Document:

exv4wbwi

 

Exhibit 4.b.i

 

MASCO CORPORATION,

Issuer

AND

BANK ONE TRUST COMPANY, NATIONAL ASSOCIATION

Trustee

 

Indenture

Dated as of February 12, 2001

 

 

 

 

Reconciliation and tie1 between Trust Indenture Act of 1939, as amended, and

Indenture, dated as of February 12, 2001

between

Masco Corporation, Issuer

and

Bank One Trust Company, NA, Trustee

	 	 	 
	Trust Indenture	 	Indenture
	Act Section	 	Section
	§ 310(a)(1)
	 	6.09
	(a)(2)
	 	6.09
	(a)(3)
	 	Not Applicable
	(a)(4)
	 	Not Applicable
	(b)
	 	6.08
	 
	 	6.10
	§ 311(a)
	 	6.13
	(b)
	 	6.13
	(b)(2)
	 	7.03(a)(ii)
	 
	 	 
	§ 312(a)
	 	7.01
	 
	 	7.02(a)
	(b)
	 	7.02(b)
	(c)
	 	7.02(c)
	§ 313(a)
	 	7.03(a)
	(b)
	 	7.03(b)
	(c)
	 	7.03(a), 7.03(b)
	(d)
	 	7.03(c)
	§ 314(a)
	 	7.04
	(b)
	 	Not Applicable
	(c)(1)
	 	1.02
	(c)(2)
	 	1.02
	(c)(3)
	 	Not Applicable
	(d)
	 	Not Applicable
	(e)
	 	1.02
	§ 315 (a)
	 	6.01(a)(i)

 

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

2

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page
	Article 1
	 	 	 	 
	Definitions and Other Provisions
	 	 	 	 
	 
	 	 	 	 
	Section 1.01 Definitions For all purposes of this Indenture,
except as otherwise expressly provided or unless the context
otherwise requires:
	 	 	1	 
	Section 1.02. Compliance Certificates And Opinions
	 	 	8	 
	Section 1.03. Form Of Documents Delivered To Trustee
	 	 	9	 
	Section 1.04. Acts Of Holders
	 	 	9	 
	Section 1.05. Notices, Etc.
	 	 	10	 
	Section 1.06. Notice To Holders; Waiver
	 	 	11	 
	Section 1.07. Conflict With Trust Indenture Act
	 	 	11	 
	Section 1.08. Effect Of Headings And Table Of Contents
	 	 	11	 
	Section 1.09. Successors And Assigns
	 	 	11	 
	Section 1.10. Separability Clause
	 	 	12	 
	Section 1.11. Benefits Of Indenture
	 	 	12	 
	Section 1.12. Governing Law
	 	 	12	 
	Section 1.13. Legal Holidays
	 	 	12	 
	Section 1.14. Counterparts
	 	 	12	 
	 
	 	 	 	 
	Article 2
	 	 	 	 
	Security Forms
	 	 	 	 
	 
	 	 	 	 
	Section 2.01. Forms Generally
	 	 	12	 
	Section 2.02. Securities In Permanent Global Form
	 	 	13	 
	 
	 	 	 	 
	Article 3
	 	 	 	 
	The Securities
	 	 	 	 
	 
	 	 	 	 
	Section 3.01. Amount Unlimited; Issuable In Series
	 	 	14	 
	Section 3.02. Denominations
	 	 	17	 
	Section 3.03. Execution, Authentication, Delivery And Dating
	 	 	17	 
	Section 3.04. Temporary Securities
	 	 	20	 
	Section 3.05. Registration, Registration Of Transfer And Exchange
	 	 	20	 
	Section 3.06. Mutilated, Destroyed, Lost And Stolen Securities
	 	 	23	 
	Section 3.07. Payment Of Interest; Interest Rights Preserved
	 	 	24	 
	Section 3.08. Persons Deemed Owners
	 	 	25	 
	Section 3.09. Cancellation
	 	 	25	 
	Section 3.10. Computation Of Interest
	 	 	26	 
	 
	 	 	 	 
	Article 4
	 	 	 	 
	Satisfaction and Discharge
	 	 	 	 
	 
	 	 	 	 
	Section 4.01. Satisfaction And Discharge Of Indenture
	 	 	26	 
	Section 4.02. Defeasance Of Securities Of Any Series
	 	 	27	 

 

 

	 	 	 	 	 
	 	 	Page
	Section 4.03. Application Of Trust Funds; Indemnification
	 	 	29	 
	Section 4.04. Reinstatement
	 	 	30	 
	 
	 	 	 	 
	Article 5
	 	 	 	 
	Remedies
	 	 	 	 
	 
	 	 	 	 
	Section 5.01. Events Of Default
	 	 	30	 
	Section 5.02. Acceleration Of Maturity; Rescission And Annulment
	 	 	31	 
	Section 5.03. Collection Of Indebtedness And Suits For Enforcement By Trustee
	 	 	32	 
	Section 5.04. Trustee May File Proofs Of Claim
	 	 	33	 
	Section 5.05. Trustee May Enforce Claims Without Possession Of Securities
	 	 	34	 
	Section 5.06. Application Of Money Collected
	 	 	34	 
	Section 5.07. Limitation On Suits
	 	 	35	 
	Section 5.08. Unconditional Right Of Holders To Receive Principal, Premium And Interest
	 	 	35	 
	
Section 5.09. Restoration Of Rights And Remedies
	 	 	35	 
	Section 5.10. Rights And Remedies Cumulative
	 	 	36	 
	Section 5.11. Delay Or Omission Not Waiver
	 	 	36	 
	Section 5.12. Control By Holders
	 	 	36	 
	Section 5.13. Waiver Of Past Defaults
	 	 	36	 
	Section 5.14. Undertaking For Costs
	 	 	37	 
	Section 5.15. Waiver Of Usury, Stay Or Extension Law
	 	 	37	 
	 
	 	 	 	 
	Article 6
	 	 	 	 
	The Trustee
	 	 	 	 
	 
	 	 	 	 
	Section 6.01. Certain Duties And Responsibilities
	 	 	38	 
	Section 6.02. Notice Of Defaults
	 	 	39	 
	Section 6.03. Certain Rights Of Trustee
	 	 	39	 
	Section 6.04. Not Responsible For Recitals Or Issuance Of Securities
	 	 	40	 
	Section 6.05. May Hold Securities
	 	 	40	 
	Section 6.06. Money Held In Trust
	 	 	41	 
	Section 6.07. Compensation And Reimbursement
	 	 	41	 
	Section 6.08. Disqualification; Conflicting Interest
	 	 	41	 
	Section 6.09. Corporate Trustee Required; Eligibility
	 	 	42	 
	Section 6.10. Resignation And Removal; Appointment Of Successor
	 	 	42	 
	Section 6.11. Acceptance Of Appointment By Successor
	 	 	43	 
	Section 6.12. Merger, Conversion, Consolidation Or Succession To Business
	 	 	44	 
	Section 6.13. Preferential Collection Of Claims
	 	 	45	 
	Section 6.14. Appointment Of Authenticating Agent
	 	 	45	 
	 
	 	 	 	 
	Article 7
	 	 	 	 
	Holders’ List And Reports By Trustee And Company
	 	 	 	 
	 
	 	 	 	 
	Section 7.01. Company To Furnish Trustee Names And Addresses Of Holders
	 	 	47	 
	Section 7.02. Preservation Of Information; Communications To Holders
	 	 	47	 
	Section 7.03. Reports By Trustee
	 	 	48	 
	Section 7.04. Reports By Company
	 	 	50	 

ii

 

	 	 	 	 	 
	 	 	Page
	Article 8
	 	 	 	 
	Consolidation, Merger, Conveyance, Transfer Or Lease
	 	 	 	 
	 
	 	 	 	 
	Section 8.01. Company May Consolidate, Etc.
	 	 	50	 
	Section 8.02. Successor Corporation To Be Substituted For Company
	 	 	51	 
	Section 8.03. Securities To Be Secured In Certain Events
	 	 	51	 
	Section 8.04. Evidence To Be Furnished To The Trustee
	 	 	52	 
	 
	 	 	 	 
	Article 9
	 	 	 	 
	Supplemental Indentures
	 	 	 	 
	 
	 	 	 	 
	Section 9.01. Supplemental Indentures Without Consent Of Holders
	 	 	52	 
	Section 9.02. Supplemental Indentures With Consent Of Holders
	 	 	53	 
	Section 9.03. Execution Of Supplemental Indentures
	 	 	54	 
	Section 9.04. Effect Of Supplemental Indentures
	 	 	54	 
	Section 9.05. Conformity With Trust Indenture Act
	 	 	54	 
	Section 9.06. Reference In Securities To Supplemental Indentures
	 	 	54	 
	 
	 	 	 	 
	Article 10
	 	 	 	 
	Covenants
	 	 	 	 
	 
	 	 	 	 
	Section 10.01. Payment Of Principal, Premium And Interest
	 	 	55	 
	Section 10.02. Maintenance Of Office Or Agency
	 	 	55	 
	Section 10.03. Money For Securities Payments To Be Held In Trust
	 	 	55	 
	Section 10.04. Limitations On Liens
	 	 	57	 
	Section 10.05. Limitation On Sale And Leaseback
	 	 	58	 
	Section 10.06. Defeasance Of Certain Obligations
	 	 	59	 
	Section 10.07. Certificate Of Officers Of The Company
	 	 	60	 
	 
	 	 	 	 
	Article 11
	 	 	 	 
	Redemption of Securities
	 	 	 	 
	 
	 	 	 	 
	Section 11.01. Applicability Of Article
	 	 	61	 
	Section 11.02. Election To Redeem; Notice To Trustee
	 	 	61	 
	Section 11.03. Selection By Trustee Of Securities To Be Redeemed
	 	 	61	 
	Section 11.04. Notice Of Redemption
	 	 	62	 
	Section 11.05. Deposit Of Redemption Price
	 	 	62	 
	Section 11.06. Securities Payable On Redemption Date
	 	 	63	 
	Section 11.07. Securities Redeemed In Part
	 	 	63	 
	 
	 	 	 	 
	Article 12
	 	 	 	 
	Sinking Funds
	 	 	 	 
	 
	 	 	 	 
	Section 12.01. Applicability Of Article
	 	 	63	 
	Section 12.02. Satisfaction Of Sinking Fund Payments With Securities
	 	 	64	 
	Section 12.03. Redemption Of Securities For Sinking Fund
	 	 	64	 
	 
	 	 	 	 
	EXHIBIT A — FORM OF SECURITIES
	 	 	A-1	 

iii

 

     INDENTURE, dated as o February 12, 2001, between MASCO CORPORATION, a corporation duly
organized and existing under the laws of the State of Delaware (herein called the “Company”), and
BANK ONE TRUST COMPANY, NATIONAL ASSOCIATION, a national banking association, 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”), to be issued in one or more series as in this
Indenture provided.

     All things necessary to make this Indenture a valid 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 covenanted and agreed, for the equal and proportionate benefit of all
Holders of the Securities or of series thereof, as follows:

ARTICLE 1

Definitions and Other Provisions

     Section 1.01
Definitions. For all purposes of this Indenture, except as otherwise expressly
provided or unless the context otherwise requires:

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

     (b) 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;

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

     (d) 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 6, are defined in that Article.

 

 

     “Act,” when used with respect to any Holder, has the meaning specified in Section 1.04.

     “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.

     “Attributable Debt” means in respect of a sale and leaseback arrangement, at the time of
determination, the lesser of (x) the fair value of the property subject to such arrangement (as
determined by the Board of Directors) or (y) the present value (discounted at the rate per annum
equal to the interest borne by fixed-rate Securities or the Yield to Maturity at the time of
issuance of any Original Issue Discount Securities determined on a weighted average basis
compounded semi-annually) of the total obligations of the lessee for rental payments during the
remaining term of the lease included in such arrangement (including any period for which such lease
has been extended or may, at the option of the lessor, be extended) after excluding all amounts
required to be paid on account of maintenance and repairs, insurance, taxes, assessments, water and
utility rates and similar charges. In the case of any such lease which may be terminated by the
lessee upon the payment of a penalty, such net amount shall also include the amount of such
penalty, but no rent shall be considered as required to be paid under such lease subsequent to the
first date upon which it may be so terminated. Notwithstanding the foregoing, there shall not be
deemed to be any Attributable Debt in respect of a sale and leaseback arrangement if (i) such
arrangement involves property of a type to which Section 10.04 does not apply, (ii) the Company or
a Consolidated Subsidiary would be entitled pursuant to the provisions of Section 10.04(a) to
issue, assume or guarantee Debt (as defined in said Section 10.04(a)), secured by a mortgage upon
the property involved in such arrangement without equally and ratably securing the Securities, or
(iii) the greater of the proceeds of such arrangement or the fair market value of the property so
leased has been applied or credited in accordance with clause (b) of Section 10.05.

     “Authenticating Agent” means any Person authorized by the Trustee to act on behalf of the
Trustee to authenticate Securities.

     “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.

2

 

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

     “Commission” means the Securities and Exchange Commission, as from time to time constituted,
created under the Securities Exchange Act of 1934, or, if at any time after the execution of this
instrument such 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 instrument
until a successor corporation shall have become such pursuant to the applicable provisions of this
Indenture, and thereafter “Company” shall mean such successor corporation.

     “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 President or a Vice President, and by its Treasurer,
an Assistant Treasurer, its Secretary or an Assistant Secretary, and delivered to the Trustee.

     “Consolidated Net Tangible Assets” means the aggregate amount of assets (less applicable
reserves) of the Company and its Consolidated Subsidiaries after deducting therefrom (a) all
current liabilities (excluding any such liabilities deemed to be Funded Debt), (b) all goodwill,
trade names, trademarks, patents, unamortized debt discount and expense and other like intangibles,
and (c) all investments in any Subsidiary other than a Consolidated Subsidiary, in all cases
computed in accordance with generally accepted accounting principles and which under generally
accepted accounting principles would appear on a consolidated balance sheet of the Company and its
Consolidated Subsidiaries. For purposes of the foregoing, the term “investment in any Subsidiary
other than a Consolidated Subsidiary” shall mean all evidences of indebtedness, capital stock,
other securities, obligations or indebtedness of any Subsidiary other than a Consolidated
Subsidiary owned or held by or owed to the Company or any Consolidated Subsidiary, except an
evidence of indebtedness, an account receivable or an obligation or indebtedness on open account
resulting directly from the sale of goods or merchandise or services for fair value in the ordinary
course of business by the Company or the Consolidated Subsidiary to a Subsidiary other than a
Consolidated Subsidiary.

     “Consolidated Subsidiary” means each Subsidiary other than any Subsidiary the accounts of
which (i) are not required by generally accepted accounting principles to be consolidated with
those of the Company for financial reporting purposes, (ii) were not consolidated with those of the
Company in the Company’s then most recent annual report to stockholders and (iii) are not intended
by the Company to be consolidated with those of the Company in its next annual report to
stockholders; provided, however, that the term “Consolidated Subsidiary” shall not include (a) any
Subsidiary which is principally engaged in (i) owning, leasing, dealing in or developing real
property, or (ii) purchasing or financing accounts receivable, making loans, extending credit or
other activities of a character conducted by a finance company or (b) any Subsidiary, substantially
all of the

3

 

business, properties or assets of which were acquired after [date of Indenture] (by way of
merger, consolidation, purchase or otherwise), unless the Board of Directors thereafter designates
such Subsidiary a Consolidated Subsidiary.

     “Corporate Trust Office” means the office of the Trustee in Chicago, Illinois at which at any
particular time corporate trust business shall be principally administered. At the date of
execution of this Indenture the address of the Corporate Trust Office is Bank One Plaza, Suite
IL1-0126, Chicago, IL 60670-0126.

     “Corporation” includes corporations, associations, companies and business trusts.

     “Defaulted Interest” has the meaning specified in Section 3.07.

     “Depositary” means, with respect to the Securities of any series issuable or issued in whole
or in part in the form of one or more permanent global Securities, the Person designated as
Depositary by the Company pursuant to Section 3.01, which must be a clearing agency registered
under the Securities Exchange Act of 1934, as amended, and if at any time there is more than one
such Person, “Depositary” as used with respect to the Securities of any such series shall mean the
Depositary with respect to the Securities of that series.

     “Event of Default” has the meaning specified in Section 5.01.

     “Funded Debt” means all indebtedness having a maturity of more than 12 months from the date of
the determination thereof or having a maturity of less than 12 months but by its terms being
renewable or extendible at the option of the borrower beyond 12 months from the date of such
determination (a) for money borrowed or (b) incurred in connection with the acquisition of any real
or personal property, stock, debt or other assets (to the extent that any of the foregoing
acquisition indebtedness is represented by any notes, bonds, debentures or similar evidences of
indebtedness), and for the payment of which the Company or any Consolidated Subsidiary is directly
or contingently liable, or which is secured by any property of the Company or any Consolidated
Subsidiary.

     “Holder” means a Person in whose name a Security is registered in the Security Register.

     “Indenture” means this instrument as originally executed or 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 and shall include the terms of particular series of Securities
established as contemplated by Section 3.01.

     “Interest,” when used with respect to an Original Issue Discount Security which by its terms
bears interest only upon Maturity, means interest payable after Maturity.

     “Interest Payment Date,” when used with respect to any Security, means the Stated Maturity of
an installment of interest on such Security.

4

 

     “Maturity,” when used with respect to any Security, means the date on which the principal of
such Security or an instalment 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.

     “Officers’ Certificate” means a certificate signed by the 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.

     “Opinion of Counsel” means a written opinion of counsel, who may be counsel for the Company,
and who shall be acceptable to the Trustee.

     “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 5.02.

     “Outstanding,” used with respect to Securities, means, as of the date of determination, all
Securities theretofore authenticated and delivered under this Indenture, except:

     (i) Securities theretofore canceled by the Trustee or delivered to the Trustee for
cancellation;

     (ii) Securities for whose payment or redemption (a) 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 or (b) U.S. Government Obligations as contemplated by Section 4.02
in the necessary amount have been theretofore deposited with the Trustee (or another trustee
satisfying the requirements of Section 6.09) in trust for the Holders of such Securities in
accordance with Section 4.03; 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;

     (iii) Securities as to which defeasance has been effected pursuant to Section 4.02 and not
reinstated pursuant to Section 4.04; and

     (iv) Securities which have been paid pursuant to Section 3.06 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 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 any request, demand, authorization, direction, notice,
consent, waiver or other action hereunder as of any date (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 which would be due and

5

 

payable as of such date upon acceleration of the Maturity thereof to such date pursuant to
Section 5.02, (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 which shall be deemed to be
Outstanding shall be the amount as specified or determined as contemplated by Section 3.01, (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 3.01, of the principal amount of such
Security (or, in the case of a Security described in clause (A) or (B) of this paragraph, 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 Subsidiary 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, only Securities which a Responsible Officer of the Trustee knows to be so
owned shall be so disregarded. Securities so owned which 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.

     “Partnership” means any joint venture, partnership or participation by which the Company with
one or more Persons forms a business arrangement to own or acquire tangible personal property for
the purpose of financing such property and allocating rights to profits and liabilities for losses,
and establishing obligations, among the Company and such Persons relating to such financing.

