Document:

<PAGE>

                                                                    EXHIBIT 10.1

                                  * CERTAIN CONFIDENTIAL INFORMATION CONTAINED
                                    IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
                                    BEEN OMITTED AND FILED WITH THE SECURITIES
                                    AND EXCHANGE COMMISSION PURSUANT TO RULE
                                    24b-2 OF THE SECURITIES EXCHANGE ACT OF
                                    1934, AS AMENDED.

                                                 July 20, 2004

SmithKline Beecham plc
New Horizons Court
TW8 9EP
United Kingdom
Attn : Jean Stephenne

RE:    LETTER AMENDMENT TO MPL AGREEMENTS

Dear Jean:

      This letter amendment (this "Amendment") memorializes our understanding
and agreement to amend the MPL Agreements regarding the scale-up of the
production of 3-O-deacylated monophosphoryl lipid A from Salmonella minnesota
R595 ("MPL") and the manufacture and supply of MPL by Corixa Corporation
("Corixa") to SmithKline Beecham plc ("GSK").

   1. INTRODUCTION

      By merger with Ribi ImmunoChem, Inc. ("Ribi"), Corixa is party to the
following agreements with GSK or one of its affiliates:

      (a)   License and Supply Agreement, dated May 3, 1991, between Ribi and
            SmithKline Beecham Biologicals, S.A. ("SBBio") (the "1991
            Agreement");

      (b)   License/Supply Agreement, entered into December 10, 1992, between
            Ribi and GSK (the "1992 Agreement");

      (c)   License/Supply Agreement, dated December 1, 1995, between Ribi and
            SBBio (the "1995 Agreement");

      (d)   License and Supply Agreement, dated December 31, 1996, between Ribi
            and SmithKline Beecham Biologicals Manufacturing s.a., as amended by
            Letter Agreement dated December 12, 2001 (the "1996 Agreement"); and

      (e)   License/Supply Agreement, entered into October 5, 1999, between Ribi
            and GSK (the "1999 Agreement").

      The foregoing five (5) agreements are referred to herein collectively as
      the "MPL License and Supply Agreements".

      In addition, Corixa is party to the following agreements with affiliates
      of GSK:

                                                                               1
<PAGE>

      (f)   Letter Agreement, dated December 5, 2000, between Corixa and SBBio
            (the "2000 Agreement"); and

      (g)   MPL Fermentation/Purification Collaboration Agreement, dated
            December 2, 2002, between Corixa and GlaxoSmithKline Biologicals,
            S.A. (the "2002 Agreement").

      The foregoing two (2) agreements together with the MPL License and Supply
      Agreements are referred to herein collectively as the "MPL Agreements".

   2. DEFINITIONS

      (a)   "1991 Agreement", "1992 Agreement", "1995 Agreement", "1996
            Agreement", "1999 Agreement", "2000 Agreement" and "2002 Agreement"
            shall have the respective meanings ascribed to them in Section 1 of
            this Amendment.

      (b)   "CSC" shall have the meaning ascribed to it in Section 3 (b) (i) of
            this Amendment.

      (c)   "Evaluation" shall have the meaning ascribed to it in Section 3 (a)
            (i) of this Amendment.

      (d)   "Exercise Fee" shall have the meaning ascribed to it in Section 3
            (d) (ii) of this Amendment.

      (e)   "Facility Modifications" shall have the meaning ascribed to it in
            Section 3 (a) (iii) of this Amendment.

      (f)   "FDA" shall have the meaning ascribed to it in Section 3 (a) (i) of
            this Amendment.

      (g)   "Force Majeure" shall have the meaning ascribed to it in the 1996
            Agreement.

      (h)   "Hamilton Facility" shall have the meaning ascribed to it in Section
            3 (a) of this Amendment.

      (i)   "Know-How" shall have the meaning ascribed to it in the MPL License
            and Supply Agreements.

      (j)   "Manufacturing Know-How" shall mean all present and future technical
            information and know-how owned and/or controlled by Corixa with the
            right to grant licenses during the term of this Amendment or the
            co-exclusive license referred to in Section 3 (d) below, which is
            useful or necessary to produce (a) MPL, (b) intermediates used in a
            process required or useful for manufacturing MPL, (c) improvements
            of MPL or (d) intermediates used in a process required or useful for
            manufacturing improvements of MPL, and which technical information
            and know-how shall include, without limitation, any and all process,
            manufacturing, control, assay, QC, and any other information
            relating to MPL and/or manufacture of MPL and all documentation and
            technical assistance needed or useful for the production of Product.

      (k)   "Manufacturing Patents" shall mean all patents and patent
            applications owned

                                                                               2
<PAGE>

            and/or controlled by Corixa with the right to grant licenses during
            the term of this Amendment or the co-exclusive license referred to
            in Section 3 (d) below, which patents and patent applications claim
            a process required or useful for manufacturing (a) MPL, (b)
            intermediates used in a process required or useful for manufacturing
            MPL, (c) improvements of MPL or (d) intermediates used in a process
            required or useful for manufacturing improvements of MPL. Included
            within the definition of Manufacturing Patents are any
            continuations, continuations-in-part, divisions, patents of
            addition, reissues, renewals or extensions of the patents and patent
            applications described in the foregoing sentence. The current list
            of Manufacturing Patents is set forth in Exhibit I attached hereto.

      (l)   "MPL" shall have the meaning ascribed to it in the first paragraph
            of this Amendment.

      (m)   "MPL Agreements" shall have the meaning ascribed to it in Section 1
            of this Amendment.

      (n)   "MPL License and Supply Agreements" shall have the meaning ascribed
            to it in Section 1 of this Amendment.

      (o)   "Net Sales" shall have the meaning ascribed to Net Invoice Price or
            Net Sales in the MPL License and Supply Agreement applicable to the
            sold Product.

      (p)   "Option" shall have the meaning ascribed to it in Section 3 (d) (i)
            of this Amendment.

      (q)   "Option Period" shall have the meaning ascribed to it in Section 3
            (d) (ii) of this Amendment.

      (r)   "Patents" shall have the meaning given thereto in the MPL License
            and Supply Agreements. The current list of Patents is attached
            hereto as Exhibit II.

      (s)   "Product" shall have the meaning ascribed to it in the MPL License
            and Supply Agreements.

      (t)   "Report" shall have the meaning ascribed to it in Section 3 (a) (ii)
            of this Amendment.

      (u)   "Transfer Request Period" shall have the meaning ascribed to it in
            Section 3 (e) (ii) of this Amendment.

      (v)   "Work Plan" shall have the meaning ascribed to it in Section 3 (b)
            (i) of this Amendment.

   3. TERMS OF AMENDMENT

      (a)   Evaluation of Corixa's Hamilton, MT MPL Manufacturing Facility (the
            "Hamilton Facility").

                                                                               3
<PAGE>

            (i)   The parties hereby agree that Corixa shall engage [*] of [*]
                  as a consultant for the evaluation of the Hamilton Facility
                  for licensability to produce MPL bulk drug substance,
                  according to current United States Food and Drug
                  Administration ("FDA") regulations and guidelines (the
                  "Evaluation").

            (ii)  The [*] all costs related to the Evaluation, up to a maximum
                  of USD[*], with [*] responsible for a maximum of [*]. Any
                  costs related to the Evaluation above USD[*] shall be [*].
                  Both parties shall have access to [*] written report resulting
                  from the Evaluation ("Report").

            (iii) In the event the Evaluation determines that the Hamilton
                  Facility is licensable for the production of MPL bulk drug
                  substance, according to current FDA regulations and
                  guidelines, or upon Corixa warranting in writing to GSK that
                  [*] it will promptly implement the modifications defined in
                  writing during the Evaluation and recorded in the Report as
                  necessary for the Hamilton Facility to be so licensable ("the
                  Facility Modifications"), and further warranting to make any
                  further necessary modifications that may from time to time be
                  required in order to maintain the Hamilton Facility in
                  compliance at all times with FDA and European Union regulatory
                  authorities regulations and guidelines, then the parties shall
                  proceed in accordance with the terms and conditions set forth
                  in Sections 3 (b) through 3 (f) below.

      (b)   Scale-Up of MPL Production

            (i)   Promptly after issuance of the Report and in parallel with
                  making the Facility Modifications, if any, Corixa shall
                  initiate the efforts described in Stage I and Stage II of the
                  work plan attached hereto as Exhibit IIIA, which is
                  incorporated herein by this reference (the "Work Plan"), as
                  may be amended from time to time by written agreement of the
                  parties. The parties shall establish a Collaboration Steering
                  Committee (the "CSC") in accordance with Exhibit IIIB, which
                  Exhibit is incorporated herein by this reference, to oversee
                  the performance of the Work Plan. Corixa shall keep GSK
                  apprised in writing of the progress accomplished in
                  implementing the Facility Modifications and in performing the
                  Work Plan through quarterly written progress reports to GSK.
                  FTE Costs associated with progress report generation are
                  included in the Work Plan.

            (ii)  GSK shall fund fifty percent (50%) of all of Corixa's FTEs
                  costs involved in performing the Work Plan for Stage I and
                  Stage II, which funding shall be payable quarterly in advance
                  based upon Corixa's invoice therefore and receipt of Corixa
                  written report for activities performed during the preceding
                  quarter. Corixa shall be obligated to dedicate all of such
                  funding received from GSK to the performance of the Work Plan.
                  If such report(s) show that Corixa is not executing the Work
                  Plan, GSK shall have the right to withhold such funding,
                  provided, however, that GSK's license under Section 3 (d) (i)
                  shall not include any Manufacturing Patents or

                                              *CONFIDENTIAL TREATMENT REQUESTED.

                                                                               4

<PAGE>

                  Manufacturing Know-How developed during any period that GSK
                  does not fund fifty percent (50%) of all of Corixa's FTEs
                  costs for such period. The FTE rate applicable to the Work
                  Plan shall be Corixa's 2004 FTE rate of USD$[*], increased
                  annually by COLA. Neither Corixa nor GSK shall have an
                  obligation to contribute to FTE costs exceeding those outlined
                  specifically in Exhibit IIIA. Corixa shall be [*] incurred as
                  part of the Work Plan. Any modification to the Work Plan must
                  be agreed to in writing between the two parties. Any savings
                  or additional expense to be incurred as a result of Work Plan
                  modification shall be shared equally between the two parties.

            (iii) The Work Plan shall supersede the work plan attached as
                  Exhibit A to the 2002 Agreement and the parties agree and
                  acknowledge that no further efforts shall be required of
                  either party pursuant to such Exhibit A.

            (iv)  Any process improvement and/or MPL improvement made, conceived
                  and reduced to practice as part of the Work Plan solely by
                  Corixa or GSK or made, conceived and reduced to practice
                  jointly by Corixa and GSK will be co-owned by Corixa and GSK,
                  who will each have co-exclusive (as used herein,
                  "co-exclusive" shall have the meaning provided in Section 3
                  (d) (i) hereof) rights to use such improvement(s) for any
                  purpose unless otherwise expressly provided in this Amendment.
                  No consideration other than that specified in this Amendment
                  shall be due by either party to the other for use of such
                  improvement(s). Any patent application claiming such
                  improvement(s) will be filed in the joint names of Corixa and
                  GSK. For the avoidance of doubt, any modification of MPL
                  fermentation, extraction, purification, characterization or
                  analytical processes that is made, conceived or reduced to
                  practice as a result of experimentation carried out under the
                  Work Plan or outside of the Work Plan but jointly by or on
                  behalf of Corixa or its employees and by or on behalf of GSK
                  or its employees, including by or on behalf of GSK or its
                  employees with input from Corixa or its employees, whether at
                  laboratory bench-scale or pilot plant scale manufacturing but,
                  if made, conceived or reduced to practice by or on behalf of
                  GSK other than jointly with Corixa, in no event later than the
                  date the CSC determines the Work Plan to be completed or
                  terminated, shall be deemed to have been made, conceived and
                  reduced to practice, as applicable, as part of the Work Plan
                  and shall be co-owned and co-exclusively licensed by Corixa
                  and GSK as described above.

                  Subject to Section 3 (d) (ii) following successful completion
                  of the Work Plan such that Corixa is able to produce at least
                  1.8kg of MPL per year and that the terms of Section 3 (c) (v)
                  hereof apply, any process improvement and/or MPL improvement
                  made, conceived and reduced to practice solely by GSK or
                  Corixa thereafter shall be solely owned by the party that
                  made, conceived and reduced to practice such improvement
                  subject to the following:

                                              *CONFIDENTIAL TREATMENT REQUESTED.

                                                                               5

<PAGE>

                  (x) Any such improvements made, conceived and reduced to
                  practice solely by Corixa before expiration of GSK royalty
                  obligation pursuant to Section 3 (d) (iii) (a) shall be part
                  of MPL Know-How or MPL Patents.

                  (y) Any such improvements made, conceived and reduced to
                  practice solely by Corixa after expiration of GSK royalty
                  obligation pursuant to Section 3 (d) (iii) (a) shall not be
                  part of MPL Know-How or MPL Patents provided, however that if
                  GSK so requests in writing, Corixa and GSK shall negotiate in
                  good faith commercially reasonable terms for a license from
                  Corixa for GSK to use such improvement(s) in the manufacture
                  by GSK of MPL for use as a prophylactic and/or therapeutic
                  vaccine adjuvant.

                  (z) Without prejudice to Section 3 (d) (ii) below, GSK shall
                  have exclusive rights to such improvements which are solely
                  owned by it and no obligation to provide a license to such
                  improvements to Corixa.

            (v) In addition to the performance of the Work Plan and only after
            GSK has paid the Exercise Fee pursuant to Section 3 (d) (ii), GSK
            shall have the right to perform MPL process development work on its
            own and/or to sub-contract to third parties MPL process development
            work and shall be the sole owner of any developments resulting from
            such work; provided that any such subcontractor(s) shall be subject
            to nondisclosure and nonuse restrictions, at least as stringent as
            those applicable to GSK as set forth in the MPL License and Supply
            Agreements, in respect of all Manufacturing Know-How and any other
            know-how related to the manufacture of MPL.

            (vi) Corixa and GSK agree that the Patent Committee set-up under the
            Multi-Field Vaccine Discovery Collaboration and License Agreement,
            effective September 1, 1998, between Corixa and GSK, as amended,
            will oversee the prosecution of any patents resulting from the Work
            Plan and the 2002 Agreement. For purposes of clarification, if GSK
            exercises its Option it will have co-exclusive rights to manufacture
            MPL under any patent claiming any Inventions under the 2002
            Agreement.

      (c)   Long-Term MPL Supply

            (i)  GSK shall order from Corixa guaranteed minimum annual orders
                 of MPL to be delivered in quarterly amounts by Corixa in
                 accordance with the following schedule:

                 2004 = [*]
                 2005 = [*] ([*] each quarter)
                 2006 = [*] ([*] each quarter)
                 2007 = [*] ([*] each quarter)
                 2008 = through 2012 = 1.8 kgs per year (450 grams each quarter)

                                              *CONFIDENTIAL TREATMENT REQUESTED.

                                                                               6
<PAGE>

                  and under the terms of the Quality Agreement attached hereto
                  as Exhibit IV, which is incorporated herein by this reference,

                  provided, however, that:

                  (x) if, in any calendar quarter, Corixa supplies GSK with at
                  least [*] percent ([*]%) of the quantity to be delivered
                  during that quarter according to the schedule above and Corixa
                  supplies GSK with the full annual guaranteed minimum order of
                  MPL to be delivered according to the schedule above during
                  that calendar year, GSK shall not invoke Corixa's failure to
                  supply under Section 3 (c) (iii) below.

                  (y) if the Facilities Modifications, if any, are not complete
                  by [*] for any reason other than Force Majeure, GSK shall be
                  entitled to apply a [*] percent ([*]%) reduction to the price
                  set forth in Section 3 (c) (iv) for MPL produced and accepted
                  by GSK during the time period beginning [*] and ending upon
                  completion of the Facilities Modifications, and to the
                  applicable royalty due, if any, under the MPL Supply and
                  License Agreements until [*] or the applicable royalty set
                  forth in Section 3 (d) (iii) (b) after [*], for the next
                  Product that will be sold by GSK during the time period
                  equivalent to the number of months beginning [*] and ending
                  upon completion of the Facilities Modifications; or

                  (z) if delivery to GSK of consistency lots of MPL which is
                  FDA-compliant after implementation of Stage I of the Work Plan
                  is not complete by [*] for any reason other than Force
                  Majeure, GSK shall be entitled to apply a [*] percent ([*]%)
                  reduction to the price set forth in Section 3 (c) (iv) for MPL
                  produced and accepted by GSK during the time period beginning
                  [*] and ending upon delivery to GSK of consistency lots of MPL
                  which is FDA-compliant, and to the applicable royalty due, if
                  any, under the MPL Supply and License Agreements until [*] or
                  the applicable royalty set forth in Section 3 (d) (iii) (b)
                  after [*], for the next Product that will be sold by GSK
                  during the time period equivalent to the number of months
                  beginning [*] and ending upon delivery to GSK of consistency
                  lots of MPL which is FDA-compliant.

                  Furthermore Corixa agrees to use commercially reasonable
                  efforts to complete the Facility Modifications and to deliver
                  the consistency lots by no later than [*] but in the event
                  that the Facilities Modifications are not completed by [*] for
                  any reason other than Force Majeure, or if the delivery of
                  consistency lots does not take place before [*] for any reason
                  other than Force Majeure, GSK may at its option upon written
                  notice to Corixa [*] and, if GSK has not yet exercised the
                  Option, [*] from Corixa for [*] as opposed to the [*] payment
                  called for in Section [*] or, if GSK has previously exercised
                  the Option, Corixa shall, at GSK's option, [*] or provide [*]
                  and any royalty due Corixa thereafter hereunder [*].

                                              *CONFIDENTIAL TREATMENT REQUESTED.

                                                                               7
<PAGE>

                  The MPL supplied by Corixa shall meet the specifications set
                  forth in the Quality Agreement attached hereto as Exhibit IV
                  and all requirements of the FDA and European Union regulatory
                  authorities and shall be suitable for use in Products to be
                  sold in the United States and the European Union.

            (ii)  If GSK orders the minimum quantities above, GSK will be deemed
                  to have satisfied all its combined minimum transfer price and
                  royalty obligations under all MPL License and Supply
                  Agreements. Starting in 2006, upon request of GSK, Corixa
                  agrees that in the event it has the manufacturing capacity, it
                  shall make all reasonable commercial efforts to supply GSK
                  with quantities in excess of the quantities specified in
                  Section 3 (c) (i) above, up to a capacity of minimum 1.8 kg
                  per year in 2006 and 2007 and up to a capacity which exceeds
                  1.8 kg in 2008 and each year thereafter during the term of
                  this Amendment. GSK agrees to inform Corixa of any such
                  additional request at least twelve (12) months in advance.

            (iii) Corixa will use commercially reasonable efforts to supply GSK
                  with MPL ordered by GSK. Upon Corixa becoming aware of its
                  inability to supply MPL to GSK in accordance with the supply
                  schedule set forth in Section 3 (c) (i), Corixa shall promptly
                  notify GSK in writing of such inability and the date by which
                  Corixa reasonably anticipates being able to supply in
                  accordance with such schedule. Except as set forth in Section
                  3 (c) (vi) or if the failure to supply is due to Force
                  Majeure, if Corixa is unable to supply in accordance with such
                  schedule for more than [*] days but less than [*] days, then
                  [*]. If in a given year, Corixa was [*] the amount of the [*]
                  will be deemed to be [*] of [*]. If the contracted amount to
                  be purchased by GSK in that year was [*], the amount of MPL
                  associated with [*]. Assuming that there are [*] per dose of
                  Product (or that [*] of Product if there are different
                  Products with different amounts of MPL), [*]. However, if once
                  Corixa returns to production, Corixa is able to become current
                  with the supply schedule in terms of total material shipped to
                  GSK, then [*].

                  Except as set forth in Section 3 (c) (vi) or if the failure to
                  supply is due to Force Majeure, if Corixa is unable to supply
                  in accordance with such schedule for more than [*] but less
                  than [*], then [*]. If in a given year, Corixa was [*], the
                  amount of the [*] deemed to be [*]. If the contracted amount
                  to be purchased by GSK in that year was [*], the amount of MPL
                  associated with [*]. Assuming that there are [*] of Product
                  (or that [*] of Product if there are different Products with
                  different amounts of MPL), [*]. However, if once Corixa
                  returns to production, Corixa is able to become current with
                  the supply schedule in terms of total material shipped to GSK,
                  [*].

                  Except as set forth in Section 3 (c) (vi) or if the failure to
                  supply is due to Force Majeure, if Corixa is unable to supply
                  in accordance with such

                                              *CONFIDENTIAL TREATMENT REQUESTED.

                                                                               8
<PAGE>

                  schedule for more than [*] days, GSK shall have the right to
                  terminate the supply provisions of this Amendment and the MPL
                  License and Supply Agreements for breach of Corixa and: (x)
                  there will be [*] on sales of that number of Products that [*]
                  as calculated in accordance with the following example. If in
                  a given [*] period, Corixa was unable to supply product for
                  [*] days, the amount of the [*] of that year plus the [*]. If
                  the contracted amount to be purchased by GSK in that year [*],
                  the amount of MPL associated with [*]. Assuming that there are
                  [*] of Product (or that [*] of Product if there are different
                  Products with different amounts of MPL), [*] of Product
                  (calculated as [*] x [*] grams). Such [*] shall apply [*].

            (iv)  The pricing for all MPL ordered by GSK following the date of
                  this Amendment shall be USD[*] per gram, with an annual
                  increase based on COLA as reported by the United States Social
                  Security Administration.

            (v)   Notwithstanding the foregoing, if the Work Plan has been
                  successfully completed and in any calendar year following such
                  completion GSK orders more than 1.8 kg of MPL from Corixa, the
                  price in such year for such excess MPL shall be [*] of the
                  price set forth in Section 3 (c) (iv).

            (vi)  In the event the Hamilton Facility is shut down during 2005
                  due to process development activities required by the Work
                  Plan[*] of MPL that [*], provided that Corixa shall [*] Corixa
                  will provide GSK with [*]

            (vii) GSK shall be committed to purchase the quantities of MPL set
                  forth in Section 3 (c) (i) above through 2008. From 2009, GSK
                  shall have the right to cancel its guaranteed minimum annual
                  orders of MPL upon prior written notice of [*] to Corixa (e.g;
                  by no later than [*] in case GSK wishes to cancel its
                  guaranteed minimum annual orders of MPL for [*]) and payment
                  of the following cancellation fee to Corixa on the day of said
                  notification: for [*] a cancellation fee of USD[*] [*]. In
                  addition, if GSK cancels its guaranteed minimum annual orders
                  of MPL according to this Section 3 (c) (vii), effective
                  immediately on the day of notification of such cancellation:
                  [*] and any further supply of MPL by Corixa at quantities
                  lower than those indicated in Section 3 (c) (i) above and/or
                  supply following the lapse of the [*] cancellation notice
                  period, will require a new supply agreement between GSK and
                  Corixa, (y) the royalty described in Section 3 (d) (iii) b.
                  shall be replaced by a flat royalty of [*]% ([*] percent) on
                  Net Sales of all Products for a Product-by-Product period of
                  [*] years post applicable Product introduction, (z) all MPL
                  license rights of GSK pursuant to the MPL License and Supply
                  Agreements [*] and GSK shall have [*] for any new vaccine
                  application and (xx) all MPL intellectual property, including
                  without limitation improvements and other know-how, developed
                  by or on behalf of GSK shall be promptly provided
                  free-of-charge to Corixa and Corixa shall have no obligation
                  to contribute any further MPL improvements to GSK.

            (d)   Co-Exclusive License to Manufacture MPL

                                              *CONFIDENTIAL TREATMENT REQUESTED.

                                                                               9
<PAGE>

            (i)   Subject to all terms and conditions of this Amendment, Corixa
                  hereby grants to GSK an option (the "Option") for a
                  co-exclusive, perpetual, non-sublicensable license under the
                  Manufacturing Patents and Manufacturing Know-How to
                  manufacture MPL (x) solely to meet any GSK annual requirements
                  after 2008 and through 2012 for MPL in excess of 1.8 kg and
                  after 2012 solely to meet GSK's requirements and (y) solely
                  for use in accordance with the applicable license grants set
                  forth below:

<TABLE>
<CAPTION>
     AGREEMENT                                  APPLICABLE PROVISION(S)
------------------                             -------------------------
<S>                                            <C>
The 1991 Agreement                             Sections 3.1 and 3.2
The 1992 Agreement                             Section 3.1
The 1995 Agreement                             Sections 3.1, 3.2 and 3.3
The 1996 Agreement                             Sections 3.1, 3.4 and 3.5
The 1999 Agreement                             Sections 3.1 and 3.2
</TABLE>

                  and for use in any other human vaccine application licensed to
                  GSK on a non-exclusive basis.

                  Co-exclusive license under this clause means that only Corixa
                  and GSK will be entitled to manufacture MPL for use as a
                  prophylactic and/or therapeutic vaccine adjuvant. No license
                  is hereby granted to GSK to manufacture MPL for any other
                  purpose. During the term of this co-exclusive license Corixa
                  shall promptly disclose to GSK and/or supply GSK with all
                  Manufacturing Know-How. Corixa shall retain exclusive rights
                  to manufacture MPL for any purpose other than use of MPL as a
                  prophylactic and/or therapeutic vaccine adjuvant. GSK and
                  Corixa shall each have the right to use subcontractors
                  (including Corixa, in the case of GSK) to make MPL for use as
                  a prophylactic and/or therapeutic vaccine adjuvant, provided
                  that such subcontractor(s) shall be subject to nondisclosure
                  and nonuse restrictions, at least as stringent as those
                  applicable to GSK and/or Corixa as set forth in the MPL
                  License and Supply Agreements, in respect of all Manufacturing
                  Know-How and any other know-how related to the manufacture of
                  MPL and provided that Corixa shall remain liable for all its
                  obligations hereunder. In the event GSK determines to engage a
                  subcontractor to manufacture MPL, GSK shall inform Corixa in
                  writing and Corixa shall have the right to make an offer for
                  the subcontract, provided that GSK shall have no obligation to
                  negotiate with Corixa. Nothing in this agreement shall be
                  interpreted as to prevent Corixa from transferring its MPL
                  manufacturing operations and business to a Corixa subsidiary
                  or any other Corixa affiliate provided that such affiliate or
                  subsidiary shall remain bound by all obligations, terms and
                  conditions applicable to Corixa under this Amendment. In the
                  event

                                                                              10
<PAGE>

                  Corixa determines to dispose of its MPL manufacturing
                  operations and business, whether directly if held by Corixa or
                  by disposing of all or a majority ownership in any Corixa
                  affiliate or subsidiary to which it has transferred its MPL
                  manufacturing operations and business, Corixa shall inform GSK
                  in writing and GSK shall have the right to make an offer for
                  the available operations and business, or interest in such
                  affiliate or subsidiary, as applicable, provided that Corixa
                  shall have no obligation to negotiate with GSK.

            (ii)  After GSK has exercised the Option, any process improvement
                  and/or MPL improvement made, conceived and reduced to practice
                  by GSK other than jointly with Corixa which is not as part of
                  the Work Plan will be solely owned by GSK. Subject to the
                  provisions of Section 3 (c) (i) above, the Option shall be
                  exercised by GSK paying to Corixa USD$[*] (the "Exercise Fee")
                  in immediately available funds at any time during the period
                  commencing on the date of this Amendment and terminating
                  thirty (30) days following written notification by Corixa to
                  GSK that the CSC has determined that Corixa has completed the
                  Facility Modifications (the "Option Period"). In the event GSK
                  does not exercise the Option, this Amendment shall immediately
                  terminate and neither party shall have any further obligations
                  hereunder, provided that GSK shall not be relieved of any then
                  outstanding payment obligations pursuant to Section 3 (a)
                  (ii), pursuant to 3 (b) (ii) solely for any work performed as
                  of the date of termination under the Work Plan, or pursuant to
                  Section 3 (c) (iv) for any MPL produced by Corixa and
                  delivered to GSK hereunder as of the date of termination.

            (iii) Royalty.

                        a.    In consideration for the grant of the license
                              hereunder and other good and valuable
                              consideration, GSK shall pay Corixa a royalty on
                              all Net Sales generated on or after June 30, 2008,
                              which royalty obligation shall expire for all
                              Products, ten (10) years after the first
                              commercial sale in the United States or Europe of
                              GSK's Product for the prevention and/or control
                              and/or treatment of human papilloma virus in
                              humans or fifteen years (15) after the first
                              commercial sale in the United States or Europe of
                              GSK's Product for the prevention and/or control
                              and/or treatment of herpes simplex virus in humans
                              if GSK does not launch a Product for the
                              prevention and/or control and/or treatment of
                              human papilloma virus in humans, provided,
                              however, that if the first commercial sale of such
                              Product occurs after June 30, 2008, GSK shall
                              continue to pay royalties in accordance with the
                              applicable MPL License and Supply Agreement on all
                              Net Sales of other Products until such first
                              commercial sale, after which only the royalty due
                              under this Amendment shall be payable on Net
                              Sales.

                                              *CONFIDENTIAL TREATMENT REQUESTED.

                                                                              11
<PAGE>

                        b.    Royalties shall be payable on a Product-by-Product
                              basis according to the following schedule:

<TABLE>
<CAPTION>
Aggregate Annual Net Sales of the
       applicable Product                                Royalty
---------------------------------                        -------
<S>                                                      <C>
         < or = USD$[*]                                    [*]%
  > USD$[*] and < or = USD$[*]                             [*]%
            >USD$[*]                                       [*]%
</TABLE>

                  As an example, if a particular Product has aggregate Annual
                  Net Sales of USD$1billion, the first USD$[*] of such Net Sales
                  shall bear a [*]% royalty, the next USD[*] of such Net Sales
                  shall bear a [*]% royalty and the remaining USD$[*]n of such
                  Net Sales shall bear a [*]% royalty. If in the same year
                  another Product has aggregate annual Net Sales of USD[*], all
                  of such Net Sales shall bear [*]% royalty.

                  The royalty rates under this Amendment shall not be subject to
                  reduction or offset for any reason.

                  During any period of time during which GSK will be paying a
                  royalty to Corixa under the applicable MPL License and Supply
                  Agreement(s) or, after June 30, 2008, under this Amendment.
                  Corixa shall not grant any rights to MPL, nor supply MPL, to
                  any third party for use as a prophylactic and/or therapeutic
                  vaccine adjuvant in products exclusively licensed to GSK under
                  the MPL Supply and License Agreements.

      (e)   Technology Transfer

            (i)   In the event GSK has exercised the Option in accordance with
                  Section 3 (d) (ii) of this Amendment, then, subject to the
                  terms and conditions of this Section 3 (e), Corixa shall
                  transfer to GSK on a co-exclusive basis all Manufacturing
                  Know-How for GSK's use solely in connection with the practice
                  of the license set forth in Section 3 (d) (i).

