Document:

exv4w5

 

EXHIBIT
4.5

LIBERTY GLOBAL, INC.,

Issuer

to

                                                                                ,

Trustee

 

INDENTURE

 

Dated as of                     , 2005

Subordinated Debt Securities

 

 

Reconciliation and tie between

Trust Indenture Act of 1939 (the “Trust Indenture Act”)

and Indenture

	 	 	 
	Trust Indenture Act Section	 	Indenture Section
	 
	§310(a)(1)

(a)(2)

(b)

§312(a)

(b)

(c)

§313(a)

(b)(2)

(c)

(d)

§314(a)

(c)(1)

(c)(2)

(e)

(f)

§315(a)

(c)

(d)

§316(a) (last sentence)

(a)(1)(A)

(a)(1)(B)

(b)

§317(a)(1)

(a)(2)

(b)

§318(a)

	 	607

607

608

701

702

702

703

703

703

703

704

102

102

102

102

612

612

612

101

502, 512

513

508

503

504

1003

108

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

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 	 	 
	ARTICLE ONE Definitions and Other Provisions of General Application	 	 	1	 
	 
	 	 	 	 	 	 	 	 
	 

	 	Section 101
	 	Definitions; Rules of Construction
	 	 	1	 
	 

	 	Section 102
	 	Compliance Certificates and Opinions
	 	 	10	 
	 

	 	Section 103
	 	Form of Documents Delivered to Trustee
	 	 	10	 
	 

	 	Section 104
	 	Acts of Holders
	 	 	11	 
	 

	 	Section 105
	 	Notices, etc., to Trustee and Company
	 	 	14	 
	 

	 	Section 106
	 	Notice to Holders of Securities; Waiver
	 	 	14	 
	 

	 	Section 107
	 	Language of Notices
	 	 	15	 
	 

	 	Section 108
	 	Conflict with Trust Indenture Act
	 	 	15	 
	 

	 	Section 109
	 	Effect of Headings and Table of Contents
	 	 	15	 
	 

	 	Section 110
	 	Successors and Assigns
	 	 	15	 
	 

	 	Section 111
	 	Separability Clause
	 	 	15	 
	 

	 	Section 112
	 	Benefits of Indenture
	 	 	16	 
	 

	 	Section 113
	 	Governing Law
	 	 	16	 
	 

	 	Section 114
	 	Legal Holidays
	 	 	16	 
	 

	 	Section 115
	 	Counterparts
	 	 	16	 
	 

	 	Section 116
	 	Judgment Currency
	 	 	16	 
	 

	 	Section 117
	 	No Security Interest Created
	 	 	17	 
	 

	 	Section 118
	 	Limitation on Individual Liability
	 	 	17	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE TWO Securities Forms	 	 	17	 
	 
	 	 	 	 	 	 	 	 
	 

	 	Section 201
	 	Forms Generally
	 	 	17	 
	 

	 	Section 202
	 	Form of Trustee’s Certificate of Authentication
	 	 	18	 
	 

	 	Section 203
	 	Securities in Global Form
	 	 	18	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE THREE The Securities	 	 	19	 
	 
	 	 	 	 	 	 	 	 
	 

	 	Section 301
	 	Amount Unlimited; Issuable in Series
	 	 	19	 
	 

	 	Section 302
	 	Currency; Denominations
	 	 	23	 
	 

	 	Section 303
	 	Execution, Authentication, Delivery and Dating
	 	 	23	 
	 

	 	Section 304
	 	Temporary Securities
	 	 	25	 
	 

	 	Section 305
	 	Registration, Transfer and Exchange
	 	 	25	 
	 

	 	Section 306
	 	Mutilated, Destroyed, Lost and Stolen Securities
	 	 	29	 
	 

	 	Section 307
	 	Payment of Interest and Certain Additional Amounts; Rights to Interest and Certain	 	 	 	 
	 

	 	 	 	Additional Amounts Preserved
	 	 	30	 

i

 

	 	 	 	 	 	 	 	 	 
	 

	 	Section 308
	 	Persons Deemed Owners
	 	 	32	 
	 

	 	Section 309
	 	Cancellation
	 	 	32	 
	 

	 	Section 310
	 	Computation of Interest
	 	 	33	 
	 

	 	Section 311
	 	CUSIP Numbers
	 	 	33	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE FOUR Satisfaction and Discharge of Indenture	 	 	33	 
	 
	 	 	 	 	 	 	 	 
	 

	 	Section 401
	 	Satisfaction and Discharge
	 	 	33	 
	 

	 	Section 402
	 	Defeasance and Covenant Defeasance
	 	 	34	 
	 

	 	Section 403
	 	Application of Trust Money
	 	 	39	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE FIVE Events of Default and Remedies	 	 	39	 
	 
	 	 	 	 	 	 	 	 
	 

	 	Section 501
	 	Events of Default
	 	 	39	 
	 

	 	Section 502
	 	Acceleration of Maturity; Rescission and Annulment
	 	 	41	 
	 

	 	Section 503
	 	Collection of Indebtedness and Suits for Enforcement by Trustee
	 	 	42	 
	 

	 	Section 504
	 	Trustee May File Proofs of Claim
	 	 	43	 
	 

	 	Section 505
	 	Trustee May Enforce Claims without Possession of Securities or Coupons
	 	 	44	 
	 

	 	Section 506
	 	Application of Money Collected
	 	 	44	 
	 

	 	Section 507
	 	Limitations on Suits
	 	 	44	 
	 

	 	Section 508
	 	Unconditional Right of Holders to Receive Principal and any Premium, Interest and
Additional Amounts, and to Convert or Exchange
	 	 	45	 
	 

	 	Section 509
	 	Restoration of Rights and Remedies
	 	 	45	 
	 

	 	Section 510
	 	Rights and Remedies Cumulative
	 	 	45	 
	 

	 	Section 511
	 	Delay or Omission Not Waiver
	 	 	46	 
	 

	 	Section 512
	 	Control by Holders of Securities
	 	 	46	 
	 

	 	Section 513
	 	Waiver of Past Defaults
	 	 	46	 
	 

	 	Section 514
	 	Waiver of Stay or Extension Laws
	 	 	47	 
	 

	 	Section 515
	 	Undertaking for Costs
	 	 	47	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE SIX The Trustee	 	 	47	 
	 
	 	 	 	 	 	 	 	 
	 

	 	Section 601
	 	Certain Rights of Trustee
	 	 	47	 
	 

	 	Section 602
	 	Notice of Defaults
	 	 	49	 
	 

	 	Section 603
	 	Not Responsible for Recitals or Issuance of Securities
	 	 	49	 
	 

	 	Section 604
	 	May Hold Securities
	 	 	49	 
	 

	 	Section 605
	 	Money Held in Trust
	 	 	50	 
	 

	 	Section 606
	 	Compensation and Reimbursement
	 	 	50	 
	 

	 	Section 607
	 	Corporate Trustee Required; Eligibility
	 	 	51	 
	 

	 	Section 608
	 	Resignation and Removal; Appointment of Successor
	 	 	51	 

ii

 

	 	 	 	 	 	 	 	 	 
	 

	 	Section 609
	 	Acceptance of Appointment by Successor
	 	 	53	 
	 

	 	Section 610
	 	Merger, Conversion, Consolidation or Succession to Business
	 	 	54	 
	 

	 	Section 611
	 	Appointment of Authenticating Agent
	 	 	54	 
	 

	 	Section 612
	 	Certain Duties and Responsibilities
	 	 	56	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE SEVEN Holders Lists and Reports by Trustee and Company	 	 	57	 
	 
	 	 	 	 	 	 	 	 
	 

	 	Section 701
	 	Company to Furnish Trustee Names and Addresses of Holders
	 	 	57	 
	 

	 	Section 702
	 	Preservation of Information; Communications to Holders
	 	 	57	 
	 

	 	Section 703
	 	Reports by Trustee
	 	 	57	 
	 

	 	Section 704
	 	Reports by Company
	 	 	58	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE EIGHT Consolidation, Merger and Sales	 	 	58	 
	 
	 	 	 	 	 	 	 	 
	 

	 	Section 801
	 	Company May Consolidate, Etc., Only on Certain Terms
	 	 	58	 
	 

	 	Section 802
	 	Successor Person Substituted for Company
	 	 	59	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE NINE Supplemental Indentures	 	 	59	 
	 
	 	 	 	 	 	 	 	 
	 

	 	Section 901
	 	Supplemental Indentures without Consent of Holders
	 	 	59	 
	 

	 	Section 902
	 	Supplemental Indentures With Consent of Holders
	 	 	60	 
	 

	 	Section 903
	 	Execution of Supplemental Indentures
	 	 	62	 
	 

	 	Section 904
	 	Effect of Supplemental Indentures
	 	 	62	 
	 

	 	Section 905
	 	Reference in Securities to Supplemental Indentures
	 	 	62	 
	 

	 	Section 906
	 	Conformity with Trust Indenture Act
	 	 	62	 
	 

	 	Section 907
	 	Notice of Supplemental Indenture
	 	 	62	 
	 

	 	Section 908
	 	Subordination Unimpaired
	 	 	62	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE TEN Covenants	 	 	63	 
	 
	 	 	 	 	 	 	 	 
	 

	 	Section 1001
	 	Payment of Principal, any Premium, Interest and Additional Amounts
	 	 	63	 
	 

	 	Section 1002
	 	Maintenance of Office or Agency
	 	 	63	 
	 

	 	Section 1003
	 	Money for Securities Payments to Be Held in Trust
	 	 	64	 
	 

	 	Section 1004
	 	Additional Amounts
	 	 	66	 
	 

	 	Section 1005
	 	Legal Existence
	 	 	66	 
	 

	 	Section 1006
	 	Waiver of Certain Covenants
	 	 	67	 
	 

	 	Section 1007
	 	Company Statement as to Compliance; Notice of Certain Defaults
	 	 	67	 
	 

	 	Section 1008
	 	Calculation of Original Issue Discount
	 	 	67	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE ELEVEN Redemption of Securities	 	 	68	 
	 
	 	 	 	 	 	 	 	 
	 

	 	Section 1101
	 	Applicability of Article
	 	 	68	 
	 

	 	Section 1102
	 	Election to Redeem; Notice to Trustee
	 	 	68	 

iii

 

	 	 	 	 	 	 	 	 	 
	 

	 	Section 1103
	 	Selection by Trustee of Securities to be Redeemed
	 	 	68	 
	 

	 	Section 1104
	 	Notice of Redemption
	 	 	69	 
	 

	 	Section 1105
	 	Deposit of Redemption Price
	 	 	70	 
	 

	 	Section 1106
	 	Securities Payable on Redemption Date
	 	 	70	 
	 

	 	Section 1107
	 	Securities Redeemed in Part
	 	 	71	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE TWELVE Sinking Funds	 	 	72	 
	 
	 	 	 	 	 	 	 	 
	 

	 	Section 1201
	 	Applicability of Article
	 	 	72	 
	 

	 	Section 1202
	 	Satisfaction of Sinking Fund Payments with Securities
	 	 	72	 
	 

	 	Section 1203
	 	Redemption of Securities for Sinking Fund
	 	 	72	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE THIRTEEN Repayment at the Option of Holders	 	 	73	 
	 
	 	 	 	 	 	 	 	 
	 

	 	Section 1301
	 	Applicability of Article
	 	 	73	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE FOURTEEN Securities in Foreign Currencies	 	 	73	 
	 
	 	 	 	 	 	 	 	 
	 

	 	Section 1401
	 	Applicability of Article
	 	 	73	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE FIFTEEN Meetings of Holders of Securities	 	 	74	 
	 
	 	 	 	 	 	 	 	 
	 

	 	Section 1501
	 	Purposes for Which Meetings May Be Called
	 	 	74	 
	 

	 	Section 1502
	 	Call, Notice and Place of Meetings
	 	 	74	 
	 

	 	Section 1503
	 	Persons Entitled to Vote at Meetings
	 	 	74	 
	 

	 	Section 1504
	 	Quorum; Action
	 	 	75	 
	 

	 	Section 1505
	 	Determination of Voting Rights; Conduct and Adjournment of Meetings
	 	 	76	 
	 

	 	Section 1506
	 	Counting Votes and Recording Action of Meetings
	 	 	76	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE SIXTEEN Subordination	 	 	77	 
	 
	 	 	 	 	 	 	 	 
	 

	 	Section 1601
	 	Securities Subordinate to Senior Debt
	 	 	77	 
	 

	 	Section 1602
	 	Payment Over of Proceeds Upon Dissolution, Etc.
	 	 	77	 
	 

	 	Section 1603
	 	Prior Payment to Senior Debt Upon Acceleration of Securities
	 	 	78	 
	 

	 	Section 1604
	 	No Payment when Senior Debt in Default
	 	 	79	 
	 

	 	Section 1605
	 	Payment Permitted if no Default
	 	 	79	 
	 

	 	Section 1606
	 	Subrogation to Rights of Holders of Senior Debt
	 	 	79	 
	 

	 	Section 1607
	 	Provisions Solely to Define Relative Rights
	 	 	80	 
	 

	 	Section 1608
	 	Trustee to Effectuate Subordination
	 	 	80	 
	 

	 	Section 1609
	 	No Waiver of Subordination Provisions
	 	 	80	 
	 

	 	Section 1610
	 	Notice to Trustee
	 	 	81	 
	 

	 	Section 1611
	 	Reliance on Judicial Order or Certificate of Liquidating Agent
	 	 	81	 
	 

	 	Section 1612
	 	Trustee Not a Fiduciary for Holders of Senior Debt
	 	 	81	 

iv

 

	 	 	 	 	 	 	 	 	 
	 

	 	Section 1613
	 	Right of Trustee as Holder of Senior Debt; Preservation of Trustee’s Rights
	 	 	81	 
	 

	 	Section 1614
	 	Article Applicable to Paying Agents
	 	 	82	 
	 

	 	Section 1615
	 	Certain Conversions and Exchanges Deemed Payment
	 	 	82	 
	 

	 	Section 1616
	 	Obligations of the Company Unconditional and Right to Convert or Exchange Unimpaired
	 	 	82	 

v

 

     INDENTURE, dated as of                     , 2005 (this “Indenture”), among LIBERTY GLOBAL, INC.,
a corporation duly organized and existing under the laws of Delaware (hereinafter called the
“Company”), having its principal executive office located at 4643 S. Ulster Street, Suite 1300,
Denver, Colorado 80237, and                     , a                     , as trustee (hereinafter
called the “Trustee”), having its [Corporate Trust Office] located at                     , New
York, New York ___.

RECITALS

     The Company has duly authorized the execution and delivery of this Indenture to provide for
the issuance from time to time of its subordinated unsecured debentures, notes, bonds or other
evidences of indebtedness (hereinafter called the “Securities”), unlimited as to aggregate
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
herein 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 herein
defined) as follows:

ARTICLE ONE

Definitions and Other Provisions of General Application

Section 101 Definitions; Rules of Construction

     Except as otherwise expressly provided in or pursuant to this Indenture or unless the context
otherwise requires, for all purposes of this Indenture:

     (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 otherwise

1

 

herein expressly provided, the terms “generally accepted accounting principles” or “GAAP” with
respect to any computation required or permitted hereunder shall mean such accounting principles as
are generally accepted at the date or time of such computation;

     (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”);

     (6) provisions apply to successive events and transactions;

     (7) the masculine gender includes the feminine and the neuter; and

     (8) references to agreements and other instruments include subsequent amendments thereto.

     Certain terms used principally in certain Articles hereof are defined in those Articles.

     “Act”, when used with respect to any Holders, 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, assessments or other governmental charges 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 of voting securities, by contract or otherwise; and the terms “controlling”
and “controlled” have the meanings correlative to the foregoing.

     “Authenticating Agent” means any Person authorized by the Trustee pursuant to Section 611 to
act on behalf of the Trustee to authenticate Securities of one or more series.

     “Authorized Newspaper” means a newspaper, in an official language of the place of publication
or in the English language, customarily published on each day that is a Business Day in the place
of publication, whether or not published on days that are Legal Holidays in the place of
publication, and of general circulation in each place in connection with which the term is used or
in the financial community of each such place. Where successive publications are required to be
made in Authorized Newspapers, the successive publications may be made in the same or in different
newspapers in the same city meeting the foregoing requirements and in each case on any day that is
a Business Day in the place of publication.

     “Bearer Security” means any Security in the form established pursuant to Section 201 which is
payable to bearer.

2

 

     “Board of Directors” means the board of directors of the Company or any committee of that
board duly authorized to act generally or in any particular respect for the Company hereunder, or,
if the Company is not a corporation, the equivalent decision-making body of the Company or any
authorized committee of such decision-making body.

     “Board Resolution” means a copy of one or more resolutions, 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, delivered to the Trustee.

     “Business Day”, with respect to any Place of Payment or other location, means, unless
otherwise specified with respect to any Securities pursuant to Section 301, any day other than a
Saturday, Sunday or other day on which banking institutions in such Place of Payment or other
location are authorized or obligated by law, regulation or executive order to close.

     “Commission” means the Securities and Exchange Commission, as from time to time constituted,
created under the Exchange Act.

     “Common Stock” includes any stock of any class or series of the Company which has no
preference in respect of dividends or of amounts payable in the event of any voluntary or
involuntary liquidation, dissolution or winding up of the Company.

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

     “Company Request” and “Company Order” mean, respectively, a written request or order, as the
case may be, signed in the name of the Company by its Chairman of the Board (if any), a Vice
Chairman (if any), its President or a Vice President, and by its principal financial officer, its
Treasurer, an Assistant Treasurer, its Secretary or an Assistant Secretary, and delivered to the
Trustee.

     “Conversion Event” means the cessation of use of (i) a Foreign Currency both by the government
of the country or the confederation which issued such Foreign Currency and for the settlement of
transactions by a central bank or other public institutions of or within the international banking
community or (ii) any currency unit or composite currency for the purposes for which it was
established.

     “Corporate Trust Office” means the principal corporate trust office of the Trustee at which at
any particular time its corporate trust business shall be administered, which office at the date of
original execution of this Indenture is located at                     , New York, New York ___.

     “Coupon” means any interest coupon appertaining to a Bearer Security.

     “Currency”, 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
Dollars or the Foreign Currency, as the case may be, in which such payment, deposit or other
transfer is required to be made by or pursuant to the terms hereof or such

3

 

Security and, with respect to any other payment, deposit or transfer pursuant to or
contemplated by the terms hereof or such Security, means Dollars.

     “CUSIP number” means the alphanumeric designation assigned to a Security by Standard & Poor’s
Corporation, CUSIP Service Bureau.

     “Defaulted Interest” has the meaning specified in Section 307.

     “Dollars” or “$” means a dollar or other equivalent unit of legal tender for payment of public
or private debts in the United States of America.

     “Entity” includes a corporation, a limited liability company and, except for purposes of
Article Eight, an association, a company (other than a limited liability company), a joint stock
company and a business trust.

     “Event of Default” has the meaning specified in Section 501.

     “Exchange Act” means the Securities Exchange Act of 1934, as amended, or any successor
thereto, in each case as amended from time to time.

     “Expiration Date” has the meaning specified in Section 104(7).

     “Foreign Currency” means any currency, currency unit or composite currency, including, without
limitation, the euro, issued by the government of one or more countries other than the United
States of America or by any recognized confederation or association of such governments.

     “GAAP” means such accounting principles as are generally accepted in the United States of
America as of the date or time of any computation required hereunder.

     “Government Obligations” means securities which are (i) direct obligations of the United
States of America or the other government or governments in the confederation which issued the
Foreign Currency in which the principal of or any premium or interest on any 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 the United States or such government or
governments or (ii) obligations of a Person controlled or supervised by and acting as an agency or
instrumentality of the United States of America or such other government or governments, in each
case where the timely payment or payments thereunder are unconditionally guaranteed as a full faith
and credit obligation by the United States of America or such other 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 prior to the final Stated Maturity of the Securities of any series and any Coupons
appertaining thereto as to which such Government Obligations are deposited with the Trustee
pursuant to Section 401 or Section 402 hereof, 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

4

 

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”, in the case of any Registered Security, means the Person in whose name such Security
is registered in the Security Register and, in the case of any Bearer Security, means the bearer
thereof and, in the case of any Coupon, means the bearer thereof.

     “Indenture” means this instrument 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 pursuant to Section 301 (as such terms and provisions may
be supplemented or amended pursuant to the applicable provisions hereof); provided, however, that,
if at any time more than one Person is acting as Trustee under this instrument, “Indenture” shall
mean, with respect to any one or more series of Securities for which such Person is Trustee, 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 shall include the terms of those particular series of Securities for which such Person is
Trustee established pursuant to Section 301, exclusive, however, of any provisions or terms which
relate solely to other series of Securities for which such Person is not Trustee, regardless of
when such terms or provisions were adopted.

     “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”, with respect to any Original Issue Discount Security which by its terms bears
interest only after Maturity, means interest payable after Maturity and, when used with respect to
a Security which provides for the payment of Additional Amounts pursuant to Section 1004, includes
such Additional Amounts.

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

     “Judgment Currency” has the meaning specified in Section 116.

     “Legal Holidays” has the meaning specified in Section 114.

     “Maturity”, 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 provided in or pursuant to this
Indenture, whether at the Stated Maturity or by declaration of acceleration, notice of redemption
or repurchase, notice of option to elect repayment or otherwise, and includes the Redemption Date.

     “New York Banking Day” has the meaning specified in Section 116.

     “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

5

 

1002 or 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 by the Company’s Chairman of the Board (if
any), a Vice Chairman (if any), its President or a Vice President, and by its principal financial
officer, its Treasurer, an Assistant Treasurer, its Secretary or an Assistant Secretary, that, if
applicable, 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, if
required by the Trust Indenture Act, complies with the requirements of Section 314(e) of the Trust
Indenture Act.

     “Original Issue Discount Security” means a Security issued pursuant to this Indenture which
provides, at any time prior to the final Stated Maturity of such Security, for declaration of an
amount less than the principal face amount thereof to be due and payable upon acceleration pursuant
to Section 502.

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

     (a) any such Security theretofore cancelled by the Trustee or the Security Registrar or
delivered to the Trustee or the Security Registrar for cancellation;

     (b) any such Security for whose payment at the Maturity thereof money in the necessary
amount has been theretofore deposited pursuant hereto (other than pursuant to Section 402)
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 and any Coupons appertaining thereto, provided that, if such
Securities are to be redeemed, notice of such redemption has been duly given pursuant to
this Indenture or provision therefor satisfactory to the Trustee has been made; and
provided, further, that the Trustee or Paying Agent or the Company (if it is acting as its
own Paying Agent) is not restricted in applying such money by Article Sixteen (in which case
such Securities shall be deemed to be Outstanding);

     (c) any such Security with respect to which the Company has effected defeasance or
covenant defeasance pursuant to the terms hereof, except to the extent provided in Section
402;

     (d) any such Security which has 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, unless there shall have been presented to the Trustee proof satisfactory to it
that such Security is held by a bona fide purchaser in whose hands such Security is a valid
obligation of the Company; and

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     (e) any such Security converted or exchanged as contemplated by this Indenture into
Common Stock or other Stock, securities, cash or other property, if the terms of such
Security provide for such conversion or exchange pursuant to Section 301;

provided, however, that in determining whether the Holders of the requisite principal amount of
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, (i) the
principal amount of an Original Issue Discount Security that may be counted in making such
determination and that shall be deemed to be Outstanding for such purposes shall be equal to the
amount of the principal thereof that pursuant to the terms of such Original Issue Discount Security
would be declared (or shall have been declared to be) due and payable upon a declaration of
acceleration thereof pursuant to Section 502 at the time of such determination, and (ii) 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 (iii) the principal amount of a Security denominated in a Foreign Currency shall be the Dollar
equivalent, determined on the date of original issuance of such Security, of the principal amount
(or, in the case of an Original Issue Discount Security, the Dollar equivalent on the date of
original issuance of such Security of the amount determined as provided in (i) above) of such
Security, and (iv) Securities owned by the Company or any other obligor upon the Securities or any
Affiliate of the Company or such other obligor, shall be disregarded and deemed not to be
Outstanding, except that, in determining whether the Trustee shall be protected in making any such
determination or relying upon any such request, demand, authorization, direction, notice, consent
or waiver, only Securities which a Responsible Officer of the Trustee actually knows to be so owned
shall be so disregarded. Securities so owned which shall have been pledged in good faith may be
regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee (A) the
pledgee’s right so to act with respect to such Securities and (B) that the pledgee is not the
Company or any other obligor upon the Securities or any Coupons appertaining thereto or an
Affiliate of the Company or such other obligor.

     “Paying Agent” means any Person authorized by the Company to pay the principal of, or any
premium or interest on, or any Additional Amounts with respect to, any Security or any Coupon on
behalf of the Company.

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

     “Place of Payment”, with respect to any Security, means the place or places where the
principal of, or any premium or interest on, or any Additional Amounts with respect to such
Security are payable as provided in or pursuant to this Indenture or such Security.

     “Predecessor Security” of any particular Security means every previous Security evidencing all
or a portion of the same indebtedness 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 lost, destroyed, mutilated or stolen Security or any Security to which a
mutilated, destroyed, lost or stolen Coupon appertains shall be deemed to

7

 

evidence the same indebtedness as the lost, destroyed, mutilated or stolen Security or the
Security to which a mutilated, destroyed, lost or stolen Coupon appertains.

     “Redemption Date”, with respect to any Security or portion thereof to be redeemed, means each
date fixed for such redemption by or pursuant to this Indenture or such Security.

     “Redemption Price”, with respect to any Security or portion thereof to be redeemed, means the
price at which it is to be redeemed as determined by or pursuant to this Indenture or such
Security.

     “Registered Security” means any Security established pursuant to Section 201 which is
registered in the Security Register.

     “Regular Record Date” for the interest payable on any Registered Security on any Interest
Payment Date therefor means the date, if any, specified in or pursuant to this Indenture or such
Security as the “Regular Record Date”.

     “Required Currency” has the meaning specified in Section 116.

     “Responsible Officer” means any officer of the Trustee in its Corporate Trust Office and also
means, with respect to a particular corporate trust matter, any other officer of the Trustee to
whom such matter is referred because of his knowledge of and familiarity with the particular
subject.

