Document:

<PAGE>

                                                                    EXHIBIT 10.4

================================================================================

                         MORGAN STANLEY CAPITAL TRUST II

                      AMENDED AND RESTATED TRUST AGREEMENT

                                      among

                 MORGAN STANLEY DEAN WITTER & CO., as Depositor,

                   THE BANK OF NEW YORK, as Property Trustee,

              THE BANK OF NEW YORK (DELAWARE), as Delaware Trustee

                                       and

                         the Administrators named herein

July 19, 2001

<PAGE>

                         MORGAN STANLEY CAPITAL TRUST II

              Certain Sections of this Trust Agreement relating to
          Sections 310 through 318 of the Trust Indenture Act of 1939:
<TABLE>
<CAPTION>
Trust Indenture                                                                               Trust Agreement
---------------                                                                               ---------------
Act Section                                                                                   Section
-----------                                                                                   -------

<S>                                                                                           <C>
310(a)(1) ......................................................................................................8.7
(a)(2) .........................................................................................................8.7
(a)(3) .........................................................................................................8.9
(a)(4) ..................................................................................................2.7(a)(ii)
(b) ..................................................................................................8.8, 10.10(b)
311(a) ..............................................................................................8.13, 10.10(b)
(b) .................................................................................................8.13, 10.10(b)
312(a) ....................................................................................................10.10(b)
(b) .......................................................................................................10.10(b)
(c) ............................................................................................................5.7
313(a) .....................................................................................................8.15(a)
(b) ...............................................................................................8.15(a), 8.15(b)
(c) ..................................................................................................8.15(a), 10.8
(d) ........................................................................................................8.15(a)
314(a) ........................................................................................................8.16
(b) .................................................................................................Not Applicable
(c)(1) ..................................................................................................8.16, 8.17
(c)(2) ..................................................................................................8.16, 8.17
(c)(3) ..................................................................................................8.16, 8.17
(e) ...........................................................................................................8.17
315(a) ......................................................................................................8.1(d)
(b) ............................................................................................................8.2
(c) .........................................................................................................8.1(c)
(d) .........................................................................................................8.1(d)
(e) .................................................................................................Not Applicable
316(a) ..............................................................................................Not Applicable
(a)(1)(A) ...........................................................................................Not Applicable
(a)(1)(B) ...........................................................................................Not Applicable
(a)(2) ..............................................................................................Not Applicable
(b) ...........................................................................................................5.13
(c) ............................................................................................................6.7
317(a)(1) ...........................................................................................Not Applicable
(a)(2) ........................................................................................................8.14
(b) ...........................................................................................................5.10
318(a) ....................................................................................................10.10(a)

</TABLE>

Note: This reconciliation and tie shall not, for any purpose, be deemed to be a
part of the Trust.

<PAGE>

<TABLE>
<CAPTION>
                                                                         Table of Contents

                                                                                                                       Page
                                                                                                                       ----
<S>                   <C>                                                                             <C>

                                                                              ARTICLE I

                                                                            DEFINED TERMS

                SECTION 1.1.          Definitions .......................................................................1

                                                                              ARTICLE II
                                                                   CONTINUATION OF THE ISSUER TRUST

                SECTION 2.1.          Name .............................................................................11
                SECTION 2.2.          Office of the Delaware Trustee; Principal Place of Business ......................11
                SECTION 2.3.          Initial Contribution of Trust Property; Organizational Expenses ..................11
                SECTION 2.4.          Issuance of the Trust Securities .................................................11
                SECTION 2.5.          Issuance of the Common Securities; Subscription and Purchase of Junior
                                      Subordinated Debentures ..........................................................12
                SECTION 2.6.          Declaration of Trust .............................................................12
                SECTION 2.7.          Authorization to Enter into Certain Transactions .................................13
                SECTION 2.8.          Assets of Trust ..................................................................16
                SECTION 2.9.          Title to Trust Property ..........................................................16

                                                                              ARTICLE III
                                                                            PAYMENT ACCOUNT

                SECTION 3.1.          Payment Account ..................................................................16

                                                                              ARTICLE IV
                                                                       DISTRIBUTIONS; REDEMPTION

                SECTION 4.1.          Distributions ....................................................................16
                SECTION 4.2.          Redemption .......................................................................18
                SECTION 4.3.          Subordination of Common Securities ...............................................20
                SECTION 4.4.          Payment Procedures ...............................................................20
                SECTION 4.5.          Tax Returns and Reports ..........................................................21
                SECTION 4.6.          Payment of Taxes, Duties, Etc. of the Issuer Trust ...............................21
                SECTION 4.7.          Payments under Indenture or Pursuant to Direct Actions ...........................21
                SECTION 4.8.          Liability of the Holder of Common Securities .....................................21

                                                                               ARTICLE V
                                                                     TRUST SECURITIES CERTIFICATES

                SECTION 5.1.          Initial Ownership ................................................................22
                SECTION 5.2.          The Trust Securities Certificates ................................................22
                SECTION 5.3.          Execution and Delivery of Trust Securities Certificates ..........................22
                SECTION 5.4.          Global Capital Security ..........................................................23
</TABLE>

<PAGE>

<TABLE>
<S>                                   <C>                                                                               <C>
                SECTION 5.5.          Registration of Transfer and Exchange Generally; Certain Transfers and Exchanges;
                                      Capital Securities Certificates ..................................................24
                SECTION 5.6.          Mutilated, Destroyed, Lost or Stolen Trust Securities Certificates ...............25
                SECTION 5.7.          Persons Deemed Holders ...........................................................26
                SECTION 5.8.          Access to List of Holders' Names and Addresses ...................................26
                SECTION 5.9.          Maintenance of Office or Agency ..................................................26
                SECTION 5.10.         Appointment of Paying Agent ......................................................26
                SECTION 5.11.         Ownership of Common Securities by Depositor ......................................27
                SECTION 5.12.         Notices to Clearing Agency .......................................................27
                SECTION 5.13.         Rights of Holders ................................................................27

                                                                              ARTICLE VI
                                                                   ACTS OF HOLDERS; MEETINGS; VOTING

                SECTION 6.1.          Limitations on Holder's Voting Rights ............................................29
                SECTION 6.2.          Notice of Meetings ...............................................................30
                SECTION 6.3.          Meetings of Holders ..............................................................31
                SECTION 6.4.          Voting Rights ....................................................................31
                SECTION 6.5.          Proxies, etc. ....................................................................31
                SECTION 6.6.          Holder Action by Written Consent .................................................31
                SECTION 6.7.          Record Date for Voting and Other Purposes ........................................32
                SECTION 6.8.          Acts of Holders ..................................................................32
                SECTION 6.9.          Inspection of Records ............................................................33

                                                                              ARTICLE VII
                                                                    REPRESENTATIONS AND WARRANTIES

                SECTION 7.1.          Representations and Warranties of the Property Trustee and the Delaware Trustee ..33
                SECTION 7.2.          Representations and Warranties of Depositor ......................................34

                                                                             ARTICLE VIII
                                                                THE ISSUER TRUSTEES; THE ADMINISTRATORS

                SECTION 8.1.          Certain Duties and Responsibilities ..............................................34
                SECTION 8.2.          Certain Notices ..................................................................36
                SECTION 8.3.          Certain Rights of Property Trustee ...............................................37
                SECTION 8.4.          Not Responsible for Recitals or Issuance of Securities ...........................39
                SECTION 8.5.          May Hold Securities ..............................................................39
                SECTION 8.6.          Compensation; Indemnity; Fees ....................................................39
                SECTION 8.7.          Corporate Property Trustee Required; Eligibility of Trustees and Administrators ..40
                SECTION 8.8.          Conflicting Interests ............................................................41
                SECTION 8.9.          Co-Trustees and Separate Trustee .................................................41
                SECTION 8.10.         Resignation and Removal; Appointment of Successor ................................43
                SECTION 8.11.         Acceptance of Appointment by Successor ...........................................44
</TABLE>

<PAGE>
<TABLE>
<S>                                   <C>                                                                               <C>
                SECTION 8.12.         Merger, Conversion, Consolidation or Succession to Business ......................44
                SECTION 8.13.         Preferential Collection of Claims Against Depositor or Issuer Trust ..............44
                SECTION 8.14.         Trustee May File Proofs of Claim .................................................45
                SECTION 8.15.         Reports by Property Trustee ......................................................45
                SECTION 8.16.         Reports to the Property Trustee ..................................................45
                SECTION 8.17.         Evidence of Compliance with Conditions Precedent .................................46
                SECTION 8.18.         Number of Issuer Trustees ........................................................46
                SECTION 8.19.         Delegation of Power ..............................................................46
                SECTION 8.20.         Appointment of Administrators ....................................................46

                                                                              ARTICLE IX
                                                                  DISSOLUTION, LIQUIDATION AND MERGER

                SECTION 9.1.          Dissolution Upon Expiration Date .................................................47
                SECTION 9.2.          Early Termination ................................................................47
                SECTION 9.3.          Termination ......................................................................48
                SECTION 9.4.          Liquidation ......................................................................48
                SECTION 9.5.          Mergers, Consolidations, Amalgamations or Replacements of the Issuer Trust .......49

                                                                               ARTICLE X
                                                                       MISCELLANEOUS PROVISIONS

                SECTION 10.1.         Limitation of Rights of Holders ..................................................50
                SECTION 10.2.         Amendment ........................................................................51
                SECTION 10.3.         Separability .....................................................................52
                SECTION 10.4.         Governing Law ....................................................................52
                SECTION 10.5.         Payments Due on Non-Business Day .................................................53
                SECTION 10.6.         Successors .......................................................................53
                SECTION 10.7.         Headings .........................................................................53
                SECTION 10.8.         Reports, Notices and Demands .....................................................53
                SECTION 10.9.         Agreement Not to Petition ........................................................54
                SECTION 10.10.        Trust Indenture Act; Conflict with Trust Indenture Act ...........................54
                SECTION 10.11.        Acceptance of Terms of Trust Agreement, Guarantee and Indenture ..................55
                SECTION 10.12.        Counterparts .....................................................................55
</TABLE>

       Exhibit A      Certificate of Trust
       Exhibit B      Form of Certificate Depositary Agreement
       Exhibit C      Form of Common Securities Certificate
       Exhibit D      Form of Capital Securities Certificate
       Exhibit E      Form of Expense Agreement

<PAGE>

                                    AGREEMENT

         Amended and Restated Trust Agreement, dated as of July 19, 2001, among
(i) Morgan Stanley Dean Witter & Co., a Delaware corporation (including any
successors or assigns, the "Depositor"), (ii) The Bank of New York, a New York
banking corporation, as property trustee, (in such capacity, the "Property
Trustee"), (iii) The Bank of New York (Delaware), a Delaware banking
corporation, as Delaware trustee (the "Delaware Trustee") (the Property Trustee
and the Delaware Trustee are referred to collectively herein as the "Issuer
Trustees"), (iv) two individuals selected by the holders of the Common
Securities (as defined herein) to act as administrators with respect to the
Issuer Trust (the "Administrators") and (v) the several Holders, as hereinafter
defined.

                              W I T N E S S E T H:
                              - - - - - - - - - -

         WHEREAS, the Issuer Trust (as defined herein) has been established
under the Delaware Business Trust Act pursuant to a certain Trust Agreement,
dated as of February 12, 1998, as amended by Amendment No. 1 to the Trust
Agreement, dated as of July 6, 2001 (as so amended, the "Original Trust
Agreement"), and by the filing of the Certificate of Trust of the Issuer Trust
with the Secretary of State of the State of Delaware on February 12, 1998, as
amended by the Certificate of Amendment of the Issuer Trust, dated as of July 6,
2001 (as so amended, the "Certificate of Trust"), which Certificate of Trust is
attached as Exhibit A; and

         WHEREAS, the Depositor, the Property Trustee and the Delaware Trustee
desire to amend and restate the Original Trust Agreement in its entirety as set
forth herein to provide for, among other things, (i) the issuance of the Common
Securities by the Issuer Trust to the Depositor, (ii) the issuance and sale of
the Capital Securities by the Issuer Trust pursuant to the Underwriting
Agreement, (iii) the acquisition by the Issuer Trust from the Depositor of all
of the right, title and interest in the Junior Subordinated Debentures and (iv)
the appointment of the Administrators.

         NOW, THEREFORE, in consideration of the agreements and obligations set
forth herein and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, each party, for the benefit of the
other parties and for the benefit of the Holders, hereby amends and restates the
Original Trust Agreement in its entirety and agrees, intending to be legally
bound, as follows:

                                   ARTICLE I

                                  DEFINED TERMS

         SECTION 1.1. Definitions. For all purposes of this Trust Agreement,
except as otherwise expressly provided or unless the context otherwise requires:

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

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

<PAGE>

         (c) The words "include," "includes" and "including" shall be deemed to
be followed by the phrase "without limitation";

         (d) All accounting terms used but not defined herein have the meanings
assigned to them in accordance with United States generally accepted accounting
principles as in effect at the time of computation;

         (e) 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 Trust Agreement; and

         (f) The words "herein", "hereof" and "hereunder" and other words of
similar import refer to this Trust Agreement as a whole and not to any
particular Article, Section or other subdivision.

         "Act" has the meaning specified in Section 6.8.

         "Additional Amount" means, with respect to Trust Securities of a given
Liquidation Amount and/or a given period, the amount of Additional Interest (as
defined in the Junior Subordinated Debt Indenture) paid by the Depositor on a
Like Amount of Junior Subordinated Debentures for such period.

         "Additional Sums" has the meaning specified in the Junior Subordinated
Debt Indenture.

         "Administrators" means each Person appointed in accordance with Section
8.20 solely in such Person's capacity as Administrator of the Issuer Trust and
not in such Person's individual capacity, or any successor Administrator
appointed as herein provided; with the initial Administrators being Alexander C.
Frank and Debra M. Aaron.

         "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" means, with respect to any transfer or
transaction involving a Global Capital Security or beneficial interest therein,
the rules and procedures of the Depositary for such Capital Security, in each
case to the extent applicable to such transaction and as in effect from time to
time.

         "Bankruptcy Event" means, with respect to any Person:

         (a) the entry of a decree or order by a court having jurisdiction in
the premises judging such Person a bankrupt or insolvent, or approving as
properly filed a petition seeking reorganization, arrangement, adjudication or
composition of or in respect of such Person under any applicable federal or
State bankruptcy, insolvency, reorganization or other similar law, or appointing
a receiver, liquidator, assignee, trustee, sequestrator (or other similar
official) of such Person or of any substantial part of its property or ordering
the winding up or liquidation of its

                                       2

<PAGE>

affairs, and the continuance of any such decree or order unstayed and in effect
for a period of 60 consecutive days; or

         (b) the institution by such Person of proceedings to be adjudicated a
bankrupt or insolvent, or the consent by it to the institution of bankruptcy or
insolvency proceedings against it, or the filing by it of a petition or answer
or consent seeking reorganization or relief under any applicable federal or
State bankruptcy, insolvency, reorganization or other similar law, or the
consent by it to the filing of any such petition or to the appointment of a
receiver, liquidator, assignee, trustee, sequestrator (or similar official) of
such Person 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 and its willingness
to be adjudicated a bankrupt, or the taking of corporate action by such Person
in furtherance of any such action.

         "Bankruptcy Laws" has the meaning specified in Section 10.9.

         "Board of Directors" means the board of directors of the Depositor or
the Executive Committee of the board of directors of the Depositor (or any other
committee of the board of directors of the Depositor performing similar
functions) or a committee designated by the board of directors of the Depositor
(or any such committee), comprised of two or more members of the board of
directors of the Depositor or officers of the Depositor, or both.

         "Board Resolution" means a copy of a resolution certified by the
Secretary or an Assistant Secretary of the Depositor to have been duly adopted
by the Depositor's Board of Directors, or such committee of the Board of
Directors or officers of the Depositor to which authority to act on behalf of
the Board of Directors has been delegated, and to be in full force and effect on
the date of such certification, and delivered to the Issuer Trustees.

         "Business Day" means a day other than (a) a Saturday or Sunday and (b)
a day on which banking institutions in The City of New York are authorized or
required by law or executive order to remain closed.

         "Capital Securities Certificate" means a certificate evidencing
ownership of Capital Securities, substantially in the form attached as Exhibit
D.

         "Capital Security" means a preferred undivided beneficial interest in
the assets of the Issuer Trust, having a Liquidation Amount of $25 and having
the rights provided therefor in this Trust Agreement, including the right to
receive Distributions and a Liquidation Distribution as provided herein.

         "Certificate Depositary Agreement" means the agreement among the Issuer
Trust, the Depositor and the Depositary, as the initial Clearing Agency, dated
as of the Closing Date, substantially in the form attached as Exhibit B, as the
same may be amended and supplemented from time to time.

         "Certificate of Trust" has the meaning specified in the preamble to
this Trust Agreement.

                                       3

<PAGE>

         "Clearing Agency" means an organization registered as a "clearing
agency" pursuant to Section 17A of the Exchange Act. The Depositary shall be the
initial Clearing Agency.

         "Clearing Agency Participant" means a broker, dealer, bank, other
financial institution or other Person for whom from time to time a Clearing
Agency effects book-entry transfers and pledges of securities deposited with the
Clearing Agency.

         "Closing Date" has the meaning specified in the Underwriting Agreement.

         "Code" means the Internal Revenue Code of 1986, as amended.

         "Commission" means the Securities and Exchange Commission, as 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.

         "Common Securities Certificate" means a certificate evidencing
ownership of Common Securities, substantially in the form attached as Exhibit C.

         "Common Securities Subscription Agreement" means the common securities
subscription agreement between the Issuer Trust and the Depositor dated July 19,
2001 and any other common securities subscription agreement between the Issuer
Trust and the Depositor relating to up to 139,175 additional Common Securities
issuable in connection with the exercise by the Underwriters of their option to
purchase an additional 4,500,000 Capital Securities.

         "Common Security" means an undivided beneficial interest in the assets
of the Issuer Trust, having a Liquidation Amount of $25 and having the rights
provided therefor in this Trust Agreement, including the right to receive
Distributions and a Liquidation Distribution as provided herein.

         "Corporate Trust Office" means the principal office of the Property
Trustee located in the City of New York which at the time of the execution of
this Trust Agreement is located at 101 Barclay Street, Floor 21 West, New York,
New York 10286; Attention: Corporate Trust Administration.

         "Debenture Event of Default" means an "Event of Default" as defined in
the Indenture.

         "Debenture Redemption Date" means, with respect to any Junior
Subordinated Debentures to be redeemed under the Indenture, the date fixed for
redemption of such Junior Subordinated Debentures under the Indenture.

         "Debt Securities Trustee" means The Bank of New York, a New York
banking corporation, as Trustee under the Indenture and any successor.

         "Delaware Business Trust Act" means Chapter 38 of Title 12 of the
Delaware Code, 12 Del. C. Section 3801, et seq., as it may be amended from time
to time.

                                       4

<PAGE>

         "Delaware Trustee" means the corporation identified as the "Delaware
Trustee" in the preamble to this Trust Agreement solely in its capacity as
Delaware Trustee of the Issuer Trust and not in its individual capacity, or its
successor in interest in such capacity, or any successor trustee appointed as
herein provided.

         "Depositor" has the meaning specified in the preamble to this Trust
Agreement.

         "Depositary" means The Depository Trust Company or any successor
thereto.

         "Direct Action" has the meaning specified in Section 5.13.

         "Distribution Date" has the meaning specified in Section 4.1(a).

         "Distributions" means amounts payable in respect of the Trust
Securities as provided in Section 4.1.

         "Early Termination Event" has the meaning specified in Section 9.2.

         "Event of Default" 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):

         (a) the occurrence of a Debenture Event of Default; or

         (b) default by the Issuer Trust or the Property Trustee in the payment
of any Distribution when it becomes due and payable, and continuation of such
default for a period of 30 days; or

         (c) default by the Issuer Trust or the Property Trustee in the payment
of any Redemption Price of any Trust Security when it becomes due and payable;
or

         (d) default in the performance, or breach, in any material respect, of
any covenant or warranty of the Issuer Trustees in this Trust Agreement (other
than a covenant or warranty, a default in the performance of which or the breach
of which is dealt with in clause (b) or (c) above) and continuation of such
default or breach for a period of 60 days after there has been given, by
registered or certified mail, to the Issuer Trustees and the Depositor by the
Holders of at least 25% in aggregate Liquidation Amount of the Outstanding
Capital Securities, 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

         (e) the occurrence of any Bankruptcy Event with respect to the Property
Trustee or all or substantially all of its property if a successor Property
Trustee has not been appointed within a period of 90 days thereof.

         "Exchange Act" shall mean the Securities Exchange Act of 1934, as
amended, and any successor statute thereto, in each case as amended from time to
time.

                                       5

<PAGE>

         "Expense Agreement" means the Agreement as to Expenses and Liabilities,
dated as of the Closing Date, between the Depositor, in its capacity as holder
of the Common Securities, and the Issuer Trust, substantially in the form
attached as Exhibit E, as amended from time to time.

         "Expiration Date" has the meaning specified in Section 9.1.

         "Global Capital Securities Certificate" means a Capital Securities
Certificate evidencing ownership of Global Capital Securities.

         "Global Capital Security" means a Capital Security, the ownership and
transfers of which shall be made through book entries by a Clearing Agency as
described in Section 5.4.

         "Guarantee Agreement" means the Guarantee Agreement executed and
delivered by the Depositor and The Bank of New York, as Guarantee Trustee,
contemporaneously with the execution and delivery of this Trust Agreement, for
the benefit of the holders of the Capital Securities, as amended from time to
time.

         "Holder" means a Person in whose name a Trust Security or Trust
Securities is registered in the Securities Register; any such Person shall be a
beneficial owner within the meaning of the Delaware Business Trust Act.

         "Indenture" means the Junior Subordinated Debt Indenture, dated as of
March 1, 1998, between the Depositor and the Debt Securities Trustee (as amended
or supplemented from time to time) relating to the issuance of the Junior
Subordinated Debentures.

         "Investment Company Act" means the Investment Company Act of 1940, as
amended.

         "Investment Company Event" means the receipt by the Issuer Trust of an
Opinion of Counsel experienced in such matters, who shall not be an officer or
employee of the Depositor or any of its Affiliates, to the effect that, as a
result of the occurrence of a change in law or regulation or a written change
(including any announced prospective change) in interpretation or application of
law or regulation by any legislative body, court, governmental agency or
regulatory authority, there is more than an insubstantial risk that the Issuer
Trust is or will be considered an "investment company" that is required to be
registered under the Investment Company Act, which change or prospective change
becomes effective or would become effective, as the case may be, on or after the
date of the issuance of the Capital Securities.

         "Issuer Trust" means Morgan Stanley Capital Trust II.

         "Issuer Trustees" means, collectively, the Property Trustee and the
Delaware Trustee.

         "Junior Subordinated Debentures" means the aggregate principal amount
of the Depositor's 7 1/4% Junior Subordinated Deferrable Interest Debentures
maturing on July 31, 2031 unless such maturity is advanced or extended pursuant
to the terms thereof, issued pursuant to the Indenture.

         "Junior Subordinated Debenture Subscription Agreement" means the junior
subordinated debenture subscription agreement between the Issuer Trust and the
Depositor dated July 19, 2001

                                       6

<PAGE>

and any other junior subordinated debenture subscription agreement between the
Issuer Trust and the Depositor relating to up to $115,979,375 aggregate
principal amount of additional junior subordinated debenture issuable in
connection with the exercise by the Underwriters of their option to purchase an
additional $112,500,000 aggregate liquidation amount of Capital Securities.

         "Lien" means any lien, pledge, charge, encumbrance, mortgage, deed of
trust, adverse ownership interest, hypothecation, assignment, security interest
or preference, priority or other security agreement or preferential arrangement
of any kind or nature whatsoever.

         "Like Amount" means (a) with respect to a redemption of Trust
Securities, Trust Securities having a Liquidation Amount equal to that portion
of the principal amount of Junior Subordinated Debentures to be
contemporaneously redeemed in accordance with the Indenture, allocated to the
Common Securities and to the Capital Securities based upon the relative
Liquidation Amounts of such classes and (b) with respect to a distribution of
Junior Subordinated Debentures to Holders of Trust Securities in connection with
a dissolution or liquidation of the Issuer Trust, Junior Subordinated Debentures
having a principal amount equal to the Liquidation Amount of the Trust
Securities of the Holder to whom such Junior Subordinated Debentures are
distributed.

         "Liquidation Amount" means the stated amount of $25 per Trust Security.

         "Liquidation Date" means the date on which Junior Subordinated
Debentures are to be distributed to Holders of Trust Securities in connection
with a dissolution and liquidation of the Issuer Trust pursuant to Section 9.4.

         "Liquidation Distribution" has the meaning specified in Section 9.4(d).

         "Majority in Liquidation Amount of the Capital Securities" or "Majority
in Liquidation Amount of the Common Securities" means, except as provided by the
Trust Indenture Act, Capital Securities or Common Securities, as the case may
be, representing more than 50% of the aggregate Liquidation Amount of all then
Outstanding Capital Securities or Common Securities, as the case may be.

         "Officer's Certificate" means a certificate signed by the Chairman of
the Board, the President, the Chief Financial Officer, the Chief Strategic and
Administrative Officer, the Chief Legal Officer, the Treasurer, any Assistant
Treasurer of the Depositor, or any other person authorized by the Board of
Directors of the Depositor to execute any such written statement, and delivered
to the party provided herein. Any Officer's Certificate delivered with respect
to compliance with a condition or covenant provided for in this Trust Agreement
shall include:

         (a) a statement by the officer signing the Officer's Certificate that
such officer has read the covenant or condition and the definitions relating
thereto;

         (b) a brief statement of the nature and scope of the examination or
investigation undertaken by such officer in rendering the Officer's Certificate;

                                       7

<PAGE>

         (c) a statement that such officer has made such examination or
investigation as, in such officer's opinion, is necessary to enable such officer
to express an informed opinion as to whether or not such covenant or condition
has been complied with; and

         (d) a statement as to whether, in the opinion of each such officer,
such condition or covenant has been complied with.

         "Opinion of Counsel" means a written opinion of counsel, who may,
unless otherwise specified herein, be counsel for or an officer or employee of
the Depositor or any Affiliate of the Depositor.

         "Original Trust Agreement" has the meaning specified in the preamble to
this Trust Agreement.

         "Outstanding," with respect to Trust Securities, means, as of the date
of determination, all Trust Securities theretofore executed and delivered under
this Trust Agreement, except:

         (a) Trust Securities theretofore canceled by the Property Trustee or
delivered to the Property Trustee for cancellation;

         (b) Trust Securities for whose payment or redemption money in the
necessary amount has been theretofore deposited with the Property Trustee or any
Paying Agent for the Holders of such Trust Securities, provided that if such
Trust Securities are to be redeemed, notice of such redemption has been duly
given pursuant to this Trust Agreement; and

         (c) Trust Securities which have been paid or in exchange for or in lieu
of which other Trust Securities have been executed and delivered pursuant to
Sections 5.4, 5.5, 5.6 and 5.13; provided, however, that in determining whether
the Holders of the requisite Liquidation Amount of the Outstanding Capital
Securities have given any request, demand, authorization, direction, notice,
consent or waiver hereunder, Capital Securities owned by the Depositor, or any
Issuer Trustee, any Administrator or any Affiliate of the Depositor or any
Issuer Trustee shall be disregarded and deemed not to be Outstanding, except
that (a) in determining whether any Issuer Trustee shall be protected in relying
upon any such request, demand, authorization, direction, notice, consent or
waiver, only Capital Securities that such Issuer Trustee or such Administrator,
as the case may be, actually knows to be so owned shall be so disregarded and
(b) the foregoing shall not apply at any time when all of the outstanding
Capital Securities are owned by the Depositor, one or more of the Issuer
Trustees, one or more of the Administrators and/or any such Affiliate. Capital
Securities so owned which have been pledged in good faith may be regarded as
Outstanding if the pledgee establishes to the satisfaction of the Administrators
the pledgee's right so to act with respect to such Capital Securities and that
the pledgee is not the Depositor or any Affiliate of the Depositor.

         "Owner" means each Person who is the beneficial owner of Global Capital
Securities as reflected in the records of the Clearing Agency or, if a Clearing
Agency Participant is not the Owner, then as reflected in the records of a
Person maintaining an account with such Clearing Agency (directly or
indirectly), in accordance with the rules of such Clearing Agency.

                                       8

<PAGE>

         "Paying Agent" means any paying agent or co-paying agent appointed
pursuant to Section 5.10 and shall initially be the Property Trustee.

         "Payment Account" means a segregated non-interest-bearing corporate
trust account maintained with the Property Trustee in its trust department for
the benefit of the Holders in which all amounts paid in respect of the Junior
Subordinated Debentures will be held and from which the Property Trustee,
through the Paying Agent, shall make payments to the Holders in accordance with
Sections 4.1 and 4.2.

         "Person" means a legal person, including any individual, corporation,
estate, partnership, joint venture, association, joint stock company, company,
limited liability company, trust, unincorporated organization or government or
any agency or political subdivision thereof, or any other entity of whatever
nature.

         "Property Trustee" means the Person identified as the "Property
Trustee" in the preamble to this Trust Agreement solely in its capacity as
Property Trustee of the Issuer Trust and not in its individual capacity, or its
successor in interest in such capacity, or any successor property trustee
appointed as herein provided.

         "Redemption Date" means, with respect to any Trust Security to be
redeemed, the date fixed for such redemption by or pursuant to this Trust
Agreement; provided that each Debenture Redemption Date and the stated maturity
of the Junior Subordinated Debentures shall be a Redemption Date for a Like
Amount of Trust Securities, including but not limited to any date of redemption
pursuant to the occurrence of any Special Event.

         "Redemption Price" means, with respect to any Trust Security, the
Liquidation Amount of such Trust Security, plus accumulated and unpaid
Distributions to the Redemption Date.

         "Relevant Trustee" has the meaning specified in Section 8.10.

         "Responsible Officer" when used with respect to the Property Trustee
means any officer assigned to the Corporate Trust Office, including any managing
director, vice president, assistant vice president, assistant treasurer,
assistant secretary or any other officer of the Property Trustee customarily
performing functions similar to those performed by any of the above designated
officers and having direct responsibility for the administration of this Trust
Agreement, and also, with respect to a particular matter, any other officer to
whom such matter is referred because of such officer's knowledge of and
familiarity with the particular subject.

         "Securities Act" means the Securities Act of 1933, as amended, and any
successor statute thereto, in each case as amended from time to time.

         "Securities Register" and "Securities Registrar" have the respective
meanings specified in Section 5.5.

         "Senior Indebtedness" has the meaning specified in the Indenture.

         "Special Event" means any Tax Event or Investment Company Event.

                                       9

<PAGE>

         "Tax Event" means the receipt by the Issuer Trust of an Opinion of
Counsel experienced in such matters, who shall not be an officer or employee of
the Depositor or any of its Affiliates, to the effect that, as a result of any
amendment to, or change (including any announced prospective change) in, the
laws (or any regulations thereunder) of the United States or any political
subdivision or taxing authority thereof or therein, or as a result of any
official or administrative pronouncement or action or judicial decision
interpreting or applying such laws or regulations, which amendment or change is
effective or which pronouncement, action or decision is announced on or after
the date of issuance of the Capital Securities, there is more than an
insubstantial risk that (i) the Issuer Trust is, or will be within 90 days of
the delivery of such Opinion of Counsel, subject to United States Federal income
tax with respect to income received or accrued on the Junior Subordinated
Debentures, (ii) interest payable by the Depositor on the Junior Subordinated
Debentures is not, or within 90 days of the delivery of such Opinion of Counsel
will not be, deductible by the Depositor, in whole or in part, for United States
federal income tax purposes, or (iii) the Issuer Trust is, or will be within 90
days of the delivery of such Opinion of Counsel, subject to more than a de
minimis amount of other taxes, duties or other governmental charges.

         "Trust Agreement" means this Amended and Restated Trust Agreement, as
the same may be modified, amended or supplemented in accordance with the
applicable provisions hereof, including (i) all Exhibits hereto, and (ii) for
all purposes of this Amended and Restated Trust Agreement any such modification,
amendment or supplement, the provisions of the Trust Indenture Act that are
deemed to be a part of and govern this Amended and Restated Trust Agreement and
any modification, amendment or supplement, respectively.

         "Trust Indenture Act" means the Trust Indenture Act of 1939 or any
successor statute, in each case as amended from time to time.

         "Trust Property" means (a) the Junior Subordinated Debentures, (b) any
cash on deposit in, or owing to, the Payment Account, and (c) all proceeds and
rights in respect of the foregoing or any other property and assets for the time
being held or deemed to be held by the Property Trustee pursuant to the trusts
of this Trust Agreement.

         "Trust Securities Certificate" means any one of the Common Securities
Certificates or the Capital Securities Certificates.

         "Trust Security" means any one of the Common Securities or the Capital
Securities.

         "Underwriters" has the meaning specified in the Underwriting Agreement.

         "Underwriting Agreement" means the Underwriting Agreement, dated as of
July 12, 2001, among the Issuer Trust, the Depositor and the Underwriters, as
the same may be amended from time to time.

                                       10

<PAGE>

                                   ARTICLE II

                        CONTINUATION OF THE ISSUER TRUST

         SECTION 2.1. Name. The Issuer Trust continued hereby shall be known as
"Morgan Stanley Capital Trust II," as such name may be modified from time to
time by the Administrators following written notice to the Holders of Trust
Securities and the Issuer Trustees, in which name the Administrators and the
Issuer Trustees may engage in the transactions contemplated hereby, make and
execute contracts and other instruments on behalf of the Issuer Trust and sue
and be sued.

         SECTION 2.2. Office of the Delaware Trustee; Principal Place of
Business.

         The address of the Delaware Trustee in the State of Delaware is White
Clay Center, Route 273, Newark, DE 19711, Attention: Corporate Trust
Administration, or such other address in the State of Delaware as the Delaware
Trustee may designate by written notice to the Holders and the Depositor. The
principal executive office of the Issuer Trust is in care of Morgan Stanley Dean
Witter & Co., 1585 Broadway, New York, NY 10036 Attention: Office of the
Secretary.

         SECTION 2.3. Initial Contribution of Trust Property; Organizational
Expenses.

         The Issuer Trust acknowledges receipt in trust from the Depositor in
connection with this Trust Agreement of the sum of $10, which constitutes the
initial Trust Property. The Depositor shall pay all organizational expenses of
the Issuer Trust as they arise or shall, upon request of any Issuer Trustee,
promptly reimburse such Issuer Trustee for any such expenses paid by such Issuer
Trustee. The Depositor shall make no claim upon the Trust Property for the
payment of such expenses.

         SECTION 2.4. Issuance of the Trust Securities.

         The Depositor, both on its own behalf and on behalf of the Issuer Trust
pursuant to the Original Trust Agreement, executed and delivered the
Underwriting Agreement. Contemporaneously with the execution and delivery of
this Trust Agreement, an Administrator, on behalf of the Issuer Trust, shall
execute, manually or by facsimile, in accordance with Section 5.3 and the
Property Trustee shall authenticate in accordance with Section 5.3 and deliver
to the Underwriters, Capital Securities Certificates, registered in the names
requested by the Underwriters, in an aggregate amount of 30,000,000 Capital
Securities having an aggregate Liquidation Amount of $750,000,000, against
receipt of the aggregate purchase price of such Capital Securities of
$750,000,000 by the Property Trustee.

         If the Underwriters exercise their option to purchase all or any
portion of an additional 4,500,000 Capital Securities pursuant to the terms of
the Underwriting Agreement, then an Administrator, on behalf of the Issuer
Trust, shall execute, manually or by facsimile, in accordance with Section 5.3
and the Property Trustee shall authenticate in accordance with Section 5.3 and
deliver to the Underwriters, additional Capital Securities Certificates,
registered in the names requested by the Underwriters, in an aggregate amount of
up to 4,500,000 additional Capital Securities having an aggregate Liquidation
Amount of up to $112,500,000,

                                       11

<PAGE>

against receipt of the aggregate purchase price of such additional Capital
Securities of up to $112,500,000, by the Property Trustee.

         SECTION 2.5. Issuance of the Common Securities; Subscription and
Purchase of Junior Subordinated Debentures.

         Contemporaneously with the execution and delivery of this Trust
Agreement, an Administrator, on behalf of the Issuer Trust, shall execute or
cause to be executed in accordance with Section 5.2 and deliver to the Depositor
a Common Securities Certificate, registered in the name of the Depositor, in an
aggregate amount of 927,836 Common Securities having an aggregate Liquidation
Amount of $23,195,900 against receipt of the aggregate purchase price of such
Common Securities of $23,195,900 by the Property Trustee. Contemporaneously
therewith, an Administrator, on behalf of the Issuer Trust, shall subscribe for
and purchase from the Depositor the Junior Subordinated Debentures, registered
in the name of the Issuer Trust and having an aggregate principal amount equal
to $773,195,900 and, in satisfaction of the purchase price for such Junior
Subordinated Debentures, the Property Trustee, on behalf of the Issuer Trust,
shall deliver to the Depositor the sum of $773,195,900 (being the sum of the
amounts delivered to the Property Trustee pursuant to (i) the second sentence of
Section 2.4, and (ii) the first sentence of this Section 2.5) and receive on
behalf of the Issuer Trust the Junior Subordinated Debentures.

         If the Underwriters exercise their option to purchase additional
Capital Securities pursuant to the terms of the Underwriting Agreement, then an
Administrator, on behalf of the Issuer Trust, shall execute or cause to be
executed in accordance with Section 5.2 and deliver to the Depositor, additional
Common Securities Certificates, registered in the name of the Depositor, in an
aggregate amount of up to 139,175 additional Common Securities having an
aggregate Liquidation Amount of up to $3,479,375 against receipt of the
aggregate purchase price of up to $3,479,375 by the Property Trustee.
Contemporaneously therewith, an Administrator, on behalf of the Issuer Trust,
shall subscribe for and purchase from the Depositor, Junior Subordinated
Debentures, registered in the name of the Issuer Trust and having an aggregate
principal amount of up to $115,979,375 and, in satisfaction of the purchase
price for such Junior Subordinated Debentures, the Property Trustee, on behalf
of the Issuer Trust, shall deliver to the Depositor an aggregate amount equal to
the sum of the amounts delivered to the Property Trustee pursuant to (i) the
third sentence of Section 2.4, and (ii) the third sentence of this Section 2.5,
and receive on behalf of the Issuer Trust such Junior Subordinated Debentures.

