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exv4w1

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Exhibit 4.1

 

EXECUTION COPY

 

STATS CHIPPAC LTD.

7.5% SENIOR NOTES DUE 2010

 

INDENTURE

Dated as of July 19, 2005

 

U.S. BANK NATIONAL ASSOCIATION

Trustee

 

 

 

Table of Contents

CROSS-REFERENCE TABLE*

	 	 	 
	Trust Indenture	 	 
	Act Section	 	Indenture Section
	310(a)(1)
	 	7.10
	(a)(2)
	 	7.10
	(a)(3)
	 	N.A.
	(a)(4)
	 	N.A.
	(a)(5)
	 	7.10
	(b)
	 	7.10
	(c)
	 	N.A.
	311(a)
	 	7.11
	(b)
	 	7.11
	(c)
	 	N.A.
	312(a)
	 	2.05
	(b)
	 	11.03
	(c)
	 	11.03
	313(a)
	 	7.06
	(b)(1)
	 	N.A.
	(b)(2)
	 	7.06; 7.07
	(c)
	 	7.06; 11.02
	(d)
	 	7.06
	314(a)
	 	4.03;11.02; 11.05
	(b)
	 	N.A.
	(c)(1)
	 	11.04
	(c)(2)
	 	11.04
	(c)(3)
	 	N.A.
	(d)
	 	N.A.
	(e)
	 	11.05
	(f)
	 	N.A.
	315(a)
	 	7.01
	(b)
	 	7.05; 11.02
	(c)
	 	7.01
	(d)
	 	7.01
	(e)
	 	6.11
	316(a) (last sentence)
	 	2.09
	(a)(1)(A)
	 	6.05
	(a)(1)(B)
	 	6.04
	(a)(2)
	 	N.A.
	(b)
	 	6.07
	(c)
	 	2.12
	317(a)(1)
	 	6.08
	(a)(2)
	 	6.09
	(b)
	 	2.04
	318(a)
	 	11.01
	(b)
	 	N.A.
	(c)
	 	11.01

 

			
	N.A. means not applicable.
	 
	*	 	This Cross Reference Table is not part of the Indenture.

 

Table of Contents

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page
	ARTICLE 1

	DEFINITIONS AND INCORPORATION

	BY REFERENCE

	 
	 	 	 	 
	Section 1.01 Definitions
	 	 	1	 
	Section 1.02 Other Definitions
	 	 	24	 
	Section 1.03 Incorporation by Reference of Trust Indenture Act
	 	 	24	 
	Section 1.04 Rules of Construction
	 	 	25	 
	 
	 	 	 	 
	 ARTICLE 2

	THE NOTES

	 
	 	 	 	 
	Section 2.01 Form and Dating
	 	 	25	 
	Section 2.02 Execution and Authentication
	 	 	26	 
	Section 2.03 Registrar and Paying Agent
	 	 	26	 
	Section 2.04 Paying Agent to Hold Money in Trust
	 	 	27	 
	Section 2.05 Holder Lists
	 	 	27	 
	Section 2.06 Transfer and Exchange
	 	 	27	 
	Section 2.07 Replacement Notes
	 	 	39	 
	Section 2.08 Outstanding Notes
	 	 	39	 
	Section 2.09 Treasury Notes
	 	 	40	 
	Section 2.10 Temporary Notes
	 	 	40	 
	Section 2.11 Cancellation
	 	 	40	 
	Section 2.12 Defaulted Interest
	 	 	40	 
	 
	 	 	 	 
	ARTICLE 3

	REDEMPTION AND PREPAYMENT

	 
	 	 	 	 
	Section 3.01 Notices to Trustee
	 	 	40	 
	Section 3.02 Selection of Notes to Be Redeemed or Purchased
	 	 	41	 
	Section 3.03 Notice of Redemption
	 	 	41	 
	Section 3.04 Effect of Notice of Redemption
	 	 	42	 
	Section 3.05 Deposit of Redemption or Purchase Price
	 	 	42	 
	Section 3.06 Notes Redeemed or Purchased in Part
	 	 	42	 
	Section 3.07 Optional Redemption
	 	 	43	 
	Section 3.08 Mandatory Redemption
	 	 	44	 
	Section 3.09 Offer to Purchase by Application of Excess Proceeds
	 	 	44	 
	 
	 	 	 	 
	 ARTICLE 4

	COVENANTS

	 
	 	 	 	 
	Section 4.01 Payment of Notes
	 	 	45	 
	Section 4.02 Maintenance of Office or Agency
	 	 	46	 
	Section 4.03 Reports
	 	 	46	 
	Section 4.04 Compliance Certificate
	 	 	47	 
	Section 4.05 Taxes
	 	 	47	 
	Section 4.06 Stay, Extension and Usury Laws
	 	 	48	 
	Section 4.07 Restricted Payments
	 	 	48	 
	Section 4.08 Limitations on Restrictions on Distributions from Restricted Subsidiaries
	 	 	51	 
	Section 4.09 Limitation on Indebtedness
	 	 	53	 

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	 	 	Page
	Section 4.10 Asset Sales
	 	 	56	 
	Section 4.11 Transactions with Affiliates
	 	 	57	 
	Section 4.12 Liens
	 	 	58	 
	Section 4.13 Limitation on Assets of Non-Guarantors
	 	 	59	 
	Section 4.14 Corporate Existence
	 	 	59	 
	Section 4.15 Offer to Repurchase Upon Change of Control
	 	 	59	 
	Section 4.16 Note Guarantee by STATS ChipPAC Korea
	 	 	61	 
	Section 4.17 No Amendment to Subordination Provisions
	 	 	61	 
	Section 4.18 Payments for Consent
	 	 	62	 
	Section 4.19 Payment of Additional Amounts
	 	 	62	 
	Section 4.20 Additional Note Guarantees
	 	 	63	 
	 
	 	 	 	 
	ARTICLE 5

	SUCCESSORS

	 
	 	 	 	 
	Section 5.01 Merger, Consolidation, or Sale of Assets
	 	 	63	 
	Section 5.02 Merger, Consolidation, or Sale of Assets of Guarantors
	 	 	65	 
	 
	 	 	 	 
	 ARTICLE 6

	DEFAULTS AND REMEDIES

	 
	 	 	 	 
	Section 6.01 Events of Default
	 	 	66	 
	Section 6.02 Acceleration
	 	 	67	 
	Section 6.03 Other Remedies
	 	 	68	 
	Section 6.04 Waiver of Past Defaults
	 	 	68	 
	Section 6.05 Control by Majority
	 	 	68	 
	Section 6.06 Limitation on Suits
	 	 	69	 
	Section 6.07 Rights of Holders of Notes to Receive Payment
	 	 	69	 
	Section 6.08 Collection Suit by Trustee
	 	 	69	 
	Section 6.09 Trustee May File Proofs of Claim
	 	 	69	 
	Section 6.10 Priorities
	 	 	70	 
	Section 6.11 Undertaking for Costs
	 	 	70	 
	 
	 	 	 	 
	 ARTICLE 7

	TRUSTEE

	 
	 	 	 	 
	Section 7.01 Duties of Trustee
	 	 	71	 
	Section 7.02 Rights of Trustee
	 	 	72	 
	Section 7.03 Individual Rights of Trustee
	 	 	73	 
	Section 7.04 Trustee’s Disclaimer
	 	 	73	 
	Section 7.05 Notice of Defaults
	 	 	74	 
	Section 7.06 Reports by Trustee to Holders of the Notes
	 	 	74	 
	Section 7.07 Compensation and Indemnity
	 	 	74	 
	Section 7.08 Replacement of Trustee
	 	 	75	 
	Section 7.09 Successor Trustee by Merger, etc
	 	 	76	 
	Section 7.10 Eligibility; Disqualification
	 	 	76	 
	Section 7.11 Preferential Collection of Claims Against Company
	 	 	76	 
	 
	 	 	 	 
	ARTICLE 8

	LEGAL DEFEASANCE AND COVENANT DEFEASANCE

	 
	 	 	 	 
	Section 8.01 Option to Effect Legal Defeasance or Covenant Defeasance
	 	 	76	 
	Section 8.02 Legal Defeasance and Discharge
	 	 	76	 
	Section 8.03 Covenant Defeasance
	 	 	77	 

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	 	 	Page
	Section 8.04 Conditions to Legal or Covenant Defeasance
	 	 	77	 
	Section 8.05 Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous Provisions
	 	 	79	 
	Section 8.06 Repayment to Company
	 	 	80	 
	Section 8.07 Reinstatement
	 	 	80	 
	 
	 	 	 	 
	ARTICLE 9

	AMENDMENT, SUPPLEMENT AND WAIVER

	 
	 	 	 	 
	Section 9.01 Without Consent of Holders of Notes
	 	 	80	 
	Section 9.02 With Consent of Holders of Notes
	 	 	81	 
	Section 9.03 Compliance with Trust Indenture Act
	 	 	83	 
	Section 9.04 Revocation and Effect of Consents
	 	 	83	 
	Section 9.05 Notation on or Exchange of Notes
	 	 	83	 
	Section 9.06 Trustee to Sign Amendments, etc
	 	 	83	 
	 
	 	 	 	 
	 ARTICLE 10

	SATISFACTION AND DISCHARGE

	 
	 	 	 	 
	Section 10.01 Satisfaction and Discharge
	 	 	83	 
	Section 10.02 Application of Trust Money
	 	 	84	 
	 
	 	 	 	 
	 ARTICLE 11

	MISCELLANEOUS

	 
	 	 	 	 
	Section 11.01 Trust Indenture Act Controls
	 	 	85	 
	Section 11.02 Notices
	 	 	85	 
	Section 11.03 Communication by Holders of Notes with Other Holders of Notes
	 	 	86	 
	Section 11.04 Certificate and Opinion as to Conditions Precedent
	 	 	86	 
	Section 11.05 Statements Required in Certificate or Opinion
	 	 	86	 
	Section 11.06 Rules by Trustee and Agents
	 	 	87	 
	Section 11.07 No Personal Liability of Directors, Officers, Employees and Stockholders
	 	 	87	 
	Section 11.08 Governing Law
	 	 	87	 
	Section 11.09 JURISDICTION
	 	 	87	 
	Section 11.10 Waiver of Immunity
	 	 	87	 
	Section 11.11 Process Agent
	 	 	88	 
	Section 11.12 No Adverse Interpretation of Other Agreements
	 	 	88	 
	Section 11.13 Successors
	 	 	88	 
	Section 11.14 Severability
	 	 	88	 
	Section 11.15 Counterpart Originals
	 	 	88	 
	Section 11.16 Currency Indemnity
	 	 	88	 
	Section 11.17 Currency Calculation
	 	 	89	 
	Section 11.18 Table of Contents, Headings, etc
	 	 	89	 
	 
	 	 	 	 
	EXHIBITS

	 
	 	 	 	 
	Exhibit A
FORM OF NOTE
	 	 	 	 
	Exhibit B FORM OF CERTIFICATE OF TRANSFER
	 	 	 	 
	Exhibit C FORM OF CERTIFICATE OF EXCHANGE
	 	 	 	 
	Exhibit D FORM OF CERTIFICATE OF ACQUIRING INSTITUTIONAL ACCREDITED INVESTOR
	 	 	 	 
	Exhibit E FORM OF NOTATION OF GUARANTEE
	 	 	 	 
	Exhibit F FORM OF SUBSIDIARY GUARANTEE AGREEMENT
	 	 	 	 

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     INDENTURE dated as of July 19, 2005 between STATS ChipPAC Ltd., corporation organized
under the laws of the Republic of Singapore, and U.S. Bank National Association, as trustee.

     The Company and the Trustee agree as follows for the benefit of each other and for the equal
and ratable benefit of the Holders (as defined below) of the 7.5% Senior Notes due 2010 (the
“Notes”):

ARTICLE 1

DEFINITIONS AND INCORPORATION

BY REFERENCE

Section 1.01 Definitions.

     “144A Global Note” means a Global Note substantially in the form of Exhibit A hereto
bearing the Global Note Legend and the Private Placement Legend and deposited with or on behalf of,
and registered in the name of, the Depositary or its nominee that will be issued in a denomination
equal to the outstanding principal amount of the Notes sold in reliance on Rule 144A.

     “Additional Notes” means additional Notes (other than the Initial Notes) issued under this
Indenture in accordance with Sections 2.02 and 4.09 hereof, as part of the same series as the
Initial Notes.

     “Affiliate” of any specified Person means any other Person directly or indirectly controlling
or controlled by or under direct or indirect common control with such specified Person. For
purposes of this definition, “control,” as used with respect to any Person, means the possession,
directly or indirectly, of the power to direct or cause the direction of the management or policies
of such Person, whether through the ownership of voting securities, by agreement or otherwise;
provided that beneficial ownership of 10% or more of the Voting Stock of a Person will be deemed to
be control. For purposes of this definition, the terms “controlling,” “controlled by” and “under
common control with” have correlative meanings.

     “Agent” means any Registrar, co-registrar, Paying Agent or additional paying agent.

     “Applicable Premium” means, with respect to any Note on any redemption date, the excess of:

          (1) the present value at such redemption date of (a) the redemption price of the Note
at 107.5%, plus (b) all required interest payments due on the Note through July 19, 2010,
(excluding accrued but unpaid interest to the redemption date), computed using a discount
rate equal to the Treasury Rate as of such redemption date plus 50 basis points; over

          (2) the principal amount of the Note, if greater.

     “Applicable Procedures” means, with respect to any transfer or exchange of or for beneficial
interests in any Global Note, the rules and procedures of the Depositary, Euroclear and Clearstream
that apply to such transfer or exchange.

     “Asset Sale” means (1) the sale, lease, conveyance or other disposition of any assets or
rights; provided that the sale, lease, conveyance or other disposition of all or substantially all
of the assets of the Company and its Restricted Subsidiaries taken as a whole will be governed by
Section 4.15 hereof and/or Section 5.01 hereof, and not by the provisions of Section 4.10 hereof;
and (2) the issuance of Equity Interests in any of the Restricted Subsidiaries or the sale of
Equity Interests in any of the Company’s Subsidiaries.

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     Notwithstanding the preceding, none of the following items will be deemed to be an Asset Sale:

     (a) any single transaction or series of related transactions that involves assets having a
Fair Market Value of less than $1.0 million;

     (b) a transfer of assets between or among the Company and the Guarantors;

     (c) an issuance of Equity Interests by a Restricted Subsidiary to the Company or to a
Guarantor;

     (d) the sale or lease of products, services, accounts receivable or inventory in the ordinary
course of business and any sale or other disposition of damaged, uneconomical, negligible, surplus,
worn-out or obsolete assets or assets that are no longer useful in the conduct of business of the
Company and its Restricted Subsidiaries, in each case, in the ordinary course of business;

     (e) the sale or other disposition of cash or Temporary Cash Investments;

     (f) a Restricted Payment that does not violate Section 4.07 hereof or a Permitted Investment;

     (g) the issuance, sale or other disposition of shares of Capital Stock of a Restricted
Subsidiary where such shares are directors’ qualifying shares or are required by applicable law to
be held by a Person other than the Company or a Restricted Subsidiary;

     (h) dispositions of receivables in connection with the compromise, settlement or collection
thereof in the ordinary course of business or in bankruptcy or similar proceedings; and

     (i) the lease, assignment or sublease of any real or personal property in the ordinary course
of business and consistent in scale and scope with past practice.

     “Attributable Debt” relating to a Sale/Leaseback Transaction means, as at the time of
determination, the present value (discounted at the interest rate borne by the Notes, compounded
annually) of the total obligations of the lessee for rental payments during the remaining term of
the lease included in the Sale/ Leaseback Transaction, including any period for which the lease has
been extended or may, at the option of the lessor, be extended.

     “Average Life” means, as of the date of determination, relating to any Indebtedness or
Preferred Stock, the quotient obtained by dividing: (1) the sum of the products of the numbers of
years from the date of determination to the dates of each successive scheduled principal payment of
the Indebtedness or redemption or similar payment relating to the Preferred Stock multiplied by the
amount of the payment by (2) the sum of all the payments.

     “Bankruptcy Law” means Title 11, U.S. Code or any similar federal or state law for the relief
of debtors.

     “Beneficial Owner” has the meaning assigned to such term in Rule 13d-3 and Rule 13d-5 under
the Exchange Act, except that in calculating the beneficial ownership of any particular “person”
(as that term is used in Section 13(d)(3) of the Exchange Act), such “person” will be deemed to
have beneficial ownership of all securities that such “person” has the right to acquire by
conversion or exercise of other securities, whether such right is currently exercisable or is
exercisable only after the passage of time. The terms “Beneficially Owns” and “Beneficially Owned”
have a corresponding meaning.

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     “Board of Directors” means:

          (1) with respect to a corporation, the board of directors of the corporation or any
committee thereof duly authorized to act on behalf of such board;

          (2) with respect to a partnership, the Board of Directors of the general partner of the
partnership;

          (3) with respect to a limited liability company, the managing member or members or any
controlling committee of managing members thereof; and

          (4) with respect to any other Person, the board or committee of such Person serving a
similar function.

     “Broker-Dealer” has the meaning set forth in the Registration Rights Agreement.

     “Business Day” means any day other than a Legal Holiday.

     “Capital Lease Obligation” means an obligation that is required to be classified and accounted
for as a capital lease for financial reporting purposes in compliance with U.S. GAAP, and the
amount of Indebtedness represented by the obligation shall be the capitalized amount of the
obligation determined in compliance with U.S. GAAP; and the Stated Maturity of the obligation shall
be the date of the last payment of rent or any other amount due under the lease prior to the first
date upon which the lease may be terminated by the lessee without payment of a penalty.

     “Capital Stock” means:

          (1) in the case of a corporation, corporate stock;

          (2) in the case of an association or business entity, any and all shares, interests,
participations, rights or other equivalents (however designated) of corporate stock;

          (3) in the case of a partnership or limited liability company, partnership interests
(whether general or limited) or membership interests; and

          (4) any other interest or participation that confers on a Person the right to receive a
share of the profits and losses of, or distributions of assets of, the issuing Person, but
excluding from all of the foregoing any debt securities convertible into Capital Stock,
whether or not such debt securities include any right of participation with Capital Stock.

     “Change of Control” means the occurrence of any of the following:

          (1) the direct or indirect sale, lease, transfer, conveyance or other disposition
(other than by way of merger or consolidation), in one or a series of related transactions,
of all or substantially all of the properties or assets of the Company and its Subsidiaries
taken as a whole to any “person” (as that term is used in Section 13(d) of the Exchange Act)
other than to one or more Permitted Holders or any Related Person of any Permitted Holder;

          (2) the adoption of a plan relating to the liquidation or dissolution of the Company;

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          (3) the consummation of any transaction (including, without limitation, any merger or
consolidation), the result of which is that any “person” (as defined above), other than the
Permitted Holders and their respective Related Parties, becomes the Beneficial Owner,
directly or indirectly, of more than 50% of the Voting Stock of the Company, measured by
voting power rather than number of shares; or

          (4) the Company consolidates with, or merges with or into, any Person, other than the
Permitted Holders and their respective Related Parties, or any Person other than the
Permitted Holders and their respective Related Parties, consolidates with, or merges with or
into, the Company, in any such event pursuant to a transaction in which any of the
outstanding Voting Stock of the Company or such other Person is converted into or exchanged
for cash, securities or other property, other than any such transaction where the Voting
Stock of the Company outstanding immediately prior to such transaction is converted into or
exchanged for Voting Stock (other than Disqualified Stock) of the surviving or transferee
Person constituting a majority of the outstanding shares of such Voting Stock of such
surviving or transferee Person (immediately after giving effect to such issuance).

Notwithstanding the foregoing, any sale, lease, transfer, conveyance, merger, liquidation, or
dissolution involving any of the assets or capital stock of any Permitted Holder shall not be
considered a “Change of Control.”

     “Clearstream” means Clearstream Banking, S.A.

     “Company” means STATS ChipPAC Ltd., and any and all successors thereto.

     “Consolidated Coverage Ratio” as of any date of determination means the ratio of (a) the
aggregate amount of EBITDA for the period of the most recent four consecutive fiscal quarters for
which internal financial statements are available ending on or prior to the date of determination
to (b) Consolidated Interest Expense for the four fiscal quarters; provided, however, that:

          (1) if the Company or any Restricted Subsidiary has Incurred any Indebtedness since the
beginning of the period that remains outstanding or if the transaction giving rise to the
need to calculate the Consolidated Coverage Ratio is an Incurrence of Indebtedness, or both,
EBITDA and Consolidated Interest Expense for the period shall be calculated after giving
effect on a pro forma basis to the Indebtedness as if the Indebtedness had been Incurred on
the first day of the period (except that in making such computation, the amount of
Indebtedness under any revolving credit facility outstanding on the date of such calculation
will be deemed to be (i) the average daily balance of such Indebtedness during such four
fiscal quarters or such shorter period for which such facility was outstanding or (ii) if
such facility was created after the end of such four fiscal quarters, the average daily
balance of such Indebtedness during the period from the date of creation of such facility to
the date of such calculation) and the discharge of any other Indebtedness repaid,
repurchased, defeased or otherwise discharged with the proceeds of the new Indebtedness as
if the discharge had occurred on the first day of the period;

          (2) if the Company or any Restricted Subsidiary has repaid, repurchased, defeased or
otherwise discharged any Indebtedness since the beginning of the period or if any
Indebtedness is to be repaid, repurchased, defeased or otherwise discharged (in each case
other than Indebtedness Incurred under any revolving credit facility unless the Indebtedness
has been permanently repaid and has not been replaced) on the date of the transaction giving
rise to the need to calculate the Consolidated Coverage Ratio, EBITDA and Consolidated
Interest Expense for the period shall be calculated on a pro forma basis as if the discharge
had occurred on the first day of the period and

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as if the Company or the Restricted Subsidiary has not earned the interest income
actually earned during the period relating to cash or Temporary Cash Investments used to
repay, repurchase, defease or otherwise discharge the Indebtedness;

          (3) if since the beginning of the period the Company or any Restricted Subsidiary shall
have made any Asset Sale or if the transaction giving rise to the need to calculate the
Consolidated Coverage Ratio is such an Asset Sale, the EBITDA for the period shall be
reduced by an amount equal to the EBITDA, if positive, directly attributable to the assets
which are the subject of the Asset Sale for the period, or increased by an amount equal to
the EBITDA, if negative, directly attributable for the period and Consolidated Interest
Expense for the period shall be reduced by an amount equal to the Consolidated Interest
Expense directly attributable to any Indebtedness of the Company or any Restricted
Subsidiary repaid, repurchased, defeased or otherwise discharged relating to the Company and
its continuing Restricted Subsidiaries in connection with the Asset Sale for the period (or,
if the Capital Stock of any Restricted Subsidiary is sold, the Consolidated Interest Expense
for the period directly attributable to the Indebtedness of the Restricted Subsidiary to the
extent the Company and its continuing Restricted Subsidiaries are no longer liable for the
Indebtedness after the sale);

          (4) if since the beginning of the period the Company or any Restricted Subsidiary, by
merger or otherwise, shall have made an Investment in any Restricted Subsidiary, or any
Person which becomes a Restricted Subsidiary, or an acquisition of assets, including any
acquisition of assets occurring in connection with a transaction requiring a calculation to
be made hereunder, which constitutes all or substantially all of an operating unit of a
business, EBITDA and Consolidated Interest Expense for the period shall be calculated after
giving their pro forma effect, including the Incurrence of any Indebtedness, as if the
Investment or acquisition occurred on the first day of the period; and

          (5) if since the beginning of the period any Person, that subsequently became a
Restricted Subsidiary or was merged with or into the Company or any Restricted Subsidiary
since the beginning of the period, shall have made any Asset Sale, any Investment or
acquisition of assets that would have required an adjustment under clause (3) or (4) above
if made by the Company or a Restricted Subsidiary during the period, EBITDA and Consolidated
Interest Expense for the period shall be calculated after giving their pro forma effect as
if the Asset Sale, Investment or acquisition occurred on the first day of the period.

For purposes of this definition, whenever pro forma effect is to be given to an acquisition or
disposition of assets, the amount of income or earnings relating to the acquisition or disposition
and the amount of Consolidated Interest Expense associated with any Indebtedness Incurred in
connection with, the acquisition or disposition, the pro forma calculations shall be determined in
good faith by a responsible financial or accounting officer of the Company and shall include any
applicable Pro Forma Cost Savings. If any Indebtedness bears a floating rate of interest and is
being given pro forma effect, the interest of the Indebtedness shall be calculated as if the rate
in effect on the date of determination had been the applicable rate for the entire period, taking
into account any Interest Rate Agreement applicable to the Indebtedness if the Interest Rate
Agreement has a remaining term in excess of 12 months.

     “Consolidated Interest Expense” means, for any period, the Company’s total interest expense
and that of its consolidated Restricted Subsidiaries determined in compliance with U.S. GAAP, plus,
to the extent not included in total interest expense, and to the extent incurred by the Company or
its Restricted Subsidiaries, without duplication:

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          (1) interest expense attributable to Capital Lease Obligations and the interest expense
attributable to leases constituting part of a Sale/Leaseback Transaction, in each case,
determined in compliance with U.S. GAAP;

          (2) amortization of debt discount and debt issuance cost;

          (3) capitalized interest;

          (4) non-cash interest expenses;

          (5) commissions, discounts and other fees and charges owed relating to letters of
credit and bankers’ acceptance financing;

          (6) net costs associated with Hedging Obligations involving any Interest Rate
Agreement, including amortization of fees, determined compliance U.S. GAAP;

          (7) dividends paid in cash or Disqualified Stock relating to (A) all Preferred Stock of
Restricted Subsidiaries and (B) all of the Company’s Disqualified Stock, in each case, held
by Persons other than the Company or a Wholly Owned Subsidiary;

          (8) interest actually paid by the Company or a Restricted Subsidiary under any
Guarantee of Indebtedness of any other Person; and

          (9) the cash contributions to any employee stock ownership plan or similar trust to the
extent the contributions are used by the plan or trust to pay interest or fees to any Person
other than the Company in connection with Indebtedness Incurred by the plan or trust;

and less, to the extent included in total interest expense, the amortization during the period of
capitalized financing costs associated with the issuance of the Notes and the related repayment of
the 12.75% senior subordinated notes due 2009 of ChipPAC International Company Limited, and the
amortization during the period of other capitalized financing costs.

     “Consolidated Net Income” means, for any period, the net income of the Company and its
consolidated Subsidiaries determined in compliance with U.S. GAAP; provided, however, that there
shall not be included in the Consolidated Net Income:

          (1) any net income of any Person other than the Company if the Person is not a
Restricted Subsidiary, except that (A) limited by the exclusion contained in clause (4)
below, the Company’s equity in the net income of the Person for the period shall be included
in Consolidated Net Income up to the aggregate amount of cash actually distributed by the
Person during the period to the Company or a Restricted Subsidiary as a dividend or other
distribution subject, in the case of a dividend or other distribution paid to a Restricted
Subsidiary, to the limitations contained in clause (3) below and (B) the Company’s equity in
a net loss of the Person for the period shall be included in determining the Consolidated
Net Income;

          (2) any net income or loss of any Person acquired by the Company or any of its
Subsidiaries in a pooling of interests transaction for any period prior to the date of the
acquisition;

          (3) any net income or loss of any Restricted Subsidiary if the Restricted Subsidiary is
restricted, directly or indirectly, in its ability to pay dividends or make distributions,
directly or indirectly, to the Company, except that (A) limited by the exclusion contained
in clause (4)

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below, the Company’s equity in the net income of the Restricted Subsidiary for the
period shall be included in Consolidated Net Income up to the aggregate amount of cash that
could have been distributed by the Restricted Subsidiary consistent with these restrictions
during the period to the Company or another Restricted Subsidiary as a dividend or other
distribution subject, in the case of a dividend or other distribution paid to another
Restricted Subsidiary, to the limitation contained in this clause, and (B) the Company’s
equity in a net loss of any the Restricted Subsidiary for the period shall be included in
determining Consolidated Net Income;

          (4) any gain or loss realized upon the sale or other disposition of any of assets of
the Company or those of its consolidated Subsidiaries, including under any
sale-and-leaseback arrangement, which is not sold or otherwise disposed of in the ordinary
course of business and any gain or loss realized upon the sale or other disposition of any
Capital Stock of any Person;

          (5) any extraordinary or unusual gains or losses and the related tax effect in
compliance with U.S. GAAP;

          (6) any translation gains and losses due solely to fluctuations in currency values and
the related tax effect in compliance with U.S. GAAP; or

          (7) the cumulative effect of a change in accounting principles.

Notwithstanding the provisions, for the purposes of Section 4.07 hereof only, there shall be
excluded from Consolidated Net Income any dividends, repayments of loans or advances or other
transfers of assets from Unrestricted Subsidiaries to the Company or a Restricted Subsidiary to the
extent the dividends, repayments or transfers increase the amount of Restricted Payments permitted
under clause (a)(3)(D) of Section 4.07 hereof.

     “Corporate Trust Office of the Trustee” will be at the address of the Trustee specified in
Section 11.02 hereof or such other address as to which the Trustee may give notice to the Company.

     “Credit Facilities” means, one or more debt facilities (including, without limitation, the
Multi-Currency Specific Advance Facility) or commercial paper facilities, in each case, with banks
or other institutional lenders providing for revolving credit loans, term loans, receivables
financing (including through the sale of receivables to such lenders or to special purpose entities
formed to borrow from such lenders against such receivables) or letters of credit, in each case, as
amended, restated, modified, renewed, refunded, replaced (whether upon or after termination or
otherwise) or refinanced (including by means of sales of debt securities to institutional
investors) in whole or in part from time to time.

     “Currency Agreement” of a Person means any foreign exchange contract, currency swap agreement
or other similar agreement to which the Person is a party or beneficiary.

     “Custodian” means the Trustee, as custodian with respect to the Notes in global form, or any
successor entity thereto.

     “Default” means any event that is, or with the passage of time or the giving of notice or both
would be, an Event of Default.

     “Definitive Note” means a certificated Note registered in the name of the Holder thereof and
issued in accordance with Section 2.06 hereof, substantially in the form of Exhibit A hereto except
that such Note shall not bear the Global Note Legend and shall not have the “Schedule of Exchanges
of Interests in the Global Note” attached thereto.

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     “Depositary” means, with respect to the Notes issuable or issued in whole or in part in global
form, the Person specified in Section 2.03 hereof as the Depositary with respect to the Notes, and
any and all successors thereto appointed as depositary hereunder and having become such pursuant to
the applicable provision of this Indenture.

     “Disqualified Stock” means any Capital Stock that, by its terms (or by the terms of any
security into which it is convertible, or for which it is exchangeable, in each case, at the option
of the holder of the Capital Stock), or upon the happening of any event, matures or is mandatorily
redeemable, pursuant to a sinking fund obligation or otherwise, or redeemable at the option of the
holder of the Capital Stock, in whole or in part, on or prior to the date that is 91 days after the
date on which the Notes mature. Notwithstanding the preceding sentence, any Capital Stock that
would constitute Disqualified Stock solely because the holders of the Capital Stock have the right
to require the Company to repurchase such Capital Stock upon the occurrence of a change of control
or an asset sale will not constitute Disqualified Stock if the terms of such Capital Stock provide
that the Company may not repurchase or redeem any such Capital Stock pursuant to such provisions
unless such repurchase or redemption complies with Section 4.07 hereof. The amount of Disqualified
Stock deemed to be outstanding at any time for purposes of this Indenture will be the maximum
amount that the Company and its Restricted Subsidiaries may become obligated to pay upon the
maturity of, or pursuant to any mandatory redemption provisions of, such Disqualified Stock,
exclusive of accrued dividends.

     “EBITDA” for any period means the sum of Consolidated Net Income, plus Consolidated Interest
Expense plus the following in the amount deducted in calculating Consolidated Net Income, without
duplication:

          (1) all income tax expense the Company and its consolidated Restricted Subsidiaries;

          (2) depreciation expense of the Company and its consolidated Restricted Subsidiaries;

          (3) amortization expense or non-cash impairment charges recorded in connection with the
application of Financial Accounting Standards No. 142 “Goodwill and Other Intangibles” of
the Company and its consolidated Restricted Subsidiaries, excluding amortization expense
other than the amortization of capitalized financing costs, attributable to a prepaid cash
item that was paid in a prior period;

          (4) all non-cash stock-based compensation charges of the Company and its consolidated
Restricted Subsidiaries;

          (5) all other non-cash charges of the Company and its consolidated Restricted
Subsidiaries, excluding any non-cash charge to the extent it represents an accrual of or
reserve for cash expenditures in any future period; and

          (6) all fees and expenses paid or required to be paid by the Company and its
consolidated Restricted Subsidiaries arising from the transactions contemplated thereby

in each case for the period. Notwithstanding these provisions, the provision for taxes based on the
income or profits of, and the depreciation and amortization and non-cash charges of, a Restricted
Subsidiary shall be added to Consolidated Net Income to compute EBITDA only in an amount that and
in the same proportion that the net income of the Restricted Subsidiary was included in calculating
Consolidated Net Income and only if a corresponding amount would be permitted at the date of
determination to be dividend to the Company by the Restricted Subsidiary without prior approval
that has not been obtained, under the terms of its charter and all agreements, instruments,
judgments, decrees, orders, statutes, rules

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and governmental regulations applicable to the Restricted Subsidiary or its stockholders.

     “Equity Interests” means Capital Stock and all warrants, options or other rights to acquire
Capital Stock (but excluding any debt security that is convertible into, or exchangeable for,
Capital Stock).

     “Euroclear” means Euroclear Bank, S.A./N.V., as operator of the Euroclear system.

     “Exchange Act” means the U.S. Securities Exchange Act of 1934, as amended.

     “Exchange Notes” means the Notes issued in the Exchange Offer pursuant to Section 2.06(f)
hereof.

     “Exchange Offer” has the meaning set forth in the Registration Rights Agreement.

     “Exchange Offer Registration Statement” has the meaning set forth in the Registration Rights
Agreement.

     “Fair Market Value” means the value that would be paid by a willing buyer to an unaffiliated
willing seller in a transaction not involving distress or necessity of either party, determined in
good faith by the Board of Directors of the Company (unless otherwise provided in this Indenture).

     “Global Note Legend” means the legend set forth in Section 2.06(g)(2) hereof, which is
required to be placed on all Global Notes issued under this Indenture.

     “Global Notes” means, individually and collectively, each of the Restricted Global Notes and
the Unrestricted Global Notes deposited with or on behalf of and registered in the name of the
Depository or its nominee, substantially in the form of Exhibit A hereto and that bears the Global
Note Legend and that has the “Schedule of Exchanges of Interests in the Global Note” attached
thereto, issued in accordance with Section 2.01, 2.06(b)(3), 2.06(b)(4), 2.06(d)(2) or 2.06(f)
hereof.

     “Government Securities” means securities that are direct obligations, or certificates
representing an ownership interest in the obligations, of the United States of America, including
any Person controlled or supervised by and acting as an agency or instrumentality of the United
States, for the payment of which the full faith and credit of the United States of America is
pledged and which are not callable at the issuer’s option.

     “Guarantee” means a guarantee other than by endorsement of negotiable instruments for
collection in the ordinary course of business, direct or indirect, in any manner including, without
limitation, by way of a pledge of assets or through letters of credit or reimbursement agreements
in respect thereof, of all or any part of any Indebtedness (whether arising by virtue of
partnership arrangements, or by agreements to keep-well, to purchase assets, goods, securities or
services, to take or pay or to maintain financial statement conditions or otherwise).

     “Guarantors” means each of:

          (1) STATS ChipPAC, Inc., a Delaware corporation, STATS ChipPAC Test Services, Inc., a
Delaware corporation, STATS Holdings Limited, a company organized under the laws of the
British Virgin Islands, ChipPAC, Inc., a Delaware corporation, ChipPAC International Company
Limited, a company organized under the laws of the British Virgin Islands, ChipPAC Liquidity
Management Hungary Limited Liability Company, a limited liability company organized under
the laws of Hungary, ChipPAC Luxembourg S.a.R.L., a company organized

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under the laws of Luxembourg, STATS ChipPAC (Barbados) Ltd., a company organized under
the laws of Barbados, STATS ChipPAC (BVI) Limited, a company organized under the laws of the
British Virgin Islands and STATS ChipPAC Malaysia; and

          (2) any other Subsidiary of the Company that executes a Note Guarantee in accordance
with the provisions of this Indenture,

and their respective successors and assigns, in each case, until the Note Guarantee of such Person
has been released in accordance with the provisions of this Indenture and the Subsidiary Guarantee
Agreement.

     “Hedging Obligations” of any Person means the obligations of the Person under any Interest
Rate Agreement or Currency Agreement.

     “Holder” means a Person in whose name a Note is registered.

     “Incur” means issue, assume, Guarantee, incur or otherwise become liable for; provided,
however, that any Indebtedness or Capital Stock of a Person existing at the time the Person becomes
a Subsidiary (whether by merger, consolidation, acquisition or otherwise) will be considered to be
Incurred by the Subsidiary at the time it becomes a Subsidiary. The term “Incurrence” when used as
a noun shall have a correlative meaning. The accretion of principal of a non-interest bearing or
other discount security, and the issuance as interest or dividend payments of pay-in-kind
securities having identical terms to the underlying security and which pay-in-kind securities were
contemplated on the issue date of the underlying security, in each case shall not be deemed the
Incurrence of Indebtedness.

     “Indebtedness” of any Person on any date of determination means, without duplication:

          (1) the principal of and premium, if any, of (A) indebtedness of the Person for money
borrowed and (B) indebtedness evidenced by notes, debentures, bonds or other similar
instruments for the payment of which the Person is responsible or liable;

          (2) all Capital Lease Obligations of the Person and all Attributable Debt of
Sale/Leaseback Transactions entered into by the Person;

          (3) all obligations of the Person issued or assumed as the deferred purchase price of
property, all conditional sale obligations of the Person and all obligations of the Person
under any title retention agreement, but excluding trade accounts and accrued expenses
payable arising in the ordinary course of business;

          (4) all obligations of the Person for the reimbursement of any obligor on any letter of
credit, banker’s acceptance or similar credit transaction, other than obligations under
letters of credit securing obligations, other than obligations described in clauses (1)
through (3) above, entered into in the ordinary course of business of the Person to the
extent the letters of credit are not drawn upon or, if and to the extent drawn upon, the
drawing is reimbursed no later than the tenth business day following payment on the letter
of credit;

          (5) the amount of all obligations of the Person relating to the redemption, repayment
or other repurchase of any Disqualified Stock or, relating to any Subsidiary of the Person,
the liquidation preference relating to, any Preferred Stock, but excluding, in each case,
any accrued dividends;

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          (6) all obligations of the type referred to in clauses (1) through (5) of other Persons
and all dividends of other Persons for the payment of which, in either case, the Person is
responsible or liable, directly or indirectly, as obligor, guarantor or otherwise, including
by means of any Guarantee;

          (7) all obligations of the type referred to in clauses (1) through (6) of other Persons
secured by any Lien on any property or asset of the Person, whether or not the obligation is
assumed by the Person, the amount of the obligation being deemed to be the lesser of the
value of the property or assets or the amount of the obligation so secured; and

          (8) to the extent not otherwise included in this definition, Hedging Obligations of the
Person.

The amount of Indebtedness of any Person at any date shall be the outstanding balance at the date
of all unconditional obligations as described above and the maximum liability, upon the occurrence
of the contingency giving rise to the obligation, of any contingent obligations at the date;
provided, however, that the amount outstanding at any time of any Indebtedness issued with original
issue discount will be considered to be the face amount of the Indebtedness less the remaining
unamortized portion of the original issue discount of the Indebtedness at the time as determined in
compliance with U.S. GAAP.

     “Indenture” means this Indenture, as amended or supplemented from time to time.

     “Indirect Participant” means a Person who holds a beneficial interest in a Global Note through
a Participant.

     “Initial Notes” means the first US$150 million aggregate principal amount of Notes issued
under this Indenture on the date hereof.

     “Initial Purchasers” means Deutsche Bank AG, Singapore Branch, Credit Suisse First Boston
(Singapore) and Banc of America Securities LLC.

     “Interest Rate Agreement” of a Person means any interest rate swap agreement, interest rate
cap agreement or other financial agreement or arrangement designed to protect the Person against
fluctuations in interest rates.

     “Institutional Accredited Investor” means an institution that is an “accredited investor” as
defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act, who are not also QIBs.

     “Investments” by any Person means all investments by the Person in other Persons in the forms
of any direct or indirect advance, loan other than (a) advances to customers in the ordinary course
of business that are recorded as accounts receivable on the balance sheet of the lender and (b)
commission, travel and similar advances to officers and employees made in the ordinary course of
business, or other extensions of credit, including by way of Guarantee or similar arrangement, or
capital contribution to, by means of any transfer of cash or other property to others or any
payment for property or services for the account or use of others, or any purchase or acquisition
of Capital Stock, Indebtedness or other similar instruments issued by the other Person. For
purposes of the definition of “Unrestricted Subsidiary,” the definition of “Restricted Payment” and
Section 4.07 hereof:

          (1) “Investment” shall include the portion, proportionate to the Company’s equity
interest in the Subsidiary, of the Fair Market Value of the net assets of any Subsidiary of
the Company at the time that the Subsidiary is designated an Unrestricted Subsidiary;
provided, however, that

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upon a redesignation of the Subsidiary as a Restricted Subsidiary, the Company will be
considered to continue to have a permanent “Investment” in an Unrestricted Subsidiary equal
to an amount, if positive, equal to (x) the Company’s “Investment” in the Subsidiary at the
time of the redesignation less (y) the portion, proportionate to the Company’s equity
interest in the Subsidiary, of the Fair Market Value of the net assets of the Subsidiary at
the time of the redesignation; and

          (2) any property transferred to or from an Unrestricted Subsidiary shall be valued at
its Fair Market Value at the time of the transfer.

     “Issue Date” means the date hereof.

     “Legal Holiday” means a Saturday, a Sunday or a day on which banking institutions in the City
of New York or at a place of payment are authorized by law, regulation or executive order to remain
closed. If a payment date is a Legal Holiday at a place of payment, payment may be made at that
place on the next succeeding day that is not a Legal Holiday, and no interest shall accrue on such
payment for the intervening period.

     “Letter of Transmittal” means the letter of transmittal to be prepared by the Company and sent
to all Holders of the Notes for use by such Holders in connection with the Exchange Offer.

     “Lien” means, with respect to any asset, any mortgage, lien, pledge, charge, security interest
or encumbrance of any kind in respect of such asset, whether or not filed, recorded or otherwise
perfected under applicable law, including any conditional sale or other title retention agreement,
any lease in the nature thereof, any option or other agreement to sell or give a security interest
in and any filing of or agreement to give any financing statement under the Uniform Commercial Code
(or equivalent statutes) of any jurisdiction.

     “Liquidated Damages” means all liquidated damages then owing pursuant to the Registration
Rights Agreement.

     “Moody’s” means Moody’s Investors Service, Inc.

     “Multi-Currency Specific Advance Facility” means that certain Multi-Currency Specific Advance
Facility by and between the Company and the Oversea-Chinese Banking Corporation Limited pursuant to
the letter agreements dated September 29, 2004 and July 11, 2003, providing for up to $50.0 million
of credit borrowings, as amended, notated, modified, renewed, refunded, replaced (whether upon
termination or otherwise) or refinanced (including by means of sales of debt securities to
institutional investors) in whole or in part from time to time.

     “Net Cash Proceeds” relating to any issuance or sale of Capital Stock, means the cash proceeds
of the issuance or sale net of attorneys’ fees, accountants’ fees, underwriters’ or placement
agents’ fees, discounts or commissions and brokerage, consultant and other fees actually incurred
in connection with the issuance or sale and net of taxes paid or payable as a result the issuance
or sale and any reserve for adjustment in the sale price of the asset or assets established in
compliance with U.S. GAAP.

     “Net Proceeds” means the aggregate cash proceeds received by the Company or any of the
Restricted Subsidiaries in respect of any Asset Sale (including, without limitation, any cash
received upon the sale or other disposition of any non-cash consideration received in any Asset
Sale), net of the direct costs relating to such Asset Sale, including, without limitation, legal,
accounting and investment banking fees, and sales commissions, and any relocation expenses incurred
as a result of the Asset Sale, taxes paid

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or payable as a result of the Asset Sale, in each case, after taking into account any
available tax credits or deductions and any tax sharing arrangements, and amounts required to be
applied to the repayment of Indebtedness, other than Specified Senior Indebtedness, secured by a
Lien on the asset or assets that were the subject of such Asset Sale, and any reserve for
adjustment in respect of the sale price of such asset or assets established in accordance with U.S.
GAAP against any liabilities associated with the transaction and retained by the Company or any of
its Restricted Subsidiaries after such sale or other disposition thereof, including, without
limitation, pension and other post-employment benefit liabilities and liabilities related to
environmental matters or against any indemnification obligations associated with such transaction.

