Document:

exv4w2

Exhibit
4.2

NEWELL RUBBERMAID INC.

as Issuer

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.

as Trustee

 

Supplemental Indenture

Dated as of March 30, 2009

Supplemental to Indenture

Dated as of November 1, 1995

 

5.50% Convertible Senior Notes due 2014

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 
	 	 	 	 	Page
	ARTICLE 1

	DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

	 
	 	 	 	 	 	 
	SECTION 1.01.

	 	Scope of Supplemental Indenture
	 	 	2	 
	SECTION 1.02.

	 	Definitions
	 	 	2	 
	 
	 	 	 	 	 	 
	ARTICLE 2

	THE SECURITIES

	 
	 	 	 	 	 	 
	SECTION 2.01.

	 	Title and Terms; Payments
	 	 	8	 
	SECTION 2.02.

	 	Book-Entry Provisions for Global Notes
	 	 	9	 
	SECTION 2.03.

	 	CUSIP Numbers
	 	 	10	 
	SECTION 2.04.

	 	Reporting Requirement
	 	 	10	 
	 
	 	 	 	 	 	 
	ARTICLE 3

	FUNDAMENTAL CHANGES AND PURCHASES THEREUPON

	 
	 	 	 	 	 	 
	SECTION 3.01.

	 	Purchase at Option of Holders Upon a Fundamental Change
	 	 	10	 
	SECTION 3.02.

	 	Effect of Fundamental Change Purchase Notice
	 	 	13	 
	SECTION 3.03.

	 	Withdrawal of Fundamental Change Purchase Notice
	 	 	13	 
	SECTION 3.04.

	 	Deposit of Fundamental Change Purchase Price
	 	 	13	 
	SECTION 3.05.

	 	Notes Purchased in Whole or in Part
	 	 	14	 
	SECTION 3.06.

	 	Covenant to Comply With Applicable Laws Upon Purchase of Notes
	 	 	14	 
	SECTION 3.07.

	 	Repayment to the Company
	 	 	14	 
	 
	 	 	 	 	 	 
	ARTICLE 4

	CONVERSION

	 
	 	 	 	 	 	 
	SECTION 4.01.

	 	Right to Convert
	 	 	14	 
	SECTION 4.02.

	 	Conversion Procedures
	 	 	16	 
	SECTION 4.03.

	 	Payments Upon Conversion
	 	 	18	 
	SECTION 4.04.

	 	Adjustment of Conversion Rate
	 	 	20	 
	SECTION 4.05.

	 	Certain Other Adjustments
	 	 	28	 
	SECTION 4.06.

	 	Adjustments Upon Certain Fundamental Changes
	 	 	28	 
	SECTION 4.07.

	 	Effect of Recapitalization, Reclassification,
Consolidation, Merger or Sale	 	 	30	 
	SECTION 4.08.

	 	Taxes on Shares Issued
	 	 	32	 
	SECTION 4.09.

	 	Reservation of Shares; Shares to be Fully Paid;
Compliance With Governmental Requirements; Listing
of Common Stock
	 	 	32	 
	SECTION 4.10.

	 	Responsibility of Trustee
	 	 	33	 
	SECTION 4.11.

	 	Notice to Holders Prior to Certain Actions
	 	 	33	 
	SECTION 4.12.

	 	Stockholder Rights Plan
	 	 	34	 

-i-

 

TABLE
OF CONTENTS
(Continued)

	 	 	 	 	 	 	 
	 	 	 	 	Page
	 
	 	 	 	 	 	 
	ARTICLE 5

	REMEDIES

	 
	 	 	 	 	 	 
	SECTION 5.01.

	 	Events of Default
	 	 	34	 
	SECTION 5.02.

	 	Additional Interest
	 	 	35	 
	SECTION 5.03.

	 	Company Compliance Certificates and Notice of Defaults
	 	 	35	 
	 
	 	 	 	 	 	 
	ARTICLE 6

	SATISFACTION AND DISCHARGE

	 
	 	 	 	 	 	 
	SECTION 6.01.

	 	Satisfaction and Discharge of the Supplemental Indenture
	 	 	35	 
	SECTION 6.02.

	 	Deposited Monies to Be Held in Trust by Trustee
	 	 	36	 
	SECTION 6.03.

	 	Paying Agent to Repay Monies Held
	 	 	36	 
	SECTION 6.04.

	 	Return of Unclaimed Monies
	 	 	36	 
	SECTION 6.05.

	 	Reinstatement
	 	 	37	 
	 
	 	 	 	 	 	 
	ARTICLE 7

	SUPPLEMENTAL INDENTURES

	 
	 	 	 	 	 	 
	SECTION 7.01.

	 	Amendments or Supplements Without Consent of Holders
	 	 	37	 
	SECTION 7.02.

	 	Amendments, Supplements or Waivers With Consent of Holders
	 	 	37	 
	 
	 	 	 	 	 	 
	ARTICLE 8

	INAPPLICABLE PROVISIONS OF THE ORIGINAL INDENTURE

	 
	 	 	 	 	 	 
	SECTION 8.01.

	 	Limitations on Liens
	 	 	38	 
	 
	 	 	 	 	 	 
	ARTICLE 9

	MISCELLANEOUS

	 
	 	 	 	 	 	 
	SECTION 9.01.

	 	Governing Law
	 	 	38	 
	SECTION 9.02.

	 	Payments on Business Days
	 	 	38	 
	SECTION 9.03.

	 	No Security Interest Created
	 	 	38	 
	SECTION 9.04.

	 	Trust Indenture Act
	 	 	38	 
	SECTION 9.05.

	 	Benefits of Indenture
	 	 	38	 
	SECTION 9.06.

	 	Calculations
	 	 	39	 
	SECTION 9.07.

	 	Table of Contents, Headings, Etc
	 	 	39	 
	SECTION 9.08.

	 	Execution in Counterparts
	 	 	39	 
	SECTION 9.09.

	 	Severability
	 	 	39	 

EXHIBITS

	 	 	 	 	 
	Exhibit A

	 	Form of Note
	 	A-1
	Exhibit B

	 	Form of Notice of Conversion
	 	B-1
	Exhibit C

	 	Form of Fundamental Change Purchase Notice
	 	C-1
	Exhibit D

	 	Form of Assignment and Transfer
	 	D-1

-ii-

 

     SUPPLEMENTAL INDENTURE, dated as of March 30, 2009, between Newell Rubbermaid Inc., a Delaware
corporation (the “Company”), and The Bank of New York Mellon Trust Company, N.A, as trustee (the
“Trustee”) under the Indenture dated as of November 1, 1995, between the Company and the Trustee
(as amended or supplemented from time to time in accordance with the terms thereof, the “Original
Indenture”).

RECITALS OF THE COMPANY

     WHEREAS, the Company executed and delivered the Original Indenture to the Trustee to provide,
among other things, for the issuance, from time to time, of the Company’s unsecured Securities, in
an unlimited aggregate principal amount, in one or more series to be established by the Company
under, and authenticated and delivered as provided in, the Original Indenture;

     WHEREAS, Section 901(7) of the Original Indenture provides for the Company and the Trustee to
enter into an indenture supplemental to the Original Indenture to establish the form and terms of
Securities of any series as contemplated by Sections 201 and 301 of the Original Indenture;

     WHEREAS, the Board of Directors has duly adopted resolutions authorizing the Company to
execute and deliver this Supplemental Indenture;

     WHEREAS, pursuant to the terms of the Original Indenture, the Company desires to establish a
new series of its Securities to be known as its “5.50% Convertible Senior Notes due 2014” (the
“Notes”), the form and substance of such Notes and the terms, provisions and conditions thereof to
be set forth as provided in the Original Indenture and this Supplemental Indenture;

     WHEREAS, the Form of Note, the certificate of authentication to be borne by each Note and the
Form of Notice of Conversion, Form of Fundamental Change Purchase Notice and Form of Assignment and
Transfer contemplated under the terms of the Notes are to be substantially in the forms hereinafter
provided; and

     WHEREAS, the Company has requested that the Trustee execute and deliver this Supplemental
Indenture, and all requirements necessary to make (i) this Supplemental Indenture a valid
instrument in accordance with its terms, and (ii) the Notes, when executed by the Company and
authenticated and delivered by the Trustee, the valid obligations of the Company, have been
performed, and the execution and delivery of this Supplemental Indenture have been duly authorized
in all respects.

     NOW, THEREFORE, THIS SUPPLEMENTAL INDENTURE WITNESSETH, for and in consideration of the
premises and the purchases of the Notes by the Holders thereof, it is mutually agreed, for the
benefit of the Company and the equal and proportionate benefit of all Holders of the Notes, as
follows:

 

 

ARTICLE 1

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

     SECTION 1.01. Scope of Supplemental Indenture. The changes, modifications and supplements to
the Original Indenture effected by this Supplemental Indenture shall be applicable only with
respect to, and shall only govern the terms of, the Notes, which may be issued from time to time,
and shall not apply to any other Securities that may be issued under the Original Indenture unless
a supplemental indenture with respect to such other Securities specifically incorporates such
changes, modifications and supplements. The provisions of this Supplemental Indenture shall
supersede any corresponding provisions in the Original Indenture.

     SECTION 1.02. Definitions. For all purposes of the Indenture, except as otherwise expressly
provided or unless the context otherwise requires:

     (i) the terms defined in this Article 1 shall have the meanings assigned to them in
this Article and include the plural as well as the singular;

     (ii) all words, terms and phrases defined in the Original Indenture (but not otherwise
defined herein) shall have the same meanings as in the Original Indenture;

     (iii) all other terms used herein that are defined in the Trust Indenture Act, either
directly or by reference therein, shall have the meanings assigned to them in the Trust
Indenture Act;

     (iv) all accounting terms not otherwise defined herein shall have the meanings assigned
to them in accordance with generally accepted accounting principles, and, except as
otherwise herein expressly provided, the term “generally accepted accounting principles”
with respect to any computation required or permitted hereunder shall mean such accounting
principles as are generally accepted at the date of this instrument; and

     (v) the words “herein,” “hereof” and “hereunder” and other words of similar import
refer to this Supplemental Indenture as a whole and not to any particular Article, Section
or other subdivision.

     “Additional Interest” has the meaning specified in Section 5.02.

     “Additional Notes” has the meaning specified in Section 2.01.

     “Additional Shares” has the meaning specified in Section 4.06(a).

     “Agent Members” has the meaning specified in Section 2.02.

     “Bid Solicitation Agent” means the Company or such other Person (including the Trustee) as may
be appointed, from time to time, by the Company to solicit market bid quotations for the Notes in
accordance with Section 4.01(a)(ii).

2

 

     “Business Day” means, with respect to any Note, any day other than a Saturday, a Sunday or a
day on which the Federal Reserve Bank of New York is authorized or required by law or executive
order to close or to be closed.

     “Cash Percentage” has the meaning specified in Section 4.03(c).

     “Cash Percentage Notice” has the meaning specified in Section 4.03(c).

     “Clause A Distribution” has the meaning specified in Section 4.04(c).

     “Clause B Distribution” has the meaning specified in Section 4.04(c).

     “Clause C Distribution” has the meaning specified in Section 4.04(c).

     “close of business” means 5:00 p.m. (New York City time).

     “Common Stock” means the shares of common stock, par value $1.00 per share, of the Company as
such shares of common stock exist on the date of this Supplemental Indenture, subject to Section
4.07.

     “Conversion Agent” means the Trustee or such other office or agency designated by the Company
where Notes may be presented for conversion. The Conversion Agent shall initially be the Trustee.

     “Conversion Date” has the meaning specified in Section 4.02(b).

     “Conversion Notice” has the meaning specified in Section 4.02(b).

     “Conversion Price” means, in respect of each Note, as of any date, $1,000, divided by the
Conversion Rate as of such date.

     “Conversion Rate” means, initially, 116.1980 shares of Common Stock per $1,000 principal
amount of Notes, subject to adjustment as set forth herein.

     “Custodian” means the Trustee, as custodian with respect to the Notes (so long as the Notes
constitute Global Notes), or any successor entity.

     “Daily Conversion Value” means, for each of the 40 consecutive Trading Days during the
Observation Period, one fortieth (1/40th) of the product of (i) the applicable Conversion Rate and
(ii) the Daily VWAP of the Common Stock on such Trading Day.

     “Daily Settlement Amount” has the meaning specified in Section 4.03(b).

     “Daily Share Amount” has the meaning specified in Section 4.03(b)(ii).

     “Daily VWAP” means, for each of the 40 consecutive Trading Days during the Observation Period,
the per share volume-weighted average price as displayed under the heading “Bloomberg VWAP” on
Bloomberg page “NWL.N <equity> AQR” (or any successor thereto) in respect of the period from
the scheduled open of trading until the scheduled close of trading of

3

 

the primary trading session on such Trading Day (or if such volume-weighted average price is
unavailable, the market value of one share of Common Stock on such Trading Day determined, using a
volume-weighted average method, by a nationally recognized independent investment banking firm
retained for such purpose by the Company). The Daily VWAP will be determined without regard to
after-hours trading or any other trading outside of the regular trading session trading hours.

     “Depositary” or “Depository” has the meaning set forth in the Original Indenture, which shall
initially be The Depository Trust Company until a successor Depositary shall have become such
pursuant to the applicable provisions of the Indenture, and thereafter “Depositary” shall mean such
successor Depositary.

     “Effective Date” has the meaning specified in Section 4.06(c).

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

     “Ex-Dividend Date” means, in respect of any dividend or distribution, the first date upon
which the shares of Common Stock trade on the applicable exchange or in the applicable market (used
to determine the Last Reported Sale Price), regular way, without the right to receive such dividend
or distribution.

     “Fundamental Change” will be deemed to have occurred at the time after the Notes are
originally issued if any of the following occurs:

     (1) a “person” or “group” within the meaning of Section 13(d) of the Exchange Act, other than
the Company, its Subsidiaries, and its and their employee benefit plans, has become the direct or
indirect “beneficial owner,” as defined in Rule 13d-3 under the Exchange Act, of the Company’s
common equity representing more than 50% of the voting power of the Company’s common equity;

     (2) consummation of any share exchange, consolidation or merger of the Company or any other
transaction or series of transactions pursuant to which the Common Stock will be converted into
cash, securities or other property or any sale, lease or other transfer in one transaction or a
series of transactions of all or substantially all of the consolidated assets of the Company and
its Subsidiaries, taken as a whole, to any Person other than one of the Company’s Subsidiaries;
provided, however, that a transaction where the holders of all classes of the Company’s common
equity immediately prior to such transaction that is a share exchange, consolidation or merger own,
directly or indirectly, more than 50% of all classes of common equity of the continuing or
surviving corporation or transferee or the parent thereof immediately after such event shall not be
a Fundamental Change;

     (3) the Company’s stockholders approve any plan or proposal for the liquidation or dissolution
of the Company; or

     (4) the Common Stock (or other common stock into which the Notes are then convertible) ceases
to be listed or quoted on a national securities exchange in the United States.

4

 

     Notwithstanding the foregoing, a Fundamental Change as a result of clause (2) above will not
be deemed to have occurred if 100% of the consideration received or to be received by the holders
of the Common Stock, excluding cash payments for fractional shares, in connection with the
transaction or transactions constituting the Fundamental Change consists of Publicly Traded
Securities and as a result of such transaction or transactions the Notes become convertible into
such Publicly Traded Securities, excluding cash payments for fractional shares, subject to the
provisions set forth under Section 4.03 of this Supplemental Indenture.

     “Fundamental Change Company Notice” has the meaning specified in Section 3.01(b).

     “Fundamental Change Purchase Date” has the meaning specified in Section 3.01(a).

     “Fundamental Change Purchase Notice” has the meaning specified in Section 3.01(a)(i).

     “Fundamental Change Purchase Price” has the meaning specified in Section 3.01(a).

     “Global Note” means any Note that is a Registered Security in global form.

     “Indenture” means the Original Indenture, as originally executed and as supplemented from time
to time by one or more indentures supplemental hereto, including this Supplemental Indenture,
entered into pursuant to the applicable provisions of the Indenture, including, for all purposes of
this instrument and any such supplemental indenture, the provisions of the Trust Indenture Act that
are deemed to be a part of and govern the Original Indenture, this Supplemental Indenture and any
other such supplemental indenture, respectively.

     “Initial Dividend Threshold” has the meaning specified in Section 4.04(d)(i).

     “Initial Notes” has the meaning specified in Section 2.01.

     “Interest Payment Date” means, with respect to the payment of interest on the Notes, each
March 15 and September 15 of each year.

     “Last Reported Sale Price” of the Common Stock on any date means the closing sale price per
share of Common Stock (or if no closing sale price is reported, the average of the bid and ask
prices or, if more than one in either case, the average of the average bid and the average ask
prices) on that date as reported in composite transactions for the principal U.S. securities
exchange on which the Common Stock is traded. If the Common Stock is not listed for trading on a
U.S. national or regional securities exchange on the relevant date, the “Last Reported Sale Price”
shall be the last quoted bid price for the Common Stock in the over-the-counter market on the
relevant date as reported by Pink Sheets LLC or a similar organization. If the Common Stock is not
so quoted, the “Last Reported Sale Price” shall be the average of the mid-point of the last bid and
ask prices for the Common Stock on the relevant date from each of at least three nationally
recognized independent investment banking firms selected by the Company for this purpose.

5

 

     “Make-Whole Fundamental Change” means any transaction or event that constitutes a Fundamental
Change (determined after giving effect to any exceptions or exclusions to such definition, but
without regard to the proviso in clause (2) of the definition thereof).

     “Market Disruption Event” means (i) a failure by the principal United States national
securities or regional securities exchange or market on which the Common Stock is listed or
admitted to trading to open for trading during its regular trading session or (ii) the occurrence
or existence for more than a one half-hour period in the aggregate on any Scheduled Trading Day for
the Common Stock of any suspension or limitation imposed on trading (by reason of movements in
price exceeding limits permitted by the stock exchange or otherwise) in the Common Stock or in any
options, contracts or future contracts relating to the Common Stock, and such suspension or
limitation occurs or exists at any time before 1:00 p.m., New York City time.

     “Measurement Period” has the meaning specified in Section 4.01(a)(ii).

     “Merger Common Stock” has the meaning specified in Section 4.07(c)(i).

     “Merger Event” has the meaning specified in Section 4.07(a).

     “Merger Valuation Percentage” has the meaning specified in Section 4.07(d)(i).

     “Merger Valuation Period” has the meaning specified in Section 4.07(d)(ii).

     “Note” or “Notes” has the meaning specified in the fourth paragraph of the recitals of this
Supplemental Indenture, and shall include any Additional Notes issued pursuant to Section 2.01
hereof.

     “Observation Period” with respect to any Note means (i) if the relevant Conversion Date occurs
prior to November 15, 2013, the 40 consecutive Trading Day period beginning on and including the
second Scheduled Trading Day after such Conversion Date, and (ii) if the relevant Conversion Date
occurs on or after November 15, 2013, the 40 consecutive Trading Days beginning on and including
the 42nd Scheduled Trading Day immediately preceding March 15, 2014.

     “opening of business” means 9:00 a.m. (New York City time).

     “Original Indenture” has the meaning specified in the first paragraph of this Supplemental
Indenture.

     “Paying Agent” has the meaning set forth in the Original Indenture, which shall initially be
the Trustee, and shall be the Person authorized by the Company to pay the principal amount of,
interest on, or Fundamental Change Purchase Price of, any Notes on behalf of the Company.

     “Physical Notes” means certificated Notes that are not in global form and are Registered
Securities issued in denominations of $1,000 principal amount and multiples thereof.

     “Place of Payment” means, for purposes of the Notes, New York, New York.

6

 

     “Publicly Traded Securities” means, in respect of a transaction described in clause (2) of the
definition of Fundamental Change, shares of common stock traded on the New York Stock Exchange, the
NASDAQ Global Market or the NASDAQ Global Select Market (or any or their respective successors) or
which will be so traded or quoted when issued or exchanged in connection with a Fundamental Change.

