Document:

exv4w6

Exhibit 4.6

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS SECURITY NOR ANY
INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED
OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT
FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF,
AGREES ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED
SECURITIES, TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE “RESALE
RESTRICTION TERMINATION DATE”) THAT IS ONE YEAR AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF,
THE ORIGINAL ISSUE DATE OF THE ISSUANCE OF ANY ADDITIONAL NOTES AND THE LAST DATE ON WHICH THE
ISSUER OR ANY AFFILIATE OF THE ISSUER WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF SUCH
SECURITY), ONLY (A) TO THE COMPANY OR ANY SUBSIDIARY THEREOF, (B) PURSUANT TO A REGISTRATION
STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE
SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO
A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A THAT
PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE
IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES
TO NON-U.S. PERSONS THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER
THE SECURITIES ACT OR (E) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE COMPANY’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY
SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES (D) OR (E) TO REQUIRE THE DELIVERY OF AN OPINION
OF COUNSEL, CERTIFICATION AND/ OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM. THIS LEGEND WILL
BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE.

BY ITS ACQUISITION OF THIS SECURITY, THE HOLDER THEREOF WILL BE DEEMED TO HAVE REPRESENTED AND
WARRANTED THAT EITHER (1) NO PORTION OF THE ASSETS USED BY SUCH HOLDER TO ACQUIRE OR HOLD THIS
SECURITY CONSTITUTES THE ASSETS OF AN EMPLOYEE BENEFIT PLAN THAT IS SUBJECT TO TITLE I OF THE U.S.
EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OF A PLAN, INDIVIDUAL
RETIREMENT ACCOUNT OR OTHER ARRANGEMENT THAT IS SUBJECT TO SECTION 4975 OF THE U.S. INTERNAL
REVENUE CODE OF 1986,
AS AMENDED (THE “CODE”) OR PROVISIONS UNDER ANY OTHER FEDERAL, STATE, LOCAL, NON-U.S. OR OTHER LAWS
OR REGULATIONS THAT ARE SIMILAR TO SUCH PROVISIONS OF ERISA OR THE CODE (“SIMILAR LAWS”), OR OF AN
ENTITY WHOSE UNDERLYING ASSETS ARE CONSIDERED TO INCLUDE “PLAN ASSETS” OF ANY SUCH PLAN, ACCOUNT OR

 

 

ARRANGEMENT, OR (2) THE ACQUISITION AND HOLDING OF THIS SECURITY WILL NOT CONSTITUTE A NON-EXEMPT
PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE OR A SIMILAR
VIOLATION UNDER ANY APPLICABLE SIMILAR LAWS.

THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE REFERRED TO HEREIN. UNLESS AND
UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN CERTIFICATED FORM, THIS NOTE MAY NOT BE
TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITORY TRUST COMPANY (“DTC”) TO A NOMINEE OF DTC, OR BY A
NOMINEE OF DTC TO DTC OR ANOTHER NOMINEE OF DTC, OR BY DTC OR ANY SUCH NOMINEE TO A SUCCESSOR
DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS NOTE IS PRESENTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE
OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH
OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER
HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

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	No. 1
	 	Principal Amount $500,000,000

CUSIP No. 98419MAE0

XYLEM INC.

4.875% SENIOR NOTES DUE 2021

     XYLEM INC., an Indiana corporation (herein called the “Company”, which term includes any
successor corporation under the Indenture referred to on the reverse hereof), for value received,
hereby promises to pay to Cede & Co. or registered assigns, the principal sum of $500,000,000 on
October 1, 2021, and to pay interest on said principal sum semi-annually on April 1 and October 1
of each year, commencing April 1, 2012, at the rate of 4.875% per annum from September 20, 2011, or
from the most recent date in respect of which interest has been paid or duly provided for, until
payment of the principal sum has been made or duly provided for.

     The interest 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 Note (or one or more
Predecessor Securities) is registered at the close of business on the Record Date for such Interest
Payment Date, which shall be the March 15 or September 15 (whether or not a Business Day) next
preceding such Interest Payment Date. Any such interest that is payable but is not so punctually
paid or duly provided for shall forthwith cease to be payable to the registered Holder on such
Record Date and may either be paid to the Person in whose name this Note (or one or more
Predecessor Securities) is registered at the close of business on a Special Record Date for the
payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to
Holders of Notes not earlier than 10 days prior to such Special Record Date, or may be paid at any
time in any other lawful manner not inconsistent with the requirements of any securities exchange
on which the Notes may be listed and upon such notice as may be required by such exchange, if such
manner of payment shall be deemed practical by the Trustee, all as more fully provided in the
Indenture.

     Payment of the principal of and interest on this Note will be made at the Place of Payment in
such coin or currency of the United States as at the time of payment is legal tender for payment of
public and private debts; provided, however, that payments of interest may be made at the option of
the Company by checks mailed to the addresses of the Persons entitled thereto as such addresses
shall appear in the Security Register or by wire transfer to an account maintained by the payee of
a bank located in the United States.

     Reference is made to the further provisions of this Note set forth on the reverse hereof,
which shall have the same effect as though fully set forth at this place.

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

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     IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed by manual or
facsimile signature.

	 	 	 	 	 
	Dated: September 20, 2011 	XYLEM INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

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TRUSTEE’S CERTIFICATE OF AUTHENTICATION

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

	 	 	 	 	 
	 	UNION BANK, N.A., as Trustee

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

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REVERSE OF NOTE

XYLEM INC.

4.875% SENIOR NOTES DUE 2021

This Note is one of a duly authorized issue of debentures, notes or other evidences of indebtedness
of the Company (herein called the “Securities”), issued and to be issued in one or more series
under an Indenture, dated as of September 20, 2011 (herein called the “Indenture”), between the
Company, ITT Corporation, as Guarantor (herein called the “Guarantor”) and Union Bank, N.A., as
Trustee (herein called the “Trustee”, which term includes any successor trustee under the
Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for
a statement of the respective rights thereunder of the Company, the Guarantor, the Trustee, and the
Holders of the Securities, the terms upon which the Securities are, and are to be, authenticated
and delivered, and the definition of capitalized terms used herein and not otherwise defined
herein. The Securities may be issued in one or more series, which different series may be issued in
various aggregate principal amounts, may be denominated in different currencies, may mature at
different times, may bear interest (if any) at different rates (which rates may be fixed or
variable), may be subject to different redemption provisions (if any), may be subject to different
sinking, purchase, or analogous funds (if any), may be subject to different covenants and Events of
Default, and may otherwise vary as provided in the Indenture. This Note is one of a series of
Securities of the Company designated as set forth on the face hereof (herein called the “Notes”),
initially limited in aggregate principal amount to $500,000,000.

Optional Redemption

     The Notes shall be redeemable as a whole or in part, at the Company’s option at any time and
from time to time, at a redemption price equal to the greater of (i) 100% of the principal amount
of such Notes and (ii) the sum of the present values of the remaining scheduled payments of
principal and interest thereon (exclusive of interest accrued to the date of redemption) discounted
to the redemption date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day
months) at the Treasury Rate plus 45 basis points, plus in each case accrued and unpaid interest to
the date of redemption.

     Except as otherwise provided herein, redemption of the Notes shall be made in accordance
with the terms of Article 11 of the Indenture.

          “Treasury Rate” means the yield to maturity at the time of computation of United States
Treasury securities with a constant maturity (as compiled and published in the most recent Federal
Reserve Statistical Release H.15 (519) which has become publicly available at least two business
days prior to the date of redemption (or, if such Statistical Release is no longer published, any
publicly available source or similar market data)) most nearly equal to the period from the date of
redemption to the maturity date; provided, however, that if the period from the date of redemption
to the maturity date is
not equal to the constant maturity of a United States Treasury security for which a weekly
average yield is given, the Treasury Rate shall be

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obtained by linear interpolation (calculated to the nearest one-twelfth of a year) from the weekly
average yields of United States Treasury securities for which such yields are given, except that if
the period from the date of redemption to the maturity date is less than one year, the weekly
average yield on actually traded United States Treasury securities adjusted to a constant maturity
of one year shall be used.

Repurchase Upon Change of Control Triggering Event

     If a Change of Control Triggering Event (as defined below) occurs after the Distribution Date
(as defined in the Indenture), unless the Company has exercised its right to redeem the Notes as
described above, the Company will be required to make an offer to repurchase all or, at the
Holder’s option, any part (equal to $2,000 or any multiple of $1,000 in excess thereof), of each
Holder’s Notes pursuant to the offer described below (the “Change of Control Offer”) on the terms
set forth in the Notes. In the Change of Control Offer, the Company will be required to offer
payment in cash equal to 101% of the aggregate principal amount of Notes repurchased plus accrued
and unpaid interest, if any, on the Notes repurchased, to, but not including, the date of purchase
(the “Change of Control Payment”).

     Within 30 days following any Change of Control Triggering Event or, at the Company’s option,
prior to any Change of Control, but after public announcement of the transaction that constitutes
or may constitute the Change of Control, a notice will be mailed to Holders of the Notes describing
the transaction that constitutes or may constitute the Change of Control Triggering Event and
offering to repurchase such Notes on the date specified in the notice, which date will be no
earlier than 30 days and no later than 60 days from the date such notice is mailed (a “Change of
Control Payment Date”). The notice, if mailed prior to the date of consummation of the Change of
Control, will state that the Change of Control Offer is conditioned on the Change of Control
Triggering Event occurring on or prior to the Change of Control Payment Date.

     On the Change of Control Payment Date, the Company will be required, to the extent lawful, to:

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

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

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

     The Paying Agent will be required to promptly mail, to each Holder who properly tendered
Notes, the purchase price for such Notes, and the Trustee will be required to promptly authenticate
and mail (or cause to be transferred by book entry) to each such
Holder a new Note equal in principal amount to any unpurchased portion of the Notes
surrendered, if any; provided,

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that each new Note will be in a principal amount of $2,000 or a multiple of $1,000 in excess
thereof.

     The Company will not be required to make a Change of Control Offer upon a Change of Control
Triggering Event if a third party makes such an offer in the manner, at the times and otherwise in
compliance with the requirements for an offer made by the Company and such third party purchases
all Notes properly tendered and not withdrawn under its offer. In the event that such third party
terminates or defaults its offer, the Company will be required to make a Change of Control Offer
treating the date of such termination or default as though it were the date of the Change of
Control Triggering Event.

     In addition, the Company will not repurchase any Notes if there has occurred and is continuing
on the Change of Control Payment Date an Event of Default under the Indenture, other than a default
in the payment of the Change of Control Payment upon a Change of Control Triggering Event.

