Document:

Form of 2004 Employee Stock Purchase Plan

 Exhibit 10.4 
  
 PORTALPLAYER, INC. 
  
 2004 EMPLOYEE STOCK PURCHASE PLAN 
  
 (Adopted by the Board on July 29, 2004) 
  

 Table of Contents 
  

			
	 	  	Page

	 SECTION 1 Purpose Of The Plan
	  	1
	 SECTION 2 Definitions
	  	1
	 (a) “Accumulation Period”
	  	1
	 (b) “Board”
	  	1
	 (c) “Code”
	  	1
	 (d) “Committee”
	  	1
	 (e) “Company”
	  	1
	 (f) “Compensation”
	  	1
	 (g) “Corporate Reorganization”
	  	1
	 (h) “Eligible Employee”
	  	2
	 (i) “Exchange Act”
	  	2
	 (j) “Fair Market Value”
	  	2
	 (k) “IPO”
	  	2
	 (l) “Offering Period”
	  	2
	 (m) “Participant”
	  	3
	 (n) “Participating Company”
	  	3
	 (o) “Plan”
	  	3
	 (p) “Plan Account”
	  	3
	 (q) “Purchase Price”
	  	3
	 (r) “Stock”
	  	3
	 (s) “Subsidiary”
	  	3
	 SECTION 3 Administration Of The Plan
	  	3
	 (a) Committee Composition
	  	3
	 (b) Committee Responsibilities
	  	3
	 SECTION 4 Enrollment And Participation
	  	3
	 (a) Offering Periods
	  	3
	 (b) Accumulation Periods
	  	3
	 (c) Enrollment
	  	4
	 (d) Duration of Participation
	  	4
	 (e) Applicable Offering Period
	  	4
	 SECTION 5 Employee Contributions
	  	4
	 (a) Frequency of Payroll Deductions
	  	4
	 (b) Amount of Payroll Deductions
	  	5
	 (c) Changing Withholding Rate
	  	5
	 (d) Discontinuing Payroll Deductions
	  	5
	 (e) Limit on Number of Elections
	  	5
	 SECTION 6 Withdrawal From The Plan
	  	5
	 (a) Withdrawal
	  	5
	 (b) Re-enrollment After Withdrawal
	  	5

  

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 2004 EMPOYEE STOCK PURCHASE PLAN 
  
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	 SECTION 7 Change In Employment Status
	  	6
	 (a) Termination of Employment
	  	6
	 (b) Leave of Absence
	  	6
	 (c) Death
	  	6
	 SECTION 8 Plan Accounts And Purchase Of Shares
	  	6
	 (a) Plan Accounts
	  	6
	 (b) Purchase Price
	  	6
	 (c) Number of Shares Purchased
	  	6
	 (d) Available Shares Insufficient
	  	7
	 (e) Issuance of Stock
	  	7
	 (f) Unused Cash Balances
	  	7
	 (g) Stockholder Approval
	  	7
	 SECTION 9 Limitations On Stock Ownership
	  	7
	 (a) Five Percent Limit
	  	7
	 (b) Dollar Limit
	  	8
	 SECTION 10 Rights Not Transferable
	  	8
	 SECTION 11 No Rights As An Employee
	  	9
	 SECTION 12 No Rights As A Stockholder
	  	9
	 SECTION 13 Securities Law Requirements
	  	9
	 SECTION 14 Stock Offered Under The Plan
	  	9
	 (a) Authorized Shares
	  	9
	 (b) Antidilution Adjustments
	  	9
	 (c) Reorganizations
	  	10
	 SECTION 15 Amendment Or Discontinuance
	  	10
	 SECTION 16 Execution
	  	10

  

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 2004 EMPOYEE STOCK PURCHASE PLAN 
  
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 PORTALPLAYER, INC. 
  
 2004 EMPLOYEE STOCK PURCHASE PLAN 
  
 SECTION 1 Purpose Of The Plan. 
  
 The Plan was adopted by the Board on July 29, 2004, effective as of the date
of the IPO. The purpose of the Plan is to provide Eligible Employees with an opportunity to increase their proprietary interest in the success of the Company by purchasing Stock from the Company on favorable terms and to pay for such purchases
through payroll deductions. The Plan is intended to qualify under section 423 of the Code. 
  
 SECTION 2 Definitions. 
  
 (a) “Accumulation Period” means an approximately six-month period during which contributions may be made toward the purchase of Stock
under the Plan, as determined pursuant to Section 4(b), or such other period as the Committee may determine in its sole discretion. 
  
 (b) “Board” means the Board of Directors of the Company, as constituted from time to time. 
  
 (c) “Code” means the Internal Revenue Code of 1986, as
amended. 
  
 (d) “Committee” means a the
Compensation Committee of the Board, as described in Section 3. 
  
 (e) “Company” means PortalPlayer, Inc., a Delaware corporation. 
  
 (f) “Compensation” means (i) the compensation paid in cash to a Participant by a Participating Company, including salaries, wages, commissions, overtime pay and shift premiums, plus (ii) any pre-tax
contributions made by the Participant under section 401(k) or 125 of the Code. “Compensation” shall exclude all non-cash items, moving or relocation allowances, cost-of-living equalization payments, car allowances, tuition reimbursements,
imputed income attributable to cars or life insurance, severance pay, fringe benefits, incentive compensation, bonuses, contributions or benefits received under employee benefit plans, income attributable to the exercise of stock options, and
similar items. The Committee shall determine whether a particular item is included in Compensation. 
  
 (g) “Corporate Reorganization” means: 
  
 (i) The consummation of a merger or consolidation of the Company with or into another entity or any other corporate reorganization in
which the Company’s stockholders immediately prior thereto own less than 50% of the voting securities of the Company (or its successor or parent) immediately thereafter; or 
  

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 2004 EMPLOYEE STOCK PURCHASE PLAN 
  
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 (ii) The sale, transfer or other disposition of all or substantially all of the
Company’s assets or the complete liquidation or dissolution of the Company. 
  
 (h) “Eligible Employee” means any employee of a Participating Company whose customary employment is for more than five months per calendar year and for more than 20 hours per week. 
  
 The foregoing notwithstanding, an individual shall not be considered an
Eligible Employee if his or her participation in the Plan is prohibited by the law of any country which has jurisdiction over him or her or if he or she is subject to a collective bargaining agreement that does not provide for participation in the
Plan. 
  
 (i) “Exchange Act” means the Securities
Exchange Act of 1934, as amended. 
  
 (j) “Fair Market
Value” with respect to a share of Stock, shall mean the market price of one share of Stock, determined by the Committee as follows: 
  
 (i) If the Stock was traded over-the-counter on the date in question but was not traded on The Nasdaq Stock Market, then the Fair Market
Value shall be equal to the last transaction price quoted for such date by the OTC Bulletin Board or, if not so quoted, shall be equal to the mean between the last reported representative bid and asked prices quoted for such date by the principal
automated inter-dealer quotation system on which the Stock is quoted or, if the Stock is not quoted on any such system, by the Pink Sheets LLC; 
  
 (ii) If the Stock was traded on The Nasdaq Stock Market, then the Fair Market Value shall be equal to the last reported sale price quoted
for such date by The Nasdaq Stock Market; 
  
 (iii) If the Stock was traded on a United States stock exchange on the date in question, then the Fair Market Value shall be equal to the closing price reported for such date by the applicable composite-transactions report; and 

 
 (iv) If none of the foregoing provisions is applicable,
then the Fair Market Value shall be determined by the Committee in good faith on such basis as it deems appropriate. 
  
