Document:

ex4.4

Exhibit 4.4 

 

MARSH & McLENNAN COMPANIES INC., 
Company
AND
THE BANK OF NEW YORK MELLON,
Trustee
 

INDENTURE
Dated as of                      
 

Subordinated Debt Securities

 
 

CROSS-REFERENCE TABLE* 
 
	
		
	 
	 

	Section of 
Trust Indenture Act 
of 1939, as amended
	Section of 
Indenture

	310(a)
	7.09

	310(b)
	7.08

	 
	7.10

	310(c)
	Inapplicable

	311(a)
	713(a)

	311(b)
	713(b)

	311(c)
	Inapplicable

	312(a)
	5.01

	 
	5.02(a)

	312(b)
	5.02(b)

	312(c)
	5.02(c)

	313(a)
	5.04(a)

	313(b)
	5.04(b)

	313(c)
	5.04(a)

	 
	5.04(b)

	313(d)
	5.04(c)

	314(a)
	5.03

	314(b)
	Inapplicable

	314(c)
	Inapplicable

	314(d)
	Inapplicable

	314(e)
	Inapplicable

	314(f)
	Inapplicable

	315(a)
	7.01(a)

	 
	7.02

	315(b)
	6.07

	315(c)
	7.01

	315(d)
	7.01(b)

	 
	7.01(c)

	315(e)
	6.07

	316(a)
	6.06

	 
	8.04

	316(b)
	6.04

	316(c)
	8.01

	317(a)
	6.02

	317(b)
	4.03

	318(a)
	13.06

 

		
	*
	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.

TABLE OF CONTENTS 

	
			
	 
	PAGE

	ARTICLE 1
DEFINITIONS

	 
	 

	Section 1.01. Definitions of Terms
	1
	

	 

	ARTICLE 2

	ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE OF SECURITIES

	 
	 

	Section 2.01. Designation and Terms of Securities
	4
	

	Section 2.02. Form of Securities and Trustee’s Certificate
	5
	

	Section 2.03. Denominations; Provision for Payment
	5
	

	Section 2.04. Execution and Authentications
	6
	

	Section 2.05. Registration of Transfer and Exchange
	6
	

	Section 2.06. Temporary Securities
	7
	

	Section 2.07. Mutilated, Destroyed, Lost or Stolen Securities
	7
	

	Section 2.08. Cancellation
	8
	

	Section 2.09. Benefits of Indenture
	8
	

	Section 2.10. Authenticating Agent
	8
	

	Section 2.11. Global Securities
	8
	

	Section 2.12. CUSIP Numbers
	9
	

	 

	ARTICLE 3

	REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS

	 
	 

	Section 3.01. Redemption
	9
	

	Section 3.02. Notice of Redemption
	9
	

	Section 3.03. Payment Upon Redemption
	10
	

	Section 3.04. Sinking Fund
	10
	

	Section 3.05. Satisfaction of Sinking Fund Payments with Securities
	10
	

	Section 3.06. Redemption of Securities for Sinking Fund
	11
	

	 

	ARTICLE 4

	CERTAIN COVENANTS

	 
	 

	Section 4.01. Payment of Principal, Premium and Interest
	11
	

	Section 4.02. Maintenance of Office or Agency
	11
	

	Section 4.03. Paying Agents
	11
	

	Section 4.04. Appointment to Fill Vacancy in Office of Trustee
	12
	

	Section 4.05. Compliance with Consolidation Provisions
	12
	

	Section 4.06. Limitation on Liens on Stock of Significant Subsidiaries
	12
	

	Section 4.07. Trustee’s Obligations with Respect to the Covenants
	12
	

	Section 4.08. Compliance Certificate
	12
	

	 

	ARTICLE 5

	SECURITYHOLDERS LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE

	 
	 

	Section 5.01. Company to Furnish Trustee Names and Addresses of Securityholders
	12
	

	Section 5.02. Preservation of Information; Communications with Securityholders
	13
	

	Section 5.03. Reports by the Company
	13
	

	Section 5.04. Reports by the Trustee
	13
	

 

i

	
			
	 

	ARTICLE 6

	REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT

	 
	 

	Section 6.01. Events of Default
	14
	

	Section 6.02. Collection of Indebtedness and Suits for Enforcement by Trustee
	15
	

	Section 6.03. Application of Moneys Collected
	16
	

	Section 6.04. Limitation on Suits
	16
	

	Section 6.05. Rights and Remedies Cumulative; Delay or Omission not Waiver
	16
	

	Section 6.06. Control by Securityholders
	16
	

	Section 6.07. Undertaking to Pay Costs
	17
	

	 

	ARTICLE 7

	CONCERNING THE TRUSTEE

	 
	 

	Section 7.01. Certain Duties and Responsibilities of Trustee
	17
	

	Section 7.02. Certain Rights of Trustee
	18
	

	Section 7.03. Trustee not Responsible for Recitals or Issuance or Securities
	19
	

	Section 7.04. May Hold Securities
	19
	

	Section 7.05. Moneys Held in Trust
	19
	

	Section 7.06. Compensation and Reimbursement
	19
	

	Section 7.07. Reliance on Officers’ Certificate
	19
	

	Section 7.08. Disqualification; Conflicting Interests
	20
	

	Section 7.09. Corporate Trustee Required; Eligibility
	20
	

	Section 7.10. Resignation and Removal; Appointment of Successor
	20
	

	Section 7.11. Acceptance of Appointment by Successor
	21
	

	Section 7.12. Merger, Conversion, Consolidation or Succession to Business
	21
	

	Section 7.13. Preferential Collection of Claims Against the Company
	22
	

	 
	 

	 

	ARTICLE 8

	CONCERNING THE SECURITYHOLDERS

	 
	 

	Section 8.01. Evidence of Action by Securityholders
	22
	

	Section 8.02. Proof of Execution by Securityholders
	22
	

	Section 8.03. Who May be Deemed Owners
	22
	

	Section 8.04. Certain Securities Owned by Company Disregarded
	22
	

	Section 8.05. Actions Binding on Future Securityholders
	23
	

	 

	ARTICLE 9

	SUPPLEMENTAL INDENTURES

	 
	 

	Section 9.01. Supplemental Indentures Without the Consent of Securityholders
	23
	

	Section 9.02. Supplemental Indentures With Consent of Securityholders
	23
	

	Section 9.03. Effect of Supplemental Indentures
	24
	

	Section 9.04. Securities Affected by Supplemental Indentures
	24
	

	Section 9.05. Execution of Supplemental Indentures
	24
	

	Section 9.06. Conformity with Trust Indenture Act
	24
	

	 

	ARTICLE 10

	SUCCESSOR CORPORATION

	 
	 

	Section 10.01. Company May Consolidate, Etc., Only on Certain Terms
	25
	

	Section 10.02. Successor Substitute
	25
	

ii

	
		
	 
	 

	ARTICLE 11

	DEFEASANCE AND DISCHARGE

	 
	 

	Section 11.01. Discharge of Company’s Obligations
	25

	Section 11.02. Legal Defeasance
	26

	Section 11.03. Covenant Defeasance
	26

	Section 11.04. Application of Trust Money
	27

	Section 11.05. Repayment to Company
	27

	 

	ARTICLE 12

	IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS

	 
	 

	Section 12.01. No Recourse
	27

	 

	ARTICLE 13

	MISCELLANEOUS PROVISIONS

	 
	 

	Section 13.01. Effect on Successors and Assigns
	27

	Section 13.02. Actions by Successor
	27

	Section 13.03. Surrender of Company Powers
	28

	Section 13.04. Notices
	28

	Section 13.05. Governing Law
	28

	Section 13.06. Compliance Certificates and Opinions
	28

	Section 13.07. Payments on Business Days
	28

	Section 13.08. Conflict with Trust Indenture Act
	28

	Section 13.09. Counterparts
	28

	Section 13.10. Separability
	28

	Section 13.11. Assignment
	29

	Section 13.12. Waiver of Jury Trial
	29

	Section 13.13. Force Majeure
	29

	 

	ARTICLE 14

	SUBORDINATION OF SECURITIES

	 
	 

	Section 14.01. Subordination Terms
	29

iii

INDENTURE, dated as of                     , between Marsh & McLennan Companies, Inc., a Delaware corporation (the “Company”), and The Bank of New York Mellon, a New York banking corporation, as trustee (the “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 subordinated debt securities (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 in this Indenture provided, as registered Securities without coupons, to be authenticated by the certificate of the Trustee; 
WHEREAS, to provide the terms and conditions upon which the Securities are to be authenticated, issued and delivered, the Company has duly authorized the execution of this Indenture; and 
WHEREAS, all acts and requirements necessary to make this Indenture a valid and legally binding 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 Securityholders: 
ARTICLE 1 
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 or that are by reference in such Act defined in the Securities Act (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. 
“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. 
“Authorized Newspaper” means a newspaper in the English language or in an official language of the country of publication, customarily printed on each Business Day, whether or not published on Saturdays, Sundays or holidays, and of general circulation in the place in connection with which the term is used or in the financial community of such place. If, because of temporary suspension of publication or general circulation of any newspaper or for any other reason, it is impossible or impracticable to make any publication of any notice required by this Indenture in the manner herein provided, such publication or other notice in lieu thereof which is made at the written direction of the Company by the Trustee shall constitute a sufficient publication of such notice. 
“Bankruptcy Law” means Title 11, U.S. Code, or any similar Federal or State 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. 
“Commission” means the United States Securities and Exchange Commission and any successor thereto. 
“Company” means Marsh & McLennan Companies, Inc., a corporation duly organized and existing under the laws of the State of Delaware, and, subject to the provisions of Article 10, shall also include its successors and assigns. 
“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 is located at 101 Barclay Street, Floor 8 West, New York, New York 10286, Attention: Corporate Trust Administration, or such other address as the Trustee may designate from time to time by notice to the Securityholders and the Company, or the principal corporate trust office of any successor Trustee (or such other address as such successor Trustee may designate from time to time by notice to the Securityholders and the Company). 
“Custodian” means any receiver, trustee, assignee, liquidator, or similar official under any Bankruptcy Law. 

“Default” means any event, act or condition that with notice or lapse of time, or both, would constitute an Event of Default. 
“Defaulted Interest” has the meaning assigned to such term in Section 2.03. 
“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. 
“Exchange Act” means the Securities Exchange Act of 1934, as amended. 
“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) 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 any amount payable to the holder of such depositary receipt, or from any amount received by the custodian in respect of the Governmental Obligation, or from any 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 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 principles and leases of property or assets made as part of any sale and lease-back transaction to which such Person is a party. For purposes of the covenant under Section 4.06 of this Indenture only, Indebtedness also includes any obligation of, or any obligation guaranteed by, any Person for the payment of amounts due under a swap agreement or similar instrument or agreement, or under a foreign currency hedge or similar instrument or agreement. 
“Indenture” means this instrument as originally executed or as it may from time to time be supplemented or amended by one or more indentures supplemental hereto entered into in accordance with the terms hereof. 
“Interest Payment Date”, when used with respect to any installment of interest on a Security of a particular series, means the date specified in such Security or in an Officers’ Certificate pursuant to a Board Resolution or in an indenture supplemental hereto with respect to such series as the fixed date on which an installment of interest with respect to Securities of that series is due and payable. 
“Officers’ Certificate” means a certificate, signed by any two of the Chief Financial Officer, the Treasurer and an Assistant Treasurer of the Company, provided that at least one such officer is the Chief Financial Officer or the Treasurer 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 13.06, if and to the extent required by the provisions thereof. 

2

“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 13.06, if and to the extent required by the provisions thereof. 
“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 specified in Article 3 or provision satisfactory to the Trustee shall have been made for giving such notice; and (c) Securities in lieu of or in substitution for which other Securities shall have been authenticated and delivered, or securities which shall have been paid, pursuant to the terms of Section 2.07. 
“Person” means any individual, corporation, partnership, joint-venture, joint-stock company, limited liability company or other unincorporated organization or government or any agency or political subdivision thereof. 
“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. 
“Responsible Officer” when used with respect to the Trustee means any officer in its corporate trust department 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 and who shall have direct responsibility for the administration of this Indenture. 
“Securities Act” means the Securities Act of 1933, as amended. 
“Securities” means the debt securities authenticated and delivered under this Indenture. 
“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. 
“Security Register” has the meaning assigned to such term in Section 2.05(b). 
“Security Registrar” has the meaning assigned to such term in Section 2.05(b). 
“Senior Indebtedness” means all Indebtedness, except for Indebtedness which, in the instrument creating or evidencing the same, is expressly stated to be not senior in right of payment to the Securities; provided that Senior Indebtedness does not include (i) any obligation to the Company or any Subsidiary or (ii) trade payables. 
“Significant Subsidiary” means Marsh Inc. or Mercer Inc. 
“Subsidiary” means, with respect to any Person, (i) any corporation, limited liability company or other unincorporated entity 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 The Bank of New York Mellon, and, subject to the provisions of Article 7, 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 Section 9.01 and Section 9.02, as in effect at the date of execution of this instrument. 
“UCC” means the Uniform Commercial Code, as in effect in each applicable jurisdiction. 

3

“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. 
ARTICLE 2 
ISSUE, 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 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, and set forth in an Officers’ Certificate, or established in one or more indentures supplemental hereto: 
(a) the title of the Security of the series (which shall distinguish the Securities of the series from all other Securities); 
(b) any limit upon the aggregate principal amount of the Securities of 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); 
(c) the date or dates on which the principal of the Securities of the series is payable; 
(d) 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; 
(e) 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 Securityholders to whom interest is payable on any such Interest Payment Dates; 
(f) the right, if any, to extend the interest payment periods and the duration of such extension; 
(g) 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; 
(h) the obligation, if any, of the Company to redeem 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 or purchased, in whole or in part, pursuant to such obligation; 
(i) the subordination terms of the Securities of the series; 
(j) the form of the Securities of the series including the form of the certificate of authentication for such series; 
(k) 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; 
(l) any and all other terms with respect to such series (which terms shall not be inconsistent with the terms of this Indenture) including any terms which may be required by or advisable under United States laws or regulations or advisable in connection with the marketing of Securities of that series; 
(m) whether the Securities are issuable as a Global Security and, in such case, the identity of the Depositary for such series; 
(n) whether the Securities will be convertible into shares of common stock or other securities 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; 
(o) if other than the principal amount thereof, the portion of the principal amount of Securities of the series which shall be payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.01; 
(p) any additional or different Events of Default or restrictive covenants provided for with respect to the Securities of the series; 
(q) any provisions granting special rights to Securityholders when a specified event occurs; and 
(r) any special tax implications of the Securities of the series, including provisions for an original issue discount, if offered. 

4

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, a copy of an appropriate record of such action shall be certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of the Officers’ Certificate setting forth the terms of the series. 
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 by or pursuant to a Board Resolution and set forth in an Officers’ Certificate, 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. 
Section 2.03. Denominations; Provision for Payment. 
The Securities shall be issuable as registered Securities without coupons and in the denominations of one thousand U.S. dollars ($1,000) or any integral multiple thereof, subject to Section 2.01(l). The Securities of a particular series shall bear interest payable on the dates and at the rate or rates specified with respect to that series. 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 Borough of Manhattan, the City and State of New York. 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. 
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 registered holder; and such Defaulted Interest shall be paid by the Company, at its election, as provided in clause (a) or clause (b) below: 
(a) 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 transmitted by mail to each Securityholder (to the extent their respective names and addresses appear in the Security Register (as hereinafter defined)) or through the facilities of the Depositary, not less than 10 days prior to such special record date. Following such mailing of notice of the proposed payment of such Defaulted Interest and the special record date, 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 (b). 

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(b) 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 or pursuant to a Board Resolution 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 first day of 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 such 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 any two of its officers among the Chief Financial Officer, the Treasurer and an Assistant Treasurer, provided that at least one such officer is the Chief Financial Officer or the Treasurer and 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 Chief Financial Officer, Treasurer or Assistant Treasurer 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 Chief Financial Officer, Treasurer or Assistant Treasurer, or the Secretary or an Assistant Secretary, of the Company. The Securities may contain such notations, legends or endorsements as are 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 of such Security 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 Chief Financial Officer, Treasurer or any Assistant Treasurer 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 provided with, and (subject to Section 7.01) shall be fully protected in relying upon (i) an Officers’ Certificate or executed supplemental indenture setting forth the form and terms of the Securities as required pursuant to Section 2.01 and (ii) an Opinion of Counsel stating that the form and terms thereof have been established in conformity with the provisions of this Indenture and that such Securities, when authenticated and delivered by the Trustee and issued by the Company in the manner and subject to any conditions specified in such Opinion of Counsel, will be valid and binding obligations of the Company entitled to the benefits of this Indenture, and enforceable against the Company in accordance with their terms, except to the extent that enforcement thereof may be limited by (i) bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance or similar laws now or hereafter in effect relating to creditors’ rights generally and (ii) general principles of equity (regardless of whether enforceability is considered in a proceeding in equity or at law). 
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 in the Borough of Manhattan, the City and State of New York, 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. 

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(b) The Company shall keep, or cause to be kept, at its office or agency designated for such purpose in the Borough of Manhattan, the City and State of New York, 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 provided in this Section and which at all reasonable times shall be open for inspection by the Trustee. The registrar for the purpose of registering Securities and transfers 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 registered 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, Section 3.03(b) 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. 
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 thereof), at the office or agency of the Company designated for the purpose in the Borough of Manhattan, the City and State of New York, 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 in writing 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 (subject to the next succeeding sentence) shall execute, and upon the Company’s request the Trustee (subject as aforesaid) shall 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 such security or indemnity as may be required by them 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. 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 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 such security or indemnity as they may require 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. 

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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 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 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 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 cancelled 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 written 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. 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 the holders of the Securities (and, with respect to the provisions of Article 14, the holders of Senior Indebtedness) 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 of the holders of the Securities (and, with respect to the provisions of Article 14, the holders of Senior Indebtedness). 
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 by an Authenticating Agent for such series. Each Authenticating Agent shall be acceptable to the Company and shall be a corporation 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 Authenticating Agent may at any time resign by giving written notice of resignation to the Trustee and to the Company. The Trustee may at any time (and upon written 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, (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. 