     “Paying Agent” means any Person authorized by the Company to pay the principal of (and
premium, if any) or interest on any Securities on behalf of the Company.

     “Periodic Offering” means an offering of Securities of a series from time to time, the
specific terms of which Securities, including, without limitation, the rate or rates of interest,
if any, thereon, the stated maturity or maturities thereof and the redemption provisions, if any,
with respect thereto, are to be determined by the Company or its agents upon the issuance of such
Securities.

     “Person” means any individual, corporation, partnership, joint venture, association,
joint-stock company, 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 where the principal of (and premium, if any) and interest on the Securities of that series
are payable as specified as contemplated by Section 3.01.

     “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

6

 

Section 3.06 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.

     “Principal Property” means any manufacturing plant, research or engineering facility owned or
leased by the Company or any Consolidated Subsidiary which is located within the United States of
America or Puerto Rico, except any such plant or facility which, in the opinion of the Board of
Directors, is not of material importance to the total business conducted by the Company and its
Consolidated Subsidiaries as an entirety.

     “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 3.01.

     “Responsible Officer,” when used with respect to the Trustee, means any officer within the
Corporate Trustee Administration Department, including any vice president, any assistant secretary,
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 knowledge of and familiarity with the particular subject.

     “Securities” has the meaning stated in the first recital of this Indenture and more
particularly means any Securities authenticated and delivered under this Indenture.

     “Security Register” and “Security Registrar” have the respective meanings specified in Section
3.05.

     “Special Record Date” for the payment of any Defaulted Interest means a date fixed by the
Trustee pursuant to Section 3.07.

     “Stated Maturity,” when used with respect to any Security or any instalment 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 any corporation of which at least a majority of the outstanding stock
having by the terms thereof ordinary voting power to elect a majority of the board of directors of
such corporation (excluding in the computation of such percentage stock of any class or classes of
such corporation which has or might have voting power by reason of the happening of any
contingency) is at the time owned by the

7

 

Company, or by one or more Subsidiaries, or by the Company and one or more Subsidiaries.

     “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; provided, however, that if at any time there is more than one such Person, “Trustee” as
used with respect to the Securities of any series shall mean only the Trustee with respect to
Securities of that series.

     “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended, as in force on the
date on which this instrument was executed provided, however, that in the event the Trust Indenture
Act of 1939 is amended after such date, “Trust Indenture Act” means, to the extent required by such
amendment, the Trust Indenture Act of 1939 as so amended.

     “U.S. Government Obligations” means securities which are (i) direct obligations of the United
States of America for the payment of which its full faith and credit is pledged or (ii) obligations
of a Person controlled or supervised by and acting as an agency or instrumentality of the United
States of America the payment of which is unconditionally guaranteed as a full faith and credit
obligation by the United States of America, 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 or
trust company as custodian with respect to any such U.S. Government Obligations or a specific
payment of interest on or principal of any such U.S. Government Obligation held by such custodian
for the account of the holder of a depository 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 for any amount received by the custodian with respect to the U.S.
Government Obligation or the specific payment of interest on or principal of the U.S. Government
Obligation.

     “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.”

     “Yield to Maturity” means the yield to maturity on a series of Securities, calculated at the
time of issuance of such series of Securities, or if applicable, at the most recent redetermination
of interest on such series and calculated in accordance with accepted financial practice.

     Section 1.02.
Compliance Certificates And Opinions.

     Unless otherwise provided herein, 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 an Officers’ Certificate stating that all conditions precedent, if any, provided for in
this Indenture relating to the proposed action have been complied with and an Opinion of Counsel
stating that in the opinion of such counsel all

8

 

such conditions precedent, if any, have been complied with and, unless otherwise provided
herein, no additional certificate or opinion need be furnished.

     Every certificate or opinion, other than the Officers’ Certificate called for by Section
10.07, with respect to compliance with a condition or covenant provided for in this Indenture shall
include

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

     (b) 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;

     (c) 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

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

     Section 1.03.
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 1.04. Acts Of Holders.

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     (a) Any request, demand, authorization, direction, notice, consent, waiver or other action
provided by this Indenture to be given 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 an agent
duly appointed in writing; and, 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. If any Securities are denominated in coin or currency
other than that of the United States, then for the purposes of determining whether the Holders of
the requisite principal amount of Securities have taken any action with respect to the Securities
of more than one series as herein described, the principal amount of such Securities shall be
deemed to be that amount of United States dollars that could be obtained for such principal amount
on the basis of the spot rate of exchange into United States dollars for the currency in which such
Securities are denominated (as evidenced to the Trustee by an Officers’ Certificate) as of the date
the taking of such action by the Holders of such requisite principal amount is evidenced to the
Trustee as provided in the immediately preceding sentence. 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. Proof of execution of any such instrument or of a
writing appointing any such agent shall be sufficient for any purpose of this Indenture and
(subject to Section 6.01) conclusive in favor of the Trustee and the Company, if made in the manner
provided in this Section.

     (b) 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.

     (c) The ownership of Securities shall be proved by the Security Register.

     (d) 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.

     Section 1.05.
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,

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     (a) the Trustee by any Holder or by the Company shall be sufficient for every purpose
hereunder if made, given, furnished or filed in writing to or with the Trustee at its Corporate
Trust Office, Attention: Corporate Trust Administration, or at any other address previously
furnished in writing to the Company and the Holders by the Trustee; or

     (b) 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 21001 Van Born Road, Taylor, Michigan 48180 or
at any other address previously furnished in writing to the Trustee by the Company.

     Section 1.06. Notice To Holders; Waiver.

     Where this Indenture provides for notice to Holders of any event, such notice shall be
sufficiently given (unless otherwise herein expressly provided) if in writing and mailed,
first-class postage prepaid, to each Holder affected by such event, at his address as it appears in
the Security Register, not later than the latest date, and not earlier than the earliest date,
prescribed for the giving of such notice. In any case where notice to Holders is given by mail,
neither the failure to mail such notice, nor any defect in any notice so mailed, to any particular
Holder 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 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.

     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 by mail, then such notification as shall be made with
the approval of the Trustee shall constitute a sufficient notification for every purpose hereunder.

     Section 1.07. Conflict With Trust Indenture Act.

     If any provision hereof limits, qualifies or conflicts with another provision hereof which is
required to be included in this Indenture by any of the provisions of the Trust Indenture Act, such
required provision shall control.

     Section 1.08. 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 1.09. Successors And Assigns.

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

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     Section 1.10. 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 1.11. Benefits Of Indenture.

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

     Section 1.12. Governing Law.

     This Indenture and the Securities shall be governed by and construed in accordance with the
laws of the State of New York without regard to any conflicts of laws principles therein.

     Section 1.13. 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, unless otherwise specified in
such Security, 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, provided that no interest shall accrue for the period from and after
such Interest Payment Date, Redemption Date or Stated Maturity, as the case may be.

     Section 1.14. Counterparts.

     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.

ARTICLE 2

Security Forms

     Section 2.01. Forms Generally.

     The Securities of each series shall be in substantially the form set forth in Exhibit A, or in
such other form as shall be established by or pursuant to a Board Resolution or in one or more
indentures supplemental 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 any law

12

 

or any rules or regulations pursuant thereto, or with the rules of any securities exchange or
to conform to general usage, all as may consistently herewith be determined by the officers
executing such Securities, as evidenced by their execution of the Securities. 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 3.03 for the authentication and delivery of such Securities.

     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 2.02. Securities In Permanent Global Form.

     If the Company shall establish pursuant to Section 3.01 that the Securities of a series are to
be issued in whole or in part in permanent global form, then notwithstanding Section 3.01(g) and
the provisions of Section 3.02, 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 or
increased to reflect exchanges. Any endorsement of a Security in permanent 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 or the Security Registrar in such manner and upon instructions
given by such Person or Persons as shall be specified in such Security in permanent global form or
in the Company Order to be delivered to the Trustee pursuant to Section 3.03 or . Subject to the
provisions of Section 3.03 and, if applicable, Section 3.04, the Trustee or the Security Registrar
shall deliver and redeliver any Security in permanent global form in the manner and upon
instructions given by the Person or Persons specified in such Security or in the applicable Company
Order. If a Company Order pursuant to Section 3.03 or 3.04 has been, or simultaneously is,
delivered, any instructions by the Company with respect to endorsement or delivery or redelivery of
a global Security shall be in writing but need not comply with Section 1.02 and need not be
accompanied by an Officers’ Certificate or an Opinion of Counsel, provided that the form of
permanent global Security to be endorsed, delivered or redelivered has previously been covered by
an Opinion of Counsel.

     The provisions of the last sentence of Section 3.03 shall only apply to any Security
represented by a Security in permanent global form if such Security was never issued and sold by
the Company and the Company delivers to the Trustee or the Security Registrar the Security in
permanent global form together with written instructions (which need not comply with Section 1.02
and need not be accompanied by an Officers’ Certificate or 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 3.03.

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     Unless otherwise specified as contemplated by Section 3.01 for the Securities evidenced
thereby, every Security in permanent global form authenticated and delivered hereunder shall bear a
legend in substantially the following form:

     UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY TO THE
ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF THE DEPOSITARY OR ITS NOMINEE AND ANY PAYMENT IS MADE TO THE
DEPOSITARY OR ITS NOMINEE, ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF HAS AN INTEREST HEREIN.

ARTICLE 3

The Securities

     Section 3.01. Amount Unlimited; Issuable In Series.

     The aggregate principal amount of Securities which may be authenticated and delivered under
this Indenture is unlimited. All Securities issued under this Indenture shall constitute unsecured
and unsubordinated obligations of the Company and shall rank pari passu with all of the Company’s
other unsecured and unsubordinated obligations.

     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 3.03, 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

     (a) the title of the Securities of the series (which shall distinguish the Securities of the
series from all other Securities);

     (b) 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 3.04, 3.05, 3.06, 9.06 or 11.07 and except for any Securities which, pursuant
to Section 3.03 of the Indenture, shall have not been issued and sold by the Company and are
therefore deemed never to have been authenticated and delivered hereunder);

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

     (d) the Person to whom any interest on any Security of the series shall be payable if other
than as set forth in Section 3.07; the rate or rates at which any Securities of the series shall
bear interest or the manner of calculation of such rate or rates, if any, the date or dates from
which any such interest shall accrue, the Interest Payment Dates on

14

 

which any such interest shall be payable and the Regular Record Date for the interest payable
on any Interest Payment Date;

     (e) the place or places where the principal of and any premium or interest on Securities of
the series shall be payable;

     (f) the period or periods within which, the price or prices at which and the terms and
conditions upon which 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;

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

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

     (i) if other than the principal amount thereof, the portion of the principal amount of
Securities of the series which shall be payable upon declaration of acceleration of the Maturity
thereof pursuant to Section 5.02;

     (j) if applicable, that the Securities of the series, in whole or any specified part, shall be
defeasible pursuant to Section 4.02 or Section 10.06 (and in the case of defeasance pursuant to
Section 10.06, the negative or restrictive covenants that shall be subject to such defeasance) or
both Sections and if other than by a Board Resolution, the manner in which any election by the
Company to defease those securities shall be evidenced;

     (k) whether the Securities of the series are to be issuable in whole or in part in permanent
global form, without coupons, and, if so, (i) the form of any legend or legends which shall be
borne by any such permanent global Security in addition to or in lieu of that set forth in Section
2.02, (ii) any circumstances in addition to or in lieu of those set forth in Clause 3.05(a) in
which such permanent global Security may be exchanged in whole or in part for Securities
registered, and in which any transfer of such permanent global Security in whole or in part may be
registered, in the name of Persons other than the Depositary for such permanent global Security or
a nominee thereof and (iii) the Depositary with respect to any such permanent global Security or
Securities;

     (l) the currency or currencies, including composite currencies, in which payment of the
principal of, and any premium and interest on, the Securities of the series shall be payable if
other than the currency of the United States of America;

     (m) 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

15

 

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);

     (n) if the amount of payments of principal of, or any premium or interest on, the Securities
of the series may be determined with reference to an index or pursuant to a formula, the manner in
which such amounts shall be determined;

     (o) 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);

     (p) any addition to or change in the Events of Default which applies 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 5.01;

     (q) whether and under what circumstances the Company will pay additional amounts on the
Securities of the series held by a person who is not a U.S. person in respect of any tax,
assessment or governmental charge withheld or deducted and, if so, whether the Company will have
the option to redeem such Securities rather than pay such additional amounts;

     (r) any trustees, depositaries, authenticating or paying agents, transfer agents or registrars
or any other agents with respect to the Securities of such series;

     (s) if the Securities of any series may be converted into or exchanged for stock or other
securities or other property of the Company or other entities, the terms upon which such series may
be converted or exchanged, any specific terms relating to the adjustment thereof and the period
during which such Securities may be so converted or exchanged;

     (t) any addition to or change in the covenants set forth in Article 10 which applies to any
Securities of the series; and

     (u) any other terms of the series (which terms shall not be inconsistent with the provisions
of this Indenture, except as permitted by Section 9.01(e)).

     All Securities of any one series shall be substantially identical except as to denomination
and except as may otherwise be provided in or pursuant to the Board Resolution referred to above
and (subject to Section 3.03) set forth in the Officers’

16

 

Certificate that established the form of the Securities of such series or in any such
indenture supplemental hereto.

     All Securities of any one series need not be issued at the same time and may be issued from
time to time, consistent with the terms of this Indenture, if so provided in or pursuant to such
Board Resolution, such Officers’ Certificate 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 3.02. Denominations.

     The Securities of each series shall be issuable in registered form without coupons and, except
for any Security issuable in permanent global form, in such denominations as shall be specified in
accordance with . In the absence of such provisions with respect to the Securities of any series,
the Securities of such series, other than a Security issuable in permanent global form, shall be
issuable in denominations of $1,000 and any multiple thereof.

     Section 3.03. Execution, Authentication, Delivery And Dating.

     The Securities shall be executed on behalf of the Company by its Chairman of the Board, its
President, one of its Vice Presidents or its Treasurer, 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 the applicable documents referred to below in this Section, and the
Trustee shall thereupon authenticate and deliver such Securities to or upon the order of the
Company (contained in the Company Order referred to below in this Section) or pursuant to such
procedures acceptable to the Trustee and to such recipients as may be specified from time to time
by a Company Order. The maturity date, original issue date, interest rate and any other terms of
the Securities of such series shall be determined by or pursuant to such Company Order and
procedures. If provided for in such procedures, such Company Order may authorize authentication and
delivery pursuant to oral instructions from the Company or its duly authorized agent, which
instructions shall be promptly confirmed in writing. In authenticating such Securities, and
accepting the additional responsibilities under this Indenture in relation to such

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Securities, the Trustee shall be entitled to receive (in the case of subparagraphs 3.03(ii),
3.03(iii) and 3.03(iv) below, only at or before the time of the first request of the Company to the
Trustee to authenticate Securities of such series) and (subject to Section 6.01) shall be fully
protected in relying upon, unless and until such documents have been superseded or revoked:

     (i) a Company Order requesting such authentication and setting forth delivery
instructions if the Securities are not to be delivered to the Company, provided that, with
respect to Securities of a series subject to a Periodic Offering, (a) such Company Order
may be delivered by the Company to the Trustee prior to the delivery to the Trustee of such
Securities for authentication and delivery, (b) the Trustee shall authenticate and deliver
Securities of such series for original issue from time to time, in an aggregate principal
amount not exceeding the aggregate principal amount, if any, established for such series,
pursuant to a Company Order or pursuant to procedures acceptable to the Trustee as may be
specified from time to time by a Company Order, (c) the maturity date or dates, original
issue date or dates, interest rate or rates and any other terms of Securities of such
series shall be determined by a Company Order or pursuant to such procedures and (d) if
provided for in such procedures, such Company Order may authorize authentication and
delivery pursuant to oral or electronic instructions from the Company or its duly
authorized agent or agents, which oral instructions shall be promptly confirmed in writing;

     (ii) any Board Resolution, Officers’ Certificate and/or executed supplemental
indenture referred to in Sections 2.01 and 3.01 by or pursuant to which the forms and terms
of the Securities were established;

     (iii) an Officers’ Certificate setting forth the form or forms and (to the extent
established) the terms of the Securities, stating that the form or forms and any such terms
of the Securities have been established pursuant to Sections 2.01 and 3.01 and comply with
this Indenture, and covering such other matters as the Trustee may reasonably request; and

     (iv) At the option of the Company, either an Opinion of Counsel, or a letter addressed
to the Trustee permitting to it rely on an Opinion of Counsel, substantially to the effect
that:

     (A) the forms of the Securities have been duly authorized and established in
conformity with the provisions of this Indenture;

     (B) if all of the terms of the Securities of such series have been
established, the terms of the Securities have been duly authorized by the Company
and established in conformity with the provisions of this Indenture, and, in the
case of all other offerings, certain terms of the Securities have been
established pursuant to a Board Resolution, an Officers’ Certificate or a
supplemental indenture in accordance with this Indenture, and when such other
terms as are to be established pursuant to

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procedures set forth in a Company Order shall have been established, all such
terms will have been duly authorized by the Company and will have been established
in conformity with the provisions of this Indenture;

     (C) when the Securities have been executed by the Company and authenticated
by the Trustee in accordance with the provisions of this Indenture and delivered
to and duly paid for by the purchasers thereof, they will have been duly issued
under this Indenture and will be valid and legally binding obligations of the
Company, enforceable in accordance with their respective terms, and will be
entitled to the benefits of this Indenture; and

     (D) the execution and delivery by the Company of, and the performance by the
Company of its obligations under, the Securities will not contravene any provision
of applicable law or the certificate of incorporation or by-laws of the Company
or, to the best of such counsel’s knowledge, any agreement or other instrument
binding upon the Company or any of its subsidiaries that is material to the
Company and its subsidiaries, considered as one enterprise, or, to the best of
such counsel’s knowledge, any judgment, order or decree of any governmental body,
agency or court having jurisdiction over the Company or any subsidiary, and no
consent, approval or authorization of any governmental body or agency is required
for the performance by the Company of its obligations under the Securities, except
such as are specified and have been obtained and such as may be required by the
securities or blue sky laws of the various states in connection with the offer and
sale of the Securities.

     In rendering such opinions, such counsel may qualify any opinions as to enforceability by
stating that such enforceability may be limited by bankruptcy, insolvency, reorganization,
liquidation, moratorium and other similar laws affecting the rights and remedies of creditors and
is subject to general principles of equity (regardless of whether such enforceability is considered
in a proceeding in equity or at law). Such counsel may rely upon opinions of other counsel (copies
of which shall be delivered to the Trustee), who shall be counsel reasonably satisfactory to the
Trustee, in which case the opinion shall state that such counsel believes he and the Trustee are
entitled so to rely. Such counsel may also state that, insofar as such opinion involves factual
matters, he has relied, to the extent he deems proper, upon certificates of officers of the Company
and its subsidiaries and certificates of public officials.

