Document:

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                                                                  EXHIBIT 10b(1)

                              HUBBELL INCORPORATED

                              AMENDED AND RESTATED
                    1973 STOCK OPTION PLAN FOR KEY EMPLOYEES

1.       Purpose of the Plan

         The purpose of the 1973 Stock Option Plan for Key Employees (the
"Plan") is to further the growth and development of Hubbell Incorporated (the
"Company") by providing an incentive through encouraging ownership of stock of
the Company to officers and other key employees who are in a position to
contribute materially to the prosperity of the Company, to increase their
interest in the Company's welfare and continue their services, and by affording
a means through which the Company can attract to its services, employees of
outstanding ability.

2.       Administration of the Plan

         The Plan shall be administered by the Compensation Committee (the
"Committee"), consisting solely of at least two or more members of the Board of
Directors of the Company ("Board of Directors") who are each "non-employee
directors" within the meaning of Rule 16b-3 under the Securities Exchange Act of
1934 (or any successor rule thereto). The members of the Committee shall be
appointed from time to time by the Board of Directors, to serve at the pleasure
of the Board. From and after the first meeting of shareholders at which
directors are to be elected that occurs after July 1, 1994, the Committee shall
contain at least two "outside directors" as that term is defined in Section
162(m) of the Internal Revenue Code of 1986, as amended (the "Code") (or any
successor section thereto).

         Subject to the express provisions of the Plan, the Committee shall have
authority in its discretion to determine the individuals to whom, and the time
or times at which options shall be granted, and the number of shares to be
subject to each option. In making such determinations, the Committee may take
into account the nature of the services rendered by the respective employees,
their present and potential contribution to the Company's success, and such
other factors as the Committee in its discretion shall deem relevant.

         Subject to the express provisions of the Plan, the Committee shall also
have authority to interpret the Plan, to prescribe, amend and rescind rules and
regulations relating to it, to determine the terms and provisions of the
respective option agreements (which need not be identical) and to make all other
determinations necessary or advisable for the administration of the Plan.

         The Committee shall select one of its members as a Chairman, who shall
preside at meetings and who shall have authority to execute and deliver
documents on behalf of the Committee. Meetings of the Committee shall be held at
such times and places as the members thereof may determine. The majority of its
members shall constitute a quorum, and all determinations of the Committee shall
be made by a majority of its members. No member of the Committee shall be liable
for anything done or omitted to be done by such member or by any
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                                                                               2

other member of the Committee in connection with this Plan, except for such
member's own willful misconduct or as expressly provided by statute.

3.       Stock Subject to the Plan

         Subject to adjustment as provided in Paragraph 5(d) of this Plan, the
aggregate number of shares of stock which may be issued under options granted
under this Plan shall be 3,600,000 shares of the Company's Class A Common Stock,
par value $.01 per share, and 17,445,670 shares of the Company's Class B Common
Stock, par value $.01 per share. The number of shares of stock which may be
issued under options granted under this Plan to any one individual in any fiscal
year shall not exceed 300,000 shares, subject to adjustment pursuant to Section
5(d) hereof.

         Options granted by the Committee may be "incentive stock options" (as
defined in Section 422 of the Code) or options which are not "incentive stock
options", or a combination thereof, as determined by the Committee.

         Options may be granted with respect to authorized but unissued shares.
In the event that any option under the Plan expires or is terminated for any
reason prior to the end of the period during which options may be granted, the
shares allocable to the unexercised portion of such option shall again be
available for the purposes of this Plan.

4.       Eligibility

         Options may be granted only to officers and other key employees of the
Company and subsidiary corporations (as defined in Section 424(f) of the Code).
Directors who are not officers or employees shall not be eligible. Subject to
the other provisions of this Plan, an individual may hold or be granted more
than one option. No incentive stock option shall be granted hereunder which
would permit the person to whom the option is granted to own (within the meaning
of Section 424(d) of the Code), immediately after the option is granted, stock
(including stock issuable upon the exercise of options) possessing more than 10
percent of the total combined voting power of all classes of stock of the
Company, unless at the time any such option is granted the option price is at
least 110 percent of the fair market value of the stock subject to the option,
and such option by its terms is not exercisable after the expiration of five
years from the date such option is granted.

5.       Terms and Conditions of Options

         Options shall be granted under this Plan upon such terms and conditions
as the Committee shall determine, subject to the following provisions:

         (a)      Option Price

         The option price of the stock subject to each option shall not be less
than 100 percent of the fair market value of such stock, as determined in good
faith by the Committee, on the date such option is granted.
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                                                                               3

         (b) Term of Option

         Options shall be granted for such term as the Committee shall determine
except that no option shall be exercisable after the expiration of ten years
from the date such option is granted.

