Document:

Registration Rights Agreement

 EXHIBIT 4.2 
 UnumProvident Corporation 
  
 12,000,000 8.25% Adjustable Conversion-Rate Equity Security Units 
  
  

Registration Rights Agreement 
  
 May 11, 2004 
  
 To the Subscribers 
 listed in Schedule I 
  
 Ladies and Gentlemen: 
  
 UnumProvident Corporation, a Delaware corporation (the “Company”), proposes to issue and sell to the Subscribers (as defined herein) upon the
terms set forth in the Subscription Agreement (as defined herein) an aggregate of 12,000,000 8.25% Adjustable Conversion-Rate Equity Security Units of the Company. As an inducement to the Subscribers to enter into the Subscription Agreement and in
satisfaction of a condition to the obligations of the Subscribers thereunder, the Company agrees with the Subscribers for the benefit of the Subscribers holding Registrable Securities (as defined herein) as follows: 
  
 1. Definitions. 
  
 (a) Capitalized terms used herein without definition shall have the meanings
ascribed to them in the Subscription Agreement. 
  
 (b) As used in
this Agreement, the following defined terms shall have the following meanings: 
  
 “Affiliate” of any specified person means any other person which, directly or indirectly, is in control of, is controlled by, or is under common control with such specified person. For purposes of
this definition, control of a person means the power, direct or indirect, to direct or cause the direction of the management and policies of such person whether by contract or otherwise; and the terms “controlling” and
“controlled” have meanings correlative to the foregoing. 
  
 “Closing Date” means the Closing Date as defined in the Subscription Agreement. 
  
 “Commission” means the United States Securities and Exchange Commission, or any other federal agency at the time administering the
Exchange Act or the Securities Act, whichever is the relevant statute for the particular purpose. 
  
 “Common Stock” means the Company’s common stock, par value $.10 per share. 
  
 “Company” has the meaning assigned thereto in the Preamble
hereof. 
  
 “Effective Failure” has the meaning
assigned thereto in Section 8(b) hereof. 

 “Effectiveness Period” has the meaning assigned thereto in Section 2(b) hereof.

  
 “Effective Time” means the time at which the
Commission declares the Shelf Registration Statement effective or at which the Shelf Registration Statement otherwise becomes effective. 
  
 “Exchange Act” means the United States Securities Exchange Act of 1934, as amended. 
  
 “Holder” means any Subscriber that is the record owner of
Registrable Securities. 
  
 “Initial Effective
Date” means the first date on which the Shelf Registration Statement is declared effective under the Securities Act by the Commission. 
  
 “Indemnified Person” has the meaning assigned thereto in Section 6(a) hereof. 
  
 “Liquidated Damages” has the meaning assigned thereto in
Section 8(a) hereof. 
  
 “Managing Underwriters”
means the investment banker or investment bankers and manager or managers that shall administer an underwritten offering, if any, conducted pursuant to Section 7 hereof. 
  
 “NASD Rules” means the Rules of the National Association of Securities Dealers, Inc., as amended from time
to time. 
  
 The term “person” means an
individual, partnership, corporation, limited liability company, trust or unincorporated organization, or a government or agency or political subdivision thereof. 
  
 “Prospectus” means the prospectus (including, without limitation, any preliminary prospectus, any final
prospectus and any prospectus that discloses information previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A under the Securities Act) included in the Shelf Registration Statement, as
amended or supplemented by any prospectus supplement with respect to the terms of the offering of any portion of the Registrable Securities covered by the Shelf Registration Statement and by all other amendments and supplements to such prospectus,
including all material incorporated by reference in such prospectus and all documents filed after the date of such prospectus by the Company under the Exchange Act and incorporated by reference therein. 
  
 “Questionnaire” means a Selling Securityholder Questionnaire
substantially in the form of Appendix VI to the Subscription Agreement. 
  
 “Registrable Securities” means all or any portion of the Units (including the Underlying Securities comprising the Units); provided, however, that a Security ceases to be a Registrable Security when it is no
longer a Restricted Security. In addition, a Senior Note that has been remarketed or stripped from a Unit shall not be a Registrable Security for purposes of this Agreement. 
  
 “Registration Default” has the meaning assigned thereto in Section 8(a) hereof. 
  
 “Restricted Security” means any Unit except any such
Security that (i) has been effectively registered under the Securities Act and sold in a manner contemplated by the Shelf Registration Statement, (ii) has been transferred in compliance with Rule 144 under the Securities Act (or any successor
provision thereto) or is transferable pursuant to Rule 144(k) as if it was held by a non-affiliate of the Company (or any successor provision thereto), if available, or (iii) ceases to be outstanding (whether as a result of redemption, repurchase,
cancellation or conversion). 
  
 “Rule 144” means
Rule 144 under the Securities Act. 
  

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 “Rules and Regulations” means the published rules and regulations of the Commission
promulgated under the Securities Act or the Exchange Act, as in effect at any relevant time. 
  
 “Securities Act” means the United States Securities Act of 1933, as amended. 
  
 “Security” or “Securities” means all or any portion of the Units, the Senior Notes, the Purchase Contracts, or the
Underlying Shares. 
  
 “Shelf Registration” means
a registration effected pursuant to Section 2 hereof. 
  
 “Shelf Registration Statement” means a “shelf” registration statement filed under the Securities Act providing for the registration of, and the sale on a continuous or delayed basis by the Holders of, all of the
Registrable Securities pursuant to Rule 415 under the Securities Act and/or any similar rule that may be adopted by the Commission, and filed by the Company pursuant to the provisions of Section 2 of this Agreement, including the Prospectus
contained therein, any amendments and supplements to such registration statement, including post-effective amendments, and all exhibits and all material incorporated by reference in such registration statement. If at the time of filing of any
“shelf” registration statement the Company is eligible to file on Form S-3, then the Company agrees to file on such form. 
  
 “Subscribers” means the Subscribers named in Schedule I to the Subscription Agreement. 
  
 “Subscription Agreement” means the subscription agreement,
dated as of May 6, 2004 between the Subscribers and the Company relating to the Securities. 
  
 “Trust Indenture Act” means the Trust Indenture Act of 1939, or any successor thereto, and the rules, regulations and forms promulgated thereunder, as the same shall be amended from time to time.

  
 The term “underwriter” means any underwriter
of Registrable Securities in connection with an offering thereof under a Shelf Registration Statement. 
  
 “Underlying Shares” means the Common Stock deliverable on settlement of the Purchase Contracts. 
  
 “Underlying Securities” means the Securities other than the
Units. 
  
 “Units” means the Units as defined in
the Subscription Agreement. 
  
 “Valid Business
Reason” has the meaning assigned thereto in Section 2(c) hereof. 
  
 (c) Wherever there is a reference in this Agreement to a percentage of the “stated amount” of Registrable Securities or to a percentage of Registrable Securities, Common Stock shall be treated as
representing the stated amount of Units surrendered in order to receive such number of shares of Common Stock. 
  
 2. Shelf Registration. 
  
 (a) The Company shall use its commercially reasonable efforts to file with the Commission, no later than two business days following the Closing Date, a
Shelf Registration Statement registering the Units and the Underlying Securities relating to the offer and sale of the Units by the Holders from time to time in accordance with the methods of distribution elected by such Holders and set forth in
such Shelf Registration Statement and, thereafter, shall use its commercially reasonable efforts to cause such Shelf 
  

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 Registration Statement to be declared effective under the Securities Act no later than 90 calendar days following the
Closing Date. 
  
 (b) The Company shall use its commercially
reasonable efforts to keep the Shelf Registration Statement continuously effective under the Securities Act in order to permit the Prospectus forming a part thereof to be usable by Holders until the earliest of (i) the sale of all Registrable
Securities registered under the Shelf Registration Statement; (ii) the expiration of the period referred to in Rule 144(k) of the Securities Act with respect to all Registrable Securities held by persons that are not Affiliates of the Company, if
available; (iii) all the Registrable Securities have ceased to be outstanding (whether as a result of redemption, repurchase and cancellation or otherwise) and (iv) the sale to the public of all Registrable Securities pursuant to Rule 144, if
available (such period being referred to herein as the “Effectiveness Period”). 
  
 (c) The Company may suspend the use of the Prospectus for a period not to exceed 45 days in any 120-day period or an aggregate of 90 days in any 210-day period if the Board of Directors of the Company shall have
determined in good faith that because of valid business reasons (not including avoidance of the Company’s obligations hereunder), including the acquisition or divestiture of assets, pending corporate developments, public filings with the
Commission, financings and similar events (each, a “Valid Business Reason”), it is in the best interests of the Company to suspend such use, and prior to suspending such use the Company provides the Holders with written notice of such
suspension; provided, however, that (i) the Company shall give written notice of the fact that the Valid Business Reason for such suspension no longer exists promptly after such Valid Business Reason ceases to exist, and (ii) the
Company shall not be permitted to postpone such use during the first 30 days following the Initial Effective Date. 
  
 3. Registration Procedures. In connection with the Shelf Registration Statement, the following provisions shall apply: 
  
 (a) Each Subscriber shall be named as a selling securityholder in the Shelf
Registration Statement as of the Effective Time, and shall have returned a completed and signed Questionnaire to the Company not later than the Closing Date. Any person that becomes a Holder following the Closing Date shall promptly provide such
information to the Company as shall be necessary for the Company to properly amend or supplement the Shelf Registration Statement or the Prospectus. 
  
 (b) The Company shall furnish to each Subscriber, prior to the Effective Time, a copy of the Shelf Registration Statement initially filed with the
Commission, and shall furnish to the then current Holders, prior to the filing thereof with the Commission, copies of each amendment thereto and each amendment or supplement, if any, to the Prospectus included therein, and shall use its commercially
reasonable efforts to reflect in each such document, at the Effective Time or when so filed with the Commission, as the case may be, such comments as such Holders and their respective counsel reasonably may propose. Notwithstanding anything to the
contrary herein, the Company shall not be required to provide to any Holder any reports required to be filed by the Company pursuant to the Exchange Act prior to the filing thereof with the Commission. 
  
 (c) The Company shall as promptly as reasonably practicable take such action
as may be necessary so that (i) each of the Shelf Registration Statement and any amendment thereto and the Prospectus forming a part thereof and any amendment or supplement thereto (and each report or other document incorporated therein by reference
in each case) complies in all material respects with the Securities Act and the Exchange Act and the respective rules and regulations thereunder, (ii) each of the Shelf Registration Statement and any amendment thereto does not, when it is filed with
the Commission, 
  

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 contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or
necessary to make the statements therein not misleading and (iii) except during the periods specified in Section 2(c) above or during the continuance of any events or the existence of any state of facts described in Section 3(d) below, each of the
Prospectus forming a part of the Shelf Registration Statement, and any amendment or supplement to such Prospectus, does not at any time during the Effectiveness Period include an untrue statement of a material fact or omit to state a material fact
necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. 
  
 (d) The Company shall as promptly as reasonably practicable advise each Holder: 
  
 (i) when a Shelf Registration Statement and any amendment thereto has been filed with the Commission and
when a Shelf Registration Statement or any post-effective amendment thereto has become effective; 
  
 (ii) of any request by the Commission for amendments or supplements to the Shelf Registration Statement or the Prospectus included therein
or for additional information; 
  
 (iii) of the
issuance by the Commission of any stop order suspending the effectiveness of the Shelf Registration Statement or the initiation of any proceedings for such purpose; 
  
 (iv) of the receipt by the Company of any notification with respect to the suspension of the qualification
of the securities included in the Shelf Registration Statement for sale in any jurisdiction or the initiation of any proceeding for such purpose; and 
  
 (v) of the occurrence of any event or the existence of any state of facts that requires the making of any changes in the Shelf
Registration Statement or the Prospectus included therein so that, as of such date, such Shelf Registration Statement and Prospectus do not contain an untrue statement of a material fact and do not omit to state a material fact required to be stated
therein or necessary to make the statements therein (in the case of the Prospectus, in light of the circumstances under which they were made) not misleading (which advice shall be accompanied by an instruction to such Holders to suspend the use of
the Prospectus until the requisite changes have been made). 
  
 (e) The Company shall use its commercially reasonable efforts to prevent the issuance, and if issued to obtain the withdrawal at the earliest possible time, of any order suspending the effectiveness of the Shelf Registration Statement.

