Document:

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                                                                     EXHIBIT 4.2

                                  SAFEWAY INC.
                        OFFICERS' CERTIFICATE PURSUANT TO
                     SECTIONS 2.2 AND 10.4 OF THE INDENTURE

                  Vasant M. Prabhu and Melissa C. Plaisance do hereby certify
that they are the Executive Vice President and Chief Financial Officer, and the
Senior Vice President - Finance and Investor Relations, respectively, of Safeway
Inc., a Delaware corporation (the "Company"), and do further certify, pursuant
to resolutions of the Board of Directors of the Company adopted on January 25,
2001 (the "Resolutions"), and in accordance with Sections 2.2 and 10.4 of the
Indenture (the "Indenture") dated as of September 10, 1997 between the Company
and The Bank of New York, as trustee (the "Trustee"), as follows:

                  1. Attached hereto as Annex A is a true and correct copy of a
         specimen note (the "Form of 5-Year Note") representing the Company's
         6.15% Notes Due 2006 (the "5-Year Notes"); and attached hereto as Annex
         B is a true and correct copy of a specimen note (the "Form of 10-Year
         Note") representing the Company's 6.50% Notes Due 2011 (the "10-Year
         Notes"). The Form of 5-Year Note and the Form of 10-Year Note are
         herein collectively referred to as the "Forms of Notes." Each of the
         5-Year Notes and the 10-Year Notes are a separate series of Securities
         under the Indenture and are referred to herein collectively as the
         "Notes."

                  The Company is issuing initially $700 million aggregate
         principal amount of the 5-Year Notes and $500 million aggregate
         principal amount of the 10-Year Notes. The Company may issue additional
         5-Year Notes and/or 10-Year Notes from time to time after the date
         hereof, and such Notes will be treated as part of the respective series
         of Notes for all purposes under the Indenture. No additional Notes Due
         2006 or Notes Due 2011 may be issued if an Event of Default has
         occurred with respect to such Notes Due 2006 or Notes Due 2011.

                  2. The Forms of Notes set forth certain of the terms required
         to be set forth in this certificate pursuant to Section 2.2 of the
         Indenture, and said terms are incorporated herein by reference. The
         5-Year Notes were issued at the initial public offering price of 99.81%
         of principal amount and the 10-Year Notes were issued at the initial
         public offering price of 99.278% of principal amount.

                  3. In addition to the covenants set forth in Article IV of the
         Indenture, each of the 5-Year Notes and the 10-Year Notes shall include
         the following additional covenants, and such additional covenants shall
         be subject to covenant defeasance pursuant to Section 8.4 of the
         Indenture:

                  "Section 4.7 Limitation on Liens.

                  The Company shall not, nor shall it permit any of its
         Subsidiaries to, create, incur, or permit to exist, any Lien on any of
         their respective properties or assets, whether now owned or hereafter
         acquired, or upon any income or profits therefrom, in order to secure
         any Indebtedness of the Company, without effectively providing that
         each series of Notes shall be equally and ratably secured until such
         time as such Indebtedness is no longer secured by such Lien, except:
         (i) Liens existing as of March 5, 2001 (the "Closing Date"); (ii) Liens
         granted after the Closing Date on any assets or properties of the
         Company or any of its Subsidiaries securing Indebtedness of the Company
         created in favor of the Holders of the Notes of such series; (iii)

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         Liens securing Indebtedness of the Company which is incurred to extend,
         renew or refinance Indebtedness which is secured by Liens permitted to
         be incurred under the Indenture; provided that such Liens do not extend
         to or cover any property or assets of the Company or any of its
         Subsidiaries other than the property or assets securing the
         Indebtedness being refinanced and that the principal amount of such
         Indebtedness does not exceed the principal amount of the Indebtedness
         being refinanced; (iv) Permitted Liens; and (v) Liens created in
         substitution of or as replacements for any Liens permitted by the
         preceding clauses (i) through (iv), provided that, based on a good
         faith determination of an officer of the Company, the property or asset
         encumbered under any such substitute or replacement Lien is
         substantially similar in nature to the property or asset encumbered by
         the otherwise permitted Lien which is being replaced.

