Document:

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                                    FIRSTBANK

                PROFIT SHARING AND EMPLOYEE STOCK OWNERSHIP PLAN

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                                    ARTICLE I

                            PURPOSE OF PLAN AND TRUST

                  The Company by execution of this agreement, amends and
restates its defined contribution employee stock ownership plan and trust known
as the FirstBank Profit Sharing and Employee Stock Ownership Plan. The Plan and
Trust are created for the exclusive benefit of Employee-Participants and their
Beneficiaries. The Plan is made up of two portions, one of which constitutes a
profit-sharing plan and the other of which constitutes an employee stock
ownership plan. The Plan is intended to qualify under Internal Revenue Code
Section 401(a) and the Trust is intended to be exempt under Internal Revenue
Code Section 501(a). The portion of the Plan which is intended to constitute an
employee stock ownership plan is designed to invest primarily in Qualifying
Employer Securities and that portion of the Plan is intended to constitute an
ESOP. All Qualifying Employer Securities held by the Plan automatically will be
held in the ESOP portion of the Plan.

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                                   ARTICLE II

                                   DEFINITIONS

                  When used herein, the following words will have the following
meanings, unless the context clearly indicates otherwise:

2.1      "ACCOUNT," unless otherwise indicated, means a Participant's entire
interest in the Trust Fund. A Participant's Account will consist of
sub-accounts, one for the portion of the Participant's Account which is
attributable to the ESOP portion of the Plan (the "ESOP Account"), and one for
the portion of the Participant's Account which is attributable to the non-ESOP
portion of the Plan (the "Profit-Sharing Account").

2.2      "BENEFICIARY" means the person who, under this Plan, becomes entitled
to receive a Participant's Account upon his or her death.

2.3      "BREAK IN SERVICE" means any Plan Year during which an Employee has
completed no more than 500 Hours of Service.

2.4      "BOARD OF DIRECTORS" means the Board of Directors of the Company.

2.5      "CODE" means the Internal Revenue Code of 1986, as amended, as it
presently is constituted, as it may be amended, or any successor statute of
similar purpose.

2.6      "COMMITTEE" means the person or persons appointed by the Board of
Directors whose duties are specified in this Plan and Trust.

2.7      "COMPANY" means FirstBank, or any successor in interest resulting
from merger, consolidation, or transfer of substantially all assets that
expressly may agree in writing to continue this Plan, including Access Anytime
Bancorp, Inc.

2.8      "COMPENSATION" means the total amount paid to a Participant for
services rendered to the Company during the entire Plan Year that is reported
as wages on the Participant's Form W-2 for income tax purposes for such year
regardless of the date the Participant entered the Plan.

In addition, amounts that are not currently includible in the Employee's gross
income by reason of the application of Code Sections 125, 402(e)(3),
402(h)(1)(B), and 402(b), will be included in the Participant's Compensation for
purposes of this Plan.

Pursuant to Code Section 401(a)(17), Compensation taken into account for all
purposes under this Plan shall not exceed [A] $200,000 (as adjusted by the
Secretary of the Treasury for cost of living increases each year) for any Plan
Year for Plan Years beginning prior to January 1, 1994, and

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[B] $150,000 (as adjusted by the Secretary of the Treasury for cost of living
increases each year) for any Plan Year (which amount is $160,000 for 1999 and
$170,000 for 2000.) If Compensation is determined for any period of fewer than
twelve months, the Code Section 401(a)(17) limitation will be multiplied by a
fraction, the numerator of which is the number of calendar months in the
determination period and the denominator of which is twelve.

Compensation will be recognized under this Plan only from the Participant's
effective date of participation in this Plan.

2.9      "EARLY RETIREMENT DATE" means the first day of the month (prior to
the Normal Retirement Date) coinciding with or following the date on which a
Participant attains age 60 and has completed at least 6 Years of Service with
the Company (Early Retirement Age).

2.10     "EFFECTIVE DATE" of this restated Plan is January 1, 2000, except as
otherwise provided.

2.11     "ELIGIBILITY COMPUTATION PERIOD" means the 12-consecutive-month
period beginning on the Employee's Employment Commencement Date or
Reemployment Commencement Date, or the Plan Year that begins during the
Employee's first 12-month period of employment or any subsequent Plan Year. An
Employee who is credited with a Year of Service for both the initial
Eligibility Computation Period and for the Plan Year commencing during that
initial Eligibility Computation Period will be credited with two Years of
Service for purposes of eligibility to participate in this Plan.

2.12     "EMPLOYEE" means any person now or hereafter employed by the Company,
including officers of the Company but excluding independent contractors and
any directors who are not employed by the Company in any other capacity.
"Independent contractor" means any individual treated as an independent
contractor in the records of the Company, regardless of any later
reclassification of such individual for any reason.

2.13     "EMPLOYMENT COMMENCEMENT DATE" means the date on which an Employee
first performs an Hour of Service for the Company.

2.14     "ERISA" means the Employee Retirement Income Security Act of 1974, as
amended, as it is presently constituted, as it may be amended, or any
successor statute of similar purpose.

2.15     "HIGHLY COMPENSATED EMPLOYEE," for Plan Years beginning on or after
January 1, 1997, and subsequent Plan Years, any Employee who:

                  [a]      was a five percent owner at any time during the
                           Determination Year or the Look-Back Year; or

                  [b]      for the Look-Back Year, had annual compensation in
                           excess of $80,000 (as adjusted by the Secretary of
                           the Treasury for cost of living increases).

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         For purposes of this definition, the Determination Year shall be the
         Plan Year. The Look-Back Year shall be the twelve-month period
         immediately preceding the Determination Year.

         In determining an individual's Compensation under this Section,
         Compensation from each Employer required to be aggregated under Code
         Sections 414(b), (c), (m), and (o) will be taken into account.

         A former Employee will be treated as a Highly Compensated Employee if
         such Employee separated from service (or was deemed to have separated)
         prior to the Plan Year, performs no service for the Company during the
         Plan Year, and was a Highly Compensated Employee for either the
         separation year or any Plan Year ending on or after the Employee's 55th
         birthday.

         The determination of who is a Highly Compensated Employee, including
         the determination of the number and identity of Employees in the
         top-paid group, and the Compensation that is considered, will be made
         in accordance with Code Section 414(q).

         An Employee is a Highly Compensated Employee for a particular Plan Year
         if he or she meets the definition of a Highly Compensated Employee in
         effect for that Plan Year, Similarly, an Employee is a Non-Highly
         Compensated Employee for a particular Plan Year if he or she does not
         meet the definition of a Highly Compensated Employee in effect for that
         Plan Year.

2.16     "HOUR OF SERVICE" means:

         [a]      Each hour for which an Employee is directly or indirectly
paid or entitled to payment by the Company for the performance of duties.
These hours will be credited to the Employee for the Plan Year in which the
duties are performed; and

         [b]      Each hour for which an Employee is paid, or entitled to
payment, by the Company on account of a period of time during which no duties
are performed (whether or not the employment relationship has terminated) due
to vacation, holiday, sick leave, incapacity, disability, layoff, jury duty,
military duty, or leave of absence. No more than 501 Hours of Service will be
credited under this paragraph for any single continuous period during which
the Employee performs no duties. Hours will not be credited for payments that
reimburse an Employee solely for medical or medically related expenses
incurred by the Employee. Hours will not be credited for payments made or due
under a plan maintained solely for the purpose of complying with applicable
worker's compensation or disability insurance laws. A payment will be deemed
to be made by or due from the Company regardless of whether the payment is
made by or due from the Company directly or indirectly through a Trust Fund or
insurer to which the Company contributes or pays premiums. Hours under this

                                     -4-

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paragraph will be calculated and credited pursuant to 29 C.F.R. Section
2530.200b-2, which regulations are incorporated by this reference; and

         [c]      Each hour for which back pay, irrespective of mitigation of
damages, is either awarded or agreed to by the Company. The same Hours of
Service will not be credited both under paragraph [a] or paragraph [b], as the
case may be, and under this paragraph [c]. These hours will be credited to the
Employee for the computation period or periods to which the award or agreement
pertains rather than the computation period in which the award, agreement, or
payment is made; and

         [d]      Employment with any affiliated companies (whether or not
incorporated) that are members of a controlled group as defined in Code
Section 414(b), that are under common control as defined in Code Section
414(c), or that are members of an affiliated service group within the meaning
of Code Section 414(m) or any other entity required to be aggregated with the
Company pursuant to Code Section 414(o) and the final regulations thereunder,
will be treated as employment with the Company for purposes of participation
and vesting under this Plan; and

         [e]      For all purposes of the Plan, Hours of Service will be
credited for any individual considered a Leased Employee under Code Section
414(n) and for any individual considered an Employee under Code Section 414(o)
and the final regulations thereunder; and

         [f]      For purposes of vesting and participation, solely to the
extent required by law, Hours of Service will include any period for which an
Employee is absent from work because of a leave covered by the provisions of
the Family and Medical Leave Act, 26 U.S.C. Section 2612(a)(1) and the
regulations thereunder; and

         [g]      Solely for purposes of determining whether a Break in
Service for purposes of participation or vesting has occurred, an Employee who
is absent from work because of pregnancy of the Employee, birth of a child of
the Employee, placement of a child in connection with adoption of the child by
the Employee, or caring for a child of the Employee during the period
immediately following birth or placement for adoption, will be credited with
the Hours of Service that would have been credited had the absence not
occurred with the following restrictions: [1] if the hours cannot be
determined, the Employee will be credited with eight Hours of Service for each
day of absence; and [2] hours will be credited in the computation period in
which the absence began if and only insofar as required to prevent a Break in
Service in that period and if not so required then in the following period
insofar as required to prevent a Break in Service in that period. Credit will
not be given if the Employee fails to provide the Plan Administrator such
timely information reasonably required to determine the purpose or length of
the absence for the reasons described above; and

2.17     "LATE RETIREMENT DATE" means the first day of the month coinciding
with or next following a Participant's actual retirement after having reached
his Normal Retirement Date.

2.18     "LEASED EMPLOYEE" means any person (other than an Employee of the
Company) who has performed services for the Company (or for the Company and
related persons as determined under Code Section 414(n)(6)) under an agreement
between the Company and the leasing organization on

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a substantially full-time basis for a period of at least one year and, in the
Company's business field, the services are of a type historically performed by
employees. Any Leased Employee will be treated as an employee of the Company
for purposes of this Plan and any contributions or benefits provided by the
leasing organizations that are attributable to the services performed for the
Company will be treated as provided under a plan maintained by the Company,
provided, however, that a Leased Employee will not be treated as employed by
the Company if the Leased Employee is covered by a money purchase pension plan
maintained by the leasing organization that provides [a] a nonintegrated
employer contribution of at least 10% of compensation, as defined in Code
Section 415(c)(3), including amounts contributed pursuant to a salary
reduction agreement that are excludible from the employee's gross income under
Code Sections 125, 402(e)(3), 402(h) or 403(b); [b] immediate participation
(unless the individual has had compensation of less than $1000.00 in each of
the preceding four plan years ending with the current plan year); and [c] full
and immediate vesting. In addition, Leased Employees may not constitute more
than 20 percent of the leasing organization's non-Highly Compensated
Employees. Notwithstanding the above, Leased Employees will not be eligible to
participate in this Plan.

2.19     "NORMAL RETIREMENT AGE" means age 65.

2.20     "PARTICIPANT" means any Employee who has become a Participant under
Article III of this Plan.

2.21     "PLAN" and "PLAN AND TRUST" mean the Plan and Trust set forth in and
by this document and all subsequent amendments thereto.

2.22     "PLAN ADMINISTRATOR" means the person appointed by the Company whose
duties and responsibilities are specified in this Plan and Trust. If no Plan
Administrator is appointed by the Company, the Plan Administrator will be
deemed to be the Company.

2.23     "PLAN YEAR" means a twelve consecutive month period commencing on
January 1 and ending on the following December 31 of each year.

2.24     "QUALIFYING EMPLOYER SECURITY" means common stock issued by the
Company or any of its affiliates and transferred to this Plan, subject to the
requirements of ERISA Section 407 and Code Section 409(l). Under Code Section
409(l), if no common stock of the Company is readily tradeable on an
established securities market, the Qualifying Employer Security must be the
common stock issued by the Company or any controlled group member with the
Company which has a combination of voting power and dividend rights equal to
or in excess of [a] that class of common stock of the Company (or of any other
such corporation) having the greatest voting power, and [b] that class of
common stock of the Company (or of any other such corporation) having the
greatest dividend rights. Noncallable preferred stock will be deemed to be
"Qualifying Employer Securities" if such stock is convertible at any time into
stock which constitutes "Qualifying Employer Securities" under this section
and if such conversion is at a conversion price which (as of the date of the
acquisition by the Plan) is reasonable. For purposes of the preceding
sentence, and pursuant to Regulations, preferred

                                     -6-

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stock will be treated as noncallable if, after the call, there will be a
reasonable opportunity for a conversion which meets the requirements of the
preceding sentence.

2.25     "QES ACCOUNT" means the account of a Participant which is credited
with the shares of Qualifying Employer Securities purchased and paid for by
the Plan or contributed to the Plan. A separate accounting will be maintained
with respect to that portion of the QES Account attributable to elective
deferral contributions and non-elective deferral contributions.

2.26     "REEMPLOYMENT COMMENCEMENT DATE" means the date on which an Employee
completes an Hour of Service with the Company after a Break in Service
following an Eligibility Computation Period during which the Employee
completed more than 500 Hours of Service.

2.27     "TRUSTEE" means the person or persons appointed by the Company as the
Trustee of the Trust Fund established by this Plan and Trust and any duly
appointed and qualified successor Trustee.

2.28     "YEAR OF SERVICE" for purposes of eligibility to participate means an
Eligibility Computation Period during which the Employee completes 1,000 or
more Hours of Service. For all other purposes of the Plan, "Year of Service"
means a Plan Year in which the Employee completes 1,000 or more Hours of
Service. Years of Service with First Federal Savings and Loan Association of
Clovis, New Mexico, during the period in which a qualified plan was maintained
will be credited as Years of Service under this Plan. For asset or stock
acquisitions completed prior to July 1, 1999, an individual who transfers
employment from the acquired company to the Company will not receive credit
for service with the acquired company for purposes of determining Years of
Service for vesting and eligibility purposes under this Plan unless prior
service credit is granted under a specific amendment to the Plan. For asset or
stock acquisitions completed on or after July 1, 1999, an individual who
transfers employment from the acquired company to the Company will receive
credit for service with the acquired company for purposes of determining Years
of Service for vesting and eligibility purposes under this Plan.

                                     -7-

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                                   ARTICLE III

                                  PARTICIPATION

3.1      PARTICIPATION: Any Employee who is a Participant in this Plan as of
the Effective Date of this Plan will remain a Participant in this Plan. Any
other or new Employee will become a Participant as of the Employee's
Employment Commencement Date, or Reemployment Commencement Date, provided that
the Employee then is at least 21 years of age.

3.2      DETERMINATION OF PARTICIPANTS: As of the most recent Effective Date
and before each Entry Date of the Plan, the Committee will determine which
Employees will become Participants.

3.3      PARTICIPATION UPON REEMPLOYMENT: An Employee or former Participant
who has satisfied the participation requirements will become a Participant
immediately upon his or her Reemployment Commencement Date.

3.4      TERMINATION OF PARTICIPATION: Participation will cease upon the
complete distribution of a Participant's vested Account balance.

3.5      MILITARY SERVICE: Effective for reinstatement of employment initiated
after December 12, 1994, notwithstanding any provision of this Plan to the
contrary, contributions, benefits and service credit with respect to qualified
military service will be provided in accordance with Code Section 414(u).

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                                   ARTICLE IV

                                  CONTRIBUTIONS

4.1      COMPANY CONTRIBUTIONS:

         [a]      DISCRETIONARY COMPANY PROFIT SHARING CONTRIBUTION: The board
of directors of the Company, in its sole discretion, may authorize the Company
to make profit-sharing contributions (a "Profit-Sharing Contribution") for any
Plan Year. Such Profit-Sharing Contribution will be set forth as a percentage
of each Participant's Compensation for such Plan Year. The Profit-Sharing
Contribution will be made to the Profit-Sharing Accounts in the Plan, unless
such Profit-Sharing Contribution is designated by the Company as a
contribution to the ESOP Accounts in the Plan.

         [b]      DISCRETIONARY COMPANY MATCHING CONTRIBUTIONS: The Company
will make matching contributions ("Matching Contributions") to the Plan on
behalf of Participants, in the following amounts: If the Participant elects,
pursuant to Section 12.7, to invest all or any portion of his or her salary
reduction contributions for any Plan Year in Qualifying Employer Securities,
and such salary reduction contributions remain invested in Qualifying Employer
Securities as of the last day of the Plan Year, the Matching Contribution for
such Participant for the Plan Year will equal a percentage (such percentage to
be determined by the Company each Plan Year) of each $1.00 of salary reduction
contributions for the Plan Year which are so invested in Qualifying Employer
Securities. If the Participant elects, pursuant to Section 12.7, to invest all
or any portion of his or her salary reduction contributions for any Plan Year
in investments other than Qualifying Employer Securities, or if such salary
reduction contributions which were invested in Qualifying Employer Securities
during the Plan Year are invested in other assets as of the last day of the
Plan Year, the Matching Contribution for such Participant for the Plan Year
will equal 50% of the percentage determined for contributions which are
invested in Qualifying Employer Securities. The Matching Contribution will be
made to the Profit-Sharing Accounts in the Plan, unless such Matching
Contribution is designated by the Company as a contribution to the ESOP
Accounts in the Plan.

         [c]      DETERMINATION, TIME AND FORM OF COMPANY CONTRIBUTION: The
determination of whether any Matching Contributions or Profit-Sharing
Contributions will be made to the Plan for any Plan Year will be made by a
resolution for the Board of Directors, which will be adopted by the time for
filing the Company's corporate income tax return (including any extensions)
for the year. The total amount of the Company's contributions shall not exceed
15% of the aggregate Compensation of all Participants eligible to share in
Company contributions under this Plan in the year for which the contribution
is being determined, except as provided in section 4.1[d]. Company
contributions for any Plan Year may be paid to the Trustee in one sum or in
several installments on

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any date or dates the Company elects, provided that the Company contribution
for any year is paid in full before the date prescribed by law for filing the
tax returns for the Company's taxable year including extensions for which
application has been timely made; provided, however, that the Company
contribution for any Plan Year is paid in full to the Trustee prior to or
coincident with the date the Company's tax return actually is filed. Such
contribution may be made in cash or in property in which the Trustee is
authorized to invest the Trust Fund, or both, subject to any restrictions or
limitations provided in the prohibited transaction provisions of the Code and
ERISA. Contributions of property other than cash will be subject to the
approval of the Trustee and the Committee. If an investment manager has been
appointed, contributions of property other than cash will be subject to his or
her approval in lieu of Trustee approval. Elective deferrals shall be paid to
the Trust as soon as administratively reasonable but in no event later than
the 15th business day of the month following the month in which the elective
deferrals were withheld from the paychecks.

         [d]      CARRYOVER CONTRIBUTIONS: Any amount contributed in any of
the Company's taxable years in excess of the amount then deductible under Code
Section 404 may be applied to and deductible in the succeeding taxable year or
years, as necessary, to the extent of the difference between the amount
contributed and deductible in each such succeeding year and the maximum amount
deductible for each such succeeding year.

         [e]      LIMITS: Company contributions may not exceed the annual
addition limitations of the Code, as defined in Article VI.

         [f]      CERTAIN ESOP CONTRIBUTIONS: If Company contributions to the
ESOP Accounts for any Plan Year are applied to the repayment of the principal
on a loan incurred for the purpose of acquiring Qualifying Employer
Securities, such Company contributions may be made and will be deductible up
to 25% of the aggregate Compensation of all Participants eligible to share in
Company contributions to this Plan for such year. In addition, the Company may
make additional contributions which, if applied to the repayment of interest
on a loan incurred for the purpose of acquiring Qualifying Employer
Securities, will be deductible for the Company's taxable year with respect to
which they are made.

4.2      RETURN OF COMPANY CONTRIBUTIONS: A contribution by the Company to the
Plan will be returned to the Company, at the Company's discretion, under any
of the following circumstances:

         [a]      If a contribution is made by the Company by a mistake of
fact, within one year of its payment to the Plan; or

         [b]      If all or any part of the deduction of the contribution is
disallowed, to the extent of the disallowance, within one year after the
disallowance of the deduction.

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The Company will state by written request to the Trustee the amount of the
contribution to be returned and the reason for such return. Such returned amount
will not include any earnings attributable to the contribution and will be
reduced by net losses attributable to the contribution. The Trustee will return
such contribution to the Company immediately upon receipt of the written request
by the Company. All contributions by the Company to the Plan are declared to be
conditioned upon both the qualification of the Plan under Code Section 401 and
the deductibility of such contribution under Code Section 404.

4.3      COMPANY'S OBLIGATIONS: The adoption and continuance of the Plan will
not be deemed to constitute a contract between the Company and any Employee or
Participant, nor to be consideration for, nor an inducement nor condition of,
the employment of any person. Nothing in this Plan will be deemed to give any
Employee or Participant the right to be retained in the employ of the Company,
or to interfere with the right of the Company to discharge any Employee or
Participant at any time, nor will it be deemed to give the Company the right
to require the Employee or Participant to remain in its employ, nor will it
interfere with the right of any Employee or Participant to terminate
employment at any time.

4.4      PARTICIPANT CONTRIBUTIONS:

         [a]      PARTICIPANT ROLLOVER CONTRIBUTIONS: Notwithstanding the
limits imposed on voluntary contributions, a Participant may contribute any
amount to the Plan in any year if the contribution satisfies the requirements
under law for rollover contributions and if the Committee and the Trustee
agree to accept such contribution on behalf of the Plan and the Company.
Rollover contributions will be added to a separate Trust Account for such
Participant, always will be nonforfeitable, and will be distributed pursuant
to Article VIII of this Plan. Participant rollover contributions will be
treated as part of the Participant's Profit-Sharing Accounts.

         [b]      NONDEDUCTIBLE VOLUNTARY EMPLOYEE CONTRIBUTIONS: If permitted
by the Committee and the Trustee, the Plan will accept nondeductible voluntary
employee contributions from Participants. Nondeductible voluntary employee
contributions, if any, will be maintained in a separate Account for each
Participant making such contributions and such Account will be nonforfeitable
at all times. Nondeductible voluntary employee contributions may be limited as
determined by the Committee. The amount, if any, that a Participant
contributes each year as a nondeductible voluntary employee contribution may
vary from year to year and may be contributed in one sum or in installments,
in accordance with procedures established by the Committee. Participant
nondeductible voluntary employee contributions will be treated as part of the
Participant's Profit-Sharing Accounts.

         [c]      PARTICIPANT ELECTIVE DEFERRALS: Effective April 1, 1999,
each Participant will be deemed to have elected to reduce his or her
Compensation for contribution to this Plan as an elective deferral in an
amount equal to 2% of such Participant's Compensation; provided, however, that
the Participant may elect to suspend such elective deferral contributions, or
change the amount of such elective deferral contributions. However, in no
event may a Participant make an elective deferral in excess of 20% of such
Participant's Compensation. Such election shall be made at such time and in

                                    -11-

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accordance with such procedures as are established by the Administrator from
time to time. A Participant may change his or her deferral election
prospectively but not retroactively by giving notice to the Administrator
within the time limits and under procedures prescribed by the Administrator. A
Participant may elect to make, modify, or cease elective deferrals during the
election periods established by the Administrator, which election periods must
be provided at least annually. A Participant also may elect to defer all or
any portion of any bonus payable to the Participant provided that such
deferral election is made prior to the time the Participant receives such
bonus. Participant elective deferral contributions will be treated as part of
the Participant's Profit-Sharing Accounts.

4.5      ELECTIVE DEFERRAL RULES:

         [a]      AMOUNT OF ELECTIVE DEFERRAL: A Participant's elective
deferrals under this Plan and any other qualified plan maintained by the
Company may not exceed the dollar limitation in effect under Code Section
402(g), as adjusted for increases in the cost of living (which adjusted amount
is $10,500 for 2000), in each calendar year.

         [b]      NONDISCRIMINATORY BENEFITS: Subject to the limitations of
paragraphs [a] and [f], all Participants in this Plan are eligible to defer
identical percentages of their Compensation, regardless of the amount of such
Compensation.

         [c]      NONFORFEITABILITY OF ELECTIVE DEFERRALS: All elective
deferrals made on behalf of Participants to this Plan will be vested
immediately.

         [d]      DISTRIBUTIONS RESTRICTION: Elective deferrals, qualified
non-elective contributions, qualified matching contributions, and income
allocable to each may not be distributable to a Participant or Beneficiary
earlier than upon separation from service, death, or disability. Such amounts
may also be distributed upon:

                  [1]  Termination of the Plan without the establishment or
maintenance of another defined contribution plan;

                  [2]  The disposition by a company that is a corporation to an
unrelated corporation of substantially all of the assets (within the meaning of
Code Section 409(d)(2)) used in a trade or business of such corporation if such
corporation continues to maintain this Plan after the disposition, but only with
respect to Employees who continue employment with the corporation acquiring such
assets; or

                  [3]  The disposition by a company that is a corporation to an
unrelated entity of such corporation's interest in a subsidiary (within the
meaning of Code Section 409(d)(3)) if such corporation continues to maintain
this Plan, but only with respect to Employees who continue employment with such
subsidiary;

                  [4]  The attainment of age 59-1/2.

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         [e]      DISTRIBUTION OF EXCESS ELECTIVE DEFERRALS: An excess
elective deferral is any elective deferral during a calendar year in excess of
the dollar limitation in effect under Code Section 402(g) for such year. On or
before the April 15th following the end of each calendar year, the Company
will distribute to each Participant his or her excess deferral, if any,
adjusted for any income or loss allocable to such excess deferral. Income and
losses attributable to excess elective deferrals will equal the income or loss
for the year allocable to the Participant's elective deferrals multiplied by a
fraction, the numerator of which is the Participant's excess elective deferral
for such year and the denominator of which is the total Account balance of the
Participant attributable to elective deferrals, without regard to any income
or losses allocable to such elective deferrals for the calendar year.
Alternatively, in the discretion of the Committee, income allocable to the
Participant's excess elective deferrals may be determined under any reasonable
method used by the Plan for allocating income on Plan assets and that method
shall be used for all distributions of excess elective deferrals for the Plan
Year.

4.6      ACTUAL DEFERRAL PERCENTAGE TEST:

         [a]      LIMIT ON ACTUAL DEFERRAL PERCENTAGE: The Actual Deferral
Percentage for Participants who are Highly Compensated Employees for each Plan
Year and the Actual Deferral Percentage for Participants who are Non-Highly
Compensated Employees for the same Plan Year must satisfy one of the following
tests:

                  [1]  The Actual Deferral Percentage for the Plan Year for
Participants who are Highly Compensated Employees may not exceed the Actual
Deferral Percentage for the preceding Plan Year for Participants who are
Non-Highly Compensated Employees multiplied by 1.25 times; or

                  [2]  The Actual Deferral Percentage for the Plan Year for
Participants who are Highly Compensated Employees may not exceed the Actual
Deferral Percentage for the preceding Plan Year for Participants who are
Non-Highly Compensated Employees multiplied by 2.0, provided that the Actual
Deferral Percentage for the Plan Year for Participants who are Highly
Compensated Employees does not exceed the Actual Deferral Percentage for the
preceding Plan Year for Participants who are Non-Highly Compensated Employees by
more than two percentage points. See IRS Notice 98-1 and any subsequently issued
guidance.

         [b]      ACTUAL DEFERRAL PERCENTAGE RULES: The following rules
regarding the Actual Deferral Percentage will apply:

                       [i]   The Actual Deferral Percentage for the Plan Year
for any Highly Compensated Employee who is eligible to have Elective deferrals
(and qualified non-elective contributions or qualified matching contributions,
or both, if such contributions are treated as Elective deferrals for purposes
of the Actual Deferral Percentage test by satisfying the conditions of
Treasury

                                    -13-

<PAGE>

Regulation 1.401(k)-1(b)(5)) allocated to his or her Account under two or more
arrangements described in Code Section 401(k) that are maintained by the
Company will be determined as if such Elective deferrals (and, if applicable,
such qualified non-elective contributions or qualified matching contributions,
or both) were made under a single arrangement. If a Highly Compensated
Employee participates in two or more cash or deferred arrangements that have
different Plan Years, all cash or deferred arrangements ending with or within
the same calendar year will be treated as a single arrangement;

                       [ii]  In the event that this Plan satisfies the
requirements of Code Sections 401(k), 401(a)(4), or 410(b) only if aggregated
with one or more other plans, or if one or more other plans satisfy the
requirements of such Code Sections only if aggregated with this Plan, then
this section will be applied by determining the Actual Deferral Percentage of
Participants as if all such plans were a single plan. Plans may be aggregated
in order to satisfy Code Section 401(k) only if they have the same Plan Year;

                       [iii] For purposes of determining the Actual Deferral
Percentage test, Elective deferrals, qualified non-elective contributions, and
qualified matching contributions must be made before the last day of the
twelve-month period immediately following the Plan Year to which such
contributions relate; and

                       [iv]  The Company will maintain records sufficient to
demonstrate satisfaction of the Actual Deferral Percentage test and the amount
of qualified non-elective contributions or qualified matching contributions,
or both, used in such test.

         [c]      DISTRIBUTION OF EXCESS CONTRIBUTIONS: For Plan Years
beginning after December 31, 1996, notwithstanding any other provision of this
Plan, excess contributions, plus any allocable income and minus any allocable
loss, shall be distributed no later than the last day of each Plan Year to
Participants to whose Accounts such excess contributions were allocated for
the preceding Plan Year. Excess contributions are allocated to the Highly
Compensated Employees with the largest amounts of Company contributions taken
into account in calculating the Actual Deferral Percentage test for the year
in which the excess arose, beginning with the Highly Compensated Employee with
the largest amount of such Company contributions and continuing in descending
order until all the excess contributions have been allocated. For purposes of
the preceding sentence, the "largest amount" is determined after distribution
of any excess contributions. If such excess amounts are distributed more than
2 1/2 months after the last day of the Plan Year in which such excess amounts
arose, a ten (10) percent excise tax will be imposed on the Company with
respect to such amounts.

                  [1]  ANNUAL ADDITIONS: Excess contributions (including the
amounts recharacterized) will be treated as Annual Additions under the Plan.

                  [2]  DETERMINATION OF INCOME OR LOSS: Excess contributions
will be adjusted by the amount of any income or loss allocable to the
Participant's Elective Deferrals (and, if applicable the qualified
non-elective contribution Account or qualified matching contribution Account,
or both)

                                    -14-

<PAGE>

for the Plan Year multiplied by a fraction, the numerator of which is such
Participant's excess contributions for the year and the denominator of which
is the Participant's Account balance attributable to Elective Deferrals (and
qualified non-elective contributions or qualified matching contributions, or
both, if any of such contributions are included in the Actual Deferral
Percentage) without regard to any income or loss occurring during such Plan
Year. Alternatively, in the discretion of the Committee, income allocable to
the Participant's excess Elective Deferrals may be determined under any
reasonable method used by the Plan for allocating income on Plan assets and
that method shall be used for all distributions of excess contributions for
the Plan Year.

                  [3]  ACCOUNTING FOR EXCESS CONTRIBUTIONS: Excess
contributions allocated to a Participant will be distributed from the
Participant's Elective Deferrals and qualified matching contributions (if
applicable) in proportion to the Participant's Elective Deferrals and
qualified matching contributions (to the extent used in the Actual Deferral
Percentage test) for the Plan Year. Excess contributions will be distributed
from the Participant's qualified non-elective contribution Account only to the
extent that such excess contributions exceed the balance in the Participant's
Elective Deferrals account and qualified matching contributions.

                  [4]  FORFEITURES OF COMPANY MATCHING CONTRIBUTIONS:
Notwithstanding any other provision of this Plan, Company matching
contributions attributable to any excess contributions, plus any income and
minus any loss allocable thereto, will be forfeited as of the distribution
date of the excess contributions. Company matching contributions attributable
to excess contributions will be adjusted for any income or loss allocable to
the Company matching contribution Account for the Plan Year multiplied by a
fraction, the numerator of which is the Company matching contributions
attributable to the excess contributions and the denominator of which is the
Participant's Company matching contributions without regard to any income or
loss accruing during the year.

         [d]      RECHARACTERIZATION OF EXCESS CONTRIBUTIONS: A Participant
may elect to treat his or her excess contributions as an amount distributed to
the Participant and then contributed by the Participant to the Plan to the
extent that recharacterized excess contributions in combination with other
Participant contributions made under the Plan do not exceed the limitations on
Participant contributions provided in the Plan, including the Average
Contribution Percentage limitation. Recharacterized amounts will be
nonforfeitable and will be subject to the distribution and withdrawal
restrictions imposed on Elective deferrals. Amounts may not be recharacterized
by a Highly Compensated Employee to the extent that such amount, along with
any other nondeductible employee voluntary contributions, will exceed the
limits on nondeductible employee voluntary contributions provided the Plan.
Recharacterization must occur within two and one-half months after the close
of the Plan Year in which such excess contributions arose and
recharacterization is deemed to occur no earlier than the date the last Highly
Compensated Employee is provided notification of the amount recharacterized
and the consequences of such recharacterization under procedures prescribed by
the Committee. Recharacterized amounts will be taxable to the Participant in
the Participant's taxable year in which the Participant would have received
such amounts in cash but for the elective deferral.

                                    -15-

<PAGE>

[e]      DEFINITIONS:

                  [1]  The "ACTUAL DEFERRAL PERCENTAGE" for a specified group
of Participants for a Plan Year is the average of the ratios (calculated
separately for each Participant in such group) of the amount of Company
contributions made under the Plan on behalf of each such Participant for the
Plan Year to the Participant's Compensation for the entire Plan Year (whether
or not the Participant was a Participant for the entire Plan Year) or for the
portion of such Plan Year during which the Employee was a Participant, as
determined by the Company for such Plan Year so long as such determination is
applied uniformly to Participants under the Plan for such Plan Year. Company
contributions on behalf of any Participant include [i] any Elective Deferrals
made pursuant to the Participant's Deferral Election, including excess
Elective Deferrals, but excluding Elective Deferrals that are taken into
account in the Average Contribution Percentage test (provided the Actual
Deferral Percentage test is satisfied both with and without exclusion of these
Elective Deferrals); and [ii]in the discretion of the Company, all qualified
non-elective contributions or such qualified non-elective contributions as are
necessary to meet the Actual Deferral Percentage test and all qualified
matching contributions or such qualified matching contributions as are
necessary to meet the Actual Deferral Percentage test. For purposes of
computing Actual Deferral Percentages, an Employee who would be a Participant
but for the failure to make Elective Deferrals will be treated as a
Participant on whose behalf no Elective Deferrals are made.

                  [2]  "ELECTIVE DEFERRALS" means any Company contributions
made to the Plan at the election of the Participant in lieu of cash
compensation, including contributions made pursuant to a salary reduction
agreement or other deferral arrangement. A Participant's Elective deferrals in
any calendar year are the sum of all Company contributions made on behalf of
such Participant pursuant to an election to defer under any arrangement
described in Code Section 401(k), any simplified employee pension cash or
deferred arrangement described in Code Section 402(h)(1)(B), any eligible
deferred compensation plan under Code Section 457, any plan as described in
Code Section 501(c)(18), and any Company contributions made on behalf of a
Participant pursuant to a salary reduction agreement for the purchase of an
annuity contract under Code Section 403(b).

4.7      AVERAGE CONTRIBUTION PERCENTAGE TEST

         [a]      LIMIT ON AVERAGE CONTRIBUTION PERCENTAGE: The Average
Contribution Percentage for Participants who are Highly Compensated Employees
for each Plan Year and the Average Contribution Percentage for Participants
who are Non-Highly Compensated Employees for the same Plan Year must satisfy
one of the following tests:

                  [1]  The Average Contribution Percentage for the Plan Year
for Participants who are Highly Compensated Employees may not exceed the
Average Contribution Percentage for the preceding Plan Year for Participants
who are Non-Highly Compensated Employees multiplied by 1.25 times; or

                                    -16-

<PAGE>

                  [2]  The Average Contribution Percentage for the Plan Year
for Participants who are Highly Compensated Employees may not exceed the
Average Contribution Percentage for the preceding Plan Year for Participants
who are Non-Highly Compensated Employees multiplied by 2.0, provided that the
Average Contribution Percentage for the Plan Year for Participants who are
Highly Compensated Employees does not exceed the Average Contribution
Percentage for the preceding Plan Year for Participants who are Non-Highly
Compensated Employees by more than two percentage points. SEE IRS Notice 98-1
and any subsequently issued guidance.

                             [A]  For purposes of the Average Contribution
Percentage test, the "first plan year" of any plan is the first year in which
a plan, within the meaning of Code Section 414(l), is or includes a Code
Section 401(m) plan (i.e., the first year a plan provides for Participant
contributions described in Treasury Regulation Section 1.401(m)-1(f)(6), or
matching contributions described in Treasury Regulation Section
1.401(m)-1(f)(12), or both). However, a plan does not have a first plan year
if for such plan year the plan is aggregated for purposes of Treasury
Regulation Section 1.401(m)-1(g)(14) with any other plan that was or that
included a Code Section 401(m) plan in the prior year.

                             [B]  A Plan is a "successor plan" if 50% or more
of the eligible Employees for the first Plan Year were eligible Employees
under another Code Section 401(k) Plan (or Code Section 401(m) Plan, as
applicable) maintained by the Company in the prior year.

         [b]      AVERAGE CONTRIBUTION PERCENTAGE TEST RULES: The following
rules regarding the Average Contribution Percentage will apply:

                  [i]    Multiple Use: If one or more Highly Compensated
Employees participate in both a cash or deferred arrangement and a plan
subject to the Average Contribution Percentage test maintained by the Company
and the sum of the Actual Deferral Percentage and Average Contribution
Percentage of those Highly Compensated Employees subject to either or both
tests exceeds the Aggregate Limit, then the Average Contribution Percentage of
those Highly Compensated Employees who also participate in a cash or deferred
arrangement will be reduced (beginning with such Highly Compensated Employee
with the highest amount of such contributions for such Plan Years) so that the
Aggregate Limit is not exceeded. The amount by which each Highly Compensated
Employee's contribution amount is reduced will be treated as an excess
aggregate contribution. The Actual Deferral Percentage and Average
Contribution Percentage of the Highly Compensated Employees are determined
after any corrections required to meet the Actual Deferral Percentage and
Average Contribution Percentage tests. Multiple use of the alternative
limitation does not occur if either the Actual Deferral Percentage or the
Average Contribution Percentage of the Highly Compensated Employees does not
exceed 1.25 times the Actual Deferral Percentage or Average Contribution
Percentage of the Non-Highly Compensated Employees respectively;

                  [ii]   The Average Contribution Percentage for the Plan Year
for any Highly Compensated Employee who is eligible to have contribution
percentage amounts allocated to his or her Account under two or more
arrangements described in Code Section 401(k) that are maintained

                                    -17-

<PAGE>

by the Company will be determined as if such contribution percentage amounts
were made under a single arrangement. If a Highly Compensated Employee
participates in two or more cash or deferred arrangements that have different
Plan Years, all cash or deferred arrangements ending with or within the same
calendar year will be treated as a single arrangement;

                  [iii]  In the event that this Plan satisfies the
requirements of Code Sections 401(m), 401(a)(4), or 410(b) only if aggregated
with one or more other plans, or if one or more other plans satisfy the
requirements of such Code Sections only if aggregated with this Plan, then
this section will be applied by determining the contribution percentage of
Participants as if all such plans were a single plan. Plans may be aggregated
in order to satisfy Code Section 401(m) only if they have the same Plan Year;

                  [iv]   For purposes of determining the Average Contribution
Percentage test, Participant contributions are considered to have been made in
the Plan Year in which contributed to the Trust. Matching contributions and
qualified non-elective contributions will be considered made for a Plan Year if
made no later than the end of the twelve-month period beginning on the day after
the close of the Plan Year. A Matching Contribution (including a qualified
matching contribution) that is forfeited to correct excess aggregate
contributions, or because it is attributable to an excess contribution or excess
deferral will not be taken into account for purposes of determining the
contribution percentage test;

                  [v]    The Plan will take into account the actual
contribution ratios of all Eligible Employees for purposes of the Average
Contribution Percentage test in Code Section 401(m). For this purpose, an
Eligible Employee is any Employee who is directly or indirectly eligible to
receive an allocation of matching contributions or to make Participant
Contributions and includes: an Employee who would be a Plan Participant but
for the failure to make required contributions; an Employee whose right to
make Participant Contributions or receive Matching Contributions has been
suspended because of an election (other than certain one-time elections) not
to participate; and an Employee who cannot make a Participant Contribution or
receive a matching contribution because Code Section 415(c)(1) or Code Section
414(e) prevents the Employee from receiving additional annual additions. In
the case of an Eligible Employee who makes no employee contributions and who
receives no matching contributions, the contribution ratio that is to be
included in determining the Average Contribution Percentage is zero.

                  [vi]   The Company will maintain records sufficient to
demonstrate satisfaction of the Average Contribution Percentage test and the
amount of qualified non-elective contributions or qualified matching
contributions, or both, used in such test.

         [c]      DISTRIBUTION OF EXCESS AGGREGATE CONTRIBUTIONS:
Notwithstanding any other provision of the Plan, excess aggregate
contributions, plus any income and minus any loss allocable thereto, shall be
forfeited, if forfeitable, or if not forfeitable, distributed no later than
the last day of each Plan Year to Participants to whose Accounts such excess
aggregate contributions were allocated for the preceding Plan Year. Excess
aggregate contributions are allocated to the Highly

                                    -18-

<PAGE>

Compensated Employees with the largest contribution percentage amounts taken
into account in calculating the Average Contribution Percentage test for the
year in which the excess arose, beginning with the Highly Compensated Employee
with the largest amount of such contribution percentage amounts and continuing
in descending order until all the excess aggregate contributions have been
allocated. For purposes of the preceding sentence, the "largest amount" is
determined after distribution of any excess aggregate contributions. If such
excess aggregate contributions are distributed more than 2 1/2 months after
the last day of the Plan Year in which such excess amounts arose, a ten (10)
percent excise tax will be imposed on the Company maintaining the Plan with
respect to those amounts.

                  [1]  ANNUAL ADDITIONS: Excess Aggregate Contributions shall
be treated as annual additions under the plan.

                  [2]  DETERMINATION OF INCOME OR LOSS: Excess aggregate
contributions will be adjusted by the amount of any income or loss allocable
to the Participant's Matching Contribution Account (if any, and if all amounts
in those Accounts are not used in the Actual Deferral Percentage test) and, if
applicable, qualified non-elective contribution Account and elective deferral
Account for the Plan Year multiplied by a fraction, the numerator of which is
the Participant's excess aggregate contributions for the year and the
denominator of which is the Participant's Account balance(s) attributable to
contribution percentage amounts without regard to any income or loss occurring
during such Plan Year.

                  [3]  FORFEITURES OF EXCESS AGGREGATE CONTRIBUTIONS:
Forfeitures of excess aggregate contributions shall be applied to reduce
Company contributions.

                  [4]  ACCOUNTING FOR EXCESS AGGREGATE CONTRIBUTIONS: Excess
aggregate contributions allocated to a Participant shall be forfeited, if
forfeitable, or distributed on a pro rata basis from the Participant's
matching contributions and qualified matching contributions Account (and, if
applicable, the Participant's qualified non-elective contributions or elective
deferrals, or both).

                  [5]  FORFEITURE OF MATCHING CONTRIBUTION: Any unvested
Matching Contribution attributable to excess aggregate contributions
distributed to a Participant shall be forfeited as of the distribution date of
the excess deferrals. Any vested matching contributions attributable to excess
aggregate contributions may be distributed.