     “Regular Record Date” means, with respect to the payment of interest on the Notes, the March 1
(whether or not a Business Day) immediately preceding an Interest Payment Date on March 15 and the
September 1 (whether or not a Business Day) immediately preceding an Interest Payment Date on
September 15.

     “Reference Property” has the meaning specified in Section 4.07(a).

     “Scheduled Trading Day” means a day that is scheduled to be a Trading Day on the principal
United States national or regional securities exchange or market on which the Common Stock is
listed or admitted for trading. If the Common Stock is not so listed or admitted for trading,
“Scheduled Trading Day” means a Business Day.

     “Settlement Amount” has the meaning specified in Section 4.03(a).

     “Spin-Off” has the meaning specified in Section 4.04(c).

     “Stated Maturity” means, with respect to any Note and the payment of the principal amount
thereof, March 15, 2014.

     “Stock Price” has the meaning specified in Section 4.06(c).

     “Trading Day” means, except as otherwise provided in Section 4.03(g), a day on which (i)
trading in the Common Stock generally occurs on the New York Stock Exchange or, if the Common Stock
is not then listed on the New York Stock Exchange, on the principal other United States national or
regional securities exchange on which the Common Stock is then listed or, if the Common Stock is
not then listed on a United States national or regional securities exchange, in the principal other
market on which the Common Stock is then traded, and (ii) a Last Reported Sale Price for the Common
Stock is available on such securities exchange or market. If the Common Stock (or other security
for which a closing sale price must be determined) is not so listed or traded, “Trading Day” means
a Business Day.

     “Trading Price” of the Notes on any date of determination means the average of the secondary
market bid quotations obtained by the Bid Solicitation Agent for $5 million principal amount of the
Notes at approximately 3:30 p.m., New York City time, on such determination date from three
independent nationally recognized securities dealers selected by the Company; provided that, if
three bids cannot reasonably be obtained by the Bid Solicitation Agent but only two such bids are
obtained, then the average of the two bids shall be used, and if only one such bid can reasonably
be obtained by the Bid Solicitation Agent, that one bid shall be used. If the Bid Solicitation
Agent cannot reasonably obtain at least one bid for $5 million principal amount of the Notes from a
nationally recognized securities dealer, then the Trading Price per $1,000 principal amount of
Notes will be deemed to be less than 98% of the product of the Last Reported Sale Price of the
Common Stock and the applicable Conversion Rate.

7

 

     “Trading Price Condition” has the meaning specified in Section 4.01(a)(ii).

     “Trigger Event” has the meaning specified in Section 4.04(c).

     “Underwriters” means Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan
Securities Inc. and Friedman Billings Ramsey.

     “U.S.” means the United States of America.

     “Valuation Period” has the meaning specified in Section 4.04(c).

ARTICLE 2

THE SECURITIES

     SECTION 2.01. Title and Terms; Payments. There is hereby established a series of Securities
designated the “5.50% Convertible Senior Notes due 2014” initially limited in aggregate principal
amount to $345,000,000, which amount shall be as set forth in a Company Order for the
authentication and delivery of Notes pursuant to Section 303 of the Original Indenture.

     The principal amount of Notes then outstanding shall be payable at Stated Maturity.

     The Company may, without the consent of the Holders of the Notes, hereafter issue additional
notes (“Additional Notes”) under the Indenture with the same terms and with the same CUSIP numbers
as the Notes issued on the date of this Supplemental Indenture (the “Initial Notes”) in an
unlimited aggregate principal amount; provided that such Additional Notes must be part of the same
issue as the Initial Notes for federal income tax purposes. Any such Additional Notes shall
constitute a single series together with the Initial Notes for all purposes hereunder, including,
without limitation, for purposes of any waivers, supplements or amendments to the Indenture
requiring the approval of Holders of the Notes and any offers to purchase the Notes.

     The Form of Note, the Form of Notice of Conversion, the Form of Fundamental Change Purchase
Notice and the Form of Assignment and Transfer shall be substantially as set forth in Exhibits A,
B, C and D, respectively, hereto, which are incorporated into and shall be deemed a part of this
Supplemental Indenture, in each case with such appropriate insertions, omissions, substitutions and
other variations as are required or permitted by the Indenture, and may have such letters, numbers
or other marks of identification and such legends or endorsements placed thereon as may be required
to comply with the rules of any securities exchange or as may, consistently herewith, be determined
to be necessary or appropriate by the officers of the Company executing such Notes, as evidenced by
their execution of the Notes.

     The Company shall pay the principal of and interest on any Global Note in immediately
available funds to the Depositary or its nominee, as the case may be, as the registered Holder of
such Global Note. The Company shall pay the principal of any Physical Notes at the office or
agency designated by the Company for that purpose. The Company has initially designated the
Trustee as its Paying Agent and Security Registrar in respect of the Notes and its agency in New
York, New York as a place where Notes may be presented for payment or for registration of

8

 

transfer. The Company may, however, change the Paying Agent or Security Registrar for the
Notes without prior notice to the Holders thereof, and the Company may act as Paying Agent or
Security Registrar for the Notes. Interest on any Physical Notes will be payable (i) to Holders of
Physical Notes having an aggregate principal amount of Notes of $5,000,000 or less, by check mailed
to the Holders of such Notes at their address in the Security Register and (ii) to Holders having
an aggregate principal amount of Physical Notes in excess of $5,000,000, either by check mailed to
each Holder at its address in the Security Register or, upon application by a Holder to the
Registrar not later than the relevant Regular Record Date, by wire transfer in immediately
available funds to that Holder’s account within the United States, which application shall remain
in effect until that Holder notifies, in writing, the Registrar to the contrary.

     SECTION 2.02. Book-Entry Provisions for Global Notes. (a) The Notes initially shall be issued
in the form of one or more Global Notes without interest coupons (i) registered in the name of Cede
& Co., as nominee of the Depositary and (ii) delivered to the Trustee as custodian for the
Depositary.

     Members of, or participants in, the Depositary (“Agent Members”) shall have no rights under
this Supplemental Indenture or the Original Indenture with respect to any Global Note held on their
behalf by the Depositary, or the Trustee as its custodian, or under the Global Note, and Cede &
Co., or such other Person designated by the Depositary as its nominee, may be treated by the
Company, the Trustee and any agent of the Company or the Trustee as the absolute owner of the
Global Note for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall
prevent the Company, the Trustee or any agent of the Company or the Trustee from giving effect to
any written certification, proxy or other authorization furnished by the Depositary or impair, as
between the Depositary and its Agent Members, the operation of customary practices governing the
exercise of the rights of any Holder.

     (b) Transfers of Global Notes shall be limited to transfers in whole, but not in part, to the
Depositary, its successors or their respective nominees. Notwithstanding anything to the contrary
in Section 305 of the Original Indenture, interests of beneficial owners in a Global Note may be
transferred or exchanged, in whole or in part, for Physical Notes, only: (i) pursuant to the sixth
paragraph of Section 305 of the Original Indenture regarding the Depositary being unwilling, unable
or ineligible to continue in its capacity as Depositary for the Notes, including as a result of
ceasing to be registered as a clearing agency under the Exchange Act, and a successor Depositary is
not appointed within 60 days or (ii) if an Event of Default with respect to the Notes has occurred
and is continuing, in each case in accordance with the rules and procedures of the Depositary.
Other than as set forth in this Section 2.02(b), the Notes shall remain in global form as Global
Notes.

     (c) In connection with any transfer or exchange of a portion of the beneficial interest in the
Global Note to beneficial owners pursuant to Section 305 of the Original Indenture, the Security
Registrar shall (if one or more Physical Notes are to be issued) reflect on its books and records
the date and a decrease in the principal amount of the Global Note in an amount equal to the
principal amount of the beneficial interest in the Global Note to be transferred, and the Company
shall execute, and the Trustee shall authenticate and deliver, one or more Physical Notes of like
tenor and amount in accordance with Section 305 of the Original Indenture.

9

 

     (d) In connection with the transfer of the entire Global Note to beneficial owners pursuant to
Section 305 of the Original Indenture, the Global Note shall be deemed to be surrendered to the
Trustee for cancellation, and the Company shall execute, and the Trustee shall authenticate and
deliver, to each beneficial owner identified by the Depositary in exchange for its beneficial
interest in the Global Note, an equal aggregate principal amount of Physical Notes of authorized
denominations and the same tenor.

     (e) The Holder of Global Notes may grant proxies and otherwise authorize any Person, including
Agent Members and Persons that may hold interests through Agent Members, to take any action that a
Holder is entitled to take under this Supplemental Indenture, Original Indenture or the Notes.

     SECTION 2.03. CUSIP Numbers. In issuing the Notes, the Company may use “CUSIP” numbers (if
then generally in use), and, if so, the Trustee shall use “CUSIP” numbers in notices of redemption
as a convenience to Holders of the Notes; provided that any such notice may state that no
representation is made as to the correctness of such numbers as printed on the Notes and that
reliance may be placed only on the other identification numbers printed on the Notes, and any such
redemption shall not be affected by any defect in or omission of such numbers. The Company will
promptly notify the Trustee of any change in the “CUSIP” numbers of the Notes.

     SECTION 2.04. Reporting Requirement. The Company shall deliver to the Trustee within 15 days
after the same is required to be filed with the Commission, copies of the quarterly and annual
reports and of the information, documents and other reports, if any, that the Company is required
to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act (giving effect to
any grace period provided by Rule 12b-25 under the Exchange Act), and the Company shall otherwise
comply with the requirements of Trust Indenture Act Section 314(a). Any quarterly or annual report
or other information, document or other report that the Company files with the Commission pursuant
to Section 13 or 15(d) of the Exchange Act on the Commission’s EDGAR system shall be deemed to
constitute delivery of such filing to the Trustee. The Trustee does not have the duty to review
such information, documents or reports, is not considered to have notice of the content of such
information, documents or reports and does not have a duty to verify the accuracy of such
information, documents or reports.

ARTICLE 3

FUNDAMENTAL CHANGES AND PURCHASES THEREUPON

     SECTION 3.01. Purchase at Option of Holders Upon a Fundamental Change. (a) Generally. If a
Fundamental Change occurs at any time prior to March 15, 2014, then each Holder of Notes shall have
the right, at such Holder’s option, to require the Company to purchase for cash any or all of such
Holder’s Notes, or any portion of the principal amount thereof, that is equal to $1,000 or a
multiple of $1,000, on a date specified by the Company that is no earlier than the 20th calendar
day following the date of, and no later than the 35th calendar day following the date of, delivery
of the Fundamental Change Company Notice (as defined below) (the “Fundamental Change Purchase
Date”), at a purchase price equal to 100% of the principal amount thereof, together with accrued
and unpaid interest thereon to, but excluding, the Fundamental Change Purchase Date (the
“Fundamental Change Purchase Price”); provided,

10

 

however, that if a Fundamental Change Purchase Date is after a Regular Record Date and on or
prior to the Interest Payment Date to which such Regular Record Date relates, the interest payable
in respect of such Interest Payment Date shall be payable to the Holders of record as of the
corresponding Regular Record Date and the Fundamental Change Purchase Price shall be equal to 100%
of the principal amount of the Notes to be purchased pursuant to this Article 3. The requirement
for the Company to purchase any Notes on the Fundamental Change Purchase Date will be subject to
extension to comply with applicable law.

     Purchases of Notes under this Section 3.01 shall be made, at the option of the Holder thereof,
upon:

     (i) delivery to the Paying Agent by a Holder of a duly completed notice (the
“Fundamental Change Purchase Notice”) in the form set forth on the reverse of the Note as
Exhibit C thereto, if the Notes are Physical Notes, or in compliance with the Depositary’s
procedures for tendering interests in Global Notes, if the Notes are not Physical Notes, in
each case prior to the close of business on the Business Day immediately preceding the
Fundamental Change Purchase Date ; and

     (ii) delivery of the Notes, in the case of Physical Notes, to the Paying Agent
appointed by the Company (together with all necessary endorsements for transfer), or
book-entry transfer of the Notes, in compliance with the procedures of the Depositary, such
delivery or transfer being a condition to receipt by the Holder of the Fundamental Change
Purchase Price therefor.

     The Fundamental Change Purchase Notice in respect of any Notes to be purchased shall state:

     (i) if such Notes are Physical Notes, the certificate numbers of such Notes;

     (ii) the portion of the principal amount of such Notes, which must be $1,000 or a
multiple thereof; and

     (iii) that such Notes are to be purchased by the Company pursuant to the applicable
provisions of the Notes and this Supplemental Indenture;

provided, however, that if such Notes are in global form, the Fundamental Change Purchase Notice
must also comply with appropriate procedures of the Depositary.

     Notwithstanding anything herein to the contrary, any Holder delivering to the Paying Agent the
Fundamental Change Purchase Notice contemplated by this Section 3.01 shall have the right to
withdraw, in whole or in part, such Fundamental Change Purchase Notice at any time prior to the
close of business on the Business Day immediately preceding the Fundamental Change Purchase Date by
delivery of a written notice of withdrawal to the Paying Agent in accordance with Section 3.03
below.

     The Paying Agent shall promptly notify the Company of the receipt by it of any Fundamental
Change Purchase Notice or written notice of withdrawal thereof.

11

 

     (b) Fundamental Change Company Notice. On or before the 20th calendar day after the
occurrence of a Fundamental Change, the Company shall provide to all Holders of record of the
Notes, the Trustee and the Paying Agent (in the case of any Paying Agent other than the Trustee) a
notice (the “Fundamental Change Company Notice”) of the occurrence of such Fundamental Change and
of the purchase right at the option of the Holders arising as a result thereof. Such notice shall
be sent by first class mail or, in the case of any Global Notes, in accordance with the procedures
of the Depositary for providing notices. Simultaneously with providing such Fundamental Change
Company Notice, the Company shall publish a notice containing the information included therein in a
newspaper of general circulation in New York, New York or shall publish such information on the
Company’s website or through such other public medium as the Company may use at such time.

     Each Fundamental Change Company Notice shall specify:

     (i) the events causing a Fundamental Change;

     (ii) the date of the Fundamental Change;

     (iii) the last date on which a Holder of Notes may exercise the repurchase right
pursuant to this Article 3;

     (iv) the Fundamental Change Purchase Price;

     (v) the Fundamental Change Purchase Date;

     (vi) the name and address of the Paying Agent and the Conversion Agent, if applicable;

     (vii) if applicable, the applicable Conversion Rate and any adjustments to the
applicable Conversion Rate;

     (viii) if applicable, that the Notes with respect to which a Fundamental Change
Purchase Notice has been delivered by a Holder may be converted only if the Holder withdraws
the Fundamental Change Purchase Notice in accordance with the Indenture; and

     (ix) the procedures that Holders must follow to require the Company to purchase their
Notes.

     No failure of the Company to give the foregoing notices and no defect therein shall limit the
purchase rights of the Holders of Notes or affect the validity of the proceedings for the purchase
of the Notes pursuant to this Section 3.01.

     (c) No Payment During Events of Default. There shall be no purchase of any Notes pursuant to
this Section 3.01 if there has occurred and is continuing an Event of Default with respect to the
Notes (other than an Event of Default that is cured by the payment of the Fundamental Change
Purchase Price of the Notes). The Paying Agent will promptly return to the respective Holders
thereof any Physical Notes held by it during the continuance of an Event

12

 

of Default (other than an Event of Default that is cured by the payment of the Fundamental
Change Purchase Price with respect to the Notes) and shall deem canceled any instructions for
book-entry transfer of the Notes in compliance with the procedures of the Depositary, in which
case, upon such return and cancelation, the Fundamental Change Purchase Notice with respect thereto
shall be deemed to have been withdrawn.

     SECTION 3.02. Effect of Fundamental Change Purchase Notice. Upon receipt by the Paying Agent
of the Fundamental Change Purchase Notice specified in Section 3.01 hereof, the Holder of the Note
in respect of which such Fundamental Change Purchase Notice was given shall (unless such
Fundamental Change Purchase Notice is withdrawn in accordance with Section 3.03 hereof) thereafter
be entitled to receive solely the Fundamental Change Purchase Price in cash with respect to such
Note. Such Fundamental Change Purchase Price shall be paid to such Holder, subject to receipt of
funds by the Paying Agent, on the later of (x) the Fundamental Change Purchase Date with respect to
such Note (provided the conditions in Section 3.01 hereof have been satisfied) and (y) the time of
delivery or book-entry transfer of such Note to the Paying Agent by the Holder thereof in the
manner required by Section 3.01 hereof.

     SECTION 3.03. Withdrawal of Fundamental Change Purchase Notice. A Fundamental Change Purchase
Notice may be withdrawn (in whole or in part) by means of a written notice of withdrawal delivered
to the Paying Agent in accordance with the Fundamental Change Company Notice at any time prior to
the close of business on the Business Day immediately preceding the Fundamental Change Purchase
Date, specifying:

     (i) the principal amount of the Notes with respect to which such notice of withdrawal
is being submitted;

     (ii) if Physical Notes have been issued, the certificate numbers of the withdrawn
Notes; and

     (iii) the principal amount, if any, of such Notes that remains subject to the original
Fundamental Change Purchase Notice, which portion must be in principal amounts of $1,000 or
a multiple of $1,000;

provided, however, that if Physical Notes have not been issued, the notice must comply with
appropriate procedures of the Depositary.

     The Paying Agent will promptly return to the respective Holders thereof any Physical Notes
with respect to which a Fundamental Change Purchase Notice has been withdrawn in compliance with
the provisions of this Section 3.03.

     SECTION 3.04. Deposit of Fundamental Change Purchase Price. Prior to 11:00 a.m. (local time
in The City of New York) on the Fundamental Change Purchase Date, the Company shall deposit with
the Paying Agent (or, if the Company or a Subsidiary or an Affiliate of either of them is acting as
the Paying Agent, shall segregate and hold in trust as provided herein) an amount of money (in
immediately available funds if deposited on such Business Day) sufficient to pay the Fundamental
Change Purchase Price of all the Notes or portions thereof that are to be purchased as of the
Fundamental Change Purchase Date. If the Paying Agent holds cash

13

 

sufficient to pay the Fundamental Change Purchase Price of the Notes for which a Fundamental
Change Purchase Notice has been tendered and not withdrawn in accordance with this Supplemental
Indenture on the Fundamental Change Purchase Date, then as of such Fundamental Change Purchase
Date, (a) such Notes will cease to be outstanding and interest will cease to accrue thereon
(whether or not book-entry transfer of such Notes is made or such Notes have been delivered to the
Paying Agent) and (b) all other rights of the Holders in respect thereof will terminate (other than
the right to receive the Fundamental Change Purchase Price and previously accrued and unpaid
interest upon delivery or book-entry transfer of such Notes).

     SECTION 3.05. Notes Purchased in Whole or in Part. Any Note that is to be purchased, whether
in whole or in part, shall be surrendered at the office of the Paying Agent (with, if the Company
or the Trustee so requires in the case of Physical Notes, due endorsement by, or a written
instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the
Holder thereof or such Holder’s attorney duly authorized in writing) and the Company shall execute
and the Trustee shall authenticate and deliver to the Holder of such Note, without service charge,
a new Note or Notes, of any authorized denomination as requested by such Holder in aggregate
principal amount equal to, and in exchange for, the portion of the principal amount of the Note so
surrendered that is not purchased.

     SECTION 3.06. Covenant to Comply With Applicable Laws Upon Purchase of Notes. In connection
with any offer to purchase Notes under Section 3.01 hereof, the Company shall, in each case if
required, (i) comply with Rule 13e-4, Rule 14e-1 and any other tender offer rules under the
Exchange Act that may then be applicable, (ii) file a Schedule TO or any other required schedule
under the Exchange Act and (iii) otherwise comply with all federal and state securities laws so as
to permit the rights and obligations under Section 3.01 to be exercised in the time and in the
manner specified in Section 3.01.