     The Trustee shall have the right to decline to authenticate and deliver any Securities under
this Section if the Trustee, being advised by counsel, determines that such action may not lawfully
be taken by the Company or if the Trustee in good faith by its board of directors or board of
trustees, executive committee, or a trust committee of directors or trustees or Responsible
Officers shall determine that such action would expose the Trustee to personal liability to
existing Holders or would affect the Trustee’s own rights, duties or immunities under the
Securities, this Indenture or otherwise.

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     Each Security shall be dated the date of its authentication. Unless otherwise specified as
contemplated by Section 3.01 for any Security, interest on the each Security will accrue from 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 and is entitled to the benefits of this Indenture.

     Notwithstanding the foregoing and subject, in the case of a Security in permanent global form,
to Section 2.02, 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 3.09 together with a written statement (which need not comply
with Section 1.02 and need not be accompanied by an Opinion of Counsel) directing such cancellation
and stating that such Security has never been issued and sold by the Company, 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 3.04. 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
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 such 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 a like
principal amount of definitive Securities of the same series and of like tenor of authorized
denominations. Until so exchanged the temporary Securities of any series shall in all respects be
entitled to the same benefits under this Indenture as definitive Securities of such series.

     Section 3.05. Registration, Registration Of Transfer And Exchange.

     The Company shall cause to be kept at the Corporate Trust Office of the Trustee a register
(the register maintained in such office and in any other office or agency of the

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Company in a Place of Payment being herein 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 transfers of Securities. The Trustee is hereby
appointed “Security Registrar” for the purpose of registering Securities and transfers of
Securities as herein provided.

     Upon surrender for registration of transfer of any Security of any series at the office or
agency 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 a like aggregate principal
amount and of like tenor.

     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 a like aggregate principal amount and of
like tenor, 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 which 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) be duly endorsed, or be accompanied by a written
instrument of transfer in form satisfactory to the Company and the Security Registrar 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 3.04, 9.06 or 11.07 not involving any
transfer.

     The Company shall not be required (i) to issue, register the transfer of or exchange
Securities of any series during a period beginning at the opening of business 15 days before the
day of the mailing of a notice of redemption of Securities of that series selected for redemption
under Section 11.03 and ending at the close of business on the day of such mailing, or (ii) to
register the transfer of or exchange any Security so selected for redemption in whole or in part,
except the unredeemed portion of any Security being redeemed in part.

     The provisions of Clauses (a) — (g) below shall apply only to permanent global Securities:

21

 

     (a) Each permanent global Security authenticated under this Indenture shall be registered in
the name of the Depositary designated for such permanent global Security or a nominee thereof and
delivered to such Depositary or a nominee thereof or custodian therefor, and each such permanent
global Security shall constitute a single Security for all purposes of this Indenture.

     (b) Notwithstanding any other provisions in this Indenture, no permanent global Security may
be exchanged in whole or in part for Securities registered, and no transfer of a permanent global
Security in whole or in part may be registered, in the name of any Person other than the Depositary
for such permanent global Security or a nominee thereof unless (i) the Depositary notifies the
Company pursuant to Clause 3.05(c) of this Section that it is unwilling or unable to continue as
Depositary for such permanent global Security or if at any time the Depositary ceases to be a
clearing agency registered under the Securities Exchange Act of 1934, as amended, (ii) if the
Company in its sole discretion determines pursuant to Clause 3.05(d) of this Section that such
permanent global Security shall be so exchangeable or transferrable and executes and delivers to
the Security Registrar a Company Order providing that such permanent global Security shall be so
exchangeable or transferrable, (iii) any event shall have occurred and be continuing which, after
notice or lapse of time, or both, would become an Event of Default with respect to the Securities
of the series of which such permanent global Security is a part or (iv) there shall exist such
circumstances, if any, in addition or in lieu of the foregoing as have been specified for this
purpose as contemplated by Section 3.01.

     (c) Subject to Clause 3.05(a) above, any exchange of a permanent global Security for other
Securities may be made in whole or in part, and all Securities issued in exchange for a permanent
global Security or any portion thereof shall be registered in such names as the Depositary for such
permanent global Security shall direct. The Trustee shall deliver such Securities to or as
directed by the Persons in whose names such Securities are so registered.

     (d) If at any time the Depositary for any Securities of a series represented by one or more
global Securities notifies the Company that it is unwilling or unable to continue as Depositary for
such Securities or if at any time the Depositary ceases to be a clearing agency registered under
the Securities Exchange Act of 1934, as amended, the Company shall appoint a successor Depositary
with respect to such Securities. If a successor Depositary for such Securities is not appointed by
the Company within 90 days after the Company receives such notice or becomes aware of such
ineligibility (and in any event before the Depositary surrenders such global Security for
exchange), the Company’s election that such Securities be represented by one or more global
Securities shall no longer be effective and the Company shall execute, and the Trustee, upon
receipt of an Officers’ Certificate for the authentication and delivery of definitive Securities of
such series, will authenticate and deliver, Securities of such series in definitive registered form
without coupons, in any authorized denominations, in an aggregate principal amount equal to the
principal amount of the global Security or Securities representing such Securities in exchange for
such global Security or Securities.

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     (e) The Company may at any time and in its sole discretion determine that the Securities of
any series issued in the form of one or more global Securities shall no longer be represented by a
global Security or Securities. In such event the Company will execute, and the Trustee, upon
receipt of an Officers’ Certificate for the authentication and delivery of definitive Securities of
such series, will authenticate and deliver Securities of such series in definitive registered form,
in any authorized denominations, in an aggregate principal amount equal to the principal amount of
the global Security or Securities representing such Securities, in exchange for such global
Security or Securities.

     (f) Subject to Clause 3.05(a) above, with respect to Securities represented by a global
Security, the Depositary for such global Security may surrender such global Security in exchange in
whole or in part for Securities of the same series in definitive registered form on such terms as
are acceptable to the Company and such Depositary. Thereupon, the Company shall execute, and the
Trustee shall authenticate and deliver, without service charge,

     (i) to the Person specified by such Depositary a new Security or Securities of the
same series, of any authorized denomination as requested by such Person, in an aggregate
principal amount equal to and in exchange for such Person’s beneficial interest in the
global Security; and

     (ii) to such Depositary a new global Security in a denomination equal to the
difference, if any, between the principal amount of the surrendered global Security and the
aggregate principal amount of Securities authenticated and delivered pursuant to clause
3.05(f)(i) above.

     Upon the exchange of a global Security for Securities in definitive registered form, in
authorized denominations, such global Security shall be canceled by the Trustee.

     (g) Every Security authenticated and delivered upon registration of transfer of, or in
exchange for or in lieu of, a permanent global Security or any portion thereof, whether pursuant to
this Section, Section 3.04, 3.06, 9.06 or 11.07 or otherwise, shall be authenticated and delivered
in the form of, and shall be, a permanent global Security, unless such Security is registered in
the name of a Person other than the Depositary for such permanent global Security or a nominee
thereof.

     Section 3.06. 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

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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.

     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.

     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 3.07. Payment Of Interest; Interest Rights Preserved.

     Unless otherwise provided as contemplated by Section 3.01 with respect to any Security,
interest on such 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; provided that if that Security or its Predecessor Security was originally issued on a
date after a Regular Record Date and before the following Interest Payment Date, the first payment
of interest on such Security will be made on the Interest Payment Date following the next
succeeding Regular Record Date. Unless otherwise specified as contemplated by Section 3.01 for any
Security, interest payable at Maturity (other than on a date which is an Interest Payment Date)
will be paid to the same Person to whom the principal amount of this Security is payable.

     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 (a) or (b) below:

     (a) 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 for the

24

 

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 mailed, first-class postage prepaid,
to each Holder of Securities of such series at his address as it appears in the Security Register,
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 3.07(b).

     (b) 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 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, 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 3.08. 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
premium, if any) and (subject to Section 3.07) interest on such Security and for all other purposes
whatsoever, whether or not such Security is 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 3.09. Cancellation.

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     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 canceled 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 canceled by the Trustee. No Securities shall be authenticated in lieu
of or in exchange for any Securities canceled as provided in this Section, except as expressly
permitted by this Indenture. All canceled Securities held by the Trustee shall be disposed of as
directed by a Company Order.

     Section 3.10. Computation Of Interest.

     Except as otherwise specified as contemplated by Section 3.01 for any Security, interest on
the Securities of each series shall be computed on the basis of a 360-day year consisting of 12
30-day months.

ARTICLE 4

Satisfaction and Discharge

     Section 4.01. 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 the Trustee, at the expense of the Company, shall execute proper instruments
acknowledging satisfaction and discharge of this Indenture, when

     (a) either

     (i) all Securities theretofore authenticated and delivered (other than (x) Securities
which have been destroyed, lost or stolen and which have been replaced or paid as provided
in Section 3.06 and (y) 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 10.03) have been delivered to
the Trustee for cancellation; or

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

     (A) have become due and payable, or

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

26

 

     (C) 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 (A), (B) or (C) above has deposited or caused to
be deposited with the Trustee as trust funds in trust for the purpose 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 or 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;

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

     (c) 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 Sections 4.03(b) and 6.07, the obligations of the Trustee to any
Authenticating Agent under Section 6.14 and, if money shall have been deposited with the Trustee
pursuant to subclause 4.01(a)(ii), the obligations of the Trustee under Section 4.03 and the last
paragraph of Section 10.03 shall survive.

     Section 4.02. Defeasance Of Securities Of Any Series.

     Unless otherwise specified pursuant to Section 3.01 with respect to any Security, then
notwithstanding Section 4.01, the Company shall be deemed to have paid and discharged the entire
indebtedness on all the Outstanding Securities of any series on the 91st day after the date of the
deposit referred to in subparagraph 4.02(d) hereof, and the provisions of this Indenture, as it
relates to such Outstanding Securities, shall no longer be in effect (and the Trustee, at the
expense of the Company, shall at Company Request, execute proper instruments acknowledging the
same) (hereinafter called “Defeasance”), except as to:

     (a) the rights of Holders of Securities to receive, from the trust funds described in
subparagraph 4.02(d) hereof, (i) payment of the principal of and any premium or interest on the
Outstanding Securities of that series on the Stated Maturity of such principal or installment of
principal or interest and (ii) the benefit of any mandatory sinking fund payments or analogous
payments applicable to Securities of such series on the day on which such payments are due and
payable in accordance with the terms of the Indenture and such Securities;

     (b) the Company’s obligations with respect to such Securities under Sections 3.05, 3.06, 4.03,
10.02 and 10.03; and

27

 

     (c) the rights, powers, trusts, duties and immunities of the Trustee hereunder;

     provided that the following conditions have been satisfied:

     (d) with reference to this provision, the Company has irrevocably deposited or caused to be
irrevocably deposited with the Trustee as trust funds 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 that series, (i) money in an amount, or (ii) U.S. Government Obligations which
through the payment of interest and principal in respect thereof in accordance with their terms
will provide not later than one day before the due date of any payment referred to in clause (A) or
(B) of this subparagraph 4.02(d) money in an amount, or (iii) a combination thereof, sufficient, in
the opinion of a nationally recognized firm of independent public accountants expressed in a
written certification thereof delivered to the Trustee, to pay and discharge, and which shall be
applied by the Trustee for such purposes, (A) the principal of and any premium or interest on the
Outstanding Securities of that series on the Stated Maturity of such principal or installment of
principal or interest on the Redemption Date, as the case may be, and (B) any mandatory sinking
fund payments or analogous payments applicable to Securities of such series on the day on which
such payments are due and payable, each in accordance with the terms of this Indenture and of such
Securities;

     (e) such Defeasance shall not cause the Trustee with respect to the Securities of that series
to have a conflicting interest as defined in Section 6.08 and for purposes of the Trust Indenture
Act with respect to the Securities of any series;

     (f) such Defeasance will not result in a breach or violation of, or constitute a default
under, this Indenture or any other agreement or instrument to which the Company is a party or by
which it is bound;

     (g) such Defeasance would not cause any Outstanding Security of such series then listed on any
nationally recognized securities exchange to be then delisted as a result thereof;

     (h) no Event of Default or event which with notice or lapse of time would become an Event of
Default with respect to Securities of the series shall have occurred and be continuing on the date
of such deposit or during the period ending on the 91st day after such date;

     (i) the Company has delivered to the Trustee an Opinion of Counsel based on the fact that (x)
the Company has received from, or there has been published by, the Internal Revenue Service a
ruling or (y) since the date hereof, there has been a change in the applicable Federal income tax
law, in either case to the effect that, and such opinion shall confirm that, the Holders of the
Securities of such series will not recognize income, 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 and in the same manner and at the same times, as would have been the case if such
deposit, defeasance and discharge had not occurred;

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     (j) the Company has delivered to the Trustee an Opinion of Counsel stating that (i) such
deposit, defeasance and discharge would not cause any outstanding Security of such series then
listed on any nationally recognized securities exchange to be delisted as a result thereof; and
(ii) and that such Defeasance would not result in the trust arising from such deposit constituting
an investment company within the meaning of the Investment Company Act of 1940, as amended from
time to time;

     (k) the Company has delivered to the Trustee an Opinion of Counsel to the effect that after
the 91st day following the deposit, the trust funds will not be subject to the effect of any
applicable bankruptcy, insolvency, reorganization or similar laws affecting creditors’ rights
generally, except that if a court were to rule under any such law in any case or proceeding that
the trust funds remained property of the Company, no opinion is given as to the effect of such laws
on the trust funds except the following: (A) assuming such trust funds remained in the Trustee’s
possession prior to such court ruling to the extent not paid to Holders of Securities, the Trustee
will hold, for the benefit of such Holders, a valid and perfected security interest in such trust
funds that is not avoidable in bankruptcy or otherwise, and (B) such Holders will be entitled to
receive adequate protection of their interests in such trust funds if such trust funds are used;
and

     (l) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that all conditions precedent provided for relating to the Defeasance
contemplated by this provision have been complied with.

     Section 4.03. Application Of Trust Funds; Indemnification.

     (a) Subject to the provisions of the last paragraph of Section 10.03, all money deposited with
the Trustee pursuant to Section 4.01, all money and U.S. Government Obligations deposited with the
Trustee pursuant to Section 4.02 or Section 10.06 and all money received by the Trustee in respect
of U.S. Government Obligations deposited with the Trustee pursuant to Section 4.02 or Section 10.06
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 premium, if any) and interest for whose payment such money has been deposited
with or received by the Trustee or to make mandatory sinking fund payments or analogous payments as
contemplated by Section 4.02 or Section 10.06, as the case may be.

     (b) The Company shall pay and shall indemnify the Trustee against any tax, fee or other charge
imposed on or assessed against U.S. Government Obligations deposited pursuant to Section 4.02 or
Section 10.06 or the interest and principal received in respect of such obligations other than any
payable by or on behalf of Holders.

     (c) The Trustee shall deliver or pay to the Company from time to time upon Company Request any
money or U.S. Government Obligations held by it as provided in Section 4.02 or 10.06 which, in the
opinion of a nationally recognized firm of independent public accountants expressed in a written
certification thereof delivered to

29

 

the Trustee, are then in excess of the amount which then would have been required to be
deposited for the purpose for which such money or U.S. Government Obligations were deposited or
received.

     Section 4.04. Reinstatement.

     If the Trustee or the Paying Agent is unable to apply any money in accordance with Section
4.02 or 10.06 with respect to any Securities by reason of any order or judgment of any court or
governmental authority enjoining, restraining or otherwise prohibiting such application or upon the
occurrence of an Event of Default, then the obligations under this Indenture and such Securities
from which the Company has been discharged or released pursuant to Section 4.02 or 10.06 shall be
revived and reinstated as though no deposit had occurred pursuant to this Article with respect to
such Securities, until such time as the Trustee or Paying Agent is permitted to apply all money
held in trust pursuant to Section 4.03 with respect to such Securities in accordance with this
Article; provided, however, that if the Company makes any payment of principal of or any premium or
interest on any such Security following such reinstatement of its obligations, the Company shall be
subrogated to the rights (if any) of the Holders of such Securities to receive such payment from
the money so held in trust.

ARTICLE 5

Remedies

     Section 5.01. 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):

     (a) 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

     (b) default in the payment of the principal of (or premium, if any, on) any Security of that
series at its Maturity; or

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

     (d) 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 a series of Securities other than that series), and continuance
of such default or breach for a period

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of 90 days 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 each series affected thereby 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

     (e) 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 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
60 consecutive days; or

     (f) 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, or 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 the appointment of or taking
possession by a custodian, receiver, liquidator, assignee, trustee, sequestrator or similar
official of the Company or of any substantial part of its property, or the making by it of any
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 the taking of corporate action by the Company in
furtherance of any such action; or

     (g) any events of default provided with respect to Securities of that series.

     Section 5.02. Acceleration Of Maturity; Rescission And Annulment.

     If an Event of Default described in clause 5.01(a), 5.01(b), 5.01(c), 5.01(d) or 5.01(g) 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 such series (each such series voting as a separate class in the case of an Event of
Default under clause 5.01(a), 5.01(b), 5.01(c) or 5.01(g), and all such series voting as one class
in the case of such an Event of Default under clause 5.01(d)) may declare the principal amount (or,
if any Securities are Original Issue Discount Securities, such portion of the principal amount as
may be specified in the terms of such Securities) of all of the Securities of such series 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)

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shall become immediately due and payable. If any Event of Default described in clause 5.01(d)
with respect to all series of Securities then Outstanding, or any Event of Default described in
clause 5.01(e) or 5.01(f) occurs and is continuing, then in every such case the Trustee or the
Holders of not less than 25% in aggregate principal amount of all the Outstanding Securities
(voting as one class) may declare the principal amount (or, if any Securities are Original Issue
Discount Securities, such portion of the principal amount as may be specified in the terms of such
Securities) of all the Securities then Outstanding 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.

     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

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

     (i) the overdue interest on all Securities of the series,

     (ii) 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 interest thereon at
the interest rate or rates prescribed in such Securities,

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

     (iv) all sums paid or advanced by the Trustee hereunder and the reasonable
compensation, expenses, disbursements and advances of the Trustees, its agents and counsel
and all other amounts due under Section 6.07;

     and

     (b) 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 have become due solely by such declaration of
acceleration, have been cured or waived as provided in Section 5.13.

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

     Section 5.03. Collection Of Indebtedness And Suits For Enforcement By Trustee.

     The Company covenants that if

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     (a) 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

     (b) 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
premium, if any) and interest and, to the extent that payment of such interest shall be legally
enforceable, interest on any overdue principal (and premium, if any) 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 sufficient to cover the costs and expenses of collection, including the
reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and
counsel, other than those incurred due to the Trustee’s bad faith or negligence.

     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 most effectual 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 therein, or to enforce any other proper remedy.

     Section 5.04. 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 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 or interest) shall be entitled and empowered, by intervention in such proceeding or
otherwise,

     (a) to file and prove a claim for the whole amount of principal (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

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and advances of the Trustee, its agents and counsel) and of the Holders allowed in such
judicial proceeding, and

     (b) to collect and receive any moneys 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 6.07.

     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 Holders hereof or to authorize the
Trustee to vote in respect of the claim of any Holder in any such proceeding.

     Section 5.05. 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 5.06. 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 premium, if any) 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 this Indenture;
and

     SECOND: To the payment of the amounts then due and unpaid for principal of
(and premium, if any) 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 premium, if any) and interest, respectively.