         SECTION 2.6. Declaration of Trust.

         The exclusive purposes and functions of the Issuer Trust are to (a)
issue and sell Trust Securities and use the proceeds from such sale to acquire
the Junior Subordinated Debentures, and (b) engage in only those other
activities necessary, convenient or incidental thereto. The Depositor hereby
appoints the Issuer Trustees as trustees of the Issuer Trust, to have all the
rights, powers and duties to the extent set forth herein, and the Issuer
Trustees hereby accept such appointment. The Property Trustee hereby declares
that it will hold the Trust Property in trust upon and subject to the conditions
set forth herein for the benefit of the Issuer Trust and the Holders. The
Depositor hereby appoints the Administrators, with such Administrators having
all rights, powers and duties set forth herein with respect to accomplishing the
purposes of the Issuer

                                       12

<PAGE>

Trust, and the Administrators hereby accept such appointment, provided, however,
that it is the intent of the parties hereto that such Administrators shall not
be trustees with respect to the Issuer Trust and this Trust Agreement shall be
construed in a manner consistent with such intent. The Property Trustee shall
have the right and power to perform those duties assigned to the Administrators.
The Delaware Trustee shall not be entitled to exercise any powers, nor shall the
Delaware Trustee have any of the duties and responsibilities, of the Property
Trustee or the Administrators set forth herein. The Delaware Trustee shall be
one of the trustees of the Issuer Trust for the sole and limited purpose of
fulfilling the requirements of Section 3807 of the Delaware Business Trust Act
and for taking such actions as are required to be taken by a Delaware trustee
under the Delaware Business Trust Act.

         SECTION 2.7. Authorization to Enter into Certain Transactions.

         (a) The Issuer Trustees and the Administrators shall conduct the
affairs of the Issuer Trust in accordance with the terms of this Trust
Agreement. Subject to the limitations set forth in paragraph (b) of this Section
and in accordance with the following provisions (i), (ii) and (iii), the Issuer
Trustees and the Administrators shall act as follows:

             (i) Each Administrator, acting singly or jointly, is authorized, on
behalf of the Trust, to:

                 (A) comply with the Underwriting Agreement regarding the
         issuance and sale of the Capital Securities;

                 (B) assist in compliance with the Securities Act, applicable
         state securities or blue sky laws, and the Trust Indenture Act;

                 (C) assist in the listing of the Capital Securities upon such
         securities exchange or exchanges as shall be determined by the
         Depositor, with the registration of the Capital Securities under the
         Exchange Act, if required, and the preparation and filing of all
         periodic and other reports and other documents pursuant to the
         foregoing;

                 (D) execute the Trust Securities on behalf of the Issuer Trust
         in accordance with this Trust Agreement;

                 (E) execute and deliver an application for a taxpayer
         identification number for the Issuer Trust;

                 (F) execute on behalf of the Issuer Trust any documents that
         the Administrators have the power to execute pursuant to this Trust
         Agreement, including without limitation Junior Subordinated Debenture
         Subscription Agreements, Common Securities Subscription Agreements, a
         Certificate Depositary Agreement and an Expense Agreement, all by and
         between the Issuer Trust and the Depositor; and

                 (G) take any action incidental to the foregoing as necessary or
         advisable to give effect to the terms of this Trust Agreement (and any
         actions

                                       13

<PAGE>

         taken in furtherance of the above prior to the date of this Trust
         Agreement by the Administrators are hereby ratified and confirmed in
         all respects).

         (ii) The Property Trustee shall have the power and authority to act on
behalf of the Issuer Trust with respect to the following matters:

             (A) the establishment of the Payment Account;

             (B) the receipt of the Junior Subordinated Debentures;

             (C) the receipt and collection of interest, principal and any other
         payments made in respect of the Junior Subordinated Debentures in the
         Payment Account;

             (D) the distribution of amounts owed to the Holders in respect of
         the Trust Securities;

             (E) the exercise of all of the rights, powers and privileges of a
         holder of the Junior Subordinated Debentures;

             (F) the sending of notices of default and other information
         regarding the Trust Securities and the Junior Subordinated Debentures
         to the Holders in accordance with this Trust Agreement;

             (G) the distribution of the Trust Property in accordance with the
         terms of this Trust Agreement;

             (H) to the extent provided in this Trust Agreement, the winding up
         of the affairs of and liquidation of the Issuer Trust and the execution
         of the certificate of cancellation with the Secretary of State of the
         State of Delaware; and

             (I) after an Event of Default (other than under the definition of
         such term if such Event of Default is by or with respect to the
         Property Trustee), compliance with the provisions of this Trust
         Agreement and the taking of any action to give effect to the terms of
         this Trust Agreement and protect and conserve the Trust Property for
         the benefit of the Holders (without consideration of the effect of any
         such action on any particular Holder);

provided, however, that nothing in this Section 2.7(a)(ii) shall require the
Property Trustee to take any action that is not otherwise required in this Trust
Agreement.

         (b) So long as this Trust Agreement remains in effect, the Issuer Trust
(or the Issuer Trustees or Administrators acting on behalf of the Issuer Trust)
shall not undertake any business, activities or transaction except as expressly
provided herein or contemplated hereby. In particular, neither the Issuer
Trustees nor the Administrators shall (i) acquire any investments or engage in
any activities not authorized by this Trust Agreement, (ii) sell, assign,
transfer, exchange, mortgage, pledge, set-off or otherwise dispose of any of the
Trust Property or interests therein, including to Holders, except as expressly
provided herein, (iii) take any action that

                                       14

<PAGE>

would reasonably be expected to cause the Issuer Trust to become taxable as a
corporation for United States Federal income tax purposes, (iv) incur any
indebtedness for borrowed money or issue any other debt, or (v) take or consent
to any action that would result in the placement of a Lien on any of the Trust
Property. The Property Trustee shall defend all claims and demands of all
Persons at any time claiming any Lien on any of the Trust Property adverse to
the interest of the Issuer Trust or the Holders in their capacity as Holders.

         (c) In connection with the issue and sale of the Capital Securities,
the Depositor shall have the right and responsibility to assist the Issuer Trust
with respect to, or effect on behalf of the Issuer Trust, the following (and any
actions taken by the Depositor in furtherance of the following prior to the date
of this Trust Agreement are hereby ratified and confirmed in all respects):

             (i) the preparation and filing by the Issuer Trust, and execution
         on behalf of the Issuer Trust, of a registration statement, and a
         prospectus in relation to the Capital Securities, including any
         amendments thereto and the taking of any action necessary or desirable
         to sell the Capital Securities in a transaction or a series of
         transactions not exempt from the registration requirements of the
         Securities Act;

             (ii) the determination of the States in which to take appropriate
         action to qualify or register for sale all or part of the Capital
         Securities and the determination of any and all such acts, other than
         actions that must be taken by or on behalf of the Issuer Trust, and the
         advice to the Issuer Trustees of actions they must take on behalf of
         the Issuer Trust, and the preparation for execution and filing of any
         documents to be executed and filed by the Issuer Trust or on behalf of
         the Issuer Trust, as the Depositor deems necessary or advisable in
         order to comply with the applicable laws of any such States in
         connection with the sale of the Capital Securities;

             (iii) the negotiation of the terms of, and the execution and
         delivery of, the Underwriting Agreement providing for the sale of the
         Capital Securities;

             (iv) compliance with the listing requirements of the Capital
         Securities upon such securities exchange or exchanges as shall be
         determined by the Depositor, the registration of the Capital Securities
         under the Exchange Act, if required, and the preparation and filing of
         all periodic and other reports and other documents pursuant to the
         foregoing; and

             (v) the taking of any other actions necessary or desirable to carry
         out any of the foregoing activities.

         (d) Notwithstanding anything herein to the contrary, the Administrators
and the Property Trustee are authorized and directed to conduct the affairs of
the Issuer Trust and to operate the Issuer Trust so that the Issuer Trust will
not be deemed to be an "investment company" required to be registered under the
Investment Company Act, and will not be taxable as a corporation for the United
States Federal income tax purposes and so that the Junior Subordinated
Debentures will be treated as indebtedness of the Depositor for United States
Federal income tax purposes. In this connection, the Property Trustee and the
Holders of Common Securities are authorized to take any action, not inconsistent
with applicable law, the Certificate of Trust or this Trust Agreement, that the
Property Trustee and Holders of

                                       15

<PAGE>

Common Securities determine in their discretion to be necessary or desirable for
such purposes, as long as such action does not adversely affect in any material
respect the interests of the Holders of the Outstanding Capital Securities. In
no event shall the Administrators or the Issuer Trustees be liable to the Issuer
Trust or the Holders for any failure to comply with this section that results
from a change in law or regulations or in the interpretation thereof.

         SECTION 2.8. Assets of Trust.

         The assets of the Issuer Trust shall consist solely of the Trust
Property.

         SECTION 2.9. Title to Trust Property.

         Legal title to all Trust Property shall be vested at all times in the
Property Trustee (in its capacity as such) and shall be held and administered by
the Property Trustee for the benefit of the Issuer Trust and the Holders in
accordance with this Trust Agreement.

                                  ARTICLE III

                                 PAYMENT ACCOUNT

         SECTION 3.1. Payment Account.

         (a) On or prior to the Closing Date, the Property Trustee shall
establish the Payment Account. The Property Trustee and its agents shall have
exclusive control and sole right of withdrawal with respect to the Payment
Account for the purpose of making deposits in and withdrawals from the Payment
Account in accordance with this Trust Agreement. All monies and other property
deposited or held from time to time in the Payment Account shall be held by the
Property Trustee in the Payment Account for the exclusive benefit of the Holders
and for distribution as herein provided, including (and subject to) any priority
of payments provided for herein.

         (b) The Property Trustee shall deposit in the Payment Account, promptly
upon receipt, all payments of principal of or interest on, and any other
payments or proceeds with respect to, the Junior Subordinated Debentures.
Amounts held in the Payment Account shall not be invested by the Property
Trustee pending distribution thereof.

                                   ARTICLE IV

                            DISTRIBUTIONS; REDEMPTION

         SECTION 4.1. Distributions.

         (a) The Trust Securities represent undivided beneficial interests in
the Trust Property, and Distributions (including of Additional Amounts) will be
made on the Trust Securities at the rate and on the dates that payments of
interest (including of Additional Interest, as defined in the Indenture) are
made on the Junior Subordinated Debentures. Accordingly:

                                       16

<PAGE>

         (i) Distributions on the Trust Securities shall be cumulative and will
accumulate whether or not there are funds of the Issuer Trust available for the
payment of Distributions. Distributions shall accumulate from and including July
19, 2001, and, except in the event (and to the extent) that the Depositor
exercises its right to defer the payment of interest on the Junior Subordinated
Debentures pursuant to the Indenture, shall be payable quarterly in arrears not
later than 10:00 a.m. (New York City time) on January 31, April 30, July 31 and
October 31 of each year, commencing on October 31, 2001. If any date on which a
Distribution is otherwise payable on the Trust Securities is not a Business Day,
then the payment of such Distribution shall be made on the next succeeding day
that is a Business Day (without any interest or other payment in respect of any
such delay), with the same force and effect as if made on the date on which such
payment was originally payable (each date on which distributions are payable in
accordance with this Section 4.1(a), a "Distribution Date").

         (ii) The Trust Securities shall be entitled to Distributions payable at
a rate of 7 1/4% per annum of the Liquidation Amount of the Trust Securities.
The amount of Distributions payable for any period less than a full Distribution
period shall be computed on the basis of a 360-day year of twelve 30-day months
and the actual number of days elapsed in a partial month in a period.
Distributions payable for each full Distribution period will be computed by
dividing the rate per annum by four (4). The amount of Distributions payable for
any period shall include any Additional Amounts in respect of such period.

         (iii) So long as no Debenture Event of Default has occurred and is
continuing, the Depositor has the right under the Indenture to defer the payment
of interest on the Junior Subordinated Debentures at any time and from time to
time for a period not exceeding 20 consecutive quarterly periods (an "Extension
Period"), provided that no Extension Period may extend beyond the stated
maturity of the Junior Subordinated Debentures (as such stated maturity may be
shortened or extended in accordance with the terms of the Indenture). As a
consequence of any such deferral, quarterly Distributions on the Trust
Securities by the Issuer Trust will also be deferred to the extent and except as
provided in the Junior Substantial Debentures, and the amount of Distributions
to which Holders of the Trust Securities are entitled that have been so deferred
will accumulate additional Distributions thereon at the rate per annum of
7 1/4%, compounded quarterly from the most recent Distribution payment date on
which Distributions were paid, computed on the basis of a 360-day year of twelve
30-day months and the actual number of days elapsed in a partial month in such
period. Additional Distributions payable for each full Distribution period will
be computed by dividing the rate per annum by four (4). The term "Distributions"
as used in Section 4.1 shall include any such additional Distributions provided
pursuant to this Section 4.1(a)(iii).

         (iv) Distributions on the Trust Securities shall be made by the
Property Trustee from the Payment Account and shall be payable not later than
10:00 a.m. (New York City time) on each Distribution Date only to the extent
that the Issuer Trust has funds then on hand and available in the Payment
Account for the payment of such Distributions.

                                       17

<PAGE>

         (b) Distributions on the Trust Securities with respect to a
Distribution Date shall be payable to the Holders thereof as they appear on the
Securities Register for the Trust Securities at the close of business on the
relevant record date, which shall be at the close of business on the 15th
calendar day next preceding the relevant Distribution Date, whether or not a
Business Day.

         SECTION 4.2. Redemption.

         (a) On each Debenture Redemption Date and on the stated maturity of the
Junior Subordinated Debentures, the Issuer Trust will be required to redeem a
Like Amount of Trust Securities at the Redemption Price.

         (b) Notice of redemption shall be given by the Property Trustee by
first-class mail, postage prepaid, mailed not less than 30 nor more than 60 days
prior to the Redemption Date to each Holder of Trust Securities to be redeemed,
at such Holder's address appearing in the Security Register. All notices of
redemption shall state:

             (i) the Redemption Date;

             (ii) the Redemption Price, or if the Redemption Price cannot be
         calculated prior to the time the notice is required to be sent, the
         estimate of the Redemption Price provided pursuant to the Indenture
         together with a statement that it is an estimate and that the actual
         Redemption Price will be calculated on the third Business Day prior to
         the Redemption Date (and if an estimate is provided, a further notice
         shall be sent of the actual Redemption Price on the date, or as soon as
         practicable thereafter, that notice of such actual Redemption Price is
         received pursuant to the Indenture);

             (iii) the CUSIP number or CUSIP numbers of the Capital Securities
         affected;

             (iv) if less than all the Outstanding Trust Securities are to be
         redeemed, the identification and the total Liquidation Amount of the
         particular Trust Securities to be redeemed;

             (v) that, on the Redemption Date, the Redemption Price will become
         due and payable upon each such Trust Security to be redeemed and that
         Distributions thereon will cease to accumulate on and after said date,
         except as provided in Section 4.2(d) below; and

             (vi) the place or places where Trust Securities are to be
         surrendered for the payment of the Redemption Price.

         The Issuer Trust in issuing the Trust Securities shall use "CUSIP"
numbers, and the Property Trustee shall indicate the "CUSIP" numbers of the
Trust Securities in notices of redemption and related materials 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 Trust
Securities or as contained in any notice of redemption and related material.

         (c) The Trust Securities redeemed on each Redemption Date shall be
redeemed at the Redemption Price with the applicable proceeds from the
contemporaneous redemption of Junior

                                       18

<PAGE>

Subordinated Debentures. Redemptions of the Trust Securities shall be made and
the Redemption Price shall be payable on each Redemption Date only to the extent
that the Issuer Trust has funds then on hand and legally available in the
Payment Account for the payment of such Redemption Price.

         (d) If the Issuer Trust gives a notice of redemption in respect of any
Capital Securities, then, by 10:00 a.m., New York City time, on the Redemption
Date, subject to Section 4.2(c), the Property Trustee will, with respect to
Capital Securities held in book-entry form, irrevocably deposit with the
Clearing Agency for such Capital Securities, to the extent available therefor,
funds sufficient to pay the applicable Redemption Price and will give such
Clearing Agency irrevocable instructions and authority to pay the Redemption
Price to the Holders of the Capital Securities. With respect to Capital
Securities that are not held in book-entry form, the Property Trustee, subject
to Section 4.2(c), will irrevocably deposit with the Paying Agent, to the extent
available therefor, funds sufficient to pay the applicable Redemption Price and
will give the Paying Agent irrevocable instructions and authority to pay the
Redemption Price to the Holder of the Capital Securities upon surrender of their
Capital Securities Certificates. Notwithstanding the foregoing, Distributions
payable on or prior to the Redemption Date for any Trust Securities called for
redemption shall be payable to the Holders of such Trust Securities as they
appear on the Securities Register for the Trust Securities on the relevant
record dates for the related Distribution Dates. If notice of redemption shall
have been given and funds deposited as required, then, upon the date of such
deposit, all rights of Holders holding Trust Securities so called for redemption
will cease, except the right of such Holders to receive the Redemption Price and
any Distribution payable in respect of the Trust Securities on or prior to the
Redemption Date, but without interest, and such Securities will cease to be
Outstanding. In the event that any date on which any applicable Redemption Price
is payable is not a Business Day, then payment of the applicable Redemption
Price payable on such date will be made on the next succeeding day that is a
Business Day (and without any interest or other payment in respect of any such
delay) with the same force and effect as if made on such date. In the event that
payment of the Redemption Price in respect of any Trust Securities called for
redemption is improperly withheld or refused and not paid either by the Issuer
Trust or by the Depositor pursuant to the Guarantee Agreement, Distributions on
such Trust Securities will continue to accumulate, as set forth in Section 4.1,
from the Redemption Date originally established by the Issuer Trust for such
Trust Securities to the date such applicable Redemption Price is actually paid,
in which case the actual payment date will be the date fixed for redemption for
purposes of calculating the applicable Redemption Price.

         (e) Subject to Section 4.3(a), if less than all the Outstanding Trust
Securities are to be redeemed on a Redemption Date, then the aggregate
Liquidation Amount of such Trust Securities to be redeemed shall be allocated
pro rata to the Common Securities and the Capital Securities based on the
relative Liquidation Amounts of such classes. The particular Capital Securities
to be redeemed shall be selected on a pro rata basis based on their respective
Liquidation Amounts not more than 60 days prior to the Redemption Date by the
Property Trustee from the Outstanding Capital Securities not previously called
for redemption, or if the Capital Securities are then held in the form of a
Global Capital Security in accordance with the customary procedures for the
Clearing Agency. The Property Trustee shall promptly notify the Securities
Registrar in writing of the Capital Securities selected for redemption and, in
the case of any Capital Securities selected for partial redemption, the
Liquidation Amount thereof to be

                                       19

<PAGE>

redeemed. For all purposes of this Trust Agreement, unless the context otherwise
requires, all provisions relating to the redemption of Capital Securities shall
relate, in the case of any Capital Securities redeemed or to be redeemed only in
part, to the portion of the aggregate Liquidation Amount of Capital Securities
that has been or is to be redeemed.

         SECTION 4.3. Subordination of Common Securities.

         (a) Payment of Distributions (including Additional Amounts, if
applicable) on, the Redemption Price of, and the Liquidation Distribution in
respect of, the Trust Securities, as applicable, shall be made, subject to
Section 4.2(e), pro rata among the Common Securities and the Capital Securities
based on the Liquidation Amount of such Trust Securities; provided, however,
that if on any Distribution Date or Redemption Date any Event of Default
resulting from a Debenture Event of Default in Section 5.1 (a) or 5.1 (b) of the
Indenture shall have occurred and be continuing, no payment of any Distribution
(including any Additional Amounts) on, Redemption Price of, or Liquidation
Distribution in respect of, any Common Security, and no other payment on account
of the redemption, liquidation or other acquisition of Common Securities, shall
be made unless payment in full in cash of all accumulated and unpaid
Distributions (including any Additional Amounts) on all Outstanding Capital
Securities for all Distribution periods terminating on or prior thereto, or, in
the case of payment of the Redemption Price, the full amount of such Redemption
Price on all Outstanding Capital Securities then called for redemption, or in
the case of payment of the Liquidation Distribution the full amount of such
Liquidation Distribution on all Outstanding Capital Securities, shall have been
made or provided for, and all funds immediately available to the Property
Trustee shall first be applied to the payment in full in cash of all
Distributions (including any Additional Amounts) on, the Redemption Price of, or
the Liquidation Distribution in respect of Capital Securities then due and
payable. The existence of an Event of Default does not entitle the Holders of
Trust Securities to accelerate the maturity thereof.

         (b) In the case of the occurrence of any Event of Default resulting
from any Debenture Event of Default, the Holder of the Common Securities shall
have no right to act with respect to any such Event of Default under this Trust
Agreement until the effects of all such Events of Default with respect to the
Capital Securities have been cured, waived or otherwise eliminated. Until all
such Events of Default under this Trust Agreement with respect to the Capital
Securities have been so cured, waived or otherwise eliminated, the Property
Trustee shall act solely on behalf of the Holders of the Capital Securities and
not on behalf of the Holder of the Common Securities, and only the Holders of
the Capital Securities will have the right to direct the Property Trustee to act
on their behalf.

         SECTION 4.4. Payment Procedures.

         Payments of Distributions (including any Additional Amounts) in respect
of the Capital Securities shall be made by check mailed to the address of the
Person entitled thereto as such address shall appear on the Securities Register
or, if the Capital Securities are held by a Clearing Agency, such Distributions
shall be made to the Clearing Agency in immediately available funds, which will
credit the relevant accounts on the applicable Distribution Dates. Payments of
Distributions to Holders of $1,000,000 or more in aggregate Liquidation Amount
of Capital Securities may be made by wire transfer of immediately available
funds upon written request of

                                       20

<PAGE>

such Holder to the Securities Registrar not later than 15 calendar days prior to
the date on which the Distribution is payable. Payments in respect of the Common
Securities shall be made in such manner as shall be mutually agreed between the
Property Trustee and the Holder of the Common Securities.

         SECTION 4.5. Tax Returns and Reports.

         The Administrators shall prepare (or cause to be prepared), at the
Depositor's expense, and file all United States Federal, state and local tax and
information returns and reports required to be filed by or in respect of the
Issuer Trust. In this regard, the Administrators shall (a) prepare and file (or
cause to be prepared and filed) all Internal Revenue Service forms required to
be filed in respect of the Issuer Trust in each taxable year of the Issuer Trust
and (b) prepare and furnish (or cause to be prepared and furnished) to each
Holder all Internal Revenue Service forms required to be provided by the Issuer
Trust. The Administrators shall provide the Depositor and the Property Trustee
with a copy of all such returns and reports promptly after such filing or
furnishing. The Issuer Trustees shall comply with United States Federal
withholding and backup withholding tax laws and information reporting
requirements with respect to any payments to Holders under the Trust Securities.

         On or before December 15 of each year during which any Capital
Securities are Outstanding, the Administrators shall furnish to the Property
Trustee such information as may be reasonably requested by the Property Trustee
in order that the Property Trustee may prepare the information which it is
required to report for such year on Internal Revenue Service Forms 1096 and 1099
pursuant to Section 6049 of the Code. Such information shall include the amount
of original issue discount includible in income for each Outstanding Capital
Security during such year.

         SECTION 4.6. Payment of Taxes, Duties, Etc. of the Issuer Trust.

         Upon receipt under the Junior Subordinated Debentures of Additional
Sums, the Property Trustee shall promptly pay, or cause the Administrators to
pay in connection with the filing of any tax returns or reports pursuant to
Section 4.5, any taxes, duties or governmental charges of whatsoever nature
(other than withholding taxes) imposed on the Issuer Trust by the United States
or any other taxing authority.

         SECTION 4.7. Payments under Indenture or Pursuant to Direct Actions.

         Any amount payable hereunder to any Holder of Capital Securities shall
be reduced by the amount of any corresponding payment such Holder has directly
received pursuant to Section 5.8 of the Indenture or Section 5.13 of this Trust
Agreement.

         SECTION 4.8. Liability of the Holder of Common Securities.

         The Holder of Common Securities shall be liable for the debts and
obligations of the Issuer Trust as set forth in Section 6.7 of the Indenture
regarding allocation of expenses.

                                       21

<PAGE>

                                   ARTICLE V

                          TRUST SECURITIES CERTIFICATES

         SECTION 5.1. Initial Ownership.

         Upon the creation of the Issuer Trust and the contribution by the
Depositor pursuant to Section 2.3 and until the issuance of the Trust
Securities, and at any time during which no Trust Securities are Outstanding,
the Depositor shall be the sole beneficial owner of the Issuer Trust.

         SECTION 5.2. The Trust Securities Certificates.

         (a) The Trust Securities Certificates shall be issued in multiples of
$25 and shall be executed on behalf of the Issuer Trust by manual or facsimile
signature of at least one Administrator. Trust Securities Certificates bearing
the manual signatures of individuals who were, at the time when such signatures
shall have been affixed, authorized to sign on behalf of the Issuer Trust, shall
be validly issued and entitled to the benefits of this Trust Agreement,
notwithstanding that such individuals or any of them shall have ceased to be so
authorized prior to the delivery of such Trust Securities Certificates or did
not hold such offices at the date of delivery of such Trust Securities
Certificates. A transferee of a Trust Securities Certificate shall become a
Holder, and shall be entitled to the rights and subject to the obligations of a
Holder hereunder, upon due registration of such Trust Securities Certificate in
such transferee's name pursuant to Section 5.5.

         (b) Upon their original issuance, Capital Securities Certificates shall
be issued in the form of one or more fully registered Global Capital Securities
Certificates which will be deposited with or on behalf of the Depositary and
registered in the name of the Depositary's nominee. Unless and until it is
exchangeable in whole or in part for the Capital Securities in definitive form,
a global security may not be transferred except as a whole by the Depositary to
a nominee of the Depositary or by a nominee of the Depositary to the Depositary
or another nominee of the Depositary or by the Depositary or any such nominee to
a successor of such Depositary or a nominee of such successor.

         (c) Common Securities Certificates representing the Common Securities
shall be issued to the Depositor in the form of one or more definitive Common
Securities Certificates.

         SECTION 5.3. Execution and Delivery of Trust Securities Certificates.

         At the Closing Date, and on the date, if any, on which the Underwriters
exercise their option to purchase additional Capital Securities pursuant to the
terms of the Underwriting Agreement, as applicable, at least one of the
Administrators shall cause Trust Securities Certificates, in an aggregate
Liquidation Amount as provided in Sections 2.4 and 2.5, to be executed on behalf
of the Issuer Trust by manual or facsimile signature. The Capital Securities so
executed shall be delivered to the Property Trustee and upon such delivery the
Property Trustee shall manually authenticate upon the written order of the
Depositor such Capital Securities Certificates and deliver such Capital
Securities Certificates upon the written order of the Depositor, executed by an
authorized officer thereof, without further corporate action by the Depositor,
in authorized denominations.

                                       22

<PAGE>

         SECTION 5.4. Global Capital Security.

         (a) Any Global Capital Security issued under this Trust Agreement shall
be registered in the name of the nominee of the Clearing Agency and delivered to
such custodian therefor, and such Global Capital Security shall constitute a
single Capital Security for all purposes of this Trust Agreement.

         (b) Notwithstanding any other provision in this Trust Agreement, a
Global Capital Security may not be exchanged in whole or in part for Capital
Securities registered, and no transfer of the Global Capital Security in whole
or in part may be registered, in the name of any Person other than the Clearing
Agency for such Global Capital Security, or its nominee thereof unless (i) such
Clearing Agency advises the Property Trustee in writing that such Clearing
Agency is no longer willing or able to properly discharge its responsibilities
as Clearing Agency with respect to such Global Capital Security or if it ceases
to be a Clearing Agency under the Exchange Act, and the Depositor is unable to
locate a qualified successor within 90 days after receiving such notice or
becoming aware that the Depositary is no longer so registered, (ii) the Issuer
Trust at its option advises the Depositary in writing that it elects to
terminate the book-entry system through the Clearing Agency, or (iii) there
shall have occurred and be continuing an Event of Default.

         (c) If a Capital Security is to be exchanged in whole or in part for a
beneficial interest in a Global Capital Security, then either (i) such Global
Capital Security shall be so surrendered for exchange or cancellation as
provided in this Article V or (ii) the aggregate Liquidation Amount thereof
shall be reduced or increased by an amount equal to the portion thereof to be so
exchanged or cancelled or equal to the Liquidation Amount of such other Capital
Security to be so exchanged for a beneficial interest therein, as the case may
be, by means of an appropriate adjustment made on the records of the Security
Registrar, whereupon the Property Trustee, in accordance with the Applicable
Procedures, shall instruct the Clearing Agency or its authorized representative
to make a corresponding adjustment to its records. Upon any such surrender or
adjustment of a Global Capital Security by the Clearing Agency, accompanied by
registration instructions, the Property Trustee shall, subject to Section 5.4(b)
and as otherwise provided in this Article V, authenticate and deliver any
Capital Securities issuable in exchange for such Global Capital Security (or any
portion thereof) in accordance with the instructions of the Clearing Agency. The
Property Trustee shall not be liable for any delay in delivery of such
instructions and may conclusively rely on, and shall be fully protected in
relying on, such instructions.

         (d) Every Capital Security authenticated and delivered upon
registration of transfer of, or in exchange for or in lieu of, a Global Capital
Security or any portion thereof, whether pursuant to this Article V or Article
IV or otherwise, shall be authenticated and delivered in the form of, and shall
be, a Global Capital Security, unless such Global Capital Security is registered
in the name of a Person other than the Clearing Agency for such Global Capital
Security or a nominee thereof.

         (e) The Clearing Agency or its nominee, as the registered owner of a
Global Capital Security, shall be considered the Holder of the Capital
Securities represented by such Global Capital Security for all purposes under
this Trust Agreement and the Capital Securities, and

                                       23

<PAGE>

owners of beneficial interests in such Global Capital Security shall hold such
interests pursuant to the Applicable Procedures and, except as otherwise
provided herein, shall not be entitled to receive physical delivery of any such
Capital Securities in definitive form and shall not be considered the Holders
thereof under this Trust Agreement. Accordingly, any such owner's beneficial
interest in the Global Capital Security shall be shown only on, and the transfer
of such interest shall be effected only through, records maintained by the
Clearing Agency or its nominee. Neither the Property Trustee nor the Securities
Registrar shall have any liability in respect of any transfers effected by the
Clearing Agency.

         (f) The rights of owners of beneficial interests in a Global Capital
Security shall be exercised only through the Clearing Agency and shall be
limited to those established by law and agreements between such owners and the
Clearing Agency.

         SECTION 5.5. Registration of Transfer and Exchange Generally; Certain
Transfers and Exchanges; Capital Securities Certificates.

         (a) The Property Trustee shall keep or cause to be kept at its
Corporate Trust Office a register or registers for the purpose of registering
Capital Securities Certificates and transfers and exchanges of Capital
Securities Certificates in which the registrar and transfer agent with respect
to the Capital Securities (the "Securities Registrar"), subject to such
reasonable regulations as it may prescribe, shall provide for the registration
of Capital Securities Certificates and Common Securities Certificates (subject
to Section 5.11 in the case of Common Securities Certificates) and registration
of transfers and exchanges of Capital Securities Certificates as herein
provided. Such register is herein sometimes referred to as the "Securities
Register." The Property Trustee is hereby appointed "Securities Registrar" for
the purpose of registering Capital Securities and transfers of Capital
Securities as herein provided.

         Upon surrender for registration of transfer of any Capital Security at
the offices or agencies of the Property Trustee designated for that purpose an
Administrator shall execute, and the Property Trustee shall authenticate and
deliver, in the name of the designated transferee or transferees, one or more
new Capital Securities of the same series of any authorized denominations of
like tenor and aggregate Liquidation Amount and bearing such legends as may be
required by this Trust Agreement.

         At the option of the Holder, Capital Securities may be exchanged for
other Capital Securities of any authorized denominations, of like tenor and
aggregate Liquidation Amount and bearing such legends as may be required by this
Trust Agreement, upon surrender of the Capital Securities to be exchanged as
such office or agency. Whenever any securities are so surrendered for exchange,
an Administrator shall execute and the Property Trustee shall authenticate and
deliver the Capital Securities that the Holder making the exchange is entitled
to receive.

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

                                       24

<PAGE>

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

         No service charge shall be made to a Holder for any transfer or
exchange of Capital Securities, but the Property Trustee may require payment of
a sum sufficient to cover any tax or other governmental charge that may be
imposed in connection with any transfer or exchange of Capital Securities.

         Neither the Issuer Trust nor the Property Trustee shall be required,
pursuant to the provisions of this Section, (i) to issue, register the transfer
of or exchange any Capital Security during a period beginning at the opening of
business 15 days before the first mailing of the notice of redemption, or (ii)
to register the transfer of or exchange any Capital Security so selected for
redemption in whole or in part, except, in the case of any such Capital Security
to be redeemed in part, any portion thereof not to be redeemed.

         (b) Certain Transfers and Exchanges. Trust Securities may only be
transferred, in whole or in part, in accordance with the terms and conditions
set forth in this Trust Agreement. To the fullest extent permitted by law, any
transfer or purported transfer of any Trust Security not made in accordance with
this Trust Agreement shall be null and void.

             (i) Non-Global Security to Non-Global Security. A Capital Security
         that is not a Global Capital Security may be transferred, in whole or
         in part, to a Person who takes delivery in the form of another Trust
         Security that is not a Global Security as provided in Section 5.5(a).

             (ii) Free Transferability. Subject to this Section 5.5, Capital
         Securities shall be freely transferable.

             (iii) Exchanges Between Global Capital Security and Non-Global
         Capital Security. A beneficial interest in a Global Capital Security
         may be exchanged for a Capital Security that is not a Global Capital
         Security as provided in Section 5.4.

         SECTION 5.6. Mutilated, Destroyed, Lost or Stolen Trust Securities
Certificates.

         If (a) any mutilated Trust Securities Certificate shall be surrendered
to the Securities Registrar, or if the Securities Registrar shall receive
evidence to its satisfaction of the destruction, loss or theft of any Trust
Securities Certificate and (b) there shall be delivered to the Securities
Registrar and the Administrators such security or indemnity as may be required
by them to save each of them harmless, then in the absence of notice that such
Trust Securities Certificate shall have been acquired by a bona fide purchaser,
the Administrators, or any one of them, on behalf of the Issuer Trust shall
execute and make available for delivery, and the Property Trustee shall
authenticate, in exchange for or in lieu of any such mutilated, destroyed, lost
or stolen Trust Securities Certificate, a new Trust Securities Certificate of
like class, tenor and denomination. In connection with the issuance of any new
Trust Securities Certificate under this Section, the Administrators or the
Securities Registrar may require the payment of a sum sufficient to cover any
tax or other governmental charge that may be imposed in connection

                                       25

<PAGE>

therewith. Any duplicate Trust Securities Certificate issued pursuant to this
Section shall constitute conclusive evidence of an undivided beneficial interest
in the assets of the Issuer Trust corresponding to that evidenced by the lost,
stolen or destroyed Trust Certificate, as if originally issued, whether or not
the lost, stolen or destroyed Trust Securities Certificate shall be found at any
time.

         SECTION 5.7. Persons Deemed Holders.

         The Issuer Trustees or the Securities Registrar shall treat the Person
in whose name any Trust Securities are issued as the owner of such Trust
Securities for the purpose of receiving Distributions and for all other purposes
whatsoever, and none of the Issuer Trustees, the Administrators nor the
Securities Registrar shall be bound by any notice to the contrary.

         SECTION 5.8. Access to List of Holders' Names and Addresses.

         Each Holder and each Owner shall be deemed to have agreed not to hold
the Depositor, the Property Trustee, or the Administrators accountable by reason
of the disclosure of its name and address, regardless of the source from which
such information was derived.

         SECTION 5.9. Maintenance of Office or Agency.

         The Property Trustee shall designate, with the consent of the
Administrators, which consent shall not be unreasonably withheld, an office or
offices or agency or agencies where Capital Securities Certificates may be
surrendered for registration of transfer or exchange and where notices and
demands to or upon the Issuer Trustees in respect of the Trust Securities
Certificates may be served. The Property Trustee initially designates its
Corporate Trust Office at 101 Barclay Street, Floor 21 West, New York, NY 10286,
Attention: Corporate Trust Administration, as its corporate trust office for
such purposes. The Property Trustee shall give prompt written notice to the
Depositor, the Administrators and to the Holders of any change in the location
of the Securities Register or any such office or agency.

         SECTION 5.10. Appointment of Paying Agent.

         The Paying Agent shall make Distributions to Holders from the Payment
Account and shall report the amounts of such Distributions to the Property
Trustee and the Administrators. Any Paying Agent shall have the revocable power
to withdraw funds from the Payment Account solely for the purpose of making the
Distributions referred to above. The Property Trustee may revoke such power and
remove any Paying Agent in its sole discretion. The Paying Agent shall initially
be the Property Trustee. Any Person acting as Paying Agent shall be permitted to
resign as Paying Agent upon 30 days' written notice to the Administrators and
the Property Trustee. In the event that the Property Trustee shall no longer be
the Paying Agent or a successor Paying Agent shall resign or its authority to
act be revoked, the Property Trustee shall appoint a successor (which shall be a
bank or trust company) that is reasonably acceptable to the Administrators to
act as Paying Agent. Such successor Paying Agent or any additional Paying Agent
appointed by the Property Trustee shall execute and deliver to the Issuer
Trustees an instrument in which such successor Paying Agent or additional Paying
Agent shall agree with the Issuer Trustees that as Paying Agent, such successor
Paying Agent or additional Paying Agent will hold all sums, if any, held by it
for payment to the Holders in trust for the benefit of the

                                       26

<PAGE>

Holders entitled thereto until such sums shall be paid to such Holders. The
Paying Agent shall return all unclaimed funds to the Property Trustee and upon
removal of a Paying Agent such Paying Agent shall also return all funds in its
possession to the Property Trustee. The provisions of Sections 8.1, 8.3 and 8.6
herein shall apply to the Bank also in its role as Paying Agent, for so long as
the Bank shall act as Paying Agent and, to the extent applicable, to any other
paying agent appointed hereunder. Any reference in this Trust Agreement to the
Paying Agent shall include any co-paying agent chosen by the Property Trustee
unless the context requires otherwise.

