Document:

Exhibit 10.49

EMPLOYMENT
AGREEMENT

 

This Employment Agreement is entered into by and among
AMC ENTERTAINMENT INC., a Delaware
corporation (“AMCE”), AMERICAN  MULTI-CINEMA, INC., a Missouri
corporation (“AMC” and, collectively with AMCE, the “Company”), and KEVIN M. CONNOR (“Employee”).
In consideration of the mutual promises and covenants contained herein, the
parties hereto agree as follows:

 

1.              Position and Duties.  During the Term (as defined
in Section 2) of his employment by the Company under this Agreement, Employee
shall devote his full time and attention to the business of the Company as
Senior Vice President, Legal of AMC Entertainment Inc.

 

2.              Term.  The
term of this Agreement shall commence as of November 6, 2002 and shall
terminate on November 5, 2004 or sooner as provided in Section 6 below (such
period, as it may be extended, the “Term”). On each November 6 hereafter,
commencing in 2003, one year shall be added to the Term of Employee’s
employment with the Company under this Agreement, so that as of each November 6
the Term of Employee’s employment hereunder shall be two (2) years.

 

3.              Compensation.

 

(a)           Base
Salary.  During the Term of
his employment by the Company under this Agreement, Employee shall receive an
annual salary of $225,000.00 (“Base Salary”) (less withholding for applicable
taxes), payable in accordance with the Company’s payroll procedures for its
salaried employees, subject to such increases as may be determined by AMCE’s
Chairman of the Board, President and Chief Executive Officer and, if
applicable, the Compensation Committee of the Board of Directors of AMCE.

 

(b)           Bonus.
 In addition to Base Salary,
Employee shall be eligible to receive an annual bonus (the “Bonus”) as
determined from time to time by AMCE’s Chairman of the Board, President and
Chief Executive Officer and, if applicable, the Compensation Committee of the
Board of Directors of AMCE, based on the Company’s applicable incentive
compensation program, as such may exist from time to time. Employee shall
receive a one-time special bonus of $50,000 if Employee becomes in-house
General Counsel.

 

(c)           Benefits.
 During the Term of Employee’s
employment by the Company under this Agreement, Employee also shall be eligible
for the benefits offered by the Company from time to time to the Company’s
other executive officers (such as group insurance, pension plans, thrift plans,
stock purchase plans and the like). Nothing herein shall be construed so as to
prevent the Company from modifying or terminating any employee benefit plans or
programs it may adopt from time to time.

 

(d)           Automobile.
 During the Term of Employee’s
employment by the Company under this Agreement, the Company shall provide
Employee with a Company owned or leased automobile or an equivalent automobile
allowance.

 

4.                Expense
Reimbursements.  During
the Term of Employee’s employment by the Company under this Agreement, the
Company shall reimburse Employee for business travel and entertainment expenses
reasonably incurred by Employee on behalf of the Company in accordance with the
Company’s procedures, as such may exist from time to time.

 

5.              Termination.  Employee’s employment by the
Company under this Agreement shall be terminated upon the earliest to occur of
the following events:

 

(a)             Resignation.
 Employee’s resignation or
other voluntary departure.

 

(b)             Death.
 The death of Employee.

 

(c)            Disability.
 If, as a result of Employee’s
incapacity due to physical or mental illness, (i) Employee shall not have been
regularly performing his duties and obligations hereunder for a period of one
hundred twenty (120) consecutive days (a “Disability”), (ii) the Company has
given Employee the written Notice of Termination pursuant to Section 6(a)
hereof, and (iii) within thirty (30) days after the Company gives Employee such
written Notice of Termination (which may occur before or after the end of such
120 day period), Employee shall not have returned to the performance of his
duties and obligations hereunder on a regular basis.

 

(d)            Cause.
 Employee is terminated for
Cause. For purposes of this Agreement, “Cause” is defined as (i) the willful  and
continued failure by Employee to perform substantially his duties with the
Company (other than any such failure resulting from his incapacity due to
physical or mental illness), or (ii) the willful engaging by Employee in
misconduct which is materially and demonstrably injurious to the Company. For
purposes of this Agreement, no act, or failure to act, on the part of Employee
shall be considered “willful” unless such act was committed, or such failure to
act occurred, in bad faith and without reasonable belief that Employee’s act or
failure to act was in the best interests of the Company.

 

(e)            Without
Cause.  The employment of
Employee by the Company under this Agreement may be terminated without Cause
with severance at any time by AMCE’s Chairman of the Board, President and Chief
Executive Officer in such officer’s sole discretion. In the event of payment of
severance without Cause, Employee shall receive the severance amount specified
in paragraph 7(c) herein and in such case, Employee will not receive severance
under the AMC Severance Pay Plan.

 

 

2

 

(f)             Change
of Control.  Employee
terminates his employment by the Company hereunder due to the occurrence of any
one or more of the events described in clauses (i), (ii) and (iii) below
subsequent to a Change of Control (as defined below), provided that Employee
has given the Company the written Notice of Termination pursuant to Section 6(a)
hereof within sixty (60) days of the occurrence of any such event:

 

(i)              a substantial adverse alteration
in Employee’s responsibilities from those in effect immediately prior to the
Change of Control;

 

(ii)             a reduction in Employee’s Base
Salary below the rate that is in effect immediately prior to the Change of
Control; or

 

(iii)            a material reduction in the benefits
provided to Employee by the Company prior to the Change of Control.

 

For purposes of this
Agreement a “Change of Control” means (i) a merger, consolidation or similar
transaction involving the Company after which holders of the Company’s stock
before such transaction do not own at least 50% of the combined voting power of
all shares generally entitled to vote in the election of the members of the
Board of Directors of the surviving entity, (ii) the acquisition by any person
or group (other than Apollo or the holders of Class B Stock on the Initial
Issuance Date), so long as neither Apollo nor such holders of Class B Stock is
a part of such group (as such term is defined in Section 13(d) of the
Securities Exchange Act of 1934, as amended, and the regulations promulgated
thereunder), of beneficial ownership of at least 50% of the combined voting
power of all shares generally entitled to vote in the election of the members
of the Board of Directors of the Company, or (iii) the sale of all or
substantially all of the assets of the Company or similar transaction (the
determination of aggregate voting power to recognize that the Company’s Class B
Stock has ten votes per share and the Company’s Common Stock has one vote per
share).

 

“Apollo” means Apollo
Management IV, L.P., Apollo Management V, L.P. and their affiliates.

 

“Class B Stock” means the
Class B Stock, par value $0.66 2/3 per share, of the Company.

 

“Common Stock” means the
Common Stock, par value $0.66 2/3 per share, of the Company.

 

“Initial Issuance Date”
means April 19, 2001, the first date of issuance of the Preferred Stock (as
defined in the Investment Agreement described below, which definition is
incorporated herein by this reference) pursuant to the closing of the
Investment Agreement.

 

 

3

 

“Investment Agreement”
means the Investment Agreement entered in as of April 19, 2001 among the
Company and certain investors named therein.

 

(g)                   Retirement.  The
retirement of the Employee at or after age 65.

 

6.              Termination Procedure.

 

(a)            Notice
of Termination.  Any
termination of the Company’s employment of Employee, either by the Company or
by Employee (other than termination pursuant to Section 5(a) or (b) hereof),
shall be communicated by written Notice of Termination to the other party
hereto in accordance with Section 11. For purposes of this Agreement, a “Notice
of Termination” shall mean a notice which shall indicate the specific
termination provision in this Agreement relied upon and shall, where
applicable, set forth in reasonable detail the facts and circumstances claimed
to provide a basis for termination of Employee under the provisions so indicated.

 

(b)            Date
of Termination.  “Date of
Termination” shall mean (i) if Employee’s employment by the Company is
terminated by Employee’s resignation, retirement or other voluntary departure,
the date of such event, (ii) if Employee’s employment by the Company is
terminated by his death, the date of death, (iii) if Employee’s employment by
the Company is terminated pursuant to Section 5(c) hereof, thirty (30) days
after Notice of Termination is given (provided that Employee shall not have
again become available for service to the Company on a regular basis during
such thirty (30) day period), (iv) if Employee’s employment by the Company is
terminated for Cause, the date specified in the Notice of Termination, and (v)
if Employee’s employment by the Company is terminated for any other reason, the
date on which a Notice of Termination is given.

 

7.              Compensation During Disability or
Upon Termination.

 

(a)           During
Disability.  During any period that Employee fails to
perform his duties under this Agreement as a result of incapacity due to
physical or mental illness (a “disability period”), Employee shall continue to
receive his Base Salary at the rate then in effect for such period until his
employment by the Company is terminated pursuant to Section 5(c) hereof,
provided that payments so made to Employee during the first 180 days of any
such disability period shall be reduced by the sum of the amounts, if any, paid
to Employee at or prior to the time of any such payment under disability
benefit plans of the Company or under the Social Security disability insurance
program, and which amounts were not previously applied to reduce any such
payment. Employee shall also receive a pro rata portion of the Bonus described
in Section 3(b) pursuant to the Company’s applicable incentive compensation
program (the amount of such pro rated Bonus to be determined as though the
target level (or if there is no target level, at 50% of the Base Salary at the
rate then in effect) was attained, multiplied by a fraction, the numerator of
which is the number of

 

 

4

 

completed months in the
then current Bonus program year and the denominator of which is 12), as such
may exist from time to time.

 

(b)              Termination
for Employee Resignation, Cause or Retirement.  If Employee’s employment by the
Company is terminated pursuant to Section 5(a), (d) or (g), the Company shall
pay Employee his accrued but unpaid Base Salary through the Date of Termination
at the rate in effect at the time Notice of Termination is given, and the
Company shall have no further obligations to Employee under this Agreement. If
Employee’s employment by the Company is terminated by Employee’s retirement,
Employee shall also receive a pro rata portion of the Bonus described in Section
3(b) pursuant to the Company’s applicable incentive compensation program (the
amount of such pro rated Bonus to be determined as though the target level (or
if there is no target level, at 50% of the Base Salary at the rate then in
effect) was attained, multiplied by a fraction, the numerator of which is the
number of completed months in the then current Bonus program year and the
denominator of which is 12), as such may exist from time to time.

