Document:

EXHIBIT 10.1

JPMorgan Chase Bank, National Association
P.O. Box 161
60 Victoria Embankment
London EC4Y 0JP
England
                                                                     May 8, 2007

To: Chemed Corporation
2600 Chemed Center
255 East Fifth Street
Cincinnati, OH 45202
Attention: Chief Financial Officer
Telephone No.:    (513) 762-6901
Facsimile No.:    (513) 287-6713

Re: Call Option Transaction

         The purpose of this letter agreement (this "Confirmation") is to
confirm the terms and conditions of the call option transaction entered into
between JPMorgan Chase Bank, National Association, London Branch ("JPMorgan")
and Chemed Corporation ("Counterparty") on the Trade Date specified below (the
"Transaction"). This letter agreement constitutes a "Confirmation" as referred
to in the ISDA Master Agreement specified below. This Confirmation shall replace
any previous agreements and serve as the final documentation for this
Transaction.

         The definitions and provisions contained in the 2002 ISDA Equity
Derivatives Definitions (the "Equity Definitions"), as published by the
International Swaps and Derivatives Association, Inc. ("ISDA") are incorporated
into this Confirmation. In the event of any inconsistency between the Equity
Definitions and this Confirmation, this Confirmation shall govern. This
Transaction shall constitute a Share Option Transaction within the meaning set
forth in the Equity Definitions. Certain defined terms used herein have the
meanings assigned to them in the Offering Memorandum dated May 8, 2007 (the
"Offering Memorandum") relating to the USD 180,000,000 principal amount of
1.875% Convertible Senior Notes due 2014, (the "Convertible Notes" and each USD
1,000 principal amount of Convertible Notes, a "Convertible Note") issued by
Counterparty pursuant to an Indenture to be dated May 14, 2007 between
Counterparty and LaSalle Bank, N.A., as trustee (the "Indenture"). In the event
of any inconsistency between the terms defined in the Offering Memorandum, the
Indenture and this Confirmation, this Confirmation shall govern. The parties
acknowledge that this Confirmation is entered into on the date hereof with the
understanding that (i) definitions set forth in the Indenture which are also
defined herein by reference to the Indenture and (ii) sections of the Indenture
that are referred to herein will conform to the descriptions thereof in the
Offering Memorandum. If any such definitions in the Indenture or any such
sections of the Indenture differ from the descriptions thereof in the Offering
Memorandum, the descriptions thereof in the Offering Memorandum will govern for
purposes of this Confirmation. The parties further acknowledge that the
Indenture section numbers used herein are based on the draft of the Indenture
last reviewed by JPMorgan as of the date of this Confirmation, and if any such
section numbers are changed in the Indenture as executed, the parties will amend
this Confirmation in good faith to preserve the intent of the parties. For the
avoidance of doubt, references to the Indenture herein are references to the
Indenture as in effect on the date of its execution and if the Indenture is
amended following its execution, any such amendment will be disregarded for
purposes of this Confirmation unless the parties agree otherwise in writing.

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         Each party is hereby advised, and each such party acknowledges, that
the other party has engaged in, or refrained from engaging in, substantial
financial transactions and has taken other material actions in reliance upon the
parties' entry into the Transaction to which this Confirmation relates on the
terms and conditions set forth below.

1. This Confirmation evidences a complete and binding agreement between JPMorgan
and Counterparty as to the terms of the Transaction to which this Confirmation
relates. This Confirmation shall supplement, form a part of, and be subject to
an agreement in the form of the 2002 ISDA Master Agreement (the "Agreement") as
if JPMorgan and Counterparty had executed an agreement in such form (but without
any Schedule except for the election of the laws of the State of New York as the
governing law) on the Trade Date. In the event of any inconsistency between
provisions of that Agreement and this Confirmation, this Confirmation will
prevail for the purpose of the Transaction to which this Confirmation relates.
The parties hereby agree that no Transaction other than the Transaction to which
this Confirmation relates shall be governed by the Agreement.

2. The terms of the particular Transaction to which this Confirmation relates
are as follows:

   Trade Date:                               May 8, 2007

   Option Style:                             "Modified American", as described
                                              under "Procedures for Exercise"
                                              below

   Option Type:                              Call

   Buyer:                                    Counterparty

   Seller:                                   JPMorgan

   Shares:                                   The capital stock of Counterparty,
                                             par value USD 1 per Share
                                             (Exchange symbol "CHE")

   Number of Options:                        90,000; provided that the Number of
                                             Options shall be automatically
                                             increased as of the date of
                                             exercise (the "Greenshoe
                                             Exercise") by J.P. Morgan
                                             Securities Inc. and Citigroup
                                             Global Markets Inc. as
                                             representatives of the Initial
                                             Purchasers (as defined in the
                                             Purchase Agreement dated as of May
                                             8, 2007 between Counterparty, J.P.
                                             Morgan Securities Inc. and
                                             Citigroup Global Markets Inc. as
                                             representatives of the Initial
                                             Purchasers party thereto (the
                                             "Purchase Agreement")), of their
                                             option pursuant to Section 1 of
                                             the Purchase Agreement by the
                                             number of additional Convertible
                                             Notes in denominations of USD
                                             1,000 principal amount issued
                                             pursuant to such exercise (such
                                             Convertible Notes, the "Additional
                                             Convertible Notes") multiplied by
                                             50% (the "Additional Options").
                                             For the avoidance of doubt, the
                                             Number of Options shall be reduced
                                             by any Options exercised by
                                             Counterparty. In no event will the
                                             Number of Options be less than
                                             zero.

                                       2
<PAGE>

   Option Entitlement:                       As of any date, a number equal to
                                             the Conversion Rate as of such
                                             date (as defined in the Indenture,
                                             but without regard to any
                                             adjustments to the Conversion Rate
                                             pursuant to Section 11.02(h),
                                             Section 11.02(i) or to Section
                                             11.03 of the Indenture), for each
                                             Convertible Note.

   Strike Price:                             USD 80.7275

   Premium:                                  USD 24,702,300 (Premium per Option:
                                             USD 274.4700); provided that if
                                             the Number of Options is increased
                                             pursuant to the proviso to the
                                             definition of "Number of Options"
                                             above, there shall be an
                                             additional Premium equal to the
                                             product of the number of
                                             Additional Options and the Premium
                                             per Option (the "Additional
                                             Premium"), and such Additional
                                             Premium shall be paid by
                                             Counterparty to JPMorgan on the
                                             Additional Premium Payment Date.

   Premium Payment Date:                     May 14, 2007

   Additional Premium Payment Date:          The closing date for the purchase
                                             and sale of the Additional
                                             Convertible Notes.

   Exchange:                                 The New York Stock Exchange

   Related Exchange(s):                      All Exchanges

Procedures for Exercise:

   Exercise Period(s):                       Notwithstanding anything to the
                                             contrary in the Equity
                                             Definitions, an Exercise Period
                                             shall occur with respect to an
                                             Option hereunder only if such
                                             Option is an Exercisable Option
                                             (as defined below) and the
                                             Exercise Period shall be, in
                                             respect of any Exercisable Option,
                                             the period commencing on, and
                                             including, the relevant Conversion
                                             Date and ending on, and including,
                                             the Scheduled Valid Day
                                             immediately preceding the first
                                             day of the relevant Settlement
                                             Averaging Period in respect of
                                             such Conversion Date; provided
                                             that in respect of Exercisable
                                             Options relating to Convertible
                                             Notes for which the relevant
                                             Conversion Date occurs on or after
                                             March 1, 2014, the final day of
                                             the Exercise Period shall be the
                                             Scheduled Valid Day immediately
                                             preceding the Expiration Date.

   Conversion Date:                          With respect to any conversion of
                                             Convertible Notes, the date on
                                             which the Holder (as such term is
                                             defined in the Indenture) of such
                                             Convertible Notes satisfies all of
                                             the requirements for conversion
                                             thereof as set forth in Section
                                             11.01(b) of the Indenture.

   Exercisable Options:                      In respect of each Exercise Period,
                                             a number of Options equal to 50%
                                             of the number of USD 1,000
                                             principal amount of Convertible
                                             Notes surrendered to Counterparty
                                             for conversion with respect to
                                             such Exercise Period but no
                                             greater than the Number of
                                             Options.

                                       3
<PAGE>

   Expiration Time:                          The Valuation Time

   Expiration Date:                          May 15, 2014, subject to earlier
                                             exercise.

   Multiple Exercise:                        Applicable, as described under
                                             Exercisable Options above.

   Automatic Exercise:                       Applicable; and means that in
                                             respect of an Exercise Period, a
                                             number of Options not previously
                                             exercised hereunder equal to the
                                             number of Exercisable Options
                                             shall be deemed to be exercised on
                                             the final day of such Exercise
                                             Period for such Exercisable
                                             Options; provided that such
                                             Options shall be deemed exercised
                                             only to the extent that
                                             Counterparty has provided a Notice
                                             of Exercise to JPMorgan.

   Notice of Exercise:                       Notwithstanding anything to the
                                             contrary in the Equity
                                             Definitions, in order to exercise
                                             any Exercisable Options,
                                             Counterparty must notify JPMorgan
                                             in writing before 5:00 p.m. (New
                                             York City time) on the Scheduled
                                             Valid Day prior to the scheduled
                                             first day of the Settlement
                                             Averaging Period for the
                                             Exercisable Options being
                                             exercised (the "Notice Deadline")
                                             of (i) the number of such Options
                                             and (ii) the scheduled first day
                                             of the Settlement Averaging Period
                                             and the scheduled Settlement Date;
                                             provided that, notwithstanding the
                                             foregoing, such notice (and the
                                             related exercise of Exercisable
                                             Options) shall be effective if
                                             given after the Notice Deadline
                                             but prior to 5:00 p.m. (New York
                                             City time) on the fifth Scheduled
                                             Valid Day after the Notice
                                             Deadline, in which event the
                                             Calculation Agent shall have the
                                             right to adjust the number of Net
                                             Shares as appropriate to reflect
                                             the additional costs (including,
                                             but not limited to, hedging
                                             mismatches and market losses) and
                                             expenses incurred by JPMorgan in
                                             connection with its hedging
                                             activities (including the
                                             unwinding of any hedge position)
                                             as a result of JPMorgan not having
                                             received such notice prior to the
                                             Notice Deadline; provided further
                                             that in respect of Exercisable
                                             Options relating to Convertible
                                             Notes with a Conversion Date
                                             occurring on or after March 1,
                                             2014, such notice may be given on
                                             or prior to the second Scheduled
                                             Valid Day immediately preceding
                                             the Expiration Date and need only
                                             specify the number of such
                                             Exercisable Options.

   Valuation Time:                           At the close of trading of the
                                             regular trading session on the
                                             Exchange.

   Market Disruption Event:                  Section 6.3(a) of the Equity
                                             Definitions is hereby replaced in
                                             its entirety by the following:

                                       4

<PAGE>
                                             "'Market Disruption Event' means in
                                             respect of a Share, (i) a failure
                                             by the primary United States
                                             national or regional securities
                                             exchange or market on which Shares
                                             are listed or admitted to trading
                                             to open for trading during its
                                             regular trading session or (ii)
                                             the occurrence or existence prior
                                             to 1:00 p.m. (New York City time)
                                             on any Scheduled Valid Day for the
                                             Shares for an aggregate one half
                                             hour period of any suspension or
                                             limitation imposed on trading (by
                                             reason of movements in price
                                             exceeding limits permitted by the
                                             relevant stock exchange or
                                             otherwise) in the Shares or in any
                                             options, contracts or future
                                             contracts relating to the Shares."

Settlement Terms:

   Settlement Method:                        Net Share Settlement
   Net Share Settlement:                     JPMorgan will deliver to
                                             Counterparty, on the relevant
                                             Settlement Date, a number of
                                             Shares equal to the Net Shares in
                                             respect of any Exercisable Option
                                             exercised or deemed exercised
                                             hereunder. In no event will the
                                             Net Shares be less than zero.

   Net Shares:                               In respect of any Exercisable
                                             Option exercised or deemed
                                             exercised, a number of Shares
                                             equal to (i) the Option
                                             Entitlement multiplied by (ii) the
                                             sum of the quotients, for each
                                             Valid Day during the Settlement
                                             Averaging Period for such
                                             Exercisable Option, of (A) the
                                             Relevant Price on such Valid Day
                                             less the Strike Price, divided by
                                             (B) such Relevant Price, divided
                                             by (iii) the number of Valid Days
                                             in the Settlement Averaging
                                             Period; provided, however, that if
                                             the calculation contained in
                                             clause (A) above results in a
                                             negative number, such number shall
                                             be replaced with the number
                                             "zero".

                                             JPMorgan will deliver cash in lieu
                                             of any fractional Shares to be
                                             delivered with respect to any Net
                                             Shares valued at the Relevant
                                             Price for the last Valid Day of
                                             the Settlement Averaging Period.