                                    -19-

<PAGE>

         [d]      DEFINITIONS:

                  [1]      The "AVERAGE CONTRIBUTION PERCENTAGE" for a Plan
Year is the average of the ratios (calculated separately for each Participant
in such group) of the sum of the Participant contributions, Matching
Contributions, and qualified matching contributions (to the extent such
contributions are not taken into account for purposes of the actual deferral
percentage test) made on behalf of the Participant for the Plan Year to the
Participant's Compensation for the entire Plan Year (whether or not the
Participant was a Participant for the entire Plan Year) or for the portion of
the Plan Year during which the Employee was a Participant in the Plan, as
determined by the Company for such Plan Year so long as such determination is
applied uniformly to all Participants under the Plan for such Plan Year.
Matching and qualified matching contributions on behalf of any Participant in
any Plan Year include [i] in the discretion of the Company, all qualified
non-elective contributions or such qualified non-elective contributions as are
necessary to meet the Average Contribution Percentage test; and [ii] in the
discretion of the Company, all Elective deferrals made pursuant to the
Participant's deferral election or such Elective deferrals as are necessary to
meet the Average Contribution Percentage test (provided that the Actual
Deferral Percentage test is satisfied both with and without the exclusion of
these Elective deferrals). Such contribution percentage amounts shall not
include matching contributions that are forfeited either to correct excess
aggregate contributions or because the contributions to which they relate are
excess deferrals, excess contributions or excess aggregate contributions.

                  [2]      "AGGREGATE LIMIT" means the greater of:

                           [A] the sum of [i] 1.25 times the greater of the
Actual Deferral Percentage of Non-Highly Compensated Employees for the preceding
Plan Year or the Average Contribution Percentage of Non-Highly Compensated
Employees for the preceding Plan Year beginning with or within the Plan Year of
the cash or deferred arrangement; and [ii] the lesser of two times or two plus
the lesser of such Actual Deferral Percentage or Average Contribution
Percentage; or

                           [B] the sum of [i] 1.25 times the lesser of the
Actual Deferral Percentage of Non-Highly Compensated Employees for the preceding
Plan Year or the Average Contribution Percentage of Non-Highly Compensated
Employees for the preceding Plan Year beginning with or within the Plan Year of
the cash or deferred arrangement; and [ii] the lesser of two times or two plus
the greater of such Actual Deferral Percentage or Average Contribution
Percentage.

                           [C] If the Company elects to use the current year
testing method under Sections 4.6(b) and 4.7(b), the Actual Deferral Percentage
for the current Plan Year shall be used in determining the Aggregate Limit.

                  [3]      "COMPENSATION" for purposes of Sections 4.6 and 4.7
only, will mean compensation as defined in Code Section 414(s) and the
regulations thereunder.

                                      -20-
<PAGE>

                  [4]      "PARTICIPANT CONTRIBUTION" means any contribution
made to the Plan by or on behalf of a Participant that is included in the
Participant's gross income in the year in which made and that is maintained
under a separate Account to which earnings and losses are allocated.

                  [5]      "MATCHING CONTRIBUTION" means a Company contribution
made to this or any other defined contribution plan on behalf of a Participant
on account of a Participant contribution made by such Participant, or on
account of a Participant's elective deferral, under a Plan maintained by the
Company.

4.8      QUALIFIED MATCHING CONTRIBUTIONS: The board of directors of the
Company may authorize qualified matching contributions to the plan. "Qualified
matching contributions" means matching contributions that are subject to the
distribution and nonforfeitability requirements of Code Section 401(k).
Elective contributions and/or qualified nonelective contributions may be
treated as matching contributions under Section 4.7 only if the conditions of
Treasury Regulations Section 1.401(m)-1(b)(5) are satisfied.

                                      -21-
<PAGE>

                                    ARTICLE V

                             ALLOCATIONS AND VESTING

5.1      ALLOCATION OF COMPANY CONTRIBUTIONS:

         [a]      PROFIT-SHARING CONTRIBUTIONS: The Company's Profit-Sharing
Contributions made pursuant to section 4.1[a] will be allocated to Participants
in the ratio in which a Participant's Compensation for the Plan Year bears to
the total Compensation of all eligible Participants for the Plan Year. A
Participant will be entitled to share in the allocation of the Profit-Sharing
Contribution for the Plan Year if the Participant completes 1,000 or more Hours
of Service and is employed by the Company on the last day of the Plan Year. For
the first Plan Year of participation in the Plan, the 1,000 Hours of Service
requirement in the preceding sentence will be prorated based on the number of
days the Participant was employed during that Plan Year. Compensation will be
recognized under this Plan only from the Participant's effective date of
participation in the Plan.

         However, Profit-Sharing Contributions for the Plan Year in which a
Participant attains Normal Retirement Age, Early Retirement Age, or Late
Retirement Age and terminates employment, or dies, will be allocated to such
Participant regardless of the Hours of Service the Participant completes during
such Plan Year and regardless of whether the Participant is an employee on the
last day of the Plan Year.

         [b]      ESOP CONTRIBUTIONS: The Company's ESOP Contributions made
pursuant to section 4.1[a] will be allocated to Participants in the ratio in
which a Participant's Compensation for the Plan Year bears to the total
Compensation of all eligible Participants for the Plan Year. A Participant will
be entitled to share in the allocation of the ESOP Contribution for the Plan
Year if the Participant completes 1,000 or more Hours of Service and is
employed by the Company on the last day of the Plan Year. For the first Plan
Year of participation in the Plan, the 1,000 Hours of Service requirement in
the preceding sentence will be prorated based on the number of days the
Participant was employed during that Plan Year. Compensation will be recognized
under this Plan only from the Participant's effective date of participation in
the Plan.

         However, ESOP Contributions for the Plan Year in which a Participant
attains Normal Retirement Age, Early Retirement Age, or Late Retirement Age and
terminates employment, or dies, will be allocated to such Participant regardless
of the Hours of Service the Participant completes during such Plan Year and
regardless of whether the Participant is an employee on the last day of the Plan
Year.

         [c]      MATCHING CONTRIBUTIONS: The Company's Matching Contribution
will be allocated to each Participant as a percentage of such Participant's
elective deferral contributions to the Plan for the Plan Year. A Participant
will be entitled to share in the allocation of the Matching Contribution for
the Plan Year if, during the Plan Year, the Participant completes 1,000 or more
Hours of Service

                                      -22-
<PAGE>

and is employed by the Company on the last day of the Plan Year. For the first
Plan Year of participation in the Plan, the 1,000 Hours of Service requirement
in the preceding sentence will be prorated based on the number of days the
Participant was employed during that Plan Year. However, Matching Contributions
for the Plan Year in which a Participant attains Normal Retirement Age, Early
Retirement Age, or Late Retirement Age and terminates employment, or dies, will
be allocated to such Participant regardless of the Hours of Service the
Participant completes during such Plan Year and regardless of whether the
Participant is employed on the last day of the Plan Year.

         [d]      ALLOCATION OF FORFEITURES: To the extent that forfeitures of
Participants' forfeitable Accounts are not subject to the restoration
provisions of sections 5.4[h] and 8.4, forfeitures of a Participant's
forfeitable account will be allocated as follows: Forfeitures attributable to
Matching Contributions will be used to reduce the Company's Matching
Contribution to the Plan for the Plan Year in which the forfeiture occurs.
Forfeitures attributable to Profit-Sharing Contributions will be allocated as
additional Profit-Sharing Contributions under section 5.1[a].

         [e]      PARTICIPANT ELECTIVE DEFERRALS: Participant elective
deferrals will be allocated to the Account of the Participant making such
deferrals.

5.2      PARTICIPANTS' ACCOUNTS: The Plan Administrator will maintain
accounting records for each Participant showing appropriate separate
sub-accounts for the ESOP portion of the Participant's Account and for the
Profit-Sharing portion of the Participant's Account. Within the ESOP Accounts
and the Profit-Sharing Accounts, further sub-accounts will be maintained,
reflecting Company Profit-Sharing Contributions, Matching Contributions,
elective deferral contributions, and other Participant contributions. Account
records will be kept, showing the contributions in each category, the
Qualifying Employer Securities held in each category, the distributions, and
the earnings, losses, and changes in fair market value of each sub-account. The
Plan Administrator will distribute to each Participant at least annually a
written statement setting forth the value of the Participant's Accounts as of
the most recent Valuation Date.

5.3      VALUATION OF PARTICIPANT ACCOUNTS:

         [a]      VALUATION DATES: The Valuation Date of the Trust Fund will be
the last day of the Plan Year. The Committee, in its sole discretion may set
additional Valuation Dates during the Plan Year. At each Valuation Date, the
Committee will determine the value of the net assets of the Trust Fund (I.E.,
the value of all assets of the Trust Fund at their then current fair market
value, less all liabilities) and the value of contributions for such year.

         [b]      ALLOCATION DATES: The Committee will compute the value of
each Participant's Account annually on the last day of each Plan Year and will
base such computations on the valuation of the assets in the Trust Fund on the
Valuation Date coincident with such date. Upon direct distribution under
Article VIII, the Committee will value such Participant's Account as was
determined on the most recent Valuation Date prior to the occurrence of such
distribution. The value of his Account will be the amount that the Committee
will use in determining the amount that will be

                                      -23-
<PAGE>

distributable to such Participant. The Committee will be under no obligation to
compute the value of any Participant's Account more than once annually, but
may, in its sole discretion, elect to do so.

         [c]      METHOD OF VALUATION: Qualifying Employer Securities in the
Trust Fund will be valued at the mean between dealer "bid" and "ask" closing
prices of the stock in the over-the-counter market, as reported by the National
Association of Securities Dealers, Inc.

         [d]      ALLOCATION OF EARNINGS, LOSSES, AND CHANGES IN FAIR MARKET
VALUE OF THE NET ASSETS OF THE TRUST FUND: Except as provided in Article VIII
for a terminated Participant, earnings and losses of the Trust Fund and changes
in the fair market value of the Trust Fund (excluding earnings, losses, and
changes in the fair market value of Qualifying Employer Securities) will be
computed and allocated to the Participants in the ratio that the total dollar
value of the Account (whether or not vested) of each Participant (excluding the
Participant's QES Account) in the Trust Fund bears to the aggregate dollar
value of the Accounts of all Participants (excluding the Participants' QES
Accounts) as of the last previous Allocation Date. Except as provided in
section 9.8[g] regarding securities purchased with an exempt loan, Qualifying
Employer Securities will be allocated directly to each Participant's Account as
of the Allocation Date in the ratio that the total dollar value of the Account
(whether or not vested and excluding the value of previously allocated
Qualifying Employer Securities) of each Participant in the Trust bears to the
aggregate dollar value of the Accounts (whether or not vested and excluding the
value of previously allocated Qualifying Employer Securities) of all
Participants as of the Allocation Date. If any portion of a Participant's
Account has been distributed during the Plan Year, such amount will be excluded
from the Participant's total Account balance for purposes of this paragraph. If
contributions made to the Plan prior to the last day of any Plan Year are
segregated from other Trust assets, each Participant will be credited with his
proportional share of any earnings on such segregated contributions in the
ratio that contributions made on his behalf bears to the total contributions on
behalf of all Participants. Notwithstanding the preceding, dividends on
Qualifying Employer Securities will be allocated as provided in section 5.3[e].

         [e]      DIVIDENDS ON QUALIFYING EMPLOYER SECURITIES: As determined by
the Committee, dividends on Qualifying Employer Securities of the Company may
be allocated to Participants' Accounts as described below, may be allocated as
described below and then may be distributed directly to Participants as soon as
practical after receipt by the Trust, or may be used to repay a loan described
in section 9.8. Dividends on unallocated and allocated Qualifying Employer
Securities will be allocated directly to Accounts in the ratio in which the
number of shares of Qualifying Employer Securities allocated to each such
Account bears to the total number of shares of Qualifying Employer Securities
allocated to all Accounts.

         [f]      SUSPENSE ACCOUNT FOR UNALLOCATED FORFEITURES: In the event
that the amount of forfeitures to be allocated to any Participant's Account
would exceed the annual addition limitations, a separate suspense account shall
be established to hold such unallocated forfeitures for any year or years
provided that:

                                      -24-
<PAGE>

                  [1]      no Company contributions may be made at any time
when their allocation would be precluded by Section 415 of the Code;

                  [2]      investment gains and losses and other income are not
allocated to the suspense account; and

                  [3]      the amounts in the suspense account are allocated
under section 5.1[a] as of each Allocation Date on which forfeitures may be
allocated until the suspense account is exhausted.

5.4      VESTING OF PARTICIPANT ACCOUNTS:

         [a]      GENERAL RULES: If any Employee reaches his Normal Retirement
Age, his Early Retirement Age, or dies while employed with the Company, his
entire Account shall become fully vested without regard to the number of Years
of Service such Employee has had with the Company.

         [b]      VESTING SCHEDULE: A Participant shall be vested in the
balance attributable to Company contributions in accordance with the following
schedule:

<TABLE>
<CAPTION>
                                                               Percentage of Account
                          Years of Service                         Which Is Vested
                          ----------------                     ---------------------
                     <S>                                       <C>

                            Fewer than 2                                 0
                     2 or more but fewer than 3                         20
                     3 or more but fewer than 4                         40
                     4 or more but fewer than 5                         60
                     5 or more but fewer than 6                         80
                             6 or more                                 100
</TABLE>

         [c]      LIMITATIONS ON VESTING: Any amount returned to the Company
under Article IV shall not be considered a forfeiture in violation of Code
Section 411(a) even if a resulting adjustment is made to a Participant's vested
or nonvested Account.

         [d]      SERVICE INCLUDED IN DETERMINATION OF VESTED INTEREST: All
Years of Service with the Company will be included for the purpose of
determining a Participant's vested interest except Years of Service prior to
the Plan Year in which the Participant attained age 18, Years of Service before
this Plan (or any predecessor plan) was maintained, and Years of Service
excluded under paragraph [e].

         [e]      EFFECT OF BREAK IN SERVICE ON VESTING: With respect to a
Participant's Account attributable to Company contributions made before any
Break in Service, the percentage of a Participant's Account that is vested will
not be increased by reason of any Years of Service completed after five
consecutive one year Breaks in Service. With respect to a Participant's Account
attributable

                                      -25-
<PAGE>

to Company contributions made after any Break in Service, Years of Service
before the Break in Service will be taken into account for purposes of
determining the percentage of the Participant's Account that is vested only if
the Participant has completed a Year of Service after his or her return to the
employment of the Company. For an Employee who has no vested interest in any
Company contribution at the time of reemployment after a Break in Service,
Years of Service before such Break in Service will be taken into account for
purposes of determining the Participant's vested Account only if the aggregate
number of consecutive one year Breaks in Service does not exceed the greater of
five or the number of Years of Service before the Break in Service. Once
eliminated, these Years of Service will not again be counted. If a Participant
is reemployed after a Break in Service, separate Accounts will be maintained
for the Participant's interest attributable to pre-break and post-break Company
contributions, if required. Both accounts will share in earnings and losses as
provided in section 5.3.

         [f]      AMENDMENT OF VESTING SCHEDULE: No amendment to the Plan may
have the effect of decreasing a Participant's vested interest in the Plan as of
the later of the date the amendment is adopted or becomes effective.
Notwithstanding the preceding sentence, a Participant's Account balance may be
reduced to the extent permitted under Code Section 412(c)(8). For purposes of
this paragraph, a Plan amendment that has the effect of decreasing a
Participant's Account balance or eliminating an optional form of benefit, with
respect to benefits attributable to service before the amendment, will be
treated as reducing an accrued benefit. If a Plan amendment, including any
change in vesting schedule that occurs when a Plan becomes or ceases to be top
heavy, directly or indirectly affects the computation of a Participant's vested
percentage, each Participant with at least three Years of Service with the
Company may elect, within sixty days after the later of [1] the date the
amendment is adopted; [2] the date the amendment is effective; or [3] the date
the Participant is provided notice of the amendment by the Committee or the
Plan Administrator, to have his or her nonforfeitable percentage computed under
the Plan without regard to the amendment.

         [g]      PLAN TERMINATION: Upon the termination or partial termination
of this Plan, the Accounts of all Participants affected will be fully vested as
of the date the termination, partial termination, or complete discontinuance of
contributions occurred.

         [h]      EFFECT OF CERTAIN DISTRIBUTIONS: This paragraph will not
apply to any Participant or rollover contributions. A Participant who
terminates participation in the Plan for any reason other than death or
retirement while any portion of the Participant's Account in the Trust Fund is
forfeitable and who receives a distribution of any portion of his or her vested
Account not later than the close of the second Plan Year following the Plan
Year in which such termination of participation occurs will have the right to
pay back such distribution to the Plan. Such repayment may be made [1] only if
the Participant has returned to the employ of the Company at the time of such
repayment, and [2] in the case of a distribution upon termination of employment,
before the earlier of the date on which the Participant experiences five
consecutive one year Breaks in Service or five years from the date of
re-employment with the Company, or, in the case of any other distribution, five
years from the date of the distribution. A Participant who desires to make
repayment of a distribution under this paragraph will make repayment directly
to the Trustee. If a Participant repays a distribution under

                                      -26-
<PAGE>

this section, the value of the Participant's Account will be restored to the
amount of the Account immediately prior to distribution, unadjusted by any
subsequent gains or losses. In the case of a Participant who terminates
employment when the Participant's vested Account balance is zero and who is
deemed to receive a distribution of his or her vested Account balance upon such
termination, if such Participant becomes reemployed prior to the date on which
the Participant experiences five consecutive one-year Breaks in Service, such
Participant's nonvested Account balance will be restored to the amount of the
nonvested Account on the date of such deemed distribution. If distribution is
made to a Participant and the Participant does not repay such distribution
under the terms of this paragraph, when the time limit for repayment expires
under this paragraph, the Participant's forfeitable Account immediately before
such distribution will not be restored and such Account will not be adjusted
for any increase in vesting for service completed during the repayment period.

5.5      SUSPENSION OF CONTRIBUTIONS: If the Board of Directors decides it is
impossible to continue to make contributions, it shall have the power by
appropriate resolution or decision to suspend contributions to the Plan.
Suspension shall be temporary cessation of contributions which shall not
constitute or require a formal termination of the Plan and shall not preclude
later contributions. After the date of suspension of contributions, the Plan
and Trust shall remain in force. The Committee shall deliver to the Trustee a
copy of the Board of Director's resolution to suspend contributions.

5.6      SAFE HARBOR ALLOCATION: In the event the requirements of Code Section
401(a)(26) or Code Section 410(b) are not met during the Plan Year, Company
contributions will be allocated to Participants in the following order until
the requirements of Code Section 401(a)(26) and 410(b) are met:

         [a]      Participants who are employed by the Company on the last day
of the Plan Year and who have completed more than 500 but less than 1,000 Hours
of Service during the Plan Year; then to

         [b]      Participants who are employed by the Company on the last day
of the Plan Year and who have completed 500 or fewer Hours of Service during
the Plan Year; then to

         [c]      Participants who have terminated employment with the Company
during the Plan Year and who have completed 1,000 or more Hours of Service
during the Plan Year; then to

         [d]      Participants who have terminated employment with the Company
during the Plan Year and who have completed more than 500 but less than Hours
of Service during the Plan Year.

In no event will Participants who have terminated employment with the Company
during the Plan Year and who have completed 500 or fewer Hours of Service during
the Plan Year receive any allocation of Company contributions. The allocation of
Company contributions to Participants in each of the above categories will be
made beginning with the Participant in the category who received the lowest
Compensation from the Company during the Plan Year until Code Sections
401(a)(26) and 410(b) are met.

                                      -27-
<PAGE>

                                   ARTICLE VI

                           LIMITATIONS ON ALLOCATIONS

6.1      DEFINITIONS: For purposes of this Article VI, the following terms
will be defined as follows:

         [a]      "ANNUAL ADDITION" means the sum of the Company
contributions, forfeitures, and Participant contributions allocated to a
Participant's Account during any Limitation Year. Amounts allocated after
March 31, 1984 to an individual medical account, as defined in Code Section
415(l)(2), which is part of a pension or annuity plan maintained by the
Company will be treated as annual additions to a defined contribution plan.
Also, amounts derived from contributions paid or accrued in taxable years
ending after December 31, 1985 which are attributable to post-retirement
medical benefits that are allocated to the separate account of a Key Employee,
as defined in Code Section 419A(d)(3), under a welfare benefit fund, as
defined in Code Section 419(e), maintained by the Company are treated as
annual additions to a defined contribution plan. Any excess amount used to
reduce Company contributions under section 6.2 will be treated as annual
additions for such Limitation Year.

         [b]      "COMPANY," for purposes of this Article, means the Company
that adopts this Plan, and all members of a controlled group of corporations
(as defined in Code Section 414(b) as modified by Code Section 415(h)), all
commonly controlled trades or businesses (as defined in Code Section 414(c) as
modified by Code Section 415(h)), and all affiliated service groups (as
defined in Code Section 414(m)), in which the adopting Company is a member,
and any other entity required to be aggregated with the Company pursuant to
Code Section 414(o) and the final regulations thereunder.

         [c]      "COMPENSATION," for purposes of limiting annual additions
and combined benefits and contributions under this Article, means
compensation, as defined in [1], [2], [3], or [4] below, as determined by the
Company in its discretion.

                  [1]     Compensation means a Participant's wages, salaries,
fees for professional services, and other amounts received (without regard to
whether an amount is paid in cash) for personal services actually rendered in
the course of employment with the Company to the extent that the amounts are
includible in gross income including, but not limited to, commissions paid
salesmen, compensation for services on the basis of a percentage of profits,
commissions on insurance premiums, tips, bonuses, fringe benefits,
reimbursements, and expense allowances. Compensation also will include [A]
amounts paid or reimbursed by the Company for moving expenses incurred by the
Employee, but only to the extent that these amounts are not deductible by the
Employee under Code Section 217; [B] amounts described in Code Sections
104(a)(3), 105(a) and 105(h), but only to the extent that these amounts are
includible in the Employee's gross income; and [C] amounts includible in the
income of the Employee as a result of the grant of a non-qualified stock
option to the Employee or as a result of the Employee making an election
described in Code Section 83(b).

                                    -28-

<PAGE>

Compensation will not include [i] Company contributions to a deferred
compensation plan that are not includible in the Employee's gross income in
the year in which contributed; [ii] Company contributions to a simplified
employee pension plan described under Code Section 408(k) to the extent such
contributions are deductible by the Employee; [iii] any distributions from a
deferred compensation plan other than amounts received from an unfunded
nonqualified plan; [iv] amounts realized from the exercise of a nonqualified
stock option or when restricted stock (or property) held by the Employee
either becomes freely transferable or is no longer subject to substantial risk
of forfeiture; [v] amounts realized from the sale, exchange, or other
disposition of stock acquired under a qualified stock option; or [vi] other
amounts that receive special tax benefits, or Company contributions to
purchase an annuity contract described in Code Section 403(b), whether or not
under a salary reduction agreement and whether or not the amounts actually are
excludible from the gross income of the Employee. For purposes of this
Article, compensation for a Limitation Year includes only the compensation
that actually is paid to the Participant during the Limitation Year and
compensation that is includible in the Participant's gross income during the
Limitation Year.

                  [2]     Compensation means wages, as defined in Code Section
3401(a) and all other payments of Compensation, to an Employee (in the course
of the Company's trade or business) which the Company is required to report on
IRS Form W-2 for the Employee.

                  [3]     Compensation means wages, as defined in Code Section
3401(a) for purposes of income tax withholding at the source but determined
without regard to any rules that limit the remuneration included in wages
based on the nature or location of the employment or the services performed
(such as the exception for agricultural labor in Code Section 3401(a)(2)).

                  [4]     "Compensation" shall include elective deferrals (as
defined in Code Section 402(g)) and any amounts which are not included in the
Participant's gross income by reason of Code Sections 125 (cafeteria plans)
and 457 (deferrals to governmental plans). All determinations of Compensation
will be made in accordance with Code Section 415(c)(3), as it may be amended
from time to time.

         [d]      "LIMITATION YEAR" means the Plan Year. If the Limitation
Year is changed to a different twelve consecutive month period, the new
Limitation Year must begin on a date within the Limitation Year in which such
change is made. If a short Limitation Year is created as a result of a change
in the Limitation Year, the limitation described in section 6.2 may not exceed
the amount determined under section 6.2[a] multiplied by a fraction, the
numerator of which is the number of months in the short Limitation Year and
the denominator of which is twelve.

6.2      LIMITATION ON ANNUAL ADDITION: To the extent permitted under Treasury
Regulation Section 1.415-6(b)(6) and other guidance issued by the IRS, if the
annual addition to the account of any Participant attributable to all defined
contribution plans (including money purchase pension plans, profit-sharing
plans, and welfare benefit funds of the Company), would exceed the lesser of
[a]the greater of $30,000 (as adjusted for cost of living increases by the
Secretary of the

                                    -29-

<PAGE>

Treasury as of each January 1 for any Limitation Year ending during such
calendar year), or [b] 25% of such Participant's compensation, the excess
amount will be disposed of as follows:

         [1]      Any nondeductible voluntary employee contributions and net
earnings attributable to such contributions, to the extent that the return
would reduce the excess amount, will be returned to the Participant.

         [2]      Any Elective deferrals and net earnings attributable to such
amounts, to the extent such amounts would reduce the excess amount, will be
returned to the Participant. These Elective deferrals will not be counted in
the Actual Deferral Percentage test of Code Section 401(k) and Plan Section
4.6.

         [3]      If an excess amount still exists after the application of
paragraphs [1] and [2] and the Participant still is a Plan Participant at the
end of the Limitation Year, the amount of any such excess will be used to
reduce the Company contributions (including any allocation of forfeitures) for
such Participant in the next Limitation Year and in each succeeding Limitation
Year, if necessary.

         [4]      If an excess amount still exists after the application of
paragraphs [1] and [2] and the Participant is not a Plan Participant at the
end of the Limitation Year, any excess amount will be allocated to a suspense
account and the suspense account will be used to reduce Company contributions
for all remaining Plan Participants in the next Limitation Year and for each
succeeding Limitation Year, as necessary. If a suspense account exists for any
Limitation Year, all amounts in such suspense account must be allocated and
reallocated to the Participants' Accounts before any Company or Participant
contributions may be made to the Plan for that Limitation Year. Excess amounts
may not be distributed to Participants or former Participants. If a suspense
account is in existence at any time during the Limitation Year pursuant to
this paragraph [4], such suspense account will not share in the allocation of
the gains and losses of the Trust Fund. In the event of a Plan termination,
the balance of such suspense account shall be returned to the Company.

6.3      LIMITATION ON COMBINED BENEFITS AND CONTRIBUTIONS OF ALL DEFINED
CONTRIBUTION PLANS: This section applies if, in addition to this Plan, the
Participant is covered under another defined contribution plan maintained by
the Company, a welfare benefit fund, as defined in Code Section 419(e),
maintained by the Company, or an individual medical account, as defined in
Code Section 415(1)(2), maintained by the Company, that provides an annual
addition during any Limitation Year. The annual additions that may be credited
to a Participant's Account under this Plan for any such Limitation Year will
not exceed the limitation described in section 6.2 reduced by the annual
additions credited to a Participant's account under the other defined
contribution plans and welfare benefit funds for the same Limitation Year. If
the annual additions with respect to the Participant under other defined
contribution plans and welfare benefit funds maintained by the Company are
less than the limitation described in section 6.2 and the Company contribution
that would otherwise be contributed or allocated to the Participant's Account
under this Plan would cause the annual additions for the Limitation Year to
exceed this limitation, the amount

                                    -30-

<PAGE>

contributed or allocated will be reduced so that the annual additions under
all such plans and funds for the Limitation Year will equal the limitation
described in section 6.2. If the annual additions with respect to the
Participant under such other defined contribution plans and welfare benefit
funds in the aggregate are equal to or greater than the limitation described
in section 6.2, the Company will specify the plan or plans to which the
contribution will be reduced. If a Participant's annual additions under this
Plan and such other plans would result in an excess amount for a Limitation
Year, the excess amount will be deemed to consist of the annual additions last
allocated, except that annual additions attributable to a welfare benefit fund
or an individual medical account will be deemed to have been allocated first
regardless of the actual Allocation Date. If an excess amount is allocated to
a Participant on an Allocation Date of this Plan that coincides with an
Allocation Date of another plan, the excess amount attributed to this Plan
will be the product of the total excess amount allocated as of such date
multiplied by a fraction, the numerator of which is the annual additions
allocated to the Participant for the Limitation Year as of such date under
this Plan and the denominator of which is the total annual additions allocated
on the Participant's behalf for the Limitation Year as of such date under this
and all the other defined contribution plans.

         Any excess amount attributed to this Plan will be disposed of in the
manner described in section 6.2.

6.4      LIMITATION ON COMBINED BENEFITS AND CONTRIBUTIONS OF ALL DEFINED
BENEFIT AND DEFINED CONTRIBUTION PLANS OF THE COMPANY: For limitation years
beginning before December 31, 1999, if the Company maintains or has ever
maintained a defined benefit plan covering any Employee who also is a
Participant in this Plan, then the sum of the defined benefit plan fraction
and the defined contribution plan fraction (both as prescribed by law and as
defined below) for such Employee for such year will not exceed 1.0 in any
Limitation Year. In any Limitation Year, if the sum of the defined benefit
plan fraction and the defined contribution plan fraction on behalf of a
Participant does exceed 1.0, the Company's contribution on behalf of such
Participant to the defined contribution plan selected by the Company will be
reduced to the extent necessary to prevent the sum of the defined contribution
plan fraction and the defined benefit plan fraction from exceeding 1.0.

         [a]      DEFINED BENEFIT PLAN FRACTION: The defined benefit plan
fraction is a fraction, the numerator of which is the projected annual benefit
of the Participant under all defined benefit plans of the Company (whether or
not terminated) and the denominator of which is the lesser of [1] the product
of 1.25 times the maximum benefit dollar limitation determined for the
Limitation Year under Code Sections 415(b) and (d); or [2] the product of 1.4
times 100% of the Participant's average Compensation for his or her high three
consecutive calendar years, including any adjustments under Code Section
415(b).

         Notwithstanding the above, if the Participant was a Participant as of
the first day of the first Limitation Year beginning after December 31, 1986, in
one or more defined benefit plans maintained by the Company that were in
existence on May 6, 1986, the denominator of this fraction will not be less than
125 percent of the sum of the annual benefit that the Participant has accrued
under such

                                    -31-

<PAGE>

plans as of the close of the last Limitation Year beginning before January 1,
1987, disregarding any changes in the terms and conditions of the plan after
May 5, 1986. The preceding sentence applies only if the defined benefit plans
individually and in the aggregate satisfied the requirements of Code Section
415 for all Limitation Years beginning before January 1, 1987.

         The projected annual benefit is the annual retirement benefit (adjusted
to an actuarially equivalent straight life annuity if such benefit is expressed
in a form other than a straight life annuity) to which the Participant would be
entitled under the terms of the plan at Normal Retirement Age assuming that the
Participant will continue employment until Normal Retirement Age under the plan
(or, if later, using the Participant's current age) and further assuming that
the Participant's Compensation for the current Limitation Year and all other
relevant factors used to determine benefits under the plan will remain constant
for all future Limitation Years.

         [b]      DEFINED CONTRIBUTION PLAN FRACTION: The defined contribution
plan fraction is a fraction, the numerator of which is the sum of the annual
additions to the Participant's Account under all defined contribution plans
(whether or not terminated) maintained by the Company for the current and all
prior Limitation Years (including the annual additions attributable to the
Participant's nondeductible employee contributions to all defined benefit
plans, whether or not terminated, maintained by the Company, and the annual
additions attributable to all welfare benefit funds, as defined in Code
Section 419(e), and individual medical accounts, as defined in Code Section
415(l)(2), maintained by the Company), and the denominator of which is the sum
of the lesser of the following amounts determined for such year and for each
prior Limitation Year of Service with the Company: [1] the product of 1.25
times the dollar limitation determined under Code Sections 415(b) and (d) in
effect under Code Section 415(c)(1)(A) for the Limitation Year; or [2] 35% of
the Participant's Compensation for the Limitation Year.

         If the Employee was a Participant on the first day of the first
Limitation Year beginning after December 31, 1986, in one or more defined
contribution plans maintained by the Company that were in existence of May 6,
1986, the numerator of this fraction will be adjusted if the sum of this
fraction and the defined benefit fraction would otherwise exceed 1.0 under the
terms of this Plan. Under the adjustment, an amount equal to the product of [A]
the excess of the sum of the fractions over 1.0 times [B] the denominator of
this fraction, will be permanently subtracted from the numerator of this
fraction. The adjustment is calculated using the fractions as they would be
computed as of the end of the last Limitation Year beginning before January 1,
1987, and disregarding any changes in the terms and conditions of the Plan made
after May 6, 1986, but using the Code Section 415 limitation applicable to the
first Limitation Year beginning on or after January 1, 1987.

         The annual addition for any Limitation Year beginning before January 1,
1987, will not be recomputed to treat all Employee contributions as annual
additions.

         [c]      TRANSITION RULES. The Plan Committee, in its discretion, may
elect to use the transition rules for calculating the defined contribution
plan fraction as provided in Code Sections 415(e)(4) and 415(e)(6).

                                    -32-

<PAGE>

         [d]      LIMITATION YEARS BEGINNING AFTER DECEMBER 31, 1999. This
Section 6.4 shall not apply to any limitation year beginning after December
31, 1999.

                                    -33-

<PAGE>

                                   ARTICLE VII

                              TOP HEAVY PROVISIONS

7.1      TOP HEAVY DETERMINATION: If the Plan is or becomes top heavy in any
Plan Year, the provisions of this Article VII will supersede any conflicting
provisions in the Plan. This Plan is top heavy if any of the following
conditions exist:

         [a]      If the top heavy ratio for this Plan exceeds 60 percent and
this Plan is not part of any required aggregation group or permissive
aggregation group of plans.

         [b]      If this Plan is a part of a required aggregation group of
plans but not part of a permissive aggregation group and the top heavy ratio
for the group of plans exceeds 60 percent.

         [c]      If this Plan is a part of a required aggregation group and
part of a permissive aggregation group of plans and the top heavy ratio for
the permissive aggregation group exceeds 60 percent.

7.2      TOP HEAVY RATIO:

         [a]      If the Company maintains one or more defined contribution
plans (including any simplified employee pension plan) and the Company has not
maintained any defined benefit plan that, during the five-year period ending
on the Determination Date, has or has had accrued benefits, the top heavy
ratio for this Plan alone (or for the required or permissive aggregation
group, as appropriate) is a fraction, the numerator of which is the sum of the
Account balances of all Key Employees as of the Determination Date (including
any part of any Account balance distributed in the five-year period ending on
the Determination Date), and the denominator of which is the sum of all
Account balances (including any part of any Account balance distributed in the
five-year period ending on the Determination Date), both computed in
accordance with Code Section 416 and the regulations thereunder. Both the
numerator and the denominator of the top heavy ratio will be increased to
reflect any contribution not actually made as of the Determination Date, but
which is required to be taken into account on that date under Code Section 416
and the regulations thereunder.

         [b]      If the Company maintains one or more defined contribution
plans (including any simplified employee pension plan) and the Company
maintains or has maintained one or more defined benefit plans that during the
five-year period ending on the Determination Date has or has had any accrued
benefits, the top heavy ratio for any required or permissive aggregation
group, as appropriate, is a fraction, the numerator of which is the sum of
Account balances under the aggregated defined contribution plan or plans for
all Key Employees, determined in accordance with [a] above, plus the present
value of accrued benefits under the aggregated defined benefit plan or plans
for all Key Employees as of the Determination Date, and the denominator of
which is the sum

                                    -34-

<PAGE>

of the Account balances under the aggregated defined contribution plan or
plans for all Participants, determined in accordance with [a] above, plus the
present value of accrued benefits under the defined benefit plan or plans for
all Participants as of the Determination Date, all determined in accordance
with Code Section 416 and the regulations thereunder. The accrued benefits
under a defined benefit plan in both the numerator and the denominator of the
top heavy ratio will be increased for any distribution of an accrued benefit
made in the five-year period ending on the Determination Date.

         [c]      For purposes of paragraphs [a] and [b] above, the value of
Account balances and the present value of accrued benefits will be determined
as of the most recent Valuation Date that falls within or ends with the twelve
month period ending on the Determination Date for the first and second Plan
Years of a defined benefit plan, except as provided in Code Section 416. The
account balances and accrued benefits of a Participant [1] who is not a Key
Employee but who was a Key Employee in a prior year, or [2] who has not been
credited with at least one Hour of Service with any Company maintaining the
Plan at any time during the five-year period ending on the Determination Date,
will be disregarded. The calculation of the top heavy ratio, and the extent to
which distributions, rollovers, and transfers are taken into account, will be
made in accordance with Code Section 416. Deductible employee contributions
will not be taken into account for purposes of computing the top heavy ratio.
When aggregating plans, the value of account balances and accrued benefits
will be calculated with reference to the Determination Dates that fall within
the same calendar year.

         The accrued benefit of a Participant other than a Key Employee will be
determined under [A] the method, if any, that uniformly applies for accrual
purposes under all defined benefit plans maintained by the Company, or [B] if
there is no such method, as if such benefit accrued not more rapidly than the
slowest accrual rate permitted under the fractional rule of Code Section
411(b)(1)(C).

7.3      DEFINITIONS:

         [a]      "PERMISSIVE AGGREGATION GROUP" means the required
aggregation group of plans plus any other plan or plans of the Company that,
when considered as a group with the required aggregation group, would continue
to satisfy the requirements of Code Sections 401(a)(4) and 410.

         [b]      "REQUIRED AGGREGATION GROUP" means [1] each qualified plan
of the Company in which at least one Key Employee participates or participated
at any time during the Plan Year or any of the four preceding Plan Years
(regardless of whether the plan has terminated), and [2] any other qualified
plan of the Company that enables a plan described in [1] to meet the
requirements of Code Sections 401(a)(4) or 410.

         [c]      "DETERMINATION DATE" for any Plan Year subsequent to the
first Plan Year means the last day of the preceding Plan Year. For the first
Plan Year of the Plan, "Determination Date" means the last day of that year.

                                    -35-

<PAGE>

         [d]      "VALUATION DATE," for purposes of computing the top heavy
ratio, means the date or dates designated in Article V.

         [e]      "PRESENT VALUE" means the present value of a Participant's
interest determined in accordance with the interest and mortality assumptions
specified in the defined benefit plan of the Company, if any.

         [f]      "COMPENSATION," for purposes of this Article, means
compensation as defined in section 6.1[c], up to the limitation under Code
Section 401(a)(17).

         [g]      "KEY EMPLOYEE" means any Employee or former Employee (or
Beneficiary of either) who, at any time during the Plan Year or any of the
four preceding Plan Years, is or was:

                  [1]     An officer of the Company if the officer's
compensation exceeds 50% of the dollar limitation in effect under Code Section
415(b)(1)(A);

                  [2]     One of the ten Employees owning, or considered to
own under Code Section 318, the largest interests in the Company if the
individual's compensation exceeds 100% of the dollar limitation in effect
under Code Section 415(c)(1)(A);

                  [3]     A five percent owner of the Company; or

                  [4]     A one percent owner of the Company having annual
compensation from the Company of more than $150,000.

For purposes of this paragraph, annual compensation means compensation as
defined in Code Section 415(c)(3), including amounts contributed by the Company
pursuant to a salary reduction agreement that are excluded from the Employee's
gross income under Code Section 125, 402(e)(3), 402(h), or 403(b).

For purposes of paragraph [1], no more than 50 Employees (or, if fewer, the
greater of three Employees or ten percent of the Employees) will be treated as
officers. For purposes of paragraph [2], if two Employees have the same interest
in the Company, the Employee having the greater annual compensation from the
Company will be treated as having the larger interest in the Company. The
determination of who is a Key Employee will be made in accordance with Code
Section 416(i)(1). Non-Key Employee means any Employee who is not a Key
Employee.

7.4      MINIMUM CONTRIBUTIONS: Notwithstanding any other provision in the
Company's Plan, for any Plan Year in which the Plan is top heavy and in which
the Company maintains no defined benefit plan which designates this Plan to
satisfy Code Section 416, the aggregate Company contributions and forfeitures
allocated on behalf of any Participant who is a non-Key Employee under this
Plan and any other defined contribution plan of the Company will be the lesser
of:

                                    -36-

<PAGE>

         [a]      Three percent of such Participant's compensation; or

         [b]      The largest percentage of Company contributions and
forfeitures, as a percentage of the Compensation up to the Code Section
401(a)(17) limitation, allocated on behalf of any Key Employee for such year.

Elective deferrals and Company matching contributions may not be used to satisfy
the minimum contribution required under this Article VII. If, in any top-heavy
year, the highest percentage of Company contributions and forfeitures allocated
to any Key Employee is less than three percent, amounts allocated as a result of
any Key Employee's elective deferrals must be included in determining the
Company contribution made on behalf of such Key Employees. Each Participant who
is a non-Key Employee who is employed by the Company on the last day of the Plan
Year will be entitled to receive an allocation of the Company's minimum
contribution for such Plan Year. The minimum allocation applies even though
under other Plan provisions the Participant would not otherwise be entitled to
receive an allocation, or would have received a lesser allocation for the year
because the Participant fails to make mandatory contributions to the Plan, the
Participant's compensation is less than a stated amount, or the Participant
fails to complete 1,000 Hours of Service during the Plan Year. If the Company
maintains this Plan and any other qualified defined contribution plan, the
contribution described above will be provided under the plan specified by the
Company.

         If the Company maintains a qualified defined benefit plan in which any
Participant in this Plan participates and if the Code Section 416 minimum
contribution requirements are to be provided under this Plan, for any Plan Year
in which the Plan is Top Heavy the aggregate Company contributions and
forfeitures allocated on behalf of any Participant who is not a Key Employee
will be at least five percent of such Participant's compensation.

         If the Company maintains or at any time maintained a qualified defined
benefit plan covering any Participant in this Plan, then for any year in which
the Plan is top heavy one of the following special rules will apply:

                  [1]     If for the Plan Year this Plan would not be top
heavy if "90 percent" were substituted for "60 percent" in section 7.1, then
sections 6.4[a] and [b] will apply to Key Employees for the Plan Year as if
amended to substitute "1.0" for "1.25" in the denominators of both the defined
benefit and defined contribution plan fractions unless the top heavy minimum
allocation under this section 7.4 is at least 7-1/2% or, if the top heavy
requirements are satisfied with a minimum benefit under a defined benefit
plan, that minimum benefit is not less than 3% of the Participant's average
compensation multiplied by the number of a Participant's completed Years of
Service up to a maximum of 10 years.

                  [2]     If for the Plan Year this Plan would be top heavy if
"90 percent" were substituted for "60 percent," in section 7.1, then for all
Participants, sections 6.4[a] and [b] will apply as if amended to substitute
"1.0" for "1.25" in the denominators of both the defined contribution and the
defined benefit plan fractions.

                                    -37-

<PAGE>

                                  ARTICLE VIII

                          DISTRIBUTION FROM TRUST FUND

8.1      DISTRIBUTION OF ACCOUNTS: Unless otherwise provided in this Article
VIII, a Participant's Account will not be distributable until the Participant
dies, attains Normal Retirement Age, Early Retirement Age, or Late Retirement
Age and terminates employment, or terminates employment for any other reason.
When the Account becomes distributable, such Participant will cease to have any
further interest or participation in the Trust Fund or any subsequent
allocations except as provided in paragraphs [a] and [b] below.

         [a]      RIGHT TO DISTRIBUTION: A Participant will retain the right to
receive distribution of the value of his or her vested Account as determined
under Article V.

         [b]      RIGHT TO ALLOCATION: To the extent provided under Article V,
a Participant will retain the right to receive allocations to his or her
Account. If distribution of a Participant's Account balance under this Article
is to be made after the end of the Plan Year in which a Participant terminates
employment, such distribution will include the full amount of the Participant's
share in the allocations for such year as provided under Article V. If
distribution of a Participant's entire vested Account balance under this
Article is made prior to the allocation of a Participant's share under Article
V for the Plan Year in which the Participant terminates employment, and if the
Participant is otherwise eligible for such allocation under the terms of
Article V then the full amount of the Participant's share in the allocations
for such year, if any, will be distributed to the Participant if living or, if
not, to his or her Beneficiary, in a lump sum within an administratively
reasonable period of time after the date on which such amount is allocated.