 In all cases, the determination of Fair Market Value by the Committee shall be conclusive and binding on all persons. 
  
 (k) “IPO” means the initial offering of Stock to the public
pursuant to a registration statement filed by the Company with the Securities and Exchange Commission. 
  
 (l) “Offering Period” means an approximately 12-month period with respect to which the right to purchase Stock may be granted under the
Plan, as determined pursuant to Section 4(a), or such other period as the Committee may determine in its sole discretion. 
  

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 2004 EMPLOYEE STOCK PURCHASE PLAN 
  
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 (m) “Participant” means an Eligible Employee who elects to participate in the Plan, as
provided in Section 4(c). 
  
 (n) “Participating
Company” means (i) the Company and (ii) each present or future Subsidiary designated by the Board on the Committee as a Participating Company. 
  
 (o) “Plan” means this PortalPlayer, Inc. 2004 Employee Stock Purchase Plan, as it may be amended from time to time. 
  
 (p) “Plan Account” means the account established for each
Participant pursuant to Section 8(a). 
  
 (q) “Purchase
Price” means the price at which Participants may purchase Stock under the Plan, as determined pursuant to Section 8(b). 
  
 (r) “Stock” means the Common Stock of the Company. 
  
 (s) “Subsidiary” means any corporation (other than the Company) in an unbroken chain of corporations
beginning with the Company, if each of the corporations other than the last corporation in the unbroken chain owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such
chain. 
  
 SECTION 3 Administration Of
The Plan. 
  
 (a) Committee Composition. The Plan
shall be administered by the Committee. The Committee shall consist exclusively of one or more directors of the Company, who shall be appointed by the Board. 
  
 (b) Committee Responsibilities. The Committee shall interpret the Plan and make all other policy decisions relating to the operation of the Plan.
The Committee may adopt such rules, guidelines and forms as it deems appropriate to implement the Plan. The Committee’s determinations under the Plan shall be final and binding on all persons. 
  
 SECTION 4 Enrollment And Participation.

  
 (a) Offering Periods. While the Plan is in effect, two
Offering Periods shall commence in each calendar year. The Offering Periods shall consist of 12-month periods, unless otherwise determined by the Committee, commencing on May 5 and November 5 of each year, except that the first Offering Period shall
commence on the date of the IPO and end on November 4, 2005, unless otherwise determined by the Committee. The next Offering Period shall commence on May 5, 2005 and will end on May 4, 2006. Employees may participate in only one Offering Period at a
time. 
  
 (b) Accumulation Periods. While the Plan is in
effect, two Accumulation Periods shall commence in each calendar year. The Accumulation Periods shall consist of the six-month periods commencing on May 5 and November 5, except that the first Accumulation Period shall 

  

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 2004 EMPLOYEE STOCK PURCHASE PLAN 
  
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commence on the date of the IPO and end on May 4, 2005, unless otherwise determined by the Committee. 
  
 (c) Enrollment. Any individual who, on the day preceding the first day
of an Offering Period (other than the initial Offering Period), qualifies as an Eligible Employee may elect to become a Participant in the Plan for such Offering Period by executing the enrollment form prescribed for this purpose by the Committee.
The enrollment form shall be filed with the Company at the prescribed location not later than 15 days prior to the commencement of such Offering Period. All Eligible Employees shall be automatically enrolled in the initial Offering Period under the
Plan. 
  
 (d) Duration of Participation. Once enrolled in
the Plan, a Participant shall continue to participate in the Plan until he or she ceases to be an Eligible Employee, withdraws from the Plan under Section 6(a) or reaches the end of the Offering Period in which his or her employee contributions were
discontinued under Section 5(d) or Section 9(b). A Participant who discontinued employee contributions under Section 5(d) or withdrew from the Plan under Section 6(a) may again become a Participant, if he or she then is an Eligible Employee, by
following the procedure described in Subsection (c) above. A Participant whose employee contributions were discontinued automatically under Section 9(b) shall automatically resume participation at the beginning of the earliest Offering Period ending
in the next calendar year, if he or she then is an Eligible Employee. 
  
 (e) Applicable Offering Period. For purposes of calculating the purchase price under Section 8(b), the applicable Offering Period shall be determined as follows: 
  
 (i) Once a Participant is enrolled in the Plan for an Offering Period, such Offering Period shall continue
to apply to him or her until the earliest of: (A) the end of such Offering Period; (B) the end of his or her participation under Subsection (d) above; and (C) re-enrollment in a subsequent Offering Period under Paragraph (ii) below. 
  
 (ii) In the event that the Fair Market Value of Stock on the
first trading day of the Offering Period in which the Participant is enrolled is higher than on the first trading day of any subsequent Offering Period, the Participant shall automatically be re-enrolled for such subsequent Offering Period.

  
 (iii) When a Participant reaches the end of
an Offering Period but his or her participation is to continue, then such Participant shall automatically be re-enrolled for the Offering Period that commences immediately after the end of the prior Offering Period. 
  
 SECTION 5 Employee Contributions. 

 
 (a) Frequency of Payroll Deductions. A Participant may purchase
shares of Stock under the Plan solely by means of payroll deductions; provided, however, that in the initial Accumulation Period, Participants may also purchase shares of Stock by making a lump sum 

  

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cash payment at the end of the Accumulation Period. Payroll deductions, as designated by the Participant pursuant to Subsection (b) below, shall occur on
each payday during participation in the Plan. 
  
 (b) Amount of
Payroll Deductions. An Eligible Employee shall designate on the enrollment form the portion of his or her Compensation that he or she elects to have withheld for the purchase of Stock. Such portion shall be a whole percentage of the Eligible
Employee’s Compensation, but not less than 1% nor more than 15%. During the initial Accumulation Period, no payroll deduction will be made unless a Participant timely files the proper form with the Company after a registration statement
covering the Stock is filed and effective under the Securities Act of 1933, as amended. 
  
 (c) Changing Withholding Rate. If a Participant wishes to change the rate of payroll withholding, he or she may do so by filing a new enrollment form with the Company at the prescribed location at any time. The
new withholding rate shall be effective as soon as reasonably practicable after such form has been received by the Company. The new withholding rate shall be a whole percentage of the Eligible Employee’s Compensation, but not less than 1% nor
more than 15%. 
  
 (d) Discontinuing Payroll Deductions. If
a Participant wishes to discontinue employee contributions entirely, he or she may do so by filing a new enrollment form with the Company at the prescribed location at any time. Payroll withholding shall cease as soon as reasonably practicable after
such form has been received by the Company. In addition, employee contributions may be discontinued automatically pursuant to Section 9(b). A Participant who has discontinued employee contributions may resume such contributions by filing a new
enrollment form with the Company at the prescribed location. Payroll withholding shall resume as soon as reasonably practicable after such form has been received by the Company. 
  
 (e) Limit on Number of Elections. The Committee may limit the number of elections that a Participant may make under
Subsection (c) or (d) above during any Accumulation Period. 
  
 SECTION 6 Withdrawal From The Plan. 
  