     “Security” or “Securities” means any note or notes, bond or bonds, debenture or debentures, or
any other evidences of indebtedness, as the case may be, 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”, with respect to any such Person, 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.

     “Senior Debt” means, with respect to the Company, all amounts due on obligations in connection
with any of the following, whether outstanding at the date of execution of this Indenture or
thereafter incurred or created, (i) the principal of or any premium, interest and additional
amounts in respect of (A) indebtedness of the Company for money borrowed and (B) indebtedness
evidenced by securities, debentures, bonds or other similar instruments issued by the Company
(other than the Securities); (ii) all capital lease obligations of the Company; (iii) all
obligations of the Company issued or assumed as the deferred purchase price of property, all
conditional sale obligations of the Company and all obligations of the Company under any title
retention agreement (but excluding trade accounts payable arising in the ordinary course of
business); (iv) all obligations of the Company for the reimbursement of any letter of credit,
banker’s acceptance, security purchase facility or similar credit transaction; (v) all obligations
of the Company in respect of interest rate swap, cap or other agreements, interest rate future or
options contracts, currency swap arrangements, currency future or option contracts and other
similar agreements; (vi) all obligations of the types referred to in clauses (i) through (v) above
of

8

 

other Persons for the payment of which the Company is responsible or liable as obligor,
guarantor or otherwise; and (vii) all obligations of the types referred to in clauses (i) through
(vi) above of other persons secured by any lien on any property or asset of the Company (whether or
not such obligation is assumed by the Company); provided, that, “Senior Debt” shall not include (1)
indebtedness or monetary obligations to trade creditors created or assumed by the Company in the
ordinary course of business in connection with the obtaining of equipment, materials or services;
(2) indebtedness that is by its terms subordinated to or ranks equal with the Securities; or (3)
any indebtedness of the Company to its Affiliates unless otherwise expressly provided in the terms
of any such indebtedness.

     “Special Record Date” for the payment of any Defaulted Interest on any Registered Security
means a date fixed by the Trustee pursuant to Section 307.

     “Stated Maturity”, with respect to any Security or any installment of principal thereof or
interest thereon or any Additional Amounts with respect thereto, means the date established by or
pursuant to this Indenture or 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.

     “Stock” means any stock of any class or series of the Company.

     “Subsidiary” means any corporation, association, limited liability company, partnership or
other business entity of which a majority of the total voting power of the capital stock or other
interests (including partnership interests) entitled (without regard to the incurrence of a
contingency) to vote in the election of directors, managers, or trustees thereof is at the time
owned, directly or indirectly, by (i) the Company, (ii) the Company and one or more of its
Subsidiaries or (iii) one or more Subsidiaries of the Company.

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

     “Trustee” means the Person named as the “Trustee” in the first paragraph of this instrument
until a successor Trustee shall have become such with respect to one or more series of Securities
pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean each
Person who is then a Trustee hereunder; provided, however, that 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 the Securities of such series.

     “United States”, except as otherwise provided in or pursuant to this Indenture or 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 or any
Security, 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

9

 

income tax purposes, a foreign corporation, a non-resident alien individual or a non-resident
alien fiduciary of a foreign estate or trust.

     “U.S. Depository” or “Depository” means, with respect to any Security issuable or issued in
the form of one or more global Securities, the Person designated as U.S. Depository or Depository
by the Company in or pursuant to this Indenture, which Person must be, to the extent required by
applicable law or regulation, a clearing agency registered under the Exchange Act and, if so
provided with respect to any Security, any successor to such Person. If at any time there is more
than one such Person, “U.S. Depository” or “Depository” shall mean, with respect to any Securities,
the qualifying entity which has been appointed with respect to such Securities.

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

Section 102 Compliance Certificates and Opinions

     Except as otherwise expressly provided in or pursuant to this Indenture, upon any application
or request by the Company to the Trustee to take any action under any provision of this Indenture,
the Company shall furnish to the Trustee 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
application or 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 application or request, no
additional certificate or opinion need be furnished.

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

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

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

     (3) a statement that, in the opinion of each such individual, he has made such examination or
investigation as is necessary to enable him to express an informed opinion as to whether or not
such condition or covenant has been complied with; and

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

Section 103 Form of Documents Delivered to Trustee

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

10

 

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 an Opinion of Counsel, unless such officer knows, or in the exercise of
reasonable care should know, that the opinion with respect to the matters upon which his
certificate or opinion is based are erroneous. Any such 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

     (1) Any request, demand, authorization, direction, notice, consent, waiver or other action
provided by or pursuant to 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 in or pursuant to 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 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 Depository 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 Act provided in or pursuant to this
Indenture or the Securities to be made, given or taken by Holders, and a Depository that is a
Holder of a global Security may provide its proxy or proxies to the beneficial owners of interests

11

 

in any such global Security through such Depository’s standing instructions and customary
practices.

     (2) The fact and date of the execution by any Person of any such instrument or writing
referred to in this Section 104 may be proved in any reasonable manner which the Trustee deems
sufficient and in accordance with such reasonable rules as the Trustee may determine; and the
Trustee may in any instance require further proof with respect to any of the matters referred to in
this Section.

     (3) The ownership, principal amount and serial numbers of Registered Securities held by any
Person, and the date of the commencement and the date of the termination of holding the same, shall
be proved by the Security Register.

     (4) The ownership, principal amount and serial numbers of Bearer Securities held by any
Person, and the date of the commencement and the date of the termination of holding the same, may
be proved by the production of such Bearer Securities or by a certificate executed, as depositary,
by any trust company, bank, banker or other depositary reasonably acceptable to the Company,
wherever situated, if such certificate shall be deemed by the Company and 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. The ownership, principal amount and serial numbers of Bearer Securities held by the
Person so executing such instrument or writing and the date of the commencement and the date of the
termination of holding the same may also be proved in any other manner which the Company and the
Trustee deem sufficient.

     (5) The Company may set any day as a record date for the purposes of determining the Holders
of Outstanding Securities of any series entitled to give, make or take any request, demand,
authorization, direction, vote, notice, consent, waiver or other action provided or permitted by
this Indenture to be given, made or taken by Holders of Securities of such series, and determining
whether the requisite proportion of Outstanding Securities held by such Holders have authorized or
agreed or consented to such request, demand, authorization, direction, vote, notice, consent,
waiver or other action (it being understood that with respect to such determination, the
Outstanding Securities shall be computed as of such record date), provided that the Company may not
set a record date for, and the provisions of this paragraph shall not apply with respect to, the
giving or making of any notice, declaration, request or direction referred to in paragraph (6)
below. If any record date is set pursuant to this paragraph, the Holders of Outstanding Securities
of the relevant series on such record date, and no other Holders, shall be entitled to take the
relevant action, whether or not such Holders remain Holders after such record date; provided that
no such action shall be effective hereunder unless taken on or prior to the applicable Expiration
Date by Holders of the requisite principal amount of Outstanding Securities of such series on such
record date. Nothing in this paragraph shall be

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construed to prevent the Company from setting a new record date for any action for which a
record date has previously been set pursuant to this paragraph (whereupon the record date
previously set shall automatically and with no action by any Person be cancelled and of no effect),
and nothing in this paragraph shall be construed to render ineffective any action taken by Holders
of the requisite principal amount of Outstanding Securities of the relevant series on the date such
action is taken. Promptly after any record date is set pursuant to this paragraph, the Company, at
its own expense, shall cause notice of such record date, the proposed action by Holders and the
applicable Expiration Date to be given to the Trustee in writing and to each Holder of Securities
of the relevant series in the manner set forth in Section 106.

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

     (7) With respect to any record date set pursuant to this Section, the party hereto which sets
such record date may designate any day as the “Expiration Date” and from time to time may change
the Expiration Date to any earlier or later day; provided that no such change shall be effective
unless notice of the proposed new Expiration Date is given to the other party hereto in writing,
and to each Holder of Securities of the relevant series in the manner set forth in Section 106, on
or prior to the existing Expiration Date. If an Expiration Date is not designated with respect to
any record date set pursuant to this Section, the party hereto which set such record date shall be
deemed to have initially designated the 180th day after such record date as the Expiration Date
with respect thereto, subject to its right to change the Expiration Date as provided in this
paragraph. Notwithstanding the foregoing, no Expiration Date shall be later than the 180th day
after the applicable record date.

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

     (9) Any request, demand, authorization, direction, notice, consent, waiver or other Act by 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 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 Act is made
upon such Security.

Section 105 Notices, etc., to Trustee and Company

     Any request, demand, authorization, direction, notice, consent, waiver or other 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 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 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 the attention of its Treasurer 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

     Except as otherwise expressly provided in or pursuant to this Indenture, where this Indenture
provides for notice to Holders of Securities of any event,

     (1) such notice shall be sufficiently given to Holders of Registered Securities if in writing
and mailed, first-class postage prepaid, to each Holder of a Registered Security affected by such
event, at his address as it appears in the Security Register, not later than the latest date, and
not earlier than the earliest date, prescribed for the giving of such notice; and

     (2) such notice shall be sufficiently given to Holders of Bearer Securities, if any, if
published in an Authorized Newspaper in The City of New York and, if such Securities are then
listed on any stock exchange outside the United States, in an Authorized Newspaper in such city as
the Company shall advise the Trustee that such stock exchange so requires, on a Business Day at
least twice, the first such publication to be not earlier than the earliest date and the second
such publication not later than the latest date prescribed for the giving of such notice.

     In any case where notice to Holders of Registered Securities is given by mail, neither the
failure to mail such notice, nor any defect in any notice so mailed, to any particular Holder of a
Registered Security shall affect the sufficiency of such notice with respect to other Holders of
Registered Securities or the sufficiency of any notice to Holders of Bearer Securities given as

14

 

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

     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 Bearers Securities as provided above, then such notification to Holders of Bearer
Securities as shall be given with the approval of the Trustee shall constitute sufficient notice to
such Holders for every purpose hereunder. 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.

     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 of Securities 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 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 108 Conflict with Trust Indenture Act

     If any provision hereof limits, qualifies or conflicts with any duties under any required
provision of the Trust Indenture Act, such required provision shall control.

Section 109 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 110 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 111 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.

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Section 112 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, the holders of Senior Debt, any Security Registrar, any
Paying Agent, any Authentication Agent and their successors hereunder and the Holders of Securities
or Coupons, any benefit or any legal or equitable right, remedy or claim under this Indenture.

Section 113 Governing Law

     This Indenture, the Securities and any Coupons shall be governed by and construed in
accordance with the internal laws of the State of New York 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 114 Legal Holidays

     Unless otherwise specified in or pursuant to this Indenture or any Securities, in any case
where any Interest Payment Date, Stated Maturity or Maturity of any Security, or the last date on
which a Holder has the right to convert or exchange Securities of a series that are convertible or
exchangeable, shall not be a Business Day (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 any Security or Coupon that specifically states that such provision shall apply in
lieu hereof) payment need not be made at such Place of Payment on such date, and such Securities
need not be converted or exchanged on such date but such payment may be made, and such Securities
may be converted or exchanged, 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 or on such last day for conversion or exchange, 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, Stated Maturity, Maturity or last day for conversion or exchange, as the case may be,
to the next succeeding Business Day.

Section 115 Counterparts

     This Indenture may be executed in several counterparts, each of which shall be an original and
all of which shall constitute but one and the same instrument.

Section 116 Judgment Currency

     The Company agrees, to the fullest extent that it may effectively do so under applicable law,
that (a) if for the purpose of obtaining judgment in any court it is necessary to convert the sum
due in respect of the principal of, or premium or interest, if any, or Additional Amounts on the
Securities of any series (the “Required Currency”) into a currency in which a judgment will be
rendered (the “Judgment Currency”), the rate of exchange used shall be the rate at which in
accordance with normal banking procedures the Trustee could purchase in The City of New York the
requisite amount of the Required Currency with the Judgment Currency on the New York Banking Day
preceding the day on which a final unappealable judgment is given and (b) its obligations under
this Indenture to make payments in the Required Currency (i) shall not be discharged or satisfied
by any tender, or any recovery pursuant to any judgment (whether or not entered in accordance with
clause (a)), in any currency other than the Required Currency, except

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to the extent that such tender or recovery shall result in the actual receipt, by the payee,
of the full amount of the Required Currency expressed to be payable in respect of such payments and
(ii) shall be enforceable as an alternative or additional cause of action for the purpose of
recovering in the Required Currency the amount, if any, by which such actual receipt shall fall
short of the full amount of the Required Currency so expressed to be payable. For purposes of the
foregoing, “New York Banking Day” means any day except a Saturday, Sunday or a legal holiday in The
City of New York or a day on which banking institutions in The City of New York are authorized or
obligated by law, regulation or executive order to be closed.

Section 117 No Security Interest Created

     Subject to the express terms of (i) any Securities established in or pursuant to a Board
Resolution or an indenture supplemental hereto in accordance with Section 301 and (ii) any
supplemental indenture entered into by the Company in compliance with Article Nine, nothing in this
Indenture or in any Securities, express or implied, shall be construed to constitute a security
interest under the Uniform Commercial Code or similar legislation, as now or hereafter enacted and
in effect in any jurisdiction where property of the Company or its Subsidiaries is or may be
located.

Section 118 Limitation on Individual Liability

     No recourse under or upon any obligation, covenant or agreement contained in this Indenture or
in any Security, or for any claim based thereon or otherwise in respect thereof, shall be had
against any incorporator, shareholder, officer or director, as such, past, present or future, of
the Company, either directly or through the Company, whether by virtue of any constitution, statute
or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly
understood that this Indenture and the obligations issued hereunder are solely corporate
obligations, and that no such personal liability whatever shall attach to, or is or shall be
incurred by, the incorporators, shareholders, officers or directors, as such, of the Company, or
any of them, because of the creation of the indebtedness hereby authorized, or under or by reason
of the obligations, covenants or agreements contained in this Indenture or in any Security or
implied therefrom; and that any and all such personal liability of every name and nature, either at
common law or in equity or by constitution or statute, of, and any and all such rights and claims
against, every such incorporator, shareholder, officer or director, as such, because of the
creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants
or agreements contained in this Indenture or in any Security or implied therefrom, are hereby
expressly waived and released as a condition of, and as a consideration for, the execution of this
Indenture and the issuance of such Security.

ARTICLE TWO

Securities Forms

Section 201 Forms Generally

     Each Registered Security, Bearer Security, Coupon and temporary or permanent global Security
issued pursuant to this Indenture shall be in the form established by or pursuant to a Board
Resolution and set forth in an Officers’ Certificate, or established in one or more indentures
supplemental hereto, shall have such appropriate insertions, omissions, substitutions

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and other variations as are required or permitted by or pursuant to this Indenture or any
indenture supplemental hereto and may have such letters, numbers or other marks of identification
and such legends or endorsements placed thereon as may, consistently herewith, be determined by the
officers executing such Security or Coupon as evidenced by their execution of such Security or
Coupon.

     Unless otherwise provided in or pursuant to this Indenture or any Securities, the Securities
shall be issuable in registered form without Coupons.

     Definitive Securities and definitive Coupons shall be printed, lithographed or engraved or
produced by any combination of these methods on a steel engraved border or steel engraved borders
or may be produced in any other manner, all as determined by the officers of the Company executing
such Securities or Coupons, as evidenced by their execution of such Securities or Coupons.

Section 202 Form of Trustee’s Certificate of Authentication

     Subject to Section 611, the Trustee’s certificate of authentication shall be in substantially
the following form:

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

	 	 	 
	 

	 	                                        , as Trustee
	 
	 	 
	 

	 	By                                                     
	 

	 	       Authorized Signatory

Section 203 Securities in Global Form

     If Securities of a series shall be issuable in global form, any such Security may provide that
it or any number of such Securities shall represent the aggregate amount of all Outstanding
Securities of such series (or such lesser amount as is permitted by the terms thereof) 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 increased or reduced to reflect exchanges. Any
endorsement of any 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 Section 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 Section 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.

     Notwithstanding the provisions of Section 307, unless otherwise specified in or pursuant to
this Indenture or any Securities, payment of principal of, any premium and interest on, and

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any Additional Amounts in respect of, any Security in temporary or permanent global form shall
be made to the Person or Persons specified therein.

     Notwithstanding the provisions of Section 308 and except as provided in the preceding
paragraph, the Company, the Trustee and any agent of the Company and the Trustee shall treat as the
Holder of such principal amount of Outstanding Securities as is represented by a global Security
(i) in the case of a global Security in registered form, the Holder of such global Security in
registered form, or (ii) in the case of a global Security in bearer form, the Person or Persons
specified pursuant to Section 308.

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. With respect to
any Securities to be authenticated and delivered hereunder, 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,

     (1) the title of such Securities and the series in which such Securities shall be included;

     (2) any limit upon the aggregate principal amount of the Securities of such title or the
Securities of such 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 Section 304, Section 305, Section 306, Section
905 or Section 1107, upon repayment in part of any Registered Security of such series pursuant to
Article Thirteen, upon surrender in part of any Registered Security for conversion or exchange into
Common Stock or other Stock, securities, cash or other property pursuant to its terms, or pursuant
to the terms of such Securities);

     (3) if such Securities are to be issuable as Registered Securities, as Bearer Securities or
alternatively as Bearer Securities and Registered Securities, 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;

     (4) if any of such Securities are to be issuable in global form, when any of such Securities
are to be issuable in global form and (i) whether such Securities are to be issued in temporary or
permanent global form or both, (ii) whether beneficial owners of interests in any such global
Security may exchange such interests 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 (iii) the name of the Depository or the
U.S. Depository, as the case may be, with respect to any global Security;

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     (5) if any of such Securities are to be issuable as Bearer Securities or in global form, the
date as of which any such Bearer Security or global Security shall be dated (if other than the date
of original issuance of the first of such Securities to be issued);

     (6) if any of such Securities are to be issuable as Bearer Securities, whether interest in
respect of any portion of a temporary Bearer Security in global form payable in respect of an
Interest Payment Date therefor prior to the exchange, if any, of such temporary Bearer Security for
definitive Securities 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;

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

     (8) the rate or rates at which such Securities shall bear interest, if any, or the method or
methods, if any, by which such rate or rates are to be determined, the date or dates, if any, from
which such interest shall accrue or the method or methods, if any, by which such date or dates are
to be determined, the right, if any, to extend the interest payment period for such Securities, 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 Registered Securities on any Interest Payment Date,
whether and under what circumstances Additional Amounts on such Securities or any of them shall be
payable, the notice, if any, to Holders regarding the determination of interest on a floating rate
Security and the manner of giving such notice, and the basis upon which interest shall be
calculated if other than that of a 360-day year of twelve 30-day months;

     (9) if in addition to or other than the Borough of Manhattan, The City of New York, the place
or places where the principal of, any premium and interest on or any Additional Amounts with
respect to such Securities shall be payable, any of such Securities that are Registered Securities
may be surrendered for registration of transfer or exchange, any of such Securities may be
surrendered for conversion or exchange and notices or demands to or upon the Company in respect of
such Securities and this Indenture may be served, the extent to which, or the manner in which, any
interest payment or Additional Amounts on a global Security on an Interest Payment Date, will be
paid and the manner in which any principal of or premium, if any, on any global Security will be
paid;

     (10) whether any of such Securities are to be redeemable at the option of the Company and, if
so, the date or dates on which, the period or periods within which, the price or prices at which
and the other terms and conditions upon which such Securities may be redeemed, in whole or in part,
at the option of the Company;

     (11) whether the Company is obligated to redeem or purchase any of such Securities pursuant to
any sinking fund or analogous provision or at the option of any Holder thereof and, if so, the date
or dates on which, the period or periods within which, the price or prices at which and the other
terms and conditions upon which such Securities shall be redeemed or purchased,

20

 

in whole or in part, pursuant to such obligation, and any provisions for the remarketing of
such Securities so redeemed or purchased;

     (12) 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;

     (13) whether the Securities of the series will be convertible into shares of Stock and/or
exchangeable for other securities, cash or other property, and if so, the terms and conditions upon
which such Securities will be so convertible or exchangeable, and any deletions from or
modifications or additions to this Indenture to permit or to facilitate the issuance of such
convertible or exchangeable Securities or the administration thereof;

     (14) if other than the principal amount thereof, the portion of the principal amount of any of
such Securities that 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) and the amount
which shall be deemed to be Outstanding as of any date prior to the Stated Maturity for any other
purpose (or the method by which such amount is to be determined);

     (15) if other than Dollars, the Foreign Currency in which payment of the principal of, any
premium or interest on or any Additional Amounts with respect to any of such Securities shall be
payable;

     (16) if the principal of, any premium or interest on or any Additional Amounts with respect to
any of such Securities are to be payable, at the election of the Company or a Holder thereof or
otherwise, in Dollars or in a Foreign Currency other than that in which such Securities are stated
to be payable, the date or dates on which, the period or periods within which, and the other terms
and conditions upon which, such election may be made, and the time and manner of determining the
exchange rate between the Currency in which such Securities are stated to be payable and the
Currency in which such Securities or any of them are to be paid pursuant to such election, and any
deletions from or modifications of or additions to the terms of this Indenture to provide for or to
facilitate the issuance of Securities denominated or payable, at the election of the Company or a
Holder thereof or otherwise, in a Foreign Currency;

     (17) whether the amount of payments of principal of, any premium or interest on or any
Additional Amounts with respect to such Securities may be determined with reference to an index,
formula or other method or methods (which index, formula or method or methods may be based, without
limitation, on one or more Currencies, commodities, equity indices or other indices), and, if so,
the terms and conditions upon which and the manner in which such amounts shall be determined and
paid or be payable;

     (18) any deletions from, modifications of or additions to the Events of Default or covenants
of the Company with respect to any of such Securities, whether or not such Events of Default or
covenants are consistent with the Events of Default or covenants set forth herein and any change in
the right of the Trustee or the requisite Holders of such Securities to declare the principal
amount thereof due and payable pursuant to Section 502;

21

 

     (19) whether either or both of Section 402(2) relating to defeasance or Section 402(3)
relating to covenant defeasance shall not be applicable to the Securities of such series, or any
covenants in addition to those specified in Section 402(3) relating to the Securities of such
series which shall be subject to covenant defeasance, and, if the Securities of such series are
subject to repurchase or repayment at the option of the Holders thereof, whether the Company’s
obligation to repurchase or repay such Securities will be subject to defeasance or covenant
defeasance, and any deletions from, or modifications or additions to, the provisions of Article
Four in respect of the Securities of such series;

     (20) whether any of such Securities are to be issuable upon the exercise of warrants, and the
time, manner and place for such Securities to be authenticated and delivered;

     (21) 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, the form
and terms of such certificates, documents or conditions;

     (22) 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;

     (23) whether the Securities of the series will be secured, and if so the terms and conditions
upon which such Securities will be so secured and the terms of such security; and

     (24) any other terms of such Securities and any deletions from or modifications or additions
to this Indenture in respect of such Securities.

     All Securities of any one series and all Coupons, if any, appertaining to Bearer Securities of
such series shall be substantially identical except as to Currency of payments due thereunder,
denomination and the rate of interest, or method of determining the rate of interest, if any,
Maturity, and the date from which interest, if any, shall accrue and except as may otherwise be
provided by the Company in or pursuant to the Board Resolution and set forth in the Officers’
Certificate or in any indenture or indentures supplemental hereto pertaining to such series of
Securities. The terms of the Securities of any series may provide, without limitation, that the
Securities shall be authenticated and delivered by the Trustee on original issue from time to time
upon telephonic or written order of persons designated in the Officers’ Certificate or supplemental
indenture (telephonic instructions to be promptly confirmed in writing by such person) and that
such persons are authorized to determine, consistent with such Officers’ Certificate or any
applicable supplemental indenture, such terms and conditions of the Securities of such series as
are specified in such Officers’ Certificate or supplemental indenture. 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 Securities of any series
shall be established by action taken by or pursuant to a Board Resolution, the Board Resolution
shall be delivered to the Trustee at or prior to the delivery of the Officers’ Certificate setting
forth the terms of such series.

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     The Securities shall be subordinated in right of payment to Senior Debt as provided in Article
Sixteen.

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.
Unless otherwise provided in or pursuant to this Indenture, Registered Securities denominated in
Dollars shall be issuable in registered form without Coupons in denominations of $1,000 and any
integral multiple thereof, and the Bearer Securities denominated in Dollars shall be issuable in
the denomination of $5,000. Securities not denominated in Dollars shall be issuable in such
denominations as are established with respect to such Securities in or pursuant to this Indenture.

Section 303 Execution, Authentication, Delivery and Dating

     Securities shall be executed on behalf of the Company by its Chairman of the Board (if any),
its Vice Chairman (if any), its President, its principal financial officer, its Treasurer or one of
its Vice Presidents and attested by its Secretary or one of its Assistant Secretaries. Coupons
shall be executed on behalf of the Company by the Treasurer or any Assistant Treasurer of the
Company. The signature of any of these officers on the Securities or any Coupons appertaining
thereto may be manual or facsimile.

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

     At any time and from time to time after the execution and delivery of this Indenture, the
Company may deliver Securities, together with any Coupons appertaining thereto, executed by the
Company, to the Trustee for authentication and, provided that the Board Resolution and Officers’
Certificate or supplemental indenture or indentures with respect to such Securities referred to in
Section 301 and a Company Order for the authentication and delivery of such Securities have been
delivered to the Trustee, the Trustee in accordance with the Company Order and subject to the
provisions hereof and of such Securities shall authenticate and deliver such Securities. In
authenticating such Securities, and accepting the additional responsibilities under this Indenture
in relation to such Securities and any Coupons appertaining thereto, 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,

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

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

     (b) all conditions precedent to the authentication and delivery of such Securities and
Coupons, if any, appertaining thereto, have been complied with and that such Securities, and
Coupons, when completed by appropriate insertions, executed under the

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Company’s corporate seal and attested by duly authorized officers of the Company,
delivered by duly authorized officers of the Company to the Trustee for authentication
pursuant to this Indenture, and authenticated and delivered by the Trustee and issued by the
Company in the manner and subject to any conditions specified in such Opinion of Counsel,
will constitute legally valid and binding obligations of the Company, enforceable against
the Company in accordance with their terms, except as enforcement thereof may be subject to
or limited by bankruptcy, insolvency, reorganization, moratorium, arrangement, fraudulent
conveyance, fraudulent transfer or other similar laws relating to or affecting creditors’
rights generally, and subject to general principles of equity (regardless of whether
enforcement is sought in a proceeding in equity or at law) and will entitle the Holders
thereof to the benefits of this Indenture; such Opinion of Counsel need express no opinion
as to the availability of equitable remedies; and

     (2) an Officers’ Certificate stating that all conditions precedent to the execution,
authentication and delivery of such Securities and Coupons, if any, appertaining thereto, have been
complied with and that, 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.

