Document:

exv4w1

Exhibit 4.1

MAXIM INTEGRATED PRODUCTS, INC.

$300,000,000

3.45% SENIOR NOTES DUE 2013

 

SUPPLEMENTAL INDENTURE

Dated as of June 17, 2010

To

INDENTURE

Dated as of June 10, 2010

 

WELLS FARGO BANK, NATIONAL ASSOCIATION

As Trustee

 

 

 

TABLE OF CONTENTS

 

	 	 	 	 	 
	 	 	Page
	ARTICLE 1

	Definitions and Incorporation

	by Reference

	 
	 	 	 	 
	Section 1.01. Relationship with Base Indenture

	 	 	1	 
	Section 1.02. Definitions

	 	 	2	 
	 
	 	 	 	 
	ARTICLE 2

	The Notes

	 
	 	 	 	 
	Section 2.01. Form and Dating

	 	 	11	 
	Section 2.02. Transfer and Exchange

	 	 	12	 
	Section 2.03. Issuance of Additional Notes

	 	 	17	 
	 
	 	 	 	 
	ARTICLE 3

	Redemption and Prepayment

	 
	 	 	 	 
	Section 3.01. Notice of Redemption; Selection of Securities

	 	 	18	 
	Section 3.02. Notes Redeemed in Part

	 	 	18	 
	Section 3.03. Optional Redemption

	 	 	18	 
	Section 3.04. Mandatory Redemption

	 	 	19	 
	 
	 	 	 	 
	ARTICLE 4

	Particular Covenants

	 
	 	 	 	 
	Section 4.01. Limitation on Liens

	 	 	19	 
	Section 4.02. Limitation on Sale and Lease-Back Transactions

	 	 	20	 
	Section 4.03. Offer to Purchase Upon Change of Control Triggering Event

	 	 	20	 
	 
	 	 	 	 
	ARTICLE 5

	Successors

	 
	 	 	 	 
	Section 5.01. Merger, Consolidation or Sale of Assets 
	 	 	22	 
	 
	 	 	 	 
	ARTICLE 6

	Miscellaneous

	 
	 	 	 	 
	Section 6.01. Trust Indenture Act Controls

	 	 	23	 
	Section 6.02. Governing Law

	 	 	23	 
	Section 6.03. Successors

	 	 	23	 
	Section 6.04. Severability

	 	 	24	 
	Section 6.05. Counterpart Originals

	 	 	24	 
	Section 6.06. Table of Contents, Headings, Etc

	 	 	24	 

i

 

	 	 	 	 	 
	 	 	Page
	Section 6.07. Validity or Sufficiency of Supplemental Indenture

	 	 	24	 
	Section 6.08. Waiver of Jury Trial

	 	 	24	 

ii

 

     SUPPLEMENTAL INDENTURE dated as of June 17, 2010 by and between Maxim Integrated Products,
Inc., a Delaware corporation (the “Company”), and Wells Fargo Bank, National Association, a
national banking association, as trustee (the “Trustee”).

     The Company has heretofore executed and delivered to the Trustee an indenture, dated as of
June 10, 2010 (the “Base Indenture”, and together with this Supplemental Indenture, the
“Indenture”), providing for the issuance from time to time of one or more series of the Company’s
debt securities.

     The Company desires and has requested the Trustee pursuant to Section 9.01 of the Base
Indenture to join with it in the execution and delivery of this Supplemental Indenture in order to
supplement the Base Indenture as and to the extent set forth herein to provide for the issuance and
the terms of the Notes (as defined below).

     Section 9.01 of the Base Indenture provides that the Company and the Trustee, without the
consent of any holders of the Company’s Securities, may amend or waive certain terms and conditions
in the Base Indenture as permitted by Sections 9.01 and 9.02 thereof.

     The execution and delivery of this Supplemental Indenture has been duly authorized by a
resolution of the Board of Directors of the Company or a duly authorized committee thereof.

     All conditions and requirements necessary to make this Supplemental Indenture a valid, binding
and legal instrument in accordance with its terms have been performed and fulfilled by the parties
hereto and the execution and delivery thereof have been in all respects duly authorized by the
parties hereto.

     The Company and the Trustee agree as follows for the benefit of each other and for the equal
and ratable benefit of the Holders (as defined herein) of the 3.45% Senior Notes due 2013 (the
“Notes”):

ARTICLE 1

Definitions and Incorporation

by Reference

     Section 1.01. Relationship with Base Indenture. The terms and provisions contained in the
Base Indenture will constitute, and are hereby expressly made, a part of this Supplemental
Indenture and the Company and the Trustee, by their execution and delivery of this Supplemental
Indenture, expressly agree to such terms and provisions and to be bound thereby. However, to the
extent any provision of the Base Indenture conflicts with the express provisions of this
Supplemental Indenture, the provisions of this Supplemental Indenture will govern and be
controlling.

 

 

     The Trustee accepts the amendment of the Base Indenture effected by this Supplemental
Indenture and agrees to execute the trust created by the Base Indenture as hereby amended, but only
upon the terms and conditions set forth in this Supplemental Indenture, including the terms and
provisions defining and limiting the liabilities and responsibilities of the Trustee in the
performance of the trust created by the Base Indenture, and without limiting the generality of the
foregoing, the Trustee will not be responsible in any manner whatsoever for or with respect to any
of the recitals or statements contained herein, all of which recitals or statements are made solely
by the Company, or for or with respect to (1) the validity or sufficiency of this Supplemental
Indenture or any of the terms or provisions hereof, (2) the proper authorization hereof by the
Company, (3) the due execution hereof by the Company or (4) the consequences (direct or indirect
and whether deliberate or inadvertent) of any amendment herein provided for, and the Trustee makes
no representation with respect to any such matters.

     Section 1.02. Definitions. Capitalized terms used herein without definition shall have the
respective meanings set forth in the Base Indenture. The following terms have the meanings given
to them in this Section 1.02:

     “Additional Notes” means any Notes (other than the Initial Notes) issued under this
Supplemental Indenture in accordance with Section 2.03 hereof, as part of the same series as the
Initial Notes.

     “Aggregate Debt” means the sum of the following as of the date of determination:

     (1) the aggregate principal amount of the Company’s Indebtedness and the Indebtedness of the
Company’s subsidiaries incurred after the closing date and secured by Liens not permitted by the
first sentence under Section 4.01(a), and

     (2) the Company’s Attributable Liens and those of the Company’s subsidiaries in respect of
sale and lease-back transactions entered into after the closing date pursuant to Section 4.01(b).

     “Attributable Liens” means in connection with a sale and lease-back transaction the lesser of:

     (1) the fair market value of the assets subject to such transaction (as determined in good
faith by the Board of Directors of the Company); and

     (2) the present value (discounted at a rate per annum equal to the average interest borne by
all outstanding debt securities of each series issued under the Indenture, which may include debt
securities in addition to the Notes, determined on a weighted average basis and compounded
semi-annually) of the obligations of the lessee for rental payments during the term of the related
lease.

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     “Base Indenture” has the meaning set forth in the preamble to this Supplemental Indenture, as
amended, supplemented or otherwise modified from time to time in accordance with the terms thereof.

     “Capital Lease” means any Indebtedness represented by a lease obligation of a Person incurred
with respect to real property or equipment acquired or leased by such Person and used in its
business that is required to be recorded as a capital lease in accordance with GAAP.

