually paid or duly provided for) shall be paid to the Person in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on such
Regular Record Date. Except as otherwise expressly provided in the immediately preceding sentence, in the case of any Security which is converted, interest whose Stated Maturity is after the date of
conversion of such Security shall not be payable. Notwithstanding the foregoing, the terms of any Security that may be converted may provide that the provisions of this paragraph do not apply, or
apply with such additions, changes or omissions as may be provided thereby, to such Security. 

SECTION
308.  PERSONS DEEMED OWNERS.  

    Prior
to due presentment of a Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name such
Security is registered as the owner of such Security for the purpose of receiving payment of principal of and any premium and (subject to Section 307) any interest on such Security and for all
other purposes whatsoever, whether or not such Security be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the contrary. 

22

  

SECTION
309.  CANCELLATION.  

    All
Securities surrendered for payment, redemption, registration of transfer or exchange or conversion or for credit against any sinking fund payment shall, if surrendered to any
Person other than the Trustee, be delivered to the Trustee and shall be promptly canceled by it. The Company may at any time deliver to the Trustee for cancellation any Securities previously
authenticated and delivered hereunder which the Company may have acquired in any manner whatsoever, and may deliver to the Trustee (or to any other Person authorized in writing by any Holder for
delivery to the Trustee) for cancellation any Securities previously authenticated hereunder which the Company has not issued and sold, and all Securities so delivered shall be promptly canceled by the
Trustee. No Securities shall be authenticated in lieu of or in exchange for any Securities canceled as provided in this Section, except as expressly permitted by this Indenture. All canceled
Securities held by the Trustee shall be disposed of as directed by a Company Order. 

SECTION
310.  COMPUTATION OF INTEREST.  

    Except
as otherwise specified as contemplated by Section 301 for Securities of any series, interest on the Securities of each series shall be computed on the basis of a
360-day year of twelve 30-day months. 

SECTION
311.  CUSIP NUMBERS.  

    The
Company in issuing the Securities may use CUSIP numbers (if then generally in use) and, if so, the Trustee shall use CUSIP numbers in notices of redemption as a convenience to
Holders, provided that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the
Securities or as contained in any notice of redemption and that reliance may be placed only on the other identification numbers printed on the Securities. Any such redemption shall not be affected by
any defect in or omission of such numbers. The Company shall promptly notify the Trustee of any change in the CUSIP numbers. 

 
 

ARTICLE FOUR    
  

 
  SATISFACTION AND DISCHARGE    
  

SECTION
401.  SATISFACTION AND DISCHARGE OF INDENTURE.  

    This
Indenture shall upon Company Request cease to be of further effect (except as to any surviving rights of conversion, registration of transfer or exchange of any Security
expressly provided for herein or in the terms of such Security), and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this
Indenture, when 

    (1) either

    (A) all
Securities theretofore authenticated and delivered (other than (i) Securities which have been destroyed, lost or stolen and which have been replaced or
paid as provided in Section 306 and (ii) Securities for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Company and thereafter repaid
to the Company or discharged from such trust, as provided in Section 1003) have been delivered to the Trustee for cancellation; or 

    (B) all
such Securities not theretofore delivered to the Trustee for cancellation 

     (i) have
become due and payable, or 

    (ii) will
become due and payable at their Stated Maturity within one year, or 

23

 

    (iii) are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name,
and at the expense, of the Company, 

and
the Company, in the case of (i), (ii) or (iii) above, has deposited or caused to be deposited with the Trustee as trust funds in trust for the purpose money in an amount sufficient
to pay and discharge the entire indebtedness on such Securities not theretofore delivered to the Trustee for cancellation, for principal and any premium and interest to the date of such deposit (in
the case of Securities which have become due and payable) or to the Stated Maturity or Redemption Date, as the case may be; 

    (2) the
Company has paid or caused to be paid all other sums payable hereunder by the Company; and 

    (3) the
Company has delivered to the Trustee an Officers' Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating
to the satisfaction and discharge of this Indenture have been complied with. 

    Notwithstanding
the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee under Section 607, the obligations of the Trustee to any
Authenticating Agent under Section 614 and, if money shall have been deposited with the Trustee pursuant to subclause (B) of Clause (1) of this Section, the obligations of the
Trustee under Section 402 and the last paragraph of Section 1003 shall survive. 

SECTION
402.  APPLICATION OF TRUST MONEY.  

    Subject
to the provisions of the last paragraph of Section 1003, all money deposited with the Trustee pursuant to Section 401 shall be held in trust and applied by it,
in accordance with the provisions of the Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the
Trustee may determine, to the Persons entitled thereto, of the principal and any premium and interest for whose payment such money has been deposited with the Trustee. All moneys deposited with the
Trustee pursuant to Section 401 (and held by it or any Paying Agent) for the payment of Securities subsequently converted shall be returned to the Company upon Company Request. 

 
 

ARTICLE FIVE    
  

 
  REMEDIES    
  

SECTION
501.  EVENTS OF DEFAULT.  

    "Event
of Default", wherever used herein with respect to Securities of any series, means any one of the following events (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): 

    (1) default
in the payment of any interest upon any Security of that series when it becomes due and payable, and continuance of such default for a period of
30 days; or 

    (2) default
in the payment of the principal of or any premium on any Security of that series at its Maturity; or 

    (3) default
in the deposit of any sinking fund payment, when and as due by the terms of a Security of that series; or 

    (4) default
in the performance, or breach, of any covenant or warranty of the Company in this Indenture (other than a covenant or warranty a default in whose
performance or whose breach is elsewhere in this Section specifically dealt with or which has expressly been included in this 

24

 

Indenture solely for the benefit of series of Securities other than that series), and continuance of such default or breach for a period of 60 days after there has been given, by registered or
certified mail, to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in principal amount of the Outstanding Securities of that series a written notice
specifying such default or breach and requiring it to be remedied and stating that such notice is a "Notice of Default" hereunder; or 

    (5) the
entry by a court having jurisdiction in the premises of (A) a decree or order for relief in respect of the Company in an involuntary case or proceeding
under any applicable Federal or State bankruptcy, insolvency, reorganization or other similar law or (B) a decree or order adjudging the Company a bankrupt or insolvent, or approving as
properly filed a petition seeking reorganization, arrangement, adjustment or composition of or in respect of the Company under any applicable Federal or State law, or appointing a custodian, receiver,
liquidator, assignee, trustee, sequestrator or other similar official of the Company or of any substantial part of its property, or ordering the winding up or liquidation of its affairs, and the
continuance of any such decree or order for relief or any such other decree or order unstayed and in effect for a period of 60 consecutive days; or 

    (6) the
commencement by the Company of a voluntary case or proceeding under any applicable Federal or State bankruptcy, insolvency, reorganization or other similar law
or of any other case or proceeding to be adjudicated a bankrupt or insolvent, or the consent by it to the entry of a decree or order for relief in respect of the Company in an involuntary case or
proceeding under any applicable Federal or State bankruptcy, insolvency, reorganization or other similar law or to the commencement of any bankruptcy or insolvency case or proceeding against it, or
the filing by it of a petition or answer or consent seeking reorganization or relief under any applicable Federal or State law, or the consent by it to the filing of such petition or to the
appointment of or taking possession by a custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar official of the Company or of any substantial part of its property, or the
making by it of an assignment for the benefit of creditors, or the admission by it in writing of its inability to pay its debts generally as they become due, or the taking of corporate action by the
Company in furtherance of any such action; or 

    (7) any
other Event of Default provided with respect to Securities of that series. 

SECTION
502.  ACCELERATION OF MATURITY; RESCISSION AND ANNULMENT.  

    If
an Event of Default (other than an Event of Default specified in Section 501(5) or 501(6)) with respect to Securities of any series at the time Outstanding occurs and is
continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount of all the
Securities of that series (or, in the case of any Security of that series which specifies an amount to be due and payable thereon upon acceleration of the Maturity thereof, such amount as may be
specified by the terms thereof) to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount
(or specified amount) shall become immediately due and payable. If an Event of Default specified in Section 501(5) or 501(6) with respect to Securities of any series at the time Outstanding
occurs, the principal amount of all the Securities of that series (or, in the case of any Security of that series which specifies an amount to be due and payable thereon upon acceleration of the
Maturity thereof, such amount as may be specified by the terms thereof) shall automatically, and without any declaration or other action on the part of the Trustee or any Holder, become immediately
due and payable. 

    At
any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been
obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the 

25

 

Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if 

    (1) the
Company has paid or deposited with the Trustee a sum sufficient to pay 

    (A) all
overdue interest on all Securities of that series, 

    (B) the
principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest
thereon at the rate or rates prescribed therefor in such Securities, 

    (C) to
the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and 

    (D) all
sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; 

    and 

    (2) all
Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have
become due solely by such declaration of acceleration, have been cured or waived as provided in Section 513. No such rescission shall affect any subsequent default or impair any right
consequent thereon. 

SECTION
503.  COLLECTION OF INDEBTEDNESS AND SUITS FOR ENFORCEMENT BY TRUSTEE.  

    The
Company covenants that if 

    (1) default
is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days,
or 

    (2) default
is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereof, 

the
Company will, upon demand of the Trustee, pay to it, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal and any premium and
interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and premium and on any overdue interest, at the rate or rates prescribed
therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel, including, without limitation, all amounts due pursuant to Section 607 hereof. 

    If
an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of
the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement
of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. 

SECTION
504.  TRUSTEE MAY FILE PROOFS OF CLAIM.  

    In
case of any judicial proceeding relative to the Company (or any other obligor upon the Securities), its property or its creditors, the Trustee shall be entitled and empowered, by
intervention in such proceeding or otherwise, to take any and all actions authorized under the Trust Indenture Act in order to have claims of the Holders and the Trustee allowed in any such
proceeding. In particular, the Trustee shall be authorized to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same; and any custodian,
receiver, assignee, trustee, liquidator, 

26

 

sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee shall consent to the
making of such payments directly to the Holders, to pay to the Trustee any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel,
and any other amounts due the Trustee under Section 607. 

    No
provision of this Indenture shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement,
adjustment or composition affecting the Securities or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding;  provided, however, that the Trustee may, on behalf of the Holders, vote for the election of a trustee in bankruptcy or similar official and be a member
of a creditors' or other similar committee. 

SECTION
505.  TRUSTEE MAY ENFORCE CLAIMS WITHOUT POSSESSION OF SECURITIES.  

    All
rights of action and claims under this Indenture or the Securities may be prosecuted and enforced by the Trustee without the possession of any of the Securities or the production
thereof in any proceeding relating thereto, and any such 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 Securities in
respect of which such judgment has been recovered. 

SECTION
506.  APPLICATION OF MONEY COLLECTED.  

    Any
money collected by the Trustee pursuant to this Article shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such
money on account of principal or any premium or interest, upon presentation of the Securities and the notation thereon of 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 607; 

    Second:
To the payment of the amounts then due and unpaid for principal of and any premium and interest on the Securities in respect of which or for the benefit of which such money
has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities for principal and any premium and interest, respectively; and 

    Third:
The balance, if any, to the Company. 

SECTION
507.  LIMITATION ON SUITS.  

    No
Holder of any Security of any series shall have any right to institute any proceeding, judicial or otherwise, with respect to this Indenture, or for the appointment of a receiver
or trustee, or for any other remedy hereunder, unless 

    (1) such
Holder has previously given written notice to the Trustee of a continuing Event of Default with respect to the Securities of that series; 

    (2) the
Holders of not less than 25% in principal amount of the Outstanding Securities of that series shall have made written request to the Trustee to institute
proceedings in respect of such Event of Default in its own name as Trustee hereunder; 

    (3) such
Holder or Holders have offered to the Trustee indemnity satisfactory to it against the costs, expenses and liabilities to be incurred in compliance with such
request; 

    (4) the
Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute any such proceeding; and 

27

 

    (5) no direction inconsistent with such written request has been given to the Trustee during such 60-day period by the Holders of a majority in principal
amount of the Outstanding Securities of that series; 

it
being understood and intended that no one or more of such Holders 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 of such Holders, or to obtain or to seek to obtain priority or preference over any other of such Holders or to enforce any right under this Indenture, except in the
manner herein provided and for the equal and ratable benefit of all of such Holders. 