         [c]      NOTIFICATION OF TRUSTEE: Within a reasonable period of time
after being notified by the Company that a Participant's vested Account is
distributable, the Committee will notify the Trustee of the Participant's name
and address, the amount of the vested Account that is distributable under
Article V, the reason for its being distributable, and the manner of
distribution.

8.2      ASSIGNMENT OF BENEFITS:

                                      -38-
<PAGE>

         [a]      GENERAL RULES: Except as provided below and under Code
Section 401(a)(13)(C), all amounts payable by the Trustee will be paid only to
the person entitled to them, and all such payments will be paid directly to
such person and not to any other person or entity. Such payments will not be
subject to the claim of any creditor of a Participant, except to the extent
that such payments have been used by such Participant to secure a loan from the
Plan, if applicable, nor will such payments be taken in execution by attachment
or garnishment or by any other legal or equitable proceedings. No person will
have any right to alienate, anticipate, commute, pledge, encumber, or assign
any payments or benefits that he or she may expect to receive, contingently or
otherwise, under this Plan, except the right to designate a Beneficiary or
beneficiaries; provided that this section will not affect, restrict, or abridge
any right of setoff or lien that the Trust may have by law.

         [b]      QUALIFIED DOMESTIC RELATIONS ORDERS: Paragraph [a] above will
not apply with respect to payments in accordance with the requirements of a
qualified domestic relations order. A qualified domestic relations order
creates, or recognizes the existence of, an alternate payee's right to, or
assigns to an alternate payee the right to, receive all or a portion of the
benefits otherwise payable to a Participant under the Plan. A domestic
relations order means any judgment, decree, or order (including approval of a
property settlement agreement) that relates to the provision of child support,
alimony payments, or marital property rights to a spouse, former spouse, child,
or other dependent of a Participant, and is made pursuant to a state domestic
relations law (including a community property law). To qualify, the domestic
relations order must:

                  [1]      Clearly state the name and last known mailing
address of the Participant and the name and mailing address of each alternate
payee covered by the order;

                  [2]      Clearly state the amount or percentage of the
Participant's benefits to be paid by the Plan to each alternate payee, or the
manner in which the amount or percentage is to be determined;

                  [3]      Clearly state the number of payments or period to
which the order applies;

                  [4]      Identify each Plan to which the order applies;

                  [5]      Not require the Plan to provide any type of benefit,
form of benefits, or any option not otherwise provided under the Plan;

                  [6]      Not require the Plan to provide increased benefits
(determined on the basis of actuarial value); and

                  [7]      Not require the payment of benefits to an alternate
payee that was required to be paid to another alternate payee under another
order previously determined to be a qualified domestic relations order.

                                      -39-
<PAGE>

In the case of any distribution before a Participant has separated from
service, a qualified domestic relations order will not fail to meet the
requirements of subparagraph [b][5] of this section solely because such order
requires that payment of benefits be made to an alternate payee [A] on or after
the date the Participant attains the earliest retirement age, [B] as if the
Participant had retired on the date on which such payment is to begin under
such order, and [C] in any form in which benefits may be paid under the Plan to
the Participant (other than in the form of a joint and survivor annuity with
respect to the alternate payee and his or her subsequent spouse). Payments to
an alternate payee pursuant to a qualified domestic relations order will be
made at the time prescribed by such order without violating the terms of this
Plan or the Code.

         [c]      DEFINITIONS:

                  [1]      "ALTERNATE PAYEE" means any spouse, former spouse,
child, or other dependent of a Participant who is recognized by a qualified
domestic relations order as having a right to receive all, or a portion of, the
benefits payable under a Plan with respect to such Participant.

                  [2]      "EARLIEST RETIREMENT AGE," for purposes of this
section only, means the earlier of [A] the date the Participant is entitled to
a distribution under the Plan, or [B] the later of the date the Participant
attains age 50 or the earliest date on which the Participant could begin
receiving benefits under the Plan if the Participant separated from service.

8.3      FORFEITURE OF FORFEITABLE ACCOUNT ON TERMINATION OF EMPLOYMENT: If a
Participant's employment is terminated for any reason other than attainment of
Normal Retirement Age and termination of employment or death while any part of
the Participant's Account in the Trust Fund is forfeitable, then that portion
of the Account that is forfeitable will be forfeited by the Participant on the
earlier of the date on which the Participant receives a distribution of the
vested Account or the date on which the Participant experiences five
consecutive one-year Breaks in Service. If the value of a Participant's vested
Account balance is zero upon the Participant's termination of employment, the
Participant will be deemed to have received a distribution of the vested
Account balance immediately upon such termination of employment. If a
Participant who has received a distribution of less than his or her entire
Account upon termination of employment is reemployed prior to five consecutive
one-year Breaks in Service, the forfeited Account will be restored from income
or gains to the Plan, forfeitures, or Company contributions, at the discretion
of the Committee, if the Participant repays the distributed amount to the Plan
pursuant to section 5.4[h]. Any amount forfeited will remain in the Trust Fund
and will be allocated as provided in Article V.

                                      -40-
<PAGE>

8.4      MANNER OF DISTRIBUTION OF ACCOUNT:

         [a]      REQUIRED CONSENT TO DISTRIBUTION: If the value of a
Participant's vested Account balance exceeds $5,000 or exceeded $5,000 at the
time of any prior distribution, the Participant must consent to any
distribution of the Account balance prior to the later of Normal Retirement Age
or age 62. The consent of the Participant must be obtained in writing within
the ninety-day period ending on the first day of the first period for which any
distribution is received. The Committee will notify the Participant of the
right to defer any distribution until the later of Normal Retirement Age or age
62. Such notification must include a general description of the material
features and an explanation of the relative values of the optional forms of
benefit available under the Plan in a manner that would satisfy the notice
requirements of Code Section 417(a)(3) and must be provided no less than thirty
days nor more than ninety days prior to the first day of the first period for
which a distribution is received; provided, however, that the Participant may
waive the minimum thirty-day notice period.

         [b]      FORM AND MANNER OF DISTRIBUTION

                  [1]      ACCOUNTS NOT EXCEEDING $5,000: Notwithstanding any
other provision of this Plan, if a Participant terminates employment with the
Company and the value of the Participant's vested Account balance does not
exceed $5,000, the Participant will receive a distribution of the value of the
entire vested portion of such Account balance in a single lump sum within an
administratively reasonable period of time after the Participant terminates
employment. Such distribution will be made in the form of cash; provided,
however, that the Participant may elect a distribution in the form of
Qualifying Employer Securities with respect to the Participant's ESOP Account.
For purposes of this section, if the value of a Participant's vested Account
balance is zero, the Participant will be deemed to have received a distribution
of such vested Account balance immediately upon termination of employment.

                  [2]      ACCOUNTS EXCEEDING $5,000: Effective July 1, 1996, a
Participant may elect one of the following distribution forms, provided that
the Participant's vested Account exceeds $5,000:

                           [A]      ESOP Account: If elected, the portion of
the Participant's Account which is attributable to the ESOP portion of the Plan
will be distributed [i] in one single lump sum distribution, or [ii] in
monthly, quarterly, semiannual, or annual installments. The distribution period
may not extend beyond the life expectancy of the Participant or the joint life
expectancy of the Participant and his or her designated Beneficiary. Any lump
sum or installment distribution of the Participant's ESOP Account will be made
in cash; provided, however, that the Participant may elect a distribution of
his ESOP Account solely in the form of Qualifying Employer Securities. The lump
sum distribution will be made, or installment distributions will commence,
within a reasonable period of time after the end of the Plan Year following the
date the Participant terminates employment or attains normal retirement age, or
after the last day of any subsequent Plan Year, at the election of the
Participant.

                                      -41-
<PAGE>

                           [B]      Profit-Sharing Account: If elected, the
portion of the Participant's Account which is attributable to the
Profit-Sharing portion of the Plan will be distributed [i] in one single lump
sum distribution, or [ii]in monthly, quarterly, semiannual, or annual
installments. The distribution period may not extend beyond the life expectancy
of the Participant or the joint life expectancy of the Participant and his or
her designated Beneficiary. Any lump sum or installment distribution of the
Participant's Profit-Sharing Account will be made in cash. The lump sum
distribution will be made, or installment distributions will commence, within a
reasonable period of time after the end of the Plan Year following the date the
Participant terminates employment or attains normal retirement age, or after
the last day of any subsequent Plan Year, at the election of the Participant.

                  [3]      LIMITATION ON DISTRIBUTION OF QUALIFYING EMPLOYER
SECURITIES: Pursuant to Code Section 409(h)(2), if the Articles of Incorporation
or Bylaws of the Company restrict the ownership of Qualifying Employer
Securities to Employees of the Company or to a qualified trust maintained by the
Company, Participants thereafter may not demand any distributions from this Plan
in the form of Qualifying Employer Securities and any distribution under this
Article will be in cash.

         [c]      DISTRIBUTIONS UPON DEATH: Upon the death of the Participant,
the Participant's vested Account balance will be paid to the Participant's
surviving spouse, unless the Participant has designated a Beneficiary other
than his or her spouse pursuant to section 8.5[e].

         [d]      OPTIONAL FORMS OF BENEFITS FOR TRANSFERRED ASSETS:
Notwithstanding any provision of this Plan to the contrary, to the extent that
any optional form of benefit under this Plan permits a distribution prior to
the employee's retirement, death, disability, or severance from employment, and
prior to Plan termination, the optional form of benefit is not available with
respect to benefits attributable to assets (including the post-transfer
earnings thereon) and liabilities that are transferred, within the meaning of
section 414(1) of the Internal Revenue Code, to this Plan from a money purchase
pension plan qualified under section 401(a) of the Internal Revenue Code (other
than any portion of those assets and liabilities attributable to voluntary
employee contributions).

8.5      OTHER RULES FOR DISTRIBUTION:

         [a]      MINIMUM REQUIRED DISTRIBUTIONS: Subject only to the
distribution options offered in section 8.5, the following distribution rules
will apply:

                  [1]      GENERAL MINIMUM DISTRIBUTION RULES:

                           [A]      All distributions required under this
section 8.5[a], including distributions in the form of an annuity purchased
from an insurance company, will be determined and made in accordance with Code
Section 401(a)(9) and the regulations thereunder, including the minimum
distribution incidental death benefit requirement of Income Tax Regulation
Section 1.401(a)(9)-2.

                                      -42-
<PAGE>

                           [B]      The entire interest of a Participant must
be distributed or begin to be distributed no later than the Participant's
required beginning date.

                           [C]      As of the first distribution calendar year,
distributions, if not made in a single sum under the terms of the Plan, must be
made over [i] the life of the Participant; [ii] the life of the Participant and
a designated Beneficiary; [iii] a period certain not extending beyond the life
expectancy of the Participant; or [iv] a period certain not extending beyond
the joint and last survivor expectancy of the Participant and a designated
Beneficiary.

                  [2]      DETERMINATION OF AMOUNT DISTRIBUTED: If the
Participant's interest is to be distributed in a form other than a single sum,
the following minimum distribution rules will apply on or after the required
beginning date:

                           [A]      If a Participant's benefit is to be
distributed over [i] a period not extending beyond the life expectancy of the
Participant or the joint life and last survivor expectancy of the Participant
and the Participant's designated Beneficiary; or [ii] a period not extending
beyond the life expectancy of the designated Beneficiary, the amount required
to be distributed for each calendar year, beginning with distributions for the
first distribution calendar year, must equal at least the quotient obtained by
dividing the Participant's benefit by the applicable life expectancy.

                           [B]       The amount to be distributed each year,
beginning with distributions for the first distribution calendar year, may not
be less than the quotient obtained by dividing the Participant's benefit by the
lesser of [i] the applicable life expectancy; or [ii] if the Participant's
spouse is not the designated Beneficiary, the applicable divisor determined
from the table set forth in Income Tax Regulation Section 1.401(a)(9)-2
(Q&A-4). Distributions after the death of the Participant will be determined
using the applicable life expectancy in [A] above as the relevant divisor
without regard to Income Tax Regulation Section 1.401(a)(9)-2.

                           [C]       The minimum distribution required for the
Participant's first distribution calendar year must be made on or before the
Participant's required beginning date. The minimum distribution for other
calendar years, including the minimum distribution for the distribution
calendar year in which the Employee's required beginning date occurs, must be
made on or before December 31 of that distribution calendar year.

                  [3]      MINIMUM REQUIRED DISTRIBUTIONS BEFORE DEATH: The
entire Account of each Participant [A] will be distributed not later than the
required beginning date; or [B] will be distributed commencing not later than
the required beginning date over [i] the life of the Participant (or the lives
of the Participant and his or her designated Beneficiary); or [ii] a period not
extending beyond the life expectancy of the Participant (or the life expectancy
of the Participant and his or her designated Beneficiary).

                                      -43-
<PAGE>

                  [4]      MINIMUM REQUIRED DISTRIBUTIONS AFTER DEATH: If a
Participant dies after distribution of the Participant's Account has begun, the
remaining portion of such interest will be distributed at least as rapidly as
under the method of distribution being used as of the date of the Participant's
death. If a Participant dies before distribution of the Participant's Account
has begun, the entire interest of the Participant will be distributed by
December 31 of the calendar year containing the fifth anniversary of the death
of the Participant. The preceding sentence will not apply to the extent that an
election is made to receive distributions in accordance with [A] or [B] below:

                           [A]      If any portion of the Participant's
interest is payable to or for the benefit of a designated Beneficiary,
distributions may be made over the life of the designated Beneficiary
commencing on or before December 31 of the calendar year immediately following
the calendar year in which the Participant died; or

                           [B]      If the designated Beneficiary is the
surviving spouse of the Participant, the date on which the distributions are
required to begin will not be earlier than the later of [i] December 31 of the
calendar year following the calendar year in which the Participant died; or [ii]
December 31 of the calendar year in which the Participant would have attained
age 70-1/2. If the surviving spouse dies before the distributions to such
spouse begin, distributions will be made as if the surviving spouse were the
Participant.

         If the Participant has not made an election pursuant to this paragraph
[4] by the time of the Participant's death, the Participant's designated
Beneficiary must elect the method of distribution no later than the earlier of
December 31 of the calendar year in which distributions would be required to
begin under this section or December 31 of the calendar year which contains the
fifth anniversary of the date of death of the Participant. If the Participant
has no designated Beneficiary or if the designated Beneficiary does not elect a
method of distribution, distribution of the Participant's entire interest must
be completed by December 31 of the calendar year containing the fifth
anniversary of the Participant's death.

                  [5]      LIFE EXPECTANCY: Life expectancy and joint and last
survivor expectancy will be computed using the return multiples provided in
tables V and VI of Income Tax Regulation Section 1.72-9. Life expectancies will
not be recalculated annually. The life expectancy (or joint and last survivor
expectancy) is calculated using the attained age of the Participant (or
designated Beneficiary) as of the Participant's (or designated Beneficiary's)
birthday in the applicable calendar year reduced by one for each calendar year
that has elapsed since the date life expectancy was first calculated. The
applicable calendar year will be the first distribution calendar year. If
annuity payments commence before the required beginning date, the applicable
calendar year is the year such payments commence. If distribution is in the
form of an immediate annuity purchased after the Participant's death with the
Participant's remaining interest, the applicable calendar year is the year of
purchase.

                                      -44-
<PAGE>

                  [6]      REQUIRED BEGINNING DATE: A Participant's required
beginning date shall be the later of the April 1 of the calendar year following
the calendar year in which [i] the Participant attains age 70 1/2 or retires.

                           [A]      5-PERCENT OWNER: Notwithstanding the above,
the required beginning date of a Participant who is a 5-percent owner is April
1 of the calendar year following the calendar year in which the Participant
attains age 70 1/2. A Participant is treated as a 5-percent owner for purposes
of this section is such Participant is a 5-percent owner as defined in Code
Section 416 at any time during the Plan Year ending with or within the calendar
year in which such owner attains age 70 1/2. Once distributions have begun to a
5-percent owner under this section, they must continue to be distributed, even
if the Participant ceases to be a 5-percent owner in a subsequent year.

                  [7]      DISTRIBUTION CALENDAR YEAR: The distribution
calendar year is a calendar year for which a minimum distribution is required.
For distributions required to begin under Code Section 401(a)(9) before the
Participant's death, the first distribution calendar year is the calendar year
immediately preceding the calendar year which contains the Participant's
required beginning date. For distributions required to begin under Code Section
401(a)(9) after the Participant's death, the first distribution calendar year
is the calendar year in which distributions are required to begin under section
8.5[a][4].

                  [8]      TREATMENT OF PAYMENTS TO CHILDREN: Any amount paid
to a child of the Participant will be treated as if it had been paid to the
surviving spouse if such amount will become payable to the surviving spouse
upon such child's reaching majority.

                  [9]      PARTICIPANT'S BENEFIT: The Participant's benefit is
the Participant's Account balance as of the last Valuation Date in the calendar
year immediately preceding the distribution calendar year (hereinafter the
valuation calendar year) increased by the amount of any contributions or
forfeitures allocated to the Account on any date in the valuation calendar year
after the Valuation Date and decreased by distributions made in the valuation
calendar year after the Valuation Date. If any portion of the minimum
distribution for the first distribution calendar year is made in the second
distribution calendar year on or before the required beginning date, the amount
of the minimum distribution made in the second distribution calendar year will
be treated as if it had been made in the immediately preceding distribution
calendar year.

         [b]      SPOUSE, TRUST FOR BENEFIT OF SPOUSE, OR ESTATE AS
BENEFICIARY: If distribution prior to a Participant's death has not commenced
or has commenced as installment payments from the Trust Fund pursuant to the
distribution options provided in section 8.4 and if the Participant designates
his or her spouse, a Trust for the benefit of such spouse, or his or her estate
as Beneficiary, the provisions of this paragraph will apply (subject to the
limitations in this section):

                  [1]      SPOUSE AS BENEFICIARY: If a Participant designates
his or her spouse as Beneficiary, upon the death of the Participant the spouse
will receive the entire Account of the Participant in a form provided in
section 8.4 and elected by the spouse.

                                      -45-
<PAGE>

                  [2]      QTIP TRUST AS BENEFICIARY: If a Participant, with
spousal consent, designates as his or her Beneficiary a qualified terminable
interest property (QTIP) Trust for the benefit of his or her spouse, upon the
death of the Participant the Trustee of the QTIP Trust will elect for the QTIP
Trust to receive the entire Account of the Participant in a form provided in
section 8.4 and elected by the QTIP Trustee.

                  [3]      GENERAL POWER OF APPOINTMENT TRUST AS BENEFICIARY:
If the Participant, with spousal consent, designates as his or her Beneficiary
a Trust over which his or her spouse has a general power of appointment, upon
the death of the Participant the spouse will elect for such Trust to receive
the entire Account of the Participant in a form provided in section 8.4 and
elected by the spouse.

                  [4]      ESTATE AS BENEFICIARY: If the Participant designates
his or her estate as his or her Beneficiary, with spousal consent, with a
specific bequest of his or her income in respect of decedent to his or her
spouse, upon the death of the Participant the personal representative of the
Participant (or the successor of the personal representative) will elect to
receive the entire Account of the Participant in a form provided in section 8.4
and elected by the spouse.

                  [5]      INSTALLMENT DISTRIBUTIONS: If installment payments
of the Participant's Account are elected pursuant to options provided under
this Plan, the person making the election will specify the amount of the
payments and when they will be made, provided that payment must be made no less
frequently than annually and provided further that any such election must be
available under the distribution options provided under this Plan. The total
installment payments each year will equal the greater of all income from the
Account or the minimum permissible annual payment under this section. If a
spouse elects installment payments, such spouse will determine who will receive
the amounts, if any, payable under such installment election after such
spouse's death. For purposes of this section 8.5[b], installment payments
include any distribution form under which payments are made or are projected to
be made over a period of at least three years.

         [c]      COMMENCEMENT OF BENEFITS: Unless otherwise elected by the
Participant, distribution of benefits will begin no later than the 60th day
after the latest of the close of the Plan Year in which:

                  [1]      the Participant attains the earlier of age 65 or
Normal Retirement Age under the Plan;

                  [2]      occurs the tenth anniversary of the year in which
the Participant commenced participation in the Plan; or

                  [3]      the Participant terminates employment with the
Company.

         The failure of a Participant to consent to a distribution while a
benefit is immediately distributable will be deemed to be an election to defer
commencement of payment until the later of

                                      -46-
<PAGE>

Normal Retirement Age or age 62. An Account balance is immediately
distributable if any part of the Account balance could be distributed to the
Participant before the Participant attains the later of Normal Retirement Age
or age 62.

         [d]      PARTICIPANT OR BENEFICIARY WHOSE WHEREABOUTS ARE UNKNOWN: In
the case of any Participant or Beneficiary whose whereabouts are unknown, the
Committee will notify the Participant or Beneficiary at his or her last known
address by certified mail with return receipt requested advising him or her of
his or her right to a pending distribution. If the Participant or Beneficiary
cannot be located pursuant to reasonable methods, the Committee will direct the
Trustee to forfeit the Account and such forfeitures will be treated as provided
in Article V. If a claim for forfeited benefits is subsequently made by the
Participant or Beneficiary, the amount forfeited, unadjusted for earnings or
interest, will be restored by means of an additional Company contribution,
earnings on the Trust Fund, or forfeitures.

         [e]      DESIGNATION OF BENEFICIARY:

                  [1]      GENERAL RULES: The designated Beneficiary will be
the Participant's spouse, unless the Participant has designated a Beneficiary
other than his or her spouse and the spouse has consented to such designated
Beneficiary. Such designation will not be effective unless the spouse of the
Participant, if any, consents in writing to such designation. Such spousal
consent must be witnessed by a Plan representative or notary public. Any
spousal consent obtained under this paragraph will be effective only with
respect to such spouse and such consent will be irrevocable with respect to
such spouse. A consent that permits subsequent designations by the Participant
without the need for further spousal consent must acknowledge that the spouse
has the right to limit consent to a specific Beneficiary and that the spouse
voluntarily elects to relinquish such right. A Participant may revoke a prior
Beneficiary designation without spousal consent at any time and any number of
times prior to the commencement of benefits. The Participant may change or
revoke a designation at any time by filing a new designation or notice of
revocation with the Plan Administrator.

                  [2]      DISPOSITION OF ACCOUNT IF NO BENEFICIARY
DESIGNATION: If a Participant fails to designate a Beneficiary before his or
her death or if no designated Beneficiary survives the Participant, the Plan
Administrator will direct the Trustee to pay the Participant's benefit first to
the Participant's surviving spouse, if any, or if none, to his or her
descendants by right of representation, if any, or if none, then to his or her
personal representative. If no personal representative has been appointed, and
if the benefit payable does not exceed the minimum amount for which an estate
or inheritance tax release is required under applicable state law, or for which
a personal representative must be appointed under applicable state law, the
Plan Administrator may direct the Trustee to pay the benefit to the person or
persons entitled to it under the laws of the state where the Participant was
domiciled at the date of his or her death. The Plan Administrator may require
proof of right or identity. If the benefit exceeds the minimum amount for which
an estate or inheritance tax release or the appointment of a personal
representative is required under applicable state law, the Plan Administrator
may direct the Trustee to hold the benefit in a segregated suspense account
until a personal representative has been appointed.

                                      -47-
<PAGE>

                  [3]      DISPOSITION OF ACCOUNT IF BENEFICIARY DIES: If a
Participant's benefit becomes payable to the Participant's designated
Beneficiary or designated Beneficiaries upon the Participant's death, and any
such designated Beneficiary dies before receiving the entire benefit to which
such Beneficiary is entitled, any remaining benefit to which such deceased
designated Beneficiary is entitled will be paid to such Beneficiary's personal
representative. If no personal representative has been appointed, and if the
benefit payable does not exceed the minimum amount for which an estate or
inheritance tax release is required under applicable state law, or for which a
personal representative must be appointed under applicable state law, the Plan
Administrator may direct the Trustee to pay the benefit to the person or
persons entitled to it under the laws of the state where the Beneficiary was
domiciled at the date of his or her death. The Plan Administrator may require
proof of right or identity. If the benefit exceeds the minimum amount for which
an estate or inheritance tax release or the appointment of a personal
representative is required under applicable state law, the Plan Administrator
may direct the Trustee to hold the benefit in a segregated suspense account
until a personal representative has been appointed.

8.6      WITHDRAWALS WHILE EMPLOYED:

         [a]      COMPANY CONTRIBUTIONS: No withdrawals of any amounts
attributable to Company contributions are permitted while a Participant still
is employed by the Company.

         [b]      PARTICIPANT ROLLOVER CONTRIBUTIONS: No withdrawals of any
amounts attributable to Participant rollover contributions are permitted while
a Participant still is employed by the Company.

         [c]      PARTICIPANT VOLUNTARY AFTER-TAX CONTRIBUTIONS: You may
withdraw any Participant voluntary after-tax contributions (including any
earnings on those contributions) at any time. However, if you make any
withdrawal of Participant voluntary after-tax contributions while you are
employed, you will not be eligible to made additional voluntary contributions
for a period of twelve months after the withdrawal of the voluntary
contributions.

         [d]      PARTICIPANT ELECTIVE DEFERRAL CONTRIBUTIONS: Except as
provided below, no withdrawals of any amounts attributable to Participant
elective deferral contributions are permitted while a Participant still is
employed by the Company.

                  [1]      WITHDRAWAL OF PARTICIPANT ELECTIVE DEFERRAL
CONTRIBUTIONS UPON ATTAINING AGE 59 1/2: Upon attaining age 59 1/2, the
Participant may elect to withdraw all or any portion of his or her Account
attributable to elective deferral contributions (including any earnings
thereon).

                  [2]      WITHDRAWAL OF PARTICIPANT ELECTIVE DEFERRAL
CONTRIBUTIONS UPON FINANCIAL HARDSHIP: A Participant may request a withdrawal
of all or any portion of his or her Account attributable to elective deferral
contributions (excluding any earnings on such elective deferral contributions)
in the event of a hardship. For the purposes of this paragraph [2], hardship is
defined

                                      -48-
<PAGE>

as an immediate and heavy financial need of the Participant when such
Participant lacks other available resources.

                           [A]      The following are the only financial needs
considered immediate and heavy:

                                    [i]      Deductible medical expenses
(within the meaning of Code Section 213(d)) of the Participant, the
Participant's spouse, children, or dependents;

                                    [ii]     The purchase (excluding mortgage
payments) of a principal residence for the Participant;

                                    [iii]    Payment of tuition, and related
expenses, for the next twelve months of post-secondary education for the
Participant, the Participant's spouse, children, or dependents;

                                    [iv]     The need to prevent the eviction
of the Participant from, or a foreclosure on the mortgage of, the Participant's
principal residence; or

                                    [v]      Any other reason deemed to be an
immediate and heavy financial need by the Secretary of Treasury.

                           [B]      A distribution will be considered as
necessary to satisfy an immediate and heavy financial need of the Participant
only if:

                                    [i]      The Participant has obtained all
distributions, other than hardship distributions, and all nontaxable loans
available under all Plans maintained by the Company;

                                    [ii]     All Plans maintained by the
Company provide that the Participant's elective deferrals and Participant
contributions will be suspended for twelve months after the receipt of the
hardship distribution;

                                    [iii]    The distribution is not in excess
of the amount necessary to satisfy the immediate and heavy financial need; and

                                    [iv]     All plans maintained by the
Company provide that the Participant may not make elective deferrals for the
Participant's taxable year immediately following the taxable year of the
hardship distribution in excess of the applicable limit under Code Section
402(g) for such taxable year less the amount of such Participant's elective
deferrals for the taxable year of the hardship distribution.

8.7      ELIGIBLE ROLLOVER DISTRIBUTIONS:

                                      -49-
<PAGE>

         [a]       APPLICATION: Notwithstanding any provision of the Plan to
the contrary that would otherwise limit a Participant's distribution election
under this Article, a Participant or other distributee may elect, at the time
and in the manner prescribed by the Committee, to have any portion of an
eligible rollover distribution paid directly to an eligible retirement plan
specified by the Participant or other distributee in a direct rollover.

         [b]       DEFINITIONS:

                  [1]       ELIGIBLE ROLLOVER DISTRIBUTION: An eligible
rollover distribution is any distribution of all or any portion of the balance
to the credit of the Participant, except that an eligible rollover distribution
does not include: [i] any distribution that is one of a series of substantially
equal periodic payments (not less frequently than annually) made for the life
(or life expectancy) of the distributee or the joint lives (or joint life
expectancies) of the distributee and the distributee's designated Beneficiary,
or for a specified period of ten years or more; [ii] any distribution to the
extent such distribution is required under Code Section 401(a)(9); and [iii]
the portion of any distribution that is not includible in gross income
(determined without regard to the exclusion for net unrealized appreciation
with respect to employer securities).

                  [2]        ELIGIBLE RETIREMENT PLAN: An eligible retirement
plan is an individual retirement account described in Code Section 408(a), an
individual retirement annuity described in Code Section 408(b), an annuity plan
described in Code Section 403(a), or a qualified trust described in Code
Section 401(a), that accepts the distributee's eligible rollover distribution.
However, in the case of an eligible rollover distribution to the surviving
spouse, an eligible retirement plan is an individual retirement account or
individual retirement annuity.

                  [3]          DISTRIBUTEE: A distributee includes an Employee
or former Employee. In addition, the Employee's or former Employee's surviving
spouse and the Employee's or former Employee's spouse or former spouse who is
the alternate payee under a qualified domestic relations order, as defined in
Code Section 414(p), are distributees with regard to the interest of the spouse
or former spouse.

                  [4]          DIRECT ROLLOVER: A direct rollover is a payment
by the Plan to the eligible retirement plan specified by the distributee.

         [c] PROCEDURES: The Committee may establish procedures for the
distribution of eligible rollover distributions, including any limitations on
the amount eligible for a rollover distribution, to the extent permitted by law.

                                      -50-
<PAGE>

                                   ARTICLE IX

                               SPECIAL STOCK RULES

THE PROVISIONS OF THIS ARTICLE IX WILL APPLY ONLY TO THE ESOP PORTION OF THE
PLAN, AND ANY REFERENCE TO QUALIFYING EMPLOYER SECURITIES OR TO THE PLAN IN THIS
ARTICLE IX WILL BE DEEMED TO REFER ONLY TO THE QUALIFYING EMPLOYER SECURITIES
HELD IN THE ESOP PORTION OF THE PLAN.

9.1      RIGHT OF DIVERSIFICATION:

         [a]      GENERAL RULES: Each Qualified Participant may elect within
ninety (90) days after the close of each Plan Year during the Qualified
Election Period to direct the Trustee in writing as to the diversification of
twenty-five percent (25%) of the total number of shares of Qualifying Employer
Securities acquired by or contributed to the Plan that are allocated to such
Qualified Participant's Account (reduced by the number of shares of Qualifying
Employer Securities previously diversified pursuant to a prior election). In
the case of the election year in which the Participant can make his last
election, the preceding sentence will be applied by substituting "fifty
percent" for "twenty-five percent". In satisfaction of the diversification
right described in this section 9.1, the Committee will offer at least three
investment options for such diversified amounts within (90) days after the last
day of the period during which the election can be made. In lieu of the
diversification right described in this section 9.1, the Participant may elect
a distribution in cash or Qualifying Employer Securities of the portion of such
Account eligible for the diversification election within (90) days after the
last day of the period during which the election can be made. To the extent a
Qualified Participant elects to diversify his or her Account pursuant to this
section 9.1, the Qualified Participant may not demand a distribution of his or
her diversified Account in the form of Qualifying Employer Securities.

         Notwithstanding the above, if the fair market value (determined
pursuant to Article V at the Plan Valuation Date immediately preceding the
first day on which a Qualified Participant is eligible to make an election) of
Qualifying Employer Securities acquired by or contributed to the Plan and
allocated to a Qualified Participant's Account is $500 or less, then such
Account will not be subject to this paragraph. For purposes of determining
whether the fair market value exceeds $500, Qualifying Employer Securities held
in accounts of all employees stock ownership plans (as defined in Code Section
4975(e)(7)) and tax credit employee stock ownership plans (as defined in Code
Section 409(a)) maintained by the Company will be considered as held by the
Plan.

         [b]      For purposes of this Section 9.1, the following definitions
will apply:

                  [1]      "QUALIFIED PARTICIPANT" means any Participant or
former Participant who has completed ten (10) Years of Plan Participation and
who has attained age 55.

                  [2]      "QUALIFIED ELECTION PERIOD" means the six (6) Plan
Year period beginning with the first Plan Year in which the Participant first
became a Qualified Participant.

                                      -51-
<PAGE>

9.2      DISTRIBUTION LIMITATIONS: This section sets forth the distribution
requirements of Code Section 409(o). As written, the distribution options set
forth in Article VIII satisfy the requirements of Code Section 409(o), and the
installment provisions of this section 9.2 will not apply. Under Code Section
409(o), unless a Participant elects otherwise, the distribution of the
Participant's Account must begin not later than one year after the close of the
Plan Year [a] in which the Participant attains Normal Retirement Age and
terminates employment or dies, or [b] which is the fifth Plan Year following
the Plan Year in which the Participant terminates employment for any other
reason, provided that such Participant is not reemployed by the Company prior
to the close of such five year period. Unless limited by Article VIII, and
unless the Participant elects otherwise, the distribution of a Participant's
Account will be made in substantially equal periodic payments at least annually
over a period not longer than the greater of [1] five years, or [2] in the case
of a Participant whose balance exceeds $500,000, five years plus one additional
year (up to five additional years) for each $100,000 or fraction thereof by
which such Account exceeds $500,000. The dollar amounts in the preceding
sentence will be adjusted by the Secretary of Treasury in the same manner as
provided under Code Section 415(d).

9.3      VOTE OF QUALIFYING EMPLOYER SECURITIES HELD IN TRUST: For all
corporate matters which involve the voting of Qualifying Employer Securities,
each Participant will be credited with his pro rata portion (including
fractional shares) of the Qualifying Employer Securities allocated to his
Account. Each Participant will be entitled to vote the pro rata portion of
Qualifying Employer Securities allocated to him under this section. The Trustee
will vote unallocated Qualifying Employer Securities, as directed by the
Committee. The Committee will certify to the Company the number of shares to be
voted by each Participant if an event occurs which requires a vote of such
shares. To the extent that the Participants do not vote Qualifying Employer
Securities under this section, such stock will not be voted.

9.4      RESTRICTIONS ON TRANSFERS OF QUALIFYING EMPLOYER SECURITIES:

         [a]      GENERAL RULES: Except upon the prior written consent of the
Trustee and the issuing Company, no Participant who receives Qualifying
Employer Securities under this Plan will sell, assign, bequeath, give, pledge,
encumber, transfer, or otherwise dispose of any Qualifying Employer Securities
now or hereafter owned by him except in compliance with this Article. If
Qualifying Employer Securities are pledged or encumbered upon the prior written
consent of the Trustee and the issuing Company, the rights of any security
holder will be subordinate and subject to the rights of the Trustee and the
issuing Company.

                                      -52-
<PAGE>

         [b]      RIGHT OF FIRST REFUSAL: If any Participant or Beneficiary who
receives Qualifying Employer Securities under this Plan desires to dispose of
any of his Qualifying Employer Securities for any reason (whether by sale,
assignment, gift, or any other method of transfer), he or she will first offer
such shares for sale to the Trustee and then to the issuing Company. The offer
will be subject to all the terms and conditions set forth in this Article,
based on the greater of a price equal to the fair market value per share (as
defined in Article V) or the price per share stated in a bona fide written
offer to purchase such Qualifying Employer Securities received from another
person or entity, if any, and payable in accordance with this Article. Notice
of any such bona fide written offer will be given to the Trustee and the
issuing company stating the name and address of the prospective purchaser and
the proposed purchase price per share. The payment terms applicable upon the
exercise of the right of first refusal will be at least as favorable as the
terms provided in the bona fide written offer, if any. If a bona fide written
offer exists, any Qualifying Employer Securities not purchased by the Trustee
or the issuing Company under the options granted to it (or them) may be sold
only to a prospective purchaser designated in such offer at the purchase price
stated in such offer. If not sold to such purchaser, such Qualifying Employer
Securities will remain subject to the terms of this Article.

         [c]      ACCEPTANCE OF OFFER UNDER RIGHT OF FIRST REFUSAL: If any
offer to the Trustee pursuant to this Article is not accepted by the Trustee as
to all or any part of such Qualifying Employer Securities within fourteen days
after such offer is given or deemed given, then the Qualifying Employer
Securities as to which such offer is not accepted will be offered to the
issuing Company for an additional period of fourteen days. Acceptance of any
such offer to the Trustee or the issuing Company will be in writing given to
the selling Participant (or his personal representative). The closing of any
purchase and sale under this Article will take place as provided in this
Article.

         [d]      PERMISSIBLE TRANSFERS: Notwithstanding any other provision of
this Article, without the consent of the Trustee and the issuing Company, any
Participant who receives Qualifying Employer Securities under this Plan may
transfer such securities owned by such Participant to a revocable living trust
created by such Participant. Any Qualifying Employer Securities so transferred
will continue to be subject to this Article and such transferor will be deemed
the owner of such securities for purposes of this Article. Any reference to
personal representatives will include the trustees of such trust and their
successors.

9.5      NOTICE AND LEGEND:

         [a]      NOTICE: Any offer, acceptance of an offer, or any other
communication required or permitted to be given to any Participant, the
Trustee, the issuing Company, or any stockholder under this Article will be
deemed to have been given if and when such notice, payment, or other
communication is deposited in the United States mail, first-class, postage
prepaid, addressed to such person at his address currently in the records of
the Committee, and it will be the obligation of each person to notify the
Committee of any change of address.

         [b]      LEGEND: An appropriate legend referring to the terms and
conditions in this Article will appear on every certificate representing
outstanding shares of Qualifying Employer Securities.

                                      -53-
<PAGE>

9.6      CLOSING: The consummation of any purchase and sale contemplated by
this Article is referred to as the "closing." Such closing will occur at a
place, date, and time as the seller and purchaser may agree. If they cannot
agree, such closing will take place on the 10th day following the expiration of
the applicable option period, at the principal place of business of the
Company, at 10:00 a.m. (or if such 10th day is a Saturday, Sunday, or holiday,
then on the next business day). At such closing, the seller will deliver
certificates representing the securities duly endorsed in blank for transfer,
or with stock powers attached duly executed in blank with all required transfer
tax stamps attached or provided for, and the Company or the Trust Fund will
deliver the purchase price, or an appropriate portion thereof, to the seller.

9.7      LEVERAGED ESOP: The Trustee may borrow money for this Trust for the
exclusive benefit of the Participants and Beneficiaries upon the following
terms and conditions:

         [a]      The proceeds of the loan must be used within a reasonable
time after receipt only for any or all of the following purposes: [1] to
acquire Qualifying Employer Securities, [2] to repay such loan, or [3] to repay
a prior exempt loan. No security acquired with the proceeds of an exempt loan
may be subject to a put, call, or other option, or buy-sell or similar
arrangement while held by and when distributed from this Plan, whether or not
this Plan is then an ESOP.

         [b]      The loan must be at no more than a reasonable rate of
interest.

         [c]      Any collateral pledged to the creditor by the Trust will
consist only of the assets purchased by the borrowed funds and those that were
used as collateral on a prior exempt loan repaid with the proceeds of the
current exempt loan.

         [d]      The creditor will have no recourse against the Trust under
the loan except with respect to such collateral given for the loan,
contributions (other than contributions of Qualifying Employer Securities) that
are made to the Trust to meet its obligations under the loan, and earnings
attributable to such collateral and the investment of such contributions. The
payment made with respect to an exempt loan by the Plan during a Plan Year must
not exceed an amount equal to the sum of such contributions and earnings
received during or prior to the year less such payments in prior years. Such
contributions and earnings must be accounted for separately in the books of
account of the Plan until the loan is repaid.

         [e]      The Company must contribute to the Trust amounts sufficient
to pay each installment of principal and interest on the loan on or before the
date such installment is due, even if no tax benefit results from such
contribution.

         [f]      In the event of default upon the loan, the value of Plan
assets transferred in satisfaction of the loan must not exceed the amount of
the default and, if the lender is a disqualified person, the loan must provide
for transfer of Plan assets upon default only upon and to the extent of the
failure of the Plan to meet the payment schedule of the loan.

                                      -54-
<PAGE>

         [g]      Assets acquired with the proceeds of an exempt loan must be
added to and maintained in a suspense account and will be treated as if all
securities in the suspense account were encumbered. Upon the payment of any
portion of the principal balance due on the loan, such portion of the assets of
the suspense account will be released from encumbrances. Upon the payment of
any portion of principal or interest of a loan used to purchase Qualifying
Employer Securities, the assets in the suspense account will be released from
encumbrance. The shares to be released from encumbrance upon payment of the
loan may be determined under [i] or [ii] below, as determined in the discretion
of the Trustee at the time the exempt loan is made.

                  [i]      For each Plan Year during the duration of the loan,
the number of Qualifying Employer Securities released must equal the number of
encumbered securities held immediately before release for the current Plan Year
multiplied by a fraction. The numerator of the fraction is the amount of
principal and interest paid for the year. The denominator of the fraction is
the sum of the numerator plus the principal and interest to be paid for all
future years. The number of future years under the loan must be definitely
ascertainable and must be determined without taking into account any possible
extension or renewal periods.

                  [ii]     Alternatively, the shares to be released may be
released solely with reference to principal payments. In such case, the number
of shares to be released will be determined as in [i] above, except that
interest payments will be disregarded in determining the numerator and the
denominator of the fraction. Interest under the alternative may be disregarded
only to the extent it is determined to be interest under standard loan
amortization tables. However, the loan must provide for annual payments of
principal and interest at a cumulative rate that is not less rapid than level
annual payments over ten years. This alternative [ii] may not be used from the
time the loan period plus any extensions or renewals exceed ten years.
Regardless of the alternative method of release chosen, if the interest rate
under the loan is variable, the interest to be paid in future years must be
computed by using the interest rate applicable as of the end of the year. If
collateral includes more than one class of securities, the number of securities
of each class to be released for a Plan Year must be determined by applying the
same fraction to each class. The released shares of the common stock of the
Company will be allocated to the Accounts of only those Participants who are
Employees of the Company at the end of the year for which the Company
designates such portion to be paid off and who would otherwise be entitled to
an allocation of Company contributions for the year under Article V. Only the
amount of Company contributions and not the value of Qualifying Employer
Securities allocated will be considered for purposes of Code Section 415. Such
allocations will be made in the same manner as the allocation of Company
contributions for such year. The Company will designate to the Trustee the year
on behalf of which such contribution is made.

         [h]      The loan must be for a specific term and may not be payable
at the demand of any person except in the case of default.

         [i]      An "exempt loan" is a loan that satisfies the provisions of
this section 9.7.

9.8      NON-TERMINABLE PROVISIONS: Notwithstanding the fact that the ESOP
portion of this Plan ceases to be an ESOP, Qualifying Employer Securities
acquired with proceeds of an exempt loan will continue after the loan is paid
to be subject to Treas. Reg. Sections 54.4975-7(b)(4), (10), (11), and (12)
relating to put, call, or other options and to buy-sell or similar arrangements.

                                      -55-
<PAGE>

9.9      FORFEITURE OF QUALIFYING EMPLOYER SECURITIES: In the event any portion
of a Participant's Account is forfeitable under the terms of Article V,
Qualifying Employer Securities held in such Account may be forfeited only after
all assets other than Qualifying Employer Securities are forfeited. To the
extent that the Participant's Account holds more than one class of Qualifying
Employer Securities, if Qualifying Employer Securities are to be forfeited, the
Participant must forfeit the same proportion of each class of Qualifying
Employer Securities.