     “Change of Control” means the occurrence of any one of the following after the Distribution
Date: (1) the direct or indirect sale, lease, transfer, conveyance or other disposition (other than
by way of merger, amalgamation, arrangement or consolidation), in one or a series of related
transactions, of all or substantially all of the Company’s properties or assets and those of the
Company’s subsidiaries, taken as a whole, to one or more persons, other than to the Company or one
of the Company’s subsidiaries; (2) the first day on which a majority of the members of the Board of
Directors is not composed of Continuing Directors (as defined below); (3) the consummation of any
transaction including, without limitation, any merger, amalgamation, arrangement or consolidation
the result of which is that any person becomes the beneficial owner, directly or indirectly, of
more than 50% of the Company’s Voting Stock; (4) the Company consolidates with, or merges with or
into, any person, or any person consolidates with, or merges with or into, the Company, in any such
event pursuant to a transaction in which any of the outstanding Voting Stock of the Company or of
such other person is converted into or exchanged for cash, securities or other property, other than
any such transaction where the shares of the Company’s Voting Stock outstanding immediately prior
to such transaction constitute, or are converted into or exchanged for, a majority of the Voting
Stock of the surviving person immediately after giving effect to such transaction; or (5) the
adoption of a plan relating to the Company’s liquidation or dissolution (other than the Company’s
liquidation into a newly formed holding company). Notwithstanding the foregoing, a transaction
described in clause (3) above will not be deemed to involve a Change of Control if (1) the Company
becomes a direct or indirect wholly-owned subsidiary of a holding company (which will include a
parent company) and (2)(A) the direct or indirect holders of the Voting Stock of such holding
company immediately following that transaction are substantially the same as, and hold in
substantially the same proportions as, the holders of the Company’s Voting Stock immediately prior
to that transaction or (B) immediately following that transaction no person (other than a holding
company satisfying the requirements of this sentence) is the beneficial owner, directly or
indirectly of more than 50% of the then outstanding Voting Stock, measured by voting
power, of such holding company. Following any such transaction, references in this definition
to the Company shall be deemed to refer to such holding company. For the purposes of this
definition, “person” and “beneficial owner” have the meanings used in Section 13(d) of the Exchange
Act.

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     “Change of Control Triggering Event” means the Notes cease to be rated Investment Grade by
each of the Rating Agencies on any date during the 60-day period (the “Trigger Period”) commencing
upon the earlier of (1) the first public announcement of the Change of Control or the Company’s
intention to effect a Change of Control and (2) the consummation of such Change of Control, which
Trigger Period will be extended following consummation of a Change of Control for so long as the
rating of the Notes is under publicly announced consideration for possible downgrade by any of the
Rating Agencies. Unless at least one Rating Agency is providing a rating for the Notes at the
commencement of any Trigger Period, the Notes will be deemed to have ceased to be rated Investment
Grade during that Trigger Period. Notwithstanding the foregoing, no Change of Control Triggering
Event will all be deemed to have occurred in connection with any particular Change of Control
unless and until such Change of Control has actually been consummated.

     “Continuing Directors” means, as of any date of determination, any member of the Board of
Directors who (1) was a member of the Board of Directors on the issue date of the Notes; or (2) was
nominated for election, elected or appointed to the Board of Directors with the approval of a
majority of the Continuing Directors who were members of the Board of Directors at the time of such
nomination, election or appointment (either by a specific vote or by approval by such directors of
the Company’s proxy statement in which such member was named as a nominee for election as a
director).

     “Fitch” means Fitch Inc., and its successors.

     “Investment Grade” means a rating equal to or higher than BBB- (or the equivalent) by Fitch,
Baa3 (or the equivalent) by Moody’s or BBB- (or the equivalent) by S&P, and the equivalent
investment grade credit rating from any replacement Rating Agency or Rating Agencies selected by
the Company.

     “Moody’s” means Moody’s Investors Service, Inc., a subsidiary of Moody’s Corporation,
and its successors.

     “Rating Agencies” means (a) each of Fitch, Moody’s and S&P; and (b) if any of the Rating
Agencies ceases to provide rating services to issuers or investors, a “nationally recognized
statistical rating organization” within the meaning of Rule 15c3-1(c)(2)(vi)(F) under the Exchange
Act that is selected by the Company (as certified by the Company’s Chief Executive Officer or Chief
Financial Officer) as a replacement for Fitch, Moody’s or S&P, or all of them, as the case may be.

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

     “Voting Stock” of any specified person as of any date means the capital stock of such person
that is at the time entitled to vote generally in the election of the board of directors of such
person.

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Defeasance

     The Indenture contains provisions for defeasance at any time of the entire principal of all
the Securities of any series upon compliance by the Company with certain conditions set forth
therein.

     Certain of the Company’s obligations under the Indenture with respect to the Notes may be
terminated if the Company irrevocably deposits with the Trustee money or U.S. Government
Obligations or Equivalent Government Securities sufficient to pay and discharge the entire
indebtedness on the Indenture.

Events of Default

     If an Event of Default with respect to the Notes shall occur and be continuing, the principal
amount hereof may be declared due and payable or may be otherwise accelerated in the manner and
with the effect provided in the Indenture.

Payment

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

Amendments

     The Indenture permits, with certain exceptions as therein provided, the amendment thereof and
the modification of the rights and obligations of the Company and the rights of the Holders of the
Securities of each series under the Indenture at any time by the Company and the Trustee with the
consent of the Holders of not less than a majority of the aggregate principal amount of the
Securities at the time Outstanding of each series to be affected by such amendment or modification.
The Indenture also contains provisions permitting the Holders of not less than a majority of the
aggregate principal amount of the Securities of each series at the time Outstanding, on behalf of
the Holders of Securities of such series, to waive compliance by the Company with certain
provisions of the Indenture and certain past defaults under the Indenture and their consequences.
Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such
Holder and upon all future Holders of this Note and of any Note issued upon registration of
transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent
or waiver is made upon this Note.

Transfer, Registration and Exchange

     As provided in the Indenture and subject to certain limitations therein set forth, the
transfer of this Note is registerable in the Security Register, upon surrender of this Note for
registration of transfer at the office or agency of the Company in any Place of Payment duly
endorsed, or accompanied by a written instrument of transfer in form satisfactory to the Company
and the Security Registrar duly executed, by the Holder hereof or his attorney duly authorized in
writing, and thereupon one or more new Notes, of authorized denominations and for the same
aggregate principal amount, will be issued to the designated transferee or transferees.

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

     Prior to the presentment of this Note for registration of transfer, the Company, the Trustee,
and any agent of the Company or the Trustee may treat the Person in whose name this Note is
registered as the owner hereof for the purpose of receiving payment as herein provided and for all
other purposes, whether or not this Note is overdue, and neither the Company, the Trustee, nor any
such agent shall be affected by notice to the contrary.

Other Terms

     The Indenture contains provisions setting forth certain conditions to the institution of
proceedings by Holders of Securities with respect to the Indenture or for any remedy under the
Indenture.

     The Notes are issuable only in registered form without coupons in denominations of $2,000 and
integral multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain
limitations therein set forth, this Note is exchangeable for a like aggregate principal amount of
Notes of different authorized denominations as requested by the Holder surrendering the same.

     The Notes are not subject to a sinking fund.

     This Note shall be governed by, and construed in accordance with, the laws of the State of New
York.

     All terms used in this Note which are defined in the Indenture and are not otherwise defined
herein shall have the meanings assigned to them in the Indenture.

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ASSIGNMENT FORM

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

 

[PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE]

 

 

 

[PLEASE PRINT OR TYPE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE]

the within Note and all rights thereunder, hereby irrevocably constituting and appointing
_________________________ attorney to transfer such Note on the books of the Issuer, with full
power of substitution in the premises.

Dated:_______________________

NOTICE: The signature to this assignment must correspond with the name as written upon the face of
the within Note in every particular without alteration or enlargement or any change whatsoever.

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THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS SECURITY NOR ANY
INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED
OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT
FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF,
AGREES ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED
SECURITIES, TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE “RESALE
RESTRICTION TERMINATION DATE”) THAT IS ONE YEAR AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF,
THE ORIGINAL ISSUE DATE OF THE ISSUANCE OF ANY ADDITIONAL NOTES AND THE LAST DATE ON WHICH THE
ISSUER OR ANY AFFILIATE OF THE ISSUER WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF SUCH
SECURITY), ONLY (A) TO THE COMPANY OR ANY SUBSIDIARY THEREOF, (B) PURSUANT TO A REGISTRATION
STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE
SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO
A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A THAT
PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE
IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES
TO NON-U.S. PERSONS THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER
THE SECURITIES ACT OR (E) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE COMPANY’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY
SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES (D) OR (E) TO REQUIRE THE DELIVERY OF AN OPINION
OF COUNSEL, CERTIFICATION AND/ OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM. THIS LEGEND WILL
BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE.

BY ITS ACQUISITION OF THIS SECURITY, THE HOLDER THEREOF WILL BE DEEMED TO HAVE REPRESENTED AND
WARRANTED THAT EITHER (1) NO PORTION OF THE ASSETS USED BY SUCH HOLDER TO ACQUIRE OR HOLD THIS
SECURITY CONSTITUTES THE ASSETS OF AN EMPLOYEE BENEFIT PLAN THAT IS SUBJECT TO TITLE I OF THE U.S.
EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OF A PLAN, INDIVIDUAL
RETIREMENT ACCOUNT OR OTHER ARRANGEMENT THAT IS SUBJECT TO SECTION 4975 OF THE U.S. INTERNAL
REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) OR PROVISIONS UNDER ANY OTHER FEDERAL, STATE, LOCAL,
NON-U.S. OR OTHER LAWS OR REGULATIONS THAT ARE
SIMILAR TO SUCH PROVISIONS OF ERISA OR THE CODE (“SIMILAR LAWS”), OR OF AN ENTITY WHOSE UNDERLYING
ASSETS ARE CONSIDERED TO INCLUDE “PLAN ASSETS” OF ANY SUCH PLAN, ACCOUNT OR

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ARRANGEMENT, OR (2) THE ACQUISITION AND HOLDING OF THIS SECURITY WILL NOT CONSTITUTE A NON-EXEMPT
PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE OR A SIMILAR
VIOLATION UNDER ANY APPLICABLE SIMILAR LAWS.

THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE REFERRED TO HEREIN. UNLESS AND
UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN CERTIFICATED FORM, THIS NOTE MAY NOT BE
TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITORY TRUST COMPANY (“DTC”) TO A NOMINEE OF DTC, OR BY A
NOMINEE OF DTC TO DTC OR ANOTHER NOMINEE OF DTC, OR BY DTC OR ANY SUCH NOMINEE TO A SUCCESSOR
DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS NOTE IS PRESENTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE
OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH
OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER
HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

-2-

 

			
	No. 2
	 	Principal Amount $100,000,000

CUSIP No. 98419MAE0

XYLEM INC.

4.875% SENIOR NOTES DUE 2021

     XYLEM INC., an Indiana corporation (herein called the “Company”, which term includes any
successor corporation under the Indenture referred to on the reverse hereof), for value received,
hereby promises to pay to Cede & Co. or registered assigns, the principal sum of $100,000,000 on
October 1, 2021, and to pay interest on said principal sum semi-annually on April 1 and October 1
of each year, commencing April 1, 2012, at the rate of 4.875% per annum from September 20, 2011, or
from the most recent date in respect of which interest has been paid or duly provided for, until
payment of the principal sum has been made or duly provided for.

     The interest 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 Note (or one or more
Predecessor Securities) is registered at the close of business on the Record Date for such Interest
Payment Date, which shall be the March 15 or September 15 (whether or not a Business Day) next
preceding such Interest Payment Date. Any such interest that is payable but is not so punctually
paid or duly provided for shall forthwith cease to be payable to the registered Holder on such
Record Date and may either be paid to the Person in whose name this Note (or one or more
Predecessor Securities) is registered at the close of business on a Special Record Date for the
payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to
Holders of Notes not earlier than 10 days prior to such Special Record Date, or may be paid at any
time in any other lawful manner not inconsistent with the requirements of any securities exchange
on which the Notes may be listed and upon such notice as may be required by such exchange, if such
manner of payment shall be deemed practical by the Trustee, all as more fully provided in the
Indenture.

     Payment of the principal of and interest on this Note will be made at the Place of Payment in
such coin or currency of the United States as at the time of payment is legal tender for payment of
public and private debts; provided, however, that payments of interest may be made at the option of
the Company by checks mailed to the addresses of the Persons entitled thereto as such addresses
shall appear in the Security Register or by wire transfer to an account maintained by the payee of
a bank located in the United States.

