Document:

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                                                                    EXHIBIT 4.4
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                          JUNIOR SUBORDINATED INDENTURE

                                     Between

                             ALLEGIANT BANCORP, INC.

                                       and

                              BANKERS TRUST COMPANY
                                  (as Trustee)

                                   dated as of

                                 _____ __, 2001

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                                      ALLEGIANT CAPITAL TRUST II

                   Certain Sections of this Junior Subordinated Indenture relating
                                  to Sections 310 through 318 of the
                                     Trust Indenture Act of 1939:

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Trust Indenture                                                                  Junior Subordinated
  Act Section                                                                     Indenture Section
  -----------                                                                     -----------------

<S>                                                                                 <C>
Section 310 (a)(1)...............................................................................6.9
            (a)(2)...............................................................................6.9
            (a)(3)....................................................................Not Applicable
            (a)(4)....................................................................Not Applicable
            (a)(5)...............................................................................6.9
            (b)............................................................................6.8, 6.10
Section 311 (a).................................................................................6.13
            (b).................................................................................6.13
            (b)(2)............................................................................7.3(a)
Section 312 (a)..........................................................................7.1, 7.2(a)
            (b)...............................................................................7.2(b)
            (c)...............................................................................7.2(c)
Section 313 (a)...............................................................................7.3(a)
            (a)(4)............................................................................7.3(a)
            (b)...............................................................................7.3(b)
            (c)...............................................................................7.3(a)
            (d)...............................................................................7.3(c)
Section 314 (a)..................................................................................7.4
            (b)..................................................................................7.4
            (c)(1)...............................................................................1.2
            (c)(2)...............................................................................1.2
            (c)(3)....................................................................Not Applicable
            (e)..................................................................................1.2
Section 315 (a)...............................................................................6.1(a)
            (b).............................................................................6.2, 7.3
            (c)...............................................................................6.1(b)
            (d)...............................................................................6.1(c)
            (e).................................................................................5.14
Section 316 (a).................................................................................5.12
            (a)(1)(A)...........................................................................5.12
            (a)(1)(B)...........................................................................5.13
            (a)(2)....................................................................Not Applicable
            (b)..................................................................................5.8
            (c)...............................................................................1.4(f)
Section 317 (a)(1)...............................................................................5.3
            (a)(2)...............................................................................5.4
            (b).................................................................................10.3
Section 318 (a)..................................................................................1.7

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

<S>                                                                                                        <C>
ARTICLE I           DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION.......................................1
      Section 1.1.  Definitions...................................................................................1
      Section 1.2.  Compliance Certificate and Opinions..........................................................10
      Section 1.3.  Forms of Documents Delivered to Trustee......................................................11
      Section 1.4.  Acts of Holders..............................................................................11
      Section 1.5.  Notices, Etc. to Trustee and Company.........................................................13
      Section 1.6.  Notice to Holders; Waiver....................................................................13
      Section 1.7.  Conflict with Trust Indenture Act............................................................13
      Section 1.8.  Effect of Headings and Table of Contents.....................................................14
      Section 1.9.  Successors and Assigns.......................................................................14
      Section 1.10. Separability Clause..........................................................................14
      Section 1.11. Benefits of Indenture........................................................................14
      Section 1.12. Governing Law................................................................................14
      Section 1.13. Non-Business Days............................................................................14

ARTICLE II          SECURITY FORMS...............................................................................15
      Section 2.1.  Forms Generally..............................................................................15
      Section 2.2.  Form of Face of Security.....................................................................15
      Section 2.3.  Form of Reverse of Security..................................................................18
      Section 2.4.  Additional Provisions Required in Global Security............................................21
      Section 2.5.  Form of Trustee's Certificate of Authentication..............................................21