     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 shall be delivered at or before the time of
issuance of the first Security of such series. After any such first delivery, any separate request
by the Company that the Trustee authenticate Securities of such series for original issue will be
deemed to be a certification by the Company that all conditions precedent provided for in this
Indenture relating to authentication and delivery of such Securities continue to have been complied
with.

     The Trustee shall not be required to authenticate or to cause an Authenticating Agent to
authenticate any Securities if the issue of such Securities pursuant to this Indenture will affect
the Trustee’s own rights, duties or immunities under the Securities and this Indenture or otherwise
in a manner which is not reasonably acceptable to the Trustee or if the Trustee, being advised by
counsel, determines that such action may not lawfully be taken.

     Each Registered Security shall be dated the date of its authentication. Each Bearer Security
and any Bearer Security in global form shall be dated as of the date specified in or pursuant to
this Indenture.

     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 in Section 202 or Section 611
executed by or on behalf of the Trustee or by the Authenticating Agent by the manual signature of
one of its authorized officers. Such certificate upon any Security shall be conclusive evidence,
and the only evidence, that such Security has been duly authenticated and delivered hereunder.
Except as permitted by Section 305 or Section 306, the Trustee shall not authenticate and deliver
any Bearer Security unless all Coupons appertaining thereto then matured have been detached and
cancelled. Notwithstanding the foregoing, if any Security shall have been authenticated and
delivered hereunder but never issued and sold by the Company, and the

24

 

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

Section 304 Temporary Securities

     Pending the preparation of definitive Securities, the Company may execute and deliver to the
Trustee and, upon Company Order, the Trustee shall authenticate and deliver, in the manner provided
in Section 303, temporary Securities in lieu thereof which are printed, lithographed, typewritten,
mimeographed or otherwise produced, in any authorized denomination, substantially of the tenor of
the definitive Securities in lieu of which they are issued, in registered form or, if authorized in
or pursuant to this Indenture, in bearer form with one or more Coupons or without Coupons and with
such appropriate insertions, omissions, substitutions and other variations as the officers of the
Company executing such Securities may determine, as conclusively evidenced by their execution of
such Securities. Such temporary Securities may be in global form.

     Except in the case of temporary Securities in global form, which shall be exchanged in
accordance with the provisions thereof, if temporary Securities are issued, the Company shall cause
definitive Securities 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, such temporary Securities shall be exchangeable for such
definitive Securities upon surrender of such temporary Securities at an Office or Agency for such
Securities, without charge to any Holder thereof. Upon surrender for cancellation of any one or
more temporary Securities (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 authorized denominations of the same series and containing
identical terms and provisions; provided, however, that no definitive Bearer Security, except as
provided in or pursuant to this Indenture, shall be delivered in exchange for a temporary
Registered Security; and provided, further, that a definitive Bearer Security shall be delivered in
exchange for a temporary Bearer Security only in compliance with the conditions set forth in or
pursuant to this Indenture. Unless otherwise provided in or pursuant to this Indenture with
respect to a temporary global Security, 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.

Section 305 Registration, Transfer and Exchange

     With respect to the Registered Securities of each series, if any, the Company shall cause to
be kept a register (each such register being herein sometimes referred to as the “Security
Register”) at an Office or Agency for such series in which, subject to such reasonable regulations
as it may prescribe, the Company shall provide for the registration of the Registered Securities of
such series and of transfers of the Registered Securities of such series. Such Office or Agency
shall be the “Security Registrar” for that series of Securities. Unless otherwise specified in or
pursuant to this Indenture or the Securities, the Trustee shall be the initial Security Registrar
for each series of Securities. The Company shall have the right to remove and replace from time to
time the Security Registrar for any series of Securities; provided that no such removal or
replacement shall be effective until a successor Security Registrar with respect to such series of
Securities shall have been appointed by the Company and shall have accepted such appointment

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by the Company. In the event that the Trustee shall not be or shall cease to be the 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. There shall be only one Security Register for
each series of Securities.

     Upon surrender for registration of transfer of any Registered Security of any series at any
Office or Agency for such 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 denominated as authorized in or pursuant to this Indenture, 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 may be exchanged for other
Registered Securities of the same series containing identical terms and provisions, in any
authorized denominations, and of a like aggregate principal amount, upon surrender of the
Securities to be exchanged at any Office or Agency for such series. 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.

     If provided in or pursuant to this Indenture, with respect to Securities of any series, at the
option of the Holder, Bearer Securities of such series may be exchanged for Registered Securities
of such series containing identical terms, denominated as authorized in or pursuant to this
Indenture and in the same aggregate principal amount, upon surrender of the Bearer Securities to be
exchanged at any Office or Agency for such series, 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
is 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 Bearer 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 for such series located outside
the United States. Notwithstanding the foregoing, in case a Bearer Security of any series is
surrendered at any such Office or Agency for such series in exchange for a Registered Security of
such series and like tenor 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

26

 

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.

     If provided in or pursuant to this Indenture with respect to Securities of any series, at the
option of the Holder, Registered Securities of such series may be exchanged for Bearer Securities
upon such terms and conditions as may be provided in or pursuant to this Indenture with respect to
such series.

     Whenever any Securities are surrendered for exchange as contemplated by the immediately
preceding two paragraphs, the Company shall execute, and the Trustee shall authenticate and
deliver, the Securities which the Holder making the exchange is entitled to receive.

     Notwithstanding the foregoing, except as otherwise provided in or pursuant to this Indenture,
any global Security shall be exchangeable for definitive Securities only if (i) the Depository is
at any time unwilling, unable or ineligible to continue as Depository and a successor depository is
not appointed by the Company within 90 days of the date the Company is so informed in writing, (ii)
the Depositary ceases to be a clearing agency registered under the Exchange Act, (iii) the Company
executes and delivers to the Trustee a Company Order to the effect that such global Security shall
be so exchangeable or (iv) an Event of Default has occurred and is continuing with respect to the
Securities; provided, however, that in the case of this clause (iv), the Company shall only be
obligated to exchange that portion of any global Security for definitive Securities as shall be
requested (in accordance with the rules and procedures of the Depositary) by the beneficial owners
of interests in such global Security and then only to the extent of their beneficial interests. If
the beneficial owners of interests in a global Security are entitled to exchange such interests for
definitive Securities as the result of an event described in clause (i), (ii), (iii) or (iv) of the
preceding sentence, then without unnecessary delay but in any event not later than the earliest
date on which such interests may be so exchanged, the Company shall deliver to the Trustee
definitive Securities in such form and denominations as are required by or pursuant to this
Indenture, and of the same series, containing identical terms and in aggregate principal amount
equal to the principal amount of such global Security, executed by the Company. On or after the
earliest date on which such interests may be so exchanged, such global Security shall be
surrendered from time to time by the U.S. Depository or such other Depository as shall be specified
in the Company Order with respect thereto, and in accordance with instructions given to the Trustee
and the U.S. Depository or such other Depository, as the case may be (which instructions shall be
in writing but need not be contained in or accompanied by an Officers’ Certificate or be
accompanied by an Opinion of Counsel), as shall be specified in the Company Order with respect
thereto to the Trustee, as the Company’s agent for such purpose, to be exchanged, in whole or in
part, for definitive Securities as described above without charge. The Trustee shall authenticate
and make available for delivery, in exchange for each portion of such surrendered global Security,
a like aggregate principal amount of definitive Securities of the same series of authorized
denominations and of like tenor as the portion of such global Security to be exchanged, which
(unless such Securities are not issuable both as Bearer Securities and as Registered Securities, in
which case the definitive Securities exchanged for the global Security shall be issuable only in
the form in which the Securities are issuable, as provided in or pursuant to this Indenture) shall
be in the form of Bearer Securities or Registered

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Securities, or any combination thereof, as shall be specified by the beneficial owner thereof,
but subject to the satisfaction of any certification or other requirements to the issuance of
Bearer Securities; provided, however, that no such exchanges may occur during a period beginning at
the opening of business 15 days before any selection of Securities of the same series to be
redeemed and ending on the relevant Redemption Date; and provided, further, that (unless otherwise
provided in or pursuant to this Indenture) no Bearer Security delivered in exchange for a portion
of a global Security shall be mailed or otherwise delivered to any location in the United States.
Promptly following any such exchange in part, such global Security shall be returned by the Trustee
to such Depository or the U.S. Depository, as the case may be, or such other Depository or U.S.
Depository referred to above in accordance with the instructions of the Company referred to above.
If a Registered portion of a global Security after the close of business at the Office or Agency
for such Security where such exchange occurs on or after (i) any Regular Record Date for such
Security and before the opening of business at such Office or Agency on the next Interest Payment
Date, or (ii) any Special Record Date for such Security and before the opening of business at such
Office or Agency on the related proposed date for payment of interest or Defaulted Interest, as the
case may be, interest shall not be payable on such Interest Payment Date or proposed date for
payment, as the case may be, in respect of such Registered Security, but shall be payable on such
Interest Payment Date or proposed date for payment, as the case may be, only to the Person to whom
interest in respect of such portion of such global Security shall be payable in accordance with the
provisions of this Indenture.

     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 for such
Security) be duly endorsed, or be accompanied by a written instrument of transfer in form
satisfactory to the Company and the Security Registrar for such Security 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 and any other expenses (including fees and expenses of the Trustee) that may be
imposed in connection with any registration of transfer or exchange of Securities, other than
exchanges pursuant to Sections 304, 306 and 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 any Securities during a period
beginning at the opening of business 15 days before the day of the mailing of a notice of
redemption of Securities of like tenor and the same series under Section 1103 and ending at the
close of business on the day of such mailing, (ii) to register the transfer of or exchange any
Registered Security so selected for redemption in whole or in part, except in the case of any
Security to be redeemed in part, the portion thereof not to be redeemed (iii) to exchange any
Bearer Security so selected for redemption except, to the extent provided with respect to such
Bearer Security, that

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such Bearer Security may be exchanged for a Registered Security of like tenor and the same
series, provided that such Registered Security shall be immediately 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.

Section 306 Mutilated, Destroyed, Lost and Stolen Securities

     If any mutilated Security or a Security with a mutilated Coupon appertaining to it is
surrendered to the Trustee, subject to the provisions of this Section 306, the Company shall
execute and the Trustee shall authenticate and deliver in exchange therefor a new Security of the
same series containing identical terms and of like principal amount and bearing a number not
contemporaneously outstanding, with Coupons appertaining thereto corresponding to the Coupons, if
any, appertaining to the surrendered Security.

     If there be delivered to the Company and to the Trustee (i) evidence to their satisfaction of
the destruction, loss or theft of any Security or 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 the Company’s request the Trustee shall
authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or
stolen Security or in exchange for the Security to which a destroyed, lost or stolen Coupon
appertains with all appurtenant Coupons not destroyed, lost or stolen, a new Security of the same
series containing identical terms and of like principal amount and bearing a number not
contemporaneously outstanding, with Coupons corresponding to the Coupons, if any, appertaining to
such destroyed, lost or stolen Security or to the Security to which such destroyed, lost or stolen
Coupon appertains.

     Notwithstanding the foregoing provisions of this Section 306, in case any 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, pay such Security or Coupon;
provided, however, that payment of principal of, any premium or interest on or any Additional
Amounts with respect to any Bearer Securities shall, except as otherwise provided in Section 1002,
be payable only at an Office or Agency for such Securities located outside the United States and,
unless otherwise provided in or pursuant to this Indenture, 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, with any Coupons appertaining thereto 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 a separate obligation of the Company, whether or
not the destroyed, lost or stolen Security and Coupons appertaining thereto

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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 such series and any 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, shall be exclusive and shall preclude (to the extent
lawful) all other rights and remedies with respect to the replacement or payment of mutilated,
destroyed, lost or stolen Securities or Coupons.

Section 307 Payment of Interest and Certain Additional Amounts; Rights to Interest and Certain
Additional Amounts Preserved

     Unless otherwise provided in or pursuant to this Indenture, any interest on and any Additional
Amounts with respect to any Registered Security which shall be payable, and are punctually paid or
duly provided for, on any Interest Payment Date shall be paid to the Person in whose name such
Security (or one or more Predecessor Securities) is registered as of 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
therefor, 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.

     Unless otherwise provided in or pursuant to this Indenture, any interest on and any Additional
Amounts with respect to any Registered Security which shall be payable, but shall not be punctually
paid or duly provided for, on any Interest Payment Date for such Registered Security (herein called
“Defaulted Interest”) shall forthwith cease to be payable to the Holder thereof 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 Person in whose
name such Registered Security (or a Predecessor Security thereof) shall be 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 such Registered Security 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 on or prior to the date of the proposed
payment, such money when so deposited to be held in trust for the benefit of the Person entitled to
such Defaulted Interest as in this clause provided. Thereupon, the Trustee shall fix a Special
Record Date for the payment of such Defaulted Interest which shall be not more than 15 days and not
less than 10 days prior to the date of the proposed payment and not less than 10 days after the
receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify
the Company of such Special Record Date and, in the name and at

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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 the
Holder of such Registered Security (or a Predecessor Security thereof) 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 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 mailed as aforesaid, such Defaulted
Interest shall be paid to the Person in whose name such Registered Security (or a Predecessor
Security thereof) shall be 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 Defaulted Interest
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 in any other lawful manner not
inconsistent with the requirements of any securities exchange on which such Security 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 payment shall be deemed
practicable by the Trustee.

     Unless otherwise provided in or pursuant to this Indenture or the Securities of any particular
series pursuant to the provisions of this Indenture, at the option of the Company, interest on
Registered Securities that bear interest may be paid by mailing a check to the address of the
Person entitled thereto as such address shall appear in the Security Register or by transfer to an
account maintained by the payee with a bank located in the United States.

     Subject to the foregoing provisions of this Section and Section 305, each Security delivered
under this Indenture upon registration of transfer of or in exchange for or in lieu of any other
Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried
by such other Security.

     In the case of any Registered Security of any series that is convertible or exchangeable,
which Registered Security is converted or exchanged after any Regular Record Date and on or prior
to the next succeeding Interest Payment Date (other than any Registered Security, the principal of
(or premium, if any, on) which shall become due and payable, whether at Stated Maturity or by
declaration of acceleration prior to such Interest Payment Date), interest with respect to which
the Stated Maturity is on such Interest Payment Date shall be payable on such Interest Payment Date
notwithstanding such conversion or exchange, and such interest (whether or not punctually paid or
duly provided for) shall be paid to the Person in whose name that Registered Security (or one or
more predecessor Registered Securities) is registered at the close

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of business on such Regular Record Date. Except as otherwise expressly provided in the
immediately preceding sentence, in the case of any Registered Security which is converted or
exchanged, interest with respect to which the Stated Maturity is after the date of conversion or
exchange of such Registered Security shall not be payable.

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 in the Security Register as the owner of such Registered Security
for the purpose of receiving payment of principal of, any premium and (subject to Section 305 and
Section 307) interest on and any Additional Amounts with respect to such Registered Security and
for all other purposes whatsoever, whether or not any payment with respect to such Registered
Security shall be overdue, and none of the Company, the Trustee or any agent of the Company or the
Trustee shall be affected by notice to the contrary.

     The Company, the Trustee and any agent of the Company or the Trustee may treat the bearer of
any Bearer Security or the bearer of any Coupon as the absolute owner of such Security or Coupon
for the purpose of receiving payment thereof or on account thereof and for all other purposes
whatsoever, whether or not any payment with respect to such Security or Coupon shall be overdue,
and none of the Company, the Trustee or 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 a Depository
shall have any rights under this Indenture with respect to such global Security, and such
Depository 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 interests
of a global Security or for maintaining, supervising or reviewing any records relating to such
beneficial ownership interests.

Section 309 Cancellation

     All Securities and Coupons surrendered for payment, redemption, registration of transfer,
exchange or conversion or for credit against any sinking fund payment shall, if surrendered to any
Person other than the Trustee, be delivered to the Trustee, and any such Securities and Coupons, as
well as Securities and Coupons surrendered directly to the Trustee for any such purpose, shall be
cancelled promptly by the Trustee. 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 so delivered shall be cancelled promptly
by the Trustee. No Securities shall be authenticated in lieu of or in exchange for any Securities
cancelled as provided in this Section, except as expressly permitted by or pursuant to this
Indenture. All cancelled Securities and Coupons held by the Trustee shall be disposed of by the
Trustee in accordance with its customary procedures.

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Section 310 Computation of Interest

     Except as otherwise provided in or pursuant to this Indenture, or in any Security, interest on
the Securities shall be computed on the basis of a 360-day year of twelve 30-day months.

Section 311 CUSIP Numbers

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

ARTICLE FOUR

Satisfaction and Discharge of Indenture

Section 401 Satisfaction and Discharge

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

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

     (b) all Securities of such series and, in the case of (i) or (ii) below, any Coupons
appertaining thereto not theretofore delivered to the Trustee for cancellation

     (i) have become due and payable, or

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

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

     (2) the Company has paid or caused to be paid all other sums payable hereunder by the Company
with respect to the Outstanding Securities of such series and any Coupons appertaining thereto; 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 as to such series 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 with respect to any series of
Securities, the obligations of the Company to the Trustee under Section 606, and, if money shall
have been deposited with the Trustee pursuant to subclause (b) of clause (1) of this Section, the
obligations of the Company and the Trustee with respect to the Securities of such series under
Section 305, Section 306, Section 403, Section 1002 and Section 1003, with respect to the payment
of Additional Amounts, if any, with respect to such Securities as contemplated by Section 1004 (but
only to the extent that the Additional Amounts payable with respect to such Securities exceed the
amount deposited in respect of such Additional Amounts pursuant to Section 401(1)(b)), and with
respect to any rights to convert or exchange such Securities into Stock or other securities, cash
or other property shall survive.

Section 402 Defeasance and Covenant Defeasance

     (1) Unless pursuant to Section 301, either or both of (i) defeasance of the Securities of or
within a series under clause (2) of this Section 402 shall not be applicable with respect to the
Securities of such series or (ii) covenant defeasance of the Securities of or within a series under
clause (3) of this Section 402 shall not be applicable with respect to the Securities of such
series, then such provisions, together with the other provisions of this Section 402 (with such

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modifications thereto as may be specified pursuant to Section 301 with respect to any Securities),
shall be applicable to such Securities and any Coupons appertaining thereto, and the Company may at
its option by Board Resolution, at any time, with respect to such Securities and any Coupons
appertaining thereto, elect to have Section 402(2) or Section 402(3) be applied to such
Outstanding Securities and any Coupons appertaining thereto upon compliance with the conditions set
forth below in this Section 402.

     (2) Upon the Company’s exercise of the above option applicable to this Section 402(2) with
respect to any Securities of or within a series, the Company shall be deemed to have been
discharged from its obligations with respect to such Outstanding Securities and any Coupons
appertaining thereto on the date the conditions set forth in clause (4) of this Section 402 are
satisfied (hereinafter, “defeasance”). For this purpose, such defeasance means that the Company
shall be deemed to have paid and discharged the entire indebtedness represented by such Outstanding
Securities and any Coupons appertaining thereto, which shall thereafter be deemed to be
“Outstanding” only for the purposes of clause (6) of this Section 402 and the other Sections of
this Indenture referred to in clauses (i) and (ii) below, and to have satisfied all of its other
obligations under such Securities and any Coupons appertaining thereto and this Indenture insofar
as such Securities and any Coupons appertaining thereto are concerned (and the Trustee, at the
expense of the Company, shall execute proper instruments acknowledging the same), except for the
following which shall survive until otherwise terminated or discharged hereunder: (i) the rights of
Holders of such Outstanding Securities and any Coupons appertaining thereto to receive, solely from
the trust fund described in clause (4) of this Section 402 and as more fully set forth in such
Section, payments in respect of the principal of (and premium, if any) and interest, if any, on,
and Additional Amounts, if any, with respect to, such Securities and any Coupons appertaining
thereto when such payments are due, and any rights of such Holder to convert or exchange such
Securities into Stock or other securities, cash or other property, (ii) the obligations of the
Company and the Trustee with respect to such Securities under Section 305, Section 306, Section
1002 and Section 1003 and with respect to the payment of Additional Amounts, if any, on such
Securities as contemplated by Section 1004 (but only to the extent that the Additional Amounts
payable with respect to such Securities exceed the amount deposited in respect of such Additional
Amounts pursuant to Section 402(4)(a) below), and with respect to any rights to convert or exchange
such Securities into Stock or other securities, cash or other property, (iii) the rights, powers,
trusts, duties and immunities of the Trustee hereunder and (iv) this Section 402. The Company may
exercise its option under this Section 402(2) notwithstanding the prior exercise of its option
under clause (3) of this Section 402 with respect to such Securities and any Coupons appertaining
thereto.

     (3) Upon the Company’s exercise of the above option applicable to this Section 402(3) with
respect to any Securities of or within a series, the Company shall be released, to the extent
specified pursuant to Section 301, from its obligations under any covenant applicable to such
Securities, with respect to such Outstanding Securities and any Coupons appertaining thereto on and
after the date the conditions set forth in clause (4) of this Section 402 are satisfied
(hereinafter, “covenant defeasance”), and such Securities and any Coupons appertaining thereto
shall thereafter be deemed to be not “Outstanding” for the purposes of any direction, waiver,
consent or declaration or Act of Holders (and the consequences of any thereof) in connection with
any such covenant, but shall continue to be deemed “Outstanding” for all other purposes hereunder.
For this purpose, such covenant defeasance means that, with respect to such

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Outstanding Securities
and any Coupons appertaining thereto, the Company may omit to comply with, and shall have no
liability in respect of, any term, condition or limitation set forth in any such covenant, whether
directly or indirectly, by reason of any reference elsewhere herein to any such covenant or by
reason of reference in any such covenant to any other provision herein or in any other document and
such omission to comply shall not constitute a default or an Event of Default under Section 501(4)
insofar as it relates, to the extent specified pursuant to Section 301, to any covenant applicable
to such Security, Section 501(5) or Section 501(8) or otherwise, as the case may be, but, except as
specified above, the remainder of this Indenture and such Securities and Coupons appertaining
thereto shall be unaffected thereby.

     (4) The following shall be the conditions to application of clause (2) or (3) of this Section
402 to any Outstanding Securities of or within a series and any Coupons appertaining thereto:

     (a) The Company shall irrevocably have deposited or caused to be deposited with the
Trustee (or another trustee satisfying the requirements of Section 607 who shall agree to
comply with the provisions of this Section 402 applicable to it) as trust funds in trust for
the purpose of making the following payments, specifically pledged as security for, and
dedicated solely to, the benefit of the Holders of such Securities and any Coupons
appertaining thereto, (1) an amount in Dollars or in such Foreign Currency in which such
Securities and any Coupons appertaining thereto are then specified as payable at Stated
Maturity, or (2) Government Obligations applicable to such Securities and Coupons
appertaining thereto (determined on the basis of the Currency in which such Securities and
Coupons appertaining thereto are then specified as payable at Stated Maturity) which through
the scheduled payment of, principal of (and premium, if any) and interest, if any, in
respect thereof in accordance with their terms will provide, not later than one day before
the due date of any payment of principal of (and premium, if any) and interest, if any, on
such Securities and any Coupons appertaining thereto, money in an amount, or (3) a
combination thereof, in any case, in an amount, sufficient, without consideration of any
reinvestment of such principal and interest, in the opinion of a nationally recognized firm
of independent public accountants expressed in a written certification thereof delivered to
the Trustee, to pay and discharge, and which shall be applied by the Trustee (or other
qualifying trustee) to pay and discharge, (y) the principal of (and premium, if any) and
interest, if any, on such Outstanding Securities and any Coupons appertaining thereto on the
Stated Maturity of such principal or installment of principal or interest and (z) any
mandatory sinking fund payments or analogous payments applicable to such Outstanding
Securities and any Coupons appertaining thereto on the day on which such payments are due
and payable in accordance with the terms of this Indenture and of such Securities and any
Coupons appertaining thereto.

     (b) Such defeasance or covenant defeasance shall not result in a breach or violation
of, or constitute a default under, this Indenture or any other material agreement or
instrument to which the Company is a party or by which it is bound.

     (c) No Event of Default or event which with notice or lapse of time or both would
become an Event of Default with respect to such Securities and any Coupons appertaining
thereto shall have occurred and be continuing on the date of such deposit

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     and, with respect
to defeasance only, at any time during the period ending on the 91st day after the date of
such deposit (it being understood that this condition shall not be deemed satisfied until
the expiration of such period).

     (d) In the case of an election under clause (2) of this Section 402, the Company shall
have delivered to the Trustee an Opinion of Counsel stating that

     (i) the Company has received from the Internal Revenue Service a letter ruling,
or there has been published by the Internal Revenue Service a Revenue Ruling, or

     (ii) since the date of execution of this Indenture, there has been a change in
the applicable Federal income tax law,

in either case to the effect that, and based thereon such opinion shall confirm that, the Holders
of such Outstanding Securities and any Coupons appertaining thereto will not recognize income, gain
or loss for Federal income tax purposes as a result of such defeasance and will be subject to
Federal income tax on the same amounts, in the same manner and at the same times as would have been
the case if such defeasance had not occurred.

     (e) In the case of an election under clause (3) of this Section 402, the Company shall
have delivered to the Trustee an Opinion of Counsel to the effect that the Holders of such
Outstanding Securities and any Coupons appertaining thereto will not recognize income, gain
or loss for Federal income tax purposes as a result of such covenant defeasance and will be
subject to Federal income tax on the same amounts, in the same manner and at the same times
as would have been the case if such covenant defeasance had not occurred.

     (f) The Company shall have delivered to the Trustee an Opinion of Counsel to the effect
that, after the 91st day after the date of establishment of such trust, all money and
Government Obligations (or other property as may be provided pursuant to Section 301)
(including the proceeds thereof) deposited or caused to be deposited with the Trustee (or
other qualifying trustee) pursuant to this clause (4) to be held in trust will not be
subject to any case or proceeding (whether voluntary or involuntary) in respect of the
Company under any Federal or State bankruptcy, insolvency, reorganization or other similar
law, or any decree or order for relief in respect of the Company issued in connection
therewith.