         SECTION 5.11. Ownership of Common Securities by Depositor.

         At the Closing Date, the Depositor shall acquire and retain beneficial
and record ownership of the Common Securities. Neither the Depositor nor any
successor Holder of the Common Securities may transfer less than all the Common
Securities, and the Depositor or any such successor Holder may transfer the
Common Securities only (i) in connection with a consolidation or merger of the
Depositor into another Person or any conveyance, transfer or lease by the
Depositor of its properties and assets substantially as an entirety to any
Person, pursuant to Section 8.1 of the Indenture, or (ii) to an Affiliate of the
Depositor in compliance with applicable law (including the Securities Act and
applicable state securities and blue sky laws). To the fullest extent permitted
by law, any attempted transfer of the Common Securities, other than as set forth
in the immediately preceding sentence, shall be void. The Administrators shall
cause each Common Securities Certificate issued to the Depositor to contain a
legend stating "THIS CERTIFICATE IS NOT TRANSFERABLE EXCEPT TO THE DEPOSITOR OR
AN AFFILIATE OF THE DEPOSITOR IN COMPLIANCE WITH APPLICABLE LAW AND SECTION 5.11
OF THE TRUST AGREEMENT."

         SECTION 5.12. Notices to Clearing Agency.

         To the extent that a notice or other communication to the Holders is
required under this Trust Agreement, for so long as Capital Securities are
represented by a Global Capital Securities Certificate, the Administrators and
the Issuer Trustees shall give all such notices and communications specified
herein to be given to the Clearing Agency, and shall have no obligations to the
Owners.

         SECTION 5.13. Rights of Holders.

         (a) The legal title to the Trust Property is vested exclusively in the
Property Trustee (in its capacity as such) in accordance with Section 2.9, and
the Holders shall not have any right or title therein other than the undivided
beneficial interest in the assets of the Issuer Trust conferred by their Trust
Securities and they shall have no right to call for any partition or division of
property, profits or rights of the Issuer Trust except as described below. The
Trust Securities shall be personal property giving only the rights specifically
set forth therein and in this Trust Agreement. The Trust Securities shall have
no preemptive or similar rights and when issued and delivered to Holders against
payment of the purchase price therefor, as provided herein, will be fully paid
and nonassessable by the Issuer Trust. Except as otherwise provided in Section
4.8, the Holders of the Trust Securities, in their capacities as such, shall be
entitled to the

                                       27

<PAGE>

same limitation of personal liability extended to stockholders of private
corporations for profit organized under the General Corporation Law of the State
of Delaware.

         (b) For so long as any Capital Securities remain Outstanding, if, upon
a Debenture Event of Default, the Debt Securities Trustee fails or the holders
of not less than 25% in principal amount of the outstanding Junior Subordinated
Debentures fail to declare the principal of all of the Junior Subordinated
Debentures to be immediately due and payable, the Holders of at least 25% in
Liquidation Amount of the Capital Securities then Outstanding shall have such
right to make such declaration by a notice in writing to the Property Trustee,
the Depositor and the Debt Securities Trustee.

         At any time after such a declaration of acceleration with respect to
the Junior Subordinated Debentures has been made and before a judgment or decree
for payment of the money due has been obtained by the Debt Securities Trustee as
provided in the Indenture, the Holders of a Majority in Liquidation Amount of
the Capital Securities, by written notice to the Property Trustee, the Depositor
and the Debt Securities Trustee, may rescind and annul such declaration and its
consequences if:

             (i)  the Depositor has paid or deposited with the Debt Securities
         Trustee a sum sufficient to pay

                  (A) all overdue installments of interest on all of the Junior
             Subordinated Debentures,

                  (B) any accrued Additional Interest on all of the Junior
             Subordinated Debentures,

                  (C) the principal of (and premium, if any, on) any Junior
             Subordinated Debentures which have become due otherwise than by
             such declaration of acceleration and interest and Additional
             Interest thereon at the rate borne by the Junior Subordinated
             Debentures, and

                  (D) all sums paid or advanced by the Debt Securities Trustee
             under the Indenture and the reasonable compensation, expenses,
             disbursements and advances of the Debt Securities Trustee and the
             Property Trustee, their agents and counsel; and

             (ii) all Events of Default with respect to the Junior Subordinated
         Debentures, other than the non-payment of the principal of the Junior
         Subordinated Debentures which has become due solely by such
         acceleration, have been cured or waived as provided in Section 5.13 of
         the Indenture.

         If the Property Trustee fails to annul any such declaration and waive
such default, the Holders of at least a Majority in Liquidation Amount of the
Capital Securities shall also have the right to rescind and annul such
declaration and its consequences by written notice to the Depositor, the
Property Trustee and the Debt Securities Trustee, subject to the satisfaction of
the conditions set forth in Clause (i) and (ii) of this Section 5.13(b).

                                       28

<PAGE>

         The Holders of at least a Majority in Liquidation Amount of the Capital
Securities may, on behalf of the Holders of all the Capital Securities, waive
any past default under the Indenture, except a default in the payment of
principal or interest (unless such default has been cured and a sum sufficient
to pay all matured installments of interest and principal due otherwise than by
acceleration has been deposited with the Debt Securities Trustee) or a default
in respect of a covenant or provision which under the Indenture cannot be
modified or amended without the consent of the holder of each outstanding Junior
Subordinated Debentures. No such rescission shall affect any subsequent default
or impair any right consequent thereon.

         Upon receipt by the Property Trustee of written notice declaring such
an acceleration, or rescission and annulment thereof, by Holders of the Capital
Securities all or part of which is represented by Global Capital Securities, a
record date shall be established for determining Holders of Outstanding Capital
Securities entitled to join in such notice, which record date shall be at the
close of business on the day the Property Trustee receives such notice. The
Holders on such record date, or their duly designated proxies, and only such
Persons, shall be entitled to join in such notice, whether or not such Holders
remain Holders after such record date; provided, that, unless such declaration
of acceleration, or rescission and annulment, as the case may be, shall have
become effective by virtue of the requisite percentage having joined in such
notice prior to the day which is 90 days after such record date, such notice of
declaration of acceleration, or rescission and annulment, as the case may be,
shall automatically and without further action by any Holder be canceled and of
no further effect. Nothing in this paragraph shall prevent a Holder, or a proxy
of a Holder, from giving, after expiration of such 90-day period, a new written
notice of declaration of acceleration, or rescission and annulment thereof, as
the case may be, that is identical to a written notice which has been canceled
pursuant to the proviso to the preceding sentence, in which event a new record
date shall be established pursuant to the provisions of this Section 5.13(b).

         (c) For so long as any Capital Securities remain Outstanding, to the
fullest extent permitted by law and subject to the terms of this Trust Agreement
and the Indenture, upon a Debenture Event of Default specified in Section
5.01(a) or 5.01(b) of the Indenture, any Holder of Capital Securities shall have
the right to institute a proceeding directly against the Depositor, pursuant to
Section 5.01 of the Indenture, for enforcement of payment to such Holder of the
principal amount of or interest on Junior Subordinated Debentures having an
aggregate principal amount equal to the aggregate Liquidation Amount of the
Capital Securities of such Holder (a "Direct Action"). Except as set forth in
Sections 5.13(b) and 5.13(c), the Holders of Capital Securities shall have no
right to exercise directly any right or remedy available to the holders of, or
in respect of, the Junior Subordinated Debentures.

                                   ARTICLE VI

                        ACTS OF HOLDERS; MEETINGS; VOTING

         SECTION 6.1. Limitations on Holder's Voting Rights.

         (a) Except as provided in this Trust Agreement and in the Indenture and
as otherwise required by law, no Holder of Capital Securities shall have any
right to vote or in any manner otherwise control the administration, operation
and management of the Issuer Trust or the

                                       29

<PAGE>

obligations of the parties hereto, nor shall anything herein set forth or
contained in the terms of the Trust Securities Certificates be construed so as
to constitute the Holders from time to time as members of an association.

         (b) So long as any Junior Subordinated Debentures are held by the
Property Trustee on behalf of the Issuer Trust, the Property Trustee shall not
(i) direct the time, method and place of conducting any proceeding for any
remedy available to the Debt Securities Trustee, or executing any trust or power
conferred on the Property Trustee with respect to such Junior Subordinated
Debentures, (ii) waive any past default that may be waived under Section 5.10 of
the Indenture, (iii) exercise any right to rescind or annul a declaration that
the principal of all the Junior Subordinated Debentures shall be due and payable
or (iv) consent to any amendment, modification or termination of the Indenture
or the Junior Subordinated Debentures, where such consent shall be required,
without, in each case, obtaining the prior approval of the Holders of at least a
Majority in Liquidation Amount of the Capital Securities, provided, however,
that where a consent under the Indenture would require the consent of each
Holder of Junior Subordinated Debentures affected thereby, no such consent shall
be given by the Property Trustee without the prior written consent of each
Holder of Capital Securities. The Property Trustee shall not revoke any action
previously authorized or approved by a vote of the Holders of Capital
Securities, except by a subsequent vote of the Holders of Capital Securities.
The Property Trustee shall notify all Holders of the Capital Securities of any
notice of default received with respect to the Junior Subordinated Debentures.
In addition to obtaining the foregoing approvals of the Holders of the Capital
Securities, prior to taking any of the foregoing actions, the Property Trustee
shall, at the expense of the Depositor, obtain an Opinion of Counsel experienced
in such matters to the effect that such action will not cause the Issuer Trust
to be taxable as a corporation for United States Federal income tax purposes.

         (c) If any proposed amendment to the Trust Agreement provides for, or
the Issuer Trust otherwise proposes to effect, (i) any action that would
adversely affect in any material respect the interests, powers, preferences or
special rights of the Capital Securities, whether by way of amendment to the
Trust Agreement or otherwise, or (ii) the dissolution, winding-up or termination
of the Issuer Trust, other than pursuant to the terms of this Trust Agreement,
then the Holders of Outstanding Capital Securities as a class will be entitled
to vote on such amendment or proposal and such amendment or proposal shall not
be effective except with the approval of the Holders of at least a Majority in
Liquidation Amount of the Capital Securities.

         SECTION 6.2. Notice of Meetings.

         Notice of all meetings of the Holders, stating the time, place and
purpose of the meeting, shall be given by the Property Trustee pursuant to
Section 10.8 to each Holder of record, at his registered address, at least 15
days and not more than 90 days before the meeting. At any such meeting, any
business properly before the meeting may be so considered whether or not stated
in the notice of the meeting. Any adjourned meeting may be held as adjourned
without further notice.

                                       30

<PAGE>

         SECTION 6.3. Meetings of Holders.

         No annual meeting of Holders is required to be held. The Property
Trustee, however, shall call a meeting of Holders to vote on any matter upon the
written request of the Holders of record of 25% of the aggregate Liquidation
Amount of the Capital Securities and the Administrators or the Property Trustee
may, at any time in their discretion, call a meeting of Holders of Capital
Securities to vote on any matters as to which Holders are entitled to vote.

         Holders of at least a Majority in Liquidation Amount of the Capital
Securities, present in person or represented by proxy, shall constitute a quorum
at any meeting of Holders of the Capital Securities.

         If a quorum is present at a meeting, an affirmative vote by the Holders
of record present, in person or by proxy, holding Capital Securities
representing at least a Majority in Liquidation Amount of the Capital Securities
held by the Holders present, either in person or by proxy, at such meeting shall
constitute the action of the Holders of Capital Securities, unless this Trust
Agreement requires a greater number of affirmative votes.

         SECTION 6.4. Voting Rights.

         Holders shall be entitled to one vote for each $25 of Liquidation
Amount represented by their Outstanding Trust Securities in respect of any
matter as to which such Holders are entitled to vote.

         SECTION 6.5. Proxies, etc.

         At any meeting of Holders, any Holder entitled to vote thereat may vote
by proxy, provided that no proxy shall be voted at any meeting unless it shall
have been placed on file with the Property Trustee, or with such other officer
or agent of the Issuer Trust as the Property Trustee may direct, for
verification prior to the time at which such vote shall be taken. Pursuant to a
resolution of the Property Trustee, proxies may be solicited in the name of the
Property Trustee or one or more officers of the Property Trustee. Only Holders
of record shall be entitled to vote. When Trust Securities are held jointly by
several Persons, any one of them may vote at any meeting in person or by proxy
in respect of such Trust Securities, but if more than one of them shall be
present at such meeting in person or by proxy, and such joint owners or their
proxies so present disagree as to any vote to be cast, such vote shall not be
received in respect of such Trust Securities. A proxy purporting to be executed
by or on behalf of a Holder shall be deemed valid unless challenged at or prior
to its exercise, and the burden of proving invalidity shall rest on the
challenger. No proxy shall be valid more than three years after its date of
execution.

         SECTION 6.6. Holder Action by Written Consent.

         Any action which may be taken by Holders at a meeting may be taken
without a meeting if Holders holding at least a Majority in Liquidation Amount
of all Trust Securities entitled to vote in respect of such action (or such
larger proportion thereof as shall be required by any other provision of this
Trust Agreement) shall consent to the action in writing.

                                       31

<PAGE>

         SECTION 6.7. Record Date for Voting and Other Purposes.

         For the purposes of determining the Holders who are entitled to notice
of and to vote at any meeting or by written consent, or to participate in any
distribution on the Trust Securities in respect of which a record date is not
otherwise provided for in this Trust Agreement, or for the purpose of any other
action, the Administrators or Property Trustee may from time to time fix a date,
not more than 90 days prior to the date of any meeting of Holders or the payment
of a distribution or other action, as the case may be, as a record date for the
determination of the identity of the Holders of record for such purposes.

         SECTION 6.8. Acts of Holders.

         Any request, demand, authorization, direction, notice, consent, waiver
or other action provided or permitted by this Trust Agreement 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 an agent
duly appointed in writing; and, except as otherwise expressly provided herein,
such action shall become effective when such instrument or instruments are
delivered to the Property Trustee. 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 Trust Agreement and (subject to Section
8.1) conclusive in favor of the Issuer Trustees, 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 the 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 any Issuer Trustee or Administrator receiving the same deems
sufficient.

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

         Any request, demand, authorization, direction, notice, consent, waiver
or other Act of the Holder of any Trust Security shall bind every future Holder
of the same Trust Security and the Holder of every Trust 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 Issuer
Trustees, the Administrators or the Issuer Trust in reliance thereon, whether or
not notation of such action is made upon such Trust Security.

         Without limiting the foregoing, a Holder entitled hereunder to take any
action hereunder with regard to any particular Trust Security may do so with
regard to all or any part of the Liquidation Amount of such Trust Security or by
one or more duly appointed agents each of

                                       32

<PAGE>

which may do so pursuant to such appointment with regard to all or any part of
such Liquidation Amount.

         If any dispute shall arise among the Holders, the Administrators or the
Issuer Trustees with respect to the authenticity, validity or binding nature of
any request, demand, authorization, direction, consent, waiver or other Act of
such Holder or Issuer Trustee under this Article VI, then the determination of
such matter by the Property Trustee shall be conclusive with respect to such
matter.

         SECTION 6.9. Inspection of Records.

         Upon reasonable notice to the Administrators and the Property Trustee,
the records of the Issuer Trust shall be open to inspection by Holders during
normal business hours for any purpose reasonably related to such Holder's
interest as a Holder.

                                  ARTICLE VII

                         REPRESENTATIONS AND WARRANTIES

         SECTION 7.1. Representations and Warranties of the Property Trustee and
the Delaware Trustee.

         The Property Trustee and the Delaware Trustee, each severally on behalf
of and as to itself, hereby represents and warrants for the benefit of the
Depositor and the Holders that:

         (a) The Property Trustee is a banking corporation with trust powers,
duly organized, validly existing and in good standing under the laws of New
York, with trust power and authority to execute and deliver, and to carry out
and perform its obligations under the terms of this Trust Agreement.

         (b) The execution, delivery and performance by the Property Trustee of
this Trust Agreement have been duly authorized by all necessary corporate action
on the part of the Property Trustee; and this Trust Agreement has been duly
executed and delivered by the Property Trustee, and constitutes a legal, valid
and binding obligation of the Property Trustee, enforceable against it in
accordance with its terms, subject to applicable bankruptcy, reorganization,
moratorium, insolvency, and other similar laws affecting creditors' rights
generally and to general principles of equity and the discretion of the court
(regardless of whether the enforcement of such remedies is considered in a
proceeding in equity or at law).

         (c) The Delaware Trustee is duly organized, validly existing and in
good standing as a banking corporation under the laws of the State of Delaware,
with trust power and authority to execute and deliver, and to carry out and
perform its obligations under the terms of, the Trust Agreement.

         (d) The execution, delivery and performance by the Delaware Trustee of
this Trust Agreement have been duly authorized by all necessary corporate action
on the part of the Delaware Trustee; and this Trust Agreement has been duly
executed and delivered by the Delaware Trustee, and constitutes a legal, valid
and binding obligation of the Delaware Trustee,

                                       33

<PAGE>

enforceable against it in accordance with its terms, subject to applicable
bankruptcy, reorganization, moratorium, insolvency, and other similar laws
affecting creditors' right generally and to general principles of equity and the
discretion of the court (regardless of whether the enforcement of such remedies
is considered in a proceeding in equity or at law).

         (e) The Delaware Trustee is an entity which has its principal place of
business in the State of Delaware.

         (f) The Property Trustee is a national- or state-chartered bank and has
capital and surplus of at least $50,000,000.

         SECTION 7.2. Representations and Warranties of Depositor.

         The Depositor hereby represents and warrants for the benefit of the
Holders that:

         (a) the Trust Securities Certificates issued at the Closing Date on
behalf of the Issuer Trust have been duly authorized and will have been duly and
validly executed, issued and delivered by the Issuer Trustees pursuant to the
terms and provisions of, and in accordance with the requirements of, this Trust
Agreement, and the Holders will be, as of each such date, entitled to the
benefits of this Trust Agreement; and

         (b) there are no taxes, fees or other governmental charges payable by
the Issuer Trust (or the Issuer Trustees on behalf of the Issuer Trust) under
the laws of the State of Delaware or any political subdivision thereof in
connection with the execution, delivery and performance by either the Property
Trustee or the Delaware Trustee, as the case may be, of this Trust Agreement.

                                  ARTICLE VIII

                     THE ISSUER TRUSTEES; THE ADMINISTRATORS

         SECTION 8.1. Certain Duties and Responsibilities.

         (a) The duties and responsibilities of the Issuer Trustees and the
Administrators shall be as provided by this Trust Agreement and, in the case of
the Property Trustee, by the Trust Indenture Act. Notwithstanding the foregoing,
no provision of this Trust Agreement shall require the Issuer Trustees or the
Administrators to expend or risk their own funds or otherwise incur any
financial liability in the performance of any of their duties hereunder, or in
the exercise of any of their rights or powers, if they 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 Trust Agreement relating to the
conduct or affecting the liability of or affording protection to the Issuer
Trustees or the Administrators shall be subject to the provisions of this
Section. Nothing in this Trust Agreement shall be construed to release an
Administrator from liability for its own grossly negligent action, its own
grossly negligent failure to act, or its own willful misconduct. To the extent
that, at law or in equity, an Issuer Trustee or Administrator has duties and
liabilities relating to the Issuer Trust or to the Holders, such Issuer Trustee
or Administrator shall not be liable to the Issuer Trust or to any Holder for
such Issuer Trustee's or Administrator's good faith reliance on the provisions
of this Trust Agreement. The provisions of this Trust Agreement, to the extent
that

                                       34

<PAGE>

they restrict the duties and liabilities of the Issuer Trustees and
Administrators otherwise existing at law or in equity, are agreed by the
Depositor and the Holders to replace such other duties and liabilities of the
Issuer Trustees and Administrators.

         (b) All payments made by the Property Trustee or a Paying Agent in
respect of the Trust Securities shall be made only from the revenue and proceeds
from the Trust Property and only to the extent that there shall be sufficient
revenue or proceeds from the Trust Property to enable the Property Trustee or a
Paying Agent to make payments in accordance with the terms hereof. Each Holder,
by its acceptance of a Trust Security, agrees that it will look solely to the
revenue and proceeds from the Trust Property to the extent legally available for
distribution to it as herein provided and that neither the Issuer Trustees nor
the Administrators are personally liable to it for any amount distributable in
respect of any Trust Security or for any other liability in respect of any Trust
Security. This Section 8.1(b) does not limit the liability of the Issuer
Trustees expressly set forth elsewhere in this Trust Agreement or, in the case
of the Property Trustee, in the Trust Indenture Act.

         (c) The Property Trustee, before the occurrence of any Event of Default
and after the curing of all Events of Default that may have occurred, shall
undertake to perform only such duties as are specifically set forth in this
Trust Agreement (including pursuant to Section 10.10), and no implied covenants
shall be read into this Trust Agreement against the Property Trustee. If an
Event of Default has occurred (that has not been cured or waived pursuant to
Article V of the Indenture), the Property Trustee shall enforce this Trust
Agreement for the benefit of the Holders and shall exercise such of the rights
and powers vested in it by this Trust Agreement, and use the same degree of care
and skill in its exercise thereof, as a prudent person would exercise or use
under the circumstances in the conduct of his or her own affairs.

         (d) No provision of this Trust Agreement shall be construed to relieve
the Property Trustee from liability for its own negligent action, its own
negligent failure to act, or its own willful misconduct, except that:

             (i) prior to the occurrence of any Event of Default and after the
         curing or waiving of all such Events of Default that may have occurred:

                 (A) the duties and obligations of the Property Trustee shall be
             determined solely by the express provisions of this Trust Agreement
             (including pursuant to Section 10.10), and the Property Trustee
             shall not be liable except for the performance of such duties and
             obligations as are specifically set forth in this Trust Agreement
             (including pursuant to Section 10.10); and

                 (B) in the absence of bad faith on the part of the Property
             Trustee, the Property Trustee may conclusively rely, as to the
             truth of the statements and the correctness of the opinions
             expressed therein, upon any certificates or opinions furnished to
             the Property Trustee and conforming to the requirements of this
             Trust Agreement; but in the case of any such certificates or
             opinions that by any provision hereof or of the Trust Indenture Act
             are specifically required to be furnished to the Property Trustee,
             the Property Trustee shall be under a duty to

                                       35

<PAGE>

             examine the same to determine whether or not they conform to the
             requirements of this Trust Agreement;

             (ii) the Property Trustee shall not be liable for any error of
         judgment made in good faith by an authorized officer of the Property
         Trustee, unless it shall be proved that the Property Trustee was
         negligent in ascertaining the pertinent facts;

             (iii) the Property Trustee shall not be liable with respect to any
         action taken or omitted to be taken by it in good faith in accordance
         with the direction of the Holders of at least a Majority in Liquidation
         Amount of the Capital Securities relating to the time, method and place
         of conducting any proceeding for any remedy available to the Property
         Trustee, or exercising any trust or power conferred upon the Property
         Trustee under this Trust Agreement;

             (iv) the Property Trustee's sole duty with respect to the custody,
         safe keeping and physical preservation of the Junior Subordinated
         Debentures and the Payment Account shall be to deal with such property
         in a similar manner as the Property Trustee deals with similar property
         for its own account, subject to the protections and limitations on
         liability afforded to the Property Trustee under this Trust Agreement
         and the Trust Indenture Act;

             (v) the Property Trustee shall not be liable for any interest on
         any money received by it except as it may otherwise agree with the
         Depositor; and money held by the Property Trustee need not be
         segregated from other funds held by it except in relation to the
         Payment Account maintained by the Property Trustee pursuant to Section
         3.1 and except to the extent otherwise required by law;

             (vi) the Property Trustee shall not be responsible for monitoring
         the compliance by the Administrators or the Depositor with their
         respective duties under this Trust Agreement, nor shall the Property
         Trustee be liable for the default or misconduct of any other Issuer
         Trustee, the Administrators or the Depositor; and

             (vii) no provision of this Trust Agreement shall require the
         Property Trustee to expend or risk its own funds or otherwise incur
         personal financial liability in the performance of any of its duties or
         in the exercise of any of its rights or powers, if the Property Trustee
         shall have reasonable grounds for believing that the repayment of such
         funds or liability is not reasonably assured to it under the terms of
         this Trust Agreement or adequate indemnity against such risk or
         liability is not reasonably assured to it.

         (e) The Administrators shall not be responsible for monitoring the
compliance by the Issuer Trustees or the Depositor with their respective duties
under this Trust Agreement, nor shall either Administrator be liable for the
default or misconduct of any other Administrator, the Issuer Trustees or the
Depositor.

         SECTION 8.2. Certain Notices.

         Within ten Business Days after the occurrence of any Event of Default
actually known to a Responsible Officer of the Property Trustee, the Property
Trustee shall transmit, in the manner

                                       36

<PAGE>

and to the extent provided in Section 10.8, notice of such Event of Default to
the Holders and the Administrators, unless such Event of Default shall have been
cured or waived.

         Within ten Business Days after the receipt of notice of the Depositor's
exercise of its right to defer the payment of interest on the Junior
Subordinated Debentures pursuant to the Indenture, the Property Trustee shall
transmit, in the manner and to the extent provided in Section 10.8, notice of
such exercise to the Holders and the Administrators, unless such exercise shall
have been revoked.

         SECTION 8.3. Certain Rights of Property Trustee.

         Subject to the provisions of Section 8.1:

         (a) the Property Trustee may conclusively rely and shall be fully
protected in acting or refraining from acting in good faith upon any resolution,
Opinion of Counsel, certificate, written representation of a Holder or
transferee, certificate of auditors or any other certificate, statement,
instrument, opinion, report, notice, request, consent, order, appraisal, 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;

         (b) any direction or act of the Depositor contemplated by this Trust
Agreement shall be sufficiently evidenced by an Officer's Certificate;

         (c) the Property Trustee shall have no duty to see to any recording,
filing or registration of any instrument (including any financing or
continuation statement or any filing under tax or securities laws) or any
re-recording, refiling or registration thereof;

         (d) the Property Trustee may consult with counsel of its own choosing
(which counsel may be counsel to the Depositor or any of its Affiliates, and may
include any of its employees) and the advice of such 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 and in
accordance with such advice; the Property Trustee shall have the right at any
time to seek instructions concerning the administration of this Trust Agreement
from any court of competent jurisdiction;

         (e) the Property Trustee shall be under no obligation to exercise any
of the rights or powers vested in it by this Trust Agreement at the request or
direction of any of the Holders pursuant to this Trust Agreement, unless such
Holders shall have offered to the Property Trustee 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; provided, that
nothing contained in this Section 8.3(e) shall be taken to relieve the Property
Trustee, upon the occurrence of an Event of Default, of its obligation to
exercise the rights and powers vested in it by this Trust Agreement;

         (f) the Property Trustee shall not be bound to make any investigation
into the facts or matters stated in any resolution, certificate, statement,
instrument, opinion, report, notice, request, consent, order, approval, bond,
debenture, note or other evidence of indebtedness or other paper or document,
unless requested in writing to do so by one or more Holders, but the

                                       37

<PAGE>

Property Trustee may make such further inquiry or investigation into such facts
or matters as it may see fit;

         (g) the Property Trustee may execute any of the trusts or powers
hereunder or perform any of its duties hereunder either directly or by or
through its agents or attorneys, provided that the Property Trustee shall not be
responsible for any misconduct or negligence on the part of any agent or
attorney appointed with due care by it hereunder;

         (h) whenever in the administration of this Trust Agreement the Property
Trustee shall deem it desirable to receive instructions with respect to
enforcing any remedy or right or taking any other action hereunder, the Property
Trustee (i) may request instructions from the Holders (which instructions may
only be given by the Holders of the same proportion in Liquidation Amount of the
Trust Securities as would be entitled to direct the Property Trustee under the
terms of the Trust Securities in respect of such remedy, right or action), (ii)
may refrain from enforcing such remedy or right or taking such other action
until such instructions are received, and (iii) shall be fully protected in
acting in accordance with such instructions;

         (i) except as otherwise expressly provided by this Trust Agreement, the
Property Trustee shall not be under any obligation to take any action that is
discretionary under the provisions of this Trust Agreement. No provision of this
Trust Agreement shall be deemed to impose any duty or obligation on any Issuer
Trustee or Administrator to perform any act or acts or exercise any right,
power, duty or obligation conferred or imposed on it, in any jurisdiction in
which it shall be illegal, or in which the Property Trustee shall be unqualified
or incompetent in accordance with applicable law, to perform any such act or
acts, or to exercise any such right, power, duty or obligation. No permissive
power or authority available to any Issuer Trustee or Administrator shall be
construed to be a duty;

         (j) if (i) in performing its duties under this Trust Agreement the
Property Trustee is required to decide between alternative courses of action or
(ii) in construing any of the provisions of this Trust Agreement the Property
Trustee finds the same ambiguous or inconsistent with any other provisions
contained herein or (iii) the Property Trustee is unsure of the application of
any provision of this Trust Agreement, then, except as to any matter as to which
the Holders are entitled to vote under the terms of this Trust Agreement, the
Property Trustee shall deliver a notice to the Depositor requesting written
instructions of the Depositor as to the course of action to be taken and the
Property Trustee shall take such action, or refrain from taking such action, as
the Property Trustee shall be instructed in writing to take, or to refrain from
taking, by the Depositor; provided, however, that if the Property Trustee does
not receive such instructions of the Depositor within ten Business Days after it
has delivered such notice, or such reasonably shorter period of time set forth
in such notice (which to the extent practicable shall not be less than two
Business Days), it may, but shall be under no duty to, take or refrain from
taking such action not inconsistent with this Trust Agreement as it shall deem
advisable and in the best interests of the Holders, in which event the Property
Trustee shall have no liability except for its own bad faith, negligence or
willful misconduct;

         (k) whenever in the administration of this Trust Agreement, the
Property Trustee shall deem it desirable that a matter be established before
undertaking, suffering or omitting any action hereunder, the Property Trustee
(unless other evidence is herein specifically prescribed)

                                       38

<PAGE>

may, in the absence of bad faith on its part, request and conclusively rely upon
an Officer's Certificate which, upon receipt of such request, shall be promptly
delivered by the Depositor or the Administrator;

         (l) when the Property Trustee incurs expenses or renders services in
connection with a Bankruptcy Event, such expenses (including the fees and
expenses of its counsel) and the compensation for such services are intended to
constitute expenses of administration under any bankruptcy law or law relating
to creditors' rights generally; and

         (m) the Property Trustee shall not be charged with knowledge of an
Event of Default unless such Event of Default has occurred as a result of the
act or failure to act of the Property Trustee, a Responsible Officer of the
Property Trustee obtains actual knowledge of such event or the Property Trustee
receives written notice of such event from Holders of at least 25% of the
Outstanding Trust Securities (based upon Liquidation Amount).

         SECTION 8.4. Not Responsible for Recitals or Issuance of Securities.

         The recitals contained herein and in the Trust Securities Certificates
shall be taken as the statements of the Issuer Trust, and the Issuer Trustees
and the Administrators do not assume any responsibility for their correctness.
The Issuer Trustees and the Administrators shall not be accountable for the use
or application by the Depositor of the proceeds of the Junior Subordinated
Debentures.

         SECTION 8.5. May Hold Securities.

         The Administrators, any Issuer Trustee or any other agent of any Issuer
Trustee or the Issuer Trust, in its individual or any other capacity, may become
the owner or pledgee of Trust Securities and, subject to Sections 8.8 and 8.13,
and except as provided in the definition of the term "Outstanding" in Article I,
may otherwise deal with the Issuer Trust with the same rights it would have if
it were not an Administrator, Issuer Trustee or such other agent.

         SECTION 8.6. Compensation; Indemnity; Fees.

         The Depositor, as borrower, agrees:

         (a) to pay to the Issuer Trustees from time to time such reasonable
compensation for all services rendered by them hereunder as the parties shall
agree from time to time (which compensation shall not be limited by any
provision of law in regard to the compensation of a trustee of an express
trust);

         (b) to reimburse the Issuer Trustees upon request for all reasonable
expenses, disbursements and advances incurred or made by the Issuer Trustees in
accordance with any provision of this Trust Agreement (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 their
negligence or willful misconduct; and

         (c) to the fullest extent permitted by applicable law, to indemnify and
hold harmless (i) each Issuer Trustee, (ii) each Administrator, (iii) any
Affiliate of any Issuer Trustee, (iv) any

                                       39

<PAGE>

officer, director, shareholder, employee, representative or agent of any Issuer
Trustee, and (v) any employee or agent of the Issuer Trust (referred to herein
as an "Indemnified Person") from and against any loss, damage, liability, tax,
penalty, expense or claim of any kind or nature whatsoever incurred by such
Indemnified Person arising out of or in connection with the creation, operation
or dissolution of the Issuer Trust or any act or omission performed or omitted
by such Indemnified Person in good faith on behalf of the Issuer Trust and in a
manner such Indemnified Person reasonably believed to be within the scope of
authority conferred on such Indemnified Person by this Trust Agreement, except
that no Indemnified Person (other than an Administrator) shall be entitled to be
indemnified in respect of any loss, damage or claim incurred by such Indemnified
Person by reason of negligence or willful misconduct with respect to such acts
or omissions, and further provided that no Administrator shall be entitled to be
indemnified in respect of any loss, damage or claim incurred by such
Administrator by reason of gross negligence or willful misconduct with respect
to such acts or omissions.

         The provisions of this Section 8.6 shall survive the termination of
this Trust Agreement or the earlier resignation or removal of any Issuer
Trustee.

         No Issuer Trustee may claim any lien or charge on any Trust Property as
a result of any amount due pursuant to this Section 8.6.

         The Depositor, any Administrator and any Issuer Trustee (subject to
Section 8.8) may engage in or possess an interest in other business ventures of
any nature or description, independently or with others, similar or dissimilar
to the business of the Issuer Trust, and the Issuer Trust and the Holders of
Trust Securities shall have no rights by virtue of this Trust Agreement in and
to such independent ventures or the income or profits derived therefrom, and the
pursuit of any such venture, even if competitive with the business of the Issuer
Trust, shall not be deemed wrongful or improper. Neither the Depositor, any
Administrator, nor any Issuer Trustee shall be obligated to present any
particular investment or other opportunity to the Issuer Trust even if such
opportunity is of a character that, if presented to the Issuer Trust, could be
taken by the Issuer Trust, and the Depositor, any Administrator or any Issuer
Trustee shall have the right to take for its own account (individually or as a
partner or fiduciary) or to recommend to others any such particular investment
or other opportunity. Any Issuer Trustee may engage or be interested in any
financial or other transaction with the Depositor or any Affiliate of the
Depositor, or may act as depository for, trustee or agent for, or act on any
committee or body of holders of, securities or other obligations of the
Depositor or its Affiliates.

         In the event that the Property Trustee is also acting as Paying Agent
or Securities Registrar hereunder, the rights and protections afforded to the
Property Trustee pursuant to this Article VIII shall also be afforded to such
Paying Agent or Securities Registrar.

         SECTION 8.7. Corporate Property Trustee Required; Eligibility of
Trustees and Administrators.

         (a) There shall at all times be a Property Trustee hereunder with
respect to the Trust Securities. The Property Trustee shall be a Person that is
a national- or state-chartered bank and eligible pursuant to the Trust Indenture
Act to act as such and has a combined capital and surplus of at least
$50,000,000. If any such Person publishes reports of condition at least
annually,

                                       40

<PAGE>

pursuant to law or to the requirements of its supervising or examining
authority, then for the purposes of this Section, the combined capital and
surplus of such Person shall be deemed to be its combined capital and surplus as
set forth in its most recent report of condition so published. If at any time
the Property Trustee with respect to the Trust Securities 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.

         (b) There shall at all times be one or more Administrators hereunder.
Each Administrator shall be either a natural person who is at least 21 years of
age or a legal entity that shall act through one or more persons authorized to
bind that entity. An employee, officer or Affiliate of the Depositor may serve
as an Administrator.

         (c) There shall at all times be a Delaware Trustee. The Delaware
Trustee shall either be (i) a natural person who is at least 21 years of age and
a resident of the State of Delaware or (ii) a legal entity with its principal
place of business in the State of Delaware and that otherwise meets the
requirements of applicable Delaware law that shall act through one or more
persons authorized to bind such entity.

         SECTION 8.8. Conflicting Interests.

         (a) If the Property Trustee has or shall acquire a conflicting interest
within the meaning of the Trust Indenture Act, the Property 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 Trust
Agreement.

         (b) The Guarantee Agreement and the Indenture shall be deemed to be
sufficiently described in this Trust Agreement for the purposes of clause (i) of
the first proviso contained in Section 310(b) of the Trust Indenture Act.

         SECTION 8.9. Co-Trustees and Separate Trustee.

         Unless an Event of Default shall have occurred and be continuing, at
anytime or times, for the purpose of meeting the legal requirements of the Trust
Indenture Act or of any jurisdiction in which any part of the Trust Property may
at the time be located, the Property Trustee shall have power to appoint, and
upon the written request of the Property Trustee, the Depositor and the
Administrators shall for such purpose join with the Property Trustee in the
execution, delivery, and performance of all instruments and agreements necessary
or proper to appoint, one or more Persons approved by the Property Trustee
either to act as co-trustee, jointly with the Property Trustee, of all or any
part of such Trust Property, or to the extent required by law to act as separate
trustee of any such property, in either case with such powers as may be provided
in the instrument of appointment, and to vest in such Person or Persons in the
capacity aforesaid, any property, title, right or power deemed necessary or
desirable, subject to the other provisions of this Section. Any co-trustee or
separate trustee appointed pursuant to this Section shall either be (i) a
natural person who is at least 21 years of age and a resident of the United
States or (ii) a legal entity with its principal place of business in the United
States that shall act through one or more persons authorized to bind such
entity.