         (c)      Exercise and Termination of Options

         The options granted under the Plan shall be exercisable immediately or
in such installments as the Committee may prescribe. The Committee may
accelerate the exercisability of options at any time in its sole discretion.

         Unless otherwise determined by the Committee, during the lifetime of
the individual to whom an option is granted, the option shall be exercisable
only by such individual.

         (A)      Termination of Employment -- General

         If the participant ceases to be an employee of the Company or a
subsidiary for any reason (including, without limitation, the sale of a
subsidiary) other than death, retirement with the consent of the Company or
retirement by reason of "Permanent Disability," such option shall expire on the
earlier of (i) the end of the option exercise period specified in the option or
(ii) the date three months from the date of the participant's termination of
employment (even though such participant is subsequently reemployed). "Permanent
Disability" shall mean that the participant is unable to engage in any
substantial gainful activity by reason of any medically determinable physical or
mental impairment which can be expected to result in death or which has lasted
or can be expected to last for a continuous period of not less than twelve
months.

         (B)      Retirement with Company Consent

         If the employment of the participant with the Company or its
subsidiaries shall terminate by reason of the participant's retirement with the
consent of the Company, such participant's stock option shall continue to mature
in the normal manner and the participant (or in the event of his death after the
date of retirement, his estate or the person who acquires his option by bequest
or inheritance or by reason of his death) shall have the right to exercise his
option until the later of (i) the date three years after the date of such
retirement or (ii) in the event that the participant's death occurs during such
three-year period the date twelve months after the death of the participant; but
in no event later than the end of the option exercise period specified in the
option; provided, however, that in the event that the participant retires with
the consent of the Company, the Committee may, in its discretion, provide that
the participant shall have the right to exercise his option until the end of the
option exercise period specified in the option.

         (C)      Retirement Due to Permanent Disability

         If the employment of the participant with the Company or its
subsidiaries shall terminate by reason of the participant's retirement due to
Permanent Disability, the participant (or in the event of his death after the
date of retirement, his estate or the person who acquires his option by
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                                                                               4

bequest or inheritance or by reason of his death) shall have the right to
exercise his option, to the extent that he could have exercised it at the date
of such disability retirement, until the later of (i) the date twelve months
after the date of such termination of employment or (ii) in the event that the
participant's death occurs during such twelve-month period the date twelve
months after the date of such death; but in no event later than the end of the
option exercise period specified in the option.

         (D)      Termination Due to Death

         If a participant's employment by the Company or any subsidiary
terminates by reason of death, any option held by the participant may thereafter
be immediately exercised, to the extent then exercisable, by his estate or the
person who acquires his option by bequest or inheritance or by reason of his
death for a period of one year from the date of such death or until the end of
the option exercise period specified in the option, whichever period is the
shorter.

         (E)      Miscellaneous

         A participant who is absent from work with the Company or a subsidiary
because of illness or temporary disability, or who is on leave of absence for
such purpose or reason as the Committee may approve, shall not be deemed during
the period of such absence, by reason of such absence, to have ceased to be an
employee of the Company or a subsidiary. Where a cessation of employment is to
be considered a retirement with the consent of the Company or by reason of
Permanent Disability for the purpose of this Plan shall be determined by the
Committee, which determination shall be final and conclusive.

         No option shall be exercisable unless at the time of exercise the
shares are covered by a currently effective registration statement filed under
the provisions of the Securities Act of 1933, as amended, or, in the sole
opinion of the Company and its counsel, the purchase of the shares upon exercise
of the option is otherwise exempt from the registration requirements of that
Act.

         Each participant shall be required, as a condition of exercising any
option, to make such arrangements with the Company as the Committee shall
determine for withholding (including, but not limited to, the retention of
shares by the Company or the delivery to the Company of shares, in each case
equal in fair market value as described in Paragraph 5(f) to the amount of all
or any portion of the withholding obligation pursuant to such rules as may be
prescribed by the Committee) and, in the event of the death of a participant, a
further condition of such exercise shall be the delivery to the Company of such
tax waivers and other documents as the Committee shall determine. With the
consent of the Committee, a participant may elect to have the Company retain a
number of shares otherwise issuable on exercise of an option, or to deliver
shares, in each case equal in fair market value as described in Paragraph 5(f)
to the amount of all or any portion of the participant's federal, state and
local income tax obligation resulting from such exercise determined at (a) the
participant's maximum marginal tax rates for stock option grants awarded prior
to July 1, 2000, and (b) the Company's minimum statutory tax withholding rates
for stock option grants awarded on or after July 1, 2000.
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                                                                               5