SECTION
508.  UNCONDITIONAL RIGHT OF HOLDERS TO RECEIVE PRINCIPAL, PREMIUM AND INTEREST AND TO CONVERT.  

    Notwithstanding
any other provision in this Indenture, the Holder of any Security shall have the right, which is absolute and unconditional, to receive payment of the principal of and
any premium and (subject to Section 307) interest on such Security on the respective Stated Maturities expressed in such Security (or, in the case of redemption, on the Redemption Date), and,
if the terms of such Security so provide, to convert such Security in accordance with its terms, and to institute suit for the enforcement of any such payment and, if applicable, any such right to
convert, and such rights shall not be impaired without the consent of such Holder. 

SECTION
509.  RESTORATION OF RIGHTS AND REMEDIES.  

    If
the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason,
or has been determined adversely to the Trustee or to such Holder, then and in every such case, subject to any determination in such proceeding, the Company, the Trustee and the Holders shall be
restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such proceeding had been
instituted. 

SECTION
510.  RIGHTS AND REMEDIES CUMULATIVE.  

    Except
as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities in the last paragraph of Section 306, no right or
remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be
cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder,
or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy. 

SECTION
511.  DELAY OR OMISSION NOT WAIVER.  

    No
delay or omission of the Trustee or of any Holder of any Securities to exercise any right or remedy accruing upon any Event of Default shall impair any such right or remedy or
constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article or by law to the Trustee or to the Holders may be exercised from time to time,
and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 

SECTION
512.  CONTROL BY HOLDERS.  

    The
Holders of a majority in principal amount of the Outstanding Securities of any series 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 the Securities of such series, provided
that 

    (1) such
direction shall not be in conflict with any rule of law or with this Indenture; 

28

 

    (2) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction; and 

    (3) the
Trustee need not take any action which might involve it in personal liability or be unduly prejudicial to the Holders of Securities not joining therein, it
being understood that the Trustee shall have no duty to ascertain whether or not such actions or forbearances are unduly prejudicial to such Holders. 

SECTION
513.  WAIVER OF PAST DEFAULTS.  

    The
Holders of not less than a majority in principal amount of the Outstanding Securities of any series may on behalf of the Holders of all the Securities of such series waive any
past default hereunder with respect to such series and its consequences, except a default 

    (1) in
the payment of the principal of or any premium or interest on any Security of such series, or 

    (2) in
respect of a covenant or provision hereof which under Article Nine cannot be modified or amended without the consent of the Holder of each Outstanding Security
of such series affected. 

    Upon
any such waiver, 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 shall extend to any subsequent or other default or impair any right consequent thereon. 

SECTION
514.  UNDERTAKING FOR COSTS.  

    In
any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken, suffered or omitted by it as Trustee, a court may
require any party litigant in such suit to file an undertaking to pay the costs of such suit, and may assess costs, including reasonable attorneys' fees and expenses, against any such party litigant,
in the manner and to the extent provided in the Trust Indenture Act; provided that neither this Section nor the Trust Indenture Act shall be deemed to
authorize any court to require such an undertaking or to make such an assessment in any suit instituted by the Company or, if applicable, in any suit for the enforcement of the right to convert any
Security in accordance with its terms. 

SECTION
515.  WAIVER OF USURY, STAY OR EXTENSION LAWS.  

    The
Company covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage
of, any usury, stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this Indenture; and the Company (to the extent that
it may lawfully do so) hereby expressly waives all benefit or advantage of any such law and covenants that it will not 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. 

 
 

ARTICLE SIX    
  

 
  THE TRUSTEE    
  

SECTION
601.  CERTAIN DUTIES AND RESPONSIBILITIES.  

    Except
during the continuance of an Event of Default, (1) the Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture,
and no implied covenants or obligations shall be read into this Indenture against the Trustee; and (2) in the absence of bad faith on its part, the Trustee may conclusively rely, as to the
truth or the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture. 

29

 
    The duties and responsibilities of the Trustee shall be as provided by this Indenture and the Trust Indenture Act. Notwithstanding the foregoing, no provision of this Indenture shall
require the Trustee to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if
it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it. Whether or not therein expressly so
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. 

SECTION
602.  NOTICE OF DEFAULTS.  

    If
a default occurs hereunder with respect to Securities of any series, the Trustee shall upon its actual knowledge of such default give the Holders of Securities of such series
notice of such default as and to the extent provided by Section 315 of the Trust Indenture Act; provided, however, that in the case of any
default of the character specified in Section 501(4) with respect to Securities of such series, no such notice to Holders shall be given until at least 30 days after the occurrence
thereof. For the purpose of this Section, the term "default" means any event which is, or after notice or lapse of time or both would become, an Event of Default with respect to Securities of such
series. 

SECTION
603.  CERTAIN RIGHTS OF TRUSTEE, PAYING AGENT AND CONVERSION AGENT.  

    Subject
to the provisions of Section 601: 

    (1) the
Trustee, Paying Agent or Conversion Agent, as the case may be, may conclusively rely and shall be fully protected in acting or refraining from acting upon any
resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document believed
by it to be genuine and to have been signed or presented by the proper party or parties; 

    (2) any
request or direction of the Company mentioned herein shall be sufficiently evidenced by a Company Request or Company Order, and any resolution of the Board of
Directors shall be sufficiently evidenced by a Board Resolution; 

    (3) whenever
in the administration of this Indenture the Trustee, Paying Agent or Conversion Agent, as the case may be, shall deem it desirable that a matter be proved
or established prior to taking, suffering or omitting any action hereunder, the Trustee, Paying Agent or Conversion Agent, as the case may be, (unless other evidence be herein specifically prescribed)
may, in the absence of bad faith on its part, rely upon an Officers' Certificate; 

    (4) the
Trustee, Paying Agent or Conversion Agent, as the case may be, may consult with counsel of its selection and the written advice of such counsel or any Opinion
of Counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon; 

    (5) the
Trustee, Paying Agent or Conversion Agent, as the case may be, shall be under no obligation to exercise any of the rights or powers vested in it by this
Indenture at the request or direction of any of the Holders pursuant to this Indenture, unless such Holders shall have offered to the Trustee, Paying Agent or Conversion Agent, as the case may be,
security or indemnity satisfactory to it against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction; 

    (6) the
Trustee, Paying Agent or Conversion Agent, as the case may be, 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, note, other evidence of indebtedness or other paper or document, but the Trustee,
Paying Agent or 

30

 

Conversion Agent, as the case may be, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee, Paying Agent or Conversion
Agent, as the case may be, 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; 

    (7) the
Trustee, Paying Agent or Conversion Agent, as the case may be, may execute any of the trusts or powers hereunder or perform any duties hereunder either directly
or by or through agents or attorneys and the Trustee, Paying Agent or Conversion Agent, as the case may be, shall not be responsible for any misconduct or negligence on the part of any agent or
attorney appointed with due care by it hereunder; 

    (8) the
Trustee, Paying Agent or Conversion Agent, as the case may be, shall not be liable for any action taken, suffered or omitted by it in good faith and believed by
it to be authorized or within the discretion or rights of powers conferred upon it by this Indenture or any action taken, suffered or omitted by it pursuant to a direction of the Company or any
Holders pursuant to the provisions of this Indenture; and 

    (9) whenever
in the performance of its duties under the Indenture, Trustee, Paying Agent or Conversion Agent, as the case may be, shall deem it necessary or desirable
that any fact or matter be proved or established by the Company prior to taking, suffering or omitting any action hereunder, such fact or matter (unless other evidence in respect thereof be herein
specifically prescribed) may be deemed to be conclusively proved and established by a certificate signed by the President and Chief Executive Officer and by the Treasurer or any Assistant Treasurer or
the Secretary or any Assistant Secretary of the Company and delivered to the Trustee, Paying Agent or Conversion Agent, as the case may be; and such certificate shall be full authorization and
protection to the Trustee, Paying Agent or Conversion Agent, as the case may be, and the Trustee, Paying Agent and Conversion Agent shall incur no liability for or in respect of any action taken,
suffered or omitted in good faith by it under the provisions of the Indenture in reliance upon such certificate. 

SECTION
604.  NOT RESPONSIBLE FOR RECITALS OR ISSUANCE OF SECURITIES.  

    The
recitals contained herein and in the Securities, except the Trustee's certificates of authentication, shall be taken as the statements of the Company, and the Trustee does not
assume any responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Securities, except that the Trustee represents that
it is duly authorized to execute and deliver this Indenture, authenticate the Securities and perform its obligations hereunder and that the statements made by it in a Statement of Eligibility on
Form T-1 supplied to the Company are true and accurate, subject to the qualifications set forth therein. Neither the Trustee nor any Authenticating Agent shall be accountable for
the use or application by the Company of Securities or the proceeds thereof. 

SECTION
605.  MAY HOLD SECURITIES.  

    The
Trustee, any Authenticating Agent, any Paying Agent, any Conversion Agent, any Security Registrar or any other agent of the Company, in its individual or any other capacity, may
become the owner or pledgee of Securities and, subject to Sections 608 and 613, may otherwise deal with the Company with the same rights it would have if it were not Trustee, Paying Agent,
Authenticating Agent, Security Registrar or such other agent. 

31

 

SECTION 606.  MONEY HELD IN TRUST.  

    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 otherwise agreed in writing with the Company. 

SECTION
607.  COMPENSATION AND REIMBURSEMENT.  

    The
Company agrees 

    (1) to
pay to the Trustee, Paying Agent or Conversion Agent, as the case may be, from time to time reasonable compensation for all services rendered by it hereunder
(which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust); 

    (2) except
as otherwise expressly provided herein, to reimburse the Trustee, Paying Agent or Conversion Agent, as the case may be, upon its request for all reasonable
expenses, disbursements and advances incurred or made by the Trustee, Paying Agent or Conversion Agent, as the case may be, in accordance with any provision of this Indenture (including the reasonable
compensation and the expenses and disbursements of its agents and counsel), except any such expense, disbursement or advance as may be attributable to its negligence or bad faith; and 

    (3) to
indemnify each of the Trustee, Paying Agent or Conversion Agent, as the case may be, or any predecessor thereto for, and to hold it harmless against, any loss,
liability or expense incurred without negligence or bad faith on its part, arising out of or in connection with the acceptance or administration of the trust or trusts hereunder, including the costs
and expenses of defending itself against any claim or liability in connection with the exercise or performance of any of its powers or duties hereunder. 

    This
Section 607 shall survive the termination of the Indenture, as supplemented by any supplemental indenture, or the earlier resignation or removal of the Trustee, Paying
Agent or Conversion Agent, as the case may be. To secure the Company's payment obligations in this Section 607, the Trustee, Paying
Agent or Conversion Agent, as the case may be, shall have a lien prior to the Securities on all money or property held or collected by the Trustee, in its capacity as Trustee, Paying Agent or
Conversion Agent, as the case may be, except money or property held in trust to pay principal of, and interest on, particular securities. 

SECTION
608.  CONFLICTING INTERESTS.  

    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. To the extent permitted by the Trust Indenture Act, the Trustee shall not be deemed to have a
conflicting interest by virtue of being a trustee under this Indenture with respect to Securities of more than one series. 

SECTION
609.  CORPORATE TRUSTEE REQUIRED; ELIGIBILITY.  

    There
shall at all times be one (and only one) Trustee hereunder with respect to the Securities of each series, which may be Trustee hereunder for Securities of one or more other
series. Each Trustee shall be a Person that is eligible pursuant to the Trust Indenture Act to act as such, has a combined capital and surplus of at least $50,000,000 and has its Corporate Trust
Office in the Borough of Manhattan, The City of New York. If any such Person publishes reports of condition at least annually, pursuant to law or to the requirements of its supervising or examining
authority, then for the purposes of this Section and to the extent permitted by the Trust Indenture Act, 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 with respect to the Securities of any 

32

 

series 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
610.  RESIGNATION AND REMOVAL; APPOINTMENT OF SUCCESSOR.  