     “Non-U.S. Person” means a Person who is not a U.S. Person.

     “Note Guarantee” means the Guarantee by each Guarantor of the Company’s obligations under this
Indenture and the Notes, executed pursuant to the provisions of this Indenture or the Subsidiary
Guarantee Agreement.

     “Notes” has the meaning assigned to it in the preamble to this Indenture. The Initial Notes
and the Additional Notes shall be treated as a single class for all purposes under this Indenture,
and unless the context otherwise requires, all references to the Notes shall include the Initial
Notes and any Additional Notes.

     “Obligations” means any principal, interest, penalties, fees, indemnifications,
reimbursements, damages and other liabilities payable under the documentation governing any
Indebtedness.

     “Officer” means, with respect to any Person, the Chairman of the Board, the Chief Executive
Officer, the President, the Chief Operating Officer, the Chief Financial Officer, the Treasurer,
any Assistant Treasurer, the Controller, the Secretary or any Vice-President of such Person.

     “Officers’ Certificate” means a certificate signed on behalf of the Company by two Officers of
the Company, one of whom must be the principal executive officer, the principal financial officer,
the treasurer or the principal accounting officer of the Company, that meets the requirements of
Section 11.05 hereof.

     “Opinion of Counsel” means an opinion from legal counsel who is reasonably acceptable to the
Trustee, that meets the requirements of Section 11.05 hereof. The counsel may be an employee of or
counsel to the Company, any Subsidiary of the Company or the Trustee.

     “Participant” means, with respect to the Depositary, Euroclear or Clearstream, a Person who
has an account with the Depositary, Euroclear or Clearstream, respectively (and, with respect to
DTC, shall include Euroclear and Clearstream).

     “Permitted Holder” means each of Temasek Holdings (Private) Limited, Singapore Technologies
Holdings Pte Ltd., Singapore Technologies Pte Ltd. and Singapore Technologies Semiconductors Pte
Ltd. and their respective successors and assigns.

     “Permitted Investments” means an Investment by the Company or any Restricted Subsidiary in:

          (1) a Restricted Subsidiary that is a Guarantor or a Person that will, upon the making
of the Investment, become a Restricted Subsidiary that is a Guarantor; provided, however,
that the primary business of such Restricted Subsidiary is a Related Business;

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          (2) another Person if as a result of the Investment the other Person is merged or
consolidated with or into, or transfers or conveys all or substantially all its assets to,
the Company or a Restricted Subsidiary that is a Guarantor; provided, however, that such
Person’s primary business is a Related Business;

          (3) Temporary Cash Investments;

          (4) receivables owing to the Company or any Restricted Subsidiary if created or
acquired in the ordinary course of business and payable or dischargeable on customary trade
terms; provided, however, that the trade terms may include the concessionaire trade terms as
the Company or the Restricted Subsidiary deems reasonable under the circumstances;

          (5) Investments in existence on the Issue Date;

          (6) payroll, travel and similar advances to cover matters that are expected at the time
of the advances ultimately to be treated as expenses for accounting purposes and that are
made in the ordinary course of business;

          (7) loans or advances to employees, directors, officers or consultants made in the
ordinary course of the Company’s business or that of the Restricted Subsidiary;

          (8) any Person to the extent that such Person is a supplier (or an Affiliate thereof)
to the Company or any of its Restricted Subsidiaries and as a result of such Investment, the
Company or such Restricted Subsidiary receives improved technology or materially improved
pricing, timing of delivery or availability with respect to the products or services
provided by such supplier; provided that such Investment is made in the ordinary course of
business and consistent in scale and scope with past practice of the Company or the
applicable Restricted Subsidiary;

          (9) stock, obligations or securities received in settlement of debts created in the
ordinary course of business and owing to the Company or any Restricted Subsidiary or in
satisfaction of judgments;

          (10) any Person to the extent the Investment represents the non-cash portion of the
consideration received for an Asset Sale that was made pursuant to and in compliance with
Section 4.10 hereof;

          (11) Currency Agreements and Interest Rate Agreements entered into in the ordinary
course of business and otherwise in compliance with this Indenture;

          (12) so long as no Default shall have occurred and be continuing or results from the
Investment, any Person in an aggregate amount which, when added together with the amount of
all the Investments made under this clause (12) which at the time of the Investment have not
been repaid through repayments of loans or advances or other transfers of assets, does not
exceed the greater of (A) $60.0 million and (B) 5.0% of Total Assets, with the Fair Market
Value of each Investment being measured at the time made and without giving effect to
subsequent changes in value;

          (13) a Restricted Subsidiary that is not Guarantor, that is organized under the laws of
the Peoples Republic of China and that is primarily engaged in a Related Business, which
Investment is solely for the purpose of allowing such Restricted Subsidiary, under the laws
of the Peoples Republic of China, to (x) make capital expenditures or (y) acquire other
assets that are not

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classified as current assets under U.S. GAAP and that are used or useful in such
Related Business, in each case, so long as that for every $1.00 invested in such Restricted
Subsidiary at least $3.00 are expended to (A) make a capital expenditure or (B) acquire
other assets that are not classified as current assets under U.S. GAAP and that are useful
in such Related Business, but in any event not to exceed $35.0 million in Investments under
this clause (13) in the aggregate in any twelve-month period;

          (14) Investments the payment for which consists of Equity Interests of the Company
(other than Disqualified Stock);

          (15) Guarantees of Indebtedness permitted under Section 4.09 hereof and performance
guarantees consistent with past practice;

          (16) any Investment acquired by the Company or any of its Restricted Subsidiaries (A)
in exchange for any other Investment or accounts receivables held by the Company or any such
Restricted Subsidiary in connection with or as a result of a bankruptcy, workout,
reorganization or recapitalization of the issuer of such other Investment or accounts
receivable or (B) as a result of a foreclosure by the Company or any of its Restricted
Subsidiaries with respect to any secured Investment or other transfer of title with respect
to any secured investment in default;

          (17) Investments consisting of licensing or contribution of intellectual property
pursuant to joint marketing arrangements with other Persons entered into in the ordinary
course of business and consistent in scale and scope with past practice; and

          (18) Simmtech Co. Ltd. pursuant to contractual relationships in effect on the Issue
Date.

“Permitted Liens” means:

          (1) Liens on assets of the Company or any Guarantor securing Indebtedness and other
Obligations under Credit Facilities that was permitted by the terms of this Indenture to be
incurred and/or securing Hedging Obligations related thereto;

          (2) Liens in favor of the Company or any Guarantor;

          (3) Liens on property of a Person existing at the time such Person is merged with or
into or consolidated with the Company or any Subsidiary of the Company; provided that such
Liens were in existence prior to the contemplation of such merger or consolidation and do
not extend to any assets other than those of the Person merged into or consolidated with the
Company or the Subsidiary;

          (4) Liens on property (including Capital Stock) existing at the time of acquisition of
the property by the Company or any Subsidiary of the Company; provided that such Liens were
in existence prior to, such acquisition, and not incurred in contemplation of, such
acquisition;

          (5) Liens (or deposits of cash or government bonds) in favor of issuers of performance,
surety bid, indemnity, warranty, release, appeal or similar bonds to secure such bonds or
with respect to other regulatory requirements or letters of credit or bankers’ acceptances
issued, and completion guarantees provided for, in each case, incurred in the ordinary
course of business and consistent with past practice;

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          (6) Liens to secure Indebtedness (including Capital Lease Obligations) permitted by
clause (b)(14) of Section 4.09 hereof covering only the assets acquired with or financed by
such Indebtedness;

          (7) Liens existing on the Issue Date;

          (8) Liens for taxes, assessments or governmental charges or claims that are not yet
delinquent or that are being contested in good faith by appropriate proceedings promptly
instituted and diligently concluded or for property taxes on property that the Company or
one of its Subsidiaries has determined to abandon if the sole recourse for such tax,
assessment, charge, levy or claim is to such property; provided that any reserve or other
appropriate provision as is required in conformity with U.S. GAAP has been made therefor;

          (9) Liens imposed by law, such as carriers’, warehousemen’s, landlord’s and mechanics’
Liens, in each case, incurred in the ordinary course of business;

          (10) survey exceptions, easements or reservations of, or rights of others for,
licenses, rights-of-way, sewers, electric lines, telegraph and telephone lines and other
similar purposes, or zoning or other restrictions as to the use of real property that were
not incurred in connection with Indebtedness and that do not in the aggregate materially
adversely affect the value of said properties or materially impair their use in the
operation of the business of such Person;

          (11) Liens created for the benefit of (or to secure) the Notes (or the Note
Guarantees);

          (12) Liens to secure any Refinancing Indebtedness permitted to be incurred under this
Indenture; provided, however, that:

               (a) the new Lien shall be limited to all or part of the same property and assets that
secured or, under the written agreements pursuant to which the original Lien arose, could
secure the original Lien (plus improvements and accessions to, such property or proceeds or
distributions thereof); and

               (b) the Indebtedness secured by the new Lien is not increased to any amount greater
than the sum of (x) the outstanding principal amount, or, if greater, committed amount, of
the Refinancing Indebtedness permitted hereunder and (y) an amount necessary to pay any fees
and expenses, including premiums, related to such renewal, refunding, refinancing,
replacement, defeasance or discharge;

          (13) attachment or judgment Liens in respect of judgments that do not constitute an
Event of Default so long as such Liens are adequately bonded and any appropriate legal
proceedings that may have been duly initiated in good faith for the review of such judgment
have not been finally terminated or the period within such proceedings may be initiated has
not expired;

          (14) pledges, deposits or security under workmen’s compensation, unemployment insurance
and other social security laws or regulations, or deposits to secure the performance of
tenders, contracts (other than for the payment of Indebtedness) or leases, or deposits to
secure public or statutory obligations, or deposits as security for import or customs duties
or for the payment of rent, or deposits or other security securing liabilities to insurance
carriers under insurance or self-insurance arrangements, in each case incurred in the
ordinary course of business and consistent with past practice;

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          (15) Liens in favor of the Trustee with respect to the Notes for its own benefit and
for the benefit of the Holders of the Notes;

          (16) pledges or deposits made in connection with acquisition agreements or letters of
intent entered into in respect of a proposed acquisition;

          (17) Liens upon specific items of inventory or other goods and proceeds of that Person
securing that Person’s obligations in respect of bankers’ acceptances issued or credited for
the account of that Person in the ordinary course of business to facilitate the purchase,
shipment or storage of that inventory or other goods;

          (18) Liens securing reimbursement obligations with respect to commercial letters of
credit issued for the account of that Person which encumber documents and other Property
relating to those commercial letters of credit and the products and proceeds thereof;

          (19) 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 by that Person;

          (20) banker’s Liens, rights of set-off or similar rights and remedies as to deposit
accounts or other funds maintained with a depositary institution; provided that (a) such
deposit account is not a dedicated cash collateral account and is not subject to
restrictions against access by the Company in excess of those set forth by regulations
promulgated by the Federal Reserve Board or other applicable law and (b) such deposit
account is not intended by the Company or any Restricted Subsidiary to provide collateral to
the depositary institution;

          (21) Liens arising from Uniform Commercial Code financing statement filings regarding
operating leases or consignments entered into by the Company and its Restricted Subsidiaries
in the ordinary course of business; and

          (22) Liens incurred in the ordinary course of business of the Company or any Subsidiary
of the Company with respect to obligations that do not exceed $15.0 million at any one time
outstanding.

     “Person” means any individual, corporation, partnership, joint venture, association,
joint-stock company, trust, unincorporated organization, limited liability company or government or
other entity.

     “Preferred Stock” as applied to the Capital Stock of any Person, means Capital Stock of any
class or classes however designated which is preferred as to the payment of dividends or
distributions, or as to the distribution of assets upon any voluntary or involuntary liquidation or
dissolution of the Person, over shares of Capital Stock of any other class of the Person.

     “Private Placement Legend” means the legend set forth in Section 2.06(g)(1) hereof to be
placed on all Notes issued under this Indenture except where otherwise permitted by the provisions
of this Indenture.

     “Pro Forma Cost Savings” during any period means the reduction in costs that were:

          (1) directly attributable to an asset acquisition and calculated on a basis that is
consistent with Regulation S-X under the Securities Act in effect and applied as of the
Issue Date, or

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          (2) implemented by the business that was the subject of the asset acquisition within
six months of the date of the asset acquisition and that are supportable and quantifiable by
the underlying accounting records of the business,

as if, in the case of each of clause (1) and (2), all the reductions in costs had been effected as
of the beginning of the period.

     “QIB” means a “qualified institutional buyer” as defined in Rule 144A.

     “Refinance” of any Indebtedness means to refinance, extend, renew, refund, repay, prepay,
redeem, defease or retire, or to issue other Indebtedness in exchange or replacement for, the
indebtedness. “Refinanced” and “Refinancing” shall have correlative meanings.

     “Refinancing Indebtedness” means Indebtedness that Refinances any Indebtedness of the Company
or any Restricted Subsidiary existing on the Issue Date or Incurred in compliance with this
Indenture, including Indebtedness that Refinances Refinancing Indebtedness; provided, however, that

          (1) the Refinancing Indebtedness has a Stated Maturity no earlier than the Stated
Maturity of the Indebtedness being Refinanced;

          (2) the Refinancing Indebtedness has an Average Life at the time the Refinancing
Indebtedness is Incurred that is equal to or greater than the Average Life of the
Indebtedness being Refinanced; and

          (3) the Refinancing Indebtedness has an aggregate principal amount, or if Incurred with
original issue discount, an aggregate issue price, that is equal to or less than the
aggregate principal amount, or if Incurred with original issue discount, the aggregate
accreted value, then outstanding or committed, plus fees and expenses, including any premium
and defeasance costs, under the Indebtedness being Refinanced;

provided, further, that Refinancing Indebtedness shall not include (x) Indebtedness of a Subsidiary
that Refinances Indebtedness of the Company or (y) Indebtedness of the Company or a Restricted
Subsidiary that Refinances Indebtedness of an Unrestricted Subsidiary.

     “Registration Rights Agreement” means the Registration Rights Agreement, dated as of the date
hereof, among the Company, the Guarantors and the other parties named on the signature pages
thereof, as such agreement may be amended, modified or supplemented from time to time and, with
respect to any Additional Notes, one or more registration rights agreements among the Company, the
Guarantors and the other parties thereto, as such agreement(s) may be amended, modified or
supplemented from time to time, relating to rights given by the Company to the purchasers of
Additional Notes to register such Additional Notes under the Securities Act.

     “Regulation S” means Regulation S promulgated under the Securities Act.

     “Regulation S Global Note” means a Global Note substantially in the form of Exhibit A hereto
bearing the Global Note Legend and the Private Placement Legend and deposited with or on behalf of
and registered in the name of the Depositary or its nominee, issued in a denomination equal to the
outstanding principal amount of the Notes sold in reliance on Rule 903 of Regulation S.

     “Related Business” means any business related, ancillary or complementary to the businesses of
the Company and those of its Restricted Subsidiaries on the Issue Date.

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     “Related Person” means: (1) any controlling stockholder or 80% (or more) owned Subsidiary of
any Permitted Holder or (2) any trust, corporation, partnership, limited liability company or other
entity, the beneficiaries, stockholders, partners, members, owners or Persons beneficially holding
an 80% or more controlling interest of which consists of any Permitted Holder and/or such other
Persons referred to in the immediately preceding clause (1).

     “Responsible Officer,” when used with respect to the Trustee, means any officer within the
Corporate Trust Administration of the Trustee (or any successor group of the Trustee) or any other
officer of the Trustee customarily performing functions similar to those performed by any of the
above designated officers and also means, with respect to a particular corporate trust matter, any
other officer to whom such matter is referred because of his knowledge of and familiarity with the
particular subject.

     “Restricted Definitive Note” means a Definitive Note bearing the Private Placement Legend.

     “Restricted Global Note” means a Global Note bearing the Private Placement Legend.

     “Restricted Investment” means an Investment other than a Permitted Investment.

     “Restricted Payment” of any Person means:

          (1) the declaration or payment of any dividends or any other distributions of any sort
relating to its Capital Stock, including any payment in connection with any merger or
consolidation involving the Person, or similar payment to the direct or indirect holders of
its Capital Stock in their capacity as such, other than (i) dividends or distributions
payable solely in its Capital Stock other than Disqualified Stock, (ii) dividends or
distributions payable solely to the Company or a Restricted Subsidiary, and (iii)pro rata
dividends or other distributions made by a Subsidiary that is not a Wholly Owned Subsidiary
to minority stockholders, majority stockholders or owners of an equivalent interest in the
case of a Subsidiary that is an entity other than a corporation;

          (2) the purchase, redemption or other acquisition or retirement for value of any
Capital Stock of the Company held by any Person or of any Capital Stock of a Restricted
Subsidiary held by any Affiliate of the Company other than a Restricted Subsidiary,
including the exercise of any option to exchange any Capital Stock, other than into Capital
Stock of the Company that is not Disqualified Stock;

          (3) the purchase, repurchase, redemption, defeasance or other acquisition or retirement
for value, prior to scheduled maturity, scheduled repayment or scheduled sinking fund
payment of any Subordinated Obligations, other than the purchase, repurchase or other
acquisition of Subordinated Obligations purchased in anticipation of satisfying a sinking
fund obligation, principal installment or final maturity, in each case due within one year
of such purchase, repurchase or acquisition; or

          (4) the making of any Investment in any Person other than a Permitted Investment.

In determining the amount of any Restricted Payment made in property other than cash, the amount
shall be the fair market value of the property at the time of the Restricted Payment.

     “Restricted Period” means the 40-day distribution compliance period as defined in Regulation
S.

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     “Restricted Subsidiary” means any Subsidiary of the Company that is not an Unrestricted
Subsidiary.

     “Rule 144” means Rule 144 promulgated under the Securities Act.

     “Rule 144A” means Rule 144A promulgated under the Securities Act.

     “Rule 903” means Rule 903 promulgated under the Securities Act.

     “Rule 904” means Rule 904 promulgated under the Securities Act.

     “S&P” means Standard & Poor’s Ratings Group.

     “Sale/Leaseback Transaction” means an arrangement relating to property now owned or hereafter
acquired whereby the Company or a Restricted Subsidiary transfers the property to a Person and the
Company or a Restricted Subsidiary leases it from the Person. Notwithstanding the foregoing, any
transfer of property by the Company or a Restricted Subsidiary to a Person within 90 days of such
property’s acquisition by the Company or such Restricted Subsidiary that is then leased back to the
Company or such Restricted Subsidiary at any time following such transfer shall not be considered a
Sale/Leaseback Transaction.

     “SEC” means the U.S. Securities and Exchange Commission.

     “Securities Act” means the U.S. Securities Act of 1933, as amended.

     “Shelf Registration Statement” means the Shelf Registration Statement as defined in the
Registration Rights Agreement.

     “Significant Subsidiary” means any Subsidiary that would be a “significant subsidiary” as
defined in Article 1, Rule 1-02 of Regulation 

S-X, promulgated pursuant to the Securities Act, as
such Regulation is in effect on the date of this Indenture.

     “Specified Senior Indebtedness” means (i) the Indebtedness of any Person, whether outstanding
on the Issue Date or thereafter incurred and (ii) accrued and unpaid interest (including interest
accruing on or after the filing of any petition in bankruptcy or for reorganization relating to
such Person to the extent post filing interest is allowed in such proceeding) in respect of (A)
Indebtedness of such Person for money borrowed and (B) Indebtedness evidenced by notes, debentures,
bonds or other similar instruments for the payment of which such Person is responsible or liable
unless, in the case of either clause (i) or (ii), in the instrument creating or evidencing the same
pursuant to which the same is outstanding, it is provided, that such obligations are subordinate in
right of payment to the Notes; provided, however, that Specified Senior Indebtedness shall not
include (1) any obligation of such Person to any Subsidiary of such Person, (2) any liability for
Federal, state, local, foreign or other taxes owed or owing by such Person, (3) any accounts
payable or other liability to trade creditors arising in the ordinary course of business (including
Guarantees thereof or instruments evidencing such liabilities), (4) any obligations in respect of
Capital Stock of such Person or (5) that portion of any Indebtedness which at the time of
incurrence is incurred in violation of this Indenture.

     “Stated Maturity” of any security means the date specified in the security as the fixed date
on which the final payment of principal of the security is due and payable, including under any
mandatory redemption provision, but excluding any provision providing for the repurchase of the
security at the option of the holder upon the happening of any contingency unless the contingency
has occurred.

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     “STATS ChipPAC China” means each of STATS ChipPAC Shanghai Co., Ltd. (formerly ChipPAC
(Shanghai) Company Ltd) and STATS ChipPAC Test Services (Shanghai) Co., Ltd. (formerly STATS
Shanghai Ltd).

     “STATS ChipPAC Korea” means STATS ChipPAC Korea Ltd. (formerly ChipPAC Korea Company Ltd.).

     “STATS ChipPAC Malaysia” means STATS ChipPAC Malaysia Sdn. Bhd. (formerly ChipPAC Malaysia
Sdn. Bhd.).

     “Subordinated Note Indentures” means that certain indenture, dated as of May 28, 2003, between
ChipPAC, Inc. and U.S. Bank National Association, as trustee, as amended or supplemented from time
to time, and that certain indenture, dated as of June 15, 2001, between ChipPAC Inc. and Firstar
Bank, N.A., as trustee, as amended or supplemented from time to time, relating to the Subordinated
Notes.

     “Subordinated Notes” mean the 2.50% Convertible Subordinated Notes due 2008 of ChipPAC, Inc.
and the 8.0% Convertible Subordinated Notes due 2011 of ChipPAC, Inc. issued pursuant to the
Subordinated Note Indentures.

     “Subordinated Obligation” means any Indebtedness of the Company or any Guarantor, whether
outstanding on the Issue Date or thereafter Incurred, which is subordinate or junior in right of
payment to, in the case of the Company, the Notes or, in the case of any Guarantor, its Guarantee,
under a written agreement to that effect.

     “Subsidiary” means, with respect to any specified Person:

  
   (1) any corporation, association or other business entity of which more than 50% of the
total voting power of shares of Capital Stock entitled (without regard to the occurrence of
any contingency and after giving effect to any voting agreement or stockholders’ agreement
that effectively transfers voting power) to vote in the election of directors, managers or
trustees of the corporation, association or other business entity is at the time owned or
controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries
of that Person (or a combination thereof); and

   
  (2) any partnership (a) the sole general partner or the managing general partner of
which is such Person or a Subsidiary of such Person or (b) the only general partners of
which are that Person or one or more Subsidiaries of that Person (or any combination
thereof).

     “Subsidiary Guarantee Agreement” means that certain Subsidiary Guarantee Agreement dated as of
the date hereof made by STATS ChipPAC, Inc., a Delaware corporation, STATS Holdings Limited, a
corporation organized under the laws of the British Virgin Islands, STATS ChipPAC Test Services,
Inc., a Delaware corporation, STATS ChipPAC (Barbados) Ltd., a corporation organized under the laws
of Barbados, ChipPAC International Company Limited, a corporation organized under the laws of the
British Virgin Islands, STATS ChipPAC (BVI) Limited, a corporation organized under the laws of the
British Virgin Islands, ChipPAC Luxembourg S.a.R.L., a corporation organized under the laws of
Luxembourg, ChipPAC Liquidity Management Hungary Limited, a limited liability company organized
under the laws of Hungary, and STATS ChipPAC Malaysia Sdn. Bhd., a corporation organized under the
laws of Malaysia, in favor of the Holders of the Notes and the Trustee, in the form attached as
Exhibit G to this Indenture.

     “Temporary Cash Investments” means any of the following:

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     (1) any evidence of Indebtedness, maturing not more than one year after the date of
investment by the Company or any Restricted Subsidiary, issued by the United States of
America or any of its instrumentality agencies, or by the Republic of Korea, the Republic of
Singapore or any of their respective instrumentalities or agencies, or by the Asian
Development Bank, the World Bank or any other supranational organization, referred to as the
“Government Entities,” and guaranteed or otherwise backed, directly or indirectly fully as
to principal, premium, if any, and interest, by the Government Entity issuing the
indebtedness;

     (2) investments in time deposit accounts, certificates of deposit and money market
deposits maturing within 180 days of the date of the investments’ acquisition issued by a
bank or trust company which is organized under the laws of the United States of America, any
state of the United States or any foreign country recognized by the United States, and which
bank or trust company has capital, surplus and undivided profits aggregating in excess of
$250.0 million, or the foreign currency equivalent thereof, and has outstanding debt which
is rated “A,” or a similar equivalent rating, or higher by at least one nationally
recognized statistical rating organization, as defined in Rule 436 under the Securities Act,
or any money-market fund sponsored by a registered broker dealer or mutual fund distributor;

     (3) repurchase obligations with a term of not more than 30 days for underlying
securities of the types described in clause (1) above entered into with a bank meeting the
qualifications described in clause (2) above;

     (4) investments in commercial paper, maturing not more than 90 days after the date of
acquisition, issued by a corporation, other than an Affiliate of the Company, organized and
in existence under the laws of the United States of America or any foreign country
recognized by the United States of America with a rating at the time as of which any
investment therein is made of “P-1” or higher according to Moody’s or “A-1” or higher
according to S&P; and

     (5) investments in securities with maturities of six months or less from the date of
acquisition issued or fully guaranteed by any state, commonwealth or territory of the United
States of America, or by any political subdivision or taxing authority of the United States,
and rated at least “A” by S&P or “A” by Moody’s.

   
  “TIA” means the Trust Indenture Act of 1939, as amended (15 U.S.C. §§ 77aaa-77bbbb).

     “Total Assets” means the total consolidated assets less goodwill of the Company and those of
its Guarantors, as provided in the most recent consolidated balance sheet of the Company.

     “Treasury Rate” means, as of any redemption date, the yield to maturity as of such redemption
date of United States Treasury securities with a constant maturity (as compiled and published in
the most recent Federal Reserve Statistical Release H.15 (519) that has become publicly available
at least two business days prior to the redemption date (or, if such Statistical Release is no
longer published, any publicly available source of similar market data)) most nearly equal to the
period from the redemption date to July 19, 2010; provided, however, that if the period from the
redemption date to July 19, 2010, is less than one year, the weekly average yield on actually
traded United States Treasury securities adjusted to a constant maturity of one year will be used.

     “Trustee” means U.S. Bank National Association until a successor replaces it in accordance
with the applicable provisions of this Indenture and thereafter means the successor serving
hereunder.

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     “Unrestricted Definitive Note” means a Definitive Note that does not bear and is not required
to bear the Private Placement Legend.

     “Unrestricted Global Note” means a Global Note that does not bear and is not required to bear
the Private Placement Legend.

     “Unrestricted Subsidiary” means (1) Winstek Semiconductor Corporation unless and until such
entity is designated a Restricted Subsidiary in accordance with the provisions of this Indenture,
(2) any Subsidiary of the Company that at the time of determination shall be designated an
Unrestricted Subsidiary by the Board of Directors of the Company in the manner provided below and
(3) any Subsidiary of an Unrestricted Subsidiary of the Company. The Board of Directors of the
Company may designate any Subsidiary of the Company, including any newly acquired or newly formed
Subsidiary, to be an Unrestricted Subsidiary unless the Subsidiary or any of its Subsidiaries owns
any Capital Stock or Indebtedness of, or holds any Lien on any property of, the Company or any
other Subsidiary of the Company that is not a Subsidiary of the Subsidiary to be so designated;
provided, however, that either (A) the Subsidiary to be so designated has total assets of $1,000 or
less or (B) if the Subsidiary has assets greater than $1,000, the designation would be permitted
under Section 4.07 hereof. The Board of Directors of the Company may designate any Unrestricted
Subsidiary to be a Restricted Subsidiary; provided, however, that immediately after giving effect
to the designation (x) the Company could Incur $1.00 of additional Indebtedness under paragraph (a)
of Section 4.09 hereof and (y) no Default shall have occurred and be continuing. The designation
by the Board of Directors of the Company shall be evidenced to the Trustee by promptly filing with
the Trustee a copy of the resolution of the Board of Directors giving effect to the designation and
an Officers’ Certificate certifying that the designation complied with these provisions.

     “U.S. Dollar Equivalent” of any monetary amount in a currency other than U.S. dollars means,
at any time for determination thereof, the amount of U.S. dollars obtained by converting the
foreign currency involved in the computation into U.S. dollars at the spot rate for the purchase of
U.S. dollars with the applicable foreign currency as published in The Wall Street Journal in the
“Exchange Rates” column under the heading “Currency Trading” on the date two business days prior to
the determination.

Except as described under Section 4.09 hereof, whenever it is necessary to determine whether the
Company has complied with any covenant herein or a Default has occurred and an amount is expressed
in a currency other than U.S. dollars, the amount will be treated as the U.S. Dollar Equivalent
determined as of the date the amount is initially determined in the currency.

     “U.S. GAAP” means generally accepted accounting principles set forth in the opinions and
pronouncements of the Accounting Principles Board of the American Institute of Certified Public
Accountants and statements and pronouncements of the Financial Accounting Standards Board or in
such other statements by such other entity as have been approved by a significant segment of the
accounting profession, which are in effect on the Issue Date.

     “U.S. Person” means a U.S. Person as defined in Rule 902(k) promulgated under the Securities
Act.

     “Voting Stock” of any specified Person as of any date means the Capital Stock of such Person
that is at the time entitled to vote in the election of the Board of Directors of such Person.

     “Weighted Average Life to Maturity” means, when applied to any Indebtedness at any date, the
number of years obtained by dividing:

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     (1) the sum of the products obtained by multiplying (a) the amount of each then
remaining installment, sinking fund, serial maturity or other required payments of
principal, including payment at final maturity, in respect of the Indebtedness, by (b) the
number of years (calculated to the nearest one-twelfth) that will elapse between such date
and the making of such payment; by

     (2) the then outstanding principal amount of such Indebtedness.

     “Wholly Owned Subsidiary” means a Restricted Subsidiary the Capital Stock of which (other than
directors’ qualifying shares) is at least 95% owned by the Company or one or more Wholly Owned
Subsidiaries.

Section 1.02 Other Definitions.

	 	 	 	 	 
	 	 	Defined in
	Term	 	Section
	“Additional Amounts”
	 	 	4.19	 
	“Affiliate Transaction”
	 	 	4.11	 
	“Asset Sale Offer”
	 	 	3.09	 
	“Authentication Order”
	 	 	2.02	 
	“Change of Control Offer”
	 	 	4.15	 
	“Change of Control Payment”
	 	 	4.15	 
	“Change of Control Payment Date”
	 	 	4.15	 
	“Covenant Defeasance”
	 	 	8.03	 
	“DTC”
	 	 	2.03	 
	“Event of Default”
	 	 	6.01	 
	“Excess Proceeds”
	 	 	4.10	 
	“Foreign Jurisdiction Merger”
	 	 	5.01	 
	“incur”
	 	 	4.09	 
	“Korea Approvals”
	 	 	4.16	 
	“Korea Deadline”
	 	 	4.16	 
	“Korea Guarantee”
	 	 	4.16	 
	“Korea Guarantee Offer”
	 	 	4.16	 
	“Korea Guarantee Offer Event”
	 	 	4.16	 
	“Korea Guarantee Offer Payment Date”
	 	 	4.16	 
	“Korea Guarantee Payment”
	 	 	4.16	 
	“Legal Defeasance”
	 	 	8.02	 
	“Offer Amount”
	 	 	3.09	 
	“Offer Period”
	 	 	3.09	 
	“Paying Agent”
	 	 	2.03	 
	“Payment Default”
	 	 	6.01	 
	“Purchase Date”
	 	 	3.09	 
	“Process Agent”
	 	 	11.11	 
	“Registrar”
	 	 	2.03	 
	“Relevant Jurisdiction”
	 	 	4.20	 
	“Successor Company”
	 	 	5.01	 
	“Trigger Percentage
	 	 	4.13	 

Section 1.03 Incorporation by Reference of Trust Indenture Act.

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     Whenever this Indenture refers to a provision of the TIA, the provision is incorporated
by reference in and made a part of this Indenture.

     The following TIA terms used in this Indenture have the following meanings:

     “indenture securities” means the Notes;

     “indenture security Holder” means a Holder of a Note;

     “indenture to be qualified” means this Indenture;

     “indenture trustee” or “institutional trustee” means the Trustee; and

     “obligor” on the Notes and the Note Guarantees means the Company and the Guarantors,
respectively, and any successor obligor upon the Notes and the Note Guarantees, respectively.

     All other terms used in this Indenture that are defined by the TIA, defined by TIA reference
to another statute or defined by SEC rule under the TIA have the meanings so assigned to them.

Section 1.04 Rules of Construction.

     Unless the context otherwise requires:

     (1) a term has the meaning assigned to it;

     (2) an accounting term not otherwise defined has the meaning assigned to it in
accordance with U.S. GAAP;

     (3) “or” is not exclusive;

     (4) words in the singular include the plural, and in the plural include the singular;

     (5) “will” shall be interpreted to express a command;

     (6) provisions apply to successive events and transactions; and

     (7) references to sections of or rules under the Securities Act will be deemed to
include substitute, replacement of successor sections or rules adopted by the SEC from time
to time.

ARTICLE 2

THE NOTES

Section 2.01 Form and Dating.

     (a) General. The Notes and the Trustee’s certificate of authentication will be
substantially in the form of Exhibits A hereto. The Notes may have notations, legends or
endorsements required by law, stock exchange rule or usage. Each Note will be dated the date of
its authentication. The Notes shall be in denominations of $1,000 and integral multiples thereof.

     The terms and provisions contained in the Notes will constitute, and are hereby expressly
made, a part of this Indenture and the Company and the Trustee, by their execution and delivery of
this Indenture,

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expressly agree to such terms and provisions and to be bound thereby. However, to the extent
any provision of any Note conflicts with the express provisions of this Indenture, the provisions
of this Indenture shall govern and be controlling.

     (b) Global Notes. Notes issued in global form will be substantially in the form of
Exhibit A1 hereto (including the Global Note Legend thereon and the “Schedule of Exchanges of
Interests in the Global Note” attached thereto). Notes issued in definitive form will be
substantially in the form of Exhibit A hereto (but without the Global Note Legend thereon and
without the “Schedule of Exchanges of Interests in the Global Note” attached thereto). Each Global
Note will represent such of the outstanding Notes as will be specified therein and each shall
provide that it represents the aggregate principal amount of outstanding Notes from time to time
endorsed thereon and that the aggregate principal amount of outstanding Notes represented thereby
may from time to time be reduced or increased, as appropriate, to reflect exchanges and
redemptions. Any endorsement of a Global Note to reflect the amount of any increase or decrease in
the aggregate principal amount of outstanding Notes represented thereby will be made by the Trustee
or the Custodian, at the direction of the Trustee, in accordance with instructions given by the
Holder thereof as required by Section 2.06 hereof.

Section 2.02 Execution and Authentication.

     At least one Officer must sign the Notes for the Company by manual or facsimile
signature.

     If an Officer whose signature is on a Note no longer holds that office at the time a Note is
authenticated, the Note will nevertheless be valid.

     A Note will not be valid until authenticated by the manual signature of the Trustee. The
signature will be conclusive evidence that the Note has been authenticated under this Indenture.

     The Trustee will, upon receipt of a written order of the Company signed by an Officer (an
“Authentication Order”), authenticate Notes for original issue that may be validly issued under
this Indenture, including any Additional Notes. The aggregate principal amount of Notes
outstanding at any time may not exceed the aggregate principal amount of Notes authorized for
issuance by the Company pursuant to one or more Authentication Orders, except as provided in
Section 2.07 hereof. The Trustee shall deliver the authenticated Notes to the persons identified,
and when and otherwise directed, in the Authentication Order.

     The Trustee may appoint an authenticating agent acceptable to the Company to authenticate
Notes. An authenticating agent may authenticate Notes whenever the Trustee may do so. Each
reference in this Indenture to authentication by the Trustee includes authentication by such agent.
An authenticating agent has the same rights as an Agent to deal with Holders or an Affiliate of the
Company.

Section 2.03 Registrar and Paying Agent.

     The Company will maintain an office or agency where Notes may be presented for
registration of transfer or for exchange (“Registrar”) and an office or agency where Notes may be
presented for payment (“Paying Agent”). The Registrar will keep a register of the Notes and of
their transfer and exchange. The Company may appoint one or more co-registrars and one or more
additional paying agents. The term “Registrar” includes any co-registrar and the term “Paying
Agent” includes any additional paying agent. The Company may change any Paying Agent or Registrar
without notice to any Holder. The Company will notify the Trustee in writing of the name and
address of any Agent not a party to this Indenture. If the Company fails to appoint or maintain
another entity as Registrar or Paying Agent, the Trustee shall act as such. The Company or any of
its Subsidiaries may act as Paying Agent or Registrar.

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     The Company initially appoints The Depository Trust Company (“DTC”) to act as Depositary with
respect to the Global Notes.

     The Company initially appoints the Trustee to act as the Registrar and Paying Agent and to act
as Custodian with respect to the Global Notes. In addition, so long as the Notes are listed on
Singapore Exchange Securities Trading Limited (the “SGX-ST”) and the rules of the SGX-ST so
require, the Company shall also appoint and maintain a Registrar and Paying Agent in Singapore,
where Notes may be presented for registration, payment or redemption, in the event that a Global
Note is exchanged for a Definitive Note.

Section 2.04 Paying Agent to Hold Money in Trust.

     The Company will require each Paying Agent other than the Trustee to agree in writing
that the Paying Agent will hold in trust for the benefit of Holders or the Trustee all money held
by the Paying Agent for the payment of principal, premium or Liquidated Damages, if any, or
interest on the Notes, and will notify the Trustee of any default by the Company in making any such
payment. While any such default continues, the Trustee may require a Paying Agent to pay all money
held by it to the Trustee. The Company at any time may require a Paying Agent to pay all money
held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the
Company or a Subsidiary) will have no further liability for the money. If the Company or a
Subsidiary acts as Paying Agent, it will segregate and hold in a separate trust fund for the
benefit of the Holders all money held by it as Paying Agent. Upon any bankruptcy or reorganization
proceedings relating to the Company, the Trustee will serve as Paying Agent for the Notes.

Section 2.05 Holder Lists.

     The Trustee will preserve in as current a form as is reasonably practicable the most
recent list available to it of the names and addresses of all Holders and shall otherwise comply
with TIA § 312(a). If the Trustee is not the Registrar, the Company will furnish to the Trustee at
least seven Business Days before each interest payment date and at such other times as the Trustee
may request in writing, a list in such form and as of such date as the Trustee may reasonably
require of the names and addresses of the Holders of Notes and the Company shall otherwise comply
with TIA § 312(a).

Section 2.06 Transfer and Exchange.

     (a) Transfer and Exchange of Global Notes. A Global Note 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 to another nominee of the Depositary, or by the Depositary or any such nominee to a
successor Depositary or a nominee of such successor Depositary. All Global Notes will be exchanged
by the Company for Definitive Notes if:

     (1) the Company delivers to the Trustee notice from the Depositary that it is unwilling
or unable to continue to act as Depositary or that it is no longer a clearing agency
registered under the Exchange Act and, in either case, a successor Depositary is not
appointed by the Company within 120 days after the date of such notice from the Depositary;

     (2) the Company in its sole discretion determines that the Global Notes (in whole but
not in part) should be exchanged for Definitive Notes and delivers a written notice to such
effect to the Trustee; or

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     (3) there has occurred and is continuing a Default or Event of Default with respect to
the Notes.

     Upon the occurrence of either of the preceding events in (1) or (2) above, Definitive Notes
shall be issued in such names as the Depositary shall instruct the Trustee. Global Notes also may
be exchanged or replaced, in whole or in part, as provided in Sections 2.07 and 2.10 hereof. Every
Note authenticated and delivered in exchange for, or in lieu of, a Global Note or any portion
thereof, pursuant to this Section 2.06 or Section 2.07 or 2.10 hereof, shall be authenticated and
delivered in the form of, and shall be, a Global Note. A Global Note may not be exchanged for
another Note other than as provided in this Section 2.06(a), however, beneficial interests in a
Global Note may be transferred and exchanged as provided in Section 2.06(b), (c) or (f) hereof.

     (b) Transfer and Exchange of Beneficial Interests in the Global Notes. The transfer
and exchange of beneficial interests in the Global Notes will be effected through the Depositary,
in accordance with the provisions of this Indenture and the Applicable Procedures. Beneficial
interests in the Restricted Global Notes will be subject to restrictions on transfer comparable to
those set forth herein to the extent required by the Securities Act. Transfers of beneficial
interests in the Global Notes also will require compliance with either subparagraph (1) or (2)
below, as applicable, as well as one or more of the other following subparagraphs, as applicable:

     (1) Transfer of Beneficial Interests in the Same Global Note. Beneficial interests in
any Restricted Global Note may be transferred to Persons who take delivery thereof in the
form of a beneficial interest in the same Restricted Global Note in accordance with the
transfer restrictions set forth in the Private Placement Legend; provided, however, that
prior to the expiration of the Restricted Period, transfers of beneficial interests in the
Regulation S Global Note may not be made to a U.S. Person or for the account or benefit of a
U.S. Person (other than an Initial Purchaser). Beneficial interests in any Unrestricted
Global Note may be transferred to Persons who take delivery thereof in the form of a
beneficial interest in an Unrestricted Global Note. No written orders or instructions shall
be required to be delivered to the Registrar to effect the transfers described in this
Section 2.06(b)(1).

     (2) All Other Transfers and Exchanges of Beneficial Interests in Global Notes. In
connection with all transfers and exchanges of beneficial interests that are not subject to
Section 2.06(b)(1) above, the transferor of such beneficial interest must deliver to the
Registrar either:

     (A) both:

     (i) a written order from a Participant or an Indirect
Participant given to the Depositary in accordance with the Applicable
Procedures directing the Depositary to credit or cause to be credited a
beneficial interest in another Global Note in an amount equal to the
beneficial interest to be transferred or exchanged; and

     (ii) instructions given in accordance with the Applicable
Procedures containing information regarding the Participant account to be
credited with such increase; or

     (B) both:

     (i) a written order from a Participant or an Indirect
Participant given to the Depositary in accordance with the Applicable
Procedures directing the

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Depositary to cause to be issued a Definitive Note in an amount equal
to the beneficial interest to be transferred or exchanged; and

     (ii) instructions given by the Depositary to the Registrar
containing information regarding the Person in whose name such Definitive
Note shall be registered to effect the transfer or exchange referred to in
(1) above.

Upon consummation of an Exchange Offer by the Company in accordance with Section 2.06(f) hereof,
the requirements of this Section 

2.06(b)(2) shall be deemed to have been satisfied upon receipt by
the Registrar of the instructions contained in the Letter of Transmittal delivered by the Holder of
such beneficial interests in the Restricted Global Notes. Upon satisfaction of all of the
requirements for transfer or exchange of beneficial interests in Global Notes contained in this
Indenture and the Notes or otherwise applicable under the Securities Act, the Trustee shall adjust
the principal amount of the relevant Global Note(s) pursuant to Section 2.06(h) hereof.

     (3) Transfer of Beneficial Interests to Another Restricted Global Note. A beneficial
interest in any Restricted Global Note may be transferred to a Person who takes delivery
thereof in the form of a beneficial interest in another Restricted Global Note if the
transfer complies with the requirements of Section 2.06(b)(2) above and the Registrar
receives the following:

     (A) if the transferee will take delivery in the form of a beneficial interest
in the 144A Global Note, then the transferor must deliver a certificate in the form
of Exhibit B hereto, including the certifications in item (1) thereof;

     (B) if the transferee will take delivery in the form of a beneficial interest
in the Regulation S Global Note, then the transferor must deliver a certificate in
the form of Exhibit B hereto, including the certifications in item (2) thereof; and

     (C) if the transferee will take delivery in the form of a beneficial interest
in the IAI Global Note, then the transferor must deliver a certificate in the form
of Exhibit B hereto, including the certifications, certificates and Opinion of
Counsel required by item (3) thereof, if applicable.