         (d)      Adjustments Upon Changes in Capitalization

         If (i) the Company shall at any time be involved in a transaction to
which Section 424(a) of the Code is applicable; (ii) the Company shall declare a
dividend payable in any class of shares, or shall subdivide or combine, its
shares; or (iii) any other event shall occur which in the judgment of the
Committee necessitates action by way of adjusting the terms of the outstanding
options, the Committee shall forthwith take any such action as in its judgment
shall be necessary to preserve the participant's rights substantially
proportionate to the rights existing prior to such event and to the extent that
such action shall include an increase or decrease in the number of shares
subject to outstanding options, the number of shares available under Paragraph 3
above shall be increased or decreased, as the case may be, proportionately. The
judgment of the Committee with respect to any matter referred to in this
Paragraph shall be conclusive and binding upon each participant.

         In the event of the proposed dissolution or liquidation of the Company,
or in the event of any proposed reorganization, merger or consolidation of the
Company with one or more corporations as a result of which the Company is not
the surviving corporation, or in the event of a proposed sale of all or
substantially all of the principal and/or assets of the Company to another
corporation, all options granted hereunder shall terminate as of a date to be
fixed by the Committee, provided that not less than 90 days' written notice of
the date so fixed shall be given to each participant, and each participant shall
have the right during such period to exercise his option as to all or any part
of the shares covered thereby to the extent such option is then otherwise
exercisable pursuant to the provisions of this Plan and of the option; and
provided further, however, that the Board of Directors may, in their discretion,
substitute or cause to be substituted new options for each such outstanding
option, provided each such new option applies to the stock of the new employer
corporation or a parent or subsidiary corporation of such corporation.

         (e)      Nontransferability of Options

         Unless otherwise determined by the Committee, no option shall be
assigned or transferable, except by will or by the laws of descent and
distribution.

         (f)      Payment for Stock

         The option price payable upon exercise of an option shall be payable to
the Company either (i) in cash (including check, bank draft, or money order),
(ii) by delivery to the Company of shares of either class of common stock of the
Company or a combination of common stock and cash, or (iii) to the extent
authorized by the Committee, at the written election of the optionee, by
delivery of irrevocable instructions to a broker to sell shares of common stock
otherwise deliverable upon exercise of a stock option and to deliver to the
Company an amount equal to the aggregate exercise price. The value of any common
stock so delivered shall be the fair market value of such common stock, as
determined in good faith by the Committee, on the date of the stock option
exercise.
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                                                                               6

         (g)      Limitation on Incentive Stock Options

         With respect to incentive stock options granted after December 31,
1986, the aggregate fair market value (determined at the time the option is
granted) of the stock with respect to which incentive stock options are
exercisable for the first time by a participant during any calendar year (under
all such plans of the individual's employer corporation and its parent and
subsidiary corporations) shall not exceed $100,000.

6.       Term of Plan

         No option shall be granted pursuant to the Plan after March 10, 2007.

7.       Termination and Amendment of Plan

         The Board of Directors of the Company may at any time amend, suspend or
terminate the Plan, except that no amendment which would increase the maximum
number of shares which may be issued under options granted under this Plan shall
be effective unless, within twelve months before or after the Board adopts such
amendment, it is approved by shareholders. No amendment, suspension or
termination of this Plan shall, without the consent of the participant,
terminate, or adversely affect the participant's rights under, any outstanding
option.

8.       Privileges of Stock Ownership

         The holder of an option shall not be entitled to the privileges of
stock ownership as to any shares of the Company not actually issued to him. No
shares shall be issued upon the exercise of an option until all applicable legal
requirements shall have been complied with to the satisfaction of the Company
and its counsel.

9.       Time of Granting of Options

         The granting of an option pursuant to this Plan shall take place at the
time the Committee makes a determination that an employee shall receive an
option.

10.      Construction

         Words and terms used in this Plan which are defined or used in Sections
421, 422 or 424 of the Code shall, unless the context clearly requires
otherwise, have the meanings assigned to them therein, in the regulations
promulgated thereunder and in the decisions construing the provisions thereof.
The place of administration of this Plan shall be conclusively deemed to be
within the State of Connecticut, and the validity, construction, interpretation
and effect of the Plan, its rules and regulations and the rights of any and all
participants having or claiming to have an interest therein or thereunder, shall
be governed by and determined conclusively and solely in accordance with the
laws of the State of Connecticut without regard to any conflicts of laws
provisions.
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                                                                               7