                                      -56-
<PAGE>

                                    ARTICLE X

                              FIDUCIARY OBLIGATIONS

10.1     FIDUCIARY: "Fiduciary" means a person who [a] exercises any
discretionary authority or discretionary control respecting management of the
Plan, or exercises any authority or control respecting management or
disposition of the Plan assets; [b] renders investment advice for a fee or
other compensation, direct or indirect with respect to any moneys or other
property of the Plan; or has any authority or responsibility to do so; or, [c]
has any discretionary authority or discretionary responsibility in the
administration of the Plan. Such term includes any person designated under
section 10.3. If any money or other property of the Plan is invested in
securities issued by an investment company registered under the Investment
Company Act of 1940, such investment by itself will not cause such investment
company or writer to be deemed a fiduciary or a party in interest. "Named
Fiduciary" means any fiduciary who is named in this Plan, or who, pursuant to
this Article, is identified as a fiduciary to the Plan. Such named fiduciaries
include, but are not limited to, the Trustee, the Committee, and the Plan
Administrator.

10.2     GENERAL FIDUCIARY DUTIES: A fiduciary will discharge his or her duties
under the Plan solely in the interest of the Participants and the Beneficiaries
and for the exclusive purpose of providing benefits to Participants and to
their Beneficiaries and defraying reasonable expenses of administering the
Plan. All fiduciaries will act with the care, skill, prudence, and diligence
under the circumstances then prevailing that a prudent man acting in a like
capacity and familiar with such matters would use in the conduct of an
enterprise of a like character and with like aims. Except as authorized by
regulations of the Secretary of Labor, no fiduciary may maintain the indicia of
the ownership of any assets of the Plan outside the jurisdiction of the
district courts of the United States. A fiduciary will act in accordance with
the documents and instruments governing the Plan to the extent the documents
and instruments are consistent with the requirements of law.

10.3     ALLOCATION OF FIDUCIARY RESPONSIBILITY: A named fiduciary may
designate persons other than named fiduciaries to carry out fiduciary
responsibilities under the Plan; provided, however, that fiduciary
responsibilities to manage or control Plan assets may not be delegated except
by appointment of an investment manager.

10.4     LIABILITY OF FIDUCIARIES:

         [a]      EXTENT OF LIABILITY: A fiduciary who breaches any of the
responsibilities, obligations, or duties imposed upon such fiduciary by this
Plan or by the requirements of law will be personally liable only [1] to make
good to the Plan any losses resulting from his or her breach; [2] to restore to
the Plan any profits the fiduciary has made through the use of Plan assets for
his or her personal account; and [3] to pay those penalties prescribed by law
arising from the fiduciary's breach. A fiduciary will be subject to such other
equitable or remedial relief as a court of law may deem appropriate, including
removal of the fiduciary. A fiduciary also may be removed for a violation of

                                      -57-
<PAGE>

section 10.9 (prohibition against certain persons holding certain positions).
No fiduciary will be liable with respect to the breach of a fiduciary duty if
such breach was committed before he or she became a fiduciary or after he or
she ceased to be a fiduciary.

         [b]      LIABILITY OF FIDUCIARY FOR BREACH BY CO-FIDUCIARY: A
fiduciary will be liable for a breach of fiduciary responsibility by another
fiduciary of this Plan only if the fiduciary [1] participates knowingly in, or
knowingly undertakes to conceal, an act or omission of the other fiduciary, and
knows such act or omission by the other fiduciary is a breach of the other
fiduciary's duties; [2] enables another fiduciary to commit a breach by his or
her failure to comply with section 10.2 in the administration of specific
responsibilities that give rise to his or her status as a fiduciary; or [3] has
knowledge of a breach by another fiduciary and does not make reasonable efforts
under the circumstances to remedy the breach.

         [c]      LIABILITY FOR IMPROPER DELEGATION OF FIDUCIARY
RESPONSIBILITY: A named fiduciary who allocates any of his or her fiduciary
responsibilities to any person or designates any person to carry out any of his
or her fiduciary responsibilities will be liable for the act or omission of
such person in carrying out the responsibility only to the extent that the
named fiduciary fails to satisfy his or her general fiduciary duties under
section 10.2 with respect to the allocation or designation, with respect to the
establishment or implementation of the procedure by which he or she allocates
the responsibilities, or in continuing the allocation or designation. Nothing
in this paragraph will prevent a named fiduciary from being liable if he or she
otherwise would be liable for an act or omission under paragraph [b].

         [d]      FIDUCIARY TO WHOM RESPONSIBILITIES ARE ALLOCATED: Any person
who has been designated to carry out fiduciary responsibilities under section
10.3 will be liable for such responsibilities under this section to the same
extent as any named fiduciary.

         [e]      LIABILITY INSURANCE AND INDEMNIFICATION: A fiduciary may
purchase insurance to cover liability from and for the fiduciary's own account.
The Plan or the Company may purchase insurance to cover potential liability of
those persons who serve in a fiduciary capacity with regard to the Plan or may
indemnify a fiduciary against liability and expenses reasonably incurred by the
fiduciary in connection with any action to which such fiduciary may be made a
party by reason of his or her being or having been a fiduciary.

10.5     PROHIBITED TRANSACTIONS: No fiduciary will cause the Plan to engage in
a transaction if the fiduciary knows that the transaction constitutes a
prohibited transaction under law. No disqualified person under law (other than
a fiduciary acting only as such) will engage in a prohibited transaction as
prescribed by law.

10.6     RECEIPT OF BENEFITS BY FIDUCIARIES: Nothing will prohibit any
fiduciary from receiving any benefit to which he or she may be entitled as a
Participant or Beneficiary in the Plan, if the benefit is computed and paid on
a basis that is consistent with the terms of the Plan as applied to all other
Participants and Beneficiaries.

                                      -58-
<PAGE>

10.7     COMPENSATION AND EXPENSES OF FIDUCIARIES AND PLAN ADMINISTRATION: A
fiduciary will be entitled to receive any reasonable compensation for services
rendered or for the reimbursement of expenses properly and actually incurred in
the performance of his or her duties under the Plan. However, a fiduciary who
already receives full-time pay from the Company will receive no compensation
from the Plan, except for reimbursement of expenses properly and actually
incurred. The compensation of all agents, counsel, or other persons retained or
employed by a named fiduciary will be determined by the named fiduciary
employing the person, provided that a person who is a full-time Employee of the
Company will receive no compensation from the Plan. The compensation and
expenses of fiduciaries and the expenses of administering the Plan and
investing the Plan assets will be paid by the Plan, by the Company, by the
Participants, or by any combination of the above, as determined by the Company
in its discretion and in accordance with procedures promulgated by the Company.

10.8     SERVICE BY FIDUCIARIES AND DISQUALIFIED PERSONS: Nothing in this Plan
will prohibit anyone from serving as a fiduciary in addition to being an
officer, employee, agent, or other representative of a disqualified person.

10.9     PROHIBITION AGAINST CERTAIN PERSONS HOLDING CERTAIN POSITIONS: No
person who has been convicted of a felony will be permitted to serve as an
administrator, fiduciary, officer, Trustee, custodian, counsel, agent, or as a
consultant to this Plan, unless permitted under law. The Plan Administrator
will ascertain to the extent practical that no violation of this section
occurs. No person knowingly will permit any other person to serve in any
capacity that would violate this section.

                                      -59-
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                                   ARTICLE XI

                        PLAN ADMINISTRATOR AND COMMITTEE

11.1     APPOINTMENT, RESIGNATION, AND REMOVAL OF PLAN ADMINISTRATOR AND
COMMITTEE: The Company will appoint a Plan Administrator who will hold office
until resignation, death, or removal by the Company. The Company will designate
the maximum number of members the Committee will have and will appoint the
members of the Committee. Each member will hold office until resignation,
death, or removal by the Company. If the Company fails to appoint the Committee
or Plan Administrator, or both, the Company will be the Committee, the Plan
Administrator, or both. Any person may serve in more than one fiduciary
capacity, including service as Plan Administrator and Committee member. Any
Plan Administrator or Committee member may resign at any time by giving notice
to the Company effective as stated in such notice, otherwise upon receipt of
such notice. At any time, any Plan Administrator or Committee member may be
removed by the Company without cause. As soon as practical following the death,
resignation, or removal of any Plan Administrator or Committee member, the
Company, in its discretion, may appoint a successor by resolution. Notice of
the appointment of a successor Plan Administrator or Committee member will be
given by the Company to the Trustee and to the Committee or Plan Administrator,
respectively. Until receipt of such notice, the Trustee and the Committee or
Plan Administrator, as the case may be, will not be charged with knowledge or
notice of such change.

11.2     ORGANIZATION AND OPERATION OF OFFICES OF PLAN ADMINISTRATOR AND
COMMITTEE: The Plan Administrator and the Committee may adopt such procedures
as each deems desirable for the conduct of its respective affairs and may
appoint or employ a secretary or other agents, any of whom may be, but need not
be, an officer or an Employee of the Company. Any agent may be removed at any
time by the person appointing or employing him.

11.3     DUTIES AND POWERS OF PLAN ADMINISTRATOR--REPORTING AND DISCLOSURE:

         [a]      GENERAL REQUIREMENTS: The Plan Administrator will be
responsible for all applicable reporting and disclosure requirements of law.
The Plan Administrator will prepare, file with the Secretary of Labor, the
Secretary of the Treasury, or any other appropriate authority, and furnish to
Plan Participants and Beneficiaries, when applicable, the following:

                  [1]  Summary Plan description;

                  [2]  Description of modifications and changes;

                  [3]  Annual report;

                  [4]  Terminal and supplementary reports;

                                      -60-
<PAGE>

                  [5]  Registration statement; and

                  [6]  Any other return, report, or documents required by law.

         [b]      STATEMENT OF BENEFITS ACCRUED AND VESTED: The Plan
Administrator is to furnish any Plan Participant or Beneficiary who so requests
in writing, a statement indicating, on the basis of the latest available
information, the total benefits accrued and the vested benefits, if any, that
have accrued, or the earliest date on which benefits will become vested. The
Plan Administrator will furnish a written statement to any Participant who
terminates employment during the Plan Year and is entitled to a deferred vested
benefit under the Plan as of the end of the Plan Year, if no retirement
benefits have been paid with respect to such Participant during the Plan Year.
The statement will be an individual statement and will contain the information
required in the annual registration statement that the Plan Administrator is
required to file with the Secretary of the Treasury. The Plan Administrator
will furnish the individual statement to the Participant before the expiration
of the time prescribed for filing the annual registration statement with the
Secretary of the Treasury.

         [c]      INSPECTION OF DOCUMENTS: The Plan Administrator is to make
available for inspection copies of the Plan, the latest annual report, and the
agreements under which the Plan was established or is operated. Such documents
will be available for examination by any Participant or Beneficiary in the
principal office of the Plan Administrator and in such other places as may be
necessary to make available all pertinent information to all Participants. Upon
written request by any Participant or Beneficiary and if required by law, the
Plan Administrator is to furnish a copy of the latest updated summary plan
description, the latest annual report, any terminal report, and any agreements
under which the Plan is established or operated.

         [d]      NOTICE OF ROLLOVER TREATMENT: When an eligible rollover
distribution is made, the Plan Administrator will provide a written explanation
to the recipient in accordance with the requirements of Code Section 402(f) and
in accordance with the current IRS procedures and notices concerning the
withholding of federal income tax, eligible rollover distributions and tax
consequences.

11.4     DUTIES AND POWERS OF COMMITTEE--IN GENERAL: The Committee will decide,
in its sole discretion, all questions arising in the administration,
interpretation, and application of the Plan and Trust, including all questions
relating to eligibility, vesting, and distribution, except as may be reserved
under this Plan to the Company. The Committee from time to time will direct the
Trustee concerning the payments to be made out of the Trust Fund pursuant to
this Plan. All notices, directions, information, and other communications to
and from the Committee will be in writing.

11.5 DUTIES AND POWERS OF COMMITTEE--KEEPING OF RECORDS: The Committee will
keep a record of all of its proceedings and will keep all such books of
account, records, and other data as may be necessary or advisable in its
judgment for the administration of this Plan and Trust, including records to
reflect the affairs of this Plan, to determine the amount of vested and/or
forfeitable interests of the respective Participants, and to determine the
amount of all benefits payable under this Plan. The Committee will maintain
separate accounts for each Participant as

                                      -61-
<PAGE>

provided under Article V. The Committee, the Plan Administrator, and the
Company may rely on and will not be liable because of any information that an
Employee provides, either directly or indirectly. Subject to the requirements
of law, any person dealing with the Committee may rely on, and will incur no
liability in relying on, a certificate or memorandum in writing signed by the
Committee as evidence of any action taken or resolution adopted by the
Committee.

11.6 DUTIES AND POWERS OF COMMITTEE--CLAIMS PROCEDURE:

         [a]      FILING AND INITIAL DETERMINATION OF CLAIM: Any Participant,
Beneficiary, or any duly authorized representative may file a claim for a Plan
benefit to which the claimant believes that he or she is entitled. Such a claim
must be in writing and delivered to the Committee in person or by certified
mail, postage prepaid. Within 90 days after receipt of such claim, the
Committee will send to the claimant by certified mail, postage prepaid, notice
of the granting or denying, in whole or in part, of such claim, unless special
circumstances require an extension of time for processing the claim. In no
event may the extension exceed 90 days from the end of the initial period. If
such extension is necessary, the claimant will be given a written notice to
this effect prior to the expiration of the initial 90-day period. The Committee
will have full discretion to deny or grant a claim in whole or in part. If
notice of the denial of a claim is not furnished in accordance with this
paragraph [a], the claim will be deemed denied and the claimant will be
permitted to exercise his or her right of review pursuant to paragraphs [c] and
[d] of this section.

         [b]      DUTY OF COMMITTEE UPON DENIAL OF CLAIM: The Committee will
provide to every claimant who is denied a claim for benefits written notice
setting forth, in a manner calculated to be understood by the claimant, the
following:

                  [1]    The specific reason or reasons for the denial;

                  [2]    Specific reference to pertinent Plan provisions on
which the denial is based;

                  [3]    A description of any additional material or
information necessary for the claimant to perfect the claim and an explanation
of why such material is necessary; and

                  [4]    An explanation of the Plan's claim review procedure.

         [c] REQUEST FOR REVIEW OF CLAIM DENIAL: Within 60 days after receipt
by the claimant of written notification of the denial in whole or in part of
the claim, the claimant or the claimant's duly authorized representative, upon
written application to the Committee in person or by certified mail, postage
prepaid, may request a review of such denial, may review pertinent documents,
and may submit issues and comments in writing. Upon its receipt of the request
for review, the Committee will notify the Company of the request.

         [d]      CLAIMS REVIEWER: Upon its receipt of notice of a request for
review, the Company will appoint a person other than a Committee member to be
the claims reviewer. The Committee will

                                      -62-
<PAGE>

deliver to the claims reviewer all documents pertinent to the review. The
claims reviewer will make a prompt decision on the review. The decision on
review will be written in a manner calculated to be understood by the claimant,
and will include specific reasons for the decision and specific references to
the pertinent Plan provisions on which the decision is based. The decision on
review will be made not later than 60 days after the Committee's receipt of a
request for a review, unless special circumstances require an extension of time
for processing, in which case a decision will be rendered not later than 120
days after receipt of a request for review. If such extension is necessary, the
claimant will be given written notice of the extension prior to the expiration
of the initial 60-day period. If notice of the decision on the review is not
furnished in accordance with this paragraph [d], the claim will be deemed
denied and the claimant will be permitted to exercise his or her right to legal
remedy pursuant to paragraph [e] of this section.

         [e]      LEGAL REMEDY: After exhaustion of the claims procedure as
provided under this Plan, nothing will prevent any person from pursuing any
other legal remedy.

11.7     DUTIES AND POWERS OF COMMITTEE--FUNDING POLICY: The policy of the
Company is that this Plan will be funded with Company contributions. The
Committee will determine the Plan's short-term and long-term financial needs
and regularly communicate these requirements to the appropriate persons. The
Committee will determine whether the Plan has a short-term need for liquidity
(E.G., to pay benefits), or whether liquidity is a long-term goal and
investment growth is a more current need. The Committee will communicate such
information to the Trustee so that investment policy can be coordinated
appropriately with Plan needs.

11.8     DUTIES AND POWERS OF COMMITTEE--BONDING OF FIDUCIARIES AND PLAN
OFFICIALS: The Committee will procure bonds for every fiduciary of the Plan and
for every person who handles funds or other property of the Plan, in an amount
not less than 10% of the amount of funds handled and in no event less than
$1,000, except the Committee will not be required to procure such bonds if the
person is excepted from the bonding requirements by law or if the Secretary of
Labor exempts the Plan from the bonding requirements.

11.9     DUTIES AND POWERS OF COMMITTEE--QUALIFIED DOMESTIC RELATIONS ORDERS:
The Committee will establish reasonable procedures for determining the
qualification status of a domestic relations order. Such procedures:

         [a]      Will be in writing;

         [b]      Will provide to each person specified in a domestic relations
order as entitled to payment of Plan benefits notification of such procedures
promptly upon receipt of the order by the Plan; and

         [c]       Will permit an alternate payee to designate a representative
for receipt of copies of notices that are sent to the alternate payee.

Within a reasonable period of time after receipt of such order, the Committee
will determine if such order is a qualified domestic relations order and will
notify the Participant and each alternate payee

                                      -63-
<PAGE>

of such determination. During any period in which the issue of whether a
domestic relations order is a qualified domestic relations order is being
determined, the Committee will segregate in a separate Account the amounts that
would have been payable to the alternate payee during such period if the order
had been determined to be a qualified domestic relations order. If, within 18
months, the order is determined not to be a qualified domestic relations order,
or the issue as to whether such order is a qualified domestic relations order
is not resolved, then the Committee will pay under the terms of the Plan the
segregated amounts to the person or persons who would have been entitled to
such amounts if there had been no order. If a Plan fiduciary acts in accordance
with the fiduciary responsibility provisions of ERISA, then the Plan's
obligation to the Participant and each alternate payee will be discharged to
the extent of any payment made.

                                      -64-
<PAGE>

                                   ARTICLE XII

                        POWERS AND DUTIES OF THE TRUSTEE

12.1     INVESTMENT OF PLAN ASSETS: The portion of the Plan which constitutes
an employee stock ownership plan is designed to invest primarily in Qualifying
Employer Securities. The duty of the Trustee is to hold in Trust the funds it
receives. The Trustee will have exclusive authority and discretion to manage
and control the assets of the Plan and to manage, invest, and reinvest the
Trust Fund and the income from it under this Article, without distinction
between principal and income. The Trustee will make payments and distributions
from the Trust Fund in accordance with the terms of this Plan and instructions
of the Committee or Plan Administrator. The Trustee will be responsible only
for sums that it actually receives as Trustee plus net gains on such amount.
The Trustee will have no duty to collect any sums from the Plan Administrator,
the Company, or from a Participant. In making investments or reinvestments, the
Trustee will diversify the investments of the Plan to minimize the risk of
large losses, unless under the circumstances it is clearly prudent not to do
so. The Trustee will act with the care, skill, prudence, and diligence under
the circumstances then prevailing that a prudent man acting in a like capacity
and familiar with such matters would use in the conduct of an enterprise of a
like character and with like aims.

12.2     RECORDS AND ACCOUNTS OF THE TRUSTEE: The Trustee will keep all such
records and accounts that may be necessary in the administration and conduct of
this Trust. The Trustee's records and accounts will be open to inspection by
the Company, the Committee, and the Plan Administrator, at all reasonable times
during business hours. All income, profits, recoveries, contributions,
forfeitures, and any and all moneys, securities, and properties of any kind at
any time received or held by the Trustee will be held for investment purposes
as a commingled Trust Fund. Separate accounts or records may be maintained for
operational and accounting purposes, but no such account or record will be
considered as segregating any funds or property from any other funds or
property contained in the commingled fund, except as otherwise provided. After
the close of each year of the Trust, the Trustee will render to the Company and
the Committee a statement of assets and liabilities of the Trust Fund for such
year.

12.3     ADMINISTRATIVE POWERS OF THE TRUSTEE: Subject to the requirements
imposed by law, the Trustee will have all powers necessary or advisable to
carry out the provisions of this Plan and Trust and all inherent, implied, and
statutory powers now or subsequently provided by law, including specifically
the power to do any of the following:

         [a]      To invest or reinvest any and all money or property of any
description at any time held by the Trustee and constituting Plan assets
without previous application to, or subsequent ratification of, any court,
tribunal or commission, or any federal or state governmental agency. Such
investment may be in real property and all interests in real property
(including Qualifying Employer Real Property), in bonds, notes, debentures,
mortgages, commercial paper, preferred stocks, common stocks, or other
securities (including Qualifying Employer Securities), rights, obligations, or
property,

                                      -65-
<PAGE>

real or personal, including shares or certificates of participation issued by
regulated investment companies or regulated investment trusts, shares or units
of participation in qualified common Trust Funds, in qualified pooled funds, or
in pooled investment funds of an insurance Company qualified to do business in
the state, in life insurance, group or individual term insurance, annuity, or
endowment contracts and in certificates of deposit or savings accounts in a
bank or other savings institution supervised by the United States or a state,
and if the Trustee is a bank or similar financial institution supervised by the
United States or a state, in its own deposits, savings accounts, and
certificates of deposit;

         [b]      To invest up to 100% of the assets of the Trust Fund in
Qualifying Employer Securities, without regard to the diversification
requirement or to the prudence requirement to the extent it requires
diversification;

         [c]      To cause any securities or other property to be registered
and held in its name as Trustee, or in the name of one or more of its nominees,
without disclosing the fiduciary capacity, or to keep the same in unregistered
form payable to bearer;

         [d]      To sell, grant options to sell, exchange, pledge, encumber,
mortgage, deed in trust, or use any other form of hypothecation, or otherwise
dispose of the whole or any part of the Trust Fund on such terms and for such
property or cash, or part cash and credit, as it may deem best; to retain,
hold, maintain, or continue any securities or investments that it may hold as
part of the Trust Fund as long as it may deem advisable; and generally, in all
respects, to do all things and exercise each and every right, power, and
privilege in connection with and in relation to the Trust Fund as could be
done, exercised, or executed by an individual holding and owning such property
in absolute and unconditional ownership;

         [e]      To abandon, compromise, contest, and arbitrate claims and
demands; to institute, compromise, and defend actions at law (but without
obligation to do so); in connection with such powers, to employ counsel as the
Trustee deems advisable; and to exercise such powers all at the risk and
expense of the Trust Fund;

         [f]      To borrow money for this Trust on the terms and conditions
the Trustee deems advisable, and to secure repayment by the mortgage or pledge
of any assets of the Trust Fund;

         [g]      Except as provided in section 9.2, to vote in person or by
proxy any shares of stock or rights held in the Trust Fund; to participate in
and to exchange securities or other property in reorganization, liquidation, or
dissolution of any corporation, the securities of which are held in the Trust
Fund;

         [h]      To pay any amount due on any loan or advance made to the
Trust Fund, to charge against and pay from the Trust Fund all taxes of any
nature levied, assessed, or imposed upon the Trust Fund, and to pay all
reasonable expenses and attorney fees necessarily incurred by the Trustee with
respect to any of the foregoing matters; and

                                      -66-
<PAGE>

         [i]      For investment purposes, the Trustee may commingle the assets
of this Trust with those of any other trust established by the Company and
qualified under Code Section 501(a), provided that adequate records segregating
the assets of this Trust from those of another trust are maintained.

12.4     ADVICE OF COUNSEL: The Trustee may consult with legal counsel, who may
be counsel for the Company or Trustee's own counsel, with respect to the
meaning or construction of the Plan and Trust or Trustee's obligation or
duties. The Trustee will be protected from any responsibility with respect to
any action taken or omitted by it in good faith pursuant to the advice of
counsel, to the extent permitted by law.

12.5     APPOINTMENT, RESIGNATION, REMOVAL, AND SUBSTITUTION OF TRUSTEE: The
Company will appoint a Trustee or Trustees, each of which will hold office
until resignation or removal by the Company. The Trustee may resign at any time
upon 30 days' notice to the Company. The Trustee may be removed at any time by
the Company upon 30 days' notice to the Trustee with or without cause. Upon
resignation or removal of the Trustee, the Company will appoint a successor
Trustee that will have the same powers and duties as are conferred upon the
Trustee appointed under this Plan. The resigning or removed Trustee will
deliver to its successor Trustee all property of the Trust Fund, less a
reasonable amount necessary to provide for its compensation, expenses, and any
taxes or advances chargeable or payable out of the Trust Fund. If the Trustee
is an individual, death will be treated as a resignation, effective
immediately. If any corporate Trustee at any time is merged, or consolidated
with, or sells or transfers substantially all of its assets and business to
another corporation, whether state or federal, or is reorganized or
reincorporated in any manner, then the resulting or acquiring corporation will
be substituted for the corporate Trustee without the execution of any
instrument and without any action on the part of the Company, any Participant
or Beneficiary, or any other person having or claiming to have an interest in
the Trust Fund or under the Plan.

12.6     INVESTMENT MANAGER: The Trustee may appoint an investment manager to
assume powers or responsibilities for the investment and management of assets
of the Plan. The investment manager will assume full liability for all duties
and powers assigned to him or her and will be subject to the fiduciary
standards and responsibilities imposed by law. The Trustee will not be liable
for acts or omissions of the investment manager nor will the Trustee be under
an obligation to manage any assets of the Plan that are subject to the
management of an investment manager. Nothing in this paragraph will relieve any
Trustee of any liability under the Plan for any act or omission of the Trustee.
The investment manager will be a fiduciary (other than the Trustee, Trustee(s),
or named fiduciary):

         [a] who has the power to manage, acquire, or dispose of any assets of a
Plan;

         [b]  who is

                  [1] registered as an investment adviser under the Investment
Advisers Act of 1940;

                                      -67-
<PAGE>

                  [2]      a bank, as defined in that Act; or

                  [3]      an insurance company qualified to perform services
described in [a] under the laws of more than one state; and

         [c] who has acknowledged in writing that he or she is a fiduciary with
respect to the Plan.

12.7     PARTICIPANT DIRECTED INVESTMENT OF PROFIT-SHARING ACCOUNTS:

         [a]      GENERAL RULES FOR DIRECTION OF PROFIT-SHARING ACCOUNTS: Each
Participant may direct the Trustee's investment of his or her Profit-Sharing
Account, including the portion of his or her Account attributable to
Participant rollover contributions, Participant elective deferral
contributions, and Company Matching Contributions, as provided in this section.

         [b]     GENERAL RULES FOR DIRECTION OF ESOP ACCOUNTS: A Participant
may direct the Trustee's investment of his or her ESOP Account only as provided
in section 9.1.

         [c]      IDENTIFIED PLAN FIDUCIARY: The Trustee shall comply with any
Participant exercise of investment control as provided in this section. The
Trustee is under no duty to question any direction by a Participant or his or
her duly authorized agent with respect to investments, or to make suggestions
to the Participant or his or her duly authorized agent with respect to
investments.

         [d]       INVESTMENT INSTRUCTIONS NECESSARY: If a Participant fails to
direct the Trustee as to the investment of any portion of his or her Account,
that portion of his or her Account will be invested at the Trustee's discretion
until the Trustee receives effective investment directions. The right to direct
investments under this section will be the sole and exclusive investment power
granted to Participants. The exercise of investment direction by a Participant
will not cause the Participant to be a fiduciary solely by reason of such
exercise, and neither the Trustee nor any other fiduciary of this Plan will be
liable for any loss, or by reason of any breach, that results from exercise of
investment direction by a Participant. It is the intent of the Plan, the
Company, and the Trustee that this Plan and the Participant direction of
investment under this section comply with and be administered in accordance
with ERISA Section 404(c) and the final regulations thereunder.

         [e]      INVESTMENT CATEGORIES: The Trustee may offer investment
categories which may include fixed income obligations of a secure nature, such
as savings accounts, certificates of deposit, and fixed income government and
corporate obligations. The investment categories also may include common stock
(including Qualifying Employer Securities), real property (including Qualifying
Employer Real Property), notes, mortgages, commercial paper, preferred stocks,
mutual funds, or other securities, rights, obligations, or property, real or
personal, including shares or certificates of participation issued by regulated
investment trusts and shares or units of participation in qualified common
Trust Funds or pooled funds. Participant Accounts in investment categories
offered by the Trustee may be commingled. Investment categories may not include
collectibles within the meaning of Code Section 408(m). The Trustee will, at
all times, offer at least three investment alternatives

                                      -68-
<PAGE>

that will provide Participants with a broad range of investment alternatives
and that provide materially different risk and return characteristics.

         [f]      LIQUIDATION AND REINVESTMENT: Pursuant to rules established
by the Trustee, any designation of investment by a Participant on its effective
date will cancel any prior designations of that Participant with respect to
future contributions. Any Participant may instruct, on forms provided by the
Trustee, that the Trustee, on the date designated on such form or as soon
thereafter as practical, liquidate the Participant's interest in any category
of investment and reinvest the proceeds of such liquidation in any other
category designated by the Participant.

         [g]      EXPENSES: Any expense incurred by the Trust will be charged
directly against the value of the Account of the Participant on whose behalf
such expense is incurred. The Trustee may allocate expenses to individual
Accounts or commingled Accounts on a nondiscriminatory basis.

         [h]      INVESTMENT DIRECTION OF TERMINATED PARTICIPANTS: Upon the
termination of employment of a Participant whose Account becomes distributable
under an installment distribution option, such Participant may continue to
designate the investment of his or her Account annually pursuant to the
provisions of this section.

12.8     PARTICIPANT DIRECTION OF SUBSCRIPTION RIGHTS ISSUED ON QUALIFYING
EMPLOYER SECURITIES: It is contemplated that the Company (or an affiliate of
the Company) will issue to each shareholder of common stock of the Company (the
"Shareholders") subscription rights to purchase additional shares of common
stock of the Company (or an affiliate of the Company). The Participants in the
Plan will be permitted, pursuant to procedures promulgated by the Committee, to
direct the Trustee to exercise the subscription rights issued on Qualifying
Employer Securities allocated to the Participant's Account as of the record
date for the issuance of the subscription rights. In the event a Participant
wishes to direct the Trustee to exercise all or any portion of such
subscription rights issued with respect to the Participant's Account, and the
Company does not make contributions sufficient to cover the exercise of such
subscription rights, the Participant will direct the Trustee to liquidate such
investments currently held in the Participant's Account as are necessary to
cover the exercise price for such subscription rights. If the Participant does
not affirmatively direct the Trustee to exercise all of the subscription rights
issued with respect to the Participant's Account, any subscription rights not
exercised shall be permitted to expire.

                                      -69-
<PAGE>

                                  ARTICLE XIII

                            AMENDMENT AND TERMINATION

13.1     AMENDMENTS TO PLAN AND TRUST: At any time the Company may amend this
Plan and Trust by action of the Board of Directors, provided that no amendment
will cause the Trust Fund to be diverted to purposes other than for the
exclusive benefit of the Participants and their Beneficiaries. No amendment
will decrease the vested interest or Account balance of any Participant,
eliminate any optional form of distribution, or discriminate in favor of
Employees who are officers, shareholders, owner-employees, partner-Employees,
Key Employees, or Highly Compensated Employees. No amendment to the Plan
(including a change in the actuarial basis for determining optional benefits)
will be effective to the extent that it has the effect of decreasing a
Participant's accrued benefit. For purposes of this section, a Plan amendment
that has the effect of [1] eliminating or reducing an early retirement benefit
or a retirement-type subsidy, or [2] eliminating an optional form of benefit,
with respect to benefits attributable to service before the amendment, will be
treated as reducing accrued benefits. Notwithstanding anything in this Plan to
the contrary, the Plan and Trust may be amended at any time to conform to the
provisions and requirements of federal and state law or any amendments to laws
or regulations or rulings issued pursuant to them. No such amendment will be
considered prejudicial to the interest of any Participant or Beneficiary under
this Plan.

13.2     TERMINATION OF PLAN AND TRUST:

         [a]      GENERAL RULES: The Company expects to continue this Plan and
Trust indefinitely, but the continuance of the Plan and Trust is not assumed as
a contractual obligation by the Company and the right is reserved to the
Company to terminate this Plan and Trust in whole or part at any time. At any
time after termination of the Plan and Trust, but not before the earlier of [1]
the receipt of appropriate rulings as to qualification upon termination, or [2]
the receipt of instructions from the Plan Administrator, the Trustee may
distribute the interest of any Participant to him or her under Article VIII.
The Plan Administrator will file any required terminal reports. In its
discretion, the Company may require the Plan Administrator to receive a
favorable determination letter from the Internal Revenue Service stating that
the prior qualified status of the Plan and Trust has not been affected by
termination. Termination will take effect as of the date designated by the
Company. Upon termination of the Plan, unallocated forfeitures may be returned
to the Company in its discretion and to the extent permitted by law. The Plan
and Trust created by execution of this agreement will be terminated in the
event of the dissolution, consolidation, or merger of the Company, or the sale
by the Company of substantially all of its assets, unless the resulting
successor corporation or business entity adopts and continues the Plan and
Trust.

         [b]      TERMINATION OF PLAN AND CONTINUANCE OF TRUST: The Company, by
action of its Board of Directors, may terminate this Plan but retain the assets
of the Trust Fund and pay them under the terms of the Plan as if no Plan
termination had occurred. In his discretion the Plan

                                      -70-
<PAGE>

Administrator may request a favorable determination letter from the Internal
Revenue Service stating that the prior qualified status of the Plan and Trust
has not been affected by the termination. The termination of the Plan shall
take effect as of the date specified by the Board of Directors. The Plan
Administrator, on behalf of the Board of Directors, shall deliver a notice of
Plan termination and favorable determination letter, if obtained, to the
Committee and the Trustee. If the Plan is terminated under this paragraph, the
Trust shall continue until the earlier of such time as all the assets of the
Trust are distributed, the Trust term limits prescribed by state law are met,
or the Board of Directors terminates the Trust under paragraph [a].

13.3     DISTRIBUTIONS UPON TERMINATION OF PLAN AND TRUST: Upon the termination
of the Plan and Trust, if the Company does not maintain any other defined
contribution plan (other than an employee stock ownership plan, as defined in
Code Section 4975(e)(7)), the Trustee may distribute each Participant's
interest in the Plan in a lump sum within a reasonable period of time after the
termination of the Plan and Trust. For purposes of this section, a "reasonable
period of time" will include any time needed to obtain a favorable
determination letter from the Internal Revenue Service on the qualification of
the Plan and Trust upon such termination.

13.4     MERGER, CONSOLIDATION, OR TRANSFER OF ASSETS OR LIABILITIES OF THE
PLAN: The Company may merge or consolidate this Plan with any other plan and
may transfer all or part of the assets or liabilities of the Plan to, or to
this Plan from, any other plan if each Participant in the Plan would receive a
benefit immediately after the merger, consolidation, or transfer that is equal
to or greater than the benefit the Participant would have been entitled to
receive immediately before the merger, consolidation, or transfer (if the Plan
then had terminated).

                                      -71-
<PAGE>

                                   ARTICLE XIV

                                  MISCELLANEOUS

14.1     TEXT TO CONTROL: The headings of articles and sections are included
solely for convenience of reference. If there is any conflict between any
heading and the text of this Plan and Trust, the text will control.

14.2     SEVERABILITY: If any provision of this Plan and Trust is illegal or
invalid for any reason, the illegality or invalidity will not affect the
remaining provisions. On the contrary, the remaining provisions will be fully
severable, and this Plan and Trust will be construed and enforced as if the
illegal or invalid provisions never had been inserted in this agreement.

14.3     JURISDICTION: This Plan will be construed and administered under the
laws of the state in which the Company's principal place of business is located
when the laws of that jurisdiction are not in conflict with federal substantive
law.

14.4     RULES OF CONSTRUCTION: The masculine gender will include the feminine,
and the singular will include the plural.

14.5     BENEFITS TO BE PROVIDED SOLELY FROM THE TRUST FUND: All benefits
payable under this Plan will be paid or provided solely from the Trust Fund,
and the Company assumes no liability or responsibility for payment of benefits.

14.6     PLAN FOR EXCLUSIVE BENEFIT OF PARTICIPANTS; REVERSION PROHIBITED: This
Plan and Trust has been established for the exclusive benefit of the
Participants and their Beneficiaries. Under no circumstances will any funds
contributed to or held by the Trustee at any time revert to or be used by or
enjoyed by the Company except to the extent permitted by law.

                                      -72-
<PAGE>

                  IN WITNESS WHEREOF, the parties to this agreement have
executed this document by their duly authorized officers this 18th day of
October, 2000.

                                 FIRSTBANK
Attest:

                                 By:    /s/ Ken Huey, Jr.
                                    ---------------------------------------
                                        Ken Huey, Jr. President

                                 ACCESS ANYTIME BANCORP, INC.

                                 By:    /s/ Norm Corzine
                                     --------------------------------------
                                     Norm Corzine, Chairman of the Board and CEO

                                      -73-
<PAGE>

<TABLE>
<CAPTION>

                                                      I N D E X
                                                      ---------                                                PAGE
                                                                                                               ----
<S>               <C>                                                                                          <C>
ARTICLE I         PURPOSE OF PLAN AND TRUST.......................................................................1

ARTICLE II        DEFINITIONS.....................................................................................2

ARTICLE III       PARTICIPATION...................................................................................8
         3.2      DETERMINATION OF PARTICIPANTS...................................................................8
         3.3      PARTICIPATION UPON REEMPLOYMENT.................................................................8
         3.4      TERMINATION OF PARTICIPATION....................................................................8

ARTICLE IV        CONTRIBUTIONS...................................................................................9
         4.1      COMPANY CONTRIBUTIONS
         4.2      RETURN OF COMPANY CONTRIBUTIONS................................................................10
         4.3      COMPANY'S OBLIGATIONS..........................................................................11
         4.4      PARTICIPANT CONTRIBUTIONS......................................................................11
         4.5      ELECTIVE DEFERRAL RULES........................................................................12
         4.6      ACTUAL DEFERRAL PERCENTAGE TESTS...............................................................13
         4.7      AVERAGE CONTRIBUTION PERCENTAGE TEST
         4.8      QUALIFIED MATCHING CONTRIBUTIONS:..............................................................21

ARTICLE V         ALLOCATIONS AND VESTING........................................................................22
         5.1      ALLOCATION OF COMPANY CONTRIBUTIONS............................................................22
         5.2      PARTICIPANTS' ACCOUNTS.........................................................................23
         5.3      VALUATION OF PARTICIPANT ACCOUNTS..............................................................23
         5.4      VESTING OF PARTICIPANT ACCOUNTS................................................................25
         5.5      SUSPENSION OF CONTRIBUTIONS....................................................................27
         5.6      SAFE HARBOR ALLOCATION.........................................................................27

ARTICLE VI        LIMITATIONS ON ALLOCATIONS.....................................................................29
         6.1      DEFINITIONS....................................................................................29
         6.2      LIMITATION ON ANNUAL ADDITION..................................................................30
         6.3      LIMITATION ON COMBINED BENEFITS AND CONTRIBUTIONS OF ALL DEFINED CONTRIBUTION PLANS............31
         6.4      LIMITATION ON COMBINED BENEFITS AND CONTRIBUTIONS OF ALL DEFINED BENEFIT AND DEFINED
                  CONTRIBUTION PLANS
                  OF THE COMPANY.................................................................................32

ARTICLE VII       TOP HEAVY PROVISIONS...........................................................................35
         7.1      TOP HEAVY DETERMINATION........................................................................35
         7.2      TOP HEAVY RATIO................................................................................35
         7.3      DEFINITIONS....................................................................................36

                                                           -i-
<PAGE>

         7.4      MINIMUM CONTRIBUTIONS..........................................................................37
ARTICLE VIII      DISTRIBUTION FROM TRUST FUND...................................................................40
         8.1      DISTRIBUTION OF ACCOUNTS.......................................................................40
         8.2      ASSIGNMENT OF BENEFITS.........................................................................40
         8.3      FORFEITURE OF FORFEITABLE ACCOUNT ON TERMINATION OF EMPLOYMENT.................................42
         8.4      MANNER OF DISTRIBUTION OF ACCOUNT..............................................................43
         8.5      OTHER RULES FOR DISTRIBUTION...................................................................44
         8.6      WITHDRAWALS....................................................................................50
         8.7      ELIGIBLE ROLLOVER DISTRIBUTIONS................................................................52

ARTICLE IX        SPECIAL STOCK RULES............................................................................53
         9.1      RIGHT OF DIVERSIFICATION.......................................................................53
         9.2      DISTRIBUTION LIMITATIONS.......................................................................54
         9.3      VOTE OF QUALIFYING EMPLOYER SECURITIES HELD IN TRUST...........................................54
         9.4      RESTRICTIONS ON TRANSFERS OF QUALIFYING EMPLOYER SECURITIES....................................54
         9.5      NOTICE AND LEGEND..............................................................................55
         9.6      CLOSING........................................................................................56
         9.7      LEVERAGED ESOP.................................................................................56
         9.8      NON-TERMINABLE PROVISIONS......................................................................58
         9.9      FORFEITURE OF QUALIFYING EMPLOYER SECURITIES...................................................58

ARTICLE X         FIDUCIARY OBLIGATIONS..........................................................................59
         10.1     FIDUCIARY......................................................................................59
         10.2     GENERAL FIDUCIARY DUTIES.......................................................................59
         10.3     ALLOCATION OF FIDUCIARY RESPONSIBILITY.........................................................59
         10.4     LIABILITY OF FIDUCIARIES.......................................................................59
         10.5     PROHIBITED TRANSACTIONS........................................................................60
         10.6     RECEIPT OF BENEFITS BY FIDUCIARIES.............................................................61
         10.7     COMPENSATION AND EXPENSES OF FIDUCIARIES AND PLAN
                  ADMINISTRATION.................................................................................61
         10.8     SERVICE BY FIDUCIARIES AND DISQUALIFIED PERSONS................................................61
         10.9     PROHIBITION AGAINST CERTAIN PERSONS HOLDING CERTAIN POSITIONS..................................61

ARTICLE XI        PLAN ADMINISTRATOR AND COMMITTEE...............................................................62
         11.1     APPOINTMENT, RESIGNATION, AND REMOVAL OF PLAN ADMINISTRATOR AND COMMITTEE......................62
         11.2     ORGANIZATION AND OPERATION OF OFFICES OF PLAN ADMINISTRATOR AND COMMITTEE......................62
         11.3     DUTIES AND POWERS OF PLAN ADMINISTRATOR--REPORTING AND DISCLOSURE..............................62

                                                           -ii-
<PAGE>

          11.4    DUTIES AND POWERS OF COMMITTEE--IN GENERAL.....................................................63
          11.5    DUTIES AND POWERS OF COMMITTEE--KEEPING OF RECORDS.............................................64
          11.6    DUTIES AND POWERS OF COMMITTEE--CLAIMS PROCEDURE...............................................64
          11.7    DUTIES AND POWERS OF COMMITTEE--FUNDING POLICY.................................................65
          11.8    DUTIES AND POWERS OF COMMITTEE--BONDING OF FIDUCIARIES AND PLAN OFFICIALS......................65
          11.9    DUTIES AND POWERS OF COMMITTEE--QUALIFIED DOMESTIC RELATIONS ORDERS............................65

ARTICLE XII       POWERS AND DUTIES OF THE TRUSTEE...............................................................67
          12.1    INVESTMENT OF PLAN ASSETS......................................................................67
          12.2    RECORDS AND ACCOUNTS OF THE TRUSTEE............................................................67
          12.3    ADMINISTRATIVE POWERS OF THE TRUSTEE...........................................................67
          12.4    ADVICE OF COUNSEL..............................................................................69
          12.5    APPOINTMENT, RESIGNATION, REMOVAL, AND SUBSTITUTION OF TRUSTEE.................................69
          12.6    INVESTMENT MANAGER.............................................................................69
          12.7    PARTICIPANT DIRECTED INVESTMENT OF PROFIT-SHARING ACCOUNTS.....................................70

ARTICLE XIII      AMENDMENT AND TERMINATION......................................................................72
          13.1    AMENDMENTS TO PLAN AND TRUST...................................................................72
          13.2    TERMINATION OF PLAN AND TRUST..................................................................72
          13.3    DISTRIBUTIONS UPON TERMINATION OF PLAN AND TRUST...............................................73
          13.4    MERGER, CONSOLIDATION, OR TRANSFER OF ASSETS OR LIABILITIES OF THE PLAN........................73

ARTICLE XIV       MISCELLANEOUS..................................................................................74
          14.1    TEXT TO CONTROL................................................................................74
          14.2    SEVERABILITY...................................................................................74
          14.3    JURISDICTION...................................................................................74
          14.4    RULES OF CONSTRUCTION..........................................................................74
          14.5    BENEFITS TO BE PROVIDED SOLELY FROM THE TRUST FUND.............................................74
          14.6    PLAN FOR EXCLUSIVE BENEFIT OF PARTICIPANTS; REVERSION PROHIBITED...............................74

                                                  -iii-
<PAGE>

                                      -iv-
<PAGE>

                                  DOCUMENT LOCATER PAGE

HI:\CLIENT\MFOLEY\033265001\ESOP-2.PL.WPD
THIS DOCUMENT WAS LAST REVISED 2\14\01     3:33 P.M

</TABLE><PAGE>

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

                         QUESTAR MARKET RESOURCES, INC.