    No
resignation or removal of the Trustee, Paying Agent or Conversion Agent, as the case may be, and no appointment of a successor Trustee, successor Paying Agent or successor
Conversion Agent, as the case may be, pursuant to this Article shall become effective until the acceptance of appointment by the
successor Trustee, successor Paying Agent or successor Conversion Agent, as the case may be, in accordance with the applicable requirements of Section 611. 

    The
Trustee, Paying Agent or Conversion Agent, as the case may be, may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the
Company. If the instrument of acceptance by a successor Trustee, successor Paying Agent or successor Conversion Agent, as the case may be, required by Section 611 shall not have been delivered
to the Trustee, Paying Agent or Conversion Agent, as the case may be, within 30 days after the giving of such notice of resignation, the resigning Trustee, Paying Agent or Conversion Agent, as
the case may be, may petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor Trustee, successor Paying Agent or successor Conversion Agent, as
the case may be, with respect to the Securities of such series. 

    The
Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such
series, delivered to the Trustee and to the Company. 

    If
at any time: 

    (1) the
Trustee shall fail to comply with Section 608 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a
Security for at least six months, or 

    (2) the
Trustee shall cease to be eligible under Section 609 and shall fail to resign after written request therefor by the Company or by any such Holder, or 

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

then,
in any such case, (A) the Company by a Board Resolution may remove the Trustee, Paying Agent or Conversion Agent, as the case may be, with respect to all Securities, or (B) subject
to Section 514, any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent
jurisdiction for the removal of the
Trustee, Paying Agent or Conversion Agent, as the case may be, with respect to all Securities and the appointment of a successor or successors to the Trustee, Paying Agent, or Conversion Agent, as the
case may be. 

    If
the Trustee, Paying Agent or Conversion Agent shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee, Paying Agent or
Conversion Agent for any cause, with respect to the Securities of one or more series, the Company, by a Board Resolution, shall promptly appoint a successor or successors to the Trustee, Paying Agent,
or Conversion Agent, as the case may be, with respect to the Securities of that or those series (it being understood that any such successor Trustee, successor Paying Agent or successor Conversion
Agent, as the case may be, may be appointed with respect to the Securities of one or more or all of such series and that at any time there 

33

 

shall be only one Trustee, Paying Agent or Conversion Agent, as the case may be, with respect to the Securities of any particular series) and shall comply with the applicable requirements of
Section 611. If, within one year after such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee, successor Paying Agent or successor Conversion Agent,
as the case may be, with respect to the Securities of any series shall be appointed by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series delivered to
the Company and the retiring Trustee, Paying Agent or Conversion Agent, as the case may be, the successor Trustee, successor Paying Agent or successor Conversion Agent, as the case may be, so
appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 611, become the successor Trustee, successor Paying Agent or
successor Conversion Agent, as the case may be, with respect to the Securities of such series and to that extent supersede the successor Trustee, successor Paying Agent or successor Conversion Agent,
as the case may be, appointed by the Company. If no successor Trustee, successor Paying Agent or successor Conversion Agent, as the case may be, with respect to the Securities of any series shall have
been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 611, any Holder who has been a bona fide Holder of a Security of such series for at
least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee, successor Paying Agent or
successor Conversion Agent, as the case may be, with respect to the Securities of such series. 

    The
Company shall give notice of each resignation and each removal of the Trustee, Paying Agent or Conversion Agent with respect to the Securities of any series and each appointment
of a successor Trustee, successor Paying Agent or successor Conversion Agent, as the case may be, with respect to the Securities of any series to all Holders of Securities of such series in the manner
provided in Section 106. Each notice shall include the name of the successor Trustee, successor Paying Agent or successor Conversion Agent, as the case may be, with respect to the Securities of
such series and the address of its Corporate Trust Office. 

SECTION
611.  ACCEPTANCE OF APPOINTMENT BY SUCCESSOR.  

    In
case of the appointment hereunder of a successor Trustee, successor Paying Agent or successor Conversion Agent with respect to all Securities, every such successor Trustee,
successor Paying Agent or successor Conversion Agent so appointed shall execute, acknowledge and deliver to the Company and to the retiring Trustee, Paying Agent or Conversion Agent, as the case may
be, an instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee, Paying Agent or Conversion Agent, as the case may be, shall become effective and such
successor Trustee, successor Paying Agent or successor Conversion Agent without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring
Trustee, Paying Agent or Conversion Agent, as the case may be; but, on the request of the Company or the successor Trustee, successor Paying Agent or successor Conversion Agent, such retiring Trustee,
Paying Agent or Conversion Agent, as the case may be, shall, upon payment of its charges, execute and deliver an instrument transferring to such successor Trustee, successor Paying Agent or successor
Conversion Agent, as the case may be, all the rights, powers and trusts of the retiring Trustee, Paying Agent or Conversion Agent and shall duly assign, transfer and deliver to such successor Trustee,
successor Paying Agent or successor Conversion Agent, as the case may be, all property and money held by such retiring Trustee, Paying Agent or Conversion Agent hereunder. 

    In
case of the appointment hereunder of a successor Trustee, successor Paying Agent or successor Conversion Agent with respect to the Securities of one or more (but not all) series,
the Company, the retiring Trustee, Paying Agent or Conversion Agent, as the case may be, and each successor Trustee, successor Paying Agent or successor Conversion Agent with respect to the Securities
of one or more series shall execute and deliver an indenture supplemental hereto wherein each successor Trustee, successor Paying Agent or successor Conversion Agent, as the case may be, shall accept
such 

34

 

appointment and which (1) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor Trustee, successor Paying Agent or
successor Conversion Agent, as the case may be, all the rights, powers, trusts and duties of the retiring Trustee, Paying Agent or Conversion Agent, as the case may be, with respect to the Securities
of that or those series to which the appointment of such successor Trustee, successor Paying Agent or successor Conversion Agent, as the case may be, relates, (2) if the retiring Trustee,
Paying Agent or Conversion Agent, as the case may be, is not retiring with respect to all Securities, shall contain such provisions as shall be deemed necessary or desirable to confirm that all the
rights, powers, trusts and duties of the retiring Trustee, Paying Agent or Conversion Agent, as the case may be, with respect to the Securities of that or those series as to which the retiring
Trustee, Paying Agent or Conversion Agent, as the case may be, is not retiring shall continue to be vested in the retiring Trustee, Paying Agent or Conversion Agent, as the case may be, and
(3) shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, Paying
Agent or Conversion Agent, as the case may be, it being understood that nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust and
that each such Trustee, Paying Agent or Conversion Agent, as the case may be, shall be trustee of a trust or trusts
hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee, Paying Agent or Conversion Agent, as the case may be; and upon the execution and delivery of
such supplemental indenture the resignation or removal of the retiring Trustee, Paying Agent or Conversion Agent, as the case may be, shall become effective to the extent provided therein and each
such successor Trustee, successor Paying Agent or successor Conversion Agent, as the case may be, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts
and duties of the retiring Trustee, Paying Agent or Conversion Agent, as the case may be, with respect to the Securities of that or those series to which the appointment of such successor Trustee,
successor Paying Agent or successor Conversion Agent, as the case may be, relates; but, on request of the Company or any successor Trustee, successor Paying Agent or successor Conversion Agent, as the
case may be, such retiring Trustee, Paying Agent or Conversion Agent, as the case may be, shall duly assign, transfer and deliver to such successor Trustee, successor Paying Agent or successor
Conversion Agent, as the case may be, all property and money held by such retiring Trustee, Paying Agent or Conversion Agent, as the case may be, hereunder with respect to the Securities of that or
those series to which the appointment of such successor Trustee, successor Paying Agent or successor Conversion Agent, as the case may be, relates. 

    Upon
request of any such successor Trustee, successor Paying Agent or successor Conversion Agent the Company shall execute any and all instruments for more fully and certainly vesting
in and confirming to such successor Trustee, successor Paying Agent or successor Conversion Agent, as the case may be, all such rights, powers and trusts referred to in the first or second preceding
paragraph, as the case may be. 

    No
successor Trustee, successor Paying Agent or successor Conversion Agent shall accept its appointment unless at the time of such acceptance such successor Trustee, successor Paying
Agent or successor Conversion Agent, as the case may be, shall be qualified and eligible under this Article. 

SECTION
612.  MERGER, CONVERSION, CONSOLIDATION OR SUCCESSION TO BUSINESS.  

    Any
corporation into which the Trustee, Paying Agent or Conversion Agent may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger,
conversion or consolidation to which the Trustee, Paying Agent or Conversion Agent, as the case may be, shall be a party, or any corporation succeeding to all or substantially all the corporate trust
business of the Trustee, Paying Agent or Conversion Agent, as the case may be, shall be the successor of the Trustee, Paying Agent or Conversion Agent, as the case may be, hereunder, provided such
corporation shall be otherwise qualified and eligible under this Article, without the execution or filing of any paper or any further act on the part of any of the parties hereto. In case any
Securities shall have been 

35

 

authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication and deliver the
Securities so authenticated with the same effect as if such successor Trustee had itself authenticated such Securities. 

SECTION
613.  PREFERENTIAL COLLECTION OF CLAIMS AGAINST COMPANY.  

    If
and when the Trustee shall be or become a creditor of the Company (or any other obligor upon the Securities), the Trustee shall be subject to the provisions of the Trust Indenture
Act regarding the collection of claims against the Company (or any such other obligor). 

SECTION
614.  APPOINTMENT OF AUTHENTICATING AGENT.  

    The
Trustee may appoint an Authenticating Agent or Agents with respect to one or more series of Securities which shall be authorized to act on behalf of the Trustee to authenticate
Securities of such series issued upon original issue and upon exchange, registration of transfer or partial redemption thereof or pursuant to Section 306, and Securities so authenticated shall
be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. Wherever reference is made in this Indenture to the
authentication and delivery of Securities by the Trustee or the Trustee's certificate of authentication, such reference shall be deemed to include authentication and delivery on behalf of the Trustee
by an Authenticating Agent and a certificate of authentication executed on behalf of the Trustee by an Authenticating Agent. Each Authenticating Agent shall be acceptable to the Company and shall at
all times be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to act as
Authenticating Agent, having a combined capital and surplus of not less than $50,000,000 and subject to supervision or examination by Federal or State authority. If such Authenticating Agent publishes
reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of
such Authenticating Agent 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 an Authenticating Agent shall cease to
be eligible in accordance with the provisions of this Section, such Authenticating Agent shall resign immediately in the manner and with the effect specified in this Section. 

    Any
corporation into which an Authenticating Agent may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or
consolidation to which such Authenticating Agent shall be a party, or any corporation succeeding to the corporate agency or corporate trust business of an Authenticating Agent, shall continue to be an
Authenticating Agent,
provided such corporation shall be otherwise eligible under this Section, without the execution or filing of any paper or any further act on the part of the Trustee or the Authenticating Agent. 

    An
Authenticating Agent may resign at any time by giving written notice thereof to the Trustee and to the Company. The Trustee may at any time terminate the agency of an
Authenticating Agent by giving written notice thereof 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
such Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, the Trustee may appoint a successor Authenticating Agent which shall be acceptable to the
Company and shall give notice of such appointment in the manner provided in Section 106 to all Holders of Securities of the series with respect to which such Authenticating Agent will serve.
Any successor Authenticating Agent upon acceptance of its appointment hereunder shall become vested with all the rights, powers and duties of its predecessor hereunder, with like effect as if
originally named as an Authenticating Agent. No successor Authenticating Agent shall be appointed unless eligible under the provisions of this Section. 

36

  

    The
Trustee agrees to pay to each Authenticating Agent from time to time reasonable compensation for its services under this Section, and the Trustee shall be entitled to be
reimbursed for such payments, subject to the provisions of Section 607. 