     SECTION 3.07. Repayment to the Company. To the extent that the aggregate amount of cash
deposited by the Company pursuant to Section 3.04 exceeds the aggregate Fundamental Change Purchase
Price of the Notes or portions thereof that the Company is obligated to purchase as of the
Fundamental Change Purchase Date, then, following the Fundamental Change Purchase Date, the Paying
Agent shall promptly return any such excess to the Company.

ARTICLE 4

CONVERSION

     SECTION 4.01. Right to Convert. (a) Subject to and upon compliance with the provisions of
this Supplemental Indenture, each Holder of Notes shall have the right, at such Holder’s option, to
convert the principal amount of any such Notes, or any portion of such principal amount equal to
$1,000 or a multiple of $1,000 thereof, at the Conversion Rate in effect on the Conversion Date for
such Notes, (x) prior to the close of business on the Business Day immediately preceding November
15, 2013, only upon satisfaction of one or more of the conditions described in clauses (i) through
(iv) below and (y) on or after November 15, 2013, at any time prior to the close of business on the
second Scheduled Trading Day immediately preceding March 15, 2014 irrespective of the conditions
described in clauses (i) through (iv) below:

14

 

     (i) Prior to the close of business on the Business Day immediately preceding November
15, 2013, a Holder of Notes may surrender all or a portion of its Notes for conversion
during any fiscal quarter (and only during such fiscal quarter) commencing after June 30,
2009 if the Last Reported Sale Price of the Common Stock for at least 20 Trading Days
(whether or not consecutive) during the period of 30 consecutive Trading Days ending on the
last Trading Day of the immediately preceding fiscal quarter is greater than or equal to
130% of the applicable Conversion Price in effect on each applicable Trading Day. The
Company shall notify the Trustee and the Conversion Agent if the Notes become convertible in
accordance with this Section 4.01(a)(i).

     (ii) Prior to the close of business on the Business Day immediately preceding November
15, 2013, a Holder of Notes may surrender its Notes for conversion during the five Business
Day period after any 10 consecutive Trading Day period (the “Measurement Period”) in which
the Trading Price per $1,000 principal amount of Notes, as determined following a request by
a Holder of Notes in accordance with the procedures set forth in this Section 4.01(a)(ii),
for each Trading Day of such period was less than 98% of the product of the Last Reported
Sale Price of the Common Stock and the Conversion Rate on such Conversion Date (the “Trading
Price Condition”). The Bid Solicitation Agent shall have no obligation to determine the
Trading Price of the Notes in accordance with this Section 4.01(a)(ii) unless requested by
the Company, and the Company shall have no obligation to make such request unless a Holder
of Notes provides the Company with reasonable evidence that the Trading Price per $1,000
principal amount of Notes would be less than 98% of the product of the Last Reported Sale
Price of the Common Stock and the applicable Conversion Rate. The Company shall instruct
the Bid Solicitation Agent to determine (or, if the Company is then acting as Bid
Solicitation Agent, the Company shall determine) the Trading Price of the Notes beginning on
the next Trading Day promptly following the receipt of such evidence and on each successive
Trading Day until such Trading Day on which the Trading Price per $1,000 principal amount of
Notes is greater than or equal to 98% of the product of the Last Reported Sale Price of the
Common Stock and the applicable Conversion Rate. If the Company does not so instruct the
Bid Solicitation Agent to obtain (or, if the Company is then acting as Bid Solicitation
Agent, the Company does not obtain) bids when required, the Trading Price per $1,000
principal amount of the Notes will be deemed to be less than 98% of the product of the Last
Reported Sale Price of the Common Stock and the applicable Conversion Rate on each day the
Company fails to do so. If the Trading Price Condition has been met, the Company shall so
notify Holders, the Trustee and the Conversion Agent. If, at any time after the Trading
Price Condition has been met, the Trading Price per $1,000 principal amount of Notes is
greater than or equal to 98% of the product of the Last Reported Sale Price of the Common
Stock and the Conversion Rate for such date, the Company shall so notify the holders of the
Notes, the Trustee and the Conversion Agent.

     (iii) If the Company elects to:

     (A) issue to all or substantially all holders of Common Stock certain rights or
warrants entitling them to purchase, for a period expiring within 45 days after the
announcement date of such issuance, shares of Common Stock at less

15

 

than the average of the Last Reported Sale Prices of a share of Common Stock
for the 10 consecutive Trading Day period ending on the Trading Day immediately
preceding the date of announcement of such issuance; or

     (B) distribute to all or substantially all holders of Common Stock assets, debt
securities or certain rights to purchase securities of the Company, which
distribution has a per share value, as reasonably determined by the Board of
Directors, exceeding 10% of the Last Reported Sale Price of the Common Stock on the
Trading Day preceding the date of announcement for such distribution,

then, in each case, the Company shall notify the Holders of the Notes at least 50 Scheduled
Trading Days prior to the Ex-Dividend Date for such issuance. Once the Company has given
such notice, Holders may surrender Notes for conversion at any time until the earlier of the
close of business on the Business Day immediately prior to such Ex-Dividend Date or the
Company’s announcement that such issuance or distribution will not take place, even if the
Notes are not otherwise convertible at such time. Notwithstanding the foregoing, a Holder
of Notes may not convert its Notes under the provisions of this Section 4.01(a)(iii) if such
Holder will participate in such issuance or distribution, at the same time and upon the same
terms as a holder of Common Stock, as if such Holder held, for each $1,000 principal amount
of Notes, a number of shares of Common Stock equal to the Conversion Rate in effect
immediately prior to the Ex-Dividend Date.

     (iv) If a transaction or event that constitutes a Fundamental Change or a Make-Whole
Fundamental Change occurs, regardless of whether a Holder has the right to require the
Company to purchase the Notes pursuant to Article 3 hereof, or if the Company is a party to
a consolidation, merger, binding share exchange, or sale, transfer or lease of all or
substantially all of the Company’s assets, in each case, pursuant to which the Common Stock
would be converted into cash, securities or other assets, Holders may surrender Notes for
conversion at any time from or after the date which is 50 Scheduled Trading Days prior to
the anticipated effective date of such transaction until 35 Trading Days after the actual
effective date of such transaction (or, if such transaction also constitutes a Fundamental
Change, until the related Fundamental Change Purchase Date). The Company shall notify
Holders and the Trustee as promptly as practicable following the date the Company publicly
announces such transaction, but in no event less than 50 Scheduled Trading Days prior to the
anticipated effective date of such transaction .

     (b) Notes may not be converted after the close of business on the second Scheduled Trading Day
immediately preceding March 15, 2014.

     SECTION 4.02. Conversion Procedures. (a) Each Note shall be convertible at the office of the
Conversion Agent and, if applicable, in accordance with the procedures of the Depositary.

16

 

     (b) In order to exercise the conversion privilege with respect to any interest in a Global
Note, the Holder must complete the appropriate instruction form for conversion pursuant to the
Depositary’s book-entry conversion program, furnish appropriate endorsements and transfer documents
if required by the Company or the Conversion Agent, and pay the funds, if any, required by Section
4.03(e) and any taxes or duties if required pursuant to Section 4.08, and the Conversion Agent must
be informed of the conversion in accordance with the customary practice of the Depositary. In
order to exercise the conversion privilege with respect to any Physical Notes, the Holder of any
such Notes to be converted, in whole or in part, shall:

     (i) complete and manually sign the conversion notice provided on the back of the Note
(the “Conversion Notice”) or a facsimile of the Conversion Notice;

     (ii) deliver the Conversion Notice, which is irrevocable, and the Note to the
Conversion Agent;

     (iii) if required, furnish appropriate endorsements and transfer documents,

     (iv) make any payment required under Section 4.03(e); and

     (v) if required, pay all transfer or similar taxes as set forth in Section 4.08.

The date on which the Holder satisfies all of the applicable requirements set forth above is the
“Conversion Date.” The Conversion Agent will, as promptly as possible, and in any event within two
(2) Business Days of the receipt thereof, provide the Company with notice of any conversion by a
Holder of the Notes.

     (c) Each Conversion Notice shall state the name or names (with address or addresses) in which
any certificate or certificates for shares of Common Stock which shall be issuable on such
conversion shall be issued. All such Notes surrendered for conversion shall, unless the shares
issuable on conversion are to be issued in the same name as the registration of such Notes, be duly
endorsed by, or be accompanied by instruments of transfer in form satisfactory to the Company duly
executed by, the Holder or his duly authorized attorney.

     (d) In case any Notes of a denomination greater than $1,000 shall be surrendered for partial
conversion, the Company shall execute and the Trustee shall authenticate and deliver to the Holder
of the Notes so surrendered, without charge, new Notes in authorized denominations in an aggregate
principal amount equal to the unconverted portion of the surrendered Notes.

     Each conversion shall be deemed to have been effected as to any such Notes (or portion
thereof) surrendered for conversion on the relevant Conversion Date; provided, however, that the
person in whose name the certificate or certificates for the number of shares of Common Stock, if
any, that shall be issuable upon such conversion in respect of any Trading Day during an
Observation Period, if applicable, shall become the Holder of record of such shares of Common Stock
as of the close of business on the last Trading Day of such Observation Period.

     (e) Upon the conversion of an interest in Global Notes, the Trustee (or other Conversion Agent
appointed by the Company) shall make a notation on such Global Notes as to the reduction in the
principal amount represented thereby. The Company shall notify the Trustee

17

 

in writing of any conversions of Notes effected through any Conversion Agent other than the
Trustee.

     (f) Notwithstanding the foregoing, a Note in respect of which a Holder has delivered a
Fundamental Change Purchase Notice exercising such Holder’s option to require the Company to
purchase such Note may be converted only if such notice of exercise is withdrawn in accordance with
Article 3 hereof prior to the close of business on the Business Day prior to the relevant
Fundamental Change Purchase Date.

     SECTION 4.03. Payments Upon Conversion. (a) Except as provided in Section 4.06(b), upon
conversion of any Note, on the third Business Day immediately following the last Trading Day of the
relevant Observation Period, the Company shall deliver to converting Holders, in respect of each
$1,000 principal amount of Notes being converted, a “Settlement Amount” equal to the sum of the
Daily Settlement Amounts for each of the 40 Trading Days during the applicable Observation Period
for such Note.

     (b) The “Daily Settlement Amount,” for each of the 40 Trading Days during the Observation
Period, shall consist of:

     (i) cash equal to the lesser of $25 and the Daily Conversion Value, and

     (ii) to the extent the Daily Conversion Value exceeds $25, a number of shares of Common
Stock (the “Daily Share Amount”) equal to (x) the difference between the Daily Conversion
Value and $25, divided by (y) the Daily VWAP for such day, subject to the Company’s right to
pay cash in lieu of all or a portion of such number of shares, as provided in Section
4.03(c).

     (c) By the close of business on the Scheduled Trading Day prior to the first Scheduled Trading
Day of the applicable Observation Period, the Company may specify a percentage of the Daily Share
Amount that will be settled in cash (the “Cash Percentage”), and the Company will notify converting
Holders by notifying the Trustee (the “Cash Percentage Notice”). With respect to any Notes that are
converted on or after November 15, 2013, the Cash Percentage specified by the Company in the Cash
Percentage Notice for the corresponding Observation Period will apply to all such conversions. If
the Company elects to specify a Cash Percentage, the amount of cash that the Company will deliver
in lieu of all or the applicable portion of the Daily Share Amount in respect of each Trading Day
in the applicable Observation Period will equal (i) the Cash Percentage, multiplied by (ii) the
Daily Share Amount for such Trading Day (assuming that the Company had not specified a Cash
Percentage), multiplied by (iii) the Daily VWAP for such Trading Day. The number of shares
deliverable in respect of each Trading Day in the applicable Observation Period will be a
percentage of the Daily Share Amount (assuming that the Company had not specified a Cash
Percentage) equal to 100% minus the Cash Percentage. If the Company does not specify a Cash
Percentage in accordance with this Section 4.03(c), the Company shall settle the entire Daily Share
Amount for each Trading Day in such Observation Period in Common Stock (plus cash in lieu of
fractional shares). The Company may, at its option, revoke any Cash Percentage Notice in respect of
any Observation Period by notice to the Trustee; provided that the Trustee receives notice of such
revocation by the close of

18

 

business on the Scheduled Trading Day immediately prior to the first Scheduled Trading Day of
such Observation Period.

     (d) Subject to Section 4.03(e) below, upon conversion, Holders shall not receive any separate
cash payment for accrued and unpaid interest or Additional Interest, if any, unless such conversion
occurs between a Regular Record Date and the Interest Payment Date to which it relates.

     (e) Upon the conversion of any Notes, the Holder will not be entitled to receive any separate
cash payment for accrued and unpaid interest or Additional Interest, if any, except to the extent
specified below. The Company’s delivery to the Holder of cash or a combination of cash and Common
Stock, if applicable, together with any cash payment for any fractional share of Common Stock, into
which a Note is convertible will be deemed to satisfy in full the Company’s obligation to pay the
principal amount of the Notes so converted and accrued and unpaid interest and Additional Interest,
if any, to, but not including, the Conversion Date. As a result, accrued and unpaid interest and
Additional Interest, if any, to, but not including, the Conversion Date will be deemed to be paid
in full rather than cancelled, extinguished or forfeited. Notwithstanding the foregoing, if Notes
are converted after the close of business on a Regular Record Date for the payment of interest,
Holders of such Notes at the close of business on such Regular Record Date will receive the
interest and Additional Interest, if any, payable on such Notes on the corresponding Interest
Payment Date notwithstanding the conversion. Notes surrendered for conversion during the period
from the close of business on any Regular Record Date to the opening of business on the immediately
following Interest Payment Date must be accompanied by funds equal to the amount of interest and
Additional Interest, if any, payable on the Notes so converted; provided that no such payment need
be made (i) for conversions following the Regular Record Date immediately preceding March 15, 2014,
(ii) if the Company has specified a Fundamental Change Purchase Date that is after a Regular Record
Date and on or prior to the corresponding Interest Payment Date, or (iii) to the extent of any
overdue interest, if any overdue interest exists at the time of conversion with respect to such
Note.

     (f) The Company shall not issue fractional shares of Common Stock upon conversion of Notes.
If multiple Notes shall be surrendered for conversion at one time by the same Holder, the number of
full shares which shall be issuable upon conversion shall be computed on the basis of the aggregate
principal amount of the Notes (or specified portions thereof to the extent permitted hereby) so
surrendered. If any fractional share of stock would be issuable upon the conversion of any Notes,
the Company shall make payment therefor in cash in lieu of fractional shares of Common Stock based
on the Daily VWAP of the Common Stock on the final Trading Day of the applicable Observation
Period.

     (g) Solely for purposes of determining the payments and deliveries due upon conversion under
this Section 4.03, and notwithstanding the definition of “Trading Day” contained in Section 1.02,
“Trading Day” means a day on which (i) there is no Market Disruption Event and (ii) trading in the
Common Stock generally occurs on the New York Stock Exchange or, if the Common Stock is not then
listed on the New York Stock Exchange, on the principal other United States national or regional
securities exchange on which the Common Stock is then listed or, if the Common Stock is not then
listed on a United States national or regional securities exchange, on the principal other market
on which the Common Stock is then

19

 

traded. If the Common Stock (or other security for which a Daily VWAP must be determined) is
not so listed or traded, “Trading Day” means a Business Day.

     SECTION 4.04. Adjustment of Conversion Rate. The Conversion Rate shall be adjusted from time
to time by the Company if any of the following events occurs, except that the Company will not make
any adjustment to the Conversion Rate if Holders of Notes participate, as a result of holding the
Notes, in any of the transactions described under Section 4.04(a) (but only with respect to stock
dividends or distributions), Section 4.04(b), Section 4.04(c), and Section 4.04(d), at the same
time as holders of the Common Stock participate, without having to convert their Notes, as if such
Holders held a number of shares of Common Stock equal to the Conversion Rate in effect for such
Notes immediately prior to the Ex-Dividend Date for such event.

     (a) If the Company, at any time or from time to time while any of the Notes are outstanding,
exclusively issues shares of its Common Stock as a dividend or distribution on shares of Common
Stock, or if the Company effects a share split or share combination, then the Conversion Rate will
be adjusted based on the following formula:

	 	 	 	 	 	 	 	 	 	 	 	 	 
	  

	 	CR1 
	 	= 
	 	CR0 
	 	x 
	 	OS1
 

	 	 
	 

	 	 	 	 	 	 	 	 	 	OS0	 	 

where

	 	 	 	 	 	 	 
	 

	 	CR0
	 	=
	 	The Conversion Rate in effect immediately prior to
the opening of business on the Ex-Dividend Date of
such dividend or distribution, or immediately
prior to the opening of business on the effective
date of such share split or share combination, as
applicable;
	 
	 	 	 	 	 	 
	 

	 	CR1
	 	=
	 	The Conversion Rate in effect immediately after
the opening of business on such Ex-Dividend Date
or such effective date;
	 
	 	 	 	 	 	 
	 

	 	OS0
	 	=
	 	The number of shares of Common Stock outstanding
immediately prior to the opening of business on
such Ex-Dividend Date or such effective date; and
	 
	 	 	 	 	 	 
	 

	 	OS1
	 	=
	 	The number of shares of Common Stock outstanding
immediately after giving effect to such dividend,
distribution, share split or share combination.

Such adjustment shall become effective immediately after the opening of business on the Ex-Dividend
Date for such dividend or distribution or the effective date for such share split or share
combination. If any dividend or distribution of the type described in this Section 4.04(a) is
declared but not so paid or made, the Conversion Rate shall again be adjusted to the Conversion
Rate which would then be in effect if such dividend or distribution had not been declared.

     (b) If the Company, at any time or from time to time while any of the Notes are outstanding,
issues to all or substantially all holders of the Common Stock any rights or warrants entitling
them for a period of not more than 60 calendar days after the announcement date of such issuance to
subscribe for or purchase shares of the Common Stock at a price per share less than the average of
the Last Reported Sale Prices of Common Stock for the 10 consecutive

20

 

Trading-Day period ending on the Trading Day immediately preceding the date of announcement of
such issuance, the Conversion Rate shall be adjusted based on the following formula:

	 	 	 	 	 	 	 	 	 	 	 	 	 
	  

	 	CR1 
	 	= 
	 	CR0 
	 	x 
	 	OS0 + X
 

	 	 
	 

	 	 	 	 	 	 	 	 	 	OS0 + Y	 	 

where

	 	 	 	 	 	 	 
	 

	 	CR0
	 	=
	 	The Conversion Rate in effect immediately prior to
the opening of business on the Ex-Dividend Date
for such issuance;
	 
	 	 	 	 	 	 
	 

	 	CR1
	 	=
	 	The Conversion Rate in effect immediately after
the opening of business on such Ex-Dividend Date;
	 
	 	 	 	 	 	 
	 

	 	OS0
	 	=
	 	The number of shares of Common Stock outstanding
immediately prior to the opening of business on
such Ex-Dividend Date;
	 
	 	 	 	 	 	 
	 

	 	X
	 	=
	 	The total number of shares of Common Stock
issuable pursuant to such rights or warrants; and
	 
	 	 	 	 	 	 
	 

	 	Y
	 	=
	 	The number of shares of Common Stock equal to the
aggregate price payable to exercise such rights or
warrants divided by the average of the Last
Reported Sale Prices of the Common Stock over the
10 consecutive Trading Day period ending on the
Trading Day immediately preceding the date of
announcement of the issuance of such rights or
warrants.