  
 (f) The Company shall furnish to each Holder, without charge,
at least one copy of the Shelf Registration Statement and all post-effective amendments thereto, including financial statements and schedules, and, if such Holder so requests in writing, all reports, other documents and exhibits that are filed with
or incorporated by reference in the Shelf Registration Statement. 
  
 (g) The Company shall, during the Effectiveness Period, deliver to each Holder, without charge, as many copies of the Prospectus (including each preliminary Prospectus) included in the Shelf Registration Statement and any amendment or
supplement thereto as such Holder may reasonably request; and the Company consents (except during the periods specified in Section 2(c) above or during the continuance of any event or the existence of any state of facts described in Section 3(d)(v)
above) to the use of the Prospectus and any amendment or supplement thereto by each of the Holders in connection 
  

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 with the offering and sale of the Registrable Securities covered by the Prospectus and any amendment or supplement
thereto during the Effectiveness Period. 
  
 (h) Prior to any
offering of Registrable Securities pursuant to the Shelf Registration Statement, the Company shall (i) register or qualify or cooperate with the Holders and their respective counsel in connection with the registration or qualification of such
Registrable Securities for offer and sale under the securities or “blue sky” laws of such jurisdictions within the United States as any Holder may reasonably request, (ii) keep such registrations or qualifications in effect and comply with
such laws so as to permit the continuance of offers and sales in such jurisdictions for so long as may be necessary to enable any Holder or underwriter, if any, to complete its distribution of Registrable Securities pursuant to the Shelf
Registration Statement, and (iii) take any and all other actions necessary or advisable to enable the disposition in such jurisdictions of such Registrable Securities; provided, however, that in no event shall the Company be obligated
to (A) qualify as a foreign corporation or as a dealer in securities in any jurisdiction where it would not otherwise be required to so qualify but for this Section 3(h) or (B) file any general consent to service of process in any jurisdiction where
it is not as of the date hereof so subject. 
  
 (i) Unless any
Registrable Securities shall be in book-entry only form, the Company shall cooperate with the Holders to facilitate the timely preparation and delivery of certificates representing Registrable Securities to be sold pursuant to the Shelf Registration
Statement, which certificates, if so required by any securities exchange upon which any Registrable Securities are listed, if any, shall be penned, lithographed or engraved, or produced by any combination of such methods, on steel engraved borders,
and which certificates shall be free of any restrictive legends and in such permitted denominations and registered in such names as Holders may request in connection with the sale of Registrable Securities pursuant to the Shelf Registration
Statement. 
  
 (j) Upon the occurrence of any event or the
existence of any state of facts contemplated by paragraph 3(d)(v) above, but subject to the Company’s rights pursuant to Section 2(c) above, the Company shall as promptly as practicable prepare a post-effective amendment to any Shelf
Registration Statement or an amendment or supplement to the related Prospectus or file any other required document so that, as thereafter delivered to purchasers of the Registrable Securities included therein, the Prospectus will not include an
untrue statement of a material fact or omit to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. If the Company notifies the Holders of the occurrence of
any event or the existence of any state of facts contemplated by paragraph 3(d)(v) above, the Holder shall suspend the use of the Prospectus until the requisite changes to the Prospectus have been made. 
  
 (k) Not later than the Effective Time of the Shelf Registration Statement,
the Company shall provide a CUSIP number for the Registrable Securities that are eligible therefor. 
  
 (l) The Company shall use its commercially reasonable efforts to comply with all applicable Rules and Regulations, and to make generally available to its
securityholders as soon as practicable, but in any event not later than eighteen months after (i) the effective date (as defined in Rule 158(c) under the Securities Act) of the Shelf Registration Statement, (ii) the effective date of each
post-effective amendment to the Shelf Registration Statement, and (iii) the date of each filing by the Company with the Commission of an Annual Report on Form 10-K that is incorporated by reference in the Shelf Registration Statement, an earning
statement of the Company and its subsidiaries complying with Section 11(a) of the Securities Act and the rules and regulations of the Commission thereunder (including, at the option of the Company, Rule 158). 
  

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 (m) Not later than the Effective Time of the Shelf Registration Statement, the Company shall cause the
Supplemental Indenture to be qualified under the Trust Indenture Act; in connection with such qualification, the Company shall cooperate with the Trustee under the Indenture and the Holders to effect such changes to the Indenture, if any, as may be
required for such Indenture to be so qualified in accordance with the terms of the Trust Indenture Act; and the Company shall execute, and shall use commercially reasonable efforts to cause the Trustee to execute, all documents that may be required
to effect such changes and all other forms and documents required to be filed with the Commission to enable such Indenture to be so qualified in a timely manner. In the event that any such amendment or modification referred to in this Section 3(m)
involves the appointment of a new trustee under the Indenture, the Company shall appoint a new trustee thereunder pursuant to the applicable provisions of the Indenture. 
  
 (n) In the event of an underwritten offering conducted pursuant to Section 7 hereof, the Company shall, if requested,
promptly include or incorporate in a Prospectus supplement or post-effective amendment to the Shelf Registration Statement such information as the Managing Underwriters reasonably agree should be included therein and to which the Company does not
reasonably object and shall make all required filings of such Prospectus supplement or post-effective amendment as soon as practicable after it is notified of the matters to be included or incorporated in such Prospectus supplement or post-effective
amendment. 
  
 (o) The Company shall enter into such customary
agreements (including an underwriting agreement in customary form in the event of an underwritten offering conducted pursuant to Section 7 hereof) and take all other appropriate action in order to expedite and facilitate the registration and
disposition of the Registrable Securities, and in connection therewith, if an underwriting agreement is entered into, cause the same to contain indemnification provisions and procedures substantially identical to those set forth in Section 6 hereof
with respect to all parties to be indemnified pursuant to Section 6 hereof. 
  
 (p) The Company shall: 
  
 (i)(A) make reasonably available for inspection by the Holders, any underwriter participating in any disposition pursuant to the Shelf Registration Statement, and any attorney, accountant or other agent retained by such Holders or any such
underwriter all relevant financial and other records, pertinent corporate documents and properties of the Company and its subsidiaries, and (B) cause the Company’s officers, directors and employees to supply all information reasonably requested
by such Holders or any such underwriter, attorney, accountant or agent in connection with the Shelf Registration Statement, in each case, as is customary for similar due diligence examinations; provided, however, that all records,
information and documents that are designated in writing by the Company, in good faith, as confidential shall be kept confidential by such Holders and any such underwriter, attorney, accountant or agent, unless such disclosure is made in connection
with a court proceeding or required by law, or such records, information or documents become available to the public generally or through a third party without an accompanying obligation of confidentiality; and provided further that, if the
foregoing inspection and information gathering would otherwise disrupt the Company’s conduct of its business, such inspection and information gathering shall, to the greatest extent possible, be coordinated on behalf of the Holders and the
other parties entitled thereto by one counsel designated by and on behalf of the Holders and other parties; 
  
 (ii) in connection with any underwritten offering conducted pursuant to Section 7 hereof, make such 
  

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 representations and warranties to the Holders participating in such underwritten offering and to the
underwriters, in form, substance and scope as are customarily made by the Company to underwriters in primary underwritten offerings of adjustable or conversion-rate equity security units and covering the matters set forth in the Subscription
Agreement; 
  
 (iii) in connection with any
underwritten offering conducted pursuant to Section 7 hereof, obtain opinions of counsel to the Company (which counsel and opinions (in form, scope and substance) shall be reasonably satisfactory to the Managing Underwriters) addressed to each
Holder participating in such underwritten offering and the underwriters, covering such matters as are customarily covered in opinions requested in primary underwritten offerings by the Company of adjustable or conversion-rate equity security units
and such other matters as may be reasonably requested by such Holders and underwriters (it being agreed that the matters to be covered by such opinions shall include, without limitation, as of the date of the opinion and as of the Effective Time of
the Shelf Registration Statement or most recent post-effective amendment thereto, as the case may be, the absence from the Shelf Registration Statement and the Prospectus, including the documents incorporated by reference therein, of an untrue
statement of a material fact or the omission of a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances under which they were made); 
  
 (iv) in connection with any underwritten offering conducted
pursuant to Section 7 hereof, obtain “cold comfort” letters and updates thereof from the independent public accountants of the Company (and, if necessary, from the independent public accountants of any subsidiary of the Company or of any
business acquired by the Company for which financial statements and financial data are, or are required to be, included in the Shelf Registration Statement), addressed to each Holder participating in such underwritten offering (if such Holder has
provided such letter, representations or documentation, if any, required for such cold comfort letter to be so addressed) and the underwriters, in customary form and covering matters of the type customarily covered in “cold comfort”
letters in connection with primary underwritten offerings; 
  
 (v) in connection with any underwritten offering conducted pursuant to Section 7 hereof, deliver such documents and certificates as may be reasonably requested by any Holders participating in such underwritten
offering and the Managing Underwriters, if any, including, without limitation, certificates to evidence compliance with any conditions contained in the underwriting agreement or other agreements entered into by the Company. 
  
 (q) The Company will use its commercially reasonable efforts to cause the
Common Stock issuable upon settlement of the Purchase Contracts to be listed on the New York Stock Exchange or other stock exchange or trading system on which the Company’s Common Stock primarily trades on or prior to the Effective Time of the
Shelf Registration Statement hereunder. 
  
 (r) In the event that
any broker-dealer registered under the Exchange Act shall be an “affiliate” (as defined in Rule 2720(b)(1) of the NASD Rules (or any successor provision thereto)) of the Company or has a “conflict of interest” (as defined in Rule
2720(b)(7) of the NASD Rules (or any successor provision thereto)) and such broker-dealer shall underwrite, participate as a member of an underwriting syndicate or selling group or assist in the distribution of any Registrable Securities covered by
the Shelf Registration Statement, whether as a Holder of such Registrable Securities or as an underwriter, a placement or sales agent or a broker or dealer in respect thereof, or otherwise, the 
  

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 Company shall assist such broker-dealer in complying with the requirements of the NASD Rules, including, without
limitation, by (A) engaging a “qualified independent underwriter” (as defined in Rule 2720(b)(15) of the NASD Rules (or any successor provision thereto)) to participate in the preparation of the registration statement relating to such
Registrable Securities, to exercise usual standards of due diligence in respect thereto and to recommend the public offering price of such Registrable Securities, (B) indemnifying such qualified independent underwriter to the extent of the
indemnification of underwriters provided in Section 6 hereof, and (C) providing such information to such broker-dealer as may be required in order for such broker-dealer to comply with the requirements of the NASD Rules. 
  
 4. Holder’s Obligations. Each holder of Registrable Securities
agrees (i) to keep communications by the Company relating to the suspension of the use of the Shelf Registration Statement as provided herein in confidence; (ii) to promptly furnish to the Company all information required to be disclosed in order to
make the information previously furnished to the Company by such Holder or such Holder’s transferor or with respect to such Holder’s Registrable Securities, not misleading and any other information regarding such Holder and the
distribution of such Registrable Securities as the Company may from time to time reasonably request; and (iii) to use its best efforts to give the Company at least three hours notice of any proposed distribution of Registrable Securities. Any sale
of any Registrable Securities by any Holder shall constitute a representation and warranty by such Holder that the information relating to such Holder and its plan of distribution is as set forth in the Prospectus delivered by such Holder in
connection with such disposition, that such Prospectus does not as of the time of such sale contain any untrue statement of a material fact relating to or provided by such Holder or its plan of distribution and that such Prospectus does not as of
the time of such sale omit to state any material fact relating to or provided by such Holder or its plan of distribution necessary to make the statements in such Prospectus, in the light of the circumstances under which they were made, not
misleading. 
  
 5. Registration Expenses. The Company shall
bear all fees and expenses incurred in connection with the performance of its obligations under Sections 2, 3 and 7 hereof and shall bear or reimburse the Holders for the reasonable fees and disbursements of a single counsel selected by a plurality
of all Holders who own an aggregate of greater than 50% of the stated amount of the Registrable Securities covered by the Shelf Registration Statement to act as counsel therefor in connection with the offer or sale of any Registrable Securities
pursuant to the Shelf Registration Statement which counsel must be reasonably satisfactory to the Company. Each Holder shall pay all underwriting discounts and commissions and transfer and income taxes, if any, relating to the sale or disposition of
such Holder’s Registrable Securities pursuant to the Shelf Registration Statement. 
  