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(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 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. 
Section 2.12. CUSIP Numbers. 
The Company in issuing the Securities may use “CUSIP” numbers (if then generally in use), and, if so, the Trustee shall use “CUSIP” numbers in notices of redemption as a convenience to Securityholders; 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 in writing of any change in the “CUSIP” numbers. 
ARTICLE 3 
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 in the Borough of Manhattan, the City and State of New York, 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 such 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. 
 

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(b) If the Trustee is to provide notice to the holders of Securities in accordance with clause (a) above, for a partial or full redemption, the Company shall give the Trustee at least 45 days notice in advance of the date fixed for redemption as to the aggregate principal amount of Securities of the series to be redeemed, and thereupon, in the case of a partial redemption, 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 one thousand U.S. dollars ($1,000) or any integral multiple thereof) of the principal amount of such Securities of a denomination larger than $1,000, 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 Chief Financial Officer, Treasurer or an Assistant Treasurer, 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; except that interest shall continue to accrue on any such Security or portion thereof with respect to which the Company defaults in the payment of such redemption price and accrued interest. 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 this Section 3.04, Section 3.05 and Section 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 to as an “optional sinking fund payment”. If provided for by the terms of Securities of any series, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 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. 

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Section 3.06. Redemption of Securities for Sinking Fund. 
Not less than 45 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. 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. 
ARTICLE 4 
CERTAIN COVENANTS 
Section 4.01. Payment of Principal, Premium and Interest. 
The Company will duly and punctually pay or cause to be paid the principal of (and premium, if any) and interest on the Securities of that series at the time and place and in the manner provided herein and established with respect to such Securities. 
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 the Borough of Manhattan, the City and State of New York, 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 signed by its Chief Financial Officer, Treasurer, an Assistant Treasurer, Secretary or an Assistant Secretary 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. 
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: 
(i) that it will hold all sums held by it as such agent for the payment of the principal of (and premium, if any) or interest 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; 
(ii) 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; 
(iii) that it will, at any time during the continuance of any failure referred to in the preceding paragraph (a)(ii) above, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such paying agent; and 
(iv) 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 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. 

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(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 11.05, 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. 
Section 4.04. 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 4.05. 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 10 hereof are complied with. 
Section 4.06. Limitation on Liens on Stock of Significant Subsidiaries. 
The Company will not, and it will not permit any Subsidiary of the Company to, at any time directly or indirectly create, assume, incur or permit to exist any Indebtedness secured by a pledge, lien or other encumbrance (any pledge, lien or other encumbrance being hereinafter in this Section referred to as a “lien”) on the Voting Stock of a Significant Subsidiary without making effective provision whereby the Securities then Outstanding (and, if the Company so elects, any other Indebtedness of the Company that is not subordinate to the Securities and with respect to which the governing instruments require, or pursuant to which the Company is otherwise obligated or required, to provide such security) shall be equally and ratably secured with such secured Indebtedness so long as such other Indebtedness shall be so secured. 
If the Company shall hereafter be required to secure the Securities equally and ratably with any other Indebtedness pursuant to this Section, (i) the Company will promptly deliver to the Trustee an Officers’ Certificate stating that the foregoing covenant has been complied with, and an Opinion of Counsel stating that in the opinion of such counsel the foregoing covenant has been complied with and (ii) the Trustee is hereby authorized to enter into an indenture or agreement supplemental hereto and to take such action, if any, as it may deem advisable to enable it to enforce the rights of the holders of the Securities so secured. 
Section 4.07. Trustee’s Obligations with Respect to the Covenants. 
The Trustee shall not be obligated to monitor or confirm, on a continuing basis or otherwise, the Company’s compliance with the covenants contained in this Article 4. 
Section 4.08. Compliance Certificate. 
The Company shall deliver to the Trustee within 120 days after the end of each of the Company’s fiscal years, a certificate executed by its principal executive officer, principal financial officer or principal accounting officer, stating as to his or her knowledge the Company’s compliance (without regard to periods of grace or notice requirements) with all conditions and covenants under this Indenture, and if the Company shall not be in compliance, specifying such non-compliance and the nature and status thereof of which such officer may have knowledge. 
ARTICLE 5 
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 each regular record date (as defined in Section 2.03) 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. 

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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. 
Section 5.03. Reports by the Company. 
(a) The Company covenants and agrees to file with the Trustee, within 30 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 time 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) Delivery of such reports, information and documents to the Trustee is for informational purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates). 
(d) The Company covenants and agrees to transmit by mail to the Securityholders (to the extent their respective names and addresses appear in the Security Register) or through the facilities of the Depositary, within 30 days after the filing thereof with the Trustee, 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 rules and regulations prescribed from time to time by the Commission. 
Section 5.04. Reports by the Trustee. 
(a) On or before May 15 in each year in which any of the Securities are Outstanding, the Trustee shall transmit by mail to the Securityholders (to the extent their respective names and addresses appear in the Security Register) or through the facilities of the Depositary 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 Section 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 reasonably promptly notify the Trustee in writing when any Securities become listed on any stock exchange, and of any delisting thereof. 

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ARTICLE 6 
REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT 
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: 
(i) 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 90 days; provided, however, 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; 
(ii) 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, by declaration 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; 
(iii) 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 has been expressly included in this Indenture solely for the benefit of one or more series of Securities other than such series) 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 all series affected by such failure at the time Outstanding; 
(iv) the Company pursuant to or within the meaning of any Bankruptcy Law (A) commences a voluntary case, (B) consents to the entry of an order for relief against it in an involuntary case, (C) consents to the appointment of a Custodian of it or for all or substantially all of its property or (D) makes a general assignment for the benefit of its creditors; 
(v) a court of competent jurisdiction enters an order under any Bankruptcy Law that (A) is for relief against the Company in an involuntary case, (B) appoints a Custodian of the Company for all or substantially all of their respective property, or (C) orders the liquidation of the Company, and the order or decree remains unstayed and in effect for 90 days; or 
(vi) any other Event of Default provided for with respect to the Securities of such series in accordance with Section 2.01. 
(b) If an Event of Default described in clauses (a)(i) or (a)(ii) of this Section 6.01 with respect to the Securities of any series then Outstanding hereunder occurs and is continuing, then, unless the principal of the Securities of such series shall have already become due and payable, either the Trustee or the holders of not less than 25% in aggregate principal amount of the Securities of such series then Outstanding, 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 such series and interest accrued thereon, if any, to be due and payable immediately, and upon any such declaration the same shall become and shall be immediately due and payable, notwithstanding anything contained in this Indenture or in the Securities of such series or established with respect to such series pursuant to Section 2.01 to the contrary. If an Event of Default described in clauses (a)(iv) or (a)(v) of this Section 6.01 occurs and is continuing, or if an Event of Default described in clauses (a)(iii) or (a)(vi) of this Section 6.01 with respect to Securities of one or more series then Outstanding hereunder occurs and is continuing, then, except with respect to any such affected series for which the principal of all the Securities thereof shall have already become due and payable, either the Trustee or the holders of not less than 25% in aggregate principal amount of the Securities of all affected series then Outstanding (all such series voting together 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 then Outstanding of such series and interest accrued thereon, if any, to be due and payable immediately, and upon such declaration the same shall become immediately due and payable. 
(c) At any time after the principal of the Securities of any series shall have been declared due and payable as provided in Section 6.01(b), 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 such series then Outstanding (in the case of an Event of Default described in clauses (a)(i) or (a)(ii) of this Section 6.01, each such affected series voting as a separate class, and in the case of an Event of Default described in clauses (a)(iii), (a)(iv), (a)(v) or (a)(vi) of this Section 6.01, all such affected series voting together 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 interest upon all the Securities of such series and the principal of (and premium, if any, on) any and all Securities of such 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, applied to the Securities of each such series at the rate per annum expressed in the Securities of each such series, respectively, 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 that shall not have become due by their terms, shall have been remedied or waived as provided in Section 6.06. 

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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 any such 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 (i) in case it shall default in the payment of any installment of interest on any of the Securities of a series, or any payment required by any sinking or analogous fund established with respect to that series as and when the same shall have become due and payable, and such default shall have continued for a period of 90 Business Days, or (ii) 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 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 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 necessary 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. 

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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 all Senior Indebtedness of the Company if and to the extent required by Article 14;
THIRD: 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
FOURTH: To the Company.
Section 6.04. Limitation on Suits. 
No holder of any Security of any series shall have any right by virtue or by availing itself of any provision of this Indenture to institute any suit, action or proceeding in equity or at law upon or under or with respect to this Indenture or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless: (a) 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; (b) the holders of not less than 25% in aggregate principal amount of the Outstanding Securities of such series (in the case of an Event of Default described in clauses (a)(i) or (a)(ii) of Section 6.01, each such series voting as a separate class, and in the case of an Event of Default described in clauses (a)(iii), (a)(iv), (a)(v) or (a)(vi) of Section 6.01, all affected series voting together as a single class) or shall have made written request upon the Trustee to institute such action, suit or proceeding in its own name as trustee hereunder; (c) 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; (d) 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 (e) during such 60 day period, the holders of a majority in principal amount of the Securities of such series (voting as provided in clause (b) above) 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 all series at the time Outstanding affected thereby (all such series voting together as a single class except with respect to an Event of Default described in clauses (a)(i) or (a)(ii) of 

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Section 6.01, in which case, each such affected series voting as a separate class), determined in accordance with Section 8.04, shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee with respect to 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. The holders of a majority in aggregate principal amount of the Securities of all series at the time Outstanding affected thereby (all such series voting together as a single class), determined in accordance with Section 8.04, may on behalf of the holders of all of the Securities of such series waive any past default in the performance of any of the covenants contained herein or established pursuant to Section 2.01 with respect to such series and its consequences, except a default in the payment of the principal of, or premium, if any, or interest on, any of the Securities of any such series as and when the same shall become due by the terms of such Securities otherwise than by acceleration (unless such default has been cured and a sum sufficient to pay all matured installments of interest and principal and any premium has been deposited with the Trustee (in accordance with Section 6.01(c)). Upon any such waiver, the default covered thereby shall be deemed to be cured for all purposes of this Indenture and the Company, the Trustee and the holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon. 
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. 
ARTICLE 7 
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 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: 
(i) 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, the Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy or mathematical calculations or other facts stated therein); 

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(ii) 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; 
(iii) the Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with the direction of Securityholders provided to the Trustee in accordance with Section 6.06 relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee under this Indenture with respect to the Securities of such series; 
(iv) 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; and 
(v) whether or not therein expressly so provided, every provision of this Indenture relating to the conduct of or affecting the liability of or affording protection to the Trustee shall be subject to the requirements of the Trust Indenture Act. 
Section 7.02. Certain Rights of Trustee. 
Except as otherwise provided in Section 7.01: 
(a) the Trustee may conclusively rely and shall be fully 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 any two of the Chief Financial Officer, the Secretary, an Assistant Secretary, the Treasurer and an Assistant Treasurer thereof (unless other evidence in respect thereof is specifically prescribed herein); 
(c) the Trustee may consult with counsel of its selection and the advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken or suffered or omitted hereunder in good faith and in reliance thereon; 
(d) subject to Section 7.01, 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 satisfactory to it against the costs, expenses and liabilities that may be incurred therein or thereby; 
(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 principal amount of the Outstanding Securities of the series affected thereby, determined as provided in Section 8.04 (in the case of an Event of Default described in clauses (a)(i) or (a)(ii) of Section 6.01, each such series treated as a separate class, and in the case of an Event of Default described in clauses (a)(iii), (a)(iv), (a)(v) or (a)(vi) of Section 6.01, all affected series treated as a single class); 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 satisfactory to it 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; 
(g) the Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder; 
(h) the Trustee shall not be deemed to have notice of any Default or Event of Default unless a Responsible Officer of the Trustee has actual knowledge thereof or unless written notice of any event which is in fact such a default is received by the Trustee at the Corporate Trust Office of the Trustee, and such notice references the Securities and this Indenture; 
(i) the rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right to be indemnified in connection with the performance of its duties under this Indenture shall extend to the Trustee’s officers, directors, agents and employees. Such immunities and protections and right to indemnification, together with the Trustee’s right to compensation, shall survive the Trustee’s resignation or removal and final payment of the Securities; 

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(j) the Trustee may request that the Company deliver a certificate setting forth the names of individuals and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture; and 
(k) in no event shall the Trustee be responsible or liable for special, indirect, or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. 
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. 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 in writing to pay thereon. 
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 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 counsel and of all Persons not regularly in its employ) except any such expense, disbursement or advance as shall be determined to have been caused by its own negligence or willful misconduct. 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, claim, damage or expense incurred without negligence or willful misconduct 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. The benefits of this Section shall survive the termination of this Indenture.
(c) When the Trustee incurs expenses or renders services in connection with an Event of Default, the expenses (including the reasonable charges and expenses of its counsel) and the compensation for the services are intended to constitute expenses of administration under any applicable Federal or state bankruptcy, insolvency or other similar law.
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 willful misconduct on the part of the Trustee, be deemed to be conclusively proved and established by an Officers’ Certificate 

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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 or national association 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 or national association 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 or national association 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. 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 (to the extent their respective names and addresses appear in the Security Register) or through the facilities of the Depositary. 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: 
(i) 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; 
(ii) 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 
(iii) 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, 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, 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. 

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(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 (i) 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, (ii) 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 (iii) 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. 
(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 to the Securityholders (to the extent their respective names and addresses appear in the Security Register) or through the facilities of the Depositary. 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 or national association into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation or national association resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation or national association succeeding to all or substantially all of 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 

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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 8 
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 one or more 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 such 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 the relevant series in person or by agent or proxy appointed in writing. 
If the Company shall solicit from the Securityholders of one or more 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 shall be deemed to be Securityholders for the purposes of determining whether Securityholders of the requisite proportion of Outstanding Securities of the relevant 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 the relevant 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 one or more series have concurred in any direction, consent or waiver under this Indenture, the Securities of such 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 

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on any such direction, consent or waiver, only Securities of such series that a Responsible Officer of 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 counsel shall be full protection to the Trustee. 
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 one or more series specified in this Indenture in connection with such action, any holder of a Security of any such 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 one or more 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 such series. 
ARTICLE 9 
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: 
(a) to cure any ambiguity, defect, or inconsistency herein, in the Securities of any series; 
(b) to comply with Article 10; 
(c) to provide for uncertificated Securities in addition to or in place of certificated Securities; 
(d) 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; 
(e) 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; 
(f) to make any change that does not adversely affect the rights of any Securityholder in any material respect; or 
(g) 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 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. 
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 all of the series affected by such supplemental indenture or indentures at the time Outstanding (all such series voting together as a single class), the Company, when authorized by Board Resolutions, 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 

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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 aforesaid percentage of Securities, the holders of which are required to consent to any such supplemental indenture or (iii) make any change to the subordination terms of any Security of any series that would adversely affect the holders of the Securities of such series. 
It shall not be necessary for the consent of the Securityholders of the 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 Section 10.01, this Indenture shall, with respect to the relevant 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. 
Following the execution, authentication and delivery of a supplemental indenture pursuant to the provisions of this Article or of Section 10.01, the Securities of any series affected thereby 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 determine that it is necessary or desirable, new Securities of such series so modified as to conform, in the opinion of the Board of Directors, 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. 
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, shall be provided with an Officers’ Certificate and 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. 
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 a notice, setting forth in general terms the substance of such supplemental indenture, by mail to the Securityholders (to the extent  their respective names and addresses appear in the Security Register) or through the facilities of the Depositary. 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. 
Section 9.06. Conformity with Trust Indenture Act. 
Every supplemental indenture executed pursuant to this Article shall conform to the requirements of the Trust Indenture Act as then in effect. 

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ARTICLE 10 
SUCCESSOR CORPORATION 
Section 10.01. Company May Consolidate, Etc., Only on Certain Terms. 
The Company shall not consolidate with or merge into any other Person or convey, transfer or lease all or substantially all of its properties and assets to any Person, and the Company shall not permit any Person to consolidate with or merge into the Company, unless: 
(a) in case the Company shall consolidate with or merge into another Person or convey, transfer or lease all or substantially all of its properties and assets to any Person, the Person formed by such consolidation or into which the Company is merged or the Person which acquires by conveyance or transfer, or which leases, all or substantially all of the properties and assets of the Company shall be a corporation, partnership or trust, shall be organized and validly existing under the laws of the United States of America, any State thereof or the District of Columbia and shall expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee, the due and punctual payment of the principal of and any premium and interest on all the Securities and the performance or observance of every covenant of this Indenture on the part of the Company to be performed or observed; 
(b) immediately after giving effect to such transaction, no Event of Default, and no event which, after notice or lapse of time or both, would become an Event of Default, shall have happened and be continuing; and 
(c) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that such consolidation, merger, conveyance, transfer or lease and, if a supplemental indenture is required in connection with such transaction, such supplemental indenture comply with this Article and that all conditions precedent herein provided for relating to such transaction have been complied with. 
Section 10.02. Successor Substitute. 
Upon any consolidation of the Company with, or merger of the Company into, any other Person or any conveyance, transfer or lease of all or substantially all of the properties and assets of the Company in accordance with Section 10.01 above, the successor Person formed by such consolidation or into which the Company is merged or to which such conveyance, transfer or lease is made shall succeed to, and be substituted for, and may exercise every right and power of, the Company under the Indenture with the same effect as if such successor Person had been named as the Company herein, and thereafter, except in the case of a lease, the predecessor Person shall be relieved of all obligations and covenants under the Indenture and the Securities. 
ARTICLE 11 
DEFEASANCE AND DISCHARGE 
Section 11.01. Discharge of Company’s Obligations. Except as otherwise provided in this Section 11.01, the Company may terminate its obligations under the Securities of any series and this Indenture with respect to the Securities of such series if: 
(a) all Securities of such series previously authenticated and delivered (other than destroyed, lost or wrongfully taken Securities of such series that have been replaced or Securities of such series that are paid pursuant to Section 2.07 or Securities of such series for whose payment money or securities have theretofore been held in trust and thereafter repaid to the Company, as provided in Section 11.05) have been delivered to the Trustee for cancellation and the Company has paid all sums payable by it hereunder; or 
(b) (i) the Securities of such series are scheduled to mature within one year or are to be called for redemption within one year under arrangements satisfactory to the Trustee for giving the notice of redemption, (ii) the Company irrevocably deposits in trust with the Trustee, as trust funds solely for the benefit of the holders of such Securities, money or Government Obligations or a combination thereof sufficient (unless such funds consist solely of money, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee), without consideration of any reinvestment and after payment of all Federal, state and local taxes or other charges and assessments in respect thereof payable by the Trustee, to pay and discharge the principal of (and premium, if any) and interest on the Securities of such series to maturity or redemption, as the case may be, and to pay all other sums payable by the Company hereunder, and (iii) the Company delivers to the Trustee an Officers’ Certificate and an Opinion of Counsel, in each case stating that all conditions precedent provided for herein relating to the satisfaction and discharge of this Indenture with respect to the Securities of such series have been complied with. 
With respect to the foregoing clause (a), only the Company’s obligations under Sections 7.06 and 11.05 in respect of the Securities of such series shall survive. With respect to the foregoing clause (b), only the Company’s obligations in Sections 2.03, 2.05, 2.07, 4.01, 4.02, 4.03 and 7.10 in respect of the Securities of such series shall survive until such Securities of such series are no longer outstanding. Thereafter, only the Company’s obligations in Sections 7.06 and 11.05 in respect of the Securities of such series shall survive such satisfaction and discharge. After any such irrevocable deposit, the Trustee shall acknowledge in writing the discharge of the Company’s obligations under the Securities of such series and this Indenture with respect to the Securities of such series except for those surviving obligations specified above. 