 (a) Withdrawal. A Participant may elect to withdraw from the Plan by filing the prescribed form with the Company at the prescribed location at any time before the last day of an Accumulation Period. In addition, in
the initial Accumulation Period, Participants may be deemed to withdraw from the Plan by declining or failing to remit timely payment to the Company for the shares of Stock. As soon as reasonably practicable thereafter, payroll deductions shall
cease and the entire amount credited to the Participant’s Plan Account shall be refunded to him or her in cash, without interest. No partial withdrawals shall be permitted. 
  
 (b) Re-enrollment After Withdrawal. A former Participant who has withdrawn from the Plan shall not be a Participant
until he or she re-enrolls in the Plan under Section 4(c). Re-enrollment may be effective only at the commencement of an Offering Period. 
  

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 2004 EMPLOYEE STOCK PURCHASE PLAN 
  
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 SECTION 7 Change In Employment Status. 
  
 (a) Termination of Employment. Termination of employment as an
Eligible Employee for any reason, including death, shall be treated as an automatic withdrawal from the Plan under Section 6(a). A transfer from one Participating Company to another shall not be treated as a termination of employment. 
  
 (b) Leave of Absence. For purposes of the Plan, employment shall not
be deemed to terminate when the Participant goes on a military leave, a sick leave or another bona fide leave of absence, if the leave was approved by the Company in writing. Employment, however, shall be deemed to terminate 90 days after the
Participant goes on a leave, unless a contract or statute guarantees his or her right to return to work. Employment shall be deemed to terminate in any event when the approved leave ends, unless the Participant immediately returns to work.

  
 (c) Death. In the event of the Participant’s
death, the amount credited to his or her Plan Account shall be paid to a beneficiary designated by him or her for this purpose on the prescribed form or, if none, to the Participant’s estate. Such form shall be valid only if it was filed with
the Company at the prescribed location before the Participant’s death. 
  
 SECTION 8 Plan Accounts And Purchase Of Shares. 
  
 (a) Plan Accounts. The Company shall maintain a Plan Account on its books in the name of each Participant. Whenever an amount is deducted from the Participant’s Compensation under the Plan, such amount
shall be credited to the Participant’s Plan Account. Amounts credited to Plan Accounts shall not be trust funds and may be commingled with the Company’s general assets and applied to general corporate purposes. No interest shall be
credited to Plan Accounts. 
  
 (b) Purchase Price. The
Purchase Price for each share of Stock purchased at the close of an Accumulation Period shall be the lower of: 
  
 (i) 85% of the Fair Market Value of such share on the last trading day in such Accumulation Period; or 
  
 (ii) 85% of the Fair Market Value of such share on the first
trading day of the applicable Offering Period (as determined under Section 4(e)) or, in the case of the first Offering Period under the Plan, 85% of the price at which one share of Stock is offered to the public in the IPO. 
  
 (c) Number of Shares Purchased. As of the last day of each
Accumulation Period, each Participant shall be deemed to have elected to purchase the number of shares of Stock calculated in accordance with this Subsection (c), unless the Participant has previously elected to withdraw from the Plan in accordance
with Section 6(a). The amount then in the Participant’s Plan Account shall be divided by the Purchase Price, and the number of shares that results shall be purchased from the Company with the funds in the Participant’s Plan Account. The
foregoing 

  

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 2004 EMPLOYEE STOCK PURCHASE PLAN 
  
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notwithstanding, no Participant shall purchase more than [833] shares of Stock (which reflects a one-for-three (1:3) reverse split of the stock effective on
November 12, 2004) with respect to any Accumulation Period nor more than the amounts of Stock set forth in Section 9(b) and Section 14(a). Any fractional share, as calculated under this Subsection (c), shall be rounded down to the next lower whole
share. For each Accumulation Period, the Committee shall have the authority to establish additional limits on the number of shares purchasable by each Participant or by all Participants in the aggregate. 
  
 (d) Available Shares Insufficient. In the event that the aggregate
number of shares that all Participants elect to purchase during an Accumulation Period exceeds the maximum number of shares remaining available for issuance under Section 14(a), then the number of shares to which each Participant is entitled shall
be determined by multiplying the number of shares available for issuance by a fraction, the numerator of which is the number of shares that such Participant has elected to purchase and the denominator of which is the number of shares that all
Participants have elected to purchase. 
  
 (e) Issuance of
Stock. Certificates representing the shares of Stock purchased by a Participant under the Plan shall be issued to him or her as soon as reasonably practicable after the close of the applicable Accumulation Period, except that the Committee may
determine that such shares shall be held for each Participant’s benefit by a broker designated by the Committee (unless the Participant has elected that certificates be issued to him or her). Shares may be registered in the name of the
Participant or jointly in the name of the Participant and his or her spouse as joint tenants with right of survivorship or as community property. 
  
 (f) Unused Cash Balances. An amount remaining in the Participant’s Plan Account that represents the Purchase Price for any fractional share
shall be carried over in the Participant’s Plan Account to the next Accumulation Period. Any amount remaining in the Participant’s Plan Account that represents the Purchase Price for whole shares that could not be purchased by reason of
Subsection (c) above, Section 9(b) or Section 14(a) shall be refunded to the Participant in cash, without interest. 
  
 (g) Stockholder Approval. Any other provision of the Plan notwithstanding, no shares of Stock shall be purchased under the Plan unless and until
the Company’s stockholders have approved the adoption of the Plan. 
  
 SECTION 9 Limitations On Stock Ownership. 
  
 (a) Five Percent Limit. Any other provision of the Plan notwithstanding, no Participant shall be granted a right to purchase Stock under the Plan if such Participant, immediately after his or her election to
purchase such Stock, would own stock possessing 5% or more of the total combined voting power or value of all classes of stock of the Company or any parent or Subsidiary of the Company. For purposes of this Subsection (a), the following rules shall
apply: 
  
 (i) Ownership of stock shall be
determined after applying the attribution rules of section 424(d) of the Code; 
  

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 2004 EMPLOYEE STOCK PURCHASE PLAN 
  
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 (ii) Each Participant shall be deemed to own any stock that he or she has a right or
option to purchase under this or any other plan; and 
  
 (iii) Each Participant shall be deemed to have the right to purchase up to the maximum number of shares of Stock that may be purchased by a Participant under this Plan under the individual limit specified in Section 8(c) with respect to
each Accumulation Period. 
  
 (b) Dollar Limit. Any other
provision of the Plan notwithstanding, no Participant shall purchase Stock with a Fair Market Value in excess of the following limit: 
  
 (i) In the case of Stock purchased during an Offering Period that commenced in the current calendar year, the limit shall be equal to (A)
$25,000 minus (B) the Fair Market Value of the Stock that the Participant previously purchased in the current calendar year (under this Plan and all other employee stock purchase plans of the Company or any parent or Subsidiary of the Company).

  
 (ii) In the case of Stock purchased during an
Offering Period that commenced in the immediately preceding calendar year, the limit shall be equal to (A) $50,000 minus (B) the Fair Market Value of the Stock that the Participant previously purchased (under this Plan and all other employee stock
purchase plans of the Company or any parent or Subsidiary of the Company) in the current calendar year and in the immediately preceding calendar year. 
  