     “Capital Stock” means:

     (1) in the case of a corporation, corporate stock;

     (2) in the case of an association or business entity, any and all shares, interests,
participations, rights or other equivalents (however designated and whether or not voting) of
corporate stock, including each class of Common Stock and Preferred Stock of such Person; and

     (3) in the case of a partnership or limited liability company, partnership or membership
interests (whether general or limited).

     “Change of Control” means the occurrence of any one or more of the following events:

     (1) the direct or indirect 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 Company’s assets and the assets of its subsidiaries taken as a whole to
any “person” (as that term is used in Section 13(d)(3) of the Exchange Act) other than to us or one
of the Company’s subsidiaries;

     (2) the consummation of any transaction (including, without limitation, any merger or
consolidation) the result of which is that any “person” or “group” of related persons (as such
terms are used in Section 13(d)(3) of the Exchange Act) becomes the “beneficial owner” (as defined
in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of a majority of the
total voting power of the Company’s Voting Stock;

     (3) the Company consolidates with, or merges with or into, any person, or any person
consolidates with, or merges with or into, the Company, in any such event pursuant to a transaction
in which any of the Company’s outstanding Voting Stock or such other person is converted into or
exchanged for cash, securities or other property, other than any such transaction where the shares
of the Company’s Voting Stock outstanding immediately prior to such transaction constitute, or are
converted into or exchanged for, a majority of the Voting Stock of the surviving person immediately
after giving effect to such transaction;

3

 

     (4) the first day on which the majority of the members of the Company’s board of directors
cease to be Continuing Directors; or

     (5) the adoption of a plan relating to the Company’s liquidation or dissolution.

     “Change of Control Date” has the meaning assigned to such term in Section 4.03.

     “Change of Control Offer” has the meaning assigned to such term in Section 4.03.

     “Change of Control Payment Date” has the meaning assigned to such term in Section 4.03.

     “Change of Control Purchase Date” has the meaning assigned to such term in Section 4.03.

     “Change of Control Purchase Price” has the meaning assigned to such term in Section 4.03.

     “Change of Control Triggering Event” means the occurrence of both a Change of Control and a
Rating Event.

     “Common Stock” of any Person means any and all shares, interests or other participations in,
and other equivalents (however designated and whether voting or non-voting) of, such Person’s
common stock, and includes, without limitation, all series and classes of such Common Stock.

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

     “Comparable Treasury Price” means, with respect to any Redemption Date, (i) the average of
four Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and
lowest such Reference Treasury Dealer Quotations, or (ii) if the Independent Investment Banker
obtains fewer than four such Reference Treasury Dealer Quotations, the average of all such
quotations, or (iii) if only one Reference Treasury Dealer Quotation is received, such quotation.

     “Consolidated Net Tangible Assets” means, as of any date on which the Company effects a
transaction requiring such Consolidated Net Tangible Assets to be measured hereunder, the aggregate
amount of assets (less applicable reserves) after deducting therefrom: (a) all current liabilities,
except for current

4

 

maturities of long-term debt and obligations under Capital Leases; and (b) intangible assets,
to the extent included in said aggregate amount of assets, all as set forth on the Company’s most
recent consolidated balance sheet and computed in accordance with GAAP applied on a consistent
basis.

     “Continuing Director” means, as of any date of determination, any member of the Company’s
board of directors who:

     (1) was a member of the Company’s board of directors on the date of the indenture; or

     (2) was nominated for election, elected or appointed to the Company’s board of directors with
the approval of a majority of the Continuing Directors who were members of the Company’s board of
directors at the time of such nomination, election or appointment.

     “Definitive Note” means a certificated Note registered in the name of the Holder thereof and
issued in accordance with Section 2.02 hereof, substantially in the form of Exhibit A hereto
except that such Note will not bear the Global Note Legend.

     “Depositary” means, with respect to the Notes issuable or issued in whole or in part in global
form, the Person specified in Section 2.01 hereof as the Depositary with respect to the Notes, and
any and all successors thereto appointed as depositary hereunder and having become such pursuant to
the applicable provision of this Supplemental Indenture.

     “DTC” has the meaning assigned to such term in Section 2.01.

     “Exchange Act” means the Securities Exchange Act of 1934, as amended.

     “GAAP” means generally accepted accounting principles set forth in the opinions and
pronouncements of the Public Company Accounting Oversight Board (United States) and statements and
pronouncements of the Financial Accounting Standards Board or in such other statements by such
other entity as have been approved by a significant segment of the accounting profession, which are
in effect as of the date of determination.

     “Global Note Legend” means the legend set forth in Section 2.02(f), which is required to be
placed on all Global Notes issued under this Supplemental Indenture.

     “Global Notes” means, individually and collectively, each of the Global Notes, in the form of
Exhibit A hereto issued in accordance with Section 2.01 hereof.

     “Hedging Obligations” means, with respect to any specified Person, the obligations of such
Person under:

5

 

     (1) interest rate swap agreements (whether from fixed to floating or from floating to fixed),
interest rate cap agreements, interest rate lock agreements and interest rate collar agreements;

     (2) other agreements or arrangements designed to manage interest rates or interest rate risk;

     (3) other agreements or arrangements designed to protect such Person against fluctuations in
currency exchange rates or commodity prices; and

     (4) other agreements or arrangements designed to protect such Person against fluctuations in
equity prices.

     “Holder” means a Person in whose name a Note is registered.

     “Indebtedness” of any specified Person means, without duplication, any indebtedness, whether
or not contingent, in respect of borrowed money or that is evidenced by bonds, notes, debentures or
similar instruments or letters of credit (or reimbursement agreements with respect thereto) or
representing the balance deferred and unpaid of the purchase price of any Property (including
pursuant to Capital Leases), except any such balance that constitutes an accrued expense or trade
payable, if and to the extent any of the foregoing indebtedness would appear as a liability upon an
unconsolidated balance sheet of such Person (but does not include contingent liabilities which
appear only in a footnote to a balance sheet). In addition, the term “Indebtedness” includes all
of the following items, whether or not any such items would appear as a liability on a balance
sheet of the specified person in accordance with GAAP:

	 	(1)	 	all Indebtedness of others secured by a lien on any asset of the specified
person (whether or not such Indebtedness is assumed by the specified person); and
	 
	 	(2)	 	to the extent not otherwise included, any guarantee by the specified person
of Indebtedness of any other person.

     “Indenture” means the Base Indenture, as supplemented by this Supplemental Indenture,
governing the Notes, in each case, as amended, supplemented or restated from time to time.

     “Independent Investment Banker” means the Reference Treasury Dealer appointed by the Company.

     “Indirect Participant” means a Person who holds a beneficial interest in a Global Note through
a Participant.

     “Initial Notes” means the first $300,000,000 aggregate principal amount of Notes issued under
this Supplemental Indenture on the date hereof.

6

 

     “Investment Grade” means a rating equal to or better than Baa3 (or the equivalent under any
successor rating category of Moody’s) by Moody’s and equal to or better than BBB- (or the
equivalent under any successor rating category of S&P) by S&P.

     “Lien” means any lien, security interest, charge or encumbrance of any kind (including any
conditional sale or other title retention agreement, any lease in the nature thereof, and any
agreement to give any security interest).

     “Moody’s” means Moody’s Investors Service, Inc., and its successors.

     “Notes” has the meaning assigned to it in the preamble to this Supplemental Indenture. The
Initial Notes and the Additional Notes will be treated as a single class for all purposes under
this Supplemental Indenture, and unless the context otherwise requires, all references to the Notes
will include the Initial Notes and any Additional Notes.