     (4) Transfer and Exchange of Beneficial Interests in a Restricted Global Note for
Beneficial Interests in an Unrestricted Global Note. A beneficial interest in any
Restricted Global Note may be exchanged by any holder thereof for a beneficial interest in
an Unrestricted Global Note or transferred to a Person who takes delivery thereof in the
form of a beneficial interest in an Unrestricted Global Note if the exchange or transfer
complies with the requirements of Section 2.06(b)(2) above and:

     (A) such exchange or transfer is effected pursuant to the Exchange Offer in
accordance with the Registration Rights Agreement and the holder of the beneficial
interest to be transferred, in the case of an exchange, or the transferee, in the
case of a transfer, certifies in the applicable Letter of Transmittal that it is not
(i) a Broker-Dealer, (ii) a Person participating in the distribution of the Exchange
Notes or (iii) a Person who is an affiliate (as defined in Rule 144) of the Company;

     (B) such transfer is effected pursuant to the Shelf Registration Statement in
accordance with the Registration Rights Agreement;

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     (C) such transfer is effected by a Broker-Dealer pursuant to the Exchange Offer
Registration Statement in accordance with the Registration Rights Agreement; or

     (D) the Registrar receives the following:

     (i) if the holder of such beneficial interest in a Restricted
Global Note proposes to exchange such beneficial interest for a beneficial
interest in an Unrestricted Global Note, a certificate from such holder in
the form of Exhibit C hereto, including the certifications in item (1)(a)
thereof; or

     (ii) if the holder of such beneficial interest in a
Restricted Global Note proposes to transfer such beneficial interest to a
Person who shall take delivery thereof in the form of a beneficial interest
in an Unrestricted Global Note, a certificate from such holder in the form
of Exhibit B hereto, including the certifications in item (4) thereof;

and, in each such case set forth in this subparagraph (D), if the Registrar so
requests or if the Applicable Procedures so require, an Opinion of Counsel in form
reasonably acceptable to the Registrar to the effect that such exchange or transfer
is in compliance with the Securities Act and that the restrictions on transfer
contained herein and in the Private Placement Legend are no longer required in order
to maintain compliance with the Securities Act.

     If any such transfer is effected pursuant to subparagraph (B) or (D) above at a time when an
Unrestricted Global Note has not yet been issued, the Company shall issue and, upon receipt of an
Authentication Order in accordance with Section 2.02 hereof, the Trustee shall authenticate one or
more Unrestricted Global Notes in an aggregate principal amount equal to the aggregate principal
amount of beneficial interests transferred pursuant to subparagraph (B) or (D) above.

     Beneficial interests in an Unrestricted Global Note cannot be exchanged for, or transferred to
Persons who take delivery thereof in the form of, a beneficial interest in a Restricted Global
Note.

     (c) Transfer or Exchange of Beneficial Interests for Definitive Notes.

     (1) Beneficial Interests in Restricted Global Notes to Restricted Definitive Notes. If
any holder of a beneficial interest in a Restricted Global Note proposes to exchange such
beneficial interest for a Restricted Definitive Note or to transfer such beneficial interest
to a Person who takes delivery thereof in the form of a Restricted Definitive Note, then,
upon receipt by the Registrar of the following documentation:

     (A) if the holder of such beneficial interest in a Restricted Global Note
proposes to exchange such beneficial interest for a Restricted Definitive Note, a
certificate from such holder in the form of Exhibit C hereto, including the
certifications in item (2)(a) thereof;

     (B) if such beneficial interest is being transferred to a QIB in accordance
with Rule 144A, a certificate to the effect set forth in Exhibit B hereto, including
the certifications in item (1) thereof;

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     (C) if such beneficial interest is being transferred to a Non-U.S. Person in an
offshore transaction in accordance with Rule 903 or Rule 904, a certificate to the
effect set forth in Exhibit B hereto, including the certifications in item (2)
thereof;

     (D) if such beneficial interest is being transferred pursuant to an exemption
from the registration requirements of the Securities Act in accordance with Rule
144, a certificate to the effect set forth in Exhibit B hereto, including the
certifications in item (3)(a) thereof;

     (E) if such beneficial interest is being transferred to an Institutional
Accredited Investor in reliance on an exemption from the registration requirements
of the Securities Act other than those listed in subparagraphs (B) through (D)
above, a certificate to the effect set forth in Exhibit B hereto, including the
certifications, certificates and Opinion of Counsel required by item (3) thereof, if
applicable;

     (F) if such beneficial interest is being transferred to the Company or any of
its Subsidiaries, a certificate to the effect set forth in Exhibit B hereto,
including the certifications in item (3)(b) thereof; or

     (G) if such beneficial interest is being transferred pursuant to an effective
registration statement under the Securities Act, a certificate to the effect set
forth in Exhibit B hereto, including the certifications in item (3)(c) thereof,

the Trustee shall cause the aggregate principal amount of the applicable Global Note to be reduced
accordingly pursuant to Section 2.06(h) hereof, and the Company shall execute and the Trustee shall
authenticate and deliver to the Person designated in the instructions a Definitive Note in the
appropriate principal amount. Any Definitive Note issued in exchange for a beneficial interest in
a Restricted Global Note pursuant to this Section 2.06(c) shall be registered in such name or names
and in such authorized denomination or denominations as the holder of such beneficial interest
shall instruct the Registrar through instructions from the Depositary and the Participant or
Indirect Participant. The Trustee shall deliver such Definitive Notes to the Persons in whose names
such Notes are so registered. Any Definitive Note issued in exchange for a beneficial interest in
a Restricted Global Note pursuant to this Section 2.06(c)(1) shall bear the Private Placement
Legend and shall be subject to all restrictions on transfer contained therein.

     (2) Beneficial Interests in Restricted Global Notes to Unrestricted Definitive Notes.
A holder of a beneficial interest in a Restricted Global Note may exchange such beneficial
interest for an Unrestricted Definitive Note or may transfer such beneficial interest to a
Person who takes delivery thereof in the form of an Unrestricted Definitive Note only if:

     (A) such exchange or transfer is effected pursuant to the Exchange Offer in
accordance with the Registration Rights Agreement and the holder of such beneficial
interest, in the case of an exchange, or the transferee, in the case of a transfer,
certifies in the applicable Letter of Transmittal that it is not (i) a
Broker-Dealer, (ii) a Person participating in the distribution of the Exchange Notes
or (iii) a Person who is an affiliate (as defined in Rule 144) of the Company;

     (B) such transfer is effected pursuant to the Shelf Registration Statement in
accordance with the Registration Rights Agreement;

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     (C) such transfer is effected by a Broker-Dealer pursuant to the Exchange Offer
Registration Statement in accordance with the Registration Rights Agreement; or

     (D) the Registrar receives the following:

     (i) if the holder of such beneficial interest in a Restricted
Global Note proposes to exchange such beneficial interest for an
Unrestricted Definitive Note, a certificate from such holder in the form of
Exhibit C hereto, including the certifications in item

(1)(b) thereof; or

     (ii) if the holder of such beneficial interest in a
Restricted Global Note proposes to transfer such beneficial interest to a
Person who shall take delivery thereof in the form of an Unrestricted
Definitive Note, a certificate from such holder in the form of Exhibit B
hereto, including the certifications in item (4) thereof;

and, in each such case set forth in this subparagraph (D), if the Registrar so
requests or if the Applicable Procedures so require, an Opinion of Counsel in form
reasonably acceptable to the Registrar to the effect that such exchange or transfer
is in compliance with the Securities Act and that the restrictions on transfer
contained herein and in the Private Placement Legend are no longer required in order
to maintain compliance with the Securities Act.

     (3) Beneficial Interests in Unrestricted Global Notes to Unrestricted Definitive Notes.
If any holder of a beneficial interest in an Unrestricted Global Note proposes to exchange
such beneficial interest for a Definitive Note or to transfer such beneficial interest to a
Person who takes delivery thereof in the form of a Definitive Note, then, upon satisfaction
of the conditions set forth in Section 2.06(b)(2) hereof, the Trustee will cause the
aggregate principal amount of the applicable Global Note to be reduced accordingly pursuant
to Section 2.06(h) hereof, and the Company will execute and the Trustee will authenticate
and deliver to the Person designated in the instructions a Definitive Note in the
appropriate principal amount. Any Definitive Note issued in exchange for a beneficial
interest pursuant to this Section 2.06(c)(3) will be registered in such name or names and in
such authorized denomination or denominations as the holder of such beneficial interest
requests through instructions to the Registrar from or through the Depositary and the
Participant or Indirect Participant. The Trustee will deliver such Definitive Notes to the
Persons in whose names such Notes are so registered. Any Definitive Note issued in exchange
for a beneficial interest pursuant to this Section 2.06(c)(3) will not bear the Private
Placement Legend.

     (d) Transfer and Exchange of Definitive Notes for Beneficial Interests.

     (1) Restricted Definitive Notes to Beneficial Interests in Restricted Global Notes. If
any Holder of a Restricted Definitive Note proposes to exchange such Note for a beneficial
interest in a Restricted Global Note or to transfer such Restricted Definitive Notes to a
Person who takes delivery thereof in the form of a beneficial interest in a Restricted
Global Note, then, upon receipt by the Registrar of the following documentation:

     (A) if the Holder of such Restricted Definitive Note proposes to exchange such
Note for a beneficial interest in a Restricted Global Note, a certificate from such
Holder in the form of Exhibit C hereto, including the certifications in item (2)(b)
thereof;

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     (B) if such Restricted Definitive Note is being transferred to a QIB in
accordance with Rule 144A, a certificate to the effect set forth in Exhibit B
hereto, including the certifications in item (1) thereof;

     (C) if such Restricted Definitive Note is being transferred to a Non-U.S.
Person in an offshore transaction in accordance with Rule 903 or Rule 904, a
certificate to the effect set forth in Exhibit B hereto, including the
certifications in item (2) thereof;

     (D) if such Restricted Definitive Note is being transferred pursuant to an
exemption from the registration requirements of the Securities Act in accordance
with Rule 144, a certificate to the effect set forth in Exhibit B hereto, including
the certifications in item (3)(a) thereof;

     (E) if such Restricted Definitive Note is being transferred to an Institutional
Accredited Investor in reliance on an exemption from the registration requirements
of the Securities Act other than those listed in subparagraphs (B) through (D)
above, a certificate to the effect set forth in Exhibit B hereto, including the
certifications, certificates and Opinion of Counsel required by item (3) thereof, if
applicable;

     (F) if such Restricted Definitive Note is being transferred to the Company or
any of its Subsidiaries, a certificate to the effect set forth in Exhibit B hereto,
including the certifications in item (3)(b) thereof; or

     (G) if such Restricted Definitive Note is being transferred pursuant to an
effective registration statement under the Securities Act, a certificate to the
effect set forth in Exhibit B hereto, including the certifications in item (3)(c)
thereof,

the Trustee will cancel the Restricted Definitive Note, increase or cause to be
increased the aggregate principal amount of, in the case of clause (A) above, the
appropriate Restricted Global Note, in the case of clause (B) above, the 144A Global
Note, in the case of clause (C) above, the Regulation S Global Note, and in all
other cases, the IAI Global Note.

     (2) Restricted Definitive Notes to Beneficial Interests in Unrestricted Global Notes.
A Holder of a Restricted Definitive Note may exchange such Note for a beneficial interest in
an Unrestricted Global Note or transfer such Restricted Definitive Note to a Person who
takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Note
only if:

     (A) such exchange or transfer is effected pursuant to the Exchange Offer in
accordance with the Registration Rights Agreement and the Holder, in the case of an
exchange, or the transferee, in the case of a transfer, certifies in the applicable
Letter of Transmittal that it is not (i) a Broker-Dealer, (ii) a Person
participating in the distribution of the Exchange Notes or (iii) a Person who is an
affiliate (as defined in Rule 144) of the Company;

     (B) such transfer is effected pursuant to the Shelf Registration Statement in
accordance with the Registration Rights Agreement;

     (C) such transfer is effected by a Broker-Dealer pursuant to the Exchange Offer
Registration Statement in accordance with the Registration Rights Agreement; or

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     (D) the Registrar receives the following:

     (i) if the Holder of such Definitive Notes proposes to
exchange such Notes for a beneficial interest in the Unrestricted Global
Note, a certificate from such Holder in the form of Exhibit C hereto,
including the certifications in item (1)(c) thereof; or

     (ii) if the Holder of such Definitive Notes proposes to
transfer such Notes to a Person who shall take delivery thereof in the form
of a beneficial interest in the Unrestricted Global Note, a certificate from
such Holder in the form of Exhibit B hereto, including the certifications in
item (4) thereof;

and, in each such case set forth in this subparagraph (D), if the Registrar so
requests or if the Applicable Procedures so require, an Opinion of Counsel in form
reasonably acceptable to the Registrar to the effect that such exchange or transfer
is in compliance with the Securities Act and that the restrictions on transfer
contained herein and in the Private Placement Legend are no longer required in order
to maintain compliance with the Securities Act.

     Upon satisfaction of the conditions of any of the subparagraphs in this Section
2.06(d)(2), the Trustee will cancel the Definitive Notes and increase or cause to be
increased the aggregate principal amount of the Unrestricted Global Note.

     (3) Unrestricted Definitive Notes to Beneficial Interests in Unrestricted Global Notes.
A Holder of an Unrestricted Definitive Note may exchange such Note for a beneficial
interest in an Unrestricted Global Note or transfer such Definitive Notes to a Person who
takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Note
at any time. Upon receipt of a request for such an exchange or transfer, the Trustee will
cancel the applicable Unrestricted Definitive Note and increase or cause to be increased the
aggregate principal amount of one of the Unrestricted Global Notes.

     If any such exchange or transfer from a Definitive Note to a beneficial interest is
effected pursuant to subparagraphs (2)(B), (2)(D) or (3) above at a time when an
Unrestricted Global Note has not yet been issued, the Company will issue and, upon receipt
of an Authentication Order in accordance with Section 2.02 hereof, the Trustee will
authenticate one or more Unrestricted Global Notes in an aggregate principal amount equal to
the principal amount of Definitive Notes so transferred.

     (e) Transfer and Exchange of Definitive Notes for Definitive Notes. Upon request by
a Holder of Definitive Notes and such Holder’s compliance with the provisions of this Section
2.06(e), the Registrar will register the transfer or exchange of Definitive Notes. Prior to such
registration of transfer or exchange, the requesting Holder must present or surrender to the
Registrar the Definitive Notes duly endorsed or accompanied by a written instruction of transfer in
form satisfactory to the Registrar duly executed by such Holder or by its attorney, duly authorized
in writing. In addition, the requesting Holder must provide any additional certifications,
documents and information, as applicable, required pursuant to the following provisions of this
Section 2.06(e).

     (1) Restricted Definitive Notes to Restricted Definitive Notes. Any Restricted
Definitive Note may be transferred to and registered in the name of Persons who take
delivery thereof in the form of a Restricted Definitive Note if the Registrar receives the
following:

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     (A) if the transfer will be made pursuant to Rule 144A, then the transferor
must deliver a certificate in the form of Exhibit B hereto, including the
certifications in item (1) thereof;

     (B) if the transfer will be made pursuant to Rule 903 or Rule 904, then the
transferor must deliver a certificate in the form of Exhibit B hereto, including the
certifications in item (2) thereof; and

     (C) if the transfer will be made pursuant to any other exemption from the
registration requirements of the Securities Act, then the transferor must deliver a
certificate in the form of Exhibit B hereto, including the certifications,
certificates and Opinion of Counsel required by item (3) thereof, if applicable.

     (2) Restricted Definitive Notes to Unrestricted Definitive Notes. Any Restricted
Definitive Note may be exchanged by the Holder thereof for an Unrestricted Definitive Note
or transferred to a Person or Persons who take delivery thereof in the form of an
Unrestricted Definitive Note if:

     (A) such exchange or transfer is effected pursuant to the Exchange Offer in
accordance with the Registration Rights Agreement and the Holder, in the case of an
exchange, or the transferee, in the case of a transfer, certifies in the applicable
Letter of Transmittal that it is not (i) a Broker-Dealer, (ii) a Person
participating in the distribution of the Exchange Notes or (iii) a Person who is an
affiliate (as defined in Rule 144) of the Company;

     (B) any such transfer is effected pursuant to the Shelf Registration Statement
in accordance with the Registration Rights Agreement;

     (C) any such transfer is effected by a Broker-Dealer pursuant to the Exchange
Offer Registration Statement in accordance with the Registration Rights Agreement;
or

     (D) the Registrar receives the following:

     (i) if the Holder of such Restricted Definitive Notes
proposes to exchange such Notes for an Unrestricted Definitive Note, a
certificate from such Holder in the form of Exhibit C hereto, including the
certifications in item (1)(d) thereof; or

     (ii) if the Holder of such Restricted Definitive Notes
proposes to transfer such Notes to a Person who shall take delivery thereof
in the form of an Unrestricted Definitive Note, a certificate from such
Holder in the form of Exhibit B hereto, including the certifications in item
(4) thereof;

and, in each such case set forth in this subparagraph (D), if the Registrar so
requests, an Opinion of Counsel in form reasonably acceptable to the Registrar to
the effect that such exchange or transfer is in compliance with the Securities Act
and that the restrictions on transfer contained herein and in the Private Placement
Legend are no longer required in order to maintain compliance with the Securities
Act.

     (3) Unrestricted Definitive Notes to Unrestricted Definitive Notes. A Holder of
Unrestricted Definitive Notes may transfer such Notes to a Person who takes delivery thereof
in

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the form of an Unrestricted Definitive Note. Upon receipt of a request to register
such a transfer, the Registrar shall register the Unrestricted Definitive Notes pursuant to
the instructions from the Holder thereof.

     (f) Exchange Offer. Upon the occurrence of the Exchange Offer in accordance with
the Registration Rights Agreement, the Company will issue and, upon receipt of an Authentication
Order in accordance with Section 2.02 hereof, the Trustee will authenticate:

     (1) one or more Unrestricted Global Notes in an aggregate principal amount equal to the
principal amount of the beneficial interests in the Restricted Global Notes accepted for
exchange in the Exchange Offer by Persons that certify in the applicable Letters of
Transmittal that (A) they are not Broker-Dealers, (B) they are not participating in a
distribution of the Exchange Notes and (C) they are not affiliates (as defined in Rule 144)
of the Company; and

     (2) Unrestricted Definitive Notes in an aggregate principal amount equal to the
principal amount of the Restricted Definitive Notes accepted for exchange in the Exchange
Offer by Persons that certify in the applicable Letters of Transmittal that (A) they are not
Broker-Dealers, (B) they are not participating in a distribution of the Exchange Notes and
(C) they are not affiliates (as defined in Rule 144) of the Company.

     Concurrently with the issuance of such Notes, the Trustee will cause the aggregate principal
amount of the applicable Restricted Global Notes to be reduced accordingly, and the Company will
execute and the Trustee will authenticate and deliver to the Persons designated by the Holders of
Definitive Notes so accepted Unrestricted Definitive Notes in the appropriate principal amount.

     (g) Legends. The following legends will appear on the face of all Global Notes and
Definitive Notes issued under this Indenture unless specifically stated otherwise in the applicable
provisions of this Indenture.

     (1) Private Placement Legend.

     (A) Except as permitted by subparagraph (B) below, each Global Note and each
Definitive Note (and all Notes issued in exchange therefor or substitution thereof)
shall bear the legend in substantially the following form:

“THIS NOTE HAS NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”) AND, ACCORDINGLY, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED
WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS, EXCEPT AS SET FORTH
IN THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE
HOLDER (1) REPRESENTS THAT (A) IT IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A
UNDER THE SECURITIES ACT) (A “QIB”), (B) IT IS NOT A U.S. PERSON, IS NOT ACQUIRING THIS NOTE FOR
THE ACCOUNT OR BENEFIT OF A U.S. PERSON AND IS ACQUIRING THIS NOTE IN AN OFFSHORE TRANSACTION IN
COMPLIANCE WITH REGULATION S UNDER THE SECURITIES ACT OR (C) IT IS AN INSTITUTIONAL “ACCREDITED
INVESTOR” (AS DEFINED IN RULE 501(A)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT)
(AN “IAI”), (2) AGREES THAT IT WILL NOT, WITHIN THE TIME PERIOD REFERRED TO UNDER RULE 144(k)
(TAKING INTO ACCOUNT THE PROVISIONS OF RULE 144(d) UNDER THE SECURITIES ACT, IF APPLICABLE) UNDER
THE SECURITIES ACT AS IN EFFECT ON THE DATE OF THE TRANSFER OF THIS NOTE, RESELL OR OTHERWISE
TRANSFER THIS NOTE EXCEPT (A) TO THE COMPANY OR ANY

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SUBSIDIARY THEREOF, (B) TO A PERSON WHOM THE HOLDER REASONABLY BELIEVES IS A QIB PURCHASING FOR ITS
OWN ACCOUNT OR FOR THE ACCOUNT OF A QIB IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT, (C)
OUTSIDE THE UNITED STATES IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH RULE 904 UNDER THE
SECURITIES ACT, (D) PURSUANT TO THE EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE
SECURITIES ACT (IF AVAILABLE), (E) TO AN IAI THAT, PRIOR TO SUCH TRANSFER, FURNISHES TO THE TRUSTEE
A SIGNED LETTER CONTAINING CERTAIN REPRESENTATIONS AND AGREEMENTS RELATING TO THE REGISTRATION OF
TRANSFER OF THIS NOTE (THE FORM OF WHICH LETTER CAN BE OBTAINED FROM THE TRUSTEE) AND AN OPINION OF
COUNSEL ACCEPTABLE TO THE COMPANY THAT SUCH TRANSFER IS IN COMPLIANCE WITH THE SECURITIES ACT OR
(F) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND, IN EACH CASE, IN
ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS, AND (3) AGREES THAT IT WILL DELIVER TO EACH
PERSON TO WHOM THIS NOTE OR AN INTEREST HEREIN IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT
OF THIS LEGEND. IN CONNECTION WITH ANY TRANSFER OF THIS NOTE OR ANY INTEREST HEREIN WITHIN THE
TIME PERIOD REFERRED TO ABOVE, THE HOLDER MUST CHECK THE APPROPRIATE BOX SET FORTH ON THE REVERSE
HEREOF RELATING TO THE MANNER OF SUCH TRANSFER AND SUBMIT THIS CERTIFICATE TO THE TRUSTEE. AS USED
HEREIN, THE TERMS “OFFSHORE TRANSACTION,” “UNITED STATES” AND “U.S. PERSON” HAVE THE MEANINGS GIVEN
TO THEM BY RULE 902 OF REGULATION S UNDER THE SECURITIES ACT. THE INDENTURE CONTAINS A PROVISION
REQUIRING THE TRUSTEE TO REFUSE TO REGISTER ANY TRANSFER OF THIS NOTE IN VIOLATION OF THE FOREGOING
RESTRICTIONS.”

     (B) Notwithstanding the foregoing, any Global Note or Definitive Note issued
pursuant to subparagraphs (b)(4), (c)(2), (c)(3),
 (d)(2), (d)(3), (e)(2), (e)(3) or
(f) of this Section 2.06 (and all Notes issued in exchange therefor or substitution
thereof) will not bear the Private Placement Legend.

     (2) Global Note Legend. Each Global Note will bear a legend in substantially the
following form:

“THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR
ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO
ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS
MAY BE REQUIRED PURSUANT TO SECTION 2.06 OF THE INDENTURE, (2) THIS GLOBAL NOTE MAY BE EXCHANGED IN
WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, (3) THIS GLOBAL NOTE MAY BE
DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.11 OF THE INDENTURE AND (4) THIS
GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE
COMPANY.

UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY
NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR 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 DEPOSITORY TRUST
COMPANY (55

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WATER STREET, NEW YORK, NEW YORK) (“DTC”), 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 SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS
MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE 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.”

     (h) Cancellation and/or Adjustment of Global Notes. At such time as all beneficial
interests in a particular Global Note have been exchanged for Definitive Notes or a particular
Global Note has been redeemed, repurchased or canceled in whole and not in part, each such Global
Note will be returned to or retained and canceled by the Trustee in accordance with Section 2.11
hereof. At any time prior to such cancellation, if any beneficial interest in a Global Note is
exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial
interest in another Global Note or for Definitive Notes, the principal amount of Notes represented
by such Global Note will be reduced accordingly and an endorsement will be made on such Global Note
by the Trustee or by the Depositary at the direction of the Trustee to reflect such reduction; and
if the beneficial interest is being exchanged for or transferred to a Person who will take delivery
thereof in the form of a beneficial interest in another Global Note, such other Global Note will be
increased accordingly and an endorsement will be made on such Global Note by the Trustee or by the
Depositary at the direction of the Trustee to reflect such increase.

     (i) General Provisions Relating to Transfers and Exchanges.

     (1) To permit registrations of transfers and exchanges, the Company will execute and
the Trustee will authenticate Global Notes and Definitive Notes upon receipt of an
Authentication Order in accordance with Section 2.02 hereof or at the Registrar’s request.

     (2) No service charge will be made to a Holder of a beneficial interest in a Global
Note or to a Holder of a Definitive Note for any registration of transfer or exchange, but
the Company may require payment of a sum sufficient to cover any transfer tax or similar
governmental charge payable in connection therewith (other than any such transfer taxes or
similar governmental charge payable upon exchange or transfer pursuant to Sections 2.10,
3.06, 3.09, 4.10, 4.15 and 9.05 hereof).

     (3) The Registrar will not be required to register the transfer of or exchange of any
Note selected for redemption in whole or in part, except the unredeemed portion of any Note
being redeemed in part.

     (4) All Global Notes and Definitive Notes issued upon any registration of transfer or
exchange of Global Notes or Definitive Notes will be the valid obligations of the Company,
evidencing the same debt, and entitled to the same benefits under this Indenture, as the
Global Notes or Definitive Notes surrendered upon such registration of transfer or exchange.

     (5) Neither the Registrar nor the Company will be required:

     (A) to issue, to register the transfer of or to exchange any Notes during a
period beginning at the opening of business 15 days before the day of any selection
of Notes for redemption under Section 3.02 hereof and ending at the close of
business on the day of selection;

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     (B) to register the transfer of or to exchange any Note selected for redemption
in whole or in part, except the unredeemed portion of any Note being redeemed in
part; or

     (C) to register the transfer of or to exchange a Note between a record date and
the next succeeding interest payment date.

     (6) Prior to due presentment for the registration of a transfer of any Note, the
Trustee, any Agent and the Company may deem and treat the Person in whose name any Note is
registered as the absolute owner of such Note for the purpose of receiving payment of
principal of and interest on such Notes and for all other purposes, and none of the Trustee,
any Agent or the Company shall be affected by notice to the contrary.

     (7) The Trustee will authenticate Global Notes and Definitive Notes in accordance with
the provisions of Section 2.02 hereof.

     (8) All certifications, certificates and Opinions of Counsel required to be submitted
to the Registrar pursuant to this Section 2.06 to effect a registration of transfer or
exchange may be submitted by facsimile.

Section 2.07 Replacement Notes.

     If any mutilated Note is surrendered to the Trustee or the Company and the Trustee
receives evidence to its satisfaction of the destruction, loss or theft of any Note, the Company
will issue and the Trustee, upon receipt of an Authentication Order, will authenticate a
replacement Note if the Trustee’s requirements are met. If required by the Trustee or the Company,
an indemnity bond must be supplied by the Holder that is sufficient in the judgment of the Trustee
and the Company to protect the Company, the Trustee, any Agent and any authenticating agent from
any loss that any of them may suffer if a Note is replaced. The Company may charge for its
expenses in replacing a Note.

     Every replacement Note is an additional obligation of the Company and will be entitled to all
of the benefits of this Indenture equally and proportionately with all other Notes duly issued
hereunder.

Section 2.08 Outstanding Notes.

     The Notes outstanding at any time are all the Notes authenticated by the Trustee except
for those canceled by it, those delivered to it for cancellation, those reductions in the interest
in a Global Note effected by the Trustee in accordance with the provisions hereof, and those
described in this Section 2.08 as not outstanding. Except as set forth in Section 2.09 hereof, a
Note does not cease to be outstanding because the Company or an Affiliate of the Company holds the
Note; however, Notes held by the Company or a Subsidiary of the Company shall not be deemed to be
outstanding for purposes of Section 3.07(a) hereof.

     If a Note is replaced pursuant to Section 2.07 hereof, it ceases to be outstanding unless the
Trustee receives proof satisfactory to it that the replaced Note is held by a protected purchaser.

     If the principal amount of any Note is considered paid under Section 4.01 hereof, it ceases to
be outstanding and interest on it ceases to accrue.

     If the Paying Agent (other than the Company, a Subsidiary or an Affiliate of any thereof)
holds, on a redemption date or maturity date, money sufficient to pay Notes payable on that date,
then on and after that date such Notes will be deemed to be no longer outstanding and will cease to
accrue interest.

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Section 2.09 Treasury Notes.

     In determining whether the Holders of the required principal amount of Notes have
concurred in any direction, waiver or consent, Notes owned by the Company or any Guarantor, or by
any Person directly or indirectly controlling or controlled by or under direct or indirect common
control with the Company or any Guarantor, will be considered as though not outstanding, except
that for the purposes of determining whether the Trustee will be protected in relying on any such
direction, waiver or consent, only Notes that the Trustee knows are so owned will be so
disregarded.

Section 2.10 Temporary Notes.

     Until certificates representing Notes are ready for delivery, the Company may prepare and
the Trustee, upon receipt of an Authentication Order, will authenticate temporary Notes. Temporary
Notes will be substantially in the form of certificated Notes but may have variations that the
Company considers appropriate for temporary Notes and as may be reasonably acceptable to the
Trustee. Without unreasonable delay, the Company will prepare and the Trustee will authenticate
definitive Notes in exchange for temporary Notes.

     Holders of temporary Notes will be entitled to all of the benefits of this Indenture.

Section 2.11 Cancellation.

     The Company at any time may deliver Notes to the Trustee for cancellation. The Registrar
and Paying Agent will forward to the Trustee any Notes surrendered to them for registration of
transfer, exchange or payment. The Trustee and no one else will cancel all Notes surrendered for
registration of transfer, exchange, payment, replacement or cancellation and will destroy canceled
Notes (subject to the record retention requirement of the Exchange Act). Certification of the
destruction of all canceled Notes will be delivered to the Company. The Company may not issue new
Notes to replace Notes that it has paid or that have been delivered to the Trustee for
cancellation.

Section 2.12 Defaulted Interest.

     If the Company defaults in a payment of interest on the Notes, it will pay the defaulted
interest in any lawful manner plus, to the extent lawful, interest payable on the defaulted
interest, to the Persons who are Holders on a subsequent special record date, in each case at the
rate provided in the Notes and in Section 4.01 hereof. The Company will notify the Trustee in
writing of the amount of defaulted interest proposed to be paid on each Note and the date of the
proposed payment. The Company will fix or cause to be fixed each such special record date and
payment date; provided that no such special record date may be less than 10 days prior to the
related payment date for such defaulted interest. At least 15 days before the special record date,
the Company (or, upon the written request of the Company, the Trustee in the name and at the
expense of the Company) will mail or cause to be mailed to Holders a notice that states the special
record date, the related payment date and the amount of such interest to be paid.

ARTICLE 3

REDEMPTION AND PREPAYMENT

Section 3.01 Notices to Trustee.

     If the Company elects to redeem Notes pursuant to the optional redemption provisions of
Section 3.07 hereof, it must furnish to the Trustee, at least 30 days but not more than 60 days
before a redemption date, an Officers’ Certificate setting forth:

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     (1) the clause of this Indenture pursuant to which the redemption shall occur;

     (2) the redemption date;

     (3) the principal amount of Notes to be redeemed; and

     (4) the redemption price.

Section 3.02 Selection of Notes to Be Redeemed or Purchased.

     If less than all of the Notes are to be redeemed or purchased in an offer to purchase at
any time, the Trustee will select Notes for redemption or purchase on a pro rata basis except:

     (1) if the Notes are listed on any national securities exchange, in compliance with the
requirements of the principal national securities exchange on which the Notes are listed; or

     (2) if otherwise required by law.

     In the event of partial redemption or purchase by lot, the particular Notes to be redeemed or
purchased will be selected, unless otherwise provided herein, not less than 30 nor more than 60
days prior to the redemption or purchase date by the Trustee from the outstanding Notes not
previously called for redemption or purchase.

     The Trustee will promptly notify the Company in writing of the Notes selected for redemption
or purchase and, in the case of any Note selected for partial redemption or purchase, the principal
amount thereof to be redeemed or purchased. Notes and portions of Notes selected will be in
amounts of $1,000 or whole multiples of $1,000; except that if all of the Notes of a Holder are to
be redeemed or purchased, the entire outstanding amount of Notes held by such Holder, even if not a
multiple of $1,000, shall be redeemed or purchased. Except as provided in the preceding sentence,
provisions of this Indenture that apply to Notes called for redemption or purchase also apply to
portions of Notes called for redemption or purchase.

Section 3.03 Notice of Redemption.

     Subject to the provisions of Section 3.09 hereof, at least 30 days but not more than 60
days before a redemption date, the Company will mail or cause to be mailed, by first class mail, a
notice of redemption to each Holder whose Notes are to be redeemed at its registered address,
except that redemption notices may be mailed more than 60 days prior to a redemption date if the
notice is issued in connection with a defeasance of the Notes or a satisfaction and discharge of
this Indenture pursuant to Articles 8 or 10 hereof.

     The notice will identify the Notes to be redeemed and will state:

     (1) the redemption date;

     (2) the redemption price;

     (3) if any Note is being redeemed in part, the portion of the principal amount of such
Note to be redeemed and that, after the redemption date upon surrender of such Note, a new
Note or Notes in principal amount equal to the unredeemed portion will be issued upon
cancellation of the original Note;

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     (4) the name and address of the Paying Agent;

     (5) that Notes called for redemption must be surrendered to the Paying Agent to collect
the redemption price;

     (6) that, unless the Company defaults in making such redemption payment, interest on
Notes called for redemption ceases to accrue on and after the redemption date;

     (7) the paragraph of the Notes and/or Section of this Indenture pursuant to which the
Notes called for redemption are being redeemed; and

     (8) that no representation is made as to the correctness or accuracy of the CUSIP
number, if any, listed in such notice or printed on the Notes.

     At the Company’s request, the Trustee will give the notice of redemption in the Company’s name
and at its expense; provided, however, that the Company has delivered to the Trustee, at least 45
days prior to the redemption date unless the Trustee consents to a shorter period, an Officers’
Certificate requesting that the Trustee give such notice and setting forth the information to be
stated in such notice as provided in the preceding paragraph.

Section 3.04 Effect of Notice of Redemption.

     Once notice of redemption is mailed in accordance with Section 3.03 hereof, Notes called
for redemption become irrevocably due and payable on the redemption date at the redemption price.
A notice of redemption may not be conditional.

Section 3.05 Deposit of Redemption or Purchase Price.

     One Business Day prior to the redemption or purchase date, the Company will deposit with
the Trustee or with the Paying Agent money sufficient to pay the redemption or purchase price of
and accrued interest and Liquidated Damages, if any, on all Notes to be redeemed or purchased on
that date. The Trustee or the Paying Agent will promptly return to the Company any money deposited
with the Trustee or the Paying Agent by the Company in excess of the amounts necessary to pay the
redemption or purchase price of, and accrued interest and Liquidated Damages, if any, on, all Notes
to be redeemed or purchased.

     If the Company complies with the provisions of the preceding paragraph, on and after the
redemption or purchase date, interest will cease to accrue on the Notes or the portions of Notes
called for redemption or purchase. If a Note is redeemed or purchased on or after an interest
record date but on or prior to the related interest payment date, then any accrued and unpaid
interest shall be paid to the Person in whose name such Note was registered at the close of
business on such record date. If any Note called for redemption or purchase is not so paid upon
surrender for redemption or purchase because of the failure of the Company to comply with the
preceding paragraph, interest shall be paid on the unpaid principal, from the redemption or
purchase date until such principal is paid, and to the extent lawful on any interest not paid on
such unpaid principal, in each case at the rate provided in the Notes and in Section 4.01 hereof.

Section 3.06 Notes Redeemed or Purchased in Part.

     Upon surrender of a Note that is redeemed or purchased in part, the Company will issue
and, upon receipt of an Authentication Order, the Trustee will authenticate for the Holder at the
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Company a new Note equal in principal amount to the unredeemed or unpurchased portion of the
Note surrendered.

Section 3.07 Optional Redemption.

     (a) At any time prior to July 19, 2008, the Company may, on any one or more occasions,
redeem up to 35% of the aggregate principal amount of Notes issued under this Indenture (including
the issuance of any Additional Notes hereunder) at a redemption price of 107.5% of the principal
amount thereof, plus accrued and unpaid interest and Liquidated Damages, if any, to the redemption
date, with the net cash proceeds of one or more sales of common Equity Interests (other than
Disqualified Stock) of the Company; provided that:

     (1) at least 65% of the aggregate principal amount of Notes originally issued under
this Indenture (excluding Notes held by the Company and its Subsidiaries) remains
outstanding immediately after the occurrence of such redemption; and

     (2) the redemption occurs within 90 days of the date of the closing of such sale of
Equity Interests.

     (b) Except pursuant to the preceding paragraph and paragraphs (c) and (d) below, the Notes
will not be redeemable at the Company’s option prior to July 19, 2010.

     Unless the Company defaults in the payment of the redemption price, interest will cease to
accrue on the Notes or portions thereof called for redemption on the applicable redemption date.

     (c) At any time prior to July 19, 2010, the Company may also redeem all or a part of
the Notes, upon not less than 30 nor more than 60 days’ prior notice mailed by first-class mail to
each Holder’s registered address, at a redemption price equal to 100% of the principal amount of
Notes redeemed plus the Applicable Premium as of, and accrued and unpaid interest and Liquidated
Damages, if any, to the applicable date of redemption, subject to the rights of Holders on the
relevant record date to receive interest due on the relevant interest payment date.

     (d) If, as a result of:

(1) any amendment after the date of this Indenture to, or change after the date of this
Indenture in, the laws or regulations of any Relevant Jurisdiction, or

(2) any change after the date of this Indenture in the general application or general or
official interpretation of the laws or regulations of any Relevant Jurisdiction applicable
to the Company,

the Company would be obligated to pay, on the next date for any payment and as a result of that
change, Additional Amounts as described in Section 4.20 hereof with respect to the Relevant
Jurisdiction, which the Company cannot avoid by the use of reasonable measures available to it,
then the Company may redeem all, but not less than all, of the Notes, at any time thereafter, upon
not less than 30 nor more than 60 days’ notice, at a redemption price equal to 100% of the
principal amount of Notes redeemed, plus accrued interest and Liquidated Damages, if any, to the
redemption date. Prior to the giving of any notice of redemption described in this paragraph, the
Company will deliver to the Trustee an Officers’ Certificate stating that:

     (A) the obligation to pay such Additional Amounts cannot be avoided by the
Company taking reasonable measures available to it; and

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     (B) the Company has or will become obligated to pay such Additional Amounts as
a result of an amendment, change, or official application or interpretation
described above.

(e) Any redemption pursuant to this Section 3.07 shall be made pursuant to the provisions of
Sections 3.01 through 3.06 hereof.

Section 3.08 Mandatory Redemption.

     The Company is not required to make mandatory redemption or sinking fund payments with
respect to the Notes.

Section 3.09 Offer to Purchase by Application of Excess Proceeds.

     In the event that, pursuant to Section 4.10 hereof, the Company is required to commence
an offer to all Holders to purchase Notes (an “Asset Sale Offer”), it will follow the procedures
specified below.

     The Asset Sale Offer shall be made to all Holders and all holders of other Indebtedness that
is pari passu with the Notes containing provisions similar to those set forth in this Indenture
with respect to offers to purchase or redeem with the proceeds of sales of assets. The Asset Sale
Offer will remain open for a period of at least 20 Business Days following its commencement and not
more than 30 Business Days, except to the extent that a longer period is required by applicable law
(the “Offer Period”). No later than three Business Days after the termination of the Offer Period
(the “Purchase Date”), the Company will apply all Excess Proceeds (the
“Offer Amount”) to the
purchase of Notes and such other pari passu Indebtedness (on a pro rata basis, if applicable) or,
if less than the Offer Amount has been tendered, all Notes and other Indebtedness tendered in
response to the Asset Sale Offer. Payment for any Notes so purchased will be made in the same
manner as interest payments are made.

     If the Purchase Date is on or after an interest record date and on or before the related
interest payment date, any accrued and unpaid interest and Liquidated Damages, if any, will be paid
to the Person in whose name a Note is registered at the close of business on such record date, and
no additional interest will be payable to Holders who tender Notes pursuant to the Asset Sale
Offer.

     Upon the commencement of an Asset Sale Offer, the Company will send, by first class mail, a
notice to the Trustee and each of the Holders, with a copy to the Trustee. The notice will contain
all instructions and materials necessary to enable such Holders to tender Notes pursuant to the
Asset Sale Offer. The notice, which will govern the terms of the Asset Sale Offer, will state:

     (1) that the Asset Sale Offer is being made pursuant to this Section 3.09 and Section
4.10 hereof and the length of time the Asset Sale Offer will remain open;

     (2) the Offer Amount, the purchase price and the Purchase Date;

     (3) that any Note not tendered or accepted for payment will continue to accrue
interest;

     (4) that, unless the Company defaults in making such payment, any Note accepted for
payment pursuant to the Asset Sale Offer will cease to accrue interest after the Purchase
Date;

     (5) that Holders electing to have a Note purchased pursuant to an Asset Sale Offer may
elect to have Notes purchased in integral multiples of $1,000 only;

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     (6) that Holders electing to have Notes purchased pursuant to any Asset Sale Offer will
be required to surrender the Note, with the form entitled “Option of Holder to Elect
Purchase” attached to the Notes completed, or transfer by book-entry transfer, to the
Company, a Depositary, if appointed by the Company, or a Paying Agent at the address
specified in the notice at least three days before the Purchase Date;

     (7) that Holders will be entitled to withdraw their election if the Company, the
Depositary or the Paying Agent, as the case may be, receives, not later than the expiration
of the Offer Period, a telegram, telex, facsimile transmission or letter setting forth the
name of the Holder, the principal amount of the Note the Holder delivered for purchase and a
statement that such Holder is withdrawing his election to have such Note purchased;

     (8) that, if the aggregate principal amount of Notes and other pari passu Indebtedness
surrendered by holders thereof exceeds the Offer Amount, the Trustee will select the Notes
and other pari passu Indebtedness to be purchased on a pro rata basis based on the principal
amount of Notes and such other pari passu Indebtedness surrendered (with such adjustments as
may be deemed appropriate by the Trustee so that only Notes in denominations of $1,000, or
integral multiples thereof, will be purchased); and

     (9) that Holders whose Notes were purchased only in part will be issued new Notes equal
in principal amount to the unpurchased portion of the Notes surrendered (or transferred by
book-entry transfer), which unpurchased portion must be equal to $1,000 in principal amount
or an integral multiple thereof.

     On or before the Purchase Date, the Company will, to the extent lawful, accept for payment, on
a pro rata basis to the extent necessary, the Offer Amount of Notes or portions thereof tendered
pursuant to the Asset Sale Offer, or if less than the Offer Amount has been tendered, all Notes
tendered, and will deliver or cause to be delivered to the Trustee the Notes properly accepted
together with an Officers’ Certificate stating that such Notes or portions thereof were accepted
for payment by the Company in accordance with the terms of this Section 3.09. The Company, the
Depositary or the Paying Agent, as the case may be, will promptly (but in any case not later than
five Business Days after the Purchase Date) mail or deliver to each tendering Holder an amount
equal to the purchase price of the Notes tendered by such Holder and accepted by the Company for
purchase, and the Company will promptly issue a new Note, and the Trustee, upon written request
from the Company, will authenticate and mail or deliver (or cause to be transferred by book entry)
such new Note to such Holder, in a principal amount equal to any unpurchased portion of the Note
surrendered. Any Note not so accepted shall be promptly mailed or delivered by the Company to the
Holder thereof. The Company will publicly announce the results of the Asset Sale Offer on the
Purchase Date.

     Other than as specifically provided in this Section 3.09, any purchase pursuant to this
Section 3.09 shall be made pursuant to the provisions of Sections 3.01 through 3.06 hereof.

ARTICLE 4

COVENANTS

Section 4.01 Payment of Notes.

     The Company will pay or cause to be paid the principal of, premium, if any, and interest
and Liquidated Damages, if any, on, the Notes on the dates and in the manner provided in the Notes.
Principal, premium, if any, and interest and Liquidated Damages, if any, will be considered paid
on the date due if the Paying Agent, if other than the Company or a Subsidiary thereof, holds as of
10:00 a.m.

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Eastern Time on the due date money deposited by the Company in immediately available funds and
designated for and sufficient to pay all principal, premium, if any, and interest then due. The
Company will pay all Liquidated Damages, if any, in the same manner on the dates and in the amounts
set forth in the Registration Rights Agreement.

