Document:

EX-4.5 Form of Indenture

Exhibit 4.5

LDK
Solar Co., Ltd.

 

INDENTURE

Dated
as of                    

 

The
Bank of New York Mellon, as Trustee

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page
	ARTICLE I. DEFINITIONS AND INCORPORATION BY REFERENCE	 	 	1	 
	 
	 	Section 1.1	 	Definitions.	 	 	1	 
	 
	 	Section 1.2	 	Other Definitions.	 	 	4	 
	 
	 	Section 1.3	 	Incorporation by Reference of Trust Indenture Act.	 	 	5	 
	 
	 	Section 1.4	 	Rules of Construction.	 	 	5	 
	ARTICLE II. THE SECURITIES	 	 	6	 
	 

	 	Section 2.1	 	Issuable in Series.	 	 	6	 
	 
	 	Section 2.2	 	Establishment of Terms of Series of Securities.	 	 	6	 
	 
	 	Section 2.3	 	Execution and Authentication.	 	 	8	 
	 
	 	Section 2.4	 	Registrar and Paying Agent.	 	 	9	 
	 
	 	Section 2.5	 	Paying Agent to Hold Money in Trust.	 	 	10	 
	 
	 	Section 2.6	 	Securityholder Lists.	 	 	10	 
	 

	 	Section 2.7	 	Transfer and Exchange.	 	 	10	 
	 
	 	Section 2.8	 	Mutilated, Destroyed, Lost and Stolen Securities.	 	 	11	 
	 
	 	Section 2.9	 	Outstanding Securities.	 	 	11	 
	 
	 	Section 2.10	 	Treasury Securities.	 	 	12	 
	 
	 	Section 2.11	 	Temporary Securities.	 	 	12	 
	 
	 	Section 2.12	 	Cancellation.	 	 	12	 
	 
	 	Section 2.13	 	Defaulted Interest.	 	 	12	 
	 
	 	Section 2.14	 	Global Securities.	 	 	13	 
	 
	 	Section 2.15	 	CUSIP Numbers.	 	 	14	 
	 
	 	Section 2.16	 	Deposit of Moneys	 	 	14	 
	ARTICLE III. REDEMPTION	 	 	14	 
	 
	 	Section 3.1	 	Notice to Trustee.	 	 	14	 
	 
	 	Section 3.2	 	Selection of Securities to be Redeemed.	 	 	14	 
	 
	 	Section 3.3	 	Notice of Redemption.	 	 	15	 
	 
	 	Section 3.4	 	Effect of Notice of Redemption.	 	 	15	 
	 
	 	Section 3.5	 	Deposit of Redemption Price.	 	 	15	 
	 
	 	Section 3.6	 	Securities Redeemed in Part.	 	 	15	 
	ARTICLE IV. COVENANTS	 	 	16	 
	 
	 	Section 4.1	 	Payment of Principal and Interest.	 	 	16	 
	 
	 	Section 4.2	 	SEC Reports.	 	 	16	 
	 
	 	Section 4.3	 	Compliance Certificate.	 	 	16	 
	 
	 	Section 4.4	 	Stay, Extension and Usury Laws.	 	 	16	 
	 
	 	Section 4.5	 	Corporate Existence.	 	 	17	 
	ARTICLE V. SUCCESSORS	 	 	17	 
	 
	 	Section 5.1	 	When Company May Merge, Etc.	 	 	17	 
	 
	 	Section 5.2	 	Successor Corporation Substituted.	 	 	17	 

ii 

 

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page
	ARTICLE VI. DEFAULTS AND REMEDIES	 	 	18	 
	 
	 	Section 6.1	 	Events of Default.	 	 	18	 
	 
	 	Section 6.2	 	Acceleration of Maturity; Rescission and Annulment.	 	 	19	 
	 
	 	Section 6.3	 	Collection of Indebtedness and Suits for Enforcement by Trustee.	 	 	19	 
	 
	 	Section 6.4	 	Trustee May File Proofs of Claim.	 	 	20	 
	 
	 	Section 6.5	 	Trustee May Enforce Claims Without Possession of Securities.	 	 	21	 
	 
	 	Section 6.6	 	Application of Money Collected.	 	 	21	 
	 
	 	Section 6.7	 	Limitation on Suits.	 	 	21	 
	 
	 	Section 6.8	 	Unconditional Right of Holders to Receive Principal and Interest.	 	 	22	 
	 
	 	Section 6.9	 	Restoration of Rights and Remedies.	 	 	22	 
	 
	 	Section 6.10	 	Rights and Remedies Cumulative.	 	 	22	 
	 
	 	Section 6.11	 	Delay or Omission Not Waiver.	 	 	22	 
	 
	 	Section 6.12	 	Control by Holders.	 	 	23	 
	 
	 	Section 6.13	 	Waiver of Past Defaults.	 	 	23	 
	 
	 	Section 6.14	 	Undertaking for Costs.	 	 	23	 
	ARTICLE VII. TRUSTEE	 	 	24	 
	 
	 	Section 7.1	 	Duties of Trustee.	 	 	24	 
	 
	 	Section 7.2	 	Rights of Trustee.	 	 	25	 
	 
	 	Section 7.3	 	Individual Rights of Trustee.	 	 	26	 
	 
	 	Section 7.4	 	Trustee’s Disclaimer.	 	 	26	 
	 
	 	Section 7.5	 	Notice of Defaults.	 	 	27	 
	 
	 	Section 7.6	 	Reports by Trustee to Holders.	 	 	27	 
	 
	 	Section 7.7	 	Compensation and Indemnity.	 	 	27	 
	 
	 	Section 7.8	 	Replacement of Trustee.	 	 	28	 
	 
	 	Section 7.9	 	Successor Trustee by Merger, etc.	 	 	29	 
	 
	 	Section 7.10	 	Eligibility; Disqualification.	 	 	29	 
	 
	 	Section 7.11	 	Preferential Collection of Claims Against Company.	 	 	29	 
	ARTICLE VIII. SATISFACTION AND DISCHARGE; DEFEASANCE	 	 	29	 
	 
	 	Section 8.1	 	Satisfaction and Discharge of Indenture.	 	 	29	 
	 
	 	Section 8.2	 	Application of Trust Funds; Indemnification.	 	 	30	 
	 
	 	Section 8.3	 	Legal Defeasance of Securities of any Series.	 	 	31	 
	 
	 	Section 8.4	 	Covenant Defeasance.	 	 	32	 
	 
	 	Section 8.5	 	Repayment to Company.	 	 	33	 
	ARTICLE IX. AMENDMENTS AND WAIVERS	 	 	34	 
	 
	 	Section 9.1	 	Without Consent of Holders.	 	 	34	 
	 
	 	Section 9.2	 	With Consent of Holders.	 	 	34	 
	 
	 	Section 9.3	 	Limitations.	 	 	35	 
	 
	 	Section 9.4	 	Compliance with Trust Indenture Act.	 	 	35	 
	 
	 	Section 9.5	 	Revocation and Effect of Consents.	 	 	35	 
	 
	 	Section 9.6	 	Notation on or Exchange of Securities.	 	 	36	 
	 
	 	Section 9.7	 	Trustee Protected.	 	 	36	 

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	 	 	 	 	 	 	Page
	ARTICLE X. MISCELLANEOUS	 	 	36	 
	 

	 	Section 10.1
	 	Trust Indenture Act Controls.
	 	 	36	 
	 

	 	Section 10.2	 	Notices.	 	 	36	 
	 

	 	Section 10.3	 	Communication by Holders with Other Holders.	 	 	37	 
	 
	 	Section 10.4	 	Certificate and Opinion as to Conditions Precedent.	 	 	37	 
	 

	 	Section 10.5	 	Statements Required in Certificate or Opinion.	 	 	37	 
	 

	 	Section 10.6	 	Rules by Trustee and Agents.	 	 	38	 
	 

	 	Section 10.7	 	Legal Holidays.	 	 	38	 
	 

	 	Section 10.8	 	No Recourse Against Others.	 	 	38	 
	 

	 	Section 10.9	 	Counterparts.	 	 	38	 
	 

	 	Section 10.10	 	Governing Laws.	 	 	38	 
	 

	 	Section 10.11	 	No Adverse Interpretation of Other Agreements.	 	 	38	 
	 

	 	Section 10.12	 	Successors.	 	 	39	 
	 

	 	Section 10.13	 	Severability.	 	 	39	 
	 

	 	Section 10.14	 	Table of Contents, Headings, Etc.	 	 	39	 
	 

	 	Section 10.15	 	Securities in a Foreign Currency or in ECU.	 	 	39	 
	 

	 	Section 10.16	 	Judgment Currency.	 	 	40	 
	ARTICLE XI. SINKING FUNDS	 	 	40	 
	 

	 	Section 11.1
	 	Applicability of Article.	 	 	40	 
	 

	 	Section 11.2	 	Satisfaction of Sinking Fund Payments with Securities.	 	 	40	 
	 
	 	Section 11.3	 	Redemption of Securities for Sinking Fund.	 	 	41	 

iv 

 

LDK Solar
Co., Ltd.

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

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

	 	 	 
	§ 310(a)(1)
	 	7.10
	(a)(2)
	 	7.10
	(a)(3)
	 	Not Applicable
	(a)(4)
	 	Not Applicable
	(a)(5)
	 	7.10
	(b)
	 	7.10
	§ 311(a)
	 	7.11
	(b)
	 	7.11
	(c)
	 	Not Applicable
	§ 312(a)
	 	2.6
	(b)
	 	10.3
	(c)
	 	10.3
	§ 313(a)
	 	7.6
	(b)(1)
	 	7.6
	(b)(2)
	 	7.6
	(c)(1)
	 	7.6
	(d)
	 	7.6
	§ 314(a)
	 	4.2, 10.5
	(b)
	 	Not Applicable
	(c)(1)
	 	10.4
	(c)(2)
	 	10.4
	(c)(3)
	 	Not Applicable
	(d)
	 	Not Applicable
	(e)
	 	10.5
	(f)
	 	Not Applicable
	§ 315(a)
	 	7.1
	(b)
	 	7.5
	(c)
	 	7.1
	(d)
	 	7.1
	(e)
	 	6.14
	§ 316(a)
	 	2.10
	(a)(1)(A)
	 	6.12
	(a)(1)(B)
	 	6.13
	(b)
	 	6.8
	§ 317(a)(1)
	 	6.3
	(a)(2)
	 	6.4
	(b)
	 	2.5
	§ 318(a)
	 	10.1

 

 

     Indenture
dated as of                     between
LDK Solar Co., Ltd., an exempted company incorporated in
the Cayman Islands (“Company”), and The Bank of New York Mellon, a banking corporation organized under the laws of the
State of New York (“Trustee”).

     Each party agrees as follows for the benefit of the other party and for the equal and ratable
benefit of the Holders of the Securities issued under this Indenture.

ARTICLE I.

DEFINITIONS AND INCORPORATION BY REFERENCE

Section 1.1     Definitions.

     “Additional Amounts” means any additional amounts which are required hereby or by any
Security, under circumstances specified herein or therein, to be paid by the Company in respect of
certain taxes imposed on Holders specified herein or therein and which are owing to such Holders.

     “Affiliate” of any specified person means any other person directly or indirectly controlling
or controlled by or under common control with such specified person. For the purposes of this
definition, “control” (including, with correlative meanings, the terms “controlled by” and “under
common control with”), as used with respect to any person, shall mean the possession, directly or
indirectly, of the power to direct or cause the direction of the management or policies of such
person, whether through the ownership of voting securities or by agreement or otherwise.

     “Agent” means any Registrar, Paying Agent or Service Agent.

     “Board of Directors” means the Board of Directors of the Company or any duly authorized
committee thereof.

     “Board Resolution” means a copy of a resolution certified by
the Secretary or a member of the Board of Directors of the Company to have been adopted by the Board of Directors or pursuant to
authorization by the Board of Directors and to be in full force and effect on the date of the certificate and delivered to the Trustee.

     “Business Day” means, unless otherwise provided by Board Resolution, Officers’ Certificate or
supplemental indenture hereto for a particular Series, any day except a Saturday, Sunday or a legal
holiday in The City of New York on which banking institutions are authorized or required by law,
regulation or executive order to close or a day the Corporate Trust Office is closed.

     “Capital Stock” means any and all shares, interests, participations, rights or other
equivalents (however designated) of corporate stock.

     “Company” means the party named as such above until a successor replaces it and thereafter
means the successor.

1

 

     "Company Order” means a written order signed in the name of the Company by two Officers, one
of whom must be the Company’s principal executive officer, principal financial officer or principal
accounting officer.

     "Company Request” means a written request signed in the name of the Company by its Chairman,
its Chief Executive Officer, or any Vice President and by its Chief Financial Officer and delivered
to the Trustee.

     "Corporate Trust Office” means the office of the Trustee at which at any particular time its
corporate trust business shall be principally administered.

     "Default” means any event which is, or after notice or passage of time or both would be, an
Event of Default.

     "Depositary” means, with respect to the Securities of any Series issuable or issued in whole
or in part in the form of one or more Global Securities, the person designated as Depositary for
such Series by the Company, which Depositary shall be a clearing agency registered under the Exchange Act; and if at any time there is more than one such person,
“Depositary” as used with respect to the Securities of any Series shall mean the Depositary with
respect to the Securities of such Series.

     "Discount Security” means any Security that provides for an amount less than the stated
principal amount thereof to be due and payable upon declaration of acceleration of the maturity
thereof pursuant to Section 6.2.

     "Dollars” and “$” means the currency of The United States of America.

     "ECU” means the European Currency Unit as determined by the Commission of the European Union.

     "Exchange Act” means the Securities Exchange Act of 1934, as amended.

     "Foreign Currency” means any currency or currency unit issued by a government other than the
government of The United States of America.

     "Foreign Government Obligations” means, with respect to Securities of any Series that are
denominated in a Foreign Currency, (i) direct obligations of the government that issued or caused
to be issued such currency for the payment of which obligations its full faith and credit is
pledged or (ii) obligations of a person controlled or supervised by or acting as an agency or
instrumentality of such government the timely payment of which is unconditionally guaranteed as a
full faith and credit obligation by such government, which, in either case under clauses (i) or
(ii), are not callable or redeemable at the option of the issuer thereof.

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

2

 

     “Global Security” or “Global Securities” means a Security or Securities, as the case may be,
in the form established pursuant to Section 2.2 evidencing all or part of a Series of Securities,
issued to the Depositary for such Series or its nominee, and registered in the name of such
Depositary or nominee.

     “Holder” or “Securityholder” means a person in whose name a Security is registered.

     “Indenture” means this Indenture as amended or supplemented from time to time and shall include the
form and terms of particular Series of Securities established as contemplated hereunder.

     “interest” with respect to any Discount Security which by its terms bears interest only after
Maturity, means interest payable after Maturity.

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

     “Officer” means the Chairman, the Chief Executive Officer, any Vice President, or the Chief
Financial Officer of the Company.

     “Officers’ Certificate” means a certificate signed by two Officers, one of whom must be the
Company’s principal executive officer, principal financial officer or principal accounting officer.

     “Opinion of Counsel” means a written opinion of legal counsel, which opinion, is acceptable to
the Trustee. The counsel may be an employee of or counsel to the Company.

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

     “principal” of a Security means the principal of the Security plus, when appropriate, the
premium, if any, on, and any Additional Amounts in respect of, the Security.

     “Responsible Officer” means any officer of the Trustee in its Corporate Trust Office and also
means, with respect to a particular corporate trust matter, any other officer to whom any corporate
trust matter is referred because of his or her knowledge of and familiarity with a particular
subject and who shall in each case have direct responsibility for the administration of this
Indenture.

     “SEC” means the Securities and Exchange Commission.

     “Securities” means the debentures, notes or other debt instruments of the Company of any
Series authenticated and delivered under this Indenture.

     “Series” or “Series of Securities” means each series of debentures, notes or other debt
instruments of the Company created pursuant to Sections 2.1 and 2.2 hereof.

3

 

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

     “Subsidiary” of any specified person means any corporation, association or other business
entity of which more than 50% of the total voting power of shares of Capital Stock entitled
(without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time owned or controlled, directly or
indirectly, by such person or one or more of the other Subsidiaries of that person or a combination
thereof.