To the extent such rights or warrants are not exercised prior to their expiration or termination,
the Conversion Rate shall be readjusted to the Conversion Rate which would be in effect had the
adjustments made upon the issuance of such rights or warrants been made on the basis of the
delivery of only the number of shares of Common Stock actually delivered. In the event that such
rights or warrants are not so issued, the Conversion Rate shall again be adjusted to be the
Conversion Rate which would then be in effect if the date fixed for the determination of
shareholders entitled to receive such rights or warrants had not been fixed. For the purposes of
this Section 4.04(b), in determining whether any rights or warrants entitle the holders to
subscribe for or purchase shares of Common Stock at less than the average of the Last Reported Sale
Prices of Common Stock for the 10 consecutive Trading Day period ending on the Trading Day
immediately preceding the date of announcement of such issuance, and in determining the aggregate
exercise price payable for such shares of Common Stock, there shall be taken into account any
consideration received by the Company for such rights or warrants and any amount payable on the
exercise thereof, with the value of such consideration, if other than cash, as shall be determined
in good faith by the Board of Directors.

     (c) If the Company, at any time or from time to time while the Notes are outstanding,
distributes shares of any class of capital stock of the Company, evidences of its indebtedness,
other assets or property of the Company or rights or warrants to acquire the Company’s capital
stock or other securities to all or substantially all holders of its Common Stock, excluding:

21

 

     (i) dividends or distributions and rights or warrants as to which an adjustment was
effected pursuant to Section 4.04(a) or Section 4.04(b);

     (ii) dividends or distributions paid exclusively in cash; and

     (iii) Spin-Offs to which the provisions set forth below in this Section 4.04(c) shall
apply;

then the Conversion Rate shall be adjusted based on the following formula:

	 	 	 	 	 	 	 	 	 	 	 	 	 
	  
	 	CR1 
	 	= 
	 	CR0 
	 	x 
	 	SP0
 

	 	  
	 

	 	 	 	 	 	 	 	 	 	SP0 – FMV	 	 

where

	 	 	 	 	 	 	 
	 

	 	CR0
	 	=
	 	the Conversion Rate in effect immediately prior to
the opening of business on the Ex-Dividend Date
for such distribution;
	 
	 	 	 	 	 	 
	 

	 	CR1
	 	=
	 	the Conversion Rate in effect immediately after
the opening of business on such Ex-Dividend Date;
	 
	 	 	 	 	 	 
	 

	 	SP0
	 	=
	 	the average of the Last Reported Sale Prices of
the Common Stock over the 10 consecutive Trading
Day period ending on the Trading Day immediately
preceding the Ex-Dividend Date for such
distribution; and
	 
	 	 	 	 	 	 
	 

	 	FMV
	 	=
	 	the fair market value (as determined by the Board
of Directors) of the shares of capital stock,
evidences of indebtedness, assets, property,
rights or warrants distributed with respect to
each outstanding share of the Common Stock on the
Ex-Dividend Date for such distribution.

Such adjustment shall become effective immediately after the opening of business on the Ex-Dividend
Date for such distribution. If the Board of Directors determines the “FMV” (as defined above) of
any distribution for purposes of this Section 4.04(c) by reference to the actual or when issued
trading market for any securities, it must in doing so consider the prices in such market over the
same period used in computing the average of the Last Reported Sale Prices of the Common Stock.
Notwithstanding the foregoing, if “FMV” (as defined above) is equal to or greater than
“SP0” (as defined above), in lieu of the foregoing adjustment, each Holder of Notes
shall receive, at the same time and upon the same terms as holders of the Common Stock, the amount
and kind of securities and assets such Holder would have received as if such Holder owned a number
of shares of Common Stock equal to the Conversion Rate in effect immediately prior to the
Ex-Dividend Date for the distribution of the securities or assets.

With respect to an adjustment pursuant to this Section 4.04(c) where there has been a payment of a
dividend or other distribution on the Common Stock of shares of capital stock of any class or
series, or similar equity interest, of or relating to a Subsidiary or other business unit and such
dividend or distribution is listed for trading on a securities exchange (a “Spin-Off”), the
Conversion Rate shall be increased based on the following formula:

22

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	  

	 	CR1 
	 	= 
	 	CR0 
	 	x 
	 	FMV0 + MP0
 

	 	  
	 

	 	 	 	 	 	 	 	 	 	MP0	 	 

where

	 	 	 	 	 	 	 
	 

	 	CR0
	 	=
	 	the Conversion Rate in effect immediately prior
to the end of the Valuation Period (as defined
below);
	 
	 	 	 	 	 	 
	 

	 	CR1
	 	=
	 	the Conversion Rate in effect immediately after
the end of the Valuation Period;
	 
	 	 	 	 	 	 
	 

	 	FMV0
	 	=
	 	the average of the Last Reported Sale Prices of
the capital stock or similar equity interest
distributed to holders of Common Stock applicable
to one share of Common Stock (determined for
purposes of the definition of Last Reported Sale
Price as if such capital stock or similar equity
interest were the Common Stock) over the first
ten consecutive Trading Day period after, and
including, the Ex-Dividend Date of the Spin-Off
(the “Valuation Period”); and
	 
	 	 	 	 	 	 
	 

	 	MP0
	 	=
	 	the average of the Last Reported Sale Prices of
Common Stock over the Valuation Period.

The adjustment to the Conversion Rate under the preceding paragraph will occur on the last day of
the Valuation Period; provided that in respect of any conversion during the Valuation Period,
references above to ten Trading Days shall be deemed replaced with such lesser number of Trading
Days as have elapsed between the Ex-Dividend Date of such Spin-Off and the Conversion Date in
determining the applicable Conversion Rate.

     For the purposes of this Section 4.04(c) (and subject in all respects to Section 4.11), rights
or warrants distributed by the Company to all holders of its Common Stock entitling them to
subscribe for or purchase shares of the Company’s capital stock (either initially or under certain
circumstances), which rights or warrants, until the occurrence of a specified event or events (a
“Trigger Event”): (1) are deemed to be transferred with such shares of Common Stock; (2) are not
exercisable; and (3) are also issued in respect of future issuances of Common Stock, shall be
deemed not to have been distributed for purposes of this Section 4.04(c), (and no adjustment to the
Conversion Rate under this Section 4.04(c) will be required) until the occurrence of the earliest
Trigger Event, whereupon such rights and warrants shall be deemed to have been distributed and an
appropriate adjustment (if any is required) to the Conversion Rate shall be made under this Section
4.04(c). If any such right or warrant, including any such existing rights or warrants distributed
prior to the date of this Supplemental Indenture, are subject to events, upon the occurrence of
which such rights or warrants become exercisable to purchase different securities, evidences of
indebtedness or other assets, then the date of the occurrence of any and each such event shall be
deemed to be the date of distribution and Ex-Dividend Date of such deemed distribution (in which
case the original rights or warrants shall be deemed to terminate and expire on such date without
exercise by any of the holders). In addition, in the event of any distribution or deemed
distribution of rights or warrants, or any Trigger Event or other event (of the type described in
the preceding sentence) with respect

23

 

thereto that was counted for purposes of calculating a distribution amount for which an
adjustment to the Conversion Rate under this Section 4.04(c) was made, (1) in the case of any such
rights or warrants which shall all have been redeemed or purchased without exercise by any Holders
thereof, upon such final redemption or repurchase (x) the Conversion Rate shall be readjusted as if
such rights or warrants had not been issued and (y) the Conversion Rate shall then again be
readjusted to give effect to such distribution, deemed distribution or Trigger Event, as the case
may be, as though it were a cash distribution, equal to the per share redemption or purchase price
received by holders of Common Stock with respect to such rights or warrants (assuming each such
holder had retained such rights or warrants), made to all holders of Common Stock as of the date of
such redemption or purchase, and (2) in the case of such rights or warrants which shall have
expired or been terminated without exercise by any holders thereof, the Conversion Rate shall be
readjusted as if such rights and warrants had not been issued.

     For the purposes of this Section 4.04(c) and subsections (a) and (b) of this Section 4.04, any
dividend or distribution to which this Section 4.04(c) applies which also includes one or both of:

	 	(A)	 	a dividend or distribution of shares of Common Stock to which Section 4.04(a)
applies (the “Clause A Distribution”);
	 
	 	(B)	 	a dividend or distribution of rights or warrants to which Section 4.04(b)
applies (the “Clause B Distribution”),

then (1) such dividend or distribution, other than the Clause A Distribution and the Clause B
Distribution, shall be deemed to be a dividend or distribution to which this Section 4.04(c)
applies (the “Clause C Distribution”) and any Conversion Rate adjustment required by this Section
4.04(c) with respect thereto shall then be made, and (2) the Clause A Distribution and Clause B
Distribution shall be deemed to immediately follow the Clause C Distribution and any Conversion
Rate adjustment required by Section 4.04(a) and Section 4.04(b) with respect thereto shall then be
made, except that, if determined by the Company, (I) the “Ex-Dividend Date” of the Clause A
Distribution and the Clause B Distribution shall be deemed to be the Ex-Dividend Date of the Clause
C Distribution and (II) any shares of Common Stock included in the Clause A Distribution or Clause
B Distribution shall be deemed not to be “outstanding immediately prior to the opening of business
on such Ex-Dividend Date or such effective date” within the meaning of Section 4.04(a) or
“outstanding immediately prior to the opening of business on such Ex-Dividend Date” within the
meaning of Section 4.04(b).

     (d) (i) If any regular, quarterly cash dividend or distribution made to all or substantially
all holders of Common Stock during any quarterly fiscal period exceeds $0.05 (the “Initial Dividend
Threshold”), the Conversion Rate shall be adjusted based on the following formula:

	 	 	 	 	 	 	 	 	 	 	 	 	 
	  

	 	CR1 
	 	= 
	 	CR0 
	 	x 
	 	SP0
 

	 	  
	 

	 	 	 	 	 	 	 	 	 	SP0 – C	 	 

where

24

 

	 	 	 	 	 	 	 
	 

	 	CR0
	 	=
	 	The Conversion Rate in effect immediately prior to
the opening of business on the Ex-Dividend Date
for such dividend or distribution;
	 
	 	 	 	 	 	 
	 

	 	CR1
	 	=
	 	The Conversion Rate in effect immediately after
the opening of business on the Ex-Dividend Date
for such dividend or distribution;
	 
	 	 	 	 	 	 
	 

	 	SP0
	 	=
	 	The Last Reported Sale Price of the Common Stock
on the Trading Day immediately preceding the
Ex-Dividend Date for such dividend or
distribution; and
	 
	 	 	 	 	 	 
	 

	 	C
	 	=
	 	The amount in cash per share the Company
distributes to holders of the Common Stock in
excess of the Initial Dividend Threshold.

The Initial Dividend Threshold shall be adjusted in a manner inversely proportional to adjustments
to the Conversion Rate; provided that no adjustment shall be made to the Initial Dividend Threshold
for any adjustment made to the Conversion Rate pursuant to clauses (i) and (ii) of this Section
4.04(d).

     (ii) If the Company pays any cash dividend or distribution that is not a regular,
quarterly cash dividend or distribution to all or substantially all holders of Common Stock,
the Conversion Rate shall be adjusted based on the following formula:

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	CR1 
	 	= 
	 	CR0 
	 	x 
	 	SP0
 

	 	  
	 

	 	 	 	 	 	 	 	 	 	SP0 – C	 	 

where

	 	 	 	 	 	 	 
	 

	 	CR0
	 	=
	 	The Conversion Rate in effect immediately prior to
the opening of business on the Ex-Dividend Date
for such dividend or distribution;
	 
	 	 	 	 	 	 
	 

	 	CR1
	 	=
	 	The Conversion Rate in effect immediately after
the opening of business on the Ex-Dividend Date
for such dividend or distribution;
	 
	 	 	 	 	 	 
	 

	 	SP0
	 	=
	 	The Last Reported Sale Price of a share of Common
Stock on the Trading Day immediately preceding the
Ex-Dividend Date for such dividend or
distribution; and
	 
	 	 	 	 	 	 
	 

	 	C
	 	=
	 	The amount in cash per share the Company
distributes to holders of Common Stock.

In the case of an adjustment pursuant to this Section 4.04(d), such adjustment shall become
effective immediately after the opening of business on the Ex-Dividend Date for the relevant
dividend or distribution. If the portion of the cash so distributed applicable to one share of the
Common Stock is equal to or greater than the Last Reported Sale Price of a share of Common Stock on
the Trading Day immediately preceding the Ex-Dividend Date for such dividend or distribution, in
lieu of the adjustment set forth above, adequate provision shall be made so that each Holder of
Notes shall have the right to receive on the date on which such cash dividend or

25

 

distribution is distributed to holders of Common Stock, for each $1,000 principal amount of Notes,
the amount of cash such Holder would have received had such Holder owned a number of shares of
Common Stock equal to the Conversion Rate in effect immediately prior to the Ex-Dividend Date for
such distribution.

     (e) If the Company or any of its Subsidiaries makes a payment in respect of a tender offer or
exchange offer for Common Stock, to the extent that the cash and value of any other consideration
included in the payment per share of Common Stock exceeds the Last Reported Sale Price per share of
Common Stock on the Trading Day next succeeding the last date on which tenders or exchanges may be
made pursuant to such tender or exchange offer, the Conversion Rate shall be increased based on the
following formula:

	 	 	 	 	 	 	 	 	 	 	 	 	 
	  

	 	CR1 
	 	= 
	 	CR0 
	 	x 
	 	AC + (SP1 x OS1)
 

	 	  
	 

	 	 	 	 	 	 	 	 	 	OS0 x SP1	 	 

where

	 	 	 	 	 	 	 
	 

	 	CR0
	 	=
	 	the Conversion Rate in effect immediately prior to
the close of business on the 10th Trading Day
immediately following, and including, the Trading
Day next succeeding the date such tender or
exchange offer expires;
	 
	 	 	 	 	 	 
	 

	 	CR1
	 	=
	 	the Conversion Rate in effect immediately after
the close of business on the 10th Trading Day
immediately following, and including, the Trading
day next succeeding the date such tender or
exchange offer expires;
	 
	 	 	 	 	 	 
	 

	 	AC
	 	=
	 	the aggregate value of all cash and any other
consideration (as determined by the Board of
Directors) paid or payable for shares purchased in
such tender or exchange offer;
	 
	 	 	 	 	 	 
	 

	 	OS0
	 	=
	 	the number of shares of Common Stock outstanding
immediately prior to the date such tender or
exchange offer expires;
	 
	 	 	 	 	 	 
	 

	 	OS1
	 	=
	 	the number of shares of Common Stock outstanding
immediately after the date such tender or exchange
offer expires (after giving effect to, for the
avoidance of doubt, the purchase of all shares
accepted for purchase or exchange in such tender
or exchange offer); and
	 
	 	 	 	 	 	 
	 

	 	SP1
	 	=
	 	the average of the Last Reported Sale Prices of
Common Stock over the 10 consecutive Trading Day
period commencing on the Trading Day next
succeeding the date such tender or exchange offer
expires.

The adjustment to the Conversion Rate under this Section 4.04(e) shall occur as of the close of
business on the tenth Trading Day from, and including, the Trading Day next succeeding the date
such tender or exchange offer expires; provided that in respect of any conversion within 10 Trading
Days immediately following, and including, the expiration date of any tender or exchange offer,
references with respect to 10 Trading Days shall be deemed replaced with such

26

 

lesser number of Trading Days as have elapsed between the expiration date of such tender or
exchange offer and the Conversion Date in determining the applicable Conversion Rate.

     (f) The Company from time to time may increase the Conversion Rate by any amount for any
period of time of at least 20 Business Days, so long as the increase is irrevocable during the
period and the Board of Directors shall have made a determination that such increase would be in
the best interests of the Company, which determination shall be conclusive. Whenever the
Conversion Rate is increased pursuant to this Section 4.04(f), the Company shall mail to Holders of
record of the Notes a notice of the increase at least one day prior to the date the increased
Conversion Rate takes effect, and such notice shall state the increased Conversion Rate and the
period during which it will be in effect.

     (g) The Company may (but shall not be required to) increase the Conversion Rate, in addition
to any adjustments pursuant to Section 4.04(a), 4.04(b), 4.04(c), 4.04(d), 4.04(e) or 4.04(f), if
the Board of Directors considers such increase to be advisable to avoid or diminish any income tax
to holders of Common Stock or rights to purchase Common Stock in connection with a dividend or
distribution of shares (or rights to acquire shares) or similar event.

     (h) All calculations under this Article 4 shall be made by the Company and shall be made to
the nearest cent (including, in the case of any adjustment to the Conversion Rate, the resulting
adjustment to the Conversion Price) or to the nearest one ten-thousandth of a share. No adjustment
shall be required to be made for the Company’s issuance of Common Stock or any securities
convertible into or exchangeable for shares of Common Stock or rights to purchase shares of Common
Stock or such convertible or exchangeable securities, other than as provided in this Section 4.04
and in Section 4.11 hereof.

     (i) Whenever the Conversion Rate is adjusted as herein provided, the Company shall promptly
file with the Trustee and any Conversion Agent an Officers’ Certificate setting forth the
Conversion Rate after such adjustment and setting forth a brief statement of the facts requiring
such adjustment. Unless and until a Responsible Officer of the Trustee shall have received such
Officers’ Certificate, the Trustee shall not be deemed to have knowledge of any adjustment of the
Conversion Rate and may assume without inquiry that the last Conversion Rate of which it has
knowledge is still in effect. Promptly after delivery of such certificate, the Company shall
prepare a notice of such adjustment of the Conversion Rate setting forth the adjusted Conversion
Rate and the date on which each adjustment becomes effective and shall mail such notice of such
adjustment of the Conversion Rate to each Holder of the Notes. Failure to deliver such notice
shall not affect the legality or validity of any such adjustment.

     (j) For purposes of this Section 4.04, the number of shares of Common Stock at any time
outstanding shall not include shares held in the treasury of the Company so long as the Company
does not pay any dividend or make any distribution on shares of Common Stock held in the treasury
of the Company, but shall include shares issuable in respect of scrip certificates issued in lieu
of fractions of shares of Common Stock.

     (k) Notwithstanding the foregoing, if the application of the foregoing formulas set forth in
this Section 4.04 would result in a decrease in the Conversion Rate, no adjustment to the
Conversion Rate shall be made (other than as a result of a share combination).

27

 

     (l) Notwithstanding anything to the contrary in this Article 4, no adjustment to the
Conversion Rate shall be made:

     (i) upon the issuance of any shares of Common Stock pursuant to any present or future
plan providing for the reinvestment of dividends or interest payable on the Company’s
securities and the investment of additional optional amounts in shares of Common Stock under
any plan;

     (ii) upon the issuance of any shares of Common Stock or options or rights to purchase
those shares pursuant to any present or future employee, director or consultant benefit plan
or program of or assumed by the Company or any of its Subsidiaries;

     (iii) upon the issuance of any shares of Common Stock pursuant to any option, warrant,
right or exercisable, exchangeable or convertible security not described in clause (ii)
above and outstanding as of the date the Notes were first issued;

     (iv) for a change in the par value of the Common Stock; or

     (v) for accrued and unpaid interest on the Notes.

     (m) The Company shall not be required to make an adjustment in the Conversion Rate unless the
adjustment would require a change of at least 1% in the Conversion Rate. However, the Company will
carry forward any adjustments that are less than 1% of the Conversion Rate and make such carried
forward adjustment, regardless of whether the aggregate adjustment is less than 1%, (i) upon any
Conversion Date of Notes and (ii) on each Trading Day of any Observation Period.

     SECTION 4.05. Certain Other Adjustments. Whenever a provision of this Supplemental Indenture
requires the calculation of Last Reported Sale Prices or Daily VWAP over a span of multiple days,
the Board of Directors will make appropriate adjustments to such Last Reported Sale Prices or Daily
VWAP, the Conversion Rate, or the amount due upon conversion to account for any adjustment to the
Conversion Rate that becomes effective, or any event requiring an adjustment to the Conversion Rate
where the Ex-Dividend Date of the event occurs, at any time during the period from which such Last
Reported Sale Prices or Daily VWAP are to be calculated.

