Document:

exv10w01

 

Exhibit 10.01

 

RELIANCE STEEL & ALUMINUM CO.,

as Issuer

the Subsidiary Guarantors from time to time parties hereto,

and

WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Trustee

6.200% Senior Notes due 2016

6.850% Senior Notes due 2036

 

INDENTURE

Dated as of November 20, 2006

 

 

 

CROSS-REFERENCE TABLE

Certain Sections of this Indenture relating to Sections 310 through

318, inclusive, of the Trust Indenture Act of 1939:

	 	 	 	 
	Trust Indenture Act	 	 	Indenture
	Section	 	 	Section
	310(a)(1)
	 	 	7.9; 7.10
	  (a)(2)
	 	 	7.10
	  (a)(3)
	 	 	N.A.
	  (a)(4)
	 	 	N.A.
	  (b)
	 	 	7.8; 7.10
	  (c)
	 	 	N.A.
	311(a)
	 	 	7.11
	  (b)
	 	 	7.11
	  (c)
	 	 	N.A.
	312(a)
	 	 	2.5
	  (b)
	 	 	11.3
	  (c)
	 	 	11.3
	313(a)
	 	 	7.6
	  (b)(1)
	 	 	N.A.
	  (b)(2)
	 	 	7.6
	  (c)
	 	 	7.6
	  (d)
	 	 	7.6
	314(a)
	 	 	4.5; 4.8; 10.2
	  (b)
	 	 	N.A.
	  (c)(1)
	 	 	11.4
	  (c)(2)
	 	 	11.4
	  (c)(3)
	 	 	N.A.
	  (d)
	 	 	N.A.
	  (e)
	 	 	11.5
	  (f)
	 	 	4.5
	315(a)
	 	 	7.1
	  (b)
	 	 	7.5
	  (c)
	 	 	7.1
	  (d)
	 	 	7.1
	  (e)
	 	 	6.11
	316(a)(last sentence)
	 	 	11.6
	  (a)(1)(A)
	 	 	6.5
	  (a)(1)(B)
	 	 	6.4
	  (a)(2)
	 	 	N.A.
	  (b)
	 	 	6.7
	317(a)(1)
	 	 	6.8
	  (a)(2)
	 	 	6.9
	  (b)
	 	 	2.4
	318(a)
	 	 	11.1
	 	
N.A. means Not Applicable.
	 	 

 

			
	Note:	 	This Cross-Reference Table shall not, for any purpose, be deemed to be part of this
Indenture.

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	ARTICLE I Definitions and Incorporation by Reference
	 	 	1	 
	 
	 	 	 	 
	SECTION 1.1.   Definitions
	 	 	1	 
	SECTION 1.2.   Other Definitions
	 	 	9	 
	SECTION 1.3.   Incorporation by Reference of Trust Indenture Act
	 	 	9	 
	SECTION 1.4.   Rules of Construction
	 	 	10	 
	 
	 	 	 	 
	ARTICLE II The Notes
	 	 	11	 
	 
	 	 	 	 
	SECTION 2.1.   Form and Dating
	 	 	11	 
	SECTION 2.2.   Execution and Authentication
	 	 	16	 
	SECTION 2.3.   Registrar and Paying Agent
	 	 	17	 
	SECTION 2.4.   Paying Agent To Hold Money in Trust
	 	 	18	 
	SECTION 2.5.   Noteholder Lists
	 	 	18	 
	SECTION 2.6.   Transfer and Exchange
	 	 	18	 
	SECTION 2.7.   Form of Certificates to be Delivered in Connection with
Transfers Pursuant to Regulation S and Rule 144A
	 	 	23	 
	SECTION 2.8.   Business Days
	 	 	23	 
	SECTION 2.9.   Replacement Notes
	 	 	23	 
	SECTION 2.10. Outstanding Notes
	 	 	23	 
	SECTION 2.11. Temporary Notes
	 	 	23	 
	SECTION 2.12. Cancellation
	 	 	24	 
	SECTION 2.13. Defaulted Interest
	 	 	24	 
	SECTION 2.14. CUSIP Numbers, etc
	 	 	24	 
	SECTION 2.15. Issuance of Additional Notes
	 	 	25	 
	SECTION 2.16. One Class of Notes
	 	 	25	 
	 
	 	 	 	 
	ARTICLE III Redemption; Repayment at Option of Holders
	 	 	25	 
	 
	 	 	 	 
	SECTION 3.1.   Notices to Trustee
	 	 	25	 
	SECTION 3.2.   Selection of Notes to be Redeemed
	 	 	26	 
	SECTION 3.3.   Notice of Redemption
	 	 	26	 
	SECTION 3.4.   Effect of Notice of Redemption
	 	 	27	 
	SECTION 3.5.   Deposit of Redemption Price
	 	 	27	 
	SECTION 3.6.   Notes Redeemed in Part
	 	 	27	 
	SECTION 3.7.   Optional Redemption
	 	 	27	 
	 
	 	 	 	 
	ARTICLE IV Covenants
	 	 	28	 
	 
	 	 	 	 
	SECTION 4.1.   Payment of Notes
	 	 	28	 
	SECTION 4.2.   Limitations on Liens
	 	 	28	 
	SECTION 4.3.   Limitation on Sale and Leaseback Transactions
	 	 	30	 
	SECTION 4.4.   Change of Control Repurchase Event
	 	 	31	 
	SECTION 4.5.   Compliance Certificate
	 	 	32	 
	SECTION 4.6.   Maintenance of Office or Agency
	 	 	32	 

 

	 	 	 	 	 
	 	 	Page	 
	SECTION 4.7.   Existence
	 	 	33	 
	SECTION 4.8.   SEC Reports
	 	 	33	 
	 
	 	 	 	 
	ARTICLE V Consolidation, Merger and Sale of Assets
	 	 	33	 
	 
	 	 	 	 
	SECTION 5.1.   When the Company or a Subsidiary Guarantor May Merge or Transfer Assets
	 	 	33	 
	SECTION 5.2.   Successor Person Substituted
	 	 	34	 
	 
	 	 	 	 
	ARTICLE VI Defaults and Remedies
	 	 	34	 
	 
	 	 	 	 
	SECTION 6.1.   Events of Default
	 	 	34	 
	SECTION 6.2.   Acceleration
	 	 	36	 
	SECTION 6.3.   Other Remedies
	 	 	36	 
	SECTION 6.4.   Waiver of Past Defaults
	 	 	37	 
	SECTION 6.5.   Control by Majority
	 	 	37	 
	SECTION 6.6.   Limitation on Suits
	 	 	37	 
	SECTION 6.7.   Rights of Holders to Receive Payment
	 	 	38	 
	SECTION 6.8.   Collection Suit by Trustee
	 	 	38	 
	SECTION 6.9.   Trustee May File Proofs of Claim
	 	 	38	 
	SECTION 6.10. Priorities
	 	 	38	 
	SECTION 6.11. Undertaking for Costs
	 	 	39	 
	SECTION 6.12. Waiver of Stay or Extension Laws
	 	 	39	 
	 
	 	 	 	 
	ARTICLE VII Trustee
	 	 	39	 
	 
	 	 	 	 
	SECTION 7.1.   Duties of Trustee
	 	 	39	 
	SECTION 7.2.   Rights of Trustee
	 	 	40	 
	SECTION 7.3.   Individual Rights of Trustee
	 	 	42	 
	SECTION 7.4.   Trustee’s Disclaimer
	 	 	42	 
	SECTION 7.5.   Notice of Defaults
	 	 	42	 
	SECTION 7.6.   Reports by Trustee to Holders
	 	 	42	 
	SECTION 7.7.   Compensation and Indemnity
	 	 	42	 
	SECTION 7.8.   Replacement of Trustee
	 	 	43	 
	SECTION 7.9.   Successor Trustee by Merger
	 	 	44	 
	SECTION 7.10.  Eligibility; Disqualification
	 	 	45	 
	SECTION
7.11. Preferential Collection of Claims Against the Company
	 	 	45	 
	 
	 	 	 	 
	ARTICLE VIII Discharge of Indenture; Defeasance
	 	 	45	 
	 
	 	 	 	 
	SECTION 8.1.   Discharge of Liability on Notes; Defeasance
	 	 	45	 
	SECTION 8.2.   Conditions to Defeasance
	 	 	46	 
	SECTION 8.3.   Application of Trust Money
	 	 	47	 
	SECTION 8.4.   Repayment to the Company
	 	 	47	 
	SECTION 8.5.   Indemnity for Government Obligations
	 	 	47	 
	SECTION 8.6.   Reinstatement
	 	 	48	 

-ii-

 

	 	 	 	 	 
	 	 	Page	 
	ARTICLE IX Amendments
	 	 	48	 
	 
	 	 	 	 
	SECTION 9.1.     Without Consent of Holders
	 	 	48	 
	SECTION 9.2.     With Consent of Holders
	 	 	49	 
	SECTION 9.3.     Compliance with Trust Indenture Act
	 	 	50	 
	SECTION 9.4.     Effect of Consents and Waivers
	 	 	50	 
	SECTION 9.5.     Notation on or Exchange of Notes
	 	 	51	 
	SECTION 9.6.     Trustee To Sign Amendments
	 	 	51	 
	 
	 	 	 	 
	ARTICLE X Guarantees
	 	 	51	 
	 
	 	 	 	 
	SECTION 10.1.   Guarantees
	 	 	51	 
	SECTION 10.2.   No Subrogation
	 	 	53	 
	SECTION 10.3.   Consideration
	 	 	53	 
	SECTION 10.4.   Limitation on Subsidiary Guarantor Liability
	 	 	53	 
	SECTION 10.5.   Execution and Delivery
	 	 	53	 
	SECTION 10.6.   Release of Subsidiary Guarantors
	 	 	54	 
	SECTION 10.7.   Future Subsidiary Guarantors
	 	 	54	 
	 
	 	 	 	 
	ARTICLE XI Miscellaneous
	 	 	55	 
	 
	 	 	 	 
	SECTION 11.1.   Trust Indenture Act Controls
	 	 	55	 
	SECTION 11.2.   Notices
	 	 	55	 
	SECTION 11.3.   Communication by Holders with other Holders
	 	 	55	 
	SECTION 11.4.   Certificate and Opinion as to Conditions Precedent
	 	 	56	 
	SECTION 11.5.   Statements Required in Certificate or Opinion
	 	 	56	 
	SECTION 11.6.   When Notes Disregarded
	 	 	56	 
	SECTION 11.7.   Rules by Trustee, Paying Agent and Registrar
	 	 	56	 
	SECTION 11.8.   Governing Law
	 	 	57	 
	SECTION 11.9.   No Recourse Against Others
	 	 	57	 
	SECTION 11.10. Successors
	 	 	57	 
	SECTION 11.11. Multiple Originals
	 	 	57	 
	SECTION 11.12. Variable Provisions
	 	 	57	 
	SECTION 11.13. Qualification of Indenture
	 	 	57	 
	SECTION 11.14. Table of Contents; Headings
	 	 	57	 
	SECTION 11.15. Waiver of Jury Trial
	 	 	57	 
	SECTION 11.16. Force Majeure
	 	 	57	 

-iii-

 

Exhibit A — Form of 2016 Note

Exhibit B — Form of 2036 Note

Exhibit C — Form of Exchange Note for the 2016 Note

Exhibit D — Form of Exchange Note for the 2036 Note

Exhibit E — Form of Certificate (transfers pursuant to Regulation S) for the 2016 Note

Exhibit F — Form of Certificate (transfers pursuant to Regulation S) for the 2036 Note

Exhibit G — Form of Certificate (transfers pursuant to Rule 144A) for the 2016 Note

Exhibit H — Form of Certificate (transfers pursuant to Rule 144A) for the 2036 Note

Exhibit I — Form of Incumbency Certificate

-iv-

 

          INDENTURE, dated as of November 20, 2006, among RELIANCE STEEL & ALUMINUM CO., a California
corporation (the “Company”), the Subsidiary Guarantors from time to time parties hereto and
WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association, as Trustee (the
“Trustee”).

          Each party agrees as follows for the benefit of the other party and for the equal and ratable
benefit of Holders of the Company’s 6.200% Senior Notes due 2016 (the “2016 Notes”) and
6.850% Senior Notes due 2036 (the “2036 Notes” and, together with the 2016 Notes, the
“Initial Notes”) and, if and when issued in exchange for Initial Notes as provided in the
Registration Rights Agreement, the Company’s 6.200% Senior Notes due 2016 and 6.850% Senior Notes
due 2036 (together, the “Exchange Notes” and, together with the Initial Notes of each
series and any Additional Notes, the “Notes”):

ARTICLE I

Definitions and Incorporation by Reference

          SECTION 1.1.   Definitions.

          “Additional Interest” shall mean the Additional Interest then owing pursuant to the
Registration Rights Agreement.

          “Additional Notes” means 6.200% Senior Notes due 2016 and 6.850% Senior Notes due 2036
issued from time to time after the Issue Date under the terms of this Indenture (other than
pursuant to Sections 2.6, 2.9, 2.11, 3.6 and 9.5 of this Indenture, in the case of Notes of any
series that are not already Additional Notes of such series, and other than Exchange Notes of any
series issued pursuant to an exchange offer for the other Notes outstanding under this Indenture).

          “Attributable Debt” means, with respect to any sale and leaseback transaction, at the
time of determination, the lesser of (1) the sale price of the property so leased multiplied by a
fraction the numerator of which is the remaining portion of the base term of the lease included in
such transaction and the denominator of which is the base term of such lease, and (2) the total
obligation (discounted to the present value at the implicit interest factor, determined in
accordance with GAAP, included in the rental payments) of the lessee for rental payments (other
than amounts required to be paid on account of property taxes as well as maintenance, repairs,
insurance, water rates and other items which do not constitute payments for property rights) during
the remaining portion of the base term of the lease included in such transaction.

          “Board of Directors” or “Board” means, with respect to any Person, the Board
of Directors of such Person, any management committee of such Person or any committee thereof duly
authorized to act on behalf of such Board of Directors or such management committee.

          “Business Day” means any day other than a Saturday, a Sunday or a day on which banking
institutions or trust companies in New York City are authorized or required by law, regulation or
executive order to close.

 

          “Capital Stock” means, with respect to any Person, any and all shares, interests,
rights to purchase, warrants, options, participations or other equivalents of or interests in
(however designated) equity of such Person, including any preferred stock, partnership interests
and limited liability company membership interests, but excluding any debt securities convertible
into such equity.

          “Change of Control” means the occurrence of any of the following: (1) the direct or
indirect sale, transfer, conveyance or other disposition (other than by way of merger or
consolidation), in one or a series of related transactions, of all or substantially all of the
properties or assets of the Company and its Subsidiaries taken as a whole to any “person” (as that
term is used in Section 13(d)(3) of the Exchange Act) other than the Company or one of its
Subsidiaries; (2) the adoption of a plan relating to the Company’s liquidation or dissolution; or
(3) the consummation of any transaction (including, without limitation, any merger or
consolidation) the result of which is that any Person becomes the beneficial owner, directly or
indirectly, of more than 50% of the then outstanding number of shares of Voting Stock of the
Company.

          “Change of Control Repurchase Event” means the occurrence of both a Change of Control
and a Ratings Event.

          “Clearstream” means Clearstream Banking, société anonyme, and any successor thereto.

          “Code” means the U.S. Internal Revenue Code of 1986, as amended.

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

          “Comparable Treasury Issue” means the United States Treasury security selected by an
Independent Investment Banker as having an actual or interpolated maturity comparable to the
remaining term of the Notes to be redeemed that would be utilized, at the time of selection and in
accordance with customary financial practice, in pricing new issues of corporate debt securities of
comparable maturity to the remaining term of such Notes.

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

          “Consolidated Net Tangible Assets” means, as of the time of determination, the
aggregate amount of the assets of the Company and its consolidated Subsidiaries after deducting (1)
all goodwill, trade names, trademarks, service marks, patents, unamortized debt discount and
expense and other intangible assets and (2) all current liabilities, as reflected on the Company’s
most recent consolidated balance sheet prepared by the Company in accordance with GAAP contained in
an annual report on Form 10-K or a quarterly report on Form 10-Q timely filed or

2

 

any amendment thereto (and not subsequently disclaimed as being unreliable by the Company)
pursuant to the Exchange Act by the Company prior to the time as of which Consolidated Net Tangible
Assets is being determined.

          “Corporate Trust Office” means the office of the Trustee at which, at any particular
time, this Indenture shall be principally administered; which office at the date of the execution
of this Indenture is located at 707 Wilshire Blvd, 17th Floor, Los Angeles, CA 90017,
Attention: Madeliena Hall or at any other time at such other address as the Trustee may
designate from time to time by notice to the Holders.

          “Credit Agreement” means the Credit Agreement, dated as of November 9, 2006, among the
Company, RSAC Management Corp., the lenders party thereto and Bank of America N.A., as
administrative agent, as the same may be amended, supplemented or otherwise modified from time to
time, and any successor credit agreement thereto (whether by renewal, replacement, refinancing or
otherwise) that the Company in good faith designates to be its principal credit agreement (taking
into account the maximum principal amount of the credit facility provided thereunder, the recourse
nature of the agreement and such other factors as the Company deems reasonable in light of the
circumstances), such designation (or the designation that at a given time there is no principal
credit agreement) to be made by an Officers’ Certificate delivered to the Trustee.

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

          “Domestic Subsidiary” means a Subsidiary other than a Foreign Subsidiary.

          “DTC” means The Depository Trust Company, its nominees and their respective successors
and assigns.

          “Euroclear” means the Euroclear Bank S.A./N.V. and any successor thereto.

          “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules
and regulations promulgated by the SEC thereunder.

          “Foreign Subsidiary” means any Subsidiary that is not organized under the laws of the
United States of America or any state thereof or the District of Columbia and any Subsidiary of
such Subsidiary.

          “GAAP” means generally accepted accounting principles in the United States of America
in effect from time to time.

          “guarantee” means any obligation, contingent or otherwise, of any Person directly or
indirectly guaranteeing any Indebtedness of any other Person and any obligation, direct or
indirect, contingent or otherwise, of such Person (1) to purchase or pay (or advance or supply
funds for the purchase or payment of) such Indebtedness of such other Person (whether arising by
virtue of partnership arrangements, or by agreements to keep well, to purchase assets, goods,
securities or services, to take or pay or to maintain financial statement conditions or otherwise)
or (2) entered into for purposes of assuring in any other manner the obligee of such Indebtedness
of the payment thereof or to protect such obligee against loss in respect thereof (in whole or in

3

 

part); provided, however, that the term “guarantee” will not include
endorsements for collection or deposit in the ordinary course of business. The term “guarantee”,
when used as a verb, has a correlative meaning.

          “Guarantee” means the guarantee by any Subsidiary Guarantor of the Company’s
Obligations under this Indenture and the Notes.

          “Holder” or “Noteholder” means the Person in whose name a note is registered
on the security register books.

          “incur” means issue, assume, guarantee or otherwise become liable for.

          “Indebtedness” means, with respect to any Person, obligations (other than Non-recourse
Obligations) of such Person for borrowed money (including without limitation, Indebtedness for
borrowed money evidenced by notes, bonds, debentures or similar instruments).

          “Indenture” means this Indenture, as amended or supplemented from time to time.

          “Independent Investment Banker” means Citigroup Global Markets Inc., J.P. Morgan
Securities Inc. or their respective successors as may be appointed from time to time by the Trustee
after consultation with the Company; provided, however, that if any of the
foregoing ceases to be a Primary Treasury Dealer, the Company will substitute another Primary
Treasury Dealer.

          “Initial Purchasers” means Citigroup Global Markets Inc., J.P. Morgan Securities Inc.
and the other Initial Purchasers named in the Purchase Agreement.

          “Investment Grade” means a rating of Baa3 or better by Moody’s (or its equivalent
under any successor Rating Categories of Moody’s); a rating of BBB- or better by S&P (or its
equivalent under any successor Rating Categories of S&P); and the equivalent Investment Grade
credit rating from any additional Rating Agency or Rating Agencies selected by the Company.

          “Issue Date” means November 20, 2006.

          “Lien” means any mortgage, security interest, pledge, lien, charge or other similar
encumbrance.

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

          “Non-recourse Obligation” means Indebtedness or other obligations substantially
related to (1) the acquisition of assets not previously owned by the Company, any Subsidiary
Guarantor or any of the Company’s other direct or indirect Subsidiaries or (2) the financing of a
project involving the development or expansion of properties of the Company, any Subsidiary
Guarantor or any of the Company’s other direct or indirect Subsidiaries, as to which the obligee
with respect to such Indebtedness or obligation has no recourse to the Company, any Subsidiary
Guarantor or any of the Company’s other direct or indirect Subsidiaries or any of the Company’s,
any Subsidiary Guarantor’s or such Subsidiary’s assets other than the assets which
were acquired with the proceeds of such transaction or the project financed with the proceeds
of such transaction (and the proceeds thereof).

4

 

          “Officer” means the Chief Executive Officer, President, the Controller, the Chief
Operating Officer, any Vice President, the Treasurer, the Assistant Treasurer, the Chief Financial
Officer, the Chief Accounting Officer, the General Counsel, the Secretary or the Assistant
Secretary, as applicable.

          “Officers’ Certificate” means a certificate signed by any two Officers of the Company.

          “Opinion of Counsel” means a written opinion from legal counsel to the Company. The
counsel may be an employee of the Company. Opinions of Counsel required to be delivered under this
Indenture may have qualifications customary for opinions of the type required and counsel
delivering such Opinions of Counsel may rely on certificates of the Company or governmental or
other officials customary for opinions of the type required, including certificates certifying as
to matters of fact.

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

          “principal” means the principal of the Notes of each series plus the premium, if any,
payable on the Notes of each series which is due or overdue or is to become due at the relevant
time; provided, however, that for purposes of calculating any such premium, the
term “principal” shall not include the premium with respect to which such calculation is being
made.

          “Primary Treasury Dealer” means a primary U.S. Government securities dealer in New
York City.

          “Private Notes” means the senior unsecured notes of the Company issued pursuant to the
Note Purchase Agreements dated as of November 1, 1996, September 15, 1997, October 15, 1998 and
July 1, 2003, in each case by and among the Company and the investors party thereto, as each may be
amended from time to time.

          “Purchase Agreement” means the Purchase Agreement, dated November 15, 2006, among the
Company, the Subsidiary Guarantors and the Initial Purchasers.

          “Rating Agency” means (1) each of Moody’s and S&P; and (2) if either of 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 control of the Company, a “nationally recognized statistical rating organization”
within the meaning of Rule 15c3-1(c)(2)(vi)(F) under the Exchange Act, selected by the Company (as
certified by a resolution of the Board of Directors) as a replacement agency for Moody’s or S&P, or
both, as the case may be.

          “Rating Category” means (i) with respect to S&P, any of the following categories: BBB,
BB, CCC, CC, C and D (or equivalent successor categories); (ii) with respect to Moody’s, any of the
following categories: Baa, Ba, B, Caa, Ca, C and D (or equivalent successor

5

 

categories); and (iii) the equivalent of any such category of S&P or Moody’s used by another
Rating Agency. In determining whether the rating of the Notes has decreased by one or more
gradations, gradations within Rating Categories (+ and – for S&P; 1, 2 and 3 for Moody’s; or the
equivalent gradations for another rating agency) shall be taken into account (e.g., with respect to
S&P, a decline in a rating from BB+ to BB, as well as from BB– to B+, will constitute a decrease of
one gradation).

          “Rating Date” means the date which is 60 days prior to the earlier of, (i) a Change of
Control or (ii) public notice of the occurrence of a Change of Control or of the intention by the
Company to effect a Change of Control.

          “Ratings Event” means the occurrence of the events described in (a) or (b) below on,
or within 60 days after the earlier of, (i) the occurrence of a Change of Control or (ii) public
notice of the occurrence of a Change of Control or the intention by the Company to effect a Change
of Control (which period shall be extended so long as the rating of the Notes is under publicly
announced consideration for a possible downgrade by any of the Rating Agencies): (a) in the event
the Notes are rated by both Rating Agencies on the Rating Date as Investment Grade, the rating of
the Notes shall be reduced so that the Notes are rated below Investment Grade by both Rating
Agencies, or (b) in the event the Notes (1) are rated Investment Grade by one Rating Agency and
below Investment Grade by the other Rating Agency or (2) below Investment Grade by both Rating
Agencies on the Rating Date, the rating of the Notes by either Rating Agency shall be decreased by
one or more gradations (including gradations within Rating Categories, as well as between Rating
Categories). Notwithstanding the foregoing, a Ratings Event otherwise arising by virtue of a
particular reduction in rating shall not be deemed to have occurred in respect of a particular
Change of Control (and thus shall not be deemed a Ratings Event for purposes of the definition of
Change of Control Repurchase Event hereunder) if the Rating Agencies making the reduction in rating
to which this definition would otherwise apply do not announce or publicly confirm or inform the
Trustee in writing at its request that the reduction was the result, in whole or in part, of any
event or circumstance comprised of or arising as a result of, or in respect of, the applicable
Change of Control (whether or not the applicable Change of Control shall have occurred at the time
of the Ratings Event).

          “Redemption Date” shall mean the date specified for redemption of the Notes of any
series in accordance with the terms of the Notes of such series and Section 3.1.

          “Reference Treasury Dealer” means Citigroup Global Markets Inc., J.P. Morgan
Securities Inc. and two other Primary Treasury Dealers selected by the Company, and each of their
respective successors and any other Primary Treasury Dealers selected by the Trustee after
consultation with the Company.

          “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury
Dealer and any Redemption Date, the arithmetic average, as determined by the Trustee, of the bid
and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its
principal amount) quoted in writing to the Trustee by such Reference Treasury Dealer as of 3:30
p.m., New York City time, on the third Business Day preceding such Redemption Date.

6

 

          “Registered Exchange Offer” means the offer by the Company, pursuant to the
Registration Rights Agreement, to certain holders of Initial Notes of any series, to issue and
deliver to such holders, in exchange for the Initial Notes of such series, a like aggregate
principal amount of Exchange Notes of the corresponding series registered under the Securities Act.

          “Registration Rights Agreement” means the Registration Rights Agreement, dated as of
November 20, 2006, among the Company, the Subsidiary Guarantors and the Initial Purchasers as such
agreement may be amended, modified or supplemented from time to time, and, with respect to any
Additional Notes, one or more registration rights agreements between the Company and the other
parties thereto, as such agreement(s) may be amended, modified or supplemented from time to time,
relating to rights given by the Company to purchasers of Additional Notes of any series with
respect to registration of such Additional Notes of such series under the Securities Act.

          “Remaining Scheduled Payments” means, with respect to any Note to be redeemed, the
Remaining Scheduled Payments of the principal of and premium, if any, and interest on such Note
that would be due after the related Redemption Date but for such redemption; provided,
however, that, if such Redemption Date is not an interest payment date with respect to such
Note, the amount of the next scheduled interest payment thereon will be reduced by the amount of
interest accrued thereon to such Redemption Date.

          “Restricted Period” means the 40 consecutive days beginning on and including the later
of (1) the Issue Date and (2) the last date that the Company or any of its Affiliates was the owner
of the Notes or any predecessor of the Notes.

          “Restrictive Notes Legend” means the Restrictive Legend set forth in clause (A) of
Section 2.1(c) or the Regulation S Legend set forth in clause (B) of Section 2.1(c), as applicable.

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

          “SEC” means the Securities and Exchange Commission, or any successor agency.

          “Securities Act” means the Securities Act of 1933, as amended, and the rules and
regulations promulgated by the SEC thereunder.

          “Securities Custodian” means the custodian with respect to a Global Note (as appointed
by DTC), or any successor person thereto and shall initially be the Trustee.

          “Stated Maturity” means, with respect to any security, the date specified in such
security as the fixed date on which the payment of principal of such security is due and payable,
including pursuant to any mandatory redemption provision (but excluding any provision providing for
the repurchase of such security at the option of the holder thereof until the exercise of such
option by such holder).

7

 

          “Subsidiary” means, with respect to any Person (the “parent”) at any date, any
corporation, limited liability company, partnership, association or other entity the accounts of
which would be consolidated with those of the parent in the parent’s consolidated financial
statements if such financial statements were prepared in accordance with GAAP as of that date, as
well as any other corporation, limited liability company, partnership, association or other entity
of which securities or other ownership interests representing more than 50% of the equity or more
than 50% of the ordinary voting power or, in the case of a partnership, more than 50% of the
general partnership interests are, as of that date, owned, controlled or held by the parent or one
or more Subsidiaries of the parent or by the parent and one or more Subsidiaries of the parent.

          “Subsidiary Guarantors” means all the wholly-owned Domestic Subsidiaries of the
Company and all of the Subsidiaries that become guarantors under the Credit Agreement, the Note
Purchase Agreements and any other Subsidiary of the Company that, in accordance with the terms of
this Indenture, Guarantees the Notes, in each case until such Guarantee is released pursuant to the
provisions of Article X.

          “Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal
to the semi-annual equivalent yield to maturity (computed as of the third Business Day immediately
preceding that Redemption Date) of the Comparable Treasury Issue. In determining this rate, the
Company will assume a price for the Comparable Treasury Issue (expressed as a percentage of its
principal amount) equal to the Comparable Treasury Price for such Redemption Date.

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

          “Trustee” means the party named as such in the preamble to this Indenture until a
successor replaces it in accordance with the applicable provisions of this Indenture and,
thereafter, means such successor.

          “Trust Officer” means, when used with respect to the Trustee, any officer within the
Corporate Trust Department of the Trustee, including any vice president, assistant vice president,
assistant treasurer, trust officer or any other officer of the Trustee who has direct
responsibility for the administration of this Indenture.

          “Uniform Commercial Code” means the New York Uniform Commercial Code as in effect from
time to time.

          “U.S. Government Obligations” means direct obligations (or certificates representing
an ownership interest in such obligations) of the United States of America (including any agency or
instrumentality thereof) for the payment of which the full faith and credit of the United States of
America is pledged and which are not callable or redeemable at the Company’s option.

8

 

          “Voting Stock” of any specified “person” (as that term is used in Section 13(d)(3) of
the Exchange Act) as of any date means the Capital Stock of such person that is at the time
entitled to vote generally in the election of the board of directors of such person.

          SECTION 1.2.   Other Definitions.

	 	 	 	 	 
	 	 	Defined in	 
	Term	 	Section	 
	“Affiliate”
	 	 	11.6	 
	“Agent Members”
	 	 	2.1	(d)
	“Applicable Procedures”
	 	 	2.6	(a)
	“Authenticating Agent”
	 	 	2.2	 
	“Authentication Order” 2.2
“Bankruptcy Law”
	 	 	6.1	 
	“Change of Control Offer”
	 	 	4.4	 
	“covenant defeasance option”
	 	 	8.1	(b)
	“Custodian”
	 	 	6.1	 
	“Definitive Notes”
	 	 	2.1	(e)
	“Event of Default”
	 	 	6.1	 
	“Exchange Global Note”
	 	 	2.1	(a)
	“Exchange Notes”
	 	Preamble
	“Global Notes”
	 	 	2.1	(a)
	“Initial Notes”
	 	Preamble
	“legal defeasance option”
	 	 	8.1	(b)
	“Make-Whole Amount”
	 	 	3.7	 
	“Notes”
	 	Preamble
	“Notice of Default”
	 	 	6.1	 
	“Obligations”
	 	 	10.1	 
	“Paying Agent”
	 	 	2.3	 
	“QIBs”
	 	 	2.1	(a)
	“Registrar”
	 	 	2.3	 
	“Regulation S”
	 	 	2.1	(a)
	“Regulation S Certificate”
	 	 	2.6	(a)
	“Regulation S Global Note”
	 	 	2.1	(a)
	“Regulation S Legend”
	 	 	2.1	(c)
	“Regulation S Note”
	 	 	2.1	(a)
	“Restrictive Legend”
	 	 	2.1	(c)
	“Rule 144A”
	 	 	2.1	(a)
	“Rule 144A Certificate”
	 	 	2.6	(b)
	“Rule 144A Global Note”
	 	 	2.1	(a)
	“Rule 144A Note”
	 	 	2.1	(a)
	“Successor”
	 	 	5.1	 

          SECTION 1.3.   Incorporation by Reference of Trust Indenture Act. This
Indenture is subject to the mandatory provisions of the Trust Indenture Act which are
incorporated by reference in and made a part of this Indenture. The following terms in the Trust
Indenture Act have the following meanings:

9

 

          “Commission” means the SEC.

          “indenture securities” means the Notes.

          “indenture security holder” means a Holder.

          “indenture to be qualified” means this Indenture.

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

          “obligor” on the indenture securities means the Company and any other obligor
on the indenture securities.

          All other terms used in this Indenture that are defined by the Trust Indenture Act, defined by
reference to another statute or defined by SEC rule have the meanings assigned to them by such
definitions.

          SECTION 1.4.   Rules of Construction. For purposes of this Indenture, except as
otherwise expressly provided herein or unless the context otherwise requires:

     (1) a term has the meaning assigned to it;

     (2) an accounting term not otherwise defined has the meaning assigned to it in
accordance with GAAP;

     (3) “including” means including without limitation;

     (4) words in the singular include the plural and words in the plural include the
singular;

     (5) all references to (a) Initial Notes of each series shall refer also to any
Additional Notes of any series issued in the form of Initial Notes of such series and (b)
Exchange Notes of each series shall refer also to any Additional Notes of any series issued
in the form of Exchange Notes of such series, in each case, pursuant to Section 2.15;

     (6) all references to the date the Notes of each series were originally issued shall
refer to the Issue Date or the date any Additional Notes of any series were originally
issued, as the case may be; and

     (7) all references herein to particular Sections or Articles shall refer to this
Indenture unless otherwise so indicated.

10

 

ARTICLE II

The Notes

          SECTION 2.1.   Form and Dating. (a) The Initial Notes of each series are being
offered and sold by the Company to the Initial Purchasers pursuant to the Purchase Agreement. The
Initial Notes of each series shall be resold initially by the Initial Purchasers only to (A)
qualified institutional buyers (as defined in Rule 144A under the Securities Act (“Rule
144A”)) in reliance on Rule 144A (“QIBs”) and (B) Persons other than U.S. Persons (as
defined in Regulation S under the Securities Act (“Regulation S”)) in reliance on
Regulation S. The Initial Notes of each series may thereafter be transferred to, among others,
QIBs and purchasers in reliance on Regulation S of the Securities Act in accordance with the
procedure described herein. The Initial Notes of each series shall be dated the date of their
authentication.

          Initial Notes of each series offered and sold to QIBs in the United States of America in
reliance on Rule 144A (each, a “Rule 144A Note” and collectively, the “Rule 144A
Notes”) shall be issued on the Issue Date in the form of a permanent global Note, without
interest coupons, substantially in the form of Exhibits A and B, which are incorporated by
reference and made a part of this Indenture, including appropriate legends as set forth in Section
2.1(c) (each, a “Rule 144A Global Note” and, collectively, the “Rule 144A Global
Notes”), deposited with the Trustee, as custodian for DTC, duly executed by the Company and
authenticated by the Trustee as hereinafter provided. Each Rule 144A Global Note may be
represented by more than one certificate, if so required by DTC’s rules regarding the maximum
principal amount to be represented by a single certificate. The aggregate principal amount of the
Rule 144A Global Notes may from time to time be increased or decreased by adjustments made on the
records of the Trustee, as custodian for DTC or its nominee, as hereinafter provided.

          Initial Notes of each series offered and sold outside the United States of America (each, a
“Regulation S Note” and collectively, the “Regulation S Notes”) in reliance on
Regulation S shall be issued on the Issue Date in the form of a permanent global Note, without
interest coupons, substantially in the form set forth in Exhibits A and B, which are
incorporated by reference and made a part of this Indenture, including appropriate legends as set
forth in Section 2.1(c) (each, a “Regulation S Global Note” and, collectively, the
“Regulation S Global Notes”) deposited with the Trustee, as custodian for DTC, duly
executed by the Company and authenticated by the Trustee as hereinafter provided. Each Regulation
S Global Note may be represented by more than one certificate, if so required by DTC’s rules
regarding the maximum principal amount to be represented by a single certificate. The aggregate
principal amount of the Regulation S Global Notes may from time to time be increased or decreased
by adjustments made on the records of the Trustee, as custodian for DTC or its nominee, as
hereinafter provided.

          Exchange Notes of each series exchanged for interests in a Rule 144A Note and a Regulation S
Note shall be issued in the form of a permanent global Note substantially in the form of
Exhibits C and D hereto, which are hereby incorporated by reference and made a part of this
Indenture, deposited with the Trustee as hereinafter provided, including the appropriate legend set
forth in Section 2.1(c) (each, an “Exchange Global Note” and, collectively, the
“Exchange Global Notes”). Each Exchange Global Note may be represented by more than
one certificate, if so required by DTC’s rules regarding the maximum principal amount to be
represented by a single certificate.

11

 

          The Rule 144A Global Notes, the Regulation S Global Notes and the Exchange Global Notes are
sometimes collectively herein referred to as the “Global Notes.”

          The principal of and interest on the Notes shall be payable at the office or agency of the
Company maintained for such purpose in Los Angeles, California, or at such other office or agency
of the Company as may be maintained for such purpose pursuant to Section 2.3; provided,
however, that at the option of the Company, each installment of interest may be paid by (i)
check mailed to addresses of the Persons entitled thereto as such addresses shall appear on the
Note Register or (ii) upon request of any Holder of at least $1,000,000 principal amount of Notes,
wire transfer to an account located in the United States maintained by the payee. Payments in
respect of Notes represented by a Global Note (including principal, premium, if any, and interest)
shall be made by wire transfer of immediately available funds to the accounts specified by DTC.

          (b)   Denominations. The Notes shall be issuable only in fully registered form,
without coupons, and only in denominations of $2,000 and any integral multiple of $1,000 in excess
thereof.

          (c)   Restrictive Legends. Unless and until (i) an Initial Note of any series is sold
under an effective registration statement or (ii) an Initial Note of any series is exchanged for an
Exchange Note of such series in connection with an effective registration statement, in each case
pursuant to the Registration Rights Agreement or a similar agreement,

          (A) the Rule 144A Global Note shall bear the following legend (the “Restrictive
Legend”) on the face thereof:

“THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS
SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED,
TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH
REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH
REGISTRATION. THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF, AGREES ON ITS OWN
BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES, TO
OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE “RESALE RESTRICTION
TERMINATION DATE”) THAT IS TWO YEARS AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND
THE LAST DATE ON WHICH THE COMPANY OR ANY AFFILIATE OF THE COMPANY WAS THE OWNER OF THIS
SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY), ONLY (A) TO THE COMPANY, (B) PURSUANT TO A
REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE
SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR

12

 

RESALE PURSUANT TO RULE
144A UNDER THE SECURITIES ACT, TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED
INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT THAT PURCHASES FOR ITS
OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN
THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES
THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES
ACT, (E) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1),
(2), (3) OR (7) UNDER THE SECURITIES ACT THAT IS AN INSTITUTIONAL ACCREDITED INVESTOR
ACQUIRING THE SECURITY FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF SUCH AN INSTITUTIONAL
ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF THE SECURITIES OF
$250,000, FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO OR FOR OFFER OR SALE IN CONNECTION
WITH ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, OR (F) PURSUANT TO ANOTHER
AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE
COMPANY’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO
CLAUSES (D), (E) OR (F) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION
AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM. THIS LEGEND WILL BE REMOVED UPON THE
REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE.

          (B) the Regulation S Global Note shall bear the following legend (the “Regulation S
Legend”) on the face thereof:

“THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS
SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED,
TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH
REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH
REGISTRATION. THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF, AGREES ON ITS OWN
BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES, TO
OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE “RESALE RESTRICTION
TERMINATION DATE”) THAT IS 40 DAYS AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE
LAST DATE ON WHICH THE COMPANY OR ANY AFFILIATE OF THE COMPANY WAS THE OWNER OF THIS
SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY), ONLY (A) TO THE COMPANY, (B) PURSUANT TO A
REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO
LONG AS THE SECURITIES ARE ELIGIBLE FOR
RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT, TO A

13

 

PERSON IT REASONABLY BELIEVES IS
A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT THAT
PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM
NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO
OFFERS AND SALES THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S
UNDER THE SECURITIES ACT, (E) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING
OF RULE 501(a)(1), (2), (3) OR (7) UNDER THE SECURITIES ACT THAT IS AN INSTITUTIONAL
ACCREDITED INVESTOR ACQUIRING THE SECURITY FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF SUCH AN
INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF THE
SECURITIES OF $250,000, FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO OR FOR OFFER OR SALE
IN CONNECTION WITH ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, OR (F) PURSUANT TO
ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT,
SUBJECT TO THE COMPANY’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER
PURSUANT TO CLAUSES (D), (E) OR (F) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL,
CERTIFICATION AND/ OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM. THIS LEGEND WILL BE
REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE. BY
ITS ACQUISITION HEREOF, THE HOLDER HEREOF REPRESENTS THAT IT IS NOT A U.S. PERSON NOR IS IT
PURCHASING FOR THE ACCOUNT OF A U.S. PERSON AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE
TRANSACTION IN ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT.”

          (C) The Global Notes, whether or not an Initial Note, shall bear the following legend on the
face thereof:

“UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY, A NEW YORK CORPORATION (“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 IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND
ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY
OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
INTEREST HEREIN.

TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART,
TO NOMINEES OF DTC OR TO A SUCCESSOR
THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL
BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE
REFERRED TO ON THE REVERSE HEREOF.”

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          (d)   Book-Entry Provisions.

          (1)   This Section 2.1(d) shall apply only to Global Notes deposited with the Trustee,
as custodian for DTC.

          (2)   Each Global Note initially shall (x) be registered in the name of DTC or the
nominee of DTC, (y) be delivered to the Trustee as custodian for DTC and (z) bear legends as
set forth in Section 2.1(c).

          (3)   Members of, or participants in, DTC (“Agent Members”) shall have no
rights under this Indenture with respect to any Global Note held on their behalf by DTC or
by the Trustee as the custodian of DTC or under such Global Note, and DTC shall be treated
by the Company, the Trustee and any agent of the Company or the Trustee as the absolute
owner of such Global Note for all purposes whatsoever. Notwithstanding the foregoing,
nothing herein shall prevent the Company, the Trustee or any agent of the Company or the
Trustee from giving effect to any written certification, proxy or other authorization
furnished by DTC or impair, as between DTC and its Agent Members, the operation of customary
practices of DTC governing the exercise of the rights of a holder of a beneficial interest
in any Global Note.