     “Participant” means, with respect to the Depositary, a Person who has an account with the
Depositary.

     “Permitted Liens” means:

     (1) Liens on any of the Company’s or its subsidiaries’ assets, created solely to
secure obligations incurred to finance the refurbishment, improvement or construction of
such asset, which obligations are incurred no later than 18 months after completion of
such refurbishment, improvement or construction, and all renewals, extensions,
refinancings, replacements or refundings of such obligations;

     (2) (a) Liens given to secure the payment of the purchase price incurred in
connection with the acquisition (including acquisition through merger or consolidation) of
Property (including shares of stock), including Capital Lease transactions in connection
with any such acquisition, and (b) Liens existing on Property at the time of acquisition
thereof or at the time of acquisition by the Company of any Person then owning such
Property whether or not such existing Liens were given to secure the payment of the
purchase price of the Property to which they attach; provided that, with respect to clause
(a), the Liens shall be given within 18 months after such acquisition (or be a Lien
securing a renewal, extension, refinancing, replacement or refunding of such an obligation
and for which a Lien was previously given in accordance with this Subsection (2)) and
shall attach solely to the Property acquired or purchased and any improvements then or
thereafter placed thereon;

     (3) Liens in favor of customs and revenue authorities or financial institutions in
respect of customs duties in connection with the importation of goods;

7

 

     (4) Liens for taxes not yet due or that are being contested in good faith by
appropriate proceedings, provided that adequate reserves with respect thereto are
maintained on the Company’s books or the books of any of the Company’s subsidiaries in
conformity with GAAP;

     (5) Liens securing reimbursement obligations with respect to letters of credit that
encumber documents and other Property relating to such letters of credit and the products
and proceeds thereof;

     (6) Liens encumbering customary initial deposits and margin deposits and other Liens
in the ordinary course of business, in each case securing Hedging Obligations and forward
contracts, options, futures contracts, futures options, equity hedges or similar
agreements or arrangements designed to protect the Company from fluctuations in interest
rates, currencies, equities or the price of commodities;

     (7) Liens in favor of only the Company or one or more of its Subsidiaries;

     (8) inchoate Liens incident to construction or maintenance of real property, or Liens
incident to construction or maintenance of real property, now or hereafter filed of record
for sums not yet delinquent or being contested in good faith, if reserves or other
appropriate provisions, if any, as shall be required by GAAP shall have been made
therefor;

     (9) statutory Liens arising in the ordinary course of business with respect to
obligations which are not delinquent or are being contested in good faith, if reserves or
other appropriate provisions, if any, as shall be required by GAAP shall have been made
therefor;

     (10) Liens consisting of pledges or deposits to secure obligations under workers’
compensation laws or similar legislation, including Liens of judgments thereunder which
are not currently dischargeable;

     (11) Liens consisting of deposits of Property to secure the Company’s statutory
obligations or those of any of its subsidiaries in the ordinary course of its business;

     (12) Liens consisting of pledges or deposits of Property to secure performance in
connection with operating leases made in the ordinary course of business to which the
Company is a party as lessee, provided the aggregate value of all such pledges and
deposits in connection with any such lease does not at any time exceed 162/3% of the annual
fixed rentals payable under such lease;

8

 

     (13) Liens consisting of deposits of Property to secure (or in lieu of) surety or
appeal bonds in proceedings to which the Company is a party in the ordinary course of its
business, but not in excess of $25,000,000;

     (14) Liens securing Specified Non-Recourse Debt, so long as the aggregate outstanding
amount of the obligations secured thereby does not exceed $75,000,000 at any one time; and

     (15) Liens (i) of a collection bank on the items in the course of collection in the
ordinary course of business, (ii) in favor of a banking or other financial institution
arising as a matter of law encumbering deposits or other funds maintained with a financial
institution (including the right of set off) and which are customary in the banking
industry and (iii) attaching to other prepayments, deposits or earnest money in the
ordinary course of business.

     “Preferred Stock” of any Person means any Capital Stock of such Person that has preferential
rights to any other Capital Stock of such Person with respect to dividends or redemptions or upon
liquidation.

     “Property” means any property or asset, whether real, personal or mixed, or tangible or
intangible, including shares of capital stock.

     “Rating Agency” means (1) each of Moody’s and S&P; and (2) if either Moody’s or S&P ceases to
rate the Notes or fails to make a rating of the Notes publicly available for reasons outside of the
Company’s control, a Substitute Rating Agency in lieu thereof within the meaning of Rule
15c3-1(e)(2)(vi)(F) under the Exchange Act, selected by the Company (as certified by a resolution
of its Board of Directors) as a replacement agency for Moody’s or S&P, or both, as the case may be.

     “Rating Event” means the notes cease to be rated Investment Grade by both Rating Agencies on
any day during the period (the “Trigger Period”) commencing on the earlier of the first public
notice of (a) the occurrence of a Change of Control or (b) the public announcement of the Company’s
intention to effect a Change of Control, and ending 60 days following consummation of such Change
of Control (which period shall be extended so long as the rating of the notes is under publicly
announced consideration for a possible rating change by either of the Rating Agencies). If either
Rating Agency is not providing a rating of the notes on any day during the Trigger Period for any
reason, the rating of such Rating Agency shall be deemed to have ceased to be rated Investment
Grade during the Trigger Period.

     “Redemption Date” has the meaning assigned to such term in Section 3.03.

9

 

     “Reference Treasury Dealer” means (i) J.P. Morgan Securities Inc. and Goldman, Sachs & Co. (or
their respective affiliates that are Primary Treasury Dealers) and their respective successors;
provided, however, that if any of the foregoing shall cease to be a primary U.S. Government
securities dealer in New York City (a “Primary Treasury Dealer”), the Company will substitute
therefor another Primary Treasury Dealer, and (ii) any other Primary Treasury Dealer selected by
the Company.

     “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer
and any Redemption Date, the average, as determined by the Independent Investment Banker, of the
bid and asked prices for the Comparable Treasury Issue (expressed as a percentage of its principal
amount) quoted in writing to the Independent Investment Banker by such Reference Treasury Dealer at
5:00 p.m., New York City time, on the third business day preceding such Redemption Date.

     “Remaining Scheduled Payments” means, with respect to each note to be redeemed, the remaining
scheduled payments of the principal thereof and interest thereon that would be due after the
related redemption date for such redemption; provided that if such redemption date is not an
interest payment date with respect to such note, the amount of the next succeeding scheduled
interest payment thereon will be reduced by the amount of interest accrued thereon to such
redemption date.

     “S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc.,
and its successors.

     “Specified Non-Recourse Debt” means any account or trade receivable factoring, securitization,
sale or financing facility, the obligations of which are non-recourse (except with respect to
customary representations, warranties, covenants and indemnities made in connection with such
facility) to the Company.

     “Stockholders’ Equity” means, as of any date of determination, stockholders’ equity as
reflected on the most recent consolidated balance sheet available to the Company prepared in
accordance with GAAP.

     “subsidiary” of any specified Person means any corporation, limited liability company, limited
partnership, association or other business entity of which more than 50% of the total voting power
of shares of capital stock entitled (without regard to the occurrence of any contingency) to vote
in the election of directors, managers or trustees thereof is at the time owned or controlled,
directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a
combination thereof.

