Document:

exv4w1

Exhibit 4.1

 

 

DELPHI FINANCIAL GROUP, INC.

and

U.S. BANK NATIONAL ASSOCIATION,

as Trustee

 

INDENTURE

Dated as of January 20, 2010

 

Senior Debt Securities

 

 

 

 

          Reconciliation and tie between Trust Indenture Act of 1939 and Indenture, dated as of        .

	 	 	 	 	 	 	 	 	 
	Trust Indenture	 	 	 	 
	Act Section	 	 	 	Indenture Section
	 
	 	 	 	 	 	 	 	 
	§ 310

	 	(a)
	 	 
	 	609
	 

	 	(b)
	 	 	 	608, 610
	 

	 	(c)
	 	 	 	Not Applicable

	§ 311

	 	(a)
	 	 	 	613
	 

	 	(b)
	 	 	 	613
	 

	 	(c)
	 	 	 	Not Applicable

	§ 312

	 	(a)
	 	 	 	701, 702(a)
	 

	 	(b)
	 	 	 	702(b)
	 

	 	(c)
	 	 	 	702(c)
	§ 313

	 	(a)
	 	 	 	703(a)
	 

	 	(b)
	 	 	 	703(b)
	 

	 	(c)
	 	 	 	703(b)
	 

	 	(d)
	 	 	 	703(c)
	§ 314

	 	(a)
	 	 	 	704
	 

	 	(b)
	 	 	 	Not Applicable

	 

	 	(c)
	 	 	 	102
	 

	 	(d)
	 	 	 	Not Applicable

	 

	 	(e)
	 	 	 	102
	 

	 	(f)
	 	 	 	Not Applicable

	§ 315

	 	(a)
	 	 	 	601
	 

	 	(b)
	 	 	 	602, 703(b)
	 

	 	(c)
	 	 	 	601(b)
	 

	 	(d)
	 	 	 	601(c)
	 

	 	(e)
	 	 	 	514
	§ 316

	 	(a)(1)
	 	 	 	512, 513
	 

	 	(b)
	 	 	 	508
	 

	 	(c)
	 	 	 	104(d)
	§ 317

	 	(a)(1)
	 	 	 	503
	 

	 	(a)(2)
	 	 	 	504
	 

	 	(b)
	 	 	 	903
	§ 318

	 	(a)
	 	 	 	107

	NOTE:	 	This reconciliation and tie shall not, for any purpose, be deemed to be a part of the Indenture.

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 
	 	 	 	 	Page
	 
	 	 	 	 	 	 
	ARTICLE ONE

	 
	 	 	 	 	 	 
	DEFINITIONS AND OTHER PROVISIONS

	OF GENERAL APPLICATION

	 
	 	 	 	 	 	 
	SECTION 101.
	 	Definitions	 	 	1	 
	SECTION 102.
	 	Compliance Certificates and Opinions	 	 	7	 
	SECTION 103.
	 	Form of Documents Delivered to Trustee	 	 	7	 
	SECTION 104.
	 	Acts of Holders	 	 	8	 
	SECTION 105.
	 	Notices, Etc., to Trustee and Company	 	 	9	 
	SECTION 106.
	 	Notice to Holders; Waiver	 	 	9	 
	SECTION 107.
	 	Conflict with Trust Indenture Act	 	 	10	 
	SECTION 108.
	 	Effect of Headings and Table of Contents	 	 	10	 
	SECTION 109.
	 	Successors and Assigns	 	 	10	 
	SECTION 110.
	 	Separability Clause	 	 	10	 
	SECTION 111.
	 	Benefits of Indenture	 	 	10	 
	SECTION 112.
	 	Governing Law	 	 	10	 
	SECTION 113.
	 	Legal Holidays	 	 	10	 
	SECTION 114.
	 	References to Currency	 	 	11	 
	SECTION 115.
	 	Force Majeure	 	 	11	 
	SECTION 116.
	 	U.S.A. Patriot Act	 	 	11	 
	SECTION 117.
	 	Waiver of Jury Trial/Submission to Jurisdiction	 	 	11	 
	SECTION 118.
	 	Counterparts	 	 	12	 
	 
	 	 	 	 	 	 
	ARTICLE TWO

	 
	SECURITY FORMS

	 
	 	 	 	 	 	 
	SECTION 201.
	 	Forms Generally	 	 	12	 
	SECTION 202.
	 	Form of Trustee’s Certificate of Authentication	 	 	13	 
	SECTION 203.
	 	Securities Issuable in the Form of a Global Security	 	 	13	 
	 
	 	 	 	 	 	 
	ARTICLE THREE

	 
	THE SECURITIES

	 
	 	 	 	 	 	 
	SECTION 301.
	 	Amount Unlimited; Issuable in Series	 	 	15	 
	SECTION 302.
	 	Denominations	 	 	17	 
	SECTION 303.
	 	Execution, Authentication, Delivery and Dating	 	 	17	 
	SECTION 304.
	 	Temporary Securities	 	 	19	 
	SECTION 305.
	 	Registration, Registration of Transfer and Exchange	 	 	19	 
	SECTION 306.
	 	Mutilated, Destroyed, Lost and Stolen Securities	 	 	20	 
	SECTION 307.
	 	Payment of Interest; Interest Rights Preserved	 	 	21	 

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	 	 	 	 	Page
	 
	 	 	 	 	 	 
	SECTION 308.
	 	Persons Deemed Owners	 	 	22	 
	SECTION 309.
	 	Cancellation	 	 	22	 
	SECTION 310.
	 	Computation of Interest	 	 	22	 
	SECTION 311.
	 	CUSIP Numbers	 	 	22	 
	 
	 	 	 	 	 	 
	ARTICLE FOUR

	 
	SATISFACTION AND DISCHARGE

	 
	 	 	 	 	 	 
	SECTION 401.
	 	Satisfaction and Discharge of Indenture	 	 	23	 
	SECTION 402.
	 	Application of Trust Funds; Indemnification	 	 	24	 
	SECTION 403.
	 	Defeasance and Discharge of Indenture	 	 	24	 
	SECTION 404.
	 	Defeasance of Certain Obligations	 	 	26	 
	 
	 	 	 	 	 	 
	ARTICLE FIVE

	 
	REMEDIES

	 
	 	 	 	 	 	 
	SECTION 501.
	 	Events of Default	 	 	27	 
	SECTION 502.
	 	Acceleration of Maturity: Rescission and Annulment	 	 	28	 
	SECTION 503.
	 	Collection of Indebtedness and Suits for Enforcement by Trustee	 	 	29	 
	SECTION 504.
	 	Trustee May File Proofs of Claim	 	 	30	 
	SECTION 505.
	 	Trustee May Enforce Claims Without Possession of Securities	 	 	31	 
	SECTION 506.
	 	Application of Money Collected	 	 	31	 
	SECTION 507.
	 	Limitation on Suits	 	 	31	 
	SECTION 508.
	 	Unconditional Right of Holders to Receive Principal, Premium and Interest	 	 	32	 
	SECTION 509.
	 	Restoration of Rights and Remedies	 	 	32	 
	SECTION 510.
	 	Rights and Remedies Cumulative	 	 	32	 
	SECTION 511.
	 	Delay or Omission Not Waiver	 	 	33	 
	SECTION 512.
	 	Control by Holders	 	 	33	 
	SECTION 513.
	 	Waiver of Past Defaults	 	 	33	 
	SECTION 514.
	 	Undertaking for Costs	 	 	34	 
	SECTION 515.
	 	Waiver of Stay or Extension Laws	 	 	34	 
	 
	 	 	 	 	 	 
	ARTICLE SIX

	 
	THE TRUSTEE

	 
	 	 	 	 	 	 
	SECTION 601.
	 	Certain Duties and Responsibilities	 	 	34	 
	SECTION 602.
	 	Notice of Defaults	 	 	35	 
	SECTION 603.
	 	Certain Rights of Trustee	 	 	36	 
	SECTION 604.
	 	Not Responsible for Recitals or Issuance of Securities	 	 	37	 
	SECTION 605.
	 	May Hold Securities	 	 	38	 
	SECTION 606.
	 	Money Held in Trust	 	 	38	 

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	 	 	 	 	Page
	 
	 	 	 	 	 	 
	SECTION 607.
	 	Compensation and Reimbursement	 	 	38	 
	SECTION 608.
	 	Disqualification; Conflicting Interests	 	 	39	 
	SECTION 609.
	 	Corporate Trustee Required; Eligibility	 	 	39	 
	SECTION 610.
	 	Resignation and Removal; Appointment of Successor	 	 	39	 
	SECTION 611.
	 	Acceptance of Appointment by Successor	 	 	41	 
	SECTION 612.
	 	Merger, Conversion, Consolidation or Succession to Business	 	 	42	 
	SECTION 613.
	 	Preferential Collection of Claims Against Company	 	 	42	 
	 
	 	 	 	 	 	 
	ARTICLE SEVEN

	 
	HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY

	 
	 	 	 	 	 	 
	SECTION 701.
	 	Company to Furnish Trustee Names and Addresses of Holders	 	 	42	 
	SECTION 702.
	 	Preservation of Information; Communications to Holders	 	 	43	 
	SECTION 703.
	 	Reports by Trustee	 	 	44	 
	SECTION 704.
	 	Reports by Company	 	 	45	 
	 
	 	 	 	 	 	 
	ARTICLE EIGHT

	 
	AMENDMENTS & SUPPLEMENTAL INDENTURES

	 
	 	 	 	 	 	 
	SECTION 801.
	 	Amendments or Supplemental Indentures without Consent of Holders	 	 	45	 
	SECTION 802.
	 	Amendments or Supplemental Indentures with Consent of Holders	 	 	46	 
	SECTION 803.
	 	Execution of Supplemental Indentures	 	 	47	 
	SECTION 804.
	 	Effect of Supplemental Indentures	 	 	48	 
	SECTION 805.
	 	Conformity with Trust Indenture Act	 	 	48	 
	SECTION 806.
	 	Reference in Securities to Supplemental Indentures	 	 	48	 
	 
	 	 	 	 	 	 
	ARTICLE NINE

	 
	COVENANTS

	 
	 	 	 	 	 	 
	SECTION 901.
	 	Payment of Principal, Premium and Interest	 	 	48	 
	SECTION 902.
	 	Maintenance of Office or Agency	 	 	48	 
	SECTION 903.
	 	Money for Securities; Payments to Be Held in Trust	 	 	49	 
	SECTION 904.
	 	Corporate Existence	 	 	50	 
	SECTION 905.
	 	Maintenance of Properties	 	 	50	 
	SECTION 906.
	 	Statement by Officers as to Default	 	 	51	 
	SECTION 907.
	 	Waiver of Certain Covenants	 	 	51	 
	SECTION 908.
	 	Calculation of Original Issue Discount	 	 	51	 

-iii-

 

	 	 	 	 	 	 	 
	 	 	 	 	Page
	 
	 	 	 	 	 	 
	ARTICLE TEN

	 
	REDEMPTION OF SECURITIES

	 
	 	 	 	 	 	 
	SECTION 1001.
	 	Applicability of Article	 	 	51	 
	SECTION 1002.
	 	Election to Redeem; Notice to Trustee	 	 	51	 
	SECTION 1003.
	 	Selection by Trustee of Securities to Be Redeemed	 	 	52	 
	SECTION 1004.
	 	Notice of Redemption	 	 	52	 
	SECTION 1005.
	 	Deposit of Redemption Price	 	 	53	 
	SECTION 1006.
	 	Securities Payable on Redemption Date	 	 	53	 
	SECTION 1007.
	 	Securities Redeemed in Part	 	 	54	 
	 
	 	 	 	 	 	 
	ARTICLE ELEVEN

	 
	SINKING FUNDS

	 
	 	 	 	 	 	 
	SECTION 1101.
	 	Applicability of Article	 	 	54	 
	SECTION 1102.
	 	Satisfaction of Sinking Fund Payments with Securities	 	 	54	 
	SECTION 1103.
	 	Redemption of Securities for Sinking Fund	 	 	55	 

-iv-

 

          INDENTURE, dated as of January 20, 2010 between Delphi Financial Group, Inc., a Delaware
corporation (herein called the “Company” or the “Issuer”), having its principal office at 1105
North Market Street, Suite 1230, P.O. Box 8985, Wilmington, Delaware 19801 and U.S. Bank National
Association, a national banking association, as trustee hereunder (herein called the “Trustee”).

RECITALS OF THE COMPANY

          The Company has duly authorized the execution and delivery of this Indenture to provide for
the issuance from time to time of its unsecured debentures, notes or other evidences of
indebtedness (herein called the “Securities”), to be issued in one or more series as in this
Indenture provided.

          All things necessary to make this Indenture a valid agreement of the Company, in accordance
with its terms, have been done.

          NOW, THEREFORE, THIS INDENTURE WITNESSETH:

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

ARTICLE ONE

DEFINITIONS AND OTHER PROVISIONS

OF GENERAL APPLICATION

SECTION 101. Definitions.

          For all purposes of this Indenture, except as otherwise expressly provided or unless the
context otherwise requires:

     (1) the terms defined in this article have the meanings assigned to them in this
article and include the plural as well as the singular;

     (2) all other terms used herein which are defined in the Trust Indenture Act, either
directly or by reference therein, have the meanings assigned to them therein;

     (3) all accounting terms not otherwise defined herein have the meanings assigned to
them in accordance with generally accepted accounting principles in the United States, and,
except as otherwise herein expressly provided, the term “generally accepted accounting
principles” with respect to any computation required or permitted hereunder shall mean such
accounting principles as are generally accepted at the date of such computation;

     (4) the words “herein,” “hereof” and “hereunder” and other words of similar import
refer to this Indenture as a whole and not to any particular article, section or other
subdivision; and

 

 

     (5) all references used herein to the male gender shall include the female gender.

          “Act,” when used with respect to any Holder, has the meaning specified in Section 104.

          “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 the
purposes of this definition, “control” when used with respect to any specified Person means the
power to direct the management and policies of such Person, directly or indirectly, whether through
the ownership of voting securities, by contract or otherwise; and the terms “controlling” and
“controlled” have meanings correlative to the foregoing.

          “Board of Directors” means either the board of directors of the Company or any duly authorized
committee of that board duly authorized to act hereunder.

          “Board Resolution” means a copy of a resolution, certified by the secretary or an assistant
secretary of the Company to have been duly adopted by the Board of Directors and to be in full
force and effect on the date of such certification, delivered to the Trustee.

          “Business Day” means, with respect to any Securities, a day that in the City of New York or in
any Place of Payment is not a day on which banking institutions are authorized by law or regulation
to close.

          “Capital Stock” for any entity means any and all shares, interests, rights to purchase,
warrants, options, participations or other equivalents of or interests in (however designated)
shares issued by that entity.

          “Certificated Securities” means Securities that are in registered definitive form.

          “Class A Common Stock” means the Class A Common Stock of the Company, par value $0.01 per
share.

          “Commission” means the Securities and Exchange Commission, as from time to time constituted,
created under the Securities Exchange Act of 1934, or, if at any time after the execution of this
instrument such Commission is not existing and performing the duties now assigned to it under the
Trust Indenture Act, then the body performing such duties at such time.

          “Company” means the Person named as the “Company” in the first paragraph of this instrument
until a successor corporation shall have become such pursuant to the applicable provisions of this
Indenture, and thereafter “Company” shall mean such successor corporation.

          “Company Request” or “Company Order” means a written request or order signed in the name of
the Company by its chairman of the board, a vice chairman, its president or a vice president, and
by its treasurer, an assistant treasurer, its secretary or an assistant secretary, and delivered to
the Trustee.

-2-

 

          “Corporate Trust Office” means the office of the Trustee at which at any particular time the
trust created by this Indenture shall be administered, which office, at the time of the execution
of this Indenture, is located at 100 Wall Street, Suite 1600, New York, NY 10005 Attn: Corporate
Trust Services.

          “Defaulted Interest” has the meaning specified in Section 307.

          “Depositary” means, unless otherwise specified by the Company pursuant to either Section 203
or 301, with respect to Securities of any series issuable or issued as a Global Security, The
Depository Trust Company, New York, New York, or any successor thereto registered under the
Securities Exchange Act of 1934, as amended, or other applicable statute or regulation.

          “Event of Default” has the meaning specified in Section 501.

          “Global Security” means a Security issued to evidence all or a part of any series of
Securities which is executed by the Company and authenticated and delivered by the Trustee to the
Depositary or pursuant to the Depositary’s instruction, all in accordance with this Indenture and
pursuant to a Company Order, which shall be registered in the name of the Depositary or its
nominee.

          “Holder” means a Person in whose name a Security is registered in the Security Register.

          “Holder Action” has the meaning specified in Section 702(d).

          “Indenture” means this instrument as originally executed or as it may from time to time be
supplemented or amended by one or more amendments or indentures supplemental hereto entered into
pursuant to the applicable provisions hereof and shall include the terms of particular series of
Securities established as contemplated by Section 301.

          “Interest,” when used with respect to an Original Issue Discount Security which by its terms
bears interest only after Maturity, means interest payable after Maturity.

          “Interest Payment Date,” when used with respect to any Security, means the Stated Maturity of
an installment of interest on such Security.

          “Issuer” means the Person named as the “Issuer” in the first paragraph of this instrument
until a successor corporation shall have become such pursuant to the applicable provisions of this
Indenture, and thereafter “Issuer” shall mean such successor corporation.

          “Maturity,” when used with respect to any Security, means the date on which the principal of
such Security or an installment of principal becomes due and payable as therein or herein provided,
whether at the Stated Maturity or by declaration of acceleration, call for redemption or otherwise.

          “Notice of Default” has the meaning specified in Section 501(4).

-3-

 

          “Officers’ Certificate” means a certificate signed by the chairman of the board, the president
or a vice president, and by the treasurer, an assistant treasurer, the secretary or an assistant
secretary, of the Company, and delivered to the Trustee.

          “Opinion of Counsel” means written opinion of counsel, who may be counsel for the Company and
who shall be acceptable to the Trustee.

          “Original Issue Discount Security” means any Security which provides for an amount less than
the principal amount thereof to be due and payable upon a declaration of acceleration of the
Maturity thereof pursuant to Section 502.

          “Outstanding,” when used with respect to Securities, means, as of the date of determination,
all Securities theretofore authenticated and delivered under this Indenture, except:

     (i) Securities theretofore cancelled by the Trustee or delivered to the Trustee for
cancellation;

     (ii) Securities for whose payment or redemption money or evidences of indebtedness in
the necessary amount has been theretofore deposited with the Trustee or any Paying Agent
(other than the Company) in trust or set aside and segregated in trust by the Company (if
the Company shall act as its own Paying Agent) for the Holders of such Securities;
provided that, if such Securities are to be redeemed, notice of such redemption has
been duly given pursuant to this Indenture or provision therefor satisfactory to the Trustee
has been made; and

     (iii) Securities which have been paid pursuant to Section 306 or in exchange for or in
lieu of which other Securities have been authenticated and delivered pursuant to this
Indenture, other than any such Securities in respect of which there shall have been
presented to the Trustee proof satisfactory to it that such Securities are held by a bona
fide purchaser in whose hands such Securities are valid obligations of the Company;

provided, however, that in determining whether the Holders of the requisite
principal amount of the Outstanding Securities have given any request, demand, authorization,
direction, notice, consent or waiver hereunder, Securities owned by the Company or any other
obligor upon the Securities or any Affiliate of the Company or of such other obligor shall be
disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall
be protected in relying upon any such request, demand, authorization, direction, notice, consent or
waiver, only Securities which a Responsible Officer of the Trustee actually knows to be so owned
shall be so disregarded. Securities so owned which have been pledged in good faith may be regarded
as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so
to act with respect to such Securities and that the pledgee is not the Company or any other obligor
upon the Securities or any Affiliate of the Company or of such other obligor. In case of a dispute
as to such right, any decision by the Trustee shall be full protection to the Trustee. Upon
request of the Trustee, the Company shall furnish to the Trustee promptly an Officers’ Certificate
listing and identifying all Securities, if any, known by the Company to be owned or held by or for
the account of any of the above-described persons; and, subject to Section 601, the Trustee shall
be entitled to accept such Officers’ Certificate as conclusive evidence of the facts therein set
forth

-4-

 

and of the fact that all Securities not listed therein are Outstanding for the purposes of any such
determination.

          “Paying Agent” means any Person authorized by the Company to pay the principal of (and
premium, if any) or interest on any Securities on behalf of the Company.

          “Person” means any individual, corporation, partnership, limited liability company, joint
venture, association, joint-stock company, trust, unincorporated organization or government or any
agency or political subdivision thereof.

          “Place of Payment,” when used with respect to the Securities of any series, means the place or
places where the principal of (and premium, if any) and interest on the Securities of that series
are payable as specified as contemplated by Section 301.

          “Predecessor Security” of any particular Security means every previous Security evidencing all
or a portion of the same debt as that evidenced by such particular Security; and, for the purposes
of this definition, any Security authenticated and delivered under Section 306 in exchange for or
in lieu of a mutilated, destroyed, lost or stolen Security shall be deemed to evidence the same
debt as the mutilated, destroyed, lost or stolen Security.

          “Preferred Stock” means the preferred stock of the Company, par value $0.01 per share, of any
class or series, however designated.

          “Redemption Date,” when used with respect to any Security to be redeemed, means the date fixed
for such redemption by or pursuant to this Indenture.

          “Redemption Price,” when used with respect to any Security to be redeemed, means the price at
which it is to be redeemed pursuant to this Indenture.

          “Regular Record Date” for the interest payable on any Interest Payment Date on the Securities
of any series means the date specified for that purpose as contemplated by Section 301.

          “Responsible Officer,” when used with respect to the Trustee, means any vice president,
assistance vice president, trust officer or assistant trust officer 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 and who shall have responsibility for the administration of this Indenture.

          “Securities” has the meaning stated in the first recital of this Indenture and more
particularly means any Securities authenticated and delivered under this Indenture.

          “Security Register” and “Security Registrar” have the respective meanings specified in Section
305.

-5-

 

          “Special Record Date” for the payment of any Defaulted Interest means a date fixed by the
Trustee pursuant to Section 307.

          “Stated Maturity,” when used with respect to any Security or any installment of principal
thereof or interest thereon, means the date specified in such Security as the fixed date on which
the principal of such Security or such installment of principal or interest is due and payable.

          “Subsidiary” means, with respect to any Person:

	 	(1)	 	any corporation or company a majority of whose Capital Stock
with voting power, under ordinary circumstances, to elect directors is, whether
at all times or only so long as no senior class of stock or other equity
interest has such voting power by reason of any contingency, directly or
indirectly, owned by such Person (a “subsidiary”), by one or more subsidiaries
of such Person or by such Person and one or more subsidiaries of such Person;
	 
	 	(2)	 	a partnership in which such Person or a subsidiary of such
Person is, at the date of determination, a general partner of such partnership;
or
	 
	 	(3)	 	any partnership, limited liability company or other Person in
which such Person, a subsidiary of such Person or such Person and one or more
subsidiaries of such Person, directly or indirectly, whether at all times or
only so long as no senior class of stock or other equity interest has such
voting power by reason of any contingency, has (x) at least a majority
ownership interest or (y) the power to elect or appoint or direct the election
or appointment of the managing partner or member of such Person or, if
applicable, a majority of the directors or other governing body of such Person.

