Document:

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                                                                    Exhibit 10.4

                                  ACKEEOX CORP.

                                ESCROW AGREEMENT

ESCROW AGREEMENT made this ______ day of June, 2001 by and between FLAGLER
BANK, a Florida banking corporation (the "Escrow Agent"), and ACKEEOX CORP., a
Florida corporation (the "Company").

                                    RECITALS:

A.       The Company proposes to offer and sell to the public up to 1,000,000
         units (the "Units"), each Unit consisting of a share of its common
         stock ("Common Stock") and a warrant ("Warrant") to purchase an
         additional share of Common Stock at the price of $5.00, at an initial
         offering price of $5.00 per Unit (the "Offering").

B.       A registration statement on Form SB-2 with respect to the
         Units has been filed by the Company with the Securities and Exchange
         Commission (the "Commission") under the Securities Act of 1933, as
         amended (the "Securities Act").  Amendments to such registration
         statement have been and more may be filed, and a final form of
         prospectus will be filed with the Commission upon the effectiveness of
         such registration statement.  (Such registration statement (including
         all exhibits thereto), as amended at the time it becomes effective and
         at the time each post-effective amendment thereto becomes effective,
         and the final prospectus filed upon the effectiveness of such
         registration statement or post-effective amendment (including any
         supplements to such final prospectus filed following such
         effectiveness) are referred to herein, respectively, as the
         "Registration Statement" and the "Prospectus").

C.       The Registration Statement and the Prospectus provide that amounts
         tendered by investors in payment of the subscription price for Units,
         including checks, cash and cash equivalents (the "Subscription
         Proceeds"), shall be deposited and held in escrow in a segregated
         account until such Subscription Proceeds are disbursed by the Escrow
         Agent pursuant to this Agreement.

D.       Unless subscriptions for not less than 200,000 Units are accepted by
         the Company and fully paid for on or before the Termination Date, the
         Offering will terminate, and no Units will be sold. "Termination Date"
         means September 30, 2001, unless extended by the Company in its
         discretion for an additional 90 days.

NOW, THEREFORE, in consideration of the mutual covenants set

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forth herein and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as
follows:

1. ESCROW. From the date hereof through and including (a) the date of the final
disbursement of funds pursuant to this Agreement or (b) termination of the
Offering by the Company, whichever occurs later, the Escrow Agent shall act as
escrow agent and shall receive and disburse all Subscription Proceeds and
earnings, if any, thereon in accordance with the terms of this Agreement. The
Escrow Agent hereby represents to the Company that it is a "bank" as such term
is defined by Section 3(a)(6) of the Securities Exchange Act of 1934, as amended
(the "Exchange Act").

2. DEPOSIT PROCEDURE.

    (a) The Escrow Agent shall establish an appropriate segregated account (the
"Escrow Account") designated as the "Ackeeox Corp. Escrow Account," or with such
other appropriate designation as shall be assigned by the Escrow Agent and
communicated to the Company. The Escrow Agent shall cause all Subscription
Proceeds transmitted to it by the Company to be held in the Escrow Ac count. All
checks received by the Escrow Agent are to be held uncashed until required to be
submitted for collection pursuant to paragraph 2(b) of this Agreement.

    (b) All Subscription Proceeds received by the Company shall be promptly
delivered to the Escrow Agent at 1801 Forest Hill Boulevard, West Palm Beach,
Florida 33406 together with a schedule of such payments and the subscriptions
represented thereby. Provided that the Escrow Agent shall have received with
respect to each subscription for Units (i) Facsimile Notice (as defined herein)
from the Company that a subscription has been received by the Company and (ii)
Subscription Proceeds in the amount required to pay in full for such
subscription, the Escrow Agent shall immediately commence the collection process
(as applicable) with respect to such Subscription Proceeds. Any payment item
which is returned to the Escrow Agent on its initial presentation for payment
need not again be presented for collection. The Facsimile Notice provided for
in this paragraph shall be given by the Company not more than five days
following receipt by the Escrow Agent of such Subscription Proceeds and not less
than two business days prior to any disbursement of Subscription Proceeds by
the Escrow Agent pursuant hereto.

    (c) If a subscription is not accepted by the Company, the Company shall,
within five days following its receipt, provide the Escrow Agent with Facsimile
Notice (as defined herein) of the name of the rejected subscriber, the address
of the rejected subscriber, and the amount of Subscription Proceeds received
from such rejected subscriber and delivered to the Escrow Agent by the Company.

                                       -2-

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    (d) If the Escrow Agent is holding collected funds with respect to a
rejected subscription, the Escrow Agent shall promptly remit the full amount of
Subscription Proceeds received by the Company and delivered to the Escrow Agent,
without inter est thereon or deduction therefrom, to the rejected subscriber at
the address provided by the Company. If the Escrow Agent has presented the
Subscription Proceeds of a rejected subscriber for collection but has not yet
collected funds, the Escrow Agent shall, promptly upon collection of such funds,
remit the full amount of Subscription Proceeds received by the Company and
delivered to the Escrow Agent, without interest thereon or deduction therefrom,
to the rejected subscriber at the address provided by the Company. If the
Escrow Agent has not yet presented the Subscription Proceeds of a rejected
subscriber for collection, the Escrow Agent shall promptly return in full the
Subscription Proceeds delivered to the Escrow Agent in the form so received and
delivered, without interest thereon or deduction therefrom, to the rejected
subscriber at the address provided by the Company.