                                       41

<PAGE>

         Should any written instrument from the Depositor be required by any
co-trustee or separate trustee so appointed for more fully confirming to such
co-trustee or separate trustee such property, title, right, or power, any and
all such instruments shall, on request, be executed, acknowledged and delivered
by the Depositor.

         Every co-trustee or separate trustee shall, to the extent permitted by
law, but to such extent only, be appointed subject to the following terms,
namely:

         (a) The Trust Securities shall be executed by one or more
Administrators, and the Capital Securities shall be authenticated by the manual
signature of the Property Trustee and delivered and all rights, powers, duties,
and obligations hereunder in respect of the custody of securities, cash and
other personal property held by, or required to be deposited or pledged with,
the Property Trustees specified hereunder, shall be exercised, solely by the
Property Trustee and not by such co-trustee or separate trustee.

         (b) The rights, powers, duties, and obligations hereby conferred or
imposed upon the Property Trustee in respect of any property covered by such
appointment shall be conferred or imposed upon and exercised or performed by the
Property Trustee and such co-trustee or separate trustee jointly, as shall be
provided in the instrument appointing such co-trustee or separate trustee,
except to the extent that under any law of any jurisdiction in which any
particular act is to be performed, the Property Trustee shall be incompetent or
unqualified to perform such act, in which event such rights, powers, duties and
obligations shall be exercised and performed by such co-trustee or separate
trustee.

         (c) The Property Trustee at any time, by an instrument in writing
executed by it, with the written concurrence of the Depositor, may accept the
resignation of or remove any co-trustee or separate trustee appointed under this
Section, and, in case a Debenture Event of Default has occurred and is
continuing, the Property Trustee shall have power to accept the resignation of,
or remove, any such co-trustee or separate trustee without the concurrence of
the Depositor. Upon the written request of the Property Trustee, the Depositor
shall join with the Property Trustee in the execution, delivery and performance
of all instruments and agreements necessary or proper to effectuate such
resignation or removal. A successor to any co-trustee or separate trustee so
resigned or removed may be appointed in the manner provided in this Section.

         (d) No co-trustee or separate trustee hereunder shall be personally
liable by reason of any act or omission of the Property Trustee or any other
trustee hereunder.

         (e) The Property Trustee shall not be liable by reason of any act of a
co-trustee or separate trustee or any employees or agents of a co-trustee and
separate trustee nor shall it be liable for the supervision of a co-trustee or
separate trustee or employees or agents of a co-trustee and separate trustee.

         (f) Any Act of Holders delivered to the Property Trustee shall be
deemed to have been delivered to each such co-trustee and separate trustee.

                                       42

<PAGE>

         SECTION 8.10. Resignation and Removal; Appointment of Successor.

         No resignation or removal of any Issuer Trustee (the "Relevant
Trustee") and no appointment of a successor Issuer Trustee pursuant to this
Article shall become effective until the acceptance of appointment by the
successor Issuer Trustee in accordance with the applicable requirements of
Section 8.11.

         Subject to the immediately preceding paragraph, a Relevant Trustee may
resign at any time by giving written notice thereof to the Holders. The Relevant
Trustee shall appoint a successor by requesting from at least three Persons
meeting the eligibility requirements its expenses and charges to serve as the
Relevant Trustee on a form provided by the Administrators, and selecting the
Person who agrees to the lowest expenses and charges. If the instrument of
acceptance by the successor Issuer Trustee required by Section 8.11 shall not
have been delivered to the Relevant Trustee within 60 days after the giving of
such notice of resignation, the Relevant Trustee may petition, at the expense of
the Issuer Trust, any court of competent jurisdiction for the appointment of a
successor Relevant Trustee.

         The Property Trustee or the Delaware Trustee may be removed at any time
by Act of the Holders of at least a Majority in Liquidation Amount of the
Capital Securities, delivered to the Relevant Trustee (in its individual
capacity and on behalf of the Issuer Trust) (i) for cause, or (ii) if a
Debenture Event of Default shall have occurred and be continuing at any time. If
the instrument of such removal shall not have been delivered to the Relevant
Trustee within 60 days after such Act, the Relevant Trustee may petition, at the
expense of the Issuer Trust, any court of competent jurisdiction for appointment
of a successor Relevant Trustee.

         If any Issuer Trustee shall resign, it shall appoint its successor. If
a resigning Issuer Trustee shall fail to appoint a successor, or if an Issuer
Trustee shall be removed or become incapable of acting as Issuer Trustee, or if
any vacancy shall occur in the office of any Issuer Trustee for any cause, the
Holders of the Capital Securities, by Act of the Holders of record of not less
than 25% in aggregate Liquidation Amount of the Capital Securities then
Outstanding delivered to such Relevant Trustee, shall promptly appoint a
successor Relevant Trustee or Trustees, and such successor Issuer Trustee shall
comply with the applicable requirements of Section 8.11. If no successor
Relevant Trustee shall have been so appointed by the Holders of the Capital
Securities and accepted appointment in the manner required by Section 8.11, any
Holder, on behalf of himself and all others similarly situated, or any other
Issuer Trustee, may petition any court of competent jurisdiction for the
appointment of a successor Relevant Trustee.

         The Property Trustee shall give notice of each resignation and each
removal of an Issuer Trustee and each appointment of a successor Issuer Trustee
to all Holders in the manner provided in Section 10.8 and shall give notice to
the Depositor and to the Administrators. Each notice shall include the name of
the successor Relevant Trustee and the address of its Corporate Trust Office if
it is the Property Trustee.

         Notwithstanding the foregoing or any other provision of this Trust
Agreement, in the event any Delaware Trustee who is a natural person dies or
becomes, in the opinion of the Holders of the Common Securities, incompetent or
incapacitated, the vacancy created by such death, incompetence or incapacity may
be filled by the Property Trustee following the

                                       43

<PAGE>

procedures regarding expenses and charges set forth above (with the successor in
each case being a Person who satisfies the eligibility requirements for
Administrators or Delaware Trustee, as the case may be, set forth in Section
8.7).

         SECTION 8.11. Acceptance of Appointment by Successor.

         In case of the appointment hereunder of a successor Relevant Trustee,
the retiring Relevant Trustee and each such successor Relevant Trustee with
respect to the Trust Securities shall execute, acknowledge and deliver an
amendment hereto wherein each successor Relevant Trustee shall accept such
appointment and which (a) shall contain such provisions as shall be necessary or
desirable to transfer and confirm to, and to vest in, each successor Relevant
Trustee all the rights, powers, trusts and duties of the retiring Relevant
Trustee with respect to the Trust Securities and the Issuer Trust, and (b) shall
add to or change any of the provisions of this Trust Agreement as shall be
necessary to provide for or facilitate the administration of the Issuer Trust by
more than one Relevant Trustee and upon the execution and delivery of such
amendment the resignation or removal of the retiring Relevant Trustee shall
become effective to the extent provided therein and each such successor Relevant
Trustee, without any further act, deed or conveyance, shall become vested with
all the rights, powers, trusts and duties of the retiring Relevant Trustee; but,
on request of the Issuer Trust or any successor Relevant Trustee such retiring
Relevant Trustee shall, upon payment of its charges, duly assign, transfer and
deliver to such successor Relevant Trustee all Trust Property, all proceeds
thereof and money held by such retiring Relevant Trustee hereunder with respect
to the Trust Securities and the Issuer Trust.

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

         No successor Relevant Trustee shall accept its appointment unless at
the time of such acceptance such successor Relevant Trustee shall be qualified
and eligible under this Article.

         SECTION 8.12. Merger, Conversion, Consolidation or Succession to
Business.

         Any Person into which an Issuer Trustee may be merged or converted or
with which it may be consolidated, or any Person resulting from any merger,
conversion or consolidation to which such Issuer Trustee shall be a party, or
any Person succeeding to all or substantially all the corporate trust business
of such Issuer Trustee, shall be the successor of such Issuer Trustee hereunder,
provided that such Person 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.

         SECTION 8.13. Preferential Collection of Claims Against Depositor or
Issuer Trust.

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

                                       44

<PAGE>

         SECTION 8.14. Trustee May File Proofs of Claim.

         In case of any receivership, insolvency, liquidation, bankruptcy,
reorganization, arrangement, adjustment, composition or other similar judicial
proceeding relative to the Issuer Trust or any other obligor upon the Trust
Securities or the property of the Issuer Trust or of such other obligor, the
Property Trustee (irrespective of whether any Distributions on the Trust
Securities shall then be due and payable and irrespective of whether the
Property Trustee shall have made any demand on the Issuer Trust for the payment
of any past due Distributions) shall be entitled and empowered, to the fullest
extent permitted by law, by intervention in such proceeding or otherwise:

         (a) to file and prove a claim for the whole amount of any Distributions
owing and unpaid in respect of the Trust Securities and to file such other
papers or documents as may be necessary or advisable in order to have the claims
of the Property Trustee (including any claim for the reasonable compensation,
expenses, disbursements and advances of the Property Trustee, its agents and
counsel) and of the Holders allowed in such judicial proceeding, and

         (b) to collect and receive any monies or other property payable or
deliverable on any such claims and to distribute the same; and any custodian,
receiver, assignee, trustee, liquidator, sequestrator or other similar official
in any such judicial proceeding is hereby authorized by each Holder to make such
payments to the Property Trustee and, in the event the Property Trustee shall
consent to the making of such payments directly to the Holders, to pay to the
Property Trustee any amount due it for the reasonable compensation, expenses,
disbursements and advances of the Property Trustee, its agents and counsel, and
any other amounts due the Property Trustee.

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

         SECTION 8.15. Reports by Property Trustee.

         (a) Not later than May 15 of each year commencing with May 15, 2002,
the Property Trustee shall provide to the Holders of the Trust Securities such
reports as are required by Section 313 of the Trust Indenture Act, if any, in
the form, in the manner and at the times provided by Section 313 of the Trust
Indenture Act. The Property Trustee shall also comply with the requirements of
Section 313(d) of the Trust Indenture Act.

         (b) A copy of each such report shall, at the time of such transmission
to Holders, be filed by the Property Trustee with the Depositor.

         SECTION 8.16. Reports to the Property Trustee.

         Each of the Depositor and the Administrators on behalf of the Issuer
Trust shall provide to the Property Trustee, the Commission and the Holders of
the Trust Securities, as applicable, such documents, reports and information as
required by Section 314(a)(1) - (3) (if any) of the

                                       45

<PAGE>

Trust Indenture Act and the compliance certificates required by Section
314(a)(4) and (c) of the Trust Indenture Act (provided that any certificate to
be provided pursuant to Section 314(a)(4) of the Trust Indenture Act shall be
provided within 120 days of the end of each fiscal year of the Issuer Trust).

         SECTION 8.17. Evidence of Compliance with Conditions Precedent.

         Each of the Depositor and the Administrators on behalf of the Issuer
Trust shall provide to the Property Trustee such evidence of compliance with any
conditions precedent, if any, provided for in this Trust Agreement which relate
to any of the matters set forth in Section 314(c) of the Trust Indenture Act.
Any certificate or opinion required to be given pursuant to Section 314(c) shall
comply with Section 314(e) of the Trust Indenture Act.

         SECTION 8.18. Number of Issuer Trustees.

         (a) The number of Issuer Trustees shall be two. The Property Trustee
and the Delaware Trustee may be the same Person, in which case the number of
Issuer Trustees may be one.

         (b) If an Issuer Trustee ceases to hold office for any reason, a
vacancy shall occur. The vacancy shall be filled with an Issuer Trustee
appointed in accordance with Section 8.10.

         (c) The death, resignation, retirement, removal, bankruptcy,
dissolution, termination, incompetence or incapacity to perform the duties of an
Issuer Trustee shall not operate to dissolve, terminate or annul the Issuer
Trust or terminate this Trust Agreement.

         SECTION 8.19. Delegation of Power.

         (a) Any Administrator may, by power of attorney consistent with
applicable law, delegate to any other natural person over the age of 21 his or
her power for the purpose of executing any documents contemplated in Section
2.7(a) or making any governmental filing; and

         (b) The Administrators shall have power to delegate from time to time
to such of their number the doing of such things and the execution of such
instruments either in the name of the Issuer Trust or the names of the
Administrators or otherwise as the Administrators may deem expedient, to the
extent such delegation is not prohibited by applicable law or contrary to the
provisions of this Trust Agreement.

         SECTION 8.20. Appointment of Administrators.

         (a) The Administrators shall be appointed by the Holders of a Majority
in Liquidation Amount of the Common Securities and may be removed by the Holders
of a Majority in Liquidation Amount of the Common Securities or may resign at
any time. Upon any resignation or removal, the Depositor shall appoint a
successor Administrator. Each Administrator shall execute this Trust Agreement
thereby agreeing to comply with, and be legally bound by, all of the terms,
conditions and provisions of this Trust Agreement. If at any time there is no
Administrator, the Property Trustee or any Holder who has been a Holder of Trust
Securities for

                                       46

<PAGE>

at least six months may petition any court of competent jurisdiction for the
appointment of one or more Administrators.

         (b) Whenever a vacancy in the number of Administrators shall occur,
until such vacancy is filled by the appointment of an Administrator in
accordance with this Section 8.20, the Administrators in office, regardless of
their number (and notwithstanding any other provision of this Trust Agreement),
shall have all the powers granted to the Administrators and shall discharge all
the duties imposed upon the Administrators by this Trust Agreement.

         (c) Notwithstanding the foregoing, or any other provision of this Trust
Agreement, in the event any Administrator or a Delaware Trustee who is a natural
person dies or becomes, in the opinion of the Holders of a Majority in
Liquidation Amount of the Common Securities, incompetent, or incapacitated, the
vacancy created by such death, incompetence or incapacity may be filled by the
remaining Administrators, if there were at least two of them prior to such
vacancy, and by the Depositor, if there were not two such Administrators
immediately prior to such vacancy (with the successor in each case being a
Person who satisfies the eligibility requirement for Administrators or Delaware
Trustee, as the case may be, set forth in Section 8.7).

                                   ARTICLE IX

                       DISSOLUTION, LIQUIDATION AND MERGER

         SECTION 9.1. Dissolution Upon Expiration Date.

         Unless earlier dissolved, the Issuer Trust shall automatically dissolve
on July 31, 2051 (the "Expiration Date"), and thereafter the Trust Property
shall be distributed in accordance with Section 9.4.

         SECTION 9.2. Early Termination.

         The first to occur of any of the following events is an "Early
Termination Event" and the occurrence of which shall cause the dissolution of
the Issuer Trust:

         (a) the occurrence of the appointment of a receiver or other similar
official in any liquidation, insolvency or similar proceeding with respect to
the Depositor or all or substantially all of its property, or a court or other
governmental agency shall enter a decree or order and such decree or order shall
remain unstayed and undischarged for a period of 60 days, unless the Depositor
shall transfer the Common Securities as provided by Section 5.11, in which case
this provision shall refer instead to any such successor Holder of the Common
Securities;

         (b) the written direction to the Property Trustee from the Holder of
the Common Securities at any time to dissolve the Issuer Trust and to distribute
a Like Amount of the Junior Subordinated Debentures to Holders in exchange for
the Capital Securities (which direction, subject to Section 9.4(a), is optional
and wholly within the discretion of the Holders of the Common Securities);

                                       47

<PAGE>

         (c) the redemption of all of the Capital Securities in connection with
the redemption of all the Junior Subordinated Debentures or the maturity of the
Junior Subordinated Debentures; and

         (d) the entry of an order for dissolution of the Issuer Trust by a
court of competent jurisdiction.

         SECTION 9.3. Termination.

         As soon as is practicable after the occurrence of an event referred to
in Section 9.1 or 9.2, and upon the completion of the winding up and liquidation
of the Issuer Trust, the Administrators or the Issuer Trustees (each of whom is
hereby authorized to take such action) shall file a certificate of cancellation
with the Secretary of State of the State of Delaware terminating the Trust and,
upon such filing, the respective obligations and responsibilities of the Issuer
Trustees, the Administrators and the Issuer Trust shall terminate.

         SECTION 9.4. Liquidation.

         (a) If an Early Termination Event specified in clause (a), (b) or (d)
of Section 9.2 occurs or upon the Expiration Date, the Issuer Trust shall be
wound up and liquidated by the Property Trustee as expeditiously as the Property
Trustee determines to be possible by distributing, after paying or making
reasonable provision to pay all claims and obligations of the Issuer Trust in
accordance with Section 3808(e) of the Delaware Business Trust Act, to each
Holder a Like Amount of Junior Subordinated Debentures, subject to Section
9.4(d). Notice of liquidation shall be given by the Property Trustee by
first-class mail, postage prepaid, mailed not later than 15 nor more than 45
days prior to the Liquidation Date to each Holder of Trust Securities at such
Holder's address appearing in the Securities Register. All notices of
liquidation shall:

             (i)   state the Liquidation Date;

             (ii)  state that, from and after the Liquidation Date, the Trust
         Securities will no longer be deemed to be Outstanding and any Trust
         Securities Certificates not surrendered for exchange will be deemed to
         represent a Like Amount of Junior Subordinated Debentures; and

             (iii) provide such information with respect to the mechanics by
         which Holders may exchange Trust Securities Certificates for Junior
         Subordinated Debentures, or if Section 9.4(d) applies, receive a
         Liquidation Distribution, as the Administrators or the Property Trustee
         shall deem appropriate.

         (b) Except where Section 9.2(c) or 9.4(d) applies, in order to effect
the liquidation of the Issuer Trust and distribution of the Junior Subordinated
Debentures to Holders, the Property Trustee shall establish a record date for
such distribution (which shall be not more than 30 days prior to the Liquidation
Date) and, either itself acting as exchange agent or through the appointment of
a separate exchange agent, shall establish such procedures as it shall deem
appropriate to effect the distribution of Junior Subordinated Debentures in
exchange for the Outstanding Trust Securities Certificates.

                                       48

<PAGE>

         (c) Except where Section 9.2(c) or 9.4(d) applies, after the
Liquidation Date, (i) the Capital Securities will no longer be deemed to be
Outstanding, (ii) the Clearing Agency for the Capital Securities or its nominee,
as the registered holder of the Global Capital Securities Certificate, shall
receive a registered global certificate or certificates representing the Junior
Subordinated Debentures to be delivered upon such distribution with respect to
Capital Securities held by the Clearing Agency or its nominee, and, (iii) any
Capital Securities Certificates not held by the Clearing Agency for the Capital
Securities or its nominee as specified in clause (ii) above will be deemed to
represent Junior Subordinated Debentures having a principal amount equal to the
stated Liquidation Amount of the Capital Securities represented thereby and
bearing accrued and unpaid interest in an amount equal to the accumulated and
unpaid Distributions on such Capital Securities until such certificates are
presented to the Securities Registrar for transfer or reissuance.

         (d) If, notwithstanding the other provisions of this Section 9.4,
whether because of an order for dissolution entered by a court of competent
jurisdiction or otherwise, distribution of the Junior Subordinated Debentures is
not practical, or if any Early Termination Event specified in clause (c) of
Section 9.2 occurs, the Issuer Trust shall be dissolved and wound up and the
Trust Property shall be liquidated by the Property Trustee in such manner as the
Property Trustee determines. In such event, on the date of the dissolution of
the Issuer Trust, unless the Trust Securities have been redeemed or are to be
redeemed on such date pursuant to Article IV, Holders will be entitled to
receive out of the assets of the Issuer Trust available for distribution to
Holders, after paying or making reasonable provision to pay all claims and
obligations of the Issuer Trust in accordance with Section 3808(e) of the
Delaware Business Trust Act, an amount equal to the aggregate of Liquidation
Amount per Trust Security plus accumulated and unpaid Distributions thereon to
the date of payment (such amount being the "Liquidation Distribution"). If, upon
any such dissolution, the Liquidation Distribution can be paid only in part
because the Issuer Trust has insufficient assets available to pay in full the
aggregate Liquidation Distribution, then, subject to the next succeeding
sentence, the amounts payable by the Issuer Trust on the Trust Securities shall
be paid on a pro rata basis (based upon Liquidation Amounts). The Holders of the
Common Securities will be entitled to receive Liquidation Distributions upon any
such dissolution pro rata (determined as aforesaid) with Holders of Capital
Securities, except that, if a Debenture Event of Default has occurred and is
continuing as a result of any failure by the Company to pay any amounts in
respect of Junior Subordinated Debentures when due, the Capital Securities shall
have a priority over the Common Securities as provided in Section 4.3.

         SECTION 9.5. Mergers, Consolidations, Amalgamations or Replacements of
the Issuer Trust.

         The Issuer Trust may not merge with or into, consolidate, amalgamate,
or be replaced by, or convey, transfer or lease its properties and assets
substantially as an entirety to, any entity, except pursuant to this Section 9.5
or Section 9.4. At the request of the Holders of the Common Securities, and with
the consent of the Holders of at least a Majority in Liquidation Amount of the
Capital Securities, the Issuer Trust may merge with or into, consolidate,
amalgamate, or be replaced by or convey, transfer or lease its properties and
assets substantially as an entirety to a trust organized as such under the laws
of any State; provided, however, that (i) such successor entity either (a)
expressly assumes all of the obligations of the Issuer Trust with respect to the
Capital Securities or (b) substitutes for the Capital Securities other
securities having substantially

                                       49

<PAGE>

the same terms as the Capital Securities (the "Successor Securities") so long as
the Successor Securities have the same priority as the Capital Securities with
respect to distributions and payments upon liquidation, redemption and
otherwise, (ii) a trustee of such successor entity possessing the same powers
and duties as the Property Trustee is appointed to hold the Junior Subordinated
Debentures, (iii) such merger, consolidation, amalgamation, replacement,
conveyance, transfer or lease does not cause the Capital Securities (including
any Successor Securities) to be downgraded by any nationally recognized
statistical rating organization, (iv) such merger, consolidation, amalgamation,
replacement, conveyance, transfer or lease does not adversely affect the rights,
preferences and privileges of the Holders of the Capital Securities (including
any Successor Securities) in any material respect, (v) such successor entity has
a purpose substantially identical to that of the Issuer Trust, (vi) prior to
such merger, consolidation, amalgamation, replacement, conveyance, transfer or
lease, the Issuer Trustee has received an Opinion of Counsel from independent
counsel experienced in such matters to the effect that (a) such merger,
consolidation, amalgamation, replacement, conveyance, transfer or lease does not
adversely affect the rights, preferences and privileges of the Holders of the
Capital Securities (including any Successor Securities) in any material respect,
and (b) following such merger, consolidation, amalgamation, replacement,
conveyance, transfer or lease, neither the Issuer Trust nor such successor
entity will be required to register as an "investment company" under the
Investment Company Act and (vii) the Depositor or any permitted transferee to
whom it has transferred the Common Securities hereunder own all of the common
securities of such successor entity and guarantees the obligations of such
successor entity under the Successor Securities at least to the extent provided
by the Guarantee Agreement. Notwithstanding the foregoing, the Issuer Trust
shall not, except with the consent of Holders of 100% in Liquidation Amount of
the Capital Securities, consolidate, amalgamate, merge with or into, or be
replaced by or convey, transfer or lease its properties and assets substantially
as an entirety to any other entity or permit any other entity to consolidate,
amalgamate, merge with or into, or replace it if such consolidation,
amalgamation, merger, replacement, conveyance, transfer or lease would cause the
Issuer Trust or the successor entity to be taxable as a corporation for United
States Federal income tax purposes.

                                   ARTICLE X

                            MISCELLANEOUS PROVISIONS

         SECTION 10.1. Limitation of Rights of Holders.

         Except as set forth in Section 9.2, the death, incapacity, dissolution,
termination or bankruptcy of any Person having an interest, beneficial or
otherwise, in Trust Securities shall not operate to terminate this Trust
Agreement, nor dissolve or terminate the Issuer Trust, nor entitle the legal
representatives, successors or heirs of such Person or any Holder for such
Person, to claim an accounting, take any action or bring any proceeding in any
court for a partition or winding-up of the arrangements contemplated hereby, nor
otherwise affect the rights, obligations and liabilities of the parties hereto
or any of them. Any merger or similar agreement authorized in accordance with
this Trust Agreement shall be executed by one or more of the Administrators on
behalf of the Issuer Trust.

                                       50

<PAGE>

         SECTION 10.2. Amendment.

         (a) This Trust Agreement may be amended from time to time by the
Property Trustee and the Holders of a Majority in Liquidation Amount of the
Common Securities, without the consent of any Holder of the Capital Securities
(i) to cure any ambiguity, correct or supplement any provision herein which may
be inconsistent with any other provision herein, or to make any other provisions
with respect to matters or questions arising under this Trust Agreement,
provided, however, that such amendment shall not adversely affect in any
material respect the interests of any Holder or (ii) to modify, eliminate or add
to any provisions of this Trust Agreement to such extent as shall be necessary
to ensure that the Issuer Trust will not be taxable as a corporation for United
States Federal income tax purposes at any time that any Trust Securities are
Outstanding or to ensure that the Issuer Trust will not be required to register
as an investment company under the Investment Company Act.

         (b) Except as provided in Section 10.2(c) hereof, any provision of this
Trust Agreement may be amended by the Property Trustee and the Holders of a
Majority in Liquidation Amount of the Common Securities with (i) the consent of
Holders of at least a Majority in Liquidation Amount of the Capital Securities
and (ii) receipt by the Issuer Trustees of an Opinion of Counsel to the effect
that such amendment or the exercise of any power granted to the Issuer Trustees
in accordance with such amendment will not cause the Issuer Trust to be taxable
as a corporation for United States Federal income tax purposes or affect the
Issuer Trust's exemption from status of an "investment company" under the
Investment Company Act.

         (c) In addition to and notwithstanding any other provision in this
Trust Agreement, without the consent of each affected Holder, this Trust
Agreement may not be amended to (i) change the amount or timing of any
Distribution on the Trust Securities or otherwise adversely affect the amount of
any Distribution required to be made in respect of the Trust Securities as of a
specified date or (ii) restrict the right of a Holder to institute suit for the
enforcement of any such payment on or after such date.

         (d) Notwithstanding any other provisions of this Trust Agreement, no
Issuer Trustee shall enter into or consent to any amendment to this Trust
Agreement which would cause the Issuer Trust to fail or cease to qualify for the
exemption from status as an "investment company" under the Investment Company
Act or be taxable as a corporation for United States Federal income tax
purposes.

         (e) Notwithstanding anything in this Trust Agreement to the contrary,
without the consent of the Depositor and the Administrators, this Trust
Agreement may not be amended in a manner which imposes any additional obligation
on the Depositor or the Administrators.

         (f) In the event that any amendment to this Trust Agreement is made,
the Administrators or the Property Trustee shall promptly provide to the
Depositor a copy of such amendment.

         (g) Neither the Property Trustee nor the Delaware Trustee shall be
required to enter into any amendment to this Trust Agreement which affects its
own rights, duties or immunities under this Trust Agreement. The Property
Trustee shall be entitled to receive an Opinion of

                                       51

<PAGE>

Counsel and an Officer's Certificate stating that any amendment to this Trust
Agreement is in compliance with this Trust Agreement.

         (h) Any amendments to this Trust Agreement, pursuant to Section
10.2(a), shall become effective when notice of such amendment is given to the
Holders of the Trust Securities.

         (i) Notwithstanding any other provision of this Trust Agreement, no
amendment to this Trust Agreement may be made if, as a result of such amendment,
it would cause the Issuer Trust to be taxable as a corporation for United States
Federal income tax purposes.

         SECTION 10.3. Separability.

         In case any provision in this Trust Agreement or in the Trust
Securities Certificates 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 10.4. Governing Law.

         THIS TRUST AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF EACH OF THE
HOLDERS, THE ISSUER TRUST, THE DEPOSITOR, THE ISSUER TRUSTEES AND THE
ADMINISTRATORS SHALL BE GOVERNED BY AND INTERPRETED IN ACCORDANCE WITH THE LAWS
OF THE STATE OF DELAWARE AND ALL RIGHTS AND REMEDIES SHALL BE GOVERNED BY SUCH
LAWS WITHOUT REGARD TO THE PRINCIPLES OF CONFLICT OF LAWS OF THE STATE OF
DELAWARE OR ANY OTHER JURISDICTION THAT WOULD CALL FOR THE APPLICATION OF THE
LAW OF ANY JURISDICTION OTHER THAN THE STATE OF DELAWARE; PROVIDED, HOWEVER,
THAT THERE SHALL NOT BE APPLICABLE TO THE HOLDERS, THE ISSUER TRUST, THE
DEPOSITOR, THE ISSUER TRUSTEES, THE ADMINISTRATORS OR THIS TRUST AGREEMENT ANY
PROVISION OF THE LAWS (STATUTORY OR COMMON) OF THE STATE OF DELAWARE PERTAINING
TO TRUSTS THAT RELATE TO OR REGULATE, IN A MANNER INCONSISTENT WITH THE TERMS
HEREOF (A) THE FILING WITH ANY COURT OR GOVERNMENTAL BODY OR AGENCY OF TRUSTEE
ACCOUNTS OR SCHEDULES OF TRUSTEE FEES AND CHARGES, (B) AFFIRMATIVE REQUIREMENTS
TO POST BONDS FOR TRUSTEES, OFFICERS, AGENTS OR EMPLOYEES OF A TRUST, (C) THE
NECESSITY FOR OBTAINING COURT OR OTHER GOVERNMENTAL APPROVAL CONCERNING THE
ACQUISITION, HOLDING OR DISPOSITION OF REAL OR PERSONAL PROPERTY, (D) FEES OR
OTHER SUMS PAYABLE TO TRUSTEES, OFFICERS, AGENTS OR EMPLOYEES OF A TRUST, (E)
THE ALLOCATION OF RECEIPTS AND EXPENDITURES TO INCOME OR PRINCIPAL, (F)
RESTRICTIONS OR LIMITATIONS ON THE PERMISSIBLE NATURE, AMOUNT OR CONCENTRATION
OF TRUST INVESTMENTS OR REQUIREMENTS RELATING TO THE TITLING, STORAGE OR OTHER
MANNER OF HOLDING OR INVESTING TRUST ASSETS OR (G) THE ESTABLISHMENT OF
FIDUCIARY OR OTHER STANDARDS OF RESPONSIBILITY OR LIMITATIONS ON THE ACTS OR
POWERS OF TRUSTEES THAT ARE INCONSISTENT WITH THE LIMITATIONS OR LIABILITIES OR
AUTHORITIES AND POWERS OF THE ISSUER TRUSTEES OR THE ADMINISTRATORS AS SET FORTH
OR REFERENCED IN THIS TRUST AGREEMENT.

                                       52

<PAGE>

SECTION 3540 OF TITLE 12 OF THE DELAWARE CODE SHALL NOT APPLY TO THE ISSUER
TRUST.

         SECTION 10.5. Payments Due on Non-Business Day.

         If the date fixed for any payment on any Trust Security shall be a day
that is not a Business Day, then such payment need not be made on such date but
may be made on the next succeeding day that is a Business Day, with the same
force and effect as though made on the date fixed for such payment, and no
Distributions shall accumulate on such unpaid amount for the period after such
date.

         SECTION 10.6. Successors.

         This Trust Agreement shall be binding upon and shall inure to the
benefit of any successor to the Depositor, the Issuer Trust, the Administrators
and any Issuer Trustee, including any successor by operation of law. Except in
connection with a consolidation, merger or sale involving the Depositor that is
permitted under Article VIII of the Indenture and pursuant to which the assignee
agrees in writing to perform the Depositor's obligations hereunder, the
Depositor shall not assign its obligations hereunder.

         SECTION 10.7. Headings.

         The Article and Section headings are for convenience only and shall not
affect the construction of this Trust Agreement.

         SECTION 10.8. Reports, Notices and Demands.

         Any report, notice, demand or other communication that by any provision
of this Trust Agreement is required or permitted to be given or served to or
upon any Holder or the Depositor may be given or served in writing by deposit
thereof, first-class postage prepaid, in the United States mail, hand delivery
or facsimile transmission, in each case, addressed, (a) in the case of a Holder
of Capital Securities, to such Holder as such Holder's name and address may
appear on the Securities Register; and (b) in the case of the Holder of Common
Securities or the Depositor, to Morgan Stanley Dean Witter & Co., 1585 Broadway,
New York, NY 10036, Attention: Office of the Secretary, facsimile no.: (212)
761-0331 or to such other address as may be specified in a written notice by the
Depositor to the Property Trustee. Such notice, demand or other communication to
or upon a Holder shall be deemed to have been sufficiently given or made, for
all purposes, upon hand delivery, mailing or transmission. Such notice, demand
or other communication to or upon the Depositor shall be deemed to have been
sufficiently given or made only upon actual receipt of the writing by the
Depositor.

         Any notice, demand or other communication which by any provision of
this Trust Agreement is required or permitted to be given or served to or upon
the Property Trustee, the Delaware Trustee, the Administrators, or the Issuer
Trust shall be given in writing addressed (until another address is published by
the Issuer Trust) as follows: (a) with respect to the Property Trustee to The
Bank of New York, 101 Barclay Street, Floor 21 West, New York, NY 10286,
Attention: Corporate Trust Administration; (b) with respect to the Delaware
Trustee to The Bank of New York (Delaware), 101 Barclay Street, Floor 21 West,
New York, NY 10286,

                                       53

<PAGE>

Attention: Corporate Trust Administration; and (c) with respect to the
Administrators, to them at the address above for notices to the Depositor,
marked "Attention: Office of the Secretary". Such notice, demand or other
communication to or upon the Issuer Trust, the Property Trustee or the
Administrators shall be deemed to have been sufficiently given or made only upon
actual receipt of the writing by the Issuer Trust, the Property Trustee, or such
Administrator.

         SECTION 10.9. Agreement Not to Petition.

         Each of the Issuer Trustees, the Administrators and the Depositor agree
for the benefit of the Holders that, until at least one year and one day after
the Issuer Trust has been terminated in accordance with Article IX, they shall
not file, or join in the filing of, a petition against the Issuer Trust under
any bankruptcy, insolvency, reorganization or other similar law (including,
without limitation, the United States Bankruptcy Code) (collectively,
"Bankruptcy Laws") or otherwise join in the commencement of any proceeding
against the Issuer Trust under any Bankruptcy Law. In the event the Depositor
takes action in violation of this Section 10.9, the Property Trustee agrees, for
the benefit of Holders, that at the expense of the Depositor, it shall file an
answer with the bankruptcy court or otherwise properly contest the filing of
such petition by the Depositor against the Issuer Trust or the commencement of
such action and raise the defense that the Depositor has agreed in writing not
to take such action and should be estopped and precluded therefrom and such
other defenses, if any, as counsel for the Issuer Trustee or the Issuer Trust
may assert. If any Issuer Trustee or Administrator takes action in violation of
this Section 10.9, the Depositor agrees, for the benefit of the Holders, that at
the expense of the Depositor, it shall file an answer with the bankruptcy court
or otherwise properly contest the filing of such petition by such Person against
the Depositor or the commencement of such action and raise the defense that such
Person has agreed in writing not to take such action and should be estopped and
precluded therefrom and such other defenses, if any, as counsel for the Issuer
Trustee or the Issuer Trust may assert. The provisions of this Section 10.9
shall survive the termination of this Trust Agreement.

         SECTION 10.10. Trust Indenture Act; Conflict with Trust Indenture Act.

         (a) Trust Indenture Act; Application. (i) This Trust Agreement is
subject to the provisions of the Trust Indenture Act that are required to be a
part of this Trust Agreement and shall, to the extent applicable, be governed by
such provisions; (ii) if and to the extent that any provision of this Trust
Agreement limits, qualifies or conflicts with the duties imposed by Sections 310
to 317, inclusive, of the Trust Indenture Act, such imposed duties shall
control; (iii) for purposes of this Trust Agreement, the Property Trustee, to
the extent permitted by applicable law and/or the rules and regulations of the
Commission, shall be the only Issuer Trustee which is a trustee for the purposes
of the Trust Indenture Act; and (iv) the application of the Trust Indenture Act
to this Trust Agreement shall not affect the nature of the Capital Securities
and the Common Securities as equity securities representing undivided beneficial
interests in the assets of the Issuer Trust.

         (b) Lists of Holders of Capital Securities. (i) Each of the Depositor
and the Administrators on behalf of the Trust shall provide the Property Trustee
with such information as is required under Section 312(a) of the Trust Indenture
Act at the times and in the manner

                                       54

<PAGE>

provided in Section 312(a) and (ii) the Property Trustee shall comply with its
obligations under Sections 310(b), 311 and 312(b) of the Trust Indenture Act.

         (c) Disclosure of Information. The disclosure of information as to the
names and addresses of the Holders of Trust Securities in accordance with
Section 312 of the Trust Indenture Act, regardless of the source from which such
information was derived, shall not be deemed to be a violation of any existing
law or any law hereafter enacted which does not specifically refer to Section
312 of the Trust Indenture Act, nor shall the Property Trustee be held
accountable by reason of mailing any material pursuant to a request made under
Section 312(b) of the Trust Indenture Act.

         SECTION 10.11. Acceptance of Terms of Trust Agreement, Guarantee and
Indenture.

         THE RECEIPT AND ACCEPTANCE OF A TRUST SECURITY OR ANY INTEREST THEREIN
BY OR ON BEHALF OF A HOLDER OR ANY BENEFICIAL OWNER, WITHOUT ANY SIGNATURE OR
FURTHER MANIFESTATION OF ASSENT, SHALL CONSTITUTE THE UNCONDITIONAL ACCEPTANCE
BY THE HOLDER AND ALL OTHERS HAVING A BENEFICIAL INTEREST IN SUCH TRUST SECURITY
OF ALL THE TERMS AND PROVISIONS OF THIS TRUST AGREEMENT, THE GUARANTEE AGREEMENT
AND THE INDENTURE, AND THE AGREEMENT TO THE SUBORDINATION PROVISIONS AND OTHER
TERMS OF THE GUARANTEE AGREEMENT AND THE INDENTURE, AND SHALL CONSTITUTE THE
AGREEMENT OF THE ISSUER TRUST, SUCH HOLDER AND SUCH OTHERS THAT THE TERMS AND
PROVISIONS OF THIS TRUST AGREEMENT SHALL BE BINDING, OPERATIVE AND EFFECTIVE AS
BETWEEN THE ISSUER TRUST AND SUCH HOLDER AND SUCH OTHERS.