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Section 11.02. Legal Defeasance. Except as provided below, the Company will be deemed to have paid and will be discharged from any and all obligations in respect of the Securities of any series and the provisions of this Indenture (and the Trustee, at the expense of the Company, shall execute instruments in form and substance satisfactory to the Company and the Trustee acknowledging the same) if the following conditions shall have been satisfied: 
(a) the Company has irrevocably deposited in trust with the Trustee as trust funds solely for the benefit of the holders of the Securities of such series, for payment of the principal of (and premium, if any) and interest on the Securities of such series, money or Government Obligations or a combination thereof sufficient (unless such funds consist solely of money), in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee) without consideration of any reinvestment and after payment of all Federal, state and local taxes or other charges and assessments in respect thereof payable by the Trustee, to pay and discharge the principal of (and premium, if any) and interest on the outstanding Securities of such series to maturity or earlier redemption (irrevocably provided for under arrangements satisfactory to the Trustee), as the case may be; 
(b) such deposit will not result in a breach or violation of, or constitute a default under, this Indenture or any other material agreement or instrument to which the Company is a party or by which it is bound; 
(c) no Default or Event of Default with respect to the Securities of such series shall have occurred and be continuing on the date of such deposit; 
(d) the Company has delivered to the Trustee (i) either (x) a ruling directed to the Trustee received from the Internal Revenue Service to the effect that the holders of the Securities of such series will not recognize income, gain or loss for Federal income tax purposes as a result of the Company’s exercise of its option under this Section 11.02 and will be subject to Federal income tax on the same amount and in the same manner and at the same times as would have been the case if such deposit and defeasance had not occurred or (y) an Opinion of Counsel to the same effect as the ruling described in clause (x) above and based upon a change in law and (ii) an Opinion of Counsel, subject to customary assumptions and qualifications, to the effect that the holders of the Securities of such series have a valid security interest in the trust funds subject to no prior liens under the UCC; and 
(e) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, in each case stating that all conditions precedent provided for herein relating to the defeasance contemplated by this Section 11.02 of the Securities of such series have been complied with. 
The Company’s obligations in Sections 2.03, 2.05, 2.07, 4.01, 4.02, 4.03 and 7.10 with respect to the Securities of such series shall survive until such Securities are no longer outstanding. Thereafter, only the Company’s obligations in Sections 7.06 and 11.05 shall survive. 
Section 11.03. Covenant Defeasance. The Company may omit to comply with any term, provision or condition set forth in Sections 4.05, 4.06 or 4.08 (or any other specific covenant relating to the Securities of any series provided for in a Board Resolution or supplemental indenture pursuant to Section 2.01 which may by its terms be defeased pursuant to this Section 11.03), and such omission shall be deemed not to be an Event of Default under clause (a)(iii) of Section 6.01, with respect to the outstanding Securities of such series if: 
(a) the Company has irrevocably deposited in trust with the Trustee as trust funds solely for the benefit of the holders of Securities of such series, for payment of the principal of (and premium, if any) and interest on the Securities of such series, money or Government Obligations or a combination thereof in an amount sufficient (unless such funds consist solely of money, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee) without consideration of any reinvestment and after payment of all Federal, state and local taxes or other charges and assessments in respect thereof payable by the Trustee, to pay and discharge the principal of (and premium, if any) and accrued interest on the outstanding Securities of such series to maturity or earlier redemption (irrevocably provided for under arrangements satisfactory to the Trustee), as the case may be; 
(b) such deposit will not result in a breach or violation of, or constitute a default under, this Indenture or any other material agreement or instrument to which the Company is a party or by which it is bound; 
(c) no Default or Event of Default with respect to the Securities of such series shall have occurred and be continuing on the date of such deposit; 
(d) the Company has delivered to the Trustee an Opinion of Counsel, subject to customary assumptions and qualifications, to the effect that (i) the holders of the Securities of such series have a valid security interest in the trust funds subject to no prior liens under the UCC and (ii) such holders will not recognize income, gain or loss for Federal income tax purposes as a result of such deposit and covenant defeasance and will be subject to Federal income tax on the same amount and in the same manner and at the same times as would have been the case if such deposit and defeasance had not occurred; and 

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(e) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, in each case stating that all conditions precedent provided for herein relating to the covenant defeasance contemplated by this Section 11.03 of the Securities of such series have been complied with. 
Section 11.04. Application of Trust Money. Subject to Section 11.05, the Trustee or paying agent shall hold in trust money or Government Obligations deposited with it pursuant to Section 11.01, 11.02 or 11.03, as the case may be, in respect of the Securities of any series and shall apply the deposited money and the proceeds from deposited Government Obligations in accordance with the Securities of such series and this Indenture to the payment of principal of (and premium, if any) and interest on the Securities of such series; but such money need not be segregated from other funds except to the extent required by law. The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the Government Obligations deposited pursuant to Section 11.01, 11.02 or 11.03, as the case may be, or the principal and interest received in respect thereof, other than any such tax, fee or other charge that by law is for the account of the Securityholders. 
Section 11.05. Repayment to Company. Subject to Sections 7.06, 11.01, 11.02 and 11.03, the Trustee and the paying agent shall promptly pay to the Company upon request set forth in an Officers’ Certificate any money held by them at any time and not required to make payments hereunder and thereupon shall be relieved from all liability with respect to such money. Subject to applicable escheat or abandoned property laws, the Trustee and the paying agent shall pay to the Company upon written request any money held by them and required to make payments under this Indenture that remains unclaimed for two years; provided that the Trustee or such paying agent before being required to make any such payment to the Company shall cause to be published at the expense of the Company once in an Authorized Newspaper or mail to each Securityholder entitled to such money at such Securityholder’s address (as set forth in the register) notice that such money remains unclaimed and that after a date specified therein (which shall be at least 30 days from the date of such publication or mailing) any unclaimed balance of such money then remaining will be repaid to the Company. After payment to the Company, Securityholders entitled to such money must look to the Company for payment as unsecured general creditors unless an abandoned property law designates another Person, and all liability of the Trustee and such paying agent with respect to such money shall cease. 
ARTICLE 12 
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 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 otherwise; it being expressly understood that this Indenture and the obligations issued hereunder are solely corporate obligations, and that no such personal liability whatsoever 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 13 
MISCELLANEOUS PROVISIONS 
Section 13.01. 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 its successors and assigns, whether so expressed or not. 
Section 13.02. Actions by Successor. 
Any act or proceeding which by any provision of this Indenture is 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 successor of the Company. 
 

27

Section 13.03. Surrender of Company Powers. 
The Company, by an instrument in writing executed by 2/3 (two-thirds) of its Board of Directors and delivered to the Trustee, may surrender any of the powers reserved to the Company under this Indenture, including any supplemental indenture hereto, and thereupon such power so surrendered shall terminate both as to the Company and as to any successor corporation. 
Section 13.04. 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 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: Marsh & McLennan Companies, Inc., 1166 Avenue of the Americas, New York, New York 10036-2774. 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. 
Section 13.05. 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 13.06. 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 (i) a statement that the Person making such certificate or opinion has read such covenant or condition; (ii) 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; (iii) a statement that, in the opinion of such Person, he or she has made such examination or investigation as is necessary to enable him or her to express an informed opinion as to whether or not such covenant or condition has been complied with; and (iv) a statement as to whether or not, in the opinion of such Person, such condition or covenant has been complied with. 
Section 13.07. 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, 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 13.08. 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 317, inclusive, of the Trust Indenture Act, such imposed duties shall control. 
Section 13.09. 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 13.10. 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. 

28

Section 13.11. 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 hereto. 
Section 13.12. Waiver of Jury Trial. 
EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR THE TRANSACTION CONTEMPLATED HEREBY. 
Section 13.13. Force Majeure. 
In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances. 
ARTICLE 14 
SUBORDINATION OF SECURITIES 
Section 14.01. Subordination Terms. 
The Payment by the Company of the principal of, premium, if any, and interest on any series of Securities issued hereunder shall be subordinated to the extent set forth in an indenture supplemental hereto relating to such Securities. 

29

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

	MARSH & McLENNAN COMPANIES, INC.

	 
	 

	By:
	 

	 
	  Name:
	 

	 
	  Title:
	 

	 

	THE BANK OF NEW YORK MELLON, as Trustee

	 
	 

	By:
	 

	 
	  Name:
	 

	 
	  Title:EXHIBIT4-3

EXHIBIT 4.3

SIGMA ALDRICH 401(k) RETIREMENT SAVINGS PLAN

As amended and restated effective January 1, 2007

1

SIGMA ALDRICH 401(k) RETIREMENT SAVINGS PLAN

WHEREAS, Sigma-Aldrich Corporation maintains a form of profit sharing plan known as the "SIGMA-ALDRICH 401(K)  RETIREMENT SAVINGS  PLAN" ("Plan") designed to comply with the provisions of the United States Internal Revenue Code (the "Code")  and the Employee Retirement Income Security Act of 1974 ("ERISA") applicable to tax‐qualified employee benefit plans; and

WHEREAS, the Plan has been amended and restated from time to time, the last such amendment and restatement effective January 1, 2001; and

WHEREAS, this restatement of the Plan is intended to qualify under and satisfy the provisions of the Code and ERISA applicable to tax‐qualified employee benefit plans and official guidance issued thereunder, including recent final regulations under Code Section 415.

RESTATEMENT OF THE PLAN AND THE TRUST AND EFFECTIVE DATE

Sigma-Aldrich Corporation does hereby adopt an amendment and restatement of the Plan, represented by this instrument, the provisions of which shall become effective as of January 1, 2007, unless otherwise specified herein.  

The rights and duties under the Plan of individuals whose employment with Sigma-Aldrich Corporation or any adopting employer under the Plan terminated before the effective date of any provision hereof shall be determined in accordance with the provisions of the Plan in effect on the relevant dates during such employees' employment with Sigma-Aldrich Corporation or the adopting employer.

2

SECTION 1
DEFINITIONS

		
	A.
	"Account" means the sum of the Participant's accounts set out in Section 4A.

		
	B.
	"Beneficiary" means, unless otherwise elected in the manner described below, the Participant's spouse.  However, the Participant may designate a Beneficiary other than his spouse if:

		
	1.
	the spouse has waived any right to be the Participant's Beneficiary, or

		
	2.
	the Participant has no spouse, or

		
	3.
	the spouse cannot be located.

Any consent by the Participant's spouse to waive any rights to be the Participant's Beneficiary must be in writing, must acknowledge the effect of such waiver including specific consent as to the Beneficiary, and must be witnessed by a Plan representative or notary public.

In such event, the designation of a Beneficiary and the spouse's consent to waive any right to be the Participant's Beneficiary must be on the forms provided by the Retirement Savings Committee. A Participant may at any time revoke his designation of a Beneficiary or change his Beneficiary by filing written notice of such revocation or change with the Retirement Savings Committee.  However, the Participant's spouse must again consent in writing to any such change or revocation unless the spouse constitutes the sole primary Beneficiary following such change or revocation.

In the event the Participant shall not have designated a Beneficiary and leaves no surviving spouse, or in the event no Beneficiary so designated shall be alive, the amounts otherwise payable to a Beneficiary shall be paid to the person, or 

3

divided equally among all the persons, in the first of the following classes of successive preference beneficiaries in which there shall be any person surviving such Participant:

		
	1.
	the Participant's children;

		
	2.
	the Participant's parents;

		
	3.
	the Participant's brothers and sisters; and

		
	4.
	the Participant's estate.

Notwithstanding the foregoing, and notwithstanding anything in the Plan to the contrary, in the event a Participant is divorced or legally separated from his or her spouse prior to distribution of his or her Accounts, any then-existing designation of such spouse as the Participant’s Beneficiary shall automatically be null and void as of the date of such divorce or legal separation, and such spouse (or former spouse) shall be considered the Participant’s Beneficiary only if the Participant thereafter affirmatively designates the spouse (or former spouse) as such in accordance with the procedures described in this Plan.

		
	C.
	"Calendar Quarter" means any of the quarters ending on March 31, June 30, September 30 or December 31 of any calendar year.

		
	D.
	"Code" means the Internal Revenue Code of 1986, as amended.

		
	E.
	"Company" means Sigma-Aldrich Corporation, a Delaware Corporation.

		
	F.
	"Company Stock" means the common stock of the Company, including all reinvested dividends.

		
	G.
	“Compensation” means the monetary payments made to an Eligible Employee during the calendar year for services rendered while an Eligible Employee.  Such 

4

amount shall include salary, commissions, wages, overtime pay, any accrued vacation, bonuses, amounts contributed through a salary reduction arrangement to a plan which meets the requirements of Section 125 of the Code or any elective deferrals under Section 402(g)(3) of the Code, elective contributions to a Code Section 457 non-qualified deferred compensation plan and any amounts contributed through a salary reduction arrangement to a plan which meets the requirements of Section 132(f)(4) of the Code, but shall not include amounts paid or contributed to any other employee benefit plan or group insurance plan, amounts realized under any stock bonus plan or stock appreciation right, any reimbursed expenses, moving expenses, severance payments, fringe benefits and other items not paid in money.  Effective for Plan Years beginning on or after January 1, 2008, Compensation shall exclude all amounts paid after the Eligible Employee has terminated employment.

Compensation in a calendar year in excess of $200,000 or such larger amounts indexed pursuant to Section 401(a)(17) of the Code shall be disregarded for all purposes of the Plan. To the extent the term “Compensation” is used in the Plan, such term shall mean Compensation unless an alternative definition is specifically provided for the term “compensation.”

		
	H.
	"Contributions" means any of the following types of Employer Contributions:

		
	1. 
	Salary Deferral Contributions means the sum of those contributions made by payroll deduction on behalf of a Participant under Sections 3A1and 3A2.

		
	2.
	Matching Employer Contributions means those contributions made by the Employer on behalf of the Participant under Section 3A3.

		
	3.
	Fixed Employer Contributions  means the sum of those contributions made by the Employer on behalf of the Participant under Section 3A4.

		
	I.
	“Controlled Group” means the Company and all other entities required to be 

5

aggregated with the Company under Section 414(b), (c), (m) or (o) of the Code.  For purposes of Section 3I, “more than fifty percent (50%)” shall be substituted for “at least eighty percent (80%)” when applying the control tests in Section 414(b) or (c) of the Code.

		
	I-a.
	“Disability” means a physical or mental condition which, in the judgment of the Retirement Savings Committee (or its delegate), totally and permanently prevents an Eligible Employee from engaging in any substantial remunerative occupation or employment, not including any condition resulting from the Employee’s participation in the commission of a felony, or from injury received or disease contracted in the service of the Armed Forces of the United States or of any other country.  A determination of Disability shall be based upon a certification from a physician selected by the Retirement Savings Committee (or its delegate), or a determination by the Social Security Administration that the Eligible Employee is entitled to disability benefits under the Social Security Act. 

		
	J.
	"Effective Date" means January 1, 2007.

		
	K.
	“Eligible Employee” means an Employee in the employment of an Employer, but excluding any Employee who (1) is employed on a contract basis,  or (2)  is included in a unit of Employees covered by a negotiated collective bargaining agreement, under which retirement benefits were the subject of good faith bargaining, or (3) was hired by a non-US member of the Controlled Group, has transferred to an Employer and is excluded from this Plan pursuant to the terms of an employment contract, or (4) is classified on the Employer’s records as an Employee who is projected when initially employed and each anniversary thereafter to be credited with less than 1,000 Hours of Service during a consecutive 12-month period.  Upon completion of 1,000 Hours of Service during a consecutive 12-month period, an Employee who is described in clause (4) shall be considered an Eligible Employee.

		
	K-a
	"Employee" means any individual who is classified as a common law employee 

6

on the payroll records of a member of the Controlled Group.

Notwithstanding the foregoing, a person who is not considered by a member of the Controlled Group, on its payroll records, to be a common law employee, but who is later determined by a court of competent jurisdiction or an agency of the federal or an applicable state government to be an Employee shall nevertheless not be considered an Employee for purposes of this Plan for periods prior to the date on which such determination is made.  

Solely for purposes of the pension requirements of Section 414(n)(3) of the Internal Revenue Code, Leased Employees shall be treated as Employees.  

