Document:

Exhibit
4.2

 

WASHINGTON MUTUAL, INC.

 

and

 

THE BANK OF NEW YORK, as Trustee

 

__________________________

 

Subordinated Debt
Securities

 

Second Supplemental
Indenture

 

___________________________

 

Dated as of March 16, 2004

 

 

This SECOND SUPPLEMENTAL
INDENTURE, dated as of March 16, 2004 (the 
“Second Supplemental Indenture”), between WASHINGTON MUTUAL, INC., a
corporation duly organized and existing under the laws of the State of
Washington (herein called the “Company”), having its principal offices at 1201
Third Avenue, Seattle, Washington 
98101, and THE BANK OF NEW YORK, (as successor to Harris Trust and
Savings Bank and herein called the “Trustee”), as Trustee, and supplements and
amends that certain Subordinated Debt Securities Indenture, dated as of April
4, 2000, between the Company and the Trustee, as amended by the First
Supplemental Indenture, dated as of August 1, 2002 (the “Indenture”).

 

RECITALS OF THE COMPANY

 

Whereas, the Company executed and delivered the
Indenture to the Trustee to provide for the issuance from time to time of
unlimited amounts of the Company’s unsubordinated and unsecured debentures,
notes or other obligations for money so borrowed (the “Securities”) to be
issued in one or more series as might be determined by the Company under the
Indenture;

 

Whereas, Section 3.1 of the Indenture permits the
terms of any series of Securities to be established in an indenture
supplemental to the Indenture;

 

Whereas,
Section 9.1 of the Indenture provides, among other things, that, without the
consent of any Holders, the Company and the Trustee may change or eliminate any
of the provisions of the Indenture; provided that any such change or
elimination shall become effective only when there is no security outstanding
of any series created prior to the execution of such supplemental indenture
which is adversely affected by such change in or elimination of such provision;

 

Whereas,
the Company has
requested the Trustee to join with it in the execution and delivery of this
Second Supplemental Indenture to supplement and amend the Indenture by, among
other things, adding and amending certain definitions and modifying the Events
of Default for any series of Securities established subsequent to the date of
this Second Supplemental Indenture; and

 

Whereas,
all things necessary to make this Second Supplemental Indenture a valid
agreement of the parties and a valid supplement to the Indenture have been
done.

 

NOW, THEREFORE, THIS
SECOND SUPPLEMENTAL INDENTURE WITNESSETH:

 

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

 

ARTICLE
I

DEFINITIONS

 

1.1.         Definitions.
 All capitalized terms
that are used herein and not otherwise defined herein shall have the meanings
assigned to them in the Indenture.

 

 

1.2          Section
References.  Each
reference to a particular section set forth in this Second Supplemental
Indenture shall, unless the context otherwise requires, refer to this Second
Supplemental Indenture.

 

ARTICLE
II

AMENDMENTS

 

2.1          Definitions.  The definition of “Debt” found in Section
1.1 of the Indenture shall be amended in its entirety with respect to any
series of Securities issued subsequent to the date of this Second Supplemental
Indenture, as follows:

 

“Debt” means indebtedness
of the Company or any Principal Subsidiary Bank representing money borrowed
(which term shall include evidences of indebtedness representing extensions of
credit whether or not representing obligations for money borrowed), except
indebtedness owed to the Company or any Principal Subsidiary Bank by any
Subsidiary or owed to any Subsidiary by the Company or any Principal Subsidiary
Bank, and shall include indebtedness of any other person for money borrowed
when such indebtedness is guaranteed by the Company or any Principal Subsidiary
Bank.

 

Section 1.1 of the Indenture shall be amended with
respect to any series of Securities issued subsequent to the date of this
Second Supplemental Indenture to include the following definitions:

 

“Principal Subsidiary
Bank” means each of (i) Washington Mutual Bank, FA and (ii) any other
Subsidiary Bank the consolidated assets of which constitute 20% or more of the
consolidated assets of the Company and its Subsidiaries.

 

“Subsidiary Bank” means
any Subsidiary that is organized under the laws of the United States, any state
of the United States, the District of Columbia, any territory of the United
States, Puerto Rico, Guam, American Samoa or the Virgin Islands and either (1)
accepts deposits that the depositor has a legal right to withdraw on demand and
engages in the business of making loans or (ii) is a trust company.