    If
an appointment with respect to one or more series is made pursuant to this Section, the Securities of such series may have endorsed thereon, in addition to the Trustee's
certificate of authentication, an alternative certificate of authentication in the following form: 

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

	 	 	 	 	
 ,
	 	 	 	 	AS TRUSTEE
	

 	
 	

By	
 	

 
	 	 	 	 	
 ,
	 	 	 	 	AS AUTHENTICATING AGENT
	

 	
 	

By	
 	

 
	 	 	 	 	

	 	 	 	 	AUTHORIZED OFFICER

 
 

ARTICLE SEVEN    
  

 
  HOLDERS' LISTS AND REPORTS BY TRUSTEE AND COMPANY    
  

SECTION
701.  COMPANY TO FURNISH TRUSTEE NAMES AND ADDRESSES OF HOLDERS.  

    The
Company will furnish or cause to be furnished to the Trustee 

    (1) semi-annually,
not later than January 15 and July 15 in each year, a list, in such form as the Trustee may reasonably require, of the
names and addresses of the Holders of Securities of each series as of the immediately preceding December 31 or June 30, as the case may be, and 

    (2) at
such other times as the Trustee may request in writing, within 30 days after the receipt by the Company of any such request, a list of similar form and
content as of a date not more than 15 days prior to the time such list is furnished; 

EXCLUDING
from any such list names and addresses received by the Trustee in its capacity as Security Registrar. 

SECTION
702.  PRESERVATION OF INFORMATION; COMMUNICATIONS TO HOLDERS.  

    The
Trustee shall preserve, in as current a form as is reasonably practicable, the names and addresses of Holders contained in the most recent list furnished to the Trustee as
provided in Section 701 and the names and addresses of Holders received by the Trustee in its capacity as Security Registrar. The Trustee may destroy any list furnished to it as provided in
Section 701 upon receipt of a new list so furnished. 

    The
rights of Holders to communicate with other Holders with respect to their rights under this Indenture or under the Securities, and the corresponding rights and privileges of the
Trustee, shall be as provided by the Trust Indenture Act. 

    Every
Holder of Securities, 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 

37

 

accountable by reason of any disclosure of information as to names and addresses of Holders made pursuant to the Trust Indenture Act. 

SECTION
703.  REPORTS BY TRUSTEE.  

    Within
60 days after May 15 of each year, commencing with May 15, 2001, the Trustee shall transmit to Holders such reports 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. 

    A
copy of each such report shall, at the time of such transmission to Holders, be filed by the Trustee with each stock exchange upon which any Securities are listed, with the
Commission and with the Company. The Company will notify the Trustee when any Securities are listed on any stock exchange and of any delisting thereof. 

SECTION
704.  REPORTS BY COMPANY.  

    The
Company shall file with the Trustee and the Commission, and transmit to Holders, 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 filed with the Trustee within 15 days after the same is so required to be filed with the Commission. 

 
 

ARTICLE EIGHT    
  

 
  CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE    
  

SECTION
801.  COMPANY MAY CONSOLIDATE, ETC., ONLY ON CERTAIN TERMS.  

    The
Company shall not consolidate with or merge into any other Person or convey, transfer or lease its properties and assets substantially as an entirety to any Person, and the
Company shall not permit any Person to consolidate with or merge into the Company or convey, transfer or lease its properties and assets substantially as an entirety to the Company, unless: 

    (1) in
case the Company shall consolidate with or merge into another Person or convey, transfer or lease its properties and assets substantially as an entirety to any
Person, the Person formed by such consolidation or into which the Company is merged or the Person which acquires by conveyance or transfer, or which leases, the properties and assets of the Company
substantially as an entirety shall be a corporation, partnership or trust, shall be organized and validly existing under the laws of the United States, any State thereof or the District of Columbia
and shall expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee, in form satisfactory to the Trustee, the due and punctual payment of the principal of and any
premium and interest on all the Securities and the performance or observance of every covenant of this Indenture on the part of the Company to be performed or observed and, for each Security that by
its terms provides for conversion, shall have provided for the right to convert such Security in accordance with its terms; 

    (2) immediately
after giving effect to such transaction and treating any indebtedness which becomes an obligation of the Company or any Subsidiary as a result of such
transaction as having been incurred by the Company or such Subsidiary at the time of such transaction, no Event of Default, and no event which, after notice or lapse of time or both, would become an
Event of Default, shall have happened and be continuing; 

    (3) if,
as a result of any such consolidation or merger or such conveyance, transfer or lease, properties or assets of the Company would become subject to a pledge,
lien or other similar 

38

 

encumbrance which would not be permitted by this Indenture, the Company or such successor Person, as the case may be, shall take such steps as shall be necessary effectively to secure the Securities
equally and ratably with (or prior to) all indebtedness secured thereby; and 

    (4) the
Company has delivered to the Trustee an Officers' Certificate and an Opinion of Counsel, each stating that such consolidation, merger, conveyance, transfer or
lease and, if a supplemental indenture is required in connection with such transaction, such supplemental indenture comply with this Article and that all conditions precedent herein provided for
relating to such transaction have been complied with. 

SECTION
802.  SUCCESSOR SUBSTITUTED.  

    Upon
any consolidation of the Company with, or merger of the Company into, any other Person or any conveyance, transfer or lease of the properties and assets of the Company
substantially as an entirety in accordance with Section 801, the successor Person formed by such consolidation or into which the Company is merged or to which such conveyance, transfer or lease
is made shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor Person had been named as the
Company herein, and thereafter, except in the case of a lease, the predecessor Person shall be relieved of all obligations and covenants under this Indenture and the Securities. 

 
 

ARTICLE NINE    
  

 
  SUPPLEMENTAL INDENTURES    
  

SECTION
901.  SUPPLEMENTAL INDENTURES WITHOUT CONSENT OF HOLDERS.  

    Without
the consent of any Holders, the Company, when authorized by a Board Resolution, and the Trustee, at any time and from time to time, may enter into one or more indentures
supplemental hereto, in form satisfactory to the Trustee, for any of the following purposes: 

     (1) to
evidence the succession of another Person to the Company and the assumption by any such successor of the covenants of the Company herein and in
the Securities; or 

     (2) to
add to the covenants of the Company for the benefit of the Holders of all or any series of Securities (and if such covenants are to be for the
benefit of less than all series of Securities, stating that such covenants are expressly being included solely for the benefit of such series) or to surrender any right or power herein conferred upon
the Company; or 

     (3) to
add any additional Events of Default for the benefit of the Holders of all or any series of Securities (and if such additional Events of Default
are to be for the benefit of less than all series of Securities, stating that such additional Events of Default are expressly being included solely for the benefit of such series); or 

     (4) to
add to or change any of the provisions of this Indenture to such extent as shall be necessary to permit or facilitate the issuance of Securities
in bearer form, registrable or not registrable as to principal, and with or without interest coupons, or to permit or facilitate the issuance of Securities in uncertificated form; or 

     (5) to
add to, change or eliminate any of the provisions of this Indenture in respect of one or more series of Securities,  provided that any such addition, change or elimination (A) shall neither (i)
 apply to any Security of any series created prior to the
execution of such supplemental indenture and entitled to the benefit of such provision nor (ii) modify the rights of the Holder of any such Security with respect to such provision or
(B) shall become effective only when there is no such Security Outstanding; or 

39

 

     (6) to secure the Securities pursuant to the requirements of Section 801(3) or Section 1008 or otherwise; or 

     (7) to
establish the form or terms of Securities of any series as permitted by Sections 201 and 301; or 

     (8) to
evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to the Securities of one or more series and
to add to or change any of the provisions of this
Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, pursuant to the requirements of Section 611; or 

     (9) to
add to or change any of the provisions of this Indenture with respect to any Securities that by their terms may be converted into securities or
other property other than Securities of the same series and of like tenor, in order to permit or facilitate the issuance, payment or conversion of such Securities; or 

    (10) to
cure any ambiguity, to correct or supplement any provision herein which may be defective or inconsistent with any other provision herein, or to make any other
provisions with respect to matters or questions arising under this Indenture, provided that such action pursuant to this Clause (9) shall not
adversely affect the interests of the Holders of Securities of any series in any material respect. 

SECTION
902.  SUPPLEMENTAL INDENTURES WITH CONSENT OF HOLDERS.  

    With
the consent of the Holders of a majority in principal amount of the Outstanding Securities of all series affected by such supplemental indenture (considered together as one class
for this purpose), by Act of said Holders delivered to the Company and the Trustee, the Company, when authorized by a Board Resolution, and the Trustee may 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 of modifying in any manner the rights of the Holders
of Securities of such series under this Indenture; provided, however, that no such supplemental indenture shall, without the consent of the Holder of
each Outstanding Security affected thereby, 

    (1) change
the Stated Maturity of the principal of, or any instalment of principal of or interest on, any Security, or reduce the principal amount thereof or the rate
of interest thereon or any premium payable upon the redemption thereof, or reduce the amount of the principal of an Original Issue Discount Security or any other Security which would be due and
payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 502, or permit the Company to redeem any Security if, absent such supplemental indenture, the Company
would not be permitted to do so, or change any Place of Payment where, or the coin or currency in which, any Security or any premium or interest thereon is payable, or impair the right to institute
suit for the enforcement of any such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date), or 

    (2) if
any Security provides that the Holder may require the Company to repurchase or convert such Security, impair such Holder's right to require repurchase or
conversion of such Security on the terms provided therein, or 

    (3) reduce
the percentage in principal amount of the Outstanding Securities of any one or more series (considered separately or together as one class, as applicable),
the consent of whose Holders is required for any such supplemental indenture, or the consent of whose Holders is required for any waiver (of compliance with certain provisions of this Indenture or
certain defaults hereunder and their consequences) provided for in this Indenture, or 

    (4) modify
any of the provisions of this Section, Section 513 or Section 1010, except to increase any such percentage or to provide that certain other
provisions of this Indenture cannot 

40

 

be modified or waived without the consent of the Holder of each Outstanding Security affected thereby; provided, however, that this clause shall not be
deemed to require the consent of any Holder with respect to changes in the references to "the Trustee" and concomitant changes in this Section and Section 1010, or the deletion of this proviso,
in accordance with the requirements of Sections 611 and 901(8). 

A
supplemental indenture which changes or eliminates any covenant or other provision of this Indenture which has expressly been included solely for the benefit of one or more particular series of
Securities, or which modifies the rights of the Holders of Securities of such series with respect to such covenant or other provision, shall be deemed not to affect the rights under this Indenture of
the Holders of Securities of any other series. 

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

SECTION
903.  EXECUTION OF SUPPLEMENTAL INDENTURES.  

    In
executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article or the modifications thereby of the trusts created by this Indenture,
the Trustee shall be entitled to receive, and (subject to Section 601) shall be fully protected in relying upon, an Opinion of
Counsel stating that the execution of such supplemental indenture is authorized or permitted by this Indenture. The Trustee may, but shall not be obligated to, enter into any such supplemental
indenture which affects the Trustee's own rights, duties or immunities under this Indenture or otherwise. No supplemental indenture shall modify this Section 903 without the prior written
consent of the Trustee. 

SECTION
904.  EFFECT OF SUPPLEMENTAL INDENTURES.  

    Upon
the execution of any supplemental indenture under this Article, this Indenture shall be modified in accordance therewith, and such supplemental indenture shall form a part
of this Indenture for all purposes; and every Holder of Securities theretofore or thereafter authenticated and delivered hereunder shall be bound thereby. 

SECTION
905.  CONFORMITY WITH TRUST INDENTURE ACT.  

    Every
supplemental indenture executed pursuant to this Article shall conform to the requirements of the Trust Indenture Act. 

SECTION
906.  REFERENCE IN SECURITIES TO SUPPLEMENTAL INDENTURES.  

    Securities
of any series authenticated and delivered after the execution of any supplemental indenture pursuant to this Article may, at the option of the Company, bear a notation as
to any matter provided for in such supplemental indenture. If the Company shall so determine, new Securities of any series so modified as to conform, in the opinion of the Company, to any such
supplemental indenture may be prepared and executed by the Company and authenticated and delivered by the Trustee in exchange for Outstanding Securities of such series. 

 
 

ARTICLE TEN    
  

 
  COVENANTS    
  

SECTION
1001.  PAYMENT OF PRINCIPAL, PREMIUM AND INTEREST.  