11.      Provisions Relating to Change of Control

                  (i) Each option granted under this Plan shall, to the extent
then exercisable determined after applying Paragraph 11(ii) below, have a
limited right of surrender allowing a participant who is an Officer, or any
other participant in the discretion of the Committee, to surrender his option
within the 30-day period following the Change of Control and to receive in cash,
in lieu of exercising the option, the amount by which the fair market value of
the common stock which the option represents exceeds the option exercise price
for all or part of the shares of common stock which are subject to the related
option. For this purpose, the fair market value of common stock shall be
determined as follows:

                  (a)      if the share was a share of the Company's Class A
                           Common Stock, the fair market value shall be deemed
                           to be the closing price of one share of the Company's
                           Class A Common Stock on the New York Stock Exchange
                           on that day, within the 60 days preceding the date on
                           which the Change of Control occurs, on which such
                           closing price was the highest. In the event that the
                           shares are not listed or admitted to trading on such
                           exchange, the fair market value shall be deemed to be
                           the closing price of one share of the Company's Class
                           A Common Stock on the principal national securities
                           exchange on which the shares are listed or admitted
                           to trading, or, if the shares are not listed or
                           admitted to trading on any national securities
                           exchange, the average of the highest reported bid and
                           lowest reported asked prices as reported on the New
                           York Stock Exchange (the "NYSE") or similar
                           organization if the NYSE is no longer reporting such
                           information. If on any such date the shares are not
                           quoted by any such organization, the fair market
                           value of the shares on such date, as determined in
                           good faith by the Board of Directors of the Company,
                           shall be used; or

                  (b)      if the share was a share of the Company's Class B
                           Common Stock, the fair market value shall be deemed
                           to be the closing price of one share of the Company's
                           Class B Common Stock on the NYSE on that day, within
                           the 60 days preceding the date on which the Change of
                           Control occurs, on which such closing price was the
                           highest. In the event that the shares are not listed
                           or admitted to trading on such exchange, the fair
                           market value shall be deemed to be the closing price
                           of one share of the Company's Class B Common Stock on
                           the principal national securities exchange on which
                           the shares are listed or admitted to trading, or, if
                           the shares are not listed or admitted to trading on
                           any national securities exchange, the average of the
                           highest reported bid and lowest reported asked prices
                           as reported on the NYSE or similar organization if
                           the NYSE is no longer reporting such information. If
                           on any such date the shares are not quoted by any
                           such organization, the fair market value of the
                           shares on such date, as determined in good faith by
                           the Board of Directors of the Company, shall be used.
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                                                                               8

Notwithstanding the foregoing, if the payment of cash in respect of such option
would cause the Change in Control transaction to be ineligible for
pooling-of-interests accounting under APB No. 16, unless and until the Committee
provides otherwise, such payment shall not be made.

                  (ii) Notwithstanding any other provisions of this Plan, in the
event of a Change of Control all outstanding options which are not then
exercisable, except for incentive stock options granted on or after January 1,
1987, shall be immediately exercisable in full.

         For purposes of this section the following definitions shall apply:

         "Change of Control" shall mean any one of the following:

                  (w)      Continuing Directors no longer constitute at least
                           2/3 of the Directors;

                  (x)      any person or group of persons (as defined in Rule
                           13d-5 under the Securities Exchange Act of 1934),
                           together with its affiliates, becomes the beneficial
                           owner, directly or indirectly, of 20% or more of the
                           voting power of the then outstanding securities of
                           the Company entitled to vote for the election of the
                           Company's Directors; provided that this Paragraph 11
                           shall not apply with respect to any holding of
                           securities by (A) the trust under a Trust Indenture
                           dated September 2, 1957 made by Louie E. Roche, (B)
                           the trust under a Trust Indenture dated August 23,
                           1957 made by Harvey Hubbell, and (C) any employee
                           benefit plan (within the meaning of Section 3(3) of
                           the Employee Retirement Income Security Act of 1974,
                           as amended) maintained by the Company or any
                           affiliate of the Company;

                  (y)      the approval by the Company's stockholders of the
                           merger or consolidation of the Company with any other
                           corporation, the sale of substantially all of the
                           assets of the Company or the liquidation or
                           dissolution of the Company, unless, in the case of a
                           merger or consolidation, the incumbent Directors in
                           office immediately prior to such merger or
                           consolidation will constitute at least 2/3 of the
                           Directors of the surviving corporation of such merger
                           or consolidation and any parent (as such term is
                           defined in Rule 12b-2 under the Securities Exchange
                           Act of 1934) of such corporation; or

                  (z)      at least 2/3 of the incumbent Directors in office
                           immediately prior to any other action proposed to be
                           taken by the Company's stockholders determine that
                           such proposed action, if taken, would constitute a
                           change of control of the Company and such action is
                           taken.