     Reference is made to the further provisions of this Note set forth on the reverse hereof,
which shall have the same effect as though fully set forth at this place.

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

-3-

 

     IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed by manual or
facsimile signature.

	 	 	 	 	 
	Dated: September 20, 2011 	XYLEM INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

-4-

 

	 	 	 	 	 

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

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

	 	 	 	 	 
	 	UNION BANK, N.A., as Trustee

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

-5-

 

	 	 	 	 	 

REVERSE OF NOTE

XYLEM INC.

4.875% SENIOR NOTES DUE 2021

This Note is one of a duly authorized issue of debentures, notes or other evidences of indebtedness
of the Company (herein called the “Securities”), issued and to be issued in one or more series
under an Indenture, dated as of September 20, 2011 (herein called the “Indenture”), between the
Company, ITT Corporation, as Guarantor (herein called the “Guarantor”) and Union Bank, N.A., as
Trustee (herein called the “Trustee”, which term includes any successor trustee under the
Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for
a statement of the respective rights thereunder of the Company, the Guarantor, the Trustee, and the
Holders of the Securities, the terms upon which the Securities are, and are to be, authenticated
and delivered, and the definition of capitalized terms used herein and not otherwise defined
herein. The Securities may be issued in one or more series, which different series may be issued in
various aggregate principal amounts, may be denominated in different currencies, may mature at
different times, may bear interest (if any) at different rates (which rates may be fixed or
variable), may be subject to different redemption provisions (if any), may be subject to different
sinking, purchase, or analogous funds (if any), may be subject to different covenants and Events of
Default, and may otherwise vary as provided in the Indenture. This Note is one of a series of
Securities of the Company designated as set forth on the face hereof (herein called the “Notes”),
initially limited in aggregate principal amount to $100,000,000.

Optional Redemption

     The Notes shall be redeemable as a whole or in part, at the Company’s option at any time and
from time to time, at a redemption price equal to the greater of (i) 100% of the principal amount
of such Notes and (ii) the sum of the present values of the remaining scheduled payments of
principal and interest thereon (exclusive of interest accrued to the date of redemption) discounted
to the redemption date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day
months) at the Treasury Rate plus 45 basis points, plus in each case accrued and unpaid interest to
the date of redemption.

     Except as otherwise provided herein, redemption of the Notes shall be made in accordance
with the terms of Article 11 of the Indenture.

          “Treasury Rate” means the yield to maturity at the time of computation of United States
Treasury securities with a constant maturity (as compiled and published in the most recent Federal
Reserve Statistical Release H.15 (519) which has become publicly available at least two business
days prior to the date of redemption (or, if such Statistical Release is no longer published, any
publicly available source or similar market data)) most nearly equal to the period from the date of
redemption to the maturity date; provided, however, that if the period from the date of redemption
to the maturity date is
not equal to the constant maturity of a United States Treasury security for which a weekly
average yield is given, the Treasury Rate shall be

-6-

 

obtained by linear interpolation (calculated to the nearest one-twelfth of a year) from the weekly
average yields of United States Treasury securities for which such yields are given, except that if
the period from the date of redemption to the maturity date is less than one year, the weekly
average yield on actually traded United States Treasury securities adjusted to a constant maturity
of one year shall be used.

Repurchase Upon Change of Control Triggering Event

     If a Change of Control Triggering Event (as defined below) occurs after the Distribution Date
(as defined in the Indenture), unless the Company has exercised its right to redeem the Notes as
described above, the Company will be required to make an offer to repurchase all or, at the
Holder’s option, any part (equal to $2,000 or any multiple of $1,000 in excess thereof), of each
Holder’s Notes pursuant to the offer described below (the “Change of Control Offer”) on the terms
set forth in the Notes. In the Change of Control Offer, the Company will be required to offer
payment in cash equal to 101% of the aggregate principal amount of Notes repurchased plus accrued
and unpaid interest, if any, on the Notes repurchased, to, but not including, the date of purchase
(the “Change of Control Payment”).

     Within 30 days following any Change of Control Triggering Event or, at the Company’s option,
prior to any Change of Control, but after public announcement of the transaction that constitutes
or may constitute the Change of Control, a notice will be mailed to Holders of the Notes describing
the transaction that constitutes or may constitute the Change of Control Triggering Event and
offering to repurchase such Notes on the date specified in the notice, which date will be no
earlier than 30 days and no later than 60 days from the date such notice is mailed (a “Change of
Control Payment Date”). The notice, if mailed prior to the date of consummation of the Change of
Control, will state that the Change of Control Offer is conditioned on the Change of Control
Triggering Event occurring on or prior to the Change of Control Payment Date.

     On the Change of Control Payment Date, the Company will be required, to the extent lawful, to:

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

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

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

     The Paying Agent will be required to promptly mail, to each Holder who properly tendered
Notes, the purchase price for such Notes, and the Trustee will be required to promptly authenticate
and mail (or cause to be transferred by book entry) to each such
Holder a new Note equal in principal amount to any unpurchased portion of the Notes
surrendered, if any; provided,

-7-

 

that each new Note will be in a principal amount of $2,000 or a multiple of $1,000 in excess
thereof.

     The Company will not be required to make a Change of Control Offer upon a Change of Control
Triggering Event if a third party makes such an offer in the manner, at the times and otherwise in
compliance with the requirements for an offer made by the Company and such third party purchases
all Notes properly tendered and not withdrawn under its offer. In the event that such third party
terminates or defaults its offer, the Company will be required to make a Change of Control Offer
treating the date of such termination or default as though it were the date of the Change of
Control Triggering Event.

     In addition, the Company will not repurchase any Notes if there has occurred and is continuing
on the Change of Control Payment Date an Event of Default under the Indenture, other than a default
in the payment of the Change of Control Payment upon a Change of Control Triggering Event.

     “Change of Control” means the occurrence of any one of the following after the Distribution
Date: (1) the direct or indirect sale, lease, transfer, conveyance or other disposition (other than
by way of merger, amalgamation, arrangement or consolidation), in one or a series of related
transactions, of all or substantially all of the Company’s properties or assets and those of the
Company’s subsidiaries, taken as a whole, to one or more persons, other than to the Company or one
of the Company’s subsidiaries; (2) the first day on which a majority of the members of the Board of
Directors is not composed of Continuing Directors (as defined below); (3) the consummation of any
transaction including, without limitation, any merger, amalgamation, arrangement or consolidation
the result of which is that any person becomes the beneficial owner, directly or indirectly, of
more than 50% of the Company’s Voting Stock; (4) the Company consolidates with, or merges with or
into, any person, or any person consolidates with, or merges with or into, the Company, in any such
event pursuant to a transaction in which any of the outstanding Voting Stock of the Company or of
such other person is converted into or exchanged for cash, securities or other property, other than
any such transaction where the shares of the Company’s Voting Stock outstanding immediately prior
to such transaction constitute, or are converted into or exchanged for, a majority of the Voting
Stock of the surviving person immediately after giving effect to such transaction; or (5) the
adoption of a plan relating to the Company’s liquidation or dissolution (other than the Company’s
liquidation into a newly formed holding company). Notwithstanding the foregoing, a transaction
described in clause (3) above will not be deemed to involve a Change of Control if (1) the Company
becomes a direct or indirect wholly-owned subsidiary of a holding company (which will include a
parent company) and (2)(A) the direct or indirect holders of the Voting Stock of such holding
company immediately following that transaction are substantially the same as, and hold in
substantially the same proportions as, the holders of the Company’s Voting Stock immediately prior
to that transaction or (B) immediately following that transaction no person (other than a holding
company satisfying the requirements of this sentence) is the beneficial owner, directly or
indirectly of more than 50% of the then outstanding Voting Stock, measured by voting
power, of such holding company. Following any such transaction, references in this definition
to the Company shall be deemed to refer to such holding company. For the purposes of this
definition, “person” and “beneficial owner” have the meanings used in Section 13(d) of the Exchange
Act.

-8-

 

     “Change of Control Triggering Event” means the Notes cease to be rated Investment Grade by
each of the Rating Agencies on any date during the 60-day period (the “Trigger Period”) commencing
upon the earlier of (1) the first public announcement of the Change of Control or the Company’s
intention to effect a Change of Control and (2) the consummation of such Change of Control, which
Trigger Period will be extended following consummation of a Change of Control for so long as the
rating of the Notes is under publicly announced consideration for possible downgrade by any of the
Rating Agencies. Unless at least one Rating Agency is providing a rating for the Notes at the
commencement of any Trigger Period, the Notes will be deemed to have ceased to be rated Investment
Grade during that Trigger Period. Notwithstanding the foregoing, no Change of Control Triggering
Event will all be deemed to have occurred in connection with any particular Change of Control
unless and until such Change of Control has actually been consummated.

     “Continuing Directors” means, as of any date of determination, any member of the Board of
Directors who (1) was a member of the Board of Directors on the issue date of the Notes; or (2) was
nominated for election, elected or appointed to the Board of Directors with the approval of a
majority of the Continuing Directors who were members of the Board of Directors at the time of such
nomination, election or appointment (either by a specific vote or by approval by such directors of
the Company’s proxy statement in which such member was named as a nominee for election as a
director).

     “Fitch” means Fitch Inc., and its successors.

     “Investment Grade” means a rating equal to or higher than BBB- (or the equivalent) by Fitch,
Baa3 (or the equivalent) by Moody’s or BBB- (or the equivalent) by S&P, and the equivalent
investment grade credit rating from any replacement Rating Agency or Rating Agencies selected by
the Company.

     “Moody’s” means Moody’s Investors Service, Inc., a subsidiary of Moody’s Corporation,
and its successors.

     “Rating Agencies” means (a) each of Fitch, Moody’s and S&P; and (b) if any of the Rating
Agencies ceases to provide rating services to issuers or investors, a “nationally recognized
statistical rating organization” within the meaning of Rule 15c3-1(c)(2)(vi)(F) under the Exchange
Act that is selected by the Company (as certified by the Company’s Chief Executive Officer or Chief
Financial Officer) as a replacement for Fitch, Moody’s or S&P, or all of them, as the case may be.

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

     “Voting Stock” of any specified person as of any date means the capital stock of such person
that is at the time entitled to vote generally in the election of the board of directors of such
person.

-9-

 

Defeasance

     The Indenture contains provisions for defeasance at any time of the entire principal of all
the Securities of any series upon compliance by the Company with certain conditions set forth
therein.

     Certain of the Company’s obligations under the Indenture with respect to the Notes may be
terminated if the Company irrevocably deposits with the Trustee money or U.S. Government
Obligations or Equivalent Government Securities sufficient to pay and discharge the entire
indebtedness on the Indenture.

Events of Default

     If an Event of Default with respect to the Notes shall occur and be continuing, the principal
amount hereof may be declared due and payable or may be otherwise accelerated in the manner and
with the effect provided in the Indenture.

Payment

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

Amendments

     The Indenture permits, with certain exceptions as therein provided, the amendment thereof and
the modification of the rights and obligations of the Company and the rights of the Holders of the
Securities of each series under the Indenture at any time by the Company and the Trustee with the
consent of the Holders of not less than a majority of the aggregate principal amount of the
Securities at the time Outstanding of each series to be affected by such amendment or modification.
The Indenture also contains provisions permitting the Holders of not less than a majority of the
aggregate principal amount of the Securities of each series at the time Outstanding, on behalf of
the Holders of Securities of such series, to waive compliance by the Company with certain
provisions of the Indenture and certain past defaults under the Indenture and their consequences.
Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such
Holder and upon all future Holders of this Note and of any Note issued upon registration of
transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent
or waiver is made upon this Note.