     The Company will pay interest (including post-petition interest in any proceeding under any
Bankruptcy Law) on overdue principal at the rate equal to 1% per annum in excess of the then
applicable interest rate on the Notes to the extent lawful; it will pay interest (including
post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of
interest and Liquidated Damages (without regard to any applicable grace period) at the same rate to
the extent lawful.

Section 4.02 Maintenance of Office or Agency.

     The Company will maintain in the Borough of Manhattan, the City of New York, an office or
agency (which may be an office of the Trustee or an affiliate of the Trustee, Registrar or
co-registrar) where Notes may be surrendered for registration of transfer or for exchange and where
notices and demands to or upon the Company in respect of the Notes and this Indenture may be
served. The Company will give prompt written notice to the Trustee of the location, and any change
in the location, of such office or agency. If at any time the Company fails to maintain any such
required office or agency or fails to furnish the Trustee with the address thereof, such
presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office
of the Trustee.

     The Company may also from time to time designate one or more other offices or agencies where
the Notes may be presented or surrendered for any or all such purposes and may from time to time
rescind such designations; provided, however, that no such designation or rescission will in any
manner relieve the Company of its obligation to maintain an office or agency in the Borough of
Manhattan, the City of New York for such purposes. The Company will give prompt written notice to
the Trustee of any such designation or rescission and of any change in the location of any such
other office or agency.

     The Company hereby designates the Corporate Trust Office of the Trustee as one such office or
agency of the Company in accordance with Section 2.03 hereof.

Section 4.03 Reports.

     (a) So long as any Notes are outstanding, the Company will furnish to the Holders of
Notes or cause the Trustee to furnish to the Holders of Notes at the expense of the Company, within
the time periods specified in the SEC’s rules and regulations:

     (1) all annual reports that would be required to be filed with or furnished to the SEC
on Form 20-F if the Company were required to file or furnish such reports;

     (2) all quarterly reports on Form 6-K whether or not the Company is required to file or
furnish such reports to the SEC; and

     (3) all current reports that would be required to be filed with or furnished to the SEC
on Form 6-K if the Company were required to file or furnish such reports.

          All such reports will be prepared in all material respects in accordance with all of the rules
and regulations applicable to such reports. Each annual report on Form 20-F referred to in clause
(1) above will include a report on the Company’s consolidated financial statements by the Company’s
certified independent accountants. Each quarterly report on Form 6-K referred to in clause (2)
above will

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include the Company’s consolidated balance sheet and consolidated income statement and will be
furnished by the Company to the Holders of Notes (or the Company will cause the Trustee to furnish
to the Holders of Notes) and will be furnished to the SEC within 45 days following the end of the
first, second and third fiscal quarter of each fiscal year. In addition, the Company will file a
copy of each of the reports referred to in clauses (1) and (3) above with the SEC for public
availability within the time periods specified in the rules and regulations applicable to such
reports (unless the SEC will not accept such a filing) and will post the reports on its website
within those time periods.

          If, at any time, the Company is no longer subject to the periodic reporting requirements of
the Exchange Act for any reason, the Company will nevertheless continue filing the reports
specified in this Section 4.03 with the SEC within the time periods specified above unless the SEC
will not accept such a filing. The Company will not take any action for the purpose of causing the
SEC not to accept any such filings. If, notwithstanding the foregoing, the SEC will not accept the
Company’s filings for any reason, the Company will post the reports referred to in the preceding
paragraphs on its website within the time periods that would apply if the Company were required to
file those reports with the SEC.

     (b) In addition, the Company agrees that, for so long as any Notes remain
outstanding, if at any time the Company is not required to file with the SEC the reports required
by this Section 4.03, it will furnish to the Holders of Notes and to securities analysts and
prospective investors, upon their request, the information required to be delivered pursuant to
Rule 144A(d)(4) under the Securities Act.

          Delivery of reports and information under this Section 4.03 to the Trustee is for
informational purposes only and the Trustee’s receipt of such reports and information shall not
constitute constructive notice of any such information.

Section 4.04 Compliance Certificate.

     (a) The Company shall, and shall cause each Guarantor (to the extent that such Guarantor
is so required under the TIA) to, deliver to the Trustee, within 120 days after the end of each
fiscal year, an Officers’ Certificate stating that a review of the activities of the Company and
its Subsidiaries during the preceding fiscal year has been made under the supervision of the
signing Officers with a view to determining whether the Company has kept, observed, performed and
fulfilled its obligations under this Indenture and the Subsidiary Guarantee Agreement, and further
stating, as to each such Officer signing such certificate, that to the best of his or her knowledge
the Company has kept, observed, performed and fulfilled each and every covenant contained in this
Indenture and is not in default in the performance or observance of any of the terms, provisions
and conditions of this Indenture (or, if a Default or Event of Default has occurred, describing all
such Defaults or Events of Default of which he or she may have knowledge and what action the
Company is taking or proposes to take with respect thereto) and that to the best of his or her
knowledge no event has occurred and remains in existence by reason of which payments on account of
the principal of or interest, if any, on the Notes is prohibited or if such event has occurred, a
description of the event and what action the Company is taking or proposes to take with respect
thereto.

     (b) So long as any of the Notes are outstanding, the Company will deliver to the
Trustee, forthwith upon any Officer becoming aware of any Default or Event of Default, an Officers’
Certificate specifying such Default or Event of Default and what action the Company is taking or
proposes to take with respect thereto.

Section 4.05 Taxes.

     The Company will pay, and will cause each of its Subsidiaries to pay, prior to
delinquency, all material taxes, assessments, and governmental levies except such as are contested
in good faith and by

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appropriate proceedings or where the failure to effect such payment is not adverse in any
material respect to the Holders of the Notes.

Section 4.06 Stay, Extension and Usury Laws.

     The Company covenants (to the extent that it may lawfully do so) that it will not, and
will cause each of the Guarantors not to, at any time insist upon, plead, or in any manner
whatsoever claim or take the benefit or advantage of, any stay, extension or usury law wherever
enacted, now or at any time hereafter in force, that may affect the covenants or the performance of
this Indenture or the Subsidiary Guarantee Agreement; and the Company, on behalf of itself and each
of the Guarantors (to the extent that it may lawfully do so), hereby expressly waives all benefit
or advantage of any such law, and covenants that it will not, by resort to any such law, hinder,
delay or impede the execution of any power herein granted to the Trustee, but will suffer and
permit the execution of every such power as though no such law has been enacted.

Section 4.07 Restricted Payments.

     (a) The Company shall not, and shall not permit any Restricted Subsidiary, directly or
indirectly, to make a Restricted Payment if at the time that the Company or the Restricted
Subsidiary makes the Restricted Payment:

     (1) a Default shall have occurred and be continuing (or would result as a result of
making the Restricted Payment);

     (2) the Company is not able to Incur an additional $1.00 of Indebtedness under clause
(a) of Section 4.09 hereof; or

     (3) the aggregate amount of the Restricted Payment and all other Restricted Payments
since the Issue Date would exceed the sum, without duplication, of:

     (A) 50% of the Consolidated Net Income accrued during the period, treated as
one accounting period, from the beginning of the fiscal quarter immediately
following the fiscal quarter during which the Notes are originally issued to the end
of the most recent fiscal quarter for which internal financial statements are
available on or prior to the date of the Restricted Payment, or, in case
Consolidated Net Income shall be a deficit, minus 100% of the deficit;

     (B) the aggregate Net Cash Proceeds received by the Company from the issuance
or sale of, or capital contribution relating to, its Capital Stock, other than
Disqualified Stock, subsequent to the Issue Date, other than an issuance or sale to
a Subsidiary of the Company and other than an issuance or sale to an employee stock
ownership plan or to a trust established by the Company or any of its Subsidiaries
for the benefit of employees to the extent that the purchase by the plan or trust is
financed by Indebtedness of the plan or trust to the Company or any of its
Subsidiaries or Indebtedness guaranteed by the Company or any of its Subsidiaries,
and the Fair Market Value of property, other than cash that would constitute
Temporary Cash Investments or a Related Business, received by the Company or a
Restricted Subsidiary subsequent to the Issue Date as a contribution to its common
equity capital, other than from a Subsidiary of the Company or that was financed
with loans from the Company or any Restricted Subsidiary;

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     (C) the amount by which Indebtedness of the Company or any Restricted
Subsidiary is reduced on the Company’s consolidated balance sheet upon the
conversion or exchange, other than by a Subsidiary of the Company subsequent to the
Issue Date, of any Indebtedness of the Company or any Restricted Subsidiary
convertible or exchangeable for the Company’s Capital Stock, other than Disqualified
Stock, less the amount of any cash, or the Fair Market Value of any other property,
distributed by the Company or any Restricted Subsidiary upon the conversion or
exchange; and

     (D) an amount equal to the sum of (i) the net reduction in Investments in any
Person resulting from dividends, repayments of loans or advances or other transfers
of assets subsequent to the Issue Date, in each case, to the Company or any
Restricted Subsidiary from the Person, and (ii) the portion, proportionate to the
Company’s equity interest in the Subsidiary, of the Fair Market Value of the net
assets of an Unrestricted Subsidiary at the time the Unrestricted Subsidiary is
designated a Restricted Subsidiary; provided, however, that this sum shall not
exceed, in the case of any Person, the amount of Investments previously made, and
treated as a Restricted Payment, by the Company or any Restricted Subsidiary in the
Person.

     (b) The provisions of clause (a) of this Section 4.07 shall not prohibit:

     (1) any Restricted Payment made by exchange for, or out of the proceeds of the
substantially concurrent sale of, or capital contribution relating to, Capital Stock of the
Company, other than Disqualified Stock and other than Capital Stock issued or sold to a
Subsidiary of the Company or an employee stock ownership plan or to a trust established by
the Company or any of its Subsidiaries for the benefit of employees to the extent that the
purchase by the plan or trust is financed by Indebtedness of the plan or trust to the
Company or any of its Subsidiaries or Indebtedness Guaranteed by the Company or any of its
Subsidiaries; provided, however, that (A) the Restricted Payment shall be excluded in the
calculation of the amount of Restricted Payments and (B) the Net Cash Proceeds from the sale
shall be excluded from the calculation of amounts under clause (a)(3)(B) of this Section
4.07;

     (2) any purchase, repurchase, redemption, defeasance or other acquisition or retirement
for value of Subordinated Obligations made by exchange for, or out of the proceeds of the
substantially concurrent sale of, Indebtedness which is permitted to be Incurred under
Section 4.09 hereof; provided, however, that the purchase, repurchase, redemption,
defeasance or other acquisition or retirement for value shall be excluded in the calculation
of the amount of Restricted Payments;

     (3) any purchase or redemption of Disqualified Stock of the Company or a Restricted
Subsidiary made by exchange for, or out of the proceeds of the substantially concurrent sale
of, Disqualified Stock of the Company or a Restricted Subsidiary which is permitted to be
Incurred under Section 4.09 hereof; provided, however, that the purchase or redemption shall
be excluded in the calculation of the amount of Restricted Payments;

     (4) any purchase or redemption of Subordinated Obligations from Net Proceeds upon
completion of an Asset Sale Offer to the extent permitted by Section 4.10 hereof; provided,
however, that the purchase or redemption shall be excluded in the calculation of the amount
of Restricted Payments;

     (5) upon the occurrence of a Change of Control and within 60 days after the completion
of the offer to repurchase the Notes under Section 4.15 hereof, including the purchase of
the

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Notes tendered, any purchase or redemption of Subordinated Obligations required under
the terms of the Subordinated Obligations as a result of the Change of Control at a purchase
or redemption price not to exceed the outstanding principal amount of the Subordinated
Obligations, plus any accrued and unpaid interest; provided, however, that

     (A) at the time of the purchase or redemption no Default shall have occurred
and be continuing or would result from the purchase or redemption;

     (B) the Company would be able to Incur an additional $1.00 of Indebtedness
under clause (a) of Section 4.09 hereof after giving pro forma effect to the
Restricted Payment; and

     (C) the purchase or redemption shall be included in the calculation of the
amount of Restricted Payments.

     (6) dividends paid within 60 days after the date of declaration of the dividends if, at
the date of declaration, the dividends would have complied with this Section 4.07; provided,
however, that the dividends shall be included in the calculation of the amount of Restricted
Payments;

     (7) the repurchase or other acquisition of shares of, or options to purchase shares of,
common stock of the Company or any of its Subsidiaries from employees, former employees,
consultants, former consultants, directors or former directors of the Company or any of its
Subsidiaries, or permitted transferees of these employees, former employees, consultants,
former consultants, directors or former directors), under the terms of the agreements,
including employment and consulting agreements, or plans, or amendments approved by the
Board of Directors of the Company under which these individuals purchase or sell or are
granted the option to purchase or sell, shares of the common stock; provided, however, that
the aggregate amount of the repurchases shall not exceed the sum of:

     (A) $5.0 million;

     (B) the Net Cash Proceeds from the sale of Capital Stock to members of
management or directors of the Company and its Subsidiaries that occurs after the
Issue Date, to the extent the Net Cash Proceeds from the sale have not otherwise
been applied to the payment of Restricted Payments by virtue of clause (a)(3)(B) of
this Section 4.07; and

     (C) the cash proceeds of any “key man” life insurance policies that are used to
make the repurchases;

provided, further, that (i) the repurchases shall be excluded in the calculation of the amount of
Restricted Payments and (ii) the Net Cash Proceeds from the sale shall be excluded from the
calculation of amounts under clause (a)(3)(B) of this Section 4.07.

     (8) repurchases of Capital Stock deemed to occur upon the exercise of stock options if
the Capital Stock represents a portion of the exercise price of the stock options; provided,
however, that the payments shall be excluded in the calculation of the amount of Restricted
Payments;

     (9) payments not to exceed $200,000 in the aggregate solely to enable the Company to
make payments to holders of its Capital Stock in lieu of the issuance of fractional shares
of its

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Capital Stock; provided, however, that the payments shall be excluded in the
calculation of the amount of Restricted Payments;

     (10) Restricted Payments not to exceed $30.0 million payable on Capital Stock,
including Disqualified Stock, issued to customers, clients, suppliers or purchasers or
sellers of goods or services of the Company or a Restricted Subsidiary in connection with a
strategic investment in the Company or a Restricted Subsidiary by the customers, clients,
suppliers or purchasers or sellers of goods or services; provided, however, that the
payments shall be included in the calculation of the amount of Restricted Payments;

     (11) Restricted Payments not exceeding $30.0 million in the aggregate for any purchase,
repurchase, redemption, defeasance or other acquisition or retirement for value of
Subordinated Obligations; provided, however, that (A) at the time of the Restricted
Payments, no Default shall have occurred and be continuing or result from the Restricted
Payments, and (B) the Restricted Payments shall be included in the calculation of the amount
of Restricted Payments;

     (12) the distribution, as a dividend or otherwise, of shares of Capital Stock or assets
of an Unrestricted Subsidiary, provided that the Fair Market Value of the shares of Capital
Stock or assets shall not exceed the amount of the Investments that were made, and not
subsequently reduced under clause (a)(3)(D) of this section 4.07, by the Company in the
Unrestricted Subsidiary and were treated as Restricted Payments or were included in the
calculation of the amount of Restricted Payments previously made; provided, however, that
(A) the distributions shall be excluded in the calculation of the amount of Restricted
Payments and (B) any net reduction in Investments in the Unrestricted Subsidiary resulting
from the distribution shall be excluded from the calculation of amounts under clause
(a)(3)(D) of this Section 4.07; or

     (13) Restricted Payments not exceeding $15.0 million in the aggregate; provided,
however, that (A) at the time of the Restricted Payments, no Default shall have occurred and
be continuing or result from the Restricted Payments and (B) the Restricted Payments shall
be included in the calculation of the amount of Restricted Payments.

Section 4.08 Limitations on Restrictions on Distributions from Restricted Subsidiaries.

     The Company shall not, and shall not permit any Restricted Subsidiary to, create or
otherwise cause or permit to exist or become effective any consensual encumbrance or restriction on
the ability of any Restricted Subsidiary to (a) pay dividends or make any other distributions on
its Capital Stock to the Company or any Restricted Subsidiary or pay any Indebtedness owed to the
Company or any Restricted Subsidiary, (b) make any loans or advances to the Company or any
Restricted Subsidiary or (c) transfer any of its property or assets to the Company or any
Restricted Subsidiary, except:

     (1) any encumbrance or restriction under an agreement in effect at or entered into on
the Issue Date, including this Indenture, the Notes and the Note Guarantees;

     (2) any encumbrance or restriction relating to a Restricted Subsidiary under an
agreement relating to any Indebtedness Incurred by the Restricted Subsidiary on or prior to
the date on which the Restricted Subsidiary was acquired by the Company, other than
Indebtedness Incurred as consideration in, or to provide all or any portion of the funds or
credit support utilized to consummate, the transaction or series of related transactions
where the Restricted Subsidiary became a Restricted Subsidiary or was acquired by the
Company, and outstanding on that date;

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     (3) any encumbrance or restriction under an agreement (A) evidencing Indebtedness
Incurred without violation of this Indenture or (B) effecting a Refinancing of Indebtedness
Incurred under an agreement referred to in clause (1) or (2) of this Section 4.08 or this
clause (3) or contained in any amendment to an agreement referred to in clause (1) or (2) of
this Section 4.08 or this clause (3); provided, however, that in the case of clauses (A) and
(B), the encumbrances and restrictions relating to the Restricted Subsidiary contained in
such Indebtedness, refinancing agreement or amendment are, in the good faith judgment of the
Board of Directors of the Company, no more restrictive in any material respect than the
encumbrances and restrictions relating to the Restricted Subsidiary contained in agreements
of the Restricted Subsidiary in effect at, or entered into on, the Issue Date;

     (4) any encumbrance or restriction consisting of customary non-assignment provisions in
leases governing leasehold interests to the extent the provisions restrict the transfer of
the lease or the property leased thereunder or in licenses entered into in the ordinary
course of business to the extent the licenses restrict the transfer of the license or the
property licensed under the license;

     (5) in the case of clause (c) of the first paragraph of this Section 4.08, restrictions
contained in security agreements (including Capital Lease Obligations) or mortgages securing
Indebtedness of a Restricted Subsidiary so long as the restrictions solely restrict the
transfer of the property governed by the security agreements or mortgages;

     (6) restrictions on the transfer of assets under any Lien permitted under this
Indenture imposed by the holder of the Lien;

     (7) purchase money obligations for property acquired in the ordinary course of business
that impose restrictions on the property so acquired of the nature described in clause (c)
of the first paragraph of this Section 4.08;

     (8) provisions relating to the disposition or distribution of assets or property in
joint venture agreements and other similar agreements entered into in the ordinary course of
business;

     (9) any restriction relating to a Restricted Subsidiary imposed under an agreement
entered into for the sale or disposition of all or substantially all the Capital Stock or
assets of the Restricted Subsidiary pending the closing of the sale or disposition;

     (10) any restriction arising under applicable law, regulation or order;

     (11) any agreement or instrument governing Capital Stock, other than Disqualified
Stock, of any Person that is in effect on the date the Person is acquired by the Company or
a Restricted Subsidiary;

     (12) any restriction on cash or other deposits or net worth imposed by customers under
contracts entered into in the ordinary course of business;

     (13) any encumbrance or restriction under an agreement evidencing Indebtedness incurred
pursuant to clause (b)(9) of Section 4.09 hereof that is reasonable and customary for the
type of Indebtedness incurred pursuant to clause (b)(9) of Section 4.09; and

     (14) customary provisions in joint venture agreements entered into with the approval of
the Company’s Board of Directors; provided, however, that (i) such encumbrance or
restriction is applicable only to the assets of such Restricted Subsidiary that are the
subject of such agreement,

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(ii) the encumbrance or restriction is not materially more disadvantageous to the
Holders of the Notes than is customary in comparable agreements and (iii) the Company
reasonably determines that any such encumbrance or restriction will not materially affect
its ability to make any anticipated principal or interest payments on the Notes.

Section 4.09 Limitation on Indebtedness.

     (a) The Company shall not, and shall not permit any Restricted Subsidiary to, Incur,
directly or indirectly, any Indebtedness, except that the Company may Incur Indebtedness if, after
giving pro forma effect to the Incurrence, the Consolidated Coverage Ratio exceeds 2.0 to 1.0.

     (b) Notwithstanding the provisions of clause (a) of this Section 4.09, the Company
and its Restricted Subsidiaries may Incur the following Indebtedness:

     (1) Indebtedness of the Company or any Guarantor Incurred under any Credit Facilities;
provided, however, that, immediately after giving effect to the Incurrence, the aggregate
principal amount of all Indebtedness incurred under this clause (1) and then outstanding
does not exceed the greater of (A) $100.0 million and (B) the sum of (x) $20.0 million, (y)
50% of the book value of the inventory of the Company and that of the Restricted
Subsidiaries and (z) 80% of the book value of the accounts receivables of the Company and
that of the Restricted Subsidiaries; provided, further, that the Indebtedness may only be
Incurred by a Restricted Subsidiary that is a Guarantor if the Indebtedness, when added
together with the amount of all other Indebtedness Incurred by Restricted Subsidiaries that
are Guarantors under this clause (1) and then outstanding, does not exceed an amount equal
to 50% of the greater of (x) the amount in clause (A) above and (y) the amount determined in
clause (B) above;

     (2) Indebtedness of the Company or any Restricted Subsidiary owed to and held by the
Company or a Guarantor; provided, however, that any subsequent issuance or transfer of any
Capital Stock which results in a Restricted Subsidiary ceasing to be a Restricted Subsidiary
or any subsequent transfer of the Indebtedness (other than to the Company or another
Restricted Subsidiary) will be considered, in each case, to constitute the Incurrence of the
Indebtedness by the issuer of that Indebtedness;

     (3) Indebtedness consisting of the Notes and the Exchange Notes, other than additional
notes which may be issued by STATS ChipPAC from time to time under the Indenture;

     (4) Indebtedness outstanding on the Issue Date, other than Indebtedness described in
clause (1), (2), (3), (7), (8), (9) or (14) of this paragraph (b);

     (5) Refinancing Indebtedness relating to Indebtedness Incurred under paragraph (a) or
under clause (2), (3), (4), (6) or this clause (5) of this paragraph (b); provided, however,
that to the extent the Refinancing Indebtedness directly or indirectly Refinances
Indebtedness of a Subsidiary Incurred under clause (6) of this paragraph (b), the
Refinancing Indebtedness shall be Incurred only by that Subsidiary;

     (6) Indebtedness of a Person Incurred and outstanding on or prior to the date on which
the Person was acquired by the Company or a Restricted Subsidiary, other than Indebtedness
Incurred in anticipation of, in connection with, or to provide all or any portion of the
funds or credit support utilized to consummate, the transaction or series of related
transactions where the Person was acquired by the Company or a Restricted Subsidiary;
provided, however, that after giving pro forma effect to the transaction or series of
related transactions, (a) the Consolidated

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Coverage Ratio increases as a consequence of the incurrence and related acquisition and
(b) the Consolidated Coverage Ratio is at least 1.5 to 1.0;

     (7) Indebtedness of STATS ChipPAC Korea in an amount not to exceed $20.0 million in the
aggregate;

     (8) Indebtedness of STATS ChipPAC Malaysia in an amount not to exceed $1.0 million in
the aggregate;

     (9) Indebtedness of STATS ChipPAC China in an amount not to exceed $30.0 million
aggregate principal amount;

     (10) Hedging Obligations of the Company or any Restricted Subsidiary under Interest
Rate Agreements and Currency Agreements entered into in the ordinary course of business and
not for the purpose of speculation;

     (11) Indebtedness of the Company or any Restricted Subsidiary in the form of
performance bonds, completion guarantees and surety or appeal bonds entered into by the
Company and the Restricted Subsidiaries in the ordinary course of their business;

     (12) Indebtedness consisting of the Note Guarantees and Guarantees of other
Indebtedness otherwise permitted under this Indenture;

     (13) Indebtedness of the Company or any Restricted Subsidiary arising from the honoring
by a bank or other financial institution of a check, draft or similar instrument
inadvertently (except in the case of daylight overdrafts) drawn against insufficient funds
in the ordinary course of business, provided that the Indebtedness is satisfied within five
business days of Incurrence;

     (14) Indebtedness, including Capital Lease Obligations, Incurred by the Company or any
of the Guarantors to finance the purchase, lease or improvement of real or personal property
or equipment, whether through the direct purchase of assets or the Capital Stock of any
Person owning the assets, in an aggregate principal amount which, when added together with
the amount of Indebtedness Incurred under this clause (14) and then outstanding, does not
exceed the greater of (A) $50.0 million and (B) 5% of Total Assets (in each case including
any Refinancing Indebtedness of that Indebtedness);

     (15) Indebtedness Incurred by the Company or any of the Restricted Subsidiaries
constituting reimbursement obligations under letters of credit issued in the ordinary course
of business including, without limitation, letters of credit to procure raw materials, or
relating to workers’ compensation claims or self-insurance, or other Indebtedness relating
to reimbursement-type obligations regarding workers’ compensation claims;

     (16) Indebtedness of the Company issued to any of its directors, employees, officers or
consultants or a Restricted Subsidiary in connection with the redemption or purchase of
Capital Stock that, by its terms, is subordinated to the Notes, is not secured by any of the
assets of the Company or the Restricted Subsidiaries and does not require cash payments
prior to the Stated Maturity of the Notes and Refinancing Indebtedness of that Indebtedness,
in an aggregate principal amount which, when added together with the amount of Indebtedness
Incurred under this clause (16) and then outstanding, does not exceed $5.0 million;

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     (17) Indebtedness arising from agreements of the Company or a Restricted Subsidiary
providing for indemnification, adjustment of purchase price, earn-out or other similar
obligations, in each case, incurred or assumed in connection with the disposition of any
business, assets or a Restricted Subsidiary of the Company, other than guarantees of
Indebtedness incurred by any Person acquiring all or any portion of the business, assets or
Restricted Subsidiary for the purpose of financing the acquisition; provided that the
maximum assumable liability of all the Indebtedness shall at no time exceed the gross
proceeds actually received by the Company and the Restricted Subsidiaries in connection with
the disposition; and

     (18) Indebtedness of the Company or a Guarantor in an aggregate principal amount which,
together with all other Indebtedness of the Company and the Guarantors outstanding on the
date of Incurrence (other than Indebtedness permitted by clauses (1) through (17) above or
paragraph (a) above) does not exceed $40.0 million.

     (c) Notwithstanding this provision, the Company shall not, and shall not permit any
Restricted Subsidiary to, Incur any Refinancing Indebtedness under the prior paragraph (b) if the
proceeds from the Refinancing Indebtedness are used, directly or indirectly, to Refinance any
Subordinated Obligations unless the Indebtedness shall be subordinated to the Notes or the relevant
Note Guarantee, as applicable, to at least the same extent as the Subordinated Obligations.

     (d) For purposes of determining compliance with this Section 4.09,

     (1) if an item of Indebtedness meets the criteria of more than one of the types of
Indebtedness described above, the Company, in its sole discretion, will classify the item of
Indebtedness at the time of its Incurrence, or later reclassify all or a portion of such
Indebtedness in any manner that complies with this Indenture, and only be required to
include the amount and type of the Indebtedness in one of the above clauses; and

     (2) an item of Indebtedness may be divided and classified in more than one of the types
of Indebtedness described above.

     (e) Notwithstanding paragraphs (a) and (b) above, the Company shall not, and shall
not permit any Guarantor to, Incur any Indebtedness that is contractually subordinated in right of
payment to any other Indebtedness of the Company or such Guarantor unless such Indebtedness is also
contractually subordinated in right of payment to the Notes and the applicable Note Guarantee on
substantially identical terms; provided, however, that no Indebtedness will be deemed to be
contractually subordinated in right of payment to any other Indebtedness of the Company solely by
virtue of being unsecured or by virtue of being secured on a first or junior Lien basis.

     (f) For purposes of determining compliance with any U.S. dollar denominated
restriction on the Limitation on Indebtedness where the Indebtedness Incurred is denominated in a
different currency, the amount of the Indebtedness will be the U.S. Dollar Equivalent determined on
the date of the Incurrence of the Indebtedness, provided, however, that if any of the Indebtedness
denominated in a different currency is governed by a Currency Agreement relating to U.S. dollars,
covering all principal, premium, if any, and interest payable on the Indebtedness, the amount of
Indebtedness expressed in U.S. dollars will be as provided in the Currency Agreement. The
principal amount of any Refinancing Indebtedness Incurred in the same currency as the Indebtedness
being Refinanced will be the U.S. Dollar Equivalent of the Indebtedness Refinanced, except to the
extent that (i) the U.S. Dollar Equivalent was determined based on a Currency Agreement, in which
case the Refinancing Indebtedness will be determined compliance the preceding sentence, and (ii)
the principal amount of the Refinancing Indebtedness exceeds the principal

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amount of the Indebtedness being Refinanced, in which case the U.S. Dollar Equivalent of the
excess will be determined on the date the Refinancing Indebtedness is Incurred.

Section 4.10 Asset Sales.

     The Company will not, and will not permit any of its Restricted Subsidiaries to,
consummate an Asset Sale unless:

     (1) the Company (or the Restricted Subsidiary, as the case may be) receives
consideration at the time of the Asset Sale at least equal to the Fair Market Value of the
assets or Equity Interests issued or sold or otherwise disposed of; and

     (2) at least 75% of the consideration received in the Asset Sale by the Company or such
Restricted Subsidiary is in the form of cash. For purposes of this provision, each of the
following will be deemed to be cash:

     (A) any liabilities, as shown on the Company’s most recent consolidated balance
sheet, of the Company or any Restricted Subsidiary (other than contingent
liabilities and liabilities that are by their terms subordinated to the Notes or any
Note Guarantor) that are assumed by the transferee of any such assets pursuant to a
customary novation agreement that releases the Company or such Restricted Subsidiary
from further liability;

     (B) any securities, notes or other obligations received by the Company or any
such Restricted Subsidiary from such transferee that are contemporaneously, subject
to ordinary settlement periods, converted by the Company or such Restricted
Subsidiary into cash, to the extent of the cash received in that conversion; and

     (C) any stock or assets of the kind referred to in clauses (2) or (4) of the
next paragraph of this Section 4.10;

provided that the 75% limitation referred to in clause (2) above will not apply to any Asset Sale
if the after-tax cash proceeds received therefrom, as determined in good faith by the Company’s
Board of Directors, is equal to or greater than what the after-tax cash proceeds would have been
had the Asset Sale complied with the aforementioned 75% limitation.

     Within 360 days after the receipt of any Net Proceeds from an Asset Sale, the Company (or the
applicable Restricted Subsidiary, as the case may be) may apply such Net Proceeds:

     (1) to repay Specified Senior Indebtedness of the Company or Indebtedness (other than
Disqualified Stock) of any Restricted Subsidiary (in each case other than Indebtedness owed
to the Company or an Affiliate thereof) and, if any such Indebtedness repaid is revolving
credit Indebtedness, to correspondingly reduce commitments with respect thereto;

     (2) to acquire all or substantially all of the assets of, or any Capital Stock of,
another Related Business, if, after giving effect to any such acquisition of Capital Stock
(including the acquisition of a minority interest in) the Related Business is or becomes a
Restricted Subsidiary of the Company;

     (3) to make a capital expenditure; or

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     (4) to acquire other assets that are not classified as current assets under U.S. GAAP
and that are used or useful in a Related Business;

provided, however, that if the Company or any Restricted Subsidiary contractually commits within
such 360-day period to apply such Net Proceeds within one year of such contractual commitment in
accordance with the above clauses (2), (3) or (4), subject to only customary conditions which shall
not include a financing condition, and such Net Proceeds are subsequently applied as contemplated
in such contractual commitment, then the requirement for the application of Net Proceeds set forth
in this paragraph shall be considered satisfied.

     Pending the final application of any Net Proceeds, the Company may temporarily reduce
revolving credit borrowings or otherwise invest the Net Proceeds in any manner that is not
prohibited by this Indenture.

     Any Net Proceeds from Asset Sales that are not applied or invested as provided in the second
paragraph of this Section 4.10 will constitute “Excess Proceeds.” On the 365(th) day after an
Asset Sale, if the aggregate amount of Excess Proceeds exceeds $10.0 million, the Company will make
an Asset Sale Offer to all Holders of Notes and all holders of other Indebtedness that is pari
passu with the Notes containing provisions similar to those set forth in this Indenture with
respect to offers to purchase or redeem with the proceeds of sales of assets to purchase the
maximum principal amount of Notes and such other pari passu Indebtedness that may be purchased out
of the Excess Proceeds. The offer price in any Asset Sale Offer will be equal to 100% of the
principal amount plus accrued and unpaid interest and Liquidated Damages, if any, to the date of
purchase, and will be payable in cash. If any Excess Proceeds remain after consummation of an
Asset Sale Offer, the Company may use those Excess Proceeds for any purpose not otherwise
prohibited by this Indenture. If the aggregate principal amount of Notes and other pari passu
Indebtedness tendered into such Asset Sale Offer exceeds the amount of Excess Proceeds, the Trustee
will select the Notes and such other pari passu Indebtedness to be purchased on a pro rata basis.
Upon completion of each Asset Sale Offer, the amount of Excess Proceeds will be reset at zero.

     The Company will comply with the requirements of Rule 14e-1 under the Exchange Act and any
other securities laws and regulations thereunder to the extent those laws and regulations are
applicable in connection with each repurchase of Notes pursuant to an Asset Sale Offer. To the
extent that the provisions of any securities laws or regulations conflict with the Asset Sale
provisions of this Indenture, the Company will comply with the applicable securities laws and
regulations and will not be deemed to have breached its obligations under the Asset Sale provisions
of this Indenture by virtue of such compliance.

Section 4.11 Transactions with Affiliates.

     (a) The Company shall not, and shall not permit any Restricted Subsidiary to, enter into
or permit to exist any transaction, including the purchase, sale, lease or exchange of any
property, employee compensation arrangements or the rendering of any service, with any Affiliate of
the Company (an “Affiliate Transaction”) unless the terms of that transaction:

     (1) are no less favorable to the Company or the Restricted Subsidiary than those that
could be obtained at the time of the transaction in arm’s-length dealings with a Person who
is not an Affiliate;

     (2) if the Affiliate Transaction involves an amount in excess of $10.0 million, have
been approved by a majority of the disinterested members of the Board of Directors of the
Company; and

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     (3) if the Affiliate Transaction involves an amount in excess of $20.0 million, have
been determined by (A) a nationally recognized investment banking firm to be fair, from a
financial standpoint, to the Company and the Restricted Subsidiaries or (B) an accounting or
appraisal firm nationally recognized in making determinations of this kind to be on terms
that are not less favorable to the Company and the Restricted Subsidiaries than the terms
that could be obtained in an arms-length transaction from a Person that is not an Affiliate;
provided, however, that this clause (3) shall not apply to any transaction that is an
Affiliate Transaction solely because another party to such transaction is deemed an
Affiliate of the Company through its direct or indirect relationship with any Permitted
Holder.

     (b) The provisions of the prior paragraph (a) shall not prohibit:

     (1) any Restricted Payment permitted to be paid under Section 4.07 hereof;

     (2) any issuance of securities, or other payments, awards or grants in cash, securities
or otherwise under, or the funding of, employment arrangements, stock options and stock
ownership plans approved by the Board of Directors of the Company;

     (3) the grant of stock options or similar rights to employees and directors of the
Company or those of the Restricted Subsidiaries under plans or agreements approved by the
Board of Directors of the Company;

     (4) loans or advances to employees, directors, officers or consultants (A) in the
ordinary course of business or (B) otherwise in an aggregate amount not to exceed $5.0
million in the aggregate outstanding at any one time;

     (5) reasonable fees, compensation or employee benefit arrangements to and indemnity
provided for the benefit of employees, directors, officers or consultants of the Company or
any of its Subsidiaries in the ordinary course of business;

     (6) any transaction exclusively between or among the Company and the Restricted
Subsidiaries or between or among Restricted Subsidiaries; provided, however, that the
transactions are not otherwise prohibited by this Indenture;

     (7) any agreement with an Affiliate in existence on the Issue Date and previously
provided to the Trustee;

     (8) the issuance or sale of any Capital Stock of the Company other than Disqualified
Stock; and

     (9) payments or cancellations of loans to employees or consultants of the Company or
any Restricted Subsidiary that are approved by a majority of the Board of Directors of the
Company in good faith and that are otherwise permitted under this Indenture not to exceed
$2.0 million in the aggregate.

Section 4.12 Liens.

     The Company will not, and will not permit any of its Restricted Subsidiaries to, directly
or indirectly, create, incur, assume or suffer to exist any Lien of any kind on any asset now owned
or hereafter acquired, except Permitted Liens and Liens to secure Indebtedness pursuant to clauses
(b)(1) and (b)(9) of Section 4.09 hereof, unless:

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     (1) in the case of any Lien securing Subordinated Obligations, effective provision is
made to secure the Notes or such Note Guarantee, as the case may be, with a Lien on the same
collateral that is prior to the Lien securing such Subordinated Obligations; and

     (2) in all other cases, the Notes or such Note Guarantee, as the case may be, are
secured on an equal and ratable basis.

Section 4.13 Limitation on Assets of Non-Guarantors.

     The Company shall not permit the Restricted Subsidiaries that are not Guarantors to
collectively hold at any one time more than 50.0% (the “Trigger Percentage”) of the sum of the
Total Assets plus the total assets of all Restricted Subsidiaries that are not Guarantors.

Section 4.14 Corporate Existence.

     Subject to Article 5 hereof, the Company shall do or cause to be done all things
necessary to preserve and keep in full force and effect:

     (1) its corporate existence, and the corporate, partnership or other existence of each
of its Subsidiaries, in accordance with the respective organizational documents (as the same
may be amended from time to time) of the Company or any such Subsidiary; and

     (2) the rights (charter and statutory), licenses and franchises of the Company and its
Subsidiaries; provided, however, that the Company shall not be required to preserve any such
right, license or franchise, or the corporate, partnership or other existence of any of its
Subsidiaries, if the Board of Directors shall determine that the preservation thereof is no
longer desirable in the conduct of the business of the Company and its Subsidiaries, taken
as a whole, and that the loss thereof is not adverse in any material respect to the Holders
of the Notes.

Section 4.15 Offer to Repurchase Upon Change of Control.

     (a) Upon the occurrence of a Change of Control, the Company will make an offer (a “Change
of Control Offer”) to each Holder to repurchase all or any part (equal to $1,000 or an integral
multiple of $1,000) of that Holder’s Notes at a purchase price in cash equal to 101% of the
aggregate principal amount of Notes repurchased plus accrued and unpaid interest and Liquidated
Damages, if any, on the Notes repurchased to the date of purchase, subject to the rights of Holders
on the relevant record date to receive interest due on the relevant interest payment date (the
“Change of Control Payment”). Within 30 days following any Change of Control, the Company will
mail or cause to be mailed a notice to each Holder describing the transaction or transactions that
constitute the Change of Control and stating:

     (1) that the Change of Control Offer is being made pursuant to this Section 4.15 and
that all Notes tendered will be accepted for payment;

     (2) the purchase price and the purchase date, which shall be no earlier than 30 days
and no later than 60 days from the date such notice is mailed; provided that in no event
shall such date by later than 90 days after the occurrence of such Change of Control (the
“Change of Control Payment Date”);

     (3) that any Note not tendered will continue to accrue interest;

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     (4) that, unless the Company defaults in the payment of the Change of Control Payment,
all Notes accepted for payment pursuant to the Change of Control Offer will cease to accrue
interest after the Change of Control Payment Date;

     (5) that Holders electing to have any Notes purchased pursuant to a Change of Control
Offer will be required to surrender the Notes, with the form entitled “Option of Holder to
Elect Purchase” attached to the Notes completed, or transfer by book-entry transfer, to the
Paying Agent at the address specified in the notice prior to the close of business on the
third Business Day preceding the Change of Control Payment Date;

     (6) that Holders will be entitled to withdraw their election if the Paying Agent
receives, not later than the close of business on the second Business Day preceding the
Change of Control Payment Date, a telegram, telex, facsimile transmission or letter setting
forth the name of the Holder, the principal amount of Notes delivered for purchase, and a
statement that such Holder is withdrawing his election to have the Notes purchased; and

     (7) that Holders whose Notes are being purchased only in part will be issued new Notes
equal in principal amount to the unpurchased portion of the Notes surrendered, which
unpurchased portion must be equal to $1,000 in principal amount or an integral multiple
thereof.

     The Company will comply with the requirements of Rule 14e-1 under the Exchange Act and any
other securities laws and regulations thereunder to the extent those laws and regulations are
applicable in connection with the repurchase of the Notes as a result of a Change in Control. To
the extent that the provisions of any securities laws or regulations conflict with the provisions
of Sections 3.09 or 4.15 hereof, the Company will comply with the applicable securities laws and
regulations and will not be deemed to have breached its obligations under Section 3.09 hereof or
this Section 4.15 by virtue of such compliance.

     (b) On the Change of Control Payment Date, the Company will, to the extent lawful:

     (1) accept for payment all Notes or portions of Notes properly tendered pursuant to the
Change of Control Offer;

     (2) deposit with the Paying Agent an amount equal to the Change of Control Payment in
respect of all Notes or portions of Notes properly tendered; and

     (3) deliver or cause to be delivered to the Trustee the Notes properly accepted
together with an Officers’ Certificate stating the aggregate principal amount of Notes or
portions of Notes being purchased by the Company.

     The Paying Agent will promptly mail (but in any case not later than five days after the Change
of Control Payment Date) to each Holder of Notes properly tendered the Change of Control Payment
for such Notes, and the Trustee will promptly authenticate and mail (or cause to be transferred by
book entry) to each Holder a new Note equal in principal amount to any unpurchased portion of the
Notes surrendered, if any. The Company will publicly announce the results of the Change of Control
Offer on or as soon as practicable after the Change of Control Payment Date.

     (c) Notwithstanding anything to the contrary in this Section 4.15, the Company will
not be required to make a Change of Control Offer upon a Change of Control if (1) a third party
makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the
requirements set forth in this Section 4.15 and Section 3.09 hereof and purchases all Notes
properly tendered and not

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withdrawn under the Change of Control Offer, or (2) notice of redemption has been given
pursuant to Section 3.07 hereof, unless and until there is a default in payment of the applicable
redemption price.

Section 4.16 Note Guarantee by STATS ChipPAC Korea and STATS ChipPAC Malaysia.

     (a) The Company has agreed that, in the event it or STATS ChipPAC Korea become aware of
an change in the regulatory environment which would permit the granting of such guarantee by STATS
ChipPAC Korea, the Company will, and will cause STATS ChipPAC Korea to use its best efforts to
obtain all required regulatory approvals, including, without limitation, regulatory approval from
the Bank of Korea, required for the valid issuance of STATS ChipPAC Korea’s Note Guarantee (the
“Korea Approvals”) and validly issue the STATS ChipPAC Korea Note Guarantee (the “Korea
Guarantee”). STATS ChipPAC will cause STATS ChipPAC Korea to provide the Korea Guarantee on the
business day following receipt of the Korea Approvals.

     (b) The Company has agreed that it will, and will cause STATS ChipPAC Korea to, not
grant, on or after the date hereof, any guarantee for the benefit of any other holders of
securities without in any such case at the same time securing a guarantee by STATS ChipPAC Korea
for the benefit of the Holders.

     (c) The Company has agreed to use its best efforts, and to cause STATS ChipPAC
Malaysia to use its best efforts, to register the Malaysian guarantee and to receive an
acknowledgement of registration from Bank Negara prior to the closing of the offering. If despite
the best efforts, the Malaysia guarantee is not registered and acknowledgment of registration is
not received prior to the closing of this offering, then the Company has agreed to use its best
efforts to register such guarantee and receive such acknowledgement within 60 days following the
closing of this offering.:

Section 4.17 No Amendment to Subordination Provisions.

     (a) The Notes issued pursuant to this Indenture are hereby designated as “Parent
Designated Senior Indebtedness” for purposes of the Subordinated Note Indenture.

     (b) Without the consent of the Holders of at least a majority in aggregate principal
amount of the Notes then outstanding, the Company will not, and will not permit any of its
Subsidiaries to, amend, modify or alter the Subordinated Note Indenture in any way to:

     (1) increase the rate of or change the time for payment of interest on any
Subordinated Notes;

     (2) increase the principal of, advance the final maturity date of or shorten the
Weighted Average Life to Maturity of any Subordinated Notes;

     (3) alter the redemption provisions or the price or terms at which the Company or any
of its Subsidiaries is required to offer to purchase any Subordinated Notes; or

     (4) amend the provisions of Article 11 of the Subordinated Note Indenture or Article 4
of the Second Supplemental Indenture to the Subordinated Note Indenture, dated as of October
11, 2004 (which relate to subordination).