		
	L.
	"Employer" means the Company and each domestic member of the Controlled Group, other than a member which has, with the written approval of the Company, elected not to participate in the Plan. 

		
	M.
	"ERISA" means the Employee Retirement Security Income Act of 1974, as now in effect or as hereafter amended.

		
	N.
	"Hours of Service" for an Employee compensated on the basis of a certain amount for each hour worked during a given period means:

		
	1.
	Each hour for which an Employee is directly or indirectly paid or entitled to payment by a member of the Controlled Group for the performance of duties and on account of a period of time during which no duties are performed (irrespective of whether the employment relationship has terminated) due to vacation, holiday, illness, incapacity (including disability), layoff, jury duty, military duty or leave of absence.

For the purpose of this subparagraph (1) no Hours of Service shall be credited to the Employee for payments which reimburse medical expenses incurred by the Employee or which are made under a plan maintained solely for the purpose of complying with applicable worker's 

7

compensation, unemployment compensation or disability insurance laws, and (2) no more than 501 Hours of Service are required to be credited to an Employee on account of any single continuous period during which the Employee performs no duties.

An Hour of Service shall not be counted more than once. Hours of Service shall be calculated in accordance with Department of Labor Regs. §2530.200b‐2(b) and (c);

		
	2.
	For an Employee who is not compensated on the basis of a certain amount for each hour worked during a given period, credit shall be given at the rate of one hundred ninety (190) Hours of Service for each calendar month of employment with a member of the Controlled Group for which he would be credited with one or more Hours of Service if 1 above applied.

Solely for vesting purposes, an individual who is absent from work for maternity or paternity reasons shall receive credit for the Hours of Service that would otherwise have been credited to such individual but for such absence, or in any case in which such hours cannot be determined, 8 hours of service per day of such absence.  For purposes of this paragraph, an absence from work for maternity or paternity reasons means an absence (1) by reason of the pregnancy of the individual, (2) by reason of a birth of a child of the individual, (3) by reason of the placement of a child with the individual in connection with the adoption of such child by such individual, or (4) for purposes of caring for such child for a period beginning immediately following such birth or placement.

Each hour of paid leave of absence taken by an Employee pursuant to the terms of the Family and Medical Leave Act of 1993 (“FMLA”) shall be treated as an Hour of Service to the same extent as any other hour of paid leave of absence, pursuant to the rules described above.  Hours of unpaid leave of absence pursuant to FMLA shall be taken into account for 

8

purposes of benefit accrual, eligibility for participation, or vesting only to the extent that such credit is provided to other Employees who are on unpaid leave of absence.

		
	O.
	“Leased Employee” means any person (other than an Employee) who, pursuant to an agreement between a member of the Controlled Group and any other person, has performed services for a member of the Controlled Group (or for a member of the Controlled Group and related persons determined in accordance with Section 414(n)(6) of the Code) on a substantially full-time basis for a period of at least one (1) year, provided such services are performed under the primary direction or control of a member of the Controlled Group.

		
	P.
	“Participant” means any one or all of the following:

		
	1.
	“Active Participant”:  an Eligible Employee who is or becomes eligible to participate in the Plan under Section 2 and is not a Former Participant.

		
	2.
	“Former Participant”:  a Participant who ceases to be an Eligible Employee but still has an Account under the Plan. 

A Part-Time Participant shall be included in the definition of a Participant.

		
	Q.
	"Part-Time Participant" means an Eligible Employee who is or becomes eligible to participate in the plan under Section 2 and who is classified in the Employer’s records as a part‐time Employee.

		
	R.
	”Plan" means the Sigma-Aldrich 401 (k) Retirement Savings Plan.

		
	S.
	"Plan Administrator" means the Company.

		
	T.
	"Plan Year" means each twelve month period commencing on January 1 and ending on December 31.

9

		
	U.
	"Qualified Plan" means any Plan qualified under Section 401 of the Code. For purposes of Sections 14 and 15 only, the term "Qualified Plan" also includes a simplified employee pension described in Section 408(k) of the Code.

		
	V.
	“Retirement” means termination of employment with all members of the Controlled Group at or after age 65. 

		
	W.
	"Retirement Savings Committee" means the individuals appointed in accordance with the provisions of Section 11 for the purposes of administering the Plan.

		
	W-a.
	"Rollover Account" means the account maintained for a Participant to record amounts transferred to the Trust Fund pursuant to Section 3F and adjustments relating thereto.

		
	X.
	"Trustee" means the individual or entity referred to in Section 9A to administer the funds under the Plan.

		
	Y.
	"Valuation Date" means the last day of any Calendar Quarter or more frequent period as determined by the Company.

		
	Z.
	"Year of Service" means, for any Employee, a twelve month period of employment.  An Employee shall accrue 1/12th of a Year of Service for each calendar month in which the Employee is credited with an Hour of Service.

10

SECTION 2
ELIGIBILITY

		
	A.
	Eligibility.  All Eligible Employees who were Participants on December 31, 2006 shall remain Participants on January 1, 2007.  All other Eligible Employees shall become Participants thirty (30) days from their date of employment or, if later, on the date they become Eligible Employees.  Notwithstanding the foregoing, except as otherwise provided herein, an individual who becomes an Eligible Employee on the date his employer is acquired by the Company and becomes an Employer shall become a Participant as soon as administratively feasible after the date of the acquisition.   An Eligible Employee who was an employee of Advanced Separation Technologies Inc. on October 6, 2006 (other than the President/CEO and the VP/ Corporate Secretary) shall be eligible to participate in the Plan effective immediately for payroll periods ending on and after October 6, 2006.

An Eligible Employee (other than an Eligible Employee who becomes an Eligible Employee on the date his employer is acquired by the Company and becomes an Employer) who first performs services on or after August 1, 2004, shall be deemed to have elected to make a Salary Deferral Contribution at a rate of 6% of Compensation, unless such Eligible Employee affirmatively elects not to make a Salary Deferral Contribution or to make a Salary Deferral Contribution at a different rate of Compensation.  Such election must be made in a form acceptable to the Retirement Savings Committee before the date on which he would otherwise be deemed to have elected to make a Salary Deferral Contribution pursuant to procedures established by the Retirement Savings Committee.

Any election (other than a deemed election) must be made by the Participant within the time period established by the Retirement Savings Committee.  Any election made after the established cutoff date for a month shall not be effective with respect to the succeeding month.  Except for occasional, bona fide administrative considerations, Salary Deferral Contributions made pursuant to a Participant’s Salary Deferral election cannot precede the earlier of (a) the 

11

performance of services relating to the contribution and (b) when the Compensation that is subject to the election would be currently available to the Participant in the absence of such election.

An Employee who is reemployed by the Employer and who previously was a Participant shall become eligible to participate on the first day of the month following his date of reemployment as an Eligible Employee.

12

SECTION 3
CONTRIBUTIONS

		
	A.
	Employer Contributions.  Subject to the limitations imposed elsewhere under the Plan, the Employer shall contribute the following amounts with respect to each Active Participant:

		
	1.
	A Salary Deferral Contribution in accordance with the election (or deemed election as provided in Section 2) made by each Active Participant.  Any such Contribution shall be from 1% to 15% of the amount of the Participant's Compensation, with respect to Highly Compensated Employee (as defined in Section 3G2 of the Plan), and from 1% to 75% of the amount of the Participant's Compensation, with respect to Non-Highly Compensated Employees (as defined in Section 3G2 of the Plan) for the payroll period (in 1% increments), to be made by payroll deduction, but, except as provided in Section 3A2, a Participant's Salary Deferral Election or Contribution shall not exceed the Applicable Dollar Limit determined in accordance with Section 402(g) of the Code.

		
	2.
	For Plan Years beginning after December 31, 2001, all Participants who are eligible to make Salary Deferral Contributions under the Plan and who have attained age fifty (50) before the close of the Plan Year shall be eligible to make catch-up contributions in accordance with, and subject to the limitations of, Section 414(v) of the Code and regulations issued thereunder.  Such catch-up contributions shall not be taken into account for purposes of the provisions of the Plan implementing the limitations of Sections 402 (g) and 415 of the Code.  The Plan shall not be treated as failing to satisfy the provisions of the Plan implementing the requirements of Sections 401(k)(3), 401(k)(11), 401(k)(12), 410(b), or 416 of the Code, as applicable, by reason of such catch-up contributions.  Any such catch-up contribution shall be from 1% to 75% of the amount of the Participant’s Compensation for the payroll period (in 1% increments), to be made by 

13

payroll deduction, but not in excess of the limits imposed by Section 414(v) of the Code.

		
	3.
	Effective January 1, 2005, a Matching Employer Contribution equal to 60% of the contribution percentage elected by the Participant pursuant to Section 3A1, shall be contributed each payroll period to the Plan; provided, however, the maximum contribution percentage of the Participant which shall be matched is 6%.  Matching Employer Contributions shall be based on Compensation paid during the period that the Participant elects to make Salary Deferral Contributions pursuant to Section 3A1 up to the maximum amount of Compensation that may be taken into account for the Plan Year.  The Matching Employer Contribution shall be contributed as soon as administratively feasible after the last day of the payroll period to which they apply or such later date as may be determined by the Company.  Matching Employer Contributions shall not be made with respect to catch-up contributions described in Section 3A2.

		
	4.
	For each Calendar Quarter, a Fixed Employer Contribution of one hundred fifty dollars ($150) for each Active Participant (seventy‐five dollars ($75) for each active Part‐Time Participant).  A Participant shall receive an allocation of the Fixed Employer Contribution if and only if the Participant is an Active Participant on the first day of such Calendar Quarter.

Notwithstanding the amount of Employer contributions (as described above) which would otherwise be contributed by the Employer, the amount of Employer contributions for any Plan Year are conditioned on their deductibility under Section 404 of the Code.

		
	B.
	Timing of Employer Contributions.  All Employer Contributions for each Plan Year shall be delivered to the Trustee within the time permitted by the Code.

		
	C.
	Rate of Employer Contributions.  An Active Participant may change the rate at which Salary Deferral Contributions are being made on his behalf by the Employer 

14

by payroll reduction by giving instructions to the Plan Administrator as prescribed by the Plan Administrator. A Participant's change will be given effect as soon as administratively feasible after the Participant's election is received by the Company.  The election must be received by the Company within the time limits set out in Section 2.

		
	D.
	Suspension or Resumption of Employer Contributions.  A Participant who has elected to make Salary Deferral Contributions may suspend his contributions at any time.  A Participant's election will be given effect as soon as administratively feasible after the Participant's election is received by the Company.  An election of resumption of participation shall be given effect consistent with the provisions of Section 3C.  A Participant’s Salary Deferral Contributions will automatically stop if the Participant ceases to be an Eligible Employee. If the Participant again becomes an Eligible Employee, he may elect to resume making Salary Reduction Contributions. An election by an Eligible Employee to suspend his contributions shall not result in an event which would entitle the Participant to receive a distribution of his Account

		
	E.
	Election of Non‐Participation.  Notwithstanding any other provisions of the Plan, an Eligible Employee who elected not to make Salary Deferral Contributions when first eligible to do so may elect at any time to start making Salary Deferral Elections.  An election to begin making contribution shall be given effect consistent with the provisions of Section 3C.  

		
	F.
	Rollover Amount From Other Plans.

		
	1.
	(a)    An Eligible Employee who is a distributee of any Eligible Rollover Distribution may elect on forms prescribed by the Plan Administrator to have such distribution paid directly to this Plan.  Such distribution shall be made in the form of a direct‐trustee‐to‐trustee transfer or in the form of a rollover by the Eligible Employee to this Plan.

15

		
	(b)
	For purposes of this Section, “Eligible Rollover Distribution” means any distribution to an employee of all or any portion of the balance to the credit of the employee in a qualified trust other than (i) a distribution which is one of a series of substantially equal periodic payments (not less frequently than annually) made for the life (or life expectancy) of the employee or the joint lives (or joint life expectancies) of the employee and the employee’s designated beneficiary, or a distribution which is for a specified period of 10 years or more, (ii) a distribution required under Section 401(a)(9) of the Code, (iii) an amount distributed on account of hardship, or (iv) a portion of a distribution that consists of after-tax employee contributions which are not includible in gross income.

		
	(c)
	Any trustee‐to‐trustee transfer made pursuant to this Section which results in any portion of a distribution being excluded from gross income shall be treated as a rollover contribution described in Section 408(d)(3) of the Code.

		
	2.
	The Retirement Savings Committee shall develop such procedures and may require such information from an Eligible Employee desiring to make such a transfer or rollover, as it deems necessary or desirable to determine that the proposed transfer or rollover will meet the requirements of this Section.  The amount transferred shall be deposited in the Trust Fund and shall be credited to a Rollover Account.  The Eligible Employee shall be 100% vested in such account, shall share in income allocations, but shall not share in Employer contributions.  Upon termination of employment, the total amount of the Eligible Employee's Rollover Account shall be distributed in accordance with Section 6.

		
	G.
	Limitation on Salary Deferral Contributions.  To ensure continued qualification of the Plan, a test (the “Actual Deferral Percentage Test" or "ADP Test") must be met for each Plan Year. The ADP Test shall be conducted in accordance with the following rules:

16

		
	1.
	Actual Deferral Percentage.  The Actual Deferral Percentage for either of two test groups of Participants for any Plan Year shall be the average for a group (calculated separately for each Participant in such group) obtained by dividing (a) by (b) below, multiplied by one hundred:

		
	(a)
	the Salary Deferral Contributions actually made on behalf of each Participant for such Plan Year (before the limitations contained in Section 3K have been applied), and

		
	(b)
	each such Participant's Compensation for the Plan Year.

Compensation for purposes of this Section 3G1 shall mean compensation within the meaning of Code Section 414(s)(1) and (3).

Employer contributions on behalf of any Participant shall include: (1) any Salary Deferral Contributions (other than catch-up contributions) made pursuant to the Participant's election form (or deemed election) (including Excess Contributions of Highly Compensated Employees), but excluding (A) excess deferrals as defined in Treas. Reg. §1.402(g)-1(a) of Non-Highly Compensated Employees that arise solely from Salary Deferral Contributions made under the Plan or plans of this Employer and (B) Salary Deferral Contributions that are taken into account in the CP test (provided the ADP test is satisfied both with and without exclusion of these Salary Deferral Contributions); and (2) qualified nonelective employer contributions that meet the requirements of Treas. Reg. §1.401(k)-2(a)(6), if any.  For purposes of computing ADPs, an Employee who would be a Participant but for the failure to make Salary Deferral Contributions shall be treated as a Participant on whose behalf no Salary Deferral Contributions are made.

The ADP for any Participant who is a Highly Compensated Employee for the Plan Year and who is eligible to have Salary Deferral Contributions 

17

(and qualified nonelective contributions) allocated to his accounts under two or more arrangements described in Section 401(k) of the Code that are maintained by an Employer, shall be determined as if such Salary Deferral Contributions (and, if applicable, such qualified nonelective contributions) were made under a single arrangement.  If a Highly Compensated Employee participates in two or more arrangements described in Section 401(k) of the Code of an Employer that have different plan years, all Salary Deferral Contributions made during the Plan Year under all such arrangements shall be aggregated.  For plan years beginning before 2006, all such arrangements ending with or within the same calendar year shall be treated as a single arrangement.  Notwithstanding the foregoing, certain plans shall be treated as separate if mandatory disaggregated under regulations under Section 401(k) of the Code.

In the event this Plan satisfies the requirements of Section 401(k), 401(a)(4), or 410(b) of the Code only if aggregated with one or more other plans, or if one or more other plans satisfy the requirements of such Sections of the Code only if aggregated with this Plan, then this section shall be applied by determining the ADP of Participants as if all such plans were a single plan.  Plans may be aggregated in order to satisfy Section 401(k) of the Code only if they have the same Plan Year and use the same ADP testing method.

In the event this Plan satisfies the requirements of Section 401(k), 401(a)(4), or 410(b) of the Code only if aggregated with one or more other plans, or if one or more other plans satisfy the requirements of such Sections of the Code only if aggregated with this Plan, then this Section 3G shall be applied by determining the ADP of Participants as if all such plans were a single plan.  Plans may be aggregated in order to satisfy Section 401(k) of the Code only if they have the same Plan Year and use the same ADP testing method.

18

		
	2.
	Participant Groups.  Participants at any time during a Plan Year shall be separated into two test groups as of the last day of each Plan Year as follows:

		
	(a)
	Highly Compensated:  This group shall consist of those Participants who, within the meaning of Code Section 414(q):

		
	(i)
	for the Plan Year or the prior Plan Year, were at any time a 5% Owner; or

		
	(ii)
	for the prior Plan Year, received compensation in excess of $80,000

		
	(b)
	Non‐Highly Compensated:  This group shall consist of all remaining Participants who are not Highly Compensated.

A 5% Owner for purposes of this Section 3G2 shall be any Employee for any year if at any time during such year such Employee was a 5-percent owner (as defined in Section 416 (i) (1) of the Code) of an Employer.

Compensation for purposes of this Section 3G2 shall mean compensation within the meaning of Code Section 414(q)(4).

The dollar amounts under subsection (a)(ii) shall be indexed at the same time and in the same manner as under Section 415(d) of the Code, except that the base period shall be the calendar quarter ending September 30, 1996.

A Participant is a Highly Compensated Employee for a particular Plan Year if he meets the definition of a Highly Compensated Employee in effect for that Plan Year.  Similarly, a Participant is a Non-Highly Compensated Employee for a particular Plan Year if he does not meet the definition of a Highly Compensated Employee in effect for that Plan Year.

19

		
	3.
	ADP Test.  For any Plan year, the Actual Deferral Percentage for the Highly Compensated Group may not exceed the greater of (a) or (b) below:

		
	(a)
	the Actual Deferral Percentage for the Non-Highly Compensated Group multiplied by 1.25, or

		
	(b)
	the lesser of (i) the Actual Deferral Percentage for the Non-Highly Compensated Group multiplied by 2 and (ii) the Actual Deferral Percentage for the Non-Highly Compensated Group plus two percent (2%).

This testing shall be done on the basis of the current year method.