     (g) At the time of such deposit, (A) no default in the payment of any principal of or
premium, interest or additional amounts on any Senior Debt shall have occurred and be continuing, (B) no event
of default with respect to any Senior Debt shall have resulted in such Senior Debt becoming,
and continuing to be, due and payable prior to the date on which it would otherwise have
become due and payable (unless payment of such Senior Debt has been made or duly provided
for), and (C) no other event of default with respect to any Senior Debt shall have occurred
and be continuing permitting (after notice or lapse of time or both) the holders of such
Senior Debt (or a trustee on behalf of such holders) to declare

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     such Senior Debt due and
payable prior to the date on which it would otherwise have become due and payable.

     (h) The Company shall have delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel, each stating that all conditions precedent to the defeasance or covenant
defeasance under clause (2) or (3) of this Section 402 (as the case may be) have been
complied with.

     (i) Notwithstanding any other provisions of this Section 402(4), such defeasance or
covenant defeasance shall be effected in compliance with any additional or substitute terms,
conditions or limitations which may be imposed on the Company in connection therewith
pursuant to Section 301.

     (5) All money and Government Obligations (or other property as may be provided pursuant to
Section 301), including the proceeds thereof, deposited with the Trustee (or other qualifying
trustee, collectively for purposes of this Section 402(5), the “Trustee”) pursuant to clause (4) of
Section 402 in respect of any Outstanding Securities of any series and any Coupons appertaining
thereto shall be held in trust and applied by the Trustee as set forth in Section 403.

     (6) Unless otherwise specified in or pursuant to this Indenture or any Security, if, after a
deposit referred to in Section 402(4)(a) has been made, (a) the Holder of a Security in respect of
which such deposit was made is entitled to, and does, elect pursuant to Section 301 or the terms of
such Security to receive payment in a Currency other than that in which the deposit pursuant to
Section 402(4)(a) has been made in respect of such Security, or (b) a Conversion Event occurs in
respect of the Foreign Currency in which the deposit pursuant to Section 402(4)(a) has been made,
the indebtedness represented by such Security and any Coupons appertaining thereto shall be deemed
to have been, and will be, fully discharged and satisfied through the payment of the principal of
(and premium, if any), and interest, if any, on, and Additional Amounts, if any, with respect to,
such Security as the same becomes due out of the proceeds yielded by converting (from time to time
as specified below in the case of any such election) the amount or other property deposited in
respect of such Security into the Currency in which such Security becomes payable as a result of
such election or Conversion Event based on (x) in the case of payments made pursuant to clause (a)
above, the applicable market exchange rate for such Currency in effect on the second Business Day
prior to each payment date, or (y) with respect to a Conversion Event, the applicable market
exchange rate for such Foreign Currency in effect (as nearly as feasible) at the time of the
Conversion Event.

     The Company shall pay and indemnify the Trustee against any tax, fee or other charge, imposed
on or assessed against the Government Obligations deposited pursuant to this Section 402 or the
principal or interest received in respect thereof other than any such tax, fee or other charge
which by law is for the account of the Holders of such Outstanding Securities and any Coupons
appertaining thereto.

     Anything in this Section 402 to the contrary notwithstanding, the Trustee shall deliver or pay
to the Company from time to time upon Company Request any money or Government Obligations (or other
property and any proceeds therefrom) held by it as provided in clause (4) of this Section 402
which, in the opinion of a nationally recognized firm of independent public

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accountants expressed
in a written certification thereof delivered to the Trustee, are in excess of the amount thereof
which would then be required to be deposited to effect a defeasance or covenant defeasance, as
applicable, in accordance with this Section 402.

Section 403 Application of Trust Money

     Subject to the provisions of the last paragraph of Section 1003, all money and Government
Obligations (or other property as may be provided pursuant to Section 301), including proceeds
thereof, deposited with the Trustee (or other qualifying trustee, collectively for purposes of this
Section 403, the “Trustee”) pursuant to Section 401 or Section 402 in respect of any Outstanding
Securities of any series and any Coupons appertaining thereto shall be held in trust and applied by
the Trustee, in accordance with the provisions of the Securities, the Coupons appertaining thereto
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 Holders of such
Securities and any Coupons appertaining thereto of all sums due and to become due in respect of the
principal, premium, if any, interest and any Additional Amounts thereon; but such money and
Government Obligations (or other property) and proceeds thereof, if any, need not be segregated
from other funds except to the extent required by law.

ARTICLE FIVE

Events of Default and

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),
unless such event is specifically deleted or modified in or pursuant to the supplemental indenture,
Board Resolution or Officers’ Certificate establishing the terms of such series pursuant to this
Indenture:

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

     (2) default in the payment of the principal of or any premium on any Security of such series,
or any Additional Amounts payable with respect thereto, when the principal or premium becomes or
the Additional Amounts with respect thereto become due and payable at their maturity;

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

     (4) default in the performance, or breach, of any covenant or warranty of the Company in the
Indenture or the Securities (other than a covenant or warranty a default in the performance or the
breach of which is elsewhere in this Section 501 or in the supplemental

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indenture, Board Resolution
or Officers’ Certificate establishing the terms of such series specifically dealt with or which has
been expressly included in this Indenture solely for the benefit of a series of Securities other
than such series), and continuance of the default or breach for a period of 60 days after there has
been given, by registered or certified mail, to the Company by the Trustee or to the Company and
the Trustee by the Holders of at least 25% in aggregate principal amount of the Outstanding
Securities of such series, a written notice specifying the default or breach and requiring it to be
remedied and stating that the notice is a “Notice of Default” under Section 602;

     (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, whether such indebtedness now exists or shall hereafter be created, shall happen and shall
result in such indebtedness in aggregate principal amount (or, if applicable, with an issue price
and accreted original issue discount) in excess of $250 million becoming or being declared due and
payable prior to the date on which it would otherwise become due and payable, and (i) the
acceleration shall not be rescinded or annulled, (ii) such indebtedness shall not have been paid
and (iii) the Company shall not have contested such acceleration in good faith by appropriate
proceedings and have obtained and thereafter maintained a stay of all consequences that would have
a material adverse effect on the Company in each case 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 aggregate principal amount of the Outstanding
Securities of such series, a written notice specifying the default or breaches and requiring it to
be remedied and stating that the notice is a “Notice of Default” or other notice as prescribed
under Section 602; provided, however, that if after the expiration of such period, such event of
default shall be remedied or cured by the Company or be waived by the holders of such indebtedness
in any manner authorized by such mortgage, indenture or instrument, then the Event of Default with
respect to such series of Securities or by reason thereof shall, without further action by the
Company, the Trustee or any holder of Securities of such series, be deemed cured and not
continuing;

     (6) the entry by a court having competent jurisdiction of:

     (a) a decree or order for relief in respect of the Company in an involuntary proceeding
under any applicable Federal or State bankruptcy, insolvency, reorganization or other
similar law and the decree or order shall remain unstayed and in effect for a period of 60
consecutive days;

     (b) a decree or order adjudging the Company to be insolvent, or approving a petition
seeking reorganization, arrangement, adjustment or composition of the Company under any
applicable Federal or State bankruptcy, insolvency, reorganization or other similar law and
the decree or order shall remain unstayed and in effect for a period of 60 consecutive days;
or

     (c) a final and non-appealable order appointing a custodian, receiver, liquidator,
assignee, trustee or other similar official of the Company or of any substantial part of the
property of the Company or ordering the winding up or liquidation of the affairs of the
Company;

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

     (8) any other Event of Default provided in or pursuant to the Indenture with respect to
Securities of the 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 (other
than an Event of Default specified in clause (6) or (7) of Section 501) occurs and is continuing,
then the Trustee or the Holders of not less than 25% in aggregate principal amount of the
Outstanding Securities of such series may declare the principal of all the Securities of such
series, or such lesser amount as may be provided for in the Securities of such series, to be due
and payable immediately, by a notice in writing to the Company (and to the Trustee if given by the
Holders), and upon any declaration the principal or such lesser amount shall become immediately due
and payable. If an Event of Default specified in clause (6) or (7) of Section 501 above occurs,
all unpaid principal of and accrued interest on the Outstanding Securities of that series (or such
lesser amount as may be provided for in the Securities of such series) shall become and be
immediately due and payable without any declaration or other act on the part of the Trustee or any
Holder of any Security of such series.

     At any time after a declaration of acceleration or automatic acceleration with respect to the
Securities of any series has been made, the Holders of not less than a majority in principal amount
of the Outstanding Securities of such series (or such lesser amount as may be provided for in the
Securities of such series), by written notice to the Company and the Trustee, may rescind and annul
the declaration and its consequences if:

     (1) the Company has paid or deposited with the Trustee a sum of money sufficient to pay
all overdue installments of interest on all Securities of such series and any Additional
Amounts payable with respect thereto and any Coupon appertaining thereto, and the principal
of and any premium on any Securities of the series which have become due otherwise than by
the declaration of acceleration and interest thereon and any Additional Amounts with respect
thereto at the rate or rates borne by or provided in such Securities;

     (2) all Events of Default with respect to Securities of such series, other than the
non-payment of the principal of, any premium and interest on, and any Additional

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     Amounts
with respect to Securities of such series which shall have become due solely by the
acceleration, shall have been cured or waived as provided in Section 513; and

     (3) the rescission would not conflict with any judgment or decree for payment of the
money due obtained by the Trustee as provided hereafter in this Article.

     In the event of a declaration of acceleration under this Indenture because an Event of Default
set forth in Section 501(5) has occurred and is continuing, such declaration of acceleration shall
be automatically annulled if (a) as a result of the contest by the Company in appropriate
proceedings of the acceleration of the indebtedness which is the subject of such Event of Default,
the acceleration of such indebtedness is declared void ab initio, or (b) the holders of the
indebtedness which is the subject of such Event of Default have rescinded their declaration of
acceleration in respect of such indebtedness within 90 days thereof, and, in either case, (i) the
annulment of the declaration of acceleration under this Indenture would not conflict with any
judgment or decree, (ii) all other existing Events of Default, except non-payment of principal that
has become due solely because of such acceleration, have been cured or waived and (iii) the Company
has delivered an Officers’ Certificate to the Trustee to the effect of clauses (i) and (ii) above.
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 any Security, or any
Additional Amounts payable with respect thereto, or any Coupon appertaining thereto, when such
interest or Additional Amounts shall have become due and payable and such default continues for a
period of 30 days, or

     (2) default is made in the payment of any principal of or premium, if any, on, or any
Additional Amounts payable in respect of any principal of or premium, if any, on any Security at
its Maturity,

the Company shall, upon demand of the Trustee, pay to the Trustee, for the benefit of the Holders
of such Securities and any Coupons appertaining thereto, the whole amount of money then due and
payable with respect to such Securities and any Coupons appertaining thereto, with interest upon
the overdue principal, any premium and, to the extent that payment of such interest shall be
legally enforceable, upon any overdue installments of interest and Additional Amounts at the rate
or rates borne by or provided for in such Securities, 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 and all other amounts due the Trustee under Section 606.

     If the Company fails to pay the money it 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 and any

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Coupons appertaining
thereto and collect the monies adjudged or decreed to be payable in the manner provided by law out
of the property of the Company or any other obligor upon such Securities and any Coupons
appertaining thereto, 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 and any Coupons appertaining thereto by such appropriate
judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such
rights, whether for the specific enforcement of any covenant or agreement in this Indenture or such
Securities or in aid of the exercise of any power granted herein or therein, 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,

     (1) 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

     (2) 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 606.

     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; provided, however, that the Trustee

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may, on behalf
of the Holders, vote for the election of a trustee in bankruptcy or similar official and be a
member of a creditors’ or similar committee.

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, after provision for the payment of the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel, shall be for the ratable benefit
of each and every Holder of a Security or Coupon in respect of which such judgment has been
recovered.

Section 506 Application of Money Collected

     Any money collected by the Trustee pursuant to this Article shall be applied in the following
order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on
account of principal, or any premium, 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
606;

     SECOND: To the holders of Senior Debt to the extent required by Article Sixteen;

     THIRD: To the payment of the amounts then due and unpaid upon the Securities and any Coupons
for principal and any premium, interest and Additional Amounts 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 aggregate amounts due and payable on such Securities and Coupons for
principal and any premium, interest and Additional Amounts, respectively; and

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

Section 507 Limitations 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

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

     (2) the Holders of not less than 25% in principal amount of the Outstanding Securities of such
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;

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

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

     (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 such 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 such Holders or Holders of Securities of any
other series, or to obtain or to seek to obtain priority or preference over any other Holders or to
enforce any right under this Indenture, except in the manner herein provided and for the equal and
ratable benefit of all such Holders.

Section 508 Unconditional Right of Holders to Receive Principal and any Premium, Interest and
Additional Amounts, and to Convert or Exchange

     Subject to Article Sixteen and 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 Section 305 and Section 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), to convert or exchange such Securities in accordance with its terms and to
institute suit for the enforcement of any such payment, conversion or exchange right, 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 of a Security or a Coupon 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 the Company, the Trustee and each such Holder shall, subject to any
determination in such proceeding, 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.

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 each and every Holder of a Security
or a Coupon is intended to be exclusive of any other right or remedy, and every right and remedy,
to the extent permitted by law, shall 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.

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The assertion or
employment of any right or remedy hereunder, or otherwise, shall not, to the extent permitted by
law, 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 any Holder of a Security or a Coupon
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 of Securities

     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 or
with the Securities of any series,

     (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 on behalf of the Holders of all the Securities of such series and any Coupons
appertaining thereto may waive any past default hereunder with respect to such series and its
consequences, except a default

     (1) in the payment of the principal of, any premium or interest on, or any Additional Amounts
with respect to, any Security of such series or any Coupons appertaining thereto, or

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

     Upon any such waiver, such default shall cease to exist, any Event of Default arising
therefrom shall be deemed to have been cured and, subject to Section 502, any acceleration declared
as a result of such Event of Default shall be deemed void ab initio, for every purpose of this
Indenture; but no such waiver shall extend to any subsequent or other default or impair any right
consequent thereon.

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Section 514 Waiver of Stay or Extension Laws

     The Company covenants that (to the extent that it may lawfully do so) 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 expressly waives (to the extent
that it may lawfully do so) 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 Undertaking for Costs

     All parties to this Indenture agree, and each Holder of any Security by his acceptance thereof
shall be deemed to have agreed, that any court may in its discretion require, in any suit for the
enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any
action taken or omitted by it as Trustee, the filing by any party litigant in such suit of any
undertaking to pay the costs of such suit, and that such court may in its discretion assess
reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in
such suit having due regard to the merits and good faith of the claims or defenses made by such
party litigant; but the provisions of this Section 515 shall not apply to any suit instituted by
the Company or by the Trustee or in any suit for the enforcement of the right, if any, to convert
or exchange any Security into Common Stock or other securities, cash or other property in
accordance with its terms.

ARTICLE SIX

The Trustee

Section 601 Certain Rights of Trustee

     Subject to Sections 315(a) through 315(d) of the Trust Indenture Act:

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

     (2) any request or direction of the Company mentioned herein shall be sufficiently evidenced
by a Company Request or a 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;

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

47

 

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

     (5) the Trustee shall be under no obligation to exercise any of the rights or powers vested in
it by or pursuant to this Indenture at the request or direction of any of the Holders of Securities
of any series or any Coupons appertaining thereto 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;

     (6) the Trustee shall not be bound to make any investigation into the facts or matters stated
in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction,
consent, order, bond, debenture, coupon or other paper or document, but the Trustee, in its
discretion, may but shall not be obligated to 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, during business hours and upon
reasonable notice, the books, records and premises of the Company, personally or by agent or
attorney;

     (7) 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;

     (8) the Trustee shall not be liable for any action taken or error of judgment made in good
faith by a Responsible Officer or Responsible Officers of the Trustee, unless it shall be proved
that the Trustee was negligent, acted in bad faith or engaged in willful misconduct;

     (9) the Authenticating Agent, Paying Agent, and Security Registrar shall have the same
protections as the Trustee set forth hereunder;

     (10) the Trustee shall not be liable with respect to any action taken, suffered or omitted to
be taken by it in good faith in accordance with an Act of the Holders hereunder, and, to the extent
not so provided herein, with respect to any act requiring the Trustee to exercise its own
discretion, relating to the time, method and place of conducting any proceeding for any remedy
available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this
Indenture or any Securities, unless it shall be proved that, in connection with any such action
taken, suffered or omitted, the Trustee was negligent, acted in bad faith or engaged in willful
misconduct;

     (11) no provision of this Indenture shall require the Trustee to expend or risk its own funds
or otherwise incur any financial liability in the performance of any of its duties hereunder, or in
the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that
repayment of such funds or adequate indemnity against such risk or liability is not reasonably
assured to it; and

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

Section 602 Notice of Defaults

     Within 90 days after the occurrence of any default hereunder with respect to the Securities of
any series, the Trustee shall transmit by mail to all Holders of Securities of such series entitled
to receive reports pursuant to Section 703(3), notice of such default hereunder actually known to a
Responsible Officer of the Trustee, unless such default shall have been cured or waived; provided,
however, that, except in the case of a default in the payment of the principal of (or premium, if
any), or interest, if any, on, or Additional Amounts or any sinking fund or purchase fund
installment with respect to, any Security of such series, the Trustee shall be protected in
withholding such notice if and so long as the board of directors, the executive committee or a
trust committee of directors and/or Responsible Officers of the Trustee in good faith determine
that the withholding of such notice is in the best interest of the Holders of Securities and
Coupons of such series; and provided, further, that in the case of any default of the character
specified in Section 501(4) with respect to Securities of such series, no such notice to Holders
shall be given until at least 30 days after the occurrence thereof. For the purpose of this
Section, the term “default” means any event which is, or after notice or lapse of time or both
would become, an Event of Default with respect to Securities of such series.

Section 603 Not Responsible for Recitals or Issuance of Securities

     The recitals contained herein and in the Securities, except the Trustee’s certificate of
authentication, and in any Coupons shall be taken as the statements of the Company, and neither the
Trustee nor any Authenticating Agent assumes any responsibility for their correctness. The Trustee
makes no representations as to the validity or 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 and that
the statements made by it in a Statement of Eligibility on Form T-1, if necessary, supplied to the
Company are true and accurate, subject to the qualifications set forth therein. Neither the
Trustee nor any Authenticating Agent shall be accountable for the use or application by the Company
of the Securities or the proceeds thereof.

Section 604 May Hold Securities

     The Trustee, any Authenticating Agent, any Paying Agent, any Security Registrar or any other
Person that may be an 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 the Trustee, Authenticating Agent, Paying Agent, Security Registrar or such other
Person.

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Section 605 Money Held in Trust

     Except as provided in Section 403 and Section 1003, money held by the Trustee in trust
hereunder need not be segregated from other funds except to the extent required by law and shall be
held uninvested. The Trustee shall be under no liability for interest on any money received by it
hereunder except as otherwise agreed in writing with the Company.

Section 606 Compensation and Reimbursement

     The Company agrees:

     (1) to pay to the Trustee from time to time such compensation as shall be agreed in writing
between the Company and the Trustee for all services rendered by the Trustee 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 arising out of or in connection with the acceptance
or administration of the trust or trusts hereunder (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 willful misconduct; and

     (3) to indemnify each of the Trustee and any predecessor Trustee and its agents, officers,
directors and employees for, and to hold them harmless against, any loss, liability, damage, claim
or expense, including taxes (other than taxes based on the income of the Trustee), 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 (whether asserted by the Company, a Holder of Securities,
or any other Person) in connection with the exercise or performance of any of their powers or
duties hereunder, except to the extent that any such loss, liability or expense was due to the
Trustee’s negligence or willful misconduct.

     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.

     To the extent permitted by law any compensation or expense incurred by the Trustee after a
default specified in or pursuant to Section 501 is intended to constitute an expense of
administration under any then applicable bankruptcy or insolvency law. “Trustee” for purposes of
this Section 606 shall include any predecessor Trustee but the negligence or willful misconduct of
any Trustee shall not affect the rights of any other Trustee under this Section 606.

     The provisions of this Section 606 shall survive the satisfaction and discharge of this
Indenture or the earlier resignation or removal of the Trustee and shall apply with equal force

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and
effect to the Trustee in its capacity as Authenticating Agent, Paying Agent or Security Registrar.

Section 607 Corporate Trustee Required; Eligibility

     There shall at all times be a Trustee hereunder that is a Corporation, organized and doing
business under the laws of the United States of America, any state thereof or the District of
Columbia, eligible under Section 310(a)(1) of 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
subject to supervision or examination by Federal or state authority. 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 608 Resignation and Removal; Appointment of Successor

     (1) 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 609.

     (2) 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
Trustee required by Section 609 shall not have been delivered to the Trustee within 30 days after
the giving of such notice of resignation, the resigning Trustee may petition, at the expense of the
Company, any court of competent jurisdiction for the appointment of a successor Trustee with
respect to such series.

     (3) 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 the Company. If the instrument of acceptance by a successor Trustee
required by Section 609 shall not have been delivered to the Trustee within 30 days after the
giving of such notice of removal, the Trustee being removed may petition, at the expense of the
Company, any court of competent jurisdiction for the appointment of a successor Trustee with
respect to such series.

     (4) If at any time:

     (a) the Trustee shall fail to comply with the obligations imposed upon it under Section
310(b) of the Trust Indenture Act with respect to Securities of any series after written
request therefor by the Company or 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

     (b) the Trustee shall cease to be eligible under Section 607 and shall fail to resign
after written request therefor by the Company or any such Holder, or

     (c) 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,

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     then, in any such case,

     (i) the Company, by or pursuant to a Board Resolution, may remove the Trustee
with respect to all Securities or the Securities of such series, or

     (ii) subject to Section 315(e) of the Trust Indenture Act, 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.

     (5) 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 or pursuant to a Board Resolution, shall promptly appoint a successor
Trustee or Trustees with respect to the Securities of such 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 609. If,
within one year after such resignation, removal or incapacity, 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 609,
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 of
Securities and accepted appointment in the manner required by Section 609, 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.

     (6) 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 by mailing written notice of such event by first-class mail, postage
prepaid, to the Holders of Registered Securities, if any, of such series as their names and
addresses appear in the Security Register and, if Securities of such series are issued as Bearer
Securities, by publishing notice of such event once in an Authorized Newspaper in each Place of
Payment located outside the United States. 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.

     (7) In no event shall any retiring Trustee be liable for the acts or omissions of any
successor Trustee hereunder.

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Section 609 Acceptance of Appointment by Successor

     (1) Upon the appointment hereunder of any successor Trustee with respect to all Securities,
such successor Trustee so appointed shall execute, acknowledge and deliver to the Company and 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 such successor Trustee, such retiring
Trustee, upon payment of its charges, shall execute and deliver an instrument transferring to such
successor Trustee all the rights, powers and trusts of the retiring Trustee and, subject to Section
1003, 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 606.

     (2) Upon the appointment hereunder of any successor Trustee with respect to the Securities of
one or more (but not all) series, the Company, the retiring Trustee and such successor Trustee
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, such 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 continue 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, 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 supplemental indenture,
the resignation or removal of the retiring Trustee shall become effective to the extent provided
therein, such retiring Trustee shall have no further responsibility for the exercise of rights and
powers or for the performance of the duties and obligations vested in the Trustee under this
Indenture with respect to the Securities of that or those series to which the appointment of such
successor Trustee relates other than as hereinafter expressly set forth, and such successor
Trustee, without any further act, deed or conveyance, shall become vested with all the rights,
powers, trusts and duties of the retiring Trustee 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 such successor Trustee, such retiring Trustee, upon payment of its charges with respect to the
Securities of that or those series to which the appointment of such successor Trustee relates and
subject to Section 1003 shall duly assign, transfer and deliver to such successor Trustee, to the
extent contemplated by such supplemental indenture, the 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, subject to its claim, if any, provided for in Section 606.

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     (3) Upon request of any Person appointed hereunder as a 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 clause (1) or (2) of this
Section 609, as the case may be.

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

Section 610 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, 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 611 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 partial repayment or pursuant to Section 306, and
Securities so authenticated shall be entitled to the benefits of this Indenture and shall be valid
and obligatory for all purposes as if authenticated by the Trustee hereunder. Wherever reference
is made in this Indenture to the authentication and delivery of Securities by the Trustee or the
Trustee’s certificate of authentication, such reference shall be deemed to include authentication
and delivery on behalf of the Trustee by an Authenticating Agent and a certificate of
authentication executed on behalf of the Trustee by an Authenticating Agent.

     Each Authenticating Agent must 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 provisions 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 all or
substantially all of the corporate agency or corporate trust business of an Authenticating Agent,
shall be the successor of such Authenticating Agent hereunder, provided

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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 Authenticating 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.

     The provisions of Section 308, Section 603 and Section 604 shall be applicable to each
Authenticating Agent.

     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 substantially the following form:

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

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 ,	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	As Trustee	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	As Authenticating Agent	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	Authorized Officer	 	 

     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), shall appoint in accordance with

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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 612 Certain Duties and Responsibilities

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

     (2) Except during the continuance of an Event of Default, the Trustee undertakes to perform
such duties and only such duties as are specifically set forth in this Indenture, and no implied
covenants or obligations shall be read into this Indenture against the Trustee.

     (3) In case an Event of Default has occurred and is continuing, the Trustee shall exercise
such of the rights and powers vested in it by this Indenture, and use the same degree of care and
skill in their exercise, as a prudent person would exercise or use under the circumstances in the
conduct of such person’s own affairs.

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

     (a) this Subsection shall not be construed to limit the effect of subsection (a) of
this Section;

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

     (c) the Trustee shall not be liable with respect to any action taken or omitted to be
taken by it in good faith in accordance with the direction of the Holders of a majority in
principal amount of the Outstanding Securities relating to the time, method and place of
conducting any proceeding for any remedy available to the Trustee, or exercising any trust
or power conferred upon the Trustee, under this Indenture.

     (5) Whether or not therein expressly so provided, every provision of this Indenture relating
to the conduct or affecting the liability of or affording protection to the Trustee shall be
subject to the provisions of this Section.