 6. Indemnification and Contribution. 
  
 (a) Indemnification by the Company. Upon the registration of the Registrable Securities pursuant to Section 2 hereof, the Company shall indemnify and hold harmless each Holder and each person, if any, who
controls such Holder within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, underwriter, dealer, selling agent or other securities professional, if any, which facilitates the disposition of Registrable Securities
(each such person being sometimes referred to as an “Indemnified Person”) against any losses, claims, damages or liabilities, joint or several, to which such Indemnified Person may become subject under the Securities Act or otherwise,
insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon an untrue statement or alleged untrue statement of a material fact contained in any Shelf Registration Statement under which such
Registrable Securities are to be registered under the Securities Act, or any Prospectus contained therein or furnished by the Company to any Indemnified Person, or any amendment or supplement thereto, or arise out of or are based upon the omission
or alleged omission to state therein a 
  

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 material fact required to be stated therein or necessary to make the statements therein not misleading, and the Company
hereby agrees to reimburse any such Indemnified Person for any legal or other expenses reasonably incurred by it in connection with investigating or defending any such action or claim as such expenses are incurred; provided, however,
that the Company shall not be liable to any such Indemnified Person in any such case to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged
omission made in such Shelf Registration Statement or Prospectus, or amendment or supplement, in reliance upon and in conformity with written information furnished to the Company by such Indemnified Person expressly for use therein; provided
further that the indemnification contained in this paragraph shall not inure to the benefit of any Holder (or to the benefit of any person controlling such Holder) on account of any such losses, claims, damages or liabilities caused by any
untrue statement or alleged untrue statement or omission or alleged omission made in any preliminary prospectus provided in each case the Company has performed its obligations under Section 3(g) hereof if either (A) (i) such Holder failed to send or
deliver a copy of the Prospectus with or prior to the delivery of written confirmation of the sale by such Holder to the person asserting the claim from which such losses, claims, damages or liabilities arise and (ii) the Prospectus would have
corrected such untrue statement or alleged untrue statement or such omission or alleged omission, or (B) (i) such untrue statement or alleged untrue statement, omission or alleged omission is corrected in an amendment or supplement to the Prospectus
and (ii) having previously been furnished by or on behalf of the Company with copies of the Prospectus as so amended or supplemented, such Holder thereafter fails to deliver such Prospectus as so amended or supplemented, with or prior to the
delivery of written confirmation of the sale of a Registrable Security to the person asserting the claim from which such losses, claims, damages or liabilities arise. 
  
 (b) Indemnification by the Holders. Each Holder agrees, as a consequence of the inclusion of any of such
Holder’s Registrable Securities in such Shelf Registration Statement, severally and not jointly, to (i) indemnify and hold harmless the Company, its directors, officers who sign any Shelf Registration Statement and each person, if any, who
controls the Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, against any losses, claims, damages or liabilities to which the Company or such other persons may become subject, under the
Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon an untrue statement or alleged untrue statement of a material fact contained in such Shelf
Registration Statement or Prospectus, or any amendment or supplement, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not
misleading, in each case to the extent, but only to the extent, that such untrue statement or alleged untrue statement or omission or alleged omission was made in reliance upon and in conformity with written information furnished to the Company by
such Holder, expressly for use therein or with respect to a failure to deliver the Prospectus as described in clause (A) or (B) of Section 6(a) hereof, and (ii) reimburse the Company for any legal or other expenses reasonably incurred by the Company
in connection with investigating or defending any such action or claim as such expenses are incurred. 
  
 (c) Notices of Claims, Etc. Promptly after receipt by an indemnified party under subsection (a) or (b) above of notice of the commencement of any
action, such indemnified party shall, if a claim in respect thereof is to be made against an indemnifying party under this Section 6, notify such indemnifying party in writing of the commencement thereof; but the omission so to notify the
indemnifying party shall not relieve it from any liability which it may have to any indemnified party otherwise than under the indemnification provisions of or contemplated by subsection (a) or (b) above and the indemnifying party, upon request of
the indemnified party, shall retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonable fees and
disbursements of such counsel related to such 
  

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 proceeding. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees
and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel or (ii) the named parties to any such proceeding
(including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them. It is
understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one
separate firm (in addition to any local counsel) for all such indemnified parties and that all such fees and expenses shall be reimbursed as they are incurred. Such firm shall be designated in writing by, in the case of parties indemnified pursuant
to Section 6(a), the Holders of a majority of the stated amount of Registrable Securities covered by the Registration Statement held by Holders that are indemnified parties pursuant to Section 6(a) and, in the case of parties indemnified pursuant to
Section 6(b), the Company. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment to the plaintiff, the indemnifying
party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment (to the extent such settlement or judgment is subject to indemnification under Section 6(a) or 6(b) as the case may be).
No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have
been sought hereunder by such indemnified party, unless such settlement includes (i) an unconditional release of such indemnified party from all liability on claims that are the subject matter of such proceeding and (ii) does not include a statement
as to or an admission of fault, culpability or a failure to act by or on behalf of any indemnified party. 
  
 (d) Contribution. If the indemnification provided for in this Section 6 is unavailable to or insufficient to hold harmless an indemnified party
under subsection (a) or (b) above in respect of any losses, claims, damages or liabilities (or actions in respect thereof) referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party
thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the indemnifying
party or parties on the one hand and the indemnified party or parties on the other hand or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative
benefits referred to in clause (i) above but also the relative fault of the indemnifying party or parties on the one hand and of the indemnified party or parties on the other hand in connection with the statements or omissions that resulted in such
losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Company shall be deemed to be equal to the total net proceeds from the initial placement pursuant to the
Subscription Agreement (before deducting expenses) of the Registrable Securities to which such losses, claims, damages or liabilities relate. The relative benefits received by any Holder shall be deemed to be equal to the value of the right to
transfer Registrable Securities pursuant to the plan of distribution included in the Shelf Registration Statement. The relative fault of such indemnifying party and indemnified party shall be determined by reference to, among other things, whether
the untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact relates to information supplied by such indemnifying party or by such indemnified party, and the parties’ relative intent,
knowledge, access to information and opportunity to correct or prevent such statement or omission. The parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 6(d) were determined by pro rata allocation
(even if the Holders were treated as one entity for such purpose) or by any other method of allocation which does not take account of the equitable considerations referred to in this Section 6(d). The amount paid or payable by an indemnified party
as a 
  

 11 

 result of the losses, claims, damages or liabilities (or actions in respect thereof) referred to above shall be deemed to
include any legal or other fees or expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f)
of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The obligations of the Holders in this Section 6(d) to contribute shall be several in proportion to the percentage of
stated amount of Registrable Securities registered or underwritten, as the case may be, by them and not joint. 
  
 (e) Notwithstanding any other provision of this Section 6, in no event will any (i) Holder be required to undertake liability to any person under this
Section 6 for any amounts in excess of the dollar amount of the proceeds to be received by such Holder from the sale of such Holder’s Registrable Securities (after deducting any fees, discounts and commissions applicable thereto) pursuant to
any Shelf Registration Statement under which such Registrable Securities are to be registered under the Securities Act and (ii) underwriter, dealer, selling agent or other securities professional be required to undertake liability to any person
hereunder for any amounts in excess of the discount, commission or other compensation payable to such underwriter, dealer, selling agent or other securities professional with respect to the Registrable Securities underwritten by it and distributed
to the public. 
  
 (f) The obligations of the Company under this
Section 6 shall be in addition to any liability which the Company may otherwise have to any Indemnified Person and the obligations of any Indemnified Person under this Section 6 shall be in addition to any liability which such Indemnified Person may
otherwise have to the Company. The remedies provided in this Section 6 are not exclusive and shall not limit any rights or remedies which may otherwise be available to an indemnified party at law or in equity. The parties agree to treat any payment
made pursuant to this Section 6 as an adjustment to the purchase price of the Units. 
  
 7. Underwritten Offering. Any Holder of Registrable Securities who desires to do so may sell Registrable Securities (in whole or in part) in an underwritten offering; provided that (i) the Holders of
greater than 50% of the stated amount of Registrable Securities then covered by the Shelf Registration Statement shall request such an offering and (ii) greater than 50% of such stated amount of Registrable Securities shall be included in such
offering; and provided further that the Company shall not be obligated under any circumstances to cooperate with more than one such underwritten offering during any 18-month period. Upon receipt of such a request, the Company shall provide
all Holders of Registrable Securities written notice of the request, which notice shall inform such Holders that they have the opportunity to participate in the offering. In any such underwritten offering, the Managing Underwriters will be selected
by, and the underwriting arrangements with respect thereto (including the size of the offering) will be approved by, the holders of greater than 50% of the stated amount of the Registrable Securities to be included in such offering; provided,
however, that such Managing Underwriters and underwriting arrangements must be reasonably satisfactory to the Company. No Holder may participate in any underwritten offering contemplated hereby unless (a) such Holder agrees to sell all such
Holder’s Registrable Securities to be included in the underwritten offering in accordance with any approved underwriting arrangements and (b) such Holder completes and executes all reasonable questionnaires, powers of attorney, indemnities,
underwriting agreements, lock-up letters and other documents required under the terms of such approved underwriting arrangements. The Holders participating in any underwritten offering shall be responsible for any underwriting discounts and
commissions and fees and, subject to Section 5 hereof, expenses of their own counsel. The Company shall pay all expenses customarily borne by issuers in an underwritten offering, including but not limited to filing fees, the fees and disbursements
of its counsel and independent public accountants and any printing expenses incurred in connection with such underwritten offering. Notwithstanding the foregoing or the provisions of Section 3(n) hereof, upon receipt of a request from the Managing
Underwriter or a representative of 
  

 12 

 holders of a majority of the stated amount of the Registrable Securities to be included in an underwritten offering to
prepare and file an amendment or supplement to the Shelf Registration Statement and Prospectus in connection with an underwritten offering, the Company may delay the filing of any such amendment or supplement for up to 90 days if the Board of
Directors of the Company shall have determined in good faith that the Company has a bona fide business reason for such delay. 
  
 8. Liquidated Damages. 
  
 (a) If on or prior to the 90th day following the Closing Date, such Shelf Registration Statement is not declared effective by the Commission (a “Registration Default”), the Company shall be required to make payments as liquidated damages
(“Liquidated Damages”), and not as a penalty, from and including the day following such Registration Default until such Shelf Registration Statement is declared effective at a rate per annum equal to 0.25% of the stated amount of the Units
outstanding to and including the 60th day following the Registration Default and 0.50% of the stated amount of the
Units outstanding from and after the 61st day following the Registration Default. 
  
 (b) In the event that (i) the Shelf Registration Statement ceases to be
effective, (ii) the Company suspends the use of the Prospectus pursuant to Section 2(c) or 3(j) hereof, (iii) the Holders are not authorized to use the Prospectus pursuant to Section 3(g) hereto or (iv) the Holders are otherwise prevented or
restricted by the Company from effecting sales pursuant to the Shelf Registration Statement (an “Effective Failure”) (A) during the 30-day period immediately after the Initial Effective Date, (B) for more than 45 days, whether or not
consecutive, in any 120-day period or (C) for more than 90 days, whether or not consecutive, in any 210-day period, then the Company shall pay Liquidated Damages, in the case of clause (A) at a rate per annum equal to 0.25% of the stated amount of
the Units outstanding at any time during such 30-day period, in the case of clause (B), at a rate per annum equal to 0.25% of the stated amount of the Units outstanding commencing on the 46th day following such Effective Failure, and in the case of clause (C), at a rate per annum equal to 0.50% of the stated amount of the Units outstanding
commencing on the 151st day following such Effective Failure, until the earlier of (i) the time the Holders of
Registrable Securities are again able to make sales under the Shelf Registration Statement or (ii) the expiration of the Effectiveness Period. 
  
 (c) Any amounts to be paid as Liquidated Damages pursuant to paragraphs (a) or (b) of this Section 8 shall be paid in cash quarterly in arrears, with the
first quarterly payment due on the first Interest Payment Date (as defined in the Indenture), as applicable, following the date of such Registration Default or Effective Failure, as applicable, to the Holders of the Purchase Contracts (or of Common
Stock issued on the settlement of the Purchase Contracts, as the case may be). 
  
 (d) The parties hereto agree that the Holders of Registrable Securities will suffer damages if the events giving rise to Liquidated Damages occur, and that it would not be feasible to ascertain the extent of such
damages with precision. The Liquidated Damages as set forth in this Section 8 shall be the exclusive monetary remedy available to the Holders of Registrable Securities for such Registration Default or Effective Failure. In no event shall the Company
be required to pay Liquidated Damages in excess of the applicable maximum rate per annum of one-half of one percent (0.50%) set forth above, regardless of whether one or multiple Registration Defaults or Effective Failures exist. 
  