            (ii)  GSK shall have the right to request the foregoing transfer of
                  Manufacturing Know-How by providing written notice to Corixa
                  therefor during the period that commences upon exercise of the
                  Option and terminates on the later of December 31, 2007 and
                  the date the CSC determines that the Work Plan is fully
                  completed (the "Transfer Request Period"). GSK shall have no
                  right to a transfer of the Manufacturing Know-How if GSK has
                  not provided Corixa a written request therefore during the
                  Transfer Request Period.

                                              *CONFIDENTIAL TREATMENT REQUESTED.

                                                                              12
<PAGE>

            (iii) In the event GSK requests such transfer in writing in
                  accordance with Section 3 (e) (ii), the parties shall
                  negotiate in good faith a Manufacturing Know-How transfer work
                  plan, which work plan shall include the FTE rate for Corixa's
                  FTEs who will perform such work plan and which work plan will
                  be appended to this Amendment as Exhibit V and thereupon shall
                  be incorporated into this Amendment.

            (iv)  Following agreement to the Manufacturing Know-How transfer
                  work plan, Corixa shall transfer to GSK all then existing
                  Manufacturing Know-How in accordance with such work plan. GSK
                  shall fund Corixa's efforts in performing such work plan as
                  set forth therein, which funding shall be payable quarterly in
                  advance based upon Corixa's invoice therefore.

      (f)   Term; Termination for Breach; No Termination for Convenience

            (i)   GSK and Corixa hereby agree that after June 2008 the licenses
                  granted to GSK under all MPL License and Supply Agreements
                  will be fully-paid-up for any and all human vaccine
                  applications meaning that (x) subject to Section 3 (c) (vii),
                  GSK shall have perpetual exclusive, co-exclusive or
                  non-exclusive licenses according to the level of exclusivity
                  under the current License and Supply Agreements and
                  non-exclusive license rights to use MPL in any other human
                  vaccine application, (y) Corixa shall be entitled to supply
                  MPL to a single third party for use in Products for which GSK
                  will have co-exclusive licenses in perpetuity, shall be
                  entitled to supply MPL to third parties on a non-exclusive
                  basis for use in Products for which GSK will have
                  non-exclusive licenses in perpetuity and shall not be entitled
                  to supply MPL to any third party for use in Products for which
                  GSK will have exclusive rights in perpetuity, and (z) GSK
                  shall have no financial obligation whatsoever to Corixa other
                  than as specifically provided under this Amendment and that
                  GSK shall be free to use MPL as an adjuvant in any and all
                  human vaccine applications, provided, however, that if the
                  first commercial sale of GSK's Product for the prevention
                  and/or control and/or treatment of human papilloma virus in
                  humans occurs after June 30, 2008, or in the case GSK does not
                  launch a Product for the prevention and/or control and/or
                  treatment of human papilloma virus in humans if the the first
                  commercial sale of GSK's Product for the prevention and/or
                  control and/or treatment of herpes simplex virus in humans
                  occurs after June 30, 2008, GSK shall continue to pay
                  royalties in accordance with the applicable MPL License and
                  Supply Agreement on all Net Sales of other Products until such
                  first commercial sale. GSK and Corixa further acknowledge and
                  agree that the terms of this Amendment, including but not
                  limited to the obligation of GSK to pay a royalty in
                  accordance with Section 3 (d) (iii) above, incorporate the
                  negotiated terms of continued supply of MPL by Corixa to GSK
                  after June 2008. GSK and Corixa further acknowledge and agree
                  that after the expiration of the royalty obligation under
                  Section 3 (d) (iii) above, GSK's license under Section 3 (d)
                  (i) above shall be fully paid-up for any and all human vaccine
                  applications.

                                                                              13
<PAGE>

                  Unless extended as provided for herein, this Amendment shall
                  terminate on December 31, 2012. GSK shall have the right to
                  extend the term of this Amendment for successive period(s) of
                  three (3) years by providing Corixa (a) thirty-six months
                  written notice(s) of extension. GSK's guaranteed annual
                  minimum order of MPL during each year of such extension, if
                  applicable, shall be 1.8 kg unless otherwise mutually agreed
                  to by the parties.

            (ii)  Each party shall have the right to terminate this Amendment
                  based on the other party's material breach, which termination
                  shall be effective ninety (90) days following written notice
                  of such breach to the breaching party, provided that this
                  Amendment shall not terminate if the breaching party cures
                  such breach within such ninety (90) day period.

            (iii) Except as set forth in Section 3 (c) (vi) or if the failure to
                  supply is due to Force Majeure, in case Corixa is unable to
                  supply GSK minimum annual orders as specified in Section 3 (c)
                  (i) for more than [*], GSK shall have the right upon written
                  notice to Corixa to terminate the supply provisions of this
                  Amendment and the MPL License and Supply Agreements and there
                  will be [*] on sales of that number of Products that [*], as
                  calculated in accordance with the example set forth in
                  subsection (x) of the third paragraph of Section 3 (c) (iii),
                  and for subsequent sales, GSK's obligation to pay royalties to
                  Corixa shall continue in accordance with Section 3 (d) (iii)
                  (b), provided, however, that such royalties on all subsequent
                  sales of Product by GSK shall be reduced to [*] of the rates
                  set forth in Section 3 (d) (iii) (b). If GSK has not exercised
                  its Option at the time GSK terminates the supply provisions
                  under this Amendment and the MPL License and Supply Agreement,
                  there will be [*] on sales of any Product after such
                  termination.

            (iv)  Except if the failure to meet the applicable due date is due
                  to Force Majeure, if Corixa does not complete the Facilities
                  Modifications or does not deliver to GSK consistency lots of
                  FDA-compliant MPL by [*] as further described in Section 3 (c)
                  (i), then the terms and conditions of Section 3 (c) (i)
                  related to exercise of the Option and the Exercise Fee shall
                  apply and if GSK has exercised the Option, GSK shall have the
                  right upon written notice to Corixa to terminate the supply
                  provisions of this Amendment and the MPL License and Supply
                  Agreements and the royalties on all subsequent sales of
                  Product by GSK shall be reduced by [*] of the rates set forth
                  in Section 3 (d) (iii) (b).

            (v)   In the event of either of the foregoing terminations of the
                  supply provisions of this Amendment and the MPL License and
                  Supply Agreements described in Sections 3 (f) (iii) and (iv),
                  Corixa shall immediately [*] and [*] under this Amendment or
                  any of the MPL License and Supply Agreements other than [*] to
                  effect the Manufacturing Know-How transfer under Section 3 (e)
                  (iv) above.

                                              *CONFIDENTIAL TREATMENT REQUESTED.

                                                                              14
<PAGE>

                  (vi) No Termination for Convenience. The following provisions
                  of the MPL License and Supply Agreements are hereby deleted in
                  their entirety:

<TABLE>
<CAPTION>
     AGREEMENT                              APPLICABLE PROVISION(S)
     ---------                              -----------------------
<S>                                         <C>
The 1991 Agreement                                Section 7.3
The 1992 Agreement                                Section 7.3
The 1995 Agreement                               Section 14.6
The 1996 Agreement                                Section 7.3
The 1999 Agreement                               Section 14.6
</TABLE>

      (g)   Fulfillment and Termination of 2000 Agreement; Repayment of Credit
            Line

            (i)   Fulfillment and Termination of 2000 Agreement. Corixa shall
                  deliver to GSK three (3) lots of MPL, with each lot being [*]
                  to [*] of MPL prepared using bacterial [*] master seed [*].
                  GSK shall pay to Corixa USD$[*] per gram for each such lot.
                  Corixa shall have no further obligation to supply to GSK and
                  GSK shall have no further obligation to purchase from Corixa,
                  any MPL pursuant to the 2000 Agreement and the 2000 Agreement
                  is hereby terminated and of no further force or effect,
                  provided, however, that Paragraph 2 thereof shall survive this
                  termination and provided further that GSK shall have no
                  further obligation under Section 4.7 of the 1991 Agreement.

            (ii)  Repayment of Credit Line. When Corixa has implemented all
                  Facility Modifications and has warranted in writing to GSK
                  that it will make all other necessary investments to upgrade
                  the Hamilton Facility as necessary to produce GSK's
                  requirements of MPL in accordance with regulations and
                  guidelines of regulatory authorities in the United States and
                  the European Union, Corixa shall be entitled to repay the
                  credit line described in Section 6 (b) (C) of the Multi-Field
                  Vaccine Discovery Collaboration and License Agreement,
                  effective September 1, 1998, between Corixa and GSK, as
                  follows. Corixa shall issue to GSK that number of shares equal
                  to USD$5,000,000.00 divided by the average per share closing
                  price of Corixa Common Stock on the Nasdaq National Market as
                  reported in the Wall Street Journal for the thirty (30) day
                  trading period immediately preceding but not including the
                  date of this Amendment, and such issuance shall be payment in
                  full for such credit line. Following receipt of the Report
                  described in Section 3 (a) (ii), the parties shall negotiate
                  in good faith and agree upon a reasonable date by which the
                  Facilities Modifications, if any, should be implemented. In
                  the event the Facilities

                                              *CONFIDENTIAL TREATMENT REQUESTED.

                                                                              15
<PAGE>

                  Modifications have not been completed by one hundred and
                  twenty (120) days following such agreed date, the credit line
                  shall not be repayable using Corixa common stock and the
                  USD$5,000,000.00 shall be due and payable in full fifteen (15)
                  days thereafter.

      (h)   Miscellaneous Terms

            (i)   Notices. All notices required or permitted to be given under
                  this Amendment or any of the MPL License and Supply Agreements
                  shall be addressed when to Corixa:

                  Corixa Corporation
                  1124 Columbia Street, Suite 200
                  Seattle, WA 98104
                  Attn: Chairman and Chief Executive Office

                  With a copy to: General Counsel

                  (ii)  Full Force and Effect. Except with respect to supply,
                        royalties and financial obligations and except as
                        amended or terminated hereby, the licenses under the MPL
                        License and Supply Agreements shall remain in full force
                        and effect in accordance with their respective terms and
                        conditions, which terms and conditions are hereby
                        incorporated by this reference. In the event of any
                        conflicts or inconsistencies between this Amendment and
                        the applicable MPL Agreement, this Amendment shall
                        prevail.

   [THIS SPACE LEFT INTENTIONALLY BLANK]

                                                                              16
<PAGE>

      By your execution of this Amendment as indicated below and delivery of a
signed counterpart to my attention, GSK shall agree to the terms and conditions
set forth above.

      Best regards.

      CORIXA CORPORATION

      /s/ STEVEN GILLIS
      ______________________________________________
      By:   Steven Gillis
      Its:  Chairman and Chief Executive Officer

      AGREED TO AND ACCEPTED BY:

      SMITHKLINE BEECHAM PLC

      /s/ JEAN STEPHENNE
      ______________________________________________
      By:   Jean Stephenne
      Its:  Attorney-in-fact

                                                                              17
<PAGE>

                                    EXHIBIT I

                              MANUFACTURING PATENTS

<TABLE>
<CAPTION>
 CASE                      APPLICATION NUMBER       PATENT NUMBER
NUMBER       COUNTRY           FILING DATE           FILING DATE        STATUS
--------------------------------------------------------------------------------
<S>          <C>           <C>                      <C>                 <C>

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
[*]
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

* [*] patent family included in both Exhibit I and II as the claims include [*]
</TABLE>

                                              *CONFIDENTIAL TREATMENT REQUESTED.

                                                                              18
<PAGE>

                                   EXHIBIT II

                                     PATENTS
<TABLE>
<CAPTION>
 CASE                   APPLICATION NUMBER       PATENT NUMBER
NUMBER      COUNTRY        FILING DATE            FILING DATE        STATUS
---------------------------------------------------------------------------
<S>         <C>         <C>                      <C>                 <C>

[*]
---------------------------------------------------------------------------
</TABLE>

                                              *CONFIDENTIAL TREATMENT REQUESTED.

                                                                              19
<PAGE>

                                  EXHIBIT IIIA

                                    WORK PLAN
                                       [*]

                                              *CONFIDENTIAL TREATMENT REQUESTED.

                                                                              20
<PAGE>

                                  EXHIBIT IIIB

                     COLLABORATIVE STEERING COMMITTEE (CSC)

Corixa and GSK shall agree on the installation of a Collaborative Steering
Committee (CSC) with [*] members from Corixa and [*] members from GSK. The CSC
is charged with considering and adopting or rejecting changes to the attached
Work Plan as required by the practice of good business judgment and high
scientific standards. In addition, the committee shall represent the respective
companies for current technical operations issues (MPL manufacturing, MPL
expanded capacity plans and process validation) and subsequent phase activities
as outlined in the Work Plan.

Composition: The CSC shall be comprised of [*]) named representatives of Corixa
and [*] named representatives of GSK. Each of the representatives will have one
(1) vote on matters that come before the CSC and will be entitled to vote
through proxy vote if he/she is unable to attend in person. The initial named
representatives to the CSC are as follows:

Corixa Representatives                               GSK Representatives
[*]                                                  [*]

Each Party may replace one (1) or more of its named representatives from
time-to-time with the consent of the other Party, which consent shall not be
unreasonably withheld. One (1) of the representatives of Corixa shall be the
chairman of the CSC, and in such capacity, such representative shall be
responsible for setting the agenda for meetings of the CSC, with input from the
other members, and for conducting the meetings of the CSC. Each Party shall be
entitled to have further representative(s) attending CSC meetings on an ad-hoc
basis provided that such Party informs the other at least five (5) working days
prior to the concerned CSC meeting and provided that such additional
representative(s) shall have no vote on matters that come before the CSC.

Meetings: The CSC shall meet not less than four (4) times per calendar year
alternatively at Seattle, Washington, USA, Hamilton, Montana, USA and Rixensart,
Belgium or alternatively through video conferences as the CSC may agree. Subject
to the preceding sentence, the CSC shall meet on such dates and at such times
and places as agreed to by the members of the CSC. Each Party shall be
responsible for all of its own expenses relating to attendance at or
participation in CSC meetings. Within thirty (30) days following each CSC
meeting, the chairman shall cause to be prepared and shall provide to the other
Party a draft of reasonably detailed written minutes describing all matters
reviewed or considered by the CSC and all determinations or decisions made and
actions taken by the CSC and a summary of the reasons therefore stated by the
members of the meeting. The minutes of any meeting of the CSC shall be final
upon approval by the members of the CSC at any subsequent meeting. The minutes
and the drafts of any minutes shall be the confidential information of the
Parties.

Actions: For the transaction of business, a quorum consisting of at least [*] of
GSK's members and at least [*] of Corixa's members must be present at a meeting.
Decisions of the CSC, unless

                                              *CONFIDENTIAL TREATMENT REQUESTED.

                                                                              21
<PAGE>

otherwise stated herein, shall be made by majority vote of the members, provided
that a quorum is present and at least one (1) representative of each Party votes
in favor of such action.

                                                                              22
<PAGE>

                                   EXHIBIT IV

                                Quality Agreement

                                        *

                                CORIXA - GSK BIO

                                        *

                  Supply of Bulk MPL(R) Adjuvant (MPL) for use
                          in Human Vaccine Manufacture

                                                                              23
<PAGE>

This document contains confidential, proprietary information intended for the
sole use of GlaxoSmithKline Biologicals, Inc. (GSKBio) and Corixa Corporation.
(Corixa). Disclosure of this information without the express written consent of
GSKBio and Corixa is prohibited.

Upon agreement by responsible heads of the Quality Assurance Departments for
GSKBio (Global Head Quality Assurance) and Corixa, this Quality Plan will be
revised as needed and distributed to appropriate GSKBio and Corixa personnel.

This Quality Agreement will be annexed to the supply contract and reviewed and
revised as needed.

_______________________________                  _______________________________
Global QA Representative                         QA Representative
GlaxoSmithKline Biologicals, SA                  Corixa Corporation

_______________________________                  _______________________________
Date                                             Date

                                                                              24
<PAGE>

TABLE OF CONTENTS

<TABLE>
<S>                                                           <C>
1. Introduction.............................................  26
2. Quality Statement........................................  26
3. Standard Operating Procedures............................  27
4. Personnel Training.......................................  28
5. Production of Intermediates and Finished Products........  29
6. Labeling and Packaging...................................  33
7. Storage and Shipping.....................................  34
8. Stability Testing and Sample Retention...................  35
9. Lot Recall...............................................  36
10. Change Control and Change Notification..................  36
11. Quality Assurance.......................................  38
12. Regulatory Issues.......................................  39
13. Responsible Contacts....................................  40
</TABLE>

TABLE OF APPENDICES

<TABLE>
<S>          <C>
Appendix 1:  Corixa Documents Provided as Controlled Documents to GSK Bio

Appendix 2:  [*]

Appendix 3:  [*]

Appendix 4:  Change Notification Form

Appendix 5:  [*]

Appendix 6:  Supply Agreement Responsibilities
</TABLE>

                                              *CONFIDENTIAL TREATMENT REQUESTED.

                                                                              25
<PAGE>

1. INTRODUCTION

This Quality Agreement is intended to provide GSKBio, a customer of bulk MPL(R)
Adjuvant (MPL) manufactured by Corixa, with information concerning Corixa's
Quality Program. Aspects of the Quality Program that are related specifically to
the preparation, control, and handling of MPL are described within this Quality
Agreement.

The Quality Program is the responsibility of Corixa's Vice President, Quality
Systems and Compliance and involves representatives from the production,
release, control, engineering and development of Corixa's products. The VP
Quality Systems and Compliance is also the Chairman of the Specifications
Committee, which is responsible for establishing product release specifications,
and the Material Review Board, which determines the disposition of lots with
indications of possible non-conformance with established quality criteria. The
VP Quality Systems and Compliance reports to the Senior Vice President, Clinical
Development.

The objectives of Corixa's Quality Program are:

-     To assure that Corixa products are prepared in compliance with corporate,
   contractual, and national GMP regulatory standards;

-     To establish procedures that guarantee QA-oversight over product
   manufacture, testing and distribution.

-     To establish quality control procedures that enable consistent preparation
   and testing of products through control of raw materials, processes,
   equipment, personnel and test methods;

-     To establish procedures to document the performance of quality control
   measures;

-     To establish procedures to ensure the accountability of generated data,
   i.e., that the data as reported applies to the indicated processes
   measured and/or to samples submitted;

-     To establish traceability procedures for information related to product
   preparation, testing, and distribution;

-     To establish validation procedures for information related to product
   preparation, testing and distribution

-     To establish procedures that minimize the possibility of loss, damage or
   tampering with materials produced for distribution by Corixa.

2. QUALITY STATEMENT

The assurance of quality is fundamental for all work undertaken and is practiced
by all Corixa employees.

Quality is enhanced through the use of formalized procedures designed to
eliminate product deficiencies. To promote uniformity of work methods,
procedures fundamental to the production of quality materials are in effect at
all times, without significant deviation. It is the responsibility of individual
Department Managers and/or Directors to compile, implement and integrate these

                                                                              26
<PAGE>

procedures into regular working methods and to ensure that all such methods are
clearly defined and documented. It is also the responsibility of Department
Managers and/or Directors to ensure through training that employees understand
and follow procedures and to document that training.

It is the responsibility of Corixa's management to ensure that these procedures
are implemented and reviewed on a minimum of a biannual basis to assure that
they adequately reflect Corixa philosophy.

It is the responsibility of Quality Systems and Compliance to monitor the
implementation of the Quality program, to verify that necessary systems,
procedures and policies exist, or, in the absence of such, to initiate the
development of the same and to verify implementation and adherence by regular
auditing procedures.

Quality Systems and Compliance is organized such that it is free to make
decisions regarding matters of internal compliance and is not influenced either
by internal sources or by contractual sources.

3. STANDARD OPERATING PROCEDURES

Formalized documents have been developed at Corixa in the form of Standard
Operating Procedures (SOPs). These SOPs have been designed to instruct operators
on the use of equipment and the performance of specific tasks, and to describe
in-house policies intended to assure consistency of product manufacture. SOPs
have been categorized into departmental areas in which specific pieces of
equipment are used, a particular process is carried out, or in which the policy
applies. An index of the departmental sections and a brief description of the
types of SOPs contained within each section are listed below.

      Animal Care (AC) - Contains SOPs describing care, use and handling of
      laboratory animals. Animals within the facility are used both for testing
      of finished products and for research purposes by discovery and
      development departments. Quality Control maintains a separate area within
      the animal facility for housing of animals used for product testing
      purposes.

      Administration/Documentation (AD) - Contains one SOP that describes
      employee health assessments.

      Clinical/Regulatory (CR) - Contains SOPs relating to the conduct of
      clinical studies and maintenance of regulatory documentation by the
      Clinical Development Department.

      Central Supply (CS) - Contains SOPs concerning equipment used in the
      Central Supply area and policies describing the movement of materials both
      entering and leaving the Central Supply area.

      Engineering (E) - Contains SOPs describing use of metrology equipment and
      calibration of Production and Quality Control equipment with traceability
      to NIST standards. Also includes SOPs concerning operation of HVAC
      systems, water systems, electrical systems, building pressurization
      systems, and compressed gas systems. Operation of major pieces of
      production-related equipment such as autoclaves, lyophilizers and

                                                                              27
<PAGE>

      depyrogenating ovens are also covered under Engineering SOPs, as are
      procedures for equipment validation and validation of Production
      processes.

      Preventative Maintenance (PM) - Contains SOPs designed to ensure the
      continued efficient operation and care of equipment through preventive
      maintenance programs.

      Production - Contains SOPs covering cleaning and operation of equipment,
      cleaning of the Production facility, use of specialized areas within the
      Production facility, and additional instruction for processes described
      within manufacturing documents.

      Quality Control - Contains SOPs describing handling and preparation of
      samples, test methods, use and operation of equipment, and documentation
      of test results.

      Quality Assurance - Contains SOPs describing internal and external audit
      procedures, deviation reporting systems, product release, review and
      disposition of non-conforming raw materials and products, training
      policies, responding to customer complaints, customer notification of
      changes, and specification development.

      Security - Contains SOPs relating to security systems in use at Corixa.

      Shipping and Receiving - Contains SOPs describing processing and handling
      of both incoming and outgoing shipments of materials.

      Validation - Contains SOPs describing validation of computer-related
      equipment, as well as procedures related to the validation of
      manufacturing processes, testing methods and shipment procedures.

GSKBio is responsible for document control of SOPs received from Corixa. A
representative list is provided in Appendix 1.

4. PERSONNEL TRAINING

In order to ensure that personnel have the necessary education, background,
training, and experience to assure correct performance of their job functions,
Corixa selects its employees based upon education, aptitude, and experience in
the particular area for which a vacancy exists. All Corixa employees are
provided with an orientation program upon initiation of employment which covers
OSHA regulations, safety training, and GMP compliance. Orientation is tailored
for each job function by providing additional exposure in areas that are
critical to successful completion of specific job functions.

Training is an ongoing process to ensure that personnel have a thorough
understanding of their jobs. A permanent training record is kept for all
employees by each departmental Manager and/or Director. The training record
documents the in-house training as well as off-site training that an employee
has received relating to their particular job function. Job function training is
conducted both through group training sessions as well as through one-on-one
sessions with qualified trainers. Job function training is tied directly to a
particular group of SOPs as well as to the process for which the employee is
being trained. An employee is given responsibility for the

                                                                              28
<PAGE>

performance of a particular job function only after training has been completed
successfully and is documented by both the employee and the trainer.

5. PRODUCTION OF INTERMEDIATES AND FINISHED PRODUCTS

Several formalized systems have been created at Corixa to control all aspects of
the production and release of intermediates and finished products. These systems
are described by policy-related SOPs and include raw materials control, a part
numbering system that provides complete traceability of materials, and
establishment of standardized manufacturing instructions for material
preparation.

PART NUMBERING SYSTEM

All consumable materials used in the Production area are identified through a
part numbering system. An SOP is in place describing the use of the part
numbering system for identification of raw materials, in-process materials and
finished materials. Each material is assigned a five digit part number (PN)
based upon material characteristics and a Part Number Specification sheet is
prepared for that material. The Part Number Specification sheet contains
information concerning qualified vendors, material characteristics, storage
conditions, sample retention requirements, required specifications, and testing
required for proof of specification compliance. Upon receipt of raw materials,
each shipment is assigned the appropriate five digit part number and is given a
lot number in the form of an additional nine digit number based on the month,
day, and year the material is received on site and a sequential (serial) number
for the particular material. The combination of the part number along with the
nine digit numeric lot number prevents any two lots of raw material from having
the same identifier. In the same manner, a numeric lot number is assigned to
each in-process material, prepared reagent, or finished product based upon the
month, day, year, and sequential (serial) number when the manufacturing
instruction for that particular material is given to Production personnel for
initiation of production.

Part numbering coupled with assignment of lot numbers for all consumable
materials allows for complete traceability of all consumable materials used in
the production of intermediates or finished products at Corixa. The part number
assigned to MPL(R) Adjuvant at the time of signing was PN 60039. An example of a
specific lot number for MPL(R) Adjuvant is PN 60039-070999001.

RAW MATERIALS

All raw materials intended for use in production are quarantined upon their
arrival in a locked area that is accessed only by authorized Shipping and
Receiving and Quality Control personnel. An initial receiving inspection is
conducted and documented by Shipping and Receiving staff to verify that the
shipment is from an authorized vendor, the quantity ordered and the quality or
grade are appropriate as per the part number specification sheet, and the
information supplied by the vendor is accurate and complete. The shipment is
also checked by Shipping and Receiving personnel for appropriate package
integrity. A Shipping Report is completed for each lot of raw material that
documents the identity of the vendor, vendor lot number, date of arrival,
quantity, condition, and indicates the assigned Corixa part number and lot
number. This part number/lot number combination is used to identify the material
throughout its use at Corixa. A quarantine label is then affixed to each
shipping container that indicates the assigned Corixa part number/lot

                                                                              29
<PAGE>

number, the material's quarantine status, the number of units in the shipment,
and the expiration date of that lot of raw material (if applicable). The raw
material is then moved to the quarantine storage area and a Raw Material Test
Request form is completed by Shipping and Receiving staff and delivered to the
Quality Control Department along with the Shipping Report. Quality Control
representatives sample the raw material and conduct appropriate testing as
specified on the Part Number Specification sheet. Test results are reviewed, the
certificate of analysis supplied by the vendor is reviewed, and the raw material
released to Production for use only after a determination has been made that the
material meets required specifications. At that time, an overlabel indicating
that the material has been released is applied to the quarantine label by a
Quality Control representative. A copy of the Raw Material Test Request Form is
submitted to representatives of Accounting as well as to the Central Supply
clerk, and the raw material is moved to the released inventory storage area by a
Quality Control representative. The raw material is added to the released
inventory by the Accounting staff and is thereafter available for use by
Production personnel.

Tests required for the release of raw materials according to written
specifications are conducted by Quality Control prior to the release of that
material for use by the Production Department. In addition to testing by the
Quality Control Department for appropriate characteristics, a certificate of
analysis (C of A) is required from the vendor for each raw material, and that C
of A is kept on file along with all other documentation concerning that raw
material and its use at Corixa.

MANUFACTURING INSTRUCTIONS

Manufacturing instructions are prepared as master documents for the manufacture
of all materials by the Production Department at Corixa. Manufacturing
instructions are maintained under a change control system in which all changes
to procedures are evaluated, justified and approved prior to implementation.
Validation may be required prior to approval for significant changes that may
produce differences in the quality, purity, safety, and/or potency of a product.
Copies of these master documents are prepared by a representative of Quality
Assurance upon formal request by Production to initiate the preparation of
reagents, containers, closures, components, or finished products. Each
manufacturing instruction provides information concerning the requirements for
raw materials, the necessary equipment, and the procedure. In addition, the
manufacturing instructions require the operator to provide information
concerning the identification of equipment and materials used, the persons
performing the operations, the date that the operations were performed, the
yields obtained from the operation, and any further information required to
provide complete traceability of the manufacture of that material. Manufacturing
instructions are divided into four categories based upon the type of material
being prepared, as summarized below:

      Equipment Preparation Records (EPRs) provide instructions for the cleaning
      and preparation of equipment in the Production area;

      Reagent Preparation Records (RPRs) provide instructions for the
      preparation of various reagents such as media, buffers, and organic
      solvents that are used in the Production area during the manufacture of
      intermediates and/or finished products;

                                                                              30
<PAGE>

      Container/Closure Preparation Records (CPRs) provide instructions for the
      preparation of containers and closures that are used as either final
      product containers or containers for in-process materials;

      Master Batch Records (MBRs) provide instructions for the manufacture of
      intermediates and/or finished products. An individual MBR may yield an
      in-process material, or may yield the final product.

Each manufacturing instruction in place at Corixa corresponds to a part number
that identifies the resulting product. A part number specification sheet is
prepared for each part number assigned that contains all information regarding
the material manufactured (see above). As copies of manufacturing instructions
are issued by Quality Assurance to Production personnel for the initiation of a
manufacturing procedure, a lot number is assigned to that copy of the
manufacturing instruction according to the day of the month and the year that
the work order is processed by Central Supply personnel. That part number/lot
number combination is used to identify the manufactured material and to trace it
throughout its existence.

Completed manufacturing instructions for each reagent, in-process intermediate,
container/closure preparation, intermediate, or finished product are reviewed by
a representative of Quality Assurance as the material is submitted to Central
Supply for quarantine. Once reviewed, the manufacturing instruction document is
stamped to indicate completion of the review and initialed by the reviewer. If
any deviations from written instructions have occurred during the manufacturing
process, a deviation report is prepared and submitted to the QA Manager for
review. A determination as to whether that deviation might have an effect on
product quality, purity, safety, or potency is either made by Quality Assurance
or deviation reports may be forwarded to the Material Review Board for review
and determination of disposition of the material. GSKBio will be notified of any
deviation investigations carried out during the manufacture of a product that is
intended for delivery to them via the Tracking Transfer Document.

The Quality Control Department at Corixa is responsible for testing as well as
the release or rejection of raw materials, packaging materials and in-process
materials based on current specifications. Laboratory facilities and equipment
are appropriate for the required analytical procedures, and personnel have been
sufficiently trained to perform the analyses accurately. Operator training is
documented as per the requirements of the training program. Maintenance and/or
calibration procedures, including system suitability evaluations if applicable,
are included for analytical equipment and assays. Records are kept for all
reagents, culture media, and equipment used for testing purposes. Reagent
preparation is documented according to written procedures and reagents are
labeled appropriately and assigned expiration dates prior to storage in the
Quality Control laboratory.

All testing procedures carried out in the Quality Control Laboratory are
conducted according to SOPs (see Section 3). Any deviations from SOPs are
reported and investigated according to set procedures and time frames. QA is
responsible for review of such investigations, for determinations as to whether
product quality may be affected by the deviation, and for final disposition of
the product affected by the deviation.