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Section 4.18 Payments for Consent.

     The Company will not, and will not permit any of its Restricted Subsidiaries to, directly
or indirectly, pay or cause to be paid any consideration to or for the benefit of any Holder of
Notes for or as an inducement to any consent, waiver or amendment of any of the terms or provisions
of this Indenture or the Notes unless such consideration is offered to be paid and is paid to all
Holders of the Notes that consent, waive or agree to amend in the time frame set forth in the
solicitation documents relating to such consent, waiver or agreement.

Section 4.19 Payment of Additional Amounts.

     All payments of, or in respect of, principal of, premium and interest on, the Notes or
under the Note Guarantees will be made without withholding or deduction for, or on account of, any
present or future taxes, duties, assessments or governmental charges of whatever nature imposed or
levied by or on behalf of Singapore or any other jurisdiction in which any Guarantor is organized
or resident for tax purposes or from or through which payment is made by or on behalf of STATS
ChipPAC or any Guarantor on behalf of STATS ChipPAC or any Guarantor, (including, in each case, any
political subdivision thereof) (the “Relevant Jurisdiction”) or any authority thereof or therein
having power to tax unless these taxes, duties, assessments or governmental charges are required to
be withheld or deducted. In that event, the Company (or the Guarantor, as the case may be) agrees
to pay such additional amounts as will result (after deduction of such taxes, duties, assessments
or governmental charges and any additional taxes, duties, assessments or governmental charges of
the Relevant Jurisdiction) in the payment to each Holder of a Note of the amounts that would have
been payable in respect of such Notes or under the Note Guarantees had no such withholding or
deduction been required (such amounts, “Additional Amounts”), except that no Additional Amounts
shall be payable for or on account of:

     (a) any tax, duty, assessment or other governmental charge that would not have been
imposed but for the fact that such Holder:

     (1) has a present or former connection with the Relevant Jurisdiction other than the
mere ownership of, or receipt of payment under, such Note or under the Note Guarantees; or

     (2) presented such Note more than 30 days after the date on which the payment in
respect of such Note first became due and payable or provided for, whichever is later,
except to the extent that the Holder would have been entitled to such Additional Amounts if
it had presented such Note for payment on any day within such period of 30 days;

     (b) any estate, inheritance, gift, sale, transfer, personal property or similar
tax, assessment or other governmental charge;

     (c) any tax, duty, assessment or other governmental charge which is payable
otherwise than by deduction or withholding from payment of interest or principal on the Notes or
under the Note Guarantees;

     (d) any tax, duty, assessment or other governmental charge that is imposed or
withheld by reason of the failure to comply by the Holder or the Beneficial Owner of a Note with a
request by the Company addressed to the Holder (1) to provide information concerning the
nationality, residence or identity of the Holder or such Beneficial Owner or (2) to make any
declaration or other similar claim or satisfy any information or reporting requirement, which, in
the case of (1) and (2), is required or imposed by a statute, treaty, regulation or administrative
practice of the taxing jurisdiction as a precondition to exemption from all or part of such tax,
duty, assessment or other governmental charge; or

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     (e) any tax, duty, assessment or other governmental charge that would not have been
imposed but for the reason only of a combination of the items listed above;

nor shall Additional Amounts be paid with respect to any payment of the principal of or premium or
interest on any Note to any Holder who is a fiduciary or partnership or other than the sole
Beneficial Owner of the payment to the extent that, if the Beneficial Owner had held the Note
directly, such Beneficial Owner would not have been entitled to the Additional Amounts.

     If any taxes are required to be deducted or withheld from payments on the Notes or under the
Note Guarantees, the Company shall promptly provide to the trustee to be distributed to the holders
of the Note at the Company expense a receipt of the payment of such taxes (or if such receipt is
not available, any other evidence of payment reasonably acceptable to the Trustee).

     Any reference herein to the payment of the principal of or interest on any Note shall be
deemed to include the payment of Additional Amounts provided for herein to the extent that, in such
context, Additional Amounts are, were or would be payable hereunder.

Section 4.20 Additional Note Guarantees.

     If, after the Issue Date, the Company forms or otherwise acquires, directly or
indirectly, any Restricted Subsidiary, the Company shall cause the Restricted Subsidiary to
Guarantee the Notes under a Note Guarantee on the terms and conditions in this Indenture and the
Subsidiary Guarantee Agreement; provided, however, in the event the Company or a Restricted
Subsidiary forms or otherwise acquires, directly or indirectly, a Restricted Subsidiary organized
under the laws of a jurisdiction other than the United States and the jurisdiction prohibits by
law, regulation or order the Restricted Subsidiary from providing a Guarantee, the Company shall
use all commercially reasonable efforts, including pursuing required waivers, over a period up to
one year, to provide the Guarantee; provided, however, that the Company shall not be required to
use commercially reasonable efforts relating to the Subsidiaries for more than a one-year period or
a shorter period as the Board of Directors of the Company shall determine in good faith that it has
used all commercially reasonable efforts. If the Company or the Restricted Subsidiary is unable
during the period to obtain an enforceable Note Guarantee in the jurisdiction, then the Restricted
Subsidiary shall not be required to provide a Note Guarantee so long as the Restricted Subsidiary
does not Guarantee any other Indebtedness of the Company or the Restricted Subsidiaries. The form
of such Note Guarantee is attached as Exhibit E hereto.

ARTICLE 5

SUCCESSORS

Section 5.01 Merger, Consolidation, or Sale of Assets.

     The Company shall not consolidate with or merge with or into, or convey, transfer or
lease, in one transaction or a series of related transactions, all or substantially all its assets
to, any Person, unless:

     (1) the resulting, surviving or transferee Person, referred to as a “Successor
Company,” shall be a Person organized and existing under the laws of Singapore or of the
United States of America, any State thereof or the District of Columbia and the Successor
Company, if not the Company, shall expressly assume, by a supplemental indenture executed
and delivered to the Trustee, in form satisfactory to the Trustee, all the obligations of
the Company under this Indenture, the Notes and the Registration Rights Agreement;

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     (2) immediately after giving effect to the transaction, and treating any Indebtedness
which becomes an obligation of the Successor Company or any Subsidiary as a result of the
transaction as having been Incurred by the Successor Company or the Subsidiary at the time
of the transaction, no Default shall have occurred and be continuing;

     (3) immediately after giving effect to the transaction, (A) the Successor Company would
be able to Incur an additional $1.00 of Indebtedness under paragraph (a) of Section 4.09
hereof or (B) the Consolidated Coverage Ratio for the Successor Company and its Restricted
Subsidiaries would be equal to or greater than the same ratio for the Company and its
Restricted Subsidiaries immediately prior to the transaction;

     (4) the Company shall have delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel, each stating that the consolidation, merger or transfer and any
supplemental indenture comply with this Indenture;

     (5) if the merging corporation is organized and existing under the laws of Singapore
and the Successor Company is organized and existing under the laws of the United States of
America, any State thereof or the District of Columbia or if the merging corporation is
organized and existing under the laws of the United States of America, any State thereof or
the District of Columbia and the Successor Company is organized and existing under the laws
of Singapore (any such event, a “Foreign Jurisdiction Merger”), the Company shall have
delivered to the Trustee an Opinion of Counsel that the Holders of Notes will not recognize
income, gain or loss for U.S. Federal income tax purposes as a result of the transaction and
will be taxed in the same manner and on the same amounts and at the same times as would have
been the case if the transaction had not occurred; and

     (6) in the event of a Foreign Jurisdiction Merger, the Company shall have delivered to
the Trustee an Opinion of Counsel from Singapore or other applicable jurisdiction that (A)
any payment of interest or principal under or relating to the Notes or the Note Guarantees
will, after the consolidation, merger, conveyance, transfer or lease of assets, be exempt
from the Taxes described under Section 3.07(e) hereof and (B) no other taxes on income,
including capital gains, will be payable by Holders of the Notes under the laws of Singapore
or any other jurisdiction where the Successor Company is or becomes organized, resident or
engaged in business for tax purposes relating to the acquisition, ownership or disposition
of the Notes, including the receipt of interest or principal thereon, provided that the
Holder does not use or hold, and is not deemed to use or hold the Notes in carrying on a
business in Singapore or other jurisdiction where the Successor Company is or becomes
organized, resident or engaged in business for tax purposes;

provided, however, that clause (3) above shall not apply (A) if, in the good faith determination of
the Board of Directors of the Company, whose determination shall be evidenced by a resolution of
the Board of Directors, the principal purpose and effect of the transaction is to change the
jurisdiction of incorporation of the Company or (B) in the case of a merger of the Company with or
into one of its Wholly Owned Subsidiaries.

     The Successor Company shall be the successor to the Company and shall succeed to, and be
substituted for, and may exercise every right and power of, the Company under this Indenture, the
Notes and the Registration Rights Agreement and the Company, except in the case of a lease, shall
be automatically released from its obligations under this Indenture, the Notes and the Registration
Rights Agreement.

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Section 5.02 Merger, Consolidation, or Sale of Assets of Guarantors.

     Except as otherwise provided in Section 2.05 of the Subsidiary Guarantee Agreement, no
Guarantor may consolidate with or merge with or into, or convey, transfer or lease, in one
transaction or a series of transactions, all or substantially all of its assets to any Person,
unless:

     (a) the resulting, surviving or transferee Person if not the Guarantor shall be a
Person organized and existing under the laws of the jurisdiction under which the Guarantor was
organized or under the laws of the United States of America, or any State thereof or the District
of Columbia, and the Person shall expressly assume, by executing a supplemental indenture
satisfactory to the Trustee, all the obligations of the Guarantor under this Agreement, the
Subsidiary Guarantee Agreement and the Registration Rights Agreement;

     (b) immediately after giving effect to the transaction or transactions on a pro
forma basis, and treating any Indebtedness which becomes an obligation of the resulting, surviving
or transferee Person as a result of the transaction as having been issued by the Person at the time
of the transaction, no Default shall have occurred and be continuing; and

     (c) the Company shall have delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel, each stating that the consolidation, merger or transfer and the supplemental
indenture complies with this Agreement.

     The provisions of clauses (a) and (b) above shall not apply to any one or more transactions
involving a Guarantor which constitute an Asset Sale if such transactions are made in compliance
with the applicable provisions of Section 4.10 hereof.

     In case of any such consolidation, merger, conveyance, transfer, lease, or sale, and upon the
assumption by the successor Person, by supplemental indenture, executed and delivered to the
Trustee and satisfactory in form to the Trustee, of the Note Guarantee endorsed upon the Notes and
the due and punctual performance of all of the covenants and conditions of this Agreement and the
Subsidiary Guarantee Agreement to be performed by the Guarantor, such successor Person will succeed
to and be substituted for the Guarantor with the same effect as if it had been named herein and
therein as a Guarantor. Such successor Person thereupon may cause to be signed any or all of the
Note Guarantees to be endorsed upon all of the Notes issuable hereunder which theretofore shall not
have been signed by the Company and delivered to the Trustee. All the Note Guarantees so issued
will in all respects have the same legal rank and benefit under this Agreement and the Subsidiary
Guarantee Agreement as the Note Guarantees theretofore and thereafter issued in accordance with the
terms of this Agreement and the Subsidiary Guarantee Agreement as though all of such Note
Guarantees had been issued at the date of the execution hereof.

     Except as set forth in Articles 4 and 5 hereof, and notwithstanding clauses (a) and (c) of
this Section 5.02, nothing contained in this Agreement, the Subsidiary Guarantee Agreement or in
any of the Notes will prevent any consolidation or merger of a Guarantor with or into the Company
or another Guarantor, or will prevent any sale or conveyance of the property of a Guarantor as an
entirety or substantially as an entirety to the Company or another Guarantor.

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ARTICLE 6

DEFAULTS AND REMEDIES

Section 6.01 Events of Default.

     Each of the following is an “Event of Default”:

     (1) default for 30 days in the payment when due of interest on, or Liquidated Damages,
if any, or any Additional Amounts, with respect to, the Notes;

     (2) default in the payment when due (at Stated Maturity, upon redemption, required
repurchase, declaration or otherwise) of the principal of, or premium, if any, on the Notes;

     (3) failure by the Company or any Guarantor to comply with the provisions of Section
5.01 hereof;

     (4) failure by the Company or any of its Restricted Subsidiaries for 30 days after
notice to the Company by the Trustee or the Holders of at least 25% in aggregate principal
amount of the Notes then outstanding voting as a single class to comply with any of its
obligations under Section 4.15 hereof other than a failure to purchase the Notes as required
thereunder, Section 4.10 hereof other than a failure to purchase the Notes as required
thereunder, and Sections 4.03, 4.07, 4.08, 4.09, 4.11, 4.12, 4.20 and 5.02 hereof;

     (5) failure by the Company or any of its Restricted Subsidiaries for 60 days after
notice to the Company by the Trustee or the Holders of at least 25% in aggregate principal
amount of the Notes then outstanding voting as a single class to comply with any of the
other agreements in this Indenture or the Subsidiary Guarantee Agreement;

     (6) default under any mortgage, indenture or instrument under which there may be issued
or by which there may be secured or evidenced any Indebtedness for money borrowed by the
Company or any of its Restricted Subsidiaries (or the payment of which is guaranteed by the
Company or any of its Restricted Subsidiaries), whether such Indebtedness or Guarantee now
exists, or is created after the date of this Indenture, if that default:

     (A) is caused by a failure to pay principal of such Indebtedness prior to the
expiration of the applicable grace period provided in such Indebtedness on the date
of such default (a “Payment Default”); or

     (B) results in the acceleration of such Indebtedness prior to its express
maturity,

and, in each case, the total unpaid principal amount of any such Indebtedness,
together with the total unpaid principal amount of any other such Indebtedness under
which there has been a Payment Default or the maturity of which has been so
accelerated, aggregates $15.0 million or more;

     (7) any judgment or decree for the payment of money in excess of $15.0 million is
entered against the Company or a Significant Subsidiary, remains outstanding for a period of
60 days following the judgment and is not discharged, waived or stayed within 10 days after
notice thereof to the Company by the Trustee or the Holders of at least 25% in aggregate
principal amount of the Notes then outstanding, voting as a single class;

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     (8) the Company or any of its Restricted Subsidiaries that is a Significant Subsidiary
or any group of Restricted Subsidiaries of the Company that, taken together, would
constitute a Significant Subsidiary pursuant to or within the meaning of Bankruptcy Law:

     (A) commences a voluntary case,

     (B) consents to the entry of an order for relief against it in an involuntary
case,

     (C) consents to the appointment of a custodian of it or for all or
substantially all of its property,

     (D) makes a general assignment for the benefit of its creditors, or

     (E) generally is not paying its debts as they become due;

     (9) a court of competent jurisdiction enters an order or decree under any Bankruptcy
Law that:

     (A) is for relief against the Company or any of its Restricted Subsidiaries
that is a Significant Subsidiary or any group of Restricted Subsidiaries of the
Company that, taken together, would constitute a Significant Subsidiary in an
involuntary case;

     (B) appoints a custodian of the Company or any of its Restricted Subsidiaries
that is a Significant Subsidiary or any group of Restricted Subsidiaries of the
Company that, taken together, would constitute a Significant Subsidiary or for all
or substantially all of the property of the Company or any of its Restricted
Subsidiaries that is a Significant Subsidiary or any group of Restricted
Subsidiaries of the Company that, taken together, would constitute a Significant
Subsidiary; or

     (C) orders the liquidation of the Company or any of its Restricted Subsidiaries
that is a Significant Subsidiary or any group of Restricted Subsidiaries of the
Company that, taken together, would constitute a Significant Subsidiary;

and the order or decree remains unstayed and in effect for 60 consecutive days; or

     (10) except as permitted by this Indenture, any Note Guarantee of a Significant
Subsidiary is held in any judicial proceeding to be unenforceable or invalid or ceases for
any reason to be in full force and effect, other than in compliance with the terms of the
Note Guarantee, or any Guarantor, or any Person acting on behalf of any Guarantor, denies or
disaffirms its obligations under its Note Guarantee.

The Company shall deliver to the Trustee, within 30 days after the occurrence thereof, written
notice in the form of an Officers’ Certificate of any Event of Default under clause (6) or (10) and
any event which with the giving of notice or the lapse of time would become an Event of Default
under clause (4), (5) or (7), its status and what action the
Company is taking or proposes to take
with respect thereto.

Section 6.02 Acceleration.

     In the case of an Event of Default specified in clause (8) or (9) of Section 6.01 hereof,
with respect to the Company, any Restricted Subsidiary of the Company that is a Significant
Subsidiary or any group of Restricted Subsidiaries of the Company that, taken together, would
constitute a Significant

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Subsidiary, all outstanding Notes will become due and payable immediately without further
action or notice. If any other Event of Default occurs and is continuing, the Trustee or the
Holders of at least 25% in aggregate principal amount of the then outstanding Notes may declare all
the Notes to be due and payable immediately; provided that so long as any Indebtedness permitted to
be incurred pursuant to the Credit Facilities is outstanding, such acceleration will not be
effective until the earlier of (1) the acceleration of such Indebtedness under the Credit
Facilities or (2) five Business Days after receipt by the Company or such Guarantor of written
notice of such acceleration.

     Upon any such declaration, the Notes shall become due and payable immediately.

     The Holders of a majority in aggregate principal amount of the then outstanding Notes by
written notice to the Trustee may, on behalf of all of the Holders, rescind an acceleration and its
consequences, if the rescission would not conflict with any judgment or decree and if all existing
Events of Default (except nonpayment of principal, interest or premium or Liquidated Damages, if
any, that has become due solely because of the acceleration) have been cured or waived.

Section 6.03 Other Remedies.

     If an Event of Default occurs and is continuing, the Trustee may pursue any available
remedy to collect the payment of principal, premium and Liquidated Damages, if any, and interest on
the Notes or to enforce the performance of any provision of the Notes or this Indenture.

     The Trustee may maintain a proceeding even if it does not possess any of the Notes or does not
produce any of them in the proceeding. A delay or omission by the Trustee or any Holder of a Note
in exercising any right or remedy accruing upon an Event of Default shall not impair the right or
remedy or constitute a waiver of or acquiescence in the Event of Default. All remedies are
cumulative to the extent permitted by law.

Section 6.04 Waiver of Past Defaults.

     Holders of not less than a majority in aggregate principal amount of the then outstanding
Notes by notice to the Trustee may on behalf of the Holders of all of the Notes waive an existing
Default or Event of Default and its consequences hereunder, except a continuing Default or Event of
Default in the payment of the principal of, premium and Liquidated Damages, if any, or interest on,
the Notes (including in connection with an offer to purchase); provided, however, that the Holders
of a majority in aggregate principal amount of the then outstanding Notes may rescind an
acceleration and its consequences, including any related payment default that resulted from such
acceleration. Upon any such waiver, such Default shall cease to exist, and any Event of Default
arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no
such waiver shall extend to any subsequent or other Default or impair any right consequent thereon.

Section 6.05 Control by Majority.

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     Holders of a majority in aggregate principal amount of the then outstanding Notes may
direct the time, method and place of conducting any proceeding for exercising any remedy available
to the Trustee or exercising any trust or power conferred on it. However, the Trustee may refuse
to follow any direction that conflicts with law or this Indenture that the Trustee determines may
be unduly prejudicial to the rights of other Holders of Notes or that may involve the Trustee in
personal liability.

Section 6.06 Limitation on Suits.

     A Holder may pursue a remedy with respect to this Indenture or the Notes only if:

     (1) such Holder gives to the Trustee written notice that an Event of Default is
continuing;

     (2) Holders of at least 25% in aggregate principal amount of the then outstanding Notes
make a written request to the Trustee to pursue the remedy;

     (3) such Holder or Holders offer and, if requested, provide to the Trustee security or
indemnity reasonably satisfactory to the Trustee against any loss, liability or expense;

     (4) the Trustee does not comply with the request within 60 days after receipt of the
request and the offer of security or indemnity; and

     (5) during such 60-day period, Holders of a majority in aggregate principal amount of
the then outstanding Notes do not give the Trustee a direction inconsistent with such
request.

     A Holder of a Note may not use this Indenture to prejudice the rights of another Holder of a
Note or to obtain a preference or priority over another Holder of a Note.

Section 6.07 Rights of Holders of Notes to Receive Payment.

     Notwithstanding any other provision of this Indenture, the right of any Holder of a Note
to receive payment of principal, premium and Liquidated Damages, if any, and interest on the Note,
on or after the respective due dates expressed in the Note (including in connection with an offer
to purchase), or to bring suit for the enforcement of any such payment on or after such respective
dates, shall not be impaired or affected without the consent of such Holder.

Section 6.08 Collection Suit by Trustee.

     If an Event of Default specified in Section 6.01(1) or (2) hereof occurs and is
continuing, the Trustee is authorized to recover judgment in its own name and as trustee of an
express trust against the Company for the whole amount of principal of, premium and Liquidated
Damages, if any, and interest remaining unpaid on, the Notes and interest on overdue principal and,
to the extent lawful, interest and such further amount as shall be sufficient to cover the costs
and expenses of collection, including the reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel.

Section 6.09 Trustee May File Proofs of Claim.

     The Trustee is authorized to file such proofs of claim and other papers or documents as
may be necessary or advisable in order to have the claims of the Trustee (including any claim for
the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and
counsel) and the Holders of the Notes allowed in any judicial proceedings relative to the Company
(or any other obligor upon the Notes), its creditors or its property and shall be entitled and
empowered to collect, receive and

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distribute any money or other property payable or deliverable on any such claims and any
custodian in any such judicial proceeding is hereby authorized by each Holder to make such payments
to the Trustee, and in the event that the Trustee shall consent to the making of such payments
directly to the Holders, to pay to the Trustee any amount due to it for the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any
other amounts due the Trustee under Section 7.07 hereof. To the extent that the payment of any
such compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and
any other amounts due the Trustee under Section 7.07 hereof out of the estate in any such
proceeding, shall be denied for any reason, payment of the same shall be secured by a Lien on, and
shall be paid out of, any and all distributions, dividends, money, securities and other properties
that the Holders may be entitled to receive in such proceeding whether in liquidation or under any
plan of reorganization or arrangement or otherwise. Nothing herein contained shall be deemed to
authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any
plan of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of
any Holder, or to authorize the Trustee to vote in respect of the claim of any Holder in any such
proceeding.

Section 6.10 Priorities.

     If the Trustee collects any money pursuant to this Article 6, it shall pay out the money
in the following order:

     First: to the Trustee, its agents and attorneys for amounts due under Section 7.07
hereof, including payment of all compensation, expenses and liabilities incurred, and all
advances made, by the Trustee and the costs and expenses of collection;

     Second: to Holders of Notes for amounts due and unpaid on the Notes for principal,
premium and Liquidated Damages, if any, and interest, ratably, without preference or
priority of any kind, according to the amounts due and payable on the Notes for principal,
premium and Liquidated Damages, if any and interest, respectively; and

     Third: to the Company or to such party as a court of competent jurisdiction shall
direct.

     The Trustee may fix a record date and payment date for any payment to Holders of Notes
pursuant to this Section 6.10.

Section 6.11 Undertaking for Costs.

     In any suit for the enforcement of any right or remedy under this Indenture or in any
suit against the Trustee for any action taken or omitted by it as a Trustee, a court in its
discretion may require the filing by any party litigant in the suit of an undertaking to pay the
costs of the suit, and the court in its discretion may assess reasonable costs, including
reasonable attorneys’ fees, against any party litigant in the suit, having due regard to the merits
and good faith of the claims or defenses made by the party litigant. This Section 6.11 does not
apply to a suit by the Trustee, a suit by a Holder of a Note pursuant to Section 6.07 hereof, or a
suit by Holders of more than 10% in aggregate principal amount of the then outstanding Notes.

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ARTICLE 7

TRUSTEE

Section 7.01 Duties of Trustee.

     (a) If an Event of Default has occurred and is continuing, the Trustee will exercise such
of the rights and powers vested in it by this Indenture, and use the same degree of care and skill
in its exercise, as a prudent person would exercise or use under the circumstances in the conduct
of such person’s own affairs.

     (b) Except during the continuance of an Event of Default:

     (1) the duties of the Trustee will be determined solely by the express provisions of
this Indenture and the Trustee need perform only those duties that are specifically set
forth in this Indenture and no others, and no implied covenants or obligations shall be read
into this Indenture against the Trustee; and

     (2) in the absence of bad faith on its part, the Trustee may conclusively rely, as to
the truth of the statements and the correctness of the opinions expressed therein, upon
certificates or opinions furnished to the Trustee and conforming to the requirements of this
Indenture. However, the Trustee will examine the certificates and opinions to determine
whether or not they conform to the requirements of this Indenture.

     (c) The Trustee may not be relieved from liabilities for its own negligent action,
its own negligent failure to act, or its own willful misconduct, except that:

     (1) this paragraph does not limit the effect of paragraph (b) of this Section 7.01;

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

     (3) the Trustee will not be liable with respect to any action it takes or omits to take
in good faith in accordance with a direction received by it pursuant to Section 6.05 hereof.

     (d) Whether or not therein expressly so provided, every provision of this Indenture
that in any way relates to the Trustee is subject to paragraphs (a), (b), and (c) of this Section
7.01.

     (e) No provision of this Indenture will require the Trustee to expend or risk its
own funds or incur any liability. The Trustee will be under no obligation to exercise any of its
rights and powers under this Indenture at the request of any Holders, unless such Holder has
offered to the Trustee security and indemnity satisfactory to it against any loss, liability or
expense.

     (f) The Trustee will not be liable for interest on any money received by it except
as the Trustee may agree in writing with the Company. Money held in trust by the Trustee need not
be segregated from other funds except to the extent required by law.

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Section 7.02 Rights of Trustee.

     (a) The Trustee may conclusively rely upon any document believed by it to be genuine and
to have been signed or presented by the proper Person. The Trustee need not investigate any fact
or matter stated in the document.

     (b) Before the Trustee acts or refrains from acting, it may require an Officers’
Certificate or an Opinion of Counsel or both. The Trustee will not be liable for any action it
takes or omits to take in good faith in reliance on such Officers’ Certificate or Opinion of
Counsel. The Trustee may consult with counsel and the written advice of such counsel or any
Opinion of Counsel will be full and complete authorization and protection from liability in respect
of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon.

     (c) The Trustee may act through its attorneys and agents and will not be responsible
for the misconduct or negligence of any agent appointed with due care.

     (d) The Trustee will not be liable for any action it takes or omits to take in good
faith that it believes to be authorized or within the rights or powers conferred upon it by this
Indenture.

     (e) Unless otherwise specifically provided in this Indenture, any demand, request,
direction or notice from the Company will be sufficient if signed by an Officer of the Company.

     (f) The Trustee will be under no obligation to exercise any of the rights or powers
vested in it by this Indenture at the request or direction of any of the Holders unless such
Holders have offered to the Trustee reasonable indemnity or security against the losses,
liabilities and expenses that might be incurred by it in compliance with such request or direction.

     (g) The Trustee may conclusively rely, and shall be protected in acting or
refraining from acting, upon any resolution, certificate, statement, instrument, opinion, report,
notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness
or other paper or document believed by it to be genuine and to have been signed or presented by the
proper party or parties.

     (h) Any request or direction of the Company mentioned herein shall be sufficiently
evidenced by a Company Request or Company Order and any resolution of the Board of Directors shall
be sufficiently evidenced by a Board Resolution.

     (i) Whenever in the administration of this Indenture the Trustee shall deem it
desirable that a matter be proved or established prior to taking, suffering or omitting any action
hereunder, the Trustee (unless other evidence be herein specifically prescribed) may, in the
absence of bad faith on its part, rely upon an Officers’ Certificate.

     (j) The Trustee may consult with counsel of its selection and the advice of such
counsel or any Opinion of Counsel shall be full and complete authorization and protection in
respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance
thereon.

     (k) The Trustee shall be under no obligation to exercise any of the rights or powers
vested in it by this Indenture at the request or direction of any of the Holders of Notes pursuant
to this Indenture, unless such Holders shall have offered to the Trustee security or indemnity
satisfactory to it against the costs, expenses and liabilities which might be incurred by it in
compliance with such request or direction.

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     (l) The Trustee shall not be bound to make any investigation into the facts or
matters stated in any resolution, certificate, statement, instrument, opinion, report, notice,
request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other
paper or document, but the Trustee, in its discretion, may make such further inquiry or
investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to
make such further inquiry or investigation, it shall be entitled to examine the books, records and
premises of the Company, personally or by agent or attorney.

     (m) The Trustee may execute any of the trusts or powers hereunder or perform any
duties hereunder either directly or by or through agents or attorneys and the Trustee shall not be
responsible for any misconduct or negligence on the part of any agent or attorney appointed with
due care by it hereunder.

     (n) Except with respect to Section 4.01, the Trustee shall have no duty to inquire
as to the performance of the Company’s covenants in Article IV hereof. In addition, the Trustee
shall not be deemed to have knowledge of any Default or Event of Default except (i) any Default or
Event of Default occurring pursuant to Section 6.01(a), (b) or (c) or (ii) any Default or Event of
Default of which the Trustee shall have received written notification or obtained actual knowledge.

     (o) The Trustee shall not be liable for any action taken, suffered or omitted to be
taken by it in good faith and reasonably believed by it to be authorized or within the discretion
or rights or powers conferred upon it by this Indenture.

     (p) The Trustee may request that the Company deliver an Officers’ Certificate
setting forth the names of individuals and/or titles of officers authorized at such time to take
specified actions pursuant to this Indenture, which Officers’ Certificate may be signed by any
person authorized to sign an Officers’ Certificate, including any person specified as so authorized
in any such certificate previously delivered and not superseded.

Section 7.03 Individual Rights of Trustee.

     The Trustee in its individual or any other capacity may become the owner or pledgee of
Notes and may otherwise deal with the Company or any Affiliate of the Company with the same rights
it would have if it were not Trustee. However, in the event that the Trustee acquires any
conflicting interest, it must eliminate such conflict within 90 days, apply to the SEC for
permission to continue as trustee (if this Indenture has been qualified under the TIA) or resign.
Any Agent may do the same with like rights and duties. The Trustee is also subject to Sections
7.10 and 7.11 hereof.

Section 7.04 Trustee’s Disclaimer.

     The Trustee will not be responsible for and makes no representation as to the validity or
adequacy of this Indenture or the Notes, it shall not be accountable for the Company’s use of the
proceeds from the Notes or any money paid to the Company or upon the Company’s direction under any
provision of this Indenture, it will not be responsible for the use or application of any money
received by any Paying Agent other than the Trustee, and it will not be responsible for any
statement or recital herein or any statement in the Notes or any other document in connection with
the sale of the Notes or pursuant to this Indenture other than its certificate of authentication.
The Trustee shall have no duty to inquire as to the performance of the Company with respect to the
covenants contained in Article 4 and 5 hereof. In addition, the Trustee shall not be deemed to
have knowledge of an Event of Default except any Event of Default pursuant to Sections 6.01(a) or
(b) hereof or any Default or Event of Default of which the Trustee shall have received written
notification.

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Section 7.05 Notice of Defaults.

     Within 90 days after the occurrence of any default hereunder with respect to Notes, the
Trustee shall give notice to all Holders of Notes of such default hereunder known to the Trustee,
unless such default shall have been cured or waived; provided, however, that, except in the case of
a default in the payment of the principal of (or premium, if any) or interest on any Note, the
Trustee shall be protected in withholding such notice if and so long as the board of directors, the
executive committee or a trust committee of directors and/or Trust Officers of the Trustee in good
faith determine that the withholding of such notice is in the interest of the Holders of Notes; and
provided, further, that in the case of any default of the character specified in Section 6.01(4)
with respect to Notes, no such notice to Holders shall be given until at least 30 days after the
occurrence thereof. For the purpose of this Section, the term “default” means any event which is,
or after notice or lapse of time or both would become, an Event of Default with respect to Notes.

     Notice given pursuant to this Section 7.05 shall be transmitted by mail:

     (a) To all registered Holders, as the names and addresses of the registered Holders
appear in the Note Register.

     (b) To each Holder of a Note whose name and address appear in the information
preserved at the time by the Trustee in accordance with Section 7.05(a) of this Indenture.

Section 7.06 Reports by Trustee to Holders of the Notes.

     (a) Within 60 days after each January 15 beginning with the January 15 following the date
of this Indenture, and for so long as Notes remain outstanding, the Trustee will mail to the
Holders of the Notes a brief report dated as of such reporting date that complies with TIA § 313(a)
(but if no event described in TIA § 313(a) has occurred within the twelve months preceding the
reporting date, no report need be transmitted). The Trustee also will comply with TIA § 313(b)(2).
The Trustee will also transmit by mail all reports as required by TIA § 313(c).

     (b) A copy of each report at the time of its mailing to the Holders of Notes will be
mailed by the Trustee to the Company and filed by the Trustee with the SEC and each stock exchange
on which the Notes are listed in accordance with TIA § 313(d). The Company will promptly notify
the Trustee when the Notes are listed on any stock exchange.

Section 7.07 Compensation and Indemnity.

     (a) The Company will pay to the Trustee from time to time reasonable compensation for its
acceptance of this Indenture and services hereunder. The Trustee’s compensation will not be
limited by any law on compensation of a trustee of an express trust. The Company will reimburse the
Trustee promptly upon request for all reasonable disbursements, advances and expenses incurred or
made by it in addition to the compensation for its services. Such expenses will include the
reasonable compensation, disbursements and expenses of the Trustee’s agents and counsel.

     (b) The Company will indemnify the Trustee against any and all losses, liabilities
or expenses incurred by it arising out of or in connection with the acceptance or administration of
its duties under this Indenture, including the costs and expenses of enforcing this Indenture and
the Subsidiary Guarantee Agreement against the Company and the Guarantors (including this Section
7.07) and defending itself against any claim (whether asserted by the Company, the Guarantors, any
Holder or any other Person) or liability in connection with the exercise or performance of any of
its powers or duties hereunder, except to

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the extent any such loss, liability or expense may be attributable to its negligence or bad
faith. The Trustee will notify the Company promptly of any claim for which it may seek indemnity.
Failure by the Trustee to so notify the Company will not relieve the Company of its obligations
hereunder. The Company will defend the claim and the Trustee will cooperate in the defense. The
Trustee may have separate counsel and the Company will pay the reasonable fees and expenses of such
counsel. Neither the Company nor any Guarantor need pay for any settlement made without its
consent, which consent will not be unreasonably withheld.

     (c) The obligations of the Company under this Section 7.07 will survive the
satisfaction and discharge of this Indenture.

     (d) To secure the Company’s payment obligations in this Section 7.07, the Trustee
will have a Lien prior to the Notes on all money or property held or collected by the Trustee,
except that held in trust to pay principal and interest on particular Notes. Such Lien will
survive the satisfaction and discharge of this Indenture.

     (e) When the Trustee incurs expenses or renders services after an Event of Default
specified in Section 6.01(8) or (9) hereof occurs, the expenses and the compensation for the
services (including the fees and expenses of its agents and counsel) are intended to constitute
expenses of administration under any Bankruptcy Law.

     (f) The Trustee will comply with the provisions of TIA § 313(b)(2) to the extent
applicable.

Section 7.08 Replacement of Trustee.

     (a) A resignation or removal of the Trustee and appointment of a successor Trustee will
become effective only upon the successor Trustee’s acceptance of appointment as provided in this
Section 7.08.

     (b) The Trustee may resign in writing at any time and be discharged from the trust
hereby created by so notifying the Company. The Holders of a majority in aggregate principal
amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the
Company in writing. The Company may remove the Trustee if:

     (1) the Trustee fails to comply with Section 7.10 hereof;

     (2) the Trustee is adjudged bankrupt or insolvent or an order for relief is entered
with respect to the Trustee under any Bankruptcy Law;

     (3) a custodian or public officer takes charge of the Trustee or its property; or

     (4) the Trustee becomes incapable of acting.

     (c) If the Trustee resigns or is removed or if a vacancy exists in the office of
Trustee for any reason, the Company will promptly appoint a successor Trustee. Within one year
after the successor Trustee takes office, the Holders of a majority in aggregate principal amount
of the then outstanding Notes may appoint a successor Trustee to replace the successor Trustee
appointed by the Company.

     (d) If a successor Trustee does not take office within 60 days after the retiring
Trustee resigns or is removed, the retiring Trustee, the Company, or the Holders of at least 10% in
aggregate principal amount of the then outstanding Notes may petition any court of competent
jurisdiction for the appointment of a successor Trustee.

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     (e) If the Trustee, after written request by any Holder who has been a Holder for at
least six months, fails to comply with Section 7.10 hereof, such Holder may petition any court of
competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee.

     (f) A successor Trustee will deliver a written acceptance of its appointment to the
retiring Trustee and to the Company. Thereupon, the resignation or removal of the retiring Trustee
will become effective, and the successor Trustee will have all the rights, powers and duties of the
Trustee under this Indenture. The successor Trustee will mail a notice of its succession to
Holders. The retiring Trustee will promptly transfer all property held by it as Trustee to the
successor Trustee; provided all sums owing to the Trustee hereunder have been paid and subject to
the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant
to this Section 7.08, the Company’s obligations under Section 7.07 hereof will continue for the
benefit of the retiring Trustee.

Section 7.09 Successor Trustee by Merger, etc.

     If the Trustee consolidates, merges or converts into, or transfers all or substantially
all of its corporate trust business to, another corporation, the successor corporation without any
further act will be the successor Trustee.

Section 7.10 Eligibility; Disqualification.

     There will at all times be a Trustee hereunder that is a corporation organized and doing
business under the laws of the United States of America or of any state thereof that is authorized
under such laws to exercise corporate trustee power, that is subject to supervision or examination
by federal or state authorities and that has a combined capital and surplus of at least $100.0
million as set forth in its most recent published annual report of condition.

     This Indenture will always have a Trustee who satisfies the requirements of TIA § 310(a)(1),
(2) and (5). The Trustee is subject to TIA § 310(b).

Section 7.11 Preferential Collection of Claims Against Company.

     The Trustee is subject to TIA § 311(a), excluding any creditor relationship listed in TIA
§ 311(b). A Trustee who has resigned or been removed shall be subject to TIA § 311(a) to the
extent indicated therein.

ARTICLE 8

LEGAL DEFEASANCE AND COVENANT DEFEASANCE

Section 8.01 Option to Effect Legal Defeasance or Covenant Defeasance.

     The Company may at any time, at the option of its Board of Directors evidenced by a
resolution set forth in an Officers’ Certificate, elect to have either Section 8.02 or 8.03 hereof
be applied to all outstanding Notes upon compliance with the conditions set forth below in this
Article 8.

Section 8.02 Legal Defeasance and Discharge.

     Upon the Company’s exercise under Section 8.01 hereof of the option applicable to this
Section 8.02, the Company and each of the Guarantors will, subject to the satisfaction of the
conditions set forth in Section 8.04 hereof, be deemed to have been discharged from their
obligations with respect to all outstanding Notes (including the Note Guarantees) on the date the
conditions set forth below are satisfied

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(hereinafter, “Legal Defeasance”). For this purpose, Legal Defeasance means that the Company
and the Guarantors will be deemed to have paid and discharged the entire Indebtedness represented
by the outstanding Notes (including the Note Guarantees), which will thereafter be deemed to be
“outstanding” only for the purposes of Section 8.05 hereof and the other Sections of this Indenture
referred to in clauses (1) and (2) below, and to have satisfied all their other obligations under
such Notes, the Note Guarantees and this Indenture (and the Trustee, on demand of and at the
expense of the Company, shall execute proper instruments acknowledging the same), except for the
following provisions which will survive until otherwise terminated or discharged hereunder:

     (1) the rights of Holders of outstanding Notes to receive payments in respect of the
principal of, or interest or premium and Liquidated Damages, if any, on, such Notes when
such payments are due from the trust referred to in Section 8.04 hereof;

     (2) the Company’s obligations with respect to such Notes under Article 2 and Section
4.02 hereof;

     (3) the rights, powers, trusts, duties and immunities of the Trustee hereunder and the
Company’s and the Guarantors’ obligations in connection therewith; and

     (4) this Article 8.

     Subject to compliance with this Article 8, the Company may exercise its option under this
Section 8.02 notwithstanding the prior exercise of its option under Section 8.03 hereof.

Section 8.03 Covenant Defeasance.

     Upon the Company’s exercise under Section 8.01 hereof of the option applicable to this
Section 8.03, the Company and each of the Guarantors will, subject to the satisfaction of the
conditions set forth in Section 8.04 hereof, be released from each of their obligations under the
covenants contained in Sections 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14, 4.15, 4.16, 4.17,
4.18, 4.19 and 4.20 hereof and clause (3) of Section 5.01 hereof with respect to the outstanding
Notes on and after the date the conditions set forth in Section 8.04 hereof are satisfied
(hereinafter, “Covenant Defeasance”), and the Notes will thereafter be deemed not “outstanding” for
the purposes of any direction, waiver, consent or declaration or act of Holders (and the
consequences of any thereof) in connection with such covenants, but will continue to be deemed
“outstanding” for all other purposes hereunder (it being understood that such Notes will not be
deemed outstanding for accounting purposes). For this purpose, Covenant Defeasance means that,
with respect to the outstanding Notes and Note Guarantees, the Company and the Guarantors may omit
to comply with and will have no liability in respect of any term, condition or limitation set forth
in any such covenant, whether directly or indirectly, by reason of any reference elsewhere herein
to any such covenant or by reason of any reference in any such covenant to any other provision
herein or in any other document and such omission to comply will not constitute a Default or an
Event of Default under Section 6.01 hereof, but, except as specified above, the remainder of this
Indenture and such Notes and Note Guarantees will be unaffected thereby. In addition, upon the
Company’s exercise under Section 8.01 hereof of the option applicable to this Section 8.03, subject
to the satisfaction of the conditions set forth in Section 8.04 hereof, Sections 6.01(3) through
6.01(6) hereof will not constitute Events of Default.

Section 8.04 Conditions to Legal or Covenant Defeasance.

     In order to exercise either Legal Defeasance or Covenant Defeasance under either Section
8.02 or 8.03 hereof:

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     (1) the Company must irrevocably deposit with the Trustee, in trust, for the benefit of
the Holders, cash in U.S. dollars, non-callable Government Securities, or a combination
thereof, in such amounts as will be sufficient, in the opinion of a nationally recognized
investment bank, appraisal firm, or firm of independent public accountants, to pay the
principal of, premium and Liquidated Damages, if any, and interest on, the outstanding Notes
on the stated date for payment thereof or on the applicable redemption date, as the case may
be, and the Company must specify whether the Notes are being defeased to such stated date
for payment or to a particular redemption date;

     (2) in the case of an election under Section 8.02 hereof, the Company must deliver to
the Trustee:

     (A) an Opinion of U.S. Counsel reasonably acceptable to the Trustee confirming
that:

     (i) the Company has received from, or there has been
published by, the Internal Revenue Service a ruling; or

     (ii) since the Issue Date, there has been a change in the
applicable federal income tax law, in either case to the effect that, and
based thereon such Opinion of Counsel will confirm that, the Holders of the
outstanding Notes will not recognize income, gain or loss for federal income
tax purposes as a result of such Legal Defeasance and will be subject to
federal income tax on the same amounts, in the same manner and at the same
times as would have been the case if such Legal Defeasance had not occurred;
and

     (B) an opinion of Singapore counsel and of any other jurisdiction in which the
Company is organized or resident for tax purposes that:

     (i) Holders of the outstanding Notes will not recognize
income, gain or loss for purposes of the tax laws of the jurisdiction as a
result of such Legal Defeasance and will be subject for purposes of the tax
laws of that jurisdiction to income tax on the same amounts, in the same
manner and at the same times as would have been the case if Legal Defeasance
had not occurred and

     (ii) payments from the defeasance trust will be free or
exempt from any and all withholding and other taxes of whatever nature of
the jurisdiction or any political subdivision or taxing authority except in
the case of a payment made to a Holder which can be taxed by reason of the
Holder’s carrying on a business in Singapore or other jurisdiction;

     (3) in the case of an election under Section 8.03 hereof, the Company must deliver to
the Trustee:

     (A) an Opinion of U.S. Counsel reasonably acceptable to the Trustee confirming
that the Holders of the outstanding Notes will not recognize income, gain or loss
for federal income tax purposes as a result of such Covenant Defeasance and will be
subject to federal income tax on the same amounts, in the same manner and at the
same times as would have been the case if such Covenant Defeasance had not occurred;
and

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     (B) an opinion of Singapore counsel and of any other jurisdiction in which the
Company is organized, resident or engaged in business for tax purposes that:

     (i) Holders of the outstanding Notes will not recognize
income, gain or loss for purposes of the tax laws of the jurisdiction as a
result of such Covenant Defeasance and will be subject for purposes of the
tax laws of that jurisdiction to income tax on the same amounts, in the same
manner and at the same times as would have been the case if Covenant
Defeasance had not occurred; and

     (ii) payments from the defeasance trust will be free or
exempt from any and all withholding and other taxes of whatever nature of
the jurisdiction or any political subdivision or taxing authority except in
the case of a payment made to a Holder which can be taxed by reason of the
Holder’s carrying on a business in Singapore or other jurisdiction;

     (4) no Default or Event of Default shall have occurred and be continuing on the date of
such deposit (other than a Default or Event of Default resulting from the borrowing of funds
to be applied to such deposit) and the deposit will not result in a breach or violation of,
or constitute a default under, any other instrument to which the Company or any Guarantor is
a party or by which the Company or any Guarantor is bound;

     (5) such Legal Defeasance or Covenant Defeasance will not result in a breach or
violation of, or constitute a default under, any material agreement or instrument (other
than this Indenture) to which the Company or any of its Subsidiaries is a party or by which
the Company or any of its Subsidiaries is bound;

     (6) the Company must deliver to the Trustee an Officers’ Certificate stating that the
deposit was not made by the Company with the intent of preferring the Holders of Notes over
the other creditors of the Company with the intent of defeating, hindering, delaying or
defrauding any creditors of the Company or others; and

     (7) the Company must deliver to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that all conditions precedent relating to the Legal Defeasance or the
Covenant Defeasance have been complied with.