    The
Company covenants and agrees for the benefit of each series of Securities that it will duly and punctually pay the principal of and any premium and interest on the Securities of
that series in accordance with the terms of the Securities and this Indenture. 

41

 

SECTION 1002.  MAINTENANCE OF OFFICE OR AGENCY.  

    The
Company will maintain in each Place of Payment for any series of Securities an office or agency where Securities of that series may be presented or surrendered for payment, where
Securities of that series may be surrendered for registration of transfer or exchange, where Securities may be surrendered for conversion and where notices and demands to or upon the Company in
respect of the Securities of that series 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. 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 of the Trustee, and the Company hereby appoints the Trustee as its agent to receive all such presentations, surrenders, notices and demands. 

    The
Company may also from time to time designate one or more other offices or agencies where the Securities of one or more series may be presented or surrendered for any or all such
purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner relieve the
Company of its obligation to maintain an office or agency in each Place of Payment for Securities of any series 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. 

    With
respect to any Global Security, and except as otherwise may be specified for such Global Security as contemplated by Section 301, the Corporate Trust Office of the Trustee
shall be the Place of Payment where such Global Security may be presented or surrendered for payment or for registration of transfer or exchange, or where successor Securities may be delivered in
exchange therefor, provided, however, that any such payment, presentation, surrender or delivery effected pursuant to the Applicable
Procedures of the Depositary for such Global Security shall be deemed to have been effected at the Place of Payment for such Global Security in accordance with the provisions of this Indenture. 

SECTION
1003.  MONEY FOR SECURITIES PAYMENTS TO BE HELD IN TRUST.  

    If
the Company shall at any time act as its own Paying Agent with respect to any series of Securities, it will, on or before each due date of the principal of or any premium or
interest on any of the Securities of that series, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal and any premium and interest so
becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act. 

    Whenever
the Company shall have one or more Paying Agents for any series of Securities, it will, prior to each due date of the principal of or any premium or interest on any
Securities of that series, deposit (or, if the Company has deposited any trust funds with a trustee pursuant to Section 1304(1), cause such trustee to deposit) with a Paying Agent a sum
sufficient to pay the principal or interest so becoming due on such amount, such sum to be held in trust for the benefit of the Persons entitled to such principal or interest as provided by the Trust
Indenture Act, and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee in writing of its action or failure so to act. 

    The
Company will cause each Paying Agent for any series of Securities other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree
with the Trustee, subject to the provisions of this Section, that such Paying Agent will (1) hold all sums held by it for the payment of the principal of or interest on securities in trust for
the benefit of the Persons entitled thereto until such sums shall be paid to such Persons or otherwise disposed of as herein provided, (2) give the Trustee notice of any default by the Company
and (3) during the continuance of any default by the Company (or any other obligor upon the Securities of that series) in the making of any payment in respect of the Securities of that series,
upon the written request of the Trustee, 

42

 

forthwith pay to the Trustee all sums held in trust by such Paying Agent for payment in respect of the Securities of that series. 

    The
Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, pay, or by Company Order direct any Paying Agent
to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same trusts as those upon which such sums were held by the Company or
such Paying
Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be released from all further liability with respect to such money. 

    Any
money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of or any premium or interest on any Security of any
series and remaining unclaimed for two years after such principal, premium or interest has become due and payable shall be paid to the Company on Company Request, or (if then held by the Company)
shall be discharged from such trust; and the Holder of such Security shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee
or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however,
that the Trustee or such Paying Agent, before being required to make any such repayment, may, at the expense of the Company, cause to be published once, in a newspaper published in the English
language, customarily published on each Business Day and of general circulation in The City of New York, notice that such money remains unclaimed and that, after a date specified therein, which shall
not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Company. 

SECTION
1004.  STATEMENT BY OFFICERS AS TO DEFAULT.  

    The
Company will deliver to the Trustee, within 120 days after the end of each fiscal year of the Company ending after the date hereof (which, as of the date hereof, is
December 31), an Officers' Certificate, stating whether or not, to the best knowledge of the signers thereof, the Company is in default in the performance and observance of any of the terms,
provisions and conditions of this Indenture (without regard to any period of grace or requirement of notice provided hereunder) and, if the Company shall be in default, specifying all such defaults
and the nature and status thereof of which they may have knowledge. 

SECTION
1005.  EXISTENCE.  

    Subject
to Article Eight, the Company will do or cause to be done all things necessary to preserve and keep in full force and effect its existence, rights (charter and statutory) and
franchises; provided, however, that the Company shall not be required to preserve any such right or franchise if the Board of Directors shall determine
that the preservation thereof is no longer desirable in the conduct of the business of the Company and its Subsidiaries taken as a whole. 

SECTION
1006.  MAINTENANCE OF PRINCIPAL DOMESTIC MANUFACTURING PROPERTIES.  

    The
Company will cause all Principal Domestic Manufacturing Properties to be maintained and kept in good condition, repair and working order and supplied with all necessary equipment
and will cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereof, all as in the judgment of the Company may be necessary so that the business carried on in
connection therewith may be properly and advantageously conducted at all times; provided, however, that nothing in this Section shall prevent or
restrict the sale, abandonment or other disposition of any of such properties if such action is, in the judgment of the Company, desirable in the conduct of its business of the Company and its
Subsidiaries taken as a whole. 

43

 

SECTION 1007.  PAYMENT OF TAXES AND OTHER CLAIMS.  

    The
Company will pay or discharge or cause to be paid or discharged, before the same shall become delinquent, (1) all taxes, assessments and governmental charges levied or
imposed upon the Company or any Subsidiary or upon the income, profits or property of the Company or any Subsidiary, and (2) all lawful claims for labor, materials and supplies which, if
unpaid, might by law become a lien upon the property of the Company or any Subsidiary; provided, however, that the Company shall not be required to pay
or discharge or cause to be paid or discharged any such tax, assessment, charge or claim whose amount, applicability or validity is being contested in good faith by appropriate proceedings. 

SECTION
1008.  LIMITATION ON LIENS.  

    The
Company will not itself, and will not permit any Domestic Subsidiary to, incur, issue, assume or guarantee any notes, bonds, debentures or other similar evidences of indebtedness
for money borrowed (notes, bonds, debentures or other similar evidences of indebtedness for money borrowed being hereinafter in this article called "Debt"), secured by pledge of, or mortgage or other
lien on, any Principal Domestic Manufacturing Property of the Company or any Domestic Subsidiary or any shares of stock or Debt of any Domestic Subsidiary (pledges, mortgages and other liens being
hereinafter in this article called "Mortgage" or "Mortgages"), without effectively providing that the Securities (together with, if the Company shall so determine, any other Debt of the Company or
such Domestic Subsidiary then existing or thereafter created which is not subordinate to the Securities) shall be secured equally and ratably with (or prior to) such secured Debt (for the purpose of
providing such equal and ratable security the principal amount of the Securities shall mean and shall not be less than that principal amount which could be declared to be due and payable pursuant to
Section 502 on the date of the making of such effective provision and the extent of such equal and ratable security shall be
adjusted, to the extent permitted by law, as and when said principal amount changes over time pursuant to Section 502 and any other provision hereof), so long as such secured Debt shall be so
secured, unless, after giving effect thereto, the aggregate amount of all such secured Debt would not exceed 10% of Consolidated Net Tangible Assets; provided,
however, that this Section shall not apply to, and there shall be excluded from secured debt in any computation under this Section, Debt secured by: 

    (1) Mortgages
on property of, or on any shares of stock or Debt of, any corporation existing at the time such corporation becomes a Domestic Subsidiary or as of the
date of first issuance by the Company of Securities pursuant to this Indenture; 

    (2) Mortgages
in favor of the Company or any Domestic Subsidiary; 

    (3) mechanic's
liens, tax liens, Mortgages in favor of any governmental body to secure progress, advance or other payments or the acquisition of real or personal
property from such governmental body pursuant to any contract or provision of any statute, and other Mortgages incidental to construction, to the conduct of business or to the ownership of property of
the Company or any Domestic Subsidiary which were not incurred in connection with the borrowing of money or the obtaining of advances or credits or the acquisition of property and do not in the
aggregate materially impair the use of any Principal Domestic Manufacturing Property for the purposes for which it is held or which are being contested in good faith by the Company or such Domestic
Subsidiary; 

    (4) Mortgages
on property, shares of stock or Debt existing at the time of acquisition thereof (including acquisition through merger or consolidation) or to secure the
cost of acquiring, substantially repairing or altering, constructing, developing or substantially improving all or any part of such property or to secure Debt incurred to provide funds for any such
purpose or for reimbursement of funds previously expended for any such purpose, provided the commitment of the creditor to extend the credit secured by any such mortgage shall have been obtained not
later 

44

 

than 180 days after the later of (a) the completion of the acquisition, substantial repair or alteration, construction, development or substantial improvement of such property or
(b) the placing in operation of such property or of such property as so substantially repaired or altered, constructed, developed or substantially improved; 

    (5) Mortgages
arising by reason of any judgment, decree or order of any court, so long as any appropriate legal proceedings which may have been initiated for the review
of such judgment, decree or order shall not have been finally terminated or so long as the period within which such proceedings
may be initiated shall not have expired; any deposit or pledge with any surety company or clerk of any court, or in escrow, as collateral in connection with, or in lieu of, any bond on appeal from any
judgment or decree against the Company or any Domestic Subsidiary, or in connection with other proceedings or actions at law or in equity by or against the Company or any Subsidiary; and 

    (6) any
extension, renewal or replacement (or successive extensions, renewals or replacements), as a whole or in part, of any Mortgage referred to in the foregoing
clauses (1) to (5), inclusive; provided that (i) such extension, renewal or replacement Mortgage shall be limited to all or a part of the
same property, shares of stock or Debt that secured the Mortgage extended, renewed or replaced (plus improvements on such property) and (ii) the Debt secured by such Mortgage at such time is
not increased. 

SECTION
1009.  LIMITATION ON SALES AND LEASEBACKS.  

    (a) The
Company will not itself, and it will not permit any Domestic Subsidiary to, enter into any arrangement with any bank, insurance company or other lender or
investor (not including the Company or any Domestic Subsidiary) or to which any such lender or investor is a party, providing for the leasing by the Company or any such Domestic Subsidiary for a
period, including renewals, in excess of three years of any Principal Domestic Manufacturing Property which has been or is to be sold or transferred (except for any lease of property acquired after
the date of the initial issuance of Securities pursuant to this Indenture if the rent payable by the Company or such Domestic Subsidiary thereunder is to be reimbursed under a contract with the
government of the United States or any instrumentality or agency thereof), more than 180 days after the completion of construction and commencement of full operation thereof, by the Company or
any such Domestic Subsidiary to such lender or investor or to any Person to whom funds have been or are to be advanced by such lender or investor on the security of such Principal Domestic
Manufacturing Property (herein referred to as a "sale or leaseback transaction") unless the Company, within 180 days after the sale or transfer shall have been made by the Company or by any
such Domestic Subsidiary, applies an amount equal to the greater of (i) the net proceeds of the sale of the Principal Domestic Manufacturing Property sold and leased back pursuant to such
arrangement or (ii) the fair market value of the Principal Domestic Manufacturing Property so sold and leased back at the time of entering into such arrangement (as determined by any two of the
following: the Chairman of the Board or any Vice Chairman of the Company, its President, any Sector President or Vice President of the Company, its Treasurer and its Controller) to the retirement of
Funded Debt of the Company; provided, that the amount to be applied to the retirement of Funded Debt of the Company shall be reduced by (a) the
principal amount at Stated Maturity of any Securities delivered within 180 days after such sale to the Trustee for retirement and cancellation, and (b) the principal amount of Funded
Debt, other than Securities, voluntarily retired by the Company within 180 days after such sale. Notwithstanding the foregoing, no retirement referred to in this clause (2) may be
effected by payment at maturity or pursuant to any mandatory sinking fund payment or any mandatory prepayment provision. 