The Company can elect to use prior year testing for a Plan Year only if the Plan has used current year testing for each of the preceding five Plan Years or if, as a result of a merger or acquisition described in Section 410(b)(6)(C)(i) of the Code, the Company maintains both a plan using prior year testing and a plan using current year testing and the change is made within the transition period described in Section 410(b)(6)(C)(ii) of the Code.

For purposes of the ADP test, Salary Deferral Contributions and qualified nonelective employer contributions must be made before the end of the 12-month period immediately following the Plan Year to which the contributions relate.

Salary Deferral Contributions of Highly Compensated Employees in excess of the amount permitted by the ADP test are hereby referred to as “Excess Contributions.”

20

		
	4.
	Limitations on Salary Deferral Contributions for Highly Compensated Employees.  The Retirement Savings Committee is authorized to reduce to the extent necessary the deferral percentage under Section 3G3 for Highly Compensated Employees, prior to the close of the Plan Year if the Retirement Savings Committee reasonably believes that such reduction is necessary to prevent the Plan from failing both tests in Section 3G3.  Such adjustments shall be made in accordance with rules prescribed by the Retirement Savings Committee.

		
	5.
	Adjustments to Meet ADP Test.  The Retirement Savings Committee may, in its sole discretion, apply any of the corrective devices described in this Section in any combination and in any order.  In lieu of making qualified nonelective employer contributions, the Retirement Savings Committee may, in its sole discretion, reduce the amount of Salary Deferral Contributions that any Highly Compensated Employee may contribute for the Plan Year to avoid Excess Contributions as provided in Section 3A4.

If the Plan permits catch-up contributions pursuant 3A2, Salary Deferral Contributions otherwise classified as Excess Contributions shall be treated as catch-up contributions for Participants eligible to make catch-up contributions, subject to the limits of Section 3A2.

Alternately, the Employer may, in the Company’s sole discretion, make an additional Matching Employer Contribution on behalf of Non-Highly Compensated Employees up to such an amount that, when allocated to such Participants’ accounts, the resulting allocations will satisfy the ADP test.  Such additional Matching Employer Contributions shall be allocated to the Participants’ Salary Deferral Contributions Accounts as of the last day of the Plan Year for which the contributions are made.

Alternately, the Retirement Savings Committee may, in its sole discretion, specify that a portion of the Matching Employer Contribution allocated to the accounts of Non-Highly Compensated Employees be designated as a 

21

qualified matching contribution to the extent required to satisfy the ADP test of Section 401(k) of the Code pursuant to Treas. Reg. §1.401(k)-2(b)(3); provided that, such a designation satisfies the nondiscrimination requirements of Treas. Reg. §§1.401(k) and 1.401(m).  The portion of a Matching Employer Contribution that is designated as a qualified matching contribution pursuant to the preceding sentence shall be allocated to the Participants’ Salary Deferral Contributions Accounts as of the last day of the Plan Year for which the contribution was made.

In the event the ADP test of Section 401(k) of the Code is not satisfied after application of such corrective devices for a Plan Year, the Retirement Savings Committee may, in its sole discretion, direct a refund of the Excess Contributions and income attributable thereto at such times and in such manner as is permitted by the Code and Treasury Regulations.  The aggregate dollar amount of such Excess Contributions shall be determined by reducing the Salary Deferral Contributions of Highly Compensated Employees beginning with the Highly Compensated Employee with the highest actual deferral ratio (“ADR”) in accordance with Treas. Reg. §1.401(k)-2(b)(2)(ii).  The Salary Deferral of the Highly Compensated Employee with the highest ADR shall be reduced to the extent necessary to reduce the ADR of such Participant so that the ADP test is satisfied or so that such Participant’s ADR is equal to the ADR of the Highly Compensated Employee with the next highest ADR.  This reduction shall be repeated until the ADP test is satisfied.  The aggregate dollar amount of Excess Contributions shall be equal to the total amount of such Salary Deferral Contribution reductions.  The aggregate amount of Excess Contributions so determined shall be distributed to Highly Compensated Employees using the “dollar-leveling method.”  Under this method, Excess Contributions shall be distributed first to the Highly Compensated Employee with the highest dollar amount of Salary Deferral Contributions so that such Participant’s Salary Deferral Contributions equal the dollar amount of the Salary Deferral Contributions of the Highly Compensated Employee with the next highest dollar amount of Salary Deferral 

22

Contributions.  If the total amount distributed is less than the aggregate amount of Excess Contributions, this method shall be repeated until the aggregate amount of Excess Contributions has been distributed.  After such refunds are made, the Plan shall be treated as meeting the ADP test regardless of whether the Plan would satisfy such ADP test if recalculated.  Any Matching Employer Contribution that was in fact already made on behalf of such a Participant that is attributable to such a refunded Excess Contribution shall be forfeited.  Income attributable to any refund shall be determined in accordance with a method that satisfies Treas. Reg. §1.401(k)-2(b)(2)(iv).

		
	H.
	Limitation on Matching Employer Contributions.  To ensure continued qualification of the Plan, a test (the “Average Contribution Percentage Test” or “ACP Test”) must be met for each Plan Year.  The ACP Test shall be conducted in accordance with the following rules:

		
	1.
	Contribution Percentage.  The Average Contribution Percentage for either of the two test groups of Participants for any Plan Year shall be the average for a group (calculated separately for each Participant in such group) obtained by dividing (a) by (b) below, multiplied by one hundred:

		
	(a)
	the Matching Employer Contributions actually made on behalf of each Participant for such Plan Year, and

		
	(b)
	each such Participant's Compensation for the Plan Year.

Compensation for purposes of this Section 3H1 shall mean Compensation within the meaning of Code Section 414(s)(1) and (3).

The Contribution Percentage for any Participant who is a Highly Compensated Employee for the Plan Year and who is eligible to have contribution percentage amounts (as defined below) allocated to his accounts under two or more arrangements described in Section 401(a) of the Code or Section 401(k) of the Code that are maintained by an 

23

Employer, shall be determined as if the total of such contribution percentage amounts were made under each plan and arrangement.  If a Highly Compensated Employee participates in two or more such plans or arrangements that have different plan years, all contribution percentage amounts made during the Plan Year under all such plans and arrangements shall be aggregated.  For plan years beginning before 2006, all such arrangements ending with or within the same calendar year shall be treated as a single arrangement.  Notwithstanding the foregoing, certain plans shall be treated as separate if mandatory disaggregated under regulations under Section 401(m) of the Code.

In the event this Plan satisfies the requirements of Section 401(m), 401(a)(4), or 410(b) of the Code only if aggregated with one or more other plans, or if one or more other plans satisfy the requirements of such Sections of the Code only if aggregated with this Plan, then this section shall be applied by determining the CP of Participants as if all such plans were a single plan.  Plans may be aggregated in order to satisfy Section 401(m) of the Code only if they have the same Plan Year and use the same CP testing method.

“Contribution percentage amounts” means the sum of Matching Employer Contributions and qualified nonelective contributions (to the extent not taken into account for purposes of the ADP test) made under the Plan on behalf of the Participant for the Plan Year.  Such contribution percentage amounts shall not include Matching Employer Contributions that are forfeited either to correct Excess Aggregate Contributions or because the contributions to which they relate are Excess Salary Deferral Contributions, Excess Contributions, or Excess Aggregate Contributions.  The Company also may elect to use Salary Deferral Contributions in the contribution percentage amounts so long as the ADP test is met before the Salary Deferral Contributions are used in the CP test and continues to be met following the exclusion of those Salary Deferral Contributions that are used to meet the CP test.

24

		
	2.
	Participant Groups.  Participants at any time during a Plan Year shall be separated into two test groups as of the last day of each Plan Year determined in the same manner as in Section 3G2.

		
	3.
	CP Test.  For any Plan Year, the Contribution Percentage for the Highly Compensated Group may not exceed the greater of (a) or (b) below:

		
	(a)
	the Contribution Percentage for the Non‐Highly Compensated Group multiplied by 1.25, or

		
	(b)
	the lesser of (i) the Contribution Percentage for the Non‐Highly Compensated Group multiplied by 2 and (ii) the Contribution Percentage for the Non‐Highly Compensated Group plus two percent (2%).

The Company can elect to use prior year testing for a Plan Year only if the Plan has used current year testing for each of the preceding five Plan Years or if, as a result of a merger or acquisition described in Section 410(b)(6)(C)(i) of the Code, the Company maintains both a plan using prior year testing and a plan using current year testing and the change is made within the transition period described in Section 410(b)(6)(C)(ii) of the Code.

For purposes of the CP test, Matching Employer Contributions and qualified matching contributions will be considered made for the Plan Year if made no later than the end of the 12-month period beginning on the day after the close of the Plan Year.

Matching Employer Contributions of Highly Compensated Employees in excess of the amount permitted by the CP test are hereby referred to as “Excess Aggregate Contributions.”

25

		
	4.
	Restrictions on Matching Employer Contributions.  The Retirement Savings Committee is authorized to reduce to the extent necessary the maximum amount of Matching Employer Contributions contributed on behalf of any Highly Compensated Employee prior to the close of the Plan Year if the Retirement Savings Committee reasonably believes that such reduction is necessary to prevent the Plan from failing both tests in Section 3H.  Such reduction shall be made in accordance with rules prescribed by the Retirement Savings Committee.

		
	5.
	Adjustments to Meet CP Test.  The Retirement Savings Committee may, in its sole discretion, apply any of the corrective devices described in this Section in any combination and in any order.  The Employer may, in the Company’s sole discretion, make an additional Matching Employer Contributions on behalf Non-Highly Compensated Employees, which shall be allocated in proportion to their Salary Deferral Contributions, up to an amount necessary to satisfy the CP test of Section 401(m) of the Code.

Alternately, the Retirement Savings Committee may, in its sole discretion, specify that all or any part of the Salary Deferral Contributions of Non-Highly Compensated Employees may be treated as a Matching Employer Contribution in accordance with Treas. Reg. §1.401(m)-2(a)(6) to the extent required to satisfy the CP tests of Section 401(m) of the Code.  Treas. Reg. §1.401(m)-2(a)(6) is hereby incorporated by reference.

The Retirement Savings Committee may, in its sole discretion, direct a refund of the Excess Aggregate Contributions and any income attributable thereto (as determined in accordance with Treas. Reg. §1.401(m)-2(b)(2)(iv)) to the extent vested and forfeit to the extent not vested.  The aggregate dollar amount of such Excess Aggregate Contributions shall be determined by reducing Matching Employer Contributions and recharacterized Salary Deferral Contributions, if any, of Highly Compensated Employees beginning with the individuals with the highest contribution percentage, all only to the extent necessary to cause the 

26

actual contribution ratio to equal the highest permitted actual contribution ratio, in accordance with Treas. Reg. §1.401(m)-2(b)(2)(ii).  The aggregate amount so determined shall be forfeited or distributed to Highly Compensated Employees on the basis of the amount of contributions by each such Participant, reducing the highest dollar amount of the respective Highly Compensated Employee as necessary to refund or forfeit such aggregate amount, in accordance with Treas. Reg. §1.401(m)-2(b)(2)(iii).  After such refunds and forfeitures are made, the Plan is treated as meeting the CP test regardless of whether the Plan would satisfy such CP test if recalculated.  Income attributable to any distribution shall be determined in accordance with a method that satisfies Treas. Reg. §1.401(m)-2(b)(2)(iv).  Such distributions shall be made within twelve months after the close of the Plan Year for which such Excess Aggregate Contributions were made and shall be made on the basis of the respective portions of such amounts attributable to each Highly Compensated Employee.

		
	I.
	Other Limitations on Total Additions to Participant Accounts.  The contributions or other amounts otherwise allocated to a Participant’s Account under this Plan shall be limited to the extent required, and only to the extent required by provisions of Section 415 of the Code and rulings, notices and regulations issued thereunder and which are hereby incorporated by reference into this Plan.  In calculating these limits, the following rules shall apply:

		
	1.
	The limitation year shall mean the calendar year.

		
	2.
	If as a result of the application of Code Section 415 there is an excess amount allocated to the Participant's Account, the excess amount shall be eliminated pursuant to the following:

		
	(a)
	The excess amount shall be distributed to Participant to the extent of his salary deferrals; or

		
	(b)
	If after the application of subparagraph (a) an excess amount still 

27

exists, the excess amount in the Participant's Account shall be used to reduce Employer contributions (including any allocation of forfeitures) for such Participant in the next limitation year, and each succeeding limitation year if necessary; or

		
	(c)
	If after the application of subparagraph (a) and (b) an excess amount still exists and the Participant is not covered by the Plan at the end of the limitation year, the excess amount shall be held unallocated in a suspense account.  The suspense account shall be applied to reduce proportionately future Employer contributions for all remaining Participants in the next limitation year, and each succeeding limitation year, if necessary.  If a suspense account is in existence at any time during the limitation year pursuant to this paragraph, it shall not participate in the allocation of the Trust's investment gains and losses.

		
	(d)
	The excess amount will be attributable to each Account as follows: 

		
	(i)
	First, as a Salary Deferral Contribution under this Plan;

		
	(ii)
	Second, as a Matching Contribution under this Plan.

		
	3.
	If as a result of the allocation of forfeitures, a reasonable error in determining the amount of elective deferrals (within the meaning of Section 402(g)(3) of the Code), or other limited factors and circumstances, the annual additions under the Plan for a particular Participant exceed the limitations in this Section, the excess amounts will not be deemed annual additions for the Limitation Year and the excess amounts in that Participant’s account shall be allocated and reallocated among the other Participants in the Plan according to their relative levels of compensation for such Plan Year; provided, however, that if such allocation or reallocation of the excess amounts causes the limitations to be exceeded for each Participant for that Plan Year, then those excess amounts shall be 

28

held unallocated in a suspense account.  If such a suspense account exists in any subsequent Plan Year, all amounts in the suspense account must be allocated and reallocated to Participants’ accounts (subject to the limitations in this Section) before any employer contributions or employee contributions which would constitute annual additions may be made to the Plan for that Plan Year.

		
	4.
	Compensation for purposes of this Section 3I shall mean Compensation within the meaning of Code Section 415(c)(3).

		
	J.
	Isotec One-Time Contribution.  The Company shall make a one-time Employer Matching Contribution to the account of each Participant that became an Employee of the Company, or a subsidiary of the Company, as a result of the acquisition of Isotec, Inc. by the Company in the amount equal to said Employee’s Matching Contribution that said Employee would have received, under the defined contribution plan then being sponsored by Isotec, Inc., for the year ended December 31, 2001, as if said acquisition had not occurred.  In no event shall the contribution to the account of any participant exceed six percent (6%) of such Participant’s Compensation during 2001 prior to the acquisition of Isotec, Inc. by the Company.

29

SECTION 4
PARTICIPANTS’ ACCOUNTS AND INVESTMENT FUNDS

		
	A
	Maintenance of Contribution Accounts:  Five individual accounts shall be maintained with respect to each Participant:

		
	1.
	the Salary Deferral Account will hold any Salary Deferral Contributions (including any catch-up contributions) made on a Participant's behalf,

		
	2.
	the Company Match Account will hold any Employer Matching Contributions made on the Participant's behalf,

		
	3
	the Fixed Account will hold any Fixed Employer Contributions made on the Participant's behalf as well as those contributions made to the Plan prior to January 1, 1993 (excluding any amounts held in Transferred Accounts as specified below),

		
	4.
	the Rollover Account will hold any transfer made under Section 3F, and

		
	5
	the Transferred Accounts will hold any account balances transferred to this Plan as the result of plan mergers, as set out in Appendix II.

The Participant's Account shall mean the sum of the accounts in Section 4A1, 2, 3, 4 and 5.

		
	B.
	Investment of Participant's Account.  The Investment Funds shall consist of funds which at any date the Company shall make available for the investment of the Participant's Account.  A Participant's Account and the Salary Deferral, Matching and Fixed Employer Contributions for the Plan Year may be invested by the Participant in one or more of the Investment Funds selected by the Company as specified under Section 4B in multiples of 5% or such other percentages as established by the Company.  Each Participant shall direct as prescribed by the 

30

Retirement Savings Committee the allocation of such Account and the Salary Deferral, Matching and Fixed Employer Contributions between the funds of Section 4B, with such direction continuing in effect until a notice of change is received by the Retirement Savings Committee.  If no investment direction is in effect, the Participant's Account and the Salary Deferral, Matching and Fixed Employer Contributions for the Plan Year will be invested in the fund deemed appropriate by the Retirement Savings Committee; currently that fund is the Fidelity Freedom Fund that is appropriate for the Participant's respective age.

Each Participant may only direct that up to 50% of his Contributions for the Plan Year may be invested in Company Stock.

Changes shall take effect for the Participant's Account and Salary Deferral, Matching and Fixed Employer Contributions within the time period set by the Retirement Savings Committee, which shall be applied in a manner that prohibits discrimination in favor of Highly Compensated Employees.

As of each Valuation Date, a valuation of each of the funds shall be performed by the Trustee in order to determine the market values of each fund and the reconciliation of the fund from the prior Valuation Date.

		
	C.
	Investment in Company Stock.  A Participant may elect to direct that up to fifty percent (50%) of the value of the Participant’s Account be invested in Company Stock (in multiples of 5% or such other percentages as established by the Company).  Each such Participant may subsequently direct the Retirement Savings Committee to invest that portion of his Account which is invested in Company Stock in accordance with his elections as provided in Section 4B above.

    
Elections to invest a portion of a Participant’s Account in Company Stock or to move such portions of the Account out of Company Stock shall be made in the manner specified in procedures adopted by the Retirement Savings Committee and at such times as specified in procedures adopted by the Retirement Savings Committee.  Such manner and time shall be applied in a manner which prohibits 

31

discrimination in favor of Highly Compensated Employees.

		
	D.
	ERISA Section 404(c) Plan.  This Plan is intended to be an ERISA 404(c) Plan, as defined in ERISA Section 404(c) and the regulations thereunder.  As such, the Plan will comply with the provisions of ERISA Section 404(c) and the regulations thereunder. 