     Section 8.05 Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous Provisions.

     Subject to Section 8.06 hereof, all money and non-callable Government Securities
(including the proceeds thereof) deposited with the Trustee (or other qualifying trustee,
collectively for purposes of this Section 8.05, the “Trustee”) pursuant to Section 8.04 hereof in
respect of the outstanding Notes will be held in trust and applied by the Trustee, in accordance
with the provisions of such Notes and this Indenture, to the payment, either directly or through
any Paying Agent (including the Company acting as Paying Agent) as the Trustee may determine, to
the Holders of such Notes of all sums due and to become due thereon in respect of principal,
premium and Liquidated Damages, if any, and interest, but such money need not be segregated from
other funds except to the extent required by law.

     The Company will pay and indemnify the Trustee against any tax, fee or other charge imposed on
or assessed against the cash or non-callable Government Securities deposited pursuant to Section
8.04

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hereof or the principal and interest received in respect thereof other than any such tax, fee
or other charge which by law is for the account of the Holders of the outstanding Notes.

     Notwithstanding anything in this Article 8 to the contrary, the Trustee will deliver or pay to
the Company from time to time upon the request of the Company any money or non-callable Government
Securities held by it as provided in Section 8.04 hereof which, in the opinion of a nationally
recognized firm of independent public accountants expressed in a written certification thereof
delivered to the Trustee (which may be the opinion delivered under Section 8.04(1) hereof), are in
excess of the amount thereof that would then be required to be deposited to effect an equivalent
Legal Defeasance or Covenant Defeasance.

Section 8.06 Repayment to Company.

     Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in
trust for the payment of the principal of, premium or Liquidated Damages, if any, or interest on,
any Note and remaining unclaimed for two years after such principal, premium or Liquidated Damages,
if any, or interest has become due and payable shall be paid to the Company on its request or (if
then held by the Company) will be discharged from such trust; and the Holder of such Note will
thereafter be permitted to look only to the Company for payment thereof, and all liability of the
Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as
trustee thereof, will thereupon cease; provided, however, that the Trustee or such Paying Agent,
before being required to make any such repayment, may at the expense of the Company cause to be
published once, in the New York Times and The Wall Street Journal (national edition), notice that
such money remains unclaimed and that, after a date specified therein, which will not be less than
30 days from the date of such notification or publication, any unclaimed balance of such money then
remaining will be repaid to the Company.

Section 8.07 Reinstatement.

     If the Trustee or Paying Agent is unable to apply any U.S. dollars or non-callable
Government Securities in accordance with Section 8.02 or 8.03 hereof, as the case may be, by reason
of any order or judgment of any court or governmental authority enjoining, restraining or otherwise
prohibiting such application, then the Company’s and the Guarantors’ obligations under this
Indenture and the Notes and the Note Guarantees will be revived and reinstated as though no deposit
had occurred pursuant to Section 8.02 or 8.03 hereof until such time as the Trustee or Paying Agent
is permitted to apply all such money in accordance with Section 8.02 or 8.03 hereof, as the case
may be; provided, however, that, if the Company makes any payment of principal of, premium or
Liquidated Damages, if any, or interest on, any Note following the reinstatement of its
obligations, the Company will be subrogated to the rights of the Holders of such Notes to receive
such payment from the money held by the Trustee or Paying Agent.

ARTICLE 9

AMENDMENT, SUPPLEMENT AND WAIVER

Section 9.01 Without Consent of Holders of Notes.

     Notwithstanding Section 9.02 of this Indenture, the Company, the Guarantors and the
Trustee may amend or supplement this Indenture, the Subsidiary Guarantee Agreement, the Notes or
the Note Guarantees without the consent of any Holders of Notes:

     (1) to cure any ambiguity, defect or inconsistency;

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

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     (3) to provide for the assumption of the Company’s or a Guarantor’s obligations to the
Holders of the Notes and Note Guarantees by a successor to the Company or such Guarantor
pursuant to Article 5 hereof or Article 2 of the Subsidiary Guarantee Agreement;

     (4) to make any change that would provide any additional rights or benefits to the
Holders of the Notes or that does not adversely affect the legal rights hereunder of any
such Holder;

     (5) to comply with requirements of the SEC in order to effect or maintain the
qualification of this Indenture under the TIA;

     (6) to conform the text of this Indenture, the Note Guarantee, the Notes or the
Subsidiary Guarantee Agreement to any provision of the “Description of Notes” section of the
Company’s Offering Memorandum dated November 5, 2004, relating to the initial offering of
the Notes, to the extent that such provision in that “Description of Notes” section was
intended to be a verbatim recitation of a provision of this Indenture, the Note Guarantees,
the Notes or the Subsidiary Guarantee Agreement;

     (7) to provide for the issuance of Additional Notes in accordance with the limitations
set forth in this Indenture as of the date hereof;

     (8) to allow any Guarantor to execute a supplemental indenture and/or a Note Guarantee
with respect to the Notes; or

     (9) to make any other modifications to this Indenture, the Subsidiary Guarantee
Agreement, the Notes or the Note Guarantees of a formal, minor technical nature or necessary
to correct a manifest error or upon Opinion of Counsel to comply with mandatory provisions
of the law of Singapore or other foreign law requirements so long as such modification does
not adversely effect the rights of any Holder of the Notes in any material respect.

     Upon the request of the Company accompanied by a resolution of its Board of Directors
authorizing the execution of any such amended or supplemental indenture, and upon receipt by the
Trustee of the documents described in Section 7.02 hereof, the Trustee will join with the Company
and the Guarantors in the execution of any amended or supplemental indenture authorized or
permitted by the terms of this Indenture and to make any further appropriate agreements and
stipulations that may be therein contained, but the Trustee will not be obligated to enter into
such amended or supplemental indenture that affects its own rights, duties or immunities under this
Indenture or otherwise.

Section 9.02 With Consent of Holders of Notes.

     Except as provided below in this Section 9.02, the Company and the Trustee may amend or
supplement this Indenture (including, without limitation, clause (e) of Section 3.07 and Sections
3.09, 4.10 and 4.15 hereof), the Subsidiary Guarantee Agreement and the Notes and the Note
Guarantees with the consent of the Holders of at least a majority in aggregate principal amount of
the then outstanding Notes (including, without limitation, Additional Notes, if any) voting as a
single class (including, without limitation, consents obtained in connection with a tender offer or
exchange offer for, or purchase of, the Notes), and, subject to Sections 6.04 and 6.07 hereof, any
existing Default or Event of Default (other than a Default or Event of Default in the payment of
the principal of, premium or Liquidated Damages, if any, or interest on, the Notes, except a
payment default resulting from an acceleration that has been rescinded) or compliance with any
provision of this Indenture, the Subsidiary Guarantee Agreement or the Notes or the Note Guarantees
may be waived with the consent of the Holders of a majority in aggregate principal

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amount of the then outstanding Notes (including, without limitation, Additional Notes, if any)
voting as a single class (including, without limitation, consents obtained in connection with a
tender offer or exchange offer for, or purchase of, the Notes). Section 2.08 hereof shall
determine which Notes are considered to be “outstanding” for purposes of this Section 9.02.

     Upon the request of the Company accompanied by a resolution of its Board of Directors
authorizing the execution of any such amended or supplemental indenture, and upon the filing with
the Trustee of evidence satisfactory to the Trustee of the consent of the Holders of Notes as
aforesaid, and upon receipt by the Trustee of the documents described in Section 7.02 hereof, the
Trustee will join with the Company and the Guarantors in the execution of such amended or
supplemental indenture unless such amended or supplemental indenture directly affects the Trustee’s
own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may
in its discretion, but will not be obligated to, enter into such amended or supplemental Indenture.

     It is not be necessary for the consent of the Holders of Notes under this Section 9.02 to
approve the particular form of any proposed amendment, supplement or waiver, but it is sufficient
if such consent approves the substance thereof.

     After an amendment, supplement or waiver under this Section 9.02 becomes effective, the
Company will mail to the Holders of Notes affected thereby a notice briefly describing the
amendment, supplement or waiver. Any failure of the Company to mail such notice, or any defect
therein, will not, however, in any way impair or affect the validity of any such amended or
supplemental indenture or waiver. Subject to Sections 6.04 and 6.07 hereof, the Holders of a
majority in aggregate principal amount of the Notes then outstanding voting as a single class may
waive compliance in a particular instance by the Company with any provision of this Indenture, the
Subsidiary Guarantee Agreement or the Notes or the Note Guarantees. However, without the consent
of each Holder affected, an amendment, supplement or waiver under this Section 9.02 may not (with
respect to any Notes held by a non-consenting Holder):

     (1) reduce the principal amount of Notes whose Holders must consent to an amendment,
supplement or waiver;

     (2) reduce the principal of or change the fixed maturity of any Note or alter or waive
any of the provisions with respect to the redemption of the Notes (except as provided above
with respect to clause (e) of Section 3.07 and Sections 3.09, 4.10 and 4.15 hereof);

     (3) reduce the rate of or change the time for payment of interest, including default
interest, on any Note;

     (4) waive a Default or Event of Default in the payment of principal of, or premium or
Liquidated Damages, if any, or interest on, the Notes (except a rescission of acceleration
of the Notes by the Holders of at least a majority in aggregate principal amount of the then
outstanding Notes and a waiver of the payment default that resulted from such acceleration);

     (5) make any Note payable in money other than that stated in the Notes;

     (6) make any change in the provisions of this Indenture relating to waivers of past
Defaults or the rights of Holders of Notes to receive payments of principal of, or interest
or premium or Liquidated Damages, if any, on, the Notes;

     (7) waive a redemption payment with respect to any Note (other than a payment required
by clause (e) of Section 3.07 and Sections 3.09, 4.10 or 4.15 hereof);

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     (8) release any Guarantor from any of its obligations under its Note Guarantee, this
Indenture or the Subsidiary Guarantee Agreement, except in accordance with the terms of this
Indenture and the Subsidiary Guarantee Agreement; or

     (9) make any change in the preceding amendment and waiver provisions.

Section 9.03 Compliance with Trust Indenture Act.

     Every amendment or supplement to this Indenture or the Notes will be set forth in a
amended or supplemental indenture that complies with the TIA as then in effect.

Section 9.04 Revocation and Effect of Consents.

     Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder
of a Note is a continuing consent by the Holder of a Note and every subsequent Holder of a Note or
portion of a Note that evidences the same debt as the consenting Holder’s Note, even if notation of
the consent is not made on any Note. However, any such Holder of a Note or subsequent Holder of a
Note may revoke the consent as to its Note if the Trustee receives written notice of revocation
before the date the amendment, supplement or waiver becomes effective. An amendment, supplement or
waiver becomes effective in accordance with its terms and thereafter binds every Holder.

Section 9.05 Notation on or Exchange of Notes.

     The Trustee may place an appropriate notation about an amendment, supplement or waiver on
any Note thereafter authenticated. The Company in exchange for all Notes may issue and the Trustee
shall, upon receipt of an Authentication Order, authenticate new Notes that reflect the amendment,
supplement or waiver.

     Failure to make the appropriate notation or issue a new Note will not affect the validity and
effect of such amendment, supplement or waiver.

Section 9.06 Trustee to Sign Amendments, etc.

     The Trustee will sign any amended or supplemental indenture authorized pursuant to this
Article 9 if the amendment or supplement does not adversely affect the rights, duties, liabilities
or immunities of the Trustee. The Company may not sign an amended or supplemental indenture until
the Board of Directors of the Company approves it. In executing any amended or supplemental
indenture, the Trustee will be entitled to receive and (subject to Section 7.01 hereof) will be
fully protected in relying upon, in addition to the documents required by Section 11.04 hereof, an
Officers’ Certificate and an Opinion of Counsel stating that the execution of such amended or
supplemental indenture is authorized or permitted by this Indenture.

ARTICLE 10

SATISFACTION AND DISCHARGE

Section 10.01 Satisfaction and Discharge.

     This Indenture will be discharged and will cease to be of further effect as to all Notes
issued hereunder, when:

     (1) either:

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          (a) all Notes that have been authenticated, except lost, stolen or destroyed Notes that
have been replaced or paid and Notes for whose payment money has theretofore been deposited
in trust and thereafter repaid to the Company, have been delivered to the Trustee for
cancellation; or

          (b) all Notes that have not been delivered to the Trustee for cancellation have become
due and payable by reason of the mailing of a notice of redemption or otherwise or will
become due and payable within one year and the Company or any Guarantor has irrevocably
deposited or caused to be deposited with the Trustee as trust funds in trust solely for the
benefit of the Holders, cash in U.S. dollars, non-callable Government Securities, or a
combination thereof, in such amounts as will be sufficient, without consideration of any
reinvestment of interest, to pay and discharge the entire Indebtedness on the Notes not
delivered to the Trustee for cancellation for principal, premium and Liquidated Damages, if
any, and accrued interest to the date of maturity or redemption;

     (2) no Default or Event of Default has occurred and is continuing on the date of such
deposit (other than a Default or Event of Default resulting from the borrowing of funds to
be applied to such deposit) and the deposit will not result in a breach or violation of, or
constitute a default under, any other instrument to which the Company or any Guarantor is a
party or by which the Company or any Guarantor is bound;

     (3) the Company or any Guarantor has paid or caused to be paid all sums payable by it
under this Indenture; and

     (4) the Company has delivered irrevocable instructions to the Trustee under this
Indenture to apply the deposited money toward the payment of the Notes at maturity or on the
redemption date, as the case may be.

In addition, the Company must deliver an Officers’ Certificate and an Opinion of Counsel to the
Trustee stating that all conditions precedent to satisfaction and discharge have been satisfied.

     Notwithstanding the satisfaction and discharge of this Indenture, if money has been deposited
with the Trustee pursuant to subclause (b) of clause (1) of this Section 10.01, the provisions of
Sections 10.02 and 8.06 hereof will survive. In addition, nothing in this Section 10.01 will be
deemed to discharge those provisions of Section 7.07 hereof, that, by their terms, survive the
satisfaction and discharge of this Indenture.

Section 10.02 Application of Trust Money.

     Subject to the provisions of Section 8.06 hereof, all money deposited with the Trustee
pursuant to Section 10.01 hereof shall be held in trust and applied by it, in accordance with the
provisions of the Notes and this Indenture, to the payment, either directly or through any Paying
Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the
Persons entitled thereto, of the principal (and premium and Liquidated Damages, if any) and
interest for whose payment such money has been deposited with the Trustee; but such money need not
be segregated from other funds except to the extent required by law.

     If the Trustee or Paying Agent is unable to apply any money or Government Securities in
accordance with Section 10.01 hereof by reason of any legal proceeding or by reason of any order or
judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting
such application, the Company’s and any Guarantor’s obligations under this Indenture and the Notes
shall be

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revived and reinstated as though no deposit had occurred pursuant to Section 10.01
hereof; provided that if the Company has made any payment of principal of, premium or Liquidated
Damages, if any, or interest on, any Notes because of the reinstatement of its obligations, the
Company shall be subrogated to the rights of the Holders of such Notes to receive such payment from
the money or Government Securities held by the Trustee or Paying Agent.

ARTICLE 1

MISCELLANEOUS

Section 11.01 Trust Indenture Act Controls.

     If any provision of this Indenture limits, qualifies or conflicts with the duties imposed
by TIA §318(c), the imposed duties will control.

Section 11.02 Notices.

     Any notice or communication by the Company, any Guarantor or the Trustee to the others is
duly given if in writing and delivered in Person or by first class mail (registered or certified,
return receipt requested), facsimile transmission or overnight air courier guaranteeing next day
delivery, to the others’ address:

If to the Company and/or any Guarantor:

STATS ChipPAC Ltd.

10 Ang Mo Kio Street 65

#05-17/20 Techpoint

Singapore 569059

Facsimile No.: (65) 6720-7829

Attention: Michael G. Potter

With a copy to:

Latham & Watkins

80 Raffles Place

#14-20 UOB Plaza 2

Singapore, 048624

Facsimile No.: (65) 6536 1171

Attention: Michael W. Sturrock

If to the Trustee:

U.S. Bank National Association

60 Livingston Avenue EP MN WS3C

St. Paul, MN 55107-2292

Facsimile No.: (651) 495 8097

Attention: Corporate Trust Department

     The Company, any Guarantor or the Trustee, by notice to the others, may designate additional
or different addresses for subsequent notices or communications.

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     All notices and communications (other than those sent to Holders) will be deemed to have been
duly given: at the time delivered by hand, if personally delivered; five Business Days after being
deposited in the mail, postage prepaid, if mailed; when receipt acknowledged, if transmitted by
facsimile; and the next Business Day after timely delivery to the courier, if sent by overnight air
courier guaranteeing next day delivery.

     Any notice or communication to a Holder will be mailed by first class mail, to its address
shown on the register kept by the Registrar. Any notice or communication will also be so mailed to
any Person described in TIA § 313(c), to the extent required by the TIA. Failure to mail a notice
or communication to a Holder or any defect in it will not affect its sufficiency with respect to
other Holders.

     If a notice or communication is mailed in the manner provided above within the time
prescribed, it is duly given, whether or not the addressee receives it.

     If the Company mails a notice or communication to Holders, it will mail a copy to the Trustee
and each Agent at the same time.

Section 11.03 Communication by Holders of Notes with Other Holders of Notes.

     Holders may communicate pursuant to TIA § 312(b) with other Holders with respect to their
rights under this Indenture or the Notes. The Company, the Trustee, the Registrar and anyone else
shall have the protection of TIA § 312(c).

Section 11.04 Certificate and Opinion as to Conditions Precedent.

     Upon any request or application by the Company to the Trustee to take any action under
this Indenture, the Company shall furnish to the Trustee:

     (1) an Officers’ Certificate in form and substance reasonably satisfactory to the
Trustee (which must include the statements set forth in Section 11.05 hereof) stating that,
in the opinion of the signers, all conditions precedent and covenants, if any, provided for
in this Indenture relating to the proposed action have been satisfied; and

     (2) an Opinion of Counsel in form and substance reasonably satisfactory to the Trustee
(which must include the statements set forth in Section 11.05 hereof) stating that, in the
opinion of such counsel, all such conditions precedent and covenants have been satisfied.

Section 11.05 Statements Required in Certificate or Opinion.

     Each certificate or opinion with respect to compliance with a condition or covenant
provided for in this Indenture (other than a certificate provided pursuant to TIA § 314(a)(4)) must
comply with the provisions of TIA § 314(e) and must include:

     (1) a statement that the Person making such certificate or opinion has read such
covenant or condition;

     (2) a brief statement as to the nature and scope of the examination or investigation
upon which the statements or opinions contained in such certificate or opinion are based;

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     (3) a statement that, in the opinion of such Person, he or she has made such
examination or investigation as is necessary to enable him or her to express an informed
opinion as to whether or not such covenant or condition has been satisfied; and

     (4) a statement as to whether or not, in the opinion of such Person, such condition or
covenant has been satisfied.

Section 11.06 Rules by Trustee and Agents.

     The Trustee may make reasonable rules for action by or at a meeting of Holders. The
Registrar or Paying Agent may make reasonable rules and set reasonable requirements for its
functions.

Section 11.07 No Personal Liability of Directors, Officers, Employees and Stockholders.

     No past, present or future director, officer, employee, incorporator or stockholder of
the Company or any Guarantor, as such, will have any liability for any obligations of the Company
or the Guarantors under the Notes, this Indenture, the Note Guarantees, the Subsidiary Guarantee
Agreement or for any claim based on, in respect of, or by reason of, such obligations or their
creation. Each Holder of Notes by accepting a Note waives and releases all such liability. The
waiver and release are part of the consideration for issuance of the Notes. The waiver may not be
effective to waive liabilities under the federal securities laws.

Section 11.08 Governing Law.

     THE INTERNAL LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THIS
INDENTURE, THE NOTES AND THE NOTE GUARANTEES WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF
CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE
REQUIRED THEREBY.

Section 11.09 JURISDICTION.

     TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE COMPANY IRREVOCABLY AGREES THAT
ANY LEGAL SUIT, ACTION OR PROCEEDING BROUGHT BY ANY HOLDER OR BY ANY PERSON WHO CONTROLS SUCH
HOLDER OR THE TRUSTEE ON BEHALF OF SUCH HOLDER ARISING OUT OF OR RELATING TO THIS INDENTURE OR THE
TRANSACTIONS CONTEMPLATED HEREBY MAY BE INSTITUTED IN ANY FEDERAL OR STATE COURT IN THE BOROUGH OF
MANHATTAN, THE CITY OF NEW YORK, NEW YORK, AND IRREVOCABLY WAIVES ANY OBJECTION WHICH IT MAY NOW OR
HEREAFTER HAVE TO THE LAYING OF THE VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING AND ANY CLAIM THAT
ANY SUCH PROCEEDING BROUGHT IN SUCH A COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM, AND
IRREVOCABLY SUBMITS TO THE NON-EXCLUSIVE JURISDICTION OF ANY SUCH COURT IN ANY SUCH SUIT, ACTION OR
PROCEEDING.

Section 11.10 Waiver of Immunity.

     To the extent that the Company has or hereafter may acquire any immunity (sovereign or
otherwise) from any legal action, suit or proceeding, from jurisdiction of any court or from
set-off or any legal process (whether service or notice, attachment in aid or otherwise) with
respect to itself or any of its property, the Company hereby irrevocably waives and agrees not to
plead or claim such immunity in respect of its obligations under this Agreement or the Notes.

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Section 11.11 Process Agent.

     The Company has appointed CT Corporation System (the “Process Agent”), as its agent to
receive on its behalf service of copies of the summons and complaints and any other process which
may be served in any suit, action or proceeding arising out of or relating to this Indenture, the
Notes or the transactions contemplated hereby brought in such New York State or federal court
sitting in The City of New York. The Company further agrees to take any and all action as may be
necessary to maintain such designation and appointment of such agent in full force and effect for a
period of five years from the date of this Indenture. Such service may be made by delivering a
copy of such process to the Company in care of the Process Agent at the address for the Process
Agent and obtaining a receipt therefor, and the Company hereby irrevocably authorizes and directs
such Process Agent to accept such service on its behalf. The Company represents and warrants that
the Process Agent has agreed to act as said agent for service of process, and agrees that service
of process in such manner upon the Process Agent shall be deemed, to the fullest extent permitted
by applicable law, in every respect effective service of process upon the Company in any such suit,
action or proceeding.

Section 11.12 No Adverse Interpretation of Other Agreements.

     This Indenture may not be used to interpret any other indenture, loan or debt agreement
of the Company or its Subsidiaries or of any other Person. Any such indenture, loan or debt
agreement may not be used to interpret this Indenture.

Section 11.13 Successors.

     All agreements of the Company in this Indenture and the Notes will bind its successors.
All agreements of the Trustee in this Indenture will bind its successors. All agreements of each
Guarantor in this Indenture or the Subsidiary Guarantee Agreement will bind its successors, except
as otherwise provided in Section 2.05 of the Subsidiary Guarantee Agreement.

Section 11.14 Severability.

     In case any provision in this Indenture or in the Notes is invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining provisions will not in
any way be affected or impaired thereby.

Section 11.15 Counterpart Originals.

     The parties may sign any number of copies of this Indenture. Each signed copy will be an
original, but all of them together represent the same agreement.

Section 11.16 Currency Indemnity.

     The U.S. dollar is the sole currency of account and payment for all sums payable by the
Company in connection with the Notes. Any amount received or recovered in a currency other than
the U.S. dollar in respect of the Notes (whether as a result of, or for the enforcement of, a
judgment or order of a court of any jurisdiction, in the winding-up or dissolution of the Company
or otherwise) by the Trustee or any Holder in respect of any sum expressed to be due to it from the
Company will constitute a discharge of the Company only to the extent of the U.S. dollar amount
which the recipient is able to purchase with the amount so received or recovered in that other
currency on the date of that receipt or recovery (or, if it is not possible to make that purchase
on that date, on the first date on which it is possible to do so). If that U.S. dollar amount is
less than the U.S. dollar amount expressed to be due to the recipient under any

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Note, the Company will indemnify the recipient against any loss sustained by it as a result.
In any event the Company will indemnify the recipient against the cost of making any such purchase.

     For the purposes of this Section 11.16, it will be sufficient for a Holder or the Trustee to
certify that it would have suffered a loss had an actual purchase of U.S. dollars been made with
the amount so received in that other currency on the date of receipt or recovery (or, if a purchase
of U.S. dollars on such date had not been practicable, on the first date on which it would have
been practicable). These indemnities constitute a separate and independent obligation from the
other obligations of the Company, will give rise to a separate and independent cause of action,
will apply irrespective of any waiver granted by any Holder or the Trustee and will continue in
full force and effect despite any other judgment, order, claim or proof for a liquidated amount in
respect of any sum due under any Note or any other judgment or order.

Section 11.17 Currency Calculation.

     Except as otherwise expressly set forth herein, for purposes of determining compliance with
any U.S. dollar-denominated restriction herein, the U.S. dollar-equivalent amount for purposes
hereof that is denominated in a non-U.S. dollar currency shall be calculated based on the relevant
currency exchange rate in effect on the date such non-U.S. dollar amount is incurred or made, as
the case may be.

Section 11.18 Table of Contents, Headings, etc.

     The Table of Contents, Cross-Reference Table and Headings of the Articles and Sections of
this Indenture have been inserted for convenience of reference only, are not to be considered a
part of this Indenture and will in no way modify or restrict any of the terms or provisions hereof.

[Signatures on following page]

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SIGNATURES

Dated as of July 19, 2005

	 	 	 	 	 	 	 
	 	 	STATS CHIPPAC LTD.
	 
	 	 	 	 	 	 
	 

	 	By:
	 	 	 	/s/ Michael G. Potter
	 	 	 	 	 
	 

	 	 	 	Name:
	 	Michael G. Potter
	 

	 	 	 	Title:
	 	Chief Financial Officer
	 
	 	 	 	 	 	 
	 	 	U.S. BANK NATIONAL ASSOCIATION
	 
	 	 	 	 	 	 
	 

	 	By:
	 	 	 	/s/ Richard H. Prokosch
	 	 	 	 	 
	 

	 	 	 	Name:
	 	Richard H. Prokosch
	 

	 	 	 	Title:
	 	Vice President

Signature Page to Indenture

 

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EXHIBIT A

[Face of Note]

 

CUSIP/ISIN [85771TAD6/US85771TAD6][144A]

[Y8162BAB1/USY816BAB19][Reg S]

7.5% Senior Notes due 2010

	 	 	 
	No. ___

	 	$                    

STATS CHIPPAC LTD.

promises to pay to Cede & Co. or registered assigns,

the principal sum of                                                                                                                          DOLLARS on
July 19, 2010.

Interest Payment Dates: January 19 and July 19

Record Dates: January 5 and July 5

Dated: July 19, 2005

	 	 	 	 	 
	 	STATS CHIPPAC LTD.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

This is one of the Notes referred to

in the within-mentioned Indenture:

U.S. BANK NATIONAL ASSOCIATION,
 as
Trustee

	 	 	 	 	 
	By:

	 	 	 	 
	 

	 	 	 	 
	 

	 	Authorized Signatory	 	 

 

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[Back of Note]

7.5% Senior Notes due 2010

[Insert the Global Note Legend, if applicable pursuant to the provisions of the Indenture]

[Insert the Private Placement Legend, if applicable pursuant to the provisions of the Indenture]

     Capitalized terms used herein have the meanings assigned to them in the Indenture referred to
below unless otherwise indicated.

     (1) Interest. STATS ChipPAC Ltd., a corporation organized under the
laws of the republic of Singapore (the “Company”), promises to pay interest on the principal
amount of this Note at 7.5% per annum from July 19, 2005 until maturity and shall pay the
Liquidated Damages, if any, payable pursuant to Section 5 of the Registration Rights
Agreement referred to below. The Company will pay interest and Liquidated Damages, if any,
semi-annually in arrears on January 19 and July 19 of each year, or if any such day is not a
Business Day, on the next succeeding Business Day (each, an “Interest Payment Date”).
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 the date of issuance; provided that if there is no
existing Default in the payment of interest, and if this Note is authenticated between a
record date referred to on the face hereof and the next succeeding Interest Payment Date,
interest shall accrue from such next succeeding Interest Payment Date; provided further that
the first Interest Payment Date shall be January 19, 2006. The Company will pay interest
(including post-petition interest in any proceeding under any Bankruptcy Law) on overdue
principal and premium, if any, from time to time on demand at a rate that is 1% per annum in
excess of the rate then in effect to the extent lawful; it will pay interest (including
post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments
of interest and Liquidated Damages, if any, (without regard to any applicable grace periods)
from time to time on demand at the same rate to the extent lawful. Interest will be
computed on the basis of a 360-day year of twelve 30-day months.

     (2) Method of Payment. The Company will pay interest on the Notes
(except defaulted interest) and Liquidated Damages, if any, to the Persons who are
registered Holders of Notes at the close of business on the January 5 or July 5 next
preceding the Interest Payment Date, even if such Notes are canceled after such record date
and on or before such Interest Payment Date, except as provided in Section 2.12 of the
Indenture with respect to defaulted interest. The Notes will be payable as to principal,
premium and Liquidated Damages, if any, and interest at the office or agency of the Company
maintained for such purpose within or without the City and State of New York, or, at the
option of the Company, payment of interest and Liquidated Damages, if any, may be made by
check mailed to the Holders at their addresses set forth in the register of Holders;
provided that payment by wire transfer of immediately available funds will be required with
respect to principal of and interest, premium and Liquidated Damages, if any, on, all Global
Notes and all other Notes the Holders of which will have provided wire transfer instructions
to the Company or the Paying Agent. Such payment will be 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.

     (3) Paying Agent and Registrar. Initially, U.S. Bank National
Association, the Trustee under the Indenture, will act as Paying Agent and Registrar. The
Company may change any

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Paying Agent or Registrar without notice to any Holder. The Company or any of its
Subsidiaries may act in any such capacity.

     (4) Indenture. The Company issued the Notes under an Indenture dated
as of July 19, 2005 (the “Indenture”) between the Company and the Trustee. The terms of the
Notes include those stated in the Indenture and those made part of the Indenture by
reference to the TIA. The Notes are subject to all such terms, and Holders are referred to
the Indenture and such Act for a statement of such terms. To the extent any provision of
this Note conflicts with the express provisions of the Indenture, the provisions of the
Indenture shall govern and be controlling. The Notes are unsecured obligations of the
Company. The Notes are guaranteed by the Guarantors pursuant to the terms of the Subsidiary
Guarantee Agreement. The Indenture does not limit the aggregate principal amount of Notes
that may be issued thereunder.

     (5) Optional Redemption.

     (a) At any time prior to July 19, 2008, the Company may, on any one or more
occasions, redeem up to 35% of the aggregate principal amount of Notes issued under this Indenture
(including the issuance of any Additional Notes hereunder) at a redemption price of 106.750% of the
principal amount thereof, plus accrued and unpaid interest and Liquidated Damages, if any, to the
redemption date, with the net cash proceeds of one or more sales of common Equity Interests (other
than Disqualified Stock) of the Company; provided that at least 65% of the aggregate principal
amount of Notes originally issued under this Indenture (excluding Notes held by the Company and its
Subsidiaries) remains outstanding immediately after the occurrence of such redemption and the
redemption occurs within 90 days of the date of the closing of such sale of Equity Interests.

     Unless the Company defaults in the payment of the redemption price, interest will cease to
accrue on the Notes or portions thereof called for redemption on the applicable redemption date.

     (b) At any time prior to July 19, 2010, the Company may also redeem all or a part of
the Notes, upon not less than 30 nor more than 60 days’ prior notice mailed by first-class mail to
each Holder’s registered address, at a redemption price equal to 100% of the principal amount of
Notes redeemed plus the Applicable Premium as of, and accrued and unpaid interest and Liquidated
Damages, if any, to the applicable date of redemption, subject to the rights of Holders on the
relevant record date to receive interest due on the relevant interest payment date.

     (c) If, as a result of (i) any amendment after the date of the Indenture to, or
change after the date of the Indenture in, the laws or regulations of any Relevant Jurisdiction, or
(ii) any change after the date of the Indenture in the general application or general or official
interpretation of the laws or regulations of any Relevant Jurisdiction applicable to the Company,
the Company would be obligated to pay, on the next date for any payment and as a result of that
change, Additional Amounts as described in Section 4.19 of the Indenture with respect to the
Relevant Jurisdiction, which the Company cannot avoid by the use of reasonable measures available
to it, then the Company may redeem all, but not less than all, of the Notes, at any time
thereafter, upon not less than 30 nor more than 60 days’ notice, at a redemption price equal to
100% of the principal amount of Notes redeemed, plus accrued interest and Liquidated Damages, if
any, to the redemption date.

     (6) Mandatory Redemption.

     The Company is not be required to make mandatory redemption or sinking fund payments with
respect to the Notes.

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     (7) Repurchase at the Option of Holder.

     (a) Upon the occurrence of a Change of Control, the Company will make an offer (a
“Change of Control Offer”) to each Holder to repurchase all or any part (equal to $1,000 or an
integral multiple of $1,000) of that Holder’s Notes at a purchase price in cash equal to 101% of
the aggregate principal amount of Notes repurchased plus accrued and unpaid interest and Liquidated
Damages, if any, on the Notes repurchased to the date of purchase, subject to the rights of Holders
on the relevant record date to receive interest due on the relevant interest payment date (the
“Change of Control Payment”). Within 30 days following any Change of Control, the Company will
mail a notice to each Holder setting forth the procedures governing the Change of Control Offer as
required by the Indenture.

     (b) If the Company or a Restricted Subsidiary of the Company consummates any Asset
Sales, on the 365(th) day after an Asset Sale, if the aggregate amount of Excess Proceeds exceeds
$10.0 million, the Company will commence an offer to all Holders of Notes and all holders of other
Indebtedness that is pari passu with the Notes containing provisions similar to those set forth in
this Indenture with respect to offers to purchase or redeem with the proceeds of sales of assets
(an “Asset Sale Offer”) pursuant to Section 3.09 of the Indenture to purchase the maximum principal
amount of Notes and such other pari passu Indebtedness that may be purchased out of the Excess
Proceeds. The offer price in any Asset Sale Offer will be equal to 100% of the principal amount
plus accrued and unpaid interest and Liquidated Damages, if any, to the date of purchase, and will
be payable in cash. If any Excess Proceeds remain after consummation of an Asset Sale Offer, the
Company may use those Excess Proceeds for any purpose not otherwise prohibited by this Indenture.
If the aggregate principal amount of Notes and other pari passu Indebtedness tendered into such
Asset Sale Offer exceeds the amount of Excess Proceeds, the Trustee will select the Notes and such
other pari passu Indebtedness to be purchased on a pro rata basis. Holders of Notes that are the
subject of an offer to purchase will receive an Asset Sale Offer from the Company prior to any
related purchase date and may elect to have such Notes purchased by completing the form entitled
“Option of Holder to Elect Purchase” attached to the Notes.

     (8) Notice of Redemption. Notice of redemption will be mailed at
least 30 days but not more than 60 days before the redemption date to each Holder whose
Notes are to be redeemed at its registered address, except that redemption notices may be
mailed more than 60 days prior to a redemption date if the notice is issued in connection
with a defeasance of the Notes or a satisfaction or discharge of the Indenture. Notes in
denominations larger than $1,000 may be redeemed in part but only in whole multiples of
$1,000, unless all of the Notes held by a Holder are to be redeemed.

     (9) Denominations, Transfer, Exchange. The Notes are in registered
form without coupons in denominations of $1,000 and integral multiples of $1,000. The
transfer of Notes may be registered and Notes may be exchanged as provided in the Indenture.
The Registrar and the Trustee may require a Holder, among other things, to furnish
appropriate endorsements and transfer documents and the Company may require a Holder to pay
any taxes and fees required by law or permitted by the Indenture. The Company need not
exchange or register the transfer of any Note or portion of a Note selected for redemption,
except for the unredeemed portion of any Note being redeemed in part. Also, the Company
need not exchange or register the transfer of any Notes for a period of 15 days before a
selection of Notes to be redeemed or during the period between a record date and the
corresponding Interest Payment Date.

     (10) Persons Deemed Owners. The registered Holder of a Note may be
treated as its owner for all purposes.

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     (11) Amendment, Supplement and Waiver. Subject to certain
exceptions, the Indenture, the Subsidiary Guarantee Agreement, the Notes or the Note
Guarantees may be amended or supplemented with the consent of the Holders of at least a
majority in aggregate principal amount of the then outstanding Notes including Additional
Notes, if any, voting as a single class, and any existing Default or Event or Default or
compliance with any provision of the Indenture or the Notes or the Note Guarantees may be
waived with the consent of the Holders of a majority in aggregate principal amount of the
then outstanding Notes Including Additional Notes, if any, voting as a single class.
Without the consent of any Holder of a Note, the Indenture, the Subsidiary Guarantee
Agreement, the Notes or the Note Guarantees may be amended or supplemented to cure any
ambiguity, defect or inconsistency, to provide for uncertificated Notes in addition to or in
place of certificated Notes, to provide for the assumption of the Company’s or a Guarantor’s
obligations to Holders of the Notes and Note Guarantees in case of a merger or
consolidation, to make any change that would provide any additional rights or benefits to
the Holders of the Notes or that does not adversely affect the legal rights under the
Indenture of any such Holder, to comply with the requirements of the SEC in order to effect
or maintain the qualification of the Indenture under the TIA, to conform the text of the
Indenture, the Subsidiary Guarantee Agreement, the Notes or the Note Guarantees to any
provision of the “Description of Notes” section of the Company’s Offering Memorandum dated
November 5, 2004 relating to the initial offering of the Notes, to the extent that such
provision in that “Description of Notes” section was intended to be a verbatim recitation of
a provision of the Indenture, the Subsidiary Guarantee Agreement, the Notes or the Note
Guarantees; to provide for the issuance of Additional Notes in accordance with the
limitations set forth in the Indenture, or to allow any Guarantor to execute a supplemental
indenture to the Indenture, an amendment to the Subsidiary Guarantee Agreement and/or a Note
Guarantee with respect to the Notes.

     (12) Defaults and Remedies. Events of Default include: (i) default
for 30 days in the payment when due of interest on, or Liquidated Damages, if any, or any
Additional Amounts, with respect to, the Notes; (ii) default in the payment when due (at
Stated Maturity, upon required repurchase, declaration, redemption or otherwise) of the
principal of, or premium, if any, on, the Notes; (iii) failure by the Company or any
Guarantor to comply with the provisions of Section 5.01 of the Indenture hereof; (iv)
failure by the Company or any of its Restricted Subsidiaries for 30 days after notice to the
Company by the Trustee or the Holders of at least 25% in aggregate principal amount of the
Notes then outstanding voting as a single class to comply with any of its obligations under
Section 4.15 of the Indenture other than a failure to purchase the Notes as required
thereunder, Section 4.10 of the Indenture other than a failure to purchase the Notes as
required thereunder, and Sections 4.03, 4.07, 4.08, 4.09, 4.11 and 4.20 of the Indenture;
(v) failure by the Company or any of its Restricted Subsidiaries for 60 days after notice to
the Company by the Trustee or the Holders of at least 25% in aggregate principal amount of
the Notes then outstanding voting as a single class to comply with any of the other
agreements in the Indenture or the Subsidiary Guarantee Agreement; (vi) default under any
mortgage, indenture or instrument under which there may be issued or by which there may be
secured or evidenced any Indebtedness for money borrowed by the Company or any of its
Restricted Subsidiaries (or the payment of which is guaranteed by the Company or any of its
Restricted Subsidiaries), whether such Indebtedness or Guarantee now exists, or is created
after the date of the Indenture, if that default (A) is caused by a failure to pay principal
of such Indebtedness prior to the expiration of the applicable grace period provided in such
Indebtedness on the date of such default (a “Payment Default”) or (B) results in the
acceleration of such Indebtedness prior to its express maturity, and, in each case, the
total unpaid principal amount of any such Indebtedness, together with the total unpaid
principal amount of any other such Indebtedness under which there has been a Payment Default
or the maturity of which has been so accelerated, aggregates $15.0 million or more; (vii)

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any judgment or decree for the payment of money in excess of $15.0 million is entered
against the Company or a Significant Subsidiary, remains outstanding for a period of 60 days
following the judgment and is not discharged, waived or stayed within 10 days after notice
thereof to the Company by the Trustee or the Holders of at least 25% in aggregate principal
amount of the Notes then outstanding voting as a single class; (viii) the Company or any of
its Restricted Subsidiaries that is a Significant Subsidiary or any group of Restricted
Subsidiaries of the Company that, taken together, would constitute a Significant Subsidiary
pursuant to or within the meaning of Bankruptcy Law (A) commences a voluntary case, (B)
consents to the entry of an order for relief against it in an involuntary case, (C) consents
to the appointment of a custodian of it or for all or substantially all of its property, (D)
makes a general assignment for the benefit of its creditors, or (E) generally is not paying
its debts as they become due; (ix) a court of competent jurisdiction enters an order or
decree under any Bankruptcy Law that (A) is for relief against the Company or any of its
Restricted Subsidiaries that is a Significant Subsidiary or any group of Restricted
Subsidiaries of the Company that, taken together, would constitute a Significant Subsidiary
in an involuntary case, (B) appoints a custodian of the Company or any of its Restricted
Subsidiaries that is a Significant Subsidiary or any group of Restricted Subsidiaries of the
Company that, taken together, would constitute a Significant Subsidiary or for all or
substantially all of the property of the Company or any of its Restricted Subsidiaries that
is a Significant Subsidiary or any group of Restricted Subsidiaries of the Company that,
taken together, would constitute a Significant Subsidiary or (C) orders the liquidation of
the Company or any of its Restricted Subsidiaries that is a Significant Subsidiary or any
group of Restricted Subsidiaries of the Company that, taken together, would constitute a
Significant Subsidiary and (D) the order or decree remains unstayed and in effect for 60
consecutive days; or (x) except as permitted by the Indenture, any Note Guarantee of a
Significant Subsidiary is held in any judicial proceeding to be unenforceable or invalid or
ceases for any reason to be in full force and effect, other than in compliance with the
terms of the Note Guarantee, or any Guarantor, or any Person acting on behalf of any
Guarantor, denies or disaffirms its obligations under its Note Guarantee.

If any Event of Default occurs and is continuing, the Trustee or the Holders of at
least 25% in aggregate principal amount of the then outstanding Notes may declare all the
Notes to be due and payable immediately, except as provided in the Indenture.
Notwithstanding the foregoing, in the case of an Event of Default arising from certain
events of bankruptcy or insolvency, all outstanding Notes will become due and payable
immediately without further action or notice. Holders may not enforce the Indenture or the
Notes except as provided in the Indenture. Subject to certain limitations, Holders of a
majority in aggregate principal amount of the then outstanding Notes may direct the Trustee
in its exercise of any trust or power. The Trustee may withhold from Holders of the Notes
notice of any continuing Default or Event of Default (except a Default or Event of Default
relating to the payment of principal or interest or premium or Liquidated Damages, if any,)
if it determines that withholding notice is in their interest. The Holders of a majority in
aggregate principal amount of the then outstanding Notes by notice to the Trustee may, on
behalf of the Holders of all of the Notes, rescind an acceleration or waive any existing
Default or Event of Default and its consequences under the Indenture except a continuing
Default or Event of Default in the payment of interest or premium or Liquidated Damages, if
any, on, or the principal of, the Notes. The Company is required to deliver to the Trustee
annually a statement regarding compliance with the Indenture, and the Company is required,
upon becoming aware of any Default or Event of Default, to deliver to the Trustee a
statement specifying such Default or Event of Default.

