Document:

EXHIBIT 4.14

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                              AMENDED AND RESTATED

                                 TRUST AGREEMENT

                                       of

                      ABN AMRO CAPITAL FUNDING TRUST [___]

                           Dated as of ______, _____

================================================================================

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                                TABLE OF CONTENTS

                                 --------------

                                                                            PAGE
                                                                            ----

                                    ARTICLE 1
                         INTERPRETATION AND DEFINITIONS

Section 1.01.  Definitions.....................................................1

                                    ARTICLE 2
                               TRUST INDENTURE ACT

Section 2.01.  Trust Indenture Act; Application...............................11
Section 2.02.  Lists of Holders of Trust Securities...........................12
Section 2.03.  Reports by the Property Trustee................................12
Section 2.04.  Periodic Reports to Property Trustee...........................12
Section 2.05.  Evidence of Compliance with Conditions Precedent...............12
Section 2.06.  Trust Enforcement Events; Waiver...............................12
Section 2.07.  Trust Enforcement Event; Notice................................14

                                    ARTICLE 3
                                  ORGANIZATION

Section 3.01.  Name...........................................................15
Section 3.02.  Office.........................................................15
Section 3.03.  Purpose........................................................15
Section 3.04.  Authority......................................................15
Section 3.05.  Title to Property of the Trust.................................15
Section 3.06.  Powers and Duties of the Regular Trustees......................16
Section 3.07.  Prohibition of Actions by the Trust and the Trustees...........18
Section 3.08.  Powers and Duties of the Property Trustee......................19
Section 3.09.  Certain Duties and Responsibilities of the Property Trustee....21
Section 3.10.  Certain Rights of Property Trustee.............................23
Section 3.11.  Delaware Trustee...............................................26
Section 3.12.  Execution of Documents.........................................26
Section 3.13.  Not Responsible for Recitals or Issuance of Trust Securities...26
Section 3.14.  Duration of Trust..............................................27
Section 3.15.  Mergers........................................................27

                                    ARTICLE 4
                                    GUARANTOR

Section 4.01.  Responsibilities of the Guarantor..............................29

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Section 4.02.  Indemnification and Expenses of the Trustee....................29
Section 4.03.  Covenants of the Guarantor.....................................29

                                    ARTICLE 5
                         TRUST COMMON SECURITIES HOLDER

Section 5.01.  [Trust Common Securities Owner]'s Purchase of Trust
               Common Securities..............................................32

                                    ARTICLE 6
                                    TRUSTEES

Section 6.01.  Number of Trustees.............................................32
Section 6.02.  Delaware Trustee...............................................32
Section 6.03.  Property Trustee; Eligibility..................................32
Section 6.04.  Qualifications of Regular Trustees and Delaware Trustee
               Generally......................................................33
Section 6.05.  Regular Trustees...............................................33
Section 6.06.  Delaware Trustee...............................................34
Section 6.07.  Appointment, Removal and Resignation of Trustees...............34
Section 6.08.  Vacancies among Trustees.......................................35
Section 6.09.  Effect of Vacancies............................................36
Section 6.10.  Meetings.......................................................36
Section 6.11.  Delegation of Power............................................36
Section 6.12.  Merger, Conversion, Consolidation or Succession to Business....37

                                    ARTICLE 7
                                    DIVIDENDS

Section 7.01.  Dividends......................................................37

                                    ARTICLE 8
                          ISSUANCE OF TRUST SECURITIES

Section 8.01.  Designation and General Provisions Regarding Trust Securities..38
Section 8.02.  Subordination of Trust Common Securities.......................40
Section 8.03.  Redemption of Trust Securities.................................41
Section 8.04.  Redemption Procedures..........................................42
Section 8.05.  Voting Rights of Trust Preferred Securities....................43
Section 8.06.  Voting Rights Of Trust Common Securities.......................46
Section 8.07.  Paying Agent...................................................47
Section 8.08.  Acceptance of Guarantees and Agreements........................47

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                                    ARTICLE 9
                    TERMINATION AND LIQUIDATION OF THE TRUST

Section 9.01.  Dissolution of Trust...........................................48
Section 9.02.  Liquidation Distribution upon Termination and Dissolution
               of the Trust...................................................49

                                   ARTICLE 10
                              TRANSFER OF INTERESTS

Section 10.01.  Transfer of Trust Securities..................................49
Section 10.02.  Transfer of Certificates......................................49
Section 10.03.  Deemed Security Holders.......................................50
Section 10.04.  Book-entry Interests..........................................50
Section 10.05.  Notices to Clearing Agency....................................51
Section 10.06.  Appointment of Successor Clearing Agency......................51
Section 10.07.  Definitive Trust Preferred Security Certificates..............51
Section 10.08.  Mutilated, Destroyed, Lost or Stolen Certificates.............52

                                   ARTICLE 11
             LIMITATION OF LIABILITY OF HOLDERS OF TRUST SECURITIES,
                               TRUSTEES OR OTHERS

Section 11.01.  Liability.....................................................52
Section 11.02.  Exculpation...................................................53
Section 11.03.  Fiduciary Duty................................................53
Section 11.04.  Indemnification...............................................54
Section 11.05.  Outside Businesses............................................58

                                   ARTICLE 12
                                   ACCOUNTING

Section 12.01.  Fiscal Year...................................................58
Section 12.02.  Certain Accounting Matters....................................58
Section 12.03.  Banking.......................................................59
Section 12.04.  Withholding; Additional Amounts...............................59

                                   ARTICLE 13
                             AMENDMENTS AND MEETINGS

Section 13.01.  Amendments....................................................60
Section 13.02.  Meetings of the Holders of Trust Securities; Action
                by Written Consent............................................62

                                   ARTICLE 14
            REPRESENTATIONS OF PROPERTY TRUSTEE AND DELAWARE TRUSTEE

Section 14.01.  Representations and Warranties of Property Trustee............64

                                      iii
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Section 14.02.  Representations and Warranties of Delaware Trustee............64

                                   ARTICLE 15
                                  MISCELLANEOUS

Section 15.01.  Notices.......................................................65
Section 15.02.  Governing Law.................................................66
Section 15.03.  Intention of the Parties......................................66
Section 15.04.  Headings......................................................66
Section 15.05.  Successors and Assigns........................................66
Section 15.06.  Partial Enforceability........................................67
Section 15.07.  Counterparts..................................................67

                                       iv
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                            CROSS-REFERENCE TABLE(1)

                         Section of Trust Indenture Act
                               of 1939, as amended

                                                        Section of
                                                          Trust
                                                        Agreement
                                                        ---------
310(a).............................................        6.03
310(b).............................................      6.03(c)
310(c).............................................      2.02(b)
311(a).............................................      2.02(b)
311(b).............................................    Inapplicable
311(c).............................................    Inapplicable
312(a).............................................        2.02
312(b).............................................      2.02(b)
313................................................   2.03, 12.02(b)
314(a).............................................        2.04
314(b).............................................    Inapplicable
314(c).............................................        2.05
314(d).............................................    Inapplicable
314(f).............................................    Inapplicable
315(a).............................................      3.09(b)
315(b).............................................        2.07
315(c).............................................        3.09
315(d).............................................        3.09
316(a).............................................    2.06, 8.05,
                                                          8.06
316(c).............................................      3.06(e)

----------
      (1) This Cross-Reference Table does not constitute part of the Trust
Agreement and shall not affect the interpretation of any of its terms or
provisions.

                                       v
<PAGE>

                              AMENDED AND RESTATED
                                 TRUST AGREEMENT
                                       OF
                       ABN AMRO CAPITAL FUNDING TRUST [ ]

                                     [DATE]

      AMENDED AND RESTATED TRUST AGREEMENT (the "Trust Agreement") dated and
effective as of [DATE], by the Trustees (as defined herein), the Sponsor (as
defined herein), the Guarantor (as defined herein), and the Holders (as defined
herein), from time to time, of undivided beneficial interests in the Trust (as
defined herein) to be issued pursuant to this Trust Agreement;

      WHEREAS, certain of the Trustees and the Sponsor established ABN AMRO
CAPITAL FUNDING TRUST [ ] (the "Trust"), a trust under the Statutory Trust Act
(as defined herein) pursuant to a Trust Agreement dated as of April 1, 2003 (the
"Original Trust Agreement") and a Certificate of Trust filed with the Secretary
of State of the State of Delaware on April 1, 2003, for the sole purpose of
issuing and selling certain securities representing undivided beneficial
interests in the assets of the Trust and investing the proceeds thereof in the
Company Securities (as defined herein);

      WHEREAS, as of the date hereof, no interests in the Trust have been
issued; and

      WHEREAS, all of the Trustees and the Sponsor, by this Trust Agreement,
wish to amend and restate each and every term and provision of the Original
Trust Agreement.

      NOW, THEREFORE, it being the intention of the parties hereto to continue
the Trust as a trust under the Statutory Trust Act and that this Trust Agreement
constitutes the governing instrument of such trust, the Trustees declare that
all assets contributed to the Trust will be held in trust for the benefit of the
Holders, from time to time, of the securities representing undivided beneficial
ownership interests in the assets of the Trust issued hereunder, subject to the
provisions of this Trust Agreement.

                                    ARTICLE 1
                         INTERPRETATION AND DEFINITIONS

      Section 1.01. Definitions. Unless the context otherwise requires:

<PAGE>

      (a) capitalized terms used in this Trust Agreement but not defined in the
preamble above have the respective meanings assigned to them in this Section
1.01;

      (b) a term defined anywhere in this Trust Agreement has the same meaning
throughout;

      (c) all references to "the Trust Agreement" or "this Trust Agreement" are
to this Trust Agreement as modified, supplemented or amended from time to time;

      (d) all references in this Trust Agreement to Articles and Sections and
Annexes and Exhibits are to Articles and Sections of and Annexes and Exhibits to
this Trust Agreement unless otherwise specified;

      (e) a term defined in the Trust Indenture Act has the same meaning when
used in this Trust Agreement unless otherwise defined in this Trust Agreement or
unless the context otherwise requires; and

      (f) a reference to the singular includes the plural and vice versa.

      "ABN AMRO Indemnified Person" means (a) any Regular Trustee; (b) any
Affiliate of any Regular Trustee; (c) any officers, directors, shareholders,
members, partners, employees, representatives or agents of any Regular Trustee;
or (d) any officer, director, shareholder, member, partner, employee,
representative or agent of the Trust or its Affiliates.

      "Administrative Action" means any judicial decision, official
administrative pronouncement, published or private ruling, regulatory procedure,
notice or announcement (including any notice or announcement of intent to adopt
such procedures or regulations).

      "Affiliate" means, with respect to any specified Person, any other Person
that directly or indirectly controls, is controlled by, or is under common
control with, such specified Person.

      "Authorized Officer" of a Person means any Person that is authorized to
bind such Person.

      "Bank" means ABN AMRO Bank N.V.

      "Book-Entry Interest" means a beneficial interest in a Global Certificate,
ownership and transfers of which shall be maintained and made through book
entries by a Clearing Agency as set forth in Section 10.04 of this Trust
Agreement.

                                       2
<PAGE>

      "Business Day" means any day on which commercial and foreign exchange
markets settle payments in London, Amsterdam, Luxembourg and New York City.

      "Capital Funding LLC" means any ABN AMRO Capital Funding LLC.

      "Certificate" means a Trust Common Security Certificate or
a Trust Preferred Security Certificate.

      "Class B Guarantee" means a Company Securities Guarantee where the Company
Securities are Class B Preferred Securities.

      "Class B Preferred Securities" means Company Securities consisting of
Class B preferred securities issued by a Capital Funding LLC.

      "Clearing Agency" means an organization registered as a "Clearing Agency"
pursuant to Section 17A of the Exchange Act that is acting as depositary for the
Trust Preferred Securities and in whose name or in the name of a nominee of whom
shall be registered a Global Certificate and which shall undertake to effect
book-entry transfers and pledges of beneficial interests in the Trust Preferred
Securities.

      "Clearing Agency Participant" means a broker, dealer, bank, other
financial institution or other Person for whom from time to time the Clearing
Agency effects book-entry transfers and pledges of interest in securities
deposited with the Clearing Agency.

      "Closing Date" means [DATE].

      "Code" means the Internal Revenue Code of 1986, as amended from time to
time, or any successor legislation.

      "Commission" means the Securities and Exchange Commission.

      "Company" means [ISSUER OF SECURITIES HELD BY THE TRUST].

      "Company Enforcement Event" means the non-payment of Dividends on the
Company Securities for four consecutive Dividend Periods or any six Dividend
Periods.

      "Company Securities" means the [SECURITIES] issued by the Company.

      "Company Securities Beneficial Owner" means, with respect to a Book-Entry
Interest, a Person who is the beneficial owner of such Book-Entry Interest, as
reflected on the books of the Clearing Agency, or on the books of a Person
maintaining an account with such Clearing Agency (directly as a Clearing Agency

                                       3
<PAGE>

Participant or as an indirect participant, in each case in accordance with the
rules of such Clearing Agency).

      "Company Securities Guarantee" means [the guarantee dated as of [DATE]
executed and delivered by the Guarantor, [__] as the initial purchaser of the
Company Securities, and [__] as the Company Securities Guarantee Trustee, for
the benefit of the holders from time to time of the Company Securities].

      "Company Securities Rights Agreement" means [NAME OF AGREEMENT].

      "Contingent Distribution" means [LLC Contingent Distribution / Trust
Contingent Distribution]

      "Contingent Guarantee" means [the guarantee, dated as of [DATE], executed
and delivered by the Guarantor, [__] for the benefit of [__], and [the
Contingent Guarantee Trustee].

      "Corporate Trust Office" means the principal corporate trust office of the
Property Trustee at which, at any particular time, its corporate trust business
shall be administered, which office at the date hereof is located at [ADDRESS].

      "Covered Person" means: (a) any officer, director, shareholder, partner,
member, representative, employee or agent of (i) the Trust or (ii) the Trust's
Affiliates; and (b) any Holder of Trust Securities.

      "Definitive Trust Preferred Security Certificates" has the meaning set
forth in Section 10.04 of this Trust Agreement.

      "Delaware Trustee" has the meaning set forth in Section 3.11, 6.02 of this
Trust Agreement.

      "Dividends" means cash income distributions.

      "Dividend Date" means the last day of each [MONTH] of each year.

      "Dividend Period" means each period beginning on the date of original
issuance of the Trust Preferred Securities or on a Dividend Date and ending on
the day that precedes the next succeeding Dividend Date.

      "DTC" means The Depository Trust Company, the initial Clearing Agency.

      "Exchange Act" means the Securities Exchange Act of 1934, as amended from
time to time, or any successor legislation.

                                       4
<PAGE>

      "Fiduciary Indemnified Person" has the meaning set forth in Section
11.04(a)(iv) of this Trust Agreement.

      "Fiscal Period" means each calendar quarter.

      "Fiscal Year" has the meaning set forth in Section 12.01 of this Trust
Agreement.

      "Global Certificate" has the meaning set forth in Section 10.04 of this
Trust Agreement.

      "Guarantee Independent Administrator" has the meaning set forth in Section
8.05(l).

      "Guarantee Independent Director" means the independent director of the
Company elected pursuant to Section 10.04(i)(iii) of the LLC Agreement upon
non-payment for a day of a claim made under either of the Class B Guarantee or
the Trust Securities Guarantee.

      "Guarantee Trustees" means the Trustees under any of the Guarantees.

      "Guarantees" means (i) the Trust Securities Guarantee and (ii) the Class B
Guarantee or the Company Securities Guarantee, as applicable.

      "Guarantor" means [ABN AMRO HOLDING N.V. / ABN AMRO BANK N.V.].

      "Holder" means a Person in whose name a Certificate representing a Trust
Security is registered, such Person being a beneficial owner within the meaning
of the Statutory Trust Act.

      "Holding" means ABN AMRO Holding N.V.

      "Indemnified Person" means an ABN AMRO Indemnified Person or a Fiduciary
Indemnified Person.

      "Initial Intercompany Security" means [SECURITY] issued by [ISSUER OF
INITIAL INTERCOMPANY SECURITY].

      "Intercompany Securities" means the Initial Intercompany Security and,
upon maturity or redemption thereof, any successor intercompany securities that
will constitute the assets of the Company.

      "Investment Company" means an investment company as defined in the 1940
Act.

      "Legal Action" has the meaning set forth in Section 3.06(h) of this Trust
Agreement.

                                       5
<PAGE>

      "List of Holders" has the meaning set forth in Section 2.02 of this Trust
Agreement.

      "LLC Agreement" means Amended and Restated LLC Agreement of a Capital
Funding LLC dated as of [DATE].

      "LLC Contingent Distribution" means payments received by the Company for
the benefit of the holders of Class B Preferred Securities under the LLC
Contingent Guarantee.

      "LLC Contingent Guarantee" means a Contingent Guarantee entered into
between the Guarantor and a Capital Funding LLC.

      "Majority in liquidation amount of" means, except as provided in the terms
of the Trust Securities or by the Trust Indenture Act, with respect to the Trust
Securities, Holders of outstanding Trust Securities voting together as a single
class or, with respect to the Trust Preferred Securities or the Trust Common
Securities, Holders of outstanding Trust Securities of such class, voting
separately as a class, who are the record owners of more than 50% of the
aggregate liquidation amount (including the stated amount that would be paid on
redemption, liquidation or otherwise, plus accumulated and unpaid Dividends to
the date upon which the voting percentages are determined) of all outstanding
Trust Securities or all outstanding Trust Securities of the relevant class, as
the case may be.

      "Ministerial Action" means, a ministerial action (such as filing a form or
making an election or pursuing some other similar reasonable measure) which in
the sole judgment of the Guarantor has or will cause no adverse effect on the
Trust, the Company, the Trust Common Securities Owner, the Holders or the Trust
Preferred Security Beneficial Owners and will involve no material cost.

      "1940 Act" means the Investment Company Act of 1940, as amended from time
to time, or any successor legislation.

      "Officers' Certificate" means, with respect to any Person (who is not an
individual), a certificate signed by two Authorized Officers of such Person,
and, with respect to a natural person, a certificate signed by such person. Any
Officers' Certificate delivered with respect to compliance with a condition or
covenant provided for in this Trust Agreement shall include:

      (a) a statement that each officer signing the Officers' Certificate has
read the covenant or condition and the definitions relating thereto;

      (b) a brief statement of the nature and scope of the examination or
investigation undertaken by each officer in rendering the Officers' Certificate;

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<PAGE>

      (c) a statement that each such officer has made such examination or
investigation as, in such officer's opinion, is necessary to enable such officer
to express an informed opinion as to whether or not such covenant or condition
has been complied with; and

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

      "Ordinary Shares" means the ordinary shares of the Guarantor, any other
shares of the Guarantor's capital stock ranking junior to the Parity Preferred
Shares, if any, and any guarantees of the Guarantor ranking junior to the Parity
Guarantees.

      "Parity Guarantee" means [SPECIFIC GUARANTEES], and any other guarantee
issued by the Guarantor of any preferred securities or preferred or preference
shares issued by any subsidiary of the Guarantor, if such guarantee ranks pari
passu with the Guarantor's obligations under the Guarantees.

      "Parity Preferred Shares" means the most senior ranking preferred or
preference shares issued by the Guarantor.

      "Payment Amount" has the meaning set forth in Section 7.01(c) of this
Trust Agreement.

      "Paying Agent" has the meaning set forth in Section 3.08(g) of this Trust
Agreement.

      "Person" means a legal person, including any individual, corporation,
estate, partnership, joint venture, association, joint stock company, limited
liability company, trust, unincorporated association, or government or any
agency or political subdivision thereof, or any other entity of whatever nature.

      "Property Account" has the meaning set forth in Section 3.08(c) of this
Trust Agreement.

      "Property Trustee" means the Trustee meeting the eligibility requirements
set forth in Section 6.03 of this Trust Agreement.

      "Pro Rata" means, in reference to any distributions on or redemptions of
Trust Securities or the distribution of Company Securities or any other payment
with respect to Trust Securities in connection with a Trust Special Event or
liquidation of the Trust, pro rata to each Holder of Trust Securities according
to the aggregate liquidation amount of the Trust Securities held by the relevant
Holder in relation to the aggregate liquidation amount of all Trust Securities
outstanding.

                                       7
<PAGE>

      "Qualified Subsidiary" means one or more subsidiaries of Holding or the
Bank which are deemed to be a "company controlled by the parent company" under
Rule 3a-5, as amended, of the 1940 Act.

      "Quorum" means a majority of the Regular Trustees or, if there are only
two Regular Trustees, both of them.

      "Redemption Price" has the meaning set forth in Section 8.02 of this Trust
Agreement.

      "Regular Trustee" has the meaning set forth in Section 6.01 of this Trust
Agreement.

      "Responsible Officer" means, with respect to the Property Trustee, any
officer within the Corporate Trust Office of the Property Trustee, including any
vice-president, any assistant vice-president, any secretary, any assistant
secretary, the treasurer, any assistant treasurer or other officer of the
Corporate Trust Office of the Property Trustee customarily performing functions
similar to those performed by any of the above designated officers, who has
direct responsibility for the administration of the Trust, and also means, with
respect to a particular corporate trust matter, any other officer to whom such
matter is referred because of that officer's knowledge of and familiarity with
the particular subject.

      "Securities Act" means the Securities Act of 1933, as amended from time to
time, or any successor legislation.

      "Services Agreement" means [The Services Agreement, dated as of [DATE]
entered into by the Company, the Trust, the [Trust Common Security Owner] and
the Guarantor].

      "Special Director" means, where the Company is a Capital Funding LLC, a
director elected to the Board of Directors of the Company (the "Board") by the
holders of the Class B Preferred Securities pursuant to Section 10.04(i) of the
LLC Agreement upon the occurrence of a Company Enforcement Event.

      "Sponsor" means LaSalle Funding LLC or any successor entity in a merger,
consolidation, amalgamation or by assignment in its capacity as sponsor of the
Trust.

      "Statutory Trust Act" means Chapter 38 of Title 12 of the Delaware Code,
12 Del. C. Section 3801 et seq., as it may be amended from time to time, or any
successor legislation.

      "Successor Delaware Trustee" has the meaning set forth in Section 6.07(b)
of this Trust Agreement.

      "Successor Entity" has the meaning set forth in Section 3.15 of this Trust
Agreement.

                                       8
<PAGE>

      "Successor Property Trustee" has the meaning set forth in Section 6.07(b)
of this Trust Agreement.

      "Successor Trust Securities" has the meaning set forth in Section 3.15 of
this Trust Agreement.

      "Super Majority" has the meaning set forth in Section 2.06(a)(ii) of this
Trust Agreement.

      "10% in liquidation amount of" means, except as provided in the terms of
the Trust Securities or by the Trust Indenture Act, with respect to the Trust
Securities, Holders of outstanding Trust Securities voting together as a single
class or, with respect to the Trust Preferred Securities or the Trust Common
Securities, Holders of outstanding Trust Securities of such class voting
separately as a class, who are the record owners of 10% or more of the aggregate
liquidation amount (including the stated amount that would be paid on
redemption, liquidation or otherwise, plus accumulated and unpaid Dividends to
the date upon which the voting percentages are determined) of all outstanding
Trust Securities or all outstanding Trust Securities of the relevant class, as
the case may be.

      "Treasury Regulations" means the income tax regulations, including
temporary and proposed regulations, promulgated under the Code by the United
States Treasury Department, as such regulations may be amended from time to time
(including corresponding provisions of succeeding regulations).

      "Trust Common Security" has the meaning set forth in Section 8.01 of this
Trust Agreement.

      "Trust Common Security Certificate" means a definitive certificate in
fully registered form representing a Trust Common Security substantially in the
form of Exhibit A-2.

      "Trust Common Securities Owner" means [_____].

      "Trust Contingent Distribution" has the meaning set forth in Section
4.03(b)(ii).

      "Trust Contingent Guarantee" means a Contingent Guarantee entered into
between the Guarantor and the Trust.

      "Trust Enforcement Event" means the occurrence, at any time, of (i)
non-payment of Dividends on the Trust Preferred Securities for four consecutive
Dividend Periods or any six Dividend Periods, (ii) a default by Guarantor in
respect of any of its obligations under the Trust Securities Guarantee, (iii)
non-payment of a claim within one day following the making of such claim by
either of the Guarantee Trustees or a Holder of the Company Securities or the
Trust Securities under either of the Guarantees or (iv) a Company Enforcement
Event.

                                       9
<PAGE>

      "Trust Indenture Act" means the Trust Indenture Act of 1939, as amended
from time to time, or any successor legislation.

      "Trust Investment Company Event" means that the Guarantor shall have
requested and received an opinion of a nationally recognized U.S. law firm
experienced in such matters to the effect that there is more than an
insubstantial risk that the Trust is or will be considered an "investment
company" within the meaning of the Investment Company Act of 1940, as amended
from time to time, or any successor legislation (the "1940 Act") as a result of
(i) any judicial decision, any pronouncement or interpretation (irrespective of
the manner made known), the adoption or amendment of any law, rule or
regulation, any notice or announcement (including any notice or announcement of
intent to adopt such rule or regulation) by any U.S. legislative body, court,
governmental agency or regulatory authority after the date hereof or (ii) any
change after the date hereof in the laws of The Netherlands relating to the
enforceability of either of the Guarantees thereunder, as confirmed in an
opinion of a nationally recognized Dutch law firm experienced in such matters.

      "Trust Liquidation" has the meaning set forth in Section 9.02(a) of this
Trust Agreement.

      "Trust Liquidation Distribution" has the meaning set forth in Section
9.02(a) of this Trust Agreement.

      "Trust Preferred Security" has the meaning set forth in Section 8.01(a) of
this Trust Agreement.

      "Trust Preferred Security Beneficial Owner" means, with respect to a
Book-Entry Interest, a Person who is the beneficial owner of such Book-Entry
Interest, as reflected on the books of the Clearing Agency, or on the books of a
Person maintaining an account with such Clearing Agency (directly as a Clearing
Agency Participant or as an indirect participant, in each case in accordance
with the rules of such Clearing Agency).

      "Trust Preferred Security Certificate" means a certificate representing a
Trust Preferred Security substantially in the form of Exhibit A-1.

      "Trust Securities" means the Trust Common Securities and the Trust
Preferred Securities.

      "Trust Securities Guarantee" means the Trust Securities Guarantee
Agreement dated as of [DATE] among the Guarantor, the Initial Holders named
therein, and the Guarantee Trustee, for the benefit of the Holders form time to
time of the Trust Securities.

      "Trust Special Event" means a Trust Tax Event or a Trust Investment
Company Event.

                                       10
<PAGE>

      "Trust Tax Event" means the receipt by the Guarantor or any of its
Affiliates of an opinion of a nationally recognized law firm or other tax
adviser in the United States or The Netherlands, as appropriate, experienced in
such matters, to the effect that, as a result of (i) any amendment to, or
clarification of, or change (including any announced prospective change) in, the
laws or treaties (or any regulations promulgated thereunder) of the United
States or The Netherlands or any political subdivision or taxing authority
thereof or therein affecting taxation, (ii) any Administrative Action or (iii)
any amendment to, clarification of, or change in the official position or the
interpretation of any Administrative Action or any interpretation or
pronouncement that provides for a position with respect to any Administrative
Action that differs from the theretofore generally accepted position, in each
case, by any legislative body, court, governmental authority or regulatory body,
irrespective of the manner in which such amendment, clarification or change is
made known, which amendment, clarification or change is effective, or which
pronouncement or decision is announced, on or after the date of issuance of the
Trust Securities, there is more than an insubstantial risk that the Trust will
be subject to more than a de minimis amount of taxes, duties or other
governmental charges, provided that an obligation to withhold any present or
future tax, duty, assessment or other governmental charge on any Intercompany
Security in respect of payment made to the Company[, where the Company is a
Capital Funding LLC,] on such Intercompany Security shall not constitute a
"Trust Tax Event" under any circumstances.

      "Trustee" or "Trustees" means each Person who has signed this Trust
Agreement as a trustee, so long as such Person shall continue in office in
accordance with the terms hereof, and all other Persons who may from time to
time be duly appointed, qualified and serving as Trustees in accordance with the
provisions hereof, and references herein to a Trustee or the Trustees shall
refer to such Person or Persons solely in their capacity as trustees hereunder.

                                    ARTICLE 2
                               TRUST INDENTURE ACT

      Section 2.01. Trust Indenture Act; Application. (a) This Trust Agreement
is subject to the provisions of the Trust Indenture Act that are required to be
part of this Trust Agreement and shall, to the extent applicable, be governed by
such provisions. A term defined in the Trust Indenture Act has the same meaning
when used in this Trust Agreement, unless otherwise defined in this Trust
Agreement or unless the context otherwise requires.

      (b) The Property Trustee shall be the only Trustee which is a Trustee for
the purposes of the Trust Indenture Act.

      (c) If and to the extent that any provision of this Trust Agreement
limits, qualifies or conflicts with the duties imposed by Sections 310 to 317,
inclusive, of the Trust Indenture Act, such imposed duties shall control.

                                       11
<PAGE>

      (d) The application of the Trust Indenture Act to this Trust Agreement
shall not affect the nature of the Trust Securities as equity securities
representing undivided beneficial interests in the assets of the Trust.

      Section 2.02. Lists of Holders of Trust Securities. (a) If the Trust
Preferred Securities are not held in the form of a Global Certificate registered
in the name of Cede & Co. or a nominee of DTC, each of the Sponsor and the
Regular Trustees on behalf of the Trust shall provide the Property Trustee (i)
within 14 days after each record date for payment of Dividends, a list, in such
form as the Property Trustee may reasonably require, of the names and addresses
of the Holders of the Trust Securities ("List of Holders") as of such record
date and (ii) at any other time, within 30 days of receipt by the Trust of a
written request for a List of Holders as of a date no more than 14 days before
such List of Holders is given to the Property Trustee. The Property Trustee
shall preserve, in as current a form as is reasonably practicable, all
information contained in Lists of Holders given to it or which it receives in
the capacity as Paying Agent (if acting in such capacity) provided that the
Property Trustee may destroy any List of Holders previously given to it on
receipt of a new List of Holders.

      (b) The Property Trustee shall comply with its obligations under Sections
311(a), 311(b) and 312(b) of the Trust Indenture Act.

      Section 2.03. Reports by the Property Trustee. Within [60] days after
[DATE] of each year, the Property Trustee shall provide to the Holders of the
Trust Securities such reports as are required by Section 313 of the Trust
Indenture Act, if any, in the form and in the manner provided by Section 313 of
the Trust Indenture Act. The Property Trustee shall also comply with the
requirements of Section 313(d) of the Trust Indenture Act.

      Section 2.04. Periodic Reports to Property Trustee. Each of the Guarantor
and the Regular Trustees on behalf of the Trust shall provide to the Property
Trustee such documents, reports and information as required by Section 314 of
the Trust Indenture Act (if any) and the compliance certificate required by
Section 314 of the Trust Indenture Act in the form, in the manner and at the
times required by Section 314 of the Trust Indenture Act. Delivery of such
reports, information and documents to the Property Trustee is for informational
purposes only and the Property Trustee's receipt of such shall not constitute
constructive notice of any information contained therein or determinable from
information contained therein.

      Section 2.05. Evidence of Compliance with Conditions Precedent. Each of
the Guarantor and the Regular Trustees on behalf of the Trust shall provide to
the Property Trustee such evidence of compliance with any conditions precedent,
if any, provided for in this Trust Agreement that relate to any of the matters
set forth in Section 314(c) of the Trust Indenture Act. Any certificate or
opinion required to be given by an officer pursuant to Section 314(c)(1) may be
given in the form of an Officers' Certificate.

                                       12
<PAGE>

      Section 2.06. Trust Enforcement Events; Waiver. (a) The Holders of a
Majority in liquidation amount of Trust Preferred Securities may, by vote, on
behalf of the Holders of all of the Trust Preferred Securities, waive any past
Trust Enforcement Event in respect of the Trust Preferred Securities and its
consequences, provided that, if the underlying event of default or Company
Enforcement Event:

            (i) is not waivable under the Trust Securities Guarantee or the
      Company Securities Rights Agreement, the Trust Enforcement Event under
      this Trust Agreement shall also not be waivable; or

            (ii) requires the consent or vote of the Holders of greater than a
      Majority in liquidation amount of the Trust Preferred Securities to be
      waived under the Trust Securities Guarantee or the consent or vote of the
      Holders of more than 50% of the aggregate liquidation amount of the
      Company Securities to be waived under the Company Securities Rights
      Agreement (a "Super Majority"), the Trust Enforcement Event under this
      Trust Agreement may only be waived by the vote of the Holders of at least
      the relevant Super Majority in liquidation amount of the Trust Preferred
      Securities.

The foregoing provisions of this Section 2.06 shall be in lieu of Section
316(a)(1)(B) of the Trust Indenture Act and such Section 316(a)(1)(B) of the
Trust Indenture Act is hereby expressly excluded from this Trust Agreement and
the Trust Securities, as permitted by the Trust Indenture Act. Upon such waiver,
any such default shall cease to exist, and any Trust Enforcement Event with
respect to the Trust Preferred Securities arising therefrom shall be deemed to
have been cured, for every purpose of this Trust Agreement, but no such waiver
shall extend to any subsequent or other default or Trust Enforcement Event with
respect to the Trust Preferred Securities or impair any right consequent
thereon. Any waiver by the Holders of the Trust Preferred Securities of Trust
Enforcement Events with respect to the Trust Preferred Securities shall also be
deemed to constitute a waiver by the Holders of the Trust Common Securities of
any such Trust Enforcement Event with respect to the Trust Common Securities for
all purposes of this Trust Agreement without any further act, vote, or consent
of the Holders of the Trust Common Securities.

      (b) The Holders of a Majority in liquidation amount of the Trust Common
Securities may, by vote, on behalf of the Holders of all of the Trust Common
Securities, waive any past Trust Enforcement Event with respect to the Trust
Common Securities and its consequences, provided that, if the underlying event
of default or Company Enforcement Event:

            (i) is not waivable under the Company Securities Rights Agreement,
      except where the Holders of the Trust Common Securities are deemed to have
      waived such Trust Enforcement Event under this Trust Agreement as provided
      below in this Section 2.06(b), the Trust

                                       13
<PAGE>

      Enforcement Event under this Trust Agreement shall also not be waivable;
      or

            (ii) requires the consent or vote of the Holders of a Super Majority
      to be waived, except where the Holders of the Trust Common Securities are
      deemed to have waived such Trust Enforcement Event under the Trust
      Agreement as provided below in this Section 2.06(b), the Trust Enforcement
      Event under this Trust Agreement may only be waived by the vote of the
      Holders of at least the relevant Super Majority in liquidation amount of
      the Trust Common Securities;

provided further, that each Holder of Trust Common Securities will be deemed to
have waived any such Trust Enforcement Event and all Trust Enforcement Events
with respect to the Trust Common Securities and its consequences until all Trust
Enforcement Events with respect to the Trust Preferred Securities have been
cured, waived or otherwise eliminated, and until such Trust Enforcement Events
have been so cured, waived or otherwise eliminated, the Property Trustee will be
deemed to be acting solely on behalf of the Holders of the Trust Preferred
Securities and only the Holders of the Trust Preferred Securities will have the
right to direct the Property Trustee in accordance with the terms of the Trust
Securities. The foregoing provisions of this Section 2.06(b) shall be in lieu of
Sections 316(a)(1)(A) and 316(a)(1)(B) of the Trust Indenture Act and such
Sections 316(a)(1)(A) and 316(a)(1)(B) of the Trust Indenture Act are hereby
expressly excluded from this Trust Agreement and the Trust Securities, as
permitted by the Trust Indenture Act. Subject to the foregoing provisions of
this Section 2.06(b), upon such waiver, any such default shall cease to exist
and any Trust Enforcement Event with respect to the Trust Common Securities
arising therefrom shall be deemed to have been cured for every purpose of this
Trust Agreement, but no such waiver shall extend to any subsequent or other
default or Trust Enforcement Event with respect to the Trust Common Securities
or impair any right consequent thereon.

      (c) A waiver of Company Enforcement Events under the Company Securities
Rights Agreement by the Property Trustee at the direction of the Holders of the
Trust Securities constitutes a waiver of the corresponding Trust Enforcement
Event under this Trust Agreement. The foregoing provisions of this Section
2.06(c) shall be in lieu of Section 316(a)(1)(B) of the Trust Indenture Act and
such Section 316(a)(1)(B) of the Trust Indenture Act is hereby expressly
excluded from this Trust Agreement and the Trust Securities, as permitted by the
Trust Indenture Act.

      Section 2.07. Trust Enforcement Event; Notice. The Property Trustee shall,
within 90 days after the occurrence of a Trust Enforcement Event, transmit by
mail, first class postage prepaid, to the Holders of the Trust Securities,
notices of all Events of Default with respect to the Trust Securities actually
known to a Responsible Officer of the Property Trustee, unless such Events of
Default have been cured before the giving of such notice (the term "Events of
Default" for the

                                       14
<PAGE>

purposes of this Section 2.07 being hereby defined to be defaults as defined in
the Trust Securities Guarantee and the Company Securities Rights Agreement, not
including any periods of grace provided for therein and irrespective of the
giving of any notice provided therein); provided that, the Property Trustee
shall be protected in withholding such notice if and so long as a Responsible
Officer of the Property Trustee in good faith determines that the withholding of
such notice is in the interests of the Holders of the Trust Securities.

                                    ARTICLE 3
                                  ORGANIZATION

      Section 3.01. Name. The Trust is named "ABN AMRO Capital Funding Trust
[ ]," as such name may be modified from time to time by the Regular Trustees
following written notice to the Holders. The Trust's activities may be conducted
under the name of the Trust or any other name deemed advisable by the Regular
Trustees.

      Section 3.02. Office. The address of the principal office of the Trust is
[135 South LaSalle Street, Chicago, Illinois 60603]. On ten Business Days'
written notice to the Holders, the Regular Trustees may designate another
principal office.

      Section 3.03. Purpose. The exclusive purposes and functions of the Trust
are (a) to issue and sell Trust Securities representing undivided beneficial
ownership interests in the assets of the Trust and to use the proceeds from such
sale to acquire the Company Securities, (b) enter into and perform its duties
under the related documents to which it is a party and (c) except as otherwise
limited herein, to engage in only those other activities necessary, or
incidental thereto, in all events without causing the Trust to be classified as
other than a grantor trust for United States federal income tax purposes.

      Section 3.04. Authority. Subject to the limitations provided in this Trust
Agreement and to the specific duties of the Property Trustee, the Regular
Trustees shall have exclusive and complete authority to carry out the purposes
of the Trust. An action taken by the Regular Trustees in accordance with their
powers shall constitute the act of and serve to bind the Trust and an action
taken by the Property Trustee on behalf of the Trust in accordance with its
powers shall constitute the act of and serve to bind the Trust. In dealing with
the Trustees acting on behalf of the Trust, no person shall be required to
inquire into the authority of the Trustees to bind the Trust. Persons dealing
with the Trust are entitled to rely conclusively on the power and authority of
the Trustees as set forth in this Trust Agreement.

      Section 3.05. Title to Property of the Trust. Except as provided in
Section 3.08 with respect to the Company Securities, the LLC Contingent
Distribution and the Property Account or as otherwise provided in this Trust
Agreement, legal

                                       15
<PAGE>

title to all assets of the Trust shall be vested in the Trust. The Holders shall
not have legal title to any part of the assets of the Trust, but shall have an
undivided ownership interest in the assets of the Trust.

      Section 3.06. Powers and Duties of the Regular Trustees. The Regular
Trustees shall have the exclusive power, duty and authority to cause the Trust
to engage in the following activities:

      (a) To issue and sell the Trust Preferred Securities and the Trust Common
Securities in accordance with this Trust Agreement; provided, however, that the
Trust may issue no more than one series of Trust Preferred Securities and no
more than one series of Trust Common Securities, and, provided further, that
there shall be no interests in the Trust other than the Trust Securities, and
the issuance of Trust Securities shall be limited to a one-time, simultaneous
issuance of both Trust Preferred Securities and Trust Common Securities on the
Closing Date;

      (b) In connection with the issue and sale of the Trust Preferred
Securities, at the direction of the Guarantor, to:

            (i) execute and file with the Commission any post-effective
      amendments or supplements to the registration statement No. 333-104778 on
      Form F-3;

            (ii) execute and file any documents prepared by the Guarantor, or
      take any acts as determined by the Guarantor to be necessary in order to
      qualify or register all or part of the Trust Preferred Securities in any
      State in which the Guarantor has determined to qualify or register such
      Trust Preferred Securities for sale;

            (iii) execute and file applications, prepared by the Guarantor, to
      the [New York Stock Exchange, Inc.] and the [Luxembourg Stock Exchange]
      for listing upon notice of issuance of any Trust Preferred Securities;

            (iv) execute and file with the Commission a registration statement
      on Form 8-A, including any amendments thereto, prepared by the Guarantor,
      relating to the registration of the Trust Preferred Securities under
      Section 12(b) of the Exchange Act; and

            (v) execute and enter into an underwriting agreement providing for
      the sale of the Trust Preferred Securities and the related documents to
      which the Trust is a party and perform the duties and obligations of the
      Trust thereunder;

      (c) To acquire the Company Securities with the proceeds of the sale of the
Trust Preferred Securities and the Trust Common Securities; provided,

                                       16
<PAGE>

however, that the Regular Trustees shall cause legal title to the Company
Securities to be held of record in the name of the Property Trustee for the
benefit of the Holders;

      (d) To give the Guarantor and the Property Trustee prompt written notice
of the occurrence of a Trust Special Event; provided that the Regular Trustees
shall consult with the Guarantor and the Property Trustee before taking or
refraining from taking any Ministerial Action in relation to a Trust Special
Event;

      (e) To establish a record date with respect to all actions to be taken
hereunder that require a record date to be established, including and with
respect to, for the purposes of Section 316(c) of the Trust Indenture Act,
Dividends, voting rights, redemptions and exchanges, and to issue relevant
notices to the Holders of Trust Preferred Securities and the Holders of the
Trust Common Securities as to such actions and applicable record dates;

      (f) To give prompt written notice to the Holders of any notice received
from the Company of the Company's election not to make a current, quarterly
distribution on the Company Securities under the Company Securities Rights
Agreement;

      (g) To take all actions and perform such duties as may be required of the
Regular Trustees pursuant to the terms of the Trust Securities;

      (h) To bring or defend, pay, collect, compromise, arbitrate, resort to
legal action, or otherwise adjust claims or demands of or against the Trust
("Legal Action"), unless pursuant to Section 3.08(f), the Property Trustee has
the exclusive power to bring such Legal Action;

      (i) To employ or otherwise engage employees and agents (who may be
designated as officers with titles) and managers, contractors, advisors, and
consultants and pay reasonable compensation for such services;

      (j) To cause the Trust to comply with the Trust's obligations under the
Trust Indenture Act, subject to the terms and provisions hereof;

      (k) To give the certificate required by Section 314(a)(4) of the Trust
Indenture Act to the Property Trustee, which certificate may be executed by any
Regular Trustee;

      (l) To incur expenses that are necessary or incidental to carrying out any
of the purposes of the Trust;

      (m) To act as, or appoint another Person to act as, registrar and transfer
agent for the Trust Securities;

                                       17
<PAGE>

      (n) To execute all documents or instruments, perform all duties and
powers, and do all things for and on behalf of the Trust in all matters
necessary or incidental to the foregoing;

      (o) To take all action that may be necessary or appropriate for the
preservation and the continuation of the Trust's valid existence, rights,
franchises and privileges as a statutory trust under the laws of the State of
Delaware and of each other jurisdiction in which such existence is necessary to
protect the limited liability of the Holders of the Trust Preferred Securities
or to enable the Trust to effect the purposes for which the Trust was created;

      (p) To take any action, or to take no action, not inconsistent with this
Trust Agreement or with applicable law, that the Regular Trustees determine in
their discretion to be necessary or desirable in carrying out the activities of
the Trust as set out in this Section 3.06; and

      (q) To take all action necessary to cause all applicable tax returns and
tax information reports that are required to be filed with respect to the Trust
to be duly prepared and filed by the Regular Trustees, on behalf of the Trust.