     “TIA” means the Trust Indenture Act of 1939 (15 U.S. Code §§ 77aaa-77bbbb) as in effect on the
date of this Indenture; provided, however, that in the event the Trust Indenture Act of 1939 is
amended after such date, “TIA” means, to the extent required by any such amendment, the Trust
Indenture Act as so amended.

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

     “U.S. Government Obligations” means securities which are (i) direct obligations of The United
States of America for the payment of which its full faith and credit is pledged or (ii) obligations
of a person controlled or supervised by and acting as an agency or instrumentality of The United
States of America the payment of which is unconditionally guaranteed as a full faith and credit
obligation by The United States of America, and which in the case of (i) and (ii) are not callable or redeemable at the option of the issuer thereof, and shall also include a
depository receipt issued by a bank or trust company as custodian with respect to any such U.S.
Government Obligation or a specific payment of interest on or principal of any such U.S. Government
Obligation held by such custodian for the account of the holder of a depository receipt, provided
that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depository receipt
from any amount received by the custodian in respect of the U.S. Government Obligation evidenced by
such depository receipt.

Section 1.2     Other Definitions.

	 	 	 
	TERM	 	DEFINED IN SECTION
	“Bankruptcy Law”
	 	6.1
	“Custodian”
	 	6.1
	“Event of Default”
	 	6.1
	“Journal”
	 	10.15
	“Judgment Currency”
	 	10.16
	“Legal Holiday”
	 	10.7
	“mandatory sinking fund payment”
	 	11.1
	“Market Exchange Rate”
	 	10.15

4

 

	 	 	 
	TERM	 	DEFINED IN SECTION
	"New York Banking Day”
	 	10.16
	"optional sinking fund payment”
	 	11.1
	"Paying Agent”
	 	2.4
	"Registrar”
	 	2.4
	"Required Currency”
	 	10.16
	"Service Agent”
	 	2.4
	"successor person”
	 	5.1

Section 1.3     Incorporation by Reference of Trust Indenture Act.

     Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by
reference in and made a part of this Indenture. The following TIA terms used in this Indenture have
the following meanings:

     "Commission” means the SEC.

     "indenture securities” means the Securities.

     "indenture security holder” means a Securityholder.

     "indenture to be qualified” means this Indenture.

     "indenture trustee” or “institutional trustee” means the Trustee.

     "obligor” on the indenture securities means the Company and any successor obligor upon the
Securities.

     All other terms used in this Indenture that are defined by the TIA, defined by TIA reference
to another statute or defined by SEC rule under the TIA and not otherwise defined herein are used
herein as so defined.

Section 1.4     Rules of Construction.

     Unless the context otherwise requires:

	 	(a)	 	a term has the meaning assigned to it;
	 
	 	(b)	 	an accounting term not otherwise defined has the meaning assigned to it in
accordance with GAAP;
	 
	 	(c)	 	“or” is not exclusive;
	 
	 	(d)	 	words in the singular include the plural, and in the plural include the
singular; and
	 
	 	(e)	 	provisions apply to successive events and transactions.

5

 

ARTICLE II.

THE SECURITIES

Section 2.1     Issuable in Series.

     The aggregate principal amount of Securities that may be authenticated and delivered under
this Indenture is unlimited. The Securities may be issued in one or more Series. All Securities of
a Series shall be identical except as may be set forth or determined in the manner provided in a
Board Resolution, supplemental indenture or Officers’ Certificate detailing the adoption of the
terms thereof pursuant to authority granted under a Board Resolution. In the case of Securities of
a Series to be issued from time to time, the Board Resolution, Officers’ Certificate or
supplemental indenture detailing the adoption of the terms thereof pursuant to authority granted
under a Board Resolution may provide for the method by which specified terms (such as interest
rate, maturity date, record date or date from which interest shall accrue) are to be determined.
Securities may differ between Series in respect of any matters, provided that all Series of
Securities shall be equally and ratably entitled to the benefits of the Indenture.

Section 2.2     Establishment of Terms of Series of Securities.

     At or prior to the issuance of any Securities within a Series, the following shall be
established (as to the Series generally, in the case of Subsection 2.2.1 and either as to such
Securities within the Series or as to the Series generally in the case of Subsections 2.2.2 through
2.2.21) by or pursuant to a Board Resolution, and set forth or determined in the manner provided in
a Board Resolution, supplemental indenture or Officers’ Certificate:

     2.2.1. the title of the Series (which shall distinguish the Securities of that particular
Series from the Securities of any other Series);

     2.2.2. the price or prices (expressed as a percentage of the principal amount thereof) at
which the Securities of the Series will be issued;

     2.2.3. any limit upon the aggregate principal amount of the Securities of the Series which may
be authenticated and delivered under this Indenture (except for Securities authenticated and
delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of
the Series pursuant to Section 2.7, 2.8, 2.11, 3.6 or 9.6);

     2.2.4. the date or dates on which the principal of the Securities of the Series is payable;

     2.2.5. the rate or rates (which may be fixed or variable) per annum or, if applicable, the
method used to determine such rate or rates (including, but not limited to, any commodity,
commodity index, stock exchange index or financial index) at which the Securities of the Series
shall bear interest, if any, the date or dates from which such interest, if any, shall accrue, the
date or dates on which such interest, if any, shall commence and be payable and any regular record
date for the interest payable on any interest payment date;

6

 

     2.2.6. the place or places where the principal of and interest, if any, on the Securities of
the Series shall be payable, where the Securities of such Series may be surrendered for
registration of transfer or exchange and where notices and demands to or upon the Company in
respect of the Securities of such Series and this Indenture may be served, and the method of such
payment, if by wire transfer, mail or other means;

     2.2.7. if applicable, the period or periods within which, the price or prices at which and the
terms and conditions upon which the Securities of the Series may be redeemed, in whole or in part,
at the option of the Company;

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

     2.2.9. the dates, if any, on which and the price or prices at which the Securities of the
Series will be repurchased by the Company at the option of the Holders thereof and other detailed
terms and provisions of such repurchase obligations;

     2.2.10. if other than denominations of $1,000 and any integral multiple thereof, the
denominations in which the Securities of the Series shall be issuable;

     2.2.11. the forms of the Securities of the Series and whether the Securities will be issuable
as Global Securities;

     2.2.12. if other than the principal amount thereof, the portion of the principal amount of the
Securities of the Series that shall be payable upon declaration of acceleration of the maturity
thereof pursuant to Section 6.2;

     2.2.13. the currency of denomination of the Securities of the Series, which may be Dollars or
any Foreign Currency, including, but not limited to, the ECU, and if such currency of denomination
is a composite currency other than the ECU, the agency or organization, if any, responsible for
overseeing such composite currency;

     2.2.14. the designation of the currency, currencies or currency units in which payment of the
principal of and interest, if any, on the Securities of the Series will be made;

     2.2.15. if payments of principal of or interest, if any, on the Securities of the Series are
to be made in one or more currencies or currency units other than that or those in which such
Securities are denominated, the manner in which the exchange rate with respect to such payments
will be determined;

     2.2.16. the manner in which the amounts of payment of principal of or interest, if any, on the
Securities of the Series will be determined, if such amounts may be determined by reference to an
index based on a currency or currencies or by reference to a commodity, commodity index, stock
exchange index or financial index;

     2.2.17. the provisions, if any, relating to any security provided for the Securities of the
Series;

7

 

     2.2.18. any addition to or change in the Events of Default which applies to any Securities of
the Series and any change in the right of the Trustee or the requisite Holders of such Securities
to declare the principal amount thereof due and payable pursuant to Section 6.2;

     2.2.19. any addition to or change in the covenants set forth in Articles IV or V which applies
to Securities of the Series;

     2.2.20. any other terms of the Securities of the Series (which may supplement, modify or
delete any provision of this Indenture insofar as it applies to such Series); and

     2.2.21. any depositaries, interest rate calculation agents, exchange rate calculation agents
or other agents with respect to Securities of such Series if other than those appointed herein.

     All Securities of any one Series need not be issued at the same time and may be issued from
time to time, consistent with the terms of this Indenture, if so provided by or pursuant to the
Board Resolution, supplemental indenture hereto or Officers’ Certificate referred to above.

Section 2.3     Execution and Authentication.

     Two Officers shall sign the Securities for the Company by manual or facsimile signature.

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

     A Security shall not be valid until authenticated by the manual or facsimile signature of the
Trustee or an authenticating agent. The signature shall be conclusive evidence that the Security
has been authenticated under this Indenture.

     The Trustee shall at any time, and from time to time, authenticate Securities for original
issue in the principal amount provided in the Board Resolution, supplemental indenture hereto or
Officers’ Certificate, upon receipt by the Trustee of a Company Order. Each Security shall be dated the date of its authentication unless otherwise provided by a
Board Resolution, a supplemental indenture hereto or an Officers’ Certificate.

     The aggregate principal amount of Securities of any Series outstanding at any time may not
exceed any limit upon the maximum principal amount for such Series set forth in the Board
Resolution, supplemental indenture hereto or Officers’ Certificate delivered pursuant to Section
2.2, except as provided in Section 2.8.

     Prior to the issuance of Securities of any Series, the Trustee shall have received and
(subject to Section 7.2) shall be fully protected in relying on: (a) the Board Resolution,
supplemental indenture hereto or Officers’ Certificate establishing the form of the Securities of
that Series or of Securities within that Series and the terms of the Securities of that Series

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or of Securities within that Series, (b) an Officers’ Certificate complying with Section 10.4,
and (c) an Opinion of Counsel complying with Section 10.4.

     The Trustee shall have the right to decline to authenticate and deliver any Securities of such
Series: (a) if the Trustee, being advised by counsel, determines that such action may not be taken
lawfully; or (b) if the Trustee in good faith by a trust
committee of Responsible Officers shall determine that such action
would expose the Trustee to personal liability to Holders of any then outstanding Series of
Securities.

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

Section 2.4     Registrar and Paying Agent.

     The Company shall maintain, with respect to each Series of Securities, at the place or places
specified with respect to such Series pursuant to Section 2.2, an office or agency where Securities
of such Series may be presented or surrendered for payment (“Paying Agent”), where Securities of
such Series may be surrendered for registration of transfer or exchange (“Registrar”) and where
notices and demands to or upon the Company in respect of the Securities of such Series and this
Indenture may be served (“Service Agent”). The Trustee or Service Agent, as applicable, shall
deliver such notices and demands to the Company in accordance with Section 10.2 hereof. The
Registrar shall keep a register with respect to each Series of Securities and to their transfer and
exchange. The Company will give prompt written notice to the Trustee of the name and address, and
any change in the name or address, of each Registrar, Paying Agent or Service Agent. If at any time
the Company shall fail to maintain any such required Registrar, Paying Agent or Service Agent or
shall fail to furnish the Trustee with the name and address thereof, such presentations,
surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee,
and the Company hereby appoints the Trustee as its agent to receive all such presentations,
surrenders, notices and demands.

     The Company may also from time to time designate one or more co-registrars, additional paying
agents or additional service agents and may from time to time rescind such designations; provided,
however, that no such designation or rescission shall in any manner relieve the Company of its
obligations to maintain a Registrar, Paying Agent and Service Agent in each place so specified
pursuant to Section 2.2 for Securities of any Series for such purposes. The Company will give
prompt written notice to the Trustee of any such designation or rescission and of any change in the
name or address of any such co-registrar, additional paying agent or additional service agent. The
term “Registrar” includes any co-registrar; the term “Paying Agent” includes any additional paying
agent; and the term “Service Agent” includes any additional service agent.

     The Company hereby appoints the Trustee the initial Registrar, Paying Agent and Service Agent
for each Series unless another Registrar, Paying Agent or Service Agent, as the case may be, is
appointed prior to the time Securities of that Series are first issued.

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     The Company hereby appoints The Depository Trust Company to act as Depositary with respect to
the Securities.

Section 2.5     Paying Agent to Hold Money in Trust.

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

Section 2.6     Securityholder Lists.

     The 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 Securityholders of each Series of Securities and
shall otherwise comply with TIA § 312(a). If the Trustee is not the Registrar, the Company shall
furnish to the Trustee at least ten days before each interest payment date and at such other times
as the Trustee may request in writing a list, in such form and as of such date as the Trustee may
reasonably require, of the names and addresses of Securityholders of each Series of Securities.

Section 2.7     Transfer and Exchange.

     Where Securities of a Series are presented to the Registrar or a co-registrar with a request
to register a transfer or to exchange them for an equal principal amount of Securities of the same
Series, the Registrar shall register the transfer or make the exchange if its requirements for such
transactions are met. To permit registrations of transfers and exchanges, the Trustee shall
authenticate Securities upon receipt of a Company Order. No service charge shall be made for any
registration of transfer or exchange (except as otherwise expressly permitted herein), but the
Company may require payment of a sum sufficient to cover any transfer tax or similar governmental
charge payable in connection therewith (other than any such transfer tax or similar governmental
charge payable upon exchanges pursuant to Sections 2.11, 3.6 or 9.6).

     Neither the Company nor the Registrar shall be required (a) to issue, register the transfer
of, or exchange Securities of any Series for the period beginning at the opening of business
fifteen days immediately preceding the mailing of a notice of redemption of Securities of that
Series selected for redemption and ending at the close of business on the day of such mailing, or
(b) to register the transfer of or exchange Securities of any Series selected, called or being
called for redemption as a whole or the portion being redeemed of any such Securities selected,
called or being called for redemption in part.

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Section 2.8     Mutilated, Destroyed, Lost and Stolen Securities.

     If any mutilated Security is surrendered to the Trustee, the Company shall execute and the
Trustee, upon receipt of a Company Order, shall authenticate and deliver in exchange therefor a new
Security of the same Series and of like tenor and principal amount and bearing a number not
contemporaneously outstanding.

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

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

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

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

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

Section 2.9     Outstanding Securities.

     The Securities outstanding at any time are all the Securities authenticated by the Trustee
except for those canceled by it, those delivered to it for cancellation, those reductions in the
interest on a Global Security effected by the Trustee in accordance with the provisions hereof and
those described in this Section as not outstanding.

     If a Security is replaced pursuant to Section 2.8, it ceases to be outstanding until the
Trustee receives proof satisfactory to it that the replaced Security is held by a bona fide
purchaser.

     If the Paying Agent (other than the Company, a Subsidiary of the Company or an Affiliate of
the Company) holds on the Maturity of Securities of a Series money sufficient to pay such
Securities payable on that date, then on and after that date such Securities of the Series cease to
be outstanding and interest on them ceases to accrue.

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     A Security does not cease to be outstanding because the Company or an Affiliate of the Company
holds the Security.

     In determining whether the Holders of the requisite principal amount of outstanding Securities
have given any request, demand, authorization, direction, notice, consent or waiver hereunder, the
principal amount of a Discount Security that shall be deemed to be outstanding for such purposes
shall be the amount of the principal thereof that would be due and payable as of the date of such
determination upon a declaration of acceleration of the Maturity thereof pursuant to Section 6.2.

Section 2.10     Treasury Securities.

     In determining whether the Holders of the required principal amount of Securities of a Series
have concurred in any request, demand, authorization, direction, notice, consent or waiver,
Securities of a Series owned by the Company or any Affiliate of the Company shall be disregarded,
except that for the purposes of determining whether the Trustee shall be protected in relying on
any such request, demand, authorization, direction, notice, consent or waiver only Securities of a
Series that the Trustee knows are so owned shall be so disregarded.

Section 2.11     Temporary Securities.

     Until definitive Securities are ready for delivery, the Company may prepare and the Trustee,
upon receipt of a Company Order, shall authenticate temporary Securities upon a Company Order.
Temporary Securities shall be substantially in the form of definitive Securities but may have
variations that the Company considers appropriate for temporary Securities. Without unreasonable
delay, the Company shall prepare and the Trustee, upon receipt of a Company Order, shall
authenticate definitive Securities of the same Series and date of maturity in exchange for
temporary Securities. Until so exchanged, temporary securities shall have the same rights under
this Indenture as the definitive Securities.

Section 2.12     Cancellation.

     The Company at any time may deliver Securities to the Trustee for cancellation. The Registrar
and the Paying Agent shall forward to the Trustee any Securities surrendered to them for
registration of transfer, exchange or payment. Upon receipt of written instruction from the
Company, the Trustee shall cancel all Securities surrendered for transfer, exchange, payment,
replacement or cancellation and shall destroy such canceled Securities and deliver a certificate of
such destruction to the Company, unless the Company otherwise directs. The Company may not issue
new Securities to replace Securities that it has paid or delivered to the Trustee for cancellation.