     (13) Trustee Dealings with Company. The Trustee, in its individual
or any other capacity, may make loans to, accept deposits from, and perform services for the
Company or its

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Affiliates, and may otherwise deal with the Company or its Affiliates, as if it were
not the Trustee.

     (14) No Recourse Against Others. A director, officer, employee,
incorporator or stockholder of the Company or any of the Guarantors, as such, will not have
any liability for any obligations of the Company or the Guarantors under the Notes, the Note
Guarantees, the Indenture or the Subsidiary Guarantee Agreement or for any claim based on,
in respect of, or by reason of, such obligations or their creation. Each Holder by
accepting a Note waives and releases all such liability. The waiver and release are part of
the consideration for the issuance of the Notes.

     (15) Authentication. This Note will not be valid until authenticated
by the manual signature of the Trustee or an authenticating agent.

     (16) Abbreviations. 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).

     (17) Additional Rights of Holders of Restricted Global Notes and
Restricted Definitive Notes. In addition to the rights provided to Holders of Notes
under the Indenture, Holders of Restricted Global Notes and Restricted Definitive Notes will
have all the rights set forth in the Registration Rights Agreement dated as of July 19,
2005, among the Company, the Guarantors and the other parties named on the signature pages
thereof or, in the case of Additional Notes, Holders of Restricted Global Notes and
Restricted Definitive Notes will have the rights set forth in one or more registration
rights agreements, if any, among the Company, the Guarantors and the other parties thereto,
relating to rights given by the Company and the Guarantors to the purchasers of any
Additional Notes (collectively, the “Registration Rights Agreement”).

     (18) CUSIP Numbers. Pursuant to a recommendation promulgated by the
Committee on Uniform Security Identification Procedures, the Company has caused CUSIP
numbers to be printed on the Notes, and the Trustee may use CUSIP numbers in notices of
redemption as a convenience to Holders. No representation is made as to the accuracy of
such numbers either as printed on the Notes or as contained in any notice of redemption, and
reliance may be placed only on the other identification numbers placed thereon.

     (19) GOVERNING LAW. THE INTERNAL LAW OF THE STATE OF NEW YORK WILL
GOVERN AND BE USED TO CONSTRUE THE INDENTURE, THIS NOTE AND THE NOTE GUARANTEES WITHOUT
GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE
APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.

     The Company will furnish to any Holder upon written request and without charge a copy of the
Indenture and/or the Registration Rights Agreement. Requests may be made to:

STATS ChipPAC Ltd.

10 Ang Mo Kio Street 65

#05-17/20 Techpoint

Singapore 569059

Facsimile No.: (65) 6720-7829

Attention: Michael G. Potter

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Assignment Form

     To assign this Note, fill in the form below:

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

	 	 
	 

	 	(Insert assignee’s legal name)

 

(Insert assignee’s soc. sec. or tax I.D. no.)

 

 

 

 

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

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

Date: _______________

 
	 	 	 
	 
	 	Your Signature:                                                                      
	 
	 	     (Sign exactly as your name appears on the face of this Note)

Signature Guarantee*:                                         

 

* Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor
acceptable to the Trustee).

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Option of Holder to Elect Purchase

     If you want to elect to have this Note purchased by the Company pursuant to Section 4.10,
4.15 or 4.16 of the Indenture, check the appropriate box below:

	 	 	 	 	 	 	 	 	 
	 
	 	oSection 4.10
	 	oSection 4.15
	 	oSection 4.16
	 	 

     If you want to elect to have only part of the Note purchased by the Company pursuant to
Section 4.10, Section 4.15 or Section 4.16 of the Indenture, state the amount you elect to have
purchased:

$_______________

Date: _______________

 
	 	 	 
	 
	 	Your Signature:                                                                      
	 
	 	     (Sign exactly as your name appears on the face of this Note)

 
	 	 	 
	 
	 	Tax Identification No.:                                                             

Signature Guarantee*:                                         

 

* Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor
acceptable to the Trustee).

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Schedule of Exchanges of Interests in the Global Note *

     The following exchanges of a part of this Global Note for an interest in another Global
Note or for a Definitive Note, or exchanges of a part of another Global Note or Definitive Note for
an interest in this Global Note, have been made:

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Principal Amount of	 	 
	 	 	 	 	 	 	this Global Note	 	 
	 	 	Amount of decrease in	 	Amount of increase in	 	following such	 	Signature of authorized
	 	 	Principal Amount of	 	Principal Amount of	 	decrease	 	officer of Trustee or
	Date of Exchange	 	this Global Note	 	this Global Note	 	(or increase)	 	Custodian
	 
	 	 	 	 	 	 	 	 

 

* This schedule should be included only if the Note is issued in global form

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EXHIBIT B

FORM OF CERTIFICATE OF TRANSFER

STATS ChipPAC Ltd.

10 Ang Mo Kio Street 65

#05-17/20 Techpoint

Singapore 569059

U.S. Bank National Association

     60 Livingston Avenue

     St Paul., MN 55107 2292

     Re: 7.5% Senior Notes due 2010 of STATS ChipPAC Ltd.

     Reference is hereby made to the Indenture, dated as of July 19, 2005 (the “Indenture”),
between STATS ChipPAC Ltd., as issuer (the “Company”), and U.S. Bank National Association, as
trustee. Capitalized terms used but not defined herein shall have the meanings given to them in
the Indenture.

     ___, (the “Transferor”) owns and proposes to transfer the Note[s] or interest
in such Note[s] specified in Annex A hereto, in the
principal amount of $___ in such
Note[s] or interests (the “Transfer”), to
___ (the “Transferee”), as
further specified in Annex A hereto. In connection with the Transfer, the Transferor hereby
certifies that:

[CHECK ALL THAT APPLY]

     1.  ̈ Check if Transferee will take delivery of a beneficial interest in the 144A
Global Note or a Restricted Definitive Note pursuant to Rule 144A. The Transfer is being
effected pursuant to and in accordance with Rule 144A under the Securities Act of 1933, as amended
(the “Securities Act”), and, accordingly, the Transferor hereby further certifies that the
beneficial interest or Definitive Note is being transferred to a Person that the Transferor
reasonably believes is purchasing the beneficial interest or Definitive Note for its own account,
or for one or more accounts with respect to which such Person exercises sole investment discretion,
and such Person and each such account is a “qualified institutional buyer” within the meaning of
Rule 144A in a transaction meeting the requirements of Rule 144A, and such Transfer is in
compliance with any applicable blue sky securities laws of any state of the United States. Upon
consummation of the proposed Transfer in accordance with the terms of the Indenture, the
transferred beneficial interest or Definitive Note will be subject to the restrictions on transfer
enumerated in the Private Placement Legend printed on the 144A Global Note and/or the Restricted
Definitive Note and in the Indenture and the Securities Act.

     2.  ̈ Check if Transferee will take delivery of a beneficial interest in the
Regulation S Global Note or a Restricted Definitive Note pursuant to Regulation S. The
Transfer is being effected pursuant to and in accordance with Rule 903 or Rule 904 under the
Securities Act and, accordingly, the Transferor hereby further certifies that (i) the Transfer is
not being made to a Person in the United States and (x) at the time the buy order was originated,
the Transferee was outside the United States or such Transferor and any Person acting on its behalf
reasonably believed and believes that the Transferee was outside the United States or (y) the
transaction was executed in, on or through the facilities of a designated offshore securities
market and neither such Transferor nor any Person acting on its behalf knows that the transaction
was prearranged with a buyer in the United States, (ii) no directed selling

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efforts have been made in contravention of the requirements of Rule 903(b) or Rule 904(b) of
Regulation S under the Securities Act, (iii) the transaction is not part of a plan or scheme to
evade the registration requirements of the Securities Act and (iv) if the proposed transfer is
being made prior to the expiration of the Restricted Period, the transfer is not being made to a
U.S. Person or for the account or benefit of a U.S. Person (other than an Initial Purchaser). Upon
consummation of the proposed transfer in accordance with the terms of the Indenture, the
transferred beneficial interest or Definitive Note will be subject to the restrictions on Transfer
enumerated in the Private Placement Legend printed on the Regulation S Global Note and/or the
Restricted Definitive Note and in the Indenture and the Securities Act.

     3.  ̈ Check and complete if Transferee will take delivery of a beneficial interest
in the IAI Global Note or a Restricted Definitive Note pursuant to any provision of the Securities
Act other than Rule 144A or Regulation S. The Transfer is being effected in compliance with
the transfer restrictions applicable to beneficial interests in Restricted Global Notes and
Restricted Definitive Notes and pursuant to and in accordance with the Securities Act and any
applicable blue sky securities laws of any state of the United States, and accordingly the
Transferor hereby further certifies that (check one):

     (a)  ̈ such Transfer is being effected pursuant to and in accordance with Rule
144 under the Securities Act;

or

     (b)  ̈ such Transfer is being effected to the Company or a subsidiary thereof;

or

     (c)  ̈ such Transfer is being effected pursuant to an effective registration
statement under the Securities Act and in compliance with the prospectus delivery
requirements of the Securities Act;

or

     (d)  ̈ such Transfer is being effected to an Institutional Accredited Investor
and pursuant to an exemption from the registration requirements of the Securities Act
other than Rule 144A, Rule 144, Rule 903 or Rule 904, and the Transferor hereby further
certifies that it has not engaged in any general solicitation within the meaning of
Regulation D under the Securities Act and the Transfer complies with the transfer
restrictions applicable to beneficial interests in a Restricted Global Note or Restricted
Definitive Notes and the requirements of the exemption claimed, which certification is
supported by (1) a certificate executed by the Transferee in the form of Exhibit D to the
Indenture and (2) an Opinion of Counsel provided by the Transferor or the Transferee (a
copy of which the Transferor has attached to this certification), to the effect that such
Transfer is in compliance with the Securities Act. Upon consummation of the proposed
transfer in accordance with the terms of the Indenture, the transferred beneficial
interest or Definitive Note will be subject to the restrictions on transfer enumerated in
the Private Placement Legend printed on the IAI Global Note and/or the Restricted
Definitive Notes and in the Indenture and the Securities Act.

     4.  ̈ Check if Transferee will take delivery of a beneficial interest in an
Unrestricted Global Note or of an Unrestricted Definitive Note.

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     (a)  ̈ Check if Transfer is pursuant to Rule 144. (i) The Transfer is being effected
pursuant to and in accordance with Rule 144 under the Securities Act and in compliance with the
transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any
state of the United States and (ii) the restrictions on transfer contained in the Indenture and the
Private Placement Legend are not required in order to maintain compliance with the Securities Act.
Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the
transferred beneficial interest or Definitive Note will no longer be subject to the restrictions on
transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes, on
Restricted Definitive Notes and in the Indenture.

     (b)  ̈ Check if Transfer is Pursuant to Regulation S. (i) The Transfer is being
effected pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act and in
compliance with the transfer restrictions contained in the Indenture and any applicable blue sky
securities laws of any state of the United States and (ii) the restrictions on transfer contained
in the Indenture and the Private Placement Legend are not required in order to maintain compliance
with the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms
of the Indenture, the transferred beneficial interest or Definitive Note will no longer be subject
to the restrictions on transfer enumerated in the Private Placement Legend printed on the
Restricted Global Notes, on Restricted Definitive Notes and in the Indenture.

     (c)  ̈ Check if Transfer is Pursuant to Other Exemption. (i) The Transfer is being
effected pursuant to and in compliance with an exemption from the registration requirements of the
Securities Act other than Rule 144, Rule 903 or Rule 904 and in compliance with the transfer
restrictions contained in the Indenture and any applicable blue sky securities laws of any State of
the United States and (ii) the restrictions on transfer contained in the Indenture and the Private
Placement Legend are not required in order to maintain compliance with the Securities Act. Upon
consummation of the proposed Transfer in accordance with the terms of the Indenture, the
transferred beneficial interest or Definitive Note will not be subject to the restrictions on
transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes or
Restricted Definitive Notes and in the Indenture.

     This certificate and the statements contained herein are made for your benefit and the benefit
of the Company.

	 	 	 	 	 
	 	 	 
	 

	 	 	 	[Insert Name of Transferor]
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Name:
	 

	 	 	 	Title:

  Dated:                                         

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ANNEX A TO CERTIFICATE OF TRANSFER

	1.	 	The Transferor owns and proposes to transfer the following:

[CHECK ONE OF (a) OR (b)]

(a)  ̈ a beneficial interest in the:

	 	(i)	 	 ̈ 144A Global Note (CUSIP ___), or
	 
	 	(ii)	 	 ̈ Regulation S Global Note (CUSIP ___), or
	 
	 	(iii)	 	 ̈ IAI Global Note (CUSIP ___); or

(b)  ̈ a Restricted Definitive Note.

	2.	 	After the Transfer the Transferee will hold:

[CHECK ONE]

(a)  ̈ a beneficial interest in the:

	 	(i)	 	 ̈ 144A Global Note (CUSIP ___), or
	 
	 	(ii)	 	 ̈ Regulation S Global Note (CUSIP ___), or
	 
	 	(iii)	 	 ̈ IAI Global Note (CUSIP ___); or
	 
	 	(iv)	 	 ̈ Unrestricted Global Note (CUSIP ___); or

(b)  ̈ a Restricted Definitive Note; or

(c)  ̈ an Unrestricted Definitive Note,

in accordance with the terms of the Indenture.

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EXHIBIT C

FORM OF CERTIFICATE OF EXCHANGE

STATS ChipPAC Ltd.

10 Ang Mo Kio Street 65

#05-17/20 Techpoint

Singapore 569059

U.S. Bank National Association

     60 Livingston Avenue

     St Paul., MN 55107 2292

     Re: 7.5%Senior Notes due 2010 of STATS ChipPAC Ltd.

(CUSIP ____________)

     Reference is hereby made to the Indenture, dated as of July 19, 2005 (the “Indenture”),
between STATS ChipPAC Ltd., as issuer (the “Company”), and U.S. Bank National Association, as
trustee. Capitalized terms used but not defined herein shall have the meanings given to them in
the Indenture.

     ___, (the “Owner”) owns and proposes to exchange the Note[s] or
interest in such Note[s] specified herein, in the principal
amount of $___ in such Note[s]
or interests (the “Exchange”). In connection with the Exchange, the Owner hereby certifies that:

     1. Exchange of Restricted Definitive Notes or Beneficial Interests in a Restricted Global
Note for Unrestricted Definitive Notes or Beneficial Interests in an Unrestricted Global Note

     (a)  ̈ Check if Exchange is from beneficial interest in a Restricted Global Note to
beneficial interest in an Unrestricted Global Note. In connection with the Exchange of the Owner’s
beneficial interest in a Restricted Global Note for a beneficial interest in an Unrestricted Global
Note in an equal principal amount, the Owner hereby certifies (i) the beneficial interest is being
acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in
compliance with the transfer restrictions applicable to the Global Notes and pursuant to and in
accordance with the Securities Act of 1933, as amended (the “Securities Act”), (iii) the
restrictions on transfer contained in the Indenture and the Private Placement Legend are not
required in order to maintain compliance with the Securities Act and (iv) the beneficial interest
in an Unrestricted Global Note is being acquired in compliance with any applicable blue sky
securities laws of any state of the United States.

     (b)  ̈ Check if Exchange is from beneficial interest in a Restricted Global Note to
Unrestricted Definitive Note. In connection with the Exchange of the Owner’s beneficial interest
in a Restricted Global Note for an Unrestricted Definitive Note, the Owner hereby certifies (i) the
Definitive Note is being acquired for the Owner’s own account without transfer, (ii) such Exchange
has been effected in compliance with the transfer restrictions applicable to the Restricted Global
Notes and pursuant to and in accordance with the Securities Act, (iii) the restrictions on transfer
contained in the Indenture and the Private Placement Legend are not required in order to maintain
compliance with the Securities Act and (iv) the Definitive Note is being acquired in compliance
with any applicable blue sky securities laws of any state of the United States.

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     (c)  ̈ Check if Exchange is from Restricted Definitive Note to beneficial interest in an
Unrestricted Global Note. In connection with the Owner’s Exchange of a Restricted Definitive Note
for a beneficial interest in an Unrestricted Global Note, the Owner hereby certifies (i) the
beneficial interest is being acquired for the Owner’s own account without transfer, (ii) such
Exchange has been effected in compliance with the transfer restrictions applicable to Restricted
Definitive Notes and pursuant to and in accordance with the Securities Act, (iii) the restrictions
on transfer contained in the Indenture and the Private Placement Legend are not required in order
to maintain compliance with the Securities Act and (iv) the beneficial interest is being acquired
in compliance with any applicable blue sky securities laws of any state of the United States.

     (d)  ̈ Check if Exchange is from Restricted Definitive Note to Unrestricted Definitive
Note. In connection with the Owner’s Exchange of a Restricted Definitive Note for an Unrestricted
Definitive Note, the Owner hereby certifies (i) the Unrestricted Definitive Note is being acquired
for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance
with the transfer restrictions applicable to Restricted Definitive Notes and pursuant to and in
accordance with the Securities Act, (iii) the restrictions on transfer contained in the Indenture
and the Private Placement Legend are not required in order to maintain compliance with the
Securities Act and (iv) the Unrestricted Definitive Note is being acquired in compliance with any
applicable blue sky securities laws of any state of the United States.

     2. Exchange of Restricted Definitive Notes or Beneficial Interests in Restricted Global
Notes for Restricted Definitive Notes or Beneficial Interests in Restricted Global Notes

     (a)  ̈ Check if Exchange is from beneficial interest in a Restricted Global Note to
Restricted Definitive Note. In connection with the Exchange of the Owner’s beneficial interest in
a Restricted Global Note for a Restricted Definitive Note with an equal principal amount, the Owner
hereby certifies that the Restricted Definitive Note is being acquired for the Owner’s own account
without transfer. Upon consummation of the proposed Exchange in accordance with the terms of the
Indenture, the Restricted Definitive Note issued will continue to be subject to the restrictions on
transfer enumerated in the Private Placement Legend printed on the Restricted Definitive Note and
in the Indenture and the Securities Act.

     (b)  ̈ Check if Exchange is from Restricted Definitive Note to beneficial interest in a
Restricted Global Note. In connection with the Exchange of the Owner’s Restricted Definitive Note
for a beneficial interest in the [CHECK ONE]
 ̈ 144A Global Note,
 ̈ Regulation S Global
Note,  ̈ IAI Global Note with an equal principal amount, the Owner hereby certifies (i) the
beneficial interest is being acquired for the Owner’s own account without transfer and (ii) such
Exchange has been effected in compliance with the transfer restrictions applicable to the
Restricted Global Notes and pursuant to and in accordance with the Securities Act, and in
compliance with any applicable blue sky securities laws of any state of the United States. Upon
consummation of the proposed Exchange in accordance with the terms of the Indenture, the beneficial
interest issued will be subject to the restrictions on transfer enumerated in the Private Placement
Legend printed on the relevant Restricted Global Note and in the Indenture and the Securities Act.

     This certificate and the statements contained herein are made for your benefit and the benefit
of the Company.

	 	 	 	 	 
	 	 	 
	 	 	[Insert Name of Transferor]
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Name:
	 

	 	 	 	Title:

Dated: ______________________

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EXHIBIT D

FORM OF CERTIFICATE FROM

ACQUIRING INSTITUTIONAL ACCREDITED INVESTOR

STATS ChipPAC Ltd.

10 Ang Mo Kio Street 65

#05-17/20 Techpoint

Singapore 569059

[Trustee]

[address]

     Re: 7.5% Senior Notes due 2010 of STATS ChipPAC Ltd.

     Reference is hereby made to the Indenture, dated as of July 19, 2005 (the “Indenture”),
between STATS ChipPAC Ltd., as issuer (the “Company”), and Trustee, as trustee. Capitalized terms
used but not defined herein shall have the meanings given to them in the Indenture.

     In connection with our proposed purchase of $___aggregate principal amount of:

     (a)  ̈ a beneficial interest in a Global Note, or

     (b)  ̈ a Definitive Note,

     we confirm that:

     1. We understand that any subsequent transfer of the Notes or any interest therein is subject
to certain restrictions and conditions set forth in the Indenture and the undersigned agrees to be
bound by, and not to resell, pledge or otherwise transfer the Notes or any interest therein except
in compliance with, such restrictions and conditions and the Securities Act of 1933, as amended
(the “Securities Act”).

     2. We understand that the offer and sale of the Notes have not been registered under the
Securities Act, and that the Notes and any interest therein may not be offered or sold except as
permitted in the following sentence. We agree, on our own behalf and on behalf of any accounts for
which we are acting as hereinafter stated, that if we should sell the Notes or any interest
therein, we will do so only (A) to the Company or any subsidiary thereof, (B) in accordance with
Rule 144A under the Securities Act to a “qualified institutional buyer” (as defined therein), (C)
to an institutional “accredited investor” (as defined below) that, prior to such transfer,
furnishes (or has furnished on its behalf by a U.S. broker-dealer) to you and to the Company a
signed letter substantially in the form of this letter and an Opinion of Counsel in form reasonably
acceptable to the Company to the effect that such transfer is in compliance with the Securities
Act, (D) outside the United States in accordance with Rule 904 of Regulation S under the Securities
Act, (E) pursuant to the provisions of Rule 144(k) under the Securities Act or (F) pursuant to an
effective registration statement under the Securities Act, and we further agree to provide to any
Person purchasing the Definitive Note or beneficial interest in a Global Note from us in a
transaction meeting the requirements of clauses (A) through (E) of this paragraph a notice advising
such purchaser that resales thereof are restricted as stated herein.

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     3. We understand that, on any proposed resale of the Notes or beneficial interest therein, we
will be required to furnish to you and the Company such certifications, legal opinions and other
information as you and the Company may reasonably require to confirm that the proposed sale
complies with the foregoing restrictions. We further understand that the Notes purchased by us
will bear a legend to the foregoing effect.

     4. We are an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or
(7) of Regulation D under the Securities Act) and have such knowledge and experience in financial
and business matters as to be capable of evaluating the merits and risks of our investment in the
Notes, and we and any accounts for which we are acting are each able to bear the economic risk of
our or its investment.

     5. We are acquiring the Notes or beneficial interest therein purchased by us for our own
account or for one or more accounts (each of which is an institutional “accredited investor”) as to
each of which we exercise sole investment discretion.

     You and the Company are entitled to rely upon this letter and are irrevocably authorized to
produce this letter or a copy hereof to any interested party in any administrative or legal
proceedings or official inquiry with respect to the matters covered hereby.

	 	 	 	 	 
	 	 	 
	 

	 	 	 	[Insert Name of Accredited Investor]
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Name:
	 

	 	 	 	Title:

Dated: _______________________

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EXHIBIT E

[FORM OF NOTATION OF GUARANTEE]

     For value received, each Guarantor (which term includes any successor Person under the
Subsidiary Guarantee Agreement (as defined below)) has, jointly and severally, unconditionally
guaranteed, to the extent set forth in the Subsidiary Guarantee Agreement and subject to the
provisions in the Subsidiary Guarantee Agreement dated as of July 19, 2005 (the “Subsidiary
Guarantee Agreement”) among STATS ChipPAC, Ltd. (the “Company”), the Guarantors party thereto and
U.S. Bank National Association, as trustee (the “Trustee”), (a) the due and punctual payment of the
principal of, premium and Liquidated Damages, if any, and interest on, the Notes, whether at
maturity, by acceleration, redemption or otherwise, the due and punctual payment of interest on
overdue principal of and interest on the Notes, if any, if lawful, and the due and punctual
performance of all other obligations of the Company to the Holders or the Trustee all in accordance
with the terms of the Indenture and the Subsidiary Guarantee Agreement and (b) in case of any
extension of time of payment or renewal of any Notes or any of such other obligations, that the
same will be promptly paid in full when due or performed in accordance with the terms of the
extension or renewal, whether at stated maturity, by acceleration or otherwise. The obligations of
the Guarantors to the Holders of Notes and to the Trustee pursuant to the Note Guarantee, the
Indenture and the Subsidiary Guarantee Agreement are expressly set forth in Article 2 of the
Subsidiary Guarantee Agreement and reference is hereby made to the Subsidiary Guarantee Agreement
for the precise terms of the Note Guarantee.

     Capitalized terms used but not defined herein have the meanings given to them in the
Indenture.

	 	 	 	 	 
	 	[Name of Guarantor(s)]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

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EXHIBIT F

[FORM OF SUBSIDIARY GUARANTEE AGREEMENT]

F-1exv4w2

 

Exhibit 4.2

EXECUTION COPY

 

REGISTRATION RIGHTS AGREEMENT

Dated as of July 19, 2005

by and among

STATS ChipPac Ltd.,

the Guarantor Signatories Hereto

and

Credit Suisse First Boston (Singapore) Limited

Deutsche Bank AG, Singapore Branch

 

 

 

     This Registration Rights Agreement (this “Agreement”) is made and entered into as of
July 19, 2005, by and among STATS ChipPac Ltd., a corporation organized under the laws of the
Republic of Singapore (the “Company”) and the subsidiaries of the Company listed on the
signature pages hereto (the “Guarantors”), and Credit Suisse First Boston (Singapore)
Limited (“CSFB”) and Deutsche Bank AG, Singapore Branch (“Deutsche Bank”) as joint lead managers
and joint book-running managers, (collectively the “Joint Lead Managers”) and each of the other
Initial Purchasers (as defined herein) named in Schedule A of the Purchase Agreement (as
defined below) (collectively with the Joint Lead Managers, the “Initial Purchasers”, which term
shall also include any initial purchaser substituted as hereinafter provided in Section 11 of the
Purchase Agreement (as defined herein)), for whom CSFB and Deutsche Bank are acting as
representatives (in such capacity, the “Representatives”), with respect to the issuance and sale
by the Company and the purchase, or the procurement of purchasers, by the Initial Purchasers,
acting severally and not jointly, of the respective principal amounts set forth in the Purchase
Agreement of the Company’s 7.5% Series A Senior Notes due 2010 (the “Series A Notes”)
pursuant to the Purchase Agreement, dated July 12, 2005, (the “Purchase Agreement”), by and
among the Company, the Guarantors and the Initial Purchasers.

     In order to induce the Initial Purchasers to purchase the Series A Notes, the Company has
agreed to provide the registration rights set forth in this Agreement. The execution and delivery
of this Agreement is a condition to the obligations of the Initial Purchasers set forth in Section
5 of the Purchase Agreement. Capitalized terms used herein and not otherwise defined shall have
the meaning assigned to them the Indenture, dated July 19, 2005, between the Company and U.S. Bank
National Association, as Trustee, relating to the Series A Notes and the Series B Notes (the
“Indenture”).

     The parties hereby agree as follows:

SECTION 1. DEFINITIONS

     As used in this Agreement, the following capitalized terms shall have the following meanings:

     Act: The Securities Act of 1933, as amended, and the rules and regulations of the
Commission promulgated thereunder.

     Affiliate: As defined in Rule 144 of the Act.

     Broker-Dealer: Any broker or dealer registered under the Exchange Act.

     Certificated Securities: Definitive Notes, as defined in the Indenture.

     Closing Date: The date hereof.

     Commission: The Securities and Exchange Commission.

     Consummate: An Exchange Offer shall be deemed “Consummated” for purposes of this
Agreement upon the occurrence of (a) the effectiveness under the Act of the Exchange Offer
Registration Statement relating to the Series B Notes to be issued in the Exchange Offer, (b) the

 

 

maintenance of such Exchange Offer Registration Statement continuously effective and the
keeping of the Exchange Offer open for a period not less than the period required pursuant to
Section 3(b) hereof and (c) the delivery by the Company to the Registrar under the Indenture of
Series B Notes in the same aggregate principal amount as the aggregate principal amount of Series A
Notes validly tendered by Holders thereof pursuant to the Exchange Offer.

     Consummation Deadline: As defined in Section 3(b) hereof.

     Effectiveness Deadline: As defined in Section 3(a) and 4(a) hereof.

     Exchange Act: The Securities Exchange Act of 1934, as amended, and the rules and
regulations of the Commission promulgated thereunder.

     Exchange Offer: The exchange and issuance by the Company of a principal amount of
Series B Notes (which shall be registered pursuant to the Exchange Offer Registration Statement)
equal to the outstanding principal amount of Series A Notes that are validly tendered by such
Holders in connection with such exchange and issuance.

     Exchange Offer Registration Statement: The Registration Statement relating to the
Exchange Offer, including the related Prospectus.

     Exempt Resales: The transactions in which the Initial Purchasers propose to sell the
Series A Notes to certain “qualified institutional buyers,” as such term is defined in Rule 144A
under the Act and pursuant to Regulation S under the Act.

     Filing Deadline: As defined in Sections 3(a) and 4(a) hereof.

     Holders: As defined in Section 2 hereof.

     Notes: The Series A Notes and the Series B Notes.

     Prospectus: The prospectus included in a Registration Statement at the time such
Registration Statement is declared effective (including, without limitation, a prospectus that
discloses information previously omitted from a prospectus filed as part of an effective
Registration Statement in reliance upon Rule 430A under the Act), as amended or supplemented by any
prospectus supplement and by all other amendments thereto, including post-effective amendments, and
all material incorporated by reference into such Prospectus.

     Recommencement Date: As defined in Section 6(d) hereof.

     Registration Default: As defined in Section 5 hereof.

     Registration Statement: Any registration statement of the Company and the Guarantors
relating to (a) an offering of Series B Notes pursuant to an Exchange Offer or (b) the registration
for resale of Transfer Restricted Securities pursuant to the Shelf Registration Statement, in each
case, (i) that is filed pursuant to the provisions of this Agreement and (ii) including the
Prospectus included therein, all amendments and supplements thereto (including post-effective
amendments) and all exhibits and material incorporated by reference therein.

2

 

     Regulation S: Regulation S promulgated under the Act.

     Rule 144: Rule 144 promulgated under the Act.

     Rule 144A: Rule 144A promulgated under the Act.

     Series B Notes: The Company’s 7.5% Series B Senior Notes due 2010 to be issued
pursuant to the Indenture: (i) in the Exchange Offer or (ii) as contemplated by Section 6 hereof.

     Shelf Registration Statement: As defined in Section 4 hereof.

     Suspension Notice: As defined in Section 6(d) hereof.

     TIA: The Trust Indenture Act of 1939 (15 U.S.C. Section 77aaa-77bbbb) as in effect on
the date of the Indenture.

     Transfer Restricted Securities: Shall mean each Note, until the earliest to occur of
(i) the date on which such Series A Note is exchanged in the Exchange Offer by a Person other than
a Broker-Dealer for a Series B Note which is entitled to be resold to the public by the Holder
thereof without complying with the prospectus delivery requirements of the Act, (ii) following the
exchange by a Broker-Dealer in the Exchange Offer of a Series A Note for a Series B Note, the date
on which such Series B Note is sold to a purchaser who receives from such Broker-Dealer on or prior
to the date of such sale a copy of the Prospectus contained in the Exchange Offer Registration
Statement, (iii) the date on which such Series A Note has been effectively registered under the Act
and disposed of in accordance with a Shelf Registration Statement (and the purchasers thereof have
been issued Series B Notes), or (iv) the date on which such Series A Note is distributed to the
public pursuant to Rule 144 under the Act.

SECTION 2. HOLDERS

     A Person is deemed to be a holder (a “Holder”) of Transfer Restricted Securities
whenever such Person owns Transfer Restricted Securities.

SECTION 3. REGISTERED EXCHANGE OFFER

     (a) Unless the Exchange Offer shall not be permitted by applicable federal law or Commission
policy (after the procedures set forth in Section 6(a)(i) below have been complied with), the
Company and the Guarantors shall (i) cause the Exchange Offer Registration Statement to be filed
with the Commission on or prior to 120 days after the Closing Date (such 120th day being the
“Filing Deadline”), (ii) use commercially reasonable efforts to cause such Exchange Offer
Registration Statement to be declared effective by the Commission on or prior to 180 days after the
Closing Date (such 180th day being the “Effectiveness Deadline”), (iii) in connection with
the foregoing, (A) file all pre-effective amendments to such Exchange Offer Registration Statement
as may be necessary in order to cause it to become effective, (B) file, if applicable, a
post-effective amendment to such Exchange Offer Registration Statement pursuant to Rule 430A under
the Act and (C) cause all necessary filings, if any, in connection with the registration and
qualification of the Series B Notes to be made under the Blue Sky laws of such jurisdictions as are
necessary to permit Consummation of the Exchange Offer, and (iv)

3

 

commence and use its commercially reasonable efforts to Consummate the Exchange Offer not
later than 30 Business Days, or longer, if required by the federal securities laws, after the
Exchange Offer Registration Statement is declared effective (such 30th day being the
“Consummation Deadline”). The Exchange Offer shall be on the appropriate form permitting
(i) registration of the Series B Notes to be offered in exchange for the Series A Notes that are
Transfer Restricted Securities and (ii) resales of Series B Notes by Broker-Dealers that tendered
into the Exchange Offer Series A Notes that such Broker-Dealer acquired for its own account as a
result of market making activities or other trading activities (other than Series A Notes acquired
directly from the Company or any of its Affiliates) as contemplated
by Section
3(c) below.

     (b) The Company and the Guarantors shall use commercially reasonable efforts to cause the
Exchange Offer Registration Statement to be effective continuously, and shall keep the Exchange
Offer open for a period of not less than the minimum period required under applicable federal and
state securities laws to Consummate the Exchange Offer; provided, however, that in no event shall
such period be less than 20 Business Days. The Company and the Guarantors shall cause the Exchange
Offer to comply with all applicable federal and state securities laws. No securities other than
the Series B Notes shall be included in the Exchange Offer Registration Statement.

     (c) The Company shall include a “Plan of Distribution” section in the Prospectus contained in
the Exchange Offer Registration Statement and indicate therein that any Broker-Dealer who holds
Transfer Restricted Securities that were acquired for the account of such Broker-Dealer as a result
of market-making activities or other trading activities (other than Series A Notes acquired
directly from the Company or any Affiliate of the Company), may exchange such Transfer Restricted
Securities pursuant to the Exchange Offer. Such “Plan of Distribution” section shall also contain
all other information with respect to such sales by such Broker-Dealers that the Commission may
require in order to permit such sales pursuant thereto, but such “Plan of Distribution” shall not
name any such Broker-Dealer or disclose the amount of Transfer Restricted Securities held by any
such Broker-Dealer, except to the extent required by the Commission as a result of a change in
policy, rules or regulations after the date hereof.

     Because such Broker-Dealer may be deemed to be an “underwriter” within the meaning of the Act
and must, therefore, deliver a prospectus meeting the requirements of the Act in connection with
its initial sale of any Series B Notes received by such Broker-Dealer in the Exchange Offer, the
Company and Guarantors shall permit the use of the Prospectus contained in the Exchange Offer
Registration Statement by such Broker-Dealer to satisfy such prospectus delivery requirement. To
the extent necessary to ensure that the Prospectus contained in the Exchange Offer Registration
Statement is available for sales of Series B Notes by Broker-Dealers, the Company and the
Guarantors agree to use commercially reasonable efforts to keep the Exchange Offer Registration
Statement continuously effective, supplemented, amended and current as required by and subject to
the provisions of Section 6(a) and (c) hereof and in conformity with the requirements of this
Agreement, the Act and the policies, rules and regulations of the Commission as announced from time
to time, for a period of 180 days from the Consummation Deadline or such shorter period as will
terminate when all Transfer Restricted Securities covered by such Registration Statement have been
sold pursuant thereto. The Company and the Guarantors shall provide sufficient copies of the
latest version of such

4

 

Prospectus to such Broker-Dealers, promptly upon request, and in no event later than one day
after such request, at any time during such period.

SECTION 4. SHELF REGISTRATION

     (a) Shelf Registration. If (i) the Company and the Guarantors are not (A) required to
file the Exchange Offer Registration Statement or (B) permitted to Consummate the Exchange Offer
because the Exchange Offer is not permitted by applicable law or Commission policy (after the
Company and the Guarantors have complied with the procedures set forth in Section 6(a)(i) hereof)
or (ii) if any Holder of Transfer Restricted Securities shall notify the Company within 20 Business
Days following the Consummation Deadline that (A) such Holder was prohibited by law or Commission
policy from participating in the Exchange Offer or (B) such Holder may not resell the Series B
Notes acquired by it in the Exchange Offer to the public without delivering a prospectus and the
Prospectus contained in the Exchange Offer Registration Statement is not appropriate or available
for such resales by such Holder or (C) such Holder is a Broker-Dealer and holds Series A Notes
acquired directly from the Company or any of its Affiliates, then the Company and the Guarantors
shall use commercially reasonable efforts to:

   (x) cause to be filed, on or prior to 30 days after the earlier of (i) the date on which
the Company determines that the Exchange Offer Registration Statement cannot be filed as a
result of clause (a)(i) above and (ii) the date on which the Company receives the notice
specified in clause (a)(ii) above, (such earlier date, the “Filing Deadline”), a shelf
registration statement pursuant to Rule 415 under the Act (which may be an amendment to the
Exchange Offer Registration Statement (the “Shelf Registration Statement”)), relating to
all Transfer Restricted Securities, and

   (y) cause such Shelf Registration Statement to become effective on or prior to 90 days
after the Filing Deadline for the Shelf Registration Statement (such 90th day the
“Effectiveness Deadline”).

     If, after the Company has filed an Exchange Offer Registration Statement that satisfies the
requirements of Section 3(a) above, the Company is required to file and make effective a Shelf
Registration Statement solely because the Exchange Offer is not permitted under applicable federal
law (i.e., pursuant to clause (a)(i) above), then the filing of the Exchange Offer Registration
Statement shall be deemed to satisfy the requirements of clause (x) above; provided that, in such
event, the Company shall remain obligated to meet the Effectiveness Deadline set forth in clause
(y).

     To the extent necessary to ensure that the Shelf Registration Statement is available for sales
of Transfer Restricted Securities by the Holders thereof entitled to the benefit of this Section
4(a) and the other securities required to be registered therein pursuant to Section 6(b)(ii)
hereof, the Company and the Guarantors shall use commercially reasonable efforts to keep any Shelf
Registration Statement required by this Section 
4(a) continuously effective, supplemented, amended
and current as required by and subject to the provisions of Sections 6(b) and (c) hereof and in
conformity with the requirements of this Agreement, the Act and the policies, rules and regulations
of the Commission as announced from time to time, for a period of at least two years (as may be
extended pursuant to Section 6(c)(i) hereof) following the Closing Date, or such

5

 

shorter period as will terminate when all Transfer Restricted Securities covered by such Shelf
Registration Statement have been sold pursuant thereto.

     The Company shall be deemed not to have used commercially reasonable efforts to keep the Shelf
Registration Statement effective during the requisite period if it voluntarily takes any action
that would result in Holders of Transfer Restricted Securities covered thereby not being able to
publicly offer and sell such Transfer Restricted Securities during that period, unless (i) such
action is required by applicable law or (ii) such action is taken by the Company in good faith and
for valid business reasons (not including avoidance of the Company’s obligations hereunder),
including the acquisition or divestiture of assets, so long as the Company promptly thereafter
complies with the requirements of Section 6 hereto, if applicable.

     (b) Provision by Holders of Certain Information in Connection with the Shelf Registration
Statement. No Holder of Transfer Restricted Securities may include any of its Transfer
Restricted Securities in any Shelf Registration Statement pursuant to this Agreement unless and
until such Holder furnishes to the Company in writing, within 20 days after receipt of a request
therefor, the information specified in Item 507 or 508 of Regulation S-K, as applicable, of the Act
for use in connection with any Shelf Registration Statement or Prospectus or preliminary Prospectus
included therein and any other information reasonably required by the Company in order to fulfill
its obligations hereunder. No Holder of Transfer Restricted Securities shall be entitled to
liquidated damages pursuant to Section 5 hereof unless and until such Holder shall have provided
all such information. Each selling Holder agrees to promptly furnish additional information as
requested by the Commission or as required to be disclosed in order to make the information
previously furnished to the Company by such Holder not materially misleading.

SECTION 5. LIQUIDATED DAMAGES

     If (i) any Registration Statement required by this Agreement is not filed with the Commission
on or prior to the applicable Filing Deadline, (ii) any such Registration Statement has not been
declared effective by the Commission on or prior to the applicable Effectiveness Deadline, (iii)
the Exchange Offer has not been Consummated on or prior to the Consummation Deadline or (iv) any
Registration Statement required by this Agreement is filed and declared effective but shall
thereafter cease to be effective or fail to be usable for its intended purpose without being
succeeded immediately by a post-effective amendment to such Registration Statement or another
Registration Statement that cures such failure and that is itself declared effective immediately
(each such event referred to in clauses (i) through (iv), a “Registration Default”), then
the Company and the Guarantors hereby jointly and severally agree to pay to each Holder of Transfer
Restricted Securities affected thereby liquidated damages that will accrue on the principal amount
of Transfer Restricted Securities at the rate of 0.50% per annum from and including the date on
which any such Registration Default shall occur to, but excluding, the date on which all
Registration Defaults have been cured; provided that the Company and the Guarantors shall in no
event be required to pay liquidated damages for more than one Registration Default at any given
time. Such interest is payable in addition to any other interest payable from time to time with
respect to the Transfer Restricted Securities.

6

 

     All accrued liquidated damages shall be paid to the Holders of Transfer Restricted Securities
entitled thereto, in the manner provided for the payment of interest in the Indenture, on each
Interest Payment Date, as more fully set forth in the Indenture and the Notes. Notwithstanding the
fact that any securities for which liquidated damages are due cease to be Transfer Restricted
Securities, all obligations of the Company and the Guarantors to pay liquidated damages for the
period during which such securities were Transfer Restricted Securities shall survive until such
time as such obligations with respect to such securities shall have been satisfied in full.

SECTION 6. REGISTRATION PROCEDURES

     (a) Exchange Offer Registration Statement. In connection with the Exchange Offer, the
Company and the Guarantors shall (x) comply with all applicable provisions of Section 6(c) below,
(y) use commercially reasonable efforts to effect such exchange and to permit the resale of Series
B Notes by Broker-Dealers that tendered in the Exchange Offer Series A Notes that such
Broker-Dealer acquired for its own account as a result of its market making activities or other
trading activities (other than Series A Notes acquired directly from the Company or any of its
Affiliates) being sold in accordance with the intended method or methods of distribution thereof as
described in the relevant section of the Exchange Offer Registration Statement then in effect, and
(z) comply with all of the following provisions:

     (i) If, following the date hereof there has been announced a change in Commission
policy with respect to exchange offers such as the Exchange Offer, that in the reasonable
opinion of counsel to the Company raises a substantial question as to whether the Exchange
Offer is permitted by applicable federal law, the Company and the Guarantors hereby agree to
seek a no-action letter or other favorable decision from the Commission allowing the Company
and the Guarantors to Consummate an Exchange Offer for such Transfer Restricted Securities.
The Company and the Guarantors hereby agree to pursue the issuance of such a decision to the
Commission staff level. In connection with the foregoing, the Company and the Guarantors
hereby agree to take all such other actions as may be requested by the Commission or
otherwise required in connection with the issuance of such decision, including without
limitation (A) participating in telephonic conferences with the Commission, (B) delivering
to the Commission staff an analysis prepared by counsel to the Company setting forth the
legal bases, if any, upon which such counsel has concluded that such an Exchange Offer
should be permitted and (C) diligently pursuing a resolution (which need not be favorable)
by the Commission staff.