 (e) In no event shall a Holder of only Senior Notes, either because the
Senior Notes have been stripped from Units or because they have been acquired through a remarketing of the Senior Notes or otherwise, be entitled to any Liquidated Damages. Instead, such Liquidated Damages shall be paid to the Holders of the
Purchase Contracts (or the Holders of Common Stock received upon settlement of the Purchase Contracts). 
  

 13 

 9. Miscellaneous. 
  
 (a) Other Registration Rights. The Company may grant registration rights that would permit any person that is a third
party the right to piggy-back on any Shelf Registration Statement, provided that if the Managing Underwriter of any underwritten offering conducted pursuant to Section 7 hereof notifies the Company and the Holders that the total amount of
securities which the Holders and the holders of such piggy-back rights intend to include in any Shelf Registration Statement is so large as to materially threaten the success of such offering (including the price at which such securities can be
sold), then the amount, number or kind of securities to be offered for the account of holders of such piggy-back rights will be reduced to the extent necessary to reduce the total amount of securities to be included in such offering to the amount,
number and kind recommended by the Managing Underwriter prior to any reduction in the amount of Registrable Securities to be included in such Shelf Registration Statement. 
  
 (b) Amendments and Waivers. This Agreement, including this Section 9(b), may be amended, and waivers or consents to
departures from the provisions hereof may be given, only by a written instrument duly executed by the Company and the holders of a majority in stated amount of Units then outstanding. Each Holder of Registrable Securities outstanding at the time of
any such amendment, waiver or consent or thereafter shall be bound by any amendment, waiver or consent effected pursuant to this Section 9(b), whether or not any notice, writing or marking indicating such amendment, waiver or consent appears on the
Registrable Securities or is delivered to such Holder. This Agreement may be amended by written agreement signed by the Company and the attorney in fact for the Subscribers, without the consent of the Holders of Registrable Securities, to cure any
ambiguity or to correct or supplement any provision contained herein that may be defective or inconsistent with any other provision contained herein, or to make such other provisions in regard to matters or questions arising under this Agreement
that shall not adversely affect the interests of the Holders of Registrable Securities. 
  
 (c) Notices. All notices and other communications provided for or permitted hereunder shall be given as provided in the Subscription Agreement. 
  
 (d) Parties in Interest. Any person who purchases any Registrable Securities from a Subscriber shall be deemed, for
purposes of this Agreement, to be an assignee of such Subscriber. The parties to this Agreement intend that all Holders of Registrable Securities shall be entitled to receive the benefits of this Agreement and that any Holder shall be bound by the
terms and provisions of this Agreement with respect to their Registrable Securities. All the terms and provisions of this Agreement shall be binding upon, shall inure to the benefit of and shall be enforceable by the respective successors and
assigns of the parties hereto and any Holder from time to time of the Registrable Securities to the aforesaid extent. In the event that any transferee of any Holder of Registrable Securities shall acquire Registrable Securities, in any manner,
whether by gift, bequest, purchase, operation of law or otherwise, such transferee shall, without any further writing or action of any kind, be entitled to receive the benefits of and be conclusively deemed to have agreed to be bound by and to
perform all of the terms and provisions of this Agreement to the aforesaid extent. 
  
 (e) Counterparts. This Agreement may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of
which taken together shall constitute one and the same agreement. 
  
 (f) Headings. The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof. 
  

 14 

 (g) Governing Law. This Agreement shall be governed by and construed in accordance with the laws
of the State of New York. 
  
 (h) Survival; Termination.
The respective indemnities, agreements, representations, warranties and other provisions set forth in this Agreement or made pursuant hereto shall remain in full force and effect, regardless of any investigation (or any statement as to the results
thereof) made by or on behalf of any Holder, any director, officer or partner of such Holder, or any controlling person of any of the foregoing, and shall survive the transfer and registration of the Registrable Securities of such Holder.
Notwithstanding the foregoing, this Agreement and the obligations of the parties hereunder shall terminate upon the end of the Effectiveness Period, except for any liabilities or obligations under Section 4, 5 or 6 hereof and the obligations to make
payments of and provide for Liquidated Damages under Section 8 hereof to the extent such damages accrue prior to the end of the Effectiveness Period, each of which shall remain in effect in accordance with its terms. 
  
 (i) Severability. If any term, provision, covenant or restriction of
this Agreement, or the application thereof in any circumstances, is held to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and
shall in no way be affected, impaired or invalidated thereby, and the parties hereto shall use their reasonable best efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such
term, provision, covenant or restriction, it being intended that all of the rights and privileges of the parties shall be enforceable to the fullest extent permitted by law. 
  
 (j) Entire Agreement. This Agreement is intended by the parties as a final expression of their agreement and is
intended to be a complete and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein and the registration rights granted by the Company with respect to the Registrable
Securities. Except as provided in the Subscription Agreement, there are no restrictions, promises, warranties or undertakings, other than those set forth or referred to herein, with respect to the registration rights granted by the Company with
respect to the Registrable Securities. This Agreement supersedes all prior agreements and undertakings among the parties with respect to such registration rights. No party hereto shall have any rights, duties or obligations other than those
specifically set forth in this Agreement. 
  
 (k)
Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all of which shall together constitute one and the same instrument. 
  
 (l) Jurisdiction and Venue. Each party hereto agrees that any suit,
action or proceeding brought by a Subscriber against the Company in connection with or arising out of this Agreement, the Units or the offer and sale of the Units shall be brought, non-exclusively, in a United States District Court located in the
Southern District of the State of New York. Each party hereto waives its right to trial by jury in any suit, action or proceeding with respect to this Agreement, the Units or the offer and sale of the Units. 
  

 15 

 Please confirm that the foregoing correctly sets forth the agreement between the Company and you.

  

			
	 Very truly yours,
  
 UnumProvident Corporation

		
	By:	 	 /s/ Susan N. Roth

	 	 	

	 Name:
	 	 Susan N. Roth

	 Title:
	 	 Vice President, Corporate Secretary
 and Assistant General Counsel

  
 Accepted as of the date hereof:

  

			
	D.E. Shaw Laminar Portfolios, L.L.C.
		
	 By:
	 	 /s/ Eric Wepsic

	 	 	

	 Name:
	 	 Eric Wepsic

	 Title:
	 	 Authorized Signatory

	
	 D.E. Shaw Valence Portfolios, L.L.C.
 By: D. E. Shaw & Co., L.L.C., as managing member

		
	 By:
	 	 /s/ Eric Wepsic

	 	 	

	 Name:
	 	 Eric Wepsic

	 Title:
	 	 Managing Director

	
	 D.E. Shaw Investment Group, L.L.C.
 By: D. E. Shaw & Co., L.L.C., as managing member

		
	 By:
	 	 /s/ Eric Wepsic

	 	 	

	 Name:
	 	 Eric Wepsic

	 Title:
	 	 Managing Director

	
	FIDELITY PURITAN TRUST: FIDELITY LOW-PRICED STOCK FUND
		
	 By:
	 	 /s/ John Costello

	 	 	

	 Name:
	 	 John Costello

	 Title:
	 	 Assistant Treasurer

  

 16 

 FRANKLIN ADVISERS, INC. ON BEHALF OF THE FOLLOWING: 
  
 FTVIPT – Franklin Income Securities Fund 
 FIST – Franklin Convertible Securities Fund 
 FTIF – Franklin Income Fund 
  

			
		
	 By:
	 	 /s/ Edward Perks

	 	 	

	 Name:
	 	 Edward D. Perks

	 Title:
	 	 Senior Vice President

	
	Highbridge International LLC
		
	 By:
	 	 /s/ Bart Baum

	 	 	

	 By:
	 	 Highbridge Capital Management

	 Name:
	 	 Bart Baum

	 Title:
	 	 Managing Director

	
	 OZ MAC 13 LTD.
 By: OZ Management
L.L.C., its Investment Manager

		
	 By:
	 	 /s/ D. Och

	 	 	

	 Name:
	 	 Daniel S. Och

	 Title:
	 	 Senior Managing Member

	
	 OZ MASTER FUND, LTD.
 By: OZ
Management L.L.C.

		
	 By:
	 	 /s/ D. Och

	 	 	

	 Name:
	 	 Daniel S. Och

	 Title:
	 	 Senior Managing Member

	
	Shepherd Investments International. Ltd.
		
	 By:
	 	 /s/ Michael A. Roth

	 	 	

	 Name:
	 	 Michael A. Roth

	 Title:
	 	 Managing Member of Staro Asset
 Management, L.L.C.,
Investment Manager

  

 17 

			
	Stark Trading
		
	By:	 	 /s/ Michael A. Roth

	 	 	

	 Name:
	 	 Michael A. Roth

	 Title:
	 	 Managing Member of Staro Asset
 Management, L.L.C., General Partner

	
	 T. ROWE PRICE ASSOCIATES, INC.
 as
Investment Adviser to its
 Participating Client Accounts

		
	By:	 	 /s/ Darren N. Braman

	 	 	

	 Name:
	 	 Darren N. Braman

	 Title:
	 	 Vice President

	
	 Bay Pond Partners, L.P.
 By:
Wellington Management Company, LLP,
 As investment adviser

		
	By:	 	 /s/ Julie Jenkins

	 	 	

	 Name:
	 	 Julie A. Jenkins

	 Title:
	 	 Vice President and Counsel

	
	 Bay Pond Investors (Bermuda), L.P.
 By: Wellington Management Company, LLP,
 As investment adviser

		
	By:	 	 /s/ Julie Jenkins

	 	 	

	 Name:
	 	 Julie A. Jenkins

	 Title:
	 	 Vice President and Counsel

  
  

 18 

 Schedule I 
 D.E. Shaw & Co. 
  
 Fidelity Puritan Trust: Fidelity Low-Priced Stock
Fund 
  
 Franklin Income Securities Fund 
 Franklin Convertible Securities Fund 
 Franklin Income Fund 
  
 Highbridge International LLC 
  
 OZ Master Fund, Ltd. 
  
 STARQ Asset Management LLC 
  
 T. Rowe Price Associates, Inc. 
  
 Bay Pond
Partners, L.P. 
  

 19Fifth Supplemental Indenture

 EXHIBIT 4.4 

  
 UNUMPROVIDENT CORPORATION 
  
 to 
  
 JPMORGAN CHASE BANK 
 (FORMERLY KNOWN AS THE CHASE MANHATTAN BANK), 
 as Trustee 
  

  
 FIFTH SUPPLEMENTAL INDENTURE 
  
 Dated as of May 11, 2004 
  
 5.085% SENIOR NOTES DUE 2009 
  

  
 Supplement to Indenture dated as of March 9, 2001 
  

 FIFTH SUPPLEMENTAL INDENTURE, dated as of May 11, 2004 (the “Fifth Supplemental Indenture”), by
and between UNUMPROVIDENT CORPORATION, a Delaware corporation (the “Company”), having its principal office at 1 Fountain Square, Chattanooga, Tennessee 37402, and JPMORGAN CHASE BANK (formerly known as The Chase Manhattan Bank), a New York
banking corporation, as trustee (the “Trustee”), having a Corporate Trust Office at 4 New York Plaza, 15th Floor, New York, New York 10004, as Trustee under the Indenture. 
  