         "Continuing Director" shall mean any individual who is a member of the
Company's Board of Directors on December 9, 1986 or was designated (before such
person's initial election as a Director) as a Continuing Director by 2/3 of the
then Continuing Directors.
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                                                                               9

         "Director" shall mean any individual who is a member of the Company's
Board of Directors on the date the action in question was taken.

         "Officer" shall mean each of the officers specified in Section 1 of
Article IV of the by-laws of the Company except for any such officer whose title
begins with the word "Assistant".

                                    * * * * *

         Adopted by the Board of Directors on March 13, 1973 and amended May 5,
1980, December 9, 1980, March 9, 1982, June 12, 1985, March 10, 1987, May 7,
1990, September 12, 1991, May 2, 1994, May 5, 1997, May 3, 1999, December 8,
1999 and May 7, 2001.<PAGE>   1
                                                                    Exhibit 4.01

                  This Note is a Global Security within the meaning of the
Indenture hereinafter referred to and is registered in the name of the
Depository named below or a nominee of the Depository. This Note is not
exchangeable for Notes registered in the name of a Person other than the
Depository or its nominee except in the limited circumstances described herein
and in the Indenture, and no transfer of this Note (other than a transfer of
this Note as a whole by the Depository to a nominee of the Depository or by a
nominee of the Depository to the Depository or another nominee of the
Depository) may be registered except in the limited circumstances described
herein.

                  Unless this certificate is presented by an authorized
representative of The Depository Trust Company, a New York corporation (the
"Depository"), to the Company or its agent for registration of transfer,
exchange, or payment, and any certificate issued is registered in the name of
Cede & Co. or in such other name as is requested by an authorized representative
of the Depository (and any payment is made to Cede & Co. or to such other entity
as is requested by an authorized representative of the Depository), ANY
TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest
herein.

                                 CITIGROUP INC.
                         5.50% NOTES DUE AUGUST 9, 2006

REGISTERED                                                            REGISTERED

                                                              CUSIP: 172967 BH 3
                                                            ISIN: US172967 BH 32
                                                           Common Code: 13400172

No. R-                                                                         $

                  CITIGROUP INC., a Delaware corporation (the "Company", which
term includes any successor Person under the Indenture), for value received,
hereby promises to pay to Cede & Co., or registered assigns, the principal sum
of $____________ on August 9, 2006 and to pay interest thereon from and
including August 9, 2001 or from the most recent Interest Payment Date to which
interest has been paid or duly provided for, semi-annually, on February 9 and
August 9 of each year, commencing February 11, 2002, at the rate of 5.50% per
annum, until the principal hereof is paid or made available for payment. The
interest so payable, and punctually paid or duly provided for, on any Interest
Payment Date will, as provided in the Indenture, be paid to the Person in whose
name this Note is registered at the close of business on the Record Date for
such interest, which shall be the January 15 and July 15 (whether or not a
Business Day) immediately preceding such Interest Payment Date.
<PAGE>   2
                  Any such interest not so punctually paid or duly provided for
will forthwith cease to be payable to the holder on such Record Date and may
either be paid to the Person in whose name this Note is registered at the close
of business on a subsequent Record Date, such subsequent Record Date to be not
less than five days prior to the date of payment of such defaulted interest,
notice whereof shall be given to holders of Notes of this series not less than
15 days prior to such subsequent Record Date, or be paid at any time in any
other lawful manner not inconsistent with the requirements of any securities
exchange on which the Notes of this series may be listed, and upon such notice
as may be required by such exchange, all as more fully provided in the
Indenture.

                  Interest hereon will be calculated on the basis of a 360-day
year comprised of twelve 30-day months.

                  If either an Interest Payment Date or the Maturity of the
Notes falls on a day that is not a Business Day, such Interest Payment Date or
Maturity will be the next succeeding Business Day. If a date for payment of
interest or principal on the Notes falls on a day that is not a business day in
the place of payment, such payment will be made on the next succeeding business
day in such place of payment as if made on the date the payment was due. No
interest will accrue on any amounts payable for the period from and after the
due date for payment of such principal or interest.

                  For these purposes, "Business Day" means any day which is a
day on which commercial banks settle payments and are open for general business
in The City of New York.

                  Payment of the principal of and interest on this Note will be
made at the office or agency of the Trustee maintained for that purpose in The
City of New York.

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

                  Unless the certificate of authentication hereon has been
executed by the Trustee or by an authenticating agent on behalf of the Trustee
by manual signature, this Note shall not be entitled to any benefit under the
Indenture or be valid or obligatory for any purpose.