                                       TO

                                  BANK ONE, NA

                                     Trustee

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

                                    INDENTURE

                           Dated as of March ___, 2001

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

                                 DEBT SECURITIES

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

                         QUESTAR MARKET RESOURCES, INC.
              Reconciliation and tie between Trust Indenture Act of
                 1939 and Indenture, dated as of March ___, 2001

<TABLE>
<CAPTION>
Trust Indenture
  Act Section                                            Indenture Section
<S>                                                      <C>
Section 310(a)       .................................... 606(d)
                                                          609
                                                          610
           (b)       .................................... 603
                                                          606(d)
Section 311(a)       .................................... 603
           (b)       .................................... 703
Section 312(a)       .................................... 701
                                                          702
           (b)       .................................... 702
           (c)       .................................... 702
Section 313(a)       .................................... 703
           (b)       .................................... 703
           (c)       .................................... 703
                                                          704
           (d)       .................................... 703
Section 314(a)       .................................... 704
           (b)       .................................... Not Applicable
           (c)(1)    .................................... 102
           (c)(2)    .................................... 102
           (c)(3)    .................................... Not Applicable
           (d)       .................................... Not Applicable
           (e)       .................................... 101
                                                          102
                                                          203
Section 315(a)       .................................... 601(a)
           (b)       .................................... 703
           (c)       .................................... 601
           (d)       .................................... 601(a)
           (d)(1)    .................................... 601(a)
           (d)(2)    .................................... 601(c)
           (d)(3)    .................................... 601(e)
           (e)       .................................... Not Applicable
Section 316(a)(1)(A) .................................... 512
           (a)(1)(B) .................................... 513
           (a)(2)    .................................... Not Applicable
           (b)       .................................... 508
Section 317(a)(1)    .................................... 503
           (a)(2)    .................................... 504
           (b)       .................................... 1003

                                       i

<PAGE>

Section 318          .................................... 107
</TABLE>

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

<PAGE>

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                                               Page
                                                                                                               ----
<S>                                                                                                            <C>

                                   ARTICLE ONE

                        DEFINITIONS AND OTHER PROVISIONS
                             OF GENERAL APPLICATION

         SECTION 101.      Definitions............................................................................2
         SECTION 102.      Compliance Certificates and Opinions..................................................12
         SECTION 103.      Form of Documents Delivered to Trustee................................................13
         SECTION 104.      Acts of Holders.......................................................................13
         SECTION 105.      Notices, Etc., to Trustee and Company.................................................15
         SECTION 106.      Notice to Holders of Securities; Waiver...............................................16
         SECTION 107.      Conflict with Trust Indenture Act.....................................................17
         SECTION 108.      Effect of Headings and Table of Contents..............................................17
         SECTION 109.      Successors and Assigns................................................................17
         SECTION 110.      Separability Clause...................................................................17
         SECTION 111.      Benefits of Indenture.................................................................17
         SECTION 112.      Governing Law.........................................................................17
         SECTION 113.      Moneys of Different Currencies to be Segregated.......................................17
         SECTION 114.      Payment to be in Proper Currency......................................................18
         SECTION 115.      Language of Notices...................................................................18
         SECTION 116.      Legal Holidays........................................................................18

                                                    ARTICLE TWO

                                                  SECURITY FORMS

         SECTION 201.      Forms Generally.......................................................................19
         SECTION 202.      Form of Trustee's Certificate of Authentication.......................................19
         SECTION 203.      Securities in Global Form.............................................................20

                                                   ARTICLE THREE

                                                  THE SECURITIES

         SECTION 301.      Amount Unlimited; Issuable in Series..................................................20
         SECTION 302.      Currency; Denominations...............................................................24
         SECTION 303.      Execution, Authentication, Delivery and Dating........................................24
         SECTION 304.      Temporary Securities..................................................................26
         SECTION 305.      Registration, Registration of Transfer and Exchange...................................27
         SECTION 306.      Mutilated, Destroyed, Lost and Stolen Securities......................................30
         SECTION 307.      Payment of Interest and Certain Additional Amounts;
                           Rights to Interest and Certain Additional Amounts Preserved...........................31

                                     iii

<PAGE>

         SECTION 308.      Persons Deemed Owners.................................................................33
         SECTION 309.      Cancellation..........................................................................33
         SECTION 310.      Computation of Interest...............................................................34

                                                   ARTICLE FOUR

                                      SATISFACTION, DISCHARGE AND DEFEASANCE

         SECTION 401.      Satisfaction and Discharge of Indenture...............................................34
         SECTION 402.      Application of Trust Money............................................................35
         SECTION 403.      Satisfaction, Discharge and Defeasance of Securities of Any Series....................36

                                                   ARTICLE FIVE

                                                     REMEDIES

         SECTION 501.      Events of Default.....................................................................38
         SECTION 502.      Acceleration of Maturity; Rescission and Annulment....................................40
         SECTION 503.      Collection of Indebtedness and Suits for Enforcement by Trustee.......................41
         SECTION 504.      Trustee May File Proofs of Claim......................................................42
         SECTION 505.      Trustee May Enforce Claims Without Possession of Securities
                           or Coupons............................................................................42
         SECTION 506.      Application of Money Collected........................................................43
         SECTION 507.      Limitation on Suits...................................................................43
         SECTION 508.      Unconditional Right of Holders to Receive Principal and any
                           Premium, Interest and Additional Amounts..............................................44
         SECTION 509.      Restoration of Rights and Remedies....................................................44
         SECTION 510.      Rights and Remedies Cumulative........................................................44
         SECTION 511.      Delay or Omission Not Waiver..........................................................44
         SECTION 512.      Control by Holders....................................................................45
         SECTION 513.      Waiver of Past Defaults...............................................................45
         SECTION 514.      Waiver of Stay or Extension Laws......................................................45
         SECTION 515.      Judgment Currency.....................................................................46

                                                    ARTICLE SIX

                                                    THE TRUSTEE

         SECTION 601.      Certain Rights of Trustee.............................................................46
         SECTION 602.      Not Responsible for Recitals or Issuance of Securities................................48
         SECTION 603.      May Hold Securities...................................................................48
         SECTION 604.      Money Held in Trust...................................................................48
         SECTION 605.      Compensation and Reimbursement........................................................48
         SECTION 606.      Resignation and Removal; Appointment of Successor.....................................49

                                       iv

<PAGE>

         SECTION 607.      Acceptance of Appointment by Successor................................................50
         SECTION 608.      Merger, Conversion, Consolidation or Succession to Business...........................51
         SECTION 609.      Corporate Trustee Required; Eligibility...............................................52
         SECTION 610.      Appointment of Authenticating Agent...................................................52
         SECTION 611.      Notice of Defaults....................................................................54

                                                   ARTICLE SEVEN

                                 HOLDERS' LISTS AND REPORTS BY TRUSTEE AND COMPANY

         SECTION 701.      Company to Furnish Trustee Names and Addresses of Holders.............................54
         SECTION 702.      Preservation of Information; Communications to Holders................................54
         SECTION 703.      Reports by Trustee....................................................................55
         SECTION 704.      Reports by Company....................................................................55

                                                   ARTICLE EIGHT

                                           CONSOLIDATION, MERGER OR SALE

         SECTION 801.      Consolidation, Merger or Sale.........................................................56
         SECTION 802.      Successor Corporation Substituted.....................................................56

                                                   ARTICLE NINE

                                              SUPPLEMENTAL INDENTURES

         SECTION 901.      Supplemental Indentures Without Consent of Holders....................................57
         SECTION 902.      Supplemental Indentures with Consent of Holders.......................................58
         SECTION 903.      Execution of Supplemental Indentures..................................................60
         SECTION 904.      Effect of Supplemental Indentures.....................................................60
         SECTION 905.      Conformity with Trust Indenture Act...................................................60
         SECTION 906.      Reference in Securities to Supplemental Indentures....................................60

                                                    ARTICLE TEN

                                                     COVENANTS

         SECTION 1001.     Payment of Principal, Premium and Interest and
                                    Additional Amounts...........................................................60
         SECTION 1002.     Maintenance of Office or Agency.......................................................61
         SECTION 1003.     Money for Securities Payments to Be Held in Trust.....................................62
         SECTION 1004.     Additional Amounts....................................................................63
         SECTION 1005.     Corporate Existence...................................................................64
         SECTION 1006.     Limitation on Liens...................................................................64

                                       v

<PAGE>

         SECTION 1008.     Waiver of Covenant....................................................................69
         SECTION 1009.     Statements as to Compliance; Notice of Certain Defaults...............................69

                                                  ARTICLE ELEVEN

                                             REDEMPTION OF SECURITIES

         SECTION 1101.     Applicability of Article..............................................................70
         SECTION 1102.     Election to Redeem; Notice to Trustee.................................................70
         SECTION 1103.     Selection by Trustee of Securities to be Redeemed.....................................70
         SECTION 1104.     Notice of Redemption..................................................................71
         SECTION 1105.     Deposit of Redemption Price...........................................................72
         SECTION 1106.     Securities Payable on Redemption Date.................................................72
         SECTION 1107.     Securities Redeemed in Part...........................................................73

                                                  ARTICLE TWELVE

                                                   SINKING FUNDS

         SECTION 1201.     Applicability of Article..............................................................73
         SECTION 1202.     Satisfaction of Sinking Fund Payments with Securities.................................73
         SECTION 1203.     Redemption of Securities for Sinking Fund.............................................74

                                                 ARTICLE THIRTEEN

                                        REPAYMENT AT THE OPTION OF HOLDERS

         SECTION 1301.     Applicability of Article..............................................................74

                                                 ARTICLE FOURTEEN

                                         SECURITIES IN FOREIGN CURRENCIES

         SECTION 1401.     Applicability of Article..............................................................75

                                                  ARTICLE FIFTEEN

                                         MEETINGS OF HOLDERS OF SECURITIES

         SECTION 1501.     Purposes for Which Meetings May be Called.............................................75
         SECTION 1502.     Call, Notice and Place of Meetings....................................................75
         SECTION 1503.     Persons Entitled to Vote at Meetings..................................................76
         SECTION 1504.     Quorum; Action........................................................................76
         SECTION 1505.     Determination of Voting Rights; Conduct and Adjournment

                                      vi

<PAGE>

                                    of Meetings..................................................................77
         SECTION 1506.     Counting Votes and Recording Action of Meetings.......................................78
</TABLE>

                                       vii

<PAGE>

                  INDENTURE, dated as of March ___, 2001 (the "Indenture"),
between QUESTAR MARKET RESOURCES, INC., a corporation duly organized and
existing under the laws of the State of Utah (herein called "Company"), having
its principal office at 180 East 100 South Street, Salt Lake City, Utah 84111,
and BANK ONE, NA, a national banking association duly incorporated and existing
under the laws of the United States of America (herein called the "Trustee").

                            RECITALS OF THE COMPANY

                  The Company has duly authorized the execution and delivery of
this Indenture to provide for the issuance from time to time of its unsecured
debentures, notes or other evidences of indebtedness (herein called the
"Securities"), unlimited as to principal amount, to bear such rates of interest,
to mature at such time or times, to be issued in one or more series and to have
such other provisions as shall be fixed as hereinafter provided.

                  The Company has duly authorized the execution and delivery of
this Indenture. All things necessary to make this Indenture a valid agreement of
the Company, in accordance with its terms, have been done.

                  This Indenture is subject to the provisions of the Trust
Indenture Act of' 1939, as amended, and the rules and regulations of the
Securities and Exchange Commission promulgated thereunder that are required to
be part of this Indenture and, to the extent applicable, shall be governed by
such provisions.

                  NOW, THEREFORE, THIS INDENTURE WITNESSETH:

                  For and in consideration of the premises and the purchase of
the Securities by the Holders (as hereinafter defined) thereof, it is mutually
covenanted and agreed, for the equal and proportionate benefit of all Holders of
the Securities or of any series thereof and any Coupons (as hereinafter
defined), as follows:

                                       1

<PAGE>

                                   ARTICLE ONE

                        DEFINITIONS AND OTHER PROVISIONS
                             OF GENERAL APPLICATION

SECTION 101.      DEFINITIONS.

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

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

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

                  (3) all accounting terms not otherwise defined herein have the
meanings assigned to them in accordance with generally accepted accounting
principles and, except as to any computation required or permitted pursuant
to, and relating to any covenant of the Company contained in, any indenture
supplemental hereto relating to any series of Securities, which such
computation (unless otherwise provided in such supplemental indenture) shall
be made in accordance with generally accepted accounting principles as are
generally accepted at the date of such supplemental indenture, or except as
otherwise herein or in any indenture supplemental hereto expressly provided,
the term "generally accepted accounting principles" with respect to any
computation required or permitted hereunder shall mean such accounting
principles as are generally accepted at the date of such computation; and

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

                  (5) the word "or" is always used inclusively (for example, the
phrase "A or B" means "A or B or both", not "either A or B but not both").

                  Certain terms, used principally in Article Six, are defined in
that Article.

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

                  "Additional Amounts" means any additional amounts which are
required hereby or by any Security, under circumstances specified herein or
therein, to be paid by the Company in respect of certain taxes imposed on
Holders specified therein and which are owing to such Holders.

                  "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

                                      2

<PAGE>

of voting securities, by contract or otherwise; and the terms "controlling"
and "controlled" have meanings correlative to the foregoing.

                  "Attributable Debt" means, as of the date of determination,
the present value of net rent for the remaining term of a capital lease,
determined in accordance with GAAP, which is part of a Sale and Leaseback
Transaction, including any periods for which the lessee has the right to renew
or extend the lease. For purposes of the foregoing, "net rent" means the sum of
capitalized rental payments required to be paid by the lessee, other than
amounts required to be paid by the lessee for maintenance, repairs, insurance,
taxes, assessments, energy, fuel, utilities and similar charges. In the case of
a capital lease which is terminable by the lessee upon the payment of a penalty,
such net amount shall also include the amount of such penalty, but no rent shall
be considered to be required to be paid under such lease subsequent to the first
date upon which it may be so terminated.

                  "Authenticating Agent" means any Person authorized by the
Trustee pursuant to Section 610 to act on behalf of the Trustee to authenticate
Securities of one or more series.

                  "Authorized Newspaper" means a newspaper of general
circulation in the place of publication, printed in the official language of the
country of publication and customarily published on each Business Day, whether
or not published on Saturdays, Sundays or holidays. Whenever successive weekly
publications in an Authorized Newspaper are authorized or required hereunder,
they may be made (unless otherwise expressly provided herein) on the same or
different days of the week and in the same or different Authorized Newspapers.

                  "Bearer Security" means any Security in the form of bearer
securities established pursuant to Section 201 which is payable to bearer and is
not a Registered Security.

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

                  "Board Resolution" means a copy of a resolution certified by
the Secretary or an Assistant Secretary of the Company to have been duly adopted
by the Board of Directors and to be in full force and effect on the date of such
certification, and delivered to the Trustee.

                  "Book-Entry Security" means a security evidencing all or part
of a series of Securities, issued to the Depositary for such series of
Securities in accordance with Section 303, and bearing the legend prescribed in
Section 303.

                  "Business Day", when used with respect to any Place of
Payment, means each Monday, Tuesday, Wednesday, Thursday and Friday which is not
a day on which banking institutions in that Place of Payment are authorized or
obligated by law or executive order to close.

                  "Change of Control" means the occurrence of any of the
following:

                                       3

<PAGE>

                  (a) Questar Corporation or any of its affiliates ceases to
own, directly or indirectly, beneficially or of record or otherwise,
collectively more than 50% of the aggregate voting power of the voting stock of
the Company (or its successor by merger, consolidation or purchase of all or
substantially all of its assets);

                  (b) the sale, lease, transfer, conveyance or other
disposition (other than by way of merger or consolidation), in one or a
series of related transactions, of all or substantially all of the assets of
the Company and its Subsidiaries taken as a whole to any person or group (as
such term is used in Sections 13(d) and 14(d) of the Exchange Act) other than
to Questar Corporation or any of its affiliates; or

                  (c) the adoption by the stockholders of the Company of a plan
or proposal of the liquidation or dissolution of the Company.

                  "Commission" means the Securities and Exchange Commission, as
from time to time constituted, created under the Securities Exchange Act of
1934, as amended (the "Exchange Act"), or, if at any time after the execution of
this instrument such Commission is not existing and performing the duties now
assigned to it under the Trust Indenture Act, then the body performing such
duties at such time.

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

                  "Company Request" or "Company Order" means a written request
or order signed in the name of the Company by its Chairman of the Board, its
Vice Chairman of the Board, its President or a Vice President, and by its
Treasurer, an Assistant Treasurer, its Secretary or an Assistant Secretary, and
delivered to the Trustee.

                  "Consolidated Capitalization" means, without duplication, the
sum of (a) the principal amount of Consolidated Funded Debt of the Company and
its Subsidiaries at the time outstanding, (b) the total capital represented by
the capital stock of the Company and its Subsidiaries at the time outstanding,
based, in the case of stock having par value, upon its par value, and in the
case of stock having no par value, upon the value stated on the books of the
Company, (c) the total amount of (or less the amount of any deficit in) retained
earnings and paid-in capital of the Company and its Subsidiaries, (d) reserves
for deferred federal and state income taxes arising from timing differences, and
(e) Attributable Debt, all as shown on a consolidated balance sheet of the
Company and its Subsidiaries prepared in accordance with GAAP; PROVIDED that in
determining the consolidated retained earnings and paid-in capital of the
Company and its Subsidiaries no effect shall be given to any unrealized write-up
or write-down in the value of assets or any amortization thereof, except for
accumulated provisions for depreciation, depletion, amortization and property
retirement which shall have been created by charges made by the Company or any
of its Subsidiaries on its books.

                                       4

<PAGE>

                  "Consolidated Funded Debt" means the Funded Debt of the
Company and its Subsidiaries, consolidated in accordance with GAAP.

                  "Corporate Trust Office" means the principal office of the
Trustee in Chicago, Illinois, at which at any particular time its corporate
trust business shall be administered, which office at the date of initial
execution of this Indenture, as to the Trustee, is 1 Bank One Plaza, Suite 0126,
Chicago, Illinois 60602, Attention: Corporate Trust Department.

                  "Corporation" includes corporations, partnerships, limited
liability companies, associations, companies and business trusts.

                  "Coupon" means any interest coupon appertaining to any
Security.

                  "Currency" or "Money", with respect to any payment, deposit or
other transfer in respect of the principal of or any premium or interest on or
any Additional Amounts with respect to any Security, means the unit or units of
legal tender for the payment of public and private debts (or any composite
thereof) in which such payment, deposit or other transfer is required to be made
by or pursuant to the terms hereof and, with respect to any other payment,
deposit or transfer pursuant to or contemplated by the terms hereof, means
Dollars.

                  "Currency Indexed Note" means any Security with the amount of
principal payments determined by reference to an index Currency.

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

                  "Depositary" or "U.S. Depositary" means, with respect to the
Securities of any series issuable or issued in whole or in part in global form,
including Book-Entry Securities, the Person designated as Depositary or "U.S.
Depositary" by the Company pursuant to Section 301 until a successor Depositary
shall have become such pursuant to the applicable provisions of this Indenture,
and thereafter "Depositary" shall mean or include each Person who is then a
Depositary hereunder, and if at any time there is more than one such person
"Depositary" shall be a collective reference to such Persons. "Depositary" as
used with respect to the Securities of any such series shall mean the Depositary
with respect to the Securities of that series.

                  "Dollar" means the 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.

                  "ECU" means the European Currency Unit as defined and revised
from time to time by the Council of the European Communities.

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

                  "Foreign Currency" means a currency issued by the government
of any country other than the United States of America.

                                       5

<PAGE>

                  "Funded Debt" means all Indebtedness that will mature,
pursuant to a mandatory sinking fund or prepayment provision or otherwise, and
all installments of Indebtedness that will fall due, more than one year from the
date of determination. In calculating the maturity of any Indebtedness, there
shall be included the term of any unexercised right of the debtor to renew or
extend such Indebtedness existing at the time of determination.

                  "GAAP" means generally accepted accounting principles in the
United States, as in effect on the date on which the determination is to be made
under the Indenture.

                  "Government Obligations", with respect to any Security,
means (i) direct obligations of the government or governments which issued
the Currency in which the principal of or any premium or interest on such
Security or any Additional Amounts in respect thereof shall be payable, in
each case where the payment or payments thereunder are supported by the full
faith and credit of such government or governments or (ii) obligations of a
Person controlled or supervised by and acting as an agency or instrumentality
of such government or governments, in each case where the payment or payments
thereunder are unconditionally guaranteed as a full faith and credit
obligation by such government or governments, and which, in the case of (i)
or (ii), are not callable or redeemable at the option of the issuer or
issuers thereof, and shall also include a depository receipt issued by a bank
or trust company as custodian with respect to any such Government Obligation
or a specific payment of interest on or principal of or other amount with
respect to any such Government Obligation held by such custodian for the
account of the holder of a depository receipt, provided that (except as
required by law) such custodian is not authorized to make any deduction from
the amount payable to the holder of such depository receipt from any amount
received by the custodian in respect of the Government Obligation or the
specific payment of interest on or principal of or other amount with respect
to the Government Obligation evidenced by such depository receipt.

                  "Holder" means, with respect to a Registered Security, the
Person in whose name a Security is registered in the Security Register and, with
respect to a Bearer Security (or any temporary Global Security), and/or Coupons,
the bearer thereof.

                  "Indebtedness" means all items of indebtedness for borrowed
money (other than unamortized debt discount and premium) which would be included
in determining total liabilities as shown on the liability side of a balance
sheet prepared in accordance with GAAP as of the date as of which Indebtedness
is to be determined, and shall include indebtedness for borrowed money (other
than unamortized debt discount and premium) with respect to which the Company
or any Subsidiary customarily pays interest secured by any mortgage, pledge or
other lien or encumbrance of or upon, or any security interest in, any
properties or assets owned by the Company or any Subsidiary, whether or not the
Indebtedness secured thereby shall have been assumed, and shall also include
guarantees of Indebtedness of others; PROVIDED that in determining Indebtedness
of the Company or any Subsidiary there shall be included the aggregate
liquidation preference of all outstanding securities of any Subsidiary senior to
its Common Stock that are not owned by the Company or a Subsidiary; and
PROVIDED, FURTHER, that Indebtedness of any Person shall not include the
following:

                                       6

<PAGE>

                  (d) any indebtedness evidence of which is held in treasury
(but the subsequent resale of such indebtedness shall be deemed to constitute
the creation thereof); or

                  (e) any particular indebtedness if, upon or prior to the
maturity thereof, there shall have been deposited with a depository (or set
aside and segregated, if permitted by the instrument creating such
indebtedness), in trust, money (or evidence of such indebtedness as permitted by
the instrument creating such indebtedness) in the necessary amount to pay,
redeem or satisfy such indebtedness; or

                  (f) any indebtedness incurred to finance oil, natural gas,
hydrocarbon, inert gas or other mineral exploration or development to the extent
that the issuer thereof has outstanding advances to finance oil, natural gas,
hydrocarbon, inert gas or other mineral exploration or development, but only to
the extent such advances are not in default; or

                  (g) any indebtedness incurred without recourse to the Company
or any Subsidiary; or

                  (h) any indebtedness incurred to finance advance payments for
gas (pursuant to take-or-pay provisions or otherwise), but only to the extent
that such advance payments are pursuant to gas purchase contracts entered into
in the normal course of business; or

                  (i) any amount (whether or not included in determining total
liabilities as shown on the liability side of a balance sheet prepared in
accordance with GAAP) representing capitalized rent under any lease; or

                  (j) any indirect guarantees or other contingent obligations in
respect of indebtedness of other Persons, including agreements, contingent or
otherwise, with such other Persons or with third parties with respect to, or to
permit or assure the payment of, obligations of such other Persons, including,
without limitation, agreements to purchase or repurchase obligations of such
other Persons, to advance or supply funds to, or to invest in, such other
Persons, or to pay for property, products or services of such other Persons
(whether or not conveyed, delivered or rendered); demand charge contracts,
through-put, take-or-pay, keep-well, make-whole or maintenance of working
capital or similar agreements; or guarantees with respect to rental or similar
periodic payments to be made by such other Persons.

                  "Indenture" means this instrument as originally executed or as
it may from time to time be supplemented or amended by one or more indentures
supplemental hereto entered into pursuant to the applicable provisions hereof
and with respect to any Security, by the terms and provisions of such Security
and any Coupon appertaining thereto established as contemplated by Section 301
(as such terms and provisions may be amended pursuant to the applicable
provisions hereof) PROVIDED, HOWEVER, that, if at any time more than one Person
is acting as Trustee under this Indenture due to the appointment of one or more
separate Trustees for any one or more separate series of Securities, "Indenture"
shall mean, with respect to such series of Securities for which any such Person
is Trustee, this Indenture as originally executed or as it may from time to time
be supplemented or amended by one or more indentures supplemental hereto entered
into pursuant to the applicable provisions hereof and shall include the terms of
particular series of Securities for which such Person is Trustee established as
contemplated by Section 301, exclusive, however, of any provisions or terms
which relate solely to other series of Securities for

                                       7

<PAGE>

which such Person is not Trustee, regardless of when such terms or provisions
were adopted and exclusive of any provisions or terms adopted by means of one
or more indentures supplemental hereto executed and delivered after such
Person had become such Trustee but to which such Person, as such Trustee, was
not a party.

                  "Independent Public Accountants" means accountants or a firm
of accountants that, with respect to the Company and any other obligor under the
Securities or the Coupons, are independent public accountants within the meaning
of the Securities Act of 1933, as amended, and the rules and regulations
promulgated by the Commission thereunder, who may be the independent public
accountants regularly retained by the Company or who may be other independent
public accountants. Such accountants or firm shall be entitled to rely upon any
Opinion of Counsel as to the interpretation of any legal matters relating to the
Indenture or certificates required to be provided hereunder.

                  "Indexed Security" means a Security the terms of which provide
that the principal amount thereof payable at Stated Maturity may be more or less
than the principal face amount thereof at original issuance.

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

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

                  "Legal Holiday", with respect to any Place of Payment or other
location, means a Saturday, a Sunday or a day on which banking institutions or
trust companies in such Place of Payment or other location are authorized or
obligated to be closed.

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

                  "Moody's" means Moody's Investors Service or, if Moody's
Investors Service shall cease rating debt securities having a maturity at
original issue of at least one year and such ratings business shall have been
transferred to a successor Person, such successor Person; provided, however,
that if there is no successor Person, then "Moody's" shall mean any other
national recognized rating agency, other than S&P, that rates debt securities
having a maturity at original issuance of at least one year and that shall have
been designated by the Company.

                  "New York Business Day" means each weekday which is not a day
on which banking institutions in New York City are authorized or obligated by
law to close.

                  "Office or Agency", with respect to any Securities, means an
office or agency of the Company maintained or designated in a Place of Payment
for such Securities pursuant to Section 1002 or

                                       8

<PAGE>

any other office or agency of the Company maintained or designated for such
Securities pursuant to Section 1002 or, to the extent designated or required
by Section 1002 in lieu of such office or agency, the Corporate Trust Office
of the Trustee.

                  "Officers' Certificate" means a certificate signed (i) by the
Chairman of the Board, the Vice Chairman of the Board, the President or a Vice
President, and (ii) by the Controller, the Treasurer, an Assistant Treasurer,
the Secretary or an Assistant Secretary of the Company, that complies with the
requirements of Section 314(e) of the Trust Indenture Act and is delivered to
the Trustee.

                  "Opinion of Counsel" means a written opinion of counsel, who
may be an employee of or counsel for the Company or other counsel who shall be
reasonably acceptable to the Trustee, that complies with the requirements of
Section 314(e) of the Trust Indenture Act.

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

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

                  (i) Securities theretofore cancelled by the Trustee or the
Security Registrar or delivered to the Trustee or the Security Registrar for
cancellation;

                  (ii) Securities for whose payment or redemption (a) Money
in the necessary amount has been theretofore deposited with the Trustee or
any Paying Agent (other than the Company) in trust or set aside and
segregated in trust by the Company (if the Company shall act as its own
Paying Agent) for the Holders of such Securities or (b) U.S. Government
Obligations or Foreign Government Securities as contemplated by Section 403
in the necessary amount have been theretofore deposited with the Trustee in
trust for the Holders of such Securities in accordance with Section 403;
PROVIDED that, if such Securities are to be redeemed, notice of such
redemption has been duly given pursuant to this Indenture or provisions
therefor satisfactory to the Trustee has been made;

                  (iii) any such Security with respect to which the Company has
effected defeasance pursuant to Section 403 hereof; and

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

PROVIDED, HOWEVER, that in determining whether the Holders of the requisite
principal amount of the Outstanding Securities have given any request, demand,
authorization, direction, notice, consent or waiver hereunder or are present at
a meeting of Holders of Securities for quorum purposes, the principal amount

                                       9

<PAGE>

of any Original Issue Discount Securities that shall be deemed to be
Outstanding for such purposes shall be equal to the amount of the principal
thereof that would be due and payable as of the date of such determination
upon a declaration of acceleration of the maturity thereof pursuant to
Section 502, the principal amount of a Security denominated other than in
Dollars shall be deemed to be that amount of Dollars that could be obtained
for such principal amount on the basis of the spot rate of exchange for such
Foreign Currency or such currency unit as determined by the Company or by an
authorized exchange rate agent, the principal amount of any indexed Security
that may be counted in making such determination and that shall be deemed
outstanding for such purpose shall be equal to the principal face amount of
such Indexed Security at original issuance, unless otherwise provided in or
pursuant to this Indenture, and Securities owned by the Company or any other
obligor upon the Securities or any Affiliate of the Company or of such other
obligor shall be disregarded and deemed not to be Outstanding, except that,
in determining whether the Trustee shall be protected in relying upon any
such request, demand, authorization, direction, notice, consent or waiver,
only Securities which the Trustee knows to be so owned shall be so
disregarded. Securities so owned which have been pledged in good faith may be
regarded as Outstanding if the pledgee establishes to the satisfaction of the
Trustee the pledgee's right so to act with respect to such Securities and
that the pledgee is not the Company or any other obligor upon the Securities
or any Affiliate of the Company or of such other obligor.

                  "Paying Agent" means any Person, which may be the Company,
authorized by the Company to pay the principal of (and premium, if any) or
interest on, or any Additional Amounts with respect to any Securities or any
Coupon on behalf of the Company.

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

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

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

                  "Rating Agencies" means Moody's and S&P.

                  "Rating Date" means the earlier of the date of public notice
of (i) the occurrence of a Change of Control or (ii) the intention of the
Company to effect a Change of Control.

                  "Rating Decline" shall be deemed to have occurred if, no later
than 90 days after the Rating Date (which period shall be extended so long as
the rating of the Securities is under publicly

                                      10

<PAGE>

announced consideration for possible downgrade by either of the Rating
Agencies), either of the Rating Agencies assigns a rating to the Securities
that is lower than an investment grade rating. An investment grade rating
with respect to Moody's shall mean a rating of "Baa3" or higher and an
investment grade rating with respect to S&P shall mean a rating of "BBB-" or
higher.

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

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

                  "Registered Security" means any Security in the form of
Registered Securities established pursuant to Section 201 which is registered in
the Security Register.

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

                  "Required Currency" has the meaning specified in Section 114.

                  "Responsible Officer", when used with respect to the Trustee,
means an officer of the Corporate Trust Department of the Trustee engaged in the
administration of corporate trust matters.

                  "S&P" means Standard & Poor's Ratings Services or, if Standard
& Poor's Ratings Services shall cease rating debt securities having a maturity
at original issue of at least one year and such ratings business shall have been
transferred to a successor Person, such successor Person; provided, however,
that if there is no successor Person, then "S&P" shall mean any other national
recognized rating agency, other than Moody's, that rates debt securities having
a maturity at original issuance of at least one year and that shall have been
designated by the Company.

                  "Sale and Leaseback Transaction" means an arrangement in which
the Company or a Subsidiary sells any of its property which was placed into
service more than 120 days prior to such sale to a Person and leases it back
from that Person within 180 days of the sale.

                  "Security" or "Securities" has the meaning stated in the first
recital of this Indenture and more particularly means any Securities
authenticated and delivered under this Indenture; provided, however, that, if at
any time there is more than one Person acting as Trustee under this Indenture,
"Securities" shall mean Securities authenticated and delivered under this
Indenture, exclusive, however, of Securities of any series as to which such
Person is not Trustee.

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

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

                                      11

<PAGE>

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

                  "Subsidiary" means a corporation more than 50% of the
outstanding Voting Stock of which is owned, directly or indirectly, by the
Company or by one or more other Subsidiaries, or by the Company and one or more
other Subsidiaries.

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

                  "Trust Indenture Act" means the Trust Indenture Act of 1939,
as amended, as in force at the date as of which this instrument was executed,
except as provided in Section 905.

                  "United States", except as otherwise provided herein or in any
Security, means the United States of America (including the states thereof and
the District of Columbia), its territories and possessions and other areas
subject to its jurisdiction.

                  "United States Alien", except as otherwise provided in or
pursuant to this Indenture, means any Person who, for United States Federal
income tax purposes, is a foreign corporation, a non-resident alien individual,
a non-resident alien fiduciary of a foreign estate or trust, or a foreign
partnership one or more of the members of which is, for United States Federal
income tax purposes, a foreign corporation, a non-resident alien individual or a
non-resident alien fiduciary of a foreign estate or trust.

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

                  "Voting Stock" means stock of the class or classes of any
corporation having general voting power under ordinary circumstances to elect
at least a majority of the board of directors, managers or trustees of such
corporation (irrespective of whether or not at the time stock of any other
class or classes of such corporation shall have or might have voting power by
reason of the happening of any contingency) provided that, for the purposes
hereof, stock which carries only the right to vote conditionally on the
happening of an event shall not be considered voting stock whether or not
such event shall have happened.

                                     12

<PAGE>

SECTION 102.      COMPLIANCE CERTIFICATES AND OPINIONS.

                  Upon any Company Request made by the Company to the Trustee to
take any action under any provision of this Indenture, the Company shall furnish
to the Trustee an Officers' Certificate stating that all conditions precedent,
if any, provided for in this Indenture relating to the proposed action have been
complied with and an Opinion of Counsel stating that, in the opinion of such
counsel, all such conditions precedent, if any, have been complied with, except
that in the case of any such Company Request as to which the furnishing of such
documents or any of them is specifically required by any provision of this
Indenture relating to such particular Company Request, no additional certificate
or opinion need be furnished. Each such Officers' Certificate and Opinion of
Counsel shall comply with Section 314(e) of the Trust Indenture Act.

SECTION 103.      FORM OF DOCUMENTS DELIVERED TO TRUSTEE.

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

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

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

SECTION 104.      ACTS OF HOLDERS.

                  (a) Any request, demand, authorization, direction, notice,
consent, waiver or other action provided by this Indenture to be given 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. If, but only if, Securities of a series are
issuable as Bearer Securities, any request, demand, authorization, direction,
notice, consent, waiver or other action provided by this Indenture to be
given or taken by Holders of Securities of such series may, alternatively, be
embodied in and evidenced by the record of Holders of Securities of such
series voting in favor thereof, either in person or by proxies

                                       13

<PAGE>

duly appointed in writing, at any meeting of Holders of Securities of such
series duly called and held in accordance with the provisions of Article
Fifteen, or a combination of such instruments and any such record. Except as
herein otherwise expressly provided, such action shall become effective when
such instrument or instruments or record or both are delivered to the Trustee
and, where it is hereby expressly required, to the Company. Such instrument
or instruments and any such record (and the action embodied therein and
evidenced thereby) are herein sometimes referred to as the "Act" of the
Holders signing such instrument or instruments or so voting at any such
meeting. Proof of execution of any such instrument or of a writing appointing
any such agent, or of the holding by any Person of a Security, shall be
sufficient for any purpose of this Indenture and (subject to Section 315 of
the Trust Indenture Act) conclusive in favor of the Trustee and the Company
and any agent of the Trustee or the Company, if made in the manner provided
in this Section. The record of any meeting of Holders of Securities shall be
proved in the manner provided in Section 1506.

                  Without limiting the generality of this Section 104, unless
otherwise provided in or pursuant to this Indenture, a Holder, including a U.S.
Depositary that is a Holder of a global Security, 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
this Indenture to be made, given or taken by Holders, and a U.S. Depository that
is a Holder of a global Security may provide its proxy or proxies to the
beneficial owners of interests in any such global Security through such U.S.
Depositary's standing instructions and customary practices.

                  The Trustee or the Company shall fix a record date for the
purpose of determining the Persons who are beneficial owners of interest in any
permanent global Security held by a U.S. Depositary entitled under the
procedures of such U.S. Depositary to 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 this Indenture to be made,
given or taken by Holders. If such a record date is fixed, the Holders on such
record date or their duly appointed proxy or proxies, and only such Persons,
shall be entitled to make, give or take such request, demand, authorization,
direction, notice, consent, waiver or other action, whether or not such Holders
remain Holders after such record date. No such request, demand, authorization,
direction, notice, consent, waiver or other action shall be valid or effective
if made, given or taken more than 90 days after such record date.

                  (b) 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 the Trustee deems sufficient.

                  (c) The ownership, principal amount and serial numbers of
Bearer Securities held by any Person, and the date of the commencement and the
date of termination of holding the same, may be proved by the production of such
Bearer Securities or by a certificate executed, as Depositary, by any

                                       14

<PAGE>

trust company, bank, banker or other depositary reasonably acceptable to the
Company, wherever situated, if such certificate shall be deemed by the
Trustee to be satisfactory, showing that at the date therein mentioned such
Person had on deposit with such Depositary, or exhibited to it, the Bearer
Securities therein described; or such facts may be proved by the certificate
or affidavit of the Person holding such Bearer Securities, if such
certificate or affidavit is deemed by the Trustee to be satisfactory. The
Trustee and the Company may assume that such ownership of any Bearer Security
continues until (1) another certificate or affidavit bearing a later date
issued in respect of the same Bearer Security is produced, (2) such Bearer
Security is produced to the Trustee by some other Person, (3) such Bearer
Security is surrendered in exchange for a Registered Security or (4) such
Bearer Security is no longer Outstanding.

                  (d) The fact and date of execution of any such instrument or
writing pursuant to clause (c) above, the authority of the Person executing the
same and the principal amount and serial numbers of Bearer Securities held by
the Person so executing such instrument or writing and the date of the com
mencement and the date of termination of holding the same may also be proved in
any other manner which the Trustee deems sufficient; and the Trustee may in any
instance require further proof with respect to any of the matters referred to in
this clause.

                  (e) The ownership of Registered Securities shall be proved by
the Security Register.

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

                  (g) Whenever for purposes of any Act to be taken hereunder by
the Holders of a series of Securities denominated in a Foreign Currency (or any
currency unit), the principal amount of Securities is required to be determined,
the aggregate principal amount of such Securities shall be deemed to be that
amount of Dollars that could be obtained for such principal amount on the basis
of the spot rate of exchange for such Foreign Currency or such currency unit as
determined by the Company or by an authorized exchange rate agent and evidenced
to the Trustee by an Officers' Certificate as of the date taking of such Act by
the Holders of the requisite percentage in principal amount of the Securities is
evi denced to the Trustee. An exchange rate agent may be authorized in advance
or from time to time by the Company, and may be the Trustee or its Affiliate.
Any such determination by the Company or by any such exchange rate agent shall
be conclusive and binding on all Holders, the Company and the Trustee, and
neither the Company nor any such exchange rate agent shall be liable therefor in
the absence of bad faith.

                  (h) If the Company shall solicit from the Holders of any
Registered Securities, any request, demand, authorization, direction, notice,
consent, waiver or other Act, the Company may, at its option, by or pursuant to
a Board Resolution, fix in advance a record date for the determination of
Holders of Registered Securities entitled to give such request, demand,
authorization, direction, notice, consent,

                                       15

<PAGE>

waiver or other 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 Act may be given before or after such record
date, but only the Holders of Registered Securities 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
Securities have authorized or agreed or consented to such request, demand,
authorization, direction, notice, consent, waiver or other Act, and for that
purpose the Outstanding Securities shall be computed as of such record date;
PROVIDED that no such authorization, agreement or consent by the Holders on
such record date shall be deemed effective unless it shall become effective
pursuant to the provisions of this Indenture not later than six months after
the record date.

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

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

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

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

SECTION 106.      NOTICE TO HOLDERS OF SECURITIES; WAIVER.

                  Where this Indenture provides for notice to Holders of
Securities of any event, (i) if any of the Securities affected by such event are
Registered Securities, such notice to the Holders thereof shall be sufficiently
given (unless otherwise herein expressly provided) if in writing and mailed,
first-class postage prepaid, to each such Holder affected by such event, at his
address as it appears in the Security Register, within the time prescribed for
the giving of such notice and (ii) if any of the Securities affected by such
event are Bearer Securities, notice to the Holders thereof shall be sufficiently
given (unless otherwise herein or in the terms of such Bearer Securities
expressly provided) if published once in an Authorized Newspaper in New York,
New York, and in such other city or cities, if any, as may be specified in such
Securities and, if the Securities of such series are listed on any stock
exchange outside the United States, in any place at which such Securities are
listed on a securities exchange to the extent that such securities exchange so
requires, and mailed to such Persons whose names and addresses as were
previously filed with the Trustee, within the time prescribed for giving such
notice. In any case where notice to Holders is given by mail, neither the
failure to mail such notice, nor any defect in any notice so mailed, to any
particular Holder shall affect the sufficiency of such notice with respect to
other Holders. In case by reason of the suspension of publication of any
Authorized Newspaper or Authorized Newspapers or by reason of any other cause it
shall be impracticable to publish any notice to Holders of

                                      16

<PAGE>

Bearer Securities as provided above, then such publication in lieu thereof as
shall be made with the approval of the Trustee shall constitute a sufficient
publication of such notice. Neither failure to give notice by publication to
Holders of Bearer Securities as provided above, nor any defect in any notice
so published, shall affect the sufficiency of any notice mailed to Holders of
Registered Securities as provided above.

                  Any notice which is mailed in the manner herein provided shall
be conclusively presumed to have been duly given or provided. In case by reason
of the suspension of regular mail service or by reason of any other cause it
shall be impracticable to give such notice as provided above, then such
notification as shall be made with the approval of the Trustee shall constitute
a sufficient notification for every purpose hereunder.

                  Where this Indenture provides for notice in any manner, such
notice may be waived in writing by the Person entitled to receive such notice,
either before or after the event, and such waiver shall be the equivalent of
such notice. Waivers of notice by Holders shall be filed with the Trustee, but
such filing shall not be a condition precedent to the validity of any action
taken in reliance upon such waiver.

SECTION 107.      CONFLICT WITH TRUST INDENTURE ACT.