 (iii) In the case of Stock purchased during an Offering Period that commenced in the second preceding calendar year, the limit shall be
equal to (A) $75,000 minus (B) the Fair Market Value of the Stock that the Participant previously purchased (under this Plan and all other employee stock purchase plans of the Company or any parent or Subsidiary of the Company) in the current
calendar year and in the two preceding calendar years. 
  
 For
purposes of this Subsection (b), the Fair Market Value of Stock shall be determined in each case as of the beginning of the Offering Period in which such Stock is purchased. Employee stock purchase plans not described in section 423 of the Code
shall be disregarded. If a Participant is precluded by this Subsection (b) from purchasing additional Stock under the Plan, then his or her employee contributions shall automatically be discontinued and shall resume at the beginning of the earliest
Accumulation Period ending in the next calendar year (if he or she then is an Eligible Employee). 
  
 SECTION 10 Rights Not Transferable. 
  
 The rights of any Participant under the Plan, or any Participant’s interest in any Stock or moneys to which he or she
may be entitled under the Plan, shall not be transferable by voluntary or involuntary assignment or by operation of law, or in any other manner other than by beneficiary designation or the laws of descent and distribution. If a Participant in any
manner 

  

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attempts to transfer, assign or otherwise encumber his or her rights or interest under the Plan, other than by beneficiary designation or the laws of descent
and distribution, then such act shall be treated as an election by the Participant to withdraw from the Plan under Section 6(a). 
  
 SECTION 11 No Rights As An Employee. 
  
 Nothing in the Plan or in any right granted under the Plan shall confer upon the Participant any right to continue in the
employ of a Participating Company for any period of specific duration or interfere with or otherwise restrict in any way the rights of the Participating Companies or of the Participant, which rights are hereby expressly reserved by each, to
terminate his or her employment at any time and for any reason, with or without cause. 
  
 SECTION 12 No Rights As A Stockholder. 
  
 A Participant shall have no rights as a stockholder with respect to any shares of Stock that he or she may have a right to
purchase under the Plan until such shares have been purchased on the last day of the applicable Offering Period. 
  
 SECTION 13 Securities Law Requirements. 
  
 Shares of Stock shall not be issued under the Plan unless the issuance and delivery of such shares comply with (or are
exempt from) all applicable requirements of law, including (without limitation) the Securities Act of 1933, as amended, the rules and regulations promulgated thereunder, state securities laws and regulations, and the regulations of any stock
exchange or other securities market on which the Company’s securities may then be traded. 
  
 SECTION 14 Stock Offered Under The Plan. 
  
 (a) Authorized Shares. The maximum aggregate number of shares of Stock available for purchase under the Plan is
333,333 shares, plus an annual increase to be added on the first day of each fiscal year during the first ten years of the Plan, beginning January 1, 2005 and ending January 1, 2014, in an amount equal to the lesser of (i) 400,000
shares, (ii) 1% of the outstanding shares of stock on the last day of the immediately preceding fiscal year, or (iii) an amount determined by the Board. The aggregate number of shares available for purchase under the Plan shall at all times
be subject to adjustment pursuant to Section 14 and reflect a one-for-three (1:3) reverse split of the stock effected on November 12, 2004. 
  
 (b) Antidilution Adjustments. The aggregate number of shares of Stock offered under the Plan, the individual Participant share limitation described
in Section 8(c) and the price of shares that any Participant has elected to purchase shall be adjusted proportionately by the Committee for any increase or decrease in the number of outstanding shares of Stock resulting from a subdivision or
consolidation of shares or the payment of a stock dividend, any other increase or decrease in such shares effected without receipt or payment of consideration by the Company, the distribution of the shares of a Subsidiary to the Company’s
stockholders or a similar event. 
  

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 (c) Reorganizations. Any other provision of the Plan notwithstanding, immediately prior to the
effective time of a Corporate Reorganization, the Offering Period then in progress shall terminate and shares shall be purchased pursuant to Section 8, unless the Plan is assumed by the surviving corporation or its parent corporation pursuant to the
plan of merger or consolidation. The Plan shall in no event be construed to restrict in any way the Company’s right to undertake a dissolution, liquidation, merger, consolidation or other reorganization. 
  
 SECTION 15 Amendment Or Discontinuance.

  
 The Board shall have the right to amend, suspend or terminate
the Plan at any time and without notice. Except as provided in Section 14, any increase in the aggregate number of shares of Stock to be issued under the Plan shall be subject to approval by a vote of the stockholders of the Company. In addition,
any other amendment of the Plan shall be subject to approval by a vote of the stockholders of the Company to the extent required by an applicable law or regulation. 
  
 SECTION 16 Execution. 
  
 To record the adoption of the Plan by the Board, the Company has caused its authorized officer to execute the same.

  

			
	 PORTALPLAYER, INC.

		
	By	 	 
	 Name
	 	 
	 Title
	 	 

  

 PORTALPLAYER, INC. 
 2004 EMPLOYEE STOCK PURCHASE PLAN 
  
 -10- 

			
	 PORTALPLAYER, INC.
 2004 EMPLOYEE STOCK PURCHASE
 PLAN
(“ESPP”)
	 	 ENROLLMENT/
 CHANGE FORM

  

					
	SECTION 1:	  	 	  	 AND
 COMPLETE

	 ACTIONS
	  	CHECK DESIRED ACTION:	  	SECTIONS:
	 	 	 
	 	  	 ̈        Enroll in the ESPP	  	2 + 3 + 4 + 6
	 	 	 
	 	  	 ̈        Change Contribution
Percentage	  	2 + 4 + 6
	 	 	 
	 	  	 ̈        Discontinue Contributions	  	2 + 5 + 6
	 SECTION
2:
  
	  	 Name:
                                        
                                        
                                        
                  
  
	  	Department:
	 	 	 
	 PERSONAL
 DATA
	  	 Home Address:
                                        
                                        
                                        
 
  
                                       
                                        
                                        
                                  
 Social Security Number:
  ̈ ̈ ̈- ̈ ̈- ̈ ̈ ̈ ̈
	  	                        
	 	 
	 SECTION 3:
  
 ENROLL
	  	 I hereby elect to participate in the ESPP,
effective as soon as the ESPP permits. I elect to purchase shares of the Common Stock of PortalPlayer, Inc. (the “Company”) pursuant to the ESPP. I understand that the stock certificate(s) for the shares purchased on my behalf will be
issued in street name and deposited directly into my brokerage account. I hereby agree to establish an account with eTrade for this purpose and to sign all required forms.
  
 My participation will continue as long as I remain eligible, unless I withdraw from the ESPP by filing a new Enrollment/Change Form with the
Company. I understand that I must notify the Company of any disposition of shares purchased under the ESPP.

  

			
	 SECTION 4:
  
 ELECT CONTRIBUTION
PERCENTAGE
	  	 I hereby authorize the Company to withhold ___% of my
compensation (as defined in the ESPP) from each of my paychecks as long as I continue to participate in the ESPP. That amount will be applied to the purchase of shares of the Company’s Common Stock pursuant to the ESPP. The percentage must
be a multiple of 1%, up to a maximum of 15%.
  
 Note: You may change your contribution percentage only once per Accumulation Period. Each change will become effective as soon as reasonably practicable after the Company receives the
form.