      The Regular Trustees must exercise the powers set forth in this Section
3.06 in a manner that is consistent with the purposes and functions of the Trust
set out in Section 3.03, and the Regular Trustees shall not take any action that
is inconsistent with the purposes and functions of the Trust set forth in
Section 3.03.

      Subject to this Section 3.06, the Regular Trustees shall have none of the
powers or the authority of the Property Trustee set forth in Section 3.08.

      Any expenses incurred by the Regular Trustees pursuant to this Section
3.06 shall be reimbursed by the [Trust Common Securities Owner] pursuant to the
Services Agreement.

      Section 3.07. Prohibition of Actions by the Trust and the Trustees. The
Trust shall not, and the Trustees (including the Property Trustee) shall use
commercially reasonable efforts to cause the Trust not to, engage in any
activity other than as required or authorized by this Trust Agreement. In
particular, the Trust shall not and the Trustees (including the Property
Trustee) shall use commercially reasonable efforts to cause the Trust not to:

      (a) invest any proceeds received by the Trust from holding the Company
Securities, but shall distribute all such proceeds to Holders of Trust
Securities pursuant to the terms of this Trust Agreement and of the Trust
Securities;

      (b) acquire any assets other than as expressly provided herein;

      (c) possess Trust property for other than a Trust purpose;

                                       18
<PAGE>

      (d) make any loans or incur any indebtedness or acquire any securities
other than the Company Securities;

      (e) possess any power or otherwise act in such a way as to vary the Trust
assets or the terms of the Trust Securities in any way whatsoever, except as
otherwise specifically provided herein;

      (f) issue any securities or other evidences of beneficial ownership of, or
beneficial interest in, the Trust other than the Trust Securities;

      (g) other than as set forth herein, consent to any amendment, modification
or termination of the Company Securities Rights Agreement or the Company
Securities where such consent shall be required; and

      (h) other than in connection with the liquidation of the Trust pursuant to
a Trust Special Event or upon redemption of all the Trust Securities, file a
certificate of cancellation of the Trust.

      Section 3.08. Powers and Duties of the Property Trustee. (a) The legal
title to the Company Securities shall be owned by and held of record in the name
of the Property Trustee in trust for the benefit of the Holders of the Trust
Securities in accordance with this Trust Agreement. The right, title and
interest of the Property Trustee to the Company Securities shall vest
automatically in each Person who may hereafter be appointed as Property Trustee
in accordance with Section 6.07. Such vesting and cessation of title shall be
effective whether or not conveyancing documents with regard to the Company
Securities have been executed and delivered.

      (b) The Property Trustee shall not transfer its right, title and interest
in the Company Securities to the Regular Trustees or to the Delaware Trustee (if
the Property Trustee does not also act as Delaware Trustee).

      (c) The Property Trustee shall:

            (i) establish and maintain a segregated non-interest bearing trust
      account (the "Property Account") in the name of and under the exclusive
      control of the Property Trustee on behalf of the Holders and, upon the
      receipt of payments of funds made in respect of the Company Securities
      held by the Property Trustee (which payments shall include, but not be
      limited to, distributions made pursuant to any Company Securities
      Guarantee and any LLC Contingent Guarantee), deposit such funds into the
      Property Account and make payments to the Holders from the Property
      Account in accordance with Section 7.01. Funds in the Property Account
      shall be held uninvested until disbursed in accordance with this Trust
      Agreement. The Property Account shall be an account that is maintained
      with a banking institution authorized to exercise corporate trust powers
      and having a combined capital and surplus of at least

                                       19
<PAGE>

      $50,000,000 and subject to supervision or examination by federal or state
      authority;

            (ii) engage in such ministerial activities as shall be necessary or
      appropriate to effect the redemption of the Trust Preferred Securities and
      the Trust Common Securities to the extent the Company Securities are
      redeemed; and

            (iii) upon written notice of distribution issued by the Regular
      Trustees in accordance with the terms of the Trust Securities, engage in
      such ministerial activities as shall be necessary or appropriate to effect
      the distribution of the Company Securities to Holders upon the occurrence
      of a Trust Special Event.

      (d) The Property Trustee shall take all actions and perform all such
duties as may be specifically required of the Property Trustee pursuant to the
terms of the Trust Securities.

      (e) The Property Trustee may take any Legal Action which arises out of or
in connection with (i) a Trust Enforcement Event of which a Responsible Officer
of the Property Trustee has actual knowledge or (ii) the Property Trustee's
duties and obligations under this Trust Agreement or the Trust Indenture Act.

      (f) For so long as the Property Trustee is the holder of record of the
Company Securities, the Property Trustee shall have the legal power to exercise
all of the rights, powers and privileges of a holder of record of Company
Securities and, if a Trust Enforcement Event occurs and is continuing, the
Property Trustee shall, for the benefit of Holders, enforce its rights as holder
of record of the Company Securities, subject to the rights of the Holders
pursuant to the terms of such Trust Securities including (i) the right to vote,
as directed by a Majority in liquidation amount of the Trust Preferred
Securities, for the election of two Special Directors to the Board (to the
extent that such Trust Enforcement Event results from a Company Enforcement
Event), (ii) the rights of the Holders of the Company Securities under any
Company Securities Guarantee as it relates thereto, (iii) the rights of the
holders of record of the Company Securities to receive Dividends (only if and to
the extent declared by the Company or deemed to have been declared under the
Company Securities Guarantee) on the Company Securities, (iv) in the case of a
Trust Enforcement Event set forth in clause (iii) of the definition of "Trust
Enforcement Event" in Section 1.01 hereof, the right to vote, as directed by a
Majority in liquidation amount of the Trust Preferred Securities, for the
election of the Guarantee Independent Director and (v) the right of the holder
of record of the Company Securities to receive the LLC Contingent Distribution,
if any.

      (g) The Property Trustee may authorize one or more Persons to pay
Dividends, redemption payments or liquidation payments on behalf of the Trust
(each, a "Paying Agent") with respect to all Trust Securities and any such
Paying

                                       20
<PAGE>

Agent shall comply with Section 317(b) of the Trust Indenture Act. Any Paying
Agent may be removed by the Property Trustee at any time and one or more
successor Paying Agents or additional Paying Agents may be appointed at any time
by the Property Trustee.

      (h) The Property Trustee shall continue to serve as a Trustee until
either:

            (i) the Trust has been completely liquidated and the proceeds of the
      liquidation distributed to the Holders pursuant to the terms of the Trust
      Securities; or

            (ii) a Successor Property Trustee has been appointed and has
      accepted that appointment in accordance with Section 6.07.

            (iii) Subject to this Section 3.08, the Property Trustee shall have
      none of the duties, liabilities, powers or authority of the Regular
      Trustees set forth in Section 3.06.

      The Property Trustee must exercise the powers set forth in this Section
3.08 in a manner that is consistent with the purposes and functions of the Trust
set out in Section 3.03, and the Property Trustee shall not take any action that
is inconsistent with the purposes and functions of the Trust set out in Section
3.03.

      Section 3.09. Certain Duties and Responsibilities of the Property Trustee.
(a) The Property Trustee, before the occurrence of any Trust Enforcement Event
and after the curing or waiver of all Trust Enforcement Events that may have
occurred, shall undertake to perform only such duties as are specifically set
forth in this Trust Agreement and no implied covenants shall be read into this
Trust Agreement against the Property Trustee. In case a Trust Enforcement Event
has occurred (that has not been cured or waived pursuant to Section 2.06) of
which a Responsible Officer of the Property Trustee has actual knowledge, the
Property Trustee shall exercise such of the rights and powers vested in it by
this Trust Agreement, and use the same degree of care and skill in their
exercise, as a prudent person would exercise or use under the circumstances in
the conduct of his or her own affairs.

      (b) No provision of this Trust Agreement shall be construed to relieve the
Property Trustee from liability for its own negligent action, its own negligent
failure to act, or its own willful misconduct, except that:

            (i) prior to the occurrence of a Trust Enforcement Event and after
      the curing or waiving of all such Trust Enforcement Events that may have
      occurred:

                  (A) the duties and obligations of the Property Trustee shall
            be determined solely by the express provisions of this Trust

                                       21
<PAGE>

            Agreement and the Property Trustee shall not be liable except for
            the performance of such duties and obligations as are specifically
            set forth in this Trust Agreement, and no implied covenants or
            obligations shall be read into this Trust Agreement against the
            Property Trustee; and

                  (B) in the absence of bad faith on the part of the Property
            Trustee, the Property Trustee may conclusively rely, as to the truth
            of the statements and the correctness of the opinions expressed
            therein, upon any certificates or opinions furnished to the Property
            Trustee and conforming to the requirements of this Trust Agreement;
            but in the case of any such certificates or opinions that by any
            provision hereof are specifically required to be furnished to the
            Property Trustee, the Property Trustee shall be under a duty to
            examine the same to determine whether or not they conform to the
            requirements of this Trust Agreement, but need not confirm or
            investigate the accuracy of any mathematical calculations or other
            facts stated therein;

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

            (iii) subject to the requirement of the Property Trustee receiving a
      tax opinion as set forth in Section 8.05(d) or (f), as the case may be,
      the Property Trustee shall not be liable with respect to any action taken
      or omitted to be taken by it in good faith in accordance with the
      direction of the Holders of not less than a Majority in liquidation amount
      of the Trust Securities relating to the time, method and place of
      conducting any proceeding for any remedy available to the Property
      Trustee, or exercising any trust or power conferred upon the Property
      Trustee under this Trust Agreement;

            (iv) no provision of this Trust Agreement shall require the Property
      Trustee to expend or risk its own funds or otherwise incur personal
      financial liability in the performance of any of its duties or in the
      exercise of any of its rights or powers, if it shall have reasonable
      grounds for believing that the repayment of such funds or liability is not
      reasonably assured to it under the terms of this Trust Agreement or
      indemnity reasonably satisfactory to the Property Trustee against such
      expense, risk or liability is not reasonably assured to it;

            (v) the Property Trustee's sole duty with respect to the custody,
      safe keeping and physical preservation of the Company Securities and the
      Property Account shall be to deal with such property in a similar manner
      as the Property Trustee deals with similar property for its own account,

                                       22
<PAGE>

      subject to the protections and limitations on liability afforded to the
      Property Trustee under this Trust Agreement and the Trust Indenture Act;

            (vi) the Property Trustee shall have no duty or liability for or
      with respect to the value, genuineness, existence or sufficiency of the
      Company Securities or the payment of any taxes or assessments levied
      thereon or in connection therewith;

            (vii) money held by the Property Trustee need not be segregated from
      other funds held by it except in relation to the Property Account
      maintained by the Property Trustee pursuant to Section 3.08(c)(i) and
      except to the extent otherwise required by law; and

            (viii) the Property Trustee shall not be responsible for monitoring
      the compliance by the Regular Trustees, the Guarantor or the Sponsor with
      their respective duties under this Trust Agreement, nor shall the Property
      Trustee be liable for any default or misconduct of the Regular Trustees,
      the Guarantor or the Sponsor.

      Section 3.10. Certain Rights of Property Trustee. (a) Subject to the
provisions of Section 3.09:

            (i) the Property Trustee may conclusively rely and shall be fully
      protected in acting or refraining from acting upon any resolution,
      certificate, statement, instrument, opinion, report, notice, request,
      direction, consent, order, bond, debenture, note, other evidence of
      indebtedness or other paper or document (whether in its original or
      facsimile form) believed by it to be genuine and to have been signed, sent
      or presented by the proper party or parties;

            (ii) any direction or act of the Sponsor, the Guarantor or the
      Regular Trustees acting on behalf of the Trust contemplated by this Trust
      Agreement shall be sufficiently evidenced by an Officers' Certificate;

            (iii) whenever in the administration of this Trust Agreement, the
      Property Trustee shall deem it desirable that a matter be proved or
      established before taking, suffering or omitting any action hereunder, the
      Property Trustee (unless other evidence is herein specifically prescribed)
      may, in the absence of bad faith on its part, request and conclusively
      rely upon an Officers' Certificate which, upon receipt of such request,
      shall be promptly delivered by the Sponsor, the Guarantor or the Regular
      Trustees;

            (iv) the Property Trustee shall have no duty to see to any
      recording, filing or registration of any instrument (including any
      financing or continuation statement or any filing under tax or securities
      laws) or any rerecording, refiling or reregistration thereof;

                                       23
<PAGE>

            (v) the Property Trustee may, at the expense of the [Trust Common
      Securities Owner], consult with counsel or other experts of its own
      selection and the advice or opinion of such counsel or experts with
      respect to legal matters or advice within the scope of such counsel or
      experts' area of expertise shall be full and complete authorization and
      protection in respect of any action taken, suffered or omitted by it
      hereunder in good faith and in accordance with such advice or opinion;
      such counsel may be counsel to the [Trust Common Securities Owner] or any
      of its Affiliates, and may include any of its employees. The Property
      Trustee shall have the right at any time to seek instructions concerning
      the administration of this Trust Agreement from any court of competent
      jurisdiction;

            (vi) the Property Trustee shall be under no obligation to exercise
      any of the rights or powers vested in it by this Trust Agreement at the
      request or direction of any Holder, unless (a) such Holder shall have
      provided to the Property Trustee security and indemnity, reasonably
      satisfactory to the Property Trustee, against the fees, charges, costs,
      expenses (including attorneys' fees and expenses and the expenses of the
      Property Trustee's agents, nominees or custodians) and liabilities that
      might be incurred by it in complying with such request or direction,
      including such reasonable advances as may be requested by the Property
      Trustee and (b) the Property Trustee has been provided with the legal
      opinions, if any, required by Section 8.05(d) or (f), as the case may be,
      of this Agreement; provided, that, nothing contained in this Section
      3.10(a)(vi) shall be taken to relieve the Property Trustee, upon the
      occurrence of a Trust Enforcement Event, of its obligation to exercise the
      rights and powers vested in it by this Trust Agreement;

            (vii) the Property Trustee shall not be bound to make any
      investigation into the facts or matters stated in any resolution,
      certificate, statement, instrument, opinion, report, notice, request,
      direction, consent, order, bond, debenture, note, other evidence of
      indebtedness or other paper or document, but the Property Trustee, in its
      discretion, may make such further inquiry or investigation into such facts
      or matters as it may see fit, but shall incur no liability or additional
      liability of any kind by reason of such inquiry or investigation;

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

            (ix) any action taken by the Property Trustee or its agents
      hereunder shall bind the Trust and the Holders, and the signature of the
      Property Trustee or its agents alone shall be sufficient and effective to

                                       24
<PAGE>

      perform any such action and no third party shall be required to inquire as
      to the authority of the Property Trustee to so act or as to its compliance
      with any of the terms and provisions of this Trust Agreement, both of
      which shall be conclusively evidenced by the Property Trustee's or its
      agent's taking such action;

            (x) whenever in the administration of this Trust Agreement the
      Property Trustee shall deem it desirable to receive instructions with
      respect to enforcing any remedy or right or taking any other action
      hereunder, the Property Trustee (i) may request instructions from the
      Holders which instructions may only be given by the Holders of the same
      proportion in liquidation amount of the Trust Securities as would be
      entitled to direct the Property Trustee under the terms of the Trust
      Securities in respect of such remedy, right or action, (ii) may refrain
      from enforcing such remedy or right or taking such other action until such
      instructions are received and (iii) shall be protected in conclusively
      relying on or acting in accordance with such instructions; provided,
      however, that the Property Trustee shall not be required to take any
      action unless it shall have obtained such legal opinions, if any, required
      by Section 8.05(d) or (f), as the case may be, of this Trust Agreement;

            (xi) except as otherwise expressly provided by this Trust Agreement,
      the Property Trustee shall not be under any obligation to take any action
      that is discretionary under the provisions of this Trust Agreement;

            (xii) the Property Trustee shall not be liable for any action taken,
      suffered, or omitted to be taken by it in good faith and reasonably
      believed by it to be authorized or within the discretion or rights or
      powers conferred upon it by this Trust Agreement;

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

            (xiv) in the event that direction from the Regular Trustees is
      required hereunder, the Property Trustee, at its option, may make
      application to the Regular Trustee for written instructions and any such
      application shall set forth in writing any action proposed to be taken or
      omitted by the Property Trustee under this Trust Agreement and the date on
      and/or after which such action shall be taken or such omission shall be
      effective. The Property Trustee shall not be liable for any action taken
      by, or omission of, the Property Trustee in accordance with a proposal

                                       25
<PAGE>

      included in such application on or after the date specified in such
      application (which date shall not be less than three Business Days after
      the date any Regular Trustee actually receives such application, unless
      any such Regular Trustee shall have consented in writing to any earlier
      date) unless prior to taking any such action (or the effective date in the
      case of an omission), the Property Trustee shall have received written
      instructions in response to such application providing the directions
      required to be given hereunder.

            In the event that the Property Trustee is also acting as
      authenticating agent, Paying Agent, transfer agent and security registrar,
      the rights, privileges, immunities, benefits and protections afforded to
      the Property Trustee pursuant to this Article 3 shall also be afforded to
      such authenticating agent, Paying Agent, transfer agent and security
      registrar and to each agent, custodian and other Person employed to act
      hereunder.

      (b) No provision of this Trust Agreement shall be deemed to impose any
duty or obligation on the Property Trustee to perform any act or acts or
exercise any right, power, duty or obligation conferred or imposed on it, in any
jurisdiction in which it shall be illegal, or in which the Property Trustee
shall be unqualified or incompetent in accordance with applicable law, to
perform any such act or acts, or to exercise any such right, power, duty or
obligation. No permissive power or authority available to the Property Trustee
shall be construed to be a duty.

      Section 3.11. Delaware Trustee. Notwithstanding any provision of this
Trust Agreement other than Section 3.11, 6.02, the Delaware Trustee shall not be
entitled to exercise any powers, nor shall the Delaware Trustee have any of the
duties and responsibilities of the Regular Trustees or the Property Trustee
described in this Trust Agreement. Except as set forth in Section 3.11, 6.02,
the Delaware Trustee shall be a Trustee for the sole and limited purpose of
fulfilling the requirements of Section 3807 of the Statutory Trust Act. In no
event shall the Property Trustee or the Delaware Trustee be liable for any act
or omission of any of the Regular Trustees hereunder.

      Section 3.12. Execution of Documents. Unless otherwise determined by the
Regular Trustees, and except as otherwise required by the Statutory Trust Act,
any Regular Trustee is authorized to execute on behalf of the Trust any
documents that the Regular Trustees have the power and authority to cause the
Trust to execute pursuant to Section 3.06.

      Section 3.13. Not Responsible for Recitals or Issuance of Trust
Securities. The recitals contained in this Trust Agreement and the Trust
Securities shall be taken as the statements of the Sponsor and the Guarantor,
and the Trustees do not assume any responsibility for their correctness. The
Trustees make no representations as to the value or condition of the property of
the Trust or any part

                                       26
<PAGE>

thereof. The Trustees make no representations as to the validity or sufficiency
of this Trust Agreement or the Trust Securities.

      Section 3.14. Duration of Trust. The Trust, unless terminated pursuant to
the provisions of Article 9 hereof, shall have perpetual existence.

      Section 3.15. Mergers. (a) The Trust may not consolidate, convert,
amalgamate, or merge with or into, be replaced by, or convey, transfer or lease
its properties and assets substantially as an entirety to, any corporation or
other body, except as described in Section 3.15(b) and (c).

      (b) Trust may, with the consent of a majority of the Regular Trustees and
without the consent of the Holders, the Delaware Trustee or the Property
Trustee, consolidate, amalgamate, or merge with or into, or be replaced by, a
trust organized as such under the laws of any State of the United States;
provided that:

            (i) if the Trust is not the survivor, such successor entity (the
      "Successor Entity") either:

                  (A) expressly assumes all of the obligations of the Trust
            under the Trust Securities; or

                  (B) substitutes for the Trust Preferred Securities other
            securities having substantially the same terms as the Trust
            Preferred Securities (the "Successor Trust Preferred Securities") so
            long as the Successor Trust Preferred Securities rank the same as
            the Trust Preferred Securities rank with respect to Dividends,
            assets and payments upon liquidation, redemption and otherwise;

            (ii) the Company expressly acknowledges a trustee of the Successor
      Entity that possesses the same powers and duties as the Property Trustee
      as the record holder of the Company Securities;

            (iii) the Trust Preferred Securities or any Successor Trust
      Preferred Securities are listed, or any Successor Trust Preferred
      Securities will be listed upon notification of issuance, on any national
      securities exchange or with another organization on which the Trust
      Preferred Securities are then listed or quoted;

            (iv) such merger, consolidation, amalgamation or replacement does
      not cause the Trust Preferred Securities (including any Successor Trust
      Preferred Securities) to be downgraded by any nationally recognized
      statistical rating organization;

            (v) such merger, consolidation, amalgamation or replacement does not
      adversely affect the rights, preferences and privileges of the

                                       27
<PAGE>

      Holders of the Trust Preferred Securities (including any Successor Trust
      Preferred Securities) in any material respect;

            (vi) such Successor Entity has a purpose substantially identical to
      that of the Trust;

            (vii) the Guarantor guarantees the obligations of such Successor
      Entity under the Successor Trust Securities to the same extent as provided
      by the Trust Securities Guarantee; and

            (viii) prior to such merger, consolidation, amalgamation or
      replacement, the Guarantor has received an opinion of a nationally
      recognized law firm experienced in such matters (which may be counsel to
      the Guarantor) to the effect that:

                  (A) such merger, consolidation, amalgamation or replacement
            will not adversely affect the rights, preferences and privileges of
            the Holders of the Trust Preferred Securities (including any
            Successor Trust Preferred Securities) in any material respect;

                  (B) following such merger, consolidation, amalgamation or
            replacement, neither the Trust nor the Successor Entity will be
            required to register as an Investment Company under the 1940 Act;

                  (C) following such merger, consolidation, amalgamation or
            replacement, the Trust (or the Successor Entity) will be classified
            as a grantor trust for United States federal income tax purposes;
            and

                  (D) following such merger, consolidation, amalgamation or
            replacement, the Company, if a Capital Funding LLC, will not be
            classified as an association or a publicly traded partnership
            taxable as a corporation for United States federal income tax
            purposes.

      (c) Notwithstanding Section 3.15(b), the Trust shall not, except with the
unanimous consent of the Holders of the Trust Preferred Securities, consolidate,
amalgamate, or merge with or into, or be replaced by, any other entity or permit
any other entity to consolidate, amalgamate, or merge with or into, or replace
it, if such consolidation, amalgamation, merger or replacement would cause the
Trust or such Successor Entity not to be classified as a grantor trust for
United States federal income tax purposes.

                                       28
<PAGE>

                                    ARTICLE 4
                                    GUARANTOR

      Section 4.01. Responsibilities of the Guarantor. In connection with the
issue and sale of the Trust Preferred Securities, the Guarantor shall have the
exclusive right and responsibility to engage in the following activities:

      (a) To prepare for filing by the Trust with the Commission any
post-effective amendments or supplements to the registration statement No.
333-104778 on Form F-3;

      (b) To determine the states in which to take appropriate action to qualify
or register for sale all or part of the Trust Preferred Securities and to do any
and all such acts, other than actions which must be taken by the Trust, and
advise the Trust of actions it must take, and prepare for execution and filing
any documents to be executed and filed by the Trust, as the Guarantor deems
necessary or advisable in order to comply with the applicable laws of any such
states;

      (c) To prepare for filing by the Trust applications to the [New York Stock
Exchange, Inc.] and the [Luxembourg Stock Exchange] for listing upon notice of
issuance of any Trust Preferred Securities;

      (d) To prepare for filing by the Trust with the Commission a registration
statement on Form 8-A relating to the registration of the Trust Preferred
Securities under Section 12(b) of the Exchange Act, including any amendments
thereto; and

      (e) To negotiate the terms of an underwriting agreement and any pricing
agreement providing for the sale of the Trust Preferred Securities.

      Section 4.02. Indemnification and Expenses of the Trustee. The Guarantor
agrees to indemnify the Property Trustee and the Delaware Trustee, any
predecessor Property Trustee and predecessor Delaware Trustee, and their
respective officers, directors, employees and agents for, and to hold each of
them harmless against, any and all loss, liability, claim, damage or expense
(including taxes other than taxes based on the income of the Property Trustee or
the Delaware Trustee) incurred without negligence or willful misconduct on the
part of the Property Trustee or the Delaware Trustee, as the case may be,
arising out of or in connection with the acceptance or administration of the
trust or trusts hereunder, including the costs and expenses of defending either
of them against any claim or liability in connection with the exercise or
performance of any of their respective powers or duties hereunder. The
provisions of this Section 4.02 shall survive the resignation or removal of the
Delaware Trustee or the Property Trustee or the termination of this Trust
Agreement.

      Section 4.03. Covenants of the Guarantor. (a) The Guarantor, for so long
as any Trust Securities or Company Securities remain outstanding, shall not
issue any preferred or preference shares ranking senior in liquidation to its
obligations

                                       29
<PAGE>

under the Guarantees or the Contingent Guarantee or give any guarantee in
respect of any preferred securities or preferred or preference shares issued by
any of its subsidiaries if such guarantee would rank senior to the Guarantees or
the Contingent Guarantee, unless the Guarantees and the Contingent Guarantee are
amended to give the Holders and the holders of the Company Securities such
rights and entitlements as are contained in or attached to such other guarantee
so that the Guarantees and the Contingent Guarantee rank pari passu with such
guarantee and pari passu on liquidation with any declared dividend or declared
liquidation payments of such preferred or preference shares.

      (b) (i) The Guarantor shall pay all amounts required to be paid pursuant
to the Guarantees and the Contingent Guarantee in respect of any Dividends on
the Trust Preferred Securities and, where the Company Securities consist of
Class B Preferred Securities, any Dividends on such Class B Preferred Securities
payable in respect of the most recent Dividend Period prior to any dividend or
other payment (except dividends in the form of the Ordinary Shares) upon the
Ordinary Shares (whether issued directly or by a subsidiary of the Guarantor and
entitled to the benefits of a guarantee ranking junior to the Guarantees and the
Contingent Guarantee).

      (ii) If the Guarantor has entered into a Trust Contingent Guarantee, the
Guarantor has agreed to pay to the Trust, as and when due and to the extent set
forth in the Contingent Guarantee, the Contingent Guarantee Payments (as defined
in Section 2.01 of the Contingent Guarantee). The Contingent Guarantee may not
be enforced by anyone other than the Guarantee Independent Administrator,
appointed pursuant to and under the circumstances set forth in Section 8.05(l).
The Guarantee Independent Administrator may not enforce the Contingent Guarantee
unless a claim has been made by the Guarantee Trustee or a Holder of Trust
Securities under the Trust Guarantee and any such claim remains unpaid for 180
days or more. The Guarantee Independent Administrator shall enforce the claim of
the Trust under the Contingent Guarantee without prejudice to the claims of the
Guarantee Trustee or the Holders of Trust Securities under the Trust Guarantee.
Upon receipt by the Trust of payments from the Guarantor in respect of any claim
under the Trust Contingent Guarantee ("Trust Contingent Distribution"), such
payments shall be held by the Trust separately from all its other assets, as a
trust for the sole benefit of the Holders of Trust Preferred Securities and the
Guarantee Independent Administrator shall have the sole power to cause the Trust
to distribute the Trust Contingent Distribution pro rata to the Holders of
record of Trust Preferred Securities except to the extent any such Holders
received payments of a related claim under the Trust Guarantee.

      (c) The Guarantor, for so long as any Trust Securities remain outstanding
shall maintain, or shall cause [the Bank or] any one or more Qualified
Subsidiaries thereof (each, a "Potential Securityholder") to maintain, 100%
ownership of the Trust Common Securities. Where the Company is a Capital
Funding LLC, the Guarantor, for so long as any Trust Securities or Class B
Preferred Securities remain outstanding, shall cause the Potential
Securityholder

                                       30
<PAGE>

to maintain 100% ownership of the Company Common Securities and the Trust Common
Securities. The Guarantor may permit the transfer of the Company Common
Securities from one Potential Securityholder to another Potential
Securityholder, provided that prior to such transfer it has received an opinion
of a nationally recognized law firm experienced in such matters to the effect
that (A) the Company, if a Capital Funding LLC, will continue to be treated as a
partnership for United States federal income tax purposes, and such transfer
will not cause the Company to be classified as an association or publicly traded
partnership taxable as a corporation for United States federal income tax
purposes, (B) such transfer will not cause the Company or the Trust to be
required to register under the 1940 Act and (C) such transfer will not adversely
affect the limited liability of the Holders of the Company Securities.

      (d) The Guarantor, for so long as any Trust Securities or, where the
Company is a Capital Funding LLC, Class B Preferred Securities remain
outstanding, (1) shall cause the Trust to remain a statutory trust and not to
voluntarily dissolve, wind up, liquidate or be terminated, except as permitted
by the Trust Agreement, (2) shall use its commercially reasonable efforts to
ensure that the Trust will not be classified as other than a grantor trust for
United States federal income tax purposes, and (3) where the Company is a
Capital Funding LLC, (i) shall cause [the Bank] to maintain 100% ownership of
the Class A Preferred Securities, if any, through a Potential Securityholder,
(ii) shall cause the Company to remain a limited liability company, and (iii)
shall use its commercially reasonable efforts to ensure that the Company will
not be an association or a publicly traded partnership taxable as a corporation
for United States federal income tax purposes.

      (e) The Guarantor, for so long as any of the Trust Securities are
outstanding, shall not permit, or take any action to cause, the dissolution,
liquidation, termination or winding up of the Trust, unless a Trust Special
Event occurs or the Guarantor is itself in liquidation and the approval of the
Dutch Central Bank, if then required, for such action has been received.

      (f) The Guarantor, for so long as any of the Company Securities are
outstanding, shall not permit, or take any action to cause, the dissolution,
liquidation, termination or winding up of the Company, unless the Guarantor is
itself in liquidation and the approval of the Dutch Central Bank, if then
required, for such action has been received and all claims under the Guarantees
and the Contingent Guarantee shall have been paid in full and the Contingent
Distribution shall have been made.

      (g) If the Company Securities are distributed to Holders in connection
with the involuntary or voluntary dissolution, winding-up or liquidation of the
Trust, the Guarantor shall use its commercially reasonable efforts to cause the
Company Securities to be listed on the [New York Stock Exchange], the
[Luxembourg Stock Exchange] or on such other national securities exchange or
similar organization as the Trust Preferred Securities are then listed or quoted
on.

                                       31
<PAGE>

                                    ARTICLE 5
                         TRUST COMMON SECURITIES HOLDER

      Section 5.01. [Trust Common Securities Owner]'s Purchase of Trust Common
Securities. On the Closing Date the [Trust Common Securities Owner] will
purchase all of the Trust Common Securities issued by the Trust, for an amount
at least equal to $[1,000], at the same time as the Trust Preferred Securities
are sold.

                                    ARTICLE 6
                                    TRUSTEES

      Section 6.01. Number of Trustees. The number of Trustees initially shall
be five (5), and:

      (a) At any time before the issuance of any Trust Securities, the [Trust
Common Securities Owner] may, by written instrument, increase or decrease the
number of Trustees; and

      (b) After the issuance of any Trust Securities, the number of Trustees may
be increased or decreased by vote of the Holders of a Majority in liquidation
amount of the Trust Common Securities voting as a class; provided, however, that
the number of Trustees shall in no event be less than three (3); and provided
further that (i) if required by the Statutory Trust Act, one Trustee shall be
the Delaware Trustee; (ii) there shall be at least one Trustee who is an
employee or officer of, or is affiliated with the [Trust Common Securities
Owner] (each, a "Regular Trustee"); and (iii) one Trustee shall be the Property
Trustee for so long as this Trust Agreement is required to qualify as an
indenture under the Trust Indenture Act, and such Property Trustee may also
serve as Delaware Trustee if it meets the applicable requirements.

      Section 6.02. Delaware Trustee. If required by the Statutory Trust Act,
one Trustee (the "Delaware Trustee") shall be:

      (a) A natural person who is a resident of the State of Delaware; or

      (b) If not a natural person, an entity which has its principal place of
business in the State of Delaware, and otherwise meets the requirements of
applicable law, provided that, if the Property Trustee has its principal place
of business in the State of Delaware and otherwise meets the requirements of
applicable law, then the Property Trustee may also be the Delaware Trustee (in
which case Section 3.11 and 6.02 shall have no application).

      Section 6.03. Property Trustee; Eligibility. (a) There shall at all times
be one Trustee which shall act as Property Trustee which shall:

                                       32
<PAGE>

            (i) not be an Affiliate of the Sponsor; and

            (ii) be a corporation organized and doing business under the laws of
      the United States of America or any State or Territory thereof or of the
      District of Columbia, or a corporation or Person permitted by the
      Commission to act as an institutional trustee under the Trust Indenture
      Act, authorized under such laws to exercise corporate trust powers, having
      a combined capital and surplus of at least 50 million U.S. dollars
      ($50,000,000), and subject to supervision or examination by federal,
      state, territorial or District of Columbia authority. If such corporation
      publishes reports of condition at least annually, pursuant to law or to
      the requirements of the supervising or examining authority referred to
      above, then for the purposes of this Section 6.03(a)(ii), the combined
      capital and surplus of such corporation shall be deemed to be its combined
      capital and surplus as set forth in its most recent report of condition so
      published.

      (b) If at any time the Property Trustee shall cease to be eligible to so
act under Section 6.03, the Property Trustee shall immediately resign in the
manner and with the effect set forth in Section 6.07(c).

      (c) If the Property Trustee has or shall acquire any "conflicting
interest" within the meaning of Section 310(b) of the Trust Indenture Act, the
Property Trustee and the Holder of the Trust Common Securities (as if it were
the obligor referred to in Section 310(b) of the Trust Indenture Act) shall in
all respects comply with the provisions of Section 310(b) of the Trust Indenture
Act.

      (d) The Guarantees shall be deemed to be specifically described in this
Trust Agreement for purposes of clause (i) of the first proviso contained in
Section 310(b) of the Trust Indenture Act.

      (e) The initial Property Trustee ("Initial Property Trustee") is [__].

      Section 6.04. Qualifications of Regular Trustees and Delaware Trustee
Generally. Each Regular Trustee and the Delaware Trustee (unless the Property
Trustee also acts as Delaware Trustee) shall be either a natural person who is
at least 21 years of age or a legal entity that shall act through one or more
Authorized Officers.

      Section 6.05. Regular Trustees. The initial Regular Trustees ("Initial
Regular Trustees") shall be: [NAME], [NAME], [NAME], [NAME], and [NAME].

      (a) Except as expressly set forth in this Trust Agreement and except if a
meeting of the Regular Trustees is called with respect to any matter over which
the Regular Trustees have power to act, any power of the Regular Trustees may be
exercised by, or with the consent of, any one such Regular Trustee.

                                       33
<PAGE>

      (b) Unless otherwise determined by the Regular Trustees, and except as
otherwise required by the Statutory Trust Act or applicable law, any Regular
Trustee is authorized to execute on behalf of the Trust any documents which the
Regular Trustees have the power and authority to cause the Trust to execute
pursuant to Section 3.06.

      Section 6.06. Delaware Trustee. The initial Delaware Trustee ("Initial
Delaware Trustee") shall be: [NAME].

      Section 6.07. Appointment, Removal and Resignation of Trustees.

      (a) Subject to Section 6.07(b), Trustees may be appointed or removed
without cause at any time:

            (i) until the issuance of any Trust Securities, by written
      instrument executed by the [Trust Common Securities Owner]; and

            (ii) after the issuance of any Trust Securities, by vote of the
      Holders of a Majority in liquidation amount of the Trust Common
      Securities.

      (b) (i) the Trustee that acts as Property Trustee shall not be removed in
accordance with Section 6.07(a) until a successor Trustee possessing the
qualifications to act as Property Trustee under Section 6.03 (a "Successor
Property Trustee") has been appointed and has accepted such appointment by
written instrument executed by such Successor Property Trustee and delivered to
the Regular Trustees and the Sponsor;

            (ii) the Trustee that acts as Delaware Trustee shall not be removed
      in accordance with Section 6.07(a) until a successor Trustee possessing
      the qualifications to act as Delaware Trustee under Section 3.11, 6.02 and
      6.04 (a "Successor Delaware Trustee") has been appointed and has accepted
      such appointment by written instrument executed by such Successor Delaware
      Trustee and delivered to the Regular Trustees and the Sponsor;

            (iii) no such removal of the Property Trustee or the Delaware
      Trustee shall be effective until all of the fees, charges, and expenses of
      such entity (including reasonable fees and expenses of their agents and/or
      counsel) have been paid.

      (c) A Trustee appointed to office shall hold office until his successor
shall have been appointed or until his death, removal or resignation. Any
Trustee may resign from office (without need for prior or subsequent accounting)
by an instrument in writing signed by the Trustee and delivered to the Sponsor
and the Trust, which resignation shall take effect upon such delivery or upon
such later date as is specified therein; provided, however, that:

                                       34
<PAGE>

            (i) no such resignation of the Trustee that acts as the Property
      Trustee shall be effective:

                  (A) until a Successor Property Trustee has been appointed and
            has accepted such appointment by instrument executed by such
            Successor Property Trustee and delivered to the Trust, the Sponsor
            and the resigning Property Trustee; or

                  (B) until the assets of the Trust have been completely
            liquidated and the proceeds thereof (including, without limitation,
            the Contingent Distribution, if any) distributed to the Holders; and

            (ii) no such resignation of the Trustee that acts as the Delaware
      Trustee shall be effective until a Successor Delaware Trustee has been
      appointed and has accepted such appointment by instrument executed by such
      Successor Delaware Trustee and delivered to the Trust, the Sponsor and the
      resigning Delaware Trustee; and

            (iii) no such resignation of the Property Trustee or the Delaware
      Trustee shall be effective until all of the fees, charges, and expenses of
      such entity (including reasonable fees and expenses of their agents and/or
      counsel) have been paid.

      (d) The Holders of the Trust Common Securities shall use their best
efforts promptly to appoint a Successor Delaware Trustee or Successor Property
Trustee, as the case may be, if the Delaware Trustee or the Property Trustee
delivers an instrument of resignation in accordance with this Section 6.07.

      (e) If no Successor Property Trustee or Successor Delaware Trustee shall
have been appointed and accepted appointment as provided in this Section 6.07
within 60 days after delivery to the Sponsor and the Trust of an instrument of
resignation, the resigning Property Trustee or Delaware Trustee, as applicable,
may petition, at the expense of the Guarantor, any court of competent
jurisdiction for appointment of a Successor Property Trustee or Successor
Delaware Trustee. Such court may thereupon, after prescribing such notice, if
any, as it may deem proper, appoint a Successor Property Trustee or Successor
Delaware Trustee, as the case may be.

      (f) No Property Trustee or Delaware Trustee shall be liable for the acts
or omissions to act of any Successor Property Trustee or Successor Delaware
Trustee, as the case may be.

      Section 6.08. Vacancies among Trustees. If a Trustee ceases to hold office
for any reason and the number of Trustees is not reduced pursuant to Section
6.01, or if the number of Trustees is increased pursuant to Section 6.01, a
vacancy shall occur. A resolution certifying the existence of such vacancy by
the Regular Trustees

                                       35
<PAGE>

or, if there are more than two, a majority of the Regular Trustees shall be
conclusive evidence of the existence of such vacancy. The vacancy shall be
filled with a Trustee appointed in accordance with Section 6.07.

      Section 6.09. Effect of Vacancies. The death, resignation, retirement,
removal, bankruptcy, dissolution, liquidation, incompetence or incapacity to
perform the duties of a Trustee shall not operate to annul the Trust. Whenever a
vacancy in the number of Regular Trustees shall occur, until such vacancy is
filled by the appointment of a Regular Trustee in accordance with Section 6.07,
the Regular Trustees in office, regardless of their number, shall have all the
powers granted to the Regular Trustees and shall discharge all the duties
imposed upon the Regular Trustees by this Trust Agreement.