          “Trustee” means the Person named as the “Trustee” in the first paragraph of this instrument
until a successor Trustee shall have become such pursuant to the applicable provisions of this
Indenture, and thereafter “Trustee” shall mean or include each Person who is then a Trustee
hereunder, and if at any time there is more than one such Person, “Trustee” as used with respect to
the Securities of any series shall mean the Trustee with respect to Securities of that series.

          “Trust Indenture Act” means the Trust Indenture Act of 1939 as amended and in force at the
date as of which this instrument was executed, except as provided in Section 805.

          “U.S. Government Obligations” means securities which are (i) direct obligations of the United
States of America for the payment of which its full faith and credit is pledged or (ii) obligations
of a Person controlled or supervised by and acting as an agency or instrumentality of the United
States of America the payment of which is unconditionally guaranteed as to the timely payment of
principal and interest as a full faith and credit obligation by the United States of America,
which, in either case, are not callable or redeemable at the option of the issuer thereof, and
shall also include a depository receipt issued by a bank or trust company which is a

-6-

 

member of the
Federal Reserve System and having a combined capital and surplus of at least $50,000,000 as
custodian with respect to any such obligation evidenced by such depository receipt or a specific
payment of interest on or principal of any such obligation held by such custodian for
the account of the holder of a depository receipt; provided that (except as
required by law) such custodian is not authorized to make any deduction from the amount payable to
the holder of such depository receipt from any amount received by the custodian in respect of the
obligation set forth in (i) or (ii) above or the specific payment of interest on or principal of
such obligation evidenced by such depository receipt.

SECTION 102. Compliance Certificates and Opinions.

          Upon any application or request by the Company to the Trustee to take any action under any
provision of this Indenture, the Company shall furnish to the Trustee an Officers’ Certificate
stating that all conditions precedent, if any, provided for in this Indenture relating to the
proposed action have been complied with and, where appropriate as to matters of law, an Opinion of
Counsel stating that in the opinion of such counsel all such conditions precedent, if any, have
been complied with, except that in the case of any such application or request as to which the
furnishing of such documents is specifically required by any provision of this Indenture relating
to such particular application or request, no additional certificate or opinion need be furnished.

          Every certificate or opinion with respect to compliance with a condition or covenant provided
for in this Indenture shall include:

     (1) a statement that the Person signing such certificate or opinion has read such
covenant or condition and the definitions herein relating thereto;

     (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;

     (3) a statement that, in the opinion of each such Person, such Person has made such
examination or investigation as is necessary to enable him to express an informed opinion as
to whether or not such condition or covenant has been complied with; and

     (4) a statement as to whether, in the opinion of each such Person, such condition or
covenant has been complied with.

SECTION 103. Form of Documents Delivered to Trustee.

          In any case where several matters are required to be certified by, or covered by an opinion
of, any specified Person, it is not necessary that all such matters be certified by, or covered by
the opinion of, only one such Person, or that they be so certified or covered by only one document,
but one such Person may certify or give an opinion with respect to some matters and one or more
other such Persons as to other matters, and any such Person may certify or give an opinion as to
such matters in one or several documents.

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          Any certificate or opinion of an officer of the Company may be based, insofar as it relates to
legal matters, upon a certificate or opinion of, or representations by, counsel, unless such
officer knows, or in the exercise of reasonable care should know, that the certificate or opinion
or representations with respect to such matters is erroneous. Any certificate of counsel
or Opinion of Counsel may be based, insofar as it relates to factual matters, upon a
certificate or opinion of, or representations by, an officer or officers of the Company stating
that the information with respect to such factual matters is in the possession of the Company,
unless such counsel knows, or in the exercise of reasonable care should know, that the certificate
or opinion or representations with respect to such matters are erroneous.

          Where any Person is required to make, give or execute two or more applications, requests,
consents, certificates, statements, opinions or other instruments under this Indenture, they may,
but need not, be consolidated and form one instrument.

SECTION 104. Acts of Holders.

          (a) Any request, demand, authorization, direction, notice, consent, waiver or other action
provided by this Indenture to be given or taken by Holders may be embodied in and evidenced by one
or more instruments of substantially similar tenor signed by such Holders in person or by an agent
duly appointed in writing; and, except as herein otherwise expressly provided, such action shall
become effective when such instrument or instruments are delivered to the Trustee and, where it is
hereby expressly required, to the Company. Such instrument or instruments (and the action embodied
therein and evidenced thereby) are herein sometimes referred to as the “Act” of the Holders signing
such instrument or instruments. Proof of execution of any such instrument or of a writing
appointing any such agent shall be sufficient for any purpose of this Indenture and (subject to
Section 601) conclusive in favor of the Trustee and the Company, if made in the manner provided in
this section.

          (b) The fact and date of the execution of any such instrument or writing, or the authority of
the Person executing the same, may be proved in accordance with such reasonable rules and
regulations as may be prescribed by the Trustee or in any reasonable manner which the Trustee deems
sufficient.

          (c) The ownership of Securities shall be proved by the Security Register.

          (d) If the Company shall solicit from the Holders any request, demand, authorization,
direction, notice, consent, waiver or other Act, the Company may, at its option, by or pursuant to
a Board Resolution, fix in advance a record date for the determination of Holders entitled to give
such request, demand, authorization, direction, notice, consent, waiver or other Act, but the
Company shall have no obligation to do so. Notwithstanding Trust Indenture Act Section 316(c),
such record date shall be the record date specified in or pursuant to such Board Resolution, which
shall be a date not earlier than the date 30 days prior to the first solicitation of Holders
generally in connection therewith and not later than the date such solicitation is completed. If
such a record date is fixed, such request, demand, authorization, direction, notice, consent,
waiver or other Act maybe given before or after such record date, but only the Holders of record at
the close of business on such record date shall be deemed to be Holders for the purposes of
determining whether Holders of the requisite proportion of Outstanding Securities shall be com-

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puted
as of such record date; provided, however, that no such authorization, agreement or
consent by such Holders on such record date shall be deemed effective unless it shall become
effective pursuant to the provisions of this Indenture not later than eleven months after the
record date.

          (e) Any request, demand, authorization, direction, notice, consent, waiver or other Act of the
Holder of any Security shall bind every future Holder of the same Security and the Holder of every
Security issued upon the registration of transfer thereof or in exchange therefor or in lieu
thereof in respect of anything done, omitted or suffered to be done by the Trustee or the Company
in reliance thereon, whether or not notation of such action is made upon such Security.

SECTION 105. Notices, Etc., to Trustee and Company.

          Any request, demand, authorization, direction, notice, consent, waiver or Act of Holders or
other document provided or permitted by this Indenture to be made upon, given or furnished to, or
filed with,

     (1) the Trustee by any Holder or by the Company shall be sufficient for every purpose
hereunder (unless expressly provided) if made, given, furnished or filed in writing
(including telecopy) and mailed, first-class postage prepaid, to or with the Trustee at its
Corporate Trust Office, Attention: Michelle Mena, or

     (2) the Company by the Trustee or by any Holder shall be sufficient for every purpose
hereunder (unless otherwise herein expressly provided) if in writing and mailed, first-class
postage prepaid, to the Company addressed to it at the address of its principal office
specified in the first paragraph of this instrument or at any other address previously
furnished in writing to the Trustee by the Company, to the attention of the general counsel
of the Company.

SECTION 106. Notice to Holders; Waiver.

          Where this Indenture provides for notice to Holders of any event, such notice shall be
sufficiently given (unless otherwise herein expressly provided) if in writing and mailed,
first-class postage prepaid, to each Holder affected by such event, at his address as it appears in
the Security Register, not later than the latest date, and not earlier than the earliest date,
prescribed for the giving of such notice. In any case where notice to Holders is given by mail,
neither the failure to mail such notice, nor any defect in any notice so mailed, to any particular
Holder shall affect the sufficiency of such notice with respect to other Holders. Where this
Indenture provides for notice in any manner, such notice may be waived in writing by the Person
entitled to receive such notice, either before or after the event, and such waiver shall be the
equivalent of such notice. Waivers of notice by Holders shall be filed with the Trustee, but such
filing shall not be a condition precedent to the validity of any action taken in reliance upon such
waiver.

          In case by reason of the suspension of regular mail service or by reason of any other case it
shall be impracticable to give such notice by mail, then such notification as shall be

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made with
the approval of the Trustee shall constitute a sufficient notification for every purpose hereunder.

SECTION 107. Conflict with Trust Indenture Act.

          If any provision hereof limits, qualifies or conflicts with another provision which is
required or deemed to be included in this Indenture by any of the provisions of the Trust Indenture
Act, such required or deemed provision shall control.

SECTION 108. Effect of Headings and Table of Contents.

          The article and section headings herein and the table of contents are for convenience only and
shall not affect the construction hereof.

SECTION 109. Successors and Assigns.

          All covenants and agreements in this Indenture by the Company shall bind its successors and
assigns, whether so expressed or not.

SECTION 110. Separability Clause.

          In case any provision in this Indenture or in the Securities shall be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining provisions shall not in
any way be affected or impaired thereby.

SECTION 111. Benefits of Indenture.

          Nothing in this Indenture or in the Securities, express or implied, shall give to any Person,
other than the parties hereto and their successors hereunder and the Holders, any benefit or any
legal or equitable right, remedy or claim under this Indenture.

SECTION 112. Governing Law.

          This Indenture and the Securities shall be governed by and construed in accordance with the
laws of the State of New York, without regard to conflicts of laws principles thereof.

SECTION 113. Legal Holidays.

          In any case where any Interest Payment Date, Redemption Date or Stated Maturity of any
Security shall not be a Business Day at any Place of Payment, then (notwithstanding any other
provision of this Indenture or of the Securities) payment of interest or principal (and premium, if
any) need not be made at such Place of Payment on such date, but may be made on the next succeeding
Business Day at such Place of Payment with the same force and effect as if made on the Interest
Payment Date or Redemption Date, or at the Stated Maturity, provided that no interest shall
accrue for the period from and after such Interest Payment Date, Redemption Date or Stated
Maturity, as the case may be.

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SECTION 114. References to Currency.

          All references in this Indenture to “dollars” or “$” are to the currency of the United States
of America.

SECTION 115. Force Majeure.

          In no event shall the Trustee be responsible or liable for any failure or delay in the
performance of its obligations hereunder arising out of or caused by, directly or indirectly,
forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts
of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of
God, and interruptions, loss or malfunctions of utilities, communications or computer (software and
hardware) services; it being understood that the Trustee shall use reasonable efforts which are
consistent with accepted practices in the banking industry to resume performance as soon as
practicable under the circumstances.

SECTION 116. U.S.A. Patriot Act.

          The parties hereto acknowledge that in accordance with Section 326 of the U.S.A. Patriot Act,
the Trustee, like all financial institutions and in order to help fight the funding of terrorism
and money laundering, is required to obtain, verify, and record information that identifies each
person or legal entity that establishes a relationship or opens an account with the Trustee. The
parties to this Indenture agree that they will provide the Trustee with such information as it may
request in order for the Trustee to satisfy the requirements of the U.S.A. Patriot Act.

SECTION 117. Waiver of Jury Trial/Submission to Jurisdiction.

          EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED
BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR
RELATING TO THIS INDENTURE, THE SECURITIES OR THE TRANSACTION CONTEMPLATED HEREBY.

          To the fullest extent permitted by applicable law, the Company hereby irrevocably submits to
the jurisdiction of any Federal or State court located in the Borough of Manhattan in The City of
New York, New York in any suit, action or proceeding based on or arising out of or relating to this
Indenture or any Securities and irrevocably agrees that all claims in respect of such suit or
proceeding may be determined in any such court. The Company irrevocably waives, to the fullest
extent permitted by law, any objection which it may have to the laying of the venue of any such
suit, action or proceeding brought in an inconvenient forum. The Company agrees that final
judgment in any such suit, action or proceeding brought in such a court shall be conclusive and
binding upon the Company, and may be enforced in any courts to the jurisdiction of which the
Company is subject by a suit upon such judgment, provided that service of process is
effected upon the Company in the manner specified herein or as otherwise permitted by law. The
Company hereby irrevocably designates and appoints CT Corporation (the “Process Agent”) as its
authorized agent for purposes of this section, it being understood that the designation and
appointment of the Process Agent as such authorized agent shall become effective immediately

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without any further action on the part of the Company. The Company further agrees that service
of process upon the Process Agent and written notice of said service to the Company, mailed by
prepaid registered first class mail or delivered to the Process Agent at its principal office,
shall be deemed in every respect effective service of process upon the Company in any such suit or
proceeding. The Company further agrees to take any and all action, including the execution and
filing of any and all such documents and instruments as may be necessary, to continue such
designation and appointment of the Process Agent in full force and effect so long as the Company
has any outstanding obligations under this Indenture. To the extent the Company has or hereafter
may acquire any immunity from jurisdiction of any court or from any legal process (whether through
service of notice, attachment prior to judgment, attachment in aid of execution, executor or
otherwise) with respect to itself or its property, the Company hereby irrevocably waives such
immunity in respect of its obligations under this Indenture to the extent permitted by law.

SECTION 118. Counterparts.

          This Indenture may be executed in any number of counterparts, each of which so executed shall
be deemed to be an original, but all such counterparts shall together constitute but one and the
same instrument. The exchange of copies of this Indenture and of signature pages by facsimile or
PDF transmission shall constitute effective execution and delivery of this Indenture as to the
parties hereto and may be used in lieu of the original Indenture for all purposes. Signatures of
the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures
for all purposes.

ARTICLE TWO

SECURITY FORMS

SECTION 201. Forms Generally.

          The Securities of each series shall be in substantially the forms established in one or more
indentures supplemental hereto or approved from time to time by or pursuant to a Board Resolution
in accordance with Section 301, in each case with such appropriate insertions, omissions,
substitutions and other variations as are required or permitted by this Indenture and any indenture
supplemental hereto, and may have such letters, numbers or other marks of identification and such
legends or endorsements placed thereon as may be required to comply with the rules of any
securities exchange or securities regulatory authority or as may, consistently herewith, be
determined by the officers executing such Securities, as evidenced by their execution of the
Securities. If the form of Securities of any series is established by action taken pursuant to a
Board Resolution, a copy of an appropriate record of such action shall be certified by the
secretary or an assistant secretary of the Company and delivered to the Trustee at or prior to the
delivery of the Company Order contemplated by Section 303 for the authentication and delivery of
such Securities.

          The definitive Securities shall be printed, lithographed or engraved on steel engraved borders
or may be produced in any other manner, all as determined by the officers executing such
Securities, as evidenced by their execution of such Securities.

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SECTION 202. Form of Trustee’s Certificate of Authentication.

          The Trustee’s certificate of authentication required by this article shall be in substantially
the form set forth below.

          “This is one of the Securities of the series designated therein referred to in the
within-mentioned Indenture.

	 	 	 	 	 
	 	U.S. Bank National Association,

     as Trustee

 	 
	 	By:  	
 	”
	 	 	Authorized Signatory 	 
	 	 	 	 
	 

SECTION 203.  Securities Issuable in the Form of a Global Security.

          (a) If the Issuer shall establish pursuant to Sections 201 and 301 that the Securities of a
particular series are to be issued in whole or in part in the form of one or more Global
Securities, then the Issuer shall execute and the Trustee shall, in accordance with Section 303 and
the Company Order delivered to the Trustee thereunder, authenticate and deliver, such Global
Security or Securities, which (i) shall represent, and shall be denominated in an amount equal to
the aggregate principal amount of, the Outstanding Securities of such series to be represented by
such Global Security or Securities, (ii) shall be registered in the name of the Depositary for such
Global Security or Securities or its nominee, (iii) shall be delivered by the Trustee to the
Depositary or its custodian or pursuant to the Depositary’s instruction and (iv) shall bear a
legend substantially to the following effect: “UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN
PART FOR THE INDIVIDUAL SECURITIES REPRESENTED HEREBY, THIS GLOBAL SECURITY MAY NOT BE TRANSFERRED
EXCEPT AS A WHOLE (I) BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR (II) BY A NOMINEE OF THE
DEPOSITARY OR THE DEPOSITARY 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 WATER STREET, NEW YORK, NEW YORK) TO THE ISSUER 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 REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND
ANY PAYMENT IS MADE TO CEDE & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.”

          (b) Notwithstanding any other provision of this section or of Section 305, unless the terms of
a Global Security expressly permit such Global Security to be exchanged in whole or in part for
individual Securities, a Global Security may be transferred, in whole but not in part and in the
manner provided in Section 305, only to another nominee of the Depositary for

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such Global Security,
or to a successor Depositary for such Global Security selected or approved by the Issuer or to a
nominee of such successor Depositary.

          (c) (i) If at any time the Depositary for a Global Security notifies the Issuer that it is
unwilling or unable to continue as Depositary for such Global Security or if at any time the
Depositary for the Securities for such series shall no longer be eligible or in good standing under
the Securities Exchange Act of 1934, as amended, or other applicable statute or regulation, the
Issuer shall appoint a successor Depositary with respect to such Global Security. If a successor
Depositary for such Global Security is not appointed by the Issuer within 90 days after the Issuer
receives such notice or becomes aware of such ineligibility, the Issuer will execute a Company
Order for the authentication and delivery of individual Securities of such series in exchange for
such Global Security, and the Trustee, upon receipt of such Company Order, will authenticate and
deliver individual Securities of such series of like tenor and terms in definitive form in an
aggregate principal amount equal to the principal amount of the Global Security in exchange for
such Global Security.

          (ii) If an Event of Default shall have occurred and be continuing or an event shall have
occurred which with the giving of notice or lapse of time or both, would constitute an Event of
Default with respect to the Securities represented by such Global Security, the Trustee, upon
receipt of a Company Order for the authentication and delivery of individual Securities of such
series in exchange for such Global Security, will authenticate and deliver individual Securities of
such series of like tenor and terms in definitive form in an aggregate principal amount equal to
the principal amount of the Global Security in exchange for such Global Security.

          (iii) The Issuer may at any time and in its sole discretion determine that the Securities of
any series issued or issuable in the form of one or more Global Securities shall no longer be
represented by such Global Security or Securities. In such event the Issuer will execute, and the
Trustee, upon receipt of a Company Order for the authentication and delivery of individual
Securities of such series in exchange in whole or in part for such Global Security, will
authenticate and deliver individual Securities of such series of like tenor and terms in definitive
form in an aggregate principal amount equal to the principal amount of such Global Security or
Securities representing such series to be so exchanged for such Global Security or Securities.

          (iv) If specified by the Issuer pursuant to Section 301 with respect to Securities issued or
issuable in the form of a Global Security, the Depositary for such Global Security may surrender
such Global Security in exchange in whole or in part for individual Securities of such series of
like tenor and terms in definitive form on such terms as are acceptable to the Issuer and such
Depositary. Thereupon the Issuer shall execute, and the Trustee shall authenticate and deliver,
without service charge, (1) to each Person specified by such Depositary a new Security or
Securities of the same series of like tenor and terms and of any authorized denomination of $1,000
and any integral multiple thereof as requested by such Person in aggregate principal amount equal
to and in exchange for such Person’s beneficial interest in the Global Security; and (2) to such
Depositary a new Global Security of like tenor and terms and in a denomination equal to the
difference, if any, between the principal amount of the surrendered Global Security and the
aggregate principal amount of Securities delivered to Holders thereof.

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          (v) In any exchange provided for in any of the preceding four paragraphs, the Issuer will
execute and the Trustee, upon receipt of a Company Order for the authentication and delivery of
individual Securities of such series in exchange in whole or in part for such Global Security, will
authenticate and deliver individual Securities in definitive registered form in authorized denominations of $1,000 and
any integral multiple thereof. Upon the exchange of a
Global Security for individual Securities, such Global Security shall be cancelled by the Trustee.
Securities issued in exchange for a Global Security pursuant to this section shall be registered in
such names and in such authorized denominations as the Depositary for such Global Security,
pursuant to instructions from its direct or indirect participants or otherwise, shall instruct the
Trustee. The Trustee shall deliver such Securities to the persons in whose names such Securities
are so registered.

ARTICLE THREE

THE SECURITIES

SECTION 301. Amount Unlimited; Issuable in Series.

          The aggregate principal amount of Securities which may be authenticated and delivered under
this Indenture is unlimited.

          The Securities may be issued in one or more series. There shall be established in or pursuant
to a Board Resolution and set forth in an Officers’ Certificate, or established in one or more
indentures supplemental hereto, prior to the issuance of Securities of any series,

     (1) any limit upon the aggregate principal amount of the Securities of the series which
may be authenticated and delivered under this Indenture (except for Securities authenticated
and delivered upon registration of transfer of, or in exchange for, or in lieu of, other
Securities of the series pursuant to Sections 203, 304, 305, 306, 806 or 1007);

     (2) the issue price, expressed as a percentage of the aggregate principal amount;

     (3) the date or dates on which the principal of the Securities of the series is
payable;

     (4) the rate or rates at which the Securities of the series shall bear interest, if
any, the date or dates from which such interest shall accrue, the Interest Payment Dates on
which such interest shall be payable and the Regular Record Date for the interest payable on
the Interest Payment Date;

     (5) the obligation, if any, of the Company to redeem or purchase Securities of the
series pursuant to any sinking fund or analogous provisions or at the option of a Holder
thereof and the period or periods within which, the price or prices at which and the terms
and conditions upon which Securities of the series shall be redeemed or purchased, in whole
or in part, pursuant to such obligation;

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     (6) the period or periods within which, the price or prices or ratios at which and the
terms and conditions upon which Securities of the series may be redeemed, converted or
exchanged, in whole or in part;

     (7) if other than denominations of $1,000 and any integral multiple thereof, the
denominations in which Securities of the series shall be issuable;

     (8) if other than the full principal amount, the portion of the principal amount of
Securities of the series which will be payable upon declaration of acceleration or provable
in bankruptcy;

     (9) any events of default not set forth in this Indenture;

     (10) the currency or currencies, including composite currencies, in which payment of
the principal of (and premium, if any) and interest, if any, on such Securities shall be
payable (if other than the currency of the United States of America), which unless otherwise
specified shall be the currency of the United States of America as at the time of payment is
legal tender for payment of public or private debts;

     (11) if the principal of (and premium, if any), or interest, if any, on such Securities
are to be payable, at the election of the Company or any Holder thereof, in a coin or
currency other than that in which such Securities are stated to be payable, then the period
or periods within which, and the terms and conditions upon which, such election may be made;

     (12) whether interest will be payable in cash or additional Securities at the Company’s
or the Holders’ option and the terms and conditions upon which the election may be made;

     (13) if such Securities are to be denominated in a currency or currencies, including
composite currencies, other than the currency of the United States of America, the
equivalent price in the currency of the United States of America for purposes of determining
the voting rights of Holders of such Securities as Outstanding Securities under this
Indenture;

     (14) if the amount of payments of principal of (and premium, if any), or portions
thereof, or interest, if any, on such Securities may be determined with reference to an
index, formula or other method based on a coin or currency other than that in which such
Securities are stated to be payable, the manner in which such amounts shall be determined;

     (15) any restrictive covenants or other material terms relating to the offered debt
securities, which covenants and terms shall not be inconsistent with the provisions of this
Indenture;

     (16) whether the Securities of the series shall be issued in whole or in part in the
form of a Global Security or Securities; the terms and conditions, if any, upon which

-16-

 

such
Global Security or Securities may be exchanged in whole or in part for other individual
Securities; and the Depositary for such Global Security or Securities;

     (17) any listing of such Securities on any securities exchange;

     (18) additional or alternative provisions, if any, related to defeasance and discharge
of the offered Securities;

     (19) the applicability of any guarantees;

     (20) if convertible into Class A Common Stock or Preferred Stock, the terms on which
such Securities are convertible, including the initial conversion price, the conversion
period, any events requiring an adjustment of the applicable conversion price and any
requirements relating to the reservation of such Class A Common Stock or Preferred Stock for
purposes of conversion;

     (21) provisions, if any, granting special rights to the Holders of Securities of the
series upon the occurrence of such events as may be specified;

     (22) each initial Place of Payment; and

     (23) any other terms of the series, which terms shall not be inconsistent with the
provisions of this Indenture.