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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

     (1) semi-annually with respect to Securities of each series not later than January 15 and July
15 of the 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 the applicable date,
and

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

     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(c) 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

     (1) The Trustee shall transmit to Holders such reports concerning the Trustee and its actions
under this Indenture as may be required pursuant to the Trust Indenture Act at the times and in the
manner provided pursuant thereto.

     (2) Reports so required to be transmitted at stated intervals of not more than 12 months shall
be transmitted no later than July 1 in each calendar year, commencing with the first July 1 after
the first issuance of Securities pursuant to this Indenture.

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

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Section 704 Reports by Company

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

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

ARTICLE EIGHT

Consolidation, Merger and Sales

Section 801 Company May Consolidate, Etc., Only on Certain Terms

     The Company shall not consolidate with or merge into, or sell, assign, transfer, lease, convey
or other dispose of all or substantially all of its assets and properties to, any entity or
entities (including limited liability companies) unless:

     (1) the successor entity or entities, each of which shall be an Entity organized and existing
under the laws of the United States of America, any state thereof or the District of Columbia,
shall expressly assume, by an indenture (or indentures, if at such time there is more than one
Trustee) supplemental hereto executed by the successor Person and delivered to the Trustee, the due
and punctual payment of the principal of, any premium and interest on and any Additional Amounts
with respect to all the Securities and the performance of every obligation in this Indenture and
the Outstanding Securities on the part of the Company to be performed or observed and shall provide
for conversion or exchange rights in accordance with the provisions of the Securities of any series
that are convertible or exchangeable into Stock or other securities, cash or other property;

     (2) immediately after giving effect to such transaction or series of transactions, no Event of
Default or event which, after notice or lapse of time, or both, would become an Event of Default,
shall have occurred and be continuing; and

     (3) either the Company or 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, if a supplemental indenture is required in connection with such
transaction, such supplemental indenture comply with this Article and that all conditions precedent
herein provided for relating to such transaction have been complied with.

     A conversion (pursuant to applicable corporate or limited liability company law of the
Company’s jurisdiction of incorporation or organization) of the Company from a corporation into a
limited liability company or from a limited liability company into a corporation shall not

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be
deemed to be a consolidation, merger or disposition subject to the requirements of the immediately
preceding paragraph, provided that such conversion complies with Section 1005.

Section 802 Successor Person Substituted for Company

     Upon any consolidation by the Company with or merger of the Company into any other Person or
Persons or any sale, assignment, transfer, lease, conveyance or other disposition of all or
substantially all of the properties and assets of the Company to any Person or Persons in
accordance with Section 801, the successor Person formed by such consolidation or into which the
Company is merged or to which such sale, assignment, transfer, lease, conveyance or other
disposition 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 the predecessor Person shall be released from all
obligations and covenants under this Indenture, the Securities and any Coupons.

ARTICLE NINE

Supplemental Indentures

Section 901 Supplemental Indentures without Consent of Holders

     Without the consent of any Holders of Securities or Coupons, the Company (when authorized by
or pursuant to 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 contained herein and in the Securities; or

     (2) to add to the covenants of the Company for the benefit of the Holders of all or any series
of Securities (as shall be specified in such supplemental indenture or indentures) or to surrender
any right or power herein conferred upon the Company; or

     (3) 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 Bearer Securities to be issued in exchange for Registered 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 adversely affect the interests of the Holders of Outstanding Securities of any series or
any Coupons appertaining thereto in any material respect; or

     (4) to establish the form or terms of Securities of any series and any Coupons appertaining
thereto as permitted by Section 201 and Section 301; or

     (5) 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

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administration of the
trusts hereunder by more than one Trustee, pursuant to the requirements of Section 609; or

     (6) to cure any ambiguity or 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 which shall not adversely affect the
interests of the Holders of Securities of any series then Outstanding or any Coupons appertaining
thereto in any material respect; or

     (7) 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

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

     (9) 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 adversely affect the interests of any Holder
of an Outstanding Security of such series and any Coupons appertaining thereto or any other
Security or Coupon in any material respect; or

     (10) to secure the Securities; or

     (11) to make provisions with respect to conversion or exchange rights of Holders of Securities
of any series; or

     (12) to amend or supplement any provision contained herein or in any supplemental indenture,
provided that no such amendment or supplement shall materially adversely affect the interests of
the Holders of any Securities then Outstanding; or

     (13) to qualify the Indenture under the Trust Indenture Act.

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
Outstanding Securities of each series affected by such supplemental indenture, by Act of said
Holders delivered to the Company and the Trustee, the Company (when authorized by or pursuant to 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 or of the Securities of such series; provided, however, that no
such supplemental indenture, without the consent of the Holder of each Outstanding Security of the
series affected thereby, shall

     (1) change the Stated Maturity of the principal of, or any premium or installment of interest
on or any Additional Amounts with respect to, any Security of such series, or reduce the principal
amount thereof or the rate (or modify the calculation of such rate) of interest thereon or

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any
Additional Amounts with respect thereto, or any premium payable upon the redemption thereof or
otherwise, or change the obligation of the Company to pay Additional Amounts pursuant to Section
1004 (except as contemplated by Section 801(1) and permitted by Section 901(1)), 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, change the redemption provisions or adversely
affect the right of repayment at the option of any Holder as contemplated by Article Thirteen, or
change the Place of Payment, Currency (other than as a result of a Currency Event) in which the
principal of, any premium or interest on, or any Additional Amounts with respect to any Security of
such series 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) modify any of the provisions of this Section, Section 513 or Section 1006, except to
increase any such percentage 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, or

     (4) make any change that adversely affects, in any material respect, the right to convert or
exchange any Security into or for Stock or other securities, cash or other property in accordance
with the terms of such Security.

     A supplemental indenture which changes or eliminates any covenant or other provision of this
Indenture which shall have been included expressly and 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.

     A supplemental indenture which changes any covenant or other provision of this Indenture
solely with respect to one or more particular series of Securities, or which only modifies the
rights of the Holders of such series with respect to any covenant or other provision, and which
does not otherwise adversely affect the Holders of Securities of any other series shall be deemed
not to affect the rights under this Indenture of the Holders of Securities of such other series.

     It shall not be necessary for any Act of Holders of Securities 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 trust created by this
Indenture, the Trustee shall be entitled to receive, and (subject to Section 315 of the Trust
Indenture Act) shall be fully protected in relying upon, an Officers’ Certificate and Opinion of
Counsel stating that the execution of such supplemental indenture is authorized or permitted by
this Indenture. The Trustee may, but shall not be obligated to, enter into any such supplemental
indenture which affects the Trustee’s own rights, duties or immunities under this Indenture or
otherwise.

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 (i) such supplemental indenture shall form a part of this
Indenture for all purposes and (ii) every Holder of a Security theretofore or thereafter
authenticated and delivered hereunder and of any Coupon appertaining thereto shall be bound
thereby; subject, in the case of clauses (i) and (ii), to the penultimate paragraph of Section 902.

Section 905 Reference in Securities to Supplemental Indentures

     Securities of any series authenticated and delivered after the execution of any supplemental
indenture pursuant to this Article may, 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 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
of such series. Any failure to make the appropriate notation or to issue a new Security shall not
impair or affect the validity and effect of such supplemental indenture.

Section 906 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 907 Notice of Supplemental Indenture

     Promptly after the execution by the Company and the Trustee of any supplemental indenture
pursuant to Section 902, the Company shall transmit to the Holders of Outstanding Securities of any
series affected thereby a notice setting forth the substance of such supplemental indenture. Any
failure of the Company to give such notice, or any defect therein, shall not, however, in any way
impair or affect the validity and effect of such supplemental indenture.

Section 908 Subordination Unimpaired

     No provision in any supplemental indenture which affects the superior position of the holders
of Senior Debt shall be effective against holders of Senior Debt.

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ARTICLE TEN

Covenants

Section 1001 Payment of Principal, any Premium, Interest and Additional Amounts

     The Company covenants and agrees for the benefit of the Holders of the Securities of each
series that it will duly and punctually pay the principal of, any premium and interest on and any
Additional Amounts with respect to the Securities of such series in accordance with the terms
thereof, any Coupons appertaining thereto and this Indenture. Any interest due on any Bearer
Security on or before the Maturity thereof, and any Additional Amounts payable with respect to such
interest, shall be payable only upon presentation and surrender of the Coupons appertaining thereto
for such interest as they severally mature.

Section 1002 Maintenance of Office or Agency

     The Company shall maintain in each Place of Payment for any series of Securities an Office or
Agency where Securities of such series (but not Bearer Securities, except as otherwise provided
below, unless such Place of Payment is located outside the United States) may be presented or
surrendered for payment, where Securities of such series may be surrendered for registration of
transfer or exchange, where Securities of such series that are convertible or exchangeable may be
surrendered for conversion or exchange, and where notices and demands to or upon the Company in
respect of the Securities of such series relating thereto and this Indenture may be served. If
Securities of a series are issuable as Bearer Securities, the Company shall maintain, subject to
any laws or regulations applicable thereto, an Office or Agency in a Place of Payment for such
series which is located outside the United States where Securities of such series and any Coupons
appertaining thereto may be presented and surrendered for payment; provided, however, that if the
Securities of such series are listed on The Stock Exchange of the United Kingdom and the Republic
of Ireland or the Luxembourg Stock Exchange or any other stock exchange located outside the United
States and such stock exchange shall so require, the Company shall maintain a Paying Agent in
London, Luxembourg or any other required city located outside the United States, as the case may
be, so long as the Securities of such series are listed on such exchange. The Company will give
prompt written notice to the Trustee of the location, and any change in the location, of such
Office or Agency. If at any time the Company shall fail to maintain any such required Office or
Agency or shall fail to furnish the Trustee with the address thereof, such presentations,
surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee,
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,
premium, interest or Additional Amounts with respect to Bearer Securities shall be made at any
Office or Agency in the United States or by check mailed to any address in the United States or by
transfer to an account maintained with a bank located in the United States; provided, however, if
amounts owing with respect to any Bearer Securities shall be payable in Dollars, payment of
principal of, any premium or interest on and any Additional Amounts with respect to any such

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Security may be made at the Corporate Trust Office of the Trustee or any Office or Agency
designated by the Company in the Borough of Manhattan, The City of New York, if (but only if)
payment of the full amount of such principal, premium, interest or Additional Amounts at all
offices outside the United States maintained for such 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 of one or more series may be presented or surrendered for any or all such purposes
and may from time to time rescind such designations; provided, however, that no such designation or
rescission shall in any manner relieve the Company of its obligation to maintain an Office or
Agency in each Place of Payment for Securities of any series for such
purposes. The Company shall 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 of Securities the Borough of Manhattan, The City of New York,
and initially appoints the Corporate Trust Office of the Trustee located at ___,
New York, New York ___as the Office or Agency of the Company in the Borough of Manhattan, The
City of New York for such purpose. The Company may subsequently appoint a different Office or
Agency in the Borough of Manhattan, The City of New York for the Securities of any series.

     Unless otherwise specified with respect to any Securities pursuant to Section 301, if and so
long as the Securities of any series (i) are denominated in a Foreign Currency or (ii) may be
payable in a Foreign Currency, or so long as it is required under any other provision of this
Indenture, then the Company will maintain with respect to each such series of Securities, or as so
required, at least one exchange rate agent.

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, any premium or interest on or
Additional Amounts with respect to any of the Securities of such series, segregate and hold in
trust for the benefit of the Persons entitled thereto a sum in the currency or currencies, currency
unit or units or composite currency or currencies in which the Securities of such series are
payable (except as otherwise specified pursuant to Section 301 for the Securities of such series)
sufficient to pay the principal or any premium, 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 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 (in the currency or currencies, currency unit or units or composite currency or currencies
described in the preceding paragraph) 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

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the Persons
entitled thereto, and (unless such Paying Agent is the Trustee) the Company will 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, any premium or interest on
or any Additional Amounts with respect to Securities of such series in trust for the benefit of the
Persons entitled thereto until such sums shall be paid to such Persons or otherwise disposed of as
provided in or pursuant to this Indenture;

     (2) give the Trustee notice of any default by the Company (or any other obligor upon the
Securities of such series) in the making of any payment of principal, any premium 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 terms 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 sums.

     Except as otherwise provided herein or pursuant hereto, 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, any
premium or interest on or any Additional Amounts with respect to any Security of any series or any
Coupon appertaining thereto and remaining unclaimed for two years after such principal or any such
premium or interest or any such 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 or any Coupon appertaining thereto shall thereafter, as an
unsecured general creditor, look only to the Company for payment thereof, and all liability of the
Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as
trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent,
before being required to make any such repayment, may at the expense of the Company cause to be
published once, in an Authorized Newspaper in each Place of Payment for such series or to be mailed
to Holders of Registered Securities of such series, or both, 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 two 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.

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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 in or pursuant to this Indenture or such Securities. 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, 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,
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 or the Securities of the
applicable series, 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 and premium, if
any, 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 Legal Existence

     Subject to Article Eight, the Company shall do or cause to be done all things necessary to
preserve and keep in full force and effect its legal existence. The Company shall be permitted to
effect a conversion (pursuant to applicable corporate or limited liability company law of the
Company’s jurisdiction of incorporation or organization) of the Company from a corporation into a
limited liability company or from a limited liability company into a corporation, provided that,
pursuant to applicable corporate or limited liability company law of the Company’s jurisdiction of
incorporation or organization, such conversion shall not be deemed to affect any obligations or
liabilities of the Company incurred prior to such conversion (including obligations or liabilities
with respect to the Securities). Notice of any such conversion shall be promptly delivered to the
Trustee.

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Section 1006 Waiver of Certain Covenants

     The Company may omit in any particular instance to comply with any term, provision or
condition set forth in Sections 1002 to 1005, inclusive with respect to the Securities of any
series if before the time for such compliance the Holders of at least a majority in principal
amount of the Outstanding Securities of such series, by Act of such Holders, either shall waive
such compliance in such instance or generally shall have waived 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.

Section 1007 Company Statement as to Compliance; Notice of Certain Defaults

     (1) 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

     (a) a review of the activities of the Company during such year and of its performance
under this Indenture has been made under his or her supervision, and

     (b) to the best of his or her knowledge, based on such review, (i) 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 (ii) 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 or her and the nature and status
thereof.

     (2) The Company shall deliver to the Trustee, within 10 days after the occurrence thereof,
written notice of any Event of Default or any event which after notice or lapse of time or both
would become an Event of Default pursuant to clause (5) of Section 501.

     (3) The Trustee shall have no duty to monitor the Company’s compliance with the covenants
contained in this Article Ten to other than as specifically set forth in the this Section 1007.

Section 1008 Calculation of Original Issue Discount

     The Company shall file with the Trustee promptly at the end of each calendar year (i) a
written notice specifying the amount of original issue discount (including daily rates and accrual
periods) accrued on Outstanding Securities as of the end of such year and (ii) such other specific
information relating to such original issue discount as may then be relevant under the Internal
Revenue Code of 1986, as amended from time to time.

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ARTICLE ELEVEN

Redemption of Securities

Section 1101 Applicability of Article

     Redemption of Securities of any series at the option of the Company as permitted or required
by the terms of such Securities shall be made in accordance with the terms of such Securities and
(except as otherwise provided herein or pursuant hereto) this Article.

Section 1102 Election to Redeem; Notice to Trustee

     The election of the Company to optionally redeem any Securities shall be evidenced by or
pursuant to a Board Resolution. In case of any redemption at the election of the Company of (a)
less than all of the Securities of any series or (b) all of the Securities of any series with the
same issue date, interest rate or formula, Stated Maturity and other terms, 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.

Section 1103 Selection by Trustee of Securities to be Redeemed

     If less than all of the Securities of any series with the same issue date, interest rate or
formula, Stated Maturity and other terms are to be redeemed, the particular Securities to be
redeemed shall be selected not more than 60 days prior to the Redemption Date by the Trustee from
the Outstanding Securities of such series not previously called for redemption, by such method as
the Trustee shall deem fair and appropriate and which may provide for the selection for redemption
of portions of the principal amount of Registered Securities of such series; provided, however,
that no such partial redemption shall reduce the portion of the principal amount of a Registered
Security of such series not redeemed to less than the minimum denomination for a Security of such
series established herein or pursuant hereto.

     The Trustee shall promptly notify the Company and the Security Registrar (if other than
itself) in writing of the Securities 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 of such Securities which has been or is
to be redeemed.

     Unless otherwise specified in or pursuant to this Indenture or the Securities of any series,
if any Security selected for partial redemption is converted into or exchanged for Common Stock or
other securities, cash or other property in part before termination of the conversion or exchange
right with respect to the portion of the Security so selected, the converted portion of such
Security shall be deemed (so far as may be) to be the portion selected for redemption. Securities
which have been converted or exchanged during a selection of Securities to be redeemed shall be
treated by the Trustee as Outstanding for the purpose of such selection.

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Section 1104 Notice of Redemption

     Notice of redemption shall be given in the manner provided in Section 106, 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 the Holders of Securities to be redeemed. Failure to give notice by
mailing in the manner herein provided to the Holder of any Registered Securities designated for
redemption as a whole or in part, or any defect in the notice to any such Holder, shall not affect
the validity of the proceedings for the redemption of any other Securities or portion thereof.

     Any notice that is mailed to the Holder of any Registered Securities in the manner herein
provided shall be conclusively presumed to have been duly given, whether or not such Holder
receives the notice.

     All notices of redemption shall state:

     (1) the Redemption Date,

     (2) the Redemption Price,

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

     (4) in case any Security is to be redeemed in part only, the notice which relates to such
Security shall state that on and after the Redemption Date, upon surrender of such Security, the
Holder of such Security will receive, without charge, a new Security or Securities of authorized
denominations for the principal amount thereof remaining unredeemed,

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

     (6) the place or places where such Securities, together (in the case of Bearer Securities)
with all Coupons appertaining thereto, if any, maturing after the Redemption Date, are to be
surrendered for payment of the Redemption Price and any accrued interest and Additional Amounts
pertaining thereto,

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

     (8) that, unless otherwise specified in such notice, Bearer Securities of any series, if any,
surrendered for redemption must be accompanied by all Coupons maturing subsequent to the date fixed
for redemption or the amount of any such missing Coupon or Coupons will be deducted from the
Redemption Price, unless security or indemnity satisfactory to the Company, the Trustee and any
Paying Agent is furnished,

     (9) if Bearer Securities of any series are to be redeemed and any Registered Securities of
such series are not to be redeemed, and if such Bearer Securities may be exchanged for Registered
Securities not subject to redemption on the Redemption Date pursuant to Section 305

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or otherwise,
the last date, as determined by the Company, on which such exchanges may be made,

     (10) in the case of Securities of any series that are convertible or exchangeable into Stock
or other securities, cash or other property, the conversion or exchange price or rate, the date or
dates on which the right to convert or exchange the principal of the Securities of such series to
be redeemed will commence or terminate and the place or places where such Securities may be
surrendered for conversion or exchange, and

     (11) the CUSIP number or the Clearstream Banking, société anonyme, or Euroclear Bank
S.A./N.V., as operator of the Euroclear System, reference numbers of such Securities, if any (or
any other numbers used by a Depository to identify such Securities).

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

Section 1105 Deposit of Redemption Price

     At or prior to 10:00 a.m., New York City time, on any Redemption Date, the Company shall
deposit, with respect to the Securities of any series called for redemption pursuant to Section
1104, 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
applicable Currency sufficient to pay the Redemption Price of, and (except if the Redemption Date
shall be an Interest Payment Date, unless otherwise specified pursuant to Section 301 or in the
Securities of such series) any accrued interest on and Additional Amounts with respect thereto, all
such Securities or portions thereof which are to be redeemed on that date. If any Security called
for redemption is converted or exchanged in accordance with the terms of such Security, any money
deposited with the Trustee or with a Paying Agent (or, if the Company is acting as its own Paying
Agent, so segregated and held in trust) for the redemption of such Security shall (subject to the
right of any Holder of such Security to receive interest as provided in the last paragraph of
Section 307) be paid to the Company on Company Request, or if then held by the Company, shall be
discharged from such trust.

Section 1106 Securities Payable on Redemption Date

     Notice of redemption having been given as aforesaid, the Securities so to be redeemed shall,
on the Redemption Date, become due and payable at the Redemption Price therein specified, and from
and after such date (unless the Company shall default in the payment of the Redemption Price and
accrued interest) such Securities shall cease to bear interest and the Coupons for such interest
appertaining to any Bearer Securities so to be redeemed, except to the extent provided below, shall
be void. Upon surrender of any such Security for redemption in accordance with said notice,
together with all Coupons, if any, appertaining thereto maturing after the Redemption Date, such
Security shall be paid by the Company at the Redemption Price, together with any accrued interest
and Additional Amounts to the Redemption Date (except if the Redemption Date shall be an Interest
Payment Date, unless otherwise specified pursuant to Section 301 or in the Securities of such
series); provided, however, that, except as otherwise provided in or pursuant to this Indenture or
the Bearer Securities of such series, installments of

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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, except as otherwise
specified in or pursuant to this Indenture or the Registered Securities of such series,
installments of interest on Registered Securities whose Stated Maturity is prior to the Redemption
Date shall be payable to the Holders of such Securities, or one or more Predecessor Securities,
registered as such at the close of business on the Regular Record Dates therefor 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 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 Paying Agent harmless. If thereafter the Holder of such 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 for such Security located outside of the United States except as otherwise provided in
Section 1002.

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

Section 1107 Securities Redeemed in Part

     Any Registered Security which is to be redeemed only in part shall be surrendered at any
Office or Agency for such Security (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 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 so surrendered. If a Security in global form is so surrendered, 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.

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ARTICLE TWELVE

Sinking Funds

Section 1201 Applicability of Article

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

     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 such 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 payment shall be applied to the redemption of Securities of any series as
provided for by the terms of Securities of such series and this Indenture.

Section 1202 Satisfaction of Sinking Fund Payments with Securities

     The Company may, in satisfaction of all or any part of any sinking fund payment with respect
to the Securities of any series to be made pursuant to the terms of such Securities (1) deliver
Outstanding Securities of such series (other than any of such Securities 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) apply as a credit Securities of such series which have been redeemed
either at the election of the Company pursuant to the terms of such series of Securities or through
the application of permitted optional sinking fund payments pursuant to the terms of such
Securities, 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. If as a result of the delivery or credit of Securities
of any series in lieu of cash payments pursuant to this Section 1202, the principal amount of
Securities of such series to be redeemed in order to satisfy the remaining sinking fund payment
shall be less than $100,000, the Trustee need not call Securities of such series for redemption,
except upon Company Request, and such cash payment shall be held by the Trustee or a Paying Agent
and applied to the next succeeding sinking fund payment, provided, however, that the Trustee or
such Paying Agent shall at the request of the Company from time to time pay over and deliver to the
Company any cash payment so being held by the Trustee or such Paying Agent upon delivery by the
Company to the Trustee of Securities of that series purchased by the Company having an unpaid
principal amount equal to the cash payment requested to be released to the Company.

Section 1203 Redemption of Securities for Sinking Fund

     Not less than 75 days prior to each sinking fund payment date for any series of Securities,
the Company shall 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,

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the
portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if
any, which is to be satisfied by delivering and crediting of Securities of that series pursuant to
Section 1202, and the optional amount, if any, to be added in cash to the next ensuing mandatory
sinking fund payment, and will also deliver to the Trustee any Securities to be so credited and not
theretofore delivered. If such Officers’ Certificate shall specify an optional amount to be added
in cash to the next ensuing mandatory sinking fund payment, the Company shall thereupon be
obligated to pay the amount therein specified. Not less than 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 Section 1106 and Section 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 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.

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, then in the absence of any
provision to the contrary pursuant to this Indenture or the Securities of any particular series,
any amount in respect of any Security denominated in a Foreign Currency shall be treated for any
such action, determination of rights or distribution as that amount of Dollars that could be
obtained for such amount on such reasonable basis of exchange and as of the record date with

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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 or, in the absence of such written notice, as the
Trustee may determine.

ARTICLE FIFTEEN

Meetings of Holders of Securities

Section 1501 Purposes for Which Meetings May Be Called

     A meeting of Holders of Securities of any 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 Act provided by this Indenture to be made, given
or taken by Holders of Securities of such series.

Section 1502 Call, Notice and Place of Meetings

     (1) 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 have been issued in whole or in
part as Bearer Securities, in London or in such place outside the United States 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.

     (2) 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 mailed notice of or made the first publication
of the notice of such meeting within 21 days after receipt of such request (whichever shall be
required pursuant to Section 106) 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 have been issued in whole or in
part as Bearer Securities, in London for such meeting and may call such meeting for such purposes
by giving notice thereof as provided in clause (1) 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

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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 at least 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 further adjourned for a
period of not less than 10 days as determined by the chairman of the meeting prior to the
adjournment of such adjourned meeting. Notice of the reconvening of any adjourned meeting shall be
given as provided in Section 1502(1), 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 presented to a meeting or
adjourned meeting duly reconvened at which a quorum is present as aforesaid may be adopted only by
the affirmative vote of the Holders of 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 at least 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 Act 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 such Holders were present or
represented at the meeting.

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Section 1505 Determination of Voting Rights; Conduct and Adjournment of Meetings

     (1) 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.

     (2) 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
provided in Section 1502(2), 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.

     (3) Unless otherwise specified in or pursuant to this Indenture or any Securities, 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.

     (4) 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 signatures of the Holders of
Securities of such series or of their representatives by proxy and the principal amounts and serial
numbers 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 permanent 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 permanent secretary of the meeting and there

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shall be attached to
said record the original reports of the inspectors of votes on any vote by ballot taken thereat and
affidavits by one or more Persons having knowledge of the facts setting forth a copy of the notice
of the meeting and showing that said notice was given as provided in Section 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.

ARTICLE SIXTEEN

Subordination

Section 1601 Securities Subordinate to Senior Debt

     Except as otherwise provided in a supplemental indenture or pursuant to Section 301, the
Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise
covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article,
the indebtedness represented by the Securities and the payment of the principal of and any premium,
interest and Additional Amounts on each and all of the Securities are hereby expressly made
subordinate and subject in right of payment to the prior payment in full of all Senior Debt..

Section 1602 Payment Over of Proceeds Upon Dissolution, Etc.