Transfer, Registration and Exchange

     As provided in the Indenture and subject to certain limitations therein set forth, the
transfer of this Note is registerable in the Security Register, upon surrender of this Note for
registration of transfer at the office or agency of the Company in any Place of Payment duly
endorsed, or accompanied by a written instrument of transfer in form satisfactory to the Company
and the Security Registrar duly executed, by the Holder hereof or his attorney duly authorized in
writing, and thereupon one or more new Notes, of authorized denominations and for the same
aggregate principal amount, will be issued to the designated transferee or transferees.

-10-

 

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

     Prior to the presentment of this Note for registration of transfer, the Company, the Trustee,
and any agent of the Company or the Trustee may treat the Person in whose name this Note is
registered as the owner hereof for the purpose of receiving payment as herein provided and for all
other purposes, whether or not this Note is overdue, and neither the Company, the Trustee, nor any
such agent shall be affected by notice to the contrary.

Other Terms

     The Indenture contains provisions setting forth certain conditions to the institution of
proceedings by Holders of Securities with respect to the Indenture or for any remedy under the
Indenture.

     The Notes are issuable only in registered form without coupons in denominations of $2,000 and
integral multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain
limitations therein set forth, this Note is exchangeable for a like aggregate principal amount of
Notes of different authorized denominations as requested by the Holder surrendering the same.

     The Notes are not subject to a sinking fund.

     This Note shall be governed by, and construed in accordance with, the laws of the State of New
York.

     All terms used in this Note which are defined in the Indenture and are not otherwise defined
herein shall have the meanings assigned to them in the Indenture.

-11-

 

ASSIGNMENT FORM

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

 

[PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE]

 

 

 

[PLEASE PRINT OR TYPE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE]

the within Note and all rights thereunder, hereby irrevocably constituting and appointing
_________________________ attorney to transfer such Note on the books of the Issuer, with full
power of substitution in the premises.

Dated:_______________________

NOTICE: The signature to this assignment must correspond with the name as written upon the face of
the within Note in every particular without alteration or enlargement or any change whatsoever.

-12-exv4w7

Exhibit 4.7

REGISTRATION RIGHTS AGREEMENT

     This REGISTRATION RIGHTS AGREEMENT dated September 20, 2011, (this “Agreement”) is
entered into by and among Exelis Inc., an Indiana corporation (the “Company”), ITT
Corporation, an Indiana corporation (the “Initial Guarantor”), and Barclays Capital Inc.,
Citigroup Global Markets Inc., and J.P. Morgan Securities LLC (the “Representatives”), as
representatives of the initial purchasers listed on Schedule 1 (the “Initial Purchasers”)
to the Purchase Agreement dated as of September 15, 2011 among the Company, the Initial Guarantor
and the Representatives (the “Purchase Agreement”).

     The Company, the Initial Guarantor and the Representatives are parties to the Purchase
Agreement, which provides for the sale by the Company to the Initial Purchasers of $250,000,000
aggregate principal amount of the Company’s 4.250% Senior Notes due 2016 (the “2016 notes”) and
$400,000,000 aggregate principal amount of the Company’s 5.550% Senior Notes due 2021 (the “2021
notes” and, together with the 2016 notes, the “Securities”) which initially will be
guaranteed on an unsecured senior basis by the Initial Guarantor pursuant to the terms of the
Indenture (as defined below). As an inducement to the Initial Purchasers to enter into the Purchase
Agreement, the Company and the Initial Guarantor have agreed to provide to the Initial Purchasers
and their direct and indirect transferees the registration rights set forth in this Agreement. The
execution and delivery of this Agreement is a condition to the closing under the Purchase
Agreement.

     In consideration of the foregoing, the parties hereto agree as follows:

     1. Definitions. As used in this Agreement, the following terms shall have the
following meanings:

     “Additional Guarantor” shall mean any subsidiary of the Company that executes a
Guarantee under the Indenture after the date of this Agreement.

     “Business Day” shall mean any day that is not a Saturday, Sunday or other day
on which commercial banks in New York City are authorized or required by law to remain
closed.

     “Closing Date” shall mean the Closing Date as defined in the Purchase Agreement.

     “Company” shall have the meaning set forth in the preamble and shall also include the
Company’s successors.

     “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended from
time to time.

     “Exchange Dates” shall have the meaning set forth in Section 2(a)(ii) hereof.

 

 

     “Exchange Offer” shall mean the exchange offer by the Company and the Guarantors of
Exchange Securities of each series for Registrable Securities of such series pursuant to Section
2(a) hereof.

     “Exchange Offer Registration” shall mean a registration under the
Securities Act effected pursuant to Section 2(a) hereof.

     “Exchange Offer Registration Statement” shall mean an exchange offer registration
statement on Form S-4 (or, if applicable, on another appropriate form) and all amendments and
supplements to such registration statement, in each case including the Prospectus contained
therein or deemed a part thereof, all exhibits thereto and any document incorporated by reference
therein.

     “Exchange Securities” shall mean senior notes of a series issued by the Company and
guaranteed by the Guarantors under the Indenture containing terms identical to the applicable
series of Securities (except that the Exchange Securities will not be subject to restrictions on
transfer or to any increase in annual interest rate for failure to comply with this Agreement) and
to be offered to Holders of Securities in exchange for Securities of such series pursuant to the
Exchange Offer for such series.

     “FINRA” means the Financial Industry Regulatory Authority, Inc.

     “Free Writing Prospectus” means each free writing prospectus (as defined in Rule 405
under the Securities Act) prepared by or on behalf of the Company or used or referred to by the
Company in connection with the sale of the Securities or the Exchange Securities.

     “Guarantees” shall mean the guarantees of the Securities and guarantees of the
Exchange Securities by the Guarantors under the Indenture.

     “Guarantors” shall mean the Initial Guarantor, any Additional Guarantors and any
Guarantor’s successor that Guarantees the Securities.

     “Holders” shall mean the Initial Purchasers, for so long as they own any Registrable
Securities, and each of their successors, assigns and direct and indirect transferees who become
owners of Registrable Securities under the Indenture; provided that, for purposes of
Section 4 and Section 5 hereof, the term “Holders” shall include Participating Broker-Dealers.

     “Indemnified Person” shall have the meaning set forth in Section 5(c) hereof.

     “Indemnifying Person” shall have the meaning set forth in Section 5(c) hereof.

     “Indenture” shall mean the Indenture relating to the Securities dated as of September
20, 2011 among the Company, the Guarantors and Union Bank,

2

 

N.A., as trustee, and as the same may be amended from time to time in accordance with
the terms thereof.

     “Initial Purchasers” shall have the meaning set forth in the preamble.

     “Inspector” shall have the meaning set forth in Section 3(a)(xiv) hereof.

     “Issuer Information” shall have the meaning set forth in Section 5(a) hereof.

     “Majority Holders” shall mean the Holders of a majority of the aggregate principal
amount of the outstanding Registrable Securities of each series; provided that whenever the consent
or approval of Holders of a specified percentage of Registrable Securities is required hereunder,
any Registrable Securities owned directly or indirectly by the Company or any of its affiliates
shall not be counted in determining whether such consent or approval was given by the Holders of
such required percentage or amount; and provided, further, that if the Company
shall issue any additional Securities under the Indenture prior to consummation of the Exchange
Offer or, if applicable, the effectiveness of any Shelf Registration Statement, such additional
Securities and the Registrable Securities to which this Agreement relates shall be treated together
as one class for purposes of determining whether the consent or approval of Holders of a specified
percentage of Registrable Securities has been obtained.

     “Notice and Questionnaire” shall mean a notice of registration statement and selling
security holder questionnaire distributed to a Holder by the Company upon receipt of a Shelf
Request from such Holder.

     “Participating Broker-Dealers” shall have the meaning set forth in Section
4(a) hereof.

     “Participating Holder” shall mean any Holder of Registrable Securities that has
returned a completed and signed Notice and Questionnaire to the Company in accordance with Section
2(b) hereof.

     “Person” shall mean an individual, partnership, limited liability company,
corporation, trust or unincorporated organization, or a government or agency or political
subdivision thereof.

     “Prospectus” shall mean the prospectus included in, or, pursuant to the rules and
regulations of the Securities Act, deemed a part of, a Registration Statement, including any
preliminary prospectus, and any such prospectus as amended or supplemented by any prospectus
supplement, including a prospectus supplement with respect to the terms of the offering of any
portion of the Registrable Securities covered by a Shelf Registration Statement, and by all other
amendments and supplements to such prospectus, and in each case including any document
incorporated by reference therein.

3

 

     “Purchase Agreement” shall have the meaning set forth in the preamble.

     “Registrable Securities” shall mean the Securities; provided that the
Securities shall cease to be Registrable Securities (i) when a Registration Statement with respect
to such Securities has become effective under the Securities Act and such Securities have been
exchanged or disposed of pursuant to such Registration Statement, (ii) when such Securities cease
to be outstanding or (iii) except in the case of Securities that otherwise remain Registrable
Securities and that are held by an Initial Purchaser and that are ineligible to be exchanged in the
Exchange Offer, when the Exchange Offer is consummated.

     “Registration Default” shall mean the occurrence of any of the following: (i) the
Exchange Offer is not completed on or prior to the Target Registration Date, (ii) the Shelf
Registration Statement, if required pursuant to Section 2(b)(i) or Section 2(b)(ii) hereof, has not
become effective on or prior to the Target Registration Date, (iii) if the Company receives a Shelf
Request pursuant to Section 2(b)(iii), the Shelf Registration Statement required to be filed
thereby has not become effective by the later of (a) the Target Registration Date and (b) 90 days
after delivery of such Shelf Request, (iv) the Shelf Registration Statement, if required by this
Agreement, has become effective and thereafter ceases to be effective or the Prospectus contained
therein ceases to be usable, in each case whether or not permitted by this Agreement, at any time
during the Shelf Effectiveness Period, and such failure to remain effective or usable exists for
more than 30 days (whether or not consecutive) in any 12-month period or (v) the Shelf Registration
Statement, if required by this Agreement, has become effective and thereafter, on more than two
occasions in any 12-month period during the Shelf Effectiveness Period, the Shelf Registration
Statement ceases to be effective or the Prospectus contained therein ceases to be usable, in each
case whether or not permitted by this Agreement.

     “Registration Expenses” shall mean any and all expenses incident to performance of or
compliance by the Company and the Guarantors with this Agreement, including without limitation: (i)
all SEC, stock exchange or FINRA registration and filing fees, (ii) all fees and expenses incurred
in connection with compliance with state securities or blue sky laws (including reasonable fees and
disbursements of counsel for any Underwriters or Holders in connection with blue sky qualification
of any Exchange Securities or Registrable Securities), (iii) all expenses of any Persons in
preparing or assisting in preparing, word processing, printing and distributing any Registration
Statement, any Prospectus, any Free Writing Prospectus and any amendments or supplements thereto,
any underwriting agreements, securities sales agreements or other similar agreements and any other
documents relating to the performance of and compliance with this Agreement, (iv) all rating agency
fees, (v) all fees and disbursements relating to the qualification of the Indenture under
applicable securities laws, (vi) the fees and disbursements of the Trustee and its counsel, (vii)
the fees and disbursements of counsel for the Company and the Guarantors and, in the case of a
Shelf Registration Statement, the reasonable fees and

4

 

disbursements of one counsel for the Participating Holders (which counsel shall be selected by the
Participating Holders holding a majority of the aggregate principal amount of Registrable
Securities held by such Participating Holders and which counsel may also be counsel for the Initial
Purchasers) and (viii) the fees and disbursements of the independent registered public accountants
of the Company and the Guarantors, including the expenses of any special audits or “comfort”
letters required by or incident to the performance of and compliance with this Agreement, but
excluding fees and expenses of counsel to the Underwriters (other than fees and expenses set forth
in clause (ii) above) or the Holders and underwriting discounts and commissions, brokerage
commissions and transfer taxes, if any, relating to the sale or disposition of Registrable
Securities by a Holder.