                  Notwithstanding the foregoing, the Company and any Subsidiary
         of the Company may, without securing any series of Notes, create, incur
         or permit to exist Liens which would otherwise be subject to the
         restrictions set forth in the preceding paragraph, if after giving
         effect thereto and at the time of determination, Exempted Debt does not
         exceed the greater of (i) 10% of Consolidated Net Tangible Assets or
         (ii) $350,000,000.

                  Section 4.8    Limitation on Sale and Lease-Back Transactions.

                  The Company shall not, nor shall it permit any of its
         Subsidiaries to, enter into any sale and lease-back transaction for the
         sale and leasing back of any property or asset, whether now owned or
         hereafter acquired, of the Company or any of its Subsidiaries (except
         such transactions (i) entered into prior to the Closing Date or (ii)
         for the sale and leasing back of any property or asset by a Subsidiary
         of the Company to the Company or (iii) involving leases for less than
         three years or (iv) in which the lease for the property or asset is
         entered into within 120 days after the later of the date of
         acquisition, completion of construction or commencement of full
         operations of such property or asset) unless (a) the Company or such
         Subsidiary would be entitled under Section 4.7 to create, incur or
         permit to exist a Lien on the assets to be leased in an amount at least
         equal to the Attributable Liens in respect of such transaction without
         equally and ratably securing the Notes of any series or (b) the
         proceeds of the sale of the assets to be leased are at least equal to
         their fair market value and the proceeds are applied to the purchase or
         acquisition (or in the case of real property, the construction) of
         assets or to the repayment of Indebtedness of the Company or a
         Subsidiary of the Company which by its terms matures not earlier than
         one year after the date of such repayment."

                  4. In addition to the Events of Default set forth in Section
         6.1 of the Indenture each of the 5-Year Notes and the 10-Year Notes
         shall include the following additional Event of Default, which shall be
         deemed an Event of Default under Section 6.1(g) of the Indenture:

                  "acceleration of $150,000,000 or more, individually or in the
         aggregate, in principal amount of Indebtedness of the Company under the
         terms of the instrument under which such Indebtedness is issued or
         secured, except as a result of compliance with applicable laws, orders
         or decrees, if such Indebtedness shall not have been discharged or such
         acceleration is not annulled within 10 days after written notice."

                  5. In addition to the definitions set forth in Article I of
         the Indenture, each of the 5-Year Notes and the 10-Year Notes shall
         include the following additional definitions, which, in the event of a
         conflict with the definition of terms in the Indenture, shall control:

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                  "Attributable Liens" means in connection with a sale and
         lease-back transaction the lesser of (a) the fair market value of the
         assets subject to such transaction and (b) the present value
         (discounted at a rate per annum equal to the average interest borne by
         all outstanding Securities issued under the Indenture determined on a
         weighted average basis and compounded semi-annually) of the obligations
         of the lessee for rental payments during the term of the related lease.

                  "Bank Credit Agreement" means the Credit Agreement dated as of
         April 8, 1997 among the Company, The Vons Companies, Inc. and Canada
         Safeway Limited, as borrowers, Bankers Trust Company, as administrative
         agent, The Chase Manhattan Bank, as syndication agent, The Bank of Nova
         Scotia and Bank of America National Trust and Savings Association, as
         documentation agents, and the other lenders which are parties thereto,
         as amended and as such agreement may be amended (including any
         amendment, restatement and successors thereof), supplemented or
         otherwise modified from time to time, including any increase in the
         principal amount of the obligations thereunder.

                  "Capital Lease" means any Indebtedness represented by a lease
         obligation of a person incurred with respect to real property or
         equipment acquired or leased by such person and used in its business
         that is required to be recorded as a capital lease in accordance with
         GAAP.

                  "Consolidated Net Tangible Assets" means the total amount of
         assets of the Company and its Subsidiaries (less applicable
         depreciation, amortization and other valuation reserves) after
         deducting therefrom (i) all current liabilities of the Company and its
         Subsidiaries and (ii) all goodwill, trade names, trademarks, patents,
         unamortized debt discount and expenses and other like intangibles,
         determined on a consolidated basis in accordance with GAAP.

                  "Currency Agreement" means any foreign exchange contract,
         currency swap agreement or other similar agreement or arrangement
         designed to protect the Company or any of its Subsidiaries against
         fluctuations in currency values.