 

(c)               Termination
for Death, Disability, Without Cause or by Employee due to a Change of Control.
 If Employee’s employment by
the Company is terminated prior to April 1, 2003, pursuant to Section 5(b),
(c), (e) or (f), the Company shall pay to Employee or his personal
representative a lump sum amount equal to six months Base Salary (less
withholding for applicable taxes) of Employee in effect on the Date of
Termination. If Employee’s employment by the Company is terminated after March
31, 2003, pursuant to Section 5(b), (c), (e) or (f), the Company shall pay to Employee
or his personal representative a lump sum amount equal to two years Base Salary
(less withholding for applicable taxes) of Employee in effect on the Date of
Termination.

 

8.              Confidentiality.  Employee acknowledges that
he knows and in the future will know information relating to the Company and
its affiliated companies and their respective operations that is confidential
or a trade secret.  Such information
includes information, whether obtained in writing, in conversation or
otherwise, concerning corporate strategy, intent and plans, business
operations, pricing, costs, budgets, equipment, the status, scope and term of
pending acquisitions, negotiations and transactions, the terms of existing or
proposed business arrangements, contracts and obligations, and corporate and
financial reports.  Such confidential or
trade secret information shall not, however, include information in the public
domain unless Employee has, without authority, made it public.

 

Employee shall (a) not
disclose such information to anyone except in confidence and as is necessary to
the performance of his duties for the Company, (b) keep such information
confidential, (c) take appropriate precautions to maintain the confidentiality
of such information, and (d) not use such information for personal benefit or
the benefit of any competitor or any other person.

 

 

5

 

Upon termination of his
employment by the Company under this Agreement, Employee shall return all
materials in his possession or under his control that were prepared by or
relate to the Company or its affiliates, including, but not limited to,
materials containing confidential information, files, memorandums, price lists,
reports, budgets and handbooks.

 

Employee’s obligation under
this Section 8 shall survive the termination of Employee’s employment by the
Company under this Agreement.

 

9.              Equitable Remedies.  The parties acknowledge that
irreparable damage will result to the Company from any violation of Section 8
above by Employee. The parties expressly agree that, in addition to any and all
remedies available to the Company for any such violation, the Company shall
have the remedy of restraining order and injunction and any such equitable
relief as may be declared or issued to enforce the provisions of Section 8
above and Employee agrees not to claim in any such equitable proceeding that a
remedy at law is available to the Company. Notwithstanding anything contained
herein to the contrary and if, and only if, any provision of the type contained
in Section 8 above, as the case may be, is enforceable in the jurisdiction in
question, if any one or more of the provisions contained in such section shall
for any reason be held to be excessively broad as to duration, geographical scope,
activity or subject, such provision shall be construed by limiting and reducing
it so as to be enforceable to the extent compatible with the applicable law in
such jurisdiction as it shall then appear.

 

10.            Successors: Binding Agreement.

 

(a)             Company
Successors.  The Company will
require any successor (whether direct or indirect, by purchase, merger,
consolidation or otherwise) to all or substantially all the business of the
Company, by agreement in form and substance satisfactory to Employee, to expressly
assume and agree to perform this Agreement in the same manner and to the same
extent that the Company would be required to perform it if no such succession
had taken place.

 

(b)             Employee’s
Successors.  This Agreement
and all rights hereunder shall be binding upon, inure to the benefit of and be
enforceable by Employee’s personal or legal representatives and heirs.

 

 

6

 

11.          Notices.  All notices, requests,
demand or other communications under this Agreement shall be in writing
addressed as follows:

 

	
   

  	
  (a)

  	
  If to the Company, to:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Keith P. Wiedenkeller

  
	
   

  	
   

  	
  AMC Entertainment Inc.

  
	
   

  	
   

  	
  920 Main

  
	
   

  	
   

  	
  Kansas City, MO 64105

  
	
   

  	
   

  	
   

  
	
   

  	
  (b)

  	
  If to Employee, to:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Kevin M. Connor

  
	
   

  	
   

  	
  804 West 65th Street

  
	
   

  	
   

  	
  Kansas City, Missouri 64113

  

 

Any such notice, request, demand or other
communication shall be effective as of the date of actual delivery thereof.
Either party may change such notice address by written notice as provided
herein.

 

12.            Total Compensation.  The compensation to be paid
to Employee under this Agreement shall be in full payment for all services
rendered by Employee in any capacity to the Company or any affiliate of the
Company.

 

13.            Additional Potential Compensation.  Nothing in this Agreement
shall prohibit the Company from awarding additional compensation to Employee if
it is determined that such compensation is warranted based on Employee’s
performance.

 

14.            Other Provisions.  This Agreement shall be governed by
the laws of the State of Missouri. This Agreement represents the entire
agreement of the parties hereto and shall not be amended except by a written
agreement signed by all the parties hereto. This Agreement supersedes any prior
oral or written agreements or understandings between the Company or any
affiliate of the Company and Employee. This Agreement shall not be assignable
by one party without the prior written consent of the other party, except by
the Company if it complies with Section 10 above. In the event one or more of
the provisions contained in this Agreement or any application thereof shall be
invalid, illegal or unenforceable in any respect, the validity, legality and
enforceability of the remaining provisions of this Agreement or any other
application thereof shall not in any way be affected or impaired thereby.
Section headings herein have no legal significance.

 

15.            Arbitration.  Any legal dispute related to
this Agreement and/or any claim related to this Agreement, or breach thereof,
shall, in lieu of being submitted to a court of law, be submitted to
arbitration, in accordance with the applicable dispute resolution procedures of
the American Arbitration Association.  The
award of the arbitrators shall be final and binding upon the parties.

 

 

7

 

The parties hereto agree
that (i) three arbitrators shall be selected pursuant to the rules and
procedures of the American Arbitration Association, (ii) at least one
arbitrator shall be a licensed attorney, (iii) the arbitrators shall have the
power to award injunctive relief or to direct specific performance, (iv) each
of the parties, unless otherwise provided by applicable law and procedures,
shall bear its own attorneys’ fees, costs and expenses and an equal share of
the arbitrators’ and administrative fees of arbitration, and (v) the
arbitrators shall award to the prevailing party a sum equal to that party’s
share of the arbitrators’ and administrative fees of arbitration.

 

Nothing in this section
shall be construed as providing Employee a cause of action, remedy or procedure
that Employee would not otherwise have under this Agreement or the law.
Employee understands that in signing this Agreement he is waiving any right
that he may have to a jury trial or a court trial of any legal dispute or claim
as set forth above.

 

THIS
AGREEMENT CONTAINS A BINDING ARBITRATION PROVISION WHICH MAY BE ENFORCED BY THE
PARTIES.

 

IN WITNESS WHEREOF, the
parties have executed this Employment Agreement effective as of the day and
year first above written.

 

	
   

  	
  AMC /ENTERTAINMENT INC.,

  
	
   

  	
  a Delaware corporation

   

  
	
   

  	
  By:

  	
   /s/ Peter C.
  Brown

  
	
   

  	
   

  	
  Peter C. Brown, Chairman of the Board,

  
	
   

  	
   

  	
  President and Chief Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  AMERICAN MULTI-CINEMA, INC.

  
	
   

  	
  a Missouri corporation

   

  
	
   

  	
  By:

  	
   /s/ Peter C.
  Brown

  
	
   

  	
   

  	
  Peter C. Brown, Chairman of the Board

  
	
   

  	
   

  	
  and Chief Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   /s/ Kevin M.
  Connor

  
	
   

  	
  KEVIN M. CONNOR, EMPLOYEE

  

 

 

8Exhibit
4.2

NATIONAL
SEMICONDUCTOR CORPORATION

$250,000,000

SENIOR FLOATING RATE NOTES
DUE 2010

SUPPLEMENTAL INDENTURE

Dated as of June 18, 2007

To

INDENTURE

Dated as of June 18, 2007

THE BANK OF NEW YORK TRUST
COMPANY, N.A.

Trustee

TABLE OF CONTENTS

	
  

  	
  Page

  
	
   

  	
   

  
	
  Article 1.

  	
   

  
	
  DEFINITIONS AND INCORPORATION

  	
   

  
	
  BY REFERENCE

  	
   

  
	
  Section 1.01

  	
   

  	
  Relationship with Base Indenture.

  	
  1

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 1.02

  	
   

  	
  Definitions.

  	
  2

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 1.03

  	
   

  	
  Other Definitions.

  	
  6

  
	
   

  	
   

  	
   

  	
   

  
	
  Article
  2.

  	
   

  
	
  THE NOTES

  	
   

  
	
  Section 2.01

  	
   

  	
  Form and Dating.

  	
  6

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 2.02

  	
   

  	
  Transfer and Exchange.

  	
  7

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 2.03

  	
   

  	
  Issuance of Additional Notes.

  	
  11

  
	
   

  	
   

  	
   

  	
   

  
	
  Article
  3.

  	
   

  
	
  REDEMPTION AND
  PREPAYMENT

  	
   

  
	
  Section 3.01

  	
   

  	
  Notice of Redemption.

  	
  11

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 3.02

  	
   

  	
  Notes Redeemed in Part.

  	
  11

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 3.03

  	
   

  	
  Optional Redemption.

  	
  11

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 3.04

  	
   

  	
  Mandatory Redemption.

  	
  11

  
	
  Article
  4.

  	
   

  
	
  PARTICULAR
  COVENANTS

  	
   

  
	
  Section 4.01

  	
   

  	
  Liens.

  	
  12

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 4.02

  	
   

  	
  Offer to Purchase Upon Change of Control Triggering
  Event.