          All Securities of any one series shall be substantially identical except as to denomination
and except as may otherwise be provided in or pursuant to such Board Resolution and set forth in
such Officers’ Certificate or in any such indenture supplemental hereto.

          If any of the terms of the Securities of any series are established by action taken pursuant
to a Board Resolution, a copy of an appropriate record of such action shall be certified by the
secretary or an assistant secretary of the Company and delivered to the Trustee at or prior to the
delivery of the Officers’ Certificate setting forth the terms of the Securities of any series.

SECTION 302. Denominations.

          The Securities of each series shall be issuable in registered form without coupons in such
denominations as shall be specified as contemplated by Section 301. In the absence of any such
provisions with respect to the Securities of any series, the Securities of such series shall be
issuable in denominations of $1,000 and any integral multiple thereof.

SECTION 303. Execution, Authentication, Delivery and Dating.

          The Securities shall be executed on behalf of the Company by its chairman of the Board of
Directors, a vice chairman, its president or one of its vice presidents, under its corporate seal
reproduced thereon attested by its secretary or one of its assistant secretaries. The signature of
any of these officers on the Securities may be manual or facsimile.

-17-

 

          Securities bearing the manual or facsimile signatures of individuals who were at any time the
proper officers of the Company shall bind the Company, notwithstanding that such individuals or any
of them have ceased to hold such offices prior to the authentication and delivery of such
Securities or did not hold such offices at the date of such Securities.

          At any time and from time to time after the execution and delivery of this Indenture, the
Company may deliver Securities of any series executed by the Company to the Trustee for
authentication, together with a Company Order for the authentication and delivery of such
Securities, and the Trustee in accordance with the Company Order shall authenticate and deliver
such Securities. If the form or terms of the Securities of the series have been established in or
pursuant to one or more Board Resolutions as permitted by Sections 201 and 301, or by one or more
indentures supplemental hereto as provided by Section 801, in authenticating such Securities, and
accepting the additional responsibilities under this Indenture in relation to such Securities, the
Trustee shall receive, and (subject to Section 601) shall be fully protected in conclusively
relying upon, an Opinion of Counsel stating,

     (a) that such form has been established in conformity with the provisions of this
Indenture;

     (b) that such terms have been established in conformity with the provisions of this
Indenture;

     (c) that this Indenture and such Securities, when authenticated and delivered by the
Trustee and issued by the Company in the manner and subject to any conditions specified in
such Opinion of Counsel, will constitute valid and legally binding obligations of the
Company, enforceable in accordance with their terms, subject to bankruptcy, insolvency,
fraudulent conveyance, reorganization and other laws of general applicability relating to or
affecting the enforcement of creditors’ rights and to general equity principles;

     (d) that all laws and requirements in respect of the execution and delivery by the
Company of the Securities have been complied with; and

     (e) such other matters as the Trustee may reasonably request.

If such form or terms have been so established, the Trustee shall not be required to authenticate
such Securities if the issue of such Securities pursuant to this Indenture will affect the
Trustee’s own rights, duties or immunities under the Securities and this Indenture or otherwise in
a manner which is not reasonably acceptable to the Trustee.

          Each Security shall be dated the date of its authentication unless otherwise provided by the
terms established and contemplated by Section 301.

          No Security shall be entitled to any benefit under this Indenture or be valid or obligatory
for any purpose unless there appears on such Security a certificate of authentication substantially
in the form provided for herein executed by the Trustee by manual signature, and such certificate
upon any Security shall be conclusive evidence, and the only evidence, that such

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Security has been
duly authenticated and delivered hereunder and is entitled to the benefits of this Indenture.

SECTION 304. Temporary Securities.

          Pending the preparation of definitive Securities of any series, the Company may execute, and
upon Company Order the Trustee shall authenticate and deliver, temporary Securities which are
printed, lithographed, typewritten, mimeographed or otherwise produced, in any authorized
denomination, substantially of the tenor of the definitive Securities in lieu of which they are
issued and with such appropriate insertions, omissions, substitutions and other variations as the
officers executing such Securities may determine, as evidenced by their execution of such
Securities.

          If temporary Securities of any series are issued, the Company will cause definitive Securities
of that series to be prepared without unreasonable delay. After the preparation of definitive
Securities of such series, the temporary Securities of such series shall be exchangeable for
definitive Securities of such series upon surrender of the temporary Securities of such series at
the office or agency of the Company in a Place of Payment for that series, without charge to the
Holder. Upon surrender for cancellation of any one or more temporary Securities of any series the
Company shall execute and the Trustee shall authenticate and deliver in exchange therefor a like
principal amount of definitive Securities of the same series of authorized denominations. Until so
exchanged the temporary Securities of any series shall in all respects be entitled to the same
benefits under this Indenture as definitive Securities of such series.

SECTION 305. Registration, Registration of Transfer and Exchange.

          The Company shall cause to be kept at one of its offices or agencies maintained pursuant to
Section 902 or at the Corporate Trust Office of the Trustee a register (the register maintained in
such office and in any other office or agency of the Company in a Place of Payment being herein
sometimes collectively referred to as the “Security Register”) in which, subject to Section 203 and
to such reasonable regulations as it may prescribe, the Company shall provide for the registration
of Securities and of transfers of Securities. The Trustee initially is hereby appointed “Security
Registrar” for the purpose of registering Securities and transfers of Securities as herein
provided. The Company may act as Security Registrar and may change or appoint a Security Registrar
without prior notice to Holders.

          Subject to Section 203, upon surrender for registration of transfer of any Security of any
series at the office or agency in a Place of Payment for that series, the Company shall execute,
and the Trustee shall authenticate and deliver, in the name of the designated transferee or
transferees, one or more new Securities of the same series, of any authorized denominations and of
a like aggregate principal amount and tenor.

          Subject to Section 203, at the option of the Holder, Securities of any series may be exchanged
for other Securities of the same series, of any authorized denominations and of a like aggregate
principal amount and tenor, upon surrender of the Securities to be exchanged at such office or
agency. Whenever any Securities are so surrendered for exchange, the Company

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shall execute, and
the Trustee shall authenticate and deliver, the Securities which the Holder making the exchange is
entitled to receive.

          Subject to Section 203, all Securities issued upon any registration or transfer or exchange of
Securities shall be valid obligations of the Company, evidencing the same debt, and entitled to the
same benefits under this Indenture, as the Securities surrendered upon such registration of
transfer or exchange.

          Every Security presented or surrendered for registration of transfer or for exchange shall (if
so required by the Company or the Trustee) be duly endorsed, or be accompanied by a written
instrument of transfer in form satisfactory to the Company and the Security Registrar duly
executed, by the Holder thereof or his attorney duly authorized in writing.

          No service charge shall be made for any registration of transfer or exchange of Securities,
but the Company may require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any registration of transfer or exchange of
Securities, other than exchanges pursuant to Section 203, 304, 806 or 1007 not involving any
transfer.

          The Company shall not be required (i) to issue, register the transfer of or exchange
Securities of any series during a period beginning at the opening of business 15 days before the
day of the mailing of a notice of redemption of Securities of that series selected for redemption
(under Section 1003) and ending at the close of business on the day of such mailing, or (ii) to
register the transfer of or exchange any Security so selected for redemption in whole or in part,
except the unredeemed portion of any Security being redeemed in part.

SECTION 306. Mutilated, Destroyed, Lost and Stolen Securities.

          If there shall be delivered to the Company and the Trustee (i)(A) any mutilated Security or
(B) evidence to their satisfaction of the destruction, loss or theft of any Security and (ii) such
security or indemnity as may be required by them to hold each of them and any agent of either of
them harmless, then, in the absence of notice to the Company or the Trustee that such Security has
been acquired by a bona fide purchaser, the Company shall execute and upon its request the Trustee
shall authenticate and deliver, in lieu of any such destroyed, lost or stolen Security or in
exchange for such mutilated Security, a new Security of the same series and of like tenor and
principal amount and bearing a number not contemporaneously outstanding.

          In case any such mutilated, destroyed, lost or stolen Security has become or is about to
become due and payable, the Company in its discretion may, instead of issuing a new Security, pay
such Security.

          Upon the issuance of any new Security under this section, the Company may require the payment
of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation
thereto and any other expenses (including the fees and expenses of the Trustee) connected
therewith.

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          Every new Security of any series issued pursuant to this section in lieu of any
destroyed, lost or stolen Security or in exchange for such mutilated Security, shall constitute an
original additional contractual obligation of the Company, whether or not the mutilated, destroyed,
lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled to all
the benefits of this Indenture equally and proportionately with any and all other Securities of
that series duly issued hereunder.

          The provisions of this section are exclusive and shall preclude (to the extent lawful) all
other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost
or stolen Securities.

SECTION 307. Payment of Interest; Interest Rights Preserved.

          Interest on any Security which is payable, and is punctually paid or duly provided for, on any
Interest Payment Date shall be paid to the Person in whose name that Security (or one or more
Predecessor Securities) is registered at the close of business on the Regular Record Date for such
interest.

          Any interest on any Security of any series which is payable, but is not punctually paid or
duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall
forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of having
been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each
case, as provided in clause (1) or (2) below:

     (1) The Company may elect to make payment of any Defaulted Interest to the Persons in
whose names the Securities of such series (or their respective Predecessor Securities) are
registered at the close of business on a Special Record Date for the payment of such
Defaulted Interest, which shall be fixed in the following manner. The Company shall notify
the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each
Security of such series and the date of the proposed payment, and at the same time the
Company shall deposit with the Trustee an amount of money equal to the aggregate amount
proposed to be paid in respect of such Defaulted Interest or shall make arrangements
satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such
money when deposited to be held in trust for the benefit of the Persons entitled to such
Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special
Record Date for the payment of such Defaulted Interest which shall be not more than 15 days
and not less than 10 days prior to the date of the proposed payment and not less than 10
days after the receipt by the Trustee of the notice of the proposed payment. The Trustee
shall promptly notify the Company of such Special Record Date and, in the name and at the
expense of the Company, shall cause notice of the proposed payment of such Defaulted
Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to
each Holder of Securities of such series at his address as it appears in the Security
Register, not less than 10 days prior to such Special Record Date. Notice of the proposed
payment of such Defaulted Interest and the Special Record Date therefor having been so
mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities
of such series (or their respective Predecessor Securities) are

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registered at the close of business on such Special Record Date and shall no longer be
payable pursuant to the following clause (2).

     (2) The Company may make payment of any Defaulted Interest on the Securities of any
series in any other lawful manner not inconsistent with the requirements of any securities
exchange on which such Securities may be listed, and upon such notice as may be required by
such exchange, if, after notice given by the Company to the Trustee of the proposed payment
pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.

          Subject to the foregoing provisions of this section, each Security lawfully delivered under
this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security
shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such
other Security.

SECTION 308. Persons Deemed Owners.

          Subject to Section 203, the Company, the Trustee and any agent of the Company or the Trustee
may treat the Person in whose name such Security is registered as the owner of such Security for
the purpose of receiving payment of principal of (and premium, if any) and (subject to Section 307)
interest on such Security and for all other purposes whatsoever, whether or not such Security be
overdue, and none of the Company, the Trustee or any agent of the Company or the Trustee shall be
affected by notice to the contrary.

SECTION 309. Cancellation.

          All Securities surrendered for payment, redemption, registration of transfer or exchange or
for credit against any sinking fund payment shall, if surrendered to any Person other than the
Trustee, be delivered to the Trustee and shall be promptly cancelled by it. The Company may at any
time deliver to the Trustee for cancellation any Securities previously authenticated and delivered
hereunder which the Company may have acquired in any manner whatsoever, and all Securities so
delivered shall be promptly cancelled by the Trustee. No Securities shall be authenticated in lieu
of or in exchange for any Securities cancelled as provided in this section, except as expressly
permitted by this Indenture. The Trustee shall dispose of cancelled Securities in accordance with
its customary procedures.

SECTION 310. Computation of Interest.

          Except as otherwise specified as contemplated by Section 301 for the Securities of any series,
interest on the Securities of each series shall be computed on the basis of a year of 12 30-day
months.

SECTION 311. CUSIP Numbers.

          The Company in issuing the Securities may use “CUSIP” numbers (if then generally in use), and,
if so, the Trustee shall use “CUSIP” numbers in notices of redemption as a convenience to Holders;
provided that any such notice may state that no representation is made as to

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the correctness of such numbers either as printed on the Securities or as contained in any notice
of a redemption and that reliance may be placed only on the other identification numbers
printed on the Securities, and any such redemption shall not be affected by any defect in or
omission of such numbers. The Company will promptly notify the Trustee in writing of any change in
the “CUSIP” numbers.

ARTICLE FOUR

SATISFACTION AND DISCHARGE

SECTION 401. Satisfaction and Discharge of Indenture.

          This Indenture shall upon Company Request cease to be of further effect with respect to any
series of Securities (except as to (i) any surviving rights of registration of transfer or exchange
of Securities herein expressly provided for, (ii) rights hereunder of Holders to receive payments
of principal of, and premium, if any, and interest on, Securities, and other rights, duties and
obligations of the Holders as beneficiaries hereof with respect to the amounts, if any, so
deposited with the Trustee, (iii) remaining obligations of the Company to make mandatory sinking
fund payments and (iv) the rights, obligations and immunities of the Trustee hereunder), and the
Trustee, at the expense of the Company, shall execute proper instruments acknowledging satisfaction
and discharge of this Indenture with respect to any series of Securities, when

          (1) either

     (A) all Securities of such series theretofore authenticated and delivered
(other than (i) Securities of such series which have been mutilated, destroyed, lost
or stolen and which have been replaced or paid as provided in Section 306 and (ii)
Securities of such series for whose payment money has theretofore been deposited in
trust or segregated and held in trust by the Company and thereafter repaid to the
Company or discharged from such trust, as provided in Section 903) have been
delivered to the Trustee for cancellation; or

     (B) all such Securities not theretofore delivered to the Trustee for
cancellation

     (i) have become due and payable, or

     (ii) will become due and payable at their Stated Maturity within one
year, or

     (iii) are to be called for redemption within one year under
arrangements satisfactory to the Trustee for the giving of notice of
redemption by the Trustee in the name, and at the expense, of the Company,

and the Company, in the case of (i), (ii) or (iii) above, has deposited or caused to
be deposited with the Trustee as trust funds in trust for the purpose an amount in
cash sufficient to pay and discharge the entire indebtedness on such Securities not

-23-

 

theretofore delivered to the Trustee for cancellation, for principal (and premium,
if any) and interest to the date of such deposit (in the case of Securities which
have become due and payable) or to the Stated Maturity or Redemption Date, as the
case may be;

     (2) if all series of Securities are being discharged, the Company has paid or caused to
be paid all other sums payable hereunder by the Company; and

     (3) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that all conditions precedent herein provided for relating to the
satisfaction and discharge of this Indenture have been complied with.

          Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the
Company to the Trustee under Section 607, and, if money shall have been deposited with the Trustee
pursuant to Subclause (B) of clause (1) of this section, the obligations of the Trustee under
Section 402 and the next to last paragraph of Section 903, shall survive.

SECTION 402. Application of Trust Funds; Indemnification.

          (a) Subject to the provisions of the next to last paragraph of Section 903, all money
deposited with the Trustee pursuant to Section 401, all money and U.S. Government Obligations
deposited with the Trustee pursuant to Section 403 or 404 and all money received by the Trustee in
respect of U.S. Government Obligations deposited with the Trustee pursuant to Section 403 or 404
shall be held in trust and applied by it, in accordance with the provisions of the Securities 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, if any) and interest for whose payment such money has been deposited
with or received by the Trustee or to make mandatory sinking fund payments or analogous payments as
contemplated by Section 403 or 404, but such money need not be segregated from other funds except
to the extent required by law.

          (b) The Company shall pay and shall indemnify the Trustee against any tax, fee or other charge
imposed on or assessed against U.S. Government Obligations deposited pursuant to Section 403 or
404, or the interest and principal received in respect of such obligations other than any payable
by or on behalf of Holders.

          (c) The Trustee shall deliver or pay to the Company from time to time upon Company Request any
U.S. Government Obligations or money held by it as provided in Section 403 or 404 which, in the
opinion of a nationally recognized firm of independent public accountants expressed in a written
certification thereof delivered to the Trustee, are then in excess of the amount thereof which then
would have been required to be deposited for the purpose for which such obligations or money were
deposited or received.

SECTION 403. Defeasance and Discharge of Indenture.

          The Company shall be deemed to have paid and discharged the entire indebtedness on all the
Outstanding Securities on the 91st day after the date of the deposit referred to in

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subparagraph (d) of this section, and the provisions of this Indenture, as it relates to such Outstanding
Securities, shall no longer be in effect (and the Trustee, at the expense of the Company, shall at
Company Request, execute proper instruments acknowledging the same), except as to:

     (a) the rights of Holders of Securities to receive, from the trust funds described in
subparagraph (d) hereof, (i) payment of the principal of (and premium, if any) and each
installment of principal of (and premium, if any) or interest on the Outstanding Securities
on the Stated Maturity of such principal or installment of principal or interest and (ii)
the benefit of any mandatory sinking fund payments applicable to the Securities on the day
on which such payments are due and payable in accordance with the terms of this Indenture
and the Securities;

     (b) the Company’s obligations with respect to such Securities under Sections 305, 306,
902 and 903; and

     (c) the obligations of the Company to the Trustee under Section 607,

provided that, the following conditions shall have been satisfied:

     (d) the Company has or caused to be irrevocably deposited (except as provided in
Section 402) with the Trustee as trust funds in trust, specifically pledged as security for,
and dedicated solely to, the benefit of the Holders of the Securities, (i) money in an
amount, or (ii) U.S. Government Obligations which through the payment of interest and
principal in respect thereof in accordance with their terms will provide not later than one
day before the due date of any payment referred to in clause (A) or (B) of this subparagraph
money in an amount, or (iii) a combination thereof, sufficient, in the opinion of a
nationally recognized firm of independent public accountants expressed in a written
certification thereof delivered to the Trustee, to pay and discharge (A) the principal of
(and premium, if any) and each installment of principal of (and premium, if any) and
interest on the Outstanding Securities on the Stated Maturity of such principal or
installment of principal or interest or on the applicable Redemption Date and (B) any
mandatory sinking fund payments applicable to the Securities on the day on which such
payments are due and payable in accordance with the terms of this Indenture and of the
Securities;

     (e) such deposit shall not cause the Trustee with respect to the Securities to have a
conflicting interest for purposes of the Trust Indenture Act with respect to the Securities;

     (f) such deposit will not result in a breach or violation of, or constitute a default
under, any applicable laws, this Indenture or any other agreement or instrument to which the
Company is a party or by which it is bound;

     (g) no Event of Default or event which with notice or lapse of time would become an
Event of Default with respect to the Securities shall have occurred and be continuing on the
date of such deposit or during the period ending on the 91st day after such date;

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     (h) if the deposit referred to in subparagraph (d) of this section is to be made, the
Company has delivered to the Trustee an Opinion of Counsel with no material qualifications
that, based upon a published letter ruling of the Internal Revenue Service or a change in
United States federal income tax law occurring after the date hereof, Holders of
the Securities will not recognize income, gain or loss for United States federal income
tax purposes as a result of such deposit, defeasance and discharge and will be subject to
United States federal income tax on the same amount and in the same manner and at the same
times, as would have been the case if such deposit, defeasance and discharge had not
occurred.

SECTION 404. Defeasance of Certain Obligations.

          If this section is specified to be applicable to Securities of any series, the Company may
omit to comply with any term, provision or condition set forth in the sections of this Indenture or
such Security with respect to the Securities of that series (“Covenant Defeasance”) if:

     (1) with reference to this section, the Company has deposited or caused to be
irrevocably deposited with the Trustee as trust funds in trust, specifically pledged as
security for, and dedicated solely to, the benefit of the Holders of the Securities of that
series, (i) money in an amount, or (ii) U.S. Government Obligations which through the
payment of interest and principal in respect thereof in accordance with their terms will
provide not later than one day before the due date of any payment referred to in clause (A)
or (B) of this subparagraph money in an amount, or (iii) a combination thereof, sufficient,
in the opinion of a nationally recognized firm of independent public accountants expressed
in a written certification thereof delivered to the Trustee, to pay and discharge (A) the
principal of (and premium, if any) and each installment of principal (and premium, if any)
and interest on the Outstanding Securities of that series on the Stated Maturity of such
principal or installment of principal or interest and (B) any mandatory sinking fund
payments or analogous payments applicable to Securities of such series on the day on which
such payments are due and payable in accordance with the terms of the Indenture and of such
Securities;

     (2) such deposit shall not cause the Trustee with respect to the Securities of that
series to have a conflicting interest for purposes of the Trust Indenture Act with respect
to the Securities of any series;

     (3) such deposit will not result in a breach or violation of, or constitute a default
under, this Indenture or any other agreement or instrument to which the Company is a party
or by which it is bound;

     (4) if the deposit referred to in subparagraph (1) of this section is to be made, the
Company has delivered to the Trustee an Opinion of Counsel with no material qualifications,
to the effect that Holders of the Securities will not recognize income, gain or loss for
federal income tax purposes as a result of such deposit and defeasance of certain
obligations and will be subject to federal income tax on the same amount and in the same

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manner and at the same times, as would have been the case if such deposit and defeasance had
not occurred; and

     (5) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that all conditions precedent herein provided for relating to the
defeasance contemplated by this section have been complied with.

          In the event the Company effects Covenant Defeasance with respect to any Securities and such
Securities are declared due and payable because of the occurrence of any Event of Default, other
than an Event of Default with respect to any covenant as to which there has been Covenant
Defeasance, the U.S. Government Obligations on deposit with the Trustee will be sufficient to pay
amounts due on such Securities at the time of the Stated Maturity but may not be sufficient to pay
amounts due on such Securities at the time of the acceleration resulting from such Event of
Default.

ARTICLE FIVE

REMEDIES

SECTION 501. Events of Default.