45

  

    (b) Notwithstanding
the provisions of Section 1009(a), the Company or any Domestic Subsidiary may enter into a sale and leaseback transaction which would
otherwise be subject to the restrictions set forth in the provisions of Section 1009(a) so as to create an aggregate amount of Attributable Debt which, together with all Attributable Debt
outstanding pursuant to this Section 1009(b), does not exceed 10% of Consolidated Net Tangible Assets. 

SECTION
1010.  WAIVER OF CERTAIN COVENANTS.  

    Except
as otherwise specified as contemplated by Section 301 for Securities of a specific series, the Company may, with respect to the Securities of any one or more series,
omit in any particular instance to comply with any term, provision or condition set forth in any covenant provided pursuant to Section 301(18), 901(2) or 901(7) for the benefit of the Holders
of such series or in any of Sections 1006 to 1009 inclusive if, before the time for such compliance, the Holders of a majority in principal amount of the Outstanding Securities of all series affected
by such waiver (considered together as one class for this purpose) shall, by Act of such Holders, either waive such compliance in such instance or generally waive compliance with such term, provision
or condition, but no such waiver shall extend to or affect such term, provision or condition except to the extent so expressly waived, and, until such waiver shall become effective, the obligations of
the Company and the duties of the Trustee in respect of any such term, provision or condition shall remain in full force and effect. 

 
 

ARTICLE ELEVEN    
  

 
  REDEMPTION OF SECURITIES    
  

SECTION
1101.  APPLICABILITY OF ARTICLE.  

    Securities
of any series which are redeemable before their Stated Maturity shall be redeemable in accordance with their terms and (except as otherwise specified as contemplated by
Section 301 for such Securities) in accordance with this Article. 

SECTION
1102.  ELECTION TO REDEEM; NOTICE TO TRUSTEE.  

    The
election of the Company to redeem any Securities shall be established in or pursuant to a Board Resolution or in another manner specified as contemplated by Section 301 for
such Securities. In case of any redemption at the election of the Company of less than all the Securities of any series (including any such redemption affecting only a single Security), the Company
shall, at least 60 days prior to the Redemption Date fixed by the Company (unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee of such Redemption Date, of the
principal amount of Securities of such series to be redeemed and, if applicable, of the tenor of the Securities to be redeemed. In the case of any redemption of Securities prior to the expiration of
any restriction on such redemption provided in the terms of such Securities or elsewhere in this Indenture, the Company shall furnish the Trustee with an Officers' Certificate evidencing compliance
with such restriction. 

SECTION
1103.  SELECTION BY TRUSTEE OF SECURITIES TO BE REDEEMED.  

    If
less than all the Securities of any series are to be redeemed (unless all the Securities of such series and of a specified tenor are to be redeemed or unless such redemption
affects only a single Security), the particular Securities to be redeemed shall be selected not more than 60 days prior to the Redemption Date by the Trustee, from the Outstanding Securities of
such series not previously called for redemption, by such method as the Trustee shall deem fair and appropriate and which may provide for the selection for redemption of a portion of the principal
amount of any Security of such series, provided that the unredeemed portion of the principal amount of any Security shall be in an authorized
denomination (which shall not be less than the minimum authorized denomination) for such Security. If less than all the Securities of such series and of a specified tenor are to be redeemed (unless
such redemption affects only a single Security), the particular Securities to be redeemed shall be selected not 

46

 

more than 60 days prior to the Redemption Date by the Trustee, from the Outstanding Securities of such series and specified tenor not previously called for redemption in accordance with the
preceding sentence. 

    If
any Security selected for partial redemption is converted in part before termination of the conversion right with respect to the portion of the Security so selected, the converted
portion of such Security shall
be deemed (so far as may be) to be the portion selected for redemption. Securities which have been converted during a selection of Securities to be redeemed shall be treated by the Trustee as
Outstanding for the purpose of such selection. 

    The
Trustee shall promptly notify the Company and each Security Registrar in writing of the Securities selected for redemption as aforesaid and, in case of any Securities selected for
partial redemption as aforesaid, the principal amount thereof to be redeemed. 

    The
provisions of the two preceding paragraphs shall not apply with respect to any redemption affecting only a single Security, whether such Security is to be redeemed in whole or in
part. In the case of any such redemption in part, the unredeemed portion of the principal amount of the Security shall be in an authorized denomination (which shall not be less than the minimum
authorized denomination) for such Security. 

    For
all purposes of this Indenture, unless the context otherwise requires, all provisions relating to the redemption of Securities shall relate, in the case of any Securities redeemed
or to be redeemed only in part, to the portion of the principal amount of such Securities which has been or is to be redeemed. 

SECTION
1104.  NOTICE OF REDEMPTION.  

    Notice
of redemption shall be given by first-class mail, postage prepaid, mailed not less than 15 days nor more than 60 days prior to the Redemption Date, to each Holder
of Securities to be redeemed, at his address appearing in the Security Register. 

    All
notices of redemption shall identify the Securities to be redeemed (including CUSIP numbers, if any) and shall state: 

    (1) the
Redemption Date, 

    (2) the
Redemption Price, 

    (3) if
less than all the Outstanding Securities of any series consisting of more than a single Security are to be redeemed, the identification (and, in the case of
partial redemption of any such Securities, the principal amounts) of the particular Securities to be redeemed and, if less than all the Outstanding Securities of any series consisting of a single
Security are to be redeemed, the principal amount of the particular Security to be redeemed, 

    (4) that
on the Redemption Date the Redemption Price will become due and payable upon each such Security to be redeemed and, if applicable, that interest thereon will
cease to accrue on and after said date, 

    (5) the
place or places where each such Security is to be surrendered for payment of the Redemption Price, 

    (6) for
any Securities that by their terms may be converted, the terms of conversion, the date on which the right to convert the Security to be redeemed will terminate
and the place or places where such Securities may be surrendered for conversion, and 

    (7) that
the redemption is for a sinking fund, if such is the case. 

47

 

    Notice
of redemption of Securities to be redeemed at the election of the Company shall be given by the Company or, at the Company's request, by the Trustee in the name and at the
expense of the Company and shall be irrevocable. 

SECTION
1105.  DEPOSIT OF REDEMPTION PRICE.  

    On
or prior to any Redemption Date, the Company shall deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in
trust as provided in Section 1003) an amount of money sufficient to pay the Redemption Price of, and (except if the Redemption Date shall be an Interest Payment Date) accrued interest on, all
the Securities which are to be redeemed on that date, other than any Securities called for redemption on that date which have been converted prior to the date of such deposit. 

    If
any Security called for redemption is converted, any money deposited with the Trustee or with any Paying Agent or so segregated and held in trust for the redemption of such
Security shall (subject to any right of the Holder of such Security or any Predecessor Security to receive interest as provided in the last paragraph of Section 307 or in the terms of such
Security) be paid to the Company upon Company Request or, if then held by the Company, shall be discharged from such trust. 

SECTION
1106.  SECURITIES PAYABLE ON REDEMPTION DATE.  

    Notice
of redemption having been given as aforesaid, the Securities so to be redeemed shall, on the Redemption Date, become due and payable at the Redemption Price therein specified,
and from and after such date (unless the Company shall default in the payment of the Redemption Price and accrued interest) such Securities shall cease to bear interest. Upon surrender of any such
Security for redemption in accordance with said notice, such Security shall be paid by the Company at the Redemption Price, together with accrued interest to the Redemption Date;  provided, however, that,
 unless otherwise specified as contemplated by Section 301, instalments of interest whose Stated Maturity is on or prior
to the Redemption Date will be payable to the Holders of such Securities, or one or more Predecessor Securities, registered as such at the close of business on the relevant Record Dates according to
their terms and the provisions of Section 307. 

    If
any Security called for redemption shall not be so paid upon surrender thereof for redemption, the principal and any premium shall, until paid, bear interest from the Redemption
Date at the rate prescribed therefor in the Security. 

SECTION
1107.  SECURITIES REDEEMED IN PART.  

    Any
Security which is to be redeemed only in part shall be surrendered at a Place of Payment therefor (with, if the Company or the Trustee so requires, due endorsement by, or a
written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder thereof or his attorney duly authorized in writing), and the Company shall execute, and
the Trustee shall authenticate and deliver to the Holder of such Security without service charge, a new Security or Securities of the same series and of like tenor, of any authorized denomination as
requested by such Holder, in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Security so surrendered. 

 
 

ARTICLE TWELVE    
  

 
  SINKING FUNDS    
  

SECTION
1201.  APPLICABILITY OF ARTICLE.  

    The
provisions of this Article shall be applicable to any sinking fund for the retirement of Securities of any series except as otherwise specified as contemplated by
Section 301 for such Securities. 

48

 

    The minimum amount of any sinking fund payment provided for by the terms of any Securities is herein referred to as a "mandatory sinking fund payment", and any payment in excess of
such minimum amount provided for by the terms of such Securities is herein referred to as an "optional sinking fund payment". If provided for by the terms of any Securities, the cash amount of any
sinking fund payment may be subject to reduction as provided in Section 1202. Each sinking fund payment shall be applied to the redemption of Securities as provided for by the terms of such
Securities. 

SECTION
1202.  SATISFACTION OF SINKING FUND PAYMENTS WITH SECURITIES.  

    The
Company (1) may deliver Outstanding Securities of a series (other than any previously called for redemption) and (2) may apply as a credit Securities of a series
which have been converted in accordance with their terms or which have been redeemed either at the election of the Company pursuant to the terms of such Securities or through the application of
permitted optional sinking fund payments pursuant to the terms of such Securities, in each case in satisfaction of all or any part of any sinking fund payment with respect to any Securities of such
series required to be made pursuant to the terms of such Securities as and to the extent provided for by the terms of such Securities; provided that the
Securities to be so credited have not been previously so credited. The Securities to be so credited shall be received and credited for such purpose by the Trustee at the Redemption Price, as specified
in the Securities so to be redeemed (or at such other prices as may be specified for such Securities as
contemplated in Section 301), for redemption through operation of the sinking fund and the amount of such sinking fund payment shall be reduced accordingly. 

SECTION
1203.  REDEMPTION OF SECURITIES FOR SINKING FUND.  

    Not
less than 60 days prior to each sinking fund payment date for any Securities, the Company will deliver to the Trustee an Officers' Certificate specifying the amount of the
next ensuing sinking fund payment for such Securities pursuant to the terms of such Securities, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if
any, which is to be satisfied by delivering and crediting Securities pursuant to Section 1202 and will also deliver to the Trustee any Securities to be so delivered. Not less than
30 days prior to each such sinking fund payment date, the Trustee shall select the Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 1103
and cause notice of the redemption thereof to be given in the name of and at the expense of the Company in the manner provided in Section 1104. Such notice having been duly given, the
redemption of such Securities shall be made upon the terms and in the manner stated in Sections 1106 and 1107. 

 
 

ARTICLE THIRTEEN    
  

 
  DEFEASANCE AND COVENANT DEFEASANCE    
  

SECTION
1301.  COMPANY'S OPTION TO EFFECT DEFEASANCE OR COVENANT DEFEASANCE.  

    The
Company may elect, at its option at any time, to have Section 1302 or Section 1303 applied to any Securities or any series of Securities, as the case may be,
designated pursuant to Section 301 as being defeasible pursuant to such Section 1302 or 1303, in accordance with any applicable requirements provided pursuant to Section 301 and
upon compliance with the conditions set forth below in this Article. Any such election shall be evidenced by a Board Resolution or in another manner specified as contemplated by Section 301 for
such Securities. 

SECTION
1302.  DEFEASANCE AND DISCHARGE.  