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

SECTION 108.      EFFECT OF HEADINGS AND TABLE OF CONTENTS.

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

SECTION 109.      SUCCESSORS AND ASSIGNS.

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

SECTION 110.      SEPARABILITY CLAUSE.

                  In case any provision in this Indenture, any Security or any
Coupon 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.

                                       17

<PAGE>

SECTION 111.      BENEFITS OF INDENTURE.

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

SECTION 112.      GOVERNING LAW.

                  This Indenture, the Securities and any Coupons shall be
governed by and construed in accordance with the laws of the State of New York
applicable to agreements made or instruments entered into and, in each case,
performed in such state.

SECTION 113.      MONEYS OF DIFFERENT CURRENCIES TO BE SEGREGATED.

                  The Trustee shall segregate monies, funds, and accounts held
by the Trustee hereunder in one currency (or unit thereof) from any monies,
funds or accounts in any other currencies (or units thereof), notwithstanding
any provision herein which would otherwise permit the Trustee to commingle such
amounts.

SECTION 114.      PAYMENT TO BE IN PROPER CURRENCY.

                  The following provisions of this Section 114 shall apply to
the extent permitted by applicable law: In the case of any Security payable in
any particular currency or currency unit (the "Required Currency"), except as
otherwise provided herein, therein or in or pursuant to the related Board
Resolution or supplemental indenture or as contemplated by Section 301, the
obligation of the Company to make any payment of principal, premium or interest
thereon shall not be discharged or satisfied by any tender by the Company, or
recovery by the Trustee, in any currency or currency unit other than the
Required Currency, except to the extent that such tender or recovery shall
result in the Trustee timely holding the full amount of the Required Currency
then due and payable. If any such tender or recovery is made in other than the
Required Currency, the Trustee may, but shall not be obligated to, take such
actions as it considers appropriate to exchange such other currency or currency
unit for the Required Currency. The costs and risks of any such exchange,
including without limitation the risks of delay and exchange rate fluctuation,
shall be borne by the Company, the Company shall remain fully liable for any
shortfall or delinquency in the full amount of the Required Currency then due
and payable and in no circumstances shall the Trustee be liable therefor. The
Company hereby waives any defense of payment based upon any such tender or
recovery which is not in the Required Currency, or which, when exchanged for the
Re quired Currency by the Trustee, is less than the full amount of Required
Currency then due and payable.

                                      18

<PAGE>

SECTION 115.      LANGUAGE OF NOTICES.

                  Any request, demand, authorization, direction, notice,
consent, election or waiver required or permitted under this Indenture shall be
in the English language, except that, if the Company so elects, any published
notice may be in an official language of the country of publication.

SECTION 116.      LEGAL HOLIDAYS.

                  In any case where any Interest Payment Date, Stated Maturity
or Maturity of any Security shall be a Legal Holiday at any Place of Payment,
then (notwithstanding any other provision of this Indenture, any Security or any
Coupon other than a provision in this Indenture, any Security or Coupon that
specifically states that such provision shall apply in lieu of this Section)
payment need not be made at such Place of Payment on such date, but may be made
on the next succeeding day that is a Business Day at such Place of Payment with
the same force and effect as if made on the Interest Payment Date or at the
Stated Maturity or Maturity, and no interest shall accrue on the amount payable
on such date or at such time for the period from and after such Interest Payment
Date or Stated Maturity or Maturity, as the case may be.

                                 ARTICLE TWO

                               SECURITY FORMS

SECTION 201.      FORMS GENERALLY.

                  The Securities of each series and the Coupons, if any, to be
attached thereto shall be in substantially such form as shall be established by
or pursuant to a Board Resolution or in one or more indentures supplemental
hereto, in each case with such appropriate insertions, omissions, substitutions
and other variations as are required or permitted by this Indenture or indenture
supplemental hereto, and may have such letters, numbers or other marks of
identification and such legends or endorsements placed thereon as may be
required to comply with the rules of any securities exchange or as may,
consistently herewith, be determined by the officers executing such Securities
and Coupons, if any, as evidenced by their execution of the Securities and
Coupons, if any. If temporary Securities of any series are issued in global form
as permitted by Section 304, the form thereof also shall be established as
provided in the preceding sentence. If the forms of Securities and Coupons, if
any, of any series are established by, or by action taken pursuant to, a Board
Resolution, a copy of the Board Resolution together with an appropriate record
of any such action taken pursuant thereto, including a copy of the approved form
of Securities or Coupons, if any, shall be certified by the Secretary or an
Assistant Secretary of the Company and delivered to the Trustee at or prior to
the delivery of the Company Order contemplated by Section 303 for the
authentication and delivery of such Securities.

                  The Trustee's certificates of authentication shall be in
substantially the form set forth in Section 202.

                                      19

<PAGE>

                  Unless otherwise provided in or pursuant to this Indenture,
the Securities shall be issuable in registered form without Coupons and shall
not be issuable upon the exercise of warrants.

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

SECTION 202.      FORM OF TRUSTEE'S CERTIFICATE OF AUTHENTICATION.

                  Subject to Section 610, the Trustee's certificate of
authentication shall be in substantially the following form:

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

                                       BANK ONE, NA
                                       as Trustee

                                         --------------------------------------
                                                  Authorized Signatory

SECTION 203.      SECURITIES IN GLOBAL FORM.

                  If Securities of a series are issuable in whole or in part in
global form, any such Security may provide that it shall represent the aggregate
or specified amount of Outstanding Securities from time to time endorsed thereon
and may also provide that the aggregate amount of Outstanding Securities
represented thereby may from time to time be reduced to reflect exchanges. Any
endorsement of a Security in global form to reflect the amount, or any increase
or decrease in the amount or changes in the rights of Holders of Outstanding
Securities represented thereby, shall be made in such manner and by such Person
or Persons as shall be specified therein or in the Company Order to be delivered
pursuant to Section 303 or 304 with respect thereto. Subject to the provisions
of Section 303 and, if applicable, Section 304, the Trustee shall deliver and
redeliver any Security in permanent global form in the manner and upon
instructions given by the Person or Persons specified therein or in the
applicable Company Order. If a Company Order pursuant to Section 303 or 304 has
been, or simultaneously is, delivered, any instructions by the Company with
respect to a Security in global form shall be in writing but need not be
accompanied by or contained in an Officers' Certificate and need not be
accompanied by an Opinion of Counsel. Any instructions by the Company with
respect to a Security in global form shall be in writing but need not comply
with Section 314(e) of the Trust Indenture Act.

                                       20

<PAGE>

                                 ARTICLE THREE

                                 THE SECURITIES

SECTION 301.      AMOUNT UNLIMITED; ISSUABLE IN SERIES.

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

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

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

                  (2) any limit upon the aggregate principal amount of the
Securities of the series which may be authenticated and delivered under this
Indenture (except for Securities authenticated and delivered upon registration
of transfer of, or in exchange for, or in lieu of, other Securities of such
series pursuant to Sections 304, 305, 306, 309, 403, 906, 1106, 1107 or 1203);

                  (3) the date or dates, or the method, if any, by which such
date or dates shall be determined, on which the principal (and premium, if any)
of the Securities of the series is payable;

                  (4) the rate or rates at which the Securities of the series
shall bear interest, if any, or the method, if any, by which such rate or
rates are to be determined, the date or dates from which such interest shall
accrue, or the method, if any, by which such date or dates shall be
determined, the Interest Payment Dates, if any, on which such interest shall
be payable and the Regular Record Date, if any, for the interest payable on
any Interest Payment Date, whether and under what circumstances Additional
Amounts on such Securities or any of them shall be payable, and the basis
upon which interest shall be calculated if other than that of a 360-day year
of twelve 30-day months;

                  (5) the Person to whom any interest on any Registered
Securities of the series shall be payable if other than the Person in whose name
that Security (or one or more Predecessor Securities) is registered at the close
of business on the Regular Record Date for such interest and the manner in
which, or the Person to whom, any interest on any Bearer Securities of the
series shall be payable if otherwise than upon presentation and surrender of the
coupons appertaining thereto as they severally mature;

                  (6) if in addition to or other than in Chicago, Illinois, the
place or places where the principal of (and premium, if any) and interest on or
any Additional Amounts with respect to the Securities of the series shall be
payable;

                  (7) whether any of such Securities are to be redeemable at the
option of the Company and, if so, the period or periods within which or the date
or dates on which, the price or prices at which

                                      21

<PAGE>

and the terms and conditions upon which Securities of the series may be
redeemed, in whole or in part, at the option of the Company;

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

                  (9) the denominations in which any of such Securities that are
Registered Securities shall be issuable if other than denominations of $1,000
and any integral multiple thereof, and the denominations in which any of such
Securities that are Bearer Securities shall be issuable if other than the
denomination of $5,000;

                  (10) if other than the principal amount thereof, the portion
of the principal amount of Securities of the series which shall be payable upon
declaration of acceleration of the Maturity thereof pursuant to Section 502 or
the method by which such portion is to be determined;

                  (11) whether Bearer Securities of the series are to be
issuable and if so, whether Registered Securities are to be issuable and whether
the Bearer Securities are to be issuable with Coupons, without Coupons or both,
and any restrictions applicable to the offer, sale or delivery of the Bearer
Securities and the terms, if any, upon which Bearer Securities may be exchanged
for Registered Securities and vice versa;

                  (12) the date as of which any Bearer Securities of the series
and any temporary global Security representing Outstanding Securities of the
series shall be dated if other than the date of original issuance of the first
Security of the series to be issued;

                  (13) if Bearer Securities of the series are to be issuable,
whether interest in respect of any portion of a temporary Bearer Security in
global form (representing all of the Outstanding Bearer Securities of the
series) payable in respect of any Interest Payment Date prior to the
exchange, if any, of such temporary Bearer Security for definitive Securities
of the series shall be paid to any clearing organization with respect to the
portion of such temporary Bearer Security held for its account and, in such
event, the terms and conditions (including any certification requirements)
upon which any such interest payment received by a clearing organization will
be credited to the Persons entitled to interest payable on such Interest
Payment Date;

                  (14) the currency of denomination of the Securities of any
series, which may be in Dollars, any Foreign Currency or any composite currency,
including but not limited to the ECU, and, if such currency of denomination is a
composite currency other than the ECU, the agency or organization, if any,
responsible for overseeing such composite currency;

                  (15) the currency or currencies in which payment of the
principal of (and premium, if any) and interest on or any Additional Amounts
with respect to the Securities will be made, and the

                                      22

<PAGE>

currency or currencies (in addition to Dollars), if any, in which payment of
the principal of (and premium, if any) or the interest on Registered
Securities, at the election of each of the Holders thereof, may also be
payable;

                  (16) if the amount of payments of principal of (and premium,
if any) or, interest on or any Additional Amounts with respect to the Securities
of the series may be determined with reference to an index based on a currency
or currencies other than that in which the Securities are denominated or
designated to be payable, the terms and conditions upon which and the manner in
which such amounts shall be determined and paid or payable;

                  (17) if the payments of principal of (and premium, if any) or
the interest on or any Additional Amounts with respect to the Securities of the
series are to be made in a Foreign Currency other than the Foreign Currency in
which such Securities are denominated, the manner in which the exchange rate
with respect to such payments shall be determined;

                  (18) any deletions from, modifications of or additions to the
Events of Default set forth in Section 501 or covenants of the Company set forth
in Article Ten pertaining to the Securities of the series;

                  (19) the form of the Securities and Coupons, if any, of the
series;

                  (20) whether the Securities of such series shall be issued in
whole or in part in global form, including Book-Entry Securities, and the
Depositary for such global Securities and, if so, (i) whether beneficial owners
of interests in any such global Security may exchange such interest for
Securities of the same series and of like tenor and of any authorized form and
denomination, and the circumstances under which any such exchanges may occur, if
other than in the manner specified in Section 305, and (ii) the name of the
Depositary or the U.S. Depositary, as the case may be, with respect to any
global Security;

                  (21)  the application, if any, of Section 403;

                  (22)  the application, if any, of Section 1007;

                  (23) if any of such Securities are to be issuable upon the
exercise of warrants, this shall be so established and (if established by Board
Resolution) so set forth, as well as the time, manner and place for such
Securities to be authenticated and delivered;

                  (24) if any of such Securities are to be issuable in global
form and are to be issuable in definitive form (whether upon original issue or
upon exchange of a temporary Security) only upon receipt of certain certificates
or other documents or satisfaction of other conditions, then the form and terms
of such certificates, documents or conditions;

                  (25) if there is more than one Trustee, the identity of the
Trustee and, if not the Trustee, the identity of each Security Registrar, Paying
Agent or Authenticating Agent with respect to such Securities; and

                                      23

<PAGE>

                  (26) any other terms of the series of Securities (which terms
shall not be inconsistent with the provisions of this Indenture).

                  All Securities (including Coupons, if any) of any one series
shall be substantially identical except as to Currency of payments due
thereunder, denomination and the rate or rates of interest, if any, the method
or methods, if any, by which such rate or rates are to be determined and
Maturity, the date from which interest, if any, shall accrue and except as may
otherwise be provided in or pursuant to such Board Resolution and set forth in
such Officers' Certificate or in any such indenture supplemental hereto. All
Securities 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 Securities of such series or to establish additional terms of such
series of Securities.

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

SECTION 302.      CURRENCY; DENOMINATIONS.

                  Unless otherwise provided in or pursuant to this Indenture,
the principal of, any premium and interest on and any Additional Amounts with
respect to the Securities shall be payable in Dollars. The Securities of each
series shall be issuable in such denominations as shall be specified as
contemplated by Section 301. In the absence of any such provisions with respect
to the Securities of any series, the Securities of such series shall be issuable
in denominations of $1,000, if Registered Securities, in denominations of
$5,000, if Bearer Securities, and, in the case of Registered Securities, any
integral multiple of the applicable denomination.

SECTION 303.      EXECUTION, AUTHENTICATION, DELIVERY AND DATING.

                  The Securities shall be executed on behalf of the Company by
its Chairman of the Board, its Vice Chairman of the Board, its President or one
of its Vice Presidents, under its corporate seal reproduced thereon attested by
the signature of its Secretary or one of its Assistant Secretaries or its
Treasurer or one of its Assistant Treasurers. The Coupons, if any, shall be
executed on behalf of the Company by its Chairman of the Board, its Vice
Chairman of the Board, its President or one of its Vice Presidents attested by
its Secretary or any Assistant Secretary or its Treasurer or one of its
Assistant Treasurers. The signature of any of these officers on the Securities
(and Coupons, if any) may be manual or facsimile.

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

                                      24

<PAGE>

                  At any time and from time to time after the execution and
delivery of this Indenture, the Company may deliver Securities (with or without
Coupons) of any series executed by the Company to the Trustee for
authentication, together with a Company Order for the authentication and
delivery of such Securities, and the Trustee in accordance with the Company
Order shall authenticate and deliver such Securities. In authenticating such
Securities, and accepting the additional responsibilities under this Indenture
in relation to such Securities, the Trustee shall be entitled to receive, and,
subject to Sections 315(a) through 315(d) of the Trust Indenture Act, shall be
fully protected in relying upon,

                       (i) an Opinion of Counsel stating to the effect that:

                           (a) the form or forms of such Securities and Coupons,
if any, have been established in conformity with the provisions of this
Indenture;

                           (b) the terms of such Securities and Coupons, if any,
have been established in conformity with the provisions of this Indenture;

                           (c) the terms of the Securities and Coupons, if any,
have been established in accordance with the terms of this Indenture and all
conditions precedent provided for in the Indenture relating to the Trustee's
authentication and delivery of the Securities and Coupons, if any, will have
been complied with; and

                           (d) as to such other matters as the Trustee may
reasonably request; and

                  (ii) an Officers' Certificate stating that, all conditions
precedent to the authentication and delivery of such Securities and Coupons, if
any, appertaining thereto, have been complied with and to the best knowledge of
the Persons executing such certificate, no event which is, or after notice or
lapse of time would become, an Event of Default with respect to any of the
Securities shall have occurred and be continuing.

                  The Trustee shall have the right to decline to authenticate
and deliver such Securities if the Trustee, being advised by counsel, determines
that such action may not lawfully be taken or if the Trustee in good faith by
its board of directors or trustees, executive committee, or a trust committee of
directors or trustees and/or Responsible Officers shall determine that such
action would expose the Trustee to personal liability to existing Holders or
would adversely affect the Trustee's own rights, duties or immunities under this
Indenture or otherwise.

                  The Trustee shall not be required to authenticate
Securities denominated in a coin or currency (or unit including a coin or
currency) other than that of the United States of America if the Trustee
reasonably determines that such Securities impose duties or obligations on
the Trustee which the Trustee is not able or reasonably willing to accept;
provided that the Trustee, upon a Company Request, will resign as Trustee
with respect to Securities of any series as to which such a determination is
made, prior to the issuance of such Securities, and will comply with the
request of the Company to execute and deliver a supplemental indenture
appointing a successor Trustee pursuant to Section 901.

                                      25

<PAGE>

                  If all the Securities of any series are not to be issued at
one time, it shall not be necessary to deliver an Opinion of Counsel and an
Officers' Certificate at the time of issuance of each Security, but such opinion
and certificate, with appropriate modifications, shall be delivered at or before
the time of issuance of the first Security of such series.

                  If the Company shall establish pursuant to Section 301 that
the Securities of a series are to be issued in whole or in part in global form,
then the Company shall execute and the Trustee shall, in accordance with this
Section and the Company Order with respect to such series, authenticate and
deliver one or more Securities in global form that (i) shall represent and shall
be denominated in an amount equal to the aggregate principal amount of the
Outstanding Securities of such series to be represented by such global Security
or Securities, (ii) shall be registered, if in registered form, in the name of
the Depositary for such Book-Entry Security or Securities or the nominee of such
Depositary, (iii) shall be delivered by the Trustee to such Depositary or
pursuant to such Depositary's instruction and (iv) where such Depositary is The
Depository Trust Company, shall bear a legend substantially to the following
effect: "Unless and until it is exchanged in whole or in part for Securities in
certificated form, this 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 suc cessor Depositary or a nominee of such successor
Depositary" or to such other effect as the Depositary and the Trustee may agree.

                  Each Depositary designated pursuant to Section 301 for a
Book-Entry Security in registered form must, at the time of its designation and
at all times while it serves as Depositary, be a clearing agency registered
under the Exchange Act and any other applicable statute or regulation. The
Trustee shall have no responsibility to determine if the Depositary is so
registered. Each Depositary shall enter into an agreement with the Trustee
governing their respective duties and rights with regard to Book-Entry
Securities.

                  Each Security shall be dated the date of its authentication,
except that each Bearer Security, including any Bearer Security in global form,
shall be dated as of the date specified or contem plated by Section 301.

                  No Security or Coupon appertaining thereto shall be entitled
to any benefit under this Indenture or be valid or obligatory for any purpose
unless there appears on such Security a certificate of authentication
substantially in the form provided for herein duly executed by the Trustee by
manual signature of one of its authorized signatories, and such certificate upon
any Security shall be conclusive evidence, and the only evidence, that such
Security has been duly authenticated and delivered hereunder and is entitled to
the benefits of this Indenture. Except as permitted by Section 306 or 307, the
Trustee shall not authenticate and deliver any Bearer Security unless all
appurtenant Coupons then matured have been detached and cancelled.

                                      26

<PAGE>

SECTION 304.      TEMPORARY SECURITIES.

                  Pending the preparation of definitive Securities of any
series, the Company may execute, and upon receipt of a Company Order the Trustee
shall authenticate and deliver, temporary Securities which are printed,
lithographed, typewritten, mimeographed or otherwise produced, in any authorized
denomination, substantially of the tenor and form, with or without Coupons of
the definitive Securities in lieu of which they are issued and with such
appropriate insertions, omissions, substitutions and other variations as the
officers executing such Securities may determine, as conclusively evidenced by
their execution of such Securities and Coupons, if any. Such temporary
Securities may be in global form.

                  Except in the case of temporary Securities in global form,
each of which shall be exchanged in accordance with the provisions thereof, if
temporary Securities of any series are issued, the Company will cause definitive
Securities of such series to be prepared without unreasonable delay. After the
preparation of definitive Securities of the same series and containing terms and
provisions that are identical to those of any temporary Securities, the
temporary Securities of such series shall be exchange able for definitive
Securities of such series upon surrender of the temporary Securities of such
series at the office or agency of the Company pursuant to Section 1002 in a
Place of Payment for such series, without charge to the Holder. Upon surrender
for cancellation of any one or more temporary Securities of any se ries
(accompanied by any unmatured Coupons appertaining thereto), the Company shall
execute and the Trustee shall authenticate and deliver in exchange therefor a
like principal amount of definitive Securities of the same series of authorized
denominations and of like tenor; PROVIDED, HOWEVER, that no definitive Bearer
Security shall be delivered in exchange for a temporary Registered Security; and
PROVIDED, FURTHER, that no definitive Bearer Security shall be delivered in
exchange for a temporary Bearer Security unless the Trustee shall have received
from the person entitled to receive the definitive Bearer Security a certificate
substantially in the form approved in the Board Resolutions relating thereto and
such delivery shall occur only outside the United States. Until so exchanged,
the temporary Securities of any series shall in all respects be entitled to the
same benefits under this Indenture as definitive Securities of such series
except as otherwise specified as contemplated by Section 301 with respect to the
payment of interest on Bearer Securities in temporary form.

SECTION 305.      REGISTRATION, REGISTRATION OF TRANSFER AND EXCHANGE.

                  The Company shall cause to be kept at the Corporate Trust
Office of the Trustee a register (the register maintained in such office and in
any other office or agency of the Company maintained pursuant to Section 1002 in
a Place of Payment being herein sometimes collectively referred to as the
"Security Register") in which, subject to such reasonable regulations as it may
prescribe, the Company shall provide for the registration of Registered
Securities and of transfers of Registered Securities. The Trustee is hereby
appointed "Security Registrar" for the purpose of registering Registered
Securities and transfers of Registered Securities as herein provided. In the
event that the Trustee shall not be the Security Registrar, it shall have the
right to examine the Security Register at all reasonable times. In the event
that the Trustee shall cease to be Security Registrar with respect to a series
of Securities, it shall have the right to examine the Security Register for such
series at all reasonable times.

                                      27

<PAGE>

                  Upon surrender for registration of transfer of any
Registered Security of any series at the office or agency maintained pursuant
to Section 1002 in a Place of Payment for that series, the Company shall
execute, and the Trustee shall authenticate and deliver, in the name of the
designated transferee or transferees, one or more new Registered Securities
of the same series, of any authorized denominations and of a like aggregate
principal amount bearing a number not contemporaneously outstanding and
containing identical terms and provisions.

                  At the option of the Holder, Registered Securities of any
series (except a Book-Entry Security representing all or a portion of the
Securities of such series) may be exchanged for other Registered Securities of
the same series, of any authorized denominations and of a like aggregate
principal amount, upon surrender of the Registered Securities to be exchanged at
such office or agency. Registered Securities may not be exchanged for Bearer
Securities. Whenever any Registered Securities are so surrendered for exchange,
the Company shall execute, and the Trustee shall authenticate and deliver, the
Registered Securities which the Holder making the exchange is entitled to
receive.

                  At the option of the Holder, Bearer Securities of any series
may be exchanged for Registered Securities (if the Securities of such series are
issuable in registered form) or Bearer Securities (if Bearer Securities of such
series are issuable in more than one denomination and such exchanges are
permitted by such series) of the same series, of any authorized denominations
and of like tenor and aggregate principal amount, upon surrender of the Bearer
Securities to be exchanged at any such office or agency, with all unmatured
coupons and all matured Coupons in default thereto appertaining. If the Holder
of a Bearer Security is unable to produce any such unmatured Coupon or Coupons
or matured Coupon or Coupons in default, such exchange may be effected if the
Bearer Securities are accompanied by payment in funds acceptable to the Company
and the Trustee in an amount equal to the face amount of such missing Coupon or
Coupons, or the surrender of such missing Coupon or Coupons may be waived by the
Company and the Trustee if there be furnished to them such security or indemnity
as they may require to save each of them and any Paying Agent harmless. If
thereafter the Holder of such Security shall surrender to any Paying Agent any
such missing Coupon in respect of which such a payment shall have been made,
such Holder shall be entitled to receive the amount of such payment; PROVIDED,
HOWEVER, that, except as otherwise provided in Section 1002, interest
represented by Coupons shall be payable only upon presentation and surrender of
those Coupons at an office or agency located outside the United States.
Notwithstanding the foregoing, in case a Bearer Security of any series is
surrendered at any such office or agency in exchange for a Registered Security
of the same series after the close of business at such office or agency on (i)
any Regular Record Date and before the opening of business at such office or
agency on the relevant Interest Payment Date, or (ii) any Special Record Date
and before the opening of business at such office or agency on the related date
for payment of Defaulted Interest, such Bearer Security shall be surrendered
without the Coupon relating to such Interest Payment Date or proposed date of
payment, as the case may be (or, if such Coupon is so surrendered with such
Bearer Security, such Coupon shall be returned to the person so surrendering the
Bearer Security), and interest or Defaulted Interest, as the case may be, shall
not be payable on such Interest Payment Date or proposed date for payment, as
the case may be, in respect of the Registered Security issued in exchange for
such Bearer Security, but shall be payable only to the Holder of such Coupon
when due in accordance with the provisions of this Indenture.

                                      28

<PAGE>

                  Notwithstanding any other provision of this Section, unless
and until it is exchanged in whole or in part for Securities in certificated
form, a Security in global form representing all or a portion of the Securities
of a series may not be transferred except as a whole by the Depositary for such
series to a nominee of such Depositary or by a nominee of such Depositary to
such Depositary or another nominee of such Depositary or by such Depositary or
any such nominee to a successor Depositary for such series or a nominee of such
successor Depositary.

                  If at any time the Depositary for the Securities of a series
notifies the Company that it is unwilling or unable to continue as Depositary
for the Securities of such series or if at any time the Depositary for the
Securities of such series shall no longer be eligible under Section 303, the
Company shall appoint a successor Depositary with respect to the Securities of
such series. If a successor Depositary for the Securities of such series is not
appointed by the Company within 90 days after the issuer receives such notice or
becomes aware of such ineligibility, the Company's election pursuant to Section
301(20) shall no longer be effective with respect to the Securities of such
series and the Company shall execute, and the Trustee, upon receipt of a Company
Order for the authentication and delivery of certificated Secu rities of such
series of like tenor, shall authenticate and deliver Securities of such series
in certificated form in an aggregate principal amount equal to the principal
amount of the Security or Securities in global form representing such series in
exchange for such Security or Securities in global form.

                  The Company may at any time and in its sole discretion
determine that the Securities of any series issued in the form of one or more
global Securities shall no longer be represented by such global Security or
Securities. In such event the Company shall execute, and the Trustee, upon
receipt of a Company Order for the authentication and delivery of certificated
Securities of such series of like tenor, shall authenticate and deliver,
Securities of such series in certificated form and in an aggregate principal
amount equal to the principal amount of the Security or Securities in global
form representing such series in exchange for such Security or Securities in
global form.

                  If specified by the Company pursuant to Section 301 with
respect to a series of Securities, the Depositary for such series of Securities
may surrender a global Security of such series in exchange in whole or in part
for Securities of such series in certificated form on such terms as are
acceptable to the Company and such Depositary. Thereupon, the Company shall
execute, and the Trustee shall authenticate and deliver, without service charge,

                               (i) to each Person specified by such Depositary a
                  new certificated Security or Securities of the same series of
                  like tenor, of any authorized denomination as requested by
                  such Person in aggregate principal amount equal to and in
                  exchange for such Person's beneficial interest in the global
                  Security; and

                               (ii) to such Depositary a new global security of
                  like tenor in a denomination equal to the difference, if any,
                  between the principal amount of the surren dered global
                  Security and the aggregate principal amount of certificated
                  Securities delivered to Holders thereof.

                                      29
<PAGE>

                  In any exchange provided for in any of the preceding three
paragraphs, the Company shall execute and the Trustee shall authenticate and
deliver Securities in certificated form in authorized denominations.

                  Upon the exchange of a global Security for Securities in
certificated form, such global Security shall be cancelled by the Trustee.
Unless expressly provided with respect to the Securities of any series that such
Security may be exchanged for Bearer Securities, Securities issued in exchange
for a Book-Entry Security pursuant to this Section shall be registered in such
names and in such authorized denominations as the Depositary for such Book-Entry
Security, pursuant to instructions from its direct or indirect participants or
otherwise, shall instruct the Trustee. The Trustee shall deliver such Securities
to the Persons in whose names such Securities are so registered.

                  Whenever any Securities are so surrendered for exchange, the
Company shall execute, and the Trustee shall authenticate and deliver, the
Securities which the Holder making the exchange is entitled to receive.

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

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

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

                  Except as otherwise provided in or pursuant to this Indenture,
the Company shall not be required (i) to issue, register the transfer of or
exchange Securities of any series for a period of 15 days before the selection
of any Securities of that series for redemption, or (ii) to register the
transfer of or exchange any Registered Security so selected for redemption in
whole or in part, except the unredeemed portion of any Security being redeemed
in part, or (iii) to exchange any Bearer Security so selected for redemption
except that such a Bearer Security may be exchanged for a Registered Security of
that series and like tenor, PROVIDED that such Registered Security shall be
simultaneously surrendered for redemption with written instruction for payment
consistent with the provisions of this Indenture or (iv) to issue, register the
transfer of or exchange any Security which, in accordance with its terms, has
been surrendered for repayment at the option of the Holder, except the portion,
if any, of such Security not to be so repaid.

                                      30

<PAGE>

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

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

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

                  Notwithstanding the foregoing provisions of this Section 306,
in case any such mutilated, destroyed, lost or stolen Security or Coupon has
become or is about to become due and payable, the Company in its discretion may,
instead of issuing a new Security or Coupon, pay such Security or Coupon;
provided, however, that payment of principal of and any premium or interest on
or any Additional Amounts with respect to any Bearer Securities shall, except as
otherwise provided in Section l002, be payable only at an office or agency
located outside the United States and, unless otherwise specified as
contemplated by Section 301, any interest on Bearer Securities and any
Additional Amounts with respect to such interest shall be payable only upon
presentation and surrender of the Coupons appertaining thereto.

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

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

                  The provisions of this Section, as amended or supplemented
pursuant to this Indenture with respect to particular Securities or generally,
are exclusive and shall preclude (to the extent lawful) all

                                      31

<PAGE>

other rights and remedies with respect to the replacement or payment of
mutilated, destroyed, lost or stolen Securities or Coupons.

SECTION 307.      PAYMENT OF INTEREST AND CERTAIN ADDITIONAL AMOUNTS; RIGHTS
                  TO INTEREST AND CERTAIN ADDITIONAL AMOUNTS PRESERVED.

                  Unless otherwise provided as contemplated by Section 301,
interest on and any Additional Amounts with respect to any Registered Security
which is payable, and is punctually paid or duly provided for, on any Interest
Payment Date shall be paid to the Person in whose name that Security (or one or
more Predecessor Securities) is registered at the close of business on the
Regular Record Date for such interest. Unless otherwise provided in or pursuant
to this Indenture, in case a Bearer Security is surrendered in exchange for a
Registered Security after the close of business (at an Office or Agency for such
Security) on any Regular Record Date therefor and before the opening of business
(at such Office or Agency) on the next succeeding Interest Payment Date
therefore, such Bearer Security shall be surrendered without the Coupon relating
to such Interest Payment Date and interest shall not be payable on such Interest
Payment Date in respect of the Registered Security issued in exchange for such
Bearer Security, but shall be payable only to the Holder of such Coupon when due
in accordance with the provisions of this Indenture.

                  Any interest on and any Additional Amounts with respect to
any Registered Security of any series which is payable, but is not punctually
paid or duly provided for, on any Interest Payment Date (herein called
"Defaulted Interest") shall forthwith cease to be payable to the Holder on
the relevant Regular Record Date by virtue of having been such Holder, and
such Defaulted Interest may be paid by the Company, at its election in each
case, as provided in Clause (1) or (2) below:

                  (1) The Company may elect to make payment of any Defaulted
Interest to the Persons in whose names the Registered Securities of such series
(or their respective Predecessor Securities) are registered at the close of
business on a Special Record Date for the payment of such Defaulted Interest,
which shall be fixed in the following manner. The Company shall notify the
Trustee in writing of the amount of Defaulted Interest proposed to be paid on
each Registered Security of such series and the date of the proposed payment,
and at the same time the Company shall deposit with the Trustee an amount of
Money equal to the aggregate amount proposed to be paid in respect of such
Defaulted Interest or shall make arrangements satisfactory to the Trustee for
such deposit prior to the date of the proposed payment, such Money when
deposited to be held in trust for the benefit of the Persons entitled to such
Defaulted Interest as is provided in this Clause (1). Thereupon the Trustee
shall fix a Special Record Date for the payment of such Defaulted Interest which
shall be not more than 15 days and not less than 10 days prior to the date of
the proposed payment and not less than 10 days after the receipt by the Trustee
of the notice of the proposed payment. The Trustee shall promptly notify the
Company of such Special Record Date and, in the name and at the expense of the
Company, shall cause notice of the proposed payment of such Defaulted Interest
and the Special Record Date therefor to be mailed, first-class postage prepaid,
to each Holder of Registered Securities of such Series at his address as it
appears in the Security Register, not less than 10 days prior to such Special
Record Date. The Trustee may, in its discretion, in the name and at the expense
of the Company, cause a similar notice to be published at least once in an
Authorized Newspaper of general circulation in the Borough of Manhattan, The
City of New York, but such

                                      32

<PAGE>

publication shall not be a condition precedent to the establishment of such
Special Record Date. Notice of the proposed payment of such Defaulted
Interest and the Special Record Date therefor having been so mailed, such
Defaulted Interest shall be paid to the Persons in whose names the Securities
of such series (or their respective Predecessor Securities) are registered at
the close of business on such Special Record Date and shall no longer be
payable pursuant to the following Clause (2). In case a Bearer Security is
surrendered at the Office or Agency for such Security in exchange for a
Registered Security after the close of business at such Office or Agency on
any Special Record Date and before the opening of business at such Office or
Agency on the related proposed date for payment of Defaulted Interest, such
Bearer Security shall be surrendered without the Coupon relating to such
proposed date of payment and Defaulted Interest shall not be payable on such
proposed date of payment in respect of the Registered Security issued in
exchange for such Bearer Security, but shall be payable only to the Holder of
such Coupon when due in accordance with the provisions of this Indenture.

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

                  At the option of the Company, interest on Registered
Securities of any series that bear interest may be paid (i) by mailing a check
to the address of the Person entitled thereto as such address shall appear in
the Security Register or (ii) by wire transfer to an account maintained by the
person entitled thereto as specified in the applicable Security Register.

                  Notwithstanding the above, except as otherwise specified with
respect to a series of Securities in accordance with the provisions of Section
301, a Holder of $10,000,000 or more in aggregate principal amount of Securities
of the same series having the same Interest Payment Date shall, upon written
request received by the Trustee prior to the Regular Record Date in respect of
an interest payment, or the date which is 15 days before the Stated Maturity or
date of redemption of the principal of (and premium, if any, on) the Securities,
as the case may be, be entitled to receive payments of principal of (and
premium, if any) and interest by wire transfer to an account maintained by such
Holder with a bank located in the United States; PROVIDED, HOWEVER, that no
payment of principal (and premium, if any) will be made without prior
presentment and surrender of the Securities.

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

SECTION 308.      PERSONS DEEMED OWNERS.

                  Prior to due presentment of a Registered Security for
registration of transfer, the Company, the Trustee and any agent of the Company
or the Trustee may treat the Person in whose name such Registered Security is
registered as the owner of such Registered Security for the purpose of

                                     33

<PAGE>

receiving payment of principal of (and premium, if any) and (subject to
Section 307) interest on, and any Additional Amounts with respect to, such
Registered Security and for all other purposes whatsoever, whether or not
such Registered Security be overdue, and neither the Company, the Trustee nor
any agent of the Company or the Trustee shall be affected by notice to the
contrary.

                  No Holder of any beneficial interest in any global Security
held on its behalf by the Depositary shall have any rights under this Indenture
with respect to such global Security, and such Depositary may be treated by the
Company, the Trustee, and any agent of the Company or the Trustee as the owner
of such global Security for all purposes whatsoever. None of the Company, the
Trustee, any Paying Agent or the Security Registrar will have any responsibility
or liability for any aspect of the records relating to or payments made on
account of beneficial ownership interest of a global Security or for
maintaining, supervising or reviewing any records relating to such beneficial
ownership interest.

                  The Company, the Trustee and any agent of the Company or the
Trustee may treat the bearer of any Bearer Security and the bearer of any Coupon
as the absolute owner of such Bearer Security or Coupon for the purpose of
receiving payment thereof or on account thereof and for all other purposes
whatsoever, whether or not such Bearer Security or Coupon be overdue, and
neither the Company, the Trustee nor any agent of the Company or the Trustee
shall be affected by notice to the contrary.

                  No Holder of any beneficial interest in any global Security
held on its behalf by the Depositary shall have any rights under this Indenture
with respect to such global Security, and such Depositary may be treated by the
Company, the Trustee, and any agent of the Company or the Trustee as the owner
of such global Security for all purposes whatsoever. None of the Company, the
Trustee, any Paying Agent or the Security Registrar will have any responsibility
or liability for any aspect of the records relating to or payments made on
account of beneficial ownership interest of a global Security or for
maintaining, supervising or reviewing any records relating to such beneficial
ownership interest.

SECTION 309.      CANCELLATION.

                  All Securities and Coupons surrendered for payment,
redemption, registration of transfer or exchange 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 cancelled by it. The Company
may at any time deliver to the Trustee for cancellation any Securities
previously authenticated and delivered hereunder which the Company may have
acquired in any manner whatsoever, and all Securities and Coupons so delivered
shall be promptly cancelled by the Trustee. No Securities or Coupons shall be
authenticated in lieu of or in exchange for any Securities or Coupons cancelled
as provided in this Section, except as expressly permitted by this Indenture.
All cancelled Securities and Coupons held by the Trustee shall be destroyed by
the Trustee, unless by a Company Order the Company directs their return to it,
and a certificate evidencing such destruction shall be delivered to the Company.

                                       34

<PAGE>

SECTION 310.      COMPUTATION OF INTEREST.

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

                                 ARTICLE FOUR

                     SATISFACTION, DISCHARGE AND DEFEASANCE

SECTION 401.      SATISFACTION AND DISCHARGE OF INDENTURE.

                  This Indenture shall upon Company Request cease to be of
further effect with respect to Securities of any series (except as to any
surviving rights of registration of transfer or exchange of Securities of such
series and replacement of lost, stolen or mutilated Securities of such series
herein expressly provided for) and any Coupons appertaining thereto, and the
Trustee, at the expense of the Company, shall execute proper instruments
acknowledging satisfaction and discharge of this Indenture with respect to such
series, when

         (1)      either

                               (A) all Securities of such series theretofore
                  authenticated and delivered and all Coupons appertaining
                  thereto (other than (i) Coupons appertaining to Bearer
                  Securities of such series surrendered in exchange for
                  Registered Securities and maturing after such exchange,
                  surrender of which is not required or has been waived as
                  provided in Section 305, (ii) Securities of such series and
                  Coupons which have been destroyed, lost or stolen and which
                  have been replaced or paid as provided in Section 306, (iii)
                  Coupons appertaining to Bearer Securities of such series
                  called for redemption and maturing after the relevant
                  Redemption Date, surrender of which has been waived as
                  provided in Section 1106 and (iv) Securities of such series
                  and Coupons for whose payment Money has theretofore been
                  deposited in trust or segregated and held in trust by the
                  Company and thereafter repaid to the Company or discharged
                  from such trust, as provided in Section 1003) have been
                  delivered to the Trustee for cancellation; or

                                (B) all such Securities and Coupons of such
                  series not theretofore delivered to the Trustee for
                  cancellation

                                    (i)      have become due and payable, or

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

                                      35

<PAGE>

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

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

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

                  In the event there are Securities of two or more series
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 Securities 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, the obligations of the Company to the Trustee under Section 605 and,
if Money shall have been deposited with the Trustee pursuant to subclause (B) of
clause (1) of this Section, the obligations of the Trustee under Section 402 and
the last paragraph of Section 1003, shall survive.

SECTION 402.      APPLICATION OF TRUST MONEY.

                  Subject to the provisions of the last paragraph of Section
1003, all Money and Government Obligations deposited with the Trustee pursuant
to Sections 401 and 403 shall be held in trust and applied by it, in accordance
with the provisions of the Securities and Coupons, if any, and this Indenture,
to the payment, either directly or through any Paying Agent (including the
Company acting as its own Paying Agent) as the Trustee may determine, to the
Persons entitled thereto, of the principal (and premium, if any), interest and
Additional Amounts for whose payment such Money and Government Obligations have
been deposited with or received by the Trustee; but such Money and Government
Obligations need not be segregated from other funds except to the extent
required by law.

                                      36

<PAGE>

SECTION 403.      SATISFACTION, DISCHARGE AND DEFEASANCE OF SECURITIES OF ANY
                  SERIES.

                  If this Section is specified, as contemplated by Section 301,
to be applicable to Securities and Coupons, if any, of any series, at the
Company's option, either

                     (a) the Company will be deemed to have been Discharged (as
defined below) from its obligations with respect to Securities and Coupons, if
any, of such series or

                     (b) the Company will cease to be under any obligation to
comply with any term, provision or condition set forth in (i) Article Eight and
Section 1006 or (ii) the terms, provisions or conditions of such series
specified pursuant to Section 301 (PROVIDED, HOWEVER, that the Company may not
cease to comply with any obligations as to which it may not be Discharged
pursuant to the definition of "Discharged"), if, in the case of (a) and (b),
with respect to the Securities and Coupons, if any, of such series on the 91st
day after the applicable conditions set forth below in (x) and either (y) or (z)
have been satisfied:

                            (x) (1) the Company has paid or caused to be paid
                  all other sums payable with respect to the Outstanding
                  Securities and Coupons, if any, of such series (in addition to
                  any required under (y) or (z)); and

                                (2)the Company has delivered to the Trustee an
                  Officers' Certificate and an Opinion of Counsel, each stating
                  that all conditions precedent herein provided for relating to
                  the satisfaction and discharge of the entire indebtedness on
                  all Outstanding Securities and Coupons, if any, of any such
                  series have been complied with;

                            (y) (1) the Company shall have deposited or caused
                  to be deposited irrevocably with the Trustee as a trust fund
                  specifically pledged as security for, and dedicated solely to,
                  the benefit of the Holders of the Securities and Coupons, if
                  any, of such series (i) an amount (in such currency or
                  currency unit in which the Outstanding Securities and Coupons,
                  if any, of such series are payable) or (ii) U.S. Government
                  Obligations (as defined below) or, in the case of Securities
                  and Coupons, if any, denominated in a Foreign Currency,
                  Foreign Government Securities (as defined below) denominated
                  in such Foreign Currency, which through the payment of
                  interest and principal in respect thereof in accordance with
                  their terms will provide, not later than the due date of any
                  payment of principal (including any premium), and interest, if
                  any, under the Securities and Coupons, if any, of such series,
                  Money in an amount or (iii) a combination of (i) and (ii)
                  sufficient (in the opinion with respect to (ii) and (iii) of a
                  nationally recognized firm of independent public accountants
                  expressed in a written certification thereof delivered to the
                  Trustee) to pay and discharge each installment of principal of
                  (including any premium), and interest, if any, on, and any
                  Additional Amounts with respect to the Outstanding Securities
                  and Coupons, if any, of such series on the dates such
                  installments of interest or principal are due;

                                      37

<PAGE>

                            (2) (i) no Event of Default or event (including such
                  deposit) which with notice or lapse of time or both would
                  become an Event of Default shall have occurred and be
                  continuing on the date of such deposit, (ii) no Event of
                  Default as defined in clause (6) or (7) of Section 501, or
                  event which with notice or lapse of time or both would become
                  an Event of Default under either such clause, shall have
                  occurred within 90 days after the date of such deposit and
                  (iii) such deposit and the related intended consequence under
                  (a) or (b) will not result in any default or event of default
                  under any material indenture, agreement or other instrument
                  binding upon the Company or any Subsidiary or any of their
                  properties; and

                                   (3) the Company shall have delivered to the
                            Trustee

                            (A) an Opinion of Counsel to the effect that Holders
                  of the Securities and Coupons, if any, of such series will not
                  recognize income, gain or loss for Federal income tax purposes
                  as a result of the Company's exercise of its option under this
                  Section 403 and will be subject to Federal income tax in the
                  same amount, in the same manner and at the same times as would
                  have been the case if such option had not been exercised; and

                            (B) if the Securities of such series are then listed
                  on any exchange, an Opinion of Counsel that the Securities of
                  such series shall not be delisted as a result of the exercise
                  of this option;

                            (z) the Company has properly fulfilled such other
                  means of satisfaction and discharge as is specified, as
                  contemplated by Section 301, to be applicable to the
                  Securities and Coupons, if any, of such series.