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     Section 5.07. Limitation On Suits.

     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

     (a) such Holder has previously given written notice to the Trustee of a continuing Event of
Default with respect to the Securities of that series;

     (b) 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;

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

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

     (e) 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 all 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 5.08. 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
premium, if any) and (subject to Section 3.07) interest on such Security on the Stated Maturity or
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 5.09. 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

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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 5.10. 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 3.06, 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
hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other
appropriate right or remedy..

     Section 5.11. 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 which shall have occurred and shall be continuing
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 5.12. Control By Holders.

     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, with
respect to the Securities of such series, provided that

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

     (b) the Trustee may take any other action deemed proper by the Trustee which is not
inconsistent with such direction, and

     (c) the Trustee shall have the right to decline any direction with respect to which a
Responsible Officer reasonably determines such direction will cause the Trustee to incur any
liability for which it shall not have been adequately indemnified pursuant to Section 5.07.

     Section 5.13. Waiver Of Past Defaults.

     The Holders of (i) not less than a majority in principal amount of the Outstanding Securities
of any series (each such series voting as a separate class) may on behalf of the Holders of all
Securities of such series waive any past default or Event of Default described in clause 5.01(d)
which relates to less than all series of Outstanding Securities

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or described in clause 5.01(g) with respect to such series and its consequences, or (ii) not
less than a majority in principal amount of the Outstanding Securities affected thereby (voting as
one class) may on behalf of the Holders of all the Outstanding Securities affected thereby waive
any past default or Event of Default described in said clause 5.01(d) which relates to all such
Outstanding Securities and its consequences, except in any such case a default

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

     (b) in respect of a covenant or provision hereof which under Article 9 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 5.14. 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 any court may in its discretion require, 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, the filing by any party litigant in such suit
of an undertaking to pay the costs of such suit, and that such court may in its discretion assess
reasonable costs, including reasonable attorneys’ fees, against any party litigant in such suit,
having due regard to the merits and good faith of the claims or defenses made by such party
litigant; but the provisions of this Section shall not apply to any suit instituted by the Company,
to any suit instituted by the Trustee, to any suit instituted by any Holder, or group of Holders,
holding in the aggregate more than 25% in principal amount of the Outstanding Securities of any
series or to any suit instituted by any Holder for the enforcement of the payment of the principal
of (or premium, if any) or interest on any Security on or after the Stated Maturity or Maturities
expressed in such Security (or, in the case of redemption, on or after the Redemption Date).

     Section 5.15. Waiver Of Usury, Stay Or Extension Law.

     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 of 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.

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ARTICLE 6

The Trustee

     Section 6.01. Certain Duties And Responsibilities.

     (a) Except during the continuance of an Event of Default,

     (i) the Trustee undertakes to perform such duties and only such duties as specifically
set forth in this Indenture, and no implied covenants or obligations shall be read into
this Indenture against the Trustee; and

     (ii) in the absence of bad faith on its part, the Trustee may conclusively rely, as to
the truth of the statements and the correctness of the opinions expressed therein, upon
certificates or opinions furnished to the Trustee and conforming to the requirements of
this Indenture; but in the case of any such certificates or opinions which by any provision
hereof are specifically required to be furnished to the Trustee, the Trustee shall be under
a duty to examine the same to determine whether or not they conform to the requirements of
this Indenture.

     (b) In case an Event of Default has occurred and is continuing, the Trustee shall exercise
such of the rights and powers vested in it by this Indenture, and use the same degree of care and
skill in their exercise, as a prudent man would exercise or use under the circumstances in the
conduct of his own affairs.

     (c) No provision of this Indenture shall be construed to relieve the Trustee from liability
for its own negligent action, its own negligent failure to act, or its own wilful misconduct,
except that

     (i) this Subsection shall not be construed to limit the effect of Subsection 6.01(a);

     (ii) the Trustee shall not be liable for any error of judgment made in good faith by a
Responsible Officer, unless it shall be proved that the Trustee was negligent in
ascertaining the pertinent facts;

     (iii) the Trustee shall not be liable with respect to any action taken or omitted to
be taken by it in good faith in accordance with the direction of the Holders of a majority
in principal amount of the Outstanding Securities of any series, determined as provided in
Section 5.12, relating to the time, method and place of conducting any proceeding for any
remedy available to the Trustee, or exercising any trust or power conferred upon the
Trustee, under this Indenture with respect to the Securities of such series; and

     (iv) 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.

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     (d) 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 6.02. Notice Of Defaults.

     Within 90 days after receipt by the Trustee of written notice of the occurrence of any default
hereunder with respect to the Securities of any series the Trustee shall transmit in the manner and
to the extent provided in Section 7.03(d), notice of such default hereunder known to the Trustee,
unless such default shall have been cured or waived; provided, however, that, except in the case of
a default in the payment of the principal of (or premium, if any) or interest on any Security of
such series or in the payment of any sinking fund installment with respect to Securities of such
series, the Trustee shall be protected in withholding such notice if and so long as the board of
directors, the executive committee or a trust committee of directors or Responsible Officers of the
Trustee in good faith determine that the withholding of such notice is in the interest of the
Holders of Securities of such series; and provided, further, that in the case of any default of the
character specified in Section 5.01(d) 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 6.03. Certain Rights Of Trustee.

     Subject to the provisions of Section 6.01:

     (a) the Trustee may rely and shall be protected in acting or refraining from acting upon any
resolution, certificate, statement, instrument, opinion, report, notice, request, direction,
consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document
believed by it to be genuine and to have been signed or presented by the proper party or parties;

     (b) 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 may be
sufficiently evidenced by a Board Resolution;

     (c) 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 bad faith
on its part, rely upon an Officers’ Certificate;

     (d) the Trustee may consult with counsel and the written 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;

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     (e) 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 against the
costs, expenses and liabilities which might be incurred by it in compliance with such request or
direction;

     (f) 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;

     (g) 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;

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

     (i) The Trustee’s immunities and protections from liability and its rights to compensation and
indemnification in connection with the performance of its duties under this Indenture shall extend
to the Trustee’s officers, directors, agents and employees. Such immunities and protections and
right to indemnification, together with the Trustee’s right to compensation, shall survive the
Trustee’s resignation or removal and final payment of the Securities.

     Section 6.04. 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 the Trustee or any
Authenticating Agent assumes no responsibility for their correctness. The Trustee makes no
representations as to the validity or sufficiency of this Indenture or of the Securities. The
Trustee or any Authenticating Agent shall not be accountable for the use or application by the
Company of Securities or the proceeds thereof.

     Section 6.05. 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 6.08 and 6.13, 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.

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     Section 6.06. 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 6.07. Compensation And Reimbursement.

     The Company agrees

     (a) to pay to the Trustee from time to time reasonable compensation for all services rendered
by it hereunder (which compensation shall not be limited by any provision of law in regard to the
compensation of a trustee of an express trust);

     (b) to reimburse the 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 expenses, disbursements or advances as may be attributable to its
negligence or bad faith;

     (c) to indemnify the Trustee for, and to hold it harmless against, any loss, liability or
expense 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 or liability in connection with the exercise or performance
of any of its powers or duties hereunder; and

     (d) The Trustee shall have, and is hereby granted, a first priority lien on all monies,
securities and collateral (other than monies held in trust by the Trustee for the purpose of paying
the principal, premium, if any, and interest on any specific Securities) held by or on behalf of
the Trustee pursuant to this Indenture for payment or reimbursement to the Trustee of its fees,
expenses and any other monies payable to it hereunder.

     Section 6.08. Disqualification; Conflicting Interest.

     (a) If the Trustee has or shall acquire any conflicting interest within the meaning of the
Trust Indenture Act with respect to the Securities of any series, it shall, within 90 days after
ascertaining that it has such conflicting interest, either eliminate such conflicting interest or
resign with respect to the Securities of that series in the manner and with the effect hereinafter
specified in this Article.

     (b) In the event that the Trustee shall fail to comply with the provisions of Subsection
6.08(a) with respect to the Securities of any series, the Trustee shall, within 10 days after the
expiration of such 90-day period, transmit by mail to all Holders of Securities of that series, as
their names and addresses appear in the Security Register, notice of such failure.

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     Section 6.09. Corporate Trustee Required; Eligibility.

     There shall at all times be a Trustee hereunder which shall 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 exercise corporate trust powers, having a combined capital
and surplus of at least $50,000,000 subject to supervision or examination by Federal or State
authority and having its Corporate Trust Office in any State in the United States of America or in
the District of Columbia. If such corporation publishes or files 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 corporation shall be
deemed to be its combined capital and surplus as set forth in its most recent report of condition
so published or filed. If at any time the Trustee 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 6.10. Resignation And Removal; Appointment Of Successor.

     (a) 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 6.11.

     (b) 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 6.11 shall not have been delivered to the Trustee within 30 days after
the giving of such notice of resignation, the resigning Trustee may petition any court of competent
jurisdiction for the appointment of a successor Trustee with respect to the Securities of such
series.

     (c) 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.

     (d) If at any time:

     (i) the Trustee shall fail to comply with Section 6.08(a) 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

     (ii) the Trustee shall cease to be eligible under Section 6.09 and shall fail to
resign after written request therefor by the Company or by any such Holder, or

     (iii) 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,

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then, in any such case, (A) the Company, by a Board Resolution, may remove the Trustee with respect
to the applicable series of Securities, or (B) subject to Section 5.14, any Holder who has been a
bona fide Holder of a Security of any series 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 such series of Securities and the appointment of a successor Trustee or
Trustees.

     (e) 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 . 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 Section 6.11, 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 and accepted appointment in the
manner required by Section 6.11, 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.

     (f) 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 by mailing written notice of such event by first-class mail, postage
prepaid, to all Holders of Securities of such series as their names and addresses appear in the
Security Register. 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 6.11. Acceptance Of Appointment By Successor.

     (a) 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

43

 

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.

     (b) 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 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.

     (c) 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 paragraph 6.11(a) or 6.11(b), as the case may be.

     (d) No such 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 6.12. 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

44

 

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 6.13. Preferential Collection Of Claims.

     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 the Trust Indenture Act
regarding the collection of claims against the Company (or any other obligor).

     Section 6.14. Appointment Of Authenticating Agent.

     At any time 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, exchange, registration of transfer or partial
redemption thereof or pursuant to Section 3.06, 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. 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

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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 such 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 mail
written notice of such appointment by first-class mail, postage prepaid, to all Holders of
Securities of the series with respect to which such Authenticating Agent will serve, as their names
and addresses appear in the Security Register. Any successor Authenticating Agent upon acceptance
of its appointment 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 alternate 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.

	 	 	 	 	 	 	 
	 	 	Bank One Trust Company, National Association, as
Trustee,
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	as Authenticating Agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Authorized Officer	 	 

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ARTICLE 7

Holders’ List And Reports By Trustee And Company

     Section 7.01. Company To Furnish Trustee Names And Addresses Of Holders.

     The Company will furnish or cause to be furnished to the Trustee

     (a) semi-annually a list, in such form as the Trustee may reasonably require, of the names and
addresses of the Holders as of the date of such list, and

     (b) 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, excluding from any such list names and
addresses received by the Trustee in its capacity as Security Registrar.

     Section 7.02. Preservation Of Information; Communications To Holders.

     (a) 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 7.01 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 7.01
upon receipt of a new list so furnished.

     (b) If three or more Holders of Securities of any series (herein referred to as “applicants”)
apply in writing to the Trustee, and furnish to the Trustee reasonable proof that each such
applicant has owned a Security of such series for a period of at least six months preceding the
date of such application, and such application states that the applicants desire to communicate
with other Holders of such series or with Holders of all other series of Securities with respect to
their rights under this Indenture or under such Securities and is accompanied by a copy of the form
of proxy or other communication which such applicants propose to transmit, then the Trustee shall,
within five business days after the receipt of such application, at its election, either

     (i) afford such applicants access to the information preserved at the time by the
Trustee in accordance with Section 7.02(a), or

     (ii) inform such applicants as to the approximate number of Holders of such series of
Securities or Holders of all other series of Securities whose names and addresses appear in
the information preserved at the time by the Trustee in accordance with Section 7.02(a),
and as to the approximate cost of mailing to the Holders of such series of Securities or
the Holders of all series of Securities the form of proxy or other communication, if any,
specified in such application.

     If the Trustee shall elect not to afford such applicants access to such information, the
Trustee shall, upon the written request of such applicants, mail to each Holder of such series of
Securities or of all series of Securities or of all series of Securities whose name

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and address appear in the information preserved at the time by the Trustee in accordance with
Section 7.02(a) a copy of the form of proxy or other communication which is specified in such
request, with reasonable promptness after a tender to the Trustee of the material to be mailed and
of payment, or provision for the payment, of the reasonable expenses of mailing, unless within five
days after such tender the Trustee shall mail to such applicants and file with the Commission,
together with a copy of the material to be mailed, a written statement to the effect that, in the
opinion of the Trustee, such mailing would be contrary to the best interest of the relevant Holders
or would be in violation of applicable law. Such written statement shall specify the basis of such
opinion. If the Commission, after opportunity for a hearing upon the objections specified in the
written statement so filed, shall enter an order refusing to sustain any of such objections or if,
after the entry of an order sustaining one or more of such objections, the Commission shall find,
after notice and opportunity for hearing, that all the objections so sustained have been met and
shall enter an order so declaring, the Trustee shall mail copies of such material to all such
Holders with reasonable promptness after the entry of such order and the renewal of such tender;
otherwise the Trustee shall be relieved of any obligation or duty to such applicants respecting
their application.

     (c) 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 Section 7.02(b), 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 Section 7.02(b).

Section 7.03. Reports By Trustee.

     (a) If required under Section 313(a) of the Trust Indenture Act, within 60 days after May 15
of each year commencing with the year 2001, so long as any of the Securities are outstanding, the
Trustee shall transmit by mail to all Holders, as provided in subsection 7.03(c), a brief report
dated as of such May 15 with respect to any of the following events which may have occurred within
the previous 12 months (but if no such event has occurred within such period no report need by
transmitted):

     (i) any change to its eligibility under Section 6.09 or the creation of or any
material change to its qualifications under Section 6.08;

     (ii) the character and amount of any advances (and if the Trustee elects so to state,
the circumstances surrounding the making thereof) made by the Trustee (as such) which
remain unpaid on the date of such report, and for the reimbursement of which it claims or
may claim a lien or charge, prior to that of the Securities, on any property or funds held
or collected by it as Trustee, except that the Trustee shall not be required (but may
elect) to report such advances if such advances so remaining unpaid aggregate not more than
one-half of one percent of the principal amount of the Securities Outstanding of such
series on the date of such report;

48

 

     (iii) any change to the amount, interest rate and maturity date of all other
indebtedness owing by the Company (or by any other obligor on the Securities) to the
Trustee in its individual capacity, on the date of such report, with a brief description of
any property held as collateral security therefor, except an indebtedness based upon a
creditor relationship arising in any manner described in Section 6.13;

     (iv) any change to the property and funds, if any, physically in the possession of the
Trustee as such on the date of such report;

     (v) any additional issue of Securities which the Trustee has not previously reported;
and

     (vi) any action taken by the Trustee in the performance of its duties hereunder which
it has not previously reported and which in its opinion materially affects the Securities,
except action in respect of a default, notice of which has been or is to be withheld by the
Trustee in accordance with Section 6.02.

     (b) The Trustee shall transmit by mail to all Holders, as provided in subsection 7.03(c), a
brief report with respect to the character and amount of any advances (and if the Trustee elects so
to state, the circumstances surrounding the making thereof) made by the Trustee (as such) since the
date of the last report transmitted pursuant to Subsection 7.03(a) (or if no such report has yet
been so transmitted, since the date of execution of this instrument) for the reimbursement of which
it claims or may claim a lien or charge, prior to that of the Securities, on property or funds held
or collected by it as Trustee and which it has not previously reported pursuant to this Subsection,
except that the Trustee shall not be required (but may elect) to report such advances if such
advances remaining unpaid at any time aggregate 10% or less of the principal amount of the
Securities Outstanding of such series at such time, such report to be transmitted within 90 days
after such time.

     (c) Reports pursuant to this Section shall be transmitted by mail:

     (i) to all Holders of Securities, as the names and addresses of such Holders appear in
the Security Register as of a date not more than fifteen days prior to the mailing thereof;

     (ii) to such holders of Securities of any series as have, within two years preceding
such transmission, filed their names and addresses with the Trustee for such series for
that purpose; and

     (iii) except in the case of reports pursuant to subsection 7.03(b), to all Holders of
Securities whose names and addresses have been received by the Trustee pursuant to Section
7.01.

     (d) 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

49

 

listed, with the Commission and with the Company. The Company will notify the Trustee when
any Securities are listed on any stock exchange.

     Section 7.04. Reports By Company.

     The Company shall:

     (a) file with the Trustee, within 15 days after the Company is required to file the same with
the Commission, copies of the annual reports and of the information, documents and other reports
(or copies of such portions of any of the foregoing as the Commission may from time to time by
rules and regulations prescribe) which the Company may be required to file with the Commission
pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934; or, if the Company
is not required to file information, documents or reports pursuant to either of said Sections, then
it shall file with the Trustee and the Commission, in accordance with rules and regulations
prescribed from time to time by the Commission, such of the supplementary and periodic information,
documents and reports which may be required pursuant to Section 13 of the Securities Exchange Act
of 1934 in respect of a security listed and registered on a national securities exchange as may be
prescribed from time to time in such rules and regulations;

     (b) file with the Trustee and the Commission, in accordance with rules and regulations
prescribed from time to time by the Commission, such additional information, documents and reports
with respect to compliance by the Company with the conditions and covenants of this Indenture as
may be required from time to time by such rules and regulations; and

     (c) transmit by mail to all Holders, as their names and addresses appear in the Security
Register, within 30 days after the filing thereof with the Trustee, to such Holders of Securities
as have, within the two years preceding such transmission, filed their names and addresses with the
Trustee for that purpose and Holders of securities whose names and addresses have been furnished to
or received by the Trustee pursuant to Section 7.02(a) such summaries of any information, documents
and reports required to be filed by the Company pursuant to paragraphs 7.04(a) and 7.04(b) as may
be required by rules and regulations prescribed from time to time by the Commission.

ARTICLE 8

Consolidation, Merger, Conveyance, Transfer Or Lease

     Section 8.01. Company May Consolidate, Etc., Only On Certain Terms.

     Subject to the provisions of Section 8.03, nothing contained in this Indenture or in any of
the Securities shall prevent any consolidation or merger of the Company with or into any other
corporation or corporations, or successive consolidations or mergers in which the Company or its
successor or successors shall be a party or parties or shall prevent any sale or conveyance of all
or substantially all of the property of the Company

50

 

to any other corporation authorized to acquire and operate the same; provided, that in any
such case, (i) either the Company shall be the continuing corporation, or the successor corporation
(if other than the Company) shall be a corporation organized and existing under the laws of the
United States of America or a State thereof and such corporation shall expressly assume the due and
punctual payment of the principal of, and premium, if any, and interest on all the Securities,
according to their tenor, and the due and punctual performance and observance of all of the
covenants and conditions of this Indenture to be performed by the Company by supplemental indenture
satisfactory to the Trustee, executed and delivered to the Trustee by such corporation, and (ii)
the Company or such successor corporation, as the case may be, shall not, immediately after such
merger or consolidation, or such sale or conveyance, be in default in the performance of any such
covenant or condition and shall not immediately thereafter have outstanding any secured Debt (as
defined in Section 10.04) not expressly permitted by the provisions of Section 10.04 unless the
provisions of Section 8.03 shall previously have been complied with.