    Upon
the Company's exercise of its option (if any) to have this Section applied to any Securities or any series of Securities, as the case may be, the Company shall be deemed to have
been discharged from its obligations with respect to such Securities as provided in this Section on and after the date the 

49

 

conditions set forth in Section 1304 are satisfied (hereinafter called "Defeasance"). For this purpose, such Defeasance means that the Company shall be deemed to have paid and discharged the
entire indebtedness represented by such Securities and to have satisfied all its other obligations under such Securities and this Indenture insofar as such Securities are concerned (and the Trustee,
at the expense of the Company, shall execute proper instruments acknowledging the same), subject to the following which shall survive until otherwise terminated or discharged hereunder: (1) the
rights of Holders of such Securities to receive, solely from the trust fund described in Section 1304 and as more fully set forth in such Section, payments in respect of the principal of and
any premium and interest on such Securities when payments are due, (2) the Company's obligations with respect to such Securities under Sections 304, 305, 306, 1002 and 1003, (3) the
rights, powers, trusts, duties and immunities of the Trustee hereunder and (4) this Article. Subject to compliance with this Article, the Company may exercise its option (if any) to have this
Section applied to any Securities notwithstanding the prior exercise of its option (if any) to have Section 1303 applied to such Securities. 

SECTION
1303.  COVENANT DEFEASANCE.  

    Upon
the Company's exercise of its option (if any) to have this Section applied to any Securities or any series of Securities, as the case may be, (1) the Company shall be
released from its obligations under Section 801(3) and Sections 1006 through 1009, inclusive, and any covenants provided pursuant to Section 301(18), 901(2) or 901(7) for the benefit of
the Holders of such Securities and (2) the occurrence of any event specified in Sections 501(4) (with respect to any of Section 801(3) and Sections 1006 through 1009, inclusive, and any
such covenants provided pursuant to Section 301(18), 901(2) or 901(7)) and 501(7) shall be deemed not to be or result in an Event of Default, in each case with respect to such Securities as
provided in this Section on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called "Covenant Defeasance"). For this purpose, such Covenant Defeasance
means that, with respect to such Securities, the Company may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified Section (to
the extent so specified in the case of Section 501(4)), whether directly or indirectly by reason of any reference elsewhere herein to any such Section or by reason of any reference in any such
Section to any other provision herein or in any other document, but the remainder of this Indenture and such Securities shall be unaffected thereby. 

SECTION
1304.  CONDITIONS TO DEFEASANCE OR COVENANT DEFEASANCE.  

    The
following shall be the conditions to the application of Section 1302 or Section 1303 to any Securities or any series of Securities, as the case may be: 

    (1) The
Company shall irrevocably have deposited or caused to be deposited with the Trustee (or another trustee which satisfies the requirements contemplated by
Section 609 and agrees to comply with the provisions of this Article applicable to it) as trust funds in trust for the purpose of making the following payments, specifically pledged as security
for, and dedicated solely to, the benefits of the Holders of such Securities, (A) money in an amount, or (B) U.S. Government Obligations which through the scheduled payment of principal
and interest in respect thereof in accordance with their terms will provide, not later than one day before the due date of any payment, money in an amount, or (C) such other obligations or
arrangements as may be specified as contemplated by Section 301 with respect to such Securities, or (D) a combination thereof, in each case sufficient, in the opinion of a nationally
recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge, and which shall be applied by the Trustee (or any such
other qualifying trustee) to pay and discharge, the principal of and any premium and interest on such Securities on the respective Stated Maturities, in accordance with the terms of this Indenture and
such Securities. As used herein, "U.S. Government Obligation" means (x) any security which is (i) a direct obligation of the United States of America for the payment of which the full
faith and credit of the United States of 

50

 

America is pledged or (ii) an obligation of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America the payment of which is
unconditionally guaranteed as a full faith and credit obligation by the United States of America, which, in either case (i) or (ii), is not callable or redeemable at the option of the issuer
thereof, and (y) any depositary receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act) as custodian with respect to any U.S. Government Obligation which is
specified in Clause (x) above and held by such bank for the account of the holder of such depositary receipt, or with respect to any specific payment of principal of or interest on any U.S.
Government Obligation which is so specified and held, provided that (except as required by law) such custodian is not authorized to make any deduction
from the amount payable to the holder of such depositary receipt from any amount received by the custodian in respect of the U.S. Government Obligation or the specific payment of principal or interest
evidenced by such depositary receipt. 

    (2) In
the event of an election to have Section 1302 apply to any Securities or any series of Securities, as the case may be, the Company shall have delivered to
the Trustee an Opinion of Counsel stating that (A) the Company has received from, or there has been published by, the Internal Revenue Service a ruling or (B) since the date of this
instrument, there has been a change in the applicable Federal income tax law, in either case (A) or (B) to the effect that, and based thereon such opinion shall confirm that, the Holders
of such Securities will not recognize gain or loss for Federal income tax purposes as a
result of the deposit, Defeasance and discharge to be effected with respect to such Securities and will be subject to Federal income tax on the same amount, in the same manner and at the same times as
would be the case if such deposit, Defeasance and discharge were not to occur. 

    (3) In
the event of an election to have Section 1303 apply to any Securities or any series of Securities, as the case may be, the Company shall have delivered to
the Trustee an Opinion of Counsel to the effect that the Holders of such Securities will not recognize gain or loss for Federal income tax purposes as a result of the deposit and Covenant Defeasance
to be effected with respect to such Securities and will be subject to Federal income tax on the same amount, in the same manner and at the same times as would be the case if such deposit and Covenant
Defeasance were not to occur. 

    (4) The
Company shall have delivered to the Trustee an Officers' Certificate to the effect that neither such Securities nor any other Securities of the same series, if
then listed on any securities exchange, will be delisted as a result of such deposit. 

    (5) No
event which is, or after notice or lapse of time or both would become, an Event of Default with respect to such Securities or any other Securities shall have
occurred and be continuing at the time of such deposit or, with regard to any such event specified in Sections 501(5) and (6), at any time on or prior to the 90th day after the date of such
deposit (it being understood that this condition shall not be deemed satisfied until after such 90th day). 

    (6) Such
Defeasance or Covenant Defeasance shall not cause the Trustee to have a conflicting interest within the meaning of the Trust Indenture Act (assuming all
Securities are in default within the meaning of such Act). 

    (7) Such
Defeasance or Covenant Defeasance shall not result in a breach or violation of, or constitute a default under, any other agreement or instrument to which the
Company is a party or by which it is bound. 

    (8) Such
Defeasance or Covenant Defeasance shall not result in the trust arising from such deposit constituting an investment company within the meaning of the
Investment Company Act unless such trust shall be registered under the Investment Company Act or exempt from registration thereunder. 

51

 

    (9) The Company shall have delivered to the Trustee an Officers' Certificate and an Opinion of Counsel, each stating that all conditions precedent with respect to such
Defeasance or Covenant Defeasance have been complied with. 

SECTION
1305.  DEPOSITED MONEY AND U.S. GOVERNMENT OBLIGATIONS TO BE HELD IN TRUST; MISCELLANEOUS PROVISIONS.  

    Subject
to the provisions of the last paragraph of Section 1003, all money and U.S. Government Obligations (including the proceeds thereof) deposited with the Trustee or other
qualifying trustee (solely for purposes of this Section and Section 1306, the Trustee and any such other trustee are referred to collectively as the "Trustee") pursuant to Section 1304
in respect of any Securities shall be held in trust and applied by the Trustee, in accordance with the provisions of such Securities and this Indenture, to the payment, either directly or through any
such Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Holders of such Securities, of all sums due and to become due thereon in respect of
principal and any premium and interest, but money so held in trust need not be segregated from other funds except to the extent required by law. 

    The
Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited pursuant to
Section 1304 or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the Holders of Outstanding Securities. 

    Anything
in this Article to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon Company Request any money or U.S. Government
Obligations held by it as provided in Section 1304 with respect to any Securities which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written
certification thereof delivered to the Trustee, are in excess of the amount thereof which would then be required to be deposited to effect the Defeasance or Covenant Defeasance, as the case may be,
with respect to such Securities. 

SECTION
1306.  REINSTATEMENT.  

    If
the Trustee or the Paying Agent is unable to apply any money in accordance with this Article with respect to any Securities by reason of any order or judgment of any court or
governmental authority enjoining, restraining or otherwise prohibiting such application, then the obligations under this Indenture and such Securities from which the Company has been discharged or
released pursuant to Section 1302 or 1303 shall be revived and reinstated as though no deposit had occurred pursuant to this
Article with respect to such Securities, until such time as the Trustee or Paying Agent is permitted to apply all money held in trust pursuant to Section 1305 with respect to such Securities in
accordance with this Article; provided, however, that if the Company makes any payment of principal of or any premium or interest on any such Security
following such reinstatement of its obligations, the Company shall be subrogated to the rights (if any) of the Holders of such Securities to receive such payment from the money so held in trust. 

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

52

 

    IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed, and their respective corporate seals to be hereunto affixed and attested, all as of the day and
year first above written. 

	 	 	CORNING INCORPORATED
	

 	
 	

By	
 	

 
	 	 	 	 	

Attest:

	STATE OF NEW YORK	 	)	 	 
	 	 	)	 	ss.:
	COUNTY OF NEW YORK	 	)	 	 

    On
the      day of            ,  , before me personally came            , to me known, who,
being by me duly sworn, did depose and say that
he is            of Corning Incorporated, one of the corporations described in and which executed the foregoing instrument; that he knows the seal of said corporation; that the seal affixed
to
said instrument is such corporate seal; that it was so affixed by authority of the Board of Directors of said corporation; and that he signed his name thereto by like authority. 

	

 	
 	

 	
 	

	

 	
 	

THE CHASE MANHATTAN BANK
	

 	
 	

By	
 	

 
	 	 	 	 	

Attest:

	STATE OF NEW YORK	 	)	 	 
	 	 	)	 	ss.:
	COUNTY OF NEW YORK	 	)	 	 

    On
the      day of            ,  , before me personally came            , to me known, who,
being by me duly sworn, did depose and say that
he is            of            , one of the corporations described in and which executed the foregoing instrument; that he knows
the seal of said corporation; that the seal affixed to
said instrument is such corporate seal; that it was so affixed by authority of the Board of Directors of said corporation; and that he signed his name thereto by like authority. 

	

 	
 	

 	
 	

53

  

 
 

TABLE OF CONTENTS    
  

	 
	 	 
	 	Page

	PARTIES	 	 
	RECITALS OF THE COMPANY	 	1
	

ARTICLE ONE DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION	
 	

 
	

SECTION 101.	
 	

DEFINITIONS	
 	

1
	 	 	Act	 	1
	 	 	Affiliate	 	2
	 	 	Applicable Procedures	 	2
	 	 	Attributable Debt	 	2
	 	 	Authenticating Agent	 	2
	 	 	Board of Directors	 	2
	 	 	Board Resolution	 	2
	 	 	Business Day	 	2
	 	 	Commission	 	2
	 	 	Company	 	2
	 	 	Company Request or Company Order	 	2
	 	 	Consolidated Net Tangible Assets	 	2
	 	 	Corporate Trust Office	 	3
	 	 	corporation	 	3
	 	 	Covenant Defeasance	 	3
	 	 	Debt	 	3
	 	 	Defaulted Interest	 	3
	 	 	Defeasance	 	3
	 	 	Depositary	 	3
	 	 	Domestic Subsidiary	 	3
	 	 	Event of Default	 	3
	 	 	Exchange Act	 	3
	 	 	Expiration Date	 	3
	 	 	Funded Debt	 	3
	 	 	Global Security	 	3
	 	 	Holder	 	3
	 	 	Indenture	 	3
	 	 	interest	 	3
	 	 	Interest Payment Date	 	4
	 	 	Investment Company Act	 	4
	 	 	Maturity	 	4
	 	 	Mortgage	 	4
	 	 	Notice of Default	 	4
	 	 	Officers' Certificate	 	4
	 	 	Opinion of Counsel	 	4
	 	 	Original Issue Discount Security	 	4
	 	 	Outstanding	 	4
	 	 	Paying Agent	 	5
	 	 	Person	 	5
	 	 	Place of Payment	 	5
	 	 	Predecessor Security	 	5
	 	 	Principal Domestic Manufacturing Property	 	5

i

 

	 	 	Redemption Date	 	5
	 	 	Redemption Price	 	5
	 	 	Regular Record Date	 	5
	 	 	Responsible Officer	 	6
	 	 	Securities Act	 	6
	 	 	Security Register	 	6
	 	 	Special Record Date	 	6
	 	 	Stated Maturity	 	6
	 	 	Subsidiary	 	6
	 	 	Trust Indenture Act	 	6
	 	 	Trustee	 	6
	 	 	U.S. Government Obligation	 	6
	 	 	Vice President	 	6
	SECTION 102.	 	COMPLIANCE CERTIFICATES AND OPINIONS	 	6
	SECTION 103.	 	FORM OF DOCUMENTS DELIVERED TO TRUSTEE	 	7
	SECTION 104.	 	ACTS OF HOLDERS; RECORD DATES	 	7
	SECTION 105.	 	NOTICES, ETC., TO TRUSTEE AND COMPANY	 	9
	SECTION 106.	 	NOTICE TO HOLDERS; WAIVER	 	9
	SECTION 107.	 	CONFLICT WITH TRUST INDENTURE ACT	 	10
	SECTION 108.	 	EFFECT OF HEADINGS AND TABLE OF CONTENTS	 	10
	SECTION 109.	 	SUCCESSORS AND ASSIGNS	 	10
	SECTION 110.	 	SEPARABILITY CLAUSE	 	10
	SECTION 111.	 	BENEFITS OF INDENTURE	 	10
	SECTION 112.	 	GOVERNING LAW	 	10
	SECTION 113.	 	LEGAL HOLIDAYS	 	10
	

ARTICLE TWO SECURITY FORMS	
 	

 
	

SECTION 201.	
 	