     “Substitute Rating Agency” means a “nationally recognized statistical rating organization”
within the meaning of Rule 15c3-1(c)(2)(vi)(F) under the Exchange Act, selected by us (as certified
by a resolution of the Company’s board

10

 

of directors) as a replacement agency for Moody’s or S&P, or both of them, as the case may be.

     “Supplemental Indenture” means this Supplemental Indenture, dated as of the date hereof, by
and among the Company and the Trustee, governing the Notes, as amended, supplemented or otherwise
modified from time to time in accordance with the Base Indenture and the terms hereof.

     “Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the
semi-annual equivalent yield to maturity, computed as the third Business Day immediately preceding
that Redemption Date, of the Comparable Treasury Issue, assuming a price for the Comparable
Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury
Price for such Business Day.

     “Voting Stock” of any specified person as of any date means the Capital Stock of such person
that is at the time entitled to vote generally in the election of the board of directors of such
person.

ARTICLE 2

The Notes

     Section 2.01. Form and Dating. (a) General. The Notes and the Trustee’s certificate of
authentication included thereon will be substantially in the form of Exhibit A hereto. The
Notes may have notations, legends or endorsements required by law, stock exchange rule or usage.
Each Note will be dated the date of its authentication. The Notes will be in denominations of
$2,000 with integral multiples of $1,000 in excess thereof.

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

     (b) Global Notes. Notes issued in global form will be substantially in the form of
Exhibit A attached hereto (including the Global Note Legend thereon). Notes issued in
definitive form will be substantially in the form of Exhibit A attached hereto (but without
the Global Note Legend thereon). Each Global Note will represent such of the outstanding Notes as
will be specified therein and each will provide that it will represent the aggregate principal
amount of outstanding Notes from time to time endorsed thereon and that the aggregate principal
amount of outstanding Notes represented thereby may from time to time be reduced or increased, as
appropriate, to reflect exchanges and redemptions. Any endorsement of a Global Note to reflect the
amount of any increase or decrease in

11

 

the aggregate principal amount of outstanding Notes represented thereby will be made by the
Trustee or the custodian of the Notes, at the direction of the Trustee, in accordance with
instructions given by the Holder thereof as required by Section 2.02 hereof. The Company
initially appoints The Depository Trust Company (“DTC”) to act as Depositary with respect to the
Global Notes.

     Section 2.02. Transfer and Exchange. (a) Transfer and Exchange of Global Notes. A Global
Note may not be transferred as a whole except by the Depositary to a nominee of the Depositary, by
a nominee of the Depositary to the Depositary or to another nominee of the Depositary, or by the
Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary.
All Global Notes will be exchanged by the Company for Definitive Notes if:

     (i) such Depositary (A) has notified the Company that it is unwilling or unable to
continue its services as Depositary for such Global Security and no successor Depositary
has been appointed within 90 days after such notice or (B) ceases to be a “clearing
agency” registered under Section 17A of the Securities Exchange Act of 1934 when the
Depositary is required to be so registered to act as the Depositary and so notifies the
Company, and no successor Depositary has been appointed within 90 days after such notice;

     (ii) the Company determines at any time that the Notes shall no longer be represented
by Global Notes and shall inform such Depositary of such determination and participants in
such Depositary elect to withdraw their beneficial interests in the Notes from such
Depositary, following notification by the Depositary of their right to do so; or

     (iii) such exchange is made following the request by or on behalf of at least 25% of
the Beneficial Owners seeking to exercise or enforce their rights under the Securities
during the continuance of an Event of Default.

     Upon the occurrence of either of the preceding events in (i) or (ii) above, Definitive Notes
will be issued in such names and in any approved denominations as the Depositary will instruct the
Trustee. Global Notes also may be exchanged or replaced, in whole or in part, as provided in
Sections 2.06 and 2.07 of the Base Indenture. Every Note authenticated and delivered in exchange
for, or in lieu of, a Global Note or any portion thereof, pursuant to this Section 2.02 or
Sections 2.06 or 2.07 of the Base Indenture, will be authenticated and delivered in the form of,
and will be, a Global Note. A Global Note may not be exchanged for another Note other than as
provided in this Section 2.02(a), however, beneficial interests in a Global Note may be
transferred and exchanged as provided in Section 2.02(b), (c) or (g) hereof.

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     (b) Transfer and Exchange of Beneficial Interests in the Global Notes. The transfer and
exchange of beneficial interests in the Global Notes will be effected through the Depositary, in
accordance with the provisions of this Supplemental Indenture and customary procedures. Transfers
of beneficial interests in the Global Notes also will require compliance with either subparagraph
(i) or (ii) below, as applicable, as well as one or more of the other following subparagraphs, as
applicable:

     (i) Transfer of Beneficial Interests in the Same Global Note. Beneficial interests
in any Global Note may be transferred to Persons who take delivery thereof in the form of
a beneficial interest in a Global Note. No written orders or instructions will be
required to be delivered to the Registrar to effect the transfers described in this
Section 2.02(b)(i).

     (ii) All Other Transfers and Exchanges of Beneficial Interests in Global Notes. In
connection with all transfers and exchanges of beneficial interests that are not subject
to Section 2.02(b)(i) above, the transferor of such beneficial interest must deliver to
the Registrar either:

     (A) a written order from a Participant or an Indirect Participant given to
the Depositary in accordance with customary procedures directing the Depositary
to credit or cause to be credited a beneficial interest in another Global Note
in an amount equal to the beneficial interest to be transferred or exchanged; or

     (B) instructions given in accordance with customary procedures containing
information regarding the Participant account to be credited with such increase.

     Upon satisfaction of all of the requirements for transfer or exchange of beneficial interests
in Global Notes contained in this Supplemental Indenture and the Notes or otherwise applicable
under the Securities Act, the Trustee will adjust the principal amount of the relevant Global
Note(s) pursuant to Section 2.02(g) hereof.

     (c) Transfer or Exchange of Beneficial Interests for Definitive Notes.

     If any holder of a beneficial interest in a Global Note proposes to exchange such beneficial
interest for a Definitive Note or to transfer such beneficial interest to a Person who takes
delivery thereof in the form of a Definitive Note, then the transferor of such beneficial interest
must deliver to the Registrar a written order from a Participant or an Indirect Participant given
to the Depositary in accordance with customary procedures containing information regarding the
beneficial interest to be so exchanged or transferred and the recipient of the Definitive Note.

13

 

     Upon satisfaction of the conditions set forth in this (c)Section 2.02(c), the Trustee will
cause the aggregate principal amount of the applicable Global Note to be reduced accordingly
pursuant to Section 2.02(g) hereof, and the Company will execute and the Trustee will authenticate
and deliver to the Person designated in the instructions a Definitive Note in the appropriate
principal amount. Any Definitive Note issued in exchange for a beneficial interest pursuant to this
Section 2.02(c) will be registered in such name or names and in such authorized denomination or
denominations as the holder of such beneficial interest requests through instructions to the
Registrar from or through the Depositary and the Participant or Indirect Participant. The Trustee
will deliver such Definitive Notes to the Persons in whose names such Notes are so registered.

     Notwithstanding the foregoing, any exchange or transfer of a beneficial interest in a Global
Note for a Definitive Note contemplated by this Section 2.02(c) shall only be permitted if (i)
the Company determines at any time that the Notes shall no longer be represented by Global Notes
and shall inform such Depositary of such determination or (ii) such exchange or transfer is made
upon request by or on behalf of at least 25% of the Beneficial Owners seeking to exercise or
enforce their rights under the Securities during the continuance of an Event of Default.