         SECTION 10.12. Counterparts.

         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.

                                       55

<PAGE>

                            MORGAN STANLEY DEAN WITTER & CO.,
                            as Depositor

                            By: /s/  Alexander C. Frank
                                ---------------------------------
                            Name: Alexander C. Frank
                            Title:    Treasurer

                            THE BANK OF NEW YORK,
                            as Property Trustee, and
                            not in its individual capacity

                            By: /s/  Kisha A. Holder
                                ---------------------------------
                            Name: Kisha A. Holder
                            Title: Assistant Treasurer

                            THE BANK OF NEW YORK (DELAWARE),
                            as Delaware Trustee, and not
                            in its individual capacity

                            By: /s/  William T. Lewis
                                ---------------------------------
                            Name: William T. Lewis
                            Title: Senior Vice President

                            By: /s/  Alexander C. Frank
                                ---------------------------------
                            Name: Alexander C. Frank
                            Title: Administrator

                            By: /s/  Debra M. Aaron
                                ---------------------------------
                            Name: Debra M. Aaron
                            Title: Administrator<PAGE>

                                                                     EXHIBIT 4.3

--------------------------------------------------------------------------------

                                 ANTHEM, INC.,
                                             as Issuer

                                      TO

                                --------------
                                             as Trustee

                                   Indenture

                            Dated as of _ __, 2001

                                  DEBENTURES

--------------------------------------------------------------------------------
<PAGE>

                               TABLE OF CONTENTS

                                  ----------

<TABLE>
<CAPTION>
                                                                                         Page
                                                                                         ----
<S>                                                                                      <C>
Parties...............................................................................    1

Recitals of the Company...............................................................    1

                                             ARTICLE I

                              DEFINITIONS AND INCORPORATION BY REFERENCE

SECTION 1.1.   Definitions............................................................    1
               Affiliate..............................................................    1
               Board of Directors.....................................................    1
               Board Resolution.......................................................    1
               Business Day...........................................................    1
               Capital Stock..........................................................    2
               Common Stock...........................................................    2
               Company Order..........................................................    2
               Corporate Trust Office.................................................    2
               Debentureholder........................................................    2
               Debentures.............................................................    2
               Default................................................................    2
               Deferral Period........................................................    2
               Designated Senior Indebtedness.........................................    2
               Exchange Act...........................................................    2
               Indenture..............................................................    2
               Interest Payment Date..................................................    3
               Issue Date.............................................................    3
               Office.................................................................    3
               Agency.................................................................    3
               Officer................................................................    3
               Officer's Certificate..................................................    3
               Opinion of Counsel.....................................................    3
               Paying Agent...........................................................    3
               Person.................................................................    3
               Predecessor Debentures.................................................    3
               Record Date............................................................    3
               Redemption Date........................................................    4
               Redemption Price.......................................................    4
               Regular Record Date....................................................    4
               Responsible Officer....................................................    4
               SEC....................................................................    4
               Securities Act.........................................................    4
               Senior Indebtedness....................................................    4
</TABLE>

                                       i
<PAGE>

<TABLE>
<S>                                                                                      <C>
               series..................................................................   5
               Special Record Date.....................................................   5
               Stated Maturity Date....................................................   5
               Subsidiary..............................................................   5
               TIA.....................................................................   5
               Trustee.................................................................   5
               U.S. Government Obligations.............................................   5
SECTION 1.2.   Other Definitions.......................................................   5
SECTION 1.3.   Incorporation by Reference of TIA.......................................   6
SECTION 1.4.   Rules of Construction...................................................   6
SECTION 1.5.   Acts of Holders and Holders of Debentures...............................   7

                                         ARTICLE II

                                       THE DEBENTURES

SECTION 2.1.   Amount Unlimited; Issuable in Series....................................   8
SECTION 2.2.   Payment of Principal and Interest.......................................  10
SECTION 2.3.   Execution, Authentication and Delivery..................................  12
SECTION 2.4.   Registrar and Paying and Conversion Agents..............................  14
SECTION 2.5.   Paying Agent to Hold Money in Trust.....................................  15
SECTION 2.6.   Debentureholder Lists...................................................  15
SECTION 2.7.   Transfer and Exchange...................................................  16
SECTION 2.8.   Replacement Debentures..................................................  17
SECTION 2.9.   Outstanding Debentures; Determinations of Holders' Action...............  17
SECTION 2.10.  Temporary Debentures....................................................  18
SECTION 2.11.  Book-Entry System.......................................................  18
SECTION 2.12.  Cancellation............................................................  20
SECTION 2.13.  CUSIP Numbers...........................................................  20
SECTION 2.14.  Record Date.............................................................  21

                                        ARTICLE III

                                         REDEMPTION

SECTION 3.1.   Redemption; Notice to Trustee...........................................  21
SECTION 3.2.   Selection of Debentures to Be Redeemed..................................  21
SECTION 3.3.   Notice of Redemption....................................................  21
SECTION 3.4.   Effect of Notice of Redemption..........................................  22
SECTION 3.5.   Deposit of Redemption Price.............................................  23
SECTION 3.6.   Debentures Redeemed in Part.............................................  23

                                         ARTICLE IV

                                         COVENANTS

SECTION 4.1.   Payment of Principal, Premium and Interest..............................  23
SECTION 4.2.   Limitation on Dividends.................................................  24
</TABLE>

                                      ii
<PAGE>

<TABLE>
<S>                                                                                             <C>
SECTION 4.3.    Periodic Reports to Trustee...................................................  25
SECTION 4.4.    Compliance Certificates.......................................................  25
SECTION 4.5.    Further Instruments and Acts..................................................  25
SECTION 4.6.    Statement by Officers as to Default...........................................  26

                                                ARTICLE V

                                          SUCCESSOR CORPORATION

SECTION 5.1.    When the Company May Merge, Etc...............................................  26

                                            ARTICLE VI

                                       DEFAULTS AND REMEDIES

SECTION 6.1.    Events of Default.............................................................  27
SECTION 6.2.    Acceleration..................................................................  28
SECTION 6.3.    Other Remedies................................................................  29
SECTION 6.4.    Waiver of Past Defaults.......................................................  29
SECTION 6.5.    Control by Holders............................................................  29
SECTION 6.6.    Limitation on Suits...........................................................  30
SECTION 6.7.    Unconditional Right of Holders to Receive Principal, Premium and Interest.....  30
SECTION 6.8.    Collection Suits by the Trustee...............................................  31
SECTION 6.9.    Trustee May File Proofs of Claim..............................................  31
SECTION 6.10.   Priorities....................................................................  32
SECTION 6.11.   Undertaking for Costs.........................................................  32

                                            ARTICLE VII

                                            THE TRUSTEE

SECTION 7.1.    Duties and Responsibilities of the Trustee....................................  33
SECTION 7.2.    Rights of the Trustee.........................................................  34
SECTION 7.3.    Not Responsible for Recitals or Issuances of Debentures.......................  35
SECTION 7.4.    May Hold Debentures...........................................................  35
SECTION 7.5.    Notice of Defaults............................................................  35
SECTION 7.6.    Reports by Trustee to Holders.................................................  36
SECTION 7.7.    Compensation and Indemnity....................................................  36
SECTION 7.8.    Eligibility; Disqualification.................................................  37
SECTION 7.9.    Resignation and Removal; Appointment of Successor.............................  37
SECTION 7.10.   Acceptance of Appointment by Successor........................................  39
SECTION 7.11.   Successor Trustee by Merger...................................................  40

                                           ARTICLE VIII

                     SATISFACTION AND DISCHARGE OF INDENTURE; UNCLAIMED MONEYS

SECTION 8.1.    Satisfaction and Discharge of Indenture......................................   40
</TABLE>

                                      iii
<PAGE>

<TABLE>
<S>                                                                                         <C>
SECTION 8.2.   Application by Trustee of Funds Deposited for Payment of Debentures.......   42
SECTION 8.3.   Repayment of Moneys Held by Paying Agent..................................   42
SECTION 8.4.   Return of Moneys Held by the Trustee and Paying Agent Unclaimed for Two
                  Years..................................................................   42

                                           ARTICLE IX

                                    SUPPLEMENTAL INDENTURES

SECTION 9.1.   Supplemental Indentures Without Consent of Holders........................   43
SECTION 9.2.   Supplemental Indentures with Consent of Holders...........................   44
SECTION 9.3.   Compliance with Trust Indenture Act.......................................   45
SECTION 9.4.   Revocation and Effect of Consents, Waivers and Actions....................   45
SECTION 9.5.   Notation on or Exchange of Debentures.....................................   46
SECTION 9.6.   Execution of Supplemental Indentures......................................   46
SECTION 9.7.   Effect of Supplemental Indentures.........................................   46

                                           ARTICLE X

                                         SINKING FUNDS

SECTION 10.1.  Applicability of Article..................................................   47
SECTION 10.2.  Satisfaction of Sinking Fund Payments with Debentures.....................   47
SECTION 10.3.  Redemption of Debentures for Sinking Fund.................................   48

                                           ARTICLE XI

                                  MEETINGS OF DEBENTUREHOLDERS

SECTION 11.1.  Purposes for Which Meetings May Be Called.................................   48
SECTION 11.2.  Call, Notice and Place of Meetings........................................   48
SECTION 11.3.  Persons Entitled to Vote at Meetings......................................   49
SECTION 11.4.  Quorum; Action............................................................   49
SECTION 11.5.  Determination of Voting Rights; Conduct and Adjournment of Meetings.......   50
SECTION 11.6.  Counting Votes and Recording Action of Meetings...........................   51

                                          ARTICLE XII

                                  SUBORDINATION OF DEBENTURES

SECTION 12.1.  Debentures Subordinate to Senior Indebtedness.............................   51
SECTION 12.2.  No Payment in Certain Circumstances, Payment over of Proceeds upon
                  Dissolution, Etc.......................................................   51
SECTION 12.3.  Prior Payment to Senior Indebtedness upon Acceleration of the Debentures..   53
SECTION 12.4.  Payment Permitted If No Default...........................................   54
SECTION 12.5.  Subrogation to Rights of Holders of Senior Indebtedness...................   54
SECTION 12.6.  Provisions Solely to Define Relative Rights...............................   54
</TABLE>

                                      iv
<PAGE>

<TABLE>
<S>                                                                                          <C>
SECTION 12.7.    Trustee to Effectuate Subordination.......................................  55
SECTION 12.8.    No Waiver of Subordination Provisions.....................................  55
SECTION 12.9.    Notice to Trustee.........................................................  55
SECTION 12.10.   Reliance on Judicial Order or Certificate of Liquidating Agent............  56
SECTION 12.11.   Trustee Not Fiduciary for Holders of Senior Indebtedness..................  56
SECTION 12.12.   Reliance by Holders of Senior Indebtedness on Subordination Provisions....  57
SECTION 12.13.   Rights of Trustee as Holder of Senior Indebtedness; Preservation of
                     Trustee's Rights......................................................  57
SECTION 12.14.   Article Applicable to Paying Agents.......................................  57

                                           ARTICLE XIII

                                          MISCELLANEOUS

SECTION 13.1.    Trust Indenture Act Controls..............................................  57
SECTION 13.2.    Notices...................................................................  58
SECTION 13.3.    Communication by Holders with Other Holders...............................  59
SECTION 13.4.    Certificate and Opinion as to Conditions Precedent........................  59
SECTION 13.5.    Statements Required in Certificate or Opinion.............................  59
SECTION 13.6.    Severability Clause.......................................................  60
SECTION 13.7.    Rules by Trustee, Paying Agent and Registrar..............................  60
SECTION 13.8.    Legal Holidays............................................................  60
SECTION 13.9.    Governing Law.............................................................  60
SECTION 13.10.   No Recourse Against Others................................................  60
SECTION 13.11.   Successors and Assigns....................................................  61
SECTION 13.12.   Counterparts..............................................................  61
SECTION 13.13.   No Adverse Interpretation of Other Agreements.............................  61
SECTION 13.14.   Table of Contents, Headings, Etc..........................................  61
SECTION 13.15.   Benefits of the Indenture.................................................  61
</TABLE>

                                       v
<PAGE>

                    ......................................

                            Anthem, Inc. Indenture
                Certain Sections of this Indenture relating to
          Sections 310 through 318 of the Trust Indenture Act of 1939
<TABLE>
<CAPTION>
<S>                                                                              <C>
 Trust Indenture Act
       Section                                                                   Indenture Section
(S)310(a)(1)            .......................................................  2.3; 7.8
      (a)(2)            .......................................................  2.3; 7.8
      (a)(3)            .......................................................  Not Applicable
      (a)(4)            .......................................................  Not Applicable
      (a)(5)            .......................................................  Not Applicable
      (b)               .......................................................  7.8; 7.9
      (c)               .......................................................  Not Applicable
(S)311(a)               .......................................................  Not Applicable
      (b)               .......................................................  Not Applicable
      (c)               .......................................................  Not Applicable
(S)312(a)               .......................................................  2.6
      (b)               .......................................................  13.3
      (c)               .......................................................  13.3
(S)313(a)               .......................................................  7.6
      (b)(1)            .......................................................  Not Applicable
      (b)(2)            .......................................................  Not Applicable
      (c)               .......................................................  7.6
      (d)               .......................................................  7.6
(S)314(a)               .......................................................  4.3; 4.4
      (b)               .......................................................  Not Applicable
      (c)(1)            .......................................................  2.3; 13.4; 13.5
      (c)(2)            .......................................................  2.3; 13.4; 13.5
      (c)(3)            .......................................................  Not Applicable
      (d)               .......................................................  Not Applicable
      (e)               .......................................................  13.5
                        .......................................................  Not Applicable
(S)315(a)               .......................................................  7.1(b); 7.2
      (b)               .......................................................  7.2; 7.4; 13.2
      (c)               .......................................................  7.1(a); 7.2
      (d)               .......................................................  7.1(c); 7.2
      (e)               .......................................................  6.11
(S)316 (a)(1)(A)        .......................................................  6.5
      (a)(1)(B)         .......................................................  6.2; 6.4
      (a)(2)            .......................................................  Not Applicable
      (a)(last          .......................................................  2.9
         sentence)
      (b)               .......................................................  6.7
      (c)               .......................................................  1.5
(S)317(a)(1)            .......................................................  6.8
      (a)(2)            .......................................................  6.9
      (b)               .......................................................  2.5
(S)318(a)               .......................................................  13.1
      (b)               .......................................................  Not Applicable
      (c)               .......................................................  13.1
</TABLE>
-------------------

NOTE:  This reconciliation and tie shall not, for any purpose, be deemed to be a
part of the Indenture.

                                      vi
<PAGE>

         INDENTURE, dated as of ___, 2001, by and between Anthem, Inc., a
corporation duly organized and existing under the laws of the State of Indiana,
or any successor thereto (the "Company"), and [___________], [a ________ banking
corporation], as trustee (the "Trustee").

         Whereas, the Company has duly authorized the execution and delivery of
this Indenture to provide for the issuance from time to time of its unsecured
subordinated Debentures (as hereinafter defined), and to provide therefor, the
Company has duly authorized the execution and delivery of this Indenture.

         Whereas, all things necessary to make the Debentures, when duly issued
and executed by the Company and authenticated and delivered hereunder, the valid
obligations of the Company, and to make this Indenture a valid and binding
agreement of the Company, enforceable in accordance with its terms, have been
done.

         Now Therefore:

         Each of the Company and the Trustee, intending to be legally bound
hereby, agrees as follows for the benefit of the other party and for the equal
and ratable benefit of the Holders (as hereinafter defined) of the securities
issued hereunder:

                                   ARTICLE I

                  Definitions and Incorporation by Reference

SECTION 1.1.      Definitions.

         "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. When used with respect to any Person,
"control" means the power, directly or indirectly, to direct or cause the
direction of the management and policies of such Person, whether through the
ownership of voting securities, by contract or otherwise; and the terms
"controlling" and "controlled" and "under common control with" have meanings
correlative to the foregoing.

         "Board of Directors" means either the Board of Directors of the Company
or the Executive Committee of such Board or any other committee of such Board
duly authorized to act generally or in any particular respect for the Board
hereunder.

         "Board Resolution" means (i) 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, (ii) a copy of a unanimous written consent of the Board of
Directors or (iii) a certificate signed by the authorized officer or officers to
whom the Board of Directors has delegated its authority, and in each case,
delivered to the Trustee.

         "Business Day" means any day that is not a Saturday, a Sunday or day on
which banking institutions and trust companies in The City of New York are
authorized or required by law, regulation or executive order to close.
<PAGE>

         "Capital Stock" means any and all shares, interests, rights to
purchase, warrants, options, participations or other equivalents of or interests
in (however designated, whether voting or non-voting) corporate stock or similar
interests in other types of entities.

         "Common Stock" means the Common Stock, par value $0.01 per share, of
the Company.

         "Company Order" means a written request or order signed in the name of
the Company by an Officer of the Company and delivered to the Trustee.

         "Corporate Trust Office" means the principal office of the Trustee at
which at any time its corporate trust business shall be administered, which
office at the date hereof is located at ., Attention:  ., or such other address
as the Trustee may designate from time to time by notice to the Holders and the
Company, or the designated office of any successor Trustee (or such other
address as a successor Trustee may designate from time to time by notice to the
Holders and the Company).

         "Debentureholder" or "Holder" means a Person in whose name a Debenture
is registered on the Registrar's books.

         "Debentures" means any of the debentures of any series issued,
authenticated and delivered under this Indenture, as the same may now or
hereafter exist or may hereafter be amended, modified, supplemented, extended,
renewed, restated, substituted for or replaced.

         "Default" means any event which is, or after notice or passage of time,
or both, would be, an Event of Default pursuant to Section 6.1.

         "Deferral Period," with respect to any series of Debentures, means any
period during which the Company elects to extend the interest payment period on
such series of Debentures pursuant to Section 4.1(b); provided that a Deferral
Period (or any extension thereof) may not extend beyond the Stated Maturity Date
or the Redemption Date of any Debenture of such series and must end on an
Interest Payment Date or, if the Debentures are redeemed, on an Interest Payment
Date or the Redemption Date for such Debentures.

         "Designated Senior Indebtedness" means the Company's obligations under
any particular Senior Indebtedness in which the instrument creating or
evidencing the same or the assumption or guarantee thereof (or related
agreements or documents to which the Company is a party) expressly provides that
such Senior Indebtedness shall be "Designated Senior Indebtedness" for purposes
of this Indenture (provided that such instrument, agreement or other document
may place limitations and conditions on the right of such Senior Indebtedness to
exercise the rights of Designated Senior Indebtedness).

          "Exchange Act" means the Securities Exchange Act of 1934, as amended.

          "Indenture" means this indenture, as amended or supplemented from time
to time in accordance with the terms hereof, including the provisions of the TIA
that are deemed to be a part hereof.

                                      -2-
<PAGE>

         "Interest Payment Date," when used with respect to the Debentures of
any series, means the date or dates in each year on which any interest on the
Debentures of that series is paid or made available for payment.

         "Issue Date," with respect to a series of Debentures, means the date on
which the Debentures of such series are originally authenticated and delivered
under this Indenture.

         "Office" or "Agency," with respect to any Debentures, means an office
or agency of the Company maintained or designated as a place of payment for such
Debentures pursuant to Section 2.4 or, to the extent designated or required by
Section 2.4 in lieu of such office or agency, the Corporate Trust Office of the
Trustee.

         "Officer" means, with respect to any Person, the Chairman of the Board,
the Chief Executive Officer, the Chief Financial Officer, the President, any
Vice President, the Treasurer, any Assistant Treasurer, the Secretary or any
Assistant Secretary of such corporation.

         "Officer's Certificate" means a certificate signed on behalf of the
Company by the Chief Executive Officer, the Chief Financial Officer, the
President, a Vice President, the Treasurer, an Assistant Treasurer, the
Secretary or an Assistant Secretary, of the Company, that complies with the
requirements of Sections 13.4 and 13.5 and is delivered to the Trustee.

         "Opinion of Counsel" means a written opinion of legal counsel, who may
be an employee of the Company, or any other legal counsel who shall be
reasonably acceptable to the Trustee and provided that the General Counsel and
the Assistant General Counsel of the Company shall be deemed to be reasonably
acceptable to the Trustee, containing the applicable information specified in
Sections 13.4 and 13.5.

         "Paying Agent" means any Person authorized by the Company to pay the
principal of and premium, if any, and interest on the Debentures of any series
on behalf of the Company.

         "Person" means any individual, corporation, partnership, limited
liability company, joint venture, association, joint-stock company, trust,
unincorporated organization, government or any agency or political subdivision
thereof or any other entity.

         "Predecessor Debentures" of any particular Debenture means every
previous Debenture evidencing all or a portion of the same debt as that
evidenced by such particular Debenture; and for purposes of this definition, any
Debenture authenticated and delivered under Section 2.8 in exchange for or in
lieu of a mutilated, destroyed, lost or stolen Debenture shall be deemed to
evidence the same debt as the mutilated, destroyed, lost or stolen Debenture.

         "Record Date," with respect to any series of the Debentures, means the
Regular Record Date, the Special Record Date or any date set to determine the
Holders of Debentures of such series entitled to vote, consent, make a request
or exercise any other right associated with such Debentures.

                                      -3-
<PAGE>

         "Redemption Date," with respect to the Debentures of any series to be
redeemed, means the date specified for the redemption thereof in accordance with
the terms thereof and pursuant to Article 3 of this Indenture.

         "Redemption Price," with respect to the Debentures of any series to be
redeemed, means the price at which such Debentures are to be redeemed in
accordance with the terms thereof and pursuant to Article 3 of this Indenture.

         "Regular Record Date," with respect to an Interest Payment Date for the
Debentures of any series, means the date specified for the determination of
Holders of such Debentures entitled to receive the payment of interest on such
Interest Payment Date.

         "Responsible Officer" means, when used with respect to the Trustee, any
officer within the corporate trust department of the Trustee (or any successor
of the Trustee), including any vice president, any assistant vice president, any
assistant secretary, any assistant treasurer, any trust officer or any other
officer of the Trustee who customarily performs functions similar to those
performed by the Persons who at the time shall be such officers, respectively,
or to whom any corporate trust matter is referred because of such person's
knowledge of and familiarity with the particular subject and who shall have
direct responsibility for the administration of this Indenture.

         "SEC" means the Securities and Exchange Commission.

         "Securities Act" means the Securities Act of 1933, as amended.

         "Senior Indebtedness" means the principal of (and premium, if any) and
interest (including all interest accruing subsequent to the commencement of any
bankruptcy or similar proceeding, whether or not a claim for post-petition
interest is allowable as a claim in any such proceeding) on, and all fees and
other amounts payable or rent or other obligations, whether absolute or
contingent, secured or unsecured, due or to become due, outstanding on the date
of this Indenture or thereafter created, incurred or assumed in connection with
any of the following: (a) any credit or loan agreement, note, bond, debenture or
other written obligation of the Company, (b) all obligations of the Company for
money borrowed, (c) any note or similar instrument issued by the Company in
connection with the acquisition of any businesses, properties or assets of any
kind, (d) the Company's leasing real or personal property (i) under leases, if
all or a portion of the lessee's rental obligations are required to be
capitalized on the balance sheet of the lessee under generally accepted
accounting principles or (ii) under leases, participation agreements, guarantees
or similar documents entered into by the Company in connection with the leasing
of real or personal property by the Company or any of the Subsidiaries which
provides that the Company is contractually obligated to purchase or cause a
third party to purchase the leased property for a fixed price or otherwise
guarantee a residual value of leased property to the lessor or a third party,
whether or not such lease is properly classified as a operating or capital lease
in accordance with generally accepted accounting principles, (e) any interest
rate and currency swaps, caps, floors, collars, hedge agreements, forward
contracts or similar agreements or arrangements, (f) any letters of credit,
bankers' acceptances and similar facilities, including reimbursement obligations
with respect to the foregoing, (g) any deferred purchase price of property or

                                      -4-
<PAGE>

services, (h) all obligations of the type referred to in the above clauses of
another Person and any dividends of another Person, the payment of which, in
either case, the Company has assumed or guaranteed, or for which the Company is
responsible or liable, directly or indirectly, jointly or severally, as obligor,
guarantor or otherwise, or which are secured by a lien on the Company's
property, and (i) renewals, extensions, modifications, replacements,
restatements and refundings of, or any indebtedness or obligation issued in
exchange for, any such indebtedness or obligation described in clauses (a)
through (h) of this paragraph; provided, however, that "Senior Indebtedness"
shall not include (x) the Debentures, (y) any other indebtedness or obligation
if the terms of such indebtedness or obligation (or the terms of the instrument
under which or pursuant to which it is issued) expressly provide that such
indebtedness or obligation is not superior in right of payment to the Debentures
or (z) any trade accounts payable or accrued liabilities arising in the ordinary
course of business from the purchase of goods or services.

         A "series" of Debentures means all Debentures denoted as part of the
same series authorized by or pursuant to a particular Board Resolution or a
supplemental indenture.

         "Special Record Date" for the payment of any Defaulted Interest on the
Debentures of any series means the date determined pursuant to Section 2.2.

         "Stated Maturity Date," with respect to the Debentures of any series,
means the date specified for such Debentures as the date on which the principal
of such Debenture is due and payable.

         "Subsidiary" means any corporation, association, partnership, trust,
limited liability company or other business entity of which more than 50% of the
total voting power of shares of Capital Stock or other interests (including
partnership interests) entitled (without regard to the occurrence of any
contingency) to vote in the election of directors, managers, trustees or the
governing individuals or body thereof is at the time owned or controlled,
directly or indirectly, by (i) the Company, (ii) the Company and one or more
Subsidiaries, or (iii) one or more Subsidiaries.

         "TIA" means the Trust Indenture Act of 1939, as amended.

         "Trustee" means the Person named as "Trustee" in the first paragraph of
this Indenture, until a successor replaces it pursuant to the applicable
provisions of this Indenture and, thereafter, shall mean such successor, and if
at any time there is more than one such Person, "Trustee" as used with respect
to Debentures of any series shall mean the Trustee with respect to Debentures of
that series.

         "U.S. Government Obligations" means direct obligations (or certificates
representing an ownership interest in such obligations) of, or obligations
guaranteed by, the United States of America (including any agency or
instrumentality thereof) for the payment of which obligations or guarantee the
full faith and credit of the United States of America is pledged and which are
not callable at the issuer's option.

SECTION 1.2.   Other Definitions.

                                      -5-

<PAGE>

       Term                                                 Defined in Section

"Act"                   .................................         1.5
"Bankruptcy Law"        .................................         6.1
"Conversion Agent"      .................................         2.4
"Custodian"             .................................         6.1
"Defaulted Interest"    .................................         2.2
"Depository"            .................................         2.11
"Event of Default"      .................................         6.1
"Global Debenture"      .................................         2.11
"Legal Holiday"         .................................        13.8
"Notice of Default"     .................................         6.1
"Register"              .................................         2.4
"Registrar"             .................................         2.4
"Successor"             .................................         5.1

SECTION 1.3.   Incorporation by Reference of TIA.

         Whenever this Indenture refers to a provision of the TIA, such
provision is incorporated by reference in and made a part of this Indenture. The
following TIA terms used in this Indenture have the following meanings:

         "indenture securities" means the Debentures.

         "indenture security holder" means a Debentureholder or Holder.

         "indenture to be qualified" means this Indenture.

         "indenture trustee" or "institutional trustee" means the Trustee.

         "obligor" on the Debentures means the Company and any other successor
          obligor on the Debentures.

         All other terms used in this Indenture that are defined by the TIA,
defined by TIA reference to another statute or defined by SEC rule under the TIA
have the meanings assigned to them by such definitions.

SECTION 1.4.   Rules of Construction.

         Unless the context otherwise requires:

         (a)   each capitalized term has the meaning assigned to it and shall
     include the plural as well as the singular, as applicable;

         (b)   an accounting term not otherwise defined has the meaning assigned
     to it in accordance with generally accepted accounting principles in the
     United States;

         (c)   "or" is not exclusive;

                                      -6-
<PAGE>

          (d)  "including" means including, but not limited to;

          (e)  words in the singular include the plural, and words in the plural
     include the singular;

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

          (g)  references to sections of or rules under the Securities Act or
     the TIA shall be deemed to include substitute, replacement or successor
     sections or rules adopted by the SEC from time to time.

SECTION 1.5.   Acts of Holders and Holders of Debentures.

     (a)  Any request, demand, authorization, direction, notice, consent, waiver
or other action provided by this Indenture to be given or taken by Holders or by
holders of Debentures may be embodied in and evidenced by one or more
instruments of substantially similar tenor signed by such Holders or holders of
Debentures, as applicable, in person or by an 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 Holders or holders of Debentures 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 conclusive in favor of the Trustee and the Company, if made in the
manner provided in this Section.

     Without limiting the generality of this Section, unless otherwise provided
in or pursuant to this Indenture, a Holder, including a Depository that is a
Holder of a Global Debenture, may make, give or take, by a proxy, or proxies,
duly appointed in writing, any request, demand, authorization, direction,
notice, consent, waiver or other action provided in or pursuant to this
Indenture to be made, given or taken by Holders, and a Depository that is a
Holder of a Global Debenture may provide its proxy or proxies to the beneficial
owners of interests in any such Global Debenture through such Depository's
standing instructions and customary practices.

     (b)  The fact and date of the execution by any Person of any such
instrument or writing may be proved in any manner which the Trustee deems
sufficient.

     (c)  The ownership of Debentures shall be proved by the Register.

     (d)  Any Act of the Holder of any Debenture shall bind every future Holder
of the same Debenture and the Holder of every Debenture issued upon the 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 Debenture.

                                      -7-
<PAGE>

          (e)  If the Company solicits from the Holders any request, demand,
authorization, direction, notice, consent, waiver or other action, the Company
may, at its option, by or pursuant to a Board Resolution, fix in advance a
Record Date for the determination of Holders entitled to give such Act, but the
Company shall have no obligation to do so. If such a Record Date is fixed, such
request, demand, authorization, direction, notice, consent, waiver or other
action may be given before or after such Record Date, but only Holders of record
at the close of business on such Record Date shall be deemed to be Holders for
the purposes of determining whether Holders of the requisite proportion of
outstanding Debentures have authorized or agreed or consented to such Act, and
for that purpose the outstanding Debentures shall be computed as of such Record
Date.

                                  ARTICLE II

                                The Debentures

SECTION 2.1.   Amount Unlimited; Issuable in Series.

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

          The Debentures may be issued in one or more series in an amount not to
exceed the aggregate principal amount of Debentures of that series from time to
time authorized by or pursuant to a Board Resolution, or established pursuant to
one or more indentures supplemental hereto, prior to the initial issuance of
Debentures of a particular series.

          With respect to any Debentures of each series to be authenticated and
delivered hereunder, there shall be established in or pursuant to a Board
Resolution, and set forth in an Officer's Certificate, or established in one or
more indentures supplemental hereto, prior to the issuance of Debentures of such
series:

          (a)  the title of the Debentures of the series (which shall
     distinguish the Debentures of the series from all other Debentures);

          (b)  any limit upon the aggregate principal amount of the Debentures
     of that series which may be authenticated and delivered under this
     Indenture (except for Debentures authenticated and delivered upon
     registration of transfer of, or in exchange for, or in lieu of, other
     Debentures of that series);

          (c)  the Stated Maturity Date or Dates, which may be serial, and the
     Company's option, if any, to change the Stated Maturity Date or Dates;

          (d)  the rate or rates (which may be fixed or variable) at which the
     Debentures of the series shall bear interest or the manner of calculation
     of such rate or rates, if any;

          (e)  the basis upon which interest shall be computed if other than a
     360-day year composed of twelve 30-day months;

                                      -8-
<PAGE>

          (f) the date or dates from which such interest shall accrue, the
     Interest Payment Dates on which such interest will be payable or the manner
     of determination and frequency of such Interest Payment Dates and the
     Regular Record Dates therefor;

          (g) the right, if any, to extend the interest payment periods and the
     duration of any such Deferral Period, including the maximum consecutive
     period during which interest payment periods may be extended;

          (h) Issue Date or Dates;

          (i) authorized denominations;

          (j) the place or places for the payment of principal and premium, if
     any, and interest;

          (k) the date or dates on which or the period or periods within which,
     the price or prices at which, and the terms and conditions upon which,
     Debentures of the series may be redeemed, in whole or in part, at the
     option of the Company;

          (l) the obligation, if any, of the Company to redeem or purchase
     Debentures of the series pursuant to any sinking fund or analogous
     provisions (including payments made in cash in anticipation of future
     sinking fund obligations) or at the option of a Holder and the date or
     dates on which or the period or periods within which, the price or prices
     at which, and the terms and conditions upon which, Debentures of the series
     shall be redeemed or purchased, in whole or in part, pursuant to such
     obligation;

          (m) the form of the Debentures of the series, including the form of
     the Certificate of Authentication for such series;

          (n) the right or obligation of any Holder or the Company to convert or
     exchange any Debenture into other securities of the Company and the terms
     and conditions of any such conversion or exchange and, if so provided, the
     terms and conditions upon which such conversion or exchange will be
     effected, including, the conversion or exchange price, the conversion or
     exchange date(s) or period(s), provisions as to whether conversion or
     exchange will be at the option of the Holder or the Company, the events
     requiring adjustment of the conversion or exchange price and provisions
     affecting conversion or exchange in the event of redemption of the
     Debenture of any series and any deletions from or modifications or
     additions to this Indenture to permit or to facilitate the issuance of such
     convertible or exchangeable Debentures or the administration thereof;

          (o)  whether the Debentures are issuable as a Global Debenture and, in
     such case, the identity of the Depository for such series;

          (p)  any and all other terms with respect to such series (which terms
     shall not be inconsistent with the terms of this Indenture); and

          (q)  any authenticating or paying agents, transfer agents or
     registrars or any other agents with respect to the Debentures of such
     series.

                                      -9-
<PAGE>

         The Debentures shall be subordinated in right of payment to Senior
Indebtedness as provided in Article XII.

         The Debentures of any series and the Trustee's Certificate of
Authentication to be borne by such Debentures shall be substantially of the
tenor and purport as set forth in one or more indentures supplemental hereto or
as provided in a Board Resolution and as set forth in an Officer's Certificate,
and may have such letters, numbers or other marks of identification or
designation and such legends or endorsements printed, lithographed or engraved
thereon as the Company may deem appropriate and as are not inconsistent with the
provisions of this Indenture, or as may be required to comply with any law or
with any rule or regulation made pursuant thereto or with any rule or regulation
of any stock exchange on which Debentures of that series may be listed, or to
conform to usage, all as may be determined by the Officers executing such
Debentures, as evidenced by their execution of such Debentures.

         All Debentures of any one series shall be substantially identical
except as may otherwise be provided by the Company in or pursuant to the Board
Resolution and set forth in the Officer's Certificate or in any indenture or
indentures supplemental hereto pertaining to such series of Debentures. The
terms of the Debentures of any series may provide, but are not so limited that
the Debentures shall be authenticated and delivered by the Trustee on original
issue from time to time upon written order of persons designated in the
Officer's Certificate or supplemental indenture (telephonic instructions to be
promptly confirmed in writing by such person) and that such persons are
authorized to determine, consistent with such Officer's Certificate or any
applicable supplemental indenture, such terms and conditions of the Debentures
of such series as are specified in such Officer's Certificate or supplemental
indenture. All Debentures of any one series need not be issued at the same time
and, unless otherwise so provided by the Company, a series may be reopened for
issuances of additional Debentures of such series or to establish additional
terms of such series of Debentures.

         If any of the terms of the Debentures of any series shall be
established by action taken by or pursuant to a Board Resolution, the Board
Resolution shall be delivered to the Trustee at or prior to the delivery of the
Officer's Certificate setting forth the terms of such series.

SECTION 2.2.      Payment of Principal and Interest.

         Unless otherwise specified pursuant to Section 2.1(e), interest on the
Debentures shall be computed on the basis of a 360-day year composed of twelve
30-day months.

         Unless otherwise provided with respect to a series of Debentures,

         (a)  the principal and Redemption Price of and interest on each
     Debenture shall be payable in such coin or currency of the United States of
     America as at the time of payment is legal tender for the payment of public
     and private debts;

         (b)  the principal and Redemption Price of any Debenture and interest
     payable on the Stated Maturity Date (if other than an Interest Payment
     Date) or Redemption Date

                                      -10-
<PAGE>

     shall be payable upon surrender of such Debenture at the Office or Agency
     of any Paying Agent therefor; and

         (c)  interest on any Debenture shall be paid on each Interest Payment
     Date therefor, such interest to be payable by check mailed to the address
     of the Person entitled thereto as such address appears on the Register;
     provided however, that (i) at the written request of any Holder of at least
     $100,000,000 aggregate principal amount of Debentures received by the
     Registrar not later than the Regular Record Date for such Interest Payment
     Date, interest accrued on such Debentures will be payable by wire transfer
     within the continental United States in immediately available funds to the
     bank account number of such Holder specified in such request and entered on
     the Register by the Registrar and (ii) payments made in respect of Global
     Debentures shall be made in immediately available funds to the Depository.