   Valid Day:                                A day on which (i) trading in the
                                             Shares generally occurs on the
                                             Exchange or, if the Shares are not
                                             then listed on the Exchange, on
                                             the principal other U.S. national
                                             or regional securities exchange on
                                             which the Shares are then listed
                                             or, if the Shares are not then
                                             listed on a U.S. national or
                                             regional securities exchange, on
                                             the principal other market on
                                             which the Shares are then traded
                                             and (ii) there is no Market
                                             Disruption Event.

   Scheduled Valid Day:                      A day on which trading in the
                                             Shares is scheduled to occur on
                                             the principal U.S. national or
                                             regional securities exchange or
                                             market on which the Shares are
                                             listed or admitted for trading.

   Relevant Price:                           On any Valid Day, the per Share
                                             volume-weighted average price as
                                             displayed under the heading
                                             "Bloomberg VWAP" on Bloomberg page
                                             CHE.N (equity) AQR (or any
                                             successor thereto) in respect of
                                             the period from the scheduled
                                             opening time of the Exchange to
                                             the Scheduled Closing Time of the
                                             Exchange on such Valid Day (or if
                                             such volume-weighted average price
                                             is unavailable, the market value
                                             of one Share on such Valid Day, as
                                             determined by the Calculation
                                             Agent using a volume-weighted
                                             method).

                                       5
<PAGE>

   Settlement Averaging Period:              For any Exercisable Option, (x) if
                                             Counterparty has, on or prior to
                                             March 1, 2014, delivered a Notice
                                             of Exercise to JPMorgan with
                                             respect to such Exercisable Option
                                             with a Conversion Date occurring
                                             prior to March 1, 2014, the forty
                                             (40) consecutive Valid Days
                                             commencing on and including the
                                             second Scheduled Valid Day
                                             following such Conversion Date, or
                                             (y) if Counterparty has, on or
                                             following March 1, 2014, delivered
                                             a Notice of Exercise to JPMorgan
                                             with respect to such Exercisable
                                             Option with a Conversion Date
                                             occurring on or following March 1,
                                             2014, the forty (40) consecutive
                                             Valid Days commencing on, and
                                             including, the forty second (42nd)
                                             Scheduled Valid Day immediately
                                             prior to the Expiration Date.

   Settlement Date:                          For any Exercisable Option, the
                                             date Shares will be delivered with
                                             respect to the Convertible Notes
                                             related to such Exercisable
                                             Options, under the terms of the
                                             Indenture.

   Settlement Currency:                      USD

   Failure to Deliver:                       Applicable

   Other Applicable Provisions:              The provisions of Sections 9.1(c),
                                             9.8, 9.9, 9.11, 9.12 and 10.5 of
                                             the Equity Definitions will be
                                             applicable, except that all
                                             references in such provisions to
                                             "Physically-settled" shall be read
                                             as references to "Net Share
                                             Settled". "Net Share Settled" in
                                             relation to any Option means that
                                             Net Share Settlement is applicable
                                             to that Option.

   Representation and Agreement:             Notwithstanding Section 9.11 of the
                                             Equity Definitions, the parties
                                             acknowledge that any Shares
                                             delivered to Counterparty shall
                                             be, upon delivery, subject to
                                             restrictions and limitations
                                             arising from Counterparty's status
                                             as issuer of the Shares under
                                             applicable securities laws.

3. Additional Terms applicable to the Transaction:

   Adjustments applicable to the Transaction:

   Potential Adjustment Events:              Notwithstanding Section 11.2(e) of
                                             the Equity Definitions, a
                                             "Potential Adjustment Event" means
                                             an occurrence of any event or
                                             condition, as set forth in Section
                                             11.02 of the Indenture that would
                                             result in an adjustment to the
                                             Conversion Rate of the Convertible
                                             Notes; provided that in no event
                                             shall there be any adjustment
                                             hereunder as a result of an
                                             adjustment to the Conversion Rate
                                             pursuant to Section 11.02(h),
                                             Section 11.02(i) or Section 11.03
                                             of the Indenture.

                                       6
<PAGE>

   Method of Adjustment:                     Calculation Agent Adjustment, and
                                             means that, notwithstanding
                                             Section 11.2(c) of the Equity
                                             Definitions, upon any adjustment
                                             to the Conversion Rate of the
                                             Convertible Notes pursuant to the
                                             Indenture (other than Section
                                             11.02(h), Section 11.02(i) and
                                             Section 11.03 of the Indenture),
                                             the Calculation Agent will make a
                                             corresponding adjustment to any
                                             one or more of the Strike Price,
                                             Number of Options, the Option
                                             Entitlement and any other variable
                                             relevant to the exercise,
                                             settlement or payment for the
                                             Transaction. The Calculation Agent
                                             shall promptly thereafter notify
                                             JPMorgan and Counterparty of any
                                             such corresponding adjustment.

Extraordinary Events applicable to the Transaction:

   Merger Events:                            Notwithstanding Section 12.1(b) of
                                             the Equity Definitions, a "Merger
                                             Event" means the occurrence of any
                                             event or condition set forth in
                                             clause (2) of the definition of
                                             Fundamental Change in Section 1.01
                                             of the Indenture.

   Tender Offers:                            Applicable; provided that
                                             notwithstanding Section 12.1(d) of
                                             the Equity Definitions, a "Tender
                                             Offer" means the occurrence of any
                                             event or condition set forth in
                                             clause (1) of the definition of
                                             Fundamental Change in Section 1.01
                                             of the Indenture.

   Consequence of Merger Events/
   Tender Offers:                            Notwithstanding Section 12.2 and
                                             Section 12.3 of the Equity
                                             Definitions, upon the occurrence
                                             of a Merger Event or a Tender
                                             Offer, the Calculation Agent shall
                                             make a corresponding adjustment in
                                             respect of any adjustment under
                                             the Indenture to any one or more
                                             of the nature of the Shares,
                                             Strike Price, Number of Options,
                                             the Option Entitlement and any
                                             other variable relevant to the
                                             exercise, settlement or payment
                                             for the Transaction; provided,
                                             however, that such adjustment
                                             shall be made without regard to
                                             any adjustment to the Conversion
                                             Rate for the issuance of
                                             additional shares as set forth in
                                             Section 11.03 of the Indenture;
                                             provided further that if, with
                                             respect to a Merger Event or a
                                             Tender Offer, the consideration
                                             for the Shares includes (or, at
                                             the option of a holder of Shares,
                                             may include) shares of an entity
                                             or person not organized under the
                                             laws of the United States, any
                                             State thereof or the District of
                                             Columbia," Cancellation and
                                             Payment shall apply.

                                       7
<PAGE>

   Nationalization, Insolvency or Delisting: Cancellation and Payment
                                             (Calculation Agent Determination);
                                             provided that, in addition to the
                                             provisions of Section 12.6(a)(iii)
                                             of the Equity Definitions, it will
                                             also constitute a Delisting if the
                                             Exchange is located in the United
                                             States and the Shares are not
                                             immediately re-listed, re-traded
                                             or re-quoted on any of the New
                                             York Stock Exchange, the American
                                             Stock Exchange, The NASDAQ Global
                                             Select Market or The NASDAQ Global
                                             Market (or their respective
                                             successors); if the Shares are
                                             immediately re-listed, re-traded
                                             or re-quoted on any of the New
                                             York Stock Exchange, the American
                                             Stock Exchange, The NASDAQ Global
                                             Select Market or The NASDAQ Global
                                             Market (or their respective
                                             successors), such exchange or
                                             quotation system shall thereafter
                                             be deemed to be the Exchange.

   Additional Disruption Events:

    Change in Law:                           Applicable

    Insolvency Filing:                       Applicable

    Failure to Deliver:                      Applicable

    Hedging Party:                           For all applicable Additional
                                             Disruption Events, JPMorgan

    Determining Party:                       For all applicable Additional
                                             Disruption Events, JPMorgan

Non-Reliance:                                Applicable

Agreements and Acknowledgements
Regarding Hedging Activities:                Applicable

Additional Acknowledgments:                  Applicable

4. Calculation Agent:                        JPMorgan. The Calculation Agent
                                             shall, upon request by the
                                             Counterparty, provide a written
                                             explanation of any calculation
                                             made by it including, where
                                             applicable, a description of the
                                             methodology and data applied.

5. Account Details:

         (a) Account for payments to Counterparty:

                    JP Morgan Chase Bank
                    ABA# 021000021
                    Acct: Chemed Corporation
                    Acct No.: 94-13065

                  Account for delivery of Shares to Counterparty:

                    To be provided by Counterparty

                                       8
<PAGE>

         (b) Account for payments to JPMorgan:

                    JPMorgan Chase Bank, National Association, New York
                    ABA:  021 000 021
                    Favour: JPMorgan Chase Bank, National Association - London
                    A/C:  0010962009 CHASUS33

             Account for delivery of Shares from JPMorgan:

                    DTC 0060

6. Offices:

The Office of Counterparty for the Transaction is: Inapplicable, Counterparty is
not a Multibranch Party.

The Office of JPMorgan for the Transaction is: London

                    JPMorgan Chase Bank, National Association
                    London Branch
                    P.O. Box 161
                    60 Victoria Embankment
                    London EC4Y 0JP
                    England

7. Notices: For purposes of this Confirmation:

         (a)        Address for notices or communications to Counterparty:
                    Chemed Corporation
                    2600 Chemed Center
                    255 East Fifth Street
                    Cincinnati, OH 45202
                    Attention: Chief Financial Officer
                    Telephone No.:    (513) 762-6901
                    Facsimile No.:    (513) 287-6713

         (b)        Address for notices or communications to JPMorgan:
                    JPMorgan Chase Bank, National Association
                    277 Park Avenue, 11th Floor
                    New York, NY  10172
                    Attention:  Eric Stefanik
                    Title:  Operations Analyst
                    EDG Corporate Marketing
                    Telephone No:  (212) 622-5814
                    Facsimile No:  (212) 622-8534

                                       9

<PAGE>

8.  Representations and Warranties

(i) Representations and Warranties of Counterparty

The representations and warranties of Counterparty set forth in Section 3 of the
Purchase Agreement are true and correct and are hereby deemed to be repeated to
JPMorgan as if set forth herein. Counterparty hereby further represents and
warrants to JPMorgan that:

          (a)  Counterparty has all necessary corporate power and authority to
               execute, deliver and perform its obligations in respect of this
               Transaction; such execution, delivery and performance have been
               duly authorized by all necessary corporate action on
               Counterparty's part; and this Confirmation has been duly and
               validly executed and delivered by Counterparty and constitutes
               its valid and binding obligation, enforceable against
               Counterparty in accordance with its terms, subject to applicable
               bankruptcy, insolvency, fraudulent conveyance, reorganization,
               moratorium and similar laws affecting creditors' rights and
               remedies generally, and to general principles of equity,
               including principles of commercial reasonableness, good faith and
               fair dealing (regardless of whether enforcement is sought in a
               proceeding at law or in equity) and except that rights to
               indemnification and contribution hereunder may be limited by
               federal or state securities laws or public policy relating
               thereto.

          (b)  Neither the execution and delivery of this Confirmation nor the
               incurrence or performance of obligations of Counterparty
               hereunder will (i) conflict with or result in a breach of the
               certificate of incorporation or by-laws (or any equivalent
               documents) of Counterparty, or any applicable law or regulation,
               or any order, writ, injunction or decree of any court or
               governmental authority or agency, or any agreement or instrument
               to which Counterparty or any of its subsidiaries is a party or by
               which Counterparty or any of its subsidiaries is bound or to
               which Counterparty or any of its subsidiaries is subject
               (including, but not limited to, any agreements and contracts of
               Counterparty or any of its subsidiaries filed as exhibits to
               Counterparty's Annual Report on Form 10-K for the year ended
               December 31, 2006, incorporated by reference in the Offering
               Memorandum), or (ii) constitute a default under, or result in the
               creation of any lien under, any such agreement or instrument.

          (c)  No consent, approval, authorization, or order of, or filing with,
               any governmental agency or body or any court is required in
               connection with the execution, delivery or performance by
               Counterparty of this Confirmation, except such as have been
               obtained or made and such as may be required under the Securities
               Act of 1933, as amended (the "Securities Act") or state
               securities laws.

          (d)  It is an "eligible contract participant" (as such term is defined
               in Section 1a(12) of the Commodity Exchange Act, as amended (the
               "CEA")) because one or more of the following is true:

               Counterparty is a corporation, partnership, proprietorship,
               organization, trust or other entity and:

               (A)  Counterparty has total assets in excess of USD 10,000,000;

               (B)  the obligations of Counterparty hereunder are guaranteed, or
                    otherwise supported by a letter of credit or keepwell,
                    support or other agreement, by an entity of the type
                    described in Section 1a(12)(A)(i) through (iv),
                    1a(12)(A)(v)(I), 1a(12)(A)(vii) or 1a(12)(C) of the CEA; or

                                       10

<PAGE>

               (C)  Counterparty has a net worth in excess of USD 1,000,000 and
                    has entered into this Agreement in connection with the
                    conduct of Counterparty's business or to manage the risk
                    associated with an asset or liability owned or incurred or
                    reasonably likely to be owned or incurred by Counterparty in
                    the conduct of Counterparty's business.