                                                                              31
<PAGE>

MANUFACTURING DEVIATIONS

Manufacturing deviations are documented and investigated based on Corixa
controlled documents on the handling of deviations. Deviations are consistently
evaluated for any impact on the quality, purity, safety, and/or potency of the
product.

      Deviation and Observation Reporting System Forms (DORS) provide details of
      any deviation or observation of unusual manufacturing conditions (also
      provides details of any deviation/observation outside of manufacturing
      area. and includes documentation of all assessments, investigations,
      decisions and subsequent corrective actions. The DORS Event number is
      referenced on the batch record documentation. The original document is
      stored in the associated DORS Event file.

      Out of Specification Reports (OOS) provide details of any failure of the
      product to meet defined specifications and includes documentation of all
      assessments, investigations, decisions and subsequent corrective actions.

      Environmental Deviation Reports (EDR) provide details of any failure of
      the production environment to meet defined specifications and includes
      documentation of all assessments, investigations, decisions and subsequent
      corrective actions.

      None of these documents (DORS, OOS, EDR) become permanent parts of the
      associated batch record Corixa standard operating procedures prohibit the
      release of materials until all deviations have been resolved.

      Corixa QA is to decide the final status of the materials following
      appropriate investigations and assessments. GSKBio QA requires full
      transparency around any individual deviation affecting MPL- product,
      testing or shipment.

LOT RELEASE TESTING

Final products are tested according to current release specifications as listed
on part number specification sheets for each material requiring testing. Quality
Control personnel analyze the material, document the test results on the Quality
Control Analysis Report form, and attach all hard data to the form. Once testing
is completed, the Quality Control Analysis Report form and all hard data are
reviewed by the Quality Control Manager. The testing data is forwarded to the
Quality Assurance Manager for final accept/reject decisions based upon testing
results as well as review of all manufacturing documentation including
deviations from procedures. If the final product meets all release
specifications and has been manufactured according to required procedures with
no significant deviations, a notification of release is provided to Central
Supply by Quality Assurance to indicate release. Finished product is then
removed from the Central Supply quarantine area to the finished goods area by
Central Supply personnel.

If the finished product does not meet release specifications, a procedure (SOP)
is in place to track the disposition of the rejected material. A Material
Rejection Report is completed by Quality Assurance and that report is circulated
to representatives of Production, Adjuvant Development, Purchasing and Quality
Control for signature. A copy of the completed Material

                                                                              32
<PAGE>

Rejection Report indicating disposition of the rejected material, is provided to
Accounting and the rejected material is disposed of appropriately.

GSKBio will perform lot release testing upon receipt of MPL materials, according
to GSKBio Quality Control Procedure 10026402 (Appendix 5). GSKBio will make
their acceptance criteria and methods for determining acceptability available to
Corixa. They will also advise Corixa of any changes in their requirements or
methods.

If the received bulk materials are found to not comply with the agreed
specifications, GSK will notify Corixa immediately, advising Corixa of the batch
number(s) and such details of the test failure as are available. After
confirmation of the GSKBio testing result, Corixa shall retest samples from the
same bulk retained. If Corixa finds that, based on the retested sample, the bulk
does not comply with the specifications set forth in the Corixa material
specifications, it will be treated as if no lot had been delivered and a
replacement lot will be scheduled in accordance with the supply agreement.

In the case that Corixa results and GSKBio results on the suspect lot do not
match, and after a reasonable investigation on the reason for the opposing
results Corixa, a mutually agreed third party shall continue testing of the
suspect lot and decide on the questioned compliance with the set specifications.
Corixa and GSKBio will share equally the costs associated with the third party
testing including any costs associated with the necessary technology transfer.
At the discretion of either party, this requirement may be waived and the
opposing parties position accepted without any admission of fault.

6. LABELING AND PACKAGING

Labeling of materials is strictly controlled through a series of SOPs that
describe the requirements for documentation and control, label accountability,
performance of labeling operations, and inspection of labeling areas prior to
and following labeling operations. All incoming labeling materials are placed in
quarantine by Shipping and Receiving personnel pending examination of
representative samples against an approved master copy of that item by Quality
Control. A record of receipt, examination or testing, acceptance or rejection,
and disposition is kept for each shipment of labeling materials. Each individual
type of labeling material has been assigned a part number and a part number
specification sheet prepared with appropriate information including a master
copy of the labeling material. A lot number is assigned to the labeling material
based upon the date that it arrives on site.

All labeling materials are stored in a secured storage area with labels for
different products stored separately.

A labeling operation is initiated by a request from a Production representative
for labeling materials. A "Label Accountability" form is prepared that documents
the number of labels issued, 100% inspection of those labels by two persons for
conformity to master label stock, and use of those labels during labeling
operations. Labeling operations themselves are controlled by SOPs requiring
documentation of the use of the labels as well as requiring inspections of pre-
and post-labeling operations by a representative of Quality Control.

Corixa will notify GSKBio of labeling changes affecting MPL.

                                                                              33
<PAGE>

7. STORAGE AND SHIPPING

MPL final product is filled and lyophilized in 1 L screw top bottles composed of
USP Type 1 borosilicate uncolored glass. The fill quantity is 2 g per bottle and
the bottles are stoppered under a nitrogen gas overlay. The bottles are closed
with 43 mm lyophilization stoppers made of gray butyl rubber (4416/60 gray
formulation). Bottles plus stoppers are capped with plastic screw caps and are
sealed with tamper-proof seals.

MPL is also provided in 10 mL vials with 5 mg per vial for Quality Control
testing at Corixa and GSKBio. The vials are made of USP Type 1 borosilicate
uncolored glass and are closed with 20 mm lyophilization stoppers consisting of
gray butyl rubber (formulation 850). Vials plus stoppers are capped with 20 mm
aluminum tear-off seals.

A shipment of MPL is initiated with receipt of a purchase order from GSKBio and
is based upon availability of inventory as well as prior agreements between
GSKBio and Corixa. MPL is delivered to GSKBio FOB from the Corixa facility in
Hamilton, MT, or at other locations as Corixa may specify. Title to and risk for
the MPL shipment passes to GSKBio upon delivery to the freight carrier.
Shipments of MPL are handled by Federal Express International carrier or
equivalent and will be designated as "international priority" mail.

All shipping procedures for MPL are described and controlled in SOPs (see
Section 3). The specified shipping containers hold up to 6 x 2 g bottles of
MPL,. The bottles are wrapped individually with protective packing material
prior to placement in the container. Frozen ice packs are included with each
shipping container to maintain a specified temperature range throughout the
course of the shipment. Corixa will use validated shipping configurations to
guarantee the temperature and seal of the materials during their transfer to
GSK-premises.

Depending on the quantity of MPL that has been ordered, a shipment may comprise
more than one shipping container and more than one lot of MPL. The container
designated as "#1 of N" will contain the following items:

1.    For each lot of MPL in the shipment, a Release Protocol that provides
      testing results and release authorization by the Quality Assurance Manager
      (Appendix 2);

2.    For each lot of MPL in the shipment, a Tracking Transfer Document that
      contains a deviation summary, as well as a summary of any manufacturing
      changes, information on lot numbers, yields, and test results for the
      in-process intermediates used in manufacture of the lot, along with
      process information on key steps (Appendix 3);

3.    For each lot of MPL in the shipment, 30 x 5 mg vials for Quality Control
      testing and retention. In the event that a lot of MPL has been shipped
      previously to GSKBio, no 5 mg sample vials will be included unless prior
      arrangements have been made by GSKBio;

4.    Standard shipping documentation for international shipment of materials as
      required by the carrier as well as the appropriate customs office.

A TempTale monitor will also be included in each container along with
instructions for returning the monitor(s) to Corixa. The monitor(s) will be
programmed to record temperature at 5 minute intervals throughout the entire
shipping period.

                                                                              34
<PAGE>
'
Upon arrival of the shipment at the premises of GSKBio or of their specified
agent, the following procedures will be performed:

1.    Containers will be inspected for damage and enclosed documentation
       evaluated for completeness;

2.    The TempTale monitor will be removed from each container, date stamped (by
       depressing the date stamp button on the end of the unit without the
       silver ring), and the data will be downloaded. The monitor(s) are to be
       returned to Corixa, and must be received by Corixa within 20 working days
       from delivery of the shipment;

3.    The Receiving Report form from container #1 will be filled out and filed
       by GSKBio;

4.    The Transfer Document(s) and Certificate of Analysis(es) will be removed
       from container #1 and distributed to the appropriate personnel at GSKBio;

5.    The 5 mg sample vials will be removed from container #1 and given to a
       representative of Quality Control;

6.    Bottles containing MPL will be removed from the shipping containers and
       placed in storage at 2(degrees)-8(degrees)C.

Temperature data from the TempTale monitors are to be reviewed by a designated
representative of GSKBio. Should it be determined that a temperature excursion
involving exposure to temperatures outside the specified range of for a period
exceeding one hour has occurred, GSKBio will notify Corixa and the disposition
of the affected container(s) will be determined by joint discussions. GSKBio is
responsible for archiving the temperature data for all shipments.

8. STABILITY TESTING AND SAMPLE RETENTION

The Quality Control Department at Corixa will maintain and execute a master
stability protocol for MPL, as described in SOP QC-10039, "Master Stability
Protocol for MPL(R) Bulk Drug Substance." According to this protocol, expiration
dating for MPL is established by real time stability testing on three lots of
MPL. Thereafter, one lot of MPL per year is selected at random to be enrolled in
the stability program. The first three lots manufactured after marketing
approval is received will also be placed on real time stability, followed by one
lot per year in subsequent years.

GSKBio will be notified in the event that any lot of MPL received by them fails
a real time stability test. Such test failures require an investigation to
determine if the test result is valid, and notification of GSKBio will occur
within 3 days of completion of such determination. GSKBio will also be notified
if information emerges which indicates that the shelf life for MPL is incorrect.
These communications will occur through GSKBio Quality Assurance.

The Quality Control Department at Corixa will retain a supply of 5 mg and 10 mg
sample vials from each released lot of MPL. These retention samples will be
stored at 2(degree)-8(degree)C, in the same manner as for the product, and will
be used in the event that unanticipated questions arise requiring further
testing and/or characterization. If adequate supplies are available, retention
samples may be provided to GSKBio as necessary to assist in their investigation
of lot-related questions.

                                                                              35
<PAGE>

9. LOT RECALL

The procedure for recall of marketed products by Corixa is described in SOP
QA-9900, "Marketed Product Recall." This SOP describes the process for making
product recall decisions, and also delineates the actions following a recall
decision, including retrieval of distribution data, notification of customers,
receipt/segregation/inspection of returned product, investigation/reporting of
returned product, and reporting of corrective actions.

Recall decisions are initiated by a recommendation from the Material Review
Board, which is chaired by the VP Quality Systems and Compliance or their
designee. This recommendation is reviewed by a senior management team at Corixa.
In the event that there is a recommendation to recall one or more batches of MPL
or to recall other formulations of MPL that could implicate the MPL, GSKBio QA
will be notified the same working day.

Final responsibility for all recall decisions resides with the CEO/President of
Corixa. The Regulatory Affairs Department is responsible for coordinating recall
actions.

GSKBio is responsible for the recall of any affected lot(s) of their product(s)
that contain the recalled lot of MPL. GSKBio is also responsible for notifying
the appropriate regulatory authorities of the recall actions related to their
products.

10. CHANGE CONTROL AND CHANGE NOTIFICATION

Changes to procedures, processes, equipment, test methods, and specifications
related to MPL manufacture, testing and shipment as well as other GMP products
made by Corixa are strictly controlled by Corixa's change control and change
notification policies. GSKBio will have access to Corixa`s Change control policy
procedure. As a customer of Corixa, GSKBio will be notified of any changes
related to the manufacture, testing and shipment of MPL. Procedures related to
Corixa's change control policy are described in SOPs E-1004 (equipment), QA-100
(controlled documents), and QA-3501 (specifications), and the customer change
notification policy is described in SOP QA-104. These SOPs are incorporated by
reference in this Quality agreement, and controlled copies of these documents
will be provided to GSKBio and maintained in accordance with Corixa's document
control procedures. The main elements of the customer change notification policy
(SOP QA-104) are summarized in this section.

POLICY STATEMENT

Corixa recognizes the value of its customer, GSKBio, and the importance of
communication in maintaining a satisfactory business relationship. In
recognition of Corixa's commitment to customer satisfaction, Corixa agrees to
notify GSKBio in a timely and appropriate manner of all changes relating to the
manufacture and release of MPL. The timing and manner of notification, as well
as the level of involvement by GSKBio prior to implementation, will be
determined by the category of change as specified in this policy.

PURPOSE

As a producer of MPL, Corixa must occasionally make changes in its processes to
ensure that this product continues to meet the needs of its customer, GSKBio. At
the same time, GSKBio must be confident that such changes will not compromise
the performance and suitability of

                                                                              36
<PAGE>

MPL for use in its applications. The purpose of this policy is to provide a
mechanism for addressing the needs of both Corixa and GSKBio regarding changes
affecting MPL. This policy defines procedures by which GSKBio will be informed
of all changes in the manufacture, release, and control of MPL.

PROCEDURE

The FDA recognizes that changes differ with respect to their potential to
adversely affect the safety, purity, and/or potency of a product, and
accordingly have established different reporting requirements for changes
depending on their level of importance. Corixa applies the reporting
requirements for the FDA to notification of GSKBio to changes related to MPL.
The change notification categories and procedures used by Corixa are summarized
below (additional detail is provided in SOP QA-104):

      Category 0 - Editorial Changes - This category involves changes that do
      not alter the process or product per se but relate only to documentation
      changes that are considered editorial. Such changes will generally not be
      reported to the regulatory authorities unless they involve the Drug Master
      File or other regulatory filings. Category 0 changes will be communicated
      to GSKBio by notation on the documentation that accompanies the first
      affected lot. GSKBio approval is not required for implementation of
      Category 0 changes.

      Category I - Minor Changes - These changes include modifications to
      procedures, process parameters, components, manufacturing methods,
      reagents, equipment and facilities that are intended to tighten control(s)
      on the product or process and yet are not associated with a potential
      adverse impact on product safety, purity or potency. Limited qualification
      or validation may be required for Category I changes. Such changes will
      typically be reported to the regulatory authorities in the form of routine
      annual reports, and it may be necessary to amend regulatory filings as a
      result of such changes. All Category I changes will be communicated to
      GSKBio via the Change Control Form (see Appendix 4). GSKBio approval is
      not required for implementation of Category I changes.

      Category II - General Changes - Changes in this category include
      modifications that do not change the manufacturing process for MPL but
      have the potential to adversely affect product safety, purity and/or
      potency. Changes in test methodology or product specifications intended to
      tighten control are also included in this category. Corixa will notify
      GSKBio of Category II changes. Notification will be made via a package
      comprising the Change Notification Form, supporting documentation, and
      test samples as appropriate. Implementation of Category II changes
      requires written agreement by GSKBio within 30 days of receipt of the
      change notification package unless alternative arrangements have been
      made. It is the responsibility of GSKBio to obtain required authorities
      approval for implementation of proposed changes. Final approval of a
      change by competent authorities will be communicated by GSKBio to Corixa
      in a timely manner.

      Category III - Major Changes - Changes in this category are considered
      significant and will require process validation. The implementation plan
      for such changes will typically be discussed in advance with GSKBio and
      should include provisions for process validation and demonstration of
      product/process consistency. Corixa will provide

                                                                              37
<PAGE>

      GSKBio with a package comprising the Change Notification Form, supporting
      documentation, and test samples as appropriate. Implementation of Category
      III changes requires written agreement by GSKBio within 90 days of receipt
      of the change notification package unless alternative arrangements have
      been made. It is the responsibility of GSKBio to obtain required
      authorities approval for implementation of proposed changes. Final
      approval of a change by competent authorities will be communicated by
      GSKBio to Corixa in a timely manner.

      Category IV - Unanticipated Manufacturing Changes - Such changes may occur
      due to equipment failure, damage to facility, loss of suppliers of
      critical raw material, and other unforeseen events. Such changes will be
      communicated to GSKBio at the earliest possible time and in all cases in
      advance of product shipment. Changes involving general and routine
      equipment maintenance are not included in this category.

All official communications relating to changes will be conducted between the
respective QA representatives at Corixa and GSKBio. The QA representatives are
responsible for transmitting all change notification issues to appropriate
personnel at their respective companies for input and/or action, and for
notifying the other company of any further actions required as a result of these
communications.

For changes requiring prior notification, Corixa will discuss the proposed
changes with GSKBio in a time frame that encourages cooperation and allows for
the needs of both parties to be met. These discussions will establish the
category of the change, the necessary level of documentation, the appropriate
degree of involvement by GSKBio in the approval process, and the inventory
requirements for "pre-change" product. A detailed implementation plan may be
developed that defines the testing and validation required for approval of the
change. All contractual obligations of Corixa regarding the supply of MPL to
GSKBio will remain in effect throughout any change period, unless specific
exceptions have been agreed to by Corixa and GSKBio.

Corixa's change control procedures require that documentation be maintained in
support of all changes in manufacturing processes, equipment, test methods and
product specifications. Corixa will allow access to such documentation related
to MPL during facility audits conducted by GSKBio. GSKBio maintains a "right to
audit" of Corixa developmental documents and validation reports prior to
acceptance (approval) of general and major changes that affect MPL, or
retrospectively in the case of unanticipated changes.

11. QUALITY ASSURANCE

Upon request from GSKBio, the Quality Systems and Compliance Department at
Corixa will provide information necessary to demonstrate that appropriate
quality systems are in place and are adhered to during the manufacture and
release of MPL. GSKBio may gather such information in part through scheduled
audits of the Corixa facility.

The Quality Systems and Compliance Department at Corixa has responsibility for
the review and release of all finished lots of MPL. All lots of MPL must be
released before shipment to GSKBio or its agent. All product complaints related
to MPL should be directed to the VP Quality Systems and Compliance at Corixa.

                                                                              38
<PAGE>

Process and product deviation for any lot/batch will be notified by Corixa to
GSKBio in advance of delivery and full technical discussion will take place
between the two parties with full exchange of information to take appropriate
measures and find best solutions.

The Quality Systems and Compliance Department will prepare a Release Protocol
and a Transfer Tracking Document to accompany each lot of MPL that is shipped to
GSKBio. The Certificate of Analysis contains a summary of the test results and
indicates the date of release of the lot. The Transfer Document provides a
summary of all manufacturing changes, information on lot numbers, yields, and
test results for the in-process intermediates used in manufacture of the lot,
along with process information on key steps (See also Section 8.)

Trending of yields, process times, and analytical results will be performed on
critical process points and quantitative test results as determined by the
Quality Systems and Compliance Department at Corixa. The Quality Systems and
Compliance Department will notify GSKBio of results from any trend analysis that
indicate that the MPL manufacturing process is operating outside of historical
ranges.

A GMP statement signed by Quality Assurance representative has to be provided
with every lot together with the certificate of analysis.

12. REGULATORY ISSUES

Corixa maintains a Type II Master File (MF) with the Center for Biologics
Evaluation and Research at the FDA. This MF was initially submitted on October
29, 1992, and is identified as BB-MF 4809, "Manufacture and Control of
Monophosphoryl Lipid A, a Drug Substance." BB-MF 4809 has been amended as needed
to accurately document the manufacture and control of MPL. The most recent
amendment to the MF was Amendment #5 and was submitted on June 20, 2003. The
Regulatory Affairs Department at Corixa will provide GSKBio Regulatory Affairs
with an updated copy of BB-MF 4809 as well as any amendments to this MF.

The Regulatory Affairs Department at Corixa will provide GSKBio with regulatory
support as necessary for development and licensure of GSKBio final products in
which MPL is a constituent. Corixa Regulatory Affairs will respond to requests
from the FDA and other regulatory authorities for information related to MPL,
and will notify GSKBio Regulatory Affairs in a timely manner of any such
discussions that potentially affect the use of MPL by GSKBio. Corixa Regulatory
Affairs will cooperate with GSKBio Regulatory Affairs in support of all
regulatory filings involving MPL, including participation in meetings with
regulatory authorities as appropriate.

GSKBio is ultimately responsible for ensuring the accuracy of any information
related to MPL that is contained in its regulatory filings.

                                                                              39
<PAGE>

13. RESPONSIBLE CONTACTS

[*]

                                              *CONFIDENTIAL TREATMENT REQUESTED.

                                                                              40
<PAGE>

APPENDIX 1. CORIXA DOCUMENTS PROVIDED AS CONTROLLED DOCUMENTS TO GSKBIO

SOPs

#CS-400      Assigning Lot Numbers

#CS-551      Label Documentation and Control

#E-1004      GMP Equipment Change Control

#P-530       Labeling Operation Procedure

#QA-100      Controlled Document Change Control

#QA-104      Customer Change Notification Procedure

#QA-2000     Deviation and Observation Reporting System

#QA-2001     Material Rejection

#QA-2002     Customer Complaint Procedures

#QA-6000     Material Review Board Operation

#QA-9000     Batch Record Review and Product Release

#QA-9001     Issuance, Distribution and Control of Manufacturing Instructions

#QA-9003     Preparation of GlaxoSmithKline Tracking/Transfer Documents

#QC-981      Raw Material Quality Control Procedure

#SR-001      Receiving Procedures

                                                                              41

<PAGE>

APPENDIX 2. [*]

                                              *CONFIDENTIAL TREATMENT REQUESTED.

                                                                              42

<PAGE>

APPENDIX 3. [*]

                                              *CONFIDENTIAL TREATMENT REQUESTED.

                                                                              43

<PAGE>

APPENDIX 4. CHANGE NOTIFICATION FORM

                                                            [ILLEGIBLE] 03/27/02
                                                                  SOP #QA-104.01
                                                                   ATTACHMENT #1
                                                                     Date: 03/02
                                                                 Supersedes: #NA
                                                                     Page 6 of 7

                            CHANGE NOTIFICATION FORM

PART A - NOTIFICATION BY CORIXA CORPORATION

Notification ID Number:                 Change Control ID No.:

Change Category:                Change Control Date:        First Affected Lot:

AFFECTED COMPONENT(S) [include Corixa ID number(s) and brief description(s)]

DESCRIPTION OF CHANGE(S)

REASON FOR CHANGE(S)

VALIDATION/QUALIFICATION
[ ] Necessary - describe validation/            [ ] Not Necessary - provide
    qualification study and results (attach         justification
    relevant materials)

CORIXA QUALITY ASSURANCE

Name: __________________________________________________________________________

Title: _________________________________________________________________________

Signature/Date: ________________________________________________________________

                          "CONTROLLED COPY" (Red Print)

                                                                              44

<PAGE>

                                                            [ILLEGIBLE] 03/27/02
                                                                  SOP #QA-104.01
                                                                   ATTACHMENT #1
                                                                     Date: 03/02
                                                                 Supersedes: #NA
                                                                     Page 7 of 7

PART B - RESPONSE BY CUSTOMER(CATEGORY II AND III CHANGES ONLY)

Notification ID Number:                 Change Control ID No.

Change Category:          Change Control Date:               First Affected Lot:

CUSTOMER RESPONSE AND COMMENTS

[ ] Approved              [ ] Not Approved - please provide detailed explanation

CUSTOMER REPRESENTATIVE

Name: __________________________________________________________________________

Title: _________________________________________________________________________

Signature/Date: ________________________________________________________________

                          "CONTROLLED COPY" (Red Print)

                                                                              45

<PAGE>

APPENDIX 5: [*]

                                              *CONFIDENTIAL TREATMENT REQUESTED.

                                                                              46

<PAGE>

APPENDIX 6: SUPPLY AGREEMENT RESPONSIBILITIES

                                                                  Responsibility

1.

<TABLE>
<CAPTION>
                                                                                       Responsibility
                                                                                       --------------
                                     Clause                                            Corixa    GSK
------------------------------------------------------------------------------------   ------   -----
<S>                                                                                    <C>      <C>
1   Manufacture of the MPL Bulk Product and release for use in GSK vaccines              X

2   Starting raw materials are purchased, tested and released by                         X

3   Expiry dating, batch numbers and storage conditions will be provided by              X

4   Safety information to be provided by                                                 X

5   Starting raw materials retention samples held by                                     X

6   Final bulk product retention samples held by                                         X

7   Stability testing on bulk products to be done by                                     X
    Stability testing on final vaccines to be done by                                            X

8   Records of manufacturing and testing of bulk to be held by                           X

9   Certificates of analysis and GMP statement of bulk product to be prepared by         X

10  Final inspection and reconciliation of bulk product by                               X

11  Storage in Corixa warehouse                                                          X

12  Packaging and placing of suitable shipment monitoring devices by                     X

13  Validation of shipment operations by                                                 X

14  Storage in GSKBio warehouse                                                                  X

15  Recall decision on unsuitable bulk                                                   X       X

16  Shipment of recalled bulk by                                                                 X

17  Investigation on pharmaceutical technical complaints (PTC's) relating
    to bulk product: Initial complaint                                                           X
                          Manufacturing and testing of bulk                              X
                          Effectiveness stability and safety of bulk                     X
                          Reply to complainant                                                   X

18  Investigation on Medical Complaints relating to bulk product:
                          Initial complaint                                                      X
                          Clinical Investigation                                                 X
                          Technical Investigation                                                X
                          Serious and unexpected adverse Events to Corixa within 7 d             X
                          Vaccine product recall and report to Corixa                            X
    Investigation of complaints related to the bulk MPL product                          X

19  Recall or market withdrawal
    Initiation of recall related to the vaccine product                                          X
    Notification to Corixa within three working days                                             X
    Disposition of lots for further technical investigation                              X       X

20  Error and Accident Reporting
    Report to Corixa of inadvertant storage or transport of bulk                                 X
    Decision regarding further disposition of affected bulk product                      X       X
</TABLE>

                                                                              47

<PAGE>

<TABLE>
<CAPTION>
                                                                                       Responsibility
                                                                                       --------------
                                     Clause                                            Corixa    GSK
------------------------------------------------------------------------------------   ------   -----
<S>                                                                                    <C>      <C>
21  Lot Tracing
    Generation of comprehensive traceability records for bulk                            X
    Generation of comprehensive traceability records for vaccine                                 X

22  Where manufacture of vaccine finished product is carried out by third parties,
    GMP-responsibility is assumed by                                                             X

23  Alterations to the contract, specifications and manufacturing or testing
    procedures shall be agreed in writing                                                X       X

24  Master packing and labeling instructions
    Provided by                                                                                  X
    Prepared by                                                                          X
    Agreed by                                                                            X       X

25  Annual Quality Report of Product Quality Review including production                 X
    overview, quality results overview, stability, complaints to be provided to GSK.     X

26  Receipt testing and acceptance of bulk MPL adjuvant after shipment                           X
</TABLE>

Signed on behalf of Corixa/ date

Signed on behalf of GSKBio/date

                                                                              48

<PAGE>

                                    EXHIBIT V

                    MANUFACTURING KNOW HOW TRANSFER WORK PLAN

                                  (LEFT BLANK)

                                                                              49<PAGE>
                                                                    EXHIBIT 4.10

                          MISSION RESOURCES CORPORATION

                                       AND

                              THE BANK OF NEW YORK,
                                     TRUSTEE

                            ------------------------

                                    INDENTURE

                                   DATED AS OF

                                 --------------

                             SENIOR DEBT SECURITIES

<PAGE>

                          MISSION RESOURCES CORPORATION

           RECONCILIATION AND TIE BETWEEN TRUST INDENTURE ACT OF 1939
                   AND INDENTURE DATED AS OF
                                             -----------------

                        ================================

<TABLE>
<CAPTION>
SECTION OF TRUST                                                                                           SECTION(S) OF
INDENTURE ACT OF 1939                                                                                        INDENTURE
---------------------                                                                                      -------------
<S>             <C>                                                                                    <C>
Section 310     (a)(1)............................................................................................609
                (a)(2)............................................................................................609
                (a)(3).................................................................................Not Applicable
                (a)(4).................................................................................Not Applicable
                (b)..........................................................................................608, 610
Section 311     (a)...............................................................................................613
                (b)...............................................................................................613
                (c)....................................................................................Not Applicable
Section 312     (a)..........................................................................................701, 702
                (b)...............................................................................................702
                (c)...............................................................................................702
Section 313     (a)...............................................................................................703
                (b)...............................................................................................703
                (c)...............................................................................................703
                (d)...............................................................................................703
Section 314     (a)..........................................................................................704, 105
                (b)....................................................................................Not Applicable
                (c)(1)............................................................................................102
                (c)(2)............................................................................................102
                (c)(3).................................................................................Not Applicable
                (d)....................................................................................Not Applicable
                (e)...............................................................................................102
Section 315     (a)...............................................................................................601
                (b)...............................................................................................602
                (c)...............................................................................................601
                (d)...............................................................................................601
                (d)(1)............................................................................................603
                (d)(2)............................................................................................603
                (d)(3)............................................................................................601
                (e)...............................................................................................514
Section 316     (a)(1)(A).........................................................................................512
                (a)(1)(B).........................................................................................513
                (a)(2).................................................................................Not Applicable
                (a)(last sentence)................................................................................101
                (b)...............................................................................................508
Section 317     (a)(1)............................................................................................503
                (a)(2)............................................................................................504
                (b)..............................................................................................1003
Section 318     (a)...............................................................................................107

</TABLE>

---------------------
Note: This reconciliation and tie shall not, for any purpose, be deemed to be a
part of the Indenture.

