Document:

QuickLinks
 -- Click here to rapidly navigate through this document

 
 

Exhibit 4.27    
    

ONE MARKET

SAN FRANCISCO, CALIFORNIA  

 OFFICE LEASE AGREEMENT  

BETWEEN 

CA-ONE MARKET LIMITED PARTNERSHIP, a Delaware limited partnership
  ("LANDLORD") 

AND 

AUTONOMY, INC., a New Jersey corporation
  ("TENANT") 

  

 
 

OFFICE LEASE AGREEMENT    
    

        THIS OFFICE LEASE AGREEMENT (the "Lease") is made and entered into
as of the            day of                        , 2004, by and
between CA-ONE MARKET LIMITED PARTNERSHIP, a Delaware limited partnership
("Landlord") and AUTONOMY, INC., a New Jersey corporation
("Tenant"). The following exhibits and attachments are incorporated into and made a part of the Lease:  Exhibit A-1 (Outline and Location of Premises),
Exhibit A-2 (Legal
Description of Project), Exhibit B (Expenses and Taxes), Exhibit C (Work Letter, if
required), Exhibit D (Commencement Letter), Exhibit E (Building Rules and Regulations),  Exhibit F (Additional Provisions, if required), Exhibit G (Parking Agreement, if
required), Exhibit H (Asbestos Notification) and Exhibit I (Agreement of Subordination,
Non-Disturbance and Attornment). 

1.     Basic Lease Information.  

	1.01
	"Building" shall mean the 43-story office tower, the 28-story office tower, the
6-story base out of which such towers rise, the glass enclosed galleria and a portion of the ground floor of the Southern Pacific Transportation Company General Office Building, together
with all appurtenant plazas, subgrade areas and garages bounded by Market, Spear, Mission and Steuart Streets in the City of San Francisco, California, commonly known as One Market.
"Rentable Square Footage of the Project" is deemed to be 1,458,808 square feet.

	1.02
	"Premises" shall mean the area shown on Exhibit A-1
to this Lease. The Premises is located on the 19th floor and known as Suite 1900. If the Premises include one or more floors in their entirety, all
corridors and restroom facilities located on such full floor(s) shall be considered part of the Premises. The "Rentable Square Footage of the Premises"
is deemed to be 18,203 square feet. Landlord and Tenant stipulate and agree that the Rentable Square Footage of the Project and the Rentable Square
Footage of the Premises are correct. Landlord represents that the Premises has been measured using a modified version of the American National Standard Institute/BOMA Method of Floor Measurement for
office space, as promulgated by the Building Owners and Managers Association ("BOMA") in effect at the time of the execution of this Lease.

	1.03
	"Base Rent": 

	Period or Months of Term
	 	Annual Rate

Per Square Foot
	 	Monthly

Base Rent

	Months 1-36	 	$35.50	 	$53,850.54
	Months 37-72	 	$37.00	 	$56,125.92
	Months 73-96	 	$40.00	 	$60,676.67

Base Rent Abatement:    Notwithstanding anything in this Section of the Lease to the contrary, so long as Tenant is not in default under this
Lease, Tenant shall be entitled to an abatement of Base Rent in the amount of $53,850.54 for the 1st full calendar month of the Term (the "Base Rent Abatement Period"). The total amount
of Base Rent abated during the Base Rent Abatement Period shall equal $53,850.54 (the "Abated Base Rent"). If Tenant commits a Monetary Default or material non-Monetary Default at any time
during the Term and fails to cure such default within any applicable cure period under the Lease, all Abated Base Rent shall immediately become due and payable. The payment by Tenant of the Abated
Base Rent in the event of a default shall not limit or affect any of Landlord's other rights, pursuant to this Lease or at law or in equity. During the Base Rent Abatement Period, only Base Rent shall
be abated, and all Additional Rent and other costs and charges specified in this Lease shall remain as due and payable pursuant to the provisions of this Lease. 

	1.04
	"Tenant's Pro Rata Share": 1.2478%. 

1

 

	1.05
	"Base Year" for Taxes (defined in Exhibit B): 2004;
"Base Year" for Expenses (defined in Exhibit B): 2004.

	1.06
	"Term": A period of 96 months. Subject to Section 3, the Term shall commence on May 1, 2004 (the
"Commencement Date") and, unless terminated early in accordance with this Lease, end on April 30,
2012 (the "Termination Date").

	1.07
	Allowance. $45.00 per rentable square foot of the Premises, as described in Exhibit C.

	1.08
	"Security Deposit": $50,000, as more fully described in Section 6.

	1.09
	"Guarantor(s)": None.

	1.10
	"Broker(s)": CB Richard Ellis.

	1.11
	"Permitted Use": General office use; provided that in no event shall any space occupied by Tenant be (i) used to
serve on-site fresh squeezed fruit and vegetable juices and falafel and lavosh sandwiches; or (ii) used to operate a restaurant serving primarily Asian cuisine; or (iii) used
to operate a newsstand facility; or (iv) used to operate a retail banking facility; or (v) used to provide catering services for events after 5:30 p.m. on weekdays and all day on
weekends (including all federal and state holidays); or (vi) used for the operation of a "full-service" bar, selling beer, wine and liquor; or (vii) used for the operation of
a "full-service" restaurant; or (viii) used as a general dentistry practice; or (ix) used for the sale of juices and smoothies; or (x) used for the sale of
pre-packaged specialty sandwiches; or (xi) used for the sale of hamburgers; or (xii) used to sell submarine-type sandwiches.

	1.12
	"Notice Address(es)": 

	Landlord:	 	Tenant:
	

CA-One Market Limited Partnership

c/o Equity Office Management, L.L.C.

One Market

Spear Tower, Suite 600

San Francisco, California 94105

Attn: Project Manager	
 	

Prior to Commencement Date:

Autonomy, Inc.

301 Howard Street, 22nd Floor

San Francisco, California 94105

Attention: Lease Administrator
	

 	
 	

On and after Commencement Date:
	

 	
 	

Autonomy, Inc.

One Market Street, 19th Floor

Spear Tower

San Francisco, California 94105

Attention: Lease Administrator

A
copy of any notices to Landlord shall be sent to Equity Office, One Market, Spear Street Tower, Suite 600, San Francisco, California 94105, Attn: San Francisco Regional Counsel. 

	1.13
	"Business Day(s)" are Monday through Friday of each week, exclusive of New Year's Day, Presidents Day, Memorial Day,
Independence Day, Labor Day, Thanksgiving Day and Christmas Day ("Holidays"). Landlord may designate additional Holidays that are commonly recognized by
other office buildings in the area where the Building is located. "Building Service Hours" are 7:00 a.m. to 6:00 p.m. on Business Days.

	1.14
	"Landlord Work" means the work, if any, that Landlord is obligated to perform in the Premises pursuant to a separate
agreement (the "Work Letter"), if any, attached to this Lease 

2

 

as  Exhibit C. "Base Building Work" means the work that Landlord is obligated to perform as set forth in Section 9 of the Work Letter. 

	1.15
	"Project" means the 43-story office tower, the 28-story office tower, the 6-story
base out of which such towers rise, the glass enclosed galleria and a portion of the ground floor of the Southern Pacific Transportation Company General Office Building, together with all appurtenant
plazas, subgrade areas and garages bounded by Market, Spear, Mission and Steuart Streets in the City of San Francisco, California, known collectively as One Market, and the land upon which all of the
foregoing is located. 

2.     Lease Grant.  

        The Premises are hereby leased to Tenant from Landlord, together with the right to use any portions of the Project that are designated by Landlord for the common
use of tenants and others (the "Common Areas"). 

3.     Adjustment of Commencement Date; Possession.  

        3.01  If
Landlord is required to perform Landlord Work prior to the Commencement Date: (a) the date set forth in Section 1.06 as the Commencement
Date shall instead be defined as the "Target Commencement Date"; (b) the actual Commencement Date shall be the later of (i) the date on
which the Landlord Work and the Base Building Work (defined in the Work Letter) is Substantially Complete (defined below) and (ii) May 1, 2004; provided, however, that Landlord will give
Tenant written notice at least 10 Business Days before the estimated date upon which Landlord expects the Premises to be Substantially Complete, and Tenant shall in return give Landlord written notice
whether it elects to take possession of the Premises on or after the date upon which the Premises are estimated to be Substantially Complete, but before May 1, 2004, and the date Tenant so
elects shall be the actual Commencement Date; and (c) the Termination Date will be the last day of the Term as determined based upon the actual Commencement Date, and which date shall be the
expiration of the 96th full calendar month following the actual Commencement Date. Landlord's failure to Substantially Complete the Landlord Work and the Base Building Work by the Target
Commencement Date shall not be a default by Landlord or otherwise render Landlord liable for damages. Promptly after the determination of the Commencement Date, Landlord and Tenant shall enter into a
commencement letter agreement in the form attached as Exhibit D. If the Termination Date does not fall on the last day of a calendar month, Landlord and Tenant may elect to adjust the
Termination Date to the last day of the calendar month in which Termination Date occurs by the mutual execution of a commencement letter agreement setting forth such adjusted date. The Landlord Work
and the Base Building Work shall each be deemed to be "Substantially Complete" on the later of (i) the date that all of the Landlord Work and the
Base Building Work have been performed, other than any details of construction, mechanical adjustment or any other similar matter, the noncompletion of which does not materially interfere with
Tenant's use of the Premises; and (ii) the date Landlord receives from the appropriate governmental authorities, with respect to the Landlord Work and the Base Building Work performed by
Landlord or its contractors in the Premises, all approvals necessary for the occupancy of the Premises. Notwithstanding anything contained herein to the contrary, Tenant shall have three hundred
(300) days from the Substantial Completion of Landlord Work and the Base Building Work in which to discover and notify Landlord of any latent defects in the Landlord Work and/or the Base
Building Work. Landlord shall be responsible for the correction of any latent defects with respect to which it received timely notice from Tenant. If Landlord is delayed in the performance of the
Landlord Work and/or the Base Building Work as a result of the acts or omissions of Tenant, the Tenant Related Parties (defined in Section 13) or their respective contractors or vendors,
including, without limitation, changes requested by Tenant to approved plans, Tenant's failure to comply with any of its obligations under this Lease, or the specification of any materials or
equipment with long lead times (a "Tenant Delay"), the 

3

 

Landlord
Work and Base Building Work shall be deemed to be Substantially Complete on the date that Landlord could reasonably have been expected to Substantially Complete the Landlord Work and Base
Building Work absent any Tenant Delay. 

        Tenant's
acceptance of the Premises shall be subject to Landlord's obligation to correct portions of the Landlord Work and/or the Base Building Work, as the case may be, as set forth on
a construction punch list prepared by Landlord and Tenant in accordance with the terms hereof. Within 15 days after Substantial Completion of the Landlord Work and the Base Building Work,
Landlord and Tenant shall together conduct an inspection of the Premises and prepare a "punch list" setting forth any portions of the Landlord Work and/or the Base Building Work that are not in
conformity with the Landlord Work and/or the Base Building Work as required by the terms of the Work Letter. Notwithstanding the foregoing, at the request of Landlord, such construction punch list
shall be mutually prepared by Landlord and Tenant prior to the date on which Tenant first begins to move its furniture, equipment or
other personal property into the Premises. Landlord shall use good faith efforts to correct all such items within a reasonable time following the completion of the punch list. 

        Notwithstanding
the foregoing, if the Commencement Date has not occurred on or before December 31, 2004 (the "Required Completion
Date"), Tenant, as its sole remedy, may terminate this Lease by giving Landlord written notice of termination on or before the earlier to occur of: (i) 5 Business Days
after the Required Completion Date; and (ii) the Commencement Date. Landlord shall in no event knowingly and falsely represent to Tenant that the Landlord Work and/or the Base Building Work is
Substantially Complete in a bad faith effort to avoid Tenant's termination right as described in the preceding sentence. In such event, this Lease shall be deemed null and void and of no further force
and effect and Landlord shall promptly refund any prepaid rent and Security Deposit previously advanced by Tenant under this Lease and, so long as Tenant has not previously defaulted under any of its
obligations under the Work Letter, the parties hereto shall have no further responsibilities or obligations to each other with respect to this Lease. Landlord and Tenant acknowledge and agree that:
(x) the determination of the Commencement Date shall take into consideration the effect of any Tenant Delays; and (y) the Required Completion Date shall be postponed by the number of
days the Commencement Date is delayed due to events of Force Majeure; provided, however, that with respect to any postponements of the Required Completion Date made in accordance with
clause (y) above only, the Required Completion Date shall in no event be postponed beyond March 31, 2005. 

        3.02  Subject
to Landlord's obligation, if any, to perform Landlord Work and the Base Building Work and any express representation, warranty or covenant of
Landlord set forth herein or in any exhibit hereto, including without limitation the Work Letter, the Premises are accepted by Tenant in "as is" condition and configuration without any representations
or warranties by Landlord. By taking possession of the Premises, Tenant agrees that the Premises are in good order and satisfactory condition. Landlord shall not be liable for a failure to deliver
possession of the Premises or any other space due to the holdover or unlawful possession of such space by another party, however Landlord shall use reasonable efforts to obtain possession of the
space. The commencement date for the space, in such event, shall be postponed until the date Landlord delivers possession of the Premises to Tenant free from occupancy by any party. If Tenant takes
possession of the Premises before the Commencement Date, such possession shall be subject to the terms and conditions of this Lease and Tenant shall pay Rent (defined in Section 4.01) to
Landlord for each day of possession before the Commencement Date. However, except for the cost of services requested by Tenant (e.g. freight elevator usage), Tenant shall not be required to pay Rent
for any days of possession before the Commencement Date during which Tenant, with the approval of Landlord, is in possession of the Premises for the sole purpose of performing improvements or
installing furniture, equipment or other personal property. However, notwithstanding the foregoing but subject to the terms of this 3.02 Landlord grants Tenant the right to enter the Premises, at
Tenant's sole risk, (i) following installation of the ceiling grid in the Premises, solely for the purpose of installing telecommunications and data 

4

 

cabling
in the Premises, and (ii) following installation of the carpeting in the Premises, solely for the purpose of installing equipment, furnishings and other personalty. Landlord may
withdraw such permission to enter the Premises prior to the Commencement Date at any time that Landlord reasonably determines that such entry by Tenant is causing a dangerous situation for Landlord,
Tenant or their respective contractors or employees, or if Landlord reasonably determines that such entry by Tenant is hampering or otherwise preventing Landlord from proceeding with the completion of
Landlord's Work at the earliest possible date. 

4.     Rent.  

        4.01  Tenant
shall pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Term
(collectively referred to as "Rent"). "Additional Rent" means all sums (exclusive of Base Rent) that
Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base
Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on the first day of each calendar month without notice or demand, provided that the installment of Base Rent
for the second full calendar month of the Term (subject to Tenant's right to receive the Abated Base Rent as provided in Section 1.03 above in this Lease), and the first monthly installment of
Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or before 30 days after
billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord.
Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a
calendar year. In addition, past due Rent shall accrue interest at 10% per annum, provided that Tenant shall be entitled to a grace period of 5 days for the first late payment of Rent in any
12 month period during the Term. Landlord's acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month
during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant's covenant to pay Rent is independent of
every other covenant in this Lease. 

        4.02  Tenant
shall pay Tenant's Pro Rata Share of Taxes and Expenses in accordance with Exhibit B of this
Lease. 

5.     Compliance with Laws; Use.  

        The Premises shall be used for the Permitted Use and for no other use whatsoever. Tenant shall comply with all statutes, codes, ordinances, orders, rules and
regulations of any municipal or governmental entity whether in effect now or later, including the Americans with Disabilities Act ("Law(s)"), regarding
the operation of Tenant's business and the use, condition, configuration and occupancy of the Premises. In addition, Tenant shall, at its sole cost and expense, promptly comply with any Laws that
relate to the "Base Building" (defined below), but only to the extent such obligations are triggered by Tenant's use of the Premises, other than for general office use, or Alterations or improvements
in the Premises performed by, or at the request of, Tenant. "Base Building" shall include the structural portions of the Building, the public restrooms
and the Building mechanical, electrical and plumbing systems and equipment located in the internal core of the Building on the floor or floors on which the Premises are located. Tenant shall promptly
provide Landlord with copies of any notices it receives regarding an alleged violation of Law. Tenant shall comply with the rules and regulations of the Building attached as  Exhibit E and such
other reasonable rules and regulations adopted by Landlord from time to time, including rules and regulations for the
performance of Alterations (defined in Section 9). 

5

 

        Landlord,
at its sole cost and expense (except to the extent properly included in Expenses), shall be responsible for correcting any violations of Laws with respect to the Premises
violations that arise out of the Landlord Work and the Base Building Work prior to the installation of any furniture, equipment and other personal property of Tenant. Notwithstanding the foregoing,
Landlord shall have the right to contest any alleged violation in good faith, including, without limitation, the right to apply for and obtain a waiver or deferment of compliance, the right to assert
any and all defenses allowed by Law and the right to appeal any decisions, judgments or rulings to the fullest extent permitted by Law. Landlord, after the exhaustion of any and all rights to appeal
or contest, will make all repairs, additions, alterations or improvements necessary to comply with the terms of any final order or judgment. Notwithstanding the foregoing, Tenant, not Landlord, shall
be responsible for the correction of any violations that arise out of or in connection with any claims brought under any provision of the Americans with Disabilities Act other than Title III, the
specific nature of Tenant's business in the Premises (other than general office use), the acts or omissions of Tenant, its agents, employees or contractors, Tenant's arrangement of any furniture,
equipment or other property in the Premises, any repairs, alterations, additions or improvements performed by or on behalf of Tenant (other than the Landlord Work and the Base Building Work) and any
design or configuration of the Premises specifically requested by Tenant after being informed that such design or configuration may not be in strict compliance with the Americans with Disabilities
Act. 

6.     Security Deposit.  

        The Security Deposit shall be held by Landlord without liability for interest (unless required by Law) as security for the performance of Tenant's obligations.
Landlord and Tenant are currently landlord and tenant under the terms of that certain lease dated December 1, 1998 (as same may have been amended, the "Existing
Lease") for premises commonly known as Suites 1330 and 2200 in the building located at 301 Howard Street, San Francisco, California. Landlord is currently holding the sum of
$50,000.00 (the "Existing Lease Security Deposit") as a security deposit pursuant to the terms of the Existing Lease. As of the date of this Lease, the
Existing Lease Security Deposit currently held by Landlord (and not applied) is equal to $50,000.00. Provided Tenant is in compliance with the Existing Lease upon termination thereof, Landlord shall
transfer the unapplied balance of the Existing Lease Security Deposit to the Security Deposit required under this Lease. If the unapplied Existing Lease Security Deposit is less than the Security
Deposit due under this Lease, Tenant shall deposit with Landlord, upon demand, a sum sufficient to cure such deficiency so that the total Security Deposit deposited or transferred to Landlord
hereunder is not less than ($50,000.00) [i.e. being the Security Deposit required under this Lease]. The Security Deposit is not
an advance payment of Rent or a measure of damages. Landlord may use all or a portion of the Security Deposit to satisfy past due Rent or to cure any Default (defined in Section 18) by Tenant.
If Landlord uses any portion of the Security Deposit, Tenant shall, within 5 days after demand, restore the Security Deposit to its original amount. Landlord shall return any unapplied portion
of the Security Deposit to Tenant within 45 days after the later to occur of: (a) determination of the final Rent due from Tenant; or (b) the later to occur of the Termination
Date or the date Tenant surrenders the Premises to Landlord in compliance with Section 25. Notwithstanding the foregoing, if Tenant is not in default of this Lease at the termination of this
Lease, Landlord shall return any unapplied balance of the Security Deposit to Tenant within 45 days after Tenant surrenders the Premises to Landlord in accordance with this Lease. In addition
to any other deductions Landlord is entitled to make pursuant to the terms hereof, Landlord shall have the right to make a good faith estimate of any unreconciled Expenses and/or Taxes as of the
Termination Date and to deduct any anticipated shortfall from the Security Deposit. Landlord may assign the Security Deposit to a successor or transferee and, following the assignment, Landlord shall
have no further liability for the return of the Security Deposit. Landlord shall not be required to keep the Security Deposit separate from its other accounts. Tenant hereby waives the provisions of 

6

 

Section 1950.7
of the California Civil Code, or any similar or successor Laws now or hereinafter in effect. 

7.     Building Services.  

        7.01  Landlord
shall furnish Tenant with the following services: (a) water for use in the Base Building lavatories; (b) customary heat and air
conditioning in season during Building Service Hours. Tenant shall have the right to receive HVAC service during hours other than Building Service Hours by paying Landlord's then standard charge for
additional HVAC service and providing such prior notice as is reasonably specified by Landlord; (c) standard janitorial service on Business Days; (d) Elevator service;
(e) Electricity in accordance with the terms and conditions in Section 7.02; (f) security to the Building which may be provided through a security system involving any one or a
combination of cameras, monitoring devices or guards, sign-in or identification procedures or other comparable system; (g) access to the Building for Tenant and its employees
24 hours per day/7 days per week, subject to the terms of this Lease and such security or monitoring systems as Landlord may reasonably impose, including, without limitation,
sign-in procedures and/or presentation of identification cards; and (h) such other services as Landlord reasonably determines are necessary or appropriate for the Project. 

        7.02  Electricity
used by Tenant in the Premises shall be paid for by Tenant through inclusion in Expenses (except as provided for excess usage). Without the
consent of Landlord, Tenant's use of electrical service shall not exceed, either in voltage, rated capacity, use beyond Building Service Hours or overall load, that which Landlord reasonably deems to
be standard for the Building, which at the time of the execution of this Lease is a total of 5.5 watts per rentable square foot of the Premises (which total amount is comprised of 1.5 watts per
rentable square foot applicable to lighting and 4 watts per rentable square foot applicable to other power services). Landlord shall have the right to measure electrical usage by commonly accepted
methods. If it is determined that Tenant is using excess electricity, Tenant shall pay Landlord for the cost of such excess electrical usage as Additional Rent within thirty (30) days after
receipt of invoice. 

        7.03  Landlord's
failure to furnish, or any interruption, diminishment or termination of services due to the application of Laws, the failure of any equipment,
the performance of repairs, improvements or alterations, utility interruptions or the occurrence of an event of Force Majeure (defined in Section 26.03) (collectively a
"Service Failure") shall not render Landlord liable to Tenant, constitute a constructive eviction of Tenant, give rise to an abatement of Rent, nor
relieve Tenant from the obligation to fulfill any covenant or agreement. However, if the Premises, or a material portion of the Premises, are made untenantable for a period in excess of 3 consecutive
Business Days as a result of a Service Failure that is reasonably within the control of Landlord to correct, then Tenant, as its sole remedy, shall be entitled to receive an abatement of Rent payable
hereunder during the period beginning on the 4th consecutive Business Day of the Service Failure and ending on the day the service has been restored. If the entire Premises have not been
rendered untenantable by the Service Failure, the amount of abatement shall be equitably prorated. 

8.     Leasehold Improvements.  

        All improvements in and to the Premises, including any Alterations (collectively, "Leasehold Improvements") shall
remain upon the Premises at the end of the Term without compensation to Tenant. Landlord, however, by written notice to Tenant at least 45 days prior to the Termination Date, may require
Tenant, at its expense, to remove (a) any Cable (defined in Section 9.01) installed by or for the benefit of Tenant, and (b) any Landlord Work or Alterations that, in Landlord's
reasonable judgment, are of a nature that would require removal and repair costs that are materially in excess of the removal and repair costs associated with standard office improvements
(collectively referred to as "Required Removables"). Within 30 days following Landlord's receipt of final, approved Plans (as defined in  Exhibit C to this Lease) which Plans are sufficient to obtain all required permits for the 

7

 

construction
of the Landlord Work, Landlord shall inform Tenant which items of the Landlord Work, if any, shall be deemed Required Removables. If Landlord fails to so notify Tenant of the foregoing,
such failure shall not be deemed a default by Landlord and Tenant may provide to Landlord a written request inquiring which items, if any, of the Landlord Work (as reflected in the Plans) shall be
deemed Required Removables. Such written request shall conspicuously state in bold and large font the following: "IN ACCORDANCE WITH ARTICLE 8 OF THE LEASE, LANDLORD SHALL
RESPOND TO THIS NOTICE FROM TENANT WITHIN 30 DAYS FOLLOWING LANDLORD'S RECIEPT HEREOF OR THE LANDLORD WORK SHALL BE DEEMED NOT TO BE REQUIRED REMOVABLES FOR PURPOSES OF THE
LEASE." If Tenant's written request strictly complies with the terms hereof and if Landlord fails to respond to such Tenant's written request within 30 days following
Landlord's receipt thereof, the Landlord Work (as reflected in the Plans) shall be deemed not to be Required Removables. Required Removables shall include, without limitation, internal stairways,
raised floors, personal baths and showers, vaults, rolling file systems and structural alterations and modifications. Notwithstanding the foregoing, Tenant shall not be required to remove any portion
of the Base Building Work as such term is defined in the Work Letter. The designated Required Removables shall be removed by Tenant before the Termination Date. Tenant shall repair damage caused by
the installation or removal of Required Removables. If Tenant fails to perform its obligations in a timely manner, Landlord may perform such work at Tenant's expense. Tenant, at the time it requests
approval for a proposed Alteration, may request in writing that Landlord advise Tenant whether the Alteration or any portion of the Alteration is a Required Removable. Within 10 days after
receipt of Tenant's request, Landlord shall advise Tenant in writing as to which portions of the Alteration are Required Removables. 

9.     Repairs and Alterations.  

        9.01  Tenant
shall periodically inspect the Premises and promptly provide Landlord with notice of any conditions that are dangerous or in need of maintenance or
repair discovered by Tenant. Tenant shall, at its sole cost and expense, perform all maintenance and repairs to the Premises that are not Landlord's express responsibility under this Lease, and keep
the Premises in good condition and repair, reasonable wear and tear excepted. Tenant's repair and maintenance obligations include, without limitation, repairs to: (a) floor covering;
(b) interior partitions; (c) doors; (d) the interior side of demising walls; (e) electronic, phone and data cabling and related equipment that is installed by or for the
exclusive benefit of Tenant (collectively, "Cable"); (f) supplemental air conditioning units, kitchens, including hot water heaters, plumbing,
and similar facilities exclusively serving Tenant; and (g) Alterations. To the extent Landlord is not reimbursed by insurance proceeds, Tenant shall reimburse Landlord for the cost of repairing
damage to the Building caused by the acts of Tenant, Tenant Related Parties and their respective contractors and vendors. If Tenant fails to make any repairs to the Premises for more than
15 days after notice from Landlord (although notice shall not be required in an emergency), Landlord may make the repairs, and Tenant shall pay the reasonable cost of the repairs, together with
an administrative charge in an amount equal to 8% of the cost of the repairs. 

        9.02  Landlord
shall keep and maintain in good repair and working order and perform maintenance upon the: (a) structural elements of the Building;
(b) mechanical (including HVAC), electrical, plumbing and fire/life safety systems serving the Building in general; (c) Common Areas; (d) roof of the Building; (e) exterior
windows of the Building; (f) elevators serving the Building. Landlord shall promptly make repairs for which Landlord is responsible. Tenant hereby waives any and all rights under and benefits
of subsection 1 of Section 1932, and Sections 1941 and 1942 of the California Civil Code, or any similar or successor Laws now or hereinafter in effect. Subject to Section 15 of this
Lease, Tenant shall not be liable for repairs to the Building to the extent necessitated by Landlord's gross negligence or willful misconduct. 

8

 

        9.03  Tenant
shall not make alterations, repairs, additions or improvements or install any Cable (collectively referred to as
"Alterations") without first obtaining the written consent of Landlord in each instance, which consent shall not be unreasonably withheld or delayed.
However, Landlord's consent shall not be required for any Alteration that satisfies all of the following criteria (a "Cosmetic Alteration"):
(a) is of a cosmetic nature such as painting, wallpapering, hanging pictures and installing carpeting; (b) is not visible from the exterior of the Premises or Building; (c) will
not affect the Base Building; and (d) does not require work to be performed inside the walls or above the ceiling of the Premises. Cosmetic Alterations shall be subject to all the other
provisions of this Section 9.03. Prior to starting work, Tenant shall furnish Landlord with plans and specifications; names of contractors reasonably acceptable to Landlord (provided that
Landlord may designate specific contractors with respect to Base Building); required permits and approvals; evidence of contractor's and subcontractor's insurance in amounts reasonably required by
Landlord and naming Landlord as an additional insured; and any security for performance in amounts reasonably required by Landlord. Changes to the plans and specifications must also be submitted to
Landlord for its approval. Alterations shall be constructed in a good and workmanlike manner using materials of a quality reasonably approved by Landlord. Tenant shall reimburse Landlord for any sums
paid by Landlord for third party examination of Tenant's plans for non-Cosmetic Alterations. In addition, Tenant shall pay Landlord a fee for Landlord's oversight and coordination of any
non-Cosmetic Alterations equal to 5% of the cost of such non-Cosmetic Alterations. Upon completion, Tenant shall furnish "as-built" plans for
non-Cosmetic Alterations, completion affidavits and full and final waivers of lien. Landlord's approval of an Alteration shall not be deemed a representation by Landlord that the
Alteration complies with Law. 

10.   Entry by Landlord.  

        Landlord may enter the Premises to inspect, show or clean the Premises or to perform or facilitate the performance of repairs, alterations or additions to the
Premises or any portion of the Building. Except in emergencies or to provide Building services, Landlord shall provide Tenant with reasonable prior verbal notice of entry and shall use reasonable
efforts to minimize any interference with Tenant's use of the Premises. If reasonably necessary, Landlord may temporarily close all or a portion of the Premises to perform repairs, alterations and
additions. However, except in emergencies, Landlord will not close the Premises if the work can reasonably be completed on weekends and after Building Service Hours. Entry by Landlord shall not
constitute a constructive eviction or entitle Tenant to an abatement or reduction of Rent. Notwithstanding the foregoing, if Landlord temporarily closes the Premises as provided above for a period in
excess of 3 consecutive business days, Tenant, as its sole remedy, shall be entitled to receive a per diem abatement of Base Rent during the period beginning on the 4th consecutive
business day of closure and ending on the date on which the Premises are returned to Tenant in a tenantable condition. Tenant, however, shall not be entitled to an abatement if the repairs,
alterations and/or additions to be performed are required as a result of the acts or omissions of Tenant, its agents, employees or contractors, including, without limitation, a default by Tenant in
its maintenance and repair obligations under the Lease. 

11.   Assignment and Subletting.  

        11.01  Except
in connection with a Permitted Transfer (defined in Section 11.04), Tenant shall not assign, sublease, transfer or encumber any interest in
this Lease or allow any third party to use any portion of the Premises (collectively or individually, a "Transfer") without the prior written consent of
Landlord, which consent shall not be unreasonably withheld, conditioned or delayed if Landlord does not exercise its recapture rights under Section 11.02. If the entity which controls the
voting shares/rights of Tenant changes at any time, such change of ownership or control shall constitute a Transfer unless Tenant is an entity whose outstanding stock is listed on a recognized
securities exchange or if at least 80% of its voting stock is owned by another entity, the voting stock of which is so listed. Tenant hereby waives the provisions of Section 1995.310 of the
California Civil Code, or any similar or successor 

9

 

Laws,
now or hereinafter in effect, and all other remedies, including, without limitation, any right at law or equity to terminate this Lease, on its own behalf and, to the extent permitted under all
applicable Laws, on behalf of the proposed transferee. Any attempted Transfer in violation of this Section is voidable by Landlord. In no event shall any Transfer, including a Permitted Transfer,
release or relieve Tenant from any obligation under this Lease. 

        11.02  Tenant
shall provide Landlord with financial statements for the proposed transferee, a fully executed copy of the proposed assignment, sublease or other
Transfer documentation and such other information as Landlord may reasonably request. Within 15 Business Days after receipt of the required information and documentation, Landlord shall either:
(a) consent to the Transfer by execution of a consent agreement in a form reasonably designated by Landlord; (b) reasonably refuse to consent to the Transfer in writing; or (c) in
the event of an assignment of this Lease or subletting of more than 40% of the Rentable Area of the Premises for more than 50% of the remaining Term (excluding unexercised options), recapture the
portion of the Premises that Tenant is proposing to Transfer. If Landlord exercises its right to recapture, this Lease shall automatically be amended (or terminated if the entire Premises is being
assigned or sublet) to delete the applicable portion of the Premises effective on the proposed effective date of the Transfer. Tenant shall pay Landlord a review fee of $1,500.00 for Landlord's review
of any Permitted Transfer or requested Transfer. 

        11.03  Tenant
shall pay Landlord 50% of all rent and other consideration which Tenant receives as a result of a Transfer that is in excess of the Rent payable
to Landlord for the portion of the Premises and Term covered by the Transfer. Tenant shall pay Landlord for Landlord's share of the excess within 30 days after Tenant's receipt of the excess.
Tenant may deduct from the excess, on a straight-line basis, all reasonable and customary expenses directly incurred by Tenant attributable to the Transfer. If Tenant is in Default,
Landlord may require that all sublease payments be made directly to Landlord, in which case Tenant shall receive a credit against Rent in the amount of Tenant's share of payments received by Landlord. 

        11.04  Tenant
may assign this Lease to a successor to Tenant by purchase, merger, consolidation or reorganization (an "Ownership
Change") or assign this Lease or sublet all or a portion of the Premises to an Affiliate without the consent of Landlord, provided that all of the following conditions are
satisfied (a "Permitted Transfer"): (a) Tenant is not in material nonmonetary Default or Monetary Default; (b) in the event of an
Ownership Change, Tenant's successor shall own substantially all of the assets of Tenant and have a net worth which is at least equal to Tenant's net worth as of the day prior to the proposed
Ownership Change; (c) the Permitted Use does not allow the Premises to be used for retail purposes; and (d) Tenant shall give Landlord written notice at least 15 Business Days prior to
the effective date of the Permitted Transfer, provided that Landlord shall execute any commercially reasonable confidentiality agreement reasonably required by Tenant in connection therewith. Tenant's
notice to Landlord shall include information and documentation evidencing the Permitted Transfer and showing that each of the above conditions has been satisfied. If requested by Landlord, Tenant's
successor shall sign a commercially reasonable form of assumption agreement unless the agreement governing the underlying corporate transaction prompting the proposed Permitted Transfer between Tenant
and Tenant's successor is commercially reasonable and fully assigns this Lease from Tenant to Tenant's successor and Tenant's successor fully assumes all of Tenant's liabilities under this Lease, all
to Landlord's reasonable satisfaction. "Affiliate" shall mean an entity controlled by, controlling or under common control with Tenant. 

12.   Liens.  

        Tenant shall not permit mechanics' or other liens to be placed upon the Project, Premises or Tenant's leasehold interest in connection with any work or service
done or purportedly done by or for the benefit of Tenant or its transferees. Tenant shall give Landlord notice at least 15 days prior to the commencement of any work in the Premises to afford
Landlord the opportunity, where applicable, to 

10

 

post
and record notices of non-responsibility. Tenant, within the earlier of (i) 25 days of notice from Landlord and (ii) 30 days following the date the lien is
filed and becomes of record, shall fully discharge any lien by settlement, by bonding or by insuring over the lien in the manner prescribed by the applicable lien Law. If Tenant fails to do so,
Landlord may bond, insure over or otherwise discharge the lien. Tenant shall reimburse Landlord for any amount paid by Landlord to discharge a lien placed upon the Property, Premises or Tenant's
leasehold interest in connection with any work or service done or allegedly done by or for the benefit of Tenant, including, without limitation, reasonable attorneys' fees (if and to the extent
permitted by Law). 

13.   Indemnity and Waiver of Claims.  

        Tenant hereby waives all claims against and releases Landlord and its trustees, members, principals, beneficiaries, partners, officers, directors, employees,
Mortgagees (defined in Section 23) and agents
(the "Landlord Related Parties") from all claims for any injury to or death of persons, damage to property or business loss in any manner related to
(a) Force Majeure, (b) acts of third parties, (c) the bursting or leaking of any tank, water closet, drain or other pipe, (d) the inadequacy or failure of any security
services, personnel or equipment, or (e) any matter not within the reasonable control of Landlord. Except to the extent caused by the negligence or willful misconduct of Landlord or any
Landlord Related Parties or material breach of this Lease by Landlord, Tenant shall indemnify, defend and hold Landlord and Landlord Related Parties harmless against and from all liabilities,
obligations, damages, penalties, claims, actions, costs, charges and expenses, including, without limitation, reasonable attorneys' fees and other professional fees (if and to the extent permitted by
Law) (collectively referred to as "Losses"), which may be imposed upon, incurred by or asserted against Landlord or any of the Landlord Related Parties
by any third party and arising out of or in connection with any damage or injury occurring in the Premises or any acts or omissions (including violations of Law) of Tenant, the Tenant Related Parties
or any of Tenant's transferees, contractors or licensees. Except to the extent caused by the negligence or willful misconduct of Tenant or any Tenant Related Parties, Landlord shall indemnify, defend
and hold Tenant, its trustees, members, principals, beneficiaries, partners, officers, directors, employees and agents ("Tenant Related Parties")
harmless against and from all Losses which may be imposed upon, incurred by or asserted against Tenant or any of the Tenant Related Parties by any third party and arising out of or in connection with
the acts or omissions (including violations of Law) of Landlord or the Landlord Related Parties. Notwithstanding the foregoing, except as provided in Article 15 to the contrary, Tenant shall
not be required to waive any claims against Landlord (other than for loss or damage to Tenant's business) where such loss or damage is due to the negligence or willful misconduct of Landlord or any
Landlord Related Parties. Nothing herein shall be construed as to diminish the repair and maintenance obligations of Landlord contained elsewhere in this Lease. In the event that during the Term
Landlord receives insurance or other proceeds from a third party (excluding Landlord's or any Landlord Related Party's insurers) (the "Tenant Personal Property Proceeds") specifically allocated to the
repair and/or replacement costs directly respecting Tenant's Personal Property damaged at the Premises from or otherwise in connection with bursting or leaking of any tank, water closet, drain or
other pipe and Landlord has expended no or only a portion of the sums or other resources necessary to repair or otherwise replace any of such Tenant's Personal Property, Landlord shall deliver the
amount of the Tenant Personal Property Proceeds to Tenant sufficient to repair or replace such damaged Tenant's Personal Property up to the amount of the Tenant Personal Property Proceeds and after
first reimbursing Landlord for any of the costs and expenses so expended by Landlord. 