          (4)   In connection with any transfer of a portion of the beneficial interest in a
Global Note pursuant to subsection (e) of this Section 2.1 to beneficial owners who are
required to hold Definitive Notes, the Securities Custodian shall reflect on its books and
records the date and a decrease in the principal amount of such Global Note in an amount
equal to the principal amount of the beneficial interest in the Global Note to be
transferred, and the Company shall execute, and the Trustee shall authenticate and deliver,
one or more Definitive Notes of the relevant series of like tenor and amount.

          (5)   In connection with the transfer of an entire Global Note to beneficial owners
pursuant to subsection (e) of this Section 2.1, such Global Note shall be deemed to be
surrendered to the Trustee for cancellation, and the Company shall execute, and the Trustee
shall authenticate and deliver, to each beneficial owner identified by DTC in exchange for
its beneficial interest in such Global Note, an equal aggregate principal amount of
Definitive Notes of the relevant series of authorized denominations.

          (6)   The registered holder of a Global Note may grant proxies and otherwise authorize
any person, including Agent Members and persons that may hold interests through Agent
Members, to take any action which a Holder is entitled to take under this Indenture or the
Notes.

          (e)   Definitive Notes.

          (1)   Except as provided below, owners of beneficial interests in Global Notes shall
not be entitled to receive certificated Notes (“Definitive Notes”). If required to
do so pursuant to any applicable law or regulation, beneficial owners may obtain Definitive
Notes in

15

 

exchange for their beneficial interests in a Global Note upon written request in
accordance with DTC’s and the Registrar’s procedures. In addition, Definitive Notes shall
be transferred to all beneficial owners in exchange for their beneficial interests in a
Global Note if (a) DTC notifies the Company that it is unwilling or unable to continue as
depository for such Global Note or DTC ceases to be a clearing agency registered under the
Exchange Act, at a time when DTC is required to be so registered in order to act as
depository, and in each case a successor depository is not appointed by the Company within
90 days of such notice or, (b) the Company executes and delivers to the Trustee and
Registrar an Officers’ Certificate stating that such Global Note shall be so exchangeable or
(c) an Event of Default has occurred and is continuing with respect to the Notes of a series
and the Registrar has received a request from DTC to exchange the Global Note for such
series for Definitive Notes of such series.

          (2)   Any Definitive Note delivered in exchange for an interest in a Global Note
pursuant to Section 2.1(d)(4) or (5) shall, except as otherwise provided by Section 2.6(g),
bear the applicable legend regarding transfer restrictions applicable to the Definitive Note
set forth in Section 2.1(c).

          SECTION 2.2.   Execution and Authentication. An Officer of the Company shall sign the
Notes for the Company by manual or facsimile signature and may be imprinted or otherwise
reproduced.

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

          A Note shall not be valid until an authorized signatory of the Trustee manually authenticates
the Note. The signature of the Trustee on a Note shall be conclusive evidence that such Note has
been duly and validly authenticated and issued under this Indenture.

          At any time and from time to time after the execution and delivery of this Indenture, the
Trustee shall authenticate and make available for delivery: (1) Initial Notes for original issue on
the Issue Date in an aggregate principal amount of $350,000,000 of 2016 Notes and in an aggregate
principal amount of $250,000,000 of 2036 Notes, (2) any Additional Notes for original issue from
time to time after the Issue Date in such principal amounts as set forth in Section 2.15 and (3)
any Exchange Notes for issue only in exchange for a like principal amount of Initial Notes, in each
case upon a written order of the Company signed by two Officers of the Company (an
“Authentication Order”). Such Authentication Order shall specify the amount of the Notes
to be authenticated and the date on which the original issue of Notes is to be authenticated and
whether the Notes are to be Initial Notes or Exchange Notes. The aggregate principal amount of
Initial Notes (other than Additional Notes) which may be authenticated and delivered under this
Indenture is limited to $350,000,000 of 2016 Notes and $250,000,000 of 2036 Notes. Additionally,
the Company may from time to time, without notice to or consent of the Holders, issue such
additional principal amounts of Additional Notes as may be issued and
authenticated pursuant to clause (2) of this paragraph, and Notes authenticated and delivered
upon registration or transfer of, or in exchange for, or in lieu of, other Notes of the same series
pursuant to Section 2.6, Section 2.9, Section 2.10, Section 3.6, Section 9.5 and except for
transactions similar to the Registered Exchange Offer.

16

 

          The Trustee may appoint an agent (the “Authenticating Agent”) reasonably acceptable to
the Company to authenticate the Notes. Unless limited by the terms of such appointment, any such
Authenticating Agent may authenticate Notes whenever the Trustee may do so. Each reference in this
Indenture to authentication by the Trustee includes authentication by such agent.

          In case the Company, pursuant to Article V, shall be consolidated or merged with or into any
other Person or shall convey, transfer, lease or otherwise dispose of its properties and assets
substantially as an entirety to any Person, and the successor Person resulting from such
consolidation, or surviving such merger, or into which the Company shall have been merged, or the
Person which shall have received a conveyance, transfer, lease or other disposition as aforesaid,
shall have executed an indenture supplemental hereto (if not otherwise a party to the Indenture)
with the Trustee pursuant to Article V, any of the Notes authenticated or delivered prior to such
consolidation, merger, conveyance, transfer, lease or other disposition may, from time to time, at
the request of the successor Person, be exchanged for other Notes executed in the name of the
successor Person with such changes in phraseology and form as may be appropriate, but otherwise in
substance of like tenor as the Notes surrendered for such exchange and of like principal amount;
and the Trustee, upon Authentication Order of the successor Person, shall authenticate and deliver
Notes as specified in such order for the purpose of such exchange. If Notes shall at any time be
authenticated and delivered in any new name of a successor Person (if other than the Company)
pursuant to this Section 2.2 in exchange or substitution for or upon registration of transfer of
any Notes, such successor Person (if other than the Company), at the option of the Holders but
without expense to them, shall provide for the exchange of all Notes at the time outstanding for
Notes authenticated and delivered in such new name.

          SECTION 2.3.   Registrar and Paying Agent. The Company shall maintain an office or
agency where Notes may be presented for registration of transfer or for exchange (the
“Registrar”) and an office or agency where Notes may be presented for payment (the
“Paying Agent”). The Registrar shall keep a register of the Notes and of their transfer
and exchange. The Company may have one or more additional paying agents. The term “Paying Agent”
includes any such additional paying agent. The Company may change the Registrar or appoint one or
more co-Registrars without notice.

          In the event the Company shall retain any Person not a party to this Indenture as an agent
hereunder, the Company shall enter into an appropriate agency agreement with any Registrar or
Paying Agent not a party to this Indenture, which shall incorporate the terms of the Trust
Indenture Act. The agreement shall implement the provisions of this Indenture that relate to such
agent. The Company shall notify the Trustee of the name and address of each such agent. If the
Company fails to maintain a Registrar or Paying Agent, the Trustee shall act as such and shall be
entitled to appropriate compensation therefor pursuant to Section 7.7. The Company shall be
responsible for the fees and compensations of all agents appointed or
approved by it. Either the Company or any of its domestically incorporated wholly owned
Subsidiaries may act as Paying Agent.

          The Company initially appoints the Trustee as Registrar and Paying Agent for the Notes.

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          SECTION 2.4.   Paying Agent To Hold Money in Trust. By no later than 11:00 a.m. (New
York City time) on the date on which any principal or interest (including any Additional Interest)
on any Note is due and payable, the Company shall deposit with the Paying Agent a sum sufficient to
pay such principal or interest (including any Additional Interest) when due. The Company shall
require each Paying Agent (other than the Trustee) to agree in writing that such Paying Agent shall
hold in trust for the benefit of Noteholders or the Trustee all money held by such Paying Agent for
the payment of principal of or interest (including any Additional Interest) on the Notes and shall
notify the Trustee in writing of any Default by the Company in making any such payment. If either
of the Company or any of its Subsidiaries acts as Paying Agent, it shall segregate the money held
by it as Paying Agent and hold it as a separate trust fund. The Company at any time may require a
Paying Agent (other than the Trustee) to pay all money held by it to the Trustee and to account for
any funds disbursed by such Paying Agent. Upon complying with this Section 2.4, the Paying Agent
(if other than the Company or a Subsidiary) shall have no further liability for the money delivered
to the Trustee. Upon any bankruptcy, reorganization or similar proceeding with respect to the
Company, the Trustee shall serve as Paying Agent for the Notes.

          SECTION 2.5.   Noteholder Lists. The Trustee shall preserve in as current a form as
is reasonably practicable the most recent list available to it of the names and addresses of
Noteholders of each series. If the Trustee is not the Registrar, the Company shall cause the
Registrar to furnish to the Trustee, in writing at least five Business Days before each interest
payment date and at such other times as the Trustee may request in writing, a list in such form and
as of such date as the Trustee may reasonably require of the names and addresses of Noteholders.

          SECTION 2.6.   Transfer and Exchange. Notwithstanding any other provision of this
Indenture or the Notes (other than Section 2.1(e) hereof), transfers and exchanges of Notes of each
series and beneficial interests in a Global Note of the kinds specified in this Section 2.6 shall
be made only in accordance with this Section 2.6.

          (a)   Rule 144A Global Note to Regulation S Global Note. If the owner of a beneficial
interest in a Rule 144A Global Note wishes at any time to transfer such interest to a person who
wishes to take delivery thereof in the form of a beneficial interest in a Regulation S Global Note
of such series, such transfer may be effected only in accordance with the provisions of this
Section 2.6(a), and subject to the Applicable Procedures (as defined below). Upon receipt by the
Trustee, as Registrar, of (A) an order given by DTC or its authorized representative directing that
a beneficial interest in such Regulation S Global Note in a specified principal amount be credited
to a specified Agent Member’s account and that a beneficial interest in such
Rule 144A Global Note in an equal principal amount be debited from another specified Agent
Member’s account and (B) a Regulation S Certificate (a “Regulation S Certificate”), the
form of which is set forth in Exhibits E and F hereto, satisfactory to the Trustee and duly
executed by the owner of such beneficial interest in such Rule 144A Global Note or his attorney
duly authorized in writing, then the Trustee, as Registrar, shall increase the principal amount of
such Regulation S Global Note by such specified principal amount as provided in this Section 2.6.
“Applicable Procedures” means, with respect to any transfer or transaction involving a
Global Note or beneficial interest therein, the rules and procedures of DTC, Euroclear and
Clearstream or their successors or assigns, in each case, to the extent applicable to such
transaction and as in effect from time to time.

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          (b)   Regulation S Global Note to Rule 144A Global Note. If the owner of a beneficial
interest in a Regulation S Global Note wishes at any time to transfer such interest to a person who
wishes to take delivery thereof in the form of a beneficial interest in a Rule 144A Global Note of
such series, such transfer may be effected only in accordance with this Section 2.6(b) and subject
to the Applicable Procedures. Upon receipt by the Trustee, as Registrar, of (A) an order given by
DTC or its authorized representative directing that a beneficial interest in such Rule 144A Global
Note in a specified principal amount be credited to a specified Agent Member’s account and that a
beneficial interest in such Regulation S Global Note in an equal principal amount be debited from
another specified Agent Member’s account and (B) if such transfer is to occur during (but only
during) the Restricted Period, a Rule 144A Certificate (a “Rule 144A Certificate”), the
form of which is set forth in Exhibits G and H hereto, satisfactory to the Trustee and duly
executed by the owner of such beneficial interest in such Regulation S Global Note or his attorney
duly authorized in writing, then the Trustee, as Registrar, shall reduce the principal amount of
such Regulation S Global Note and increase the principal amount of such Rule 144A Global Note by
such specified principal amount as provided in this Section 2.6.

          (c)   Rule 144A Non-Global Note to Rule 144A Global Note or Regulation S Global Note.
If the holder of a Rule 144A Note (other than a Global Note) wishes at any time to transfer all or
any portion of such Note to a person who wishes to take delivery thereof in the form of a
beneficial interest in a Rule 144A Global Note of such series or a Regulation S Global Note of such
series, such transfer may be effected only in accordance with the provisions of this Section 2.6(c)
and subject to the Applicable Procedures. Upon receipt by the Trustee, as Registrar, of (A) such
Note as provided in Section 2.3 and instructions satisfactory to the Trustee directing that a
beneficial interest in such Rule 144A Global Note or Regulation S Global Note in a specified
principal amount not greater than the principal amount of such Note be credited to a specified
Agent Member’s account and (B) a Rule 144A Certificate, if the specified account is to be credited
with a beneficial interest in a Rule 144A Global Note, or a Regulation S Certificate, if the
specified account is to be credited with a beneficial interest in a Regulation S Global Note, in
either case, satisfactory to the Trustee and duly executed by such holder or his attorney duly
authorized in writing, then the Trustee, as Registrar, shall cancel such Note (and issue a new Note
in respect of any untransferred portion thereof) as provided in Section 2.3 and increase the
principal amount of such Rule 144A Global Note or such Regulation S Global Note, as the case may
be, by the specified principal amount as provided in this Section 2.6.

          (d)   Regulation S Non-Global Note to Rule 144A Global Note or Regulation S Global
Note. If the holder of a Regulation S Note (other than a Global Note) wishes at any time to
transfer all or any portion of such Note to a person who wishes to take delivery thereof in the
form of a beneficial interest in a Rule 144A Global Note of such series or a Regulation S Global
Note of such series, such transfer may be effected only in accordance with this Section 2.6(d) and
subject to the Applicable Procedures. Upon receipt by the Trustee, as Registrar, of (A) such Note
as provided in Section 2.3 and instructions satisfactory to the Trustee directing that a beneficial
interest in such Rule 144A Global Note or Regulation S Global Note in a specified principal amount
not greater than the principal amount of such Note be credited to a specified

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Agent Member’s
account and (B) if the transfer is to occur during (but only during) the Restricted Period and the
specified account is to be credited with a beneficial interest in such Rule 144A Global Note, a
Rule 144A Certificate satisfactory to the Trustee and duly executed by such holder or his attorney
duly authorized in writing, then the Trustee, as Registrar, shall cancel such Note (and issue a new
Note in respect of any untransferred portion thereof) as provided in Section 2.3 and increase the
principal amount of such Rule 144A Global Note or such Regulation S Global Note, as the case may
be, by the specified principal amount as provided in this Section 2.6.

          (e)   Non-Global Note to Non-Global Note. A Note that is not a Global Note may be
transferred, in whole or in part, to a person who takes delivery in the form of another Note of
such series that is not a Global Note in accordance with Section 2.3; provided, that if the
Note to be transferred in whole or in part is (I) a Rule 144A Note or (II) a Regulation S Note and
the transfer is to occur during (but only during) the Restricted Period, then, in each case, the
Trustee, as Registrar, shall have received (A) a Rule 144A Certificate, satisfactory to the Trustee
and duly executed by the transferor holder or his attorney duly authorized in writing, in which
case the transferee holder shall take delivery in the form of a Rule 144A Note, or (B) a Regulation
S Certificate, satisfactory to the Trustee and duly executed by the transferor holder or his
attorney duly authorized in writing, in which case the transferee holder shall take delivery in the
form of a Regulation S Note (subject in each case to Section 2.6(g)).

          (f)   Exchange between Global Note and Non-Global Note. A beneficial interest in a
Global Note may be exchanged for a Note of such series that is not a Global Note as provided in
Section 2.1(e); provided, that if such interest is a beneficial interest in (I) a Rule 144A
Global Note or (II) a Regulation S Global Note and such exchange is to occur during the Restricted
Period, then, in each case, such interest shall be exchanged for a Rule 144A Note (subject in each
case to Section 2.6(g)). A Note that is not a Global Note may be exchanged for a beneficial
interest in a Global Note only if (A) such exchange occurs in connection with a transfer effected
in accordance with Section 2.6(c) or (d) herein or (B) such Note is a Regulation S Note and such
exchange occurs after the Restricted Period.

          (g)   Restrictive Notes Legend. Upon the transfer, exchange or replacement of Notes
not bearing a Restrictive Notes Legend, the Registrar shall deliver such Notes that do not bear a
Restrictive Notes Legend. Upon the transfer, exchange or replacement of Notes bearing a
Restrictive Notes Legend, the Registrar shall deliver only such Notes that bear a Restrictive Notes
Legend unless there is delivered to the Registrar an Opinion of Counsel to the effect that neither
such legend nor the related restrictions on transfer are required in order to maintain compliance
with the provisions of the Securities Act.

          (h)   Officers’ Certificate. The Company shall deliver to the Trustee an Officers’
Certificate setting forth the resale restriction termination date relating to the Notes and the
Restricted Period.

          The Registrar shall retain copies of all letters, notices and other written communications
received pursuant to Section 2.1 or this Section 2.6. The Company shall have the right to inspect
and make copies of all such letters, notices or other written communications at any reasonable time
upon the giving of reasonable written notice to the Registrar.

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          (i)   Obligations with Respect to Transfers and Exchanges of Notes.

          (1)   To permit registrations of transfers and exchanges, the Company shall, subject to
the other terms and conditions of this Article II, execute and the Trustee shall
authenticate Definitive Notes and Global Notes at the Registrar’s or co-registrar’s request.

          (2)   No service charge shall be made to a Holder for any registration of transfer or
exchange, but the Company may require payment of a sum sufficient to cover any transfer tax,
assessments, or similar governmental charge payable in connection therewith (other than any
such transfer taxes, assessments or similar governmental charges payable upon exchange or
transfer pursuant to Sections 3.6 or 9.5.

          (3)   The Registrar or co-registrar shall not be required to register the transfer of
or exchange of any Note for a period beginning (1) 15 days before the mailing of a notice of
an offer to repurchase or redeem Notes of any series and ending at the close of business on
the day of such mailing or (2) 15 days before an interest payment date and ending on such
interest payment date.

          (4)   Prior to the due presentation for registration of transfer of any Note, the
Company, the Trustee, the Paying Agent, the Registrar or any co-registrar may deem and treat
the person in whose name a Note is registered as the absolute owner of such Note for the
purpose of receiving payment of principal of and interest on such Note and for all other
purposes whatsoever, whether or not such Note is overdue, and none of the Company, the
Trustee, the Paying Agent, the Registrar or any co-registrar shall be affected by notice to
the contrary.

          (5)   Any Definitive Note delivered in exchange for an interest in a Global Note
pursuant to Section 2.1(d) shall, except as otherwise provided by Section 2.6(g), bear the
applicable legend regarding transfer restrictions applicable to the Definitive Note set
forth in Section 2.1(c).

          (6)   All Notes of each series issued upon any transfer or exchange pursuant to the
terms of this Indenture shall be the valid and legally binding obligation of the Company,
shall evidence the same debt and shall be entitled to the same benefits under this Indenture
as the Notes of such series surrendered upon such transfer or exchange.

          (7)   All certificates, certifications and opinions of counsel required to be submitted
to the Registrar or any co-registrar pursuant to this Section 2.6 to effect any transfer or
exchange may be submitted by facsimile transmission, with the original to follow by first
class mail or hand delivery.

          (j)   No Obligation of the Trustee.

          (1)   The Trustee shall have no responsibility or obligation to any beneficial owner of
a Global Note, a member of, or a participant in, DTC or other Person in respect of any
aspect of the records, or for maintaining, supervising or reviewing any records, relating to
beneficial ownership interests of a Global Note, with respect to the accuracy of

21

 

the records of DTC or its nominee or of any participant or member thereof, with respect
to any ownership interest in the Notes or with respect to the delivery to any participant,
member, beneficial owner or other Person (other than DTC) of any notice (including any
notice of redemption) or the payment of any amount or delivery of any Notes (or other
security or property) under or with respect to such Notes. All notices and communications
to be given to the Holders and all payments to be made to Holders in respect of the Notes
shall be given or made only to or upon the order of the registered Holders (which shall be
DTC or its nominee in the case of a Global Note). The rights of beneficial owners in any
Global Note shall be exercised only through DTC subject to the applicable rules and
procedures of DTC. The Trustee and the Company may conclusively rely and shall be fully
protected in relying upon information furnished by DTC with respect to its members,
participants and any beneficial owners.

          (2)   The Trustee shall have no obligation or duty to monitor, determine or inquire as
to compliance with any restrictions on transfer imposed under this Indenture or under
applicable law with respect to any transfer of any interest in any Note of any series
(including any transfers between or among Agent Members or beneficial owners of interests in
any Global 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 Indenture, and to examine the same to determine substantial compliance as
to form with the express requirements hereof.

          (k)   Transfer and Exchange of Global Notes. A Global Note may not be transferred as
a whole except by DTC to a nominee of DTC, by a nominee of DTC to DTC or to another nominee of DTC,
or by the DTC or any such nominee to a successor depositary or to a nominee of such successor
depositary.

          Neither the Trustee nor any agent thereof shall have any responsibility for any actions taken
or not taken by DTC or any successor depositary.

          (l)   Accrual of Interest on the Exchange Note; Exchange of Exchange Notes.

          (1)   Interest on any Exchange Note shall accrue from the dates provided in Exhibit C
for the exchange of the 2016 Notes and from the dates provided in Exhibit D for the exchange
of the 2036 Notes.

          (2)   Subject to Section 2.1(e), upon the occurrence of the Registered Exchange Offer
in accordance with the Registration Rights Agreement, the Company shall issue and, upon
receipt of an authentication order in accordance with Section 2.2, the Trustee shall
authenticate one or more Exchange Global Notes in an aggregate principal amount equal to the
principal amount of the beneficial interests in the Initial Notes of each series or
Additional Notes of each series tendered for acceptance by Persons that certify in the
applicable letters of transmittal that (x) they are not broker-dealers, (y) they are not
participating in a distribution of the Exchange Notes and (z) they are not affiliates (as
defined in Rule 144 under the Securities Act) of the Company, and accepted for exchange in
the exchange offer. Concurrently with the issuance of such Notes, the Trustee shall cause
the aggregate principal amount of the applicable Initial
Notes in the form of Global Notes and/or Additional Notes in the form of Global Notes
to be reduced accordingly.

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          SECTION 2.7.   Form of Certificates to be Delivered in Connection with Transfers Pursuant
to Regulation S and Rule 144A. Attached hereto as Exhibits E and F and Exhibits G
and H are forms of certificates to be delivered in connection with transfers pursuant to
Regulation S and Rule 144A of the Notes of each series, respectively.

          SECTION 2.8.   Business Days. If a payment date is on a date that is not a Business
Day, payment shall be made on the next succeeding day that is a Business Day, and no interest shall
accrue on such payment for the intervening period. If a regular record date is on a day that is
not a Business Day, the record date shall not be affected.

          SECTION 2.9.   Replacement Notes. If a mutilated Note is surrendered to the Registrar
or if the Holder of a Note shall provide the Company and the Trustee with evidence to their
satisfaction that the Note has been lost, destroyed or wrongfully taken, the Company shall issue
and the Trustee shall authenticate a replacement Note of the same series if the requirements of
Section 8-405 of the Uniform Commercial Code are met and the Holder satisfies any other reasonable
requirements of the Trustee. In addition, such Holder shall furnish an indemnity or surety bond
sufficient in the judgment of the Company and the Trustee to protect the Company, the Trustee, the
Paying Agent and the Registrar from any loss which any of them may suffer if a Note is replaced.
The Company and the Trustee may charge the Holder for their expenses in replacing a Note, including
reasonable fees and expenses of counsel. Every replacement Note is an additional obligation of the
Company.

          SECTION 2.10.   Outstanding Notes. Notes of each series outstanding at any time are
all Notes authenticated by the Trustee except for those cancelled, those delivered for cancellation
and those described in this Section 2.10 as not outstanding. A Note does not cease to be
outstanding because the Company or an Affiliate of the Company holds the Note.

          If a Note is replaced pursuant to Section 2.9, it ceases to be outstanding unless the Trustee
and the Company receive proof satisfactory to them that the replaced Note is held by a bona fide
purchaser.

          If the Paying Agent segregates and holds in trust, in accordance with this Indenture, on a
Redemption Date or maturity date money sufficient to pay all principal and interest payable on that
date with respect to the Notes of any series (or portions thereof) to be redeemed or maturing, as
the case may be, then on and after that date such Notes (or portions thereof) cease to be
outstanding and interest on them ceases to accrue.

          SECTION 2.11.   Temporary Notes. Until definitive Notes are ready for delivery, the
Company may prepare and the Trustee shall authenticate and deliver temporary Notes. Temporary
Notes shall be substantially in the form of definitive Notes but may have variations that the
Company considers appropriate for temporary Notes. Without unreasonable delay, the Company shall
prepare and the Trustee shall authenticate and deliver definitive Notes. After the preparation of
definitive Notes, the temporary Notes shall be exchangeable for definitive Notes upon surrender of
the temporary Notes at any office or agency maintained by the Company for

23

 

that purpose and such exchange shall be without charge to the Holder. Upon surrender for
cancellation of any one or more temporary Notes, the Company shall execute, and the Trustee shall
authenticate and deliver in exchange therefor, one or more definitive Notes representing an equal
principal amount of Notes. Until so exchanged, the Holder of temporary Notes shall in all respects
be entitled to the same benefits under this Indenture as a Holder of definitive Notes.

          SECTION 2.12.   Cancellation. The Company at any time may deliver Notes to the
Trustee for cancellation. The Registrar and the Paying Agent shall forward to the Trustee for
cancellation any Notes surrendered to them for registration of transfer or exchange or payment.
The Trustee and no one else shall cancel (subject to the record retention requirements of the
Exchange Act) all Notes surrendered for registration of transfer or exchange, payment or
cancellation and, upon the request of the Company, deliver a certificate of such cancellation to
the Company. The Company may not issue new Notes to replace Notes it has redeemed, paid or
delivered to the Trustee for cancellation, but this shall not prohibit the Company from issuing any
Additional Notes, or any Exchange Notes in exchange for Initial Notes. All cancelled Notes held by
the Trustee may be disposed of by the Trustee in accordance with its then customary practices and
procedures, unless the Company directs otherwise. The Trustee shall provide to the Company a list
of all Notes that have been cancelled from time to time as requested in writing by the Company.

          SECTION 2.13.   Defaulted Interest. If the Company defaults in a payment of interest
on the Notes of any series, the Company shall pay defaulted interest plus interest on such
defaulted interest to the extent lawful at the rate specified therefor in the Notes of such series
in any lawful manner. The Company may pay the defaulted interest to the Persons who are
Noteholders on a subsequent special record date. The Company shall fix or cause to be fixed any
such special record date and payment date to the reasonable satisfaction of the Trustee which
specified record date shall not be less than 10 days prior to the payment date for such defaulted
interest and shall promptly mail or cause to be mailed to each Noteholder a notice that states the
special record date, the payment date and the amount of defaulted interest to be paid. The Company
shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each
Note of the affected series and the date of the proposed payment, and at the same time the Company
shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid
in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for
such deposit prior to the date of the proposed payment, such money when so deposited to be held in
trust for the benefit of the Person entitled to such defaulted interest as provided in this Section
2.13.

          SECTION 2.14.   CUSIP Numbers, etc. The Company in issuing the Notes may use “CUSIP”
or “ISIN” numbers and/or other similar numbers (if then generally in use), and, if so, the Trustee
shall use “CUSIP” and/or “ISIN” numbers in notices of redemption or exchange as a convenience to
Holders; provided, however, that any such notice may state that no representation
is made as to the correctness of such numbers either as printed on the Notes or as contained in any
notice of a redemption or exchange and that reliance may be placed only on the other identification
numbers printed on the Notes, and any such redemption or exchange shall not be affected by any
defect in or omission of such numbers. The Company shall promptly notify the Trustee of any change
in the CUSIP numbers and/or other similar numbers.

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          SECTION 2.15.   Issuance of Additional Notes. The Company shall be entitled to issue,
from time to time, Additional Notes of either series under this Indenture which shall have
identical terms as the Initial Notes of such series issued on the Issue Date or the Exchange Notes
of each series exchanged therefor (in each case, other than with respect to the date of issuance,
issue price and amount of interest payable on the first payment date applicable thereto), as the
case may be.

          With respect to any Additional Notes, the Company shall set forth in a resolution of the Board
of Directors and an Officers’ Certificate, copies of which shall be delivered to the Trustee, the
following information:

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

          (2)   the issue price, the Issue Date and the “CUSIP” and “ISIN” number of any such Additional
Notes and the amount of interest payable on the first payment date applicable thereto;

          (3)   whether such Additional Notes shall be transfer restricted securities and issued in the
form of Initial Notes as set forth in Exhibits A and B to this Indenture or shall be issued in the
form of Exchange Notes as set forth in Exhibits C and D to this Indenture; and

          (4)   if applicable, the resale restriction termination date relating to the Notes and the
Restricted Period for such Additional Notes.

          SECTION 2.16.   One Class of Notes. The Initial Notes of each series, any Additional
Notes of such series of Notes and the Exchange Notes of such series shall vote and consent together
on all matters as one class; and none of the Initial Notes of either series, any Additional Notes
of either series or the Exchange Notes of either series shall have the right to vote or consent as
a separate class on any matter.

ARTICLE III

Redemption; Repayment at Option of Holders

          SECTION 3.1.   Notices to Trustee. If the Company elects to redeem Notes of any
series pursuant to Sections 5 or 6 of the Notes or Section 3.7 of this Indenture, it shall notify
the Trustee in writing of the Redemption Date and the principal amount of Notes to be redeemed.

          The Company shall give each notice to the Trustee provided for in this Section 3.1 at least 30
days before the Redemption Date unless the Trustee consents to a shorter period. Such notice shall
be accompanied by an Officers’ Certificate from the Company to the effect that such redemption
shall comply with the conditions herein. The record date relating to such redemption shall be
selected by the Company and set forth in the related notice given to the Trustee, which record date
shall be not less than 15 days prior to the date selected for redemption by the Company.

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          SECTION 3.2.   Selection of Notes to be Redeemed. If fewer than all the Notes of a
series then outstanding are to be redeemed, the Trustee shall select the Notes of such series to be
redeemed pro rata or by lot or by any other method that complies with applicable legal and
securities exchange requirements, if any, and that the Trustee considers, in its discretion, to be
fair and appropriate in accordance with methods generally used at the time of selection by
fiduciaries in similar circumstances. The Trustee shall make the selection from outstanding Notes
not previously called for redemption. Notes and portions thereof that the Trustee selects shall be
in amounts of $2,000 or integral multiples of $1,000 in excess thereof. Provisions of this
Indenture that apply to Notes called for redemption also apply to portions of Notes called for
redemption. The Trustee shall promptly notify the Company of the Notes or portions of Notes to be
redeemed.

          SECTION 3.3.   Notice of Redemption. At least 30 days but not more than 60 days
before a date for redemption of Notes, the Company shall mail a notice of redemption by first-class
mail to each Holder of Notes to be redeemed at its registered address.

          The notice shall identify the Notes to be redeemed and shall state:

          (1)   the aggregate amount of Notes to be redeemed;

          (2)   the Redemption Date;

          (3)   the redemption price (or the method of calculating such price) and the amount of
accrued interest to be paid, if any;

          (4)   the name and address of the Paying Agent;

          (5)   that Notes called for redemption must be surrendered to the Paying Agent to
collect the redemption price plus accrued and unpaid interest, if any;

          (6)   if fewer than all the outstanding Notes of the affected series are to be
redeemed, the certificate number (if certificated) and principal amounts of the particular
Notes to be redeemed;

          (7)   that, unless the Company defaults in making such redemption payment, interest on
Notes (or portion thereof) called for redemption ceases to accrue on and after the
Redemption Date;

          (8)   the CUSIP number, or any similar number, if any, printed on the Notes being
redeemed; and

          (9)   that no representation is made as to the correctness or accuracy of the CUSIP
number, or any similar number, if any, listed in such notice or printed on the Notes.

          At the Company’s written request (which may be rescinded or revoked at any time prior to the
time at which the Trustee shall have given such notice to the Holders), the Trustee shall give the
notice of redemption in the name of the Company and at the Company’s

26

 

expense. In such event, the Company shall provide the Trustee with the information required
by this Section 3.3 at least 5 Business Days prior to the date chosen for giving such notice to the
Holders (unless the Trustee shall agree to a shorter period). The notice, if mailed in the manner
herein provided, shall be conclusively presumed to have been given, whether or not the Holder
receives such notice. In any case, failure to give such notice by mail or any defect in the notice
to the Holder of any Note designated for redemption as a whole or in part shall not affect the
validity of the proceedings for the redemption of any other Notes.

          SECTION 3.4.   Effect of Notice of Redemption. Once notice of redemption is mailed in
accordance with Section 3.3, Notes called for redemption shall become due and payable on the
Redemption Date and at the redemption price as stated in the notice. Upon surrender to the Paying
Agent on or after the Redemption Date, such Notes shall be paid at the redemption price stated in
the notice, plus accrued and unpaid interest to, but not including, the Redemption Date;
provided, that the Company shall have deposited the redemption price with the Paying Agent
or the Trustee on or before 11:00 a.m. (New York City time) on the date of redemption;
provided further that if the Redemption Date is after a regular record date and on or prior
to the interest payment date, the accrued and unpaid interest shall be payable to the Noteholder of
the redeemed Notes registered on the relevant record date. Failure to give notice or any defect in
the notice to any Holder shall not affect the validity of the notice to any other Holder.

          SECTION 3.5.   Deposit of Redemption Price. By no later than 11:00 a.m. (New York
City time) on the date of redemption, the Company shall deposit with the Paying Agent (or, if the
Company or any of its Subsidiaries is the Paying Agent, shall segregate and hold in trust) an
amount of money sufficient to pay the redemption price of and accrued and unpaid interest on all
Notes to be redeemed on that date other than Notes or portions of Notes called for redemption which
are owned by the Company or a Subsidiary and have been delivered by the Company or such Subsidiary
to the Trustee for cancellation. All money, if any, earned on funds held by the Paying Agent shall
be remitted to the Company. In addition, the Paying Agent shall promptly return to the Company any
money deposited with the Paying Agent by the Company in excess of the amounts necessary to pay the
redemption price of, and accrued interest, if any, on, all Notes to be redeemed.

          Unless the Company defaults in the payment of such redemption price, interest on the Notes or
portions of Notes to be redeemed shall cease to accrue on and after the applicable Redemption Date,
whether or not such Notes are presented for payment.

          SECTION 3.6.   Notes Redeemed in Part. Upon surrender of a Note that is redeemed in
part, the Company shall execute and the Trustee shall authenticate for the Holder thereof (at the
Company’s expense) a new Note of the same series, equal in a principal amount to the unredeemed
portion of the Note surrendered; provided that each new Note shall be in a principal amount
of $2,000 or an integral multiple of $1,000 in excess thereof.

          SECTION 3.7.   Optional Redemption. The Notes are not redeemable at the option of any
Holder thereof, upon the occurrence of any particular event or otherwise, except as provided in
Section 4.4. The 2016 Notes and the 2036 Notes shall be redeemable, in whole or in part, at any
time and from time to time, at the option of the Company, at a redemption price

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equal to the greater of (1) 100% of the principal amount of such Notes and (2) the sum of the
present values of the Remaining Scheduled Payments of principal and interest thereon (exclusive of
interest accrued to the date of redemption) on such series of Notes discounted to the Redemption
Date on a semiannual basis (assuming a 360-day year comprised of twelve 30-day months) at the
Treasury Rate plus 0.25% (25 basis points) in the case of the 2016 Notes and 0.35% (35 basis
points) in the case of the 2036 Notes (in each such case, the “Make-Whole Amount”), plus
accrued interest thereon to, but not including, the Redemption Date. The Notes shall also be
redeemable as provided in Sections 5 and 6 of the Notes.

ARTICLE IV

Covenants

          SECTION 4.1.   Payment of Notes. The Company covenants and agrees that it shall
promptly pay the principal of and interest (including Additional Interest) on the Notes on the
dates and in the manner provided in the Notes and in this Indenture. Principal and interest
(including Additional Interest) shall be considered paid on the date due if, on or before 11:00
a.m. (New York City time) on such date, the Trustee or the Paying Agent (or, if the Company or any
of its Subsidiaries is the Paying Agent, the segregated account or separate trust fund maintained
by the Company or such Subsidiary pursuant to Section 2.4) holds in accordance with this Indenture
money sufficient to pay all principal and interest (including Additional Interest) then due. If
any Additional Interest is due, the Company shall deliver an Officers’ Certificate to the Trustee
setting forth the Additional Interest per $1,000 aggregate principal amount of Notes.

          The Company shall pay interest on overdue principal at the rate specified therefor in the
Notes of each series, and it shall pay interest on overdue installments of interest at the same
rate to the extent lawful as provided in Section 2.13.

          Notwithstanding anything to the contrary contained in this Indenture, the Company or the
Paying Agent may, to the extent it is required to do so by law, deduct or withhold income or other
similar taxes imposed by the United States of America or other domestic or foreign taxing
authorities from principal or interest payments hereunder.

          SECTION 4.2.   Limitations on Liens. (a)  So long as any Notes remain outstanding,
the Company may not directly or indirectly, incur, and will not permit any of its Subsidiaries to,
directly or indirectly, incur any Indebtedness secured by a Lien upon (i) any property or assets
(including Capital Stock) of the Company, or any of its Subsidiaries or (ii) upon any shares of
stock or Indebtedness of any of its Subsidiaries (whether such property, assets, shares of stock or
Indebtedness are now existing or owed or hereafter created or acquired), in any such case unless,
prior to or concurrently with the incurrence of any such secured Indebtedness, or the grant of a
Lien with respect to any such Indebtedness to be so secured, the Notes or, in respect of Liens on
any property or assets of any Subsidiary Guarantor, the Guarantees (together with, if the Company
shall so determine, any other Indebtedness of or Guarantee by the Company, the Subsidiary
Guarantors or any of their respective Subsidiaries ranking equally in right of payment with the
Notes or such Guarantee) shall be secured equally
and ratably with (or, at the Company’s option, prior to) such Indebtedness to be so secured;
provided, however, that the foregoing restrictions shall not apply to:

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               (1) Liens on property, shares of stock or Indebtedness existing with respect to any Person at
the time such Person becomes a Subsidiary of the Company or any of its Subsidiaries,
provided that such Lien was not incurred in anticipation of such Person becoming a
Subsidiary;

               (2) Liens on property, shares of stock or Indebtedness existing at the time of acquisition
thereof by the Company or a Subsidiary of the Company or any of its Subsidiaries of such property,
shares of stock or Indebtedness (which may include property previously leased by the Company or any
of its Subsidiaries and leasehold interests on such property, provided that the lease
terminates prior to or upon the acquisition) or Liens on property, shares of stock or Indebtedness
to secure the payment of all or any part of the purchase price of such property, shares of stock or
Indebtedness, or Liens on property, shares of stock or Indebtedness to secure any Indebtedness for
borrowed money incurred prior to, at the time of, or within 18 months after, the latest of the
acquisition of such property, shares of stock or Indebtedness, 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 of the property, such construction or the making of the improvements;

               (3) Liens securing Indebtedness of the Company or any of the Company’s Subsidiaries owing to
the Company or any of its Subsidiaries;

               (4) Liens existing on the Issue Date;

               (5) Liens on property or assets of a Person existing at the time such Person is merged into
or consolidated with the Company or any of its Subsidiaries, at the time such Person becomes a
Subsidiary of the Company or at the time of a sale, lease or other disposition of all or
substantially all of the properties or assets of a Person to the Company or any of its
Subsidiaries; provided that such Lien was not incurred in anticipation of such merger,
consolidation, or sale, lease or other disposition or other transaction;

               (6) Liens created in connection with a project financed with, and created to secure, a
Non-recourse Obligation;

               (7) Liens securing all of the Notes or the Guarantees and any Liens that secure debt under
the Credit Agreement and the Private Notes equally and ratably with Liens securing the Notes;

               (8) Liens imposed by law, such as carriers’, warehousemen’s and mechanic’s Liens and other
similar Liens, in each case for sums not yet overdue by more than 30 calendar days or being
contested in good faith by appropriate proceedings or other Liens arising out of judgments or
awards against such Person with respect to which such Person shall then be proceeding with an
appeal or other proceedings for review and Liens arising solely by virtue of any statutory or
common law provision relating to banker’s Liens, rights of set-off or similar rights and remedies
as to deposit accounts or other funds maintained with a creditor depository institution;

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               (9) Liens for taxes, assessments or other governmental charges not yet due or payable or
subject to penalties for non-payment or which are being contested in good faith by appropriate
proceedings;

               (10) Liens to secure the performance of bids, trade contracts, leases, statutory obligations,
surety and appeal bonds, performance bonds and other obligations of a like nature, in each case in
the ordinary course of business; or

               (11) any extension, renewal or replacement (or successive extensions, renewals or
replacements), in whole or in part, of any Lien referred to in the foregoing clauses (1) to (10),
inclusive, without increase of the principal of the Indebtedness secured by such Lien;
provided, however, that any Liens permitted by any of the foregoing clauses (1) to (10),
inclusive, shall not extend to or cover any property of the Company or any of its Subsidiaries, as
the case may be, other than the property specified in such clauses and improvements to such
property.

          (b) Notwithstanding the foregoing provisions of this Section 4.2, the Company and its
Subsidiaries may (i) incur Indebtedness secured by Liens which would otherwise be subject to the
foregoing restrictions without equally and ratably securing the Notes, or in respect of Liens on
any Subsidiary Guarantor’s property or assets, the Guarantee of such Subsidiary Guarantor;
provided that after giving effect to such Indebtedness, the aggregate amount of all
Indebtedness so secured by Liens (not including Liens permitted under clauses (1) through (11)
above), together with all Attributable Debt outstanding pursuant to Section 4.3(b) does not exceed
15% of the Consolidated Net Tangible Assets of the Company calculated as of the date of the
creation or incurrence of the Lien. The Company and its Subsidiaries also may, without equally and
ratably securing the Notes, create or incur Liens that extend, renew, substitute or replace
(including successive extensions, renewals, substitutions or replacements), in whole or in part,
any Lien permitted pursuant to the preceding sentence.