<PAGE>
                                 TRUST INDENTURE

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                                               PAGE
<S>                                                                                                            <C>
ARTICLE ONE DEFINITIONS...........................................................................................1

   Section 101.          Definitions..............................................................................1
   Section 102.          Compliance Certificates and Opinions.....................................................7
   Section 103.          Form of Documents Delivered to Trustee...................................................8
   Section 104.          Acts of Holders; Record Dates............................................................8
   Section 105.          Notices, Etc., to Trustee and Company...................................................10
   Section 106.          Notice to Holders; Waiver...............................................................10
   Section 107.          Conflict with Trust Indenture Act.......................................................11
   Section 108.          Effect of Headings and Table of Contents................................................11
   Section 109.          Successors and Assigns..................................................................11
   Section 110.          Separability Clause.....................................................................11
   Section 111.          Benefits of Indenture...................................................................11
   Section 112.          Governing Law...........................................................................11
   Section 113.          Legal Holidays..........................................................................12
   Section 114.          Language of Notices, Etc................................................................12
   Section 115.          Submission to Jurisdiction..............................................................12
   Section 116.          Corporate Obligation....................................................................12

ARTICLE TWO SECURITY FORMS.......................................................................................12

   Section 201.          Forms Generally.........................................................................12
   Section 202.          Form of Legend for Global Securities....................................................13
   Section 203.          Form of Trustee's Certificate of Authentication.........................................13
   Section 204.          Securities in Global Form...............................................................14

ARTICLE THREE THE SECURITIES.....................................................................................14

   Section 301.          Amount Unlimited; Issuable In Series....................................................14
   Section 302.          Denominations...........................................................................18
   Section 303.          Execution, Authentication, Delivery and Dating..........................................18
   Section 304.          Temporary Securities....................................................................19
   Section 305.          Registration, Registration of Transfer and Exchange.....................................20
   Section 306.          Mutilated, Destroyed, Lost and Stolen Securities........................................21
   Section 307.          Payment of Interest; Interest Rights Preserved..........................................22
   Section 308.          Persons Deemed Owners...................................................................23
   Section 309.          Cancellation............................................................................23
   Section 310.          Computation of Interest.................................................................23
   Section 311.          CUSIP Numbers...........................................................................23

ARTICLE FOUR SATISFACTION AND DISCHARGE..........................................................................24

   Section 401.          Satisfaction and Discharge of Indenture.................................................24
   Section 402.          Application of Trust Money..............................................................25

</TABLE>

                                       i
<PAGE>

<TABLE>
<S>                                                                                                            <C>

ARTICLE FIVE REMEDIES............................................................................................25

   Section 501.          Events of Default.......................................................................25
   Section 502.          Acceleration of Maturity; Rescission and Annulment......................................26
   Section 503.          Collection of Indebtedness and Suits for Enforcement by Trustee.........................27
   Section 504.          Trustee May File Proofs of Claim........................................................28
   Section 505.          Trustee May Enforce Claims Without Possession of Securities.............................29
   Section 506.          Application of Money Collected..........................................................29
   Section 507.          Limitation on Suits.....................................................................29
   Section 508.          Unconditional Right of Holders to Receive Principal, Premium and Interest...............30
   Section 509.          Restoration of Rights and Remedies......................................................30
   Section 510.          Rights and Remedies Cumulative..........................................................30
   Section 511.          Delay or Omission Not Waiver............................................................31
   Section 512.          Control by Holders......................................................................31
   Section 513.          Waiver of Past Defaults.................................................................31
   Section 514.          Undertaking for Costs...................................................................31
   Section 515.          Waiver of Stay or Extension Laws........................................................32

ARTICLE SIX THE TRUSTEE..........................................................................................32

   Section 601.          Certain Duties and Responsibilities.....................................................32
   Section 602.          Notice of Defaults......................................................................32
   Section 603.          Certain Rights of Trustee...............................................................32
   Section 604.          Not Responsible for Recitals or Issuance of Securities..................................34
   Section 605.          May Hold Securities.....................................................................34
   Section 606.          Money Held in Trust.....................................................................34
   Section 607.          Compensation and Reimbursement..........................................................34
   Section 608.          Conflicting Interests...................................................................35
   Section 609.          Corporate Trustee Required; Eligibility.................................................35
   Section 610.          Resignation and Removal; Appointment of Successor.......................................35
   Section 611.          Acceptance of Appointment by Successor..................................................37
   Section 612.          Merger, Conversion, Consolidation or Succession to Business.............................38
   Section 613.          Preferential Collection of Claims Against Company.......................................38
   Section 614.          Appointment of Authenticating Agent.....................................................39

ARTICLE SEVEN HOLDERS' LISTS AND REPORTS BY TRUSTEE AND COMPANY..................................................40

   Section 701.          Company to Furnish Trustee Names and Addresses of Holders...............................40
   Section 702.          Preservation of Information; Communications to Holders..................................41
   Section 703.          Reports by Trustee......................................................................41
   Section 704.          Reports by Company......................................................................41

ARTICLE EIGHT CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE...............................................42

   Section 801.          Company May Consolidate, Etc., Only on Certain Terms....................................42
   Section 802.          Successor Substituted...................................................................43
</TABLE>

                                       ii

<PAGE>
<TABLE>
<CAPTION>
                                                                                                               PAGE
<S>                                                                                                            <C>

ARTICLE NINE SUPPLEMENTAL INDENTURES.............................................................................43

   Section 901.          Supplemental Indentures Without Consent of Holders......................................43
   Section 902.          Supplemental Indentures With Consent of Holders.........................................44
   Section 903.          Execution of Supplemental Indentures....................................................45
   Section 904.          Effect of Supplemental Indentures.......................................................45
   Section 905.          Conformity with Trust Indenture Act.....................................................45
   Section 906.          Reference in Securities to Supplemental Indentures......................................45

ARTICLE TEN COVENANTS............................................................................................46

   Section 1001.         Payment of Principal, Premium and Interest..............................................46
   Section 1002.         Maintenance of Office or Agency.........................................................46
   Section 1003.         Money for Securities Payments to be Held in Trust.......................................46
   Section 1004.         Statement by Officers as to Default.....................................................47
   Section 1005.         Existence...............................................................................48
   Section 1006.         Waiver of Certain Covenants.............................................................48
   Section 1007.         Additional Amounts......................................................................48

ARTICLE ELEVEN REDEMPTION OF SECURITIES..........................................................................49

   Section 1101.         Applicability of Article................................................................49
   Section 1102.         Election to Redeem; Notice to Trustee...................................................49
   Section 1103.         Selection by Trustee of Securities to be Redeemed.......................................49
   Section 1104.         Notice of Redemption....................................................................50
   Section 1105.         Deposit of Redemption Price.............................................................51
   Section 1106.         Securities Payable on Redemption Date...................................................51
   Section 1107.         Securities Redeemed in Part.............................................................51
   Section 1108.         Purchase of Securities..................................................................52

ARTICLE TWELVE SINKING FUNDS.....................................................................................52

   Section 1201.         Applicability of Article................................................................52
   Section 1202.         Satisfaction of Sinking Fund Payments with Securities...................................52
   Section 1203.         Redemption of Securities for Sinking Fund...............................................52

ARTICLE THIRTEEN LEGAL DEFEASANCE AND COVENANT DEFEASANCE........................................................53

   Section 1301.         Company's Option to Effect Legal Defeasance or Covenant Defeasance......................53
   Section 1302.         Legal Defeasance and Discharge..........................................................53
   Section 1303.         Covenant Defeasance.....................................................................53
   Section 1304.         Conditions to Legal Defeasance or Covenant Defeasance...................................54
   Section 1305.         Deposited Money and Government Obligations to be Held in Trust; Other
                         Miscellaneous Provisions................................................................55
   Section 1306.         Reinstatement...........................................................................56
   Section 1307.         Deposited Money and Government Obligations to be Held in Trust..........................56

ARTICLE FOURTEEN MEETING OF HOLDERS OF SECURITIES................................................................56

   Section 1401.         Purposes for which Meetings may be Called...............................................56

</TABLE>

                                      iii
<PAGE>

<TABLE>
<CAPTION>
                                                                                                               PAGE
<S>                                                                                                            <C>

   Section 1402.         Call, Notice and Place of Meetings......................................................57
   Section 1403.         Persons Entitled to Vote at Meetings....................................................57
   Section 1404.         Quorum; Action..........................................................................57
   Section 1405.         Determination of Voting Rights; Conduct and Adjournment of Meetings.....................58
   Section 1406.         Counting Votes and Recording Action of Meetings.........................................59

</TABLE>

                                       iv

<PAGE>

         INDENTURE, dated as of _______________, 200__, between Mission
Resources Corporation, a corporation duly organized and existing under the laws
of the State of Delaware (herein called the "COMPANY"), having its principal
office at 1331 Lamar, Suite 1455, Houston, Texas 77010-3039, and The Bank of New
York, a New York banking corporation as Trustee (herein called the "TRUSTEE").

                             RECITALS OF THE COMPANY

         The Company has duly authorized the execution and delivery of this
Indenture to provide for the issuance from time to time of its unsecured
debentures, notes or other evidences of indebtedness (herein called the
"SECURITIES"), which may be convertible into or exchangeable for any securities
of any Persons (including the Company), to be issued in one or more series as in
this Indenture provided.

         All things necessary to make this Indenture a valid and legally binding
agreement of the Company, in accordance with its terms, have been done.

         NOW, THEREFORE, THIS INDENTURE WITNESSETH:

         For and in consideration of the premises and the purchase of the
Securities by the Holders thereof, it is mutually agreed, for the equal and
proportionate benefit of all Holders of the Securities or of series thereof, as
follows:

                                   ARTICLE ONE

                                   DEFINITIONS

         Section 101. Definitions.

         For all purposes of this Indenture, except as otherwise expressly
provided or unless the context otherwise requires:

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

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

                  (3) all accounting terms not otherwise defined herein have the
         meanings assigned to them in accordance with United States generally
         accepted accounting principles; the term "GENERALLY ACCEPTED ACCOUNTING
         PRINCIPLES" with respect to any computation required or permitted
         hereunder shall mean such accounting principles as are generally
         accepted as consistently applied by the Company at the date of such
         computation;

                  (4) unless the context otherwise requires, any reference to an
         "Article", a "Section" or an "Exhibit" refers to an Article, a Section
         or an Exhibit, as the case may be, of or to this Indenture; and

                                       1

<PAGE>

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

         Certain terms, used principally in ARTICLE SIX and ARTICLE THIRTEEN,
are defined in those Articles.

         "ACT", when used with respect to any Holder, has the meaning specified
in SECTION 104.

         "AFFILIATE" of any specified Person means any other Person directly or
indirectly controlling or controlled by or under direct or indirect common
control with such specified Person. For the purposes of this definition,
"control" when used with respect to any specified Person means the power to
direct the management and policies of such Person, directly or indirectly,
whether through the ownership of voting securities, by contract or otherwise;
and the terms "controlling" and "controlled" have meanings correlative to the
foregoing.

         "AUTHENTICATING AGENT" means any Person authorized by the Trustee
pursuant to SECTION 614 to act on behalf of the Trustee to authenticate
Securities of one or more series.

         "AUTHORIZED NEWSPAPER" means a newspaper, in the English language or in
an official language of the country of publication, customarily published on
each Business Day, whether or not published on Saturdays, Sundays or holidays,
and of general circulation in each place in connection with which the term is
used or in the financial community of each such place. Where successive
publications are required to be made in Authorized Newspapers, the successive
publications may be made in the same or in different newspapers in the same city
meeting the foregoing requirements and in each case on any Business Day.

         "BOARD OF DIRECTORS" means either the board of directors of the Company
or any duly authorized committee of that board.

         "BOARD RESOLUTION" means a copy of a resolution certified by the
Secretary or an Assistant Secretary of the Company to have been duly adopted by
the Board of Directors and to be in full force and effect on the date of such
certification, and delivered to the Trustee.

         "BUSINESS DAY", when used with respect to any Place of Payment, means
each Monday, Tuesday, Wednesday, Thursday and Friday that is not a day on which
banking institutions in that Place of Payment are authorized or obligated by law
or executive order to close.

         "COMMISSION" means the United States Securities and Exchange
Commission, from time to time constituted, created under the Exchange Act, or,
if at any time after the execution of this instrument the United States
Securities and Exchange Commission is not existing and performing the duties now
assigned to it under the Trust Indenture Act, then the body performing such
duties at such time.

         "COMPANY" means the Person named as the "COMPANY" in the first
paragraph of this Indenture until a successor Person shall have become such
pursuant to the applicable provisions of this Indenture, and thereafter
"COMPANY" shall mean such successor Person.

                                       2

<PAGE>

         "COMPANY REQUEST" or "COMPANY ORDER" means a written request or order
signed in the name of the Company by its Chairman of the Board, its Vice
Chairman of the Board, its President or a Vice President, and by its Treasurer,
an Assistant Treasurer, its Secretary or an Assistant Secretary, and delivered
to the Trustee.

         "CORPORATE TRUST OFFICE" means the principal office of the Trustee at
which at any particular time its corporate trust business shall be administered,
which as of the date hereof is located at 101 Barclay Street, Floor 8W, New
York, New York 10286, Attention: Corporate Trust Administration.

         "CORPORATION" means a corporation, association, company, joint-stock
company or business trust.

         "COVENANT DEFEASANCE" has the meaning specified in SECTION 1303.

         "DEFAULTED INTEREST" has the meaning specified in SECTION 307.

         "DEPOSITARY" means, with respect to Securities of any series issuable
in whole or in part in the form of one or more Global Securities, a clearing
agency registered under the Exchange Act that is designated to act as Depositary
for such Securities as contemplated by SECTION 301.

         "EVENT OF DEFAULT" has the meaning specified in SECTION 501.

         "EXCHANGE ACT" means the United States Securities Exchange Act of 1934
and any statute successor thereto, in each case as amended from time to time.

         "EXPIRATION DATE" has the meaning specified in SECTION 104.

         "GLOBAL SECURITY" means a Security that evidences all or part of the
Securities of any series and bears the legend set forth in SECTION 202 (or such
legend as may be specified as contemplated by SECTION 301 for such Securities).

         "GOVERNMENT OBLIGATION" has the meaning specified in SECTION 1304.

         "HOLDER" means the Person in whose name the Security is registered in
the Security Register.

         "INDENTURE" means this instrument as originally executed and as it may
from time to time be supplemented or amended by one or more indentures
supplemental hereto entered into pursuant to the applicable provisions hereof,
including, for all purposes of this instrument and any such supplemental
indenture, the provisions of the Trust Indenture Act that are deemed to be a
part of and govern this instrument and any such supplemental indenture,
respectively. The term "INDENTURE" shall also include the terms of particular
series of Securities established as contemplated by SECTION 301.

         "INTEREST", when used with respect to an Original Issue Discount
Security which by its terms bears interest only after Maturity, means interest
payable after Maturity.

                                       3

<PAGE>

         "INTEREST PAYMENT DATE", when used with respect to any Security, means
the Stated Maturity of an installment of interest on such Security.

         "INVESTMENT COMPANY ACT" means the United States Investment Company Act
of 1940 and any statute successor thereto, in each case as amended from time to
time.

         "LEGAL DEFEASANCE" has the meaning specified in SECTION 1302.

         "MATURITY", when used with respect to any Security, means the date on
which the principal of such Security or an installment of principal becomes due
and payable as therein or herein provided, whether at the Stated Maturity or by
declaration of acceleration, call for redemption or otherwise.

         "NOTICE OF DEFAULT" means a written notice of the kind specified in
SECTION 501(4).

         "OFFICERS' CERTIFICATE" means a certificate signed by the Chairman of
the Board, a Vice Chairman of the Board, the President or a Vice President, and
by the Treasurer, an Assistant Treasurer, the Secretary or an Assistant
Secretary, of the Company, and delivered to the Trustee. One of the officers
signing an Officers' Certificate given pursuant to SECTION 1004 shall be the
principal executive, financial or accounting officer of the Company.

         "OPINION OF COUNSEL" means a written opinion of counsel, who may be
counsel for or an employee of the Company.

         "ORIGINAL ISSUE DISCOUNT SECURITY" means any Security which provides
for an amount less than the principal amount thereof to be due and payable upon
a declaration of acceleration of the Maturity thereof pursuant to SECTION 502.

         "OUTSTANDING", when used with respect to Securities, means, as of the
date of determination, all Securities theretofore authenticated and delivered
under this Indenture, except:

                  (1) Securities theretofore cancelled by the Trustee or
         delivered to the Trustee for cancellation;

                  (2) Securities for whose payment or redemption money in the
         necessary amount has been theretofore deposited with the Trustee or any
         Paying Agent (other than the Company) in trust or set aside and
         segregated in trust by the Company (if the Company shall act as its own
         Paying Agent) for the Holders of such Securities; provided that, if
         such Securities are to be redeemed, notice of such redemption has been
         duly given pursuant to this Indenture or provision therefor
         satisfactory to the Trustee has been made;

                  (3) Securities as to which legal defeasance has been effected
         pursuant to SECTION 1302; and

                  (4) Securities that have been paid pursuant to SECTION 1001 or
         in exchange for or in lieu of which other Securities have been
         authenticated and delivered pursuant to this Indenture, other than any
         such Securities in respect of which there shall have been presented to
         the Trustee proof satisfactory to it that such Securities are held by a
         bona

                                       4
<PAGE>

         fide purchaser in whose hands such Securities are valid obligations of
         the Company; provided, however, that in determining whether the Holders
         of the requisite principal amount of the Outstanding Securities have
         given, made or taken any request, demand, authorization, direction,
         notice, consent, waiver, or other action hereunder as of any date or
         whether a quorum is present at a meeting of Holders of Securities, (A)
         the principal amount of an Original Issue Discount Security which shall
         be deemed to be Outstanding shall be the amount of the principal
         thereof that would be due and payable as of such date upon acceleration
         of the Maturity thereof to such date pursuant to SECTION 502, (B) if,
         as of such date, the principal amount payable at the Stated Maturity of
         a Security is not determinable, the principal amount of such Security
         that shall be deemed to be Outstanding shall be the amount as specified
         or determined as contemplated by SECTION 301, (C) the principal amount
         of a Security denominated in one or more foreign currencies or currency
         units which shall be deemed to be Outstanding shall be the U.S. dollar
         equivalent, determined as of such date in the manner provided as
         contemplated by SECTION 301, of the principal amount of such Security
         (or, in the case of a Security described in clause (A) or (B) above, of
         the amount determined as provided in such clause), and (D) Securities
         owned by the Company or any other obligor upon the Securities or any
         Affiliate of the Company or of such other obligor shall be disregarded
         and deemed not to be Outstanding, except that, in determining whether
         the Trustee shall be protected in relying upon any such request,
         demand, authorization, direction, notice, consent, waiver, or other
         action, or upon any such determination as to the presence of a quorum,
         only Securities that a Responsible Officer of the Trustee actually
         knows to be so owned shall be so disregarded. Securities so owned that
         have been pledged in good faith may be regarded as Outstanding if the
         pledgee establishes to the satisfaction of the Trustee the pledgee's
         right so to act with respect to such Securities and that the pledgee is
         not the Company or any other obligor upon the Securities or any
         Affiliate of the Company or of such other obligor.

         "PAYING AGENT" means any Person, which may include the Company,
authorized by the Company to pay the principal of or any premium or interest on
any Securities on behalf of the Company.

         "PERSON" means any individual, corporation, partnership, limited
liability company, joint venture, trust, unincorporated organization or
government or any agency or political subdivision thereof.

         "PLACE OF PAYMENT", when used with respect to the Securities of any
series, means the place or places specified in accordance with SECTION 301 where
the principal of and any premium and interest on the Securities of that series
are payable.

         "PREDECESSOR SECURITY" of any particular Security means every previous
Security evidencing all or a portion of the same debt as that evidenced by such
particular Security; and, for the purposes of this definition, any Security
authenticated and delivered under SECTION 306 in exchange for or in lieu of a
mutilated, destroyed, lost or stolen Security shall be deemed to evidence the
same debt as the mutilated, destroyed, lost or stolen Security.

                                       5

<PAGE>

         "REDEMPTION DATE", when used with respect to any Security to be
redeemed, means the date fixed for such redemption by or pursuant to this
Indenture.

         "REDEMPTION PRICE", when used with respect to any Security to be
redeemed, means the price at which it is to be redeemed pursuant to this
Indenture.

         "REGULAR RECORD DATE" for the interest payable on any Interest Payment
Date on the Securities of any series means the date specified for that purpose
as contemplated by SECTION 301.

         "RESPONSIBLE OFFICER", when used with respect to the Trustee, means any
vice president, any assistant treasurer, any trust officer or assistant trust
officer or any other officer of the Trustee customarily performing functions
similar to those performed by any of the above designated officers and also
means, with respect to a particular corporate trust matter, any other officer to
whom such matter is referred because of his or her knowledge of and familiarity
with the particular subject and who shall have responsibility for the
administration of this Indenture.

         "SECURITIES" has the meaning stated in the first recital of this
Indenture and more particularly means any Securities authenticated and delivered
under this Indenture provided, however, that if at any time there is more than
one Person acting as Trustee under this Indenture, "Securities" with respect to
the Indenture as to which such Person is Trustee shall have the meaning stated
in the first recital of this Indenture and shall more particularly mean
Securities authenticated and delivered under this Indenture, exclusive, however,
of Securities of any series as to which such Person is not Trustee.

         "SECURITIES ACT" means the United States Securities Act of 1933 and any
statute successor thereto, in each case as amended from time to time.

         "SECURITY REGISTER" and "SECURITY REGISTRAR" have the respective
meanings specified in SECTION 305.

         "SPECIAL RECORD DATE" for the payment of any Defaulted Interest means a
date fixed by the Trustee pursuant to SECTION 307.

         "STATED MATURITY", when used with respect to any Security or any
installment of principal thereof or interest thereon, means the date specified
in such Security as the fixed date on which the principal of such Security or
such installment of principal or interest is due and payable.

         "SUBSIDIARY" means a corporation, limited liability company, limited
partnership, or other entity more than 50% of the outstanding voting stock of
which is owned, directly or indirectly, by the Company or by one or more other
Subsidiaries, or by the Company and one or more other Subsidiaries. For the
purposes of this definition, "voting stock" means the equity interest that
ordinarily has voting power for the election of directors, managers, trustees or
general partners of an entity, or persons performing similar functions, whether
at all times or only so long as no senior class of equity interest has such
voting power by reason of any contingency.

         "TRUST INDENTURE ACT" means the United States Trust Indenture Act of
1939 as in force at the date as of which this instrument was executed; provided,
however, that in the event the Trust

                                       6

<PAGE>

Indenture Act of 1939 is amended after such date, "TRUST INDENTURE ACT" means,
to the extent required by any such amendment, the Trust Indenture Act of 1939 as
so amended.

         "TRUSTEE" means the Person named as the "TRUSTEE" in the first
paragraph of this instrument until a successor Trustee shall have become such
pursuant to the applicable provisions of this Indenture, and thereafter
"Trustee" shall mean or include each Person who is then a Trustee hereunder, and
if at any time there is more than one such Person, "Trustee" as used with
respect to the Securities of any series shall mean the Trustee with respect to
Securities of that series.

         "UNITED STATES ALIEN" means any Person who, for United States Federal
income tax purposes, is a foreign corporation, a non-resident alien individual,
a non-resident alien fiduciary of a foreign estate or trust, or a foreign
partnership one or more of the members of which is, for United States Federal
income tax purposes, a foreign corporation, a non-resident alien individual or a
non-resident alien fiduciary of a foreign estate or trust.

         "VICE PRESIDENT", when used with respect to the Company or the Trustee,
means any vice president, whether or not designated by a number or a word or
words added before or after the title "VICE PRESIDENt".

         Section 102. Compliance Certificates and Opinions.

         Upon any application or request by the Company to the Trustee to take
any action under any provision of this Indenture, the Company shall furnish to
the Trustee such certificates and opinions as may be required under the Trust
Indenture Act. Each such certificate or opinion shall be given in the form of an
Officers' Certificate, if to be given by an officer of the Company, or an
Opinion of Counsel, if to be given by counsel, and shall comply with the
requirements of the Trust Indenture Act and any other requirements set forth in
this Indenture.

         Every certificate or opinion with respect to compliance with a
condition or covenant provided for in this Indenture (except for certificates
provided for in SECTION 1004) shall include,

                  (1) a statement that each individual signing such certificate
         or opinion has read such covenant or condition and the definitions
         herein relating thereto;

                  (2) a brief statement as to the nature and scope of the
         examination or investigation upon which the statements or opinions
         contained in such certificate or opinion are based;

                  (3) a statement that, in the opinion of each such individual,
         he has made such examination or investigation as is necessary to enable
         him to express an informed opinion as to whether or not such covenant
         or condition has been complied with; and

                  (4) a statement as to whether, in the opinion of each such
         individual, such condition or covenant has been complied with.

                                       7
<PAGE>

         Section 103. Form of Documents Delivered to Trustee.

         In any case where several matters are required to be certified by, or
covered by an opinion of, any specified Person, it is not necessary that all
such matters be certified by, or covered by the opinion of, only one such
Person, or that they be so certified or covered by only one document, but one
such Person may certify or give an opinion with respect to some matters and one
or more other such Persons as to other matters, and any such Person may certify
or give an opinion as to such matters in one or several documents.

         Any certificate or opinion of an officer of the Company may be based,
insofar as it relates to legal matters, upon a certificate or opinion of, or
representations by, counsel, unless such officer knows, or in the exercise of
reasonable care should know, that the certificate or opinion or representations
with respect to the matters upon which his certificate or opinion is based are
erroneous. Any such certificate or opinion of counsel may be based, insofar as
it relates to factual matters, upon a certificate or opinion of, or
representations by, an officer or officers of the Company stating that the
information with respect to such factual matters is in the possession of the
Company, unless such counsel knows, or in the exercise of reasonable care should
know, that the certificate or opinion or representations with respect to such
matters are erroneous.

         Where any Person is required to make, give or execute two or more
applications, requests, consents, certificates, statements, opinions or other
instruments under this Indenture, they may, but need not, be consolidated and
form one instrument.

         Section 104. Acts of Holders; Record Dates.

         Any request, demand, authorization, direction, notice, consent, waiver
or other action provided or permitted by this Indenture to be given, made or
taken by Holders may be embodied in and evidenced by one or more instruments of
substantially similar tenor signed by such Holders in person or by agent duly
appointed in writing. Except as herein otherwise expressly provided, such action
shall become effective when such instrument or instruments are delivered to the
Trustee and, where it is hereby expressly required, to the Company. Such
instrument or instruments (and the action embodied therein and evidenced
thereby) are herein sometimes referred to as the "ACT" of the Holders signing
such instrument or instruments, and shall be sufficient for any purpose of this
Indenture and (subject to SECTION 601) conclusive in favor of the Trustee and
the Company, if made in the manner provided in this Section.

         The fact and date of the execution by any Person of any such instrument
or writing may be proved by the affidavit of a witness of such execution or by a
certificate of a notary public or other officer authorized by law to take
acknowledgments of deeds, certifying that the individual signing such instrument
or writing acknowledged to him the execution thereof. Where such execution is by
a signer acting in a capacity other than his individual capacity, such
certificate or affidavit shall also constitute sufficient proof of his
authority. The fact and date of the execution of any such instrument or writing,
or the authority of the Person executing the same, may also be proved in any
other manner which the Trustee deems sufficient.

         The principal amount and serial numbers of Securities held by any
Person, and the date of holding the same, shall be proved by the Security
Register.

                                       8

<PAGE>

         Any request, demand, authorization, direction, notice, consent, waiver
or other Act of the Holder of any Security shall bind every future Holder of the
same Security and the Holder of every Security issued upon the registration of
transfer thereof or in exchange therefor or in lieu thereof in respect of
anything done, omitted or suffered to be done by the Trustee or the Company in
reliance thereon, whether or not notation of such action is made upon such
Security.

         The Company may set any day as a record date for the purpose of
determining the Holders of Outstanding Securities of any series entitled to
give, make or take any request, demand, authorization, direction, notice,
consent, waiver or other action provided or permitted by this Indenture to be
given, made or taken by Holders of Securities of such series, provided, that the
Company may not set a record date for, and the provisions of this paragraph
shall not apply with respect to, the giving or making of any notice,
declaration, request or direction referred to in the next paragraph. If any
record date is set pursuant to this paragraph, the Holders of Outstanding
Securities of the relevant series on such record date, and no other Holders,
shall be entitled to take the relevant action, whether or not such Holders
remain Holders after such record date; provided, that no such action shall be
effective hereunder unless taken on or prior to the applicable Expiration Date
by Holders of the requisite principal amount of Outstanding Securities of such
series on such record date. Nothing in this paragraph shall be construed to
prevent the Company from setting a new record date for any action for which a
record date has previously been set pursuant to this paragraph (whereupon the
record date previously set shall automatically and with no action by any Person
be cancelled and of no effect), and nothing in this paragraph shall be construed
to render ineffective any action taken by Holders of the requisite principal
amount of Outstanding Securities of the relevant series on the date such action
is taken. Promptly after any record date is set pursuant to this paragraph, the
Company, at its own expense, shall cause notice of such record date, the
proposed action by Holders and the applicable Expiration Date to be given to the
Trustee in writing and to each Holder of Securities of the relevant series in
the manner set forth in SECTION 106.

         The Trustee may set any day as a record date for the purpose of
determining the Holders of Outstanding Securities of any series entitled to join
in the giving or making of (i) any Notice of Default, (ii) any declaration of
acceleration referred to in SECTION 502, (iii) any request to institute
proceedings referred to in SECTION 507(2) or (iv) any direction referred to in
SECTION 512, in each case with respect to Securities of such series. If any
record date is set pursuant to this paragraph, the Holders of Outstanding
Securities of such series on such record date, and no other Holders, shall be
entitled to join in such notice, declaration, request or direction, whether or
not such Holders remain Holders after such record date; provided, that no such
action shall be effective hereunder unless taken on or prior to the applicable
Expiration Date by Holders of the requisite principal amount of Outstanding
Securities of such series on such record date. Nothing in this paragraph shall
be construed to prevent the Trustee from setting a new record date for any
action for which a record date has previously been set pursuant to this
paragraph (whereupon the record date previously set shall automatically and with
no action by any Person be cancelled and of no effect), and nothing in this
paragraph shall be construed to render ineffective any action taken by Holders
of the requisite principal amount of Outstanding Securities of the relevant
series on the date such action is taken. Promptly after any record date is set
pursuant to this paragraph, the Trustee, at the Company's expense, shall cause
notice of such record date, the proposed action by Holders and the applicable
Expiration Date to be given to the

                                       9

<PAGE>

Company in writing and to each Holder of Securities of the relevant series in
the manner set forth in SECTION 106.

         With respect to any record date set pursuant to this Section, the party
hereto that sets such record date may designate any day as the "EXPIRATION DATE"
and from time to time may change the Expiration Date to any earlier or later
day; provided that no such change shall be effective unless notice of the
proposed new Expiration Date is given to the other party hereto in writing, and
to each Holder of Securities of the relevant series in the manner set forth in
SECTION 106, on or prior to the existing Expiration Date. If an Expiration Date
is not designated with respect to any record date set pursuant to this Section,
the party hereto that set such record date shall be deemed to have initially
designated the 180th day after such record date as the Expiration Date with
respect thereto, subject to its right to change the Expiration Date as provided
in this paragraph.

         Without limiting the foregoing, a Holder entitled hereunder to take any
action hereunder with regard to any particular Security may do so with regard to
all or any part of the principal amount of such Security or by one or more duly
appointed agents each of which may do so pursuant to such appointment with
regard to all or any part of such principal amount.

         Section 105. Notices, Etc., to Trustee and Company.

         Any request, demand, authorization, direction, notice, consent, waiver
or Act of Holders or other document provided or permitted by this Indenture to
be made upon, given or furnished to, or filed with,

                  (1) the Trustee by any Holder or by the Company shall be
         sufficient for every purpose hereunder if made, given, furnished or
         filed in writing (which may be via facsimile) to or with the Trustee at
         its Corporate Trust Office, Attention: Corporate Trust Administration,
         or

                  (2) the Company by the Trustee or by any Holder shall be
         sufficient for every purpose hereunder (unless otherwise herein
         expressly provided) if in writing and mailed, first-class postage
         prepaid, to the Company addressed to it at the address of its principal
         office specified in the first paragraph of this instrument, Attention:
         Chief Financial Officer, or at any other address previously furnished
         in writing to the Trustee by the Company.