 WHEREAS, the Company and the Trustee have as of March 9, 2001 entered into an Indenture (the “Base Indenture”)
providing for the issuance by the Company from time to time of its senior debt securities; 
  
 WHEREAS, the Company issued a series of 7.625% senior notes due 2011 under the Base Indenture and First Supplemental Indenture dated as of March 9, 2001; 
  
 WHEREAS, the Company issued a series of 7.375% senior debentures due 2032 under the Base Indenture and Second Supplemental
Indenture dated as of June 18, 2002; 
  
 WHEREAS, the Company
issued a series of 7.250% Public Income Notes (PINES®) due 2032 under the Base Indenture
and the Third Supplemental Indenture dated as of June 25, 2002; 
  
 WHEREAS, the Company issued a series of 6.00% senior notes due 2008 under the Base Indenture and Fourth Supplemental Indenture dated as of May 7, 2003; 
  

WHEREAS, the Company has entered into a Subscription Agreement, dated as of May 6, 2004 (the “Subscription Agreement”), with the subscribers
named in Schedule I thereto (the “Subscribers”), subject to the terms and conditions of which the Company has agreed to sell, and the Subscribers have agreed to purchase, an aggregate of 12,000,000 8.25% Adjustable Conversion-Rate Equity
Security Units of the Company (the “Units”); 
  
 WHEREAS, the Company has entered into a Registration Rights Agreement, dated as of May 11, 2004 (the “Registration Rights Agreement”), with the several Subscribers, subject to the terms and conditions of which the Company has
agreed to register the Units and the Underlying Securities (as defined herein) constituting such Units, on a Shelf Registration Statement (as defined herein) for resale for the account of the Subscribers; 
  
 WHEREAS, as contemplated by the Subscription Agreement, the Company desires
to issue a fifth series of senior debt securities under the Base Indenture, and has duly authorized the creation and issuance of such senior debt securities and the execution and delivery of this Fifth Supplemental Indenture to modify the Base
Indenture and provide certain additional provisions as hereinafter described (the Base Indenture, as amended and supplemented by the Fifth Supplemental Indenture, is hereinafter referred to as the “Indenture”); 
  
 WHEREAS, the Company and the Trustee deem it advisable to enter into this
Fifth Supplemental Indenture for the purposes of establishing the terms of such senior debt securities and providing for the rights, obligations and duties of the Trustee with respect to such senior debt securities; 
  

 WHEREAS, the execution and delivery of this Fifth Supplemental Indenture have been authorized by a
resolution of the Board of Directors of the Company; 
  
 WHEREAS,
concurrent with the execution hereof, the Company has delivered an Officers’ Certificate and has caused its counsel to deliver to the Trustee an Opinion of Counsel; and 
  
 WHEREAS, all conditions and requirements of the Base Indenture necessary to make this Fifth Supplemental Indenture a valid,
binding and legal instrument in accordance with its terms have been performed and fulfilled by the parties hereto and the execution and delivery thereof have been in all respects duly authorized by the parties hereto. 
  
 NOW, THEREFORE, THIS FIFTH SUPPLEMENTAL INDENTURE WITNESSETH: 
  
 For and in consideration of the mutual premises and agreements herein
contained, the Company and the Trustee covenant and agree, for the equal and proportionate benefit of all Holders of the Notes (as defined below), as follows: 
  

ARTICLE I 
  
 DEFINITIONS 
  
 Section 1.1.
Definition of Terms. 
  
 Unless otherwise provided herein
or unless the context otherwise requires: 
  
 (a)
a term defined in the Base Indenture has the same meaning when used in this Fifth Supplemental Indenture; 
  
 (b) a term defined anywhere in this Fifth Supplemental Indenture, including the exhibits hereto, has the same meaning throughout;

  
 (c) the singular includes the plural and vice
versa; 
  
 (d) headings are for convenience of
reference only and do not affect interpretation; 
  
 (e) the following terms have the meanings given to them in the Purchase Contract Agreement (as defined below), as in effect on the date hereof: Common Stock; Failed Remarketing; Last Failed Remarketing; Normal Unit; Pledged Note; Purchase
Contract; Remarketing Agent; Remarketing Agreement; Remarketing Date; Remarketing Value; Separate Notes; Stock Purchase Date; Stripped Unit; Subsequent Remarketing Date and Underwriting Agreement; 
  
 (f) the following terms have the meanings given to them in
this Section 1.1(f): 
  
 “Agent Member” means any
member of, or participant in, the Depository. 
  
 “Applicable Procedures” means, with respect to any transfer or transaction involving a Global Note or beneficial interest therein (including the exchange of a Certificated Note for a beneficial interest in a Global Note), the
rules and 

  

 2 

 
procedures of the Depository to the extent applicable to such transaction and as in effect from time to time. 
  
 “Certificated Note” has the meaning specified in Section 2.7(a).

  
 “Collateral Agent” means BNY Midwest Trust Company,
an Illinois trust company, as collateral agent, custodial agent and securities intermediary pursuant to the Pledge Agreement. 
  
 “Global Note” means a Global Security representing the Notes. 
  
 “Issue Date” means May 11, 2004. 
  
 “Pledge Agreement” means the Pledge Agreement, dated as of May 11, 2004, between the Company and the Collateral
Agent, creating a pledge and security interest for the benefit of the Company to secure the obligations of the holders of Units under the Purchase Contracts. 
  

“Purchase Contract Agent” means JPMorgan Chase Bank, a New York banking corporation, as purchase contract agent under the Purchase Contract
Agreement (as defined below), until a successor Purchase Contract Agent shall have become such pursuant to the applicable provisions of the Purchase Contract Agreement, and thereafter “Purchase Contract Agent” shall mean such successor.

  
 “Purchase Contract Agreement” means the Purchase
Contract Agreement, dated as of May 11, 2004, between the Company and JPMorgan Chase Bank, as purchase contract agent. 
  
 “Reset Agent” means a nationally recognized investment banking firm chosen by the Company to determine the Reset Rate. 
  
 “Reset Date” means the date following the Remarketing Date or a
Subsequent Remarketing Date, as applicable, on which the trades in a successful remarketing of the Notes pursuant to the Purchase Contract Agreement and the Remarketing Agreement settle. 
  
 “Reset Rate” means the lowest interest rate per annum (rounded to the nearest one-thousandth (0.001) of one
percent per annum), as determined by the Reset Agent, that the Notes shall bear in order for the Notes to have a market value at the Remarketing Date or any Subsequent Remarketing Date, as the case may be, of at least 100.25% of the Remarketing
Value (or, if the Remarketing Agent is unable to remarket the Notes at such a rate, at a rate below 100.25% in the discretion of the remarketing agent, but in no event less than 100.00%), assuming, for this purpose, even if not true, that all of the
Notes are held as components of Normal Units and will be remarketed. 
  
 “Restricted Security” means all or any portion of the Units or the Underlying Securities except any such Unit or Underlying Security that (i) has been effectively registered under the Securities Act and sold in a manner
contemplated 

  

 3 

 
by the Shelf Registration Statement, (ii) has been transferred in compliance with Rule 144 under the Securities Act (or any successor provision thereto) or
is transferable pursuant to Rule 144(k) as if it was held by a non-affiliate of the Company (or any successor provision thereto), or (iii) such Unit or Underlying Security ceases to be outstanding (whether as a result of redemption, repurchase,
cancellation or conversion). 
  
 “Restricted Security
Legend” means the first legend in Exhibit A and placed on a Restricted Security. 
  
 “Rule 144” means Rule 144 under the Securities Act, or any successor provision thereof. 
  
 “Securities Act” means the Securities Act of 1933, as amended.

  
 “Shelf Registration Statement” means a registration
statement for the registration and resale under Rule 415 under the Securities Act of the Company’s Units and Underlying Securities for the account of the Subscribers, in accordance with the Registration Rights Agreement. 
  
 “Subscribers” has the meaning specified in the Recitals.

  
 “Underlying Securities” means the securities
constituting the Units, being the Notes, the Purchase Contracts and the shares of Common Stock issuable pursuant to the terms of the Purchase Contracts. 
  
 “Units” has the meaning specified in the Recitals. 
  
 ARTICLE II 
  
 CREATION OF THE NOTES 
  

	Section	2.1. Designation of Series. 

  
 Pursuant to the terms hereof and Sections 201 and 301 of the Base Indenture, the Company hereby creates a series of its senior debt securities designated
as the 5.085% Senior Notes due 2009 (the “Notes”), which Notes shall be deemed “Securities” for all purposes under the Base Indenture. 
  

	Section	2.2. Form of Notes. 

  
 The definitive form of the Notes shall be substantially in the form set forth in Exhibit A attached hereto, which is incorporated herein and made
part hereof. The Stated Maturity of the Notes shall be May 15, 2009. 
  

	Section	2.3. Interest and Interest Rate Reset. 

  
 (a) Each Note will bear interest from the Issue Date or from the most recent Interest Payment Date to which interest has been paid or duly provided for,
as the case may be, initially at the rate of 5.085% per annum (the “Interest Rate”) up to but excluding the Reset Date; provided 

  

 4 

 
that in the event that a Last Failed Remarketing occurs, each Note shall continue to bear interest at the Interest Rate until the principal of the Notes is
paid or made available for payment. In the event the Notes are successfully remarketed pursuant to the Purchase Contract Agreement and the Remarketing Agreement, each Note shall bear interest at the Reset Rate from and including the Reset Date to
the date on which the principal of the Notes is paid or made available for payment; provided that any principal and installment of interest which is overdue shall bear interest (to the extent that payment of such interest is enforceable under
applicable law) at the Interest Rate up to but excluding the Reset Date, if any, and thereafter at the Reset Rate, from the dates such amounts are due until they are paid or made available for payment, and such interest shall be payable on demand.
Interest on the Notes initially shall be payable quarterly in arrears on February 15, May 15, August 15 and November 15 of each year (each, an “Interest Payment Date”), commencing August 15, 2004, through and including May 15, 2007 and
then semi-annually in arrears on the Interest Payment Dates of May 15 and November 15 of each year, commencing November 15, 2007, until the principal thereof is paid or made available for payment. 
  
 (b) The amount of interest payable for any period on any Interest Payment
Date will be computed on the basis of a 360-day year consisting of twelve 30-day months. Except as provided in the following sentence, the amount of interest payable for any period shorter than a full quarterly or semi-annual period, as applicable,
for which interest is computed will be computed on the basis of the actual number of days elapsed in such a 90-day or 180-day period, as applicable. In the event that any date on which interest is payable on the Notes is not a Business Day, then
payment of interest payable on such date will be made on the next succeeding day which is a Business Day (and without any interest or other payment in respect of any such delay), except that, if such Business Day is in the next succeeding calendar
year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. 
  

	Section	2.4. Limit on Amount of Notes. 

  
 The Notes will be limited in aggregate principal amount to $300,000,000 and may, upon execution of this Fifth Supplemental Indenture, be executed by the
Company and delivered to the Trustee for authentication, and the Trustee shall thereupon authenticate and deliver said Notes in accordance with a Company Order. 
  

	Section	2.5. Nature of Notes; Minimum Denomination; Payment. 

  
 (a) The Notes shall constitute senior unsecured obligations of the Company and shall rank pari passu with all other unsecured and unsubordinated
indebtedness of the Company from time to time outstanding. 
  
 (b)
The Notes shall be issuable only in registered form and without coupons in denominations of $1,000 and any integral multiples thereof except that an interest in a Note held as part of a Normal Unit represents an ownership interest of 1/40th, or
2.5%, of a Note in aggregate principal amount of $1,000 and will therefore correspond to the stated amount of $25 per Normal Unit. 
  
 (c) The principal of and the interest on the Notes shall be payable at the office or agency of the Company maintained for that purpose in any coin or
currency of the United States 

  

 5 

 
of America that at the time of payment is legal tender for the payment of public or private debts; provided that payment of interest may be made at
the option of the Company by check mailed to the Person entitled thereto at such address as shall appear in the Security Register or by wire transfer to an account appropriately designated by the Person entitled thereto not later than the relevant
Regular Record Date. 
  

	Section	2.6. No Sinking Fund. 

  
 The Notes do not have the benefit of any sinking fund obligation. 
  

	Section	2.7. Form and Delivery; Transfer Restrictions. 

  
 (a) The Notes, on original issuance thereof as a part of the Units on the Issue Date, shall be issued in the form of one or more certificates in
definitive, fully registered form, without interest coupons, with the applicable legends set forth in Exhibit A hereto (such Notes, the “Certificated Notes”); such Certificated Notes shall be duly executed by the Company and
authenticated by the Trustee, and the Company and the Trustee shall cause the Certificated Notes to be registered in the name of JPMorgan Chase Bank (as Purchase Contract Agent and attorney-in-fact for the holders of the Units), which on the Issue
Date shall pledge the Certificated Notes to the Collateral Agent pursuant to the terms and conditions of the Pledge Agreement. 
  
 (b) The Notes, upon an exchange of the Certificated Notes for beneficial interests in a Global Note in accordance with Section 2.9(c) hereof, shall be
issued in the form of one fully registered Global Note registered in the name of The Depository Trust Company (“DTC”), as Depository, or its nominee, and deposited with the Trustee, as custodian for DTC, for credit by DTC to the respective
accounts of beneficial owners of the Separate Notes represented thereby (or such other accounts as they may direct). 
  