FORMS GENERALLY	
 	

10
	SECTION 202.	 	FORM OF FACE OF SECURITY	 	11
	SECTION 203.	 	FORM OF REVERSE OF SECURITY	 	12
	SECTION 204.	 	FORM OF LEGEND FOR GLOBAL SECURITIES	 	15
	SECTION 205.	 	FORM OF TRUSTEE'S CERTIFICATE OF AUTHENTICATION	 	15
	

ARTICLE THREE THE SECURITIES	
 	

 
	

SECTION 301.	
 	

AMOUNT UNLIMITED; ISSUABLE IN SERIES	
 	

15
	SECTION 302.	 	DENOMINATIONS	 	17
	SECTION 303.	 	EXECUTION, AUTHENTICATION, DELIVERY AND DATING	 	17
	SECTION 304.	 	TEMPORARY SECURITIES	 	19
	SECTION 305.	 	REGISTRATION, REGISTRATION OF TRANSFER AND EXCHANGE	 	19
	SECTION 306.	 	MUTILATED, DESTROYED, LOST AND STOLEN SECURITIES	 	21
	SECTION 307.	 	PAYMENT OF INTEREST; INTEREST RIGHTS PRESERVED	 	21
	SECTION 308.	 	PERSONS DEEMED OWNERS	 	22
	SECTION 309.	 	CANCELLATION	 	23
	SECTION 310.	 	COMPUTATION OF INTEREST	 	23
	SECTION 311.	 	CUSIP NUMBERS	 	23
	

ARTICLE FOUR SATISFACTION AND DISCHARGE	
 	

 
	

SECTION 401.	
 	

SATISFACTION AND DISCHARGE OF INDENTURE	
 	

23
	SECTION 402.	 	APPLICATION OF TRUST MONEY	 	24

ii

 

	

ARTICLE FIVE REMEDIES	
 	

 
	

SECTION 501.	
 	

EVENTS OF DEFAULT	
 	

24
	SECTION 502.	 	ACCELERATION OF MATURITY; RESCISSION AND ANNULMENT	 	25
	SECTION 503.	 	COLLECTION OF INDEBTEDNESS AND SUITS FOR ENFORCEMENT BY TRUSTEE	 	26
	SECTION 504.	 	TRUSTEE MAY FILE PROOFS OF CLAIM	 	26
	SECTION 505.	 	TRUSTEE MAY ENFORCE CLAIMS WITHOUT POSSESSION OF SECURITIES	 	27
	SECTION 506.	 	APPLICATION OF MONEY COLLECTED	 	27
	SECTION 507.	 	LIMITATION ON SUITS	 	27
	SECTION 508.	 	UNCONDITIONAL RIGHT OF HOLDERS TO RECEIVE PRINCIPAL, PREMIUM AND INTEREST AND TO CONVERT	 	28
	SECTION 509.	 	RESTORATION OF RIGHTS AND REMEDIES	 	28
	SECTION 510.	 	RIGHTS AND REMEDIES CUMULATIVE	 	28
	SECTION 511.	 	DELAY OR OMISSION NOT WAIVER	 	28
	SECTION 512.	 	CONTROL BY HOLDERS	 	28
	SECTION 513.	 	WAIVER OF PAST DEFAULTS	 	29
	SECTION 514.	 	UNDERTAKING FOR COSTS	 	29
	SECTION 515.	 	WAIVER OF USURY, STAY OR EXTENSION LAWS	 	29
	

ARTICLE SIX THE TRUSTEE	
 	

 
	

SECTION 601.	
 	

CERTAIN DUTIES AND RESPONSIBILITIES	
 	

29
	SECTION 602.	 	NOTICE OF DEFAULTS	 	30
	SECTION 603.	 	CERTAIN RIGHTS OF TRUSTEE	 	30
	SECTION 604.	 	NOT RESPONSIBLE FOR RECITALS OR ISSUANCE OF SECURITIES	 	31
	SECTION 605.	 	MAY HOLD SECURITIES	 	31
	SECTION 606.	 	MONEY HELD IN TRUST	 	32
	SECTION 607.	 	COMPENSATION AND REIMBURSEMENT	 	32
	SECTION 608.	 	CONFLICTING INTERESTS	 	32
	SECTION 609.	 	CORPORATE TRUSTEE REQUIRED; ELIGIBILITY	 	32
	SECTION 610.	 	RESIGNATION AND REMOVAL; APPOINTMENT OF SUCCESSOR	 	33
	SECTION 611.	 	ACCEPTANCE OF APPOINTMENT BY SUCCESSOR	 	34
	SECTION 612.	 	MERGER, CONVERSION, CONSOLIDATION OR SUCCESSION TO BUSINESS	 	35
	SECTION 613.	 	PREFERENTIAL COLLECTION OF CLAIMS AGAINST COMPANY	 	36
	SECTION 614.	 	APPOINTMENT OF AUTHENTICATING AGENT	 	36
	

ARTICLE SEVEN HOLDERS' LISTS AND REPORTS BY TRUSTEE AND COMPANY	
 	

 
	

SECTION 701.	
 	

COMPANY TO FURNISH TRUSTEE NAMES AND ADDRESSES OF HOLDERS	
 	

37
	SECTION 702.	 	PRESERVATION OF INFORMATION; COMMUNICATIONS TO HOLDERS	 	37
	SECTION 703.	 	REPORTS BY TRUSTEE	 	38
	SECTION 704.	 	REPORTS BY COMPANY	 	38
	

ARTICLE EIGHT CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE	
 	

 
	

SECTION 801.	
 	

COMPANY MAY CONSOLIDATE, ETC., ONLY ON CERTAIN TERMS	
 	

38
	SECTION 802.	 	SUCCESSOR SUBSTITUTED	 	39

iii

 

	

ARTICLE NINE SUPPLEMENTAL INDENTURES	
 	

 
	

SECTION 901.	
 	

SUPPLEMENTAL INDENTURES WITHOUT CONSENT OF HOLDERS	
 	

39
	SECTION 902.	 	SUPPLEMENTAL INDENTURES WITH CONSENT OF HOLDERS	 	40
	SECTION 903.	 	EXECUTION OF SUPPLEMENTAL INDENTURES	 	41
	SECTION 904.	 	EFFECT OF SUPPLEMENTAL INDENTURES	 	41
	SECTION 905.	 	CONFORMITY WITH TRUST INDENTURE ACT	 	41
	SECTION 906.	 	REFERENCE IN SECURITIES TO SUPPLEMENTAL INDENTURES	 	41
	

ARTICLE TEN COVENANTS	
 	

 
	

SECTION 1001.	
 	

PAYMENT OF PRINCIPAL, PREMIUM AND INTEREST	
 	

41
	SECTION 1002.	 	MAINTENANCE OF OFFICE OR AGENCY	 	42
	SECTION 1003.	 	MONEY FOR SECURITIES PAYMENTS TO BE HELD IN TRUST	 	42
	SECTION 1004.	 	STATEMENT BY OFFICERS AS TO DEFAULT	 	43
	SECTION 1005.	 	EXISTENCE	 	43
	SECTION 1006.	 	MAINTENANCE OF PRINCIPAL DOMESTIC MANUFACTURING PROPERTIES	 	43
	SECTION 1007.	 	PAYMENT OF TAXES AND OTHER CLAIMS	 	44
	SECTION 1008.	 	LIMITATION ON LIENS	 	44
	SECTION 1009.	 	LIMITATION ON SALES AND LEASEBACKS	 	45
	SECTION 1010.	 	WAIVER OF CERTAIN COVENANTS	 	46
	

ARTICLE ELEVEN REDEMPTION OF SECURITIES	
 	

 
	

SECTION 1101.	
 	

APPLICABILITY OF ARTICLE	
 	

46
	SECTION 1102.	 	ELECTION TO REDEEM; NOTICE TO TRUSTEE	 	46
	SECTION 1103.	 	SELECTION BY TRUSTEE OF SECURITIES TO BE REDEEMED	 	46
	SECTION 1104.	 	NOTICE OF REDEMPTION	 	47
	SECTION 1105.	 	DEPOSIT OF REDEMPTION PRICE	 	48
	SECTION 1106.	 	SECURITIES PAYABLE ON REDEMPTION DATE	 	48
	SECTION 1107.	 	SECURITIES REDEEMED IN PART	 	48
	

ARTICLE TWELVE SINKING FUNDS	
 	

 
	

SECTION 1201.	
 	

APPLICABILITY OF ARTICLE	
 	

48
	SECTION 1202.	 	SATISFACTION OF SINKING FUND PAYMENTS WITH SECURITIES	 	49
	SECTION 1203.	 	REDEMPTION OF SECURITIES FOR SINKING FUND	 	49
	

ARTICLE THIRTEEN DEFEASANCE AND COVENANT DEFEASANCE	
 	

 
	

SECTION 1301.	
 	

COMPANY'S OPTION TO EFFECT DEFEASANCE OR COVENANT DEFEASANCE	
 	

49
	SECTION 1302.	 	DEFEASANCE AND DISCHARGE	 	49
	SECTION 1303.	 	COVENANT DEFEASANCE	 	50
	SECTION 1304.	 	CONDITIONS TO DEFEASANCE OR COVENANT DEFEASANCE	 	50
	SECTION 1305.	 	DEPOSITED MONEY AND U.S. GOVERNMENT OBLIGATIONS TO BE HELD IN TRUST; MISCELLANEOUS PROVISIONS	 	52
	SECTION 1306.	 	REINSTATEMENT	 	52
	

TESTIMONIUM	
 	

53
	SIGNATURES AND SEALS	 	53
	ACKNOWLEDGEMENTS	 	53

iv

QuickLinks

CORNING INCORPORATED, AS ISSUER

TO

THE CHASE MANHATTAN BANK, AS TRUSTEE

INDENTURE

DATED AS OF NOVEMBER 8, 2000

RECITALS OF THE COMPANY

ARTICLE ONE

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

ARTICLE TWO

SECURITY FORMS

Corning Incorporated

ARTICLE THREE

THE SECURITIES

ARTICLE FOUR

SATISFACTION AND DISCHARGE

ARTICLE FIVE

REMEDIES

ARTICLE SIX

THE TRUSTEE

ARTICLE SEVEN

HOLDERS' LISTS AND REPORTS BY TRUSTEE AND COMPANY

ARTICLE EIGHT

CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE

ARTICLE NINE

SUPPLEMENTAL INDENTURES

ARTICLE TEN

COVENANTS

ARTICLE ELEVEN

REDEMPTION OF SECURITIES

ARTICLE TWELVE

SINKING FUNDS

ARTICLE THIRTEEN

DEFEASANCE AND COVENANT DEFEASANCE

TABLE OF CONTENTS

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