                  "Exempted Debt" means the sum of the following as of the date
         of determination: (i) Indebtedness of the Company incurred after the
         Closing Date and secured by Liens not otherwise permitted by the first
         sentence under Section 4.7, and (ii) Attributable Liens of the Company
         and its Subsidiaries in respect of sale and lease-back transactions
         entered into after the Closing Date, other than sale and lease-back
         transactions permitted by the limitation on sale and lease-back
         transactions set forth under Section 4.8. For purposes of determining
         whether or not a sale and lease-back transaction is "permitted" by
         Section 4.8, the last paragraph under Section 4.7 (creating an
         exception for Exempted Debt) will be disregarded.

                  "Indebtedness" of any person means, without duplication, any
         indebtedness, whether or not contingent, in respect of borrowed money
         or evidenced by bonds, notes, debentures or similar instruments or
         letters of credit (or reimbursement agreements with respect thereto) or
         representing the balance deferred and unpaid of the purchase price of
         any property (including pursuant to Capital Leases), except any such
         balance that constitutes an accrued expense or trade payable, if and to
         the extent any of the foregoing indebtedness would appear as a
         liability upon a balance sheet of such person prepared on a
         consolidated basis in accordance with GAAP (but does not include
         contingent liabilities which appear only in a footnote to a balance
         sheet), and shall also include, to the extent not otherwise included,
         the guaranty of items which would be included within this definition.

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                  "Interest Swap Obligations" means the obligations of any
         person pursuant to any interest rate swap agreement, interest rate
         collar agreement or other similar agreement or arrangement designed to
         protect such person or any of its Subsidiaries against fluctuations in
         interest rates.

                  "Joint Venture" means a joint venture, partnership or other
         similar arrangement, whether in corporate, partnership or other legal
         form; provided that, as to any such arrangement in corporate form, such
         corporation shall not, as to any person of which such corporation is a
         Subsidiary, be considered to be a Joint Venture to which such person is
         a party.

                  "Lien" means any lien, security interest, charge or
         encumbrance of any kind (including any conditional sale or other title
         retention agreement, any lease in the nature thereof, and any agreement
         to give any security interest).

                  "Permitted Liens" means (i) Liens securing Indebtedness of the
         Company under the Bank Credit Agreement and any initial or subsequent
         renewal, extension, refinancing, replacement or refunding thereof; (ii)
         Liens on accounts receivable, merchandise inventory, equipment, and
         patents, trademarks, trade names and other intangibles, securing
         Indebtedness of the Company; (iii) Liens on any asset of the Company,
         any Subsidiary of the Company, or any Joint Venture to which the
         Company or any of its Subsidiaries is a party, created solely to secure
         obligations incurred to finance the refurbishment, improvement or
         construction of such asset, which obligations are incurred no later
         than 24 months after completion of such refurbishment, improvement or
         construction, and all renewals, extensions, refinancings, replacements
         or refundings of such obligations; (iv)(a) Liens given to secure the
         payment of the purchase price incurred in connection with the
         acquisition (including acquisition through merger or consolidation) of
         property (including shares of stock), including Capital Lease
         transactions in connection with any such acquisition, and (b) Liens
         existing on property at the time of acquisition thereof or at the time
         of acquisition by the Company or a Subsidiary of the Company of any
         person then owning such property whether or not such existing Liens
         were given to secure the payment of the purchase price of the property
         to which they attach; provided that, with respect to clause (a), the
         Liens shall be given within 24 months after such acquisition and shall
         attach solely to the property acquired or purchased and any
         improvements then or thereafter placed thereon; (v) Liens in favor of
         customs and revenue authorities arising as a matter of law to secure
         payment of customs duties in connection with the importation of goods;
         (vi) Liens upon specific items of inventory or other goods and proceeds
         of any person securing such person's obligations in respect of bankers'
         acceptances issued or created for the account of such person to
         facilitate the purchase, shipment or storage of such inventory or other
         goods; (vii) Liens securing reimbursement obligations with respect to
         letters of credit that encumber documents and other property relating
         to such letters of credit and the products and proceeds thereof; (viii)
         Liens on key-man life insurance policies granted to secure Indebtedness
         of the Company against the cash surrender value thereof; (ix) Liens
         encumbering customary initial deposits and margin deposits and other
         Liens in the ordinary course of business, in each case securing
         Indebtedness of the Company under Interest Swap Obligations and
         Currency Agreements and forward contract, option, futures contracts,
         futures options or similar agreements or arrangements designed to
         protect the Company or any of its Subsidiaries from fluctuations in
         interest rates, currencies or the price of commodities; (x) Liens
         arising out of conditional sale, title retention, consignment or
         similar arrangements for the sale of goods entered into by the Company
         or any of its Subsidiaries in the ordinary course of business; and (xi)
         Liens in favor of the Company or any Subsidiary of the Company.