  	
  13

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 4.03

  	
   

  	
  Sale and Lease-Back Transactions.

  	
  14

  
	
   

  	
   

  	
   

  	
   

  
	
  Article
  5.

  	
   

  
	
  SUCCESSORS

  	
   

  
	
  Section 5.01

  	
   

  	
  Merger, Consolidation or Sale of Assets.

  	
  14

  
	
   

  	
   

  	
   

  	
   

  
	
  Article
  6.

  	
   

  
	
  DEFAULTS AND
  REMEDIES

  	
   

  
	
  Section 6.01

  	
   

  	
  Events of Default.

  	
  15

  
	
   

  	
   

  	
   

  	
   

  
	
  Article
  7.

  	
   

  
	
  MISCELLANEOUS

  	
   

  
	
  Section 7.01

  	
   

  	
  Trust Indenture Act Controls.

  	
  16

  

 

 i
 

 

	
  

  	
   

  	
   

  	
   

  
	
  Section 7.02

  	
   

  	
  Governing Law.

  	
  16

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 7.03

  	
   

  	
  Successors.

  	
  16

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 7.04

  	
   

  	
  Severability.

  	
  16

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 7.05

  	
   

  	
  Counterpart Originals.

  	
  16

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 7.06

  	
   

  	
  Table of Contents, Headings, Etc.

  	
  16

  

 

EXHIBITS

Exhibit A                FORM
OF NOTE

 ii

SUPPLEMENTAL INDENTURE dated as of June 18, 2007 by
and among National Semiconductor Corporation, a Delaware corporation (the “Company”), and The Bank of New York
Trust Company, N.A., a national banking association, as trustee (the “Trustee”).

The Company has heretofore executed and delivered to
the Trustee an indenture, dated as of June 18, 2007 (the “Base Indenture”, and together with
this Supplemental Indenture, the “Indenture”),
providing for the issuance from time to time of one or more series of the Company’s
securities.

The Company desires and has requested the Trustee
pursuant to Section 9.01 of the Base Indenture to join with it in the execution
and delivery of this Supplemental Indenture in order to supplement the Base
Indenture as, and to the extent set forth herein to provide for the issuance
and the terms of the Notes (as defined below).

Section 9.01 of the Base Indenture provides that the
Company and the Trustee, without the consent of any holders of the Company’s
Securities, may amend or waive certain terms and conditions in the Base
Indenture as permitted by Sections 2.01 and 2.02 thereof.

The execution and delivery of this Supplemental
Indenture has been duly authorized by a resolution of the Board of Directors of
the Company or a duly authorized committee thereof.

All conditions and requirements necessary to make this
Supplemental Indenture a valid, binding and legal instrument in accordance with
its terms have been performed and fulfilled by the parties hereto and the
execution and delivery thereof have been in all respects duly authorized by the
parties hereto.

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

ARTICLE
1.

DEFINITIONS AND INCORPORATION

BY REFERENCE

Section 1.01           Relationship
with Base Indenture.

The terms and provisions contained in the Base
Indenture will constitute, and are hereby expressly made, a part of this
Supplemental Indenture and the Company and the Trustee, by their execution and
delivery of this Supplemental Indenture, expressly agree to such terms and
provisions and to be bound thereby. 
However, to the extent any provision of the Base Indenture conflicts
with the express provisions of this Supplemental Indenture, the provisions of
this Supplemental Indenture will govern and be controlling.

The Trustee accepts the amendment of the Base
Indenture effected by this Supplemental Indenture and agrees to execute the
trust created by the Base Indenture as hereby amended, but only upon the terms
and conditions set forth in this Supplemental Indenture, including the terms
and provisions defining and limiting the liabilities and responsibilities of
the Trustee in the performance of the trust created by the Base Indenture, and
without limiting the generality of the foregoing, the Trustee will not be
responsible in any manner whatsoever for or with respect to any of the recitals
or statements contained herein, all of which recitals or statements are made
solely by the Company, or for or with respect to (1) the validity or
sufficiency of this Supplemental Indenture or any of the terms or provisions
hereof, (2) the proper authorization hereof by the Company, (3) the due
execution hereof by the Company or (4) the

 1
 

consequences (direct or indirect and whether
deliberate or inadvertent) of any amendment herein provided for, and the
Trustee makes no representation with respect to any such matters.

Section 1.02           Definitions.  Capitalized terms used herein without
definition shall have the respective meanings set forth in the Base
Indenture.  The following terms have the
meanings given to them in this Section 1.02:

“Additional Notes”
means any Notes (other than the Initial Notes) issued under this Supplemental
Indenture in accordance with Sections 2.03 hereof, as part of the same series
as the Initial Notes.

“Attributable Debt”
with regard to a Sale and Lease-Back Transaction with respect to any Principal
Property means, at the time of determination, the present value of the total
net amount of rent required to be paid under such lease during the remaining
term thereof (including any period for which such lease has been extended),
discounted at the rate of interest set forth or implicit in the terms of such
lease (or, if not practicable to determine such rate, the weighted average
interest rate per annum borne by the securities then outstanding under the Base
Indenture) compounded semi-annually.  In
the case of any lease which is terminable by the lessee upon the payment of a
penalty, such net amount shall be the lesser of (i) the net amount determined
assuming termination upon the first date such lease may be terminated (in which
case the net amount shall also include the amount of the penalty, but shall not
include any rent that would be required to be paid under such lease subsequent
to the first date upon which it may be so terminated) or (ii) the net amount
determined assuming no such termination.

“Base Indenture”
means has the meaning set forth in the preamble to this Supplemental Indenture,
as amended, supplemented or otherwise modified from time to time in accordance
with the terms thereof.

“Below Investment Grade
Rating Event” means the Notes are rated below an Investment Grade
Rating by each of the Rating Agencies on any date from the date of the public
notice of an arrangement that could result in a Change of Control until the end
of the 60-day period following public notice of the occurrence of the Change of
Control (which 60-day period shall be extended so long as the rating of the
Notes is under publicly announced consideration for possible downgrade by any
of the Rating Agencies).

“Capital Stock”
means:

(1)           with respect to any
Person that is a corporation, any and all shares, interests, participations or
other equivalents (however designated and whether voting or not voting) of
corporate stock, including each class of Common Stock and Preferred Stock of
such Person; and

(2)           with respect to any
Person that is not a corporation, any and all partnership, membership or other
equity interests of such Person.

“Change of Control”
means the occurrence of one or more of the following events:

(1)           any sale, lease,
exchange or other transfer (in one transaction or a series of related
transactions) of all or substantially all of the assets of the Company to any
Person or group of related Persons for purposes of Section 13(d) of the
Exchange Act (a “Group”), together with any
Affiliates thereof (whether or not otherwise in compliance with the provisions
of this Supplemental Indenture);

 2
 

(2)           the approval by the
holders of the Capital Stock of the Company of any plan or proposal for the
liquidation or dissolution of the Company (whether or not otherwise in
compliance with the provisions of this Supplemental Indenture);

(3)           any Person or Group
shall become the owner, directly or indirectly, beneficially or of record, of
shares representing more than 50% of the aggregate ordinary voting power
represented by the issued and outstanding Capital Stock of the Company; or

(4)           the replacement of a
majority of the Board of Directors of the Company over a two-year period from
the directors who constituted the Board of Directors of the Company at the
beginning of such period, and such replacement shall not have been approved by
a vote of at least a majority of the Board of Directors of the Company then
still in office who either were members of such Board of Directors at the
beginning of such period or whose election as a member of such Board of
Directors was previously so approved.

“Change of Control
Triggering Event” means the occurrence of both a Change of Control
and a Below Investment Grade Rating Event.

“Common Stock”
of any Person means any and all shares, interests or other participations in,
and other equivalents (however designated and whether voting or non-voting) of,
such Person’s common stock, and includes, without limitation, all series and
classes of such Common Stock.

“Consolidated Net Tangible
Assets” means, as of any date on which the Company effects a transaction
requiring such Consolidated Net Tangible Assets to be measured hereunder, the
aggregate amount of assets (less applicable reserves) after deducting
therefrom: (a) all current liabilities, except for current maturities of
long-term debt and obligations under capital leases; and (b) intangible assets,
to the extent included in said aggregate amount of assets, all as set forth in
the Company’s most recent consolidated balance sheet and computed in accordance
with GAAP applied on a consistent basis.

“Definitive Note”
means a certificated Note registered in the name of the Holder thereof and
issued in accordance with Section 2.02 hereof, substantially in the form of
Exhibit A hereto except that such Note will not bear the Global Note Legend.

“Depositary”
means, with respect to the Notes issuable or issued in whole or in part in
global form, the Person specified in Section 2.01 hereof as the Depositary with
respect to the Notes, and any and all successors thereto appointed as
depositary hereunder and having become such pursuant to the applicable
provision of this Supplemental Indenture.

“Global Note Legend”
means the legend set forth in Section 2.02(f), which is required to be placed
on all Global Notes issued under this Supplemental Indenture.

“Global Notes”
means, individually and collectively, each of the Global Notes, in the form of Exhibit
A hereto issued in accordance with Section 2.01 hereof.

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

“Indenture”
means the Base Indenture, as supplemented by this Supplemental Indenture,
governing the Notes, in each case, as amended, supplemented or restated from
time to time.

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

 3
 

“Initial Notes”
means the first $250,000,000 aggregate principal amount of Notes issued under
this Supplemental Indenture on the date hereof.

“Investment Grade Rating”
means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s and
BBB- (or the equivalent) by S&P.

“LIBOR” means:

(i)            The rate for deposits in U.S.
dollars for the three-month period which appears on Reuters on page LIBOR 01 at
approximately 11:00 a.m., London time, on the applicable interest determination
date.  If no rate appears on Reuters on
page LIBOR 01, LIBOR for such interest determination date will be determined in
accordance with the provisions of paragraph (ii) below.