                                       2
<PAGE>   3
                  IN WITNESS WHEREOF, the Company has caused this instrument to
be duly executed under its corporate seal.

Dated:  August 9, 2001

                                    CITIGROUP INC.

                                    By:_________________________________
                                    Title:  Treasurer

ATTEST:

By:___________________________
Assistant Secretary

                                       3
<PAGE>   4
                  This is one of the Notes of the series issued under the
within-mentioned Indenture.

Dated:  August 9, 2001

                                    THE BANK OF NEW YORK,
                                    as Trustee

                                    By:_________________________________
                                          Name:
                                          Title:

                                       4
<PAGE>   5
         This Note is one of a duly authorized issue of Securities of the
Company (the "Notes"), issued and to be issued in one or more series under the
Indenture, dated as of March 15, 1987 (as amended and supplemented to date, the
"Indenture"), between the Company and The Bank of New York, as Trustee (the
"Trustee", which term includes any successor trustee under the Indenture), to
which Indenture and all indentures supplemental thereto reference is hereby made
for a statement of the respective rights, limitations of rights, duties and
immunities thereunder of the Company, the Trustee and the holders of the Notes
and of the terms upon which the Notes are, and are to be, authenticated and
delivered. This Note is one of the series designated on the face hereof,
initially limited in aggregate principal to $1,500,000,000.

         If an event of default (as defined in the Indenture) with respect to
Notes of this series shall occur and be continuing, the principal of the Notes
of this series may be declared due and payable in the manner and with the effect
provided in the Indenture.

         The Indenture contains provisions for defeasance at any time of the
entire indebtedness of this Note upon compliance by the Company with certain
conditions set forth in Sections 11.03 and 11.04 thereof, which provisions apply
to this Note.

         The Indenture contains provisions permitting the Company and the
Trustee, without the consent of the holders of the Securities, to establish,
among other things, the form and terms of any series of Securities issuable
thereunder by one or more supplemental indentures, and, with the consent of the
holders of not less than 66 2/3% in aggregate principal amount of Securities at
the time outstanding which are affected thereby, to modify the Indenture or any
supplemental indenture or the rights of the holders of Securities of such series
to be affected, provided that no such modification will (i) extend the fixed
maturity of any Securities, reduce the rate or extend the time of payment of
interest thereon, reduce the principal amount thereof or the premium, if any,
thereon, reduce the amount of the principal of Original Issue Discount
Securities payable on any date, change the currency in which Securities are
payable, or impair the right to institute suit for the enforcement of any such
payment on or after the maturity thereof, without the consent of the holder of
each Security so affected, or (ii) reduce the aforesaid percentage of Securities
of any series the consent of the holders of which is required for any such
modification without the consent of the holders of all Securities of such series
then outstanding, or (iii) modify, without the written consent of the Trustee,
the rights, duties or immunities of the Trustee.

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

         This Note is a Global Security registered in the name of a nominee of
the Depository. This Note is exchangeable for Notes registered in the name of a
person other than the Depository or its nominee only in the limited
circumstances hereinafter described. Unless and until it is exchanged in whole
or in part for definitive Notes in certificated form, this Note may not be

                                       5
<PAGE>   6
transferred except as a whole by the Depository to a nominee of the Depository
or by a nominee of the Depository to the Depository or another nominee of the
Depository.

         The Notes represented by this Global Security are exchangeable for
definitive Notes in certificated form of like tenor as such Notes in
denominations of $1,000 and integral multiples thereof only if (i) the
Depository notifies the Company that it is unwilling or unable to continue as
Depository for the Notes or (ii) the Depository ceases to be a clearing agency
registered under the Securities Exchange Act of 1934, as amended, or (iii) the
Company in its sole discretion decides to allow the Notes to be exchanged for
definitive Notes in registered form. Any Notes that are exchangeable pursuant to
the preceding sentence are exchangeable for certificated Notes issuable in
authorized denominations and registered in such names as the Depository shall
direct. As provided in the Indenture and subject to certain limitations therein
set forth, the transfer of definitive Notes in certificated form is registrable
in the register maintained by the Company in The City of New York for such
purpose, upon surrender of the definitive Note for registration of transfer at
the office or agency of the registrar, duly endorsed by, or accompanied by a
written instrument of transfer in form satisfactory to the Company and the
registrar duly executed by, the holder thereof or his attorney duly authorized
in writing, and thereupon one or more new Notes of this series and of like
tenor, of authorized denominations and for the same aggregate principal amount,
will be issued to the designated transferee or transferees. Subject to the
foregoing, this Note is not exchangeable, except for a Global Security or Global
Securities of this issue of the same principal amount to be registered in the
name of the Depository or its nominee.