     In the event of (a) any insolvency or bankruptcy case or proceeding, or any receivership,
liquidation, reorganization, debt restructuring or other similar case or proceeding in connection
therewith, relative to the Company as such, or to its assets, or (b) any liquidation, dissolution
or other winding up of the Company, whether voluntary or involuntary and whether or not involving
insolvency or bankruptcy, or (c) any assignment for the benefit of creditors or any other
marshalling of assets and liabilities of the Company, then and in any such event the holders of
Senior Debt shall be entitled to receive payment in full of all amounts due or to become due on or
in respect of all Senior Debt, or provision shall be made for such payment in money or money’s
worth, before the Holders of the Securities are entitled to receive any payment on account of
principal of or any premium, interest or Additional Amounts on the Securities, and to that end the
holders of Senior Debt or their representative or representatives or the trustee or trustees under
any indenture under which any instruments evidencing any of such Senior Debt may have been issued
shall be entitled to receive, for application to the payment thereof, any payment or distribution
of any kind or character, whether in cash, property or securities, which may be payable or
deliverable in respect of the Securities in any such case, proceeding, dissolution, liquidation or
other winding up or event, to the extent necessary to pay all Senior Debt in full, after giving
effect to any concurrent payment or distribution to or for the holders of Senior Debt.

     In the event that, notwithstanding the foregoing provisions of this Section, the Trustee or
the Holder of any Security shall have received, as such, any payment or distribution of assets of
the Company of any kind or character, whether in cash, property or securities, before all Senior
Debt is paid in full or payment thereof provided for, then and in such event such payment or

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distribution shall be paid over or delivered forthwith to the trustee in bankruptcy, receiver,
liquidating trustee, custodian, assignee, agent or other Person making payment or distribution of
assets of the Company for application to the payment of all Senior Debt remaining unpaid, to the
extent necessary to pay all Senior Debt in full, after giving effect to any concurrent payment or
distribution to or for the holders of Senior Debt.

     For purposes of this Article only, the words “cash, property or securities” shall not be
deemed to include shares of stock of the Company as reorganized or readjusted, or securities of the
Company or any other Corporation provided for by a plan of reorganization or readjustment
which are subordinated in right of payment to all Senior Debt which may at the time be
outstanding to substantially the same extent as, or to a greater extent than, the Securities are so
subordinated as provided in this Article. The consolidation of the Company with, or the merger of
the Company into, another Person or the sale, assignment, transfer, lease or conveyance or other
disposition of all or substantially all of its assets and properties to another Person upon the
terms and conditions set forth in Article Eight, or the liquidation or dissolution of the Company
subsequent thereto, shall not be deemed a dissolution, winding up, liquidation, reorganization,
assignment for the benefit of creditors or marshalling of assets and liabilities of the Company for
the purposes of this Section if the Person formed by such consolidation or into which the Company
is merged or which acquires by conveyance or transfer all or substantially all of such assets and
properties substantially as an entirety, as the case may be, shall, as a part of such
consolidation, merger, sale, assignment, transfer, lease or conveyance, comply with the conditions
set forth in Article Eight.

Section 1603 Prior Payment to Senior Debt Upon Acceleration of Securities

     In the event that any Securities are accelerated upon an Event of Default and thereby become
due and payable before their Stated Maturity, then and in such event the holders of the Senior Debt
outstanding at the time such Securities so become due and payable shall be entitled to receive
payment in full of all amounts due or to become due on or in respect of all Senior Debt, or
provision shall be made for such payment in money or money’s worth before the Holders of the
Securities are entitled to receive any payment by the Company on account of the principal of or any
premium, interest or Additional Amounts on the Securities or on account of the purchase or other
acquisition of Securities; provided, however, that nothing in this Section shall prevent the
satisfaction of any sinking fund payment in accordance with Article Twelve by delivering and
crediting pursuant to Section 1202 Securities which have been acquired (upon redemption or
otherwise) prior to such declaration of acceleration or which have been converted or exchanged if
the terms of such Securities provide for such conversion or exchange pursuant to Section 301.

     In the event that, notwithstanding the foregoing, the Company shall make any payment to the
Trustee or the Holder of any Security prohibited by the foregoing provisions of this Section, and
if such fact shall, at or prior to the time of such payment, have been made known to the Trustee
or, as the case may be, such Holder, then and in such event such payment shall be paid over and
delivered forthwith to the Company.

     The provisions of this Section shall not apply to any payment with respect to which Section
1602 would be applicable.

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Section 1604 No Payment when Senior Debt in Default

     (a) In the event and during the continuation of any default in the payment of principal of or
any premium, interest or additional amounts on any Senior Debt during or beyond any applicable
grace period with respect thereto, or in the event that any default with respect to any Senior Debt
shall have occurred and be continuing permitting the holders of such Senior Debt (or a trustee on
behalf of the holders thereof) to declare such Senior Debt due and payable prior to the date on
which it would otherwise have become due and payable, unless and until such default shall have been
cured or waived or shall have ceased to exist and, if any such Senior Debt shall
have been accelerated, such acceleration shall have been rescinded or annulled, or (b) in the
event any judicial proceeding shall be pending with respect to any such default, then no payment
shall be made by the Company on account of principal of or any premium, interest or Additional
Amounts on the Securities or on account of the purchase or other acquisition of Securities;
provided, however, that nothing in this Section shall prevent the satisfaction of any sinking fund
payment in accordance with Article Twelve by delivering and crediting pursuant to Section 1202
Securities which have been acquired (upon redemption or otherwise) prior to any such default or
which have been converted or exchanged if the terms of such Securities provide for such conversion
or exchange pursuant to Section 301.

     In the event that, notwithstanding the foregoing, the Company shall make any payment to the
Trustee or the Holder of any Security prohibited by the foregoing provisions of this Section, and
if such fact shall, at or prior to the time of such payment, have been made known to the Trustee
or, as the case may be, such Holder, then and in such event such payment shall be paid over and
delivered forthwith to the Company.

     The provisions of this Section shall not apply to any payment with respect to which Section
1602 would be applicable.

Section 1605 Payment Permitted if no Default

     Nothing contained in this Article or elsewhere in this Indenture or in any of the Securities
shall prevent (a) the Company, at any time except during the pendency of any case, proceeding,
dissolution, liquidation or other winding up, debt restructuring, assignment for the benefit of
creditors or other marshalling of assets and liabilities of the Company referred to in Section 1602
or under the conditions described in Section 1603 or 1604, from making payments at any time of
principal of and any premium, interest or Additional Amounts on the Securities, or (b) the
application by the Trustee of any money deposited with it hereunder to the payment of or on account
of the principal of and any premium, interest or Additional Amounts on the Securities or the
retention of such payment by the Holders, if, at the time of such application by the Trustee, it
did not have knowledge that such payment would have been prohibited by the provisions of this
Article.

Section 1606 Subrogation to Rights of Holders of Senior Debt

     Subject to the payment in full of all Senior Debt, the Holders of the Securities shall be
subrogated to the rights of the holders of such Senior Debt to receive payments and distributions
of cash, property and securities applicable to the Senior Debt until the principal of and any
premium, interest and Additional Amounts on the Securities shall be paid in full. For purposes of
such subrogation, no payments or distributions to the holders of the Senior Debt of any cash,

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property or securities to which the Holders of the Securities or the Trustee would be entitled
except for the provisions of this Article, and no payments over pursuant to the provisions of this
Article to the holders of Senior Debt by Holders of the Securities or the Trustee, shall, as among
the Company, its creditors other than holders of Senior Debt and the Holders of the Securities, be
deemed to be a payment or distribution by the Company to or on account of the Senior Debt.

Section 1607 Provisions Solely to Define Relative Rights

     The provisions of this Article are and are intended solely for the purpose of defining the
relative rights of the Holders of the Securities on the one hand and the holders of Senior Debt on
the other hand. Nothing contained in this Article or elsewhere in this Indenture or in the
Securities is intended to or shall (a) impair, as among the Company, its creditors other than
holders of Senior Debt and the Holders of the Securities, the obligation of the Company, which is
absolute and unconditional (and which, subject to the rights under this Article of the holders of
Senior Debt, is intended to rank equally with all other general obligations of the Company), to pay
to the Holders of the Securities the principal of and any premium, interest and Additional Amounts
on the Securities as and when the same shall become due and payable in accordance with their terms;
or (b) affect the relative rights against the Company of the Holders of the Securities and
creditors of the Company other than the holders of Senior Debt; or (c) prevent the Trustee or the
Holder of any Security from exercising all remedies otherwise permitted by this Indenture and
applicable law upon default under this Indenture, subject to the rights, if any, under this Article
of the holders of Senior Debt to receive cash, property and securities otherwise payable or
deliverable to the Trustee or such Holder.

Section 1608 Trustee to Effectuate Subordination

     Each Holder of a Security by its acceptance thereof authorizes and directs the Trustee on its
behalf to take such action as may be necessary or appropriate to effectuate the subordination
provided in this Article and appoints the Trustee its attorney-in-fact for any and all such
purposes.

Section 1609 No Waiver of Subordination Provisions

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

     Without in any way limiting the generality of the foregoing paragraph, the holders of Senior
Debt may, at any time and from time to time, without the consent of or notice to the Trustee or the
Holders of the Securities, without incurring responsibility to the Holders of the Securities and
without impairing or releasing the subordination provided in this Article or the obligations
hereunder of the Holders of the Securities to the holders of Senior Debt, do any one or more of the
following: (i) change the manner, place or terms of payment or extend the time of payment of, or
renew or alter, Senior Debt, or otherwise amend or supplement in any manner Senior Debt or any
instrument evidencing the same or any agreement under which Senior Debt is outstanding; (ii) sell,
exchange, release or otherwise dispose of any property pledged, mortgaged

80

 

or otherwise securing
Senior Debt; (iii) release any Person liable in any manner for the collection of Senior Debt; and
(iv) exercise or refrain from exercising any rights against the Company and any other Person.

Section 1610 Notice to Trustee

     The Company shall give prompt written notice to the Trustee of any fact known to the Company
which would prohibit the making of any payment to or by the Trustee in respect of the Securities.
Notwithstanding the provisions of this Article or any other provision of this Indenture, the
Trustee shall not be charged with knowledge of the existence of any facts which would prohibit the
making of any payment to or by the Trustee in respect of the Securities, unless and until the
Trustee shall have received written notice thereof from the Company or a holder of Senior Debt or
from any trustee therefor; and, prior to the receipt of any such written notice, the Trustee,
subject to the provisions of Section 612, shall be entitled in all respects to assume that no such
facts exist; provided, however, that if the Trustee shall not have received the notice provided for
in this Section at least two Business Days prior to the date upon which by the terms hereof any
money may become payable for any purpose (including, without limitation, the payment of the
principal of and any premium, interest or Additional Amounts on any Security), then, anything
herein contained to the contrary notwithstanding, the Trustee shall have full power and authority
to receive such money and to apply the same to the purpose for which such money was received and
shall not be affected by any notice to the contrary which may be received by it within two Business
Days prior to such date.

Section 1611 Reliance on Judicial Order or Certificate of Liquidating Agent

     Upon any payment or distribution of assets of the Company referred to in this Article, the
Trustee, subject to the provisions of Section 612, and the Holders of the Securities shall be
entitled to rely upon any order or decree entered by any court of competent jurisdiction in which
such insolvency, bankruptcy, receivership, liquidation, reorganization, dissolution, winding up or
similar case or proceeding is pending, or a certificate of the trustee in bankruptcy, receiver,
liquidating trustee, custodian, assignee for the benefit of creditors, agent or other Person making
such payment or distribution, delivered to the Trustee or to the Holders of Securities, for the
purpose of ascertaining the Persons entitled to participate in such payment or distribution, the
holders of the Senior Debt and other indebtedness of the Company, the amount thereof or payable
thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or
to this Article.

Section 1612 Trustee Not a Fiduciary for Holders of Senior Debt

     The Trustee, in its capacity as trustee under this Indenture, shall not be deemed to owe any
fiduciary duty to the holders of Senior Debt and shall not be liable to any such holders if it
shall in good faith mistakenly pay over or distribute to Holders of Securities or to the Company or
to any other Person cash, property or securities to which any holders of Senior Debt shall be
entitled by virtue of this Article or otherwise.

Section 1613 Right of Trustee as Holder of Senior Debt; Preservation of Trustee’s Rights

     The Trustee in its individual capacity shall be entitled to all the rights set forth in this
Article with respect to any Senior Debt which may at any time be held by it, to the same extent

81

 

as
any other holder of Senior Debt, and nothing in this Indenture shall deprive the Trustee of any of
its rights as such holder.

     Nothing in this Article shall apply to claims of, or payments to, the Trustee under or
pursuant to Section 606.

Section 1614 Article Applicable to Paying Agents

     In case at any time any Paying Agent other than the Trustee shall have been appointed by the
Company and be then acting hereunder, the term “Trustee” as used in this Article shall in such case
(unless the context otherwise requires) be construed as extending to and including such Paying
Agent within its meaning as fully for all intents and purposes as if such Paying Agent were named
in this Article in addition to or in place of the Trustee; provided, however, that Section 1613
shall not apply to the Company or any Affiliate of the Company if it or such Affiliate acts as
Paying Agent.

Section 1615 Certain Conversions and Exchanges Deemed Payment

     For the purposes of this Article only, (i) the issuance and delivery of junior securities upon
conversion of or in exchange for Securities of a series established pursuant to Section 301(9) in
accordance with the terms and conditions established for such series for such conversion or
exchange shall not be deemed to constitute a payment or distribution on account of the principal of
or any premium, interest or Additional Amounts on Securities or on account of the purchase or other
acquisition of Securities, and (ii) the payment, issuance or delivery of cash, property or
securities (other than junior securities) upon conversion of a Security shall be deemed to
constitute payment on account of the principal of such Security. For the purposes of this Section,
the term “junior securities” means (a) shares of any Common Stock of the Company and (b) securities
of the Company which are subordinated in right of payment to all Senior Debt which may be
outstanding at the time of issuance or delivery of such securities to substantially the same extent
as, or to a greater extent than, the Securities are so subordinated as provided in this Article.

Section 1616 Obligations of the Company Unconditional and Right to Convert or Exchange Unimpaired

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

     Nothing contained in this Article or elsewhere in this Indenture or in the Securities is
intended to or shall impair, as among the Company, its creditors other than holders of Senior

82

 

Debt
and the Holders of the Securities, the right of the Holder of any Security to convert or exchange
such Security of a series established pursuant to Section 301(9) in accordance with the terms and
conditions established for such series for such conversion or exchange.

83

 

* * * * * * * * * *

     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.

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

	 	 	 	 	 	 	 
	 	 	LIBERTY GLOBAL, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	___________________, as Trustee	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 

84exv10w1

 

Exhibit 10.1

 

EMPLOYMENT AGREEMENT

by and between

ODYSSEY HEALTHCARE, INC.

and

ROBERT A. LEFTON

dated effective as of

October 11, 2005

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page	 
	1.	 	Certain Definitions	 	 	1	 
	 
	 	 	 	 	 	 	 	 
	2.	 	Term of Employment; Non-Renewal of Term	 	 	5	 
	 
	 	 	 	 	 	 	 	 
	3.	 	Terms of Employment	 	 	5	 
	 

	 	(a)
	 	Position and Duties
	 	 	5	 
	 

	 	(b)
	 	Compensation
	 	 	6	 
	 
	 	 	 	 	 	 	 	 
	4.	 	Termination of Employment	 	 	8	 
	 

	 	(a)
	 	Death
	 	 	8	 
	 

	 	(b)
	 	Disability
	 	 	8	 
	 

	 	(c)
	 	Cause
	 	 	8	 
	 

	 	(d)
	 	Resignation by Employee
	 	 	8	 
	 
	 	(e)	 	Agreement Not to Terminate
	 	 	8	 
	 
	 	 	 	 	 	 	 	 
	5.	 	Compensation Upon Termination Prior to a Change in Control
of the Company and After the Second Anniversary of such
Change in Control	 	 	8	 
	 
	 	(a)	 	Death or Disability	 	 	8	 
	 
	 	(b)	 	For Cause; Resignation by Employee Without Good Reason; Non-Renewal
Election by Employee	 	 	9	 
	 

	 	(c)
	 	Without Cause; Resignation by Employee for Good Reason; Non-Renewal
Election by the Company
	 	 	10	 
	 
	 	 	 	 	 	 	 	 
	6.	 	Compensation Upon Employment Termination Occurring On or Within Two Years After a Change in Control of the
Company	 	 	11	 
	 
	 	(a)	 	Compensation Upon Termination	 	 	11	 
	 
	 	 	 	 	 	 	 	 
	7.	 	Other Provisions Relating to Termination	 	 	13	 
	 

	 	(a)
	 	Notice of Termination
	 	 	13	 
	 

	 	(b)
	 	Date of Termination
	 	 	13	 
	 

	 	(c)
	 	Good Reason
	 	 	14	 
	 

	 	(d)
	 	Cause
	 	 	14	 
	 

	 	(e)
	 	Full Settlement; Mitigation
	 	 	14	 
	 

	 	(f)
	 	Release and Other Agreements
	 	 	15	 
	 
	 	 	 	 	 	 	 	 
	8.	 	Disclosure of, Access to and Entrustment of Confidential Information, Business
Opportunities and Business Goodwill	 	 	15	 
	 
	 	 	 	 	 	 	 	 
	9.	 	Confidential Information; Ownership of Property	 	 	15	 
	 

	 	(a)
	 	Obligations to Maintain Confidentiality
	 	 	15	 
	 

	 	(b)
	 	Ownership of Work Product
	 	 	17	 
	 
	 	 	 	 	 	 	 	 
	10.	 	Non-Competition; Non-Solicitation; Non-Disparagement	 	 	18	 
	 
	 	 	 	 	 	 	 	 
	11.	 	Successors; Binding Agreement	 	 	19	 
	 
	 	 	 	 	 	 	 	 
	12.	 	Effect of Agreement on Plans and Agreements Governing Awards	 	 	20	 
	 
	 	 	 	 	 	 	 	 
	13.	 	Miscellaneous	 	 	20	 
	 
	 	 	 	 	 	 	 	 
	 

	 	(a)
	 	Construction
	 	 	20	 

i 

 

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page	 
	 

	 	(b)
	 	Notices
	 	 	20	 
	 

	 	(c)
	 	Severability
	 	 	21	 
	 

	 	(d)
	 	Withholding
	 	 	21	 
	 

	 	(e)
	 	No Waiver
	 	 	21	 
	 

	 	(f)
	 	Equitable and Other Relief
	 	 	21	 
	 

	 	(g)
	 	Entire Agreement
	 	 	22	 
	 

	 	(h)
	 	Arbitration
	 	 	22	 
	 

	 	(i)
	 	Attorney Fees
	 	 	22	 
	 

	 	(j)
	 	Survival
	 	 	22	 
	 

	 	(k)
	 	Governing Law
	 	 	22	 
	 

	 	(l)
	 	Amendments
	 	 	23	 
	 

	 	(m)
	 	Employee Acknowledgement
	 	 	23	 
	 

	 	(n)
	 	Counterparts
	 	 	23	 

ii 

 

EMPLOYMENT AGREEMENT

     THIS EMPLOYMENT AGREEMENT (this “Agreement”) is made and entered into effective as of
October 11, 2005 (the “Effective Date”), by and between Odyssey HealthCare, Inc., a
Delaware corporation (the “Company”), and Robert A. Lefton (“Employee”).

RECITALS:

     A. The Company is a national provider of hospice services and desires to employ Employee as
the President and the Chief Executive Officer of the Company.

     B. The Company considers the establishment and maintenance of a sound and vital management
group to be essential to protecting and enhancing its best interests and the best interests of its
stockholders.

     C. In order to induce Employee to accept employment by the Company as an officer of the
Company and its Subsidiaries (as defined in Section 1(o) below), the Company is willing to
agree to provide certain severance benefits to Employee in the event that Employee’s employment is
terminated or changed under the circumstances described in this Agreement.

     D. Employee is desirous of committing himself to serve the Company and its Subsidiaries on the
terms herein provided.

AGREEMENTS:

     NOW, THEREFORE, in consideration of the premises and of the mutual covenants and agreements
contained herein, and other good and valuable consideration, the sufficiency of which is hereby
acknowledged, the parties hereto agree as follows:

     1. Certain Definitions. As used in this Agreement, the following terms have the meanings
set forth below:

          (a) “Acquiring Person” means any Person or group of related Persons (within the
meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act) other than (i) Employee or any
Employee Affiliate, or (ii) the Company, any of the Company’s Subsidiaries, any employee benefit
plan of the Company or of a Subsidiary of the Company or of a corporation owned directly or
indirectly by the stockholders of the Company in substantially the same proportions as their
ownership of stock of the Company, or any trustee or other fiduciary holding securities under an
employee benefit plan of the Company or of a Subsidiary of the Company or of a corporation owned
directly or indirectly by the stockholders of the Company in substantially the same proportions as
their ownership of stock of the Company.

          (b) “Affiliate” means, with respect to any Person, any other Person that directly or
indirectly controls, is controlled by, or is under common control with the Person in question. As
used in this definition of “Affiliate,” the term “control” means the possession,
directly or indirectly, of the power to direct or cause the direction of the management and
policies of a Person, whether through ownership of Voting Securities, by contract, or otherwise.

1

 

          (c) “Board” means the Board of Directors of the Company and any committee thereof.

          (d) “Cause” means Employee’s

               (i) continued failure to substantially perform Employee’s material obligations and duties
under Section 3(a) (other than as a result of physical or mental incapacity), as reasonably
determined by the Board, and which is not remedied within 30 days after receipt of written notice
from the Company specifically identifying the manner in which the Company believes that Employee
has not substantially performed Employee’s material obligations and duties under Section
3(a);

               (ii) commission of an act of fraud, embezzlement, misappropriation, willful misconduct, bad
faith, dishonesty, breach of trust, or breach of fiduciary duty against the Company;

               (iii) material breach of Sections 8, 9 or 10;

               (iv) conviction, plea of no contest or nolo contendere, deferred adjudication or unadjudicated
probation for any felony or any crime involving moral turpitude;

               (v) failure to carry out, or comply with, in any material respect, any lawful directive of the
Board consistent with the terms of this Agreement, which is not remedied within 30 days after
receipt of written notice from the Company specifying such failure;

               (vi) violation of the Company’s substance abuse policy; or

               (vii) suspension or termination of Employee from participation in the Medicare or Medicaid
programs.

     (e) “Change in Control” means the occurrence of any of the following events:

               (i) any of the events described in clauses (ii), (iii) and (iv) of the definition of
“Change in Control” in the Odyssey HealthCare, Inc. 2001 Equity-Based Compensation Plan as in
effect on the date of this Agreement; or

               (ii) any Acquiring Person is or becomes the “beneficial owner” (as defined in Rule 13d-3 under
the Exchange Act), directly or indirectly, of securities of the Company representing fifty percent
or more of the combined voting power of the then outstanding Voting Securities of the Company.

          (f) “Competing Business” means a business that competes in any material respect with
the business engaged in by the Company or any of its Subsidiaries, (A) at the time in question in
respect of the Term of Non-Competition (as defined in Section 1(p)) occurring
prior to the Date of Termination and (B) as of the Date of Termination (as defined in
Section 7(b)) in respect of the Term of Non-Competition occurring on and after the Date of
Termination.

2

 

          (g) “Competing Services” means services that, if provided to a business other than a
Competing Business, would constitute the conduct of a Competing Business.

          (h) “Disability” means Employee’s inability to perform, with or without reasonable
accommodations, the essential functions of Employee’s position hereunder for a period of 180
consecutive days due to mental or physical incapacity, as determined by mutual agreement of a
physician selected by the Company or its insurers and a physician selected by Employee; provided,
however, that if the opinion of the Company’s physician and Employee’s physician conflict, the
Company’s physician and Employee’s physician shall together agree upon a third physician, whose
opinion shall be binding. The foregoing definition of “Disability” is not intended to and shall
not affect the definition of “disability” or any similar term in any insurance policy the Company
or any of its Subsidiaries may provide.

          (i) “Employee Affiliate” means any Person directly or indirectly controlled by
Employee. For purposes of this Agreement, a Person shall be presumed to be controlled by Employee
if (i) Employee is a general partner of such Person (including any partnership in which Employee is
a general partner or any trust in which Employee is a trustee or beneficiary), (ii) Employee
directly or indirectly beneficially owns 10% or more of the outstanding Voting Securities of such
Person or (iii) such Person is controlled by any Person contemplated in clauses (i) or (ii) of this
definition.

          (j) “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the
rules and regulations promulgated thereunder.

          (k) “Geographic Area” means each city (including the 50-mile radius surrounding such
city) in which the Company or any of its Subsidiaries has a facility that engages in its respective
business or any line of its business (A) at the time in question in respect of the Term of
Non-Competition occurring prior to the Date of Termination and (B) as of the Date of Termination in
respect of the Term of Non-Competition occurring on and after the Date of Termination.

          (l) “Good Reason” means, subject to the terms and provisions of this Agreement
(including Sections 1(d) and 4(b)), the occurrence of one or more of the following
events:

               (i) any removal of Employee from the offices of President and Chief Executive Officer of the
Company; provided, however, that Good Reason may not be asserted by Employee under this clause (i)
after a Non-Renewal Notice has been given by either the Company or Employee;

               (ii) any termination or material reduction of a material benefit under any Investment Plan or
Welfare Plan in which Employee participates unless (A) there is substituted a comparable benefit
that is economically substantially equivalent to the terminated or reduced benefit prior to such
termination or reduction or (B) benefits under such Investment
Plan or Welfare Plan are terminated or reduced with respect to all employees previously
granted benefits thereunder;

               (iii) any reduction in Employee’s Annual Base Salary;

3

 

               (iv) any failure by the Company to comply with any of the provisions of Section
3(b), which failure is not contemplated previously within this definition;

               (v) any failure by the Company to comply with Section 11(c);

               (vi) the relocation or transfer of Employee’s principal office to a location more than 50
miles from Employee’s work address as of the Effective Date in the city of Dallas, Texas, without
Employee’s consent; or

               (vii) without limiting the generality of the foregoing, any material breach by the Company or
any of its Subsidiaries or other Affiliates of (A) this Agreement or (B) any other agreement
between Employee and the Company or any such Subsidiary or other Affiliate,

excluding, in the case of clauses (i) through (vii), any isolated, insubstantial and inadvertent
failure not occurring in bad faith and which is remedied by the Company promptly after receipt of
notice thereof given by Employee.