         Except as specified pursuant to Section 2.1 or Section 4.1(b), interest
on any Debenture 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
Debenture (or one or more Predecessor Debentures) is registered at the close of
business on the Regular Record Date for such interest. Any interest on any
Debenture 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 (i) and (ii) below:

                 (i)    The Company may elect to make payment of any Defaulted
         Interest to the Persons in whose names the Debentures (or their
         respective Predecessor Debentures) 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, not less than 25 Business Days prior to the date of the proposed
         payment, notify the Trustee and the Paying Agent in writing of the
         amount of Defaulted Interest proposed to be paid on each Debenture and
         the date of the proposed payment, and at the same time the Company
         shall deposit with the Paying Agent 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 Paying Agent in
         the Paying Agent's sole discretion for such deposit prior to the date
         of the proposed payment, such money when deposited to be held in trust
         for the benefit of the Persons entitled to such Defaulted Interest as
         provided in this clause. The Special Record Date for the payment of
         such Defaulted Interest shall be the close of business not more than 15
         nor less than 10 days prior to the date of the proposed payment. The
         Trustee shall, in the name and at the expense of the Company, cause
         notice of the proposed payment of such Defaulted Interest and the
         Special Record Date therefor to be given to the Holders thereof, 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 given, such Defaulted Interest shall be paid to
         the Persons in whose names the Debentures (or their respective
         Predecessor Debentures) are registered at the close of business on such
         Special Record Date and shall no longer be payable pursuant to the
         following clause (ii).

                                      -11-
<PAGE>

                 (ii)   The Company may make payment of any Defaulted Interest
         on the Debentures in any other lawful manner not inconsistent with the
         requirements of any securities exchange on which such Debentures may be
         listed, and upon such notice as may be required by such exchange, if,
         after notice given by the Company to the Trustee and the Paying Agent
         of the proposed payment pursuant to this clause, such manner of payment
         shall be deemed practicable by the Paying Agent.

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

         If any convertible Debenture of any series is converted after any
Regular Record Date and on or prior to the next succeeding Interest Payment Date
(other than any Debenture with respect to which the Stated Maturity Date is
prior to such Interest Payment Date), interest that is due 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 Debenture 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 Debenture
that is converted, interest shall not be payable if the Regular Record Date is
after the date of conversion of such Debenture.

SECTION 2.3.      Execution, Authentication and Delivery.

         (a)     The Debentures shall be executed on behalf of the Company by
its Chief Executive Officer, its Chief Financial Officer, its President or one
of its Vice Presidents, its Treasurer or one of its Assistant Treasurers. The
signature of any such Officer on the Debentures may be manual or facsimile.

         (b)     Debentures 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 Debentures or
did not hold such offices at the date of such Debentures.

         (c)     No Debenture shall be entitled to any benefit under this
Indenture or be valid or obligatory for any purpose unless there appears on such
Debenture a Certificate of Authentication duly executed by the Trustee by manual
signature of an authorized signatory, and such Certificate of Authentication
upon any Debenture shall be conclusive evidence, and the only evidence, that
such Debenture has been duly authenticated and made available for delivery
hereunder.

         (d)     The Trustee shall authenticate and deliver Debentures of a
series, for original issue, at one time or from time to time in accordance with
the Company Order referred to below, upon receipt by the Trustee of:

                 (i)    a Board Resolution as required by Section 2.1;

                                      -12-
<PAGE>

                 (ii)   a Company Order requesting the authentication and
delivery of such Debentures;

                 (iii)  an Officer's Certificate or, unless previously
delivered, a supplemental indenture hereto setting forth the form of such
Debentures and, except as set forth in a Board Resolution, establishing the
terms thereof;

                 (iv)   such Debentures, executed on behalf of the Company in
accordance with clause (a) of this Section;

                 (v)    an Opinion of Counsel to the effect that:

                        (1)    the form or forms and the terms of such
                 Debentures have been duly authorized by the Company and have
                 been established in conformity with the provisions of this
                 Indenture;

                        (2)    such Debentures, when authenticated and delivered
                 by the Trustee and issued and delivered by the Company in the
                 manner and subject to any conditions specified in such Opinion
                 of Counsel, will have been duly issued under this Indenture and
                 will constitute valid and legally binding obligations of the
                 Company, entitled to the benefits provided by this Indenture,
                 and enforceable in accordance with their terms, subject, as to
                 enforcement to laws relating to or affecting generally the
                 enforcement of creditors' rights, including bankruptcy and
                 insolvency laws, and to general principles of equity
                 (regardless of whether such enforceability is considered in a
                 proceeding in equity or at law);

                        (3)    any supplemental indenture referred to in clause
                 (iii) above has been duly authorized, executed and delivered by
                 the Company and is a valid instrument legally binding upon the
                 Company, enforceable in accordance with its terms, subject as
                 to enforcement to laws relating to or affecting generally the
                 enforcement of creditors' rights, including, bankruptcy and
                 insolvency laws, and to general principles of equity
                 (regardless of whether such enforceability is considered in a
                 proceeding in equity or at law);

                        (4)    all consents, approvals and orders of any
                 commission, governmental authority or agency required in
                 connection with the issuance and delivery of such Debentures
                 have been obtained; and

                 (vi)   an Officer's Certificate delivered in accordance with
         13.4 and certifying that no Default or Event of Default has occurred
         and is continuing.

         The Trustee shall have the right to decline to authenticate and deliver
any Debentures under this Section if the Trustee, being advised by counsel,
determines that such action may not lawfully be taken or if the Trustee in good
faith shall determine that such action would expose the Trustee to personal
liability to existing Holders.

                                      -13-
<PAGE>

         (e)   The Trustee shall act as the initial authenticating agent.
Thereafter, the Trustee may appoint an authenticating agent. Each authenticating
agent shall be acceptable to the Company and, except as provided in or pursuant
to this Indenture, shall at all times be a corporation that would be permitted
by the TIA to act as trustee under an indenture qualified under the TIA, is
authorized under applicable law and by its charter to act as an authenticating
agent and has a combined capital and surplus (computed in accordance with
Section 310(a)(2) of the TIA) of at least $50,000,000. If at any time an
authenticating agent shall cease to be eligible in accordance with the
provisions of this Section, it shall resign immediately in the manner and with
the effect specified in this Section. An authenticating agent may authenticate
Debentures whenever the Trustee may do so. Each reference in this Indenture to
authentication by the Trustee includes authentication by an authenticating
agent. The Company shall pay any authenticating agent appointed by the Trustee
reasonable compensation for its services. The provisions set forth in Sections
7.2, 7.3 and 7.7 shall be applicable to any authenticating agent.

         (f)   If all the Debentures of any series are not to be issued at one
time, it shall not be necessary to deliver an Opinion of Counsel and an
Officer's Certificate at the time of issuance of each Debenture, but such
opinion and certificate, with appropriate modifications, shall be delivered at
or before the time of issuance of the first Debenture of such series. After any
such first delivery, any separate request by the Company that the Trustee
authenticate Debentures of such series for original issue will be deemed to be a
certification by the Company that all conditions precedent provided for in this
Indenture relating to authentication and delivery of such Debentures continue to
have been complied with.

SECTION 2.4.      Registrar and Paying and Conversion Agents.

         The Company shall maintain or cause to be maintained, in The City of
New York, an Office or Agency where the Debentures may be presented for
registration of transfer or for exchange ("Registrar"), a Paying Agent at whose
Office the Debentures may be presented or surrendered for payment, a conversion
agent at whose Office the Debentures may be presented and surrendered in the
event of a conversion or exchange ("Conversion Agent"), and an Office or Agency
where notices and demands to or upon the Company in respect of the Debentures
and this Indenture may be served. The Registrar shall keep a register (the
"Register") of the Debentures and of their transfer and exchange. The Company
may have one or more co-Registrars and one or more additional Paying Agents and
Conversion Agents. The term Registrar includes any additional registrar, the
term Paying Agent includes any additional paying agent and the term Conversion
Agent includes any additional conversion agent.

         Unless otherwise specified in or pursuant to this Indenture or the
Debentures, the Trustee shall be the initial Registrar and Paying Agent for each
series of Debentures. The Company shall have the right to remove and replace
with or without cause from time to time the Registrar or Paying Agent for any
series of Debentures; provided that no such removal or replacement shall be
effective until a successor Registrar or Paying Agent, as the case may be, with
respect to such series of Debentures shall have been appointed by the Company
and shall have accepted such appointment by the Company. In the event that the
Trustee shall not be or shall cease to be Registrar with respect to a series of

                                      -14-
<PAGE>

Debentures, it shall have the right to examine the Register for such series at
all reasonable times. There shall be only one Register for each series of
Debentures.

         The Company shall enter into an appropriate agency agreement with any
Registrar, Paying Agent, Conversion Agent or co-Registrar (if not the Company or
the Trustee or an Affiliate of the Trustee). The agreement shall implement the
provisions of this Indenture that relate to such agent. The Company shall give
prompt written notice to the Trustee and to the Holders of any change of
location of the Office or Agency of such Registrar, Paying Agent, Conversion
Agent or co-Registrar. If at any time the Company shall fail to maintain or
cause to be maintained 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 address of the Trustee set
forth in Section 12.2 hereof. The Company shall notify the Trustee of the name
and address of any such agent. If the Company fails to maintain a Registrar,
Paying Agent, Conversion Agent or agent for service of notices or demands, the
Trustee shall act as such and shall be entitled to appropriate compensation
therefor pursuant to Section 7.7. The Company or any Affiliate of the Company
may act as Paying Agent, Registrar, Conversion Agent or co-Registrar or agent
for service of notices and demands.

         The Company may also from time to time designate one or more other
Offices or Agencies where the Debentures may be presented or surrendered for any
or all such purposes and may from time to time rescind such designations. The
Company will give prompt written notice to the Trustee and to the Holders of any
such designation or rescission and of any change in location of any such other
Office or Agency.

SECTION 2.5.      Paying Agent to Hold Money in Trust.

         Except as otherwise provided herein, prior to 10:00 a.m. New York City
time on each due date of the principal of and premium, if any, and interest on
any Debenture, the Company shall deposit with the Paying Agent a sum of money
sufficient to pay such principal, premium, if any, and interest so becoming due.
The Company shall require each Paying Agent (other than the Trustee or the
Company) to agree in writing that such Paying Agent shall (i) hold in trust for
the benefit of Holders or the Trustee all money held by the Paying Agent for the
payment of principal of and premium, if any, and interest on the Debentures and
shall notify the Trustee of any default by the Company in making any such
payment; and (ii) at any time during the continuance of any such default, upon
the request of the Trustee, pay to the Trustee all money so held in trust and
account for any money disbursed by it. The Company at any time may require the
Paying Agent to pay all money held by it to the Trustee and to account for any
money disbursed by it. Upon doing so, the Paying Agent (if other than the
Company) shall have no further liability for the money so paid over to the
Trustee. If the Company, a Subsidiary or an Affiliate of either of them acts as
Paying Agent, it shall segregate the money held by it as Paying Agent and hold
it as a separate trust fund for the benefit of the Holders.

SECTION 2.6.      Debentureholder Lists.

         The Trustee shall preserve, in as current a form as is reasonably
practicable, the most recent list available to it of the names and addresses of
Debentureholders and shall

                                      -15-
<PAGE>

otherwise comply with TIA Section 312. If the Trustee is not the Registrar, the
Company shall cause to be furnished to the Trustee on or before the Record Date
for each Interest Payment Date and at such other times as the Trustee may
request in writing, within five Business Days of such request, a list, in such
form and as of such date as the Trustee may reasonably require, of the names and
addresses of Debentureholders.

SECTION 2.7.      Transfer and Exchange.

         When Debentures are presented to the Registrar or a co-Registrar with a
request to register the transfer thereof or to exchange them for an equal
principal amount of Debentures of the same series of other authorized
denominations, the Registrar shall register the transfer or make the exchange as
requested if its reasonable requirements for such transactions are met. To
permit registrations of transfer and exchanges, the Company shall execute and
the Trustee shall authenticate Debentures, all at the Registrar's request.

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

         The Company shall not require payment of a service charge for any
registration of transfer or exchange of Debentures, but the Company may require
payment of a sum sufficient to pay all taxes, assessments or other governmental
charges that may be imposed in connection with the registration of the transfer
or exchange of Debentures from the Debentureholder requesting such transfer or
exchange (other than any exchange of a temporary Debenture for a definitive
Debenture not involving any change in ownership).

         The Company shall not be required to make, and the Registrar need not
register, transfers or exchanges of (a) any Debenture for a period beginning at
the opening of business 15 days before the mailing or first publication of a
notice of redemption of Debentures of such series to be redeemed and ending at
the close of business on the day of such mailing or (b) any Debenture selected,
called or being called for redemption, except, in the case of any Debenture to
be redeemed in part, the portion thereof not to be redeemed.

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

         Prior to due presentment for the registration of a transfer of any
Debenture, the Company, the Trustee, the Registrar and any other agent may deem
and treat the Person in whose name any Debenture is registered as the absolute
owner of such Debenture for the purpose of receiving payment of principal of and
premium, if any, and interest on such Debentures and for all other purposes, and
none of the Company, the Trustee, the Registrar or any other agent shall be
affected by notice to the contrary.

                                      -16-
<PAGE>

         Each Debentureholder agrees to indemnify the Company, the Registrar and
the Trustee against any liability that may result from the transfer or exchange
of such Holder's Debenture in violation of any provision of this Indenture
and/or applicable United States federal or state securities law.

SECTION 2.8.      Replacement Debentures.

         If (a) any mutilated Debenture is surrendered to the Company or the
Trustee, or (b) the Company and the Trustee receive evidence to their
satisfaction of the destruction, loss or theft of any Debenture, and there is
delivered to the Company and the Trustee such Debenture or indemnity as may
reasonably be required by them to save each of them harmless, then, in the
absence of notice to the Company or the Trustee that such Debenture has been
acquired by a bona fide purchaser, the Company shall execute in exchange for any
such mutilated Debenture, or in lieu of any such destroyed, lost or stolen
Debenture, a new Debenture of the same series and of like tenor and principal
amount, bearing a number not contemporaneously outstanding, and the Trustee
shall authenticate and make such new Debenture available for delivery.

         In case any such mutilated, destroyed, lost or stolen Debenture has
become or is about to become due and payable, or is about to be redeemed by the
Company pursuant to Article 3, the Company in its discretion may, instead of
issuing a new Debenture, pay or purchase such Debenture, as the case may be.

         Upon the issuance of any new Debentures under this Section, the Company
or the Trustee 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 reasonable fees and expenses of the Trustee) in
connection therewith.

         Every new Debenture issued pursuant to this Section in lieu of any
mutilated, destroyed, lost or stolen Debenture shall constitute an original
additional contractual obligation of the Company (whether or not the mutilated,
destroyed, lost or stolen Debenture shall be at any time enforceable) and shall
be entitled to all benefits of this Indenture equally and ratably with any and
all other Debentures 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 Debentures.

SECTION 2.9.      Outstanding Debentures; Determinations of Holders' Action.

         Debentures outstanding at any time are all the Debentures authenticated
by the Trustee except for those canceled by it, those delivered to it for
cancellation, those mutilated, destroyed, lost or stolen Debentures referred to
in Section 2.8, those redeemed by the Company pursuant to Article 3, and those
described in this Section as not outstanding. A Debenture does not cease to be
outstanding because the Company or a Subsidiary or Affiliate thereof holds the
Debenture; provided, however, that in determining whether the Holders of the
requisite principal amount of Debentures have given or concurred in any request,
demand, authorization, direction, notice, consent or

                                      -17-
<PAGE>

waiver hereunder, Debentures owned by the Company or a Subsidiary or Affiliate
shall be disregarded and deemed not to be outstanding.

         Subject to the foregoing, only Debentures outstanding at the time of
such determination shall be considered in any such determination (including
determinations pursuant to Articles 3, 6 and 9).

         If a Debenture is replaced pursuant to Section 2.8, it ceases to be
outstanding unless the Trustee receives proof reasonably satisfactory to it that
the replaced Debenture is held by a bona fide purchaser.

         If the principal amount of any Debenture is paid under Section 4.1, it
ceases to be outstanding and interest on such Debenture shall cease to accrue.

         If the Paying Agent (other than the Company) holds, in accordance with
this Indenture, at the Stated Maturity Date or on a Redemption Date, money
sufficient to pay all of the principal, premium, if any, and interest on the
Debentures payable on that date, then immediately on the Stated Maturity Date or
such Redemption Date, as the case may be, such Debentures shall cease to be
outstanding, and interest, if any, on such Debentures shall cease to accrue.

SECTION 2.10.     Temporary Debentures.

         The Company may execute temporary Debentures, and upon the Company's
Order, the Trustee shall authenticate and make such temporary Debentures
available for delivery. Temporary Debentures shall be printed, lithographed,
typewritten, mimeographed or otherwise produced, in any authorized denomination,
in the same series and principal amount and of like tenor as the definitive
Debentures in lieu of which they are issued and with such appropriate
insertions, omissions, substitutions and other variations as the Officers of the
Company executing such Debentures may determine, as conclusively evidenced by
their execution of such Debentures. Such temporary Debentures may be in global
form.

         Except in the case of temporary Debentures in global form, which shall
be exchanged in accordance with the provisions thereof, after the preparation of
definitive Debentures, the temporary Debentures shall be exchangeable for
definitive Debentures of the same series upon surrender of the temporary
Debentures at the Office or Agency of the Company designated for such purpose
pursuant to Section 2.4, without charge to the Holders thereof. Upon surrender
for cancellation of any one or more temporary Debentures, the Company shall
execute a like principal amount of definitive Debentures of the same series of
authorized denominations, and the Trustee, upon receipt of a Company Order,
shall authenticate and make such Debentures available for delivery in exchange
therefor. Until so exchanged, the temporary Debentures shall in all respects be
entitled to the same benefits under this Indenture as definitive Debentures.

SECTION 2.11.     Book-Entry System.

         In order to utilize a book-entry-only system for all or any portion of
the Debentures of any series, all or a portion of the Debentures of any series
may be issued in

                                      -18-
<PAGE>

the form of one or more fully registered Debentures of the same series for the
aggregate principal amount of such Debentures (a "Global Debenture"), which
Global Debenture shall be registered in the name of the depository (the
"Depository") selected by the Company or in the name of such Depository's
nominee. The Company initially appoints The Depository Trust Company ("DTC") to
act as Depository with respect to the Global Debentures. The Trustee is
authorized to enter into a letter of representation with DTC on a form provided
to the Trustee by the Company and to act in accordance with such letter. Each
Global Debenture shall be delivered by the Trustee to the Depository or pursuant
to the Depository's instruction and shall bear a legend substantially to the
following effect:

         "THIS DEBENTURE IS A GLOBAL DEBENTURE WITHIN THE MEANING OF THE
INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE
DEPOSITORY OR A NOMINEE OF THE DEPOSITORY. THIS DEBENTURE IS EXCHANGEABLE FOR
DEBENTURES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITORY OR ITS
NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND NO
TRANSFER OF THIS DEBENTURE (OTHER THAN A TRANSFER OF THIS DEBENTURE AS A WHOLE
BY THE DEPOSITORY TO A NOMINEE OF THE DEPOSITORY OR BY A NOMINEE OF THE
DEPOSITORY TO THE DEPOSITORY OR ANOTHER NOMINEE OF THE DEPOSITORY) MAY BE
REGISTERED EXCEPT IN LIMITED CIRCUMSTANCES."

         Notwithstanding any other provision of this Section or of Section 2.7,
a Global Debenture may be transferred in whole but not in part and in the manner
provided in Section 2.7, only by a nominee of the Depository for such series, or
by the Depository or any such nominee of a successor Depository for such series
selected or approved by the Company or to a nominee of such successor
Depository.

         If (a) at any time the Depository for Global Debentures of any series
of Debentures notifies the Company that it is unwilling or unable to continue as
Depository for such Global Debentures or if at any time the Depository for such
Global Debentures shall no longer be a clearing agency registered or in good
standing under the Exchange Act or other applicable statute or regulation, and a
successor Depository for such Global Debentures is not appointed by the Company
within 90 days after the Company receives such notice or becomes aware of such
condition, as the case may be, or (b) the Company determines in its sole
discretion that the Debentures of any series shall no longer be represented by
one or more Global Debentures and delivers to the Trustee an Officer's
Certificate evidencing such determination, then the provisions of this Section
shall no longer apply to the Debentures of such series. In such event, the
Company will execute and the Trustee, upon receipt of an Officer's Certificate
evidencing such determination by the Company, will authenticate and deliver
Debentures of such series and of like tenor in definitive registered form, in
authorized denominations, and in aggregate principal amount equal to the
principal amount of the Global Debentures of such series in exchange for such
Global Debentures. Upon the exchange of Global Debentures for such Debentures in
definitive registered form without coupons, in authorized denominations, the
Global Debentures shall be canceled by the Trustee. Such Debentures in
definitive registered form issued in exchange for Global Debentures pursuant to
this Section shall be registered in such names and in such authorized
denominations as the Depository pursuant to instructions from its direct or
indirect participants or otherwise, shall instruct

                                      -19-
<PAGE>

the Trustee. The Trustee shall deliver such Debentures to the Persons in whose
names such Debentures are so registered.

      Except as provided above or as provided in any supplemental indenture,
owners of beneficial interests in a Global Debenture shall not be entitled to
receive physical delivery of Debentures in definitive form and will not be
considered the Holders thereof for any purpose under this Indenture.

      Members of or participants in the Depository shall have no rights under
this Indenture with respect to any Global Debenture held on their behalf by the
Depository, and such Depository or its nominee, as the case may be, may be
treated by the Company, the Trustee, and any agent of the Company or the Trustee
as the Holder of such Global Debentures for all purposes whatsoever.
Notwithstanding the foregoing, nothing herein shall prevent the Company, the
Trustee, or any agent of the Company or the Trustee, from giving effect to any
written certification, proxy or other authorization furnished by the Depository
or impair, as between the Depository and its members or participants, the
operation of customary practices governing exercise of the rights of a Holder of
any Debenture, including but not limited to the granting of proxies or other
authorization of participants to give or take any request, demand,
authorization, direction, notice, consent, waiver or other action which a Holder
is entitled to give or take under this Indenture.

SECTION 2.12. Cancellation.

      All Debentures surrendered for payment, redemption, registration of
transfer, 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 the Trustee. The Company may at any
time deliver to the Trustee for cancellation any Debentures previously
authenticated and made available for delivery hereunder which the Company may
have acquired in any manner whatsoever, and all Debentures so delivered shall be
promptly canceled by the Trustee. The Company may not reissue or issue new
Debentures to replace Debentures it has paid or delivered to the Trustee for
cancellation. No Debentures shall be authenticated in lieu of or in exchange for
any Debentures canceled as provided in this Section, except as expressly
permitted by this Indenture. All canceled Debentures held by the Trustee shall
be disposed of by the Trustee in accordance with its customary procedures, and
the Trustee shall upon written request deliver a certificate to the Company of
such disposition.

SECTION 2.13. CUSIP Numbers.

      The Company in issuing the Debentures 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 Debentures or as contained in any notice of a redemption and that
reliance may be placed only on the other identification numbers printed on the
Debentures, and any such redemption shall not be affected by any defect in or
omission of such numbers. The Company will promptly notify the Trustee of any
change in the CUSIP numbers.

                                      -20-
<PAGE>

SECTION 2.14. Record Date.

      The Record Date for purposes of determining the identity of
Debentureholders entitled to vote or consent to any action by vote or consent
authorized or permitted under this Indenture shall be determined as provided for
in TIA Section 316(c).

                                  ARTICLE III

                                  REDEMPTION

SECTION 3.1.  Redemption; Notice to Trustee.

      (a)    The Company may redeem the Debentures of any series issued
hereunder on and after the dates and in accordance with the terms established
for such series pursuant to Section 2.1.

      (b)    If any or all of the Debentures are to be redeemed pursuant to this
Section, the Company shall deliver to the Trustee no more than 60 and no less
than 45 days prior to the Redemption Date a Company Order specifying the series
and principal amount of Debentures to be redeemed and the Redemption Date,
Redemption Price and any of the other information to be provided pursuant to
Section 3.3 for such Debentures. Such Company Order shall be accompanied by a
Board Resolution authorizing such redemption.

SECTION 3.2.  Selection of Debentures to Be Redeemed.

      If less than all the outstanding Debentures of a series are to be redeemed
at any time, the Trustee shall select the Debentures of such series to be
redeemed by lot or by any other method the Trustee considers fair and
appropriate. Such method of redemption shall be in compliance with the
requirements of the principal national securities exchange, if any, on which the
Debentures are listed. The Trustee shall make the selection at least 30 but not
more than 60 days before the Redemption Date from outstanding Debentures of such
series not previously called for redemption. The Trustee shall notify the
Company promptly in writing of the Debentures or portions of Debentures to be
redeemed and, in the case of any Debentures selected for partial redemption, the
principal amount thereof to be redeemed. Provisions of this Indenture that apply
to Debentures called for redemption also apply to portions of Debentures called
for redemption.

SECTION 3.3.  Notice of Redemption.

      At least 30 days but not more than 60 days before the Redemption Date,
the Trustee, in the Company's name and at the Company's expense, shall mail or
cause to be mailed a notice of redemption by first-class mail, postage prepaid,
to each Holder of Debentures to be redeemed at such Holder's last address as it
appears in the Register.

                                      -21-
<PAGE>

      The notice of redemption shall identify the Debentures to be redeemed, the
provision of the Debentures or this Indenture pursuant to which the Debentures
called for redemption are being redeemed and shall state:

      (a)  the Redemption Date;

      (b)  the Redemption Price;

      (c)  the name and address of the Paying Agent;

      (d)  that payment of the Redemption Price of Debentures called for
   redemption will be made only upon surrender of such Debentures to the Paying
   Agent;

      (e)  if any Debenture is being redeemed in part, the portion of the
   principal amount of such Debenture to be redeemed and that, after the
   Redemption Date, upon surrender of such Debenture, a new Debenture or
   Debentures in principal amount equal to the unredeemed portion shall be
   issued upon cancellation of the original Debenture;

      (f)  that, unless the Company defaults in paying the Redemption Price of
   the Debentures called for redemption, including accrued interest thereon to
   the Redemption Date, interest will cease to accrue on such Debentures on and
   after the Redemption Date;

      (g)  that the redemption is for a sinking fund, if such is the case;

      (h)  in the case of Debentures of any series that are convertible or
   exchangeable into Capital Stock, the conversion or exchange price or rate,
   the date or dates on which or the period or periods during which the right to
   convert or exchange the principal of the Debentures of such series to be
   redeemed will commence or terminate and the place or places where such
   Debentures may be surrendered for conversion or exchange; and

      (i)  the CUSIP numbers, if any.

      Any notice of redemption given in the manner provided herein shall be
conclusively presumed to have been given, whether or not such notice is actually
received. Failure to mail any notice or defect in the mailed notice or the
mailing thereof in respect of any Debenture shall not affect the validity of the
redemption of any other Debenture.

SECTION 3.4.  Effect of Notice of Redemption.

      After notice of redemption has been given, Debentures called for
redemption shall become due and payable on the Redemption Date at the Redemption
Price and from and after the Redemption Date (unless the Company shall default
in the payment of the Redemption Price and accrued interest), such Debentures
shall cease to bear interest. Upon the later of the Redemption Date and the date
such Debentures are surrendered to the Paying Agent, such Debentures shall be
paid at the Redemption Price, plus accrued

                                      -22-
<PAGE>

interest to the Redemption Date, provided that installments of interest on
Debentures with an Interest Payment Date which is on or prior to the Redemption
Date shall be payable to the Holders of such Debentures, registered as such at
the close of business on the Regular Record Dates therefor according to their
terms and provisions.

SECTION 3.5.  Deposit of Redemption Price.

      Prior to 10:00 a.m. New York City time on the Redemption Date, the Company
shall deposit with the Paying Agent (or if the Company or an Affiliate is the
Paying Agent, shall segregate and hold in trust or cause such Affiliate to
segregate and hold in trust) money sufficient to pay the Redemption Price of,
and accrued interest on, all Debentures to be redeemed on that Redemption Date.
The Paying Agent shall return to the Company any money in excess of the amount
sufficient to pay the Redemption Price of, and accrued interest on, all
Debentures to be redeemed and any interest accrued on the amount deposited
pursuant to this Section.

SECTION 3.6.  Debentures Redeemed in Part.

      Upon surrender of a Debenture that is redeemed in part, the Company shall
issue and, upon the Company's written request, the Trustee shall authenticate
for the Holder a new Debenture of the same series and in a principal amount
equal to the unredeemed portion of such Debenture.

                                  ARTICLE IV

                                   COVENANTS

SECTION 4.1.  Payment of Principal, Premium and Interest.

      (a)    The Company shall pay or cause to be paid the principal of and
premium, if any, and interest (including interest accruing during any Deferral
Period and/or on or after the filing of a petition in bankruptcy or
reorganization relating to the Company, whether or not a claim for post-filing
interest is allowed in such proceeding) on the Debentures on or prior to the
dates and in the manner provided in such Debentures or pursuant to this
Indenture. An installment of principal, premium, if any, or interest shall be
considered paid on the applicable due date if on such date the Trustee or the
Paying Agent holds, in accordance with this Indenture, money sufficient to pay
all of such installment then due. With respect to any Debenture, the Company
shall pay interest on overdue principal and interest on overdue installments of
interest (including interest accruing during any Deferral Period and/or on or
after the filing of a petition in bankruptcy or reorganization relating to the
Company, whether or not a claim for post-filing interest is allowed in such
proceeding), to the extent lawful, at the rate accruing on such Debenture,
compounded with the same frequency as interest is payable on such Debentures.
Interest on overdue interest shall accrue from the date such amounts become
overdue.

      (b)    Notwithstanding the provisions of Section 4.1(a) or any other
provision herein to the contrary, the Company shall have the right, as provided
in an Officer's

                                      -23-
<PAGE>

Certificate or supplemental indenture issued pursuant to Section 2.1, in its
sole and absolute discretion at any time and from time to time while the
Debentures of any series are outstanding, so long as no Event of Default with
respect to such series of Debentures has occurred and is continuing, to defer
payments of interest by extending the interest payment period for such series of
Debentures for the maximum consecutive period, if any, specified for such series
of Debentures, provided that such Deferral Period (or any extension thereof) may
not extend beyond the Stated Maturity Date or Redemption Date of any Debenture
of such series, and must end on an Interest Payment Date or, if the Debentures
are redeemed, on an Interest Payment Date or the Redemption Date for such
Debentures, and provided further that at the end of each Deferral Period the
Company shall pay all interest then accrued and unpaid (together with interest
thereon to the extent permitted by applicable law at the rate accruing on such
Debentures). Prior to the termination of a Deferral Period, the Company may
shorten or may further extend the interest payment period for such series of
Debentures, provided that such Deferral Period together with all such previous
and further extensions may not exceed the maximum consecutive period specified
for such series of Debentures, end on a date other than an Interest Payment Date
or extend beyond the Stated Maturity Date or Redemption Date of any Debenture of
such series. The Company shall give the Trustee written notice of the Company's
election to begin a Deferral Period for any series of Debentures and any
shortening or extension thereof at least five Business Days prior to the earlier
of (i) the date the interest on such Debentures is payable or (ii) the date the
Company is required to give notice to the New York Stock Exchange or other
applicable self-regulatory organization or to holders of Debentures of the
record date or the date such interest is payable, but in any event not less than
five Business Days prior to such record date. The Company shall give or cause
the Trustee to give notice (a form of which shall be provided by the Company to
the Trustee) of the Company's election to begin a Deferral Period to the Holders
by first class mail, postage prepaid.

SECTION 4.2.  Limitation on Dividends.

      If at such time (a) there shall have occurred an event of which an Officer
of the Company has actual knowledge that is, or after notice or passage of time,
or both, would be, an Event of Default or (b) the Company shall have given
notice of its election to begin a Deferral Period as provided in this Indenture
and shall not have rescinded such notice, and such Deferral Period shall be
continuing, the Company covenants that the Company shall not (i) declare or pay
any dividends or distributions on, or redeem, purchase, acquire or make a
liquidation payment with respect to, any of the Company's Capital Stock (which
includes common and preferred stock) other than stock dividends which consist of
stock of the same class as that on which the dividends are being paid, (ii) make
any payment of principal, interest or premium, if any, on or repay or repurchase
or redeem or make any other payment in respect of any debt securities of the
Company that rank pari passu with or junior in interest to the Debentures or
(iii) make any guarantee payments with respect to any guarantee by the Company
of the debt securities of any subsidiary of the Company if such guarantee ranks
pari passu with or junior in interest to the Debentures. Restrictions referred
to in clauses (i) through (iii) of this Section 4.2 shall not apply to: (A)
dividends or distributions in shares of, or warrants or rights to subscribe for
or purchase shares of, the Company's Capital Stock, (B) any declaration of a
dividend in connection with the implementation of a stockholders' rights plan,
or the issuance of stock, other securities, cash or other assets, under any such
plan in

                                      -24-
<PAGE>

the future, or the redemption or repurchase of any such rights pursuant thereto,
(C) as a result of a reclassification of the Company's Capital Stock or the
exchange or conversion of one class or series of the Company's Capital Stock for
another class or series of the Company's Capital Stock, (D) the purchase of
fractional interests in shares of the Company's Capital Stock pursuant to the
conversion or exchange provisions of such Capital Stock or the security being
converted or exchanged or (E) purchases or acquisitions of shares of the Common
Stock in connection with the satisfaction by the Company of its obligations
under any employee benefit plan or any other contractual obligation of the
Company (other than a contractual obligation ranking expressly by its terms pari
passu with or junior in interest to the Debentures).

SECTION 4.3.  Periodic Reports to Trustee.

      The Company shall provide to the Trustee such documents, reports and
information as required by Section 314 of the TIA (if any) and the compliance
certificate required by Section 314 of the TIA in the form, in the manner and at
the times required by Section 314 of the TIA. Delivery of such reports,
information and documents to the Trustee is for informational purposes only and
the Trustee's receipt of such shall not constitute constructive notice of any
information contained therein or determinable from information contained
therein, including the Company's compliance with any of its covenants hereunder
(as to which the Trustee is entitled to rely exclusively on Officer's
Certificates).

SECTION 4.4.  Compliance Certificates.

      (a)    The Company shall deliver to the Trustee, within 120 days after the
end of each of the Company's fiscal years, an Officer's Certificate stating
whether or not the signer knows of any Default or Event of Default. Such
certificate shall contain a certification from the Officer signing the
certificate as to his or her knowledge of the Company's compliance with all
conditions and covenants under this Indenture. For purposes of this Section,
such compliance shall be determined without regard to any period of grace or
requirement of notice provided under this Indenture. If such Officer does know
of such a Default or Event of Default, the Officer's Certificate shall describe
any such Default or Event of Default, and its status. Such Officer's Certificate
need not comply with Sections 13.4 and 13.5.

      (b)    The Company shall deliver to the Trustee any information reasonably
requested by the Trustee in connection with the compliance by the Trustee or the
Company with the TIA.

SECTION 4.5.  Further Instruments and Acts.

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

                                      -25-
<PAGE>

SECTION 4.6.  Statement by Officers as to Default.

      The Company shall deliver to the Trustee, as soon as possible and in any
event within 30 days after the Company becomes aware of the occurrence of any
Event of Default or an event which, with notice or the lapse of time or both,
would constitute an Event of Default, an Officer's Certificate setting forth the
details of such Event of Default or default and the action which the Company
proposes to take with respect thereto.

                                   ARTICLE V

                             Successor Corporation

SECTION 5.1.  When the Company May Merge, Etc.

      The Company may not (a) merge with or into or consolidate with, or (b)
sell, assign, transfer, lease or convey all or substantially all of its
properties and assets to, any Person, other than with respect to this clause
(b), a direct or indirect wholly-owned subsidiary of the Company, and no Person
shall (x) merge with or into or consolidate with the Company, or (y) except in
the case of any direct or indirect wholly-owned subsidiary of the Company, sell,
assign, transfer, lease or convey all or substantially all of its properties and
assets to the Company, unless:

      (a)  the Company is the surviving corporation or the Person formed by or
  surviving such merger or consolidation or to which such sale, assignment,
  transfer, lease or conveyance shall have been made (the "Successor") if other
  than the Company (i) is organized and existing under the laws of the United
  States of America or any state thereof or the District of Columbia, and (ii)
  shall expressly assume by a supplemental indenture, executed and delivered to
  the Trustee, in form satisfactory to the Trustee, all the obligations of the
  Company under the Debentures and this Indenture;

      (b)  immediately after giving effect to such transaction, no Default or
  Event of Default shall have occurred and be continuing; and

      (c)  the Company delivers to the Trustee an Officer's Certificate and an
  Opinion of Counsel, each stating that such merger, consolidation, sale,
  assignment, transfer, lease or conveyance and such supplemental indenture
  comply with this Indenture.

      The Successor will be the successor to the Company, and will be
substituted for, and may exercise every right and power and become the obligor
on the Debentures with the same effect as if the Successor had been named as the
Company herein but, in the case of a sale, assignment, transfer, lease or
conveyance of all or substantially all of the properties and assets of the
Company, the predecessor Company will not be released from its obligation to pay
the principal of and premium, if any, and interest on the Debentures.

                                      -26-
<PAGE>

                                  ARTICLE VI

                             Defaults and Remedies

SECTION 6.1.  Events of Default.

      "Event of Default," wherever used herein with respect to Debentures of any
series, means any one of the following events (whatever the reason for such
Event of Default and whether it shall be occasioned by the provisions of Article
XII or 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), unless such event is
specifically deleted or modified in or pursuant to the supplemental indenture,
Board Resolution or Officer's Certificate establishing the terms of such series
pursuant to this Indenture:

      (a)  default in the payment, when due, of interest on any Debenture of
  that series and the default continues for a period of 30 days; provided, that
  during any Deferral Period for the Debentures of that series, failure to pay
  interest on the Debentures of that series shall not constitute a Default or
  Event of Default hereunder; or

      (b)  default in the payment of the principal of or premium, if any, on any
  Debenture of such series when it becomes due, whether at maturity, upon any
  redemption, by declaration of acceleration of maturity or otherwise; or

      (c)  default in the performance or breach of any covenant or agreement of
  the Company in this Indenture (other than a covenant or agreement a default in
  the performance or the breach of which is elsewhere in this Section
  specifically dealt with or which has been expressly included in this Indenture
  solely for the benefit of a series of Debentures), and continuance of such
  breach or default for a period of 90 days after receipt by the Company of a
  "Notice of Default"; or

      (d)  a court of competent jurisdiction enters:

              (i)    a decree or order for relief in respect of the Company
      in an involuntary proceeding under any applicable Bankruptcy Law and such
      decree or order shall remain unstayed and in effect for a period of 60
      consecutive days; or

              (ii)   a decree or order adjudging the Company to be insolvent,
      or approving a petition seeking reorganization, arrangement, adjustment or
      composition of the Company and such decree or order shall remain unstayed
      and in effect for a period of 60 consecutive days; or

              (iii)  a final and non-appealable order appointing a Custodian
      of the Company or of any substantial part of the property of the Company,
      or ordering the winding up or liquidation of the affairs of the Company;
      or

      (e)  the Company pursuant to or within the meaning of any Bankruptcy Law:
  (i) commences a voluntary case or proceeding; (ii) consents to the entry of an
  order for relief against it in an involuntary case or proceeding; (iii) files
  a petition or answer or

                                      -27-
<PAGE>

  consent seeking reorganization or relief or consents to such filing or to the
  appointment of or taking possession by a Custodian of it or for all or
  substantially all of its property, and such Custodian is not discharged within
  60 days; (iv) makes a general assignment for the benefit of its creditors; or
  (v) admits in writing its inability to pay its debts generally as they become
  due; or

      (f)  any other Event of Default provided in or pursuant to this Indenture
  with respect to Debentures of such series.