          SECTION 4.3.   Limitation on Sale and Leaseback Transactions.

          (a)   The Company shall not directly or indirectly, and shall not permit any of its
Subsidiaries directly or indirectly to, enter into any sale and leaseback transaction for the sale
and leasing back of any property, whether now owned or hereafter acquired, unless:

          (1)   such transaction was entered into prior to the Issue Date;

          (2)   such transaction was for the sale and leasing back to the Company of any property
by one of the Company’s Subsidiaries;

          (3)   such transaction involves a lease for not more than three years (or which may be
terminated by the Company or such Subsidiary within a period of not more than three years);

          (4)   the Company or such Subsidiary would be entitled to incur Indebtedness secured by
a Lien with respect to such sale and leaseback transaction without equally and ratably
securing the notes pursuant to clauses (1) through (11) of Section 4.2(a); or

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          (5)   the Company or any Subsidiary of the Company applies an amount equal to the net
proceeds from the sale of such property to the purchase of other property or assets used or
useful in the business of the Company or of any of its Subsidiaries or to the retirement of
long-term Indebtedness within 365 days before or after the effective date of any such sale
and leaseback transaction; provided that, in lieu of applying such amount to the
retirement of long-term Indebtedness, the Company may deliver Notes to the Trustee for
cancellation, such Notes to be credited at the cost thereof to the Company.

          (b)   Notwithstanding the restrictions set forth in Section 4.3(a), the Company and its
Subsidiaries may enter into any sale and leaseback transaction which would otherwise be subject to
the foregoing restrictions, if after giving effect thereto the aggregate amount of all Attributable
Debt outstanding with respect to such transactions, together with all Indebtedness outstanding
pursuant to Section 4.2(b), does not exceed 15% of the Consolidated Net Tangible Assets of the
Company calculated as of the closing date of the sale and leaseback transaction.

          SECTION 4.4.   Change of Control Repurchase Event. Upon the occurrence of a Change of
Control Repurchase Event, the Company shall be required to make an offer to each Holder to
repurchase all or any part (in excess of $2,000 and in integral multiples of $1,000) of such
Holder’s Notes at a purchase price in cash equal to 101% of the principal amount thereof on the
date of purchase plus accrued and unpaid interest to, but not including, the date of purchase, in
accordance with the terms contemplated in this Section 4.4.

          (a)   Within 30 calendar days following any Change of Control Repurchase Event or, at the
option of the Company, prior to any Change of Control, but after the public announcement of the
Change of Control, the Company will mail a notice to each Holder, with a copy to the Trustee, (the
“Change of Control Offer”) stating:

   (1)   that a Change of Control has occurred or is about to occur and that such Holder
has the right to require the Company to purchase such Holder’s Notes at a purchase price in
cash equal to 101% of the principal amount thereof on the date of purchase, plus accrued and
unpaid interest to, but not including, the date of purchase (subject to the right of Holders
of record on the relevant record date to receive interest on the relevant interest payment
date);

   (2)   the circumstances and relevant facts regarding such Change of Control Repurchase
Event or, if the Change of Control is about to occur, the circumstances and relevant facts
regarding such Change of Control;

   (3)   the purchase date (which shall be no earlier than 30 calendar days nor later than
60 calendar days from the date such notice is mailed);

   (4)   the instructions, as determined by the Company, consistent with this Section 4.4,
that a Holder must follow in order to have its Notes purchased; and

   (5)   that the offer to purchase is conditioned on the Change of Control Repurchase
Event occurring on or prior to the specified purchase date, if mailed prior to the date of
consummation of the Change of Control.

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          (b)   On the purchase date following a Change of Control Repurchase Event, the Company will,
to the extent lawful:

   (1)   accept for payment all the Notes or portions of the Notes properly tendered
pursuant to its offer;

   (2)   deposit with the Paying Agent an amount equal to the aggregate purchase price in
respect of all the Notes or portions of the Notes properly tendered; and

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

          (c)   The Paying Agent will promptly mail to each holder of Notes properly tendered the
purchase price for the Notes, and the Trustee will promptly authenticate and mail (or cause to be
transferred by book-entry) to each holder a new Note of the relevant series equal in principal
amount to any unpurchased portion of any Notes surrendered.

          (d)   Notwithstanding the foregoing provisions of this Section 4.4, the Company shall not be
required to make a Change of Control Offer following a Change of Control Repurchase Event with
respect to a particular series of Notes, if, with respect to such series of Notes, a third party
makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the
requirements set forth in this Section 4.4 applicable to a Change of Control Offer made by the
Company and purchases all Notes of such series properly tendered and not withdrawn under such
Change of Control Offer.

          (e)   The Company shall comply, to the extent applicable, with the requirements of Section
14(e)(1) of the Exchange Act and any other securities laws or regulations thereunder to the extent
those laws and regulations are applicable in connection with the repurchase of the Notes as a
result of a Change of Control Repurchase Event. To the extent that the provisions of any securities
laws or regulations conflict with provisions of this Section 4.4, the Company shall comply with the
applicable securities laws and regulations and shall not be deemed to have breached its obligations
under this Section 4.4 by virtue of such conflict.

          SECTION 4.5.   Compliance Certificate. The Company will deliver to the Trustee,
within 120 days after the end of each fiscal year of the Company ending after the date hereof, an
Officers’ Certificate signed by its principal executive officer, principal financial officer or
principal accounting officer which shall comply with the provisions of Section 314 of the Trust
Indenture Act, stating whether or not to the knowledge of the signers thereof any Default in the
performance and observance of any of the terms, provisions and conditions of this Indenture
(without regard to any period of grace or requirement of notice provided hereunder) occurred during
the previous fiscal year, specifying all such Defaults and the nature and status thereof of which
they may have knowledge.

          SECTION 4.6.   Maintenance of Office or Agency. The Company shall maintain the office
or agency required under Section 2.3. The Company shall give prior written notice to the Trustee
of the location, and any change in the location, of such office or agency. If at any time the
Company shall fail to maintain any such required office or agency or shall fail to furnish
the Trustee with the address thereof, such presentations, surrenders, notices and demands may
be made or served at the address of the Trustee set forth in Section 11.2.

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          SECTION 4.7.   Existence. Except as otherwise permitted by Article V, the Company
shall do or cause to be done all things necessary to preserve and keep in full force and effect its
existence as a corporation or other Person.

          SECTION 4.8.   SEC Reports. At any time that the Company is subject to the reporting
requirements of Section 13 or 15(d) of the Exchange Act, so long as any Notes are outstanding, the
Company shall furnish to the Trustee and make available on its website copies of such annual and
quarterly reports and such information, documents and other reports as are required under Sections
13 and 15(d) of the Exchange Act and applicable to a U.S. corporation (and not a foreign private
issuer) subject to such provisions, within 15 days after the date specified for the filing with the
SEC of such information, documents and reports under such Sections (it being understood that the
filing of such reports with the SEC shall be deemed to constitute the furnishing of such reports to
the Trustee). If at any time the Company is not subject to Section 13 or 15(d) of the Exchange Act,
the Company will furnish to Holders and prospective investors, upon their request, the information
specified in Rule 144A(d)(4) under the Securities Act.

ARTICLE V

Consolidation, Merger and Sale of Assets

          SECTION 5.1.   When the Company or a Subsidiary Guarantor May Merge or Transfer
Assets. Neither of the Company nor any Subsidiary Guarantor will consolidate with or sell,
lease or convey all or substantially all of its properties or assets to, or merge with or into, in
one transaction or a series of related transactions, any other Person, unless:

          (1)   the Company, or in the case of a Subsidiary Guarantor, the Company or such Subsidiary
Guarantor, shall be the continuing entity, or the resulting, surviving or transferee Person (the
“Successor”) shall be a corporation or limited liability company organized and existing
under the laws of the United States of America, any State thereof or the District of Columbia and
the Successor (if not the Company or such Subsidiary Guarantor, as the case may be) shall expressly
assume, by supplemental indenture, executed and delivered to the Trustee, in form satisfactory to
the Trustee, all the obligations of the Company or such Subsidiary Guarantor, as the case may be,
under the Notes, this Indenture and any Guarantee, as applicable (provided, that such
Successor shall not be required to assume the obligations of any such Subsidiary Guarantor if such
Successor would not, after giving effect to such transaction, be required to guarantee the Notes
under the provisions of Article X);

          (2)   immediately after giving effect to such transaction, no Default or Event of Default
shall have occurred and be continuing;

          (3)   the Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion
of Counsel, each stating that such consolidation, merger or transfer and such supplemental
indenture (if any) comply with clauses (1) and (2) above and that such
supplemental indenture constitutes the legal valid and binding obligation of the Successor
subject to customary exceptions.

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          SECTION 5.2.   Successor Person Substituted. The Successor will succeed to, and be
substituted for, and may exercise every right and power of, the Company or such Subsidiary
Guarantor, as the case may be, under the Indenture. The Company or such Subsidiary Guarantor shall
be relieved of all obligations and covenants under the Notes of each series, the Guarantees, as the
case may be, and the Indenture to the extent the Company or such Subsidiary Guarantor was the
predecessor Person, provided, that in the case of a lease of all or substantially all of
the Company’s assets, the Company will not be released from the obligation to pay the principal of
and interest on the Notes. Notwithstanding any provision to the contrary, the restrictions
contained in this Article V shall cease to apply to any Subsidiary Guarantor immediately upon any
merger or consolidation of such Subsidiary Guarantor into the Company or any other Subsidiary
Guarantor in accordance with this Article V or upon any other termination of the Guarantees of that
Subsidiary Guarantor in accordance with this Indenture.

ARTICLE VI

Defaults and Remedies

          SECTION 6.1.   Events of Default. An “Event of Default” occurs with respect to a
series of Notes if:

          (1)   a Default in any payment of interest (including Additional Interest) on any Note
of such series when the same becomes due and payable occurs, and such default continues for
a period of 30 days;

          (2)   a Default in the payment of the principal of any Note of such series when the
same becomes due and payable at its Stated Maturity occurs, upon optional redemption or
otherwise;

          (3)   the Company fails to repurchase Notes of such series tendered for repurchase
following the occurrence of a Change of Control Repurchase Event in conformity with the
covenant set forth under Section 4.4;

          (4)   the Company or any Subsidiary Guarantor fails to comply with any of its
agreements in the relevant series of Notes or this Indenture (other than those referred to
in (1) or (2) above) and such failure continues for 90 days after the notice specified
below;

          (5)   the Company fails to make any payment at maturity, including any applicable grace
period, on any Indebtedness of the Company or any of its Subsidiary Guarantors (other than
Indebtedness of the Company or of a Subsidiary owing to the Company or any of its
Subsidiaries) outstanding in an amount in excess of $30,000,000 and continuance of this
failure to pay or the equivalent thereof in any other currency or composite currency shall
have continued for 30 days after written notice specified below; provided,
however, that if any such failure shall cease, or be cured, waived, rescinded or
annulled, then the Event of Default by reason thereof shall be deemed likewise to have
been cured;

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          (6)   a Default on any Indebtedness of the Company or any of its Subsidiary Guarantors
(other than Indebtedness owing to the Company or any of its Subsidiaries) occurs, which
Default results in the acceleration of such Indebtedness in an amount in excess of
$30,000,000 or the equivalent thereof in any other currency or composite currency without
such Indebtedness having been discharged or such acceleration having been cured, waived,
rescinded or annulled for a period of 30 days after written notice specified below;
provided, however, that if any such Default or acceleration shall be cured,
waived, rescinded or annulled then the Event of Default by reason thereof shall be deemed
likewise to have been cured;

          (7)   the Company or any Subsidiary Guarantor pursuant to or within the meaning of any
Bankruptcy Law:

     (A)   commences a voluntary case;

     (B)   consents to the entry of an order for relief against it in an
involuntary case in which it is the debtor;

     (C)   consents to the appointment of a Custodian of it or for any
substantial part of its property; or

     (D)   makes a general assignment for the benefit of its creditors;

     or takes any comparable action under any foreign laws relating to
insolvency;

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

     (A)   is for relief against the Company or any Subsidiary Guarantor in
an involuntary case;

     (B)   appoints a Custodian of the Company or for any substantial part
of the property of the Company or any Subsidiary Guarantor; or

     (C)   orders the winding up or liquidation of the Company or any
Subsidiary Guarantor;

          (or any similar relief is granted under any foreign laws) and the order, decree or
relief remains unstayed and in effect for 60 consecutive days; or

          (9)   the Guarantee of any Subsidiary Guarantors ceases to be in full force and effect
during its term or such Subsidiary Guarantor denies or disaffirms in writing its obligations
under the terms of this Indenture or its Guarantee, in each case, other than any
such cessation, denial or disaffirmation in connection with the termination of such
Guarantee pursuant to the provisions of Article X.

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          An Event of Default under one series of Notes does not necessarily constitute an Event of
Default under any other series of Notes. The foregoing will constitute Events of Default whatever
the reason for any such Event of Default and whether it is voluntary or involuntary or is effected
by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or
regulation of any administrative or governmental body.

          The term “Bankruptcy Law” means Title 11, United States Code, or any similar Federal
or state law for the relief of debtors. The term “Custodian” means any receiver, trustee,
assignee, liquidator, custodian or similar official under any Bankruptcy Law.

          A Default with respect to Notes of a series under clauses (4), (5) or (6) of this Section 6.1
is not an Event of Default until the Trustee (by notice to the Company) or the Holders of at least
25% in aggregate principal amount of the outstanding Notes of such series (by notice to the Company
and the Trustee) gives notice of the Default and the Company does not cure such Default within the
time specified in said clause (4), (5) or (6) after receipt of such notice. Such notice must
specify the Default, demand that it be remedied and state that such notice is a “Notice of
Default”.

          The Company shall deliver to the Trustee, within 30 days after the occurrence thereof, written
notice in the form of an Officers’ Certificate of any event which with the giving of notice or the
lapse of time would become an Event of Default under clause (4), (5) or (6) of this Section 6.1,
its status and what action the Company is taking or proposes to take with respect thereto.

          SECTION 6.2.   Acceleration. If an Event of Default with respect to Notes of a series
(other than an Event of Default specified in Section 6.1(7) or (8) with respect to the Company)
occurs and is continuing, the Trustee by notice to the Company, or the Holders of at least 25% in
aggregate principal amount of the outstanding Notes by notice to the Company and the Trustee, may,
and the Trustee at the request of such Holders, shall, declare the principal of and accrued but
unpaid interest on all the Notes of such series to be due and payable. Upon such a declaration,
such principal and accrued and unpaid interest shall be due and payable immediately. If an Event
of Default specified in Section 6.1(7) or (8) with respect to the Company occurs and is continuing,
the principal of and accrued and unpaid interest on all Notes shall ipso facto become and be
immediately due and payable without any declaration or other act on the part of the Trustee or any
Holders. The Holders of a majority in aggregate principal amount of the outstanding Notes of a
series by notice to the Trustee may rescind an acceleration and its consequences if all existing
Events of Default with respect to Notes of such series have been cured or waived except nonpayment
of principal or interest that has become due solely because of such acceleration. No such
rescission shall affect any subsequent Default or impair any right consequent thereto.

          SECTION 6.3.   Other Remedies. If an Event of Default with respect to a series of
Notes occurs and is continuing, the Trustee, in conformity with its duties under this Indenture,
will exercise all rights or powers under this Indenture at the request or direction of any Holders,
provided, that the Holders provide the Trustee with a reasonable indemnity or security
against any loss, liability or expense.

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          The Trustee may maintain a proceeding even if it does not possess any of the Notes or does not
produce any of them in the proceeding. A delay or omission by the Trustee or any Noteholder in
exercising any right or remedy accruing upon an Event of Default shall not impair the right or
remedy or constitute a waiver of or acquiescence in the Event of Default. No remedy is exclusive
of any other remedy. All available remedies are, to the extent permitted by law, cumulative.

          SECTION 6.4.   Waiver of Past Defaults. The Holders of a majority in aggregate
principal amount of the Notes of a series then outstanding by notice to the Trustee may, on behalf
of the Holders of the Notes of such series, waive any past or existing Default and its consequences
except (1) a Default in the payment of the principal of or interest on a Note or (2) a Default in
respect of a provision that under Section 9.2 cannot be amended without the consent of each
Noteholder affected. When a Default is waived, it is deemed cured, and any Event of Default
arising therefrom shall be deemed to have been cured, for every purpose of this Indenture, but no
such waiver shall extend to any subsequent or other Default or impair any consequent right.

          SECTION 6.5.   Control by Majority. Upon provision of security or indemnity
satisfactory to the Trustee, the Holders of a majority in aggregate principal amount of the Notes
of each series then outstanding may direct the time, method and place of conducting any proceeding
for any remedy available to the Trustee with respect to the Notes of such series or of exercising
any trust or power conferred on the Trustee. However, the Trustee, which may conclusively rely on
opinions of counsel, may refuse to follow any direction that conflicts with law or this Indenture
or that the Trustee determines is unduly prejudicial to the rights of other Noteholders or would
involve the Trustee in personal liability; provided, however, that the Trustee may
take any other action deemed proper by the Trustee that is not inconsistent with such direction.

          SECTION 6.6.   Limitation on Suits. Except to enforce the right to receive payment of
principal, premium, if any, or interest when due, a Holder of Notes may not pursue any remedy with
respect to this Indenture or the Notes unless:

          (1)   An Event of Default shall have occurred and be continuing with respect to the
relevant series of Notes and the Holder gives to the Trustee prior written notice stating
that an Event of Default is continuing;

          (2)   the Holders of at least 25% in aggregate principal amount of the relevant series
of Notes then outstanding make a written request to the Trustee to pursue the remedy;

          (3)   such Holder or Holders offer to the Trustee indemnity satisfactory to it against
any costs, liabilities or expenses in compliance with such request;

          (4)   the Trustee does not comply with the request within 60 days after receipt of the
request and the offer of security or indemnity; and

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          (5)   the Holders of a majority in aggregate principal amount of the relevant series of
Notes then outstanding do not give the Trustee a direction inconsistent with the request
during such 60-day period.

          A Noteholder may not use this Indenture to prejudice the rights of another Noteholder or to
obtain a preference or priority over another Noteholder of the relevant series (it being understood
that the Trustee shall not have an affirmative duty to ascertain whether or not such actions or
forbearances are unduly prejudicial to such Noteholders).

          SECTION 6.7.   Rights of Holders to Receive Payment. Notwithstanding any other
provision of this Indenture, the right of any Holder to receive payment of principal of and
interest on the relevant series of the Notes held by such Holder, on or after the respective due
dates expressed in such Notes, or to bring suit for the enforcement of any such payment on or after
such respective dates, shall not be impaired or affected without the consent of such Holder.

          SECTION 6.8.   Collection Suit by Trustee. If an Event of Default specified in
Section 6.1(1) or (2) occurs and is continuing, the Trustee may recover judgment in its own name
and as trustee of an express trust against the Company for the whole amount then due and owing
(together with interest on any unpaid interest to the extent lawful) and the amounts provided for
in Section 7.7.

          SECTION 6.9.   Trustee May File Proofs of Claim. The Trustee may file such proofs of
claim and other papers or documents as may be necessary or advisable in order to have the claims of
the Trustee (including any claim for the reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel) and the Noteholders allowed in any judicial
proceedings relative to the Company, its creditors or any other obligor upon the Notes, or any of
their creditors or the property of the Company or such other obligor or their creditors and, unless
prohibited by law or applicable regulations, may vote on behalf of the Holders in any election of a
trustee in bankruptcy or other Person performing similar functions, and any Custodian in any such
judicial proceeding is hereby authorized by each Holder to make payments to the Trustee and, in the
event that the Trustee shall consent to the making of such payments directly to the Holders, to pay
to the Trustee any amount due it for the reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents and its counsel, and any other amounts due the Trustee under
Section 7.7.

          SECTION 6.10.   Priorities. Any money or other property collected by the Trustee
pursuant to Article VI hereof, or any money or other property otherwise distributable in respect of
the Company’s obligations under this Indenture, shall be applied in the following order:

     FIRST: to the Trustee (including any predecessor Trustee) for amounts due under
Section 7.7;

     SECOND: to Noteholders for amounts due and unpaid on the Notes for principal and
interest, ratably, without preference or priority of any kind, according to the amounts due
and payable on the relevant series of the Notes for principal and interest, respectively;
and

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     THIRD: to the Company.

          The Trustee may, upon prior written notice to the Company, fix a record date and payment date
for any payment to Noteholders pursuant to this Section 6.10. At least 15 days before such record
date, the Company shall mail to each Noteholder and the Trustee a notice that states the record
date, the payment date and amount to be paid.

          SECTION 6.11.   Undertaking for Costs. In any suit for the enforcement of any right
or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted
by it as Trustee, a court in its discretion may require the filing by any party litigant in the
suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess
reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in
the suit, having due regard to the merits and good faith of the claims or defenses made by the
party litigant. This Section 6.11 does not apply to a suit by the Trustee, a suit by a Holder
pursuant to Section 6.7 or a suit by Holders of more than 10% in aggregate principal amount of the
outstanding Notes of a series.

          SECTION 6.12.   Waiver of Stay or Extension Laws. The Company (to the extent it may
lawfully do so) shall not at any time insist upon, or plead, or in any manner whatsoever claim or
take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time
hereafter in force, which may affect the covenants or the performance of this Indenture; and the
Company (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage
of any such law, and shall not hinder, delay or impede the execution of any power herein granted to
the Trustee, but shall suffer and permit the execution of every such power as though no such law
had been enacted.

ARTICLE VII

Trustee

          SECTION 7.1.   Duties of Trustee.

          (a)   If an Event of Default has occurred and is continuing, the Trustee shall exercise the
rights and powers vested in it by this Indenture and use the same degree of care and skill in its
exercise as a prudent Person would exercise or use under the circumstances in the conduct of such
Person’s own affairs.

          (b)   Except during the continuance of an Event of Default:

          (1)   the Trustee undertakes to perform such duties and only such duties as are
specifically set forth in this Indenture and no implied covenants or obligations shall be
read into this Indenture against the Trustee; and

          (2)   in the absence of bad faith on its part, the Trustee may conclusively rely, as to
the truth of the statements and the correctness of the opinions expressed therein, upon
Officers’ Certificates and Opinions of Counsel furnished to the Trustee and conforming to
the requirements of this Indenture. However, in the case of any such

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Officers’ Certificates and Opinions of Counsel which by any provision hereof are
specifically required to be furnished to the Trustee, the Trustee shall examine such
Officers’ Certificates and Opinions of Counsel to determine whether or not they conform to
the requirements of this Indenture.

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

          (1)   this subsection does not limit the effect of subsections (b) or (f) of this
Section 7.1;

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

          (3)   the Trustee shall not be liable with respect to any action it takes or omits to
take in good faith in accordance with a direction received by it pursuant to Section 6.5.

          (d)   Every provision of this Indenture that in any way relates to the Trustee is subject to
subsections (a), (b), (c) and (f) of this Section 7.1.

          (e)   The Trustee shall not be liable for interest on any money or other property received by
it or for holding moneys or other property uninvested, in either case, except as otherwise agreed
between the Company and the Trustee. Money and other property held in trust by the Trustee shall,
until used or applied as herein provided, be held in trust for the purposes for which they were
received, but need not be segregated from other money or property except to the extent required by
law.

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

          (g)   Every provision of this Indenture relating to the conduct or affecting the liability of
or affording protection to the Trustee shall be subject to the provisions of this Section 7.1 and
to the provisions of the Trust Indenture Act, where applicable.

          SECTION 7.2.   Rights of Trustee.

          (a)   The Trustee may conclusively rely on, and shall be protected in acting or refraining
from acting in reliance on, any document believed by it to be genuine and to have been signed or
presented by the proper person. The Trustee need not investigate any fact or matter stated in the
document.

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          (b)   Before the Trustee acts or refrains from acting, it may require an Officers’ Certificate
or an Opinion of Counsel, or both. The Trustee shall not be liable for any action it takes or
omits to take in good faith in reliance on the Officers’ Certificate or Opinion of Counsel.

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

          (d)   The Trustee shall not be liable for any action it takes, suffers to exist or omits to
take in good faith which it believes to be authorized or within its rights or powers;
provided, however, that the Trustee’s conduct does not constitute willful
misconduct, bad faith or negligence.

          (e)   The Trustee may consult with counsel of its selection, and the advice or opinion of
counsel with respect to legal matters relating to this Indenture and the Notes shall be full and
complete authorization and protection from liability in respect to any action taken, omitted or
suffered by it hereunder in good faith and in reliance thereon.

          (f)   The Trustee shall be under no obligation to exercise any of the rights or powers vested
in it by this Indenture at the request or direction of any of the Holders pursuant to this
Indenture, unless such Holders shall have offered to the Trustee security or indemnity satisfactory
to it against the costs, expenses and liabilities which might be incurred by it in compliance with
such request or direction.

          (g)   The Trustee shall not be charged with knowledge of any Default or Event of Default with
respect to the Notes unless either (1) a Trust Officer shall have actual knowledge of such Default
or Event of Default or (2) written notice of such Default or Event of Default shall have been given
to a Trust Officer of the Trustee at the Corporate Trust Office by the Company or any other obligor
on the Notes or by any Holder of the Notes. Any such notice shall reference this Indenture and the
Notes.

          (h)   The rights, privileges, protections, immunities and benefits given to the Trustee
pursuant to this Indenture, including its rights to be indemnified, are extended to, and shall be
enforceable by, the Trustee in each of its capacities as Registrar and Paying Agent, as the case
may be, hereunder.

          (i)   The Trustee shall not be bound to make any investigation into the facts or matters
stated in any resolution, certificate, statement, instrument, opinion, report, notice, request,
direction, consent, order, bond, debenture, note, other evidence of Indebtedness or other paper or
document, but the Trustee, in its discretion, may make such further reasonable inquiry or
reasonable investigation into such facts or matters as it may see fit, and, if the Trustee shall
determine to make such further inquiry or investigation, it shall be entitled, upon reasonable
notice and at reasonable times, to examine the books, records and premises of the Company,
personally or by agent or attorney at the sole cost of the Company and shall incur no liability or
additional liability of any kind by reason of such inquiry or investigation.

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          (j)   The Trustee may request that the Company deliver a certificate, substantially in the
form of Exhibit I hereto, setting forth the names of individuals and/or titles of Officers
authorized at such time to take specified actions pursuant to this Indenture.

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

          SECTION 7.3.   Individual Rights of Trustee. The Trustee in its individual or any
other capacity may become the owner or pledgee of Notes and may otherwise deal with the Company
with the same rights it would have if it were not Trustee. Any Paying Agent, Registrar or
co-paying agent may do the same with like rights. However, the Trustee must comply with Sections
7.10 and 7.11.

          SECTION 7.4.   Trustee’s Disclaimer. The Trustee shall not be responsible for and
makes no representation as to the validity or adequacy of this Indenture or the Notes, it shall not
be accountable for the Company’s use of the proceeds from the Notes, and it shall not be
responsible for any statement of the Company in this Indenture or in any document issued in
connection with the sale of the Notes or in the Notes other than the Trustee’s certificate of
authentication.

          SECTION 7.5.   Notice of Defaults. If a Default or an Event of Default occurs with
respect to the Notes and is continuing and if it is actually known to the Trustee, the Trustee
shall mail to each Noteholder notice of the Default within 90 days after it is known to a Trust
Officer or written notice of it is received by a Trust Officer of the Trustee. Except in the case
of a Default in payment of principal of or interest on any Note, the Trustee may withhold the
notice if and so long as a committee of its Trust Officers in good faith determines that
withholding the notice is not opposed to the interests of Noteholders.

          SECTION 7.6.   Reports by Trustee to Holders. As promptly as practicable after each
May 15 beginning with the May 15 following the date of this Indenture, and in any event prior to
July 15 in each year, the Trustee shall mail to each Noteholder a brief report dated as of such May
15 that complies with Section 313(a) of the Trust Indenture Act. The Trustee also shall comply
with Section 313(b) of the Trust Indenture Act. The Trustee shall promptly deliver to the Company a
copy of any report it delivers to Holders pursuant to this Section 7.6.

          A copy of each report at the time of its mailing to Noteholders shall be filed by the Trustee
with the SEC and each stock exchange (if any) on which the Notes are listed. The Company agrees to
notify promptly the Trustee in writing whenever the Notes become listed on any stock exchange and
of any delisting thereof.

          SECTION 7.7.   Compensation and Indemnity. Each of the Subsidiary Guarantors and the
Company, jointly and severally, covenants and agrees to pay to the Trustee (and any predecessor
Trustee) from time to time such reasonable compensation for its services as the Company and the
Trustee shall from time to time agree in writing. The Trustee’s compensation shall not be limited
by any law on compensation of a trustee of an express trust.

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The Company shall reimburse the Trustee upon request for all reasonable out-of-pocket expenses
(including attorneys’ fees and expenses), disbursements and advances incurred or made by it in
accordance with the provisions of this Indenture, including costs of collection, in addition to
such compensation for its services, except any such expense, disbursement or advance as shall be
determined to have been caused by its own negligence, willful misconduct or bad faith. Such
expenses shall include the reasonable compensation and expenses, disbursements and advances of the
Trustee’s agents and counsel. The Trustee shall provide the Company reasonable notice of any
expenditure not in the ordinary course of business. The Company shall indemnify each of the
Trustee, its officers, directors, employees and any predecessor Trustees against any and all loss,
damage, claim, liability or expense (including reasonable attorneys’ fees and expenses) (other than
taxes applicable to the Trustee’s compensation hereunder) incurred by it in connection with the
acceptance or administration of this trust and the performance of its duties hereunder. The
Trustee shall notify the Company promptly of any claim of which a Trust Officer has received
written notice and for which it may seek indemnity. Failure by the Trustee so to notify the
Company shall not relieve the Company of its obligations hereunder, except to the extent that the
Company has been prejudiced by such failure. The Company shall defend the claim and the Trustee
shall cooperate, to the extent reasonable, in the defense of any such claim, and, if (in the
opinion of counsel to the Trustee) the facts and/or issues surrounding the claim are reasonably
likely to create a conflict with the Company, the Company shall pay the reasonable fees and
expenses of separate counsel to the Trustee. The Company need not reimburse any expense or
indemnify against any loss, liability or expense incurred by the Trustee through the Trustee’s own
willful misconduct, negligence or bad faith. The Company need not pay for any settlement made
without its consent, which consent shall not be unreasonably withheld or delayed.

          To secure the Company’s payment obligations in this Section 7.7, the Trustee (including any
predecessor trustee) shall have a Lien prior to the Notes on all money or property held or
collected by the Trustee other than money or property held in trust to pay principal of and
interest on particular Notes.

          The Company’s payment obligations pursuant to this Section 7.7 shall survive the satisfaction,
discharge and termination of this Indenture, the resignation or removal of the Trustee and any
discharge of this Indenture including any discharge under any bankruptcy law. In addition to and
without prejudice to the rights provided to the Trustee under any of the provisions of this
Indenture, when the Trustee incurs expenses or renders services after the occurrence of a Default
specified in Section 6.1(7) or (8) with respect to the Company, the expenses and the compensation
for the services are intended to constitute expenses of administration under the Bankruptcy Law.

          SECTION 7.8.   Replacement of Trustee. The Trustee may resign at any time upon 30
days’ written notice to the Company. The Holders of a majority in principal amount of the Notes
then outstanding, may remove the Trustee upon 30 days’ written notice to the Trustee and may
appoint a successor Trustee, which successor Trustee shall be reasonably acceptable to the Company.
The Company shall remove the Trustee if:

          (1)   the Trustee fails to comply with Section 7.10;

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          (2)   the Trustee is adjudged bankrupt or insolvent;

          (3)   a receiver or other public officer takes charge of the Trustee or its property;
or

          (4)   the Trustee otherwise becomes incapable of acting.

          If the Trustee resigns, is removed by the Company or by the Holders of a majority in principal
amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if
a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred
to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee.

          A successor Trustee shall deliver a written acceptance of its appointment to the retiring
Trustee and to the Company and the Company shall pay all amounts due and owing to the Trustee under
Section 7.7 of the Indenture. Thereupon the resignation or removal of the retiring Trustee shall
become effective, and the successor Trustee shall have all the rights, powers and duties of the
Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to
Noteholders affected by such resignation or removal. The retiring Trustee shall promptly transfer
all property held by it as Trustee to the successor Trustee, subject to the Lien provided for in
Section 7.7.

          If a successor Trustee does not take office with respect to the Notes within 30 days after the
retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal
amount of the Notes may petition at the expense of the Company any court of competent jurisdiction
for the appointment of a successor Trustee.

          If the Trustee fails to comply with Section 7.10, any Noteholder may petition any court of
competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee.

          Notwithstanding the replacement of the Trustee pursuant to this Section 7.8, the Company’s
obligations under Section 7.7 shall continue for the benefit of the retiring Trustee.

          SECTION 7.9.   Successor Trustee by Merger. If the Trustee consolidates with, merges
or converts into, or transfers all or substantially all its corporate trust business or assets to,
another corporation or banking association, the resulting, surviving or transferee corporation
without any further act shall be the successor Trustee; provided that such corporation
shall be otherwise qualified and eligible under this Article VII and Section 310(a) of the Trust
Indenture Act, without the execution or filing of any paper or any further act on the part of the
parties hereto.

          In case at the time such successor or successors by merger, conversion or consolidation to the
Trustee shall succeed to the trusts created by this Indenture any of the Notes shall have been
authenticated but not delivered, any such successor to the Trustee may adopt the certificate of
authentication of any predecessor trustee, and deliver such Notes so authenticated; and in case at
that time any of the Notes shall not have been authenticated, any successor to the Trustee may
authenticate such Notes either in the name of any predecessor hereunder or in the

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name of the successor to the Trustee; and in all such cases such certificates shall have the
full force which it is anywhere in the Notes or in this Indenture; provided that the
certificate of the Trustee shall have.

          SECTION 7.10.   Eligibility; Disqualification. The Trustee shall at all times satisfy
the requirements of Section 310(a) of the Trust Indenture Act. The Trustee shall have a combined
capital and surplus of at least $50,000,000 as set forth in its most recent published annual report
of condition. The Trustee shall comply with Section 310(b) of the Trust Indenture Act;
provided, however, that there shall be excluded from the operation of Section
310(b)(1) of the Trust Indenture Act and any indenture or indentures under which other securities
or certificates of interest or participation in other securities of the Company are outstanding if
the requirements for such exclusion set forth in Section 310(b)(1) of the Trust Indenture Act are
met.

          Nothing herein shall prevent the Trustee from filing with the Commission the application
referred to in the second to last paragraph of Section 310(b) of the Trust Indenture Act.

          SECTION 7.11.   Preferential Collection of Claims Against the Company. The Trustee
shall comply with Section 311(a) of the Trust Indenture Act, excluding any creditor relationship
listed in Section 311(b) of the Trust Indenture Act. A Trustee who has resigned or been removed
shall be subject to Section 311(a) of the Trust Indenture Act to the extent indicated.

ARTICLE VIII

Discharge of Indenture; Defeasance

          SECTION 8.1.   Discharge of Liability on Notes; Defeasance. (a) With respect to a
series of Notes, when (i) the Company delivers to the Trustee all outstanding Notes of such series
that have not already been delivered to the Trustee for cancellation or (ii)(A) all outstanding
Notes of such series have become due and payable, whether at maturity, as a result of repayment at
the option of the Holders or as a result of the mailing of a notice of redemption pursuant to
Article III hereof or (B) the Notes of such series shall become due and payable at their Stated
Maturity within one year, or the Notes of such series are to be called for redemption within one
year under arrangements satisfactory to the Trustee for the giving of notice of redemption by the
Trustee in the name, and at the expense, of the Company, and, in each case of this clause (ii), the
Company irrevocably deposits or causes to be deposited with the Trustee funds sufficient to pay at
maturity or upon redemption all outstanding Notes of such series, including interest thereon to
maturity or such Redemption Date, and if in the case of either clause (i) or (ii) the Company pays
all other sums payable hereunder by the Company, then this Indenture shall, subject to Section
8.1(c), cease to be of further effect. The Trustee shall acknowledge satisfaction and discharge of
this Indenture on demand of the Company accompanied by an Officers’ Certificate from the Company
and an Opinion of Counsel from the Company that all conditions precedent provided herein for
relating to satisfaction and discharge of this Indenture have been complied with and at the cost
and expense of the Company.

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          (b)   Subject to Sections 8.1(c) and 8.2, the Company at any time may terminate (i) all of its
obligations under the Notes of a series and this Indenture as it relates to such Notes (“legal
defeasance option”) or (ii) its obligations under Section 4.2 and Section 4.3 and the operation
of Sections 6.1(3), 6.1(4), 6.1(5) and 6.1(6) as it relates to a series of Notes (“covenant
defeasance option”). The Company may exercise its legal defeasance option as it relates to a
series of Notes notwithstanding its prior exercise of its covenant defeasance option as it relates
to such Notes.

          If the Company exercises its legal defeasance option with respect to the Notes of a series,
payment of the Notes of such series may not be accelerated because of an Event of Default. If the
Company exercises its covenant defeasance option, payment of the Notes of such series may not be
accelerated because of an Event of Default specified in Sections 6.1(3), 6.1(4), 6.1(5) or 6.1(6).

          Upon satisfaction of the conditions set forth herein and upon request of the Company, the
Trustee shall acknowledge in writing the discharge of those obligations that the Company
terminates.

          (c)   Notwithstanding clauses (a) and (b) above, the Company’s obligations in Sections 2.3,
2.4, 2.5, 2.9, 4.1, 4.6, 7.7, 7.8, 8.4, 8.5 and 8.6 shall survive until the Notes of each series
have been paid in full. Thereafter, the Company’s and the Trustee’s obligations in Sections 7.7,
8.4 and 8.5 shall survive such satisfaction and discharge.

          SECTION 8.2.   Conditions to Defeasance. The Company may exercise its legal
defeasance option or its covenant defeasance option with respect to a series of the Notes only if:

          (1)   the Company irrevocably deposits or causes to be deposited in trust with the
Trustee money or U.S. Government Obligations which through the scheduled payment of
principal and interest in respect thereof in accordance with their terms shall provide cash
at such times and in such amounts as shall be sufficient to pay principal and interest when
due on all outstanding Notes of such series (except Notes replaced pursuant to Section 2.9)
to maturity or redemption, as the case may be;

          (2)   the Company delivers to the Trustee a certificate from a nationally recognized
firm of independent accountants expressing their opinion that the payments of principal and
interest when due and without reinvestment on the deposited U.S. Government Obligations plus
any deposited money without investment shall provide cash at such times and in such amounts
as shall be sufficient to pay principal and interest when due on all outstanding Notes of
such series to maturity or redemption, as the case may be;

          (3)   91 days pass after the deposit is made and during the 91-day period no Default
specified in Section 6.1(7) or (8) occurs which is continuing at the end of the period;

          (4)   the Company shall have delivered to the Trustee an Officer’s Certificate stating
that the deposit was not made by the Company with the intent of defeating, hindering,
delaying or defrauding any creditors of the Company or any Subsidiary Guarantors;

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          (5)   in the case of the legal defeasance option, the Company shall have delivered to
the Trustee an Opinion of Counsel stating that (i) the Company has received from, or there
has been published by, the Internal Revenue Service a ruling, or (ii) since the date of this
Indenture there has been a change in the applicable federal income tax law, in either case
to the effect that, and based thereon such Opinion of Counsel shall confirm that, the
Holders of Notes of such series will not recognize income, gain or loss for U.S. federal
income tax purposes as a result of such deposit and defeasance and will be subject to U.S.
federal income tax on the same amounts, in the same manner and at the same times as would
have been the case if such deposit and defeasance had not occurred;

          (6)   in the case of the covenant defeasance option, the Company shall have delivered
to the Trustee an Opinion of Counsel to the effect that the Holders of Notes of such series
will not recognize income, gain or loss for U.S. federal income tax purposes as a result of
such deposit and defeasance and will be subject to U.S. federal income tax on the same
amounts, in the same manner and at the same times as would have been the case if such
deposit and defeasance had not occurred; and

          (7)   the Company delivers to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that all conditions precedent to the defeasance and discharge of the
Notes as contemplated by this Article VIII have been complied with.

          Before or after a deposit, the Company may make arrangements satisfactory to the Trustee for
the redemption of any of the Notes at a future date in accordance with Article III.

          SECTION 8.3.   Application of Trust Money. The Trustee shall hold in trust money or
U.S. Government Obligations deposited with it pursuant to this Article VIII. It shall apply the
deposited money and the money from U.S. Government Obligations either directly or through the
Paying Agent as the Trustee may determine and in accordance with this Indenture to the payment of
principal of and interest on the series of the Notes that was defeased.

          SECTION 8.4.   Repayment to the Company. The Trustee and the Paying Agent shall
promptly turn over to the Company upon request any excess money or securities held by them at any
time.

          Subject to any applicable abandoned property law, the Trustee and the Paying Agent shall pay
to the Company upon written request any money held by them for the payment of principal or interest
that remains unclaimed for two years after the date of payment of such principal and interest, and,
thereafter, Noteholders entitled to the money must look to the Company for payment as general
creditors.

          Any unclaimed funds held by the Trustee pursuant to this Section 8.4 shall be held uninvested
and without any liability for interest.

          SECTION 8.5.   Indemnity for Government Obligations. The Company shall pay and shall
indemnify the Trustee against any tax, fee or other charge imposed on or assessed against deposited
U.S. Government Obligations or the principal and interest received on such U.S. Government
Obligations other than any such tax, fee or other charge which by law is for the
account of the Holders of the defeased Notes; provided that the Trustee shall be
entitled to charge any such tax, fee or other charge to such Holder’s account.

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          SECTION 8.6.   Reinstatement. If the Trustee or Paying Agent is unable to apply any
money or U.S. Government Obligations in accordance with this Article VIII by reason of any legal
proceeding or by reason of any order or judgment of any court or governmental authority enjoining,
restraining or otherwise prohibiting such application, the Company’s obligations under this
Indenture as it relates to the defeased Notes and such Notes shall be revived and reinstated as
though no deposit had occurred pursuant to this Article VIII until such time as the Trustee or
Paying Agent is permitted to apply all such money or U.S. Government Obligations in accordance with
this Article VIII; provided, however, that (a) if the Company has made any payment
of interest on or principal of any series of the Notes following the reinstatement of its
obligations, the Company shall be subrogated to the rights of the Holders of the particular Notes
to receive such payment from the money or U.S. Government Obligations held by the Trustee or Paying
Agent and (b) unless otherwise required by any legal proceeding or any order or judgment of any
court or governmental authority, the Trustee or Paying Agent shall return all such money and U.S.
Government Obligations to the Company promptly after receiving a written request therefor at any
time, if such reinstatement of the Company’s obligations has occurred and continues to be in
effect.