          (m) “Person” means any individual, partnership, limited liability partnership, joint
venture, corporation, limited liability company, trust, association, or other entity or
organization.

          (n) “Pro Rata Bonus” means the amount equal to the product of (i) the amount of the
Annual Bonus (as defined in Section 3(b)(ii)), if any, to which Employee would have been
entitled for the calendar year in which Employee’s Date of Termination occurs if Employee’s
employment were not terminated during such calendar year, multiplied by (ii) a fraction,
the numerator of which is the number of days that have elapsed since the beginning of such calendar
year through (but not including) Employee’s Date of Termination, and the denominator of which is
the total number of days in such calendar year. The amount, if any, of the Annual Bonus to which
Employee would have been entitled for the calendar year in which the Date of Termination occurs
shall be determined by the Board in its sole good faith discretion; provided, however, that during
the period on or within two years after a Change in Control, for purposes of determining the amount
of the Pro Rata Bonus, Employee shall be deemed to have been entitled to an Annual Bonus of not
less than the amount of the last Annual Bonus awarded to Employee prior to such Change in Control,
and provided further however that any determination by the Board as to satisfaction of a
performance standard shall be made in the same manner as such determination is made for the other
executive officers of the Company.

          (o) “Subsidiary” means, with respect to any Person, any corporation or other entity of
which a majority of the voting power of the voting equity securities or equity interest is owned,
directly or indirectly, by that Person.

          (p) “Term of Non-Competition” means the period of time beginning on the Effective Date
and continuing until 5:00 p.m., Dallas, Texas time, on the second anniversary of the Date of
Termination.

4

 

          (q) “Voting Securities” means any securities that vote generally in the election of
directors, in the admission of general partners, or in the selection of any other similar governing
body.

          (r) “without Cause” means a termination by the Company of Employee’s employment during
the Term at the Company’s sole discretion for any reason other than a termination based upon Cause,
death or Disability; provided that, “without Cause” does not include termination of this Agreement
and Employee’s employment pursuant to Section 2.

     2. Term of Employment; Non-Renewal of Term. Subject to the terms and provisions of this
Agreement, the Company hereby agrees to employ Employee, and Employee hereby agrees to be employed
by the Company, for the period (the “Term”) commencing on the Effective Date and, unless
Employee’s employment hereunder is sooner terminated in accordance with the terms hereof, expiring
at 5:00 p.m., Dallas Texas time, on October 10, 2008; provided, however, that commencing on October
10, 2008 (the Employment Expiration Date”), and on each October 10th occurring thereafter,
the Term shall automatically (without any action by either party) be extended for one additional
calendar year unless, at least 30 days prior to the expiration of the Term, the Company or Employee
shall have given written notice (a “Non-Renewal Notice”) that it or Employee, as
applicable, does not wish to extend this Agreement (a “Non-Renewal”). Either party may
elect not to renew this Agreement. The term “Term,” as utilized in this Agreement, shall refer to
the Term as so automatically extended. The Term shall expire as a result of any Non-Renewal at
5:00 p.m., Dallas, Texas time, on the October 10th of the extension period during which a
Non-Renewal Notice is given, and Employee’s employment shall terminate at the expiration of the
Term.

     3. Terms of Employment.

     (a) Position and Duties.

               (i) During the Term, Employee shall serve as President and Chief Executive Officer of the
Company. In so doing, Employee shall have such powers and duties (including holding officer
positions with one or more Subsidiaries of the Company) as may be assigned from time to time by the
Board, so long as such powers and duties are reasonable and customary for president and chief
executive officers of an enterprise comparable to the Company. Employee shall report to the Board.

               (ii) During the Term, and excluding any periods of vacation and sick leave to which Employee
is entitled, Employee agrees to devote all of Employee’s business time to the business and affairs
of the Company and, to the extent necessary to discharge the
responsibilities assigned to Employee hereunder, to (a) use Employee’s best efforts to perform
diligently, faithfully, effectively and efficiently such responsibilities, (b) use Employee’s best
efforts to promote the interests of the Company; (c) use Employee’s reasonable best efforts to
maintain Employer’s status as a participating provider under the Medicare and Medicaid programs;
and (d) perform such other duties appropriate for Employee’s position as the Board may from time to
time reasonably direct.

5

 

               (iii) Employee shall not engage, directly or indirectly, in any other business, investment, or
activity that interferes with the performance of Employee’s duties under this Agreement, is
contrary to the interests of the Company or requires any portion of Employee’s business time;
provided, however, that during the Term, it shall not be a violation of this Agreement for Employee
to (1) serve on the board of directors (or similar governing body) of one or more other companies
that do not engage in a Competing Business if the Board has provided prior approval (which shall
not be unreasonably withheld) for such service, (2) serve on corporate, civic, charitable or
industry sector association boards or committees, (3) deliver lectures or fulfill speaking
engagements and (4) manage personal investments, so long as such activities do not materially
interfere with the performance of Employee’s responsibilities as an employee of the Company in
accordance with this Agreement. Company hereby acknowledges and approves that Employee currently
serves on the board of directors of Horizon Health Corporation. Notwithstanding the provisions of
this Sections 3(a)(ii) and (iii), Employee may continue to fulfill his obligations
to Select Medical Corporation, provided such obligations do not (A) interfere with the performance
of Employee’s responsibilities as an Employee of the Company in accordance with this Agreement and
(B) violate Employee’s covenants and obligations under this Agreement, including Sections
8, 9 and 10.

     (b) Compensation.

               (i) Annual Base Salary. During the Term, Employee shall receive an annual base salary
(“Annual Base Salary”), which shall be paid bi-weekly in accordance with the customary
payroll practices for executive officers of the Company, in an amount at least equal to $500,000.00
per year. At least annually (by no later than January 31 of each year) during the Term, the Board
shall review the Annual Base Salary of Employee and may increase (but not decrease) the Annual Base
Salary by such amount as the Board shall deem appropriate. The term “Annual Base Salary” as used
in this Agreement shall refer to the Annual Base Salary as it may be so increased.

               (ii) Annual Bonus. During the Term, Employee shall be eligible to receive, in
addition to the Annual Base Salary, an annual bonus in an amount not less than 100% of the Annual
Base Salary (each, an “Annual Bonus”), subject to achieving the performance goals
established by the Board as described below. Annually (by no later than March 15 of each calendar
year during the Term), the Board shall determine the amount (or amount range) of the Annual Bonus
that Employee shall be eligible to receive for the calendar year and the performance goals that
must be achieved for Employee to become entitled to receive the Annual Bonus for such calendar
year. For each calendar year (or partial calendar year) during the Term, the Board shall determine
in its sole good faith discretion whether the performance goals
established for Employee for such calendar year have been achieved, such determination to be
made by no later than the date on which the Company publicly announces its earnings for such
calendar year in a press release in the immediately following calendar year. Subject to the terms
hereof, any Annual Bonus that Employee becomes entitled to receive shall be payable to Employee
within fifteen days after such determination by the Board.

               (iii) Stock Options. On the Effective Date, the Company shall grant Employee an
option to purchase an aggregate of 500,000 shares of the Company’s common stock, which grant shall
be subject to the terms and provisions of the Odyssey HealthCare, Inc.

6

 

2001 Equity-Based Compensation Plan Employee Stock Option Agreement, dated October 11, 2005, attached hereto as
Exhibit A and the Odyssey HealthCare, Inc. 2001 Equity-Based Compensation Plan dated as of
November 5, 2001, as amended by that certain First Amendment to the Odyssey HealthCare, Inc. 2001
Equity-Based Compensation Plan dated as of May 5, 2005 and by that certain Second Amendment to the
Odyssey HealthCare, Inc. 2001 Equity-Based Compensation Plan dated as of May 5, 2005. A portion of
the grant equal to the maximum number of options permitted under the Internal Revenue Code of 1986,
as amended, shall be treated as incentive stock options, with the balance of the grant treated as
non-qualified stock options.

               (iv) Incentive, Savings, Stock Option and Retirement Plans. During the Term, Employee
shall be entitled to participate in all incentive, savings, stock option, equity-based, profit
sharing and retirement plans, practices, policies and programs applicable generally to other
executive officers of the Company (“Investment Plans”), subject to all of the terms and
conditions of such Investment Plans.

               (v) Welfare Benefit Plans. During the Term, Employee and/or Employee’s family, as the
case may be, shall be eligible for participation in and shall receive all benefits under the
welfare benefit plans, practices, policies and programs (“Welfare Plans”) provided by the
Company (including, without limitation, medical, prescription, dental, short-term and long-term
disability, salary continuance, employee life, group life, accidental death and travel accident
insurance plans and programs) to the extent applicable generally to other executives of the
Company, subject to all of the terms and conditions of such Welfare Plans.

               (vi) Perquisites. During the Term, Employee shall be entitled to receive (in addition
to the benefits described above) such perquisites and fringe benefits appertaining to Employee’s
position in accordance with any policies, practices, and procedures established by the Board. In
addition to the forgoing, Employee shall be entitled to receive a health club dues allowance of not
less than $100.00 per month, as determined by the Board.

               (vii) Expenses. During the Term, Employee shall be entitled to receive prompt
reimbursement for all reasonable business-related expenses incurred by Employee in the performance
of Employee’s duties in accordance with the Company’s policies, practices and procedures.

               (viii) Vacation and Holidays. During the Term, Employee shall be entitled to paid
vacation, in accordance with the plans, policies, programs and practices of the Company for its
executive officers. In addition, Employee shall be entitled to sick leave and
paid holidays, in accordance with the plans, policies, programs and practices of the Company
for its executive officers.

               (ix) Proration. Any payments or benefits payable to Employee hereunder in respect of
any calendar year during which Employee is employed by the Company for less than the entire year,
unless otherwise provided in the applicable plan or arrangement, shall be prorated in accordance
with the number of days in such calendar year during which Employee is so employed.

7

 

     4. Termination of Employment.

     (a) Death. Employee’s employment hereunder shall terminate automatically upon Employee’s
death during the Term.

     (b) Disability. If the Disability of Employee has occurred during the Term, the Company
may give to Employee a written Notice of Termination (as defined in Section 7(a)) in
accordance with Section 7(a) of its intention to terminate Employee’s employment hereunder.
In such event, Employee’s employment shall terminate effective on the 30th day after receipt of
such notice by Employee (the “Disability Effective Date”); provided that, within 30 days
after receipt of the Notice of Termination, Employee shall not have returned to perform, with or
without reasonable accommodations, the essential functions of Employee’s position on a full-time
basis. During any period of Employee’s Disability, the Company may assign Employee’s duties to any
other Employee of the Company or may engage or hire a third party to perform such duties and any
such action shall not be deemed “Good Reason” for Employee to terminate this Agreement pursuant to
Section 4(d)(i) so long as Employee continues to receive the compensation and benefits
under Section 3 during such period.

     (c) Cause. Subject to Section 7(d), the Company may terminate Employee’s
employment at any time during the Term for Cause or without Cause.

     (d) Resignation by Employee. At Employee’s option, Employee may terminate Employee’s
employment hereunder (i) subject to Section 7(c), for Good Reason or (ii) without Good
Reason.

     (e) Agreement Not to Terminate. Notwithstanding any provision to the contrary contained in
this Agreement, the Company agrees that it shall not have the right to terminate Employee’s
employment, other than for Cause,
for a period of time commencing on the Effective Date and ending at 5:00 p.m., Dallas, Texas time,
on the 180th day following the Effective Date.

     5. Compensation Upon Termination Prior to a Change in Control of the Company and After the
Second Anniversary of such Change in Control. Prior to the occurrence of a Change in Control
of the Company and after the second anniversary of such Change in Control of the Company,
conditioned on the execution and delivery of a Release (as defined in Section 7(f)) signed
by Employee or Employee’s legal representative pursuant to Section 7(f), Employee shall be
entitled to the following compensation from the Company upon the termination of Employee’s
employment during the Term, which shall be in lieu of any other severance pay or employment
benefits to which Employee might otherwise be entitled (whether contractual or under a severance
plan, the WARN Act, any other applicable law, or otherwise):

     (a) Death or Disability. If Employee’s employment is terminated by reason of Employee’s
death or Disability, the Company shall pay to Employee or Employee’s legal representatives (i)
within 30 days after the later to occur of the Date of Termination or the effective date of the
Release, a lump sum in cash equal to the sum of Employee’s Annual Base Salary through the Date of
Termination to the extent not previously paid and any compensation previously deferred by Employee
(together with any accrued interest or earnings thereon) (the “Accrued Obligations”); (ii)
the amount of any Annual Bonus to which Employee was entitled

8

 

for the calendar year ending prior to the Date of Termination to the extent not previously paid, which amount shall be paid at such time
as the Company pays other executives of the Company annual bonuses for the prior calendar year (but
in no event later than the fifteenth business day after the Company publicly announces its earnings
for such calendar year in a press release); (iii) without duplication of any amount payable
pursuant to clause (ii) above, the amount of any Pro Rata Bonus, which shall be paid at such time
as the Company pays the other executives of the Company annual bonuses for the calendar year in
which Employee’s Date of Termination occurs (but in no event later than the fifteenth business day
after the Company publicly announces its earnings for such calendar year in a press release); (iv)
any amounts arising from Employee’s participation in, or benefits under, any Investment Plan (the
“Accrued Investments”), which amounts shall be paid in accordance with the terms and
conditions of such Investment Plan; and (v) any amounts to which Employee or Employee’s spouse,
beneficiaries or estate are entitled from Employee’s participation in, or benefits under, any
Welfare Plan (“Accrued Welfare Benefits”), which amounts shall be paid in accordance with
the terms and conditions of such Welfare Plan. Except as described in this Section 5(a),
in the event of Employee’s termination by reason of Employee’s death or Disability, Employee and
Employee’s legal representatives, as applicable, shall forfeit all rights to any other
compensation.

     (b) For Cause; Resignation by Employee Without Good Reason; Non-Renewal Election by
Employee. If the Company shall terminate Employee’s employment for Cause or Employee resigns
without Good Reason or Employee’s employment is terminated due to a Non-Renewal election
by Employee, the Company shall have no further obligations to Employee other than the obligation
for payment of:

               (i) the Accrued Obligations, which shall be payable within 30 days after the later to occur of
the Date of Termination or the effective date of the Release;

               (ii) the amount of any Annual Bonus to which Employee was entitled for the calendar year
ending prior to the Date of Termination to the extent not previously paid, which amount shall be
payable at such time as the Company pays other executive of the Company annual bonuses for the
prior calendar year (but in no event later than the fifteenth business day after the Company
publicly announces its earnings for such calendar year in a press release);

               (iii) the Accrued Investments, which amounts shall be paid in accordance with the terms and
conditions of the Investment Plans;

               (iv) the Accrued Welfare Benefits, which amounts shall be paid in accordance with the terms
and conditions of the Welfare Plans; and

               (v) without duplication of any amount payable pursuant to clause (ii) above, solely in the
case of a Non-Renewal by Employee or the Company, the amount of any Pro Rata Bonus, which shall be
paid at such time as the Company pays the other executives of the Company annual bonuses for the
calendar year in which Employee’s Date of Termination occurs (but in no event later than the
fifteenth business day after the Company publicly announces its earnings for such calendar year in
a press release).

9

 

     Except as described in this Section 5(b), in the event of Employee’s termination by
the Company for Cause or by Employee without Good Reason or due to a Non-Renewal election by
Employee, Employee shall forfeit all rights to any other compensation.

     (c) Without Cause; Resignation by Employee for Good Reason; Non-Renewal Election by the
Company. If the Company shall terminate Employee’s employment without Cause (other than by
reason of Employee’s death or Disability or a Non-Renewal) or Employee resigns for Good Reason or
Employee’s employment is terminated due to a Non-Renewal election by the Company, then the Company
shall pay or provide Employee:

               (i) within 30 days after the later to occur of the Date of Termination or the effective date
of the Release, a lump sum in cash equal to the aggregate of the following amounts: (A) the Accrued
Obligations and (B) the amount of any Annual Bonus to which Employee was entitled for the calendar
year ending prior to the Date of Termination to the extent not previously paid;

               (ii) without duplication of any amount payable pursuant to clause (i)(B) above, the amount of
any Pro Rata Bonus, which shall be paid at such time as the Company pays the other executives of
the Company annual bonuses for the calendar year in
which Employee’s Date of Termination occurs (but in no event later than the fifteenth business
day after the Company publicly announces its earnings for such calendar year in a press release);

               (iii) the Accrued Investments, which amounts shall be paid in accordance with the terms and
conditions of the Investment Plans;

               (iv) the Accrued Welfare Benefits, which amounts shall be paid in accordance with the terms
and conditions of the Welfare Plans;

               (v) the amount of Employee’s Annual Base Salary as of the Date of Termination, which amount
shall be paid in bi-weekly payments, in accordance with the customary payroll practices of the
Company, for the period from the Date of Termination through the second anniversary of the Date of
Termination (such period, the “Severance Period”) in accordance with the customary payroll
practices for executive officers of the Company; provided, however, that Employee shall be entitled
to receive the amount payable pursuant to this Section 5(c)(v) only so long as Employee has
not breached the provisions of Section 8, 9 or 10, at which time the
Company’s payment obligations pursuant to this Section 5(c)(v) shall immediately cease;

               (vi) if Employee is entitled on the Date of Termination to coverage under the medical,
prescription, and dental portions of the Welfare Plans, continuation of such coverage for Employee
and Employee’s dependents for a period ending on the later to occur of (A) the second anniversary
of the Date of Termination or (B) the Employment Expiration Date, at the active employee cost
payable by Employee with respect to those costs paid by Employee prior to the Date of Termination
and whereby the balance of applicable premiums, as determined by the Company, shall be paid by the
Company, with income applicable to such premiums imputed to Employee; provided, however, that this
coverage will count towards the depletion of any continued health care coverage rights that
Employee and Employee’s dependents may have

10

 

pursuant to the Consolidated Omnibus Budget
Reconciliation Act of 1985, as amended (“COBRA”); provided, further, however, that
Employee’s or Employee’s dependents’ rights to continued health care coverage pursuant to this
Section 5(c)(vi) shall terminate at the time Employee or Employee’s dependents become
covered, as described in COBRA, under another group health plan, and shall also terminate as of the
date the Company ceases to provide coverage to its senior executives generally under any such
Welfare Plan; and

               (vii) notwithstanding the terms or conditions of any Award (as defined in the Odyssey
HealthCare, Inc. 2001 Equity-Based Compensation Plan), Employee shall be entitled to exercise
Employee’s Awards (other than incentive stock option Awards, which shall be governed by the terms
of such Award) that are vested as of the Date of Termination until the first anniversary of the
Date of Termination provided, however, that if the terms of the plan or agreement governing such
Award (other than the meaning of “Cause” and “Disability”) are more favorable to Employee as to
exercisability than the terms of this Section 5(c)(vii), then the more favorable term(s) of
such Award agreement or plan shall govern the exercisability of such Award upon Employee’s
termination.

     Except as described in this Section 5(c), in the event of Employee’s termination by
the Company without Cause or by Employee for Good Reason or due to a Non-Renewal election by the
Company, Employee shall forfeit all rights to any other compensation.

     6. Compensation Upon Employment Termination Occurring On or Within Two Years After a Change in
Control of the Company.

     (a) Compensation Upon Termination. After the occurrence of a Change in Control of the
Company and on or before the second anniversary of such Change in Control, conditioned on the
execution and delivery of a Release signed by Employee or Employee’s legal representative pursuant
to Section 7(f), Employee shall be entitled to the following compensation from the Company
upon the termination of Employee’s employment during the Term, which shall be in lieu of any other
severance pay or employment benefits to which Employee might otherwise be entitled (whether
contractual or under a severance plan, the WARN Act, any other applicable law, or otherwise):

               (i) Death or Disability. If Employee’s employment is terminated by reason of
Employee’s death or Disability, then Employee or Employee’s legal representatives shall be entitled
to the same compensation benefits from the Company as set forth in Section 5(a) to which
Employee would have been entitled if the termination of Employee’s employment had occurred prior to
the occurrence of a Change in Control or after the second anniversary of such Change in Control.
Except as described in this Section 6(a)(i), Employee’s death or Disability, Employee and
Employee’s legal representatives, as applicable, shall forfeit all rights to any other
compensation.

               (ii) For Cause; Resignation by Employee Without Good Reason; Non-Renewal Election by
Employee. If the Company shall terminate Employee’s employment for Cause or Employee resigns
without Good Reason or Employee’s employment is terminated due to a Non-Renewal election by
Employee, then Employee or Employee’s legal representatives shall be entitled to the same
compensation benefits from the Company as set forth in Section 5(b)

11

 

to which Employee would
have been entitled if the termination of Employee’s employment had occurred prior to the occurrence
of a Change in Control or after the second anniversary of such Change in Control. Except as
described in this Section 6(a)(ii), in the event of Employee’s termination by the Company
for Cause or by Employee without Good Reason or due to a Non-Renewal election by Employee, Employee
shall forfeit all rights to any other compensation.

               (iii) Without Cause; Resignation by Employee for Good Reason; Non-Renewal Election by the
Company. If the Company shall terminate Employee’s employment without Cause (other than by
reason of Employee’s death or Disability) or Employee resigns for Good Reason or Employee’s
employment is terminated due to a Non-Renewal election by the Company, then the Company shall pay
or provide Employee:

               (A) within 30 days after the later to occur of the Date of Termination or the effective
date of the Release, a lump sum in cash equal to the aggregate of the following amounts: (1)
the Accrued Obligations and (2) the amount of
any Annual Bonus to which Employee was entitled for the calendar year ending prior to
the Date of Termination to the extent not previously paid;

               (B) the amount of any Pro Rata Bonus, which shall be paid at such time as the Company
pays the other executives of the Company annual bonuses for the calendar year in which
Employee’s Date of Termination occurs (but in no event later than the fifteenth business day
after the Company publicly announces its earnings for such calendar year in a press
release);

               (C) the Accrued Investments, which amounts shall be paid in accordance with the terms
and conditions of the Investment Plans;

               (D) the Accrued Welfare Benefits, which amounts shall be paid in accordance with the
terms and conditions of the Welfare Plans;

               (E) bi-weekly payments equal to 1/26th of the highest Annual Base Salary to which
Employee was entitled during the 24-month period ending on the Date of Termination, payable
in accordance with the customary payroll practices of the Company, which payments shall
continue from the Date of Termination through the second anniversary of the Date of
Termination; provided, however, that Employee shall be entitled to receive the amount
payable pursuant to this Section 6(a)(iii)(E) only so long as Employee has not
breached the provisions of Section 8, 9 or 10, at which time the
Company’s payment obligations pursuant to this Section 6(a)(iii)(E) shall
immediately cease; and

               (F) if Employee is entitled on the Date of Termination to coverage under the medical,
prescription, and dental portions of the Welfare Plans, continuation of such coverage for
Employee and Employee’s dependents for a period ending on the later to occur of (A) the
second anniversary of the Date of Termination or (B) the Employment Expiration Date, at the
active employee cost payable by Employee with respect to those costs paid by Employee prior
to the Date of Termination and whereby the balance of applicable premiums, as determined by
the Company, shall be

12

 

paid by the Company, with income applicable to such premiums imputed
to Employee; provided, however, that this coverage will count towards the depletion of any
continued health care coverage rights that Employee and Employee’s dependents may have
pursuant to COBRA; provided further, however, that Employee’s or Employee’s dependents’
rights to continued health care coverage pursuant to this Section 6(a)(iii)(F) shall
terminate at the time Employee or Employee’s dependents become covered, as described in
COBRA, under another group health plan, and shall also terminate as of the date the Company
ceases to provide coverage to its senior executives generally under any such Welfare Plan;
and

               (G) notwithstanding the terms or conditions of any Award (as defined in the Odyssey
HealthCare, Inc. 2001 Equity-Based Compensation Plan), Employee shall be entitled to
exercise Employee’s Awards (other than incentive stock option Awards, which shall be
governed by the terms of such Award) that are vested as of the Date of Termination until the
first anniversary of the Date of Termination
provided, however, that if the terms of the plan or agreement governing such Award
(other than the meaning of “Cause” and “Disability”) are more favorable to Employee as to
exercisability than the terms of this Section 6(a)(iii)(G), then the more favorable
term(s) of such Award agreement or plan shall govern the exercisability of such Award upon
Employee’s termination.

     Except as described in this Section 6(a)(iii), in the event of Employee’s termination
by the Company without Cause or by Employee for Good Reason or due to a Non-Renewal election by the
Company, Employee shall forfeit all rights to any other compensation.

     7. Other Provisions Relating to Termination.

     (a) Notice of Termination. Any termination by the Company for Cause or without Cause or by
reason of Employee’s Disability, or by Employee’s resignation for Good Reason or without Good
Reason, shall be communicated by Notice of Termination to the other party hereto given in
accordance with Section 13(b). For purposes of this Agreement, a “Notice of
Termination” means a written notice which (i) indicates the specific termination provision in
this Agreement relied upon and (ii) to the extent applicable, sets forth in reasonable detail the
facts and circumstances claimed to provide a basis for termination of Employee’s employment under
the provision so indicated. The failure by the Company or Employee to set forth in the Notice of
Termination any fact or circumstance which contributes to a showing of Cause or Good Reason shall
not waive any right of the Company or Employee hereunder or preclude the Company or Employee from
asserting such fact or circumstance in enforcing the Company’s or Employee’s rights hereunder.

     (b) Date of Termination. “Date of Termination” means (i) if Employee’s employment
is terminated by reason of Employee’s death, the date of Employee’s death; (ii) if Employee’s
employment is terminated by reason of Employee’s Disability, the Disability Effective Date
(provided that Employee shall not have returned to perform, with or without reasonable
accommodation, the essential functions of Employee’s position on a full-time basis during such
30-day period); (iii) if Employee’s employment is terminated by the Company without Cause or by
Employee for Good Reason or without Good Reason, then, subject to

13

 

Section 7(c), the date
specified in the Notice of Termination (which date shall be a date between the date that the Notice
of Termination is given and 30 days thereafter (inclusive)); (iv) if Employee’s employment is
terminated by the Company for Cause then, subject to Section 7(d), the date on which the
Notice of Termination is given; and (v) if Employee’s employment is terminated due to a Non-Renewal
election by Employee or the Company, the date on which the Term expires.