          (e)  Each of it and its controlled affiliates is not, on the date
               hereof, in possession of any material non-public information with
               respect to Counterparty.

(ii) Additional representations and warranties

          (a) JPMorgan represents that it is an "eligible contract participant"
as defined in Section 1a(12) of the CEA.

          (b) Each of JPMorgan and Counterparty acknowledges that the offer and
           sale of the Transaction to it is intended to be exempt from
           registration under the Securities Act, by virtue of Section 4(2)
           thereof.

9. Other Provisions:

          (a)  Opinions. Counterparty shall deliver to JPMorgan an opinion of
               counsel, dated as of the Trade Date, with respect to the matters
               set forth in Sections 8(i)(a) through (c) of this Confirmation.

          (b)  Reserved

          (c)  Repurchase Notices. Counterparty shall, on any day on which
               Counterparty effects any repurchase of Shares, promptly give
               JPMorgan a written notice of such repurchase (a "Repurchase
               Notice") on such day if following such repurchase, the number of
               outstanding Shares as determined on such day is (i) less than 21
               million (in the case of the first such notice) or (ii) thereafter
               more than 1.6 million less than the number of Shares included in
               the immediately preceding Repurchase Notice. Counterparty agrees
               to indemnify and hold harmless JPMorgan and its affiliates and
               their respective officers, directors, employees, affiliates,
               advisors, agents and controlling persons (each, an "Indemnified
               Person") from and against any and all losses (including losses
               relating to JPMorgan's hedging activities as a consequence of
               becoming, or of the risk of becoming, a Section 16 "insider",
               including without limitation, any forbearance from hedging
               activities or cessation of hedging activities and any losses in
               connection therewith with respect to this Transaction), claims,
               damages, judgments, liabilities and expenses (including
               reasonable attorney's fees), joint or several, which an
               Indemnified Person may become subject to, as a result of
               Counterparty's failure to provide JPMorgan with a Repurchase
               Notice on the day and in the manner specified in this paragraph,
               and to reimburse, within 30 days, upon written request, each of
               such Indemnified Persons for any reasonable legal or other
               expenses incurred in connection with investigating, preparing
               for, providing testimony or other evidence in connection with or
               defending any of the foregoing. If any suit, action, proceeding
               (including any governmental or regulatory investigation), claim
               or demand shall be brought or asserted against the Indemnified
               Person as a result of Counterparty's failure to provide JPMorgan
               with a Repurchase Notice in accordance with this paragraph, such
               Indemnified Person shall promptly notify Counterparty in writing,
               and Counterparty, upon request of the Indemnified Person, shall
               retain counsel reasonably satisfactory to the Indemnified Person
               to represent the Indemnified Person and any others Counterparty
               may designate in such proceeding and shall pay the fees and
               expenses of such counsel related to such proceeding. Counterparty
               shall not be liable for any settlement of any proceeding
               contemplated by this paragraph that is effected without its
               written consent, but if settled with such consent or if there be

                                       11

<PAGE>

               a final judgment for the plaintiff, Counterparty agrees to
               indemnify any Indemnified Person from and against any loss or
               liability by reason of such settlement or judgment. Counterparty
               shall not, without the prior written consent of the Indemnified
               Person, effect any settlement of any pending or threatened
               proceeding contemplated by this paragraph that is in respect of
               which any Indemnified Person is or could have been a party and
               indemnity could have been sought hereunder by such Indemnified
               Person, unless such settlement (x) includes an unconditional
               release of such Indemnified Person, in form and substance
               reasonably satisfactory to such Indemnified Person, from all
               liability on claims that are the subject matter of such
               proceeding and (y) does not include any statement as to or any
               admission of fault, culpability or a failure to act by or on
               behalf of any Indemnified Person. If the indemnification provided
               for in this paragraph is unavailable to an Indemnified Person or
               insufficient in respect of any losses, claims, damages or
               liabilities referred to therein, then Counterparty hereunder, in
               lieu of indemnifying such Indemnified Person thereunder, shall
               contribute to the amount paid or payable by such Indemnified
               Person as a result of such losses, claims, damages or
               liabilities. The remedies provided for in this paragraph (c) are
               not exclusive and shall not limit any rights or remedies which
               may otherwise be available to any Indemnified Party at law or in
               equity. The indemnity and contribution agreements contained in
               this paragraph shall remain operative and in full force and
               effect regardless of the termination of this Transaction.

          (d)  Regulation M. Counterparty is not on the date hereof engaged in a
               distribution, as such term is used in Regulation M under the
               Securities Exchange Act of 1934, as amended (the "Exchange Act"),
               of any securities of Counterparty, other than (i) a distribution
               meeting the requirements of the exception set forth in Rules
               101(b)(10) and 102(b)(7) of Regulation M and (ii) the
               distribution of the Convertible Notes. Counterparty shall not,
               until the second Scheduled Trading Day immediately following the
               Trade Date, engage in any such distribution.

          (e)  No Manipulation. Counterparty is not entering into this
               Transaction to create actual or apparent trading activity in the
               Shares (or any security convertible into or exchangeable for the
               Shares) or to raise or depress or otherwise manipulate the price
               of the Shares (or any security convertible into or exchangeable
               for the Shares) or otherwise in violation of the Exchange Act.

          (f)  Early Unwind. In the event the sale of Convertible Notes (or, in
               respect of the Greenshoe Exercise, the Additional Convertible
               Notes) is not consummated with the Initial Purchasers for any
               reason by the close of business in New York on May 14, 2007 (or,
               in respect of the Greenshoe Exercise, the third Clearance System
               Business Day following the date of the Greenshoe Exercise (the
               "Additional Closing Date")) (or such later date as agreed upon by
               the parties) (May 14, 2007 or such later date as agreed upon
               being or, in respect of the Greenshoe Exercise, the Additional
               Closing Date, the "Early Unwind Date"), this Transaction (or, in
               respect of the Greenshoe Exercise, the Additional Options) shall
               automatically terminate (the "Early Unwind"), on the Early Unwind
               Date and (i) the Transaction (or, in respect of the Greenshoe
               Exercise, the Additional Options) and all of the respective
               rights and obligations of JPMorgan and Counterparty under the
               Transaction (or, in respect of the Greenshoe Exercise, the
               Additional Options) shall be cancelled and terminated and (ii)
               each party shall be released and discharged by the other party
               from and agrees not to make any claim against the other party
               with respect to any obligations or liabilities of the other party
               arising out of and to be performed in connection with the
               Transaction (or, in respect of the Greenshoe Exercise, the
               Additional Options) either prior to or after the Early Unwind
               Date; provided that, unless the sale of the Convertible Notes or
               the Additional Convertible Notes, as applicable, is not
               consummated due to a breach of the Purchase Agreement by the
               Initial Purchasers, Counterparty shall purchase from JPMorgan on
               the Early Unwind Date all Shares purchased by JPMorgan or one or

                                       12

<PAGE>

               more of its affiliates and reimburse JPMorgan for any
               commercially reasonable costs or expenses (including market
               losses) relating to the unwinding of its hedging activities in
               connection with the Transaction (or, in respect of the Greenshoe
               Exercise, the Additional Options) (including any loss or cost
               incurred as a result of its terminating, liquidating, obtaining
               or reestablishing any hedge or related trading position). The
               amount of any such reimbursement shall be determined by JPMorgan
               in its sole good faith discretion. JPMorgan shall notify
               Counterparty of such amount and Counterparty shall pay such
               amount in immediately available funds on the Early Unwind Date.
               JPMorgan and Counterparty represent and acknowledge to the other
               that, subject to the proviso included in this paragraph, upon an
               Early Unwind, all obligations with respect to the Transaction
               shall be deemed fully and finally discharged.

          (g)  Transfer or Assignment. Counterparty may not transfer any of its
               rights or obligations under this Transaction without the prior
               written consent of JPMorgan. JPMorgan may not, without
               Counterparty's consent, transfer or assign all or any part of its
               rights or obligations under the Transaction; provided that if (i)
               JPMorgan's "beneficial ownership" (within the meaning of Section
               13 of the Exchange Act and rules promulgated thereunder) exceeds
               7.5% of Counterparty's outstanding Shares or (ii) the quotient of
               (x) the product of (a) the Number of Options and (b) the Option
               Entitlement divided by (y) the number of Counterparty's
               outstanding Shares (such quotient expressed as a percentage, the
               "Option Equity Percentage") exceeds 14.5%, JPMorgan may assign or
               transfer a portion of the Transaction without Counterparty's
               consent to any third party with a rating for its long term,
               unsecured and unsubordinated indebtedness equal to or better than
               the lesser of (i) the credit rating of JPMorgan at the time of
               the transfer and (ii) A- by Standard and Poor's Rating Group,
               Inc. or its successor ("S&P"), or A3 by Moody's Investor Service,
               Inc. ("Moody's") or, if either S&P or Moody's ceases to rate such
               debt, at least an equivalent rating or better by a substitute
               agency rating mutually agreed by Counterparty and JPMorgan to
               reduce (i) JPMorgan's "beneficial ownership" (within the meaning
               of Section 13 of the Exchange Act and rules promulgated
               thereunder) to 7.5% of Counterparty's outstanding Shares or less
               or (ii) the Option Equity Percentage to 14.5% or less. If after
               JPMorgan's commercially reasonable efforts, JPMorgan is unable to
               effect a transfer or assignment permitted by the proviso to the
               immediately preceding sentence on pricing terms reasonably
               acceptable to JPMorgan and within a time period reasonably
               acceptable to JPMorgan of a sufficient number of Options JPMorgan
               may designate any Exchange Business Day as an Early Termination
               Date with respect to a portion (the "Terminated Portion") of this
               Transaction, such that (i) its "beneficial ownership" following
               such partial termination will be equal to or less than 7.5% or
               (ii) the Option Equity Percentage following such partial
               termination will be equal to or less than 14.5%. In the event
               that JPMorgan so designates an Early Termination Date with
               respect to a portion of this Transaction, a payment shall be made
               pursuant to Section 6 of the Agreement as if (i) an Early
               Termination Date had been designated in respect of a Transaction
               having terms identical to this Transaction and a Number of
               Options equal to the Terminated Portion, (ii) Counterparty shall
               be the sole Affected Party with respect to such partial
               termination and (iii) such Transaction shall be the only
               Terminated Transaction (and, for the avoidance of doubt, the
               provisions of Section 9(n) shall apply to any amount that is
               payable by JPMorgan to Counterparty pursuant to this sentence as
               if Counterparty was not the Affected Party). Notwithstanding any
               other provision in this Confirmation to the contrary requiring or
               allowing JPMorgan to purchase, sell, receive or deliver any
               shares or other securities to or from Counterparty, JPMorgan may
               designate any of its affiliates to purchase, sell, receive or
               deliver such shares or other securities and otherwise to perform
               JPMorgan's obligations in respect of this Transaction and any
               such designee may assume such obligations. JPMorgan shall be
               discharged of its obligations to Counterparty to the extent of
               any such performance.

                                       13

<PAGE>

          (h)  Staggered Settlement. If upon advice of counsel with respect to
               applicable legal and regulatory requirements, including any
               requirements relating to JPMorgan's hedging activities hereunder,
               JPMorgan reasonably determines that it would not be practicable
               or advisable to deliver, or to acquire Shares to deliver, any or
               all of the Shares to be delivered by JPMorgan on the Settlement
               Date for the Transaction, JPMorgan may, by notice to Counterparty
               on or prior to any Settlement Date (a "Nominal Settlement Date"),
               elect to deliver the Shares on two or more dates (each, a
               "Staggered Settlement Date") as follows:

               (a)  in such notice, JPMorgan will specify to Counterparty the
                    related Staggered Settlement Dates (the first of which will
                    be such Nominal Settlement Date and the last of which will
                    be no later than the twentieth (20th) Exchange Business Day
                    following such Nominal Settlement Date) and the number of
                    Shares that it will deliver on each Staggered Settlement
                    Date;

               (b)  the aggregate number of Shares that JPMorgan will deliver to
                    Counterparty hereunder on all such Staggered Settlement
                    Dates will equal the number of Shares that JPMorgan would
                    otherwise be required to deliver on such Nominal Settlement
                    Date; and

               (c)  if the Net Share Settlement terms set forth above were to
                    apply on the Nominal Settlement Date, then the Net Share
                    Settlement terms will apply on each Staggered Settlement
                    Date, except that the Net Shares will be allocated among
                    such Staggered Settlement Dates as specified by JPMorgan in
                    the notice referred to in clause (a) above.

          (i)  Role of Agent. Each party agrees and acknowledges that (i) J.P.
               Morgan Securities Inc., an affiliate of JPMorgan ("JPMSI"), has
               acted solely as agent and not as principal with respect to this
               Transaction and (ii) JPMSI has no obligation or liability, by way
               of guaranty, endorsement or otherwise, in any manner in respect
               of this Transaction (including, if applicable, in respect of the
               settlement thereof). Each party agrees it will look solely to the
               other party (or any guarantor in respect thereof) for performance
               of such other party's obligations under this Transaction.