      Section 6.10. Meetings. If there is more than one Regular Trustee,
meetings of the Regular Trustees shall be held from time to time upon the call
of any Regular Trustee. Regular meetings of the Regular Trustees may be held at
a time and place fixed by resolution of the Regular Trustees. Notice of any
in-person meetings of the Regular Trustees shall be hand delivered or otherwise
delivered in writing (including by facsimile, with a hard copy by overnight
courier) not less than 48 hours before such meeting. Notice of any telephonic
meetings of the Regular Trustees or any committee thereof shall be hand
delivered or otherwise delivered in writing (including by facsimile, with a hard
copy by overnight courier) not less than 24 hours before a meeting. Notices
shall contain a brief statement of the time, place and anticipated purposes of
the meeting. The presence (whether in person or by telephone) of a Regular
Trustee at a meeting shall constitute a waiver of notice of such meeting except
where a Regular Trustee attends a meeting for the express purpose of objecting
to the transaction of any activity on the ground that the meeting has not been
lawfully called or convened. Unless provided otherwise in this Trust Agreement,
any action of the Regular Trustees may be taken at a meeting by vote of a
majority of the Regular Trustees present (whether in person or by telephone) and
eligible to vote with respect to such matter, provided that a Quorum is present,
or without a meeting by the unanimous written consent of the Regular Trustees.
Notwithstanding the foregoing, any and all actions of the Regular Trustees may
be taken by the unanimous written consent of all Regular Trustees.

      Section 6.11. Delegation of Power.

      (a) Any Regular Trustee may, by power of attorney consistent with
applicable law, delegate to any other natural person over the age of 21, his or
her power for the purpose of executing any documents contemplated in Section
3.06, including any registration statement or amendment thereto filed with the
Commission, or making any other governmental filing; and

      (b) The Regular Trustees shall have power to delegate from time to time to
such of their number or to officers of the Trust the doing of such things and
the execution of such instruments either in the name of the Trust or the names
of the Regular Trustees or otherwise as the Regular Trustees may deem expedient,
to the

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<PAGE>

extent such delegation is not prohibited by applicable law or contrary to the
provisions of the Trust, as set forth herein.

      Section 6.12. Merger, Conversion, Consolidation or Succession to Business.
Any corporation into which the Property Trustee or the Delaware Trustee, as the
case may be, may be merged or converted or with which either may be
consolidated, or any corporation resulting from any merger, conversion or
consolidation to which the Property Trustee or the Delaware Trustee, as the case
may be, shall be a party, or any corporation succeeding to all or substantially
all of the corporate trust business of the Property Trustee or the Delaware
Trustee, as the case may be, shall be the successor of the Property Trustee or
the Delaware Trustee, as the case may be, hereunder, provided such corporation
shall be otherwise qualified and eligible under this Article, without the
execution or filing of any paper or any further act on the part of any of the
parties hereto.

                                    ARTICLE 7
                                    DIVIDENDS

      Section 7.01. Dividends.

      (a) Holders of Trust Preferred Securities shall be entitled to receive
cash distributions at a rate per annum of [__] of the stated liquidation
preference of $[__] per Trust Preferred Security. Dividends on the Trust
Preferred Securities will accumulate from the date of initial issuance or the
last Dividend Date (whichever is later) and will be payable [quarterly] in
arrears, on [__],[__],[__] and [__] of each year, commencing on [__] if, as and
when funds available for payment are held by the Property Trustee in the
Property Account. Dividends on the Trust Preferred Securities will not be
cumulative unless otherwise specified in a supplement, schedule or an amendment
hereto. If the Trust Preferred Securities are in the form of a Global
Certificate, the record date for payment of Dividends will be one Business Day
prior to the relevant Dividend Date. If the Trust Preferred Securities are in
the form of Definitive Trust Preferred Security Certificates, the record date
for payment of Dividends shall be the 15th day of the month in which the
relevant Dividend Date falls. In the event that any Dividend Date is not a
Business Day, payment of such Dividends shall be made on the next succeeding
day which is a Business Day (without any interest or other payment in respect
of any such delay) except that, if such Business Day falls in the next
succeeding calendar year, such payment shall be made on the immediately
preceding Business Day (without any reduction of interest or other payments in
respect of such early payment). The amount of Dividends payable for any
Dividend Period will be computed on the basis of a 360-day year of twelve
30-day months, and for any Dividend Period shorter than a three month period,
on the basis of the actual number of days elapsed. Amounts available to the
Trust for Dividends to the Holders of the Trust Preferred Securities will be
limited to payments received by the Trust from the Company on the Company
Securities (which payments shall

                                       37
<PAGE>

include, but not be limited to, distributions made on the Company Securities
pursuant to the Company Securities Guarantee and the Contingent Distribution) or
from the Guarantor pursuant to the Company Securities Guarantee paid by the
Guarantor to the Property Trustee. Dividends on the Company Securities will be
paid only if, as and when declared in the sole discretion of the Company or
deemed declared under any of the Guarantees.

      (b) The right of Holders to receive dividends is noncumulative unless
otherwise specified in a supplement, schedule or an amendment hereto.
Accordingly, if the Property Trustee does not receive a dividend payment on the
Company Securities in respect of any Dividend Period, Holders shall have no
right to receive a dividend in respect of such Dividend Period, and the Trust
shall have no obligation to pay a dividend in respect of such Dividend Period,
whether or not dividends are declared payable in respect of any future Dividend
Period.

      (c) If and to the extent that the Company makes a distribution (including,
without limitation, the Contingent Distribution, if any) on the Company
Securities held by the Property Trustee or the Guarantor makes a payment under
the Company Securities Guarantee (the amount of any such distribution or
guarantee payment being a "Payment Amount"), the Trust shall and the Property
Trustee is directed, to the extent funds are available for that purpose, to make
a Pro Rata distribution of the Payment Amount to the Holders; provided however
that, in the case of the Contingent Distribution only, the amount of payment to
any Holder shall be reduced by the amount that such Holder has actually received
in respect of the same claim under the Trust Securities Guarantee.

                                    ARTICLE 8
                          ISSUANCE OF TRUST SECURITIES

      Section 8.01. Designation and General Provisions Regarding Trust
Securities.

      (a) Unless otherwise provided in a supplement, a schedule, or an amendment
hereto, the Regular Trustees shall on behalf of the Trust issue one class of
preferred securities representing undivided beneficial ownership interests in
the assets of the Trust and one class of common securities representing
undivided beneficial ownership interests in the assets of the Trust as follows:

            (i) Trust Preferred Securities. [__] Trust Preferred Securities of
      the Trust with an aggregate liquidation amount with respect to the assets
      of the Trust of $[__] and a liquidation amount with respect to the assets
      of the Trust of $[__] per preferred security, are hereby designated for
      the purpose of identification only as [__] Noncumulative Guaranteed Trust
      Preferred Securities (the "Trust Preferred Securities"). The Trust
      Preferred Security Certificates evidencing the Trust Preferred Securities

                                       38
<PAGE>

      shall be substantially in the form of Exhibit A-1 to this Trust Agreement,
      with such changes and additions thereto or deletions therefrom as may be
      required by ordinary usage, custom or practice or to conform to the rules
      of any stock exchange on which the Trust Preferred Securities are listed.

            (ii) Trust Common Securities. [__] Trust Common Securities of the
      Trust with an aggregate liquidation amount with respect to the assets of
      the Trust of $[__] and a liquidation amount with respect to the assets of
      the Trust of $[__] per common security, are hereby designated for the
      purposes of identification only as [__] Noncumulative Guaranteed Trust
      Common Securities (the "Trust Common Securities" and, together with the
      Trust Preferred Securities, the "Trust Securities"). The Trust Common
      Security Certificates evidencing the Trust Common Securities shall be
      substantially in the form of Exhibit A-2 to this Trust Agreement, with
      such changes and additions thereto or deletions therefrom as may be
      required by ordinary usage, custom or practice.

      (b) Except as provided in Section 8.02 and 9.02(b) of this Trust
Agreement, the Trust Preferred Securities rank pari passu and payment thereon
shall be made Pro Rata with the Trust Common Securities. The Trust shall issue
no securities or other interests in the assets of the Trust other than the Trust
Preferred Securities and the Trust Common Securities. The issuance of the Trust
Preferred Securities shall not be subject to any preemptive purchase rights of
any Person.

      (c) Any Regular Trustee shall sign the Trust Securities for the Trust by
manual or facsimile signature. In case any Regular Trustee of the Trust who
shall have signed any of the Trust Securities shall cease to be a Regular
Trustee before the Certificates so signed shall be delivered by the Trust, such
Certificates nevertheless may be delivered as though the person who signed such
Certificates had not ceased to be such Regular Trustee; and any Certificate may
be signed on behalf of the Trust by such persons who, at the actual date of
execution of such Trust Security, shall be the Regular Trustees of the Trust,
although at the date of the execution and delivery of the Trust Agreement any
such person was not such a Regular Trustee. Certificates shall be printed,
lithographed or engraved or may be produced in any other manner as is reasonably
acceptable to the Regular Trustees, as evidenced by their execution thereof, and
may have such letters, numbers or other marks of identification or designation
and such legends or endorsements as the Regular Trustees may deem appropriate,
or as may be required to comply with any law or with any rule or regulation of
any stock exchange on which Trust Securities may be listed, or to conform to
usage.

      A Trust Preferred Security shall not be valid until authenticated by the
manual signature of an Authorized Officer of the Property Trustee. A Trust
Common Security shall not be valid until acknowledged by the manual signature of
an Authorized Officer of the Property Trustee. Each such signature shall be
conclusive evidence that the Trust Preferred Security or the Trust Common

                                       39
<PAGE>

Security has been authenticated or acknowledged, as the case may be, under this
Trust Agreement.

      Upon a written order of the Trust, signed by at least one Regular Trustee,
directing the Property Trustee to authenticate and deliver Trust Securities, the
Property Trustee shall authenticate and deliver the Trust Securities for
original issue. The aggregate number of Trust Securities outstanding at any time
shall not exceed the sum of the numbers set forth in Section 8.01(a)(i) and
Section 8.01(a)(ii).

      The Property Trustee may appoint an authenticating agent acceptable to the
Trust to authenticate Trust Securities. An authenticating agent may authenticate
Trust Preferred Securities whenever the Property Trustee may do so. Each
reference in this Trust Agreement to authentication by the Property Trustee
includes authentication by such agent. An authenticating agent has the same
rights as the Property Trustee to deal with the Sponsor or an Affiliate of the
Sponsor.

      (d) The consideration received by the Trust for the issuance of the Trust
Securities shall constitute a contribution to the capital of the Trust and shall
not constitute a loan to the Trust.

      (e) Upon issuance of the Trust Securities as provided in this Trust
Agreement, the Trust Securities so issued shall be deemed to be validly issued,
fully paid and nonassessable, subject to Section 11.01 with respect to the Trust
Common Securities.

      (f) Every Person, by virtue of having become a Holder or a Trust Preferred
Security Beneficial Owner in accordance with the terms of this Trust Agreement,
shall be deemed to have expressly assented and agreed to the terms of, and shall
be bound by, this Trust Agreement.

      Section 8.02. Subordination of Trust Common Securities. Payment of
Dividends and other distributions, amounts on redemption or amounts upon
liquidation of the Trust shall be made Pro Rata among the Trust Common
Securities and the Trust Preferred Securities based on the liquidation
preference thereof; provided, however, that upon the occurrence and during the
continuance of an event of default under the Intercompany Securities or the
Company Securities Guarantee, no payment of Dividends or any other
distributions, amounts on redemption or amounts upon liquidation of the Trust
shall be made to Holders of Trust Common Securities unless payment in full in
cash of all accumulated and unpaid Dividends, amounts on redemption and amounts
upon liquidation of the Trust on the Trust Preferred Securities have been made
or provided for, and all funds immediately available to the Property Trustee
shall first be applied to payment in full in cash of all Dividends or other
distributions, amounts on redemption or amounts upon liquidation of the Trust on
the Trust Preferred Securities then due and payable.

                                       40
<PAGE>

      Section 8.03. Redemption of Trust Securities.

      (a) Upon a purchase of the Company Securities by the Company upon
redemption or otherwise, the proceeds from such purchase shall be simultaneously
applied Pro Rata to redeem Trust Securities having an aggregate liquidation
amount equal to the Company Securities so purchased or redeemed for an amount
equal to $[ ] per Trust Security plus an amount equal to accumulated and unpaid
Dividends, plus Additional Amounts, if any, or such lesser amount as shall be
received by the Trust in respect of the Company Securities so purchased or
redeemed as calculated by the Regular Trustees (the "Redemption Price"). Holders
will be given not less than 30 nor more than 60 days' notice of such redemption.

      (b) If fewer than all the outstanding Trust Securities are to be so
redeemed, the Trust Common Securities and the Trust Preferred Securities will be
redeemed Pro Rata and the Trust Preferred Securities to be redeemed will be
redeemed as described in Section 8.04(b) below.

      (c) If, at any time, a Trust Special Event shall occur and be continuing,
the Regular Trustees shall, unless the Company Securities are redeemed in the
limited circumstances described below, within 90 days following the occurrence
of such Trust Special Event elect to either (i) dissolve the Trust upon not less
than 30 nor more than 60 days' notice to the Holders and upon not less than 30
nor more than 60 days' notice to Euroclear and Cedel, after providing Euroclear
and Cedel with such information relating to such dissolution and the Company
Securities as reasonably requested by either of them, with the result that,
after satisfaction of creditors, if any, of the Trust, Company Securities with
an aggregate stated liquidation amount equal to the aggregate stated liquidation
amount of, with a Dividend rate identical to the Dividend rate of, and
accumulated and unpaid Dividends equal to accumulated and unpaid Dividends on,
and having the same record date for payment as, the Trust Preferred Securities
and the Trust Common Securities outstanding at such time would be distributed on
a Pro Rata basis to the Holders of the Trust Preferred Securities and the Trust
Common Securities in liquidation of such Holders' interests in the Trust;
provided, however, that, if at the time there is available to the Trust the
opportunity to eliminate, within such 90-day period, the Trust Special Event by
taking some Ministerial Action, such as filing a form or making an election, or
pursuing some other similar reasonable measure which in the sole judgment of the
Guarantor has or will cause no adverse effect on the Trust, the Company, the
Guarantor, the Common Securities Holder, the Holders or the Trust Preferred
Security Beneficial Owners and will involve no material cost, the Trust will
pursue such measure in lieu of dissolution or (ii) cause the Trust Preferred
Securities to remain outstanding, provided that in the case of this clause (ii),
the Guarantor shall pay any and all expenses incurred by or payable by the Trust
attributable to the Trust Special Event.

                                       41
<PAGE>

      (d) If the Company Securities are distributed to the Holders of the Trust
Preferred Securities, the Guarantor will use its commercially reasonable efforts
to cause the Company Securities to be listed on the [New York Stock Exchange],
the [Luxembourg Stock Exchange] or on such other national securities exchange or
similar organization as the Trust Preferred Securities are then listed or quoted
on.

      (e) On the date fixed for any distribution of Company Securities, upon
dissolution of the Trust, (i) the Trust Preferred Securities and the Trust
Common Securities will no longer be deemed to be outstanding and (ii)
certificates representing Trust Securities will be deemed to represent the
Company Securities having an aggregate stated liquidation amount equal to the
stated liquidation amount of, and bearing accumulated and unpaid Dividends equal
to accumulated and unpaid Dividends on, such Trust Securities until such
certificates are presented to the Company or its agent for transfer or
reissuance.

      Section 8.04. Redemption Procedures.

      (a) Notice of any redemption of, or notice of distribution of Company
Preferred Securities in exchange for, the Trust Securities (a
"Redemption/Distribution Notice") (which notice will be irrevocable) will be
given by the Trust by mail to each Holder of Trust Securities to be redeemed or
exchanged not fewer than 30 nor more than 60 days before the date fixed for
redemption or exchange thereof which, in the case of a redemption, will be the
date fixed for redemption of the Company Securities. For purposes of the
calculation of the date of redemption or exchange and the dates on which notices
are given pursuant to this Section 8.04, a Redemption/Distribution Notice shall
be deemed to be given on the day such notice is first mailed by first-class
mail, postage prepaid, to Holders. Each Redemption/Distribution Notice shall be
addressed to the Holder at the address of such Holder appearing in the books and
records of the Trust. No defect in the Redemption/Distribution Notice or in the
mailing thereof with respect to any Holder shall affect the validity of the
redemption or exchange proceedings with respect to any other Holder.

      (b) In the event that fewer than all the outstanding Trust Securities are
to be redeemed, the Trust Securities to be redeemed shall be redeemed Pro Rata
from each Holder or pursuant to the rules of any securities exchange on which
the Trust Preferred Securities are then listed, provided that, in respect of
Trust Preferred Securities registered in the name of and held of record by DTC
or its nominee (or any successor Clearing Agency or its nominee) or any nominee,
the distribution of the proceeds of such redemption will be made to each
Clearing Agency Participant (or Person on whose behalf such nominee holds such
securities) in accordance with the procedures applied by such agency or nominee.

      (c) If Trust Securities are to be redeemed and the Trust gives a
Redemption/Distribution Notice, and if the Company or the Guarantor has paid to
the Property Trustee a sufficient amount of cash in connection with the related
redemption of Company Securities, then (A) while the Trust Preferred Securities

                                       42
<PAGE>

are in book-entry only form, by 9:00 am, New York City time, on the redemption
date, the Property Trustee will irrevocably deposit with DTC or its nominee (or
successor Clearing Agency or its nominee) funds sufficient to pay the applicable
Redemption Price with respect to the Trust Preferred Securities and will give
DTC irrevocable instructions and authority to pay the Redemption Price to the
Holders of the Trust Preferred Securities, and (B) with respect to Trust
Preferred Securities issued in definitive form and Trust Common Securities, the
Property Trustee will pay the relevant Redemption Price to the Holders of such
Trust Securities by check mailed to the address of the relevant Holder appearing
on the books and records of the Trust on the redemption date. If a
Redemption/Distribution Notice shall have been given and funds deposited as
required, if applicable, then immediately prior to the close of business on the
date of such deposit, or on the redemption date, as applicable, Dividends will
cease to accumulate on the Trust Securities so called for redemption and all
rights of Holders will cease, except the right of the Holders to receive the
Redemption Price, but without interest on such Redemption Price. If any date
fixed for redemption of Trust Securities is not a Business Day, then payment of
the Redemption Price payable on such date will be made on the next succeeding
day that is a Business Day (and without any interest or other payment in respect
of any such delay) except that, if such Business Day falls in the next calendar
year, such payment will be made on the immediately preceding Business Day
(without any reduction in interest or other payments in respect of such early
payment). If payment of the Redemption Price in respect of any Trust Securities
is improperly withheld or refused and not paid either by the Property Trustee or
by the Guarantor pursuant to the Trust Securities Guarantee, Dividends on such
Trust Securities will continue to accumulate at the then applicable rate from
the original redemption date to the actual date of payment, in which case the
actual payment date will be considered the date fixed for redemption for
purposes of calculating the Redemption Price. For these purposes, the applicable
Redemption Price shall not include Dividends which are being paid to Holders who
were Holders on a relevant record date. Upon satisfaction of the foregoing
conditions, then immediately prior to the close of business on the date of such
deposit or payment, all rights of Holders of such Trust Securities so called for
redemption will cease, except the right of the Holders to receive the Redemption
Price, but without interest on such Redemption Price, and from and after the
date fixed for redemption, such Trust Securities will not accumulate Dividends
or bear interest.

      Neither the Regular Trustees nor the Trust shall be required to register
or cause to be registered the transfer of any Trust Securities that have been
called for redemption.

      (d) Subject to the foregoing and applicable law (including, without
limitation, United States federal securities laws), the Guarantor or its
subsidiaries may at any time and from time to time purchase outstanding Trust
Preferred Securities by tender, in the open market or by private agreement.

      Section 8.05. Voting Rights of Trust Preferred Securities.

                                       43
<PAGE>

      (a) Except as provided under Section 2.06 and this Article 8 and as
otherwise required by the Statutory Trust Act, the Trust Indenture Act and other
applicable law, the Holders of the Trust Preferred Securities will have no
voting rights.

      (b) Subject to the requirement of the Property Trustee being provided with
a tax opinion in certain circumstances set forth in Section 8.05(d) and (f)
below, the Holders of a Majority in liquidation amount of the Trust Preferred
Securities have the right to direct the time, method and place of conducting any
proceeding for any remedy available to the Property Trustee, or direct the
exercise of any trust or power conferred upon the Property Trustee under this
Trust Agreement, including the right to direct the Property Trustee, as record
holder of the Company Securities, to (i) exercise the remedies available to it
under the Company Securities Rights Agreement as a record holder of the Company
Securities, including, where the Company is a Capital Funding LLC, the right to
elect the Special Directors and the Guarantee Independent Director, as the case
may be, of the Company in accordance with the LLC Agreement or (ii) consent to
any amendment, modification, or termination of the Company Securities Rights
Agreement or the Company Securities where such consent shall be required;
provided, however, that where a consent or action under the Company Securities
Rights Agreement would require the consent or act of the holders of more than a
majority of the Company Securities affected thereby, only the record holders of
the percentage of the aggregate stated liquidation amount of the Trust Preferred
Securities which is at least equal to the percentage required under the Company
Securities Rights Agreement may direct the Property Trustee to give such consent
or take such action on behalf of the Trust.

      (c) If the Property Trustee fails to enforce the rights held by it for the
benefit of the Holders under the Company Securities or the Company Securities
Guarantee after a Holder has made a written request, such Holder may, to the
fullest extent permitted by applicable law, institute a legal proceeding
directly against the Company to enforce the rights held by the Property Trustee
for the benefit of the Holders under the Company Securities or directly against
the Guarantor in such Holder's own name to enforce the rights held by the
Property Trustee for the benefit of the Holders under the Company Securities
Guarantee, in each case without first instituting any legal proceeding against
the Property Trustee, the Trust or any other person or entity.

      (d) The Property Trustee shall notify all Holders of the Trust Preferred
Securities of any notice of any Company Enforcement Event actually received by a
Responsible Officer of the Property Trustee from the Company with respect to the
Company Securities. Such notice shall state that such Company Enforcement Event
also constitutes a Trust Enforcement Event. Except with respect to directing the
time, method, and place of conducting a proceeding for a remedy, the Property
Trustee shall be under no obligation to take any of the actions described in
clauses 8.05(b) and 8.05(b) above unless the Property Trustee has been provided
with an opinion of independent tax counsel to the effect that as a result of
such

                                       44
<PAGE>

action, the Trust will not fail to be classified as a grantor trust for United
States federal income tax purposes and that after such action each Holder will
be treated as owning an undivided ownership interest in the Company Securities.

      (e) The Property Trustee shall notify all Holders of the non-payment
within one day following the making of a claim by the Guarantee Trustee or the
record holder of the Company Securities or the Holders under either of the
Guarantees.

      (f) In the event the consent of the Property Trustee, as the record holder
of the Company Securities, is required under the Company Securities Rights
Agreement with respect to any amendment, modification or termination of the
Company Securities Rights Agreement, the Property Trustee shall request the
direction of the Holders with respect to such amendment, modification or
termination and shall vote with respect to such amendment, modification or
termination as directed by a Majority in liquidation amount of the Trust
Securities; provided, however, that where a consent under the Company Securities
Rights Agreement would require the consent of the record holders of more than a
majority in liquidation amount of the Company Securities, the Property Trustee
may only give such consent at the direction of the Holders of at least the same
proportion of the Trust Securities. The Property Trustee shall not take any such
action in accordance with the directions of the Holders unless the Property
Trustee has been provided with an opinion of tax counsel to the effect that as a
result of such action, the Trust will not fail to be classified as a grantor
trust for United States federal income tax purposes.

      (g) A waiver of a Company Enforcement Event with respect to the Company
Securities will constitute a waiver of the corresponding Trust Enforcement
Event.

      (h) Any required approval or direction of Holders of Trust Preferred
Securities may be given at a separate meeting of Holders of Trust Preferred
Securities convened for such purpose, at a meeting of all of the Holders or
pursuant to written consent. The Regular Trustees will cause a notice of any
meeting at which Holders of Trust Preferred Securities are entitled to vote, or
of any matter upon which action by written consent of such Holders is to be
taken, to be mailed to each Holder of Trust Preferred Securities. Each such
notice will include a statement setting forth the following information: (i) the
date of such meeting or the date by which such action is to be taken, (ii) a
description of any resolution proposed for adoption at such meeting on which
such Holders are entitled to vote or of such matter upon which written consent
is sought and (iii) instructions for the delivery of proxies or consents.

      (i) No vote or consent of the Holders of Trust Preferred Securities will
be required for the Trust to redeem and cancel Trust Preferred Securities or
distribute Company Securities in accordance with the Trust Agreement and the
terms of the Trust Securities.

                                       45
<PAGE>

      (j) Notwithstanding that Holders of Trust Preferred Securities are
entitled to vote or consent under any of the circumstances described above, any
of the Trust Securities that are beneficially owned at such time by the
Guarantor or any entity directly or indirectly controlled by, or under direct or
indirect common control with, the Guarantor, shall not be entitled to vote or
consent and shall, for purposes of such vote or consent, be treated as if such
Trust Preferred Securities were not outstanding, except for the Trust Preferred
Securities purchased or acquired by the Guarantor or its affiliates in
connection with transactions effected by or for the account of customers of the
Guarantor or any of its Affiliates or in connection with the distribution or
trading of or market-making in connection with such Trust Preferred Securities;
provided, however, that persons (other than Affiliates of the Guarantor) to whom
the Guarantor or any of its Affiliates have pledged Trust Preferred Securities
may vote or consent with respect to such pledged Trust Preferred Securities
pursuant to the terms of such pledge.

      (k) Holders of the Trust Preferred Securities will have no rights to
appoint or remove the Regular Trustees, Property Trustee or Delaware Trustee who
may be appointed, removed or replaced solely by the Trust Common Securities
Owner, as the Holder of all of the Trust Common Securities.

      (l) Upon occurrence of the non-payment within one day following the making
of a claim under the Trust Securities Guarantee by the Guarantee Trustee or a
Holder of Trust Securities, the Holders of the Trust Preferred Securities shall
be entitled to appoint one independent administrator (the "Guarantee Independent
Administrator"). The Guarantee Independent Administrator shall be appointed by
the Property Trustee as directed by a majority in liquidation amount of the
Holders of the Trust Preferred Securities. Any Guarantee Independent
Administrator so appointed shall vacate office if, in such Guarantee Independent
Administrator's sole determination, the dividends on the Trust Preferred
Securities have been paid regularly at the dividend rate applicable to the
Company Securities in full by the Trust or the Guarantor under the Trust
Guarantee for one calendar year and all other amounts due under the Trust
Guarantee and the Contingent Guarantee have been paid. Any such Guarantee
Independent Administrator may be removed by, and shall not be removed except by,
the vote of a majority in liquidation amount of the Holders of the Trust
Preferred Securities.

      Section 8.06. Voting Rights Of Trust Common Securities.

      (a) Except as provided under Section 8.05 or as otherwise required by the
Statutory Trust Act, the Trust Indenture Act or other applicable law or provided
by the Trust Agreement, all voting rights will be held by the Holders of the
Trust Common Securities.

      (b) The Holders of the Trust Common Securities are entitled, subject to
Article 6 hereof, to vote to appoint, remove or replace any Trustee or to
increase or decrease the number of Trustees.

                                       46
<PAGE>

      (c) A waiver of a Company Enforcement Event with respect to the Company
Securities will constitute a waiver of the corresponding Trust Enforcement
Event.

      (d) Any required approval or direction of Holders of Trust Common
Securities may be given at a separate meeting of Holders of Trust Common
Securities convened for such purpose, at a meeting of all of the Holders or
pursuant to written consent. The Regular Trustees will cause a notice of any
meeting at which Holders of Trust Common Securities are entitled to vote, or of
any matter upon which action by written consent of such Holders is to be taken,
to be mailed to each Holder of Trust Common Securities. Each such notice will
include a statement setting forth the following information: (i) the date of
such meeting or the date by which such action is to be taken, (ii) a description
of any resolution proposed for adoption at such meeting on which such Holders
are entitled to vote or of such matter upon which written consent is sought and
(iii) instructions for the delivery of proxies or consents.

      (e) No vote or consent of the Holders of the Trust Common Securities shall
be required for the Trust to redeem and cancel Trust Common Securities or to
distribute Company Securities in accordance with the Trust Agreement and the
terms of the Trust Securities.

      Section 8.07. Paying Agent. In the event that the Trust Preferred
Securities are not in book-entry only form, the Trust shall maintain in the
Borough of Manhattan, City of New York, State of New York, an office or agency
where the Trust Preferred Securities may be presented for payment ("Paying
Agent"). The Regular Trustees shall appoint the Paying Agent and may appoint one
or more additional paying agents in such other locations as they shall
determine. The term "Paying Agent" includes any additional paying agent. The
Trust may change any Paying Agent without prior notice to any Holder. The Trust
shall notify the Property Trustee of the name and address of any Paying Agent
not a party to this Trust Agreement. If the Trust fails to appoint or maintain
another entity as Paying Agent, the Property Trustee shall act as such. The
Trust or any of its Affiliates may act as Paying Agent. The Property Trustee
shall initially act as Paying Agent for the Trust Preferred Securities and the
Trust Common Securities or it may authorize another Paying Agent pursuant to
Section 3.08(g). The Paying Agent may resign as Paying Agent upon 30 days'
written notice to the Regular Trustees.

      Section 8.08. Acceptance of Guarantees and Agreements. Each Holder of
Trust Preferred Securities and Trust Common Securities, and each Trust Preferred
Security Beneficial Owner, by the acceptance thereof, agrees to the provisions
of the Trust Securities Guarantee, including the subordination provisions
therein.

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                                    ARTICLE 9
                    TERMINATION AND LIQUIDATION OF THE TRUST

      Section 9.01. Dissolution of Trust.

      (a) The Trust shall dissolve:

            (i) upon the bankruptcy, insolvency or dissolution of the Guarantor
      or the Bank;

            (ii) upon the filing of a certificate of dissolution or its
      equivalent with respect to the Company;

            (iii) upon the entry of a decree of judicial dissolution of the
      Company or the Trust;

            (iv) when all of the Trust Securities shall have been called for
      redemption and the amounts necessary for redemption thereof shall have
      been paid to the Holders in accordance with the terms of the Trust
      Securities;

            (v) upon the election of the Regular Trustees, following the
      occurrence and continuation of a Trust Special Event, pursuant to which
      the Trust shall have been dissolved in accordance with the terms of the
      Trust Securities and all of the Company Securities shall have been
      distributed to the Holders in exchange for all of the Trust Securities;

            (vi) before the issuance of any Trust Securities, with the consent
      of all of the Regular Trustees and the Sponsor; or

            (vii) with the consent of at least a Majority in liquidation amount
      of Trust Securities, voting together as a single class;

provided that, if a claim has been made under the Trust Securities Guarantee,
the Trust shall not dissolve until (x) such claim has been satisfied and the
proceeds therefrom have been distributed to the Holders or (y) the Company
Securities have been distributed to the Holders pursuant to Section 9.02 hereof.

      (b) As soon as is practicable after the occurrence of an event referred to
in Section 9.01(a) and in accordance with Section 3810 of the Statutory Trust
Act, a Regular Trustee shall file a certificate of cancellation with the
Secretary of State of the State of Delaware.

      (c) The Trust shall terminate upon the filing of the certificate of
cancellation pursuant to Section 9.01(b) and this Trust Agreement shall be of no
further force and effect, except as provided in Section 9.01(d).

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<PAGE>

      (d) The provisions of Section 3.09 and Article 11 shall survive the
termination of the Trust.

      Section 9.02. Liquidation Distribution upon Termination and Dissolution of
the Trust.

      (a) In the event of any voluntary or involuntary liquidation, dissolution,
winding up or termination of the Trust (each a "Trust Liquidation"), the Holders
on the date of the Trust Liquidation will be entitled to receive, out of the
assets of the Trust available for distribution to Holders after satisfaction of
the Trust's liabilities and creditors, Company Securities in an aggregate stated
liquidation amount equal to the aggregate stated liquidation amount of, with a
Dividend rate identical to the Dividend rate of, and accumulated and unpaid
Dividends equal to accumulated and unpaid Dividends on, such Trust Securities
the ("Trust Liquidation Distribution") on a Pro Rata basis (subject to Section
9.02(b) below) in exchange for such Trust Securities.

      (b) The Holders of the Trust Common Securities will be entitled to receive
distributions upon any such Trust Liquidation Pro Rata with the Holders of the
Trust Preferred Securities except that upon the occurrence and during the
continuance of an event of default under the Intercompany Securities, the Trust
Securities Guarantee or the Company Securities Guarantee, the Trust Preferred
Securities shall have a preference over the Trust Common Securities with regard
to such distributions.

                                   ARTICLE 10
                              TRANSFER OF INTERESTS

      Section 10.01. Transfer of Trust Securities.

      (a) Trust Securities may only be transferred, in whole or in part, in
accordance with the terms and conditions set forth in this Trust Agreement and
in the terms of the Trust Securities. To the fullest extent permitted by
applicable law, any transfer or purported transfer of any Trust Security not
made in accordance with this Trust Agreement shall be null and void. The Trust
Common Securities Owner, as the initial Holder of the Trust Common Securities,
shall have the right to transfer the Trust Common Securities to the Guarantor,
the Bank or any one or more Qualified Subsidiaries. No Person other than the
Bank, Holding, [the Trust Common Securities Owner] or one or more Qualified
Subsidiaries is permitted to own the Trust Common Securities.

      (b) Subject to this Article 10, Trust Preferred Securities shall be freely
transferable.

      Section 10.02. Transfer of Certificates. The Property Trustee shall
provide for the registration of Certificates and of transfers of Certificates,
which

                                       49
<PAGE>

will be effected without charge but only upon payment (with such indemnity as
the Regular Trustees may require) in respect of any tax, fee, assessment or
other government charges that may be imposed in relation to it. Upon surrender
for registration of transfer of any Certificate, the Property Trustee shall
cause one or more new Certificates to be issued in the name of the designated
transferee or transferees. Every Certificate surrendered for registration of
transfer shall be accompanied by a written instrument of transfer in form
satisfactory to the Property Trustee duly executed by the Holder or such
Holder's attorney duly authorized in writing. Each Certificate surrendered for
registration of transfer shall be canceled by the Property Trustee. A transferee
of a Certificate shall be entitled to the rights and be subject to the
obligations of a Holder hereunder upon the receipt by such transferee of a
Certificate. By acceptance of a Certificate, each transferee shall be deemed to
have agreed to be bound by this Trust Agreement.

      Section 10.03. Deemed Security Holders. The Trustees may treat the Person
in whose name any Certificate shall be registered on the books and records of
the Trust as the sole Holder of such Certificate and of the Trust Securities
represented by such Certificate for purposes of receiving Dividends and for all
other purposes whatsoever and, accordingly, shall not be bound to recognize any
equitable or other claim to or interest in such Certificate or in the Trust
Securities represented by such Certificate on the part of any other Person,
whether or not the Trust shall have actual or other notice thereof.

      Section 10.04. Book-entry Interests. The Trust Preferred Securities
Certificates, on original issuance, will be issued in the form of one or more
fully registered, global Trust Preferred Security Certificates (each a "Global
Certificate"), to be deposited with a custodian for DTC, the initial Clearing
Agency, by, or on behalf of, the Trust. Such Global Certificates shall initially
be registered on the books and records of the Trust in the name of Cede & Co.,
the nominee of DTC, and no Trust Preferred Security Beneficial Owner will
receive a definitive Trust Preferred Security Certificate representing such
Trust Preferred Security Beneficial Owner's interests in such Global
Certificates, except as provided in Section 10.07. Unless and until definitive,
fully registered Trust Preferred Security Certificates (the "Definitive Trust
Preferred Security Certificates") have been issued to the Trust Preferred
Security Beneficial Owners pursuant to Section 10.07:

      (a) the provisions of this Section 10.04 shall be in full force and
effect;

      (b) the Trust and the Trustees shall be entitled to deal with the Clearing
Agency for all purposes of this Trust Agreement (including the payment of
Dividends on the Global Certificates and receiving approvals, votes or consents
hereunder) as the Holder of the Trust Preferred Securities and the sole Holder
of the Global Certificates and shall have no obligation to the Trust Preferred
Security Beneficial Owners;

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<PAGE>

      (c) to the extent that the provisions of this Section 10.04 conflict with
any other provisions of this Trust Agreement, the provisions of this Section
10.04 shall control; and

      (d) the rights of the Trust Preferred Security Beneficial Owners shall be
exercised only through the Clearing Agency and shall be limited to those
established by law and agreements between such Trust Preferred Security
Beneficial Owners and the Clearing Agency and/or the Clearing Agency
Participants, and the Clearing Agency shall receive and transmit payments of
Dividends on the Global Certificates to such Clearing Agency Participants. The
Clearing Agency will make book-entry transfers among the Clearing Agency
Participants; provided, that solely for the purposes of determining whether the
Holders of the requisite amount of Trust Preferred Securities have voted on any
matter provided for in this Trust Agreement, so long as Definitive Trust
Preferred Security Certificates have not been issued, the Trustees may
conclusively rely on, and shall be fully protected in relying on, any written
instrument (including a proxy) delivered to the Trustees by the Clearing Agency
setting forth the Trust Preferred Security Beneficial Owners' votes or assigning
the right to vote on any matter to any other Persons either in whole or in part.

      Section 10.05. Notices to Clearing Agency. Whenever a notice or other
communication to the Trust Preferred Security Holders is required under this
Trust Agreement, unless and until Definitive Trust Preferred Security
Certificates shall have been issued to the Trust Preferred Security Beneficial
Owners pursuant to Section 10.07, the Regular Trustees shall give all such
notices and communications specified herein to be given to the Trust Preferred
Security Holders to the Clearing Agency, and shall have no notice obligations to
the Trust Preferred Security Beneficial Owners.

      Section 10.06. Appointment of Successor Clearing Agency. If any Clearing
Agency elects to discontinue its services as securities depositary with respect
to the Trust Preferred Securities, the Regular Trustees shall use their best
efforts to appoint a successor Clearing Agency with respect to such Trust
Preferred Securities.

      Section 10.07. Definitive Trust Preferred Security Certificates. If (a) a
Clearing Agency notifies the Trust that it is unwilling or unable to continue
its services as securities depositary with respect to the Trust Preferred
Securities and a successor Clearing Agency is not appointed within 90 days after
such discontinuance pursuant to Section 10.06, (b) the Regular Trustees elect
after consultation with the Sponsor to terminate the book-entry system through
the Clearing Agency with respect to the Trust Preferred Securities, (c) a
Clearing Agency has ceased to be a clearing agency registered under the Exchange
Act or (d) there shall have occurred and be continuing an Event of Default or
any event which after notice or lapse of time or both would be an Event of
Default under either of the Guarantees, then:

                                       51
<PAGE>

            (i) Definitive Trust Preferred Security Certificates shall be
      prepared by the Property Trustee on behalf of the Trust with respect to
      the Trust Preferred Securities; and

            (ii) upon surrender of the Global Certificates by the Clearing
      Agency, accompanied by registration instructions, the Property Trustee
      shall cause Definitive Trust Preferred Security Certificates to be
      delivered to Trust Preferred Security Beneficial Owners in accordance with
      the instructions of the Clearing Agency. Neither the Trustees nor the
      Trust shall be liable for any delay in delivery of such instructions and
      each of them may conclusively rely on and shall be fully protected in
      relying on, said instructions of the Clearing Agency. The Definitive Trust
      Preferred Security Certificates shall be printed, lithographed or engraved
      or may be produced in any other manner as is reasonably acceptable to the
      Property Trustee, as evidenced by its execution thereof, and may have such
      letters, numbers or other marks of identification or designation and such
      legends or endorsements as the Property Trustee may deem appropriate, or
      as may be required to comply with any law or with any rule or regulation
      made pursuant thereto or with any rule or regulation of any stock exchange
      on which Trust Preferred Securities may be listed, or to conform to usage.

      Section 10.08. Mutilated, Destroyed, Lost or Stolen Certificates. If (a)
any mutilated Certificates should be surrendered to the Property Trustee, or if
the Property Trustee shall receive evidence to its satisfaction of the
destruction, loss or theft of any Certificate and (b) there shall be delivered
to the Property Trustee such security or indemnity as may be required by them to
keep each of them harmless, then, in the absence of notice that such Certificate
shall have been acquired by a bona fide purchaser, the Property Trustee on
behalf of the Trust shall execute and deliver, in exchange for or in lieu of any
such mutilated, destroyed, lost or stolen Certificate, a new Certificate of like
denomination. In connection with the issuance of any new Certificate under this
Section 10.08, the Property Trustee may require the payment of a sum sufficient
to cover any tax, fee, assessment or other governmental charge that may be
imposed in connection therewith. Any duplicate Certificate issued pursuant to
this Section shall constitute conclusive evidence of an ownership interest in
the relevant Trust Securities, as if originally issued, whether or not the lost,
stolen or destroyed Certificate shall be found at any time.

                                   ARTICLE 11
             LIMITATION OF LIABILITY OF HOLDERS OF TRUST SECURITIES,
                               TRUSTEES OR OTHERS

      Section 11.01. Liability.

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<PAGE>

      (a) Except as expressly set forth in this Trust Agreement, the Trust
Securities Guarantee and the terms of the Trust Securities, the Sponsor and the
Trustees shall not be:

            (i) personally liable for the return of any portion of the capital
      contributions (or any return thereon) of the Holders which shall be made
      solely from assets of the Trust; or

            (ii) required to pay to the Trust or to any Holder any deficit upon
      dissolution of the Trust or otherwise.