3. INVESTMENT OF ESCROW FUNDS. The Escrow Agent shall invest all funds held in
the Escrow Account (including earnings, if any, thereon) in United States
government securities or securities guaranteed by the United States,
certificates of deposit of banks located in the United States or any other
investment, provided, in each case, that such investment is permitted by Rule
15c2-4, promulgated by the Commission under the Exchange Act ("Rule 15c2-4").
Such investments shall be made in a manner consistent with the requirement that
the Subscription Proceeds be available for delivery by the Escrow Agent at the
times described herein. The parties hereto recognize that there may be a
forfeiture of interest in the event of early withdrawal from an interest-bearing
account.

4. INITIAL CLOSING.

    (a) If the Escrow Agent shall (i) be holding in escrow collected funds
representing Subscription Proceeds in an amount equal to the full purchase price
of 200,000 Units and (ii) have received from the Company on or before the
Termination Date and the Initial Closing Date, respectively, the Facsimile
Notice (as defined herein) and related Confirmation (as defined herein)
described in paragraph 4(b) hereof, then the Escrow Agent shall disburse the
collected funds then held in the Escrow Account (less fees of the Escrow Agent
as provided herein) to the Company, as provided herein and subject to the
provisions hereof, at the Initial Closing. As used in this Agreement, the terms
"Initial Closing" and "Initial Closing Date" shall mean,

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respectively, the first disbursement of Subscription Proceeds by the Escrow
Agent pursuant to this Agreement and the date upon which such disbursement
occurs; the Initial Closing shall be scheduled as determined by the parties
hereto.

    (b) On or before the Termination Date, the Escrow Agent shall have received
Facsimile Notice (as defined herein) from the Company that all conditions
precedent to the disbursement of Subscription Proceeds on the Initial Closing
Date have been fully satisfied as required under the Registration Statement and
Prospectus, specifically certifying that subscriptions for not less than
200,000 Units have been received and accepted by the Company on or before the
Termination Date; Confirmation (as defined herein) of such Facsimile Notice
shall be delivered to the Escrow Agent on or before the Initial Closing Date,
dated as of the Initial Closing Date.

    (c) Provided that the Escrow Agent shall have (i) received and be holding in
escrow collected Subscription Proceeds as required under paragraph 4(a) hereof,
(ii) received the Facsimile Notice (as defined herein) required under paragraph
4(b) hereof on or before the Termination Date and (iii) received Confirmation
(as defined herein) of the Facsimile Notice required under para graph 4(b)
hereof on or before the Initial Closing Date, the Escrow Agent shall, on the
Initial Closing Date, disburse the collected funds then held in the Escrow
Account as follows: First, to the Escrow Agent in the amount of any fees then
due and payable to the Escrow Agent (which shall not exceed on the Initial
Closing Date the aggregate earnings, if any, on funds held in the Escrow
Account, determined as of the business day immediately preceding such Closing
Date); and second, to the Company in the amount of any balance then remaining in
the Escrow Account.

    (d) If any of the conditions described in paragraphs 4(a) and 4(b) hereof
shall not have been fully satisfied at the close of business on the date (the
Termination Date or Initial Closing Date) specified herein for such compliance,
the Escrow Agent shall promptly return all Subscription Proceeds directly to
subscribers, without interest thereon or deduction therefrom, and the escrow
provided for herein shall thereupon terminate.

5. ADDITIONAL CLOSINGS.

(a) Subsequent to the Initial Closing Date, the collected funds then held in the
Escrow Account shall be disbursed by the Escrow Agent from time to time at one
or more Additional Closings. As used herein, the terms "Additional Closing" and
"Additional Closing Date" shall mean, respectively, any such further closing
and the date upon which such closing occurs; Additional Closings shall be
scheduled as determined by the parties to this Agreement.

                                       -4-

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    (b)  Prior to the disbursement of collected funds held in the Escrow Account
at any Additional Closing, the Escrow Agent shall have received Facsimile Notice
(as defined herein) from the Company that all conditions precedent to such
disbursement by the Escrow Agent have been fully satisfied as required under the
Registration Statement and Prospectus. The Facsimile Notice from the Company
provided for in this paragraph 5(b) must be received by the Escrow Agent not
less than two business days prior to such Additional Closing Date; Confirmation
(as defined herein) of such Facsimile Notice shall be delivered to the Escrow
Agent by the Company on or before such Additional Closing Date, dated as of such
Additional Closing Date.

    (c) Provided that the Facsimile Notice (as defined herein) required under
paragraph 5(b) hereof shall have been received by Escrow Agent not less than two
business days prior to, and confirmed in writing on or before, each Additional
Closing Date, the Escrow Agent shall, on such Additional Closing Date, disburse
the collected funds then held in the Escrow Account as follows: First, to the
Escrow Agent in the amount of any fees then due and payable to such Agent (which
shall not exceed on any Additional Closing Date the aggregate earnings, if any,
on funds held in the Escrow Account, determined as of the business day
immediately preceding such Closing Date); and second, to the Company in the
amount of any balance then remaining in the Escrow Account.