     SECTION 4.06. Adjustments Upon Certain Fundamental Changes. (a) If a Make-Whole Fundamental
Change occurs and a Holder elects to convert its Notes in connection with such Make-Whole
Fundamental Change, the Company shall, under certain circumstances, increase the Conversion Rate
for the Notes so surrendered for conversion by a number of additional shares of Common Stock (the
“Additional Shares”) as described below. A conversion of Notes shall be deemed for these purposes
to be “in connection with” such Make-Whole Fundamental Change if the notice of conversion of the
Notes is received by the Conversion Agent from, and including, the Effective Date of the Make-Whole
Fundamental Change up to, and including, the Business Day immediately prior to the related
Fundamental Change Purchase Date (or, in the case of an event that would have been a Fundamental
Change but for the proviso in clause (2) of the definition thereof, the 35th Trading Day
immediately following the Effective Date of such Make-Whole Fundamental Change).

28

 

     (b) Upon surrender of Notes for conversion in connection with a Make-Whole Fundamental Change,
the Company shall have the right to deliver, in lieu of shares of Common Stock, including the
Additional Shares, cash or a combination of cash and shares of Common Stock as provided under
Section 4.01(a)(iv); provided, however, that if, at the effective time of a Make-Whole Fundamental
Change, the Reference Property is comprised entirely of cash, then, for any conversion of Notes
following the effective date of such Make-Whole Fundamental Change, the amounts deliverable by the
Company shall be calculated based solely on the “Stock Price” (as defined below) for the Make-Whole
Fundamental Change and shall be deemed to be an amount equal to the Conversion Rate (including any
adjustment for Additional Shares) multiplied by such Stock Price. In such event, the amounts
deliverable by the Company shall be determined and paid to holders in cash on the third Business
Day following the Conversion Date.

     (c) The number of Additional Shares, if any, by which the Conversion Rate will be increased
will be determined by reference to the table attached as Schedule A hereto, based on the date on
which the Make-Whole Fundamental Change occurs or becomes effective (the “Effective Date”) and the
price (the “Stock Price”) paid (or deemed paid) per share of the Common Stock in the Fundamental
Change. If the holders of the Common Stock receive only cash in a Make-Whole Fundamental Change
described in clause (2) of the definition of Fundamental Change, the Stock Price shall be the cash
amount paid per share. Otherwise, the Stock Price shall be the average of the Last Reported Sale
Prices of the Common Stock over the ten Trading-Day period ending on, and including, the Trading
Day preceding the Effective Date of the Make-Whole Fundamental Change.

     The exact Stock Prices and Effective Dates may not be set forth in the table in Schedule
A, in which case:

     (i) If the Stock Price is between two Stock Prices in the table or the Effective Date
is between two Effective Dates in the table, the number of Additional Shares shall be
determined by a straight-line interpolation between the number of Additional Shares set
forth for the higher and lower Stock Prices and the earlier and later Effective Dates, as
applicable, based on a 365-day year.

     (ii) If the Stock Price is greater than $60.00 per share (subject to adjustment in the
same manner as the Stock Prices set forth in the column headings of the table in Schedule A
pursuant to subsection (d) below), no Additional Shares shall be added to the Conversion
Rate.

     (iii) If the Stock Price is less than $6.62 per share (subject to adjustments in the
same manner as the Stock Prices set forth in the column headings of the table in Schedule A
pursuant to subsection (d) below), no Additional Shares shall be added to the Conversion
Rate.

     Notwithstanding the foregoing, in no event shall the Conversion Rate exceed 151.0574 shares of
Common Stock per $1,000 principal amount of Notes, subject to adjustments in the same manner as the
Conversion Rate as set forth in Section 4.04.

     (d) The Stock Prices set forth in the column headings of the table in Schedule A hereto shall
be adjusted as of any date on which the Conversion Rate of the Notes is otherwise

29

 

adjusted. The adjusted Stock Prices shall equal the Stock Prices applicable immediately prior
to such adjustment, multiplied by a fraction, the numerator of which is the Conversion Rate
immediately prior to such adjustment giving rise to the Stock Price adjustment and the denominator
of which is the Conversion Rate as so adjusted. The number of Additional Shares set forth in such
table shall be adjusted in the same manner as the Conversion Rate as set forth in Section 4.04.

     (e) The Company shall notify the Holders of Notes of the Effective Date of any Make-Whole
Fundamental Change and issue a press release announcing such Effective Date no later than five
business days after such Effective Date.

     SECTION 4.07. Effect of Recapitalization, Reclassification, Consolidation, Merger or Sale.

     (a) If any of the following events occur:

     (i) any recapitalization or reclassification of, or change in, the Common Stock (other
than changes resulting from a subdivision or combination);

     (ii) a consolidation, merger or combination involving the Company; or

     (iii) a sale, lease or other transfer to a third party of the consolidated assets of
the Company and its Subsidiaries substantially as an entirety; or

     (iv) any statutory share exchange;

in each case as a result of which the Common Stock would be converted into, or exchanged for, or
would be reclassified or changed into, stock, other securities, other property or assets (including
cash or any combination thereof) (any such event, a “Merger Event”), then at the effective time of
such Merger Event, the Company or the successor or purchasing Person, as the case may be, shall
execute with the Trustee a supplemental indenture (which shall comply with the Trust Indenture Act
as in force at the date of execution of such supplemental indenture) providing that at and after
the effective time of such Merger Event, the right to convert a Note will be changed into a right
to convert such Note as set forth in this Indenture into the kind and amount of shares of stock,
other securities or other property or assets (including cash or any combination thereof) that a
holder of a number of shares of Common Stock equal to the Conversation Rate prior to such Merger
Event would have owned or been entitled to receive (the “Reference Property”, with each “unit of
Reference Property” meaning the type and amount of Reference Property that a holder of one share of
Common Stock is entitled to receive) upon such Merger Event; provided, however, that at and after
the effective time of the Merger Event the conversion obligation shall be calculated and settled in
accordance with Section 4.03 such that (i) the amount payable in cash upon conversion of the Notes
as set forth under Section 4.03 will continue to be payable in cash, (ii) the number of shares of
Common Stock (if the Company does not elect to pay cash in lieu of all such shares) deliverable
upon conversion of the Notes under Section 4.03 will be instead deliverable in the amount and type
of Reference Property that a holder of that number of shares of Common Stock would have been
entitled to receive in such Merger Event and (iii) the Daily VWAP will be calculated based on the
value of a unit of Reference Property.

30

 

     If, as a result of the Merger Event, each share of Common Stock is converted into the right
to receive more than a single type of consideration (determined based in part upon any form of
stockholder election), then (x) the Reference Property into which the Notes will be convertible
will be deemed to be the weighted average of the types and amounts of consideration received by the
holders of Common Stock that affirmatively make such an election, and (y) the unit of Reference
Property for purposes of the foregoing sentence shall refer to the consideration referred to in
clause (x) attributable to one share of Common Stock.

     The Company shall not become a party to any such Merger Event unless its terms are consistent
with this Section 4.07. Such supplemental indenture shall provide for adjustments which shall be
as nearly equivalent as may be practicable to the adjustments provided for in this Article 4 in the
judgment of the Board of Directors or the board of directors of the successor Person. If, in the
case of any such recapitalization, reclassification, change, consolidation, merger, combination,
sale, lease, other transfer or statutory share exchange, the Reference Property receivable
thereupon by a holder of Common Stock includes shares of stock, securities or other property or
assets (including cash or any combination thereof) of a Person other than the successor or
purchasing Person, as the case may be, in such reorganization, reclassification, change,
consolidation, merger, combination, sale, lease, other transfer or statutory share exchange, then
such supplemental indenture shall also be executed by such other Person.

     (b) The Company shall cause notice of the execution of such supplemental indenture to be
mailed to each Holder, at the address of such Holder as it appears on the register of the Notes
maintained by the Registrar, within 20 days after execution thereof. Failure to deliver such
notice shall not affect the legality or validity of such supplemental indenture. The above
provisions of this Section 4.07 shall similarly apply to successive reclassifications, changes,
consolidations, mergers, combinations, sales and conveyances. If this Section 4.07 applies to any
Merger Event, Section 4.04 shall not apply.

     (c) In connection with any Merger Event, the Initial Dividend Threshold will subject to
adjustment as described in clause (i), clause (ii) or clause (iii) below, as the case may be.

     (i) In the case of a Merger Event in which the Reference Property (determined, as
appropriate, pursuant to the second paragraph of subsection (a) above and excluding any
dissenters’ appraisal rights) is composed entirely of shares of common stock (the “Merger
Common Stock”), the Initial Dividend Threshold at and after the effective time of such
Merger Event will be equal to (x) the Initial Dividend Threshold immediately prior to the
effective time of such Merger Event, divided by (y) the number of shares of Merger Common
Stock that a holder of one share of Common Stock would receive in such Merger Event (such
quotient rounded down to nearest cent).

     (ii) In the case of a Merger Event in which the Reference Property (determined, as
appropriate, pursuant to the second paragraph of subsection (a) above and excluding any
dissenters’ appraisal rights) is composed in part of shares of Merger Common Stock, the
Initial Dividend Threshold at and after the effective time of such Merger Event will be
equal to (x) the Initial Dividend Threshold immediately prior to the effective time of such
Merger Event, multiplied by (y) the Merger Valuation Percentage for such Merger Event (such
quotient rounded down to nearest cent).

31

 

     (iii) For the avoidance of doubt, in the case of a Merger Event in which the Reference
Property (determined, as appropriate, pursuant to the second paragraph of subsection (a)
above and excluding any dissenters’ appraisal rights) is composed entirely of consideration
other than shares of common stock, the Initial Dividend Threshold at and after the effective
time of such Merger Event will be equal to zero.

     (d) For purposes of subsection (c) of this Section 4.07, the following terms shall have the
following meanings:

     (i) The “Merger Valuation Percentage” for any Merger Event shall be equal to (x) the
arithmetic average of the Last Reported Sale Prices of one share of such Merger Common Stock
over the relevant Merger Valuation Period (determined as if references to “Common Stock” in
the definition of “Last Reported Sale Price” were references to the “Merger Common Stock”
for such Merger Event), divided by (y) the arithmetic average of the Last Reported Sale
Prices of one share of Common Stock over the relevant Merger Valuation Period.

     (ii) The “Merger Valuation Period” for any Merger Event means the five consecutive
Trading Day period immediately preceding, but excluding, the effective date for such Merger
Event.

     SECTION 4.08. Taxes on Shares Issued. The Company will pay any documentary, stamp or similar
issue or transfer tax due on the issue or delivery of shares of Common Stock on conversion of Notes
pursuant hereto; provided, however, that if such documentary, stamp or similar issue or transfer
tax is due because the Holder of such Notes has requested that shares of Common Stock be issued in
a name other than that of the Holder of the Notes converted, then such taxes will be paid by the
Holder, and the Company shall not be required to issue or deliver any stock certificate evidencing
such shares unless and until the Holder shall have paid to the Company the amount of such tax or
shall have established to the satisfaction of the Company that such tax has been paid.

     SECTION 4.09. Reservation of Shares; Shares to be Fully Paid; Compliance With Governmental
Requirements; Listing of Common Stock. The Company shall reserve, out of its authorized but
unissued shares or shares held in treasury, sufficient shares of Common Stock to satisfy conversion
of the Notes from time to time as such Notes are presented for conversion (assuming that, at the
time of the computation of such number of shares or securities, all such Notes would be converted
by a single Holder).

     The Company covenants that all shares of Common Stock that may be issued upon conversion of
Notes shall be newly issued shares or treasury shares, shall be duly authorized, validly issued,
fully paid and non-assessable and shall be free from preemptive rights and free from any tax, lien
or charge (other than those created by the Holder).

     The Company shall list or cause to have quoted any shares of Common Stock to be issued upon
conversion of Notes on each national securities exchange or over-the-counter or other domestic
market on which the Common Stock is then listed or quoted.

32

 

     SECTION 4.10. Responsibility of Trustee. The Trustee and any Conversion Agent shall not at
any time be under any duty or responsibility to any Holder of Notes to determine or calculate the
Conversion Rate, to determine whether any facts exist which may require any adjustment of the
Conversion Rate, or to confirm the accuracy of any such adjustment when made or the appropriateness
of the method employed, or herein or in any supplemental indenture provided to be employed, in
making the same. The Trustee and any other Conversion Agent shall not be accountable with respect
to the validity or value (or the kind or amount) of any shares of Common Stock or of any other
securities or property that may at any time be issued or delivered upon the conversion of any
Notes; and the Trustee and the Conversion Agent make no representations with respect thereto.
Neither the Trustee nor any Conversion Agent shall be responsible for any failure of the Company to
issue, transfer or deliver any shares of Common Stock or stock certificates or other securities or
property or cash upon the surrender of any Notes for the purpose of conversion or to comply with
any of the duties, responsibilities or covenants of the Company contained in this Article 4. The
rights, privileges, protections, immunities and benefits given to the Trustee, including without
limitation its right to be compensated, reimbursed, and indemnified, are extended to, and shall be
enforceable by, the Trustee in each of its capacities hereunder, including its capacity as
Conversion Agent and if it is so appointed by the Company and accepts such appointment, as Bid
Solicitation Agent.

     SECTION 4.11. Notice to Holders Prior to Certain Actions. In case:

     (a) the Company shall declare a dividend (or any other distribution) on its Common Stock that
would require an adjustment in the Conversion Rate pursuant to Section 4.04; or

     (b) the Company shall authorize the granting to the holders of all or substantially all of its
Common Stock of rights or warrants to subscribe for or purchase any share of any class or any other
rights or warrants that would require an adjustment in the Conversion Rate pursuant to Section 4.04
or Section 4.12 hereof; or

     (c) of any reclassification or reorganization of the Common Stock of the Company (other than a
subdivision or combination of its outstanding Common Stock, or a change in par value, or from par
value to no par value, or from no par value to par value), or of any consolidation or merger to
which the Company is a party and for which approval of any stockholders of the Company is required,
or of the sale, lease or transfer of all or substantially all of the assets of the Company and its
consolidated Subsidiaries; or

     (d) of the voluntary or involuntary dissolution, liquidation or winding up of the Company or
any of its Subsidiaries;

then, in each case (unless notice of such event is otherwise required pursuant to another provision
of this Supplemental Indenture), the Company shall cause to be filed with the Trustee and the
Conversion Agent and to be mailed to each Holder of Notes at such Holder’s address appearing on a
list of Holders of Notes, which the Company shall provide to the Trustee, as promptly as
practicable but in any event at least 10 days prior to the applicable date hereinafter specified, a
notice stating (x) the date on which a record is to be taken for the purpose of such dividend (or
any other distribution) or rights or warrants, or, if a record is not to be taken, the date as of
which the holders of Common Stock of record to be entitled to such dividend,

33

 

distribution or rights or warrants are to be determined, or (y) the date on which such
reclassification, reorganization, consolidation, merger, sale, lease, transfer, dissolution,
liquidation or winding up is expected to become effective or occur, and the date as of which it is
expected that holders of Common Stock of record shall be entitled to exchange their Common Stock
for securities or other property deliverable upon such reclassification, reorganization,
consolidation, merger, sale, transfer, dissolution, liquidation or winding up. Failure to give
such notice, or any defect therein, shall not affect the legality or validity of such dividend (or
any other distribution), reclassification, reorganization, consolidation, merger, sale, transfer,
dissolution, liquidation or winding up.

     SECTION 4.12. Stockholder Rights Plan. Each share of Common Stock issued upon conversion of
Notes pursuant to this Article 4 shall be entitled to receive the appropriate number of rights, if
any, and the certificates representing the Common Stock issued upon such conversion shall bear such
legends, if any, in each case as may be provided by the terms of any stockholder rights plan
adopted by the Company, as the same may be amended from time to time. Notwithstanding the
foregoing, if prior to any conversion such rights have separated from the shares of Common Stock in
accordance with the provisions of the applicable stockholder rights agreement, the Conversion Rate
shall be adjusted at the time of separation as if the Company had distributed to all holders of the
Common Stock, shares of the Company’s capital stock, evidences of indebtedness, assets, property,
rights or warrants as described in Section 4.04(c) above, subject to readjustment in the event of
the expiration, termination or redemption of such rights.

ARTICLE 5

REMEDIES

     SECTION 5.01. Events of Default. In addition to the Events of Default specified in Section
501 of the Original Indenture, each of the following events shall be an “Event of Default” wherever
used herein with respect to the Notes :

     (a) failure by the Company to comply with its obligation to convert the Notes in accordance
with the Indenture upon exercise of a Holder’s conversion right in accordance with Article 4
hereof;

     (b) failure by the Company to provide a Fundamental Change Company Notice pursuant to Section
3.01(b) or notice of a specified corporate transaction required by Section 4.01(a)(iii) or Section
4.01(a)(iv) in accordance with the relevant Section, in each case when due;

     (c) failure by the Company to comply with its obligations under Section 801 of the Original
Indenture; and

     (d) a final judgment for the payment of $50 million or more (excluding any amounts covered by
insurance) rendered against the Company or any Principal Subsidiary, which judgment is not
discharged or stayed within 60 days after (i) the date on which the right to appeal or petition for
review thereof has expired if no such appeal or review has commenced or (ii) the date on which all
rights to appeal or petition for review have been extinguished.

34

 

     SECTION 5.02. Additional Interest. Notwithstanding any provisions of the Indenture to the
contrary, if the Company so elects, the sole remedy for an Event of Default relating to any
obligation to file documents and reports with the Trustee as required by Section 314(a)(1) of the
Trust Indenture Act, Section 2.04 of this Supplemental Indenture, or Section 703 of the Original
Indenture shall for the first 180 days following the occurrence of such Event of Default consist
exclusively of the right to receive additional interest on the Notes equal to 0.50% of the
principal amount of the Notes (“Additional Interest”). In order to elect to pay Additional
Interest as the sole remedy during the first 180 days after the occurrence of an Event of Default
described in the preceding sentence, the Company must (i) give notice to Holders of the Notes, the
Trustee and the Paying Agent of such election on or before the close of business on the 5th
Business Day after the date on which such Event of Default occurs and (ii) pay such Additional
Interest on or before the date on which such Event of Default first occurs. Upon the failure to
timely give all Holders, the Trustee and the Paying Agent such notice or to pay such Additional
Interest, the Notes will be subject to immediate acceleration as provided in Section 502 of the
Original Indenture. On the 180th day after such Event of Default occurs (if such Event of Default
is not cured or waived prior to such 180th day), the Notes shall be subject to acceleration as
provided in Section 502 of the Original Indenture. This Section 5.02 shall not affect the rights
of Holders of Notes in the event of the occurrence of any other Event of Default. Whenever in the
Indenture there is mentioned, in any context, the payment of interest on, or in respect of, any
Note, such mention shall be deemed to include mention of the payment of Additional Interest
provided for in this Section 5.02 to the extent that, in such context, Additional Interest is, was
or would be payable in respect thereof pursuant to the provisions of this Section 5.02, and express
mention of the payment of Additional Interest (if applicable) in any provision shall not be
construed as excluding Additional Interest in those provisions where such express mention is not
made.

     SECTION 5.03. Company Compliance Certificates and Notice of Defaults. In addition to any
obligations of the Company under Section 703 of the Original Indenture, the Company shall deliver
to the Trustee, (i) within 120 days after the end of each fiscal year, an Officers’ Certificate
indicating whether or not the signers thereof have knowledge of the occurrence of any Event of
Default under the Indenture during such fiscal year, and (ii) within 5 days after the occurrence
thereof, written notice of any events that would constitute an Event of Default under the
Indenture, the status of such events and the action that the Company is taking or proposes to take
in respect thereof.