         Section 106. Notice to Holders; Waiver.

         Except as otherwise expressly provided herein, where this Indenture
provides for notice of any event to Holders of Securities, such notice shall be
sufficiently given to Holders of Securities if in writing and mailed,
first-class postage prepaid, to each Holder of a Security affected by such
event, at the address of such Holder as it appears in the Security Register, not
later than the latest date (if any), and not earlier than the earliest date (if
any), prescribed for the giving of such notice.

         In case by reason of the suspension of regular mail service or by
reason of any other cause it shall be impracticable to give such notice to
Holders of Securities by mail, then such

                                       10

<PAGE>

notification as shall be made with the approval of the Trustee shall constitute
a sufficient notification for every purpose hereunder. In any case where notice
to Holders of Securities is given by mail, neither the failure to mail such
notice, nor any defect in any notice so mailed, to any particular Holder of a
Security shall affect the sufficiency of such notice with respect to other
Holders.

         Where this Indenture provides for notice in any manner, such notice may
be waived in writing by the Person entitled to receive such notice either before
or after the event, and such waiver shall be the equivalent of such notice.
Waivers of notice by Holders of Securities shall be filed with the Trustee, but
such filing shall not be a condition precedent to the validity of any action
taken in reliance upon such waiver.

         Section 107. Conflict with Trust Indenture Act.

         This Indenture shall incorporate and be governed by the provisions of
the Trust Indenture Act that are required to be part of and to govern indentures
qualified under the Trust Indenture Act. If any provision hereof limits,
qualifies or conflicts with a provision of the Trust Indenture Act that is
required under such Act to be a part of and govern this Indenture, the latter
provision shall control. If any provision of this Indenture modifies or excludes
any provision of the Trust Indenture Act that may be so modified or excluded,
the former provision shall be deemed to apply to this Indenture as so modified
or to be excluded, as the case may be.

         Section 108. Effect of Headings and Table of Contents.

         The Article and Section headings herein and the Table of Contents are
for convenience only and shall not affect the construction hereof.

         Section 109. Successors and Assigns.

         All covenants and agreements in this Indenture by the Company shall
bind its successors and assigns, whether so expressed or not.

         Section 110. Separability Clause.

         In case any provision in this Indenture or in the Securities shall be
invalid, illegal or unenforceable, the validity, legality and enforceability of
the remaining provisions shall not in any way be affected or impaired thereby.

         Section 111. Benefits of Indenture.

         Nothing in this Indenture or in the Securities, express or implied,
shall give to any Person, other than the parties hereto and their successors
hereunder, and the Holders of Securities, any benefit or any legal or equitable
right, remedy or claim under this Indenture.

         Section 112. Governing Law.

         This Indenture and the Securities shall be governed by and construed in
accordance with the law of the State of New York.

                                       11
<PAGE>

         Section 113. Legal Holidays.

         In any case where any Interest Payment Date, Redemption Date or Stated
Maturity of any Security shall not be a Business Day at any Place of Payment,
then (notwithstanding any other provision of this Indenture or of the Securities
(other than a provision of any Security which specifically states that such
provision shall apply in lieu of this Section)) payment of interest or principal
(and premium, if any) need not be made at such Place of Payment on such date,
but may be made on the next succeeding Business Day at such Place of Payment
with the same force and effect as if made on the Interest Payment Date or
Redemption Date, or at the Stated Maturity.

         Section 114. Language of Notices, Etc.

         Any request, demand, authorization, direction, notice, consent or
waiver required or permitted under this Indenture shall be in the English
language, except that any published notice may be in an official language of the
country of publication.

         Section 115. Submission to Jurisdiction.

         The Company irrevocably submits to the non-exclusive jurisdiction of
any federal or state court in the City, County and State of New York, United
States, and any appellate court from any thereof, in any legal suit, action or
proceeding based on or arising under the Securities or this Indenture and agrees
that all claims in respect of such suit or proceeding may be determined in any
such court. The Company irrevocably waives to the fullest extent permitted by
law, any objection to any such suit, including actions, suits or proceedings
relating to the securities laws of the United States of America or any state
thereof, in such courts whether on the grounds of venue, residence or domicile
or the defense of an inconvenient forum or objections to personal jurisdiction
with respect to the maintenance of such legal suit, action or proceeding. The
Company agrees that the final judgment in any such suit, action or proceeding
brought in such court shall be conclusive and binding upon the Company and may
be enforced in any court to the jurisdiction of which the Company is subject by
a suit upon such judgment.

         Section 116. Corporate Obligation.

         No recourse may be taken, directly or indirectly, against any
incorporator, subscriber to the capital stock, stockholder, officer, director or
employee of the Company or the Trustee or of any predecessor or successor of the
Company or the Trustee with respect to the Company's obligations on the
Securities or the obligations of the Company or the Trustee under this Indenture
or any certificate or other writing delivered in connection herewith.

                                   ARTICLE TWO

                                 SECURITY FORMS

         Section 201. Forms Generally.

         The Securities of each series shall be in substantially the form of
forms as shall be established by or pursuant to a Board Resolution or in one or
more indentures supplemental

                                       12
<PAGE>

hereto, in each case with such appropriate insertions, omissions, substitutions
and other variations as are required or permitted by this Indenture, and may
have such letters, numbers or other marks of identification and such legends or
endorsements placed thereon as may be required to comply with the rules of any
securities exchange or Depositary therefor or as may, consistently herewith, be
determined by the officers executing such Securities as evidenced by their
execution thereof. If the form of Securities of any series is established by
action taken pursuant to a Board Resolution, a copy of an appropriate record of
such action shall be certified by the Secretary or an Assistant Secretary of the
Company and delivered to the Trustee at or prior to the delivery of the Company
Order contemplated by SECTION 303 for the authentication and delivery of such
Securities (or any such temporary global Security).

         The definitive Securities shall be printed, lithographed or engraved on
steel engraved borders or may be produced in any other manner, all as determined
by the officers executing such Securities, as evidenced by their execution of
such Securities.

         Section 202. Form of Legend for Global Securities.

         Unless otherwise specified as contemplated by SECTION 301 for the
Securities evidenced thereby, every Global Security authenticated and delivered
hereunder shall bear a legend in substantially the following form:

         THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE
HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A
NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A
SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE
REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE
THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.

         Section 203. Form of Trustee's Certificate of Authentication.

         The Trustee's certificates of authentication shall be in substantially
the following form:

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

                                      The Bank of New York,
                                      As Trustee

                                      By:
                                          -------------------------------------
                                              Authorized Signatory
Dated:                      "
       ---------------------

                                       13
<PAGE>

         Section 204. Securities in Global Form.

         If Securities of or within a series are issuable in global form, as
specified as contemplated by SECTION 301, then any such Security shall represent
such of the Outstanding Securities of such series as shall be specified therein
and may provide that it shall represent the aggregate amount of Outstanding
Securities from time to time endorsed thereon and that the aggregate amount of
Outstanding Securities represented thereby may from time to time be reduced to
reflect exchanges. Any endorsement of a Security in global form to reflect the
amount, or any increase or decrease in the amount, of Outstanding Securities
represented thereby shall be made by the Trustee in such manner and upon
instructions given by such Person or Persons as shall be specified therein or in
the Company Order to be delivered to the Trustee pursuant to SECTION 303 or
SECTION 304. Subject to the provisions of SECTION 303 and, if applicable,
SECTION 304, the Trustee shall deliver and redeliver any Security in permanent
global form in the manner and upon instructions given by the Person or Persons
specified therein or in the applicable Company Order. If a Company Order
pursuant to SECTION 303 or SECTION 304 has been, or simultaneously is,
delivered, any instructions by the Company with respect to endorsement or
delivery or redelivery of a Security in global form shall be in writing but need
not comply with SECTION 102 and need not be accompanied by an Opinion of
Counsel.

         The provisions of the last sentence of SECTION 303 shall apply to any
Security represented by a Security in global form if such Security was never
issued and sold by the Company and the Company delivers to the Trustee the
Security in global from together with written instructions (which need not
comply with SECTION 102 and need not be accompanied by an Opinion of Counsel)
with regard to the reduction in the principal amount of Securities represented
thereby, together with the written statement contemplated by the last sentence
of SECTION 303.

         Notwithstanding the provisions of SECTION 307, unless otherwise
specified as contemplated by Section 301, payment of principal of and any
premium and interest on any Security in permanent global form shall be made to
the Person or Persons specified therein.

                                  ARTICLE THREE

                                 THE SECURITIES

         Section 301. Amount Unlimited; Issuable In Series.

         The aggregate principal amount of Securities which may be authenticated
and delivered under this Indenture is unlimited.

         The Securities may be issued in one or more series. There shall be
established in or pursuant to a Board Resolution and, subject to SECTION 303,
set forth, or determined in the manner provided, in an Officers' Certificate, or
established in one or more indentures supplemental hereto, prior to the issuance
of Securities of any series,

                  (1) the title of the Securities of the series, including CUSIP
         numbers, if applicable (which shall distinguish the Securities of the
         series from Securities of any other series);

                                       14

<PAGE>

                  (2) any limit upon the aggregate principal amount of the
         Securities of the series which may be authenticated and delivered under
         this Indenture (except for Securities authenticated and delivered upon
         registration of transfer of, or in exchange for, or in lieu of, other
         Securities of the series pursuant to SECTION 304, 305, 306, 906 OR 1107
         and except for any Securities which, pursuant to SECTION 303, are
         deemed never to have been authenticated and delivered hereunder);

                  (3) the Trustees, Authenticating Agents, Paying Agents,
         Security Registrars or other agents with respect to the series;

                  (4) the Person to whom any interest on any Security of the
         series shall be payable, if other than the Person in whose name that
         Security (or one or more Predecessor Securities) is registered at the
         close of business on the Regular Record Date for such interest, the
         extent to which, or the manner in which, any interest payable on a
         temporary global Security on an Interest Payment Date will be paid if
         other than in the manner provided in SECTION 304;

                  (5) the date or dates on which the principal of the Securities
         of the series is payable;

                  (6) the ability to issue additional Securities in the same
         series;

                  (7) the price or prices at which the Securities will be sold;

                  (8) the right, if any, to extend the interest payment periods
         and the duration of any such deferral period, including the maximum
         consecutive period during which interest payment periods may be
         extended;

                  (9) provisions, if any, granting special rights to holders of
         the Securities upon the occurrence of specified events;

                  (10) the terms, if any, upon which Holders may convert or
         exchange (or upon which the Company may require Holders to convert or
         exchange) the Securities of the series into or for the common stock,
         preferred stock or other securities or property of the Company or of
         another Person (or upon which the Securities of the series shall
         automatically convert or be exchanged into or for such other securities
         or property);

                  (11) the rate or rates at which the Securities of the series
         shall bear interest, if any, which may be fixed or variable, or the
         method by which such rate shall be determined, the date or dates from
         which any such interest shall accrue, or the method by which such date
         or dates will be determined, the Interest Payment Dates on which any
         such interest shall be payable, and the Regular Record Date for the
         interest payable on any Securities on any Interest Payment Date;

                  (12) in the case of Original Issue Discount Securities, the
         rate of accretion of principal, which may be fixed or variable, or the
         method of determining such rate, and the date or dates from which
         principal will accrete or the method by which such date or dates will
         be determined;

                                       15
<PAGE>

                  (13) the place or places where, subject to the provisions of
         SECTION 1002, the principal of and any premium, if any, and interest,
         if any, on Securities of the series shall be payable, where any
         Securities of the series may be surrendered for registration of
         transfer, where Securities of the series may be surrendered for
         exchange, where Securities of the series that are convertible or
         exchangeable may be surrendered for conversion or exchange, as
         applicable, and notices and demands to or upon the Company in respect
         of the Securities of the series and this Indenture may be served;

                  (14) the period or periods within which, the price or prices
         at which and the terms and conditions upon which any Securities of the
         series may be redeemed, in whole or in part at the option of the
         Company and, if other than by a Board Resolution, the manner in which
         any election by the Company to redeem the Securities shall be
         evidenced;

                  (15) the obligation, if any, of the Company to redeem or
         purchase any Securities of the series pursuant to any sinking fund or
         analogous provisions or at the option of the Holders thereof and the
         period or periods within which, the price or prices at which and the
         terms and conditions upon which any Securities of the series shall be
         redeemed, repaid or purchased, in whole or in part, pursuant to such
         obligation;

                  (16) if other than denominations of $1,000 and any integral
         multiple thereof, the denominations in which any Securities of the
         series shall be issuable;

                  (17) whether the amount of payments of principal (or premium,
         if any) or interest, if any, on the Securities of the series may be
         determined with reference to an index, formula or other method (which
         index, formula or method may be based, without limitation, on one or
         more currencies, commodities, equity indices or other indices), and the
         manner in which such amounts shall be determined;

                  (18) the currency or currencies, including currency units or
         composite currencies, in which payment of the principal of and any
         premium and interest on any Securities of the series shall be payable
         if other than the currency of the United States of America and the
         manner of determining the equivalent thereof in the currency of the
         United States of America for purposes of the definition of
         "OUTSTANDING" in SECTION 101;

                  (19) if the principal of or any premium or interest on any
         Securities of the series is to be payable, at the election of the
         Company or the Holder thereof, in one or more currencies or currency
         units other than that or those in which such Securities are stated to
         be payable, the currency, currencies or currency units in which the
         principal of or any premium or interest on such Securities as to which
         such election is made shall be payable, the periods within which and
         the terms and conditions upon which such election is to be made and the
         amount so payable (or the manner in which such amount shall be
         determined);

                  (20) if other than the entire principal amount thereof, the
         portion of the principal amount of any Securities of the series which
         shall be payable upon declaration of acceleration of the Maturity
         thereof pursuant to SECTION 502;

                                       16
<PAGE>

                  (21) the collateral, if any, securing the Securities of the
         series, and the guarantors, if any, who will guarantee the Securities
         of the series, or the methods of determining such collateral, if any,
         and such guarantors, if any;

                  (22) whether the amount of principal, premium, if any, and
         interest on the Securities of the series may be determined by reference
         to an index, formula or other method, such as one or more currencies,
         commodities, equity indices or other indices, and the manner in which
         such amounts shall be determined;

                  (23) if the principal amount payable at the Stated Maturity of
         any Securities of the series will not be determinable as of any one or
         more dates prior to the Stated Maturity, the amount which shall be
         deemed to be the principal amount of such Securities as of any such
         date for any purpose thereunder or hereunder, including the principal
         amount thereof which shall be due and payable upon any Maturity other
         than the Stated Maturity or which shall be deemed to be Outstanding as
         of any date prior to the Stated Maturity (or, in any such case, the
         manner in which such amount deemed to be the principal amount shall be
         determined);

                  (24) if applicable, that the Securities of the series, in
         whole or any specified part, shall be defeasible pursuant to SECTION
         1302 OR SECTION 1303 or both such Sections and, if other than by a
         Board Resolution, the manner in which any election by the Company to
         defease such Securities shall be evidenced;

                  (25) if applicable, that any Securities of the series shall be
         issuable in whole or in part in the form of one or more Global
         Securities and, in such case, the respective Depositaries for such
         Global Securities, the form of any legend or legends which shall be
         borne by any such Global Security in addition to or in lieu of that set
         forth in SECTION 202 and any circumstances in addition to or in lieu of
         those set forth in the legend set forth in SECTION 202 in which any
         such Global Security may be exchanged in whole or in part for
         Securities registered, and any transfer of such Global Security in
         whole or in part may be registered in the name or names of Persons
         other than the Depositary for such Global Security or a nominee
         thereof;

                  (26) any addition to or change in the Events of Default which
         apply to any Securities of the series and any change in the right of
         the Trustee or the requisite Holders of such Securities to declare the
         principal amount thereof due and payable pursuant to SECTION 502;

                  (27) any addition to or change in the covenants set forth in
         ARTICLE TEN which applies to Securities of the series, including any
         limitation on the Company's ability to incur debt, redeem stock or sell
         its assets;

                  (28) whether, under what circumstances and the currency in
         which the Company will pay additional amounts as contemplated by
         SECTION 1007 on the Securities of the series to any Holder who is not a
         United States Person(s) (including any modification to the definition
         of such term) in respect of any tax, assessment or governmental charge
         and, if so, whether the Company will have the option to redeem

                                       17
<PAGE>

         such Securities rather than pay such additional amounts (and the terms
         of any such option);

                  (29) provisions, if any, granting special rights to holders of
         Securities of the series upon the occurrence of specified events; and

                  (30) any other terms of the series (which terms shall not be
         inconsistent with the provisions of this Indenture, except as permitted
         by SECTION 901 OR 902).

All Securities of such series shall be substantially identical except as to
denomination and except as may otherwise be provided in or pursuant to the Board
Resolution or supplemental indenture referred to above and (subject to SECTION
303) set forth, or determined in the manner provided, in the Officers'
Certificate referred to above or in any such indenture supplemental hereto. If
any of the terms of the series are established by action taken pursuant to a
Board Resolution, a copy of an appropriate record of such action shall be
certified by the Secretary or an Assistant Secretary of the Company and
delivered to the Trustee at or prior to the delivery of the Officers'
Certificate setting forth the terms of the series.

         Section 302. Denominations.

         Unless otherwise provided as contemplated by SECTION 301 with respect
to the Securities of any series, any Securities of such series, other than
Securities issued in global form (which may be of any denomination), shall be
issuable in denominations of $1,000 and any integral multiple thereof.

         Section 303. Execution, Authentication, Delivery and Dating.

         The Securities shall be executed on behalf of the Company by its
Chairman of the Board, its Vice Chairman of the Board, its President or one of
its Vice Presidents, attested by its Secretary or one of its Assistant
Secretaries. The signature of any of these officers on the Securities may be
manual or facsimile.

         Securities bearing the manual or facsimile signatures of individuals
who were at any time the proper officers of the Company shall bind the Company,
notwithstanding that such individuals or any of them have ceased to hold such
offices prior to the authentication and delivery of such Securities or did not
hold such offices at the date of such Securities.

         At any time and from time to time after the execution and delivery of
this Indenture, the Company may deliver Securities of any series executed by the
Company to the Trustee for authentication, together with a Company Order for the
authentication and delivery of such Securities, and the Trustee in accordance
with the Company Order shall authenticate and deliver such Securities. If the
forms or terms of the Securities of the series have been established by or
pursuant to one or more Board Resolutions as permitted by SECTIONS 201 AND 301,
in authenticating such Securities, and accepting the additional responsibilities
under this Indenture in relation to such Securities, the Trustee shall be
entitled to receive, and (subject to SECTION 601) shall be fully protected in
relying upon, an Opinion of Counsel stating,

                                       18
<PAGE>

                  (1) if the forms of such Securities have been established by
         or pursuant to Board Resolution as permitted by SECTION 201, that such
         forms have been established in conformity with the provisions of this
         Indenture;

                  (2) if the terms of such Securities have been established by
         or pursuant to Board Resolution as permitted by SECTION 301, that such
         terms have been established in conformity with the provisions of this
         Indenture; and

                  (3) that such Securities when authenticated and delivered by
         the Trustee and issued by the Company in the manner and subject to any
         conditions specified in such Opinion of Counsel, will constitute valid
         and legally binding obligations of the Company enforceable in
         accordance with their terms, subject to bankruptcy, insolvency,
         fraudulent transfer, reorganization, moratorium and similar laws of
         general applicability relating to or affecting creditors' rights and to
         general principles of equity.

The Trustee shall not be required to authenticate such Securities if the issue
of such Securities pursuant to this Indenture will affect the Trustee's own
rights, duties or immunities under the Securities and this Indenture or
otherwise in a manner that is not reasonably acceptable to the Trustee.

         Notwithstanding the provisions of SECTION 301 and of the two preceding
paragraphs, if all Securities of a series are not to be originally issued at one
time, it shall not be necessary to deliver the Officers' Certificate otherwise
required pursuant to SECTION 301 or the Company Order and Opinion of Counsel
otherwise required pursuant to such preceding paragraphs at or prior to the
authentication of each Security of such series if such documents are delivered
at or prior to the authentication upon original issuance of the first Security
of such series to be issued.

         Each Security shall be dated the date of its authentication.

         No Security shall be entitled to any benefit under this Indenture or be
valid or obligatory for any purpose unless there appears on such Security a
certificate of authentication substantially in the form provided for herein
executed by the Trustee by manual signature, and such certificate upon any
Security shall be conclusive evidence, and the only evidence, that such Security
has been duly authenticated and delivered hereunder. Notwithstanding the
foregoing, if any Security shall have been authenticated and delivered hereunder
but never issued and sold by the Company, and the Company shall deliver such
Security to the Trustee for cancellation as provided in SECTION 309, for all
purposes of this Indenture such Security shall be deemed never to have been
authenticated and delivered hereunder and shall never be entitled to the
benefits of this Indenture.

         Section 304. Temporary Securities.

         Pending the preparation of definitive Securities of any series, the
Company may execute, and upon Company Order the Trustee shall authenticate and
deliver, temporary Securities which are printed, lithographed, typewritten,
mimeographed or otherwise produced, in any authorized denomination,
substantially of the tenor of the definitive Securities in lieu of which they
are issued and with such appropriate insertions, omissions, substitutions and
other variations as the

                                       19
<PAGE>

officers executing such Securities may determine, as evidenced by their
execution of such Securities.

         If temporary Securities of any series are issued, the Company will
cause definitive Securities of that series to be prepared without unreasonable
delay. After the preparation of definitive Securities of that series, the
temporary Securities of such series shall be exchangeable for definitive
Securities of such series upon surrender of the temporary Securities of such
series at the office or agency of the Company in a Place of Payment for that
series, without charge to the Holder. Upon surrender for cancellation of any one
or more temporary Securities of any series the Company shall execute and the
Trustee shall authenticate and deliver in exchange therefor one or more
definitive Securities of the same series, of any authorized denominations and
like aggregate principal amount and tenor.

         Until exchanged in full as hereinafter provided, the temporary
Securities of any series shall in all respects be entitled to the same benefits
under this Indenture as definitive Securities of the same series and of like
tenor authenticated and delivered hereunder.

         Section 305. Registration, Registration of Transfer and Exchange.

         The Company shall cause to be kept at an office or agency to be
maintained by the Company in accordance with SECTION 1002 a register (being the
combined register of the Security Registrar and all transfer agents designated
pursuant to SECTION 1002 for the purpose of registration of transfer of
Securities and sometimes collectively referred to as the "SECURITY REGISTER") in
which, subject to such reasonable regulations as it may prescribe, the Company
shall provide for the registration of Securities and the registration of
transfers of Securities. The Trustee is hereby appointed "SECURITY REGISTRAR"
for the purpose of registering Securities and transfers of Securities as herein
provided.

         Except as otherwise provided in SECTION 203 or as may be provided as
contemplated by SECTION 301, upon surrender for registration of transfer of any
Security of a series at the office or agency of the Company maintained pursuant
to SECTION 1002 for such purpose in a Place of Payment for that series, the
Company shall execute, and the Trustee shall authenticate and deliver, in the
name of the designated transferee or transferees, one or more new Securities of
the same series, of any authorized denominations and of like tenor and aggregate
principal amount.

         At the option of the Holder, Securities of any series may be exchanged
for other Securities of the same series, of any authorized denominations and of
like tenor and aggregate principal amount, upon surrender of the Securities to
be exchanged at such office or agency. Whenever any Securities are so
surrendered for exchange, the Company shall execute, and the Trustee shall
authenticate and deliver, the Securities that the Holder making the exchange is
entitled to receive.

         All Securities issued upon any registration of transfer or exchange of
Securities shall be the valid obligations of the Company, evidencing the same
debt, and entitled to the same benefits under this Indenture, as the Securities
surrendered upon such registration of transfer or exchange.

         Every Security presented or surrendered for registration of transfer or
for exchange shall (if so required by the Company or the Trustee or any transfer
agent) be duly endorsed, or be

                                       20

<PAGE>

accompanied by a written instrument of transfer in form satisfactory to the
Company and the Security Registrar or any transfer agent duly executed, by the
Holder thereof or his attorney duly authorized in writing.

         No service charge shall be made for any registration of transfer or
exchange of Securities, but the Company may require payment of a sum sufficient
to cover any tax or other governmental charge that may be imposed in connection
with any registration of transfer or exchange of Securities, other than
exchanges pursuant to SECTION 304, 906 OR 1107 not involving any transfer.

         If the Securities of any series (or of any series and specified tenor)
are to be redeemed in part, the Company shall not be required to issue, register
the transfer of or exchange any Securities of that series (or of that series and
specified tenor, as the case may be) during a period beginning at the opening of
business 15 days before any selection of Securities of that series to be
redeemed and ending at the close of business on the day of the mailing of the
relevant notice of redemption.

         Section 306. Mutilated, Destroyed, Lost and Stolen Securities.

         If any mutilated Security is surrendered to the Trustee, the Company
shall execute and the Trustee shall authenticate and deliver in exchange
therefor a new Security of the same series and of like tenor and principal
amount and bearing a number not contemporaneously outstanding.

         If there shall be delivered to the Company and the Trustee (i) evidence
to their satisfaction of the destruction, loss or theft of any Security and (ii)
such security or indemnity as may be required by them to save each of them and
any agent of either of them harmless, then, in the absence of notice to the
Company or the Trustee that such Security has been acquired by a bona fide
purchaser, the Company shall execute and the Trustee shall authenticate and
deliver, in lieu of any such destroyed, lost or stolen Security, a new Security
of the same series and of like tenor and principal amount and bearing a number
not contemporaneously outstanding.

         Notwithstanding the provisions of the previous two paragraphs, in case
any such mutilated, destroyed, lost or stolen Security has become or is about to
become due and payable, the Company in its discretion may, instead of issuing a
new Security, pay such Security.

         Upon the issuance of any new Security under this Section, the Company
may require the payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in relation thereto and any other
expenses (including the fees and expenses of the Trustee) connected therewith.

         Every new Security of any series issued pursuant to this Section in
lieu of any destroyed, lost or stolen Security shall constitute an original
additional contractual obligation of the Company, whether or not the destroyed,
lost or stolen Security shall be at any time enforceable by anyone, and shall be
entitled to all the benefits of this Indenture equally and proportionately with
any and all other Securities of that series duly issued hereunder.

                                       21

<PAGE>

         The provisions of this Section are exclusive and shall preclude (to the
extent lawful) all other rights and remedies with respect to the replacement or
payment of mutilated, destroyed, lost or stolen Securities.

         Section 307. Payment of Interest; Interest Rights Preserved.

         Except as otherwise provided as contemplated by SECTION 301 with
respect to any series of Securities, interest on any Security which is payable,
and is punctually paid or duly provided for, on any Interest Payment Date shall
be paid to the Person in whose name that Security (or one or more Predecessor
Securities) is registered at the close of business on the Regular Record Date
for such interest.

         Any interest on any Security of any series which is payable, but is not
punctually paid or duly provided for, on any Interest Payment Date (herein
called "DEFAULTED INTEREST") shall forthwith cease to be payable to the Holder
on the relevant Regular Record Date by virtue of having been such Holder, and
such Defaulted Interest may be paid by the Company, at its election in each
case, as provided in clause (1) or (2) below:

                  (1) The Company may elect to make payment of any Defaulted
         Interest to the Persons in whose names the Securities of such series
         (or their respective Predecessor Securities) are registered at the
         close of business on a special record date (a "SPECIAL RECORD DATE")
         for the payment of such Defaulted Interest, which shall be fixed in the
         following manner. The Company shall notify the Trustee in writing of
         the amount of Defaulted Interest proposed to be paid on each Security
         of such series and the date of the proposed payment, and at the same
         time the Company shall deposit with the Trustee an amount of money
         equal to the aggregate amount proposed to be paid in respect of such
         Defaulted Interest or shall make arrangements satisfactory to the
         Trustee for such deposit prior to the date of the proposed payment,
         such money when deposited to be held in trust for the benefit of the
         Persons entitled to such Defaulted Interest as in this Clause provided.
         Thereupon the Trustee shall fix a Special Record Date for the payment
         of such Defaulted Interest which shall be not more than 15 days and not
         less than 10 days prior to the date of the proposed payment and not
         less than 10 days after the receipt by the Trustee of the notice of the
         proposed payment. The Trustee shall promptly notify the Company of such
         Special Record Date and, in the name and at the expense of the Company,
         shall cause notice of the proposed payment of such Defaulted Interest
         and the Special Record Date therefor to be given to each Holder of
         Securities of such series in the manner set forth in SECTION 106, not
         less than 10 days prior to such Special Record Date. Notice of the
         proposed payment of such Defaulted Interest and the Special Record Date
         therefor having been so mailed, such Defaulted Interest shall be paid
         to the Persons in whose names the Securities of such series (or their
         respective Predecessor Securities) are registered at the close of
         business on such Special Record Date and shall no longer be payable
         pursuant to the following Clause (2).

                  (2) The Company may make payment of any Defaulted Interest on
         the Securities of any series in any other lawful manner not
         inconsistent with the requirements of any securities exchange on which
         such Securities may be listed, and upon such notice as may be required
         by such exchange, if, after notice given by the Company to the Trustee
         of the

                                       22
<PAGE>

         proposed payment pursuant to this Clause, such manner of payment shall
         be deemed practicable by the Trustee.

Subject to the foregoing provisions of this Section and SECTION 305, each
Security delivered under this Indenture upon registration of transfer of or in
exchange for or in lieu of any other Security shall carry the rights to interest
accrued and unpaid, and to accrue, which were carried by such other Security.

         Section 308. Persons Deemed Owners.

         Prior to due presentment of a Security for registration of transfer,
the Company, the Trustee and any agent of the Company or the Trustee may treat
the Person in whose name such Security is registered as the owner of such
Security for the purpose of receiving payment of principal of and any premium
and (subject to SECTION 305 AND SECTION 307) any interest on such Security and
for all other purposes whatsoever, whether or not such Security be overdue, and
neither the Company, the Trustee nor any agent of the Company or the Trustee
shall be affected by notice to the contrary.

         Section 309. Cancellation.

         All Securities surrendered for payment, redemption, registration of
transfer or exchange or for credit against any sinking fund payment shall, if
surrendered to any Person other than the Trustee, be delivered to the Trustee
and shall be promptly cancelled by it. The Company may at any time deliver to
the Trustee for cancellation any Securities previously authenticated and
delivered hereunder which the Company may have acquired in any manner
whatsoever, and may deliver to the Trustee (or to any other Person for delivery
to the Trustee) for cancellation any Securities previously authenticated
hereunder which the Company has not issued and sold, and all Securities so
delivered shall be promptly cancelled by the Trustee. No Securities shall be
authenticated in lieu of or in exchange for any Securities cancelled as provided
in this Section, except as expressly permitted by this Indenture. All cancelled
Securities held by the Trustee shall be disposed of in the Trustee's customary
manner.