Section 2.13     Defaulted Interest.

     If the Company defaults in a payment of interest on a Series of Securities, it shall pay the
defaulted interest, plus, to the extent permitted by law, any interest payable on the defaulted
interest, to the persons who are Securityholders of the Series on a subsequent special record date.
The Company shall fix the record date and payment date. At least 10 days before the record date,
the Company shall mail to the Trustee and to each Securityholder of the Series a notice that states
the record date, the payment date and the amount of interest to be paid. The Company may pay
defaulted interest in any other lawful manner.

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Section 2.14     Global Securities.

     2.14.1. Terms of Securities. A Board Resolution, a supplemental indenture hereto or an
Officers’ Certificate shall establish whether the Securities of a Series shall be issued in whole
or in part in the form of one or more Global Securities and the Depositary for such Global Security
or Securities.

     2.14.2. Transfer and Exchange. Notwithstanding any provisions to the contrary
contained in Section 2.7 of the Indenture and in addition thereto, any Global Security shall be
exchangeable pursuant to Section 2.7 of the Indenture for Securities registered in the names of
Holders other than the Depositary for such Security or its nominee only if (i) such Depositary
notifies the Company that it is unwilling or unable to continue as Depositary for such Global
Security or if at any time such Depositary ceases to be a clearing agency registered under the
Exchange Act, and, in either case, the Company fails to appoint a successor Depositary registered
as a clearing agency under the Exchange Act within 90 days of such event or (ii) the Company
executes and delivers to the Trustee an Officers’ Certificate to the effect that such Global
Security shall be so exchangeable. Any Global Security that is exchangeable pursuant to the
preceding sentence shall be exchangeable for Securities registered in such names as the Depositary
shall direct in writing in an aggregate principal amount equal to the principal amount of the
Global Security with like tenor and terms.

     Except as provided in this Section 2.14.2, a Global Security may not be transferred except as
a whole by the Depositary with respect to such Global Security to a nominee of such Depositary, by
a nominee of such Depositary to such Depositary or another nominee of such Depositary or by the
Depositary or any such nominee to a successor Depositary or a nominee of such a successor
Depositary.

     The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance
with any restrictions on transfer imposed under this Indenture or under applicable law with respect
to any transfer of any interest in any Security other than to require delivery of such certificates
and other documentation or evidence as are expressly required by, and to do so if and when
expressly required by the terms of, this Indenture, and to examine the same to determine
substantial compliance as to form with the express requirements hereof.

     2.14.3. Legend. Any Global Security issued hereunder shall bear a legend in
substantially the following form:

     “This Security is a Global Security within the meaning of the Indenture hereinafter referred
to and is registered in the name of the Depositary or a nominee of the Depositary. This Security is
exchangeable for Securities registered in the name of a person other than the Depositary or its
nominee only in the limited circumstances described in the Indenture, and may not be transferred
except as a whole by the Depositary to a nominee of the Depositary, by a nominee of the Depositary
to the Depositary or another nominee of the Depositary or by the Depositary or any such nominee to
a successor Depositary or a nominee of such a successor Depositary.”

     2.14.4. Acts of Holders. The Depositary, as a Holder, may appoint agents and otherwise
authorize participants to give or take any request, demand, authorization, direction, notice,
consent, waiver or other action which a Holder is entitled to give or take under the Indenture.

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     2.14.5. Payments. Notwithstanding the other provisions of this Indenture, unless
otherwise specified as contemplated by Section 2.2, payment of the principal of and interest, if
any, on any Global Security shall be made to the Holder thereof.

     2.14.6. Consents, Declaration and Directions. Except as provided in Section 2.14.5,
the Company, the Trustee and any Agent shall treat a person as the Holder of such principal amount
of outstanding Securities of such Series represented by a Global Security as shall be specified in
a written statement of the Depositary with respect to such Global Security, for purposes of
obtaining any consents, declarations, waivers or directions required to be given by the Holders
pursuant to this Indenture.

Section 2.15     CUSIP Numbers.

     The Company in issuing the Securities may use “CUSIP” numbers (if then generally in use), and,
if so, the Trustee shall use “CUSIP” numbers in notices of redemption as a convenience to Holders;
provided that any such notice may state that no representation is made as to the
correctness of such numbers either as printed on the Securities or as contained in any notice of a
redemption and that reliance may be placed only on the other elements of identification printed on
the Securities, and any such redemption shall not be affected by any defect in or omission of such
numbers.

Section 2.16     Deposit
of Moneys.

     Prior to 10:00 A.M.,
New York City time, at least one (1) Business Day prior to each
interest payment date, maturity date,
redemption date or repurchase date, the Company shall have
deposited with a Paying Agent (or, if the Company is acting as its own Paying
Agent, segregate and hold in trust in accordance with Section 2.5) money, in
funds immediately available on such date, sufficient to make cash payments, if
any, due on such interest payment date, maturity date, redemption
date or repurchase date, as the case may be, in a
timely manner which permits the Paying Agent to remit payment to the Holders on
such interest payment date, maturity date, redemption date or
repurchase date, as the case may be.

ARTICLE III.

REDEMPTION

Section 3.1     Notice to Trustee.

     The Company may, with respect to any Series of Securities, reserve the right to redeem and pay
the Series of Securities or may covenant to redeem and pay the Series of Securities or any part
thereof prior to the Stated Maturity thereof at such time and on such terms as provided for in such
Securities. If a Series of Securities is redeemable and the Company wants or is obligated to redeem
prior to the Stated Maturity thereof all or part of the Series of Securities pursuant to the terms
of such Securities, it shall notify the Trustee of the redemption date and the principal amount of
Series of Securities to be redeemed. The Company shall give the Trustee notice at least 45 days
before the redemption date (or such shorter notice as may be acceptable to the Trustee).

Section 3.2     Selection of Securities to be Redeemed.

     Unless otherwise indicated for a particular Series by a Board Resolution, a supplemental
indenture hereto or an Officers’ Certificate, if less than all the Securities of a Series are to be
redeemed, the Trustee shall select the Securities of the Series to be redeemed in any manner that
the Trustee deems fair and appropriate and in accordance with its customary practices or the
selection shall be in accordance with DTC procedures, as applicable. The Trustee shall make the
selection from Securities of the Series outstanding not previously called for redemption. The
Trustee may select for redemption portions of the principal of Securities of the Series that have
denominations larger than $1,000. Securities of the Series and portions of them it selects shall be
in amounts of $1,000 or whole multiples of $1,000 or, with respect to Securities of any Series
issuable in other denominations pursuant to

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Section 2.2.10, the minimum principal denomination for each Series and integral multiples
thereof. Provisions of this Indenture that apply to Securities of a Series called for redemption
also apply to portions of Securities of that Series called for redemption.

Section 3.3     Notice of Redemption.

     Unless otherwise indicated for a particular Series by Board Resolution, a supplemental
indenture hereto or an Officers’ Certificate, at least 15 days but not more than 60 days before a
redemption date, the Company shall mail a notice of redemption by first-class mail to each Holder
whose Securities are to be redeemed.

     The notice shall identify the Securities of the Series to be redeemed and shall state:

	 	(a)	 	the redemption date;
	 
	 	(b)	 	the redemption price;
	 
	 	(c)	 	the name and address of the Paying Agent;
	 
	 	(d)	 	that Securities of the Series called for redemption must be surrendered to
the Paying Agent to collect the redemption price;
	 
	 	(e)	 	that interest on Securities of the Series called for redemption ceases to
accrue on and after the redemption date;
	 
	 	(f)	 	the CUSIP number, if any; and
	 
	 	(g)	 	any other information as may be required by the terms of the particular
Series or the Securities of a Series being redeemed.

     At the Company’s request, the Trustee shall give the notice of redemption prepared by the
Company, in the Company’s name and at its expense.

Section 3.4     Effect of Notice of Redemption.

     Once notice of redemption is mailed or published as provided in Section 3.3, Securities of a
Series called for redemption become due and payable on the redemption date and at the redemption
price. A notice of redemption may not be conditional. Upon surrender to the Paying Agent, such
Securities shall be paid at the redemption price plus accrued interest to the redemption date.

Section 3.5     Deposit of Redemption Price.

     On or before the redemption date, the Company shall deposit with the Paying Agent money
sufficient to pay the redemption price of and accrued interest, if any, on all Securities to be
redeemed on that date.

Section 3.6     Securities Redeemed in Part.

     Upon surrender of a Security that is redeemed in part, the Trustee, upon receipt of a Company
Order, shall authenticate for the Holder a new Security of the same Series and the

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same maturity equal in principal amount to the unredeemed portion of the Security surrendered.

ARTICLE IV.

COVENANTS

Section 4.1     Payment of Principal and Interest.

     The Company covenants and agrees for the benefit of the Holders of each Series of Securities
that it will duly and punctually pay the principal of and interest, if any, on the Securities of
that Series in accordance with the terms of such Securities and this Indenture.

Section 4.2     SEC Reports.

     The Company shall deliver to the Trustee within 15 days after it files them with the SEC
copies of the annual reports and of the information, documents, and other reports (or copies of
such portions of any of the foregoing as the SEC may by rules and regulations prescribe) which the
Company is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act. The
Company also shall comply with the other provisions of TIA § 314(a).

Section 4.3     Compliance Certificate.

     The Company shall deliver to the Trustee, within 120 days after the end of each fiscal year of
the Company, an Officers’ Certificate stating that a review of the activities of the Company and
its Subsidiaries during the preceding fiscal year has been made under the supervision of the
signing Officers with a view to determining whether the Company has kept, observed, performed and
fulfilled its obligations under this Indenture, and further stating, as to each such Officer
signing such certificate, that to the best of his/her knowledge the Company has kept, observed,
performed and fulfilled each and every covenant contained in this Indenture and is not in default
in the performance or observance of any of the terms, provisions and conditions hereof (or, if a
Default or Event of Default shall have occurred, describing all such Defaults or Events of Default
of which he may have knowledge).

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

Section 4.4     Stay, Extension and Usury Laws.

     The Company covenants (to the extent that it may lawfully do so) that it will not at any time
insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any
stay, extension or usury law wherever enacted, now or at any time hereafter in force, which may
affect the covenants or the performance of this Indenture or the Securities; and the Company (to
the extent it may lawfully do so) hereby expressly waives all benefit or advantage of any such law
and covenants that it will not, by resort to any such law,

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hinder, delay or impede the execution of any power herein granted to the Trustee, but will
suffer and permit the execution of every such power as though no such law has been enacted.

Section 4.5     Corporate Existence.

     Subject to Article V, the Company will do or cause to be done all things necessary to preserve
and keep in full force and effect its corporate existence and the rights (charter and statutory),
licenses and franchises of the Company; provided, however, that the Company shall not be required
to preserve any such right, license or franchise if the Board of Directors shall determine that the
preservation thereof is no longer desirable in the conduct of the business of the Company and its
Subsidiaries taken as a whole and that the loss thereof is not adverse in any material respect to
the Holders.

ARTICLE V.

SUCCESSORS

Section 5.1     When Company May Merge, Etc.

     The Company shall not consolidate with or merge with or into, or convey, transfer or lease all
or substantially all of its properties and assets to, any person (a “successor person”) unless:

	 	(a)	 	the Company is the surviving corporation or the successor person (if other
than the Company) is a corporation organized and validly existing under the laws of
any U.S. domestic jurisdiction and expressly assumes the Company’s obligations on the
Securities and under this Indenture and
	 
	 	(b)	 	immediately after giving effect to the transaction, no Default or Event of
Default, shall have occurred and be continuing.

     The Company shall deliver to the Trustee prior to the consummation of the proposed transaction
an Officers’ Certificate to the foregoing effect and an Opinion of Counsel stating that the
proposed transaction and any supplemental indenture comply with this Indenture.

     Notwithstanding the above, any Subsidiary of the Company may consolidate with, merge into or
transfer all or part of its properties to the Company. Neither an Officers’ Certificate nor an
Opinion of Counsel shall be required to be delivered in connection therewith.

Section 5.2     Successor Corporation Substituted.

     Upon any consolidation or merger, or any sale, lease, conveyance or other disposition of all
or substantially all of the assets of the Company in accordance with Section 5.1, the successor
corporation formed by such consolidation or into or with which the Company is merged or to which
such sale, lease, conveyance or other disposition is made shall succeed to, and be substituted for,
and may exercise every right and power of, the Company under this Indenture with the same effect as
if such successor person has been named as the Company herein; provided, however,
that the predecessor Company in the case of a sale, conveyance or other disposition (other than a
lease) shall be released from all obligations and covenants under this Indenture and the
Securities.

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ARTICLE VI.

DEFAULTS AND REMEDIES

Section 6.1     Events of Default.

     "Event of Default,” wherever used herein with respect to Securities of any Series, means any
one of the following events, unless in the establishing Board Resolution, supplemental indenture or
Officers’ Certificate, it is provided that such Series shall not have the benefit of said Event of
Default:

	 	(a)	 	default in the payment of any interest on any Security of that Series when
it becomes due and payable, and continuance of such default for a period of 30 days
(unless the entire amount of such payment is deposited by the Company with the
Trustee or with a Paying Agent prior to the expiration of such period of 30 days); or
	 
	 	(b)	 	default in the payment of principal of any Security of that Series at its
Maturity; or
	 
	 	(c)	 	default in the performance or breach of any covenant or warranty of the
Company in this Indenture (other than a covenant or warranty that has been included
in this Indenture solely for the benefit of Series of Securities other than that
Series), which default continues uncured for a period of 60 days after there has been
given, by registered or certified mail, to the Company by the Trustee or to the
Company and the Trustee by the Holders of at least 25% in principal amount of the
outstanding Securities of that Series a written notice specifying such default or
breach and requiring it to be remedied and stating that such notice is a “Notice of
Default” hereunder; or
	 
	 	(d)	 	the Company pursuant to or within the meaning of any Bankruptcy Law:

	 	(i)	 	commences a voluntary case,
	 
	 	(ii)	 	consents to the entry of an order for relief against it in an
involuntary case,
	 
	 	(iii)	 	consents to the appointment of a Custodian of it or for all or
substantially all of its property,
	 
	 	(iv)	 	makes a general assignment for the benefit of its creditors, or
	 
	 	(v)	 	generally is unable to pay its debts as the same become due; or

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

	 	(i)	 	is for relief against the Company in an involuntary case,
	 
	 	(ii)	 	appoints a Custodian of the Company or for all or
substantially all of its property, or
	 
	 	(iii)	 	orders the liquidation of the Company,

	 	 	 	and the order or decree remains unstayed and in effect for 90
consecutive days; or

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	 	(f)	 	any other Event of Default provided with respect to Securities of that
Series, which is specified in a Board Resolution, a supplemental indenture hereto or
an Officers’ Certificate, in accordance with Section 2.2.18.

     The term “Bankruptcy Law” means title 11, U.S. Code or any similar Federal or State law for
the relief of debtors. The term “Custodian” means any receiver, trustee, assignee, liquidator or
similar official under any Bankruptcy Law.

Section 6.2     Acceleration of Maturity; Rescission and Annulment.

     If an Event of Default with respect to Securities of any Series at the time outstanding occurs
and is continuing (other than an Event of Default referred to in Section 6.1(d) or (e)) then in
every such case the Trustee or the Holders of not less than 25% in principal amount of the
outstanding Securities of that Series may declare the principal amount (or, if any Securities of
that Series are Discount Securities, such portion of the principal amount as may be specified in
the terms of such Securities) of and accrued and unpaid interest, if any, on all of the Securities
of that Series to be due and payable immediately, by a notice in writing to the Company (and to the
Trustee if given by Holders), and upon any such declaration such principal amount (or specified
amount) and accrued and unpaid interest, if any, shall become immediately due and payable. If an
Event of Default specified in Section 6.1(d) or (e) shall occur, the principal amount (or specified
amount) of and accrued and unpaid interest, if any, on all outstanding Securities shall ipso facto
become and be immediately due and payable without any declaration or other act on the part of the
Trustee or any Holder.