ARTICLE 6

SATISFACTION AND DISCHARGE

     SECTION 6.01. Satisfaction and Discharge of the Supplemental Indenture. (a) The satisfaction
and discharge provisions set forth in this Article 6 shall, with respect to the Notes, supersede in
their entirety Articles 4 and 14 of the Original Indenture, and all references in the Original
Indenture to Articles 4 and 14 thereof and satisfaction and discharge provisions therein, as the
case may be, shall, with respect to the Notes, be deemed to be references to this Article 6 and the
satisfaction and discharge provisions set forth in this Article 6, respectively. When (i) the
Company shall deliver to the Registrar for cancellation all Notes theretofore authenticated (other
than any Notes that have been destroyed, lost or stolen and in lieu of or in substitution for which
other Notes shall have been authenticated and delivered) and not theretofore canceled, or (ii) all
the Notes not theretofore canceled or delivered to the Trustee for cancellation shall have

35

 

become due and payable (whether at Stated Maturity for the payment of the principal amount
thereof, on any Fundamental Change Purchase Date or following the last day of the applicable
Observation Period upon conversion or otherwise) and the Company shall deposit with the Trustee, in
trust, or deliver to the Holders, as applicable, cash funds and shares of Common Stock, as
applicable, sufficient to pay all amounts due (and shares of Common Stock deliverable following
conversion, if applicable) on all of such Notes (other than any Notes that shall have been
mutilated, destroyed, lost or stolen and in lieu of or in substitution for which other Notes shall
have been authenticated and delivered) not theretofore canceled or delivered to the Trustee for
cancellation, including principal and interest due, accompanied, except in the event the Notes are
due and payable solely in cash at the Stated Maturity of the Notes or upon an earlier Fundamental
Change Purchase Date, by a verification report as to the sufficiency of the deposited amount from
an independent certified accountant or other financial professional reasonably satisfactory to the
Trustee (which may include any of the Underwriters), and if the Company shall also pay or cause to
be paid all other sums payable hereunder by the Company, then this Supplemental Indenture shall
cease to be of further effect (except as to (A) rights hereunder of Holders of the Notes to receive
all amounts owing upon the Notes and the other rights, duties and obligations of Holders of the
Notes, as beneficiaries hereof with respect to the amounts, if any, so deposited with the Trustee
and (B) the rights, obligations and immunities of the Trustee hereunder), and the Trustee, on
written demand of the Company accompanied by an Officers’ Certificate and an Opinion of Counsel as
required by Section 102 of the Original Indenture and at the cost and expense of the Company, shall
execute proper instruments acknowledging satisfaction and discharge of this Supplemental Indenture;
the Company, however, hereby agrees to reimburse the Trustee for any costs or expenses thereafter
reasonably and properly incurred by the Trustee, including the fees and expenses of its counsel,
and to compensate the Trustee for any services thereafter reasonably and properly rendered by the
Trustee in connection with this Supplemental Indenture or the Notes.

     SECTION 6.02. Deposited Monies to Be Held in Trust by Trustee. Subject to Section 6.04, all
monies deposited with the Trustee pursuant to Section 6.01 shall be held in trust for the sole
benefit of the Holders of the Notes, and such monies shall be applied by the Trustee to the
payment, either directly or through any Paying Agent (including the Company if acting as its own
Paying Agent), to the Holders of the particular Notes for the payment or redemption of which such
monies have been deposited with the Trustee, of all sums due and to become due thereon for
principal and interest, if any.

     SECTION 6.03. Paying Agent to Repay Monies Held. Upon the satisfaction and discharge of this
Indenture, all monies then held by any Paying Agent (if other than the Trustee) shall, upon written
request of the Company, be repaid to it or paid to the Trustee, and thereupon such Paying Agent
shall be released from all further liability with respect to such monies.

     SECTION 6.04. Return of Unclaimed Monies. Subject to the requirements of applicable law, any
monies deposited with or paid to the Trustee for payment of the principal of or interest, if any,
on the Notes and not applied but remaining unclaimed by the Holders of the Notes for two years
after the date upon which the principal of or interest, if any, on such Notes, as the case may be,
shall have become due and payable, shall be repaid to the Company by the Trustee on demand, and all
liability of the Trustee shall thereupon cease with respect to such monies; and the Holder of any
of the Notes shall thereafter look only to the Company for any

36

 

payment that such Holder of the Notes may be entitled to collect unless an applicable
abandoned property law designates another Person.

     SECTION 6.05. Reinstatement. If the Trustee or the Paying Agent is unable to apply any money
in accordance with Section 6.02 by reason of any order or judgment of any court or governmental
authority enjoining, restraining or otherwise prohibiting such application, the Company’s
obligations under the Indenture and the Notes shall be revived and reinstated as though no deposit
had occurred pursuant to Section 6.01 until such time as the Trustee or the Paying Agent is
permitted to apply all such money in accordance with Section 6.02; provided, however, that if the
Company makes any payment of interest on or principal of any Note following the reinstatement of
its obligations, the Company shall be subrogated to the rights of the Holders of such Notes to
receive such payment from the money held by the Trustee or Paying Agent.

ARTICLE 7

SUPPLEMENTAL INDENTURES

     SECTION 7.01. Amendments or Supplements Without Consent of Holders. In addition to any
permitted amendment or supplement to the Indenture pursuant to Section 901 of the Original
Indenture, the Company and the Trustee may amend or supplement the Indenture or the Notes without
notice to or the consent of any Holder of the Notes:

     (a) to add guarantees with respect to the Notes;

     (b) to conform this Supplemental Indenture and the form or terms of the Notes to the section
entitled “Description of Notes” as set forth in the final prospectus supplement related to the
offering and sale of the Notes dated March 24, 2009; or

     (c) to comply with their obligations to execute and deliver a supplemental indenture pursuant
to the provisions of Section 4.07 of this Supplemental Indenture.

     SECTION 7.02. Amendments, Supplements or Waivers With Consent of Holders. The Company and the
Trustee may amend the Indenture with respect to the Notes and the Notes as provided in Sections 901
and 902 of the Original Indenture. Notwithstanding the foregoing provision and in addition to the
provisions of Section 902 of the Original Indenture, without the consent of each Holder of an
outstanding Note affected thereby, no amendment or waiver, including a waiver in relation to a past
Event of Default, may:

     (a) make any change that adversely affects the conversion rights of any Notes; or

     (b) reduce any Fundamental Change Purchase Price or amend or modify in any manner adverse to
the Holders of Notes the Company’s obligation to make any such payment, whether through an
amendment or waiver of provisions in the covenants or definitions related thereto or otherwise.

37

 

ARTICLE 8

INAPPLICABLE PROVISIONS OF THE ORIGINAL INDENTURE

     SECTION 8.01. Limitations on Liens. The provisions of Section 1007 of the Original Indenture
shall not apply to the Notes.

ARTICLE 9

MISCELLANEOUS

     SECTION 9.01. Governing Law. THE LAWS OF THE STATE OF NEW YORK SHALL GOVERN THIS SUPPLEMENTAL
INDENTURE AND EACH OF THE NOTES.

     SECTION 9.02. Payments on Business Days. If any Interest Payment Date or the Stated Maturity
of the Notes or any earlier required repurchase date would fall on a day that is not a Business
Day, the required payment shall be made on the next succeeding Business Day and no interest on such
payment shall accrue in respect of the delay.

     SECTION 9.03. No Security Interest Created. Nothing in this Supplemental Indenture or in the
Notes, expressed or implied, shall be construed to constitute a security interest under the Uniform
Commercial Code or similar legislation, as now or hereafter enacted and in effect, in any
jurisdiction.

     SECTION 9.04. Trust Indenture Act. This Supplemental Indenture is hereby made subject to, and
shall be governed by, the provisions of the Trust Indenture Act required to be part of and to
govern indentures qualified under the Trust Indenture Act. If any provision hereof limits,
qualifies or conflicts with another provision hereof or the Original Indenture that is required to
be included in an indenture qualified under the Trust Indenture Act, such required provision shall
control.

     SECTION 9.05. Benefits of Indenture. Nothing in this Supplemental Indenture or in the Notes,
expressed or implied, shall give to any Person, other than the parties hereto, any Paying Agent,
any Conversion Agent, any Bid Solicitation Agent, any authenticating agent, any Registrar and their
successors hereunder or the Holders of the Notes, any benefit or any legal or equitable right,
remedy or claim under this Supplemental Indenture.

     SECTION 9.06. Calculations. Except as otherwise provided in this Supplemental Indenture, the
Company shall be responsible for making all calculations called for under the Notes. These
calculations include, but are not limited to, determinations of any Last Reported Sale Price of the
Common Stock, accrued interest payable on the Notes and the Conversion Rate. The Company shall
make all these calculations in good faith and, absent manifest error, the Company’s calculations
shall be final and binding on Holders of Notes. The Company shall provide a schedule of its
calculations to each of the Trustee and the Conversion Agent (if different than the Trustee), and
each of the Trustee and Conversion Agent (if different than the Trustee) is entitled to rely
conclusively upon the accuracy of the Company’s calculations without independent verification. The
Trustee will forward the Company’s calculations to any Holder of Notes upon the request of that
Holder at the sole cost and expense of the Company.

38

 

     SECTION 9.07. Table of Contents, Headings, Etc. The table of contents and the titles and
headings of the articles and sections of this Supplemental Indenture have been inserted for
convenience of reference only, are not to be considered a part hereof, and shall in no way modify
or restrict any of the terms or provisions hereof.

     SECTION 9.08. Execution in Counterparts. This Supplemental Indenture may be executed in any
number of counterparts, each of which shall be an original, but such counterparts shall together
constitute but one and the same instrument.

     SECTION 9.09. Severability. In the event any provision of this Supplemental Indenture or in
the Notes shall be invalid, illegal or unenforceable, then (to the extent permitted by law) the
validity, legality or enforceability of the remaining provisions shall not in any way be affected
or impaired.

[Remainder of the page intentionally left blank]

39

 

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

	 	 	 	 	 
	 	NEWELL RUBBERMAID INC.

 	 
	 	By:  	/s/
Dale L. Metz 	 
	 	 	Name:  	Dale L. Metz 	 
	 	 	Title:  	Vice President, Treasurer 	 
	 

[Trustee Signature Follows]

 

 

	 	 	 	 	 
	 	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as
Trustee

 	 
	 	By:  	
/s/ A. Hernandez 	 
	 	 	Name:  	A. Hernandez 	 
	 	 	Title:  	Assistant Treasurer 	 
	 

 

 

SCHEDULE A

The following table sets forth the amount, if any, by which the Conversion Rate per $1,000
principal amount of Notes will increase pursuant to Section 4.06 of this Supplemental Indenture for
each Stock Price and Effective Date set forth below:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Stock Price
	Effective Date	 	$6.62	 	$7.00	 	$8.00	 	$9.00	 	$10.00	 	$15.00	 	$20.00	 	$30.00	 	$40.00	 	$60.00
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	March 30, 2009
	 	 	34.8594	 	 	 	30.6396	 	 	 	22.7911	 	 	 	17.9856	 	 	 	14.9102	 	 	 	8.7127	 	 	 	6.4871	 	 	 	4.3548	 	 	 	3.2887	 	 	 	2.2227	 
	March 15, 2010
	 	 	34.8594	 	 	 	29.8225	 	 	 	21.2184	 	 	 	16.1056	 	 	 	12.9676	 	 	 	7.2666	 	 	 	5.4111	 	 	 	3.6374	 	 	 	2.7492	 	 	 	1.8604	 
	March 15, 2011
	 	 	34.8594	 	 	 	28.9559	 	 	 	19.3749	 	 	 	13.8717	 	 	 	10.6818	 	 	 	5.6598	 	 	 	4.2178	 	 	 	2.8362	 	 	 	2.1429	 	 	 	1.4487	 
	March 15, 2012
	 	 	34.8594	 	 	 	27.8872	 	 	 	17.0190	 	 	 	11.0391	 	 	 	7.8544	 	 	 	3.8531	 	 	 	2.8725	 	 	 	1.9186	 	 	 	1.4410	 	 	 	0.9612	 
	March 15, 2013
	 	 	34.8594	 	 	 	26.6591	 	 	 	13.1722	 	 	 	6.9058	 	 	 	4.1841	 	 	 	2.0141	 	 	 	1.5208	 	 	 	1.0284	 	 	 	0.7814	 	 	 	0.5288	 
	March 15, 2014
	 	 	34.8594	 	 	 	26.6591	 	 	 	8.8020	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 

 

 

EXHIBIT A

[FORM OF FACE OF NOTE]

THIS NOTE IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS
REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE OF A DEPOSITARY. THIS NOTE IS EXCHANGEABLE FOR
NOTES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE
LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND NO TRANSFER OF THIS NOTE (OTHER THAN A
TRANSFER OF THIS NOTE AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE
OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY) MAY BE REGISTERED EXCEPT
IN LIMITED CIRCUMSTANCES.

UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A
NEW YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR
PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE
OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE
REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

A-1

 

NEWELL RUBBERMAID INC.

5.50% Convertible Senior Note due 2014

			
	 	 	 
	No. [                    ]
	 	Initially $345,000,000

CUSIP No. 651229 AH9

     Newell Rubbermaid Inc., a Delaware corporation (herein called the “Company”, which term
includes any successor Person under the Indenture hereinafter referred to), for value received,
hereby promises to pay CEDE & CO., or registered assigns, THREE HUNDRED FORTY-FIVE MILLION DOLLARS
($345,000,000) (or such lesser principal amount as shall be specified in the “Schedule of Exchanges
of Securities” attached hereto) on March 15, 2014 unless earlier converted or repurchased, and to
pay interest thereon as set forth in the manner, at the rates and to the Persons set forth in the
Indenture.

     This Note shall bear interest at a rate of 5.50% per annum from March 30, 2009 or from the
most recent date to which interest had been paid or provided to, but excluding, the next scheduled
Interest Payment Date, until the principal hereof shall be repaid. Interest on this Note will be
computed on the basis of a 360-day year composed of twelve 30-day months. Interest is payable
semi-annually in arrears on each March 15 and September 15, commencing on September 15, 2009, to
the Person in whose name this Note (or one or more predecessor securities) is registered at the
close of business on the Regular Record Date for such interest. Additional Interest will be
payable at the option of the Company on the terms set forth in Section 5.02 of the within-mentioned
Supplemental Indenture.

     The Company will pay interest on overdue principal, and, to the extent lawful, on overdue
interest, in each case at a rate of 5.50% per annum. Interest not paid when due and any interest
on principal or interest not paid when due will be paid to Holders on a special record date, which
will be the 15th day preceding the date fixed by the Company for the payment of such interest,
whether or not such day is a Business Day. At least 15 days before a special record date, the
Company will send to each Holder and to the Trustee a notice that sets forth the special record
date, the payment date and the amount of interest to be paid.

     The Company shall pay principal of and interest on this Note, so long as such Note is a Global
Note, in immediately available funds to the Depositary or its nominee, as the case may be, as the
registered Holder of such Note. The Company shall pay principal of any Notes (other than Notes
that are Global Notes) at the office or agency designated by the Company for that purpose. The
Company has initially designated the Trustee as its Paying Agent and Registrar in respect of the
Notes and its agency in New York, New York as a place where Notes may be presented for payment or
for registration of transfer. The Company may, however, change the Paying Agent or Registrar for
the Notes without prior notice to the Holders thereof, and the Company may act as Paying Agent or
Registrar. Interest on the Notes (other than Notes that are Global Notes) will be payable (i) to
Holders of the Notes having an aggregate principal amount of Notes of $5,000,000 or less, by check
mailed to the Holders of these Notes at their address in the Security Register and (ii) to Holders
having an aggregate principal amount of Notes in excess of $5,000,000, either by check mailed to
each Holder at its address in the Security Register or,

A-2

 

upon application by a Holder to the Registrar not later than the relevant Regular Record Date,
by wire transfer in immediately available funds to that Holder’s account within the United States,
which application shall remain in effect until that Holder notifies, in writing, the Registrar to
the contrary.

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

     In the case of any conflict between this Note and the Indenture, the provisions of the
Indenture shall control. This Note, for all purposes, shall be governed by and construed in
accordance with the laws of the State of New York.

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

[Remainder of page intentionally left blank]

A-3

 

     IN WITNESS WHEREOF, NEWELL RUBBERMAID INC. has caused this instrument to be signed manually or
by facsimile by its duly authorized officers.

     Dated: March 30, 2009

	 	 	 	 	 
	 	NEWELL RUBBERMAID INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Attest:

	 	 	 	 	 
	 	 	 
	By:  	 	 	 
	 	Name:  	 	 	 
	 	Title:  	 	 	 

A-4

 

	 	 	 	 	 

CERTIFICATE OF AUTHENTICATION

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

     Dated: March 30, 2009

	 	 	 	 	 
	 	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as
Trustee

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

A-5

 

[FORM OF REVERSE OF NOTE]

NEWELL RUBBERMAID INC.

5.50% Convertible Senior Note due 2014

     This Note is one of a duly authorized issue of Securities of the Company (herein called the
“Notes”), issued under an Indenture dated as of November 1, 1995, as previously amended and
supplemented from time to time in accordance with the terms thereof (herein called the “Original
Indenture”) and as further supplemented by the Supplemental Indenture dated as of March ___, 2009
(herein called the “Supplemental Indenture” and the Original Indenture, as supplemented by the
Supplemental Indenture, the “Indenture”) by and between the Company and The Bank of New York Mellon
Trust Company, N.A., herein called the “Trustee”, 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 Notes and of the terms upon which the Notes are,
and are to be, authenticated and delivered. Additional Notes may be issued in an unlimited
aggregate principal amount, subject to certain conditions specified in the Indenture.

     This Note is not subject to redemption at the option of the Company prior to March 15, 2014
and, for the avoidance of doubt, this Note is not subject to the provisions of Article 11 of the
Original Indenture.

     This Note is not subject to the provisions in Section 1007 or of the Original Indenture, and
the provisions in Article 6 of the Supplemental Indenture supersede the entirety of Articles 4 and
14 of the Original Indenture.

     Upon the occurrence of a Fundamental Change, the Holder has the right, at such Holder’s
option, to require the Company to repurchase all of such Holder’s Notes or any portion thereof (in
principal amounts of $1,000 or integral multiples thereof) on the Fundamental Change Purchase Date
at a price equal to the Fundamental Change Purchase Price.

     As provided in and subject to the provisions of the Indenture, the Holder hereof has the
right, at its option, during certain periods and upon the occurrence of certain conditions
specified in the Indenture, prior to the close of business on the second Scheduled Trading Day
immediately preceding March 15, 2014, to convert this Note or a portion thereof that is $1,000 or
an integral multiple thereof, into cash up to the aggregate principal amount of the Notes to be
converted and cash, shares of Common Stock or a combination thereof, at the Company’s discretion,
in respect of the remainder, if any, at the applicable Conversion Rate specified in the Indenture,
as adjusted from time to time as provided in the Indenture.

     As provided in and subject to the provisions of the Indenture, the Company will make all
payments and deliveries in respect of the Fundamental Change Purchase Price and the principal
amount on the Stated Maturity thereof, as the case may be, to the holder who surrenders a Note to
the Paying Agent to collect such payments in respect of the Note. The Company will pay cash
amounts in money of the United States that at the time of payment is legal tender for payment of
public and private debts.

A-6

 

     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
Notes to be effected 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 Notes at the time outstanding. The
Indenture also contains provisions permitting the Holders of specified percentages in principal
amount of the Notes at the time outstanding, on behalf of the Holders of all Notes, to waive
compliance by the Company with certain provisions of the Indenture and certain past defaults under
the Indenture and their consequences. Any such consent or waiver by the Holder of this Note shall
be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note
issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether
or not notation of such consent or waiver is made upon this Note.