     Section 8.02. Successor Corporation To Be Substituted For Company.

     In case of any such consolidation, merger, sale or conveyance (other than a conveyance by way
of lease) and upon any such assumption by the successor corporation, such successor corporation
shall succeed to and be substituted for the Company, with the same effect as if it had been named
herein as the party of the first part, and the Company thereupon shall be relieved of any further
liability or obligation hereunder or upon the Securities and may thereupon or at any time
thereafter be dissolved, wound up or liquidated. Such successor corporation thereupon may cause to
be signed, and may issue either in its own name or in the name of Masco Corporation, any or all of
the Securities issuable hereunder which theretofore shall not have been signed by the Company and
delivered to the Trustee or the Authenticating Agent; and upon the order of such successor
corporation (instead of the Company) and subject to all the terms, conditions and limitations in
this Indenture prescribed, the Trustee or the Authenticating Agent shall authenticate and deliver
any Securities which previously shall have been signed and delivered by the officers of the Company
to the Trustee or the Authenticating Agent for authentication, and any Securities which such
successor corporation thereafter shall cause to be signed and delivered to the Trustee or the
Authenticating Agent for that purpose. All the Securities so issued shall in all respects have the
same legal rank and benefit under this Indenture as the Securities theretofore or thereafter issued
in accordance with the terms of this Indenture as though all of such Securities had been issued at
the date of the execution hereof.

     In the case of any such consolidation, merger, sale or conveyance, such change in phraseology
and form (but not in substance) may be made in the Securities thereafter to be issued as may be
appropriate.

Section 8.03. Securities To Be Secured In Certain Events.

     If, upon any such consolidation or merger of the Company with or into any other corporation,
or upon any sale or conveyance of the property of the Company as an entirety or substantially as an
entirety to any other corporation, any Principal Property or

51

 

any shares of stock or indebtedness of any Consolidated Subsidiary owning any Principal
Property owned immediately prior thereto would thereupon become subject to any mortgage (as defined
in Section 10.04), unless the Company could create such mortgage pursuant to Section 10.04 without
equally and ratably securing the Securities, the Company, prior to or simultaneously with such
consolidation, merger, sale or conveyance, will secure the Securities outstanding hereunder,
equally and ratably with any other obligation of the Company or any such Subsidiary then entitled
thereto, prior to the Debt (as defined in Section 10.04) secured by such mortgage.

     Section 8.04. Evidence To Be Furnished To The Trustee.

     The Trustee, subject to the provisions of Sections 6.01 and 6.03, may receive and rely upon an
Officers’ Certificate and an Opinion of Counsel as conclusive evidence that any consolidation,
merger, sale or conveyance, and any such assumption complies with the provisions of this Article 8.

ARTICLE 9

Supplemental Indentures

     Section 9.01. 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 satisfactory to the Trustee, for any of the following purposes:

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

     (b) 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

     (c) 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 the relevant series) or to surrender any right or power herein
conferred upon the Company; or

     (d) to add to or change any of the provisions of this Indenture to such extent as shall be
necessary to permit or facilitate the issuance of Securities in bearer form, registrable or not
registrable as to principal, and with or without interest coupons, or permit or facilitate the
issuance of Securities in uncertificated form; or

52

 

     (e) 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 Securities of any series created prior to the execution of such supplemental
indenture and entitled to the benefit of such provision nor (ii) modify the rights of the Holder of
such Securities with respect to such provision or (B) shall become effective only when there is no
such Security Outstanding; or

     (f) to secure the Securities pursuant to the requirements of Sections 8.03 or otherwise; or

     (g) to establish the form or terms of Securities of any series as permitted by Sections 2.01
and 3.01; or

     (h) 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 and facilitate the administration of the
trusts hereunder by more than one Trustee, pursuant to the requirements of Section 6.11(b); or

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

     Section 9.02. Supplemental Indentures With Consent Of Holders.

     With the consent of the Holders of not less than a majority in principal amount of the
Outstanding Securities of each series affected by such supplemental indenture voting as one class,
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 the Indenture; provided, however, that no such supplemental indenture shall,
without the consent of the Holder of each Outstanding Security affected thereby,

     (a) 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 reduce the amount of the principal of an
Original Issue Discount Security that would be due and payable upon a declaration of acceleration
of the Maturity thereof pursuant to Section 5.02, or change any Place of Payment where, or the coin
or currency in which, any Security or any premium or the 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

53

 

     (b) 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

     (c) modify any of the provisions of this Section or Section 5.13, 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, or the deletion
of this proviso, in accordance with the requirements of Sections 6.11(b) and 9.01(h).

     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 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 9.03. 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 6.01) shall be fully protected in
relying upon, 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 own rights, duties or immunities
under this Indenture or otherwise.

     Section 9.04. 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 9.05. Conformity With Trust Indenture Act.

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

     Section 9.06. Reference In Securities To Supplemental Indentures.

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     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 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 10

Covenants

     Section 10.01. Payment Of Principal, Premium And Interest.

     The Company covenants and agrees for the benefit of each series of Securities that it will
duly and punctually pay or cause to be paid the principal of (and premium, if any) and any interest
on each of the Securities of that series in accordance with the terms of the Securities and this
Indenture.

     Section 10.02. Maintenance Of Office Or Agency.

     The Company will maintain in each Place of Payment for any series of Securities 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 and the
Holders of the location, and any change in the location, of such office or agency. If at any time
the Company shall fail to maintain any such required office or agency or shall fail to furnish the
Trustee with the address thereof, such presentations and surrenders of Securities of that series
and notices and demands may be made or served at the Corporate Trust Office of the Trustee, and the
Company hereby appoints the Trustee as its agent to receive all such 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 designation; 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 and the Holders of any such designation or rescission and
of any change in the location of any such other office or agency.

     Section 10.03. Money For Securities Payments To Be Held In Trust.

     (a) If the Company shall appoint a paying agent other than the Trustee with respect to the
Securities of any series, it will cause such paying agent to execute and

55

 

deliver to the Trustee an instrument in which such agent shall agree with the Trustee, subject
to the provisions of this Section 10.03:

     (i) that it will hold all sums held by it as such agent for the payment of the
principal of and premium, if any, or interest, if any, on the Securities of such series
(whether such sums have been paid to it by the Company or by any other obligor on the
Securities of such series) in trust for the benefit of the holders of the Securities of
such series;

     (ii) that it will give the Trustee notice of any failure by the Company (or by any
other obligor on the Securities of such series) to make any payment of the principal of and
premium, if any, or interest, if any, on the Securities of such series when the same shall
be due and payable; and

     (iii) at any time during the continuance of any such default, upon the written request
of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying
Agent.

     (b) If the Company shall at any time act as its own Paying Agent it will, on or before each
due date of the principal of (and premium, if any) or interest, if any, on the Securities of any
series, set aside, segregate and hold in trust for the benefit of the Persons entitled thereto a
sum sufficient to pay such principal (and premium, if any) or interest so becoming due and will
notify the Trustee of any failure to take such action and of any failure by the Company (or by any
other obligor under the Securities of such series) to make any payment of the principal of and
premium, if any, or interest, if any, on the Securities of such series when the same shall become
due and payable.

     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 (except pursuant to Section 4.02 or 10.06) or any Paying
Agent, or then held by the Company, in trust for the payment of the principal of (and premium, if
any) or interest on any Security of any series and remaining unclaimed for two years after such
principal (and premium, if any) 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 a newspaper published
in the English language, customarily published on each Business

56

 

Day and of general circulation in the Borough of Manhattan, The City of New York, 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 10.04. Limitations On Liens.

     (a) The Company will not, nor will it permit any Consolidated Subsidiary to, issue, assume or
guarantee any debt for money borrowed or any Funded Debt (hereinafter in this Article 10 referred
to as “Debt”), secured by a mortgage, security interest, pledge, lien or other encumbrance
(mortgages, security interests, pledges, liens and other encumbrances being hereinafter called a
"mortgage” or “mortgages”) upon any Principal Property or upon any shares of stock or indebtedness
of any Consolidated Subsidiary which owns or leases a Principal Property (whether such Principal
Property, shares of stock or indebtedness are now owned or hereafter acquired) without in any such
case effectively providing concurrently with the issuance, assumption or guaranty of any such Debt
that the Securities (together with, if the Company shall so determine, any other indebtedness of or
guaranteed by the Company or such Consolidated Subsidiary ranking equally with the Securities and
then existing or thereafter created) shall be secured equally and ratably with such Debt; provided,
however, that the foregoing restrictions shall not apply to Debt secured by

     (i) mortgages on property, shares of stock or indebtedness of any corporation existing
at the time such corporation becomes a Consolidated Subsidiary;

     (ii) mortgages on property existing at the time of acquisition of such property by the
Company or a Consolidated Subsidiary, or mortgages to secure the payment of all or any part
of the purchase price of such property upon the acquisition of such property by the Company
or a Consolidated Subsidiary or to secure any Debt incurred by the Company or Consolidated
Subsidiary prior to, at the time of, or within 120 days after the later of the acquisition,
the completion of construction (including any improvements on an existing property) or the
commencement of commercial operation of such property, which Debt is incurred for the
purpose of financing all or any part of the purchase price thereof or construction or
improvements thereon; provided, however, that in the case of any such acquisition,
construction or improvement, the mortgage shall not apply to any property theretofore owned
by the Company or a Consolidated Subsidiary, other than any property on which the property
so constructed or the improvement is located or to which the property so constructed or the
improvement is appurtenant;

     (iii) mortgages securing Debt of a Consolidated Subsidiary owing to the Company or to
another Consolidated Subsidiary;

     (iv) mortgages on property of a corporation existing at the time such corporation is
merged or consolidated with the Company or a Consolidated

57

 

Subsidiary or at the time of a sale, lease or other disposition of the properties of a
corporation or firm as an entirety or substantially as an entirety to the Company or a
Consolidated Subsidiary; provided, however, that no such mortgage shall extend to any other
Principal Property of the Company or any Consolidated Subsidiary or to any shares of
capital stock or any indebtedness of any Consolidated Subsidiary which owns or leases a
Principal Property;

     (v) mortgages on property of the Company or a Consolidated Subsidiary in favor of the
United States of America or any State thereof, or any department, agency or instrumentality
or political subdivision of the United States of America or any State thereof, or in favor
of any other country, or any political subdivision thereof, to secure partial, progress,
advance or other payments pursuant to any contract or statute (including Debt of the
pollution control or industrial revenue bond type) or to secure any indebtedness incurred
for the purpose of financing all or any part of the purchase price or the cost of
construction of the property subject to such mortgages; or

     (vi) any extension, renewal or replacement (or successive extensions, renewals or
replacements) in whole or in part of mortgages existing at the date of this Indenture, or
any mortgage referred to in the foregoing clauses (i) through (v), inclusive, provided,
however, that the principal amount of Debt secured thereby shall not exceed the principal
amount of Debt so secured at the time of such extension, renewal or replacement, and that
such extension, renewal or replacement shall be limited to all or a part of the property
which secured the mortgage so extended, renewed or replaced (plus improvements on such
property).

     (b) Notwithstanding the foregoing provisions of this Section 10.04, the Company may, and may
permit any Consolidated Subsidiary to, issue, assume or guarantee Debt secured by a mortgage not
excepted by clauses (i) through (vi) of paragraph (a) above without equally and ratably securing
the Securities, provided, however, that the aggregate principal amount of all such Debt then
outstanding, plus the aggregate principal amount of the Debt then being issued, assumed, or
guaranteed, and the aggregate amount of the Attributable Debt in respect of sale and lease-back
arrangements, shall not exceed 5% of Consolidated Net Tangible Assets, determined as of a date not
more than 90 days prior thereto.

     Section 10.05. Limitation On Sale And Leaseback.

     The Company will not, nor will it permit any Consolidated Subsidiary to, enter into any
arrangement with any person providing for the leasing by the Company or any Consolidated Subsidiary
of any Principal Property (whether such Principal Property is now owned or hereafter acquired)
(except for leases for a term of not more than three years and except for leases between the
Company and a Consolidated Subsidiary or between Consolidated Subsidiaries), which property has
been or is to be sold or transferred by the Company or such Consolidated Subsidiary to such person,
unless (a) the Company or such Subsidiary would be entitled, pursuant to the provisions of Section

58

 

10.04, to issue, assume or guarantee Debt secured by a mortgage upon such property at least
equal in amount to the Attributable Debt in respect of such arrangement without equally and ratably
securing the Securities or (b) the Company or a Consolidated Subsidiary, within 120 days of the
effective date of any such arrangement, applies an amount equal to the greater of the net proceeds
of the sale of the Principal Property leased pursuant to such arrangement or the fair market value
of the Principal Property so leased at the time of entering into such arrangement (as determined by
the Board of Directors of the Company) to the retirement (other than any mandatory retirement or by
way of payment at maturity) of Funded Debt of the Company or any Consolidated Subsidiary (other
than Funded Debt owned by the Company or any Consolidated Subsidiary and other than Funded Debt
subordinated in the payment of principal or interest to the Securities and except that no Security
shall be retired if such retirement of Securities pursuant to this provision would be prohibited by
the resolutions or supplemental indentures referred to in Section 3.01), provided, however, that in
lieu of applying all or any part of such net proceeds or fair market value to such retirement, the
Company may at its option (i) deliver to the Trustee Securities theretofore purchased or otherwise
acquired by the Company, or (ii) receive credit for Securities theretofore redeemed pursuant to
the resolutions or supplemental indentures referred to in Section 3.01 hereof, which Securities
have not theretofore been made the basis for the reduction of a sinking fund payment pursuant to
Article 12 or applied in lieu of retiring Funded Debt pursuant hereto. If the Company shall so
deliver Securities to the Trustee (or receive credit for Securities so delivered), the amount of
cash which the Company shall be required to apply to the retirement of Funded Debt pursuant to this
Section 10.05 shall be reduced by an amount equal to the aggregate principal amount of such
Securities.

     Section 10.06. Defeasance Of Certain Obligations.

     The Company may omit to comply, on or after the date the conditions set forth in subsections
(a) to (f) of this Section 10.06 are satisfied, with any term, provision or condition set forth in
any negative or restrictive covenant of the Company applicable to the Securities of such series
(hereafter called “Covenant Defeasance”) that is specified pursuant to Section 3.01(j), if

     (a) With reference to this Section 10.06, the Company has irrevocably deposited or caused to
be irrevocably deposited with the Trustee as trust funds 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 that series, (i) money in an amount, or (ii) U.S. Government Obligations which
through the payment of interest and principal in respect thereof in accordance with their terms
will provide not later than one day before the due date of any payment referred to in clause (A) or
(B) of this subparagraph 10.06(a) money in an amount, or (iii) a combination thereof, sufficient,
in the opinion of a nationally recognized firm of independent public accountants expressed in a
written certification thereof delivered to the Trustee, to pay and discharge, and which shall be
applied by the Trustee for such purposes, (A) the principal of and any premium or interest on the
Outstanding Securities of that series on the Stated Maturity of such principal or installment of
principal or interest or the Redemption Date, as the case may be, and (B) any mandatory sinking
fund payments or analogous payments applicable to

59

 

Securities of such series on the day on which such payments are due and payable, each in
accordance with the terms of this Indenture and of such Securities;

     (b) Such Covenant Defeasance shall not cause the Trustee with respect to the Securities of
that series to have a conflicting interest as defined in Section 6.08 and for purposes of the Trust
Indenture Act with respect to the Securities of any series;

     (c) Such Covenant Defeasance will not result in a breach or violation of, or constitute a
default under, this Indenture or any other agreement or instrument to which the Company is a party
or by which it is bound;

     (d) Such Defeasance would not cause any Outstanding Security of such series then listed on any
nationally recognized securities exchange to be then delisted as a result thereof;

     (e) No Event of Default or event which with notice or lapse of time would become an Event of
Default with respect to Securities of that series shall have occurred and be continuing on the date
of such deposit or during the period ending on the 91st day after such date;

     (f) The Company has delivered to the Trustee an Opinion of Counsel stating that (i) Holders of
the Securities of such series will not recognize income, 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 and in the same manner and at the same times, as would have been the case if
such deposit and Covenant Defeasance had not occurred; (ii) such Covenant Defeasance would not
cause any outstanding Security of such series then listed on any nationally recognized securities
exchange to be delisted as a result thereof; and (iii) such deposit would not result in the trust
arising from such deposit constituting an investment company within the meaning of the Investment
Company Act of 1940, as amended from time to time;

     (g) The Company has delivered to the Trustee an Opinion of Counsel to the effect that after
the 91st day following the deposit, the trust funds will not be subject to the effect of any
applicable bankruptcy, insolvency, reorganization or similar laws affecting creditors’ rights
generally, except that if a court were to rule under any such law in any case or proceeding that
the trust funds remained property of the Company, no opinion is given as to the effect of such laws
on the trust funds except the following: (A) assuming such trust funds remained in the Trustee’s
possession prior to such court ruling to the extent not paid to Holders of Securities, the Trustee
will hold, for the benefit of such Holders, a valid and perfected security interest in such trust
funds that is not avoidable in bankruptcy or otherwise, and (B) such Holders will be entitled to
receive adequate protection of their interests in such trust funds if such trust funds are used;
and

     (h) 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 defeasance
contemplated by this Section have been complied with.

     Section 10.07. Certificate Of Officers Of The Company.

60

 

     On or before April 1 of each year beginning with the year 2001, so long as Securities of any
series are Outstanding hereunder, the Company will file with the Trustee an Officers’ Certificate,
one of the signers of which shall be the principal financial officer, the principal accounting
officer or the principal executive officer of the Company, stating whether or not to the best
knowledge of the signer thereof the Company is in default in the performance and observance of any
of the terms, provisions and conditions of this Indenture, and, if the Company shall be in default,
specifying all such defaults and the nature and status thereof of which they may have knowledge.
For purposes of this paragraph, any such default shall be determined without regard to any period
of grace or requirement of notice provided in this Indenture.

ARTICLE
11 

Redemption of Securities

     Section 11.01. Applicability Of Article.

     Any Securities that are redeemable before their Stated Maturity shall be redeemable in
accordance with their terms and (except as otherwise specified as contemplated by Section 3.01 for
any Securities) in accordance with this Article.

     Section 11.02. Election To Redeem; Notice To Trustee.

     The election of the Company to redeem any Securities shall be evidenced by a Board Resolution.
In case of any redemption at the election of the Company of less than all the Securities of any
series, 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 tenor, if applicable, of the Securities to be redeemed, and of the
principal amount of Securities to be redeemed. In the case of any redemption of Securities prior
to the expiration of any restriction on such redemption provided in the terms of such Securities or
elsewhere in this Indenture, the Company shall furnish the Trustee with an Officers’ Certificate
evidencing compliance with such restriction.