          “Event of Default” (except as otherwise specified or contemplated by Section 301 for
Securities of any series) wherever used herein with respect to Securities of any series, means any
one of the following events:

     (1) default in the payment of any interest upon any Security of that series when it
becomes due and payable, and continuance of such default for a period of 60 days; or

     (2) default in the payment of the principal of (or premium, if any, on) any Security of
that series at its Maturity; or

     (3) default in the deposit of any sinking fund payment, when and as due by the terms of
a Security of that series; or

     (4) default in the performance, or breach, of any material covenant or warranty of the
Company in this Indenture (other than a covenant or warranty a default in whose performance
or whose breach is elsewhere in this section specifically dealt with or which has expressly
been included in this Indenture solely for the benefit of series of Securities other than
that series) for a period of 60 days after there has been given, and continuance of such by
registered or certified mail, to the Company by the Trustee or to the Company and the
Trustee by the Holders of at least 25% in principal amount of the Outstanding Securities a
written notice specifying such default or breach and requiring it to be remedied and stating
that such notice is a “Notice of Default” hereunder; or

     (5) the entry by a court having jurisdiction in the premises of (A) a decree or order
for relief in respect of the Company in an involuntary case or proceeding under any

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applicable bankruptcy, insolvency, reorganization or other similar law or (B) a decree or
order adjudging the Company bankrupt or insolvent, or approving as properly filed a petition
seeking reorganization, arrangement, adjustment or composition of or in respect of the
Company under any applicable law, or appointing a custodian, receiver, liquidator,
assignee, trustee, sequestrator or other similar official of the Company or of any
substantial part of its property, or ordering the winding up or liquidation of its affairs,
and the continuance of any such decree or order for relief or any such other decree or order
unstayed and in effect for a period of 60 consecutive days; or

     (6) the commencement by the Company of a voluntary case or proceeding under any
applicable bankruptcy, insolvency, reorganization or other similar law or of any other case
or proceeding to be adjudicated a bankrupt or insolvent, or the consent by it to the entry
of a decree or order for relief in respect of the Company in an involuntary case or
proceeding under any applicable bankruptcy, insolvency, reorganization or other similar law
or to the commencement of any bankruptcy or insolvency case or proceeding against it, or the
filing by it of a petition or answer or consent seeking reorganization or relief under any
applicable law, or the consent by it to the filing of such petition or to the appointment of
or taking possession by a custodian, receiver, liquidator, assignee, trustee, sequestrator
or similar official of the Company or of any substantial part of its property, or the making
by it of an assignment for the benefit of creditors, or the admission by it in writing of
its inability to pay its debts generally as they become due and its willingness to have a
case commenced against it or to seek an order for relief under any applicable bankruptcy,
insolvency or other similar law or the taking of corporate action by the Company in
furtherance of any such action; or

     (7) any other Event of Default expressly provided with respect to Securities of that
series.

SECTION 502. Acceleration of Maturity: Rescission and Annulment.

          If an Event of Default (other than an Event of Default resulting from bankruptcy, insolvency
or reorganization) with respect to Securities of any series at the time Outstanding occurs and is
continuing, then in every such case the Trustee or the Holders of not less than 25% in principal
amount of the Outstanding Securities of that series may declare the principal amount (or, if the
Securities of that series are Original Issue Discount Securities, such portion of the principal
amount as may be specified in the terms of that series) of all of the Securities of that series to
be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given
by Holders), and upon any such declaration such principal amount (or specified amount) shall become
immediately due and payable.

          In the case of an Event of Default resulting from bankruptcy, insolvency or reorganization,
which occurs and is continuing with respect to Securities of any series at the time Outstanding,
then all unpaid principal of and accrued but unpaid interest on all such Outstanding Securities of
that series shall become immediately due and payable without any declaration or other act on the
part of the Trustee or any of the Holders of any Securities of such series.

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          At any time after such a declaration of acceleration with respect to Securities of any series
has been made and before a judgment or decree for payment of the money due has been obtained by the
Trustee as hereinafter in this article provided, the Holders of a majority in principal amount of
the Outstanding Securities of that series, by written notice to the Company and the Trustee, may
rescind and annul such declaration and its consequences if

     (1) the Company has paid or deposited with the Trustee a sum sufficient to pay

     (A) all overdue interest payments on all Securities of that series,

     (B) the principal of (and premium, if any, on) any Securities of that series
which have become due otherwise than by such declaration of acceleration and
interest thereon at the rate or rates prescribed therefor in such Securities,

     (C) to the extent that payment of such interest is lawful, interest upon
overdue installments of interest at the rate or rates prescribed therefor in such
Securities, and

     (D) all sums paid or advanced by the Trustee and any predecessor Trustee
hereunder and all sums due the Trustee and any predecessor Trustee under Section
607;

     and

     (2) all Events of Default with respect to Securities of that series, other than the
non-payment of the principal of Securities of that series which have become due solely by
such declaration of acceleration, have been cured or waived as provided in Section 513.

No such rescission shall affect any subsequent default or impair any right consequent thereon.

SECTION 503. Collection of Indebtedness and Suits for Enforcement by Trustee.

          The Company covenants that if

     (1) default is made in the payment of any interest on any Security when such interest
becomes due and payable and such default continues for a period of 30 days, or

     (2) default is made in the payment of the principal of (or premium, if any, on) any
Security at the Maturity thereof,

the Company will, upon demand of the Trustee, pay to it, for the benefit of the Holders of such
Securities, the whole amount then due and payable on such Securities for principal (and premium, if
any) and interest and, to the extent that payment of such interest shall be legally enforceable,
interest on any overdue principal (and premium, if any) and on any overdue interest, at the rate or
rates prescribed therefor in such Securities, and, in addition thereto, such further

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amount as shall be sufficient to cover the costs and expenses of collection, including all amounts due the
Trustee and any predecessor Trustee under Section 607.

          If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own
name and as trustee of an express trust, may institute a judicial proceeding for the collection of
the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may
enforce the same against the Company or any other obligor upon such Securities
and collect the moneys adjudged or decreed to be payable in the manner provided by law out of
the property of the Company or any other obligor upon such Securities, wherever situated.

          If any Event of Default with respect to Securities of any series occurs and is continuing, the
Trustee may in its discretion proceed to protect and enforce its rights and the rights of the
Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall
deem most effectual to protect and enforce any such rights, whether for the specific enforcement of
any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein,
or to enforce any other proper remedy.

SECTION 504. Trustee May File Proofs of Claim.

          In case of the pendency of any receivership, insolvency, liquidation, bankruptcy,
reorganization, arrangement, adjustment, composition or other judicial proceeding relative to the
Company or any other obligor upon the Securities or the property of the Company or of such other
obligor or their creditors, the Trustee (irrespective of whether the principal of the Securities
shall then be due and payable as therein expressed or by declaration or otherwise and irrespective
of whether the Trustee shall have made any demand on the Company for the payment of overdue
principal or interest) shall be entitled and empowered, by intervention in such proceeding or
otherwise,

     (i) to file and prove a claim for the whole amount of principal (and premium, if any)
and interest owing and unpaid in respect of the Securities and to file such 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 of the Holders allowed in such judicial
proceeding, and

     (ii) to collect and receive any moneys or other property payable or deliverable on any
such claims and to distribute the same;

and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official
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 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 607.

          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,

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adjustment or composition affecting the Securities or the rights of any Holder thereof or to authorize the
Trustee to vote in respect of the claim of any Holder in any such proceeding.

SECTION 505. Trustee May Enforce Claims Without Possession of Securities.

          All rights of action and claims under this Indenture or the Securities may be prosecuted and
enforced by the Trustee without the possession of any of the Securities or the production thereof
in any proceeding relating thereto, and any such proceeding instituted by the
Trustee shall be brought in its own name as trustee of an express trust, and any recovery of
judgment shall, after provision for the payment of the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of
the Holders of the Securities in respect of which such judgment has been recovered.

SECTION 506. Application of Money Collected.

          Any money collected by the Trustee pursuant to this article shall be applied in the following
order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on
account of principal (or premium, if any) or interest, upon presentation of the Securities and the
notation thereon of the payment if only partially paid and upon surrender thereof if fully paid:

     FIRST: To the payment of all amounts due the Trustee and each predecessor Trustee
under Section 607;

     SECOND: To the payment of the amounts then due and unpaid for principal of (and
premium, if any) and interest on the Securities in respect of which or for the benefit of
which such money has been collected ratably, without preference or priority of any kind,
according to the amounts due and payable on such Securities for principal (and premium, if
any) and interest, respectively; and

     THIRD: To the Company.

SECTION 507. Limitation on Suits.

          No Holder of any Security of any series shall have any right to institute any proceeding,
judicial or otherwise, with respect to this Indenture, or for the appointment of a receiver or
trustee, or for any other remedy hereunder, unless

     (1) such Holder has previously given written notice to the Trustee of a continuing
Event of Default with respect to the Securities of that series;

     (2) the Holders of not less than 25% in principal amount of the Outstanding Securities
of that series shall have made written request to the Trustee to institute proceedings in
respect of such Event of Default in its own name as Trustee hereunder;

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     (3) such Holder or Holders have offered to the Trustee indemnity satisfactory to it
against the costs, expenses and liabilities to be incurred in compliance with such request;

     (4) the Trustee for 60 days after its receipt of such notice, request and offer of
indemnity has failed to institute any such proceeding; and

     (5) no direction inconsistent with such written request has been given to the Trustee
during such 60-day period by the Holders of a majority in principal amount of the
Outstanding Securities of that series;

it being understood and intended that no one or more of such Holders shall have any right in any
manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb
or prejudice the rights of any other of such Holders, or to obtain or to seek to obtain priority or
preference over any other of such Holders or to enforce any right under this Indenture (it being
understood that the Trustee does not have an affirmative duty to ascertain whether or not such
actions or forbearances are unduly prejudicial to such Holders), except in the manner herein
provided and for the equal and ratable benefit of all such Holders.

SECTION 508. Unconditional Right of Holders to Receive Principal, Premium and
Interest.

          Notwithstanding any other provision in this Indenture, the Holder of any Security shall have
the right, which is absolute and unconditional, to receive payment of the principal of (and
premium, if any) and (subject to Section 307) interest on such Security on the Stated Maturity or
Maturities expressed in such Security (or, in the case of redemption, on the Redemption Date) and
to institute suit for the enforcement of any such payment, and such rights shall not be impaired
without the consent of such Holder.

SECTION 509. Restoration of Rights and Remedies.

          If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy
under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has
been determined adversely to the Trustee or to such Holder, then and in every such case, subject to
any determination in such proceeding, the Company, the Trustee and the Holders shall be restored
severally and respectively to their former positions hereunder and thereafter all rights and
remedies of the Trustee and the Holders shall continue as though no such proceeding had been
instituted.

SECTION 510. Rights and Remedies Cumulative.

          Except as otherwise provided with respect to the replacement or payment of mutilated,
destroyed, lost or stolen Securities in the last paragraph of Section 306, no right or remedy
herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of
any other right or remedy, and every right and remedy shall, to the extent permitted by law, be
cumulative and in addition to every other right and remedy given hereunder or now or hereafter
existing at law or in equity or otherwise. The assertion or employment of any right or remedy

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hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other
appropriate right or remedy.

SECTION 511. Delay or Omission Not Waiver.

          No delay or omission of the Trustee or of any Holder of any Securities to exercise any right
or remedy accruing upon any Event of Default shall impair any such right or remedy or constitute a
waiver of any such Event of Default or any acquiescence therein. Every right and remedy given by
this article or by law to the Trustee or to the Holders may be exercised from time to time, and as
often as may be deemed expedient, by the Trustee or by the Holders, as the case may be.

SECTION 512. Control by Holders.

          The Holders of a majority in principal amount of the Outstanding Securities of any series (or
if more than one series is affected thereby, of all series so affected, voting as a single class)
shall have the right to direct the time, method and place of conducting any proceeding for any
remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with
respect to the Securities of such series, provided that

     (1) such direction shall not be in conflict with any rule of law or with this
Indenture, expose the Trustee to personal liability or be unduly prejudicial to holders not
joining therein, and

     (2) the Trustee may take any other action deemed proper by the Trustee which is not
inconsistent with such direction.

          Nothing in this Indenture shall impair the right of the Trustee to take any other action
deemed proper by the Trustee which is not inconsistent with such direction.

SECTION 513. Waiver of Past Defaults.

          The Holders of not less than a majority in principal amount of the Outstanding Securities of
any series may on behalf of the Holders of all the Securities of such series waive any past default
hereunder with respect to such series and its consequences, except a default

     (1) in the payment of the principal of (or premium, if any) or interest on any Security
of such series, or

     (2) in respect of a covenant or provision hereof which under this article cannot be
modified or amended without the consent of the Holder of each Outstanding Security of such
series affected.

          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.

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SECTION 514. Undertaking for Costs.

          All parties to this Indenture agree, and each Holder of any Security by his acceptance thereof
shall be deemed to have agreed, that any court may in its discretion require, in any suit for the
enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any
action taken, suffered or omitted by it as Trustee, the filing by any party litigant in such suit
of an undertaking to pay the costs of such suit, and that such court may in its discretion assess
reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in
such suit, having due regard to the merits and good faith of the claims or defenses made by such
party litigant; but the provisions of this section shall not apply to any suit instituted by the
Company, to any suit instituted by the Trustee, to any suit instituted by any Holder, or group of
Holders, holding in the aggregate more than 10% in principal amount of the Outstanding Securities of any series, or to any suit instituted by any Holder for the enforcement
of the payment of the principal of (or premium, if any) or interest on any Securities on or after
the Stated Maturity or Maturities expressed in such Security (or, in the case of redemption, on or
after the Redemption Date). This Section 514 shall be in lieu of Section 315(e) of the Trust
Indenture Act and such Section 315(e) is hereby expressly excluded from this Indenture, as
permitted by the Trust Indenture Act.

SECTION 515. Waiver of Stay or Extension Laws.

          The Company covenants (to the extent that it may lawfully do so) that it will not at any time
insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any
stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the
covenants or the performance of this Indenture; and the Company (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 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 had been enacted.

ARTICLE SIX

THE TRUSTEE

SECTION 601. Certain Duties and Responsibilities.

          (a) Except during the continuance of an Event of Default with respect to the Securities of any
series,

     (1) the Trustee undertakes to perform such duties and only such duties as are
specifically set forth in this Indenture with respect to such series, 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; but in the case of any such certificates or opinions which by any provi-

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sion hereof are specifically required to be furnished to the Trustee, the Trustee shall be under
a duty to examine the same to determine whether or not they conform to the requirements of
this Indenture (but need not confirm or investigate the accuracy of mathematical
calculations or other facts stated therein).

          (b) In case an Event of Default has occurred with respect to Securities of any series and is
continuing, the Trustee shall exercise such of the rights and powers vested in it by this Indenture
with respect to such series of Securities, and use the same degree of care and skill in their
exercise, as a prudent person would exercise or use under the circumstances in the conduct of his
or her own affairs.

          (c) No provision of this Indenture shall be construed to relieve the Trustee from liability
for its own negligent action, its own negligent failure to act, or its own wilful misconduct,
except that

     (1) this subsection shall not be construed to limit the effect of Subsection (a) of
this section;

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

     (3) the Trustee shall not be liable with respect to any action taken or omitted to be
taken by it in good faith in accordance with the direction of the Holders of a majority in
principal amount of the Outstanding Securities of any series, determined as provided in
Section 512, relating to the time, method and place of conducting any proceeding for any
remedy available to the Trustee, or exercising any trust or power conferred upon the
Trustee, under this Indenture with respect to the Securities of such series; and

     (4) no provision of this Indenture shall require the Trustee to expend or risk its own
funds or otherwise incur any financial liability in the performance of any of its duties
hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable
grounds for believing that repayment of such funds or adequate indemnity against such risk
or liability is not reasonably assured to it.

          (d) Whether or not therein expressly so provided, every provision of this Indenture relating
to the conduct or affecting the liability of or affording protection to the Trustee shall be
subject to the provisions of this section.

SECTION 602. Notice of Defaults.

          Within 90 days after the occurrence of any default hereunder with respect to the Securities of
any series, the Trustee shall transmit by mail to all Holders of Securities of such series, as
their names and addresses appear in the Security Register, notice 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 Security of such series or in the payment of any sinking fund
installment with

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respect to Securities of such series, 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 or Responsible Officers of the Trustee in good faith determines that
the withholding of such notice is in the interest of the Holders of Securities of such series; and
provided, further, that in the case of any default of the character specified in
Section 501(4) with respect to Securities of such series, 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 Securities of such series.

SECTION 603. Certain Rights of Trustee.

          Subject to the provisions of Section 601:

     (a) the Trustee may conclusively rely and shall be protected in acting or refraining
from acting upon any Board Resolution, resolution, Officers’ Certificate, certificate,
statement, instrument, Opinion of Counsel, 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;

     (b) 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
may be sufficiently evidenced by a Board Resolution;

     (c) 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;

     (d) 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;

     (e) 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 Holder or Holders pursuant
to this Indenture unless such Holder or Holders offers the Trustee indemnity reasonably
satisfactory to it against the costs, expenses and liabilities which might result from such
exercise;

     (f) the Trustee shall not be required to be expend or risk its own funds or otherwise
incur personal financial liability in performing its duties under this Indenture if the
Trustee reasonably believes that it is not reasonably assured of repayment or indemnity
satisfactory to it;

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     (g) 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;

     (h) 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;

     (i) the Trustee shall not be required to give any bond or surety in respect of the
performance of its powers and duties hereunder;

     (j) the Trustee may request that the Company deliver a certificate setting forth the
names of individuals and/or titles of officers authorized at such time to take specified
actions pursuant to this Indenture;

     (k) 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;

     (l) in no event shall the Trustee be responsible or liable for special, indirect,
punitive or consequential loss or damage of any kind whatsoever (including, but not limited
to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood
of such loss or damage and regardless of the form of action;

     (m) the Trustee shall not be deemed to have notice of any default or Event of Default
unless a Responsible Officer of the Trustee has actual knowledge thereof or unless written
notice of any event which is in fact such a default is received by the Trustee at the
Corporate Trust Office of the Trustee, and such notice references the Securities and this
Indenture; and

     (n) the rights, privileges, protections, immunities and benefits given to the Trustee,
including, without limitation, its right to be indemnified, are extended to, and shall be
enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian
and other Person employed to act hereunder.

SECTION 604. Not Responsible for Recitals or Issuance
of Securities.

          The recitals contained herein and in the Securities, except the Trustee’s certificates of
authentication, shall be taken as the statements of the Company, and the Trustee assumes no
responsibility for their correctness. The Trustee makes no representations as to the validity or
sufficiency of this Indenture or of the Securities. The Trustee shall not be accountable for the
use or application by the Company of Securities or the proceeds thereof.

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SECTION 605. May Hold Securities.

          The Trustee, any Paying Agent, any Security Registrar or any other agent of the Company, in
its individual or any other capacity, may become the owner or pledgee of Securities and, subject to
Sections 608 and 612, may otherwise deal with, and collect obligations owed to it by, the Company
with the same rights it would have if it were not Trustee, Paying Agent, Security Registrar or such
other agent.

SECTION 606. Money Held in Trust.

          Money held by the Trustee in trust hereunder need not be segregated from other funds except to
the extent required by law. The Trustee shall be under no liability for interest on any money
received by it hereunder except as otherwise agreed in writing with the Company.

SECTION 607. Compensation and Reimbursement.

          The Company agrees

     (1) to pay to the Trustee from time to time such compensation as shall be agreed in
writing for all services rendered by it hereunder (which compensation shall not be limited
by any provision of law in regard to the compensation of a trustee of an express trust);

     (2) except as otherwise expressly provided herein, to reimburse each of the Trustee and
any predecessor Trustee upon its request for all reasonable expenses, disbursements and
advances incurred or made by it in accordance with any provision of this Indenture
(including the reasonable compensation and the expenses and disbursements of its agents and
counsel), except any such expense, disbursement or advance as may be attributable to its own
negligence or willful misconduct; and

     (3) to indemnify each of the Trustee and any predecessor Trustee, and its agents,
officers, directors, employees or representatives for, and to hold it harmless against, any
loss, liability or expense (including reasonable attorneys’ fees), arising out of or in
connection with the acceptance or administration of the trust or trusts hereunder and the
performance of its duties hereunder, including the costs and expenses of defending itself
against any claim or liability in connection with the exercise or performance of any of its
powers or duties hereunder, except to the extent any such loss, liability or expense is due
to its own negligence or willful misconduct.

          To ensure the performance of the obligations of the Company under this section, the Trustee
shall have a senior claim to which the Securities are hereby made subordinate upon all property and
funds held or collected by the Trustee as such, except property and funds held in trust for the
payment of principal of, premium, if any, or interest on particular Securities. When the Trustee
incurs expenses or renders services in connection with an Event of Default specified in Section
501(5) or Section 501(6), the expenses (including reasonable charges and expenses of its counsel)
and the compensation for the services are intended to constitute expenses of admini-

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stration under any applicable Federal or state bankruptcy, insolvency or other similar law. The provisions of this
Section 607 shall survive the termination of this Indenture.

SECTION 608. Disqualification; Conflicting
Interests.

          The Trustee shall comply with the terms of Section 310(b) of the Trust Indenture Act.

SECTION 609. Corporate Trustee Required;
Eligibility.

          There shall at all times be a Trustee hereunder which shall be a corporation organized and
doing business under the laws of the United States of America, any State thereof or the District of
Columbia, authorized under such laws to exercise corporate trust powers having (or, in the case of
the subsidiary of a bank holding company that guarantees the obligations of the Trustee under this
Indenture, such holding company’s parent shall have) a combined capital and surplus of at least
$50,000,000 subject to supervision or examination by Federal or State authority. If such corporation or holding company parent publishes reports of condition at least
annually, pursuant to law or the requirements of said supervising or examining authority, then for
the purposes of this section, the combined capital and surplus of such corporation or holding
company parent shall be deemed to be its combined capital and surplus as set forth in its most
recent report of condition so published. If at any time the Trustee shall cease to be eligible in
accordance with the provisions of this section, it shall resign immediately in the manner and with
the effect hereinafter specified in this article.

SECTION 610. Resignation and Removal; Appointment of
Successor.

          (a) No resignation or removal of the Trustee and no appointment of a successor Trustee
pursuant to this article shall become effective until the acceptance of appointment by the
successor Trustee in accordance with the applicable requirements of Section 611.

          (b) The Trustee may resign at any time with respect to the Securities of one or more series by
giving written notice thereof to the Company. If the instrument of acceptance by a successor
Trustee required by Section 611 shall not have been delivered to the Trustee within 30 days after
the giving of such notice of resignation, the resigning Trustee may petition, at the expense of the
Company, any court of competent jurisdiction for the appointment of a successor Trustee with
respect to the Securities of such series. If the acceptance of appointment is substantially
contemporaneous with the resignation, then the notice called for by the first sentence of this
subsection may be combined with the instrument called for by Section 611.

          (c) The Trustee may be removed at any time with respect to the Securities of any series by Act
of the Holders of a majority in principal amount of the Outstanding Securities of such series
delivered to the Trustee and to the Company. If the instrument of acceptance by a successor
Trustee required by Section 611 shall not have been delivered to the Trustee within 30 days after
the removal of the Trustee, the Trustee may petition, at the expense of the Company, any court of
competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of
such series.