14.   Insurance.  

        Tenant shall maintain the following insurance ("Tenant's Insurance"): (a) Commercial General Liability
Insurance applicable to the Premises and its appurtenances providing, on an occurrence basis, a minimum combined single limit of $2,000,000.00; (b) Property/Business Interruption Insurance 

11

 

written
on an All Risk or Special Perils form, with coverage for broad form water damage including earthquake sprinkler leakage, at replacement cost value and with a replacement cost endorsement
covering all of Tenant's business and trade fixtures, equipment, movable partitions, furniture, merchandise and other personal property within the Premises ("Tenant's
Property") and any Leasehold Improvements performed by or for the benefit of Tenant; (c) Workers' Compensation Insurance in amounts required by Law; and
(d) Employers Liability Coverage of at least $1,000,000.00 per occurrence. Any company writing Tenant's Insurance shall have an A.M. Best rating of not less than A-VIII. All
Commercial General Liability Insurance policies shall name as additional insureds Landlord (or its successors and assignees), the managing agent for the Building (or any successor), EOP Operating
Limited Partnership, Equity Office Properties Trust and their respective members, principals, beneficiaries, partners, officers, directors, employees, and agents, and other designees of Landlord and
its successors as the interest of such designees shall appear. All policies of Tenant's Insurance shall contain endorsements that the insurer(s) shall endeavor to give Landlord and its designees at
least 30 days' advance written notice of any cancellation, termination, material change or lapse of insurance (except that with respect to any cancellation due to Tenant's failure to pay the
required premium, at least 10 days' advance written notice shall be provided); provided, however, that in any event, Tenant shall provide such 30 day or 10 day (as applicable)
advance written notice of the same to Landlord. Tenant shall provide Landlord with a certificate of insurance evidencing Tenant's Insurance prior to the earlier to occur of the Commencement Date or
the date Tenant is provided with possession of the Premises, and thereafter as necessary to assure that Landlord always has current certificates evidencing Tenant's Insurance. Landlord shall maintain
so called All Risk property insurance on the Building at replacement cost value as reasonably estimated by Landlord. 

15.   Subrogation.  

        Landlord and Tenant hereby waive and shall cause their respective insurance carriers to waive any and all rights of recovery, claims, actions or causes of action
against the other for any loss or damage with respect to Tenant's Property, Leasehold Improvements, the Building, the Premises, or any contents thereof, including rights, claims, actions and causes of
action based on negligence, which loss or damage is (or would have been, had the insurance required by this Lease been carried) covered by insurance. 

16.   Casualty Damage.  

        16.01  If
all or any portion of the Premises becomes untenantable by fire or other casualty to the Premises (collectively a
"Casualty"), Landlord, with reasonable promptness, shall cause a general contractor selected by Landlord to provide Landlord and Tenant with a written
estimate of the amount of time required using standard working methods to Substantially Complete the repair and restoration of the Premises and any Common Areas necessary to provide access to the
Premises ("Completion Estimate"). If the Completion Estimate indicates that the Premises or any Common Areas necessary to provide access to the Premises
cannot be made tenantable within 180 days from the date the repair is started, then either party shall have the right to terminate this Lease upon written notice to the other within
10 days after receipt of the Completion Estimate. Tenant, however, shall not have the right to terminate this Lease if the Casualty was caused by the negligence or intentional misconduct of
Tenant or any Tenant Related Parties. In addition, Landlord, by notice to Tenant within 90 days after the date of the Casualty, shall have the right to terminate this Lease if: (1) the
Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the Casualty; (2) any Mortgagee requires that the insurance proceeds be applied
to the payment of the mortgage debt; or (3) a material uninsured loss to the Building occurs. In addition to Landlord's right to terminate as provided herein, Tenant shall have the right to
terminate this Lease if: (a) a substantial portion of the Premises has been damaged by Casualty and such damage cannot reasonably be repaired within 60 days after receipt of the
Completion Estimate; (b) there is less than 18 months of the Term remaining on 

12

 

the
date of such Casualty; (c) the Casualty was not caused by the negligence or willful misconduct of Tenant or its agents, employees or contractors; and (d) Tenant provides Landlord
with written notice of its intent to terminate within 45 days after the date of the Casualty. 

        16.02  If
this Lease is not terminated, Landlord shall promptly and diligently, subject to reasonable delays for insurance adjustment or other matters beyond
Landlord's reasonable control, restore the Premises and Common Areas. Such restoration shall be to substantially the same condition that existed prior to the Casualty, except for modifications
required by Law or any other modifications to the Common Areas deemed desirable by Landlord. Upon notice from Landlord, Tenant shall assign to Landlord (or to any party designated by Landlord) all
property insurance proceeds payable to Tenant under Tenant's Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant (other than the Base Building Work, which
shall be covered by Landlord's insurance); provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant's insurance
carrier, the excess cost of such repairs shall be paid by Tenant to Landlord prior to Landlord's commencement of repairs. Within 15 days of demand, Tenant shall also pay Landlord for any
additional excess costs that are determined during the performance of the repairs. Landlord shall not be liable for any inconvenience to Tenant, or injury to Tenant's business resulting in any way
from the Casualty or the repair thereof. Provided that Tenant is not in Default, during any period of time that all or a material portion of the Premises is rendered untenantable as a result of a
Casualty, the Rent shall abate for the portion of the Premises that is untenantable and not used by Tenant. 

        16.03  The
provisions of this Lease, including this Section 16, constitute an express agreement between Landlord and Tenant with respect to any and all
damage to, or destruction of, all or any part of the Premises or the Project, and any Laws, including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to
any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any similar or successor Laws now or hereinafter in effect, shall have no
application to this Lease or any damage or destruction to all or any part of the Premises or the Project. 

17.   Condemnation.  

        Either party may terminate this Lease if any material part of the Premises is taken or condemned for any public or quasi-public use under Law, by eminent domain
or private purchase in lieu thereof (a "Taking"). Landlord shall also have the right to terminate this Lease if there is a Taking of any portion of the
Building or Project which would have a material adverse effect on Landlord's ability to profitably operate the remainder of the Building. The terminating party shall provide written notice of
termination to the other party within 45 days after it first receives notice of the Taking. The termination shall be effective on the date the physical taking occurs. If this Lease is not
terminated, Base Rent and Tenant's Pro Rata Share shall be appropriately adjusted to account for any reduction in the square footage of the Building or Premises. All compensation awarded for a Taking
shall be the property of Landlord. The right to receive compensation or proceeds are expressly waived by Tenant, however, Tenant may file a separate claim for Tenant's Property and Tenant's
reasonable relocation expenses, provided the filing of the claim does not diminish the amount of Landlord's award. If only a part of the Premises is subject to a Taking and this Lease is not
terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant hereby waives any
and all rights it might otherwise have pursuant to Section 1265.130 of the California Code of Civil Procedure, or any similar or successor Laws. 

13

 

18.   Events of Default.  

        Each of the following occurrences shall be a "Default": (a) Tenant's failure to pay any portion of Rent
when due, if the failure continues for 3 Business Days after written notice to Tenant ("Monetary Default"); (b) Tenant's failure (other than a
Monetary Default) to comply with any term, provision, condition or covenant of this Lease, if the failure is not cured within 10 days after written notice to Tenant provided, however, if
Tenant's failure to comply cannot reasonably be cured within 10 days, Tenant shall be allowed additional time (not to exceed 90 days) as is reasonably necessary to cure the failure so
long as Tenant begins the cure within 10 days and diligently pursues the cure to completion; (c) Tenant or any Guarantor becomes insolvent, makes a transfer in fraud of creditors, makes
an assignment for the benefit of creditors, admits in writing its inability to pay its debts when due or forfeits or loses its right to conduct business; (d) the leasehold estate is taken by
process or operation of
Law; and/or (e) in the case of any ground floor or retail Tenant, Tenant does not take possession of or abandons or vacates all or any portion of the Premises. If Landlord provides Tenant with
notice of Tenant's failure to comply with any specific provision of this Lease on 3 separate occasions during any 12 month period, Tenant's subsequent violation of such provision shall, at
Landlord's option, be an incurable Default by Tenant. All notices sent under this Section shall be in satisfaction of, and not in addition to, notice required by Law. 

19.   Remedies.  

        19.01  Upon
the occurrence of any Default under this Lease, Landlord shall have the option to pursue any one or more of the following remedies without any
notice (except as expressly prescribed herein) or demand whatsoever (and without limiting the generality of the foregoing, Tenant hereby specifically waives notice and demand for payment of Rent or
other obligations, except for those notices specifically required pursuant to the terms of Section 18 or this Section 19, and waives any and all other notices or demand requirements
imposed by applicable law): 

	(a)
	Terminate
this Lease and Tenant's right to possession of the Premises and recover from Tenant an award of damages equal to the sum of the following:

	(i)
	The
Worth at the Time of Award of the unpaid Rent which had been earned at the time of termination;

	(ii)
	The
Worth at the Time of Award of the amount by which the unpaid Rent which would have been earned after termination until the time of award exceeds the amount of such
Rent loss that Tenant affirmatively proves could have been reasonably avoided;

	(iii)
	The
Worth at the Time of Award of the amount by which the unpaid Rent for the balance of the Term after the time of award exceeds the amount of such Rent loss that
Tenant affirmatively proves could be reasonably avoided;

	(iv)
	Any
other amount necessary to compensate Landlord for all the detriment either proximately caused by Tenant's failure to perform Tenant's obligations under this Lease
or which in the ordinary course of things would be likely to result therefrom; and

	(v)
	All
such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time under applicable law. 

The
"Worth at the Time of Award" of the amounts referred to in parts (i) and (ii) above, shall be computed by allowing interest at the
lesser of a per annum rate equal to: (A) the greatest per annum rate of interest permitted from time to time under applicable law, or (B) the Prime Rate plus 5%. For purposes hereof, the
"Prime Rate" shall be the per annum interest rate publicly announced as its prime or base rate by a federally insured bank selected by Landlord in the
State of California. The "Worth at the Time of Award" of the amount 

14

 

referred
to in part (iii), above, shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus 1%; 

	(b)
	Employ
the remedy described in California Civil Code § 1951.4 (Landlord may continue this Lease in effect after Tenant's breach and abandonment and recover Rent as it
becomes due, if Tenant has the right to sublet or assign, subject only to reasonable limitations); or

	(c)
	Notwithstanding
Landlord's exercise of the remedy described in California Civil Code § 1951.4 in respect of an event or events of default, at such time thereafter as
Landlord may elect in writing, to terminate this Lease and Tenant's right to possession of the Premises and recover an award of damages as provided above in Paragraph 19.01(a). 

        19.02  The
subsequent acceptance of Rent hereunder by Landlord shall not be deemed to be a waiver of any preceding breach by Tenant of any term, covenant or
condition of this Lease, other than the failure of Tenant to pay the particular Rent so accepted, regardless of Landlord's knowledge of such preceding breach at the time of acceptance of such Rent. No
waiver by Landlord of any breach hereof shall be effective unless such waiver is in writing and signed by Landlord. 

        19.03  TENANT
HEREBY WAIVES ANY AND ALL RIGHTS CONFERRED BY SECTION 3275 OF THE CIVIL CODE OF CALIFORNIA AND BY SECTIONS 1174 (c) AND 1179 OF THE CODE OF
CIVIL PROCEDURE OF CALIFORNIA AND ANY AND ALL OTHER LAWS AND RULES OF LAW FROM TIME TO TIME IN EFFECT DURING THE LEASE TERM PROVIDING THAT TENANT SHALL HAVE ANY RIGHT TO REDEEM, REINSTATE OR RESTORE
THIS LEASE FOLLOWING ITS TERMINATION BY REASON OF TENANT'S BREACH. TENANT ALSO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, THE RIGHT TO TRIAL BY JURY IN ANY LITIGATION ARISING OUT OF OR
RELATING TO THIS LEASE. 

        19.04  No
right or remedy herein conferred upon or reserved to Landlord is intended to be exclusive of any other right or remedy, and each and every right and
remedy shall be cumulative and in addition to any other right or remedy given hereunder or now or hereafter existing by agreement, applicable law or in equity. In addition to other remedies provided
in this Lease, Landlord shall be entitled, to the extent permitted by applicable law, to injunctive relief, or to a decree compelling performance of any of the covenants, agreements, conditions or
provisions of this Lease, or to any other remedy allowed to Landlord at law or in equity. Forbearance by Landlord to enforce one or more of the remedies herein provided upon an event of default shall
not be deemed or construed to constitute a waiver of such default. 

        19.05  If
Tenant is in Default of any of its non-monetary obligations under the Lease, Landlord shall have the right to perform such obligations.
Tenant shall reimburse Landlord for the cost of such performance upon demand together with an administrative charge equal to 10% of the cost of the work performed by Landlord. 

        19.06  This
Section 19 shall be enforceable to the maximum extent such enforcement is not prohibited by applicable law, and the unenforceability of any
portion thereof shall not thereby render unenforceable any other portion. 

20.   Limitation of Liability.  

        NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED IN THIS LEASE, THE LIABILITY OF LANDLORD (AND OF ANY SUCCESSOR LANDLORD) SHALL BE LIMITED TO THE LESSER OF
(A) THE INTEREST OF LANDLORD IN THE PROPERTY, OR (B) THE EQUITY INTEREST LANDLORD WOULD HAVE IN THE PROPERTY IF THE PROPERTY WERE ENCUMBERED BY THIRD PARTY DEBT IN AN AMOUNT EQUAL TO 70%
OF THE VALUE OF THE PROPERTY. TENANT SHALL LOOK SOLELY TO 

15

 

LANDLORD'S
INTEREST IN THE PROPERTY FOR THE RECOVERY OF ANY JUDGMENT OR AWARD AGAINST LANDLORD OR ANY LANDLORD RELATED PARTY. NEITHER LANDLORD NOR ANY LANDLORD RELATED PARTY SHALL BE PERSONALLY LIABLE
FOR ANY JUDGMENT OR DEFICIENCY, AND IN NO EVENT SHALL LANDLORD OR ANY LANDLORD RELATED PARTY BE LIABLE TO TENANT FOR ANY LOST PROFIT, DAMAGE TO OR LOSS OF BUSINESS OR ANY FORM OF SPECIAL, INDIRECT OR
CONSEQUENTIAL DAMAGE. BEFORE FILING SUIT FOR AN ALLEGED DEFAULT BY LANDLORD, TENANT SHALL GIVE LANDLORD AND THE MORTGAGEE(S) WHOM TENANT HAS BEEN NOTIFIED HOLD MORTGAGES (DEFINED IN SECTION 23 BELOW),
NOTICE AND REASONABLE TIME TO CURE THE ALLEGED DEFAULT.    FOR PURPOSES HEREOF, "INTEREST OF LANDLORD IN THE PROPERTY" SHALL INCLUDE RENTS DUE FROM TENANTS, INSURANCE PROCEEDS, PROCEEDS
FROM CONDEMNATION OR EMINENT DOMAIN PROCEEDINGS (PRIOR TO THE PROPER DISTRIBUTION (I.E., ANY DISTRIBUTION NOT MADE TO CIRCUMVENT TENANT'S EFFORTS TO PROPERLY RECOVER FROM LANDLORD AMOUNTS DUE TO
TENANT AS PROVIDED IN THIS LEASE) OF SAME TO ANY PARTNER OR SHAREHOLDER OF LANDLORD OR ANY OTHER THIRD PARTY AND PROCEEDS FROM THE SALE OF THE PROPERTY; PROVIDED, HOWEVER, THAT WITH RESPECT TO
PROCEEDS FROM THE SALE OF THE PROPERTY, LANDLORD'S LIABILITY SHALL EXTEND ONLY TO CLAIMS WHICH ARISE DURING LANDLORD'S PERIOD OF OWNERSHIP (SO LONG AS ANY SUCH CLAIM IS SUBSEQUENTLY ADJUDICATED) AND
DURING THE TERM OF THIS LEASE BUT ONLY AFTER LANDLORD FIRST APPLIES ANY SUCH SALE PROCEEDS TO ANY OUTSTANDING MORTGAGES AND/OR ANY OTHER ENCUMBRANCES EXISTING UPON OR OTHERWISE AFFECTING THE PROPERTY
(INCLUDING ANY GROUND LEASE PAYMENTS) AND ANY TAX LIABILITY RESPECTING THE PROPERTY. 

21.   [INTENTIONALLY OMITTED].  

22.   Holding Over.  

        If Tenant fails to surrender all or any part of the Premises at the termination of this Lease, occupancy of the Premises after termination shall be that of a
tenancy at sufferance. Tenant's occupancy shall be
subject to all the terms and provisions of this Lease, and Tenant shall pay an amount (on a per month basis without reduction for partial months during the holdover) equal to 150% of the sum of the
Base Rent and Additional Rent due for the period immediately preceding the holdover. No holdover by Tenant or payment by Tenant after the termination of this Lease shall be construed to extend the
Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. If Landlord is unable to deliver possession of the Premises to a new tenant or to
perform improvements for a new tenant as a result of Tenant's holdover and Tenant fails to vacate the Premises within 15 days after notice from Landlord, Tenant shall be liable for all damages
that Landlord suffers from the holdover. 

23.   Subordination to Mortgages; Estoppel Certificate.  

        Tenant accepts this Lease subject and subordinate to any mortgage(s), deed(s) of trust, ground lease(s) or other lien(s) now or subsequently arising upon the
Premises, the Building or the Project, and to renewals, modifications, refinancings and extensions thereof (collectively referred to as a "Mortgage").
The party having the benefit of a Mortgage shall be referred to as a "Mortgagee". This clause shall be self-operative, but upon request from
a Mortgagee, Tenant shall execute a commercially reasonable subordination agreement in favor of the Mortgagee. As an alternative, a Mortgagee shall have the right at any time to subordinate its
Mortgage to this Lease. Upon request, Tenant, without charge, shall attorn to any successor to Landlord's interest in this Lease. Landlord and Tenant shall 

16

 

each,
within 10 days after receipt of a written request from the other, execute and deliver a commercially reasonable estoppel certificate to those parties as are reasonably requested by the
other (including a Mortgagee or prospective purchaser). Without limitation, such estoppel certificate may include a certification as to the status of this Lease, the existence of any defaults and the
amount of Rent that is due and payable. 

        Notwithstanding
the foregoing, upon written request by Tenant, Landlord will use reasonable efforts to obtain a non-disturbance, subordination and attornment agreement from
Landlord's then current Mortgagee on such Mortgagee's then current standard form of agreement. "Reasonable efforts" of Landlord shall not require Landlord to incur any cost, expense or liability to
obtain such agreement, it being agreed that Tenant shall be responsible for any fee or review costs charged by the Mortgagee up to an amount not to exceed $1,500.00 (the "SNDA
Fee Cap"); provided, however, if Tenant requests material changes to such Mortgagee's standard form of non-disturbance, subordination and attornment agreement or if
there are material negotiations related thereto and, as a result such Mortgagee's fee and/or review costs exceeds the SNDA Fee Cap, Tenant shall be liable for the entire fee or review costs charged by
the Mortgagee. Upon request of Landlord, Tenant will execute the Mortgagee's form of non-disturbance, subordination and attornment agreement and return the same to Landlord for execution
by the Mortgagee. Landlord's failure to obtain a non-disturbance, subordination and attornment agreement for Tenant shall have no effect on the rights, obligations and liabilities of
Landlord and Tenant or be considered to be a default by Landlord hereunder. 

        In
addition to the foregoing, concurrent with its execution and delivery to Landlord of this Lease, Tenant shall execute and deliver to Landlord the Agreement of Subordination,
Nondisturbance and Attornment attached hereto as Exhibit I (the "SNDA") with respect to the Ground Lease (as defined in the SNDA). Landlord shall
make commercially reasonable efforts to provide to Tenant, or cause Teachers (as defined in the SNDA) to provide to Tenant, a fully executed SNDA within 60 days following the date Tenant
delivers to Landlord the SNDA executed by Tenant. 

24.   Notice.  

        All demands, approvals, consents or notices (collectively referred to as a "notice") shall be in writing and
delivered by hand or sent by registered or certified mail with return receipt requested or sent by overnight or same day courier service at the party's respective Notice Address(es) set forth in
Section 1. Each notice shall be deemed to have been received on the earlier to occur of actual delivery or the date on which delivery is refused, or, if Tenant has vacated the Premises or any
other Notice Address of Tenant without providing a new Notice Address, 3 days after notice is deposited in the U.S. mail or with a courier service in the manner described above. Either party
may, at any time, change its Notice Address (other than to a post office box address) by giving the other party written notice of the new address. 

25.   Surrender of Premises.  

        At the termination of this Lease or Tenant's right of possession, Tenant shall remove Tenant's Property from the Premises, and quit and surrender the Premises to
Landlord, broom clean, and in good order, condition and repair, ordinary wear and tear and damage which Landlord is obligated to repair hereunder excepted. If Tenant fails to remove any of Tenant's
Property within 3 Business Days after termination of this Lease or Tenant's right to possession, Landlord, at Tenant's sole cost and expense, shall be entitled (but not obligated) to remove and store
Tenant's Property. Landlord shall not be responsible for the value, preservation or safekeeping of Tenant's Property. Tenant shall pay Landlord, upon demand, the expenses and storage charges incurred.
If Tenant fails to remove Tenant's Property from the Premises or storage, within 30 days after notice, Landlord may deem all or any part of Tenant's Property to be abandoned and title to
Tenant's Property shall vest in Landlord. 

17

 

26.   Miscellaneous.  

        26.01  This
Lease shall be interpreted and enforced in accordance with the Laws of the State of California and Landlord and Tenant hereby irrevocably consent to
the jurisdiction and proper venue of such state or commonwealth. If any term or provision of this Lease shall to any extent be void or unenforceable, the remainder of this Lease shall not be affected.
If there is more than one Tenant or if Tenant is comprised of more than one party or entity, the obligations imposed upon Tenant shall be joint and several obligations of all the parties and entities,
and requests or demands from any one person or entity comprising Tenant shall be deemed to have been made by all such persons or entities. Notices to any one person or entity shall be deemed to have
been given to all persons and entities. Tenant represents and warrants to Landlord that each individual executing this Lease on behalf of Tenant is authorized to do so on behalf of Tenant and that
Tenant is not, and the entities or individuals constituting Tenant or which may own or control Tenant or which may be owned or controlled by Tenant are not, among the individuals or entities
identified on any list compiled pursuant to Executive Order 13224 for the purpose of identifying suspected terrorists. 

        26.02  If
either party institutes a suit against the other for violation of or to enforce any covenant, term or condition of this Lease, the prevailing party
shall be entitled to all of its costs and expenses, including, without limitation, reasonable attorneys' fees. Landlord and Tenant hereby waive any right to trial by jury in any proceeding based upon
a breach of this Lease. Either party's failure to declare a default immediately upon its occurrence, or delay in taking action for a default, shall not constitute a waiver of the default, nor shall it
constitute an estoppel. 

        26.03  Subject
to Article 16, whenever a period of time is prescribed for the taking of an action by Landlord or Tenant (other than the payment of the
Security Deposit or Rent), the period of time for the performance of such action shall be extended by the number of days that the performance is actually delayed due to strikes, acts of God, shortages
of labor or materials, war, terrorist acts, civil disturbances and other causes beyond the reasonable control of the performing party ("Force Majeure"). 

        26.04  Landlord
shall have the right to transfer and assign, in whole or in part, all of its rights and obligations under this Lease and in the Building and
Project. Upon transfer Landlord shall be released from any further obligations hereunder and Tenant agrees to look solely to the successor in interest of Landlord for the performance of such
obligations, provided that, any successor pursuant to a voluntary, third party transfer (but not as part of an involuntary transfer resulting from a foreclosure or deed in lieu thereof) shall have
assumed Landlord's obligations under this Lease, and further provided that Landlord and its successors, as the case may be, shall remain liable after their respective periods of ownership with respect
to any sums due in connection with a breach or default by such party that arose during such period of ownership by such party. 

        26.05  Landlord
has delivered a copy of this Lease to Tenant for Tenant's review only and the delivery of it does not constitute an offer to Tenant or an
option. Tenant represents that it has dealt directly with and only with the Broker as a broker in connection with this Lease. Tenant shall indemnify and hold Landlord and the Landlord Related Parties
harmless from all claims of any other brokers claiming to have represented Tenant in connection with this Lease. Landlord shall indemnify and hold Tenant and the Tenant Related Parties harmless from
all claims of any brokers claiming to have represented Landlord in connection with this Lease. Equity Office Properties Management Corp. ("EOPMC") is an
affiliate of Landlord and represents only the Landlord in this transaction. Any assistance rendered by any agent or employee of EOPMC in connection with this Lease or any subsequent amendment or
modification hereto has been or will be made as an accommodation to Tenant solely in furtherance of consummating the transaction on behalf of Landlord, and not as agent for Tenant. Landlord agrees to
pay a brokerage commission to Broker in accordance with the terms of a separate written commission agreement to be entered into between Landlord and Broker, provided 

18

 

that
in no event shall Landlord be obligated to pay a commission to Broker in connection with any extension of the Term or in connection with any additional space that is leased by Tenant pursuant to
the terms of this Lease except as may be specifically provided otherwise in such written agreement or future written agreement between Landlord and Broker. 

        26.06  Time
is of the essence with respect to Tenant's exercise of any expansion, renewal or extension rights granted to Tenant. The expiration of the Term,
whether by lapse of time, termination or otherwise, shall not relieve either party of any obligations which accrued prior to or which may continue to accrue after the expiration or termination of this
Lease. 

        26.07  Tenant
may peacefully have, hold and enjoy the Premises, subject to the terms of this Lease, provided Tenant pays the Rent and fully performs all of its
covenants and agreements. This covenant shall be binding upon Landlord and its successors only during its or their respective periods of ownership of the Building. 

        26.08  This
Lease does not grant any rights to light or air over or about the Building. Landlord excepts and reserves exclusively to itself any and all rights
not specifically granted to Tenant under this Lease. This Lease constitutes the entire agreement between the parties and supersedes all prior agreements and understandings related to the Premises,
including all lease proposals, letters of intent and other documents. Neither party is relying upon any warranty, statement or representation not contained in this Lease. This Lease may be modified
only by a written agreement signed by an authorized representative of Landlord and Tenant. 

[SIGNATURES ARE ON FOLLOWING PAGE]

19

 

        Landlord
and Tenant have executed this Lease as of the day and year first above written. 

	 	 	LANDLORD:
	

 	
 	
CA-ONE MARKET LIMITED PARTNERSHIP, a Delaware limited partnership
	

 	
 	

By:	

EOM GP, L.L.C., a Delaware limited liability company, its general partner
	

 	
 	

 	

By:	

Equity Office Management, L.L.C., a Delaware limited liability company, its non-member manager
	

 	
 	

 	

 	

By:	

 
	 	 	 	 	 	

	

 	
 	

 	

 	

Name:	

Mark Geisreiter
	

 	
 	

 	

 	

Title:	

Regional Senior Vice President
	

 	
 	
TENANT:
	

 	
 	
AUTONOMY, INC., a New Jersey corporation
	

 	
 	

By:	

 	

 	

 
	 	 	 	

	 	 	Name:	 	 	 
	 	 	 	

	 	 	Title:	 	 	 
	 	 	 	

	

 	
 	

By:	

 	

 	

 
	 	 	 	

	 	 	Name:	 	 	 
	 	 	 	

	 	 	Title:	 	 	 
	 	 	 	

20

  

 
 

EXHIBIT A-1    
    
    OUTLINE AND LOCATION OF PREMISES    
    

        This Exhibit is attached to and made a part of the Lease by and between CA-ONE MARKET LIMITED PARTNERSHIP, a Delaware limited
partnership ("Landlord") and  AUTONOMY, INC., a New Jersey corporation ("Tenant") for space in the Spear Tower in the Building
located at One Market, San Francisco, California. 

  

1

  

 
 

EXHIBIT A-2
  
    LEGAL DESCRIPTION OF PROJECT    
    

THE LAND REFERRED TO HEREIN IS SITUATED IN THE STATE OF CALIFORNIA, COUNTY OF SAN FRANCISCO, CITY OF SAN FRANCISCO, AND IS DESCRIBED AS FOLLOWS:

PARCEL ONE:  

        BEGINNING at the point of intersection of the Northwesterly line of Mission Street with the Southwesterly line of Steuart Street; thence North
44° 51' 51" West along said Southwesterly line, 334.33 feet to a point in a line parallel with and distant 334.33 feet Northwesterly, measured at right angles, from said
Northwesterly line of Mission Street; thence South 45° 08' 09" West along said parallel line 32 feet and 41/2 inches; thence North
44° 51' 51" West 6 feet and 11/2 inches; thence South 45° 08' 09" West 16 feet and 4 inches; thence North
44° 51' 51" West 112 feet and 51/8 inches; thence South 45° 08' 09" West 177 feet and 71/2 inches; thence South
44° 51' 51" East 112 feet and 51/8 inches; thence South 45° 08' 09" West 16 feet and 31/2 inches; thence South
44° 51' 51" East 6 feet and 11/2 inches to a point in said parallel line; thence South 45° 08' 09" West along said parallel line 32
feet and 41/2 inches to a point in the Northeasterly line of Spear Street; thence South 44° 51' 51" East along said Northeasterly line 334.33 feet to a point
in said Northwesterly line of Mission Street; thence North 45° 08' 09" East along said Northwesterly line 275 feet to the point of beginning. 

        Assessor's
Lot 7, Block 3713. 

1

 

PARCEL TWO:  

        Leasehold Estate as created by that certain lease Agreement (herein called "Ground Lease") dated April 16, 1973, made by and between Southern Pacific Land
Company, a California corporation, as Lessor and One Market Plaza, a joint venture composed of the Equitable Life Assurance Society of the United States, a New York corporation, and Southern Pacific
Land Company, a California corporation, as Lessee, upon the terms and conditions contained therein, a short form of which was recorded April 24, 1973 in Book B755, Page 597, Series
No. V71530, Official Records; as amended by First Amendment to Lease dated as of September 29, 1995 and recorded October 3, 1995 in Book G479, Page 280, Series
No. 95-F866002, Official Records. 

        The
Lessee's interest thereunder was assigned of record to ZML-One Market Limited Partnership, a Delaware limited partnership, by instrument recorded November 22, 1994 in Book
G263, Page 204, Series No. 94-F716286-00, Official Records. 

        Which
Ground Lease demises and leases for a term commencing on April 16, 1973 and expiring on April 15, 2072 the following described land: 

        BEGINNING
at the point of intersection of the Northwesterly line of Mission Street with the Southwesterly line of Steuart Street; thence North 44° 51' 51" West
along said Southwesterly line 334.33 feet to a point in a line parallel with and distant 334.33 feet Northwesterly, measured at right angles, from said Northwesterly line of Mission Street; thence
South 45° 08' 09" West along said parallel line 32 feet and 41/2 inches; thence North 44° 51' 51" West 6 feet and 11/2
inches; thence South 45° 08' 09" West 16 feet and 4 inches; thence North 44° 51' 51" West 112 feet and 51/8 inches; thence South
45° 08' 09" West 177 feet and 71/2 inches; thence South 44° 51' 51" East 112 feet and 51/8 inches; thence South
45° 08' 09" West 16 feet and 31/2 inches; thence South 44° 51' 51" East 6 feet and 11/2 inches to a point in said
parallel line; thence South 45° 08' 09" West along said parallel line 32 feet and 41/2 inches to a point in the Northeasterly line of Spear Street; thence
South 44° 51' 51" East along said Northeasterly line, 334.33 feet to a point in said Northwesterly line of Mission Street; thence North 45° 08' 09"
East along said Northwesterly line 275 feet to the point of beginning. 

        Assessor's
Lot 7, Block 3713. 

PARCEL THREE:  

        Leasehold Estate as created by that certain Lease Agreement (herein called "Lobby Lease") dated April 16, 1973, made by and between Southern Pacific
Transportation Company, a Delaware corporation, as Lessor, and One Market Plaza, a joint venture composed of the Equitable Life Assurance Society of the United States, a New York corporation, and
Southern Pacific Land Company, a California corporation, as Lessee, upon the terms and conditions contained therein, a short form of which recorded April 24, 1973 in Book B755, Page 592,
Series No. V71529, Official Records; as affected by First Amendment to Lobby Lease dated as of January 12, 1992. 

        The
Lessee's interest thereunder was assigned of record to ZML-One Market Limited Partnership, a Delaware limited partnership, by instrument recorded November 22, 1994,
Book G263, Page 205, Series No. 94-F716287-00, Official Records. 

        Which
Lobby Lease demises and leases for a term commencing on July 15, 1976 and expiring on July 14, 2025, with five (5) ten year renewal options, certain portion of the
ground floor of the South Pacific Building, situated on the following described land: 

        BEGINNING
at a point on the Southwesterly line of Steuart Street that is distant North 44° 51' 51" West 334.33 feet from the Northwesterly line of Mission
Street; thence South 45° 08' 09" West being parallel with and distant 334.33 feet Northwesterly, measured at right angles, from said Northwesterly line of Mission Street 32
feet and 41/2 inches; thence North 44° 51' 51" West 6 feet and 

2

 

11/2
inches; thence South 45° 08' 09" West 16 feet and 4 inches; thence North 44° 51' 51" West 112 feet and 51/8
inches; thence South 45° 08' 09" West 177 feet 71/2 inches; thence South 44° 51' 51" East 112 feet and 51/8 inches;
thence South 45° 08' 09" West 16 feet and 31/2 inches; thence South 44° 51' 51" East 6 feet and 11/2 inches to a point
in said line that is parallel with and distant 334.33 feet Northwesterly, measured at right angles from said Northwesterly line of Mission Street; thence South 45° 08' 09"
West along said parallel line 32 feet and 41/2 inches to the point on the Northeasterly line of Spear Street; thence North 44° 51' 51" West along said
Northeasterly line 216 feet to a point on the Southeasterly line of Market Street; thence North 45° 08' 09" East along said Southeasterly line, 275 feet to a point in said
Southwesterly line of Steuart Street; thence South 44° 51' 51" East along last said line 216 feet to the point of beginning. 

        EXCEPTING
THEREFROM as recaptured by Lessor that certain portion of the demised premises, defined and described as the Cocorico Space in the aforesaid First Amendment to Lobby Lease. 

        TOGETHER
WITH an easement to maintain and supplement as necessary the then currently existing wiring, piping, conduit, meters, detectors, electrical connections or equipment that serves
and/or runs through the Cocorico Space; and easements for access into the Cocorico Space and other portions of the Southern Pacific Building and for the right to enter the Cocorico Space and other
portions of the Southern Pacific Building; as defined and described in the aforesaid First Amendment To Lobby Lease. 

        Assessor's
Lot 6, Block 3713. 

3

  

 
 

EXHIBIT B    
    
    EXPENSES AND TAXES    
    

        This Exhibit is attached to and made a part of the Lease by and between CA-ONE MARKET LIMITED PARTNERSHIP, a Delaware limited
partnership("Landlord") and AUTONOMY, INC., a New Jersey corporation ("Tenant") for space in the Spear Tower in the
Building located at One Market, San Francisco, California. 

1.     Payments. 

        1.01 Tenant
shall pay Tenant's Pro Rata Share of the amount, if any, by which Expenses (defined below) for each calendar year during the Term exceed Expenses for the Base
Year (the "Expense Excess") and also the amount, if any, by which Taxes (defined below) for each calendar year during the Term exceed Taxes for the Base
Year (the "Tax Excess"). If Expenses or Taxes in any calendar year decrease below the amount of Expenses or Taxes for the Base Year, Tenant's Pro Rata
Share of Expenses or Taxes, as the case may be, for that calendar year shall be $0. Landlord shall provide Tenant with a good faith estimate of the Expense Excess and of the Tax Excess for each
calendar year during the Term. On or before the first day of each month, Tenant shall pay to Landlord a monthly installment equal to one-twelfth of Tenant's Pro Rata Share of Landlord's
estimate of both the Expense Excess and Tax Excess. After its receipt of the revised estimate, Tenant's monthly payments shall be based upon the revised estimate. If Landlord does not provide Tenant
with an estimate of the Expense Excess or the Tax Excess by January 1 of a calendar year, Tenant shall continue to pay monthly installments based on the previous year's estimate(s) until
Landlord provides Tenant with the new estimate. 