      (b) The Holders of the Trust Common Securities shall be liable for all of
the debts and obligations of the Trust (other than obligations to the Holders in
their capacities as Holders) to the extent not satisfied out of the Trust's
assets.

      (c) Pursuant to Section 3803(a) of the Statutory Trust Act, the Holders of
the Trust Preferred Securities shall be entitled to the same limitation of
personal liability extended to shareholders of private corporations for profit
organized under the General Corporation Law of the State of Delaware.

      Section 11.02. Exculpation.

      (a) No ABN AMRO Indemnified Person shall be liable, responsible or
accountable in damages or otherwise to the Trust or any Covered Person for any
loss, damage or claim incurred by reason of any act or omission performed or
omitted by such ABN AMRO Indemnified Person in good faith on behalf of the Trust
and in a manner such ABN AMRO Indemnified Person reasonably believed to be
within the scope of the authority conferred on such ABN AMRO Indemnified Person
by this Trust Agreement or by law, except that a ABN AMRO Indemnified Person
shall be liable for any such loss, damage or claim incurred by reason of such
ABN AMRO Indemnified Person's gross negligence or willful misconduct with
respect to such acts or omissions.

      (b) An Indemnified Person shall be fully protected in conclusively relying
in good faith upon the records of the Trust and upon such information, opinions,
reports or statements presented to the Trust by any Person as to matters the
Indemnified Person reasonably believes are within such other Person's
professional or expert competence and who has been selected with reasonable care
by or on behalf of the Trust, including information, opinions, reports or
statements as to the value and amount of the assets, liabilities, profits,
losses, or any other facts pertinent to the existence and amount of assets from
which Dividends to Holders of Trust Securities might properly be paid.

      Section 11.03. Fiduciary Duty.

      (a) To the extent that, at law or in equity, an Indemnified Person has
duties (including fiduciary duties) and liabilities relating thereto to the
Trust or to

                                       53
<PAGE>

any other Covered Person, an Indemnified Person acting under this Trust
Agreement shall not be liable to the Trust or to any other Covered Person for
its good faith reliance on the provisions of this Trust Agreement. The
provisions of this Trust Agreement, to the extent that they restrict the duties
and liabilities of an Indemnified Person otherwise existing at law or in equity
(other than the duties imposed on the Property Trustee under the Trust Indenture
Act), are agreed by the parties hereto to replace such other duties and
liabilities of such Indemnified Person.

      (b) Unless otherwise expressly provided herein:

            (i) whenever a conflict of interest exists or arises between an
      Indemnified Person and any Covered Person; or

            (ii) whenever this Trust Agreement or any other agreement
      contemplated herein or therein provides that an Indemnified Person shall
      act in a manner that is, or provides terms that are, fair and reasonable
      to the Trust or any Holder of Trust Securities,

the Indemnified Person shall resolve such conflict of interest, take such action
or provide such terms, considering in each case the relative interest of each
party (including its own interest) to such conflict, agreement, transaction or
situation and the benefits and burdens relating to such interests, any customary
or accepted industry practices, and any applicable generally accepted accounting
practices or principles. In the absence of bad faith by the Indemnified Person,
the resolution, action or term so made, taken or provided by the Indemnified
Person shall not constitute a breach of this Trust Agreement or any other
agreement contemplated herein or of any duty or obligation of the Indemnified
Person at law or in equity or otherwise.

      (c) Whenever in this Trust Agreement an Indemnified Person is permitted or
required to make a decision:

            (i) in its "discretion" or under a grant of similar authority, the
      Indemnified Person shall be entitled to consider such interests and
      factors as it desires, including its own interests, and shall have no duty
      or obligation to give any consideration to any interest of or factors
      affecting the Trust or any other Person; or

            (ii) in its "good faith" or under another express standard, the
      Indemnified Person shall act under such express standard and shall not be
      subject to any other or different standard imposed by this Trust Agreement
      or by applicable law.

      Section 11.04. Indemnification.

                                       54
<PAGE>

      (a) (i) To the fullest extent permitted by applicable law, the Sponsor
shall indemnify and hold harmless any ABN AMRO Indemnified Person who was or is
a party or is threatened to be made a party to any threatened, pending or
completed action, suit or proceeding, whether civil, criminal, administrative or
investigative (other than an action by or in the right of the Trust) by reason
of the fact that he is or was a ABN AMRO Indemnified Person against expenses
(including attorneys' fees), judgments, fines and amounts paid in settlement
actually and reasonably incurred by him in connection with such action, suit or
proceeding if he acted in good faith and in a manner he reasonably believed to
be in or not opposed to the best interests of the Trust, and, with respect to
any criminal action or proceeding, had no reasonable cause to believe his
conduct was unlawful. The termination of any action, suit or proceeding by
judgment, order, settlement, conviction, or upon a plea of nolo contendere or
its equivalent, shall not, of itself, create a presumption that the ABN AMRO
Indemnified Person did not act in good faith and in a manner which he reasonably
believed to be in or not opposed to the best interests of the Trust, and, with
respect to any criminal action or proceeding, had reasonable cause to believe
that his conduct was unlawful.

            (ii) The Guarantor shall indemnify, to the fullest extent permitted
      by law, any ABN AMRO Indemnified Person who was or is a party or is
      threatened to be made a party to any threatened, pending or completed
      action or suit by or in the right of the Trust to procure a judgment in
      its favor by reason of the fact that he is or was a ABN AMRO Indemnified
      Person against expenses (including attorneys' fees) actually and
      reasonably incurred by him in connection with the defense or settlement of
      such action or suit if he acted in good faith and in a manner he
      reasonably believed to be in or not opposed to the best interests of the
      Trust and except that no such indemnification shall be made in respect of
      any claim, issue or matter as to which such ABN AMRO Indemnified Person
      shall have been adjudged to be liable to the Trust unless and only to the
      extent that the Court of Chancery of Delaware or the court in which such
      action or suit was brought shall determine upon application that, despite
      the adjudication of liability but in view of all the circumstances of the
      case, such person is fairly and reasonably entitled to indemnity for such
      expenses which such Court of Chancery or such other court shall deem
      proper.

            (iii) To the extent that a ABN AMRO Indemnified Person shall be
      successful on the merits or otherwise (including dismissal of an action
      without prejudice or the settlement of an action without admission of
      liability) in defense of any action, suit or proceeding referred to in
      paragraphs (i) and (ii) of this Section 11.04(a), or in defense of any
      claim, issue or matter therein, he shall be indemnified, to the fullest
      extent permitted by law, against expenses (including attorneys' fees)
      actually and reasonably incurred by him in connection therewith.

                                       55
<PAGE>

            (iv) Any indemnification under paragraphs (i) and (ii) of this
      Section 11.04(a) (unless ordered by a court) shall be made by the
      Guarantor only as authorized in the specific case upon a determination
      that indemnification of the ABN AMRO Indemnified Person is proper in the
      circumstances because he has met the applicable standard of conduct set
      forth in paragraphs (i) and (ii). Such determination shall be made (1) by
      the Regular Trustees by a majority vote of a Quorum consisting of such
      Regular Trustees who were not parties to such action, suit or proceeding,
      (2) if such a Quorum is not obtainable, or, even if obtainable, if a
      Quorum of disinterested Regular Trustees so directs, by independent legal
      counsel in a written opinion, or (3) by the Holder of the Trust Common
      Securities.

            (v) Expenses (including attorneys' fees) incurred by a ABN AMRO
      Indemnified Person in defending a civil, criminal, administrative or
      investigative action, suit or proceeding referred to in paragraphs (i) and
      (ii) of this Section 11.04(a) shall be paid by the Guarantor in advance of
      the final disposition of such action, suit or proceeding upon receipt of
      an undertaking by or on behalf of such ABN AMRO Indemnified Person to
      repay such amount if it shall ultimately be determined that he is not
      entitled to be indemnified by the Guarantor as authorized in this Section
      11.04(a). Notwithstanding the foregoing, no advance shall be made by the
      Guarantor if a determination is reasonably and promptly made (i) by the
      Regular Trustees by a majority vote of a Quorum of disinterested Regular
      Trustees, (ii) if such a Quorum is not obtainable, or, even if obtainable,
      if a Quorum of disinterested Regular Trustees so directs, by independent
      legal counsel in a written opinion or (iii) the Holder of the Trust Common
      Securities, that, based upon the facts known to the Regular Trustees,
      counsel or the Holder of the Trust Common Securities at the time such
      determination is made, such ABN AMRO Indemnified Person acted in bad faith
      or in a manner that such person did not believe to be in or not opposed to
      the best interests of the Trust, or, with respect to any criminal
      proceeding, that such ABN AMRO Indemnified Person believed or had
      reasonable cause to believe his conduct was unlawful. In no event shall
      any advance be made in instances where the Regular Trustees, independent
      legal counsel or the Holder of the Trust Common Securities reasonably
      determine that such person deliberately breached his duty to the Trust or
      to the Holders of the Trust Common Securities.

            (vi) The indemnification and advancement of expenses provided by, or
      granted pursuant to, the other paragraphs of this Section 11.04(a) shall
      not be deemed exclusive of any other rights to which those seeking
      indemnification and advancement of expenses may be entitled under any
      agreement, vote of shareholders or disinterested directors of the
      Guarantor or Holders of the Trust Common Securities or otherwise, both as
      to action in his official capacity and as to action in another capacity
      while holding such office. All rights to indemnification under this
      Section

                                       56
<PAGE>

      11.04(a) shall be deemed to be provided by a contract between the
      Guarantor and each ABN AMRO Indemnified Person who serves in such capacity
      at any time while this Section 11.04(a) is in effect. Any repeal or
      modification of this Section 11.04(a) shall not affect any rights or
      obligations then existing.

            (vii) The Guarantor or the Trust may purchase and maintain insurance
      on behalf of any person who is or was a ABN AMRO Indemnified Person
      against any liability asserted against him and incurred by him in any such
      capacity, or arising out of his status as such, whether or not the
      Guarantor would have the power to indemnify him against such liability
      under the provisions of this Section 11.04(a).

            (viii) For purposes of this Section 11.04(a), references to "the
      Trust" shall include, in addition to the resulting or surviving entity,
      any constituent entity (including any constituent of a constituent)
      absorbed in a consolidation or merger, so that any person who is or was a
      director, trustee, officer or employee of such constituent entity, or is
      or was serving at the request of such constituent entity as a director,
      trustee, officer, employee or agent of another entity, shall stand in the
      same position under the provisions of this Section 11.04(a) with respect
      to the resulting or surviving entity as he would have with respect to such
      constituent entity if its separate existence had continued.

            (ix) The indemnification and advancement of expenses provided by, or
      granted pursuant to, this Section 11.04(a) shall, unless otherwise
      provided when authorized or ratified, continue as to a person who has
      ceased to be a ABN AMRO Indemnified Person and shall inure to the benefit
      of the heirs, executors and administrators of such a person.

      (b) The Guarantor agrees to indemnify the (i) Property Trustee (including
any predecessor Property Trustee), (ii) the Delaware Trustee (including any
predecessor Delaware Trustee), (iii) any Affiliate of the Property Trustee or
the Delaware Trustee, and (iv) any officers, directors, shareholders, members,
partners, employees, representatives, custodians, nominees or agents of the
Property Trustee or the Delaware Trustee (each of the Persons in (i) through
(iv) being referred to as a "Fiduciary Indemnified Person") for, and to hold
each Fiduciary Indemnified Person harmless against, any and all loss, damage,
claim, liability or expense including taxes (other than taxes based on the
income of the Trustee) incurred without negligence or willful misconduct on the
part of the Fiduciary Indemnified Person arising out of or in connection with
the acceptance or administration of the trust or trusts hereunder, including the
costs and expenses (including reasonable legal fees and expenses) of defending
itself against or investigating any claim, action or liability in connection
with the exercise or performance of any of its powers or duties hereunder. The
obligation to indemnify as set forth in this Section 11.04(a)(iv) shall survive
the satisfaction and discharge of this Trust Agreement.

                                       57
<PAGE>

      Section 11.05. Outside Businesses.

      Any Covered Person, the Sponsor, the Guarantor, the Delaware Trustee and
the Property Trustee may engage in or possess an interest in other business
ventures of any nature or description, independently or with others, similar or
dissimilar to the business of the Trust, and the Trust and the Holders of Trust
Securities shall have no rights by virtue of this Trust Agreement in and to such
independent ventures or the income or profits derived therefrom, and the pursuit
of any such venture, even if competitive with the business of the Trust, shall
not be deemed wrongful or improper. No Covered Person, the Sponsor, the
Guarantor, the Delaware Trustee, nor the Property Trustee shall be obligated to
present any particular investment or other opportunity to the Trust even if such
opportunity is of a character that, if presented to the Trust, could be taken by
the Trust, and any Covered Person, the Sponsor, the Delaware Trustee and the
Property Trustee shall have the right to take for its own account (individually
or as a partner or fiduciary) or to recommend to others any such particular
investment or other opportunity. Any Covered Person, the Delaware Trustee and
the Property Trustee may engage or be interested in any financial or other
transaction with the Sponsor or any Affiliate of the Sponsor, or may act as
depositary for, trustee or agent for, or act on any committee or body of Holders
of, securities or other obligations of the Sponsor or its Affiliates.

                                   ARTICLE 12
                                   ACCOUNTING

      Section 12.01. Fiscal Year.

      The fiscal year ("Fiscal Year") of the Trust shall be the calendar year,
or such other year as is required by the Code or the Treasury Regulations.

      Section 12.02. Certain Accounting Matters.

      (a) At all times during the existence of the Trust, the Regular Trustees
shall keep, or cause to be kept, full books of account, records and supporting
documents, which shall reflect in reasonable detail, each transaction of the
Trust. The books of account shall be maintained on the accrual method of
accounting, in accordance with generally accepted accounting principles,
consistently applied. The books of account and the records of the Trust shall be
examined by and reported upon as of the end of each Fiscal Year of the Trust by
a firm of independent certified public accountants selected by the Regular
Trustees.

      (b) Within 60 days after May 15 of each year, the Property Trustee shall
provide to the Holders of the Trust Securities such reports as are required by
Section 313 of the Trust Indenture Act, if any, in the form and in the manner
provided by Section 313 of the Trust Indenture Act. The Property Trustee shall
also comply with the requirements of Section 313(d) of the Trust Indenture Act.

                                       58
<PAGE>

      (c) The Regular Trustees shall cause to be duly prepared and delivered to
each of the Holders, any annual United States federal income tax information
statement required by the Code, containing such information with regard to the
Trust Securities held by each Holder as is required by the Code and the Treasury
Regulations. Notwithstanding any right under the Code to deliver any such
statement at a later date, the Regular Trustees shall use commercially
reasonable efforts to deliver any such statements within 30 days after the end
of each Fiscal Year of the Trust.

      (d) The Regular Trustees shall cause to be duly prepared and timely filed
with the appropriate taxing authority, an annual United States federal income
tax return on Form 1041 or other applicable form or statement under United
States federal income tax law, and any other annual income tax returns required
to be filed by the Regular Trustees on behalf of the Trust with any state or
local taxing authority.

      Section 12.03. Banking.

      The Trust shall maintain one or more bank accounts in the name and for the
sole benefit of the Trust; provided, however, that all payments of funds in
respect of the Company Securities held by the Property Trustee shall be made
directly to the Property Account and no other funds of the Trust shall be
deposited in the Property Account. The sole signatories for such accounts shall
be designated by the Regular Trustees; provided, however, that the Property
Trustee shall designate the signatories for the Property Account.

      Section 12.04. Withholding; Additional Amounts.

      Any and all payments by the Trust in respect of the Trust Securities shall
be made without withholding or deduction for or on account of any present or
future taxes, duties, assessments or governmental charges of whatever nature,
imposed or levied by or on behalf of The Netherlands or, during any period any
Intercompany Security that is not an Initial Intercompany Security is
outstanding, the jurisdiction of residence of any obligor on such Intercompany
Security (each a "Relevant Jurisdiction"), or any authority therein or thereof
having power to tax (collectively, "Relevant Tax"). If the Trust shall be
required by law to deduct such Relevant Tax from or in respect of any sum
payable hereunder the Trust shall pay, as further dividends, such additional
amounts as may be necessary in order that the net amount received by the Holders
after such withholding or deduction will equal the amount which would have been
received in respect of the Trust Securities in the absence of such withholding
or deduction ("Additional Amounts"), except that no such Additional Amounts
shall be payable to a Holder (or to a third party on such Holder's behalf) with
respect to any Trust Securities (i) to the extent that such Relevant Tax is
imposed or levied by virtue of such Holder (or the beneficial owner of such
Trust Securities) having some connection with the Relevant Jurisdiction, other
than being a Holder (or beneficial owner of such Trust Securities), (ii) to the
extent that such the Relevant Tax is imposed or

                                       59
<PAGE>

levied by virtue of such Holder (or beneficial owner) not having made a Trust
Agreement of non-residence in, or other lack of connection with, the Relevant
Jurisdiction or any similar claim for exemption, if the Guarantor or its agent
has provided the beneficial owner of such Trust Securities or its nominee with
at least 60 days' prior written notice of any opportunity to make such a Trust
Agreement or claim, or (iii) where such withholding or deduction is imposed on a
payment to an individual and is required to be made pursuant to any European
Union Directive on the taxation of savings implementing the conclusions of the
ECOFIN Council meeting of 26-27 November 2000 or any law implementing or
complying with, or introduced in order to conform to, [or substantially similar
to] such Directive.

                                   ARTICLE 13
                             AMENDMENTS AND MEETINGS

      Section 13.01. Amendments.

      (a) Except as otherwise provided in this Trust Agreement or by any
applicable terms of the Trust Securities, this Trust Agreement may only be
amended by a written instrument approved and executed by the Regular Trustees
(or, if there are more than two Regular Trustees a majority of the Regular
Trustees), and, in certain circumstances, the Property Trustee and the Delaware
Trustee;

      (b) No amendment shall be made, and any such purported amendment shall be
void and ineffective:

            (i) unless, in the case of any proposed amendment, the Property
      Trustee and the Delaware Trustee shall have first received an Officers'
      Certificate from each of the Trust and the Sponsor that such amendment is
      permitted by, and conforms to, the terms of this Trust Agreement
      (including the terms of the Trust Securities);

            (ii) unless, in the case of any proposed amendment which affects the
      rights, powers, duties, obligations or immunities of the Property Trustee
      or the Delaware Trustee, the Property Trustee or the Delaware Trustee, as
      the case may be, shall have first received an opinion of counsel (who may
      be counsel to the Sponsor or the Trust) that such amendment is permitted
      by, and conforms to, the terms of this Trust Agreement (including the
      terms of the Trust Securities); or

            (iii) to the extent the result of such amendment would be to:

                  (A) cause the Trust to fail to be classified for purposes of
            United States federal income taxation as a grantor trust;

                                       60
<PAGE>

                  (B) if the Company is a Capital Funding LLC, cause the Company
            to be classified for purposes of United States federal income tax as
            an association or a publicly traded partnership taxable as a
            corporation;

                  (C) reduce or otherwise adversely affect the powers of the
            Property Trustee in contravention of the Trust Indenture Act;

                  (D) cause the Trust or the Company to be required to register
            under the 1940 Act; or

                  (E) permit the Contingent Distribution to be made to anyone
            other than the Holders in accordance with Section 7.01(a).

      (c) In the event the consent of the Property Trustee, as the record holder
of the Company Securities, is required under the Company Securities Rights
Agreement with respect to any amendment, modification or termination of the
Company Securities Rights Agreement or the Company Securities, or under either
of the Guarantees with respect to any amendment, modification or termination of
such Guarantee, the Property Trustee shall request the direction of the Holders
with respect to such amendment, modification or termination and shall vote with
respect to such amendment, modification or termination as directed by a Majority
in liquidation amount of the Trust Securities voting together as a single class;
provided, however, that where a consent under the Company Securities Rights
Agreement or the Company Securities Guarantee would require the consent of a
Super Majority of the record holders of Company Securities, the Property Trustee
may only give such consent at the direction of the Holders of at least the
proportion in liquidation amount of the Trust Securities which the relevant
Super Majority represents of the aggregate liquidation amount of the Company
Securities outstanding; provided, further, that the Property Trustee shall not
be obligated to take any action in accordance with the directions of the Holders
under this Section 13.01(c) unless the Property Trustee has been provided with
an opinion of independent tax counsel to the effect that as a result of such
action, the Trust will not fail to be classified as a grantor trust for United
States federal income tax purposes;

      (d) At such time after the Trust has issued any Trust Securities that
remain outstanding, any amendment that would (i) materially adversely affect the
powers, preferences or special rights of the Trust Securities whether by way of
amendment to this Trust Agreement or otherwise or (ii) provide for the
dissolution, winding up or termination of the Trust other than pursuant to the
terms of this Trust Agreement, may be effected only with the approval of the
Holders of at least a Majority in liquidation amount of the Trust Securities
affected thereby; provided, that if any amendment or proposal referred to in
clause (i) hereof would adversely affect only the Trust Preferred Securities or
the Trust Common Securities, then only the affected class will be entitled to
vote on such amendment or proposal and such amendment or proposal shall not be

                                       61
<PAGE>

effective except with the approval of a Majority in liquidation amount of such
class of Trust Securities;

      (e) Article 7, Section 11.01(c) and this Section 13.01 shall not be
amended without the consent of all of the Holders;

      (f) Article 5 shall not be amended without the consent of the Holders of a
Majority in liquidation amount of the Trust Common Securities;

      (g) The rights of the Holders of the Trust Common Securities under Article
6 to increase or decrease the number of, and appoint and remove Trustees shall
not be amended without the consent of the Holders of a Majority in liquidation
amount of the Trust Common Securities; and

      (h) Notwithstanding Section 13.01(c), this Trust Agreement may be amended
without the consent of the Holders:

            (i) to cure any ambiguity;

            (ii) to correct or supplement any provision in this Trust Agreement
      that may be defective or inconsistent with any other provision of this
      Trust Agreement;

            (iii) to add to the covenants, restrictions or obligations of the
      Guarantor or the Common Securities Holder;

            (iv) to conform to any change in the 1940 Act or written change in
      interpretation or application of the rules and regulations promulgated
      thereunder by any legislative body, court, government agency or regulatory
      authority;

            (v) to conform to any change in the Trust Indenture Act or written
      change in interpretation or application of the rules and regulations
      promulgated thereunder by any legislative body, court, government agency
      or regulatory authority; or

            (vi) to modify, eliminate or add to any provision of this Trust
      Agreement to such extent as may be necessary or desirable;

provided that such amendments do not have a material adverse effect on the
rights, preferences or privileges of the Holders.

      Section 13.02. Meetings of the Holders of Trust Securities; Action by
Written Consent.

      (a) Meetings of the Holders of any class of Trust Securities may be called
at any time by the Regular Trustees (or as provided in the terms of the Trust
Securities) to consider and act on any matter on which Holders of such class

                                       62
<PAGE>

of Trust Securities are entitled to act under the terms of this Trust Agreement,
the terms of the Trust Securities, the Company Securities Rights Agreement, the
rules of any stock exchange on which the Trust Preferred Securities are listed
or admitted for trading, the Statutory Trust Act or other applicable law. The
Regular Trustees shall call a meeting of the Holders of such class if directed
to do so by the Holders of at least 10% in liquidation amount of such class of
Trust Securities. Such direction shall be given by delivering to the Regular
Trustees one or more requests in a writing stating that the signing Holders wish
to call a meeting and indicating the general or specific purpose for which the
meeting is to be called. Any Holders calling a meeting shall specify in writing
the Certificates held by the Holders exercising the right to call a meeting and
only those Trust Securities specified shall be counted for purposes of
determining whether the required percentage set forth in the second sentence of
this paragraph has been met.

      (b) Except to the extent otherwise provided in the terms of the Trust
Securities, the following provisions shall apply to meetings of Holders:

            (i) notice of any such meeting shall be given to all the Holders
      having a right to vote thereat at least 7 days and not more than 60 days
      before the date of such meeting. Any action that may be taken at a meeting
      of the Holders may be taken without a meeting if a consent in writing
      setting forth the action so taken is signed by the Holders owning not less
      than the minimum amount of Trust Securities in liquidation amount that
      would be necessary to authorize or take such action at a meeting at which
      all Holders having a right to vote thereon were present and voting. Prompt
      notice of the taking of action without a meeting shall be given to the
      Holders entitled to vote who have not consented in writing. The Regular
      Trustees may specify that any written ballot submitted to the Holders for
      the purpose of taking any action without a meeting shall be returned to
      the Trust within the time specified by the Regular Trustees;

            (ii) each Holder may authorize any Person to act for it by proxy on
      all matters in which a Holder is entitled to participate, including
      waiving notice of any meeting, or voting or participating at a meeting. No
      proxy shall be valid after the expiration of 11 months from the date
      thereof unless otherwise provided in the proxy. Every proxy shall be
      revocable at the pleasure of the Holder executing it. Except as otherwise
      provided herein, all matters relating to the giving, voting or validity of
      proxies shall be governed by the General Corporation Law of the State of
      Delaware relating to proxies, and judicial interpretations thereunder, as
      if the Trust were a Delaware corporation and the Holders were shareholders
      of a Delaware corporation;

            (iii) each meeting of the Holders shall be conducted by the Regular
      Trustees or by such other Person as the Regular Trustees may designate;
      and

                                       63
<PAGE>

            (iv) unless the Statutory Trust Act, this Trust Agreement, the terms
      of the Trust Securities, the Trust Indenture Act or the listing rules of
      any stock exchange on which the Trust Preferred Securities are then listed
      for trading, otherwise provide, the Regular Trustees, in their sole
      discretion, shall establish all other provisions relating to meetings of
      Holders, including notice of the time, place or purpose of any meeting at
      which any matter is to be voted on by any Holders, waiver of any such
      notice, action by consent without a meeting, the establishment of a record
      date, quorum requirements, voting in person or by proxy or any other
      matter with respect to the exercise of any such right to vote.

                                   ARTICLE 14
            REPRESENTATIONS OF PROPERTY TRUSTEE AND DELAWARE TRUSTEE

      Section 14.01. Representations and Warranties of Property Trustee.

      The Trustee that acts as initial Property Trustee represents and warrants
to the Trust and to the Sponsor at the date of this Trust Agreement, and each
Successor Property Trustee represents and warrants to the Trust and the Sponsor
at the time of the Successor Property Trustee's acceptance of its appointment as
Property Trustee that:

      (a) The Property Trustee is a corporation with trust powers, duly
organized, validly existing and in good standing under the laws of [state of
incorporation], with trust power and authority to execute and deliver, and to
carry out and perform its obligations under the terms of, the Trust Agreement;

      (b) The execution, delivery and performance by the Property Trustee of the
Trust Agreement has been duly authorized by all necessary corporate action on
the part of the Property Trustee. The Trust Agreement has been duly executed and
delivered by the Property Trustee;

      (c) The execution, delivery and performance of the Trust Agreement by the
Property Trustee does not conflict with or constitute a breach of the Articles
of Incorporation or By-laws of the Property Trustee;

      (d) The Property Trustee, pursuant to this Trust Agreement, shall hold
legal title to, and a valid ownership interest on behalf of the Holders of the
Trust Securities, in the Company Securities and agrees that, except as expressly
provided or contemplated by this Agreement, it will not create, incur, assume,
or suffer to exist any mortgage, pledge, hypothecation, encumbrance, lien or
other charge or security interest upon the Company Securities.

      Section 14.02. Representations and Warranties of Delaware Trustee.

                                       64
<PAGE>

      The Trustee that acts as initial Delaware Trustee represents and warrants
to the Trust and to the Sponsor at the date of this Trust Agreement, and each
Successor Delaware Trustee represents and warrants to the Trust and the Sponsor
at the time of the Successor Delaware Trustee's acceptance of its appointment as
Delaware Trustee that:

      (a) The Delaware Trustee is a Delaware corporation duly organized, validly
existing and in good standing under the laws of the State of Delaware, with
power and authority to execute and deliver, and to carry out and perform its
obligations under the terms of, the Trust Agreement;

      (b) The Delaware Trustee has been authorized to perform its obligations
under the Certificate of Trust and the Trust Agreement.

      (c) The Delaware Trustee is an entity which has its principal place of
business in the State of Delaware.

                                   ARTICLE 15
                                  MISCELLANEOUS

      Section 15.01. Notices.

      All notices provided for in this Trust Agreement shall be in writing, duly
signed by the party giving such notice, and shall be delivered, telecopied or
mailed by registered or certified mail, as follows:

      (a) If given to the Trust, in care of the Regular Trustees at the Trust's
mailing address set forth below (or such other address as the Trust may give
notice of to the Holders of the Trust Securities):

            ABN AMRO Capital Funding Trust [ ]
            c/o [Trust Common Securities Owner]
            135 South LaSalle Street
            Chicago, Illinois

            Facsimile No.:  [__________]
            Attention: [NAME]

      (b) If given to the Delaware Trustee, at the mailing address set forth
below (or such other address as the Delaware Trustee may give notice of to the
other Trustees):

      [ADDRESS]

                                       65
<PAGE>

      (c) If given to the Property Trustee, at the mailing address set forth
below (or such other address as the Property Trustee may give notice of to the
Holders of the Trust Securities and the other Trustees):

      [ADDRESS]

      (d) If given to the Holders of the Trust Common Securities, at the mailing
address of the [Trust Common Securities Owner] set forth below (or such other
address as the Holder of the Trust Common Securities may give notice of to the
Trust):

      [ADDRESS]

      (e) if given to any other Holder, at the address set forth on the books
and records of the Trust.

      All such notices shall be deemed to have been given when received in
person, telecopied with receipt confirmed, or mailed by first class mail,
postage prepaid, except that if a notice or other document is refused delivery
or cannot be delivered because of a changed address of which no notice was
given, such notice or other document shall be deemed to have been delivered on
the date of such refusal or inability to deliver.

      Section 15.02. Governing Law.

      This Trust Agreement and the rights of the parties hereunder shall be
governed by and construed in accordance with the internal laws of the State of
Delaware and all rights and remedies shall be governed by such laws without
regard to principles of conflict of laws.

      Section 15.03. Intention of the Parties.

      It is the intention of the parties hereto that the Trust be classified for
United States federal income tax purposes as a grantor trust. The provisions of
this Trust Agreement shall be interpreted to further this intention of the
parties.

      Section 15.04. Headings.

      Headings contained in this Trust Agreement are inserted for convenience of
reference only and do not affect the interpretation of this Trust Agreement or
any provision hereof.

      Section 15.05. Successors and Assigns.

      Whenever in this Trust Agreement any of the parties hereto is named or
referred to, the successors and assigns of such party shall be deemed to be
included, and all covenants and agreements in this Trust Agreement by the

                                       66
<PAGE>

Sponsor, the Guarantor and the Trustees shall bind and inure to the benefit of
their respective successors and assigns, whether so expressed.

      Section 15.06. Partial Enforceability.

      If any provision of this Trust Agreement, or the application of such
provision to any Person or circumstance, shall be held invalid, the remainder of
this Trust Agreement, or the application of such provision to persons or
circumstances other than those to which it is held invalid, shall not be
affected thereby.

      Section 15.07. Counterparts.

      This Trust Agreement may contain more than one counterpart of the
signature page and this Trust Agreement may be executed by the affixing of the
signature of each of the Trustees and a duly authorized officer of the Sponsor
and the Guarantor to one of such counterpart signature pages. All of such
counterpart signature pages shall be read as though one, and they shall have the
same force and effect as though all of the signers had signed a single signature
page.

                                       67
<PAGE>

      IN WITNESS WHEREOF, each of the undersigned has caused these presents to
be executed as of the day and year first above written.

                                    Regular Trustees

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

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

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

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

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

                                    [__], as Delaware Trustee

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

                                    [__], as Property Trustee

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

                                    [LaSalle Funding LLC, as Sponsor]

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

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

<PAGE>

                                    ABN AMRO CAPITAL FUNDING LLC [ ],
                                       as [Depositor]

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

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

<PAGE>

                                    Consented to by:

                                    [ABN AMRO HOLDING N.V./ABN AMRO
                                       BANK N.V.] as Guarantor

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

<PAGE>

                                                                     EXHIBIT A-1

              FORM OF PREFERRED SECURITY CERTIFICATE

      This Trust Preferred Security is a Global Certificate within the meaning
of the Trust Agreement hereinafter referred to and is registered in the name of
The Depository Trust Company ("DTC") or a nominee of DTC. This Trust Preferred
Security is exchangeable for Trust Preferred Securities registered in the name
of a person other than DTC or its nominee only in the limited circumstances
described in the Trust Agreement and no transfer of this Trust Preferred
Security (other than a transfer of this Trust Preferred Security as a whole by
DTC to a nominee of DTC or by a nominee of DTC to DTC or another nominee of DTC)
may be registered except in limited circumstances.

      Unless this Trust Preferred Security is presented by an authorized
representative of DTC (55 Water Street, New York, New York), a New York
corporation, to the Trust or its agent for registration of transfer, exchange or
payment, and any Trust Preferred Security issued is registered in the name of
Cede & Co. or such other name as requested by an authorized representative of
DTC (and any payment hereon is made to Cede & Co. or 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.

<PAGE>

CUSIP No. ____________
Certificate No.

                Certificate Evidencing Trust Preferred Securities

                                       of

                       ABN AMRO CAPITAL FUNDING TRUST [ ]

             [__] Noncumulative Guaranteed Trust Preferred Securities
         (liquidation preference U.S. $[__] per Trust Preferred Security)

            Guaranteed by [ABN AMRO Holding N.V.][ABN AMRO Bank N.V.]

      ABN AMRO CAPITAL FUNDING TRUST [__], a statutory trust formed under the
laws of the State of Delaware (the "Trust"), hereby certifies that Cede & Co.
(the "Holder") is the registered owner of [__] preferred securities of the Trust
representing undivided beneficial ownership interests in the assets of the Trust
designated the [__] Noncumulative Guaranteed Trust Preferred Securities
(liquidation amount $[__] per Trust Preferred Security) (the "Trust Preferred
Securities"). The Trust Preferred Securities are freely transferable on the
books and records of the Trust, in person or by a duly authorized attorney, upon
surrender of this certificate duly endorsed and in proper form for transfer. The
designation, rights, powers, privileges, restrictions, preferences and other
terms and provisions of the Trust Preferred Securities represented hereby are
set forth in, issued under and shall in all respects be subject to the
provisions of the Amended and Restated Trust Agreement dated as of [__], as the
same may be amended from time to time (the "Trust Agreement"). Capitalized terms
used herein but not defined shall have the meaning given them in the Trust
Agreement. By accepting this certificate, the Holder hereby accepts the rights
under the Trust Securities Guarantee with respect to this Trust Preferred
Security, including the rights under Article 6:253 of the Dutch Civil Code,
which rights shall be transferred by operation of law under Article 6:251 of the
Dutch Civil Code to any subsequent Holder of this Trust Preferred Security. The
Holder is entitled to the benefits of the Trust Securities Guarantee to the
extent provided in such Guarantee. The Sponsor will provide a copy of the Trust
Agreement, the Trust Securities Guarantee and the Company Securities Rights
Agreement to a Holder without charge upon written request to the Trust at its
principal place of business.

      THE TRUST PREFERRED SECURITIES ARE TRANSFERABLE ON THE BOOKS AND RECORDS
OF THE TRUST ONLY IN ACCORDANCE WITH THE TERMS OF THE DECLARATION.

      Upon receipt of this certificate, the Holder is bound by the Trust
Agreement and the Trust Securities Guarantee and is entitled to the benefits
thereunder.

<PAGE>

      IN WITNESS WHEREOF, the Trust has executed this certificate this __ day of
___.

                                    ABN AMRO CAPITAL FUNDING TRUST [__]

                                   By:  [_____],
                                        as Regular Trustee

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

                                    Guaranteed to the extent set forth
                                    in the Trust Securities Guarantee
                                    dated [__].

                                    [ABN AMRO HOLDING N.V.][ABN AMRO
                                       BANK N.V.]

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

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

Authenticated by:

[__],
as Property Trustee

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

                       (See reverse for additional terms)

<PAGE>

                               REVERSE OF SECURITY

      Holders of Trust Preferred Securities shall be entitled to receive cash
distributions at a rate per annum of [__] of the stated liquidation preference
of $[__] per Trust Preferred Security. Dividends on the Trust Preferred
Securities will accumulate from the date of initial issuance or the last
Dividend Date (whichever is later) and will be payable [quarterly in arrears,
on [__], [__],[__] and [__]] of each year, commencing on [__] if, as and when
funds available for payment are held by the Property Trustee in the Property
Account. Dividends on the Trust Preferred Securities will not be cumulative. If
the Trust Preferred Securities are in the form of a Global Certificate, the
record date for payment of Dividends will be one Business Day prior to the
relevant Dividend Date. If the Trust Preferred Securities are in the form of
Definitive Trust Preferred Security Certificates, the record date for payment
of Dividends shall be the 15th day of the month in which the relevant Dividend
Date falls. In the event that any Dividend Date is not a Business Day, payment
of such Dividends shall be made on the next succeeding day which is a Business
Day (without any interest or other payment in respect of any such delay) except
that, if such Business Day falls in the next succeeding calendar year, such
payment shall be made on the immediately preceding Business Day (without any
reduction of interest or other payments in respect of such early payment). The
amount of Dividends payable for any Dividend Period will be computed on the
basis of a 360-day year of twelve 30-day months, and for any Dividend Period
shorter than a three month period, on the basis of the actual number of days
elapsed. Amounts available to the Trust for Dividends to the holders of the
Trust Preferred Securities will be limited to payments received by the Trust
from the Company on the Company Securities (which payments shall include, but
not be limited to, Dividends made on the Company Securities pursuant to the
Company Securities Guarantee and the LLC Contingent Distribution, if
applicable) or from the Guarantor pursuant to the Trust Securities Guarantee
paid by the Guarantor to the Trust. Dividends on the Company Preferred
Securities will be paid only if, as and when declared in the sole discretion of
the Company or deemed declared under the Guarantees.

      Upon a purchase of the Company Securities by the Company upon redemption
or otherwise, the proceeds from such purchase shall be simultaneously applied
Pro Rata to redeem Trust Securities having an aggregate liquidation amount equal
to the Company Securities so purchased or redeemed for an amount equal to $[__]
per Trust Security plus an amount equal to accumulated and unpaid Dividends or
such lesser amount as shall be received by the Trust in respect of the Company
Securities so purchased or redeemed as calculated by the Regular Trustees.
Holders will be given not less than 30 nor more than 60 days notice of such
redemption.

      If fewer than all the outstanding Trust Securities are to be so redeemed,
the Trust Common Securities and the Trust Preferred Securities will be redeemed
Pro Rata.

      If, at any time, a Trust Special Event shall occur and be continuing, the
Regular Trustees shall, within 90 days following the occurrence of such Trust
Special Event, elect to either (i) dissolve the Trust upon not less than 30 nor
more than 60 days' notice to the Holders and upon not less than 30 nor more than
60 days' notice to Euroclear and Cedel, after providing Euroclear and Cedel with
such information relating to such dissolution and the Company Securities, as
reasonably requested by either of them, with the result that, after satisfaction
of creditors, if any, of the Trust, Company Securities with an aggregate stated
liquidation amount equal to the aggregate stated liquidation amount of, with a
Dividend rate identical to the Dividend rate of, and accumulated and unpaid
Dividends equal to accumulated and unpaid Dividends on, and having the same
record date for payment as, the Trust Preferred Securities and the Trust Common
Securities outstanding at such time would be distributed on a Pro Rata basis to
the Holders of the Trust Preferred Securities and the Trust Common Securities in
liquidation of such Holders' interests in the Trust; provided, however, that, if
at the time there is available to the Trust the opportunity to eliminate, within
such 90-day period, the Trust Special Event by taking some Ministerial Action,
such as filing a form or making an election, or pursuing some other similar
reasonable measure which in the sole judgment of the Guarantor has or will cause
no adverse effect on the Trust, the Company, the Guarantor, the Common
Securities Holder or the Holders or beneficial owners of the Trust Securities
and will involve no material cost, the Trust will pursue such measure in lieu of
dissolution or (ii) cause the Trust Preferred Securities to remain outstanding,
provided that in the case of this clause (ii), the Guarantor shall pay any and
all expenses incurred by or payable by the Trust attributable to the Trust
Special Event.

      This Trust Preferred Security and all rights hereunder and provisions
hereof shall be governed by and construed in accordance with the internal laws
of the State of Delaware without regard to principles of conflict of laws.

<PAGE>

                               ASSIGNMENT

      FOR VALUE RECEIVED, the undersigned assigns and transfers this Trust
Preferred Security Certificate to:

          -------------------------------------------------------------

          -------------------------------------------------------------

          -------------------------------------------------------------
        (Insert assignee's social security or tax identification number)

          -------------------------------------------------------------

          -------------------------------------------------------------

          -------------------------------------------------------------
                    (Insert address and zip code of assignee)

and irrevocably appoints

          -------------------------------------------------------------

          -------------------------------------------------------------

          -------------------------------------------------------------

agent to transfer this Trust Preferred Security Certificate on the books of the
Trust. The agent may substitute another to act for him or her.

          Date:____________________________

          Signature:_______________________

      (Sign exactly as your name appears on the other side of this Trust
Preferred Security Certificate)

<PAGE>

                                                                     EXHIBIT A-2

THIS TRUST COMMON SECURITY IS NOT TRANSFERABLE EXCEPT TO ABN AMRO HOLDING N.V.,
ABN AMRO BANK N.V. (THE "BANK"), [LASALLE FUNDING LLC], OR ONE OR MORE OF ANY OF
THEIR SUBSIDIARIES WHICH ARE DEEMED TO BE "A COMPANY CONTROLLED BY THE PARENT
COMPANY" UNDER RULE 3a-5, AS AMENDED, OF THE INVESTMENT COMPANY ACT OF 1940, AS
AMENDED.