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          (d) If at any time:

     (1) the Trustee shall fail to comply with Section 608 after written request therefor by
the Company or by any Holder who has been a bona fide Holder of a Security for at least six
months, or

     (2) the Trustee shall cease to be eligible under Section 609 and shall fail to resign
after written request therefor by the Company or by any such Holder, or

     (3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or
insolvent or a receiver of the Trustee or of its property shall be appointed or any public
officer shall take charge or control of the Trustee or of its property or affairs for the
purpose of rehabilitation, conservation or liquidation,

then, in any such case, (i) the Company by a Board Resolution may remove the Trustee with respect
to all Securities, or (ii) subject to Section 514, any Holder who has been a bona fide Holder of a
Security for at least six months may, on behalf of himself and all others similarly situated,
petition any court of competent jurisdiction for the removal of the Trustee with respect to all
Securities and the appointment of a successor Trustee or Trustees.

          (e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy
shall occur in the office of Trustee for any cause, with respect to the Securities of one or more
series, the Company, by a Board Resolution, shall promptly appoint a successor Trustee or Trustees
with respect to the Securities of that or those series (it being understood that any such successor
Trustee may be appointed with respect to the Securities of one or more or all of such series and
that at any time there shall be only one Trustee with respect to the Securities of any particular
series) and shall comply with the applicable requirements of Section 611. If, within one year
after such resignation, removal or incapability, or the occurrence of such vacancy, a successor
Trustee with respect to the Securities of any series shall be appointed by Act of the Holders of a
majority in principal amount of the Outstanding Securities of such series delivered to the Company
and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance
of such appointment in accordance with the applicable requirements of Section 611, become the
successor Trustee with respect to the Securities of such series and to that extent supersede the
successor appointed by the Company. If no successor Trustee with respect to the Securities of any
series shall have been so appointed by the Company or the Holders and accepted appointment in the
manner required by Section 611, any Holder who has been a bona fide Holder of a Security of such
series for at least six months may, on behalf of himself and all others similarly situated,
petition any court of competent jurisdiction for the appointment of a successor Trustee with
respect to the Securities of such series.

          (f) The Company shall give notice of each resignation and each removal of the Trustee with
respect to the Securities of any series and each appointment of a successor Trustee with respect to
the Securities of any series by mailing written notice of such event by first-class mail, postage
prepaid, to all Holders of Securities of such series as their names and addresses appear in the
Security Register. Each notice shall include the name of the successor Trustee with respect to the
Securities of such series and the address of its Corporate Trust Office.

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SECTION 611. Acceptance of Appointment by Successor.

          (a) In case of the appointment hereunder of a successor Trustee with respect to all
Securities, every such successor Trustee so appointed shall execute, acknowledge and deliver to the
Company and to the retiring Trustee an instrument accepting such appointment, and thereupon the
resignation or removal of the retiring Trustee shall become effective and such successor Trustee,
without any further act, deed or conveyance, shall become vested with all the rights, powers,
trusts and duties of the retiring Trustee; but, on the request of the Company or the successor
Trustee, such retiring Trustee shall, upon payment of its charges, execute and deliver an
instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring
Trustee and shall duly assign, transfer and deliver to such successor Trustee all property and
money held by such retiring Trustee hereunder.

          (b) In case of the appointment hereunder of a successor Trustee with respect to the Securities
of one or more (but not all) series, the Company, the retiring Trustee and each successor Trustee
with respect to the Securities of one or more series shall execute and deliver an indenture
supplemental hereto wherein each successor Trustee shall accept such appointment and which (1)
shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to
vest in, each successor Trustee all the rights, powers, trusts and duties of the retiring Trustee
with respect to the Securities of that or those series to which the appointment of such successor
Trustee relates, (2) if the retiring Trustee is not retiring with respect to all Securities, shall
contain such provisions as shall be deemed necessary or desirable to confirm that all the rights,
powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those
series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring
Trustee, and (3) shall add to or change any of the provisions of this Indenture as shall be
necessary to provide for or facilitate the administration of the trusts hereunder by more than one
Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute
such Trustees co-trustees of the same trust and that each such Trustee shall be trustee of a trust
or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other
such Trustee; and upon the execution and delivery of such supplemental indenture the resignation or
removal of the retiring Trustee shall become effective to the extent provided therein and each such
successor Trustee, without any further act, deed or conveyance, shall become vested with all the
rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or
those series to which the appointment of such successor Trustee relates; but, on request of the
Company or any successor Trustee, such retiring Trustee shall duly assign, transfer and deliver to
such successor Trustee all property and money held by such retiring Trustee hereunder with respect
to the Securities of that or those series to which the appointment of such successor Trustee
relates.

          (c) Upon request of any such successor Trustee, the Company shall execute any and all
instruments for more fully and certainly vesting in and confirming to such successor Trustee all
such rights, powers and trusts referred to in paragraph (a) or (b) of this section, as the case may
be.

          (d) No successor Trustee shall accept its appointment unless at the time of such acceptance
such successor Trustee shall be qualified and eligible under this article.

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SECTION 612. Merger, Conversion, Consolidation or Succession to Business.

          Any corporation into which the Trustee may be merged or converted or with which it may be
consolidated, or any corporation resulting from any merger, conversion or consolidation to which
the Trustee shall be a party, or any corporation succeeding to all or substantially all the
corporate trust business of the Trustee (including the administration of this Indenture), shall be
the successor of the Trustee hereunder, provided such corporation shall be otherwise
qualified and eligible under this article, without the execution or filing of any paper or any
further act on the part of any of the parties hereto. In case any Securities shall have been
authenticated, but not delivered, by the Trustee then in office, any successor by merger,
conversion or consolidation to such authenticating Trustee may adopt such authentication and
deliver the Securities so authenticated with the same effect as if such successor Trustee had
itself authenticated such Securities.

SECTION 613. Preferential Collection of Claims Against Company.

          If and when the Trustee shall be or become a creditor of the Company (or any other obligor
upon the Securities), the Trustee shall be subject to the provisions of the Trust Indenture Act
regarding the collection of claims against the Company (or any such other obligor). A trustee who
has resigned or been removed shall be subject to the Trust Indenture Act Section 311(a) to the
extent provided therein.

ARTICLE SEVEN

HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY

SECTION 701. Company to Furnish Trustee Names and Addresses of Holders.

          The Company will furnish or cause to be furnished to the Trustee with respect to the
Securities of each series

     (a) semi-annually, not more than fifteen days after each Regular Record Date, or, in
the case of any series of Securities on which semi-annual interest is not payable, not more
than fifteen days after such semi-annual dates as may be specified by the Trustee, a list,
in such form as the Trustee may reasonably require, of the names and addresses of the
Holders as of such Regular Record Date or such semi-annual date, as the case may be, and

     (b) at such other times as the Trustee may request in writing, within 30 days after the
receipt by the Company of any such request, a list of similar form and content as of a date
not more than 15 days prior to the time such list is furnished;

provided, however, that so long as the Trustee is the Security Registrar, no such
list need be furnished.

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SECTION 702. Preservation of Information; Communications to Holders.

          (a) The Trustee shall preserve, in as current a form as is reasonably practicable, the names
and addresses of Holders contained in the most recent list furnished to the Trustee as provided in
Section 701 and the names and addresses of Holders received by the Trustee in its capacity as
Security Registrar. The Trustee may destroy any list furnished to it as provided in Section 701
upon receipt of a new list so furnished.

          (b) If three or more Holders (herein referred to as “applicants”) apply in writing to the
Trustee, and furnish to the Trustee reasonable proof that each such applicant has owned a Security
for a period of at least six months preceding the date of such application, and such application
states that the applicants’ desire to communicate with other Holders with respect to their rights
under this Indenture or under the Securities and is accompanied by a copy of the form of proxy or
other communication which such applicants propose to transmit, then the Trustee shall, within five
Business Days after the receipt of such application, at its election, either

     (i) afford such applicants access to the information preserved at the time by the
Trustee in accordance with Section 702(a), or

     (ii) inform such applicants as to the approximate number of Holders whose names and
addresses appear in the information preserved at the time by the Trustee in accordance with
Section 702(a), and as to the approximate cost of mailing to such Holders the form of proxy
or other communication, if any, specified in such application.

          If the Trustee shall elect not to afford such applicants access to such information, the
Trustee shall, upon the written request of such applicants, mail to each Holder whose name and
address appear in the information preserved at the time by the Trustee in accordance with Section
702(a) a copy of the form of proxy or other communication which is specified in such request, with
reasonable promptness after a tender to the Trustee of the material to be mailed and of payment, or
provision for the payment, of the reasonable expenses of mailing, unless within five days after
such tender the Trustee shall mail to such applicants and file with the Commission, together with a
copy of the material to be mailed, a written statement to the effect that, in the opinion of the
Trustee, such mailing would be contrary to the best interest of the Holders or would be in
violation of applicable law. Such written statement shall specify the basis of such opinion. If
the Commission, after opportunity for a hearing upon the objections specified in the written
statement so filed, shall enter an order refusing to sustain any of such objections or if, after
the entry of an order sustaining one or more of such objections, the Commission shall find, after
notice and opportunity for hearing, that all the objections so sustained have been met and shall
enter an order so declaring, the Trustee shall mail copies of such material to all such Holders
with reasonable promptness after the entry of such order and the renewal of such tender; otherwise
the Trustee shall be relieved of any obligation or duty to such applicants respecting their
application.

          (c) Every Holder of Securities, by receiving and holding the same, agrees with the Company and
the Trustee that neither the Company nor the Trustee nor any agent of either of them shall be held
accountable by reason of the disclosure of any such information as to

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the names and addresses of the Holders in accordance with Section 702(b), regardless of the
source from which such information was derived, and that the Trustee shall not be held accountable
by reason of mailing any material pursuant to a request made under Section 702(b).

          (d) Subject to Sections 702(a), 702(b), 702(c) and 601, if the Company or any other person
(other than the Trustee) shall desire to communicate with Holders of Securities to solicit or
obtain from them any proxy, consent, authorization, waiver, approval of a plan of reorganization,
arrangement or readjustment or other action (“Holder Action”), the Trustee shall have no duty to
participate in such communication or solicitation or the processing of responses in any manner
except (i) to furnish the rules and regulations and to perform the functions referred to in Section
104 and (ii) to receive (A) the instruments evidencing the Holder Action together with (B) the
Officers’ Certificate and Opinion of Counsel referred to below. The Company hereby covenants that
any and all communications and solicitations distributed by it in connection with any Holder Action
will comply in all material respects with applicable law, including without limitation applicable
law concerning adequacy of disclosure. The Trustee shall have no responsibility for the accuracy
or completeness of any materials circulated to solicit any Holder Action nor for any related
communications nor for the compliance thereof with applicable law. No Holder Action shall become
effective until the Trustee shall have received from the Company or other person who solicited the
Holder Action (1) the instruments evidencing such Holder Action (2) (x) (in the case of Holder
Action solicited by the Company or the representative of the Company’s estate if the Company is the
debtor in any bankruptcy or other insolvency proceeding) an Officers’ Certificate and (y) (in all
cases) an Opinion of Counsel, each specifying the Holder Action taken and stating that such Holder
Action has been duly and validly taken in compliance with this Indenture in all material respects.
Such Officers’ Certificate, if any, shall also certify that (after giving effect to such Holder
Action) no Event of Default or event or condition which, with notice or lapse of time or both,
would become an Event of Default has occurred and is continuing or has not been waived.

          (e) The Depositary may grant proxies and otherwise authorize its participants which own the
Global Securities to give or take any Act which a Holder is entitled to take under the Indenture;
provided, however, that the Depositary has delivered a list of such participants to
the Trustee.

SECTION 703. Reports by Trustee.

          (a) Within 60 days after May 15 of each year commencing with the first May 15 following the
date of this Indenture, the Trustee shall transmit by mail to all Holders, as their names and
addresses appear in the Security Register, a brief report dated as of such May 15, to the extent
required by Section 313(a) of the Trust Indenture Act.

          (b) The trustee shall comply with Sections 313(b) and 313(c) of the Trust Indenture Act.

          (c) A copy of each such report shall, at the time of such transmission to Holders, be filed by
the Trustee with the Commission and with the Company. The Company will promptly notify the Trustee in
writing when any Securities are listed on any stock exchange and of any delisting thereof.

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SECTION 704. Reports by Company.

     The Company shall:

     (1) file with the Trustee, within 15 days after the Company is required to file the
same with the Commission, copies of the annual reports and of the information, documents and
other reports (or copies of such portions of any of the foregoing as the Commission may from
time to time by rules and regulations prescribe) which the Company may be required to file
with the Commission pursuant to Section 13 or Section 15(d) of the Securities Exchange Act
of 1934; or, if the Company is not required to file information, documents or reports
pursuant to either of said sections, then it shall file with the Trustee and the Commission,
in accordance with rules and regulations prescribed from time to time by the Commission,
such of the supplementary and periodic information, documents and reports which may be
required pursuant to Section 13 of the Securities Exchange Act of 1934 in respect of a
security listed and registered on a national securities exchange as may be prescribed from
time to time in such rules and regulations; and

     (2) file with the Trustee and the Commission, in accordance with the rules and
regulations prescribed from time to time by the Commission, such additional information,
documents and reports with respect to compliance by the Company with the conditions and
covenants of this Indenture as may be required from time to time by such rules and
regulations.

          The delivery of such reports, information and documents to the Trustee is for informational
purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any
information contained therein or determinable from information contained therein, including the
Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to
rely exclusively on Officers’ Certificates).

ARTICLE EIGHT

AMENDMENTS & SUPPLEMENTAL INDENTURES

SECTION 801. Amendments or Supplemental Indentures without Consent of Holders.

          The Company, when authorized by a Board Resolution, and the Trustee, at any time and from
time to time, may amend or supplement this Indenture or the Securities without the consent of any
Holder, so long as such changes, other than those in clause (2), do not materially and adversely
affect the interests of the Holder:

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

     (2) to make any modifications or amendments that do not, in the good faith opinion of
the Company’s Board of Directors and the Trustee, adversely affect the interests of the
Holders in any material respect;

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     (3) to provide for the assumption of the Company’s obligations under this Indenture by
a successor upon any merger, consolidation or asset transfer as permitted by and in
compliance with Article Eight of this Indenture and the terms of any applicable supplemental
indenture;

     (4) to provide any security for or guarantees of the Securities;

     (5) to add Events of Default with respect to the Securities;

     (6) to add to the Company’s covenants for the benefit of the Holders or to surrender
any right or power conferred upon the Company by this Indenture;

     (7) to make any change necessary for the registration of the Securities under the
Securities Act of 1933, as amended, or to comply with the Trust Indenture Act, or any
amendment thereto, or to comply with any requirement of the Commission in connection with
the qualification of the Indenture under the Trust Indenture Act, provided that such
modification or amendment does not, in the good faith opinion of the Company’s Board of
Directors and the Trustee, adversely affect the interests of the Holders of the Securities
in any material respect;

     (8) to provide for uncertificated Securities in addition to or in place of Certificated
Securities or to provide for bearer Securities;

     (9) to add to or change any of the provisions of this Indenture to such extent as shall
be necessary to permit or facilitate the issuance of Securities in bearer form, registrable
or not registrable as to principal, and with or without interest coupons;

     (10) to change or eliminate any of the provisions of this Indenture, provided
that any such change or elimination shall become effective only when there is no Security
Outstanding of any series created prior to the execution of such supplemental indenture
which is entitled to the benefit of such provision;

     (11) to establish the form or terms of Securities of any series as permitted by
Sections 201 and 301; or

     (12) to evidence and provide for the acceptance of appointment hereunder by a successor
Trustee with respect to the Securities of one or more series and to add to or change any of
the provisions of this Indenture as shall be necessary to provide for or facilitate the
administration of the trusts hereunder by more than one Trustee, pursuant to the
requirements of Section 611(b).

SECTION 802. Amendments or Supplemental Indentures with Consent of Holders.

          With the written consent of the Holders of not less than a majority in aggregate principal
amount of the Securities at the time Outstanding, the Company, when authorized by a Board
Resolution, and the Trustee, at any time and from time to time, may amend or supplement

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this Indenture or the Securities. However, without the consent of each Holder affected, an
amendment to this Indenture or the Securities may not:

     (1) change the Stated Maturity of the principal of or any installment of interest with
respect to the Securities;

     (2) reduce the principal amount of, or the rate of interest on, the Securities;

     (3) change the currency of payment of principal of or interest on the Securities;

     (4) impair the right to institute suit for the enforcement of any payment on or with
respect to the Securities;

     (5) reduce the above-stated percentage of Holders of the Securities of any series
necessary to modify or amend this Indenture;

     (6) modify the foregoing requirements or reduce the percentage of Outstanding
Securities necessary to waive any covenant or past default;

     (7) if the Securities are convertible, materially adversely affect the right to convert
the Securities into Class A Common Stock or Preferred Stock in accordance with the
provisions of this Indenture; or

     (8) modify the provisions of Article Ten hereof in any manner materially adverse to the
holders of Outstanding Securities.

          It shall not be necessary for any Act of the Holders under this Section 802 to approve the
particular form of any proposed amendment or supplemental indenture, but it shall be sufficient if
such Act approves the substance thereof.

          After an amendment or supplemental indenture under this Section 802 becomes effective, the
Company shall mail to each Holder a notice briefly describing the amendment or supplemental
indenture.

          An amendment or supplemental indenture which changes or eliminates any covenant or other
provision of this Indenture which has expressly been included solely for the benefit of one or more
particular series of Securities, or which modifies the rights of the Holders of Securities of such
series with respect to such covenant or other provision, shall be deemed not to affect the rights
under this Indenture of the Holders of Securities of any other series.

SECTION 803. Execution of Supplemental Indentures.

          The Trustee shall sign any supplemental indenture authorized pursuant to this article if the
amendment contained therein does not adversely affect the rights, duties, liabilities or immunities
of the Trustee. If it does, the Trustee may, but need not, sign such supplemental indenture. In
executing, or accepting the additional trusts created by, any supplemental indenture permitted by
this article or the modifications thereby of the trusts created by this Indenture, the

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Trustee shall receive, and (subject to Section 601) shall be fully protected in relying upon,
an Officers’ Certificate and an Opinion of Counsel stating that the execution of such supplemental
indenture is authorized or permitted by this Indenture.

SECTION 804. Effect of Supplemental Indentures.

          Upon the execution of any supplemental indenture under this article, this Indenture shall be
modified in accordance therewith, and such supplemental indenture shall form a part of this
Indenture for all purposes; and every Holder of Securities theretofore or thereafter authenticated
and delivered hereunder shall be bound thereby.

SECTION 805. Conformity with Trust Indenture Act.

          Every supplemental indenture executed pursuant to this article shall conform to the
requirements of the Trust Indenture Act as then in effect.

SECTION 806. Reference in Securities to Supplemental Indentures.

          Securities of any series authenticated and delivered after the execution of any supplemental
indenture pursuant to this article may, and shall if required by the Trustee, bear a notation in
form approved by the Trustee as to any matter provided for in such supplemental indenture. If the
Company shall so determine, new Securities of any series so modified as to conform, in the opinion
of the Trustee and the Company, to any such supplemental indenture may be prepared and executed by
the Company and authenticated and delivered by the Trustee in exchange for Outstanding Securities
of such series.

ARTICLE NINE

COVENANTS

SECTION 901. Payment of Principal, Premium and Interest.

          The Company covenants and agrees for the benefit of each series of Securities that it will
duly and punctually pay the principal of (and premium, if any) and interest on the Securities of
that series in accordance with the terms of the Securities and this Indenture. At the option of
the Company, payment of principal (and premium, if any) and interest may be made by wire transfer
or (subject to collection) by check mailed to the address of the Person entitled thereto at such
address as shall appear in the Security Register.

SECTION 902. Maintenance of Office or Agency.

          The Company will maintain in each Place of Payment for any series of Securities an office or
agency where Securities of that series may be presented or surrendered for registration of transfer
or exchange and where notices and demands to or upon the Company in respect of the Securities of
that series and this Indenture may be served. The Company hereby initially appoints the Trustee
its office or agency for each of said purposes. The Company will give prompt written notice to the
Trustee of the location, and any change in the location, of such of-

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fice or agency. If at any time the Company shall fail to maintain any such required office or
agency or shall fail to furnish the Trustee with the address thereof, such presentations,
surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee,
and the Company hereby appoints the Trustee as its agent to receive all such presentations,
surrenders, notices and demands.

          The Company may also from time to time designate one or more other offices or agencies where
the Securities of one or more series 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 shall in any manner relieve the Company of its obligation to
maintain an office or agency in each Place of Payment for Securities of any series 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.

SECTION 903. Money for Securities; Payments to Be Held in Trust.

          If the Company shall at any time act as its own Paying Agent with respect to any series of
Securities, it will, on or before each due date of the principal of (and premium, if any) or
interest on any of the Securities of that series, segregate and hold in trust for the benefit of
the Persons entitled thereto a sum sufficient to pay the principal (and premium, if any) or
interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as
herein provided and will promptly notify the Trustee of its action or failure so to act.

          Whenever the Company shall have one or more Paying Agents for any series of Securities, it
will, on or prior to each due date of the principal of (and premium, if any) or interest on any
Securities of that series, deposit with a Paying Agent a sum sufficient to pay the principal (and
premium, if any) or interest so becoming due, such sum to be held in trust for the benefit of the
Persons entitled to such principal, premium or interest, and (unless such Paying Agent is the
Trustee) the Company will promptly notify the Trustee of its action or failure so to act.

          The Company will cause each Paying Agent for any series of Securities other than the Trustee
to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the
Trustee, subject to the provisions of this section, that such Paying Agent will:

     (1) hold all sums held by it for the payment on the principal of (and premium, if any)
or interest on Securities of that series in trust for the benefit of the Persons entitled
thereto until such sums shall be paid to such Persons or otherwise disposed of as herein
provided;

     (2) give the Trustee notice of any default by the Company (or any other obligor upon
the Securities of that series) in the making of any payment of principal (and premium, if
any) or interest on the Securities of that series; and

     (3) at any time during the continuance of any such default, upon the written request of
the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent.

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          The Company may at any time, for the purpose of obtaining the satisfaction and discharge of
this Indenture or for any other purpose, pay, or by Company Order direct any Paying Agent to pay,
to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by
the Trustee upon the same trusts as those upon which such sums were held by the Company or such
Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be
released from all further liability with respect to such money.

          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 (and premium, if any) or interest on any Security of any
series and remaining unclaimed for two years after such principal (and premium, if any) or interest
has become due and payable shall be paid to the Company on Company Request, or (if then held by the
Company) shall be discharged from such trust; and the Holder of such Security shall thereafter, as
an unsecured general creditor, 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, shall 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 mailed or published once, in a newspaper published in the English language,
customarily published on each Business Day and of general circulation in the City, County and State
of New York, or both, notice that such money remains unclaimed and that, after a date specified
therein, which shall not be less than 30 days from the date of such mailing or publication, any
unclaimed balance of such money then remaining will be repaid to the Company.

          The Company shall have no obligation to make payment of principal of (or premium, if any) or
interest on any Security in immediately available funds, except that if the Company shall have
received original payment for Securities in immediately available funds it shall make available
immediately available funds for payment of the principal of such Securities.