     At any time after such a declaration of acceleration with respect to any Series has been made
and before a judgment or decree for payment of the money due has been obtained by the Trustee as
hereinafter in this Article provided, the Holders of a majority in principal amount of the
outstanding Securities of that Series, by written notice to the Company and the Trustee, may
rescind and annul such declaration and its consequences if all Events of Default with respect to
Securities of that Series, other than the non-payment of the principal and interest, if any, of
Securities of that Series which have become due solely by such declaration of acceleration, have
been cured or waived as provided in Section 6.13.

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

Section 6.3     Collection of Indebtedness and Suits for Enforcement by Trustee.

     The Company covenants that if

	 	(a)	 	default is made in the payment of any interest on any Security when such
interest becomes due and payable and such default continues for a period of 30 days,
or
	 
	 	(b)	 	default is made in the payment of principal of any Security at the Maturity
thereof, or
	 
	 	(c)	 	default is made in the deposit of any sinking fund payment when and as due
by the terms of a Security,

19

 

then, the Company will, upon demand of the Trustee, pay to it, for the benefit of the Holders
of such Securities, the whole amount then due and payable on such Securities for principal and
interest and, to the extent that payment of such interest shall be legally enforceable, interest on
any overdue principal and any overdue interest at the rate or rates prescribed therefor in such
Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs
and expenses of collection, including the reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel.

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

     Notwithstanding any other provision of this Indenture, if an Event of Default with respect to
any Securities of any Series occurs and is continuing, the Trustee may in its discretion proceed to
protect and enforce its rights and the rights of the Holders of Securities of such Series by
pursuing any available remedy by proceeding at law or in equity as the Trustee shall deem most
effectual to protect and enforce any such rights, whether for the specific enforcement of any
covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or
to enforce any other proper remedy.

Section 6.4     Trustee May File Proofs of Claim.

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

	 	(a)	 	to file and prove a claim for the whole amount of principal and interest
owing and unpaid in respect of the Securities and to file such other papers or
documents as may be necessary or advisable in order to have the claims of the Trustee
(including any claim for the reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel) and of the Holders allowed in such
judicial proceeding, and
	 
	 	(b)	 	to collect and receive any moneys or other property payable or deliverable
on any such claims and to distribute the same,

and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar
official in any such judicial proceeding is hereby authorized by each Holder to make such payments
to the Trustee and, in the event that the Trustee shall consent to the making of such payments
directly to the Holders, to pay to the Trustee any amount due it for the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts
due the Trustee under Section 7.7.

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     Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to
or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or
composition affecting the Securities or the rights of any Holder thereof or to authorize the
Trustee to vote in respect of the claim of any Holder in any such proceeding.

Section 6.5     Trustee May Enforce Claims Without Possession of Securities.

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

Section 6.6     Application of Money Collected.

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

     First: To the payment of all amounts due the Trustee under Section 7.7; and

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

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

Section 6.7     Limitation on Suits.

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

	 	(a)	 	such Holder has previously given written notice to the Trustee of a
continuing Event of Default with respect to the Securities of that Series;
	 
	 	(b)	 	the Holders of not less than 25% in principal amount of the outstanding
Securities of that Series shall have made written request to the Trustee to institute
proceedings in respect of such Event of Default in its own name as Trustee hereunder;
	 
	 	(c)	 	such Holder or Holders have offered to the Trustee indemnity satisfactory
to the Trustee against the costs, expenses and liabilities to be incurred in
compliance with such request;

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	 	(d)	 	the Trustee for 60 days after its receipt of such notice, request and offer
of indemnity has failed to institute any such proceeding; and
	 
	 	(e)	 	no direction inconsistent with such written request has been given to the
Trustee during such 60-day period by the Holders of a majority in principal amount of
the outstanding Securities of that Series;

it being understood and intended that no one or more of such Holders shall have any right in
any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect,
disturb or prejudice the rights of any other of such Holders, or to obtain or to seek to obtain
priority or preference over any other of such Holders or to enforce any right under this Indenture,
except in the manner herein provided and for the equal and ratable benefit of all such Holders.

Section 6.8     Unconditional Right of Holders to Receive Principal and Interest.

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

Section 6.9     Restoration of Rights and Remedies.

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

Section 6.10     Rights and Remedies Cumulative.

     Except as otherwise provided with respect to the replacement or payment of mutilated,
destroyed, lost or stolen Securities in Section 2.8, no right or remedy herein conferred upon or
reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy,
and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to
every other right and remedy given hereunder or now or hereafter existing at law or in equity or
otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not,
to the extent permitted by law, prevent the concurrent assertion or employment of any other
appropriate right or remedy.

Section 6.11     Delay or Omission Not Waiver.

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

22

 

Section 6.12     Control by Holders.

     The Holders of a majority in principal amount of the outstanding Securities of any Series
shall have the right to direct the time, method and place of conducting any proceeding for any
remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with
respect to the Securities of such Series, provided that

	 	(a)	 	such direction shall not be in conflict with any rule of law or with this
Indenture,
	 
	 	(b)	 	the Trustee may take any other action deemed proper by the Trustee which is
not inconsistent with such direction, and
	 
	 	(c)	 	subject to the provisions of Section 6.1, the Trustee shall have the right
to decline to follow any such direction if the Trustee in good faith shall, by a
Responsible Officer of the Trustee, determine that the proceeding so directed would
involve the Trustee in personal liability.

Section 6.13     Waiver of Past Defaults.

     The Holders of not less than a majority in principal amount of the outstanding Securities of
any Series may on behalf of the Holders of all the Securities of such Series waive any past Default
hereunder with respect to such Series and its consequences, except a Default in the payment of the
principal of or interest on any Security of such Series (provided, however, that the Holders of a
majority in principal amount of the outstanding Securities of any Series may rescind an
acceleration and its consequences, including any related payment default that resulted from such
acceleration). Upon any such waiver, such Default shall cease to exist, and any Event of Default
arising therefrom shall be deemed to have been cured, for every purpose of this Indenture; but no
such waiver shall extend to any subsequent or other Default or impair any right consequent thereon.

Section 6.14     Undertaking for Costs.

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

23

 

ARTICLE VII.

TRUSTEE

Section 7.1     Duties of Trustee.

	 	(a)	 	If an Event of Default has occurred and is continuing, the Trustee shall
exercise the rights and powers vested in it by this Indenture and use the same degree
of care and skill in their exercise as a prudent man would exercise or use under the
circumstances in the conduct of his own affairs.
	 
	 	(b)	 	Except during the continuance of an Event of Default:

	 	(i)	 	The Trustee need perform only those duties that are
specifically set forth in this Indenture and no others.
	 
	 	(ii)	 	In the absence of bad faith on its part, the Trustee may
conclusively rely, as to the truth of the statements and the correctness of
the opinions expressed therein, upon Officers’ Certificates or Opinions of
Counsel furnished to the Trustee and conforming to the requirements of this
Indenture; however, in the case of any such Officers’ Certificates or Opinions
of Counsel which by any provisions hereof are specifically required to be
furnished to the Trustee, the Trustee shall examine such Officers’
Certificates and Opinions of Counsel to determine whether or not they conform
to the requirements of this Indenture (but need not confirm or investigate the
accuracy of mathematical calculations or other facts stated therein).

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

	 	(i)	 	This paragraph does not limit the effect of paragraph (b) of
this Section.
	 
	 	(ii)	 	The Trustee shall not be liable for any error of judgment
made in good faith by a Responsible Officer, unless it is proved that the
Trustee was negligent in ascertaining the pertinent facts.
	 
	 	(iii)	 	The Trustee shall not be liable with respect to any action
taken, suffered or omitted to be taken by it with respect to Securities of any
Series in good faith in accordance with the direction of the Holders of a
majority in principal amount of the outstanding Securities of such Series
relating to the time, method and place of conducting any proceeding for any
remedy available to the Trustee, or exercising any trust or power conferred
upon the Trustee, under this Indenture with respect to the Securities of such
Series.

	 	(d)	 	Every provision of this Indenture that in any way relates to the Trustee is
subject to paragraph (a), (b) and (c) of this Section.
	 
	 	(e)	 	The Trustee may refuse to perform any duty or exercise any right or power
unless it receives indemnity satisfactory to it against any loss, liability or
expense.

24

 

	 	(f)	 	The Trustee shall not be liable for interest on any money received by it
except as the Trustee may agree in writing with the Company. Money held in trust by
the Trustee need not be segregated from other funds except to the extent required by
law.
	 
	 	(g)	 	No provision of this Indenture shall require the Trustee to risk its own
funds or otherwise incur any 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 repayment of such funds or adequate indemnity
against such risk is not reasonably assured to it.
	 
	 	(h)	 	The Paying Agent, the Registrar, the Service Agent and any authenticating
agent shall be entitled to the protections, immunities and standard of care as are
set forth in paragraphs (a), (b) and (c) of this Section with respect to the Trustee.

Section 7.2     Rights of Trustee.

	 	(a)	 	The Trustee may rely on and shall be protected in acting or refraining from
acting upon any document believed by it to be genuine and to have been signed or
presented by the proper person. The Trustee need not investigate any fact or matter
stated in the document.
	 
	 	(b)	 	Before the Trustee acts or refrains from acting, it may require an
Officers’ Certificate or an Opinion of Counsel, or both. The Trustee shall not be
liable for any action it takes or omits to take in good faith in reliance on such
Officers’ Certificate or Opinion of Counsel. No such Officers’ Certificate or Opinion
of Counsel shall be at the expense of the Trustee. Any request or direction of the
Company mentioned herein shall be sufficiently evidenced by an Officers’ Certificate.
	 
	 	(c)	 	The Trustee may act through agents and shall not be responsible for the misconduct or negligence
of any agent appointed with due care. No Depositary shall be deemed an
agent of the Trustee and the Trustee shall not be responsible for any act or omission
by any Depositary.
	 
	 	(d)	 	The Trustee shall not be liable for any action it takes or omits to take in
good faith which it believes to be authorized or within its rights or powers,
provided that the Trustee’s conduct does not constitute
negligence or bad faith. The Trustee shall not be liable for any special or consequential damages, even if
they were reasonably foreseeable.
	 
	 	(e)	 	The Trustee may consult with counsel of its selection and the advice of
such counsel or any Opinion of Counsel shall be full and complete authorization and
protection in respect of any action taken, suffered or omitted by it hereunder
without negligence and in good faith and in reliance thereon.

25

 

	 	(f)	 	The Trustee shall be under no obligation to exercise any of the rights or
powers vested in it by this Indenture at the request or direction of any of the
Holders of Securities unless such Holders shall have offered to the Trustee security
or indemnity satisfactory to the Trustee against the costs, expenses and liabilities
which might be incurred by it in compliance with such request or direction.
	 
	 	(g)	 	The Trustee shall not be bound to make any investigation into the facts or
matters stated in any resolution, certificate, statement, instrument, opinion,
report, notice, request, direction, consent, order, bond, debenture, note, other
evidence of indebtedness or other paper or document, but the Trustee, in its
discretion, may make such further inquiry or investigation into such facts or matters
as it may see fit.
	 
	 	(h)	 	The Trustee shall not be deemed to have notice of any Default or Event of
Default (other than a payment default under Section 6.1 or 6.2) unless a Responsible
Officer of the Trustee has received written notice of any event which is in fact such
a default is received by the Trustee at the Corporate Trust Office of the Trustee,
and such notice references the Securities generally or the Securities of a particular
Series and this Indenture.
	 
	 	(i)	 	The rights, privileges, protections, immunities and benefits given to the
Trustee, including without limitation its right to be indemnified, are extended to,
and shall enforceable by, the Trustee in each of its capacities hereunder, and to
each agent, custodian and other Person employed to act hereunder.
	 
	 	(j)	 	The Trustee may request that the Issuer deliver an Officers’ Certificate
setting forth the names of individuals and/or titles of officers authorized at such
time to take specified actions pursuant to this Indenture, which Officers’
Certificate may be signed by any person authorized to sign an Officers’ Certificate,
including any person specified as so authorized in any such certificate previously
delivered and not superseded.
	 
	 	(k)	 	The Trustee shall have no duty to inquire as to or monitor the performance
of the Issuer with respect to the covenants contained in Article IV.
	 
	 	(l)	 	The Trustee shall not be required to give any note, bond or surety in
respect of the execution of the trusts and powers under this Indenture.
	 
	 	(m)	 	Nothing herein shall be deemed to require the Trustee to submit to the
jurisdiction or venue of a non-U.S. court.
	 
	 	(n)	 	In no event shall the Trustee be responsible or liable for
special, indirect, or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action.
	 
	 	(o)	 	In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances.

Section 7.3     Individual Rights of Trustee.

     The Trustee in its individual or any other capacity may become the owner or pledgee of
Securities and may otherwise deal with the Company or an Affiliate of the Company with the same
rights it would have if it were not Trustee. Any Agent may do the same with like rights. The
Trustee is also subject to Sections 7.10 and 7.11.

26

 

Section 7.4     Trustee’s Disclaimer. 

     The Trustee makes no representation as to the validity or adequacy of this Indenture or the
Securities, it shall not be accountable for the Company’s use of the proceeds from the Securities,
and it shall not be responsible for any statement in the Securities other than its authentication.

Section 7.5     Notice of Defaults.

     If a Default or Event of Default occurs and is continuing with respect to the Securities of
any Series and if it is known to a Responsible Officer of the Trustee, the Trustee shall mail to
each Securityholder of the Securities of that Series notice of a Default or Event of Default within
90 days after it occurs or, if later, after a Responsible Officer of the Trustee has written notice
of such Default or Event of Default. Except in the case of a Default or Event of Default in payment
of principal of or interest on any Security of any Series, the Trustee may withhold the notice if
and so long as its corporate trust committee or a committee of its Responsible Officers in good
faith determines that withholding the notice is in the interests of Securityholders of that Series.

Section 7.6     Reports by Trustee to Holders.

     Within 60 days after May 15 in each year, the Trustee shall transmit by mail to all
Securityholders, as their names and addresses appear on the register kept by the Registrar, a brief
report dated as of such May 15, in accordance with, and to the extent required under, TIA § 313.

     A copy of each report at the time of its mailing to Securityholders of any Series shall be
filed with the SEC and each stock exchange on which the Securities of that Series are listed. The
Company shall promptly notify the Trustee when Securities of any Series are listed on any stock
exchange.

Section 7.7     Compensation and Indemnity.

     The Company shall pay to the Trustee from time to time compensation for its services as the
Company and the Trustee shall from time to time agree upon in writing. The Trustee’s compensation
shall not be limited by any law on compensation of a trustee of an express trust. The Company shall
reimburse the Trustee upon request for all reasonable out of pocket expenses incurred by it. Such
expenses shall include the reasonable compensation and expenses of the Trustee’s agents and
counsel.

     The Company shall indemnify each of the Trustee and any predecessor Trustee (including the
cost of defending itself) against any loss, liability or expense incurred by it except as set forth
in the next paragraph in the performance of its duties under this Indenture as Trustee or Agent.
The Trustee shall notify the Company promptly of any claim for which it may seek indemnity. The
Company shall defend the claim and the Trustee shall cooperate in the defense. The Trustee may have
one separate counsel (in addition to local counsel, if applicable) and the Company shall pay the
reasonable fees and expenses of such counsel. The Company need not pay for any settlement made
without its consent, which consent shall not be unreasonably withheld. This indemnification shall
apply to officers, directors, employees, shareholders and agents of the Trustee.

27

 

     The Company need not reimburse any expense or indemnify against any loss or liability incurred
by the Trustee or by any officer, director, employee, shareholder or agent of the Trustee through
negligence or bad faith.

     To secure the Company’s payment obligations in this Section, the Trustee shall have a lien
prior to the Securities of any Series on all money or property held or collected by the Trustee,
except that held in trust to pay principal of and interest on particular Securities of that Series.

     When the Trustee incurs expenses or renders services after an Event of Default specified in
Section 6.1(d) or (e) occurs, the expenses and the compensation for the services (including the
fees and expenses of its agents and counsel) are intended to constitute expenses of administration
under any Bankruptcy Law.

     The provisions of this Section shall survive the termination of this Indenture and the
resignation and removal of the Trustee.

Section 7.8     Replacement of Trustee.