 (c) The Certificated Notes (including any Note issued upon transfer or exchange thereof pursuant to the provisions of the Base Indenture), for so long as
they are Restricted Securities, shall be subject to the transfer restrictions set forth in the Restricted Security Legend, and the holder of such Notes, by acceptance thereof, agrees to be bound by such transfer restrictions. Furthermore, in
connection with the registration of a transfer (other than pursuant to a Shelf Registration Statement as contemplated by Section 2.9(b) and (c)) of a Certificated Note that is a Restricted Security by a holder, such holder shall be required, prior
to such registration of transfer, to furnish to the Company and the Trustee a transferor’s certificate in substantially the form set forth in Exhibit B hereto accompanied by an Opinion of Counsel, addressed to the Company, to the effect
that such transfer is being made pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. The Trustee shall not be required to accept for such registration of transfer or for
registration of any exchange any such Certificated Note unless the Trustee and the Company are satisfied that such transfer or exchange is being effected in compliance with the restrictions on transfer as set forth in this Fifth Supplemental
Indenture and in the Restricted Security Legend. For purposes of the next preceding sentence, the Trustee shall be entitled to rely on a completed Exhibit B as evidence that the restrictions on transfer set forth in the Restricted Security
Legend have been complied with. For the avoidance of doubt, solely in connection with the transfer of a Pledged Note (or a beneficial interest therein) to the holder of a Normal Unit, resulting in the exchange of such Pledged Note (or a beneficial
interest therein) for a Certificated Note, the transferor need not deliver a certificate in substantially the form set forth in Exhibit B hereto or the foregoing 

  

 6 

 
Opinion of Counsel or otherwise comply with the restrictions on transfer set forth in this Fifth Supplemental Indenture or in the Restricted Security Legend.

  

	Section	2.8. Notes Not Convertible or Exchangeable. 

  
 Except as set forth in Section 2.9, the Notes will not be convertible or exchangeable for other securities or property. 
  

	Section	2.9. Removal of Restricted Security Legend; Exchange of Certificated Notes for Beneficial Interests in a Global Note. 

  
 (a) The transfer restrictions imposed pursuant to the Restricted Security
Legend on any Certificated Note pursuant to Section 2.7(c) shall cease and terminate when such Certificated Note ceases to be a Restricted Security. Any Certificated Note as to which such transfer restrictions have terminated may, upon surrender of
such Certificated Note for exchange to the Trustee in accordance with its applicable procedures (accompanied, in the event that such restrictions on transfer have terminated by reason of a transfer pursuant to Rule 144, by an Opinion of Counsel
addressed to the Company to the effect that the transfer of such Certificated Note has been made in compliance with Rule 144), be exchanged for a new Note or Notes in certificated form, of like aggregate principal amount, which shall not bear the
Restricted Security Legend. If such legend has been removed from a Certificated Note as provided above, no other Note issued in exchange for all or any part of such Certificated Note that was a Restricted Security shall bear such legend, unless the
Company has reasonable cause to believe that such other Note is a “restricted security” within the meaning of Rule 144 and instructs the Trustee in writing to cause a legend to appear thereon. The Company and the Trustee shall not be
liable for any action taken or omitted to be taken by it in good faith in accordance with the aforementioned Opinion of Counsel. 
  
 (b) Notwithstanding anything to the contrary in the Indenture, if and for so long as the Shelf Registration Statement is in effect under the Securities
Act and the use of the prospectus included therein has not been suspended pursuant to the terms of the Registration Rights Agreement, the Notes may only be transferred in a transaction covered by the plan of distribution included in such prospectus.
In connection with such a transfer, the transferor shall surrender the Certificated Note or Certificated Notes as provided in Section 2.9(c), and the transferee thereof shall receive in lieu thereof a beneficial interest of like aggregate principal
amount in the Global Note referred to in Section 2.7(b), which shall not be subject to the transfer restrictions imposed by the Restricted Security Legend. The Company shall inform the Trustee of the effective date of the Shelf Registration
Statement and whether the use of the prospectus included therein has been suspended. The Trustee shall not be liable for any action taken or omitted to be taken by it in good faith in accordance with the Shelf Registration Statement. 
  
 (c) If the holder of a Certificated Note wishes at any time to transfer such
Certificated Note to a person who, pursuant to Section 2.9(b), must take delivery thereof in the form of a beneficial interest in the Global Note, such transfer may be effected, subject to the other provisions of the Indenture and the Applicable
Procedures, only in accordance with this Section 2.9(c). A holder wishing to so transfer the Certificated Note shall notify the Trustee sufficiently in advance of, and the Trustee shall promptly instruct the Depository with respect to, such proposed
transfer, as follows: Upon receipt by 
  

 7 

 (1) the Depository of (A) written instructions from the Trustee given in accordance with the Applicable
Procedures directing the Depository to credit or cause to be credited to a specified Agent Member’s account a beneficial interest in the Global Note, as contemplated by Section 2.7(b), in a principal amount equal to the principal amount of the
Certificated Note to be so transferred, (B) a written order given in accordance with the Applicable Procedures containing information regarding the account of the Agent Member to be credited with such beneficial interest and (C) an appropriately
completed certificate substantially in the form of Exhibit B hereto, and 
  
 (2) the Trustee of (A) the Certificated Note to be transferred, (B) notification from the Depository of the transaction described in (1) above and (C) the certificate described in (l)(C) above, 
  
 the Trustee shall cancel the Certificated Note and instruct the Depository to increase the
principal amount of the Global Note, by the principal amount of the Certificated Note so transferred, and to credit or cause to be credited to the account of the person specified in such instructions a corresponding principal amount of the Global
Note. For the avoidance of doubt, solely in connection with the transfer of a Pledged Note (or a beneficial interest therein) to the holder of a Normal Unit resulting in the exchange of such Pledged Note (or a beneficial interest therein) for a
beneficial interest in a Global Note, the transferor need not deliver a certificate in substantially the form set forth in Exhibit B hereto. 
  

	Section	2.10. Certain Provisions Applicable to the Global Note. 

  
 (a) DTC shall serve as the initial Depository for the Global Note. 
  
 (b) Unless and until it is exchanged for definitive Notes in registered form in accordance with the terms of the Base
Indenture, a Global Note may be transferred, in whole but not in part, only to another nominee of the Depository, or to a successor Depository selected or approved by the Company or to a nominee of such successor Depository. 
  
 (c) The Company hereby waives its right under clause (z) of the fourth
paragraph of Section 305 of the Base Indenture to unilaterally determine that the Notes will no longer be represented by a Global Note. 
  

	Section	2.11. No Additional Amounts. 

  
 No Additional Amounts shall be payable with respect to the Notes. 
  

	Section	2.12. Defeasance. 

  
 The defeasance provisions of Article Fourteen of the Base Indenture shall not apply to the Notes. 
  

	Section	2.13. Redemption. 

  
 Pursuant to Section 301(6) and Section 1101 of the Base Indenture, so long as any of the Notes are Outstanding, the following provisions shall be
applicable to the Notes: 
  
 (a) If certain events specified in
Exhibit A attached hereto shall occur and be continuing, the Company may, at its option, redeem the Notes then Outstanding in whole (but not in part) at any time at the redemption price and in accordance with the terms and conditions set
forth in Exhibit A. 
  

 8 

 (b) Notwithstanding Section 1104 of the Indenture, notice of redemption shall be sufficient if instead of
setting forth a specific price with respect to the Redemption Price, it sets forth the manner of calculation thereof. 
  

	Section	2.14. Remarketing. 

  
 The Notes may be remarketed at a specified price on certain dates, all as specified in Exhibit A and in Section 5.4(b) of the Purchase Contract
Agreement and Section 4.5(d) of the Pledge Agreement. 
  

	Section	2.15. Notes Constitute Indebtedness. 

  
 Each Note issued hereunder shall provide that the Company, each holder and any Person that acquires a beneficial interest in that Note agree, by the
acceptance of such Note or such beneficial interest, that it is intended that the Notes constitute indebtedness of the Company for federal, state and local tax purposes. 
  
 ARTICLE III 
  
 APPOINTMENT OF THE TRUSTEE FOR THE NOTES 
  

	Section	3.1. Appointment of Trustee. 

  
 Pursuant and subject to the Indenture, the Company and the Trustee hereby constitute the Trustee as trustee to act on behalf of the Holders of the Notes,
and as the principal Paying Agent and Security Registrar for the Notes, effective upon execution and delivery of this Fifth Supplemental Indenture. By execution, acknowledgment and delivery of this Fifth Supplemental Indenture, the Trustee hereby
accepts appointment as trustee, Paying Agent and Security Registrar with respect to the Notes, and agrees to perform such trusts upon the terms and conditions set forth in the Indenture and in this Fifth Supplemental Indenture. 
  

	Section	3.2. Rights, Powers, Duties and Obligations of the Trustee. 

  
 Any rights, powers, duties and obligations by any provisions of the Indenture conferred or imposed upon the Trustee shall, insofar as permitted by law, be
conferred or imposed upon and exercised or performed by the Trustee with respect to the Notes. 
  

 9 

 ARTICLE IV 
  
 MISCELLANEOUS 
  

	Section	4.1. Application of Fifth Supplemental Indenture. 

  
 Each and every term and condition contained in this Fifth Supplemental Indenture that modifies, amends or supplements the terms and conditions of the Base
Indenture shall apply only to the Notes created hereby and not to any future series of Securities. 
  

	Section	4.2. Benefits of Fifth Supplemental Indenture. 

  
 Nothing contained in this Fifth Supplemental Indenture shall or shall be construed to confer upon any person other than a Holder of the Notes, the Company
and the Trustee any right or interest to avail itself or himself, as the case may be, of any benefit under any provision of the Base Indenture or this Fifth Supplemental Indenture. 
  

	Section	4.3. Effective Date. 

  
 This Fifth Supplemental Indenture shall be effective as of the date first above written and upon the execution and delivery hereof by each of the parties
hereto. 
  

	Section	4.4. Governing Law. 

  
 THIS FIFTH SUPPLEMENTAL INDENTURE AND EACH NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
  

	Section	4.5. Counterparts. 

  
 This Fifth Supplemental Indenture may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such
counterparts shall together constitute but one and the same instrument. 
  

	Section	4.6. Ratification of Base Indenture. 

  
 The Base Indenture, as supplemented by this Fifth Supplemental Indenture, is in all respects ratified and confirmed, and this Fifth Supplemental Indenture
shall be deemed part of the Base Indenture in the manner and to the extent herein and therein provided. 
  

	Section	4.7. Satisfaction and Discharge. 

  
 The satisfaction and discharge provisions of Article Four of the Base Indenture shall not apply to the Notes. 
  

	Section	4.8. Validity and Sufficiency. 

  
 The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Fifth Supplemental Indenture or for
or in respect of the recitals contained herein, all of which are made solely by the Company. 
  

 10 

 IN WITNESS WHEREOF, the parties hereto have caused this Fifth Supplemental Indenture to be duly
executed by their respective officers hereunto duly authorized, all as of the day and year first above written. 
  

			
	 UNUMPROVIDENT CORPORATION,
as Issuer

		
	 By:
	 	 /s/ Robert C. Greving

	 	 	

	 	 	 Name: Robert C. Greving
 Title: Executive Vice President and
           Chief Financial Officer

  

	
	 Attest:

	
	 /s/ Susan N. Roth

	

	 Name: Susan N. Roth
 Title: Vice President, Corporate Secretary
           and Assistant General Counsel

  

			
	 JPMORGAN CHASE BANK,
as Trustee

		
	 By:
	 	 /s/ James D. Heaney

	 	 	

	 	 	 Name: James D. Heaney
 Title: Vice President

  

	
	 Attest:

	
	 /s/ Virginia Dominguez

	

	 Name: Virginia Dominguez
 Title: Trust Officer

  

 EXHIBIT A 
  
 FORM OF SENIOR NOTE 
  
 [If applicable, insert — THIS INSTRUMENT IS A CONTINGENT PAYMENT DEBT OBLIGATION ISSUED WITH ORIGINAL ISSUE DISCOUNT
(“OID”) FOR PURPOSES OF SECTIONS 1273 AND 1275 OF THE UNITED STATES INTERNAL REVENUE CODE OF 1986, AS AMENDED. FOR FURTHER INFORMATION, PLEASE CONTACT THE CHIEF FINANCIAL OFFICER OF UNUMPROVIDENT CORPORATION AT
423-294-1309, WHO WILL, BEGINNING NO LATER THAN 10 DAYS AFTER THE ORIGINAL ISSUE DATE, PROMPTLY PROVIDE TO THE HOLDERS OF THIS INSTRUMENT THE ISSUE PRICE, ISSUE DATE, COMPARABLE YIELD AND PROJECTED PAYMENT SCHEDULE OF THIS INSTRUMENT FOR SUCH
PURPOSES.] 
  