SECTION 904. Corporate Existence.

          The Company will do or cause to be done all things necessary to preserve and keep in full
force and effect its corporate existence, rights (charter and statutory) and franchises;
provided, however, that the Company shall not be required to preserve any such
right or franchise 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 that the loss thereof is not
disadvantageous in any material respect to the Holders.

SECTION 905. Maintenance of Properties.

          The Company will use its reasonable efforts to cause all material properties used or useful in
the conduct of its business to be maintained and kept in good condition, repair and working order
(subject to wear and tear) and supplied with all necessary material equipment and will use its
reasonable efforts to cause to be made all necessary material repairs, renewals, replacements,
betterments and improvements thereof, all as in the judgment of the Company may be necessary so
that the business carried on in connection therewith may be properly and advantageously conducted
at all times; provided, however, that nothing in this section shall prevent the

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Company from discontinuing the operation or maintenance of any of such properties if such
discontinuance is, in the judgment of the Company, desirable in the conduct of its business and not
disadvantageous in any material respect to the Holders.

SECTION 906. Statement by Officers as to Default.

          The Company will deliver to the Trustee, within 120 days after the end of each fiscal year of
the Company ending after the date hereof, a certificate of the principal executive officer,
principal financial officer or principal accounting officer of the Company stating whether or not
to the best knowledge of the signers thereof the Company is in default (without regard to grace
periods or notice requirements) in the performance and observance of any of the terms, provisions
and conditions of this Indenture, and if the Company shall be in default, specifying all such
defaults and the nature and status thereof of which they may have knowledge.

SECTION 907. Waiver of Certain Covenants.

          The Company may omit in any particular instance to comply with any term, provision or
condition set forth in Section 906 if before or after the time for such compliance the Holders of
at least a majority in principal amount of the Outstanding Securities (taken together as one class)
shall, by Act of such Holders, either waive such compliance in such instance or generally waive
compliance with such term, provision or condition except to the extent so expressly waived, and,
until such waiver shall become effective, the obligations of the Company and the duties of the
Trustee in respect of any such term, provision or condition shall remain in full force and effect.

SECTION 908. Calculation of Original Issue Discount.

          The Company shall file with the Trustee promptly at the end of each calendar year (i) a
written notice specifying the amount of original issue discount (including daily rates and accrual
periods) accrued on Outstanding Securities as of the end of such year and (ii) such other specific
information relating to such original issue discount as may then be relevant under the Internal
Revenue Code of 1986, as amended from time to time.

ARTICLE TEN

REDEMPTION OF SECURITIES

SECTION 1001. Applicability of Article.

          Securities of any series which are redeemable before their Stated Maturity shall be redeemable
in accordance with their terms and (except as otherwise specified as contemplated by Section 301
for Securities of any series) in accordance with this article.

SECTION 1002. Election to Redeem; Notice to Trustee.

          The election of the Company to redeem any Securities shall be evidenced by a Board Resolution.
In case of any redemption at the election of the Company of less than all the

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Securities of any series, the Company shall, at least 45 days prior to the Redemption Date
fixed by the Company (unless a shorter notice shall be satisfactory to the Trustee), notify the
Trustee of such Redemption Date and of the principal amount of Securities of such series to be
redeemed, such notice to be accompanied by a written statement signed by an authorized officer of
the Company stating that no defaults in the payment of interest or Events of Default with respect
to the Securities of that series have occurred (which have not been waived or cured). In the case
of any redemption of Securities prior to the expiration of any restriction on such redemption
provided in the terms of such Securities or elsewhere in this Indenture, the Company shall furnish
the Trustee an Officers’ Certificate evidencing compliance with such restriction.

SECTION 1003. Selection by Trustee of Securities to Be Redeemed.

          If less than all the Securities of any series are to be redeemed, the particular Securities to
be redeemed shall be selected not more than 60 days prior to the Redemption Date by the Trustee,
from the Outstanding Securities of such series not previously called for redemption, by such method
as the Trustee in its sole discretion shall deem fair and appropriate and which may provide for the
selection or redemption of portions (equal to the minimum authorized denomination for Securities of
that series or any integral multiple thereof) of the principal amount of Securities of such series
of a denomination larger than the minimum authorized denomination for Securities of that series.

          The Trustee shall promptly notify the Company in writing of the Securities selected for
redemption and, in the case of any Securities selected for partial redemption, the principal amount
thereof to be redeemed.

          For all purposes of this Indenture, unless the context otherwise requires, all provisions
relating to the redemption of Securities shall relate, in the case of any Securities redeemed or to
be redeemed only in part, to the portion of the principal amount of such Securities which has been
or is to be redeemed.

SECTION 1004. Notice of Redemption.

          Notice of redemption shall be given by first-class mail, postage prepaid, mailed not less than
30 nor more than 60 days prior to the Redemption Date, to each Holder of Securities to be redeemed,
at his address appearing in the Security Register. Any notice which is mailed in the manner herein
provided shall be conclusively presumed to have been duly given, whether or not such Holder
receives the notice. Failure to give notice by mail, or any defect in the notice to any such
Holder in respect of any Security, shall not affect the validity of the proceedings for the
redemption of any other Security.

          All notices of redemption shall state:

     (1) the Redemption Date,

     (2) the Redemption Price and any accrued interest,

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     (3) if less than all the Outstanding Securities of any series are to be redeemed, the
identification (and, in the case of partial redemption, the principal amounts) of the
particular Securities to be redeemed,

     (4) that on the Redemption Date the Redemption Price and any accrued interest will
become due and payable upon each such Security to be redeemed together with accrued interest
thereon and, if applicable, that interest thereon will cease to accrue on and after said
date,

     (5) the place or places where such Securities are to be surrendered for payment of the
Redemption Price and any accrued interest,

     (6) that the redemption is for a sinking fund, if such is the case, and

     (7) the CUSIP number and, if applicable, the ISIN number, of the Securities being
redeemed.

          Notice of redemption of Securities to be redeemed at the election of the Company shall be
given by the Company or, at the Company’s request, by the Trustee in the name and at the expense of
the Company.

SECTION 1005. Deposit of Redemption Price.

          On or prior to 10:00 A.M. (New York City time) on any Redemption Date, the Company shall
deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its own Paying
Agent, segregate and hold in trust as provided in Section 903) an amount of money, in funds
immediately available on the due date, sufficient to pay the Redemption Price of, and (except if
the Redemption Date shall be an Interest Payment Date) accrued interest on, all the Securities
which are to be redeemed on that date.

SECTION 1006. Securities Payable on Redemption Date.

          Notice of redemption having been given as aforesaid, the Securities so to be redeemed shall,
on the Redemption Date, become due and payable at the Redemption Price therein specified together
with accrued interest thereon, and from and after such date (unless the Company shall default in
the payment of the Redemption Price and accrued interest) such Securities shall cease to bear
interest. Upon surrender of any such Security for redemption in accordance with said notice, such
Security shall be paid by the Company at the Redemption Price, together with accrued interest to
the Redemption Date; provided, however, that installments of interest whose Stated
Maturity is on the Redemption Date shall be payable to the Holders of such Securities, or one or
more Predecessor Securities, registered as such at the close of business on the relevant Record
Dates according to their terms and the provisions of Section 307.

          If any Security called for redemption shall not be so paid upon surrender thereof for
redemption, the principal (and premium, if any) shall, until paid, bear interest from the
Redemption Date at the rate prescribed therefor in the Security.

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          The Trustee shall not redeem any Securities of any series pursuant to this article (unless all
Outstanding Securities of such series are to be redeemed) or mail or give any notice of redemption
of Securities during the continuance of an Event of Default hereunder known to the Trustee with
respect to such series, except that, where the mailing of notice of redemption of any Securities
shall theretofore have been made, the Trustee shall redeem or cause to be redeemed such Securities,
provided that it shall have received from the Company a sum sufficient for such redemption.
Except as aforesaid, any moneys theretofore or thereafter received by the Trustee shall, during
the continuance of such Event of Default, be deemed to have been collected under Article Five and
held for the payment of all such Securities of such series. In case such Event of Default shall
have been waived as provided in Section 513 or the default cured on or before the sixtieth day
preceding the Redemption Date, such moneys shall thereafter be applied in accordance with the
provisions of this article.

SECTION 1007. Securities Redeemed in Part.

          Any Security which is to be redeemed only in part shall be surrendered at a Place of Payment
therefor (with, if the Company or the Trustee so requires, due endorsement by, or a written
instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the
Holder thereof or his attorney duly authorized in writing), and the Company shall execute, and the
Trustee shall authenticate and deliver to the Holder of such Security without service charge, a new
Security or Securities of the same series, of any authorized denomination as requested by such
Holder, in aggregate principal amount equal to and in exchange for the unredeemed portion of the
principal of the Security so surrendered.

ARTICLE ELEVEN

SINKING FUNDS

SECTION 1101. Applicability of Article.

          The provisions of this article shall be applicable to any sinking fund for the retirement of
Securities of a series except as otherwise specified as contemplated by Section 301 for Securities
of such series.

          The minimum amount of any sinking fund payment provided for by the terms of Securities of any
series is herein referred to as a “mandatory sinking fund payment,” and any payment in excess of
such minimum amount provided for by the terms of Securities of any series is herein referred to as
an “optional sinking fund payment.” If provided for by the terms of Securities of any series, the
cash amount of any sinking fund payment may be subject to reduction as provided in Section 1102.
Each sinking fund payment shall be applied to the redemption of Securities of any series as
provided for by the terms of Securities of such series.

SECTION 1102. Satisfaction of Sinking Fund Payments with Securities.

          The Company (1) may deliver Outstanding Securities of a series (other than any previously
called for redemption) and (2) may apply as credit Securities of a series which have been redeemed
either at the election of the Company pursuant to the terms of such Securities or

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through the application of permitted optional sinking fund payments pursuant to the terms of
such Securities, in each case in satisfaction of all or any part of any sinking fund payment with
respect to the Securities of such series required to be made pursuant to the terms of such
Securities as provided for by the terms of such series; provided that such Securities have
not been previously so credited. Such Securities shall be received and credited for such purpose
by the Trustee at the Redemption Price specified in such Securities for redemption through
operation of the sinking fund and the amount of such sinking fund payment shall be reduced
accordingly.

SECTION 1103. Redemption of Securities for Sinking Fund.

          Not less than 60 days prior to each sinking fund payment date for any series of Securities,
the Company (1) will deliver to the Trustee an Officers’ Certificate (A) stating that no defaults
in the payment of interest or Events of Default with respect to Securities of that series have
occurred (which have not been waived or cured), (B) specifying the amount of the next ensuing
sinking fund payment for that series pursuant to the terms of Securities of that series, (C)
stating whether or not the Company intends to exercise its right, if any, to make an optional
sinking fund payment with respect to such series on the next ensuing sinking fund payment date and,
if so, specifying the amount of such optional sinking fund payment and (D) specifying the portion
of such sinking fund payment, if any, which is to be satisfied by payment of cash and the portion
thereof, if any, which is to be satisfied by delivering and crediting Securities of that series
pursuant to Section 1102 and (2) will also deliver to the Trustee any Securities to be so
delivered. Not less than 30 days before each such sinking fund payment date the Trustee shall
select the Securities of such series to be redeemed upon such sinking fund payment date in the
manner specified in Section 1003 and cause notice of the redemption thereof to be given in the name
of and at the expense of the Company in the manner provided in Section 1004. Such notice having
been duly given, the redemption of such Securities shall be made upon the terms and in the manner
stated in Sections 1005, 1006 and 1007. Failure of the Company, on or before any such 60th day, to
deliver such Officers’ Certificate and Securities specified in this section, if any, shall not
constitute a default but shall constitute, on and as of such date, the irrevocable election of the
Company (a) that the mandatory sinking fund payment for such series due on the next succeeding
sinking fund payment date shall be paid entirely in cash without the option to deliver or credit
Securities of such series in respect thereof and (b) that the Company will make no optional sinking
fund payment with respect to Securities of such series as provided in this article.

          The Trustee shall not redeem or cause to be redeemed any Security of a series with sinking
fund moneys or mail any notice of redemption of Securities of such series by operation of the
sinking fund during the continuance of a default in payment of interest on such Securities or of
any Event of Default with respect to such series except that, where the mailing of notice of
redemption of any Securities shall therefore have been made, the Trustee shall redeem or cause to
be redeemed such Securities, provided that it shall have received from the Company a sum sufficient
for such redemption. Except as aforesaid, any moneys in the sinking fund for such series at the
time when any such default or Event of Default shall occur, and any moneys thereafter paid into the
sinking fund, shall, during the continuance of such default or Event of Default, be deemed to have
been collected under Article Five and held for the payment of all such Securities of such series. In case such
Event of Default shall have been waived as provided in Section 513 or the default cured on or before the 60th day preceding the sinking fund
payment

-55-

 

date, such moneys shall thereafter be applied on the next succeeding sinking fund payment date
in accordance with this section to the redemption of such Securities.

-56-

 

          IN WITNESS WHEREOF, DELPHI FINANCIAL GROUP, INC. has caused this Indenture to be duly executed
as a deed the day and year first before written.

	 	 	 	 	 
	 	 	 
	 	By:  	                                              /s/ Chad W. Coulter
 	 
	 	 	Name:  	Chad W. Coulter 	 
	 	 	Title:  	Sr. Vice President, Secretary and
General Counsel 	 

 

	 	 	 	 	 

          IN WITNESS WHEREOF, the undersigned, being duly authorized, has executed this Indenture as of
the date first above written.

	 	 	 	 	 
	 	

U.S. BANK NATIONAL ASSOCIATION,

as Trustee

 	 
	 	By:  	/s/ Michelle Mena
 	 
	 	 	Name:  	Michelle Mena 	 
	 	 	Title:  	Vice Presidentexv4w2

Exhibit 4.2

DELPHI FINANCIAL GROUP, INC.

and

U.S. BANK NATIONAL ASSOCIATION

Trustee

 

FIRST SUPPLEMENTAL INDENTURE

Dated as of January 20, 2010

 

$250,000,000

7.875% Senior Notes

Due 2020

 

 

TABLE OF CONTENTS1

	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	 
	 	ARTICLE I	 	 	 	 
	 
	 	 	 	 	 	 
	 
	 	7.875% Senior Notes	 	 	 	 
	 

	SECTION 1.1
	 	Establishment	 	 	2	 
	SECTION 1.2
	 	Definitions	 	 	2	 
	SECTION 1.3
	 	Payment of Principal and Interest	 	 	4	 
	SECTION 1.4
	 	Interest Rate Adjustment	 	 	5	 
	SECTION 1.5
	 	Payment of Additional Amount by a Foreign Successor Issuer	 	 	6	 
	SECTION 1.6
	 	Denominations	 	 	8	 
	SECTION 1.7
	 	Global Securities	 	 	9	 
	SECTION 1.8
	 	Redemption; No Sinking Fund	 	 	10	 
	SECTION 1.9
	 	Tax Redemption.	 	 	10	 
	SECTION 1.10
	 	Paying Agent	 	 	11	 
	 
	 	 	 	 	 	 
	 
	 	ARTICLE II	 	 	 	 
	 
	 	 	 	 	 	 
	 
	 	Event of Default	 	 	 	 
	 

	SECTION 2.1
	 	Event of Default	 	 	11	 
	 
	 	 	 	 	 	 
	 
	 	ARTICLE III	 	 	 	 
	 
	 	 	 	 	 	 
	 
	 	Covenants	 	 	 	 
	 
	 	 	 	 	 	 
	SECTION 3.1
	 	Company May Consolidate, Etc. Only on Certain Terms	 	 	13	 
	SECTION 3.2
	 	Successor Substituted	 	 	14	 
	SECTION 3.3
	 	Limitation on Liens	 	 	14	 
	 
	 	 	 	 	 	 
	 
	 	ARTICLE IV	 	 	 	 
	 
	 	 	 	 	 	 
	 
	 	Miscellaneous Provisions	 	 	 	 
	 
	 	 	 	 	 	 
	SECTION 4.1
	 	Recitals by Company	 	 	14	 
	SECTION 4.2
	 	Ratification and Incorporation of Original Indenture	 	 	14	 
	SECTION 4.3
	 	Governing Law	 	 	14	 
	SECTION 4.4
	 	Executed in Counterparts	 	 	15	 

EXHIBIT A     Form of 7.875% Senior Note Due January 31, 2020

EXHIBIT B     Certificate of Authentication

 

			
	1	 	This Table of Contents does not constitute part of the Indenture or have any bearing
upon the interpretation of any of its terms and provisions.

-i-

 

     THIS FIRST SUPPLEMENTAL INDENTURE is made as of the 20th day of January, 2010, by and between
DELPHI FINANCIAL GROUP, INC., a corporation duly organized and existing under the laws of the State
of Delaware (the “Company”), and U.S. Bank National Association, a national banking association, as
Trustee (herein called the “Trustee”).

WITNESSETH:

     WHEREAS, the Company has heretofore entered into a Senior Indenture, dated as of January 20,
2010 (the “Original Indenture”) with the Trustee;

     WHEREAS, the Original Indenture is incorporated herein by this reference and the Original
Indenture, as may be amended and supplemented to the date hereof, including by this First
Supplemental Indenture, is herein called the “Indenture”;

     WHEREAS, under the Indenture, a new series of Securities may at any time be established in
accordance with the provisions of the Indenture and the terms of such series may be described by a
supplemental indenture executed by the Company and the Trustee;

     WHEREAS, the Company proposes to create under the Indenture a series of Securities;

     WHEREAS, additional Securities of other series hereafter established, except as may be limited
in the Indenture as at the time supplemented and modified, may be issued from time to time pursuant
to the Indenture as at the time supplemented and modified;

     WHEREAS, all conditions necessary to authorize the execution and delivery of this First
Supplemental Indenture and to make it a valid and binding obligation of the Company have been done
or performed;

     WHEREAS, Section 801(6) of the Original Indenture provides that the Company and the Trustee
may enter into indentures supplemental to the Original Indenture to add to the covenants of the
Company for the benefit of the Holders of all or any series of Securities;

     WHEREAS, Section 801(10) of the Original Indenture provides that the Company and Trustee may
enter into indentures supplemental to the Original Indenture to change or eliminate any of the
provisions of the Original Indenture;

     WHEREAS, the Company desires to delete Section 501 of the Original Indenture as set forth in
Section 2.1 of this First Supplemental Indenture, with such modification to be effective as to the
7.875% Notes and any series of Securities subsequently created unless otherwise provided in such
series or in a supplemental indenture creating such series;

     NOW, THEREFORE, in consideration of the agreements and obligations set forth herein and for
other good and valuable consideration, the sufficiency of which is hereby acknowledged, the parties
hereto hereby agree as follows:

 

 

ARTICLE I

7.875% Senior Notes

     SECTION 1.1 Establishment. There is hereby established a new series of Securities to be issued under the
Indenture, to be designated as the Company’s 7.875% Senior Notes due January 31, 2020 (the “7.875%
Notes”).

     The initial aggregate principal amount of the 7.875% Notes which may be authenticated and
delivered under this Indenture is limited to $250,000,000, except for the 7.875% Notes
authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of,
other 7.875% Notes pursuant to Sections 304, 305, 306 or 1003 of the Original Indenture. The series
may be reopened subsequent to the issuance of the 7.875% Notes and additional 7.875% Notes issued.
Any 7.875% Notes issued pursuant to such reopening shall be consolidated with the outstanding
7.875% Notes as a single series.

     The 7.875% Notes shall be in substantially the form set out in Exhibit A hereto, and the form
of the Trustee’s Certificate of Authentication for the 7.875% Notes shall be in substantially the
form set forth in Exhibit B hereto.

     Each 7.875% Note shall be dated the date of authentication thereof and shall bear interest
from the date of original issuance thereof or from the most recent Interest Payment Date to which
interest has been paid or duly provided for.

     SECTION 1.2 Definitions.

     The following defined terms used herein shall, unless the context otherwise requires, have the
meanings specified below. Capitalized terms used herein for which no definition is provided herein
shall have the meanings set forth in the Original Indenture.

     “Additional Amounts” has the meaning ascribed to such term in Section 1.8.

     “2007 Junior Debentures” means the 7.376% Fixed-to-Floating Rate Junior Subordinated
Debentures due 2067 issued by the Company pursuant to a first supplemental indenture and an
indenture, in each case dated May 23, 2007, between the Company and U.S. Bank National Association
as trustee.

     “2033 Senior Notes” means the 8.00% Senior Notes due 2033 issued by the Company pursuant to a
first supplemental indenture and an indenture, in each case dated May 20, 2003, between the Company
and Wilmington Trust Company, as trustee.

     “Business Day” shall mean a day other than a day on which banks in New York, New York are
authorized or required by law, executive order or regulation to remain closed.

     “Comparable Treasury Issue” means the U.S. Treasury security selected by the Independent
Investment Banker as having a maturity comparable to the remaining term (“remaining life”) of the
7.875% Notes to be redeemed that would be utilized, at the time of selection and in

-2-

 

accordance with customary financial practice, in pricing new issues of corporate debt
securities of comparable maturity to the remaining life.

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

     “Fitch” means Fitch Ratings and its successors.

     “Foreign Successor Issuer” means any entity that is organized in Bermuda, Canada, a European
Union Member State or Switzerland and becomes a successor of the Company as a result of a merger or
consolidation of the Company with and into such entity or conveyance, or the transfer or lease of
the properties and assets of the Company substantially as an entirety to such entity or conveyance,
in each case after the date hereof and in accordance with the provisions set forth in Section 3.1.

     “Independent Investment Banker” means Banc of America Securities LLC or Wells Fargo
Securities, LLC, as specified by the Company, or, if these firms are unwilling or unable to select
the Comparable Treasury Issue, an independent investment banking institution of national standing
appointed by the Company.

     “Interest Payment Dates” means January 31 and July 31 of each year, beginning July 31, 2010.

     “Moody’s” means Moody’s Investors Service, Inc. and its successors.

     “Reference Treasury Dealer” means (1) Banc of America Securities LLC and a primary treasury
dealer (as defined below) selected by Wells Fargo Securities, LLC and their respective successors;
provided, however, that if any of the foregoing shall cease to be a primary U.S. government
securities dealer in New York City (a “primary treasury dealer”), the Company will substitute
therefor another primary treasury dealer and (2) any three other primary treasury dealers selected
by the Company after consultation with the Independent Investment Banker.

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

     “Regular Record Date” means January 15 and July 15 of each year, beginning July 15, 2010.

     “Relevant Taxing Jurisdiction” has the meaning ascribed to such term in Section 1.5.

-3-

 

     “Restricted Subsidiary” means any present or future Subsidiary of the Company, the
consolidated total assets of which constitute at least 15% of the Company’s total consolidated
assets; and any successor to any such Subsidiary.

     “S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc.

     “Stated Maturity” means January 31, 2020.

     “Taxes” has the meaning ascribed to such term in Section 1.8.