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                  6. Each of the undersigned is authorized to approve the form,
         terms and conditions of the Notes pursuant to the Resolutions.

                  7. Attached hereto as Annex C is a true and correct copy of
         the Resolutions.

                  8. The Notes shall be issued as Global Securities (subject to
         exchange for definitive certificated Notes under the circumstances
         provided in the Indenture) and The Depository Trust Company shall be
         Depository for the Notes.

                  9. Attached hereto as Annex D are true and correct copies of
         the letter addressed to the Trustee entitling the Trustee to rely on
         the Opinion of Counsel attached thereto, which Opinion relates to the
         Notes and complies with Section 10.4(b) of the Indenture.

                  10. Each of the undersigned has reviewed the provisions of the
         Indenture, including the covenants and conditions precedent pertaining
         to the issuance of the Notes.

                  11. In connection with this certificate each of the
         undersigned has examined documents, corporate records and certificates
         and has spoken with other officers of the Company.

                  12. Each of the undersigned has made such examination and
         investigation as is necessary to enable the undersigned to express an
         informed opinion as to whether or not the covenants and conditions
         precedent of the Indenture pertaining to the issuance of the Notes have
         been satisfied.

                  13. In our opinion all of the covenants and conditions
         precedent provided for in the Indenture for the issuance of the Notes
         have been satisfied.

                  Capitalized terms used herein that are not otherwise defined
shall have the meanings ascribed thereto in the Indenture or the Notes, as the
case may be.

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                  IN WITNESS WHEREOF, each of the undersigned officers has
executed this certificate this 5th day of March, 2001.

                                /s/ Vasant M. Prabhu
                           _______________________________________
                           Name:    Vasant M. Prabhu
                           Title:   Executive Vice President and Chief
                                    Financial Officer

                                /s/ Melissa C. Plaisance
                           _______________________________________
                           Name:    Melissa C. Plaisance
                           Title:   Senior Vice President - Finance and
                                    Investor Relations

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                                     ANNEX A

                               FORM OF 5-YEAR NOTE

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                                     ANNEX B

                              FORM OF 10-YEAR NOTE

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                                     ANNEX C

                                   RESOLUTIONS

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                                     ANNEX D

                             TRUSTEE RELIANCE LETTER<PAGE>   1
                                                                     EXHIBIT 4.3

THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE
HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITORY TRUST
COMPANY, A NEW YORK CORPORATION (THE "DEPOSITARY"), OR A NOMINEE THEREOF. THIS
SECURITY IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER
THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED
IN THE INDENTURE, AND MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY
TO A NOMINEE OF THE DEPOSITARY, BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY
OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO
A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITARY TO 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 THE
DEPOSITARY (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY), ANY TRANSFER,
PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

                                  SAFEWAY INC.
                               6.15% Note Due 2006

No. S-[___]                                                       $[___________]

                                                            CUSIP No. 786514 BB4

                  SAFEWAY INC., a Delaware corporation (the "Company," which
term includes any successor corporation under the Indenture hereinafter referred
to), for value received promises to pay to

                             CEDE & CO.                  , or registeed assigns,

the principal sum of      [_____________________]                        DOLLARS

on March 1, 2006, and to pay interest thereon from March 5, 2001, or the most
recent interest payment date to which interest has been paid or provided for, as
the case may be, payable on March 1 and September 1 of each year, commencing
September 1, 2001, at the rate of 6.15% per annum, until the principal hereof is
paid or made available for payment, and (to the extent that the payment of such
interest is permitted by law) to pay interest at the rate per annum borne by
this Security on any overdue principal and on any overdue installment of
interest until paid. The interest so payable, and punctually paid or duly
provided for, on any interest payment date will be paid to the person in whose
name this Security (or one or more predecessor Securities) is registered at the
close of business on the regular record date for such interest,