          (j)  Reserved

          (k)  Additional Termination Events. Notwithstanding anything to the
               contrary in this Confirmation if an event of default with respect
               to Counterparty shall occur under the terms of the Convertible
               Notes as set forth in Section 5.01 of the Indenture and such
               event of default results in the declaration of any principal and
               interest immediately due and payable pursuant to Section 5.02 of
               the Indenture, then such event of default shall constitute an
               Additional Termination Event applicable to the Transaction and,
               with respect to such event of default (A) Counterparty shall be
               deemed to be the sole Affected Party and the Transaction shall be
               the sole Affected Transaction and (B) JPMorgan shall be the party
               entitled to designate an Early Termination Date pursuant to
               Section 6(b) of the Agreement.

          (l)  Amendments to Equity Definitions. (i) Section 12.6(a)(ii) of the
               Equity Definitions is hereby amended by (1) deleting from the
               fourth line thereof the word "or" after the word "official" and
               inserting a comma therefor, and (2) deleting the semi-colon at
               the end of subsection (B) thereof and inserting the following
               words therefor "or (C) at JPMorgan's option, the occurrence of
               any of the events specified in Section 5(a)(vii) (1) through (9)
               of the ISDA Master Agreement with respect to that Issuer."

                                       14

<PAGE>

               (ii) Section 12.9(b)(i) of the Equity Definitions is hereby
                    amended by (1) replacing "either party may elect" with
                    "JPMorgan may elect" and (2) replacing "notice to the other
                    party" with "notice to Counterparty" in the first sentence
                    of such section.

          (m)  Setoff. In addition to and without limiting any rights of set-off
               that a party hereto may have as a matter of law, pursuant to
               contract or otherwise, upon the occurrence of an Early
               Termination Date, JPMorgan (and only JPMorgan) shall have the
               right to set off any obligation that it may have to Counterparty
               under this Confirmation, including without limitation any
               obligation to make any payment of cash or delivery of Shares to
               Counterparty, against any obligation Counterparty may have to
               JPMorgan under any other agreement between JPMorgan and
               Counterparty relating to Shares (each such contract or agreement,
               a "Separate Agreement"), including without limitation any
               obligation to make a payment of cash or a delivery of Shares or
               any other property or securities. For this purpose, JPMorgan
               shall be entitled to convert any obligation (or the relevant
               portion of such obligation) denominated in one currency into
               another currency at the rate of exchange at which it would be
               able to purchase the relevant amount of such currency, and to
               convert any obligation to deliver any non-cash property into an
               obligation to deliver cash in an amount calculated by reference
               to the market value of such property as of the Early Termination
               Date, as determined by the Calculation Agent in its sole
               discretion; provided that in the case of a set-off of any
               obligation to release or deliver assets against any right to
               receive fungible assets, such obligation and right shall be set
               off in kind and; provided further that in determining the value
               of any obligation to deliver Shares, the value at any time of
               such obligation shall be determined by reference to the market
               value of the Shares at such time, as determined in good faith by
               the Calculation Agent. If an obligation is unascertained at the
               time of any such set-off, the Calculation Agent may in good faith
               estimate the amount or value of such obligation, in which case
               set-off will be effected in respect of that estimate, and the
               relevant party shall account to the other party at the time such
               obligation or right is ascertained.

          (n)  Alternative Calculations and Payment on Early Termination and on
               Certain Extraordinary Events. If in respect of this Transaction,
               an amount is payable by JPMorgan to Counterparty (i) pursuant to
               Section 12.7 or Section 12.9 of the Equity Definitions or (ii)
               pursuant to Section 6(d)(ii) of the Agreement (a "Payment
               Obligation"), Counterparty may request JPMorgan to satisfy any
               such Payment Obligation by the Share Termination Alternative (as
               defined below) (except that Counterparty shall not make such an
               election in the event of a Nationalization, Insolvency, a Merger
               Event or Tender Offer, in each case, in which the consideration
               to be paid to holders of Shares consists solely of cash, or an
               Event of Default in which Counterparty is the Defaulting Party or
               a Termination Event in which Counterparty is the Affected Party,
               other than an Event of Default of the type described in Section
               5(a)(iii), (v), (vi), (vii) or (viii) of the Agreement or a
               Termination Event of the type described in Section 5(b) of the
               Agreement in each case that resulted from an event or events
               outside Counterparty's control) and shall give irrevocable
               telephonic notice to JPMorgan, confirmed in writing within one
               Currency Business Day, no later than 12:00 p.m. New York local
               time on the Merger Date, the Announcement Date (in the case of
               Nationalization, Insolvency or Delisting), the Early Termination
               Date or date of cancellation, as applicable; provided that if
               Counterparty does not validly request JPMorgan to satisfy its
               Payment Obligation by the Share Termination Alternative, JPMorgan
               shall have the right, in its sole discretion, to satisfy its
               Payment Obligation by the Share Termination Alternative,
               notwithstanding Counterparty's election to the contrary. In
               calculating any amounts under Section 6(e) of the Agreement,
               notwithstanding anything to the contrary in the Agreement, (1)
               separate amounts shall be calculated as set forth in Section 6(e)
               with respect to (i) this Transaction and (ii) all other
               Transactions, and (2) such separate amounts shall be payable
               pursuant to Section 6(d)(ii) of the Agreement. For the avoidance
               of doubt, the parties agree that in calculating the Payment
               Obligation the Determining Party may consider the purchase price
               paid in connection with the purchase of Share Termination
               Delivery Property.

                                       15
<PAGE>

   Share Termination Alternative:            If Applicable, JPMorgan shall
                                             deliver to Counterparty the Share
                                             Termination Delivery Property on,
                                             or within a commercially
                                             reasonable period of time after,
                                             the date when the Payment
                                             Obligation would otherwise be due
                                             pursuant to Section 12.7 or 12.9
                                             of the Equity Definitions or
                                             Section 6(d)(ii) and 6(e) of the
                                             Agreement, as applicable (the
                                             "Share Termination Payment Date"),
                                             in satisfaction of the Payment
                                             Obligation in the manner
                                             reasonably requested by
                                             Counterparty free of payment.

   Share Termination Delivery Property:      A number of Share Termination
                                             Delivery Units, as calculated by
                                             the Calculation Agent, equal to
                                             the Payment Obligation divided by
                                             the Share Termination Unit Price.
                                             The Calculation Agent shall adjust
                                             the Share Termination Delivery
                                             Property by replacing any
                                             fractional portion of a security
                                             therein with an amount of cash
                                             equal to the value of such
                                             fractional security based on the
                                             values used to calculate the Share
                                             Termination Unit Price.

   Share Termination Unit Price:             The value to JPMorgan of property
                                             contained in one Share Termination
                                             Delivery Unit, as determined by
                                             the Calculation Agent in its
                                             discretion by commercially
                                             reasonable means and notified by
                                             the Calculation Agent to JPMorgan
                                             at the time of notification of the
                                             Payment Obligation.

   Share Termination Delivery Unit:          One Share or, if a Merger Event has
                                             occurred and a corresponding
                                             adjustment to this Transaction has
                                             been made, a unit consisting of
                                             the number or amount of each type
                                             of property received by a holder
                                             of one Share (without
                                             consideration of any requirement
                                             to pay cash or other consideration
                                             in lieu of fractional amounts of
                                             any securities) in such Merger
                                             Event, as determined by the
                                             Calculation Agent.

   Failure to Deliver:                       Applicable

   Other applicable provisions:              If Share Termination Alternative is
                                             applicable, the provisions of
                                             Sections 9.8, 9.9, 9.11, 9.12 and
                                             10.5 (as modified above) of the
                                             Equity Definitions will be
                                             applicable, except that all
                                             references in such provisions to
                                             "Physically-settled" shall be read
                                             as references to "Share
                                             Termination Settled" and all
                                             references to "Shares" shall be
                                             read as references to "Share
                                             Termination Delivery Units".
                                             "Share Termination Settled" in
                                             relation to this Transaction means
                                             that Share Termination Alternative
                                             is applicable to this Transaction.

                                       16
<PAGE>

          (o)  Governing Law. New York law (without reference to choice of law
               doctrine).

          (p)  Waiver of Jury Trial. Each party waives, to the fullest extent
               permitted by applicable law, any right it may have to a trial by
               jury in respect of any suit, action or proceeding relating to
               this Transaction. Each party (i) certifies that no
               representative, agent or attorney of either party has
               represented, expressly or otherwise, that such other party would
               not, in the event of such a suit, action or proceeding, seek to
               enforce the foregoing waiver and (ii) acknowledges that it and
               the other party have been induced to enter into this Transaction,
               as applicable, by, among other things, the mutual waivers and
               certifications provided herein.

          (q)  Registration. Counterparty hereby agrees that if, in the good
               faith reasonable judgment of JPMorgan, the Shares ("Hedge
               Shares") acquired by JPMorgan for the purpose of hedging its
               obligations pursuant to this Transaction cannot be sold in the
               public market by JPMorgan without registration under the
               Securities Act, Counterparty shall, at its election, either (i)
               in order to allow JPMorgan to sell the Hedge Shares in a
               registered offering, make available to JPMorgan an effective
               registration statement under the Securities Act and enter into an
               agreement, in form and substance satisfactory to JPMorgan,
               substantially in the form of an underwriting agreement for a
               registered secondary offering; provided, however, that if
               JPMorgan, in its reasonable discretion, is not satisfied with
               access to due diligence materials, the results of its due
               diligence investigation, or the procedures and documentation for
               the registered offering referred to above, then clause (ii) or
               clause (iii) of this paragraph shall apply at the election of
               Counterparty, (ii) in order to allow JPMorgan to sell the Hedge
               Shares in a private placement, enter into a private placement
               agreement substantially similar to private placement purchase
               agreements customary for private placements of equity securities,
               in form and substance satisfactory to JPMorgan (in which case,
               the Calculation Agent shall make any adjustments to the terms of
               this Transaction that are necessary, in its reasonable judgment,
               to compensate JPMorgan for any discount from the public market
               price of the Shares incurred on the sale of Hedge Shares in a
               private placement), or (iii) purchase the Hedge Shares from
               JPMorgan at the Relevant Price on such Exchange Business Days,
               and in the amounts, requested by JPMorgan.

          (r)  Tax Disclosure. Effective from the date of commencement of
               discussions concerning the Transaction, Counterparty and each of
               its employees, representatives, or other agents may disclose to
               any and all persons, without limitation of any kind, the tax
               treatment and tax structure of the Transaction and all materials
               of any kind (including opinions or other tax analyses) that are
               provided to Counterparty relating to such tax treatment and tax
               structure.

          (s)  Right to Extend. JPMorgan may delay any Settlement Date or any
               other date of delivery by JPMorgan, with respect to some or all
               of the Options hereunder, if JPMorgan reasonably determines, in
               its discretion, that such extension is reasonably necessary to
               enable JPMorgan to effect purchases of Shares in connection with
               its hedging activity or settlement activity hereunder in a manner
               that would, if JPMorgan were Counterparty or an affiliated
               purchaser of Counterparty, be in compliance with applicable legal
               and regulatory requirements.

                                       17
<PAGE>

          (t)  Status of Claims in Bankruptcy. JPMorgan acknowledges and agrees
               that this Confirmation is not intended to convey to JPMorgan
               rights against Counterparty with respect to the Transaction that
               are senior to the claims of common stockholders of Counterparty
               in any U.S. bankruptcy proceedings of Counterparty; provided that
               nothing herein shall limit or shall be deemed to limit JPMorgan's
               right to pursue remedies in the event of a breach by Counterparty
               of its obligations and agreements with respect to the
               Transaction; provided, further, that nothing herein shall limit
               or shall be deemed to limit JPMorgan's rights in respect of any
               transactions other than the Transaction.

          (u)  Securities Contract; Swap Agreement. The parties hereto intend
               for: (a) the Transaction to be a "securities contract" and a
               "swap agreement" as defined in the Bankruptcy Code (Title 11 of
               the United States Code) (the "Bankruptcy Code"), and the parties
               hereto to be entitled to the protections afforded by, among other
               Sections, Sections 362(b)(6), 362(b)(17), 546(e), 546(g), 555 and
               560 of the Bankruptcy Code; (b) a party's right to liquidate the
               Transaction and to exercise any other remedies upon the
               occurrence of any Event of Default under the Agreement with
               respect to the other party to constitute a "contractual right" as
               described in the Bankruptcy Code; and (c) each payment and
               delivery of cash, securities or other property hereunder to
               constitute a "margin payment" or "settlement payment" and a
               "transfer" as defined in the Bankruptcy Code.