(ii)           With respect to an interest
determination date on which no rate appears on Reuters on page LIBOR 01 at
approximately 11:00 a.m., London time, on such interest determination date, the
calculation agent shall request the principal London offices of each of four
major reference banks (which may include affiliates of the underwriters) in the
London interbank market selected by the calculation agent (after consultation
with the Company) to provide the calculation agent with a quotation of the rate
at which deposits of U.S. dollars having a three-month maturity, commencing on
the second London Business Day immediately following such interest
determination date, are offered by it to prime banks in the London interbank
market as of approximately 11:00 a.m., London time, on such interest
determination date in a principal amount equal to an amount of not less than
$1,000,000 that is representative for a single transaction in such market at
such time.  If at least two such
quotations are provided, LIBOR for such interest determination date will be the
arithmetic mean of such quotations as calculated by the calculation agent.  If fewer than two quotations are provided,
LIBOR for such interest determination date will be the arithmetic mean of the
rates quoted at approximately 11:00 a.m., New York City time, on such interest
determination date by three major banks (which may include affiliates of the
underwriters) selected by the calculation agent (after consultation with the
Company) for loans in U.S. dollars to leading European banks having a
three-month maturity commencing on the second London Business Day immediately
following such interest determination date and in a principal amount equal to
an amount of not less than $2,000,000 that is representative for a single
transaction in such market at such time; provided, however, that if the banks
selected as aforesaid by the calculation agent are not quoting such rates as
mentioned in this sentence, LIBOR for such interest determination date will be
LIBOR determined with respect to the immediately preceding interest
determination date

“Lien” means,
with respect to any asset, any mortgage, lien, pledge, charge, security
interest or encumbrance of any kind in respect of such asset, whether or not
filed, recorded or otherwise perfected under applicable law, including any
conditional sale or other title retention agreement or any lease in the nature
thereof; provided that in no event will an
operating lease be deemed to constitute a Lien.

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

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

“Participant”
means, with respect to the Depositary, a Person who has an account with the
Depositary.

 4
 

“Preferred Stock”
of any Person means any Capital Stock of such Person that has preferential
rights to any other Capital Stock of such Person with respect to dividends or
redemptions or upon liquidation.

“Principal Property”
means the land, improvements, buildings, fixtures and equipment (including any
leasehold interest therein) constituting the principal corporate office, any
manufacturing, assembly or test plant, or any manufacturing, assembly, test,
distribution or research facility (in each case, whether now owned or hereafter
acquired) which is owned or leased by the Company or any Subsidiary and is
located within the United States of America, the United Kingdom, Malaysia and
China unless the Company’s chief executive officer or chief financial officer
has determined in good faith that such office, plant or facility is not of
material importance to the total business conducted by the Company and its
Subsidiaries taken as a whole.  With
respect to any Sale and Lease-Back Transaction or series of related Sale and
Lease-Back Transactions, the determination of whether any property is a
Principal Property shall be determined by reference to all properties affected
by such transaction or series of transactions.

“Rating Agencies”
means (1) each of Moody’s and S&P; and (2) of either Moody’s or S&P
ceases to rate the Notes or fails to make a rating of the Notes publicly
available for reasons outside of the Company’s control, a “nationally
recognized statistical rating organization” within the meaning of Rule
15c3-1(e)(2)(vi)(F) under the Exchange Act, selected by the Company (as
certified by a resolution of its Board of Directors) as a replacement agency
for Moody’s or S&P, or both, as the case may be.

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

“Sale and Lease-Back
Transaction” means any arrangement with any Person providing for the
leasing by the Company or any Subsidiary of any Principal Property, whether now
owned or hereafter acquired, which Principal Property has been or is to be sold
or transferred by the Company or such Subsidiary to such Person.

“Subsidiary”
means any corporation, limited liability company or other similar type of
entity in which the Company and/or one or more of its subsidiaries together own
voting stock, membership interests or other capital securities having the power
to elect a majority of the Board of Directors or similar governing body of such
corporation, limited liability company or other similar type of entity,
directly or indirectly.  For the purposes
of this definition, “voting stock”
means stock or other capital securities which ordinarily have voting power for
the election of directors or similar governing body, whether at all times or
only so long as no senior class of stock or other capital securities have such
voting power by reason of any contingency.

“Supplemental Indenture”
means this Supplemental Indenture, dated as of the date hereof, by and among
the Company and the Trustee, governing the Notes, as amended, supplemented or
otherwise modified from time to time in accordance with the Base Indenture and
the terms hereof.

“Treasury Rate”
means, with respect to a date of redemption, the yield to maturity at the time
of the computation of United States Treasury securities with a constant
maturity (as compiled and published in the most recent Federal Reserve
Statistical Release H.15(519) that has become publicly available on the third
Business Day prior to the Company’s providing notice of redemption (or, if such
Statistical Release is no longer published, any publicly available source of
similar market data)) most nearly equal to the period from such date of
redemption to the Stated Maturity of the Notes; provided,
however, that if the period from such
date of redemption to the Stated Maturity is not equal to the constant maturity
of the United States Treasury security for which a weekly average yield is
given, the Treasury Rate shall be obtained by linear interpolation (calculated
to the nearest one-twelfth of a year) from the weekly average 

 5
 

yields of United States Treasury securities for which
such yields are given, except that if the period from such date of redemption
to the Stated Maturity is less than one year, the weekly average yield on
actually traded United States Treasury securities adjusted to a constant
maturity of one year shall be used.

Section 1.03           Other
Definitions.

	
  Term

  	
   

  	
  Defined in

  Section

  
	
  “Change
  of Control Date”

  	
   

  	
  4.02

  
	
  “Change
  of Control Offer”

  	
   

  	
  4.02

  
	
  “Change
  of Control Payment Date”

  	
   

  	
  4.02

  
	
  “Change
  of Control Purchase Date”

  	
   

  	
  4.02

  
	
  “Change
  of Control Purchase Price”

  	
   

  	
  4.02

  
	
  “DTC”

  	
   

  	
  2.01

  
	
  “Event
  of Default”

  	
   

  	
  6.01

  
	
  “Mortgage”

  	
   

  	
  4.01

  
	
  “Redemption
  Date”

  	
   

  	
  3.03

  

 

ARTICLE 2.

THE NOTES

Section 2.01           Form
and Dating.

(a)           General.  The Notes
and the Trustee’s certificate of authentication will be substantially in the
form of Exhibit A hereto.  The
Notes may have notations, legends or endorsements required by law, stock exchange
rule or usage.  Each Note will be dated
the date of its authentication.  The
Notes will be in denominations of $2,000 with integral multiples of $1,000
thereof.

The terms and provisions contained in the Notes will
constitute, and are hereby expressly made, a part of this Supplemental
Indenture and the Company and the Trustee, by their execution and delivery of
this Supplemental Indenture, expressly agree to such terms and provisions and
to be bound thereby.  However, to the
extent any provision of any Note conflicts with the express provisions of the
Indenture, the provisions of the Indenture will govern and be controlling.

(b)           Global Notes.  Notes
issued in global form will be substantially in the form of Exhibit A
attached hereto (including the Global Note Legend thereon).  Notes issued in definitive form will be
substantially in the form of Exhibit A attached hereto (but without the
Global Note Legend thereon).  Each Global
Note will represent such of the outstanding Notes as will be specified therein and
each will provide that it will represent the aggregate principal amount of
outstanding Notes from time to time endorsed thereon and that the aggregate
principal amount of outstanding Notes represented thereby may from time to time
be reduced or increased, as appropriate, to reflect exchanges and
redemptions.  Any endorsement of a Global
Note to reflect the amount of any increase or decrease in the aggregate
principal amount of outstanding Notes represented thereby will be made by the
Trustee or the Custodian, at the direction of the Trustee, in accordance with
instructions given by the Holder thereof as 
required by Section 2.02 hereof. 
The Company initially appoints The Depositary Trust Company (“DTC”) to act as Depositary
with respect to the Global Notes.

 6
 

Section 2.02           Transfer
and Exchange.

(a)           Transfer and Exchange of Global Notes.  A Global Note may not be transferred as a
whole except by the Depositary to a nominee of the Depositary, by a nominee of
the Depositary to the Depositary or to another nominee of the Depositary, or by
the Depositary or any such nominee to a successor Depositary or a nominee of
such successor Depositary. All Global Notes will be exchanged by the Company
for Definitive Notes if:

(1)           the Company delivers to the Trustee
notice from the Depositary that it is unwilling or unable to continue to act as
Depositary or that it is no longer a clearing agency registered under the
Exchange Act and, in either case, a successor Depositary is not appointed by
the Company within 90 days after the date of such notice from the Depositary;
or

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

Upon the occurrence of either of the preceding events
in (1) or (2) above, Definitive Notes will be issued in such names and in any
approved denominations as the Depositary will instruct the Trustee.  Global Notes also may be exchanged or
replaced, in whole or in part, as provided in Sections 2.08 and 2.11 of the
Base Indenture.  Every Note authenticated
and delivered in exchange for, or in lieu of, a Global Note or any portion
thereof, pursuant to this Section 2.02 or Sections 2.08 or 2.11 of the Base
Indenture, will be authenticated and delivered in the form of, and will be, a
Global Note.  A Global Note may not be
exchanged for another Note other than as provided in this Section 2.02(a),
however, beneficial interests in a Global Note may be transferred and exchanged
as provided in Sections 2.02(b), (c) or (g) hereof.

(b)           Transfer and Exchange of Beneficial Interests in the Global Notes.  The transfer and exchange of beneficial
interests in the Global Notes will be effected through the Depositary, in
accordance with the provisions of this Supplemental Indenture and the
Applicable Procedures.  Transfers of
beneficial interests in the Global Notes also will require compliance with
either subparagraph (1) or (2) below, as applicable, as well as one or more of
the other following subparagraphs, as applicable:

(1)           Transfer of Beneficial
Interests in the Same Global Note. 
Beneficial interests in any Global Note may be transferred to Persons
who take delivery thereof in the form of a beneficial interest in a Global Note.  No written orders or instructions will be
required to be delivered to the Registrar to effect the transfers described in
this Section 2.02(b)(1).