ARTICLE III         THE SECURITIES...............................................................................21
      Section 3.1.  Title and Terms..............................................................................21
      Section 3.2.  Denominations................................................................................22
      Section 3.3.  Execution, Authentication, Delivery and Dating...............................................22
      Section 3.4.  Temporary Securities.........................................................................23
      Section 3.5.  Global Securities............................................................................24
      Section 3.6.  Registration, Transfer and Exchange Generally; Certain Transfers and Exchanges;
                       Securities Act Legends....................................................................25
      Section 3.7.  Mutilated, Lost and Stolen Securities........................................................26
      Section 3.8.  Payment of Interest and Additional Interest; Interest Rights Preserved.......................27
      Section 3.9.  Persons Deemed Owners........................................................................28
      Section 3.10. Cancellation.................................................................................28
      Section 3.11. Computation of Interest......................................................................28
      Section 3.12. Deferrals of Interest Payment Dates..........................................................28
      Section 3.13. Right of Set-Off.............................................................................29
      Section 3.14. Agreed Tax Treatment.........................................................................30
      Section 3.15. CUSIP Numbers................................................................................30
      Section 3.16. Shortening of Stated Maturity................................................................30
      Section 3.17. Shortening of Stated Maturity................................................................30

ARTICLE IV          SATISFACTION AND DISCHARGE...................................................................30
      Section 4.1.  Satisfaction and Discharge of Indenture......................................................30
      Section 4.2.  Application of Trust Money...................................................................31

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ARTICLE V           REMEDIES.....................................................................................32
      Section 5.1.  Events of Default............................................................................32
      Section 5.2.  Acceleration of Maturity; Rescission and Annulment...........................................32
      Section 5.3.  Collection of Indebtedness and Suits for Enforcement by Trustee..............................33
      Section 5.4.  Trustee May File Proofs of Claim.............................................................34
      Section 5.5.  Trustee May Enforce Claim Without Possession of Securities...................................35
      Section 5.6.  Application of Money Collected...............................................................35
      Section 5.7.  Limitation on Suits..........................................................................35
      Section 5.8.  Unconditional Right of Holders to Receive Principal, Premium and Interest;
                       Direct Action by Holders of Preferred Securities..........................................36
      Section 5.9.  Restoration of Rights and Remedies...........................................................36
      Section 5.10. Rights and Remedies Cumulative...............................................................36
      Section 5.11. Delay or Omission Not Waiver.................................................................36
      Section 5.12. Control by Holders...........................................................................37
      Section 5.13. Waiver of Past Defaults......................................................................37
      Section 5.14. Undertaking for Costs........................................................................37
      Section 5.15. Waiver of Usury, Stay or Extension Laws......................................................38

ARTICLE VI          THE TRUSTEE..................................................................................38
      Section 6.1.  Certain Duties and Responsibilities..........................................................38
      Section 6.2.  Notice of Defaults...........................................................................39
      Section 6.3.  Certain Rights of Trustee....................................................................39
      Section 6.4.  Not Responsible for Recitals or Issuance of Securities.......................................40
      Section 6.5.  May Hold Securities..........................................................................40
      Section 6.6.  Money Held in Trust..........................................................................41
      Section 6.7.  Compensation and Reimbursement...............................................................41
      Section 6.8.  Disqualification; Conflicting Interests......................................................42
      Section 6.9.  Corporate Trustee Required; Eligibility......................................................42
      Section 6.10. Resignation and Removal; Appointment of Successor............................................42
      Section 6.11. Acceptance of Appointment by Successor.......................................................43
      Section 6.12. Merger, Conversion, Consolidation or Succession to Business..................................44
      Section 6.13. Preferential Collection of Claims Against Company............................................44
      Section 6.14. Appointment of Authenticating Agent..........................................................44

ARTICLE VII         HOLDERS LISTS AND REPORTS BY TRUSTEE, PAYING AGENT AND COMPANY...............................46
      Section 7.1.  Company to Furnish Trustee Names and Addresses of Holders....................................46
      Section 7.2.  Preservation of Information, Communications to Holders.......................................46
      Section 7.3.  Reports by Trustee and Paying Agent..........................................................46
      Section 7.4.  Reports by Company...........................................................................47

ARTICLE VIII        CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE.........................................47
      Section 8.1.  Company May Consolidate, Etc., Only on Certain Terms.........................................47
      Section 8.2.  Successor Company Substituted................................................................48

ARTICLE IX          SUPPLEMENTAL INDENTURES......................................................................49
      Section 9.1.  Supplemental Indentures Without Consent of Holders...........................................49
      Section 9.2.  Supplemental Indentures with Consent of Holders..............................................49