     “Treasury Rate” means, with respect to any redemption date:

	 	•	 	the yield to maturity, under the heading which represents the average for the
calendar week immediately preceding the date of calculation, as compiled and
published in the most recently published statistical release designated
“H.15(519)” that has become publicly available for at least three business days
prior to such redemption date, or any successor publication which is published
weekly by the Board of Governors of the Federal Reserve System and which
establishes yields on actively traded U.S. Treasury securities adjusted to
constant maturity under the caption “Treasury Constant Maturities,” for the
maturity corresponding to the Comparable Treasury Issue (if no maturity is within
three months before or after the remaining life (as defined below), yields for the
two published maturities most closely corresponding to the Comparable Treasury
Issue will be determined and the Treasury Rate will be interpolated or
extrapolated from such yields on a straight line basis, rounding to the nearest
one-twelfth of a year); or
	 
	 	•	 	if such release (or any successor release) is not published during the week
immediately preceding the date of calculation or does not contain such yields, the
rate per annum equal to the semiannual equivalent yield to maturity of the
Comparable Treasury Issue, calculated using a price for the Comparable Treasury
Issue (expressed as a percentage of its principal amount) equal to the Comparable
Treasury Price for such redemption date.

     “Underwriting Agreement” means that certain Underwriting Agreement dated January 14, 2010
among the Company, Banc of America Securities LLC and Wells Fargo Securities, LLC, as
representatives of the several underwriters named therein.

     SECTION 1.3 Payment of Principal and Interest. The unpaid principal amount of the 7.875% Notes shall bear
interest at the rate of 7.875% per annum until paid or duly provided for, such interest to accrue
from January 20, 2010 or from the most recent Interest Payment Date to which interest has been paid
or duly provided for. Interest shall be paid semi-annually in arrears on each Interest Payment Date
to the Person in whose name the 7.875% Notes are registered on the Regular Record Date for such
Interest Payment Date; provided that interest payable at the Stated Maturity of principal or on a
redemption date as provided herein will be paid to the Person to whom principal is payable.

-4-

 

     Payments of interest on the 7.875% Notes will include interest accrued to but excluding
the respective Interest Payment Dates. Interest payments for the 7.875% Notes shall be computed and
paid on the basis of a 360-day year of twelve 30-day months. The amount of interest payable for any
period shorter than a full semi-annual interest period will be computed on the basis of the actual
number of days elapsed in a 180-day period. In the event that any date on which interest is payable
on the 7.875% Notes is not a Business Day, then payment of the interest payable on such date will
be made on the next succeeding day that is a Business Day (and without any interest or payment in
respect of any such delay), in each case with the same force and effect as if made on the date the
payment was originally payable.

     Payment of the principal and interest on the 7.875% Notes shall be made at the office of the
Paying Agent 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, with any such payment that is due at the
Stated Maturity or at earlier redemption of any 7.875% Notes being made upon surrender of such
7.875% Notes to the Paying Agent. Payment in respect of the 7.875% Notes represented as Global
Securities (including principal and interest) will be made by wire transfer of immediately
available funds to the accounts specified by the Person entitled thereto. With respect to 7.875%
Notes in certificated form, the Company will make all payments of principal and interest by check
mailed to the address of the Person entitled thereto as such address shall appear in the Security
Register.

     SECTION 1.4 Interest Rate Adjustment. If the rating on the 7.875% Notes from Moody’s, S&P, or Fitch, is a
rating set forth in the immediately following table, the per annum interest rate on the 7.875%
Notes will increase from that set forth herein by the percentage set forth opposite that rating;
however, for this purpose, only the two lowest of the rating levels of Moody’s, S&P and Fitch shall
be taken into account:

	 	 	 	 	 	 	 	 	 	 	 
	Rating	 	Rating Agency	 	 
	Levels	 	Moody’s	 	S&P	 	Fitch	 	Percentage
	 
	 	 	 	 	 	 	 	 	 	 
	1

	 	Ba1
	 	BB+
	 	BB+
	 	 	0.25%	
	2

	 	Ba2
	 	BB
	 	BB
	 	 	0.50%	
	3

	 	Ba3
	 	BB-
	 	BB-
	 	 	0.75%	
	4

	 	B1 or below
	 	B+ or below
	 	B+ or below
	 	 	1.00%	

     If any of Moody’s, S&P or Fitch subsequently increases its rating with respect to the 7.875%
Notes to or above any of the threshold ratings set forth above, the per annum interest rate on such
7.875% Notes will be decreased such that the per annum interest rate equals the interest rate set
forth herein plus the percentages (if any) applicable to the lowest two ratings levels of Moody’s,
S&P and Fitch in effect immediately following the increase.

     Each adjustment required by any decrease or increase in a rating set forth above, whether
occasioned by the action of Moody’s, S&P or Fitch, shall be made independent of any and all other
adjustments. In no event shall (1) the per annum interest rate on the 7.875% Notes be re-

-5-

 

duced below the interest rate set forth herein, and (2) the total increase in the per annum
interest rate on the 7.875% Notes exceed 2.00% above the interest rate set forth herein.

     If any two of Moody’s, S&P or Fitch ceases to provide a rating of the 7.875% Notes, any
subsequent increase or decrease in the interest rate of the 7.875% Notes necessitated by a
reduction or increase in the rating by the agency continuing to provide the rating shall be twice
the percentage set forth in the applicable table above.

     No adjustments in the interest rate of the 7.875% Notes shall be made solely as a result of
Moody’s, S&P or Fitch ceasing to provide a rating. If all of Moody’s, S&P and Fitch cease to
provide a rating of the 7.875% Notes, the interest rate on the 7.875% Notes will increase to, or
remain at, as the case may be, 2.00% above the interest rate payable on the 7.875% Notes on the
date of their issuance.

     Any interest rate increase or decrease described above will take effect from the first
Business Day of the interest period during which a rating change requires an adjustment in the
interest rate. If any of Moody’s, S&P or Fitch changes its rating of the 7.875% Notes more than
once during any particular interest period, the last such change to occur will control in the event
of a conflict.

     The interest rate on the 7.875% Notes will permanently cease to be subject to any adjustment
described above (notwithstanding any subsequent decrease in the ratings by either or both rating
agencies) if the 7.875% Notes become rated A3, A- or A- or higher by any two of Moody’s, S&P and
Fitch, respectively (or one of these ratings if only rated by one rating agency), with a stable or
positive outlook by both such rating agencies.

     Promptly after any change in the interest rate on the 7.875% Notes as provided above, the
Company shall notify the Trustee in writing that (i) the effective date the interest rate on the
7.875% Notes has changed in accordance with this Section 1.4; (ii) the amount of the related
increase or decrease; and (iii) the new interest rate on the 7.875% Notes.

     SECTION 1.5 Payment of Additional Amount by a Foreign Successor Issuer. All payments made under or with
respect to the 7.875% Notes by any Foreign Successor Issuer will be made free and clear of and
without withholding or deduction for or on account of any present or future tax, duty, levy,
impost, assessment or other governmental charge (including related penalties and interest) of
whatever nature (collectively, “Taxes”) imposed or levied by or on behalf of any jurisdiction in
which such Foreign Successor Issuer is organized or resident for tax purposes or from or through
which such Foreign Successor Issuer makes any payment on the 7.875% Notes or any department or
political subdivision thereof (each, a “Relevant Taxing Jurisdiction”), unless such Foreign
Successor Issuer is required by law to withhold or deduct Taxes. If a Foreign Successor Issuer is
required by law to withhold or deduct any amount for or on account of Taxes of a Relevant Taxing
Jurisdiction from any payment made under or with respect to the 7.875% Notes, the Foreign Successor
Issuer, subject to the exceptions listed below, will pay additional amounts (“Additional Amounts”)
as may be necessary to ensure that the net amount received by each Holder of the 7.875% Notes after
such withholding or deduction (including withholding or deduction attributable to Additional
Amounts payable hereunder) will not

-6-

 

be less than the amount the Holder would have received if such Taxes had not been withheld or
deducted.

     A Foreign Successor Issuer will not, however, pay Additional Amounts to a Holder or beneficial
owner of 7.875% Notes:

     (a) to the extent the Taxes giving rise to such Additional Amounts would not have been imposed
but for any present or former connection of the Holder or beneficial owner with the Relevant Taxing
Jurisdiction (other than a connection resulting solely from the ownership of 7.875% Notes);

     (b) to the extent the Taxes giving rise to such Additional Amounts would not have been imposed
but for the failure of the Holder or beneficial owner of 7.875% Notes, following the Foreign
Successor Issuer’s written request (or other applicable withholding agent’s request) addressed to
the Holder, to the extent such Holder or beneficial owner is legally eligible to do so, to comply
with any certification, identification, information or other reporting requirements, whether
required by statute, treaty, regulation or administrative practice of a Relevant Taxing
Jurisdiction, as a precondition to exemption from, or reduction in the rate of deduction or
withholding of, Taxes imposed by the Relevant Taxing Jurisdiction (including, without limitation, a
certification that the Holder or beneficial owner is not resident in the Relevant Taxing
Jurisdiction);

     (c) with respect to any estate, inheritance, gift, sales, use, transfer, value added, personal
property, excise or any similar Taxes;

     (d) if such Holder of 7.875% Notes is a fiduciary or partnership or person other than the sole
beneficial owner of such payment, to the extent the Taxes giving rise to such Additional Amounts
would not have been imposed on such payment had the Holder been the beneficiary, partner or sole
beneficial owner, as the case may be, of such note;

     (e) to the extent the Taxes giving rise to such Additional Amounts would not have been imposed
but for the presentation by the Holder of any note, where presentation is required, for payment on
a date more than 30 days after the date on which payment became due and payable or the date on
which payment thereof is duly provided for, whichever occurs later;

     (f) with respect to any withholding or deduction that is imposed on a payment to an individual
and that is required to be made pursuant to the European Council Directive on the taxation of
savings income that was adopted by the ECOFIN Council on June 3, 2003 or any law implementing or
complying with, or introduced in order to conform to, such directive (the “EU Savings Tax
Directive”) or is required to be made pursuant to the Agreement between the European Community and
the Swiss Confederation dated October 26, 2004 providing for measures equivalent to those laid down
in the EU Savings Tax Directive (the “EU-Swiss Savings Tax Agreement”) or any law or other
governmental regulation implementing or complying with, or introduced in order to conform to, such
agreements;

     (g) to the extent the Taxes giving rise to such Additional Amounts would not have been imposed
if the 7.875% Notes were presented for payment in another jurisdiction within the European Union;

-7-

 

     (h) with respect to any Tax imposed by the United States, any state thereof or the District of
Columbia;

     (i) with respect to any Tax that is payable other than by withholding or deduction at source;
or

     (j) any combination of items (a), (b), (c), (d), (e), (f), (g), (h) and (i) above.

     A Foreign Successor Issuer will (i) make any such withholding or deduction required by law to
be made by such Foreign Successor Issuer and (ii) remit the full amount deducted or withheld to the
relevant authority in accordance with applicable law. The Foreign Successor Issuer will make
reasonable efforts to obtain certified copies of tax receipts evidencing any payment by the Foreign
Successor Issuer of any Taxes so deducted or withheld from each Relevant Taxing Jurisdiction
imposing such Taxes. The Foreign Successor Issuer will provide to the Trustee, within a reasonable
time after the date the payment of any Taxes so deducted or withheld is due pursuant to applicable
law, either a certified copy of tax receipts evidencing such payment, or, if such tax receipts are
not reasonably available to the Foreign Successor Issuer, such other documentation that provides
reasonable evidence of such payment by the Foreign Successor Issuer.

     At least 30 calendar days prior to each date on which any payment under or with respect to the
7.875% Notes is due and payable, if the Foreign Successor Issuer will be obligated to pay
Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts
arises after the 40th day prior to the date on which payment under or with respect to the 7.875%
Notes is due and payable, in which case it will be promptly thereafter), the Foreign Successor
Issuer will deliver to the Trustee an Officers’ Certificate stating that such Additional Amounts
will be payable and the amounts so payable and will set forth such other information necessary to
enable the Trustee to pay such Additional Amounts to Holders of the 7.875% Notes on the payment
date. The Foreign Successor Issuer will promptly publish a notice in accordance Article 10 of the
Original Indenture stating that such Additional Amounts will be payable and describing the
obligation to pay such amounts.

The obligations described under this Section 1.5 will survive any termination, defeasance or
discharge of the Indenture and will apply mutatis mutandis to any successor to any Foreign
Successor Issuer which successor is organized in Bermuda, Canada, a European Union Member State or
Switzerland, and, subject to the exceptions described above, to any Taxes imposed by any
jurisdiction in which such successor is organized or is resident for tax purposes or any
jurisdiction from or through which payment is made by such successor or any department or political
subdivision thereof. Whenever this Indenture refers to, in any context, the payment of principal,
premium, if any, interest or any other amount payable under or with respect to any 7.875% Note,
such reference includes the payment of Additional Amounts as described hereunder, if applicable.

     SECTION 1.6 Denominations. The 7.875% Notes may be issued in denominations of $2,000 each or integral
multiplies of $1,000 thereof or any integral multiple thereof.

-8-

 

     SECTION 1.7 Global Securities. The 7.875% Notes will initially be issued in the form of one or more Global
Securities registered in the name of the Depositary (which initially shall be The Depository Trust
Company) or its nominee. Except under the limited circumstances described below, 7.875% Notes
represented by such Global Security or Global Securities will not be exchangeable for, and will not
otherwise be issuable as, 7.875% Notes in definitive form. The Global Securities described above
may not be transferred except 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 to a successor Depositary
or its nominee.

     A Global Security shall be exchangeable for 7.875% Notes registered in the names of the
persons other than the Depositary or its nominee only if (i) the Depositary notifies the Company
that it is unwilling or unable to continue as a Depositary for such Global Security and no
successor Depositary shall have been appointed by the Company within 90 days of receipt by the
Company of such notification, (ii) the Company decides to discontinue use of the system of
book-entry transfer through the Depositary (or any successor Depositary), or (iii) an Event of
Default under the Indenture with respect to the 7.875% Notes represented by such Global Security
shall have occurred and be continuing. Any Global Security that is exchangeable pursuant to the
preceding sentence shall be exchangeable for 7.875% Notes in certificated form, bearing interest at
the same rate, having the same date of issuance, redemption provisions, Stated Maturity and other
terms and of differing denominations aggregating a like amount. Such definitive 7.875% Notes shall
be registered in the names of the owners of the beneficial interests in such Global Security as
such names are from time to time provided by the relevant participants in the Depositary holding
such Global Security (as such participants are identified from time to time by such Depositary).

     If at any time the Depositary for the 7.875% Notes notifies the Company that it is unwilling
or unable to continue as Depositary for the 7.875% Notes or if at any time the Depositary for the
7.875% Notes shall no longer be eligible under this Section 1.7 or any of the provisions of Article
Six of the Original Indenture, the Company shall appoint a successor Depositary with respect to the
7.875% Notes. If a successor Depositary for the 7.875% Notes is not appointed by the Company within
90 days after the Company receives such notice or becomes aware of such ineligibility, the Company
will execute, and the Trustee, upon receipt of an Issuer Order for the authentication and delivery
of 7.875% Notes in certificated form, will authenticate and deliver 7.875% Notes in certificated
form in an aggregate principal amount equal to the principal amount of the Global Security or
Securities representing such 7.875% Notes in exchange for such Global Security or Securities.

     Any Global Security that is exchangeable pursuant to this Section 1.7 shall be exchangeable
for 7.875% Notes issuable in denominations of $2,000 and integral multiples of $1,000 in excess
thereof and registered in such names as the Depositary that is the Holder of such Global Security
shall direct.

     In the event that a Global Security is surrendered for redemption in part pursuant to the
Indenture, the Company shall execute, and the Trustee shall authenticate and deliver to the
Depositary for such Global Security, without service charge, a new Global Security in a
denomination equal to and in exchange for the unredeemed portion of the principal of the Global
Security so surrendered.

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     Members of, or participants in, a Depositary (“Agent Members”) shall have no rights under the
Indenture with respect to any Global Security held on their behalf by a Depositary, and such
Depositary may be treated by the Company, the Trustee and any agent of the Company or the Trustee
as the owner of such Global Security for all purposes whatsoever. Notwithstanding the foregoing,
nothing herein shall prevent the Company, the Trustee or any agent of the Company or the Trustee,
form giving effect to any written certification, proxy or other authorization furnished by a
Depositary or impair, as between a Depositary and its Agent Members, the operation of customary
practices governing the exercise of the rights of a Holder of the 7.875% Notes, including without
limitation the granting of proxies or other authorization of participants to give or take any
request, demand, authorization of participants to give or take any request, demand, authorization,
direction, notice, consent, waiver or other action which a Holder is entitled to give or take under
the Indenture.

     SECTION 1.8 Redemption; No Sinking Fund. The 7.875% Notes may be redeemed in whole at any time or in part from
time to time, at the Company’s option, at a redemption price equal to the greater of:

	 	•	 	100% of the principal amount of the 7.875% Notes then outstanding to be
redeemed; or

	 	•	 	the sum of the present values of the remaining scheduled payments of principal
and interest on the 7.875% Notes to be redeemed (not including any portion of such
payments of interest accrued to the date of redemption) discounted to the date of
redemption on a semiannual basis (assuming a 360-day year consisting of twelve
30-day months) at the applicable Treasury Rate plus 50 basis points,

plus, in each case, accrued and unpaid interest on the principal amount being redeemed to the
redemption date.

     The 7.875% Notes are not repayable at the option of any Holder thereof prior to the Stated
Maturity of the principal thereof.

     The 7.875% Notes shall not have a sinking fund.

     The provisions of Article Ten of the Original Indenture shall govern any redemption of the
7.875% Notes pursuant to this Section 1.8.

     SECTION 1.9 Tax Redemption. If, as a result of: (a) any amendment to, or change in, the laws or treaties (or
regulations or rulings promulgated thereunder) of any Relevant Taxing Jurisdiction which is
announced and becomes effective after the date on which a Foreign Successor Issuer becomes a
Foreign Successor Issuer (or, where a jurisdiction in question does not become a Relevant Taxing
Jurisdiction until a later date, such later date); or (b) any amendment to, or change in, the
official application or official interpretation of the laws, treaties, regulations or rulings of
any Relevant Taxing Jurisdiction which is announced and becomes effective after the date on which a
Foreign Successor Issuer becomes a Foreign Successor Issuer (or, where a jurisdiction in question
does not become a Relevant Taxing Jurisdiction until a later date, such later date), such Foreign
Successor Issuer would be obligated to pay, on the next date for any payment

-10-

 

and as a result of that amendment or change, Additional Amounts as described in Section 1.5 with
respect to the Relevant Taxing Jurisdiction, which such Foreign Successor Issuer reasonably
determines it cannot avoid by the use of reasonable measures available to it, then such Foreign
Successor Issuer 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 of 100% of their principal
amount, plus accrued and unpaid interest, if any, to the redemption date.

     Prior to the giving of any notice of redemption described in this paragraph, a Foreign
Successor Issuer will deliver to the Trustee:

     (a) a certificate signed by an officer of such Foreign Successor Issuer stating that the
obligation to pay the Additional Amounts cannot be avoided by such Foreign Successor Issuer’s
taking reasonable measures available to it; and

     (b) a written opinion of independent legal counsel to such Foreign Successor Issuer of
recognized standing to the effect that such Foreign Successor Issuer has or will become obligated
to pay such Additional Amounts as a result of a change, amendment, official interpretation or
application described above.

     The provisions of Article Ten of the Original Indenture shall govern any redemption of the
7.875% Notes pursuant to this Section 1.9. No notice of redemption may be given by a Foreign
Successor Issuer more than 60 days before such Foreign Successor Issuer first becomes liable to pay
any Additional Amounts.

     SECTION 1.10 Paying Agent. The Trustee shall initially serve as Paying Agent with respect to the 7.875%
Notes, with the Place of Payment initially being the corporate trust facility of the Trustee
located at U.S. Bank National Association, Corporate Trust Services, 100 Wall Street Suite 1600,
New York, New York 10005.

ARTICLE II

Event of Default

     SECTION 2.1 Event of Default. Section 501 of the Original Indenture is hereby amended in its entirety with
respect to the 7.875% Notes, to read as follows:

     “Event of Default” (except as otherwise specified or contemplated by Section 301 for
Securities of any series) wherever used herein with respect to 7.875% Notes, means any one of the
following events:

     (1) default in the payment of the principal amount or redemption price of any 7.875%
Note at its Maturity; or

     (2) default in the payment of any accrued and unpaid interest upon any 7.875% Note when
it becomes due and payable, and continuance of such default for a period of 60 days; or

-11-

 

     (3) default in the performance, or breach, of any covenant or warranty of the Company
in this Indenture (other than a covenant or warranty a default in whole performance or whose
breach is elsewhere in this section specifically dealt with or which has expressly been
included in this Indenture solely for the benefit of series of Securities other than the
7.875% Notes) for a period of 60 days after there has been given, and continuance of such by
registered or certified mail, to the Company by the Trustee by the Holders of at least 25%
in principal amount of the Outstanding Securities a written notice specifying such default
or breach and requiring it to be remedied and stating that such notice is a “Notice of
Default” hereunder;

     (4) the entry by a court having jurisdiction in the premises of (A) a decree or order
for relief in respect of the Company in an involuntary case or proceeding under any
applicable bankruptcy, insolvency, reorganization or other similar law or (B) a decree or
order adjudging the Company bankrupt or insolvent, or approving as properly filed a petition
seeking reorganization, arrangement, adjustment or composition of or in respect of the
Company under any applicable law, or appointing a custodian, receiver, liquidator, assignee,
trustee, sequestrator or other similar official of the Company or of any substantial part of
its property, or ordering the winding up or liquidation of its affairs, and the continuance
of any such decree or order for relief or any such other decree or order unstayed and in
effect for a period of 60 consecutive days; or

     (5) the commencement by the Company of a voluntary case or proceeding under any
applicable bankruptcy, insolvency, reorganization or other similar law or of any other case
or proceeding to be adjudicated a bankrupt or insolvent, or the consent by it to the entry
of a decree or order for relief in respect of the Company in an involuntary case or
proceeding under any applicable bankruptcy, insolvency, reorganization, or other similar law
or to the commencement of any bankruptcy or insolvency case or proceeding against it, or the
filing by it of a petition or answer or consent seeking reorganization or relief under any
applicable law, or the consent by it to the filing of such petition or to the appointment of
or taking possession by a custodian, receiver, liquidator, assignee, trustee, sequestrator
or similar official of the Company or of any substantial part of its property, or the making
by it of an assignment for the benefit of creditors, or the admission by it in writing of
its inability to pay its debts generally as they become due and its willingness to have a
case commenced against it to seek an order for relief under any applicable bankruptcy,
insolvency or other similar law or the taking of corporate action by the Company in
furtherance of any such action; or

     (6) default under any other debenture, note or other evidence of indebtedness of the
Company issued under this Indenture, the Company’s senior indenture relating to the
Company’s 2033 Senior Notes or the Company’s subordinated indenture relating to the
Company’s 2007 Junior Debentures, whether such indebtedness now exists or is hereafter
created, which default involves the failure to pay principal on indebtedness at the final
maturity thereof after the expiration of any applicable grace period with respect thereto or
which has resulted in indebtedness becoming or being declared due and payable prior to the
date on which it would otherwise become due and payable unless the repayment is discharged
or such acceleration is cured, waived, rescinded or annulled within 10 days after written
notice thereof shall have been given by registered or certified mail,

-12-

 

return receipt requested, to the Issuer by the Trustee or to the Issuer and the Trustee
by the Holders of at least 25% in aggregate principal amount of the Outstanding Securities
of each series which notice shall state that it is a “Notice of Default” hereunder.