(2)           All Other Transfers and
Exchanges of Beneficial Interests in Global Notes.  In connection with all transfers and
exchanges of beneficial interests that are not subject to Section 2.02(b)(1)
above, the transferor of such beneficial interest must deliver to the Registrar
either:

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

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

 7
 

Upon satisfaction of all of the requirements for
transfer or exchange of beneficial interests in Global Notes contained in this
Supplemental Indenture and the Notes or otherwise applicable under the
Securities Act, the Trustee will adjust the principal amount of the relevant
Global Note(s) pursuant to Section 2.02(g) hereof.

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

If any holder of a beneficial interest in a Global
Note proposes to exchange such beneficial interest for a Definitive Note or to
transfer such beneficial interest to a Person who takes delivery thereof in the
form of a Definitive Note, then, upon satisfaction of the conditions set forth
in Section 2.02(b)(2) hereof, the Trustee will cause the aggregate principal
amount of the applicable Global Note to be reduced accordingly pursuant to
Section 2.02(g) hereof, and the Company will execute and the Trustee will
authenticate and deliver to the Person designated in the instructions a
Definitive Note in the appropriate principal amount. Any Definitive Note issued
in exchange for a beneficial interest pursuant to this Section 2.02(c) will be
registered in such name or names and in such authorized denomination or
denominations as the holder of such beneficial interest requests through
instructions to the Registrar from or through the Depositary and the
Participant or Indirect Participant.  The
Trustee will deliver such Definitive Notes to the Persons in whose names such
Notes are so registered.

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

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

If any such exchange or transfer from a Definitive
Note to a beneficial interest is effected pursuant to the previous paragraph at
a time when a Global Note has not yet been issued, the Company will issue and,
upon receipt of the Company’s order, the Trustee will authenticate one or more
Global Notes in an aggregate principal amount equal to the principal amount of
Definitive Notes so transferred.

A Holder of Definitive Notes may transfer such Notes
to a Person who takes delivery thereof in the form of a Definitive Note.

(e)           Transfer and Exchange of Definitive Notes for Definitive Notes.  Upon request by a Holder of Definitive Notes
and such Holder’s compliance with the provisions of this Section 2.02(e), the
Registrar will register the transfer or exchange of Definitive Notes.  Prior to such registration of transfer or
exchange, the requesting Holder will present or surrender to the Registrar the
Definitive Notes duly endorsed or accompanied by a written instruction of
transfer in form satisfactory to the Registrar duly executed by such Holder or
by his attorney, duly authorized in writing. 
In addition, the requesting Holder will provide any additional
certifications, documents and information, as applicable, required pursuant to
the following provisions of this Section 2.02(e).

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

“THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS  DEFINED IN THE SUPPLEMENTAL INDENTURE
GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE  BENEFICIAL OWNERS HEREOF, AND IS 

 8
 

NOT TRANSFERABLE TO ANY  PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT
(I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE  REQUIRED PURSUANT TO SECTION 2.02 OF THE
SUPPLEMENTAL INDENTURE, (II) THIS GLOBAL NOTE MAY BE EXCHANGED  IN WHOLE BUT NOT IN PART PURSUANT TO SECTION
2.02(a) OF THE SUPPLEMENTAL INDENTURE, (III) THIS GLOBAL NOTE MAY BE DELIVERED
TO THE TRUSTEE FOR  CANCELLATION PURSUANT
TO SECTION 2.12 OF THE BASE INDENTURE AND (IV) THIS GLOBAL NOTE MAY BE
TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE
COMPANY.

UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART
FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A
WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE
DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE
DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH
SUCCESSOR DEPOSITARY.  UNLESS THIS
CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”)
TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT,
AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH
OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY
PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF
FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE
REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.”

(g)           Cancellation and/or Adjustment of Global Notes.  At such time as all beneficial interests in a
particular Global Note have been exchanged for Definitive Notes or a particular
Global Note has been redeemed, repurchased or canceled in whole and not in
part, each such Global Note will be returned to or retained and canceled by the
Trustee in accordance with Section 2.12 of the Base Indenture.  At any time prior to such cancellation, if
any beneficial interest in a Global Note is exchanged for or transferred to a
Person who will take delivery thereof in the form of a beneficial interest in
another Global Note or for Definitive Notes, the principal amount of Notes
represented by such Global Note will be reduced accordingly and an endorsement
will be made on such Global Note by the Trustee or by the Depositary at the
direction of the Trustee to reflect such reduction; and if the beneficial interest
is being exchanged for or transferred to a Person who will take delivery
thereof in the form of a beneficial interest in another Global Note, such other
Global Note will be increased accordingly and an endorsement will be made on
such Global Note by the Trustee or by the Depositary at the direction of the
Trustee to reflect such increase.

(h)           General Provisions Relating to Transfers and Exchanges.

(1)           To permit registrations of transfers
and exchanges, the Company will execute and the Trustee will authenticate
Global Notes and Definitive Notes upon the Company’s order or at the Registrar’s
request.

 9
 

(2)           No service charge will be made to a
holder of a beneficial interest in a Global Note or to a Holder of a Definitive
Note for any registration of transfer or exchange, but the Company may require
payment of a sum sufficient to cover any transfer tax or similar governmental
charge payable in connection therewith (other than any such transfer taxes or
similar governmental charge payable upon exchange or transfer pursuant to
Section 4.02 hereof and Sections 2.11, 3.06 and 9.05 of the Base Indenture).

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

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

(5)           The Company will not be required:

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

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

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

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

(7)           The Trustee will authenticate Global
Notes and Definitive Notes in accordance with the provisions of Section 2.03 of
the Base Indenture.

(8)           All certifications, certificates and
Opinions of Counsel required to be submitted to the Registrar pursuant to this
Section 2.02 to effect a registration of transfer or exchange may be submitted
by facsimile.

(9)           The Trustee shall have no obligation
or duty to monitor, determine or inquire as to compliance with any restrictions
on transfer imposed under this Supplemental Indenture or under applicable law
with respect to any transfer of any interest in any Note 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 Supplemental Indenture, and to examine the same to determine
substantial compliance as to form with the express requirements hereof.

 10
 

(10)         Neither the Trustee nor any Agent shall
have any responsibility for any actions taken or not taken by the Depositary.

Section 2.03           Issuance
of Additional Notes.

The Company will be entitled, upon delivery of an Officer’s
Certificate and an Opinion of Counsel, to issue Additional Notes under this
Supplemental Indenture which will have identical terms as the Initial Notes
issued on the date hereof, other than with respect to the date of issuance and
issue price.  The Initial Notes issued on
the date hereof and any Additional Notes issued will be treated as a single
class for all purposes under this Supplemental Indenture.

With respect to any Additional Notes, the Company will
set forth in a resolution of its Board of Directors and an Officer’s
Certificate, a copy of each which will be delivered to the Trustee, the
following information:

(a)           the
aggregate principal amount of such Additional Notes to be authenticated and
delivered pursuant to this Supplemental Indenture; and

(b)           the
issue price, the issue date and the CUSIP number of such Additional Notes.

ARTICLE 3.

REDEMPTION AND PREPAYMENT

Section 3.01           Notice
of Redemption.

The Company will deliver to the Trustee, at least 45
days prior to the redemption date (or such shorter period as the Trustee in its
sole discretion may allow), an Officer’s Certificate requesting that the
Trustee give such notice and setting forth the information to be stated in such
notice as provided in Section 3.01 of the Base Indenture.

Section 3.02           Notes
Redeemed in Part.

No Notes of $2,000 or less can be redeemed in part.

Section 3.03           Optional
Redemption.

The Notes may not be redeemed prior to December 15,
2008.  On or after December 15, 2008, the
Notes may be redeemed or purchased in whole or in part at the Company’s option
at any time prior to the Stated Maturity of the Notes at a price equal to 100%
of the principal amount thereof plus accrued but unpaid interest, if any, to
the date of redemption or purchase (the “Redemption Date”)
(subject to the right of the holders of record on the relevant record date to
receive interest due on the relevant interest payment date).

On and after the Redemption Date, interest will cease
to accrue on the Notes or portions thereof called for redemption as long as the
Company has deposited with the Paying Agent funds in satisfaction of the
applicable redemption price.

Section 3.04           Mandatory
Redemption.

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

 11
 

ARTICLE 4.

PARTICULAR COVENANTS

Section 4.01           Liens.