ARTICLE IX

Amendments

          SECTION 9.1.   Without Consent of Holders. The Company, the Subsidiary Guarantors and
the Trustee may amend this Indenture or the Notes of a series without notice to or consent of any
Noteholder of such series:

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

          (2)   to evidence the succession of another Person to the Company or any Subsidiary
Guarantor and the assumption by any such Person of the obligations of the Company or such
Subsidiary Guarantor, in each case, in accordance with the provisions of Article V;

          (3)   to add any additional Events of Default;

          (4)   to add to the covenants of the Company for the benefit of the Holders of all the
Notes of such series or to surrender any right or power herein conferred upon the Company;

          (5)   to add one or more Guarantees for the benefit of Holders of the Notes;

          (6)   to evidence the release of any Subsidiary Guarantor from its Guarantee of the
Notes in accordance with Article X;

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            (7)   add collateral security with respect to the Notes of such series or any
Guarantee;

            (8)   to add or appoint a successor or separate Trustee or other agent;

            (9)   to provide for the issuance of the Exchange Notes of such series, which shall
have terms substantially identical in all material respects to the Initial Notes of such
series (except that the transfer restrictions contained in the Initial Notes shall be
modified or eliminated, as appropriate, and there will be no registration rights), and which
will be treated, together with any outstanding Initial Notes of such series, as a single
issue of securities;

          (10)   to provide for the issuance of any Additional Notes of such series;

          (11)   to comply with any requirements in connection with qualifying this Indenture
under the Trust Indenture Act;

          (12)   to comply with the rules of any applicable securities depository;

          (13)   to provide for uncertificated Notes in addition to or in place of certificated
Notes; provided, however, that the uncertificated Notes are issued in
registered form for purposes of Section 163(f) of the Code or in a manner such that the
uncertificated Notes are as described in Section 163(f)(2)(B) of the Code; and

          (14)   to change any other provision if the change does not adversely affect the
interests of any Noteholder of such series.

          After an amendment under this Section 9.1 becomes effective, the Company shall mail to
Noteholders a notice briefly describing such amendment. The failure to give such notice to all
Noteholders, or any defect therein, shall not impair or affect the validity of an amendment under
this Section 9.1.

          SECTION 9.2.   With Consent of Holders. The Company, the Subsidiary Guarantors and
the Trustee may amend this Indenture or the Notes of a series without notice to any Noteholder but
with the written consent of the Holders of at least a majority in principal amount of the Notes
then outstanding of such series (including consents obtained in connection with a tender offer or
exchange for Notes). However, without the consent of each Noteholder affected, an amendment may
not:

            (1)   change the Stated Maturity of the principal of, or installment of interest on,
any Note;

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

            (3)   reduce any premium, if any, payable on the redemption or required repurchase of
any Note or change the date on which any Note may or must be redeemed, repaid or required to
be repurchased;

49

 

            (4)   change the coin or currency in which the principal of or interest on any Note is
payable;

            (5)   release the Guarantee of any Subsidiary Guarantor except as provided under
Article X, or make any changes to such Guarantee in a manner adverse to the Holders;

            (6)   impair the right of any Holder to institute suit for the enforcement of any
payment on or after the Stated Maturity of any Note;

            (7)   reduce the percentage in principal amount of the outstanding Notes, the consent
of whose Holders is required in order to take certain actions;

            (8)   reduce the requirements for quorum or voting by Holders in this Indenture or the
Notes;

            (9)   modify any of the provisions of this Indenture regarding the waiver of past
defaults and the waiver of certain covenants by Holders except to increase any percentage
vote required or to provide that certain other provisions of the Indenture cannot be
modified or waived without the consent of the holder of each Note affected thereby; or

          (10)   modify any of the above provisions of this Section 9.2.

          It shall not be necessary for the consent of the Holders under this Section 9.2 to approve the
particular form of any proposed amendment, but it shall be sufficient if such consent approves the
substance thereof.

          After an amendment under this Section 9.2 becomes effective, the Company shall mail to
Noteholders a notice briefly describing such amendment. The failure to give such notice to all
Noteholders, or any defect therein, shall not impair or affect the validity of an amendment under
this Section 9.2.

          SECTION 9.3.   Compliance with Trust Indenture Act. Every amendment to this Indenture
or the Notes of each series shall comply with the Trust Indenture Act as then in effect.

          SECTION 9.4.   Effect of Consents and Waivers. A consent to an amendment, supplement
or a waiver by a Holder of a Note shall bind the Holder and every subsequent Holder of that Note or
portion of the Note that evidences the same debt as the consenting Holder’s Note, even if notation
of the consent or waiver is not made on the Note. After an amendment or waiver becomes effective
with respect to the Notes, it shall bind every Noteholder.

          The Company may, but shall not be obligated to, fix a record date for the purpose of
determining the Noteholders entitled to give their consent or take any other action described above
or required or permitted to be taken pursuant to this Indenture. If a record date is fixed, then
notwithstanding the immediately preceding paragraph, those Persons who were Noteholders at such
record date (or their duly designated proxies), and only those Persons, shall be entitled to
give such consent or to take any such action, whether or not such Persons continue to be
Holders after such record date.

50

 

          SECTION 9.5.   Notation on or Exchange of Notes. If an amendment changes the terms of
a Note, the Trustee may require the Holder of the Note to deliver it to the Trustee. The Company
shall provide in writing to the Trustee an appropriate notation to be placed on the Note regarding
the changed terms and return it to the Holder. Alternatively, if the Company or the Trustee so
determine, the Company in exchange for the Note shall issue and the Trustee shall authenticate a
new Note that reflects the changed terms. Failure to make the appropriate notation or to issue a
new Note shall not affect the validity of such amendment.

          SECTION 9.6.   Trustee To Sign Amendments. The Trustee shall sign any amendment
authorized pursuant to this Article IX if the amendment does not adversely affect the rights,
duties, liabilities or immunities of the Trustee. If it does, the Trustee may but need not sign
it. In signing such amendment the Trustee shall receive indemnity reasonably satisfactory to it
and to receive, and (subject to Section 7.1) shall be fully protected in conclusively relying upon,
in addition to the documents required by Section 11.4, an Officers’ Certificate of the Company and
an Opinion of Counsel stating that such amendment complies with the provisions of this Article IX
and that such supplemental indenture constitutes the legal valid and binding obligation of the
Company in accordance with its terms subject to customary exceptions.

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

ARTICLE X

Guarantees

          SECTION 10.1.   Guarantees. Each of the Subsidiary Guarantors hereby fully
unconditionally and irrevocably guarantees, as primary obligor and not merely as surety, to each
Holder of the Notes of each series and to the Trustee the full and punctual payment when due,
whether at maturity, by acceleration, by redemption or otherwise, of the principal of and interest,
if any, on the Notes of the relevant series and all other obligations of the Company under this
Indenture and the Notes of each series (the “Obligations”) to the Trustee and to the Holders. Each
of the Subsidiary Guarantors further agrees (to the extent permitted by law) that the Obligations
may be extended or renewed, in whole or in part, without notice or further assent from it, and that
it shall remain bound under this Article X notwithstanding any extension or renewal of any
Obligation.

          Each of the Subsidiary Guarantors waives presentation to, demand of payment from and protest
to the Company of any of the Obligations and also waives notice of protest for nonpayment. Each of
the Subsidiary Guarantors waives notice of any Default under the Notes or the Obligations. The
obligations of each of the Subsidiary Guarantors hereunder shall not be affected by (a) the failure
of any Holder to assert any claim or demand or to enforce any right or remedy against the Company
or any other person under this Indenture, the Notes or any other

51

 

agreement or otherwise; (b) any extension or renewal of any thereof; (c) any rescission,
waiver, amendment or modification of any of the terms or provisions of this Indenture, the Notes or
any other agreement; (d) the release of any security held by any Holder or the Trustee for the
Obligations or any of them; or (e) any change in the ownership of the Company.

          Each of the Subsidiary Guarantors further agrees that the Guarantee herein constitutes a
guarantee of payment when due (and not a guarantee of collection) and waives any right to require
that any resort be had by any Holder to any security held for payment of the Obligations.

          The obligations of each of the Subsidiary Guarantors hereunder shall not be subject to any
reduction, limitation, impairment or termination for any reason (other than payment of the
Obligations in full), including any claim of waiver, release, surrender, alteration or compromise,
and shall not be subject to any defense of setoff, counterclaim, recoupment or termination
whatsoever or by reason of the invalidity, illegality or unenforceability of the Obligations or
otherwise. Without limiting the generality of the foregoing, the obligations of each of the
Subsidiary Guarantors herein shall not be discharged or impaired or otherwise affected by the
failure of any Holder to assert any claim or demand or to enforce any remedy under this Indenture,
the Notes or any other agreement, by any waiver or modification of any thereof, by any Default,
failure or delay, willful or otherwise, in the performance of the Obligations, or by any other act
or thing or omission or delay to do any other act or thing which may or might in any manner or to
any extent vary the risk of each of the Subsidiary Guarantors or would otherwise operate as a
discharge of the Subsidiary Guarantors as a matter of law or equity.

          Each of the Subsidiary Guarantors further agrees that the Guarantee herein shall continue to
be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of
principal of or interest, if any, on any of the Obligations is rescinded or must otherwise be
restored by any Holder upon the bankruptcy or reorganization of the Company or otherwise.

          In furtherance of the foregoing and not in limitation of any other right which any Holder has
at law or in equity against any of the Subsidiary Guarantors by virtue hereof, upon the failure of
the Company to pay any of the Obligations when and as the same shall become due, whether at
maturity, by acceleration, by redemption or otherwise, each of the Subsidiary Guarantors hereby
promises to and shall, upon receipt of written demand by the Trustee, forthwith pay, or cause to be
paid, in cash, to the Holders an amount equal to the sum of (i) the unpaid amount of such
Obligations then due and owing and (ii) accrued and unpaid interest on such Obligations then due
and owing (but only to the extent not prohibited by law).

          Each of the Subsidiary Guarantors further agrees that, as between itself, on the one hand, and
the Holders, on the other hand, (x) the maturity of the Obligations guaranteed hereby may be
accelerated as provided in this Indenture for the purposes of the Guarantee herein, notwithstanding
any stay, injunction or other prohibition preventing such acceleration in respect of the
Obligations guaranteed hereby and (y) in the event of any such declaration of acceleration of such
Obligations, such Obligations (whether or not due and payable) shall forthwith become due and
payable by such Subsidiary Guarantor for the purposes of this Guarantee.

52

 

          Each of the Subsidiary Guarantors also agrees to pay any and all reasonable costs and expenses
(including reasonable attorneys’ fees) incurred by the Trustee or the Holders in enforcing any
rights under this Section 10.1.

          SECTION 10.2.   No Subrogation. Notwithstanding any payment or payments made by any
Subsidiary Guarantor hereunder, none of the Subsidiary Guarantors shall be entitled to be
subrogated to any of the rights of the Trustee or any Holder against the Company or any collateral
security or Guarantee or right of offset held by the Trustee or any Holder for the payment of the
Obligations, nor shall any of the Subsidiary Guarantors seek or be entitled to seek any
contribution or reimbursement from the Company or any other Subsidiary Guarantor in respect of
payments made by such Subsidiary Guarantor hereunder, until all amounts owing to the Trustee and
the Holders, by the Company on account of the Obligations are paid in full. If any amount shall be
paid to any of the Subsidiary Guarantors on account of such subrogation rights at any time when all
of the Obligations shall not have been paid in full, such amount shall be held by such Subsidiary
Guarantor in trust for the Trustee and the Holders, segregated from other funds of such Subsidiary
Guarantor, and shall, forthwith upon receipt by such Subsidiary Guarantor, be turned over to the
Trustee in the exact form received by such Subsidiary Guarantor (duly indorsed by such Subsidiary
Guarantor to the Trustee, if required), to be applied against the Obligations.

          SECTION 10.3.   Consideration. Each of the Subsidiary Guarantors has received, or
shall receive, direct or indirect benefits from the making of the Guarantee.

          SECTION 10.4.   Limitation on Subsidiary Guarantor Liability. Each Subsidiary
Guarantor, and by its acceptance of Notes, each Holder, hereby confirms that it is the intention of
all such parties that the Guarantee of such Subsidiary Guarantor not constitute a fraudulent
transfer or conveyance for purposes of Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the
Uniform Fraudulent Transfer Act or any similar federal or state law to the extent applicable to any
Guarantee. To effectuate the foregoing intention, the Trustee, the Holders and the Subsidiary
Guarantors hereby irrevocably agree that the obligations of each Subsidiary Guarantor shall be
limited to the maximum amount as would, after giving effect to such maximum amount and all other
contingent and fixed liabilities of such Subsidiary Guarantor that are relevant under such laws and
after giving effect to any collections from, rights to receive contribution from or payments made
by or on behalf of any other Subsidiary Guarantor in respect of the obligations of such other
Guarantor under this Article X, cause the obligations of such Subsidiary Guarantor under its
Guarantee not to constitute a fraudulent conveyance or fraudulent transfer under applicable law.
Each Subsidiary Guarantor that makes a payment under its Guarantee shall be entitled upon payment
in full of all guaranteed obligations under this Indenture to a contribution from each other
Subsidiary Guarantor in an amount equal to such other Subsidiary Guarantor’s pro rata portion of
such payment based on the respective net assets of all the Subsidiary Guarantors at the time of
such payment determined in accordance with GAAP.

          SECTION 10.5.   Execution and Delivery. To evidence its Guarantee set forth in
Section 10.01 hereof, each Subsidiary Guarantor hereby agrees that this Indenture (or a
supplemental indenture, as the case may be) shall be executed on behalf of such Subsidiary
Guarantor by one of its Officers, managers, its trustee, its managing member or its general
partner, as the case may be.

53

 

          Each Subsidiary Guarantor hereby agrees that its Guarantee set forth in Section 10.01 hereof
shall remain in full force and effect notwithstanding the absence of the endorsement of any
notation of such Guarantee on the Notes.

          If an Officer, manager, trustee, managing member or general partner of a Subsidiary Guarantor
whose signature is on this Indenture (or a supplemental indenture, as the case may be) no longer
holds that office at the time the Trustee authenticates the Note, the Guarantee shall be valid
nevertheless.

          The delivery of any Note by the Trustee, after the authentication thereof hereunder, shall
constitute due delivery of the Guarantee set forth in this Indenture on behalf of the Subsidiary
Guarantors.

          SECTION 10.6.   Release of Subsidiary Guarantors. A Subsidiary Guarantor will be
automatically released from all its obligations under the Notes of a series, this Indenture and its
Guarantee, and its Guarantee will automatically terminate (1) upon the termination for any reason
of the obligations of such Subsidiary Guarantor as a guarantor or borrower under the Credit
Agreement (including, without limitation, pursuant to the terms of the Credit Agreement, upon
agreement of the requisite lenders under the Credit Agreement or upon the termination of the Credit
Agreement or upon the replacement thereof with a credit facility not providing for such Subsidiary
Guarantor to be a guarantor or a borrower thereunder), (2) upon the termination for any reason of
the obligations of such Subsidiary Guarantor as a guarantor under the Private Notes, (3) upon the
exercise of the legal defeasance option pursuant to Section 8.1(b) of the relevant series, or upon
satisfaction and discharge of the Indenture pursuant to Section 8.1(a) as it relates to such series
or (4) upon the consummation of any sale or other disposition of all of the Capital Stock of such
Subsidiary Guarantor (including by way of merger or consolidation) or other transaction such that
after giving effect to such sale, disposition or other transaction such Subsidiary Guarantor is no
longer a Domestic Subsidiary of the Company. Upon request of the Company, the Trustee shall
evidence such release by a supplemental indenture or other instrument which may be executed by the
Trustee without the consent of any Holder.

          SECTION 10.7.   Future Subsidiary Guarantors. After the Issue Date, the Company shall
cause any wholly-owned Domestic Subsidiary that is not a Subsidiary Guarantor and that becomes a
guarantor or a borrower under the Credit Agreement or the Private Notes to execute and deliver to
the Trustee within 60 days of becoming a guarantor or borrower under the Credit Agreement or the
Private Notes, a supplemental indenture pursuant to which such wholly-owned Domestic Subsidiary
shall become a Subsidiary Guarantor and shall provide a Guarantee of the Obligations.

54

 

ARTICLE XI

Miscellaneous

          SECTION 11.1.   Trust Indenture Act Controls. If any provision of this Indenture
limits, qualifies or conflicts with the duties imposed by, or with another provision included or
which is required to be included in this Indenture by the Trust Indenture Act, the duty or
provision required by the Trust Indenture Act shall control.

          SECTION 11.2.   Notices. Any notice or communication shall be in writing (including
facsimile) and delivered in person or mailed by first-class mail addressed as follows:

if to the Company or any Subsidiary Guarantor:

Reliance Steel & Aluminum Co.

350 South Grand Avenue, Suite 5100

Los Angeles, CA 90071

Facsimile Number: (213) 687-8792

Attention: Chief Financial Officer

if to the Trustee:

Wells Fargo Bank, National Association

707 Wilshire Blvd, 17th Floor

Los Angeles, CA 90017

Facsimile Number: 213-614-3355

Attention: Madeliena Hall

          Any notices between the Company, the Subsidiary Guarantors and the Trustee may be by facsimile
or certified first class mail, receipt confirmed and the original to follow by guaranteed overnight
courier. The Company, the Subsidiary Guarantors or the Trustee by notice to the others may
designate additional or different addresses for subsequent notices or communications. The Trustee
agrees to accept and act upon facsimile transmission of written instructions and/or directions
pursuant to this Indenture given by the Company, provided, however that: (1) the
Company, subsequent to such facsimile transmission of written instructions and/or directions, shall
provide the originally executed instructions and/or directions to the Trustee in a timely manner
and (2) such originally executed instructions and/or directions shall be signed by an authorized
Officer of the Company.

          Any notice or communication mailed to a Noteholder shall be mailed to the Noteholder at the
Noteholder’s address as it appears on the registration books of the Registrar and shall be
sufficiently given if so mailed within the time prescribed.

          Failure to mail a notice or communication to a Noteholder or any defect in it shall not affect
its sufficiency with respect to other Noteholders. If a notice or communication is mailed in the
manner provided above, it is duly given, whether or not the addressee receives it.

          SECTION 11.3.   Communication by Holders with other Holders. Noteholders may
communicate pursuant to Section 312(b) of the Trust Indenture Act with other Noteholders with
respect to their rights under this Indenture or the Notes. The Company, the Trustee, the Registrar
and anyone else shall have the protection of Section 312(c) of the Trust Indenture Act.

55

 

          SECTION 11.4.   Certificate and Opinion as to Conditions Precedent. Upon any request
or application by the Company to the Trustee to take or refrain from taking any action under this
Indenture, the Company shall furnish to the Trustee:

          (1)   an Officers’ Certificate of the Company in form reasonably satisfactory to the
Trustee stating that, in the opinion of the signers, all conditions precedent, if any,
provided for in this Indenture relating to the proposed action have been complied with; and

          (2)   an Opinion of Counsel of the Company in form reasonably satisfactory to the
Trustee stating that, in the opinion of such counsel, all such conditions precedent have
been complied with.

          Notwithstanding the foregoing, no such Opinion of Counsel shall be given with respect to the
authentication and delivery of any Initial Notes.

          SECTION 11.5.   Statements Required in Certificate or Opinion. The certificate or
opinion with respect to compliance with a covenant or condition provided for in this Indenture
shall include:

          (1)   a statement that the individual making such certificate or opinion has read such
covenant or condition;

          (2)   a brief statement as to the nature and scope of the examination or investigation
upon which the statements or opinions contained in such certificate or opinion are based;

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

          (4)   a statement as to whether or not, in the opinion of such individual, such
covenant or condition has been complied with.

          SECTION 11.6.   When Notes Disregarded. In determining whether the Holders of the
required principal amount of Notes of a series have concurred in any direction, waiver or consent,
Notes of such series owned by the Company or by any Person directly or indirectly controlling or
controlled by or under direct or indirect common control with the Company (an “Affiliate”)
shall be disregarded and deemed not to be outstanding, except that, for the purpose of determining
whether the Trustee shall be protected in conclusively relying on any such direction, waiver or
consent, only Notes of such series which a Trust Officer of the Trustee actually knows are so owned
shall be so disregarded. Also, subject to the foregoing, only Notes of such series outstanding at
the time shall be considered in any such determination.

          SECTION 11.7.   Rules by Trustee, Paying Agent and Registrar. The Trustee may make
reasonable rules for action by or a meeting of Noteholders. The Registrar and the Paying Agent may
make reasonable rules for their functions.

56

 

          SECTION 11.8.   Governing Law. This Indenture and the Notes shall be governed by, and
construed in accordance with, the laws of the State of New York.

          SECTION 11.9.   No Recourse Against Others. A director, Officer, employee or
stockholder (other than the Company), as such, of the Company shall not have any liability for any
obligations of the Company under the Notes of each series, this Indenture or the Registration
Rights Agreement or for any claim based on, in respect of or by reason of such obligations or their
creation. By accepting a Note, each Noteholder shall waive and release all such liability. The
waiver and release shall be part of the consideration for the issue of the Notes.

          SECTION 11.10.   Successors. All agreements of the Company in this Indenture and the
Notes shall bind its successors and assigns. All agreements of the Trustee in this Indenture shall
bind its successors.

          SECTION 11.11.   Multiple Originals. The parties may sign any number of copies of
this Indenture. Each signed copy shall be an original, but all of them together represent the same
agreement. One signed copy is enough to prove this Indenture.

          SECTION 11.12.   Variable Provisions. The Company initially appoints the Trustee as
Paying Agent and Registrar and custodian with respect to any Global Notes (as defined in the
Appendix hereto).

          SECTION 11.13.   Qualification of Indenture. The Company shall qualify this Indenture
under the Trust Indenture Act in accordance with the terms and conditions of the Registration
Rights Agreement and shall pay all reasonable costs and expenses (including reasonable attorneys’
fees for the Company, the Trustee and the Holders) incurred in connection therewith, including, but
not limited to, costs and expenses of qualification of this Indenture and the Notes and printing
this Indenture and the Notes. The Trustee shall be entitled to receive from the Company any such
Officers’ Certificates, Opinions of Counsel or other documentation as it may reasonably request in
connection with any such qualification of this Indenture under the Trust Indenture Act.

          SECTION 11.14.   Table of Contents; Headings. The table of contents, cross-reference
sheet and headings of the Articles and Sections of this Indenture have been inserted for
convenience of reference only, are not intended to be considered a part hereof and shall not modify
or restrict any of the terms or provisions hereof.

          SECTION 11.15.   Waiver of Jury Trial. EACH OF THE COMPANY, THE SUBSIDIARY GUARANTORS
AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY
AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS
INDENTURE, THE NOTES OR THE TRANSACTION CONTEMPLATED HEREBY.

          SECTION 11.16.   Force Majeure. In no event shall the Trustee be responsible or
liable for any failure or delay in the performance of its obligations hereunder arising out of or
caused by, directly or indirectly, forces beyond its control, including, without limitation,
strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances,
nuclear or

57

 

natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities,
communications or computer (software and hardware) services; it being understood that the Trustee
shall use reasonable efforts which are consistent with accepted practices in the banking industry
to resume performance as soon as practicable under the circumstances.

58

 

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

	 	 	 	 	 
	 	RELIANCE STEEL & ALUMINUM CO.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	ALLEGHENY STEEL DISTRIBUTORS, INC. 

ALUMINUM AND STAINLESS, INC. 

CCC STEEL, INC. 

CHAPEL STEEL CORP. 

CHATHAM STEEL CORPORATION 

DURRETT SHEPPARD STEEL CO., INC. 

PACIFIC METAL COMPANY 

PDM STEEL SERVICE CENTERS, INC. 

PHOENIX CORPORATION 

TOMA METALS, INC. 

VIKING MATERIALS, INC. 

YARDE METALS, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	Karla Lewis   	 
	 	 	Title:  	Vice President and Secretary of each of
the foregoing 	 
	 
	 	EARLE M. JORGENSEN COMPANY 

PRECISION STRIP, INC. 

PRECISION STRIP TRANSPORT, INC. 

SISKIN STEEL & SUPPLY COMPANY, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	Karla Lewis   	 
	 	 	Title:  	Vice President and Assistant Secretary of
each of the foregoing 	 
	 

[Reliance Steel & Aluminum Co. Indenture]

 

 

	 	 	 	 	 
	 	LUSK METALS

SERVICE STEEL AEROSPACE CORP.

 	 
	 	By:  	 	 
	 	 	Name:  	Karla Lewis   	 
	 	 	Title:  	Chief Financial Officer and Secretary of
each of the foregoing 	 
	 
	 	AMERICAN METALS CORPORATION

 	 
	 	By:  	 	 
	 	 	Name:  	Karla Lewis   	 
	 	 	Title:  	Vice President, Chief Financial Officer
and Assistant Secretary of the foregoing 	 
	 
	 	AMERICAN STEEL, L.L.C.

 	 
	 	By:  	 	 
	 	 	Name:  	Karla Lewis   	 
	 	 	Title:  	Chief Financial Officer, Treasurer and
Assistant Secretary of the foregoing 	 
	 
	 	AMI METALS, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	Karla Lewis   	 
	 	 	Title:  	Vice President, Chief Financial Officer
and Secretary of the foregoing 	 
	 
	 	LIEBOVICH BROS., INC. 

LBT, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	Karla Lewis   	 
	 	 	Title:  	Vice President, Assistant Treasurer and
Assistant Secretary of the foregoing 	 
	 

[Reliance Steel & Aluminum Co. Indenture]

 

 

	 	 	 	 	 
	 	RSAC MANAGEMENT CORP.

 	 
	 	By:  	 	 
	 	 	Name:  	Karla Lewis   	 
	 	 	Title:  	Executive Vice President, Chief Financial
Officer and Assistant Secretary 	 
	 

[Reliance Steel & Aluminum Co. Indenture]

 

 

EXHIBIT A

[FORM OF FACE OF INITIAL NOTE]

RELIANCE STEEL & ALUMINUM CO.

6.200% SENIOR NOTES DUE 2016

	 	 	 	 	 
	No. ____	 	Principal Amount $                    
	 

	 	 	 	(subject to adjustment as reflected in the Schedule of Increases
and Decreases in Global Note attached hereto)

	 	 	 
	 

	 	CUSIP NO.                     
	 

	 	ISIN NO.                     

          Reliance Steel & Aluminum Co., a California corporation, for value received, promises to pay
to                     , or registered assigns, the principal sum of                      Dollars (subject to
adjustment as reflected in the Schedule of Increases and Decreases in Global Note attached hereto)
on November 15, 2016.

          Interest Payment Dates: May 15 and November 15 of each year, commencing on [May 15,
2007][first interest payment date relating to any Additional Notes].

          Record Dates: May 1 and November 1 of each year.

          Additional provisions of this Note are set forth on the other side of this Note.

A-1

 

          IN WITNESS WHEREOF, RELIANCE STEEL & ALUMINUM CO. has caused this Note to be duly executed.

Dated:

	 	 	 	 	 
	 	 	RELIANCE STEEL & ALUMINUM CO.
	 
	 	 	 	 
	 

	 	By	 	 
	 

	 	 	 	 
	 

	 	 	 	Name:
	 

	 	 	 	Title:

TRUSTEE’S CERTIFICATE OF

     AUTHENTICATION

This is one of the Notes referred

to in the within-mentioned Indenture.

WELLS FARGO BANK, NATIONAL ASSOCIATION,

     as Trustee

	 	 	 	 	 
	By
	 	 	 	 
	 

	 	 

Authorized Signatory
	 	 

Dated:

A-2

 

[FORM OF REVERSE SIDE OF INITIAL NOTE]

[Reverse of 2016 Note]

6.200% Senior Notes due 2016

1. Interest

          Reliance Steel & Aluminum Co., a California corporation (together with its successors and
assigns under the Indenture hereinafter referred to, being herein called the “Company”),
promises to pay interest on the principal amount of this Note at the rate of 6.200% per annum;
provided, however, that, upon the occurrence or failure to occur of certain events
specified in the Registration Rights Agreement, the Company shall, subject to the terms and
conditions set forth in the Registration Rights Agreement, pay additional interest on the principal
amount of this Note at a rate of 0.25% per annum for the first 90-day period immediately following
such date and by an additional 0.25% per annum for the subsequent 90-day period, up to a maximum
aggregate of 0.50% per annum, after such event occurs or fails to occur so long as such event
continues or fails to occur, as the case may be. Such additional interest shall be payable in
addition to any other interest payable from time to time with respect to this Note.

          The Company shall pay interest semiannually on May 15 and November 15 of each year (each such
date, an “Interest Payment Date”), commencing on May 15, 2007. Interest on the Notes shall
accrue from [November 20, 2006] [date of issuance of any Notes], or from the most recent date to
which interest has been paid on the Notes. Interest shall be computed on the basis of a 360-day
year comprised of twelve 30-day months.

2. Method of Payment

          By no later than 11:00 a.m. (New York City time) on the date on which any principal of or
interest on any Note is due and payable, the Company shall irrevocably deposit with the Trustee or
the Paying Agent money sufficient to pay such principal and/or interest. The Company shall pay
interest (except defaulted interest) to the Persons who are registered Holders of Notes at the
close of business on the May 1 or November 1 immediately preceding the Interest Payment Date even
if Notes are cancelled, repurchased or redeemed after the record date and on or before the Interest
Payment Date. Holders must surrender Notes to a Paying Agent to collect principal payments. The
Company shall pay principal and interest in money of the United States that at the time of payment
is legal tender for payment of public and private debts. Payments in respect of Notes represented
by a Global Note (including principal, premium, if any, and interest) shall be made by the transfer
of immediately available funds to the accounts specified by The Depository Trust Company. The
Company may make all payments in respect of a Definitive Note (including principal, premium, if
any, and interest) by mailing a check to the registered address of each Holder thereof or by wire
transfer to an account located in the United States maintained by the payee.

3. Paying Agent and Registrar

          Wells Fargo Bank, National Association, a national banking association (the
“Trustee”), shall initially act as Paying Agent and Registrar. The Company may appoint and
change any Paying Agent or Registrar without notice to any Noteholder. The Company or any of
its domestically organized wholly owned Subsidiaries may act as Paying Agent.

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4. Indenture

          The Company issued the 2016 Notes under an Indenture dated as of November 20, 2006 (as it may
be amended or supplemented from time to time in accordance with the terms thereof, the
“Indenture”), among the Company, the Subsidiary Guarantors 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 (15 U.S.C. §§ 77aaa-77bbbb) as in effect on the date of
the Indenture (the “Trust Indenture Act”). Terms used herein and not defined herein have
the meanings ascribed thereto in the Indenture. The Notes are subject to all such terms, and
Noteholders are referred to the Indenture and the Trust Indenture Act for a statement of those
terms. To the extent any provision of this Note conflicts with the express provisions of the
Indenture, the provisions of the Indenture shall govern and be controlling.

          The Notes are senior unsecured obligations of the Company. The Note is one of the Initial
Notes referred to in the Indenture. The Notes include the Initial Notes issued on the Issue Date,
any Additional Notes issued in accordance with Section 2.15 of the Indenture and any Exchange Notes
issued in exchange for the Initial Notes or Additional Notes pursuant to the Indenture and the
Registration Rights Agreement. The Initial Notes, any Additional Notes and the Exchange Notes are
treated as a single class of securities under the Indenture. The Indenture imposes certain
limitations on the ability of the Company and its Subsidiaries to create liens, enter into sale and
leaseback transactions and enter into mergers and consolidations.

          The Notes are guaranteed to the extent provided in the Indenture.

5. Change of Control Repurchase Event

          Upon the occurrence of a Change of Control Repurchase Event, the Company will be required to
make an offer to each Holder to repurchase all or any part (in excess of $2,000 and integral
multiples of $1,000) of such Holder’s Notes at a purchase price in cash equal to 101% of the
principal amount thereof on the date of purchase plus accrued and unpaid interest to, but not
including, the date of purchase, in accordance with the terms contemplated in Section 4.4 of the
Indenture.

6. Optional Redemption

          The Notes shall be redeemable, in whole or in part, at any time and from time to time, at the
option of the Company, at a redemption price equal to the greater of (i) 100% of the principal
amount of such Notes and (ii) the sum of the present values of the Remaining Scheduled Payments
thereon (exclusive of interest accrued to the date of redemption) discounted to the Redemption Date
on a semiannual basis (assuming a 360-day year comprised of twelve 30-day months) at the Treasury
Rate plus 0.25% (25 basis points) (the “Make-Whole Amount”), plus accrued and unpaid
interest thereon to, but not including, the Redemption Date.

          “Comparable Treasury Issue” means the United States Treasury security selected by an
Independent Investment Banker as having an actual or interpolated maturity comparable to
the remaining term of the Notes to be redeemed that would be utilized, at the time of
selection and in accordance with customary financial practice, in pricing new issues of corporate
debt securities of comparable maturity to the remaining term of such Notes.

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          “Comparable Treasury Price” means, with respect to any Redemption Date, (1) the
arithmetic average of the Reference Treasury Dealer Quotations for such Redemption Date after
excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Trustee
obtains fewer than four Reference Treasury Dealer Quotations, the arithmetic average of all
Reference Treasury Dealer Quotations for such Redemption Date.

          “Independent Investment Banker” means Citigroup Global Markets Inc., J.P. Morgan
Securities Inc. or their respective successors as may be appointed from time to time by the Trustee
after consultation with the Company; provided, however, that if any of the
foregoing ceases to be a Primary Treasury Dealer, the Company will substitute another Primary
Treasury Dealer.

          “Reference Treasury Dealer” means Citigroup Global Markets Inc., J.P. Morgan
Securities Inc. or two other Primary Treasury Dealers selected by the Company, and each of their
respective successors and any other Primary Treasury Dealers selected by the Trustee after
consultation with the Company.

          “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury
Dealer and any Redemption Date, the arithmetic average, as determined by the Trustee, of the bid
and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its
principal amount) quoted in writing to the Trustee by such Reference Treasury Dealer as of 3:30
p.m., New York City time, on the third business day preceding such Redemption Date.

          “Remaining Scheduled Payments” means, with respect to any Note to be redeemed, the
remaining scheduled payments of the principal of and premium, if any, and interest thereon that
would be due after the related Redemption Date but for such redemption; provided,
however, that, if such Redemption Date is not an interest payment date with respect to such
note, the amount of the next scheduled interest payment thereon will be reduced by the amount of
interest accrued thereon to such Redemption Date.

          “Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal
to the semi-annual equivalent yield to maturity (computed as of the third Business Day immediately
preceding that Redemption Date) of the Comparable Treasury Issue. In determining this rate, the
Company will assume a price for the Comparable Treasury Issue (expressed as a percentage of its
principal amount) equal to the Comparable Treasury Price for such Redemption Date.

          Except as set forth above and in Section 5 of the Notes, the Notes shall not be redeemable by
the Company prior to maturity.

          The Notes shall not be entitled to the benefit of any sinking fund.

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7. Notice of Redemption

          At least 30 days but not more than 60 days before a date for redemption of Notes of this
series, the Company shall mail a notice of redemption by first-class mail to each Holder of Notes
to be redeemed at its registered address. Notes in denominations of principal amount larger than
$2,000 may be redeemed in part but only in integral multiples of $1,000 in excess thereof. If
money sufficient to pay the redemption price of and accrued and unpaid interest on all Notes (or
portions thereof) to be redeemed on the Redemption Date is deposited with the Paying Agent on or
before 11:00 a.m. (New York City time) on the Redemption Date (or, if the Company or any of its
Subsidiaries is the Paying Agent, such money is segregated and held in trust) and certain other
conditions are satisfied, on and after such date interest shall cease to accrue on such Notes (or
such portions thereof) called for redemption.

8. Registration Rights

          The Company is party to a Registration Rights Agreement, dated as of November 20, 2006, among
the Company, the Subsidiary Guarantors, Citigroup Global Markets Inc. and J.P. Morgan Securities
Inc. and the other Initial Purchasers named therein, pursuant to which it is obligated to pay
Additional Interest upon the occurrence of certain events specified in the Registration Rights
Agreement.

9. Denominations; Transfer; Exchange

          The Notes are in fully registered form without coupons in denominations of principal amount of
$2,000 and integral multiples of $1,000 in excess thereof. A Holder may register, transfer or
exchange Notes in accordance with the Indenture. The Registrar may require a Holder, among other
things, to furnish appropriate endorsements or transfer documents and to pay any taxes and fees
required by law or permitted by the Indenture. The Registrar need not register the transfer of or
exchange any Notes selected for redemption (except, in the case of a Note to be redeemed in part,
the portion of the Note not to be redeemed) for a period beginning 15 days before the mailing of a
notice of redemption of Notes to be redeemed and ending on the date of such mailing.

10. Persons Deemed Owners

          The registered holder of this Note shall be treated as the owner of it for all purposes.

11. Unclaimed Money

          If money for the payment of principal or interest remains unclaimed for two years after the
date of payment of principal and interest, the Trustee or Paying Agent shall pay the money back to
the Company at its request. After any such payment, Holders entitled to the money must look only
to the Company and not to the Trustee for payment.

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12. Defeasance

          Subject to certain conditions set forth in the Indenture, the Company at any time may
terminate some or all of its obligations under the Notes of this series and the Indenture as it
relates to Notes of this series if the Company deposits with the Trustee money or U.S. Government
Obligations for the payment of principal of and interest on the Notes to redemption or maturity, as
the case may be.

13. Amendment, Waiver

          Subject to certain exceptions set forth in the Indenture, (i) the Indenture or the Notes may
be amended with the written consent of the Holders of at least a majority in principal amount of
the outstanding Notes and (ii) any default or noncompliance with any provision of the Indenture or
the Notes may be waived with the written consent of the Holders of a majority in principal amount
of the outstanding Notes (including consents obtained in connection with a tender offer or exchange
for Notes). However, the Indenture requires the consent of each Noteholder that would be affected
for certain specified amendments or modifications of the Indenture and the Notes. Subject to
certain exceptions set forth in the Indenture, without the consent of any Noteholder, the Company
and the Trustee may amend the Indenture or the Notes, among other things, to cure any ambiguity,
omission, defect or inconsistency, or to evidence the succession of another Person to the Company
or any Subsidiary Guarantor and the assumption by any such Person of the obligations of the Company
or such Subsidiary Guarantor in accordance with Article V of the Indenture, or to add any
additional Events of Default, or to add to the covenants of the Company or surrender rights and
powers conferred on the Company, or to add one or more guarantees for the benefit of the Holders of
the Notes, or to evidence the release of any Subsidiary Guarantor from its guarantee of the notes
in accordance with the Indenture, or to add collateral security with respect to the Notes or any
Guarantee, or to add or appoint a successor or separate trustee or other agent, or to provide for
the issuance of the Exchange Notes in accordance with the Indenture, or to provide for the issuance
of Additional Notes, or to comply with any requirements in connection with qualifying the Indenture
under the Trust Indenture Act, or to comply with the rules of any applicable securities depository,
or to provide for uncertificated Notes in addition to or in place of certificated Notes, or to
change any other provision if the change does not adversely affect the interests of any Noteholder.

14. Defaults and Remedies

          Under the Indenture, Events of Default include (i) default for 30 days in payment of interest
on the Notes of this series; (ii) default in payment of principal on the Notes of this series at
its stated maturity, upon optional redemption or otherwise; (iii) failure by the Company to
repurchase Notes of this series tendered for repurchase following a Change of Control Repurchase
Event; (iv) failure by the Company to comply with any covenant or agreement in the Indenture or the
Notes, subject to notice and lapse of time; (v) failure to make any payment at maturity, including
any applicable grace period, in respect of Indebtedness of the Company or any of its Subsidiaries
(other than Indebtedness of the Company or of any of its Subsidiaries owing to the Company or any
of its Subsidiaries) with an aggregate principal amount then outstanding in excess of $30,000,000,
subject to certain conditions; (vi) default in respect of other Indebtedness of the Company or any
of its Subsidiaries (other than Indebtedness of the

A-7

 

Company or of any of its Subsidiaries owing to the Company or any of its Subsidiaries) in an
amount in excess of $30,000,000, which results in the acceleration of such Indebtedness, subject to
certain conditions; (vii) certain events of bankruptcy or insolvency involving the Company or any
Subsidiary Guarantor; and (viii) the Guarantee of any Subsidiary Guarantor ceases to be in full
force an effect during its term or any Subsidiary Guarantor denies or disaffirms in writing its
obligations under the Indenture or its Guarantee, other than in connection with the termination of
such Guarantee pursuant to the provisions of the Indenture.

          If an Event of Default occurs and is continuing with respect to Notes of this series, the
Trustee or the Holders of at least 25% in aggregate principal amount of the Notes of this series
may declare all the Notes of this series to be due and payable immediately. Certain events of
bankruptcy or insolvency involving the Company are Events of Default which will result in the Notes
of this series being due and payable immediately upon the occurrence of such Events of Default.

          Noteholders may not enforce the Indenture or the Notes except as provided in the Indenture.
The Trustee may refuse to enforce the Indenture or the Notes unless it receives indemnity or
security satisfactory to it. Subject to certain limitations, Holders of a majority in principal
amount of the Notes of this series may direct the Trustee in its exercise of any trust or power.
The Trustee may withhold from Noteholders notice of any continuing Default or Event of Default
(except a Default or Event of Default in payment of principal or interest) if it in good faith
determines that withholding notice is not opposed to their interest.

15. Trustee Dealings with the Company

          Subject to certain limitations set forth in the Indenture, the Trustee under the Indenture, in
its individual or any other capacity, may become the owner or pledgee of Notes and may otherwise
deal with and collect obligations owed to it by the Company and may otherwise deal with the Company
with the same rights it would have if it were not Trustee.