          (v)  Additional Provisions. Counterparty covenants and agrees that, as
               promptly as practicable following the public announcement of any
               consolidation, merger and binding share exchange to which
               Counterparty is a party, or any sale of all or substantially all
               of Counterparty's assets, in each case pursuant to which the
               Shares will be converted into cash, securities or other property,
               Counterparty shall notify JPMorgan in writing of the types and
               amounts of consideration that holders of Shares have elected to
               receive upon consummation of such transaction or event (the date
               of such notification, the "Consideration Notification Date");
               provided that in no event shall the Consideration Notification
               Date be later than the date on which such transaction or event is
               consummated.

                            [signature page follows]

                                       18

<PAGE>

         Please confirm that the foregoing correctly sets forth the terms of our
agreement by executing this Confirmation and returning it to EDG Confirmation
Group, J.P. Morgan Securities Inc., 277 Park Avenue, 11th Floor, New York, NY
10172-3401, or by fax to (212) 622 8519.

                                       Very truly yours,

                                       J.P. Morgan Securities Inc., as agent for
                                       JPMorgan Chase Bank, National
                                       Association

                                       By: /s/ Sudheer Tegulapalle
                                       ----------------------------------------
                                       Authorized Signatory
                                       Name: Sudheer Tegulapalle

         Accepted and confirmed
         as of the Trade Date:

         Chemed Corporation

         By: David P. Williams
         ---------------------------------------
         Authorized Signatory
         Name: David P. WilliamsMay 8, 2007

From: Citibank, N.A.
390 Greenwich Street
New York, NY 10013
Equity Derivatives
Telephone: (212) 723-7357
Facsimile: (212) 723-8328

To: Chemed Corporation
2600 Chemed Center
255 East Fifth Street
Cincinnati, OH 45202
Attention: Chief Financial Officer
Telephone No.:    (513) 762-6901
Facsimile No.:    (513) 287-6713

Re: Call Option Transaction

         The purpose of this letter agreement (this "Confirmation") is to
confirm the terms and conditions of the call option transaction entered into
between Citibank, N.A. ("Citibank") and Chemed Corporation ("Counterparty") on
the Trade Date specified below (the "Transaction"). This letter agreement
constitutes a "Confirmation" as referred to in the ISDA Master Agreement
specified below. This Confirmation shall replace any previous agreements and
serve as the final documentation for this Transaction.

         The definitions and provisions contained in the 2002 ISDA Equity
Derivatives Definitions (the "Equity Definitions"), as published by the
International Swaps and Derivatives Association, Inc. ("ISDA") are incorporated
into this Confirmation. In the event of any inconsistency between the Equity
Definitions and this Confirmation, this Confirmation shall govern. This
Transaction shall constitute a Share Option Transaction within the meaning set
forth in the Equity Definitions. Certain defined terms used herein have the
meanings assigned to them in the Offering Memorandum dated May 8, 2007 (the
"Offering Memorandum") relating to the USD 180,000,000 principal amount of
1.875% Convertible Senior Notes due 2014, (the "Convertible Notes" and each USD
1,000 principal amount of Convertible Notes, a "Convertible Note") issued by
Counterparty pursuant to an Indenture to be dated May 14, 2007 between
Counterparty and LaSalle Bank, N.A., as trustee (the "Indenture"). In the event
of any inconsistency between the terms defined in the Offering Memorandum, the
Indenture and this Confirmation, this Confirmation shall govern. The parties
acknowledge that this Confirmation is entered into on the date hereof with the
understanding that (i) definitions set forth in the Indenture which are also
defined herein by reference to the Indenture and (ii) sections of the Indenture
that are referred to herein will conform to the descriptions thereof in the
Offering Memorandum. If any such definitions in the Indenture or any such
sections of the Indenture differ from the descriptions thereof in the Offering
Memorandum, the descriptions thereof in the Offering Memorandum will govern for
purposes of this Confirmation. The parties further acknowledge that the
Indenture section numbers used herein are based on the draft of the Indenture
last reviewed by Citibank as of the date of this Confirmation, and if any such
section numbers are changed in the Indenture as executed, the parties will amend
this Confirmation in good faith to preserve the intent of the parties. For the
avoidance of doubt, references to the Indenture herein are references to the
Indenture as in effect on the date of its execution and if the Indenture is
amended following its execution, any such amendment will be disregarded for
purposes of this Confirmation unless the parties agree otherwise in writing.

         Each party is hereby advised, and each such party acknowledges, that
the other party has engaged in, or refrained from engaging in, substantial
financial transactions and has taken other material actions in reliance upon the
parties' entry into the Transaction to which this Confirmation relates on the
terms and conditions set forth below.

<PAGE>

1. This Confirmation evidences a complete and binding agreement between Citibank
and Counterparty as to the terms of the Transaction to which this Confirmation
relates. This Confirmation shall supplement, form a part of, and be subject to
an agreement in the form of the 2002 ISDA Master Agreement (the "Agreement") as
if Citibank and Counterparty had executed an agreement in such form (but without
any Schedule except for the election of the laws of the State of New York as the
governing law) on the Trade Date. In the event of any inconsistency between
provisions of that Agreement and this Confirmation, this Confirmation will
prevail for the purpose of the Transaction to which this Confirmation relates.
The parties hereby agree that no Transaction other than the Transaction to which
this Confirmation relates shall be governed by the Agreement.

2. The terms of the particular Transaction to which this Confirmation relates
are as follows:

General Terms:

   Trade Date:                      May 8, 2007

   Option Style:                    "Modified American", as described under
                                    "Procedures for Exercise" below

   Option Type:                     Call

   Buyer:                           Counterparty

   Seller:                          Citibank

   Shares:                          The capital stock of Counterparty, par value
                                    USD 1 per Share (Exchange symbol "CHE")

   Number of Options:               90,000; provided that the Number of Options
                                    shall be automatically increased as of the
                                    date of exercise (the "Greenshoe Exercise")
                                    by J.P. Morgan Securities Inc. and
                                    Citigroup Global Markets Inc. as
                                    representatives of the Initial Purchasers
                                    (as defined in the Purchase Agreement dated
                                    as of May 8, 2007 between Counterparty,
                                    J.P. Morgan Securities Inc. and Citigroup
                                    Global Markets Inc. as representatives of
                                    the Initial Purchasers party thereto (the
                                    "Purchase Agreement")), of their option
                                    pursuant to Section 1 of the Purchase
                                    Agreement by the number of additional
                                    Convertible Notes in denominations of USD
                                    1,000 principal amount issued pursuant to
                                    such exercise (such Convertible Notes, the
                                    "Additional Convertible Notes") multiplied
                                    by 50% (the "Additional Options"). For the
                                    avoidance of doubt, the Number of Options
                                    shall be reduced by any Options exercised
                                    by Counterparty. In no event will the
                                    Number of Options be less than zero.

   Option Entitlement:              As of any date, a number equal to the
                                    Conversion Rate as of such date (as defined
                                    in the Indenture, but without regard to any
                                    adjustments to the Conversion Rate pursuant
                                    to Section 11.02(h), Section 11.02(i) or to
                                    Section 11.03 of the Indenture), for each
                                    Convertible Note.

                                       2

<PAGE>

   Strike Price:                    USD 80.7275

   Premium:                         USD 24,702,300 (Premium per Option: USD
                                    274.4700); provided that if the Number of
                                    Options is increased pursuant to the
                                    proviso to the definition of "Number of
                                    Options" above, there shall be an
                                    additional Premium equal to the product of
                                    the number of Additional Options and the
                                    Premium per Option (the "Additional
                                    Premium"), and such Additional Premium
                                    shall be paid by Counterparty to Citibank
                                    on the Additional Premium Payment Date.

   Premium Payment Date:            May 14, 2007

   Additional Premium Payment Date: The closing date for the purchase and sale
                                    of the Additional Convertible Notes.

   Exchange:                        The New York Stock Exchange

   Related Exchange(s):             All Exchanges

Procedures for Exercise:

   Exercise Period(s):              Notwithstanding anything to the contrary in
                                    the Equity Definitions, an Exercise Period
                                    shall occur with respect to an Option
                                    hereunder only if such Option is an
                                    Exercisable Option (as defined below) and
                                    the Exercise Period shall be, in respect of
                                    any Exercisable Option, the period
                                    commencing on, and including, the relevant
                                    Conversion Date and ending on, and
                                    including, the Scheduled Valid Day
                                    immediately preceding the first day of the
                                    relevant Settlement Averaging Period in
                                    respect of such Conversion Date; provided
                                    that in respect of Exercisable Options
                                    relating to Convertible Notes for which the
                                    relevant Conversion Date occurs on or after
                                    March 1, 2014, the final day of the
                                    Exercise Period shall be the Scheduled
                                    Valid Day immediately preceding the
                                    Expiration Date.

   Conversion Date:                 With respect to any conversion of
                                    Convertible Notes, the date on which the
                                    Holder (as such term is defined in the
                                    Indenture) of such Convertible Notes
                                    satisfies all of the requirements for
                                    conversion thereof as set forth in Section
                                    11.01(b) of the Indenture.

   Exercisable Options:             In respect of each Exercise Period, a number
                                    of Options equal to 50% of the number of
                                    USD 1,000 principal amount of Convertible
                                    Notes surrendered to Counterparty for
                                    conversion with respect to such Exercise
                                    Period but no greater than the Number of
                                    Options.

   Expiration Time:                 The Valuation Time

                                       3

<PAGE>

   Expiration Date:                 May 15, 2014, subject to earlier exercise.

   Multiple Exercise:               Applicable, as described under Exercisable
                                    Options above.

   Automatic Exercise:              Applicable; and means that in respect of an
                                    Exercise Period, a number of Options not
                                    previously exercised hereunder equal to the
                                    number of Exercisable Options shall be
                                    deemed to be exercised on the final day of
                                    such Exercise Period for such Exercisable
                                    Options; provided that such Options shall
                                    be deemed exercised only to the extent that
                                    Counterparty has provided a Notice of
                                    Exercise to Citibank.

   Notice of Exercise:              Notwithstanding anything to the contrary in
                                    the Equity Definitions, in order to
                                    exercise any Exercisable Options,
                                    Counterparty must notify Citibank in
                                    writing before 5:00 p.m. (New York City
                                    time) on the Scheduled Valid Day prior to
                                    the scheduled first day of the Settlement
                                    Averaging Period for the Exercisable
                                    Options being exercised (the "Notice
                                    Deadline") of (i) the number of such
                                    Options and (ii) the scheduled first day of
                                    the Settlement Averaging Period and the
                                    scheduled Settlement Date; provided that,
                                    notwithstanding the foregoing, such notice
                                    (and the related exercise of Exercisable
                                    Options) shall be effective if given after
                                    the Notice Deadline but prior to 5:00 p.m.
                                    (New York City time) on the fifth Scheduled
                                    Valid Day after the Notice Deadline, in
                                    which event the Calculation Agent shall
                                    have the right to adjust the number of Net
                                    Shares as appropriate to reflect the
                                    additional costs (including, but not
                                    limited to, hedging mismatches and market
                                    losses) and expenses incurred by Citibank
                                    in connection with its hedging activities
                                    (including the unwinding of any hedge
                                    position) as a result of Citibank not
                                    having received such notice prior to the
                                    Notice Deadline; provided further that in
                                    respect of Exercisable Options relating to
                                    Convertible Notes with a Conversion Date
                                    occurring on or after March 1, 2014, such
                                    notice may be given on or prior to the
                                    second Scheduled Valid Day immediately
                                    preceding the Expiration Date and need only
                                    specify the number of such Exercisable
                                    Options.

   Valuation Time:                  At the close of trading of the regular
                                    trading session on the Exchange.

   Market Disruption Event:         Section 6.3(a) of the Equity Definitions is
                                    hereby replaced in its entirety by the
                                    following:

                                    "'Market Disruption Event' means in respect
                                    of a Share, (i) a failure by the primary
                                    United States national or regional
                                    securities exchange or market on which
                                    Shares are listed or admitted to trading to
                                    open for trading during its regular trading
                                    session or (ii) the occurrence or existence
                                    prior to 1:00 p.m. (New York City time) on
                                    any Scheduled Valid Day for the Shares for
                                    an aggregate one half hour period of any
                                    suspension or limitation imposed on trading
                                    (by reason of movements in price exceeding
                                    limits permitted by the relevant stock
                                    exchange or otherwise) in the Shares or in
                                    any options, contracts or future contracts
                                    relating to the Shares."

                                       4

<PAGE>

Settlement Terms:

   Settlement Method:               Net Share Settlement

   Net Share Settlement:            Citibank will deliver to Counterparty, on
                                    the relevant Settlement Date, a number of
                                    Shares equal to the Net Shares in respect
                                    of any Exercisable Option exercised or
                                    deemed exercised hereunder. In no event
                                    will the Net Shares be less than zero.

   Net Shares:                      In respect of any Exercisable Option
                                    exercised or deemed exercised, a number of
                                    Shares equal to (i) the Option Entitlement
                                    multiplied by (ii) the sum of the
                                    quotients, for each Valid Day during the
                                    Settlement Averaging Period for such
                                    Exercisable Option, of (A) the Relevant
                                    Price on such Valid Day less the Strike
                                    Price, divided by (B) such Relevant Price,
                                    divided by (iii) the number of Valid Days
                                    in the Settlement Averaging Period;
                                    provided, however, that if the calculation
                                    contained in clause (A) above results in a
                                    negative number, such number shall be
                                    replaced with the number "zero".