     “Registration Statement” shall mean any registration statement of the Company and the
Guarantors that covers any of the Exchange Securities or Registrable Securities pursuant to the
provisions of this Agreement and all amendments and supplements to any such registration
statement, including post-effective amendments, in each case including the Prospectus contained
therein or deemed a part thereof, all exhibits thereto and any document incorporated by reference
therein.

     “Representatives” shall have the meaning set forth in the preamble.

     “SEC” shall mean the United States Securities and Exchange Commission.

     “Securities” shall have the meaning set forth in the preamble.

     “Securities Act” shall mean the Securities Act of 1933, as amended from time to
time.

     “Shelf Effectiveness Period” shall have the meaning set forth in Section
2(b) hereof.

     “Shelf Registration” shall mean a registration effected pursuant to Section
2(b) hereof.

     “Shelf Registration Statement” shall mean a “shelf” registration statement of the
Company and the Guarantors that covers all or a portion of the Registrable Securities (but no other
securities unless approved by a majority in aggregate principal amount of the Securities held by
the Participating Holders) on an appropriate form under Rule 415 under the Securities Act, or any
similar rule that may be adopted by the SEC, and all amendments and supplements to such
registration statement, including post-effective amendments, in each case including the Prospectus
contained therein or deemed a part thereof, all exhibits thereto and any document incorporated by
reference therein.

     “Shelf Request” shall have the meaning set forth in Section 2(b) hereof.

5

 

     “Staff” shall mean the staff of the SEC.

     “Target Registration Date” shall mean 365 days after the Closing Date.

     “Trust Indenture Act” shall mean the Trust Indenture Act of 1939, as amended
from time to time.

     “Trustee” shall mean the trustee with respect to the Securities under the
Indenture.

     “Underwriter” shall have the meaning set forth in Section 3(e) hereof.

     “Underwritten Offering” shall mean an offering in which Registrable
Securities are sold to an Underwriter for reoffering to the public.

     2. Registration Under the Securities Act. (a) To the extent not prohibited by any
applicable law or applicable interpretations of the Staff, the Company and the Guarantors shall use
their reasonable best efforts to (x) cause to be filed with the SEC an Exchange Offer Registration
Statement covering an offer to the Holders to exchange all the Registrable Securities for Exchange
Securities and (y) have such Registration Statement become and remain effective until 180 days
after the last Exchange Date for use by one or more Participating Broker-Dealers. The Company and
the Guarantors shall commence the Exchange Offer for each series promptly after the Exchange Offer
Registration Statement is declared effective by the SEC and use their reasonable best efforts to
complete the Exchange Offer for such series not later than 60 days after such effective date.

     The Company and the Guarantors shall commence the Exchange Offer for each series by mailing
the related Prospectus, appropriate letters of transmittal and other accompanying documents, if
any, to each Holder stating, in addition to such other disclosures as are required by applicable
law, substantially the following:

	(i)	 	that the Exchange Offer is being made pursuant to this Agreement and that all Registrable
Securities of such series validly tendered and not properly withdrawn will be accepted for
exchange;
	 
	(ii)	 	the dates of acceptance for exchange (which shall be a period of at least 20 Business Days
from the date such notice is mailed (or longer if required by applicable law)) (the
“Exchange Dates”);
	 
	(iii)	 	that any Registrable Security not tendered will remain outstanding and continue to accrue
interest but will not retain any rights under this Agreement, except as otherwise specified
herein;
	 
	(iv)	 	that any Holder electing to have a Registrable Security of a series exchanged pursuant to the
Exchange Offer for such series will be required

6

 

	 	 	to (A) surrender such Registrable Security, together with the appropriate letters of
transmittal, to the institution and at the address and in the manner specified in the
notice, or (B) effect such exchange otherwise in compliance with the applicable
procedures of the depositary for such Registrable Security, in each case prior to the
close of business on the last Exchange Date with respect to such Exchange Offer; and
	(v)	 	that any Holder of Registrable Securities of a series will be entitled to withdraw its
election, not later than the close of business on the last Exchange Date with respect to the
Exchange Offer for such series, by (A) sending to the institution and at the address specified
in the notice, a telegram, facsimile transmission or letter setting forth the name of such
Holder, the principal amount of Registrable Securities delivered for exchange and a statement
that such Holder is withdrawing its election to have such Securities exchanged or (B)
effecting such withdrawal in compliance with the applicable procedures of the depositary for
the Registrable Securities.

     As a condition to participating in the Exchange Offer, a Holder will be required to represent
to the Company and the Guarantors that prior to the consummation of the Exchange Offer (which
representation shall be contained in the letter of transmittal or other document accompanying the
Exchange Offer Registration Statement) (1) any Exchange Securities to be received by it will be
acquired in the ordinary course of its business, (2) at the time of the commencement of the
Exchange Offer it has no arrangement or understanding with any Person to participate in the
distribution (within the meaning of the Securities Act) of the Exchange Securities in violation of
the provisions of the Securities Act, (3) it is not an “affiliate” (within the meaning of Rule 405
under the Securities Act) of the Company or any Guarantor and (4) if such Holder is a broker-dealer
that will receive Exchange Securities for its own account in exchange for Registrable Securities
that were acquired as a result of market-making or other trading activities, then such Holder will
deliver a Prospectus (or, to the extent permitted by law, make available a Prospectus to
purchasers) in connection with any resale of such Exchange Securities.

     As soon as practicable after the last Exchange Date with respect to an Exchange Offer for
Registrable Securities of a series, the Company and the Guarantors shall use their reasonable
best efforts:

	(I)	 	accept for exchange Registrable Securities of such series or portions thereof validly
tendered and not properly withdrawn pursuant to such Exchange Offer; and
	 
	(II)	 	deliver, or cause to be delivered, to the Trustee for cancellation all Registrable Securities
of such series or portions thereof so accepted for exchange by the Company and issue, and
cause the Trustee to promptly authenticate and deliver to each Holder, Exchange Securities of
such

7

 

	 	 	series equal in principal amount to the principal amount of the Registrable Securities of
such series validly tendered by such Holder and accepted for exchange pursuant to such
Exchange Offer.

     The Company and the Guarantors shall use their reasonable best efforts to complete the
Exchange Offer as provided above and shall comply with the applicable requirements of the
Securities Act, the Exchange Act and other applicable laws and regulations in connection with the
Exchange Offer. The Exchange Offer shall not be subject to any conditions, other than that the
Exchange Offer does not violate any applicable law or applicable interpretations of the Staff.

     (b) In the event that (i) the Company and the Guarantors determine that the Exchange Offer
Registration provided for in Section 2(a) hereof is not available or the Exchange Offer for
Registrable Securities of a series may not be completed as soon as practicable after the last
Exchange Date with respect to such Exchange Offer because it would violate any applicable law or
applicable interpretations of the Staff, (ii) the Exchange Offer is not for any other reason
completed by the Target Registration Date or (iii) upon receipt of a written request (a “Shelf
Request”) from any Initial Purchaser representing that it holds Registrable Securities of the
applicable series that are or were ineligible to be exchanged in the Exchange Offer, the Company
and the Guarantors shall use their reasonable best efforts to cause to be filed as soon as
practicable after such determination, date or Shelf Request, as the case may be, a Shelf
Registration Statement providing for the sale of all the Registrable Securities of such series by
the Holders thereof and to have such Shelf Registration Statement become effective;
provided that no Holder will be entitled to have any Registrable Securities included in any
Shelf Registration Statement, or entitled to use the prospectus forming a part of such Shelf
Registration Statement, until such Holder shall have delivered a completed and signed Notice and
Questionnaire and provided such other information regarding such Holder to the Company as is
contemplated by Section 3(b) hereof.

     In the event that the Company and the Guarantors are required to file a Shelf Registration
Statement pursuant to clause (iii) of the preceding sentence, the Company and the Guarantors shall
use their reasonable best efforts to file and have become effective both an Exchange Offer
Registration Statement pursuant to Section 2(a) hereof with respect to all Registrable Securities
and a Shelf Registration Statement (which may be a combined Registration Statement with the
Exchange Offer Registration Statement) with respect to offers and sales of Registrable Securities
held by the Initial Purchasers after completion of the Exchange Offer.

     The Company and the Guarantors agree to use their reasonable best efforts to keep the Shelf
Registration Statement continuously effective until the Securities cease to be Registrable
Securities (the “Shelf Effectiveness Period”). The Company and the Guarantors further
agree to supplement or amend the

8

 

Shelf Registration Statement, the related Prospectus and any Free Writing Prospectus if required by
the rules, regulations or instructions applicable to the registration form used by the Company for
such Shelf Registration Statement or by the Securities Act or by any other rules and regulations
thereunder or if reasonably requested by a Holder of Registrable Securities with respect to
information relating to such Holder, and to use their reasonable best efforts to cause any such
amendment to become effective, if required, and such Shelf Registration Statement, Prospectus or
Free Writing Prospectus, as the case may be, to become usable as soon as thereafter practicable.
The Company and the Guarantors agree to furnish to the Participating Holders copies of any such
supplement or amendment promptly after its being used or filed with the SEC.

     (c) The Company and the Guarantors shall pay all Registration Expenses in connection with
any registration pursuant to Section 2(a) or Section 2(b) hereof. Each Holder shall pay all
underwriting discounts and commissions, brokerage commissions and transfer taxes, if any,
relating to the sale or disposition of such Holder’s Registrable Securities pursuant to the
Shelf Registration Statement.

     (d) An Exchange Offer Registration Statement pursuant to Section 2(a) hereof will not be
deemed to have become effective unless it has been declared effective by the SEC. A Shelf
Registration Statement pursuant to Section 2(b) hereof will not be deemed to have become effective
unless it has been declared effective by the SEC or is automatically effective upon filing with the
SEC as provided by Rule 462 under the Securities Act.

     If a Registration Default occurs, with respect to a series of Registrable Securities the
interest rate on the Registrable Securities of such series will be increased by (i) 0.25% per annum
for the first 90-day period beginning on the day immediately following such Registration Default
and (ii) an additional 0.25% per annum with respect to each subsequent 90-day period, in each case
until and including the date such Registration Default ends, up to a maximum increase of 1.00% per
annum. A Registration Default ends when the Securities of such series cease to be Registrable
Securities or, if earlier, (1) in the case of a Registration Default under clause (i) of the
definition thereof, when the Exchange Offer for such series is completed, (2) in the case of a
Registration Default under clause (ii) or clause (iii) of the definition thereof, when the Shelf
Registration Statement becomes effective or (3) in the case of a Registration Default under clause
(iv) or clause (v) of the definition thereof, when the Shelf Registration Statement again becomes
effective or the Prospectus again becomes usable. If at any time more than one Registration Default
has occurred and is continuing, then, until the next date that there is no Registration Default,
the increase in interest rate provided for by this paragraph shall apply as if there occurred a
single Registration Default that begins on the date that the earliest such Registration Default
occurred and ends on such next date that there is no Registration Default.