16. No Recourse Against Others

          A director, officer, employee or stockholder (other than the Company), as such, of the Company
shall not have any liability for any obligations of the Company under the Notes, the Indenture or
the Registration Rights Agreement or for any claim based on, in respect of or by reason of such
obligations or their creation. By accepting a Note, each Noteholder waives and releases all such
liability. The waiver and release are part of the consideration for the issue of the Notes.

17. Authentication

          This Note shall not be valid until an authorized signatory of the Trustee (or an
authenticating agent acting on its behalf) manually signs the certificate of authentication on the
other side of this Note.

A-8

 

18. Abbreviations

          Customary abbreviations may be used in the name of a Noteholder or an assignee, such as TEN
COM (tenants in common), TEN ENT (tenants by the entirety), JT TEN (joint tenants with rights of
survivorship and not as tenants in common), CUST (custodian) and U/G/M/A (Uniform Gift to Minors
Act).

19. CUSIP and ISIN Numbers

          The Company has caused CUSIP and ISIN numbers and/or other similar numbers to be printed on
the Notes and has directed the Trustee to use CUSIP and ISIN numbers and/or other similar numbers
in notices of redemption as a convenience to Noteholders. 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.

20. Governing Law

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

A-9

 

ASSIGNMENT FORM

To assign this Note, fill in the form below:

I or we assign and transfer this Note to

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

(Insert assignee’s Social Security or Tax I.D. No.)

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

      

	 	 	 	 	 	 	 	 	 	 	 
	Date:

	 	 	 	 	 	Your Signature:	 	 	 	 
	 

	 	 

	 	 	 	 	 	 

	 	 

Signature Guarantee:                                         

(Signature must be guaranteed by a participant in a recognized Signature Guarantee Medallion
Program or other signature guarantor program reasonably acceptable to the Trustee)

Sign exactly as your name appears on the other side of this Note.

In connection with any transfer or exchange of any of the certificated Notes evidenced by this
certificate occurring prior to the date that is two years after the later of the date of original
issuance of such Notes and the last date, if any, on which such Notes were owned by the Company or
any Affiliate of the Company, the undersigned confirms that such Notes are being transferred:

CHECK ONE BOX BELOW:

	 	 	 
	(1)o

	 	to the Company; or
	 
	 	 
	(2)o

	 	pursuant to a registration statement that has been declared effective
under the Securities Act; or
	 
	 	 
	(3)o

	 	for so long as the Notes are eligible for resale pursuant to Rule 144A
under the Securities Act, to a person it reasonably believes is a
“Qualified Institutional Buyer” as defined in Rule 144A under the
Securities Act that purchases for its own account or for the account
of a Qualified Institutional Buyer to whom notice is given that the
transfer is being made in reliance on Rule 144A; or
	 
	 	 
	(4)o

	 	pursuant to the offers and sales that occur outside the United States
within the meaning of Regulation S under the Securities Act; or
	 
	 	 
	(5)o

	 	to an institutional accredited investor (within the meaning of Rule
501(a)(1), (2), (3) or (7) under the Securities Act) that is not a
qualified institutional buyer and that is purchasing for its own
account or for the account of another

A-10

 

	 	 	 
	 

	 	institutional accredited
investor, in each case in a minimum principal amount of notes of
$250,000 and not with a view to or for offer or sale in connection
with any distribution in violation of the Securities Act; or
	 
	 	 
	(6)o

	 	under any other available exemption from the registration requirements
of the Securities Act.

Unless one of the boxes is checked, the Trustee may refuse to register any of the certificated
Notes evidenced by this certificate in the name of any Person other than the registered holder
thereof; provided, however, that if box (4), (5) or (6) is checked, the Company and
the Trustee may require, prior to registering any such transfer of the Notes, delivery of a legal
opinion, certification and/or other information satisfactory to the Company and the Trustee.

	 	 	 	 	 
	 

	 	 	 	 
	 

	 	 	 	Signature
	 
	 	 	 	 
	Signature Guarantee:
	 	 	 	 
	 
	 	 	 	 
	 

	 	 	 	 
	 

	 	 	 	Signature
	(Signature must be guaranteed by a
participant in a recognized Signature
Guarantee Medallion Program or other
signature guarantor program reasonably
acceptable to the Trustee)
	 	 	 	 

      

A-11

 

TO BE COMPLETED BY PURCHASER IF BOX (3) ABOVE IS CHECKED.

          The undersigned represents and warrants that it is purchasing this certificated Note for its
own account or an account with respect to which it exercises sole investment discretion and that it
and any such account is a “qualified institutional buyer” within the meaning of Rule 144A under the
Securities Act of 1933, and is aware that the sale to it is being made in reliance on Rule 144A and
acknowledges that it has received such information regarding the Company as the undersigned has
requested pursuant to Rule 144A or has determined not to request such information and that it is
aware that the transferor is relying upon the undersigned’s foregoing representations in order to
claim the exemption from registration provided by Rule 144A.

	 	 	 	 	 	 	 	 	 
	Dated:
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	 	 	NOTICE:
	 	To be executed by an executive officer

	 	 	 	 	 
	Signature Guarantee:
	 	 	 	 
	 
	 	 	 	 
	 

	 	 	 	 
	 

	 	 	 	Signature
	(Signature must be guaranteed by a
participant in a recognized Signature
Guarantee Medallion Program or other
signature guarantor program reasonably
acceptable to the Trustee)
	 	 	 	 

      

A-12

 

[TO BE ATTACHED TO GLOBAL SECURITIES]

SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTE

The following increases or decreases in this Global Note have been made:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Principal Amount of this Global	 	 	Signature of authorized	 
	Date of	 	Amount of decrease in Principal	 	 	Amount of decrease in Principal	 	 	Note following such decrease or	 	 	signatory of Trustee or	 
	Exchange	 	Amount of this Global Note	 	 	Amount of this Global Note	 	 	increase	 	 	Securities Custodian	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

A-13

 

EXHIBIT B

[FORM OF FACE OF INITIAL NOTE]

RELIANCE STEEL & ALUMINUM CO.

6.850% SENIOR NOTES DUE 2036

	 	 	 	 	 
	No. ____	 	Principal Amount $                    
	 

	 	 	 	(subject to adjustment as reflected in the
Schedule of Increases and Decreases in
Global Note attached hereto)

	 	 	 
	 

	 	CUSIP NO.                     
	 

	 	ISIN NO.                     

          Reliance Steel & Aluminum Co., a California corporation, for value received, promises to pay
to                     , or registered assigns, the principal sum of                      Dollars (subject to
adjustment as reflected in the Schedule of Increases and Decreases in Global Note attached hereto)
on November 15, 2036.

          Interest Payment Dates: May 15 and November 15 of each year, commencing on [May 15,
2007][first interest payment date relating to any Additional Notes].

          Record Dates: May 1 and November 1 of each year.

          Additional provisions of this Note are set forth on the other side of this Note.

B-1

 

          IN WITNESS WHEREOF, RELIANCE STEEL & ALUMINUM CO. has caused this Note to be duly executed.

Dated:

	 	 	 	 	 
	 	 	RELIANCE STEEL & ALUMINUM CO.
	 
	 	 	 	 
	 

	 	By	 	 
	 

	 	 	 	 
	 

	 	 	 	Name:
	 

	 	 	 	Title:

TRUSTEE’S CERTIFICATE OF

     AUTHENTICATION

This is one of the Notes referred

to in the within-mentioned Indenture.

WELLS
FARGO BANK, NATIONAL ASSOCIATION, as Trustee

	 	 	 	 	 
	By
	 	 	 	 
	 

	 	 

Authorized Signatory
	 	 

Dated:

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[FORM OF REVERSE SIDE OF INITIAL NOTE]

[Reverse of 2036 Note]

6.850% Senior Notes due 2036

1. Interest

          Reliance Steel & Aluminum Co., a California corporation (together with its successors and
assigns under the Indenture hereinafter referred to, being herein called the “Company”),
promises to pay interest on the principal amount of this Note at the rate of 6.850% per annum;
provided, however, that, upon the occurrence or failure to occur of certain events
specified in the Registration Rights Agreement, the Company shall, subject to the terms and
conditions set forth in the Registration Rights Agreement, pay additional interest on the principal
amount of this Note at a rate of 0.25% per annum for the first 90-day period immediately following
such date and by an additional 0.25% per annum for the subsequent 90-day period, up to a maximum
aggregate of 0.50% per annum, after such event occurs or fails to occur so long as such event
continues or fails to occur, as the case may be. Such additional interest shall be payable in
addition to any other interest payable from time to time with respect to this Note.

          The Company shall pay interest semiannually on May 15 and November 15 of each year (each such
date, an “Interest Payment Date”), commencing on May 15, 2007. Interest on the Notes shall
accrue from [November 20, 2006] [date of issuance of any Notes], or from the most recent date to
which interest has been paid on the Notes. Interest shall be computed on the basis of a 360-day
year comprised of twelve 30-day months.

2. Method of Payment

          By no later than 11:00 a.m. (New York City time) on the date on which any principal of or
interest on any Note is due and payable, the Company shall irrevocably deposit with the Trustee or
the Paying Agent money sufficient to pay such principal and/or interest. The Company shall pay
interest (except defaulted interest) to the Persons who are registered Holders of Notes at the
close of business on the May 1 or November 1 immediately preceding the Interest Payment Date even
if Notes are cancelled, repurchased or redeemed after the record date and on or before the Interest
Payment Date. Holders must surrender Notes to a Paying Agent to collect principal payments. The
Company shall pay principal and interest in money of the United States that at the time of payment
is legal tender for payment of public and private debts. Payments in respect of Notes represented
by a Global Note (including principal, premium, if any, and interest) shall be made by the transfer
of immediately available funds to the accounts specified by The Depository Trust Company. The
Company may make all payments in respect of a Definitive Note (including principal, premium, if
any, and interest) by mailing a check to the registered address of each Holder thereof or by wire
transfer to an account located in the United States maintained by the payee.

3. Paying Agent and Registrar

          Wells Fargo Bank, National Association, a national banking association (the
“Trustee”), shall initially act as Paying Agent and Registrar. The Company may appoint and
change any Paying Agent or Registrar without notice to any Noteholder. The Company or any of
its domestically organized wholly owned Subsidiaries may act as Paying Agent.

B-3

 

4. Indenture

          The Company issued the 2036 Notes under an Indenture dated as of November 20, 2006 (as it may
be amended or supplemented from time to time in accordance with the terms thereof, the
“Indenture”), among the Company, the Subsidiary Guarantors 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 (15 U.S.C. §§ 77aaa-77bbbb) as in effect on the date of
the Indenture (the “Trust Indenture Act”). Terms used herein and not defined herein have
the meanings ascribed thereto in the Indenture. The Notes are subject to all such terms, and
Noteholders are referred to the Indenture and the Trust Indenture Act for a statement of those
terms. To the extent any provision of this Note conflicts with the express provisions of the
Indenture, the provisions of the Indenture shall govern and be controlling.

          The Notes are senior unsecured obligations of the Company. The Note is one of the Initial
Notes referred to in the Indenture. The Notes include the Initial Notes issued on the Issue Date,
any Additional Notes issued in accordance with Section 2.15 of the Indenture and any Exchange Notes
issued in exchange for the Initial Notes or Additional Notes pursuant to the Indenture and the
Registration Rights Agreement. The Initial Notes, any Additional Notes and the Exchange Notes are
treated as a single class of securities under the Indenture. The Indenture imposes certain
limitations on the ability of the Company and its Subsidiaries to create liens, enter into sale and
leaseback transactions and enter into mergers and consolidations.

          The Notes are guaranteed to the extent provided in the Indenture.

5. Change of Control Repurchase Event

          Upon the occurrence of a Change of Control Repurchase Event, the Company will be required to
make an offer to each Holder to repurchase all or any part (in excess of $2,000 and in integral
multiples of $1,000) of such Holder’s Notes at a purchase price in cash equal to 101% of the
principal amount thereof on the date of purchase plus accrued and unpaid interest to, but not
including, the date of purchase, in accordance with the terms contemplated in Section 4.4 of the
Indenture.

6. Optional Redemption

          The Notes shall be redeemable, in whole or in part, at any time and from time to time, at the
option of the Company, at a redemption price equal to the greater of (i) 100% of the principal
amount of such Notes and (ii) the sum of the present values of the Remaining Scheduled Payments
thereon (exclusive of interest accrued to the date of redemption) discounted to the Redemption Date
on a semiannual basis (assuming a 360-day year comprised of twelve 30-day months) at the Treasury
Rate plus 0.35% (35 basis points) (the “Make-Whole Amount”), plus accrued and unpaid
interest thereon to, but not including, the Redemption Date.

          “Comparable Treasury Issue” means the United States Treasury security selected by an
Independent Investment Banker as having an actual or interpolated maturity comparable to
the remaining term of the Notes to be redeemed that would be utilized, at the time of
selection and in accordance with customary financial practice, in pricing new issues of corporate
debt securities of comparable maturity to the remaining term of such Notes.

B-4

 

          “Comparable Treasury Price” means, with respect to any Redemption Date, (1) the
arithmetic average of the Reference Treasury Dealer Quotations for such Redemption Date after
excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Trustee
obtains fewer than four Reference Treasury Dealer Quotations, the arithmetic average of all
Reference Treasury Dealer Quotations for such Redemption Date.

          “Independent Investment Banker” means Citigroup Global Markets Inc., J.P. Morgan
Securities Inc. or their respective successors as may be appointed from time to time by the Trustee
after consultation with the Company; provided, however, that if any of the
foregoing ceases to be a Primary Treasury Dealer, the Company will substitute another Primary
Treasury Dealer.

          “Reference Treasury Dealer” means Citigroup Global Markets Inc., J.P. Morgan
Securities Inc. or two other Primary Treasury Dealers selected by the Company, and each of their
respective successors and any other Primary Treasury Dealers selected by the Trustee after
consultation with the Company.

          “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury
Dealer and any Redemption Date, the arithmetic average, as determined by the Trustee, of the bid
and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its
principal amount) quoted in writing to the Trustee by such Reference Treasury Dealer as of 3:30
p.m., New York City time, on the third business day preceding such Redemption Date.

          “Remaining Scheduled Payments” means, with respect to any Note to be redeemed, the
remaining scheduled payments of the principal of and premium, if any, and interest thereon that
would be due after the related Redemption Date but for such redemption; provided,
however, that, if such Redemption Date is not an interest payment date with respect to such
note, the amount of the next scheduled interest payment thereon will be reduced by the amount of
interest accrued thereon to such Redemption Date.

          “Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal
to the semi-annual equivalent yield to maturity (computed as of the third Business Day immediately
preceding that Redemption Date) of the Comparable Treasury Issue. In determining this rate, the
Company will assume a price for the Comparable Treasury Issue (expressed as a percentage of its
principal amount) equal to the Comparable Treasury Price for such Redemption Date.

          Except as set forth above and in Section 5 of the Notes, the Notes shall not be redeemable by
the Company prior to maturity.

          The Notes shall not be entitled to the benefit of any sinking fund.

B-5

 

7. Notice of Redemption

          At least 30 days but not more than 60 days before a date for redemption of Notes of this
series, the Company shall mail a notice of redemption by first-class mail to each Holder of Notes
to be redeemed at its registered address. Notes in denominations of principal amount larger than
$2,000 may be redeemed in part but only in integral multiples of $1,000 in excess thereof. If
money sufficient to pay the redemption price of and accrued and unpaid interest on all Notes (or
portions thereof) to be redeemed on the Redemption Date is deposited with the Paying Agent on or
before 11:00 a.m. (New York City time) on the Redemption Date (or, if the Company or any of its
Subsidiaries is the Paying Agent, such money is segregated and held in trust) and certain other
conditions are satisfied, on and after such date interest shall cease to accrue on such Notes (or
such portions thereof) called for redemption.

8. Registration Rights

          The Company is party to a Registration Rights Agreement, dated as of November 20, 2006, among
the Company, the Subsidiary Guarantors, Citigroup Global Markets Inc. and J.P. Morgan Securities
Inc. and the other Initial Purchasers named therein, pursuant to which it is obligated to pay
Additional Interest upon the occurrence of certain events specified in the Registration Rights
Agreement.

9. Denominations; Transfer; Exchange

          The Notes are in fully registered form without coupons in denominations of principal amount of
$2,000 and integral multiples of $1,000 in excess thereof. A Holder may register, transfer or
exchange Notes in accordance with the Indenture. The Registrar may require a Holder, among other
things, to furnish appropriate endorsements or transfer documents and to pay any taxes and fees
required by law or permitted by the Indenture. The Registrar need not register the transfer of or
exchange any Notes selected for redemption (except, in the case of a Note to be redeemed in part,
the portion of the Note not to be redeemed) for a period beginning 15 days before the mailing of a
notice of redemption of Notes to be redeemed and ending on the date of such mailing.

10. Persons Deemed Owners

          The registered holder of this Note shall be treated as the owner of it for all purposes.

11. Unclaimed Money

          If money for the payment of principal or interest remains unclaimed for two years after the
date of payment of principal and interest, the Trustee or Paying Agent shall pay the money back to
the Company at its request. After any such payment, Holders entitled to the money must look only
to the Company and not to the Trustee for payment.

B-6

 

12. Defeasance

          Subject to certain conditions set forth in the Indenture, the Company at any time may
terminate some or all of its obligations under the Notes of this series and the Indenture as it
relates to the Notes of this series if the Company deposits with the Trustee money or U.S.
Government Obligations for the payment of principal of and interest on the Notes to redemption or
maturity, as the case may be.

13. Amendment, Waiver

          Subject to certain exceptions set forth in the Indenture, (i) the Indenture or the Notes may
be amended with the written consent of the Holders of at least a majority in principal amount of
the outstanding Notes and (ii) any default or noncompliance with any provision of the Indenture or
the Notes may be waived with the written consent of the Holders of a majority in principal amount
of the outstanding Notes (including consents obtained in connection with a tender offer or exchange
for Notes). However, the Indenture requires the consent of each Noteholder that would be affected
for certain specified amendments or modifications of the Indenture and the Notes. Subject to
certain exceptions set forth in the Indenture, without the consent of any Noteholder, the Company
and the Trustee may amend the Indenture or the Notes, among other things, to cure any ambiguity,
omission, defect or inconsistency, or to evidence the succession of another Person to the Company
or any Subsidiary Guarantor and the assumption by any such Person of the obligations of the Company
or such Subsidiary Guarantor in accordance with Article V of the Indenture, or to add any
additional Events of Default, or to add to the covenants of the Company or surrender rights and
powers conferred on the Company, or to add one or more guarantees for the benefit of the Holders of
the Notes, or to evidence the release of any Subsidiary Guarantor from its guarantee of the notes
in accordance with the Indenture, or to add collateral security with respect to the Notes or any
Guarantee, or to add or appoint a successor or separate trustee or other agent, or to provide for
the issuance of the Exchange Notes in accordance with the Indenture, or to provide for the issuance
of Additional Notes, or to comply with any requirements in connection with qualifying the Indenture
under the Trust Indenture Act, or to comply with the rules of any applicable securities depository,
or to provide for uncertificated Notes in addition to or in place of certificated Notes, or to
change any other provision if the change does not adversely affect the interests of any Noteholder.

14. Defaults and Remedies

          Under the Indenture, Events of Default include (i) default for 30 days in payment of interest
on the Notes of this series; (ii) default in payment of principal on the Notes of this series at
its stated maturity, upon optional redemption or otherwise; (iii) failure by the Company to
repurchase Notes of this series tendered for repurchase following a Change of Control Repurchase
Event, (iv) failure by the Company to comply with any covenant or agreement in the Indenture or the
Notes, subject to notice and lapse of time; (v) failure to make any payment at maturity, including
any applicable grace period, in respect of Indebtedness of the Company or any of its Subsidiaries
(other than Indebtedness of the Company or of any of its Subsidiaries owing to the Company or any
of its Subsidiaries) with an aggregate principal amount then outstanding in excess of $30,000,000,
subject to certain conditions; (vi) default in respect of other Indebtedness of the Company or any
of its Subsidiaries (other than Indebtedness of the Company or of any of its Subsidiaries owing to
the Company or any of its Subsidiaries) in an

B-7

 

amount in excess of $30,000,000, which results in the acceleration of such Indebtedness,
subject to certain conditions; (vii) certain events of bankruptcy or insolvency involving the
Company or any Subsidiary Guarantor; and (viii) the Guarantee of any Subsidiary Guarantor ceases to
be in full force an effect during its term or any Subsidiary Guarantor denies or disaffirms in
writing its obligations under the Indenture or its Guarantee, other than in connection with the
termination of such Guarantee pursuant to the provisions of the Indenture.

          If an Event of Default occurs and is continuing with respect to Notes of this series, the
Trustee or the Holders of at least 25% in aggregate principal amount of the Notes of this series
may declare all the Notes of this series to be due and payable immediately. Certain events of
bankruptcy or insolvency involving the Company are Events of Default which will result in the Notes
of this series being due and payable immediately upon the occurrence of such Events of Default.

          Noteholders may not enforce the Indenture or the Notes except as provided in the Indenture.
The Trustee may refuse to enforce the Indenture or the Notes unless it receives indemnity or
security satisfactory to it. Subject to certain limitations, Holders of a majority in principal
amount of the Notes of this series may direct the Trustee in its exercise of any trust or power.
The Trustee may withhold from Noteholders notice of any continuing Default or Event of Default
(except a Default or Event of Default in payment of principal or interest) if it in good faith
determines that withholding notice is not opposed to their interest.

15. Trustee Dealings with the Company

          Subject to certain limitations set forth in the Indenture, the Trustee under the Indenture, in
its individual or any other capacity, may become the owner or pledgee of Notes and may otherwise
deal with and collect obligations owed to it by the Company and may otherwise deal with the Company
with the same rights it would have if it were not Trustee.

16. No Recourse Against Others

          A director, officer, employee or stockholder (other than the Company), as such, of the Company
shall not have any liability for any obligations of the Company under the Notes, the Indenture or
the Registration Rights Agreement or for any claim based on, in respect of or by reason of such
obligations or their creation. By accepting a Note, each Noteholder waives and releases all such
liability. The waiver and release are part of the consideration for the issue of the Notes.

17. Authentication

          This Note shall not be valid until an authorized signatory of the Trustee (or an
authenticating agent acting on its behalf) manually signs the certificate of authentication on the
other side of this Note.

18. Abbreviations

          Customary abbreviations may be used in the name of a Noteholder or an assignee, such as TEN
COM (tenants in common), TEN ENT (tenants by the entirety), JT TEN (joint
tenants with rights of survivorship and not as tenants in common), CUST (custodian) and
U/G/M/A (Uniform Gift to Minors Act).

B-8

 

19. CUSIP and ISIN Numbers

          The Company has caused CUSIP and ISIN numbers and/or other similar numbers to be printed on
the Notes and has directed the Trustee to use CUSIP and ISIN numbers and/or other similar numbers
in notices of redemption as a convenience to Noteholders. 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.

20. Governing Law

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

B-9

 

ASSIGNMENT FORM

To assign this Note, fill in the form below:

I or we assign and transfer this Note to

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

(Insert assignee’s Social Security or Tax I.D. No.)

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

      

	 	 	 	 	 	 	 	 	 	 	 
	Date:

	 	 	 	 	 	Your Signature:	 	 	 	 
	 

	 	 

	 	 	 	 	 	 

	 	 

Signature Guarantee:                                         

(Signature must be guaranteed by a participant in a recognized Signature Guarantee Medallion
Program or other signature guarantor program reasonably acceptable to the Trustee)

Sign exactly as your name appears on the other side of this Note.

In connection with any transfer or exchange of any of the certificated Notes evidenced by this
certificate occurring prior to the date that is two years after the later of the date of original
issuance of such Notes and the last date, if any, on which such Notes were owned by the Company or
any Affiliate of the Company, the undersigned confirms that such Notes are being transferred:

CHECK ONE BOX BELOW:

	 	 	 
	(1)o

	 	to the Company; or
	 
	 	 
	(2)o

	 	pursuant to a registration statement that has been declared effective
under the Securities Act; or
	 
	 	 
	(3)o

	 	for so long as the Notes are eligible for resale pursuant to Rule 144A
under the Securities Act, to a person it reasonably believes is a
“Qualified Institutional Buyer” as defined in Rule 144A under the
Securities Act that purchases for its own account or for the account
of a Qualified Institutional Buyer to whom notice is given that the
transfer is being made in reliance on Rule 144A; or
	 
	 	 
	(4)o

	 	pursuant to the offers and sales that occur outside the United States
within the meaning of Regulation S under the Securities Act; or
	 
	 	 
	(5)o

	 	to an institutional accredited investor (within the meaning of Rule
501(a)(1), (2), (3) or (7) under the Securities Act) that is not a
qualified institutional buyer and that is purchasing for its own
account or for the account of another

B-10

 

	 	 	 
	 

	 	institutional accredited
investor, in each case in a minimum principal amount of notes of
$250,000 and not with a view to or for offeror sale in connection with
any distribution in violation of the Securities Act; or
	 
	 	 
	(6)o

	 	under any other available exemption from the registration requirements
of the Securities Act.

Unless one of the boxes is checked, the Trustee may refuse to register any of the certificated
Notes evidenced by this certificate in the name of any Person other than the registered holder
thereof; provided, however, that if box (4), (5) or (6) is checked, the Company and
the Trustee may require, prior to registering any such transfer of the Notes, the delivery of a
legal opinion, certifications and/or other information satisfactory to the Company and the Trustee.

	 	 	 	 	 
	 

	 	 	 	 
	 

	 	 	 	Signature
	 
	 	 	 	 
	Signature Guarantee:
	 	 	 	 
	 
	 	 	 	 
	 

	 	 	 	 
	 

	 	 	 	Signature
	(Signature must be guaranteed by a
participant in a recognized Signature
Guarantee Medallion Program or other
signature guarantor program reasonably
acceptable to the Trustee)
	 	 	 	 

      

B-11

 

TO BE COMPLETED BY PURCHASER IF BOX (3) ABOVE IS CHECKED.

          The undersigned represents and warrants that it is purchasing this certificated Note for its
own account or an account with respect to which it exercises sole investment discretion and that it
and any such account is a “qualified institutional buyer” within the meaning of Rule 144A under the
Securities Act of 1933, and is aware that the sale to it is being made in reliance on Rule 144A and
acknowledges that it has received such information regarding the Company as the undersigned has
requested pursuant to Rule 144A or has determined not to request such information and that it is
aware that the transferor is relying upon the undersigned’s foregoing representations in order to
claim the exemption from registration provided by Rule 144A.

	 	 	 	 	 	 	 	 	 
	Dated:
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	 	 	NOTICE:
	 	To be executed by an executive officer

	 	 	 	 	 
	Signature Guarantee:
	 	 	 	 
	 
	 	 	 	 
	 

	 	 	 	 
	 

	 	 	 	Signature
	(Signature must be guaranteed by a
participant in a recognized Signature
Guarantee Medallion Program or other
signature guarantor program reasonably
acceptable to the Trustee)
	 	 	 	 

      

B-12

 

[TO BE ATTACHED TO GLOBAL SECURITIES]

SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTE

The following increases or decreases in this Global Note have been made:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Principal Amount of this Global	 	 	Signature of authorized	 
	Date of	 	Amount of decrease in Principal	 	 	Amount of decrease in Principal	 	 	Note following such decrease or	 	 	signatory of Trustee or	 
	Exchange
 
	 	Amount of this Global Note
 
	 	 	Amount of this Global Note
 
	 	 	increase
 
	 	 	Securities Custodian
 
	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

B-13

 

EXHIBIT C

[FORM OF FACE OF EXCHANGE NOTE]

RELIANCE STEEL & ALUMINUM CO.

6.200% SENIOR NOTES DUE 2016

	 	 	 
	No. ___

	 	Principal Amount $              
          
                

(subject to adjustment as reflected in the Schedule of Increases
and Decreases in Global Note attached hereto)

	 	 	 	 	 
	 

	 	CUSIP NO.	 	 
	 

	 	 	 	 
	 

	 	ISIN NO.	 	 
	 

	 	 	 	 

          Reliance Steel & Aluminum Co., a California corporation, for value received, promises to pay
to                     , or registered assigns, the principal sum of                      Dollars (subject to
adjustment as reflected in the Schedule of Increases and Decreases in Global Note attached hereto)
on November 15, 2016.

          Interest Payment Dates: May 15 and November 15 of each year, commencing on [May 15,
2007][first interest payment date relating to any Additional Notes].

          Record Dates: May 1 and November 1 of each year.

          Additional provisions of this Note are set forth on the other side of this Note.

C-1

 

          IN WITNESS WHEREOF, RELIANCE STEEL & ALUMINUM CO. has caused this Note to be duly executed.

Dated:                      ___, ___

	 	 	 	 	 
	 	 	RELIANCE STEEL & ALUMINUM CO.
	 
	 	 	 	 
	 

	 	By	 	 
	 

	 	 	 	 
	 

	 	 	 	Name:
	 

	 	 	 	Title:

TRUSTEE’S CERTIFICATE OF

  AUTHENTICATION

This is one of the Notes referred

to in the within-mentioned Indenture.

WELLS FARGO BANK, NATIONAL ASSOCIATION,

   as Trustee

By                      
              
                        

  Authorized Signatory

Dated:                      ___, ___

C-2

 

[FORM OF REVERSE SIDE OF EXCHANGE NOTE]

[Reverse of 2016 Note]

6.200% Senior Notes due 2016

1. Interest

          Reliance Steel & Aluminum Co., a California corporation (together with its successors and
assigns under the Indenture hereinafter referred to, being herein called the “Company”),
promises to pay interest on the principal amount of this Note at the rate of 6.200% per annum.

          The Company shall pay interest semiannually on May 15 and November 15 of each year (each such
date, an “Interest Payment Date”), commencing on May 15, 2007. Interest on the Notes shall
accrue from [November 20, 2006] [date of issuance of any Notes], or from the most recent date to
which interest has been paid on the Notes. Interest shall be computed on the basis of a 360-day
year comprised of twelve 30-day months.

2. Method of Payment

          By no later than 11:00 a.m. (New York City time) on the date on which any principal of or
interest on any Note is due and payable, the Company shall irrevocably deposit with the Trustee or
the Paying Agent money sufficient to pay such principal and/or interest. The Company shall pay
interest (except defaulted interest) to the Persons who are registered Holders of Notes at the
close of business on the May 1 or November 1 immediately preceding the Interest Payment Date even
if Notes are cancelled, repurchased or redeemed after the record date and on or before the Interest
Payment Date. Holders must surrender Notes to a Paying Agent to collect principal payments. The
Company shall pay principal and interest in money of the United States that at the time of payment
is legal tender for payment of public and private debts. Payments in respect of Notes represented
by a Global Note (including principal, premium, if any, and interest) shall be made by the transfer
of immediately available funds to the accounts specified by The Depository Trust Company. The
Company may make all payments in respect of a Definitive Note (including principal, premium, if
any, and interest) by mailing a check to the registered address of each Holder thereof or by wire
transfer to an account located in the United States maintained by the payee.

3. Paying Agent and Registrar

          Wells Fargo Bank, National Association, a national banking association (the
“Trustee”), shall initially act as Paying Agent and Registrar. The Company may appoint and
change any Paying Agent or Registrar without notice to any Noteholder. The Company or any of its
domestically organized wholly owned Subsidiaries may act as Paying Agent.

C-3

 

4. Indenture

          The Company issued the 2016 Notes under an Indenture dated as of November 20, 2006 (as it may
be amended or supplemented from time to time in accordance with the terms thereof, the
“Indenture”), among the Company, the Subsidiary Guarantors 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 (15 U.S.C. §§ 77aaa-77bbbb) as in effect on the date of
the Indenture (the “Trust Indenture Act”). Terms used herein and not defined herein have
the meanings ascribed thereto in the Indenture. The Notes are subject to all such terms, and
Noteholders are referred to the Indenture and the Trust Indenture Act for a statement of those
terms. To the extent any provision of this Note conflicts with the express provisions of the
Indenture, the provisions of the Indenture shall govern and be controlling.

          The Notes are senior unsecured obligations of the Company. The Note is one of the Exchange
Notes referred to in the Indenture. The Notes include the Initial Notes issued on the Issue Date,
any Additional Notes issued in accordance with Section 2.15 of the Indenture and any Exchange Notes
issued in exchange for the Initial Notes or Additional Notes pursuant to the Indenture and the
Registration Rights Agreement. The Initial Notes, any Additional Notes and the Exchange Notes are
treated as a single class of securities under the Indenture. The Indenture imposes certain
limitations on the ability of the Company and its Subsidiaries to create liens, enter into sale and
leaseback transactions and enter into mergers and consolidations.

          The Notes are guaranteed to the extent provided in the Indenture.

5. Change of Control Repurchase Event

          Upon the occurrence of a Change of Control Repurchase Event, the Company will be required to
make an offer to each Holder to repurchase all or any part (in excess of $2,000 and in integral
multiples of $1,000) of such Holder’s Notes at a purchase price in cash equal to 101% of the
principal amount thereof on the date of purchase plus accrued and unpaid interest to, but not
including, the date of purchase, in accordance with the terms contemplated in Section 4.4 of the
Indenture.

6. Optional Redemption

          The Notes shall be redeemable, in whole or in part, at any time and from time to time, at the
option of the Company, at a redemption price equal to the greater of (i) 100% of the principal
amount of such Notes and (ii) the sum of the present values of the Remaining Scheduled Payments
thereon (exclusive of interest accrued to the date of redemption) discounted to the Redemption Date
on a semiannual basis (assuming a 360-day year comprised of twelve 30-day months) at the Treasury
Rate plus 0.25% (25 basis points) (the “Make-Whole Amount”), plus accrued and unpaid
interest thereon to, but not including, the Redemption Date.

          “Comparable Treasury Issue” means the United States Treasury security selected by an
Independent Investment Banker as having an actual or interpolated maturity comparable to the
remaining term of the Notes to be redeemed that would be utilized, at the time of selection and in
accordance with customary financial practice, in pricing new issues of corporate debt securities of
comparable maturity to the remaining term of such Notes.

C-4

 

          “Comparable Treasury Price” means, with respect to any Redemption Date, (1) the
arithmetic average of the Reference Treasury Dealer Quotations for such Redemption Date after
excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Trustee
obtains fewer than four Reference Treasury Dealer Quotations, the arithmetic average of all
Reference Treasury Dealer Quotations for such Redemption Date.

          “Independent Investment Banker” means Citigroup Global Markets Inc., J.P. Morgan
Securities Inc. or their respective successors as may be appointed from time to time by the Trustee
after consultation with the Company; provided, however, that if any of the
foregoing ceases to be a Primary Treasury Dealer, the Company will substitute another Primary
Treasury Dealer.

          “Reference Treasury Dealer” means Citigroup Global Markets Inc., J.P. Morgan
Securities Inc. or two other Primary Treasury Dealers selected by the Company, and each of their
respective successors and any other Primary Treasury Dealers selected by the Trustee after
consultation with the Company.

          “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury
Dealer and any Redemption Date, the arithmetic average, as determined by the Trustee, of the bid
and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its
principal amount) quoted in writing to the Trustee by such Reference Treasury Dealer as of 3:30
p.m., New York City time, on the third business day preceding such Redemption Date.

          “Remaining Scheduled Payments” means, with respect to any Note to be redeemed, the
remaining scheduled payments of the principal of and premium, if any, and interest thereon that
would be due after the related Redemption Date but for such redemption; provided,
however, that, if such Redemption Date is not an interest payment date with respect to such
note, the amount of the next scheduled interest payment thereon will be reduced by the amount of
interest accrued thereon to such Redemption Date.

          “Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal
to the semi-annual equivalent yield to maturity (computed as of the third Business Day immediately
preceding that Redemption Date) of the Comparable Treasury Issue. In determining this rate, the
Company will assume a price for the Comparable Treasury Issue (expressed as a percentage of its
principal amount) equal to the Comparable Treasury Price for such Redemption Date.

          Except as set forth above and in Section 5 of the Notes, the Notes shall not be redeemable by
the Company prior to maturity.

          The Notes shall not be entitled to the benefit of any sinking fund.

7. Notice of Redemption

     At least 30 days but not more than 60 days before a date for redemption of Notes of this
series, the Company shall mail a notice of redemption by first-class mail to each Holder of Notes
to be redeemed at its registered address. Notes in denominations of principal amount

C-5

 

larger than $2,000 may be redeemed in part but only in integral multiples of $1,000 in excess
thereof. If money sufficient to pay the redemption price of and accrued and unpaid interest on all
Notes (or portions thereof) to be redeemed on the Redemption Date is deposited with the Paying
Agent on or before 11:00 a.m. (New York City time) on the Redemption Date (or, if the Company or
any of its Subsidiaries is the Paying Agent, such money is segregated and held in trust) and
certain other conditions are satisfied, on and after such date interest shall cease to accrue on
such Notes (or such portions thereof) called for redemption.

8. Denominations; Transfer; Exchange

          The Notes are in fully registered form without coupons in denominations of principal amount of
$2,000 and integral multiples of $1,000 in excess thereof. A Holder may register transfer or
exchange Notes in accordance with the Indenture. The Registrar may require a Holder, among other
things, to furnish appropriate endorsements or transfer documents and to pay any taxes and fees
required by law or permitted by the Indenture. The Registrar need not register the transfer of or
exchange any Notes selected for redemption (except, in the case of a Note to be redeemed in part,
the portion of the Note not to be redeemed) for a period beginning 15 days before the mailing of a
notice of redemption of Notes to be redeemed and ending on the date of such mailing.

9. Persons Deemed Owners

          The registered holder of this Note shall be treated as the owner of it for all purposes.

10. Unclaimed Money

          If money for the payment of principal or interest remains unclaimed for two years after the
date of payment of principal and interest, the Trustee or Paying Agent shall pay the money back to
the Company at its request. After any such payment, Holders entitled to the money must look only
to the Company and not to the Trustee for payment.

11. Defeasance

          Subject to certain conditions set forth in the Indenture, the Company at any time may
terminate some or all of its obligations under the Notes of this series and the Indenture as it
relates to the Notes of this series if the Company deposits with the Trustee money or U.S.
Government Obligations for the payment of principal of and interest on the Notes to redemption or
maturity, as the case may be.

12. Amendment, Waiver

          Subject to certain exceptions set forth in the Indenture, (i) the Indenture or the Notes may
be amended with the written consent of the Holders of at least a majority in principal amount of
the outstanding Notes and (ii) any default or noncompliance with any provision of the Indenture or
the Notes may be waived with the written consent of the Holders of a majority in principal amount
of the outstanding Notes (including consents obtained in connection with a tender offer or exchange
for Notes). However, the Indenture requires the consent of each

C-6

 

Noteholder that would be affected for certain specified amendments or modifications of the
Indenture and the Notes. Subject to certain exceptions set forth in the Indenture, without the
consent of any Noteholder, the Company and the Trustee may amend the Indenture or the Notes, among
other things, to cure any ambiguity, omission, defect or inconsistency, or to evidence the
succession of another Person to the Company or any Subsidiary Guarantor and the assumption by any
such Person of the obligations of the Company or such Subsidiary Guarantor in accordance with
Article V of the Indenture, or to add any additional Events of Default, or to add to the covenants
of the Company or surrender rights and powers conferred on the Company, or to add one or more
guarantees for the benefit of the Holders of the Notes, or to evidence the release of any
Subsidiary Guarantor from its guarantee of the notes in accordance with the Indenture, or to add
collateral security with respect to the Notes or any Guarantee, or to add or appoint a successor or
separate trustee or other agent, or to provide for the issuance of the Exchange Notes in accordance
with the Indenture, or to provide for the issuance of Additional Notes, or to comply with any
requirements in connection with qualifying the Indenture under the Trust Indenture Act, or to
comply with the rules of any applicable securities depository, or to provide for uncertificated
Notes in addition to or in place of certificated Notes, or to change any other provision if the
change does not adversely affect the interests of any Noteholder.

13. Defaults and Remedies

          Under the Indenture, Events of Default include (i) default for 30 days in payment of interest
on the Notes of this series; (ii) default in payment of principal on the Notes of this series at
its stated maturity, upon optional redemption or otherwise; (iii) failure by the Company to
repurchase Notes of this series tendered for repurchase following a Change of Control Repurchase
Event, (iv) failure by the Company to comply with any covenant or agreement in the Indenture or the
Notes, subject to notice and lapse of time; (v) failure to make any payment at maturity, including
any applicable grace period, in respect of Indebtedness of the Company or any of its Subsidiaries
(other than Indebtedness of the Company or of any of its Subsidiaries owing to the Company or any
of its Subsidiaries) with an aggregate principal amount then outstanding in excess of $30,000,000,
subject to certain conditions; (vi) default in respect of other Indebtedness of the Company or any
of its Subsidiaries (other than Indebtedness of the Company or of any of its Subsidiaries owing to
the Company or any of its Subsidiaries) in an amount in excess of $30,000,000, which results in the
acceleration of such Indebtedness, subject to certain conditions; (vii) certain events of
bankruptcy or insolvency involving the Company or any Subsidiary Guarantor; and (viii) the
Guarantee of any Subsidiary Guarantor ceases to be in full force an effect during its term or any
Subsidiary Guarantor denies or disaffirms in writing its obligations under the Indenture or its
Guarantee, other than in connection with the termination of such Guarantee pursuant to the
provisions of the Indenture.

          If an Event of Default occurs and is continuing with respect to Notes of this series, the
Trustee or the Holders of at least 25% in aggregate principal amount of the Notes of this series
may declare all the Notes of this series to be due and payable immediately. Certain events of
bankruptcy or insolvency involving the Company are Events of Default which will result in the Notes
of this series being due and payable immediately upon the occurrence of such Events of Default.

C-7

 

          Noteholders may not enforce the Indenture or the Notes except as provided in the Indenture.
The Trustee may refuse to enforce the Indenture or the Notes unless it receives indemnity or
security satisfactory to it. Subject to certain limitations, Holders of a majority in principal
amount of the Notes of this series may direct the Trustee in its exercise of any trust or power.
The Trustee may withhold from Noteholders notice of any continuing Default or Event of Default
(except a Default or Event of Default in payment of principal or interest) if it in good faith
determines that withholding notice is not opposed to their interest.