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      Section 9.3.  Execution of Supplemental Indentures.........................................................50
      Section 9.4.  Effect of Supplemental Indentures............................................................50
      Section 9.5.  Conformity with Trust Indenture Act..........................................................51
      Section 9.6.  Reference in Securities to Supplemental Indentures...........................................51

ARTICLE X           COVENANTS....................................................................................51
      Section 10.1. Payment of Principal, Premium and Interest...................................................51
      Section 10.2. Maintenance of Office or Agency..............................................................51
      Section 10.3. Money for Security Payments to be Held in Trust..............................................52
      Section 10.4. Statement as to Compliance...................................................................53
      Section 10.5. Waiver of Certain Covenants..................................................................53
      Section 10.6. Additional Sums..............................................................................53
      Section 10.7. Additional Covenants.........................................................................54
      Section 10.8. Federal Tax Reports..........................................................................54

ARTICLE XI          REDEMPTION OF SECURITIES.....................................................................55
      Section 11.1. Applicability of this Article................................................................55
      Section 11.2. Election to Redeem; Notice to Trustee........................................................55
      Section 11.3. Selection of Securities to be Redeemed.......................................................55
      Section 11.4. Notice of Redemption.........................................................................56
      Section 11.5. Deposit of Redemption Price..................................................................56
      Section 11.6. Payment of Securities Called for Redemption..................................................57
      Section 11.7. Right of Redemption of Securities Initially Issued to the Issuer Trust.......................57

ARTICLE XII         SINKING FUNDS................................................................................57

ARTICLE XIII        SUBORDINATION OF SECURITIES..................................................................58
      Section 13.1. Securities Subordinate to Senior Indebtedness................................................58
      Section 13.2. No Payment When Senior Indebtedness in Default; Payment Over of Proceeds Upon
                       Dissolution, Etc..........................................................................58
      Section 13.3. Payment Permitted if No Default..............................................................59
      Section 13.4. Subrogation to Rights of Holders of Senior Indebtedness......................................59
      Section 13.5. Provisions Solely to Define Relative Rights..................................................60
      Section 13.6. Trustee to Effectuate Subordination..........................................................60
      Section 13.7. No Waiver of Subordination Provisions........................................................60
      Section 13.8. Notice to Trustee............................................................................61
      Section 13.9. Reliance on Judicial Order or Certificate of Liquidating Agent...............................61
      Section 13.10. Trustee Not Fiduciary for Holders of Senior Indebtedness....................................62
      Section 13.11. Rights of Trustee as Holder of Senior Indebtedness; Preservation of Trustee's Rights........62
      Section 13.12. Article Applicable to Paying Agents.........................................................62
      Section 13.13. Certain Conversions or Exchanges Deemed Payment.............................................62
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                          JUNIOR SUBORDINATED INDENTURE

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

         THIS JUNIOR SUBORDINATED INDENTURE, dated as of _____ __, 2001
between ALLEGIANT BANCORP, INC., a Missouri corporation (the "Company"),
having its principal office at 2122 Kratky Road, St. Louis, Missouri 63114
and BANKERS TRUST COMPANY, as Trustee, having its principal office at Four
Albany Street, 4th Floor, New York, New York 10006 (the "Trustee").

                           RECITALS OF THE COMPANY

         WHEREAS, the Company has duly authorized the execution and delivery
of this Indenture to provide for the issuance of its unsecured junior
subordinated deferrable interest debentures due _____ __, 2031 (the
"Securities") of substantially the tenor hereinafter provided, including
Securities issued to evidence loans made to the Company from the proceeds
from the issuance from time to time by Allegiant Capital Trust II, a Delaware
business trust (the "Issuer Trust"), of undivided preferred beneficial
interests in the assets of such Issuer Trust (the "Preferred Securities") and
common undivided interests in the assets of such Issuer Trust (the "Common
Securities" and, collectively with the Preferred Securities, the "Trust
Securities"), and to provide the terms and conditions upon which the
Securities are to be authenticated, issued and delivered; and

         WHEREAS, all things necessary to make this Indenture a valid
agreement of the Company, in accordance with its terms, have been done.