     (d) Transfer and Exchange of Definitive Notes for Beneficial Interests.

     A Holder of a Definitive Note may exchange such Note for a beneficial interest in a Global
Note or transfer such Definitive Notes to a Person who takes delivery thereof in the form of a
beneficial interest in a Global Note at any time. Upon receipt of a request for such an exchange
or transfer, the Trustee will cancel the applicable Definitive Note and increase or cause to be
increased the aggregate principal amount of one of the Global Notes.

     If any such exchange or transfer from a Definitive Note to a beneficial interest is effected
pursuant to the previous paragraph at a time when a Global Note has not yet been issued, the
Company will issue and, upon receipt of a Company Order, the Trustee will authenticate one or more
Global Notes in an aggregate principal amount equal to the principal amount of Definitive Notes so
transferred.

     A Holder of Definitive Notes may transfer such Notes to a Person who takes delivery thereof in
the form of a Definitive Note.

     (e) Transfer and Exchange of Definitive Notes for Definitive Notes. Upon request by a Holder
of Definitive Notes and such Holder’s compliance with the provisions of this Section 2.02(e), the
Registrar will register the transfer or exchange of Definitive Notes. Prior to such registration
of transfer or exchange, the requesting Holder will present or surrender to the Registrar the
Definitive Notes duly endorsed or accompanied by a written instruction of transfer in form
satisfactory to the Registrar duly executed by such Holder or by his attorney, duly

14

 

authorized in writing. In addition, the requesting Holder will provide any additional
certifications, documents and information, as applicable, required pursuant to the following
provisions of this Section 2.02(e).

     (f) Legends. The following legends will appear on the face of all Global Notes issued under
this Supplemental Indenture unless specifically stated otherwise in the applicable provisions of
this Supplemental Indenture.

     “THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE SUPPLEMENTAL INDENTURE
GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND
IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH
NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.02 OF THE SUPPLEMENTAL INDENTURE, (II)
THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.02(A) OF THE
SUPPLEMENTAL INDENTURE, (III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION
PURSUANT TO SECTION 2.12 OF THE BASE INDENTURE AND (IV) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A
SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY.

     UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE
MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A
NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE
DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY.
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”) TO THE COMPANY OR ITS AGENT FOR REGISTRATION
OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF
DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.”

     (g) Cancellation and/or Adjustment of Global Notes. At such time as all beneficial interests
in a particular Global Note have been exchanged for Definitive Notes or a particular Global Note
has been redeemed, repurchased or

15

 

canceled in whole and not in part, each such Global Note will be returned to or retained and
canceled by the Trustee in accordance with Section 2.09 of the Base Indenture. At any time prior
to such cancellation, if any beneficial interest in a Global Note is exchanged for or transferred
to a Person who will take delivery thereof in the form of a beneficial interest in another Global
Note or for Definitive Notes, the principal amount of Notes represented by such Global Note will be
reduced accordingly and an endorsement will be made on such Global Note by the Trustee or by the
custodian of the Notes at the direction of the Trustee to reflect such reduction; and if the
beneficial interest is being exchanged for or transferred to a Person who will take delivery
thereof in the form of a beneficial interest in another Global Note, such other Global Note will be
increased accordingly and an endorsement will be made on such Global Note by the Trustee or by the
custodian of the Notes at the direction of the Trustee to reflect such increase.

     (h) General Provisions Relating to Transfers and Exchanges.

     (i) To permit registrations of transfers and exchanges, the Company will execute and
the Trustee will authenticate Global Notes and Definitive Notes upon the Company’s order
or at the Registrar’s request.

     (ii) No service charge will be made to a holder of a beneficial interest in a Global
Note or to a Holder of a Definitive Note for any registration of transfer or exchange, but
the Company may require payment of a sum sufficient to cover any transfer tax or similar
governmental charge payable in connection therewith (other than any such transfer taxes or
similar governmental charge payable upon exchange or transfer pursuant to Section 4.03
hereof and Sections 2.07 and 9.04 of the Base Indenture).

     (iii) The Registrar will not be required to register the transfer of or exchange any
Note selected for redemption in whole or in part, except the unredeemed portion of any
Note being redeemed in part.

     (iv) All Global Notes and Definitive Notes issued upon any registration of transfer
or exchange of Global Notes or Definitive Notes will be the valid obligations of the
Company, evidencing the same debt, and entitled to the same benefits under this
Supplemental Indenture, as the Global Notes or Definitive Notes surrendered upon such
registration of transfer or exchange.

     (v) The Company will not be required:

     (A) to issue, to register the transfer of or to exchange any Notes during a
period of 15 days before the day of any selection of Notes for redemption under
Section 3.02 of the Base

16

 

Indenture and ending at the close of business on the day of selection;

     (B) to register the transfer of or to exchange any Note so selected for
redemption in whole or in part, except the unredeemed portion of any Note being
redeemed in part; or

     (C) to register the transfer of or to exchange a Note between a record date
and the next succeeding interest payment date.

     (vi) Prior to due presentment for the registration of a transfer of any Note, the
Trustee, any Agent and the Company may deem and treat the Person in whose name any Note is
registered as the absolute owner of such Note for the purpose of receiving payment of
principal of and interest on such Notes and for all other purposes, and none of the
Trustee, any Agent or the Company will be affected by notice to the contrary.

     (vii) The Trustee will authenticate Global Notes and Definitive Notes in accordance
with the provisions of Section 2.03 of the Base Indenture.

     (viii) All certifications, certificates and Opinions of Counsel required to be
submitted to the Registrar or Trustee pursuant to this Section 2.02 to effect a
registration of transfer or exchange may be submitted by facsimile.

     (ix) The Trustee shall have no obligation or duty to monitor, determine or inquire as
to compliance with any restrictions on transfer imposed under this Supplemental Indenture
or under applicable law with respect to any transfer of any interest in any Note other
than to require delivery of such certificates and other documentation or evidence as are
expressly required by, and to do so if and when expressly required by the terms of, this
Supplemental Indenture, and to examine the same to determine substantial compliance as to
form with the express requirements hereof.

     (x) Neither the Trustee nor any Agent shall have any liability or responsibility for
any actions taken or not taken by the Depositary.

     Section 2.03. Issuance of Additional Notes. The Company will be entitled, upon delivery of
an Officer’s Certificate and an Opinion of Counsel, to issue Additional Notes under this
Supplemental Indenture which will have identical terms as the Initial Notes issued on the date
hereof, other than with respect to the date of issuance and issue price. The Initial Notes issued
on the date hereof and any Additional Notes issued will be treated as a single class for all
purposes under this Supplemental Indenture.

17

 

     The Company shall not be entitled to issue Additional Notes under this Supplemental Indenture
if such Additional Notes would not be fungible with the Initial Notes for U.S. federal income tax
purposes.

     With respect to any Additional Notes, the Company will set forth in a resolution of its Board
of Directors and an Officer’s Certificate, a copy of each which will be delivered to the Trustee,
the following information:

     (a) the aggregate principal amount of such Additional Notes to be authenticated and delivered
pursuant to this Supplemental Indenture; and

     (b) the issue price, the issue date and the CUSIP number of such Additional Notes.