6. BOOKS AND RECORDS. The Escrow Agent shall maintain accurate records of all
transactions hereunder. Promptly upon the termination of escrow, or as may
reasonably be requested by the Company prior thereto, the Escrow Agent shall
provide the Company with a complete copy of such records, certified by the
Escrow Agent to be a complete and accurate account of all such transactions.
The authorized representatives of the Company shall also have access to such
books and records at all reasonable times during normal business hours upon
reasonable notice to the Escrow Agent.

7. ESCROW AGENT FEES. As compensation for services performed by it pursuant to
this Agreement, the Escrow Agent shall be entitled to receive from the Company
the fees set forth on SCHEDULE "A" hereto; such fees shall be deducted from
Escrow Income (as defined in such SCHEDULE "A"), and the Company shall pay to
the Escrow Agent on demand any portion of such fees which remains unpaid
following the final Closing, in any event no later than the Termination Date.

8. TERMINATION. This Agreement shall terminate on the final disposition of the
moneys and property held in escrow under and pursuant to the terms hereof,
provided that the rights of the
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Escrow Agent and the obligations of the Company under paragraphs 7 and 9 shall
survive the termination hereof.

9. GENERAL PROVISIONS.

    (a) This Agreement expressly sets forth all the duties of the Escrow Agent
with respect to any and all matters pertinent hereto.

    (b) The Escrow Agent shall not be liable, except for its own negligence or
willful misconduct and, except with respect to claims based upon such negligence
or willful misconduct that are successfully asserted against the Escrow Agent.
The Company shall indemnify and hold harmless the Escrow Agent (and any
successor Escrow Agent) from and against any and all losses, liabilities,
claims, actions, damages and expenses, including reason able attorneys' fees and
disbursements, arising out of and in connection with this Agreement.

    (c) The Escrow Agent shall be entitled to rely upon any order, judgment,
certification, demand, notice, instrument or other writing delivered to it
hereunder without being required to determine the authenticity or the
correctness of any fact stated therein or the propriety or validity of the
service thereof. The Escrow Agent may act in reliance upon any instrument or
signature believed by it to be genuine and may assume that any person purporting
to give notice or advice, or to accept and acknowledge receipt, or to make any
statement or execute any documents in connection with the provisions of this
Agreement has been duly authorized to do so.

    (d) In the event that the Escrow Agent (i) shall be uncertain as to its
duties arising under this Agreement or (ii) shall receive instructions from the
Company as to the funds held in the Escrow Account which, in its opinion, are
inconsistent with each other or are in any conflict with any of the provisions
of this Agreement, the Escrow Agent shall be authorized to hold any and all
Subscription Proceeds received by it, together with any other amounts which
shall accrue to or be deposited in the Escrow Account, pending the settlement of
any such controversy by final adjudication of a court of competent jurisdiction,
or the Escrow Agent may, at its option, deposit such funds with the clerk of a
court of competent jurisdiction, in an appropriate proceeding to which all
parties in interest are duly joined.

    (e) The Escrow Agent (and any successor escrow agent) may at any time resign
as such by delivering all amounts held in the Escrow Account to any successor
escrow agent designated by the Company in writing, or to any court of competent
jurisdiction,

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whereupon the Escrow Agent shall be discharged of and from any and all further
obligations arising in connection with this Agreement. The resignation of the
Escrow Agent will take effect (i) upon the appointment of a successor (including
a court of competent jurisdiction) or (ii) thirty (30) days after the date of
delivery of its written notice of resignation to the Company, whichever first
occurs. If at such time the Escrow Agent has not received a written designation
of a successor escrow agent, the Escrow Agent's sole responsibility thereafter
shall be to safekeep the funds held in the Escrow Account until receipt by the
Escrow Agent of a written designation by the Company of a successor escrow agent
or a final order of a court of competent jurisdiction.

    (f) The parties hereto hereby irrevocably submit to the jurisdiction of the
Florida state courts in and for Palm Beach County or the U.S. federal court in
West Palm Beach, Florida in any action or proceeding arising out of or relating
to this Agreement, and the parties hereby irrevocably agree that all claims in
respect of such action or proceeding shall be heard and determined in such state
or federal court. The parties to this Agreement hereby consent to and grant to
any such court jurisdiction over the persons of such parties and over the
subject matter of any such dispute.

    (g) This Agreement shall be binding upon and inure solely to the benefit of
the parties hereto and their respective successors and assigns, and shall not be
enforceable by or inure to the benefit of any third party. Except as provided
herein with respect to a resignation by the Escrow Agent, no party hereto may
assign any of its rights or obligations under this Agreement without the prior
written consent of the other parties hereto.

    (h) This Agreement may only be modified by a written instrument signed by
the parties hereto, and no waiver hereunder shall be effective unless in writing
signed by the party to be charged.

    (i) The Escrow Agent makes no representation as to the validity, value,
genuineness or the collectibility of any security or other document or
instrument held by or delivered to such Escrow Agent pursuant to the terms of
this Agreement.