The Company will not, and will not permit any of its
Subsidiaries to, issue, incur, create, assume or guarantee any debt for
borrowed money (including all obligations evidenced by bonds, debentures, notes
or similar instruments) secured by a mortgage, deed of trust, security
interest, pledge, lien, charge or other encumbrance (collectively, a “Mortgage”) upon any Principal
Property or upon any shares of stock or indebtedness of any Subsidiary that
owns or leases any Principal Property (whether such Principal Property, shares
or indebtedness are now existing or owed or hereafter created or acquired)
without in any such case effectively providing, concurrently with the issuance,
incurrence, creation, assumption or guaranty of any such secured debt, or the
grant of such Mortgage, that the Notes (together with, if the Company shall so
determine, any other indebtedness of or guarantee by the Company or such
Subsidiary ranking equally with the Notes) shall be secured equally and ratably
with (or, at the Company’s option, prior to) such secured debt.  The foregoing restriction, however will not
apply to each of the following: (a) Mortgages on property, shares of stock or
indebtedness or other assets of any Person existing at the time such Person
becomes a Subsidiary, provided that such Mortgages are not incurred in
anticipation of such Person’s becoming a Subsidiary; (b)  Mortgages on property, shares of stock or
indebtedness or other assets existing at the time of acquisition thereof by us
or a Subsidiary, or Mortgages thereon to secure the payment of all or any part
of the purchase price thereof, or Mortgages on property, shares of stock or
indebtedness or other assets to secure any debt incurred prior to, at the time
of, or within 180 days after, the latest of the acquisition thereof or, in the
case of property, the completion of construction, the completion of
improvements or the commencement of substantial commercial operation of such
property for the purpose of financing all or any part of the purchase price
thereof, such construction or the making of such improvements; (c) Mortgages in
favor of the Company or a Subsidiary to secure indebtedness owing to the
Company or to a Subsidiary; (d) Mortgages existing at the date of the initial
issuance of the Notes; (e) Mortgages on property of a Person existing at the
time such Person is merged into or consolidated with the Company or a
Subsidiary or at the time of a sale, lease or other disposition of properties
of such Person as an entirety or substantially as an entirety to the Company or
a Subsidiary, provided that such Mortgage was
not incurred in anticipation of such merger or consolidation or sale, lease or
other disposition; (f) Mortgages in favor of the United States of America or
any state, territory or possession thereof (or the District of Columbia), to
secure partial, progress, advance or other payments pursuant to any contract or
statute or to secure any indebtedness incurred for the purpose of financing all
or any part of the purchase price or the cost of constructing or improving the
property subject to such Mortgages; or (g) extensions, renewals or replacements
of any Mortgage referred to in the foregoing clauses (a), (b), (d), (e) or (f);
provided, however,
that (i) the principal amount of indebtedness secured thereby shall not exceed
the principal amount of indebtedness so secured at the time of such extension,
renewal or replacement and (ii) such extension, renewal or replacement
Mortgages will be limited to all or part of the same property and improvement
thereon which secured the indebtedness so secured at the time of such
extension, renewal or replacement.  Any
Mortgages permitted by any of the foregoing clauses (a) through (g) shall not
extend to or cover any other Principal Property, or any share of stock or
indebtedness of any Subsidiary that owns or leases any Principal Property,
subject to the foregoing limitations, other than the property, including
improvements thereto, stock or indebtedness specified in such clauses.

Notwithstanding the restrictions set forth in the
preceding paragraph, the Company or any Subsidiary may issue, incur, create,
assume or guarantee debt secured by a Mortgage which would otherwise be subject
to such restrictions, without equally and ratably securing the Notes, provided that 

 12
 

after giving effect thereto, the aggregate amount of
all debt so secured by Mortgages (not including Mortgages permitted under
clauses (a) through (g) above) plus the aggregate amount of Attributable Debt
permitted pursuant to Section 4.03 hereof does not exceed 15% of the Company’s
Consolidated Net Tangible Assets.

Section 4.02           Offer
to Purchase Upon Change of Control Triggering Event.

(a)           Upon
the occurrence of a Change of Control Triggering Event (the date of such
occurrence, the “Change of
Control Date”), each Holder shall have the right to require the
Company to purchase such Holder’s Notes in whole or in part at a purchase price
(the “Change of Control Purchase Price”)
equal to 101% of the principal amount of such Notes, plus accrued and unpaid
interest, if any, to the date of purchase (the “Change of Control Purchase Date”), pursuant to and in
accordance with the offer described in this Section 4.02 (the “Change of Control Offer”).

(b)           Within
30 days following the Change of Control Date the Company shall send, by first
class mail, a notice to each Holder, with a copy to the Trustee, which notice
shall govern the terms of the Change of Control Offer.  Such notice shall state:

(i)            that the Change of Control Offer is
being made pursuant to this Section 4.02 and that all Notes validly tendered
will be accepted for payment;

(ii)           the Change of Control Purchase Price
and the Change of Control Purchase Date, which shall be a Business Day that is
no earlier than 30 days nor later than 60 days from the date such notice is
mailed (the “Change of
Control Payment Date”) other than as may be required by law;

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

(iv)          that any Note accepted for payment
pursuant to the Change of Control Offer shall cease to accrue interest after
the Change of Control Payment Date unless the Company shall default in the
payment of the Change of Control Purchase Price of the Notes and the only
remaining right of the Holder is to receive payment of the Change of Control
Purchase Price upon surrender of the Notes to the Paying Agent;

(v)           that Holders electing to have a
portion of a Note purchased pursuant to a Change of Control Offer may only
elect to have such Note purchased in integral multiples of $1,000;

(vi)          that if a Holder elects to have a Note
purchased pursuant to the Change of Control Offer it will be required to
surrender the Note, with the form entitled “Option of Holder to Elect Purchase”
on the reverse of the Note completed, or transfer by book-entry transfer, to
the Paying Agent at the address specified in the notice prior to the close of
business on the third Business Day prior to the Change of Control Payment Date;

(vii)         that a Holder will be entitled to withdraw
its election if the Company receives, not later than the third Business Day
preceding the Change of Control Payment Date, a telegram, telex, facsimile
transmission or letter setting forth the name of such Holder, the principal
amount of Notes such Holder delivered for purchase, and a statement that such
Holder is withdrawing its election to have such Note purchased; and

(viii)        that if Notes are purchased only in part
a new Note of the same type will be issued in principal amount equal to the
unpurchased portion of the Notes surrendered.

 13
 

(c)           On
or before the Change of Control Payment Date, the Company shall, to the extent
lawful, accept for payment, all Notes or portions thereof validly tendered
pursuant to the Change of Control Offer, and shall deliver to the Trustee an
Officer’s Certificate stating that such Notes or portions thereof were accepted
for payment by the Company in accordance with the terms of this Section
4.02.  The Company, the Depositary or the
Paying Agent, as the case may be, shall promptly mail or deliver to each
tendering Holder an amount equal to the purchase price of the Notes tendered by
such Holder and accepted by the Company for purchase, and the Company shall
promptly issue a new Note, and the Trustee, upon written request from the
Company shall authenticate and mail or deliver such new Note to such Holder, in
a principal amount equal to any unpurchased portion of the Note
surrendered.  Any Note not so accepted
shall be promptly mailed or delivered by the Company to the Holder thereof.

(d)           The
Company shall comply with the requirements of Rule 14e-1 under the Exchange Act
and any other securities laws and regulations thereunder to the extent such
laws and regulations are applicable in connection with the repurchase of Notes
pursuant to an offer hereunder.  To the
extent the provisions of any securities laws or regulations conflict with the
provisions under this Section 4.02, the Company shall comply with the
applicable securities laws and regulations and shall not be deemed to have
breached its obligations under this Section 4.02 by virtue thereof.

Section 4.03           Sale
and Lease-Back Transactions.

The Company will not, and will not permit any of its
Subsidiaries to, enter into any Sale and Lease-Back Transaction with respect to
any Principal Property, other than any such Sale and Lease-Back Transaction
involving a lease for a term of not more than three years or any such Sale and
Lease-Back Transaction between the Company and one of its Subsidiaries, or
between Subsidiaries, unless:

(i)            the
Company or such Subsidiary, as applicable, would be entitled to incur
indebtedness secured by a Mortgage on Principal Property involved in such Sale
and Lease-Back Transaction at least equal in amount to the Attributable Debt
with respect to such Sale and Lease-Back Transaction, without equally and
ratably securing the Notes, pursuant to Section 4.01 hereof; or

(ii)           the
proceeds of such Sale and Lease-Back Transaction are at least equal to the fair
market value of the affected Principal Property (as determined in good faith by
the Company’s Board of Directors) and the Company applies an amount equal to
the greater of the net proceeds of such Sale and Lease-Back Transaction or the
Attributable Debt with respect to such Sale and Lease-Back Transaction within
180 days of such Sale and Lease-Back Transaction to either (or a combination
of): (A) the prepayment or retirement (other than any mandatory retirement,
mandatory prepayment or sinking fund payment or by payment at maturity) of debt
for borrowed money of the Company or a Subsidiary (other than debt that is
subordinated to the Notes or debt owed to the Company by a Subsidiary) that
matures more than 12 months after its creation or (B) the purchase,
construction, development, expansion or improvement of other comparable
property.

ARTICLE
5.

SUCCESSORS

Section 5.01           Merger,
Consolidation or Sale of Assets.

The Company shall not merge or consolidate with any
other Person or Persons (whether or not affiliated with the Company) or sell,
convey, transfer, lease or otherwise dispose of all or substantially all of its
property or assets to any other Person or Persons (whether or not affiliated
with the Company), unless:

 14
 

(i)            either:  (a) the transaction is a merger or
consolidation and the Company is the surviving entity; or (b) the successor
Person (or the Person which acquires by sale, conveyance, transfer or lease all
or substantially all of the Company’s property or assets) is a corporation
organized under the laws of the United States, any state thereof or the
District of Columbia and expressly assumes, by a supplemental indenture
satisfactory to the Trustee, all of the Company’s obligations under the Notes
and the Indenture;

(ii)           immediately
after giving effect to the transaction and treating the Company’s obligations
in connection with or as a result of such transaction as having been incurred
as of the time of such transaction, no Event of Default (and no event or
condition which, after notice or lapse of time or both, would become an Event
of Default) shall have occurred and be continuing under the Indenture; and

(iii)          an
Officer’s Certificate is delivered to the Trustee to the effect that both of
the conditions set forth in clauses (i) and (ii) above have been satisfied and
an opinion of counsel has been delivered to the Trustee to the effect that
condition (i) set forth above has been satisfied.

ARTICLE
6.

DEFAULTS AND REMEDIES

Section 6.01           Events
of Default.