 

2.2          Events
of Default.  Section
5.1(f) of the Indenture shall be amended to read in its entirety with respect
to any series of Securities issued subsequent to the date of this Second
Supplemental Indenture, as follows:

 

(f) an event of default, as defined in any mortgage,
indenture (including this Indenture), trust agreement or other instrument
securing, evidencing or providing for any Debt as a result of which Debt in
excess of $75,000,000 aggregate principal amount shall be or become due and
payable prior to the date on which the same would otherwise become due and
payable, and such acceleration shall not have been annulled or rescinded or
such Debt discharged within a period of 30 days after notice of such
acceleration to the Company; provided, however, that,

 

 

if such event of default with respect to such other
series of Securities or under such indenture or instrument, as the case may be,
shall be remedied or cured by the Company or waived by the holders of such
other series of Securities or the holders of such indebtedness, as the case may
be, pursuant to this Indenture or such indenture or instrument, as the case may
be, then unless the maturity of the Securities of such series shall have been
accelerated as provided in Section 5.2 hereof, the Event of Default
hereunder by reason thereof shall be deemed likewise to have been thereupon
remedied, cured or waived without further action upon the part of either the
Trustee or the holders of such series; or

 

ARTICLE
III

MISCELLANEOUS

 

3.1          Effect on Indenture.  This Second Supplemental Indenture is a supplement to
the Indenture.  As supplemented by this
Second Supplemental Indenture, the Indenture is in all respects ratified,
approved and confirmed, and the Indenture and this Second Supplemental
Indenture shall together constitute one and the same instrument.

 

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

 

3.3          Recitals. 
The recitals contained herein shall be taken as the statements of the
Company, and the Trustee assumes no responsibility for their correctness.  The Trustee makes no representations as to
the validity or sufficiency of this Second Supplemental Indenture.

 

3.4          Governing Law. 
This Second Supplemental Indenture shall be governed by and construed in
accordance with the law of the State of New York.

 

[Signature Pages
Follow]

 

 

 

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

 

	
   

  	
  WASHINGTON MUTUAL, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By

  	
  /s/ Thomas W. Casey

  	
   

  
	
   

  	
  Name:

  	
  Thomas W. Casey

  
	
   

  	
  Title:

  	
  Chief Financial Officer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  THE BANK OF NEW YORK,

  
	
   

  	
    as Trustee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By

  	
  /s/ Michael Pitfick

  	
   

  
	
   

  	
  Name:

  	
  Michael Pitfick

  
	
   

  	
  Title:

  	
  Assistant Vice
  President

  
					

 

Second Supplemental Indenture Signature PageExhibit
10.34

 

VICAL INCORPORATED

10390 Pacific Center Court

San Diego, CA 92121-4340

 

March 15,
2004

 

 

Mr. Vijay B.
Samant

Vical Incorporated

10390 Pacific
Center Court

San Diego, CA  92121-4340

 

Re:          Amendment
to November 28, 2000 Letter Regarding Employment Terms

 

Dear Vijay:

 

This Amendment
(the “Amendment”)
to your Letter Agreement with Vical Incorporated (the “Company”) dated November 28, 2000 (the “Agreement”) will
amend the terms and conditions of the Agreement to the extent provided herein
and supercedes the Letter Agreements dated February 5, 2002 and
March 10, 2003.  Except as
specifically amended by this Amendment, the terms and conditions of the
Agreement shall remain in full force and effect.

 

Paragraph 6
of the Agreement is hereby deleted in its entirety and replaced with the
following:

 

“6.                               Relocation.  We are prepared to pay you a grossed-up
payment equal to $50,000 per year for the term of this Letter Agreement to
assist you with your expenses for relocating to the San Diego area, and, prior to
relocation, for temporary housing and travel to your current residence in
Pennsylvania.”

 

This Amendment
shall be governed by and construed in accordance with the laws of the State of
California, without regard to conflicts of law principles.

 

Please sign and
date this Amendment and return it to me at your earliest convenience.

 

Sincerely,

 

	
  VICAL INCORPORATED

  
	
   

  
	
   

  
	
  By:

  	
  /s/ MARTHA J.
  DEMSKI

  	
   

  
	
   

  	
  Martha J. Demski

  
	
   

  	
  Vice President & Chief Financial Officer

  
	
   

  
	
  ACCEPTED AND AGREED:

  
	
   

  
	
   

  
	
  /s/ VIJAY B.
  SAMANT

  	
   

  
	
  Vijay B. Samant

  
	
   

  
	
  March 17,
  2004

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