     As provided in and subject to the provisions of the Indenture, in case an Event of Default, as
defined in the Indenture, shall have occurred and be continuing, the principal of and interest on
all Notes may be declared due and payable, by either the Trustee or Holders of not less than 25% in
aggregate principal amount of Notes then outstanding, and upon said declaration shall become due
and payable, in the manner, with the effect and subject to the conditions provided in the
Indenture; provided that upon the occurrence of an Event of Default specified in Section 501(5) or
(6) of the Original Indenture, the principal amount of, and interest on, all the Notes shall
automatically become due and payable.

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

     As provided in the Indenture and subject to certain limitations therein set forth, the
transfer of this Note is registrable in the Security Register, upon surrender of this Note for
registration of transfer at the office or agency of the Company in any place where the principal of
and interest on this Note are payable, duly endorsed by, or accompanied by a written instrument of
transfer in form satisfactory to the Company and the Registrar duly executed by, the Holder hereof
or his attorney duly authorized in writing, and thereupon one or more new Notes of this series and
of like tenor, of authorized denominations and for the same aggregate principal amount, will be
issued to the designated transferee or transferees.

     The 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, the Notes are exchangeable for a like aggregate principal amount of Notes and of
like tenor of a different authorized denomination, as requested by the Holder surrendering the
same.

     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.

A-7

 

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

     All defined terms used in this Note that are defined in the Indenture shall have the meanings
assigned to them in the Indenture.

A-8

 

ABBREVIATIONS

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

	 	 	 	 	 
	TEN COM — as tenants in common

	 	UNIF GIFT MIN ACT	 	 
	 

	 	 
	 	Custodian
	 
	 	(Cust)	 	 
	 
	 	 	 	 
	TEN ENT — as tenants by the entireties
	 	 	 	 
	 

	 	 

	 	 
	 

	 	(Minor)	 	 
	 
	 	 	 	 
	JT TEN — as joint tenants with right of 

Survivorship and not as tenants in common

	 	Uniform Gifts to Minors Act _______ (State)
	 	

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

A-9

 

SCHEDULE A

SCHEDULES OF EXCHANGES OF SECURITIES

NEWELL RUBBERMAID INC.

5.50% Convertible Senior Notes due 2014

     The initial principal amount of this Registered Global Security is THREE HUNDRED FORTY-FIVE
MILLION DOLLARS ($345,000,000). The following, exchanges, purchases or conversions of a part of
this Registered Global Security have been made:

	 	 	 	 	 	 	 	 	 
	 	 	Amount of decrease in	 	Amount of increase in	 	Principal amount of this	 	Signature of
	 	 	principal amount of this	 	principal amount of this	 	Registered Global Security	 	authorized signatory
	Date of	 	Registered Global	 	Registered Global	 	following such decrease or	 	of Trustee or
	Exchange	 	Security	 	Security	 	increase	 	Custodian
	 	 	 	 	 	 	 	 	 

A-10

 

EXHIBIT B

[FORM OF NOTICE OF CONVERSION]

To: Newell Rubbermaid Inc.

               The undersigned owner of this Note hereby irrevocably exercises the option to convert this
Note, or a portion hereof (which is $1,000 or an integral multiple hereof) below designated, into
cash up to the aggregate principal amount of the Notes to be converted and cash, shares of Common
Stock or a combination thereof, at the Company’s discretion, in respect of the remainder, if any,
in accordance with the terms of the Indenture referred to in this Note, and directs that cash
payable and any shares of Common Stock issuable and deliverable upon conversion, together with any
check in payment for fractional shares of Common Stock, and any Notes representing any unconverted
principal amount hereof, be paid or issued and delivered, as the case may be, to the registered
Holder hereof unless a different name has been indicated below. Subject to certain exceptions set
forth in the Indenture, if this notice is being delivered on a date after the close of business on
a Regular Record Date and prior to the opening of business on the related Interest Payment Date,
this notice is accompanied by payment of an amount equal to the interest payable on such Interest
Payment Date of the principal of this Note to be converted. If any shares of Common Stock are to
be issued in the name of a Person other than the undersigned, the undersigned will pay all transfer
taxes payable with respect hereto. Any amount required to be paid by the undersigned on account of
interest accompanies this Note.

Principal amount to be converted (in an integral multiple of $1,000, if less than all):

	 	 	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	Signature(s) 	 
	 
	 	Signature(s) must be guaranteed

by an institution which is a member of one of the following recognized
signature Guarantee Programs: 	 
	 
	 	(i) The Securities Transfer Agent Medallion Program (STAMP); (ii) The New York
Stock Exchange Medallion Program (MNSP); (iii) The Stock Exchange Medallion
Program (SEMP) or (iv) another guarantee program acceptable to the Trustee.

 	 
	 	 	 
	 	 	 
	 	 	 
	 	Signature Guarantee 	 
	 	 	 

B-1

 

	 	 	 	 	 

Fill in for registration of any shares of Common Stock and Notes if to be issued otherwise than to
the registered Holder.

	 	 	 	 	 
	 	 	 
	 	 	 
	(Name) 	 	 
	 
	 	 	 
	(Address) 
	 
	Please print Name and Address
 (including zip code number)
	 
	Social Security or other Taxpayer

Identifying Number  _____________________ 	 	 
	 

B-2

 

EXHIBIT C

[FORM OF FUNDAMENTAL CHANGE PURCHASE NOTICE]

To: Newell Rubbermaid Inc.

The undersigned registered owner of this Note hereby acknowledges receipt of a notice from Newell
Rubbermaid Inc. (the “Company”) as to the occurrence of a Fundamental Change with respect to the
Company and specifying the Fundamental Change Purchase Date and requests and instructs the Company
to repay to the registered holder hereof in accordance with the applicable provisions of this Note
and the Indenture referred to in this Note (1) the entire principal amount of this Note, or the
portion thereof (that is $1,000 principal amount or an integral multiple thereof) below designated,
and (2) if such Fundamental Change Purchase Date does not fall during the period after a Regular
Record Date and on or prior to the corresponding Interest Payment Date, accrued and unpaid interest
thereon to, but excluding, such Fundamental Change Purchase Date.

In the case of certificated Notes, the certificate numbers of the Notes to be repurchased are as
set forth below:

Dated:                     

	 	 	 	 	 
	 	Signature(s)

 	 
	 	 	 
	 	Social Security or Other Taxpayer Identification Number
 	 
	 	principal amount to be repaid (if less than all):

$__________, 000
 	 
	 	NOTICE:  The signature on the Fundamental Change
Purchase Notice must correspond with the name as
written upon the face of the Note in every particular
without alteration or enlargement or any change
whatever. 	 
	 

C-1

 

EXHIBIT D

[FORM OF ASSIGNMENT AND TRANSFER]

     For value received                                          hereby sell(s), assign(s)
and transfer(s) unto                                          (Please insert social security or Taxpayer
Identification Number of assignee) the within Note, and hereby irrevocably constitutes and appoints
                                         to transfer the said Note on the books of the Company, with full power of
substitution in the premises.

	 	 	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	Signature(s)
 	 
	 	Signature(s) must be guaranteed

by an institution which is a member of one of the
following recognized signature Guarantee Programs:

(i) The Securities Transfer Agent Medallion Program
(STAMP); (ii) The New York Stock Exchange Medallion
Program (MNSP); (iii) The Stock Exchange Medallion
Program (SEMP) or (iv) another guarantee program
acceptable to the Trustee. 	 
	 
	 	 	 
	 	 	 
	 	 	 
	 	Signature Guarantee 	 
	 	 	 
	 

D-1exv10w1

Exhibit 10.1

EXECUTION VERSION

JPMorgan Chase Bank, National Association

P.O. Box 161

60 Victoria Embankment

London EC4Y 0JP

England

	 	 	 	 	 	 	 
	 

	 	 	 	 	 	March 24, 2009
	To:	 	Newell Rubbermaid Inc.	 	 
	 	 	Three Glenlake Parkway	 	 
	 	 	Atlanta, Georgia 30328	 	 
	 

	 	Attention:
	 	Treasurer	 	 
	 

	 	Telephone No.:
	 	(770) 418-7000	 	 
	 

	 	Facsimile No.:
	 	(770) 677-8705	 	 

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 (“Dealer”) and Newell Rubbermaid Inc. (“Counterparty”) as of 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. Certain defined terms
used herein have the meanings assigned to them in the prospectus dated March 25, 2008, as
supplemented by the prospectus supplement dated March 24, 2009 (as supplemented, the “Prospectus”)
relating to the USD 300,000,000 principal amount of 5.5% Convertible Senior Notes due March 15,
2014, (the “Convertible Notes” and each USD 1,000 principal amount of Convertible Notes, a
“Convertible Note”) issued by Counterparty pursuant to an indenture dated November 1, 1995 between
Counterparty and The Bank of New York Mellon Trust Company, N.A., formerly known as The Bank of New
York Trust Company, N.A. (as successor to JPMorgan Chase Bank, formerly known as The Chase
Manhattan Bank (National Association)), as trustee (the “Trustee”) (the “Base Indenture”), as
supplemented by a supplemental indenture between Counterparty and the Trustee to be dated March 30,
2009 (the “Supplemental Indenture” and, together with the Base Indenture, the “Indenture”). In the
event of any inconsistency between the terms defined in the Prospectus, 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 Prospectus.
If any such definitions in the Indenture or any such sections of the Indenture differ from the
descriptions thereof in the Prospectus, the descriptions thereof in the Prospectus 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 Dealer 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 Base Indenture or the Supplemental Indenture, as the

JPMorgan Chase Bank, National Association

Organised under the laws of the United States as a National Banking Association

Main Office 1111 Polaris Parkway, Columbus, Ohio 43271

Registered as a branch in England & Wales branch No. BR000746

Registered Branch Office 125 London Wall, London EC2Y 5AJ

Authorised and regulated by the Financial Services Authority

 

 

case may be, herein are references to the Base Indenture or the Supplemental Indenture, as the
case may be, as in effect on the date of its execution and if the Base Indenture or the
Supplemental 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.

     1. This Confirmation evidences a complete and binding agreement between Dealer 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 Dealer 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 (without reference to the choice of law doctrine)) 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:
	 	March 24, 2009 
	 
	 	 	 	 
	 

	 	Effective Date:
	 	The third Exchange Business Day immediately prior to the Premium Payment Date
	 
	 	 	 	 
	 

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

	 	Option Type:
	 	Call
	 
	 	 	 	 
	 

	 	Buyer:
	 	Counterparty
	 
	 	 	 	 
	 

	 	Seller:
	 	Dealer
	 
	 	 	 	 
	 

	 	Shares:
	 	The common stock of Counterparty, par value USD 1.00 per Share (Exchange symbol “NWL”)
	 
	 	 	 	 
	 

	 	Number of Options:
	 	 300,000. 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.
	 
	 	 	 	 
	 

	 	Applicable Percentage:
	 	50% 
	 
	 	 	 	 
	 

	 	Option Entitlement:
	 	As of any date, a number equal to the product of the Applicable
Percentage and the Conversion Rate as of such date (as defined in the Supplemental
Indenture, but without regard to any adjustments to the Conversion Rate pursuant to
Section 4.04(g), Section 4.04(h) or Section 4.06 of the Supplemental Indenture), for
each Convertible Note.
	 
	 	 	 	 
	 

	 	Strike Price:
	 	USD 8.6060 

2

 

	 	 	 	 	 
	 

	 	Premium:
	 	USD 30,000,000 
	 
	 	 	 	 
	 

	 	Premium Payment Date:
	 	March 30, 2009 
	 
	 	 	 	 
	 

	 	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 November 15, 2013, 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 4.02(b) of the
Supplemental Indenture.
	 
	 	 	 	 
	 

	 	Exercisable Options:
	 	In respect of each Exercise Period, a number of Options equal to the
number 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
	 
	 	 	 	 
	 

	 	Expiration Date:
	 	March 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 Dealer.
	 
	 	 	 	 
	 

	 	Notice of Exercise:
	 	Notwithstanding anything to the contrary in the Equity Definitions, in
order to exercise any Exercisable Options, Counterparty must notify Dealer in writing

3

 

	 	 	 	 	 
	 

	 	 	 	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 of (i) the number
of such Options, (ii) the scheduled first day of the
Settlement Averaging Period and the scheduled
Settlement Date and (iii) if Combination Settlement
is applicable, the Cash Percentage for such
Exercisable Options; provided that in respect of
Exercisable Options relating to Convertible Notes
with a Conversion Date occurring on or after November
15, 2013, such notice may be given on or prior to the
second Scheduled Valid Day immediately preceding the
Expiration Date and need only specify the information
in clauses (i) and (iii) above.
	 
	 	 	 	 
	 

	 	Notice of Settlement Method:
	 	If the Cash Percentage in respect of any Exercisable Option is
greater than 0%, Combination Settlement shall apply as set forth under “Settlement
Method” below and, in order to exercise such Exercisable Option, Counterparty must (i)
notify Dealer in writing before 5:00 p.m. (New York City time) on the Scheduled Valid
Day immediately preceding the Settlement Averaging Period for such Exercisable Option
that Combination Settlement is applicable with respect to such Exercisable Option and
(ii) represent and warrant to Dealer in such notice that, at the time Counterparty
specified the Cash Percentage (as defined in the Supplemental Indenture) in respect of
the Convertible Notes relating to such Exercisable Option pursuant to Section 4.03(c) of
the Supplemental Indenture, neither Counterparty nor any of its affiliates was in
possession of any material non-public information with respect to the Issuer or the
Shares.
	 
	 	 	 	 
	 

	 	Cash Percentage:
	 	In respect of any Exercisable Option, the Cash Percentage (as defined
in the Supplemental Indenture) applicable to the Convertible Notes relating to such
Exercisable Option.
	 
	 	 	 	 
	 

	 	Valuation Time:
	 	At the close of trading of the regular trading session on the Exchange;
provided that if the principal trading session is extended, the Calculation Agent shall
determine the Valuation Time in its reasonable discretion.
	 
	 	 	 	 
	 

	 	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 for more than one
half-hour period in the aggregate on any Scheduled
Valid Day for the Shares of any suspension or
limitation imposed on trading (by reason of movements
in price exceeding limits permitted

4

 

	 	 	 	 	 
	 

	 	 	 	by the relevant stock exchange or otherwise) in the
Shares or in any options, contracts or future
contracts relating to the Shares, and such suspension
or limitation occurs or exists at any time before
1:00 p.m., New York City time.”
	 
	 	 	 	 
	Settlement Terms:	 	 
	 
	 	 	 	 
	 

	 	Settlement Method:
	 	Net Share Settlement or, if the Cash Percentage for the relevant
Exercisable Options is greater than 0%, Combination Settlement; provided that if, in
respect of any Exercisable Option, either (a) Counterparty does not provide a Notice of
Settlement Method pursuant to “Notice of Settlement Method” above or (b) Counterparty
provides such a Notice of Settlement Method but does not make the representation
required under clause (ii) of “Notice of Settlement Method” above, then Net Share
Settlement shall be deemed to apply to such Exercisable Option.
	 
	 	 	 	 
	 

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

	 	 	 	Dealer 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.
	 
	 	 	 	 
	 

	 	Net Shares:
	 	In respect of any Exercisable Option exercised or deemed exercised, a
number of Shares equal to the sum, for each Valid Day during the Settlement Averaging
Period for such Exercisable Option, of the Daily Share Amount for such Exercisable
Option on such Valid Day.
	 
	 	 	 	 
	 

	 	Daily Share Amount:
	 	In respect of any Exercisable Option exercised or deemed
exercised, for a Valid Day during the Settlement Averaging Period for such Exercisable
Option:
	 
	 	 	 	 
	 

	 	 	 	(i)   if the Daily Option Value is greater than to
$25, the Daily Share Amount shall be a number of
Shares equal to (x) the Daily Option Value minus
$25, divided by (y) the Relevant Price on such
Valid Day;

	 
	 	 	 	 
	 

	 	 	 	(ii)  if the Daily Option Value is less than or equal
to $25, the Daily Share Amount shall be equal to
zero.

	 
	 	 	 	 
	 

	 	Daily Option Value:
	 	In respect of any Exercisable Option exercised or deemed
exercised, for a Valid Day during the Settlement Averaging Period for such Exercisable
Option, an amount equal to (x) the Option Entitlement on such Valid Day, multiplied by
(y) the Relevant Price on such

5

 

	 	 	 	 	 
	 

	 	 	 	Valid Day, divided by (z) the number of Valid Days in
the Settlement Averaging Period.
	 
	 	 	 	 
	 

	 	Combination Settlement:
	 	If Combination Settlement applies to any Exercisable Option exercised
or deemed exercised hereunder, Dealer will deliver to Counterparty, on the relevant
Settlement Date (i) an amount of cash equal to the Combination Cash Amount for such
Exercisable Option and (ii) a number of Shares, if any, equal to the Combination Share
Amount for such Exercisable Option.
	 
	 	 	 	 
	 

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

	 	Combination Cash Amount:
	 	In respect of any Exercisable Option exercised or deemed exercised,
an amount in cash equal to the sum, for each Valid Day during the Settlement Averaging
Period for such Exercisable Option, of (i) the Daily Share Amount for such Exercisable
Option on such Valid Day, multiplied by (ii) the Relevant Price on such Valid Day,
multiplied by (iii) the Cash Percentage for such Exercisable Option.
	 
	 	 	 	 
	 

	 	Combination Share Amount:
	 	In respect of any Exercisable Option exercised or deemed exercised,
a number of Shares equal to the sum, for each Valid Day during the Settlement Averaging
Period for such Exercisable Option, of (i) the Daily Share Amount for such Exercisable
Option on such Valid Day, multiplied by (ii) 100% minus the Cash Percentage for such
Exercisable Option.
	 
	 	 	 	 
	 

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

	 	Scheduled Valid Day:
	 	A day that is scheduled to be a Valid Day on the principal United States
national or regional securities exchange or market on which the Shares are listed or
admitted for trading. If the Shares are not so listed or admitted for trading,
“Scheduled Valid Day” means a Business Day.
	 
	 	 	 	 
	 

	 	Business Day:
	 	Any day other than a Saturday, Sunday or a day on which the Federal Reserve
Bank of New York is authorized or required by law or executive order to close or be
closed.

6

 

	 	 	 	 	 
	 

	 	Relevant Price:
	 	On any Valid Day, the per Share volume-weighted average price as displayed
under the heading “Bloomberg VWAP” on Bloomberg page NWL.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).
	 
	 	 	 	 
	 

	 	Settlement Averaging Period:
	 	For any Exercisable Option, (x) if Counterparty has, on or prior
to November 15, 2013, delivered a Notice of Exercise to Dealer with respect to such
Exercisable Option with a Conversion Date occurring prior to November 15, 2013, 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 November
15, 2013, delivered a Notice of Exercise to Dealer with respect to such Exercisable
Option with a Conversion Date occurring on or following November 15, 2013, 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, cash or a combination thereof
will be delivered or paid, as the case may be, with respect to the Convertible Notes
related to such Exercisable Options, under the terms of the Supplemental Indenture.
	 
	 	 	 	 
	 

	 	Settlement Currency:
	 	USD
	 
	 	 	 	 
	 

	 	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 (i) “Net Share
Settled” to the extent Net Share Settlement is applicable or (ii) “Combination Settled”
to the extent Shares will be delivered in connection an election of Combination
Settlement. “Net Share Settled” in relation to any Option means that Net Share
Settlement is applicable to that Option, and “Combination Settled” in relation to any
Option means that Combination 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.

7

 

	 	 	 	 	 
	 
	 	 	 	 
	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 4.04 of the Supplemental 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 4.04(g), Section 4.04(h) or Section 4.06 of the Supplemental Indenture.
	 