The Notes shall not have the benefit of the Events of
Default set forth in the Base Indenture. 
Instead, each of the following is an “Event
of Default” with respect to the Notes:

(a)           the
failure to pay interest on any Notes when the same becomes due and payable and
the default continues for a period of 90 days;

(b)           default
in the payment when due of principal of or premium, if any, on the Notes;

(c)           default
in the performance or breach of any covenant or warranty of the Company in this
Supplemental Indenture, which default continues uncured for a period of 90 days
after written notice given by the Trustee or Holders of such Notes, or the
Company and the Trustee receive written notice from the Holders of not less
than a majority in aggregate principal amount of the Notes outstanding; or

(d)           the
Company:

(i)            commences a voluntary case in
bankruptcy,

(ii)           consents to the entry of an order for
relief against it in an involuntary bankruptcy 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 not paying its debts as
they 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;

 15
 

(ii)           appoints a custodian of the Company
for all or substantially all of the property of the Company; or

(iii)          orders the liquidation of the Company;

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

ARTICLE
7.

MISCELLANEOUS

Section 7.01           Trust
Indenture Act Controls.

If any provision of this Supplemental Indenture
limits, qualifies or conflicts with the duties imposed by TIA Section 318(c),
the imposed duties will control.

Section 7.02           Governing
Law.

THE INTERNAL LAWS OF THE STATE OF NEW YORK WILL GOVERN
AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE AND THE NOTES WITHOUT
GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT
THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.

Section 7.03           Successors.

All agreements of the Company in this Supplemental
Indenture and the Notes will bind its successors.  All agreements of the Trustee in this
Supplemental Indenture will bind its successors.

Section 7.04           Severability.

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

Section 7.05           Counterpart
Originals.

The parties may sign any number of copies of this Supplemental
Indenture.  Each signed copy will be an
original, but all of them together represent the same agreement.

Section 7.06           Table
of Contents, Headings, Etc.

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

[Signatures on
following page]

 16

SIGNATURES

	
  Dated as of June      ,
  2007

  
	
   

  
	
   

  	
  NATIONAL SEMICONDUCTOR CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  THE BANK OF NEW YORK TRUST COMPANY,

  
	
   

  	
  N.A., as Trustee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  

 

 

EXHIBIT
A

(Face of Note)

[Insert the Global Note Legend,
if applicable pursuant to the provisions of the Supplemental Indenture]

CUSIP 637640 AC7

Senior Floating Rate Notes due
2010

	
  No.

  	
  $

  

 

NATIONAL SEMICONDUCTOR
CORPORATION

promises to pay to                                    or
registered assigns, the principal sum of                              Dollars
on June 15, 2010.

Interest Payment Dates:  March 15, June 15, September 15 and December
15

Record Dates: 
March 1, June 1, September 1 and December 1

Dated:

	
  

  	
  NATIONAL SEMICONDUCTOR CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

Date of Authentication:

This is one of the Global

Notes referred to in the

within-mentioned Supplemental Indenture:

Dated:

THE BANK OF NEW YORK TRUST COMPANY, N.A.

as Trustee

	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  

 

 A-1
 

(Back of Note)

Senior Floating Rate Notes due 2010

Capitalized terms used herein have the meanings
assigned to them in the Indenture referred to below unless otherwise indicated.

1.             INTEREST.  National Semiconductor Corporation, a
Delaware corporation (the “Company”),
promises to pay interest on the principal amount of this Note quarterly on
March 15, June 15, September 15 and December 15 of each year, or if any
such day is not a Business Day, on the next succeeding Business Day (each an “Interest Payment Date”), at a rate
per year, reset quarterly (the “interest reset period”)
and the first date in such period, the “interest reset date”),
equal to three-month LIBOR plus 0.25%, to be determined by the calculation
agent.  Interest on the Notes will accrue
from the most recent date to which interest has been paid or, if no interest
has been paid, from June 18, 2007; provided that
if there is no existing Default in the payment of interest, and if this Note is
authenticated between a record date referred to on the face hereof and the next
succeeding Interest Payment Date, interest will accrue from such next
succeeding Interest Payment Date; provided, further,
that the first Interest Payment Date will be September 15, 2007.  The Company will pay interest (including
post-petition interest in any proceeding under any Bankruptcy Law) on overdue
principal at the rate equal to the then applicable interest rate on the Notes
to the extent lawful; it will pay interest (including post-petition interest in
any proceeding under any Bankruptcy Law) on overdue installments of interest at
the same rate to the extent lawful. 
Interest will be computed on the basis of a 360-day year using the
actual number of days elapsed from and including an interest payment date to
but excluding the next succeeding interest payment date.  All dollar amounts resulting from this
calculation will be rounded to the nearest cent.  If any interest payment date on the Notes
other than the maturity date is not a Business Day, such interest payment date
will be postponed to the next succeeding Business Day, except that if such
Business Day falls in the next succeeding calendar month, such interest payment
date will be the immediately preceding Business Day.  If the maturity date of the Notes falls on a
day that is not a Business Day, the required payment of principal and interest
will be made on the next succeeding Business Day as if made on the date such
payment was due, and no interest will accrue on such payment for the period
from and after the maturity date to the date of such payment on the next
succeeding Business Day.

The interest rate on the Notes applicable to each
interest reset period commencing on the related interest reset date, or the
original issue date in the case of the initial reset period, will be the rate
determined as of the applicable interest determination date.  The “interest determination
date” will be the second London business day immediately preceding
the original issue date, in the case of the initial interest reset period, or
thereafter the applicable interest reset date.

The Bank of New York Trust Company, N.A., or its
successor appointed by the Company, will act as calculation agent with respect
to the Notes.  Three-month LIBOR will be
determined by the calculation agent as of the applicable interest determination
date in accordance with the following provisions:

(i)            LIBOR is the rate for deposits in
U.S. dollars for the three-month period which appears on Reuters on page LIBOR
01 at approximately 11:00 a.m., London time, on the applicable interest
determination date.  If no rate appears
on Reuters on page LIBOR 01, LIBOR for such interest determination date will be
determined in accordance with the provisions of paragraph (ii) below.

(ii)           With respect to an interest
determination date on which no rate appears on Reuters on page LIBOR 01 at
approximately 11:00 a.m., London time, on such interest determination date, the
calculation agent shall request the principal London offices of each of 

 A-2
 

four major
reference banks (which may include affiliates of the underwriters) in the
London interbank market selected by the calculation agent (after consultation
with the Company) to provide the calculation agent with a quotation of the rate
at which deposits of U.S. dollars having a three-month maturity, commencing on
the second London Business Day immediately following such interest
determination date, are offered by it to prime banks in the London interbank
market as of approximately 11:00 a.m., London time, on such interest
determination date in a principal amount equal to an amount of not less than
$1,000,000 that is representative for a single transaction in such market at
such time.  If at least two such
quotations are provided, LIBOR for such interest determination date will be the
arithmetic mean of such quotations as calculated by the calculation agent.  If fewer than two quotations are provided,
LIBOR for such interest determination date will be the arithmetic mean of the
rates quoted at approximately 11:00 a.m., New York City time, on such interest
determination date by three major banks (which may include affiliates of the
underwriters) selected by the calculation agent (after consultation with the
Company) for loans in U.S. dollars to leading European banks having a
three-month maturity commencing on the second London Business Day immediately
following such interest determination date and in a principal amount equal to
an amount of not less than $2,000,000 that is representative for a single
transaction in such market at such time; provided, however, that if the banks
selected as aforesaid by the calculation agent are not quoting such rates as
mentioned in this sentence, LIBOR for such interest determination date will be
LIBOR determined with respect to the immediately preceding interest
determination date.

All percentages resulting from any calculation of any
interest rate for the Notes will be rounded, if necessary, to the nearest one
hundred thousandth of a percentage point, with five one-millionths of a
percentage point rounded upward.

Promptly upon such determination, the calculation
agent will notify the Company and the Trustee (if the calculation agent is not
the Trustee) of the interest rate for the new interest reset period.  Upon request of a Holder of Notes, the
calculation agent will provide to such Holder the interest rate in effect on
the date of such request and, if determined, the interest rate for the next
interest reset period.

All calculations made by the calculation agent for the
purposes of calculating interest on the Notes shall be conclusive and binding
on the Holders and the Company, absent manifest error.

2.             METHOD OF PAYMENT.  The Company will pay interest on the Notes
(except defaulted interest) to the Persons who are registered Holders of Notes
at the close of business on the March 1, June 1, September 1 or December 1
next preceding the Interest Payment Date, even if such Notes are canceled after
such record date and on or before such Interest Payment Date, except as
provided in Section 2.13 of the Base Indenture with respect to defaulted
interest.  Principal, premium, if any,
and interest on the Notes will be payable at the office or agency of the Paying
Agent and Registrar within the City and State of New York or, at the option of
the Company, payment of interest may be made by check mailed to the Holders of
the Notes at their respective addresses set forth in the register of Holders of
Notes; provided that all payments of principal,
premium and interest with respect to Notes the Holders of which have given wire
transfer instructions to the Trustee will be required to be made by wire
transfer of immediately available funds to the accounts specified by the
Holders thereof. Such payment will be in such coin or currency of the United
States of America as at the time of payment is legal tender for payment of
public and private debts.

3.             PAYING AGENT AND REGISTRAR.  Initially, The Bank of New York Trust
Company, N.A. the Trustee under the Indenture, will act as Paying Agent and
Registrar.  The Company may change any
Paying Agent or Registrar without notice to any Holder.  The Company or any of its Subsidiaries may
act in any such capacity.

 A-3
 

4.             INDENTURE.  This Note is one of a duly authenticated
series of securities of the Company issued and to be issued in one or more
series under an indenture (the “Base Indenture”),
dated as of June 18, 2007 between the Company and the Trustee, as amended by
the Supplemental Indenture (the “Supplemental Indenture”
and, together with the Base Indenture, the “Indenture”),
dated as of June 18, 2007, between the Company and the Trustee.  The terms of the Notes include those stated
in the Indenture and those made part of the Indenture by reference to the Trust
Indenture Act of 1939, as amended (15 U.S. Code Sections 77aaa-77bbbb).  The Notes are subject to all such terms, and
Holders are referred to the Indenture and such Act for a statement of such
terms.  To the extent any provision of
this Note conflicts with the express provisions of the Indenture, the
provisions of the Indenture will govern and be controlling, and to the extent
any provision of the Base Indenture conflicts with the express provisions of
the Supplemental Indenture, the provisions of the Supplemental Indenture will
govern and be controlling.  The Company
will be entitled to issue Additional Notes pursuant to Section 2.03 of the
Supplemental Indenture.