    (j) For purposes hereof, "Facsimile Notice" shall mean the delivery by
telephone facsimile of a notice, request, demand or other communication provided
for herein, and "Confirmation" shall mean the delivery by hand (via commercial
courier service or otherwise) or by first class mail, if and to the extent
required hereunder, of a manually-signed (if applicable) counterpart of any such
notice, demand or other communication. All Facsimile Notices and Confirmations
and any other communications arising

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hereunder shall be deemed given when received and shall be telecopied or
delivered by hand to the parties at the facsimile telephone numbers and
addresses listed below, or to such other persons or facsimile telephone
numbers/addresses as the relevant party shall designate from time to time in
writing delivered by hand as aforesaid:

        If to the Company:                          Ackeeox Corp.
        Attention:                                  Jerold H. Kritchman
        Facsimile Number:                           561-776-0775
        Telephone Number:                           561-776-0776
        Confirmation Address:                       2835 N. Military Trail
                                                    West Palm Beach, FL 33409

        If to the Escrow Agent:                     Flagler Bank
        Attention:                                  James A. Semrad
        Facsimile Number:                           561-432-2123
        Telephone Number:                           561-432-2122
        Confirmation Address:                       1801 Forest Hill Boulevard
                                                    West Palm Beach, FL 33406

    (k) This Agreement shall be construed in accordance with and governed by the
internal law of the State of Florida.

    (l) This Agreement may be executed in counterparts, both of which shall be
deemed an original, and both of which together shall constitute one and the same
instrument.

IN WITNESS WHEREOF, the parties hereto have executed this Escrow Agreement as of
the day and year first above written.

                                          ACKEEOX CORP.

                                          By:/s/Jerold H. Kritchman
                                             --------------------------------
                                             Jerold H. Kritchman, President

                                          FLAGLER BANK

                                          By: /s/James A. Senrad
                                             --------------------------------
                                             Name: James A. Senrad
                                                  ---------------------------
                                             Title: President
                                                   --------------------------

                                       -8-

<PAGE>   9

                                ESCROW AGREEMENT

                                   SCHEDULE A

This SCHEDULE "A" to the Escrow Agreement dated as of June 4, 2001 by and
between Flagler Bank (the "Escrow Agent") and Ackeeox Corp. (the "Company") sets
forth the compensation arrangements referred to in paragraph 7 of such
Agreement, as follows:

For services performed by it pursuant to the Escrow Agreement, the Escrow Agent
shall be entitled to receive from the Company fees in the amounts of $2000
payable upon the execution hereof plus $250 per Closing; provided, however, that
the Escrow Agent shall receive, in the aggregate, not less than $2500 in
consideration of its services rendered pursuant to the terms of the Escrow
Agreement. Except for the initial payment due upon the execution of this
Agreement, such fees shall be (a) due and payable on the Initial Closing Date
and each Additional Closing Date until paid in full and (b) payable, through the
final Closing, only from and to the extent of available Escrow Income; provided
that, if payments made from available Escrow Income, made at the Initial Closing
and one or more Additional Closings are not, in the aggregate, sufficient to pay
such fees in full, the Company shall pay on demand any such fees which remain
unpaid following the final Closing.

"Escrow Income" is the amount of interest and/or dividends, if any, which shall
have been (x) paid on or in respect of the Escrow Account (representing earnings
on funds held therein) and (y) deposited in such Account as collected funds on
or prior to the business day immediately preceding such Initial Closing Date or
Additional Closing Date, as the case may be. If and to the extent that Escrow
Income exceeds the aggregate fees payable to the Escrow Agent hereunder, such
excess shall be paid to the Company at the Initial Closing or Additional
Closing(s), as the case may be. Notwithstanding the foregoing, if the Offering
is terminated prior to the Initial Closing, the Escrow Agent shall be entitled
to receive fees in the aggregate amount of $2500, and no more, payable by the
Company on demand. All terms used herein shall have the same meanings ascribed
to them in the Escrow Agreement of which this Schedule is a part.

                                       -9-<PAGE>   1
                                                                     EXHIBIT 4.1

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

TRANSFERS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFER IN WHOLE, BUT NOT IN
PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR'S NOMINEE
AND TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE
INDENTURE REFERRED TO ON THE REVERSE HEREOF.

<PAGE>   2

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE "SECURITIES ACT"). THE HOLDER HEREOF, BY PURCHASING THIS SECURITY,
AGREES FOR THE BENEFIT OF THE COMPANY THAT THIS SECURITY MAY NOT BE RESOLD,
PLEDGED OR OTHERWISE TRANSFERRED (X) PRIOR TO THE EXPIRATION OF THE HOLDING
PERIOD UNDER RULE 144(k) (OR ANY SUCCESSOR THERETO) UNDER THE SECURITIES ACT
WHICH IS APPLICABLE TO THIS SECURITY OR (Y) BY ANY HOLDER THAT WAS AN
"AFFILIATE" (WITHIN THE MEANING OF RULE 144 UNDER THE SECURITIES ACT) OF THE
COMPANY AT ANY TIME DURING THE THREE MONTHS PRECEDING THE DATE OF SUCH TRANSFER,
IN EITHER CASE, OTHER THAN (1) TO THE COMPANY, (2) SO LONG AS THIS SECURITY IS
ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT ("RULE
144A"), TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A QUALIFIED
INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A, PURCHASING FOR ITS OWN
ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS
GIVEN THAT THE RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON
RULE 144A, (3) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES
ACT PROVIDED BY RULE 144 (IF APPLICABLE) UNDER THE SECURITIES ACT OR (4)
PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, IN
EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE
UNITED STATES. THE HOLDER HEREOF, BY PURCHASING THIS SECURITY, REPRESENTS AND
AGREES FOR THE BENEFIT OF THE COMPANY THAT IT IS A QUALIFIED INSTITUTIONAL BUYER
WITHIN THE MEANING OF RULE 144A. IN ANY CASE THE HOLDER HEREOF WILL NOT,
DIRECTLY OR INDIRECTLY, ENGAGE IN ANY HEDGING TRANSACTION WITH REGARD TO THIS
SECURITY OR ANY COMMON STOCK ISSUABLE UPON CONVERSION OF THIS SECURITY EXCEPT AS
PERMITTED BY THE SECURITIES ACT.