         Section 310. Computation of Interest.

         Except as otherwise specified as contemplated by SECTION 301 for
Securities of any series, interest on the Securities of each series shall be
computed on the basis of a 360-day year of twelve 30-day months.

         Section 311. CUSIP Numbers.

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

                                       23

<PAGE>

                                  ARTICLE FOUR

                           SATISFACTION AND DISCHARGE

         Section 401. Satisfaction and Discharge of Indenture.

         This Indenture shall upon Company Request cease to be of further effect
(except as to any surviving rights of registration of transfer or exchange of
Securities herein expressly provided for, and any right to receive additional
amounts, as provided in SECTION 1007), and the Trustee, at the expense of the
Company, shall execute proper instruments acknowledging satisfaction and
discharge of this Indenture, when

                  (1) either

                                    (A) all Securities theretofore authenticated
                           and delivered (other than Securities which have been
                           destroyed, lost or stolen and which have been
                           replaced or paid as provided in SECTION 306 and
                           Securities for whose payment money has theretofore
                           been deposited in trust or segregated and held in
                           trust by the Company and thereafter repaid to the
                           Company or discharged from such trust, as provided in
                           SECTION 1003) have been delivered to the Trustee for
                           cancellation; or

                                    (B) all such Securities not theretofore
                           delivered to the Trustee for cancellation:

                                            (i) have become due and payable, or

                                            (ii) will become due and payable at
                                    their Stated Maturity within one year, or

                                            (iii) are to be called for
                                    redemption within one year under
                                    arrangements satisfactory to the Trustee for
                                    the giving of notice of redemption by the
                                    Trustee in the name, and at the expense, of
                                    the Company,

                           and the Company, in the case of (i), (ii) or (iii)
                           above, has deposited or caused to be deposited with
                           the Trustee as trust funds in trust for such purpose
                           money in an amount sufficient to pay and discharge
                           the entire indebtedness on such Securities not
                           theretofore delivered to the Trustee for
                           cancellation, for principal and any premium and
                           interest to the date of such deposit (in the case of
                           Securities which have become due and payable) or to
                           the Stated Maturity or Redemption Date, as the case
                           may be;

                  (2) the Company has paid or caused to be paid all other sums
         payable hereunder by the Company; and

                                       24

<PAGE>

                  (3) the Company has delivered to the Trustee an Officers'
         Certificate and an Opinion of Counsel, each stating that all conditions
         precedent herein provided for relating to the satisfaction and
         discharge of this Indenture have been complied with.

         Notwithstanding the satisfaction and discharge of this Indenture, the
obligations of the Company to the Trustee under SECTION 607, the obligations of
the Company to any Authenticating Agent under SECTION 614 and, if money shall
have been deposited with the Trustee pursuant to subclause (B) of clause (1) of
this Section, the obligations of the Trustee under SECTION 402 and the last
paragraph of SECTION 1003 shall survive such satisfaction and discharge.

         Section 402. Application of Trust Money.

         Subject to the provisions of the last paragraph of SECTION 1003, all
money deposited with the Trustee pursuant to SECTION 401 shall be held in trust
and applied by it, in accordance with the provisions of the Securities and this
Indenture, to the payment, either directly or through any Paying Agent
(including the Company acting as its own Paying Agent) as the Trustee may
determine, to the Persons entitled thereto, of the principal and any premium and
interest for whose payment such money has been deposited with the Trustee.

                                  ARTICLE FIVE

                                    REMEDIES

         Section 501. Events of Default.

         "EVENT OF DEFAULT", wherever used herein with respect to Securities of
any series, means any one of the following events (whatever the reason for such
Event of Default and whether it shall be voluntary or involuntary or be effected
by operation of law or pursuant to any judgment, decree or order of any court or
any order, rule or regulation of any administrative or governmental body):

                  (1) default in the payment of any interest upon any Security
         of that series when it becomes due and payable, and continuance of such
         default for a period of 30 days; or,

                  (2) default in the payment of the principal of or any premium
         on any Security of that series at its Maturity and (if so established
         as contemplated by SECTION 301 in respect of that series), in the case
         of technical or administrative difficulties only if such default
         persists for a period of five days; or

                  (3) default in the deposit of any sinking fund payment, when
         and as due by the terms of a Security of that series; or

                  (4) default in the performance, or breach, of any covenant or
         warranty of the Company in this Indenture (other than a covenant or
         warranty a default in whose performance or whose breach is elsewhere in
         this Section specifically dealt with or which has expressly been
         included in this Indenture solely for the benefit of series of
         Securities other than that series), and continuance of such default or
         breach for a period of 90 days

                                       25
<PAGE>

         after there has been given, by registered or certified mail, to the
         Company by the Trustee or to the Company and the Trustee by the Holders
         of at least 25% in principal amount of the Outstanding Securities of
         that series a written notice specifying such default or breach and
         requiring it to be remedied and stating that such notice is a "NOTICE
         OF DEFAULT" hereunder; or

                  (5) the entry by a court having jurisdiction in the premises
         of (A) a decree or order for relief in respect of the Company in an
         involuntary case or proceeding under any applicable Federal or State
         bankruptcy, insolvency, reorganization or other similar law or (B) a
         decree or order adjudging the Company a bankrupt or insolvent, or
         approving as properly filed a petition seeking reorganization,
         arrangement, adjustment or composition of or in respect of the Company
         under any applicable Federal or State law, or appointing a custodian,
         receiver, liquidator, assignee, trustee, sequestrator or other similar
         official of the Company or of any substantial part of its property, or
         ordering the winding up or liquidation of its affairs, and the
         continuance of any such decree or order for relief or any such other
         decree or order unstayed and in effect for a period of 90 consecutive
         days; or

                  (6) the commencement by the Company of a voluntary case or
         proceeding under any applicable Federal or State bankruptcy,
         insolvency, reorganization or other similar law or of any other case or
         proceeding to be adjudicated a bankrupt or insolvent, of the consent by
         it to the entry of a decree or order for relief in respect of the
         Company in an involuntary case or proceeding under any applicable
         Federal or State bankruptcy, insolvency, reorganization or other
         similar law or to the commencement of any bankruptcy or insolvency case
         or proceeding against it, or the filing by it of a petition or answer
         or consent seeking reorganization or relief under any applicable
         Federal or State law, or the consent by it to the filing of such
         petition or to the appointment of or taking possession by a custodian,
         receiver, liquidator, assignee, trustee, sequestrator or other similar
         official of the Company or of any substantial part of its property, or
         the making by it of an assignment for the benefit of creditors, or the
         admission by it in writing of its inability to pay its debts generally
         as they become due; or

                  (7) any other Event of Default provided with respect to
         Securities of that series.

         Section 502. Acceleration of Maturity; Rescission and Annulment.

         If an Event of Default (other than an Event of Default specified in
SECTION 501(5) OR 501(6)) with respect to Securities of any series at the time
Outstanding occurs and is continuing, then in every such case the Trustee or the
Holders of not less than 25% in principal amount of the Outstanding Securities
of that series may declare the principal amount of all the Securities of that
series (or, if any Securities of that series are Original Issue Discount
Securities, such portion of the principal amount of such Securities as may be
specified by the terms thereof) to be due and payable immediately, by a notice
in writing to the Company (and to the Trustee if given by Holders), and upon any
such declaration such principal amount (or specified amount) shall become
immediately due and payable. If an Event of Default specified in SECTION 501(5)
OR 501(6) with respect to Securities of any series at the time Outstanding
occurs, the principal amount of all the Securities of that series (or, if any
Securities of that series are Original Issue Discount Securities, such portion
of the principal amount of such Securities as may be specified

                                       26
<PAGE>

by the terms thereof) shall automatically, and without any declaration or other
action on the part of the Trustee or any Holder, become immediately due and
payable.

         At any time after such a declaration of acceleration with respect to
Securities of any series has been made and before a judgment or decree for
payment of the money due has been obtained by the Trustee as hereinafter in this
Article provided, the Holders of a majority in principal amount of the
Outstanding Securities of that series, by written notice to the Company and the
Trustee, may rescind and annul such declaration and its consequences if

                  (1) the Company has paid or deposited with the Trustee a sum
         sufficient to pay

                                    (A) all overdue interest on all
                           Securities of that series,

                                    (B) the principal of (and premium, if any,
                           on) any Securities of that series which have become
                           due otherwise than by such declaration of
                           acceleration and any interest thereon at the rate or
                           rates prescribed therefor in such Securities,

                                    (C) to the extent that payment of such
                           interest is lawful, interest upon overdue interest at
                           the rate or rates prescribed therefor in such
                           Securities, and

                                    (D) all sums paid or advanced by the
                           Trustee hereunder and the reasonable compensation,
                           expenses, disbursements and advances of the Trustee,
                           its agents and counsel; and

                  (2) all Events of Default with respect to Securities of that
         series, other than the non-payment of the principal of Securities of
         that series which has become due solely by such declaration of
         acceleration, have been cured or waived as provided in SECTION 513.

         No such rescission shall affect any subsequent default or impair any
right consequent thereon.

                  Section 503.      Collection of Indebtedness and Suits for
                                    Enforcement by Trustee.

         The Company covenants that if

                  (1) default is made in the payment of any interest on any
         Security when such interest becomes due and payable and such default
         continues for a period of 30 days, or

                  (2) default is made in the payment of the principal of (or
         premium, if any, on) any Security at the Maturity thereof,

the Company will, upon demand of the Trustee, pay to it, for the benefit of the
Holders of such Securities, the whole amount then due and payable on such
Securities for principal and any premium and interest and, to the extent that
payment of such interest shall be legally enforceable, interest on any overdue
principal and premium and on any overdue interest, at the rate or rates
prescribed therefor in such Securities, and, in addition thereto, such further
amount as shall be

                                       27
<PAGE>

sufficient to cover the costs and expenses of collection, including the
reasonable compensation, expenses, disbursements and advances, of the Trustee,
its agents and counsel.

         If the Company fails to pay such amounts forthwith upon such demand,
the Trustee, in its own name and as trustee of an express trust, may institute a
judicial proceeding for the collection of the sums so due and unpaid, may
prosecute such proceeding to judgment or final decree and may enforce the same
against the Company or any other obligor upon such Securities and collect the
moneys adjudged or decreed to be payable in the manner provided by law out of
the property of the Company or any other obligor upon such Securities, wherever
situated.

         If an Event of Default with respect to Securities of any series occurs
and is continuing, the Trustee may in its discretion proceed to protect and
enforce its rights and the rights of the Holders of Securities of such series by
such appropriate judicial proceedings as the Trustee shall deem reasonably
necessary to protect and enforce any such rights, whether for the specific
enforcement of any covenant or agreement in this Indenture or in aid of the
exercise of any power granted herein, or to enforce any other proper remedy.

                  Section 504.      Trustee May File Proofs of Claim.

         In case of the pendency of any receivership, insolvency, liquidation
bankruptcy, reorganization, arrangement, adjustment, composition or other
judicial proceeding relative to the Company or any other obligor upon the
Securities or the property of the Company or of such other obligor or their
creditors, the Trustee (irrespective of whether the principal (or lesser amount
in the case of Original Issue Discount Securities) of the Securities shall then
be due and payable as therein expressed or by declaration or otherwise and
irrespective of whether the Trustee shall have made any demand on the Company
for the payment of overdue principal (and premium, if any) or interest) shall be
entitled and empowered, by intervention in such proceeding or otherwise,

                  (1) to file and prove a claim for the whole amount of
         principal (or lesser amount in the case of Original Issue Discount
         Securities) (and premium, if any) and interest owing and unpaid in
         respect of the Securities and to file such other papers or documents as
         may be necessary or advisable in order to have the claims of the
         Trustee (including any claim for the reasonable compensation, expenses,
         disbursements and advances of the Trustee, its agents and counsel) and
         of the Holders allowed in such judicial proceeding, and

                  (2) to collect and receive any monies or other property
         payable or deliverable on any such claims and to distribute the same;

and any custodian, receiver, assignee, trustee, liquidator, sequestrator or
other similar official in any such judicial proceeding is hereby authorized by
each Holder to make such payments to the Trustee and, in the event that the
Trustee shall consent to the making of such payments directly to the Holders, to
pay to the Trustee any amount due it for the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel, and any other
amounts due the Trustee under SECTION 607.

                                       28
<PAGE>

         Nothing herein contained shall be deemed to authorize the Trustee to
authorize or consent to or accept or adopt on behalf of any Holder any plan of
reorganization, arrangement, adjustment or composition affecting the Securities
or the rights of any Holder thereof or to authorize the Trustee to vote in
respect of the claim of any Holder in any such proceedings; provided, however,
that the Trustee may on behalf of the Holders, vote for the election of a
trustee in bankruptcy or similar official and be a member of a creditors' or
other similar committee.

                  Section 505.      Trustee May Enforce Claims Without
                                    Possession of Securities.

         All rights of action and claims under this Indenture or the Securities
may be prosecuted and enforced by the Trustee without the possession of any of
the Securities or the production thereof in any proceeding relating thereto, and
any such proceeding instituted by the Trustee shall be brought in its own name
as trustee of an express trust, and any recovery of judgment shall, after
provision for the payment of the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel, be for the
ratable benefit of the Holders of the Securities in respect of which such
judgment has been recovered.

                  Section 506.      Application of Money Collected.

         Any money collected by the Trustee pursuant to this Article shall be
applied in the following order, at the date or dates fixed by the Trustee and,
in case of the distribution of such money on account of principal or any premium
or interest, upon presentation of the Securities and the notation thereon of the
payment if only partially paid and upon surrender thereof if fully paid:

                  FIRST: To the payment of all amounts due the Trustee under
         SECTION 607;

                  SECOND: To the payment of the amounts then due and unpaid for
         principal of and any premium and interest on the Securities in respect
         of which or for the benefit of which such money has been collected,
         ratably, without preference or priority of any kind, according to the
         amounts due and payable on such Securities for principal and any
         premium and interest, respectively; and

                  THIRD: To the Company.

                  Section 507.      Limitation on Suits.

         Subject to SECTION 508, no Holder of any Security of any series shall
have any right to institute any proceeding, judicial or otherwise, with respect
to this Indenture, or for the appointment of a receiver or trustee, or for any
other remedy hereunder, unless

                  (1) an Event of Default with respect to Securities of such
         series shall have occurred and be continuing and such Holder has
         previously given written notice to the Trustee of a continuing Event of
         Default with respect to the Securities of that series;

                                       29
<PAGE>

                  (2) the Holders of not less than 25% in principal amount of
         the Outstanding Securities of that series shall have made written
         request to the Trustee to institute proceedings in respect of such
         Event of Default in its own name as Trustee hereunder;

                  (3) such Holder or Holders have offered to the Trustee
         reasonable indemnity satisfactory to it against the costs, expenses and
         liabilities to be incurred in compliance with such request;

                  (4) the Trustee for 60 days after its receipt of such notice,
         request and offer of indemnity has failed to institute any such
         proceeding; and

                  (5) no direction inconsistent with such written request has
         been given to the Trustee during such 60-day period by the Holders of a
         majority in principal amount of the Outstanding Securities of that
         series;

it being understood and intended that no one or more of such Holders shall have
any right in any manner whatever by virtue of, or by availing of, any provision
of this Indenture to affect, disturb or prejudice the rights of any other of
such Holders, or to obtain or to seek to obtain priority or preference over any
other of such Holders or to enforce any right under this Indenture, except in
the manner herein provided and for the equal and ratable benefit of all of such
Holders.

                  Section 508.      Unconditional Right of Holders to Receive
                                    Principal, Premium and Interest.

         Notwithstanding any other provision in this Indenture, the Holder of
any Security shall have the right, which is absolute and unconditional, to
receive payment of the principal of and any premium and (subject to SECTIONS 305
AND 307) interest on such Security on the respective Stated Maturities expressed
in such Security (or, in the case of redemption, on the Redemption Date) and to
institute suit for the enforcement of any such payment, and such rights shall
not be impaired without the consent of such Holder.

                  Section 509.      Restoration of Rights and Remedies.

         If the Trustee or any Holder has instituted any proceeding to enforce
any right or remedy under this Indenture and such proceeding has been
discontinued or abandoned for any reason, or has been determined adversely to
the Trustee or to such Holder; then and in every such case, subject to any
determination in such proceeding, the Company, the Trustee and the Holders shall
be restored severally and respectively to their former positions hereunder and
thereafter all rights and remedies of the Trustee and the Holders shall continue
as though no such proceeding had been instituted.

                  Section 510.      Rights and Remedies Cumulative.

         Except as otherwise provided with respect to the replacement or payment
of mutilated, destroyed, lost or stolen Securities in the last paragraph of
SECTION 306, no right or remedy herein conferred upon or reserved to the Trustee
or to the Holders is intended to be exclusive of any other right or remedy, and
every right and remedy shall, to the extent permitted by law, be cumulative and
in addition to every other right and remedy given hereunder or now or hereafter
existing at law or in equity or otherwise. The assertion or employment of any
right or remedy

                                       30
<PAGE>

hereunder, or otherwise, shall not prevent the concurrent assertion or
employment of any other appropriate right or remedy.

                  Section 511.      Delay or Omission Not Waiver.

         No delay or omission of the Trustee or of any Holder of any Securities
to exercise any right or remedy accruing upon any Event of Default shall impair
any such right or remedy or constitute a waiver of any such Event of Default or
an acquiescence therein. Every right and remedy given by this Article or by law
to the Trustee or to the Holders may be exercised from time to time, and as
often as may be deemed expedient, by the Trustee or by the Holders, as the case
may be.

                  Section 512.      Control by Holders.

         With respect to the Securities of any series, the Holders of a majority
in principal amount of the Outstanding Securities of any series shall have the
right to direct the time, method and place of conducting any proceeding for any
remedy available to the Trustee, or exercising any trust or power conferred on
the Trustee, provided that

                  (1) such direction shall not be in conflict with any rule of
         law or with this Indenture, and

                  (2) the Trustee may take any other action deemed proper by the
         Trustee which is not inconsistent with such direction.

                  Section 513.      Waiver of Past Defaults.

         The Holders of not less than a majority in principal amount of the
Outstanding Securities of any series may on behalf of the Holders of all the
Securities of such series waive any past default hereunder with respect to such
series and its consequences, except a default

                  (1) in the payment of the principal of or any premium or
         interest on any Security of such series, or

                  (2) in respect of a covenant or provision hereof which under
         Article Nine cannot be modified or amended without the consent of the
         Holder of each Outstanding Security of such series affected.

         Upon any such waiver, such default shall cease to exist, and any Event
of Default arising therefrom shall be deemed to have been cured, for every
purpose of this Indenture but no such waiver shall extend to any subsequent or
other default or impair any right consequent thereon.

                  Section 514.      Undertaking for Costs.

         All parties to this Indenture agree and each Holder of any Security by
his acceptance thereof shall be deemed to have agreed that in any suit for the
enforcement of any right or remedy under this Indenture, or in any suit against
the Trustee for any action taken, suffered or omitted by it as Trustee, a court
may require any party litigant in such suit to file an undertaking

                                       31
<PAGE>

to pay the costs of such suit, and may assess costs including reasonable
attorneys' fees and expenses against any such party litigant, in the manner and
to the extent provided in the Trust Indenture Act; provided that neither this
Section nor the Trust Indenture Act shall be deemed to authorize any court to
require such an undertaking or to make such an assessment in any suit instituted
by the Company or the Trustee.

                  Section 515.      Waiver of Stay or Extension Laws.

         The Company covenants (to the extent that it may lawfully do so) that
it will not at any time insist upon, or plead, or in any manner whatsoever claim
or take the benefit or advantage of, any stay or extension law wherever enacted,
now or at any time hereafter in force, which may affect the covenants or the
performance of this Indenture; and the Company (to the extent that it may
lawfully do so) hereby expressly waives all benefit or advantage of any such law
and covenants that it will not hinder, delay or impede the execution of any
power herein granted to the Trustee, but will suffer and permit the execution of
every such power as though no such law had been enacted.

                                   ARTICLE SIX

                                   THE TRUSTEE

                  Section 601.      Certain Duties and Responsibilities.

         The duties and responsibilities of the Trustee shall be as provided by
the Trust Indenture Act. Notwithstanding the foregoing, no provision of this
Indenture shall require the Trustee to expend or risk its own funds or otherwise
incur any financial liability in the performance of any of its duties hereunder,
or in the exercise of any of its rights or powers, if it shall have reasonable
grounds for believing that repayment of such funds or adequate indemnity against
such risk or liability is not reasonably assured to it. Whether or not therein
expressly so provided, every provision of this Indenture relating to the conduct
or affecting the liability of or affording protection to the Trustee shall be
subject to the provisions of this Section.

                  Section 602.      Notice of Defaults.

         If a default occurs hereunder with respect to Securities of any series,
the Trustee shall give the Holders of Securities of such series notice of such
default as and to the extent provided by the Trust Indenture Act; provided,
however, that in the case of any default of the character specified in Section
501(4) with respect to Securities of such series, no such notice to Holders
shall be given until at least 30 days after the occurrence thereof. For the
purpose of this Section, the term "default" means any event which is, or after
notice or lapse of time or both would become, an Event of Default with respect
to Securities of such series.

                  Section 603.      Certain Rights of Trustee.

         Subject to the provisions of SECTION 601:

                  (1) the Trustee may conclusively rely and shall be fully
         protected in acting or refraining from acting upon any resolution,
         certificate, statement, instrument, opinion,

                                       32
<PAGE>

         report, notice, request, direction, consent, order, bond, debenture,
         note, other evidence of indebtedness or other paper or document
         (whether in its original or facsimile form) believed by it to be
         genuine and to have been signed or presented by the proper party or
         parties;

                  (2) any request or direction of the Company mentioned herein
         shall be sufficiently evidenced by a Company Request or Company Order,
         and any resolution of the Board of Directors shall be sufficiently
         evidenced by a Board Resolution;

                  (3) whenever in the administration of this Indenture the
         Trustee shall deem it desirable that a matter be proved or established
         prior to taking, suffering or omitting any action hereunder, the
         Trustee (unless other evidence be herein specifically prescribed) may,
         in the absence of negligence or bad faith on its part, conclusively
         rely upon an Officers' Certificate;

                  (4) the Trustee may consult with counsel of its own selection
         and the advice of such counsel or any Opinion of Counsel shall be full
         and complete authorization and protection in respect of any action
         taken, suffered or omitted by it hereunder in good faith and in
         reliance thereon;

                  (5) the Trustee shall be under no obligation to exercise any
         of the rights or powers vested in it by this Indenture at the request
         or direction of any of the Holders pursuant to this Indenture, unless
         such Holders shall have offered to the Trustee reasonable security or
         indemnity satisfactory to it against the costs, expenses and
         liabilities which might be incurred by it in compliance with such
         request or direction;

                  (6) the Trustee shall not be bound to make any investigation
         into the facts or matters stated in any resolution, certificate,
         statement, instrument, opinion, report, notice, request, direction,
         consent, order, bond, debenture, note, other evidence of indebtedness
         or other paper or document, but the Trustee, in its discretion, may
         make such further inquiry or investigation into such facts or matters
         as it may see fit, and, if the Trustee shall determine to make such
         further inquiry or investigation, it shall be entitled to examine the
         books, records and premises of the Company, personally or by agent or
         attorney;

                  (7) the Trustee may execute any of the trusts or powers
         hereunder or perform any duties hereunder either directly or by or
         through agents or attorneys and the Trustee shall not be responsible
         for any misconduct or negligence on the part of any agent or attorney
         appointed with due care by it hereunder;

                  (8) the Trustee shall not be liable for any action taken,
         suffered, or omitted to be taken by it in good faith and reasonably
         believed by it to be authorized or within the discretion or rights or
         powers conferred upon it by this Indenture;

                  (9) the Trustee shall not be deemed to have notice of any
         default or Event of Default unless a Responsible Officer of the Trustee
         has actual knowledge thereof or unless written notice of any event
         which is in fact such a default is received by the

                                       33
<PAGE>

         Trustee at the Corporate Trust Office of the Trustee, and such notice
         references the Securities and this Indenture;

                  (10) the rights, privileges, protections, immunities and
         benefits given to the Trustee, including, without limitation, its right
         to be indemnified, are extended to, and shall be enforceable by, the
         Trustee in each of its capacities hereunder, and each agent, custodian
         and the Person employed to act hereunder; and

                  (11) the Trustee may request that the Company deliver an
         Officers' Certificate setting forth the names of individuals and/or
         titles of officers authorized at such time to take specified actions
         pursuant to this Indenture, which Officers' Certificate may be signed
         by any person authorized to sign an Officers' Certificate, including
         any person specified as so authorized in any such certificate
         previously delivered and not superseded.

                  Section 604.      Not Responsible for Recitals or Issuance of
                                    Securities.

         The recitals contained herein and in the Securities, except the
Trustee's certificates of authentication, shall be taken as the statements of
the Company, and neither the Trustee nor any Authenticating Agent assumes any
responsibility for their correctness. The Trustee makes no representations as to
the validity or sufficiency of this Indenture or of the Securities. Neither the
Trustee nor any Authenticating Agent shall be accountable for the use or
application by the Company of Securities or the proceeds thereof.

                  Section 605.      May Hold Securities.

         The Trustee, any Authenticating Agent, any Paying Agent, any Security
Registrar or any other agent of the Company, in its individual or any other
capacity, may become the owner or pledgee of Securities and, subject to SECTIONS
608 and 613, may otherwise deal with the Company with the same rights it would
have if it were not Trustee, Authenticating Agent, Paying Agent, Security
Registrar or such other agent.

                  Section 606.      Money Held in Trust.

         Money held by the Trustee in trust hereunder need not be segregated
from other funds except to the extent required by law. The Trustee shall be
under no liability for interest on any money received by it hereunder except as
otherwise agreed with the Company.

                  Section 607.      Compensation and Reimbursement.

         The Company agrees

                  (1) to pay to the Trustee from time to time such compensation
         for all services rendered by it hereunder as shall be agreed in writing
         between the Company and the Trustee (which compensation shall not be
         limited by any provision of law in regard to the compensation of a
         trustee of an express trust);

                                       34
<PAGE>

                  (2) except as otherwise expressly provided herein, to
         reimburse the Trustee and any predecessor Trustee upon its request for
         all reasonable expenses, disbursements and advances incurred or made by
         the Trustee in accordance with any provision of this Indenture
         (including the reasonable compensation and the expenses and
         disbursements of its agents and counsel), except any such expense,
         disbursement or advance as shall be determined to have been caused by
         its own negligence or bad faith; and

                  (3) to indemnify the Trustee and any predecessor Trustee for,
         and to hold it harmless against, any and all loss, liability claim,
         damage or expense, including taxes (other than those based upon,
         measured by or determined by the income of the Trustee), incurred
         without negligence or bad faith on its part, arising out of or in
         connection with the acceptance or administration of the trust or trusts
         hereunder, including the costs and expenses of defending itself against
         any claim (whether asserted by the Company, any Holder or any other
         Person) or liability in connection with the exercise or performance of
         any of its powers or duties hereunder.

         This Section shall survive the termination of the Indenture and the
resignation or removal of the Trustee.

                  Section 608.      Conflicting Interests.

         If the Trustee has or shall acquire a conflicting interest within the
meaning of the Trust Indenture Act, the Trustee shall either eliminate such
interest or resign, to the extent and in the manner provided by, and subject to
the provisions of, the Trust Indenture Act and this Indenture. To the extent
permitted by the Trust Indenture Act, the Trustee shall not be deemed to have a
conflicting interest by virtue of being a trustee under this Indenture with
respect to Securities of more than one series.

                  Section 609.      Corporate Trustee Required; Eligibility.

         There shall at all times be one (and only one) Trustee hereunder with
respect to the Securities of each series, which may be Trustee hereunder for
Securities of one or more other series. Each Trustee shall be a Person that is
eligible pursuant to the Trust Indenture Act to act as such and has a combined
capital and surplus of at least $50,000,000 and has its Corporate Trust Office
or another office customarily used as a place of payment of securities in New
York, New York. If any such Person publishes reports of condition at least
annually, pursuant to law or to the requirements of its supervising or examining
authority, then for the purposes of this Section and to the extent permitted by
the Trust Indenture Act, the combined capital and surplus of such Person shall
be deemed to be its combined capital and surplus as set forth in its most recent
report of condition so published. If at any time the Trustee with respect to the
Securities of any series shall cease to be eligible in accordance with the
provisions of this Section, it shall resign immediately in the manner and with
the effect hereinafter specified in this Article.

                  Section 610.      Resignation and Removal; Appointment of
                                    Successor.

         No resignation or removal of the Trustee and no appointment of a
successor Trustee pursuant to this Article shall become effective until the
acceptance of appointment by the successor Trustee in accordance with the
applicable requirements of SECTION 611.

                                       35
<PAGE>

         The Trustee may resign at any time with respect to the Securities of
one or more series by giving written notice thereof to the Company. If the
instrument of acceptance by a successor Trustee required by SECTION 611 shall
not have been delivered to the resigning Trustee within 30 days after the giving
of such notice of resignation, the resigning Trustee may petition any court of
competent jurisdiction at the expense of the Company for the appointment of a
successor Trustee with respect to the Securities of such series.

         The Trustee may be removed at any time with respect to the Securities
of any series by Act of the Holders of a majority in principal amount of the
Outstanding Securities of such series, delivered to the Trustee and to the
Company.

         If at any time:

                  (1) the Trustee shall fail to comply with SECTION 608 after
         written request therefor by the Company or by any Holder who has been a
         bona fide Holder of a Security for at least six months, or

                  (2) the Trustee shall cease to be eligible under SECTION 609
         and shall fail to resign after written request therefor by the Company
         or by any such Holder, or

                  (3) the Trustee shall become incapable of acting or shall be
         adjudged a bankrupt or insolvent or a receiver of the Trustee or of its
         property shall be appointed or any public officer shall take charge or
         control of the Trustee or of its property or affairs for the purpose of
         rehabilitation, conservation or liquidation,

then, in any such case, (A) the Company by a Board Resolution may remove the
Trustee with respect to all Securities, or (B) subject to SECTION 514, any
Holder who has been a bona fide Holder of a Security for at least six months
may, on behalf of himself and all others similarly situated, petition any court
of competent jurisdiction for the removal of the Trustee with respect to all
Securities and the appointment of a successor Trustee or Trustees. If an
instrument of acceptance by a successor Trustee shall not have been delivered to
the Trustee within 30 days after the giving of such notice of removal, the
Trustee being removed may petition, at the expense of the Company, any court of
competent jurisdiction for the appointment of a successor Trustee with respect
to the Securities of such series.