ARTICLE 3

Redemption and Prepayment

     Section 3.01. Notice of Redemption; Selection of Securities. The Company will send
electronically or by first class mail notice of any redemption at least 30 days but not more than
60 days before the Redemption Date (as defined below) to each Holder of the Notes to be redeemed
setting forth the information to be stated in such notice as provided in Section 3.01 of the Base
Indenture. If less than all of the Notes are to be redeemed, the Notes to be redeemed shall be
selected by the Trustee on a pro rata basis, by lot or by such method the Trustee deems to be fair
and appropriate.

     Section 3.02. Notes Redeemed in Part. No Notes of $2,000 or less can be redeemed in part.

     Section 3.03. Optional Redemption. At any time prior to June 14, 2013, the Company may, on
any one or more occasions, redeem, in whole or in part, at a redemption price equal to the greater
of the following amounts, plus, in each case, accrued and unpaid interest, if any, on the principal
amount of the Notes being redeemed to, but excluding, the date of redemption or purchase
(“Redemption Date”) (subject to the right of the holders of record on the relevant record date to
receive interest due on the relevant interest payment date):

     (i) 100% of the aggregate principal amount of the Notes to be redeemed; or

     (ii) the sum of the present values of the Remaining Scheduled Payments due on such
Notes, discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year
consisting of twelve 30-day months) at the Treasury Rate plus 35 basis points, plus
accrued and unpaid interest thereon to the Redemption Date.

18

 

     Calculation of the foregoing shall be made by the Company or on the Company’s behalf by such
Person as the Company shall designate; provided, however, that such calculation shall not be a duty
or obligation of the Trustee.

     On and after the Redemption Date, interest will cease to accrue on the Notes or portions
thereof called for redemption as long as the Company has deposited with the Paying Agent funds in
satisfaction of the applicable redemption price.

     Section 3.04. Mandatory Redemption. The Company is not required to make any mandatory
redemption or sinking fund payments with respect to the Notes.

ARTICLE 4

Particular Covenants

     Section 4.01. Limitation on Liens. (a) The Company will not, and will not permit any of its
subsidiaries to create or incur any Lien on any of its Properties or Properties of its
subsidiaries, whether now owned or hereafter acquired, or upon any income or profits therefrom, in
order to secure any of its Indebtedness or that of any of its subsidiaries, without effectively
providing that the Notes shall be equally and ratably secured until such time as such Indebtedness
is no longer secured by such Lien, except:

     (i) Liens existing as of the issue date of the Notes;

     (ii) Liens granted after the issue date of the Notes created in favor of the Holders
of the Notes;

     (iii) Liens securing the Company’s Indebtedness or the Indebtedness of its
subsidiaries which are incurred to extend, renew or refinance Indebtedness which is
secured by Liens permitted to be incurred under the Indenture so long as such Liens are
limited to all or part of substantially the same Property which secured the Liens
extended, renewed or replaced and of Indebtedness secured is not increased (other than by
the amount equal to any costs and expenses (including any premiums, fees or penalties)
incurred in connection with any extension, renewal or refinancing); and

     (iv) Permitted Liens.

     (b) Notwithstanding Section 4.01(a), the Company and its subsidiaries may, without securing
any series of Notes, create or incur Liens which would otherwise be subject to the restrictions set
forth in Section 4.01(a), if after giving effect thereto, Aggregate Debt does not exceed 15% of
Consolidated Net Tangible Assets calculated as of the date of the creation or incurrence of the
Lien.

19

 

     Section 4.02. Limitation on Sale and Lease-Back Transactions. (a) The Company will not, and
will not permit any of its subsidiaries to, enter into any sale and lease-back transaction for the
sale and leasing back of any Property, whether now owned or hereafter acquired, unless:

     (i) such transaction was entered into prior to the issue date of the Notes;

     (ii) such transaction involves a lease for less than three years;

     (iii) the Company or such subsidiary would be entitled to incur Indebtedness secured
by a mortgage on the Property to be leased in an amount equal to the Attributable Liens
with respect to such sale and lease-back transaction without equally and ratably securing
the Notes pursuant to Section 4.01(a) above; or

     (iv) the Company applies an amount equal to the fair value of the Property sold to
the purchase of Property or to the retirement of its long-term Indebtedness within
270 days of the effective date of any such sale and lease-back transaction. In lieu of
applying such amount to such retirement, the Company may deliver the Notes or other
Securities to the trustee therefor for cancellation, such Notes or other Securities to be
credited at the cost thereof to the Company.

     (b) Notwithstanding Section 4.02(a), the Company or any of its subsidiaries may enter into
any sale and lease-back transaction which would otherwise be subject to the foregoing restrictions
if after giving effect thereto and at the time of determination, Aggregate Debt does not exceed 15%
of Consolidated Net Tangible Assets calculated as of the closing date of the sale and lease-back
transaction.

     Section 4.03. Offer to Purchase Upon Change of Control Triggering Event. (a) Upon the
occurrence of a Change of Control Triggering Event (the date of such occurrence, the “Change of
Control Date”), each Holder shall have the right to require the Company to purchase such Holder’s
Notes in whole or in part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) at
a purchase price (the “Change of Control Purchase Price”) equal to 101% of the principal amount of
such Notes, plus accrued and unpaid interest, if any, to, but excluding, the date of purchase (the
“Change of Control Purchase Date”), pursuant to and in accordance with the offer described in this
Section 4.03 (the “Change of Control Offer”).

     (b) Within 30 days following the Change of Control Date the Company shall send, electronically
or by first class mail, a notice to each Holder, with a copy to the Trustee, which notice shall
govern the terms of the Change of Control Offer. Such notice shall state:

20

 

     (i) that the Change of Control Offer is being made pursuant to this Section 4.03 and
that all Notes validly tendered will be accepted for payment;

     (ii) the Change of Control Purchase Price and the Change of Control Purchase Date,
which shall be a Business Day that is no earlier than 30 days nor later than 60 days from
the date such notice is sent (the “Change of Control Payment Date”) other than as may be
required by law;

     (iii) that any Note not tendered will continue to accrue interest;

     (iv) that any Note accepted for payment pursuant to the Change of Control Offer shall
cease to accrue interest after the Change of Control Payment Date unless the Company shall
default in the payment of the Change of Control Purchase Price of the Notes and the only
remaining right of the Holder is to receive payment of the Change of Control Purchase
Price upon surrender of the Notes to the Paying Agent;

     (v) that Holders electing to have a portion of a Note purchased pursuant to a Change
of Control Offer may only elect to have such Note purchased in an amount equal to $2,000
or an integral multiple of $1,000 in excess thereof;

     (vi) that if a Holder of a definitive Note elects to have a Note purchased pursuant
to the Change of Control Offer it will be required to surrender the Note, with the form
entitled “Option of Holder to Elect Purchase” on the reverse of the Note completed, or
Holders of Global Notes must transfer by book-entry transfer, to the Paying Agent at the
address specified in the notice prior to the close of business on the third Business Day
prior to the Change of Control Payment Date;

     (vii) that a Holder will be entitled to withdraw its election if the Company
receives, not later than the third Business Day preceding the Change of Control Payment
Date, a telegram, telex, facsimile transmission or letter setting forth the name of such
Holder, the principal amount of Notes such Holder delivered for purchase, and a statement
that such Holder is withdrawing its election to have such Note purchased; and

     (viii) that if Notes are purchased only in part a new Note of the same type will be
issued in principal amount equal to the unpurchased portion of the Notes surrendered.