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which shall be the February 15 or August 15 (whether or not a Business Day), as
the case may be, next preceding such interest payment date. Any such interest
not so punctually paid or duly provided for will forthwith cease to be payable
to the Holder on such regular record date and may either be paid to the person
in whose name this Security (or one or more predecessor Securities) is
registered at the close of business on a special record date for the payment of
such defaulted interest to be fixed by the Company, notice whereof shall be
given to the Trustee and the Holders not less than 10 days prior to such special
record date, or be paid at any time in any other lawful manner. Interest on the
Securities shall be computed on the basis of a 360-day year of twelve 30-day
months.

                  Principal of and interest on the Securities will be payable in
such coin or currency of the United States of America as at the time of payment
is legal tender for payment of public and private debts, the transfer of the
Securities will be registrable, the Securities may be presented for exchange,
and notices and demands to or upon the Company in respect of this Security and
the Indenture may be served, at the office or agency of the Company maintained
for such purpose (which initially will be the Corporate Trust Office of the
Trustee located at 101 Barclay Street, Floor 21W, New York, New York 10286,
Attention: Corporate Trust Administration); provided that, unless all of the
outstanding Securities are Global Securities, the Company will at all times
maintain an office or agency for such purposes in the Borough of Manhattan, The
City of New York; and provided, further, that, except as provided in the next
sentence, payment of interest may, at the option of the Company, be made by
check mailed to the address of the person entitled thereto. If this Security is
a Global Security, the interest payable on this Security will be paid to Cede &
Co., the nominee of the Depositary, or its registered assigns as the registered
owner of this Security, by wire transfer of immediately available funds on each
of the applicable interest payment dates.

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

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

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                  IN WITNESS WHEREOF, the Company has caused this Security to be
signed manually or by facsimile by its duly authorized officers and a facsimile
of its corporate seal to be affixed hereto or imprinted hereon.

Date:

SAFEWAY INC.
BY                                  BY

SENIOR VICE PRESIDENT               SENIOR VICE PRESIDENT

TRUSTEE'S CERTIFICATE
OF AUTHENTICATION
This is one of the 6.15% Notes due
March 1, 2006 described in the
within-mentioned Indenture.

THE BANK OF NEW YORK
BY

AUTHORIZED SIGNATORY

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                                  SAFEWAY INC.
                               6.15% Note Due 2006

1.       General.

         This Security is one of a duly authorized series of securities of the
Company issued and to be issued under an Indenture, dated as of September 10,
1997, as amended, modified or supplemented from time to time (the "Indenture"),
between the Company and The Bank of New York, as Trustee (the "Trustee", which
term includes any successor trustee under the Indenture), to which Indenture and
all indentures supplemental thereto reference is hereby made for a statement of
the respective rights, limitations of rights, duties and immunities thereunder
of the Company, the Trustee and the Holders of the Securities, and of the terms
upon which the Securities are, and are to be, authenticated and delivered. This
Security is one of the series designated on the face hereof, originally issued
in $700,000,000 aggregate principal amount, subject to increase in accordance
with the Indenture, (herein called the "Securities"). All terms used but not
defined in this Security shall have the meanings assigned to them in the
Indenture.

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

2.       Indenture.

         The terms of the Securities include those stated in the Indenture and
those made part of the Indenture by the Officers' Certificate dated March 5,
2001 delivered pursuant thereto and the TIA. The Securities are subject to all
such terms, and the Securityholders are referred to the Indenture and said Act
for a statement of them.

3.       Sinking Fund.

         The Securities are not subject to any sinking fund and the Securities
are not subject to redemption or repurchase by the Company at the option of the
Holders.

4.       Redemption.

         The Securities are redeemable, in whole or in part, at the option of
the Company at any time at a redemption price equal to the greater of (i) 100%
of the principal amount of the Securities to be redeemed; or (ii) as determined
by an Independent Investment Banker, the sum of the present values of the
remaining scheduled payments of principal and interest thereon (not including
any portion of such payments of interest accrued as of the date of redemption)
discounted to the redemption date on a semiannual basis (assuming a 360-day year
consisting of twelve 30-day months) at the Adjusted Treasury Rate, plus 15 basis
points, plus, in each case, accrued and unpaid interest thereon to the date of
redemption.