         If the Trustee shall resign, be removed or become incapable of acting,
or if a vacancy shall occur in the office of Trustee for any cause, with respect
to the Securities of one or more series, the Company, by a Board Resolution,
shall promptly appoint a successor Trustee or Trustees with respect to the
Securities of that or those series (it being understood that any such successor
Trustee may be appointed with respect to the Securities of one or more or all of
such series and that at any time there shall be only one Trustee with respect to
the Securities of any particular series) and shall comply with the applicable
requirements of SECTION 611. If, within one year after such resignation, removal
or incapability, or the occurrence of such vacancy, a successor Trustee with
respect to the Securities of any series shall be appointed by Act of the Holders
of a majority in principal amount of the Outstanding Securities of such series
delivered to the Company and the retiring Trustee, the successor Trustee so
appointed shall, forthwith upon its acceptance of such appointment in accordance
with the applicable requirements of

                                       36
<PAGE>

SECTION 611, become the successor Trustee with respect to the Securities of such
series and to that extent supersede the successor Trustee appointed by the
Company. If no successor Trustee with respect to the Securities of any series
shall have been so appointed by the Company or the Holders of Securities of such
series and accepted appointment in the manner required by SECTION 611, any
Holder who has been a bona fide Holder of a Security of such series for at least
six months may, on behalf of himself and all others similarly situated, petition
any court of competent jurisdiction for the appointment of a successor Trustee
with respect to the Securities of such series.

         The Company shall give notice of each resignation and each removal of
the Trustee with respect to the Securities of any series and each appointment of
a successor Trustee with respect to the Securities of any series to all Holders
of Securities of such series in the manner provided in SECTION 106. Each notice
shall include the name of the successor Trustee with respect to the Securities
of such series and the address of its Corporate Trust Office.

         Section 611.      Acceptance of Appointment by Successor.

         In case of the appointment hereunder of a successor Trustee with
respect to all Securities, every such successor Trustee so appointed shall
execute, acknowledge and deliver to the Company and to the retiring Trustee an
instrument accepting such appointment, and thereupon the resignation or removal
of the retiring Trustee shall become effective and such successor Trustee,
without any further act, deed or conveyance, shall become vested with all the
rights, powers, trusts and duties of the retiring Trustee; but, on the request
of the Company or the successor Trustee, such retiring Trustee shall, upon
payment of its charges, execute and deliver an instrument transferring to such
successor Trustee all the rights, powers and trusts of the retiring Trustee and
shall duly assign, transfer and deliver to such successor Trustee all property
and money held by such retiring Trustee hereunder.

         In case of the appointment hereunder of a successor Trustee with
respect to the Securities of one or more (but not all) series, the Company, the
retiring Trustee and each successor Trustee with respect to the Securities of
one or more series shall execute and deliver an indenture supplemental hereto
wherein each successor Trustee shall accept such appointment and which (1) shall
contain such provisions as shall be necessary or desirable to transfer and
confirm to, and to vest in, each successor Trustee all the rights, powers,
trusts and duties of the retiring Trustee with respect to the Securities of that
or those series to which the appointment of such successor Trustee relates, (2)
if the retiring Trustee is not retiring with respect to all Securities, shall
contain such provisions as shall be deemed necessary or desirable to confirm
that all the rights, powers, trusts and duties of the retiring Trustee with
respect to the Securities of that or those series as to which the retiring
Trustee is not retiring shall continue to be vested in the retiring Trustee, and
(3) shall add to or change any of the provisions of this Indenture as shall be
necessary to provide for or facilitate the administration of the trusts
hereunder by more than one Trustee, it being understood that nothing herein or
in such supplemental indenture shall constitute such Trustees co-trustees of the
same trust and that each such Trustee shall be trustee of a trust or trusts
hereunder separate and apart from any trust or trusts hereunder administered by
any other such Trustee; and upon the execution and delivery of such supplemental
indenture the resignation or removal of the retiring Trustee shall become
effective to the extent provided therein and each such successor Trustee,
without any further act, deed or conveyance, shall

                                       37
<PAGE>

become vested with all the rights, powers, trusts and duties of the retiring
Trustee with respect to the Securities of that or those series to which the
appointment of such successor Trustee relates; but, on request of the Company or
any successor Trustee, such retiring Trustee shall duly assign, transfer and
deliver to such successor Trustee all property and money held by such retiring
Trustee hereunder with respect to the Securities of that or those series to
which the appointment of such successor Trustee relates.

         Upon request of any such successor Trustee, the Company shall execute
any and all instruments for more fully and certainly vesting in and confirming
to such successor Trustee all such rights, powers and trusts referred to in the
first or second preceding paragraph, as the case may be.

         No successor Trustee shall accept its appointment unless at the time of
such acceptance such successor Trustee shall be qualified and eligible under
this Article.

         Section 612.      Merger, Conversion, Consolidation or Succession to
                           Business.

         Any corporation into which the Trustee may be merged or converted or
with which it may be consolidated, or any corporation resulting from any merger,
conversion or consolidation to which the Trustee shall be a party, or any
corporation succeeding to all or substantially all the corporate trust business
of the Trustee, shall be the successor of the Trustee hereunder, provided such
corporation shall be otherwise qualified and eligible under this Article,
without the execution or filing of any paper or any further act on the part of
any of the parties hereto. In case any Securities shall have been authenticated,
but not delivered, by the Trustee then in office, any successor by merger,
conversion or consolidation to such authenticating Trustee may adopt such
authentication and deliver the Securities so authenticated with the same effect
as if such successor Trustee had itself authenticated such Securities.

         Section 613.      Preferential Collection of Claims Against Company.

         If and when the Trustee shall be or become a creditor of the Company
(or any other obligor upon the Securities), the Trustee shall be subject to the
provisions of SECTION 311 of the Trust Indenture Act, but only to the extent
therein specified, regarding the collection of claims against the Company (or
any such other obligor). For purposes of SECTION 311(b)(4) AND (6) of such Act,
the following terms shall mean:

                           (a) "CASH TRANSACTION" means any transaction in which
                  full payment for goods or securities sold is made within seven
                  days after delivery of the goods or securities in currency or
                  in checks or other orders drawn upon banks or bankers and
                  payable upon demand; and

                           (b) "SELF-LIQUIDATING PAPER" means any draft, bill of
                  exchange, acceptance or obligation which is made, drawn,
                  negotiated or incurred by the Company for the purpose of
                  financing the purchase, processing, manufacturing, shipment,
                  storage or sale of goods, wares or merchandise and which is
                  secured by documents evidencing title to, possession of, or a
                  lien upon, the goods, wares or merchandise or the receivables
                  or proceeds arising from the sale of the goods, wares or
                  merchandise previously constituting the security, provided the
                  security is

                                       38
<PAGE>

                  received by the Trustee simultaneously with the creation of
                  the creditor relationship with the Company arising from the
                  making, drawing, negotiating or incurring of the draft, bill
                  of exchange, acceptance or obligation.

         Section 614.      Appointment of Authenticating Agent.

         The Trustee may appoint an Authenticating Agent or Agents with respect
to one or more series of Securities which shall be authorized to act on behalf
of the Trustee to authenticate Securities of such series issued upon original
issue and upon exchange, registration of transfer or partial redemption thereof
or pursuant to SECTION 306, and Securities so authenticated shall be entitled to
the benefits of this Indenture and shall be valid and obligatory for all
purposes as if authenticated by the Trustee hereunder. Any such appointment
shall be evidenced by an instrument in writing signed by a Responsible Officer
of the Trustee, and a copy of such instrument shall be promptly furnished to the
Company. Wherever reference is made in this Indenture to the authentication and
delivery of Securities by the Trustee or the Trustee's certificate of
authentication, such reference shall be deemed to include authentication and
delivery on behalf of the Trustee by an Authenticating Agent and a certificate
of authentication executed on behalf of the Trustee by an Authenticating Agent.
Each Authenticating Agent shall be acceptable to the Company and shall at all
times be a corporation organized and doing business under the laws of the United
States of America, any State thereof or the District of Columbia, authorized
under such laws to act as Authenticating Agent, having a combined capital and
surplus of not less than $50,000,000 and subject to supervision or examination
by Federal or State authority. If such Authenticating Agent publishes reports of
condition at least annually, pursuant to law or to the requirements of said
supervising or examining authority, then for the purposes of this Section, the
combined capital and surplus of such Authenticating Agent shall be deemed to be
its combined capital and surplus as set forth in its most recent report of
condition so published. If at any time an Authenticating Agent shall cease to be
eligible in accordance with the provisions of this Section, such Authenticating
Agent shall resign immediately in the manner and with the effect specified in
this Section.

         Any corporation into which an Authenticating Agent may be merged or
converted or with which it may be consolidated, or any corporation resulting
from any merger, conversion or consolidation to which such Authenticating Agent
shall be a party, or any corporation succeeding to the corporate agency or
corporate trust business of an Authenticating Agent, shall continue to be an
Authenticating Agent, provided such corporation shall be otherwise eligible
under this Section, without the execution or filing of any paper or any further
act on the part of the Trustee or the Authenticating Agent.

         An Authenticating Agent may resign at any time by giving written notice
thereof to the Trustee and to the Company. The Trustee may at any time terminate
the agency of an Authenticating Agent by giving written notice thereof to such
Authenticating Agent and to the Company. Upon receiving such a notice of
resignation or upon such a termination, or in case at any time such
Authenticating Agent shall cease to be eligible in accordance with the
provisions of this Section, the Trustee may appoint a successor Authenticating
Agent which shall be acceptable to the Company and shall give notice of such
appointment in the manner provided in SECTION 106 to all Holders of Securities
of the series with respect to which such Authenticating Agent will serve. Any
successor Authenticating Agent upon acceptance of its appointment

                                       39
<PAGE>

hereunder shall become vested with all the rights, powers and duties of its
predecessor hereunder, with like effect as if originally named as an
Authenticating Agent. No successor Authenticating Agent shall be appointed
unless eligible under the provisions of this Section.

         The Company agrees to pay to each Authenticating Agent from time to
time reasonable compensation for its services under this Section.

         If an appointment with respect to one or more series is made pursuant
to this Section, the Securities of such series may have endorsed thereon, in
addition to the Trustee's certificate of authentication, an alternative
certificate of authentication in the following form:

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

                               The Bank of New York,
                               As Trustee

                               By:
                                   --------------------------------------------
                                       As Authenticating Agent
                               By:
                                   --------------------------------------------
                                       Authorized Officer"

         If all of the Securities of a series may not be originally issued at
one time, and if the Trustee does not have an office capable of authenticating
Securities upon original issuance located in a Place of Payment where the
Company wishes to have Securities of such series authenticated upon original
issuance, the Trustee, if so requested by the Company in writing (which writing
need not comply with SECTION 102 and need not be accompanied by an Opinion of
Counsel), shall appoint in accordance with this Section an Authenticating Agent
having an office in a Place of Payment designated by the Company with respect to
such series of Securities.

                                  ARTICLE SEVEN

                HOLDERS' LISTS AND REPORTS BY TRUSTEE AND COMPANY

         Section 701.      Company to Furnish Trustee Names and Addresses of
                           Holders.

         With respect to each series of the Securities, the Company will furnish
or cause to be furnished to the Trustee

                  (1) semi-annually, not later than 15 days after each Regular
         Record Date or in the case of any series of Securities on which
         semi-annual interest is not payable, not more than 15 days after such
         semi-annual dates specified by the Trustee, a list, in such form as the
         Trustee may reasonably require, of the names and addresses of the
         Holders of Securities of each series as of the Regular Record Date or
         such semi-annual date, as the case may be, and

                                       40
<PAGE>

                  (2) at such other times as the Trustee may request in writing,
         within 30 days after the receipt by the Company of any such request, a
         list of similar form and content as of a date not more than 15 days
         prior to the time such list is furnished;

provided, that so long as the Trustee is the Security Registrar, the Company
shall not be required to furnish or cause to be furnished such a list to the
Trustee. The Company shall otherwise comply with Section 310(a) of the Trust
Indenture Act.

         Section 702.      Preservation of Information; Communications to
                           Holders.

         The Trustee shall preserve, in as current a form as is reasonably
practicable, the names and addresses of Holders contained in the most recent
list furnished to the Trustee as provided in SECTION 701 and the names and
addresses of Holders received by the Trustee in its capacity as Security
Registrar. The Trustee may destroy any list furnished to it as provided in
SECTION 701 upon receipt of a new list so furnished.

         The rights of Holders to communicate with other Holders with respect to
their rights under this Indenture or under the Securities, and the corresponding
rights and privileges of the Trustee, shall be as provided by the Trust
Indenture Act.

         Every Holder of Securities, by receiving and holding the same, agrees
with the Company and the Trustee that neither the Company nor the Trustee nor
any agent of either of them shall be held accountable by reason of the
disclosure of any such information as to the names and addresses of the Holders
in accordance with this SECTION 702, regardless of the source from which such
information was derived, and that the Trustee shall not be held accountable by
reason of mailing any material pursuant to a request made under this SECTION
702. The Company, the Trustee, the Security Registrar and any other Person shall
have the protection of Section 312(c) of the Trust Indenture Act.

         Section 703.      Reports by Trustee.

         The Trustee shall transmit to Holders such reports concerning the
Trustee and its actions under this Indenture as may be required pursuant to the
Trust Indenture Act at the times and in the manner provided pursuant thereto,
including Sections 313(a), 313(b), 313(c) and 313(d) of the Trust Indenture Act.

         A copy of each such report shall, at the time of such transmission to
Holders, be filed by the Trustee with each stock exchange upon which any
Securities are listed, with the Commission and with the Company. The Company
will notify the Trustee when any Securities are listed on any stock exchange or
delisted therefrom.

         Section 704.      Reports by Company.

         The Company shall file with the Trustee and the Commission, and
transmit to Holders, such information, documents and other reports, and such
summaries thereof, as may be required pursuant to the Trust Indenture Act at the
times and in the manner provided pursuant to such Act; provided that any such
information, documents or reports required to be filed with the Commission
pursuant to Section 13 or 15(d) of the Exchange Act shall be filed with the
Trustee

                                       41
<PAGE>

within 15 days after the same is so required to be filed with the Commission.
The Company shall otherwise comply with Section 314(a) of the Trust Indenture
Act.

         Delivery of such reports, information and documents to the Trustee is
for informational purposes only and the Trustee's receipt of such shall not
constitute constructive notice of any information contained therein or
determinable from information contained therein, including the Company's
compliance with any of its covenants hereunder (as to which the Trustee is
entitled to rely exclusively on Officers' Certificates).

                                  ARTICLE EIGHT

              CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE

         Section 801.      Company May Consolidate, Etc., Only on Certain Terms.

         The Company shall not consolidate with or merge into any other Person
or convey, transfer or lease its properties and assets substantially as an
entirety to any Person (other than a direct or indirect wholly-owned subsidiary
of the Company) and the Company shall not permit any Person (other than a direct
or indirect wholly-owned subsidiary of the Company) to consolidate with or merge
into the Company, unless:

                  (1) the Company is the surviving corporation or, in case the
         Company shall consolidate with or merge into another Person or convey,
         transfer or lease its properties and assets substantially as an
         entirety to any Person, the Person formed by such consolidation or into
         which the Company is merged or the Person which acquires by conveyance
         or transfer, or which leases, the properties and assets of the Company
         substantially as an entirety shall be a corporation, limited liability
         company, partnership or trust, organized and validly existing under the
         laws of the United States of America, any State thereof or the District
         of Columbia and shall expressly assume, by an indenture supplemental
         hereto, executed and delivered to the Trustee, in form reasonably
         satisfactory to the Trustee, the due and punctual payment of the
         principal of and any premium and interest (including all additional
         amounts, if any payable pursuant to Section 1007) on all the Securities
         and the performance or observance of every covenant of this Indenture
         on the part of the Company to be performed or observed;

                  (2) immediately after giving effect to such transaction and
         treating any indebtedness which becomes an obligation of the Company or
         any Subsidiary as a result of such transaction as having been incurred
         by the Company or such Subsidiary at the time of such transaction, no
         Event of Default, and no event which, after notice or lapse of time or
         both, would become an Event of Default, shall have happened and be
         continuing;

                  (3) if, as a result of any such consolidation or merger or
         such conveyance, transfer or lease, properties or assets of the Company
         would become subject to a mortgage, pledge, lien, security interest or
         other encumbrance which would not be permitted by this Indenture, the
         Company or such successor Person, as the case may be, shall take such
         steps as shall be necessary effectively to secure the Securities
         equally and ratably with (or prior to) all indebtedness secured
         thereby; and

                                       42
<PAGE>

                  (4) the Company has delivered to the Trustee an Officers'
         Certificate and an Opinion of Counsel, each stating that such
         consolidation, merger, conveyance, transfer or lease and, if a
         supplemental indenture is required in connection with such transaction,
         such supplemental indenture comply with this Article and that all
         conditions precedent herein provided for relating to such transaction
         have been complied with.

         Section 802.      Successor Substituted.

         Upon any consolidation of the Company with, or merger of the Company
into, any other Person or any conveyance, transfer or lease of the properties
and assets of the Company substantially as an entirety in accordance with
Section 801, the successor Person formed by such consolidation or into which the
Company is merged or to which such conveyance, transfer or lease is made shall
succeed to, and be substituted for, and may exercise every right and power of,
the Company under this Indenture with the same effect as if such successor
Person had been named as the Company herein, and thereafter, except in the case
of a lease, the predecessor Person shall be relieved of all obligations and
covenants under this Indenture and the Securities.

                                  ARTICLE NINE

                             SUPPLEMENTAL INDENTURES

         Section 901.      Supplemental Indentures Without Consent of Holders.

         Without the consent of any Holders, the Company, when authorized by a
Board Resolution, and the Trustee, at any time and from time to time, may enter
into one or more indentures supplemental hereto, in form reasonably satisfactory
to the Trustee, for any of the following purposes:

                  (1) to evidence the succession of another Person to the
         Company and the assumption by any such successor of the covenants of
         the Company herein and in the Securities; or

                  (2) to add to the covenants of the Company for the benefit of
         the Holders of all or any series of Securities (and if such covenants
         are to be for the benefit of less than all series of Securities,
         stating that such covenants are expressly being included solely for the
         benefit of such series) or to surrender any right or power herein
         conferred upon the Company; or

                  (3) to add any additional Events of Default for the benefit of
         the Holders of all or any series of Securities (and if such additional
         Events of Default are to be for the benefit of less than all series of
         Securities, stating that such additional Events of Default are
         expressly being included solely for the benefit of such series); or

                  (4) to add to, change or eliminate any of the provisions of
         this Indenture in respect of one or more series of Securities, provided
         that any such addition, change or elimination (A) shall neither (i)
         apply to any Security of any series created prior to the execution of
         such supplemental indenture and entitled to the benefit of such
         provision nor

                                       43
<PAGE>

         (ii) modify the rights of the Holder of any such Security with respect
         to such provision or (B) shall become effective only when there is no
         such Security Outstanding; or

                  (5) to secure the Securities; or

                  (6) to establish the form or terms of Securities of any series
         as permitted by SECTIONS 201 AND 301; or

                  (7) to evidence and provide for the acceptance of appointment
         hereunder by a successor Trustee with respect to the Securities of one
         or more series and to add to or change any of the provisions of this
         Indenture as shall be necessary to provide for or facilitate the
         administration of the trusts hereunder by more than one Trustee,
         pursuant to the requirements of SECTION 611; or

                  (8) to cure any ambiguity, to correct or supplement any
         provision herein which may be defective or inconsistent with any other
         provision herein, or to make any other provisions with respect to
         matters or questions arising under this Indenture, provided that such
         action shall not adversely affect the interests of the Holders of
         Securities of any series in any material respect.

         Section 902.      Supplemental Indentures With Consent of Holders.

         With the consent of the Holders of not less than a majority in
aggregate principal amount of the Outstanding Securities of each series affected
by such supplemental indenture, by Act of said Holders delivered to the Company
and the Trustee, the Company, when authorized by a Board Resolution, and the
Trustee may enter into an indenture or indentures supplemental hereto for the
purpose of adding any provisions to or changing in any manner or eliminating any
of the provisions of this Indenture or of modifying in any manner the rights of
the Holders of Securities of such series under this Indenture; provided,
however, that no such supplemental indenture shall, without the consent of the
Holder of each Outstanding Security affected thereby,

                  (1) change the Stated Maturity of the principal of, or any
         installment of principal of or interest on, any Security, or reduce the
         principal amount thereof or the rate of interest thereon or any premium
         payable upon the redemption thereof, or change any obligation of the
         Company to pay additional amounts pursuant to SECTION 1007 (except as
         contemplated by SECTIONS 801 AND 802 and permitted by SECTION 901(1)),
         or reduce the amount of the principal of an Original Issue Discount
         Security or any other Security which would be due and payable upon a
         declaration of acceleration of the Maturity thereof pursuant to SECTION
         502, or change any Place of Payment where, or the coin or currency in
         which, any Security or any premium or interest thereon is payable, or
         impair the right to institute suit for the enforcement of any such
         payment on or after the Stated Maturity thereof (or, in the case of
         redemption, on or after the Redemption Date), or

                  (2) reduce the percentage in principal amount of the
         Outstanding Securities of any series, the consent of whose Holders is
         required for any such supplemental indenture, or the consent of whose
         Holders is required for any waiver (of compliance with certain
         provisions of this Indenture or certain defaults hereunder and their
         consequences) provided for in this Indenture, or

                                       44
<PAGE>

                  (3) change any obligation of the Company to maintain an office
         or agency in the places and for the purposes specified in SECTION 1002,
         or

                  (4) modify any of the provisions of this Section, SECTION 513
         OR SECTION 1006, except to increase any such percentage or to provide
         that certain other provisions of this Indenture cannot be modified or
         waived without the consent of the Holder of each Outstanding Security
         affected thereby; provided, however, that this clause shall not be
         deemed to require the consent of any Holder with respect to changes in
         the references to "the Trustee" and concomitant changes in this Section
         and SECTION 901, or deletion of this proviso, in accordance with the
         requirements of SECTIONS 611 AND 901(7).

         A supplemental indenture which changes or eliminates any covenant or
other provision of this Indenture which has expressly been included solely for
the benefit of one or more particular series of Securities, or which modifies
the rights of the Holders of Securities of such series with respect to such
covenant or other provision, shall be deemed not to affect the rights under this
Indenture of the Holders of Securities of any other series.

         It shall not be necessary for any Act of Holders of Securities under
this Section to approve the particular form of any proposed supplemental
indenture, but it shall be sufficient if such Act shall approve the substance
thereof.

         Section 903.      Execution of Supplemental Indentures.

         In executing, or accepting the additional trusts created by, any
supplemental indenture permitted by this Article or the modifications thereby of
the trusts created by this Indenture, the Trustee shall be entitled to receive,
and (subject to SECTION 601) shall be fully protected in relying upon, an
Officers' Certificate and an Opinion of Counsel stating that the execution of
such supplemental indenture is authorized or permitted by this Indenture. The
Trustee may, but shall not be obligated to, enter into any such supplemental
indenture which affects the Trustee's owner's rights, duties or immunities under
this Indenture or otherwise.

         Section 904.      Effect of Supplemental Indentures.

         Upon the execution of any supplemental indenture under this Article,
this Indenture shall be modified in accordance therewith, and such supplemental
indenture shall form a part of this Indenture for all purposes; and every Holder
of Securities theretofore or thereafter authenticated and delivered hereunder
shall be bound thereby.

         Section 905.      Conformity with Trust Indenture Act.

         Every supplemental indenture executed pursuant to this Article shall
conform to the requirements of the Trust Indenture Act.

         Section 906.      Reference in Securities to Supplemental Indentures.

         Securities of any series authenticated and delivered after the
execution of any supplemental indenture pursuant to this Article may, and shall
if required by the Trustee, bear a notation in form approved by the Trustee as
to any matter provided for in such supplemental

                                       45
<PAGE>

indenture. If the Company shall so determine, new Securities of any series so
modified as to conform, in the opinion of the Trustee and the Company, to any
such supplemental indenture may be prepared and executed by the Company and
authenticated and delivered by the Trustee in exchange for Outstanding
Securities of such series.

                                   ARTICLE TEN

                                    COVENANTS

         Section 1001.     Payment of Principal, Premium and Interest.

         The Company covenants and agrees for the benefit of Holders of each
series of Securities that it will duly and punctually pay the principal of and
any premium and interest on the Securities of that series in accordance with the
terms of the Securities and this Indenture.

         Section 1002.     Maintenance of Office or Agency.

         The Company will maintain in each Place of Payment for any series an
office or agency where Securities of that series may be presented or surrendered
for payment, where Securities of that series may be surrendered for registration
of transfer or exchange and where notices and demands to or upon the Company in
respect of the Securities of that series and this Indenture may be served. The
Company will give prompt written notice to the Trustee of the location, and any
change in the location, of any such office or agency. If at any time the Company
shall fail to maintain any such required office or agency in respect of any
series of Securities or shall fail to furnish the Trustee with the address
thereof, such presentations and surrenders of Securities of that series may be
made and notices and demands may be made or served at the Corporate Trust Office
of the Trustee, and the Company hereby appoints the same as its agent to receive
such respective presentations, surrenders, notices and demands. The Company may
also from time to time designate one or more other offices or agencies where the
Securities of one or more series may be presented or surrendered for any or all
such purposes and may from time to time rescind such designations; provided,
however, that no such designation or rescission shall in any manner relieve the
Company of its obligation to maintain an office or agency in each Place of
Payment for Securities of any series for such purposes. The Company will give
prompt written notice to the Trustee of any such designation or rescission and
of any change in the location of any such other office or agency.

         Section 1003.     Money for Securities Payments to be Held in Trust.

         If the Company shall at any time act as its own Paying Agent with
respect to any series of Securities, it will, on or before each due date of the
principal of or any premium or interest on any of the Securities of that series,
segregate and hold in trust for the benefit of the Persons entitled thereto a
sum sufficient to pay the principal and any premium or interest so becoming due
until such sums shall be paid to such Persons or otherwise disposed of as herein
provided and will promptly notify the Trustee of its action or failure so to
act.

         Whenever the Company shall have one or more Paying Agents for any
series of Securities, it will, prior to each due date of the principal of or any
premium or interest on any Securities of that series, deposit with a Paying
Agent a sum sufficient to pay the principal and

                                       46
<PAGE>

any premium or interest so becoming due, such sum to be held in trust for the
benefit of the Persons entitled to such principal, premium or interest, and
(unless such Paying Agent is the Trustee) the Company will promptly notify the
Trustee of its action or failure so to act.

         The Company will cause each Paying Agent for any series of Securities
other than the Trustee to execute and deliver to the Trustee an instrument in
which such Paying Agent shall agree with the Trustee, subject to the provisions
of this Section, that such Paying Agent will (1) comply with the provisions of
the Trust Indenture Act applicable to it as a Paying Agent and (2) during the
continuance of any default by the Company (or any other obligor upon the
Securities of that series) in the making of any payment in respect of the
Securities of that series, upon the written request of the Trustee, forthwith
pay to the Trustee all sums held in trust by such Paying Agent for payment in
respect of the Securities of that series.

         The Company may at any time, for the purpose of obtaining the
satisfaction and discharge of this Indenture or for any other purpose, pay, or
by Company Order direct any Paying Agent to pay, to the Trustee all sums held in
trust by the Company or such Paying Agent, such sums to be held by the Trustee
upon the same trusts as those upon which such sums were held by the Company or
such Paying Agent; and, upon such payment by any Paying Agent to the Trustee,
such Paying Agent shall be released from all further liability with respect to
such money.

         Any money deposited with the Trustee or any Paying Agent, or then held
by the Company, in trust for the payment of the principal of or any premium or
interest on any Security of any series and remaining unclaimed for two years
after such principal and any premium or interest has become due and payable
shall be paid to the Company on Company Request, or (if then held by the
Company) shall be discharged from such trust; and the Holder of such Security
shall thereafter, as an unsecured general creditor, look only to the Company for
payment thereof, and all liability of the Trustee or such Paying Agent with
respect to such trust money, and all liability of the Company as trustee
thereof, shall thereupon cease; provided, however, that the Trustee or such
Paying Agent, before being required to make any such repayment, may at the
expense of the Company cause to be published once, in an Authorized Newspaper in
each Place of Payment, notice that such money remains unclaimed and that, after
a date specified therein, which shall not be less than 30 days from the date of
such publication, any unclaimed balance of such money then remaining will be
repaid to the Company.

         Section 1004.     Statement by Officers as to Default.

         The Company will deliver to the Trustee, within 120 days after the end
of each fiscal year of the Company ending after the date hereof, an Officers'
Certificate, stating whether or not to the best knowledge of the signers thereof
the Company is in default in the performance and observance of any of the terms,
provisions and conditions of this Indenture (without regard to any period of
grace or requirement of notice provided hereunder) and, if the Company shall be
in default, specifying all such defaults and the nature and status thereof of
which they may have knowledge. The Company shall deliver to the Trustee, as soon
as reasonably practicable and in any event within 20 days after the Company
becomes aware of the occurrence of any Event of Default or an event which, with
notice or the lapse of time or both, would constitute an Event of Default, an
Officers' Certificate setting forth the details of such Event of Default or
default.

                                       47
<PAGE>

         Section 1005.     Existence.

         Subject to Article Eight, the Company will do or cause to be done all
things necessary to preserve and keep in full force and effect its existence,
rights (charter and statutory) and franchises; provided, however, that the
Company shall not be required to preserve any such right or franchise if the
Board of Directors shall determine that the preservation thereof is no longer
desirable in the conduct of the business of the Company and that the loss
thereof is not disadvantageous in any material respect to the ability of the
Company to make payments hereunder.

         Section 1006.     Waiver of Certain Covenants.

         Except as otherwise specified as contemplated by SECTION 301 for
Securities of such series and as contemplated by SECTION 508, the Company may,
with respect to the Securities of any series, omit in any particular instance to
comply with any term, provision or condition set forth in this Indenture for the
benefit of the Holders of such series if before the time for such compliance the
Holders of at least 50% in principal amount of the Outstanding Securities of
such series shall, by Act of such Holders, either waive such compliance in such
instance or generally waive compliance with such term, provision or condition,
but no such waiver shall extend to or affect such term, provision or condition
except to the extent so expressly waived, and, until such waiver shall become
effective, the obligations of the Company and the duties of the Trustee in
respect of any such term, provision or condition shall remain in full force and
effect.

         Section 1007.     Additional Amounts.

         If the Securities of a series provide for the payment of additional
amounts, the Company will pay to the Holder of any Security of such series
additional amounts as provided therein. Whenever in this Indenture there is
mentioned, in any context, the payment of the principal of or any premium or
interest on, or in respect of, any Security of any series or the net proceeds
received on the sale or exchange of any Security of any series, such mention
shall be deemed to include mention of the payment of additional amounts provided
for in this Section to the extent that, in such context, additional amounts are,
were or would be payable in respect thereof pursuant to the provisions of this
Section and express mention of the payment of additional amounts (if applicable)
in any provisions hereof shall not be construed as excluding additional amounts
in those provisions hereof where such express mention is not made.