<PAGE>   3

                             WASTE CONNECTIONS, INC.

                                                           ISIN No. US941053AA82
Number 1                                                     CUSIP No. 941053AA8

                  5 1/2% Convertible Subordinated Note Due 2006

        Waste Connections, Inc., a Delaware corporation (the "Company"),
promises to pay to Cede & Co. or registered assigns, the principal sum of One
Hundred and Fifteen Million Dollars ($115,000,000) on April 15, 2006 and to pay
interest on the principal amount of this Note beginning the most recent date to
which interest has been paid or, if no interest has been paid, beginning April
4, 2001 at the rate of 5 1/2% per annum.

Interest Payment Dates:      April 15 and October 15
Record Dates:                April 1 and October 1

        This Note is convertible at such times and as specified on the other
side of this Note. Additional provisions of this Note are set forth on the other
side of this Note.

        IN WITNESS WHEREOF, the Company has caused this 5 1/2% Convertible
Subordinated Note due 2006 to be signed by its duly authorized officers.

Dated:  April 4, 2001          WASTE CONNECTIONS, INC.

                               By: _____________________________________________
                                   Name: Ron J. Mittelstaedt
                                   Title: President and Chief Executive Officer

                               By: _____________________________________________
                                   Name: Steven Bouck
                                   Title: Chief Financial Officer

Trustee's Certificate of
Authentication:

Dated:  April 4, 2001

This is one of the Securities referred
to in the within mentioned Indenture.

State Street Bank and
Trust Company of California, N.A.,
  as Trustee

By: ____________________________________
    Authorized Signatory

<PAGE>   4

                             WASTE CONNECTIONS, INC.

                  5 1/2% Convertible Subordinated Note Due 2006

1.      Interest

        Waste Connections, Inc., a Delaware corporation (the "Company"),
promises to pay interest on the principal amount of this Note at the rate per
annum shown above. The Company shall pay interest semi-annually on April 15 and
October 15 of each year, commencing October 1, 2001. Interest on the Notes will
accrue from the most recent date to which interest has been paid or, if no
interest has been paid, from April 4, 2001. Interest will be computed on the
basis of a 360-day year of twelve 30-day months.

        The Holder of this Note is entitled to the benefits of the Registration
Rights Agreement, dated April 4, 2001, among the Company, and Merrill Lynch,
Pierce, Fenner & Smith Incorporated.

2.      Method of Payment

        The Company will pay interest on this Note (except defaulted interest)
to the person who is the registered Holder of this Note at the close of business
on the April 1 and October 1 next preceding the interest payment date. The
Holder must surrender this Note to the Paying Agent to collect payment of
principal. The Company will pay principal and interest in money of the United
States that at the time of payment is legal tender for payment of public and
private debts. The Company, however, may pay principal and interest by its check
payable in such money. It may mail an interest check to the Holder's registered
address.

3.      Paying Agent, Registrar and Conversion Agent

        Initially, State Street Bank and Trust Company of California, N.A. (the
"Trustee") will act as Paying Agent, Registrar and Conversion Agent. The Company
may change any Paying Agent, Registrar or Conversion Agent without notice to the
holder. The Company or any of its Subsidiaries may act as Paying Agent,
Registrar or Conversion Agent.

4.      Indenture; Limitations

        This Note is one of a duly authorized issue of Notes of the Company
designated as its 5 1/2% Convertible Subordinated Notes Due 2006 (the "Notes"),
issued under an Indenture dated as of April 4, 2001 (the "Indenture"), between
the Company and the Trustee. The terms of this Note include those stated in the
Indenture and those made part of the Indenture by reference to the Trust
Indenture Act of 1939 (15 U.S.C. Sections 77aaa-77bbbb), as amended by the Trust
Indenture Reform Act of 1990, as in effect on the date hereof or, from and after
the date that the Indenture shall be qualified thereunder, as in effect on such
date. This Note is subject to all such terms, and the holder of this Note is
referred to the Indenture and said Act for a statement of them.

        The Notes are subordinated unsecured obligations of the Company limited
to up to $115,000,000 aggregate principal amount plus an additional principal
amount not exceeding

                                       1
<PAGE>   5

$35,000,000 in the aggregate as may be issued upon the exercise by the Initial
Purchaser, in whole or in part, of the Purchase Option.

5.      Optional Redemption

        The Notes may be redeemed at the Company's option, in whole or in part,
at any time and from time to time on and after April 15, 2004 (an "Optional
Redemption"). The redemption price for the Notes, expressed as a percentage of
the principal amount, is as follows for the 12-month periods set forth below:

<TABLE>
<CAPTION>
Redemption Period                                                   Percentage
-----------------                                                   ----------
<S>                                                                 <C>
April 15, 2004 through April 14, 2005............................     102.2%
April 15, 2005 through April 14, 2006............................     101.1%
</TABLE>

and 100% of the principal amount on and after April 15, 2006, together in the
case of any such redemption with accrued and unpaid interest to the date of
redemption, but any interest payment that is due and payable on or prior to such
date of redemption will be payable to the Holders of such Notes, or one or more
predecessor Notes, of record at the close of business on the relevant record
dates referred to on the face hereof, all as provided in the Indenture.