	 	 
	 SECTION 5:
  
 DISCONTINUE CONTRIBUTIONS
	  	 I hereby elect to stop my contributions under the ESPP, effective as soon as reasonably
practicable after the Company receives this form. The contributions that I have made to date during this Accumulation Period should be applied as follows:
  
  ̈        Purchase shares of the Company’s Common Stock at the end of the period.
  
  ̈        Refund all contributions to me in cash, without interest. I understand that I cannot resume participation until the start of the next Offering Period.

	 	 
	 SECTION 6:
  
 ACKNOWLEDGEMENT AND
SIGNATURE
	  	 I acknowledge that I have received a copy of the
Summary and Prospectus summarizing the major features of the ESPP. I have read the Summary and Prospectus and this form and hereby agree to be bound by the terms of the ESPP.
  
 Signature: _________________________
  
 Date:         _________________________

  

 2 

 PORTALPLAYER, INC. 
 2004 EMPLOYEE STOCK PURCHASE PLAN 
  
 BENEFICIARY DESIGNATION 
  
 Name:    ____________________________________________________________________________________ 
  
 Social Security Number:
                -            -         
        PortalPlayer, Inc. 2004 Employee Stock Purchase Plan (the “Plan”) is to be paid to those beneficiaries designated below who survive me, subject to the provisions of the Plan. The payment is to
be made as follows [check one box only]: 
  

	 ̈	Entirely to the spouse to whom I am currently married. [Please provide name and address below.] If my spouse does not survive me, payment is to be made to [check one box
only]: 

  

	 	 ̈	All of my children who survive me in equal shares. 

  

	 	 ̈	All of the persons named below who survive me in equal shares. 

  

	 ̈	To all of my children who survive me in equal shares. 

 [Please provide names and addresses below.] 
  

	 ̈	To all of my siblings who survive me in equal shares. 

 [Please provide names and addresses below.] 
  

	 ̈	Entirely to the first person named below who survives me. 

  

	 ̈	To all of the persons named below who survive me in equal shares. 

  

	 ̈	Other [please use a separate sheet if necessary]: 

  
 _______________________________________________________________________________________ 
  
 _______________________________________________________________________________________ 
  
 _______________________________________________________________________________________ 
  
 _______________________________________________________________________________________ 
  
 _______________________________________________________________________________________ 
  
 _______________________________________________________________________________________ 
  
 The term “children” means natural or legally adopted children but excludes stepchildren (if not adopted). The term “siblings” means brothers and sisters, whether natural or adoptive, but excludes
stepbrothers and stepsisters. 
  

 1 

 The names and addresses of my beneficiaries are as follows [please use a separate sheet if
necessary]: 
  

					
			
	1.	  	 Name:
	  	 Relationship:

			
	 	  	 Address:
	  	 Email:

			
	2.	  	 Name:
	  	 Relationship:

			
	 	  	 Address:
	  	 Email:

			
	3.	  	 Name:
	  	 Relationship:

			
	 	  	 Address:
	  	 Email:

			
	4.	  	 Name:
	  	 Relationship:

			
	 	  	 Address:
	  	 Email:

			
	5.	  	 Name:
	  	 Relationship:

			
	 	  	 Address:
	  	 Email:

  
 This beneficiary designation is to
take effect on the date when the person responsible for administering the Plan at PortalPlayer, Inc. receives it. It supersedes any prior designations that I may have made under the Plan. 
  

			
	                        
        , 200    	 	 
	 	 	(Signature

  

	Please	file this form with
                                        
                            . 

 
 Received by:
                                        
                                        
          
  
 Date of receipt:
                             , 200     
  

 2Form of Sixth Supplemental Indenture

 Exhibit 4.2 
  
 CONSOLIDATED NATURAL GAS COMPANY 
 Issuer 
  
 THE BANK OF NEW YORK

 Trustee 
  

  
 Sixth Supplemental Indenture 
  
 Dated as of November 1, 2004 
  

  
 $400,000,000 
  
 2004 Series A 5.0% Senior Notes 
  
 Due 2014 

 TABLE OF CONTENTS1 
  

					
	 ARTICLE I 2004 SERIES A 5.0% SENIOR NOTES
	  	1
			
	 SECTION 101.
	  	 Establishment.
	  	1
	 SECTION 102.
	  	 Definitions.
	  	2
	 SECTION 103.
	  	 Payment of Principal and Interest.
	  	3
	 SECTION 104.
	  	 Denominations.
	  	4
	 SECTION 105.
	  	 Global Securities.
	  	4
	 SECTION 106.
	  	 Optional Redemption.
	  	5
	 SECTION 107.
	  	 Sinking Fund.
	  	6
	 SECTION 108.
	  	 Additional Interest.
	  	6
	 SECTION 109.
	  	 Paying Agent.
	  	6
		
	 ARTICLE II MISCELLANEOUS PROVISIONS
	  	6
			
	 SECTION 201.
	  	 Recitals by Company.
	  	6
	 SECTION 202.
	  	 Ratification and Incorporation of Original Indenture.
	  	6
	 SECTION 203.
	  	 Executed in Counterparts.
	  	6
	 SECTION 204.
	  	 Assignment.
	  	6

	1	This Table of Contents does not constitute part of the Indenture or have any bearing upon the interpretation of any of its terms and provisions.

 THIS SIXTH SUPPLEMENTAL INDENTURE is made as of the 1st day of November, 2004, by and between
CONSOLIDATED NATURAL GAS COMPANY, a Delaware corporation, having its principal office at 120 Tredegar Street, Richmond, Virginia 23219 (the “Company”), and THE BANK OF NEW YORK, as Trustee (herein called the “Trustee”).

  
 W I T N E S S E T H: 
  
 WHEREAS, the Company has heretofore entered into an Indenture, dated as of
April 1, 2001 (the “Original Indenture”), as heretofore supplemented and amended, with Bank One Trust Company, National Association (“Bank One”); 
  
 WHEREAS, Bank One has heretofore resigned as trustee under the Original Indenture, and the Company has appointed The Bank of
New York as Trustee under the Original Indenture; 
  
 WHEREAS, the
Original Indenture is incorporated herein by this reference and the Original Indenture, as heretofore supplemented and amended and as further supplemented by this Sixth Supplemental Indenture, is herein called the “Indenture”; 

 
 WHEREAS, under the Original Indenture, a new series of Securities may at
any time be established in accordance with the provisions of the Original Indenture and the terms of such series may be described by a supplemental indenture executed by the Company and the Trustee; 
  
 WHEREAS, the Company proposes to create under the Indenture a series of
Securities; 
  
 WHEREAS, additional Securities of other series
hereafter established, except as may be limited in the Original Indenture as at the time supplemented and modified, may be issued from time to time pursuant to the Indenture as at the time supplemented and modified; and 
  
 WHEREAS, all conditions necessary to authorize the execution and delivery of
this Sixth Supplemental Indenture and to make it a valid and binding obligation of the Company have been done or performed. 
  
 NOW, THEREFORE, in consideration of the agreements and obligations set forth herein and for other good and valuable consideration, the sufficiency of
which is hereby acknowledged, the parties hereto hereby agree as follows: 
  
 ARTICLE I 
 2004 SERIES A 5.0% SENIOR NOTES 
  
 SECTION 101. Establishment. There is hereby established a new series
of Securities to be issued under the Indenture, to be designated as the Company’s 2004 Series A 5.0% Senior Notes Due 2014 (the “Series A Senior Notes”). 
  