14. Trustee Dealings with the Company

          Subject to certain limitations set forth in the Indenture, the Trustee under the Indenture, in
its individual or any other capacity, may become the owner or pledgee of Notes and may otherwise
deal with and collect obligations owed to it by the Company and may otherwise deal with the Company
with the same rights it would have if it were not Trustee.

15. No Recourse Against Others

          A director, officer, employee or stockholder (other than the Company), as such, of the Company
shall not have any liability for any obligations of the Company under the Notes, the Indenture or
the Registration Rights Agreement or for any claim based on, in respect of or by reason of such
obligations or their creation. By accepting a Note, each Noteholder waives and releases all such
liability. The waiver and release are part of the consideration for the issue of the Notes.

16. Authentication

          This Note shall not be valid until an authorized signatory of the Trustee (or an
authenticating agent acting on its behalf) manually signs the certificate of authentication on the
other side of this Note.

17. Abbreviations

          Customary abbreviations may be used in the name of a Noteholder or an assignee, such as TEN
COM (tenants in common), TEN ENT (tenants by the entirety), JT TEN (joint tenants with rights of
survivorship and not as tenants in common), CUST (custodian) and U/G/M/A (Uniform Gift to Minors
Act).

18. CUSIP and ISIN Numbers

          The Company has caused CUSIP and ISIN numbers and/or other similar numbers to be printed on
the Notes and has directed the Trustee to use CUSIP and ISIN numbers and/or other similar numbers
in notices of redemption as a convenience to Noteholders. 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.

C-8

 

19. Governing Law

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

C-9

 

ASSIGNMENT FORM

               To assign this Note, fill in the form below:

               I or we assign and transfer this Note to

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

(Insert assignee’s Social Security or Tax I.D. No.)

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

 

	 	 	 	 	 	 	 	 	 
	Date:

	 	 	 	Your Signature:
	 	 	 	 
	 

	 	 
	 	 	 	 	 	 

	 	 	 
	Signature Guarantee:
	 	 
	 

	 	 
	(Signature must be guaranteed by a participant in a recognized Signature
Guarantee Medallion Program or other signature guarantor program reasonably
acceptable to the Trustee)

 

Sign exactly as your name appears on the other side of this Note.

C-10

 

EXHIBIT D

[FORM OF FACE OF EXCHANGE NOTE]

RELIANCE STEEL & ALUMINUM CO.

6.850% SENIOR NOTES DUE 2036

	 	 	 
	No. ___

	 	Principal Amount $                 
                       

(subject to adjustment as reflected in the Schedule of Increases
and Decreases in Global Note attached hereto)

	 	 	 	 	 
	 

	 	CUSIP NO.	 	 
	 

	 	 	 	 
	 

	 	ISIN NO.	 	 
	 

	 	 	 	 

          Reliance Steel & Aluminum Co., a California corporation, for value received, promises to pay
to                     , or registered assigns, the principal sum of      
                Dollars (subject to
adjustment as reflected in the Schedule of Increases and Decreases in Global Note attached hereto)
on November 15, 2036.

          Interest Payment Dates: May 15 and November 15 of each year, commencing on [May 15,
2007][first interest payment date relating to any Additional Notes].

          Record Dates: May 1 and November 1 of each year.

          Additional provisions of this Note are set forth on the other side of this Note.

D-1

 

          IN WITNESS WHEREOF, RELIANCE STEEL & ALUMINUM CO. has caused this Note to be duly executed.

Dated:                      ___, ___

	 	 	 	 	 
	 	 	RELIANCE STEEL & ALUMINUM CO.
	 
	 	 	 	 
	 

	 	By	 	 
	 

	 	 	 	 
	 

	 	 	 	Name:
	 

	 	 	 	Title:

TRUSTEE’S CERTIFICATE OF

  AUTHENTICATION

This is one of the Notes referred

to in the within-mentioned Indenture.

WELLS FARGO BANK, NATIONAL ASSOCIATION,

  as Trustee

By                        
                                    

  Authorized Signatory

Dated:                      ___, ___

D-2

 

[FORM OF REVERSE SIDE OF EXCHANGE NOTE]

[Reverse of 2036 Note]

6.850% Senior Notes due 2036

1. Interest

          Reliance Steel & Aluminum Co., a California corporation (together with its successors and
assigns under the Indenture hereinafter referred to, being herein called the “Company”),
promises to pay interest on the principal amount of this Note at the rate of 6.850% per annum.

          The Company shall pay interest semiannually on May 15 and November 15 of each year (each such
date, an “Interest Payment Date”), commencing on May 15, 2007. Interest on the Notes shall
accrue from [November 20, 2006] [date of issuance of any Notes], or from the most recent date to
which interest has been paid on the Notes. Interest shall be computed on the basis of a 360-day
year comprised of twelve 30-day months.

2. Method of Payment

          By no later than 11:00 a.m. (New York City time) on the date on which any principal of or
interest on any Note is due and payable, the Company shall irrevocably deposit with the Trustee or
the Paying Agent money sufficient to pay such principal and/or interest. The Company shall pay
interest (except defaulted interest) to the Persons who are registered Holders of Notes at the
close of business on the May 1 or November 1 immediately preceding the Interest Payment Date even
if Notes are cancelled, repurchased or redeemed after the record date and on or before the Interest
Payment Date. Holders must surrender Notes to a Paying Agent to collect principal payments. The
Company shall pay principal and interest in money of the United States that at the time of payment
is legal tender for payment of public and private debts. Payments in respect of Notes represented
by a Global Note (including principal, premium, if any, and interest) shall be made by the transfer
of immediately available funds to the accounts specified by The Depository Trust Company. The
Company may make all payments in respect of a Definitive Note (including principal, premium, if
any, and interest) by mailing a check to the registered address of each Holder thereof or by wire
transfer to an account located in the United States maintained by the payee.

3. Paying Agent and Registrar

          Wells Fargo Bank, National Association, a national banking association (the
“Trustee”), shall initially act as Paying Agent and Registrar. The Company may appoint and
change any Paying Agent or Registrar without notice to any Noteholder. The Company or any of its
domestically organized wholly owned Subsidiaries may act as Paying Agent.

D-3

 

4. Indenture

          The Company issued the 2036 Notes under an Indenture dated as of November 20, 2006 (as it may
be amended or supplemented from time to time in accordance with the terms thereof, the
“Indenture”), among the Company, the Subsidiary Guarantors 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 (15 U.S.C. §§ 77aaa-77bbbb) as in effect on the date of
the Indenture (the “Trust Indenture Act”). Terms used herein and not defined herein have
the meanings ascribed thereto in the Indenture. The Notes are subject to all such terms, and
Noteholders are referred to the Indenture and the Trust Indenture Act for a statement of those
terms. To the extent any provision of this Note conflicts with the express provisions of the
Indenture, the provisions of the Indenture shall govern and be controlling.

          The Notes are senior unsecured obligations of the Company. The Note is one of the Exchange
Notes referred to in the Indenture. The Notes include the Initial Notes issued on the Issue Date,
any Additional Notes issued in accordance with Section 2.15 of the Indenture and any Exchange Notes
issued in exchange for the Initial Notes or Additional Notes pursuant to the Indenture and the
Registration Rights Agreement. The Initial Notes, any Additional Notes and the Exchange Notes are
treated as a single class of securities under the Indenture. The Indenture imposes certain
limitations on the ability of the Company and its Subsidiaries to create liens, enter into sale and
leaseback transactions and enter into mergers and consolidations.

          The Notes are guaranteed to the extent provided in the Indenture.

5. Change of Control Repurchase Event

          Upon the occurrence of a Change of Control Repurchase Event, the Company will be required to
make an offer to each Holder to repurchase all or any part (in excess of $2,000 and in integral
multiples of $1,000) of such Holder’s Notes at a purchase price in cash equal to 101% of the
principal amount thereof on the date of purchase plus accrued and unpaid interest to, but not
including, the date of purchase, in accordance with the terms contemplated in Section 4.4 of the
Indenture.

6. Optional Redemption

          The Notes shall be redeemable, in whole or in part, at any time and from time to time, at the
option of the Company, at a redemption price equal to the greater of (i) 100% of the principal
amount of such Notes and (ii) the sum of the present values of the Remaining Scheduled Payments
thereon (exclusive of interest accrued to the date of redemption) discounted to the Redemption Date
on a semiannual basis (assuming a 360-day year comprised of twelve 30-day months) at the Treasury
Rate plus 0.35% (35 basis points) (the “Make-Whole Amount”), plus accrued and unpaid
interest thereon to the Redemption Date.

          “Comparable Treasury Issue” means the United States Treasury security selected by an
Independent Investment Banker as having an actual or interpolated maturity comparable to the
remaining term of the Notes to be redeemed that would be utilized, at the time of selection and in
accordance with customary financial practice, in pricing new issues of corporate debt securities of
comparable maturity to the remaining term of such Notes.

D-4

 

          “Comparable Treasury Price” means, with respect to any Redemption Date, (1) the
arithmetic average of the Reference Treasury Dealer Quotations for such Redemption Date after
excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Trustee
obtains fewer than four Reference Treasury Dealer Quotations, the arithmetic average of all
Reference Treasury Dealer Quotations for such Redemption Date.

          “Independent Investment Banker” means Citigroup Global Markets Inc., J.P. Morgan
Securities Inc. or their respective successors as may be appointed from time to time by the Trustee
after consultation with the Company; provided, however, that if any of the
foregoing ceases to be a Primary Treasury Dealer, the Company will substitute another Primary
Treasury Dealer.

          “Reference Treasury Dealer” means Citigroup Global Markets Inc., J.P. Morgan
Securities Inc. or two other Primary Treasury Dealers selected by the Company, and each of their
respective successors and any other Primary Treasury Dealers selected by the Trustee after
consultation with the Company.

          “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury
Dealer and any Redemption Date, the arithmetic average, as determined by the Trustee, of the bid
and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its
principal amount) quoted in writing to the Trustee by such Reference Treasury Dealer as of 3:30
p.m., New York City time, on the third business day preceding such Redemption Date.

          “Remaining Scheduled Payments” means, with respect to any Note to be redeemed, the
remaining scheduled payments of the principal of and premium, if any, and interest thereon that
would be due after the related Redemption Date but for such redemption; provided,
however, that, if such Redemption Date is not an interest payment date with respect to such
note, the amount of the next scheduled interest payment thereon will be reduced by the amount of
interest accrued thereon to such Redemption Date.

          “Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal
to the semi-annual equivalent yield to maturity (computed as of the third Business Day immediately
preceding that Redemption Date) of the Comparable Treasury Issue. In determining this rate, the
Company will assume a price for the Comparable Treasury Issue (expressed as a percentage of its
principal amount) equal to the Comparable Treasury Price for such Redemption Date.

          Except as set forth above and in Section 5 of the Notes, the Notes shall not be redeemable by
the Company prior to maturity.

          The Notes shall not be entitled to the benefit of any sinking fund.

7. Notice of Redemption

          At least 30 days but not more than 60 days before a date for redemption of Notes of this
series, the Company shall mail a notice of redemption by first-class mail to each Holder of Notes
to be redeemed at its registered address. Notes in denominations of principal amount

D-5

 

larger than $2,000 may be redeemed in part but only in integral multiples of $1,000 in excess
thereof. If money sufficient to pay the redemption price of and accrued and unpaid interest on all
Notes (or portions thereof) to be redeemed on the Redemption Date is deposited with the Paying
Agent on or before 11:00 a.m. (New York City time) on the Redemption Date (or, if the Company or
any of its Subsidiaries is the Paying Agent, such money is segregated and held in trust) and
certain other conditions are satisfied, on and after such date interest shall cease to accrue on
such Notes (or such portions thereof) called for redemption.

8. Denominations; Transfer; Exchange

          The Notes are in fully registered form without coupons in denominations of principal amount of
$2,000 and integral multiples of $1,000 in excess thereof. A Holder may register transfer or
exchange Notes in accordance with the Indenture. The Registrar may require a Holder, among other
things, to furnish appropriate endorsements or transfer documents and to pay any taxes and fees
required by law or permitted by the Indenture. The Registrar need not register the transfer of or
exchange any Notes selected for redemption (except, in the case of a Note to be redeemed in part,
the portion of the Note not to be redeemed) for a period beginning 15 days before the mailing of a
notice of redemption of Notes to be redeemed and ending on the date of such mailing.

9. Persons Deemed Owners

          The registered holder of this Note shall be treated as the owner of it for all purposes.

10. Unclaimed Money

          If money for the payment of principal or interest remains unclaimed for two years after the
date of payment of principal and interest, the Trustee or Paying Agent shall pay the money back to
the Company at its request. After any such payment, Holders entitled to the money must look only
to the Company and not to the Trustee for payment.

11. Defeasance

          Subject to certain conditions set forth in the Indenture, the Company at any time may
terminate some or all of its obligations under the Notes of this series and the Indenture as it
relates to Notes of this series if the Company deposits with the Trustee money or U.S. Government
Obligations for the payment of principal of and interest on the Notes to redemption or maturity, as
the case may be.

12. Amendment, Waiver

          Subject to certain exceptions set forth in the Indenture, (i) the Indenture or the Notes may
be amended with the written consent of the Holders of at least a majority in principal amount of
the outstanding Notes and (ii) any default or noncompliance with any provision of the Indenture or
the Notes may be waived with the written consent of the Holders of a majority in principal amount
of the outstanding Notes (including consents obtained in connection with a tender offer or exchange
for Notes). However, the Indenture requires the consent of each

D-6

 

Noteholder that would be affected for certain specified amendments or modifications of the
Indenture and the Notes. Subject to certain exceptions set forth in the Indenture, without the
consent of any Noteholder, the Company and the Trustee may amend the Indenture or the Notes, among
other things, to cure any ambiguity, omission, defect or inconsistency, or to evidence the
succession of another Person to the Company or any Subsidiary Guarantor and the assumption by any
such Person of the obligations of the Company or such Subsidiary Guarantor in accordance with
Article V of the Indenture, or to add any additional Events of Default, or to add to the covenants
of the Company or surrender rights and powers conferred on the Company, or to add one or more
guarantees for the benefit of the Holders of the Notes, or to evidence the release of any
Subsidiary Guarantor from its guarantee of the notes in accordance with the Indenture, or to add
collateral security with respect to the Notes or any Guarantee, or to add or appoint a successor or
separate trustee or other agent, or to provide for the issuance of the Exchange Notes in accordance
with the Indenture, or to provide for the issuance of Additional Notes, or to comply with any
requirements in connection with qualifying the Indenture under the Trust Indenture Act, or to
comply with the rules of any applicable securities depository, or to provide for uncertificated
Notes in addition to or in place of certificated Notes, or to change any other provision if the
change does not adversely affect the interests of any Noteholder.

13. Defaults and Remedies

          Under the Indenture, Events of Default include (i) default for 30 days in payment of interest
on the Notes of this series; (ii) default in payment of principal on the Notes of this series at
its stated maturity, upon optional redemption or otherwise; (iii) failure by the Company to
repurchase Notes of this series tendered for repurchase following a Change of Control Repurchase
Event, (iv) failure by the Company to comply with any covenant or agreement in the Indenture or the
Notes, subject to notice and lapse of time; (v) failure to make any payment at maturity, including
any applicable grace period, in respect of Indebtedness of the Company or any of its Subsidiaries
(other than Indebtedness of the Company or of any of its Subsidiaries owing to the Company or any
of its Subsidiaries) with an aggregate principal amount then outstanding in excess of $30,000,000,
subject to certain conditions; (vi) default in respect of other Indebtedness of the Company or any
of its Subsidiaries (other than Indebtedness of the Company or of any of its Subsidiaries owing to
the Company or any of its Subsidiaries) in an amount in excess of $30,000,000, which results in the
acceleration of such Indebtedness, subject to certain conditions; (vii) certain events of
bankruptcy or insolvency involving the Company or any Subsidiary Guarantor; and (viii) the
Guarantee of any Subsidiary Guarantor ceases to be in full force an effect during its term or any
Subsidiary Guarantor denies or disaffirms in writing its obligations under the Indenture or its
Guarantee, other than in connection with the termination of such Guarantee pursuant to the
provisions of the Indenture.

          If an Event of Default occurs and is continuing with respect to Notes of this series, the
Trustee or the Holders of at least 25% in aggregate principal amount of the Notes of this series
may declare all the Notes of this series to be due and payable immediately. Certain events of
bankruptcy or insolvency involving the Company are Events of Default which will result in the Notes
of this series being due and payable immediately upon the occurrence of such Events of Default.

D-7

 

          Noteholders may not enforce the Indenture or the Notes except as provided in the Indenture.
The Trustee may refuse to enforce the Indenture or the Notes unless it receives indemnity or
security satisfactory to it. Subject to certain limitations, Holders of a majority in principal
amount of the Notes of this series may direct the Trustee in its exercise of any trust or power.
The Trustee may withhold from Noteholders notice of any continuing Default or Event of Default
(except a Default or Event of Default in payment of principal or interest) if it in good faith
determines that withholding notice is not opposed to their interest.

14. Trustee Dealings with the Company

          Subject to certain limitations set forth in the Indenture, the Trustee under the Indenture, in
its individual or any other capacity, may become the owner or pledgee of Notes and may otherwise
deal with and collect obligations owed to it by the Company and may otherwise deal with the Company
with the same rights it would have if it were not Trustee.

15. No Recourse Against Others

          A director, officer, employee or stockholder (other than the Company), as such, of the Company
shall not have any liability for any obligations of the Company under the Notes, the Indenture or
the Registration Rights Agreement or for any claim based on, in respect of or by reason of such
obligations or their creation. By accepting a Note, each Noteholder waives and releases all such
liability. The waiver and release are part of the consideration for the issue of the Notes.

16. Authentication

          This Note shall not be valid until an authorized signatory of the Trustee (or an
authenticating agent acting on its behalf) manually signs the certificate of authentication on the
other side of this Note.

17. Abbreviations

          Customary abbreviations may be used in the name of a Noteholder or an assignee, such as TEN
COM (tenants in common), TEN ENT (tenants by the entirety), JT TEN (joint tenants with rights of
survivorship and not as tenants in common), CUST (custodian) and U/G/M/A (Uniform Gift to Minors
Act).

18. CUSIP and ISIN Numbers

          The Company has caused CUSIP and ISIN numbers and/or other similar numbers to be printed on
the Notes and has directed the Trustee to use CUSIP and ISIN numbers and/or other similar numbers
in notices of redemption as a convenience to Noteholders. 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.

D-8

 

19. Governing Law

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

D-9

 

ASSIGNMENT FORM

               To assign this Note, fill in the form below:

               I or we assign and transfer this Note to

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

(Insert assignee’s Social Security or Tax I.D. No.)

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

 

	 	 	 	 	 	 	 	 	 
	Date:

	 	 	 	Your Signature:
	 	 	 	 
	 

	 	 
	 	 	 	 	 	 

	 	 	 
	Signature Guarantee:
	 	 
	 

	 	 
	(Signature must be guaranteed by a participant in a recognized Signature
Guarantee Medallion Program or other signature guarantor program reasonably
acceptable to the Trustee)

 

Sign exactly as your name appears on the other side of this Note.

D-10

 

EXHIBIT E

REGULATION S CERTIFICATE

(For transfers pursuant to Sections

2.6(a), (c) and (e) of the Indenture)

			
	To:	 	Wells Fargo Bank, National Association,

as Trustee

	 	 	 	 	 
	 

	 	Re:
	 	Reliance Steel & Aluminum Co. – 6.200% Senior Notes

due 2016 (the “Notes”)

          Reference is made to the Indenture, dated as of November 20, 2006 (the “Indenture”),
among Reliance Steel & Aluminum Co. (the “Company”), the Subsidiary Guarantors and Wells
Fargo Bank, as Trustee. Terms used herein and defined in the Indenture or in Regulation S or Rule
144 under the U.S. Securities Act of 1933, as amended (the “Securities Act”) are used
herein as so defined.

          This certificate relates to US$        
             principal amount of Notes, which are evidenced by the
following certificate(s) (the “Specified Notes”):

          CUSIP No(s).

          CERTIFICATE No(s).                
                         

The person in whose name this certificate is executed below (the “undersigned”) hereby
certifies that either (i) it is the sole beneficial owner of the Specified Notes or (ii) it is
acting on behalf of all the beneficial owners of the Specified Notes and is duly authorized by them
to do so. Such beneficial owner or owners are referred to herein collectively as the
“Owner”. If the Specified Notes are represented by a Global Note, they are held through
DTC or an Agent Member in the name of the undersigned, as or on behalf of the Owner. If the
Specified Notes are not represented by a Global Note, they are registered in the name of the
undersigned, as or on behalf of the Owner.

          The Owner has requested that the Specified Notes be transferred to a person (the
“Transferee”) who will take delivery in the form of a Regulation S Note. In connection
with such transfer, the Owner hereby certifies that, unless such transfer is being effected
pursuant to an effective registration statement under the Securities Act, it is being effected in
accordance with Rule 903 or 904 or Rule 144 under the Securities Act and with all applicable
securities laws of the states of the United States and other jurisdictions. Accordingly, the Owner
hereby further certifies as follows:

          1. Rule 903 or 904 Transfers. If the transfer is being effected in accordance with
Rule 903 or 904:

E-1

 

     (a) the Owner is not a distributor of the Notes, an affiliate of the Company or of any
such distributor or a person acting on behalf of any of the foregoing;

     (b) the offer of the Specified Notes was not made to a person in the United States;

     (c) either:

     (i) at the time the buy order was originated, the Transferee was outside the
United States or the Owner and any person acting on its behalf reasonably believed
that the Transferee was outside the United States, or

     (ii) the transaction is being executed in, on or through the facilities of a
designated offshore securities market (as defined in Regulation S) and neither the
Owner nor any person acting on its behalf knows that the transaction has been
prearranged with a buyer in the United States;

     (d) no directed selling efforts have been made in the United States by or on behalf of
the Owner or any affiliate thereof;

     (e) if the Owner is a dealer in Notes or has received a selling concession, fee or
other remuneration in respect of the Specified Notes, and the transfer is to occur during
the Restricted Period, then the requirements of Rule 904(c)(1) have been satisfied; and

     (f) the transaction is not part of a plan or scheme to evade the registration
requirements of the Securities Act.

          2. Rule 144 Transfers. If the transfer is being effected pursuant to Rule 144:

     (a) the transfer is occurring after November 20, 2007 and is being effected in
accordance with the applicable amount, manner of sale and notice requirements of Rule 144;
or

     (b) the transfer is occurring after November 20, 2008 and the Owner is not, and during
the preceding three months has not been, an affiliate of the Company.

E-2

 

          This certificate and the statements contained herein are made for your benefit and the benefit
of the Company and the Initial Purchasers.

	 	 	 
	Dated:
	 	 
	 

	 	 
	 

	 	(Print the name of the undersigned, as such term is
defined in the second paragraph of this certificate)

	 	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Name:
	 

	 	 	 	Title:
	 
	 	 	 	 
	 	 	(If the undersigned is a corporation, partnership or
fiduciary, the title of the person signing on behalf
of the undersigned must be stated)

E-3

 

EXHIBIT F

REGULATION S CERTIFICATE

(For transfers pursuant to Sections

2.6(a), (c) and (e) of the Indenture)

			
	To:	 	Wells Fargo Bank, National Association,

as Trustee

	 	 	 
	Re:

	 	Reliance Steel & Aluminum Co. – 6.850% Senior Notes

due 2036 (the “Notes”)

          Reference is made to the Indenture, dated as of November 20, 2006 (the “Indenture”),
among Reliance Steel & Aluminum Co. (the “Company”), the Subsidiary Guarantors and Wells
Fargo Bank, National Association, as Trustee. Terms used herein and defined in the Indenture or in
Regulation S or Rule 144 under the U.S. Securities Act of 1933, as amended (the “Securities
Act”) are used herein as so defined.

          This certificate relates to US$            
         principal amount of Notes, which are evidenced by the
following certificate(s) (the “Specified Notes”):

          CUSIP No(s).

          CERTIFICATE No(s).               
                          

The person in whose name this certificate is executed below (the “undersigned”) hereby
certifies that either (i) it is the sole beneficial owner of the Specified Notes or (ii) it is
acting on behalf of all the beneficial owners of the Specified Notes and is duly authorized by them
to do so. Such beneficial owner or owners are referred to herein collectively as the
“Owner”. If the Specified Notes are represented by a Global Note, they are held through
DTC or an Agent Member in the name of the undersigned, as or on behalf of the Owner. If the
Specified Notes are not represented by a Global Note, they are registered in the name of the
undersigned, as or on behalf of the Owner.

          The Owner has requested that the Specified Notes be transferred to a person (the
“Transferee”) who will take delivery in the form of a Regulation S Note. In connection
with such transfer, the Owner hereby certifies that, unless such transfer is being effected
pursuant to an effective registration statement under the Securities Act, it is being effected in
accordance with Rule 903 or 904 or Rule 144 under the Securities Act and with all applicable
securities laws of the states of the United States and other jurisdictions. Accordingly, the Owner
hereby further certifies as follows:

          1. Rule 903 or 904 Transfers. If the transfer is being effected in accordance with
Rule 903 or 904:

F-1

 

     (a) the Owner is not a distributor of the Notes, an affiliate of the Company or of any
such distributor or a person acting on behalf of any of the foregoing;

     (b) the offer of the Specified Notes was not made to a person in the United States;

     (c) either:

     (i) at the time the buy order was originated, the Transferee was outside the
United States or the Owner and any person acting on its behalf reasonably believed
that the Transferee was outside the United States, or

     (ii) the transaction is being executed in, on or through the facilities of a
designated offshore securities market (as defined in Regulation S) and neither the
Owner nor any person acting on its behalf knows that the transaction has been
prearranged with a buyer in the United States;

     (d) no directed selling efforts have been made in the United States by or on behalf of
the Owner or any affiliate thereof;

     (e) if the Owner is a dealer in Notes or has received a selling concession, fee or
other remuneration in respect of the Specified Notes, and the transfer is to occur during
the Restricted Period, then the requirements of Rule 904(c)(1) have been satisfied; and

     (f) the transaction is not part of a plan or scheme to evade the registration
requirements of the Securities Act.

          2. Rule 144 Transfers. If the transfer is being effected pursuant to Rule 144:

     (a) the transfer is occurring after November 20, 2007 and is being effected in
accordance with the applicable amount, manner of sale and notice requirements of Rule 144;
or

     (b) the transfer is occurring after November 20, 2008 and the Owner is not, and during
the preceding three months has not been, an affiliate of the Company.

F-2

 

          This certificate and the statements contained herein are made for your benefit and the benefit
of the Company and the Initial Purchasers.

	 	 	 
	Dated:
	 	 
	 

	 	 
	 

	 	(Print the name of the undersigned, as such term is
defined in the second paragraph of this certificate)

	 	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Name:
	 

	 	 	 	Title:

(If the undersigned is a corporation, partnership or fiduciary, the title of the person signing on
behalf of the undersigned must be stated)

F-3

 

EXHIBIT G

RULE 144A CERTIFICATE

(For transfers pursuant to Sections

2.6(b), (c), (d) and (e) of the Indenture)

			
	To:	 	Wells Fargo Bank, National Association,

      as Trustee

	 	 	 
	Re:

	 	Reliance Steel & Aluminum Co. – 6.200% Senior Notes

due 2016 (the “Notes”)

          Reference is made to the Indenture, dated as of November 20, 2006, (the “Indenture”),
among Reliance Steel & Aluminum Co. (the “Company”), the Subsidiary Guarantors and Wells
Fargo Bank, National Association, as Trustee. Terms used herein and defined in the Indenture or in
Regulation S or Rule 144 under the U.S. Securities Act of 1933, as amended (the “Securities
Act”) are used herein as so defined.

          This certificate relates to US$            
         principal amount of Notes, which are evidenced by the
following certificate(s) (the “Specified Notes”):

          CUSIP No(s).                   
                                          

          CERTIFICATE No(s).                    
                                         

The person in whose name this certificate is executed below (the “undersigned”) hereby
certifies that either (i) it is the sole beneficial owner of the Specified Notes or (ii) it is
acting on behalf of all the beneficial owners of the Specified Notes and is duly authorized by them
to do so. Such beneficial owner or owners are referred to herein collectively as the
“Owner”. If the Specified Notes are represented by a Global Note, they are held through
DTC or an Agent Member in the name of the undersigned, as or on behalf of the Owner. If the
Specified Notes are not represented by a Global Note, they are registered in the name of the
Undersigned, as or on behalf of the Owner.

          The Owner has requested that the Specified Notes be transferred to a person (the
“Transferee”) who will take delivery in the form of a Rule 144A Note. In connection with
such transfer, the Owner hereby certifies that, unless such transfer is being effected pursuant to
an effective registration statement under the Securities Act, it is being effected in accordance
with Rule 144A or Rule 144 under the Securities Act and with all applicable securities laws of the
states of the United States and other jurisdictions. Accordingly, the Owner hereby further
certifies as:

          1. Rule 144A Transfers. If the transfer is being effected in accordance with Rule
144A:

          (a) the Specified Notes are being transferred to a person that the Owner and any person acting
on its behalf reasonably believe is a “qualified institutional buyer” within the
meaning of Rule 144A, acquiring for its own account or for the account of a qualified
institutional buyer; and

G-1

 

          (b) the Owner and any person acting on its behalf have taken reasonable steps to ensure that
the Transferee is aware that the Owner is relying on Rule 144A in connection with the transfer; and

          2. Rule 144 Transfers. If the transfer is being effected pursuant to Rule 144:

          (a) the transfer is occurring after November 20, 2007 and is being effected in accordance with
the applicable amount, manner of sale and notice requirements of Rule 144; or

          (b) the transfer is occurring after November 20, 2008 and the Owner is not, and during the
preceding three months has not been, an affiliate of the Company.

          This certificate and the statements contained herein are made for your benefit and the benefit
of the Company and the Initial Purchasers.

	 	 	 
	Dated:
	 	 
	 

	 	 
	 

	 	(Print the name of the undersigned, as such term is
defined in the second paragraph of this certificate)

	 	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Name:
	 

	 	 	 	Title:
	 
	 	 	 	 
	 	 	(If the undersigned is a corporation, partnership or
fiduciary, the title of the person signing on behalf
of the undersigned must be stated)

G-2

 

EXHIBIT H

RULE 144A CERTIFICATE

(For transfers pursuant to Sections

2.6(b), (c), (d) and (e) of the Indenture)

			
	To:	 	Wells Fargo Bank, National Association,

as Trustee

	 	 	 
	Re:

	 	Reliance Steel & Aluminum Co. – 6.850% Senior Notes

due 2036 (the “Notes”)

          Reference is made to the Indenture, dated as of November 20, 2006, (the “Indenture”),
among Reliance Steel & Aluminum Co. (the “Company”), the Subsidiary Guarantors and Wells
Fargo Bank, National Association, as Trustee. Terms used herein and defined in the Indenture or in
Regulation S or Rule 144 under the U.S. Securities Act of 1933, as amended (the “Securities
Act”) are used herein as so defined.

          This certificate relates to US$        
       
      principal amount of Notes, which are evidenced by the
following certificate(s) (the “Specified Notes”):

          CUSIP No(s).

          CERTIFICATE No(s).              
                           

     The person in whose name this certificate is executed below (the “undersigned”) hereby
certifies that either (i) it is the sole beneficial owner of the Specified Notes or (ii) it is
acting on behalf of all the beneficial owners of the Specified Notes and is duly authorized by them
to do so. Such beneficial owner or owners are referred to herein collectively as the
“Owner”. If the Specified Notes are represented by a Global Note, they are held through
DTC or an Agent Member in the name of the undersigned, as or on behalf of the Owner. If the
Specified Notes are not represented by a Global Note, they are registered in the name of the
Undersigned, as or on behalf of the Owner.

          The Owner has requested that the Specified Notes be transferred to a person (the
“Transferee”) who will take delivery in the form of a Rule 144A Note. In connection with
such transfer, the Owner hereby certifies that, unless such transfer is being effected pursuant to
an effective registration statement under the Securities Act, it is being effected in accordance
with Rule 144A or Rule 144 under the Securities Act and with all applicable securities laws of the
states of the United States and other jurisdictions. Accordingly, the Owner hereby further
certifies as:

          1. Rule 144A Transfers. If the transfer is being effected in accordance with Rule
144A:

          (a) the Specified Notes are being transferred to a person that the Owner and any person acting
on its behalf reasonably believe is a “qualified institutional buyer” within the meaning of Rule
144A, acquiring for its own account or for the account of a qualified institutional buyer; and

H-1

 

          (b) the Owner and any person acting on its behalf have taken reasonable steps to ensure that
the Transferee is aware that the Owner is relying on Rule 144A in connection with the transfer; and

          2. Rule 144 Transfers. If the transfer is being effected pursuant to Rule 144:

          (a) the transfer is occurring after November 20, 2007 and is being effected in accordance with
the applicable amount, manner of sale and notice requirements of Rule 144; or

          (b) the transfer is occurring after November 20, 2008 and the Owner is not, and during the
preceding three months has not been, an affiliate of the Company.

          This certificate and the statements contained herein are made for your benefit and the benefit
of the Company and the Initial Purchasers.

	 	 	 
	Dated:
	 	 
	 

	 	(Print the name of the undersigned, as such term is
defined in the second paragraph of this certificate)

	 	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Name:
	 

	 	 	 	Title:
	 
	 	 	 	 
	 	 	(If the undersigned is a corporation, partnership or
fiduciary, the title of the person signing on behalf
of the undersigned must be stated)

H-2

 

EXHIBIT I

INCUMBENCY CERTIFICATE

          The undersigned officer, the          
            (the “Company”), hereby certifies that the
following-named individuals are duly elected, qualified, and acting officers of the
[Company][Companies], and hold the offices set forth opposite their respective names as of the date
hereof, and the signatures appearing in the far right column opposite the respective names and
titles of said officers are their true and authentic signatures and such individuals have the
authority to execute documents to be delivered to, or upon the request of, Wells Fargo Bank,
National Association, as Trustee under the Indenture dated as of November 20, 2006, among the
Company, the Subsidiary Guarantors named therein and Wells Fargo Bank, National Association, as
Trustee:

	 	 	 	 	 
	Name	 	Title	 	Specimen Signature
	 
	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 
	 	 	 	 	 

          IN WITNESS WHEREOF, I have duly executed this certificate as of November 20, 2006.

	 	 	 
	 

	 	 
	 

	 	Name:
	 

	 	Title:

     I,              
       , do hereby certify that I am a duly elected, qualified and acting Director of
the above named Companies, and that the signature subscribed to the foregoing certificate
purporting to be the signature of                     is the genuine signature of said person and that said
                     is the duly elected, qualified and acting Secretary of the Companies.

	 	 	 
	 

	 	 
	 

	 	Director as aforesaid

I-1exv10w02

 

Exhibit 10.02

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS SECURITY
NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED,
ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION
IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS SECURITY, BY ITS
ACCEPTANCE HEREOF, AGREES ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS
PURCHASED SECURITIES, TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE
“RESALE RESTRICTION TERMINATION DATE”) THAT IS TWO YEARS AFTER THE LATER OF THE ORIGINAL ISSUE DATE
HEREOF AND THE LAST DATE ON WHICH THE COMPANY OR ANY AFFILIATE OF THE COMPANY WAS THE OWNER OF THIS
SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY), ONLY (A) TO THE COMPANY, (B) PURSUANT TO A
REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG
AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT, TO A
PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER
THE SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED
INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE
144A, (D) PURSUANT TO OFFERS AND SALES THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF
REGULATION S UNDER THE SECURITIES ACT, (E) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE
MEANING OF RULE 501(a)(1), (2), (3) OR (7) UNDER THE SECURITIES ACT THAT IS AN INSTITUTIONAL
ACCREDITED INVESTOR ACQUIRING THE SECURITY FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF SUCH AN
INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF THE SECURITIES OF
$250,000, FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO OR FOR OFFER OR SALE IN CONNECTION WITH
ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, OR (F) PURSUANT TO ANOTHER AVAILABLE EXEMPTION
FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE COMPANY’S AND THE
TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES (D), (E) OR (F) TO
REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY
TO EACH OF THEM. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE RESALE
RESTRICTION TERMINATION DATE.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY, A NEW YORK CORPORATION (“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 IN SUCH
OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE
& CO. OR TO

2016-1-1

 

SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO
NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF
THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET
FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF.

RELIANCE STEEL & ALUMINUM CO.

6.200% SENIOR NOTES DUE 2016

	 	 	 	 	 	 	 
	No. 1	 	Principal Amount $350,000,000
	 	 	 	 	(subject to adjustment as reflected in the Schedule of Increases and
Decreases in Global Note attached hereto)
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	CUSIP NO. 759509 AC 6
	 

	 	 	 	 	 	ISIN NO. US759509 AC 60

     Reliance Steel & Aluminum Co., a California corporation, for value received, promises to pay
to CEDE & CO., or registered assigns, the principal sum of THREE HUNDRED AND FIFTY MILLION Dollars
(subject to adjustment as reflected in the Schedule of Increases and Decreases in Global Note
attached hereto) on November 15, 2016.

     Interest Payment Dates: May 15 and November 15 of each year, commencing on May 15, 2007,
first interest payment date relating to any Notes.

     Record Dates: May 1 and November 1 of each year.

     Additional provisions of this Note are set forth on the other side of this Note.

2016-1-2

 

     IN WITNESS WHEREOF, RELIANCE STEEL & ALUMINUM CO. has caused this Note to be duly executed.

Dated: November 20, 2006

	 	 	 	 	 	 	 
	 	 	RELIANCE STEEL & ALUMINUM CO.	 	 
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 

TRUSTEE’S CERTIFICATE OF

AUTHENTICATION

This is one of the Notes referred

to in the within-mentioned Indenture.

WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Trustee

	 	 	 	 	 
	By
	 	 	 	 
	 

	 	 

Authorized Signatory
	 	 

Dated: November 20, 2006

[Signature Page to 2016 Note — Rule 144A]

2016-1-3

 

[REVERSE SIDE OF INITIAL NOTE]

[Reverse of 2016 Note]

6.200% Senior Notes due 2016

1. Interest

     Reliance Steel & Aluminum Co., a California corporation (together with its successors and
assigns under the Indenture hereinafter referred to, being herein called the “Company”),
promises to pay interest on the principal amount of this Note at the rate of 6.200% per annum;
provided, however, that, upon the occurrence or failure to occur of certain events
specified in the Registration Rights Agreement, the Company shall, subject to the terms and
conditions set forth in the Registration Rights Agreement, pay additional interest on the principal
amount of this Note at a rate of 0.25% per annum for the first 90-day period immediately following
such date and by an additional 0.25% per annum for the subsequent 90-day period, up to a maximum
aggregate of 0.50% per annum, after such event occurs or fails to occur so long as such event
continues or fails to occur, as the case may be. Such additional interest shall be payable in
addition to any other interest payable from time to time with respect to this Note.

     The Company shall pay interest semiannually on May 15 and November 15 of each year (each such
date, an “Interest Payment Date”), commencing on May 15, 2007. Interest on the Notes shall
accrue from November 20, 2006, or from the most recent date to which interest has been paid on the
Notes. Interest shall be computed on the basis of a 360-day year comprised of twelve 30-day
months.

2. Method of Payment

     By no later than 11:00 a.m. (New York City time) on the date on which any principal of or
interest on any Note is due and payable, the Company shall irrevocably deposit with the Trustee or
the Paying Agent money sufficient to pay such principal and/or interest. The Company shall pay
interest (except defaulted interest) to the Persons who are registered Holders of Notes at the
close of business on the May 1 or November 1 immediately preceding the Interest Payment Date even
if Notes are cancelled, repurchased or redeemed after the record date and on or before the Interest
Payment Date. Holders must surrender Notes to a Paying Agent to collect principal payments. The
Company shall pay principal and interest in money of the United States that at the time of payment
is legal tender for payment of public and private debts. Payments in respect of Notes represented
by a Global Note (including principal, premium, if any, and interest) shall be made by the transfer
of immediately available funds to the accounts specified by The Depository Trust Company. The
Company may make all payments in respect of a Definitive Note (including principal, premium, if
any, and interest) by mailing a check to the registered address of each Holder thereof or by wire
transfer to an account located in the United States maintained by the payee.

3. Paying Agent and Registrar

     Wells Fargo Bank, National Association, a national banking association (the
“Trustee”), shall initially act as Paying Agent and Registrar. The Company may appoint and
change any Paying Agent or Registrar without notice to any Noteholder. The Company or any of
its domestically organized wholly owned Subsidiaries may act as Paying Agent.

2016-1-4

 

4. Indenture

     The Company issued the 2016 Notes under an Indenture dated as of November 20, 2006 (as it may
be amended or supplemented from time to time in accordance with the terms thereof, the
“Indenture”), among the Company, the Subsidiary Guarantors 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 (15 U.S.C. §§ 77aaa-77bbbb) as in effect on the date of
the Indenture (the “Trust Indenture Act”). Terms used herein and not defined herein have
the meanings ascribed thereto in the Indenture. The Notes are subject to all such terms, and
Noteholders are referred to the Indenture and the Trust Indenture Act for a statement of those
terms. To the extent any provision of this Note conflicts with the express provisions of the
Indenture, the provisions of the Indenture shall govern and be controlling.

     The Notes are senior unsecured obligations of the Company. The Note is one of the Initial
Notes referred to in the Indenture. The Notes include the Initial Notes issued on the Issue Date,
any Additional Notes issued in accordance with Section 2.15 of the Indenture and any Exchange Notes
issued in exchange for the Initial Notes or Additional Notes pursuant to the Indenture and the
Registration Rights Agreement. The Initial Notes, any Additional Notes and the Exchange Notes are
treated as a single class of securities under the Indenture. The Indenture imposes certain
limitations on the ability of the Company and its Subsidiaries to create liens, enter into sale and
leaseback transactions and enter into mergers and consolidations.

     The Notes are guaranteed to the extent provided in the Indenture.

5. Change of Control Repurchase Event

     Upon the occurrence of a Change of Control Repurchase Event, the Company will be required to
make an offer to each Holder to repurchase all or any part (in excess of $2,000 and integral
multiples of $1,000) of such Holder’s Notes at a purchase price in cash equal to 101% of the
principal amount thereof on the date of purchase plus accrued and unpaid interest to but not
including the date of purchase, in accordance with the terms contemplated in Section 4.4 of the
Indenture.