6.      Notice of Redemption

        Notice of redemption will be mailed by first class mail at least 30 days
but not more than 60 days before the redemption date in the case of an Optional
Redemption, to each Holder of Notes to be redeemed at his registered address.
Notes in denominations larger than $1,000 may be redeemed in part, but only in
whole multiples of $1,000. On and after the redemption date, subject to the
deposit with the Paying Agent of funds sufficient to pay the redemption price,
interest ceases to accrue on Notes or portions of them called for redemption.

7.      Repurchase of Notes at Option of Holder upon a Change in Control

        If at any time that Notes remain outstanding there shall have occurred a
Change in Control (as defined in the Indenture), at the option of the Holder and
subject to the terms and conditions of the Indenture, the Company shall become
obligated to repurchase all or any part specified by the Holder (so long as the
principal amount of such part is $1,000 or an integral multiple thereof) of the
Notes held by such Holder on the Repurchase Date. The Holder shall have the
right to withdraw any Repurchase Notice by delivering a written notice of
withdrawal to the Paying Agent in accordance with the terms of the Indenture.
The Repurchase Price is payable in cash.

8.      Conversion

        At any time prior to the close of business on the business day
immediately preceding April 15, 2006, a Holder of a Note may convert such Note
into shares of Common Stock of the Company; provided, however, that if the Note
is called for redemption, the conversion right will terminate at the close of
business on the Business Day before the redemption date of such Note

                                       2
<PAGE>   6

(unless the Company shall default in making the redemption payment when due, in
which case the conversion right shall terminate at the close of business on the
date such default is cured and such Note is redeemed). The initial conversion
price is $38.03 per share, subject to adjustment under certain circumstances as
described in the Indenture (the "Conversion Price"). The number of shares
issuable upon conversion of a Note is determined by dividing the principal
amount converted by the Conversion Price in effect on the conversion date. Upon
conversion, no adjustment for interest or dividends will be made. No fractional
shares will be issued upon conversion; in lieu thereof, an amount will be paid
in cash based upon the current market price (as defined in the Indenture) of the
Common Stock on the last trading day prior to the date of conversion.

        To convert a Note, a Holder must (a) complete and sign the conversion
notice set forth below and deliver such notice to the Conversion Agent, (b)
surrender the Note to the Conversion Agent, (c) furnish appropriate endorsements
and transfer documents if required by the Registrar or the Conversion Agent, (d)
pay any transfer or similar tax, if required and (e) if the Note is held in
book-entry form, complete and deliver to the Depositary appropriate instructions
pursuant to the Depositary's book-entry conversion programs. If a Holder
surrenders a Note for conversion between the record date for the payment of an
installment of interest and the next interest payment date, the Note must be
accompanied by payment of an amount equal to the interest payable on such
interest payment date on the principal amount of the Note or portion thereof
then converted; provided, however, that no such payment shall be required if
such Note has been called for redemption on a redemption date within the period
between and including such record date and such interest payment date, or if
such Note is surrendered for conversion on the interest payment date. A Holder
may convert a portion of a Note equal to $1,000 or any integral multiple
thereof.

        A Note in respect of which a Holder had delivered a Repurchase Notice
exercising the option of such Holder to require the Company to repurchase such
Note may be converted only if the notice of exercise is withdrawn as provided
above and in accordance with the terms of the Indenture.

9.      Subordination

        The indebtedness evidenced by the Notes is, to the extent and in the
manner provided in the Indenture, subordinate and junior in right of payment to
the prior payment in full of all Senior Indebtedness of the Company, as defined
in the Indenture. Any Holder by accepting this Note agrees to and shall be bound
by such subordination provisions and authorizes the Trustee to give them effect.

        In addition to all other rights of Senior Indebtedness described in the
Indenture, the Senior Indebtedness shall continue to be Senior Indebtedness and
entitled to the benefits of the subordination provisions irrespective of any
amendment, modification or waiver of any terms of any instrument relating to the
Senior Indebtedness or any extension or renewal of the Senior Indebtedness.

                                       3
<PAGE>   7

10.     Denominations, Transfer, Exchange

        The Notes are in registered form without coupons in denominations of
$1,000 and integral multiples thereof. A Holder may register the transfer of or
exchange Notes in accordance with the Indenture. The Registrar may require a
Holder, among other things, to furnish appropriate endorsements and transfer
documents and to pay any taxes or other governmental charges that may be imposed
by law or permitted by the Indenture.

        The aggregate principal amount of the Note in global form represented
hereby may from time to time be reduced to reflect conversions or redemptions of
a part of this Note in global form or cancellations of a part of this Note in
global form, in each case, and in any such case, by means of notations on the
Global Note Transfer Schedule on the last page hereof. Notwithstanding any
provision of this Note to the contrary, conversions or redemptions of a part of
this Note in global form and cancellations of a part of this Note in global
form, may be effected without the surrendering of this Note in global form,
provided that appropriate notations on the Schedule of Exchanges, Conversions,
Redemptions, Cancellations and Transfers are made by the Trustee, or the
Custodian at the direction of the Trustee, to reflect the appropriate reduction
or increase, as the case may be, in the aggregate principal amount of this Note
in a global form resulting therefrom or as a consequence thereof.