                                    Citibank will deliver cash in lieu of any
                                    fractional Shares to be delivered with
                                    respect to any Net Shares valued at the
                                    Relevant Price for the last Valid Day of
                                    the Settlement Averaging Period.

   Valid Day:                       A day on which (i) trading in the Shares
                                    generally occurs on the Exchange or, if the
                                    Shares are not then listed on the Exchange,
                                    on the principal other U.S. national or
                                    regional securities exchange on which the
                                    Shares are then listed or, if the Shares
                                    are not then listed on a U.S. national or
                                    regional securities exchange, on the
                                    principal other market on which the Shares
                                    are then traded and (ii) there is no Market
                                    Disruption Event.

   Scheduled Valid Day:             A day on which trading in the Shares is
                                    scheduled to occur on the principal U.S.
                                    national or regional securities exchange or
                                    market on which the Shares are listed or
                                    admitted for trading.

   Relevant Price:                  On any Valid Day, the per Share volume-
                                    weighted average price as displayed under
                                    the heading "Bloomberg VWAP" on Bloomberg
                                    page CHE.N (equity) AQR (or any successor
                                    thereto) in respect of the period from the
                                    scheduled opening time of the Exchange to
                                    the Scheduled Closing Time of the Exchange
                                    on such Valid Day (or if such volume-
                                    weighted average price is unavailable, the
                                    market value of one Share on such Valid
                                    Day, as determined by the Calculation Agent
                                    using a volume-weighted method).

                                       5
<PAGE>

   Settlement Averaging Period:     For any Exercisable Option, (x) if
                                    Counterparty has, on or prior to March 1,
                                    2014, delivered a Notice of Exercise to
                                    Citibank with respect to such Exercisable
                                    Option with a Conversion Date occurring
                                    prior to March 1, 2014, the forty (40)
                                    consecutive Valid Days commencing on and
                                    including the second Scheduled Valid Day
                                    following such Conversion Date, or (y) if
                                    Counterparty has, on or following March 1,
                                    2014, delivered a Notice of Exercise to
                                    Citibank with respect to such Exercisable
                                    Option with a Conversion Date occurring on
                                    or following March 1, 2014, the forty (40)
                                    consecutive Valid Days commencing on, and
                                    including, the forty second (42nd)
                                    Scheduled Valid Day immediately prior to
                                    the Expiration Date.

   Settlement Date:                 For any Exercisable Option, the date Shares
                                    will be delivered with respect to the
                                    Convertible Notes related to such
                                    Exercisable Options, under the terms of the
                                    Indenture.

   Settlement Currency:             USD

   Failure to Deliver:              Applicable

   Other Applicable Provisions:     The provisions of Sections 9.1(c), 9.8, 9.9,
                                    9.11, 9.12 and 10.5 of the Equity
                                    Definitions will be applicable, except that
                                    all references in such provisions to
                                    "Physically-settled" shall be read as
                                    references to "Net Share Settled". "Net
                                    Share Settled" in relation to any Option
                                    means that Net Share Settlement is
                                    applicable to that Option.

   Representation and Agreement:    Notwithstanding Section 9.11 of the Equity
                                    Definitions, the parties acknowledge that
                                    any Shares delivered to Counterparty shall
                                    be, upon delivery, subject to restrictions
                                    and limitations arising from Counterparty's
                                    status as issuer of the Shares under
                                    applicable securities laws.

3. Additional Terms applicable to the Transaction:

   Adjustments applicable to the Transaction:

   Potential Adjustment Events:     Notwithstanding Section 11.2(e) of the
                                    Equity Definitions, a "Potential Adjustment
                                    Event" means an occurrence of any event or
                                    condition, as set forth in Section 11.02 of
                                    the Indenture that would result in an
                                    adjustment to the Conversion Rate of the
                                    Convertible Notes; provided that in no
                                    event shall there be any adjustment
                                    hereunder as a result of an adjustment to
                                    the Conversion Rate pursuant to Section
                                    11.02(h), Section 11.02(i) or Section 11.03
                                    of the Indenture.

                                       6
<PAGE>

   Method of Adjustment:            Calculation Agent Adjustment, and means
                                    that, notwithstanding Section 11.2(c) of
                                    the Equity Definitions, upon any adjustment
                                    to the Conversion Rate of the Convertible
                                    Notes pursuant to the Indenture (other than
                                    Section 11.02(h), Section 11.02(i) and
                                    Section 11.03 of the Indenture), the
                                    Calculation Agent will make a corresponding
                                    adjustment to any one or more of the Strike
                                    Price, Number of Options, the Option
                                    Entitlement and any other variable relevant
                                    to the exercise, settlement or payment for
                                    the Transaction. The Calculation Agent
                                    shall promptly thereafter notify Citibank
                                    and Counterparty of any such corresponding
                                    adjustment.

Extraordinary Events applicable to the Transaction:

   Merger Events:                   Notwithstanding Section 12.1(b) of the
                                    Equity Definitions, a "Merger Event" means
                                    the occurrence of any event or condition
                                    set forth in clause (2) of the definition
                                    of Fundamental Change in Section 1.01 of
                                    the Indenture.

   Tender Offers:                   Applicable; provided that notwithstanding
                                    Section 12.1(d) of the Equity Definitions,
                                    a "Tender Offer" means the occurrence of
                                    any event or condition set forth in clause
                                    (1) of the definition of Fundamental Change
                                    in Section 1.01 of the Indenture.

   Consequence of Merger Events/
   Tender Offers:                   Notwithstanding Section 12.2 and Section
                                    12.3 of the Equity Definitions, upon the
                                    occurrence of a Merger Event or a Tender
                                    Offer, the Calculation Agent shall make a
                                    corresponding adjustment in respect of any
                                    adjustment under the Indenture to any one
                                    or more of the nature of the Shares, Strike
                                    Price, Number of Options, the Option
                                    Entitlement and any other variable relevant
                                    to the exercise, settlement or payment for
                                    the Transaction; provided, however, that
                                    such adjustment shall be made without
                                    regard to any adjustment to the Conversion
                                    Rate for the issuance of additional shares
                                    as set forth in Section 11.03 of the
                                    Indenture; provided further that if, with
                                    respect to a Merger Event or a Tender
                                    Offer, the consideration for the Shares
                                    includes (or, at the option of a holder of
                                    Shares, may include) shares of an entity or
                                    person not organized under the laws of the
                                    United States, any State thereof or the
                                    District of Columbia," Cancellation and
                                    Payment shall apply.

   Nationalization, Insolvency or   Cancellation and Payment (Calculation Agent
    Delisting:                      Determination); provided that, in addition
                                    to the provisions of Section 12.6(a)(iii)
                                    of the Equity Definitions, it will also
                                    constitute a Delisting if the Exchange is
                                    located in the United States and the Shares
                                    are not immediately re-listed, re-traded or
                                    re-quoted on any of the New York Stock
                                    Exchange, the American Stock Exchange, The
                                    NASDAQ Global Select Market or The NASDAQ
                                    Global Market (or their respective
                                    successors); if the Shares are immediately
                                    re-listed, re-traded or re-quoted on any of
                                    the New York Stock Exchange, the American
                                    Stock Exchange, The NASDAQ Global Select
                                    Market or The NASDAQ Global Market (or
                                    their respective successors), such exchange
                                    or quotation system shall thereafter be
                                    deemed to be the Exchange.

                                       7
<PAGE>

   Additional Disruption Events:

   Change in Law:                   Applicable

   Insolvency Filing:               Applicable

   Failure to Deliver:              Applicable

   Hedging Party:                   For all applicable Additional Disruption
                                    Events, Citibank

   Determining Party:               For all applicable Additional Disruption
                                    Events, Citibank

Non-Reliance:                       Applicable

Agreements and Acknowledgements
Regarding Hedging Activities:       Applicable

Additional Acknowledgments:         Applicable

4. Calculation Agent:               Citibank. The Calculation Agent shall, upon
                                    request by the Counterparty, provide a
                                    written explanation of any calculation made
                                    by it including, where applicable, a
                                    description of the methodology and data
                                    applied.

5. Account Details:

         (a) Account for payments to Counterparty:

                    JP Morgan Chase Bank
                    ABA# 021000021
                    Acct: Chemed Corporation
                    Acct No.: 94-13065

             Account for delivery of Shares to Counterparty:

                    To be provided by Counterparty

         (b) Account for payments to Citibank:

                    Citibank, N.A.
                    ABA #021000089
                    DDA 00167679
                    Ref: Equity Derivatives

             Account for delivery of Shares from Citibank:

                    DTC 418

                                       8

<PAGE>

6. Offices:

The Office of Counterparty for the Transaction is: Inapplicable, Counterparty is
not a Multibranch Party.

The Office of Citibank for the Transaction is: 390 Greenwich Street, New York,
NY 10013

7. Notices: For purposes of this Confirmation:

         (a) Address for notices or communications to Counterparty:
             Chemed Corporation
             2600 Chemed Center
             255 East Fifth Street
             Cincinnati, OH 45202
             Attention: Chief Financial Officer
             Telephone No.:    (513) 762-6901
             Facsimile No.:    (513) 287-6713

         (b) Address for notices or communications to Citibank:
             To:             Citibank, N.A.
                             390 Greenwich Street, 5th Floor
                             New York, NY 10013

             Attention:      Equity Derivatives
             Telephone:      (212) 723-7357
             Facsimile:      (212) 723-8328

             To:             Citibank, N.A.
                             3880 Greenwich Street, 17th Floor
                             New York, NY 10013

             Attention:      CIB Legal Group--Derivatives
             Telephone:      (212) 816-2944
             Facsimile:      (646) 291-5875

8.  Representations and Warranties

(i) Representations and Warranties of Counterparty

The representations and warranties of Counterparty set forth in Section 3 of the
Purchase Agreement are true and correct and are hereby deemed to be repeated to
Citibank as if set forth herein. Counterparty hereby further represents and
warrants to Citibank that:

     (a)  Counterparty has all necessary corporate power and authority to
          execute, deliver and perform its obligations in respect of this
          Transaction; such execution, delivery and performance have been duly
          authorized by all necessary corporate action on Counterparty's part;
          and this Confirmation has been duly and validly executed and delivered
          by Counterparty and constitutes its valid and binding obligation,
          enforceable against Counterparty in accordance with its terms, subject
          to applicable bankruptcy, insolvency, fraudulent conveyance,
          reorganization, moratorium and similar laws affecting creditors'
          rights and remedies generally, and to general principles of equity,
          including principles of commercial reasonableness, good faith and fair
          dealing (regardless of whether enforcement is sought in a proceeding
          at law or in equity) and except that rights to indemnification and
          contribution hereunder may be limited by federal or state securities
          laws or public policy relating thereto.

                                       9
<PAGE>

     (b)  Neither the execution and delivery of this Confirmation nor the
          incurrence or performance of obligations of Counterparty hereunder
          will (i) conflict with or result in a breach of the certificate of
          incorporation or by-laws (or any equivalent documents) of
          Counterparty, or any applicable law or regulation, or any order, writ,
          injunction or decree of any court or governmental authority or agency,
          or any agreement or instrument to which Counterparty or any of its
          subsidiaries is a party or by which Counterparty or any of its
          subsidiaries is bound or to which Counterparty or any of its
          subsidiaries is subject (including, but not limited to, any agreements
          and contracts of Counterparty or any of its subsidiaries filed as
          exhibits to Counterparty's Annual Report on Form 10-K for the year
          ended December 31, 2006, incorporated by reference in the Offering
          Memorandum), or (ii) constitute a default under, or result in the
          creation of any lien under, any such agreement or instrument.

     (c)  No consent, approval, authorization, or order of, or filing with, any
          governmental agency or body or any court is required in connection
          with the execution, delivery or performance by Counterparty of this
          Confirmation, except such as have been obtained or made and such as
          may be required under the Securities Act of 1933, as amended (the
          "Securities Act") or state securities laws.

     (d)  It is an "eligible contract participant" (as such term is defined in
          Section 1a(12) of the Commodity Exchange Act, as amended (the "CEA"))
          because one or more of the following is true:

          Counterparty is a corporation, partnership, proprietorship,
          organization, trust or other entity and:

          (A)  Counterparty has total assets in excess of USD 10,000,000;

          (B)  the obligations of Counterparty hereunder are guaranteed, or
               otherwise supported by a letter of credit or keepwell, support or
               other agreement, by an entity of the type described in Section
               1a(12)(A)(i) through (iv), 1a(12)(A)(v)(I), 1a(12)(A)(vii) or
               1a(12)(C) of the CEA; or

          (C)  Counterparty has a net worth in excess of USD 1,000,000 and has
               entered into this Agreement in connection with the conduct of
               Counterparty's business or to manage the risk associated with an
               asset or liability owned or incurred or reasonably likely to be
               owned or incurred by Counterparty in the conduct of
               Counterparty's business.