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

     The Trustee may resign with respect to the Securities of one or more Series by so notifying
the Company at least 30 days prior to the date of the proposed resignation. The Holders of a
majority in principal amount of the Securities of any Series may remove the Trustee with respect to
that Series by so notifying the Trustee and the Company. The Company may remove the Trustee with
respect to Securities of one or more Series if:

	 	(a)	 	the Trustee fails to comply with Section 7.10;
	 
	 	(b)	 	the Trustee is adjudged a bankrupt or an insolvent or an order for relief
is entered with respect to the Trustee under any Bankruptcy Law;
	 
	 	(c)	 	a Custodian or public officer takes charge of the Trustee or its property;
or
	 
	 	(d)	 	the Trustee becomes incapable of acting.

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

     If a successor Trustee with respect to the Securities of any one or more Series does not take
office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the
Company or the Holders of at least a majority in principal amount of the Securities of the
applicable Series may petition any court of competent jurisdiction for the appointment of a
successor Trustee.

28

 

     A successor Trustee shall deliver a written acceptance of its appointment to the retiring
Trustee and to the Company. Immediately after that, the retiring Trustee shall transfer all
property held by it as Trustee to the successor Trustee subject to the lien provided for in Section
7.7, the resignation or removal of the retiring Trustee shall become effective, and the successor
Trustee shall have all the rights, powers and duties of the Trustee with respect to each Series of
Securities for which it is acting as Trustee under this Indenture. A successor Trustee shall mail a
notice of its succession to each Securityholder of each such Series. Notwithstanding replacement of
the Trustee pursuant to this Section 7.8, the Company’s obligations under Section 7.7 hereof shall
continue for the benefit of the retiring Trustee with respect to expenses and liabilities incurred
by it prior to such replacement.

Section 7.9     Successor Trustee by Merger, etc. 

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

Section 7.10     Eligibility; Disqualification.

     This Indenture shall always have a Trustee who satisfies the requirements of TIA § 310(a)(1),
(2) and (5). The Trustee shall always have a combined capital and surplus of at least $25,000,000
as set forth in its most recent published annual report of condition. The Trustee shall comply with
TIA § 310(b).

Section 7.11     Preferential Collection of Claims Against Company.

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

ARTICLE VIII.

SATISFACTION AND DISCHARGE; DEFEASANCE

Section 8.1     Satisfaction and Discharge of Indenture.

     This Indenture shall upon Company Order cease to be of further effect (except as hereinafter
provided in this Section 8.1), and the Trustee, at the expense of the Company, shall execute proper
instruments acknowledging satisfaction and discharge of this Indenture, when

	 	(a)	 	either

	 	(i)	 	all Securities theretofore authenticated and delivered (other
than Securities that have been destroyed, lost or stolen and that have been
replaced or paid) have been delivered to the Trustee for cancellation; or
	 
	 	(ii)	 	all such Securities not theretofore delivered to the Trustee
for cancellation

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

29

 

	 	(3)	 	have been called for redemption or are to be
called for redemption within one year under arrangements satisfactory
to the Trustee for the giving of notice of redemption by the Trustee in
the name, and at the expense, of the Company, or
	 
	 	(4)	 	are deemed paid and discharged pursuant to
Section 8.3, as applicable;

and the Company, in the case of (1), (2) or (3) above, has irrevocably deposited or caused to
be deposited with the Trustee as trust funds in trust an amount sufficient for the purpose of
paying and discharging the entire indebtedness on such Securities not theretofore delivered to the
Trustee for cancellation, for principal and interest to the date of such deposit (in the case of
Securities which have become due and payable on or prior to the date of such deposit) or to the
Stated Maturity or redemption date, as the case may be;

	 	(b)	 	the Company has paid or caused to be paid all other sums payable hereunder
by the Company; and
	 
	 	(c)	 	the Company has delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel, each stating that all conditions precedent herein provided for
relating to the satisfaction and discharge of this Indenture have been complied with.

     Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the
Company to the Trustee under Section 7.7, and, if money shall have been deposited with the Trustee
pursuant to clause (a) of this Section, the provisions of Sections 2.4, 2.7, 2.8, 8.2 and 8.5 shall
survive.

Section 8.2     Application of Trust Funds; Indemnification.

	 	(a)	 	Subject to the provisions of Section 8.5, all money deposited with the
Trustee pursuant to Section 8.1, all money and U.S. Government Obligations or Foreign
Government Obligations deposited with the Trustee pursuant to Section 8.3 or 8.4 and
all money received by the Trustee in respect of U.S. Government Obligations or
Foreign Government Obligations deposited with the Trustee pursuant to Section 8.3 or
8.4, shall be held in trust and applied by it, in accordance with the provisions of
the Securities and this Indenture, to the payment, either directly or through any
Paying Agent (including the Company acting as its own Paying Agent) as the Trustee
may determine, to the persons entitled thereto, of the principal and interest for
whose payment such money has been deposited with or received by the Trustee or to
make mandatory sinking fund payments or analogous payments as contemplated by
Sections 8.3 or 8.4.
	 
	 	(b)	 	The Company shall pay and shall indemnify the Trustee against any tax, fee
or other charge imposed on or assessed against U.S. Government Obligations or Foreign
Government Obligations deposited pursuant to Sections 8.3 or 8.4 or the interest and
principal received in respect of such obligations other than any payable by or on
behalf of Holders.
	 
	 	(c)	 	The Trustee shall deliver or pay to the Company from time to time upon
Company Request any U.S. Government Obligations or Foreign Government

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	 	 	 	Obligations or money held by it as provided in Sections 8.3 or 8.4 which, in the
opinion of a nationally recognized firm of independent certified public accountants
expressed in a written certification thereof delivered to the Trustee, are then in
excess of the amount thereof which then would have been required to be deposited for
the purpose for which such U.S. Government Obligations or Foreign Government
Obligations or money were deposited or received. This provision shall not authorize
the sale by the Trustee of any U.S. Government Obligations or Foreign Government
Obligations held under this Indenture.

Section 8.3     Legal Defeasance of Securities of any Series.

     Unless this Section 8.3 is otherwise specified, pursuant to Section 2.2.20, to be inapplicable
to Securities of any Series, the Company shall be deemed to have paid and discharged the entire
indebtedness on all the outstanding Securities of any Series on the 91st day after the date of the
deposit referred to in subparagraph (d) hereof, and the provisions of this Indenture, as it relates
to such outstanding Securities of such Series, shall no longer be in effect (and the Trustee, at
the expense of the Company, shall, at Company Request, execute proper instruments acknowledging the
same), except as to:

	 	(a)	 	the rights of Holders of Securities of such Series to receive, from the
trust funds described in subparagraph (d) hereof, (i) payment of the principal of and
each installment of principal of and interest on the outstanding Securities of such
Series on the Stated Maturity of such principal or installment of principal or
interest and (ii) the benefit of any mandatory sinking fund payments applicable to
the Securities of such Series on the day on which such payments are due and payable
in accordance with the terms of this Indenture and the Securities of such Series;
	 
	 	(b)	 	the provisions of Sections 2.4, 2.7, 2.8, 8.2, 8.3 and 8.5; and
	 
	 	(c)	 	the rights, powers, trust and immunities of the Trustee hereunder;
	 
	 	provided that, the following conditions shall have been satisfied:
	 
	 	(d)	 	the Company shall have deposited or caused to be irrevocably deposited
(except as provided in Section 8.2(c)) with the Trustee as trust funds in trust for
the purpose of making the following payments, specifically pledged as security for
and dedicated solely to the benefit of the Holders of such Securities (i) in the case
of Securities of such Series denominated in Dollars, cash in Dollars and/or U.S.
Government Obligations, or (ii) in the case of Securities of such Series denominated
in a Foreign Currency (other than a composite currency), money and/or Foreign
Government Obligations, which through the payment of interest and principal in
respect thereof in accordance with their terms, will provide (and without
reinvestment and assuming no tax liability will be imposed on such Trustee), not
later than one day before the due date of any payment of money, an amount in cash,
sufficient, in the opinion of a nationally recognized firm of independent public
accountants expressed in a written certification thereof delivered to the Trustee, to
pay and discharge each installment of principal of and interest, if any, on and any

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	 	 	 	mandatory sinking fund payments in respect of all the Securities of such Series on
the dates such installments of interest or principal and such sinking fund payments
are due;
	 	(e)	 	such deposit will not result in a breach or violation of, or constitute a
default under, this Indenture or any other agreement or instrument to which the
Company is a party or by which it is bound;
	 
	 	(f)	 	no Default or Event of Default with respect to the Securities of such
Series shall have occurred and be continuing on the date of such deposit or during
the period ending on the 91st day after such date;
	 
	 	(g)	 	the Company shall have delivered to the Trustee an Officers’ Certificate
and an Opinion of Counsel to the effect that (i) the Company has received from, or
there has been published by, the Internal Revenue Service a ruling, or (ii) since the
date of execution of this Indenture, there has been a change in the applicable
Federal income tax law, in either case to the effect that, and based thereon such
Opinion of Counsel shall confirm that, the Holders of the Securities of such Series
will not recognize income, gain or loss for Federal income tax purposes as a result
of such deposit, defeasance and discharge and will be subject to Federal income tax
on the same amount and in the same manner and at the same times as would have been
the case if such deposit, defeasance and discharge had not occurred;
	 
	 	(h)	 	the Company shall have delivered to the Trustee an Officers’ Certificate
stating that the deposit was not made by the Company with the intent of preferring
the Holders of the Securities of such Series over any other creditors of the Company
or with the intent of defeating, hindering, delaying or defrauding any other
creditors of the Company; and
	 
	 	(i)	 	the Company shall have delivered to the Trustee an Officers’ Certificate
and an Opinion of Counsel, each stating that all conditions precedent provided for
relating to the defeasance contemplated by this Section have been complied with.

Section 8.4     Covenant Defeasance.

     Unless this Section 8.4 is otherwise specified pursuant to Section 2.2.20 to be inapplicable
to Securities of any Series, the Company may omit to comply with respect to the Securities of any
Series with any term, provision or condition set forth under Sections 4.2, 4.3, 4.4, 4.5, and 5.1
as well as any additional covenants specified in a supplemental indenture for such Series of
Securities or a Board Resolution or an Officers’ Certificate delivered pursuant to Section 2.2.20
(and the failure to comply with any such covenants shall not constitute a Default or Event of
Default with respect to such Series under Section 6.1) and the occurrence of any event specified in
a supplemental indenture for such Series of Securities or a Board Resolution or an Officers’
Certificate delivered pursuant to Section 2.2.18 and designated as an Event of Default shall not
constitute a Default or Event of Default hereunder, with respect to the Securities of such Series,
provided that the following conditions shall have been satisfied:

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	 	(a)	 	With reference to this Section 8.4, the Company has deposited or caused to
be irrevocably deposited (except as provided in Section 8.2(c)) with the Trustee as
trust funds in trust for the purpose of making the following payments specifically
pledged as security for, and dedicated solely to, the benefit of the Holders of such
Securities (i) in the case of Securities of such Series denominated in Dollars, cash
in Dollars and/or U.S. Government Obligations, or (ii) in the case of Securities of
such Series denominated in a Foreign Currency (other than a composite currency),
money and/or Foreign Government Obligations, which through the payment of interest
and principal in respect thereof in accordance with their terms, will provide (and
without reinvestment and assuming no tax liability will be imposed on such Trustee),
not later than one day before the due date of any payment of money, an amount in
cash, sufficient, in the opinion of a nationally recognized firm of independent
certified public accountants expressed in a written certification thereof delivered
to the Trustee, to pay and discharge each installment of principal of and interest,
if any, on and any mandatory sinking fund payments in respect of the Securities of
such Series on the dates such installments of interest or principal and such sinking
fund payments are due;
	 
	 	(b)	 	Such deposit will not result in a breach or violation of, or constitute a
default under, this Indenture or any other agreement or instrument to which the
Company is a party or by which it is bound;
	 
	 	(c)	 	No Default or Event of Default with respect to the Securities of such
Series shall have occurred and be continuing on the date of such deposit;
	 
	 	(d)	 	The Company shall have delivered to the Trustee an Opinion of Counsel to
the effect that Holders of the Securities of such Series will not recognize income,
gain or loss for federal income tax purposes as a result of such deposit and covenant
defeasance and will be subject to federal income tax on the same amounts, in the same
manner and at the same times as would have been the case if such deposit and covenant
defeasance had not occurred;
	 
	 	(e)	 	The Company shall have delivered to the Trustee an Officers’ Certificate
stating the deposit was not made by the Company with the intent of preferring the
Holders of the Securities of such Series over any other creditors of the Company or
with the intent of defeating, hindering, delaying or defrauding any other creditors
of the Company; and
	 
	 	(f)	 	The Company shall have delivered to the Trustee an Officers’ Certificate
and an Opinion of Counsel, each stating that all conditions precedent herein provided
for relating to the covenant defeasance contemplated by this Section have been
complied with.

Section 8.5     Repayment to Company.

     The Trustee and the Paying Agent shall pay to the Company upon written request any money held
by them for the payment of principal and interest that remains unclaimed for two years. After that,
Securityholders entitled to the money must look to the Company for

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payment as general creditors unless an applicable abandoned property law designates another
person.

ARTICLE IX.

AMENDMENTS AND WAIVERS

Section 9.1     Without Consent of Holders.

     The Company and the Trustee may amend or supplement this Indenture or the Securities of one or
more Series without the consent of any Securityholder:

	 	(a)	 	to cure any ambiguity, defect or inconsistency;
	 
	 	(b)	 	to comply with Article V;
	 
	 	(c)	 	to provide for uncertificated Securities in addition to or in place of
certificated Securities;
	 
	 	(d)	 	to make any change that does not adversely affect the rights of any
Securityholder;
	 
	 	(e)	 	to provide for the issuance of and establish the form and terms and
conditions of Securities of any Series as permitted by this Indenture;
	 
	 	(f)	 	to evidence and provide for the acceptance of appointment hereunder by a
successor Trustee with respect to the Securities of one or more Series and to add to
or change any of the provisions of this Indenture as shall be necessary to provide
for or facilitate the administration of the trusts hereunder by more than one
Trustee; or
	 
	 	(g)	 	to comply with requirements of the SEC in order to effect or maintain the
qualification of this Indenture under the TIA.

Section 9.2     With Consent of Holders.

     The Company and the Trustee may enter into a supplemental indenture with the written consent
of the Holders of at least a majority in principal amount of the outstanding Securities of each
Series affected by such supplemental indenture (including consents obtained in connection with a
tender offer or exchange offer for the Securities of such Series), for the purpose of adding any
provisions to or changing in any manner or eliminating any of the provisions of this Indenture or
of any supplemental indenture or of modifying in any manner the rights of the Securityholders of
each such Series. Except as provided in Section 6.13, the Holders of at least a majority in
principal amount of the outstanding Securities of any Series by notice to the Trustee (including
consents obtained in connection with a tender offer or exchange offer for the Securities of such
Series) may waive compliance by the Company with any provision of this Indenture or the Securities
with respect to such Series.

     It shall not be necessary for the consent of the Holders of Securities under this Section 9.2
to approve the particular form of any proposed supplemental indenture or waiver,

34

 

but it shall be
sufficient if such consent approves the substance thereof. After a supplemental
indenture or waiver under this section becomes effective, the Company shall mail to the
Holders of Securities affected thereby, a notice briefly describing the supplemental indenture or
waiver. Any failure by the Company to mail or publish such notice, or any defect therein, shall
not, however, in any way impair or affect the validity of any such supplemental indenture or
waiver.

Section 9.3     Limitations.

     Without the consent of each Securityholder affected, an amendment or waiver may not:

	 	(a)	 	reduce the principal amount of Securities whose Holders must consent to an
amendment, supplement or waiver;
	 
	 	(b)	 	reduce the rate of or extend the time for payment of interest (including
default interest) on any Security;
	 
	 	(c)	 	reduce the principal or change the Stated Maturity of any Security or
reduce the amount of, or postpone the date fixed for, the payment of any sinking fund
or analogous obligation;
	 
	 	(d)	 	reduce the principal amount of Discount Securities payable upon
acceleration of the maturity thereof;
	 
	 	(e)	 	waive a Default or Event of Default in the payment of the principal of or
interest, if any, on any Security (except a rescission of acceleration of the
Securities of any Series by the Holders of at least a majority in principal amount of
the outstanding Securities of such Series and a waiver of the payment default that
resulted from such acceleration);
	 
	 	(f)	 	make the principal of or interest, if any, on any Security payable in any
currency other than that stated in the Security;
	 
	 	(g)	 	make any change in Sections 6.8, 6.13 or 9.3 (this sentence); or
	 
	 	(h)	 	waive a redemption payment with respect to any Security, provided that such
redemption is made at the Company’s option.