6. Optional Redemption

     The Notes shall be redeemable, in whole or in part, at any time and from time to time, at the
option of the Company, at a redemption price equal to the greater of (i) 100% of the principal
amount of such Notes and (ii) the sum of the present values of the Remaining Scheduled Payments
thereon (exclusive of interest accrued to the date of redemption) discounted to the Redemption Date
on a semiannual basis (assuming a 360-day year comprised of twelve 30-day months) at the Treasury
Rate plus 0.25% (25 basis points) (the “Make-Whole Amount”), plus accrued and unpaid
interest thereon to, but not including, the Redemption Date.

     “Comparable Treasury Issue” means the United States Treasury security selected by an
Independent Investment Banker as having an actual or interpolated maturity comparable to
the remaining term of the Notes to be redeemed that would be utilized, at the time of
selection and in accordance with customary financial practice, in pricing new issues of corporate
debt securities of comparable maturity to the remaining term of such Notes.

2016-1-5

 

     “Comparable Treasury Price” means, with respect to any Redemption Date, (1) the
arithmetic average of the Reference Treasury Dealer Quotations for such Redemption Date after
excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Trustee
obtains fewer than four Reference Treasury Dealer Quotations, the arithmetic average of all
Reference Treasury Dealer Quotations for such Redemption Date.

     “Independent Investment Banker” means Citigroup Global Markets Inc., J.P. Morgan
Securities Inc. or their respective successors as may be appointed from time to time by the Trustee
after consultation with the Company; provided, however, that if any of the
foregoing ceases to be a Primary Treasury Dealer, the Company will substitute another Primary
Treasury Dealer.

     “Reference Treasury Dealer” means Citigroup Global Markets Inc., J.P. Morgan
Securities Inc. or two other Primary Treasury Dealers selected by the Company, and each of their
respective successors and any other Primary Treasury Dealers selected by the Trustee after
consultation with the Company.

     “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury
Dealer and any Redemption Date, the arithmetic average, as determined by the Trustee, of the bid
and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its
principal amount) quoted in writing to the Trustee by such Reference Treasury Dealer as of 3:30
p.m., New York City time, on the third business day preceding such Redemption Date.

     “Remaining Scheduled Payments” means, with respect to any Note to be redeemed, the
remaining scheduled payments of the principal of and premium, if any, and interest thereon that
would be due after the related Redemption Date but for such redemption; provided,
however, that, if such Redemption Date is not an interest payment date with respect to such
note, the amount of the next scheduled interest payment thereon will be reduced by the amount of
interest accrued thereon to such Redemption Date.

     “Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal
to the semi-annual equivalent yield to maturity (computed as of the third Business Day immediately
preceding that Redemption Date) of the Comparable Treasury Issue. In determining this rate, the
Company will assume a price for the Comparable Treasury Issue (expressed as a percentage of its
principal amount) equal to the Comparable Treasury Price for such Redemption Date.

     Except as set forth above and in Section 5 of the Notes, the Notes shall not be redeemable by
the Company prior to maturity.

     The Notes shall not be entitled to the benefit of any sinking fund.

2016-1-6

 

7 Notice of Redemption

     At least 30 days but not more than 60 days before a date for redemption of Notes of this
series, the Company shall mail a notice of redemption by first-class mail to each Holder of Notes
to be redeemed at its registered address. Notes in denominations of principal amount larger than
$2,000 may be redeemed in part but only in integral multiples of $1,000 in excess thereof. If
money sufficient to pay the redemption price of and accrued and unpaid interest on all Notes (or
portions thereof) to be redeemed on the Redemption Date is deposited with the Paying Agent on or
before 11:00 a.m. (New York City time) on the Redemption Date (or, if the Company or any of its
Subsidiaries is the Paying Agent, such money is segregated and held in trust) and certain other
conditions are satisfied, on and after such date interest shall cease to accrue on such Notes (or
such portions thereof) called for redemption.

8. Registration Rights

     The Company is party to a Registration Rights Agreement, dated as of November 20, 2006, among
the Company, the Subsidiary Guarantors, Citigroup Global Markets Inc. and J.P. Morgan Securities
Inc. and the other Initial Purchasers named therein, pursuant to which it is obligated to pay
Additional Interest upon the occurrence of certain events specified in the Registration Rights
Agreement.

9. Denominations; Transfer; Exchange

     The Notes are in fully registered form without coupons in denominations of principal amount of
$2,000 and integral multiples of $1,000 in excess thereof. A Holder may register, transfer or
exchange Notes in accordance with the Indenture. The Registrar may require a Holder, among other
things, to furnish appropriate endorsements or transfer documents and to pay any taxes and fees
required by law or permitted by the Indenture. The Registrar need not register the transfer of or
exchange any Notes selected for redemption (except, in the case of a Note to be redeemed in part,
the portion of the Note not to be redeemed) for a period beginning 15 days before the mailing of a
notice of redemption of Notes to be redeemed and ending on the date of such mailing.

10. Persons Deemed Owners

     The registered holder of this Note shall be treated as the owner of it for all purposes.

11. Unclaimed Money

     If money for the payment of principal or interest remains unclaimed for two years after the
date of payment of principal and interest, the Trustee or Paying Agent shall pay the money back to
the Company at its request. After any such payment, Holders entitled to the money must look only
to the Company and not to the Trustee for payment.

2016-1-7

 

12. Defeasance

     Subject to certain conditions set forth in the Indenture, the Company at any time may
terminate some or all of its obligations under the Notes of this series and the Indenture as it
relates to Notes of this series if the Company deposits with the Trustee money or U.S. Government
Obligations for the payment of principal of and interest on the Notes to redemption or maturity, as
the case may be.

13. Amendment, Waiver

     Subject to certain exceptions set forth in the Indenture, (i) the Indenture or the Notes may
be amended with the written consent of the Holders of at least a majority in principal amount of
the outstanding Notes and (ii) any default or noncompliance with any provision of the Indenture or
the Notes may be waived with the written consent of the Holders of a majority in principal amount
of the outstanding Notes (including consents obtained in connection with a tender offer or exchange
for Notes). However, the Indenture requires the consent of each Noteholder that would be affected
for certain specified amendments or modifications of the Indenture and the Notes. Subject to
certain exceptions set forth in the Indenture, without the consent of any Noteholder, the Company
and the Trustee may amend the Indenture or the Notes, among other things, to cure any ambiguity,
omission, defect or inconsistency, or to evidence the succession of another Person to the Company
or any Subsidiary Guarantor and the assumption by any such Person of the obligations of the Company
or such Subsidiary Guarantor in accordance with Article V of the Indenture, or to add any
additional Events of Default, or to add to the covenants of the Company or surrender rights and
powers conferred on the Company, or to add one or more guarantees for the benefit of the Holders of
the Notes, or to evidence the release of any Subsidiary Guarantor from its guarantee of the notes
in accordance with the Indenture, or to add collateral security with respect to the Notes or any
Guarantee, or to add or appoint a successor or separate trustee or other agent, or to provide for
the issuance of the Exchange Notes in accordance with the Indenture, or to provide for the issuance
of Additional Notes, or to comply with any requirements in connection with qualifying the Indenture
under the Trust Indenture Act, or to comply with the rules of any applicable securities depository,
or to provide for uncertificated Notes in addition to or in place of certificated Notes, or to
change any other provision if the change does not adversely affect the interests of any Noteholder.

14. Defaults and Remedies

     Under the Indenture, Events of Default include (i) default for 30 days in payment of interest
on the Notes of this series ; (ii) default in payment of principal on the Notes of this series at
its stated maturity date, upon optional redemption or otherwise; (iii) failure by the Company to
repurchase Notes of this series tendered for repurchase following a Change of Control Repurchase
Event; (iv) failure by the Company to comply with any covenant or agreement in the Indenture or the
Notes, subject to notice and lapse of time; (v) failure to make any payment at maturity, including
any applicable grace period, in respect of Indebtedness of the Company or any of its Subsidiaries
(other than Indebtedness of the Company or of any of its Subsidiaries owing to the Company or any
of its Subsidiaries) with an aggregate principal amount then outstanding in excess of $30,000,000,
subject to certain conditions; (vi) default in respect of other Indebtedness of the Company or any
of its Subsidiaries (other than Indebtedness

2016-1-8

 

of the Company or of any of its Subsidiaries owing to the Company or any of its Subsidiaries)
in an amount in excess of $30,000,000, which results in the acceleration of such Indebtedness,
subject to certain conditions; (vii) certain events of bankruptcy or insolvency involving the
Company or any Subsidiary Guarantor; and (viii) the Guarantee of any Subsidiary Guarantor ceases to
be in full force an effect during its term or any Subsidiary Guarantor denies or disaffirms in
writing its obligations under the Indenture or its Guarantee, other than in connection with the
termination of such Guarantee pursuant to the provisions of the Indenture.

     If an Event of Default occurs and is continuing with respect to the Notes of this series, the
Trustee or the Holders of at least 25% in aggregate principal amount of the Notes of this series
may declare all the Notes of this series to be due and payable immediately. Certain events of
bankruptcy or insolvency involving the Company are Events of Default which will result in the Notes
of this series being due and payable immediately upon the occurrence of such Events of Default.

     Noteholders may not enforce the Indenture or the Notes except as provided in the Indenture.
The Trustee may refuse to enforce the Indenture or the Notes unless it receives indemnity or
security satisfactory to it. Subject to certain limitations, Holders of a majority in principal
amount of the Notes of this series may direct the Trustee in its exercise of any trust or power.
The Trustee may withhold from Noteholders notice of any continuing Default or Event of Default
(except a Default or Event of Default in payment of principal or interest) if it in good faith
determines that withholding notice is not opposed to their interest.

15. Trustee Dealings with the Company

     Subject to certain limitations set forth in the Indenture, the Trustee under the Indenture, in
its individual or any other capacity, may become the owner or pledgee of Notes and may otherwise
deal with and collect obligations owed to it by the Company and may otherwise deal with the Company
with the same rights it would have if it were not Trustee.

16. No Recourse Against Others

     A director, officer, employee or stockholder (other than the Company), as such, of the Company
shall not have any liability for any obligations of the Company under the Notes, the Indenture or
the Registration Rights Agreement or for any claim based on, in respect of or by reason of such
obligations or their creation. By accepting a Note, each Noteholder waives and releases all such
liability. The waiver and release are part of the consideration for the issue of the Notes.

17. Authentication

     This Note shall not be valid until an authorized signatory of the Trustee (or an
authenticating agent acting on its behalf) manually signs the certificate of authentication on the
other side of this Note.

2016-1-9

 

18. Abbreviations

     Customary abbreviations may be used in the name of a Noteholder or an assignee, such as TEN
COM (tenants in common), TEN ENT (tenants by the entirety), JT TEN (joint tenants with rights of
survivorship and not as tenants in common), CUST (custodian) and U/G/M/A (Uniform Gift to Minors
Act).

19. CUSIP and ISIN Numbers

     The Company has caused CUSIP and ISIN numbers and/or other similar numbers to be printed on
the Notes and has directed the Trustee to use CUSIP and ISIN numbers and/or other similar numbers
in notices of redemption as a convenience to Noteholders. 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.

20. Governing Law

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

2016-1-10

 

ASSIGNMENT FORM

          To assign this Note, fill in the form below:

          I or we assign and transfer this Note to

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

(Insert assignee’s Social Security or Tax I.D. No.)

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

 

Date:                                                                        
          Your Signature:                                                             

Signature Guarantee:                                                             

(Signature must be guaranteed by a participant in a recognized Signature Guarantee Medallion
Program or other signature guarantor program reasonably acceptable to the Trustee)

Sign exactly as your name appears on the other side of this Note.

In connection with any transfer or exchange of any of the certificated Notes evidenced by this
certificate occurring prior to the date that is two years after the later of the date of original
issuance of such Notes and the last date, if any, on which such Notes were owned by the Company or
any Affiliate of the Company, the undersigned confirms that such Notes are being transferred:

CHECK ONE BOX BELOW:

	 	 	 	 	 
	 

	 	(1)o
	 	to the Company; or
	 
	 	 	 	 
	 

	 	(2)o
	 	pursuant to a registration statement that has been declared effective
under the Securities Act; or
	 
	 	 	 	 
	 

	 	(3)o
	 	for so long as the Notes are eligible for resale pursuant to Rule 144A
under the Securities Act, to a person it reasonably believes is a
“Qualified Institutional Buyer” as defined in Rule 144A under the
Securities Act that purchases for its own account or for the account
of a Qualified Institutional Buyer to whom notice is given that the
transfer is being made in reliance on Rule 144A; or
	 
	 	 	 	 
	 

	 	(4)o
	 	pursuant to the offers and sales that occur outside the United States
within the meaning of Regulation S under the Securities Act; or
	 
	 	 	 	 
	 

	 	(5)o
	 	to an institutional accredited investor (within the meaning of Rule
501(a)(1), (2), (3) or (7) under the Securities Act) that is not a
qualified institutional buyer and that is purchasing for its own
account or for the account of another institutional accredited
investor, in each case in a minimum principal amount of notes of
$250,000 and not with a view to or for offer or sale in connection
with any distribution in violation of the Securities Act; or

2016-1-11

 

	 	 	 	 	 
	 

	 	(6)o
	 	under any other available exemption from the registration requirements
of the Securities Act.

Unless one of the boxes is checked, the Trustee may refuse to register any of the certificated
Notes evidenced by this certificate in the name of any Person other than the registered holder
thereof; provided, however, that if box (4), (5) or (6) is checked, the Company and
the Trustee may require, prior to registering any such transfer of the Notes, delivery of a legal
opinion, certification and/or other information satisfactory to the Company and the Trustee.

	 	 	 	 	 	 	 
	 

	 	 	 	 

Signature
	 	 
	 
	 	 	 	 	 	 
	Signature Guarantee:
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 

Signature
	 	 
	 
	 	 	 	 	 	 
	(Signature must be guaranteed by a
participant in a recognized Signature
Guarantee Medallion Program or other
signature guarantor program reasonably
acceptable to the Trustee)
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 

2016-1-12

 

TO BE COMPLETED BY PURCHASER IF BOX (3) ABOVE IS CHECKED.

     The undersigned represents and warrants that it is purchasing this certificated Note for its
own account or an account with respect to which it exercises sole investment discretion and that it
and any such account is a “qualified institutional buyer” within the meaning of Rule 144A under the
Securities Act of 1933, and is aware that the sale to it is being made in reliance on Rule 144A and
acknowledges that it has received such information regarding the Company as the undersigned has
requested pursuant to Rule 144A or has determined not to request such information and that it is
aware that the transferor is relying upon the undersigned’s foregoing representations in order to
claim the exemption from registration provided by Rule 144A.

	 	 	 	 	 	 	 	 	 
	Dated:
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	 	 	NOTICE:
	 	To be executed by an

executive officer
	 
	 	 	 	 	 	 	 	 
	Signature Guarantee:	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	Signature

	(Signature must be guaranteed by a
participant in a recognized Signature
Guarantee Medallion Program or other
signature guarantor program reasonably
acceptable to the Trustee)	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

2016-1-13

 

[TO BE ATTACHED TO GLOBAL SECURITIES]

SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTE

The following increases or decreases in this Global Note have been made:

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Principal Amount of this Global	 	Signature of authorized
	Date of	 	Amount of decrease in Principal	 	Amount of increase in Principal	 	Note following such decrease or	 	signatory of Trustee or
	Exchange	 	Amount of this Global Note	 	Amount of this Global Note	 	increase	 	Securities Custodian
	 
	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 

2016-1-14

 

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS SECURITY NOR ANY
INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED
OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT
FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF,
AGREES ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED
SECURITIES, TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE “RESALE
RESTRICTION TERMINATION DATE”) THAT IS TWO YEARS AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF
AND THE LAST DATE ON WHICH THE COMPANY OR ANY AFFILIATE OF THE COMPANY WAS THE OWNER OF THIS
SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY), ONLY (A) TO THE COMPANY, (B) PURSUANT TO A
REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG
AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT, TO A
PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER
THE SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED
INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE
144A, (D) PURSUANT TO OFFERS AND SALES THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF
REGULATION S UNDER THE SECURITIES ACT, (E) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE
MEANING OF RULE 501(a)(1), (2), (3) OR (7) UNDER THE SECURITIES ACT THAT IS AN INSTITUTIONAL
ACCREDITED INVESTOR ACQUIRING THE SECURITY FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF SUCH AN
INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF THE SECURITIES OF
$250,000, FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO OR FOR OFFER OR SALE IN CONNECTION WITH
ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, OR (F) PURSUANT TO ANOTHER AVAILABLE EXEMPTION
FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE COMPANY’S AND THE
TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES (D), (E) OR (F) TO
REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY
TO EACH OF THEM. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE RESALE
RESTRICTION TERMINATION DATE.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY, A NEW YORK CORPORATION (“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 IN SUCH
OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE
& CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE

2036-1-1

 

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.

TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO
NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF
THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET
FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF.

RELIANCE STEEL & ALUMINUM CO.

6.850% SENIOR NOTES DUE 2036

	 	 	 	 	 	 	 
	No. 1	 	Principal Amount $250,000,000
	 	 	 	 	(subject to adjustment as reflected in the Schedule of Increases and
Decreases in Global Note attached hereto)
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	CUSIP NO. 759509 AA 0
ISIN NO. US759509 AA 05

     Reliance Steel & Aluminum Co., a California corporation, for value received, promises to pay
to CEDE & CO., or registered assigns, the principal sum of TWO HUNDRED AND FIFTY MILLION Dollars
(subject to adjustment as reflected in the Schedule of Increases and Decreases in Global Note
attached hereto) on November 15, 2036.

     Interest Payment Dates: May 15 and November 15 of each year, commencing on May 15, 2007,
first interest payment date relating to any Notes.

     Record Dates: May 1 and November 1 of each year.

     Additional provisions of this Note are set forth on the other side of this Note.

2036-1-2

 

     IN WITNESS WHEREOF, RELIANCE STEEL & ALUMINUM CO. has caused this Note to be duly executed.

Dated: November 20, 2006

	 	 	 	 	 	 	 
	 	 	RELIANCE STEEL & ALUMINUM CO.	 	 
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 

TRUSTEE’S CERTIFICATE OF

AUTHENTICATION

This is one of the Notes referred

to in the within-mentioned Indenture.

WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Trustee

	 	 	 	 	 
	By
	 	 	 	 
	 

	 	 

Authorized Signatory
	 	 

Dated: November 20, 2006

[Signature Page to the 2036 Note — Rule 144A]

2036-1-3

 

[REVERSE SIDE OF INITIAL NOTE]

[Reverse of 2036 Note]

6.850% Senior Notes due 2036

1. Interest

     Reliance Steel & Aluminum Co., a California corporation (together with its successors and
assigns under the Indenture hereinafter referred to, being herein called the “Company”),
promises to pay interest on the principal amount of this Note at the rate of 6.850% per annum;
provided, however, that, upon the occurrence or failure to occur of certain events
specified in the Registration Rights Agreement, the Company shall, subject to the terms and
conditions set forth in the Registration Rights Agreement, pay additional interest on the principal
amount of this Note at a rate of 0.25% per annum for the first 90-day period immediately following
such date and by an additional 0.25% per annum for the subsequent 90-day period, up to a maximum
aggregate of 0.50% per annum, after such event occurs or fails to occur so long as such event
continues or fails to occur, as the case may be. Such additional interest shall be payable in
addition to any other interest payable from time to time with respect to this Note.

     The Company shall pay interest semiannually on May 15 and November 15 of each year (each such
date, an “Interest Payment Date”), commencing on May 15, 2007. Interest on the Notes shall
accrue from November 20, 2006, or from the most recent date to which interest has been paid on the
Notes. Interest shall be computed on the basis of a 360-day year comprised of twelve 30-day
months.

2. Method of Payment

     By no later than 11:00 a.m. (New York City time) on the date on which any principal of or
interest on any Note is due and payable, the Company shall irrevocably deposit with the Trustee or
the Paying Agent money sufficient to pay such principal and/or interest. The Company shall pay
interest (except defaulted interest) to the Persons who are registered Holders of Notes at the
close of business on the May 1 or November 1 immediately preceding the Interest Payment Date even
if Notes are cancelled, repurchased or redeemed after the record date and on or before the Interest
Payment Date. Holders must surrender Notes to a Paying Agent to collect principal payments. The
Company shall pay principal and interest in money of the United States that at the time of payment
is legal tender for payment of public and private debts. Payments in respect of Notes represented
by a Global Note (including principal, premium, if any, and interest) shall be made by the transfer
of immediately available funds to the accounts specified by The Depository Trust Company. The
Company may make all payments in respect of a Definitive Note (including principal, premium, if
any, and interest) by mailing a check to the registered address of each Holder thereof or by wire
transfer to an account located in the United States maintained by the payee.

3. Paying Agent and Registrar

     Wells Fargo Bank, National Association, a national banking association (the
“Trustee”), shall initially act as Paying Agent and Registrar. The Company may appoint and
change any Paying Agent or Registrar without notice to any Noteholder. The Company or any of
its domestically organized wholly owned Subsidiaries may act as Paying Agent.

2036-1-4

 

4. Indenture

     The Company issued the 2036 Notes under an Indenture dated as of November 20, 2006 (as it may
be amended or supplemented from time to time in accordance with the terms thereof, the
“Indenture”), among the Company, the Subsidiary Guarantors 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 (15 U.S.C. §§ 77aaa-77bbbb) as in effect on the date of
the Indenture (the “Trust Indenture Act”). Terms used herein and not defined herein have
the meanings ascribed thereto in the Indenture. The Notes are subject to all such terms, and
Noteholders are referred to the Indenture and the Trust Indenture Act for a statement of those
terms. To the extent any provision of this Note conflicts with the express provisions of the
Indenture, the provisions of the Indenture shall govern and be controlling.

     The Notes are senior unsecured obligations of the Company. The Note is one of the Initial
Notes referred to in the Indenture. The Notes include the Initial Notes issued on the Issue Date,
any Additional Notes issued in accordance with Section 2.15 of the Indenture and any Exchange Notes
issued in exchange for the Initial Notes or Additional Notes pursuant to the Indenture and the
Registration Rights Agreement. The Initial Notes, any Additional Notes and the Exchange Notes are
treated as a single class of securities under the Indenture. The Indenture imposes certain
limitations on the ability of the Company and its Subsidiaries to create liens, enter into sale and
leaseback transactions and enter into mergers and consolidations.

     The Notes are guaranteed to the extent provided in the Indenture.

5. Change of Control Repurchase Event

     Upon the occurrence of a Change of Control Repurchase Event, the Company will be required to
make an offer to each Holder to repurchase all or any part (in excess of $2,000 and integral
multiples of $1,000) of such Holder’s Notes at a purchase price in cash equal to 101% of the
principal amount thereof on the date of purchase plus accrued and unpaid interest but not including
the date of purchase, in accordance with the terms contemplated in Section 4.4 of the Indenture.

6. Optional Redemption

     The Notes shall be redeemable, in whole or in part, at any time and from time to time, at the
option of the Company, at a redemption price equal to the greater of (i) 100% of the principal
amount of such Notes and (ii) the sum of the present values of the Remaining Scheduled Payments
thereon (exclusive of interest accrued to the date of redemption) discounted to the Redemption Date
on a semiannual basis (assuming a 360-day year comprised of twelve 30-day months) at the Treasury
Rate plus 0.35% (35 basis points) (the “Make-Whole Amount”), plus accrued and unpaid
interest thereon to, but not including, the Redemption Date.

     “Comparable Treasury Issue” means the United States Treasury security selected by an
Independent Investment Banker as having an actual or interpolated maturity comparable to
the remaining term of the Notes to be redeemed that would be utilized, at the time of
selection and in accordance with customary financial practice, in pricing new issues of corporate
debt securities of comparable maturity to the remaining term of such Notes.

2036-1-5

 

     “Comparable Treasury Price” means, with respect to any Redemption Date, (1) the
arithmetic average of the Reference Treasury Dealer Quotations for such Redemption Date after
excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Trustee
obtains fewer than four Reference Treasury Dealer Quotations, the arithmetic average of all
Reference Treasury Dealer Quotations for such Redemption Date.

     “Independent Investment Banker” means Citigroup Global Markets Inc., J.P. Morgan
Securities Inc. or their respective successors as may be appointed from time to time by the Trustee
after consultation with the Company; provided, however, that if any of the
foregoing ceases to be a Primary Treasury Dealer, the Company will substitute another Primary
Treasury Dealer.

     “Reference Treasury Dealer” means Citigroup Global Markets Inc., J.P. Morgan
Securities Inc. or two other Primary Treasury Dealers selected by the Company, and each of their
respective successors and any other Primary Treasury Dealers selected by the Trustee after
consultation with the Company.

     “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury
Dealer and any Redemption Date, the arithmetic average, as determined by the Trustee, of the bid
and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its
principal amount) quoted in writing to the Trustee by such Reference Treasury Dealer as of 3:30
p.m., New York City time, on the third business day preceding such Redemption Date.

     “Remaining Scheduled Payments” means, with respect to any Note to be redeemed, the
remaining scheduled payments of the principal of and premium, if any, and interest thereon that
would be due after the related Redemption Date but for such redemption; provided,
however, that, if such Redemption Date is not an interest payment date with respect to such
note, the amount of the next scheduled interest payment thereon will be reduced by the amount of
interest accrued thereon to such Redemption Date.

     “Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal
to the semi-annual equivalent yield to maturity (computed as of the third Business Day immediately
preceding that Redemption Date) of the Comparable Treasury Issue. In determining this rate, the
Company will assume a price for the Comparable Treasury Issue (expressed as a percentage of its
principal amount) equal to the Comparable Treasury Price for such Redemption Date.

     Except as set forth above and in Section 5 of the Notes, the Notes shall not be redeemable by
the Company prior to maturity.

     The Notes shall not be entitled to the benefit of any sinking fund.

2036-1-6

 

7 Notice of Redemption

     At least 30 days but not more than 60 days before a date for redemption of Notes of this
series, the Company shall mail a notice of redemption by first-class mail to each Holder of Notes
to be redeemed at its registered address. Notes in denominations of principal amount larger than
$2,000 may be redeemed in part but only in integral multiples of $1,000 in excess thereof. If
money sufficient to pay the redemption price of and accrued and unpaid interest on all Notes (or
portions thereof) to be redeemed on the Redemption Date is deposited with the Paying Agent on or
before 11:00 a.m. (New York City time) on the Redemption Date (or, if the Company or any of its
Subsidiaries is the Paying Agent, such money is segregated and held in trust) and certain other
conditions are satisfied, on and after such date interest shall cease to accrue on such Notes (or
such portions thereof) called for redemption.

8. Registration Rights

     The Company is party to a Registration Rights Agreement, dated as of November 20, 2006, among
the Company, the Subsidiary Guarantors, Citigroup Global Markets Inc. and J.P. Morgan Securities
Inc. and the other Initial Purchasers named therein, pursuant to which it is obligated to pay
Additional Interest upon the occurrence of certain events specified in the Registration Rights
Agreement.

9. Denominations; Transfer; Exchange

     The Notes are in fully registered form without coupons in denominations of principal amount of
$2,000 and integral multiples of $1,000 in excess thereof. A Holder may register, transfer or
exchange Notes in accordance with the Indenture. The Registrar may require a Holder, among other
things, to furnish appropriate endorsements or transfer documents and to pay any taxes and fees
required by law or permitted by the Indenture. The Registrar need not register the transfer of or
exchange any Notes selected for redemption (except, in the case of a Note to be redeemed in part,
the portion of the Note not to be redeemed) for a period beginning 15 days before the mailing of a
notice of redemption of Notes to be redeemed and ending on the date of such mailing.

10. Persons Deemed Owners

     The registered holder of this Note shall be treated as the owner of it for all purposes.

11. Unclaimed Money

     If money for the payment of principal or interest remains unclaimed for two years after the
date of payment of principal and interest, the Trustee or Paying Agent shall pay the money back to
the Company at its request. After any such payment, Holders entitled to the money must look only
to the Company and not to the Trustee for payment.

2036-1-7

 

12. Defeasance

     Subject to certain conditions set forth in the Indenture, the Company at any time may
terminate some or all of its obligations under the Notes of this series and the Indenture as it
relates to Notes of this series if the Company deposits with the Trustee money or U.S. Government
Obligations for the payment of principal of and interest on the Notes to redemption or maturity, as
the case may be.

13. Amendment, Waiver

     Subject to certain exceptions set forth in the Indenture, (i) the Indenture or the Notes may
be amended with the written consent of the Holders of at least a majority in principal amount of
the outstanding Notes and (ii) any default or noncompliance with any provision of the Indenture or
the Notes may be waived with the written consent of the Holders of a majority in principal amount
of the outstanding Notes (including consents obtained in connection with a tender offer or exchange
for Notes). However, the Indenture requires the consent of each Noteholder that would be affected
for certain specified amendments or modifications of the Indenture and the Notes. Subject to
certain exceptions set forth in the Indenture, without the consent of any Noteholder, the Company
and the Trustee may amend the Indenture or the Notes, among other things, to cure any ambiguity,
omission, defect or inconsistency, or to evidence the succession of another Person to the Company
or any Subsidiary Guarantor and the assumption by any such Person of the obligations of the Company
or such Subsidiary Guarantor in accordance with Article V of the Indenture, or to add any
additional Events of Default, or to add to the covenants of the Company or surrender rights and
powers conferred on the Company, or to add one or more guarantees for the benefit of the Holders of
the Notes, or to evidence the release of any Subsidiary Guarantor from its guarantee of the notes
in accordance with the Indenture, or to add collateral security with respect to the Notes or any
Guarantee, or to add or appoint a successor or separate trustee or other agent, or to provide for
the issuance of the Exchange Notes in accordance with the Indenture, or to provide for the issuance
of Additional Notes, or to comply with any requirements in connection with qualifying the Indenture
under the Trust Indenture Act, or to comply with the rules of any applicable securities depository,
or to provide for uncertificated Notes in addition to or in place of certificated Notes, or to
change any other provision if the change does not adversely affect the interests of any Noteholder.

14. Defaults and Remedies

     Under the Indenture, Events of Default include (i) default for 30 days in payment of interest
on the Notes of this series; (ii) default in payment of principal on the Notes of this series at
its stated maturity, upon optional redemption or otherwise; (iii) failure by the Company to
repurchase Notes of this series tendered for repurchase following a Change of Control Repurchase
Event; (iv) failure by the Company to comply with any covenant or agreement in the Indenture or the
Notes, subject to notice and lapse of time; (v) failure to make any payment at maturity, including
any applicable grace period, in respect of Indebtedness of the Company or any of its Subsidiaries
(other than Indebtedness of the Company or of any of its Subsidiaries owing to the Company or any
of its Subsidiaries) with an aggregate principal amount then outstanding in excess of $30,000,000,
subject to certain conditions; (vi) default in respect of other Indebtedness of the Company or any
of its Subsidiaries (other than Indebtedness of the

2036-1-8

 

Company or of any of its Subsidiaries owing to the Company or any of its Subsidiaries) in an
amount in excess of $30,000,000, which results in the acceleration of such Indebtedness, subject to
certain conditions; (vii) certain events of bankruptcy or insolvency involving the Company or any
Subsidiary Guarantor; and (viii) the Guarantee of any Subsidiary Guarantor ceases to be in full
force an effect during its term or any Subsidiary Guarantor denies or disaffirms in writing its
obligations under the Indenture or its Guarantee, other than in connection with the termination of
such Guarantee pursuant to the provisions of the Indenture.

     If an Event of Default occurs and is continuing with respect to notes of this series, the
Trustee or the Holders of at least 25% in aggregate principal amount of the Notes of this series
may declare all the Notes of this series to be due and payable immediately. Certain events of
bankruptcy or insolvency involving the Company are Events of Default which will result in the Notes
of this series being due and payable immediately upon the occurrence of such Events of Default.

     Noteholders may not enforce the Indenture or the Notes except as provided in the Indenture.
The Trustee may refuse to enforce the Indenture or the Notes unless it receives indemnity or
security satisfactory to it. Subject to certain limitations, Holders of a majority in principal
amount of the Notes of this series may direct the Trustee in its exercise of any trust or power.
The Trustee may withhold from Noteholders notice of any continuing Default or Event of Default
(except a Default or Event of Default in payment of principal or interest) if it in good faith
determines that withholding notice is not opposed to their interest.

15. Trustee Dealings with the Company

     Subject to certain limitations set forth in the Indenture, the Trustee under the Indenture, in
its individual or any other capacity, may become the owner or pledgee of Notes and may otherwise
deal with and collect obligations owed to it by the Company and may otherwise deal with the Company
with the same rights it would have if it were not Trustee.

16. No Recourse Against Others

     A director, officer, employee or stockholder (other than the Company), as such, of the Company
shall not have any liability for any obligations of the Company under the Notes, the Indenture or
the Registration Rights Agreement or for any claim based on, in respect of or by reason of such
obligations or their creation. By accepting a Note, each Noteholder waives and releases all such
liability. The waiver and release are part of the consideration for the issue of the Notes.

17. Authentication

     This Note shall not be valid until an authorized signatory of the Trustee (or an
authenticating agent acting on its behalf) manually signs the certificate of authentication on the
other side of this Note.

2036-1-9

 

18. Abbreviations

     Customary abbreviations may be used in the name of a Noteholder or an assignee, such as TEN
COM (tenants in common), TEN ENT (tenants by the entirety), JT TEN (joint tenants with rights of
survivorship and not as tenants in common), CUST (custodian) and U/G/M/A (Uniform Gift to Minors
Act).

19. CUSIP and ISIN Numbers

     The Company has caused CUSIP and ISIN numbers and/or other similar numbers to be printed on
the Notes and has directed the Trustee to use CUSIP and ISIN numbers and/or other similar numbers
in notices of redemption as a convenience to Noteholders. 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.

20. Governing Law

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

2036-1-10

 

ASSIGNMENT FORM

To assign this Note, fill in the form below:

I or we assign and transfer this Note to

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

(Insert assignee’s Social Security or Tax I.D. No.)

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

 

Date:                                                              Your Signature:         
                                 

Signature Guarantee:                                                             

(Signature must be guaranteed by a participant in a recognized Signature Guarantee Medallion
Program or other signature guarantor program reasonably acceptable to the Trustee)

Sign exactly as your name appears on the other side of this Note.

In connection with any transfer or exchange of any of the certificated Notes evidenced by this
certificate occurring prior to the date that is two years after the later of the date of original
issuance of such Notes and the last date, if any, on which such Notes were owned by the Company or
any Affiliate of the Company, the undersigned confirms that such Notes are being transferred:

CHECK ONE BOX BELOW:

	 	 	 	 	 
	 

	 	(1)o
	 	to the Company; or
	 
	 	 	 	 
	 

	 	(2)o
	 	pursuant to a registration statement that has been declared effective
under the Securities Act; or
	 
	 	 	 	 
	 

	 	(3)o
	 	for so long as the Notes are eligible for resale pursuant to Rule 144A
under the Securities Act, to a person it reasonably believes is a
“Qualified Institutional Buyer” as defined in Rule 144A under the
Securities Act that purchases for its own account or for the account
of a Qualified Institutional Buyer to whom notice is given that the
transfer is being made in reliance on Rule 144A; or
	 
	 	 	 	 
	 

	 	(4)o
	 	pursuant to the offers and sales that occur outside the United States
within the meaning of Regulation S under the Securities Act; or
	 
	 	 	 	 
	 

	 	(5)o
	 	to an institutional accredited investor (within the meaning of Rule
501(a)(1), (2), (3) or (7) under the Securities Act) that is not a
qualified institutional buyer and that is purchasing for its own
account or for the account of another institutional accredited
investor, in each case in a minimum principal amount of notes of
$250,000 and not with a view to or for offer or sale in connection
with any distribution in violation of the Securities Act; or

2036-1-11

 

	 	 	 	 	 
	 

	 	(6)o
	 	under any other available exemption from the registration requirements
of the Securities Act.

Unless one of the boxes is checked, the Trustee may refuse to register any of the certificated
Notes evidenced by this certificate in the name of any Person other than the registered holder
thereof; provided, however, that if box (4), (5) or (6) is checked, the Company and
the Trustee may require, prior to registering any such transfer of the Notes, delivery of a legal
opinion, certification and/or other information satisfactory to the Company and the Trustee.

	 	 	 	 	 	 	 
	 

	 	 	 	 

Signature
	 	 
	 
	 	 	 	 	 	 
	Signature Guarantee:
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 

Signature
	 	 
	 
	 	 	 	 	 	 
	(Signature must be guaranteed by a
participant in a recognized Signature
Guarantee Medallion Program or other
signature guarantor program reasonably
acceptable to the Trustee)
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 

2036-1-12

 

TO BE COMPLETED BY PURCHASER IF BOX (3) ABOVE IS CHECKED.

     The undersigned represents and warrants that it is purchasing this certificated Note for its
own account or an account with respect to which it exercises sole investment discretion and that it
and any such account is a “qualified institutional buyer” within the meaning of Rule 144A under the
Securities Act of 1933, and is aware that the sale to it is being made in reliance on Rule 144A and
acknowledges that it has received such information regarding the Company as the undersigned has
requested pursuant to Rule 144A or has determined not to request such information and that it is
aware that the transferor is relying upon the undersigned’s foregoing representations in order to
claim the exemption from registration provided by Rule 144A.

	 	 	 	 	 	 	 	 	 
	Dated:
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	 	 	NOTICE:
	 	To be executed by an

executive officer
	 
	 	 	 	 	 	 	 	 
	Signature Guarantee:	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	Signature

	(Signature must be guaranteed by a
participant in a recognized Signature
Guarantee Medallion Program or other
signature guarantor program reasonably
acceptable to the Trustee)	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 

2036-1-13

 

[TO BE ATTACHED TO GLOBAL SECURITIES]

SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTE

The following increases or decreases in this Global Note have been made:

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Principal Amount of this Global	 	Signature of authorized
	Date of	 	Amount of decrease in Principal	 	Amount of increase in Principal	 	Note following such decrease or	 	signatory of Trustee or
	Exchange	 	Amount of this Global Note	 	Amount of this Global Note	 	increase	 	Securities Custodian
	 
	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 

2036-1-14

 

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS SECURITY NOR ANY
INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED
OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT
FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF,
AGREES ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED
SECURITIES, TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE “RESALE
RESTRICTION TERMINATION DATE”) THAT IS 40 DAYS AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF
AND THE LAST DATE ON WHICH THE COMPANY OR ANY AFFILIATE OF THE COMPANY WAS THE OWNER OF THIS
SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY), ONLY (A) TO THE COMPANY, (B) PURSUANT TO A
REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG
AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT, TO A
PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER
THE SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED
INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE
144A, (D) PURSUANT TO OFFERS AND SALES THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF
REGULATION S UNDER THE SECURITIES ACT, (E) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE
MEANING OF RULE 501(a)(1), (2), (3) OR (7) UNDER THE SECURITIES ACT THAT IS AN INSTITUTIONAL
ACCREDITED INVESTOR ACQUIRING THE SECURITY FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF SUCH AN
INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF THE SECURITIES OF
$250,000, FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO OR FOR OFFER OR SALE IN CONNECTION WITH
ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, OR (F) PURSUANT TO ANOTHER AVAILABLE EXEMPTION
FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE COMPANY’S AND THE
TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES (D), (E) OR (F) TO
REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/ OR OTHER INFORMATION SATISFACTORY
TO EACH OF THEM. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE RESALE
RESTRICTION TERMINATION DATE. BY ITS ACQUISITION HEREOF, THE HOLDER HEREOF REPRESENTS THAT IT IS
NOT A U.S. PERSON NOR IS IT PURCHASING FOR THE ACCOUNT OF A U.S. PERSON AND IS ACQUIRING THIS
SECURITY IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY, A NEW YORK CORPORATION (“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

2016-2-1

 

& CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF
DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO
NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF
THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET
FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF.

RELIANCE STEEL & ALUMINUM CO.

6.200% SENIOR NOTES DUE 2016

	 	 	 	 	 	 	 
	No. 2	 	Principal Amount $0
	 	 	 	 	(subject to adjustment as reflected in the Schedule of Increases and
Decreases in Global Note attached hereto)
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	CUSIP NO. U7588FAB4
	 

	 	 	 	 	 	ISIN NO. USU7588FAB41

     Reliance Steel & Aluminum Co., a California corporation, for value received, promises to pay
to CEDE & CO., or registered assigns, the principal sum of ZERO Dollars (subject to adjustment as
reflected in the Schedule of Increases and Decreases in Global Note attached hereto) on November
15, 2016.

     Interest Payment Dates: May 15 and November 15 of each year, commencing on May 15, 2007,
first interest payment date relating to any Notes.

     Record Dates: May 1 and November 1 of each year.

     Additional provisions of this Note are set forth on the other side of this Note.

2016-2-2

 

     IN WITNESS WHEREOF, RELIANCE STEEL & ALUMINUM CO. has caused this Note to be duly executed.

Dated: November 20, 2006

	 	 	 	 	 	 	 
	 	 	RELIANCE STEEL & ALUMINUM CO.	 	 
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 

TRUSTEE’S CERTIFICATE OF

AUTHENTICATION

This is one of the Notes referred

to in the within-mentioned Indenture.

WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Trustee

	 	 	 	 	 
	By
	 	 	 	 
	 

	 	 

Authorized Signatory
	 	 

Dated: November 20, 2006

[Signature Page to 2016 Note – Regulation S]

2016-2-3

 

[REVERSE SIDE OF INITIAL NOTE]

[Reverse of 2016 Note]

6.200% Senior Notes due 2016

1. Interest

     Reliance Steel & Aluminum Co., a California corporation (together with its successors and
assigns under the Indenture hereinafter referred to, being herein called the “Company”),
promises to pay interest on the principal amount of this Note at the rate of 6.200% per annum;
provided, however, that, upon the occurrence or failure to occur of certain events
specified in the Registration Rights Agreement, the Company shall, subject to the terms and
conditions set forth in the Registration Rights Agreement, pay additional interest on the principal
amount of this Note at a rate of 0.25% per annum for the first 90-day period immediately following
such date and by an additional 0.25% per annum for the subsequent 90-day period, up to a maximum
aggregate of 0.50% per annum, after such event occurs or fails to occur so long as such event
continues or fails to occur, as the case may be. Such additional interest shall be payable in
addition to any other interest payable from time to time with respect to this Note.