     (c) On or before the Change of Control Payment Date, the Company shall, to the extent lawful,
accept for payment, all Notes or portions thereof validly tendered pursuant to the Change of
Control Offer, and shall deliver to the Trustee an Officer’s Certificate stating that such Notes or portions thereof were

21

 

accepted for
payment by the Company in accordance with the terms of this Section 4.03. The Company, the
Depositary or the Paying Agent, as the case may be, shall promptly mail or deliver to each
tendering Holder an amount equal to the purchase price of the Notes tendered by such Holder and
accepted by the Company for purchase, and, in the case of a definitive Note, the Company shall
promptly issue a new Note, and the Trustee, upon receipt of a Company Order, shall authenticate and
mail or deliver such new Note to such Holder, in a principal amount equal to any unpurchased
portion of the Note surrendered. Any Note not so accepted shall be promptly mailed or delivered by
the Company to the Holder thereof.

     (d) The Company shall comply with the requirements of Rule 14e-1 under the Exchange Act and
any other securities laws and regulations thereunder to the extent such laws and regulations are
applicable in connection with the repurchase of Notes pursuant to an offer hereunder. To the
extent the provisions of any securities laws or regulations conflict with the provisions under this
Section 4.03, the Company shall comply with the applicable securities laws and regulations and
shall not be deemed to have breached its obligations under this Section 4.03 by virtue thereof.

     (e) The Company shall not be required to make a Change of Control Offer if a third party makes
such an offer in the manner and at the times required and otherwise in compliance with the
requirements for such an offer made by the Company, and such third party purchases all notes
properly tendered and not withdrawn under its offer.

ARTICLE 5

Successors

     Section 5.01. Merger, Consolidation or Sale of Assets. The Notes shall not have the benefits
of Section 10.01 of the Base Indenture. The following Section 5.01 replaces Section 10.01 of the
Base Indenture in its entirety with respect to the Notes.

     The Company shall not merge or consolidate with any other Person or Persons (whether or not
affiliated with the Company) or sell, convey, transfer, lease or otherwise dispose of all or
substantially all of its property or assets to any other Person or Persons (whether or not
affiliated with the Company), unless:

     (i) either: (A) the transaction is a merger or consolidation and the Company is the
surviving entity; or (B) the successor Person (or the Person which acquires by sale,
conveyance, transfer or lease all or substantially all of the Company’s property or
assets) is a corporation organized under the laws of the United States, any state thereof
or the District of Columbia and expressly assumes, if required by law to

22

 

effectuate the assumption, by a supplemental indenture, all of the Company’s
obligations under the Notes and the Indenture;

     (ii) immediately after giving effect to the transaction and treating the Company’s
obligations in connection with or as a result of such transaction as having been incurred
as of the time of such transaction, no Event of Default (and no event or condition which,
after notice or lapse of time or both, would become an Event of Default) shall have
occurred and be continuing under the Indenture; and

     (iii) an Officer’s Certificate is delivered to the Trustee to the effect that both of
the conditions set forth in clauses (i) and (ii) above have been satisfied and an
Opinion of Counsel has been delivered to the Trustee to the effect that condition (i) set
forth above has been satisfied and/or that any conditions precedent in connection with
this Supplemental Indenture have been satisfied in accordance with the terms of the Base
Indenture.

     In the event of any of the above transactions, if there is a successor person as described in
paragraph (i)(B) immediately above, then the successor will expressly assume and be bound by all of
the Company’s obligations and duties under the Indenture and automatically be substituted for the
Company in the Indenture and as issuer of the Notes and may exercise every right and power of the
Company under the Indenture with the same effect as if such successor person had been named in the
Company’s place in the Indenture. Further, if the transaction is in the form of a sale or
conveyance, after any such transfer (except in the case of a lease), the Company will be discharged
from all obligations and covenants under the Indenture and all Notes issued thereunder.

ARTICLE 6

Miscellaneous

     Section 6.01. Trust Indenture Act Controls. If any provision of this Supplemental Indenture
limits, qualifies or conflicts with the duties imposed by TIA Section 318(c), the imposed duties
will control.

     Section 6.02. Governing Law. THE INTERNAL LAWS OF THE STATE OF NEW YORK WILL GOVERN AND BE
USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE AND THE NOTES WITHOUT GIVING EFFECT TO APPLICABLE
PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER
JURISDICTION WOULD BE REQUIRED THEREBY.

     Section 6.03. Successors. All agreements of the Company in this Supplemental Indenture and
the Notes will bind its successors. All agreements of the Trustee in this Supplemental Indenture
will bind its successors.

23

 

     Section 6.04. Severability. In case any provision in this Supplemental Indenture or in the
Notes will be invalid, illegal or unenforceable, the validity, legality and enforceability of the
remaining provisions will not in any way be affected or impaired thereby.

     Section 6.05. Counterpart Originals. The parties may sign any number of copies of this
Supplemental Indenture. Each signed copy will be an original, but all of them together represent
the same agreement. The exchange of copies of this Supplemental Indenture and of signature pages by
facsimile or PDF transmission shall constitute effective execution and delivery of this
Supplemental Indenture as to the parties hereto and may be used in lieu of the original
Supplemental Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile
or PDF shall be deemed to be their original signatures for all purposes.

     Section 6.06. Table of Contents, Headings, Etc. The Table of Contents and Headings of the
Articles and Sections of this Supplemental Indenture have been inserted for convenience of
reference only, are not to be considered a part of this Supplemental Indenture and will in no way
modify or restrict any of the terms or provisions hereof.

     Section 6.07. Validity or Sufficiency of Supplemental Indenture. The Trustee is not
responsible for the validity or sufficiency of this Supplemental Indenture, or for the recitals
contained herein.

     Section 6.08. Waiver of Jury Trial. EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY
WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN
ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR THE TRANSACTIONS
CONTEMPLATED HEREBY.

[Signatures on following page]

24

 

SIGNATURES

Dated as of June 17, 2010

	 	 	 	 	 
	 	MAXIM INTEGRATED PRODUCTS, INC.

 	 
	 	By:  	/s/ Bruce Kiddoo	 
	 	 	Name:  	Bruce Kiddoo	 
	 	 	Title:  	Senior Vice President, Chief Financial Officer and Principal Accounting Officer	 

	 	 	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION

as Trustee

 	 
	 	By:  	/s/ Lynn M. Steiner	 
	 	 	Name:  	Lynn M. Steiner 	 
	 	 	Title:  	Vice President 	 
	 

[SIGNATURE PAGE TO SUPPLEMENTAL INDENTURE]Exhibit 10.1

Exhibit 10.1

EXECUTION VERSION

AMENDMENT NO. 2

TO

AMENDED AND RESTATED EMPLOYMENT AGREEMENT

AMENDMENT (“Amendment”) made effective on June 16, 2010 (the “Effective Date”) to the amended
and restated employment agreement dated as of May 1, 2006, as amended (the “Employment Agreement”),
among Celgene Corporation, a Delaware corporation (the “Company”), and Sol. J. Barer (the
“Executive”).

WHEREAS, the Company and the Executive have previously entered into the Employment Agreement;
and

WHEREAS, the Company and the Executive desire to amend the Employment Agreement to appoint the
Executive as the Executive Chairman of the Board of Directors of the Company commencing immediately
after the Company’s 2010 annual meeting of stockholders on June 16, 2010.