        1.02 As
soon as is practical following the end of each calendar year, Landlord shall furnish Tenant with a statement of the actual Expenses and Expense Excess and the actual
Taxes and Tax Excess for the prior calendar year. If the estimated Expense Excess or estimated Tax Excess for the prior calendar year is more than the actual Expense Excess or actual Tax Excess, as
the case may be, for the prior calendar year, Landlord shall either provide Tenant with a refund or apply any overpayment by Tenant against Additional Rent due or next becoming due, provided if the
Term expires before the determination of the overpayment, Landlord shall refund any overpayment to Tenant after first deducting the amount of Rent due. If the estimated Expense Excess or estimated Tax
Excess for the prior calendar year is less than the actual Expense Excess or actual Tax Excess, as the case may be, for such prior year, Tenant shall pay Landlord, within 30 days after its
receipt of the statement of Expenses or Taxes, any underpayment for the prior calendar year. 

2.     Expenses. 

        2.01 "Expenses" means all costs and expenses incurred in each calendar year in connection with operating, maintaining,
repairing, and managing the Building and the Project, subject to the terms and conditions of Section 2.02 of this Exhibit B below.
Expenses shall be determined by Landlord using sound and generally practiced real estate accounting principles consistently applied and shall include, without limitation: (a) all labor and
labor related costs for personnel at or below the level of general manager; (b) management fees; (c) the cost of equipping, staffing and operating an on-site and/or
off-site management office for the Building, provided if the management office services one or more other buildings or properties, the shared costs and expenses of equipping, staffing and
operating such management office(s) shall be equitably prorated and apportioned between the Building and the other buildings or properties; (d) accounting costs; (e) the cost of
services; (f) rental and purchase cost of parts, supplies, tools and equipment; (g) insurance premiums and deductibles; (h) electricity, gas and other utility costs; and
(i) the amortized cost of capital improvements (as distinguished from replacement parts or components installed in the ordinary course of business) made subsequent to the 

1

 

Base
Year which are: (1) performed primarily to reduce current or future operating expense costs, upgrade Building security or otherwise improve the operating efficiency of the Project; or
(2) required to comply with any Laws that are enacted, or first interpreted to apply to the Project, after the date of this Lease. The cost of capital improvements shall be amortized by
Landlord over the lesser of the Payback Period (defined below) or the useful life of the capital improvement as reasonably determined by Landlord. "Payback
Period" means the reasonably estimated period of time that it takes for the cost savings resulting from a capital improvement to equal the total cost of the capital
improvement. Landlord, by itself or through an affiliate, shall have the right to directly perform, provide and be compensated for any services under this Lease (including management services),
provided that the cost of any such services shall not exceed the cost that would have been incurred had Landlord entered into an arms-length contract for such services with an unaffiliated
entity of comparable skill and experience. If Landlord incurs Expenses for the Building or Project together with one or more other buildings or properties, whether pursuant to a reciprocal easement
agreement, common area agreement or otherwise, the shared costs and expenses shall be equitably prorated and apportioned between the Building and Project and the other buildings or properties. In no
event shall Landlord be entitled to a reimbursement from tenants for Expenses and Taxes in excess of 100% of the costs actually paid or incurred by Landlord in any applicable calendar year. 

        2.02 Expenses
shall not include: the cost of capital improvements (except as set forth above); depreciation; principal payments of mortgage and other
non-operating debts of Landlord; the cost of repairs or other work to the extent Landlord is reimbursed by insurance or condemnation proceeds; costs in connection with leasing space in the
Building, including brokerage commissions; lease concessions, rental abatements and construction allowances granted to specific tenants; costs incurred in connection with the sale, financing or
refinancing of the Building; fines, interest and penalties incurred due to the late payment of Taxes or Expenses; organizational expenses associated with the creation and operation of the entity which
constitutes Landlord; or any penalties or damages that Landlord pays to Tenant under this Lease or to other tenants in the Building under their respective leases. 

        The
following items are also excluded from Expenses: 

	(a)
	Sums
(other than management fees, it being agreed that the management fees included in Expenses are as described in Section 2.01 above) paid to subsidiaries or other affiliates
of Landlord for services on or to the Property, Building and/or Premises, but only to the extent that the costs of such services exceed the competitive cost for such services rendered by persons or
entities of similar skill, competence and experience.

	(b)
	Any
fines, penalties or interest resulting from the negligence or willful misconduct of the Landlord or its agents, contractors, or employees.

	(c)
	Advertising
and promotional expenditures.

	(d)
	Landlord's
charitable and political contributions.

	(e)
	Ground
lease rental.

	(f)
	Attorney's
fees and other expenses incurred in connection with negotiations or disputes with prospective tenants or tenants or other occupants of the Building.

	(g)
	The
cost or expense of any services or benefits provided generally to other tenants in the Building and not provided or available to Tenant.

	(h)
	All
costs of purchasing or leasing major sculptures, paintings or other major works or objects of art (as opposed to decorations purchased or leased by Landlord for display in the
Common Areas of the Building). 

2

 

	(i)
	Any
expenses for which Landlord has received actual reimbursement (other than through Expenses).

	(j)
	Costs
incurred by Landlord (i) for the repair of damage caused to the Building or Property solely resulting from Landlord's gross negligence or willful misconduct, and
(ii) in connection with the correction of defects in design and original construction of the Building or Property.

	(k)
	Expenses
for the replacement of any item covered under warranty, unless Landlord has not received payment under such warranty and it would not be fiscally prudent to pursue legal
action to collect on such warranty.

	(l)
	Fines
or penalties incurred as a result of violation by Landlord of any applicable Laws.

	(m)
	The
cost of complying with any Laws in effect (and interpreted and enforced) on the date of this Lease, provided that if any portion of the Building that was in compliance with all
applicable Laws on the date of this Lease becomes out of compliance due to normal wear and tear, the cost of bringing such portion of the Building into compliance shall be included in Expenses unless
otherwise excluded pursuant to the terms hereof.

	(n)
	Any
cost or expense related to removal, cleaning, abatement or remediation of "hazardous materials" in or about the Building, Common Area or Project, including, without limitation,
hazardous substances in the ground water or soil, except to the extent such removal, cleaning, abatement or remediation is incidental to the general repair and maintenance of the Building, Common Area
or Project. 

        2.03 If
at any time during a calendar year the Building is not at least 100% occupied or Landlord is not supplying services to at least 100% of the total Rentable Square
Footage of the Project, Expenses shall, at Landlord's option, be determined as if the Building had been 100% occupied and Landlord had been supplying services to 100% of the Rentable Square Footage of
the Project. If Expenses for a calendar year are determined as provided in the prior sentence, Expenses for the Base Year shall also be determined in such manner. The extrapolation of Expenses under
this Section shall be performed in accordance with the methodology specified by the Building Owners and Managers Association. 

        3.     "Taxes" shall mean: (a) all real property taxes and other assessments on the Building and/or Project, including,
but not limited to, gross receipts taxes, assessments for special improvement districts and building improvement districts, governmental charges, fees and assessments for police, fire, traffic
mitigation or other governmental service of purported benefit to the Project, taxes and assessments levied in substitution or supplementation in whole or in part of any such taxes and assessments and
the Project's share of any real estate taxes and assessments under any reciprocal easement agreement, common area agreement or similar agreement as to the Project; (b) all personal property
taxes for property that is owned by Landlord and used in connection with the operation, maintenance and repair of the Project; and (c) all costs and fees incurred in connection with seeking
reductions in any tax liabilities described in (a) and (b), including, without limitation, any costs incurred by Landlord for compliance, review and appeal of tax liabilities. Without
limitation, Taxes shall not include any income, capital levy, transfer, capital stock, gift, estate or inheritance tax. If a change in Taxes is obtained for any year of the Term during which Tenant
paid Tenant's Pro Rata Share of any Tax Excess, then Taxes for that year will be retroactively adjusted and Landlord shall provide Tenant with a credit, if any, based on the adjustment. Likewise, if a
change is obtained for Taxes for the Base Year, Taxes for the Base Year shall be restated and the Tax Excess for all subsequent years shall be recomputed. Tenant shall pay Landlord the amount of
Tenant's Pro Rata Share of any such increase in the Tax Excess within 30 days after Tenant's receipt of a statement from Landlord. 

        4.     Audit Rights. Tenant, within 365 days after receiving Landlord's statement of Expenses, may give Landlord written
notice ("Review Notice") that Tenant intends to review Landlord's records of the Expenses for the calendar year to which the statement applies. Within a
reasonable time after receipt 

3

 

of
the Review Notice, Landlord shall make all pertinent records available for inspection that are reasonably necessary for Tenant to conduct its review. If any records are maintained at a location
other than the management office for the Building, Tenant may either inspect the records at such other location or pay for the reasonable cost of copying and shipping the records. If Tenant retains an
agent to review Landlord's records, the agent must be with a CPA firm licensed to do business in the state or commonwealth where the Project is located. Tenant shall be solely responsible for all
costs, expenses and fees incurred for the audit. Within 90 days after the records are made available to Tenant, Tenant shall have the right to give Landlord written notice (an
"Objection Notice") stating in reasonable detail any objection to Landlord's statement of Expenses for that year. If Tenant fails to give Landlord an
Objection Notice within the 90 day period or fails to provide Landlord with a Review Notice within the 365 day period described above, Tenant shall be deemed to have approved Landlord's
statement of Expenses and shall be barred from raising any claims regarding the Expenses for that year. The records obtained by Tenant shall be treated as confidential. In no event shall Tenant be
permitted to examine Landlord's records or to dispute any statement of Expenses unless Tenant has paid and continues to pay all Rent when due. If the audit determines that in the aggregate Expenses
for the Building for the year in question were less than stated by more than 5%, Landlord, within 30 days after its receipt of paid invoices therefor from Tenant, shall reimburse Tenant for the
reasonable amounts paid by Tenant to the third party CPA described above in connection with such audit by Tenant and the amount of such overpayment. Likewise, if the audit determines that Expenses for
the calendar year are greater than reported, Tenant shall pay Landlord the amount of any underpayment within 30 days. 

4

  

 
 

EXHIBIT C    
    
    WORK LETTER    
    

        This work letter (this "Work Letter") is attached to and made a part of the Lease by and between  CA-ONE MARKET
LIMITED PARTNERSHIP, a Delaware limited partnership ("Landlord") and AUTONOMY, INC., a New
Jersey corporation ("Tenant") for space in the Spear Tower in the Building located at One Market, San Francisco, California. 

        As
used in this Work Letter, the "Premises" shall be deemed to mean the Premises, as initially defined in the attached Lease. 

	1.
	This
Work Letter shall set forth the obligations of Landlord and Tenant with respect to the improvements to be performed in the Premises for Tenant's use. All improvements described in
this Work Letter, excluding the Base Building Work (defined herein below), to be constructed in and upon the Premises by Landlord are hereinafter referred to as the "Landlord
Work." It is agreed that construction of the Landlord Work will be completed at Tenant's sole cost and expense, subject to the Allowance (as defined below). Landlord shall
enter into a direct contract for the Landlord Work with a general contractor selected by Landlord. Landlord hereby selects BCCI as the general contractor for the Landlord Work. Landlord or Landlord's
contractor shall competitively bid out the work for the major subtrades (as reasonably determined by Landlord) for the Landlord Work to no less than three (3) local subcontractors in such major
subtrades. Landlord shall have the right to select and/or approve of any subcontractors used in connection with the Landlord Work. Landlord shall make commercially reasonable efforts to achieve
competitive pricing for the Landlord Work proposed by Tenant.

	2.
	Tenant
shall be solely responsible for the timely preparation and submission to Landlord of the final architectural, electrical and mechanical construction drawings, plans and
specifications (called "Plans") necessary to construct the Landlord Work, which plans shall be subject to approval by Landlord and Landlord's architect
and engineers and shall comply with their requirements to avoid aesthetic or other conflicts with the design and function of the balance of the Building. Tenant shall be responsible for all elements
of the design of Tenant's plans (including, without limitation, compliance with law, functionality of design, the structural integrity of the design, the configuration of the Premises and the
placement of Tenant's furniture, appliances and equipment), and Landlord's approval of Tenant's plans shall in no event relieve Tenant of the responsibility for such design. If requested by Tenant,
Landlord's architect will prepare the Plans necessary for such construction at Tenant's cost. Whether or not the layout and Plans are prepared with the help (in whole or in part) of Landlord's
architect, Tenant agrees to remain solely responsible for the timely preparation and submission of the Plans and for all elements of the design of such Plans and for all costs related thereto. Tenant
has assured itself by direct communication with the architect and engineers (Landlord's or its own, as the case may be) that the final approved Plans can be delivered to Landlord on or before
February 6, 2004 (the "Plans Due Date"), provided that Tenant promptly furnishes complete information concerning its requirements to said
architect and engineers as and when requested by them. Tenant covenants and agrees to cause said final, approved Plans to be delivered to Landlord on or before said Plans Due Date and to devote such
time as may be necessary in consultation with said architect and engineers to enable them to complete and submit the Plans within the required time limit. Time is of the essence in respect of
preparation and submission of Plans by Tenant. If the Plans are not fully completed and approved by the Plans Due Date, Tenant shall be responsible for one day of Tenant Delay (as defined in the Lease
to which this Exhibit is attached) for each day during the period beginning on the day following the Plans Due Date and ending on the date completed Plans are approved.

	3.
	If
Landlord's estimate and/or the actual cost of construction shall exceed the Allowance, Landlord, prior to commencing any construction of Landlord Work, shall submit to Tenant a
written estimate 

5

 

setting
forth the anticipated cost of the Landlord Work, including but not limited to labor and materials, contractor's fees and permit fees. Within 3 Business Days thereafter, Tenant shall either
notify Landlord in writing of its approval of the cost estimate, or specify its objections thereto and any desired changes to the proposed Landlord Work. If Tenant notifies Landlord of such objections
and desired changes, Tenant shall work with Landlord to reach a mutually acceptable alternative cost estimate (the "Excess Cost Estimate"). 

	4.
	If
the Excess Cost Estimate exceeds the Allowance, if any (such amounts exceeding the Allowance being herein referred to as the "Excess
Costs"), Tenant shall promptly deliver to Steppe, Stone & Lakey LLP ("Landlord's Counsel") in trust and by wire transfer
of immediately available funds to the account designated on the attached Schedule I to this  Exhibit C an amount equal to 100% of the Excess Costs,
 plus any applicable state sales or use tax thereon. Landlord's Counsel shall hold such
funds in escrow, and shall deliver the same to Landlord in accordance with the terms of this Section 4. In the event that Tenant fails to so deliver 100% of such Excess Costs (plus any
applicable taxes) to Landlord's Counsel in accordance with the terms hereof, Landlord may, at its election, cease design and/or construction of the Landlord Work and/or the Base Building Work and any
such cessation shall be deemed a Tenant Delay. The amounts payable by Tenant hereunder constitute Rent payable pursuant to the Lease, and the failure to timely pay same in accordance herewith
constitutes an event of default under the Lease. 

Following
execution of the Lease by each of Landlord and Tenant, Landlord shall deliver to Landlord's Counsel a copy of the Lease fully executed by each of Landlord and Tenant. So long as Landlord's
Counsel has received a copy of the fully executed Lease and the funds for the Excess Costs, upon Landlord's Counsel's receipt of a written notice from Landlord (signed by a purported authorized
representative of Landlord) expressly (i) representing that Landlord has applied the entire Allowance toward the cost of the Landlord Work, and (ii) requesting delivery to Landlord of
all of the funds for the Excess Costs (the "Excess Costs Notice"), Landlord's Counsel shall deliver all of the funds for the Excess Costs received by
Landlord's Counsel to Landlord pursuant to wiring instructions Landlord shall provide to Landlord's Counsel by a separate writing and upon such delivery, Landlord's Counsel shall have no liability
whatsoever for the funds for the Excess Costs and Landlord and Tenant shall then each be deemed to have released Landlord's Counsel from any liability for and waived any claims against Landlord's
Counsel, whether known or unknown, with respect to, the funds for the Excess Costs. Landlord's Counsel shall have no obligation to pay or otherwise deliver to any party interest on the funds for the
Excess Costs. In the event a dispute arises with respect to the funds for the Excess Costs and Landlord is unable to deliver in good faith an Excess Costs Notice to Landlord's Counsel, Landlord's
Counsel shall continue to hold in escrow the funds for the Excess Costs unless and until it receives either (x) an original written instruction executed by authorized representatives of each of
Landlord and Tenant clearly instructing Landlord's Counsel how, when and to whom to deliver the funds for the Excess Costs, or (y) a court order or other valid legal notice from a governmental
or other entity with proper jurisdiction requiring delivery of the funds for the Excess Costs (clauses (x) and (y) shall each be deemed a "Subsequent
Instruction"), and in either event, Landlord's Counsel shall deliver the funds for the Excess Costs in accordance with the Subsequent Instruction first received by Landlord's
Counsel. If the costs and expenses of the Landlord Work is less than the sum of the Allowance plus the funds for the Excess Costs, Landlord shall apply any overpayment by Tenant against Rent due or
next becoming due under the Lease. If the funds for the Excess Costs are less than the actual costs and expenses of the Landlord Work, Tenant shall pay such underpayment amount to Landlord within
30 days following Landlord's demand therefore, which demand shall be accompanied by documented evidence of such underpayment. Landlord hereby represents that it shall only provide to Landlord's
Counsel an Excess Cost Notice following the application of all of the Allowance to the costs and expenses of the Landlord Work. 

6

 
	5.
	If
Tenant shall request any change, addition or alteration in any of the Plans after approval by Landlord, Landlord shall have such revisions to the drawings prepared, and Tenant shall
reimburse Landlord for the cost thereof, plus any applicable state sales or use tax thereon, upon demand. Promptly upon completion of the revisions, Landlord shall notify Tenant in writing of the
increased cost which will be chargeable to Tenant by reason of such change, addition or deletion. Tenant, within 2 Business Days, shall notify Landlord in writing whether it desires to proceed with
such change, addition or deletion. In the absence of such written authorization within such 2 Business Day period, Landlord shall have the option to continue work on the Premises disregarding the
requested change, addition or alteration, or Landlord may elect to discontinue work on the Premises until it receives notice of Tenant's decision, in which event Tenant shall be responsible for any
Tenant Delay in completion of the Premises resulting therefrom. If such revisions result in a higher estimate of the cost of construction and/or higher actual construction costs which exceed the
Allowance, such increased estimate or costs shall be deemed Excess Costs pursuant to Paragraph 4 hereof and Tenant shall deliver in trust to Landlord's Counsel the funds for such additional
Excess Costs, plus any applicable state sales or use tax thereon, in accordance with Section 4 above.

	6.
	Following
approval of the Plans, Landlord shall cause the Landlord Work to be constructed substantially in accordance with the approved Plans. Landlord shall notify Tenant of
Substantial Completion of the Landlord Work.

	7.
	Landlord,
provided Tenant is not in default, agrees to provide Tenant with an allowance (the "Allowance") in an amount not to exceed
$819,135.00 (i.e., $45.00 per rentable square foot of the Premises) to be applied toward the cost of the Landlord Work in the Premises. Architectural design fees, consultant or permit fees may also be
deducted from the Allowance, provided that the maximum deduction for such fees is limited to $2.50 per rentable square foot of the Premises. If the Allowance shall not be sufficient to complete the
Landlord Work, Tenant shall pay the Excess Costs, plus any applicable state sales or use tax thereon, as prescribed in Paragraph 4 above. Any portion of the Allowance which exceeds the cost of
the Landlord Work or is otherwise remaining after December 1, 2004, shall accrue to the sole benefit of Landlord, it being agreed that Tenant shall not be entitled to any credit, offset,
abatement or payment with respect thereto. Landlord shall be entitled to deduct from the Allowance a construction management fee for Landlord's oversight of the Landlord Work in an amount equal to 3%
of the total cost of the Landlord Work.

	8.
	Landlord
and Tenant agree to cooperate with each other in order to enable the Landlord Work and the Base Building Work to be performed in a timely manner and with as little
inconvenience to the operation of Tenant's business as is reasonably possible. Notwithstanding anything herein to the contrary, any delay in the completion of the Landlord Work or inconvenience
suffered by Tenant during the performance of the Landlord Work and/or the Base Building Work shall not subject Landlord to any liability for any loss or damage resulting therefrom or entitle Tenant to
any credit, abatement or adjustment of Rent or other sums payable under the Lease.

	9.
	Landlord,
at Landlord's sole cost and expense, shall perform additional improvements to the certain base building portions of the Premises in accordance with the following base
building worklist (the "Base Building Worklist") using Building standard methods, materials and finishes. The improvements to be performed in accordance
with the Base Building Worklist are hereinafter referred to as the "Base Building Work." Landlord shall enter into a direct contract for the Base
Building Work with a general contractor selected by Landlord. In addition, Landlord shall have the right to select and/or approve of any subcontractors used in connection with the Base Building Work. 

7

 
 
 

BASE BUILDING WORKLIST    
    

	1.
	Restroom
facilities shall be delivered fully completed with building standard finishes and in full compliance with state and local codes and federal ADA regulations.

	2.
	A
fully operational and code compliant life safety system control panel dedicated to and installed on the 19th floor, tied to the building main life safety system control
panel, complete with all devices required (including fire/smoke damper controls, elevator recall smoke detection, and visual and audio devices the elevator lobby and restrooms), and with sufficient
capacity to accommodate the installation of all required life safety devices for the Landlord Work.

	3.
	Installation
of any code-required upgrades to the base building HVAC system primary ducting, including without limitation the installation of fire/smoke dampers, not to
exceed 4 dampers, in all existing building core wall penetrations related to the HVAC system.

	4.
	Installation
of new or upgrading of existing electrical panels and subpanels in the 19th floor base building electrical closet to meet code requirements. 

Notwithstanding
anything herein to the contrary, any delay in the completion of the Base Building Work or inconvenience suffered by Tenant during the performance of the Base Building Work shall not
subject Landlord to any liability for any loss or damage resulting therefrom or entitle Tenant to any credit, abatement or adjustment of Rent or other sums payable under the Lease. Prior to the date
of this Lease, Landlord removed all cabling located in the Premises to the extent such removal was necessary for the construction of the Landlord Work. 

	10.
	This
Work Letter shall not be deemed applicable to any additional space added to the Premises at any time or from time to time, whether by any options under the Lease or otherwise, or
to any portion of the original Premises or any additions to the Premises in the event of a renewal or extension of the original Term of the Lease, whether by any options under the Lease or otherwise,
unless expressly so provided in the Lease or any amendment or supplement to the Lease. 

8

  

 
 

SCHEDULE I TO EXHIBIT C
  WIRE INSTRUCTIONS    
    

Wiring Instructions for Steppe, Stone & Lakey LLP  

	Name of Bank	 	Wells Fargo Bank, N.A.
	Branch	 	Foster City

999 E. Hillsdale Blvd.

Foster City, CA 94404
	Contact	 	Linda Wang
	Phone #	 	(650) 345-1012
	ABA #	 	121000248
	Beneficiary	 	Steppe, Stone & Lakey Client Trust Account
	Beneficiary Account #	 	320-3724459
	Regarding:	 	EOP/Autonomy

9

  

 
 

EXHIBIT D    
    
    COMMENCEMENT LETTER
  (EXAMPLE)    

	Date	 	 	 
	 	
	 	 
	Tenant	 	 	 
	 	
	 	 
	Address	 	 	 
	 	
	 	 
	 	
	 	 
	 	
	 	 

	

Re:	

Commencement Letter with respect to that certain Lease dated as of the            day
of                        ,            , by and between CA-ONE MARKET LIMITED PARTNERSHIP, a Delaware limited partnership, as Landlord, and AUTONOMY, INC., a New Jersey corporation as Tenant, for 18,203 rentable square feet on the 19th floor of the Spear Tower in the Building located at One Market, San Francisco, California.
	

Dear	

 	

:	
 	

 
	 	
	 	 	 

        In
accordance with the terms and conditions of the above referenced Lease, Tenant accepts possession of the Premises and agrees: 

	1.
	The
Commencement Date of the Lease is                        ;

	2.
	The
Termination Date of the Lease is                        . 

        Please
acknowledge your acceptance of possession and agreement to the terms set forth above by signing all 3 counterparts of this Commencement Letter in the space provided and returning
2 fully executed counterparts to my attention. 

	Sincerely,	 	 
	

 Authorized Signatory	
 	

 
	

Agreed and Accepted:	
 	

 

	

Tenant:	

AUTONOMY, INC., a New Jersey corporation
	

By:	

 	
 	

 
	 	
	 	 
	Name:	 	 	 
	 	
	 	 
	Title:	 	 	 
	 	
	 	 
	Date:	 	 	 
	 	
	 	 

1

  

 
 

EXHIBIT E    
    
    BUILDING RULES AND REGULATIONS    
    

        The following rules and regulations shall apply, where applicable, to the Premises, the Building, the parking facilities (if any), the Project and the
appurtenances. In the event of a conflict between the following rules and regulations and the remainder of the terms of the Lease, the remainder of the terms of the Lease shall control. Capitalized
terms have the same meaning as defined in the Lease. 

	1.
	Sidewalks,
doorways, vestibules, halls, stairways and other similar areas shall not be obstructed by Tenant or used by Tenant for any purpose other than ingress and egress to and from
the Premises. No rubbish, litter, trash, or material shall be placed, emptied, or thrown in those areas. At no time shall Tenant permit Tenant's employees to loiter in Common Areas or elsewhere about
the Building or Project.

	2.
	Plumbing
fixtures and appliances shall be used only for the purposes for which designed and no sweepings, rubbish, rags or other unsuitable material shall be thrown or placed in the
fixtures or appliances. Damage resulting to fixtures or appliances by Tenant, its agents, employees or invitees shall be paid for by Tenant and Landlord shall not be responsible for the damage.

	3.
	No
signs, advertisements or notices shall be painted or affixed to windows, doors or other parts of the Building, except those of such color, size, style and in such places as are
first approved in writing by Landlord. All tenant identification and suite numbers at the entrance to the Premises shall be installed by Landlord, at Tenant's cost and expense, using the standard
graphics for the Building. Except in connection with the hanging of lightweight pictures, white boards and cork boards and wall decorations, no nails, hooks or screws shall be inserted into any part
of the Premises or Building except by the Building maintenance personnel without Landlord's prior approval, which approval shall not be unreasonably withheld.

	4.
	Landlord
may provide and maintain in the first floor (main lobby) of the Building an alphabetical directory board or other directory device listing tenants and no other directory shall
be permitted unless previously consented to by Landlord in writing.

	5.
	Tenant
shall not place any lock(s) on any door in the Premises or Building without Landlord's prior written consent, which consent shall not be unreasonably withheld, and Landlord
shall have the right at all times to retain and use keys or other access codes or devices to all locks within and into the Premises. A reasonable number of keys to the locks on the entry doors in the
Premises shall be furnished by Landlord to Tenant at Tenant's cost and Tenant shall not make any duplicate keys. All keys shall be returned to Landlord at the expiration or early termination of the
Lease.

	6.
	All
contractors, contractor's representatives and installation technicians performing work in the Building shall be subject to Landlord's prior approval, which approval shall not be
unreasonably withheld, and shall be required to comply with Landlord's standard rules, regulations, policies and procedures, which may be revised from time to time.

	7.
	Movement
in or out of the Building of furniture or office equipment, or dispatch or receipt by Tenant of merchandise or materials requiring the use of elevators, stairways, lobby areas
or loading dock areas, shall be restricted to hours reasonably designated by Landlord. Tenant shall obtain Landlord's prior approval by providing a detailed listing of the activity, which approval
shall not be unreasonably withheld. If approved by Landlord, the activity shall be under the supervision of Landlord and performed in the manner required by Landlord. Tenant shall assume all risk for
damage to articles moved and injury to any persons resulting from the activity. If equipment, property, or personnel of Landlord or of any other party is damaged or injured as a result of or in
connection with the activity, Tenant shall be solely liable for any resulting damage, loss or injury. 

1

 
	8.
	Landlord
shall have the right to approve the weight, size, or location of heavy equipment or articles in and about the Premises, which approval shall not be unreasonably withheld.
Damage to the Building by the installation, maintenance, operation, existence or removal of Tenant's Property shall be repaired at Tenant's sole expense.

	9.
	Corridor
doors, when not in use, shall be kept closed.

	10.
	Tenant
shall not: (1) make or permit any improper, objectionable or unpleasant noises or odors in the Building, or otherwise interfere in any way with other tenants or persons
having business with them; (2) solicit business or distribute or cause to be distributed, in any portion of the Building, handbills, promotional materials or other advertising; or
(3) conduct or permit other activities in the Building that might, in Landlord's sole opinion, constitute a nuisance.

	11.
	No
animals, except for fish contained in a decorative fish tank and those animals assisting handicapped persons, shall be brought into the Building or kept in or about the Premises.
Any such decorative fish tank shall in no event exceed any load limit for the Building. Tenant shall be solely liable and shall indemnify Landlord for any damages or loss whatsoever caused by the
installation, presence of and/or removal of any such decorative fish tank.

	12.
	No
inflammable, explosive or dangerous fluids or substances shall be used or kept by Tenant in the Premises, Building or about the Project, except for those substances as are
typically found in similar premises used for general office purposes and are being used by Tenant in a safe manner and in accordance with all applicable Laws. Tenant shall not, without Landlord's
prior written consent, use, store, install, spill, remove, release or dispose of, within or about the Premises or any other portion of the Project, any asbestos-containing materials or any solid,
liquid or gaseous material now or subsequently considered toxic or hazardous under the provisions of 42 U.S.C. Section 9601 et seq. or any other applicable environmental Law which may now or
later be in effect. Tenant shall comply with all Laws pertaining to and governing the use of these materials by Tenant and shall remain solely liable for the costs of abatement and removal.

	13.
	Tenant
shall not use or occupy the Premises in any manner or for any purpose which might injure the reputation or impair the present or future value of the Premises or the Building.
Tenant shall not use, or permit any part of the Premises to be used for lodging, sleeping or for any illegal purpose.

	14.
	Tenant
shall not take any action which would violate Landlord's labor contracts or which would cause a work stoppage, picketing, labor disruption or dispute or interfere with
Landlord's or any other tenant's or occupant's business or with the rights and privileges of any person lawfully in the Building ("Labor Disruption").
Tenant shall take the actions necessary to resolve the Labor Disruption, and shall have pickets removed and, at the request of Landlord, immediately terminate any work in the Premises that gave rise
to the Labor Disruption, until Landlord gives its written consent for the work to resume. Tenant shall have no claim for damages against Landlord or any of the Landlord Related Parties nor shall the
Commencement Date of the Term be extended as a result of the above actions.

	15.
	Tenant
shall not install, operate or maintain in the Premises or in any other area of the Building, electrical equipment that would overload the electrical system beyond its capacity
for proper, efficient and safe operation as determined solely by Landlord. Tenant shall not furnish cooling or heating to the Premises, including, without limitation, the use of electric or gas
heating devices, without Landlord's prior written consent. Tenant shall not use more than its proportionate share of telephone lines and other telecommunication facilities available to service the
Building.

	16.
	Tenant
shall not operate or permit to be operated a coin or token operated vending machine or similar device (including, without limitation, telephones, lockers, toilets, scales,
amusement devices 

2

 

and
machines for sale of beverages, foods, candy, cigarettes and other goods), except for machines for the exclusive use of Tenant's employees and invitees. 

	17.
	Bicycles
and other vehicles are not permitted inside the Building or on the walkways outside the Building, except in areas designated by Landlord.

	18.
	Landlord
may from time to time adopt systems and procedures for the security and safety of the Building and the Project, its occupants, entry, use and contents. Tenant, its agents,
employees, contractors, guests and invitees shall comply with Landlord's systems and procedures.

	19.
	Landlord
shall have the right to prohibit the use of the name of the Building or any other publicity by Tenant that in Landlord's sole opinion may impair the reputation of the
Building or its desirability. Upon written notice from Landlord, Tenant shall refrain from and discontinue such publicity immediately.

	20.
	Neither
Tenant nor its agents, employees, contractors, guests or invitees shall smoke or permit smoking in the Common Areas, unless a portion of the Common Areas have been declared a
designated smoking area by Landlord, nor shall the above parties allow smoke from the Premises to emanate into the Common Areas or any other part of the Building. Landlord shall have the right to
designate the Building (including the Premises) as a non-smoking building.

	21.
	Landlord
shall have the right to designate and approve standard window coverings for the Premises and to establish rules to assure that the Building presents a uniform exterior
appearance. Tenant shall ensure, to the extent reasonably practicable, that window coverings are closed on windows in the Premises while they are exposed to the direct rays of the sun.

	22.
	Deliveries
to and from the Premises shall be made only at the times in the areas and through the entrances and exits reasonably designated by Landlord. Tenant shall not make
deliveries to or from the Premises in a manner that might interfere with the use by any other tenant of its premises or of the Common Areas, any pedestrian use, or any use which is inconsistent with
good business practice.

	23.
	The
work of cleaning personnel shall not be hindered by Tenant after 5:30 p.m., and cleaning work may be done at any time when the offices are vacant. Windows, doors and
fixtures may be cleaned at any time. Tenant shall provide adequate waste and rubbish receptacles to prevent unreasonable hardship to the cleaning service. 

3

  

 
 

EXHIBIT F    
    
    ADDITIONAL PROVISIONS    
    

        This Exhibit is attached to and made a part of the Lease by and between CA-ONE MARKET LIMITED PARTNERSHIP, a Delaware limited
partnership ("Landlord") and AUTONOMY, INC., a New Jersey corporation ("Tenant") for space in the Spear Tower in the
Building located at One Market, San Francisco, California. 

	1.
	Asbestos Notification.    Tenant acknowledges that Tenant has received the asbestos notification letter attached to this Lease
as Exhibit H hereto, disclosing the existence of asbestos in the Building. As part of Tenant's obligations under this Lease, Tenant agrees to
comply with the California "Connelly Act" and other applicable Laws, including providing copies of Landlord's asbestos notification letter to all of Tenant's "employees" and "owners", as those terms
are defined in the Connelly Act and other applicable Laws.

	2.
	Renewal Option.

	A.
	Grant of Option; Conditions.    Tenant shall have the right to extend the Term (the "Renewal
Option") for one additional period of 5 years commencing on the day following the Termination Date of the initial Term and ending on the 5th anniversary of the
Termination Date (the "Renewal Term"), if:

	1.
	Landlord
receives notice of exercise ("Initial Renewal Notice") not less than 9 full calendar months prior to the expiration of the
initial Term and not more than 12 full calendar months prior to the expiration of the initial Term; and

	2.
	Tenant
is not in default under the Lease beyond any applicable cure periods at the time that Tenant delivers its Initial Renewal Notice or at the time Tenant delivers its Binding
Notice (as defined below); and

	3.
	No
more than 40% of the Premises is sublet at the time that Tenant delivers its Initial Renewal Notice or at the time Tenant delivers its Binding Notice; and

	4.
	The
Lease has not been assigned prior to the date that Tenant delivers its Initial Renewal Notice or prior to the date Tenant delivers its Binding Notice.

	B.
	Terms Applicable to Premises During Renewal Term.

	1.
	The
initial Base Rent rate per rentable square foot for the Premises during the Renewal Term shall equal the Prevailing Market (hereinafter defined) rate per rentable square foot for
the Premises. Base Rent during the Renewal Term shall increase, if at all, in accordance with the increases assumed in the determination of Prevailing Market rate. Base Rent attributable to the
Premises shall be payable in monthly installments in accordance with the terms and conditions of Section 4 of the Lease.

	2.
	Tenant
shall pay Additional Rent (i.e. Taxes and Expenses) for the Premises during the Renewal Term in accordance with Section 4 of the Lease, and the manner and method in which
Tenant reimburses Landlord for Tenant's share of Taxes and Expenses and the Base Year, if any, applicable to such matter, shall be some of the factors considered in determining the Prevailing Market
rate for the Renewal Term.

	C.
	Initial Procedure for Determining Prevailing Market.    Within 30 days after receipt of Tenant's Initial Renewal
Notice, Landlord shall advise Tenant of the applicable Base Rent rate for the Premises for the Renewal Term. Tenant, within 15 days after the date on which Landlord advises Tenant of the
applicable Base Rent rate for the Renewal Term, shall either (i) give Landlord final binding written notice ("Binding Notice") of Tenant's
exercise of its Renewal 

1

 

Option,
or (ii) if Tenant disagrees with Landlord's determination, provide Landlord with written notice of rejection (the "Rejection Notice"). If
Tenant fails to provide Landlord with either a Binding Notice or Rejection Notice within such 15 day period, Tenant's Renewal Option shall be null and void and of no further force and effect.
If Tenant provides Landlord with a Binding Notice, Landlord and Tenant shall enter into the Renewal Amendment (as defined below) upon the terms and conditions set forth herein. If Tenant provides
Landlord with a Rejection Notice, Landlord and Tenant shall work together in good faith to agree upon the Prevailing Market rate for the Premises during the Renewal Term. Upon agreement, Landlord and
Tenant shall enter into the Renewal Amendment in accordance with the terms and conditions hereof. Notwithstanding the foregoing, if Landlord and Tenant fail to agree upon the Prevailing Market rate
within 30 days after the date Tenant provides Landlord with the Rejection Notice, Tenant, by written notice to Landlord (the "Arbitration
Notice") within 5 days after the expiration of such 30 day period, shall have the right to have the Prevailing Market rate determined in accordance with the
arbitration procedures described in Section D below. If Landlord and Tenant fail to agree upon the Prevailing Market rate within the 30 day period described and Tenant fails to timely
exercise its right to arbitrate, Tenant's Renewal Option shall be deemed to be null and void and of no further force and effect. 