     (ii) As a condition to its participation in the Exchange Offer, each Holder of Transfer
Restricted Securities (including, without limitation, any such Holder who is a Broker
Dealer) shall furnish, upon the request of the Company, prior to the Consummation of the
Exchange Offer, a written representation to the Company and the Guarantors (which may be
contained in the letter of transmittal contemplated by the Exchange Offer Registration
Statement) to the effect that (A) it is not an Affiliate of the Company, (B) it is not
engaged in, and does not intend to engage in, and has no arrangement or understanding with
any person to participate in, a distribution of the Series B Notes to be issued in the
Exchange Offer and (C) it is acquiring the Series B

7

 

Notes in its ordinary course of business. As a condition to its participation in the
Exchange Offer each Holder using the Exchange Offer to participate in a distribution of the
Series B Notes shall acknowledge and agree that, if the resales are of Series B Notes
obtained by such Holder in exchange for Series A Notes acquired directly from the Company or
an Affiliate thereof, it (1) could not, under Commission policy as in effect on the date of
this Agreement, rely on the position of the Commission enunciated in Morgan Stanley and
Co., Inc. (available June 5, 1991) and Exxon Capital Holdings Corporation
(available May 13, 1988), as interpreted in the Commission’s letter to Shearman &
Sterling dated July 2, 1993, and similar no-action letters (including, if applicable,
any no-action letter obtained pursuant to clause (i) above), and (2) must comply with the
registration and prospectus delivery requirements of the Act in connection with a secondary
resale transaction and that such a secondary resale transaction must be covered by an
effective registration statement containing the selling security holder information required
by Item 507 or 508, as applicable, of Regulation S-K.

     (iii) To the extent required by Commission policies and procedures, prior to
effectiveness of the Exchange Offer Registration Statement, the Company and the Guarantors
shall provide a supplemental letter to the Commission (A) stating that the Company and the
Guarantors are registering the Exchange Offer in reliance on the position of the Commission
enunciated in Exxon Capital Holdings Corporation (available May 13, 1988),
Morgan Stanley and Co., Inc. (available June 5, 1991) as interpreted in the
Commission’s letter to Shearman & Sterling dated July 2, 1993, and, if applicable,
any no-action letter obtained pursuant to clause (i) above, (B) including a representation
that neither the Company nor any Guarantor has entered into any arrangement or understanding
with any Person to distribute the Series B Notes to be received in the Exchange Offer and
that, to the best of the Company’s and each Guarantor’s information and belief, each Holder
participating in the Exchange Offer is acquiring the Series B Notes in its ordinary course
of business and has no arrangement or understanding with any Person to participate in the
distribution of the Series B Notes received in the Exchange Offer and (C) any other
undertaking or representation required by the Commission as set forth in any no-action
letter obtained pursuant to clause (i) above, if applicable.

     (b) Shelf Registration Statement. In connection with any Shelf Registration Statement,
the Company and the Guarantors shall:

     (i) comply with all the provisions of Section 6(c) below and use commercially
reasonable efforts to effect such registration to permit the sale of the Transfer
Restricted Securities being sold in accordance with the intended method or methods of
distribution thereof (as indicated in the information furnished to the Company pursuant to
Section 4(b) hereof), and pursuant thereto the Company and the Guarantors will prepare and
file with the Commission a Registration Statement relating to such registration on any
appropriate form under the Act, which form shall be available for the sale of the Transfer
Restricted Securities in accordance with the intended method or methods of distribution
thereof as described in the relevant section of the Exchange Offer

8

 

Registration Statement then in effect, within the time periods and otherwise in
accordance with the provisions hereof, and

     (ii) issue, upon the request of any Holder or purchaser of Series A Notes covered by
any Shelf Registration Statement contemplated by this Agreement, Series B Notes having an
aggregate principal amount equal to the aggregate principal amount of Series A Notes sold
pursuant to the Shelf Registration Statement and surrendered to the Company for
cancellation; the Company shall register Series B Notes on the Shelf Registration Statement
for this purpose and issue the Series B Notes to the purchaser(s) of securities subject to
the Shelf Registration Statement in the names such purchaser(s) shall designate.

     (c) General Provisions. In connection with any Registration Statement and any related
Prospectus required by this Agreement, the Company and the Guarantors shall:

     (i) use commercially reasonable efforts to keep such Registration Statement
continuously effective and provide all requisite financial statements for the period
specified in Section 3 or 4 of this Agreement, as applicable. Upon the occurrence of any
event that would cause any such Registration Statement or the Prospectus contained therein
(A) to contain an untrue statement of material fact or omit to state any material fact
necessary to make the statements therein not misleading or (B) not to be effective and
usable for resale of Transfer Restricted Securities as described in the relevant section of
the Exchange Offer Registration Statement then in effect, during the period required by this
Agreement, the Company and the Guarantors shall file promptly an appropriate amendment to
such Registration Statement curing such defect, and, if Commission review is required, use
commercially reasonable efforts to cause such amendment to be declared effective as soon as
practicable. If at any time the Commission shall issue any stop order suspending the
effectiveness of the Registration Statement, or any state securities commission or other
regulatory authority shall issue an order suspending the qualification or exemption from
qualification of the Transfer Restricted Securities under state securities or Blue Sky laws,
the Company and the Guarantors shall use commercially reasonable efforts to obtain the
withdrawal or lifting of such order at the earliest possible time;

     (ii) prepare and file with the Commission such amendments and post-effective amendments
to the applicable Registration Statement as may be necessary to keep such Registration
Statement effective for the applicable period set forth in Section 3 or 4 hereof, as the
case may be; cause the Prospectus to be supplemented by any required Prospectus supplement,
and as so supplemented to be filed pursuant to Rule 424 under the Act, and to comply fully
with Rules 424, 430A and 462, as applicable, under the Act in a timely manner; and comply
with the provisions of the Act with respect to the disposition of all securities covered by
such Registration Statement during the applicable period in accordance with the intended
method or methods of distribution by the sellers thereof set forth in such Registration
Statement or supplement to the Prospectus;

     (iii) advise each Holder promptly and, if requested by such Holder, confirm such advice
in writing, (A) when the Prospectus or any Prospectus supplement or post-

9

 

effective amendment has been filed, and, with respect to any applicable Registration
Statement or any post-effective amendment thereto, when the same has become effective, (B)
of any request by the Commission for amendments to the Registration Statement or amendments
or supplements to the Prospectus or for additional information relating thereto, (C) of the
issuance by the Commission of any stop order suspending the effectiveness of the
Registration Statement under the Act or of the suspension by any state securities commission
of the qualification of the Transfer Restricted Securities for offering or sale in any
jurisdiction, or the initiation of any proceeding for any of the preceding purposes, (D) of
the existence of any fact or the happening of any event that makes any statement of a
material fact made in the Registration Statement, the Prospectus, any amendment or
supplement thereto or any document incorporated by reference therein untrue, or that
requires the making of any additions to or changes in the Registration Statement in order to
make the statements therein not misleading, or that requires the making of any additions to
or changes in the Prospectus in order to make the statements therein, in the light of the
circumstances under which they were made, not misleading;

     (iv) subject to Section 6(c)(i), if any fact or event contemplated by Section
6(c)(iii)(D) above shall exist or have occurred, prepare a supplement or post-effective
amendment to the Registration Statement or related Prospectus or any document incorporated
therein by reference or file any other required document so that, as thereafter delivered to
the purchasers of Transfer Restricted Securities, the Prospectus will not contain an untrue
statement of a material fact or omit to state any material fact necessary to make the
statements therein, in the light of the circumstances under which they were made, not
misleading; notwithstanding the foregoing, the Company shall not be required to amend or
supplement a Registration Statement, any related prospectus or any document incorporated by
reference, for a period not to exceed an aggregate of 30 days in any calendar year, if (i)
an event occurs and is continuing as a result of which the Registration Statement would, in
the Company’s good faith judgment, contain an untrue statement of a material fact or omit to
state a material fact necessary in order to make the statements therein, in light of the
circumstances in which they were made, not misleading and (ii) the board of directors of the
Company determines in its good faith judgment that the disclosure of such event at such time
would have a material adverse effect on the business or operations of the Company;

     (v) with respect to a Shelf Registration Statement, furnish to each Holder in
connection with such exchange or sale, if any, before filing with the Commission, copies of
any Registration Statement or any Prospectus included therein or any amendments or
supplements to any such Registration Statement or Prospectus (including all documents
incorporated by reference after the initial filing of such Registration Statement), which
documents will be subject to the review and comment of such Holders in connection with such
sale, if any, for a period of at least three Business Days, and the Company will not file
any such Registration Statement or Prospectus or any amendment or supplement to any such
Registration Statement or Prospectus (including all such documents incorporated by
reference) to which such Holders shall reasonably object within three Business Days after
the receipt thereof. A Holder shall be deemed to have reasonably objected to such filing if
such Registration Statement, amendment, Prospectus or

10

 

supplement, as applicable, as proposed to be filed, contains an untrue statement of a
material fact or omit to state any material fact necessary to make the statements therein
not misleading or fails to comply with the applicable requirements of the Act;

     (vi) promptly prior to the filing of any document that is to be incorporated by
reference into a Registration Statement or Prospectus, provide copies of such document to
the Initial Purchasers and each Holder in connection with such exchange or sale, if any,
make the Company’s and the Guarantors’ representatives available for discussion of such
document and other customary due diligence matters, and include such information in such
document prior to the filing thereof as such Holders may reasonably request;

     (vii) make available for inspection by each person who would be an “underwriter” as a
result of either (i) the sale by such person of Series A Notes covered by such Shelf
Registration Statement or (ii) the sale during the period referred to in Section 3(c) above
by a Broker-Dealer of Series B Notes (provided that a Broker-Dealer shall not be deemed to
be an underwriter solely as a result of it being required to deliver a prospectus in
connection with any resale of Series B Notes) and any attorney, accountant or other agent
retained by any such person (collectively, the “Inspectors”), at the offices where
normally kept, during reasonable business hours, all financial and other records, pertinent
corporate documents and properties of the Company and its subsidiaries (collectively, the
“Records”) as shall be reasonably necessary to enable them to exercise any
applicable due diligence responsibilities, and cause the officers, directors and employees
of the Company and its subsidiaries to supply all information in each case reasonably
requested by any such Inspector in connection with such Registration Statement. Records
which the Company determines, in good faith, to be confidential and any Records which it
notifies the Inspectors are confidential shall not be disclosed by the Inspectors unless (i)
the disclosure of such Records is necessary to avoid or correct a material misstatement or
omission in such Registration Statement, (ii) the release of such Records is ordered
pursuant to a subpoena or other order from a court of competent jurisdiction or (iii) the
information in such Records has been generally available to the public. Each selling Holder
of such Transfer Restricted Securities and each such Broker-Dealer will be required to agree
that information obtained by it as a result of such inspections shall be deemed confidential
and shall not be used by it as the basis for any market transactions in the securities of
the Company unless and until such information is made generally available to the public.
Each selling Holder of such Transfer Restricted Securities and each such Broker-Dealer will
be required to further agree that it will, upon learning that disclosure of such Records is
sought in a court of competent jurisdiction, give notice to the Company and allow the
Company at its expense to undertake appropriate action to prevent disclosure of the Records
deemed confidential;

     (viii) if requested by any Holders of Transfer Restricted Securities in connection with
such exchange or sale, promptly include in any Registration Statement or Prospectus,
pursuant to a supplement or post-effective amendment if necessary, such information as such
Holders may reasonably request to have included therein concerning themselves, including,
without limitation, information relating to the “Plan of Distribution” concerning their
Transfer Restricted Securities; and make all required filings of such Prospectus supplement
or post-effective amendment as soon as practicable

11

 

after the Company is notified of the matters to be included in such Prospectus
supplement or post-effective amendment;

     (ix) furnish to each Holder of Transfer Restricted Securities in connection with such
exchange or sale without charge, at least one copy of the Registration Statement, as first
filed with the Commission, and of each amendment thereto, including all documents
incorporated by reference therein and all exhibits (including exhibits incorporated therein
by reference);

     (x) deliver to each Holder of Transfer Restricted Securities without charge, as many
copies of the Prospectus (including each preliminary prospectus) and any amendment or
supplement thereto as such Holder reasonably may request; the Company and the Guarantors
hereby consent to the use (in accordance with law) of the Prospectus and any amendment or
supplement thereto by each selling Holder in connection with the offering and the sale of
the Transfer Restricted Securities covered by the Prospectus or any amendment or supplement
thereto;

     (xi) upon the request of any Holder of Transfer Restricted Securities, enter into such
agreements (including underwriting agreements) and make such representations and warranties
and take all such other actions in connection therewith in order to expedite or facilitate
the disposition of the Transfer Restricted Securities pursuant to any applicable
Registration Statement contemplated by this Agreement as may be reasonably requested by such
Holder in connection with any sale or resale pursuant to any applicable Registration
Statement. In such connection, the Company and the Guarantors shall:

     (A) upon request of such Holder, furnish (or in the case of paragraphs (2) and
(3), use commercially reasonable efforts to cause to be furnished) to such Holder,
upon Consummation of the Exchange Offer or upon the effectiveness of the Shelf
Registration Statement, as the case may be:

     (1) a certificate, dated such date, signed on behalf of the Company and
each Guarantor by (x) the President or any Vice President of the Company and
such Guarantor and (y) a principal financial or accounting officer of the
Company and such Guarantor, confirming, as of the date thereof, the matters
set forth in Section 1(a)(iv) 5 of the Purchase Agreement and such other
similar matters as such Holder may reasonably request;

     (2) an opinion, dated the date of Consummation of the Exchange Offer or
the date of effectiveness of the Shelf Registration Statement, as the case
may be, of counsel for the Company and the Guarantors covering matters
similar to those set forth in paragraphs (a) through (d) of Section 5 of the
Purchase Agreement and such other matters as such Holder may reasonably
request, and in any event including a statement to the effect that such
counsel has participated in conferences with officers and other
representatives of the Company and the Guarantors, representatives of the
independent public accountants for the

12

 

Company and the Guarantors and have considered the matters required to
be stated therein and the statements contained therein, although such
counsel has not independently verified the accuracy, completeness or
fairness of such statements; and that such counsel advises that, on the
basis of the foregoing (relying as to materiality to the extent such counsel
deems appropriate upon the statements of officers and other representatives
of the Company and the Guarantors and without independent check or
verification), no facts came to such counsel’s attention that caused such
counsel to believe that the applicable Registration Statement, at the time
such Registration Statement or any post-effective amendment thereto became
effective and, in the case of the Exchange Offer Registration Statement, as
of the date of Consummation of the Exchange Offer, contained an untrue
statement of a material fact or omitted to state a material fact required to
be stated therein or necessary to make the statements therein not
misleading, or that the Prospectus contained in such Registration Statement
as of its date and, in the case of the opinion dated the date of
Consummation of the Exchange Offer, as of the date of Consummation,
contained an untrue statement of a material fact or omitted to state a
material fact necessary in order to make the statements therein, in the
light of the circumstances under which they were made, not misleading.
Without limiting the foregoing, such counsel may state further that such
counsel assumes no responsibility for, and has not independently verified,
the accuracy, completeness or fairness of the financial statements, notes
and schedules and other financial data included in any Registration
Statement contemplated by this Agreement or the related Prospectus; and

     (3) a customary comfort letter, dated the date of Consummation of the
Exchange Offer, or as of the date of effectiveness of the Shelf Registration
Statement, as the case may be, from the Company’s independent accountants,
in the customary form and covering matters of the type customarily covered
in comfort letters to underwriters in connection with underwritten
offerings, and affirming the matters set forth in the comfort letters
delivered pursuant to Sections 5(g) and (h) of the Purchase Agreement; and

     (B) deliver such other documents and certificates as may be reasonably
requested by the selling Holders to evidence compliance with the matters covered in
clause (A) above and with any customary conditions contained in any agreement
entered into by the Company and the Guarantors pursuant to this clause (xi);

     (xii) prior to any public offering of Transfer Restricted Securities, cooperate with
the selling Holders and their counsel in connection with the registration and qualification
of the Transfer Restricted Securities under the securities or Blue Sky laws of such
jurisdictions as the selling Holders may request and do any and all other acts or things
necessary to enable the disposition in such jurisdictions of the Transfer Restricted

13

 

Securities covered by the applicable Registration Statement; provided, however, that
neither the Company nor any Guarantor shall be required to register or qualify as a foreign
corporation or broker dealer where it is not now so qualified or to take any action that
would subject it to the service of process in suits, other than as to matters and
transactions relating to the Registration Statement or to taxation, in any jurisdiction
where it is not now so subject;

     (xiii) in connection with any sale of Transfer Restricted Securities that will result
in such securities no longer being Transfer Restricted Securities, cooperate with the
Holders to facilitate the timely preparation and delivery of certificates representing
Transfer Restricted Securities to be sold and not bearing any restrictive legends; and to
register, subject to compliance with the Indenture, such Transfer Restricted Securities in
such denominations and such names as the selling Holders may request at least two Business
Days prior to such sale of Transfer Restricted Securities;

     (xiv) use commercially reasonable efforts to cause the disposition of the Transfer
Restricted Securities covered by the Registration Statement to be registered with or
approved by such other governmental agencies or authorities as may be necessary to enable
the seller or sellers thereof to consummate the disposition of such Transfer Restricted
Securities, subject to the proviso contained in clause (xii) above;

     (xv) provide a CUSIP number for all Transfer Restricted Securities not later than the
effective date of a Registration Statement covering such Transfer Restricted Securities and
provide the Trustee under the Indenture with certificates for the Transfer Restricted
Securities which are in a form eligible for deposit with the Depository Trust Company;

     (xvi) otherwise use commercially reasonable efforts to comply with all applicable rules
and regulations of the Commission, and make generally available to its security holders with
regard to any applicable Registration Statement, as soon as practicable, a consolidated
earnings statement meeting the requirements of Rule 158 (which need not be audited) covering
a twelve-month period beginning after the effective date of the Registration Statement (as
such term is defined in paragraph (c) of Rule 158 under the Act);

     (xvii) cause the Indenture to be qualified under the TIA not later than the effective
date of the first Registration Statement required by this Agreement and, in connection
therewith, cooperate with the Trustee and the Holders to effect such changes to the
Indenture as may be required for such Indenture to be so qualified in accordance with the
terms of the TIA; and execute and use commercially reasonable efforts to cause the Trustee
to execute, all documents that may be required to effect such changes and all other forms
and documents required to be filed with the Commission to enable such Indenture to be so
qualified in a timely manner; in the event that such qualification would require the
appointment of a new trustee under the Indenture, the Company shall appoint a new trustee
pursuant to the applicable provisions of the Indenture, and

14

 

     (xviii) provide promptly to each Holder, upon request, each document filed with the
Commission pursuant to the requirements of Section 13 or Section 15(d) of the Exchange Act.

     (d) Restrictions on Holders. Each Holder agrees by acquisition of a Transfer
Restricted Security that, upon receipt of the notice referred to in Section 6(c)(iii)(B) or (C) or
any notice from the Company of the existence of any fact of the kind described in Section
6(c)(iii)(D) hereof (in each case, a “Suspension Notice”), such Holder will forthwith
discontinue disposition of Transfer Restricted Securities pursuant to the applicable Registration
Statement until (i) such Holder has received copies of the supplemented or amended Prospectus
contemplated by Section 6(c)(iv) hereof, or (ii) such Holder is advised in writing by the Company
that the use of the Prospectus may be resumed, and has received copies of any additional or
supplemental filings that are incorporated by reference in the Prospectus (in each case, the
“Recommencement Date”). Each Holder receiving a Suspension Notice hereby agrees that it
will either (i) destroy any Prospectuses, other than permanent file copies, then in such Holder’s
possession which have been replaced by the Company with more recently dated Prospectuses or (ii)
deliver to the Company (at the Company’s expense) all copies, other than permanent file copies,
then in such Holder’s possession of the Prospectus covering such Transfer Restricted Securities
that was current at the time of receipt of the Suspension Notice. The time period regarding the
effectiveness of such Registration Statement set forth in Section 3 or 4 hereof, as applicable,
shall be extended by a number of days equal to the number of days in the period from and including
the date of delivery of the Suspension Notice to the Recommencement Date.

SECTION 7. REGISTRATION EXPENSES

     (a) All expenses incident to the Company’s and the Guarantors’ performance of or compliance
with this Agreement will be borne by the Company, regardless of whether a Registration Statement
becomes effective, including without limitation: (i) all registration and filing fees and expenses;
(ii) all fees and expenses of compliance with federal securities and state Blue Sky or securities
laws; (iii) all expenses of printing (including printing certificates for the Series B Notes to be
issued in the Exchange Offer and printing of Prospectuses), messenger and delivery services and
telephone; (iv) all fees and disbursements of counsel for the Company, the Guarantors and the
Holders of the Transfer Restricted Securities; (v) all application and filing fees in connection
with listing the Series B Notes on a national securities exchange or automated quotation system
pursuant to the requirements hereof; and (vi) all fees and disbursements of independent certified
public accountants of the Company and the Guarantors (including the expenses of any special audit
and comfort letters required by or incident to such performance).

     The Company will, in any event, bear its and the Guarantors’ internal expenses (including,
without limitation, all salaries and expenses of its officers and employees performing legal or
accounting duties), the expenses of any annual audit and the fees and expenses of any Person,
including special experts, retained by the Company or the Guarantors.

     (b) In connection with any Registration Statement required by this Agreement (including,
without limitation, the Exchange Offer Registration Statement and the Shelf Registration
Statement), the Company and the Guarantors will reimburse the Initial Purchasers and the Holders of
Transfer Restricted Securities who are tendering Series A Notes in the

15

 

Exchange Offer and/or selling or reselling Series A Notes or Series B Notes pursuant to the
“Plan of Distribution” contained in the Exchange Offer Registration Statement or the Shelf
Registration Statement, as applicable, for the reasonable fees and disbursements of not more than
one counsel, who shall be Latham & Watkins LLP, unless another firm shall be chosen by the Holders
of a majority in principal amount of the Transfer Restricted Securities for whose benefit such
Registration Statement is being prepared. Except as otherwise provided in this Section 7, each
Holder shall pay all expenses of its counsel, underwriting discounts and commissions, and transfer
taxes, if any, relating to the sale or disposition of such Holder’s Transfer Restricted Securities
pursuant to any Registration Statement.

SECTION 8. INDEMNIFICATION

     (a) The Company and the Guarantors agree, jointly and severally, to indemnify and hold
harmless each Holder, its directors, officers and each Person, if any, who controls such Holder
(within the meaning of Section 15 of the Act or Section 20 of the Exchange Act), from and against
any and all losses, claims, damages, liabilities, judgments, (including without limitation, any
reasonable legal or other expenses incurred in connection with investigating or defending any
matter, including any action that could give rise to any such losses, claims, damages, liabilities
or judgments) caused by any untrue statement or alleged untrue statement of a material fact
contained in any Registration Statement, preliminary prospectus or Prospectus (or any amendment or
supplement thereto) provided by the Company to any Holder or any prospective purchaser of Series B
Notes or registered Series A Notes, or caused by any omission or alleged omission to state therein
a material fact required to be stated therein or necessary to make the statements therein not
misleading, provided, however, that the foregoing indemnity agreement shall not inure to the
benefit of any Holder, its directors, officers and employees, and each person, if any, who controls
such Holder within the meaning of the Act and the Exchange Act (i) who, in contravention of a
requirement of applicable law, failed to deliver, or otherwise convey the information contained in,
any Prospectus (as then amended or supplemented) to the person asserting any losses, claims,
damages, liabilities or judgments, caused by any untrue statement or alleged untrue statement of a
material fact contained in any preliminary Prospectus, or caused by any omission or alleged
omission to state therein a material fact required to be stated therein or necessary to make the
statements therein not misleading, if such material misstatement or omission or alleged material
misstatement or omission was cured in the Prospectus (as then amended or supplemented) and such
Prospectus was required by law to be delivered at or prior to the written confirmation of sale to
such person and the Prospectus and any amendment or supplement thereto was provided by the Company
to the Holder in the requisite quantity and on a timely basis to permit proper delivery on or prior
to the closing of such sale by such Holder; or (ii) if such losses, claims, damages, liabilities or
judgments are caused by an untrue statement or omission or alleged untrue statement or omission
that is based upon information relating to any of the Holders furnished in writing to the Company
by any such Holders.

     (b) Each Holder of Transfer Restricted Securities agrees, severally and not jointly, to
indemnify and hold harmless the Company and the Guarantors, and their respective directors and
officers, and each person, if any, who controls (within the meaning of Section 15 of the Act or
Section 20 of the Exchange Act) the Company, or the Guarantors to the same extent as the foregoing
indemnity from the Company and the Guarantors set forth in Section (a) above, but

16

 

only with reference to information relating to such Holder furnished in writing to the Company
by such Holder expressly for use in any Registration Statement. In no event shall any Holder, its
directors, officers or any Person who controls such Holder be liable or responsible for any amount
in excess of the amount by which the total amount received by such Holder with respect to its sale
of Transfer Restricted Securities pursuant to a Registration Statement exceeds (i) the amount paid
by such Holder for such Transfer Restricted Securities and (ii) the amount of any damages that such
Holder, its directors, officers or any Person who controls such Holder has otherwise been required
to pay by reason of such untrue or alleged untrue statement or omission or alleged omission.

     (c) In case any action shall be commenced involving any person in respect of which indemnity
may be sought pursuant to Section 8(a) or 8(b) (the “indemnified party”), the indemnified
party shall promptly notify the person against whom such indemnity may be sought (the
“indemnifying person”) in writing and the indemnifying party shall assume the defense of
such action, including the employment of counsel reasonably satisfactory to the indemnified party
and the payment of all reasonable fees and expenses of such counsel, as incurred (except that in
the case of any action in respect of which indemnity may be sought pursuant to both Sections 8(a)
and 8(b), a Holder shall not be required to assume the defense of such action pursuant to this
Section 8(c), but may employ separate counsel and participate in the defense thereof, but the fees
and expenses of such counsel, except as provided below, shall be at the expense of the Holder).
Any indemnified party shall have the right to employ separate counsel in any such action and
participate in the defense thereof, but the fees and expenses of such counsel shall be at the
expense of the indemnified party unless (i) the employment of such counsel shall have been
specifically authorized in writing by the indemnifying party, (ii) the indemnifying party shall
have failed to assume the defense of such action or employ counsel reasonably satisfactory to the
indemnified party or (iii) the named parties to any such action (including any impleaded parties)
include both the indemnified party and the indemnifying party, and the indemnified party shall have
been advised by such counsel that there may be one or more legal defenses available to it which are
different from or additional to those available to the indemnifying party (in which case the
indemnifying party shall not have the right to assume the defense of such action on behalf of the
indemnified party). In any such case, the indemnifying party shall not, in connection with any one
action or separate but substantially similar or related actions in the same jurisdiction arising
out of the same general allegations or circumstances, be liable for the fees and expenses of more
than one separate firm of attorneys (in addition to any local counsel) for all indemnified parties
and all such fees and expenses shall be reimbursed as they are incurred. Such firm shall be
designated in writing by a majority of the Holders, in the case of the parties indemnified pursuant
to Section 8(a), and by the Company and the Guarantors, in the case of parties indemnified pursuant
to Section 8(b). The indemnifying party shall indemnify and hold harmless the indemnified party
from and against any and all losses, claims, damages, liabilities and judgments by reason of any
settlement of any action (i) effected with the indemnifying party’s written consent or (ii)
effected without the indemnifying party’s written consent if the settlement is entered into more
than 30 Business Days after the indemnifying party shall have received a request from the
indemnified party for reimbursement for the fees and expenses of counsel (in any case where such
fees and expenses are at the expense of the indemnifying party) and, prior to the date of such
settlement, the indemnifying party shall have failed to comply with such reimbursement request.
No indemnifying party shall, without the prior written consent of the indemnified party, effect any
settlement or

17

 

compromise of, or consent to the entry of judgment with respect to, any pending or threatened
action in respect of which the indemnified party is or could have been a party and indemnity or
contribution may be or could have been sought hereunder by the indemnified party, unless such
settlement, compromise or judgment (i) includes an unconditional release of the indemnified party
from all liability on claims that are or could have been the subject matter of such action and (ii)
does not include a statement as to or an admission of fault, culpability or a failure to act, by or
on behalf of the indemnified party.

     (d) To the extent that the indemnification provided for in this Section 8 is unavailable to an
indemnified party in respect of any losses, claims, damages, liabilities or judgments referred to
therein, then each indemnifying party, in lieu of indemnifying such indemnified party, shall
contribute to the amount paid or payable by such indemnified party as a result of such losses,
claims, damages, liabilities or judgments (i) in such proportion as is appropriate to reflect the
relative benefits received by the Company and the Guarantors, on the one hand, and the Holders, on
the other hand, from their sale of Transfer Restricted Securities or (ii) if the allocation
provided by clause 8(d)(i) is not permitted by applicable law, in such proportion as is appropriate
to reflect not only the relative benefits referred to in clause 8(d)(i) above but also the relative
fault of the Company and the Guarantors, on the one hand, and of the Holder, on the other hand, in
connection with the statements or omissions which resulted in such losses, claims, damages,
liabilities or judgments, as well as any other relevant equitable considerations. The relative
fault of the Company and the Guarantors, on the one hand, and of the Holder, on the other hand,
shall be determined by reference to, among other things, whether the untrue or alleged untrue
statement of a material fact or the omission or alleged omission to state a material fact relates
to information supplied by the Company or such Guarantor, on the one hand, or by the Holder, on the
other hand, and the parties’ relative intent, knowledge, access to information and opportunity to
correct or prevent such statement or omission. The amount paid or payable by a party as a result
of the losses, claims, damages, liabilities and judgments referred to above shall be deemed to
include, subject to the limitations set forth in Section 8(a), any legal or other fees or expenses
reasonably incurred by such party in connection with investigating or defending any action or
claim.

     The Company, the Guarantors and each Holder agree that it would not be just and equitable if
contribution pursuant to this Section 8(d) were determined by pro rata allocation (even if the
Holders were treated as one entity for such purpose) or by any other method of allocation which
does not take account of the equitable considerations referred to in the immediately preceding
paragraph. The amount paid or payable by an indemnified party as a result of the losses, claims,
damages, liabilities or judgments referred to in the immediately preceding paragraph shall be
deemed to include, subject to the limitations set forth above, any legal or other expenses
reasonably incurred by such indemnified party in connection with investigating or defending any
matter, including any action that could have given rise to such losses, claims, damages,
liabilities or judgments. Notwithstanding the provisions of this Section 8, no Holder, its
directors, its officers or any Person, if any, who controls such Holder shall be required to
contribute, in the aggregate, any amount in excess of the amount by which the total received by
such Holder with respect to the sale of Transfer Restricted Securities pursuant to a Registration
Statement exceeds (i) the amount paid by such Holder for such Transfer Restricted Securities and
(ii) the amount of any damages which such Holder has otherwise been required to pay by reason of
such untrue or alleged untrue statement or omission or alleged omission. No

18

 

person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act)
shall be entitled to contribution from any person who was not guilty of such fraudulent
misrepresentation. The Holders’ obligations to contribute pursuant to this Section 8(c) are
several in proportion to the respective principal amount of Transfer Restricted Securities held by
each Holder hereunder and not joint.

SECTION 9. RULE 144A AND RULE 144

     The Company and each Guarantor agrees with each Holder, for so long as any Transfer Restricted
Securities remain outstanding and during any period in which the Company and such Guarantor (i) is
not subject to Section 13 or 15(d) of the Exchange Act, to make available, upon request of any
Holder, to such Holder or beneficial owner of Transfer Restricted Securities in connection with any
sale thereof and any prospective purchaser of such Transfer Restricted Securities designated by
such Holder or beneficial owner, the information required by Rule 144A(d)(4) under the Act in order
to permit resales of such Transfer Restricted Securities pursuant to Rule 144A, and (ii) is subject
to Section 13 or 15 (d) of the Exchange Act, to make all filings required thereby in a timely
manner in order to permit resales of such Transfer Restricted Securities pursuant to Rule 144.

SECTION 10. MISCELLANEOUS

     (a) Remedies. The Company and the Guarantors acknowledge and agree that any failure
by the Company and/or the Guarantors to comply with their respective obligations under Sections 3
and 4 hereof may result in material irreparable injury to the Initial Purchasers or the Holders for
which there is no adequate remedy at law, that it will not be possible to measure damages for such
injuries precisely and that, in the event of any such failure, the Initial Purchasers or any Holder
may obtain such relief as may be required to specifically enforce the Company’s and the Guarantor’s
obligations under Sections 3 and 4 hereof. The Company and the Guarantors further agree to waive
the defense in any action for specific performance that a remedy at law would be adequate.

     (b) No Inconsistent Agreements. Neither the Company nor any Guarantor will, on or
after the date of this Agreement, enter into any agreement with respect to its securities that is
inconsistent with the rights granted to the Holders in this Agreement or otherwise conflicts with
the provisions hereof. The Company and the Guarantors represent and warrant to the Holders that
the rights granted to the Holders hereunder do not in any way conflict with and are not
inconsistent with the rights granted to the holders of the Company’s and the Guarantors’ securities
under any agreement in effect on the date hereof.

     (c) Amendments and Waivers. The provisions of this Agreement may not be amended,
modified or supplemented, and waivers or consents to or departures from the provisions hereof may
not be given unless (i) in the case of Section 5 hereof and this Section 10(c)(i), the Company has
obtained the written consent of Holders of all outstanding Transfer Restricted Securities and (ii)
in the case of all other provisions hereof, the Company has obtained the written consent of Holders
of a majority of the outstanding principal amount of Transfer Restricted Securities (excluding
Transfer Restricted Securities held by the Company or its Affiliates). Notwithstanding the
foregoing, a waiver or consent to departure from the provisions

19

 

hereof that relates exclusively to the rights of Holders whose Transfer Restricted Securities
are being tendered pursuant to the Exchange Offer, and that does not affect directly or indirectly
the rights of other Holders whose Transfer Restricted Securities are not being tendered pursuant to
such Exchange Offer, may be given by the Holders of a majority of the outstanding principal amount
of Transfer Restricted Securities subject to such Exchange Offer.

     (d) Third Party Beneficiary. The Holders shall be third party beneficiaries to the
agreements made hereunder between the Company and the Guarantors, on the one hand, and the Initial
Purchasers, on the other hand, and shall have the right to enforce such agreements directly to the
extent they may deem such enforcement necessary or advisable to protect the rights of Holders
hereunder.

     (e) Notices. All notices and other communications provided for or permitted hereunder
shall be made in writing by hand-delivery, first-class mail (registered or certified, return
receipt requested), telex, telecopier, or air courier guaranteeing overnight delivery:

     (i) if to a Holder, at the most current address given by such Holder to the Company in
accordance with the provisions of this Section 10(e), which address initially is, with
respect to each Holder, the address set forth on the records of the Registrar under the
Indenture, with a copy to the Registrar under the Indenture; and

     (ii) if to the Company or the Guarantors:

STATS ChipPac Ltd.

5 Yishun Street 23

Singapore 768442

Facsimile No.: (65) 822-7822

Attention: Legal Department

With a copy to:

Latham & Watkins LLP

80 Raffles Place

#14-20 UOB Plaza 2

Singapore 048624

Facsimile No.: (65) 6535-1171

Attention: Michael W. Sturrock

     All such notices and communications shall be deemed to have been duly given: at the time
delivered by hand, if personally delivered; five Business Days after being deposited in the mail,
postage prepaid, if mailed; when receipt acknowledged, if telecopied; and on the next Business Day,
if timely delivered to an air courier guaranteeing overnight delivery.

     The Company, by notice to the Registrar, may designate additional or different addresses for
subsequent notices or communications.

     Copies of all such notices, demands or other communications shall be concurrently delivered by
the Person giving the same to the Trustee at the address specified in the Indenture.

20

 

     The Company shall notify the Representatives, on the date of the Exchange Offer Registration
Statement or a Shelf Registration Statement, as the case may be, is filed with the Commission.

     (f) Successors and Assigns. This Agreement shall inure to the benefit of and be
binding upon the successors and assigns of each of the parties, including without limitation and
without the need for an express assignment, subsequent Holders; provided, that nothing herein shall
be deemed to permit any assignment, transfer or other disposition of Transfer Restricted Securities
in violation of the terms hereof or of the Purchase Agreement or the Indenture. If any transferee
of any Holder shall acquire Transfer Restricted Securities in any manner, whether by operation of
law or otherwise, such Transfer Restricted Securities shall be held subject to all of the terms of
this Agreement, and by taking and holding such Transfer Restricted Securities such Person shall be
conclusively deemed to have agreed to be bound by and to perform all of the terms and provisions of
this Agreement, including any restrictions on resale set forth in this Agreement, the Purchase
Agreement, and the Indenture, and such Person shall be entitled to receive the benefits hereof.

     (g) Counterparts. This Agreement may be executed in any number of counterparts and by
the parties hereto in separate counterparts, each of which when so executed shall be deemed to be
an original and all of which taken together shall constitute one and the same agreement.

     (h) Headings. The headings in this Agreement are for convenience of reference only
and shall not limit or otherwise affect the meaning hereof.

     (i) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE CONFLICT OF LAW RULES THEREOF.

     (j) Jurisdiction. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE COMPANY AND
EACH GUARANTOR IRREVOCABLY AGREES THAT ANY LEGAL SUIT, ACTION OR PROCEEDING BROUGHT BY ANY INITIAL
PURCHASER, ANY HOLDER OR BY ANY PERSON WHO CONTROLS SUCH HOLDER OR THE TRUSTEE ON BEHALF OF SUCH
HOLDER ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY MAY BE
INSTITUTED IN ANY FEDERAL OR STATE COURT IN THE BOROUGH OF MANHATTAN, THE CITY OF NEW YORK, NEW
YORK, AND IRREVOCABLY WAIVES ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF THE
VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING AND ANY CLAIM THAT ANY SUCH PROCEEDING BROUGHT IN SUCH
A COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM, AND IRREVOCABLY SUBMITS TO THE NON-EXCLUSIVE
JURISDICTION OF ANY SUCH COURT IN ANY SUCH SUIT, ACTION OR PROCEEDING.

     (k) Waiver of Immunity. To the extent that the Company or any of the Guarantors has
or hereafter may acquire any immunity (sovereign or otherwise) from any legal action, suit or
proceeding, from jurisdiction of any court or from set-off or any legal process (whether

21

 

service or notice, attachment in aid or otherwise) with respect to itself or any of its
property, the Company and each of the Guarantors hereby irrevocably waives and agrees not to plead
or claim such immunity in respect of its obligations under this Agreement.

     (l) Process Agent. The Company and each Guarantor has appointed CT Corporation System
(the “Process Agent”), as its agent to receive on its behalf service of copies of the
summons and complaints and any other process which may be served in any suit, action or proceeding
arising out of or relating to this Agreement or the transactions contemplated hereby brought in
such New York State or federal court sitting in The City of New York. The Company and each
Guarantor further agrees to take any and all action as may be necessary to maintain such
designation and appointment of such agent in full force and effect for a period of five years from
the date of this Agreement. Such service may be made by delivering a copy of such process to the
Company or any Guarantor in care of the Process Agent at the address for the Process Agent and
obtaining a receipt therefor, and the Company and each Guarantor hereby irrevocably authorizes and
directs such Process Agent to accept such service on its behalf. The Company and each Guarantor
represents and warrants that the Process Agent has agreed to act as said agent for service of
process, and agrees that service of process in such manner upon the Process Agent shall be deemed,
to the fullest extent permitted by applicable law, in every respect effective service of process
upon the Company and each Guarantor in any such suit, action or proceeding.

     (m) Severability. In the event that any one or more of the provisions contained
herein, or the application thereof in any circumstance, is held invalid, illegal or unenforceable,
the validity, legality and enforceability of any such provision in every other respect and of the
remaining provisions contained herein shall not be affected or impaired thereby.

     (n) Entire Agreement. This Agreement is intended by the parties as a final expression
of their agreement and intended to be a complete and exclusive statement of the agreement and
understanding of the parties hereto in respect of the subject matter contained herein. There are
no restrictions, promises, warranties or undertakings, other than those set forth or referred to
herein with respect to the registration rights granted with respect to the Transfer Restricted
Securities. This Agreement supersedes all prior agreements and understandings between the parties
with respect to such subject matter.

[Signature Pages Follow]

22

 

     IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first
written above.

	 	 	 	 	 
	 	 	STATS CHIPPAC LTD.
	 
	 	 	 	 
	 

	 	By
	 	/s/ Michael G. Potter
	 

	 	 	 	 
	 

	 	Name:
	 	Michael G. Potter
	 

	 	Title:
	 	Chief Financial Officer
	 
	 	 	 	 
	 	 	STATS CHIPPAC, INC.
	 
	 	 	 	 
	 

	 	By
	 	/s/ Michael G. Potter
	 

	 	 	 	 
	 

	 	Name:
	 	Michael G. Potter
	 

	 	Title:
	 	Vice President, Treasurer and Chief Financial
Officer
	 
	 	 	 	 
	 	 	STATS CHIPPAC TEST SERVICES, INC.
	 
	 	 	 	 
	 

	 	By
	 	/s/ Michael G. Potter
	 

	 	 	 	 
	 

	 	Name:
	 	Michael G. Potter
	 

	 	Title:
	 	Authorized Signatory
	 
	 	 	 	 
	 	 	STATS HOLDINGS LIMITED
	 
	 	 	 	 
	 

	 	By
	 	/s/ Michael G. Potter
	 

	 	 	 	 
	 

	 	Name:
	 	Michael G. Potter
	 

	 	Title:
	 	Authorized Signatory
	 
	 	 	 	 
	 	 	STATS CHIPPAC (BARBADOS) LTD.
	 
	 	 	 	 
	 

	 	By
	 	/s/ Michael G. Potter
	 

	 	 	 	 
	 

	 	Name:
	 	Michael G. Potter
	 

	 	Title:
	 	Authorized Signatory

[Signature Pages to Registration Rights Agreement]

 

 

	 	 	 	 	 
	 	 	STATS CHIPPAC (BVI) LIMITED
	 
	 	 	 	 
	 

	 	By
	 	/s/ Michael G. Potter
	 

	 	 	 	 
	 

	 	Name:
	 	Michael G. Potter
	 

	 	Title:
	 	Authorized Signatory
	 
	 	 	 	 
	 	 	STATS CHIPPAC MALAYSIA SDN. BHD.
	 
	 	 	 	 
	 

	 	By
	 	/s/ Michael G. Potter
	 

	 	 	 	 
	 

	 	Name:
	 	Michael G. Potter
	 

	 	Title:
	 	Authorized Signatory
	 
	 	 	 	 
	 	 	CHIPPAC INTERNATIONAL COMPANY LIMITED
	 
	 	 	 	 
	 

	 	By
	 	/s/ Michael G. Potter
	 

	 	 	 	 
	 

	 	Name:
	 	Michael G. Potter
	 

	 	Title:
	 	Authorized Signatory
	 
	 	 	 	 
	 	 	CHIPPAC LUXEMBOURG S.A.R.L.
	 
	 	 	 	 
	 

	 	By
	 	/s/ Michael G. Potter
	 

	 	 	 	 
	 

	 	Name:
	 	Michael G. Potter
	 

	 	Title:
	 	Authorized Signatory
	 
	 	 	 	 
	 	 	CHIPPAC LIQUIDITY MANAGEMENT HUNGARY LIMITED LIABILITY COMPANY
	 
	 	 	 	 
	 

	 	By
	 	/s/ Michael G. Potter
	 

	 	 	 	 
	 

	 	Name:
	 	Michael G. Potter
	 

	 	Title:
	 	Managing Director

[Signature Pages to Registration Rights Agreement]

 

 

	 	 	 	 	 	 	 
	CREDIT SUISSE FIRST BOSTON (SINGAPORE) LIMITED
	 
	 	 	 	 	 	 
	DEUTSCHE BANK AG, SINGAPORE BRANCH
	 
	 	 	 	 	 	 
	BY: CREDIT SUISSE FIRST BOSTON (SINGAPORE) LIMITED
	For itself and as Representative of the other Initial Purchasers
	 
	 	 	 	 	 	 
	By:

	 	 	 	/s/ Edwin Low
	/s/ Don Wood	 
	 

	 	 
	 	 
	 	 
	 

	 	Name:
	 	Edwin Low
	Don Wood	 
	 

	 	Title:
	 	Managing Director
	Managing Director	 
	 

	 	 	 	 	Legal & Compliance Department	 
	 
	 	 	 	 	 	 
	BY: DEUTSCHE BANK AG, SINGAPORE BRANCH
	For itself and as Representative of the other Initial Purchasers
	 
	 	 	 	 	 	 
	By:

	 	 	 	/s/ Juhi Prasad	 	 
	 

	 	 
	 	 	 	 
	 

	 	Name:
	 	Juhi Prasad	 	 
	 

	 	Title:
	 	Director	 	 
	 
	 	 	 	 	 	 
	By:

	 	 	 	/s/ Jocelyn Court	 	 
	 

	 	 
	 	 	 	 
	 

	 	Name:
	 	Jocelyn Court	 	 
	 

	 	Title:
	 	Director	 	 

[Signature Pages to Registration Rights Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00090-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00090-of-00352.parquet"}]]