                  Any deposits with the Trustee referred to in clause (y)(1)
above shall be irrevocable and shall be made under the terms of an escrow trust
agreement in form and substance satisfactory to the Trustee. If any Outstanding
Securities and Coupons, if any, of such series are to be redeemed prior to their
Stated Maturity, whether pursuant to any mandatory redemption provisions or in
accordance with any mandatory sinking fund requirement, the applicable escrow
trust agreement will provide therefor and the Company will make such
arrangements as are satisfactory to the Trustee for the giving of notice of
redemption by the Trustee in the name, and at the expense, of the Company.

                  "Discharged" means that the Company will be deemed to have
paid and discharged the entire indebtedness represented by, and obligations
under, the Securities and Coupons, if any, of the series as to which this
Section is specified as applicable as aforesaid and to have satisfied all the
obligations under this Indenture relating to the Securities and Coupons, if any,
of such series (and the Trustee, at the expense of the Company, will execute
proper instruments acknowledging the same), except (A) the rights of Holders
thereof to receive, from the trust fund described in clause (y)(1) above,
payments of the principal of, premium and the interest, if any, on such
Securities and Coupons, if any, when such payments are due, (B) the Company's
obligations with respect to such Securities and Coupons, if any, under Sections
305 and 306 (insofar as applicable to Securities of such series), 402, 1002 and
1003 (last paragraph only) and the Company's obligations to the Trustee under
Sections 605 and 606 and (C) the

                                      38

<PAGE>

rights, powers, trusts, duties and immunities of the Trustee hereunder, will
survive such discharge. The Company will reimburse the trust fund for any
loss suffered by it as a result of any tax, fee or other charge imposed on or
assessed against deposited U.S. Government Obligations or Foreign Government
Securities, as the case may be, or any principal, premium or interest paid on
such Obligations, and, subject to the provisions of Section 605, will
indemnify the Trustee against any claims made against the Trustee in
connection with any such loss.

                  "Foreign Government Securities" as used in Section 403 means,
with respect to Securities and Coupons, if any, of any series that are
denominated in a Foreign Currency, securities that are (i) direct obligations of
the government that issued such currency for the payment of which obligations
its full faith and credit is pledged or (ii) obligations of a Person controlled
or supervised by and acting as an agency or instrumentality of such government
(the timely payment of which is unconditionally guaranteed as a full faith and
credit obligation of such government) which, in either case under clauses (i) or
(ii), are not callable or redeemable at the option of the issuer thereof and
will also include a depository receipt issued by a bank or trust company as
custodian with respect to any such Foreign Government Obligation or a specified
payment of interest on or principal of any such Foreign Government Obligation
held by such custodian for the account of the holder of a depository receipt;
provided that (except as required by law) such custodian is not authorized to
make any deduction from the amount payable to the holder of such depository
receipt from any amount received by the custodian in respect of the Foreign
Government Obligations or the specific payment of interest on or principal of
the Foreign Government Obligation evidenced by such depository receipt.

                  "U.S. Government Obligations" means securities that are (i)
direct obligations of the United States of America for the payment of which its
full faith and credit is pledged or (ii) obligations of a Person controlled or
supervised by and acting as an agency or instrumentality of the United States of
America the timely payment of which is unconditionally guaranteed as a full
faith and credit obligation of the United States of America, which, in either
case under clauses (i) or (ii), are not callable or redeemable at the option of
the issuer thereof and will also include a depository receipt issued by a bank
or trust company as custodian with respect to any such U.S. Government
Obligation or a specified payment of interest on or principal of any such U.S.
Government Obligation held by such custodian for the account of the holder of a
depository receipt; provided that (except as required by law) such custodian is
not authorized to make any deduction from the amount payable to the holder of
such depository receipt from any amount received by the custodian in respect of
the U.S. Government Obligations or the specific payment of interest on or
principal of the U.S. Government Obligation evidenced by such depository
receipt.

                                      39

<PAGE>

                                 ARTICLE FIVE

                                   REMEDIES

SECTION 501.      EVENTS OF DEFAULT.

                  "Event of Default," wherever used herein with respect to
Securities of any series, means any one of the following events (whatever the
reason for such Event of Default and whether it shall be voluntary or
involuntary or be effected by operation of law or pursuant to any judgment,
decree or order of any court or any order, rule or regulation of any
administrative or governmental body):

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

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

                  (3) default in the deposit of any sinking fund payment, when
and as due by the terms of a Security of that series, and continuance of such
default for a period of 30 days; or

                  (4) default in the performance, or breach, of any covenant or
warranty of the Company in this Indenture or the Securities of that series
(other than a covenant or warranty a default in whose performance or whose
breach is elsewhere in this Section specifically dealt with or which has
expressly been included in this Indenture solely for the benefit of series of
Securities other than that series), and continuance of such default or breach
for a period of 90 days after there has been given, by registered or certified
mail, to the Company by the Trustee or to the Company and the Trustee by the
Holders of at least 25% in principal amount of the Outstanding Securities of
that series a written notice specifying such default or breach and requiring it
to be remedied and stating that such notice is a "Notice of Default" hereunder;
or
                  (5) if any event of default as defined in any mortgage,
indenture or instrument under which there may be issued, or by which there may
be secured or evidenced, any indebtedness of the Company for money borrowed,
whether such indebtedness now exists or shall hereafter be created, shall happen
and shall result in such indebtedness in principal amount in excess of
$10,000,000 becoming or being declared due and payable prior to the date on
which it would otherwise become due and payable, and such acceleration shall not
be rescinded or annulled, or such indebtedness shall not have been discharged,
within a period of 30 days after there shall have been given, by registered or
certified mail, to the Company by the Trustee or to the Company and the Trustee
by the Holders of at least 25% in principal amount of the Outstanding Securities
of such series, a written notice specifying such event of default and requiring
the Company to cause such acceleration to be rescinded or annulled or to cause
such indebtedness to be discharged and stating that such notice is a "Notice of
Default" hereunder; or

                                     40

<PAGE>

                  (6) the entry by a court having jurisdiction in the premises
of (A) a decree or order for relief in respect of the Company in an involuntary
case or proceeding under any applicable Federal or State bankruptcy, insolvency,
reorganization or other similar law or (B) a decree or order adjudging the
Company a bankrupt or insolvent, or approving as properly filed a petition
seeking reorganization, arrangement, adjustment or composition of or in respect
of the Company under any applicable Federal or State law, or appointing a
custodian, receiver, liquidator, assignee, trustee, sequestrator or other
similar official of the Company or of any substantial part of its property, or
ordering the winding up or liquidation of its affairs, and the continuance of
any such decree or order for relief or any such other decree or order unstayed
and in effect for a period of 90 consecutive days, or

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

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

SECTION 502.      ACCELERATION OF MATURITY; RESCISSION AND ANNULMENT.

                  If an Event of Default with respect to Securities of any
series at the time Outstanding occurs and is continuing, then in every such case
the Trustee or the Holders of not less than 331/3% in principal amount of the
Outstanding Securities of that series may declare the principal amount (or, if
the Securities of that series are Original Issue Discount Securities, such
portion of the principal amount as may be specified in the terms of that series)
of all of the Securities of that series to be due and payable immediately, by a
notice in writing to the Company (and to the Trustee if given by Holders), and
upon any such declaration such principal amount (or specified amount) shall
become immediately due and payable.

                  At any time after such a declaration of acceleration with
respect to Securities of any series has been made and before a judgment or
decree for payment of the Money due has been obtained by the Trustee as
hereinafter in this Article provided, the Holders of a majority in principal
amount of the Outstanding Securities of that series, by written notice to the
Company and the Trustee, may rescind and annul such declaration and its
consequences if:

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

                                      41

<PAGE>

                  (A) all overdue installments of any interest on and Additional
         Amounts with respect to all Securities of that series and any Coupons
         appertaining thereto;

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

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

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

                  (2) all Events of Default with respect to Securities of that
series, other than the non-payment of the principal of (and premium, if any,)
and interest on, and any Additional Amounts with respect to Securities of that
series which have become due solely by such declaration of acceleration, have
been cured or waived as provided in Section 513.

         No such rescission shall affect any subsequent default or impair any
right consequent thereon.

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

                  The Company covenants that if:

                  (1) default is made in the payment of any installment of
interest on or any Additional Amounts with respect to any Security or Coupon, if
any, when such interest or Additional Amounts become due and payable and such
default continues for a period of 30 days; or

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

the Company will, upon demand of the Trustee, pay to the Trustee, for the
benefit of the Holders of such Securities or Coupons, if any, the whole amount
of Money then due and payable on such Securities and any Coupons for principal
(and 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 and Additional Amounts, at the rate
or rates prescribed therefor in such Securities or Coupons, if any, and, in
addition thereto, such further amount of Money 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.

                                      42

<PAGE>

                  If the Company fails to pay the Money and is required to pay
the Trustee pursuant to the preceding paragraph forthwith upon the demand of the
Trustee, the Trustee in its own name and as trustee of an express trust, may
institute a judicial proceeding for the collection of the Money so due and
unpaid and may prosecute such proceeding to judgment or final decree, and may
enforce the same against the Company or any other obligor upon such Securities
or Coupons, if any, and collect the Money adjudged or decreed to be paid in the
manner provided by law out of the property of the Company or any other obligor
upon such Securities or Coupons, if any, wherever situated.

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

SECTION 504.      TRUSTEE MAY FILE PROOFS OF CLAIM.

                  In case of the pendency of any receivership, insolvency,
liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or
other judicial proceeding relative to the Company or any other obligor upon the
Securities or the property of the Company or such other obligor or their
creditors, the Trustee (irrespective of whether the principal of the Securities
shall then be due and payable as therein expressed or by declaration or
otherwise and irrespective of whether the Trustee shall have made any demand on
the Company for the payment of any overdue principal, premium, interest or
Additional Amounts) shall be entitled and empowered, by intervention in such
proceeding or otherwise,

                  (i) to file and prove a claim for the whole amount, or such
lesser amount as may be provided for in the Securities of such series, of the
principal and any premium, interest and Additional Amounts owing and unpaid
in respect of the Securities and any Coupons appertaining thereto 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
or counsel) and of the Holders of Securities or any Coupons allowed in such
judicial proceeding; and

                  (ii) 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 of Securities or any Coupons 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 of Securities or any Coupons, to pay to the Trustee any
amount due to 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 605.

                                       43
<PAGE>

                  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 Security or any Coupon any plan of reorganization, arrangement, adjustment or
composition affecting the Securities or Coupons or the rights of any Holder
thereof, or to authorize the Trustee to vote in respect of the claim of any
Holder of a Security or any Coupon in any such proceeding.

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

                  All rights of action and claims under this Indenture or any of
the Securities or Coupons may be prosecuted and enforced by the Trustee without
the possession of any of the Securities or Coupons or the production thereof in
any proceeding relating thereto, and any such proceeding instituted by the
Trustee shall be brought in its own name as trustee of an express trust, and any
recovery or judgment shall, after provision for the payment of the reasonable
compensation, expense, disbursements and advances of the Trustee, its agents and
counsel, and for any other amounts due to the Trustee under Section 605, be for
the ratable benefit of the Holders of the Securities or any Coupons in respect
of which such judgment has been recovered.

SECTION 506.      APPLICATION OF MONEY COLLECTED.

                  Any Money collected by the Trustee pursuant to this Article
shall be applied in the following order, at the date or dates fixed by the
Trustee and, in case of the distribution of such Money on account of principal
(or premium, if any) or interest or Additional Amounts, upon presentation of the
Securities or Coupons, or both, as the case may be, and the notation thereon of
the payment if only partially paid and upon surrender thereof if fully paid:

                  First: To the payment of all amounts due the Trustee and any
         predecessor Trustee under Section 605; and

                  Second: To the payment of the amounts then due and unpaid for
         principal of (and pre mium, if any), interest and Additional Amounts on
         the Securities and any Coupons in respect of which or for the benefit
         of which such Money has been collected, ratably, without preference or
         priority of any kind, according to the amounts due and payable on such
         Securities and any Coupons for principal (and premium, if any) and
         interest and Additional Amounts, respectively; and

         Third: The balance, if any, to the Person or Persons entitled thereto.

SECTION 507.      LIMITATION ON SUITS.

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

                                      44

<PAGE>

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

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

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

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

                  (5) no direction inconsistent with such written request has
been given to the Trustee during such 60 day period by the Holders of a majority
in principal amount of the Outstanding Securities of that series; it being
understood and intended that no one or more of such Holders shall have any right
in any manner whatever by virtue of, or by availing of, any provision of this
Indenture or any Security to affect, disturb or prejudice the rights of any
other of such Holders or Holders of Securities of any other series, or to obtain
or to seek to obtain priority or preference over any other of such Holders or to
enforce any right under this Indenture, except in the manner herein provided and
for the equal and ratable benefit of all of such Holders.

SECTION 508.      UNCONDITIONAL RIGHT OF HOLDERS TO RECEIVE PRINCIPAL AND ANY
                  PREMIUM, INTEREST AND ADDITIONAL AMOUNTS.

                  Notwithstanding any other provision in this Indenture, the
Holder of any Security or Coupon shall have the right, which is absolute and
unconditional, to receive payment of the principal of, any premium and (subject
to Sections 305 and 307) interest on, and any Additional Amounts with respect to
such Security or payment of such Coupon, as the case may be, on the respective
Stated Maturity or Maturities therefor specified in such Security or Coupon (or,
in the case of redemption, on the Redemption Date or, in the case of repayment
at the option of such Holder if provided in or pursuant to this Indenture, on
the date such repayment is due) and to institute suit for the enforcement of any
such payment, and such right shall not be impaired without the consent of such
Holder.

SECTION 509.      RESTORATION OF RIGHTS AND REMEDIES.

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

                                      45

<PAGE>

SECTION 510.      RIGHTS AND REMEDIES CUMULATIVE.

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

SECTION 511.      DELAY OR OMISSION NOT WAIVER.

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

SECTION 512.      CONTROL BY HOLDERS.

                  The Holders of a majority in principal amount of the
Outstanding Securities of any series shall have the right to direct the time,
method and place of conducting any proceeding for any remedy available to the
Trustee, or exercising any trust or power conferred on the Trustee, with respect
to the Securities of such series and any Coupons appertaining thereto, PROVIDED
that

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

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

                  (3) such direction is not unduly prejudicial to the rights of
the other Holders of Securities of such series not joining in such action.

SECTION 513.      WAIVER OF PAST DEFAULTS.

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

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

                                      46

<PAGE>

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

                  Upon any such waiver, such default shall cease to exist, and
any Event of Default arising therefrom shall be deemed to have been cured, for
every purpose of this Indenture; but no such waiver shall extend to any
subsequent or other default or impair any right consequent thereon.

SECTION 514.      WAIVER OF STAY OR EXTENSION LAWS.

                  The Company covenants (to the extent that it may lawfully do
so) that it will not at any time insist upon, or plead, or in any manner
whatsoever claim or take the benefit or advantage of, any stay or extension law
wherever enacted, now or at any time hereafter in force, which may affect the
covenants or the performance of this Indenture; and the Company (to the extent
that it may lawfully do so) hereby expressly waives all benefit or advantage of
any such law and covenants that it will not hinder, delay or impede the
execution of any power herein granted to the Trustee, but will suffer and permit
the execution of every such power as though no such law had been enacted.

SECTION 515.      JUDGMENT CURRENCY.

                  The following provisions of this Section 515 shall apply to
the extent permissible under applicable law: Judgments in respect of any
obligations of the Company under any Securities or Coupons, if any, of any
series shall be rendered in the currency or currency unit in which such
Securities or Coupons are payable. If for the purpose of obtaining a judgment in
any court with respect to any obligation of the Company hereunder or under any
Security or Coupon, it shall become necessary to convert into any other currency
or currency unit any amount in the currency or currency unit due hereunder or
under such Security or Coupon, then such conversion shall be made at the
Conversion Rate (as defined below) as in effect on the date the Company shall
make payment to any person in satisfaction of such judgment. If pursuant to any
such judgment, conversion shall be made on a date other than the date payment is
made and there shall occur a change between such Conversion Rate and the
Conversion Rate as in effect on the date of payment, the Company agrees to pay
such additional amounts (if any) as may be necessary to ensure that the amount
paid is the amount in such other currency or currency unit which, when converted
at the Conversion Rate as in effect on the date of payment or distribution, is
the amount then due hereunder or under such Security or Coupon. Any amount due
from the Company under this Section 515 shall be due as a separate debt and is
not to be affected by or merged into any judgment being obtained for any other
sums due hereunder or in respect of any Security or Coupon so that in any event
the Company's obligations hereunder or under such Security or Coupon will be
effectively maintained as obligations in such currency or currency unit. In no
event, however, shall the Company be required to pay more in the currency or
currency unit due hereunder or under such Security or Coupon at the Conversion
Rate as in effect when payment is made than the amount of currency or currency
unit stated to be due hereunder or under such Security or Coupon.

                  For purposes of this Section 515, "Conversion Rate" shall mean
the spot rate as deter mined by the Company at which in accordance with normal
banking procedures the currency or

                                      47

<PAGE>

currency unit into which an amount due hereunder or under any Security or
Coupon is to be converted could be purchased with the currency or currency
unit due hereunder or under any Security or Coupon, at the option of the
Company from major banks located in New York, London or any other principal
market for such purchased currency or currency unit.

                                 ARTICLE SIX

                                  THE TRUSTEE

SECTION 601.      CERTAIN RIGHTS OF TRUSTEE.

                  Subject to the provisions of the Trust Indenture Act:

                  (a) the Trustee may 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, 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 request or direction of the Company mentioned herein
shall be sufficiently evidenced by a Company Request or Company Order (in each
case, other than delivery of any Security, together with any Coupons
appertaining thereto, to the Trustee for authentication and delivery pursuant to
Section 303 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 be herein specifically prescribed) may, in the absence of bad faith on
its part, rely upon an Officers' Certificate;

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

                  (e) the Trustee shall be under no obligation to exercise any
of the rights or powers vested in it by this Indenture at the request or
direction of any of the Holders pursuant to this Indenture, unless such Holders
shall have offered to the Trustee reasonable security or indemnity 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, note, other evidence of indebtedness or other paper or document, but
the Trustee, in its discretion, may make such further inquiry or investigation
into such facts or matters as it may see fit, and, if the Trustee shall
determine to make such further inquiry or investigation, it shall be entitled to
examine the books, records and premises of the Company, personally or by agent
or attorney;

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<PAGE>

                  (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 required to expend or risk its
own funds or otherwise incur any financial liability in the performance of any
of its duties hereunder, or in the exercise of any of its rights or powers, if
it shall have reasonable grounds for believing that repayment of such funds or
adequate indemnity against such risk or liability is not reasonably assured to
it;

                  (i) prior to the occurrence of an Event of Default of which it
has or is deemed to have notice hereunder, and after the curing or waiver of any
Event of Default which may have occurred, the Trustee undertakes to perform such
duties as are specifically set forth in this Indenture, and no implied covenants
or obligations shall be read into this Indenture against the Trustee; and

                  (j) the Trustee shall not be required to take notice of or be
deemed to have notice of any default or Event of Default hereunder unless a
Responsible Officer of the Trustee has actual knowledge thereof, and in the
absence of any such notice, the Trustee may conclusively assume that no such
default or Event of Default exists.

SECTION 602.      NOT RESPONSIBLE FOR RECITALS OR ISSUANCE OF SECURITIES.

                  The recitals contained herein and in the Securities, except
the Trustee's certificates of authentication, shall be taken as the statements
of the Company, and neither the Trustee nor any Authenti cating Agent assumes
any responsibility for their correctness. The Trustee makes no representations
as to the validity or the sufficiency of this Indenture or of the Securities or
the Coupons, except that the Trustee represents that it is duly authorized to
execute and deliver this Indenture, authenticate the Securities and perform its
obligations hereunder. Neither the Trustee nor any Authenticating Agent shall be
accountable for the use or application by the Company of Securities or the
proceeds thereof.

SECTION 603.      MAY HOLD SECURITIES.

                  The Trustee, any Authenticating Agent, any Paying Agent, any
Security Registrar or any other agent of the Trustee or the Company, in its
individual or any other capacity, may become the owner or pledgee of Securities
or Coupons and, subject to Sections 310(b) and 311 of the Trust Indenture Act,
may otherwise deal with the Company with the same rights it would have if it
were not Trustee, Authenti cating Agent, Paying Agent, Security Registrar or
such other agent.

                                     49

<PAGE>

SECTION 604.      MONEY HELD IN TRUST.

                  Money held by the Trustee in trust hereunder need not be
segregated from other funds except to the extent required by law. The Trustee
shall be under no liability for interest on any Money received by it hereunder
except as otherwise agreed with the Company.

SECTION 605.      COMPENSATION AND REIMBURSEMENT.

                  The Company agrees:

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

                  (2) except as otherwise expressly provided herein, to
reimburse the Trustee upon its request for all 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 disbursements of its agents and counsel), except any such expense,
disbursement or advance as may be attributable to the Trustee's negligence or
bad faith; and

                  (3) to indemnify the Trustee and its agents for, and to hold
it harmless against, any loss, liability or expense incurred without negligence
or bad faith on their part, arising out of or in connection with the acceptance
or administration of the trust or trusts hereunder, including the costs and
expenses of defending themselves against any claim or liability in connection
with the exercise or performance of any of their powers or duties hereunder.

                  As security for the performance of the obligations of the
Company under this Section, the Trustee shall have a lien prior to the
Securities of any series upon all property and funds held or collected by the
Trustee as such, except funds held in trust for the payment of principal of, and
premium or interest on or any Additional Amounts with respect to Securities or
any Coupons appertaining thereto.

                  The obligations of the Company under this Section 605 to
compensate and indemnify the Trustee and to pay or reimburse the Trustee and
each predecessor Trustee for expenses, disbursements and advances shall
constitute additional indebtedness hereunder and shall survive the satisfaction
and discharge of this Indenture.

SECTION 606.      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 pursuant
to Section 607.

                  (b) The Trustee may resign at any time with respect to the
Securities of one or more series by giving written notice thereof to the
Company. If the instrument of acceptance by a successor

                                     50

<PAGE>

Trustee required by Section 607 shall not have been delivered to the Trustee
within 30 days after the giving of such notice of resignation, the resigning
Trustee may petition any court of competent jurisdiction for the appointment
of a successor Trustee with respect to the Securities of such series.

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

                  (d)   If at any time:

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

                               (2) the Trustee shall cease to be eligible under
                  Section 310(a) of the Trust Indenture Act and shall fail to
                  resign after written request therefor by the Company or by any
                  such Holder, or

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

then, in any such case, (i) the Company by a Board Resolution may remove the
Trustee with respect to all Securities or the Securities of such series, or (ii)
any Holder of a Security who has been a bona fide Holder of a Security of such
series for at least six months may, on behalf of himself and all others
similarly situated, petition any court of competent jurisdiction for the removal
of the Trustee with respect to all Securities of such series and the appointment
of a successor Trustee or Trustees.

                  (e) 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 Securities of one or more series, the Company, by
a Board Resolution, shall promptly appoint a successor Trustee or Trustees with
respect to the Securities of that or those series (it being understood that any
such successor Trustee may be appointed with respect to the Securities of one or
more or all of such series and that at any time there shall be only one Trustee
with respect to the Securities of any particular series) and shall comply with
the applicable requirements of Section 607. If, within one year after such
resignation, removal or incapability, or the occurrence of such vacancy, a
successor Trustee with respect to the Securities of any series shall be
appointed by Act of the Holders of a majority in principal amount of the
Outstanding Securities of such series delivered to the Company and the retiring
Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance
of such appointment in accordance with the applicable requirements of Section
607, become the successor Trustee with respect to the Securities of such series
and to that extent supersede the successor Trustee appointed by the Company. If
no successor Trustee with respect to the Securities of any series shall have
been so appointed by the Company or the Holders and accepted

                                      51

<PAGE>

appointment in the manner required by Section 607, any Holder of a Security
who has been a bona fide Holder of a Security of such series for at least six
months may, on behalf of himself and all others similarly situated, petition
any court of competent jurisdiction for the appointment of a successor
Trustee with respect to the Securities of such series.

                  (f) The Company shall give notice of each resignation and each
removal of the Trustee with respect to the Securities of any series and each
appointment of a successor Trustee with respect to the Securities of any series
in the manner provided in Section 105. Each notice shall include the name of the
successor Trustee with respect to the Securities of such series and the address
of its Corporate Trust Office.

SECTION 607.      ACCEPTANCE OF APPOINTMENT BY SUCCESSOR.

                  (a) In case of the appointment hereunder of a successor
Trustee with respect to all Securities, 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 hereunder of the retiring
Trustee; but, on the request of the Company or the successor Trustee, all
property and Money held by 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, subject nevertheless to its claim, if
any, provided for in Section 605.

                  (b) In case of the appointment hereunder of a successor
Trustee with respect to the Securities of one or more (but not all) series, the
Company, the retiring Trustee and each successor Trustee with respect to the
Securities of one or more series shall execute and deliver an indenture
supplemental hereto wherein each successor Trustee shall accept such appointment
and which (1) shall contain such provisions as shall be necessary or desirable
to transfer and confirm to, and to vest in, each successor Trustee all the
rights, powers, trusts and duties of the retiring Trustee with respect to the
Securities of that or those series to which the appointment of such successor
Trustee relates, (2) if the retiring Trustee is not retiring with respect to all
Securities, shall contain such provisions as shall be deemed necessary or
desirable to confirm that all the rights, powers, trusts and duties of the
retiring Trustee with respect to the Securities of that or those series as to
which the retiring Trustee is not retiring shall con tinue to be vested in the
retiring Trustee, and (3) shall add to or change any of the provisions of this
Indenture as shall be necessary to provide for or facilitate the administration
of the trusts hereunder by more than one Trustee, it being understood that
nothing herein or in such supplemental indenture shall constitute such Trustees
co-trustees of the same trust and that each such Trustee 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 that no Trustee shall be responsible
for any notice given to, or received by, or any act or failure to act on the
part of any other Trustee hereunder; and upon the execution and delivery of such
supplemen tal 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,

                                      52

<PAGE>

shall become vested with all the rights, powers, trusts and duties of the
retiring Trustee with respect to the Securities 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 Securities 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 the Trust Indenture Act.

SECTION 608.      MERGER, CONVERSION, CONSOLIDATION OR SUCCESSION TO BUSINESS.

                  Any corporation into which the Trustee may be merged or
converted or with which it may be consolidated, or any corporation resulting
from any merger, conversion or consolidation to which the Trustee shall be a
party, or any corporation succeeding to all or substantially all of the
corporate trust business of the Trustee, shall be the successor of the Trustee
hereunder, provided such corporation shall be otherwise qualified and eligible
under this Article, without the execution or filing of any paper or any further
act on the part of any of the parties hereto. In case any Securities shall have
been authenticated, but not delivered, by the Trustee then in office, any
successor by merger, conversion or consolidation to such authenticating Trustee
may adopt such authentication and deliver the Securities so authenticated with
the same effect as if such successor Trustee had itself authenticated such
Securities.

SECTION 609.      CORPORATE TRUSTEE REQUIRED; ELIGIBILITY.

                  There shall at all times be a Trustee hereunder that is a
Corporation permitted by the Trust Indenture Act to act as trustee under an
indenture qualified under the Trust Indenture Act and that has a combined
capital and surplus (computed in accordance with Section 310(a)(2) of the Trust
Indenture Act) of at least $50,000,000. If at any time the Trustee shall cease
to be eligible in accordance with the provisions of this Section, it shall
resign immediately in the manner and with the effect hereinafter specified in
this Article.

SECTION 610.      APPOINTMENT OF AUTHENTICATING AGENT.

                  The Trustee may appoint one or more Authenticating Agents
acceptable to the Company with respect to one or more series of Securities which
shall be authorized to act on behalf of the Trustee to authenticate Securities
of that or those series issued upon original issue, exchange, registration of
transfer, partial redemption or pursuant to Section 306, and Securities so
authenticated shall be entitled to the benefits of this Indenture and shall be
valid and obligatory for all purposes as if authenticated by the Trustee
hereunder. Wherever reference is made in this Indenture to the authentication
and delivery of

                                      53

<PAGE>

Securities by the Trustee or the Trustee's certificate of authentication,
such reference shall be deemed to include authentication and delivery on
behalf of the Trustee by an Authenticating Agent and a certificate of
authentication executed on behalf of the Trustee by an Authenticating Agent.

                  Each Authenticating Agent shall be acceptable to the Company
and, except as provided in or pursuant to this Indenture, shall at all times be
a corporation that would be permitted by the Trust Indenture Act to act as
trustee under an indenture qualified under the Trust Indenture Act, 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 Trust Indenture Act) of at least $50,000,000. If at any
time an Authenticating Agent shall cease to be eligible in accordance with the
provi sions of this Section, it shall resign immediately in the manner and with
the effect specified in this Section.

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

                  An Authenticating Agent may resign at any time by giving
written notice thereof to the Trustee and the Company. The Trustee may at any
time terminate the agency of an Authenticating Agent by giving written notice
thereof to such Authenticating Agent and the Company. Upon receiving such a
notice of resignation or upon such a termination, or in case at any time such
Authenticating Agent shall cease to be eligible in accordance with the
provisions of this Section, the Trustee may appoint a successor Authenticating
Agent which shall be acceptable to the Company and shall (i) mail written notice
of such appointment by first-class mail, postage prepaid, to all Holders of
Registered Securities, if any, of the series with respect to which such
Authenticating Agent shall serve, as their names and addresses appear in the
Security Register, and (ii) if Securities of the series are issued as Bearer
Securities, publish notice of such appointment at least once in an Authorized
Newspaper in the place where such successor Authenti cating Agent has its
principal office if such office is located outside the United States. Any
successor Authenticating Agent, upon acceptance of its appointment hereunder,
shall become vested with all the rights, powers and duties of its predecessor
hereunder, with like effect as if originally named as an Authenticating Agent.
No successor Authenticating Agent shall be appointed unless eligible under the
provisions of this Section.

                  The Company agrees to pay each Authenticating Agent from time
to time reasonable compensation for its services under this Section. If the
Trustee makes such payments, it shall be entitled to be reimbursed for such
payments, subject to the provisions of Section 605.

                  The provisions of Sections 308, 602 and 603 shall be
applicable to each Authenticating Agent.

                                      54

<PAGE>

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

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

                                       BANK ONE, NA
                                       As Trustee

                                       By
                                         -------------------------------------
                                           As Authenticating Agent

                                       By
                                         -------------------------------------
                                           Authorized Signatory

                  If all of the Securities of any series may not be
originally issued at one time, and if the Trustee does not have an office
capable of authenticating Securities upon original issuance located in a
Place of Payment where the Company wishes to have Securities of such series
authenticated upon original issuance, the Trustee, if so requested in writing
(which writing need not be accompanied by or contained in an Officers'
Certificate by the Company), shall appoint in accordance with this Section an
Authenticating Agent having an office in a Place of Payment designated by the
Company with respect to such series of Securities.

SECTION 611.      NOTICE OF DEFAULTS.

                  The Trustee shall, within 90 days after the occurrence of a
default with respect to the Securities of any series, mail to all Holders of
Securities of that series entitled to receive reports pursuant to Section 703,
notice of all defaults with respect to that series known to the Trustee, unless
such defaults have been cured before the giving of such notice; PROVIDED,
HOWEVER, that, except in the case of default in the payment of the principal of,
premium, if any, or interest on any of the Securities of such series or in the
making of any sinking fund payment with respect to such series, the Trustee
shall be protected in withholding such notice if and so long as the Board of
Directors or Responsible Officers of the Trustee in good faith determines that
the withholding of such notice is in the interests of the Holders of Securities
of such series. For the purpose of this Section the term "default" means any
event which is, or after notice or lapse of time or both would become, an Event
of Default.

                                       55

<PAGE>

                                 ARTICLE SEVEN

               HOLDERS' LISTS AND REPORTS BY TRUSTEE AND COMPANY

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

                  In accordance with Section 312(a) of the Trust Indenture Act,
the Company shall furnish or cause to be furnished to the Trustee

                  (a) semi-annually with respect to Securities of each series on
May 15 and November 15 of each year or upon such other dates as are set forth in
or pursuant to the Board Resolution or indenture supplemental hereto authorizing
such series, a list, in each case in such form as the Trustee may reasonably
require, of the names and addresses of Holders as of not more than 15 days prior
to the applicable date, and

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

PROVIDED, HOWEVER, that so long as the Trustee is the Security Registrar no such
list shall be required to be furnished.

SECTION 702.      PRESERVATION OF INFORMATION; COMMUNICATIONS TO HOLDERS.

                  The Trustee shall comply with the obligations imposed upon it
pursuant to Section 312 of the Trust Indenture Act.

                  Every Holder of Securities or Coupons, by receiving and
holding the same, agrees with the Company and the Trustee that neither the
Company, the Trustee, any Paying Agent or any Security Registrar shall be
held accountable by reason of the disclosure of any such information as to
the names and addresses of the Holders of Securities in accordance with
Section 312 of the Trust Indenture Act, regardless of the source from which
such information was derived, and that the Trustee shall not be held
accountable by reason of mailing any material pursuant to a request made
under Section 312(b) of the Trust Indenture Act.

SECTION 703.      REPORTS BY TRUSTEE.

                  (a) Within 60 days after May 15 of each year commencing with
the first May 15 fol lowing the first issuance of Securities pursuant to Section
301, if required by Section 313(a) of the Trust Indenture Act, the Trustee shall
transmit, pursuant to Section 313(c) of the Trust Indenture Act, a brief report
dated as of such May 15 with respect to any of the events specified in such
Section 313(a) which may have occurred since the later of the immediately
preceding May 15 and the date of this Indenture.

                                      56

<PAGE>

                  (b) The Trustee shall transmit the reports required by Section
313(b) of the Trust Indenture Act at the times specified therein.

                  (c) Reports pursuant to this Section shall be transmitted in
the manner and to the Persons required by Sections 313(c) and 313(d) of the
Trust Indenture Act. The Company will notify the Trustee when any Securities are
listed on any stock exchange.

SECTION 704.      REPORTS BY COMPANY.

                  The Company, pursuant to Section 314(a) of the Trust Indenture
Act, shall:

                  (1) file with the Trustee, within 15 days after the Company is
required to file the same with the Commission, copies of the annual reports and
of the information, documents and other reports (or copies of such portions of
any of the foregoing as the Commission may from time to time by rules and
regulations prescribe) which the Company may be required to file with the
Commission pursuant to Section 13 or Section 15(d) of the Exchange Act; or, if
the Company is not required to file information, documents or reports pursuant
to either of such Sections, then the Company shall file with the Trustee and the
Commission, in accordance with rules and regulations prescribed from time to
time by the Commis sion, such of the supplementary and periodic information,
documents and reports which may be required pursuant to Section 13 of the
Exchange Act in respect of a security listed and registered on a national
securities exchange as may be prescribed from time to time in such rules and
regulations;

                  (2) file with the Trustee and the Commission, in accordance
with rules and regulations prescribed from time to time by the Commission, such
additional information, documents and reports with respect to compliance by the
Company with the conditions and covenants provided for in this Indenture, as may
be required by such rules and regulations;

                  (3) transmit to the Holders of the Securities, within 30 days
after the filing thereof with the Trustee, in the manner and to the extent
provided in Section 313(c) of the Trust Indenture Act, such summaries of any
information, documents and reports required to be filed by the Company pursuant
to paragraphs (1) or (2) of this Section as may be required by rules and
regulations prescribed from time to time by the Commission; and

                  (4) furnish to the Trustee, not less often than annually, a
brief certificate from the principal executive officer, principal financial
officer or principal accounting officer as to his or her knowledge of the
Company's compliance with all the conditions and covenants under this Indenture.

                                      57

<PAGE>

                               ARTICLE EIGHT

                        CONSOLIDATION, MERGER OR SALE

SECTION 801.      CONSOLIDATION, MERGER OR SALE.

                  Nothing contained in this Indenture or in any of the
Securities shall prevent any consolida tion or merger of the Company with or
into any other Person or Persons (whether or not affiliated with the Company),
or successive consolidations or mergers in which the Company or its successor or
successors shall be a party or parties, or shall prevent any conveyance,
transfer or lease of the property of the Company as an entirety or substantially
as an entirety, to any other Person (whether or not affiliated with the
Company); PROVIDED, HOWEVER, that:

                  (a) in case the Company shall consolidate with or merge into
another Person or convey, transfer or lease its properties and assets
substantially as an entirety to any Person, the entity formed by such
consolidation or into which the Company is merged or the Person which acquires
by conveyance or transfer, or which leases, the properties and assets of the
Company substantially as an entirety shall be a Corporation organized and
existing under the laws of the United States of America, any state thereof or
the District of Columbia and shall expressly assume, by an indenture (or
indentures, if at such time there is more than one Trustee) supplemental hereto,
executed and delivered by the successor Person to the Trustee, in form
satisfactory to the Trustee, the due and punctual payment of the principal of,
any premium, if any, and interest on and any Additional Amounts with respect to
all the Securities and the performance of every other covenant of this Indenture
on the part of the Company to be performed or observed;

                  (b) immediately after giving effect to such transaction, no
event which, after notice or lapse of time, would become an Event of Default,
shall have occurred and be continuing; and

                  (c) each of the Company and the successor Person shall have
delivered to the Trustee an Officers' Certificate and an Opinion of Counsel,
each stating that such consolidation, merger, conveyance, transfer or lease and
such supplemental indenture comply with this Article and that all conditions
precedent herein provided for relating to such transaction have been complied
with.

SECTION 802.      SUCCESSOR CORPORATION SUBSTITUTED.

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

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                                 ARTICLE NINE

                            SUPPLEMENTAL INDENTURES

SECTION 901.      SUPPLEMENTAL INDENTURES WITHOUT CONSENT OF HOLDERS.

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

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

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

                  (3) to add any additional Events of Default with respect to
all or any series of Securities;

                  (4) to add to or change any of the provisions of this
Indenture to such extent as shall be necessary to permit or facilitate the
issuance of Securities in bearer form, registrable or not registrable as to
principal, and with or without interest coupons or to provide for uncertificated
(commonly known as "book entry") Securities on terms satisfactory in substance
to the Trustee;

                  (5) to add to or change any of the provisions of this
Indenture to provide that Bearer Securities may be registrable as to principal,
to change or eliminate any restrictions on the payment of principal of, any
premium or interest on or any Additional Amounts with respect to Securities, to
permit Registered Securities to be exchanged for Bearer Securities, to permit
Bearer Securities to be exchanged for Bearer Securities of other authorized
denominations or to permit or facilitate the issuance of Securities in
uncertificated form, PROVIDED any such action shall not aversely affect the
interests of the Holders of Securities of any series or any Coupons appertaining
thereto in any material respect;

                  (6) 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 Security Outstanding of any series created prior to the
execution of such supplemental indenture which is entitled to the benefit of
such provision;

                  (7)  to secure the Securities;

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

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

                  (10) if allowed without penalty under applicable laws and
regulations, to permit payment in the United States of America (including any of
the states and the District of Columbia), its territories, its possessions and
other areas subject to its jurisdiction of principal, premium, if any, or
interest, if any, on Bearer Securities or Coupons, if any;

                  (11) to cure any ambiguity, to correct or supplement any
provision herein which may be defective or inconsistent with any other provision
herein, or to make any other provisions with respect to matters or questions
arising under this Indenture, PROVIDED such action shall not adversely affect
the interests of the Holders of Securities of any series or any Coupons
appertaining thereto in any material respect;

                  (12) 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 Securities, as herein set forth; or

                  (13) 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 Securities pursuant to Article Four; PROVIDED that
any such action shall not aversely affect the interests of any Holder of a
Security of such series and any Coupons appertaining thereto or any other
Security or Coupon in any material respect.

SECTION 902.      SUPPLEMENTAL INDENTURES WITH CONSENT OF HOLDERS.

                  With the consent of the Holders of not less than a majority in
principal amount of the Securities Outstanding of each series affected by such
supplemental indenture, by Act of such Holders delivered to the Company and the
Trustee, the Company, when authorized by a Board Resolution, and the Trustee may
enter into an indenture or indentures supplemental hereto for the purpose of
adding any provisions to or changing in any manner or eliminating any of the
provisions of this Indenture or of modifying in any manner the rights of the
Holders of Securities of such series under this Indenture; PROVIDED, HOWEVER,
that no supplemental indenture shall, without the consent of the Holder of each
Outstanding Security affected thereby,

                  (1) change the Stated Maturity of the principal of, or any
installment of principal of or interest on any Additional Amounts with respect
to, any Security, or reduce the principal amount thereof or the rate of interest
thereon or any Additional Amounts with respect thereto, or any premium payable
upon the redemption thereof or otherwise, or reduce the amount of the principal
of an Original Issue Discount Security that would be due and payable upon a
declaration of acceleration of the Maturity thereof pursuant to Section 502 or
the amount thereof provable in bankruptcy pursuant to Section 504, or adversely
affect the right of repayment at the option of any Holder as contemplated by
Article Thirteen,

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or change the Place of Payment, or change the coin or currency in which the
principal of, any premium or the interest on, or any Additional Amounts with
respect to, any Security is payable, or impair the right to institute suit
for the enforcement of any such payment on or after the Stated Maturity
thereof (or, in the case of redemption, on or after the Redemption Date or,
in the case of repayment at the option of the Holder, on or after the date
for repayment), or

                  (2) reduce the percentage in principal amount of the
Outstanding Securities of any series, the consent of whose Holders is
required for any such supplemental indenture, or the consent of whose Holders
is required for any waiver (of compliance with certain provisions of this
Indenture or certain defaults hereunder and their consequences) provided for
in this Indenture, or reduce the requirements of Section 1504 for quorum or
voting, or

                  (3) change any obligation of the Company to maintain an office
or agency in the places and for the purposes specified in Section 1002, or

                  (4) modify any of the provisions of this Section 902, Section
513, or Section 1008, except to increase any such percentage or to provide with
respect to any particular series the right to condition the effectiveness of any
supplemental indenture as to that series on the consent of the Holders of a
specified percentage of the aggregate principal amount of Outstanding Securities
of such series (which provision may be made pursuant to Section 301 without the
consent of any Holder) or to provide that certain other provisions of this
Indenture cannot be modified or waived without the consent of the Holder of each
Outstanding Security affected thereby; PROVIDED, HOWEVER, that this clause shall
not be deemed to require the consent of any Holder with respect to changes in
the references to "the Trustee" and concomitant changes in this Section, or the
deletion of this proviso, in accordance with the requirements of Sections 607(b)
and 901(9), or

                  (5) modify any of the provisions of Section 1007.

                  For the purposes of this Section 902, if the Securities of any
series are issuable upon the exercise of warrants, any holder of an unexercised
and unexpired warrant with respect to such series shall not be deemed to be a
Holder of Outstanding Securities of such series in the amount issuable upon the
exercise of such warrants.

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

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

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SECTION 903.      EXECUTION OF SUPPLEMENTAL INDENTURES.