 [Restricted Security Legend: If the Note
is a Restricted Security, insert — THIS NOTE WAS SOLD IN A PRIVATE PLACEMENT, WITHOUT REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY OTHER APPLICABLE SECURITIES LAWS AND MAY NOT BE SOLD OR
OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM. EACH PURCHASER FURTHER AGREES THAT THIS NOTE SHALL NOT BE TRANSFERRED TO A SUBSEQUENT PURCHASER PURSUANT TO RULE 144A UNDER THE SECURITIES ACT. EACH
PURCHASER OF THIS NOTE WILL BE DEEMED TO REPRESENT THAT IT HAS BEEN AFFORDED AN OPPORTUNITY TO INVESTIGATE MATTERS RELATING TO THE COMPANY AND THIS NOTE, THAT IT IS NOT ACQUIRING THIS NOTE WITH A VIEW TO ANY DISTRIBUTION THEREOF AND THAT IT IS A
QUALIFIED INSTITUTIONAL BUYER (“QIB”) WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT WHICH IS ACQUIRING THIS NOTE FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ONE OR MORE ACCOUNTS, EACH OF WHICH IS A QIB AND WITH RESPECT TO WHICH IT
HAS SOLE INVESTMENT DISCRETION.] 
  
 [If the Note is a Global
Note, insert — THIS NOTE IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITORY OR A NOMINEE OF THE DEPOSITORY, WHICH MAY BE TREATED BY THE COMPANY, THE TRUSTEE AND ANY
AGENT THEREOF AS OWNER AND HOLDER OF THIS NOTE FOR ALL PURPOSES, INCLUDING THE PAYMENT OF PRINCIPAL AND INTEREST. 
  
 UNLESS AND UNTIL THIS NOTE IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE REGISTERED FORM IN THE LIMITED CIRCUMSTANCES REFERRED TO IN THE
INDENTURE, THIS GLOBAL NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITORY TO A NOMINEE OF THE DEPOSITORY OR BY A NOMINEE OF THE DEPOSITORY TO THE DEPOSITORY OR ANOTHER NOMINEE OF THE DEPOSITORY OR BY THE DEPOSITORY OR ANY SUCH NOMINEE
TO A SUCCESSOR DEPOSITORY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITORY.] 
  
 [If the Depository is The Depository Trust Company, insert — UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) 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 SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT HEREON IS MADE TO CEDE
& CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY A PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.] 
  

			
	 No.
	  	 
		
	 CUSIP No. [             ]
	  	$_____________

  

 A-1 

 UNUMPROVIDENT CORPORATION 
 5.085% SENIOR NOTE DUE 2009 
  
 (a) UNUMPROVIDENT CORPORATION, a corporation duly organized and existing under the laws of the State of Delaware (the “Company”, which term includes any successor Person under the Indenture hereinafter referred to), for value
received, hereby promises to pay to              (the “Holder”), the principal sum of              United
States dollars (U.S.$            ) [If the Note is a Global Note, insert — , as such amount may be increased or decreased as set forth on the Schedule of Increases or
Decreases in Global Note annexed hereto,] [If the Note is a Pledged Note, insert —, as such amount may be increased or decreased as set forth on the Schedule of Increases or Decreases in Pledged Note annexed hereto,] on May 15, 2009
(such date is hereinafter referred to as the “Stated Maturity”), and to pay interest thereon, from May 11, 2004, or from the most recent Interest Payment Date (as defined below) for which interest has been paid or duly provided for,
initially at the rate of 5.085% per annum (the “Interest Rate”) up to, but excluding, the Reset Date; provided that in the event a Last Failed Remarketing occurs, this Note shall continue to bear interest at the Interest Rate until
the principal of the Notes is paid or made available for payment. In the event the Notes are successfully remarketed pursuant to the Purchase Contract Agreement and the Remarketing Agreement, this Note shall bear interest at the Reset Rate, from and
including the Reset Date to the date on which principal hereof is paid or made available for payment; provided that any principal and installment of interest which is overdue shall bear interest (to the extent that payment of such interest is
enforceable under applicable law) at the Interest Rate up to but excluding the Reset Date, if any, and thereafter at the Reset Rate, from the dates such amounts are due until they are paid or made available for payment, and such interest shall be
payable on demand. Interest on this Note initially shall be payable quarterly in arrears on February 15, May 15, August 15 and November 15 of each year (each, an “Interest Payment Date”), commencing August 15, 2004 through and including
May 15, 2007, and then semi-annually in arrears on the Interest Payment Dates of May 15 and November 15 of each year, commencing on November 15, 2007, until the principal hereof is paid or made available for payment. The interest so payable, and
punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture, be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on the Regular Record
Date for such interest, which shall be, so long as the Notes are represented by a Global Note, the Business Day prior to the relevant Interest Payment Date, and in case the Notes are not represented by a Global Note, the 15th calendar day (whether
or not a Business Day) prior to the relevant Interest Payment Date. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in
whose name this Note (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice of which shall be given to Holders of
Securities of this series not less than 10 days prior to such Special Record Date and shall otherwise be payable, all as more fully provided in the Indenture. Payments of principal shall be made upon the surrender of this Note at the Corporate Trust
Office of the Trustee, or at such other office or agency of the Company as may be designated by the Company for such purpose in the Borough of Manhattan, The City of New York or in the City of Chattanooga, Tennessee, in such coin or currency of the
United States of America as at the time of payment shall be legal tender for the payment of public and private debts, by Dollar check drawn on, or transfer to, a Dollar account. Payments of interest on this Note may be made by Dollar check, drawn on
a Dollar account, mailed to the address of the Person entitled thereto as such address shall appear in the Security Register, or, upon written application by the Holder to 

  

 A-2 

 
the Security Registrar setting forth wire instructions not later than the relevant Regular Record Date, by wire transfer to a Dollar account. The amount of
interest payable for any period on any Interest Payment Date shall be computed on the basis of a 360-day year consisting of twelve 30-day months. Except as provided in the following sentence, the amount of interest payable for any period shorter
than a full quarterly or semi-annual period, as applicable, for which interest is computed will be computed on the basis of the actual number of days elapsed in such a 90-day or 180-day period, as applicable. In the event that any date on which
interest is payable on the Notes is not a Business Day, then payment of interest payable on such date will be made on the next succeeding day which is a Business Day (and without any interest or other payment in respect of any such delay), except
that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. 
  
 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 fully set forth at this place. 
  
 Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof or an Authentication Agent by the
manual signature of one of their respective authorized signatories, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 
  

 A-3 

 IN WITNESS WHEREOF, the Company has caused this Note to be executed and delivered under its corporate
seal. 
  

			
	 UNUMPROVIDENT CORPORATION

		
	 By:
	 	 
	 	 	

	 	 	 Name:

	 	 	 Title:

  
 Attest: 
  

	
	 
	
	  
	

	 Name:

	 Title:

  
 CERTIFICATE OF
AUTHENTICATION 
  
 This is one of the Notes of the series
designated herein referred to in the within-mentioned Indenture. 
  
 Dated:

  

			
	 JPMORGAN CHASE BANK,
as Trustee

		
	 By:
	 	 
	 	 	

	 	 	 Authorized Officer

  

 A-4 

 [FORM OF REVERSE] 
  

This Note is one of a duly authorized issue of securities of the Company designated as its “5.085% Senior Notes due 2009” (herein sometimes
referred to as the “Notes”), limited in aggregate principal amount to $300,000,000, issued and to be issued under and pursuant to an Indenture, dated as of March 9, 2001 (the “Base Indenture”), duly executed and delivered between
the Company and JPMorgan Chase Bank (formerly known as The Chase Manhattan Bank), as Trustee (the “Trustee”), and a Fifth Supplemental Indenture, dated as of May 11, 2004, between the Company and the Trustee (such Base Indenture as amended
and supplemented by the Fifth Supplemental Indenture, the “Indenture”), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and
immunities thereunder of the Company, the Trustee and the Holders of the Notes and of the terms upon which the Notes are, and are to be, authenticated and delivered. 
  
 The Notes are issuable only in registered form without coupons, in denominations of $1,000 and any integral multiple thereof
except that an interest in a Note held as part of a Normal Unit represents an ownership interest of 1/40th, or 2.5%, of a Note in aggregate principal amount of $1,000 and will therefore correspond to the stated amount of $25 per Normal Unit. As
provided in the Indenture and subject to certain limitations therein set forth, Notes of this series so issued are exchangeable for a like aggregate principal amount of Notes of a different authorized denomination, as requested by the Holder
surrendering the same [If the Note is a Certificated Note, insert — and, under the terms and conditions set forth in the Fifth Supplemental Indenture, for beneficial interests in a Global Note]. 
  
 The Notes were initially issued as components of the Company’s 8.25%
Adjustable Conversion-Rate Equity Security Units that are in the form of Normal Units, each such Normal Unit initially consisting of (a) a stock purchase contract (each, a “Purchase Contract”) under which (i) the holder will agree to
purchase from the Company on May 15, 2007, a specified number of newly issued shares of common stock, par value $0.10 per share, of the Company and (ii) the Company will pay to the holder quarterly contract adjustment payments and (b) a 1/40, or
2.5%, ownership interest in a Note of $1,000 principal amount. In accordance with the terms of the Purchase Contract Agreement, on their initial issuance, the Notes were pledged by the Purchase Contract Agent, on behalf of the holders of the Normal
Units, to BNY Midwest Trust Company, as collateral agent, custodial agent and securities intermediary (the “Collateral Agent”), pursuant to the Pledge Agreement, dated as of May 11, 2004 (the “Pledge Agreement”), among the
Company, the Purchase Contract Agent and the Collateral Agent, to secure such holders’ obligations to purchase shares of common stock of the Company under the Purchase Contracts. Pursuant to the Remarketing Agreement, the Remarketing Agent
shall use its commercially reasonable best efforts to remarket the Notes that are included in Normal Units at a specified price on certain dates, all as specified in Section 5.4(b) of the Purchase Contract Agreement. Pursuant to Section 4.5(d) of
the Pledge Agreement, Holders of all other Notes may elect to have such Notes remarketed in accordance with the procedures set forth therein. 
  
 If a Special Event (as herein defined) shall occur and be continuing, the Company may, at its option, redeem the Notes then Outstanding in whole (but not
in part) at any time (“Special Event Redemption”) at the Redemption Price (as herein defined). If such Special Event Redemption occurs prior to a successful remarketing pursuant to Section 5.4 of the Purchase Contract Agreement, the
Redemption Price payable with respect to the Notes pledged to the Collateral Agent under the Pledge Agreement will be paid to the Collateral Agent on the Special 

  

 A-5 

 
Event Redemption Date on or prior to 12:00 p.m., New York City time, by wire transfer in immediately available funds at such place and at such account as may
be designated by the Collateral Agent in exchange for the Notes pledged to the Collateral Agent. In such event, the Collateral Agent shall apply such Redemption Price pursuant to the terms of the Purchase Contract Agreement and the Pledge Agreement.

  
 Notice of any redemption will be mailed at least 30 days but
not more than 60 days before the date of redemption (the “Special Event Redemption Date”) to each registered Holder of Notes to be redeemed at its registered address as more fully provided in the Indenture. Unless the Company defaults in
payment of the Redemption Price, on and after the Special Event Redemption Date interest shall cease to accrue on such Notes. 
  
 “Accounting Event” means the receipt at any time prior to the earlier of the date of any successful remarketing of the Notes pursuant to the
Purchase Contract Agreement and the Remarketing Agreement and the Stock Purchase Date by the audit committee of the Board of Directors of a written report in accordance with Statement on Auditing Standards (“SAS”) No. 97, “Amendment
to SAS No. 50 – Reports on the Application of Accounting Principles,” from the Company’s independent auditors, provided at the request of the management of the Company, to the effect that, as a result of a change in accounting rules
applicable to the Company after May 1, 2004, the Company must either (a) account for the Purchase Contracts as derivatives under SFAS 133 (or any successor accounting standard) or (b) account for the Units using the if-converted method under SFAS
128 (or any successor accounting standard), and that such accounting treatment will cease to apply upon redemption of the Notes. 
  