         If the Securities of a series provide for the payment of additional
amounts, at least 10 days prior to the first Interest Payment Date with respect
to that series of Securities (or if the Securities of that series will not bear
interest prior to Maturity, the first day on which a payment of principal and
any premium is made), and at least 10 days prior to each date of payment of
principal and any premium or interest if there has been any change with respect
to the matters set forth in the below-mentioned Officers' Certificate, the
Company will furnish the Trustee and the Company's principal Paying Agent or
Paying Agents, if other than the Trustee, with an Officers' Certificate
instructing the Trustee and such Paying Agent or Paying Agents whether such
payment of principal of and any premium or interest on the Securities of that
series shall be made to Holders of Securities of that series who are United
States Aliens without withholding for or on account of any tax, assessment or
other governmental charge described in the Securities of that

                                       48
<PAGE>

series. If any such withholding shall be required, then such Officers'
Certificate shall specify by country the amount, if any, required to be withheld
on such payments to such Holders of Securities and the Company will pay to the
Trustee or such Paying Agent the additional amounts required by this Section.
The Company covenants to indemnify the Trustee and any Paying Agent for, and to
hold them harmless against, any loss, liability or expense reasonably incurred
without negligence or bad faith on their part arising out of or in connection
with actions taken or omitted by any of them in reliance on any Officers'
Certificate furnished pursuant to this Section.

                                 ARTICLE ELEVEN

                            REDEMPTION OF SECURITIES

         Section 1101.     Applicability of Article.

         Securities of any series which are redeemable before their Stated
Maturity shall be redeemable in accordance with their terms and (except as
otherwise specified as contemplated by SECTION 301 for such Securities) in
accordance with this Article.

         Section 1102.     Election to Redeem; Notice to Trustee.

         The election of the Company to redeem any Securities shall be evidenced
by a Board Resolution or in another manner specified as contemplated by SECTION
301 for such Securities. In case of any redemption at the election of the
Company of less than all the Securities of any series (including any such
redemption affecting only a single Security), the Company shall, at least 60
days prior to the Redemption Date fixed by the Company (unless a shorter notice
shall be satisfactory to the Trustee), notify the Trustee of such Redemption
Date, of the principal amount of Securities of such series to be redeemed and,
if applicable, of the tenor of the Securities to be redeemed (unless all of the
Securities of a specified tenor are to be redeemed). In the case of any
redemption of Securities (i) prior to the expiration of any restriction on such
redemption provided in the terms of such Securities or elsewhere in this
Indenture, or (ii) pursuant to an election of the Company which is subject to a
condition specified in the terms of such Securities, the Company shall furnish
the Trustee with an Officers' Certificate evidencing compliance with such
restriction or condition.

         Section 1103.     Selection by Trustee of Securities to be Redeemed.

         If less than all the Securities of any series are to be redeemed
(unless all the Securities of such series and of a specified tenor are to be
redeemed or unless such redemption affects only a single Security), the
particular Securities to be redeemed shall be selected not more than 60 days
prior to the Redemption Date by the Trustee, from the Outstanding Securities of
such series not previously called for redemption, by such method as the Trustee
shall deem fair and appropriate and which may provide for the selection for
redemption of portions (equal to the minimum authorized denomination for
Securities of that series or any integral multiple thereof) of the principal
amount of Securities of such series of a denomination larger than the minimum
authorized denomination for Securities of that series or of the principal amount
of global securities of such series. If less than all of the Securities of such
series and of a specified tenor are to be redeemed, the particular Securities to
be redeemed shall be selected not more than 60

                                       49
<PAGE>

days prior to the Redemption Date by the Trustee, from the Outstanding
Securities of such series and specified tenor not previously called for
redemption in accordance with the preceding sentence.

         The Trustee shall promptly notify the Company in writing of the
Securities selected for redemption as aforesaid and, in case of any Securities
selected for partial redemption as aforesaid, the principal amount thereof to be
redeemed.

         The provisions of the two preceding paragraphs shall not apply with
respect to any redemption affecting only a single Security, whether such
Security is to be redeemed in whole or in part. In the case of any such
redemption in part, the unredeemed portion of the principal amount of the
Security shall be in an authorized denomination (which shall not be less than
the minimum authorized denomination) for such Security.

         For all purposes of this Indenture, unless the context otherwise
requires, all provisions relating to the redemption of Securities shall relate,
in the case of any Securities redeemed or to be redeemed only in part, to the
portion of the principal amount of such Securities which has been or is to be
redeemed.

         Section 1104.     Notice of Redemption.

         Notice of redemption shall be given in the manner provided in SECTION
106 to the Holders of Securities to be redeemed not less than 30 nor more than
60 days prior to the Redemption Date.

         All notices of redemption shall identify the Securities and state:

                  (1) the Redemption Date,

                  (2) the Redemption Price,

                  (3) if less than all the Outstanding Securities of any series
         consisting of more than a single Security are to be redeemed, the
         identification (and, in the case of partial redemption of any such
         Securities, the principal amounts) of the particular Securities to be
         redeemed and, if less than all the Outstanding Securities of any series
         consisting of a single Security are to be redeemed, the principal
         amount of the particular Security to be redeemed,

                  (4) that on the Redemption Date the Redemption Price will
         become due and payable upon each such Security to be redeemed and, if
         applicable, that interest thereon will cease to accrue on and after
         said date,

                  (5) the place or places where such Securities are to be
         surrendered for payment of the Redemption Price,

                  (6) that the redemption is for a sinking fund, if such is the
         case, and

                  (7) applicable CUSIP numbers, if any.

                                       50
<PAGE>

         A notice of redemption published as contemplated by SECTION 106 need
not identify particular registered Securities to be redeemed.

         Notice of redemption of Securities to be redeemed at the election of
the Company shall be given by the Company or, at the Company's request, by the
Trustee in the name and at the expense of the Company and shall be irrevocable.

         In case of any redemption at the election of the Company, the Company
will, at least 35 days prior to the Redemption Date (unless a shorter notice
will be satisfactory to the Trustee), notify the Trustee of such Redemption
Date.

         Section 1105.     Deposit of Redemption Price.

         Prior to 11:00 a.m. Eastern time on any Redemption Date, the Company
shall deposit with the Trustee or with a Paying Agent (or, if the Company is
acting as its own Paying Agent, segregate and hold in trust as provided in
SECTION 1003) an amount of money sufficient to pay the Redemption Price of, and
(except if the Redemption Date shall be an Interest Payment Date) accrued
interest on, all the Securities which are to be redeemed on that date.

         Section 1106.     Securities Payable on Redemption Date.

         Notice of redemption having been given as aforesaid, the Securities so
to be redeemed shall, on the Redemption Date, become due and payable at the
Redemption Price therein specified, and from and after such date (unless the
Company shall default in the payment of the Redemption Price and accrued
interest) such Securities shall cease to bear interest. Upon surrender of any
such Security for redemption in accordance with said notice, such Security shall
be paid by the Company at the Redemption Price, together with accrued interest
to the Redemption Date; provided, however, that, unless otherwise specified as
contemplated by SECTION 301, installments of interests on Securities whose
Stated Maturity is on or prior to the Redemption Date shall be payable to the
Holders of such Securities, or one or more Predecessor Securities, registered as
such at the close of business on the relevant Record Dates according to their
terms and the provisions of SECTION 307.

         If any Security called for redemption shall not be so paid upon
surrender thereof for redemption, the principal and any premium shall, until
paid, bear interest from the Redemption Date at the rate prescribed therefor in
the Security.

         Section 1107.     Securities Redeemed in Part.

         Any Security which is to be redeemed only in part shall be surrendered
at a Place of Payment therefor (with, if the Company or the Trustee so requires,
due endorsement by, or a written instrument of transfer in form satisfactory to
the Company and the Trustee duly executed by, the Holder thereof or his attorney
duly authorized in writing), and the Company shall execute, and the Trustee
shall authenticate and deliver to the Holder of such Security without service
charge, a new Security or Securities of the same series and of like tenor, of
any authorized denomination as requested by such Holder, in aggregate principal
amount equal to and in exchange for the unredeemed portion of the principal of
the Security so surrendered.

                                       51
<PAGE>

         Section 1108.     Purchase of Securities.

         Unless otherwise specified as contemplated by SECTION 301, the Company
and any Affiliate of the Company may at any time purchase or otherwise acquire
Securities in the open market or by private agreement. Such acquisition shall
not operate as or be deemed for any purpose to be a redemption of the
indebtedness represented by such Securities. Any Securities purchased or
acquired by the Company may be delivered to the Trustee and, upon such delivery,
the indebtedness represented thereby shall be deemed to be satisfied. SECTION
309 shall apply to all Securities so delivered.

                                 ARTICLE TWELVE

                                  SINKING FUNDS

         Section 1201.     Applicability of Article.

         The provisions of this Article shall be applicable to any sinking fund
for the retirement of Securities of any series except as otherwise specified as
contemplated by SECTION 301 for such Securities.

         The minimum amount of any sinking fund payment provided for by the
terms of any Securities is herein referred to as a "mandatory sinking fund
payment", and any payment in excess of such minimum amount provided for by the
terms of such Securities is herein referred to as an "optional sinking fund
payment". If provided for by the terms of any Securities, the cash amount of any
sinking fund payment may be subject to reduction as provided in SECTION 1202.
Each sinking fund payment shall be applied to the redemption of Securities as
provided for by the terms of such Securities.

         Section 1202.     Satisfaction of Sinking Fund Payments with
                           Securities.

         The Company (1) may deliver Outstanding Securities of a series (other
than any previously called for redemption) and (2) may apply as a credit
Securities of a series which have been redeemed either at the election of the
Company pursuant to the terms of such Securities or through the application of
permitted optional sinking fund payments pursuant to the terms of such
Securities, in each case in satisfaction of all or any part of any sinking fund
payment with respect to any Securities of such series required to be made
pursuant to the terms of such Securities as and to the extent provided for by
the terms of such Securities; provided that the Securities to be so credited
have not been previously so credited. The Securities to be so credited shall be
received and credited for such purpose by the Trustee at the Redemption Price,
as specified in the Securities so to be redeemed, for redemption through
operation of the sinking fund and the amount of such sinking fund payment shall
be reduced accordingly.

         Section 1203.     Redemption of Securities for Sinking Fund.

         Not less than 45 days prior (unless a shorter period shall be
satisfactory to the Trustee) to each sinking fund payment date for any
Securities, the Company will deliver to the Trustee an Officers' Certificate
specifying the amount of the next ensuing sinking fund payment for such
Securities pursuant to the terms of such Securities, the portion thereof, if
any, which is to be

                                       52
<PAGE>

satisfied by payment of cash and the portion thereof, if any, which is to be
satisfied by delivering and crediting Securities pursuant to SECTION 1202 and
will also deliver to the Trustee any Securities to be so delivered. The Trustee
shall select any Securities to be redeemed upon such sinking fund payment date
in the manner specified in SECTION 1103 and cause notice of the redemption
thereof to be given in the name of and at the expense of the Company in the
manner provided in SECTION 1104. Such notice having been duly given, the
redemption of such Securities shall be made upon the terms and in the manner
stated in SECTIONS 1106 AND 1107.

                                ARTICLE THIRTEEN

                    LEGAL DEFEASANCE AND COVENANT DEFEASANCE

         Section 1301.     Company's Option to Effect Legal Defeasance or
                           Covenant Defeasance.

         The Company may at its option, at any time elect to have either SECTION
1302 OR SECTION 1303 applied to the Outstanding Securities of any series upon
compliance with the conditions set forth below in this ARTICLE THIRTEEN.

         Section 1302.     Legal Defeasance and Discharge.

         Upon the Company's exercise of the option provided in SECTION 1301
applicable to this Section, the Company shall be deemed to have been discharged
from its obligations with respect to the Outstanding Securities of any series on
the date the conditions set forth below are satisfied (hereinafter, "LEGAL
DEFEASANCE"). For this purpose, such legal defeasance means that the Company
shall be deemed to have paid and discharged the entire indebtedness represented
by the Outstanding Securities of such series and to have satisfied all its other
obligations under the Securities of such series and this Indenture insofar as
the Securities of such series are concerned (and the Trustee, at the expense of
the Company, shall execute proper instruments acknowledging the same), except
for the following which shall survive until otherwise terminated or discharged
hereunder: (A) the rights of Holders of the Securities of such series to
receive, solely from the trust fund described in SECTION 1304 and as more fully
set forth in such Section, payments in respect of the principal of and any
premium and interest on the Securities of such series when such payments are
due, (B) the Company's obligations with respect to such Securities under
SECTIONS 304, 305, 306, 1002 AND 1003, (C) the rights, powers, trusts, duties
and immunities of the Trustee hereunder and (D) this ARTICLE THIRTEEN. Subject
to compliance with this Article Thirteen, the Company may exercise its option
under this SECTION 1302 notwithstanding the prior exercise of its option under
SECTION 1303.

         Section 1303.     Covenant Defeasance.

         Upon the Company's exercise of the option provided in SECTION 1301
applicable to this Section, (i) the Company shall be released from its
obligations with respect to the Securities of such series under SECTION 801,
SECTION 1006 and SECTION 1007 and any covenants provided pursuant to SECTION 301
for the benefit of the Holders of such Securities (to the extent so provided
pursuant to SECTION 301) and (ii) the occurrence of an event specified in
SECTIONS 501(3) OR (4) shall not be deemed to be an Event of Default on and
after the date the conditions set forth below are satisfied (hereinafter,
"COVENANT DEFEASANCE"). For this purpose,

                                       53
<PAGE>

such covenant defeasance means that the Company may omit to comply with and
shall have no liability in respect of any term, condition or limitation set
forth in any such Section or clause whether directly or indirectly by reason of
any reference elsewhere herein to any such Section or clause or by reason of any
reference in any such Section or clause to any other provision herein or in any
other document, but the remainder of this Indenture and such Securities shall be
unaffected thereby.

         Section 1304.     Conditions to Legal Defeasance or Covenant
                           Defeasance.

         The following shall be the conditions to application of either SECTION
1302 or SECTION 1303 to the then Outstanding Securities of any series:

                  (1) The Company shall irrevocably have deposited or caused to
         be deposited with the Trustee (or another trustee satisfying the
         requirements of SECTION 609 who shall agree to comply with the
         provisions of this Article Thirteen applicable to it) as trust funds in
         trust for the purpose of making the following payments specifically
         pledged as security for, and dedicated solely to, the benefit of the
         Holders of the Securities of such series, (A) money in an amount, or
         (B) Government Obligations which through the scheduled payment of
         principal and interest in respect thereof in accordance with their
         terms will provide, not later than one day before the due date of any
         payment, money in an amount, or (C) a combination thereof, sufficient,
         in the opinion of a nationally recognized firm of independent public
         accountants or a nationally recognized investment banking firm
         expressed in a written certification thereof delivered to the Trustee,
         (if such firms at such time customarily deliver such certifications,
         and, if not, such certification may be from the principal financial
         officer of the Company), to pay and discharge, and which shall be
         applied by the Trustee (or other qualifying trustee) to pay and
         discharge, the principal of, premium, if any, and each installment of
         interest on the Securities on the Stated Maturity of such principal or
         installment of interest in accordance with the terms of this Indenture
         and of the Securities of such series. For this purpose, "GOVERNMENT
         OBLIGATIONS" means, with respect to any series of Securities,
         securities that are (x) direct obligations of the government that
         issued the currency in which such series is denominated (or, if such
         series is denominated in euro, the direct obligations of any government
         that is a member of the European Monetary Union) for the payment of
         which its full faith and credit is pledged or (y) obligations of a
         Person controlled or supervised by and acting as an agency or
         instrumentality of such government the payment of which is
         unconditionally guaranteed as a full faith and credit obligation by
         such government, which, in either case, are not callable or redeemable
         at the option of the issuer thereof and shall also include a depositary
         receipt issued by a bank (as defined in Section 3(a)(2) of the
         Securities Act) as custodian with respect to any Government Obligation
         where the relevant government is the United States of America or a
         specific payment of principal of or interest on any such Government
         Obligation held by such custodian for the account of the holder of such
         depositary receipt, provided that (except as required by law) such
         custodian is not authorized to make any deduction from the amount
         payable to the holder of such depository receipt from any amount
         received by the custodian in respect of such Government Obligation or
         the specific payment of principal of or interest on such Government
         Obligation evidenced by such depository receipt.

                                       54
<PAGE>

                  (2) In the event of an election to have SECTION 1302 apply to
         any Securities or any series of Securities, as the case may be, the
         Company shall have delivered to the Trustee an Opinion of Counsel
         stating that (x) the Company has received from, or there has been
         published by, the Internal Revenue Service a ruling, or (y) since the
         date of this Indenture there has been a change in the applicable
         Federal income tax law, in either case to the effect that, and based
         thereon such opinion shall confirm that, the Holders of the Outstanding
         Securities of such series will not recognize gain or loss for Federal
         income tax purposes as a result of such deposit, defeasance and
         discharge and will be subject to Federal income tax on the same amount,
         in the same manner and at the same times as would have been the case if
         such deposit, defeasance and discharge had not occurred.

                  (3) In the event of an election to have SECTION 1303 apply to
         any Securities or any series of Securities, as the case may be, the
         Company shall have delivered to the Trustee an Opinion of Counsel to
         the effect that the Holders of the Outstanding Securities of such
         series will not recognize gain or loss for Federal income tax purposes
         as a result of such deposit and covenant defeasance and will be subject
         to Federal income tax on the same amount, in the same manner and at the
         same times as would have been the case if such deposit and covenant
         defeasance had not occurred.

                  (4) The Company shall have delivered to the Trustee an
         Officers' Certificate and an Opinion of Counsel, together stating that
         all conditions precedent provided for relating to either the legal
         defeasance under SECTION 1302 or the covenant defeasance under SECTION
         1303 (as the case may be) have been complied with.

                  (5) Such legal defeasance or covenant defeasance shall not
         result in the trust arising from such deposit constituting an
         investment company as defined in the Investment Company Act, or such
         trust shall be qualified under such act or exempt from regulation
         thereunder.

         Section 1305.     Deposited Money and Government Obligations to be
                           Held in Trust; Other Miscellaneous Provisions.

         Subject to the provisions of the last paragraph of SECTION 1003, all
money and Government Obligations (including the proceeds thereof) deposited with
the Trustee (or other qualifying trustee (solely for purposes of this Section
and SECTION 1306, the Trustee and any such other trustee are referred to
collectively, for purposes of this SECTION 1305, as the "TRUSTEE") pursuant to
SECTION 1304 in respect of the Securities of such series shall be held in trust
and applied by the Trustee, in accordance with the provisions of such Securities
of such series and this Indenture, to the payment, either directly or through
any Paying Agent (including the Company acting as its own Paying Agent) as the
Trustee may determine, to the Holders of the Securities of such series, of all
sums due and to become due thereon in respect of principal (and premium, if any)
and interest, but such money need not be segregated from other funds except to
the extent required by law.

         The Company shall pay and indemnify the Trustee against any tax, fee or
other charge imposed on or assessed against the Government Obligations deposited
pursuant to SECTION 1304

                                       55
<PAGE>

or the principal and interest received in respect thereof other than any such
tax, fee or other charge which by law is for the account of the Holders of the
Outstanding Securities.

         Anything in this Article Thirteen to the contrary notwithstanding, the
Trustee shall deliver or pay to the Company from time to time upon Company
Request any money or Government Obligations held by it as provided in SECTION
1304 which, in the opinion of a nationally recognized firm of independent public
accountants (or a nationally recognized investment banking firm or the principal
financial officer of the Company, as appropriate) expressed in a written
certification thereof delivered to the Trustee, are in excess of the amount
thereof which would then be required to be deposited to effect an equivalent
legal defeasance or covenant defeasance.

         Section 1306.     Reinstatement.

         If the Trustee or the Paying Agent is unable to apply any money in
accordance with SECTION 1302 OR 1303 by reason of any order or judgment of any
court or governmental authority enjoining, restraining or otherwise prohibiting
such application, then the Company's obligations under this Indenture and the
Securities of such series shall be revived and reinstated as though no deposit
had occurred pursuant to this ARTICLE THIRTEEN until such time as the Trustee or
Paying Agent is permitted to apply all such money in accordance with SECTION
1302 or 1303; provided, however, that if the Company makes any payment of
principal of (and premium, if any) or interest on any Security following the
reinstatement of its obligations, the Company shall be subrogated to the rights
of the Holders of the Securities of such series to receive such payment from the
money held by the Trustee or the Paying Agent.

         Section 1307.     Deposited Money and Government Obligations to be
                           Held in Trust.

         Subject to the provisions of the last paragraph of SECTION 1003, all
money and Government Obligations (or other property as may be provided pursuant
to SECTION 301) (including the proceeds thereof) deposited with the Trustee
pursuant to SECTION 1304 in respect of any Securities of any series shall be
held in trust and applied by the Trustee, in accordance with the provisions of
such Securities and this Indenture, to the payment, either directly or through
any Paying Agent (including the Company acting as its own Paying Agent) as the
Trustee may determine, to the Holders of such Securities of all sums due and to
become due thereon in respect of principal, premium, if any, and interest, if
any, but such money need not be segregated from other funds except as provided
herein and except to the extent required by law.

                                ARTICLE FOURTEEN

                        MEETING OF HOLDERS OF SECURITIES

         Section 1401.     Purposes for which Meetings may be Called.

         A meeting of Holders of Securities of any or all series of Securities
may be called at any time and from time to time pursuant to this Article to
make, give or take any request, demand, authorization, direction, notice,
consent, waiver or other action provided by this Indenture to be made, given or
taken by Holders of Securities of such series.

                                       56
<PAGE>

         Section 1402.     Call, Notice and Place of Meetings.

                           (a) The Trustee may at any time call a meeting of
                  Holders of Securities of any series for any purposes specified
                  in SECTION 1401, to be held at any such time and at such place
                  in the Borough of Manhattan, the City of New York, as the
                  Trustee shall determine. Notice of every meeting of Holders of
                  Securities of any series, setting forth the time and the place
                  of such meeting and in general terms the action proposed to be
                  taken at such meeting, shall be given, in the manner provided
                  in SECTION 106, not less than 21 nor more than 180 days prior
                  to the date fixed for the meeting.

                           (b) In case at any time the Company, pursuant to a
                  Board Resolution, or the Holders of at least 10% in principal
                  amount of the Outstanding Securities of any series shall have
                  requested the Trustee to call a meeting of the Holders of
                  Securities of such series for any purpose specified in SECTION
                  1401, by written request setting forth in reasonable detail
                  the action proposed to be taken at the meeting, and the
                  Trustee shall not have made the first publication of the
                  notice of such meeting within 21 days after receipt of such
                  request or shall not thereafter proceed to cause the meeting
                  to be held as provided herein, then the Company or the Holders
                  of Securities of such series in the amount above specified, as
                  the case may be, may determine the time and the place in the
                  Borough of Manhattan, the City of New York for such meeting
                  and may call such meeting for such purposes by giving notice
                  thereof as provided in subsection (a) of this Section.

         Section 1403.     Persons Entitled to Vote at Meetings.

         Upon the calling of a meeting of Holders with respect to the Securities
of a series all or part of which are represented by a Security, a record date
shall be established for determining Holders of Outstanding Securities of such
series entitled to vote at such meeting, which record date shall be the close of
business on the day the notice of the meeting of Holders is given in accordance
with SECTION 1402. The Holders on such record date, and their designated
proxies, and only such Persons, shall be entitled to vote at such meeting of
Holders. To be entitled to vote at any meeting of Holders, a Person shall (a) be
a Holder of one or more Securities or (b) be a Person appointed by an instrument
in writing as proxy by a Holder of one or more Securities; provided, however,
that in the case of any meeting of Holders with respect to the Securities of a
series all or part of which are represented by a Security, only Holders, or
their designated proxies, of record on the record date established pursuant to
SECTION 1403 hereof shall be entitled to vote at such meeting. The only Persons
who shall be entitled to be present or to speak at any meeting of Holders shall
be the Persons entitled to vote at such meeting and their counsel and any
representatives of the Trustee and its counsel and any representatives of the
Company and its counsel.

         Section 1404.     Quorum; Action.

         The Persons entitled to vote a majority in principal amount of the
Outstanding Securities of a series shall constitute a quorum for a meeting of
Holders of Securities of such series; provided, however, that if any action is
to be taken at such meeting with respect to a consent or

                                       57
<PAGE>

waiver which this Indenture expressly provides may be given by the Holders of
not less than 50% in principal amount of the Outstanding Securities of a series,
the Persons entitled to vote 50% in principal amount of the Outstanding
Securities of such series shall constitute a quorum. In the absence of a quorum
within 30 minutes of the time appointed for any such meeting, the meeting shall,
if convened at the request of Holders of Securities of such series, be
dissolved. In any other case the meeting may be adjourned for a period of not
less than 10 days as determined by the chairman of the meeting prior to the
adjournment of such meeting. In the absence of a quorum at any such adjourned
meeting, such adjourned meeting may be further adjourned for a period of not
less than 10 days as determined by the chairman of the meeting prior to the
adjournment of such adjourned meeting. Notice of the reconvening of any
adjourned meeting shall be given as provided in SECTION 1402(a), except that
such notice need be given only once not less than five days prior to the date on
which the meeting is scheduled to be reconvened. Notice of the reconvening of an
adjourned meeting shall state expressly the percentage, as provided above, of
the principal amount of the Outstanding Securities of such series which shall
constitute a quorum.

         Except as limited by the proviso to the first paragraph of SECTION 902,
any resolution presented to a meeting or adjourned meeting duly reconvened at
which a quorum is present as aforesaid may be adopted by the affirmative vote of
the Holders of a majority in principal amount of the Outstanding Securities of
that series; provided, however, that, except as limited by the proviso to the
first paragraph of SECTION 902, any resolution with respect to any consent or
waiver which this Indenture expressly provides may be given by the Holders of
not less than 50% in principal amount of the Outstanding Securities of a series
may be adopted at a meeting or an adjourned meeting duly convened and at which a
quorum is present as aforesaid only by the affirmative vote of the Holders of
50% in principal amount of the Outstanding Securities of that series; and
provided, further, that, except as limited by the proviso to the first paragraph
of SECTION 902, any resolution with respect to any request, demand,
authorization, direction, notice, consent, waiver or other action which this
Indenture expressly provides may be made, given or taken by the Holders of a
specified percentage, which is less than a majority, in principal amount of the
Outstanding Securities of a series may be adopted at a meeting or any adjourned
meeting duly reconvened and at which a quorum is present as aforesaid by the
affirmative vote of the Holders of such specified percentage in principal amount
of the Outstanding Securities of that series.

         Any resolution passed or decision taken at any meeting of Holders of
Securities of any series duly held in accordance with this Section shall be
binding on all the Holders of Securities of such series and the related coupons,
whether or not present or represented at the meeting.

         Section 1405.     Determination of Voting Rights; Conduct and
                           Adjournment of Meetings.

                           (a) Notwithstanding any other provisions of this
                  Indenture, the Trustee may make such reasonable regulations as
                  it may deem advisable for any meeting of Holders of Securities
                  of a series in regard to proof of the holding of Securities of
                  such series and of the appointment of proxies and in regard to
                  the appointment and duties of inspectors of votes, the
                  submission and examination of proxies, certificates and other
                  evidence of the right to vote, and such other matters
                  concerning the conduct of the meeting as is shall deem
                  appropriate. Except as

                                       58
<PAGE>

                  otherwise permitted or required by any such regulations, the
                  holding of Securities shall be proved in the manner specified
                  in SECTION 104 and the appointment of any proxy shall be
                  proved in the manner specified in SECTION 104 or by having the
                  signature of the person executing the proxy witnessed or
                  guaranteed by any trust company, bank or banker authorized by
                  SECTION 104. Such regulations may provide that written
                  instruments appointing proxies, regular on their face, may be
                  presumed valid and genuine without the proof specified in
                  SECTION 104 or other proof.

                           (b) The Trustee shall, by an instrument in writing,
                  appoint a temporary chairman of the meeting, unless the
                  meeting shall have been called by the Company or by Holders of
                  Securities as provided in SECTION 1402(b), in which case the
                  Company or the Holders of Securities of the series calling the
                  meeting, as the case may be, shall in like manner appoint a
                  temporary chairman. A permanent chairman and a permanent
                  secretary of the meeting shall be elected by vote of the
                  Persons entitled to vote a majority in principal amount of the
                  Outstanding Securities of such series represented at the
                  meeting.

                           (c) At any meeting each Holder of a Security of such
                  series or proxy shall be entitled to one vote for each $1,000
                  principal amount of the Outstanding Securities of such series
                  held or represented by him; provided, however, that no vote
                  shall be cast or counted at any meeting in respect of any
                  Security challenged as not Outstanding and ruled by the
                  chairman of the meeting to be not Outstanding. The chairman of
                  the meeting shall have no right to vote, except as a Holder of
                  a Security of such series or proxy.

                           (d) Any meeting of Holders of Securities of any
                  series duly called pursuant to SECTION 1402 at which a quorum
                  is present may be adjourned from time to time by Persons
                  entitled to vote a majority in principal amount of the
                  Outstanding Securities of such series represented at the
                  meeting; and the meeting may be held as so adjourned without
                  further notice.

         Section 1406.     Counting Votes and Recording Action of Meetings.

         The vote upon any resolution submitted to any meeting of Holders of
Securities of any series shall be by written ballots on which shall be
subscribed the signatures of the Holders of Securities of such series or of
their representatives by proxy and the principal amounts and serial numbers of
the Outstanding Securities of such series held or represented by them. The
permanent chairman of the meeting shall appoint two inspectors of votes who
shall count all votes cast at the meeting for or against any resolution and who
shall make and file with the secretary of the meeting their verified written
reports in duplicate of all votes cast at the meeting. A record, at least in
duplicate, of the proceedings of each meeting of Holders of Securities of any
series shall be prepared by the secretary of the meeting and there shall be
attached to said record the original reports of the inspectors of votes on any
vote by ballot taken thereat and affidavits by one or more persons having
knowledge of the facts setting forth a copy of the notice of the meeting and
showing that said notice was given as provided in SECTION 1402 and, if
applicable, SECTION 1404. Each copy shall be signed and verified by the
affidavits of the permanent chairman and secretary

                                       59
<PAGE>

of the meeting and one such copy shall be delivered to the Company, and another
to the Trustee to be preserved by the Trustee, the latter to have attached
thereto the ballots voted at the meeting. Any record so signed and verified
shall be conclusive evidence of the matters therein stated.

         This instrument 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.

                                       60
<PAGE>

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

                              MISSION RESOURCES CORPORATION

                              By:
                                  -------------------------------------------
                              Name:
                                  -------------------------------------------
                              Title:
                                     ----------------------------------------

                              THE BANK OF NEW YORK

                              By:
                                  -------------------------------------------
                              Name:
                                  -------------------------------------------
                              Title:
                                  -------------------------------------------

                                       61

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00072-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00072-of-00352.parquet"}]]