Section 9.4     Compliance with Trust Indenture Act.

     Every amendment to this Indenture or the Securities of one or more Series shall be set forth
in a supplemental indenture hereto that complies with the TIA as then in effect.

Section 9.5     Revocation and Effect of Consents.

     Until an amendment is set forth in a supplemental indenture or a waiver becomes effective, a
consent to it by a Holder of a Security is a continuing consent by the Holder and every subsequent
Holder of a Security or portion of a Security that evidences the same debt as the consenting
Holder’s Security, even if notation of the consent is not made on any

35

 

Security. However, any such
Holder or subsequent Holder may revoke the consent as to his Security or portion of a Security if the Trustee receives the notice of revocation before the
date of the supplemental indenture or the date the waiver becomes effective.

     Any amendment or waiver once effective shall bind every Securityholder of each Series affected
by such amendment or waiver unless it is of the type described in any of clauses (a) through (h) of
Section 9.3. In that case, the amendment or waiver shall bind each Holder of a Security who has
consented to it and every subsequent Holder of a Security or portion of a Security that evidences
the same debt as the consenting Holder’s Security.

Section 9.6     Notation on or Exchange of Securities. 

     The Trustee may place an appropriate notation about an amendment or waiver on any Security of
any Series thereafter authenticated. The Company in exchange for Securities of that Series may
issue and the Trustee shall authenticate upon receipt of a Company Order new Securities of that
Series that reflect the amendment or waiver.

Section 9.7     Trustee Protected.

     In executing, or accepting the additional trusts created by, any supplemental indenture
permitted by this Article or the modifications thereby of the trusts created by this Indenture, the
Trustee shall be entitled to receive, and (subject to Section 7.1) shall be fully protected in
relying upon, an Opinion of Counsel stating that the execution of such supplemental indenture is
authorized or permitted by this Indenture. The Trustee shall sign all supplemental indentures,
except that the Trustee need not sign any supplemental indenture that adversely affects its rights.

ARTICLE X.

MISCELLANEOUS

Section 10.1     Trust Indenture Act Controls.

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

Section 10.2     Notices. 

     Any notice or communication by the Company or the Trustee to the other, or by a Holder to the
Company or the Trustee, is duly given if in writing and delivered in person or mailed by
first-class mail:

if to the Company:

LDK
Solar., Ltd.

Hi-Tech Industrial Park

Xinyu City

Jiangxi Province 338032

People’s Republic of China

Fax No. +86 790 686 0171

Attention: Chief Financial Officer

36

 

if to the Trustee:

The Bank of New York Mellon

101 Barclay Street, Floor 4 East

New York, NY 10286

U.S.A.

Fax No. (+1) 212 815 5802 or (+1) 212 815 5803

Attention: Global Trust Services

(LDK Solar Co., Ltd. [specify Series])

with copy to:

The Bank of New York Mellon

Level 12/F

Three Pacific Place

1 Queen’s Road East

Hong Kong

Fax No. (+852) 2295 3283

Attention: Global Corporate Trust

(Re: LDK Solar Co., Ltd. [specify Series])

     The Company or the Trustee by notice to the other may designate additional or different
addresses for subsequent notices or communications.

     Any notice or communication to a Securityholder shall be mailed by first-class mail to his
address shown on the register kept by the Registrar. Failure to mail a notice or communication to a
Securityholder of any Series or any defect in it shall not affect its sufficiency with respect to
other Securityholders of that or any other Series.

     If a notice or communication is mailed or published in the manner provided above, within the
time prescribed, it is duly given, whether or not the Securityholder receives it.

     If the Company mails a notice or communication to Securityholders, it shall mail a copy to the
Trustee and each Agent at the same time.

Section 10.3     Communication by Holders with Other Holders. 

     Securityholders of any Series may communicate pursuant to TIA § 312(b) with other
Securityholders of that Series or any other Series with respect to their rights under this
Indenture or the Securities of that Series or all Series. The Company, the Trustee, the Registrar
and anyone else shall have the protection of TIA § 312(c).

Section 10.4     Certificate and Opinion as to Conditions Precedent. 

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     Upon any request or application by the Company to the Trustee to take any action under this
Indenture, the Company shall furnish to the Trustee:

	 	(a)	 	an Officers’ Certificate stating that, in the opinion of the signers, all
conditions precedent, if any, provided for in this Indenture relating to the proposed
action have been complied with; and
	 
	 	(b)	 	an Opinion of Counsel stating that, in the opinion of such counsel, all
such conditions precedent have been complied with.

Section 10.5     Statements Required in Certificate or Opinion. 

     Each certificate or opinion with respect to compliance with a condition or covenant provided
for in this Indenture (other than a certificate provided pursuant to TIA § 314(a)(4)) shall comply
with the provisions of TIA § 314(e) and shall include:

	 	(a)	 	a statement that the person making such certificate or opinion has read
such covenant or condition;
	 
	 	(b)	 	a brief statement as to the nature and scope of the examination or
investigation upon which the statements or opinions contained in such certificate or
opinion are based;
	 
	 	(c)	 	a statement that, in the opinion of such person, he has made such
examination or investigation as is necessary to enable him 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 or not, in the opinion of such person, such
condition or covenant has been complied with.

Section 10.6     Rules by Trustee and Agents.

     The Trustee may make reasonable rules for action by or a meeting of Securityholders of one or
more Series. Any Agent may make reasonable rules and set reasonable requirements for its functions.

Section 10.7     Legal Holidays.

     Unless otherwise provided by Board Resolution, Officers’ Certificate or supplemental indenture
hereto for a particular Series, a “Legal Holiday” is any day that is not a Business Day. If a
payment date is a Legal Holiday at a place of payment, payment may be made at that place on the
next succeeding day that is not a Legal Holiday, and no interest shall accrue for the intervening
period.

Section 10.8     No Recourse Against Others.

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

38

 

Section 10.9     Counterparts.

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

Section 10.10     Governing Laws.

     THIS INDENTURE AND THE SECURITIES SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK
APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED IN SUCH STATE, WITHOUT REGARD TO THE CONFLICT OF
LAWS PROVISIONS THEREOF.

Section 10.11     No Adverse Interpretation of Other Agreements.

     This Indenture may not be used to interpret another indenture, loan or debt agreement of the
Company or a Subsidiary of the Company. Any such indenture, loan or debt agreement may not be used
to interpret this Indenture.

Section 10.12     Successors.

     All agreements of the Company in this Indenture and the Securities shall bind its successor.
All agreements of the Trustee in this Indenture shall bind its successor.

Section 10.13     Severability.

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

Section 10.14     Table of Contents, Headings, Etc. 

     The Table of Contents, Cross Reference Table, and headings of the Articles and Sections of
this Indenture have been inserted for convenience of reference only, are not to be considered a
part hereof, and shall in no way modify or restrict any of the terms or provisions hereof.

Section 10.15     Securities in a Foreign Currency or in ECU.

     Unless otherwise specified in a Board Resolution, a supplemental indenture hereto or an
Officers’ Certificate delivered pursuant to Section 2.2 of this Indenture with respect to a
particular Series of Securities, whenever for purposes of this Indenture any action may be taken by
the Holders of a specified percentage in aggregate principal amount of Securities of all Series or
all Series affected by a particular action at the time outstanding and, at such time, there are
outstanding Securities of any Series which are denominated in a coin or currency other than Dollars
(including ECUs), then the principal amount of Securities of such Series which shall be deemed to
be outstanding for the purpose of taking such action shall be that amount of Dollars that could be
obtained for such amount at the Market Exchange Rate at such time. For purposes of this Section
10.15, “Market Exchange Rate” shall mean the noon Dollar buying rate in New York City for cable
transfers of that currency as published by the Federal Reserve Bank of New York; provided,
however, in the case of ECUs, Market

39

 

Exchange Rate shall mean the rate of exchange determined by the Commission of the European
Union (or any successor thereto) as published in the Official Journal of the European Union (such
publication or any successor publication, the “Journal”). If such Market Exchange Rate is not
available for any reason with respect to such currency, the Trustee shall use, in its sole
discretion and without liability on its part, such quotation of the Federal Reserve Bank of New
York or, in the case of ECUs, the rate of exchange as published in the Journal, as of the most
recent available date, or quotations or, in the case of ECUs, rates of exchange from one or more
major banks in The City of New York or in the country of issue of the currency in question or, in
the case of ECUs, in Luxembourg or such other quotations or, in the case of ECUs, rates of exchange
as the Trustee, upon consultation with the Company, shall deem appropriate. The provisions of this
paragraph shall apply in determining the equivalent principal amount in respect of Securities of a
Series denominated in currency other than Dollars in connection with any action taken by Holders of
Securities pursuant to the terms of this Indenture.

     All decisions and determinations of the Trustee regarding the Market Exchange Rate or any
alternative determination provided for in the preceding paragraph shall be in its sole discretion
and shall, in the absence of manifest error, to the extent permitted by law, be conclusive for all
purposes and irrevocably binding upon the Company and all Holders.

Section 10.16     Judgment Currency. 

     The Company agrees, to the fullest extent that it may effectively do so under applicable law,
that (a) if for the purpose of obtaining judgment in any court it is necessary to convert the sum
due in respect of the principal of or interest or other amount on the Securities of any Series (the
"Required Currency”) into a currency in which a judgment will be rendered (the “Judgment
Currency”), the rate of exchange used shall be the rate at which in accordance with normal banking
procedures the Trustee could purchase in The City of New York the Required Currency with the
Judgment Currency on the day on which final unappealable judgment is entered, unless such day is
not a New York Banking Day, then the rate of exchange used shall be the rate at which in accordance
with normal banking procedures the Trustee could purchase in The City of New York the Required
Currency with the Judgment Currency on the New York Banking Day preceding the day on which final
unappealable judgment is entered and (b) its obligations under this Indenture to make payments in
the Required Currency (i) shall not be discharged or satisfied by any tender, any recovery pursuant
to any judgment (whether or not entered in accordance with subsection (a)), in any currency other
than the Required Currency, except to the extent that such tender or recovery shall result in the
actual receipt, by the payee, of the full amount of the Required Currency expressed to be payable
in respect of such payments, (ii) shall be enforceable as an alternative or additional cause of
action for the purpose of recovering in the Required Currency the amount, if any, by which such
actual receipt shall fall short of the full amount of the Required Currency so expressed to be
payable, and (iii) shall not be affected by judgment being obtained for any other sum due under
this Indenture. For purposes of the foregoing, “New York Banking Day” means any day except a
Saturday, Sunday or a legal holiday in The City of New York on which banking institutions are
authorized or required by law, regulation or executive order to close.

40

 

ARTICLE XI.

SINKING FUNDS

Section 11.1     Applicability of Article. 

     The provisions of this Article shall be applicable to any sinking fund for the retirement of
the Securities of a Series, except as otherwise permitted or required by any form of Security of
such Series issued pursuant to this Indenture.

     The minimum amount of any sinking fund payment provided for by the terms of the Securities of
any Series is herein referred to as a “mandatory sinking fund payment” and any other amount
provided for by the terms of Securities of such Series is herein referred to as an “optional
sinking fund payment.” If provided for by the terms of Securities of any Series, the cash amount of
any sinking fund payment may be subject to reduction as provided in Section 11.2. Each sinking fund
payment shall be applied to the redemption of Securities of any Series as provided for by the terms
of the Securities of such Series.

Section 11.2     Satisfaction of Sinking Fund Payments with Securities.

     The Company may, in satisfaction of all or any part of any sinking fund payment with respect
to the Securities of any Series to be made pursuant to the terms of such Securities (1) deliver
outstanding Securities of such Series to which such sinking fund payment is applicable (other than
any of such Securities previously called for mandatory sinking fund redemption) and (2) apply as
credit Securities of such Series to which such sinking fund payment is applicable and which have
been repurchased by the Company or redeemed either at the election of the Company pursuant to the
terms of such Series of Securities (except pursuant to any mandatory sinking fund) or through the
application of permitted optional sinking fund payments or other optional redemptions pursuant to
the terms of such Securities, provided that such Securities have not been previously so credited.
Such Securities shall be received by the Trustee, together with an Officers’ Certificate with
respect thereto, not later than 15 days prior to the date on which the Trustee begins the process
of selecting Securities for redemption, and shall be credited for such purpose by the Trustee at
the price specified in such Securities for redemption through operation of the sinking fund and the
amount of such sinking fund payment shall be reduced accordingly. If as a result of the delivery or
credit of Securities in lieu of cash payments pursuant to this Section 11.2, the principal amount
of Securities of such Series to be redeemed in order to exhaust the aforesaid cash payment shall be
less than $100,000, the Trustee need not call Securities of such Series for redemption, except upon
receipt of a Company Order that such action be taken, and such cash payment shall be held by the
Trustee or a Paying Agent and applied to the next succeeding sinking fund payment, provided,
however, that the Trustee or such Paying Agent shall from time to time upon receipt of a Company
Order pay over and deliver to the Company any cash payment so being held by the Trustee or such
Paying Agent upon delivery by the Company to the Trustee of Securities of that Series purchased by
the Company having an unpaid principal amount equal to the cash payment required to be released to
the Company.

Section 11.3     Redemption of Securities for Sinking Fund. 

     Not less than 45 days (unless otherwise indicated in the Board Resolution, supplemental
indenture hereto or Officers’ Certificate in respect of a particular Series of Securities) prior to
each sinking fund payment date for any Series of Securities, the Company

41

 

will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing
mandatory sinking fund payment for that Series pursuant to the terms of that Series, the portion
thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which
is to be satisfied by delivering and crediting of Securities of that Series pursuant to Section
11.2, and the optional amount, if any, to be added in cash to the next ensuing mandatory sinking
fund payment, and the Company shall thereupon be obligated to pay the amount therein specified. Not
less than 30 days (unless otherwise indicated in the Board Resolution, Officers’ Certificate or
supplemental indenture in respect of a particular Series of Securities) before each such sinking
fund payment date the Trustee shall select the Securities to be redeemed upon such sinking fund
payment date in the manner specified in Section 3.2 and cause notice of the redemption thereof to
be given in the name of and at the expense of the Company in the manner provided in Section 3.3.
Such notice having been duly given, the redemption of such Securities shall be made upon the terms
and in the manner stated in Sections 3.4, 3.5 and 3.6.

42

 

     IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed as of
the day and year first above written.

	 	 	 	 	 
	 	LDK Solar Co., Ltd.

 	 
	 	By:  	 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 

	 	 	 	 	 
	 	The Bank of New York Mellon,

as Trustee

 	 
	 	By:  	 	 
	 	Name:  	 	 
	 	Title:  	 	 

[Signature Page to Indenture]Exhibit 10.1
                                  ------------

                AMENDED AND RESTATED TECHNOLOGY LICENSE AGREEMENT
                -------------------------------------------------

         THIS AMENDED AND RESTATED TECHNOLOGY LICENSE AGREEMENT (the
"Agreement"), made as of the 16th day of May, 2008, by and between CopyTele,
Inc., a Delaware corporation having an address at 900 Walt Whitman Road,
Melville, New York 11747 ("CopyTele"), and Videocon Industries Limited, a
company existing under the laws of India, having its principal place of business
at 2nd Floor Fort House, D.N. Road, Fort, Mumbai - 400 001 (INDIA) ("Videocon").

                              W I T N E S S E T H:

         WHEREAS CopyTele has developed and is the owner of technology (the
"CopyTele Technology"), variously protected by patents, patent applications,
know-how and trade secrets, relating to thin flat Low Voltage Phosphor displays
("Displays"); and

         WHEREAS,  Videocon is in the  business of  developing,  manufacturing,
and selling CRT, LCD and Plasma displays; and

         WHEREAS, Videocon and CopyTele propose jointly to further develop the
CopyTele Technology to make it suitable to be utilized in commercial
applications such as television displays; and

         WHEREAS, the Parties desire to set forth their agreement for
manufacturing and selling Modules containing Displays; and

         WHEREAS, Videocon desires to receive a transfer of the CopyTele
Technology and a license under the CopyTele Technology for the manufacture and
distribution of such Modules; and

         WHEREAS, CopyTele is willing to transfer such CopyTele Technology and
grant Videocon such a license, subject to the terms and conditions of this
Agreement;

         WHEREAS, CopyTele and Videocon had entered into a Technology License
Agreement on 2nd November 2007 which will be amended, restated and replaced by
this Agreement.