 There are to be initially authenticated and delivered $400,000,000 principal amount of Series A Senior Notes, and such
principal amount of the Series A Senior Notes may be increased 
  

 1 

 from time to time pursuant to Section 301 of the Original Indenture. All Series A Senior Notes need not be issued at the
same time, and such series may be reopened at any time, without the consent of any Holder, for issuances of additional Series A Senior Notes. Any such additional Series A Senior Notes will have the same interest rate, maturity and other terms as
those initially issued. Further Series A Senior Notes may be also authenticated and delivered as provided by Sections 304, 305, 306, 905, 1107 or 1305 of the Original Indenture. 
  
 The Series A Senior Notes shall be issued in definitive fully registered form without coupons, in substantially the form set
out in Exhibit A hereto. The entire initially issued principal amount of the Series A Senior Notes shall initially be evidenced by one or more certificates issued to Cede & Co., as nominee for The Depository Trust Company. 
  
 The form of the Trustee’s Certificate of Authentication for the Series A
Senior Notes shall be in substantially the form set forth in Exhibit B hereto. 
  
 Each Series A Senior Note shall be dated the date of authentication thereof and shall bear interest from the date of original issuance thereof or from the most recent Interest Payment Date to which interest has been
paid or duly provided for. 
  
 SECTION 102. Definitions.
The following defined terms used herein shall, unless the context otherwise requires, have the meanings specified below. Capitalized terms used herein for which no definition is provided herein shall have the meanings set forth in the Original
Indenture. 
  
 “Adjusted Treasury Rate” means, with
respect to any Redemption Date: (i) the yield, under the heading which represents the average for the immediately preceding week, appearing in the most recently published statistical release designated “H.15(519)” or any successor
publication which is published weekly by the Board of Governors of the Federal Reserve System and which establishes yields on actively traded United States Treasury securities adjusted to constant maturity under the caption “Treasury Constant
Maturities,” for the maturity corresponding to the Comparable Treasury Issue (if no maturity is within three months before or after the Remaining Life, yields for the two published maturities most closely corresponding to the Comparable
Treasury Issue shall be determined and the Adjusted Treasury Rate shall be interpolated or extrapolated from such yields on a straight line basis, rounding to the nearest month); or (ii) if such release (or any successor release) is not published
during the week preceding the calculation date or does not contain such yields, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue
(expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date. 
  
 “Business Day” means a day other than (i) a Saturday or a Sunday, (ii) a day on which banks in New York, New York are authorized or obligated by
law or executive order to remain closed or (iii) a day on which the Corporate Trust Office is closed for business. 
  
 “Comparable Treasury Issue” means the United States Treasury security selected by an Independent Investment Banker as having a maturity
comparable to the remaining term of the 
  

 2 

 Series A Senior Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary
financial practice, in pricing new issues of corporate debt securities of comparable maturity to the Remaining Life. 
  
 “Comparable Treasury Price” means (i) the average of five Reference Treasury Dealer Quotations for such Redemption Date, after excluding the
highest and lowest Reference Treasury Dealer Quotations, or (ii) if the Independent Investment Banker obtains fewer than five such Reference Treasury Dealer Quotations, the average of all such quotations. 
  
 “Independent Investment Banker” means any of ABN AMRO Incorporated,
J.P. Morgan Securities Inc. or UBS Securities LLC and their respective successors, as selected by the Company, or if all of those firms are unwilling or unable to serve as such, an independent investment and banking institution of national standing
appointed by the Company. 
  
 “Interest Payment Dates”
means June 1 and December 1 of each year, commencing on June 1, 2005. 
  
 “Original Issue Date” means November 18, 2004. 
  
 “Reference Treasury Dealer” means: (i) each of ABN AMRO Incorporated, J.P. Morgan Securities Inc. and UBS Securities LLC and their successors; provided that, if any of the foregoing ceases to be a primary U.S. Government
securities dealer in the United States (a “Primary Treasury Dealer”), the Company shall substitute another Primary Treasury Dealer; and (ii) up to two other Primary Treasury Dealers selected by the Company. 
  
 “Reference Treasury Dealer Quotations” means, with respect to each
Reference Treasury Dealer and any Redemption Date, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted
in writing to the Independent Investment Banker at 5:00 p.m., New York City time, on the third Business Day preceding such Redemption Date. 
  
 “Regular Record Date” means, with respect to each Interest Payment Date, the close of business on the Business Day preceding such Interest
Payment Date; provided, that with respect to Series A Senior Notes that are not represented by one or more Global Securities, the Regular Record Date shall be the close of business on the 15th calendar day (whether or not a Business Day)
preceding such Interest Payment Date. 
  
 “Remaining
Life” means the remaining term of the Series A Senior Notes. 
  
 “Stated Maturity” means December 1, 2014. 
  
 SECTION 103. Payment of Principal and Interest. 
 The principal of the Series A Senior Notes shall be due at the Stated Maturity (unless
earlier redeemed). The unpaid principal amount of the Series A Senior Notes shall bear interest at the rate of 5.0% per annum until paid or duly provided for, such interest to accrue from the Original Issue Date or from the most recent Interest
Payment Date to which interest has been paid or duly provided for. Interest shall be paid semi-annually in arrears on each Interest Payment Date to the Person in whose name the Series A 
  

 3 

 Senior Notes are registered on the Regular Record Date for such Interest Payment Date; provided that interest payable at
the Stated Maturity of principal as provided herein will be paid to the Person to whom principal is payable. Any such interest that is not so punctually paid or duly provided for will forthwith cease to be payable to the Holders on such Regular
Record Date and may either be paid to the Person or Persons in whose name the Series A Senior Notes are registered at the close of business on a Special Record Date for the payment of such defaulted interest to be fixed by the Trustee (in accordance
with Section 307 of the Original Indenture), notice whereof shall be given to Holders of the Series A Senior Notes not less than ten (10) days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with
the requirements of any securities exchange, if any, on which the Series A Senior Notes may be listed, and upon such notice as may be required by any such exchange, all as more fully provided in the Original Indenture. 
  
 Payments of interest on the Series A Senior Notes will include interest
accrued to but excluding the respective Interest Payment Dates. Interest payments for the Series A Senior Notes shall be computed and paid on the basis of a 360-day year of twelve 30-day months. If any date on which interest is payable on the Series
A Senior Notes is not a Business Day, then payment of the interest payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or payment in respect of any such delay), in each case with the same
force and effect as if made on the date the payment was originally payable. 
  
 Payment of the principal and interest on the Series A Senior Notes shall be made at the office of the Paying Agent in such coin or currency of the United States of America as at the time of payment is legal tender for
payment of public and private debts, with any such payment that is due at the Stated Maturity of any Series A Senior Notes being made upon surrender of such Series A Senior Notes to the Paying Agent. Payments of interest (including interest on any
Interest Payment Date) will be made, subject to such surrender where applicable, at the option of the Company, (i) by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register or (ii) by wire
transfer at such place and to such account at a banking institution in the United States as may be designated in writing to the Trustee at least sixteen (16) days prior to the date for payment by the Person entitled thereto. If any date on which
principal and interest is payable on the Series A Senior Notes is not a Business Day, then payment of the principal and interest payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or payment
in respect of any such delay), in each case with the same force and effect as if made on the date the payment was originally payable. 
  