11.     Persons Deemed Owners

        The registered holder of a Note may be treated as the owner of it for
all purposes.

12.     Unclaimed Money

        If money for the payment of principal, premium, if any, or interest
remains unclaimed for two years, the Trustee or Paying Agent will pay, subject
to applicable escheatment laws, the money back to the Company at its request.
After that, Holders entitled to money must look to the Company for payment
unless an abandoned property law designates another person.

13.     Amendment, Supplement, Waiver

        Subject to certain exceptions, the Indenture or the Notes may be amended
or supplemented with the consent of the Holders of a majority in aggregate
principal amount of the Notes then outstanding and any past default or
compliance with any provision may be waived in a particular instance with the
consent of the Holders of a majority in aggregate principal amount of the Notes
then outstanding. Without the consent of or notice to any Holder, the Company
and the Trustee may amend or supplement the Indenture or the Notes to, among
other things, cure any ambiguity, omission, defect or inconsistency or make any
other change that does not adversely affect the rights of any Holder.

14.     Successor Corporation

        When a successor corporation assumes all the obligations of its
predecessor under the Notes and the Indenture, the predecessor corporation will
be released from those obligations.

                                       4
<PAGE>   8

15.     Defaults and Remedies

        An Event of Default is: default for 30 days in payment of interest on
the Notes; default in payment of principal on the Notes when due; failure by the
Company for 60 days after appropriate notice to it to comply with any of its
other agreements contained in the Indenture or the Notes; default by the Company
or any Subsidiary with respect to its obligation to pay principal of or interest
on indebtedness for borrowed money aggregating more than $20.0 million or the
acceleration of such indebtedness if not withdrawn within 15 days from the date
of such acceleration; and certain events of bankruptcy, insolvency or
reorganization of the Company or any of its Significant Subsidiaries. If an
Event of Default (other than as a result of certain events of bankruptcy,
insolvency or reorganization) occurs and is continuing, the Trustee or the
Holders of at least 25% in principal amount of the Notes then outstanding may
declare all unpaid principal of and accrued interest to the date of acceleration
on the Notes then outstanding to be due and payable immediately, all as and to
the extent provided in the Indenture. If an Event of Default occurs as a result
of certain events of bankruptcy, insolvency or reorganization, all unpaid
principal of and accrued interest on the Notes then outstanding shall become due
and payable immediately without any declaration or other act on the part of the
Trustee or any Holder, all as and to the extent provided in the Indenture.
Holders may not enforce the Indenture or the Notes except as provided in the
Indenture. The Trustee may require indemnity satisfactory to it before it
enforces the Indenture or the Notes. Subject to certain limitations, Holders of
a majority in principal amount of the Notes then outstanding may direct the
Trustee in its exercise of any trust or power. The Trustee may withhold from
Holders notice of any continuing default (except a default in payment of
principal or interest) if it determines that withholding notice is in their
interests. The Company is required to file periodic reports with the Trustee as
to the absence of default.

16.     Trustee Dealings with the Company

        State Street Bank and Trust Company of California, N.A., the Trustee
under the Indenture, in its individual or any other capacity, may make loans to,
accept deposits from, and perform services for the Company or an Affiliate of
the Company, and may otherwise deal with the Company or an Affiliate of the
Company, as if it were not the Trustee.

17.     No Recourse Against Others

        A director, officer, employee or stockholder, as such, of the Company
shall not have any liability for any obligations of the Company under the Notes
or the Indenture or for any claim based on, in respect or by reason of, such
obligations or their creation. The Holder of this Note by accepting this Note
waives and releases all such liability. The waiver and release are part of the
consideration for the issue of this Note.

18.     Discharge Prior to Maturity

        If the Company deposits with the Trustee or the Paying Agent money or
U.S. Government Obligations sufficient to pay the principal of and interest on
the Notes to maturity as provided in the Indenture, the Company will be
discharged from the Indenture except for certain Sections thereof.

                                       5
<PAGE>   9

19.     Authentication

        This Note shall not be valid until the Trustee or an authenticating
agent signs the certificate of authentication on the other side of this Note.

20.     Abbreviations and Definitions

        Customary abbreviations may be used in the name of a Holder or an
assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the
entireties), JT TEN (= joint tenants with right of survivorship and not as
tenants in common), CUST (= Custodian) and U/G/M/A (= Uniform Gifts to Minors
Act).

        All capitalized terms used in this Note and not specifically defined
herein are defined in the Indenture and are used herein as so defined.

21.     Indenture to Control

        In the case of any conflict between the provisions of this Note and the
Indenture, the provisions of the Indenture shall control.

        The Company will furnish to any Holder, upon written request and without
charge, a copy of the Indenture. Requests may be made to: Waste Connections,
Inc., 620 Coolidge Drive, Suite 350, Folsom, California 95630-3155, Attention:
Chief Financial Officer.

                                       6
<PAGE>   10

                                 TRANSFER NOTICE

This Transfer Notice relates to $__________ principal amount of the 5 1/2 %
Convertible Subordinated Notes Due 2006 of Waste Connections, Inc., a Delaware
corporation, held by ______________________________ (the "Transferor").