                    FORM OF TRUST COMMON SECURITY CERTIFICATE

CS-1

                 Certificate Evidencing Trust Common Securities

                                       of

                       ABN AMRO CAPITAL FUNDING TRUST [ ]

                           [__] Trust Common Securities
          (liquidation preference U.S. $[__] per Trust Common Security)

      ABN AMRO CAPITAL FUNDING TRUST [ ], a statutory trust formed under the
laws of the State of Delaware (the "Trust"), hereby certifies that [the Trust
Common Security Owner] (the "Holder") is the registered owner of [NUMBER] common
securities of the Trust representing undivided beneficial ownership interests in
the assets of the Trust designated the [__] Trust Common Securities (liquidation
amount $[__] per Trust Common Security) (the "Trust Common Securities"). The
designation, rights, powers, privileges, restrictions, preferences and other
terms and provisions of the Trust Common Securities represented hereby are set
forth in, issued under and shall in all respects be subject to the provisions of
the Amended and Restated Trust Agreement dated as of [__], as the same may be
amended from time to time (the "Trust Agreement"). Capitalized terms used herein
but not defined shall have the meaning given them in the Trust Agreement. The
Holder is entitled to the benefits of the Trust Securities Guarantee and the
Contingent Guarantee to the extent provided in each such Guarantee.

<PAGE>

      IN WITNESS WHEREOF, the Trust has executed this certificate this __ day of
___.

                                    ABN AMRO CAPITAL FUNDING TRUST [ ]

                                    By: [_______],
                                        as Regular Trustee

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

                                    Guaranteed to the extent set forth
                                    in the Trust Securities Guarantee
                                    dated [__].

                                    [ABN AMRO HOLDING N.V.][ABN AMRO
                                       BANK N.V.]

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

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

Acknowledged by:

[__],
as Property Trustee

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

<PAGE>

                               ASSIGNMENT

      FOR VALUE RECEIVED, the undersigned assigns and transfers this Trust
Preferred Security Certificate to:

          -------------------------------------------------------------

          -------------------------------------------------------------

          -------------------------------------------------------------
        (Insert assignee's social security or tax identification number)

          -------------------------------------------------------------

          -------------------------------------------------------------

          -------------------------------------------------------------
                    (Insert address and zip code of assignee)

and irrevocably appoints

          -------------------------------------------------------------

          -------------------------------------------------------------

          -------------------------------------------------------------

agent to transfer this Trust Preferred Security Certificate on the books of the
Trust. The agent may substitute another to act for him or her.

          Date:____________________________

          Signature:_______________________

      (Sign exactly as your name appears on the other side of this Trust
Preferred Security Certificate)EXHIBIT 4.20

================================================================================

                              AMENDED AND RESTATED
                       LIMITED LIABILITY COMPANY AGREEMENT

                                       of

                      ABN AMRO CAPITAL FUNDING LLC [___ ]

                         Dated as of ____________, ___

================================================================================

<PAGE>

                                TABLE OF CONTENTS

                                 ---------------

                                                                            PAGE
                                                                            ----

                                    ARTICLE 1
                                  DEFINED TERMS

Section 1.01.  Definitions.....................................................1
Section 1.02.  Headings........................................................9

                                    ARTICLE 2
                               TRUST INDENTURE ACT

Section 2.01.  Trust Indenture Act; Application................................9
Section 2.02.  Lists of Holders of Securities.................................10
Section 2.03.  Reports by the Manager Trustee.................................10
Section 2.04.  Periodic Reports to Manager Trustee............................10
Section 2.05.  Evidence of Compliance with Conditions Precedent...............10
Section 2.06.  Events of Default; Waiver......................................11
Section 2.07.  Event of Default; Notice.......................................11
Section 2.08.  Rights of Holders..............................................11

                                    ARTICLE 3
                  POWERS, DUTIES AND RIGHTS OF MANAGER TRUSTEE

Section 3.01.  Powers, Duties and Rights of Manager Trustee...................12
Section 3.02.  Certain Rights of Manager Trustee..............................14
Section 3.03.  Not Responsible for Recitals or Issuance of Agreement..........16

                                    ARTICLE 4
                                 MANAGER TRUSTEE

Section 4.01.  Manager Trustee; Eligibility...................................16
Section 4.02.  Appointment, Removal and Resignation of Manager Trustee........17
Section 4.03.  Indemnification and Expenses of the Manager Trustee............17

                                    ARTICLE 5
               CONTINUATION AND TERM; ADMISSION OF SECURITYHOLDERS

Section 5.01.  Continuation...................................................18
Section 5.02.  Admission of Securityholders...................................18
Section 5.03.  Name...........................................................18
Section 5.04.  Term...........................................................18
Section 5.05.  Registered Agent and Office....................................18
Section 5.06.  Principal Place of Business....................................19
Section 5.07.  Qualification in Other Jurisdictions...........................19

                                       i
<PAGE>

                                    ARTICLE 6
                   PURPOSE AND POWERS OF THE COMPANY; BY-LAWS

Section 6.01.  Purposes and Powers............................................19
Section 6.02.  By-Laws........................................................20

                                    ARTICLE 7
                CAPITAL CONTRIBUTIONS; ALLOCATIONS AND SECURITIES

Section 7.01.  Form of Contribution...........................................20
Section 7.02.  Contributions with Respect to the Common Securityholder........20
Section 7.03.  Contributions with Respect to the Preferred Securityholders....20
Section 7.04.  Allocation of Profits and Losses...............................20
Section 7.05.  Withholding....................................................21
Section 7.06.  Securities as Personal Property................................22

                                    ARTICLE 8
                                 SECURITYHOLDERS

Section 8.01.  Powers of Securityholders......................................22
Section 8.02.  Partition......................................................22
Section 8.03.  Resignation....................................................22
Section 8.04.  Liability of Securityholders...................................22

                                    ARTICLE 9
                                   MANAGEMENT

Section 9.01.  Management of the Company......................................23
Section 9.02.  Limits on Board of Directors' Powers...........................26
Section 9.03.  Reliance by Third Parties......................................27
Section 9.04.  No Management by Any Preferred Securityholders.................27
Section 9.05.  Business Transactions of the Common Securityholder
               with the Company...............................................27
Section 9.06.  Outside Businesses.............................................27
Section 9.07.  Duties of the Guarantee Independent Director and
               Independent Directors..........................................28

                                   ARTICLE 10
                   COMMON SECURITIES AND PREFERRED SECURITIES

Section 10.01.  Common Securities and Preferred Securities....................28
Section 10.02.  General Provisions Regarding Preferred Securities.............29
Section 10.03.  Class A Preferred Securities..................................29
Section 10.04.  [Class B] Preferred Securities................................30

                                       ii
<PAGE>

                                   ARTICLE 11
                               VOTING AND MEETINGS

Section 11.01.  Voting Rights of Preferred Securityholders....................38
Section 11.02.  Voting Rights of Common Securityholders.......................39
Section 11.03.  Meetings of the Securityholders...............................39

                                   ARTICLE 12
                                    DIVIDENDS

Section 12.01.  Dividends.....................................................40
Section 12.02.  Limitations on Distributions..................................41

                                   ARTICLE 13
                               BOARDS AND RECORDS

Section 13.01.  Financial Statements..........................................41
Section 13.02.  Limitation on Access to Records...............................41
Section 13.03.  Accounting Method.............................................41
Section 13.04.  Annual Audit..................................................41

                                   ARTICLE 14
                                   TAX MATTERS

Section 14.01.  Company Tax Returns...........................................42
Section 14.02.  Tax Reports...................................................42
Section 14.03.  Taxation as a Partnership.....................................42
Section 14.04.  Taxation of Securityholders...................................42

                                   ARTICLE 15
                                    EXPENSES

Section 15.01.  Expenses......................................................42

                                   ARTICLE 16
         TRANSFERS OF SECURITIES BY SECURITYHOLDERS AND RELATED MATTERS

Section 16.01.  Right of Assignee to Become a [Class B] Preferred
                Securityholder................................................43
Section 16.02.  Events of Cessation of Security Ownership.....................43
Section 16.03.  Persons Deemed [Class B] Preferred Securityholders............43
Section 16.04.  The [Class B] Preferred Certificates..........................44
Section 16.05.  Transfer of [Class B] Preferred Certificates..................44
Section 16.06.  Mutilated, Destroyed, Lost or Stolen [Class B]
                Preferred Certificates........................................46
Section 16.07.  Book-entry Provisions.........................................46

                                      iii
<PAGE>

Section 16.08.  Transfer of Class A Preferred Securities and
                Common Securities.............................................48

                                   ARTICLE 17
           MERGERS, CONSOLIDATIONS AND SALES; INTERCOMPANY SECURITIES

Section 17.01.  The Company...................................................49
Section 17.02.  Intercompany Securities.......................................50

                                   ARTICLE 18
                    DISSOLUTION, LIQUIDATION AND TERMINATION

Section 18.01.  No Dissolution................................................50
Section 18.02.  Events Causing Dissolution....................................50
Section 18.03.  Notice of Dissolution.........................................51
Section 18.04.  Liquidation...................................................51
Section 18.05.  Termination...................................................52

                                   ARTICLE 19
                                  MISCELLANEOUS

Section 19.01.  Amendments....................................................52
Section 19.02.  Amendment of Certificate......................................52
Section 19.03.  Successors....................................................52
Section 19.04.  Law; Severability.............................................52
Section 19.05.  Filings.......................................................53
Section 19.06.  Power of Attorney.............................................53
Section 19.07.  Exculpation...................................................54
Section 19.08.  Indemnification...............................................54
Section 19.09.  Notices.......................................................54

ANNEX A - By-Laws of Capital Funding LLC [ ]
ANNEX B - List of Initial Directors and Officers
ANNEX C - Form of Certificate Evidencing Class A Preferred Securities
ANNEX D - Form of Certificate Evidencing [Class B] Preferred Securities

                                       iv
<PAGE>

                            CROSS-REFERENCE TABLE(1)

         Section of Trust Indenture Act            Section of
              of 1939, as amended                   Agreement

310(a)................................................4.01(a)
310(b)..........................................2.09, 4.01(c)
310(c)...........................................Inapplicable
311(a)................................................2.02(b)
311(b)................................................2.02(b)
311(c)...........................................Inapplicable
312(a)................................................2.02(a)
312(b)................................................2.02(b)
313......................................................2.03
314(a)...................................................2.04
314(b)...........................................Inapplicable
314(c)...................................................2.05
314(d)...........................................Inapplicable
314(f)...........................................Inapplicable
315(a)........................................3.01(c), 301(d)
315(b)...................................................2.07
315(c)................................................3.01(c)
315(d)................................................3.01(d)
316(a)...................................................2.08

----------
      (1) This Cross-Reference Table does not constitute part of the Agreement
and shall not affect the interpretation of any of its terms or provisions.

                                       vi
<PAGE>

      THIS AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT of ABN AMRO
CAPITAL FUNDING LLC [__] (the "Company") is made as of [__], among the Initial
Common Securityholder (as defined herein), [the Class A Preferred
Securityholder], the Initial Purchaser (as defined below) and [__], as Manager
Trustee (as defined below) for the benefit of the Persons (as defined below) who
may become [Class B] Preferred Securityholders of the Company from time to time
in accordance with the provisions hereof.

      WHEREAS, ABN AMRO North America Holding Company as the organizing member
has formed a limited liability company pursuant to the Delaware Limited
Liability Company Act, 6 Del.C. ss. 18-101, et seq., as amended from time to
time (the "Delaware Act"), by causing the filing of a Certificate of Formation
of the Company with the office of the Secretary of State of the State of
Delaware on March 28, 2003, and has entered into the Limited Liability Company
Agreement of the Company dated as of March 28, 2003 (the "Original Agreement");
and

      WHEREAS, the Securityholders desire to amend and restate the Original
Agreement as provided in this Amended and Restated Limited Liability Company
Agreement of the Company (as amended, modified or supplemented from time to time
in accordance with its terms, this "Agreement") and to continue the Company as a
limited liability company under the Delaware Act in accordance with the
provisions of this Agreement;

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

                                    ARTICLE 1
                                  DEFINED TERMS

      Section 1.01. Definitions. Unless otherwise set forth in a supplement, a
schedule or an amendment hereto, or unless the context otherwise requires, the
terms defined in this Article 1 shall, for the purposes of this Agreement, have
the meanings herein specified.

<PAGE>

      "Additional Amounts" has the meaning specified in Section 10.04(c).

      "Administrative Action" means any judicial decision, official
administrative pronouncement, published or private ruling, regulatory procedure,
notice or announcement (including any notice or announcement of intent to adopt
such procedures or regulations).

      "Administrator" has the meaning specified in Section 16.05(b).

      "Affiliate" means, with respect to a specified Person, any Person directly
or indirectly controlling, controlled by, or under common control with the
specified Person.

      "Agreement" has the meaning specified in the second Recital hereof.

      "authorized person" has the meaning specified in Section 5.01(b).

      "Bank" means ABN AMRO Bank N.V.

      "Board of Directors" means the Board of Directors of the Company as
constituted in accordance with the provisions of this Agreement and of the
By-Laws.

      "Book-Entry Interest" means a beneficial interest in the [Class B]
Preferred Certificates, ownership and transfers of which shall be maintained and
made through book-entries of a clearing agency as set forth in Section 16.07 of
this Agreement.

      "Business Day" means a day other than a Saturday, a Sunday or a day on
which banking institutions in The City of New York, London, Amsterdam and
Luxembourg are authorized or required by law to remain closed.

      "By-Laws" means the By-Laws of the Company in the form of Annex A hereto,
as they may be amended from time to time by the Board of Directors of the
Company in accordance with the provisions of this Agreement (which By-Laws are,
for all purposes of this Agreement, deemed to be incorporated herein and to be a
part hereof).

      "Capital Event" means a notification to the Guarantor from the Dutch
Central Bank to the effect that the [Class B] Preferred Securities may not be
included in Tier I capital of the Guarantor, unless such notification is the
result of the reinvestment of the proceeds from the Intercompany Securities in
other Intercompany Securities, in which case such event shall not constitute a
"Capital Event."

      "Certificate" means the Certificate of Formation of the Company and any
and all amendments thereto and restatements thereof filed on behalf of the

                                       2
<PAGE>

Company with the office of the Secretary of State of the State of Delaware
pursuant to the Delaware Act.

      "[Class A Preferred Certificate" means a certificate substantially in the
form attached hereto as Annex C, evidencing the Class A Preferred Securities
held by a Class A Preferred Securityholder.]

      "[Class A Preferred Securities" has the meaning specified in Section
10.03.]

      "[Class A Preferred Securityholder" means a Securityholder that owns one
or more Class A Preferred Securities.]

      "[Class B] Dividend Payment Date" has the meaning set forth in Section
10.04(b).

      "[Class B] Dividend Period" has the meaning set forth in Section 10.04(b).

      "[Class B] Guarantee" means the [Class B] Preferred Securities Guarantee
Agreement dated as of [DATE] among the Guarantor, the Initial Holder (as defined
therein), and the Guarantee Trustee.

      "[Class B] Preferred Certificate" means a certificate substantially in the
form attached hereto as Annex D, evidencing the [Class B] Preferred Securities
held by a [Class B] Preferred Securityholder.

      "[Class B] Preferred Securities" has the meaning specified in Section
10.04.

      "[Class B] Preferred Securityholder" means a Securityholder that owns one
or more [Class B] Preferred Securities.

      "Closing Date" means the "closing time" under the Underwriting Agreement.

      "Code" means the Internal Revenue Code of 1986, as amended, or any
corresponding United States federal tax statute enacted after the date of this
Agreement. A reference to a specific section (ss.) of the Code (or any Treasury
regulation promulgated thereunder) refers not only to such section but also to
any corresponding provision of any United States federal tax statute (or any
Treasury regulation promulgated thereunder) enacted after the date of this
Agreement, as such specific section or corresponding provision is in effect on
the date of application of the provisions of this Agreement containing such
reference.

                                       3
<PAGE>

      "Common Securities" means the securities of the Company representing
common limited liability company member interests in the Company which are
described in this Agreement.

      "Common Securityholder" means a Securityholder that owns one or more
Common Securities.

      "Company" has the meaning specified in the Preamble of this Agreement.

      "Contingent Distribution" has the meaning specified in Section 10.04(h).

      "Contingent Guarantee" means the Contingent Guarantee Agreement dated as
of [DATE], among the Guarantor, the Company and the Guarantee Trustee.

      "Delaware Act" has the meaning specified in the first Recital of this
Agreement.

      "Directors" means each of the Persons listed as directors on Annex B
hereto until such Persons shall resign or otherwise be duly removed as a
Director, and each Person who may from time to time be designated to serve as a
successor to any Director of the Company in accordance with the provisions of
this Agreement and of the By-Laws.

      "Dividend Rate" means [__] per annum.

      "DTC" means The Depository Trust Company, a New York corporation.

      "Dutch Central Bank" means De Nederlandsche Bank N.V.

      "Event of Default" means the non-payment of dividends on the [Class B]
Preferred Securities for four consecutive [Class B] Dividend Periods or any six
[Class B] Dividend Periods.

      "Exchange Act" means the United States Securities Exchange Act of 1934, as
amended from time to time, or any successor legislation.

      "Fiscal Year" means (i) the period commencing upon the formation of the
Company and ending on [December 31, 2003], and (ii) any subsequent twelve (12)
month period commencing on January 1 and ending on December 31.

      "Guarantee Independent Director" has the meaning specified in Section
10.04(i)(iii).

      "Guarantee Trustee" means [__], as Guarantee Trustee under the [Class B]
Guarantee, the Trust Guarantee and the Contingent Guarantee.

                                       4
<PAGE>

      "Guarantor" means [ABN AMRO Holding. N.V. / ABN AMRO Bank N.V.].

      "Holder" means any initial holder or subsequent holder of securities
issued by the Trust or the Company, as registered on the books and records of
the Trust or the Company, as the case may be.

      "Holding" means ABN AMRO Holding N.V.

      "Independent Director" means each member of the Board of Directors who (i)
is not a current officer or employee of the Company, the Bank or any Affiliate
of the Bank or of any Person or Persons that, in the aggregate, own more than
10% of the Common Securities or (ii) is elected to the Board of Directors by the
[Class B] Preferred Securityholders in accordance with the provisions hereof.

      "Initial Class A Preferred Securityholder" means [__].

      "Initial [Class B] Preferred Securityholder" means [__].

      "Initial Common Securityholder" means [__]

      "Initial Intercompany Securities" means [TITLE OF SECURITIES].

      "Initial Purchaser" means [__], as initial purchaser of the [Class B]
Preferred Securities.

      "Intercompany Securities" means the Initial Intercompany
Securities and the Successor Intercompany Securities.

      "Investment Company Event" means that the Guarantor shall have requested
and received an opinion of a nationally recognized U.S. law firm experienced in
such matters to the effect that there is more than an insubstantial risk that
the Company is or will be considered an "investment company" within the meaning
of the 1940 Act (i) as a result of any judicial decision, any pronouncement or
interpretation (irrespective of the manner made known), the adoption or
amendment of any law, rule or regulation, any notice of announcement (including
any notice or announcement or intent to adopt such rule or regulation) by any
U.S. legislative body, court, governmental agency, or regulatory authority after
the date hereof or (ii) as a result of any change after the date hereof in the
laws of the Netherlands relating to the enforceability of the Trust Guarantee or
the [Class B] Guarantee thereunder, as confirmed in an opinion of a nationally
recognized Dutch law firm experienced in such matters.

      "Majority (or Other Stated Percentage) in liquidation amount" means,
except as provided by the 1939 Act, a vote by Securityholders of a class of
Securities, voting as a class, of more than 50% (or other stated percentage) of
the liquidation amount (including the stated amount that would be paid on

                                       5
<PAGE>

redemption, liquidation or otherwise, plus accumulated and unpaid dividends to
the date upon which the voting percentages are determined) of all Securities of
such class.

      "Manager Trustee" means [__], until a Successor Manager Trustee has been
appointed and has accepted such appointment pursuant to the terms of this
Agreement and thereafter means each such Successor Manager Trustee.

      "1940 Act" means the United States Investment Company Act of 1940, as
amended from time to time, or any successor legislation.

      "1939 Act" means the Trust Indenture Act of 1939, as amended from time to
time, or any successor legislation.

      "Officer" means each of the Persons listed as an Officer on Annex B hereto
until such Person shall resign or otherwise be duly removed as an Officer and
each Person who may from time to time be duly appointed an Officer by the Board
of Directors or pursuant to Section 9.01 and acting in accordance with the
provisions of this Agreement and of the By-Laws.

      "Officers' Certificate" means, with respect to the Company, a certificate
signed by two Officers.

      "Ordinary Shares" means the ordinary shares of the Guarantor, any other
shares of the Guarantor's capital stock ranking junior to the Parity Preferred
Shares, if any, and any guarantees of the Guarantor ranking junior to the Parity
Guarantees.

      "Original Agreement" has the meaning specified in the first Recital of
this Agreement.

      "Parity Guarantee" means [SPECIFIC GUARANTEES], and any other guarantee
issued by the Guarantor of any preferred securities or preferred or preference
shares issued by any subsidiary of the Guarantor, if such guarantee ranks pari
passu with the Guarantor's obligations under the [Class B] Guarantee and the
Trust Guarantee.

      "Parity Preferred Shares" means the most senior ranking preferred or
preference shares issued by the Guarantor.

      "Parity Securities" means, collectively, the Parity Guarantees, the Parity
Preferred Shares and the Parity Subsidiary Securities.

      "Parity Subsidiary Securities" means any securities issued by a subsidiary
of the Guarantor guaranteed by the Guarantor under a Parity Guarantee.

                                       6
<PAGE>

      "Person" means any individual, corporation, association, partnership
(general or limited), joint venture, trust, estate, limited liability company,
or other legal entity or organization, including a government or political
subdivision or an agency or instrumentality thereof.

      "Power of Attorney" means the power of attorney granted pursuant to
Section 19.06.

      "Preferred Securities" means the [Class A Preferred Securities and the]
[Class B] Preferred Securities.

      "Preferred Securityholder" means a Securityholder that holds one or more
Preferred Securities.

      "Qualified Subsidiary" means one or more subsidiaries of Holding or the
Bank which are deemed to be a "company controlled by the parent company" under
Rule 3a-5, as amended, of the 1940 Act.

      "Redemption Notice" has the meaning specified in Section 10.04(e).

      "Redemption Price" has the meaning set forth in Section 10.04(d).

      "Registrar" has the meaning specified in Section 16.05.

      "Relevant Jurisdiction" means The Netherlands and, during any period any
Successor Intercompany Security is outstanding, the jurisdiction of residence of
any obligor on any such Successor Intercompany Security.

      "Relevant Tax" means any present or future taxes, duties, assessments or
governmental charges of whatever nature, imposed or levied by or on behalf of
any Relevant Jurisdiction or any authority therein or thereof having power to
tax.

      "Responsible Officer" means, with respect to the Manager Trustee, any
officer within the Corporate Trust Office of the Manager Trustee, including any
vice president, any assistant vice president, any secretary, any assistant
secretary, the treasurer, any assistant treasurer or other officer of the
Manager Trustee customarily performing functions similar to those performed by
any of the above designated officers and also means, with respect to a
particular corporate trust matter, any other officer to whom such matter is
referred because of that officer's knowledge of and familiarity with the
particular subject.

      "Securities Act" means the United States Securities Act of 1933, as
amended from time to time, or any successor legislation.

      "Securities Register" has the meaning specified in Section 16.05.

                                       7
<PAGE>

      "Security" means a limited liability company interest in the Company,
including the right of the holder thereof to any and all benefits to which a
Securityholder may be entitled as provided in this Agreement, together with the
obligations of a Securityholder to comply with all of the terms and provisions
of this Agreement, and includes the Common Securities and the Preferred
Securities from time to time outstanding.

      "Securityholder" means any Person that holds a Security of the Company and
is admitted as a member and Securityholder of the Company pursuant to the
provisions of this Agreement and of the Delaware Act, in its capacity as a
Securityholder of the Company. For purposes of the Delaware Act, the Common
Securityholders and the Preferred Securityholders shall constitute separate
classes or groups of Securityholders and of members of the Company.

      "Services Agreement" means the Services Agreement dated as of [DATE] among
the Common Securityholder, the Guarantor, the Trust and the Company.

      "Special Redemption Event" means (a) a Capital Event, (b) a Tax Event or
(c) an Investment Company Event.

      "Successor Intercompany Securities" has the meaning specified in Section
6.01.

      "Successor Securities" has the meaning specified in Section 17.01.

      "Tax Event" means the receipt by the Guarantor or any of its Affiliates of
an opinion of a nationally recognized law firm or other tax advisor in the
United States or The Netherlands, as appropriate, experienced in such matters to
the effect that, as a result of (A) any amendment to, clarification of, or
change (including any announced prospective change) in, the laws or treaties (or
any regulations promulgated thereunder) of the United States or The Netherlands
or any political subdivision or taxing authority thereof or therein affecting
taxation, (B)any Administrative Action or (C) any amendment to, clarification
of, or change in the official position or the interpretation of any
Administrative Action or any interpretation or pronouncement that provides for a
position with respect to any Administrative Action that differs from the
theretofore generally accepted position, in each case, by any legislative body,
court, governmental authority or regulatory body, irrespective of the manner in
which such amendment, clarification or change is made known, which amendment,
clarification or change is effective or which pronouncement or decision is
announced on or after the date of issuance of the [Class B] Preferred
Securities, there is more than an insubstantial risk that the Company is, or
will be, subject to more than a de minimis amount of taxes, duties or other
governmental charges; provided that an obligation to withhold any present or
future tax, duty, assessment or other governmental charge on any Intercompany
Security in respect of payment made

                                       8
<PAGE>

to the Company on such Intercompany Security shall not constitute a Tax Event
under any circumstances.

      "Tax Matters Partner" means [__] designated as such in Section 14.01.

      "Transfer Agent" has the meaning specified in Section 16.05.

      "Treasury Regulations" means the income tax regulations, including
temporary regulations, promulgated under the Code, as such regulations may be
amended from time to time (including corresponding provisions of succeeding
regulations).

      "Trust" means ABN AMRO Capital Funding Trust [ ], a Delaware statutory
trust.

      "Trust Common Securities" means the [Common Securities] issued by the
Trust.

      "Trust Guarantee" means the Trust Securities Guarantee Agreement dated as
of [DATE] among the Guarantor, the Initial Holders named therein, and the
Guarantee Trustee.

      "Trust Preferred Securities" means the [Preferred Securities] issued by
the Trust.

      "Trust Securities" means the Trust Common Securities and the Trust
Preferred Securities.

      "Underwriting Agreement" means the Purchase Agreement dated as of [DATE]
among [PARTIES] and the Underwriters named therein relating to the sale and
issuance of Trust Preferred Securities.

      Section 1.02. Headings. The headings and subheadings in this Agreement are
included for convenience and identification only and are in no way intended to
describe, interpret, define or limit the scope, extent or intent of this
Agreement or any provision hereof.

                                    ARTICLE 2
                               TRUST INDENTURE ACT

      Section 2.01. Trust Indenture Act; Application. (a) Trust Indenture Act;
Application. (a) This Agreement is subject to the provisions of the 1939 Act
that are required to be part of this Agreement and shall, to the extent
applicable, be governed by such provisions. A term defined in the 1939 Act has
the same meaning when used in this Agreement, unless otherwise defined in this
Agreement or unless the context otherwise requires.

                                       9
<PAGE>

      (b) If and to the extent that any provision of this Agreement limits,
qualifies or conflicts with the duties imposed by Sections 310 to 317,
inclusive, of the 1939 Act, such imposed duties shall control.

      Section 2.02. Lists of Holders of Securities. (a) If the [Class B]
Preferred Securities are not held in the form of a Global Certificate registered
in the name of Cede & Co. or a nominee of DTC, the Manager Trustee shall
preserve in as current a form as is reasonably practicable the most recent list
available to it of the names and addresses of [Class B] Preferred
Securityholders. If the Manager Trustee is not the Registrar, the Company, or
the Common Securityholder on behalf of the Company, shall furnish to the Manager
Trustee quarterly on or before the last day of March, June, September, and
December in each year, and at such other times as the Manager Trustee may
request in writing, a list, in such form and as of such date as the Manager
Trustee may reasonably require, containing all the information in the possession
or control of the Registrar, the Company or any of its paying agents other than
the Manager Trustee as to the names and addresses of [Class B] Preferred
Securityholders.

      (b) The Manager Trustee shall comply with its obligations under Sections
311(a), 311(b) and 312(b) of the 1939 Act.

      Section 2.03. Reports by the Manager Trustee. Within 60 days after May 15
of each year, the Manager Trustee shall provide to the [Class B] Preferred
Securityholders such reports as are required by Section 313 of the 1939 Act, if
any, in the form and in the manner provided by Section 313 of the 1939 Act. The
Manager Trustee shall also comply with the requirements of Section 313(d) of the
1939 Act.

      Section 2.04. Periodic Reports to Manager Trustee. The Company shall
provide to the Manager Trustee such documents, reports and information as
required by Section 314 (if any) and the compliance certificate required by
Section 314 of the 1939 Act in the form, in the manner and at the times required
by Section 314 of the 1939 Act. Delivery of such reports, information and
documents to the Manager Trustee is for informational purposes only and the
Manager Trustee's receipt of such shall not constitute constructive notice of
any information contained therein or determinable from information contained
therein, including the Company's compliance with any of its covenants hereunder
(as to which the Manager Trustee is entitled to rely exclusively on Officers'
Certificates).

      Section 2.05. Evidence of Compliance with Conditions Precedent. The
Company shall provide to the Manager Trustee such evidence of compliance with
any conditions precedent, if any, provided for in this Agreement that relate to
any of the matters set forth in Section 314(c) of the 1939 Act. Any certificate
or opinion required to be given by an officer pursuant to Section 314(c)(1) of
the 1939 Act may be given in the form of an Officers' Certificate and shall
include:

                                       10
<PAGE>

      (a) a statement that each Officer signing the Officers' Certificate has
read the covenant or condition and the definition relating thereto;

      (b) a brief statement of the nature and scope of the examination or
investigation undertaken by each Officer in rendering the Officers' Certificate;

      (c) a statement that each such Officer has made such examination or
investigation as, in such Officer's opinion, is necessary to enable such Officer
to express an informed opinion as to whether or not such covenant or condition
has been complied with; and

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

      Section 2.06. Events of Default; Waiver. The Holders of a Majority in
liquidation amount of the [Class B] Preferred Securities may, by vote, on behalf
of the [Class B] Preferred Securityholders, waive any past Event of Default and
its consequences, except an Event of Default in respect of a term or provision
hereof which cannot be modified or amended without the consent of each [Class B]
Preferred Securityholder. Upon such waiver, any such Event of Default shall
cease to exist, and any Event of Default arising therefrom shall be deemed to
have been cured, for every purpose of this Agreement, but no such waiver shall
extend to any subsequent or other default or Event of Default or impair any
right consequent thereon.

      Section 2.07. Event of Default; Notice. (a) The Manager Trustee shall,
within 90 days after the occurrence of an Event of Default, transmit by mail,
first class postage prepaid, to the [Class B] Preferred Securityholders, notices
of all Events of Default actually known to a Responsible Officer of the Manager
Trustee, unless such defaults have been cured before the giving of such notice,
provided, that, the Manager Trustee shall be protected in withholding such
notice if and so long as a Responsible Officer of the Manager Trustee in good
faith determines that the withholding of such notice is in the interests of the
[Class B] Preferred Securityholders.

      (b) The Manager Trustee shall not be deemed to have knowledge of any Event
of Default unless the Manager Trustee shall have received written notice, or a
Responsible Officer of the Manager Trustee charged with the administration of
the Agreement shall have obtained actual knowledge, of such Event of Default.

      Section 2.08. Rights of Holders. (a) The Holders of a Majority in
liquidation amount of the [Class B] Preferred Securities have the right to
direct the time, method and place of conducting of any proceeding for any remedy
available to the Manager Trustee in respect of enforcing the rights of such
class under this Agreement or exercising any trust or power conferred upon the
Manager Trustee under this Agreement.

                                       11
<PAGE>

      (b) If the Manager Trustee fails to enforce its rights under this
Agreement after a [Class B] Preferred Securityholder has made a written request,
such [Class B] Preferred Securityholder may institute a legal proceeding
directly against the Company to enforce the Manager Trustee's rights under this
Agreement, without first instituting a legal proceeding against the Manager
Trustee or any other person or entity. Notwithstanding the foregoing, if the
Company has failed to make any payment of dividends declared, a [Class B]
Preferred Securityholder may take any action authorized by this Agreement and
may directly institute a proceeding in such [Class B] Preferred Securityholder's
own name against the Company for enforcement of this Agreement for such payment
or the Guarantor for enforcement of the [Class B] Guarantee.

                                    ARTICLE 3
                  POWERS, DUTIES AND RIGHTS OF MANAGER TRUSTEE

      Section 3.01. Powers, Duties and Rights of Manager Trustee. (a) This
Agreement shall be held by the Manager Trustee for the benefit of the [Class B]
Preferred Securityholders, and the Manager Trustee shall not transfer this
Agreement to any Person except a [Class B] Preferred Securityholder exercising
his or her rights pursuant to Section 2.08(b) or to a Successor Manager Trustee
on acceptance by such Successor Manager Trustee of its appointment to act as
Successor Manager Trustee. The right, title and interest of the Manager Trustee
in this Agreement shall automatically vest in any Successor Manager Trustee, and
such vesting and cessation of title shall be effective whether or not
conveyancing documents have been executed and delivered pursuant to the
appointment of such Successor Manager Trustee.

      (b) If an Event of Default actually known to a Responsible Officer of the
Manager Trustee has occurred and is continuing, the Manager Trustee shall
enforce this Agreement for the benefit of the [Class B] Preferred
Securityholders.

      (c) The Manager Trustee, before the occurrence of any Event of Default and
after the curing or waiver of all Events of Default that may have occurred,
shall undertake to perform only such duties as are specifically set forth in
this Agreement, and no implied covenants shall be read into this Agreement
against the Manager Trustee. In case an Event of Default has occurred (that has
not been cured or waived pursuant to Section 2.06) and is actually known to a
Responsible Officer of the Manager Trustee, the Manager Trustee shall exercise
such of the rights and powers vested in it by this Agreement, and use the same
degree of care and skill in its exercise thereof, as a prudent person would
exercise or use under the circumstances in the conduct of his or her own
affairs.

      (d) No provision of this Agreement shall be construed to relieve the
Manager Trustee from liability for its own grossly negligent action, its own
grossly negligent failure to act, or its own willful misconduct, except that:

                                       12
<PAGE>

            (i) Prior to the occurrence of any Event of Default and after the
      curing or waiving of all such Events of Default that may have occurred:

                  (A) the duties and obligations of the Manager Trustee shall be
            determined solely by the express provisions of this Agreement, and
            the Manager Trustee shall not be liable except for the performance
            of such duties and obligations as are specifically set forth in this
            Agreement, and no implied covenants or obligations shall be read
            into this Agreement against the Manager Trustee; and

                  (B) in the absence of bad faith on the part of the Manager
            Trustee, the Manager Trustee may conclusively rely, as to the truth
            of the statements and the correctness of the opinions expressed
            therein, upon any certificates or opinions furnished to the Manager
            Trustee and conforming to the requirements of this Agreement; but in
            the case of any such certificates or opinions that by any provision
            hereof are specifically required to be furnished to the Manager
            Trustee, the Manager Trustee shall be under a duty to examine the
            same to determine whether or not they conform to the requirements of
            this Agreement (but need not confirm or investigate the accuracy or
            any mathematical calculations or other facts stated therein);

            (ii) The Manager Trustee shall not be liable for any error of
      judgment made in good faith by a Responsible Officer of the Manager
      Trustee, unless it shall be proved that the Manager Trustee was grossly
      negligent in ascertaining the pertinent facts upon which such judgment was
      made;

            (iii) The Manager Trustee shall not be liable with respect to any
      action taken or omitted to be taken by it in good faith in accordance with
      the direction of the Securityholders relating to the time, method and
      place of conducting any proceeding for any remedy available to the Manager
      Trustee, or exercising any trust or power conferred upon the Manager
      Trustee under this Agreement; and

            (iv) No provision of this Agreement shall require the Manager
      Trustee to expend or risk its own funds or otherwise incur personal
      financial liability in the performance of any of its duties or in the
      exercise of any of its rights or powers, if the Manager Trustee shall have
      reasonable grounds for believing that the repayment of such funds or
      liability is not assured to it under the terms of this Agreement or
      indemnity, satisfactory to the Manager Trustee, against such risk or
      liability is not reasonably assured to it.

                                       13
<PAGE>

      Section 3.02. Certain Rights of Manager Trustee. (a) Subject to the
provisions of Section 3.01:

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

            (ii) Any direction or act of the Company contemplated by this
      Agreement shall be sufficiently evidenced by an Officers' Certificate.

            (iii) Whenever, in the administration of this Agreement, the Manager
      Trustee shall deem it desirable that a matter be proved or established
      before taking, suffering or omitting any action hereunder, the Manager
      Trustee (unless other evidence is herein specifically prescribed) may, in
      the absence of bad faith on its part, request and conclusively rely upon
      an Officers' Certificate which, upon receipt of such request, shall be
      promptly delivered by the Company.

            (iv) The Manager Trustee shall have no duty to see to any recording,
      filing or registration of any instrument (including any financing or
      continuation statement or any filing under tax or securities laws) (or any
      rerecording, refiling or reregistration thereof).

            (v) The Manager Trustee may, at the expense of the Company, consult
      with counsel or other experts of its selection, and the advice or opinion
      of such counsel and experts with respect to legal matters or advice within
      the scope of such experts' area of expertise shall be full and complete
      authorization and protection in respect of any action taken, suffered or
      omitted by it hereunder in good faith and in accordance with such advice
      or opinion. Such counsel may be counsel to the Company or any of its
      Affiliates and may include any of its employees. The Manager Trustee shall
      have the right at any time to seek instructions concerning the
      administration of this Agreement from any court of competent jurisdiction.

            (vi) The Manager Trustee shall be under no obligation to exercise
      any of the rights or powers vested in it by this Agreement at the request
      or direction of any [Class B] Preferred Securityholder, unless such [Class
      B] Preferred Securityholder shall have provided to the Manager Trustee
      such security and indemnity, satisfactory to the Manager Trustee, against
      the costs, expenses (including attorneys' fees and expenses and the
      expenses of the Manager Trustee's agents, nominees or custodians) and
      liabilities that might be incurred by it in complying with such request or

                                       14
<PAGE>

      direction, including such reasonable advances as may be requested by the
      Manager Trustee; provided that, nothing contained in this Section
      3.02(a)(vi) shall be taken to relieve the Manager Trustee, upon the
      occurrence of an Event of Default, of its obligation to exercise the
      rights and powers vested in it by this Agreement.

            (vii) The Manager Trustee shall not be bound to make any
      investigation into the facts or matters stated in any resolution,
      certificate, statement, instrument, opinion, report, notice, request,
      direction, consent, order, bond, debenture, note, other evidence of
      indebtedness or other paper or document, but the Manager Trustee, in its
      discretion, may make such further inquiry or investigation into such facts
      or matters as it may see fit but shall incur no liability or additional
      liability of any kind by reason of such inquiry or investigation.

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

            (ix) Any action taken by the Manager Trustee or its agents hereunder
      shall bind the [Class B] Preferred Securityholders, and the signature of
      the Manager Trustee or its agents alone shall be sufficient and effective
      to perform any such action. No third party shall be required to inquire as
      to the authority of the Manager Trustee to so act or as to its compliance
      with any of the terms and provisions of this Agreement, both of which
      shall be conclusively evidenced by the Manager Trustee or its agent taking
      such action.

            (x) Whenever in the administration of this Agreement the Manager
      Trustee shall deem it desirable to receive instructions with respect to
      enforcing any remedy or right or taking any other action hereunder, the
      Manager Trustee (i) may request written instructions from the Holders of a
      Majority in liquidation amount of the [Class B] Preferred Securities, (ii)
      may refrain from enforcing such remedy or right or taking such other
      action until such written instructions are received and (iii) shall be
      protected in conclusively relying on or acting in accordance with such
      written instructions.

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

                                       15
<PAGE>

      (b) No provision of this Agreement shall be deemed to impose any duty or
obligation on the Manager Trustee to perform any act or acts or exercise any
right, power, duty or obligation conferred or imposed on it in any jurisdiction
in which it shall be illegal, or in which the Manager Trustee shall be
unqualified or incompetent in accordance with applicable law, to perform any
such act or acts or to exercise any such right, power, duty or obligation. No
permissive power or authority available to the Manager Trustee shall be
construed to be a duty.

      Section 3.03. Not Responsible for Recitals or Issuance of Agreement. The
recitals contained in this Agreement shall be taken as the statements of the
Company, and the Manager Trustee does not assume any responsibility for their
correctness. The Manager Trustee makes no representation as to the validity or
sufficiency of this Agreement.

                                    ARTICLE 4
                                 MANAGER TRUSTEE

      Section 4.01. Manager Trustee; Eligibility. (a) There shall at all times
be a Manager Trustee which shall:

            (i) not be an Affiliate of the Company; and

            (ii) be a corporation organized and doing business under the laws of
      the United States of America or any State thereof or of the District of
      Columbia, or a corporation or Person permitted by the Securities and
      Exchange Commission to act as an institutional trustee under the 1939 Act,
      authorized under such laws to exercise corporate trust powers, having a
      combined capital and surplus of at least 50 million U.S. dollars
      ($50,000,000), and subject to supervision or examination by Federal,
      State, or District of Columbia authority. If such corporation publishes
      reports of condition at least annually, pursuant to law or to the
      requirements of the supervising or examining authority referred to above,
      then, for the purposes of this Section 4.01(a)(ii), the combined capital
      and surplus of such corporation shall be deemed to be its combined capital
      and surplus as set forth in its most recent report of condition so
      published.