     The Company shall pay interest semiannually on May 15 and November 15 of each year (each such
date, an “Interest Payment Date”), commencing on May 15, 2007. Interest on the Notes shall
accrue from November 20, 2006, or from the most recent date to which interest has been paid on the
Notes. Interest shall be computed on the basis of a 360-day year comprised of twelve 30-day
months.

2. Method of Payment

     By no later than 11:00 a.m. (New York City time) on the date on which any principal of or
interest on any Note is due and payable, the Company shall irrevocably deposit with the Trustee or
the Paying Agent money sufficient to pay such principal and/or interest. The Company shall pay
interest (except defaulted interest) to the Persons who are registered Holders of Notes at the
close of business on the May 1 or November 1 immediately preceding the Interest Payment Date even
if Notes are cancelled, repurchased or redeemed after the record date and on or before the Interest
Payment Date. Holders must surrender Notes to a Paying Agent to collect principal payments. The
Company shall pay principal and interest in money of the United States that at the time of payment
is legal tender for payment of public and private debts. Payments in respect of Notes represented
by a Global Note (including principal, premium, if any, and interest) shall be made by the transfer
of immediately available funds to the accounts specified by The Depository Trust Company. The
Company may make all payments in respect of a Definitive Note (including principal, premium, if
any, and interest) by mailing a check to the registered address of each Holder thereof or by wire
transfer to an account located in the United States maintained by the payee.

3. Paying Agent and Registrar

     Wells Fargo Bank, National Association, a national banking association (the
“Trustee”), shall initially act as Paying Agent and Registrar. The Company may appoint and
change any Paying Agent or Registrar without notice to any Noteholder. The Company or any of
its domestically organized wholly owned Subsidiaries may act as Paying Agent.

2016-2-4

 

4. Indenture

     The Company issued the 2016 Notes under an Indenture dated as of November 20, 2006 (as it may
be amended or supplemented from time to time in accordance with the terms thereof, the
“Indenture”), among the Company, the Subsidiary Guarantors 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 (15 U.S.C. §§ 77aaa-77bbbb) as in effect on the date of
the Indenture (the “Trust Indenture Act”). Terms used herein and not defined herein have
the meanings ascribed thereto in the Indenture. The Notes are subject to all such terms, and
Noteholders are referred to the Indenture and the Trust Indenture Act for a statement of those
terms. To the extent any provision of this Note conflicts with the express provisions of the
Indenture, the provisions of the Indenture shall govern and be controlling.

     The Notes are senior unsecured obligations of the Company. The Note is one of the Initial
Notes referred to in the Indenture. The Notes include the Initial Notes issued on the Issue Date,
any Additional Notes issued in accordance with Section 2.15 of the Indenture and any Exchange Notes
issued in exchange for the Initial Notes or Additional Notes pursuant to the Indenture and the
Registration Rights Agreement. The Initial Notes, any Additional Notes and the Exchange Notes are
treated as a single class of securities under the Indenture. The Indenture imposes certain
limitations on the ability of the Company and its Subsidiaries to create liens, enter into sale and
leaseback transactions and enter into mergers and consolidations.

     The Notes are guaranteed to the extent provided in the Indenture.

5. Change of Control Repurchase Event

     Upon the occurrence of a Change of Control Repurchase Event, the Company will be required to
make an offer to each Holder to repurchase all or any part (in excess of $2,000 and integral
multiples of $1,000) of such Holder’s Notes at a purchase price in cash equal to 101% of the
principal amount thereof on the date of purchase plus accrued and unpaid interest to but not
including the date of purchase, in accordance with the terms contemplated in Section 4.4 of the
Indenture.

6. Optional Redemption

     The Notes shall be redeemable, in whole or in part, at any time and from time to time, at the
option of the Company, at a redemption price equal to the greater of (i) 100% of the principal
amount of such Notes and (ii) the sum of the present values of the Remaining Scheduled Payments
thereon (exclusive of interest accrued to the date of redemption) discounted to the Redemption Date
on a semiannual basis (assuming a 360-day year comprised of twelve 30-day months) at the Treasury
Rate plus 0.25% (25 basis points) (the “Make-Whole Amount”), plus accrued and unpaid
interest thereon to, but not including, the Redemption Date.

     “Comparable Treasury Issue” means the United States Treasury security selected by an
Independent Investment Banker as having an actual or interpolated maturity comparable to
the remaining term of the Notes to be redeemed that would be utilized, at the time of
selection and in accordance with customary financial practice, in pricing new issues of corporate
debt securities of comparable maturity to the remaining term of such Notes.

2016-2-5

 

     “Comparable Treasury Price” means, with respect to any Redemption Date, (1) the
arithmetic average of the Reference Treasury Dealer Quotations for such Redemption Date after
excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Trustee
obtains fewer than four Reference Treasury Dealer Quotations, the arithmetic average of all
Reference Treasury Dealer Quotations for such Redemption Date.

     “Independent Investment Banker” means Citigroup Global Markets Inc., J.P. Morgan
Securities Inc. or their respective successors as may be appointed from time to time by the Trustee
after consultation with the Company; provided, however, that if any of the
foregoing ceases to be a Primary Treasury Dealer, the Company will substitute another Primary
Treasury Dealer.

     “Reference Treasury Dealer” means Citigroup Global Markets Inc., J.P. Morgan
Securities Inc. or two other Primary Treasury Dealers selected by the Company, and each of their
respective successors and any other Primary Treasury Dealers selected by the Trustee after
consultation with the Company.

     “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury
Dealer and any Redemption Date, the arithmetic average, as determined by the Trustee, of the bid
and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its
principal amount) quoted in writing to the Trustee by such Reference Treasury Dealer as of 3:30
p.m., New York City time, on the third business day preceding such Redemption Date.

     “Remaining Scheduled Payments” means, with respect to any Note to be redeemed, the
remaining scheduled payments of the principal of and premium, if any, and interest thereon that
would be due after the related Redemption Date but for such redemption; provided,
however, that, if such Redemption Date is not an interest payment date with respect to such
note, the amount of the next scheduled interest payment thereon will be reduced by the amount of
interest accrued thereon to such Redemption Date.

     “Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal
to the semi-annual equivalent yield to maturity (computed as of the third Business Day immediately
preceding that Redemption Date) of the Comparable Treasury Issue. In determining this rate, the
Company will assume a price for the Comparable Treasury Issue (expressed as a percentage of its
principal amount) equal to the Comparable Treasury Price for such Redemption Date.

     Except as set forth above and in Section 5 of the Notes, the Notes shall not be redeemable by
the Company prior to maturity.

     The Notes shall not be entitled to the benefit of any sinking fund.

2016-2-6

 

7 Notice of Redemption

     At least 30 days but not more than 60 days before a date for redemption of Notes of this
series, the Company shall mail a notice of redemption by first-class mail to each Holder of Notes
to be redeemed at its registered address. Notes in denominations of principal amount larger than
$2,000 may be redeemed in part but only in integral multiples of $1,000 in excess thereof. If
money sufficient to pay the redemption price of and accrued and unpaid interest on all Notes (or
portions thereof) to be redeemed on the Redemption Date is deposited with the Paying Agent on or
before 11:00 a.m. (New York City time) on the Redemption Date (or, if the Company or any of its
Subsidiaries is the Paying Agent, such money is segregated and held in trust) and certain other
conditions are satisfied, on and after such date interest shall cease to accrue on such Notes (or
such portions thereof) called for redemption.

8. Registration Rights

     The Company is party to a Registration Rights Agreement, dated as of November 20, 2006, among
the Company, the Subsidiary Guarantors, Citigroup Global Markets Inc. and J.P. Morgan Securities
Inc. and the other Initial Purchasers named therein, pursuant to which it is obligated to pay
Additional Interest upon the occurrence of certain events specified in the Registration Rights
Agreement.

9. Denominations; Transfer; Exchange

     The Notes are in fully registered form without coupons in denominations of principal amount of
$2,000 and integral multiples of $1,000 in excess thereof. A Holder may register, transfer or
exchange Notes in accordance with the Indenture. The Registrar may require a Holder, among other
things, to furnish appropriate endorsements or transfer documents and to pay any taxes and fees
required by law or permitted by the Indenture. The Registrar need not register the transfer of or
exchange any Notes selected for redemption (except, in the case of a Note to be redeemed in part,
the portion of the Note not to be redeemed) for a period beginning 15 days before the mailing of a
notice of redemption of Notes to be redeemed and ending on the date of such mailing.

10. Persons Deemed Owners

     The registered holder of this Note shall be treated as the owner of it for all purposes.

11. Unclaimed Money

     If money for the payment of principal or interest remains unclaimed for two years after the
date of payment of principal and interest, the Trustee or Paying Agent shall pay the money back to
the Company at its request. After any such payment, Holders entitled to the money must look only
to the Company and not to the Trustee for payment.

2016-2-7

 

12. Defeasance

     Subject to certain conditions set forth in the Indenture, the Company at any time may
terminate some or all of its obligations under the Notes of this series and the Indenture as it
relates to Notes of this series if the Company deposits with the Trustee money or U.S. Government
Obligations for the payment of principal of and interest on the Notes to redemption or maturity, as
the case may be.

13. Amendment, Waiver

     Subject to certain exceptions set forth in the Indenture, (i) the Indenture or the Notes may
be amended with the written consent of the Holders of at least a majority in principal amount of
the outstanding Notes and (ii) any default or noncompliance with any provision of the Indenture or
the Notes may be waived with the written consent of the Holders of a majority in principal amount
of the outstanding Notes (including consents obtained in connection with a tender offer or exchange
for Notes). However, the Indenture requires the consent of each Noteholder that would be affected
for certain specified amendments or modifications of the Indenture and the Notes. Subject to
certain exceptions set forth in the Indenture, without the consent of any Noteholder, the Company
and the Trustee may amend the Indenture or the Notes, among other things, to cure any ambiguity,
omission, defect or inconsistency, or to evidence the succession of another Person to the Company
or any Subsidiary Guarantor and the assumption by any such Person of the obligations of the Company
or such Subsidiary Guarantor in accordance with Article V of the Indenture, or to add any
additional Events of Default, or to add to the covenants of the Company or surrender rights and
powers conferred on the Company, or to add one or more guarantees for the benefit of the Holders of
the Notes, or to evidence the release of any Subsidiary Guarantor from its guarantee of the notes
in accordance with the Indenture, or to add collateral security with respect to the Notes or any
Guarantee, or to add or appoint a successor or separate trustee or other agent, or to provide for
the issuance of the Exchange Notes in accordance with the Indenture, or to provide for the issuance
of Additional Notes, or to comply with any requirements in connection with qualifying the Indenture
under the Trust Indenture Act, or to comply with the rules of any applicable securities depository,
or to provide for uncertificated Notes in addition to or in place of certificated Notes, or to
change any other provision if the change does not adversely affect the interests of any Noteholder.

14. Defaults and Remedies

     Under the Indenture, Events of Default include (i) default for 30 days in payment of interest
on the Notes of this series ; (ii) default in payment of principal on the Notes of this series at
its stated maturity date, upon optional redemption or otherwise; (iii) failure by the Company to
repurchase Notes of this series tendered for repurchase following a Change of Control Repurchase
Event; (iv) failure by the Company to comply with any covenant or agreement in the Indenture or the
Notes, subject to notice and lapse of time; (v) failure to make any payment at maturity, including
any applicable grace period, in respect of Indebtedness of the Company or any of its Subsidiaries
(other than Indebtedness of the Company or of any of its Subsidiaries owing to the Company or any
of its Subsidiaries) with an aggregate principal amount then outstanding in excess of $30,000,000,
subject to certain conditions; (vi) default in respect of other Indebtedness of the Company or any
of its Subsidiaries (other than Indebtedness

2016-2-8

 

of the Company or of any of its Subsidiaries owing to the Company or any of its Subsidiaries)
in an amount in excess of $30,000,000, which results in the acceleration of such Indebtedness,
subject to certain conditions; (vii) certain events of bankruptcy or insolvency involving the
Company or any Subsidiary Guarantor; and (viii) the Guarantee of any Subsidiary Guarantor ceases to
be in full force an effect during its term or any Subsidiary Guarantor denies or disaffirms in
writing its obligations under the Indenture or its Guarantee, other than in connection with the
termination of such Guarantee pursuant to the provisions of the Indenture.

     If an Event of Default occurs and is continuing with respect to the Notes of this series, the
Trustee or the Holders of at least 25% in aggregate principal amount of the Notes of this series
may declare all the Notes of this series to be due and payable immediately. Certain events of
bankruptcy or insolvency involving the Company are Events of Default which will result in the Notes
of this series being due and payable immediately upon the occurrence of such Events of Default.

     Noteholders may not enforce the Indenture or the Notes except as provided in the Indenture.
The Trustee may refuse to enforce the Indenture or the Notes unless it receives indemnity or
security satisfactory to it. Subject to certain limitations, Holders of a majority in principal
amount of the Notes of this series may direct the Trustee in its exercise of any trust or power.
The Trustee may withhold from Noteholders notice of any continuing Default or Event of Default
(except a Default or Event of Default in payment of principal or interest) if it in good faith
determines that withholding notice is not opposed to their interest.

15. Trustee Dealings with the Company

     Subject to certain limitations set forth in the Indenture, the Trustee under the Indenture, in
its individual or any other capacity, may become the owner or pledgee of Notes and may otherwise
deal with and collect obligations owed to it by the Company and may otherwise deal with the Company
with the same rights it would have if it were not Trustee.

16. No Recourse Against Others

     A director, officer, employee or stockholder (other than the Company), as such, of the Company
shall not have any liability for any obligations of the Company under the Notes, the Indenture or
the Registration Rights Agreement or for any claim based on, in respect of or by reason of such
obligations or their creation. By accepting a Note, each Noteholder waives and releases all such
liability. The waiver and release are part of the consideration for the issue of the Notes.

17. Authentication

     This Note shall not be valid until an authorized signatory of the Trustee (or an
authenticating agent acting on its behalf) manually signs the certificate of authentication on the
other side of this Note.

2016-2-9

 

18. Abbreviations

     Customary abbreviations may be used in the name of a Noteholder or an assignee, such as TEN
COM (tenants in common), TEN ENT (tenants by the entirety), JT TEN (joint tenants with rights of
survivorship and not as tenants in common), CUST (custodian) and U/G/M/A (Uniform Gift to Minors
Act).

19. CUSIP and ISIN Numbers

     The Company has caused CUSIP and ISIN numbers and/or other similar numbers to be printed on
the Notes and has directed the Trustee to use CUSIP and ISIN numbers and/or other similar numbers
in notices of redemption as a convenience to Noteholders. 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.

20. Governing Law

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

2016-2-10

 

ASSIGNMENT FORM

To assign this Note, fill in the form below:

I or we assign and transfer this Note to

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

(Insert assignee’s Social Security or Tax I.D. No.)

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

 

Date:                                                               Your Signature:  
              
                          

Signature Guarantee:                                                             

(Signature must be guaranteed by a participant in a recognized Signature Guarantee Medallion
Program or other signature guarantor program reasonably acceptable to the Trustee)

Sign exactly as your name appears on the other side of this Note.

In connection with any transfer or exchange of any of the certificated Notes evidenced by this
certificate occurring prior to the date that is two years after the later of the date of original
issuance of such Notes and the last date, if any, on which such Notes were owned by the Company or
any Affiliate of the Company, the undersigned confirms that such Notes are being transferred:

CHECK ONE BOX BELOW:

	 	 	 	 	 
	 

	 	(1)o
	 	to the Company; or
	 
	 	 	 	 
	 

	 	(2)o
	 	pursuant to a registration statement that has been declared effective
under the Securities Act; or
	 
	 	 	 	 
	 

	 	(3)o
	 	for so long as the Notes are eligible for resale pursuant to Rule 144A
under the Securities Act, to a person it reasonably believes is a
“Qualified Institutional Buyer” as defined in Rule 144A under the
Securities Act that purchases for its own account or for the account
of a Qualified Institutional Buyer to whom notice is given that the
transfer is being made in reliance on Rule 144A; or
	 
	 	 	 	 
	 

	 	(4)o
	 	pursuant to the offers and sales that occur outside the United States
within the meaning of Regulation S under the Securities Act; or
	 
	 	 	 	 
	 

	 	(5)o
	 	to an institutional accredited investor (within the meaning of Rule
501(a)(1), (2), (3) or (7) under the Securities Act) that is not a
qualified institutional buyer and that is purchasing for its own
account or for the account of another institutional accredited
investor, in each case in a minimum principal amount of notes of
$250,000 and not with a view to or for offer or sale in connection
with any distribution in violation of the Securities Act; or

2016-2-11

 

	 	 	 	 	 
	 

	 	(6)o
	 	under any other available exemption from the registration requirements
of the Securities Act.

Unless one of the boxes is checked, the Trustee may refuse to register any of the certificated
Notes evidenced by this certificate in the name of any Person other than the registered holder
thereof; provided, however, that if box (4), (5) or (6) is checked, the Company and
the Trustee may require, prior to registering any such transfer of the Notes, delivery of a legal
opinion, certification and/or other information satisfactory to the Company and the Trustee.

	 	 	 	 	 	 	 
	 

	 	 	 	 

Signature
	 	 
	 
	 	 	 	 	 	 
	Signature Guarantee:
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 

Signature
	 	 
	 
	 	 	 	 	 	 
	(Signature must be guaranteed by a
participant in a recognized Signature
Guarantee Medallion Program or other
signature guarantor program reasonably
acceptable to the Trustee)
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 

2016-2-12

 

TO BE COMPLETED BY PURCHASER IF BOX (3) ABOVE IS CHECKED.

     The undersigned represents and warrants that it is purchasing this certificated Note for its
own account or an account with respect to which it exercises sole investment discretion and that it
and any such account is a “qualified institutional buyer” within the meaning of Rule 144A under the
Securities Act of 1933, and is aware that the sale to it is being made in reliance on Rule 144A and
acknowledges that it has received such information regarding the Company as the undersigned has
requested pursuant to Rule 144A or has determined not to request such information and that it is
aware that the transferor is relying upon the undersigned’s foregoing representations in order to
claim the exemption from registration provided by Rule 144A.

	 	 	 	 	 	 	 	 	 
	Dated:
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	 	 	NOTICE:
	 	To be executed by an

executive officer
	 
	 	 	 	 	 	 	 	 
	Signature Guarantee:	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	Signature

	(Signature must be guaranteed by a
participant in a recognized Signature
Guarantee Medallion Program or other
signature guarantor program reasonably
acceptable to the Trustee)	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

2016-2-13

 

[TO BE ATTACHED TO GLOBAL SECURITIES]

SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTE

The following increases or decreases in this Global Note have been made:

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Principal Amount of this Global	 	Signature of authorized
	Date of	 	Amount of decrease in Principal	 	Amount of increase in Principal	 	Note following such decrease or	 	signatory of Trustee or
	Exchange	 	Amount of this Global Note	 	Amount of this Global Note	 	increase	 	Securities Custodian
	 
	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 

2016-2-14

 

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS SECURITY NOR ANY
INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED
OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT
FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF,
AGREES ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED
SECURITIES, TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE “RESALE
RESTRICTION TERMINATION DATE”) THAT IS 40 DAYS AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF
AND THE LAST DATE ON WHICH THE COMPANY OR ANY AFFILIATE OF THE COMPANY WAS THE OWNER OF THIS
SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY), ONLY (A) TO THE COMPANY, (B) PURSUANT TO A
REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG
AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT, TO A
PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER
THE SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED
INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE
144A, (D) PURSUANT TO OFFERS AND SALES THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF
REGULATION S UNDER THE SECURITIES ACT, (E) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE
MEANING OF RULE 501(a)(1), (2), (3) OR (7) UNDER THE SECURITIES ACT THAT IS AN INSTITUTIONAL
ACCREDITED INVESTOR ACQUIRING THE SECURITY FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF SUCH AN
INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF THE SECURITIES OF
$250,000, FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO OR FOR OFFER OR SALE IN CONNECTION WITH
ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, OR (F) PURSUANT TO ANOTHER AVAILABLE EXEMPTION
FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE COMPANY’S AND THE
TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES (D), (E) OR (F) TO
REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/ OR OTHER INFORMATION SATISFACTORY
TO EACH OF THEM. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE RESALE
RESTRICTION TERMINATION DATE. BY ITS ACQUISITION HEREOF, THE HOLDER HEREOF REPRESENTS THAT IT IS
NOT A U.S. PERSON NOR IS IT PURCHASING FOR THE ACCOUNT OF A U.S. PERSON AND IS ACQUIRING THIS
SECURITY IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY, A NEW YORK CORPORATION (“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

2036-2-1

 

& CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF
DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO
NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF
THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET
FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF.

RELIANCE STEEL & ALUMINUM CO.

6.850% SENIOR NOTES DUE 2036

	 	 	 	 	 	 	 
	No. 2	 	Principal Amount $0
	 	 	 	 	(subject to adjustment as reflected in the Schedule of Increases and
Decreases in Global Note attached hereto)
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	CUSIP NO. U7588FAA6
	 

	 	 	 	 	 	ISIN NO. USU7588FAA67

     Reliance Steel & Aluminum Co., a California corporation, for value received, promises to pay
to CEDE & CO., or registered assigns, the principal sum of ZERO Dollars (subject to adjustment as
reflected in the Schedule of Increases and Decreases in Global Note attached hereto) on November
15, 2036.

     Interest Payment Dates: May 15 and November 15 of each year, commencing on May 15, 2007,
first interest payment date relating to any Notes.

     Record Dates: May 1 and November 1 of each year.

     Additional provisions of this Note are set forth on the other side of this Note.

2036-2-2

 

     IN WITNESS WHEREOF, RELIANCE STEEL & ALUMINUM CO. has caused this Note to be duly executed.

Dated: November 20, 2006

	 	 	 	 	 	 	 
	 	 	RELIANCE STEEL & ALUMINUM CO.	 	 
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 

TRUSTEE’S CERTIFICATE OF

AUTHENTICATION

This is one of the Notes referred

to in the within-mentioned Indenture.

WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Trustee

	 	 	 	 	 
	By
	 	 	 	 
	 

	 	 

Authorized Signatory
	 	 

Dated: November 20, 2006

[Signature Page to the 2036 Note – Regulation S]

2036-2-3

 

[REVERSE SIDE OF INITIAL NOTE]

[Reverse of 2036 Note]

6.850% Senior Notes due 2036

1. Interest

     Reliance Steel & Aluminum Co., a California corporation (together with its successors and
assigns under the Indenture hereinafter referred to, being herein called the “Company”),
promises to pay interest on the principal amount of this Note at the rate of 6.850% per annum;
provided, however, that, upon the occurrence or failure to occur of certain events
specified in the Registration Rights Agreement, the Company shall, subject to the terms and
conditions set forth in the Registration Rights Agreement, pay additional interest on the principal
amount of this Note at a rate of 0.25% per annum for the first 90-day period immediately following
such date and by an additional 0.25% per annum for the subsequent 90-day period, up to a maximum
aggregate of 0.50% per annum, after such event occurs or fails to occur so long as such event
continues or fails to occur, as the case may be. Such additional interest shall be payable in
addition to any other interest payable from time to time with respect to this Note.

     The Company shall pay interest semiannually on May 15 and November 15 of each year (each such
date, an “Interest Payment Date”), commencing on May 15, 2007. Interest on the Notes shall
accrue from November 20, 2006, or from the most recent date to which interest has been paid on the
Notes. Interest shall be computed on the basis of a 360-day year comprised of twelve 30-day
months.

2. Method of Payment

     By no later than 11:00 a.m. (New York City time) on the date on which any principal of or
interest on any Note is due and payable, the Company shall irrevocably deposit with the Trustee or
the Paying Agent money sufficient to pay such principal and/or interest. The Company shall pay
interest (except defaulted interest) to the Persons who are registered Holders of Notes at the
close of business on the May 1 or November 1 immediately preceding the Interest Payment Date even
if Notes are cancelled, repurchased or redeemed after the record date and on or before the Interest
Payment Date. Holders must surrender Notes to a Paying Agent to collect principal payments. The
Company shall pay principal and interest in money of the United States that at the time of payment
is legal tender for payment of public and private debts. Payments in respect of Notes represented
by a Global Note (including principal, premium, if any, and interest) shall be made by the transfer
of immediately available funds to the accounts specified by The Depository Trust Company. The
Company may make all payments in respect of a Definitive Note (including principal, premium, if
any, and interest) by mailing a check to the registered address of each Holder thereof or by wire
transfer to an account located in the United States maintained by the payee.

3. Paying Agent and Registrar

     Wells Fargo Bank, National Association, a national banking association (the
“Trustee”), shall initially act as Paying Agent and Registrar. The Company may appoint and
change any Paying Agent or Registrar without notice to any Noteholder. The Company or any of
its domestically organized wholly owned Subsidiaries may act as Paying Agent.

2036-2-4

 

4. Indenture

     The Company issued the 2036 Notes under an Indenture dated as of November 20, 2006 (as it may
be amended or supplemented from time to time in accordance with the terms thereof, the
“Indenture”), among the Company, the Subsidiary Guarantors 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 (15 U.S.C. §§ 77aaa-77bbbb) as in effect on the date of
the Indenture (the “Trust Indenture Act”). Terms used herein and not defined herein have
the meanings ascribed thereto in the Indenture. The Notes are subject to all such terms, and
Noteholders are referred to the Indenture and the Trust Indenture Act for a statement of those
terms. To the extent any provision of this Note conflicts with the express provisions of the
Indenture, the provisions of the Indenture shall govern and be controlling.

     The Notes are senior unsecured obligations of the Company. The Note is one of the Initial
Notes referred to in the Indenture. The Notes include the Initial Notes issued on the Issue Date,
any Additional Notes issued in accordance with Section 2.15 of the Indenture and any Exchange Notes
issued in exchange for the Initial Notes or Additional Notes pursuant to the Indenture and the
Registration Rights Agreement. The Initial Notes, any Additional Notes and the Exchange Notes are
treated as a single class of securities under the Indenture. The Indenture imposes certain
limitations on the ability of the Company and its Subsidiaries to create liens, enter into sale and
leaseback transactions and enter into mergers and consolidations.

     The Notes are guaranteed to the extent provided in the Indenture.

5. Change of Control Repurchase Event

     Upon the occurrence of a Change of Control Repurchase Event, the Company will be required to
make an offer to each Holder to repurchase all or any part (in excess of $2,000 and integral
multiples of $1,000) of such Holder’s Notes at a purchase price in cash equal to 101% of the
principal amount thereof on the date of purchase plus accrued and unpaid interest but not including
the date of purchase, in accordance with the terms contemplated in Section 4.4 of the Indenture.

6. Optional Redemption

     The Notes shall be redeemable, in whole or in part, at any time and from time to time, at the
option of the Company, at a redemption price equal to the greater of (i) 100% of the principal
amount of such Notes and (ii) the sum of the present values of the Remaining Scheduled Payments
thereon (exclusive of interest accrued to the date of redemption) discounted to the Redemption Date
on a semiannual basis (assuming a 360-day year comprised of twelve 30-day months) at the Treasury
Rate plus 0.35% (35 basis points) (the “Make-Whole Amount”), plus accrued and unpaid
interest thereon to, but not including, the Redemption Date.

     “Comparable Treasury Issue” means the United States Treasury security selected by an
Independent Investment Banker as having an actual or interpolated maturity comparable to
the remaining term of the Notes to be redeemed that would be utilized, at the time of
selection and in accordance with customary financial practice, in pricing new issues of corporate
debt securities of comparable maturity to the remaining term of such Notes.

2036-2-5

 

     “Comparable Treasury Price” means, with respect to any Redemption Date, (1) the
arithmetic average of the Reference Treasury Dealer Quotations for such Redemption Date after
excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Trustee
obtains fewer than four Reference Treasury Dealer Quotations, the arithmetic average of all
Reference Treasury Dealer Quotations for such Redemption Date.

     “Independent Investment Banker” means Citigroup Global Markets Inc., J.P. Morgan
Securities Inc. or their respective successors as may be appointed from time to time by the Trustee
after consultation with the Company; provided, however, that if any of the
foregoing ceases to be a Primary Treasury Dealer, the Company will substitute another Primary
Treasury Dealer.

     “Reference Treasury Dealer” means Citigroup Global Markets Inc., J.P. Morgan
Securities Inc. or two other Primary Treasury Dealers selected by the Company, and each of their
respective successors and any other Primary Treasury Dealers selected by the Trustee after
consultation with the Company.

     “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury
Dealer and any Redemption Date, the arithmetic average, as determined by the Trustee, of the bid
and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its
principal amount) quoted in writing to the Trustee by such Reference Treasury Dealer as of 3:30
p.m., New York City time, on the third business day preceding such Redemption Date.

     “Remaining Scheduled Payments” means, with respect to any Note to be redeemed, the
remaining scheduled payments of the principal of and premium, if any, and interest thereon that
would be due after the related Redemption Date but for such redemption; provided,
however, that, if such Redemption Date is not an interest payment date with respect to such
note, the amount of the next scheduled interest payment thereon will be reduced by the amount of
interest accrued thereon to such Redemption Date.

     “Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal
to the semi-annual equivalent yield to maturity (computed as of the third Business Day immediately
preceding that Redemption Date) of the Comparable Treasury Issue. In determining this rate, the
Company will assume a price for the Comparable Treasury Issue (expressed as a percentage of its
principal amount) equal to the Comparable Treasury Price for such Redemption Date.

     Except as set forth above and in Section 5 of the Notes, the Notes shall not be redeemable by
the Company prior to maturity.

     The Notes shall not be entitled to the benefit of any sinking fund.

2036-2-6

 

7. Notice of Redemption

     At least 30 days but not more than 60 days before a date for redemption of Notes of this
series, the Company shall mail a notice of redemption by first-class mail to each Holder of Notes
to be redeemed at its registered address. Notes in denominations of principal amount larger than
$2,000 may be redeemed in part but only in integral multiples of $1,000 in excess thereof. If
money sufficient to pay the redemption price of and accrued and unpaid interest on all Notes (or
portions thereof) to be redeemed on the Redemption Date is deposited with the Paying Agent on or
before 11:00 a.m. (New York City time) on the Redemption Date (or, if the Company or any of its
Subsidiaries is the Paying Agent, such money is segregated and held in trust) and certain other
conditions are satisfied, on and after such date interest shall cease to accrue on such Notes (or
such portions thereof) called for redemption.

8. Registration Rights

     The Company is party to a Registration Rights Agreement, dated as of November 20, 2006, among
the Company, the Subsidiary Guarantors, Citigroup Global Markets Inc. and J.P. Morgan Securities
Inc. and the other Initial Purchasers named therein, pursuant to which it is obligated to pay
Additional Interest upon the occurrence of certain events specified in the Registration Rights
Agreement.

9. Denominations; Transfer; Exchange

     The Notes are in fully registered form without coupons in denominations of principal amount of
$2,000 and integral multiples of $1,000 in excess thereof. A Holder may register, transfer or
exchange Notes in accordance with the Indenture. The Registrar may require a Holder, among other
things, to furnish appropriate endorsements or transfer documents and to pay any taxes and fees
required by law or permitted by the Indenture. The Registrar need not register the transfer of or
exchange any Notes selected for redemption (except, in the case of a Note to be redeemed in part,
the portion of the Note not to be redeemed) for a period beginning 15 days before the mailing of a
notice of redemption of Notes to be redeemed and ending on the date of such mailing.

10. Persons Deemed Owners

     The registered holder of this Note shall be treated as the owner of it for all purposes.

11. Unclaimed Money

     If money for the payment of principal or interest remains unclaimed for two years after the
date of payment of principal and interest, the Trustee or Paying Agent shall pay the money back to
the Company at its request. After any such payment, Holders entitled to the money must look only
to the Company and not to the Trustee for payment.

2036-2-7

 

12. Defeasance

     Subject to certain conditions set forth in the Indenture, the Company at any time may
terminate some or all of its obligations under the Notes of this series and the Indenture as it
relates to Notes of this series if the Company deposits with the Trustee money or U.S. Government
Obligations for the payment of principal of and interest on the Notes to redemption or maturity, as
the case may be.

13. Amendment, Waiver

     Subject to certain exceptions set forth in the Indenture, (i) the Indenture or the Notes may
be amended with the written consent of the Holders of at least a majority in principal amount of
the outstanding Notes and (ii) any default or noncompliance with any provision of the Indenture or
the Notes may be waived with the written consent of the Holders of a majority in principal amount
of the outstanding Notes (including consents obtained in connection with a tender offer or exchange
for Notes). However, the Indenture requires the consent of each Noteholder that would be affected
for certain specified amendments or modifications of the Indenture and the Notes. Subject to
certain exceptions set forth in the Indenture, without the consent of any Noteholder, the Company
and the Trustee may amend the Indenture or the Notes, among other things, to cure any ambiguity,
omission, defect or inconsistency, or to evidence the succession of another Person to the Company
or any Subsidiary Guarantor and the assumption by any such Person of the obligations of the Company
or such Subsidiary Guarantor in accordance with Article V of the Indenture, or to add any
additional Events of Default, or to add to the covenants of the Company or surrender rights and
powers conferred on the Company, or to add one or more guarantees for the benefit of the Holders of
the Notes, or to evidence the release of any Subsidiary Guarantor from its guarantee of the notes
in accordance with the Indenture, or to add collateral security with respect to the Notes or any
Guarantee, or to add or appoint a successor or separate trustee or other agent, or to provide for
the issuance of the Exchange Notes in accordance with the Indenture, or to provide for the issuance
of Additional Notes, or to comply with any requirements in connection with qualifying the Indenture
under the Trust Indenture Act, or to comply with the rules of any applicable securities depository,
or to provide for uncertificated Notes in addition to or in place of certificated Notes, or to
change any other provision if the change does not adversely affect the interests of any Noteholder.

14. Defaults and Remedies

     Under the Indenture, Events of Default include (i) default for 30 days in payment of interest
on the Notes of this series; (ii) default in payment of principal on the Notes of this series at
its stated maturity, upon optional redemption or otherwise; (iii) failure by the Company to
repurchase Notes of this series tendered for repurchase following a Change of Control Repurchase
Event; (iv) failure by the Company to comply with any covenant or agreement in the Indenture or the
Notes, subject to notice and lapse of time; (v) failure to make any payment at maturity, including
any applicable grace period, in respect of Indebtedness of the Company or any of its Subsidiaries
(other than Indebtedness of the Company or of any of its Subsidiaries owing to the Company or any
of its Subsidiaries) with an aggregate principal amount then outstanding in excess of $30,000,000,
subject to certain conditions; (vi) default in respect of other Indebtedness of the Company or any
of its Subsidiaries (other than Indebtedness of the

2036-2-8

 

Company or of any of its Subsidiaries owing to the Company or any of its Subsidiaries) in an
amount in excess of $30,000,000, which results in the acceleration of such Indebtedness, subject to
certain conditions; (vii) certain events of bankruptcy or insolvency involving the Company or any
Subsidiary Guarantor; and (viii) the Guarantee of any Subsidiary Guarantor ceases to be in full
force an effect during its term or any Subsidiary Guarantor denies or disaffirms in writing its
obligations under the Indenture or its Guarantee, other than in connection with the termination of
such Guarantee pursuant to the provisions of the Indenture.

     If an Event of Default occurs and is continuing with respect to notes of this series, the
Trustee or the Holders of at least 25% in aggregate principal amount of the Notes of this series
may declare all the Notes of this series to be due and payable immediately. Certain events of
bankruptcy or insolvency involving the Company are Events of Default which will result in the Notes
of this series being due and payable immediately upon the occurrence of such Events of Default.

     Noteholders may not enforce the Indenture or the Notes except as provided in the Indenture.
The Trustee may refuse to enforce the Indenture or the Notes unless it receives indemnity or
security satisfactory to it. Subject to certain limitations, Holders of a majority in principal
amount of the Notes of this series may direct the Trustee in its exercise of any trust or power.
The Trustee may withhold from Noteholders notice of any continuing Default or Event of Default
(except a Default or Event of Default in payment of principal or interest) if it in good faith
determines that withholding notice is not opposed to their interest.

15. Trustee Dealings with the Company

     Subject to certain limitations set forth in the Indenture, the Trustee under the Indenture, in
its individual or any other capacity, may become the owner or pledgee of Notes and may otherwise
deal with and collect obligations owed to it by the Company and may otherwise deal with the Company
with the same rights it would have if it were not Trustee.

16. No Recourse Against Others

     A director, officer, employee or stockholder (other than the Company), as such, of the Company
shall not have any liability for any obligations of the Company under the Notes, the Indenture or
the Registration Rights Agreement or for any claim based on, in respect of or by reason of such
obligations or their creation. By accepting a Note, each Noteholder waives and releases all such
liability. The waiver and release are part of the consideration for the issue of the Notes.

17. Authentication

     This Note shall not be valid until an authorized signatory of the Trustee (or an
authenticating agent acting on its behalf) manually signs the certificate of authentication on the
other side of this Note.

2036-2-9

 

18. Abbreviations

     Customary abbreviations may be used in the name of a Noteholder or an assignee, such as TEN
COM (tenants in common), TEN ENT (tenants by the entirety), JT TEN (joint tenants with rights of
survivorship and not as tenants in common), CUST (custodian) and U/G/M/A (Uniform Gift to Minors
Act).

19. CUSIP and ISIN Numbers

     The Company has caused CUSIP and ISIN numbers and/or other similar numbers to be printed on
the Notes and has directed the Trustee to use CUSIP and ISIN numbers and/or other similar numbers
in notices of redemption as a convenience to Noteholders. 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.

20. Governing Law

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

2036-2-10

 

ASSIGNMENT FORM

          To assign this Note, fill in the form below:

          I or we assign and transfer this Note to

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

(Insert assignee’s Social Security or Tax I.D. No.)

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

 

Date:                                                                        
          Your Signature:                                                             

Signature Guarantee:                                                                     
            

(Signature must be guaranteed by a participant in a recognized Signature Guarantee Medallion
Program or other signature guarantor program reasonably acceptable to the Trustee)

Sign exactly as your name appears on the other side of this Note.

In connection with any transfer or exchange of any of the certificated Notes evidenced by this
certificate occurring prior to the date that is two years after the later of the date of original
issuance of such Notes and the last date, if any, on which such Notes were owned by the Company or
any Affiliate of the Company, the undersigned confirms that such Notes are being transferred:

CHECK ONE BOX BELOW:

	 	 	 	 	 
	 

	 	(1)o
	 	to the Company; or
	 
	 	 	 	 
	 

	 	(2)o
	 	pursuant to a registration statement that has been declared effective
under the Securities Act; or
	 
	 	 	 	 
	 

	 	(3)o
	 	for so long as the Notes are eligible for resale pursuant to Rule 144A
under the Securities Act, to a person it reasonably believes is a
“Qualified Institutional Buyer” as defined in Rule 144A under the
Securities Act that purchases for its own account or for the account
of a Qualified Institutional Buyer to whom notice is given that the
transfer is being made in reliance on Rule 144A; or
	 
	 	 	 	 
	 

	 	(4)o
	 	pursuant to the offers and sales that occur outside the United States
within the meaning of Regulation S under the Securities Act; or
	 
	 	 	 	 
	 

	 	(5)o
	 	to an institutional accredited investor (within the meaning of Rule
501(a)(1), (2), (3) or (7) under the Securities Act) that is not a
qualified institutional buyer and that is purchasing for its own
account or for the account of another institutional accredited
investor, in each case in a minimum principal amount of notes of
$250,000 and not with a view to or for offer or sale in connection
with any distribution in violation of the Securities Act; or

2036-2-11

 

	 	 	 	 	 
	 

	 	(6)o
	 	under any other available exemption from the registration requirements
of the Securities Act.

Unless one of the boxes is checked, the Trustee may refuse to register any of the certificated
Notes evidenced by this certificate in the name of any Person other than the registered holder
thereof; provided, however, that if box (4), (5) or (6) is checked, the Company and
the Trustee may require, prior to registering any such transfer of the Notes, delivery of a legal
opinion, certification and/or other information satisfactory to the Company and the Trustee.

	 	 	 	 	 	 	 
	 

	 	 	 	 

Signature
	 	 
	 
	 	 	 	 	 	 
	Signature Guarantee:
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 

Signature
	 	 
	 
	 	 	 	 	 	 
	(Signature must be guaranteed by a
participant in a recognized Signature
Guarantee Medallion Program or other
signature guarantor program reasonably
acceptable to the Trustee)
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 

2036-2-12

 

TO BE COMPLETED BY PURCHASER IF BOX (3) ABOVE IS CHECKED.

     The undersigned represents and warrants that it is purchasing this certificated Note for its
own account or an account with respect to which it exercises sole investment discretion and that it
and any such account is a “qualified institutional buyer” within the meaning of Rule 144A under the
Securities Act of 1933, and is aware that the sale to it is being made in reliance on Rule 144A and
acknowledges that it has received such information regarding the Company as the undersigned has
requested pursuant to Rule 144A or has determined not to request such information and that it is
aware that the transferor is relying upon the undersigned’s foregoing representations in order to
claim the exemption from registration provided by Rule 144A.

	 	 	 	 	 	 	 	 	 
	Dated:
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	 	 	NOTICE:
	 	To be executed by an

executive officer
	 
	 	 	 	 	 	 	 	 
	Signature Guarantee:	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	Signature

	(Signature must be guaranteed by a
participant in a recognized Signature
Guarantee Medallion Program or other
signature guarantor program reasonably
acceptable to the Trustee)	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

2036-2-13

 

[TO BE ATTACHED TO GLOBAL SECURITIES]

SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTE

The following increases or decreases in this Global Note have been made:

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Principal Amount of this Global	 	Signature of authorized
	Date of	 	Amount of decrease in Principal	 	Amount of increase in Principal	 	Note following such decrease or	 	signatory of Trustee or
	Exchange	 	Amount of this Global Note	 	Amount of this Global Note	 	increase	 	Securities Custodian
	 
	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 

2036-2-14

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