32

SECTION 5
VESTING

		
	A.
	Vested Accounts.  A Participant shall be fully vested in his Salary Deferral Account, Rollover Account and Prior Account at all times.  A Participant shall be fully vested in his Company Match Account and Fixed Account, regardless of Years of Service, if he dies, attains age 65, or incurs a Disability while an Employee.

		
	B.
	Termination of Employment.  A Participant, whose employment with all members of the Controlled Group terminates prior to January 1, 2002, shall be vested in the amounts allocated to his Company Match Account and the Fixed Account equal to the percentage obtained from the following vesting schedule on the basis of the number of full Years of Service which he has completed as of the date of his termination of employment.

VESTING SERVICE 

Full Years of Service                                        Vesting Percentage

Less than 3                                                              0% 
3                                                                             20 
4                                                                             40
5                                                                             60
6                                                                             80
7 or more                                                              100

A Participant, whose employment with all members of the Controlled Group terminates after December 31, 2001, shall be vested in the amounts allocated to his Company Match Account and Fixed Account equal to the percentage obtained from the following vesting schedule on the basis of the number of full Years of Service which he has completed as of the date of his termination of employment.

33

VESTING SERVICE 

Full Years of Service                                        Vesting Percentage

Less than 3                                                              0% 
           3 or more                                                              100%

Notwithstanding anything herein to the contrary, an Employee's pre-acquisition years of service with each Employer shall be counted for purposes of vesting.

		
	C.
	Reemployment.  If an Employee who was vested at his termination of employment returns to employment following a Break‐in‐Service, his Years of Service before such return shall be counted, in addition to his Years of Service following such return, in determining his vesting percentage in his Account subsequent to his return.  Prior distributions shall be considered in determining the vested percentage in his Account.  If an Employee terminates employment and is not vested, and later is rehired, his Years of Service earned prior to his reemployment shall be reinstated if he is reemployed within six (6) years of his termination of employment.

		
	D.
	Forfeitures.  The non-vested portion of a Participant's Account shall be forfeited upon the Participant's termination of employment.  The forfeitures shall be used to reduce the Company contribution to the Plan.

34

SECTION 6
RETIREMENT, DEATH AND
TERMINATION OF EMPLOYMENT BENEFITS

		
	A.
	Normal Retirement Date

		
	1.
	An Employee’s Normal Retirement Date shall be the first day of the month coinciding with or next following the date he attains age sixty‐five.

A Participant may, however, remain in employment beyond age 65. Where the Participant works beyond age 65, contributions will continue and all benefits and distributions shall be deferred and held for his benefit until the date of his actual Retirement, except as otherwise provided herein.  Such deferred retirement date will be the first day of the month which is at least 15 days following the Employee's deferred retirement election. The late retirement benefit shall be the value of the Participant's Account as of the Valuation Date immediately following the date of his Retirement.

The total amounts allocated to the Participant's Account as of the Valuation Date immediately following the Participant's retirement date shall be distributed to such Participant within the 60 day period following the Valuation Date.

		
	2.
	Notwithstanding anything herein to the contrary, distribution of benefits shall begin no later than the April 1st of the calendar year following the later of the calendar year in which the Participant (a) attains age 70-1/2, or (b) terminates employment.  Provided, however, if the Participant is a 5% owner (as defined in Code Section 416(i)), distribution of benefits shall begin no later than April 1st of the calendar year following the calendar year in which the Participant attains age 70-1/2.  On or before December 31, of each subsequent year, the Participant will receive a 

distribution equal to the amount required under Code Section 401(a)(9), which is incorporated herein by reference.  Notwithstanding any provision of the Plan to the contrary, the Plan applies the minimum distribution requirements of Code section 401(a)(9) in accordance with the regulations that were issued on April 17, 2002.  For this purpose, beneficiary shall mean Beneficiary at the applicable time.  For purposes of determining minimum distributions, the Single Life Table, Uniform Lifetime Table, and Joint and Last Survivor Table in Treasury Regulation Section 1.401(a)(9)-9 are incorporated herein by reference.  In addition, Q&A 4 of Treasury Regulation Section 1.401(a)(9)-9 is herein incorporated by reference.

		
	3.
	Form of Benefit.  A Participant shall receive the value of his Account as of the Valuation Date immediately following his retirement date in one lump sum. The Participant may elect to receive his Account in monthly, quarterly or annual installments over any period not exceeding ten (10) years.

		
	4.
	Notification of Eligibility to Receive and Consent to Vested Benefits.  In the event that the amount distributed to a Participant pursuant to this Section exceeds $1,000, such Participant shall receive from the Trustee within the 60 day period preceding the distribution a written notification of:

		
	(a)
	the value of his Account under the Plan; and

		
	(b)
	his right to defer receipt of his Account.

The Participant’s consent to the distribution of his Account must be:

		
	(a)
	in writing or evidenced by other documentation;

		
	(b)
	made after the Participant receives the written notice described in the preceding sentence; and

		
	(c)
	made within 90 days before the Valuation Date as of which 

35

distribution to the Participant is to be made.

		
	B.
	Disability.  If, prior to death, Retirement or termination of employment, a Participant shall incur a Disability, the Participant shall be entitled to commence receipt of benefits in accordance with the provisions of Section 6A.

		
	C.
	Death Benefit.

		
	1.
	In the event the Participant dies prior to the receipt of the entire value of his Participant Account, his Beneficiary shall be entitled to receive as a death benefit, the value of his Participant Account, as of the first Valuation Date following the later of the Beneficiary's election to commence benefits or the Participant's date of death.

		
	2.
	Form of Death Benefit Payments.  Payment of benefits under Section 6C hereof shall be paid as elected by the Beneficiary in a single lump sum distribution or in monthly, quarterly or annual installments over any period not exceeding five (5) years beyond the Participant's date of death.  If the Participant had previously received a lump sum, then no death benefit shall be payable hereunder.

		
	3.
	Designation of Death Benefit Beneficiary.  Each Participant may, from time to time, designate pursuant to Section 1B any person as his Beneficiary to whom his Plan benefits shall be paid if he dies prior to receipt of all such benefits.

		
	D.
	Termination of Employment.  Upon termination of a Participant's employment for any reason other than death, Disability, Retirement or plan termination, the Participant shall receive in a lump sum, the sum of the Participant's Salary Deferral Account, vested Company Match Account, vested Fixed Account, Prior Account and Rollover Account, as determined under Section 5 as of the first Valuation Date following the Participant's termination of employment.  His Account shall be distributed as soon as possible after the next succeeding Valuation Date.  

36

He may elect to defer receipt of the Salary Deferral Account, vested Company Match Account, vested Fixed Account, Prior Account and Rollover Account, except as provided in Section 13C, but such date shall be no later than specified in Section 6A2.

Termination of employment of an individual means the individual ceases to be an Employee of the Company and all Controlled Group members.  Cessation of Controlled Group status constitutes a termination of employment of each Employee of such Controlled Group member.  An individual on a leave of absence granted by the Employer or other Controlled Group member in accordance with a uniform and nondiscriminatory leave of absence policy shall be treated as an Employee for this purpose.  An Employee who ceases to be an Eligible Employee due to transfer of employment from an Employer to another Controlled Group member or transfer to an ineligible class of Employee shall not constitute a termination of employment.

		
	E.
	Distributions to Minors.  In the event a minor is entitled to receive a distribution of benefits, the Retirement Savings Committee may, in its discretion, pay said amount to the minor, his legal guardian or to the local probate court on behalf of the minor.

		
	F.
	Direct Rollovers.  Notwithstanding any provision of the Plan to the contrary that would otherwise limit a distributee's election under this Plan, a distributee may elect, at the time and in the manner prescribed by the Retirement Savings Committee, to have any portion of an Eligible Rollover Distribution paid directly to an Eligible Retirement Plan specified by the distributee in a direct rollover.

		
	1.
	Eligible Rollover Distribution:  An Eligible Rollover Distribution is any distribution of all or any portion of the balance to the credit of the distributee, except that an Eligible Rollover Distribution does not include any distribution that is one of a series of substantially equal periodic payments (not less frequently than annually) made for the life (or life expectancy) of the distributee or the joint lives (or joint life expectancies) of 

37

the distributee and the distributee’s designated beneficiary, or for a specified period of ten years or more; any distribution to the extent such distribution is required under Section 401(a)(9) of the Code; or any amount that is distributed on account of hardship.

The portion of a distribution that consists of after-tax employee contributions which are not includible in gross income may be transferred only to an individual retirement account or annuity described in Section 408(a) or (b) of the Internal Revenue Code or to a qualified defined contribution plan described in Section 401(a) or 403(a) of the Internal Revenue Code that agrees to separately account for amounts so transferred, including separately accounting for the portion of such distribution which is includible in gross income and the portion of such distribution which is not so includible.  

		
	2.
	Eligible Retirement Plan:  An Eligible Retirement Plan is an individual retirement account described in Section 408(a) of the Code, an individual retirement annuity described in Section 408(b) of the Code, an annuity plan described in Section 403(b) of the Code, a qualified trust described in Section 401(a) of the Code that accepts the distributee's eligible rollover distribution, an annuity contract described in Section 403(b) of the Internal Revenue Code and an eligible plan under Section 457(b) of the Internal Revenue Code which is maintained by a state, political subdivision of a state, or any agency or instrumentality of a state or political subdivision of a state and which agrees to separately account for amounts transferred into such plan from this Plan,

		
	3.
	Distributee:  A distributee includes an Employee or former Employee.  In addition, the Employee's or former Employee's surviving spouse and the Employee's or former Employee's spouse or former spouse who is the alternate payee under a qualified domestic relations order, as defined in  Section 414(p) of the Code, are distributees with regard to the interest of the spouse or former spouse. 

38

		
	4.
	Direct rollover:  A direct rollover is a payment by the Plan to the eligible retirement plan specified by the distributee.

    
		
	G.
	Lost Participants and Beneficiaries.  In the event a distribution cannot be made because the Participant or Beneficiary entitled to such distribution cannot be located and the distribution remains unclaimed for two (2) years after the distribution date established by the Committee, then such amount shall be treated as a forfeiture in accordance with Section 5.D.  In the event such Participant or Beneficiary is subsequently located, the amount forfeited (without adjustment for any subsequent gains or losses) shall be restored to the Participant’s or Beneficiary’s Account.  Such restoration shall first be made by reducing any forfeitures available pursuant to Section 5.D for the current Plan Year and, to the extent necessary, the Employer shall make a contribution to the Plan to complete such restoration.

39

SECTION 7
WITHDRAWALS AND LOANS

		
	A.
	Withdrawals From Rollover Account and Salary Deferral Account.  An Active Participant may, in accordance with rules adopted by the Retirement Savings Committee, withdraw in a lump sum all or any part of the amount of Salary Deferral Account (not including any investment earnings thereon), or the Rollover Account only upon establishment of financial hardship.  The Participant must present satisfactory proof of an immediate and heavy financial need and that the amount of the withdrawal is necessary to satisfy such financial need.

The amount of the withdrawal shall be deemed to be made on account of an immediate and heavy financial need if the withdrawal is on account of:

		
	1.
	expenses for medical care described in Code Section 213(d) previously incurred by the Participant, the Participant's spouse or any dependent of the Participant (as defined in Code Section 152) or necessary for these persons to obtain medical care described in Code Section 213(d);

		
	2
	costs directly related to the purchase (excluding mortgage payments) of a principal residence of the Participant;

		
	3.
	payment of tuition and related educational fees for the next twelve (12) months of post‐secondary education for the Participant, his or her spouse, children or dependents (as defined in Code Section 152); 

		
	4.
	payments necessary to prevent the eviction of the Participant from his or her principal residence or foreclosure on the mortgage of the Participant's principal residence;

		
	5.
	payments for burial or funeral expenses for the Participant’s deceased parent, spouse, children or dependents (as defined in Section 152 of the 

40

Code without regard to the requirement that gross income be less than the exemption amount); or

		
	6.
	expenses for the repair of damage to the Participant’s principal residence that would qualify for the casualty deduction under Section 165 of the Code (without regard to whether the loss exceeds 10% of adjusted gross income).

Such expenses may include amounts necessary to pay reasonably anticipated federal, state and local income taxes including the 10% additional income tax on early distributions.

The Participant must certify on forms supplied by the Plan Administrator that the distribution is necessary to satisfy the immediate and heavy financial need that cannot be relieved through the following:

		
	1.
	through reimbursement or compensation by insurance or otherwise;

		
	2.
	by reasonable liquidation of the Participant's assets to the extent such liquidation would not itself cause an immediate and heavy financial need;

		
	3.
	by cessation of elective contributions under the Plan;

		
	4.
	by any other distributions or non‐taxable loans from this or any other qualified retirement plan or by borrowing from commercial sources on reasonable commercial terms; or

		
	5.
	that all available distributions from the Aldrich Account have been made.

Any Participant who receives a distribution under this Section shall be suspended from participation with respect to Salary Deferral Contributions and shall not be eligible to re‐enroll for Salary Deferral Contributions for at least six months after the date of distribution.

41

Withdrawals shall be first made from the Rollover Account until it is exhausted and then from the Salary Deferral Account.

A Participant must obtain all other distributions (including any dividends currently available under Section 404(k) of the Code from an employee stock ownership plan) and loans currently available under all plans maintained by the Sponsor and all Controlled Group members before applying for a withdrawal due to financial hardship.

Unless the Participant directs otherwise in accordance with the Plan, amounts shall be withdrawn from the respective funds in which the Participant’s Account is invested in proportion to the balance then credited to each such fund.

No distribution shall be made without the approval of the Retirement Savings Committee, whose action thereon shall be final.  The Retirement Savings Committee may establish additional rules governing the granting of withdrawals on account of financial hardship ; provided that such rules are consistent with the provisions of this Section and Treas. Reg. §1.401(k)-1(d)(3).

		
	B.
	Withdrawals From Company Match Account and Fixed  Account.  No withdrawals shall be allowed from the Company Match Account or Fixed Account at any time before the Retirement, termination, Disability or death of the Participant.

		
	C.
	Withdrawal From Prior Account.  A former Participant in the Aldrich Supplemental Retirement Plan shall be permitted to make withdrawals while an active Participant in this Plan and shall be limited to the amount in his Prior Account as of December 31, 1992.  Such withdrawal may be 25%, 50% or 75% of the frozen Account.  No other withdrawals shall be allowed from the Prior Account, except as provided in an attached Appendix.

		
	D.
	Loans From Salary Deferral Accounts.

42

		
	1.
	Conditions.  An Employee may request a loan to be drawn from his Account in any amount provided, however, that the amount of any such loan may not be less than $500 and may not exceed the least of:

		
	(a)
	$50,000 (reduced by any loan balance in the previous 12 month period), or

		
	(b)
	one half the value of the Employee's Account as of the Valuation Date coincident with or next preceding the date as of which the loan is determined, or

		
	(c)
	the sum of the Employee's Salary Deferral Account, Rollover Account and Prior Account.

No more than one such loan may be outstanding at any time.

		
	2.
	Loan Stipulations.  Loans shall be made for a period not to exceed five years except for those allowed for the purchase of a primary residence which shall not exceed ten years, with repayments made through payroll deduction for an Employee.  Prepayments of any loan may only be in amounts necessary to totally pay off the full amount of the loan.

The loan amount shall be set up in a separate subaccount for the Employee and shall be treated as a self‐directed investment of the Employee.  Loan repayments will be invested according to the current 
investment election filed by the Employee.  Loan amounts shall be first withdrawn from the Prior Account until it is exhausted, then from the Rollover Account until it is exhausted and then from the Salary Deferral Account. A reasonable rate of interest as periodically established by the Retirement Savings Committee shall be charged to the Employee on the outstanding loan balance.  Any principal and interest not paid when due during the period of the loan shall be recovered from the Employee’s Account upon the earlier of the default or the Employee’s termination of 

43

employment from an Employer participating in the Plan.

The Employee shall be required to furnish written consent to any future set‐off of a defaulted loan balance hereunder against his loan subaccount.

		
	3.
	Notwithstanding the provisions of Section 6, an Employee's Account will not be paid to an Employee until the outstanding balance of the loan, including interest has been paid out of the funds otherwise distributable.

		
	E.
	Age 59-1/2 In-Service Withdrawals from Former CSL, Inc. 401(k) Plan Account.

A Participant, while still employed by an Employer, may elect to withdraw all or any portion of his Account designated as a Former CSL, Inc. 401(k) Plan Account, if any, provided that (i) the Participant is at least age 59-1/2 as of the date of withdrawal and (ii) such account is fully vested.  Such an election must be in a form acceptable to the Retirement Savings Committee and received prior to the date of withdrawal.  The amount withdrawn shall be distributed as soon as practical after the withdrawal election is received.

		
	F.
	Age 59-1/2 In-Service Withdrawals from All Accounts.

Effective January 1, 2007, a Participant, while still employed by an Employer, may elect to withdraw all or any portion of his Account, provided that (i) the Participant is at least age 59-1/2 as of the date of withdrawal and (ii) such account is fully vested.  Such an election must be in a form acceptable to the Retirement Savings Committee and received prior to the date of withdrawal.  The amount withdrawn shall be distributed as soon as practical after the withdrawal election is received.

44

SECTION 8
TRANSFERS

		
	A.
	Transfers.  Transfers within the Company or between the Company and/or any other member of the Controlled Group shall not be considered as termination of employment under the Plan. Termination of employment under the Plan shall occur when an employee is no longer employed by the Company or another member of the Controlled Group.

		
	B.
	Termination By Employer.  Any Employer, with the consent of the Company, may terminate its participation in the Plan by giving the Retirement Savings Committee prior written notice specifying a termination date which shall be the last day of the month at least 60 days subsequent to the date such notice is received by the Retirement Savings Committee. The Company may terminate any Employer's participation in the Plan, as of any termination date specified by the Company, for the failure of the Employer to make proper contributions or comply with any other provision of the Plan and shall terminate the Employer's participation upon complete and final discontinuance of the contributions.  In the event of any such termination, the Retirement Savings Committee shall promptly notify the IRS and request such determination as counsel to the Plan may recommend and as the Retirement Savings Committee may deem desirable.