9

 

     (e) Without limiting the remedies available to the Initial Purchasers and the Holders, the
Company and the Guarantors acknowledge that any failure by the Company or the Guarantors to comply
with their obligations under Section 2(a) and Section 2(b) hereof may result in material
irreparable injury to the Initial Purchasers or the Holders for which there is no adequate remedy
at law, that it will not be possible to measure damages for such injuries precisely and that, in
the event of any such failure, the Initial Purchasers or any Holder may obtain such relief as may
be required to specifically enforce the Company’s and the Guarantors’ obligations under Section
2(a) and Section 2(b) hereof.

     3. Registration Procedures. (a) In connection with their obligations pursuant to
Section 2(a) and Section 2(b) hereof, the Company and the Guarantors shall as soon as
practicable:

     (i) prepare and file with the SEC a Registration Statement on the appropriate form under the
Securities Act, which form (A) shall be selected by the Company and the Guarantors, (B) shall, in
the case of a Shelf Registration, be available for the sale of the Registrable Securities by the
Holders thereof and (C) shall comply as to form in all material respects with the requirements of
the applicable form and include all financial statements required by the SEC to be filed therewith;
and use their reasonable best efforts to cause such Registration Statement to become effective and
remain effective for the applicable period in accordance with Section 2 hereof;

     (ii) prepare and file with the SEC such amendments and post-effective amendments to each
Registration Statement as may be necessary to keep such Registration Statement effective for the
applicable period in accordance with Section 2 hereof and cause each Prospectus to be supplemented
by any required prospectus supplement and, as so supplemented, to be filed pursuant to Rule 424
under the Securities Act; and keep each Prospectus current during the period described in Section
4(3) of and Rule 174 under the Securities Act that is applicable to transactions by brokers or
dealers with respect to the Registrable Securities or Exchange Securities;

     (iii) to the extent any Free Writing Prospectus is used, file with the SEC any Free Writing
Prospectus that is required to be filed by the Company or the Guarantors with the SEC in accordance
with the Securities Act and to retain any Free Writing Prospectus not required to be filed;

     (iv) in the case of a Shelf Registration, furnish to each Participating Holder, to counsel for
the Initial Purchasers (if any Registrable Securities held by the Initial Purchasers are included
in such Registration Statement), to counsel for such Participating Holders and to each Underwriter
of an Underwritten Offering of Registrable Securities, if any, without charge, as many copies of
each Prospectus, preliminary prospectus or Free Writing Prospectus, and any amendment or supplement
thereto, as such Participating Holder, counsel or Underwriter may reasonably request in order to
facilitate the sale or other

10

 

disposition of the Registrable Securities thereunder; and, subject to Section 3(c)
hereof, the Company and the Guarantors consent to the use of such Prospectus, preliminary
prospectus or such Free Writing Prospectus and any amendment or supplement thereto in accordance
with applicable law by each of the Participating Holders and any such Underwriters in connection
with the offering and sale of the Registrable Securities covered by and in the manner described
in such Prospectus, preliminary prospectus or such Free Writing Prospectus or any amendment or
supplement thereto in accordance with applicable law;

     (v) use their reasonable best efforts to register or qualify the Registrable Securities
under all applicable state securities or blue sky laws of such jurisdictions as any
Participating Holder shall reasonably request in writing by the time the applicable Registration
Statement becomes effective; cooperate with such Participating Holders in connection with any
filings required to be made with FINRA; and do any and all other acts and things that may be
reasonably necessary or advisable to enable each Participating Holder to complete the
disposition in each such jurisdiction of the Registrable Securities owned by such Participating
Holder; provided that neither the Company nor any Guarantor shall be required to (1)
qualify as a foreign corporation or other entity or as a dealer in securities in any such
jurisdiction where it would not otherwise be required to so qualify, (2) file any general
consent to service of process in any such jurisdiction, (3) subject itself to taxation in any
such jurisdiction if it is not so subject or (4) make any changes to its incorporating
organization documents;

     (vi) notify counsel for the Initial Purchasers and, in the case of a Shelf Registration,
notify each Participating Holder and counsel for such Participating Holders promptly and, if
requested by any such Participating Holder or counsel, confirm such advice in writing (1) when a
Registration Statement has become effective, when any post-effective amendment thereto has been
filed and becomes effective, when any Free Writing Prospectus has been filed or any amendment or
supplement to the Prospectus or any Free Writing Prospectus has been filed, (2) of any request
by the SEC or any state securities authority for amendments and supplements to a Registration
Statement, Prospectus or any Free Writing Prospectus or for additional information after the
Registration Statement has become effective, (3) of the issuance by the SEC or any state
securities authority of any stop order suspending the effectiveness of a Registration Statement
or the initiation of any proceedings for that purpose, including the receipt by the Company of
any notice of objection of the SEC to the use of a Shelf Registration Statement or any
post-effective amendment thereto pursuant to Rule 401(g)(2) under the Securities Act, (4) if,
between the applicable effective date of a Shelf Registration Statement and the closing of any
sale of Registrable Securities covered thereby, the representations and warranties of the
Company or any Guarantor contained in any underwriting agreement, securities sales agreement or
other similar agreement, if any, relating to an offering of such Registrable Securities cease to
be true and correct in all material respects or if the Company or any Guarantor receives any
notification with respect to the suspension of the qualification of the Registrable Securities
for sale in any

11

 

jurisdiction or the initiation of any proceeding for such purpose, (5) of the happening of any
event during the period a Registration Statement is effective that makes any statement made in
such Registration Statement or the related Prospectus or any Free Writing Prospectus untrue in
any material respect or that requires the making of any changes in such Registration Statement
or Prospectus or any Free Writing Prospectus in order to make the statements therein not
misleading and (6) of any determination by the Company or any Guarantor that a post-effective
amendment to a Registration Statement or any amendment or supplement to the Prospectus or any
Free Writing Prospectus would be appropriate;

     (vii) use their reasonable best efforts to obtain the withdrawal of any order suspending
the effectiveness of a Registration Statement or, in the case of a Shelf Registration, the
resolution of any objection of the SEC pursuant to Rule 401(g)(2) under the Securities Act,
including by filing an amendment to such Registration Statement on the proper form, at the
earliest possible moment and provide immediate notice to each Holder or Participating Holder of
the withdrawal of any such order or such resolution;

     (viii) in the case of a Shelf Registration, furnish to each Participating Holder,
without charge, at least one conformed copy of each Registration Statement and any
post-effective amendment thereto (without any documents incorporated therein by reference or
exhibits thereto, unless requested);

     (ix) in the case of a Shelf Registration, cooperate with the Participating Holders to
facilitate the timely preparation and delivery of certificates representing Registrable
Securities to be sold and not bearing any restrictive legends and enable such Registrable
Securities to be issued in such denominations and registered in such names (consistent with the
provisions of the Indenture) as such Participating Holders may reasonably request at least one
Business Day prior to the closing of any sale of Registrable Securities;

     (x) upon the occurrence of any event contemplated by
Section 3(a)(vi)(5) hereof, use their reasonable best efforts to prepare and file with the SEC a
supplement or post-effective amendment to the applicable Exchange Offer Registration Statement
or Shelf Registration Statement or the related Prospectus or any Free Writing Prospectus or any
document incorporated therein by reference or file any other required document so that, as
thereafter delivered (or, to the extent permitted by law, made available) to purchasers of the
Registrable Securities, such Prospectus or Free Writing Prospectus, as the case may be, will not
contain any untrue statement of a material fact or omit to state a material fact necessary to
make the statements therein, in the light of the circumstances under which they were made, not
misleading; and the Company and the Guarantors shall notify the Participating Holders (in the
case of a Shelf Registration Statement) and the Initial Purchasers and any Participating
Broker-Dealers known to the Company (in the case of an Exchange Offer Registration Statement) to
suspend use of the Prospectus or any Free Writing Prospectus as

12

 

promptly as practicable after the occurrence of such an event, and such Participating Holders,
such Participating Broker-Dealers and the Initial Purchasers, as applicable, hereby agree to
suspend use of the Prospectus or any Free Writing Prospectus, as the case may be, until the
Company and the Guarantors have amended or supplemented the Prospectus or the Free Writing
Prospectus, as the case may be, to correct such misstatement or omission;

     (xi) a reasonable time prior to the filing of any Registration Statement, any Prospectus,
any Free Writing Prospectus, any amendment to a Registration Statement or amendment or
supplement to a Prospectus or a Free Writing Prospectus or of any document that is to be
incorporated by reference into a Registration Statement, a Prospectus or a Free Writing
Prospectus after initial filing of a Registration Statement, provide copies of such document to
the Initial Purchasers and their counsel (and, in the case of a Shelf Registration Statement, to
the Participating Holders and their counsel) and make such of the representatives of the Company
and the Guarantors as shall be reasonably requested by the Initial Purchasers or their counsel
(and, in the case of a Shelf Registration Statement, the Participating Holders or their counsel)
available for discussion of such document; and the Company and the Guarantors shall not, at any
time after initial filing of a Registration Statement, use or file any Prospectus, any Free
Writing Prospectus, any amendment of or supplement to a Registration Statement or a Prospectus
or a Free Writing Prospectus, or any document that is to be incorporated by reference into a
Registration Statement, a Prospectus or a Free Writing Prospectus, of which the Initial
Purchasers and their counsel (and, in the case of a Shelf Registration Statement, the
Participating Holders and their counsel) shall not have previously been advised and furnished a
copy or to which the Initial Purchasers or their counsel (and, in the case of a Shelf
Registration Statement, the Participating Holders or their counsel) shall reasonably object
within a reasonable time after receipt thereof, unless counsel to the Company advises that such
Prospectus or Free Writing Prospectus or document that is to be incorporated by reference into a
Registration Statement is required, in the opinion of counsel to the Company, by applicable
laws;

     (xii) obtain a CUSIP number for all Exchange Securities of each series or Registrable
Securities of each series, as the case may be, not later than the initial effective date of a
Registration Statement covering such Exchange Securities or Registrable Securities;

     (xiii) cause the Indenture to be qualified under the Trust Indenture Act in connection with
the registration of the Exchange Securities or Registrable Securities, as the case may be;
cooperate with the Trustee and the Holders to effect such changes to the Indenture as may be
required for the Indenture to be so qualified in accordance with the terms of the Trust
Indenture Act; and execute, and use their reasonable best efforts to cause the Trustee to
execute, all documents as may be required to effect such changes and all other forms and
documents required to be filed with the SEC to enable the Indenture to be so qualified in a
timely manner;

13

 

     (xiv) in the case of a Shelf Registration, make available for inspection by a
representative of the Participating Holders (an “Inspector”), any Underwriter
participating in any disposition pursuant to such Shelf Registration Statement, any attorneys
and accountants designated by a majority in aggregate principal amount of the Securities held by
the Participating Holders and any attorneys and accountants designated by such Underwriter, at
reasonable times and in a reasonable manner, all pertinent financial and other records,
documents and properties of the Company and its subsidiaries, and cause the respective officers,
directors and employees of the Company and the Guarantors to supply all information reasonably
requested by any such Inspector, Underwriter, attorney or accountant in connection with a Shelf
Registration Statement; provided that if any such information is identified by the Company or
any Guarantor as being confidential or proprietary, each Person receiving such information shall
take such actions as are reasonably necessary to protect the confidentiality of such information
to the extent such action is otherwise not inconsistent with, an impairment of or in derogation
of the rights and interests of any Inspector, Holder or Underwriter);