	 	 	 	 
	 

	 	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 Supplemental Indenture (other than Section 4.04(g),
Section 4.04(h) and Section 4.06 of the Supplemental Indenture), the Calculation Agent will
make a corresponding adjustment to any one or more of the Strike Price, Number of Options,
Option Entitlement and any other variable relevant to the exercise, settlement or payment
for the Transaction; provided that if the Calculation Agent in good faith disagrees with
any adjustment to the Conversion Rate pursuant to Section 4.04(c), Section 4.04(e), Section
4.05 or Section 4.07 of the Supplemental Indenture, the Calculation Agent will determine
the corresponding adjustment to be made to any one or more of the Strike Price, Number of
Options, Option Entitlement and any other variable relevant to the exercise, settlement or
payment of the Transaction in a commercially reasonable manner.
	 
	 	 	 	 
	Extraordinary Events applicable to the Transaction:
	 	 
	 
	 	 	 	 
	 

	 	Merger Events:
	 	Applicable; provided that notwithstanding Section 12.1(b) of the Equity
Definitions, a “Merger Event” means the occurrence of any event or condition set forth
in clauses (i) to (iv) (inclusive) of Section 4.07 of the Supplemental 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 Section 4.04(e) of the Supplemental 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, 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 4.06 of the Supplemental Indenture; provided further that if, with

8

 

	 	 	 	 	 
	 

	 	 	 	respect to a Merger Event or a Tender Offer, (i) 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 or (ii) the Counterparty to the
Transaction following such Merger Event or Tender
Offer, will not be the Issuer following such Merger
Event or Tender Offer, then Cancellation and Payment
(Calculation Agent Determination) shall apply.
	 
	 	 	 	 
	 

	 	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 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 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; provided that Section 12.9(a)(ii)(X) of the Equity Definitions
is hereby amended by replacing the word “Shares” with the phrase “Hedge Positions.”
	 
	 	 	 	 
	 

	 	Failure to Deliver:
	 	Applicable
	 
	 	 	 	 
	 

	 	Hedging Disruption:
	 	Applicable; provided that Section 12.9(a)(v) of the Equity Definitions
is hereby modified by inserting the following two phrases at the end of such Section:
	 
	 	 	 	 
	 

	 	 	 	“For the avoidance of doubt, the term “equity price
risk” shall be deemed to include, but shall not be
limited to, stock price and volatility risk. And, for
the further avoidance of doubt, any such transactions
or assets referred to in phrases (A) or (B) above
must be available on commercially reasonable pricing
terms.”
	 
	 	 	 	 
	 

	 	Hedging Party:
	 	Dealer for all applicable Additional Disruption Events.
	 
	 	 	 	 
	 

	 	Determining Party:
	 	Dealer for all applicable Extraordinary Events
	 
	 	 	 	 
	Non-Reliance:	 	Applicable
	 
	 	 	 	 
	Agreements and Acknowledgements

     Regarding Hedging Activities:	 	Applicable
	 
	 	 	 	 
	Additional Acknowledgments:	 	Applicable
	 
	 	 	 	 
	4. Calculation Agent:	 	Dealer; provided that all determinations made by the Calculation Agent
shall be made in good faith and in a commercially reasonable manner. Following any calculation
by the Calculation Agent hereunder and a prior written request by Counterparty, the
Calculation

9

 

	 	 	 	 	 
	 

	 	 	 	Agent shall provide Counterparty a written
explanation of any calculation or adjustment made by
it including, where applicable, a description of the
methodology and the basis for such calculation or
adjustment in reasonable detail, it being understood
that the Calculation Agent shall not be obligated to
disclose any proprietary models used by it for such
calculation.

5. Account Details:

	 	(a)	 	Account for payments to Counterparty:
	 
	 	 	 	   JPMorgan Chase New York

   ABA: 021 000 021

   Account:     Newell Rubbermaid Inc.

   A/C No.:     910-2-504074
	 
	 	 	 	Account for delivery of Shares to Counterparty:
	 
	 	 	 	   To be provided by Counterparty.
	 
	 	(b)	 	Account for payments to Dealer:
	 
	 	 	 	   JPMorgan Chase Bank, N.A., New York

   ABA: 021 000 021

   Favour: JPMorgan Chase Bank N.A., London

   A/C: 0010962009

   CHASUS33
	 
	 	 	 	Account for delivery of Shares from Dealer:
	 
	 	 	 	   DTC 0060

6. Offices:

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

The Office of Dealer 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:
	 
	 	 	 	Newell Rubbermaid Inc.

Three Glenlake Parkway

Atlanta, Georgia 30328

Attention:             Treasurer

Telephone No.:     (770) 418-7000

Facsimile No.:       (770) 677-8705

10

 

	 	(b)	 	Address for notices or communications to Dealer:
	 
	 	 	 	JPMorgan Chase Bank, National Association

277 Park Avenue, 11th Floor

New York, NY 10172

Attention: Mariusz Kwasnik

Title: Operations Analyst

EDG Corporate Marketing

Telephone No:     (212) 623-7223

Facsimile No:      (212) 622-8534

8. Representations and Warranties of Counterparty

The representations and warranties of Counterparty set forth in Section 1 of the Underwriting
Agreement (the “Underwriting Agreement”) dated as of March 24, 2009 among Counterparty and Merrill
Lynch, Pierce, Fenner & Smith Incorporated and J.P. Morgan Securities Inc. as representatives of
the Underwriters are true and correct and are hereby deemed to be repeated to Dealer as if set
forth herein. Counterparty hereby further represents and warrants to Dealer 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 subject, as to
enforceability, 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 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, or 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)	 	Counterparty is not and will not be required to register as an “investment
company” as such term is defined in the Investment Company Act of 1940, as amended.
	 
	 	(e)	 	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:

11

 

	 	(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.

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

9. Other Provisions:

	 	(a)	 	Opinions. Counterparty shall deliver to Dealer, on or prior to the
Premium Payment Date, an opinion of counsel, dated as of the Premium Payment Date,
with respect to the matters set forth in Sections 8(a) through (c) of this
Confirmation, and delivery of such opinion to Dealer shall be a condition precedent
for the purposes of Section 2(a)(iii) of the Agreement with respect to each obligation
of Dealer under Section 2(a)(i) of the Agreement.
	 
	 	(b)	 	Repurchase Notices. Counterparty shall, on any day on which
Counterparty effects any repurchase of Shares, promptly give Dealer 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 250
million (in the case of the first such notice) or (ii) thereafter more than 14 million
less than the number of Shares included in the immediately preceding Repurchase
Notice. Counterparty agrees to indemnify and hold harmless Dealer 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 Dealer’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 Dealer 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 Dealer 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

12

 

	 	 	 	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 includes an
unconditional release of such Indemnified Person from all liability on claims that
are the subject matter of such proceeding on terms reasonably satisfactory to such
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 (b)
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.
	 
	 	(c)	 	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 exceptions 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 Effective Date, engage in any such distribution.
	 
	 	(d)	 	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.
	 
	 	(e)	 	Transfer or Assignment. (i) Counterparty shall have the right to
transfer or assign its rights and obligations hereunder with respect to all, but not
less than all, of the Options hereunder (such Options, the “Transfer Options”);
provided that such transfer or assignment shall be subject to reasonable conditions
that Dealer may impose, including but not limited, to the following conditions:

(A) With respect to any Transfer Options, Counterparty shall not be released
from its notice and indemnification obligations pursuant to Section 9(b) or any
obligations under Section 9(n) or 9(s) of this Confirmation;

(B) Any Transfer Options shall only be transferred or assigned to a third party
that is a United States person (as defined in the Internal Revenue Code of
1986, as amended);

(C) Such transfer or assignment shall be effected on terms, including any
reasonable undertakings by such third party (including, but not limited to, an
undertaking with respect to compliance with applicable securities laws in a
manner that, in the reasonable judgment of Dealer, will not expose Dealer to
material risks under applicable securities laws) and execution of any
documentation and delivery of legal opinions with respect to securities laws
and other matters by such third party and Counterparty, as are requested and
reasonably satisfactory to Dealer;

(D) Dealer will not, as a result of such transfer and assignment, be required
to pay the transferee on any payment date an amount under Section 2(d)(i)(4) of
the Agreement greater than an amount that Dealer would have been required to
pay to Counterparty in the absence of such transfer and assignment;

(E) An Event of Default, Potential Event of Default or Termination Event will
not occur as a result of such transfer and assignment;

13

 

(F) Without limiting the generality of clause (B), Counterparty shall cause the
transferee to make such Payee Tax Representations and to provide such tax
documentation as may be reasonably requested by Dealer to permit Dealer to
determine that results described in clauses (D) and (E) will not occur upon or
after such transfer and assignment; and

(G) Counterparty shall be responsible for all reasonable costs and expenses,
including reasonable counsel fees, incurred by Dealer in connection with such
transfer or assignment.

(ii) Dealer may, without Counterparty’s consent, transfer or assign all or any part
of its rights or obligations under the Transaction to any third party with a rating
for its long term, unsecured and unsubordinated indebtedness equal to or better
than the greater of (x) the credit rating of Dealer at the time of the transfer and
(y) 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 rating
agency mutually agreed by Counterparty and Dealer. If at any time at which (1) the
Section 16 Percentage exceeds 7.5%, (2) the Option Equity Percentage exceeds 14.5%,
or (3) the Share Amount exceeds the Post-Effective Limit (if any applies), Dealer
is unable after using its commercially reasonable efforts to effect a transfer or
assignment of Options to a third party on pricing terms reasonably acceptable to
Dealer and within a time period reasonably acceptable to Dealer such that (1) the
Section 16 Percentage will be equal to or less than 7.5%, (2) the Option Equity
Percentage will be equal to or less than 14.5%, and (3) the Share Amount will be
equal to or less than any such Post-Effective Limit, then Dealer may designate any
Exchange Business Day as an Early Termination Date with respect to a portion of the
Transaction (the “Terminated Portion”), such that following such partial
termination (1) the Section 16 Percentage will be equal to or less than 7.5%, (2)
the Option Equity Percentage will be equal to or less than 14.5%, and (3) the Share
Amount will be equal to or less than such Post-Effective Limit. In the event that
Dealer so designates an Early Termination Date with respect to a Terminated
Portion, a payment shall be made pursuant to Section 6 of the Agreement as if (1)
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 number of
Options underlying the Terminated Portion, (2) Counterparty shall be the sole
Affected Party with respect to such partial termination and (3) the Terminated
Portion shall be the sole Affected Transaction (and, for the avoidance of doubt,
the provisions of Section 9(l) shall apply to any amount that is payable by Dealer
to Counterparty pursuant to this sentence as if Counterparty was not the Affected
Party). The “Section 16 Percentage” as of any day is the fraction, expressed as a
percentage, (A) the numerator of which is the number of Shares that Dealer and each
person subject to aggregation of Shares with Dealer under Section 13 or Section 16
of the Exchange Act and rules promulgated thereunder directly or indirectly
beneficially own (as defined under Section 13 or Section 16 of the Exchange Act and
rules promulgated thereunder) and (B) the denominator of which is the number of
Shares outstanding. The “Option Equity Percentage” as of any day is the fraction,
expressed as a percentage, (A) the numerator of which is the product of (x) the
Number of Options and (y) the Option Entitlement and (B) the denominator of which
is the number of Shares outstanding. The “Share Amount” as of any day is the
number of Shares that Dealer and any person whose ownership position would be
aggregated with that of Dealer (Dealer or any such person, a “Dealer Person”) under
any law, rule, regulation or regulatory order that for any reason becomes
applicable to ownership of Shares after the Trade Date (“Applicable Laws”), owns,
beneficially owns, constructively owns, controls, holds the power to vote or
otherwise meets a relevant definition of ownership of under the Applicable Laws, as
determined by Dealer in its reasonable discretion. The “Post-Effective Limit” means
(x) the minimum number of Shares that would give rise to reporting or registration
obligations or other requirements (including obtaining prior approval from any
person or entity) of a Dealer Person, or would result in an adverse effect on a
Dealer Person, under the Applicable

14

 

Laws, as determined by Dealer in its reasonable discretion, minus (y) 1% of the
number of Shares outstanding.

(iii) Notwithstanding any other provision in this Confirmation to the contrary
requiring or allowing Dealer to purchase, sell, receive or deliver any shares or
other securities, or make or receive any payment in cash, to or from Counterparty,
Dealer may designate any of its affiliates to purchase, sell, receive or deliver
such shares or other securities, or to make or receive such payment in cash, and
otherwise to perform Dealer’s obligations in respect of this Transaction and any
such designee may assume such obligations. Dealer shall be discharged of its
obligations to Counterparty to the extent of any such performance.

	 	(f)	 	Staggered Settlement. If upon advice of counsel with respect to
applicable legal and regulatory requirements, including any requirements relating to
Dealer’s hedging activities hereunder, Dealer 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 Dealer on the Settlement Date for the Transaction,
Dealer 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, Dealer 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 Dealer will deliver to
Counterparty hereunder on all such Staggered Settlement Dates will equal the
number of Shares that Dealer 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 Dealer in the
notice referred to in clause (a) above.

	 	(g)	 	Role of Agent. Each party agrees and acknowledges that (i) J.P.
Morgan Securities Inc., an affiliate of Dealer (“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.
	 
	 	(h)	 	Dividends. If at any time during the period from and including the
Effective Date, to but excluding the Expiration Date, (i) an ex-dividend date for a
regular quarterly cash dividend occurs with respect to the Shares (an “Ex-Dividend
Date”), and that dividend is less than the Regular Dividend on a per Share basis or
(ii) if no Ex-Dividend date for a regular quarterly cash dividend occurs with respect
to the Shares in any quarterly dividend period of Counterparty, then the Calculation
Agent will make a corresponding adjustment to any one or more of the Strike Price,
Number of Options, Option Entitlement and/or any other variable relevant to the
exercise, settlement or payment for the Transaction to preserve the fair value of the
Options to Dealer after taking into account such dividend or lack thereof. “Regular
Dividend” shall mean USD 0.05 per Share per quarter. Upon any adjustment to the
Initial Dividend Threshold (as defined in

15

 

	 	 	 	the Supplemental Indenture) for the Convertible Notes pursuant to Section
4.04(d)(i) or Section 4.07 of the Supplemental Indenture, the Calculation Agent
will make a corresponding adjustment to the Regular Dividend for the Transaction.
	 
	 	(i)	 	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 Supplemental Indenture or Section 501 of the Base 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)
Dealer shall be the party entitled to designate an Early Termination Date pursuant to
Section 6(b) of the Agreement.
	 
	 	(j)	 	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 Dealer’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 “Dealer may elect” and (2) replacing
“notice to the other party” with “notice to Counterparty” in the first sentence of
such section.

	 	(k)	 	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, Dealer (and only Dealer) 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
Dealer under any other agreement between Dealer 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, Dealer 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. For the avoidance of doubt and notwithstanding anything to the
contrary provided in this Section 9(k), in the event of bankruptcy or liquidation of
either Counterparty or Dealer neither party shall have the right to set off any
obligation that it may have to the other party under this Transaction against any
obligation such other party may have to it, whether arising under the Agreement, this
Confirmation or any other agreement between the parties hereto, by operation of law or
otherwise.

16

 

	 	(l)	 	Alternative Calculations and Payment on Early Termination and on Certain
Extraordinary Events. If in respect of this Transaction, an amount is payable by
Dealer 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 Dealer 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 Dealer, confirmed in writing within one Scheduled Trading Day, no later than
12:00 p.m. New York local time on the Merger Date, the Tender Offer 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 Dealer to satisfy its Payment Obligation by the Share
Termination Alternative, Dealer 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.

	 	 	 
	Share Termination Alternative:

	 	Applicable and means that Dealer
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 Dealer 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

17

 

	 	 	 
	 

	 	to Dealer at the time of notification of
the Payment Obligation. For the avoidance
of doubt, the parties agree that in
determining the Share Termination
Delivery Unit Price the Calculation Agent
may consider the purchase price paid in
connection with the purchase of Share
Termination Delivery Property.
	 
	 	 
	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.

	 	(m)	 	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.
	 
	 	(n)	 	Registration. Counterparty hereby agrees that if, in the good faith
reasonable judgment of Dealer, the Shares (“Hedge Shares”) acquired by Dealer for the
purpose of hedging its obligations pursuant to this Transaction cannot be sold in the
public market by Dealer without registration under the Securities Act, Counterparty
shall, at its election, either (i) in order to allow Dealer to sell the Hedge Shares
in a registered offering, make available to Dealer an effective registration statement
under the Securities Act and enter into an agreement, in form and substance
satisfactory to Dealer, substantially in the form of an underwriting agreement for a
registered secondary offering; provided, however, that if Dealer, in its sole
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 Dealer

18

 

	 	 	 	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 for an issuance of its size, in form
and substance satisfactory to Dealer (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 Dealer 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 Dealer at the Reference Price on such
Exchange Business Days, and in the amounts, requested by Dealer.

	 	(o)	 	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.
	 
	 	(p)	 	Right to Extend. Dealer may postpone, in whole or in part, any
Settlement Date or any other date of valuation, payment or delivery by Dealer or add
additional Settlement Dates or any other date of valuation, payment or delivery, with
respect to some or all of the Options hereunder, if Dealer reasonably determines, in
its discretion, that such extension is reasonably necessary or appropriate to preserve
Dealer’s hedging or hedge unwind activity hereunder in light of existing liquidity
conditions (but only if there is a material decrease in liquidity relative to Dealer’s
expectations on the Trade Date) or to enable Dealer to effect purchases or sales of
Shares in connection with its hedging, hedge unwind or settlement activity hereunder
in a manner that would, if Dealer were Counterparty or an affiliated purchaser of
Counterparty, be in compliance with applicable legal, regulatory or self-regulatory
requirements, or with related policies and procedures applicable to Dealer.
	 
	 	(q)	 	Status of Claims in Bankruptcy. Dealer acknowledges and agrees that
this Confirmation is not intended to convey to Dealer rights against Counterparty with
respect to the Transaction that are senior to the claims of common stockholders of
Counterparty in any United States bankruptcy proceedings of Counterparty; provided
that nothing herein shall limit or shall be deemed to limit Dealer’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 Dealer’s rights in respect of any transactions other than the
Transaction.
	 
	 	(r)	 	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.
	 
	 	(s)	 	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
Dealer 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

19

 

	 	 	 	“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.
	 
	 	(t)	 	Receipt or Delivery of Cash. For the avoidance of doubt, other than
payment of the Premium by Counterparty, nothing in this Confirmation shall be
interpreted as requiring Counterparty to cash settle this Transaction, except in
circumstances where such cash settlement is within Counterparty’s control (including,
without limitation, where Counterparty elects Combination Settlement, where
Counterparty elects to receive or deliver cash, or where Counterparty fails timely to
elect the Share Termination Alternative) or in those circumstances in which holders of
the Shares would also receive cash.
	 
	 	(u)	 	Special Provisions for Counterparty Payments. The parties hereby
agree that, notwithstanding anything to contrary in this Confirmation, the Agreement
or the Equity Definitions, in the event that an Early Termination Date occurs or is
designated with respect to the Transaction as a result of a Termination Event and, as
a result, Counterparty owes to Dealer an amount calculated under Section 6(e) of the
Agreement, such amount shall be deemed to be zero.

20

 

     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/ Michael O’Donovan
 

	 	 
	 

	 	Authorized Signatory	 	 
	 

	 	Name: Michael O’Donovan	 	 

Accepted and confirmed

as of the Trade Date:

Newell Rubbermaid Inc.

	 	 	 	 	 	 
	 	By:

	 	/s/ Dale L. Metz
 

	 	 
	 	Authorized Signatory	 	 
	 	Name: Dale L. Metz	 	 

JPMorgan Chase Bank, National Association

Organised under the laws of the United States as a National Banking Association

Main Office 1111 Polaris Parkway, Columbus, Ohio 43271

Registered as a branch in England & Wales branch No. BR000746

Registered Branch Office 125 London Wall, London EC2Y 5AJ

Authorised and regulated by the Financial Services Authority

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