     Section 11.03. Selection By Trustee Of Securities To Be Redeemed.

     If less than all the Securities of any series are to be redeemed (unless all of the Securities
of a specified tenor are to be redeemed), 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 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. 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 45 days prior to the Redemption Date by the

61

 

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 and, in the case of any Securities selected for partial redemption, the principal amount
thereof to be redeemed.

     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 11.04. Notice Of Redemption.

     Notice of redemption shall be given by first-class mail, postage prepaid, mailed not less than
30 nor more than 60 days prior to the Redemption Date to each Holder of Securities to be redeemed,
at this address appearing in the Security Register.

     All notices of redemption shall state:

     (a) the Redemption Date,

     (b) the Redemption Price,

     (c) if less than all the Outstanding Securities of any series are to be redeemed, the
identification (and, in the case of partial redemption, the principal amounts) of the particular
Securities to be redeemed,

     (d) 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,

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

     (f) that the redemption is for a sinking fund, if such is the case.

     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. The notice of redemption mailed in the manner herein
provided shall be conclusively presumed to have been duly given whether or not the Holder receives
such notice. In any case, failure to give such notice by mail or any defect in the notice to the
Holder of any Security shall not affect the validity of the proceeding for the redemption of any
other Security.

     Section 11.05. Deposit Of Redemption Price.

62

 

     Prior to 10:00 a.m., New York City 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 10.03) an amount of money sufficient to pay the
Redemption Price of, and accrued interest on, all the Securities which are to be redeemed on that
date.

     Section 11.06. 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 installments of interest 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 3.07.

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

     Section 11.07. 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. If a Security in permanent global form is
so surrendered, the Company shall execute, and the Trustee shall authenticate and deliver to the
Depositary for such Security in permanent global form, without service charge to the Holder, a new
Security in permanent global form in a denomination equal to and in exchange for the unredeemed
portion of the principal of the Security in permanent global form so surrendered.

ARTICLE 12

Sinking Funds

     Section 12.01. Applicability Of Article.

63

 

     The provisions of this Article shall be applicable to any sinking fund for the retirement of
Securities of a series except as otherwise specified as contemplated by Section 3.01 for Securities
of such series.

     The minimum amount of any sinking fund payment provided for by the terms of Securities of any
series 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 Securities of any series is herein referred to as
an “optional sinking fund payment.” If provided for by the terms of Securities of any series, the
cash amount of any sinking fund payment may be subject to reduction as provided in Section 12.02.
Each sinking fund payment shall be applied to the redemption of Securities of any series as
provided for by the terms of Securities of such series.

     Section 12.02. Satisfaction Of Sinking Fund Payments With Securities.

     The Company (a) may deliver Outstanding Securities of a series (other than any previously
called for redemption) and (b) 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 the Securities of such series required to be made pursuant to the terms of such
Securities as provided for by the terms of such Series; 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 to be so redeemed, for redemption through operation of the sinking fund and the amount
of such sinking fund payment shall be reduced accordingly.

     Section 12.03. Redemption Of Securities For Sinking Fund.

     Not less than 60 days prior to each sinking fund payment date for any series of Securities,
the Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next
ensuing sinking fund payment for that series pursuant to the terms of such Securities, the portion
thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which
is to be satisfied by delivering and crediting Securities of that series pursuant to Section 12.02
stating that such Securities have not been previously used as a credit against any sinking fund
payment and will also deliver to the Trustee any Securities to be so delivered. Not less than 30
days before each such sinking fund payment date the Trustee shall select the Securities to be
redeemed upon such sinking fund payment date in the manner specified in Section 11.03 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 11.04. Such notice having been duly given, the redemption of such
Securities shall be made upon the terms and in the manner stated in Sections 11.05, 11.06 and
11.07.

* * *

64

 

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

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	MASCO CORPORATION	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By
	 	/s/Richard G. Mosteller
	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Title:
	 	Senior Vice President — Finance	 	 
	Attest:

	 	/s/John R. Leekley	 	 	 	 	 	 	 	 
	 

	 	 

	 	 	 	 	 	 	 	 
	 

	 	Senior Vice President —	 	 	 	 	 	 	 	 
	 

	 	General Counsel	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	BANK ONE TRUST COMPANY, NATIONAL

ASSOCIATION, as Trustee	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By
	 	/s/Benita A. Pointer	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Title:
	 	Account Executive	 	 

65

 

Exhibit A

FORM OF FACE OF SECURITY

     UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY, 55 WATER STREET, NEW YORK, NEW YORK (THE “U.S. DEPOSITARY”), TO MASCO CORPORATION OR ITS
AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED
IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF
THE U.S. DEPOSITARY (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED
BY AN AUTHORIZED REPRESENTATIVE OF THE U.S. DEPOSITARY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF
FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF,
CEDE & CO., HAS AN INTEREST HEREIN.

     [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY TO THE
ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF THE DEPOSITARY OR ITS NOMINEE AND ANY PAYMENT IS MADE TO THE
DEPOSITARY OR ITS NOMINEE, ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF HAS AN INTEREST HEREIN.]

     [If the Security is an original issue discount security for tax purposes and is not “publicly
offered” within the meaning of Treasury Regulation 1.1275-1(h), insert — For purposes of Sections
1271-1275 of the United States Internal Revenue Code of 1986, as amended, the issue price of this
Security is ...................., the amount of original issue
discount is ...................., the issue date is ...................., 20.. and the yield
to maturity is ....................]

MASCO CORPORATION

[Title of Security]

				
	No....................
	 	$...............	 

CUSIP No.                    

 

 

     Masco Corporation, a corporation duly organized and existing under the laws of Delaware
(herein called the “Company,” which term includes any successor corporation under the Indenture
hereinafter referred to), for value received, hereby promises to pay
to ................., or registered assigns,
the principal sum of ..................., Dollars on .................... [If the Security is to bear interest prior to Maturity,
insert—, and to pay interest thereon from .................... or from the most recent Interest Payment Date to
which interest has been paid or duly provided for, semi-annually on ... and ... in each year,
commencing...................., at the rate of.....................% per annum, until the principal hereof is paid or made available
for payment [If applicable, insert —, and (to the extent that the payment of such interest shall
be legally enforceable) at the rate of ..% per annum on any overdue principal and premium and on
any overdue installment of interest]. The interest so payable, and punctually paid or duly
provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the
Person in whose name this Security (or one or more Predecessor Securities) is registered at the
close of business on the Regular Record Date for such interest, which shall be the or (whether or
not a Business Day), as the case may be, next preceding such Interest Payment Date. Any such
interest not so punctually paid or duly provided for will forthwith cease to be payable to the
Holder on such Regular Record Date and may either be paid to the Person in whose name this Security
(or one or more Predecessor Securities) is registered at the close of business on a Special Record
Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be
given to Holders of Securities of this series not less than 10 days prior to such Special Record
Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of
any securities exchange on which the Securities of this series may be listed, and upon such notice
as may be required by such exchange, all as more fully provided in said Indenture. [Interest on the
Securities shall be computed on the basis of a 360-day year consisting of 12 30-day months.]

     [If the Security is not to bear interest prior to Maturity, insert—The principal of this
Security shall not bear interest except in the case of a default in payment of principal upon
acceleration, upon redemption or at Stated Maturity and in such case the overdue principal of this
Security shall bear interest at the rate of ..% per annum (to the extent that the payment of such
interest shall be legally enforceable), which shall accrue from the date of such default in payment
to the date payment of such principal has been made or duly provided for. Interest on any overdue
principal that is not so paid on demand shall bear interest at the rate of ...% per annum (to the
extent that the payment of such interest shall be legally enforceable), which shall accrue from the
date of such demand for payment to the date payment of such interest has been made or duly provided
for, and such interest shall also be payable on demand.]

     Payment of the principal of (and premium, if any) and [if applicable insert, —any such]
interest on this Security will be made at the office or agency of the Company maintained for that
purpose in the Borough of Manhattan, The City of New York, in such coin or currency of the United
States of America as at the time of payment is legal tender for payment of public and private debts
[if applicable, insert—; provided, however, that at the option of the Company payment of interest
may be made by check mailed to the address of the Person entitled thereto as such address shall
appear in the Security Register].

A-2

 

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

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

A-3

 

     IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its
corporate seal.

	 	 	 	 	 
	Dated:
	 	 	 	 
	 
	 	 	 	 
	 

	 	MASCO CORPORATION	 	 
	 
	 	 	 	 
	 

	 	By
 

	 	 
	 
	 	 	 	 
	Attest:
                                                                
	 	 	 	 
	 
	 	 	 	 

A-4

 

FORM OF TRUSTEE’S CERTIFICATE OF AUTHENTICATION

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

Date of Authentication:

	 	 	 	 	 	 	 
	 	 	Bank One Trust Company, National Association,

as Trustee	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	 

Authorized Officer
	 	 

A-5

 

FORM OF REVERSE OF SECURITY

     This Security is one of a duly authorized issue of securities of the Company (herein called
the “Securities”), issued and to be issued in one or more series under an Indenture, dated as of
                     (herein called the “Indenture”), between the Company and Bank One Trust Company,
National Association, as Trustee (herein called the “Trustee,” which term includes any successor
trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference
is hereby made for a statement of the respective rights, limitations of rights, duties and
immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the
terms upon which the Securities are, and are to be, authenticated and delivered. This Security is
one of the series designated on the face hereof [, limited in
aggregate principal amount to $.....................].

     [If applicable, insert—The Securities of this series are subject to redemption upon not less
than 30 days’ notice by mail, [if applicable, insert — (1) on ........................ in any year commencing with the
year ...................... and ending with the year ....................... through operation of the sinking fund for this series at a
Redemption Price equal to 100% of the principal amount, and (2)]
at any time [ on or after......................., 20.....................],
as a whole or in part, at the election of the Company, at the following Redemption Prices
(expressed as percentages of the principal amount): If redeemed [on or before .......................,..................... %, and if
redeemed] during the 12-month period beginning ........................ of the years indicated,

	 	 	 	 	 	 	 
	

	 	Redemption

	 	 
	 	Redemption
	Year

	 	Price

	 	Year
	 	
Price

and thereafter at a Redemption Price equal to.....................% of the principal amount, together in the case of
any such redemption [if applicable, insert—(whether through operation of the sinking fund or
otherwise)] with accrued interest to the Redemption Date, but interest installments whose Stated
Maturity is on or prior to such Redemption Date will be payable to the Holders of such Securities,
or one or more Predecessor Securities, of record at the close of business on the relevant Record
Dates referred to on the face hereof, all as provided in the Indenture.]

     [If applicable, insert—The Securities of this series are subject to redemption upon not less
than 30 days’ notice by mail, (1) on ....................... in any year commencing with the year ....................... and ending with the
year ....................... through operation of the sinking fund for this series at the Redemption Prices for
redemption through operation of the sinking fund (expressed as percentages of the principal amount)
set forth in the table below, and (2) at any time [on or after .......................], as a whole or in part, at the
election of the Company, at the Redemption Prices for redemption otherwise than through operation
of the sinking fund (expressed as percentages of the principal amount) set forth in the table
below: If redeemed during the 12 month period beginning..................... of the years indicated,

A-6

 

	 	 	 	 	 
	 

	 	 	 	Redemption Price For Redemption
	 

	 	Redemption Price For Redemption
	 	Otherwise Than Through
	 

	 	Through Operation of the
	 	Operation of the
	Year

	 	 Sinking Fund 
	 	Sinking Fund 

and thereafter at a Redemption Price equal to.....................% of the principal amount, together in the case of
any such redemption (whether through operation of the sinking fund or otherwise) with accrued
interest to the Redemption Date, but interest installments whose Stated Maturity is on or prior to
such Redemption Date will be payable to the Holders of such Securities, or one or more Predecessor
Securities, of record at the close of business on the relevant Record Dates referred to on the face
hereof, all as provided in the Indenture.]

     [Notwithstanding the foregoing, the Company may not, prior to..................... .. redeem any Securities of this
series as contemplated by [clause (2) of] the preceding paragraph as a part of, or in anticipation
of, any refunding operation by the application, directly or indirectly, of moneys borrowed having
an interest cost to the Company (calculated in accordance with generally accepted financial
practice) of less than .....................% per annum.]

     [The sinking fund for this series provides for the redemption on ....................... in each year beginning
with the year ....................... and ending with the year ...................... of [not less than] $...................... [(“mandatory sinking fund”) and
not more than $.....................] aggregate principal amount of Securities of this series. [Securities of this
series acquired or redeemed by the Company otherwise than through [mandatory] sinking fund payments
may be credited against subsequent [mandatory] sinking fund payments otherwise required to be
made—in the inverse order in which they become due.]

     [In the event of redemption of this Security in part only, a new Security or Securities of
this series for the unredeemed portion hereof will be issued in the name of the Holder hereof upon
the cancellation hereof.]

     [The Indenture contains provisions for defeasance at any time of (a) the entire indebtedness
of this Security and (b) certain restrictive covenants, in each case upon compliance by the Company
with certain conditions set forth therein, which provisions apply to this Security.]

     [If the Security is not an Original Issue Discount Security, —If an Event of Default with
respect to Securities of this series shall occur and be continuing, the principal of the Securities
of this series may be declared due and payable in the manner and with the effect provided in the
Indenture.]

     [If the Security is an Original Issue Discount Security, —If an Event of Default with respect
to Securities of this series shall occur and be continuing, an amount of principal of the
Securities of this series may be declared due and payable in the manner and with the effect
provided in the Indenture. Such amount shall be equal to—insert formula for determining the
amount. Upon payment (i) of the amount of principal so

A-7

 

declared due and payable and (ii) of interest on any overdue principal and overdue interest
(in each case to the extent that the payment of such interest shall be legally enforceable), all of
the Company’s obligations in respect of the payment of the principal of and interest, if any, on
the Securities of this series shall terminate.]

     The Indenture permits, with certain exceptions as therein provided, the amendment thereof and
the modification of the rights and obligations of the Company and the rights of the Holders of the
Securities of each series to be affected under the Indenture at any time by the Company and the
Trustee with the consent of the Holders of a majority in principal amount of the Securities at the
time Outstanding of each series to be affected. The Indenture also contains provisions permitting
the Holders of specified percentages in principal amount of the Securities of each series at the
time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by
the Company with certain provisions of the Indenture and certain past defaults under the Indenture
and their consequences. Any such consent or waiver by the Holder of this Security shall be
conclusive and binding upon such Holder and upon all future Holders of this Security and of any
Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof,
whether or not notation of such consent or waiver is made upon this Security.

     As provided in and subject to the provisions of the Indenture, the Holder of this Security
shall not have the right to institute any proceeding with respect to the Indenture or for the
appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall
have previously given the Trustee written notice of a continuing Event of Default with respect to
the Securities of this series, the Holders of not less than 25% in principal amount of the
Securities of this series at the time Outstanding shall have made written request to the Trustee to
institute proceedings in respect of such Event of Default as Trustee and offered the Trustee
reasonable indemnity, and the Trustee shall not have received from the Holders of a majority in
principal amount of Securities of this series at the time Outstanding a direction inconsistent with
such request, and shall have failed to institute any such proceeding, for 60 days after receipt of
such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted
by the Holder of this Security for the enforcement of any payment of principal hereof or any
premium or interest hereon on or after the respective due dates expressed herein.

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

     As provided in the Indenture and subject to certain limitations therein set forth, the
transfer of this Security is registrable in the Security Register, upon surrender of this Security
for registration of transfer at the office or agency of the Company in any place where the
principal of (and premium, if any) and interest on this Security are payable, duly endorsed by, or
accompanied by a written instrument of transfer in form satisfactory to the Company and the
Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing,
and thereupon one or more new Securities of this

A-8

 

series, of authorized denominations and for the same aggregate principal amount, will be
issued to the designated transferee or transferees.

     The Securities of this series are issuable only in registered form without coupons in
denominations of $ and any multiple thereof. As provided in the Indenture and subject to certain
limitations therein set forth, Securities of this series are exchangeable for a like aggregate
principal amount of Securities of this series of a different authorized denomination, as requested
by the Holder surrendering the same.

     No service charge shall be made for any such registration of transfer or exchange, but the
Company may require payment of a sum sufficient to cover any tax or other governmental charge
payable in connection therewith.

     Prior to due presentment of this 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 this
Security is registered as the owner hereof for all purposes, whether or not this Security be
overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the
contrary.

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

A-9exv4wbwiwvi

 

Exhibit 4.b.i (vi)

RESOLUTIONS OF THE PRICING COMMITTEE OF

THE BOARD OF DIRECTORS

OF MASCO CORPORATION

SEPTEMBER 28, 2006

     In lieu of a meeting, the undersigned, being all of the members of the Pricing Committee
of the Board of Directors of Masco Corporation, a Delaware corporation, (the “Company”) adopt the
resolutions attached on Exhibit A hereto.

Dated: September 28, 2006

	 	 	 	 	 
	 	 	 
	 	/s/ Richard A. Manoogian
 	 
	 	Richard A. Manoogian 	 
	 	 	 
	 	/s/ J. Michael Losh
 	 
	 	J. Michael Losh 	 
	 	 	 

 

 

	 	 	 	 	 

RESOLUTIONS OF THE PRICING COMMITTEE

OF THE BOARD OF DIRECTORS OF

MASCO CORPORATION

September 28, 2006

     WHEREAS, Masco Corporation, a Delaware corporation (the “Company”) the Company has filed and
amended a Registration Statement (No. 333-100641) on Form S-3 with the Securities and Exchange
Commission, which is in effect;

     WHEREAS, the Company desires to create a series of securities under the indenture dated as of
February 12, 2001 (the “Indenture”), with The Bank of New York Trust Company, N. A. (as successor
to Bank One Trust Company, National Association, effective October 1, 2006) (the “Trustee”),
providing for the issuance from time to time of unsecured debentures, notes or other evidences of
indebtedness of this Company (“Securities”) in one or more series under such Indenture; and

     WHEREAS, capitalized terms used in these resolutions and not otherwise defined are used with
the same meaning ascribed to such terms in the Indenture;

     THEREFORE, BE IT RESOLVED, that there is established a series of Securities under the
Indenture, the terms of which shall be as follows:

     1. The Securities of one series shall be designated as the “6.125% Notes Due 2016.”

     2. The aggregate principal amount of Securities of such series which may be
authenticated and delivered under the Indenture is limited to One Billion Dollars
($1,000,000,000), except for Securities of such series authenticated and delivered upon
registration of, transfer of, or in exchange for, or in lieu of, other Securities of such
series pursuant to Sections 3.04, 3.05, 3.06, 9.06 or 11.07 of the Indenture.

     3. The date on which the principal of the Securities of such series shall be payable
is October 3, 2016.

     4. The Securities of such series shall bear interest from October 3, 2006 at the rate
of 6.125% per annum, payable semi-annually on April 3 and October 3 of each year commencing
on April 3, 2007 until the principal thereof is paid or made available for payment. The
March 15 or September 15 (whether or not a business day), as the case may be, next
preceding each such interest payment date shall be the “record date” for the determination
of holders to whom interest is payable.