	D.
	Arbitration Procedure.

	1.
	If
Tenant provides Landlord with an Arbitration Notice, Landlord and Tenant, within 5 days after the date of the Arbitration Notice, shall each simultaneously submit to the
other, in a sealed envelope, its good faith estimate of the Prevailing Market rate for the Premises during the Renewal Term (collectively referred to as the
"Estimates"). If the higher of such Estimates is not more than 105% of the lower of such Estimates, then Prevailing Market rate shall be the average of
the two Estimates. If the Prevailing Market rate is not resolved by the exchange of Estimates, then, within 7 days after the exchange of Estimates, Landlord and Tenant shall each select an
appraiser to determine which of the two Estimates most closely reflects the Prevailing Market rate for the Premises during the Renewal Term. Each appraiser so selected shall be certified as an MAI
appraiser or as an ASA appraiser and shall have had at least 5 years experience within the previous 10 years as a real estate appraiser working in the Financial District of San
Francisco, California, with working knowledge of current rental rates and practices. For purposes hereof, an "MAI" appraiser means an individual who holds an MAI designation conferred by, and is an
independent member of, the American Institute of Real Estate Appraisers (or its successor organization, or in the event there is no successor organization, the organization and designation most
similar), and an "ASA" appraiser means an individual who holds the Senior Member designation conferred by, and is an independent member of, the American Society of Appraisers (or its successor
organization, or, in the event there is no successor organization, the organization and designation most similar).

	2.
	Upon
selection, Landlord's and Tenant's appraisers shall work together in good faith to agree upon which of the two Estimates most closely reflects the Prevailing Market rate for the
Premises. The Estimate chosen by such appraisers shall be binding on both Landlord and Tenant as the Base Rent rate for the Premises during the Renewal Term. If either Landlord or Tenant fails to
appoint an appraiser within the 7 day period referred to above, the appraiser appointed by the other party shall be the sole appraiser for the purposes hereof. If the two appraisers cannot
agree upon which of the two Estimates most closely reflects the Prevailing Market within 20 days after their appointment, then, within 10 days after the expiration of such 20 day
period, the two appraisers shall select a third appraiser meeting the aforementioned criteria. Once the third appraiser (i.e. 

2

 

arbitrator)
has been selected as provided for above, then, as soon thereafter as practicable but in any case within 14 days, the arbitrator shall make his determination of which of the two
Estimates most closely reflects the Prevailing Market rate and such Estimate shall be binding on both Landlord and Tenant as the Base Rent rate for the Premises. If the arbitrator believes that expert
advice would materially assist him, he may retain one or more qualified persons to provide such expert advice. The parties shall share equally in the costs of the arbitrator and of any experts
retained by the arbitrator. Any fees of any appraiser, counsel or experts engaged directly by Landlord or Tenant, however, shall be borne by the party retaining such appraiser, counsel or expert. 

	3.
	If
the Prevailing Market rate has not been determined by the commencement date of the Renewal Term, Tenant shall pay Base Rent upon the terms and conditions in effect during the last
month of the initial Term for the Premises until such time as the Prevailing Market rate has been determined. Upon such determination, the Base Rent for the Premises shall be retroactively adjusted to
the commencement of the Renewal Term for the Premises. If such adjustment results in an underpayment of Base Rent by Tenant, Tenant shall pay Landlord the amount of such underpayment within
30 days after the determination thereof. If such adjustment results in an overpayment of Base Rent by Tenant, Landlord shall credit such overpayment against the next installment of Base Rent
due under the Lease and, to the extent necessary, any subsequent installments, until the entire amount of such overpayment has been credited against Base Rent.

	E.
	Renewal Amendment.    If Tenant is entitled to and properly exercises its Renewal Option, Landlord shall prepare an amendment
(the "Renewal Amendment") to reflect changes in the Base Rent, Term, Termination Date, Base Year (which shall be adjusted to be the calendar year in
which the Renewal Term commences) and other appropriate terms. The Renewal Amendment shall be sent to Tenant within a reasonable time after Landlord's receipt of the Binding Notice or other written
agreement by Landlord and Tenant regarding the Prevailing Market rate, and Tenant shall execute and return the Renewal Amendment to Landlord within 15 days after Tenant's receipt of same, but,
upon final determination of the Prevailing Market rate applicable during the Renewal Term as described herein, an otherwise valid exercise of the Renewal Option shall be fully effective whether or not
the Renewal Amendment is executed.

	F.
	Definition of Prevailing Market.    For purposes of this Renewal Option, "Prevailing
Market" shall mean the arms length fair market annual rental rate per rentable square foot under renewal leases and amendments entered into on or about the date on which the
Prevailing Market is being determined hereunder for space comparable to the Premises in the Building. The determination of Prevailing Market shall take into account any material economic differences
between the terms of this Lease and any comparison lease or amendment, such as rent abatements, construction costs and other concessions and the manner, if any, in which the landlord under any such
lease is reimbursed for operating expenses and taxes. The determination of Prevailing Market shall also take into consideration any reasonably anticipated changes in the Prevailing Market rate from
the time such Prevailing Market rate is being determined and the time such Prevailing Market rate will become effective under this Lease.

	3.
	Roof Space For Dish/Antenna.

	A.
	Tenant
shall have the right, in consideration for payments of $250.00 per month (the "Dish/Antenna Payments"), to lease space on the
roof of the Building for the purpose of installing (in accordance with Section 9.03 of the Lease), operating and maintaining a dish/antenna or other communication device not to exceed 18 inches
in diameter and otherwise approved by 

3

 

the
Landlord (the "Dish/Antenna"). Landlord's approval of the type of Dish/Antenna shall not be unreasonably withheld. The Dish/Antenna Payments shall
constitute Additional Rent under the terms of the Lease and Tenant shall be required to make these payments in strict compliance with the terms of Article 4 of the Lease. The exact location of
the space on the roof to be leased by Tenant shall be designated by Landlord and shall not exceed 9 square feet (the "Roof Space"). Landlord reserves
the right to relocate the Roof Space as reasonably necessary during the Term. Landlord's designation shall take into account Tenant's use of the Dish/Antenna. Notwithstanding the foregoing, Tenant's
right to install the Dish/Antenna shall be subject to the approval rights of Landlord and Landlord's architect and/or engineer with respect to the plans and specifications of the Dish/Antenna, the
manner in which the Dish/Antenna is attached to the roof of the Building and the manner in which any cables are run to and from the Dish/Antenna. The precise specifications and a general description
of the Dish/Antenna along with all documents Landlord reasonably requires to review the installation of the Dish/Antenna (the "Plans and
Specifications") shall be submitted to Landlord for Landlord's written approval no later than 20 days before Tenant commences to install the Dish/Antenna. Tenant shall
be solely responsible for obtaining all necessary governmental and regulatory approvals and for the cost of installing, operating, maintaining and removing the Dish/Antenna. Tenant shall notify
Landlord upon completion of the installation of the Dish/Antenna. If Landlord determines that the Dish/Antenna equipment does not comply with the approved Plans and Specifications, that the Building
has been damaged during installation of the Dish/Antenna or that the installation was defective, Landlord shall notify Tenant of any noncompliance or detected problems and Tenant promptly shall cure
the defects. If the Tenant fails to promptly cure the defects, Tenant shall pay to Landlord upon demand the cost, as reasonably determined by Landlord, of correcting any defects and repairing any
damage to the Building caused by such installation. If Landlord's reasonable determination of the cost of correcting any defects and repairing any damage to the Building caused by such installation is
in excess of the actual costs there of, Landlord shall either provide Tenant with a refund or apply any overpayment by Tenant against Rent due or next becoming due. If at any time Landlord, in its
sole discretion, deems it necessary, Tenant shall provide and install, at Tenant's sole cost and expense, appropriate aesthetic screening, reasonably satisfactory to Landlord, for the Dish/Antenna
(the "Aesthetic Screening"). 

	B.
	Landlord
agrees that Tenant, upon reasonable prior written notice to Landlord, shall have access to the roof of the Building and the Roof Space for the purpose of installing,
maintaining, repairing and removing the Dish/Antenna, the appurtenances and the Aesthetic Screening, if any, all of which shall be performed by Tenant or Tenant's authorized representative or
contractors, which shall be approved by Landlord, at Tenant's sole cost and risk. It is agreed, however, that only authorized engineers, employees or properly authorized contractors of Tenant, FCC
(defined below) inspectors, or persons under their direct supervision will be permitted to have access to the roof of the Building and the Roof Space. Tenant further agrees to exercise firm control
over the people requiring access to the roof of the Building and the Roof Space in order to keep to a minimum the number of people having access to the roof of the Building and the Roof Space and the
frequency of their visits.

	C.
	It
is further understood and agreed that the installation, maintenance, operation and removal of the Dish/Antenna, the appurtenances and the Aesthetic Screening, if any, is not
permitted to damage the Building or the roof thereof, or interfere with the use of the Building and roof by Landlord. Tenant agrees to be responsible for any damage caused to the roof or any other
part of the Building, which may be caused by Tenant or any of its agents or representatives.

	D.
	Tenant
agrees to install only equipment of types and frequencies which will not cause unreasonable interference to Landlord or existing tenants of the Building. In the event 

4

 

Tenant's
equipment causes such interference, Tenant will change the frequency on which it transmits and/or receives and take any other steps necessary to eliminate the interference. If said
interference cannot be eliminated within a reasonable period of time, in the judgment of Landlord, then Tenant agrees to remove the Dish/Antenna from the Roof Space. 

	E.
	Tenant
shall, at its sole cost and expense, and at its sole risk, install, operate and maintain the Dish/Antenna in a good and workmanlike manner, and in compliance with all Building,
electric, communication, and safety codes, ordinances, standards, regulations and requirements, now in effect or hereafter promulgated, of the Federal Government, including, without limitation, the
Federal Communications Commission (the "FCC"), the Federal Aviation Administration ("FAA") or any
successor agency of either the FCC or FAA having jurisdiction over radio or telecommunications, and of the state, city and county in which the Building is located. Under this Lease, the Landlord and
its agents assume no responsibility for the licensing, operation and/or maintenance of Tenant's equipment. Tenant has the responsibility of carrying out the terms of its FCC license in all respects.
The Dish/Antenna shall be connected to Landlord's power supply in strict compliance with all applicable Building, electrical, fire and safety codes. Neither Landlord nor its agents shall be liable to
Tenant for any stoppages or shortages of electrical power furnished to the Dish/Antenna or the Roof Space because of any act, omission or requirement of the public utility serving the Building, or the
act or omission of any other tenant, invitee or licensee or their respective agents, employees or contractors, or for any other cause beyond the reasonable control of Landlord, and Tenant shall not be
entitled to any rental abatement for any such stoppage or shortage of electrical power. Neither Landlord nor its agents shall have any responsibility or liability for the conduct or safety of any of
Tenant's representatives, repair, maintenance and engineering personnel while in or on any part of the Building or the Roof Space.

	F.
	The
Dish/Antenna, the appurtenances and the Aesthetic Screening, if any, shall remain the personal property of Tenant, and shall be removed by Tenant at its own expense at the
expiration or earlier termination of this Lease or Tenant's right to possession hereunder. Tenant shall repair any damage caused by such removal, including the patching of any holes to match, as
closely as possible, the color surrounding the area where the equipment and appurtenances were attached. Tenant agrees to maintain all of the Tenant's equipment placed on or about the roof or in any
other part of the Building in proper operating condition and maintain same in satisfactory condition as to appearance and safety in Landlord's sole discretion. Such maintenance and operation shall be
performed in a manner to avoid any interference with any other tenants or Landlord. Tenant agrees that at all times during the Term, it will keep the roof of the Building and the Roof Space free of
all trash or waste materials produced by Tenant or Tenant's agents, employees or contractors.

	G.
	In
light of the specialized nature of the Dish/Antenna, Tenant shall be permitted to utilize the services of its choice for installation, operation, removal and repair of the
Dish/Antenna, the appurtenances and the Aesthetic Screening, if any, subject to the reasonable approval of Landlord. Notwithstanding the foregoing, Tenant must provide Landlord with prior written
notice of any such installation, removal or repair and coordinate such work with Landlord in order to avoid voiding or otherwise adversely affecting any warranties granted to Landlord with respect to
the roof. If necessary, Tenant, at its sole cost and expense, shall retain any contractor having a then existing warranty in effect on the roof to perform such work (to the extent that it involves the
roof), or, at Tenant's option, to perform such work in conjunction with Tenant's contractor. In the event the Landlord contemplates roof repairs that could affect Tenant's Dish/Antenna, or which may
result in an interruption of the Tenant's telecommunication service, Landlord shall formally notify Tenant at least 30 days in advance 

5

 

(except
in cases of an emergency) prior to the commencement of such contemplated work in order to allow Tenant to make other arrangements for such service. 

	H.
	Tenant
shall not allow any provider of telecommunication, video, data or related services ("Communication Services") to locate any
equipment on the roof of the Building or in the Roof Space for any purpose whatsoever, nor may Tenant use the Roof Space and/or Dish/Antenna to provide Communication Services to an unaffiliated
tenant, occupant or licensee of another building, or to facilitate the provision of Communication Services on behalf of another Communication Services provider to an unaffiliated tenant, occupant or
licensee of the Building or any other building.

	I.
	Tenant
acknowledges that Landlord may at some time establish a standard license agreement (the "License Agreement") with respect to the
use of roof space by tenants of the Building. Tenant, upon request of Landlord, shall enter into such License Agreement with Landlord provided that such agreement does not materially alter the rights
of Tenant hereunder with respect to the Roof Space.

	J.
	Tenant
specifically acknowledges and agrees that the terms and conditions of Article 13 of the Lease (Indemnity and Waiver of Claims) shall apply with full force and effect to
the Roof Space and any other portions of the roof accessed or utilized by Tenant, its representatives, agents, employees or contractors.

	K.
	If
Tenant defaults under any of the terms and conditions of this Section or the Lease, and Tenant fails to cure said default within the time allowed by Article 18 of the Lease,
Landlord shall be permitted to exercise all remedies provided under the terms of the Lease, including removing the Dish/Antenna, the appurtenances and the Aesthetic Screening, if any, and restoring
the Building and the Roof Space to the condition that existed prior to the installation of the Dish/Antenna, the appurtenances and the Aesthetic Screening, if any. If Landlord removes the
Dish/Antenna, the appurtenances and the Aesthetic Screening, if any, as a result of an uncured default, Tenant shall be liable for all costs and expenses Landlord incurs in removing the Dish/Antenna,
the appurtenances and the Aesthetic Screening, if any, and repairing any damage to the Building, the roof of the Building and the Roof Space caused by the installation, operation or maintenance of the
Dish/Antenna, the appurtenances, and the Aesthetic Screening, if any. Further, if Landlord so removes the Dish/Antenna, Landlord shall return the Dish/Antenna to Tenant absent any other party's
reasonable claim of title to the same. 

6

  

 
 

EXHIBIT G    
    
    PARKING AGREEMENT    
    

        This Exhibit (the "Parking Agreement") is attached to and made a part of the Lease by and between CA-ONE MARKET LIMITED
PARTNERSHIP, a Delaware limited partnership ("Landlord") and AUTONOMY, INC., a New Jersey corporation ("Tenant") for
space in the Spear Tower in the Building located at One Market, San Francisco, California. 

	1.
	During
the Term, and subject to the terms hereof, so long as the same are available as reasonably determined by Landlord, by providing a written request to Landlord therefore, Tenant
may lease from Landlord up to a total of 8 unreserved parking spaces (the "Spaces") for the use of Tenant and its employees. Of the 8 Spaces allotted to
Tenant, 2 shall be located in the on site parking garage (the "On-site Garage") and 6 shall be located in the off site parking garage
located at 75 Howard Street (the "Off-site Garage"). If Tenant is leasing 6 or less Spaces, Landlord shall determine whether any of such
Spaces shall be located at the On-Site Garage. No deductions or allowances shall be made for days when Tenant or any of its employees does not utilize the parking facilities or for Tenant
utilizing less than all of the Spaces. Tenant shall not have the right to lease or otherwise use more than the number of reserved and unreserved Spaces set forth above. Tenant hereby elects to lease 0
Spaces as of the date of this Lease. 

If
Tenant has elected to lease any of the Spaces from Landlord during the Term, by providing no less than 30 days prior written notice to Landlord, effective upon each annual anniversary of the
Commencement Date of the Lease, Tenant may reduce the number of Spaces leased to Tenant hereunder; provided, however, that in the event Tenant so reduces the number of Spaces to which it is entitled
pursuant to the terms of this Parking Agreement, and, subsequently, Tenant desires to increase the number of Spaces it leases from Landlord, Tenant shall only be entitled to request to increase the
number of Spaces to no more than the maximum number of Spaces to which Tenant is entitled pursuant to the express terms and conditions hereof if, and during such periods that, such Spaces are
available as reasonably determined by Landlord, and otherwise pursuant to the terms and conditions of this Parking Agreement. 

	2.
	Tenant
shall pay Landlord or a third party designated by Landlord, as Additional Rent in accordance with Section 4 of the Lease, the monthly charges established from time to
time by Landlord for parking. The initial charge for such parking space(s) is $475.00 per month for each On-site Garage Space leased by Tenant hereunder and $375.00 per month for each
Off-site Garage Space leased by Tenant hereunder. No deductions from the monthly charge shall be made for days on which the Spaces are not used by Tenant.

	3.
	Except
for particular spaces and areas designated by Landlord for reserved parking, all parking shall be on an unreserved, first-come, first-served basis.

	4.
	Landlord
shall have the right from time to time to designate the location of the Spaces and to promulgate reasonable rules and regulations regarding the On-site Garage, the
Off-site Garage, the Spaces and the use thereof, including, but not limited to, rules and regulations controlling the flow of traffic to and from various parking areas, the angle and
direction of parking and the like. Tenant shall comply with and cause its employees to comply with all such rules and regulations as well as all reasonable additions and amendments thereto.

	5.
	Tenant
shall not store or permit its employees to store any automobiles in the On-site Garage or in the Off-site Garage without the prior written consent of
Landlord. Except for emergency repairs, Tenant and its employees shall not perform any work on any automobiles while located in the On-site Garage, in the Off-site Garage, or
on the Project. If it is necessary for Tenant or its employees to leave an automobile in the On-site Garage or in the Off-site Garage overnight, 

1

 

Tenant
shall provide Landlord with prior notice thereof designating the license plate number and model of such automobile. 

	6.
	Landlord
or the owner of the Off-Site Garage (as the case may be) shall have the right to temporarily close the On-site Garage or Off-site Garage,
or certain areas therein in order to perform necessary repairs, maintenance and improvements to the On-site Garage or the Off-site Garage (the "Repair Work"). If Landlord
intends to perform any Repair Work, and, if no less than 10% of Tenant's Spaces are closed or otherwise inaccessible and unusable as a result of the Repair Work, Landlord shall provide reasonable
alternative parking within reasonable walking distance from the Building or, alternatively, if Landlord is unable to provide alternative parking within reasonable walking distance from the Buildings,
Landlord may provide a shuttle or other transportation service for Tenant. In the event Landlord closes all or a portion of the Parking Facility in accordance with this Section 6, and is unable
to provide alternative parking or shuttle or other transportation service to Tenant, Landlord shall credit to Tenant any prepaid parking fee hereunder, prorated on a per diem basis. Notwithstanding
anything to the contrary contained herein, Landlord shall have a right to terminate this Lease as to the Off-site Garage Spaces on 30 days' prior notice to Tenant should Landlord or
the owner of the Off-Site Garage (as the case may be) cease to own or operate the Off-site Garage, or if Landlord or the owner of the Off-Site Garage (as the case
may be) decides to remodel, remove, demolish or redevelop the Off-site Garage or any substantial portion thereof.

	7.
	Tenant
shall not assign or sublease any of the Spaces without the consent of Landlord. Landlord shall have the right to terminate this Parking Agreement with respect to any Spaces that
Tenant desires to sublet or assign without Landlord's prior written consent and to a party other than in connection with an approved Transfer as provided in Article 11 of the Lease. Further,
Landlord shall have the right to suspend for a 12 full calendar month period Tenant's rights under this Parking Agreement with respect to any Spaces that Tenant desires to sublet or assign without
Landlord's prior written consent and in connection with an approved Transfer as provided in Article 11 of the Lease, which suspension shall commence upon the date of such proposed assignment or
sublease of any of Tenant's Spaces.

	8.
	Landlord
may elect to provide parking cards or keys to control access to the On-site Garage or Off-site Garage. In such event, Landlord shall provide Tenant
with one card or key for each Space that Tenant is leasing hereunder, provided that Landlord shall have the right to require Tenant or its employees to place a deposit on such access cards or keys and
to pay a fee for any lost or damaged cards or keys.

	9.
	TENANT
ACKNOWLEDGES AND AGREES THAT, TO THE FULLEST EXTENT PERMITTED BY LAW, LANDLORD SHALL NOT BE RESPONSIBLE FOR ANY LOSS OR DAMAGE TO TENANT OR TENANT'S PROPERTY (INCLUDING, WITHOUT
LIMITATIONS, ANY LOSS OR DAMAGE TO TENANT'S AUTOMOBILE OR THE CONTENTS THEREOF DUE TO THEFT, VANDALISM OR ACCIDENT) ARISING FROM OR RELATED TO TENANT'S USE OF THE SPACES OR EXERCISE OF ANY RIGHTS
UNDER THIS PARKING AGREEMENT, WHETHER OR NOT SUCH LOSS OR DAMAGE RESULTS FROM LANDLORD'S ACTIVE NEGLIGENCE OR NEGLIGENT OMISSION. THE LIMITATION ON LANDLORD'S LIABILITY UNDER THE PRECEDING SENTENCE
SHALL NOT APPLY HOWEVER TO LOSS OR DAMAGE ARISING DIRECTLY FROM LANDLORD'S WILLFUL MISCONDUCT.

	10.
	Without
limiting the provisions of this Parking Agreement, Tenant hereby voluntarily releases, discharges, waives and relinquishes any and all actions or causes of action for personal
injury or property damage occurring to Tenant arising as a result of parking in the Spaces, or any activities incidental thereto, wherever or however the same may occur, and further agrees that Tenant
will 

2

 

not
prosecute any claim for personal injury or property damage against Landlord or any of its officers, agents, servants or employees for any said causes of action. It is the intention of Tenant by
this instrument, to exempt and relieve Landlord from liability for personal injury or property damage caused by negligence. 

	11.
	The
provisions of Section 20 of the Lease are hereby incorporated by reference as if fully recited. 

        Tenant
acknowledges that Tenant has read the provisions of this Parking Agreement, has been fully and completely advised of the potential dangers incidental to parking in the Spaces and
is fully aware of the legal consequences of agreeing to this instrument. 

3

  

 
 

EXHIBIT H    
    
    ASBESTOS NOTIFICATION    
    

        This Exhibit is attached to and made a part of the Lease by and between CA-ONE MARKET LIMITED PARTNERSHIP, a Delaware limited
partnership ("Landlord") and AUTONOMY, INC., a New Jersey corporation ("Tenant") for space in the Spear Tower in the
Building located at One Market, San Francisco, California. 

        As
you may know, asbestos, because of its insulating and fire-resistant properties, was historically used in some construction materials. California's Connelly Act, as well
as federal OSHA and some other California rules, now require building owners and landlords to make certain notifications regarding known asbestos-containing materials
("ACM") and presumed ACMs ("PACM"). PACM consists of certain older construction materials which commonly
contained asbestos. This Exhibit is designed to provide you with the required ACM and PACM notifications. 

 
 

ACM    
    

        Our asbestos survey(s) for the Building did note the presence, location or quantity of ACM in the Building as follows: vinyl floor tile,
linoleum sheeting, built-up roofing material, associated tar and transite paneling located on the cooling towers, and rope sealant around duct penetrations. 

 
 

PACM    
    

        PACM consists of thermal system insulation and surfacing material found in buildings constructed prior to 1981, and asphalt or vinyl flooring installed prior to
1981. "Surfacing material" means material that is sprayed-on, troweled-on or otherwise applied to surfaces (such as acoustical
plaster on ceilings and fireproofing materials on structural members, or other materials on
surfaces for acoustical, fireproofing, and other purposes). Because this Building was constructed prior to 1981, PACM may be present. 

        The
fact that our survey(s) may identify such materials as PACM does not necessarily mean that no other PACM exists in the Building. Please be advised that if any thermal system
insulation, asphalt or vinyl flooring or surfacing material, of the type described above, are found to be present in the Building, such materials must be considered PACM unless properly tested and
shown otherwise. 

        Because
of the presence of ACM and the potential presence of PACM in the Building, we are providing you with the following warning, which is commonly known as a California Proposition 65
warning: 

WARNING: This Building contains asbestos, a chemical known to the State of California to cause cancer.

        In
addition, you should be aware that there are certain potential health risks that may result from exposure to asbestos. Because we are not physicians, scientists or industrial
hygienists, we have no special knowledge of the health impact of exposure to asbestos. However, we hired an environmental consulting firm to prepare an asbestos Operations and Maintenance Plan
("O&M Plan") to address asbestos matters at the Building. The O&M Plan is designed to minimize the potential for a release of asbestos fibers and
outlines a schedule of actions to be undertaken with respect to asbestos. The written O&M Plan is available for your review at our Building Management Office during regular business hours, and a copy
of the O&M Plan will be provided to you upon request. 

        In
general, the written O&M Plan describes the risks associated with asbestos exposure and how to prevent such exposure. The O&M Plan describes those risks as follows: asbestos is not a
significant health concern unless asbestos fibers are released and inhaled. If inhaled, asbestos fibers can accumulate in the lungs and, as exposure increases, the risk of disease (such as asbestosis
and cancer) 

1

 

increases.
However, measures to minimize exposure and consequently minimize the accumulation of fibers, reduces the risk of adverse health effects. 

        The
O&M Plan is designed to safely manage the ACM and PACM in the Building and to avoid the inadvertent disturbance of such ACM or PACM. To that end, the O&M Plan provides for the
training of building housekeeping and maintenance personnel so that they can conduct their work without causing a release of asbestos fibers. As part of the O&M Plan, we maintain records of all
asbestos-
related activities and the results of any asbestos survey, sampling or monitoring conducted in the Building. 

        The
written O&M Plan describes a number of activities which should be avoided in order to prevent a release of asbestos fibers in the Building. In particular, you should be aware that
some of the activities which may present a health risk by causing an airborne release of asbestos fibers include moving, drilling, boring or otherwise disturbing ACM or PACM. Consequently, such
activities should not be attempted by any person not qualified to handle ACM or PACM. In other words, you must obtain the approval of Building management prior to engaging in any such activities.
Please contact the Property Manager for more information in this regard. In addition, please contact the Property Manager if you notice any deterioration or disturbance of ACM or PACM. Also, note that
the identification of ACM and PACM in this Exhibit is based on actual knowledge and assumptions that the law requires us to make: such materials do not necessarily comprise all asbestos in the
Building. 

        Please
be aware that you may have certain obligations under California and federal laws with regard to the ACM and PACM in the Building, including obligations to notify your own
employees, contractors, subtenants, agents and others of the presence of ACM and PACM. You are solely responsible for complying with all such applicable laws. 

        Please
contact the Property Manager if you have any questions regarding the contents of this Exhibit. 

2

  

 
 

EXHIBIT I    
    
    AGREEMENT OF SUBORDINATION, NON-DISTURBANCE AND ATTORNMENT    
    

        THIS AGREEMENT made the            day
of                , 200    , by and among
CA-ONE MARKET LIMITED PARTNERSHIP, a Delaware limited partnership (hereinafter called "Ground
Lessor"), AUTONOMY, INC., a New Jersey corporation (hereinafter called "Tenant") and TEACHERS
INSURANCE AND ANNUITY ASSOCIATION OF AMERICA, a New York corporation, having its principal office and post office address at 730 Third Avenue, New York, New York 10017
(hereinafter called "Teachers"); 

 
 

WITNESSETH:    
    

        WHEREAS, Ground Lessor is the owner in fee simple of those certain premises situate, lying and being in the City
of San Francisco, County of San Francisco, State of California, as more particularly described in Exhibit A attached hereto; and 

        WHEREAS, under the terms of a certain lease dated April 16, 1973, (hereinafter called "Ground
Lease"), a short form of which has been recorded on April 24, 1973, Book B755 at Page 597, Series No. V71530 and an Assignment and Assumption of Tenant's Interest in
Lease recorded November 22, 1994, Book G263, Page 204, Series No. 94-F716286-00, Official Records, San Francisco County, State of California, amended by First
Amendment to Lease Agreement recorded October 3, 1995 in Reel G479, Image 280, Ground Lessor did lease, let and demise the Demised Premises to CA-ONE MARKET
LIMITED PARTNERSHIP, a Delaware limited partnership (hereinafter called "Landlord") for a term of 99 years commencing April 16, 1973, and continuing to and
including April 15, 2072, upon the terms and conditions therein more particularly set forth; 

        WHEREAS, Teachers is the owner and holder of a certain promissory note dated September 29, 1995, secured by a Deed of Trust and
Assignment of Rents and Fixture Filing Statement of even date therewith, recorded on October 3, 1995, as Document F866003, in the Official Records aforesaid,
constituting a first lien upon the fee simple estate in the Demised Premises as well as upon the leasehold estate created by said Ground Lease; 

        WHEREAS, under the terms of a certain lease and amendments, if any described in that certain Lease by and between  CA-ONE MARKET LIMITED PARTNERSHIP, a Delaware limited
partnership and Tenant dated                        , 2004 (hereinafter called
"Sublease"), Landlord did lease, let and demise, subject to said Ground Lease, a portion of the Demised Premises as therein more particularly described; 

        WHEREAS, the parties hereto desire to establish additional rights of quiet and peaceful possession for the benefit of Tenant under said
Sublease and further to define the terms, covenants and conditions precedent for such additional rights. 

        NOW, THEREFORE, in consideration of the respective demises and of the sum of One Dollar ($1.00) and other good and valuable consideration,
each to the other in hand paid, it is hereby mutually covenanted and agreed as follows: 

        That
Ground Lessor does hereby represent, covenant and warrant: 

	(a)
	That
said Ground Lease is in full force and effect and unmodified.

	(b)
	That
there is no existing default under the provisions of said Ground Lease or in the performance of any of the terms, covenants, conditions or warranties thereof on the part of
either Ground Lessor or Landlord to be observed and performed thereunder. 

        That
Ground Lessor consents to and approves the within Sublease. 

1

 

        That
in the event of the cancellation or termination of said Ground Lease or of the surrender thereof, whether voluntary, involuntary or by operation of law, prior to the expiration date
of said Sublease, including any extensions and renewals of said Sublease now provided thereunder, and subject to the
observance and performance by Tenant of all of the terms, covenants and conditions of said Sublease on the part of Tenant to be observed and performed, Ground Lessor does hereby covenant and warrant
as follows: 

	(a)
	The
quiet and peaceful possession of Tenant under said Sublease;

	(b)
	That
the Sublease shall continue in full force and effect and Ground Lessor shall recognize the Sublease and the Tenant's rights thereunder and will thereby establish direct privity
of estate and contract as between Ground Lessor and Tenant, with the same force and effect and with the same relative priority in time and right as though the Sublease were originally made directly
from Ground Lessor in favor of Tenant, but not in respect of any amendment to such Sublease not previously approved in writing by Ground Lessor;

	(c)
	To
assume such of the obligations on the part of the Landlord under the Sublease which are deemed to run with the land for so long as Ground Lessor shall be the owner in fee of said
Demised Premises; 

provided,
however, Ground Lessor shall not in any way or to any extent be liable to Tenant; unless Landlord and Ground Lessor are the same entity: 

	(1)
	For
any past act or default on the part of the original or any prior landlord under said Sublease and Tenant shall have no right to assert same or any damages arising therefrom as an
offset or defense against Ground Lessor;

	(2)
	For
the commencement or completion of any construction or any contribution toward construction or installation of any improvements upon the demised premises required under said
Sublease, or any expansion or rehabilitation of existing improvements thereon, or for restoration of improvements following any casualty not required to be insured under such Sublease or for the costs
of any restoration in excess of the proceeds recovered under any insurance required to be carried under such Sublease;

	(3)
	For
any prepayment of rent or deposit, rental security or any other sums deposited with the original or any prior landlord under such Sublease and not delivered to Ground Lessor; or

	(4)
	For
any restriction on competition beyond the Demised Premises. 

        That
in the event of the cancellation or termination of said Ground Lease or of the surrender thereof, whether voluntary, involuntary or by operation of law, prior to the expiration date
of said Sublease, including any extensions and renewals of said Sublease now provided thereunder, Tenant hereby covenants and agrees to make full and complete attornment to Ground Lessor, for the
balance of the term of the Sublease, including any extensions and renewals thereof, now provided thereunder, upon the same terms, covenants and conditions as therein provided, so as to establish
direct privity of estate and contract as between Ground Lessor and Tenant and with the same force and effect and relative priority in time and right as though the Sublease were originally made
directly from Ground Lessor to Tenant, and Tenant will thereafter make all rent payments directly to Ground Lessor, and 

        That
Teachers and Tenant do hereby covenant and agree that said Mortgage or Deed of Trust shall be and the same is hereby made SUBORDINATE to said Sublease and to the recognition and
attornment agreements provided for in the third and fourth grammatical paragraphs hereof with the same force and effect as if said Sublease had been executed, delivered and recorded and said
recognition and attornment agreements aforesaid had been effected in each case prior to the execution, delivery and recording of said Mortgage or Deed of Trust. 

2

 

        EXCEPT, HOWEVER, that this Subordination shall not affect nor be applicable to and does hereby expressly exclude: 

	(a)
	The
prior right and claim under and the prior lien of said Mortgage or Deed of Trust in, to and upon any award or other compensation heretofore or hereafter to be made for any taking
by eminent domain of any part of the Demised Premises, and as to the right of disposition thereof in accordance with the provisions of said Mortgage or Deed of Trust,

	(b)
	The
prior right and claim under and the prior lien of said Mortgage or Deed of Trust, in, to and upon any proceeds payable under all policies of fire and rent insurance upon the
Demised Premises and as to the right of disposition thereof in accordance with the terms of said Mortgage or Deed of Trust, and

	(c)
	Any
lien, right, power or interest, if any, which may have arisen or intervened in the period between the recording of said Mortgage or Deed of Trust and the execution of said
Sublease or the effective date of the recognition and attornment agreements aforesaid, whichever is later, and any lien or judgment which may arise at any time under the terms of said Sublease. 

        Tenant
shall not subordinate the Sublease to any other mortgage or deed of trust so long as the Mortgage or Deed of Trust now held or to be held by Teachers remains in effect. 

        Ground
Lessor and Landlord agree that the Ground Lease shall not be modified, amended, canceled, terminated or surrendered without the express prior written consent of Teachers. 

        This
Subordination may not be modified except by an agreement in writing signed by the parties hereto. 

        That
the terms, covenants and conditions hereof shall inure to the benefit of and be binding upon the respective parties hereto, their respective heirs, executors, administrators,
successors and assigns. 

        IN WITNESS WHEREOF, the parties hereto have caused this writing to be signed, sealed and delivered in their respective names and behalf,
and, if a corporation, by its officers duly authorized, on the day and year first above written. 

	

 	
GROUND LESSOR:
	

 	

CA-ONE MARKET LIMITED PARTNERSHIP, a Delaware limited partnership
	

 	
By:	

EOM GP, L.L.C., a Delaware limited liability company, its general partner
	

 	

 	

By:	

Equity Office Management, L.L.C., a Delaware limited liability company, its non-member manager
	

 	

 	

 	

By:	

 
	 	 	 	 	

	 	 	 	Name:	 
	 	 	 	 	

	 	 	 	Title:	 
	 	 	 	 	

3

 

	

 	
LANDLORD:
	

 	

CA-ONE MARKET LIMITED PARTNERSHIP, a Delaware limited partnership
	

 	
By:	

EOM GP, L.L.C., a Delaware limited liability company, its general partner
	

 	

 	

By:	

Equity Office Management, L.L.C., a Delaware limited liability company, its non-member manager
	

 	

 	

 	

By:	

 
	 	 	 	 	

	 	 	 	Name:	 
	 	 	 	 	

	 	 	 	Title:	 
	 	 	 	 	

	

 	
TENANT:
	

 	

AUTONOMY, INC., a New Jersey corporation
	

 	
By:	

 	

 	

 
	 	 	

	 	Name:	 	 	 
	 	 	

	 	Title:	 	 	 
	 	 	

	

 	

By:	

 	

 	

 
	 	 	

	 	Name:	 	 	 
	 	 	

	 	Title:	 	 	 
	 	 	

	

 	
[SIGNATURES CONTINUED ON FOLLOWING PAGE]
	 	 	 	 	 

4

 

	

 	

LENDER:
	

 	

TEACHERS INSURANCE AND ANNUITY ASSOCIATION OF AMERICA, a New York corporation
	

 	
By:	

 	

 	

 
	 	 	

	 	Name:	 	 	 
	 	 	

	 	Title:	 	 	 
	 	 	

	

 	

By:	

 	

 	

 
	 	 	

	 	Name:	 	 	 
	 	 	

	 	Title:	 	 	 
	 	 	

5

  

 
 

NOTARY ACKNOWLEDGMENT
  (Ground Lessor)    
    

	State of	 	 	)	 	 
	 	 	
	 	 	 
	County of	 	 	)	 	 
	 	 	
	 	 	 

        On                        ,
before me,                        , personally
appeared                        of EQUITY OFFICE MANAGEMENT, L.L.C., a Delaware limited liability company,
the
non-member manager of EOM GP, L.L.C., a Delaware limited liability company, the general partner of CA-One Market Limited Partnership, a Delaware limited
partnership personally known to me—OR—proved to me on the basis of satisfactory evidence to be the
person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their
signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. 