 SECTION 104. Denominations. The Series A Senior Notes may be issued in denominations of $1,000, or any integral multiple thereof. 
  
 SECTION 105. Global Securities. The Series A Senior Notes will be
issued initially in the form of one or more Global Securities registered in the name of the Depositary (which shall be The Depository Trust Company) or its nominee. Except under the limited circumstances described below, Series A Senior Notes
represented by such Global Securities will not be exchangeable for, and will not otherwise be issuable as, Series A Senior Notes in 
  

 4 

 definitive form. The Global Securities described above may not be transferred except by the Depositary to a nominee of
the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary or to a successor Depositary or its nominee. 
  
 Owners of beneficial interests in such a Global Security will not be considered the Holders thereof for any purpose under the Indenture, and no Global
Security representing a Series A Senior Note shall be exchangeable, except for another Global Security of like denomination and tenor to be registered in the name of the Depositary or its nominee or to a successor Depositary or its nominee or except
as described below. The rights of Holders of such Global Security shall be exercised only through the Depositary. 
  
 A Global Security shall be exchangeable for Series A Senior Notes registered in the names of persons other than the Depositary or its nominee only if (i)
the Depositary notifies the Company that it is unwilling or unable to continue as a Depositary for such Global Security and no successor Depositary shall have been appointed by the Company within 90 days of receipt by the Company of such
notification, or if at any time the Depositary ceases to be a clearing agency registered under the Exchange Act at a time when the Depositary is required to be so registered to act as such Depositary and no successor Depositary shall have been
appointed by the Company within 90 days after it becomes aware of such cessation, or (ii) subject to the procedures of the Depository, the Company in its sole discretion determines that such Global Security shall be so exchangeable. Any Global
Security that is exchangeable pursuant to the preceding sentence shall be exchangeable for Series A Senior Notes registered in such names as the Depositary shall direct. 
  
 SECTION 106. Optional Redemption. The Series A Senior Notes are redeemable, in whole or in part, at any time, and at
the option of the Company, at a Redemption Price equal to the greater of: 
  
 (i) 100% of the principal amount of Series A Senior Notes then Outstanding to be so redeemed, or 
  
 (ii) the sum of the present values of the remaining scheduled payments of principal and interest thereon (not including any portion of such payments of
interest accrued as of the Redemption Date) discounted to the Redemption Date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate, plus 20 basis points, as calculated by an Independent
Investment Banker, 
  
 plus, in either of the above cases, accrued
and unpaid interest thereon to the Redemption Date. 
  
 Unless the
Company defaults in the payment of the Redemption Price, on and after the Redemption Date, interest will cease to accrue on the Series A Senior Notes or portions thereof called for redemption. 
  

 5 

 The Adjusted Treasury Rate shall be calculated on the third Business Day preceding the Redemption Date.

  
 In the event of the redemption of the Series A Senior Notes in
part only, a new Series A Senior Note or Notes for the unredeemed portion will be issued in the name or names of the Holders thereof upon surrender thereof. 
  
 Notice of redemption shall be given as provided in Section 1104 of the Original Indenture. 
  
 SECTION 107. Sinking Fund. The Series A Senior Notes shall not have a sinking fund. 
  
 SECTION 108. Additional Interest. Any principal of and installment of
interest on the Series A Senior Notes that is overdue shall bear interest at the rate of 5.0% (to the extent that the payment of such interest shall be legally enforceable), from the dates such amounts are due until they are paid or made available
for payment, and such interest shall be payable on demand. 
  
 SECTION 109. Paying Agent. The Trustee shall initially serve as Paying Agent with respect to the Series A Senior Notes, with the Place of Payment initially being the Corporate Trust Office of the Trustee. 
  
 ARTICLE II 
 MISCELLANEOUS PROVISIONS 
  
 SECTION 201. Recitals by Company. The recitals in this Sixth Supplemental Indenture are made by the Company only and not by the Trustee, and all of the provisions contained in the Original Indenture in respect
of the rights, privileges, immunities, powers and duties of the Trustee shall be applicable in respect of the Series A Senior Notes and of this Sixth Supplemental Indenture as fully and with like effect as if set forth herein in full. 
  
 SECTION 202. Ratification and Incorporation of Original Indenture. As
supplemented hereby, the Original Indenture is in all respects ratified and confirmed, and the Original Indenture and this Sixth Supplemental Indenture shall be read, taken and construed as one and the same instrument. 
  
 SECTION 203. Executed in Counterparts. This Sixth Supplemental
Indenture may be executed in several counterparts, each of which shall be deemed to be an original, and such counterparts shall together constitute but one and the same instrument. 
  
 SECTION 204. Assignment. The Company shall have the right at all times to assign any of its rights or obligations
under the Indenture with respect to the Series A Senior Notes to a direct or indirect wholly-owned subsidiary of the Company; provided that, in the 
  

 6 

 event of any such assignment, the Company shall remain primarily liable for the performance of all such obligations. The
Indenture may also be assigned by the Company in connection with a transaction described in Article Eight of the Original Indenture. 
  

 7 

 IN WITNESS WHEREOF, each party hereto has caused this instrument to be signed in its name and behalf by
its duly authorized officer, all as of the day and year first above written. 
  

			
	CONSOLIDATED NATURAL GAS COMPANY
		
	By:	 	  

	Name:	 	G. Scott Hetzer
	Title:	 	Senior Vice President and Treasurer
	
	THE BANK OF NEW YORK
	as Trustee
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

 8 

 EXHIBIT A 
  

FORM OF 
 2004 SERIES A 5.0% SENIOR
NOTE 
 DUE 2014 
  
 [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) TO THE ISSUER
OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS
MADE TO CEDE & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]** 
  
 [THIS SERIES A SENIOR NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SERIES A SENIOR NOTE MAY NOT BE
EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SERIES A SENIOR NOTE IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED
CIRCUMSTANCES DESCRIBED IN THE INDENTURE.]** 
  

  
 CONSOLIDATED NATURAL 
 GAS COMPANY 
  

  
 $400,000,000 
 2004 SERIES A 5.0% SENIOR NOTE 
 DUE 2014 
  

			
	 No. R-
	  	                    CUSIP No.
            

  
 Consolidated Natural
Gas Company, a corporation duly organized and existing under the laws of Delaware (herein called the “Company”, which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to
pay to [Cede & Co.] **, or registered assigns (the “Holder”), the principal sum of
                     Dollars 

	**	Insert in Global Securities. 

 ($                    ) on December 1, 2014 and to pay interest thereon from November 18, 2004 or from the most recent Interest
Payment Date to which interest has been paid or duly provided for, semi-annually in arrears on June 1 and December 1 of each year, commencing on June 1, 2005, at the rate of 5.0% per annum, until the principal hereof is paid or made available for
payment, provided that any principal, and any such installment of interest, that is overdue shall bear interest at the rate of 5.0% per annum (to the extent that the payment of such interest shall be legally enforceable), from the dates such amounts
are due until they are paid or made available for payment, and such interest shall be payable on demand. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to
the Person in whose name this Series A Senior Note (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the close of business on the Business Day preceding such
Interest Payment Date, provided, that with respect to Series A Senior Notes that are not represented by one or more Global Securities, the Regular Record Date shall be the close of business on the 15th calendar day (whether or not a Business
Day) next preceding such Interest Payment Date; and provided further, that interest payable at the Stated Maturity of principal will be paid to the Person to whom principal is payable. Any such interest not so punctually paid or duly provided
for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Series A Senior Note (or one or more Predecessor Securities) is registered at the close of business on a Special
Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Series A Senior Notes not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful
manner not inconsistent with the requirements of any securities exchange on which the Series A Senior Notes may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture. 
  