     (xv) in the case of a Shelf Registration, use their reasonable best efforts to cause all
Registrable Securities to be listed on any securities exchange or any automated quotation system
on which similar securities issued or guaranteed by the Company or any Guarantor are then listed
if requested by the Majority Holders, to the extent such Registrable Securities satisfy
applicable listing requirements;

     (xvi) if reasonably requested by any Participating Holder, promptly include in a Prospectus
supplement or post-effective amendment such information with respect to such Participating
Holder as such Participating Holder reasonably requests to be included therein and make all
required filings of such Prospectus supplement or such post-effective amendment as soon as the
Company has received notification of the matters to be so included in such filing;

     (xvii) in the case of a Shelf Registration, enter into such customary agreements and take
all such other actions in connection therewith (including those requested by the Holders of a
majority in principal amount of the Registrable Securities covered by the Shelf Registration
Statement) in order to expedite or facilitate the disposition of such Registrable Securities
including, but not limited to, an Underwritten Offering and in such connection, (1) to the
extent possible, make such representations and warranties to the Participating Holders and any
Underwriters of such Registrable Securities with respect to the business of the Company and its
subsidiaries and the Registration Statement, Prospectus, any Free Writing Prospectus and
documents incorporated by reference or deemed incorporated by reference, if any, in each case,
in form, substance and scope as are customarily made by issuers to underwriters in underwritten
offerings and confirm the same if and when required by the applicable underwriting agreement,
(2) obtain opinions of counsel to the Company and the Guarantors (which counsel and opinions, in
form, scope and substance, shall be

14

 

reasonably satisfactory to the Participating Holders and such Underwriters and their respective
counsel) addressed to each Participating Holder and Underwriter of Registrable Securities, in
customary form subject to customary limitations, assumptions and exclusions and covering the
matters customarily covered in opinions requested in underwritten offerings, (3) obtain
“comfort” letters from the independent registered public accountants of the Company and the
Guarantors (and, if necessary, any other registered public accountant of any subsidiary of the
Company or any Guarantor, or of any business acquired by the Company or any Guarantor for which
financial statements and financial data are or are required to be included in the Registration
Statement) addressed to each Participating Holder (to the extent permitted by applicable
professional standards) and Underwriter of Registrable Securities, such letters to be in
customary form and covering matters of the type customarily covered in “comfort” letters in
connection with underwritten offerings, including but not limited to financial information
contained in any preliminary prospectus, Prospectus or Free Writing Prospectus and (4) deliver
such documents and certificates as may be reasonably requested by the Holders of a majority in
principal amount of the Registrable Securities being sold or the Underwriters, and which are
customarily delivered in underwritten offerings, to evidence the continued validity of the
representations and warranties of the Company and the Guarantors made pursuant to clause (1)
above and to evidence compliance with any customary conditions contained in the applicable
underwriting agreement; and

     (xviii) so long as any Registrable Securities remain outstanding, cause each Additional
Guarantor upon the creation or acquisition by the Company of such Additional Guarantor, to
execute a counterpart to this Agreement in the form attached hereto as Annex A and to deliver
such counterpart, together with an opinion of counsel as to the enforceability thereof
against such entity, to the Initial Purchasers no later than five Business Days following the
execution thereof.

     (b) In the case of a Shelf Registration Statement, the Company may require each Holder of
Registrable Securities to furnish to the Company a Notice and Questionnaire and such other
information regarding such Holder and the proposed disposition by such Holder of such
Registrable Securities as the Company and the Guarantors may from time to time reasonably
request in writing. For greater certainty, the Company and the Guarantors shall be entitled to
refuse to include for registration the Registrable Securities held by a Holder who fails to
comply with such request and such Holder shall not be entitled to include for registration its
Registrable Securities until it provides such information.

     (c) Each Participating Holder agrees that, upon receipt of any notice from the Company and
the Guarantors of the happening of any event of the kind described in Section 3(a)(vi)(3) or
Section 3(a)(vi)(5) hereof, such Participating Holder will forthwith discontinue disposition of
Registrable Securities pursuant to the Shelf Registration Statement until such Participating
Holder’s receipt of the copies of the supplemented or amended Prospectus and any Free Writing

15

 

Prospectus contemplated by Section 3(a)(x) hereof and, if so directed by the Company and the
Guarantors, such Participating Holder will deliver to the Company and the Guarantors all copies
in its possession, other than permanent file copies then in such Participating Holder’s
possession, of the Prospectus and any Free Writing Prospectus covering such Registrable
Securities that is current at the time of receipt of such notice.

     (d) If the Company and the Guarantors shall give any notice to suspend the disposition of
Registrable Securities pursuant to a Registration Statement, the Company and the Guarantors
shall extend the period during which such Registration Statement shall be maintained effective
pursuant to this Agreement by the number of days during the period from and including the date
of the giving of such notice to and including the date when the Holders of such Registrable
Securities shall have received copies of the supplemented or amended Prospectus or any Free
Writing Prospectus necessary to resume such dispositions. The Company and the Guarantors may
give any such notice only twice during any 365-day period and any such suspensions shall not
exceed 30 days for each suspension and there shall not be more than two suspensions in effect
during any 365-day period.

     (e) The Participating Holders who desire to do so may sell such Registrable Securities in
an Underwritten Offering. In any such Underwritten Offering, the investment bank or investment
banks and manager or managers (each an “Underwriter”) that will administer the offering
will be selected by the Holders of a majority in principal amount of the Registrable Securities
included in such offering.

     4. Participation of Broker-Dealers in Exchange Offer. (a) The Staff has taken the
position that any broker-dealer that receives Exchange Securities for its own account in the
Exchange Offer in exchange for Securities that were acquired by such broker-dealer as a result
of market-making or other trading activities (a “Participating Broker-Dealer”) may be
deemed to be an “underwriter” within the meaning of the Securities Act and must deliver a
prospectus meeting the requirements of the Securities Act in connection with any resale of such
Exchange Securities.

     The Company and the Guarantors understand that it is the Staff’s position that if the
Prospectus contained in the Exchange Offer Registration Statement includes a plan of
distribution containing a statement to the above effect and the means by which Participating
Broker-Dealers may resell the Exchange Securities, without naming the Participating
Broker-Dealers or specifying the amount of Exchange Securities owned by them, such Prospectus
may be delivered by Participating Broker-Dealers (or, to the extent permitted by law, made
available to purchasers) to satisfy their prospectus delivery obligation under the Securities
Act in connection with resales of Exchange Securities for their own accounts, so long as the
Prospectus otherwise meets the requirements of the Securities Act.

16

 

     (b) In light of the above, and notwithstanding the other provisions of this Agreement, the
Company and the Guarantors agree to amend or supplement the Prospectus contained in the Exchange
Offer Registration Statement for a period of up to 180 days after the last Exchange Date (as
such period may be extended pursuant to Section 3(d) hereof), in order to expedite or facilitate
the disposition of any Exchange Securities by Participating Broker-Dealers consistent with the
positions of the Staff recited in Section 4(a) above. The Company and the Guarantors further
agree that Participating Broker-Dealers shall be authorized to deliver such Prospectus (or, to
the extent permitted by law, make available) during such period in connection with the resales
contemplated by this Section 4.

     (c) The Initial Purchasers shall have no liability to the Company, any Guarantor or any
Holder with respect to any request that they may make pursuant to Section 4(b) hereof.

     5. Indemnification and Contribution. (a) The Company and each Guarantor, jointly
and severally, agree to indemnify and hold harmless each Initial Purchaser and each Holder,
their respective affiliates, directors and officers and each Person, if any, who controls any
Initial Purchaser or any Holder within the meaning of Section 15 of the Securities Act or
Section 20 of the Exchange Act, from and against any and all losses, claims, damages and
liabilities (including, without limitation, legal fees and other expenses incurred in connection
with any suit, action or proceeding or any claim asserted, as such fees and expenses are
incurred), joint or several, that arise out of, or are based upon, (1) any untrue statement or
alleged untrue statement of a material fact contained in any Registration Statement or any
omission or alleged omission to state therein a material fact required to be stated therein or
necessary in order to make the statements therein not misleading, or (2) any untrue statement or
alleged untrue statement of a material fact contained in any Prospectus, any Free Writing
Prospectus or any “issuer information” (“Issuer Information”) filed or required to be
filed pursuant to Rule 433(d) under the Securities Act, or any omission or alleged omission to
state therein a material fact necessary in order to make the statements therein, in the light of
the circumstances under which they were made, not misleading, in each case except insofar as
such losses, claims, damages or liabilities arise out of, or are based upon, any untrue
statement or omission or alleged untrue statement or omission made in reliance upon and in
conformity with any information relating to any Initial Purchaser or information relating to any
Holder furnished to the Company in writing through the Representatives or any selling Holder,
respectively, expressly for use therein. In connection with any Underwritten Offering permitted
by Section 3, the Company and the Guarantors, jointly and severally, will also indemnify the
Underwriters, if any, selling brokers, dealers and similar securities industry professionals
participating in the distribution, their respective affiliates and each Person who controls such
Persons (within the meaning of the Securities Act and the Exchange Act) to the same extent as
provided above with respect to the indemnification of the Holders, if requested in connection
with any Registration

17

 

Statement, any Prospectus, any Free Writing Prospectus or any Issuer Information.

     (b) Each Holder agrees, severally and not jointly, to indemnify and hold harmless the
Company, the Guarantors, the Initial Purchasers and the other selling Holders, the directors of
the Company and the Guarantors, each officer of the Company and the Guarantors who signed the
Registration Statement and each Person, if any, who controls the Company, the Guarantors, any
Initial Purchaser and any other selling Holder within the meaning of Section 15 of the
Securities Act or Section 20 of the Exchange Act to the same extent as the indemnity set forth
in paragraph (a) above, but only with respect to any losses, claims, damages or liabilities that
arise out of, or are based upon, any untrue statement or omission or alleged untrue statement or
omission made in reliance upon and in conformity with any information relating to such Holder
furnished to the Company in writing by such Holder expressly for use in any Registration
Statement, any Prospectus and any Free Writing Prospectus.