	 	 	WITNESS my hand and official seal.	 
	

 	

 	

 Notary Public
	

My Commission Expires:	

 	

 	

 
	 	
	 
	

 
  OPTIONAL SECTION    
    

CAPACITY CLAIMED BY SIGNER  

        Though statute does not require the Notary to fill in the data below, doing so may prove invaluable to persons relying on the document. 

(check
one) 

	 	INDIVIDUAL	 
	
	 	 	 
	XXX	CORPORATE OFFICER	 
	

 	

TITLE:	

 	

 
	
	 	
	 
	 	PARTNER(S) LIMITED GENERAL
	
	 	 	 
	 	ATTORNEY-IN-FACT	 
	
	 	 	 
	 	TRUSTEE(S)	 
	
	 	 	 
	 	GUARDIAN/CONSERVATOR
	
	 	 	 
	 	OTHER:	 
	
	 	
	 

SIGNER IS REPRESENTING:
  Name of Person(s) or Entity(ies) 

CA-One Market Limited Partnership, a Delaware limited partnership ("Ground Lessor")

6

 
 
  OPTIONAL SECTION    
    

	THIS CERTIFICATE MUST BE

ATTACHED TO THE DOCUMENT	 	TITLE OR TYPE OF DOCUMENT: Subordination

Non-Disturbance and Attornment Agreement
	DESCRIBED AT RIGHT:	 	NUMBER OF PAGES	 	    

	 	 	DATE OF DOCUMENT	 	    

	

SIGNER(S) OTHER THAN NAMED ABOVE:
	
LANDLORD:	
 	

CA-One Market Limited Partnership, a Delaware limited partnership
	
LENDER:	
 	

Teachers Insurance and Annuity Association of America, a New York corporation
	
TENANT:	
 	

Autonomy, Inc., a New Jersey corporation
	
Though the data requested here is not required by law, it could prevent fraudulent reattachment of this form.

7

 
 
 

NOTARY ACKNOWLEDGMENT
  (Landlord)    
    

	State of	 	 	)	 	 
	 	 	
	 	 	 
	County of	 	 	)	 	 
	 	 	
	 	 	 

        On                        ,
before me,                        , personally
appeared                        of EQUITY OFFICE MANAGEMENT, L.L.C., a Delaware limited liability company,
the
non-member manager of EOM GP, L.L.C., a Delaware limited liability company, the general partner of CA-One Market Limited Partnership, a Delaware limited
partnership personally known to me—OR—proved to me on the basis of satisfactory evidence to be the
person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their
signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. 

	 	 	WITNESS my hand and official seal.	 
	

 	

 	

 Notary Public
	

My Commission Expires:	

 	

 	

 
	 	
	 
	

 
  OPTIONAL SECTION    
    

CAPACITY CLAIMED BY SIGNER  

        Though statute does not require the Notary to fill in the data below, doing so may prove invaluable to persons relying on the document. 

(check
one) 

	 	INDIVIDUAL	 
	
	 	 	 
	XXX	CORPORATE OFFICER	 
	

 	

TITLE:	

 	

 
	
	 	
	 
	 	PARTNER(S) LIMITED GENERAL
	
	 	 	 
	 	ATTORNEY-IN-FACT	 
	
	 	 	 
	 	TRUSTEE(S)	 
	
	 	 	 
	 	GUARDIAN/CONSERVATOR
	
	 	 	 
	 	OTHER:	 
	
	 	
	 

SIGNER IS REPRESENTING:
  Name of Person(s) or Entity(ies) 

CA-One Market Limited Partnership, a Delaware limited partnership ("Landlord")

8

 
 
  OPTIONAL SECTION    
    

	THIS CERTIFICATE MUST BE

ATTACHED TO THE DOCUMENT	 	TITLE OR TYPE OF DOCUMENT: Subordination

Non-Disturbance and Attornment Agreement
	DESCRIBED AT RIGHT:	 	NUMBER OF PAGES	 	    

	 	 	DATE OF DOCUMENT	 	    

	

SIGNER(S) OTHER THAN NAMED ABOVE:
	
GROUND LESSOR:	
 	

CA-One Market Limited Partnership, a Delaware limited partnership
	

LENDER:	
 	

Teachers Insurance and Annuity Association of America, a New York corporation
	
TENANT:	
 	

Autonomy, Inc., a New Jersey corporation
	
Though the data requested here is not required by law, it could prevent fraudulent reattachment of this form.

9

  

 
 

NOTARY ACKNOWLEDGMENT
  (LENDER)    
    

	State of	 	 	)	 	 
	 	 	
	 	 	 
	County of	 	 	)	 	 
	 	 	
	 	 	 

        On                        ,
before me,                        , personally
appeared                        of TEACHERS INSURANCE AND ANNUITY ASSOCIATION OF AMERICA, a New York
corporation personally known to me—OR—proved to me on the basis of satisfactory evidence to be the
person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their
signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. 

	 	 	WITNESS my hand and official seal.	 
	

 	

 	

 Notary Public
	

My Commission Expires:	

 	

 	

 
	 	
	 
	

 
  OPTIONAL SECTION    
    

CAPACITY CLAIMED BY SIGNER  

        Though statute does not require the Notary to fill in the data below, doing so may prove invaluable to persons relying on the document. 

(check
one) 

	 	INDIVIDUAL	 
	
	 	 	 
	 	CORPORATE OFFICER	 
	
	 	 	 
	 	TITLE:	 	 
	
	 	
	 
	 	PARTNER(S) LIMITED GENERAL
	
	 	 	 
	 	ATTORNEY-IN-FACT	 
	
	 	 	 
	 	TRUSTEE(S)	 
	
	 	 	 
	 	GUARDIAN/CONSERVATOR
	
	 	 	 
	 	OTHER:	 
	
	 	
	 

SIGNER IS REPRESENTING:
  Name of Person(s) or Entity(ies) 

Teachers Insurance and Annuity Association of America, a New York corporation ("Lender")

10

 
 
  OPTIONAL SECTION    
    

	THIS CERTIFICATE MUST BE

ATTACHED TO THE DOCUMENT	 	TITLE OR TYPE OF DOCUMENT: Subordination

Non- Disturbance and Attornment Agreement
	DESCRIBED AT RIGHT:	 	NUMBER OF PAGES	 	    

	 	 	DATE OF DOCUMENT	 	    

	

SIGNER(S) OTHER THAN NAMED ABOVE:
	
LANDLORD:	
 	

CA-One Market Limited Partnership, a Delaware limited partnership
	
GROUND LESSOR:	
 	

CA-One Market Limited Partnership, a Delaware limited partnership
	
TENANT:	
 	

Autonomy, Inc., a New Jersey corporation
	
Though the data requested here is not required by law, it could prevent fraudulent reattachment of this form.

11

 
 
 

NOTARY ACKNOWLEDGMENT
  (TENANT)    
    

	State of	 	 	)	 	 
	 	 	
	 	 	 
	County of	 	 	)	 	 
	 	 	
	 	 	 

        On                        ,
before me,                        , personally
appeared                        of Autonomy, Inc., a New Jersey corporation
            personally known to me—OR—proved to me on the basis of satisfactory evidence to be the
person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their
signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. 

	 	 	WITNESS my hand and official seal.	 
	

 	

 	

 Notary Public
	

My Commission Expires:	

 	

 	

 
	 	
	 
	

 
  OPTIONAL SECTION    
    

CAPACITY CLAIMED BY SIGNER  

        Though statute does not require the Notary to fill in the data below, doing so may prove invaluable to persons relying on the document. 

(check
one) 

	 	INDIVIDUAL	 
	
	 	 	 
	 	CORPORATE OFFICER	 
	
	 	 	 
	 	TITLE:	 	 
	
	 	
	 
	 	PARTNER(S) LIMITED GENERAL
	
	 	 	 
	 	ATTORNEY-IN-FACT	 
	
	 	 	 
	 	TRUSTEE(S)	 
	
	 	 	 
	 	GUARDIAN/CONSERVATOR	 
	
	 	 	 
	 	OTHER:	 	 
	
	 	
	 

SIGNER IS REPRESENTING:
  Name of Person(s) or Entity(ies) 

Autonomy, Inc., a New Jersey corporation ("Tenant")

12

 
 
  OPTIONAL SECTION    
    

	THIS CERTIFICATE MUST BE

ATTACHED TO THE DOCUMENT	 	TITLE OR TYPE OF DOCUMENT: Subordination

Non- Disturbance and Attornment Agreement
	DESCRIBED AT RIGHT:	 	NUMBER OF PAGES	 	    

	 	 	DATE OF DOCUMENT	 	    

	

SIGNER(S) OTHER THAN NAMED ABOVE:
	
LENDER:	
 	

Teachers Insurance and Annuity Association of America, a New York corporation
	
LANDLORD:	
 	

CA-One Market Limited Partnership, a Delaware limited partnership
	
GROUND LESSOR:	
 	

CA-One Market Limited Partnership, a Delaware limited partnership
	
Though the data requested here is not required by law, it could prevent fraudulent reattachment of this form.

13

  

 
 

EXHIBIT A    
    
    LEGAL DESCRIPTION    
    

THE LAND REFERRED TO HEREIN IS SITUATED IN THE STATE OF CALIFORNIA, COUNTY OF SAN FRANCISCO, CITY OF SAN FRANCISCO, AND IS DESCRIBED AS FOLLOWS:

BEGINNING AT THE POINT OF INTERSECTION OF THE NORTHWESTERLY LINE OF MISSION STREET WITH THE SOUTHWESTERLY LINE OF STEUART STREET; THENCE NORTH 44 DEGREES 51' 51" WEST ALONG
SAID SOUTHWESTERLY LINE, 334.33 FEET TO A POINT IN A LINE PARALLEL WITH AND DISTANT 334.33 FEET NORTHWESTERLY, MEASURED AT RIGHT ANGLES, FROM SAID NORTHWESTERLY LINE OF MISSION STREET; THENCE SOUTH 45
DEGREES 08' 09" WEST ALONG SAID PARALLEL LINE 32 FEET AND 41/2 INCHES; THENCE NORTH 44 DEGREES 51' 51" WEST 6 FEET AND 11/2 INCHES; THENCE SOUTH 45 DEGREES 08' 09"
WEST 16 FEET AND 4 INCHES; THENCE NORTH 44 DEGREES 51' 51" WEST 112 FEET AND 51/8 INCHES; THENCE SOUTH 45 DEGREES 08' 09" WEST 177 FEET AND 71/2 INCHES; THENCE
SOUTH 44 DEGREES 51' 51" EAST 112 FEET AND 51/8 INCHES; THENCE SOUTH 45 DEGREES 08' 09" WEST 16 FEET AND 31/2 INCHES; THENCE SOUTH 44 DEGREES 51' 51" EAST 6 FEET
AND 11/2 INCHES TO A POINT IN SAID PARALLEL LINE; THENCE SOUTH 45 DEGREES 09' 09" WEST ALONG SAID PARALLEL LINE 32 FEET AND 41/2 INCHES TO A POINT IN THE NORTHEASTERLY
LINE OF SPEAR STREET; THENCE SOUTH 44 DEGREES 51' 51" EAST ALONG SAID NORTHEASTERLY LINE, 334.33 FEET TO A POINT IN SAID NORTHWESTERLY LINE OF MISSION STREET; THENCE NORTH 45 DEGREES 08' 09"
EAST ALONG SAID NORTHWESTERLY LINE 274 FEET TO THE POINT OF BEGINNING.

14

QuickLinks

Exhibit 4.27

OFFICE LEASE AGREEMENT

EXHIBIT A-1 OUTLINE AND LOCATION OF PREMISES

EXHIBIT A-2 LEGAL DESCRIPTION OF PROJECT

EXHIBIT B EXPENSES AND TAXES

EXHIBIT C WORK LETTER

BASE BUILDING WORKLIST

SCHEDULE I TO EXHIBIT C WIRE INSTRUCTIONS

EXHIBIT D COMMENCEMENT LETTER (EXAMPLE)

EXHIBIT E BUILDING RULES AND REGULATIONS

EXHIBIT F ADDITIONAL PROVISIONS

EXHIBIT G PARKING AGREEMENT

EXHIBIT H ASBESTOS NOTIFICATION

ACM

PACM

EXHIBIT I AGREEMENT OF SUBORDINATION, NON-DISTURBANCE AND ATTORNMENT

WITNESSETH

NOTARY ACKNOWLEDGMENT (Ground Lessor)

OPTIONAL SECTION

OPTIONAL SECTION

NOTARY ACKNOWLEDGMENT (Landlord)

OPTIONAL SECTION

OPTIONAL SECTION

NOTARY ACKNOWLEDGMENT (LENDER)

OPTIONAL SECTION

OPTIONAL SECTION

NOTARY ACKNOWLEDGMENT (TENANT)

OPTIONAL SECTION

OPTIONAL SECTION

EXHIBIT A LEGAL DESCRIPTION<Page>

                                                                     Exhibit 4.1

                AMERICAN EQUITY INVESTMENT LIFE HOLDING COMPANY,

                                     Issuer

                                       And

                         U.S. BANK NATIONAL ASSOCIATION,
                                     Trustee

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

                         AMENDED AND RESTATED INDENTURE

                           Dated as of April 22, 2004

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

                             Senior Debt Securities

<Page>

                                TABLE OF CONTENTS

<Table>
<Caption>
                                                                                                      PAGE
<S>                                                                                                      <C>
                                               ARTICLE I
                                              DEFINITIONS
     SECTION 1.01   Definitions of Terms.................................................................1
    "Affiliate"..........................................................................................1
    "American Equity Trust"..............................................................................1
    "Authenticating Agent"...............................................................................1
    "Bankruptcy Law".....................................................................................2
    "Board of Directors".................................................................................2
    "Board Resolution"...................................................................................2
    "Business Day".......................................................................................2
    "Certificate"........................................................................................2
    "Company"............................................................................................2
    "Commission".........................................................................................2
    "Common Securities"..................................................................................2
    "Common Securities Guarantee.........................................................................2
    "Corporate Trust Office".............................................................................2
    "Custodian"..........................................................................................2
    "Declaration,".......................................................................................2
    "Default"............................................................................................2
    "Deferral Period,"...................................................................................3
    "Depositary".........................................................................................3
    "Event of Default"...................................................................................3
    "Global Security"....................................................................................3
    "Governmental Obligations"...........................................................................3
    "herein," "hereof" and "hereunder,"..................................................................3
    "Indebtedness".......................................................................................3
    "Indenture"..........................................................................................4
    "Insurance Subsidiary"...............................................................................4
    "Interest Payment Date,".............................................................................4
    "Investment Company Act".............................................................................4
    "Officers' Certificate"..............................................................................4
    "Opinion of Counsel".................................................................................4
    "Original Issue Discount Security"...................................................................4
    "Outstanding,".......................................................................................4
    "Paying Agent".......................................................................................5
    "Person".............................................................................................5
    "Place of Payment,"..................................................................................5
    "Predecessor Security"...............................................................................5
    "Preferred Securities"...............................................................................5
    "Preferred Securities Guarantee".....................................................................6
    "Property Trustee"...................................................................................6
    "Redemption Date,"...................................................................................6
    "Redemption Price,"..................................................................................6
    "Responsible Officer,"...............................................................................6
    "Securities".........................................................................................6
    "Securities Act".....................................................................................6
    "Securityholder," "holder of Securities," "registered holder,".......................................6
    "Stated Maturity,"...................................................................................6
</Table>

                                        i
<Page>

<Table>
<S>                                                                                                    <C>
    "Subsidiary".........................................................................................6
    "Trustee"............................................................................................6
    "Trust Indenture Act"................................................................................6
    "Trust Securities"...................................................................................7
    "Voting Stock,"......................................................................................7
    "Yield to Maturity"..................................................................................7

                                                ARTICLE II
                  DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE OF SECURITIES
    SECTION 2.01    Designation and Terms of Securities..................................................7
    SECTION 2.02    Form of Securities and Trustee's Certificate.........................................9
    SECTION 2.03    Denominations; Provisions for Payment...............................................10
    SECTION 2.04    Execution and Authentications.......................................................11
    SECTION 2.05    Registration of Transfer and Exchange...............................................12
    SECTION 2.06    Temporary Securities................................................................13
    SECTION 2.07    Mutilated, Destroyed, Lost or Stolen Securities.....................................13
    SECTION 2.08    Cancellation........................................................................14
    SECTION 2.09    Benefits of Indenture...............................................................14
    SECTION 2.10    Authenticating Agent................................................................14
    SECTION 2.11    Global Securities...................................................................15
    SECTION 2.12    CUSIP Numbers.......................................................................16

                                               ARTICLE III
                          REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS
    SECTION 3.01    Redemption..........................................................................16
    SECTION 3.02    Notice of Redemption................................................................16
    SECTION 3.03    Payment Upon Redemption.............................................................17
    SECTION 3.04    Sinking Fund........................................................................17
    SECTION 3.05    Satisfaction of Sinking Fund Payments with Securities...............................18
    SECTION 3.06    Redemption of Securities for Sinking Fund...........................................18

                                               ARTICLE IV
                                            CERTAIN COVENANTS
    SECTION 4.01    Payment of Principal, Premium and Interest..........................................19
    SECTION 4.02    Maintenance of Office or Agency.....................................................19
    SECTION 4.03    Paying Agents.......................................................................20
    SECTION 4.04    Statement by Officers as to Default.................................................21
    SECTION 4.05    Existence...........................................................................21
    SECTION 4.06    Payment of Taxes....................................................................21
    SECTION 4.07    Limitations on Disposition of Stock of the Insurance Subsidiaries...................22
    SECTION 4.08    Waiver of Certain Covenants.........................................................22
    SECTION 4.09    Appointment to Fill Vacancy in Office of Trustee....................................23
    SECTION 4.10    Compliance with Consolidation Provisions............................................23

                                               ARTICLE V
                   SECURITYHOLDERS' LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE
    SECTION 5.01    Company to Furnish Trustee Names and Addresses of Securityholders...................23
    SECTION 5.02    Preservation Of Information; Communications With Securityholders....................23
    SECTION 5.03    Reports by the Company..............................................................24
    SECTION 5.04    Reports by the Trustee..............................................................24
</Table>

                                       ii
<Page>

<Table>
<S>                                                                                                    <C>
                                               ARTICLE VI
                    REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT
    SECTION 6.01    Events of Default...................................................................25
    SECTION 6.02    Collection of Indebtedness and Suits for Enforcement by Trustee.....................27
    SECTION 6.03    Application of Moneys Collected.....................................................28
    SECTION 6.04    Limitation on Suits.................................................................28
    SECTION 6.05    Rights and Remedies Cumulative; Delay or Omission Not Waiver........................29
    SECTION 6.06    Control by Securityholders..........................................................29
    SECTION 6.07    Undertaking to Pay Costs............................................................30
    SECTION 6.08    Waiver of Past Defaults.............................................................30
    SECTION 6.09    Trustee to Give Notice of Default...................................................30

                                               ARTICLE VII
                                         CONCERNING THE TRUSTEE
    SECTION 7.01    Certain Duties and Responsibilities of Trustee......................................31
    SECTION 7.02    Certain Rights of Trustee...........................................................32
    SECTION 7.03    Trustee Not Responsible for Recitals or Issuance or Securities........................
    SECTION 7.04    May Hold Securities.................................................................33
    SECTION 7.05    Moneys Held in Trust................................................................33
    SECTION 7.06    Compensation and Reimbursement......................................................33
    SECTION 7.07    Reliance on Officers' Certificate...................................................34
    SECTION 7.08    Disqualification; Conflicting Interests.............................................34
    SECTION 7.09    Corporate Trustee Required; Eligibility.............................................34
    SECTION 7.10    Resignation and Removal; Appointment of Successor...................................35
    SECTION 7.11    Acceptance of Appointment By Successor..............................................36
    SECTION 7.12    Merger, Conversion, Consolidation or Succession to Business.........................37
    SECTION 7.13    Preferential Collection of Claims Against the Company...............................37

                                              ARTICLE VIII
                                     CONCERNING THE SECURITYHOLDERS
    SECTION 8.01    Evidence of Action by Securityholders...............................................37
    SECTION 8.02    Proof of Execution by Securityholders...............................................38
    SECTION 8.03    Who May be Deemed Owners............................................................38
    SECTION 8.04    Certain Securities Owned by Company Disregarded.....................................38
    SECTION 8.05    Actions Binding on Future Securityholders...........................................39

                                               ARTICLE IX
                                         SUPPLEMENTAL INDENTURES
    SECTION 9.01    Supplemental Indentures Without the Consent of Securityholders......................39
    SECTION 9.02    Supplemental Indentures With Consent of Securityholders.............................40
    SECTION 9.03    Effect of Supplemental Indentures...................................................41
    SECTION 9.04    Securities Affected by Supplemental Indentures......................................41
    SECTION 9.05    Execution of Supplemental Indentures................................................42

                                               ARTICLE X
                          CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE
    SECTION 10.01   When the Company May Consolidate, Merge, Etc........................................43

                                               ARTICLE XI
                                       SATISFACTION AND DISCHARGE
    SECTION 11.01   Satisfaction and Discharge of Indenture.............................................43
    SECTION 11.02   Deposited Moneys and Governmental Obligations to be Held in Trust...................44
    SECTION 11.03   Payment of Moneys Held by Paying Agents.............................................44
    SECTION 11.04   Repayment to Company................................................................44
</Table>

                                       iii
<Page>

<Table>
<S>                                                                                                    <C>
                                              ARTICLE XII
                    IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS
    SECTION 12.01   No Recourse.........................................................................44

                                              ARTICLE XIII
                                   DEFEASANCE AND COVENANT DEFEASANCE
    SECTION 13.01   Company's Option to Effect Defeasance or Covenant Defeasance........................45
    SECTION 13.02   Defeasance and Discharge............................................................45
    SECTION 13.03   Covenant Defeasance.................................................................46
    SECTION 13.04   Conditions to Defeasance or Covenant Defeasance.....................................46
    SECTION 13.05   Deposited Money and Government Obligations to Be Held in Trust; Miscellaneous
                    Provisions..........................................................................47
    SECTION 13.06   Reinstatement.......................................................................48

                                              ARTICLE XIV
                                        MISCELLANEOUS PROVISIONS
    SECTION 14.01   Effect on Successors and Assigns....................................................48
    SECTION 14.02   Actions by Successor................................................................48
    SECTION 14.03   Notices.............................................................................48
    SECTION 14.04   Governing Law.......................................................................49
    SECTION 14.05   Treatment of Securities as Debt.....................................................49
    SECTION 14.06   Compliance Certificates and Opinions................................................49
    SECTION 14.07   Payments on Business Days...........................................................49
    SECTION 14.08   Conflict with Trust Indenture Act...................................................50
    SECTION 14.09   Counterparts........................................................................50
    SECTION 14.10   Separability........................................................................50
    SECTION 14.11   Assignment..........................................................................50
    SECTION 14.12   Acknowledgment of Rights............................................................50
</Table>

                                       iv
<Page>

                            CROSS-REFERENCE TABLE(1)

<Table>
<Caption>
          Section of
 Trust Indenture Act of 1939,
          as amended                                                 Section of Indenture
--------------------------------                                     --------------------------
<S>                                                                       <C>
310(a)          ................................................          Inapplicable
310(b)          ................................................          7.08
310(c)          ................................................          Inapplicable
311(a)          ................................................          7.13
311(b)          ................................................          7.13
311(c)          ................................................          Inapplicable
312(b)          ................................................          5.02(c)
312(c)          ................................................          Inapplicable
313(a)          ................................................          5.04(a)
313(b)          ................................................          5.04(b)
313(c)          ................................................          5.04(b)
313(d)          ................................................          Inapplicable
314(a)          ................................................          Inapplicable
314(b)          ................................................          Inapplicable
314(c)          ................................................          Inapplicable
314(d)          ................................................          Inapplicable
314(e)          ................................................          Inapplicable
314(f)          ................................................          Inapplicable
315(a)          ................................................          Inapplicable
315(b)          ................................................          Inapplicable
315(c)          ................................................          Inapplicable
315(d)          ................................................          Inapplicable
315(e)          ................................................          Inapplicable
316(a)          ................................................          Inapplicable
316(b)          ................................................          Inapplicable
316(c)          ................................................          Inapplicable
317(a)          ................................................          Inapplicable
317(b)          ................................................          Inapplicable
318(a)          ................................................          Inapplicable
</Table>

----------
1    This Cross-Reference Table does not constitute part of the Indenture and
     shall not have any bearing on the interpretation of any of its terms or
     provisions.

                                        i
<Page>

                  This AMENDED AND RESTATED INDENTURE, dated as of April 22,
2004, between American Equity Investment Life Holding Company, an Iowa
corporation (the "Company"), and U.S. Bank National Association, a nationally
chartered banking association, as trustee (the "Trustee"), amends and
restates the Indenture, dated as of March 15, 2004, between the Company and
Trustee:

                  WHEREAS, for its lawful corporate purposes, the Company has
duly authorized the execution and delivery of this Indenture to provide for the
issuance of unsecured debt securities, debentures, notes, bonds, or other
evidences of indebtedness (hereinafter referred to as the "Securities"), in an
unlimited aggregate principal amount to be issued from time to time in one or
more series, as provided in this Indenture, including, without limitation,
Securities to be issued and sold from time to time to one or more American
Equity Trusts (as defined herein);

                  WHEREAS, the Company and the Trustee entered into the
Indenture as of March 15, 2004;

                  WHEREAS, the Company and the Trustee have agreed that the
Indenture should be amended and restated in the form hereof; and

                  WHEREAS, all things necessary to make this Indenture a valid
agreement of the Company, in accordance with its terms, have been done.

                  NOW, THEREFORE, in consideration of the premises and the
purchase of the Securities by the holders thereof, it is mutually covenanted and
agreed as follows for the equal and ratable benefit of the holders of
Securities:

                                    ARTICLE I

                                   DEFINITIONS

                  SECTION 1.01    Definitions of Terms.

                  The terms defined in this Section (except as in this Indenture
otherwise expressly provided or unless the context otherwise requires) for all
purposes of this Indenture and of any indenture supplemental hereto shall have
the respective meanings specified in this Section and shall include the plural
as well as the singular. All other terms used in this Indenture that are defined
in the Trust Indenture Act of 1939, as amended, or that are by reference in such
Act defined in the Securities Act of 1933, as amended (except as herein
otherwise expressly provided or unless the context otherwise requires), shall
have the meanings assigned to such terms in said Trust Indenture Act and in said
Securities Act as in force at the date of the execution of this instrument.

                  "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. When used with respect to any Person,
"control" means the power, directly or indirectly, to direct or cause the
direction of the management and policies of such Person, whether through the
ownership of voting securities, by contract or otherwise; and the terms
"controlling" and "controlled" and "under common control with" have meaning
correlative to the foregoing.

                  "American Equity Trust" means each of American Equity Capital
Trust V and American Equity Capital Trust VI (together, the "Trusts"), each a
statutory business trust formed under the laws of the State of Delaware, or any
other similar trust created for the purpose of issuing preferred securities in
connection with the issuance of Securities under this Indenture.

                  "Authenticating Agent" means an authenticating agent with
respect to all or any of the series of Securities appointed with respect to all
or any series of the Securities by the Trustee pursuant to Section 2.10.

<Page>

                  "Bankruptcy Law" means Title 11, U.S. Code, or any similar
federal or state bankruptcy, insolvency, reorganization or other law for the
relief of debtors.

                  "Board of Directors" means the Board of Directors of the
Company or any duly authorized committee of such 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.

                  "Business Day" means, with respect to any series of
Securities, any day other than a day on which federal or state banking
institutions in the Borough of Manhattan, The City of New York, are authorized
or obligated by law, executive order or regulation to close.

                  "Certificate" means a certificate signed by the principal
executive officer, the principal financial officer or the principal accounting
officer of the Company. The Certificate need not comply with the provisions of
Section 14.06.

                  "Company" means American Equity Investment Life Holding
Company, a corporation duly organized and existing under the laws of the State
of Iowa, and, subject to the provisions of Article X, shall also include its
successors and assigns.

                  "Commission" means the Securities and Exchange Commission,
from time to time constituted, created under the Securities Exchange Act of
1934, as amended (the "Exchange Act"), 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.

                  "Common Securities" means undivided beneficial interests in
the assets of an American Equity Trust which rank pari passu with Preferred
Securities issued by such American Equity Trust; provided, however, that upon
the occurrence of an Event of Default, the rights of holders of Common
Securities to payment in respect of distributions and payments upon liquidation,
redemption and otherwise are subordinated to the rights of holders of Preferred
Securities.

                  "Common Securities Guarantee" means any guarantee agreement
executed by the Company with respect to the Common Securities issued by an
American Equity Trust pursuant to which the Company agrees to pay the guarantee
payments under any such guarantee agreement to the holders of such Common
Securities.

                  "Corporate Trust Office" means the office of the Trustee at
which, at any particular time, its corporate trust business shall be principally
administered, which office at the date hereof is located at U.S. Bank National
Association, 60 Livingston Avenue, St. Paul, MN 55107-2292, Facsimile:
651-495-8097, Attention: Frank Leslie.

                  "Custodian" means any receiver, trustee, assignee, liquidator,
sequestrator, custodian or similar official under any Bankruptcy Law.

                  "Declaration," with respect to an American Equity Trust, means
the Amended and Restated Declaration of Trust of such American Equity Trust.

                  "Default" means any event, act or condition that with notice
or lapse of time, or both, would constitute an Event of Default.

                                        2
<Page>

                  "Deferral Period," with respect to any series of Securities,
means any period during which the Company elects to extend the interest payment
period on such series of Securities pursuant to Section 4.01(b); provided that a
Deferral Period (or any extension thereof) may not extend beyond the Stated
Maturity or the Redemption Date of any Security of such series and must end on
an Interest Payment Date or, if the Securities are redeemed, on an Interest
Payment Date or the Redemption Date for such Securities.

                  "Depositary" means, with respect to Securities of any series,
for which the Company shall determine that such Securities will be issued as a
Global Security, The Depository Trust Company, New York, New York, another
clearing agency, or any successor registered as a clearing agency under the
Exchange Act, or other applicable statute or regulation, which, in each case,
shall be designated by the Company pursuant to either Section 2.01 or Section
2.11.

                  "Event of Default" means, with respect to Securities of a
particular series any event specified in Section 6.01, continued for the period
of time, if any, therein designated.

                  "Global Security" means, with respect to any series of
Securities, a Security executed by the Company and delivered by the Trustee to
the Depositary or pursuant to the Depositary's instruction, all in accordance
with the Indenture, which shall be registered in the name of the Depositary or
its nominee.

                  "Governmental Obligations" means securities that 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 that, in either case, are not
callable or redeemable at the option of the issuer thereof, and shall also
include a depositary receipt issued by a bank (as defined in Section 3(a)(2) of
the Securities Act of 1933, as amended) as custodian with respect to any such
Governmental Obligation or a specific payment of principal of or interest on any
such Governmental Obligation held by such custodian for the account of the
holder of such depositary receipt; provided, however, that (except as required
by law) such custodian is not authorized to make any deduction from the amount
payable to the holder of such depositary receipt from any amount received by the
custodian in respect of the Governmental Obligation or the specific payment of
principal of or interest on the Governmental Obligation evidenced by such
depositary receipt.

                  "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.

                  "Indebtedness" of any person means the principal of and
premium, if any, and interest due on indebtedness of such Person, whether
outstanding on the date of this Indenture or thereafter created, incurred or
assumed, which is (a) indebtedness for money borrowed, and (b) any amendments,
renewals, extensions, modifications and refundings of any such indebtedness. For
the purposes of this definition, "indebtedness for money borrowed" means (i) any
obligation of, or any obligation guaranteed by, such Person for the repayment of
borrowed money, whether or not evidenced by bonds, debentures, notes or other
written instruments, (ii) any obligation of, or any such obligation guaranteed
by, such Person evidenced by bonds, debentures, notes or similar written
instruments, including obligations assumed or incurred in connection with the
acquisition of property, assets or businesses (provided, however, that the
deferred purchase price of any other business or property or assets shall not be
considered Indebtedness if the purchase price thereof is payable in full within
90 days from the date on which such indebtedness was created), and (iii) any
obligations of such Person as lessee under leases required to be capitalized on
the balance sheet of the lessee under generally accepted accounting

                                        3
<Page>

principles and leases of property or assets made as part of any sale and
lease-back transaction to which such Person is a party.

                  "Indenture" means this instrument as originally executed and
as it may from time to time be supplemented or amended by one or more indentures
supplemental hereto entered into pursuant to the applicable provisions hereof,
including, for all purposes of this instrument and any such supplemental
indenture, the provisions of the Trust Indenture Act that are deemed to be a
part of and govern this instrument and any such supplemental indenture,
respectively. The term "Indenture" shall also include the terms of particular
series of Securities established as contemplated by Section 2.01.

                  "Insurance Subsidiary" means each of (i) American Equity
Investment Life Insurance Company, an insurance company duly organized and
existing under the insurance laws of the State of Iowa or any Person
successor thereto and (ii) American Equity Investment Life Insurance Company
of New York, an insurance company duly organized and existing under the laws
of the State of New York or any Person successor thereto (together, the
"Insurance Subsidiaries").

                  "Interest Payment Date," when used with respect to any
Security, means the Stated Maturity of an installment of interest on a Security
of a particular series.

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

                  "Officers' Certificate" means a certificate signed by the
Chief Financial Officer, President or a Vice President and by the Treasurer or
an Assistant Treasurer or the Controller or an Assistant Controller or the
Secretary or an Assistant Secretary of the Company that is delivered to the
Trustee in accordance with the terms hereof. Each such certificate shall include
the statements provided for in Section 14.06, if and to the extent required by
the provisions thereof.

                  "Opinion of Counsel" means an opinion in writing of legal
counsel, who may be an employee of or counsel for the Company that is delivered
to the Trustee in accordance with the terms hereof. Each such opinion shall
include the statements provided for in Section 14.06, if and to the extent
required by the provisions thereof.

                  "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 6.01(b).

                  "Outstanding," when used with reference to Securities of any
series, means, subject to the provisions of Section 8.04, as of any particular
time, all Securities of that series theretofore authenticated and delivered by
the Trustee under this Indenture, except (a) Securities theretofore canceled by
the Trustee or any Paying Agent, or delivered to the Trustee or any Paying Agent
for cancellation or that have previously been canceled; (b) Securities or
portions thereof for the payment or redemption of which moneys or Governmental
Obligations in the necessary amount shall have been deposited in trust with the
Trustee or with any Paying Agent (other than the Company) or shall have been set
aside and segregated in trust by the Company (if the Company shall act as its
own Paying Agent); provided, however, that if such Securities or portions of
such Securities are to be redeemed prior to the maturity thereof, notice of such
redemption shall have been given as in Article III provided, or provision
satisfactory to the Trustee shall have been made for giving such notice; (c)
Securities in lieu of or in substitution for which other Securities shall have
been authenticated and delivered pursuant to the terms of Section 2.07; (d)
Securities

                                        4
<Page>

as to which Defeasance (as defined in Section 13.02) has been effected pursuant
to Section 13.02; and (e) Securities as to which Covenant Defeasance (as defined
in Section 13.03) has been effected pursuant to Section 13.03, but only with
respect to any direction, waiver, consent, declaration or other act of holders
(and the consequences thereof) in connection with Article X, Sections 4.06 and
4.07 and any covenants provided pursuant to Sections 2.01(15), 9.01(3) or
9.01(6) for the benefit of the holders of the Securities, but shall continue to
be deemed "Outstanding" for all other purposes hereunder; provided, however,
that in determining whether the holders of the requisite principal amount of the
Outstanding Securities have given, made or taken any request, demand,
authorization, direction, notice, consent, waiver or other action hereunder as
of any date, (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 payable as of such date upon acceleration of the
maturity thereof to such date pursuant to Section 6.01(b), (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 2.01, (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 2.01, of the principal amount of such
Security (or, in the case of a Security described in Clause (A) or (B) above, of
the amount determined as provided in such Clause), and (D) Securities
beneficially owned by the Company or any other obligor upon the Securities or
any Affiliate of the Company or of such other obligor shall be disregarded and
deemed not to be Outstanding, except that, in determining whether the Trustee
shall be protected in relying upon any such request, demand, authorization,
direction, notice, consent, waiver or other action, 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.

                  "Paying Agent" means any Person authorized by the Company to
pay the principal of or any premium or interest on any Securities on behalf of
the Company.

                  "Person" means any individual, corporation, partnership,
joint- venture, joint-stock company, 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 any premium
and interest on the Securities of that series are payable as specified as
contemplated by Section 2.01.

                  "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 Section 2.07 in lieu of a lost,
destroyed or stolen Security shall be deemed to evidence the same debt as the
lost, destroyed or stolen Security.