                  As a condition to executing, or accepting the additional
trusts created by, any supplemental indenture permitted by this Article or the
modifications thereby of the trusts created by this Indenture, the Trustee shall
be entitled to receive, and shall be fully protected in relying upon, an Opinion
of Counsel and an Officers' Certificate each stating that the execution of such
supplemental indenture is authorized or permitted by this Indenture. The Trustee
may, but shall not be obligated to, enter into any such supplemental indenture
which affects the Trustee's own rights, duties or immunities under this
Indenture or otherwise.

SECTION 904.      EFFECT OF SUPPLEMENTAL INDENTURES.

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

SECTION 905.      CONFORMITY WITH TRUST INDENTURE ACT.

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

SECTION 906.      REFERENCE IN SECURITIES TO SUPPLEMENTAL INDENTURES.

                  Securities, including any Coupons, of any series authenticated
and delivered after the execution of any supplemental indenture pursuant to this
Article 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 Securities including any
Coupons of any series so modified as to conform, in the opinion of the Trustee
and the Company, to any such supplemental indenture may be prepared and
executed by the Company and authenticated and delivered by the Trustee in
exchange for Outstanding Securities including any Coupons of such series.

                                 ARTICLE TEN

                                 COVENANTS

SECTION 1001.           PAYMENT OF PRINCIPAL, PREMIUM AND INTEREST AND
                        ADDITIONAL AMOUNTS.

                  The Company covenants and agrees for the benefit of the
Holders of each series of Securities that it will duly and punctually pay the
principal of (and premium, if any) and interest on and any Additional Amounts
with respect to the Securities of that series in accordance with the terms of
the Securities and this Indenture.

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                  The interest on Securities with Coupons appertaining thereto
shall be payable only upon presentation and surrender of the several Coupons for
such interest installments as are evidenced thereby as they severally mature.
The interest, if any, on any temporary Bearer Security shall be paid, as to any
installment of interest evidenced by a Coupon attached thereto only upon
presentation and surrender of such Coupon and, as to other installments of
interest, only upon presentation of such Security for notation thereon of the
payment of such interest.

SECTION 1002.           MAINTENANCE OF OFFICE OR AGENCY.

                  If Securities of a series are issued as Registered Securities,
the Company will maintain in each Place of Payment for any series of Securities
an office or agency where Securities and Coupons, if any of that series may be
presented or surrendered for payment, where securities of that series may be
surrendered for registration of transfer or exchange and where notices and
demands to or upon the Company in respect of the Securities of that series and
this Indenture may be served. If Securities of a series are issuable as Bearer
Securities, the Company will maintain an office or agency, (A) subject to any
laws or regulations applicable thereto, in a Place of Payment for that series
which is located outside the United States, where Securities of that series and
related coupons may be presented and surrendered for payment; provided, however,
that if the Securities of that series are listed on The International Stock
Exchange of the United Kingdom and the Republic of Ireland Limited, the
Luxembourg Stock Exchange or any other stock exchange located outside the
United States and such stock exchange shall so require, the Company will
maintain a Paying Agent for the Securities of that series in London,
Luxembourg or any other required city located outside the United States, as
the case may be, so long as the Securities of that series are listed on such
exchange and (B) subject to any laws or regulations applicable thereto, in a
Place of Payment for that series located outside the United States, where
Securities of that series may be surrendered for exchange and where notices
and demands to or upon the Company in respect of the Securities of that
series and this Indenture may be served. The Company will give prompt written
notice to the Trustee of the location, and any change in the location, of any
such office or agency. If at any time the Company shall fail to maintain any
such required office or agency or shall fail to furnish the Trustee with the
address thereof, such presentations, surrenders, notices and demands may be
made or served at the Corporate Trust Office of the Trustee, except that
Bearer Securities of such series and any Coupons appertaining thereto may be
presented and surrendered for payment at the place specified for the purpose
with respect to such Securities as provided in or pursuant to this Indenture,
and the Company hereby appoints the Trustee as its agent to receive all such
presentations, surrenders, notices and demands.

                  Except as otherwise provided in or pursuant to this Indenture,
no payment of principal or interest on Bearer Securities shall be made at any
office or agency of the Company in the United States, by check mailed to any
address in the United States, by transfer to an account located in the United
States or upon presentation or surrender in the United States of a Bearer
Security or coupon for payment, even if the payment would be credited to an
account located outside the United States; PROVIDED, HOWEVER, that, if the
Securities of a series are denominated and payable in Dollars, payment of
principal of and any interest on or any Additional Amounts with respect to any
such Bearer Security shall be made at the office of the Company's Paying Agent
in Chicago, Illinois or in the event that certificated senior notes are issued
or if The Depositary Trust Company shall so require, the Company will be
required to appoint a paying agent and security registrar in the City of New
York if (but only if) payment in Dollars of the full

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<PAGE>

amount of such principal, interest or Additional Amounts, as the case may be,
at all offices or agencies outside the United States maintained for the
purpose by the Company in accordance with this Indenture is illegal or
effectively precluded by exchange controls or other similar restrictions.

                  The Company may also from time to time designate one or more
other offices or agencies where the Securities (including any Coupons, if any)
of one or more series may be presented or surrendered for any or all such
purposes and may from time to time rescind such designations; PROVIDED, HOWEVER,
that no such designation or rescission shall in any manner relieve the Company
of its obligation to maintain an office or agency in each Place of Payment for
Securities (including any Coupons, if any) of any series for such purposes. The
Company will give prompt written notice to the Trustee of any such designation
or rescission and of any change in the location of any such other office or
agency. Unless otherwise provided in or pursuant to this Indenture, the Company
hereby designates as the Place of Payment for each series as Chicago, Illinois
and initially appoints the office or agency of the Corporate Trust Office of the
Trustee for such purpose. In the event that certificated senior notes are issued
or if The Depositary Trust Company shall so require, the Company will appoint a
paying agent and security registrar in the City of New York. Pursuant to Section
301(6) of this Indenture, the Company may subsequently appoint a place or places
in addition to or other than Chicago, Illinois where such Securities may be
payable.

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

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

                  Whenever the Company shall have one or more Paying Agents for
any series of Securities, it shall, on or prior to (but in the case of payments
to be made at a Place of Payment outside of the United States, its territories,
possessions and areas subject to its jurisdiction, at least one New York
Business Day before) each due date of the principal of, any premium or interest
on or any Additional Amounts with respect to any Securities of such series,
deposit with any Paying Agent a sum of Money sufficient to pay the principal or
any premium, interest or Additional Amounts so becoming due, such sum to be held
in trust for the benefit of the Persons entitled thereto, and (unless such
Paying Agent is the Trustee) the Company shall promptly notify the Trustee of
its action or failure so to act.

                  The Company shall cause each Paying Agent for any series of
Securities other than the Trustee to execute and deliver to the Trustee an
instrument in which such Paying Agent shall agree with the Trustee, subject to
the provisions of this Section, that such Paying Agent shall:

                  (1) hold all sums held by it for the payment of the principal
of (and premium, if any) or interest on or any Additional Amounts with respect
to Securities of that series in trust for the benefit of

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the Persons entitled thereto until such sums shall be paid to such Persons or
otherwise disposed of as herein provided;

                  (2) give the Trustee notice of any default by the Company (or
any other obligor upon the Securities of that series) in the making of any
payment of principal (and premium, if any) or interest on or any Additional
Amounts with respect to the Securities of such series; and

                  (3) at any time during the continuance of any such default,
upon the written request of the Trustee, forthwith pay to the Trustee all sums
so held in trust by such Paying Agent.

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

                  Any Money deposited with the Trustee or any Paying Agent,
or then held by the Company, in trust for the payment of the principal of
(and premium, if any) or interest on or any Additional Amounts with respect
to any Security of any series and remaining unclaimed for 2 years after such
principal (and premium, if any) or interest or Additional Amounts shall have
become due and Payable shall be paid to the Company on Company Request, or
(if then held by the Company) shall be discharged from such trust; and the
Holder of such Security and Coupon, if any, shall thereafter, as an unsecured
general creditor, look only to the Company for payment thereof, and all
liability of the Trustee or such Paying Agent with respect to such Money, and
all liability of the Company as trustee thereof, shall thereupon cease;
PROVIDED, HOWEVER, that the Trustee or such Paying Agent, before being
required to make any such repayment, may at the expense of the Company cause
to be published once, in an Authorized Newspaper in each Place of Payment for
such series or to be mailed to Holders of Registered Securities of such
series notice that such money remains unclaimed and that, after a date
specified therein, which shall not be less than 30 days from the date of such
publication or mailing nor shall it be later than 2 years after such
principal and any premium or interest or Additional Amounts shall have become
due and payable, any unclaimed balance of such Money then remaining will be
repaid to the Company.

SECTION 1004.           ADDITIONAL AMOUNTS.

                  If any Securities of a series provide for the payment of
Additional Amounts, the Company agrees to pay to the Holder of any such Security
or any Coupon appertaining thereto Additional Amounts as provided therein.
Whenever in this Indenture there is mentioned, in any context, the payment of
the principal of or any premium or interest on, or in respect of, any Security
of any series or any Coupon or the net proceeds received on the sale or exchange
of any Security of any series, such mention shall be deemed to include mention
of the payment of Additional Amounts provided by the terms of such series
established hereby or pursuant hereto to the extent that, in such context,
Additional Amounts are,

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<PAGE>

were or would be payable in respect thereof pursuant to such terms and
express mention of the payment of Additional Amounts (if applicable) in any
provision hereof shall not be construed as excluding Additional Amounts in
those provisions hereof where such express mention is not made.

                  Except as otherwise provided in or pursuant to this Indenture,
if the Securities of a series provide for the payment of Additional Amounts, at
least 10 days prior to the first Interest Payment Date with respect to such
series of Securities (or if the Securities of such series shall not bear
interest prior to Maturity, the first day on which a payment of principal is
made), and at least 10 days prior to each date of payment of principal or
interest if there has been any change with respect to the matters set forth in
the below-mentioned Officers' Certificate, the Company shall furnish to the
Trustee and the principal Paying Agent or Paying Agents, if other than the
Trustee, an Officers' Certificate instructing the Trustee and such Paying Agent
or Paying Agents whether such payment of principal of or interest on the
Securities of such series shall be made to Holders of Securities of such series
or the Coupons appertaining thereto who are United States Aliens without
withholding for or on account of any tax, assessment or other governmental
charge described in the Securities of such series. If any such withholding shall
be required, then such Officers' Certificate shall specify by country the
amount, if any, required to be withheld on such payments to such Holders of
Securities or Coupons and the Company agrees to pay to the Trustee or such
Paying Agent the Additional Amounts required by the terms of such Securities.
The Company covenants to indemnify the Trustee and any Paying Agent for, and to
hold them harmless against, any loss, liability or expense reasonably incurred
without negligence or bad faith on their part arising out of or in connection
with actions taken or omitted by any of them in reliance on any Officers'
Certificate furnished pursuant to this Section.

SECTION 1005.           CORPORATE EXISTENCE.

                  Subject to Article Eight, the Company will do or cause to be
done all things necessary to preserve and keep in full force and effect its
corporate existence, rights (charter and statutory) and franchises; PROVIDED,
HOWEVER, that the Company shall not be required to preserve any such right or
franchise if the Board of Directors shall determine that the preservation
thereof is no longer desirable in the conduct of the business of the Company and
that the loss thereof is not disadvantageous in any material respect to the
Holders.

SECTION 1006.           LIMITATION ON LIENS.

                  Except as hereinafter in this Section 1006 expressly permitted
and as permitted by Section 801, so long as any of the Securities remain
Outstanding, the Company will not at any time directly or indirectly create,
assume or suffer to exist, and will not cause, suffer or permit any Subsidiary
to create, assume or suffer to exist, otherwise than in favor of the Company or
a Subsidiary, any mortgage, pledge, lien, encumbrance of or upon or security
interest (collectively, "Liens") upon any of its properties or assets, real,
personal or mixed, whether owned at the date of this Indenture or thereafter
acquired, or of or upon, any income or profits therefrom, without making
effective provision, and the Company covenants that in any such case it will
make or cause to be made effective provision, whereby the Securities then or
thereafter Outstanding shall be secured by such Liens equally and ratably with
any

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and all other obligations and indebtedness thereby secured, so long as any
such other obligations or indebtedness shall be so secured.

                  Nothing in this Section 1006 shall be construed to prevent the
Company or any Subsidiary from creating, assuming or suffering to exist Liens of
the following character, to all of which the provisions of the first paragraph
of this Section 1006 shall not be applicable:

                  (a)   Liens existing as of the date of this Indenture;

                  (b) Any purchase money mortgage or Lien created to secure all
or part of the purchase price of any property (or to secure a loan made to the
Company or any Subsidiary to enable it to acquire the property described in such
mortgage or in any applicable security agreement); PROVIDED that such Lien shall
extend only to the property so acquired, improvements thereon, replacements
thereof and the income or profits therefrom;

                  (c) Liens on any property at the time of the acquisition
thereof, whether or not assumed by the Company or a Subsidiary; PROVIDED that
such Lien shall extend only to the property so acquired, improvements thereon,
replacements thereof and the income or profits therefrom;

                  (d) Liens on any property or any contract for the sale of any
product or service, or any rights thereunder or any proceeds therefrom, acquired
or constructed by the Company or a Subsidiary, and created not later than twelve
months after (i) such acquisition or completion of such construction, or (ii)
commencement of operation of such property, whichever is later; PROVIDED that
such Lien shall extend only to the property so acquired or constructed,
improvements thereon, replacements thereof and the income or profits therefrom;

                  (e) Liens on the properties or assets, real, personal or
mixed, of a Subsidiary, or of or upon or in any income or profits therefrom,
which is outstanding at the time such Subsidiary becomes a Subsidiary;

                  (f) Liens created or assumed by the Company or a Subsidiary on
coal, geothermal, oil, natural gas, inert gas, other hydrocarbon or mineral
properties owned or leased by the Company or a Subsidiary to secure loans to the
Company or a Subsidiary for the purpose of developing such properties;

                  (g) Liens on any investment of the Company or a Subsidiary in
any Person other than a Subsidiary or any security representing any investment
of the Company or a Subsidiary; for the purposes of this Clause (g),
"investment" means any equity investment in any Person, any obligation of any
Person for money borrowed or for the deferred purchase price of property which
is owed to the Company or a Subsidiary, as the case may be, and any amount
advanced to any person by the Company or any Subsidiary, excluding, however,
current accounts payable other than for cash advances;

                  (h) Any Lien not otherwise permitted by this Section 1006 if,
after giving effect to the creation or assumption of the proposed mortgage,
pledge, lien, encumbrance or security interest the sum of (i) all indebtedness
of the Company and its Subsidiaries secured by Liens not otherwise permitted by

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this Section 1006, and (ii) to the extent not included in (i) above, all
Attributable Debt of the Company and its Subsidiaries does not exceed 10% of
Consolidated Capitalization;

                  (i) Any refunding or extension of maturity, in whole or in
part, of any obligation or indebtedness secured by any Lien created, existing or
assumed in accordance with the provisions of Clauses (a) through (h) above,
inclusive, PROVIDED that the principal amount of the obligation or indebtedness
secured by such refunding or extended Liens shall not exceed the principal
amount of the obligation or indebtedness to be refunded or extended outstanding
at the time of such refunding or extension, together with related financing
costs, and that such refunding or extended Liens shall be limited in lien to the
same property that secured the obligation or indebtedness refunded or extended,
and property substituted therefor and property acquired after the date thereof
and subject to the lien thereof, in accordance with the provisions of such
refunding or extension;

                  (j) Liens on any office equipment or data processing equipment
(including, without limitation, computer and computer peripheral equipment) or
any motor vehicles, tractors or trailers;

                  (k) Liens of or upon or in current assets of the Company or a
Subsidiary, determined in accordance with GAAP, created or assumed to secure
indebtedness incurred in the ordinary course of business;

                  (l) Mechanics' or materialmen's liens; any lien or charge
arising by reason of pledges or deposits to secure payment of or to permit
participation in workmen's compensation, unemployment insurance, old age
pensions or other Social Security or other insurance or to permit
self-insurance; good faith deposits in connection with tenders or leases of
real estate, bids or contracts or in connection with the financing of the
acquisition or construction of property to be used in the business of the
Company or a Subsidiary; deposits to secure public or statutory obligations;
deposits to secure or in lieu of surety, stay or appeal bonds; deposits as
security for the payment of taxes or assessments or other similar charges;
judgment liens against the Company or any Subsidiary thereof in an aggregate
amount not in excess $5,000,000, or any such judgment lien so long as the
finality of such judgment is being contested and execution thereon is stayed
and which has been appealed and secured, if necessary, by the filing of an
appeal bond; and liens for taxes or assessments for the current year or which
are not due or which remain payable without penalty or which are being
contested in good faith and against which an adequate reserve has been
established;

                  (m) Any lien arising by reason of deposits with or the giving
of any form of security to any governmental agency or any body created or
approved by law or governmental regulation for any purpose at any time in
connection with the financing of the acquisition or construction of property to
be used in the business of the Company or a Subsidiary, or as required by law or
governmental regulation as a condition to the transaction of any business or the
exercise of any privilege or license, or to permit the maintenance of
self-insurance or participation in any fund for liability on any insurance risks
or in connection with workmen's compensation, unemployment insurance, old age
pensions or other social security or to share in the privileges or benefits
required for companies participating in such arrangements;

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                  (n) Liens which are payable, both with respect to principal
and interest, solely out of the proceeds of natural gas, oil, coal, geothermal
resources, inert gas, hydrocarbons or minerals to be produced from the property
subject thereto and to be sold or delivered by the Company or a Subsidiary;

                  (o) Liens to secure indebtedness incurred to finance advances
made by the Company or any Subsidiary to any third party for the purpose of
financing oil, natural gas, hydrocarbon, inert gas or other mineral exploration
or development, PROVIDED that such liens shall extend only to the receivables of
the Company or such Subsidiary in respect of such advances;

                  (p) Any rights reserved in others to take or reserve any part
of the natural gas, oil, coal, geothermal resources, inert gas, other
hydrocarbons or mineral produced at any time on any property of the Company or a
Subsidiary;

                  (q) Any rights reserved to or vested in, or any obligations or
duties to, any person, firm, corporation or governmental authority by the terms
of any franchise, grant, lease, license, easement or permit or by any provision
of law with respect to any property of the Company or a Subsidiary.

                  (r) Leases (whether pursuant to Sale and Leaseback
Transactions or otherwise) now or hereafter existing and any renewals or
extensions thereof;

                  (s) Liens upon the underlying interests in property covered by
any lease, contract, easement or right-of-way existing at the time of the
acquisition thereof; easements or similar encumbrances, the existence of which
does not materially impair the use of the property subject thereto for the
purposes for which it was acquired; liens upon rights-of-way for pipeline or
distribution plant purposes and undetermined liens and charges incidental to
construction or maintenance; or defects and irregularities in the titles to any
property (including right-of-way) which are not material to the business of the
Company and its Subsidiaries considered as a whole;

                  (t) The lien reserved in leases for rent and for compliance
with the terms of the lease in the case of leasehold estates;

                  (u)   Zoning laws and ordinances; and

                  (v) Liens which secure indebtedness of a Subsidiary to the
Company or another Subsidiary.

                  If at any time the Company or any Subsidiary shall create or
assume any Lien to which the covenant in the first paragraph of this Section
1006 is applicable, the Company will promptly deliver to the Trustee an
Officers' Certificate, stating that such covenant has been complied with, and an
Opinion of Counsel, stating that in his opinion such covenant has been complied
with and that any instruments executed by the Company or any Subsidiary in the
performance of such covenant complied with the requirements thereof.

                                      69
<PAGE>

                  In the event that the Company or any Subsidiary shall
hereafter secure the Securities equally and ratably with any other obligation or
indebtedness pursuant to the provisions of this Section 1006, the Trustee is
hereby authorized to enter into an indenture supplemental hereto and to take
such action, if any, as it may deem advisable to enable it to enforce
effectively the rights of the Holders of the Securities so secured, equally and
ratably with such other obligation or indebtedness.

                  The Trustee may accept an Officers' Certificate and Opinion of
Counsel as conclusive evidence that any such supplemental indenture or steps
taken to secure the Securities equally and ratably comply with the provisions of
this Section 1006.

SECTION 1007.           CHANGE OF CONTROL.

                  If this Section is specified, as contemplated by Section 301,
to be applicable to Securities and Coupons, if any, of any series, at the
Company's option, and if a Change of Control occurs and is accompanied by a
Rating Decline (together, a "Change of Control Triggering Event"), each Holder
of Securities will have the right to require the Company to offer to repurchase
all or any part (equal to $1,000 or an integral multiple thereof) of such
Holder's Securities at a purchase price in cash equal to the principal amount of
the Securities plus accrued and unpaid interest, if any, to the date of
purchase.

                  Within 30 days following any Change of Control Triggering
Event, the Company will mail a notice (the "Change of Control Offer") to each
Holder with a copy to the Trustee stating:

                  (a) that a Change of Control Triggering Event has occurred and
that such Holder has the right to require the Company to purchase such Holder's
Securities at a purchase price in cash equal to the principal amount of such
Securities plus accrued and unpaid interest, if any, to the date of purchase
(the "Change of Control Payment");

                  (b) the repurchase date (which shall be no earlier than 30
days nor later than 60 days from the date such notice is mailed) (the "Change of
Control Payment Date"); and

                  (c) the procedures determined by the Company, consistent with
the Indenture, that a Holder must follow in order to have its Securities
repurchased.

                  On the Change of Control Payment Date, the Company will, to
the extent lawful:

                  (a) accept for payment all Securities or portions thereof (in
integral multiples of $1,000) properly tendered and not withdrawn under the
Change of Control Offer;

                  (b) deposit with the paying agent an amount equal to the
Change of Control Payment in respect of all Securities or portions thereof so
tendered; and

                  (c) deliver or cause to be delivered to the Trustee the
Securities so accepted together with an Officers' Certificate stating the
aggregate principal amount of Securities or portions thereof being purchased by
the Company.

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                  The Paying Agent will promptly mail to each Holder of
Securities so tendered the Change of Control Payment for such Securities, and
the Trustee will promptly authenticate and mail (or cause to be transferred by
book entry) to each Holder a new Security equal in principal amount to any
unpurchased portion of the Securities surrendered, if any; provided that each
such new Security will be in a principal amount of $1,000 or an integral
multiple of $1,000.

                  If the Change of Control Payment Date is on or after an
interest record date and on or before the related interest payment date, any
accrued and unpaid interest, if any, will be paid to the Person in whose name a
Security is registered at the close of business on such record date, and no
additional interest will be payable to Holders who tender pursuant to the Change
of Control Offer.

                  Prior to mailing a Change of Control Offer, and as a condition
to such mailing (i) the requisite Holders of each issue of Indebtedness issued
under any indenture or other agreement that may be violated by such payment
shall have consented to such Change of Control Offer being made and waived the
event of default, if any, caused by the Change of Control Triggering Event or
(ii) the Company will repay all outstanding Indebtedness issued under any
indenture or other agreement that may be violated by a payment to the Holders of
Securities under a Change of Control Offer or the Company must offer to repay
all such Indebtedness, and make payment to the Holders of such Indebtedness that
accept such offer and obtain waivers of any event of default from the remaining
Holders of such Indebtedness. The Company covenants to effect such repayment or
obtain such consent and waiver within 30 days following any Change of Control
Triggering Event, it being an Event of Default if the Company fails to comply
with such covenant within 30 days after receipt of written notice from the
Trustee or the Holders of at least 25% in principal amount of the Securities.

                  The Company will not be required to make a Change of Control
Offer upon a Change of Control Triggering Event if a third party makes the
Change of Control Offer in the manner, at the times and otherwise in compliance
with the requirements set forth herein applicable to a Change of Control Offer
made by the Company and purchases all Securities validly tendered and not
withdrawn under such Change of Control Offer.

SECTION 1008.           WAIVER OF COVENANT.

                  The Company may omit in any particular instance to comply
with any term, provision or condition set forth in Article Eight and Sections
1005 and 1006, if before the time for such compliance the Holders of (i) a
majority in principal amount of the Outstanding Securities or (ii) in case
less than all of the several series of Securities then Outstanding are
affected by the omission, at least a majority in principal amount of the
Outstanding Securities of each series so affected voting as a single class
shall, by Act of such Holders, either waive such compliance in such instance
or generally waive compliance with such term, provision or condition, but no
such waiver shall extend to or affect such term, provision or condition
except to the extent so expressly waived, and, until such waiver shall become
effective, the obligations of the Company and the duties of the Trustee in
respect of any such term, provision or condition shall remain in full force
and effect.

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SECTION 1009.           STATEMENTS AS TO COMPLIANCE; NOTICE OF CERTAIN DEFAULTS.

                          (a) The Company shall deliver to the Trustee,
within 120 days after the end of each fiscal year, a written statement (which
need not be contained in or accompanied by an Officers' Certificate) signed
by the principal executive officer, the principal financial officer or the
principal accounting officer of the Company stating that

                  (1) a review of the activities of the Company during such year
and of performance under this Indenture has been made under his or her
supervision, and

                  (2) to the best of his or her knowledge, based on such review,
(a) the Company has complied with all the conditions and covenants imposed on it
under this Indenture throughout such year, or, if there has been a default in
the fulfillment of any such condition or covenant, specifying each such default
known to him or her and the nature and status thereof, and (b) no event has
occurred and is continuing which is, or after notice or lapse of time or both
would become, an Event of Default, or, if such an event has occurred and is
continuing, specifying each such event known to him and the nature and status
thereof.

                          (b) The Company shall deliver to the Trustee,
within five days after the occurrence thereof, written notice of any event
which after notice or lapse of time or both would become an Event of Default.

                                 ARTICLE ELEVEN

                            REDEMPTION OF SECURITIES

SECTION 1101.           APPLICABILITY OF ARTICLE.

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

SECTION 1102.           ELECTION TO REDEEM; NOTICE TO TRUSTEE.

                  The election of the Company to redeem any Securities
(including Coupons, if any) shall be evidenced by a Board Resolution. In case of
any redemption at the election of the Company of all or less than all of the
Securities (including Coupons, if any) of any series, the Company shall, at
least 60 days prior to the Redemption Date fixed by the Company (unless a
shorter notice shall be satisfactory to the Trustee), notify the Trustee of such
Redemption Date and of the principal amount of Securities of such series to be
redeemed. In the case of any redemption of Securities (including Coupons, if
any) prior to the expiration of any restriction on such redemption provided in
the terms of such Securities and Coupons, if any, or elsewhere in this
Indenture, the Company shall furnish the Trustee with an Officers' Certificate
evidencing compliance with such restriction.

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

                  If less than all the Securities (including Coupons, if any) of
any series with the same terms are to be redeemed, the particular Securities
(including Coupons, if any) to be redeemed shall be selected not more than 60
days prior to the Redemption Date by the Trustee, from the Outstanding
Securities (including Coupons, if any) of such series not previously called for
redemption, by such method as the Trustee shall deem fair and appropriate and
which may provide for the selection for redemption of portions (equal to the
minimum authorized denomination for Securities (including Coupons, if any) of
that series or any integral multiple thereof) of the principal amount of
Securities (including Coupons, if any) of such series of a denomination larger
than the minimum authorized denomination for Securities of that series.

                  The Trustee shall promptly notify the Company in writing of
the Securities (including Coupons, if any) selected for redemption and, in the
case of any Securities selected for partial redemption, the principal amount
thereof to be redeemed.

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

SECTION 1104.           NOTICE OF REDEMPTION.

                  Notice of redemption shall be given not less than 30 nor more
than 60 days prior to the Redemption Date, unless a shorter period is specified
in the Securities to be redeemed, to each Holder of Securities to be redeemed,
as provided in Section 105.

                  Each such notice of redemption shall specify the Redemption
Date, the Redemption Price, the Place or Places of Payment, the CUSIP number of
such Securities, if any, that the Securities of such series are being redeemed
at the option of the Company pursuant to provisions contained in the terms of
the Securities of such series or in a supplemental indenture establishing such
series, if such be the case, together with a brief statement of the facts
permitting such redemption, that payment will be made upon presentation and
surrender of the applicable Securities, that all Coupons, if any, maturing
subsequent to the date fixed for redemption shall be void, that any interest
accrued to the Redemption Date will be paid as specified in such notice, and
that on and after such Redemption Date any interest thereon or, in case of
partial redemptions, on the portions thereof to be redeemed, will cease to
accrue. If less than all the Securities of any series are to be redeemed, the
notice of redemption shall specify the numbers of the Securities of such series
to be redeemed, and, if only Bearer Securities of any series are to be redeemed
and if such Bearer Securities may be exchanged for Registered Securities, the
last date on which exchanges of Bearer Securities for Registered Securities not
subject to redemption may be made. In case any Security of any series is to be
redeemed in part only, the notice of redemption shall state the portion of the
principal amount thereof to be redeemed and shall state that on and after the
Redemption Date, upon surrender of such Security and any Coupons appertaining
thereto, a new Security or Securities of such series in principal amount equal
to the unredeemed portion thereof and with

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appropriate Coupons will be issued, or, in the case of Registered Securities
providing appropriate space for such notation, at the option of the Holders,
the Trustee, in lieu of delivering a new Security or Securities as aforesaid,
may make a notation on such Security of the payment of the redeemed portion
thereof.

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

SECTION 1105.           DEPOSIT OF REDEMPTION PRICE.

                  On or before (but in the case of payments to be made at a
Place of Payment outside of the United States, its territories, possessions and
areas subject to its jurisdiction, at least one New York Business Day before)
10:00 A.M., New York City time, on any Redemption Date, the Company shall
deposit in immediately available funds with the Trustee or with a Paying Agent
(or, if the Company is acting as its own Paying Agent, segregate and hold in
trust as provided in Section 1003) an amount of Money in the relevant currency
(or a sufficient number of currency units, as the case may be) sufficient to pay
the Redemption Price of, and (except if the Redemption Date shall be an Interest
Payment Date) any accrued interest on and Additional Amounts with respect to all
the Securities or portions thereof which are to be redeemed on that date.

SECTION 1106.           SECURITIES PAYABLE ON REDEMPTION DATE.

                  Notice of redemption having been given as aforesaid, the
Securities so to be redeemed shall, on the Redemption Date, become due and
payable at the Redemption Price therein specified, and from and after such date
(unless the Company shall default in the payment of the Redemption Price and
accrued interest) such Securities shall cease to bear interest and the Coupons
for such interest appertaining to any Bearer Securities so to be redeemed,
except to the extent provided below, shall be void. Except as provided in the
next succeeding paragraph, upon surrender of any such Security (including
Coupons, if any) for redemption in accordance with such notice, such Security
shall be paid by the Company at the Redemption Price, together with accrued
interest and Additional Amounts to the Redemption Date; PROVIDED, HOWEVER, that
installments of interest on Bearer Securities whose Stated Maturity is on or
prior to the Redemption Date shall be payable only upon presentation and
surrender of Coupons for such interest (at an Office or Agency located outside
the United States except as otherwise provided in Section 1002), and PROVIDED,
FURTHER, that installments of interest on Registered Securities whose Stated
Maturity is on or prior to the Redemption Date shall be payable to the Holders
of such Securities, or one or more Predeces sor Securities, registered as such
at the close of business on the relevant Record Dates according to their terms
and the provisions of Section 307.

                  If any Bearer Security surrendered for redemption shall not be
accompanied by all appurtenant Coupons maturing after the Redemption Date, such
Bearer Security may be paid after deducting from the Redemption Price an amount
equal to the face amount of all such missing Coupons, or the surrender of such
missing Coupon or Coupons may be waived by the Company and the Trustee if there
be furnished to them such security or indemnity as they may require to save each
of them and any

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<PAGE>

Paying Agent harmless. If thereafter the Holder of such Bearer Security shall
surrender to the Trustee or any Paying Agent any such missing Coupon in
respect of which a deduction shall have been made from the Redemption Price,
such Holder shall be entitled to receive the amount so deducted; PROVIDED,
HOWEVER, that any interest or Additional Amounts represented by Coupons shall
be payable only upon presentation and surrender of those Coupons at an office
or agency located outside of the United States except as otherwise provided
pursuant to Sections 901(10) and 1002.

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

SECTION 1107.           SECURITIES REDEEMED IN PART.

                  Any Registered Security (including Coupons, if any) which is
to be redeemed only in part shall be surrendered at a Place of Payment therefor
(with, if the Company or the Trustee so requires, due endorsement by, or a
written instrument of transfer in form satisfactory to, the Company and the
Trustee duly executed by the Holder thereof or his attorney duly authorized in
writing), and the Company shall execute, and the Trustee shall authenticate and
deliver to the Holder of such Security without service charge, a new Registered
Security or Securities (with appropriate Coupons, if any, attached) of the same
series, containing identical terms and provisions, of any authorized
denomination as requested by such Holder, in aggregate principal amount equal to
and in exchange for the unredeemed portion of the principal of the Security
(including Coupons, if any) so surrendered. If a Security in global from is so
sur rendered, the Company shall execute and the Trustee shall authenticate and
deliver to the U.S. Depository or other depository for such Security in global
form as shall be specified in the Company Order with respect thereto, to the
Trustee, without service charge, a new Security in global form in a denomination
equal to and in exchange for the unredeemed portion of the principal of the
Security in global form so surrendered.

                                 ARTICLE TWELVE

                                  SINKING FUNDS

SECTION 1201.           APPLICABILITY OF ARTICLE.

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

                  The minimum amount of any sinking fund payment provided for by
the terms of Securities 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 Securities of any series is herein referred to as an
"optional sinking fund payment." If provided for by the terms of Securities of
any series, the cash amount of any sinking fund payment may be subject to
reduction as provided in Section 1202. Each sinking fund

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payment shall be applied to the redemption of Securities of any series as
provided for by the terms of Securities of such series.

SECTION 1202.           SATISFACTION OF SINKING FUND PAYMENTS WITH SECURITIES.

                  The Company (1) may deliver outstanding Securities of a series
(other than any previously called for redemption or any of such Securities in
respect of which cash shall have been released to the Company), together in the
case of any Bearer Securities of such series with all unmatured Coupons
appertaining thereto, and (2) may apply as a credit Securities of a series which
have been redeemed either at the election of the Company pursuant to the terms
of such Securities or through the application of permitted optional sinking fund
payments pursuant to the terms of such Securities, in each case in satis faction
of all or any part of any sinking fund payment with respect to the Securities of
such series required to be made pursuant to the terms of such Securities as
provided for by the terms of such series; PROVIDED that such Securities have not
been previously so credited. Such Securities shall be received and credited for
such purpose by the Trustee at the Redemption Price specified in such Securities
for redemption through operation of the sinking fund and the amount of such
sinking fund payment shall be reduced accordingly.

SECTION 1203.           REDEMPTION OF SECURITIES FOR SINKING FUND.

                  Not less than 60 days prior to each sinking fund payment date
for any series of Securities, the Company will deliver to the Trustee an
Officers' 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
Securities of that series pursuant to Section 1202 and will also deliver to the
Trustee any Securities to be so delivered. Not less than 30 nor more than 60
days before each such sinking fund payment date the Trustee shall select the
Securities to be redeemed upon such sinking fund payment date in the manner
specified in Section 1103 and cause notice of the redemption thereof to be given
in the name of and at the expense of the Company in the manner provided in
Section 1104. Such notice having been duly given, the redemption of such
Securities shall be made upon the terms and in the manner stated in Sections
1106 and 1107.

                               ARTICLE THIRTEEN

                      REPAYMENT AT THE OPTION OF HOLDERS

SECTION 1301.           APPLICABILITY OF ARTICLE.

                  Securities of any series which are repayable at the option of
the Holders thereof before their Stated Maturity shall be repaid in accordance
with the terms of the Securities of such series. The repayment of any principal
amount of Securities pursuant to such option of the Holder to require repayment
of Securities before their Stated Maturity, for purposes of Section 309, shall
not operate as a payment, redemption or satisfaction of the indebtedness
represented by such Securities unless and until the Company, at its option,
shall deliver or surrender the same to the Trustee with a directive that such

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Securities be cancelled. Notwithstanding anything to the contrary contained in
this Section 1301, in connection with any repayment of Securities, the Company
may arrange for the purchase of any Securities by an agreement with one or more
investment bankers or other purchasers to purchase such Securities by paying to
the Holders of such Securities on or before the close of business on the
repayment date an amount not less than the repayment price payable by the
Company on repayment of such Securities, and the obligation of the Company to
pay the repayment price of such Securities shall be satisfied and discharged to
the extent such payment is so paid by such purchasers.

                  The Company shall provide written notice to the Trustee at
least 30 days before any tender period related to a repayment pursuant to this
Section 1301.

                              ARTICLE FOURTEEN

                       SECURITIES IN FOREIGN CURRENCIES

SECTION 1401.           APPLICABILITY OF ARTICLE.

                  Whenever this Indenture provides for (i) any action by, or the
determination of any of the rights of, Holders of Securities of any series in
which not all of such Securities are denominated in the same Currency, or (ii)
any distribution to Holders of Securities, in the absence of any provision to
the contrary in the form of Security of any particular series, any amount in
respect of any Security denominated in a Currency other than Dollars shall be
treated for any such action or distribution as that amount of Dollars that could
be obtained for such amount at the noon buying rate in the City of New York for
cable transfers in foreign currencies as certified for customs purposes by the
Federal Reserve Bank of New York and as of the record date with respect to
Registered Securities of such series (if any) for such action, determination of
rights or distribution (or, if there shall be no applicable record date, such
other date reasonably proximate to the date of such action, determination of
rights or distribution) as the Company may specify in a written notice to the
Trustee.

                                 ARTICLE FIFTEEN

                        MEETINGS OF HOLDERS OF SECURITIES

SECTION 1501.           PURPOSES FOR WHICH MEETINGS MAY BE CALLED.

                  A meeting of Holders of Securities of such series may be
called at any time and from time to time pursuant to this Article 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 Securities of such series.

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SECTION 1502.           CALL, NOTICE AND PLACE OF MEETINGS.

                  (a) The Trustee may at any time call a meeting of Holders of
Securities of any series for any purpose specified in Section 1501, to be held
at such time and at such place in the Borough of Manhattan, The City of New York
or, if Securities of such series are to be issued as Bearer Securities, in
London, as the Trustee shall determine. Notice of every meeting of Holders of
Securities 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 106, not less than 21 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 10% in principal amount of the
Outstanding Securities of any series shall have requested the Trustee to call
a meeting of the Holders of Securities of such series for any purpose
specified in Section 1501, by written request setting forth in reasonable
detail the action proposed to be taken at the meeting, and the Trustee shall
not have made the first publication of the notice of such meeting within 21
days after receipt of such request or shall not thereafter proceed to cause
the meeting to be held as provided herein, then the Company or the Holders of
Securities of such series in the amount above specified, as the case may be,
may determine the time and the place in the Borough of Manhattan, The City of
New York, or, if Securities of such series are to issued as Bearer
Securities, in London for such meeting and may call such meeting for such
purposes by giving notice thereof as provided in subsection (a) of this
Section.

SECTION 1503.           PERSONS ENTITLED TO VOTE AT MEETINGS.

                  To be entitled to vote at any meeting of Holders of Securities
of any series, a Person shall be (1) a Holder of one or more Outstanding
Securities of such series, or (2) a Person appointed by an instrument in writing
as proxy for a Holder or Holders of one or more Outstanding Securities 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 Securities 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 1504.           QUORUM; ACTION.

                  The Persons entitled to vote a majority in principal amount
of the Outstanding Securities of a series shall constitute a quorum for a
meeting of Holders, of Securities 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 not
less than 66 2/3% in principal amount of the Outstanding Securities of a
series, the Persons entitled to vote 66 2/3% in principal amount of the
Outstanding Securities 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
Securities 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

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further adjourned for 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 1502(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 Securities of such series which shall constitute a quorum.

                  Except as limited by the proviso to Section 902, any
resolution represented 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 a majority in principal amount of the Outstanding
Securities of that series; PROVIDED, HOWEVER, that, except as limited by the
proviso to Section 902, any resolution with respect to any consent or waiver
which this Indenture expressly provides may be given by the Holders of not
less than 66 2/3% in principal amount of the Outstanding Securities of a
series may be adopted at a meeting or an adjourned meeting duly convened and
at which a quorum is present as aforesaid only by the affirmative vote of the
Holders of 66 2/3% in principal amount of the Outstanding Securities of that
series; and PROVIDED, FURTHER, that, except as limited by the proviso to
Section 902, any resolution with respect to any request, demand,
authorization, direction, notice, consent, waiver or other action which this
Indenture expressly provides may be made, given or taken by the Holders of a
specified percentage, which is less than a majority, in principal amount of
the outstanding Securities of a series may be adopted at a meeting or an
adjourned meeting duly reconvened and at which a quorum is present as
aforesaid by the affirmative vote of the Holders of such specified percentage
in principal amount of the Outstanding Securities of such series.

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

SECTION 1505.           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 Securities of such series in regard to proof of the
holding of Securities 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 Securities shall be proved in the manner specified in Section 104
and the appointment of any proxy shall be proved in the manner specified in
Section 104 or by having the signature of the person executing the proxy
witnessed or guaranteed by any trust company, bank or banker authorized by
Section 104 to certify to the holding of Bearer Securities. 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 104 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 Securities as

                                      79

<PAGE>

provided in Section 1502(b), in which case the Company or the Holders of
Securities 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 a majority in principal amount of the Outstanding Securities
of such series represented at the meeting.

                  (c) At any meeting, each Holder of a Security of such series
or proxy shall be entitled to one vote for each $1,000 principal amount of
Securities 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 Security
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 Security of such series or proxy.

                  (d) Any meeting of Holders of Securities of any series duly
called pursuant to Section 1502 at which a quorum is present may be adjourned
from time to time by Persons entitled to vote a majority in principal amount of
the Outstanding Securities of such series represented at the meeting; and the
meeting may be held as so adjourned without further notice.

SECTION 1506.           COUNTING VOTES AND RECORDING ACTION OF MEETINGS.

                  The vote upon any resolution submitted to any meeting of
Holders of Securities of any series shall be by written ballots on which
shall be subscribed the signature of the Holders of Securities of such series
or of their representative by proxy and the principal amounts and serial
number of the Outstanding Securities 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 triplicate of all votes cast at the
meeting. A record, at least in triplicate, of the proceedings of each meeting
of Holders of Securities of any series shall be prepared by the secretary of
the meeting and there shall be attached to such 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 such notice was given as provided
in Section 1502 and, if applicable, Section 1504. 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.

                  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.

                                      80

<PAGE>

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

                                       QUESTAR MARKET RESOURCES, INC.

                                       By
                                           -----------------------------------
                  [SEAL]                      Name:
                                              Title:

Attest:

-----------------------------------
Name:
Title:

                                       BANK ONE, NA, Trustee

                  [SEAL]               By
                                           -----------------------------------
                                              Name:
                                              Title:

Attest:

-----------------------------
Name:
Title:

                                      81

<PAGE>

STATE OF UTAH                                    )
                                        :        SS.:
COUNTY OF SALT LAKE                     )

                  On this ____ day of March, 2001 before me personally appeared
_________, who acknowledged himself to be the _________________ of QUESTAR
MARKET RESOURCES, INC., a Utah corporation, and that he, as such
_________________, being authorized so to do, executed the foregoing instrument
for the purposes therein contained, by signing the name of the corporation by
himself as such ___________________.

                  IN WITNESS WHEREOF, I hereunto set may hand and official seal.

                                       -------------------------------
                                       Notary Public

STATE OF ILLINOIS                       )
                                        :        SS.:
COUNTY OF _____________                          )

                  On this ____ day of March, 2001 before me personally came
_________, to me known, who, being by me duly sworn, did depose and say that he
is a __________________ of BANK ONE, NA, the national banking association
described in and which executed the foregoing instrument; that he knows the seal
of said national banking association; that the seal affixed to said instrument
is such seal; that it was so affixed by authority of the Board of Directors of
said national banking association, and that he signed his name thereto by like
authority.

                                       -------------------------------
                                       Notary Public

[NOTARY SEAL]

                                     82

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