     (c) If any suit, action, proceeding (including any governmental or regulatory
investigation), claim or demand shall be brought or asserted against any Person in respect of
which indemnification may be sought pursuant to either paragraph (a) or (b) above, such Person
(the “Indemnified Person”) shall promptly notify the Person against whom such
indemnification may be sought (the “Indemnifying Person”) in writing; provided
that the failure to notify the Indemnifying Person shall not relieve it from any liability that
it may have under paragraph (a) or (b) above except to the extent that it has been materially
prejudiced (through the forfeiture of substantive rights or defenses) by such failure; and
provided, further, that the failure to notify the Indemnifying Person shall not
relieve it from any liability that it may have to an Indemnified Person otherwise than under
paragraph (a) or (b) above. If any such proceeding shall be brought or asserted against an
Indemnified Person and it shall have notified the Indemnifying Person thereof, the Indemnifying
Person shall retain counsel reasonably satisfactory to the Indemnified Person to represent the
Indemnified Person and any others entitled to indemnification pursuant to this Section 5 that
the Indemnifying Person may designate in such proceeding and shall pay the fees and expenses of
such proceeding and shall pay the fees and expenses of such counsel related to such proceeding,
as incurred. In any such proceeding, any Indemnified Person shall have the right to retain its
own counsel, but the fees and expenses of such counsel shall be at the expense of such
Indemnified Person unless (i) the Indemnifying Person and the Indemnified Person shall have
mutually agreed to the contrary; (ii) the Indemnifying Person has failed within a reasonable
time to retain counsel reasonably satisfactory to the Indemnified Person; (iii) the Indemnified
Person shall have reasonably concluded that there may be legal defenses available to it that are
different from or in addition to those available to the Indemnifying Person; or (iv) the named
parties in any such proceeding (including any impleaded parties) include both the Indemnifying
Person and the Indemnified Person and representation of both parties by the same counsel would
be inappropriate due to actual or potential differing interests

18

 

between them. It is understood and agreed that the Indemnifying Person shall not, in connection
with any proceeding or related proceeding in the same jurisdiction, be liable for the fees and
expenses of more than one separate firm (in addition to any local counsel) for all Indemnified
Persons, and that all such fees and expenses shall be reimbursed as they are incurred. Any such
separate firm (x) for any Initial Purchaser, its affiliates, directors and officers and any
control Persons of such Initial Purchaser shall be designated in writing by the Representatives,
(y) for any Holder, its directors and officers and any control Persons of such Holder shall be
designated in writing by the Majority Holders and (z) in all other cases shall be designated in
writing by the Company. The
Indemnifying Person shall not be liable for any settlement of any proceeding effected without
its written consent, but if settled with such consent or if there be a final judgment for the
plaintiff, the Indemnifying Person agrees to indemnify each Indemnified Person from and against
any loss or liability by reason of such settlement or judgment. No Indemnifying Person shall,
without the written consent of the Indemnified Person, effect any settlement of any pending or
threatened proceeding in respect of which any Indemnified Person is or could have been a party
and indemnification could have been sought hereunder by such Indemnified Person, unless such
settlement (A) includes an unconditional release of such Indemnified Person, in form and
substance reasonably satisfactory to such Indemnified Person, from all liability on claims that
are the subject matter of such proceeding and (B) does not include any statement as to or any
admission of fault, culpability or a failure to act by or on behalf of any Indemnified Person.

     (d) If the indemnification provided for in paragraphs (a) and (b) above is unavailable to
an Indemnified Person or insufficient in respect of any losses, claims, damages or liabilities
referred to therein, then each Indemnifying Person under such paragraph, in lieu of indemnifying
such Indemnified Person thereunder, shall contribute to the amount paid or payable by such
Indemnified Person as a result of such losses, claims, damages or liabilities (i) in such
proportion as is appropriate to reflect the relative benefits received by the Company and the
Guarantors from the offering of the Securities and the Exchange Securities, on the one hand, and
by the Holders from receiving Securities or Exchange Securities registered under the Securities
Act, on the other hand, or (ii) if the allocation provided by clause (i) is not permitted by
applicable law, in such proportion as is appropriate to reflect not only the relative benefits
referred to in clause (i) but also the relative fault of the Company and the Guarantors on the
one hand and the Holders on the other in connection with the statements or omissions that
resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable
considerations. The relative fault of the Company and the Guarantors on the one hand and the
Holders on the other shall be determined by reference to, among other things, whether the untrue
or alleged untrue statement of a material fact or the omission or alleged omission to state a
material fact relates to information supplied by the Company and the Guarantors or by the
Holders and the parties’ relative intent, knowledge,

19

 

access to information and opportunity to correct or prevent such statement or omission.

     (e) The Company, the Guarantors and the Holders agree that it would not be just and
equitable if contribution pursuant to this Section 5 were determined by pro rata
allocation (even if the Holders were treated as one entity for such purpose) or by any other
method of allocation that does not take account of the equitable considerations referred to in
paragraph (d) above. The amount paid or payable by an Indemnified Person as a result of the
losses, claims, damages and liabilities referred to in paragraph (d) above shall be deemed to
include, subject to the limitations set forth above, any legal or other expenses incurred by
such Indemnified Person in connection with any such action or claim. Notwithstanding the
provisions of this Section 5, in no event shall a Holder be required to contribute any amount in
excess of the amount by which the total price at which the Securities or Exchange Securities
sold by such Holder exceeds the amount of any damages that such Holder has otherwise been
required to pay by reason of such untrue or alleged untrue statement or omission or alleged
omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f)
of the Securities Act) shall be entitled to contribution from any Person who was not guilty of
such fraudulent misrepresentation. The Holders’ obligations to contribute pursuant to this
Section 5 are several and not joint.

     (f) The remedies provided for in this Section 5 are not exclusive and shall not limit
any rights or remedies that may otherwise be available to any Indemnified Person at law or in
equity.

     (g) The indemnity and contribution provisions contained in this Section 5 shall remain
operative and in full force and effect regardless of (i) any termination of this Agreement, (ii)
any investigation made by or on behalf of the Initial Purchasers or any Holder or any Person
controlling any Initial Purchaser or any Holder, or by or on behalf of the Company or the
Guarantors or the officers or directors of or any Person controlling the Company or the
Guarantors, (iii) acceptance of any of the Exchange Securities and (iv) any sale of Registrable
Securities pursuant to a Shelf Registration Statement.

     6. General.

     (a) No Inconsistent Agreements. The Company and the Guarantors represent, warrant and
agree that (i) the rights granted to the Holders hereunder do not in any way conflict with and
are not inconsistent with the rights granted to the holders of any other outstanding securities
issued or guaranteed by the Company or any Guarantor under any other agreement and (ii) neither
the Company nor any Guarantor has entered into, or on or after the date of this Agreement will
enter into, any agreement that is inconsistent with the rights granted to the Holders of
Registrable Securities in this Agreement or otherwise conflicts with the provisions hereof.

20

 

     (b) Amendments and Waivers. The provisions of this Agreement, including the provisions of
this sentence, may not be amended, modified or supplemented, and waivers or consents to
departures from the provisions hereof may not be given unless the Company and the Guarantors
have obtained the written consent of Holders of at least a majority in aggregate principal
amount of the outstanding Registrable Securities affected by such amendment, modification,
supplement, waiver or consent; provided that no amendment, modification, supplement,
waiver or consent to any departure from the provisions of Section 5 hereof shall be effective as
against any Holder of Registrable Securities unless consented to in writing by such Holder. Any
amendments, modifications, supplements, waivers or consents pursuant to this Section 6(b) shall
be by a writing executed by each of the parties hereto.

     (c) Notices. All notices and other communications provided for or permitted hereunder
shall be made in writing by hand-delivery, registered first-class mail, telecopier, or any
courier guaranteeing overnight delivery (i) if to a Holder, at the most current address given
by such Holder to the Company by means of a notice given in accordance with the provisions of
this Section 6(c), which address initially is, with respect to the Initial Purchasers, the
address set forth in the Purchase Agreement; (ii) if to the Company and the Guarantors,
initially at the Company’s address set forth in the Purchase Agreement and thereafter at such
other address, notice of which is given in accordance with the provisions of this Section
6(c); and (iii) to such other persons at their respective addresses as provided in the
Purchase Agreement and thereafter at such other address, notice of which is given in
accordance with the provisions of this Section 6(c). All such notices and communications shall
be deemed to have been duly given: at the time delivered by hand, if personally delivered;
five Business Days after being deposited in the mail, postage prepaid, if mailed; when receipt
is acknowledged, if telecopied; and on the next Business Day if timely delivered to an air
courier guaranteeing overnight delivery. Copies of all such notices, demands or other
communications shall be concurrently delivered by the Person giving the same to the Trustee,
at the address specified in the Indenture.

     (d) Successors and Assigns. This Agreement shall inure to the benefit of and be binding
upon the successors, assigns and transferees of each of the parties, including, without
limitation and without the need for an express assignment, subsequent Holders; provided
that nothing herein shall be deemed to permit any assignment, transfer or other disposition of
Registrable Securities in violation of the terms of the Purchase Agreement or the Indenture. If
any transferee of any Holder shall acquire Registrable Securities in any manner, whether by
operation of law or otherwise, such Registrable Securities shall be held subject to all the
terms of this Agreement, and by taking and holding such Registrable Securities such Person shall
be conclusively deemed to have agreed to be bound by and to perform all of the terms and
provisions of this Agreement and such Person shall be entitled to receive the benefits hereof.
The Initial Purchasers (in their capacity as Initial Purchasers) shall have no liability or

21

 

obligation to the Company or the Guarantors with respect to any failure by a Holder to comply
with, or any breach by any Holder of, any of the obligations of such Holder under this
Agreement.

     (e) Third Party Beneficiaries. Each Holder shall be a third party beneficiary to the
agreements made hereunder between the Company and the Guarantors, on the one hand, and the
Initial Purchasers, on the other hand, and shall have the right to enforce such agreements
directly to the extent it deems such enforcement necessary or advisable to protect its rights
or the rights of other Holders hereunder.

     (f) Counterparts. This Agreement may be executed in any number of counterparts and by the
parties hereto in separate counterparts, each of which when so executed shall be deemed to be
an original and all of which taken together shall constitute one and the same agreement.

     (g) Headings. The headings in this Agreement are for convenience of reference only, are
not a part of this Agreement and shall not limit or otherwise affect the meaning hereof.

     (h) Governing Law. This Agreement, and any claim, controversy or dispute arising under
or related to this Agreement, shall be governed by and construed in accordance with the laws
of the State of New York.

     (j) Entire Agreement; Severability. This Agreement contains the entire agreement between
the parties relating to the subject matter hereof and supersedes all oral statements and prior
writings with respect thereto. If any term, provision, covenant or restriction contained in this
Agreement is held by a court of competent jurisdiction to be invalid, void or unenforceable or
against public policy, the remainder of the terms, provisions, covenants and restrictions
contained herein shall remain in full force and effect and shall in no way be affected, impaired
or invalidated. The Company, the Guarantors and the Initial Purchasers shall endeavor in good
faith negotiations to replace the invalid, void or unenforceable provisions with valid
provisions the economic effect of which comes as close as possible to that of the invalid, void
or unenforceable provisions.

22

 

     IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above.

	 	 	 	 	 
	 	EXELIS INC.

 	 
	 	By  	/s/ Peter Milligan
 	 
	 	 	Name:  	Peter J. Milligan 	 
	 	 	Title:  	Chief Financial Officer 	 
	 
	 	ITT CORPORATION

 	 
	 	By  	/s/ Colleen Ostrowski
 	 
	 	 	Name:  	Colleen Ostrowski 	 
	 	 	Title:  	Vice President and Treasurer 	 

23

 

	 	 	 	 	 

Confirmed and accepted as of the date first above written:

BARCLAYS CAPITAL INC.

CITIGROUP GLOBAL MARKETS INC. 

J.P. MORGAN SECURITIES LLC

For themselves and on behalf of the

several Initial Purchasers

BARCLAYS CAPITAL INC.

	 	 	 	 	 
	 	 	 
	 	By  	/s/ Pamela Kendall
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 
	 	CITIGROUP GLOBAL MARKETS INC.

 	 
	 	By  	/s/ Brian D. Bednarski
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 
	 	J.P. MORGAN SECURITIES LLC

 	 
	 	By  	/s/ Maria Sramek
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 

24

 

	 	 	 	 	 

Annex A

Counterpart to Registration Rights Agreement

     The undersigned hereby absolutely, unconditionally and irrevocably agrees as a Guarantor
(as defined in the Registration Rights Agreement, dated September 20, 2011 by and among
Exelis Inc., an Indiana corporation, ITT Corporation, an Indiana corporation and Barclays
Capital Inc., Citigroup Global Markets Inc., and J.P. Morgan Securities LLC, on behalf of
themselves and the other Initial Purchasers) to be bound by the terms and provisions of such
Registration Rights Agreement.

     IN WITNESS WHEREOF, the undersigned has executed this counterpart as of _______________,
201__.

	 	 	 	 	 
	 	[GUARANTOR]

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:

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