        (I) or (we) assign and transfer this Convertible Note to

________________________________________________________________________________
              (Print or type assignee's name, address and zip code)

                                   -----------

________________________________________________________________________________
               (Insert assignee's social security or tax I.D. no.)

and irrevocably appoint _______________________________ agent to transfer this
Note on the books of the Company. The agent may substitute another to act for
him.

Your Signature: ___________________________________
  (Sign exactly as your name appears on the other side of this Convertible Note)

Date: __________________________

Signature Guarantee(1) ____________________________

In connection with any transfer of any of the Notes evidenced by this
certificate occurring prior to the date that is three years after the later of
the date of original issuance of such Notes and the last date, if any, on which
such Notes were owned by the Company or any Affiliate of the Company, the
undersigned confirms that such Notes are being transferred:

CHECK ONE BOX BELOW

        (1)    [ ]    to Waste Connections, Inc.; or

        (2)    [ ]    pursuant to and in compliance with Rule 144A under the
                      Securities Act of 1933, as amended; or

        (3)    [ ]    pursuant to another available exemption from the
                      registration requirements of the Securities Act of 1933;
                      or

        (4)    [ ]    pursuant to an effective registration statement under the
                      Securities Act of 1933.

-------------
        (1) Signature must be guaranteed by a commercial bank, trust company or
member firm of the New York Stock Exchange.

<PAGE>   11

        Unless one of the boxes is checked, the Trustee will refuse to register
        any of the Notes evidenced by this certificate in the name of any person
        other than the registered holder thereof; provided, however, that if box
        (2) or (3) is checked, the Trustee may require, prior to registering any
        such transfer of the Notes such legal opinions, certifications and other
        information as the Company has reasonably requested to confirm that such
        transfer is being made pursuant to an exemption from, or in a
        transaction not subject to, the registration requirements of the
        Securities Act of 1933, such as the exemption provided by Rule 144 under
        such Act.

        Unless the box below is checked, the undersigned confirms that such Note
        is not being transferred to an "affiliate" of the Company as defined in
        Rule 144 under the Securities Act of 1933, as amended (an "Affiliate"):

        (5)    [ ]    The transferee is an Affiliate of the Company.

                                        ________________________________________
                                        Signature

                                        ________________________________________
                                        Date

                                        ________________________________________
                                        Signature Guarantee(2)

-------------
        (2) Signature must be guaranteed by a commercial bank, trust company or
member firm of the New York Stock Exchange.

<PAGE>   12

              TO BE COMPLETED BY PURCHASER IF (2) ABOVE IS CHECKED

        The undersigned represents and warrants that it is purchasing this Note
for its own account or an account with respect to which it exercises sole
investment discretion and that it and any such account is a "qualified
institutional buyer" within the meaning of Rule 144A under the Securities Act of
1933, and is aware that the sale to it is being made in reliance on Rule 144A
and acknowledges that it has received such information regarding the Company as
the undersigned has requested pursuant to Rule 144A or has determined not to
request such information and that it is aware that the transferor is relying
upon the undersigned's foregoing representations in order to claim the exemption
from registration provided by Rule 144A.

Dated: _______________________________________
[Signature of executive officer of purchaser]

                                            Name:  _____________________________

                                            Title: _____________________________

<PAGE>   13

                                CONVERSION NOTICE

To Waste Connections, Inc.:

        The undersigned owner of this Note hereby irrevocably exercises the
option to convert this Note, or the portion below designated, into Common Stock
of Waste Connections, Inc. in accordance with the terms of the Indenture
referred to in this Note, and directs that the shares issuable and deliverable
upon conversion, together with any check in payment for fractional shares, be
issued in the name of and delivered to the undersigned, unless a different name
has been indicated in the assignment below. If shares are to be issued in the
name of a person other than the undersigned, the undersigned will pay all
transfer taxes payable with respect thereto.

        Any holder of Notes, upon exercise of its conversion rights in
accordance with the terms of the Indenture and the Security, agrees to be bound
by the terms of the Registration Rights Agreement relating to the Common Stock
issuable upon conversion of the Notes.

[ ]     Convert whole                   [ ]    Convert in part

                                               Amount of Note to be
                                               converted ($1,000 or integral
                                               multiples thereof):

                                               $____________________

                                        ________________________________________
                                        Signature (sign exactly as name appears
                                        on the other side of this Note)

                                        ________________________________________
                                        Signature Guarantee:(3)

------------------
        (3) Signature must be guaranteed by a commercial bank, trust company or
member firm of the New York Stock Exchange.

<PAGE>   14

        If you want the stock certificate made out in another person's name,
complete the following for such person:

____________________________________________________
Name

____________________________________________________
Social Security or Taxpayer Identification Number

____________________________________________________
Street Address

____________________________________________________
City, State and Zip Code

<PAGE>   15

                      OPTION OF HOLDER TO ELECT REPURCHASE

        If you want to elect to have this Note repurchased by the Company
pursuant to Section 3.9 of the Indenture, check the box:

                                       [ ]

        If you want to elect to have only part of this Note repurchased by the
Company pursuant to Section 3.9 of the Indenture, state the principal amount
(which shall be $1,000 or a multiple thereof) to be repurchased: $______________

Dated: ______________________           ________________________________________
                                        Signature (sign  exactly as name appears
                                        on the other side of this Note)

_____________________________
Signature Guarantee:(4)

-----------------
        (4) Signature must be guaranteed by a commercial bank, trust company or
member firm of the New York Stock Exchange.

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