         "Adjusted Treasury Rate" means, with respect to any redemption date:
(i) the yield, under the heading which represents the average for the
immediately preceding week, appearing in the most recently published statistical
release designated "H.15(519)" or any successor publication which is published
weekly by the Board of Governors of the Federal Reserve System and which
establishes yields on actively traded United States Treasury securities adjusted
to constant maturity under the caption "Treasury Constant Maturities," for the
maturity corresponding to the Comparable Treasury Issue (if no maturity is
within three months before or after the Remaining Life of the Securities, yields
for the two published maturities most closely corresponding to the Comparable
Treasury Issue shall be determined and the Adjusted Treasury Rate shall be
interpolated or extrapolated from such yields on a straight line basis, rounding
to the nearest month); or (ii) if such release (or any successor release) is not
published during the week preceding the calculation date or does not contain
such yields, the rate per annum equal to the semi-annual equivalent yield to
maturity of the Comparable Treasury Issue, calculated using a price

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for the Comparable Treasury Issue (expressed as a percentage of its principal
amount) equal to the Comparable Treasury Price for such redemption date. The
Adjusted Treasury Rate shall be calculated on the third Business Day preceding
the redemption date.

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

         "Comparable Treasury Price" means (1) the average of five Reference
Treasury Dealer Quotations for the applicable redemption date, after excluding
the highest and lowest Reference Treasury Dealer Quotations, or (2) if the
Independent Investment Banker obtains fewer than five such Reference Treasury
Dealer Quotations, the average of all such quotations.

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

         "Reference Treasury Dealer" means (i) each of Merrill Lynch, Pierce,
Fenner & Smith Incorporated and Morgan Stanley & Co. Incorporated and their
respective successors; provided, however, that if either of the foregoing shall
cease to be a primary U.S. Government securities dealer in New York City (a
"Primary Treasury Dealer"), the Company shall substitute therefor another
Primary Treasury Dealer and (ii) any other Primary Treasury Dealer selected by
the Trustee after consultation with the Company.

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

         Notice of any redemption will be mailed at least 30 days but not more
than 60 days before the redemption date to each Holder of the Securities to be
redeemed.

5.       Denominations; Transfer; Exchange.

         This Security is issuable only in registered form without coupons in
minimum denominations of U.S. $1,000 and integral multiples thereof.

         As provided in the Indenture and subject to certain limitations therein
and herein set forth, the transfer, or the exchange for an equal principal
amount, of this Security is registrable with the Registrar upon surrender of
this Security for registration of transfer at the office or agency of the
Registrar.

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

6.       Persons Deemed Owners.

         Prior to due presentment of this Security for registration of transfer,
the Company, the Trustee and any agent of the Company or the Trustee may treat
the Holder in whose name this Security is registered as the owner thereof for
all purposes, whether or not this Security be overdue, and neither the Company,
the Trustee nor any such agent shall be affected by notice to the contrary.

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7.       Unclaimed Money.

         The Trustee and any Paying Agent shall pay to the Company upon request
any money held by them for the payment of principal and interest that remains
unclaimed for two years. After that, Securityholders entitled to the money must
look to the Company for payment as general creditors unless an applicable
abandoned property law designates another person.

8.       Defeasance Prior to Maturity.

         The Indenture contains provisions for defeasance of (i) the entire
indebtedness of the Securities or (ii) certain covenants and Events of Default
with respect to the Securities, in each case upon compliance with certain
conditions set forth therein.

9.       Amendment; Supplement; Waiver.

         Subject to certain limitations described in the Indenture, the
Indenture permits the Company and the Trustee to enter into a supplemental
indenture with the written consent of the Holders of at least a majority in
principal amount of the outstanding Securities (including consents obtained in
connection with a tender offer or exchange offer for the Securities), for the
purpose of adding any provisions to or changing in any manner or eliminating any
of the provisions of the Indenture or of any supplemental indenture or modifying
in any manner the rights of the Securityholders. Subject to certain limitations
described in the Indenture, the Holders of at least a majority in principal
amount of the outstanding Securities by notice to the Trustee (including
consents obtained in connection with a tender offer or exchange offer for the
Securities) may waive compliance by the Company with any provision of the
Indenture or the Securities. Any such consent or waiver by the Holder of this
Security shall be conclusive and binding upon such Holder and upon all future
Holders of this Security and of any Security issued upon the registration of
transfer hereof or in exchange herefor or in lieu hereof, whether or not
notation of such consent or waiver is made upon this Security.