     (e)  Each of it and its controlled affiliates is not, on the date hereof,
          in possession of any material non-public information with respect to
          Counterparty.

(ii) Additional representations and warranties

     (a) Citibank represents that it is an "eligible contract participant" as
defined in Section 1a(12) of the CEA.

     (b)  Each of Citibank and Counterparty acknowledges that the offer and sale
          of the Transaction to it is intended to be exempt from registration
          under the Securities Act, by virtue of Section 4(2) thereof.

                                       10
<PAGE>

9. Other Provisions:

     (a)  Opinions. Counterparty shall deliver to Citibank an opinion of
          counsel, dated as of the Trade Date, with respect to the matters set
          forth in Sections 8(i)(a) through (c) of this Confirmation.

     (b)  Reserved

     (c)  Repurchase Notices. Counterparty shall, on any day on which
          Counterparty effects any repurchase of Shares, promptly give Citibank
          a written notice of such repurchase (a "Repurchase Notice") on such
          day if following such repurchase, the number of outstanding Shares as
          determined on such day is (i) less than 21 million (in the case of the
          first such notice) or (ii) thereafter more than 1.60 million less than
          the number of Shares included in the immediately preceding Repurchase
          Notice. Counterparty agrees to indemnify and hold harmless Citibank
          and its affiliates and their respective officers, directors,
          employees, affiliates, advisors, agents and controlling persons (each,
          an "Indemnified Person") from and against any and all losses
          (including losses relating to Citibank's hedging activities as a
          consequence of becoming, or of the risk of becoming, a Section 16
          "insider", including without limitation, any forbearance from hedging
          activities or cessation of hedging activities and any losses in
          connection therewith with respect to this Transaction), claims,
          damages, judgments, liabilities and expenses (including reasonable
          attorney's fees), joint or several, which an Indemnified Person may
          become subject to, as a result of Counterparty's failure to provide
          Citibank with a Repurchase Notice on the day and in the manner
          specified in this paragraph, and to reimburse, within 30 days, upon
          written request, each of such Indemnified Persons for any reasonable
          legal or other expenses incurred in connection with investigating,
          preparing for, providing testimony or other evidence in connection
          with or defending any of the foregoing. If any suit, action,
          proceeding (including any governmental or regulatory investigation),
          claim or demand shall be brought or asserted against the Indemnified
          Person as a result of Counterparty's failure to provide Citibank with
          a Repurchase Notice in accordance with this paragraph, such
          Indemnified Person shall promptly notify Counterparty in writing, and
          Counterparty, upon request of the Indemnified Person, shall retain
          counsel reasonably satisfactory to the Indemnified Person to represent
          the Indemnified Person and any others Counterparty may designate in
          such proceeding and shall pay the fees and expenses of such counsel
          related to such proceeding. Counterparty shall not be liable for any
          settlement of any proceeding contemplated by this paragraph that is
          effected without its written consent, but if settled with such consent
          or if there be a final judgment for the plaintiff, Counterparty agrees
          to indemnify any Indemnified Person from and against any loss or
          liability by reason of such settlement or judgment. Counterparty shall
          not, without the prior written consent of the Indemnified Person,
          effect any settlement of any pending or threatened proceeding
          contemplated by this paragraph that is in respect of which any
          Indemnified Person is or could have been a party and indemnity could
          have been sought hereunder by such Indemnified Person, unless such
          settlement (x) includes an unconditional release of such Indemnified
          Person, in form and substance reasonably satisfactory to such
          Indemnified Person, from all liability on claims that are the subject
          matter of such proceeding and (y) does not include any statement as to
          or any admission of fault, culpability or a failure to act by or on
          behalf of any Indemnified Person. If the indemnification provided for
          in this paragraph is unavailable to an Indemnified Person or
          insufficient in respect of any losses, claims, damages or liabilities
          referred to therein, then Counterparty hereunder, in lieu of
          indemnifying such Indemnified Person thereunder, shall contribute to
          the amount paid or payable by such Indemnified Person as a result of
          such losses, claims, damages or liabilities. The remedies provided for
          in this paragraph (c) are not exclusive and shall not limit any rights
          or remedies which may otherwise be available to any Indemnified Party
          at law or in equity. The indemnity and contribution agreements
          contained in this paragraph shall remain operative and in full force
          and effect regardless of the termination of this Transaction.

                                       11
<PAGE>

     (d)  Regulation M. Counterparty is not on the date hereof engaged in a
          distribution, as such term is used in Regulation M under the
          Securities Exchange Act of 1934, as amended (the "Exchange Act"), of
          any securities of Counterparty, other than (i) a distribution meeting
          the requirements of the exception set forth in Rules 101(b)(10) and
          102(b)(7) of Regulation M and (ii) the distribution of the Convertible
          Notes. Counterparty shall not, until the second Scheduled Trading Day
          immediately following the Trade Date, engage in any such distribution.

     (e)  No Manipulation. Counterparty is not entering into this Transaction to
          create actual or apparent trading activity in the Shares (or any
          security convertible into or exchangeable for the Shares) or to raise
          or depress or otherwise manipulate the price of the Shares (or any
          security convertible into or exchangeable for the Shares) or otherwise
          in violation of the Exchange Act.

     (f)  Early Unwind. In the event the sale of Convertible Notes (or, in
          respect of the Greenshoe Exercise, the Additional Convertible Notes)
          is not consummated with the Initial Purchasers for any reason by the
          close of business in New York on May 14, 2007 (or, in respect of the
          Greenshoe Exercise, the third Clearance System Business Day following
          the date of the Greenshoe Exercise (the "Additional Closing Date"))
          (or such later date as agreed upon by the parties) (May 14, 2007 or
          such later date as agreed upon being or, in respect of the Greenshoe
          Exercise, the Additional Closing Date, the "Early Unwind Date"), this
          Transaction (or, in respect of the Greenshoe Exercise, the Additional
          Options) shall automatically terminate (the "Early Unwind"), on the
          Early Unwind Date and (i) the Transaction (or, in respect of the
          Greenshoe Exercise, the Additional Options) and all of the respective
          rights and obligations of Citibank and Counterparty under the
          Transaction (or, in respect of the Greenshoe Exercise, the Additional
          Options) shall be cancelled and terminated and (ii) each party shall
          be released and discharged by the other party from and agrees not to
          make any claim against the other party with respect to any obligations
          or liabilities of the other party arising out of and to be performed
          in connection with the Transaction (or, in respect of the Greenshoe
          Exercise, the Additional Options) either prior to or after the Early
          Unwind Date; provided that, unless the sale of the Convertible Notes
          or the Additional Convertible Notes, as applicable, is not consummated
          due to a breach of the Purchase Agreement by the Initial Purchasers,
          Counterparty shall purchase from Citibank on the Early Unwind Date all
          Shares purchased by Citibank or one or more of its affiliates and
          reimburse Citibank for any commercially reasonable costs or expenses
          (including market losses) relating to the unwinding of its hedging
          activities in connection with the Transaction (or, in respect of the
          Greenshoe Exercise, the Additional Options) (including any loss or
          cost incurred as a result of its terminating, liquidating, obtaining
          or reestablishing any hedge or related trading position). The amount
          of any such reimbursement shall be determined by Citibank in its sole
          good faith discretion. Citibank shall notify Counterparty of such
          amount and Counterparty shall pay such amount in immediately available
          funds on the Early Unwind Date. Citibank and Counterparty represent
          and acknowledge to the other that, subject to the proviso included in
          this paragraph, upon an Early Unwind, all obligations with respect to
          the Transaction shall be deemed fully and finally discharged.

     (g)  Transfer or Assignment. Counterparty may not transfer any of its
          rights or obligations under this Transaction without the prior written
          consent of Citibank. Citibank may not, without Counterparty's consent,
          transfer or assign all or any part of its rights or obligations under
          the Transaction; provided that if (i) Citibank's "beneficial
          ownership" (within the meaning of Section 13 of the Exchange Act and
          rules promulgated thereunder) exceeds 7.5% of Counterparty's
          outstanding Shares or (ii) the quotient of (x) the product of (a) the
          Number of Options and (b) the Option Entitlement divided by (y) the

                                       12

<PAGE>

          number of Counterparty's outstanding Shares (such quotient expressed
          as a percentage, the "Option Equity Percentage") exceeds 14.5%,
          Citibank may assign or transfer a portion of the Transaction without
          Counterparty's consent to any third party with a rating for its long
          term, unsecured and unsubordinated indebtedness equal to or better
          than the lesser of (i) the credit rating of Citibank at the time of
          the transfer and (ii) A- by Standard and Poor's Rating Group, Inc. or
          its successor ("S&P"), or A3 by Moody's Investor Service, Inc.
          ("Moody's") or, if either S&P or Moody's ceases to rate such debt, at
          least an equivalent rating or better by a substitute agency rating
          mutually agreed by Counterparty and Citibank to reduce (i) Citibank's
          "beneficial ownership" (within the meaning of Section 13 of the
          Exchange Act and rules promulgated thereunder) to 7.5% of
          Counterparty's outstanding Shares or less or (ii) the Option Equity
          Percentage to 14.5% or less. If after Citibank's commercially
          reasonable efforts, Citibank is unable to effect a transfer or
          assignment permitted by the proviso to the immediately preceding
          sentence on pricing terms reasonably acceptable to Citibank and within
          a time period reasonably acceptable to Citibank of a sufficient number
          of Options Citibank may designate any Exchange Business Day as an
          Early Termination Date with respect to a portion (the "Terminated
          Portion") of this Transaction, such that (i) its "beneficial
          ownership" following such partial termination will be equal to or less
          than 7.5% or (ii) the Option Equity Percentage following such partial
          termination will be equal to or less than 14.5%. In the event that
          Citibank so designates an Early Termination Date with respect to a
          portion of this Transaction, a payment shall be made pursuant to
          Section 6 of the Agreement as if (i) an Early Termination Date had
          been designated in respect of a Transaction having terms identical to
          this Transaction and a Number of Options equal to the Terminated
          Portion, (ii) Counterparty shall be the sole Affected Party with
          respect to such partial termination and (iii) such Transaction shall
          be the only Terminated Transaction (and, for the avoidance of doubt,
          the provisions of Section 9(n) shall apply to any amount that is
          payable by Citibank to Counterparty pursuant to this sentence as if
          Counterparty was not the Affected Party). Notwithstanding any other
          provision in this Confirmation to the contrary requiring or allowing
          Citibank to purchase, sell, receive or deliver any shares or other
          securities to or from Counterparty, Citibank may designate any of its
          affiliates to purchase, sell, receive or deliver such shares or other
          securities and otherwise to perform Citibank's obligations in respect
          of this Transaction and any such designee may assume such obligations.
          Citibank shall be discharged of its obligations to Counterparty to the
          extent of any such performance.

     (h)  Staggered Settlement. If upon advice of counsel with respect to
          applicable legal and regulatory requirements, including any
          requirements relating to Citibank's hedging activities hereunder,
          Citibank reasonably determines that it would not be practicable or
          advisable to deliver, or to acquire Shares to deliver, any or all of
          the Shares to be delivered by Citibank on the Settlement Date for the
          Transaction, Citibank may, by notice to Counterparty on or prior to
          any Settlement Date (a "Nominal Settlement Date"), elect to deliver
          the Shares on two or more dates (each, a "Staggered Settlement Date")
          as follows:

          (a)  in such notice, Citibank will specify to Counterparty the related
               Staggered Settlement Dates (the first of which will be such
               Nominal Settlement Date and the last of which will be no later
               than the twentieth (20th) Exchange Business Day following such
               Nominal Settlement Date) and the number of Shares that it will
               deliver on each Staggered Settlement Date;

          (b)  the aggregate number of Shares that Citibank will deliver to
               Counterparty hereunder on all such Staggered Settlement Dates
               will equal the number of Shares that Citibank would otherwise be
               required to deliver on such Nominal Settlement Date; and

                                       13

<PAGE>

          (c)  if the Net Share Settlement terms set forth above were to apply
               on the Nominal Settlement Date, then the Net Share Settlement
               terms will apply on each Staggered Settlement Date, except that
               the Net Shares will be allocated among such Staggered Settlement
               Dates as specified by Citibank in the notice referred to in
               clause (a) above.

     (i)  Reserved

     (j)  Reserved

     (k)  Additional Termination Events. Notwithstanding anything to the
          contrary in this Confirmation if an event of default with respect to
          Counterparty shall occur under the terms of the Convertible Notes as
          set forth in Section 5.01 of the Indenture and such event of default
          results in the declaration of any principal and interest immediately
          due and payable pursuant to Section 5.02 of the Indenture, then such
          event of default shall constitute an Additional Termination Event
          applicable to the Transaction and, with respect to such event of
          default (A) Counterparty shall be deemed to be the sole Affected Party
          and the Transaction shall be the sole Affected Transaction and (B)
          Citibank shall be the party entitled to designate an Early Termination
          Date pursuant to Section 6(b) of the Agreement.