         WHEREAS, Government of India, Ministry of Commerce & Industry,
Department of Industrial Policy & Promotion, Secretariat for Industrial
Assistance (PAB - IL Section) has granted its approval to certain terms and
conditions of this Agreement vide letter No. 27 (2008) / 7 (2008) / PAB - IL,
which shall form an integral part of this Agreement and has been incorporated in
this Agreement in the form of Exhibit F.

         NOW, THEREFORE, in consideration of their mutual covenants herein
contained, and for other good and valuable consideration, and intending to be
legally bound hereby, the parties hereto agree as follows:

Article I.        DEFINITIONS
<PAGE>

Section 1.01 "Copyright Rights" shall mean all rights in works of authorship,
including diagrams, schematics, flow charts, manuals, and documentation,
relating to the CopyTele Technology (all of the foregoing works being referred
to herein as the "Works"), including registrations of copyright in the Works.

Section 1.02 "CopyTele Technology" shall have the meaning set forth in the
preamble, and shall include nanotube devices for use in displays, as well as
thin film electron emitters and shall also include the technical information,
know-how, manufacturing techniques, engineering data, specification of materials
and other information in the possession of CopyTele relating to or in respect of
manufacture and use of the Products and all or part of which may be necessary to
enable Videocon to manufacture the Products to a standard and quality similar to
the standard and quality of Modules.

Section 1.03 "Dhoot Family" shall mean Mr. V.N. Dhoot, Mr. P.N. Dhoot, Mr. R.N.
Dhoot and any of their spouses and children.

Section 1.04 "Effective Date" shall mean May 16, 2008.

Section 1.05 "Ex-Factory Price" shall have the meaning set forth in Exhibit E.

Section 1.06 "Modules" shall have the meaning set forth in Exhibit A.

Section 1.07 "Products" shall mean Modules that are (a) within the scope of any
claim of the Patent Rights or (b) made with the use of or embody any of the
Trade Secrets or the Works.

Section 1.08 "Patent Rights" shall mean those United States and foreign patents
and patent applications and design applications and registrations identified in
Exhibit B, and patents and patent applications in the same and other countries
having the same substantive disclosure and claiming the benefit of such
applications, including continuations, divisionals, re-examinations, re-issues
and extensions thereof.

Section 1.09 "Trade Secrets" shall mean all confidential and proprietary
technical information of CopyTele relating to the CopyTele Technology and
disclosed by CopyTele to Videocon in connection with this Agreement.

Section 1.10 "Videocon Group Company" shall mean a company in which Videocon,
the Dhoot Family, or both hold either directly or indirectly at least 50% of the
share capital or have management control.

Article II.       LICENSE

Section 2.01 CopyTele hereby grants to Videocon, subject to the provisions of
Section 2.04 below, a non-transferable, worldwide, royalty-bearing right and
license under the Patent Rights, the Trade Secrets, the Copyright Rights and
other CopyTele Technology to manufacture, use, sell, and offer for sale Products
or other Products that CopyTele and Videocon may mutually agree upon in writing.
CopyTele shall continue to have the right to produce and market, and to utilize
the entities listed in Exhibit C to produce and market, Products utilizing the
CopyTele Technology.
<PAGE>

Section 2.02 Joint agreement of CopyTele and Videocon in writing shall be
necessary in case of grant of licenses to third parties under the CopyTele
Technology, upon reasonable terms and conditions as agreed by CopyTele and
Videocon.

Section 2.03 The license granted herein does not include the right to have
Products made by another.

Section 2.04 Videocon shall be entitled to grant sublicense of the Patent
Rights, Trade Secrets, Copyright Rights and other CopyTele Technology only to
other Videocon Group Company/ies (any such Videocon Group Company to which
Videocon has granted such a sublicense, a "Sublicensee"), and any such
sublicense shall be subject to the terms and conditions of this Section 2.04. In
the event that Videocon sublicenses the Patent Rights, the Trade Secrets, the
Copyright Rights or other CopyTele Technology to any Sublicensee, such
Sublicensee shall be bound by the terms of this Agreement, including, without
limitation, that it shall be liable to pay to CopyTele royalty for the Products
sold by it on the same terms and at the same rate as provided in Article VI. In
the event of any such sublicense, Videocon shall procure in writing from such
Sublicensee a sublicense agreement confirming the payment of royalty and
adherence of the terms and conditions of this Agreement as applicable to it, and
shall provide to CopyTele a copy of such sublicense agreement. Videocon shall
give to CopyTele prompt written notice of such sublicense, setting forth the
name and address of such Sublicensee, jurisdiction of incorporation or
formation, and precise amount and nature of Videocon's and the Dhoot Family's
ownership interest therein. In the event any Sublicensee to whom such
sub-license is granted ceases to qualify as Videocon Group Company, the
sublicense granted to such Sublicensee shall forthwith stand terminated.
Videocon shall be responsible for the performance by any permitted Sublicensee,
and any breach by any permitted Sublicensee shall be deemed a breach by
Videocon.

Section 2.05 The license granted herein includes the right only to sell and
offer for sale completed Products, and not components or sub-assemblies thereof,
to any third party or Videocon Group Company. However, Videocon or any
Sublicensee shall be entitled to sell the components or sub-assemblies to any
other Videocon Group Company.

Section 2.06 The rights licensed under the Copyright Rights include the rights
to copy and modify the Works for the internal use of Videocon in connection with
the manufacture, use, sale and offer for sale of Products, but not the right to
publish, distribute, transmit or publicly display the Works, or any combination
thereof, in whole or in part.

Article III.      DISCLOSURE AND TARGET JOINT DEVELOPMENT PROGRAM

Section 3.01 CopyTele shall use its commercially reasonable efforts to disclose
to Videocon the CopyTele Technology to the extent required for suitably
qualified and experienced (in the reasonable judgment of CopyTele) personnel of
Videocon to understand the CopyTele Technology. Such efforts shall consist of
furnishing to Videocon such copies of existing documentation of the CopyTele
Technology as CopyTele deems reasonable, and providing reasonable training of
suitably qualified and experienced (in the reasonable judgment of CopyTele)
Videocon personnel at CopyTele's facility in Melville, New York, or at
Videocon's facilities at mutually agreeable times.
<PAGE>

Section 3.02 CopyTele and Videocon shall jointly cooperate, prior to production,
to jointly implement the CopyTele Technology to produce prototypes of the
Modules in accordance with the target task & schedule as indicated in Exhibit D.
Any patent required to be registered in respect of such implementation of the
CopyTele Technology shall be jointly applied for by CopyTele and Videocon.

Article IV.        PRODUCTION

Section 4.01 To prepare for the production and manufacture of the Products,
Videocon, at Videocon's sole expense, with the assistance of CopyTele, shall
undertake the following:

(a)      Videocon shall provide all design and process engineering required to
         produce the Products based on the CopyTele Technology.

(b)      CopyTele and Videocon shall hold joint design reviews as required from
         time to time.

(c)      CopyTele and Videocon shall jointly agree, in writing, concerning
         Product acceptance and testing criteria for engineering samples.

(d)      Videocon and CopyTele shall each record all progress and achievements
         in preparation for production and deliver progress reports to the other
         within one week after the end of each calendar month until the
         commencement of commercial production of the Products.

(e)      Videocon shall purchase, at its sole expense, all tooling and fixtures
         for the production of Products.

Section 4.02 Throughout the term of this Agreement, Videocon shall deliver
(and/or cause to be delivered by a Sublicensee) to CopyTele such information as
CopyTele shall reasonably request regarding Videocon's (or such Sublicensee's)
testing of the Products.

Section 4.03 After commencement of commercial production of the Products,
Videocon and any permitted Sublicensee shall provide CopyTele with production
samples from time to time as may be reasonably requested by CopyTele. Videocon
and CopyTele shall hold joint reviews of such production as may be reasonably
necessary to ensure quality of the Product from time to time.

Section 4.04 Videocon may purchase raw materials for use in production of
Products from any source, including CopyTele, as elected by Videocon.

Article V.        IMPROVEMENTS

Section 5.01 All developments and improvements subsequent to the Effective Date
in the Products, design changes, modifications, revisions, additions and the
like to CopyTele Technology ("Improvements") developed, conceived or reduced to
practice jointly or severally by employees of Videocon (or contractors or agents
of Videocon), or employees of CopyTele (or contractors or agents of CopyTele),
shall be jointly owned, in equal undivided shares, by Videocon and CopyTele. The
parties shall decide jointly on seeking patent protection in any Improvements
and in strategy in filing and prosecuting patent applications, and shall share
equally in the expense of patent application preparation and prosecution, and
patent maintenance.
<PAGE>

Section 5.02 Each party shall execute, and shall cause its employees,
contractors and agents to execute, such assignments of patent applications,
confirmatory licenses, and other documents that the other or its counsel may
reasonably request to assure that the rights licensed and granted under this
Article V fully vest in the other party.

Section 5.03 Videocon represents, warrants and covenants that there now are and
will be throughout the term of this Agreement valid and enforceable written
agreements, between Videocon and its employees, contractors and agents, pursuant
to which Videocon will have sole ownership of any Improvement and sole ownership
of any contribution of such employee, contractor or agent to any Improvement,
and further obligating such employees, contractors and agents to provide
cooperation, execute documents, and otherwise perform those acts as may be
required for Videocon to fulfill its obligations under Sections 5.01 and 5.02
hereof. Videocon further warrants that the grant of Improvements to CopyTele
shall be free of any claims for compensation by any Videocon employee,
contractor or agent.

Article VI.       PAYMENTS; INSEPCTION; REFERRAL

Section 6.01 FEE AMOUNTS. In consideration of the disclosure of CopyTele
Technology under this Agreement, Videocon agrees to pay CopyTele the technology
transfer fees ("Technology Transfer Fees") in the amounts and on the dates set
forth in Exhibit E. In consideration of the license granted herein, Videocon
agrees to pay CopyTele a royalty (the "Percentage Royalty") equal to the
Percentage Royalty Rate, as set forth in Exhibit E, of the Ex-Factory Price of
all Products sold by Videocon or any permitted Sublicensee to any party. In the
event of any sublicense, Videocon shall ensure that such Sublicensee pays to
CopyTele the Percentage Royalty as set forth in Exhibit E.

Section 6.02 TIME OF PAYMENT. Videocon shall pay to CopyTele the Technology
Transfer Fees at the times set forth in Exhibit E. Videocon shall pay, and cause
each Sublicensee, as applicable, to pay, to CopyTele the Percentage Royalties
with respect to sales in each calendar quarter on or before the 90th day
following the end of such calendar quarter.

Section 6.03 MANNER OF PAYMENT. Payments shall be made, in U.S. dollars, by
electronic transfer to an account, designated by CopyTele in writing, no later
than the due date.

Section 6.04 LATE PAYMENTS; INTEREST. If Videocon or any Sublicensee fails to
make any payment of Percentage Royalties, Technology Transfer Fees or other
amount due under this Agreement to CopyTele within ten business days of its due
date, Videocon or such Sublicensee shall, in addition to and without limitation
of CopyTele's other remedies hereunder, pay to CopyTele interest thereon from
the date ten business days after its due date until paid at the annual rate
equal to LIBOR then in effect plus 5% per annum; provided that in no event shall
the rate of interest required hereunder exceed the maximum rate permitted under
applicable law.

Section 6.05 AUDIT. Videocon shall deliver to CopyTele a statement of the
royalty calculations as certified by its statutory auditors (and those of any
Sublicensee that is liable to pay a royalty in accordance with this Article VI),
stating the amount of the license fees payable to CopyTele under this Agreement.
Such statement of royalty calculations shall be delivered by Videocon to
CopyTele on or before 20th July for each period of January to June and on or
before 20th January for each period of July to December. In the event CopyTele
requires any further details in respect of any amounts stated in the
calculations statements, Videocon shall within 7 (seven) working days of such
request furnish such required details and/or invoice, as the case may be
including extracts from its books of records duly certified by the statutory
auditors. In the event Videocon and CopyTele are unable to resolve any
differences as regards payment of royalty, the matter will be referred to CEO of
CopyTele and Videocon. In the event the matter remains unresolved after such
reference to CEOs of CopyTele and Videocon, the differences shall be referred to
arbitration under the provisions of Section 15.09. Such submission of accounts
statement and furnishing of additional details, invoices and extracts, as the
case may be shall be at CopyTele's expense, provided, however, that if
underpayment by Videocon is determined to be more than 10% of the total payments
owed for the relevant period, Videocon shall repay and/or reimburse to CopyTele
the cost incurred for preparation of the accounts statement and furnishing of
the required details, invoices and extracts.
<PAGE>

Section 6.06 COMPUTATION OF ROYALTIES. Royalties shall be payable based on the
invoicing of all Products, whether to third parties or to any Videocon Group
Company, whether by Videocon or by any other Videocon Group Company, and whether
or not for captive consumption by Videocon, at the Percentage Royalty rate as
set forth in Exhibit E.

Section 6.07 REFERRALS. If CopyTele receives any orders for Products, it may, in
its sole discretion, refer any such orders to Videocon. Videocon shall use its
best efforts to sell, or cause a Videocon Group Company to sell, in accordance
with this Agreement, such Products as may be necessary to fulfill any orders
referred to Videocon by CopyTele and any orders that CopyTele places provided,
however, the price to be paid to Videocon (or the Sublicensee as the case may
be), shall not be less than the price at which Videocon (or the Sublicensee, as
the case may be) is selling the same product otherwise to other customers.

Article VII.      EFFORTS TO MARKET

Videocon shall use its best efforts to exploit the rights granted to it hereby
and to sell the Products therein consistent with the limitations of this
Agreement. Videocon shall be entitled to advertise the manufacture and/or sale
of the Products by them through any media as Videocon may deem appropriate.

Article VIII.     TAXES

Any sales, use, rental, receipt, personal property, value-added, consumption,
goods and services, customs, excise or other tax or duty which may be levied or
assessed in connection with the licenses granted under this Agreement, the
disclosure and/or transfer of CopyTele Technology, and/or the payment of fees
under this Agreement, shall be the sole responsibility of Videocon or its
Sublicensee as the case may be. Videocon shall indemnify CopyTele from and
against any charge or assessment for any such tax or duty. Notwithstanding the
foregoing, if the Government of India or of the country of any Sublicensees
imposes a tax on royalties payable hereunder to CopyTele, then Videocon or such
Sublicensee shall pay such tax on behalf of CopyTele, shall deduct and adjust
such tax paid from the royalty payable to CopyTele and shall submit a Tax
Deduction Certificate to CopyTele. In the event CopyTele requires any assistance
in seeking credit or deduction of such payments made in connection with
CopyTele's taxes in the United States, Videocon or the Sublicensee as the case
may be, shall render all its co-operation and assistance therefore.
<PAGE>

Article IX.       CONFIDENTIAL INFORMATION.

Section 9.01 DEFINITION. The Trade Secrets and all information communicated by
either of CopyTele or Videocon (a "disclosing party") to the other (a "receiving
party"), in oral, written or electronic form, which is confidential to the
disclosing party and provides value to the disclosing party at least in part by
virtue of its confidential status, shall be deemed Confidential Information
pursuant to this Agreement. In addition, and without limitation, the terms and
conditions of this Agreement shall be deemed Confidential Information.

Section 9.02 CONFIDENTIAL NATURE. Each party, as a receiving party, acknowledges
that the Confidential Information of the disclosing party is valuable and
confidential proprietary information of the disclosing party, and that the value
of the Confidential Information derives at least in part from its confidential
status.

Section 9.03 MAINTENANCE OF CONFIDENTIALITY. Each party, as a receiving party,
agrees to engage in efforts to maintain Confidential Information of the
disclosing party in strict confidence at least as stringent as the efforts that
the receiving party engages in to protect its own confidential information, and
in any event no less than commercially reasonable efforts. Without limiting the
foregoing, the receiving party shall restrict access to the Confidential
Information of the disclosing party, by electronic security measures in the case
of electronic files, and by physical security measures in the case of hard
copies, to those employees who have a need to know such Confidential Information
and shall advise those employees of the restrictions of this Agreement prior to
any such disclosure. The receiving party shall immediately advise the disclosing
party of any threatened, actual or apprehended disclosure of any Confidential
Information.