NOW, THEREFORE, effective on the Effective Date, the Employment Agreement is hereby amended as
follows:

1. Section 1 is hereby amended in its entirety to read as follows:

“Term. The Company agrees to continue to employ Employee, and
Employee agrees to continue to serve, on the terms and conditions of
this Agreement for a period commencing on June 16, 2010, immediately
after the conclusion of the Company’s 2010 annual meeting of
stockholders (the ‘Effective Date’) and ending on December 31,
2010 (the ‘Transition Date’), or such other period as may be
provided for in Section 10. The period during which Employee is
employed hereunder is hereinafter referred to as the ‘Employment
Period.’ Effective after the Transition Date, Employee’s service
with the Company shall be governed by a Services Agreement with the
Company in substantially the same form as Exhibit A attached
hereto.”

2.
Section 2 is hereby amended in its entirety to read as follows:

	 	 	 	“Duties and Services. Effective on the Effective Date: (i)
Employee hereby resigns as Chief Executive Officer of the Company and
(ii) during the Employment Period and on and prior to the Transition
Date, Employee shall be employed in the business of the Company as the
Executive Chairman of the Board. Notwithstanding anything to the
contrary herein, upon Employee’s resignation as Chief Executive
Officer, Employee shall not be entitled to any severance payments or
benefits pursuant to Section 10 other than the Accrued Benefits.
Employee shall have such duties as set forth in Exhibit B
attached hereto. Employee agrees to continue his employment as
described in

 

 

 

	 	 	 	this Section 2 and agrees to devote all of his working time and
efforts to the performance of his duties under this Agreement,
excepting disabilities, illness and vacation time as provided by
Section 3(e). In performing his duties hereunder, Employee shall be
available for reasonable travel as the needs of the business require.
Except as provided in Section 6 hereof, the foregoing shall not be
construed as preventing Employee from: (i) making investments in other
businesses and managing his and his family’s personal investments; and
(ii) participating in charitable, civic, educational, professional,
community or industry affairs or serving on the board of directors of
other companies (‘Professional Activities’), provided that
these Professional Activities are approved by the Executive Committee
of the Board. It is intended that Employee’s change in status from
Chief Executive Officer to Executive Chairman shall not be a
“separation from service” within the meaning of Section 409A of the
Internal Revenue Code of 1986, as amended and the regulations
thereunder.”

	 
	 	3. Section 3(a) is hereby amended in its entirety to read as follows:

	 
	 	 	 	“As compensation for his services hereunder, the Company shall pay
Employee, during the Employment Period, a base salary payable in equal
semi-monthly installments at an annual rate of $1,140,000.”

	 	4. Section 3(b) is hereby amended in its entirety to read as follows:

	 
	 	 	 	“The Company shall also pay Employee, during the Employment Period, an
annual target bonus, payable in February of 2011 for the 2010
performance year, in an amount equal to one hundred and twenty percent
(120%) of Employee’s base salary (payable under Section 3(a) of this
Agreement) measured against objective criteria to be determined by the
Company’s Board, or a committee thereof, after good faith consultation
with Employee.”

5. Section 3 is hereby amended in its entirety to insert a new subsection (c) immediately
following subsection (b) (and subsections (c), (d), (e) and (f) of Section 3 and all
cross-references shall be renumbered accordingly) to read as follows:

	 	 	 	“With respect to the 2009-2011 and 2010-2012 performance cycles of the
Company’s Long-Term Incentive Plan (the ‘LTIP’), Employee
shall be eligible to receive a pro-rata portion of each LTIP award
(determined by multiplying the award by a fraction, the numerator of
which is the number of days during the applicable performance cycle of
the LTIP in which Employee is employed by the Company and the
denominator of which is 1095) based on actual achievement of the
performance targets under the LTIP (each, an ‘LTIP Award’),
provided that Employee is employed by the Company on the Transition
Date (but without regard to any requirement that Employee be employed
after such date). Each LTIP Award shall be paid in cash

 

2

 

	 	 	 	in a lump sum at the time each LTIP Award is paid to other
participants in the LTIP, which shall be in calendar year 2012 for the
2009-2011 LTIP and in calendar year 2013 for the 2010-2012 LTIP;
provided, however, that each LTIP Award may be paid in stock if: (i)
it is so determined by the Compensation Committee of the Board in its
sole discretion and in accordance with the LTIP and (ii) with respect
to the applicable LTIP performance cycle, all other LTIP participants’
awards are paid in stock.”

6. Section 3(d) is hereby amended by adding the following after the end of the first sentence
thereof:

	 	 	 	“For the avoidance of doubt, Employee shall receive the standard
quarterly stock option grants from Employee’s 2010 equity allocation
in July and October of the Employment Period.”

7. Sections 10(b)(i), (ii) and (iii) are hereby amended in their entirety to read as follows:

“(i) failure to elect or appoint, or reelect or reappoint, Employee
to, or removal of Employee from, his position with the Company as
Executive Chairman of the Board, except in connection with the
termination of Employee’s employment pursuant to Section 10(a);

(ii) a significant change in the nature or scope of the authorities,
powers, functions, duties or responsibilities normally attached to
Employee’s position as Executive Chairman of the Board, except in each
case in connection with the termination of Employee’s employment for
Cause or as a result of Employee’s death, or temporarily as a result
of Employee’s illness or other absence;

(iii) a determination by Employee made in good faith that, as a result
of a Change in Control, he is unable effectively to carry out the
authorities, powers, functions, duties or responsibilities attached to
his position as Executive Chairman of the Board and the situation is
not remedied within 30 calendar days after receipt by the Company of
written notice from Employee of such determination;”

8. Except as amended hereby and expressly provided herein, the Employment Agreement shall
remain in full force and effect.

 

3

 

IN WITNESS WHEREOF, the undersigned has caused this Amendment to be executed this
28th day of April, 2010.

	 	 	 	 	 
	 	EXECUTIVE

 	 
	 	/s/  Sol J. Barer
 	 
	 	Sol J. Barer 	 
	 
	 
	 	CELGENE CORPORATION 	 
	 	 	 
	 	By:  	                       /s/  Robert J. Hugin
 	 
	 	 	Name:  	Robert J. Hugin 	 
	 	 	Title:  	Chief Operating Officer and President 	 

 

4

 

EXECUTION VERSION

EXHIBIT A

SERVICES AGREEMENT

 

 

 

EXECUTION VERSION

EXHIBIT B

EXECUTIVE CHAIRMAN DUTIES

During the Employment Period, as Executive Chairman of the Board, Employee shall oversee corporate
governance including the structure, activities and meetings of the Board and perform such other
duties and services for the Company as may be designated from time to time by the Board including,
without limitation, the following:

	•	 	Aiding in the executive management transition;

	 
	•	 	Advising and working closely with the Chief Executive Officer of the Company and senior
management concerning the activities of the Company including overall strategy, corporate
development, research and development, regulatory programs and other initiatives including,
without limitation, the following:

	 	•	 	working with various R&D constituencies to maximize strategic and organizational
effectiveness; and

	 
	 	•	 	working with potential corporate partners for licensing, development and
commercialization of products or technologies;

	•	 	Upon request and, as appropriate, sitting on boards representing the Company; and

	 
	•	 	Providing advice and input into material agreements and arrangements to be entered into or
amended by the Company including, for example, agreements related to the acquisition of
intellectual property, strategic alliances or corporate collaborations, the licensing of
intellectual property and other material acquisitions or dispositions.

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