      (b) If at any time the Manager Trustee shall cease to be eligible to so
act under Section 4.01, the Manager Trustee shall immediately resign in the
manner and with the effect set out in Section 4.02(c).

      (c) If the Manager Trustee has or shall acquire any "conflicting interest"
within the meaning of Section 310(b) of the 1939 Act, the Manager Trustee and
Company shall in all respects comply with the provisions of Section 310(b) of
the 1939 Act.

                                       16
<PAGE>

      Section 4.02. Appointment, Removal and Resignation of Manager Trustee. (a)
Subject to Section 4.02(b), the Manager Trustee may be appointed or removed
without cause at any time by a majority of the outstanding Common
Securityholders voting as a class at a meeting of the Common Securityholders.

      (b) The Manager Trustee shall not be removed in accordance with Section
4.02 until a Successor Manager Trustee has been appointed and has accepted such
appointment by written instrument executed by such Successor Manager Trustee and
delivered to the Company.

      (c) The Manager Trustee appointed to office shall hold office until a
Successor Manager Trustee shall have been appointed or until its removal or
resignation. The Manager Trustee may resign from office (without need for prior
or subsequent accounting) by an instrument in writing executed by the Manager
Trustee and delivered to the Company, which resignation shall not take effect
until a Successor Manager Trustee has been appointed and has accepted such
appointment by instrument in writing executed by such Successor Manager Trustee
and delivered to the Company and the resigning Manager Trustee.

      (d) If no Successor Manager Trustee shall have been appointed and accepted
appointment as provided in this Section 4.02 within 60 days after delivery of an
instrument of removal or resignation, the Manager Trustee resigning or being
removed may petition, at the expense of the Company, any court of competent
jurisdiction for appointment of a Successor Manager Trustee. Such court may
thereupon, after prescribing such notice, if any, as it may deem proper, appoint
a Successor Manager Trustee.

      (e) No Manager Trustee shall be liable for the acts or omissions to act of
any Successor Manager Trustee.

      (f) Upon termination of this Agreement or removal or resignation of the
Manager Trustee pursuant to this Section 4.02, and before the appointment of any
Successor Manager Trustee, the Company shall pay to the Manager Trustee all
amounts to which it (including its agents or attorneys) is entitled to the date
of such termination, removal or resignation.

      Section 4.03. Indemnification and Expenses of the Manager Trustee. The
Common Securityholder agrees to indemnify the Manager Trustee, any predecessor
Manager Trustee, and their respective officers, directors, employees and agents
for, and to hold each of them harmless against, any and all loss, liability,
claim, damage or expense (including taxes other than taxes based on the income
of the Manager Trustee) incurred without negligence or willful misconduct on the
part of such Person, arising out of or in connection with the acceptance or
administration of the trust or trusts by the Manager Trustee hereunder,
including the costs and expenses of defending either of them against any claim
or liability in connection with the exercise or performance of any of its

                                       17
<PAGE>

powers or duties hereunder. The provisions of this Section 4.03 shall survive
the resignation or removal of the Manager Trustee or the termination of this
Agreement.

                                    ARTICLE 5
               CONTINUATION AND TERM; ADMISSION OF SECURITYHOLDERS

      Section 5.01. Continuation. (a) The Securityholders hereby agree to the
continuation of the Company as a limited liability company under and pursuant to
the provisions of the Delaware Act and of this Agreement and agree that the
rights, duties and liabilities of the Securityholders shall be as provided in
the Delaware Act, except as otherwise provided herein or in the By-Laws.

      (b) Any Person designated as an "authorized person" by the Board of
Directors is authorized to execute, deliver and file on behalf of the Company
any and all amendments to and restatements of the Certificate, as an authorized
person within the meaning of the Delaware Act.

      Section 5.02. Admission of Securityholders. Upon the execution of this
Agreement, the Common Securityholder shall become and be designated as,
automatically and without any further act on the part of any Person being
necessary, the Initial Common Securityholder [and Class A Preferred
Securityholder]. Upon the execution of this Agreement and payment to the Company
for the [Class B] Preferred Securities on the Closing Date, the Trust shall
become and be designated as, without any further act on the part of any Person
being necessary, the initial [Class B] Preferred Securityholder.

      Section 5.03. Name. The name of the Company heretofore formed and
continued hereby is "ABN AMRO Capital Funding LLC [ ]." The business of the
Company may be conducted upon compliance with all applicable laws under any
other name designated by the Board of Directors.

      Section 5.04. Term. The term of the Company shall commence upon the date
the Certificate shall have been filed in the office of the Secretary of State of
the State of Delaware and shall continue perpetually, unless the Company is
dissolved in accordance with the provisions of the Delaware Act and this
Agreement. The existence of the Company as a separate legal entity shall
continue until the cancellation of the Certificate in the manner required by the
Delaware Act.

      Section 5.05. Registered Agent and Office. The Company's registered agent
in Delaware shall be The Corporation Trust Company, Corporation Trust Center,
1209 Orange Street, City of Wilmington, County of New Castle, Delaware 19801,
and its office shall be c/o the registered agent. At any time, the

                                       18
<PAGE>

Board of Directors may designate another registered agent and/or registered
office.

      Section 5.06. Principal Place of Business. The principal place of business
of the Company shall be at 135 South LaSalle Street, Chicago, Illinois. The
Board of Directors may change the location of the Company's principal place of
business; provided, however, that such change has no material adverse effect
upon any [Class B] Preferred Securityholder.

      Section 5.07. Qualification in Other Jurisdictions. The Board of Directors
shall cause the Company to be qualified or registered under assumed or
fictitious name statutes or similar laws in any jurisdiction in which the
Company conducts business and in which such qualification or registration is
required by law or deemed advisable by the Board of Directors. Each Person
designated by the Board of Directors as an "authorized person" is authorized to
execute, deliver and file on behalf of the Company any certificates (and any
amendments or restatements thereof) necessary for the Company to qualify to do
business in each jurisdiction in which the Board of Directors has determined
that the Company shall conduct business.

                                    ARTICLE 6
                   PURPOSE AND POWERS OF THE COMPANY; BY-LAWS

      Section 6.01. Purposes and Powers. The sole purposes of the Company are:

      (a) to issue Preferred Securities and Common Securities,

      (b) to invest the proceeds thereof in the Initial Intercompany Securities
and upon maturity or redemption thereof, in securities issued by Holding, the
Bank, or a non-U.S. affiliate thereof (the "Successor Intercompany Securities"),
so long as any such reinvestment does not cause the Company to be considered to
be an "investment company" within the meaning of the 1940 Act,

      (c) to enter into and, under the circumstances set forth in Section
10.04(h) hereof, to enforce the Contingent Guarantee for the sole benefit of the
[Class B] Preferred Securityholders, and

      (d) except as otherwise expressly limited herein, to enter into, make and
perform all contracts and other undertakings, and engage in all activities and
transactions, as the Board of Directors may reasonably deem necessary or
advisable for the carrying out of the foregoing purposes of the Company, in all
events without causing the Company to be treated as other than a partnership
that is not a publicly traded partnership for U.S. federal income tax purposes.
The Company may not conduct any other business or operations except as

                                       19
<PAGE>

contemplated by the preceding sentence. The Company shall have the power and
authority to take any and all actions necessary, appropriate, proper, advisable,
incidental or convenient to or for the furtherance of the purposes of the
Company as set forth herein.

      Section 6.02. By-Laws. The Board of Directors, Officers and
Securityholders shall be subject to the express provisions of this Agreement and
of the By-Laws. In case of any conflict between any provisions of this Agreement
and any provisions of the By-Laws, the provisions of this Agreement shall
control.

                                    ARTICLE 7
                CAPITAL CONTRIBUTIONS; ALLOCATIONS AND SECURITIES

      Section 7.01. Form of Contribution. The contribution to the Company with
respect to a Securityholder may, as determined by the Board of Directors in its
discretion, be in cash or other legal consideration.

      Section 7.02. Contributions with Respect to the Common Securityholder. The
Common Securityholder shall contribute to the Company on or prior to the Closing
Date, in connection with the purchase of Common Securities, cash in the amount
of $[__].

      Section 7.03. Contributions with Respect to the Preferred Securityholders.
(a) [The Class A Preferred Securityholder shall contribute to the Company on or
prior to the Closing Date, in connection with the purchase of Class A Preferred
Securities, cash in the amount of $[__].]

      (b) On the Closing Date with respect to the issuance of [Class B]
Preferred Securities, the Initial Purchaser shall, in exchange for a definitive
[Class B] Preferred Certificate, contribute to the capital of the Company on
behalf of the Holders of such [Class B] Preferred Securities, contribute an
amount in cash equal to the gross proceeds from the sale of the [Class B]
Preferred Securities, or where the Holder of the [Class B] Securities is the
Trust, the gross proceeds from the sale of the Trust Preferred Securities and
the Trust Common Securities (such amount being a capital contribution to the
Company).

      Preferred Securityholders, in their capacity as Securityholders of the
Company, shall not be required to make any additional contributions to the
Company (except as may be required by law).

      Section 7.04. Allocation of Profits and Losses. Except as otherwise
provided in Section 10.03 or 10.04, the profits and losses of the Company for
any Fiscal Year (or portion thereof) shall be allocated as follows:

                                       20
<PAGE>

      (a) all gains and losses resulting from any disposition of assets
(including, without limitation, any redemption or prepayment of assets) by the
Company shall be allocated 100% to the Common Securityholders;

      (b) gross income of the Company for each [Class B] Dividend Period
(determined without regard to the amount of any gains and losses described in
subparagraph (a) of this Section 7.04) shall be allocated (i) pro rata among the
Preferred Securityholders until the amount so allocated to each Preferred
Securityholder equals the amount of dividends declared and attributable to such
Period (or portion thereof) as determined on a daily accrual basis with respect
to the Preferred Securities held by such Securityholder and (ii) thereafter to
the Common Securityholders provided that if dividends are declared on the Class
A Preferred Securities, gross income shall be allocated to the Class A Preferred
Securityholder in the amount of such dividends before any allocations pursuant
to (i) or (ii); and

      (c) expenses, deductions and losses (if any) of the Company (determined
without regard to the amount of any gains and losses described in subparagraph
(a) of this Section 7.04) shall be allocated 100% to the Common Securityholder.

      Notwithstanding the foregoing, the Tax Matters Partner shall have the
power to alter any such allocations for federal, state, and local income tax
purposes if such alteration is necessary to cause such allocations to have
"substantial economic effect" (within the meaning of Treasury Regulations
Section 1.704 1(b)(2)) or to ensure that such allocations are otherwise in
accordance with the interests of the Securityholders (within the meaning of
Treasury Regulations Section 1.704 1(b)(3)) determined on the basis of the
economic arrangements of the parties as described in this Agreement.

      Section 7.05. Withholding. The Company shall comply with any withholding
requirements under federal, state and local law and the laws of any Relevant
Jurisdiction and shall remit amounts withheld to and file required forms with
applicable jurisdictions. Subject to the provisions of Section 10.04, to the
extent that the Company is required to withhold and pay over any amounts to any
authority with respect to distributions or allocations to any Securityholder,
the amount withheld shall be deemed to be a distribution in the amount of the
withholding to such Securityholder. To the fullest extent permitted by law, in
the event of any claimed over withholding, Securityholders shall be limited to
an action against the applicable jurisdiction. If the amount withheld was not
withheld from actual distributions, the Company may reduce subsequent
distributions by the amount of such withholding, except with respect to
distributions on the [Class B] Preferred Securities. Each Securityholder, by its
acceptance of Securities, shall be deemed to agree to furnish the Company with
any representations and forms as shall reasonably be requested by the Company to
assist it in determining the extent of, and in fulfilling, its withholding
obligations.

                                       21
<PAGE>

      Section 7.06. Securities as Personal Property. Each Securityholder hereby
agrees that its Securities shall for all purposes be personal property. A
Securityholder has no interest in specific property of the Company.

                                   ARTICLE 8
                                 SECURITYHOLDERS

      Section 8.01. Powers of Securityholders. The Securityholders shall have
the power to exercise any and all rights or powers granted to the
Securityholders pursuant to the express terms of this Agreement and of the
By-Laws, and shall be subject in all respects to the provisions hereof and
thereof.

      Section 8.02. Partition. Each Securityholder waives any and all rights
that it may have to maintain an action for partition of the property of the
Company.

      Section 8.03. Resignation. A Securityholder may resign from the Company
prior to the dissolution and winding up of the Company only upon the assignment
of its entire ownership interest in any Securities (including as a result of any
redemption, repurchase or other acquisition by the Company of such Securities)
in accordance with the provisions of this Agreement. A resigning Securityholder
shall not be entitled to receive any distribution and shall not otherwise be
entitled to receive the fair value of its Securities except as otherwise
expressly provided for in this Agreement.

      Section 8.04. Liability of Securityholders. (a) Except as otherwise
provided by the Delaware Act, (i) the debts, obligations and liabilities of the
Company, whether arising in contract, tort or otherwise, shall be solely the
debts, obligations and liabilities of the Company and (ii) no Securityholder
shall be obligated personally for any such debt, obligation or liability of the
Company solely by reason of being a Securityholder of the Company.

      (b) A Securityholder, in its capacity as such, shall have no liability in
excess of (i) the amount of its capital contributions, (ii) its share of any
assets and undistributed profits of the Company, (iii) any amounts required to
be paid by such Securityholder pursuant to this Agreement or any payment and/or
indemnity in connection with the registration of transfers of Securities and
(iv) the amount of any distributions wrongfully distributed to it to the extent
set forth in the Delaware Act.

                                       22
<PAGE>

                                    ARTICLE 9
                                   MANAGEMENT

      Section 9.01. Management of the Company. (a) Except as otherwise expressly
provided in this Agreement or in the By-Laws or as provided in the Delaware Act,
the business and affairs of the Company shall be managed, and all actions
required under this Agreement shall be determined, solely and exclusively by the
Board of Directors, which shall have all rights and powers on behalf and in the
name of the Company to perform all acts necessary or desirable to the objects
and purposes of the Company, including the right to appoint Officers and to
authorize any Officer to act on behalf of the Company. Any action taken by the
Board of Directors or any duly appointed and acting Officer in accordance with
this Agreement or the By-Laws shall constitute the act of, and shall serve to
bind, the Company.

      (b) The number of directors of the Company initially shall be four, which
number may be increased as provided in this Agreement or in the By-Laws, but
shall never be less than four nor more than seven. The names of the Directors,
who shall serve until the first annual meeting of Securityholders, if any, and
until their successors are duly elected and qualify, are set forth in Annex B
hereto. These Directors may increase the number of Directors and may fill any
vacancy, whether resulting from an increase in the number of directors or
otherwise, on the Board of Directors occurring before the first annual meeting
of Securityholders in the manner provided in the By-Laws. Two Independent
Directors may be appointed to the Board of Directors pursuant to Section
10.04(i)(ii) under the circumstances set forth therein. Each such Independent
Director shall have all the rights, powers and authorities of a Director to
participate in actions by the Board of Directors on behalf of the Company. The
Guarantee Independent Director may be appointed to the Board of Directors
pursuant to Section 10.04(i)(iii) under the circumstances set forth therein. The
Guarantee Independent Director shall have the sole authority, right and power to
enforce the claim of the Company under the Contingent Guarantee and shall have
no right, power or authority to participate in the management of the business
and affairs of the Company by the Board of Directors whatsoever, except for
actions related to the enforcement of the Contingent Guarantee on behalf of the
Company and the distribution of the Contingent Distribution to the [Class B]
Preferred Securityholders pursuant to Section 10.04(h). The names of the initial
Officers, and their offices, are set forth in Annex B hereto. Each such Officer
shall have the duties and responsibilities that would apply to his or her office
if the Company were a corporation established under the Delaware General
Corporation Law, except to the extent that the Directors from time to time
determine otherwise.

      (c) Each member of the Board of Directors shall be a "manager" of the
Company for all purposes of, and within the meaning of, the Delaware Act.

                                       23
<PAGE>

      (d) Without limiting the generality of the foregoing, and subject to the
provisions of Section 9.02, the Board of Directors shall have all authority,
rights and powers in the management of the business of the Company to do any and
all other acts and things necessary, proper, convenient or advisable to
effectuate the purposes of this Agreement; provided that in exercising its
authority, rights and powers in the management of the business of the Company,
the Board of Directors shall use commercially reasonable efforts in order that
any such action does not cause the Company to be treated as an association or as
a "publicly traded partnership" (within the meaning of Section 7704 of the
Code), including, by way of illustration but not by way of limitation, the
following:

            (i) to authorize the Company or any Officer of the Company on behalf
      of the Company, to engage in transactions and dealings, including
      transactions and dealings with any Securityholder or any Affiliate of any
      Securityholder and including the entering into and performance by the
      Company of one or more agreements with any person, corporation,
      association, company, trust, partnership (limited or general) or other
      organization whereby, subject to the supervision and control of the Board
      of Directors, any such other person, corporation, association, company,
      trust, partnership (limited or general) or other organization shall render
      or make available to the Company managerial, investment, advisory or
      related services, office space and other services and facilities upon such
      terms and conditions as may be provided in such agreement or agreements
      (including, if deemed fair and equitable by the Board of Directors, the
      compensation payable thereunder by the Company);

            (ii) to call meetings of Securityholders or any class or series
      thereof;

            (iii) to issue Common Securities and Preferred Securities in
      accordance with the provisions of this Agreement;

            (iv) to pay all expenses incurred in forming the Company to the
      extent not paid by the Bank or any other party responsible therefor;

            (v) to purchase and hold Intercompany Securities;

            (vi) to authorize, declare or otherwise determine and make
      dividends, in cash or otherwise, on Securities, in accordance with the
      provisions of this Agreement and of the Delaware Act;

            (vii) to establish, when a record date is not otherwise established
      by this Agreement, a record date with respect to all actions to be taken
      hereunder that require a record date to be established, including with
      respect to allocations, dividends and voting rights;

                                       24
<PAGE>

            (viii) to establish or set aside in their discretion any reserve or
      reserves for contingencies and for any other proper Company purpose;

            (ix) to redeem or repurchase, on behalf of the Company, Securities
      which may be so redeemed or repurchased in accordance with the provisions
      of this Agreement;

            (x) to appoint (and dismiss from appointment) attorneys and agents
      on behalf of the Company, and employ (and dismiss from employment) any and
      all Persons providing legal, accounting or financial services to the
      Company, or such other employees or agents as the Directors deem necessary
      or desirable for the management and operation of the Company;

            (xi) to incur and pay all expenses and obligations incident to the
      operation and management of the Company, including, without limitation,
      the services referred to in the preceding paragraph, taxes, interest, rent
      and insurance;

            (xii) to open accounts and deposit, maintain and withdraw funds in
      the name of the Company in banks, savings and loan associations, brokerage
      firms or other financial institutions;

            (xiii) to effect a dissolution of the Company and to act as
      liquidating trustee or the Person winding up the Company's affairs, all in
      accordance with and subject to the provisions of this Agreement and of the
      Delaware Act;

            (xiv) to bring and defend on behalf of the Company actions and
      proceedings at law or equity before any court or governmental,
      administrative or other regulatory agency, body or commission or
      otherwise;

            (xv) to prepare and cause to be prepared reports, statements,
      Officers' Certificates and other relevant information for distribution to
      the Manager Trustee or the Securityholders as may be required or
      determined to be appropriate by the Board of Directors from time to time;

            (xvi) to prepare and file all necessary returns and statements and
      pay all taxes, assessments and other impositions applicable to the assets
      of the Company;

            (xvii) to amend this Agreement in accordance with Section 19.01
      hereof; and

                                       25
<PAGE>

            (xviii) to execute all other documents or instruments, perform all
      duties and powers and do all things for and on behalf of the Company in
      all matters necessary or desirable or incidental to the foregoing.

      (e) Subject to the provisions of Section 9.02, the expression of any power
or authority of the Board of Directors shall not in any way limit or exclude any
other power or authority which is not specifically or expressly set forth in
this Agreement.

      (f) Notwithstanding anything to the contrary in this Agreement, the
Manager Trustee shall not be deemed to be a member of the Board of Directors and
shall have no right, power or authority to participate in the management of the
business and affairs of the Company by the Board of Directors. Such Manager
Trustee shall be appointed pursuant to Section 4.02 for the sole purpose of
qualifying this Agreement under and enforcing compliance by all the parties
hereto with the 1939 Act. The Manager Trustee may not bind the Company, except
as otherwise provided herein.

      (g) The Company, and the Common Securityholder or any Director or Officer
acting on behalf of the Company, may enter into and perform the Underwriting
Agreement, the Contingent Guarantee and the Services Agreement and may execute
all documents, agreements and certificates contemplated thereby, notwithstanding
any other provision of this Agreement, the Delaware Act or other applicable law.
The authorization described in the preceding sentence shall not be deemed to
subtract from the power and authority of a Director or Officer to enter into any
other agreement or document on behalf of the Company.

      Section 9.02. Limits on Board of Directors' Powers. (a) Notwithstanding
anything to the contrary in this Agreement, the Board of Directors shall use
commercially reasonable efforts to not cause or permit the Company to, and the
Company shall not:

            (i) acquire any assets other than as expressly provided by this
      Agreement or the By-laws;

            (ii) possess Company property for other than a Company purpose;

            (iii) admit a Person as a Securityholder, except as expressly
      provided in this Agreement;

            (iv) (perform any act that would subject any [Class B] Preferred
      Securityholder to liability for the debts, obligations or liabilities of
      the Company in any jurisdiction;

                                       26
<PAGE>

            (v) engage in any activity that is not consistent with the purposes
      of the Company, as set forth in Section 6.01 of this Agreement; or

            (vi) engage in any activity that would cause the Company to be
      treated as an association or as a "publicly traded partnership" (within
      the meaning of Section 7704 of the Code);

      (b) Notwithstanding anything to the contrary in this Agreement, the
Guarantee Independent Director acting alone shall have the sole right to file
and enforce a claim under the Contingent Guarantee on behalf of the Company and
to cause the Contingent Distribution to be made pursuant to Section 10.04(h).

      Section 9.03. Reliance by Third Parties. Persons dealing with the Company
are entitled to rely conclusively upon the power and authority of the Board of
Directors and of any duly appointed and acting Officers. In dealing with the
Board of Directors or any Officer duly appointed and acting as set forth in this
Agreement or in the By-Laws, no Person shall be required to inquire into the
authority of the Board of Directors or any such Officer to bind the Company.
Persons dealing with the Company are entitled to rely conclusively on the power
and authority of the Board of Directors or any Officer duly appointed and acting
as set forth in this Agreement or in the By-Laws.

      Section 9.04. No Management by Any Preferred Securityholders. Except as
otherwise expressly provided herein, no Preferred Securityholder, in its
capacity as a Preferred Securityholder of the Company, shall take part in the
day-to-day management, operation or control of the business and affairs of the
Company. The Preferred Securityholders, in their capacity as Preferred
Securityholders of the Company, shall not be agents of the Company and shall not
have any right, power or authority to transact any business in the name of the
Company or to act for or on behalf of or to bind the Company.

      Section 9.05. Business Transactions of the Common Securityholder with the
Company. Subject to Sections 9.01 and 9.02 of this Agreement and applicable law,
a Common Securityholder and any of its Affiliates may hold deposits of, and
enter into business transactions with, the Company and, subject to applicable
law, shall have the same rights and obligations with respect to any such matter
as Persons who are not a Common Securityholder or Affiliates thereof.

      Section 9.06. Outside Businesses. Any Director, Officer, Securityholder or
Affiliate thereof may engage in or possess an interest in other business
ventures of any nature or description, independently or with others, similar or
dissimilar to the business of the Company, and the Company and the
Securityholders shall have no rights by virtue of this Agreement in and to such
independent ventures or the income or profits derived therefrom, and the pursuit
of any such venture, even if competitive with the business of the Company, shall
not be deemed wrongful or

                                       27
<PAGE>

improper. No Director, Officer, Securityholder or Affiliate thereof shall be
obligated to present any particular investment opportunity to the Company even
if such opportunity is of a character that, if presented to the Company, could
be taken by the Company, and any Director, Officer, Securityholder or Affiliate
thereof shall have the right to take for its own account (individually or as a
partner or fiduciary) or to recommend to others any such particular investment
opportunity. Any Securityholder or Affiliate thereof may engage or be interested
in any financial or other transaction with any other Securityholder or Affiliate
thereof.

      Section 9.07. Duties of the Guarantee Independent Director and Independent
Directors. A Guarantee Independent Director appointed pursuant to Section
10.04(i)(iii) shall take into account only the interests of the holders of the
[Class B] Preferred Securities and shall owe them fiduciary duties comparable to
those that a director of a Delaware corporation owes to common shareholders of
such corporation. Any Independent Directors appointed pursuant to Section
10.04(i)(ii) shall, in making decisions with respect to the declaration of
dividends or other matters affecting the rights of the [Class B] Preferred
Securityholders as set forth in Section 10.04, take into account only the
interests of the holders of the [Class B] Preferred Securities and, with respect
to all other matters, the interests of the Common Securityholders, [the Class A
Preferred Securityholders,] and the [Class B] Preferred Securityholders. To the
fullest extent permitted by law, including, without limitation, Section
18-1101(c) of the Delaware Act, in considering the interests of the [Class B]
Preferred Securityholders, the Independent Directors shall owe the [Class B]
Preferred Securityholders fiduciary duties comparable to those that a director
of a Delaware corporation owes to common shareholders of such corporation.

                                   ARTICLE 10
                   COMMON SECURITIES AND PREFERRED SECURITIES

      Section 10.01. Common Securities and Preferred Securities. (a) The
Securities of the Company shall be divided into Common Securities and Preferred
Securities, and the Preferred Securities shall be divided into two separate
classes. The Initial Common Securityholder shall be deemed to have been issued
40 Common Securities upon its designation as the Common Securityholder pursuant
to Section 5.02 of this Agreement for $[__] in cash contributed by the Common
Securityholder to the Company pursuant to Section 7.02.

      (b) No Common Securityholders or Preferred Securityholders shall be
entitled as a matter of right to subscribe for or purchase, or have any
preemptive right with respect to, any part of any new or additional issue of
Preferred Securities whatsoever, whether now or hereafter authorized and whether
issued for cash or other consideration or by way of a dividend or other
distribution.

                                       28
<PAGE>

      (c) A Preferred Security shall be represented by the corresponding
Preferred Securities Certificate. Common Securities shall not be evidenced by
any certificate or other written instrument, but shall only be evidenced by this
Agreement.

      (d) Upon issuance of the Preferred Securities as provided in this
Agreement, the Preferred Securities so issued shall be deemed to be validly
issued, fully paid and nonassessable.

      (e) In purchasing the Preferred Securities, each Preferred Securityholder
agrees with the [Common Securityholder] and the Company that the [Common
Securityholder], the Company and the Preferred Securityholders will treat
Preferred Securityholders as holders of the Preferred Securities in the Company
for all purposes, and not as the holders of an interest in the [Common
Securityholder] or in any other Person.

      Section 10.02. General Provisions Regarding Preferred Securities. (a)
There are hereby authorized for issuance and sale Preferred Securities having an
aggregate liquidation amount of $[__]. The specific designation, dividend rate,
liquidation amount, redemption terms, voting rights, exchange limitations and
other powers, preferences and special rights and limitations of [the Class A
Preferred Securities and] the [Class B] Preferred Securities are set forth
respectively in Sections 10.03 and 10.04 hereof.

      (b) The Preferred Securities shall rank senior to all other Securities in
respect of the right to receive dividends or other distributions and the right
to receive payments out of the assets of the Company upon voluntary or
involuntary dissolution, liquidation, winding up or termination of the Company
in accordance with the provisions hereof. All Preferred Securities redeemed,
purchased or otherwise acquired by the Company shall be canceled.

      (c) [The Class A Preferred Securities shall rank senior to the [Class B]
Preferred Securities in respect of the right to receive dividends or other
distributions and the right to receive payments out of the assets of the Company
upon voluntary or involuntary dissolution, liquidation, winding up or
termination of the Company in accordance with the provisions hereof; provided
that the Guarantee Independent Director shall enforce the Contingent Guarantee
solely for the benefit of the [Class B] Preferred Securityholders and, solely
with respect to the Contingent Distribution, the [Class B] Preferred Securities
shall rank senior to the Class A Preferred Securities.]

      Section 10.03. [Class A Preferred Securities.]

      (a) [Designation. There shall hereby be designated as a class of Preferred
Securities the Class A Preferred Securities (the "Class A Preferred
Securities"). The Class A Preferred Securities shall have a liquidation amount
of

                                       29
<PAGE>

$[__] per Class A Preferred Security and shall be issued in an aggregate
liquidation amount of $[__]. One-hundred percent of the Class A Preferred
Securities at any time outstanding shall be owned by the Common Securityholder.]

      (b) [Class A Dividend Rights. Class A Preferred Securityholders shall be
entitled to receive when, as and if declared by the Board of Directors out of
assets of the Company legally available therefor, dividends in cash or in assets
of the Company, including in the form of Intercompany Securities. The Board of
Directors may declare a dividend on the Class A Preferred Securities at any
time.]

      (c) [Redemption Terms. The Class A Preferred Securities shall not be
redeemable.]

      (d) [Voting Rights. The Class A Preferred Securityholders shall not be
entitled to vote other than as provided for elsewhere in this Agreement.]

      (e) [Liquidation Distribution. In the event of any voluntary or
involuntary liquidation, dissolution, or winding up of the Company, the Class A
Preferred Securityholders shall be entitled to receive the Intercompany
Securities (including interest accrued and unpaid thereon) as their liquidation
distribution.]

      Section 10.04. [Class B] Preferred Securities.

      (a) Designation. There shall hereby be designated as a class of Preferred
Securities the [__] Noncumulative Guaranteed [Class B] Preferred Securities
(the "[Class B] Preferred Securities"). The [Class B] Preferred Securities
shall have a liquidation amount of $[__] per [Class B] Preferred Security. The
[Class B] Preferred Securities shall be issued in an aggregate liquidation
amount of $[__].

      (b) [Class B] Dividend Rights. (i) [Class B] Preferred Securityholders
shall be entitled to receive when, as and if declared by the Board of Directors
out of assets of the Company legally available therefor, cash dividends from the
date of original issuance of the [Class B] Preferred Securities payable on a
noncumulative basis, [quarterly] in arrears on the last calendar day of [MONTH],
[MONTH], [MONTH] and [MONTH] of each year (each a "[Class B] Dividend Payment
Date") commencing [DATE]. "[Class B] Dividend Periods" shall commence on a
[Class B] Dividend Payment Date, and end on the day that precedes the next
succeeding [Class B] Dividend Payment Date; provided, however, that the first
[Class B] Dividend Period shall commence on and include the original issue date
of the [Class B] Preferred Securities and shall end on and include [DATE].

            (ii) With respect to each [Class B] Dividend Period, dividends shall
      be payable on the liquidation amount of the [Class B] Preferred Securities
      at the Dividend Rate, calculated on the basis of a 360-day year

                                       30
<PAGE>

      of twelve 30-day months. If the last day of March, June, September and
      December of any year is not a Business Day, then the relevant [Class B]
      Dividend Payment Date shall be the next succeeding Business Day (without
      any accrual of interest or other payment to such next succeeding Business
      Day); provided that if such Business Day is in the next succeeding
      calendar year, then the relevant [Class B] Dividend Payment Date shall be
      the immediately preceding Business Day (without any reduction in interest
      or other amounts in respect of such early payment).

            (iii) Each declared dividend shall be payable to the Holders of
      record of the [Class B] Preferred Securities as they appear on the
      securities register of the Company at the close of business on the
      corresponding record date. The record dates for the [Class B] Preferred
      Securities shall be (A) for as long as either (I) the [Class B] Preferred
      Securities are in book-entry form or (II) the Trust is the Securityholder
      of the [Class B] Preferred Securities and the Trust Preferred Securities
      remain in book-entry form, one Business Day prior to the relevant [Class
      B] Dividend Payment Date and (B) in the event that neither the [Class B]
      Preferred Securities nor, if the Trust is the Securityholder of the [Class
      B] Preferred Securities the Trust Preferred Securities, are in book-entry
      form, the 15th day of the month in which the relevant [Class B] Dividend
      Payment Date occurs (without regard to Section 10.04(b)(ii) hereof).

            (iv) The right of [Class B] Preferred Securityholders to receive
      dividends is noncumulative. Accordingly, if the Board of Directors does
      not declare a dividend in respect of any [Class B] Dividend Period, [Class
      B] Preferred Securityholders shall have no right to receive a dividend in
      respect of such [Class B] Dividend Period, and the Company shall have no
      obligation to pay a dividend in respect of such [Class B] Dividend Period,
      whether or not dividends are declared payable in respect of any future
      [Class B] Dividend Period.

            (v) If any [Class B] Preferred Securities are outstanding, no
      dividends or other distributions shall be declared or paid or set apart
      for payment on any Common Securities for any [Class B] Dividend Period
      unless all dividends, if any, in respect of the relevant [Class B]
      Dividend Period have been declared, at the Dividend Rate, and paid in
      full.

            (vi) The declaration of dividends on the [Class B] Preferred
      Securities shall not be authorized in respect of any [Class B] Dividend
      Period to the extent that:

                  (A) in accordance with applicable Netherlands banking
            regulations, the Guarantor would be limited in making dividends or
            other payments on its Parity Preferred Shares; or

                                       31
<PAGE>

                  (B) (I) the Guarantor has not made or declared any dividend or
            other payment for the most recent dividend period for which the
            determination has been made on the Parity Preferred Shares or under
            the Parity Guarantees and (II) any subsidiary of the Guarantor has
            neither made nor declared any dividend or other payment for the most
            recent dividend period for which the determination has been made on
            any Parity Subsidiary Securities.

            (vii) Notwithstanding clause (vi), the Board of Directors shall be
      authorized to declare dividends at the Dividend Rate in full on the [Class
      B] Preferred Securities on:

                  (x) the four consecutive [Class B] Dividend Payment Dates
            contemporaneous with and/or immediately following the date on which
            the Guarantor or any of its subsidiaries (I) declares or makes a
            dividend or other payment on the Ordinary Shares that pay dividends
            annually, or (II) redeems, repurchases or otherwise acquires any
            Ordinary Shares or any Parity Securities (other than (A) in
            connection with transactions effected by or for the account of
            customers of the Guarantor or any of its subsidiaries or in
            connection with the distribution, trading or market-making in
            respect of such securities, (B) in connection with the satisfaction
            by the Guarantor or any of its subsidiaries of its obligations
            under any employee benefit plans or similar arrangements with or
            for the benefit of employees, officers, directors or consultants,
            (C) as a result of a reclassification of the capital stock of the
            Guarantor or any of its subsidiaries or the exchange or conversion
            of one class or series of such capital stock for another class or
            series of such capital stock or (D) the purchase of fractional
            interests in shares of the capital stock of the Guarantor or any of
            its subsidiaries pursuant to the conversion or exchange provisions
            of such capital stock or the security being converted or exchanged)
            for any consideration (or any moneys are paid to or made available
            for a sinking fund or for redemption of such securities) (except by
            conversion into or in exchange for Ordinary Shares),

                  (y) the two consecutive [Class B] Dividend Payment Dates
            contemporaneous with and/or immediately following the date on which
            a dividend or other payment is declared or made on the Ordinary
            Shares that pay dividends semi-annually, if any, or

                  (z) the next [Class B] Dividend Payment Date that is either
            contemporaneous with, or immediately following the date on which a
            dividend or other payment is declared or made on the Ordinary Shares
            that pay dividends quarterly, if any.

                                       32
<PAGE>

            (viii) Notwithstanding clause (vi), the Board of Directors shall be
      authorized to declare dividends on a pro rata basis on the [Class B]
      Preferred Securities on:

                  (x) the four consecutive [Class B] Dividend Payment Dates
            contemporaneous with and/or immediately following the date on which
            a dividend or other payment is declared or made on the Parity
            Securities that pay dividends annually, if any,

                  (y) the two consecutive [Class B] Dividend Payment Dates
            contemporaneous with and/or immediately following the date on which
            a dividend or other payment is declared or made on the Parity
            Securities that pay dividends semi-annually, if any, or

                  (z) the next [Class B] Dividend Payment Date that is either
            contemporaneous with, or immediately following, the date on which a
            dividend or other payment is declared or made on the Parity
            Securities that pay dividends quarterly, if any.

            (ix) Notwithstanding any other provision of this Agreement or the
      Delaware Act, if the Board of Directors does not declare dividends on the
      [Class B] Preferred Securities, when, and to the extent authorized under
      clauses (vii) or (viii) above, then such dividends on the [Class B]
      Preferred Securities shall be deemed declared to the extent authorized,
      and the [Class B] Preferred Securityholders shall be entitled to receive
      such dividends without any further act, vote or approval of the Board of
      Directors, any Securityholder or any other Person.

            (x) The declaration and payment of dividends on the [Class A]
      Preferred Securities shall not be a condition to the declaration and
      payment of dividends on the [Class B] Preferred Securities.

      (c) Payments of Additional Amounts. All payments in respect of the [Class
B] Preferred Securities by the Company shall be made without withholding or
deduction for or on account of any Relevant Tax, unless the withholding or
deduction of such Relevant Tax is required by law. In that event, the Company
shall pay, as further dividends, such additional amounts as may be necessary in
order that the net amounts received by the [Class B] Preferred Securityholders
after such withholding or deduction will equal the amount which would have been
received in respect of the [Class B] Preferred Securities in the absence of such
withholding or deduction (the "Additional Amounts"), except that no Additional
Amounts are payable to a [Class B] Preferred Securityholder (or to a third party
on such [Class B] Preferred Securityholder's behalf) with respect to any [Class
B] Preferred Securities (i) to the extent that such Relevant Tax is imposed or
levied by virtue of such [Class B] Preferred Securityholder (or the beneficial
owner of such [Class B] Preferred Securities) having some connection with the
Relevant

                                       33
<PAGE>

Jurisdiction, other than being a [Class B] Preferred Securityholder (or
beneficial owner) of such [Class B] Preferred Securities, (ii) to the extent
that such Tax is imposed or levied by virtue of such [Class B] Preferred
Securityholder (or beneficial owner) not having made a declaration of
non-residence in, or other lack of connection with, the Relevant Jurisdiction or
any similar claim for exemption, if the Guarantor or its agent has provided the
beneficial owner of such [Class B] Preferred Security or its nominee with at
least 60 days' prior written notice of an opportunity to make such a declaration
or claim, or (iii) where such withholding or deduction is imposed on a payment
to an individual and is required to be made pursuant to any European Union
Directive on the taxation of savings implementing the conclusions of the ECOFIN
Council meeting of 26-27 November 2000 or any law implementing or complying
with, or introduced in order to conform to, [or substantially similar to] such
Directive.

      (d) Redemption Terms. (i) The [Class B] Preferred Securities shall be
redeemable at the option of the Company, in whole or in part, as set forth in
the [Class B] Securities Certificates.

            (ii) If fewer than all the outstanding [Class B] Preferred
      Securities are to be redeemed, then the number of [Class B] Preferred
      Securities to be redeemed shall be determined by the Board of Directors,
      and the securities to be redeemed shall be determined by lot or pro rata
      as may be determined by the Board of Directors in its sole discretion to
      be equitable, provided, that such method satisfies any applicable
      requirements of any securities exchange on which the [Class B] Preferred
      Securities or any Trust Preferred Securities may then be listed and, if
      the [Class B] Preferred Securities or Trust Preferred Securities are then
      held by DTC or its nominee in the form of a global security, any
      applicable requirements of DTC. The Company shall promptly notify the
      Registrar and Transfer Agent for the [Class B] Preferred Securities in
      writing of the [Class B] Preferred Securities selected for partial
      redemption and, in the case of any [Class B] Preferred Securities selected
      for partial redemption, the liquidation preference thereof to be redeemed.

            (iii) The Company shall have the right, upon the occurrence of a
      Special Redemption Event, to redeem the [Class B] Preferred Securities, in
      whole (but not in part), at any time, at the Redemption Price.

            (iv) In the event that payment of the Redemption Price in respect of
      any [Class B] Preferred Securities is improperly withheld or refused and
      not paid either by the Company or by the Guarantor pursuant to the [Class
      B] Guarantee, dividends on such [Class B] Preferred Securities, shall
      continue to accumulate from the date fixed for redemption to the date of
      actual payment of such Redemption Price.

                                       34
<PAGE>

      Any redemption of [Class B] Preferred Securities, whether at the option of
the Company or upon the occurrence of a Special Redemption Event, shall not
require the vote or consent of any of the [Class B] Preferred Securityholders
and may be effected only with the prior approval of the Guarantor and the Dutch
Central Bank, if required.

      (e) Redemption Procedures. (i) Notice of any redemption of [Class B]
Preferred Securities (a "Redemption Notice") will be given by the Board of
Directors on behalf of the Company by mail to each [Class B] Preferred
Securityholder to be redeemed not fewer than 30 nor more than 60 days before the
date fixed for redemption. For purposes of the calculation of the date of
redemption and the dates on which notices are given pursuant to this Section
10.04(e), a Redemption Notice shall be deemed to be given on the day such notice
is first mailed, by first-class mail, postage prepaid, to [Class B] Preferred
Securityholders. Each Redemption Notice shall be addressed to the [Class B]
Preferred Securityholders at the address of each such Holder appearing in the
books and records of the Company. No defect in the Redemption Notice or in the
mailing thereof with respect to any Holder shall affect the validity of the
redemption proceedings with respect to any other Holder.