 

 

     5. The Securities of such series shall be issued initially in the form of global
securities registered in the name of Cede & Co., as nominee of The Depository Trust Company
(“DTC”), and will be held by the Trustee as custodian for DTC. The Securities shall be
subject to the procedures of DTC and will not be issued in definitive registered form.

     6. The principal of and interest on the Securities of such series shall be payable at
the office or agency of this Company maintained for such purpose in Chicago, Illinois or at
any other office or agency designated by the Company for such purpose pursuant to the
Indenture.

     7. The Securities of such series shall be subject to redemption in whole or in part
prior to maturity, at the Company’s option, at a redemption price established in accordance
with current market practice, substantially as follows: the redemption price shall be
equal to the greater of (i) 100% of the principal amount of the Securities plus accrued
interest to the redemption date, or (ii) the sum of the present values of the remaining
principal amount and scheduled payments of interest on the Securities of such series to be
redeemed (other than accrued interest to the redemption date), discounted to the redemption
date on a semi-annual basis at the appropriate treasury rate plus 25 basis points plus
accrued interest to the redemption date.

     8. The Securities of such series shall be issuable in denominations of One Thousand
Dollars ($1,000) and any integral multiples thereof.

     9. The Securities shall be issuable at a price such that this Company shall receive
Nine Hundred Eighty Eight Million Four Hundred Ten Thousand Dollars ($988,410,000) after an
underwriting discount of Six Million Five Hundred Thousand Dollars ($6,500,000).

     10. The Securities shall be subject to Defeasance and discharge pursuant to Section
4.02 of the Indenture and to Covenant Defeasance pursuant to Section 10.06 of the Indenture
with respect to any term, provision or condition set forth in any negative or restrictive
covenant of the Company applicable to the Securities.

     11. The Securities shall be subject to the following change of control repurchase
event:

          If a Change of Control Repurchase Event occurs, unless the Company has exercised its
right to redeem the Securities as described above, the Company will make an offer to each
holder of Securities to repurchase all or any part (in integral multiples of $1,000) of
that holders’ Securities at a repurchase price in cash equal to 101% of the aggregate
principal amount of Securities repurchased plus any accrued and unpaid interest on the
Securities repurchased to the date of purchase. Within 30 days following any Change of
Control Repurchase Event or, at the Company’s option, prior to any Change of Control, but
after the

 

 

public announcement of the Change of Control, the Company will mail a notice to each
holder, with a copy to the Trustee, describing the transaction or transactions that
constitute or may constitute the Change of Control Repurchase Event and offering to
repurchase Securities on the payment date specified in the notice, which date will be no
earlier than 30 days and no later than 60 days from the date such notice is mailed. The
notice shall, if mailed prior to the date of consummation of the Change of Control, state
that the offer to purchase is conditioned on the Change of Control Repurchase Event
occurring on or prior to the payment date specified in the notice. The Company will comply
with the requirements of Rule 14e-1 under the Securities Exchange Act of 1934, as amended
(the “Exchange Act”), and any other securities laws and regulations thereunder to the
extent those laws and regulations are applicable in connection with the repurchase of the
Securities as a result of a Change of Control Repurchase Event. To the extent that the
provisions of any securities laws or regulations conflict with the Change of Control
Repurchase Event provisions of the Securities, the Company will comply with the applicable
securities laws and regulations and will not be deemed to have breached its obligations
under the Change of Control Repurchase Event provisions of the Securities by virtue of such
conflict.

     On the Change of Control Repurchase Event payment date, the Company will, to the
extent lawful:

	 	1.	 	accept for payment all Securities or portions of Securities
properly tendered pursuant to the Company’s offer;
	 
	 	2.	 	deposit with the paying agent an amount equal to the
aggregate purchase price in respect of all Securities or portions of
Securities properly tendered; and
	 
	 	3.	 	deliver or cause to be delivered to the Trustee the
Securities properly accepted, together with an officers’ certificate stating
the aggregate principal amount of Securities being purchased by the Company.

The paying agent will promptly mail to each holder of Securities properly tendered the
purchase price for the Securities, and the Trustee will promptly authenticate and mail (or
cause to be transferred by book-entry) to each holder a new Security equal in principal
amount to any unpurchased portion of any Securities surrendered; provided that each new
Security will be in a principal amount of $1,000 or an integral multiple of $1,000.

     The Company will not be required to make an offer to repurchase the Securities upon a
Change of Control Repurchase Event if a third party makes an offer in the manner, at the
times and otherwise in compliance with the requirements for an offer made by the Company
and such third party purchases all Securities properly tendered and not withdrawn under it
offer.

 

 

     “Below Investment Grade Rating Event” means the Securities are rated below investment
grade by both Rating Agencies on any date from the date of the public notice of an
arrangement that could result in a Change of Control until the end of the 60-day period
following public notice of the occurrence of a Change of Control (which period shall be
extended so long as the rating of the Securities is under publicly announced consideration
for possible downgrade by either of the Rating Agencies); provided that a Below Investment
Grade Rating Event otherwise arising by virtue of a particular reduction in rating shall
not be deemed to have occurred in respect of a particular Change of Control (and thus shall
not be deemed a Below Investment Grade Rating Event for purposes of the definition of
Change of Control Repurchase Event hereunder) if the rating agencies making the reduction
in rating to which this definition would otherwise apply do not announce or publicly
confirm or inform the Trustee in writing at its request that the reduction was the result,
in whole or in part, of any event or circumstance comprised of or arising as a result of,
or in respect of, the applicable Change of Control (whether or not the applicable Change of
Control shall have occurred at the time of the Below Investment Grade rating Event).

     “Change of Control” means the consummation of any transaction (including, without
limitation, any merger or consolidation) the result of which is that any “person” (as that
term is used in Section 13(d)(3) of the Exchange Act), becomes the beneficial owner,
directly or indirectly, of more than 50% of the Company’s voting stock, measured by voting
power rather than number of shares.

     “Change of Control Repurchase Event” means the occurrence of both a Change of Control
and a Below Investment Grade Rating Event.

     “Investment Grade” means a rating of Baa3 or better by Moody’s (or its equivalent
under any successor rating categories of Moody’s); a rating of BBB- or better by S&P (or
its equivalent under any successor rating categories of S&P); and the equivalent investment
grade credit rating from any additional rating agency or rating agencies selected by the
Company.

     “Moody’s” means Moody’s Investor Services Inc.

     “Rating Agency” means (1) each of Moody’s and S&P; and (2) if either of Moody’s or S&P
ceases to rate the Securities or fails to make a rating of the Securities publicly
available for reasons outside of its control, a “nationally recognized statistical rating
organization” within the meaning of Rule 15c3-1(c)(2)(vi)(F) under the Exchange Act,
selected by the Company (as certified by a resolution of the Board of Directors) as a
replacement agency for Moody’s or S&P, or both, as the case may be.

     “S&P” means Standard & Poor’s Ratings Services, a division of McGraw-Hill, Inc.

 

 

     “Voting Stock” of any specified person (as that term is used in Section 13(d)(3) of
the Exchange Act) as of any date means the capital stock of such person that is at the time
entitled to vote generally in the election of the board of directors of such person.

     FURTHER RESOLVED, that the Securities of each such series are declared to be issued under the
Indenture and subject to the provisions hereof;

     FURTHER RESOLVED, that the Chairman of the Board, the President or any Vice President of the
Company is authorized to execute, on the Company’s behalf and in its name, and the Secretary or any
Assistant Secretary of the Company is authorized to attest to such execution and under the
Company’s seal (which may be in the form of a facsimile of the Company’s seal), $1,000,000,000
aggregate principal amount of the Securities of such series (and in addition, Securities to replace
lost, stolen, mutilated or destroyed Securities and Securities required for exchange, substitution
or transfer, all as provided in the Indenture) and to deliver such Securities to the Trustee for
authentication, and the Trustee is authorized and directed thereupon to authenticate and deliver
the same to or upon the written order of this Company as provided in the Indenture;

     FURTHER RESOLVED, that the signatures of the Company officers so authorized to execute the
Securities of such series may be the manual or facsimile signatures of the present or any future
authorized officers and may be imprinted or otherwise reproduced thereon, and the Company for such
purpose adopts each facsimile signature as binding upon it notwithstanding the fact that at the
time the respective Securities shall be authenticated and delivered or disposed of, the individual
so signing shall have ceased to hold such office;

     FURTHER RESOLVED, that Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global
Markets Inc. and J.P. Morgan Securities Inc., are appointed joint book-running managers of the
underwriters for the issuance and sale of the Securities of such series, and the Chairman of the
Board, the President or any Vice President of the Company is authorized, in the Company’s name and
on its behalf, to execute and deliver an Underwriting Agreement, substantially in the form
heretofore approved by the Company’s Board of Directors, with the underwriters, with such changes
and insertions therein as are appropriate to conform such Underwriting Agreement to the terms set
forth herein or otherwise as the officer executing such Underwriting Agreement shall approve and as
are not inconsistent with these resolutions, such approval to be conclusively evidenced by such
officer’s execution and delivery of the Underwriting Agreement;

     FURTHER RESOLVED, that The Bank of New York Trust Company, N. A. (as successor in interest to
J.P. Morgan Trust Company), the Trustee under the Indenture, is appointed trustee for Securities of
such series, and as Agent of this Company for the purpose of effecting the registration, transfer
and exchange of the Securities of such series as provided in the Indenture, and the corporate trust
office of The Bank of New York Trust Company, N. A., in Chicago, Illinois is designated pursuant to
the Indenture as the office or agency of the Company where such Securities may be presented for
registration, transfer

 

 

and exchange and where notices and demands to or upon this Company in respect of the
Securities and the Indenture may be served;

     FURTHER RESOLVED, that The Bank of New York Trust Company, N. A. (as successor in interest to
J.P. Morgan Trust Company), is appointed Paying Agent of this Company for the payment of interest
on and principal of the Securities of such series, and the corporate trust office of The Bank of
New York Trust Company, N. A., is designated, pursuant to the Indenture, as the office or agency of
the Company where Securities may be presented for payment; and

     FURTHER RESOLVED, that each of the Company’s officers is authorized and directed, on behalf of
the Company and in its name, to do or cause to be done everything such officer deems advisable to
effect the sale and delivery of the Securities of such series pursuant to the Underwriting
Agreement and otherwise to carry out the Company’s obligations under the Underwriting Agreement,
and to do or cause to be done everything and to execute and deliver all documents as such officer
deems advisable in connection with the execution and delivery of the Underwriting Agreement and the
execution, authentication and delivery of such Securities (including, without limiting the
generality of the foregoing, delivery to the Trustee of the Securities for authentication and of
requests or orders for the authentication and delivery of Securities).

 

 

     UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY, 55 WATER STREET, NEW YORK, NEW YORK (THE “DEPOSITARY”), TO MASCO CORPORATION OR ITS AGENT
FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITARY (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.

MASCO CORPORATION

6.125% Securities Due 2016

			
	 	 	 
	CUSIP No. 574599BD7
	No. 1	 	$500,000,000

     Masco Corporation, a corporation duly organized and existing under the laws of Delaware
(herein called the “Company,” which term includes any successor corporation under the Indenture
hereinafter referred to), for value received, hereby promises to pay to CEDE & CO. or registered
assigns, the principal sum of Five Hundred Million Dollars on October 3, 2016, and to pay interest
thereon from October 3, 2006 or from the most recent Interest Payment Date to which interest has
been paid or duly provided for, semi-annually on April 3 and October 3 in each year, commencing
April 3, 2007, at the rate of 6.125% per annum, until the principal hereof is paid or made
available for payment. The interest so payable, and punctually paid or duly provided for, on any
Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this
Security (or one or more Predecessor Securities) is registered at the close of business on the
Regular Record Date for such interest, which shall be the March 15 or September 15 (whether or not
a Business Day), as the case may be, next preceding such Interest Payment Date. Any such interest
not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on
such Regular Record Date and may either be paid to the Person in whose name this Security (or one
or more Predecessor Securities) is registered at the close of business on a Special Record Date for
the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to
Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be
paid at any time in any other lawful manner not inconsistent with the requirements of any

 

 

securities exchange on which the Securities of this series may be listed, and upon such notice as
may be required by such exchange, all as more fully provided in said Indenture. Interest on the Securities shall be computed on the basis of a 360-day year
consisting of twelve 30-day months.

     Payment of the principal of (and premium, if any) and any such interest on this Security will
be made at the office or agency of the Company maintained for that purpose, in such coin or
currency of the United States of America as at the time of payment is legal tender for payment of
public and private debts; provided, however, that at the option of the Company payment of interest
may be made by check mailed to the address of the Person entitled thereto as such address shall
appear in the Security Register.

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

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

2

 

     IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its
corporate seal.

Dated: October 3, 2006

	 	 	 	 	 
	 	MASCO CORPORATION

 	 
	 	By:  	/s/ Timothy Wadhams
 	 
	 	 	Timothy Wadhams 	 
	 	 	Senior Vice President and

Chief Financial Officer 	 

	 	 	 	 
	Attest:	 	/s/ Eugene A. Gargaro, Jr.
 	 
	 	 	Eugene A. Gargaro, Jr. 	 
	 	 	Secretary 	 

3

 

	 	 	 	 	 

FORM OF TRUSTEE’S CERTIFICATE OF AUTHENTICATION

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

Date of Authentication: October 3, 2006

	 	 	 	 	 
	 	The Bank of New York Trust Company,

N.A., as successor in interest to

J.P. Morgan Trust Company, N.A., as

Trustee

 	 
	 	By:  	/s/ Benita A. Vaughn
 	 
	 	 	Authorized Officer 	 
	 	 	 	 

4

 

	 	 	 	 	 

REVERSE OF SECURITY

     This Security is one of a duly authorized issue of securities of the Company (herein called
the “Securities”), issued and to be issued in one or more series under an Indenture, dated as of
February 12, 2001 (herein called the “Indenture”), between the Company and The Bank of New York
Trust Company, N.A. (as successor in interest to J.P. Morgan Trust Company, N.A.), as Trustee
(herein called the “Trustee,” which term includes any successor Trustee under the Indenture), to
which Indenture and all indentures supplemental thereto reference is hereby made for a statement of
the respective rights, limitations of rights, duties and immunities thereunder of the Company, the
Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are
to be, authenticated and delivered. This Security is one of the series designated on the face
hereof, initially limited in aggregate principal amount to $1,000,000,000.

     The Securities will be redeemable at the option of the Company, in whole at any time or in
part from time to time (each, a “Redemption Date”) at a redemption price equal to the greater of
(i) 100% of their principal amount plus accrued interest to the Redemption Date and (ii) the sum,
as determined by the Independent Investment Banker, of the present values of the principal amount
and the remaining scheduled payments of interest on the Securities to be redeemed (exclusive of
interest accrued to such Redemption Date), discounted from the scheduled payment dates to the
Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months)
at the Treasury Rate plus 25 basis points plus accrued but unpaid interest thereon to the
Redemption Date. Notwithstanding the foregoing, installments of interest on Securities that are
due and payable on an interest payment date falling on or prior to the relevant Redemption Date
will be payable to the holders of such Securities registered as such at the close of business on
the relevant record date according to their terms and the provisions of the Indenture.

     If a Change of Control Repurchase Event occurs, unless the Company has exercised its right to
redeem the Securities, the Company will make an offer to the Holders of Securities to repurchase
all or any part (in integral multiples of $1,000) of that Holders’ Securities at a repurchase price
in cash equal to 101% of the aggregate principal amount of Securities repurchased plus any accrued
and unpaid interest on the Securities repurchased to the date of purchase. Within 30 days following
any Change of Control Repurchase Event or, at the Company’s option, prior to any Change of Control,
but after the public announcement of the Change of Control, the Company will mail a notice to each
Holder, with a copy to the Trustee, describing the transaction or transactions that constitute or
may constitute the Change of Control Repurchase Event and offering to repurchase Securities on

5

 

the
Payment Date specified in the notice, which date will be no earlier than 30 days and no later than
60 days from the date such notice is mailed. The notice shall, if mailed prior to the date of
consummation of the Change of Control, state that the offer to purchase is conditioned on the Change of Control Repurchase Event occurring
on or prior to the Payment Date specified in the notice. The Company will comply with the
requirements of Rule 14e-1 under the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), and any other securities laws and regulations thereunder to the extent those laws and
regulations are applicable in connection with the repurchase of the Securities as a result of a
Change of Control Repurchase Event. To the extent that the provisions of any securities laws or
regulations conflict with the Change of Control Repurchase Event provisions of the Securities, the
Company will comply with the applicable securities laws and regulations and will not be deemed to
have breached its obligations under the Change of Control Repurchase Event provisions of the
Securities by virtue of such conflict.

     On the Change of Control Repurchase Event Payment Date, the Company will, to the extent
lawful:

	 	1.	 	accept for payment all Securities or portions of Securities properly
tendered pursuant to the Company’s offer;
	 
	 	2.	 	deposit with the Paying Agent an amount equal to the aggregate purchase
price in respect of all Securities or portions of Securities properly tendered; and
	 
	 	3.	 	deliver or cause to be delivered to the Trustee the Securities properly
accepted, together with an officers’ certificate stating the aggregate principal
amount of Securities being purchased by the Company.

     The Paying Agent will promptly mail to each Holder of Securities properly tendered the
purchase price for the Securities, and the Trustee will promptly authenticate and mail (or cause to
be transferred by book-entry) to each holder a new Security equal in principal amount to any
unpurchased portion of any Securities surrendered; provided that each new Security will be in a
principal amount of $1,000 or an integral multiple of $1,000.

     The Company will not be required to make an offer to repurchase the Securities upon a Change
of Control Repurchase Event if a third party makes such an offer in the manner, at the times and
otherwise in compliance with the requirements for an offer made by the Company and such third party
purchases all Securities properly tendered and not withdrawn under its offer.

6

 

     “Below Investment Grade Rating Event” means the Securities are rated below investment grade by
both Rating Agencies on any date from the date of the public notice of an arrangement that could
result in a Change of Control until the end of the 60-day period following public notice of the
occurrence of a Change of Control (which period shall be extended so long as the rating of the
Securities is under publicly announced consideration for possible downgrade by either of the Rating
Agencies); provided that a Below Investment Grade Rating Event otherwise arising by virtue of a particular reduction in rating shall not be deemed to have
occurred in respect of a particular Change of Control (and thus shall not be deemed a Below
Investment Grade Rating Event for purposes of the definition of Change of Control Repurchase Event
hereunder) if the rating agencies making the reduction in rating to which this definition would
otherwise apply do not announce or publicly confirm or inform the Trustee in writing at its request
that the reduction was the result, in whole or in part, of any event or circumstance comprised of
or arising as a result of, or in respect of, the applicable Change of Control (whether or not the
applicable Change of Control shall have occurred at the time of the Below Investment Grade Rating
Event).

     “Change of Control” means the consummation of any transaction (including, without limitation,
any merger or consolidation) the result of which is that any “person” (as that term is used in
Section 13(d)(3) of the Exchange Act), becomes the beneficial owner, directly or indirectly, of
more than 50% of the Company’s voting stock, measured by voting power rather than number of shares.

     “Change of Control Repurchase Event” means the occurrence of both a Change of Control and a
Below Investment Grade Rating Event.