Section 9.04 EXCEPTIONS. As used in this Agreement, Confidential Information
shall not include:

    (a)  Information which is now available to the public or hereafter becomes
         available to the public without any violation of this Agreement;

    (b)  Information disclosed in good faith to the receiving party by a third
         party legally entitled to disclose the same; and

    (c)  Information is required to be disclosed to any government agency or any
         regulatory authority or a court of competent jurisdiction provided that
         the parties agree to use their best efforts to minimize the disclosure
         of such information and shall consult with and assist the other party.

provided, however, that specific information shall not be deemed to be within
any of the foregoing exceptions merely because it is in the scope of more
general information within any such exceptions and a combination of features
shall not be deemed to be within any such exceptions merely because individual
features are within such exception.

Section 9.05 DISCLOSURES. Under no circumstances shall the receiving party,
without the prior written approval of the disclosing party, acknowledge to any
third party what is or is not a part of Confidential Information of the
disclosing party. In the event disclosure is required of the receiving party
under provisions of any law or court order, the receiving party will notify the
disclosing party of the obligation to make such disclosure upon receipt of such
notification or order to disclose under any law or court order. The disclosing
party may make necessary application to the concerned government department
and/or court objecting to such disclosure of Confidential Information. However,
in the event the receiving party is required to make disclosures irrespective of
the outcome of any such application, it shall do so and notify the disclosing
party accordingly. In the event of required disclosure, the receiving party will
assert confidentiality to all Confidential Information of the disclosing party
not directly required to be disclosed.
<PAGE>

Section 9.06 PUBLIC DISCLOSURES. Notwithstanding the foregoing, each receiving
party shall be allowed to disclose Confidential Information of the disclosing
party to make any necessary announcement or reporting required by the U.S.
Securities and Exchange Commission, any stock exchange, the NASDAQ Stock Market,
the Securities and Exchange Board of India. However, the party making the
disclosure shall use reasonable efforts to notify the other party in advance of
the contents of the announcement or the reporting.

Article X.        MARKING.

Videocon and its permitted Sublicensees shall include proprietary markings on
all Products, in a form reasonably specified by CopyTele in writing from time to
time, and including a patent notice in the form "Pat. X,XXX,XXX" and/or "Pat.
Pending."

Article XI.       TERM; TERMINATION

Section 11.01 TERM. The license and other rights herein granted shall commence
upon the Effective Date and shall continue unless terminated by either party as
provided in clause 11.02 hereafter; provided, however, that the parties'
obligations under Article IX shall commence immediately.

Section 11.02 TERMINATION. This Agreement and the licenses and other rights
granted hereunder may be terminated by either party by written notice upon: (a)
a material breach by the other party of its obligations hereunder, which
material breach remains unremedied 90 (ninety) days after written notice thereof
to the breaching party by the aggrieved party; (b) a filing by or against either
party for protection, receivership, reorganization or dissolution under the
Federal Bankruptcy Code or similar laws of any state or foreign country relating
to insolvency, bankruptcy or the protection of debtors; (c) a cessation by
either party of the conduct of its business in the ordinary course; (d) at any
time prior to the Effective Date (and in such case, this Agreement shall be of
no further force or effect, other than Articles IX and XII hereof, which shall
continue); or (e) or as otherwise mutually decided by the parties.

Article XII.      RIGHTS AND DUTIES ON TERMINATION.

         Upon the termination for any reason of the license and other rights
herein granted, Videocon agrees immediately to, and to cause all permitted
Sublicensees to: (a) cease and desist from any and all activities requiring use
of the rights granted hereunder, including without limitation the manufacture,
use, sale or offer for sale of Products, provided, however, that Videocon may
sell in the ordinary course of business Products completely manufactured as of
the effective date of termination, subject to all applicable terms and
conditions of this Agreement; (b) destroy or return to CopyTele all papers,
documents, notebooks, charts, computer programs, computer files, records and all
other stored information in any form incorporating any portion of the
Confidential Information; (c) direct any and all employees of Videocon and/or
employees of Sublicensee who have or have had access to any portion of the
Confidential Information not to make any further use or disclosure of any
portion of the Confidential Information for any purpose; and (d) submit a
certificate confirming having complied with (a), (b) and (c) above.
<PAGE>

Article XIII.     PATENT PROSECUTION AND MAINTENANCE; INFRINGEMENTS.

Section 13.01 GENERAL. The prosecution and maintenance of patents and
applications within the Patent Rights shall be conducted by CopyTele at
CopyTele's sole expense, in the sole and absolution discretion of CopyTele, by
counsel selected by CopyTele.

Section 13.02 ACTIONS. In the event that either party, or any permitted
Sublicensee, becomes aware of an actual, apprehended or suspected infringement
of any of the rights licensed hereunder, the parties shall promptly consult with
respect thereto. In event of an infringement, both parties must consent to any
grant of a license to the infringer. If either party refuses, in its sole and
absolute discretion, to grant a license to the infringer, then both parties must
join in an infringement suit; the parties shall jointly select counsel, shall
jointly approve any settlement, and shall share equally in expenses and any
recovery. If either party refuses, in its sole and absolute discretion, to join
in an infringement suit, then the other party may file suit for infringement and
if necessary make the other party a party defendant at the cost of the party
filing suit. The party pursuing the suit shall select counsel, approve any
settlement, and shall bear all of the costs of enforcement and retain any
recovery in its entirety. The party not joining the suit shall, at the
reasonable request and expense of the party pursuing the suit, provide such
information, documents and assistance as may be deemed necessary or appropriate
by the party pursuing the suit or its counsel in connection with enforcement
against such infringement.

Section 13.03 NOTICES. Videocon shall notify CopyTele immediately in writing of
any infringement or possible infringements made known to Videocon or any
permitted Sublicensee of any right of CopyTele. Videocon shall provide at the
reasonable request and expense of CopyTele and at CopyTele's expense, such
information, document and assistance as may be deemed necessary or appropriate
by CopyTele or its counsel in connection with enforcement against such
infringement.

Article XIV.      REPRESENTATIONS AND WARRANTIES.

Section 14.01 NO CONFLICTS. CopyTele represents and warrants that it has the
right to enter into this Agreement, to grant the rights granted herein, and to
perform its obligations hereunder, and that to do so will not violate or
conflict with any agreement to which CopyTele is a party or by which CopyTele is
bound, and that the Copyright Rights and Patent Rights do not violate the rights
of any third party.

Section 14.02 AUTHORITY. Videocon represents and warrants that it has the right,
power and authority to enter into this Agreement and to perform its obligations
hereunder, and to do so will not violate or conflict with any agreement to which
Videocon is a party or by which Videocon is bound.

Section 14.03 NO OTHER WARRANTIES. COPYTELE HEREBY DISCLAIMS ANY AND ALL OTHER
WARRANTIES, EXPRESS OR IMPLIED, RELATING TO THE COPYTELE TECHNOLOGY AND THE
RIGHTS GRANTED UNDER THIS AGREEMENT, INCLUDING WITHOUT LIMITATION WARRANTIES OF
MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, WARRANTIES OF VALIDITY,
ENFORCEABILITY AND/OR NON-INFRINGEMENT.
<PAGE>

Section 14.04 NO INDIRECT, SPECIAL, OR CONSEQUENTIAL DAMAGES. IN NO EVENT SHALL
COPYTELE BE LIABLE TO VIDEOCON OR ANY THIRD PARTY FOR ANY INDIRECT, SPECIAL OR
CONSEQUENTIAL DAMAGES, INCLUDING WITHOUT LIMITATION WORK DELAYS OR LOST PROFITS,
RESULTING FROM THE USE OF THE COPYTELE TECHNOLOGY AND/OR PRODUCTS.

Section 14.05 INDEMNITY BY VIDEOCON. Videocon shall indemnify and hold harmless
CopyTele and its directors, officers, agents and employees from and against all
claims, suits, and damages whatsoever, including but not limited to incidental
costs, attorney's fees and punitive damages, arising from or in connection with
the breach or alleged breach by Videocon of any covenant, representation or
warranty under this Agreement or the use of the CopyTele Technology by Videocon
or any permitted Sublicensee, including the manufacture, distribution,
marketing, sale and use of Products, and including without limitation all claims
for false or misleading advertising, personal injury or property damage relating
to Products; provided, however, that CopyTele shall (a) promptly notify Videocon
in writing of such claims, and (b) provide to Videocon all reasonably available
information, assistance and authority to defend, however, reserving unto
CopyTele the right to: participate in any defense to the extent that, in its
judgment, CopyTele may be prejudiced thereby, and approve any settlement offer
made by or to Videocon which may affect CopyTele's rights or interests.

Section 14.06 INDEMNITY BY COPYTELE. CopyTele shall indemnify and hold harmless
Videocon and its directors, officers, agents and employees from and against all
claims, suits, and damages whatsoever, including but not limited to incidental
costs, attorney's fees and punitive damages, arising from or in connection with
the breach or alleged breach by CopyTele of any covenant, representation or
warranty under this Agreement or the use of CopyTele Technology by Videocon;
provided, however, that Videocon shall (a) promptly notify CopyTele in writing
of such claims, and (b) provide to CopyTele all reasonably available
information, assistance and authority to defend, however, reserving unto
Videocon the right to: participate in any defense to the extent that, in its
judgment, Videocon may be prejudiced thereby, and approve any settlement offer
made by or to CopyTele which may affect Videocon's rights or interests.

Section 14.07 NOTICE OF ACTIONS. Videocon agrees to notify CopyTele immediately
of any actions, claims or demands brought or made against Videocon whose outcome
may affect the rights of CopyTele in any of the rights licensed or otherwise
granted under this Agreement.

Article XV.       MISCELLANEOUS.

Section 15.01 ENTIRE AGREEMENT; AMENDMENTS. This Agreement is the entire
agreement of the parties with respect to the subject matter hereof, and
supersedes all prior or contemporaneous agreements, arrangements, and
understandings, whether oral or written, regarding the subject matter hereof.
This Agreement may be amended only by a written instrument signed on behalf of
the parties by their duly authorized representatives.
<PAGE>

Section 15.02 BINDING AGREEMENT; ASSIGNMENT. This Agreement shall be binding
upon and inure to the benefit of the parties and their respective successors,
legal representatives and assigns. This Agreement and the license herein granted
shall be assignable and transferable by CopyTele, upon written notice to
Videocon. Videocon shall have no right to assign this Agreement or the license
granted herein except with the written consent of CopyTele. For purposes of this
Section 15.02, a change in control of Videocon or a merger in which Videocon
does not survive shall be deemed an assignment.

Section 15.03 RELATIONSHIP OF PARTIES. In making and performing this Agreement,
CopyTele and Videocon act and shall act at all times as independent contractors
and nothing contained in this Agreement shall be construed or implied to create
an agency or partnership relationship between the parties. At no time shall
either party make commitments or incur any charges or expenses for or in the
name of the other.

Section 15.04 SURVIVAL. It is expressly understood and agreed that Article V
(but only as to Improvements conceived, developed and reduced to practice prior
to termination or cancellation), Article VI, Article VIII, Article IX, Article
XII, Article XIV, and Article XV hereof shall survive the termination of this
Agreement and of the license herein granted and shall remain in full force and
effect.

Section 15.05 GOVERNING LAW. This Agreement shall be governed by and construed
in accordance with the laws of India, without giving effect to conflict of laws.

Section 15.06 APPROVAL. Government of India, Ministry of Commerce & Industry,
Department of Industrial Policy & Promotion, Secretariat for Industrial
Assistance (PAB - IL Section) has granted its approval to certain terms and
conditions of this Agreement vide letter No. 27 (2008) / 7 (2008) / PAB - IL,
which shall form an integral part of this Agreement and has been incorporated in
this Agreement in the form of Exhibit F.

Section 15.07 NOTICES. Any notice or other communication required or permitted
to be given hereunder shall be in writing and shall be given by Federal Express,
Express Mail, or similar overnight delivery or courier service or delivered (in
person or by telecopy or similar telecommunications equipment) against receipt
to the party to whom it is to be given at the address of such party set forth
for such party below (or to such other address as the party shall have furnished
in writing in accordance with the provisions of this Section 15.07), with a copy
to each of the other parties hereto. Any notice shall be deemed given at the
time of receipt thereof.

                  If to CopyTele:

                  CopyTele, Inc.
                  900 Walt Whitman Road
                  Melville, New York 11747
                  United States of America
                  Attention:  Denis A. Krusos, Chairman & CEO
                  Fax:  631-549-3813
<PAGE>

                  If to Videocon:

                  Videocon Industries Limited
                  2nd Floor, Fort House, D.N.Road
                  Fort, Mumbai 400 001, INDIA
                  Attention: Venugopal N. Dhoot, Director / Naveen Mandhana,
                  Sr. Vice President
                  Fax:  91-22-66551985

Section 15.08 SEVERABILITY. If any provision of this Agreement is invalid,
illegal, or unenforceable, the balance of this Agreement shall remain in effect,
and if any provision is inapplicable to any person or circumstance, it shall
nevertheless remain applicable to all other persons and circumstances.

Section 15.09 DISPUTES. Any dispute, difference or controversy arising out of or
relating to this Agreement, any document or instrument delivered pursuant to, in
connection with, or simultaneously with this Agreement, or any breach of this
Agreement or any such document or instrument, with the exception of an actual or
apprehended unlawful disclosure or misappropriation of Confidential Information,
shall be subject to settlement proceedings under the then-applicable
International Chamber of Commerce ("ICC") ADR Rules (or successor rules). If the
dispute has not been settled pursuant to the said Rules within 45 days following
the filing of a Request for ADR or within such other period as the parties may
agree in writing, such dispute shall be finally settled by arbitration under the
then-applicable Rules of Arbitration of the ICC (or successor rules), by a
proceeding conducted in London, England, United Kingdom, in the English
language, by a single arbitrator appointed in accordance with the said Rules of
Arbitration. The arbitrator may grant injunctions or other relief in such
dispute or controversy. The decision of the arbitrator shall be final,
conclusive, and binding on the parties to the arbitration. Judgment may be
entered on the arbitrator's decision in any court having jurisdiction, and the
parties irrevocably consent to the jurisdiction of the courts of the State of
New York and of any federal court located in such State for this purpose. In any
such arbitration, the parties waive personal service of any process or other
papers and agree that service thereof may be made in accordance with Section
15.07. Each party shall pay one-half of the costs and expenses of such
arbitration, and each shall separately pay its own attorneys' fees and expenses.
Notwithstanding the foregoing, either party may apply to any court of the State
of New York or any federal court located in such State for injunctive relief to
maintain the status quo until the arbitration award is rendered or the
controversy is otherwise resolved, and each party hereby consents to the
exclusive jurisdiction and venue of such courts for such purpose.

Section 15.10 INJUNCTIONS. Each party agrees that any actual, apprehended or
threatened disclosure of any portion of the Confidential Information of the
other to any third party will actually, materially and irreparably damage the
disclosing party, in an amount and a manner that is not capable of remedy by the
payment of damages alone, and each party shall have the right to obtain
injunctions, both permanent and preliminary or temporary restraining orders,
either on notice or ex parte, without the need to post bond, against continuing
any such violation or commencing any threatened violation.

Section 15.11 WAIVER. Any waiver by any party of a breach of any provision of
this Agreement shall not operate as or be construed to be a waiver of any other
breach of such provision or of any breach of any other provision of this
Agreement. The failure of a party to insist upon strict adherence to any term of
this Agreement on one or more occasions shall not be considered a waiver or
deprive that party of the right thereafter to insist upon strict adherence to
that term or any other term of this Agreement. Any waiver must be in writing.
<PAGE>

Section 15.12 COUNTERPARTS. This Agreement may be executed in any number of
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.

Section 15.13 HEADINGS. The headings in this Agreement are solely for
convenience of reference and shall be given no effect in the construction or
interpretation of this Agreement.

         IN WITNESS WHEREOF, the parties hereto have duly executed this
Agreement as of the date first above set forth.

COPYTELE, INC.                                 VIDEOCON INDUSTRIES LTD.

By: /s/ Denis A. Krusos                        By: /s/ Venugopal N. Dhoot
    -------------------                            ----------------------
    Denis A. Krusos                                Venugopal N. Dhoot
    Chairman & CEO                                 Chairman & Managing Director

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