                  "Preferred Securities" means undivided beneficial interests in
the assets of an American Equity Trust which rank pari passu with Common
Securities issued by such American Equity Trust; provided, however, that upon
the occurrence of an Event of Default, the rights of holders of Common
Securities to payment in respect of distributions and payments upon liquidation,
redemption and otherwise are subordinated to the rights of holders of Preferred
Securities.

                                        5
<Page>

                  "Preferred Securities Guarantee" means any guarantee agreement
executed by the Company with respect to the Preferred Securities issued by an
American Equity Trust pursuant to which the Company agrees to pay the guarantee
payments under any such guarantee agreement to the holders of such Preferred
Securities.

                  "Property Trustee" has the meaning set forth in the
Declaration of the applicable American Equity Trust.

                  "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.

                  "Responsible Officer," when used with respect to the Trustee,
means the Chairman of the Board of Directors, the President, any Vice-President,
the Secretary, the Treasurer, any trust officer, any corporate trust officer or
any other officer or assistant officer of the Trustee customarily performing
functions similar to those performed by the Persons who at the time shall be
such officers, respectively, or to whom any corporate trust matter is referred
because of his or her knowledge of and familiarity with the particular subject.

                  "Securities" has the meaning stated in the preamble of this
Indenture and more particularly means any Securities authenticated and delivered
under this Indenture.

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

                  "Securityholder," "holder of Securities," "registered holder,"
or other similar term, means the Person or Persons in whose name or names a
particular Security shall be registered on the books of the Company kept for
that purpose in accordance with the terms of this Indenture.

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

                  "Subsidiary" means, with respect to any Person, (i) any
corporation at least a majority of whose outstanding Voting Stock shall at the
time be owned, directly or indirectly, by such Person or by one or more of its
Subsidiaries or by such Person and one or more of its Subsidiaries, (ii) any
general partnership, joint venture or similar entity, at least a majority of
whose outstanding partnership or similar interests shall at the time be owned by
such Person, or by one or more of its Subsidiaries, or by such Person and one or
more of its Subsidiaries and (iii) any limited partnership of which such Person
or any of its Subsidiaries is a general partner.

                  "Trustee" means U.S. Bank National Association and, subject to
the provisions of Article VII, shall also include its successors and assigns
and, if at any time there is more than one Person acting in such capacity
hereunder, "Trustee" shall mean each such Person. The term "Trustee" as used
with respect to a particular series of the Securities shall mean the trustee
with respect to that series.

                  "Trust Indenture Act" means the Trust Indenture Act of 1939,
as amended, subject to the provisions of Sections 9.01, 9.02, and 10.01, as in
effect at the date of execution of this instrument.

                                        6
<Page>

                  "Trust Securities" means, collectively, Common Securities and
Preferred Securities of an American Equity Trust.

                  "Voting Stock," as applied to stock of any Person, means
shares, interests, participations or other equivalents in the equity interest
(however designated) in such Person having ordinary voting power for the
election of a majority of the directors (or the equivalent) of such Person,
other than shares, interests, participations or other equivalents having such
power only by reason of the occurrence of a contingency.

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

                                   ARTICLE II

                         DESCRIPTION, TERMS, EXECUTION,
                     REGISTRATION AND EXCHANGE OF SECURITIES

                  SECTION 2.01    Designation and Terms of Securities.

                  The aggregate principal amount of Securities that may be
authenticated and delivered under this Indenture is unlimited. The Securities
may be issued in one or more series up to the aggregate principal amount of
Securities of that series from time to time authorized by or pursuant to a Board
Resolution of the Company or pursuant to one or more indentures supplemental
hereto. Prior to the initial issuance of Securities of any series, there shall
be established in or pursuant to a Board Resolution of the Company, and set
forth in an Officers' Certificate of the Company, or established in one or more
indentures supplemental hereto:

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

                       (2)     any limit upon the aggregate principal amount of
          the Securities of that series that 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 that series);

                       (3)     the price or prices at which the Company will
          sell the Securities;

                       (4)     the Stated Maturity of the Securities;

                       (5)     the rate or rates at which the  Securities of the
          series shall bear interest or the manner of calculation of such rate
          or rates, if any;

                       (6)     the date or dates from which such  interest
          shall accrue, the Interest Payment Dates on which such interest will
          be payable or the manner of determination of such Interest Payment
          Dates and the record date for the determination of holders to whom
          interest is payable on any such Interest Payment Dates;

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

                                        7
<Page>

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

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

                       (10)    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;

                       (11)    the obligation, if any, of the Company to redeem,
          repay or purchase Securities of the series pursuant to any sinking
          fund or analogous provisions (including payments made in cash in
          participation of future sinking fund obligations) 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, repaid or purchased, in whole or in
          part, pursuant to such obligation;

                       (12)    if other than denominations of one thousand U.S.
          dollars ($1,000) or any integral multiple thereof, the denominations
          in which the Securities of the series shall be issuable;

                       (13)    if other than the currency of the United States
          of America, the currency, currencies or currency units in which the
          principal of or any premium or interest on any Securities of the
          series shall be payable and the manner of determining the equivalent
          thereof in the currency of the United States of America for any
          purpose, including for purposes of the definition of "Outstanding" in
          Section 1.01;

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

                       (15)    any additions to the Events of Default or the
          Company's covenants provided for with respect to the Securities of
          the series;

                       (16)    if other than by a Board Resolution, the
          manner in which any election by the Company to defease the
          Securities pursuant to Section 13.02 or Section 13.03 shall be
          evidenced;

                       (17)    whether the Securities will be convertible into
          other securities or property of the Company and, if so, the terms and
          conditions upon which such Securities will be so convertible,
          including the conversion price and the conversion period;

                                        8
<Page>

                       (18)    whether the Securities are issuable as a Global
          Security and, in such case, the identity for the Depositary for such
          series and the terms and conditions upon which Global Securities may
          be exchanged for certificated debt securities;

                       (19)    any special tax implications of the Securities of
          the series, including any provisions for Original Issue Discount
          Securities, if offered;

                       (20)    any trustees, authenticating or Paying Agents,
          transfer agents or registrars or other agents with respect to the
          Securities;

                       (21)    any other terms of the series (which terms shall
          not be inconsistent with the provisions of this Indenture, but which
          may modify or delete any provision of this Indenture with respect
          to such series, provided that no such term may modify or delete any
          provision hereof if imposed by the Trust Indenture Act, and provided,
          further that any modification or deletion of the rights, duties or
          immunities of the Trustee hereunder shall have been consented to in
          writing by the Trustee); and

                       (22)    any other terms of the series which may be
          required by or advisable under applicable laws or regulations.

                  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 any such Board Resolution or in any indentures supplemental
hereto.

                  If any of the terms of the series are established by action
taken pursuant to a Board Resolution of the Company, 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 of the Company setting forth the terms of
the series.

                  Securities of any particular series may be issued at various
times, with different dates on which the principal or any installment of
principal is payable, with different rates of interest, if any, or different
methods by which rates of interest may be determined, with different dates on
which such interest may be payable and with different redemption dates.

                  SECTION 2.02    Form of Securities and Trustee's Certificate.

                  The Securities of any series and the Trustee's certificate of
authentication to be borne by such Securities shall be substantially of the
tenor and purport as set forth in one or more indentures supplemental hereto or
as provided in a Board Resolution of the Company and as set forth in an
Officers' Certificate of the Company and may have such letters, numbers or other
marks of identification or designation and such legends or endorsements printed,
lithographed or engraved thereon as the Company may deem appropriate and as are
not inconsistent with the provisions of this Indenture, or as may be required to
comply with any law or with any rule or regulation made pursuant thereto or with
any rule or regulation of any stock exchange on which Securities of that series
may be listed, or to conform to usage.

                                        9
<Page>

                  SECTION 2.03    Denominations; Provisions for Payment.

                  The Securities shall be issuable as registered Securities and
in the denominations of one thousand U.S. dollars ($1,000) or any integral
multiple thereof, subject to Section 2.01(12). The Securities of a particular
series shall bear interest payable on the dates and at the rate specified with
respect to that series. Unless otherwise provided pursuant to Section 2.01, the
principal of and the interest on the Securities of any series, as well as any
premium thereon in case of redemption thereof prior to maturity, shall be
payable in the coin or currency of the United States of America that at the time
is legal tender for public and private debt, at the office or agency of the
Company maintained for that purpose in the Place of Payment. Each Security shall
be dated the date of its authentication. Interest on the Securities shall be
computed on the basis of a 360-day year composed of twelve 30-day months.

                  The interest installment on any Security that is payable, and
is punctually paid or duly provided for, on any Interest Payment Date for
Securities of that series shall be paid to the Person in whose name said
Security (or one or more Predecessor Securities) is registered at the close of
business on the regular record date for such interest installment. In the event
that any Security of a particular series or portion thereof is called for
redemption and the redemption date is subsequent to a regular record date with
respect to any Interest Payment Date and prior to such Interest Payment Date,
interest on such Security will be paid upon presentation and surrender of such
Security as provided in Section 3.03.

                  Except as otherwise specified with respect to a series of
Securities in accordance with the provisions of Section 2.01, any interest on
any Security that is payable, but is not punctually paid or duly provided for,
on any Interest Payment Date for Securities of the same series (herein called
"Defaulted Interest") shall forthwith cease to be payable to the registered
holder on the relevant regular record date by virtue of having been such holder;
and such Defaulted Interest shall be paid by the Company, at its election, as
provided in clause (1) or clause (2) below:

                       (1)     The Company may make payment of any Defaulted
          Interest on Securities to the Persons in whose names such Securities
          (or their respective Predecessor Securities) are registered at the
          close of business on a special record date for the payment of such
          Defaulted Interest, which shall be fixed in the following manner: the
          Company shall notify the Trustee in writing of the amount of Defaulted
          Interest proposed to be paid on each such Security 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 not be more than 15 nor 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
          Securityholder at his or her address as it appears in the Security
          Register (as hereinafter defined), 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 mailed as
          aforesaid, such Defaulted Interest shall be paid to the Persons in
          whose names such Securities (or their respective Predecessor
          Securities) are registered on such special record date and shall be no
          longer payable pursuant to the following clause (2).

                                       10
<Page>

                       (2)     The Company may make payment of any Defaulted
          Interest on any Securities 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.

                  Unless otherwise set forth in a Board Resolution of the
Company or one or more indentures supplemental hereto establishing the terms of
any series of Securities pursuant to Section 2.01 hereof, the term "regular
record date" as used in this Section with respect to a series of Securities with
respect to any Interest Payment Date for such series shall mean either the
fifteenth day of the month immediately preceding the month in which an Interest
Payment Date established for such series pursuant to Section 2.01 hereof shall
occur, if such Interest Payment Date is the first day of a month, or the last
day of the month immediately preceding the month in which an Interest Payment
Date established for such series pursuant to Section 2.01 hereof shall occur, if
such Interest Payment Date is the fifteenth day of a month, whether or not such
date is a Business Day.

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

                  SECTION 2.04    Execution and Authentications.

                  The Securities shall be signed on behalf of the Company by its
President, or one of its Vice Presidents, or its Treasurer, or one of its
Assistant Treasurers, or its Secretary, or one of its Assistant Secretaries,
under its corporate seal attested by its Secretary or one of its Assistant
Secretaries. Signatures may be in the form of a manual or facsimile signature.
The Company may use the facsimile signature of any Person who shall have been a
President or Vice President thereof, or of any Person who shall have been a
Secretary or Assistant Secretary thereof, notwithstanding the fact that at the
time the Securities shall be authenticated and delivered or disposed of such
Person shall have ceased to be the President or a Vice President, or the
Secretary or an Assistant Secretary, of the Company. The seal of the Company may
be in the form of a facsimile of such seal and may be impressed, affixed,
imprinted or otherwise reproduced on the Securities. The Securities may contain
such notations, legends or endorsements required by law, stock exchange rule or
usage. Each Security shall be dated the date of its authentication by the
Trustee.

                  A Security shall not be valid until authenticated manually by
an authorized signatory of the Trustee, or by an Authenticating Agent. Such
signature shall be conclusive evidence that the Security so authenticated has
been duly authenticated and delivered hereunder and that the holder is entitled
to the benefits of this Indenture.

                  At any time and from time to time after the execution and
delivery of this Indenture, the Company may deliver Securities of any series
executed by the Company to the Trustee for authentication, together with a
written order of the Company for the authentication and delivery of such
Securities, signed by its President or any Vice President and its Secretary or
any Assistant Secretary, and the Trustee in accordance with such written order
shall authenticate and deliver such Securities.

                  In authenticating such Securities and accepting the additional
responsibilities under this Indenture in relation to such Securities, the
Trustee shall be entitled to receive, and (subject to Section 7.01)

                                       11
<Page>

shall be fully protected in relying upon, an Opinion of Counsel stating that the
form and terms of the Securities have been established in conformity with the
provisions of this Indenture.

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

                  SECTION 2.05    Registration of Transfer and Exchange.

                  (a)   Securities of any series may be exchanged upon
presentation thereof at the office or agency of the Company designated for such
purpose, for other Securities of such series of authorized denominations, and
for a like aggregate principal amount, upon payment of a sum sufficient to cover
any tax or other governmental charge in relation thereto, all as provided in
this Section. In respect of any Securities so surrendered for exchange, the
Company shall execute, the Trustee shall authenticate and such office or agency
shall deliver in exchange therefor the Security or Securities of the same series
that the Securityholder making the exchange shall be entitled to receive,
bearing numbers not contemporaneously outstanding.

                  (b)   The Company shall keep, or cause to be kept, at its
office or agency designated for such purpose, or such other location designated
by the Company a register or registers (herein referred to as the "Security
Register") in which, subject to such reasonable regulations as it may prescribe,
the Company shall register the Securities and the transfers of Securities as in
this Article provided and which at all reasonable times shall be open for
inspection by the Trustee. The registrar for the purpose of registering
Securities and transfer of Securities as herein provided shall be appointed as
authorized by Board Resolution (the "Security Registrar").

                  Upon surrender for transfer of any Security at the office or
agency of the Company designated for such purpose, the Company shall execute,
the Trustee shall authenticate and such office or agency shall deliver in the
name of the transferee or transferees a new Security or Securities of the same
series as the Security presented for a like aggregate principal amount.

                  All Securities presented or surrendered for exchange or
registration of transfer, as provided in this Section, shall be accompanied (if
so required by the Company or the Security Registrar) by a written instrument or
instruments of transfer, in form satisfactory to the Company or the Security
Registrar, duly executed by the registered holder or by such holder's duly
authorized attorney in writing.

                  (c)   No service charge shall be made for any exchange or
registration of transfer of Securities, or issue of new Securities in case of
partial redemption of any series, but the Company may require payment of a sum
sufficient to cover any tax or other governmental charge in relation thereto,
other than exchanges pursuant to Section 2.06, the second paragraph of Section
3.03 and Section 9.04 not involving any transfer.

                  (d)   The Company shall not be required (i) to issue, exchange
or register the transfer of any Securities during a period beginning at the
opening of business 15 days before the day of the mailing of a notice of
redemption of less than all the Outstanding Securities of the same series and
ending at the close of business on the day of such mailing, nor (ii) to register
the transfer of or exchange any Securities of any series or portions thereof
called for redemption. The provisions of this Section 2.05 are, with respect to
any Global Security, subject to Section 2.11 hereof.

                                       12
<Page>

                  SECTION 2.06    Temporary Securities.

                  Pending the preparation of definitive Securities of any
series, the Company may execute, and the Trustee shall authenticate and deliver,
temporary Securities (printed, lithographed or typewritten) of any authorized
denomination. Such temporary Securities shall be substantially in the form of
the definitive Securities in lieu of which they are issued, but with such
omissions, insertions and variations as may be appropriate for temporary
Securities, all as may be determined by the Company. Every temporary Security of
any series shall be executed by the Company and be authenticated by the Trustee
upon the same conditions and in substantially the same manner, and with like
effect, as the definitive Securities of such series. Without unnecessary delay
the Company will execute and will furnish definitive Securities of such series
and thereupon any or all temporary Securities of such series may be surrendered
in exchange therefor (without charge to the holders), at the office or agency of
the Company designated for such purpose, and the Trustee shall authenticate and
such office or agency shall deliver in exchange for such temporary Securities an
equal aggregate principal amount of definitive Securities of such series, unless
the Company advises the Trustee to the effect that definitive Securities need
not be executed and furnished until further notice from the Company. Until so
exchanged, the temporary Securities of such series shall be entitled to the same
benefits under this Indenture as definitive Securities of such series
authenticated and delivered hereunder.

                  SECTION 2.07    Mutilated, Destroyed, Lost or Stolen
Securities.

                  In case any temporary or definitive Security shall become
mutilated or be destroyed, lost or stolen, the Company in its discretion
(subject to the next succeeding sentence) shall execute, and upon the Company's
request the Trustee (subject as aforesaid) may authenticate and deliver, a new
Security of the same series, bearing a number not contemporaneously outstanding,
in exchange and substitution for the mutilated Security, or in lieu of and in
substitution for the Security so destroyed, lost or stolen. In every case the
applicant for a substituted Security shall furnish to the Company and the
Trustee and any agent of the Company or the Trustee such security or indemnity
as may be required by them to indemnify and defend and to save each of them
harmless, and, in every case of destruction, loss or theft, the applicant shall
also furnish to the Company and the Trustee evidence to their satisfaction of
the destruction, loss or theft of the applicant's Security and of the ownership
thereof and in the case of mutilation shall surrender the Security to the
Trustee. The Trustee may authenticate any such substituted Security and deliver
the same upon the written request or authorization of any officer of the
Company. Upon the issuance of any substituted Security, 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. In case any Security that
has matured or is about to mature or has been called for redemption in full
shall become mutilated or be destroyed, lost or stolen, the Company may, instead
of issuing a substitute Security, pay or authorize the payment of the same
(without surrender thereof except in the case of a mutilated Security) if the
applicant for such payment shall furnish to the Company and the Trustee and any
agent of the Company or the Trustee such security or indemnity as they may
require to indemnify and defend and to save them harmless, and, in case of
destruction, loss or theft, evidence to the satisfaction of the Company and the
Trustee of the destruction, loss or theft of such Security and of the ownership
thereof.

                  Every replacement Security issued pursuant to the provisions
of this Section shall constitute an additional contractual obligation of the
Company whether or not the mutilated, destroyed, lost or stolen Security shall
be found at any time, or be enforceable by anyone, and shall be entitled to all
the benefits of (but shall be subject to all of the limitations of rights set
forth in) this Indenture equally and proportionately with any and all other
Securities of the same series duly issued hereunder. All Securities shall be
held and owned upon the express condition that the foregoing provisions are
exclusive with respect to the replacement or payment of mutilated, destroyed,
lost or stolen Securities, and shall

                                       13
<Page>

preclude (to the extent lawful) any and all other rights or remedies,
notwithstanding any law or statute existing or hereafter enacted to the contrary
with respect to the replacement or payment of negotiable instruments or other
securities without their surrender.

                  SECTION 2.08    Cancellation.

                  All Securities surrendered for the purpose of payment,
redemption, exchange or registration of transfer, or for credit against payment
in respect of a sinking or analogous fund, shall, if surrendered to the Company
or any Paying Agent, be delivered to the Trustee for cancellation, or, if
surrendered to the Trustee, shall be canceled by it, and no Securities shall be
issued in lieu thereof except as expressly required or permitted by any of the
provisions of this Indenture. On request of the Company at the time of such
surrender, the Trustee shall deliver to the Company canceled Securities held by
the Trustee. In the absence of such request the Trustee may dispose of canceled
Securities in accordance with its standard procedures and deliver a certificate
of disposition to the Company. If the Company shall otherwise acquire any of the
Securities, however, such acquisition shall not operate as a redemption or
satisfaction of the indebtedness represented by such Securities unless and until
the same are delivered to the Trustee for cancellation.

                  SECTION 2.09    Benefits of Indenture.

                  Nothing in this Indenture or in the Securities, express or
implied, shall give or be construed to give to any Person, other than the
parties hereto and their successors and the holders of the Securities any legal
or equitable right, remedy or claim under or in respect of this Indenture, or
under any covenant, condition or provision herein contained; all such covenants,
conditions and provisions being for the sole benefit of the parties hereto and
their successors and of the holders of the Securities.

                  SECTION 2.10    Authenticating Agent.

                  So long as any of the Securities of any series remain
Outstanding there may be an Authenticating Agent for any or all such series of
Securities which the Trustee shall have the right to appoint. Said
Authenticating Agent shall be authorized to act on behalf of the Trustee to
authenticate Securities of such series issued upon exchange, transfer or partial
redemption thereof, 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. All references in this Indenture to
the authentication of Securities by the Trustee shall be deemed to include
authentication on behalf of the Trustee by an Authenticating Agent for such
series. Each Authenticating Agent shall be acceptable to the Company and shall
be a corporation organized and doing business under the laws of the United
States of America or any State that has a combined capital and surplus, as most
recently reported or determined by it, sufficient under the laws of any
jurisdiction under which it is organized or in which it is doing business to
conduct a trust business, and that is otherwise authorized under such laws to
conduct such business and is subject to supervision or examination by federal or
state authorities. If at any time any Authenticating Agent shall cease to be
eligible in accordance with these provisions, it shall resign immediately.

                  Any corporation into which any 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 the
Authenticating Agent shall be a party, or any corporation succeeding to all or
substantially all of the corporate agency business of any Authenticating Agent,
shall continue to be the Authenticating Agent with respect to all series of
Securities for which it served as Authenticating Agent without the execution or
filing of any paper or any further act on the part of the Trustee or such
Authenticating Agent.

                                       14
<Page>

                  Any Authenticating Agent may at any time, and if it shall
cease to be eligible shall, resign by giving written notice of resignation to
the Trustee and to the Company. The Trustee may at any time (and upon request by
the Company shall) terminate the agency of any Authenticating Agent by giving
written notice of termination to such Authenticating Agent and to the Company.
Upon resignation, termination or cessation of eligibility of any Authenticating
Agent, the Trustee may appoint an eligible successor Authenticating Agent
acceptable to the Company. Any successor Authenticating Agent, upon acceptance
of its appointment hereunder, shall become vested with all the rights, powers
and duties of its predecessor hereunder as if originally named as an
Authenticating Agent pursuant hereto.

                  SECTION 2.11        Global Securities.

                  (a)   If the Company shall establish pursuant to Section 2.01
that the Securities of a particular series are to be issued as a Global
Security, then the Company shall execute and the Trustee shall, in accordance
with Section 2.04, authenticate and deliver, a Global Security that (i) shall
represent, and shall be denominated in an amount equal to the aggregate
principal amount of all of the Outstanding Securities of such series issued and
not yet cancelled, (ii) shall be registered in the name of the Depositary or its
nominee, (iii) shall be delivered by the Trustee to the Depositary or pursuant
to the Depositary's instruction and (iv) shall bear a legend substantially to
the following effect: "Except as otherwise provided in Section 2.11 of the
Indenture, this Security may be transferred, in whole but not in part, only to
another nominee of the Depositary or to a successor Depositary or to a nominee
of such successor Depositary."

                  (b)   Notwithstanding the provisions of Section 2.05, the
Global Security of a series may be transferred, in whole but not in part and in
the manner provided in Section 2.05, only to another nominee of the Depositary
for such series, or to a successor Depositary for such series selected or
approved by the Company or to a nominee of such successor Depositary.

                  (c)   If at any time the Depositary for a series of the
Securities notifies the Company that it is unwilling or unable to continue as
Depositary for such series or if at any time the Depositary for such series
shall no longer be registered as a clearing agency under the Exchange Act or in
good standing under the Exchange Act, or other applicable statute or regulation,
and a successor Depositary for such series is not appointed by the Company
within 90 days after the Company receives such notice or becomes aware of such
condition, as the case may be, this Section 2.11 shall no longer be applicable
to the Securities of such series and the Company will execute, and subject to
Section 2.05, the Trustee will authenticate and deliver the Securities of such
series in definitive registered form without coupons, in authorized
denominations, and in an aggregate principal amount equal to the principal
amount of the Global Security of such series in exchange for such Global
Security. In addition, the Company may at any time determine that the Securities
of any series shall no longer be represented by a Global Security and that the
provisions of this Section 2.11 shall no longer apply to the Securities of such
series. In such event the Company will execute and subject to Section 2.05, the
Trustee, upon receipt of an Officers' Certificate evidencing such determination
by the Company, will authenticate and deliver the Securities of such series in
definitive registered form without coupons, in authorized denominations, and in
an aggregate principal amount equal to the principal amount of the Global
Security of such series in exchange for such Global Security. Upon the exchange
of the Global Security for such Securities in definitive registered form without
coupons, in authorized denominations, the Global Security shall be canceled by
the Trustee. Such Securities in definitive registered form issued in exchange
for the Global Security pursuant to this Section 2.11(c) shall be registered in
such names and in such authorized denominations as the Depositary, pursuant to
instructions from its direct or indirect participants or otherwise, shall
instruct the Trustee. The Trustee shall deliver such Securities to the
Depositary for delivery to the Persons in whose names such Securities are so
registered.

                                       15
<Page>

                  SECTION 2.12    CUSIP Numbers.

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

                                   ARTICLE III

              REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS

                  SECTION 3.01    Redemption.

                  The Company may redeem the Securities of any series issued
hereunder on and after the dates and in accordance with the terms established
for such series pursuant to Section 2.01 hereof.

                  SECTION 3.02    Notice of Redemption.

                  (a)   In case the Company shall desire to exercise such right
to redeem all or, as the case may be, a portion of the Securities of any series
in accordance with the right reserved so to do, the Company shall, or shall
cause the Trustee to, give notice of such redemption to holders of the
Securities of such series to be redeemed by mailing, first class postage
prepaid, a notice of such redemption not less than 30 days and not more than 90
days before the date fixed for redemption of that series to such holders at
their last addresses as they shall appear upon the Security Register unless a
shorter period is specified in the Securities to be redeemed. Any notice that is
mailed in the manner herein provided shall be conclusively presumed to have been
duly given, whether or not the registered holder receives the notice. In any
case, failure duly to give such notice to the holder of any Security of any
series designated for redemption in whole or in part, or any defect in the
notice, shall not affect the validity of the proceedings for the redemption of
any other Securities of such series or any other series. 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 any such restriction.

                  Each such notice of redemption shall specify the date fixed
for redemption and the redemption price at which Securities of that series are
to be redeemed, and shall state that payment of the redemption price of such
Securities to be redeemed will be made at the office or agency of the Company
specified therein, upon presentation and surrender of such Securities, that
interest accrued to the date fixed for redemption will be paid as specified in
said notice, that from and after said date interest will cease to accrue and
that the redemption is for a sinking fund, if such is the case. If less than all
the Securities of a series are to be redeemed, the notice to the holders of
Securities of that series to be redeemed in whole or in part shall specify the
particular Securities to be so redeemed. In case any Security is to be redeemed
in part only, the notice that relates to such Security shall state the portion
of the principal amount thereof to be redeemed, and shall state that on and
after the redemption date, upon surrender of such Security, a new Security or
Securities of such series in principal amount equal to the unredeemed portion
thereof will be issued.

                  (b)   If less than all the Securities of a series are to be
redeemed, the Company shall give the Trustee at least 45 days' notice in advance
of the date fixed for redemption as to the aggregate

                                       16
<Page>

principal amount of Securities of the series to be redeemed, and thereupon the
Trustee shall select, by lot or in such other manner as it shall deem
appropriate and fair in its discretion and that may provide for the selection of
a portion or portions (equal to the minimum authorized denomination for
Securities of such series or any integral multiple thereof) of the principal
amount of such Securities of a denomination larger than the minimum authorized
denomination for Securities of such series, the Securities to be redeemed and
shall thereafter promptly notify the Company in writing of the numbers of the
Securities to be redeemed, in whole or in part.

                  The Company may, if and whenever it shall so elect, by
delivery of instructions signed on its behalf by its President or any Vice
President, instruct the Trustee or any Paying Agent to call all or any part of
the Securities of a particular series for redemption and to give notice of
redemption in the manner set forth in this Section, such notice to be in the
name of the Company or its own name as the Trustee or such Paying Agent may deem
advisable. In any case in which notice of redemption is to be given by the
Trustee or any such Paying Agent, the Company shall deliver or cause to be
delivered to, or permit to remain with, the Trustee or such Paying Agent, as the
case may be, such Security Register, transfer books or other records, or
suitable copies or extracts therefrom, sufficient to enable the Trustee or such
Paying Agent to give any notice by mail that may be required under the
provisions of this Section.

                  SECTION 3.03    Payment Upon Redemption.

                  (a)   If the giving of notice of redemption shall have been
completed as above provided, the Securities or portions of Securities of the
series to be redeemed specified in such notice shall become due and payable on
the date and at the place stated in such notice at the applicable redemption
price, together with interest accrued to the date fixed for redemption and
interest on such Securities or portions of Securities shall cease to accrue on
and after the date fixed for redemption, unless the Company shall default in the
payment of such redemption price and accrued interest with respect to any such
Security or portion thereof and except as provided in Sections 4.03 and 7.05,
such Securities shall cease from and after the date fixed for redemption to be
entitled to any benefit or security under this Indenture, and the holders
thereof shall have no right in respect of such Securities except the right to
receive the redemption price thereof and unpaid interest to the date fixed for
redemption. On presentation and surrender of such Securities on or after the
date fixed for redemption at the place of payment specified in the notice, said
Securities shall be paid and redeemed at the applicable redemption price for
such series, together with interest accrued thereon to the date fixed for
redemption (but if the date fixed for redemption is an interest payment date,
the interest installment payable on such date shall be payable to the registered
holder at the close of business on the applicable record date pursuant to
Section 2.03).

                  (b)   Upon presentation of any Security of such series that is
to be redeemed in part only, the Company shall execute and the Trustee shall
authenticate and the office or agency where the Security is presented shall
deliver to the holder thereof, at the expense of the Company, a new Security of
the same series of authorized denominations in principal amount equal to the
unredeemed portion of the Security so presented.

                  SECTION 3.04    Sinking Fund.

                  The provisions of Sections 3.04, 3.05 and 3.06 shall be
applicable to any sinking fund for the retirement of Securities of a series,
except as otherwise specified as contemplated by Section 2.01 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

                                       17
<Page>

to as an "optional sinking fund payment". The date on which a sinking fund
payment is to be made is herein referred to as the "sinking fund payment date."
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 3.05.
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 3.05    Satisfaction of Sinking Fund Payments with
Securities.

                  The Company (i) may deliver Outstanding Securities of a series
(other than any Securities previously called for redemption) and (ii) may apply
as a credit Securities of a series that 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 such Securities have not been previously so credited. Such
Securities shall be received and credited for such purpose by the Trustee at the
redemption price specified in such Securities for redemption through operation
of the sinking fund and the amount of such sinking fund payment shall be reduced
accordingly.

                  SECTION 3.06    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 the series, the portion
thereof, if any, that is to be satisfied by delivering and crediting Securities
of that series pursuant to Section 3.05 and the basis for such credit and will,
together with such Officers' Certificate, deliver to the Trustee any Securities
to be so delivered. Failure of the Company, on or before any such 60th day, to
deliver such Officers' Certificate and Securities specified in this paragraph,
if any, shall not constitute a default but shall constitute, on and as of such
date, the irrevocable election of the Company (i) that the mandatory sinking
fund payment for such series due on the next succeeding sinking fund payment
date shall be paid entirely in cash without the option to deliver or credit
Securities of such series in respect thereof and (ii) that the Company will make
no optional sinking fund payment with respect to such series as provided in this
Section. 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 3.02 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 3.02. Such notice having been duly given, the
redemption of such Securities shall be made upon the terms and in the manner
stated in Section 3.03.

                  The Trustee shall not redeem or cause to be redeemed any
Securities of a series with sinking fund moneys or give any notice of redemption
of Securities for such series by operation of the sinking fund during the
continuance of a default in payment of interest on such Securities or of any
Event of Default except that, where the giving of notice of redemption of any
Securities shall theretofore have been made, the Trustee shall redeem or cause
to be redeemed such Securities, provided that it shall have received from the
Company a sum sufficient for such redemption. Except as aforesaid, any moneys in
the sinking fund for such series at the time when any such default or Event of
Default shall occur, and any moneys thereafter paid into the sinking fund,
shall, during the continuance of such default or Event of Default, be deemed to
have been collected under Article VI hereof and held for the payment of all such
Securities. In case such Event of Default shall have been waived as provided in
Section 6.08 or the default cured on or before the 60th day preceding the
sinking fund payment date in any year, such moneys shall thereafter be applied
on the next succeeding sinking fund payment date in accordance with this Section
to the redemption of such Securities.

                                       18
<Page>

                                   ARTICLE IV

                                CERTAIN COVENANTS

                  SECTION 4.01    Payment of Principal, Premium and Interest.

                  (a)   The Company shall pay or cause to be paid the principal
of and premium, if any, and interest (including interest accruing during any
Deferral Period on the Securities) on or prior to the dates and in the manner
provided in such Securities or pursuant to this Indenture. An installment of
principal, premium, if any, or interest shall be considered paid on the
applicable due date if on such date the Trustee or the Paying Agent holds, in
accordance with this Indenture, money sufficient to pay all of such installment
then due. The interest on the Securities shall be payable only to or upon the
written order of the holders thereof and, at the option of the Company, may be
paid by wire transfer or by mailing checks for such interest payable to or upon
the written order of such holders at their last address as they shall appear
upon the Security Register.

                  (b)   Notwithstanding the provisions of Section 4.01(a) or any
other provision herein to the contrary, the Company shall have the right, as
provided in an Officer's Certificate or Supplemental Indenture issued pursuant
to Section 2.01, in its sole and absolute discretion at any time and from time
to time while the Securities of any series are outstanding, so long as no Event
of Default with respect to such series of Securities has occurred and is
continuing, to defer payments of interest by extending the interest payment
period for such series of Securities for the maximum consecutive period, if any,
specified for such series of Securities, provided that such Deferral Period (or
any extension thereof) may not extend beyond the Stated Maturity date or
Redemption Date of any Security of such series, and must end on an Interest
Payment Date or, if the Securities are redeemed, on an Interest Payment Date or
the Redemption Date for such Securities, and provided further that at the end of
each Deferral Period the Company shall pay all interest then accrued and unpaid
(together with interest thereon to the extent permitted by applicable law at the
rate accruing on such Securities). Prior to the termination of a Deferral
Period, the Company may shorten or may further extend the interest payment
period for such series of Securities, provided that such Deferral Period
together with all such previous and further extensions may not exceed the
maximum consecutive period specified for such series of Securities, end on a
date other than an Interest Payment Date or extend beyond the Stated Maturity
date or Redemption Date of any Security of such series. The Company shall give
the Trustee written notice of the Company's election to begin a Deferral Period
for any series of Securities and any shortening or extension thereof at least
five Business Days prior to the earlier of (i) the date the interest on such
Securities or distributions on the related Preferred Securities are payable or
(ii) the date the trustees of an American Equity Trust are required to give
notice to holders of Preferred Securities of such American Equity Trust of the
record date or the date such distributions are payable, but in any event not
less than five Business Days prior to such record date. The Company shall give
or cause the Trustee to give notice (a form of which shall be provided by the
Company to the Trustee) of the Company's election to begin a Deferral Period to
the Holders by first class mail, postage prepaid.

                  SECTION 4.02    Maintenance of Office or Agency.

                  So long as any series of the Securities remain Outstanding,
the Company agrees to maintain an office or agency in each Place of Payment,
with respect to each such series and at such other location or locations as may
be designated as provided in this Section 4.02, where (i) Securities of that
series may be presented for payment, (ii) Securities of that series may be
presented as hereinabove authorized for registration of transfer and exchange,
and (iii) notices and demands to or upon the Company in respect of the
Securities of that series and this Indenture may be given or served, such
designation to continue with respect to such office or agency until the Company
shall, by written notice

                                       19
<Page>

signed by its President or a Vice President and delivered to the Trustee,
designate some other office or agency for such purposes or any of them. 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, 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, notices and demands.

                  The Company may also from time to time designate one or more
other offices or agencies where the Securities of one or more series may be
presented or surrendered for any or all such purposes and may from time to time
rescind such designations, as the Company may deem desirable or expedient;
provided, however, that no such designation or rescission shall in any manner
relieve the Company of its obligation to maintain an office or agency in each
Place of Payment for Securities of any series for such purposes. The Company
will give prompt written notice to the Trustee of any such designation or
rescission and of any change in the location of any such other office or agency.

                  SECTION 4.03    Paying Agents.

                  (a)   If the Company shall appoint one or more Paying Agents
for all or any series of the Securities, other than the Trustee, the Company
will cause each such Paying Agent to execute and deliver to the Trustee an
instrument in which such agent shall agree with the Trustee, subject to the
provisions of this Section:

                        (1)    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 on the Securities of that series (whether such sums have been
          paid to it by the Company or by any other obligor of such Securities)
          in trust for the benefit of the Persons entitled thereto until such
          sums shall be paid to such Persons or otherwise disposed of as herein
          provided;

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

                        (3)    that it will, at any time during the continuance
          of any failure referred to in the preceding paragraph (a)(2) above,
          upon the written request of the Trustee, forthwith pay to the Trustee
          all sums so held in trust by such Paying Agent; and

                        (4)    that it will perform all other duties of Paying
          Agent as set forth in this Indenture.