     “Comparable Treasury Issue” means the United States Treasury security selected by the
Independent Investment Banker as having a maturity comparable to the remaining term of the
Securities to be redeemed that would be utilized, at the time of selection and in accordance with
customary financial practice, in pricing new issues of corporate debt securities of comparable
maturity to the remaining term of the Securities to be redeemed.

     “Comparable Treasury Price” means, with respect to any Redemption Date, the average of the
Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and
lowest such Reference Treasury Dealer Quotations, or if the Trustee obtains fewer than three such
Reference Treasury Dealer Quotations, the average of all such Reference Treasury Dealer Quotations.

     “Independent Investment Banker” means one of the Reference Treasury Dealers appointed by the
Trustee after consultation with the Company.

7

 

     “Investment Grade” means a rating of Baa3 or better by Moody’s (or its equivalent under any
successor rating categories of Moody’s); a rating of BBB- or better by S&P (or its equivalent under
any successor rating categories of S&P); and the equivalent investment grade credit rating from any
additional Rating Agency or Rating Agencies selected by the Company.

     “Moody’s” means Moody’s Investor Services Inc.

     “Paying Agent” means the The Bank of New York Trust Company, N.A.

     “Rating Agency” means (1) each of Moody’s and S&P; and (2) if either of Moody’s or S&P ceases
to rate the Securities or fails to make a rating of the Securities publicly available for reasons
outside of the Company’s control, a “nationally recognized statistical rating organization” within
the meaning of Rule 15c3-1(c)(2)(vi)(F) under the Exchange Act, selected by the Company (as
certified by a resolution of the Company’s board of directors) as a replacement agency for Moody’s
or S&P, or both, as the case may be.

     “Reference Treasury Dealer” means (a) each of Merrill Lynch, Pierce, Fenner & Smith
Incorporated and Citigroup Global Markets Inc. and their respective successors, unless either of
them ceases to be a primary U.S. Government securities dealer in New York City (a “Primary Treasury
Dealer”), in which case the Company shall substitute another Primary Treasury Dealer; and (b) any
other Primary Treasury Dealer selected by the Company.

     “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer
and any Redemption Date for the Securities, the average, as determined by the Trustee, of the bid
and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its
principal amount) quoted in writing to the Trustee by such Reference Treasury Dealer at 5:00 p.m.
New York City time, on the third Business Day preceding such Redemption Date.

     “S&P” means Standard & Poor’s Ratings Services, a division of McGraw-Hill, Inc.

     “Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the
semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated on the third
Business Day preceding such Redemption Date using a price for the Comparable Treasury Issue
(expressed as a percentage of its principal amount) equal to the Comparable Treasury price for such
Redemption Date.

8

 

     “Voting Stock” of any specified “person” (as that term is used in Section 13(d)(3) of the
Exchange Act) as of any date means the capital stock of such person that is at the time entitled to
vote generally in the election of the board of directors of such person.

     This Security will be subject to defeasance and discharge and to defeasance of certain
obligations as set forth in the Indenture.

     The Indenture permits, with certain exceptions as therein provided, the amendment thereof and
the modification of the rights and obligations of the Company and the rights of the Holders of the
Securities of each series to be affected under the Indenture at any time by the Company and the
Trustee with the consent of the Holders of a majority in principal amount of the Securities at the
time Outstanding of each series to be affected. The Indenture also contains
provisions permitting the Holders of specified percentages in principal amount of the
Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of
such series, to waive compliance by the Company with certain provisions of the Indenture and
certain past defaults under the Indenture and their consequences. Any such consent or waiver by
the Holder of this Security shall be conclusive and binding upon such Holder and upon all future
Holders of this Security and of any Security issued upon the registration of transfer hereof or in
exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon
this Security.

     As provided in and subject to the provisions of the Indenture, the Holder of this Security
shall not have the right to institute any proceeding with respect to the Indenture or for the
appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall
have previously given the Trustee written notice of a continuing Event of Default with respect to
the Securities of this series, the Holders of not less than 25% in principal amount of the
Securities of this series at the time Outstanding shall have made written request to the Trustee to
institute proceedings in respect of such Event of Default as Trustee and offered the Trustee
reasonable indemnity, and the Trustee shall not have received from the Holders of a majority in
principal amount of Securities of this series at the time Outstanding a direction inconsistent with
such request, and shall have failed to institute any such proceeding, for 60 days after receipt of
such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted
by the Holder of this Security for the enforcement of any payment of principal hereof or any
premium or interest hereon on or after the respective due dates expressed herein.

     No reference herein to the Indenture and no provision of this Security or of the Indenture
shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay
the principal of (and premium, if any) and

9

 

interest on this Security herein provided, and at the
times, place and rate, and in the coin or currency, herein prescribed.

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

     The Securities of this series are issuable only in registered form without coupons in
denominations of $1,000 and any integral multiple thereof. As provided in the Indenture and
subject to certain limitations therein set forth,
Securities of this series are exchangeable for a like aggregate principal amount of Securities
of this series of a different authorized denomination, as requested by the Holder surrendering the
same.

     No service charge shall be made for any such registration of transfer or exchange, but the
Company may require payment of a sum sufficient to cover any tax or other governmental charge
payable in connection therewith.

     Prior to due presentment of this 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 this
Security is registered as the owner hereof for all purposes, whether or not this Security be
overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the
contrary.

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

10

 

     UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY, 55 WATER STREET, NEW YORK, NEW YORK (THE “DEPOSITARY”), TO MASCO CORPORATION OR ITS AGENT
FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITARY (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.

MASCO CORPORATION

6.125% Securities Due 2016

			
	 	 	 
	CUSIP No. 574599BD7
	Note 2	 	$500,000,000

     Masco Corporation, a corporation duly organized and existing under the laws of Delaware
(herein called the “Company,” which term includes any successor corporation under the Indenture
hereinafter referred to), for value received, hereby promises to pay to CEDE & CO. or registered
assigns, the principal sum of Five Hundred Million Dollars on October 3, 2016, and to pay interest
thereon from October 3, 2006 or from the most recent Interest Payment Date to which interest has
been paid or duly provided for, semi-annually on April 3 and October 3 in each year, commencing
April 3, 2007, at the rate of 6.125% per annum, until the principal hereof is paid or made
available for payment. The interest so payable, and punctually paid or duly provided for, on any
Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this
Security (or one or more Predecessor Securities) is registered at the close of business on the
Regular Record Date for such interest, which shall be the March 15 or September 15 (whether or not
a Business Day), as the case may be, next preceding such Interest Payment Date. Any such interest
not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on
such Regular Record Date and may either be paid to the Person in whose name this Security (or one
or more Predecessor Securities) is registered at the close of business on a Special Record Date for
the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to
Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be
paid at any time in any other lawful manner not inconsistent with the requirements of any

 

 

securities exchange on which the Securities of this series may be listed, and upon such notice as
may be required by such exchange, all as more fully provided in said Indenture. Interest on the Securities shall be computed on the basis of a 360-day year
consisting of twelve 30-day months.

     Payment of the principal of (and premium, if any) and any such interest on this Security will
be made at the office or agency of the Company maintained for that purpose, in such coin or
currency of the United States of America as at the time of payment is legal tender for payment of
public and private debts; provided, however, that at the option of the Company payment of interest
may be made by check mailed to the address of the Person entitled thereto as such address shall
appear in the Security Register.

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

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

2

 

     IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its
corporate seal.

Dated: October 3, 2006

	 	 	 	 	 
	 	MASCO CORPORATION

 	 
	 	By:  	/s/ Timothy Wadhams
 	 
	 	 	Timothy Wadhams 	 
	 	 	Senior Vice President and

Chief Financial Officer 	 

	 	 	 	 
	Attest:	 	/s/ Eugene A. Gargaro, Jr.
 	 
	 	 	Eugene A. Gargaro, Jr. 	 
	 	 	Secretary 	 

3

 

	 	 	 	 	 

FORM OF TRUSTEE’S CERTIFICATE OF AUTHENTICATION

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

Date of Authentication: October 3, 2006

	 	 	 	 	 
	 	The Bank of New York Trust Company,

N.A., as successor in interest to

J.P. Morgan Trust Company, N.A., as

Trustee

 	 
	 	By:  	/s/ Benita A. Vaughn
 	 
	 	 	Authorized Officer 	 
	 	 	 	 

4

 

	 	 	 	 	 

REVERSE OF SECURITY

     This Security is one of a duly authorized issue of securities of the Company (herein called
the “Securities”), issued and to be issued in one or more series under an Indenture, dated as of
February 12, 2001 (herein called the “Indenture”), between the Company and The Bank of New York
Trust Company, N.A. (as successor in interest to J.P. Morgan Trust Company, N.A.), as Trustee
(herein called the “Trustee,” which term includes any successor Trustee under the Indenture), to
which Indenture and all indentures supplemental thereto reference is hereby made for a statement of
the respective rights, limitations of rights, duties and immunities thereunder of the Company, the
Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are
to be, authenticated and delivered. This Security is one of the series designated on the face
hereof, initially limited in aggregate principal amount to $1,000,000,000.

     The Securities will be redeemable at the option of the Company, in whole at any time or in
part from time to time (each, a “Redemption Date”) at a redemption price equal to the greater of
(i) 100% of their principal amount plus accrued interest to the Redemption Date and (ii) the sum,
as determined by the Independent Investment Banker, of the present values of the principal amount
and the remaining scheduled payments of interest on the Securities to be redeemed (exclusive of
interest accrued to such Redemption Date), discounted from the scheduled payment dates to the
Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months)
at the Treasury Rate plus 25 basis points plus accrued but unpaid interest thereon to the
Redemption Date. Notwithstanding the foregoing, installments of interest on Securities that are
due and payable on an interest payment date falling on or prior to the relevant Redemption Date
will be payable to the holders of such Securities registered as such at the close of business on
the relevant record date according to their terms and the provisions of the Indenture.

     If a Change of Control Repurchase Event occurs, unless the Company has exercised its right to
redeem the Securities, the Company will make an offer to the Holders of Securities to repurchase
all or any part (in integral multiples of $1,000) of that Holders’ Securities at a repurchase price
in cash equal to 101% of the aggregate principal amount of Securities repurchased plus any accrued
and unpaid interest on the Securities repurchased to the date of purchase. Within 30 days following
any Change of Control Repurchase Event or, at the Company’s option, prior to any Change of Control,
but after the public announcement of the Change of Control, the Company will mail a notice to each
Holder, with a copy to the Trustee, describing the transaction or transactions that constitute or
may constitute the Change of Control Repurchase Event and offering to repurchase Securities on

5

 

the
Payment Date specified in the notice, which date will be no earlier than 30 days and no later than
60 days from the date such notice is mailed. The notice shall, if mailed prior to the date of
consummation of the Change of Control, state that the offer to purchase is conditioned on the Change of Control Repurchase Event occurring
on or prior to the Payment Date specified in the notice. The Company will comply with the
requirements of Rule 14e-1 under the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), and any other securities laws and regulations thereunder to the extent those laws and
regulations are applicable in connection with the repurchase of the Securities as a result of a
Change of Control Repurchase Event. To the extent that the provisions of any securities laws or
regulations conflict with the Change of Control Repurchase Event provisions of the Securities, the
Company will comply with the applicable securities laws and regulations and will not be deemed to
have breached its obligations under the Change of Control Repurchase Event provisions of the
Securities by virtue of such conflict.

     On the Change of Control Repurchase Event Payment Date, the Company will, to the extent
lawful:

	 	1.	 	accept for payment all Securities or portions of Securities properly
tendered pursuant to the Company’s offer;
	 
	 	2.	 	deposit with the Paying Agent an amount equal to the aggregate purchase
price in respect of all Securities or portions of Securities properly tendered; and
	 
	 	3.	 	deliver or cause to be delivered to the Trustee the Securities properly
accepted, together with an officers’ certificate stating the aggregate principal
amount of Securities being purchased by the Company.

     The Paying Agent will promptly mail to each Holder of Securities properly tendered the
purchase price for the Securities, and the Trustee will promptly authenticate and mail (or cause to
be transferred by book-entry) to each holder a new Security equal in principal amount to any
unpurchased portion of any Securities surrendered; provided that each new Security will be in a
principal amount of $1,000 or an integral multiple of $1,000.

     The Company will not be required to make an offer to repurchase the Securities upon a Change
of Control Repurchase Event if a third party makes such an offer in the manner, at the times and
otherwise in compliance with the requirements for an offer made by the Company and such third party
purchases all Securities properly tendered and not withdrawn under its offer.

6

 

     “Below Investment Grade Rating Event” means the Securities are rated below investment grade by
both Rating Agencies on any date from the date of the public notice of an arrangement that could
result in a Change of Control until the end of the 60-day period following public notice of the
occurrence of a Change of Control (which period shall be extended so long as the rating of the
Securities is under publicly announced consideration for possible downgrade by either of the Rating
Agencies); provided that a Below Investment Grade Rating Event
otherwise arising by virtue of a particular reduction in rating shall not be deemed to have
occurred in respect of a particular Change of Control (and thus shall not be deemed a Below
Investment Grade Rating Event for purposes of the definition of Change of Control Repurchase Event
hereunder) if the rating agencies making the reduction in rating to which this definition would
otherwise apply do not announce or publicly confirm or inform the Trustee in writing at its request
that the reduction was the result, in whole or in part, of any event or circumstance comprised of
or arising as a result of, or in respect of, the applicable Change of Control (whether or not the
applicable Change of Control shall have occurred at the time of the Below Investment Grade Rating
Event).

     “Change of Control” means the consummation of any transaction (including, without limitation,
any merger or consolidation) the result of which is that any “person” (as that term is used in
Section 13(d)(3) of the Exchange Act), becomes the beneficial owner, directly or indirectly, of
more than 50% of the Company’s voting stock, measured by voting power rather than number of shares.

     “Change of Control Repurchase Event” means the occurrence of both a Change of Control and a
Below Investment Grade Rating Event.

     “Comparable Treasury Issue” means the United States Treasury security selected by the
Independent Investment Banker as having a maturity comparable to the remaining term of the
Securities to be redeemed that would be utilized, at the time of selection and in accordance with
customary financial practice, in pricing new issues of corporate debt securities of comparable
maturity to the remaining term of the Securities to be redeemed.

     “Comparable Treasury Price” means, with respect to any Redemption Date, the average of the
Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and
lowest such Reference Treasury Dealer Quotations, or if the Trustee obtains fewer than three such
Reference Treasury Dealer Quotations, the average of all such Reference Treasury Dealer Quotations.

     “Independent Investment Banker” means one of the Reference Treasury Dealers appointed by the
Trustee after consultation with the Company.

7

 

     “Investment Grade” means a rating of Baa3 or better by Moody’s (or its equivalent under any
successor rating categories of Moody’s); a rating of BBB- or better by S&P (or its equivalent under
any successor rating categories of S&P); and the equivalent investment grade credit rating from any
additional Rating Agency or Rating Agencies selected by the Company.

     “Moody’s” means Moody’s Investor Services Inc.

     “Paying Agent” means the The Bank of New York Trust Company, N.A.

     “Rating Agency” means (1) each of Moody’s and S&P; and (2) if either of Moody’s or S&P ceases
to rate the Securities or fails to make a rating of the Securities publicly available for reasons
outside of the Company’s control, a “nationally recognized statistical rating organization” within
the meaning of Rule 15c3-1(c)(2)(vi)(F) under the Exchange Act, selected by the Company (as
certified by a resolution of the Company’s board of directors) as a replacement agency for Moody’s
or S&P, or both, as the case may be.

     “Reference Treasury Dealer” means (a) each of Merrill Lynch, Pierce, Fenner & Smith
Incorporated and Citigroup Global Markets Inc. and their respective successors, unless either of
them ceases to be a primary U.S. Government securities dealer in New York City (a “Primary Treasury
Dealer”), in which case the Company shall substitute another Primary Treasury Dealer; and (b) any
other Primary Treasury Dealer selected by the Company.

     “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer
and any Redemption Date for the Securities, the average, as determined by the Trustee, of the bid
and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its
principal amount) quoted in writing to the Trustee by such Reference Treasury Dealer at 5:00 p.m.
New York City time, on the third Business Day preceding such Redemption Date.

     “S&P” means Standard & Poor’s Ratings Services, a division of McGraw-Hill, Inc.

     “Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the
semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated on the third
Business Day preceding such Redemption Date using a price for the Comparable Treasury Issue
(expressed as a percentage of its principal amount) equal to the Comparable Treasury price for such
Redemption Date.

8

 

     “Voting Stock” of any specified “person” (as that term is used in Section 13(d)(3) of the
Exchange Act) as of any date means the capital stock of such person that is at the time entitled to
vote generally in the election of the board of directors of such person.

     This Security will be subject to defeasance and discharge and to defeasance of certain
obligations as set forth in the Indenture.

     The Indenture permits, with certain exceptions as therein provided, the amendment thereof and
the modification of the rights and obligations of the Company and the rights of the Holders of the
Securities of each series to be affected under the Indenture at any time by the Company and the
Trustee with the consent of the Holders of a majority in principal amount of the Securities at the
time Outstanding of each series to be affected. The Indenture also contains
provisions permitting the Holders of specified percentages in principal amount of the
Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of
such series, to waive compliance by the Company with certain provisions of the Indenture and
certain past defaults under the Indenture and their consequences. Any such consent or waiver by
the Holder of this Security shall be conclusive and binding upon such Holder and upon all future
Holders of this Security and of any Security issued upon the registration of transfer hereof or in
exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon
this Security.

     As provided in and subject to the provisions of the Indenture, the Holder of this Security
shall not have the right to institute any proceeding with respect to the Indenture or for the
appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall
have previously given the Trustee written notice of a continuing Event of Default with respect to
the Securities of this series, the Holders of not less than 25% in principal amount of the
Securities of this series at the time Outstanding shall have made written request to the Trustee to
institute proceedings in respect of such Event of Default as Trustee and offered the Trustee
reasonable indemnity, and the Trustee shall not have received from the Holders of a majority in
principal amount of Securities of this series at the time Outstanding a direction inconsistent with
such request, and shall have failed to institute any such proceeding, for 60 days after receipt of
such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted
by the Holder of this Security for the enforcement of any payment of principal hereof or any
premium or interest hereon on or after the respective due dates expressed herein.

     No reference herein to the Indenture and no provision of this Security or of the Indenture
shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay
the principal of (and premium, if any) and

9

 

interest on this Security herein provided, and at the
times, place and rate, and in the coin or currency, herein prescribed.

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

     The Securities of this series are issuable only in registered form without coupons in
denominations of $1,000 and any integral multiple thereof. As provided in the Indenture and
subject to certain limitations therein set forth,
Securities of this series are exchangeable for a like aggregate principal amount of Securities
of this series of a different authorized denomination, as requested by the Holder surrendering the
same.

     No service charge shall be made for any such registration of transfer or exchange, but the
Company may require payment of a sum sufficient to cover any tax or other governmental charge
payable in connection therewith.

     Prior to due presentment of this 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 this
Security is registered as the owner hereof for all purposes, whether or not this Security be
overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the
contrary.

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

10

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