            (ii) If the Company gives a Redemption Notice (which notice will be
      irrevocable), then by 12:00 noon, New York City time, on the redemption
      date, the Board of Directors on behalf of the Company (A) if the [Class B]
      Preferred Securities are in book-entry only form with DTC, will deposit
      irrevocably with DTC funds sufficient to pay the applicable Redemption
      Price and will give DTC irrevocable instructions and authority to pay the
      Redemption Price in respect of the [Class B] Preferred Securities held
      through DTC in global form or (B) if the [Class B] Preferred Securities
      are held in certificated form, will deposit with the Paying Agent, funds
      sufficient to pay the applicable Redemption Price of the amount of any
      such [Class B] Preferred Securities and will give to the Paying Agent
      irrevocable instructions and authority to pay such amounts to the [Class
      B] Preferred Securityholders, upon surrender of their certificates, by
      check, mailed to the address of the relevant [Class B] Preferred
      Securityholder appearing on the books and records of the Company on the
      redemption date; provided, however, that for so long as the Trust or the
      Property Trustee of the Trust shall hold the [Class B] Preferred
      Securities, payment of cash shall be made by wire in same day funds to the
      [Class B] Preferred Securityholder by 12:00 noon, New York City time, on
      the redemption date. Upon satisfaction of the foregoing conditions, then
      immediately prior to the close of business on the date of such deposit or
      payment, all rights of [Class B] Preferred Securityholders so called for
      redemption will cease, except the right of the Holders to receive the
      Redemption Price, but without interest on such Redemption Price, and from
      and after the date fixed for redemption, such [Class B] Preferred
      Securities will not accumulate dividends or bear interest.

                                       35
<PAGE>

      In the event that any date fixed for redemption of [Class B] Preferred
Securities is not a Business Day, then payment of the Redemption Price payable
on such date will be made on the next succeeding Business Day (without any
accrual of interest or other payment to such next succeeding Business Day),
except that, if such Business Day falls in the next calendar year, such payment
will be made on the immediately preceding Business Day (without any reduction in
interest or other amounts in respect of any such early payment).

      (f) Liquidation Terms. In the event of any voluntary or involuntary
liquidation, dissolution or winding up of the Company, the [Class B] Preferred
Securityholders at the time outstanding shall, subject to the limitations
described herein, be entitled to receive the liquidation preference of $[__] per
[Class B] Preferred Security, plus, in each case, accumulated and unpaid
dividends for the then current [Class B] Dividend Period to the date of the
final distribution of assets of the Company, in respect of each [Class B]
Preferred Security held out of the assets of the Company available for
distribution to Securityholders. Such entitlement shall arise following the
liquidation distribution of Intercompany Securities to the [Class A] Preferred
Securityholders, and before any distribution of assets is made to Common
Securityholders. In addition, the Guarantee Independent Director shall enforce
the Contingent Guarantee on behalf of the Company solely for the benefit of the
[Class B] Preferred Securityholders and, solely with respect to the Contingent
Distribution, the [Class B] Preferred Securities shall rank senior to the [Class
A] Preferred Securities.

      (g) [Class B] Guarantee. To the extent set forth in the [Class B]
Guarantee, the Guarantor has agreed to pay to the [Class B] Preferred
Securityholders, as and when due, the Guarantee Payments (as defined in Section
5.01 of the [Class B] Guarantee). As set forth in the [Class B] Guarantee, the
obligations of the Guarantor under the [Class B] Guarantee shall be several and
independent of the Company's obligations hereunder. The [Class B] Preferred
Securityholders, by acceptance of such [Class B] Preferred Securities,
acknowledge and agree to the subordination provisions in, and other terms of,
the [Class B] Guarantee.

      (h) Contingent Guarantee. To the extent set forth in the Contingent
Guarantee, the Guarantor has agreed to pay to the Company, as and when due, the
Contingent Guarantee Payments (as defined in Section 2.01 of the Contingent
Guarantee). The Contingent Guarantee may not be enforced by anyone other than
the Guarantee Independent Director, appointed pursuant to and under the
circumstances set forth in Section 10.04(i)(iii), acting alone and without the
requirement for a vote or consent of the other members of the Board of
Directors. The Guarantee Independent Director may not enforce the Contingent
Guarantee unless a claim has been made by the Guarantee Trustee or a [Class B]
Preferred Securityholder under the [Class B] Guarantee or by the Guarantee
Trustee or a Holder of Trust Securities under the Trust Guarantee and any such
claim remains unpaid for 180 days or more. The Guarantee Independent Director
shall enforce

                                       36
<PAGE>

the claim of the Company under the Contingent Guarantee without prejudice to the
claims of the Guarantee Trustee or the [Class B] Preferred Securityholders under
the [Class B] Guarantee or of the Guarantee Trustee or the Holders of Trust
Securities under the Trust Guarantee.

      Upon receipt by the Company of payments from the Guarantor in respect of
any claim under the Contingent Guarantee ("Contingent Distribution"), such
payments shall be held by the Company separately from all its other assets, as a
trust for the sole benefit of the [Class B] Preferred Securityholders, and the
Guarantee Independent Director shall, acting alone and without the requirement
for a vote or consent of the other members of the Board of Directors, have the
sole power to cause the Company to distribute the Contingent Distribution pro
rata to the Holders of record of [Class B] Preferred Securities, as determined
in accordance with Section 10.04(b)(iii), except to the extent any such Holders
received payments of a related claim under the [Class B] Guarantee or the Trust
Guarantee.

      (i) Voting Rights. (i) Except as expressly required by applicable law, or
except as indicated below, the [Class B] Preferred Securityholders shall not be
entitled to vote. In the event the [Class B] Preferred Securityholders are
entitled to vote as indicated below, each [Class B] Preferred Security shall be
entitled to one vote on matters on which holders of the [Class B] Preferred
Securities are entitled to vote.

            (ii) If for four consecutive [Class B] Dividend Periods or any six
      [Class B] Dividend Periods, dividends on the [Class B] Preferred
      Securities and any Additional Amounts in respect of such dividends have
      not been paid at the Dividend Rate in full by the Company or by the
      Guarantor under the [Class B] Guarantee or the Trust Guarantee, the [Class
      B] Preferred Securityholders shall be entitled to appoint two Independent
      Directors to the Board of Directors. Such Independent Directors shall be
      elected by ordinary resolution passed by a majority of the [Class B]
      Preferred Securityholders entitled to vote thereon, as determined in
      accordance with Section 11.01, present in person or by proxy at a separate
      general meeting of such [Class B] Preferred Securityholders convened for
      that purpose (which shall be called at the request of any [Class B]
      Preferred Securityholder entitled to vote thereon). Any Independent
      Director so appointed shall vacate office if, in such Independent
      Director's sole determination, dividends on the [Class B] Preferred
      Securities have been paid regularly at the Dividend Rate in full by the
      Company or the Guarantor under the [Class B] Guarantee or the Trust
      Guarantee for one calendar year and all other amounts due under the [Class
      B] Guarantee, the Trust Guarantee and the Contingent Guarantee have been
      paid. Any such Independent Director may be removed with or without cause
      by, and shall not be removed except by, the vote of a majority of the
      outstanding [Class B] Preferred Securities entitled to vote,

                                       37
<PAGE>

      at a meeting of the Company's Securityholders or of the [Class B]
      Preferred Securityholders entitled to vote thereon, called for that
      purpose.

            (iii) Upon occurrence of the non-payment within one day following
      the making of a claim under the [Class B] Guarantee by the Guarantee
      Trustee or a [Class B] Preferred Securityholder or under the Trust
      Guarantee by the Guarantee Trustee or a Holder of Trust Securities, the
      [Class B] Preferred Securityholders shall be entitled to appoint one
      independent director (the "Guarantee Independent Director"). The Guarantee
      Independent Director shall be elected by ordinary resolution passed by a
      majority of the [Class B] Preferred Securityholders entitled to vote
      thereon, as determined in accordance with Section 11.01, present in person
      or by proxy at a separate general meeting of such [Class B] Preferred
      Securityholders convened for that purpose (which shall be called at the
      request of any [Class B] Preferred Securityholder entitled to vote
      thereon). Any Guarantee Independent Director so appointed shall vacate
      office if, in such Guarantee Independent Director's sole determination,
      the dividends on the [Class B] Preferred Securities have been paid
      regularly at the Dividend Rate in full by the Company or the Guarantor
      under the [Class B] Guarantee or the Trust Guarantee for one calendar year
      and all other amounts due under the [Class B] Guarantee, the Trust
      Guarantee and the Contingent Guarantee have been paid. Any such Guarantee
      Independent Director may be removed by, and shall not be removed except
      by, the vote of a majority of the outstanding [Class B] Preferred
      Securities entitled to vote, at a meeting of the Company's
      Securityholders, or of the [Class B] Preferred Securityholders entitled to
      vote thereon, called for that purpose.

      (j) Listing. If either (i) the Initial Purchaser of the [Class B]
Preferred Securities is not the Trust, or (ii) the Initial Purchaser of the
[Class B] Preferred Securities is the Trust and such [Class B] Preferred
Securities are distributed to Holders of Trust Preferred Securities in
connection with the involuntary or voluntary dissolution, winding-up or
liquidation of the Trust, then the Company shall use its commercially reasonable
efforts to cause the [Class B] Preferred Securities to be listed on the [New
York Stock Exchange], the [Luxembourg Stock Exchange] or, in the event of (ii)
hereof, on such other national securities exchange or similar organization as
the Trust Preferred Securities are then listed or quoted on.

                                   ARTICLE 11
                               VOTING AND MEETINGS

      Section 11.01. Voting Rights of Preferred Securityholders. (a) Except as
shall be otherwise expressly provided herein, in the By-Laws or as otherwise
required by the Delaware Act, the Preferred Securityholders shall have no right
or

                                       38
<PAGE>

power to vote on any question or matter or in any proceeding or to be
represented at, or to receive notice of, any meeting of Securityholders.

      (b) Notwithstanding that Securityholders holding Preferred Securities are
entitled to vote or consent under any of the circumstances described in this
Agreement or in the By-Laws, any of the Preferred Securities that are owned by
the Guarantor or any Affiliate of the Guarantor, either directly or indirectly,
shall not be entitled to vote or consent and shall, for the purposes of such
vote or consent, be treated as if they were not outstanding, except for
Preferred Securities purchased or acquired by the Guarantor or its Affiliates in
connection with transactions effected by or for the account of customers of the
Guarantor or any of its Affiliates or in connection with the distribution or
trading of or market-making in connection with such Preferred Securities;
provided, however, that Persons (other than Affiliates of the Guarantor) to whom
the Guarantor or any of its Affiliates have pledged Preferred Securities may
vote or consent with respect to such pledged Preferred Securities pursuant to
the terms of such pledge.

      Section 11.02. Voting Rights of Common Securityholders. Except as
otherwise provided herein, and except as otherwise provided by the Delaware Act,
all voting rights of the Securityholders shall be vested exclusively in the
Common Securityholders. The Common Securityholders shall be entitled to one vote
per Common Security upon all matters upon which Common Securityholders have the
right to vote. All Common Securityholders shall have the right to vote
separately as a class on any matter on which the Common Securityholders have the
right to vote, regardless of the voting rights of any other Securityholder.

      Section 11.03. Meetings of the Securityholders. Meetings of the
Securityholders of any class or of all classes of Securities may be called at
any time by the Board of Directors as provided by this Agreement or the By-Laws.
Except to the extent otherwise provided, the following provisions shall apply to
meetings of Securityholders:

      (a) Securityholders may vote in person or by proxy at such meeting.
Whenever a vote, consent or approval of Securityholders is permitted or required
under this Agreement, such vote, consent or approval may be given at a meeting
of Securityholders or by written consent;

      (b) Each Securityholder may authorize any Person to act for it by proxy on
all matters in which a Securityholder is entitled to participate, including
waiving notice of any meeting, or voting or participating at a meeting. Every
proxy must be signed by the Securityholder or its attorney in fact. Every proxy
shall be revocable at the pleasure of the Securityholder executing it at any
time before it is voted;

      (c) Each meeting of Securityholders shall be conducted by the Board of
Directors or by such other Person that the Board of Directors may designate;

                                       39
<PAGE>

      (d) Any required approval of Preferred Securityholders may be given at a
separate meeting of such Preferred Securityholders convened for such purpose or
at a meeting of Securityholders of the Company or pursuant to written consent.
The Board of Directors shall cause a notice of any meeting at which Preferred
Securityholders holding Preferred Securities are entitled to vote pursuant to
Section 10.04 or of any matter upon which action may be taken by written consent
of such Preferred Securityholders, to be mailed to each holder of record of the
Preferred Securities. Each such notice shall include a statement setting forth
(i) the date of such meeting or the date by which such action is to be taken,
(ii) a description of any action proposed to be taken at such meeting on which
such Preferred Securityholders are entitled to vote or of such matters upon
which written consent is sought and (iii) instructions for the delivery of
proxies or consents; and

      (e) Subject to Section 11.03(d) of this Agreement, the Board of Directors,
in their sole discretion, shall establish all other provisions relating to
meetings of Securityholders, including notice of the time, place or purpose of
any meeting at which any matter is to be voted on by any Securityholders, waiver
of any such notice, action by consent without a meeting, the establishment of a
record date, quorum requirements, voting in person or by proxy or any other
matter with respect to the exercise of any such right to vote.

                                   ARTICLE 12
                                    DIVIDENDS

      Section 12.01. Dividends. (a) Subject to the terms of this Article 12,
Preferred Securityholders shall receive dividends or other distributions, if
any, in accordance with Article 10 of this Agreement only when, as and if
declared by the Board of Directors, if authorized under Section 10.04(b), or
deemed declared under Section 10.04(b)(ix), and Common Securityholders shall
receive periodic dividends and distributions, subject to Article 10 of this
Agreement and to the provisions of the Delaware Act, when, as and if declared by
the Board of Directors, in its discretion. A dividend shall constitute a
distribution within the meaning of the Delaware Act.

      (b) A Securityholder shall not be entitled to receive any dividend or
other distribution with respect to any dividend payment date (and any such
dividend or other distribution shall not be considered due and payable),
irrespective of whether such dividend or other distribution has been declared by
the Directors, until such time as the Company shall have funds legally available
for the payment of such dividend to such Securityholder pursuant to the terms of
this Agreement and the Delaware Act, and notwithstanding any provision of
Section 18-606 of the Delaware Act to the contrary, until such time, a
Securityholder shall not have the status of a creditor of the Company, or the
remedies available to a creditor of the Company; provided, however, that a
[Class

                                       40
<PAGE>

B] Preferred Securityholder and a Holder may exercise such rights or remedies as
provided herein or in any other agreement or document.

      Section 12.02. Limitations on Distributions. Notwithstanding any provision
to the contrary contained in this Agreement, the Company shall not make a
distribution (including a dividend) to any Securityholder on account of its
Security if such distribution would violate Section 18-607 of the Delaware Act
or other applicable law. No dividends shall be declared and paid on the Common
Securities unless all dividends on the [Class B] Preferred Securities, if any,
whether declared or deemed declared, have been paid in full at the Dividend
Rate.

                                   ARTICLE 13
                               BOARDS AND RECORDS

      Section 13.01. Financial Statements. The Board of Directors shall, as soon
as practicable after the end of each Fiscal Year, cause to be prepared and
mailed to each Preferred Securityholder and each Common Securityholder of record
the audited financial statements of the Company for such Fiscal Year prepared in
accordance with U.S. generally accepted accounting principles.

      Section 13.02. Limitation on Access to Records. Notwithstanding any
provision of this Agreement, the Board of Directors may, to the maximum extent
permitted by law, keep, or cause to be kept, confidential from the Preferred
Securityholders, for such period of time as the Board of Directors deems
reasonable, any information the disclosure of which the Board of Directors
reasonably believes to be in the nature of trade secrets or other information
the disclosure of which the Board of Directors in good faith reasonably believes
is not in the best interest of the Company or could damage the Company or its
business or which the Company or the Board of Directors is required by law or by
an agreement with any Person to keep confidential.

      Section 13.03. Accounting Method. For both financial and tax reporting
purposes and for purposes of determining profits and losses, the books and
records of the Company shall be kept on the accrual method of accounting applied
in a consistent manner and shall reflect all Company transactions and be
appropriate and adequate for the Company's business.

      Section 13.04. Annual Audit. As soon as practicable after the end of each
Fiscal Year, but not later than 90 days after such end, the financial statements
of the Company shall be audited by a firm of independent certified public
accountants selected by the Board of Directors, and such financial statements
shall be accompanied by a report of such accountants containing their opinion.
The cost of such audits shall be an expense of the Common Securityholder and
paid by the Common Securityholder.

                                       41
<PAGE>

                                   ARTICLE 14
                                   TAX MATTERS

      Section 14.01. Company Tax Returns. (a) [__] is hereby designated as the
Company's "Tax Matters Partner" under Section 6231(a)(7) of the Code and shall
have all the powers and responsibilities of such position as provided in the
Code. The Tax Matters Partner is specifically directed and authorized to take
whatever steps the Tax Matters Partner, in its discretion, deems necessary or
desirable to perfect such designation, including filing any forms or documents
with the Internal Revenue Service and taking such other action as may from time
to time be required under the Treasury Regulations. Expenses incurred by the Tax
Matters Partner in its capacity as such shall be borne by the Company.

      (b) The Tax Matters Partner shall cause to be prepared and timely filed
all tax returns required to be filed by the Company. The Tax Matters Partner
may, in its discretion, cause the Company to make or refrain from making any
federal, state or local income or other tax elections for the Company that it
deems necessary or advisable, including, without limitation, any election under
Section 754 of the Code or any successor provision.

      Section 14.02. Tax Reports. The Tax Matters Partner shall, as promptly as
practicable and in any event within 90 days of the end of each Fiscal Year,
cause to be prepared and mailed by the Company to each Preferred Securityholder
of record Internal Revenue Service Schedule K-1 and any other forms that are
necessary or advisable in order to permit the Securityholders to comply with
U.S. federal and any other income tax requirements.

      Section 14.03. Taxation as a Partnership. The Company shall take any
necessary steps to be treated as a partnership for U.S. federal income tax
purposes and shall not file any election to be treated as anything other than a
partnership for such purposes.

      Section 14.04. Taxation of Securityholders. As provided in Section
7.04(b), gross income shall be allocated to the Preferred Securityholders on a
daily accrual basis. The Securityholders intend that allocations of income and
loss for U.S. federal income tax purposes be consistent with the economic
allocations of income under this Agreement.

                                   ARTICLE 15
                                    EXPENSES

      Section 15.01. Expenses. Pursuant to the Services Agreement, the Common
Securityholder shall be responsible for, and shall pay, all expenses of the
Company, including, without limitation:

                                       42
<PAGE>

      (a) all costs and expenses related to the business of the Company and all
routine administrative expenses of the Company, including the maintenance of
books and records of the Company, the preparation and dispatch to the
Securityholders of checks, financial reports, tax returns and notices required
pursuant to this Agreement and the holding of any meetings of the
Securityholders;

      (b) all expenses incurred in connection with any litigation involving the
Company (including the cost of any investigation and preparation) and the amount
of any judgment or settlement paid in connection therewith (other than expenses
incurred by any Director in connection with any litigation brought by or on
behalf of any Securityholder against such Director);

      (c) all expenses for indemnity or contribution payable by the Company to
any Person;

      (d) all expenses incurred in connection with the collection of amounts due
to the Company from any Person;

      (e) all expenses incurred in connection with the preparation of amendments
or restatements to this Agreement; and

      (f) all expenses incurred in connection with the liquidation, dissolution,
winding up or termination of the Company.

                                   ARTICLE 16
         TRANSFERS OF SECURITIES BY SECURITYHOLDERS AND RELATED MATTERS

      Section 16.01. Right of Assignee to Become a [Class B] Preferred
Securityholder. An assignee shall become a [Class B] Preferred Securityholder
upon compliance with the provisions of Section 16.05 of this Agreement.

      Section 16.02. Events of Cessation of Security Ownership. A Person shall
cease to be a Securityholder upon the lawful assignment of all of its Securities
(including any redemption or other repurchase by the Company) or as otherwise
provided herein.

      Section 16.03. Persons Deemed [Class B] Preferred Securityholders. The
Company may treat the Person in whose name any [Class B] Preferred Securities
Certificate shall be registered on the books and records of the Company as the
sole holder of such [Class B] Preferred Securities Certificate and of the [Class
B] Preferred Securities represented by such [Class B] Preferred Securities
Certificate for purposes of receiving dividends or other distributions and for
all other purposes whatsoever and, accordingly, shall not be bound to recognize
any equitable or other claim to or interest in such [Class B] Preferred
Securities

                                       43
<PAGE>

Certificate or in the [Class B] Preferred Securities represented by such [Class
B] Preferred Securities Certificate on the part of any other Person, whether or
not the Company shall have actual or other notice thereof. Notwithstanding the
foregoing or anything to the contrary herein, the Company agrees that at any
time that the Trust shall be a holder of any [Class B] Preferred Securities,
each holder of a preferred certificate issued by the Trust shall, upon
presentation to the Company or the Registrar of reasonable evidence thereof,
have the right to the fullest extent permitted by law and without the need for
any other action of any other person, including the trustee under the Trust and
any other holder of any other of such preferred certificates, to enforce in the
name of the Trust the Trust's rights under the [Class B] Preferred Securities
represented by the preferred certificates of such holder.

      Section 16.04. The [Class B] Preferred Certificates. (a) The [Class B]
Preferred Certificates shall be issued in minimum denominations of $[__]
liquidation preference and integral multiples thereof. Each [Class B] Preferred
Certificate shall be signed, manually, by the President, any Vice President or
the Secretary of the Company. [Class B] Preferred Certificates bearing the
signatures of individuals who were, at the time when such signatures shall have
been affixed, authorized to sign on behalf of the Company shall be validly
issued notwithstanding that such individuals or any of them shall have ceased to
be so authorized prior to the delivery of such [Class B] Preferred Certificates
or did not hold such offices at the date of delivery of such [Class B] Preferred
Certificates. A transferee of a [Class B] Preferred Certificate shall become a
Securityholder upon due registration of such [Class B] Preferred Certificate in
such transferee's name pursuant to Section 16.05.

      (b) (i) If the Initial Purchaser is not the Trust, the Company shall cause
the [Class B] Preferred Securities to be issued in one or more global
certificates pursuant to Section 16.07 and registered pursuant to Section 16.05
in the name of DTC, as depositary, or its nominee.

      (ii) If the Initial Purchaser is a Trust, the Company shall only issue
definitive [Class B] Preferred Certificates to the [Class B] Preferred
Securityholders unless and until the Company issues a global [Class B] Preferred
Certificate pursuant to Section 16.07. If the [Class B] Preferred Securities are
distributed to Holders of the Trust Preferred Securities in book-entry form in
connection with the dissolution, winding up, termination or liquidation of the
Trust, the Company shall cause the [Class B] Preferred Securities to be issued
in one or more global certificates pursuant to Section 16.07 and registered
pursuant to Section 16.05 in the name of DTC, as depositary, or its nominee.

      Section 16.05. Transfer of [Class B] Preferred Certificates. (a) The Board
of Directors shall provide for the registration of [Class B] Preferred
Certificates and of transfers of [Class B] Preferred Certificates in a record
thereof (the "Securities Register") and shall appoint a securities registrar
(the

                                       44
<PAGE>

"Registrar") and transfer agent (the "Transfer Agent") to act on its behalf;
provided, however, that without any action on the part of the Board of Directors
being necessary, the Manager Trustee is hereby appointed as the initial
Registrar and Transfer Agent. Subject to the other provisions of this Article
16, upon surrender for registration of transfer of any [Class B] Preferred
Certificate, the Board of Directors shall cause one or more new [Class B]
Preferred Certificates to be issued in the name of the designated transferee or
transferees. Every [Class B] Preferred Certificate surrendered for registration
of transfer shall be accompanied by a written instrument of transfer in form
satisfactory to the Board of Directors duly executed by the [Class B] Preferred
Securityholder or his or her attorney duly authorized in writing. Any
registration of transfer shall be effected upon the Transfer Agent being
satisfied with the documents of title and identity of the person making the
request, upon the receipt by the transfer agent of any applicable certificate
relating to transfer restrictions as described below, and subject to such
reasonable regulations as the Company may from time to time establish. Each
[Class B] Preferred Certificate surrendered for registration of transfer shall
be canceled by the Board of Directors. A transferee of a [Class B] Preferred
Securities Certificate shall be admitted to the Company as a [Class B] Preferred
Securityholder and shall be entitled to the rights and subject to the
obligations of a [Class B] Preferred Securityholder hereunder upon receipt by
such transferee of a [Class B] Preferred Certificate. By acceptance of a [Class
B] Preferred Certificate, each transferee shall be bound by this Agreement. The
transferor of a [Class B] Preferred Certificate, in whole, shall cease to be a
[Class B] Preferred Securityholder at the time that the transferee of such
[Class B] Preferred Certificate is admitted to the Company as a [Class B]
Preferred Securityholder in accordance with this Section 16.05.

      (b) Upon surrender for registration of transfer of any [Class B] Preferred
Certificate at the office or agency of the Company or the Registrar maintained
for that purpose (the "Administrator") the Company shall deliver or cause to be
delivered to the Registrar in a form duly executed on behalf of the Company in
the manner provided for in Section 16.05 and the Registrar shall countersign in
the manner provided in and to the extent required by Section 16.05 and deliver,
in the name of the designated transferee or transferees, one or more new [Class
B] Preferred Certificates in authorized denominations of a like aggregate
liquidation amount dated the date of execution by such Administrator.

      The Registrar shall not be required (i) to issue, register the transfer of
or exchange any [Class B] Preferred Security during a period beginning at the
opening of business 15 days before the day of selection for redemption of such
[Class B] Preferred Security and ending at the close of business on the day of
mailing of the notice of redemption, or (ii) to register the transfer of or
exchange any [Class B] Preferred Security so selected for redemption in whole or
in part, except, in the case of any such [Class B] Preferred Security to be
redeemed in part, any portion thereof not to be redeemed.

                                       45
<PAGE>

      No service charge shall be made for any registration of transfer or
exchange of [Class B] Preferred Certificates, but the Registrar may require
payment of a sum sufficient to cover any tax or governmental charge that may be
imposed in connection with any transfer or exchange of [Class B] Preferred
Certificates.

      Section 16.06. Mutilated, Destroyed, Lost or Stolen [Class B] Preferred
Certificates. If (a) any mutilated [Class B] Preferred Certificate shall be
surrendered to the Registrar, or if the Registrar shall receive evidence to its
satisfaction of the destruction, loss or theft of any [Class B] Preferred
Certificate, and (b) there shall be delivered to the Registrar and the Company
such security or indemnity as may be required by them to save each of them
harmless, then in the absence of notice that such [Class B] Preferred
Certificate shall have been acquired by a bona fide purchaser, the Company shall
sign, the Registrar shall countersign to the extent required under Section
16.04, and the Company and the Registrar shall make available for delivery (all
in the manner provided for in Section 16.04), in exchange for or in lieu of any
mutilated, destroyed, lost or stolen [Class B] Preferred Certificate, a new
[Class B] Preferred Certificate of like class, tenor and denomination. In
connection with the issuance of any new [Class B] Preferred Certificate under
this Section 16.06, the Company or the Registrar may require the payment of a
sum sufficient to cover any tax or other governmental charge that may be imposed
in connection therewith. Any duplicate [Class B] Preferred Certificate issued
pursuant to this Section shall constitute conclusive evidence of a limited
liability company interest in the Company corresponding to that evidenced by the
lost, stolen or destroyed [Class B] Preferred Certificate, as if originally
issued, whether or not the lost, stolen or destroyed [Class B] Preferred
Certificate shall be found at any time.

      Section 16.07. Book-entry Provisions.

      (a) General. The provisions of this Section 16.07 shall apply only upon
where Section 16.04(b) specifies that the [Class B] Preferred Securities shall
be issued in book-entry form. In that event, a global [Class B] Preferred
Certificate representing the Book-Entry Interests shall be delivered to DTC, the
initial clearing agency, by or on behalf of the Company. The global [Class B]
Preferred Certificate shall initially be registered on the books and records of
the Company in the name of Cede & Co., the nominee of DTC. In the event such
global [Class B] Certificate is issued following an event as specified in
Section 16.04(b)(ii), any previously issued and still outstanding definitive
[Class B] Preferred Certificates shall be of no further force and effect and no
[Class B] Preferred Securityholder will receive a new definitive [Class B]
Preferred Certificate representing such Holder's interests in such [Class B]
Preferred Certificate, except as provided in Section 16.07(c). In connection
with the involuntary or voluntary dissolution, winding-up, termination or
liquidation of the Trust, Cede & Co., the nominee of DTC, shall automatically be
admitted to the Company as a [Class B] Preferred Securityholder. Receipt of the
global [Class B] Preferred Certificate shall be

                                       46
<PAGE>

deemed to constitute a request by Cede & Co., the nominee of DTC, that the books
and records of the Company reflect its admission as a [Class B] Preferred
Securityholder. Unless and until new definitive, fully registered [Class B]
Preferred Certificates have been issued to the [Class B] Preferred
Securityholders pursuant to Section 16.07(c):

            (i) The provisions of this Section shall be in full force and
      effect;

            (ii) The Company, the Board of Directors, the Manager Trustee, the
      Guarantee Independent Director, if any, and the Registrar and Transfer
      Agent shall be entitled to deal with the clearing agency for all purposes
      of this Agreement (including the payment of dividends, Redemption Price,
      the Contingent Distribution and liquidation distributions and receiving
      approvals, votes or consents hereunder) as the [Class B] Preferred
      Securityholder and the sole holder of the [Class B] Preferred Certificates
      and shall have no obligation to any other [Class B] Preferred
      Securityholders;

            (iii) None of the Company, the Trust, the Board of Directors, the
      Manager Trustee, the Guarantee Independent Director, if any, or any agents
      of any of the foregoing shall have any liability or responsibility for any
      aspect of the records relating to or payments made on account of
      beneficial ownership interests in a global [Class B] Preferred Certificate
      for such beneficial ownership interests or for maintaining, supervising or
      reviewing any records relating to such beneficial ownership interests; and

            (iv) Except as provided in Section 16.07(c) below, the [Class B]
      Preferred Securityholders will not be entitled to receive physical
      delivery of the [Class B] Preferred Securities in definitive form and will
      not be considered Holders thereof for any purpose under this Agreement,
      and no global [Class B] Preferred Certificate representing [Class B]
      Preferred Securities shall be exchangeable, except for another global
      [Class B] Preferred Certificate of like denomination and tenor to be
      registered in the name of DTC or Cede & Co., or to a successor depositary
      or its nominee. Accordingly, each [Class B] Preferred Securityholder must
      rely on the procedures of DTC or if such person is not a Participant, on
      the procedures of the Participant through which such person owns its
      interest to exercise any rights of a [Class B] Preferred Securityholder
      under the Agreement.

      (b) Notices To Clearing Agency. Whenever a notice or other communication
to the [Class B] Preferred Securityholders is required under this Agreement,
unless and until definitive [Class B] Preferred Certificates shall have been
issued to the [Class B] Preferred Securityholder pursuant to Section 16.07(c),
the Company, the Board of Directors, the Manager Trustee and the Guarantee
Independent Director, if any, shall give all such notices and

                                       47
<PAGE>

communications specified herein to be given to the [Class B] Preferred
Securityholders to the clearing agency, and shall have no obligations to any
other [Class B] Preferred Securityholders.

      (c) Definitive [Class B] Preferred Certificates. Definitive [Class B]
Preferred Certificates shall be prepared by the Company and exchangeable for the
global [Class B] Preferred Certificate if and only if (i) the depositary (A)
notifies the Company that it is unwilling or unable to continue its services as
a securities depositary and no successor depositary shall have been appointed or
(B) at any time, ceases to be a clearing agency registered under the Exchange
Act at such time as the depositary is required to be so registered to act as
such depositary, or (ii) there shall have occurred and be continuing an Event of
Default (as defined in the Trust Guarantee or the [Class B] Guarantee) or any
event which after notice or lapse of time or both would be an Event of Default
(as defined in the Trust Guarantee or the [Class B] Guarantee) under the Trust
Guarantee or the [Class B] Guarantee. Upon surrender of the global [Class B]
Preferred Certificate representing the Book-Entry Interests by the clearing
agency, accompanied by registration instructions, the Board of Directors or
authorized Officer shall cause definitive [Class B] Preferred Certificates to be
delivered to [Class B] Preferred Securityholders in accordance with the
instructions of the clearing agency. None of the Board of Directors, authorized
Officers and the Company shall be liable for any delay in delivery of such
instructions and may conclusively rely on, and shall be protected in relying on,
such instructions. Any Person receiving a definitive [Class B] Preferred
Certificate in accordance with this Section 16.07 shall be admitted to the
Company as a [Class B] Preferred Securityholder upon receipt of such definitive
[Class B] Preferred Certificate and shall be registered on the books and records
of the Company as a [Class B] Preferred Securityholder. The clearing agency or
the nominee of the clearing agency, as the case may be, shall cease to be a
[Class B] Preferred Securityholder under this Section 16.07(c) at the time that
at least one additional Person is admitted to the Company as a [Class B]
Preferred Securityholder in accordance herewith. The definitive [Class B]
Preferred Certificates shall be printed, lithographed or engraved or may be
produced in any other manner as may be required by any national securities
exchange on which [Class B] Preferred Securities may be listed and is reasonably
acceptable to any Officer of the Company, as evidenced by his or her execution
thereof.

      Section 16.08. Transfer of [Class A Preferred Securities and] Common
Securities. (a) [The Initial Common Securityholder, as the initial holder of the
[Class A] Preferred Securities, shall have the right to transfer the [Class A]
Preferred Securities to the Bank or to one of the Bank's other U.S. or non-U.S.
branches. No Person other than the Bank or its U.S. and non- U.S. branches is
permitted to own the [Class A] Preferred Securities.]

      (b) The Initial Common Securityholder shall have the right to transfer the
Common Securities to Holding, the Bank or any one or more Qualified

                                       48
<PAGE>

Subsidiaries. No Person other than Holding, the Bank or one or more Qualified
Subsidiaries is permitted to own the Common Securities.

                                   ARTICLE 17
           MERGERS, CONSOLIDATIONS AND SALES; INTERCOMPANY SECURITIES

      Section 17.01. The Company. The Company may not consolidate, convert,
amalgamate, or merge with or into, be replaced by, or convey, transfer or lease
its properties and assets substantially as an entirety to any corporation or
other body, except as described below. The Company may, without the consent of
the [Class B] Preferred Securityholders, consolidate, convert, amalgamate, or
merge with or into, or be replaced by a limited partnership, limited liability
company or trust organized as such under the laws of any state of United States
of America, provided that (i) such successor entity either (x) expressly assumes
all of the obligations of the Company under the [Class B] Preferred Securities
or (y) substitutes for the [Class B] Preferred Securities other securities
having substantially the same terms as the [Class B] Preferred Securities (the
"Successor Securities") so long as the Successor Securities are not junior to
any equity securities of the successor entity, with respect to participation in
the profits, distributions and assets of the successor entity, [except that they
may rank junior to the [Class A] Preferred Securities or any successor [Class A]
Preferred Securities to the same extent that the [Class B] Preferred Securities
rank junior to the [Class A] Preferred Securities,] (ii) the Bank expressly
acknowledges such successor entity as the holder of the Intercompany Securities,
(iii) the [Class B] Preferred Securities or any Successor Securities are listed,
or any Successor Securities will be listed upon notification of issuance, on any
national securities exchange or other organization on which the [Class B]
Preferred Securities, if so listed, are then listed, (iv) such merger,
consolidation, amalgamation, conversion or replacement does not cause the Trust
Preferred Securities (or, in the event that the Trust is liquidated, the [Class
B] Preferred Securities (including any Successor Securities)) to be downgraded
by any nationally recognized statistical rating organization, (v) such merger,
consolidation, amalgamation, conversion or replacement does not adversely affect
the powers, preferences and other special rights of the holders of the Trust
Preferred Securities or [Class B] Preferred Securities (including any Successor
Securities) in any material respect, (vi) such successor entity has a purpose
substantially identical to that of the Company, (vii) prior to such merger,
consolidation, amalgamation, or conversion or replacement, the Company has
received an opinion of nationally recognized law firm experienced in such
matters to the effect that (A) such successor entity will be treated as a
partnership, and will be not classified as an association or a publicly traded
partnership taxable as a corporation, for United States federal income tax
purposes, (B) such merger, consolidation, amalgamation, conversion or
replacement would not cause the Trust to be classified as other than a grantor
trust for United States federal income tax purposes, (C) following such merger,
consolidation, amalgamation, conversion or replacement, such successor entity
will not be required to register under the 1940 Act and (D) such merger,

                                       49
<PAGE>

consolidation, amalgamation, conversion or replacement will not adversely affect
the limited liability of the holders of the [Class B] Preferred Securities and
(viii) the Guarantor guarantees the obligations of such successor entity under
the Successor Securities at least to the extent provided by the [Class B]
Guarantee with respect to the [Class B] Preferred Securities.

      Section 17.02. Intercompany Securities. (a) The Company may reinvest the
proceeds from the Initial Intercompany Securities upon maturity or redemption
thereof in Successor Intercompany Securities, provided that such reinvestment
will not cause the Company to be considered to be an "investment company" within
the meaning of the 1940 Act.

      (b) The Company may not transfer the Intercompany Securities, except to a
holder of [Class A Preferred Securities] as a dividend or upon liquidation of
the Company.

                                   ARTICLE 18
                    DISSOLUTION, LIQUIDATION AND TERMINATION

      Section 18.01. No Dissolution. The Company shall not be dissolved by the
admission of Securityholders. The death, insanity, retirement, resignation,
expulsion, bankruptcy or dissolution of a Securityholder, or the occurrence of
any other event which terminates the continued membership of a Securityholder in
the Company, shall not in and of itself cause the Company to be dissolved and
its affairs wound up. Upon the occurrence of any such event, the business of the
Company shall be continued without dissolution. The bankruptcy of a
Securityholder (as defined in Sections 18-101(1) and 18 304 of the Delaware Act)
shall not cause a Securityholder to cease to be a member of the Company, and
upon the occurrence of any such event the existence of the Company shall
continue without dissolution.

      Section 18.02. Events Causing Dissolution. The Company shall be dissolved
and its affairs shall be wound up upon the occurrence of any of the following
events:

      (a) a decree or order by a court having jurisdiction in the premises shall
have been entered adjudging the Company a bankrupt or insolvent, or approving as
properly filed a petition seeking reorganization, arrangement, adjustment or
composition of the Company under any applicable federal or state bankruptcy or
similar law, and such decree or order shall have continued undischarged and
unstayed for a period of 90 days; or a decree or order of a court having
jurisdiction in the premises for the appointment of a receiver, liquidator,
trustee, assignee, sequestrator or similar official in bankruptcy or insolvency
of the Company or of all or substantially all of its property, or for the
winding up or liquidation of its affairs, shall have been entered, and such
decree or order shall have continued undischarged and unstayed for a period of
90 days or the Company shall institute proceedings to be adjudicated a voluntary
bankrupt, or shall consent to the filing of a bankruptcy proceeding against it,
or shall file a petition or answer or consent seeking reorganization,
arrangement, adjustment or composition under any applicable federal or state
bankruptcy or similar law, or shall consent to the filing of any such petition,
or shall consent to the appointment of a receiver, liquidator, trustee,
assignee, sequestrator or similar official in bankruptcy or insolvency of the

                                       50
<PAGE>

Company or of all or substantially all of its property, or shall make an
assignment for the benefit of creditors, or shall admit in writing its inability
to pay its debts generally as they become due and its willingness to be adjudged
a bankrupt, or corporate action shall be taken by the Company in furtherance of
any of the aforesaid purposes;

      (b) the entry of a decree of judicial dissolution of the Company under
Section 18-802 of the Delaware Act;

      (c) the entry of a judgment initiating judicial liquidation in respect of
the Guarantor or the Bank under Netherlands law or any other liquidation of the
Guarantor or the Bank under Netherlands law;

      (d) in connection with the redemption, repurchase or exchange of all
outstanding Preferred Securities; or

      (e) the written consent of all Securityholders.

      Notwithstanding the foregoing, the Company shall not be dissolved until
all claims under the [Class B] Guarantee, the Trust Guarantee and the Contingent
Guarantee shall have been paid in full pursuant to the terms of the [Class B]
Guarantee, the Trust Guarantee or the Contingent Guarantee, as the case may be,
and the Contingent Distribution, if any, shall have been made.

      Section 18.03. Notice of Dissolution. Upon the dissolution of the Company,
the Board of Directors shall promptly notify the Securityholders of such
dissolution.

      Section 18.04. Liquidation. Upon dissolution of the Company, the Board of
Directors or, in the event that the dissolution is caused by an event described
in Sections 18.02(b) or (c) of this Agreement and there are no Directors, a
Person or Persons who may be approved by the [Class B] Preferred Securityholders
holding not less than a 66-2/3% in liquidation amount of the [Class B] Preferred
Securities, as liquidating trustees, shall immediately commence to wind up the
Company's affairs; provided, however, that a reasonable time shall be allowed
for the orderly liquidation of the assets of the Company and the satisfaction of
liabilities to creditors so as to minimize the losses attendant upon a
liquidation. The proceeds

                                       51
<PAGE>

of liquidation shall be distributed, as realized, in the manner provided in
Section 18-804 of the Delaware Act.

      Section 18.05. Termination. The Company shall terminate when all of the
assets of the Company have been distributed in the manner provided for in this
Article 18, and the Certificate shall have been canceled in the manner required
by the Delaware Act.

                                   ARTICLE 19
                                  MISCELLANEOUS

      Section 19.01. Amendments. This Agreement may only be amended by a written
instrument executed by an Officer designated by the Board of Directors without
the consent of any Preferred Securityholder; provided, however, that no
amendment shall be made, and any such purported amendment shall be void and
ineffective, to the extent either that such amendment (a) would have a material
adverse effect on a Preferred Securityholder or a Holder or beneficial owner of
Trust Securities (including, without limitation, amendments to Sections 9.02 and
9.07), (b) would result in the Company being deemed to be required to register
under the 1940 Act, (c) would result in causing the Company to be treated as
anything other than a partnership that is not a publicly traded partnership for
purposes of United States federal income taxation, or (d) has not received the
prior requisite approval of the holders of the [Class B] Preferred
Securityholders, as may be expressly provided in this Agreement or the By-Laws.