                  (b)   If the Company shall act as its own Paying Agent with
respect to any series of the Securities, it will on or before each due date of
the principal of, and premium, if any, or interest on Securities of that 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 on Securities of that series until such sums shall be paid to
such Persons or otherwise disposed of as herein provided and will promptly
notify the Trustee of such action, or any failure (by it or any other obligor on
such Securities) to take such action. Whenever the Company shall have one or
more Paying Agents for any series of Securities, it will, prior to each due date
of the principal of, and premium, if any, or interest on any Securities of that
series, deposit with the Paying Agent a sum sufficient to pay the principal, and
premium, if any, or interest so becoming due, such sum to be held in trust for
the benefit of the Persons entitled to such principal, premium, if any, or
interest, and (unless such Paying Agent is the Trustee) the Company will
promptly notify the Trustee of this action or failure so to act.

                                       20
<Page>

                  (c)   Notwithstanding anything in this Section to the
contrary, (i) the agreement to hold sums in trust as provided in this Section is
subject to the provisions of Section 11.04, and (ii) 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 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 terms and conditions 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.

                  (d)   Except as otherwise specified with respect to a series
of Securities in accordance with the provisions of Section 2.01, any money or
Government Obligations deposited with the Trustee or any Paying Agent, or then
held by the Company, in trust for the payment of the principal of or any premium
or interest on any Security of any series and remaining unclaimed for two years
after such principal, premium, if any, or interest has become due and payable
shall be paid to the Company at its option at the request of the Company, 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 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 4.04    Statement by Officers as to Default.

                  The Company will deliver to the Trustee, within 120 days after
the end of each fiscal year of the Company ending after the date hereof, an
Officers' Certificate, stating whether or not to the best knowledge of the
signers thereof the Company is in default in the performance and observance of
any of the terms, provisions and conditions of this Indenture (without regard to
any period of grace or requirement of notice provided hereunder) and, if the
Company shall be in default, specifying all such defaults and the nature and
status thereof of which they may have knowledge.

                  SECTION 4.05    Existence.

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

                  SECTION 4.06    Payment of Taxes.

                  The Company will pay or discharge or cause to be paid or
discharged, before the same shall become delinquent, all taxes, assessments and
governmental charges levied or imposed upon the Company or any Subsidiary or
upon the income, profits or property of the Company or any Subsidiary, which, if
unpaid, might by law become a lien upon the property of the Company or any
Subsidiary; provided, however, that the Company shall not be required to pay or
discharge or cause to be paid or

                                       21
<Page>

discharged any such tax, assessment or governmental charge whose amount,
applicability or validity is being contested in good faith by appropriate
proceedings.

                  SECTION 4.07    Limitations on Disposition of Stock of the
Insurance Subsidiaries.

                  Except in a transaction governed by Article X hereof, so long
as Securities of any series are Outstanding, neither the Company nor any of its
Subsidiaries will sell or otherwise dispose of any shares of capital stock
(other than preferred stock having no voting rights of any kind) of either
Insurance Subsidiary, or of any such successor to substantially all of the
business of either Insurance Subsidiary which is also a Subsidiary of the
Company, or of any corporation (other than the Company) having direct or
indirect control of either Insurance Subsidiary or any such successor.
Notwithstanding the foregoing, the Company may sell or otherwise dispose of
shares of capital stock of either Insurance Subdidiary (i) to any direct or
indirect wholly owned subsidiary of the Company, (ii) if such shares constitute
directors' qualifying shares, (iii) for at least fair value (as determined by
the Company's Board of Directors acting in good faith) or (iv) to comply with an
order of a court or regulatory authority of competent jurisdiction, other than
an order issued at the Company's request or the request of any of the Company's
Subsidiaries.

                  SECTION 4.08    Waiver of Certain Covenants.

                  Except as otherwise specified as contemplated by Section 2.01
for Securities of such series, the Company may, with respect to the Securities
of any series, omit in any particular instance to comply with any term,
provision or condition set forth in any covenant provided pursuant to Sections
2.01(15), 9.01(3) or 9.01(6) for the benefit of the holders of such series or in
any of Sections 4.06 and 4.07,

                                       22
<Page>

if before the time for such compliance the holders of at least a majority in
aggregate principal amount of the Outstanding Securities of such series shall,
by act of such holders, either waive such compliance in such instance or
generally waive compliance with such term, provision or condition, but no such
waiver shall extend to or affect such term, provision or condition except to the
extent so expressly waived, and, until such waiver shall become effective, the
obligations of the Company and the duties of the Trustee in respect of any such
term, provision or condition shall remain in full force and effect.

                  SECTION 4.09    Appointment to Fill Vacancy in Office of
Trustee.

                  The Company, whenever necessary to avoid or fill a vacancy in
the office of Trustee, will appoint, in the manner provided in Section 7.10, a
Trustee, so that there shall at all times be a Trustee hereunder.

                  SECTION 4.10    Compliance with Consolidation Provisions.

                  The Company will not, while any of the Securities remain
Outstanding, consolidate with, or merge into, or merge into itself, or sell or
convey all or substantially all of its property to any other company unless the
provisions of Article X hereof are complied with.

                                    ARTICLE V

                       SECURITYHOLDERS' LISTS AND REPORTS
                         BY THE COMPANY AND THE TRUSTEE

                  SECTION 5.01    Company to Furnish Trustee Names and Addresses
of Securityholders.

                  The Company will furnish or cause to be furnished to the
Trustee (a) on a monthly basis not more than 5 days after each regular record
date a list, in such form as the Trustee may reasonably require, of the names
and addresses of the holders of each series of Securities as of such regular
record date, provided that the Company shall not be obligated to furnish or
cause to furnish such list at any time that the list shall not differ in any
respect from the most recent list furnished to the Trustee by the Company 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; provided, however, that, in either case, no such list need be
furnished for any series for which the Trustee shall be the Security Registrar.

                  SECTION 5.02    Preservation Of Information; Communications
With Securityholders.

                  (a)   The Trustee shall preserve, in as current a form as is
reasonably practicable, all information as to the names and addresses of the
holders of Securities contained in the most recent list furnished to it as
provided in Section 5.01 and as to the names and addresses of holders of
Securities received by the Trustee in its capacity as Security Registrar (if
acting in such capacity).

                  (b)   The Trustee may destroy any list furnished to it as
provided in Section 5.01 upon receipt of a new list so furnished.

                  (c)   Securityholders may communicate as provided in Section
312(b) of the Trust Indenture Act with other Securityholders with respect to
their rights under this Indenture or under the Securities.

                                       23
<Page>

                  (d)   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 any 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 Sections 5.01 and 5.02(c), 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 5.02(c).

                  SECTION 5.03    Reports by the Company.

                  (a)   The Company covenants and agrees to 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) that the
Company may be required to file with the Commission pursuant to Section 13 or
Section 15(d) of the Exchange Act; or, if the Company is not required to file
information, documents or reports pursuant to either of such sections, then to
file with the Trustee and the Commission, in accordance with the rules and
regulations prescribed from time to time by the Commission, such of the
supplementary and periodic information, documents and reports that may be
required pursuant to Section 13 of the Exchange Act, 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)   The Company covenants and agrees to file with the
Trustee and the Commission, in accordance with the rules and regulations
prescribed from to time by the Commission, such additional information,
documents and reports with respect to compliance by the Company with the
conditions and covenants provided for in this Indenture as may be required from
time to time by such rules and regulations.

                  (c)   The Company covenants and agrees to transmit to the
Securityholders such summaries of any information, documents and reports
required to be filed by the Company pursuant to subsections (a) and (b) of this
Section as may be required by the Trust Indenture Act and the rules and
regulations prescribed from time to time by the Commission.

                  SECTION 5.04    Reports by the Trustee.

                  (a)   On or before July 15 in each year in which any of the
Securities are Outstanding, the Trustee shall transmit by mail, first class
postage prepaid, to the Securityholders, as their names and addresses appear
upon the Security Register, a brief report dated as of the preceding May 15, if
and to the extent required under Section 313(a) of the Trust Indenture Act.

                  (b)   The Trustee shall comply with Sections 313(b) and 313(c)
of the Trust Indenture Act.

                  (c)   A copy of each such report shall, at the time of such
transmission to Securityholders be filed by the Trustee with the Company, with
each stock exchange upon which any Securities are listed (if so listed) and also
with the Commission. The Company agrees to notify the Trustee when any
Securities become listed on any stock exchange.

                                   ARTICLE VI

                   REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS
                               ON EVENT OF DEFAULT

                                       24
<Page>

                  SECTION 6.01    Events of Default.

                  (a)   Whenever used herein with respect to Securities of a
particular series, "Event of Default" means any one or more of the following
events that has occurred and is continuing:

                        (1)    the Company defaults in the payment of any
          installment of interest upon any of the Securities of that series, as
          and when the same shall become due and payable, and continuance of
          such default for a period of 30 days; provided, however, that during
          any Deferral Period for the Securities of that series, failure to pay
          interest on the Securities of that series shall not constitute a
          default in the payment of interest for this purpose; and, provided,
          further, that a valid extension of an interest payment period by the
          Company in accordance with the terms of any indenture supplemental
          hereto, shall not constitute a default in the payment of interest for
          this purpose;

                        (2)    the Company defaults in the payment of the
          principal of, or premium, if any, on any of the Securities of that
          series as and when the same shall become due and payable whether at
          maturity, upon redemption, because of acceleration or otherwise, or in
          any payment required by any sinking or analogous fund established with
          respect to that series; provided, however, that a valid extension of
          the maturity of such Securities in accordance with the terms of any
          indenture supplemental hereto shall not constitute a default in the
          payment of principal or premium, if any;

                        (3)    the Company fails to observe or perform any other
          of its covenants or agreements with respect to that series contained
          in this Indenture or otherwise established with respect to that series
          of Securities pursuant to Section 2.01 hereof (other than a covenant
          or agreement that (i) has been expressly included in this Indenture
          solely for the benefit of one or more series of Securities other than
          such series or (ii) a default in the performance or breach of which is
          elsewhere in this Section specifically dealt with) for a period of 90
          days after the date on which written notice of such failure, requiring
          the same to be remedied and stating that such notice is a "Notice of
          Default" hereunder, shall have been given to the Company by the
          Trustee, by registered or certified mail, or to the Company and the
          Trustee by the holders of at least 25% in aggregate principal amount
          of the Securities of that series at the time Outstanding;

                        (4)    an event of default, as defined in any mortgage,
          indenture or instrument under which there may be issued, or by which
          there may be secured or evidenced, any Indebtedness for money borrowed
          of the Company (other than a default under this Indenture with respect
          to Securities of any series or a default with respect to any
          non-recourse Indebtedness), whether such Indebtedness now exists or
          shall hereafter be created, shall happen and shall result in a
          principal amount in excess of $50,000,000 of Indebtedness becoming or
          being declared due and payable prior to the date on which it would
          otherwise have become due and payable, and such acceleration shall not
          have been rescinded or annulled, or such Indebtedness shall not have
          been discharged, within a period of 15 days after there has been
          given, by registered or certified United States mail, return receipt
          requested, to the Company by the Trustee or to the Company and the
          Trustee by the holders of at least 25% in aggregate principal amount
          of the Outstanding Securities of that series a written notice
          specifying such event of default and requiring the Company to cause
          such acceleration to be rescinded or annulled or to cause such
          Indebtedness to be discharged and stating that such notice is a
          "Notice of Default" hereunder;

                                       25
<Page>

                        (5)    the entry by a court of competent jurisdiction
          of:

                               (i)     a decree or order for relief in respect
                      of the Company in an involuntary proceeding under any
                      applicable Bankruptcy Law and such decree or order shall
                      remain unstayed and in effect for a period of 120
                      consecutive days;

                               (ii)    a decree or order adjudging the Company
                      to be insolvent, or approving a petition seeking
                      reorganization, arrangement, adjustment or composition of
                      the Company and such decree or order shall remain unstayed
                      and in effect for a period of 120 consecutive days; or

                               (iii)   a final and non-appealable order
                      appointing a Custodian of the Company or of any
                      substantial part of the property of the Company, or
                      ordering the winding up or liquidation of the affairs of
                      the Company;

                      (6)      the Company pursuant to or within the meaning of
          any Bankruptcy Law: (i) commences a voluntary case or proceeding; (ii)
          consents to the entry of an order for relief against it in an
          involuntary case or proceeding; (iii) files a petition or answer or
          consent seeking reorganization or relief or consents to such filing or
          to the appointment of or taking possession by a Custodian of it or for
          all or substantially all of its property, and such Custodian is not
          discharged within 120 days; (iv) makes a general assignment for the
          benefit of its creditors; or (v) admits in writing its inability to
          pay its debts generally as they become due; or

                      (7)      any other Event of Default provided for pursuant
          to Section 2.01 with respect to Securities of that series.

                  (b)   If an Event of Default (other than an Event of
Default specified in Sections 6.01(a)(5) or 6.01(a)(6)) with respect to
Securities of any series at the time Outstanding occurs and is continuing,
either the Trustee or the holders of not less than 25% in aggregate principal
amount of the Securities of that series then Outstanding hereunder (voting as
a single class), by notice in writing to the Company (and to the Trustee if
given by such Securityholders), may declare the principal of all the
Securities of that series (or, if any Securities of that series are Original
Issue Discount Securities, such portion of the principal amount as may be
specified in the terms of such series) to be due and payable immediately, and
upon any such declaration the same shall become and shall be immediately due
and payable. If an Event of Default specified in Sections 6.01(a)(5) or
6.01(a)(6) with respect to Securities of any series at the time Outstanding
occurs, the principal amount of all the Securities of that series (or, if any
Securities of that series are Original Issue Discount Securities, such
portion of the principal amount of such Securities as may be specified by the
terms thereof) and the interest accrued thereon, if any, shall automatically,
and without any declaration or other action on the part of the Trustee or any
holder, become immediately due and payable.

                  (c)   At any time after the principal of the Securities of
that series shall have been so declared due and payable, and before any judgment
or decree for the payment of the moneys due shall have been obtained or entered
as hereinafter provided, the holders of a majority in aggregate principal amount
of the Securities of that series then Outstanding hereunder (voting as a single
class), by written notice to the Company and the Trustee, may rescind and annul
such declaration and its consequences if: (i) the Company has paid or deposited
with the Trustee a sum sufficient to pay all matured installments of

                                       26
<Page>

interest upon all the Securities of that series and the principal of, and
premium, if any, on any and all Securities of that series that shall have become
due otherwise than by acceleration (with interest upon such principal and
premium, if any, and, to the extent that such payment is enforceable under
applicable law, upon overdue installments of interest, at the rate per annum or
Yield to Maturity (in the case of Original Issue Discount Securities) expressed
in the Securities of that series (or at the respective rates of interest or
Yields to Maturity of all the Securities, as the case may be) to the date of
such payment or deposit) and the amount payable to the Trustee under Section
7.06, and (ii) any and all Events of Default under the Indenture with respect to
such series, other than the nonpayment of principal on Securities of that series
(or, if any Securities of that series are Original Issue Discount Securities,
such portion of the principal amount as may be specified in the terms of such
series) that shall not have become due by their terms, shall have been remedied
or waived as provided in Section 6.08.

                  No such rescission and annulment shall extend to or shall
affect any subsequent default or impair any right consequent thereon.

                  (d)   In case the Trustee shall have proceeded to enforce any
right with respect to Securities of that series under this Indenture and such
proceedings shall have been discontinued or abandoned because of such rescission
or annulment or for any other reason or shall have been determined adversely to
the Trustee, then and in every such case the Company, and the Trustee shall be
restored respectively to their former positions and rights hereunder, and all
rights, remedies and powers of the Company and the Trustee shall continue as
though no such proceedings had been taken.

                  SECTION 6.02    Collection of Indebtedness and Suits for
Enforcement by Trustee.

                  (a)   The Company covenants that (1) in case it shall default
in the payment of any installment of interest on any of the Securities of a
series as and when the same shall have become due and payable, and such default
shall have continued for a period of 30 days, or (2) in case it shall default in
the payment of the principal of, or premium, if any, on any of the Securities of
a series when the same shall have become due and payable, whether upon maturity
of the Securities of a series or upon redemption or upon declaration or
otherwise, then, upon demand of the Trustee, the Company will pay to the
Trustee, for the benefit of the holders of the Securities of that series, the
whole amount that then shall have been become due and payable on all such
Securities for principal, and premium, if any, or interest, or both, as the case
may be, with interest upon the overdue principal, and premium, if any, and (to
the extent that payment of such interest is enforceable under applicable law)
upon overdue installments of interest at the rate per annum or Yield to Maturity
(in the case of Original Issue Discount Securities) expressed in the Securities
of that series; and, in addition thereto, such further amount as shall be
sufficient to cover the costs and expenses of collection, and the amount payable
to the Trustee under Section 7.06.

                  (b)   If the Company shall fail to pay such amounts forthwith
upon such demand, the Trustee, in its own name and as trustee of an express
trust, shall be entitled and empowered to institute any action or proceedings at
law or in equity for the collection of the sums so due and unpaid, and may
prosecute any such action or proceeding to judgment or final decree, and may
enforce any such judgment or final decree against the Company or other obligor
upon the Securities of that series and collect the moneys adjudged or decreed to
be payable in the manner provided by law out of the property of the Company or
other obligor upon the Securities of that series, wherever situated.

                  (c)   In case of any receivership, insolvency, liquidation,
bankruptcy, reorganization, readjustment, arrangement, composition or judicial
proceedings affecting the Company, or its creditors or property, the Trustee
shall have power to intervene in such proceedings and take any action therein
that may be permitted by the court and shall (except as may be otherwise
provided by law) be entitled to file

                                       27
<Page>

such proofs of claim and other papers and documents as may be necessary or
advisable in order to have the claims of the Trustee and of the holders of
Securities of such series allowed for the entire amount due and payable by the
Company under the Indenture at the date of institution of such proceedings and
for any additional amount that may become due and payable by the Company after
such date, and to collect and receive any moneys or other property payable or
deliverable on any such claim, and to distribute the same after the deduction of
the amount payable to the Trustee under Section 7.06; and any receiver, assignee
or trustee in bankruptcy or reorganization is hereby authorized by each of the
holders of Securities of such series to make such payments to the Trustee, and,
in the event that the Trustee shall consent to the making of such payments
directly to such Securityholders, to pay to the Trustee any amount due it under
Section 7.06.

                  (d)   All rights of action and of asserting claims under this
Indenture, or under any of the terms established with respect to Securities of
that series, may be enforced by the Trustee without the possession of any of
such Securities, or the production thereof at any trial or other proceeding
relative thereto, and any such suit or 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 payment to the Trustee of any
amounts due under Section 7.06, be for the ratable benefit of the holders of the
Securities of such series.

                  In case of an Event of Default hereunder, the Trustee may in
its discretion proceed to protect and enforce the rights vested in it by this
Indenture by such appropriate judicial proceedings as the Trustee shall deem
most effectual to protect and enforce any of such rights, either at law or in
equity or in bankruptcy or otherwise, whether for the specific enforcement of
any covenant or agreement contained in the Indenture or in aid of the exercise
of any power granted in this Indenture, or to enforce any other legal or
equitable right vested in the Trustee by this Indenture or by law.

                  Nothing contained herein shall be deemed to authorize the
Trustee to authorize or consent to or accept or adopt on behalf of any
Securityholder any plan of reorganization, arrangement, adjustment or
composition affecting the Securities of that series or the rights of any holder
thereof or to authorize the Trustee to vote in respect of the claim of any
Securityholder in any such proceeding.

                  SECTION 6.03    Application of Moneys Collected.

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

                  FIRST: To the payment of costs and expenses of collection and
          of all amounts payable to the Trustee under Section 7.06;

                  SECOND: To the payment of the amounts then due and unpaid upon
          Securities of such series for principal, and premium, if any, and
          interest, 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; and

                  THIRD: To the payment of the remainder, if any, to the
          Company, its successors or assigns or to whomever may be lawfully
          entitled to receive the same or as a court of competent jurisdiction
          may direct.

                  SECTION 6.04    Limitation on Suits.

                                       28
<Page>

                  No holder of any Security of any series shall have any right
by virtue or by availing of any provision of this Indenture to institute any
suit, action or proceeding in equity or at law or in bankruptcy or otherwise
upon or under or with respect to this Indenture or for the appointment of a
receiver, trustee, liquidator, custodian or other similar official or for any
other remedy hereunder, unless (i) such holder previously shall have given to
the Trustee written notice of an Event of Default and of the continuance thereof
with respect to the Securities of such series specifying such Event of Default,
as hereinbefore provided; (ii) the holders of not less than 25% in aggregate
principal amount of the Securities of such series then Outstanding shall have
made written request upon the Trustee to institute such action, suit or
proceeding in its own name as trustee hereunder; (iii) such holder or holders
shall have offered to the Trustee such reasonable indemnity as it may require
against the costs, expenses and liabilities to be incurred therein or thereby;
and (iv) the Trustee for 60 days after its receipt of such notice, request and
offer of indemnity, shall have failed to institute any such action, suit or
proceeding and (v) during such 60 day period, the holders of a majority in
aggregate principal amount of the Securities of that series do not give the
Trustee a direction inconsistent with the request.

                  Notwithstanding anything contained herein to the contrary, any
other provisions of this Indenture, the right of any holder of any Security to
receive payment of the principal of, and premium, if any, and interest on such
Security, as therein provided, on or after the respective due dates expressed in
such Security (or in the case of redemption, on the redemption date), or to
institute suit for the enforcement of any such payment on or after such
respective dates or redemption date, shall not be impaired or affected without
the consent of such holder and by accepting a Security hereunder it is expressly
understood, intended and covenanted by the taker and holder of every Security of
such series with every other such taker and holder and the Trustee, that no one
or more holders of Securities of such series shall have any right in any manner
whatsoever by virtue or by availing of any provision of this Indenture to
affect, disturb or prejudice the rights of the holders of any other of such
Securities, or to obtain or seek to obtain priority over or preference to any
other such holder, or to enforce any right under this Indenture, except in the
manner herein provided and for the equal, ratable and common benefit of all
holders of Securities of such series. For the protection and enforcement of the
provisions of this Section, each and every Securityholder and the Trustee shall
be entitled to such relief as can be given either at law or in equity.

                  SECTION 6.05    Rights and Remedies Cumulative; Delay or
Omission Not Waiver.

                  (a)   Except as otherwise provided in Section 2.07, all powers
and remedies given by this Article to the Trustee or to the Securityholders
shall, to the extent permitted by law, be deemed cumulative and not exclusive of
any other powers and remedies available to the Trustee or the holders of the
Securities, by judicial proceedings or otherwise, to enforce the performance or
observance of the covenants and agreements contained in this Indenture or
otherwise established with respect to such Securities.

                  (b)   No delay or omission of the Trustee or of any holder of
any of the Securities to exercise any right or power accruing upon any Event of
Default occurring and continuing as aforesaid shall impair any such right or
power, or shall be construed to be a waiver of any such default or on
acquiescence therein; and, subject to the provisions of Section 6.04, every
power and remedy given by this Article or by law to the Trustee or the
Securityholders may be exercised from time to time, and as often as shall be
deemed expedient, by the Trustee or by the Securityholders.

                  SECTION 6.06    Control by Securityholders.

                  The holders of a majority in aggregate principal amount of the
Securities of any series at the time Outstanding (treated as a single class),
determined in accordance with Section 8.04, shall have

                                       29
<Page>

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 such series; provided, however, that such
direction shall not be in conflict with any rule of law or with this Indenture
or be unduly prejudicial to the rights of holders of Securities of any other
series at the time Outstanding determined in accordance with Section 8.04.
Subject to the provisions of Section 7.01, the Trustee shall have the right to
decline to follow any such direction if the Trustee in good faith shall, by a
Responsible Officer or Officers of the Trustee, determine that the proceeding so
directed would involve the Trustee in personal liability.

                  SECTION 6.07    Undertaking to Pay Costs.

                  All parties to this Indenture agree, and each holder of any
Securities by such holder's 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 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 and expenses, 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 Trustee, to any suit instituted by any Securityholder, or
group of Securityholders, holding more than 10% in aggregate principal amount of
the Outstanding Securities of any series, or to any suit instituted by any
Securityholder for the enforcement of the payment of the principal of, or
premium, if any, or interest on any Security of such series, on or after the
respective due dates expressed in such Security or established pursuant to this
Indenture.

                  SECTION 6.08    Waiver of Past Defaults.

                  The holders of not less than a majority in aggregate principal
amount of the Outstanding Securities of any series (voting as a single class),
determined in accordance with Section 8.04, may on behalf of the holders of all
the Securities of such series waive any past default hereunder with respect to
such series and its consequences, except a default

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

                        (2)    in respect of a covenant or provision hereof
          which under Article IX cannot be modified or amended without the
          consent of the holder of each Outstanding Security of such series
          affected; provided, however, that if the Securities of such series are
          held by an American Equity Trust or a trustee of such trust, such
          waiver or modification to such waiver shall not be effective until the
          holders of a majority in liquidation preference of Trust Securities of
          the applicable American Equity Trust shall have consented to such
          waiver or modification to such waiver; provided, further, that if the
          consent of the holder of each outstanding Security is required, such
          waiver shall not be effective until each holder of the Trust
          Securities of the applicable American Equity Trust shall have
          consented to such waiver.

                  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.

                                       30
<Page>

                  SECTION 6.09    Trustee to Give Notice of Default.

                  (a)   The Trustee shall, within 90 days after the occurrence
of a default with respect to the Securities of any series, give notice of all
defaults with respect to that series known to the Trustee to all holders of
Securities of such series in the manner and to the extent provided in Section
313(c) of the Trust Indenture Act of 1939, unless in each case such defaults
shall have been cured before the mailing of such notice (the term "defaults" for
the purpose of this Section being hereby defined to mean any event or condition
which is, or with notice or lapse of time or both would become, an Event of
Default); provided that, except in the case of a default in the payment of the
principal of, premium, if any, or interest on ay of the Securities of such
series, or in the payment of any sinking fund installment on such series, the
Trustee shall be protected in withholding such notice if and so long as the
Trustee in good faith shall, by a Responsible Officer or Officers of the
Trustee, determine that withholding of such notice is in the interests of the
Securityholders of such series.

                  (b)   The Trustee shall not be deemed to have knowledge of
any default except:

                        (1)   a default under Section 6.01(a)(1) or 6.01(a)(2),
                  provided that the Trustee is also the Paying Agent; or

                        (2)   any default as to which the Trustee shall have
                  received written notice of or which Responsible Officer
                  charged with the administration of this Indenture shall have
                  actual knowledge.

                                   ARTICLE VII

                             CONCERNING THE TRUSTEE

                  SECTION 7.01    Certain Duties and Responsibilities of
Trustee.

                  (a)   The Trustee, prior to the occurrence of an Event of
Default with respect to the Securities of a series and after the curing or
waiving of all Events of Default with respect to the Securities of that series
that may have occurred, shall undertake to perform with respect to the
Securities of such series such duties and only such duties as are specifically
set forth in this Indenture, and no implied covenants shall be read into this
Indenture against the Trustee. In case an Event of Default with respect to the
Securities of a series has occurred (that has not been cured or waived), the
Trustee shall exercise with respect to Securities of that series 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.

                  (b)   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 willful misconduct, except that:

                        (1)    prior to the occurrence of an Event of Default
          with respect to the Securities of a series and after the curing or
          waiving of all such Events of Default with respect to that series that
          may have occurred:

                               (a)     the duties and obligations of the
                  Trustee shall with respect to the Securities of such series be
                  determined solely by the express provisions of this Indenture,
                  and the Trustee shall not be liable with respect to the
                  Securities of such series except for the performance of such
                  duties and obligations as are specifically set forth in this
                  Indenture, and no implied covenants or obligations shall be
                  read into this Indenture against the Trustee; and

                               (b)     in the absence of bad faith on the part
                  of the Trustee, the Trustee may with respect to the Securities
                  of such series conclusively rely, as to the truth of the
                  statements and the correctness of the opinions expressed
                  therein, upon any 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 that by
                  any provision hereof are specifically required to be furnished
                  to the Trustee,

                                       31
<Page>

                  the Trustee shall be under a duty to examine the same to
                  determine whether or not they conform to the requirements of
                  this Indenture;

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

                        (3)    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 not less than a
          majority in principal amount of the Securities of any series at the
          time Outstanding 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 that series; and

                        (4)    None of the provisions contained in this
          Indenture shall require the Trustee to expend or risk its own funds or
          otherwise incur personal financial liability in the performance of any
          of its duties or in the exercise of any of its rights or powers, if
          there is reasonable ground for believing that the repayment of such
          funds or liability is not reasonably assured to it under the terms of
          this Indenture or adequate indemnity against such risk is not
          reasonably assured to it.

                  SECTION 7.02    Certain Rights of Trustee.

                  Except as otherwise provided in Section 7.01:

                  (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, consent, order, approval, bond, security 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, direction, order or demand of the Company
mentioned herein shall be sufficiently evidenced by a Board Resolution or an
instrument signed in the name of the Company, by the President or any Vice
President and by the Secretary or an Assistant Secretary or the Treasurer or an
Assistant Treasurer thereof (unless other evidence in respect thereof is
specifically prescribed herein);

                  (c)   The Trustee may consult with legal counsel and the
written advice of such counsel or any Opinion of Counsel with respect to legal
matters shall be full and complete authorization and protection in respect of
any action taken or suffered or omitted hereunder in good faith and in
accordance and reliance thereon;

                  (d)   The Trustee shall be under no obligation to exercise any
of the rights or powers vested in it by this Indenture at the request, order or
direction of any of the Securityholders, pursuant to the provisions of this
Indenture, unless such Securityholders shall have offered to the Trustee
reasonable security or indemnity against the costs, expenses and liabilities
that may be incurred therein or thereby; nothing contained herein shall,
however, relieve the Trustee of the obligation, upon the occurrence of an Event
of Default with respect to a series of the Securities (that has not been cured
or waived) to exercise with respect to Securities of that series such of the
rights and powers vested in it by this Indenture, and to 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;

                                       32
<Page>

                  (e)   The Trustee shall not be liable for any action taken or
omitted to be taken 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;

                  (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, consent, order, approval, bond,
security, or other papers or documents, unless requested in writing so to do by
the holders of not less than a majority in aggregate principal amount of the
Outstanding Securities of the particular series affected thereby (determined as
provided in Section 8.04); provided, however, that if the payment within a
reasonable time to the Trustee of the costs, expenses or liabilities likely to
be incurred by it in the making of such investigation is, in the opinion of the
Trustee, not reasonably assured to the Trustee by the security afforded to it by
the terms of this Indenture, the Trustee may require reasonable indemnity
against such costs, expenses or liabilities as a condition to so proceeding. The
reasonable expense of every such examination shall be paid by the Company or, if
paid by the Trustee, shall be repaid by the Company upon demand; and

                  (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.

                  SECTION 7.03    Trustee Not Responsible for Recitals or
Issuance or Securities.

                  (a)   The recitals contained herein and in the Securities
shall be taken as the statements of the Company, and the Trustee assumes no
responsibility for the correctness of the same.

                  (b)   The Trustee makes no representations as to the validity
or sufficiency of this Indenture or of the Securities.

                  (c)   The Trustee shall not be accountable for the use or
application by the Company of any of the Securities or of the proceeds of such
Securities, or for the use or application of any moneys paid over by the Trustee
in accordance with any provision of this Indenture or established pursuant to
Section 2.01, or for the use or application of any moneys received by any Paying
Agent other than the Trustee.

                  SECTION 7.04    May Hold Securities.

                  The Trustee or any Paying Agent or Security Registrar, in its
individual or any other capacity, may become the owner or pledgee of Securities
with the same rights it would have if it were not Trustee, Paying Agent or
Security Registrar.

                  SECTION 7.05        Moneys Held in Trust.

                  Subject to the provisions of Section 11.05, all moneys
received by the Trustee shall, until used or applied as herein provided, be held
in trust for the purposes for which they were received, but need not be
segregated from other funds except to the extent required by law. Neither the
Trustee nor any agent of the Company or the Trustee shall be under no liability
for interest on any moneys received by it hereunder except such as it may agree
with the Company to pay thereon.

                                       33
<Page>

                  SECTION 7.06    Compensation and Reimbursement.

                  (a)   The Company covenants and agrees to pay to the Trustee,
and the Trustee shall be entitled to, such reasonable compensation (which shall
not be limited by any provision of law in regard to the compensation of a
trustee of an express trust), as the Company, and the Trustee may from time to
time agree in writing, for all services rendered by it in the execution of the
trusts hereby created and in the exercise and performance of any of the powers
and duties hereunder of the Trustee, and, except as otherwise expressly provided
herein, the Company will pay or reimburse the Trustee upon its request for all
reasonable expenses, disbursements and advances incurred or made by the Trustee
in accordance with any of the provisions of this Indenture (including the
reasonable compensation and the expenses and disbursements of its legal counsel
and of all Persons not regularly in its employ) except any such expense,
disbursement or advance as may arise from its negligence or bad faith. The
Company also covenants to indemnify the Trustee (and its officers, agents,
directors and employees) for, and to hold it harmless against, any loss,
liability or expense incurred without negligence or bad faith on the part of the
Trustee and arising out of or in connection with the acceptance or
administration of this trust, including the costs and expenses of defending
itself against any claim of liability in the premises.

                  (b)   The obligations of the Company under this Section to
compensate and indemnify the Trustee and to pay or reimburse the Trustee for
expenses, disbursements and advances shall constitute additional indebtedness
hereunder. Such additional indebtedness shall be secured by a lien prior to that
of the Securities upon all property and funds held or collected by the Trustee
as such, except funds held in trust for the benefit of the holders of particular
Securities.

                  SECTION 7.07    Reliance on Officers' Certificate.

                  Except as otherwise provided in Section 7.01, whenever in the
administration of the provisions of this Indenture the Trustee shall deem it
necessary or desirable that a matter be proved or established prior to taking or
suffering or omitting to take any action hereunder, such matter (unless other
evidence in respect thereof be herein specifically prescribed) may, in the
absence of negligence or bad faith on the part of the Trustee, be deemed to be
conclusively proved and established by an Officers' Certificate delivered to the
Trustee and such certificate, in the absence of negligence or bad faith on the
part of the Trustee, shall be full warrant to the Trustee for any action taken,
suffered or omitted to be taken by it under the provisions of this Indenture
upon the faith thereof.

                  SECTION 7.08    Disqualification; Conflicting Interests.

                  If the Trustee has or shall acquire any "conflicting interest"
within the meaning of Section 310(b) of the Trust Indenture Act, the Trustee and
the Company shall in all respects comply with the provisions of Section 310(b)
of the Trust Indenture Act.

                  SECTION 7.09    Corporate Trustee Required; Eligibility.

                  There shall at all times be a Trustee with respect to the
Securities issued hereunder which shall at all times be a corporation organized
and doing business under the laws of the United States of America or any State
or Territory thereof or of the District of Columbia, or a corporation or other
Person permitted to act as trustee by the Commission, authorized under such laws
to exercise corporate trust powers, having a combined capital and surplus of at
least 50 million U.S. dollars ($50,000,000), and subject to supervision or
examination by federal, state, territorial, or District of Columbia authority.
If such corporation publishes reports of condition at least annually, pursuant
to law or to the requirements of the aforesaid 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. The
Company may not, nor may any Person directly or indirectly controlling,
controlled by, or under common control with the Company, serve as Trustee.

                                       34
<Page>

In case at any time the Trustee shall cease to be eligible in accordance with
the provisions of this Section, the Trustee shall resign immediately in the
manner and with the effect specified in Section 7.10.

                  SECTION 7.10    Resignation and Removal; Appointment of
Successor.

                  (a)   The Trustee or any successor hereafter appointed, may at
any time resign with respect to the Securities of one or more series by giving
written notice thereof to the Company and by transmitting notice of resignation
by mail, first class postage prepaid, to the Securityholders of such series, as
their names and addresses appear upon the Security Register. Upon receiving such
notice of resignation, the Company shall promptly appoint a successor trustee
with respect to Securities of such series by written instrument, in duplicate,
executed by order of the Board of Directors, one copy of which instrument shall
be delivered to the resigning Trustee and one copy to the successor trustee. If
no successor trustee shall have been so appointed and have accepted appointment
within 30 days after the mailing 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 Securities of such series, or any
Securityholder of that series who has been a bona fide holder of a Security or
Securities for at least six months may on behalf of himself and all others
similarly situated, petition any such court for the appointment of a successor
trustee. Such court may thereupon after such notice, if any, as it may deem
proper and prescribe, appoint a successor trustee.

                  (b)   In case at any time any one of the following shall
occur:

                        (1)    the  Trustee  shall  fail to comply  with the
          provisions of Section 7.08 after written request therefor by the
          Company or by any Securityholder who has been a bona fide holder of a
          Security or Securities for at least six months; or

                        (2)    the Trustee shall cease to be eligible in
          accordance with the provisions of Section 7.09 and shall fail to
          resign after written request therefor by the Company or by any such
          Securityholder; or

                        (3)    the Trustee shall become incapable of acting, or
          shall be adjudged a bankrupt or insolvent, or commence a voluntary
          bankruptcy proceeding, or a receiver of the Trustee or of its property
          shall be appointed or consented to, or any public officer shall take
          charge or control of the Trustee or of its property or affairs for the
          purpose of rehabilitation, conservation or liquidation; then, in any
          such case, (i) the Company may remove the Trustee with respect to all
          Securities and appoint a successor trustee by written instrument, in
          duplicate, executed by order of the Board of Directors, one copy of
          which instrument shall be delivered to the Trustee so removed and one
          copy to the successor trustee, or (ii), unless the Trustee's duty to
          resign is stayed as provided herein, any Securityholder who has been a
          bona fide holder of a Security or Securities for at least six months
          may, on behalf of that holder and all others similarly situated,
          petition any court of competent jurisdiction for the removal of the
          Trustee and the appointment of a successor trustee. Such court may
          thereupon after such notice, if any, as it may deem proper and
          prescribe, remove the Trustee and appoint a successor trustee.