     (c) Good Reason. Upon Employee’s learning of the occurrence of any event described in the
definition of Good Reason in Section 1(l), Employee may terminate Employee’s employment
hereunder for Good Reason within 60 days thereafter by giving a Notice of Termination to the
Company to that
effect, describing in reasonable detail the facts or circumstances giving rise to Employee’s right
to terminate Employee’s employment for Good Reason (and, if applicable, the action required to cure
same). If the effect of the occurrence of the event described in Section 1(l) may be cured,
the Company shall have the opportunity to cure any such effect for a period of 60 days following
receipt of Employee’s Notice of Termination. If within 60 days following the Company’s receipt of a
Notice of Termination for Good Reason the Company has not cured the facts or circumstances giving
rise to Employee’s right to terminate Employee’s employment for Good Reason, then the termination
by Employee for Good Reason shall be effective as of the date specified in Employee’s Notice of
Termination. If Employee does not give a Notice of Termination to the Company within 60 days after
learning of the occurrence of an event giving rise to Good Reason, then this Agreement shall remain
in effect; provided, however, that the failure of Employee to terminate this Agreement for Good
Reason shall not be deemed a waiver of Employee’s right to terminate Employee’s employment for Good
Reason upon the occurrence of a subsequent event described in Section 1(l) in accordance
with the terms of this Agreement. Notwithstanding the foregoing, the right of Employee to terminate
Employee’s employment for Good Reason under Section 4(d)(i) shall not limit the Company’s
right to terminate Employee’s employment for Cause under Section 4(c) if Cause is
determined to exist prior to the time Good Reason is determined to exist.

     (d) Cause. Upon the Company learning of the occurrence of any event described in
Section 1(d), the Company may at any time terminate Employee’s employment hereunder for
Cause within 60 days thereafter by giving Employee a Notice of Termination to that effect,
describing in reasonable detail the facts or circumstances giving rise to the Company’s right to
terminate Employee’s employment for Cause (and, if applicable, the action required to cure same).
If the Company does not give a Notice of Termination to Employee within 60 days after learning of
the occurrence of an event giving rise to Cause, then this Agreement shall remain in effect;
provided, however, that the failure of the Company to terminate this Agreement for Cause shall not
be deemed a waiver of the Company’s right to terminate Employee’s employment for Cause upon the
occurrence of a subsequent event described in Section 1(d) in accordance with the terms of
this Agreement. Notwithstanding the foregoing, the right of the Company to terminate Employee’s
employment for Cause under Section 4(c) shall not limit Employee’s right to resign for Good
Reason under Section 4(d)(i) if Good Reason is determined to exist prior to the time Cause
is determined to exist.

     (e) Full Settlement; Mitigation. In no event shall Employee be obligated to seek other
employment or take any other action by way of mitigation of the amounts payable to Employee under
any of the provisions of this Agreement, and such amounts shall not be reduced

14

 

whether or not
Employee obtains other employment. The Company shall not be liable to Employee for any damages for
breach of this Agreement in addition to the amounts payable under Section 5 or 6
arising out of the termination of Employee’s employment prior to the end of the Term. The Company
shall be entitled to seek damages from Employee for any breach of Section 8, 9 or
10 by Employee or for Employee’s criminal misconduct.

     (f) Release and Other Agreements. Notwithstanding any other provision in this Agreement to
the contrary, in consideration for receiving the severance benefits described in (i) Sections
5(c)(v), 5(c)(vi) and 5(c)(vii) or (ii) Sections 6(a)(iii)(E),
6(a)(iii)(F) and 6(a)(iii)(G), as the case may be, Employee hereby agrees to
execute (and not revoke) a release in substantially the form attached hereto as Exhibit B
(the “Release”). If Employee fails to properly execute and deliver the Release (or revokes
the Release), Employee agrees that Employee shall not be entitled to receive such severance
benefits. Without limiting the foregoing, in consideration for receiving such severance benefits,
upon any termination of Employee’s employment (other than by reason of death), whether Employee’s
employment is terminated by Employee or by the Company, Employee hereby agrees to resign in
writing, in form and substance reasonably acceptable to the Company, from all officer and/or
director positions with the Company or any Subsidiary or Affiliate thereof, effective on the Date
of Termination. For purposes of this Agreement, the Release and the resignation shall be
considered to have been executed by Employee if it is signed by Employee’s legal representative in
the case of Employee’s legal incompetence or on behalf of Employee’s estate in the case of
Employee’s death. Upon Employee’s execution and delivery of the Release, the Company shall also
promptly execute and deliver the Release.

     8. Disclosure of, Access to and Entrustment of Confidential Information, Business Opportunities
and Business Goodwill. During the course of Employee’s employment with the Company (including
during the 180-day period following the Effective Date), the Company shall disclose to Employee, or
place Employee in a position to have access to or develop, Confidential Information (as defined in
Section 9(a)(i)), and/or shall entrust Employee with business opportunities of the Company,
and/or shall place Employee in a position to develop business goodwill on behalf of the Company.
There is a need and desire on the part of the Company and Employee to specify the parties’ rights
and obligations with respect to the ownership and protection of such Confidential Information,
business opportunities and goodwill. Accordingly, as a material inducement to the Company to enter
into this Agreement; in consideration for the compensation and other benefits payable hereunder to
Employee; to protect the Company’s Confidential Information that has been and will be in the future
disclosed or entrusted to Employee (the disclosure of which by Employee in violation of this
Agreement would adversely affect the business goodwill of the Company), the business goodwill of
the Company that has been and will in the future be developed in Employee and the business
opportunities that have been and will in the future be disclosed or entrusted to Employee by the
Company; and for other good and valuable consideration, Employee agrees to comply with, and be
bound by, Sections 9 and 10. As used in this Section 8, “Company” shall
include the Company and any of its Subsidiaries.

     9. Confidential Information; Ownership of Property.

     (a) Obligations to Maintain Confidentiality.

15

 

               (i) Employee acknowledges that the Company has trade, business and financial secrets and other
confidential and proprietary information regarding the Company and its business, in whatever form,
tangible or intangible (collectively, the “Confidential Information”), and that, during the
course of Employee’s employment with the Company (including during the 180-day period following the
Effective Date), Employee has received, shall receive or be placed in a position to have access to
or develop Confidential Information. Employee further acknowledges and agrees that Employee’s use
of Confidential Information in the conduct of business on behalf of a competitor of the Company
would constitute unfair competition with the Company and would adversely affect the business
goodwill of the Company. Confidential Information includes sales materials, technical information,
processes and compilations of information, records, specifications and information concerning
customers, prospective customers, customer and prospective customer lists, and information
regarding methods of doing business. As defined herein, Confidential Information shall not include
information that is (i) obtained by Employee from a source other than the Company or its
Affiliates, which source is not under a duty of non-disclosure in regard to such information or
(ii) becomes generally available to the public other than through disclosure by Employee in
violation of the provisions of this Agreement.

               (ii) Employee is aware of those policies implemented by the Company to keep its Confidential
Information secret, including those policies limiting the disclosure of information on a
need-to-know basis and requiring the keeping of information in secure areas. Employee acknowledges
that the Confidential Information has been developed or acquired by the Company through the
expenditure of substantial time, effort and money and provides the Company with an advantage over
competitors who do not know or use such Confidential Information.

               (iii) During and following Employee’s employment by the Company, Employee shall hold in
confidence and not directly or indirectly disclose, use (for Employee’s commercial advantage or
otherwise), copy, make lists of, or make available to others any Confidential Information except in
Employee’s good faith performance of Employee’s duties to the Company as an executive of the
Company or to the extent authorized in writing by the Board or required by law or compelled by
legal process. Employee agrees to use reasonable efforts to give the Company notice of any and all
attempts to compel disclosure of any Confidential Information, in such a manner so as to provide
the Company with written notice at least five days before disclosure or within three business days
after Employee is informed that such disclosure is being or shall be compelled, whichever is
earlier. Such written notice shall include a description of the information to be disclosed, the
court, government agency, or other forum through which the disclosure is sought, and the date by
which the information is to be disclosed, and shall contain a copy of the subpoena, order or other
process used to compel disclosure.

               (iv) Employee further agrees not to use any Confidential Information for the benefit of any
person or entity other than the Company.

               (v) Employee agrees that all Confidential Information and other files, documents, materials,
records, notebooks, customer lists, business proposals, contracts, agreements and other
repositories containing information concerning the Company or the business of the Company, in
whatever form, tangible or intangible (including all copies thereof),

16

 

that Employee shall prepare, or use, or be provided with as a result of Employee’s employment
with the Company, shall be and remain the sole property of the Company. Upon termination of
Employee’s employment hereunder, Employee agrees that all Confidential Information and other files,
documents, materials, records, notebooks, customer lists, business proposals, contracts, agreements
and other repositories containing information concerning the Company or the business of the Company
(including all copies thereof) in Employee’s possession, custody or control, whether prepared by
Employee or others, shall remain with or be returned to the Company promptly (within 48 hours)
after the Date of Termination. The materials required to be returned pursuant to this Section
9(a)(v) shall not include personal correspondence or other personal property of Employee that
does not relate to the Company or the business of the Company.

          (vi) Notwithstanding anything herein to the contrary, Employee may disclose to any and all
persons, without limitation of any kind, the U.S. federal income tax treatment and tax structure of
the transactions contemplated in this Agreement and all materials of any kind (including opinions
and other tax analyses) that are provided to Employee relating to such tax treatment and tax
structure. For this purpose, “tax structure” is limited to facts relevant to the U.S. federal
income tax treatment of the transactions contemplated in this Agreement and does not include
information relating to the identity of the parties hereto.

     (b) Ownership of Work Product.

          Employee acknowledges that all discoveries, concepts, ideas, inventions, innovations,
improvements, developments, methods, processes, programs, designs, analyses, drawings, reports,
patent applications, copyrightable work and mask work (whether or not including any confidential
information) and all registrations or applications related thereto, all other proprietary
information and all similar or related information (whether or not patentable) that relate to the
Company’s or its Affiliates’ actual or anticipated business, research and development, or existing
or future products or services and that are conceived, developed, contributed to, made, or reduced
to practice by Employee (either solely or jointly with others) while employed by the Company
(including any of the foregoing that constitutes any proprietary information or records) (“Work
Product”) belong to the Company or its Affiliates, as applicable, and Employee hereby assigns,
and agrees to assign, all of the above Work Product to the Company or its Affiliates, as
applicable. Any copyrightable work prepared in whole or in part by Employee in the course of
Employee’s work for any of the foregoing entities shall be deemed a “work made for hire” under the
copyright laws, and the Company or its Affiliates, as applicable, shall own all rights therein. To
the extent that any such copyrightable work is not a “work made for hire,” Employee hereby assigns
and agrees to assign to the Company all right, title, and interest, including without limitation,
copyright in and to such copyrightable work. Employee shall promptly disclose such Work Product
and copyrightable work to the Board and perform all actions reasonably requested by the Board
(whether during or after the Term) to establish and confirm the Company’s or its Affiliates’, as
applicable, ownership (including, without limitation, assignments, consents, powers of attorney,
and other instruments).

          (c) As used in this Section 9 “Company” shall include the Company and any of its
Subsidiaries.

17

 

     10. Non-Competition; Non-Solicitation; Non-Disparagement.

          (a) For the reasons and consideration specified in Section 8, Employee hereby
covenants and agrees that, during the Term of Non-Competition, Employee shall not, directly or
indirectly, individually or as an officer, director, manager, employee, stockholder, consultant,
contractor, partner, member, joint venturer, agent, equity owner or in any capacity whatsoever:

               (i) own, engage in, manage, operate, join, control, be employed by, provide Competing Services
to, or participate in the ownership, management, operation or control of or provision of Competing
Services to, a Competing Business operating in the Geographic Area;

               (ii) knowingly recruit, hire, assist in hiring, attempt to hire, or contact or solicit with
respect to hiring any Person who, at any time during the 12 month period ending on the Date of
Termination, was an employee of the Company; provided, that Employee may hire any Person that
served as an administrative assistant or clerical employee at the time Employee’s employment with
the Company terminates;

               (iii) induce or attempt to induce any employee of the Company to terminate, or in any way
interfere with, the relationship between the Company and any employee thereof; or

               (iv) induce or attempt to induce any customer, client, patient, supplier, service provider, or
other business relation of the Company in the Geographic Area to cease doing business with the
Company, or in any way interfere with the relationship between the Company and any such Person.

          Notwithstanding the foregoing, the Company agrees that Employee may own less than one percent
of the outstanding voting securities of any publicly traded company that is a Competing Business so
long as Employee does not otherwise participate in such competing business in any way prohibited by
this Section 10. This Section 10(a) shall not apply in the event Company breaches
any of its obligations under Section 5 or 6.

          (b) Employee shall not make any negative or disparaging comments regarding the Company, its
Subsidiaries or Affiliates or any of their respective officers, directors, shareholders, partners,
members, managers, agents or employees (collectively, the “Representatives”), including
regarding the performance of the Company, its Subsidiaries or Affiliates, or otherwise take any
action that could reasonably be expected to adversely affect the Company, its Subsidiaries or
Affiliates or the personal or professional reputation of any of their respective Representatives.
Information required to be disclosed by Employee pursuant to any applicable law, court order,
subpoena, process or governmental decree shall not constitute a violation or breach of this
Section 10(b); provided, that Employee delivers written notice of such
required disclosure to the Company promptly before making such disclosure if such notice is
not prohibited by applicable law, court order, subpoena, process or governmental decree.

          (c) Employee acknowledges that the geographic boundaries, scope of prohibited activities, and
time duration of the preceding paragraphs in this Section 10 (including the defined terms
for “Competing Business,” “Geographic Area,” and “Term of

18

 

Non-Competition” set forth in Section
1) are reasonable in nature and are no broader than are necessary to maintain the goodwill of
the Company and the confidentiality of its Confidential Information and to protect the goodwill and
other legitimate business interests of the Company, and also that the enforcement of such covenants
would not cause Employee any undue hardship or unreasonably interfere with Employee’s ability to
earn a livelihood. If Employee violates the covenants and restrictions in this Section 10
and the Company brings legal action for injunctive or other equitable relief, Employee agrees that
the Company shall not be deprived of the benefit of the full period of the restrictive covenant, as
a result of the time involved in obtaining such relief. Accordingly, Employee agrees that the
provisions in Section 10(a) shall have a duration determined pursuant to Section
10(a), computed from the date the legal or equitable relief is granted.

          (d) If any court in any jurisdiction determines that any portion of this Section 10
(including the defined terms for “Competing Business,” “Geographic Area,” and “Term of
Non-Competition” set forth in Section 1) is invalid or unenforceable within such
jurisdiction under circumstances then existing, the remainder of this Section 10 (including
the defined terms for “Competing Business,” “Geographic Area,” and “Term of Non-Competition” set
forth in Section 1) shall not thereby be affected and shall be given full effect without
regard to the invalid or unenforceable provisions. If any court in any jurisdiction construes any
of the provisions of this Section 10 (including the defined terms for “Competing Business,”
“Geographic Area,” and “Term of Non-Competition” set forth in Section 1) to be invalid or
unenforceable within such jurisdiction under circumstances then existing, because of the duration,
scope or geographical area of such provision, such court shall be required to substitute the
maximum duration, scope or geographical area reasonable under such circumstances within such
jurisdiction for the stated period, scope or area with respect to such jurisdiction and such court
shall be allowed to revise the restrictions contained herein to cover the maximum duration, scope
and area permitted by law, and to enforce such provision as so revised.

          (e) As used in this Section 10 (and the defined terms for “Competing Business,”
“Geographic Area,” and “Term of Non-Competition” set forth in Section 1), “Company” shall
include the Company and any of its Subsidiaries.

     11. Successors; Binding Agreement.

          (a) This Agreement is personal to Employee and shall not be assignable by Employee otherwise
than by will or the by laws of descent and distribution. This Agreement shall inure to the benefit
of and be enforceable by Employee’s personal and legal representatives, executors, administrators,
heirs, distributes, devisees and legatees.

          (b) This Agreement shall inure to the benefit of and be binding upon the Company and its
successors and assigns.

          (c) The Company shall require any successor (whether direct or indirect, by purchase, merger,
consolidation, sale of assets or otherwise) to all or substantially all of the business and/or
assets of the Company, by a written agreement in form and substance reasonably satisfactory to
Employee, to assume expressly and agree to perform this Agreement in the same manner and to the
same extent that the Company would be required to perform it if no such

19

 

succession had taken place.
Failure of the Company to obtain such agreement prior to the effectiveness of any such succession
shall be a breach of this Agreement and shall entitle Employee to compensation from the Company in
the same amount and on the same terms as Employee would be entitled to pursuant to Section
6 if Employee terminated Employee’s employment for Good Reason after, but before the second
anniversary of, the occurrence of a Change in Control, except that for purposes of implementing the
foregoing, the date on which any such succession becomes effective shall be deemed the Date of
Termination. As used in this Agreement and after any such succession, “Company” shall mean the
Company as hereinbefore defined and any successor and/or assigns as aforesaid which assumes and
agrees to perform this Agreement by operation of law, or otherwise.

     12. Effect of Agreement on Plans and Agreements Governing Awards. Notwithstanding anything
to the contrary contained in any plan or agreement governing an Award granted to Employee prior to,
on or after the date of this Agreement, the respective meanings of “Cause” and “disability” as used
in any such plans or agreements shall have the meaning ascribed to such terms by this Agreement for
purposes of giving effect to such Awards on and after the date of this Agreement.

     13. Miscellaneous.

     (a) Construction. This Agreement shall be deemed drafted equally by both the parties. Its
language shall be construed as a whole and according to its fair meaning. Any presumption or
principle that the language is to be construed against any party shall not apply. The headings in
this Agreement are only for convenience and are not intended to affect construction or
interpretation. Any references to paragraphs, subparagraphs, sections, subsections or clauses are
to those parts of this Agreement, unless the context clearly indicates to the contrary. Also,
unless the context clearly indicates to the contrary, (i) the plural includes the singular and the
singular includes the plural; (ii) “and” and “or” are each used both conjunctively and
disjunctively; (iii) “any,” “all,” “each,” or “every” means “any and all”, and “each and every”;
(iv) “includes” and “including” are each “without limitation”; (v) “herein,” “hereof,” “hereunder”
and other similar compounds of the word “here” refer to the entire Agreement and not to any
particular paragraph, subparagraph, section or subsection; and (vi) all pronouns and any variations
thereof shall be deemed to refer to the masculine, feminine, neuter, singular or plural as the
identity of the entities or persons referred to may require.

     (b) Notices. All notices and other communications hereunder shall be in writing and shall
be given by hand delivery to the other party or by registered or certified mail, return receipt
requested, postage prepaid, addressed as follows:

	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	if to Employee:

	 	 	 	if to the Company:
	 	 
	 

	 	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	Robert A. Lefton

5528 Weatherby Lane

Plano, Texas 75093
	 	 	Odyssey HealthCare, Inc.

717 North Harwood, Suite 1500

Dallas, Texas 75201

Attn: General Counsel	 

20

 

	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	with a copy to:
	 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	P. Gregory Hidalgo

Vinson & Elkins L.L.P.

3700 Trammell Crow Center

2001 Ross Avenue

Dallas, Texas 75201

or to such other address as either party shall have furnished to the other in writing in accordance
herewith. Notice and communications shall be effective when actually received by the addressee.

     (c) Severability. Except as otherwise provided in Section 10(d), if any provision
of this Agreement is held to be illegal, invalid or unenforceable under present or future laws
effective during the term of this Agreement, such provision shall be fully severable; this
Agreement shall be construed and enforced as if such illegal, invalid or unenforceable provision
had never comprised a portion of this Agreement; and the remaining provisions of this Agreement
shall remain in full force and effect and shall not be affected by the illegal, invalid or
unenforceable provision or by its severance from this Agreement. Furthermore, except as otherwise
provided in Section 10(d), in lieu of such illegal, invalid or unenforceable provision
there shall be added automatically as part of this Agreement a provision as similar in terms to
such illegal, invalid or unenforceable provision as may be possible and be legal, valid and
enforceable.

     (d) Withholding. The Company may withhold from any amounts payable under this Agreement
such Federal, state or local taxes as shall be required to be withheld pursuant to any applicable
law or regulation.

     (e) No Waiver. Except as expressly set forth in this Agreement, no waiver by either party at any time of any
breach by the other party of, or compliance with, any condition or provision of this Agreement to
be performed by the other party shall be deemed a waiver of similar or dissimilar provisions or
conditions at any time.

     (f) Equitable and Other Relief. Employee acknowledges that money damages would be both
incalculable and an insufficient remedy for a breach of Sections 8, 9 or 10
by Employee and that any such breach would cause the Company irreparable harm. Accordingly, the
Company, in addition to any other remedies at law or in equity it may have, shall be entitled,
without the requirement of posting of bond or other security, to equitable relief, including
injunctive relief and specific performance, in connection with a breach of Sections 8,
9 or 10 by Employee. The parties agree that the only circumstances in which
disputes between them will not be subject exclusively to arbitration pursuant to the provisions in
Section 13(h) are in connection with a breach of Sections 8, 9 or
10 by Employee. If the Company files a pleading with a court seeking immediate injunctive
relief and this pleading is challenged by Employee and injunctive relief sought is not awarded, the
Company shall pay all of Employee’s costs and attorneys’ fees. The parties consent to venue in
Dallas County, Texas and to the exclusive jurisdiction of competent state courts or federal courts
in the state or district in Dallas County, Texas for all litigation which may be brought, subject
to the requirement for arbitration in

21

 

Section 13(h), with respect to the terms of, and the
transactions and relationships contemplated by, this Agreement. The parties further consent to the
non-exclusive jurisdiction of any state court located within a district which encompasses assets of
a party against which a judgment has been rendered for the enforcement of such judgment or award
against the assets of such party.

     (g) Entire Agreement. The provisions of this Agreement constitute the entire and complete
understanding and agreement between the parties with respect to the subject matter hereof, and
supersede all prior and contemporaneous oral and written agreements, representations and
understandings of the parties, which are hereby terminated. Employee and the Company acknowledge
and represent that there are no other promises, terms, conditions or representations (or written)
regarding any matter relevant hereto.

     (h) Arbitration. Except as otherwise provided in Section 13(f), in the event any
claim, demand, cause of action, dispute, controversy or other matter in question (“Claim”)
arises out of this Agreement (or its termination) or Employee’s employment (or termination of
employment) by the Company or its Subsidiaries, then, upon the written request of Employee or the
Company, such dispute or controversy will be submitted to binding arbitration. Any arbitration
will be conducted in accordance with the Federal Arbitration Act (“FAA”) and, to the extent
an issue is not addressed by the FAA or the FAA does not apply, with the then-current National
Rules for the Resolution of Employment Disputes of the American Arbitration Association
(“AAA”) or other rules of the AAA as applicable to the claims asserted. The results of
arbitration will be binding and conclusive on the parties hereto. All parties agree that venue for
arbitration will be in Dallas
County, Texas. If Employee is the prevailing party, then Employee will be entitled to
reimbursement by the Company for reasonable attorneys fees, reasonable costs and other reasonable
expenses pertaining to the arbitration. All proceedings conducted pursuant to this Section
13(h) will be kept confidential by all parties. THE ARBITRATORS SHALL HAVE NO AUTHORITY TO
AWARD PUNITIVE DAMAGES UNDER ANY CIRCUMSTANCES (WHETHER IT BE EXEMPLARY DAMAGES, TREBLE DAMAGES, OR
ANY OTHER PENALTY OR PUNITIVE TYPE OF DAMAGES). REGARDLESS OF WHETHER SUCH DAMAGES MAY BE
AVAILABLE UNDER TEXAS LAW, EMPLOYEE AND THE COMPANY EACH HEREBY WAIVE THE RIGHT, IF ANY, TO RECOVER
PUNITIVE DAMAGES IN CONNECTION WITH ANY CLAIMS. EMPLOYEE AND THE COMPANY ACKNOWLEDGE THAT BY
SIGNING THIS AGREEMENT EMPLOYEE AND THE COMPANY ARE WAIVING ANY RIGHT THAT EMPLOYEE OR THE COMPANY
MAY HAVE TO A JURY TRIAL OR, OTHER THAN AS EXPRESSLY PROVIDED BY SECTION 13(f), A TRIAL
BEFORE A JUDGE IN CONNECTION WITH, OR RELATING TO, A CLAIM.

     (i) Attorney Fees. The prevailing party in any dispute or controversy under or in
connection with this Agreement shall be entitled to reimbursement from the non-prevailing party for
all costs and reasonable legal fees incurred by such prevailing party.

     (j) Survival. Sections 1 and 4 through 13 of this Agreement shall
survive the termination of this Agreement.

     (k) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH
THE LAWS OF THE STATE OF TEXAS

22

 

WITHOUT REFERENCE TO PRINCIPLES OF CONFLICT OF LAWS OF TEXAS OR ANY
OTHER JURISDICTION, AND, WHERE APPLICABLE, THE LAWS OF THE UNITED STATES.

     (l) Amendments. This Agreement may not be amended or modified at any time except by a
written instrument approved by the Board and executed by the Company and Employee.

     (m) Employee Acknowledgement. Employee acknowledges that Employee has read and understands
this Agreement, is fully aware of its legal effect, has not acted in reliance upon any
representatives or promises made by the Company other than those contained in writing herein, and
has entered into this Agreement freely based on Employee’s own judgment.

     (n) Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be an
original, but all of which together shall constitute one and the same instrument. Any counterpart
of this Agreement that has attached to it separate signature pages which together contain the
signature of all parties hereto shall for all purposes be deemed a fully executed original.
Facsimile signatures shall constitute original signatures.

[SIGNATURE PAGE FOLLOWS]

23

 

     IN WITNESS WHEREOF, the parties have executed this Agreement effective as of the date and year
first above written.

	 	 	 	 	 
	 	COMPANY:

ODYSSEY HEALTHCARE, INC.

a Delaware corporation

 	 
	 	By:  	/s/ Richard R. Burnham
 	 
	 	 	Richard R. Burnham, Chairman of the Board 	 
	 	 	 	 
	 

	 	 	 	 	 
	 	EMPLOYEE:

 	 
	 	/s/ Robert A. Lefton
 	 
	 	    Robert A. Lefton 	 
	 	 	 
	 

[SIGNATURE PAGE TO EMPLOYMENT AGREEMENT]

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