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

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

         The Company will pay additional amounts ("Additional Amounts") to the
beneficial owner of any Note that is a non-United States person in order to
ensure that every net payment on such Note will not be less, due to payment of
U.S. withholding tax, than the amount then due and payable. For this purpose, a
"net payment" on a Note means a payment by the Company or a paying agent,
including payment of principal and interest, after deduction for any present or
future tax, assessment or other governmental charge of the United States. These
Additional Amounts will constitute additional interest on the Note.

         The Company will not be required to pay Additional Amounts, however, in
any of the circumstances described in items (1) through (13) below.

         (1)      Additional Amounts will not be payable if a payment on a Note
                  is reduced as a result of any tax, assessment or other
                  governmental charge that is imposed or withheld solely by
                  reason of the beneficial owner:

                                       6
<PAGE>   7
                  (a)      having a relationship with the United States as a
                           citizen, resident or otherwise;

                  (b)      having had such a relationship in the past or

                  (c)      being considered as having had such a relationship.

         (2)      Additional Amounts will not be payable if a payment on a Note
                  is reduced as a result of any tax, assessment or other
                  governmental charge that is imposed or withheld solely by
                  reason of the beneficial owner:

                  (a)      being treated as present in or engaged in a trade or
                           business in the United States;

                  (b)      being treated as having been present in or engaged in
                           a trade or business in the United States in the past
                           or

                  (c)      having or having had a permanent establishment in the
                           United States.

         (3)      Additional Amounts will not be payable if a payment on a Note
                  is reduced as a result of any tax, assessment or other
                  governmental charge that is imposed or withheld solely by
                  reason of the beneficial owner being or having been a:

                  (a)      personal holding company;

                  (b)      foreign personal holding company;

                  (c)      foreign private foundation or other foreign
                           tax-exempt organization;

                  (d)      passive foreign investment company; (e) controlled
                           foreign corporation or (f) corporation which has
                           accumulated earnings to avoid United States federal
                           income tax.

         (4)      Additional Amounts will not be payable if a payment on a Note
                  is reduced as a result of any tax, assessment or other
                  governmental charge that is imposed or withheld solely by
                  reason of the beneficial owner owning or having owned,
                  actually or constructively, 10 percent or more of the total
                  combined voting power of all classes of stock of the Company
                  entitled to vote.

For purposes of items (1) through (4) above, "beneficial owner" means a
fiduciary, settlor, beneficiary, member or shareholder of the holder if the
holder is an estate, trust, partnership, limited liability company, corporation
or other entity, or a person holding a power over an estate or trust
administered by a fiduciary holder.

         (5)      Additional Amounts will not be payable to any beneficial owner
                  of a Note that is a:

                  (a)      fiduciary;
                  (b)      partnership;
                  (c)      limited liability company or
                  (d)      other fiscally transparent entity

                                       7
<PAGE>   8
                  or that is not the sole beneficial owner of the Note, or any
                  portion of the Note. However, this exception to the obligation
                  to pay Additional Amounts will only apply to the extent that a
                  beneficiary or settlor in relation to the fiduciary, or a
                  beneficial owner or member of the partnership, limited
                  liability company or other fiscally transparent entity, would
                  not have been entitled to the payment of an Additional Amount
                  had the beneficiary, settlor, beneficial owner or member
                  received directly its beneficial or distributive share of the
                  payment.

         (6)      Additional Amounts will not be payable if a payment on a Note
                  is reduced as a result of any tax, assessment or other
                  governmental charge that is imposed or withheld solely by
                  reason of the failure of the beneficial owner or any other
                  person to comply with applicable certification,
                  identification, documentation or other information reporting
                  requirements. This exception to the obligation to pay
                  Additional Amounts will only apply if compliance with such
                  reporting requirements is required by statute or regulation of
                  the United States or by an applicable income tax treaty to
                  which the United States is a party as a precondition to
                  exemption from such tax, assessment or other governmental
                  charge.

         (7)      Additional Amounts will not be payable if a payment on a Note
                  is reduced as a result of any tax, assessment or other
                  governmental charge that is collected or imposed by any method
                  other than by withholding from a payment on a Note by the
                  Company or a paying agent.

         (8)      Additional Amounts will not be payable if a payment on a Note
                  is reduced as a result of any tax, assessment or other
                  governmental charge that is imposed or withheld by reason of a
                  change in law, regulation, or administrative or judicial
                  interpretation that becomes effective more than 15 days after
                  the payment becomes due or is duly provided for, whichever
                  occurs later.