                  (c)   The holders of a majority in aggregate principal amount
of the Securities of any series at the time Outstanding may at any time remove
the Trustee with respect to such series by so notifying the Trustee and the
Company and may appoint a successor Trustee for such series with the consent of
the Company.

                                       35
<Page>

                  (d)   Any resignation or removal of the Trustee and
appointment of a successor trustee with respect to the Securities of a series
pursuant to any of the provisions of this Section shall become effective upon
acceptance of appointment by the successor trustee as provided in Section 7.11.

                  (e)   Any successor trustee appointed pursuant to this Section
may be appointed with respect to the Securities of one or more series or all of
such series, and at any time there shall be only one Trustee with respect to the
Securities of any particular series.

                  SECTION 7.11    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 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) 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, 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 that no Trustee shall be responsible
for any act or failure to act on the part of any other Trustee hereunder; 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, such retiring Trustee shall with respect to the Securities of that or
those series to which the appointment of such successor trustee relates have no
further responsibility for the exercise of rights and powers or for the
performance of the duties and obligations vested in the Trustee under this
Indenture, 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, to the extent contemplated by
such supplemental indenture, the 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 (a) or (b) of this Section, as the case may be.

                                       36
<Page>

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

                  (e)   Upon acceptance of appointment by a successor trustee as
provided in this Section, the Company shall transmit notice of the succession of
such trustee hereunder by mail, first class postage prepaid, to the
Securityholders, as their names and addresses appear upon the Security Register.
If the Company fails to transmit such notice within ten days after acceptance of
appointment by the successor trustee, the successor trustee shall cause such
notice to be transmitted at the expense of the Company.

                  SECTION 7.12    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 the corporate trust business of the
Trustee, shall be the successor of the Trustee hereunder, provided that such
corporation shall be qualified under the provisions of Section 7.08 and eligible
under the provisions of Section 7.09, without the execution or filing of any
paper or any further act on the part of any of the parties hereto, anything
herein to the contrary notwithstanding. 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 7.13    Preferential Collection of Claims Against the
Company.

                  The Trustee shall comply with Section 311(a) of the Trust
Indenture Act, excluding any creditor relationship described in Section 311(b)
of the Trust Indenture Act. A Trustee who has resigned or been removed shall be
subject to Section 311(a) of the Trust Indenture Act to the extent included
therein.

                                  ARTICLE VIII

                         CONCERNING THE SECURITYHOLDERS

                  SECTION 8.01    Evidence of Action by Securityholders.

                  Whenever in this Indenture it is provided that the holders of
a majority or specified percentage in aggregate principal amount of the
Securities of a particular series may take any action (including the making of
any demand or request, the giving of any notice, consent or waiver or the taking
of any other action), the fact that at the time of taking any such action the
holders of such majority or specified percentage of that series have joined
therein may be evidenced by any instrument or any number of instruments of
similar tenor executed by such holders of Securities of that series in Person or
by agent or proxy appointed in writing.

                  If the Company shall solicit from the Securityholders of any
series any request, demand, authorization, direction, notice, consent, waiver or
other action, the Company may, at its option, as evidenced by an Officers'
Certificate, fix in advance a record date for such series for the determination
of Securityholders entitled to give such request, demand, authorization,
direction, notice, consent, waiver or other action, but the Company shall have
no obligation to do so. If such a record date is fixed, such request, demand,
authorization, direction, notice, consent, waiver or other action may be given
before or after the record date, but only the Securityholders of record at the
close of business on the record date

                                       37
<Page>

shall be deemed to be Securityholders for the purposes of determining whether
Securityholders of the requisite proportion of Outstanding Securities of that
series have authorized or agreed or consented to such request, demand,
authorization, direction, notice, consent, waiver or other action, and for that
purpose the Outstanding Securities of that series shall be computed as of the
record date; provided, however, that no such authorization, agreement or consent
by such Securityholders on the record date shall be deemed effective unless it
shall become effective pursuant to the provisions of this Indenture not later
than six months after the record date.

                  SECTION 8.02    Proof of Execution by Securityholders.

                  Subject to the provisions of Section 7.01, proof of the
execution of any instrument by a Securityholder (such proof will not require
notarization) or his agent or proxy and proof of the holding by any Person of
any of the Securities shall be sufficient if made in the following manner:

                  (a)   The fact and date of the execution by any such Person of
any instrument may be proved in any reasonable manner acceptable to the Trustee.

                  (b)   The ownership of Securities shall be proved by the
Security Register of such Securities or by a certificate of the Security
Registrar thereof.

                  (c)   The Trustee may require such additional proof of any
matter referred to in this Section as it shall deem necessary.

                  SECTION 8.03    Who May be Deemed Owners.

                  Prior to the due presentment for registration of transfer of
any Security, the Company, the Trustee, any Paying Agent and any Security
Registrar may deem and treat the Person in whose name such Security shall be
registered upon the books of the Company as the absolute owner of such Security
(whether or not such Security shall be overdue and notwithstanding any notice of
ownership or writing thereon made by anyone other than the Security Registrar)
for the purpose of receiving payment of or on account of the principal of,
premium, if any, and (subject to Section 2.03) interest on such Security and for
all other purposes; and neither the Company nor the Trustee nor any Paying Agent
nor any Security Registrar shall be affected by any notice to the contrary.

                  SECTION 8.04    Certain Securities Owned by Company
Disregarded.

                  In determining whether the holders of the requisite aggregate
principal amount of Securities of a particular series have concurred in any
direction, consent of waiver under this Indenture, the Securities of that series
that are owned by the Company or any other obligor on the Securities of that
series or by any Person directly or indirectly controlling or controlled by or
under common control with the Company or any other obligor on the Securities of
that series shall be disregarded and deemed not to be Outstanding for the
purpose of any such determination, except that for the purpose of determining
whether the Trustee shall be protected in relying on any such direction, consent
or waiver, only Securities of such series that the Trustee actually knows are so
owned shall be so disregarded. The Securities so owned that have been pledged in
good faith may be regarded as Outstanding for the purposes of this Section, if
the pledgee shall establish to the satisfaction of the Trustee the pledgee's
right so to act with respect to such Securities and that the pledgee is not a
Person directly or indirectly controlling or controlled by or under direct or
indirect common control with the Company or any such other obligor. In case of a
dispute as to such right, any decision by the Trustee taken upon the advice of
legal counsel shall be full protection to the Trustee.

                                       38
<Page>

                  SECTION 8.05    Actions Binding on Future Securityholders.

                  At any time prior to (but not after) the evidencing to the
Trustee, as provided in Section 8.01, of the taking of any action by the holders
of the majority or percentage in aggregate principal amount of the Securities of
a particular series specified in this Indenture in connection with such action,
any holder of a Security of that series that is shown by the evidence to be
included in the Securities the holders of which have consented to such action
may, by filing written notice with the Trustee, and upon proof of holding as
provided in Section 8.02, revoke such action so far as concerns such Security.
Except as aforesaid any such action taken by the holder of any Security shall be
conclusive and binding upon such holder and upon all future holders and owners
of such Security, and of any Security issued in exchange therefor, on
registration of transfer thereof or in place thereof, irrespective of whether or
not any notation in regard thereto is made upon such Security. Any action taken
by the holders of the majority or percentage in aggregate principal amount of
the Securities of a particular series specified in this Indenture in connection
with such action shall be conclusively binding upon the Company, the Trustee and
the holders of all the Securities of that series.

                                   ARTICLE IX

                             SUPPLEMENTAL INDENTURES

                  SECTION 9.01    Supplemental Indentures Without the Consent of
Securityholders.

                  In addition to any supplemental indenture otherwise authorized
by this Indenture, the Company and the Trustee may from time to time and at any
time enter into an indenture or indentures supplemental hereto (which shall
conform to the provisions of the Trust Indenture Act as then in effect), without
the consent of the Securityholders, for one or more of the following purposes:

                        (1)    to cure any ambiguity, defect, or inconsistency
          herein, in any supplemental indenture or in the Securities of any
          series;

                        (2)    to provide for uncertificated Securities in
          addition to or in place of certificated Securities;

                        (3)    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;

                        (4)    to add to, delete from, or revise the conditions,
          limitations, and restrictions on the authorized amount, terms, or
          purposes of issue, authentication, and delivery of Securities, as
          herein set forth;

                        (5)    to make any change that does not adversely affect
          the rights of any Securityholder in any material respect;

                        (6)    to provide for the issuance of and establish the
          form and terms and conditions of the Securities of any series as
          provided in Section 2.01, to establish the

                                       39
<Page>

          form of any certifications required to be furnished pursuant to the
          terms of this Indenture or any series of Securities, or to add to the
          rights of the holders of any series of Securities;

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

                        (8)   to secure the Securities;

                        (9)   to evidence and provide for the acceptance of
          appointment hereunder by a successor Trustee with respect to the
          Securities of one or more series and to add to or change any of the
          provisions of this Indenture as shall be necessary to provide for or
          facilitate the administration of the trusts hereunder by more than one
          Trustee, pursuant to the requirements of Section 7.11; or

                        (10)   to evidence the succession of another corporation
          to the Company, or successive successions, and the assumption by the
          successor corporation of the covenants, agreements and obligation of
          the Company pursuant to Article X hereof.

                  The Trustee is hereby authorized to join with the Company in
the execution of any such supplemental indenture, and to make any further
appropriate agreements and stipulations that may be therein contained, but the
Trustee shall not be obligated to enter into any such supplemental indenture
that affects the Trustee's own rights, duties or immunities under this Indenture
or otherwise.

                  Any supplemental indenture authorized by the provisions of
this Section may be executed by the Company and the Trustee without the consent
of the holders of any of the Securities at the time Outstanding, notwithstanding
any of the provisions of Section 9.02.

                  SECTION 9.02    Supplemental Indentures With Consent of
Securityholders.

                  With the consent (evidenced as provided in Section 8.01) of
the holders of not less than a majority in aggregate principal amount of the
Securities of each series affected by such supplemental indenture or indentures
at the time Outstanding, the Company, when authorized by Board Resolutions,

                                       40
<Page>

and the Trustee may from time to time and at any time enter into an indenture or
indentures supplemental hereto (which shall conform to the provisions of the
Trust Indenture Act as then in effect) for the purpose of adding any provisions
to or changing in any manner or eliminating any of the provisions of this
Indenture or of any supplemental indenture or of modifying in any manner not
covered by Section 9.01 the rights of the holders of the Securities of such
series under this Indenture; provided, however, that no such supplemental
indenture shall, without the consent of the holders of each Security then
Outstanding and affected thereby, (i) extend the fixed maturity of any
Securities of any series, or reduce the principal amount thereof, or reduce the
rate or extend the time of payment of interest thereon, or reduce any premium
payable upon the redemption thereof; (ii) reduce the amount of principal of an
Original Issue Discount Security or any other Security payable upon acceleration
of the maturity thereof pursuant to Section 6.01(b); (iii) change the currency
in which any Security or any premium or interest is payable; (iv) impair the
right to enforce any payment on or with respect to any Security; (v) adversely
change the right to convert or exchange, including decreasing the conversion
rate or increasing the conversion price of, such Security (if applicable); (vi)
reduce the percentage in principal amount of outstanding Securities of any
series, the consent of the holders of which is required for modification or
amendment of this Indenture or for waiver of compliance with certain provisions
of this Indenture or for waiver of certain defaults; (vii) reduce the
requirements contained in this Indenture for quorum or voting; or (viii) modify
any of the above provisions; provided, further, that if the Securities of such
series are held by an American Equity Trust or a trustee of such Trust, any such
supplemental indenture that affects the interests or rights of the holders of
the Trust Securities shall not be effective until the holders of not less than a
majority in liquidation preference of Trust Securities of the applicable
American Equity Trust shall have consented to such supplemental indenture; and,
provided, further, that if the consent of the holder of each outstanding
Security is required, such supplemental indenture shall not be effective until
each holder of the Trust Securities of the applicable American Equity Trust
shall have consented to such supplemental indenture.

                  It shall not be necessary for the consent of the
Securityholders of any series affected thereby under this Section to approve the
particular form of any proposed supplemental indenture, but it shall be
sufficient if such consent shall approve the substance thereof.

                  SECTION 9.03    Effect of Supplemental Indentures.

                  Upon the execution of any supplemental indenture pursuant to
the provisions of this Article or of Article X, this Indenture shall, with
respect to such series, be and be deemed to be modified and amended in
accordance therewith and the respective rights, limitations of rights,
obligations, duties and immunities under this Indenture of the Trustee, the
Company and the holders of Securities of the series affected thereby shall
thereafter be determined, exercised and enforced hereunder subject in all
respects to such modifications and amendments, and all the terms and conditions
of any such supplemental indenture shall be and be deemed to be part of the
terms and conditions of this Indenture for any and all purposes.

                  SECTION 9.04    Securities Affected by Supplemental
Indentures.

                  Securities of any series, affected by a supplemental
indenture, authenticated and delivered after the execution of such supplemental
indenture pursuant to the provisions of this Article or of Article X, may bear a
notation in form approved by the Company, provided such form meets the
requirements of any exchange upon which such series may be listed, as to any
matter provided for in such supplemental indenture. If the Company shall so
determine, new Securities of that series so modified as to conform, in the
opinion of the Board of Directors of the Company, to any modification of this
Indenture contained in any such supplemental indenture may be prepared by the
Company, authenticated by the Trustee and delivered in exchange for the
Securities of that series then Outstanding.

                                       41
<Page>

                  SECTION 9.05    Execution of Supplemental Indentures.

                  Upon the request of the Company, accompanied by its Board
Resolutions authorizing the execution of any such supplemental indenture, and
upon the filing with the Trustee of evidence of the consent of Securityholders
required to consent thereto as aforesaid, the Trustee shall join with the
Company in the execution of such supplemental indenture unless such supplemental
indenture affects the Trustee's own rights, duties or immunities under this
Indenture or otherwise, in which case the Trustee may, in its discretion, but
shall not be obligated to, enter into such supplemental indenture. The Trustee,
subject to the provisions of Section 7.01, may receive an Opinion of Counsel as
conclusive evidence that any supplemental indenture executed pursuant to this
Article is authorized or permitted by, and conforms to, the terms of this
Article and that it is proper for the Trustee under the provisions of this
Article to join in the execution thereof; provided, however, that such Opinion
of Counsel need not be provided in connection with the execution of a
supplemental indenture that establishes the terms of a series of Securities
pursuant to Section 2.01 hereof.

                  Promptly after the execution by the Company and the Trustee of
any supplemental indenture pursuant to the provisions of this Section, the
Trustee shall transmit by mail, first class postage prepaid, a notice, setting
forth in general terms the substance of such supplemental indenture, to the
Securityholders of all series affected thereby as their names and addresses
appear upon the Security Register. Any failure of the Trustee to mail such
notice, or any defect therein, shall not, however, in any way impair or affect
the validity of any such supplemental indenture.

                                       42
<Page>

                                    ARTICLE X

                       CONSOLIDATION, MERGER, CONVEYANCE,
                                TRANSFER OR LEASE

                  SECTION 10.01   When the Company May Consolidate, Merge, Etc.

                  The Company may not (a) merge with or into or consolidate
with, or (b) sell, assign, transfer, lease or convey all or substantially all of
its properties and assets to, any Person other than, with respect to this clause
(b), a direct or indirect wholly-owned subsidiary of the Company, and no Person
shall (x) merge with or into or consolidate with the Company, or (y) except for
any direct or indirect wholly-owned subsidiary of the Company, sell, assign,
transfer, lease or convey all or substantially all of its properties and assets
to the Company, unless:

                  (a)   the Company is the surviving corporation or the Person
formed by or surviving such merger or consolidation or to which such sale,
assignment, transfer, lease or conveyance shall have been made (the
"Successor"), if other than the Company, shall expressly assume by an indenture
supplemental hereto, executed and delivered to the Trustee, in form satisfactory
to the Trustee, all the obligations of the Company under the Securities, this
Indenture, the Common Securities Guarantee and the Preferred Securities
Guarantee;

                  (b)   immediately after giving effect to such transaction,
no default or Event of Default shall have occurred and be continuing;

                  (c)   if at the time any Preferred Securities are outstanding,
such transaction is not prohibited under the Declaration and the Preferred
Securities Guarantee; and

                  (d)   the Company delivers to the Trustee an Officers'
Certificate and an Opinion of Counsel, each stating that such supplemental
indenture complies with this Indenture.

                  The Successor will be the successor to the Company, and will
be substituted for, and may exercise every right and power and become the
obligor on the Securities with the same effect as if the Successor had been
named as the Company herein but, in the case of a sale, assignment, transfer,
lease or conveyance of all or substantially all of the properties and assets of
the Company, the predecessor Company will not be released from its obligations
to pay the principal of, premium, if any, and interest on the Securities.

                                   ARTICLE XI

                           SATISFACTION AND DISCHARGE

                  SECTION 11.01   Satisfaction and Discharge of Indenture.

                  If at any time: (a) the Company shall have delivered to the
Trustee for cancellation all Securities of a series theretofore authenticated
(other than any Securities that shall have been destroyed, lost or stolen and
that shall have been replaced or paid as provided in Section 2.07) and
Securities for whose payment money or Governmental Obligations have theretofore
been deposited in trust or segregated and held in trust by the Company (and
thereupon repaid to the Company or discharged from such trust, as provided in
Section 11.04); or (b) all such Securities of a particular series not
theretofore delivered to the Trustee for cancellation shall have become due and
payable, or are by their terms to become due and payable within one year or are
to be called for redemption within one year under

                                       43
<Page>

arrangements satisfactory to the Trustee for the giving of notice of redemption,
and (i) the Company shall irrevocably deposit or cause to be deposited with the
Trustee as trust funds the entire amount in moneys or Governmental Obligations
sufficient or 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 at maturity or upon
redemption all Securities of that series not theretofore delivered to the
Trustee for cancellation, including principal, and premium, if any, and interest
due or to become due to such date of maturity or date fixed for redemption, as
the case may be, and (ii) the Company shall also pay or cause to be paid all
other sums payable hereunder with respect to such series by the Company, then
this Indenture shall thereupon cease to be of further effect with respect to
such series except for the provisions of Sections 2.03, 2.05, 2.07, 4.01, 4.02,
4.03 and 7.10, that shall survive until the date of maturity or redemption date,
as the case may be, and Sections 7.06 and 11.04, that shall survive to such date
and thereafter, and the Trustee, on demand of the Company and at the cost and
expense of the Company, shall execute proper instruments acknowledging
satisfaction of and discharging this Indenture with respect to such series.

                  SECTION 11.02 Deposited Moneys and Governmental Obligations to
be Held in Trust.

                  All moneys or Governmental Obligations (including the proceeds
thereof) deposited with the Trustee pursuant to Sections 11.01 or 11.02 shall be
held in trust and shall be available for payment as due, either directly or
through any Paying Agent (including the Company acting as its own Paying Agent),
to the holders of the particular series of Securities for the payment or
redemption of which such moneys or Governmental Obligations have been deposited
with the Trustee.

                  SECTION 11.03   Payment of Moneys Held by Paying Agents.

                  In connection with the satisfaction and discharge of this
Indenture all moneys or Governmental Obligations then held by any Paying Agent
under the provisions of this Indenture shall, upon demand of the Company, be
paid to the Trustee and thereupon such Paying Agent shall be released from all
further liability with respect to such moneys or Governmental Obligations.

                  SECTION 11.04   Repayment to Company.

                  Any moneys or Governmental Obligations deposited with any
Paying Agent or the Trustee, or then held by the Company, in trust for payment
of principal of or premium, if any, or interest on the Securities of a
particular series that are not applied but remain unclaimed by the holders of
such Securities for at least two years after the date upon which the principal
of, and premium, if any, or interest on such Securities shall have respectively
become due and payable, shall be repaid to the Company on May 31 of each year or
(if then held by the Company) shall be discharged from such trust; and thereupon
the Paying Agent and the Trustee shall be released from all further liability
with respect to such moneys or Governmental Obligations, and the holder of any
of the Securities entitled to receive such payment shall thereafter, as an
unsecured general creditor, look only to the Company for the payment thereof.

                                   ARTICLE XII

                IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS
                                  AND DIRECTORS

                  SECTION 12.01   No Recourse.

                  No recourse under or upon any obligation, covenant or
agreement of this Indenture, or of any Security, or for any claim based thereon
or otherwise in respect thereof, shall be had against any

                                       44
<Page>

incorporator, stockholder, officer or director, past, present or future as such,
of the Company or of any predecessor or successor corporation, either directly
or through the Company or any such predecessor or successor corporation, whether
by virtue of any constitution, statute or rule of law, or by the enforcement of
any assessment or penalty or by any legal or equitable proceeding or otherwise;
it being expressly understood that this Indenture and the obligations issued
hereunder are solely corporate obligations, and that no such personal liability
whatever shall attach to, or is or shall be incurred by, the incorporators,
stockholders, officers or directors as such, of the Company or of any
predecessor or successor corporation, or any of them, because of the creation of
the indebtedness hereby authorized, or under or by reason of the obligations,
covenants or agreements contained in this Indenture or in any of the Securities
or implied therefrom; and that any and all such personal liability of every name
and nature, either at common law or in equity or by constitution or statute, of,
and any and all such rights and claims against, every such incorporator,
stockholder, officer or director as such, because of the creation of the
indebtedness hereby authorized, or under or by reason of the obligations,
covenants or agreements contained in this Indenture or in any of the Securities
or implied therefrom, are hereby expressly waived and released as a condition
of, and as a consideration for, the execution of this Indenture and the issuance
of such Securities.

                                  ARTICLE XIII

                       DEFEASANCE AND COVENANT DEFEASANCE

                  SECTION 13.01   Company's Option to Effect Defeasance or
Covenant Defeasance.

                  The Company may elect, at its option at any time, to have
Section 13.02 or Section 13.03 applied to any Securities or any series of
Securities, as the case may be, in accordance with any applicable
requirements provided pursuant to Section 2.01 and upon compliance with the
conditions set forth below in this Article. Any such election shall be
evidenced by a Board Resolution or in another manner specified as
contemplated by Section 2.01 for such Securities.

                  SECTION 13.02   Defeasance and Discharge.

                  Upon the Company's exercise of its option to have this
Section applied to any Securities or any series of Securities, as the case
may be, the Company shall be deemed to have been discharged from its
obligations with respect to such Securities as provided in this Section on
and after the date the conditions set forth in Section 13.04 are satisfied
(hereinafter called "Defeasance"). For this purpose, such Defeasance means
that the Company shall be deemed to have paid and discharged the entire
indebtedness represented by such Securities and to have satisfied all its
other obligations under such Securities and this Indenture insofar as such
Securities are concerned (and the Trustee, at the expense of the Company,
shall execute proper instruments acknowledging the same), subject to the
following which shall survive until otherwise terminated or discharged
hereunder: (1) the rights of holders of such Securities to receive, solely
from the trust fund described in Section 13.04 and as more fully set forth in
such Section, payments in respect of the principal of and any premium and
interest on such Securities when payments are due, (2) the Company's
obligations with respect to such Securities under Sections 2.05, 2.06, 2.07,
4.01, 4.02 and 4.03, (3) the rights, powers, trusts, duties and immunities of
the Trustee hereunder and (4) this Article. Subject to compliance with this
Article, the Company may exercise its option to have this Section applied to
any Securities notwithstanding the prior exercise of its option to have
Section 13.03 applied to such Securities. Following a Defeasance, payment of
such Securities may not be accelerated because of an Event of Default.

                                       45
<Page>

                  SECTION 13.03   Covenant Defeasance.

                  Upon the Company's exercise of its option to have
this Section applied to any Securities or any series of Securities, as the case
may be, (1) the Company shall be released from its obligations under Article X,
Sections 4.06 and 4.07, and any covenants provided pursuant to Sections
2.01(15), 9.01(3) or 9.01(6) for the benefit of the holders of such Securities
and (2) the occurrence of any event specified in Sections 6.01(a)(3) (with
respect to any of Article X, Sections 4.06 and 4.07, and any such covenants
provided pursuant to Sections 2.01(15), 9.01(3) or 9.01(6)) and 6.01(a)(7) shall
be deemed not to be or result in an Event of Default, in each case with respect
to such Securities as provided in this Section on and after the date the
conditions set forth in Section 13.04 are satisfied (hereinafter called
"Covenant Defeasance"). For this purpose, such Covenant Defeasance means that,
with respect to such Securities, the Company may omit to comply with and shall
have no liability in respect of any term, condition or limitation set forth in
any such specified Section (to the extent so specified in the case of Section
6.01(a)(3)), whether directly or indirectly by reason of any reference elsewhere
herein to any such Section or by reason of any reference in any such Section to
any other provision herein or in any other document, but the remainder of this
Indenture and such Securities shall be unaffected thereby.

                  SECTION 13.04   Conditions to Defeasance or Covenant
Defeasance.

                  The following shall be the conditions to the application of
Section 13.02 or Section 13.03 to any Securities or any series of Securities, as
the case may be:

                        (1)    The Company shall irrevocably have deposited or
          caused to be deposited with the Trustee (or another trustee which
          satisfies the requirements contemplated by Section 7.09 and agrees to
          comply with the provisions of this Article applicable to it) as trust
          funds in trust for the purpose of making the following payments,
          specifically pledged as security for, and dedicated solely to, the
          benefits of the holders of such Securities, (A) money in an amount, or
          (B) Government Obligations which through the scheduled payment of
          principal and interest in respect thereof in accordance with their
          terms will provide, not later than one day before the due date of any
          payment, money in an amount, or (C) a combination thereof, in each
          case 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 (or any such other qualifying trustee)
          to pay and discharge, (i) the principal of and any premium and
          interest on such Securities on the respective Stated Maturities and
          (ii) any mandatory sinking fund payments applicable to such Securities
          on the day on which such payments are due and payable, in each case,
          in accordance with the terms of this Indenture and such Securities.

                        (2)    In the event of an election to have Section 13.02
          apply to any Securities or any series of Securities, as the case may
          be, the Company shall have delivered to the Trustee an Opinion of
          Counsel stating that (A) the Company has received from, or there has
          been published by, the Internal Revenue Service a ruling or (B) since
          the date of this Indenture, there has been a change in the applicable
          federal income tax law, in either case (A) or (B) to the effect that,
          and based thereon such opinion shall confirm that, the holders of such
          Securities will not recognize income, gain or loss for federal income
          tax purposes as a result of the deposit, Defeasance and discharge to
          be effected with respect to such Securities and will be subject to
          federal income tax on the same amount, in the same manner and at the
          same times as would be the case if such deposit, Defeasance and
          discharge were not to occur.

                                       46
<Page>

                        (3)    In the event of an election to have Section 13.03
          apply to any Securities or any series of Securities, as the case may
          be, the Company shall have delivered to the Trustee an Opinion of
          Counsel to the effect that the holders of such Securities will not
          recognize income, gain or loss for federal income tax purposes as a
          result of the deposit and Covenant Defeasance to be effected with
          respect to such Securities and will be subject to federal income tax
          on the same amount, in the same manner and at the same times as would
          be the case if such deposit and Covenant Defeasance were not to occur.

                        (4)    The Company shall have delivered to the Trustee
          an Officers' Certificate to the effect that it has been informed by
          the relevant securities exchange(s) that neither such Securities nor
          any other Securities of the same series, if then listed on any
          securities exchange, will be delisted as a result of such deposit.

                        (5)    No event which is, or after notice or lapse of
          time or both would become, an Event of Default with respect to such
          Securities or any other Securities shall have occurred and be
          continuing at the time of such deposit or, with regard to any such
          event specified in Sections 6.01(a)(5) and 6.01(a)(6), at any time on
          or prior to the 90th day after the date of such deposit (it being
          understood that this condition shall not be deemed satisfied until
          after such 90th day).

                        (6)    Such Defeasance or Covenant Defeasance shall not
          result in a breach or violation of, or constitute a default under, any
          other indenture or other agreement or instrument for borrowed money,
          pursuant to which in excess of $50,000,000 principal amount is then
          outstanding, to which the Company is a party or by which it is bound.

                        (7)    Such Defeasance or Covenant Defeasance shall not
          result in the trust arising from such deposit constituting an
          investment company within the meaning of the Investment Company Act
          unless such trust shall be registered under such Act or exempt from
          registration thereunder.

                        (8)    The Company shall have delivered to the Trustee
          an Officers' Certificate and an Opinion of Counsel, each stating that
          all conditions precedent with respect to such Defeasance or Covenant
          Defeasance have been complied with (other than the 90 day period
          specified in Section 13.04(5)).

                  SECTION 13.05   Deposited Money and Government Obligations to
Be Held in Trust; Miscellaneous Provisions.

                  Subject to the provisions of Section 4.03(d), all money and
Government Obligations (including the proceeds thereof) deposited with the
Trustee or other qualifying trustee (solely for purposes of this Section and
Section 13.06, the Trustee and any such other trustee are referred to
collectively as the "Trustee") pursuant to Section 13.04 in respect of any
Securities shall be held in trust and applied by the Trustee, in accordance with
the provisions of such Securities and this Indenture, to the payment, either
directly or through any such Paying Agent (including the Company acting as its
own Paying Agent) as the Trustee may determine, to the holders of such
Securities, of all sums due and to become due thereon in respect of principal
and any premium and interest, but money so held in trust need not be segregated
from other funds except to the extent required by law.

                                       47
<Page>

                  The Company shall pay and indemnify the Trustee against any
tax, fee or other charge imposed on or assessed against the Government
Obligations deposited pursuant to Section 13.04 or the principal and interest
received in respect thereof other than any such tax, fee or other charge which
by law is for the account of the holders of Outstanding Securities.

                  Anything in this Article to the contrary notwithstanding, the
Trustee shall deliver or pay to the Company from time to time upon request of
the Company any money or Government Obligations held by it as provided in
Section 13.04 with respect to any Securities which, in the opinion of a
nationally recognized firm of independent public accountants expressed in a
written certification thereof delivered to the Trustee, are in excess of the
amount thereof which would then be required to be deposited to effect the
Defeasance or Covenant Defeasance, as the case may be, with respect to such
Securities.

                  SECTION 13.06   Reinstatement.

                  If the Trustee or the Paying Agent is unable to apply any
money in accordance with this Article 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, then the obligations
under this Indenture and such Securities from which the Company has been
discharged or released pursuant to Sections 13.02 or 13.03 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 13.05 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 XIV

                            MISCELLANEOUS PROVISIONS

                  SECTION 14.01   Effect on Successors and Assigns.

                  All the covenants, stipulations, promises and agreements in
this Indenture contained by or on behalf of the Company shall bind their
respective successors and assigns, whether so expressed or not.

                  SECTION 14.02   Actions by Successor.

                  Any act or proceeding by any provision of this Indenture
authorized or required to be done or performed by any board, committee or
officer of the Company shall and may be done and performed with like force and
effect by the corresponding board, committee or officer of any corporation that
shall at the time be the lawful sole successor of the Company.

                  SECTION 14.03   Notices.

                  Except as otherwise expressly provided herein any notice or
demand that by any provision of this Indenture is required or permitted to be
given or served by the Trustee or by the holders of Securities to or on the
Company shall be in writing (which may be by facsimile) and may be given or
served by being deposited first class postage prepaid in a post-office letterbox
addressed (until another address is filed in writing by the Company with the
Trustee), as follows: American Equity Investment Life Holding Company, 5000
Westown Parkway, Suite 440, West Des Moines, Iowa, Attention: Chief Financial
Officer, with copies of any notice of an Event of Default to the attention of
the General Counsel

                                       48
<Page>

at the same address. Any notice, election, request or demand by the Company or
any Securityholder to or upon the Trustee shall be deemed to have been
sufficiently given or made, for all purposes, if given or made in writing at the
Corporate Trust Office of the Trustee.

                  When this Indenture provides for notice to holders of
Securities, such notice shall be sufficiently given if in writing and mailed,
first-class postage prepaid, to each holder entitled thereto, at his or her last
address as it appears in the Security Register. In any case where notice to such
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 of Securities. Where
this Indenture provides for notice in any manner, such notice may be waived in
writing by the person entitled to receive such notice, either before or after
the event, and such waiver shall be the equivalent of such notice. Waivers of
notice by holders of Securities shall be filed with the Trustee, but such filing
shall not be a condition precedent to the validity of any action taken in
reliance upon such waiver.

                  SECTION 14.04   Governing Law.

                  This Indenture and each Security shall be deemed to be a
contract made under the internal laws of the State of New York, and for all
purposes shall be construed in accordance with the laws of said State.

                  SECTION 14.05   Treatment of Securities as Debt.

                  It is intended that the Securities will be treated as
indebtedness and not as equity for federal income tax purposes. The provisions
of this Indenture shall be interpreted to further this intention.

                  SECTION 14.06   Compliance Certificates and Opinions.

                  (a) Upon any application or demand by the Company to the
Trustee to take any action under any of the provisions of this Indenture, the
Company shall furnish to the Trustee an Officers' Certificate stating that all
conditions precedent 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 such conditions precedent have been complied with,
except that in the case of any such application or demand as to which the
furnishing of such documents is specifically required by any provision of this
Indenture relating to such particular application or demand, no additional
certificate or opinion need be furnished.

                  (b) Each certificate or opinion provided for in this Indenture
and delivered to the Trustee with respect to compliance with a condition or
covenant in this Indenture shall include (1) a statement that the Person making
such certificate or opinion has read such covenant or condition; (2) a brief
statement as to the nature and scope of the examination or investigation upon
which the statements or opinions contained in such certificate or opinion are
based; (3) a statement that, in the opinion of such Person, he has made such
examination or investigation as is necessary to enable him to express an
informed opinion as to whether or not such covenant or condition has been
complied with; and (4) a statement as to whether or not, in the opinion of such
Person, such condition or covenant has been complied with.

                  SECTION 14.07       Payments on Business Days.

                  Except as provided pursuant to Section 2.01 pursuant to a
Board Resolution, and as set forth in an Officers' Certificate, or established
in one or more indentures supplemental to this Indenture,

                                       49
<Page>

in any case where the date of maturity of interest or principal of any Security
or the date of redemption of any Security shall not be a Business Day, then
payment of interest or principal, and premium, if any, may be made on the next
succeeding Business Day with the same force and effect as if made on the nominal
date of maturity or redemption, and no interest shall accrue for the period
after such nominal date.

                  SECTION 14.08   Conflict with Trust Indenture Act.

                  If and to the extent that any provision of this Indenture
limits, qualifies or conflicts with the duties imposed by Sections 310 to 318,
inclusive, of the Trust Indenture Act, such imposed duties shall control.

                  SECTION 14.09   Counterparts.

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

                  SECTION 14.10   Separability.

                  In case any one or more of the provisions contained in this
Indenture or in the Securities of any series shall for any reason be held to be
invalid, illegal or unenforceable in any respect, such invalidity, illegality or
unenforceability shall not affect any other provisions of this Indenture or of
such Securities, but this Indenture and such Securities shall be construed as if
such invalid or illegal or unenforceable provision had never been contained
herein or therein.

                  SECTION 14.11   Assignment.

                  The Company will have the right at all times to assign any of
its rights or obligations under this Indenture to a direct or indirect
wholly-owned subsidiary of the Company, provided that, in the event of any such
assignment, the Company, will remain liable for all such obligations. Subject to
the foregoing, the Indenture is binding upon and inures to the benefit of the
parties thereto and their respective successors and assigns. This Indenture may
not otherwise be assigned by the parties thereto.

                  SECTION 14.12   Acknowledgment of Rights.

                  The Company acknowledges that, with respect to any Securities
held by an American Equity Trust or a trustee of such Trust, if the Property
Trustee of such Trust fails to enforce its rights under this Indenture as the
holder of the series of Securities held as the assets of such American Equity
Trust, any holder of Preferred Securities may institute legal proceedings
directly against the Company to enforce such Property Trustee's rights under
this Indenture without first instituting any legal proceedings against such
Property Trustee or any other person or entity. Notwithstanding the foregoing,
if an Event of Default has occurred and is continuing and such event is
attributable to the failure of the Company to pay interest or principal on the
applicable series of Securities on the date such interest or principal is
otherwise payable (or in the case of redemption, on the redemption date), the
Company acknowledges that a holder of Preferred Securities may directly
institute a proceeding for enforcement of payment to such holder of the
principal of or interest on the applicable series of Securities having a
principal amount equal to the aggregate liquidation amount of the Preferred
Securities of such holder as determined after the respective due date specified
in the applicable series of Securities.

                                       50
<Page>

                  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.

<Page>

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

                                   AMERICAN EQUITY INVESTMENT
                                    LIFE HOLDING COMPANY

                                   By: /s/ Wendy L. Carlson
                                      ----------------------------------
                                       Name:  Wendy L. Carlson
                                       Title: Chief Financial Officer
                                              and General Counsel

                                   U.S. BANK NATIONAL ASSOCIATION, as
                                   Trustee

                                   By: /s/ Benjamin J. Krueger
                                      ----------------------------------
                                       Name:  Benjamin J. Krueger
                                       Title: Assistant Vice President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00065-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00065-of-00352.parquet"}]]