     (l)  Amendments to Equity Definitions. (i) Section 12.6(a)(ii) of the
          Equity Definitions is hereby amended by (1) deleting from the fourth
          line thereof the word "or" after the word "official" and inserting a
          comma therefor, and (2) deleting the semi-colon at the end of
          subsection (B) thereof and inserting the following words therefor "or
          (C) at Citibank's option, the occurrence of any of the events
          specified in Section 5(a)(vii) (1) through (9) of the ISDA Master
          Agreement with respect to that Issuer."

          (ii) Section 12.9(b)(i) of the Equity Definitions is hereby amended by
               (1) replacing "either party may elect" with "Citibank may elect"
               and (2) replacing "notice to the other party" with "notice to
               Counterparty" in the first sentence of such section.

     (m)  Setoff. In addition to and without limiting any rights of set-off that
          a party hereto may have as a matter of law, pursuant to contract or
          otherwise, upon the occurrence of an Early Termination Date, Citibank
          (and only Citibank) shall have the right to set off any obligation
          that it may have to Counterparty under this Confirmation, including
          without limitation any obligation to make any payment of cash or
          delivery of Shares to Counterparty, against any obligation
          Counterparty may have to Citibank under any other agreement between
          Citibank and Counterparty relating to Shares (each such contract or
          agreement, a "Separate Agreement"), including without limitation any
          obligation to make a payment of cash or a delivery of Shares or any
          other property or securities. For this purpose, Citibank shall be
          entitled to convert any obligation (or the relevant portion of such
          obligation) denominated in one currency into another currency at the
          rate of exchange at which it would be able to purchase the relevant
          amount of such currency, and to convert any obligation to deliver any
          non-cash property into an obligation to deliver cash in an amount
          calculated by reference to the market value of such property as of the
          Early Termination Date, as determined by the Calculation Agent in its
          sole discretion; provided that in the case of a set-off of any
          obligation to release or deliver assets against any right to receive
          fungible assets, such obligation and right shall be set off in kind
          and; provided further that in determining the value of any obligation
          to deliver Shares, the value at any time of such obligation shall be
          determined by reference to the market value of the Shares at such
          time, as determined in good faith by the Calculation Agent. If an
          obligation is unascertained at the time of any such set-off, the
          Calculation Agent may in good faith estimate the amount or value of
          such obligation, in which case set-off will be effected in respect of
          that estimate, and the relevant party shall account to the other party
          at the time such obligation or right is ascertained.

                                       14

<PAGE>

     (n)  Alternative Calculations and Payment on Early Termination and on
          Certain Extraordinary Events. If in respect of this Transaction, an
          amount is payable by Citibank to Counterparty (i) pursuant to Section
          12.7 or Section 12.9 of the Equity Definitions or (ii) pursuant to
          Section 6(d)(ii) of the Agreement (a "Payment Obligation"),
          Counterparty may request Citibank to satisfy any such Payment
          Obligation by the Share Termination Alternative (as defined below)
          (except that Counterparty shall not make such an election in the event
          of a Nationalization, Insolvency, a Merger Event or Tender Offer, in
          each case, in which the consideration to be paid to holders of Shares
          consists solely of cash, or an Event of Default in which Counterparty
          is the Defaulting Party or a Termination Event in which Counterparty
          is the Affected Party, other than an Event of Default of the type
          described in Section 5(a)(iii), (v), (vi), (vii) or (viii) of the
          Agreement or a Termination Event of the type described in Section 5(b)
          of the Agreement in each case that resulted from an event or events
          outside Counterparty's control) and shall give irrevocable telephonic
          notice to Citibank, confirmed in writing within one Currency Business
          Day, no later than 12:00 p.m. New York local time on the Merger Date,
          the Announcement Date (in the case of Nationalization, Insolvency or
          Delisting), the Early Termination Date or date of cancellation, as
          applicable; provided that if Counterparty does not validly request
          Citibank to satisfy its Payment Obligation by the Share Termination
          Alternative, Citibank shall have the right, in its sole discretion, to
          satisfy its Payment Obligation by the Share Termination Alternative,
          notwithstanding Counterparty's election to the contrary. In
          calculating any amounts under Section 6(e) of the Agreement,
          notwithstanding anything to the contrary in the Agreement, (1)
          separate amounts shall be calculated as set forth in Section 6(e) with
          respect to (i) this Transaction and (ii) all other Transactions, and
          (2) such separate amounts shall be payable pursuant to Section
          6(d)(ii) of the Agreement. For the avoidance of doubt, the parties
          agree that in calculating the Payment Obligation the Determining Party
          may consider the purchase price paid in connection with the purchase
          of Share Termination Delivery Property.

   Share Termination Alternative:              If Applicable, Citibank shall
                                               deliver to Counterparty the
                                               Share Termination Delivery
                                               Property on, or within a
                                               commercially reasonable period
                                               of time after, the date when the
                                               Payment Obligation would
                                               otherwise be due pursuant to
                                               Section 12.7 or 12.9 of the
                                               Equity Definitions or Section
                                               6(d)(ii) and 6(e) of the
                                               Agreement, as applicable (the
                                               "Share Termination Payment
                                               Date"), in satisfaction of the
                                               Payment Obligation in the manner
                                               reasonably requested by
                                               Counterparty free of payment.

   Share Termination Delivery Property:        A number of Share Termination
                                               Delivery Units, as calculated by
                                               the Calculation Agent, equal to
                                               the Payment Obligation divided
                                               by the Share Termination Unit
                                               Price. The Calculation Agent
                                               shall adjust the Share
                                               Termination Delivery Property by
                                               replacing any fractional portion
                                               of a security therein with an
                                               amount of cash equal to the
                                               value of such fractional
                                               security based on the values
                                               used to calculate the Share
                                               Termination Unit Price.

                                       15

<PAGE>

   Share Termination Unit Price:               The value to Citibank of property
                                               contained in one Share
                                               Termination Delivery Unit, as
                                               determined by the Calculation
                                               Agent in its discretion by
                                               commercially reasonable means
                                               and notified by the Calculation
                                               Agent to Citibank at the time of
                                               notification of the Payment
                                               Obligation.

   Share Termination Delivery Unit:            One Share or, if a Merger Event
                                               has occurred and a corresponding
                                               adjustment to this Transaction
                                               has been made, a unit consisting
                                               of the number or amount of each
                                               type of property received by a
                                               holder of one Share (without
                                               consideration of any requirement
                                               to pay cash or other
                                               consideration in lieu of
                                               fractional amounts of any
                                               securities) in such Merger
                                               Event, as determined by the
                                               Calculation Agent.

   Failure to Deliver:                         Applicable

   Other applicable provisions:                If Share Termination Alternative
                                               is applicable, the provisions of
                                               Sections 9.8, 9.9, 9.11, 9.12
                                               and 10.5 (as modified above) of
                                               the Equity Definitions will be
                                               applicable, except that all
                                               references in such provisions to
                                               "Physically-settled" shall be
                                               read as references to "Share
                                               Termination Settled" and all
                                               references to "Shares" shall be
                                               read as references to "Share
                                               Termination Delivery Units".
                                               "Share Termination Settled" in
                                               relation to this Transaction
                                               means that Share Termination
                                               Alternative is applicable to
                                               this Transaction.

     (o)  Governing Law. New York law (without reference to choice of law
          doctrine).

     (p)  Waiver of Jury Trial. Each party waives, to the fullest extent
          permitted by applicable law, any right it may have to a trial by jury
          in respect of any suit, action or proceeding relating to this
          Transaction. Each party (i) certifies that no representative, agent or
          attorney of either party has represented, expressly or otherwise, that
          such other party would not, in the event of such a suit, action or
          proceeding, seek to enforce the foregoing waiver and (ii) acknowledges
          that it and the other party have been induced to enter into this
          Transaction, as applicable, by, among other things, the mutual waivers
          and certifications provided herein.

     (q)  Registration. Counterparty hereby agrees that if, in the good faith
          reasonable judgment of Citibank, the Shares ("Hedge Shares") acquired
          by Citibank for the purpose of hedging its obligations pursuant to
          this Transaction cannot be sold in the public market by Citibank
          without registration under the Securities Act, Counterparty shall, at
          its election, either (i) in order to allow Citibank to sell the Hedge
          Shares in a registered offering, make available to Citibank an
          effective registration statement under the Securities Act and enter
          into an agreement, in form and substance satisfactory to Citibank,
          substantially in the form of an underwriting agreement for a
          registered secondary offering; provided, however, that if Citibank, in
          its reasonable discretion, is not satisfied with access to due
          diligence materials, the results of its due diligence investigation,
          or the procedures and documentation for the registered offering

                                       16

<PAGE>

          referred to above, then clause (ii) or clause (iii) of this paragraph
          shall apply at the election of Counterparty, (ii) in order to allow
          Citibank to sell the Hedge Shares in a private placement, enter into a
          private placement agreement substantially similar to private placement
          purchase agreements customary for private placements of equity
          securities, in form and substance satisfactory to Citibank (in which
          case, the Calculation Agent shall make any adjustments to the terms of
          this Transaction that are necessary, in its reasonable judgment, to
          compensate Citibank for any discount from the public market price of
          the Shares incurred on the sale of Hedge Shares in a private
          placement), or (iii) purchase the Hedge Shares from Citibank at the
          Relevant Price on such Exchange Business Days, and in the amounts,
          requested by Citibank.

     (r)  Tax Disclosure. Effective from the date of commencement of discussions
          concerning the Transaction, Counterparty and each of its employees,
          representatives, or other agents may disclose to any and all persons,
          without limitation of any kind, the tax treatment and tax structure of
          the Transaction and all materials of any kind (including opinions or
          other tax analyses) that are provided to Counterparty relating to such
          tax treatment and tax structure.

     (s)  Right to Extend. Citibank may delay any Settlement Date or any other
          date of delivery by Citibank, with respect to some or all of the
          Options hereunder, if Citibank reasonably determines, in its
          discretion, that such extension is reasonably necessary to enable
          Citibank to effect purchases of Shares in connection with its hedging
          activity or settlement activity hereunder in a manner that would, if
          Citibank were Counterparty or an affiliated purchaser of Counterparty,
          be in compliance with applicable legal and regulatory requirements.

     (t)  Status of Claims in Bankruptcy. Citibank acknowledges and agrees that
          this Confirmation is not intended to convey to Citibank rights against
          Counterparty with respect to the Transaction that are senior to the
          claims of common stockholders of Counterparty in any U.S. bankruptcy
          proceedings of Counterparty; provided that nothing herein shall limit
          or shall be deemed to limit Citibank's right to pursue remedies in the
          event of a breach by Counterparty of its obligations and agreements
          with respect to the Transaction; provided, further, that nothing
          herein shall limit or shall be deemed to limit Citibank's rights in
          respect of any transactions other than the Transaction.

     (u)  Securities Contract; Swap Agreement. The parties hereto intend for:
          (a) the Transaction to be a "securities contract" and a "swap
          agreement" as defined in the Bankruptcy Code (Title 11 of the United
          States Code) (the "Bankruptcy Code"), and the parties hereto to be
          entitled to the protections afforded by, among other Sections,
          Sections 362(b)(6), 362(b)(17), 546(e), 546(g), 555 and 560 of the
          Bankruptcy Code; (b) a party's right to liquidate the Transaction and
          to exercise any other remedies upon the occurrence of any Event of
          Default under the Agreement with respect to the other party to
          constitute a "contractual right" as described in the Bankruptcy Code;
          and (c) each payment and delivery of cash, securities or other
          property hereunder to constitute a "margin payment" or "settlement
          payment" and a "transfer" as defined in the Bankruptcy Code.

     (v)  Additional Provisions. Counterparty covenants and agrees that, as
          promptly as practicable following the public announcement of any
          consolidation, merger and binding share exchange to which Counterparty
          is a party, or any sale of all or substantially all of Counterparty's
          assets, in each case pursuant to which the Shares will be converted
          into cash, securities or other property, Counterparty shall notify
          Citibank in writing of the types and amounts of consideration that
          holders of Shares have elected to receive upon consummation of such
          transaction or event (the date of such notification, the
          "Consideration Notification Date"); provided that in no event shall
          the Consideration Notification Date be later than the date on which
          such transaction or event is consummated.

                            [signature page follows]

                                       17

<PAGE>

         Please confirm that the foregoing correctly sets forth the terms of our
agreement by executing this Confirmation and returning an executed copy to
Equity Derivatives, Citibank, N.A., 390 Greenwich Street, New York, New York
10013, Facsimile No. (212) 723-8328.

                                         Very truly yours,

                                         CITIBANK, N.A.

                                         /s/ William Ortner
                                         ----------------------
                                           Authorized Signatory

         Accepted and confirmed
         as of the Trade Date:

         CHEMED CORPORATION

         By: /s/ David P. Williams
         ------------------------------------
         Authorized Signatory
         Name:   David P. Williams

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