5.             OPTIONAL REDEMPTION.

The Notes may not be redeemed prior to December 15,
2008.  On or after December 15, 2008, the
Notes may be redeemed or purchased in whole or in part at the Company’s option
at any time prior to the Stated Maturity of the Notes at a price equal to 100%
of the principal amount thereof plus accrued but unpaid interest, if any, to
the date of redemption or purchase (the “Redemption Date”)
(subject to the right of the holders of record on the relevant record date to
receive interest due on the relevant interest payment date).

On and after the Redemption Date, interest will cease
to accrue on the Notes or portions thereof called for redemption as long as the
Company has deposited with the Paying Agent funds in satisfaction of the
applicable redemption price.

6.             MANDATORY REDEMPTION.  Except as set forth in paragraph 7, the
Company shall not be required to make mandatory redemption payments with
respect to the Notes.

7.             REPURCHASE AT OPTION OF HOLDER.

Upon the occurrence of a Change of Control Triggering
Event, the Company will be required to offer to purchase all of the outstanding
Notes at a purchase price equal to 101% of the principal amount thereof, plus
accrued and unpaid interest, if any, to the date of purchase.

8.             NOTICE OF REDEMPTION.  Notice of redemption will be mailed at least
30 days but not more than 60 days before the redemption date to each Holder
whose Notes are to be redeemed at its registered address.  Notes in denominations larger than $2,000 may
be redeemed in part but only in whole multiples of $1,000, unless all of the
Notes held by a Holder are to be redeemed. 
On and after the redemption date interest ceases to accrue on Notes or
portions thereof called for redemption.

9.             DENOMINATIONS, TRANSFER,
EXCHANGE.  The Notes are in
registered form without coupons in denominations of $2,000 and integral
multiples of $1,000.  Notes may be
transferred or exchanged as provided in the Supplemental Indenture.  The Registrar and the Trustee may require a
Holder, among other things, to furnish appropriate endorsements and transfer
documents and the Company may require a Holder to pay any taxes and fees
required by law or permitted by the Supplemental Indenture.  The Company need not exchange or transfer any
Note or portion of a Note selected for redemption, except for the unredeemed
portion of any Note being redeemed in part. 
Also, the Company need not exchange or register the transfer of any
Notes for a period of 15 days before a 

 A-4
 

selection of Notes to be
redeemed or during the period between a record date and the corresponding
Interest Payment Date.

10.           PERSONS DEEMED OWNERS.  The registered Holder of a Note may be
treated as its owner for all purposes.

11.           AMENDMENT, SUPPLEMENT AND
WAIVER.  The Base Indenture
may be amended as provided therein. 
Subject to certain exceptions, the Supplemental Indenture or the Notes
may be amended or supplemented with the consent of the Holders of at least a
majority in principal amount of the Notes then outstanding, including, without
limitation, consents obtained in connection with a purchase of, or tender offer
or exchange offer for, Notes, voting as a single class, and any existing
default or compliance with any provision of the Indenture or the Notes may be
waived with the consent of the Holders of a majority in principal amount of the
then outstanding Notes, including, without limitation, consents obtained in
connection with a purchase of, or tender offer or exchange offer for, Notes,
voting as a single class.  Without the
consent of any Holder of a Note, the Supplemental Indenture or the Notes may be
amended or supplemented (i) to cure any ambiguity, defect or inconsistency;
(ii) to provide for uncertificated Notes in addition to or in place of
certificated Notes; (iii) to provide for the assumption of the Company’s
obligations to Holders of the Notes in case of a merger or consolidation or
sale of all or substantially all of the Company’s assets;  (iv) to make any change that would provide
any additional rights or benefits to the Holders of the Notes or that does not
adversely affect the legal rights under the Supplemental Indenture of any such
Holder; (v) to comply with the requirements of the SEC in order to effect or
maintain the qualification of the Supplemental Indenture under the Trust
Indenture Act; (vi) to provide for the issuance of Additional Notes in
accordance with the Supplemental Indenture; or (vii) to evidence and provide
for the acceptance of appointment by a successor trustee.

12.           DEFAULTS AND REMEDIES.  An “EVENT OF DEFAULT” occurs if:  (i) default for a period of 90 days in the
payment when due of interest on the Notes; (ii) default in the payment when due
of principal of or premium, if any, on the Notes; (iii) the Company fails for
90 days after notice to the Company to comply with any covenant or warranty of
the Company in the Indenture; or (iv) certain events of bankruptcy or
insolvency occur with respect to the Company.

If any Event of Default occurs and is continuing, the
Trustee or the Holders of at least 25% in principal amount of the then
outstanding Notes may declare all the Notes to be due and payable.  Notwithstanding the foregoing, in the case of
an Event of Default arising from certain events of bankruptcy or insolvency
with respect to the Company, all outstanding Notes will become due and payable
without further action or notice. 
Holders may not enforce the Indenture or the Notes except as provided in
the Indenture.  Subject to certain
limitations, Holders of a majority in principal amount of the then outstanding
Notes may direct the Trustee in its exercise of any trust or power.  The Trustee may withhold from Holders of the
Notes notice of any continuing Default or Event of Default if it determines
that withholding notice is in their interest, except a Default or Event of
Default relating to the payment of principal or interest.  The Holders of a majority in aggregate
principal amount of the Notes then outstanding by notice to the Trustee may on
behalf of the Holders of all of the Notes waive any existing Default or Event
of Default and its consequences under the Indenture except a continuing Default
or Event of Default in the payment of interest on, or the principal of, the
Notes.  The Company is required to
deliver to the Trustee annually a statement regarding compliance with the
Indenture, and the Company is required upon becoming aware of any Default or
Event of Default, to deliver to the Trustee a statement specifying such Default
or Event of Default.

13.           TRUSTEE DEALINGS WITH
COMPANY.  The Trustee, in its
individual or any other capacity, may make loans to, accept deposits from, and
perform services for the Company or its Affiliates, and may otherwise deal with
the Company or its Affiliates, as if it were not the Trustee.

 A-5
 

14.           NO RECOURSE AGAINST OTHERS.  A director, officer, employee, incorporator
or stockholder, of the Company, as such, will not have any liability for any
obligations of the Company under the Notes or the Indenture or for any claim
based on, in respect of, or by reason of, such obligations or their
creation.  Each Holder of Notes by
accepting a Note waives and releases all such liability.  The waiver and release are part of the
consideration for the issuance of the Notes.

15.           AUTHENTICATION.  This Note will not be valid until
authenticated by the manual signature of the Trustee or an authenticating
agent.

16.           ABBREVIATIONS.  Customary abbreviations may be used in the
name of a Holder or an assignee, such as: 
TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT
TEN (= joint tenants with right of survivorship and not as tenants in common),
CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act).

17.           CUSIP NUMBERS.  Pursuant to a recommendation promulgated by
the Committee on Uniform Security Identification Procedures, the Company has
caused CUSIP numbers to be printed on the Notes and the Trustee may use CUSIP
numbers in notices of redemption as a convenience to Holders.  No representation is made as to the accuracy
of such numbers either as printed on the Notes or as contained in any notice of
redemption and reliance may be placed only on the other identification numbers
placed thereon.  The Company will furnish
to any Holder upon written request and without charge a copy of the Base
Indenture and the Supplemental Indenture. 
Requests may be made to:

National
Semiconductor Corporation

3689 Kifer Road

P.O.
Box 58090

Mail
Stop G3-135

Santa Clara, California 95052-8090

Fascimile No.:  (408) 733-0293

Attention:  General Counsel

 A-6
 

ASSIGNMENT FORM

To assign this Note, fill in the form below:

(I) or (we) assign and
transfer this Note to:

(Insert assignee’s legal
name)

	
  (Insert assignee’s soc. sec.
  or tax I.D. no.)

  
	
   

  
	
   

  
	
   

  
	
   

  

 

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

and irrevocably appoint                                                                                                                                                 to
transfer this Note on the books of the Company. 
The agent may substitute another to act for him.

	
  Date:

  	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Your Signature:

  	
   

  	
   

  
	
   

  	
   

  	
  (sign exactly as your name appears

  on the face of this senior note)

  
	
   

  	
   

  
	
   

  	
  Tax Identification No:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Signature Guarantee:

  	
   

  	
   

  
										

 

Signatures must be guaranteed by an “eligible
guarantor institution” meeting the requirements of the Registrar, which
requirements include membership or participation in the Security Transfer Agent
Medallion Program (“STAMP”) or such other “signature
guarantee program” as may be determined by the Registrar in addition to, or in
substitution for, STAMP, all in accordance with the Securities Exchange Act of
1934, as amended.

 A-7

Option of Holder to Elect
Purchase

If you want to elect to have this Note purchased by
the Company pursuant to Section 4.02 of the Supplemental Indenture, check the
box below:

o        Section 4.02

If you want to elect to have only part of the Note
purchased by the Company pursuant to Section 4.02 of the Supplemental
Indenture, state the amount you elect to have purchased:  $

	
  Date:

  	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Your Signature:

  	
   

  	
   

  
	
   

  	
   

  	
  (sign exactly as your name appears

  on the face of this senior note)

  
	
   

  	
   

  
	
   

  	
  Tax Identification No:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Signature Guarantee:

  	
   

  	
   

  
										

 

Signatures must be guaranteed by an “eligible
guarantor institution” meeting the requirements of the Registrar, which
requirements include membership or participation in the Security Transfer Agent
Medallion Program (“STAMP”) or such other “signature
guarantee program” as may be determined by the Registrar in addition to, or in
substitution for, STAMP, all in accordance with the Securities Exchange Act of
1934, as amended.

 C-1

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