      The term "Bankruptcy Law" means Title 11 of the United States Code, or any
similar federal or state bankruptcy, insolvency, reorganization or other law for
the relief of debtors. "Custodian" means any receiver, trustee, assignee,
liquidator, sequestrator, custodian or similar official under any Bankruptcy
Law.

      A Default under clause (c) above is not an Event of Default until (i) the
Trustee or the Holders of at least 25% in aggregate principal amount of the
Debentures of that series at the time outstanding provide a "Notice of Default"
to the Company (ii) the Company does not cure such Default within the time
specified in clause (c) above after receipt of such notice. Any such notice must
specify the Default, demand that it be remedied and state that such notice is a
"Notice of Default."

SECTION 6.2.  Acceleration.

      If any Event of Default with respect to the Debentures of any series other
than an Event of Default under clause (d) or (e) of Section 6.1 occurs and is
continuing, the Trustee or the Holders of at least 25% in aggregate principal
amount of the Debentures of that series then outstanding may declare the
principal of, and any accrued interest on, all the Debentures of that series due
and payable immediately. Upon any such declaration such series of Debentures
shall become due and payable immediately. If an Event of Default specified in
clause (d) or (e) of Section 6.1 occurs, the principal of, and any accrued
interest on, all the Debentures shall ipso facto become and be immediately due
and payable without any declaration or other act on the part of the Trustee or
any Debentureholders.

      The foregoing paragraph, however, is subject to the condition that if, at
any time after the principal of the Debentures of that series shall have been so
declared due and payable, and before any judgment or decree for the payment of
the moneys due shall have been obtained or entered as hereinafter provided, the
Company shall pay or shall deposit with the Trustee a sum sufficient to pay all
matured installments of interest upon all the Debentures of that series and the
principal of and premium, if any, on all Debentures of that series which shall
have become due otherwise than by acceleration (with interest upon such
principal and premium, if any, and, to the extent that such payment is
enforceable under applicable law, upon overdue installments of interest, at the
rate accruing on the Debentures of that series to the date of such payment or
deposit) and the amount payable to the Trustee under Section 7.7, and any and
all Defaults under the Indenture, other than the nonpayment of principal of and
interest on Debentures of that series which shall not have become due by their
terms, shall have been remedied or waived as provided in Section 6.4, then and
in every such case the Holders of at least a majority in aggregate principal
amount of the Debentures of that series then outstanding,

                                      -28-
<PAGE>

by written notice to the Company and to the Trustee, may on behalf of all of the
Holders of such series of Debentures rescind and annul such declaration and its
consequences with respect to that series of Debentures; but no such rescission
and annulment shall extend to or shall affect any subsequent default, or shall
impair any right consequent thereon.

SECTION 6.3.  Other Remedies.

      If an Event of Default occurs and is continuing, the Trustee may, in its
own name or as trustee of an express trust, institute, pursue and prosecute any
proceeding, including but not limited to, any action at law or suit in equity or
other judicial or administrative proceeding to collect the payment of principal
of or premium, if any, or interest on the Debentures of the series that is in
default, to enforce the performance of any provision of the Debentures of that
series or this Indenture or to obtain any other available remedy.

      The Trustee may maintain a proceeding even if it does not possess any of
the Debentures or does not produce any of the Debentures in the proceeding. A
delay or omission by the Trustee or any Debentureholder in exercising any right
or remedy accruing upon an Event of Default shall not impair such right or
remedy or constitute a waiver of, or acquiescence in, such Event of Default. No
remedy is exclusive of any other remedy. All available remedies are cumulative.

SECTION 6.4.  Waiver of Past Defaults.

      If a Default or Event of Default with respect to a series of Debentures
has occurred and is continuing, the Holders of at least a majority in aggregate
principal amount of the Debentures of that series at the time outstanding, by
notice to the Trustee and the Company, may waive an existing Default or Event of
Default and its consequences hereunder except (i) a continuing Default or Event
of Default in the payment of the principal of or premium, if any, or interest on
any Debenture of that series (unless such Event of Default has been cured and a
sum sufficient to pay all matured installments of interest and premium, if any,
and principal due otherwise than by acceleration has been deposited with the
Trustee) or (ii) a Default or Event of Default in respect of a covenant or
provision which under this Indenture cannot be modified or amended without the
consent of the holder of each outstanding Debenture of that series. When a
Default or Event of Default is waived, it is deemed cured and shall cease to
exist, but no such waiver shall extend to any subsequent or other Default or
Event of Default or impair any consequent right.

SECTION 6.5.  Control by Holders.

      The Holders of at least a majority in aggregate principal amount of the
Debentures of a series at the time outstanding may direct the time, method and
place of conducting any proceeding for any remedy available to the Trustee, or
of exercising any trust or power conferred on the Trustee, in respect of such
series of Debentures. However, the Trustee may refuse to follow any direction
that conflicts with law or this Indenture or that the Trustee determines in good
faith is unduly prejudicial to the rights of other Debentureholders or may
involve the Trustee in personal liability. The Trustee may

                                      -29-
<PAGE>

take any other action deemed proper by the Trustee which is not inconsistent
with such direction, including withholding notice to the Holders of the
Debentures of a continuing Default (except in the payment of the principal of
(other than any mandatory sinking fund payment) or premium, if any, or interest
on any Debentures) if the Trustee considers it in the interest of the Holders of
the Debentures to do so.

SECTION 6.6.   Limitation on Suits.

          Except as provided in Section 6.7, no Holder of Debentures of any
series may pursue any remedy with respect to this Indenture or the Debentures
unless:

          (a)  the Holders of Debentures of such series give to the Trustee
     written notice stating that an Event of Default with respect to the
     corresponding Debentures of such series has occurred and is continuing;

          (b)  the Holders of at least 25% in aggregate principal amount of the
     outstanding Debentures of that series make a written request to the Trustee
     to pursue a remedy;

          (c)  the Holders of Debentures of such series provide to the Trustee
     security and indemnity reasonably satisfactory to the Trustee against any
     loss, liability or expense satisfactory to the Trustee;

          (d)  the Trustee does not comply with the request within 60 days after
     receipt of the notice, the request and the offer of security and indemnity;
     and

          (e)  during such 60 day period, the Holders of at least a majority in
     aggregate principal amount of the Debentures of that series do not give the
     Trustee a direction inconsistent with the request.

          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 or any
Debenture to affect, disturb or prejudice the rights of any other such Holders,
or to obtain or 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 such Holders.

SECTION 6.7.   Unconditional Right of Holders to Receive Principal, Premium and
               Interest.

          Notwithstanding any other provision of this Indenture, the Holder of
any Debenture shall have the right which is absolute and unconditional to
receive payment of the principal of, premium, if any, and (subject to Section
2.2) interest on such Debenture on the respective due dates expressed in such
Debenture (or, in the case of redemption, on the Redemption Date) and to convert
or exchange such Debentures in accordance with its terms, if applicable, and to
institute suit for the enforcement of such payment or conversion or exchange,
and such right shall not be impaired without the consent of such Holder.

                                      -30-
<PAGE>

SECTION 6.8.   Collection Suits by the Trustee.

          The Company covenants that if

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

          (b)  default is made in the payment of the principal of or premium, if
     any, on any Debenture on the Stated Maturity Date or Redemption Date
     thereof,

the Company will, upon demand of the Trustee, pay to it, for the benefit of the
Holder of such Debenture, the whole amount then due and payable on such
Debenture for principal, premium, if any, and interest and, to the extent that
payment of such interest shall be legally enforceable, interest on any overdue
principal and premium, if any, and on any overdue interest, at the rate or rates
prescribed therefor in such Debenture 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.

          If the Company fails to pay such amounts forthwith upon such demand,
the Trustee, in its own name and as trustee of an express trust, may institute a
judicial proceeding for the collection of the sums so due and unpaid, may
prosecute such proceeding to judgment or final decree and may enforce the same
against the Company or any other obligor upon such Debenture and collect the
moneys adjudged or decreed to be payable in the manner provided by law out of
the property of the Company or any other obligor upon such Debenture, wherever
situated.

          If an Event of Default with respect to Debentures 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 Debentures 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 such Debentures or in aid of the
exercise of any power granted herein, or to enforce any other remedy available
under this Indenture or by law.

SECTION 6.9.   Trustee May File Proofs of Claim.

          In case of the pendency of any receivership, insolvency, liquidation,
bankruptcy, reorganization, arrangement, adjustment, composition or other
judicial proceeding relative to the Company or its properties or assets, the
Trustee shall be entitled and empowered, by intervention in such proceeding or
otherwise:

          (a)  to file and prove a claim for the whole amount of the principal
     of and premium, if any, and interest on the Debentures and to file such
     other papers or documents as may be necessary or advisable in order to have
     the claims of the Trustee (including any claim for the reasonable
     compensation, expenses, disbursements and advances of the Trustee, its
     agents and counsel) and of the Holders of Debentures allowed in such
     judicial proceeding; and

                                      -31-
<PAGE>

          (b)  to collect and receive any moneys or other property payable or
     deliverable on any such claims and to distribute the same; and any
     Custodian 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 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
     7.7.

          Nothing herein contained shall be deemed to authorize the Trustee to
authorize or consent to or accept or adopt on behalf of any Holder of a
Debenture any plan of reorganization, arrangement, adjustment or composition
affecting the Debentures 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.

SECTION 6.10.  Priorities.

          If the Trustee collects any money pursuant to this Article 6, it
shall, subject to Article 10, pay out the money in the following order:

          FIRST:  to the Trustee for amounts due under Section 7.7;

          SECOND: subject to Article XII, to Holders of Debentures in respect of
                  which or for the benefit of which such money has been
                  collected for amounts due and unpaid on such Debentures for
                  the principal thereof or premium, if any, or interest, if any,
                  thereon ratably, without preference or priority of any kind,
                  according to such amounts due and payable on such Debentures;
                  and

          THIRD:  the balance, if any, to the Company.

          Except as otherwise set forth in the Debentures, the Trustee may fix a
Record Date and payment date for any payment to Debentureholders pursuant to
this Section.

SECTION 6.11.  Undertaking for Costs.

          In any suit for the enforcement of any right or remedy under this
Indenture or in any suit against the Trustee for any action taken or omitted by
it as Trustee, a court in its discretion may require the filing by any party
litigant (other than the Trustee) in the suit of an undertaking to pay the costs
of the suit, and the court in its discretion may assess reasonable costs,
including reasonable attorneys' fees and expenses, against any party litigant in
the suit, having due regard to the merits and good faith of the claims or
defenses made by the party litigant. This Section does not apply to a suit by
the Trustee, a suit by a Holder of Debentures pursuant to Section 6.7 or a suit
by Holders of Debentures of more than 10% in aggregate principal amount of the
outstanding Debentures of any series.

                                      -32-
<PAGE>

                                  ARTICLE VII

                                  The Trustee

SECTION 7.1.   Duties and Responsibilities of the Trustee.

          (a)  If an Event of Default occurs and is continuing with respect to
the Debentures of any series, the Trustee shall exercise the rights and powers
vested in it by this Indenture with respect to that series and use the same
degree of care and skill in its exercise as a prudent person would exercise or
use under the circumstances in the conduct of his or her own affairs.

          (b)  Except during the continuance of an Event of Default with respect
to the Debentures of any series, (i) the Trustee need perform only those duties
with respect to that series that are specifically set forth in this Indenture or
the TIA and no implied covenants or obligations shall be read into this
Indenture against the Trustee; and (ii) in the absence of bad faith on its part,
the Trustee may conclusively rely, as to the truth of the statements and the
correctness of the opinions expressed therein, upon certificates or opinions
furnished to the Trustee and conforming to the requirements of this Indenture.
However, in the case of any certificates or opinions which by any provision
hereof are specifically required to be furnished to the Trustee, the Trustee
shall examine the certificates and opinions to determine whether or not they
conform to the requirements of this Indenture (but shall not be required to
confirm or investigate the accuracy of mathematical calculations or other facts
stated therein).

          (c)  The Trustee may not be relieved from liability for its own
negligent action, its own negligent failure to act or its own willful
misconduct, except that:

               (i)   this clause (c) does not limit the effect of Section
          7.1(b);

               (ii)  the Trustee shall not be liable for any error of judgment
          made in good faith by a Responsible Officer unless it is proved that
          the Trustee was negligent in ascertaining the pertinent facts; and

               (iii) the Trustee shall not be liable with respect to any action
          it takes or omits to take in good faith in accordance with a direction
          (A) received by it pursuant to Section 6.5 or (B) of the Holders of a
          majority in principal amount of any series of Debentures.

          (d)  Every provision of this Indenture that in any way relates to the
Trustee is subject to Section 7.1 (a), (b), (c) and (e) and Section 7.2.

          (e)  The Trustee may refuse to perform any duty or exercise any right
or power unless it receives security and indemnity reasonably satisfactory to it
against any loss, liability or expense (including reasonable counsel fees).

          (f)  No provision of this Indenture shall require the Trustee to
expend or risk its own funds or otherwise incur personal liability in the
performance of any of its duties or in the exercise of any of its rights or
powers, if it shall have reasonable grounds for

                                      -33-
<PAGE>

believing that the repayment of such funds or liability is not reasonably
assured to it under the terms of this Indenture or indemnity reasonably
satisfactory to the Trustee against such risk or liability is not reasonably
assured to it.

          (g)  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 not be liable for interest on any money held by it hereunder except as
otherwise agreed in writing with the Company.

SECTION 7.2.   Rights of the Trustee.

          Subject to Section 7.1:

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

          (b)  any request or direction of the Company mentioned herein shall be
     sufficiently evidenced by a Company Order (in each case, other than
     delivery of any Debenture to the Trustee for authentication and delivery
     pursuant to Section 2.3, which shall be sufficiently evidenced as provided
     therein) and any resolution of the Board of Directors may be sufficiently
     evidenced by a Board Resolution;

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

          (d)  the Trustee may consult with counsel of its selection and the
     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;

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

          (f)  the Trustee shall not be bound to make any investigation into the
     facts or matters stated in any resolution, certificate, statement,
     instrument, opinion, report, notice, request, direction, consent, order,
     bond, debenture, coupon or other paper or document, but the Trustee, in its
     discretion, may make such further inquiry or investigation into such facts
     or matters as it may see fit, and, if the Trustee shall

                                      -34-
<PAGE>

     determine to make such further inquiry or investigation, it shall be
     entitled to examine, during business hours and upon reasonable notice, the
     books, records and premises of the Company, personally or by agent or
     attorney at the reasonable cost of the Company;

          (g)  the Trustee 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 shall not be responsible for any misconduct or
     negligence on the part of any agent or attorney appointed with due care by
     it hereunder;

          (h)  the Trustee shall not be deemed to have notice of any Default or
     Event of Default unless a Responsible Officer of the Trustee has actual
     knowledge thereof or unless written notice of any event which is in fact
     such a default is received by the Trustee at the Corporate Trust Office of
     the Trustee, and such notice references the Debentures and this Indenture;
     and

          (i)  the rights, privileges, protections, immunities and benefits
     given to the Trustee, including, but not limited to, its right to be
     indemnified, are extended to, and shall be enforceable by, the Trustee in
     each of its capacities hereunder, and to each agent, custodian and other
     Person employed to act hereunder.

SECTION 7.3.   Not Responsible for Recitals or Issuances of Debentures.

          The Trustee makes no representation as to the validity or adequacy of
this Indenture or the Debentures. The Trustee shall not be accountable for the
Company's use of the proceeds from the Debentures, and the Trustee shall not be
responsible for any statement in this Indenture or the Debentures or any report
or certificate issued by the Company hereunder or any registration statement
relating to the Debentures (other than the Trustee's Certificate of
Authentication and the Trustee's Statement of Eligibility on Form T-1), or the
determination as to which beneficial owners are entitled to receive any notices
hereunder.

SECTION 7.4.   May Hold Debentures.

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

SECTION 7.5.   Notice of Defaults.

          If a Default or Event of Default occurs and is continuing with respect
to the Debentures of any series and if it is known to the Trustee, the Trustee
shall mail to each Holder of a Debenture of that series notice of the Default
within 90 days after it becomes known to the Trustee unless such Default shall
have been cured or waived. Except in the case of a Default described in Section
6.1(a) or (b), the Trustee may withhold such notice if and so long, as a
committee of Responsible Officers in good faith determines that the

                                      -35-
<PAGE>

withholding of such notice is in the interests of the Holders of the Debentures
of that series. The Trustee shall not be charged with knowledge of any Default
or Event of Default unless a Responsible Officer of the Trustee shall have
actual knowledge of the Default. The second sentence of this Section shall be in
lieu of the proviso to TIA Section 315(b). Said proviso is hereby expressly
excluded from this Indenture, as permitted by the TIA.

SECTION 7.6.   Reports by Trustee to Holders.

          Within 60 days after each [.], beginning with the [.] next following
the date of this Indenture, and for so long as Debentures remain outstanding,
the Trustee shall mail to each Debentureholder, and such other holders that have
submitted their names to the Trustee for such purpose, a brief report dated as
of such [.] in accordance with and to the extent required under TIA Section 313.

          A copy of each report at the time of its mailing to Debentureholders
shall be filed with the Company, the SEC and any securities exchange on which
the Debentures are listed in accordance with TIA Section 313(d). The Company
agrees to promptly notify the Trustee whenever the Debentures become listed on
any securities exchange and of any delisting thereof.

SECTION 7.7.   Compensation and Indemnity.

          The Company covenants and agrees:

          (a)  to pay to the Trustee from time to time such reasonable
     compensation as shall be agreed in writing between the Company and the
     Trustee 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);

          (b)  to reimburse the Trustee upon its request for reasonable
     expenses, disbursements and advances incurred or made by the Trustee in
     accordance with any provision of this Indenture (including the reasonable
     compensation and the expenses, and advances of its agents and counsel),
     including all reasonable expenses and advances incurred or made by the
     Trustee in connection with any Default or Event of Default or any
     membership on any creditors' committee, except any such expense or advance
     as may be attributable to its negligence, willful misconduct or bad faith;
     and

          (c)  to the fullest extent permitted by law, to indemnify each of the
     Trustee, or any predecessor Trustee, its officers, employees, directors,
     shareholders and agents, for, and to hold them harmless against, any and
     all loss, damage, claim, liability or expense, including taxes (other than
     taxes based upon, measured by or determined by the income of the Trustee or
     any predecessor Trustee), incurred without negligence or willful misconduct
     on its part, arising out of or in connection with the acceptance or
     administration of its duties under this Indenture, including the reasonable
     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.

                                      -36-
<PAGE>

          The Trustee shall notify the Company promptly of any claim for which
it may seek indemnity. Failure by the Trustee to so notify the Company shall not
relieve the Company of its obligations hereunder. The Company shall defend the
claim and the Trustee shall cooperate in the defense. The Trustee may have
separate counsel and the Company shall pay the reasonable fees and expenses of
such counsel. The Company need not pay for any settlement made without its
consent, which consent shall not be unreasonably withheld.

          Before, after or during an Event of Default with respect to the
Debentures of a series, the Trustee shall have a claim and lien prior to the
Debentures of that series as to all property and funds held by it hereunder for
any amount owing it for its fees and expenses or any predecessor Trustee
pursuant to this Section, except with respect to funds held by the Trustee or
any Paying Agent in trust for the payment of principal of or premium, if any, or
interest on Debentures pursuant to Section 2.5 or Section 8.1.

          The Company's payment and indemnity obligations pursuant to this
Section are not subject to Article 10 of this Indenture and shall survive the
discharge of this Indenture and the resignation or removal of the Trustee. When
the Trustee renders services or incurs expenses after the occurrence of a
Default specified in Section 6.1(d) or (e), the compensation for services and
expenses are intended to constitute expenses of administration under any
Bankruptcy Law.

          The Trustee shall comply with the provisions of TIA Section 313(b)(2)
to the extent applicable.

SECTION 7.8.   Eligibility; Disqualification.

          (a)  The Trustee shall at all times satisfy the requirements of the
TIA Sections 310(a)(1), 310(a)(2) and 310(a)(5). The Trustee (or any Affiliate
thereof which has unconditionally guaranteed the obligations of the Trustee
hereunder) shall have a combined capital and surplus of at least $50,000,000 as
set forth in its most recently published annual report of condition. If at any
time the Trustee shall cease to be eligible in accordance with the provisions of
this Section, it shall resign immediately in the manner and with the effect
hereinafter specified in this Article.

          (b)  The Trustee shall comply with TIA Section 310(b). In determining
whether the Trustee has conflicting interests as defined in TIA Section
310(b)(1), the provisions contained in the proviso to TIA Section 310(b)(1) and
the Trustee's Statement of Eligibility on Form T-1 shall be deemed incorporated
herein.

SECTION 7.9.      Resignation and Removal; Appointment of Successor.

          (a)  No resignation or removal of the Trustee and no appointment of a
successor Trustee pursuant to this Article shall become effective until the
acceptance of appointment by the successor Trustee in accordance with the
applicable requirements of Section 7.10.

          (b)  The Trustee may resign at any time with respect to the Debentures
of one or more series by giving written notice thereof to the Company. Upon
receiving such

                                      -37-
<PAGE>

notice of resignation the Company shall promptly appoint a successor trustee in
accordance with Section 7.10. If the instrument of acceptance by a successor
Trustee required by Section 7.10 shall not have been delivered to the Trustee
within 60 days after the giving of such notice of resignation, the resigning
Trustee may petition, at the expense of the Company, any court of competent
jurisdiction for the appointment of a successor Trustee with respect to the
Debentures of such series.

          (c)  If the Trustee has or shall acquire any conflicting interest, as
defined in Section 310(b) of the TIA, with respect to the Debentures of any
series, it shall, within 90 days after ascertaining it has such conflicting
interest, either eliminate the conflicting interest or resign with respect to
the Debentures of that series in the manner set forth in this Section.

          (d)  The Trustee may be removed at any time with respect to the
Debentures of any series by Act of the Holders of at least a majority in
principal amount of the outstanding Debentures of such series, delivered to the
Trustee and to the Company. If an instrument of acceptance by a successor
Trustee shall not have been delivered to the Trustee within 30 days after the
giving of such notice of removal, the Trustee being removed may petition, at the
expense of the Company, any court of competent jurisdiction for the appointment
of a successor Trustee with respect to the Debentures of such series.

          (e)  If at any time:

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

               (ii)  the Trustee shall cease to be eligible under Section 7.8(a)
          and shall fail to resign after written request therefor by the Company
          or by any such Holder, or

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

then, in any such case, (1) the Company by a Board Resolution may remove the
Trustee with respect to all Debentures, or (2) subject to Section 6.11, any
Holder of a Debenture who has been a bona fide Holder of a Debenture 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 with
respect to all Debentures of such series and the appointment of a successor
Trustee or Trustees.

          (f)  If the Trustee shall resign, be removed or become incapable of
acting, or if a vacancy shall occur in the office of Trustee for any cause, with
respect to the Debentures of one or more series, the Company, by or pursuant to
a Board Resolution, shall promptly appoint a successor Trustee or Trustees with
respect to the Debentures of that or those series (it being understood that any
such successor Trustee may be appointed

                                      -38-
<PAGE>

with respect to the Debentures of one or more or all of such series and that at
any time there shall be only one Trustee with respect to the Debentures of any
particular series) and shall comply with the applicable requirements of Section
7.10. If, within one year after such resignation, removal or incapability, or
the occurrence of such vacancy, a successor Trustee with respect to the
Debentures of any series shall be appointed by Act of the Holders of at least a
majority in principal amount of the outstanding Debentures of such series,
notice of such appointment shall be delivered to the Company and the retiring
Trustee. The successor Trustee so appointed shall, forthwith upon its acceptance
of such appointment in accordance with the applicable requirements of Section
7.10, become the successor Trustee with respect to the Debentures of such series
and to that extent supersede the successor Trustee appointed by the Company. If
no successor Trustee with respect to the Debentures of any series shall have
been so appointed by the Company or the Holders of Debentures and accepted
appointment in the manner required by Section 7.10, any Holder of a Debenture
who has been a bona fide Holder of a Debenture 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 with
respect to the Debentures of such series.

          (g)  The Company shall give notice of each resignation and each
removal of the Trustee with respect to the Debentures of any series and each
appointment of a successor Trustee with respect to the Debentures of any series
in the manner provided in Section 13.2. Each notice shall include the name of
the successor Trustee with respect to the Debentures of such series and the
address of its Corporate Trust Office.

SECTION 7.10.  Acceptance of Appointment by Successor.

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

          (b)  In case of the appointment hereunder of a successor Trustee with
respect to the Debentures of one or more (but not all) series, the Company, the
retiring Trustee and each successor Trustee with respect to the Debentures of
one or more series shall execute and deliver an indenture supplemental hereto
wherein each successor Trustee shall accept such appointment and which (i) shall
contain such provisions as shall be necessary or desirable to transfer and
confirm to, and to vest in, each successor Trustee all the rights, powers,
trusts and deeds of the Trustee with respect to the Debentures of that or those
series which the appointment of such successor Trustee relates, (ii) if the
retiring Trustee is not retiring with respect to all Debentures, 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 with respect to
the Debentures of that or

                                      -39-
<PAGE>

those series as to which the retiring Trustee is not retiring shall continue
to be vested in the retiring Trustee, and (iii) 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,
it being understood that nothing herein or in such supplemental indenture shall
constitute such Trustees as co-trustees of the same trust and that each such
Trustee shall be trustee of a trust or trusts hereunder separate and apart from
any trust or trusts hereunder administered by any other such Trustee; and upon
the execution and delivery of such supplemental indenture the resignation or
removal of the retiring Trustee shall become effective to the extent provided
therein and each such successor Trustee, without any further act, deed or
conveyance, shall become vested with all the rights, powers, trusts and duties
of the retiring Trustee with respect to the Debentures of that or those series
to which the appointment of such successor Trustee relates; but, on request of
the Company or any successor Trustee, such retiring Trustee shall duly assign,
transfer and deliver to such successor Trustee all property and money held by
such retiring Trustee hereunder with respect to the Debentures of that or those
series to which the appointment of such successor Trustee relates.

     (c)  Upon request of any such successor Trustee, the Company shall execute
any and all instruments for more fully and certainly vesting in and confirming
to such successor Trustee all such rights, powers and trusts referred to in
paragraph (a) or (b) of this Section, as the case may be.

     (d)  No successor Trustee shall accept its appointment unless at the time
of such acceptance such successor Trustee shall be qualified and eligible under
this Article.

SECTION 7.11.  Successor Trustee by Merger.

     If the Trustee consolidates with, merges or converts into, or transfers all
or substantially all its corporate trust business or assets to another
corporation or banking association, the resulting, surviving or transferee
corporation without any further act shall be the successor Trustee.

                                 ARTICLE VIII

            Satisfaction and Discharge of Indenture; Unclaimed Moneys

SECTION 8.1.   Satisfaction and Discharge of Indenture.

     Upon the direction of the Company by a Company Order, this Indenture shall
cease to be of further effect with respect to any series of Debentures as
specified in such Company Order, and the Trustee, on receipt of a Company Order,
at the expense of the Company, shall execute proper instruments acknowledging
satisfaction and discharge of this Indenture as to such series, when

     (a)  either

          (ii)   all Debentures of such series theretofore authenticated and
     delivered (other than (1) Debentures of such series which have been
     destroyed,

                                      -40-
<PAGE>

     lost or stolen and which have been replaced or paid as provided in Section
     2.8, and (2) Debentures of such series 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 8.4) have been delivered to the Trustee for
     cancellation; or

          (iii)  all Debentures of such series not theretofore delivered to the
     Trustee for cancellation

                 (1)  have become due and payable, or

                 (2)  will become due and payable at their stated maturity
          within one year, or

                 (3)  if redeemable at the option of the Company, 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 (1), (2) or (3) above, has deposited or
     caused to be deposited with the Trustee as trust funds in trust for such
     purpose, (a) cash (which may be held in an interest bearing account insured
     by the Federal Deposit Insurance Corporation) in an amount, or (b) U.S.
     Government Obligations, maturing as to principal and interest at such times
     and in such amounts as will ensure the availability of cash, or (c) a
     combination thereof, in an amount sufficient to pay and discharge the
     entire indebtedness on such Debentures not theretofore delivered to the
     Trustee for cancellation, including the principal of, and premium, if any,
     and interest on such Debentures, to the date of such deposit (in the case
     of Debentures which have become due and payable) or to the Stated Maturity
     Date or Redemption Date thereof, as the case may be; and

          (b)  the Company has paid or caused to be paid all other sums payable
     hereunder by the Company with respect to the outstanding Debentures of such
     series.

          In the event there are Debentures of two or more series outstanding
hereunder, the Trustee shall be required to execute an instrument acknowledging
satisfaction and discharge of this Indenture only if requested to do so with
respect to Debentures of such series as to which it is Trustee and if the other
conditions thereto are met.

          Notwithstanding the satisfaction and discharge of this Indenture, with
respect to any series of Debentures, the obligations of the Company to the
Trustee under Section 7.7 and, if money shall have been deposited with the
Trustee pursuant to clause (a)(ii) of this Section, the following obligations of
the Company and the Trustee with respect to the Debentures of such series, shall
survive: (i) the rights of registration of transfer and exchange of Debentures
of such series, (ii) the replacement of apparently mutilated, defaced,
destroyed, lost or stolen Debentures of such series, (iii) the rights of the
Holders of the Debentures of such series to receive payments of the principal
of, premium, if any, and interest on the Debentures of such series, (iv) the
rights of the Holders of the Debentures of such series as beneficiaries hereof
with respect to the property so deposited

                                      -41-
<PAGE>

with the Trustee payable to all or any of them, (v) the obligation of the
Company to maintain an Office or Agency for payments on and registration of
transfer of the Debentures of such series, (vi) the rights, obligations and
immunities of the Trustee hereunder, and (vii) any rights to convert or exchange
the Debentures of such series into other securities or rights in accordance with
their terms. Funds held in trust pursuant to this Section are not subject to the
provisions of Article XII.

SECTION 8.2.   Application by Trustee of Funds Deposited for Payment of
               Debentures.

     Subject to Section 8.4, all moneys deposited with the Trustee pursuant to
Section 8.1 and in accordance with the provisions of Article XII with respect to
the Debentures of any series shall be held in trust for the sole benefit of the
Holders of the Debentures of such series and not be subject to the subordination
provisions of Article XII, and such moneys shall be applied by the Trustee to
the payment, either directly or through any Paying Agent (including the Company
acting as its own Paying Agent), to the Holders of the Debentures of such series
for the payment or redemption of which such moneys have been deposited with the
Trustee, of all sums due and to become due thereon for principal and interest,
but such money 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 8.1 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 Debentures outstanding hereunder.

SECTION 8.3.   Repayment of Moneys Held by Paying Agent.

     In connection with the satisfaction and discharge of this Indenture, all
moneys then held by any Paying Agent under this Indenture shall, upon demand of
the Company, be repaid to it or paid to the Trustee, and thereupon such Paying
Agent shall be released from all further liability with respect to such moneys.

SECTION 8.4.   Return of Moneys Held by the Trustee and Paying Agent Unclaimed
               for Two Years.

     Any moneys deposited with or paid to the Trustee or any Paying Agent for
the payment of the principal of and premium, if any, or interest on the
Debentures of any series and not applied but remaining unclaimed for two years
after the date when such principal, premium, if any, or interest shall have
become due and payable shall, unless otherwise required by mandatory provisions
of applicable escheat or abandoned or unclaimed property law, be repaid to the
Company by the Trustee or such Paying Agent, and the Holders of such Debentures
shall, unless otherwise required by mandatory provisions of applicable escheat
or abandoned or unclaimed property laws, thereafter look only to the Company for
any payment which such Holder may be entitled to collect as a general unsecured
creditor, and all liability of the Trustee or any Paying Agent with respect to
such moneys shall thereupon cease.

                                      -42-
<PAGE>

                                  ARTICLE IX

                             Supplemental Indentures

SECTION 9.1.   Supplemental Indentures Without Consent of Holders.

          From time to time, when authorized by a resolution of the Board of
Directors, the Company and the Trustee, without notice to or the consent of any
Holders of the Debentures, may amend or supplement this Indenture:

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

          (b)  to add to the covenants of the Company for the benefit of the
     Holders of all or any series of Debentures (as shall be specified in such
     supplemental indenture or indentures) or to surrender any right or power
     herein conferred upon the Company; provided, however, that in respect of
     any such additional covenant, restriction or condition on the Company, such
     supplemental indenture may provide for a particular period of grace after
     default (which period may be shorter or longer than that allowed in the
     case of other defaults) or may provide for an immediate enforcement upon
     such default or may limit the remedies available to the Trustee upon such
     default; or

          (c)  to add any additional Events of Default with respect to all or
     any series of Debentures (as shall be specified in such supplemental
     indenture); or

          (d)  to change or eliminate any of the provisions of this Indenture,
     provided, that any such change or elimination shall become effective only
     when there is no Debenture outstanding of any series created prior to the
     execution of such supplemental indenture which is entitled to the benefit
     of such provision; or

          (e)  to establish the form or terms of Debentures of any series as
     permitted by Section 2.1 or, in lieu of any such supplemental indenture,
     the Company may provide the Trustee with an Officer's Certificate with
     respect to the form or terms of such Debentures; or

          (f)  to evidence and provide for the acceptance of appointment
     hereunder by a successor Trustee with respect to the Debentures 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; or

          (g)  to cure any ambiguity, to correct or supplement any provision
     herein or in any supplemental indenture which may be defective or
     inconsistent with any other provision herein or in any supplemental
     indenture, or to make any other provisions with respect to matters or
     questions arising under this Indenture or under any supplemental indenture,
     which shall not adversely affect the interests of the Holders of Debentures
     of any series then outstanding in any material respect; or

                                      -43-
<PAGE>

          (h)  to add to, delete from or revise the conditions, limitations and
     restrictions on the authorized amount, terms or purposes of issue,
     authentication and delivery of Debentures as herein set forth; or

          (i)  to comply with requirements of the SEC in order to effect or
     maintain qualification of this Indenture under the TIA; or

          (j)  subject to Section 12.12, to make any change in Article XII that
     would limit or terminate the benefits available to any holder of Senior
     Indebtedness under such Article; or

          (k)  to supplement any of the provisions of this Indenture to such
     extent as shall be necessary to permit or facilitate the defeasance and
     discharge of any series of Debentures provided that any such action shall
     not adversely affect the interests of any Holder of a Debenture of such
     series or any other Debenture in any material respect.

SECTION 9.2.   Supplemental Indentures with Consent of Holders.

     The Company and the Trustee may amend this Indenture in any manner not
permitted by Section 9.1 or may waive future compliance by the Company with any
provisions of this Indenture with the consent of the Holders of at least a
majority in aggregate principal amount of the Debentures of each series affected
thereby then outstanding. However, such an amendment or waiver may not, without
the consent of each Holder of any Debenture affected thereby:

          (a)  reduce the principal amount of such Debentures;

          (b)  reduce the percentage of the principal amount of such Debentures
     the Holders of which must consent to an amendment of this Indenture or a
     waiver;

          (c)  change (i) the stated maturity of the principal of or the
     interest on such Debentures, except in connection with any Deferral Period,
     (ii) the rate of interest (or the manner of calculation thereof) on such
     Debentures, or (iii) the duration of the maximum consecutive period that
     payments of interest on such Debentures may be deferred;

          (d)  change adversely to the Holders the redemption, conversion or
     exchange provisions applicable to such Debentures, if any;

          (e)  change the currency in respect of which the payments on such
     Debentures are to be made;

          (f)  make any change in Article 10 that adversely affects the rights
     of the Holders of the Debentures or any change to any other Section hereof
     that adversely affects their rights under Article 10;

          (g)  change Section 6.7; or

                                      -44-
<PAGE>

          (h)  modify the provisions of the Indenture with respect to the
     subordination of the Debentures in a manner adverse to the Holders.

          The Company may, but shall not be obligated to, fix a record date for
the purpose of determining the Persons entitled to consent to any indenture
supplemental hereto. If a record date is fixed, the Holders on such record date,
or their duly designated proxies, and only such Persons, shall be entitled to
consent to such supplemental indenture, whether or not such Holders remain
Holders after such record date; provided, that unless such consent shall have
become effective by virtue of the requisite percentage having been obtained
prior to the date which is 90 days after such record date, any such consent
previously given shall automatically and without further action by any Holder be
canceled and of no further effect.

          A supplemental indenture that changes or eliminates any covenant or
other provision of this Indenture that has expressly been included solely for
the benefit of one or more particular series of Debentures, or which modifies
the rights of the Holders of Debentures 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 Debentures of any other series.

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

          If certain Holders agree to defer or waive certain obligations of the
Company hereunder with respect to Debentures held by them, such deferral or
waiver shall not affect the rights of any other Holder to receive the payment or
performance required hereunder in a timely manner.