         (9)      Additional Amounts will not be payable if a payment on a Note
                  is reduced as a result of any tax, assessment or other
                  governmental charge that is imposed or withheld by reason of
                  the presentation by the beneficial owner of a Note for payment
                  more than 30 days after the date on which such payment becomes
                  due or is duly provided for, whichever occurs later.

         (10)     Additional Amounts will not be payable if a payment on a Note
                  is reduced as a result of any:

                  (a)      estate tax;
                  (b)      inheritance tax;
                  (c)      gift tax;
                  (d)      sales tax;
                  (e)      excise tax;
                  (f)      transfer tax;

                                       8
<PAGE>   9
                  (g)      wealth tax;
                  (h)      personal property tax or
                  (i)      any similar tax, assessment or other governmental
                           charge.

         (11)     Additional Amounts will not be payable if a payment on a Note
                  is reduced as a result of any tax, assessment, or other
                  governmental charge required to be withheld by any paying
                  agent from a payment of principal or interest on a Note if
                  such payment can be made without such withholding by any other
                  paying agent.

         (12)     Additional amounts will not be payable if a payment on a Note
                  is reduced as a result of any tax, assessment or other
                  governmental charge that is required to be made pursuant to
                  any European Union directive on the taxation of savings income
                  or any law implementing or complying with, or introduced to
                  conform to, any such directive.

         (13)     Additional Amounts will not be payable if a payment on a Note
                  is reduced as a result of any combination of items (1) through
                  (12) above.

         Except as specifically provided herein, the Company will not be
required to make any payment of any tax, assessment or other governmental charge
imposed by any government or a political subdivision or taxing authority of such
government.

         As used in this Note, "United States person" means:

         (a)      any individual who is a citizen or resident of the United
                  States;
         (b)      any corporation, partnership or other entity created or
                  organized in or under the laws of the United States;
         (c)      any estate if the income of such estate falls within the
                  federal income tax jurisdiction of the United States
                  regardless of the source of such income and
         (d)      any trust if a United States court is able to exercise primary
                  supervision over its administration and one or more United
                  States persons have the authority to control all of the
                  substantial decisions of the trust.

         Additionally, "non-United States person" means a person who is not a
United States person, and "United States" means the United States of America,
including the States and the District of Columbia, its territories, its
possessions and other areas within its jurisdiction.

         Except as provided below, the Notes may not be redeemed prior to
maturity.

         (1)      The Company may, at its option, redeem the Notes if:

                  (a)      the Company becomes or will become obligated to pay
                           Additional Amounts as described above;
                  (b)      the obligation to pay Additional Amounts arises as a
                           result of any change in the laws, regulations or
                           rulings of the United States, or an official position

                                       9
<PAGE>   10
                           regarding the application or interpretation of such
                           laws, regulations or rulings, which change is
                           announced or becomes effective on or after August 2,
                           2001 and (c) the Company determines, in its business
                           judgment, that the obligation to pay such Additional
                           Amounts cannot be avoided by the use of reasonable
                           measures available to it, other than substituting the
                           obligor under the Notes or taking any action that
                           would entail a material cost to the Company.

         (2)      The Company may also redeem the Notes, at its option, if:

                  (a)      any act is taken by a taxing authority of the United
                           States on or after August 2, 2001, whether or not
                           such act is taken in relation to the Company or any
                           affiliate, that results in a substantial probability
                           that the Company will or may be required to pay
                           Additional Amounts as described above;
                  (b)      the Company determines, in its business judgment,
                           that the obligation to pay such Additional Amounts
                           cannot be avoided by the use of reasonable measures
                           available to it, other than substituting the obligor
                           under the Notes or taking any action that would
                           entail a material cost to the Company and
                  (c)      the Company receives an opinion of independent
                           counsel to the effect that an act taken by a taxing
                           authority of the United States results in a
                           substantial probability that the Company will or may
                           be required to pay the Additional Amounts described
                           under above, and delivers to the Trustee a
                           certificate, signed by a duly authorized officer,
                           stating that based on such opinion the Company is
                           entitled to redeem the Notes pursuant to their terms.

Any redemption of the Notes as set forth in clauses (1) or (2) above shall be in
whole, and not in part, and will be made at a redemption price equal to 100% of
the principal amount of the Notes Outstanding plus accrued interest thereon to
the date of redemption. Holders shall be given not less than 30 days nor more
than 60 days prior notice by the Trustee of the date fixed for such redemption.

         All terms used in this Note which are defined in the Indenture shall
have the meanings assigned to them in the Indenture. The Notes are governed by
the laws of the State of New York.

                                       10

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