Upon termination of the Plan as to any Employer, such Employer shall not make any further contributions under the Plan and no amount shall thereafter be payable under the Plan to or in respect of any Participants then employed by such Employer. To the maximum extent permitted by the Act, any rights of Participants no longer employed by such Employer and their Beneficiaries under the Plan shall be unaffected by such termination and any transfers, distributions or other dispositions of the assets of the Plan shall constitute a complete discharge of all liabilities under the Plan with respect to such Employer's participation in the Plan and any Participant then employed by such.

45

The interest of each such Participant in service with such Employer as of the  termination date is the amount, if any, credited to his Account after payment of or provision for expenses and charges and appropriate adjustment of the Accounts of all such Participants, shall be nonforfeitable as of the termination date, and upon receipt of IRS approval of such termination, the full current value of such amount shall be paid from the Trust Fund or transferred to a successor employee benefit plan which is qualified under Section 401(a) of the Code.  No advances against such payments shall be made.

All determinations, approvals and notifications referred to above shall be in form and substance and from a source satisfactory to counsel for the Plan. To the maximum extent permitted by the Act, the termination of the Plan as to any Employer, shall not in any way affect any other Employer's participation in the Plan.

		
	C.
	Transfer of Assets.  No transfer of the Plan's assets and liabilities to a successor employee benefit plan (whether by merger or consolidation with such successor plan or otherwise) shall be made unless each Participant would, if either the Plan or such successor plan then terminated, receive a benefit immediately after such transfer which (after taking account of any distribution or payments to them as part of the same transaction) is equal to or greater than the benefit he would have been entitled to receive immediately before such transfer if the Plan had then been terminated.  The Committee may also request appropriate indemnification from the employer or employers maintaining such successor plan before making such a transfer.

		
	D.
	Disposition of B-Line Operations.  As a result of the transaction consummated pursuant to the Sale and Purchase Agreement By and Among Sigma-Aldrich Corporation and Cooper Industries, Inc., CBL Acquisition Corp. and Cooper Technologies Company (the “Agreement”), the following guidelines shall apply under this Plan, effective as of the date of closing of said transaction (the “B-Line Effective Date”):

46

		
	1.
	B-Line Systems, Inc., B-Line Systems Manufacturing, Inc. and all subsidiaries of either entity (“B-Line”) shall no longer be an Employer for purposes of the Plan.

		
	2.
	The Company Match Account and Fixed Account of a Participant who was employed by B-Line as of the B-Line Effective Date or whose employment was transferred or deemed to be transferred on such date to Cooper Industries, Inc., CBL Acquisition Corp., Cooper Technologies Company or a subsidiary thereof (“Cooper”) pursuant to the Agreement, shall be 100% vested, to the extent they were not already fully vested.  

		
	3.
	The last sentence of the first paragraph of Section 7D2 shall not apply with respect to an Employee (i) whose employment was terminated or deemed to be terminated pursuant to the Agreement and (ii) who effectuates a rollover of his or her Account to a qualified plan maintained by Cooper Industries, Inc., CBL Acquisition Corp., Cooper Technologies Company, B-Line Systems, Inc. or B-Line Systems Manufacturing, Inc.  

		
	4.
	A Participant (i) who was employed by B-Line or  (ii) whose employment was transferred or deemed to be transferred on such date to Cooper pursuant to the Agreement shall be entitled (to the extent not otherwise entitled) to a distribution of his or her accounts in accordance with Section 6.D as of such date. 

		
	E.
	Notwithstanding the foregoing, the Company Match Account and Fixed Account of a Participant participating in the Plan as of May 1, 2002, who was an Employee of an Employer, including by way of example and not by way of limitation, Sigma-Diagnostics, Inc. and whose employment with any said Employer was terminated between May 1, 2002 and December 31, 2002, as a result of the closing and consummation of the sale by Sigma-Diagnostics, Inc. of substantially all of its assets, shall be 100% vested, to the extent not already vested.  For the purposes of the foregoing provision, the Company shall, in its sole discretion, determine whether a Participant’s employment with an Employer was terminated as a result 

47

of said sale transaction.

48

SECTION 9
FUNDING

		
	A.
	Trustee.  The Retirement Savings Committee will select a Trustee or Trustees and/or insurance company or companies to administer the funds.

		
	B.
	Trust Fund.  All contributions made by the Employer shall be paid into the Trust Fund and all benefits payable under the Plan shall be paid from the Trust Fund.  The Trust Fund will be used and applied to the payment of benefits to such persons as are entitled to them in accordance with the Plan. No part of the corpus or income of the Trust Fund will be used for, or diverted to, purposes other than for the exclusive benefit of the Participants or Beneficiaries, except that if the expenses of administering the Trust Fund are not paid by the Trust Fund they shall be paid from the Employer.

		
	C.
	Return of Employer Contributions.  All Employer contributions are made conditioned on their deductibility for federal income tax purposes under Section 404 of the Code. Amounts contributed by an Employer shall be returned to the Employer under the following conditions:

		
	1.
	If a contribution was made by an Employer by mistake of fact, the excess of the amount of such contribution over the amount which would have been contributed had there been no mistake of fact shall be returned to the Employer within one year after the payment of the contribution; and

		
	2.
	The Employer makes a contribution which is not deductible by the Company or a member of the Controlled Group under Section 404 of the Code, such contribution (but only to the extent disallowed) shall be returned to the Employer within one year after the disallowance of the deduction.

Earnings attributable to the contributions shall not be returned to the 

49

Employer, but losses attributable to such contributions shall reduce the amount to be returned.

50

SECTION 10
AMENDMENT OR TERMINATION OF PLAN

The Company reserves the right at any time and from time to time through action of its Board of Directors, to amend, in whole or in part, any and all of the provisions of the Plan and to terminate the Plan.  An officer of the Company shall have the right to amend the Plan at any time in order to protect the tax qualified status of the Plan.  These rights are subject to the condition that no part of the assets of the Plan shall, by reason of any amendment or termination, be used for or diverted for purposes other than for the exclusive benefit of the Participants and Beneficiaries under the Plan.  Upon termination of the Plan, the Participant’s Accounts will be distributed in the form of a lump sum.  In the event the Retirement Savings Committee, upon termination of the Plan, is unable to locate one or more Participants or Beneficiaries for purposes of distribution to any such Participant or Beneficiary of his or her Accounts, the Retirement Savings Committee will use any reasonable means to locate such Participant or Beneficiary, including contacting appropriate governmental agencies.  If the Participant or Beneficiary cannot be located after such search, the Participant’s or Beneficiary’s Accounts will be forfeited.  If such Accounts are forfeited and the Participant or Beneficiary is subsequently located, the Company shall pay such Participant or Beneficiary the amount in the Accounts at the time of such forfeiture out of the Company’s assets.

51

SECTION 11
RETIREMENT SAVINGS COMMITTEE
AND ADMINISTRATION OF THE PLAN

		
	A.
	Organization of Retirement Savings Committee.  An officer of the Company shall appoint a Retirement Savings Committee of three or more members, as the delegate of the Plan Administrator, to assist the Plan Administrator in carrying out its duties.  Members of the Retirement Savings Committee shall consist of officers, directors or other Employees.  Members shall signify acceptance of this responsibility in writing.  Any member may resign by delivering the written resignation to the Company and to the Retirement Savings Committee.  Vacancies in the Retirement Savings Committee arising by resignation, death, removal or otherwise, shall be filled by an officer of the Company.

The members of the Retirement Savings Committee shall select a Chairman and a Secretary. The latter may be, but need not be, a member of the Retirement Savings Committee. All acts and determinations of the Retirement Savings Committee shall be recorded by the Secretary or under his supervision, and all such records together with such other documents as may be necessary for the administration of the Plan, shall be preserved in the custody of the Secretary.

The Retirement Savings Committee shall act by a majority of its members at the time in office, but such action may be taken by a vote at a meeting or in writing without a meeting. A member shall not vote on any question hereunder relating specifically to himself.  Notwithstanding the foregoing, the Retirement Savings Committee may designate one or more members of the Retirement Savings Committee to act on its behalf.  Any action taken pursuant to such designation shall be deemed to be an act of the Retirement Savings Committee.

		
	B.
	Powers and Responsibilities of the Retirement Savings Committee.  The Retirement Savings Committee shall be responsible for administering the Plan for the exclusive benefit of Participants and their Beneficiaries subject to the specific 

52

terms of the Plan.  It shall have authority to make such rules and regulations and take such actions as may be necessary to carry out the provisions of the Plan and to decide any questions arising in the administration, interpretation and application of the Plan.

The Retirement Savings Committee, as named Fiduciary, may allocate fiduciary responsibilities to named persons or parties, provided such allocation is evidenced by written document, to be retained with other Plan documents.  It may appoint or employ such agents, attorneys, accountants and clerical or other assistants, and may incur such expenses, as it deems necessary for the administration of the Plan.  It shall appoint the Trustee under the Trust Agreement and may appoint one or more investment advisers empowered to direct the Trustee to carry out the funding policy of the Plan with respect to all or any portion of the Trust Fund; and the Retirement Savings Committee shall monitor the performance of the Trustee and of any investment advisers.

The Retirement Savings Committee shall maintain all records necessary for the administration of the Plan.  It shall prepare annually for submission to the Company a brief account of the operation of the Plan for the past year and any further information which may be required.

The Retirement Savings Committee shall have the power and the discretion to construe and interpret the provisions of the Plan and all parts thereof and to administer the Plan for the best interest of Participants and their Beneficiaries.  It may construe any ambiguity, or supply any omission or reconcile any inconsistencies in such manner and to such extent as it deems proper. The Retirement Savings Committee shall have further authority and discretion to determine all questions with respect to the individual rights of Employees under the Plan, including, but not by way of limitation, all issues with respect to eligibility and benefits.

The Retirement Savings Committee shall advise the Trustee of such facts as may be pertinent to the Trustee's duties under the Plan, and it shall direct the Trustee 

53

concerning the allocation, payment and distribution of the Trust Fund. 

The Retirement Savings Committee or its delegate shall advise, counsel and assist any Participant regarding any rights, benefits or elections available under the Plan. It shall furnish each Participant or Beneficiary entitled to Plan benefits such information and reports as may be required by law, regulation or by this Plan.  It shall make copies of the Plan description and the latest annual report, Trust Agreement, contract or other instrument under which the Plan was established or is operated available for examination by any Participant or Beneficiary entitled to Plan benefits.

The Retirement Savings Committee shall be responsible for preparing and filing such annual disclosure reports and tax forms as may be required from time to time by the Secretary of Labor or the Secretary of Treasury.

Whenever it is determined by the Retirement Savings Committee to be in the best interest of the Plan and its Participants or Beneficiaries, the Retirement Savings Committee may request such variances, deferrals, extensions or exemptions or make such elections for the Plan as may be available under the law.

The Retirement Savings Committee shall be responsible for procuring bonding for any persons dealing with the Plan or its assets as may be required by law and shall be subject to all the terms and restrictions on fiduciaries as determined by law.

The interpretation or construction placed upon any term or provision of the Plan by the Retirement Savings Committee, and any action by the Retirement Savings Committee or the Trustee taken pursuant thereto in good faith, shall be final and conclusive upon all parties hereto, the Company, the Trustee, the Participants and all other persons concerned provided that any discretionary acts to be taken under the terms and provisions of the Plan by the Company, the Board or the Retirement Savings Committee shall be uniform in nature and applicable to all persons similarly situated and shall not discriminate in favor of Highly 

54

Compensated Employees.

		
	C.
	Changes in Authority of Retirement Savings Committee.  If a new Retirement  Savings Committee is appointed in accordance with Section 11A, neither the Trustee nor any other party which has previously had dealings with the Retirement Savings Committee shall be chargeable with knowledge of such appointment or such change until furnished with notice thereof.  Until such notice, either the Trustee or any other such party shall be fully protected in relying on any action taken or signature presented which would have been proper in accordance with that information previously received.

		
	D.
	Selection of Retirement Savings Committee by an Officer.  Subject to the provisions of Section 11A, an officer shall select and appoint members who will act prudently in their capacity as members of the Retirement Savings Committee and will discharge their duties with respect to the Plan in a careful, skillful and diligent fashion at all times.

		
	E.
	Responsibility of the Company.  The Company shall furnish the Retirement Savings Committee with such clerical and other assistance as is necessary in the performance of its duties.  It shall supply full and timely information to the Retirement Savings Committee on all matters relating to the compensation of all participants, their employment, their retirement, death or termination of employment and such other pertinent facts. The Retirement Savings Committee is entitled to rely on such information as is supplied by the Company and shall have no duty or responsibility to verify such information except in accordance with its duties and responsibilities as set forth in Section 11B.

		
	F.
	Trustee Responsibility.  The Trustee shall hold and administer the Trust Fund, established for the purpose of funding Plan benefits, in accordance with the provision of the Trust Agreement.

The Trustee shall be delegated the responsibility of receiving all instructions  as appropriate, from the Retirement Savings Committee and shall maintain records 

55

of all deposits made by the Company and of all income to and disbursements from the Trust Fund.  The Trustee shall have the right to question the validity of any such instruction that may be inconsistent with the Trustee records and may refuse to process any request for retirement benefits unless and until all required information is submitted by the Retirement Savings Committee.

56

SECTION 12
CLAIMS PROCEDURE

		
	A.
	Claim.  A Participant or Beneficiary or other person who believes that he is being denied a benefit to which he is entitled (hereinafter referred to as "Claimant") may file a written request for such benefit with the Retirement Savings Committee setting forth his claim.

		
	B.
	Claim Decision.  Upon receipt of a claim, the Retirement Savings Committee shall advise the Claimant that a reply will be forthcoming within ninety days and shall, in fact, deliver such reply within such period.  However, the Retirement Savings Committee may extend the reply period for an additional ninety (90) days for reasonable cause.  If the claim is denied in whole or in part, the Retirement Savings Committee will adopt a written opinion using language calculated to be understood by the Claimant setting forth:

		
	1.
	the specific reason or reasons for denial;

		
	2.
	the specific references to pertinent Plan provisions on which the denial is based;

		
	3.
	a description of any additional material or information necessary for the Claimant to perfect the claim and an explanation why such material or such information is necessary;

		
	4.
	appropriate information as to the steps to be taken if the Claimant wishes to submit the claim for review; and

		
	5.
	the time limits for requesting a review under Section 12C and for review under Section 12D.

		
	C.
	Request for Review.  Within sixty days after the receipt by the Claimant of the 

57

written opinion described above, the Claimant may request in writing that the Retirement Savings Committee review the determination. The Claimant or his duly authorized representative may, but need not, review the pertinent documents and submit issues and comments in writing for consideration by the Retirement Savings Committee.  If the Claimant does not request a review of the determination by the Retirement Savings Committee within such sixty‐day period, he shall be barred and estopped from challenging the determination.

		
	D.
	Review of Decision.  Within sixty days after the Retirement Savings Committee's receipt of a request for review, it will review the determination. After considering all materials presented by the Claimant, the Retirement Savings Committee will render a written opinion, written in a manner calculated to be understood by the Claimant, setting forth the specific reasons for the decision and containing specific references to the pertinent Plan provisions on which decision is based.  If special circumstances require that the sixty‐day time period be extended, the Retirement Savings Committee will so notify the Claimant and will render the decision as soon as possible but not later than 120 days after receipt of the request for review.

58

SECTION 13
MISCELLANEOUS

		
	A.
	Spendthrift.  Except as provided in Section 13H, no benefit or beneficial interest provided under the Plan shall be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance or charge, either voluntary or involuntary, and any attempt to so alienate, anticipate, sell, transfer, assign, pledge, encumber or charge the same shall be null and void.  No such benefit or beneficial interest shall be liable for or subject to the debts, contracts, liabilities, engagements or torts of any person to whom such benefits or funds are or may be payable.  Notwithstanding anything in the Plan to the contrary, effective August 5, 1997, the Plan may offset any amount that a Participant or Beneficiary is ordered or required to pay to the Plan provided (i) the order or requirement to pay arises (I) under a judgment of conviction for a crime involving the Plan, (II) under a civil judgment (including consent, order or decree) entered by a court in an action brought in connection with a violation (or alleged violation) of part 4 of subtitle B of title I of ERISA, or (III) pursuant to a settlement agreement between the Secretary of Labor and the Participant or Beneficiary, or a settlement agreement between the PBGC and the Participant or Beneficiary, in connection with a violation (or alleged violation) of part 4 of subtitle B of title I of ERISA by a fiduciary or any other person and (ii) the judgment, order, decree, or settlement agreement expressly provides for the offset of all or part of the amount ordered or required to be paid to the Plan against the Participant’s or Beneficiary’s benefits provided under the Plan. 

		
	B.
	Incapacity.  If, in the opinion of the Employer, a person to whom a benefit is payable is unable to care for his affairs because of illness, accident or any other reason, any payment due the person, unless prior claim therefor shall have been made by a duly qualified guardian or other duly appointed and qualified representative of such person, may be paid to some member of the person's family, or to some party who, in the opinion of the Employer, has incurred expense for such person.  Any such payment shall be a payment for the account of such 

59

person and shall be a complete discharge of any liability.

		
	C.
	Small Benefit.  If a Participant’s employment with the Employer is terminated and the value of the Participant’s Account is $1,000 or less, such Account shall be distributed to the Participant in a lump sum as soon as possible after the Participant’s termination of employment.  To the extent a Participant is not vested in any portion of his Account, such Participant will be deemed to have received a $0 cashout of his benefit upon his termination of employment.  The Participant’s Rollover Account will be taken into account in determining eligibility for distribution under this Section 13C.

		
	D.
	Employee Rights.  The Employer, in adopting this Plan, shall not be held to create or vest in any Employee or any other person any interest, pension or benefits other than the benefits specifically provided herein, or to confer, upon any Employee the right to remain in the service of the Employer.