      Notwithstanding anything to the contrary in this Agreement, for so long as
any [Class B] Preferred Security remains outstanding, the Board of Directors
shall not cause, or permit, any amendment to Section 10.04(b), 10.04(h), or
10.04(i)(iii) of this Agreement, unless such amendment shall have received the
prior unanimous approval of all [Class B] Preferred Securityholders entitled to
give such approval, as determined in accordance with Section 11.01.

      Section 19.02. Amendment of Certificate. In the event this Agreement shall
be amended pursuant to Section 19.01, the Board of Directors shall cause the
Certificate to be amended to reflect such change if it deems such amendment of
the Certificate to be necessary or appropriate.

      Section 19.03. Successors. This Agreement shall be binding as to the
executors, administrators, estates, heirs and legal successors, or nominees or
representatives, of the Securityholders.

      Section 19.04. Law; Severability. THIS AGREEMENT AND THE RIGHTS OF PARTIES
HEREUNDER SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF DELAWARE WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF

                                       52
<PAGE>

LAWS. In particular, this Agreement shall be construed to the maximum extent
possible to comply with all of the terms and conditions of the Delaware Act. If,
nevertheless, it shall be determined by a court of competent jurisdiction that
any provisions or wording of this Agreement shall be invalid or unenforceable
under the Delaware Act or other applicable law, such invalidity or
unenforceability shall not invalidate the entire Agreement. In that case, this
Agreement shall be construed so as to limit any term or provision so as to make
it enforceable or valid within the requirements of applicable law, and, in the
event such term or provisions cannot be so limited, this Agreement shall be
construed to omit such invalid or unenforceable provisions. If it shall be
determined by a court of competent jurisdiction that any provision relating to
the distributions and allocations of the Company or to any fee payable by the
Company is invalid or unenforceable, this Agreement shall be construed or
interpreted so as (a) to make it enforceable or valid and (b) to make the
distributions and allocations as closely equivalent to those set forth in this
Agreement as is permissible under applicable law.

      Section 19.05. Filings. Following the execution and delivery of this
Agreement, the Board of Directors shall cause to be promptly prepared any
documents required to be filed and recorded under the Delaware Act, and the
Board of Directors shall cause to be promptly filed and recorded each such
document in accordance with the Delaware Act and, to the extent required by
local law, to be filed and recorded or notice thereof to be published in the
appropriate place in each jurisdiction in which the Company may hereafter
establish a place of business. The Board of Directors shall also promptly cause
to be filed, recorded and published such statements of fictitious business name
and any other notices, certificates, statements or other instruments required by
any provision of any applicable law of the United States or any state or other
jurisdiction which governs the conduct of its business from time to time.

      Section 19.06. Power of Attorney. Each Securityholder does hereby
constitute and appoint each Person specifically authorized by the Board of
Directors to act as its true and lawful representative and attorney in fact, in
its name, place and stead to make, execute, sign, deliver and file (a) any
amendment of the Certificate required because of an amendment to this Agreement
or in order to effectuate any change in the ownership of the Securities of the
Company, (b) any amendments to this Agreement made in accordance with the terms
hereof and (c) all such other instruments, documents and certificates which may
from time to time be required by the laws of the United States of America, the
State of Delaware or any other jurisdiction, or any political subdivision or
agency thereof, to effectuate, implement and continue the valid and subsisting
existence of the Company or to dissolve the Company or for any other purpose
consistent with this Agreement and the transactions contemplated hereby.

      The power of attorney granted hereby is coupled with an interest and shall
(a) survive and not be affected by the subsequent death, incapacity, disability,

                                       53
<PAGE>

dissolution, termination or bankruptcy of the Securityholder granting the same
or the transfer of all or any portion of such Securityholder's Preferred
Securities and (b) extend to such Securityholder's successors, assigns and legal
representatives.

      Section 19.07. Exculpation. (a) No Director or Officer shall have personal
liability to the Company or the Securityholders for monetary damages for breach
of, in the case of a Director, such Director's fiduciary duty (if any) or, in
the case of a Director or an Officer, for any act or omission performed or
omitted by such Director or Officer in good faith on behalf of the Company, and
in a manner such Director or Officer reasonably believed to be within the scope
of the authority conferred on such Director or Officer by this Agreement or by
law, except for such Director's or Officer's gross negligence or willful
misconduct.

      (b) Each Director and Officer shall be fully protected in relying in good
faith upon the records of the Company and upon such information, opinions,
reports or statements presented to the Company by any Person as to matters such
Director or Officer reasonably believes are within such other Person's
professional or expert competence and who has been selected with reasonable care
by or on behalf of the Company, including information, opinions, reports or
statements as to the value and amount of the assets, liabilities, profits,
losses, or any other facts pertinent to the existence and amount of assets from
which distributions to Securityholders might properly be paid.

      Section 19.08. Indemnification. To the fullest extent permitted by
applicable law, each Director and Officer shall be entitled to indemnification
from the Common Securityholder for any loss, damage, claim or expense (including
reasonable attorney's fees) incurred by such Director or Officer by reason of
any act or omission performed or omitted by such Director or Officer in good
faith on behalf of the Company and in a manner reasonably believed to be within
the scope of authority conferred on such Director or Officer by this Agreement,
except with respect to any act or omission determined by a court of competent
jurisdiction to have constituted gross negligence or wilful misconduct of such
Director or Officer.

      Section 19.09. Notices. All notices provided for in this Agreement shall
be in writing, duly signed by the party giving such notice, and shall be
delivered, telecopied or mailed by registered or certified mail, as follows:

            (i) If given to the Company, at the Company's mailing address set
      forth:

      [ADDRESS]

            (ii) If given to any Securityholder, at the address set forth in the
      Securities Register.

                                       54
<PAGE>

Each such notice, request or other communication shall be effective (a) if given
by telecopier, when transmitted to the number specified in such Securities
Register and the appropriate confirmation is received, (b) if given by mail, 72
hours after such communication is deposited in the mails with first class
postage prepaid, addressed as aforesaid, or (c) if given by any other means,
when delivered at the address specified in the Securities Register.

                                       55
<PAGE>

      IN WITNESS WHEREOF, this Agreement is executed as of the date first above
stated.

                                    [Initial Common Securityholder]

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

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

                                    [Initial Purchaser]

                                    By the Regular Trustee

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

                                    [Manager Trustee],
                                       as Manager Trustee

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

                                       56
<PAGE>

                                                                   EXHIBIT 4.20

                                                                         Annex A
                                                     to the Amended and Restated
                                             Limited Liability Company Agreement

                                     BY-LAWS

                                       OF

                       ABN AMRO Capital Funding LLC [___]

      These By-laws have been established as the By-laws of ABN AMRO Capital
Funding LLC [ ], a Delaware limited liability company (the "Company"), pursuant
to the Amended and Restated Limited Liability Company Agreement, dated as of
[__] (as from time to time amended, modified or supplemented, the "Agreement"),
pursuant to which the Company's existence has been continued, and, together
with the Agreement and the other annexes thereto, are deemed to be the limited
liability company agreement of the Company for purposes of the Delaware Act. In
the event of any inconsistency between the Agreement and these By-laws, the
provisions of the Agreement shall control.

      Capitalized terms used and not otherwise defined herein shall have the
meanings ascribed to them in the Agreement.

                                    ARTICLE 1
                                 SECURITYHOLDERS

      Section 1.01. Annual Meetings. An annual meeting of Securityholders, if
any, shall be held at such date, time and place either within or without the
State of Delaware if and as may be decided and designated by the Board of
Directors from time to time. Any other proper business may be transacted at the
annual meeting.

      Section 1.02. Special Meetings. Special meetings of Securityholders may be
called at any time by the Chairman of the Board, if any, the President, the
Board of Directors or any of the Independent Directors, if any, to be held at
such date, time and place either within or without the State of Delaware as may
be stated in the notice of the meeting. A special meeting of Securityholders
shall be called by the Secretary upon the written request, stating the purpose
of the meeting, of Securityholders who together own of record a majority of the
Securities entitled to vote at such meeting.

<PAGE>

      Section 1.03. Notice of Meetings. Whenever Securityholders are required or
permitted to take any action at a meeting, a written notice of the meeting shall
be given which shall state the place, date and hour of the meeting, and, in the
case of a special meeting, the purpose or purposes for which the meeting is
called. Unless otherwise provided by law, the written notice of any meeting
shall be given not less than ten nor more than sixty days before the date of the
meeting to each Securityholder entitled to vote at such meeting. If mailed, such
notice shall be deemed to be given when deposited in the United States mail,
postage prepaid, directed to the Securityholder at such Securityholder's address
as it appears on the records of the Company.

      Section 1.04. Adjournments. Any meeting of Securityholders, annual or
special, may be adjourned from time to time, to reconvene at the same or some
other place, and notice need not be given of any such adjourned meeting if the
time and place thereof are announced at the meeting at which the adjournment is
taken. At the adjourned meeting the Company may transact any business which
might have been transacted at the original meeting. If the adjournment is for
more than thirty days, or if after the adjournment a new record date is fixed
for the adjourned meeting, a notice of the adjourned meeting shall be given to
each Securityholder of record entitled to vote at the meeting.

      Section 1.05. Quorum. At each meeting of Securityholders, except where
otherwise provided by law or the Agreement or these By-laws, the holders of at
least 50% of the Securities entitled to vote on a matter at the meeting, present
in person or represented by proxy, shall constitute a quorum. In the absence of
a quorum of the holders of Securities entitled to vote on a matter, the holders
of a majority of the Securities present or represented may adjourn such meeting
from time to time in the manner provided by Section 1.04 of these By-laws until
a quorum shall be so present or represented. Securities other than Common
Securities belonging on the record date for the meeting to the Guarantor or an
Affiliate of the Guarantor shall neither be entitled to vote nor be counted for
quorum purposes.

      Section 1.06. Organization. Meetings of Securityholders shall be presided
over by the Chairman of the Board, if any, or in the absence of the Chairman of
the Board by the President, or in the absence of the President by a Vice
President, or in the absence of the foregoing persons, by a chairman designated
by the Board of Directors, or in the absence of such designation, by a chairman
chosen at the meeting. The Secretary, or in the absence of the Secretary, an
Assistant Secretary, shall act as secretary of the meeting, but in the absence
of the Secretary and any Assistant Secretary, the chairman of the meeting may
appoint any person to act as secretary of the meeting.

      Section 1.07. Voting; Proxies. Unless otherwise provided in the Agreement,
each Securityholder entitled to vote at any meeting of Securityholders shall
have voting power proportionate to the outstanding amount, based on initial

                                       2
<PAGE>

issue price, of the Securities held by such Securityholder that have voting
power upon the matter in question. Each Securityholder entitled to vote at a
meeting of Securityholders or to express consent or dissent to action in writing
without a meeting may authorize another person or persons to act for such
Securityholder by proxy, but no such proxy shall be voted or acted upon after
three years from its date, unless the proxy provides for a longer period. A duly
executed proxy shall be irrevocable if it states that it is irrevocable and if,
and only as long as, it is coupled with an interest sufficient in law to support
an irrevocable power, regardless of whether the interest with which it is
coupled is an interest in the Securities themselves or an interest in the
Company generally. A Securityholder may revoke any proxy which is not
irrevocable by attending the meeting and voting in person or by filing an
instrument in writing revoking the proxy or another duly executed proxy bearing
a later date with the Secretary of the Company. Voting at meetings of
Securityholders need not be by written ballot unless the holders of a majority
of the outstanding Securities entitled to vote thereon present in person or
represented by proxy at such meeting shall so determine. Directors shall be
designated, removed and replaced as provided in the Agreement and Article II
hereof. Other than in the case of any matter expressly set forth in the
Agreement for which a higher vote is required, the affirmative vote of the
holders of a majority of the Securities present in person or represented by
proxy at the meeting and entitled to vote on the subject matter shall be the act
of the Securityholders.

      Section 1.08. Fixing Date for Determination of Securityholders of Record.
In order that the Company may determine the Securityholders entitled to notice
of or to vote at any meeting of Securityholders or any adjournment thereof, the
Board of Directors may fix a record date, which record date shall not precede
the date upon which the resolution fixing the record date is adopted by the
Board of Directors, and which record date shall not be more than sixty nor less
than ten days before the date of such meeting. If no record date is fixed by the
Board of Directors, the record date for determining Securityholders entitled to
notice of or to vote at a meeting of Securityholders shall be at the close of
business on the day next preceding the day on which notice is given, or, if
notice is waived, at the close of business on the day next preceding the day on
which the meeting is held. A determination of Securityholders of record entitled
to notice of or to vote at a meeting of Securityholders shall apply to any
adjournment of the meeting; provided, however, that the Board of Directors may
fix a new record date for the adjourned meeting.

      In order that the Company may determine the Securityholders entitled to
consent to action in writing without a meeting, the Board of Directors may fix a
record date, which record date shall not precede the date upon which the
resolution fixing the record date is adopted by the Board of Directors, and
which date shall not be more than ten days after the date upon which the
resolution fixing the record date is adopted by the Board of Directors. If no
record date has been fixed by the Board of Directors, the record date for
determining

                                       3
<PAGE>

Securityholders entitled to consent to action in writing without a meeting, when
no prior action by the Board of Directors is required by law, shall be the first
date on which a signed written consent setting forth the action taken or
proposed to be taken is delivered to the Company by delivery to (a) its
registered office in the State of Delaware, (b) its principal place of business,
or (c) an Officer or agent of the Company having custody of the book in which
proceedings of meetings of Securityholders are recorded. Delivery made to the
Company's registered office shall be by hand or by certified or registered mail,
return receipt requested. If no record date has been fixed by the Board of
Directors and prior action by the Board of Directors is required by law, the
record date for determining Securityholders entitled to consent to action in
writing without a meeting shall be at the close of business on the day on which
the Board of Directors adopts the resolution taking such prior action.

      In order that the Company may determine the Securityholders entitled to
receive payment of any distribution or allotment of any rights or the
Securityholders entitled to exercise any rights in respect of any exchange of
Securities, or for the purpose of any other lawful action, the Board of
Directors may fix a record date, which record date shall not precede the date
upon which the resolution fixing the record date is adopted, and which record
date shall be not more than sixty days prior to such action. If no record date
is fixed, the record date for determining Securityholders for any such purpose
shall be at the close of business on the day on which the Board of Directors
adopts the resolution relating thereto.

      Section 1.09. List of Securityholders Entitled to Vote. The Secretary
shall prepare and make, at least ten days before every meeting of
Securityholders, a complete list of the Securityholders entitled to vote at the
meeting, arranged in alphabetical order, and showing the address of each
Securityholder and the amount of Securities registered in the name of each
Securityholder. Such list shall be open to the examination of any
Securityholder, for any purpose germane to the meeting, during ordinary business
hours, for a period of at least ten days prior to the meeting, either at a place
within the city where the meeting is to be held, which place shall be specified
in the notice of the meeting, or, if not so specified, at the place where the
meeting is to be held. The list shall also be produced and kept at the time and
place of the meeting during the whole time thereof and may be inspected by any
Securityholder who is present.

      Section 1.10. Consent of Securityholders in Lieu of Meeting. Unless
otherwise provided in the Agreement or by law, any action required by law to be
taken at any annual or special meeting of Securityholders of the Company, or any
action which may be taken at any annual or special meeting of such
Securityholders, may be taken without a meeting, without prior notice and
without a vote, if a consent or consents in writing, setting forth the action so
taken, shall be signed by the holders of outstanding Securities having not less
than the minimum number of votes that would be necessary to authorize or take
such

                                       4
<PAGE>

action at a meeting at which all Securities entitled to vote thereon were
present and voted and shall be delivered to the Company by delivery to (a) its
registered office in the State of Delaware by hand or by certified mail or
registered mail, return receipt requested, (b) its principal place of business,
or (c) an Officer or agent of the Company having custody of the book in which
proceedings of meetings of Securityholders are recorded. Every written consent
shall bear the date of signature of each Securityholder who signs the consent
and no written consent shall be effective to take the action referred to therein
unless, within sixty days of the earliest dated consent delivered in the manner
required by this By-Law to the Company, written consents signed by holders
representing a sufficient amount of Securities to take action are delivered to
the Company by delivery to (a) its registered office in the State of Delaware by
hand or by certified or registered mail, return receipt requested, (b) its
principal place of business, or (c) an Officer or agent of the Company having
custody of the book in which proceedings of meetings of Securityholders are
recorded. Prompt notice of the taking of the action without a meeting by less
than unanimous written consent shall be given to those Securityholders who have
not consented in writing.

                                    ARTICLE 2
                               BOARD OF DIRECTORS

      Section 2.01. Number; Powers; By-laws. The business and affairs of the
Company shall be managed by or under the direction of a Board composed initially
of four Directors and thereafter of not less than four nor more than seven
Directors. Except as provided in the Agreement, Directors shall be designated,
approved or elected by the Common Securityholder. The Board shall manage the
business and affairs of the Company and may exercise all powers in connection
therewith, and except for such powers as are required to be exercised by
Securityholders, all in accordance with the Agreement, these By-laws and
applicable law. Except for the Guarantee Independent Director with respect to
the enforcement of the Contingent Guarantee and the Contingent Distribution and
except to the extent that the Board or the Securityholders confer such authority
on a Director, no Director shall have the authority to bind the Company.

      Section 2.02. Voting Power. Each Director (other than the Guarantee
Independent Director) shall, in the consideration of any matter by the Board,
have a single vote at the time such vote is taken or made (whether at a meeting
or by written consent). Except where a greater percentage approval may be
provided for herein or in the Agreement or by law, an action shall be deemed
approved by the Board only if it has been approved by a majority of the
Directors.

      Section 2.03. Quorum. At all meetings of the Board, the presence of at
least a majority of Directors shall constitute a quorum for the transaction of
business. In case at any meeting of the Board a quorum shall not be present, any

                                       5
<PAGE>

Director present may adjourn the meeting from time to time until a quorum shall
be present.

      Section 2.04. Designation; Removal; Replacement. The term of office of a
Director shall be until the earliest of the following events: (i) his or her
successor is designated or (ii) he or she resigns or is removed. Any Director
(other than an Independent Director or a Guarantee Independent Director) may be
removed, with or without cause by a majority vote of the Common Securityholders.
In the event of the resignation, removal or death of a Director, such Director
shall be replaced by another person designated by a majority vote of the Common
Securityholders. Any Director may resign at any time upon written notice to the
Board of Directors or to the President or the Secretary of the Company. Such
resignation shall take effect at the time specified therein, and unless
otherwise specified therein no acceptance of such resignation shall be necessary
to make it effective.

      Section 2.05. Regular Meetings. Regular meetings of the Board of Directors
may be held at such places within or without the State of Delaware and at such
times as the Board may from time to time determine, and if so determined notice
thereof need not be given.

      Section 2.06. Special Meetings. Special meetings of the Board of Directors
may be held at any time or place within or without the State of Delaware
whenever called by the Chairman of the Board, by the President or by any two
Directors. Reasonable notice thereof shall be given by the person or persons
calling the meeting.

      Section 2.07. Participation in Meetings by Conference Telephone Permitted.
Unless otherwise restricted by the Agreement or these By-laws, the Board of
Directors, or any committee designated by the Board, may participate in a
meeting of the Board or of such committee, as the case may be, by means of
conference telephone or similar communications equipment by means of which all
persons participating in the meeting can hear each other, and participation in a
meeting pursuant to this By-Law shall constitute presence in person at such
meeting.

      Section 2.08. Organization. Meetings of the Board of Directors shall be
presided over by the Chairman of the Board, or in the absence of the Chairman of
the Board by the President, or in their absence, by a chairman chosen at the
meeting. The Secretary, or in the absence of the Secretary, an Assistant
Secretary, shall act as secretary of the meeting, but in the absence of the
Secretary and any Assistant Secretary, the chairman of the meeting may appoint
any person to act as secretary of the meeting.

      Section 2.09. Action by Directors Without a Meeting. Unless otherwise
restricted by the Agreement or these By-laws, any action required or permitted
to

                                       6
<PAGE>

be taken at any meeting of the Board of Directors, or of any committee thereof,
may be taken without a meeting if all of the Board or of such committee, as the
case may be, consent thereto in writing, and the writing or writings are filed
with the minutes of proceedings of the Board or committee.

                                    ARTICLE 3
                                   COMMITTEES

      Section 3.01. Committees. The Board of Directors may, by resolution of the
Board adopted by majority vote, designate one or more committees, each committee
to consist of one or more of the Directors of the Company. Any such committee,
to the extent provided in the resolution of the Board of Directors or in these
By-laws, shall have and may exercise all the powers and authority of the Board
of Directors in the management of the business and affairs of the Company, and
may authorize the seal of the Company, if any, to be affixed to all papers which
may require it; but no such committee shall have the power or authority in
reference to amending the Certificate of Formation, adopting an agreement of
merger, consolidation or conversion, recommending to the Securityholders the
sale, lease or exchange of all or substantially all of the Company's property
and assets, recommending to the Securityholders a dissolution of the Company or
a revocation of a dissolution, amending these By-laws or, with respect to any
matter reserved to the Guarantee Independent Director pursuant to Section
9.02(c) of the Agreement or relating to the duties of the Guarantee Independent
Director under Section 9.07 of the Agreement; and, unless the resolution, these
By-laws or the Agreement expressly so provides, no such committee shall have the
power or authority to authorize the issuance of Securities, to adopt a
certificate of ownership and merger, consolidation or conversion or to remove or
indemnify Officers or Directors.

      Section 3.02. Committee Rules. Unless the Board of Directors otherwise
provides, each committee designated by the Board may adopt, amend and repeal
rules for the conduct of its business. In the absence of a provision by the
Board or a provision in the rules of such committee to the contrary, a majority
of the members of such committee shall constitute a quorum for the transaction
of business, the vote of a majority of the members present at a meeting at the
time of such vote if a quorum is then present shall be the act of such
committee, and in other respects each committee shall conduct its business in
the same manner as the Board conducts its business pursuant to Article II of
these By-laws.

                                       7
<PAGE>

                                    ARTICLE 4
                                    OFFICERS

      Section 4.01. Officers; Election. As soon as practicable after the annual
meeting of Securityholders in each year, the Board of Directors shall elect a
President and a Secretary, and may also elect one or more Vice Presidents, one
or more Assistant Vice Presidents, one or more Assistant Secretaries, a
Treasurer and one or more Assistant Treasurers and such other Officers as the
Board may deem desirable or appropriate and may give any of them such further
designations or alternate titles as it considers desirable. Any number of
offices may be held by the same person unless the Agreement or these By-laws
otherwise provide.

      Section 4.02. Term of Office; Resignation; Removal; Vacancies. Unless
otherwise provided in the resolution of the Board of Directors electing any
Officer, each Officer shall hold office until his or her successor is elected
and qualified or until his or her earlier resignation or removal. Any Officer
may resign at any time upon written notice to the Board or to the President or
the Secretary of the Company. Such resignation shall take effect at the time
specified therein, and unless otherwise specified therein no acceptance of such
resignation shall be necessary to make it effective. The Board may remove any
Officer with or without cause at any time. Any such removal shall be without
prejudice to the contractual rights of such Officer, if any, with the Company,
but the election of an Officer shall not of itself create contractual rights.
Any vacancy occurring in any office of the Company by death, resignation,
removal or otherwise may be filled by the Board at any regular or special
meeting.

      Section 4.03. Powers and Duties. The Officers of the Company shall have
such powers and duties in the management of the Company as shall be stated in
these By-laws or in a resolution of the Board of Directors which is not
inconsistent with these By-laws and, to the extent not so stated, as generally
pertain to comparable offices in a corporation organized under the General
Corporation Law of the State of Delaware, subject to the control of the Board.
The Secretary shall have the duty to record the proceedings of the meetings of
the Securityholders, the Board of Directors and any committees in a book to be
kept for that purpose. The Board may require any Officer, agent or employee to
give security for the faithful performance of his or her duties.

                                    ARTICLE 5
                                   SECURITIES

      Section 5.01. Certificates for Securities. The Preferred Securities in the
Company shall be registered in certificated form, except that, if the [Class B]
Preferred Securities are distributed to Holders of Trust Securities in
book-entry form in connection with the dissolution, winding up, termination or
liquidation of the Trust, the Company shall cause the [Class B] Preferred
Securities to be issued

                                       8
<PAGE>

in one or more global certificates and registered in the name of a nominee of
DTC pursuant to Article 16 of the Agreement. If such certificate is manually
countersigned by a transfer agent or by a registrar, any other signature on the
certificate may be a facsimile. In case any Officer who has signed or whose
facsimile signature has been placed upon a certificate shall have ceased to be
such Officer before such certificate is issued, it may be issued by the Company
with the same effect as if such person were such Officer at the date of issue.

Section 5.02. Lost, Stolen or Destroyed Certificates; Issuance of New
Certificates. The Company may issue a new certificate representing Securities in
the place of any certificate theretofore issued by it, alleged to have been
lost, stolen or destroyed, and the Company may require the owner of the lost,
stolen or destroyed certificate, or such owner's legal representative, to give
the Company a bond sufficient to indemnify it against any claim that may be made
against it on account of the alleged loss, theft or destruction of any such
certificate or the issuance of such new certificate or uncertificated
Securities.

                                    ARTICLE 6
                                  MISCELLANEOUS

      Section 6.01. Seal. The Company may have a company seal which shall have
the name of the Company inscribed thereon and shall be in such form as may be
approved from time to time by the Board of Directors. The company seal may be
used by causing it or a facsimile thereof to be impressed or affixed or in any
other manner reproduced.

      Section 6.02. Waiver of Notice of Meetings of Securityholders, Directors
and Committees. Whenever notice is required to be given by law or under any
provision of the Agreement or these By-laws, a written waiver thereof, signed by
the person entitled to notice, whether before or after the time stated therein,
shall be deemed equivalent to notice. Attendance of a person at a meeting shall
constitute a waiver of notice of such meeting, except when the person attends a
meeting for the express purpose of objecting, at the beginning of the meeting,
to the transaction of any business because the meeting is not lawfully called or
convened. Neither the business to be transacted at, nor the purpose of, any
regular or special meeting of the Securityholders, Directors or a committee of
Directors need be specified in any written waiver of notice unless so required
by the Agreement or these By-laws.

      Section 6.03. Indemnification of Directors, Officers and Employees. The
Common Securityholder, as the Holder of the Common Securities, shall indemnify
to the full extent permitted under the Delaware Act any person made or
threatened to be made a party to any action, suit or proceeding, whether civil,
criminal, administrative or investigative, by reason of the fact that such
person or such person's testator or intestate is or was a Director, Officer or
employee of the

                                       9
<PAGE>

Company or serves or served at the request of the Company any other enterprise
as a director, officer or employee except for such Director's or Officer's gross
negligence or willful misconduct. Expenses, including attorneys' fees, incurred
by any such person in defending any such action, suit or proceeding shall be
paid or reimbursed by the promptly upon receipt by it of an undertaking of such
person to repay such expenses if it shall ultimately be determined that such
person is not entitled to be indemnified by the Company. The rights provided to
any person by this By-Law shall be enforceable against the Common Securityholder
by such person who shall be presumed to have relied upon it in serving or
continuing to serve as a Director, Officer or employee as provided above. No
amendment of this By-Law shall impair the rights of any person arising at any
time with respect to events occurring prior to such amendment. For purposes of
this By-Law, the term "Company" shall include any predecessor of the Company and
any constituent company (including any constituent of a constituent) absorbed by
the Company in a consolidation or merger; the term "other enterprise" shall
include any limited liability company, corporation, partnership, joint venture,
trust or employee benefit plan. The rights conferred on any Person by this
Section 6.03 shall not be exclusive of any other rights which such Person may
have or hereafter acquire under any statute, provision of these By-Laws, the
Agreement, any other agreement, vote of Securityholders or disinterested
Directors or otherwise. The Common Securityholder's obligation, if any, to
indemnify any Person who was or is serving at its request as a director,
officer, employee or agent of any other enterprise shall be reduced by any
amount such Person may collect as indemnification from such other enterprise.
Any repeal or modification of the foregoing provisions of this Section 6.03
shall not adversely affect any right of protection hereunder of any Person in
respect of any act or omission occurring prior to the time of such repeal or
modification.

Section 6.04. Form of Records. Any records maintained by the Company in the
regular course of its business, including its Securities ledger, books of
account and minute books, may be kept on, or be in the form of, punch cards,
magnetic tape or disk, photographs, microphotographs or any other information
storage device, provided that the records so kept can be converted into clearly
legible form within a reasonable time. The Company shall so convert any records
so kept upon the request of any person entitled to inspect the same.

Section 6.05. Amendment of By-laws. These By-laws may be amended or repealed,
and new by-laws adopted, by the Board of Directors in accordance with the
Agreement.

                                       10
<PAGE>

                                                                   EXHIBIT 4.20

                                                                         Annex B
                                                     to the Amended and Restated
                                             Limited Liability Company Agreement

                            List of Initial Directors

                                     [NAMES]

                            List of Initial Officers

                     [NAME]                      [TITLE]

<PAGE>

                                                                   EXHIBIT 4.20

                                                                         Annex C
                                                     to the Amended and Restated
                                             Limited Liability Company Agreement

         [FORM OF CERTIFICATE EVIDENCING CLASS A PREFERRED SECURITIES]

THIS CLASS A PREFERRED SECURITY IS NOT TRANSFERABLE EXCEPT TO ABN AMRO HOLDING
N.V., ABN AMRO BANK N.V. OR ONE OR MORE OF ANY OF THEIR SUBSIDIARIES WHICH ARE
DEEMED TO BE "A COMPANY CONTROLLED BY THE PARENT COMPANY" UNDER RULE 3a-5, AS
AMENDED, OF THE INVESTMENT COMPANY ACT OF 1940, AS AMENDED.

                                                               Aggregate Initial
Certificate Number R -                                    Liquidation Preference
                                      $[__]

                 CERTIFICATE FOR CLASS A PREFERRED SECURITIES OF
                       ABN AMRO CAPITAL FUNDING LLC [__]

                          Class A Preferred Securities
                            (liquidation amount $[__]
                         per Class A Preferred Security)

      ABN AMRO Capital Funding LLC [__], a limited liability company formed
under the laws of the State of Delaware (the "Company"), hereby certifies that
[__] is the registered owner of $[__] aggregate initial liquidation preference
of Preferred Securities of the Company representing preferred limited liability
company interests in the Company, which are designated the Class A Preferred
Securities, liquidation amount $[__] per Class A Preferred Security (the "Class
A Preferred Securities"). The Class A Preferred Securities are fully paid and
are nonassessable preferred limited liability company interests in the Company,
as to which the Securityholders of the Company who hold the Class A Preferred
Securities (the "Securityholders"), in their capacities as such, have no
liability in excess of their obligations to make payments provided for in the
LLC Agreement (as defined below) and their share as provided in the LLC
Agreement of the Company's assets and undistributed profits (subject to their
obligation to repay any funds wrongfully distributed to them), and are
transferable on the books and records of the Company, in person or by a duly
authorized attorney, upon surrender of this certificate duly endorsed and in
proper form for transfer and otherwise in accordance with the provisions of the
LLC Agreement. The powers,

<PAGE>

preferences and special rights and limitations of the Class A Preferred
Securities are set forth in, and this certificate and the Class A Preferred
Securities represented hereby are issued and shall in all respects be subject to
the terms and provisions of, the Amended and Restated Limited Liability Company
Agreement of the Company dated as of April 1, 1999, as the same may be amended
from time to time in accordance with its terms (the "LLC Agreement"),
authorizing the issuance of the Class A Preferred Securities and determining the
powers, preferences and other special rights and limitations, regarding
dividends, voting, return of capital and otherwise, and other matters relating
to the Class A Preferred Securities. Capitalized terms used herein but not
defined herein shall have the meaning given them in the LLC Agreement. The
Company will furnish a copy of the LLC Agreement to the Securityholder without
charge upon written request to the Company at its principal place of business.

      The Securityholder, by accepting this certificate, is deemed to have
agreed to be bound by the provisions of the LLC Agreement. Upon receipt of this
certificate, the Securityholder is admitted to the Company as a Class A
Preferred Securityholder, is bound by the LLC Agreement and is entitled to the
benefits thereunder.

      IN WITNESS WHEREOF, this certificate has been executed on behalf of the
Company by a duly authorized officer as of this [__] day of [__].

                                       ABN AMRO CAPITAL FUNDING LLC [___]

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

                                       2
<PAGE>

                                                                   EXHIBIT 4.20

                                                                         Annex D
                                                     to the Amended and Restated
                                             Limited Liability Company Agreement

         [FORM OF CERTIFICATE EVIDENCING [CLASS B] PREFERRED SECURITIES]

      [IF THE CLASS B PREFERRED SECURITY IS TO BE A GLOBAL CERTIFICATE INSERT:
This [Class B] Preferred Security is a Global Certificate within the meaning of
the LLC Agreement hereinafter referred to and is registered in the name of The
Depository Trust Company (the "Depositary") or a nominee of the Depositary. This
[Class B] Preferred Security is exchangeable for [Class B] Preferred Securities
registered in the name of a person other than the Depositary or its nominee only
in the limited circumstances described in the LLC Agreement and no transfer of
this [Class B] Preferred Security (other than a transfer of this [Class B]
Preferred Security as a whole by the Depositary to a nominee of the Depositary
or by a nominee of the Depositary to the Depositary or another nominee of the
Depositary) may be registered except in limited circumstances.

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

<PAGE>

                                                               Aggregate Initial
Certificate Number R -                                    Liquidation Preference
                                                            $[__]

                CERTIFICATE FOR [CLASS B] PREFERRED SECURITIES OF
                        ABN AMRO CAPITAL FUNDING LLC [__]

           [__] Noncumulative Guaranteed [Class B] Preferred Securities
                            (liquidation amount $[__]
                        per [Class B] Preferred Security)

      ABN AMRO Capital Funding LLC [__], a limited liability company formed
under the laws of the State of Delaware (the "Company"), hereby certifies that
_________________________ (the "Securityholder") is the registered owner of
$________ aggregate liquidation preference of Preferred Securities of the
Company representing preferred limited liability company interests in the
Company, which are designated the [__] Noncumulative Guaranteed [Class B]
Preferred Securities, liquidation amount $[__] per [Class B] Preferred Security
(the "[Class B] Preferred Securities"). The [Class B] Preferred Securities are
fully paid and are nonassessable preferred limited liability company interests
in the Company, as to which the Securityholders of the Company who hold the
[Class B] Preferred Securities (the "Securityholders"), in their capacities as
such, have no liability in excess of their obligations to make payments provided
for in the LLC Agreement (as defined below) and their share as provided in the
LLC Agreement of the Company's assets and undistributed profits (subject to
their obligation to repay any funds wrongfully distributed to them), and are
transferable on the books and records of the Company, in person or by a duly
authorized attorney, upon surrender of this certificate duly endorsed and in
proper form for transfer and otherwise in accordance with the provisions of the
LLC Agreement. The powers, preferences and special rights and limitations of the
[Class B] Preferred Securities are set forth in, and this certificate and the
[Class B] Preferred Securities represented hereby are issued and shall in all
respects be subject to the terms and provisions of, the Amended and Restated
Limited Liability Company Agreement of the Company dated as of [__], as the same
may be amended from time to time in accordance with its terms (the "LLC
Agreement"), authorizing the issuance of the [Class B] Preferred Securities and
determining the powers, preferences and other special rights and limitations,
regarding dividends, voting, return of capital and otherwise, and other matters
relating to the [Class B] Preferred Securities. Capitalized terms used herein
but not defined herein shall have the meaning given them in the LLC Agreement.
The Securityholder is entitled to the benefits of the [Class B] Preferred
Securities Guarantee Agreement dated as of [__], among the Guarantor, ABN AMRO
Capital Funding Trust [ ], as initial holder of [Class B] Preferred Securities
and [__], as trustee (the "[Class B] Guarantee") to the extent provided therein.
The Company will furnish a copy of the LLC Agreement and the [Class B] Guarantee
to the

                                       2
<PAGE>
Securityholder without charge upon written request to the Company at its
principal place of business.

      By accepting this certificate, the Securityholder hereby accepts the
rights under the [Class B] Guarantee with respect to this [Class B] Preferred
Security, including the rights under Article 6:253 of the Dutch Civil Code,
which rights shall be transferred by operation of law under Article 6:251 of
the Dutch Civil Code to any subsequent Securityholder of this [Class B]
Preferred Security. The Securityholder, by accepting this certificate, is
deemed to have agreed to be bound by the provisions of the L.L.C. Agreement.
Upon receipt of this certificate, the Securityholder is admitted to the Company
as a [Class B] Preferred Securityholder, is bound by the L.L.C. Agreement and
is entitled to the benefits thereunder.

                                        3
<PAGE>

      IN WITNESS WHEREOF, this certificate has been executed on behalf of the
Company by a duly authorized officer as of this ____ day of _____________, ____.

                                 ABN AMRO CAPITAL FUNDING LLC [__]

                                 By: [Initial Common Securityholder]

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

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

                                 Guaranteed to the extent set forth in
                                 the [Class B] Guarantee dated ______,____.

                                 [ABN AMRO HOLDING N.V.][ABN AMRO BANK
                                       N.V.]

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

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

                       (see reverse for additional terms)

                                       4
<PAGE>

                          [FORM OF REVERSE OF SECURITY]

      Dividends payable on each [Class B] Preferred Security will be fixed at a
rate per annum of [__]% of the stated liquidation amount of $[__] per [Class B]
Preferred Security. Dividends on the [Class B] Preferred Securities will only be
made to the extent that the Company has funds legally available for the payment
of such dividends. The amount of dividends payable for any period will be
computed for any full quarterly dividend period on the basis of a 360-day year
of twelve 30-day months.

      Except as otherwise described herein, dividends on the [Class B] Preferred
Securities will be noncumulative, will accrue from the date of initial issuance
and will be payable [quarterly in arrears, on March 31, June 30, September 30
and December 31] of each year, commencing on [__], if, as and when declared by
the Company. If the Trust Preferred Securities (or, if the Trust is liquidated,
the [Class B] Preferred Securities) are in book-entry only form, dividends will
be payable to the Holders of record of [Class B] Preferred Securities as they
appear on the books and records of the Company on the relevant record dates,
which will be one Business Day prior to the relevant payment dates. If the Trust
or the Property Trustee is the Holder of the [Class B] Preferred Securities, all
distributions of cash shall be made by wire transfer of same day funds to such
Holder by 10:00 a.m., New York City time, on the applicable Dividend Payment
Date. If the Trust Preferred Securities (or, if the Trust is liquidated, the
[Class B] Preferred Securities) are not in book-entry only form, the relevant
record dates shall be the 15th day of the month of the relevant payment dates
(without regard to the next sentence). In the event that any date on which
dividends are payable is not a Business Day, payment of such dividend shall be
made on the next succeeding day which is a Business Day (without accruing any
interest or other payment to such next succeeding Business Day) except that, if
such Business Day falls in the next succeeding calendar year, such payment shall
be made on the immediately preceding Business Day (without any reduction in
interest or other amounts in respect of any such early payment).

      On [__], or on any [Class B] Dividend Payment Date after [__], the [Class
B] Preferred Securities shall be redeemable at the option of the Company, in
whole or in part, at a redemption price of $[__] per [Class B] Preferred
Security, plus Additional Amounts, if any, plus any accumulated and unpaid
dividends for the then current [Class B] Dividend Period through the date of
redemption ("Redemption Price"). If fewer than all the outstanding [Class B]
Preferred Securities are to be redeemed, then the number of [Class B] Preferred
Securities to be redeemed shall be determined by the Board of Directors, and
the securities to be redeemed shall be determined by lot or pro rata as may be
determined by the Board of Directors in its sole discretion to be equitable,
provided that such method satisfies any applicable requirements of any
securities exchange on which the [Class B] Preferred Securities or any Trust
Preferred Securities may then be listed and, if the [Class B] Preferred
Securities or Trust Preferred Securities are

                                       5
<PAGE>

then held by DTC or its nominee in the form of a global security, any applicable
requirements of DTC. The Company shall promptly notify the Registrar and
Transfer Agent for the [Class B] Preferred Securities in writing of the [Class
B] Preferred Securities selected for partial redemption and, in the case of any
[Class B] Preferred Securities selected for partial redemption, the liquidation
preference thereof to be redeemed.

      The Company shall have the right, upon the occurrence of a Special
Redemption Event, to redeem the [Class B] Preferred Securities, in whole (but
not in part), at any time, at the Redemption Price.

      Any redemption of [Class B] Preferred Securities, whether at the option of
the Company or upon the occurrence of a Special Redemption Event, shall not
require the vote or consent of any of the [Class B] Preferred Securityholders
and may be effected only with the prior approval of the Guarantor and the Dutch
Central Bank, if required. Notice of any redemption of [Class B] Preferred
Securities will be given by the Board of Directors on behalf of the Company by
mail to each [Class B] Preferred Securityholder to be redeemed not fewer than 30
nor more than 60 days before the date fixed for redemption.

      In the event that payment of the Redemption Price in respect of any [Class
B] Preferred Securities is improperly withheld or refused and not paid either by
the Company or by the Guarantor pursuant to the [Class B] Guarantee, dividends
on such [Class B] Preferred Securities shall continue to accumulate from the
date fixed for redemption to the date of actual payment of such Redemption
Price.

                                       6
<PAGE>

                                   ASSIGNMENT

      FOR VALUE RECEIVED, the undersigned assigns and transfers this [Class B]
Preferred Security Certificate to:

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
        (Insert assignee's social security or tax identification number)

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
                    (Insert address and zip code of assignee)

and irrevocably appoints

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
agent to transfer this [Class B] Preferred Security Certificate on the books of
the Company. The agent may substitute another to act for him or her.

Date:
     ---------------------------------------------------------------------------

Signature:
           ---------------------------------------------------------------------

          (Sign exactly as your name appears on the other side of this
                   [Class B] Preferred Security Certificate)

                                        7

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