ARTICLE III

Covenants

     SECTION 3.1 Company May Consolidate, Etc. Only on Certain Terms.

     (a) Subject to Section 3.1(c), the Company shall not consolidate with or merge into any other
Person or convey, transfer or lease its properties and assets substantially as an entirety to any
Person, and the Company shall not permit any Person to consolidate with or merge into the Company,
unless:

     (1) the Company is the surviving corporation in a merger or consolidation; or

     (2) in case the Company shall consolidate with or merge into another Person or convey,
transfer or lease its properties and assets substantially as an entirety to any Person: the
Person formed by such consolidation or into which the Company is merged or the Person which
acquires by conveyance or transfer, or which leases, the properties and assets of the
company substantially as an entirety shall be a (a) corporation, partnership or trust,
organized and validly existing under the laws of the United States of America, any State
thereof or the District of Columbia or (b) Foreign Successor Issuer and shall in each case
expressly assume, by an indenture supplemental hereto, executed and delivered to the
Trustee, the due and punctual payment of the principal and interest on all the 7.875% Notes
and the performance or observance of every covenant of this Indenture on the part of the
Company to be performed or observed, and

     (3) immediately after giving effect to such transaction, no Event of Default, and no
event which, after notice or lapse of time or both, would become an Event of Default, shall
have happened and be continuing; and

     (4) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that such consolidation, merger, conveyance, transfer or lease and, if
a supplemental indenture is required in connection with such transaction, such supplemental
indenture comply with this Article and that all conditions precedent herein provided for
relating to such transaction have been complied with.

     (b) Subject to Section 3.1(c), any indebtedness which becomes an obligation of the Company or
any Subsidiary as a result of any such transaction shall be treated as having been incurred by the
Company or such Subsidiary at the time of such transaction.

     (c) The provisions of Section 3.1(a) and (b) shall not be applicable to:

     (1) the direct or indirect conveyance, transfer or lease of all or any portion of the
stock, assets or liabilities of any of the Company’s wholly owned Subsidiaries to the
Company or to other wholly owned Subsidiaries of the Company; or

-13-

 

     (2) any recapitalization transaction, a change of control of the Company or a highly
leveraged transaction unless such transaction or change of control is structured to include
the merger of the Company into, or consolidation by the Company with, another Person or
conveyance, or transfer or lease of the Company’s properties and assets substantially as an
entirety.

     SECTION 3.2 Successor Substituted. Upon any consolidation of the Company with, or merger of the Company into,
any other Person or any conveyance, transfer or lease of the properties and assets of the Company
substantially as an entirety in accordance with Section 3.1, the successor Person formed by such
consolidation or into which the Company is merged or to which such conveyance, transfer or lease is
made shall succeed to, and be substituted for, and may exercise every right and power of, the
Company under this Indenture and any supplemental indenture hereto pursuant to Section 3.1(a)(4)
with the same effect as if such successor Person had been named as the Company herein, and
thereafter, except in the case of a lease, the predecessor Person shall be relieved of all
obligations and covenants under the Original Indenture and this First Supplemental Indenture with
respect to the 7.875% Notes.

     SECTION 3.3 Limitation on Liens. Neither the Company nor any Restricted Subsidiaries may use any voting stock
of a Restricted Subsidiary as security for any debt of the Company or other obligations unless all
of the 7.875% Notes are secured to the same extent as and for so long as that debt or other
obligation is so secured, provided, however that such restriction shall not apply to liens existing
at the time a Person becomes a Restricted Subsidiary or any renewal or extension of any such liens.

ARTICLE IV

Miscellaneous Provisions

     SECTION 4.1 Recitals by Company. The recitals in this First Supplemental Indenture are made by the Company only
and not by the Trustee, and shall be taken as the statements of the Company and the Trustee assumes
no responsibility for their correctness. The Trustee shall not be responsible in any manner
whatsoever for, or in respect of, and makes no representations as to, the validity or sufficiency
of this First Supplemental Indenture. All of the provisions contained in the Original Indenture in
respect of the rights, privileges, immunities, powers and duties of the Trustee shall be applicable
in respect of the 7.875% Notes and of this First Supplemental Indenture as fully and with like
effect as if set forth herein in full.

     SECTION 4.2 Ratification and Incorporation of Original Indenture. As supplemented hereby, the Original
Indenture is in all respects ratified and confirmed, and the Original Indenture and this First
Supplemental Indenture shall be read, taken and construed as one and the same instrument.

     SECTION 4.3 Governing Law. As provided in Section 112 of the Original Indenture, this First Supplemental
Indenture shall be construed under the laws of the State of New York, without regard to conflicts
of laws principles thereof.

-14-

 

     SECTION 4.4 Executed in Counterparts. This First Supplemental Indenture may be executed in several
counterparts, each of which shall be deemed to be an original, and such counterparts shall together
constitute but one and the same instrument.

-15-

 

     IN WITNESS WHEREOF, each party hereto has caused this instrument to be signed in its name and
behalf by its duly authorized officers, all as of the day and year first above written.

	 	 	 	 	 
	 	DELPHI FINANCIAL GROUP, INC.

 	 
	 	By:  	/s/ Chad W. Coulter
 	 
	 	 	Name:  	Chad W. Coulter 	 
	 	 	Title:  	Sr. Vice President, Secretary and General
Counsel 	 
	 
	 	U.S. BANK NATIONAL ASSOCIATION,

as Trustee

 	 
	 	By:  	/s/ Michelle Mena
 	 
	 	 	Name:  	Michelle Mena 	 
	 	 	Title:  	Vice President 	 

-16-

 

	 	 	 	 	 

EXHIBIT A

FORM OF NOTE

     UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR THE INDIVIDUAL SECURITIES REPRESENTED
HEREBY, THIS GLOBAL SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE (I) BY THE DEPOSITARY TO A
NOMINEE OF THE DEPOSITARY OR (II) BY A NOMINEE OF THE DEPOSITARY OR THE DEPOSITARY 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 WATER STREET, NEW YORK, NEW YORK) TO
THE ISSUER 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 REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE & CO., ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE
REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

     This Security is a Global Security within the meaning of the Indenture hereinafter referred to
and is registered in the name of a Depositary or a nominee of a Depositary. This Security is
exchangeable for Securities registered in the name of a person other than the Depositary or its
nominee only in the limited circumstances described in the Indenture, and no transfer of this
Security (other than a transfer of this Security 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) may be registered except in limited circumstances.

     Unless this Security is presented by an authorized representative of The Depository Trust
Company (55 Water Street, New York, New York) to the issuer or its agent for registration of
transfer, exchange or payment, and any Security issued is registered in the name of Cede & Co. or
such other name as requested by an authorized representative of The Depository Trust Company and
any payment hereon is made to Cede & Co. or such other name as requested by an authorized
representative of The Depository Trust Company. ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY A PERSON IS WRONGFUL since the registered owner hereof, Cede & Co., has an interest
herein.

A-1 

 

Certificate No.                     

CUSIP No.

DELPHI FINANCIAL GROUP, INC.

7.875% SENIOR NOTE DUE 2020

     DELPHI FINANCIAL GROUP, INC., a Delaware corporation (the “Company,” which term includes any
successor corporation under the Indenture hereinafter referred to), for value received, hereby
promises to pay to CEDE & CO. or registered assigns, the principal sum of [          ] ($[      ]) on
January 31, 2020, and to pay interest on the outstanding principal amount thereon from
January 20, 2010, or from the immediately preceding interest payment date, on January 31 and July
31 of each year (each such date, an “Interest Payment Date”), to which interest has been paid or
duly provided for. Interest shall be paid semi-annually in arrears on each Interest Payment Date,
beginning July 31, 2010, at the rate of 7.875% per annum, or as may be adjusted pursuant to the
terms hereof, until the entire principal hereof shall have become due and payable and, until the
principal hereof is paid or duly provided for or made available for payment. The amount of interest
payable on this security shall be computed on the basis of a 360-day year of twelve 30-day months.

     In the event that any date on which interest is payable on this Security is not a Business
Day, then payment of interest payable on such date will be made on the next succeeding day that is
a Business Day (and without any interest or other payment in respect of any such delay), except
that if such next Business Day is in the next succeeding calendar year, such payment shall be made
on the immediately preceding Business Day, in each case with the same force and effect as if made
on the date the payment was originally payable. A “Business Day” shall mean a day that in the City
of New York or in any place of payment is not a day on which banking institutions are authorized by
law or regulations to close. The interest installment so payable, and punctually paid or duly
provided for, on any Interest Payment Date will, as provided in the Indenture, be paid to the
Person in whose name this Security (or one or more Predecessor Securities) is registered at the
close of business on the first day of the month in which an Interest Payment Date occurs (a
“Regular Record Date”). Any such interest installment not punctually paid or duly provided for
shall forthwith cease to be payable to the registered Holder on such Regular Record Date and may
either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is
registered at the close of business on a Special Record Date to be fixed by the Trustee for the
payment of such Defaulted Interest, notice whereof shall be given to the Holder of this Security
not more than 15 or less than 10 days prior to such Special Record Date, or be paid at any time in
any other lawful manner not inconsistent with the requirements of any securities exchange on which
this Security may be listed, and upon such notice as may be required by such exchange, all as more
fully provided in the Indenture.

     The principal of and the interest on this Security shall be payable at the office of the
Paying Agent 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; provided, however, that payment of interest
may be made at the option of the Company by check mailed to the registered Holder at such address
as shall appear in the Security Register. Payment in respect of the Securities represented as

A-2 

 

Global Securities (including principal and interest) will be made by wire transfer of
immediately available funds to the accounts specified by the Person entitled thereto. All payments
of principal and interest hereunder shall be made in immediately available funds.

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

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

     IN WITNESS WHEREOF, the Company has caused this instrument to be executed.

DELPHI FINANCIAL GROUP, INC.

	 	 	 	 	 
	 	 	 
	By:  	 	 	 
	 	Name:  	 	 	 
	 	Title:  	 	 	 
	 
	Attest:

 	 	 
	By:  	 	 	 
	 	Name:  	 	 	 
	 	Title:  	 	 	 

A-3 

 

[Certificate of Authentication]

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

Date:

	 	 	 	 	 
	 	U.S. BANK NATIONAL ASSOCIATION,
as Trustee

 	 
	 	By:  	
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 

A-4

 

	 	 	 	 	 

(FORM OF REVERSE OF SECURITY)

1. Interest; Interest Rate Adjustment

The Company promises to pay interest on the principal amount of this 7.875% Note at the rate per
annum shown above, as may be adjusted as set forth below. The Company will pay interest
semiannually on January 31 and July 31 of each year, beginning July 31, 2010. Interest on the
7.875% Notes will accrue from the most recent date to which interest has been paid or, if no
interest has been paid, from January 20, 2010. Interest will be computed on the basis of a 360-day
year of twelve 30-day months.

The interest rate payable on the 7.875% Notes will be subject to adjustments from time to time if
any of Moody’s, S&P or Fitch downgrades (or subsequently upgrades) the debt rating assigned to the
Notes, as set forth below.

If the rating on the 7.875% Notes from Moody’s, S&P, or Fitch, is a rating set forth in the
immediately following table, the per annum interest rate on the 7.875% Notes will increase from
that set forth herein by the percentage set forth opposite that rating; however, for this purpose,
only the two lowest of the rating levels of Moody’s, S&P and Fitch shall be taken into account:

	 	 	 	 	 	 	 	 	 	 	 
	Rating	 	                Rating Agency                	 	 	 
	Levels	 	Moody’s	 	S&P	 	Fitch	 	Percentage	 
	1
	 	Ba1	 	BB+	 	BB+	 	 	0.25%	
	2
	 	Ba2	 	BB	 	BB	 	 	0.50%	
	3
	 	Ba3	 	BB-	 	BB-	 	 	0.75%	
	4
	 	B1 or below	 	B+ or below	 	B+ or below	 	 	1.00%	

If any of Moody’s, S&P or Fitch subsequently increases its rating with respect to the 7.875% Notes
to or above any of the threshold ratings set forth above, the per annum interest rate on such
7.875% Notes will be decreased such that the per annum interest rate equals the interest rate set
forth herein plus the percentages (if any) applicable to the lowest two ratings levels of Moody’s,
S&P and Fitch in effect immediately following the increase.

Each adjustment required by any decrease or increase in a rating set forth above, whether
occasioned by the action of Moody’s, S&P or Fitch, shall be made independent of any and all other
adjustments. In no event shall (1) the per annum interest rate on the 7.875% Notes be reduced below
the interest rate set forth herein, and (2) the total increase in the per annum interest rate on
the 7.875% Notes exceed 2.00% above the interest rate set forth herein.

If any two of Moody’s, S&P or Fitch ceases to provide a rating of the 7.875% Notes, any subsequent
increase or decrease in the interest rate of the 7.875% Notes necessitated by a reduction or
increase in the rating by the agency continuing to provide the rating shall be twice the percentage
set forth in the applicable table above.

A-5

 

No adjustments in the interest rate of the 7.875% Notes shall be made solely as a result of
Moody’s, S&P or Fitch ceasing to provide a rating. If all of Moody’s, S&P and Fitch cease to
provide a rating of the 7.875% Notes, the interest rate on the 7.875% Notes will increase to, or
remain at, as the case may be, 2.00% above the interest rate payable on the 7.875% Notes on the
date of their issuance.

Any interest rate increase or decrease described above will take effect from the first Business Day
of the interest period during which a rating change requires an adjustment in the interest rate. If
any of Moody’s, S&P or Fitch changes its rating of the 7.875% Notes more than once during any
particular interest period, the last such change to occur will control in the event of a conflict.

The interest rate on the 7.875% Notes will permanently cease to be subject to any adjustment
described above (notwithstanding any subsequent decrease in the ratings by either or both rating
agencies) if the 7.875% Notes become rated A3, A- or A- or higher by any two of Moody’s, S&P and
Fitch, respectively (or one of these ratings if only rated by one rating agency), with a stable or
positive outlook by both such rating agencies.

Promptly after any change in the interest rate on the 7.875% Notes as provided above, the Company
shall notify the Trustee in writing that (i) the effective date the interest rate on the 7.875%
Notes has changed in accordance with this Section 1.4; (ii) the amount of the related increase or
decrease; and (iii) the new interest rate on the 7.875% Notes.

2. Method of Payment

The Company will pay interest on the Securities (except defaulted interest) to the persons who are
registered Holders of Securities at the close of business on the first day of the month in which a
relevant interest payment date occurs. Holders must surrender Securities to a Paying Agent to
collect principal payments. The Company will pay principal and interest in money of the United
States that at the time of payment is legal tender for payment of public and private debts. The
Company may, however, pay principal and interest by check payable in such money. It may mail an
interest check to a Holder’s registered address.

3. Paying Agent and Registrar.

Initially, U.S. Bank National Association, as Trustee (the “Trustee”), will act as Paying Agent and
Registrar. The Company may change any Paying Agent and Registrar. The Company may change any Paying
Agent, Registrar or co-Registrar without notice. The Company or any of its subsidiaries may act as
Paying Agent, Registrar or Co-Registrar.

4. Indenture; Supplemental Indenture.

The Company issued the Securities of this series under an Indenture dated as of January 20, 2010
(the “Indenture”) between the Company and the Trustee. The Securities of this series are unsecured
general obligations of the Company limited in aggregate principal amount to $250,000,000. The
Indenture does not limit other unsecured debt. The terms of the Securities include those stated in
the Indenture, those stated in a Supplemental Indenture (the “Supplemental Indenture”) creating the
series and those made part of the Indenture by reference to the Trust In-

A-6

 

denture Act of 1939, as amended and as in effect on the date of the Indenture. The Securities are
subject to all such terms, and Holders are referred to the Indenture or Supplemental Indenture and
such Act for a statement of them. All capitalized terms used herein and not otherwise defined
shall have the meanings ascribed to them in the Indenture as supplemented by the Supplemental
Indenture.

5. Optional Redemption.

The Company may redeem the 7.875% Notes in whole at any time or in part from time to time at the
Company’s option at a redemption price equal to the greater of:

	 	•	 	100% of the principal amount of the 7.875% Notes then outstanding to be
redeemed; or
	 
	 	•	 	the sum of the present values of the remaining scheduled payments of principal
and interest on the 7.875% Notes to be redeemed (not including any portion of such
payments of interest accrued to the date of redemption) discounted to the date of
redemption on a semiannual basis (assuming a 360-day year consisting of twelve
30-day months) at the applicable Treasury Rate plus 50 basis points,

plus, in each case, accrued and unpaid interest on the principal amount being redeemed to the
redemption date.

     “Comparable Treasury Issue” means the U.S. Treasury security selected by the Independent
Investment Banker as having a maturity comparable to the remaining term (“remaining life”) of the
7.875% Notes to be redeemed that would be utilized, at the time of selection and in accordance with
customary financial practice, in pricing new issues of corporate debt securities of comparable
maturity to the remaining life.

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

     “Independent Investment Banker” means Banc of America Securities LLC or Wells Fargo
Securities, LLC, as specified by the Company, or, if these firms are unwilling or unable to select
the Comparable Treasury Issue, an independent investment banking institution of national standing
appointed by the Company.

     “Reference Treasury Dealer” means (1) Banc of America Securities LLC and a primary treasury
dealer (as defined below) selected by Wells Fargo Securities, LLC and their respective successors;
provided, however, that if any of the foregoing shall cease to be a primary U.S. government
securities dealer in New York City (a “primary treasury dealer”), the Company will substitute
therefor another primary treasury dealer and (2) any three other primary treasury dealers selected
by the Company after consultation with the Independent Investment Banker.

A-7

 

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

     “Treasury Rate” means, with respect to any redemption date:

	 	•	 	the yield to maturity, under the heading which represents the average for the
calendar week immediately preceding the date of calculation, as compiled and
published in the most recently published statistical release designated
“H.15(519)” that has become publicly available for at least three business days
prior to such redemption date, or any successor publication which is published
weekly by the Board of Governors of the Federal Reserve System and which
establishes yields on actively traded U.S. Treasury securities adjusted to
constant maturity under the caption “Treasury Constant Maturities,” for the
maturity corresponding to the Comparable Treasury Issue (if no maturity is within
three months before or after the remaining life (as defined below), yields for the
two published maturities most closely corresponding to the Comparable Treasury
Issue will be determined and the Treasury Rate will be interpolated or
extrapolated from such yields on a straight line basis, rounding to the nearest
one-twelfth of a year); or
	 
	 	•	 	if such release (or any successor release) is not published during the week
immediately preceding the date of calculation or does not contain such yields, the
rate per annum equal to the semiannual equivalent yield to maturity of the
Comparable Treasury Issue, calculated using a price for the Comparable Treasury
Issue (expressed as a percentage of its principal amount) equal to the Comparable
Treasury Price for such redemption date.

6. 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 of Securities to be redeemed at his or her registered address. All
notices of redemption shall state the redemption date, the redemption price and any accrued
interest, the identification of the particular Securities (if less than all the outstanding 7.875%
Notes are to be redeemed) to be redeemed, that on the redemption date the redemption price and any
accrued interest will become due and payable upon each such 7.875% Note, and other details
regarding the redemption.

7. Denominations, Transfer, Exchange.

The Securities are in registered form without coupons in denominations of $2,000 and integral
multiples of $1,000 in excess thereof. A Holder may transfer or exchange Securities in accordance
with the Indenture. The Security Registrar may require a Holder, among other things, to furnish
appropriate endorsements and transfer documents and to pay any taxes and fees required by law or
permitted by the Indenture. The Security Registrar need not transfer or exchange any Securities for
a period 15 days before the day of the mailing of a notice of redemption of Securi-

A-8

 

ties to be redeemed or transfer or exchange any Securities or portions of them selected for
redemption.

8. Persons Deemed Owners.

The registered Holder of a Security may be treated as its owner for all purposes.

9. Amendment, Supplement, Waiver.

Subject to certain exceptions, the Indenture or the Securities may be amended or supplemented by
the Company with the consent of the Holders of at least a majority in principal amount of the
Securities of all series affected by the amendment, and any past default on a series or compliance
with any provision may be waived with the consent of the Holders of a majority in principal of the
Securities of the series. Without the consent of any Holder, the Company may amend or supplement
the Indenture or the Securities to cure any ambiguity, defect or inconsistency, to evidence the
succession of another corporation to the Company, to provide that specific provisions of the
Indenture will not apply to a series not previously issued, to provide for uncertificated
Securities in addition to or in place of certificated Securities, to create a series and establish
its terms, to provide for a separate Trustee for one or more series, to add to covenants of the
Company or surrender any rights or power conferred upon the Company, to evidence or provide for a
successor Trustee or to make any change that does not materially adversely affect the rights of any
Holder.

10. Defeasance Prior to Redemption or Maturity.

Subject to certain conditions, the Company at any time may terminate some or all of its obligations
under the Securities and the Indenture if the Company deposits with the Trustee money or U.S.
Government Obligations for the payment of principal and interest on the Securities to redemption or
maturity.

11. Defaults and Remedies.

An Event of Default is: default for 60 days in payment of interest on the Securities; default in
payment of principal on the Securities (at maturity, upon redemption or otherwise); failure by the
Company for 60 days after notice to it to comply with any of its other covenants, conditions or
agreements in the Indenture or the Securities; and certain events of bankruptcy or insolvency. If
an Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in
principal amount of the outstanding Securities may declare the Securities to be due and payable
immediately. Holders may not enforce the Indenture or the Securities except as provided in the
Indenture. The Trustee may require indemnity satisfactory to it before it enforces the Indenture or
the Securities. Subject to certain limitations, Holders of a majority in principal amount of the
outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee
may withhold from the notice of any continuing default (except a default in payment of principal or
interest) if its determines that withholding notice is in Holders’ interest. The Company is
required to file periodic reports with the Trustee as to the absence of default.

A-9

 

12. Authentication.

This Security shall not be valid until the Trustee manually signs the certificate of authentication
on the other side of this Security.

13. 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).

14. Requests for Copies.

The Company will furnish to any Holder upon written request and without charge a copy of the
Indenture and the Supplemental Indenture. Requests may be made to: Secretary, Delphi Financial
Group, Inc., 1105 North Market Street, Suite 1230, P.O. Box 8985, Wilmington, Delaware 19899.

A-10

 

ASSIGNMENT FORM

     If you the holder want to assign this Security, fill in the form below and have your signature
guaranteed:

I or we assign and transfer this Security to

 

 

(Insert assignee’s social security or tax ID number)

 

 

 

 

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

and irrevocably appoint

                    
                    
                    
                     agent to transfer this Security on the books of the Company. The agent maysubstitute another to act for him.

	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	Date:                                         

	 	 	 	our Signature:	 
	 
	 

	 	 	 	 	(Sign exactly as your name	 
	 

	 	 	 	 	appears on the other side of	 
	 

	 	 	 	 	this Security)	 

Signature Guarantee:
                    
                    
                    
                    

A-11

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