          After an amendment or waiver under this Section becomes effective, the
Company shall mail to each Holder a notice briefly describing the amendment or
waiver. Any failure of the Company to mail such notices, or any defect therein,
shall not, however, in any way impair or affect the validity of such amendment
or waiver.

SECTION 9.3.   Compliance with Trust Indenture Act.

          Every supplemental indenture executed pursuant to this Article 9 shall
comply with the TIA.

SECTION 9.4.   Revocation and Effect of Consents, Waivers and Actions.

          Until an amendment, supplement, waiver or other action by Holders
becomes effective, a consent, waiver or any other action by a Holder of a
Debenture hereunder is a continuing consent by the Holder and every subsequent
Holder of that Debenture or portion of the Debenture that evidences the same
obligation as the consenting Holder's Debenture, even if notation of the
consent, waiver or action is not made on such Debenture. However, any such
Holder or subsequent Holder may revoke the consent, waiver or action as to such
Holder's Debenture or portion of the Debenture if the Trustee receives the
notice of revocation before the consent of the requisite aggregate principal

                                      -45-
<PAGE>

amount of such Debentures then outstanding has been obtained and not revoked.
After an amendment, waiver or action becomes effective, it shall bind every
Holder of the Debentures of the related series, except as provided in Section
9.2.

     The Company may, but shall not be obligated to, fix a Record Date for the
purpose of determining the Persons entitled to consent to any amendment or
waiver. If a Record Date is fixed, then, notwithstanding the first two sentences
of the immediately preceding paragraph, only Holders of Debentures on such
Record Date or their duly designated proxies, and only those Persons, shall be
entitled to consent to such amendment, supplement or waiver or to revoke any
consent previously given, whether or not such Persons continue to be such after
such Record Date. No such consent shall be valid or effective for more than 90
days after such Record Date.

SECTION 9.5.   Notation on or Exchange of Debentures.

     Debentures of the related series authenticated and made available for
delivery after the execution of any supplemental indenture pursuant to this
Article 9 may, and shall, if required by the Trustee, bear a notation in form
approved by the Trustee as to any matter provided for in such supplemental
indenture. If the Company shall so determine, new Debentures so modified to
conform to any such supplemental indenture may be prepared and executed by the
Company and authenticated and made available for delivery by the Trustee in
exchange for outstanding Debentures.

     Failure to make the appropriate notification or issue a new Debenture shall
not affect the validity and effect of such supplemental indenture.

SECTION 9.6.   Execution of Supplemental Indentures.

     The Trustee shall execute any supplemental indenture authorized pursuant to
this Article 9 if the supplemental indenture does not adversely affect the
rights, duties, liabilities or immunities of the Trustee. If it does, the
Trustee may, but need not, execute it. In executing such supplemental indenture,
the Trustee shall be entitled to receive, and shall be fully protected in
relying upon, an Officer's Certificate and Opinion of Counsel stating that such
supplemental indenture is authorized or permitted by this Indenture.

SECTION 9.7.   Effect of Supplemental Indentures.

     Upon the execution of any supplemental indenture under this Article 9, 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 Debentures of the related series theretofore or thereafter authenticated and
made available for delivery hereunder shall be bound thereby.

                                      -46-
<PAGE>

                                   ARTICLE X

                                  Sinking Funds

SECTION 10.1.  Applicability of Article.

     The provisions of this Article shall be applicable to any sinking fund for
the retirement of Debentures of a series, except as otherwise permitted or
required in or pursuant to this Indenture or any Debenture of such series issued
pursuant to this Indenture.

     The minimum amount of any sinking fund payment provided for by the terms of
Debentures of any series 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 Debentures of such series is herein referred to as an "optional sinking
fund payment." If provided for by the terms of Debentures of any series, the
cash amount of any sinking fund payment may be subject to reduction as provided
in Section 10.2. Each sinking fund payment shall be applied to the redemption of
Debentures of any series as provided for by the terms of Debentures of such
series and this Indenture.

SECTION 10.2.  Satisfaction of Sinking Fund Payments with Debentures.

     The Company may, in satisfaction of all or any part of any sinking fund
payment with respect to the Debentures of any series to be made pursuant to the
terms of such Debentures (a) deliver outstanding Debentures of such series
(other than any of such Debentures previously called for redemption or any of
such Debentures in respect of which cash shall have been released to the
Company), and (b) apply as a credit Debentures of such series which have been
redeemed either at the election of the Company pursuant to the terms of such
series of Debentures or through the application of permitted optional sinking
fund payments pursuant to the terms of such Debentures, provided that such
series of Debentures have not been previously so credited. Such Debentures shall
be received and credited for such purpose by the Trustee at the Redemption Price
specified in such Debentures for redemption through operation of the sinking
fund and the amount of such sinking fund payment shall be reduced accordingly.
If as a result of the delivery or credit of Debentures of any series in lieu of
cash payments pursuant to this Section, the principal amount of Debentures of
such series to be redeemed in order to exhaust the aforesaid cash payment shall
be less than $100,000, the Trustee need not call Debentures of such series for
redemption, except upon a Company Order, and such cash payment shall be held by
the Trustee or a Paying Agent and applied to the next succeeding sinking fund
payment on Debentures of such series, provided, however, that the Trustee or
such Paying Agent shall at the request of the Company from time to time pay over
and deliver to the Company any cash payment so being held by the Trustee or such
Paying Agent upon delivery by the Company to the Trustee of Debentures of that
series purchased by the Company having an unpaid principal amount equal to the
cash payment requested to be released to the Company.

                                      -47-
<PAGE>

SECTION 10.3.  Redemption of Debentures for Sinking Fund.

     Not less than 60 days prior to each sinking fund payment date for any
series of Debentures, the Company shall deliver to the Trustee an Officer's
Certificate specifying the amount of the next ensuing mandatory sinking fund
payment for that series pursuant to the terms of that series, 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 of
Debentures of that series pursuant to Section 10.2, and the optional amount, if
any, to be added in cash to the next ensuing mandatory sinking fund payment, and
will also deliver to the Trustee any Debentures to be so credited and not
theretofore delivered. If such Officer's Certificate shall specify an optional
amount to be added in cash to the next ensuing mandatory sinking fund payment,
the Company shall thereupon be obligated to pay the amount therein specified.
Not less than 30 days before each such sinking fund payment date the Trustee
shall select the Debentures to be redeemed upon such sinking fund payment date
in the manner specified in Section 3.2 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 3.3. Such notice having been duly given, the
redemption of such Debentures shall be made upon the terms and in the manner
stated in Sections 3.4 and 3.6.

                                  ARTICLE XI

                          Meetings of Debentureholders

SECTION 11.1.  Purposes for Which Meetings May Be Called.

     A meeting of Holders of Debentures of any series may be called at any time
and from time to time pursuant to this Article 11 to make, give or take any
request, demand, authorization, direction, notice, consent, waiver or other
action provided by this Indenture to be made, given or taken by Holders of
Debentures of such series.

SECTION 11.2.  Call, Notice and Place of Meetings.

     (a)  The Trustee may at any time call a meeting of Holders of Debentures of
any series for any purpose specified in Section 11.1, to be held at such time
and at such place in the Borough of Manhattan, The City of New York, or in such
other place as the Trustee shall determine. Notice of every meeting of Holders
of Debentures of any series, setting forth the time and the place of such
meeting and in general terms the action proposed to be taken at such meeting,
shall be given, in the manner provided in Section 13.2, not less than 20 nor
more than 180 days prior to the date fixed for the meeting.

     (b)  In case at any time the Company, by or pursuant to a Board Resolution,
or the Holders of at least 25% in principal amount of the outstanding Debentures
of any series shall have requested the Trustee to call a meeting of the Holders
of Debentures of such series for any purpose specified in Section 11.1, by
written request setting forth in reasonable detail the action proposed to be
taken at the meeting, and the Trustee shall not have mailed notice of such
meeting within 20 days after receipt of such request or shall not thereafter
proceed to cause the meeting to be held as provided herein, then the

                                      -48-
<PAGE>

Company or the Holders of Debentures of such series in the amount above
specified, as the case may be, may determine the time and the place for such
meeting and may call such meeting for such purposes by giving notice thereof as
provided in clause (a) of this Section.

SECTION 11.3.  Persons Entitled to Vote at Meetings.

     To be entitled to vote at any meeting of Holders of Debentures of any
series, a Person shall be (a) a Holder of one or more outstanding Debentures of
such series, or (b) a Person appointed by an instrument in writing as proxy for
a Holder or Holders of one or more outstanding Debentures of such series by such
Holder or Holders. The only Persons who shall be entitled to be present or to
speak at any meeting of Holders of Debentures of any series shall be the Persons
entitled to vote at such meeting and their counsel, any representatives of the
Trustee and its counsel and any representatives of the Company and its counsel.

SECTION 11.4.  Quorum; Action.

     The Persons entitled to vote at least a majority in principal amount of the
outstanding Debentures of a series shall constitute a quorum for a meeting of
Holders of Debentures of such series; provided, however, that if any action is
to be taken at such meeting with respect to a consent or waiver which this
Indenture expressly provides may be given by the Holders of more than a majority
in principal amount of the outstanding Debentures of a series, the Persons
entitled to vote such percentage in principal amount of the outstanding
Debentures of such series shall constitute a quorum. In the absence of a quorum
within 30 minutes after the time appointed for any such meeting, the meeting
shall, if convened at the request of Holders of Debentures of such series, be
dissolved. In any other case the meeting may be adjourned for a period of not
less than 10 days as determined by the chairman of the meeting prior to the
adjournment of such meeting. In the absence of a quorum at any such adjourned
meeting, such adjourned meeting may be further adjourned for a period of not
less than 10 days as determined by the chairman of the meeting prior to the
adjournment of such adjourned meeting. Notice of the reconvening of any
adjourned meeting shall be given as provided in Section 11.2(a), except that
such notice need be given only once not less than five days prior to the date on
which the meeting is scheduled to be reconvened. Notice of the reconvening of an
adjourned meeting shall state expressly the percentage, as provided above, of
the principal amount of the outstanding Debentures of such series which shall
constitute a quorum.

     Except as may be limited by Section 9.2, any resolution presented to a
meeting or adjourned meeting duly reconvened at which a quorum is present as
aforesaid may be adopted only by the affirmative vote of the Holders of at least
a majority in principal amount of the outstanding Debentures of that series;
provided, however, that, except as may be limited by Section 9.2, any resolution
with respect to any request, demand, authorization, direction, notice, consent,
waiver or other action which this Indenture or any supplemental indenture
expressly provides may be made, given or taken by the Holders of a specified
percentage in principal amount of the outstanding Debentures of a series may be
adopted at a meeting or an adjourned meeting duly reconvened and at

                                      -49-
<PAGE>

which a quorum is present as aforesaid by the affirmative vote of the Holders of
such specified percentage in principal amount of the outstanding Debentures of
such series.

     Any resolution passed or decision taken at any meeting of Holders of
Debentures of any series duly held in accordance with this Section shall be
binding on all the Holders of Debentures of such series, whether or not such
Holders were present or represented at the meeting.

SECTION 11.5.  Determination of Voting Rights; Conduct and Adjournment of
               Meetings.

     (a)  Notwithstanding any other provisions of this Indenture, the Trustee
may make such reasonable regulations as it may deem advisable for any meeting of
Holders of Debentures of a series in regard to proof of the holding of
Debentures of such series and of the appointment of proxies and in regard to the
appointment and duties of inspectors of votes, the submission and examination of
proxies, certificates and other evidence of the right to vote, and such other
matters concerning the conduct of the meeting as it shall deem appropriate.
Except as otherwise permitted or required by any such regulations, the holding
of Debentures shall be proved in the manner specified in Section 1.5 and the
appointment of any proxy shall be proved in the manner specified in Section 1.5.
Such regulations may provide that written instruments appointing proxies,
regular on their face, may be presumed valid and genuine without the proof
specified in Section 1.5 or other proof.

     (b)  The Trustee shall, by an instrument in writing, appoint a temporary
chairman of the meeting, unless the meeting shall have been called by the
Company or by Holders of Debentures as provided in Section 11.2(b), in which
case the Company or the Holders of Debentures of the series calling the meeting,
as the case may be, shall in like manner appoint a temporary chairman. A
permanent chairman and a permanent secretary of the meeting shall be elected by
vote of the Persons entitled to vote at least a majority in principal amount of
the outstanding Debentures of such series represented at the meeting.

     (c)  At any meeting each Holder of a Debenture of such series or proxy
shall be entitled to one vote for each $25 principal amount of the outstanding
Debentures of such series held or represented by him; provided, however, that no
vote shall be cast or counted at any meeting in respect of any Debenture
challenged as not outstanding and ruled by the chairman of the meeting to be not
outstanding. The chairman of the meeting shall have no right to vote, except as
a Holder of a Debenture of such series or proxy.

     (d)  Any meeting of Holders of Debentures of any series duly called
pursuant to Section 11.2 at which a quorum is present may be adjourned from time
to time by Persons entitled to vote at least a majority in principal amount of
the outstanding Debentures of such series represented at the meeting; and the
meeting may be held as so adjourned without further notice.

                                      -50-
<PAGE>

SECTION 11.6.  Counting Votes and Recording Action of Meetings.

     The vote upon any resolution submitted to any meeting of Holders of
Debentures of any series shall be by written ballots on which shall be
subscribed the signatures of the Holders of Debentures of such series or of
their representatives by proxy and the principal amounts and serial numbers of
the outstanding Debentures of such series held or represented by them. The
permanent chairman of the meeting shall appoint two inspectors of votes who
shall count all votes cast at the meeting for or against any resolution and who
shall make and file with the secretary of the meeting their verified written
reports in duplicate of all votes cast at the meeting. A record, at least in
duplicate, of the proceedings of each meeting of Holders of Debentures of any
series shall be prepared by the secretary of the meeting and there shall be
attached to said record the original reports of the inspectors of votes on any
vote by ballot taken thereat and affidavits by one or more persons having
knowledge of the facts setting forth a copy of the notice of the meeting and
showing that said notice was given as provided in Section 11.2 and, if
applicable, Section 11.4. Each copy shall be signed and verified by the
affidavits of the permanent chairman and secretary of the meeting and one such
copy shall be delivered to the Company, and another to the Trustee to be
preserved by the Trustee, the latter to have attached thereto the ballots voted
at the meeting. Any record so signed and verified shall be conclusive evidence
of the matters therein stated.

                                  ARTICLE XII
                          Subordination of Debentures

SECTION 12.1.  Debentures Subordinate to Senior Indebtedness.

     The Company covenants and agrees, and each Holder of a Debenture, by its
acceptance thereof, likewise covenants and agrees, that, to the extent and in
the manner hereinafter set forth in this Article (subject to the provisions of
Article VIII), the indebtedness represented by the Debentures and the payment of
the principal of, or premium, if any, or interest (including Defaulted Interest,
if any) on, each and all of the Debentures (including, but not limited to, the
Redemption Price with respect to the Debentures to be called for redemption in
accordance with Article III), are hereby expressly made subordinate and subject
in right of payment to the prior payment in full of all Senior Indebtedness.

SECTION 12.2.  No Payment in Certain Circumstances, Payment over of Proceeds
                 upon Dissolution, Etc.

     No payment shall be made with respect to the principal of, or premium, if
any, or interest (including Defaulted Interest, if any) on the Debentures
(including, but not limited to, the Redemption Price with respect to the
Debentures to be called for redemption in accordance with Article III), except
payments and distributions made by the Trustee as permitted by Section 12.9, if:

          (i)    a default in the payment of principal, premium, if any, or
interest (including a default under any repurchase or redemption obligation) or
other amounts with respect to any Senior Indebtedness occurs and is continuing
(or, in the case of Senior

                                      -51-
<PAGE>

Indebtedness for which there is a period of grace, in the event of such a
default that continues beyond the period of grace, if any, specified in the
instrument or lease evidencing such Senior Indebtedness) unless and until such
default shall have been cured or waived or shall have ceased to exist; or

          (ii)   any other event of default occurs and is continuing with
respect to Designated Senior Indebtedness that then permits holders of such
Designated Senior Indebtedness to accelerate its maturity and the Trustee
receives a notice of the default (a "Payment Blockage Notice") from a
Representative or holder of Designated Senior Indebtedness or the Company.

     If the Trustee receives any Payment Blockage Notice pursuant to clause (ii)
above, no subsequent Payment Blockage Notice shall be effective for purposes of
this Section unless and until (A) at least 365 days shall have elapsed since the
initial effectiveness of the immediately prior Payment Blockage Notice, and (B)
all scheduled payments of principal, premium, if any, and interest on the
Debentures that have come due have been paid in full in cash. No nonpayment
default that existed or was continuing on the date of delivery of any Payment
Blockage Notice to the Trustee shall be, or be made, the basis for a subsequent
Payment Blockage Notice.

     The Company may and shall resume payments on and distributions in respect
of the Debentures upon the earlier of:

     (a)  in the case of a default referred to in clause (i) above, the date
upon which the default is cured or waived or ceases to exist, or

     (b)  in the case of a default referred to in clause (ii) above, the date
upon which the default is cured or waived or ceases to exist or 179 days pass
after notice is received if the maturity of such Designated Senior Indebtedness
has not been accelerated, unless this Article 12 otherwise prohibits the payment
or distribution at the time of such payment or distribution.

     In the event of (a) any insolvency or bankruptcy case or proceeding, or any
receivership, liquidation, reorganization or other similar case or proceeding in
connection therewith, relative to the Company or to its creditors, as such, or
to its assets, or (b) any liquidation, dissolution or other winding up of the
Company, whether voluntary or involuntary and whether or not involving
insolvency or bankruptcy, or (c) any assignment for the benefit of creditors or
any other marshaling of assets and liabilities of the Company, then and in any
such event the holders of Senior Indebtedness shall be entitled to receive
payment in full of all amounts due or to become due on or in respect of all
Senior Indebtedness in cash before the Holders of the Debentures are entitled to
receive any payment on account of principal of (or premium, if any) or interest
on the Debentures or on account of the purchase, redemption or other acquisition
of Debentures, and to that end the holders of Senior Indebtedness shall be
entitled to receive, for application to the payment thereof, any payment or
distribution of any kind or character, whether in cash, property or securities,
which may be payable or deliverable in respect of the Debentures in any such
case, proceeding, dissolution, liquidation or other winding up or event.

                                      -52-
<PAGE>

     In the event that, notwithstanding the foregoing provisions of this
Section, the Trustee or the Holder of any Debenture shall have received any
payment or distribution of assets of the Company of any kind or character,
whether in cash, securities or other property, before all Senior Indebtedness is
paid in full, and if such fact shall, at or prior to the time of such payment or
distribution, have been made known to the Trustee or, as the case may be, such
Holder, then and in such event such payment or distribution shall be paid over
or delivered forthwith to the trustee in bankruptcy, receiver, liquidating
trustee, custodian, assignee, agent or other Person making payment or
distribution of assets of the Company for application to the payment of all
Senior Indebtedness remaining unpaid, to the extent necessary to pay all Senior
Indebtedness in full, after giving effect to any concurrent payment or
distribution to or for the holders of Senior Indebtedness.

     For purposes of this Article only, the words "cash, securities or other
property" shall not be deemed to include shares of Capital Stock of the Company
as reorganized or readjusted, or securities of the Company or any other
corporation provided for by a plan of reorganization or readjustment, which
shares of stock or securities are subordinated in right of payment to all then
outstanding Senior Indebtedness to substantially the same extent as, or to a
greater extent than, the Debentures are so subordinated as provided in this
Article. The consolidation of the Company with, or the merger of the Company
into, another Person or the liquidation or dissolution of the Company following
the conveyance or transfer of its properties and assets substantially as an
entirety to another Person upon the terms and conditions set forth in Article V
shall not be deemed a dissolution, winding up, liquidation, reorganization,
assignment for the benefit of creditors or marshaling of assets and liabilities
of the Company for the purposes of this Section if the Person formed by such
consolidation or into which the Company is merged or which acquires by
conveyance or transfer such properties and assets substantially as an entirety,
as the case may be, shall, as a part of such consolidation, merger, conveyance
or transfer, comply with the conditions set forth in Article V.

     In the event that, notwithstanding the foregoing, the Company shall make
any payment to the Trustee or the Holder of any Debenture prohibited by the
foregoing provisions of this Section, and if such fact shall, at or prior to the
time of such payment, have been made known to the Trustee or, as the case may
be, such Holder, then and in such event such payment shall be paid over and
delivered forthwith to the Company, in the case of the Trustee, or the Trustee,
in the case of such Holder.

SECTION 12.3.  Prior Payment to Senior Indebtedness upon Acceleration of the
               Debentures.

     In the event of the acceleration of the Debentures because of an Event of
Default, no payment or distribution shall be made to the Trustee or any holder
of Debentures in respect of the principal of, premium, if any, or interest on
the Debentures (including, but not limited to, the Redemption Price with respect
to the Debentures called for redemption in accordance with Article III), except
payments and distributions made by the Trustee as permitted by Section 12.9,
until all Senior Indebtedness has been paid in full in cash or other payment
satisfactory to the holders of Senior Indebtedness or such acceleration is
rescinded in accordance with the terms of this Indenture. If payment of the
Debentures is accelerated because of an Event of Default, the Company shall
promptly notify holders of Senior Indebtedness of the acceleration.

                                      -53-
<PAGE>

SECTION 12.4.  Payment Permitted If No Default.

     Nothing contained in this Article or elsewhere in this Indenture or in any
of the Debentures shall prevent (a) the Company, at any time except during the
pendency of any case, proceeding, dissolution, liquidation or other winding up,
assignment for the benefit of creditors or other marshaling of assets and
liabilities of the Company referred to in Section 12.2, or during the
circumstances referred to in the first paragraph of Section 12.2, or under the
conditions described in Section 12.3, from making payments at any time of
principal of (and premium, if any) or interest on the Debentures, or (b) the
application by the Trustee of any money deposited with it hereunder to the
payment of or on account of the principal of (and premium, if any) or interest
on the Debentures or the retention of such payment by the Holders, if, at the
time of such application by the Trustee, it did not have knowledge that such
payment would have been prohibited by the provisions of this Article.

SECTION 12.5.  Subrogation to Rights of Holders of Senior Indebtedness.

     Subject to the payment in full of all Senior Indebtedness, the Holders of
the Debentures shall be subrogated to the extent of the payments or
distributions made to the holders of such Senior Indebtedness pursuant to the
provisions of this Article to the rights of the holders of such Senior
Indebtedness to receive payments and distributions of cash, property and
securities applicable to the Senior Indebtedness until the principal of (and
premium, if any) and interest on the Debentures shall be paid in full. For
purposes of such subrogation, no payments or distributions to the holders of the
Senior Indebtedness of any cash, property or securities to which the Holders of
the Debentures or the Trustee would be entitled except for the provisions of
this Article, and no payments over pursuant to the provisions of this Article to
the holders of Senior Indebtedness by Holders of the Debentures or the Trustee,
shall, as among the Company, its creditors other than holders of Senior
Indebtedness and the Holders of the Debentures, be deemed to be a payment or
distribution by the Company to or on account of the Senior Indebtedness.

SECTION 12.6.  Provisions Solely to Define Relative Rights.

     The provisions of this Article are and are intended solely for the purpose
of defining the relative rights of the Holders of the Debentures on the one hand
and the holders of Senior Indebtedness on the other hand. Nothing contained in
this Article or elsewhere in this Indenture or in the Debentures is intended to
or shall (i) impair, as among the Company, its creditors other than holders of
Senior Indebtedness and the Holders of the Debentures, the obligation of the
Company, which is absolute and unconditional, to pay to the Holders of the
Debentures the principal of (and premium, if any) and interest on the Debentures
as and when the same shall become due and payable in accordance with their
terms; (ii) affect the relative rights against the Company of the Holders of the
Debentures and creditors of the Company other than the holders of Senior
Indebtedness; or (iii) prevent the Trustee or the Holder of any Debenture from
exercising all remedies otherwise permitted by applicable law upon default under
this Indenture, subject to the rights, if any, under this Article of the holders
of Senior Indebtedness to receive cash, property and securities otherwise
payable or deliverable to the Trustee or such Holder.

                                      -54-
<PAGE>

SECTION 12.7.  Trustee to Effectuate Subordination.

     Each Holder of a Debenture by its acceptance thereof authorizes and directs
the Trustee on its behalf to take such action as may be necessary or appropriate
to effectuate the subordination provided in this Article and appoints the
Trustee its attorney-in-fact for any and all such purposes.

SECTION 12.8.  No Waiver of Subordination Provisions.

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

     Without in any way limiting the generality of the foregoing paragraph, the
holders of Senior Indebtedness may, at any time and from time to time, without
the consent of or notice to the Trustee or the Holders of the Debentures,
without incurring responsibility to the Holders of the Debentures and without
impairing or releasing the subordination provided in this Article or the
obligations hereunder of the Holders of the Debentures to the holders of Senior
Indebtedness, do any one or more of the following: (i) change the manner, place
or terms of payment or extend the time of payment of, or renew or alter, Senior
Indebtedness, or otherwise amend or supplement in any manner Senior Indebtedness
or any instrument evidencing the same or any agreement under which Senior
Indebtedness is outstanding; (ii) sell, exchange, release or otherwise deal with
any property pledged, mortgaged or otherwise securing Senior Indebtedness; (iii)
release any Person liable in any manner for the collection of Senior
Indebtedness; and (iv) exercise or refrain from exercising any rights against
the Company and any other Person.

SECTION 12.9.  Notice to Trustee.

     The Company shall give prompt written notice to the Trustee of any fact
known to the Company that would prohibit the making of any payment to or by the
Trustee in respect of the Debentures. Notwithstanding the provisions of this
Article or any other provision of this Indenture, the Trustee shall not be
charged with knowledge of the existence of any facts which would prohibit the
making of any payment to or by the Trustee in respect of the Debentures, unless
and until a Responsible Officer of the Trustee shall have received written
notice thereof from the Company or a Representative or a holder of Senior
Indebtedness (including, without limitation, a holder of Designated Senior
Indebtedness) and, prior to the receipt of any such written notice, the Trustee,
subject to the provisions of Section 7.1, shall be entitled in all respects to
assume that no such facts exist; provided, however, that if the Trustee shall
not have received the notice provided for in this Section 12.9 at least two
Business Days prior to the date upon which by the terms hereof any money may
become payable for any purpose (including, without limitation, the payment of
the principal of (and premium, if any) or interest (including Defaulted
Interest, if any) on any Debenture), then, anything herein contained to the
contrary notwithstanding, the Trustee shall have full power and authority to
receive such

                                      -55-
<PAGE>

money and to apply the same to the purpose for which such money was received and
shall not be affected by any notice to the contrary which may be received by it
within one Business Day prior to such date.

     Notwithstanding anything in this Article XII to the contrary, nothing shall
prevent any payment by the Trustee to the Holders of monies deposited with it
pursuant to Section 8.1, and any such payment shall not be subject to the
provisions of Section 12.2 or 12.3.

     Subject to the provisions of Section 7.1, the Trustee shall be entitled to
rely on the delivery to it of a written notice by a Person representing himself
to be a Representative or a holder of Senior Indebtedness (including, without
limitation, a holder of Designated Senior Indebtedness) to establish that such
notice has been given by a Representative or a holder of Senior Indebtedness
(including, without limitation, a holder of Designated Senior Indebtedness). In
the event that the Trustee determines in good faith that further evidence is
required with respect to the right of any Person as a holder of Senior
Indebtedness to participate in any payment or distribution pursuant to this
Article, the Trustee may request such Person to furnish evidence to the
reasonable satisfaction of the Trustee as to the amount of Senior Indebtedness
held by such Person, the extent to which such Person is entitled to participate
in such payment or distribution and any other facts pertinent to the rights of
such Person under this Article, and if such evidence is not furnished, the
Trustee may defer any payment to such Person pending judicial determination as
to the right of such Person to receive such payment.

SECTION 12.10. Reliance on Judicial Order or Certificate of Liquidating Agent.

     Upon any payment or distribution of assets of the Company referred to in
this Article, the Trustee, subject to the provisions of Section 7.1, and the
Holders of the Debentures shall be entitled to rely upon any order or decree
entered by any court of competent jurisdiction in which such insolvency,
bankruptcy, receivership, liquidation, reorganization, dissolution, winding up
or similar case or proceeding is pending, or a certificate of the trustee in
bankruptcy, receiver, liquidating trustee, custodian, assignee for the benefit
of creditors, agent or other Person making such payment or distribution,
delivered to the Trustee or to the Holders of Debentures, for the purpose of
ascertaining the Persons entitled to participate in such payment or
distribution, the holders of the Senior Indebtedness and other indebtedness of
the Company, the amount thereof or payable thereon, the amount or amounts paid
or distributed thereon and all other facts pertinent thereto or to this Article.

SECTION 12.11. Trustee Not Fiduciary for Holders of Senior Indebtedness.

     The Trustee shall not be deemed to owe any fiduciary duty to the holders of
Senior Indebtedness and shall not be liable to any such holders if it shall in
good faith mistakenly pay over or distribute to Holders of Debentures or to the
Company or to any other Person cash, property or securities to which any holders
of Senior Indebtedness shall be entitled by virtue of this Article or otherwise.

                                      -56-
<PAGE>

SECTION 12.12. Reliance by Holders of Senior Indebtedness on Subordination
               Provisions.

     Each Holder by accepting a Debenture acknowledges and agrees that the
foregoing subordination provisions are, and are intended to be, an inducement
and a consideration to each holder of any Senior Indebtedness, whether such
Senior Indebtedness was created or acquired before or after the issuance of the
Debentures, to acquire and continue to hold, or to continue to hold, such Senior
Indebtedness and such holder of Senior Indebtedness shall be deemed conclusively
to have relied on such subordination provisions in acquiring and continuing to
hold, or in continuing to hold, such Senior Indebtedness, and no amendment or
modification of the provisions contained herein shall diminish the rights of
such holders of Senior Indebtedness unless such holders shall have agreed in
writing thereto.

SECTION 12.13. Rights of Trustee as Holder of Senior Indebtedness; Preservation
               of Trustee's Rights.

     The Trustee in its individual capacity shall be entitled to all the rights
set forth in this Article with respect to any Senior Indebtedness which may at
any time be held by it, to the same extent as any other holder of Senior
Indebtedness, and nothing in this Indenture shall deprive the Trustee of any of
its rights as such holder.

     Nothing in this Article shall apply to claims of, or payments to, the
Trustee under or pursuant to Section 7.7.

SECTION 12.14. Article Applicable to Paying Agents.

     In case at any time any Paying Agent other than the Trustee shall have been
appointed by the Company and be then acting hereunder, the term "Trustee" as
used in this Article shall in such case (unless the context otherwise requires)
be construed as extending to and including such Paying Agent within its meaning
as fully for all intents and purposes as if such Paying Agent were named in this
Article in addition to or in place of the Trustee; provided, however, that
Section 12.13 shall not apply to the Company or any Affiliate of the Company if
it or such Affiliate acts as Paying Agent.

                                 ARTICLE XIII
                                 Miscellaneous

SECTION 13.1.  Trust Indenture Act Controls.

     If any provision of this Indenture limits, qualifies or conflicts with the
duties imposed by operation of Section 318(c) of the TIA, the imposed duties
shall control. The provisions of Sections 310 to 317, inclusive, of the TIA that
impose duties on any Person (including provisions automatically deemed included
in an indenture unless the indenture provides that such provisions are excluded)
are a part of and govern this Indenture, except as, and to the extent, they are,
expressly excluded from this Indenture, as permitted by the TIA.

                                      -57-
<PAGE>

SECTION 13.2.  Notices.

     Any notice, request or other communication required or permitted to be
given hereunder shall be in writing and delivered in person, by first-class
mail, postage prepaid, telecopier or overnight air courier guaranteeing next day
delivery, addressed as follows:

     if to the Company:

     Anthem, Inc.
     120 Monument Circle
     Indianapolis, Indiana 46204
     Attention:
     Fax:

     with a copy to:

     Baker & Daniels
     Suite 2700
     300 North Meridian Street
     Indianapolis, Indiana 46204
     Attention:
     Fax:

     if to the Trustee:

     Attention:
     Fax:

     with a copy to:

     Attention:
     Fax:

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

     Any notice or communication given to a Debentureholder shall be mailed or
delivered to the Debentureholder at the Debentureholder's address as it appears
on the Register of the Registrar and shall be sufficiently given if mailed
within the time prescribed. Any notice or communication shall also be so mailed
to any person described in TIA Section 313(c) to the extent required by the TIA.

     Failure to give a notice or communication to a Debentureholder or any
defect in it shall not affect its sufficiency with respect to other
Debentureholders. If a notice or communication is given in the manner provided
above, it is duly given, whether or not received by the addressee.

                                      -58-
<PAGE>

     Any notice or communication to the Trustee shall be deemed to have been
duly given when received by the Corporate Trust Office of the Trustee.

     If the Company gives a notice or communication to the Debentureholders, it
shall deliver a copy to the Trustee and each Registrar, Paying Agent or co-
Registrar.

     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 Debentureholders 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.

SECTION 13.3.  Communication by Holders with Other Holders.

     Debentureholders may communicate pursuant to Section 312(b) of the TIA with
other Debentureholders with respect to their rights under this Indenture or the
Debentures. The Company, the Trustee, the Registrar, the Paying Agent and anyone
else shall have the protection under Section 312(c) of the TIA.

SECTION 13.4.  Certificate and Opinion as to Conditions Precedent.

     Upon any request or application by the Company to the Trustee to take any
action under this Indenture, the Company shall furnish to the Trustee:

     (a)  an Officer's Certificate (complying with Section 13.5) stating that,
  in the opinion of such Officer, all conditions precedent to the taking of such
  action have been complied with; and

     (b)  if applicable, an Opinion of Counsel (complying with Section 13.5)
  stating that, in the opinion of such counsel all such conditions precedent to
  the taking of such action have been complied with.

SECTION 13.5.  Statements Required in Certificate or Opinion.

     Each Officer's Certificate and Opinion of Counsel with respect to
compliance with a covenant or condition provided for in this Indenture (other
than a certificate provided pursuant to TIA Section 314(a)(4)) shall comply with
the provisions of TIA Section 314(e) and shall include:

     (a)  a statement that each Person making such Officer's Certificate or
  Opinion of Counsel has read such covenant or condition;

     (b)  a brief statement as to the nature and scope of the examination or
  investigation upon which the statements or opinions contained in such
  Officer's Certificate or Opinion of Counsel are based;

     (c)  a statement that, in the opinion of such Person, such Person has made
  such examination or investigation as is necessary to enable such Person to
  express an

                                      -59-
<PAGE>

  informed opinion as to whether or not such covenant or condition has been
  complied with; and

     (d)  a statement that, in the opinion of such Person, such covenant or
  condition has been complied with; provided, however, that with respect to
  matters of fact not involving any legal conclusion, an Opinion of Counsel may
  rely on an Officer's Certificate or certificates of public officials.

SECTION 13.6.  Severability Clause.

     If any provision in this Indenture or in the Debentures 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 13.7.  Rules by Trustee, Paying Agent and Registrar.

     The Trustee may make reasonable rules for action by or a meeting of
Debentureholders. The Registrar and Paying Agent may make reasonable rules for
their functions.

SECTION 13.8.  Legal Holidays.

     A "Legal Holiday" is any day other than a Business Day. If any specified
date (including a date for giving notice) is a Legal Holiday, the action to be
taken on such date shall be taken on the next succeeding day that is not a Legal
Holiday, and if such action is a payment in respect of the Debentures, unless
other wise specified pursuant to Section 2.1 no principal, premium, if any, or
interest shall accrue in respect of such payment for the intervening period.

SECTION 13.9.  Governing Law.

     THIS INDENTURE AND THE DEBENTURES SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO ITS
PRINCIPLES OF CONFLICTS OF LAWS.

SECTION 13.10. No Recourse Against Others.

     No director, officer, employee or stockholder, as such, of the Company
shall have any liability for any obligations of the Company under the Debentures
or this Indenture or for any claim based on, in respect of or by reason of such
obligations. By accepting a Debenture, each Debentureholder shall waive and
release all such liability. The waiver and release shall be part of the
consideration for the issuance and sale of the Debentures.

                                      -60-
<PAGE>

SECTION 13.11. Successors and Assigns.

     All agreements of the Company in this Indenture and Debentures shall bind
its successors and assigns. All agreements of the Trustee in this Indenture
shall bind its successors and assigns.

SECTION 13.12. Counterparts.

     The parties may sign any number of copies of this Indenture. Each signed
copy shall be an original, but all of them together represent the same
agreement. Any signed copy shall be sufficient proof of this Indenture.

SECTION 13.13. No Adverse Interpretation of Other Agreements.

     This Indenture may not be used to interpret another indenture, loan or debt
agreement of the Company or any Subsidiary or of any other Person. Any such
indenture, loan or debt agreement may not be used to interpret this Indenture.

SECTION 13.14. Table of Contents, Headings, Etc.

     The Table of Contents, Cross-Reference Table and headings of the Articles
and Sections of this Indenture have been inserted for convenience of reference
only, are not to be considered a part hereof, and shall in no way modify or
restrict any of the terms or provisions hereof.

SECTION 13.15. Benefits of the Indenture.

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

                 [remainder of page intentionally left blank]

                                      -61-
<PAGE>

                                  SIGNATURES

     IN WITNESS WHEREOF, the undersigned, being duly authorized, have executed
this Indenture on behalf of the respective parties hereto as of the date first
above written.

                                         ANTHEM, INC.,
                                           as Issuer

                                         By: ___________________________
                                             Name:
                                             Title:

Attest:

_____________________

                                         ___________,
                                          as Trustee

                                         By: ___________________________
                                             Name:
                                             Title:

Attest:

_____________________

<PAGE>

State of                   )
                           )  ss.:
County of                  )

          On the .... day of ..........., 2001, before me personally came
 ..........................., to me known, who, being by me duly sworn, did
depose and say that he is .................... of Anthem, Inc., 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.

                                               ...............................

<PAGE>

State of                   )
                           )  ss.:
County of                  )

          On the .... day of ..........., 2001, 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.

                                               ...............................

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00030-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00030-of-00352.parquet"}]]