10.      Restrictive Covenants.

         The Indenture imposes certain limitations on the Company's and its
Subsidiaries' ability to create or incur certain Liens on any of their
respective properties or assets and to enter into certain sale and lease-back
transactions and on the Company's ability to engage in mergers or consolidations
or the conveyance, transfer or lease of all or substantially all of its
properties and assets. These limitations are subject to a number of important
qualifications and exceptions and reference is made to the Indenture for a
description thereof.

11.      Defaults and Remedies.

         If an Event of Default shall occur and be continuing, the principal of
the Securities may be declared (or, in certain cases, shall ipso facto become)
due and payable in the manner and with the effect provided in the Indenture.

12.      Proceedings.

         As provided in and subject to the provisions of the Indenture, the
Holder of this Security shall not have the right to institute any proceeding,
judicial or otherwise, with respect to the Indenture or for the appointment of a
receiver or trustee, or for any other remedy under the Indenture, unless such
Holder shall have previously given the Trustee written notice of a continuing
Event of Default with respect to the Securities and unless also the Holders of
at least a majority in principal amount of the Securities at the time
outstanding shall have made written request, and offered reasonable indemnity,
to the Trustee to institute such proceedings as trustee, and the Trustee shall
not have received from the Holders of a majority in principal amount of
Securities at the time outstanding a direction inconsistent with such request,
and shall have failed to institute such proceeding, within 60 days. The
foregoing shall not apply

                                       6

<PAGE>   7

to any suit instituted by the Holder of this Security for the enforcement of any
payment of the principal hereof or any interest hereon on or after the
respective due dates expressed herein.

13.      Trustee Dealings with Company.

         The Trustee under the Indenture, in its individual or any other
capacity, may deal with the Company or an Affiliate of the Company with the same
rights it would have if it were not Trustee.

14.      No Recourse Against Others.

         A past, present or future director, officer, employee, shareholder or
incorporator, as such, of the Company or any successor corporation shall not
have any liability for any obligations of the Company under this Security or the
Indenture or for any claim based on, in respect of, or by reason of such
obligations or their creation. Each Securityholder by accepting a Security
waives and releases all such liability. The waiver and release are part of the
consideration of issuance of the Securities.

15.      Governing Law.

         The internal laws of the State of New York shall govern the Indenture
and the Securities.

                                       7

<PAGE>   8

                                  ABBREVIATIONS

         The following abbreviations, when used in the inscription on the face
of this Security, shall be construed as though they were written out in full
according to applicable laws or regulations:

<TABLE>
<S>                                          <C>
TEN COM - as tenants in common                UNIF GIFT MIN ACT - ______ Custodian _______
TEN ENT - as tenants by the entireties                            (Cust)           (Minor)
JT TEN  - as joint tenants with right of      under Uniform Gifts to Minors
          survivorship and not as tenants     Act_____________________
          in common                                   (State)
</TABLE>

         Additional abbreviations may also be used though not in the above list.

                       ___________________________________

                                   ASSIGNMENT

  FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s)
  unto

PLEASE INSERT SOCIAL SECURITY OR
                  OTHER
IDENTIFYING NUMBER OF ASSIGNEE
______________________________
|            |

________________________________________________________________________________
(Please print or typewrite name and address including postal zip code of
 assignee)

       __________________________________________________________________

this Security and all rights thereunder hereby irrevocably constituting and
appointing

____________________________________________________________________, Attorney,
to transfer this Security on the books of the Trustee, with full power of
substitution in the premises.

Dated:_____________________           _______________________________________

                                         _______________________________________

                                         Notice: The signature(s) on this
                                         Assignment must correspond with the
                                         name(s) as written upon the face of
                                         this Security in every particular,
                                         without alteration or enlargement or
                                         any change whatsoever.

                                       8

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