 “Quotation Agent” means Goldman, Sachs & Co. or any of its successors or any other primary U.S. government securities dealer in New York
City selected by the Company. 
  
 “Redemption Price”
means, for each Note, whether or not included in a Normal Unit, the product of (i) the principal amount of such Note and (ii) a fraction whose numerator is the applicable Treasury Portfolio Purchase Price (as herein defined) and whose denominator is
the applicable Special Event Redemption Principal Amount (as herein defined). 
  
 “Special Event” means either a Tax Event or an Accounting Event. 
  
 “Special Event Redemption Principal Amount” means (i) in the case of a Special Event Redemption Date occurring prior to a successful remarketing
of the Notes pursuant to the Purchase Contract Agreement, the aggregate principal amount of Notes included in Normal Units on such date, and (ii) in the case of a Special Event Redemption Date occurring after a successful remarketing of the Notes
pursuant to the Purchase Contract Agreement or the Stock Purchase Date, the aggregate principal amount of the Notes. 
  
 “Tax Event” means the receipt by the Company of an opinion of a nationally recognized tax counsel experienced such matters (which may be
Sullivan & Cromwell LLP), to the effect that there is more than an insubstantial risk that interest payable by the Company on the Notes on the next Interest Payment Date will not be deductible, in whole or in part, by the Company for United
States federal income tax purposes as a result of (a) any amendment to, or change (including any announced proposed change) in, the laws (or any regulations thereunder) of the United States or any political subdivision or taxing authority thereof or
therein affecting taxation, (b) any amendment to or change in an official interpretation or application of such laws or 

  

 A-6 

 
regulations by any legislative body, court, governmental agency or regulatory authority or (c) any official interpretation, pronouncement or application that
provides for a position with respect to such laws or regulations that differs from the generally accepted position on May 6, 2004, which amendment, change or proposed change is effective or which interpretation or pronouncement is announced on or
after May 6, 2004. 
  
 “Treasury Portfolio” means: (i)
if a Special Event Redemption occurs prior to a successful remarketing of the Notes pursuant to the provisions of the Purchase Contract Agreement, a portfolio (A) of zero coupon U.S. Treasury securities consisting of principal or interest strips of
U.S. Treasury securities that mature on or prior to May 15, 2007 in an aggregate amount equal to the applicable Special Event Redemption Principal Amount and (B) with respect to each scheduled Interest Payment Date on the Notes that occurs after the
Special Event Redemption Date and on or before May 15, 2007, interest or principal strips of U.S. Treasury securities that mature on or prior to such Interest Payment Date in an aggregate amount equal to the aggregate interest payment that would be
due on the applicable Special Event Redemption Principal Amount on such date if the interest rate of the Notes were not reset on the Reset Date, and (ii) solely for purposes of determining the Treasury Portfolio Purchase Price in the case of a
Special Event Redemption Date occurring after a successful remarketing of the Notes pursuant to the Purchase Contract Agreement or May 15, 2007, a portfolio (A) of zero coupon U.S. Treasury securities consisting of principal or interest strips of
U.S. Treasury securities that mature on or prior to the Maturity Date in an aggregate amount equal to the applicable Special Event Redemption Principal Amount and (B) with respect to each scheduled Interest Payment Date on the Notes that occurs
after the Special Event Redemption Date and on or before the Maturity Date, interest or principal strips of U.S. Treasury securities that mature on or prior to such Interest Payment Date in an aggregate amount equal to the aggregate interest payment
that would be due on the applicable Special Event Redemption Principal Amount of the Notes Outstanding on the Special Event Redemption Date. 
  
 “Treasury Portfolio Purchase Price” means the lowest aggregate price quoted by a primary U.S. government securities dealer in New York City to
the Quotation Agent on the third Business Day immediately preceding the Special Event Redemption Date for the purchase of the Treasury Portfolio for settlement on the Special Event Redemption Date. 
  
 No sinking fund is provided for the Notes. 
  
 In the event of a redemption of the Notes, the Company will not be required
(a) to register the transfer or exchange of Notes for a period of 15 days immediately preceding the selection of Notes for redemption or (b) to register the transfer or exchange of any Note, or portion thereof, called for redemption. 
  
 In case an Event of Default shall occur and be continuing, the principal of
all of the Notes, together with accrued interest to the date of declaration, may be declared due and payable in the manner and with the effect provided in the Indenture. 
  
 The Company, each Holder and any Person that acquires [If the Note is a Global Note, insert — a beneficial
interest] in this Note agree, by the acceptance of this Note [If the Note is a Global Note, insert — or a beneficial interest therein,] that it is intended that the Notes constitute indebtedness of the Company for federal, state and
local tax purposes. 
  

 A-7 

 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the
modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the written consent of the Holders of not
less than a majority in principal amount of the Securities at the time Outstanding and affected thereby. 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 the 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 in exchange herefor or in lieu hereof whether or not notation of such consent or waiver is made upon this Note or such other Note. 

 
 As provided in and subject to the provisions of the Indenture, the Holder
of this Note shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless (i) such Holder shall have previously given the Trustee
written notice of a continuing Event of Default, (ii) the Holders of not less than 25% in principal amount of the Notes that are Outstanding shall have made a written request to the Trustee to institute proceedings in respect of such Event of
Default as Trustee and offered the Trustee indemnity satisfactory to it, (iii) the Trustee shall not have received from the Holders of a majority in principal amount of the Notes that are Outstanding a direction inconsistent with such request, and
(iv) the Trustee shall have failed to institute any such proceeding for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by any Holder of this Note for the enforcement of any
payment of principal hereof, or any premium of interest hereon on or after the respective due dates expressed herein. 
  
 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, premium, if any, and interest on this Note at the times, places and rate, and in the coin or currency, herein prescribed. 
  
 As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Note is registrable
on the Security Register upon surrender of this Note for registration of transfer at the Corporate Trust Office of the Trustee or at such other office or agency of the Company as may be designated by it for such purpose in the Borough of Manhattan,
The City of New York or the City of Chattanooga, Tennessee (which shall initially be an office or agency of the Trustee), or at such other offices or agencies as the Company may designate, duly endorsed by, or accompanied by a written instrument of
transfer in form satisfactory to the Security Registrar duly executed by, the Holder thereof or his attorney duly authorized in writing, and thereupon one or more new Notes, of authorized denominations and for the same aggregate principal amount,
will be issued to the designated transferee or transferees by the Security Registrar. 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 recover any tax or
other governmental charge payable in connection therewith. 
  
 Prior to due presentation of this Note for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Note is registered, as the owner thereof for all purposes,
whether or not such Note be overdue, 

  

 A-8 

 
and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 
  
 No recourse for the payment of the principal (and premium, if any) or
interest on this Note and no recourse under or upon any obligation, covenant or agreement of the Company in the Indenture or any indenture supplemental thereto or in any Note, or because of the creation of any indebtedness represented thereby, shall
be had against any incorporator, stockholder, employee, agent, officer or director or subsidiary, as such, past, present or future, of the Company or of any successor corporation, either directly or through the Company or any successor corporation,
whether by virtue of any constitution, statute or rule of law or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of consideration for the issue hereof, expressly waived and
released. 
  
 [If Note is a Global Note, insert — This
Note is a Global Note and is subject to the provisions of the Indenture relating to Global Notes, including the limitations in Section 305 of the Base Indenture on transfers and exchanges of Global Notes.] 
  
 THE INDENTURE AND THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE LAWS OF THE STATE OF NEW YORK. 
  
 All capitalized terms
used in this Note which are defined in the Indenture shall have the meanings assigned to them in the Indenture. 
  

 A-9 

 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

			
	 TEN ENT
	  	-	  	 as tenants by the entireties (Cust)

			
	 JT TEN
	  	-	  	 as joint tenants with right of survivorship and not as tenants in common

			
	 UNIF GIFT MIN ACT
	  	-	  	                      Custodian
                        

	 	  	 	  	                                        
         (Minor)

	 	  	 	  	 under Uniform Gifts to Minors Act
                        

	 	  	 	  	                                        
                             (State)

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

 A-10 

 ASSIGNMENT 
  
 FOR VALUE RECEIVED, the undersigned assigns and transfers this Note to: 
  
 ————————————————————————————————————————

  
 ————————————————————————————————————————

  
 ————————————————————————————————————————

  
 (Insert assignee’s social security or tax
identification number) 
  
 ————————————————————————————————————————

  
 ————————————————————————————————————————

  
 ————————————————————————————————————————

  
 (Insert address and zip code of assignee) 
  
 agent to transfer this Note on the Security Register. The agent may substitute another to act
for him or her. 
  
 Dated: 
  

			
	 
		
	 Signed:
	 	 
	 	 	

	
	 Signature Guarantee:

  
 (Sign exactly
as your name appears on the other side of this Note) 
  
 Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Registrar, which requirements include membership or participation in the Security Transfer Agent Medallion Program
(“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 
  

 A-11 

 [TO BE ATTACHED TO GLOBAL NOTES AND PLEDGED NOTES] 
  
 SCHEDULE OF INCREASES OR DECREASES IN [GLOBAL] [PLEDGED] NOTE 
  
 The following increases or decreases in this [Global] [Pledged] Note have
been made: 
  

									
	 Date

	 	 Amount of
 Decrease in
 Stated Amount
 of the [Global]
 [Pledged] Note

	 	 Amount of
 Increase in
 Stated Amount
 of the [Global]
 [Pledged] Note

	  	 Stated Amount
 of the [Global]
 [Pledged] Note
 Following Such
 Decrease or
 Increase

	  	 Signature of
 Authorized
 Officer of
 [Trustee]
 [Collateral
 Agent]

  

 A-12 

 EXHIBIT B 
  
 FORM OF CERTIFICATION FOR TRANSFER 
 OR EXCHANGE
OF CERTIFICATED NOTE 
 (Transfers and exchanges pursuant to Section 2.7/2.9 of the Fifth Supplemental Indenture) 
  
 UnumProvident Corporation 
 1 Fountain Square 
 Chattanooga, Tennessee 37402 
  
 JPMorgan Chase Bank,     as Trustee 
 4 New York Plaza 
 15th Floor 
 New York, New York 10004 
  

	 	Re:	UnumProvident Corporation 5.085% Senior Notes due 2009 CUSIP No. [            ] 

  
 Reference is hereby made to the Indenture, dated as of March 9, 2001, as
supplemented by the Fifth Supplemental Indenture, dated as of May 11, 2004 (together, the “Indenture”), between UnumProvident Corporation and JPMorgan Chase Bank, as Trustee. Capitalized terms used but not defined herein shall have the
meanings given to them in the Indenture. 
  
 This letter relates
to U.S.$             principal amount of Certificated Notes held in certificated form [(CUSIP No.
[            ])] by [insert name of transferor] (the “Transferor”). The Transferor has requested an exchange or transfer of such Notes. 
  
 In connection with such request and in respect of such Notes, the Transferor
does hereby certify that (i) such Notes are owned by the Transferor and are being exchanged without transfer or (ii) such transfer has been effected pursuant to and in accordance with (a) a registration statement filed with, and declared effective
by, the Securities and Exchange Commission (the “Registration Statement”), (b) an applicable exemption from the registration requirements under Securities Act of 1933, as amended (the “Act”), or (c) Rule 144 under the Act, and
accordingly the Transferor does hereby further certify that 
  
 [Select one as appropriate — [the offer and sale of such Notes was made pursuant to the Registration Statement;] 
  
 [the offer and sale of such Notes was made pursuant to an applicable exemption from the registration requirements under the Act;]

  
 [the Notes have been transferred in a transaction
pursuant to Rule 144;] and 
  
 the transaction is not part
of a plan or scheme to evade the registration requirements of the Act. 
  

 B-1 

 We understand that this certificate is required in connection with certain securities laws of the United
States. In connection therewith, if administrative or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant, we irrevocably authorize you to produce this certificate to any interested party
in such proceeding. This certificate and the statements contained herein are made for your benefit and the benefit of the Company and the Trustee. 
  

			
	 
		
	 Dated:
	 	 
	 	 	

	 [Insert Name of Transferor]

  

			
	 
		
	 By:
	 	 
	 	 	

	 	 	 Name:

	 	 	 Title:

  

			
	 
	
	 
	

	 	 	 

  

 B-2

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