		
	E.
	Merger.  In the event of any merger or consolidation with, or transfer of assets or liabilities to any other plan, each Participant shall (as if the Plan had then terminated) receive a benefit immediately after the merger, consolidation or transfer which is equal to or greater than the benefit he would have been entitled to receive immediately before the merger, consolidation, or transfer if the Plan had then terminated.

		
	F.
	Commencement of Benefits.  Notwithstanding any other Section of the Plan, the payment of benefits under the Plan to the Participant will begin not later than the sixtieth day after the close of the Plan Year in which the last of the following occurs:

		
	(a)
	the day on which the Participant attained age sixty‐five;

		
	(b)
	the tenth anniversary of the date on which the Participant commenced participation in the Plan; or

60

		
	(c)
	the Participant's termination of service.

Notwithstanding the preceding paragraph or any other provision of the Plan, if the amount of payment cannot be ascertained, or if it is not possible to make payment because the Plan Administrator has been unable to locate the Participant after making reasonable effort to do so, a retroactive payment may be made not later than sixty days after the earliest date on which the amount of such payment can be ascertained under the Plan or the date on which the Participant is located, whichever is applicable.

		
	G.
	Trust Sole Source of Benefits.  The assets of the Trust shall be the sole source of benefits under the Plan and neither the Company nor any member of the Controlled Group assumes any liability or responsibilities for such benefits.  Each Participant, surviving spouse, Beneficiary or other person who shall claim the right to any payment under the Plan shall be entitled to look only to the Trust for such payment and shall not have any right, claim or demand therefor against the Company, a member of the Controlled Group, the Trustee or any employee of any of them.

		
	H.
	Qualified Domestic Relations Order.  Notwithstanding anything in the Plan to the contrary, benefits may be distributed in accordance with the terms of a Qualified Domestics Relations Order ("QDRO").  For this purpose, QDRO is any Domestic Relations Order determined by the Employer to be a Qualified Domestic Relations Order within the meaning of Section 414(p) of the Code pursuant to this Section.

		
	(a)
	A "Domestic Relations Order" means a judgment, decree or order (including the approval of a property settlement agreement) which

		
	1.
	relates to the provision of child support, alimony payments or marital property rights to a spouse, former spouse, child or other dependent of a Participant,

		
	2.
	is made pursuant to a state domestic relations law, and

61

		
	3.
	creates or recognizes the existence of an Alternate Payee's right, or assigns to the Alternate Payee the right, to receive all or a portion of the benefits of the Participant under the Plan.

An "Alternate Payee" includes any spouse, former spouse, child or other dependent of a Participant who is designated by the Domestic Relations Order as having a right to receive all or a portion of the benefits payable under the Plan with respect to the concerned Participant.

		
	(b)
	To be a QDRO, the Domestic Relations Order must meet the specifications set forth in Section 414(p) of the Code and must clearly specify the following:

		
	1.
	Name and last known mailing address of the Participant.

		
	2.
	Name and last known mailing address of each Alternate Payee covered by the Domestic Relations Order.

		
	3.
	The amount or the percentage of the Participant's benefit to be paid to each Alternate Payee, or the manner in which such amount or percentage is to be determined.

		
	4.
	The number of payments or period to which the Domestic Relations Order applies.

		
	5.
	Each Plan to which the Domestic Relations Order applies.

		
	(c)
	The status of any Domestic Relations Order as a QDRO shall be determined under the following procedures:

		
	1.
	Promptly upon receiving a Domestic Relations Order, the Employer will:

62

		
	A.
	refer the Domestic Relations Order to legal counsel for the Plan to render any opinion within 90 days (or such earlier period as shall be provided by applicable law) whether the Domestic Relations Order is a QDRO, and

		
	B.
	notify the affected Participant and any Alternate Payee of the receipt by the Plan of the Domestic Relations Order and of this procedure.

		
	2.
	Promptly upon receiving the determination made by the Plan's legal counsel of the status of the Domestic Relations Order, the affected Participant and each Alternate Payee (or any representative designated by an Alternate Payee by written notice to the Employer) shall be furnished a copy of such determination. The notice of determination shall state:

		
	A.
	whether the Plan’s legal counsel has determined that the Domestic Relations Order is a QDRO, and

		
	B.
	once such legal counsel determines whether the Domestic Relations Order constitutes a QDRO, that the Employer will commence any payments currently due under the Plan to the person or persons entitled thereto after the expiration of a period of 60 days commencing on the date of the mailing of the notice unless prior thereto the Employer receives notice of the institution of legal proceedings disputing the determination.  The Employer shall, as soon as practical after such 60 day period, ascertain the dollar amount currently payable to each payee pursuant to the Plan and the QDRO, and any such amounts shall be disbursed by the Plan.

63

		
	3.
	If there is a dispute on the status of a Domestic Relations Order as a QDRO, there shall be a delay in making payments.  The Employer shall direct that the amounts otherwise payable be held in a separate account within the Plan.   If within 18 months thereafter, the Domestic Relations Order is determined not to be a valid QDRO, or the status of the Domestic Relations Order has not been finally determined, the segregated or escrow amounts (including interest thereon) shall be paid to the person or persons who would have been entitled to such amounts if there had been no Domestic Relations Order.  Any Determination thereafter that the Domestic Relations Order is a QDRO shall be applied prospectively only.

		
	(d)
	An alternate payee shall be treated as a Participant who has terminated employment.

		
	I.
	Leased Employees.  Any person who is a Leased Employee of any member of the Controlled Group shall be treated for all purposes of the Plan as if he were employed by a member of the Controlled Group which has not adopted the Plan.  

		
	J.
	Uniform Services Employment and Re‐employment Rights Act.‐  Notwithstanding any provision of this Plan to the contrary, effective December 12, 1994, contributions, benefits and service credit with respect to qualified military service will be provided in accordance with Section 414(u) of the Code and Appendix I.

64

SECTION 14
TOP‐HEAVY DEFINITIONS

		
	A.
	"Accrued Benefits" and “Accounts” are defined under regulations issued under Section 416 of the Code.  The Accrued Benefit of any Employee (other than a Key Employee) shall be determined under the method which is used for accrual purposes for all plans of the Employer or if no such method exists, as if such benefit accrued not more rapidly than the slowest accrual rate permitted under Code Section 411(b).  For purposes of determining the present values of Accrued Benefits and the amounts of Accounts of Employees as of the Determination Date, the following rules shall apply, effective for Plan Years commencing after December 31, 2001:

		
	1.
	The present values of Accrued Benefits and the amounts of Accounts of an Employee as of the Determination Date shall be increased by the distributions made with respect to the Employee under the Plan and any Plan aggregated with the Plan under Section 416(g)(2) of the Code during the one year period ending on the Determination Date.  The preceding sentence shall also apply to distributions under a terminated plan which, had it not been terminated, would have been aggregated with the Plan under Section 416(g)(2)(A)(i) of the Code.  In the case of a distribution made for a reason other than separation from service, death or Disability, this provision shall be applied by substituting “five year period” for “one year period”.

		
	2.
	The Accrued Benefits and Accounts of any individual who has not performed services for an Employer during the one year period ending on the Determination Date shall not be taken into account.

		
	B.
	"Beneficiaries" means the person or persons to whom the share of a deceased Participant's account is payable.

		
	C.
	"Determination Date" means for a Plan Year the last day of the preceding Plan Year.

		
	D.
	“Key Employee” means 

		
	1.
	For Plan Years beginning prior to January 1, 2002, any person presently or formerly employed by the Controlled Group (and the Beneficiaries of such person), in accordance with Section 416(i) of the Code, who, at any time during the Plan Year or any of the four (4) preceding Plan Years, is:

		
	i.
	an officer of an Employer whose annual compensation, at the time the Top Heavy determination is being made, exceeds fifty percent (50%) of the amount then in effect under Section 415(b)(1)(A) of the Code; or

ii.    a five percent (5%) owner of an Employer; or

		
	iii.
	a one percent (1%) owner of an Employer having annual Compensation from the Company of more than $150,000.

provided, however, that for Plan Years commencing after December 31, 1984, a person who has not performed any services for the Controlled Group at any time during the five year period ending on the Determination Date (and the Beneficiaries of such persons) shall not be consider a Key Employee.

		
	2.
	For Plan Years beginning after December 31, 2001, any Employee or former Employee (including any deceased employee) who at any time during the Plan Year that includes the Determination Date was:

		
	i.
	an officer of an Employer having annual compensation greater than $130,000 (as adjusted under Section 416(i) (1) of the Code for Plan Years beginning after December 31, 2002); or

65

		
	ii.
	a five percent (5%) owner of an Employer; or

		
	iii.
	a one percent (1%) owner of an Employer having annual compensation of more than $150,000.

For this purpose, annual compensation means compensation within the meaning of Section 415(c)(3) of the Code.  The determination of who is a Key Employee will be made in accordance with Section 416(i)(1) of the Code and the applicable regulations and other guidance of general applicability issued thereunder.

		
	E.
	"Non‐Key Employee" means any person presently or formerly employed by the Controlled Group (and the Beneficiaries of such person) who is not a Key Employee; provided, however, that for Plan Years commencing after December 31, 1984, a person who has not performed any services for the Controlled Group at any time during the five year period ending on the Determination Date (and the Beneficiaries of such persons) shall not be considered a Non‐Key Employee.

		
	F.
	"Permissive Aggregation Group" means each Qualified Plan of the Controlled Group in the Required Aggregation Group plus each other Qualified Plan which is not part of the Required Aggregation Group but which satisfies the requirements of Sections 401(a)(4) and 410 of the Code when considered together with the Required Aggregation Group.

		
	G.
	"Required Aggregation Group" means each Qualified Plan (including any terminated Qualified Plan) of the Controlled Group in which a Key Employee participates, and each other Qualified Plan (including any terminated Qualified Plan) of the Controlled Group which enables any Qualified Plan (including any terminated Qualified Plan) in which a Key Employee participates to meet the requirements of Section 401(a)(4) or 410 of the Code.

		
	H.
	"Super Top‐Heavy Group" means, for a Plan Year, the Required Aggregation Group if, and only if, the sum of the Accrued Benefits/Accounts (valued as of the Determination Date for such Plan Year) under all Qualified Plans in the Required 

66

Aggregation Group for Key Employees exceeds ninety percent (90%) of the sum of the Accrued Benefits/Accounts (valued as of such Determination Date) under all Qualified Plans in the Required Aggregation Group for all Key Employees and Non‐Key Employees; provided, however, that the Required Aggregation Group will not be a Super Top‐Heavy Group for a Plan Year the Required Aggregation Group if the sum of the Accrued Benefits/Accounts (valued as of the Determination Date for such Plan Year) under all Qualified Plans in the Required Aggregation Group for Key Employees does not exceed 90% of the sum of the Accrued Benefits/Accounts (valued as of such Determination Date) under all Qualified Plans in the Permissive Aggregation Group for all Key Employees and Non‐Key Employees.  If the Qualified Plans in the Required or Permissive Aggregation Group have different Determination Dates, the Accrued Benefits/ Accounts under each such Plan shall be calculated separately, and the Accrued Benefits/Accounts as of Determination Dates for such Plans that fall within the same calendar year shall be aggregated.

		
	I.
	"Top‐Heavy Group" means, for a Plan Year, the Required Aggregation Group if, and only if, the sum of the Accrued Benefits/Accounts (valued as of the Determination Date for such Plan Year) under all Qualified Plans in the Required Aggregation Group for Key Employees exceeds sixty percent (60%) of the sum of the Accrued Benefits/Accounts (valued as of such Determination Date) under all Qualified Plans in the Required Aggregation Group for all Key Employees and Non‐Key Employees; provided, however, that the Required Aggregation Group will not be a Top‐Heavy Group or a Super Top‐Heavy Group for a Plan Year if the sum of the Accrued Benefits/Accounts (valued as of the Determination Date for such Plan Year) under all Qualified Plans in the Required Aggregation Group for Key Employees does not exceed 60% of the sum of the Accrued Benefits/ Accounts (valued as of such Determination Date) under all Qualified Plans in the Permissive Aggregation Group for all Key Employees and Non‐Key Employees.  If the Qualified Plans in the Required or Permissive Aggregation Group have different Determination Dates, the Accrued Benefits under each such Plan shall be calculated separately, and Accrued Benefits as of Determination Dates for such Plans that fall within the same calendar year shall be aggregated.

67

SECTION 15
TOP-HEAVY RULES

		
	A.
	Special Top‐Heavy Rules.  If for any Plan Year the Plan is part of a Top-Heavy Group:

		
	1.
	Effective as of the first day of such Plan Year, any Non-Key Employee who accrues an Hour of Service on or after the first day of such Plan Year shall have Employer contributions (other than Salary Deferral contributions) allocated to his Account equal to at least three percent (3%) of such Non-Key Employee's Compensation.  However, should the sum of the Employer's contributions (including Salary Deferral Contributions) allocated to the Participant's Account of each Key Employee for such Top-Heavy Plan Year be less than three percent (3%) of each Key Employee's Compensation, the sum of the Employer's contributions allocated to the Participant's Accounts of each Non-Key Employee shall be equal to the largest percentage allocated to the Participant's Accounts of any Key Employee. Effective for Plan Years beginning after December 31, 2001, Matching Employer Contributions shall be taken into account for purposes of satisfying the minimum contribution requirements of Section 416(c)(2) of the Code and the Plan.  Matching Employer Contributions that are used to satisfy the minimum contribution requirements shall be treated as matching contributions for purposes of the Actual Contribution Percentage Test and other requirements of Section 401(m) of the Code.

		
	2.
	Notwithstanding the provisions of Section 5B, a Participant's vested percentage shall not be less than the percentage set forth below for the Plan Year in which the Plan becomes Top-Heavy and for all future Top-Heavy Plan Years:   

68

Full Years of Service                            Vesting Percentage

Less than 2                                                   0% 
2                                                      20 
3                                                      40 
4                                                      60 
5                                                      80 
6 or more                                       100

If any amendment to the Plan in any way directly or indirectly affects the computation of vesting percentage, each Participant with at least three (3) years of service with the Company may elect to have his vesting percentage computed under this Plan without regard to such amendment. The period during which election may be made shall commence with the date the amendment is adopted and shall end on the later of:

		
	(i)
	60 days after the amendment is adopted;

		
	(ii)
	60 days after the amendment becomes effective; or

		
	(iii)
	60 days after the Participant is issued written notice of the amendment.

IN WITNESS WHEREOF, the Company has caused the amended and restated Plan to be executed this 21st day of January, 2008.

SIGMA-ALDRICH CORPORATION

By:  /s/ Douglas W. Rau    

69

APPENDIX I

UNIFORMED SERVICES EMPLOYMENT AND REEMPLOYMENT RIGHTS ACT

		
	1.
	Application.  The provisions of this Appendix apply to any Participant whose return to the employment of his Employer following Qualified Uniformed Service is initiated on or after December 12, 1994.  "Qualified Uniformed Service" means military or other service satisfying the requirements described below.

		
	2.
	Conditions for Qualified Uniformed Service Credit.  For a Participant to receive Service or Credited Service, or both, as described below, for "Qualified Uniformed Service" under this Appendix, the following conditions must be satisfied:

		
	(a)
	The Participant must have been engaged in "service in the uniformed services."  For this purpose,

		
	(i)
	"service" means the performance of duty on a voluntary or involuntary basis under competent authority and includes active duty, active duty for training, inactive duty training, full-time National Guard Duty, and a period for which an individual is absent from employment for the purpose of an examination to determine the fitness of the individual to perform any such duty, and

		
	(ii)
	"uniformed services" means the Armed Forces of the United States, the Army National Guard and the Air National Guard for an individual engaged in active duty for training or inactive duty training or full-time National Guard duty, the commissioned corps of the Public Health Service, and any other category of persons designated by the President of the United States in time of war or emergency.

		
	(b)
	The Participant must not have been terminated from service in the uniformed services by reason of a dishonorable or bad conduct discharge or under any other of the circumstances described in section 4304 of title 38, United States 

70

Code, or its successor.

		
	(c)
	The Participant must have satisfied the advance notice, cumulative length of absence, reporting and all other requirements necessary in order for the Participant to have been entitled to reemployment rights with his Employer and to pension plan rights pursuant to chapter 43 of title 38, United States Code, or its successor.

3.    Service and Credited Service.  A period of Qualified Uniformed Service shall be
taken into account in computing a Participant's Years of Service under the Plan, by crediting him with his years and fractions thereof of Qualified Uniformed Service, offset by any Years of Service to which the Participant otherwise is entitled for such period.  No credit shall be provided for any period or portion of a period of Qualified Uniformed Service, however, to the extent the Participant would not have received credit for the period or portion of such period, had he continued to be employed by his Employer in the position he left to enter Qualified Uniformed Service.

		
	4.
	Five Year Limitation.  A Participant's periods of Qualified Uniformed Service, when aggregated (and regardless of when served) shall not result in credit for more than five (5) Years of Service or such other number of years or partial years required by law.  Additional periods, although not credited, shall not give rise to a Break-in-Service, provided that such periods continue to entitle the Participant to reemployment rights pursuant to chapter 43 of title 38, United States Code, or its successor.

		
	5.
	Compensation.  If, based on the foregoing, a Participant is entitled to Years of Service for a period of Qualified Uniformed Service, the following additional rules apply.  For purposes of determining the Participant's Compensation,  the Participant shall be deemed to be in receipt of Compensation during such period of Qualified Uniformed Service at the rate Compensation would have been received but for the Qualified Uniformed Service.  If such rate is not reasonably certain, the Participant shall be deemed to be in receipt of Compensation during such period of Qualified Uniformed Service at his average rate of Compensation during the twelve (12) month period immediately preceding the period of Qualified Uniformed Service (or, if shorter, the 

71

period of employment as a Participant immediately preceding the period of Qualified Uniformed Service).

72

APPENDIX II

TRANSFERRED ACCOUNTS

Accounts transferred from the CSL, Inc. 401(k) Plan

Accounts transferred from the Aldrich Supplemental Retirement Plan 

Accounts transferred from the Sigma-Aldrich Supplemental Retirement Plan

Accounts transferred from the RBI, Inc. Plan

73

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