 Payment of the principal of and any such interest on this Series A Senior
Note will be made at the office of the Paying Agent, in the Borough of Manhattan, City and State of New York, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts,
with any such payment that is due at the Stated Maturity of any Series A Senior Note being made upon surrender of such Series A Senior Note to such office or agency; provided, however, that at the option of the Company payment of interest, subject
to such surrender where applicable, may be made (i) by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register or (ii) by wire transfer at such place and to such account at a banking
institution in the United States as may be designated in writing to the Trustee at least sixteen (16) days prior to the date for payment by the Person entitled thereto. 
  
 Reference is hereby made to the further provisions of this Series A Senior Note set forth on the reverse hereof, which
further provisions shall for all purposes have the same effect as if set forth at this place. 
  

 2 

 Unless the certificate of authentication hereon has been executed by the Trustee referred to on the
reverse hereof by manual signature, this Series A Senior Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 
  
 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 
  

					
	Dated:	 	Consolidated Natural Gas Company
			
	 	 	By:	 	  

	 	 	Name:	 	  

	 	 	Title:	 	  

  

 3 

 [REVERSE OF SERIES A SENIOR NOTE] 
  
 This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”),
issued and to be issued in one or more series under an Indenture, dated as of April 1, 2001, as heretofore supplemented and amended and as further supplemented by a Sixth Supplemental Indenture dated as of November 1, 2004 (collectively, as amended
or supplemented from time to time, herein called the “Indenture”, which term shall have the meaning assigned to it in such instrument), between the Company and The Bank of New York, successor trustee to Bank One Trust Company, National
Association, as Trustee (herein called the “Trustee”, which term includes any successor trustee under the Indenture), and reference is hereby made to the Indenture for a statement of the respective rights, limitations of rights, duties and
immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. This Security is one of the series designated on the face hereof (the
“Series A Senior Notes”) which is unlimited in aggregate principal amount. 
  
 The Series A Senior Notes are redeemable, in whole or in part, at any time, in the manner and with the effect provided in the Indenture. 
  
 If an Event of Default with respect to Series A Senior Notes shall occur and be continuing, the principal of the Series A
Senior Notes may be declared due and payable in the manner and with the effect provided in the Indenture. 
  
 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the
Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in principal amount of the Securities at the time
Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all
Securities of such series, to waive certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Series A Senior Note shall be conclusive and binding upon such Holder and upon all future Holders
of this Series A Senior Note and of any Series A Senior Note issued upon the registration of transfer hereof or in exchange therefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Series A Senior Note.

  
 As provided in and subject to the provisions of the Indenture,
the Holder of this Series A Senior Note shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously
given the Trustee written notice of a continuing Event of Default with respect to the Series A Senior Notes, the Holders of not less than a majority in principal amount of the Series A Senior Notes at the time Outstanding shall have made written
request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the 
  

 4 

 Trustee reasonable indemnity, and the Trustee shall not have received from the Holders of a majority in principal amount
of Series A Senior Notes at the time Outstanding a direction inconsistent with such request, and shall have failed to institute any such proceeding for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not
apply to any suit instituted by the Holder of this Series A Senior Note for the enforcement of any payment of principal hereof or premium, if any, or interest hereon on or after the respective due dates expressed or provided for herein. 

 
 No reference herein to the Indenture and no provision of this Series A
Senior Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of, premium, if any, and interest on this Series A Senior Note at the times, place and rate, and in the
coin or currency, herein prescribed. 
  
 As provided in the
Indenture and subject to certain limitations therein set forth, the transfer of this Series A Senior Note is registrable in the Security Register, upon surrender of this Series A Senior Note for registration of transfer at the office or agency of
the Company in any place where the principal of, premium, if any, and interest on this Series A Senior Note are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security
Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Series A Senior Notes and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued
to the designated transferee or transferees. 
  
 The Series A
Senior Notes are issuable only in registered form without coupons in denominations of $1,000 and any integral multiple thereof. As provided in the Indenture and subject to certain limitations therein set forth, Series A Senior Notes are exchangeable
for a like aggregate principal amount of Series A Senior Notes having the same Stated Maturity and of like tenor of any authorized denominations as requested by the Holder upon surrender of the Series A Senior Note or Series A Senior Notes to be
exchanged at the office or agency of the Company. 
  
 No service
charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 
  
 Prior to due presentment of this Series A Senior Note for registration of
transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Series A Senior Note be overdue, and neither the
Company, the Trustee nor any such agent shall be affected by notice to the contrary. 
  
 All terms used in this Series A Senior Note that are defined in the Indenture shall have the meanings assigned to them in the Indenture. 
  

 5 

 ABBREVIATIONS 
  
 The following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written out in full according to
applicable laws or regulations: 
  

			
	TEN COM —	  	as tenants in common
		
	TEN ENT —	  	as tenants by the entireties
		
	JT TEN —	  	as joint tenants with rights of survivorship and not as tenants in common
		
	UNIF GIFT MIN ACT —	  	                                      
                                   Custodian
	 	  	for
	 	  	(Cust)
		
	 	  	

	 	  	(Minor)
		
	 	  	Under Uniform Gifts to Minors Act of
		
	 	  	

	 	  	(State)

  
 Additional abbreviations may also be
used though not on the above list. 
  

  

 6 

 FOR VALUE RECEIVED, the undersigned hereby sell(s) and transfer(s) unto
                                        
                     (please insert Social Security or other identifying number of assignee). 
  
 ______________________________________________________________________________________________________________________________ 
  
 ______________________________________________________________________________________________________________________________ 
  
 ______________________________________________________________________________________________________________________________ 
  
 PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING POSTAL ZIP CODE OF ASSIGNEE 
  

the within Series A Senior Note and all rights thereunder, hereby irrevocably constituting and appointing 
  
 ______________________________________________________________________________________________________________________________ 

 
 ______________________________________________________________________________________________________________________________ 
  
 ______________________________________________________________________________________________________________________________ 
  
  
 ______________________________________________________________________________________________________________________________ 
  
 ______________________________________________________________________________________________________________________________ 
  
 ______________________________________________________________________________________________________________________________ 
  
 agent to transfer said Series A Senior Note on the books of the Company, with full power of substitution in the premises. 
  
 Dated:
                         ,             

  
 ______________________________________ 
  
 NOTICE: The signature to this assignment must correspond with the name as written upon the
face of the within instrument in every particular without alteration or enlargement, or any change whatever. 
  

 7 

 EXHIBIT B 
 CERTIFICATE OF AUTHENTICATION 
  
 This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 
  

					
	Dated:	 	THE BANK OF NEW YORK,
	 	 	as Trustee
			
	 	 	By:	 	  

	 	 	 	 	Authorized Signatory

  

 8

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