         NOW, THEREFORE, THIS INDENTURE WITNESSETH:

         For and in consideration of the premises and the purchase of the
Securities by the Holders (as such term is defined in Section 1.1 hereof)
thereof, it is mutually covenanted and agreed, for the equal and
proportionate benefit of all Holders of the Securities, and intending to be
legally bound hereby, as follows:

                                    ARTICLE I

                        DEFINITIONS AND OTHER PROVISIONS
                             OF GENERAL APPLICATION

Section 1.1.   Definitions.

         For all purposes of this Indenture, except as otherwise expressly
provided or unless the context otherwise requires:

         (a)   the terms defined in this Article I have the meanings assigned
to them in this Article, and include the plural as well as the singular;

         (b)   all other terms used herein that are defined in the Trust
Indenture Act, either directly or by reference therein, have the meanings
assigned to them therein;

         (c)   the words "include," "includes" and "including" shall be deemed
 to be followed by the phrase "without limitation";

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         (d)   all accounting terms not otherwise defined herein have the
meanings assigned to them in accordance with generally accepted accounting
principles as in effect at the time of computation;

         (e)   whenever the context may require, any gender shall be
deemed to include the other;

         (f)   unless the context otherwise requires, any reference to an
"Article" or a "Section" refers to an Article or a Section, as the case may
be, of this Indenture; and

         (g)   the words "hereby", "herein", "hereof" and "hereunder" and
other words of similar import refer to this Indenture as a whole and not to
any particular Article, Section or other subdivision.

         "25% Capital Limitation" means the limitation imposed by the Federal
Reserve that the proceeds of certain qualifying securities similar to the
Trust Securities will qualify as Tier 1 capital of the Company up to an
amount not to exceed, when taken together with all cumulative preferred stock
of the Company, if any, 25% of the Company's Tier 1 capital, or any
subsequent limitation adopted by the Federal Reserve.

         "Act" when used with respect to any Holder has the meaning specified
in Section 1.4.

         "Additional Interest" means the interest, if any, that shall accrue
on any interest on the Securities the payment of which has not been made on
the applicable Interest Payment Date and which shall accrue at the rate per
annum specified or determined as specified in such Security.

         "Additional Sums" has the meaning specified in Section 10.6.

         "Additional Taxes" means any additional taxes, duties and other
governmental charges to which the Issuer Trust has become subject from time
to time as a result of a Tax Event.

         "Administrator" means, in respect of the Issuer Trust, each Person
appointed in accordance with the Trust Agreement, solely in such Person's
capacity as Administrator of the Issuer Trust and not in such Person's
individual capacity, or any successor Administrator appointed as therein
provided.

         "Affiliate" of any specified Person means any other Person directly
or indirectly controlling or controlled by or under direct or indirect common
control with such specified Person. For the purposes of this definition,
"control" when used with respect to any specified Person means the power to
direct the management and policies of such Person, directly or indirectly,
whether through the ownership of voting securities, by contract or otherwise;
and the terms "controlling" and "controlled" have meanings correlative to the
foregoing.

         "Agent Member" means any member of, or participant in, the
Depositary.

         "Applicable Procedures" means, with respect to any transfer or
transaction involving a Global Security or beneficial interest therein, the
rules and procedures of the Depositary for such Global Security, in each case
to the extent applicable to such transaction and as in effect from time to
time.

         "Authenticating Agent" means any Person authorized by the Trustee
pursuant to Section 6.14 to act on behalf of the Trustee to authenticate
Securities.

         "Board of Directors" means the board of directors of the Company or
the executive committee of the board of directors of the Company (or any
other committee of the board of directors of the Company

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performing similar functions) or, for purposes of this Indenture, a committee
designated by the board of directors of the Company (or such committee),
comprised of two or more members of the board of directors of the Company or
officers of the Company, or both.

         "Board Resolution" means a copy of a resolution certified by the
Secretary or any Assistant Secretary of the Company to have been duly adopted
by the Board of Directors, or such committee of the Board of Directors or
officers of the Company to which authority to act on behalf of the Board of
Directors has been delegated, and to be in full force and effect on the date
of such certification, and delivered to the Trustee.

         "Business Day" means any day other than (a) a Saturday or Sunday,
(b) a day on which banking institutions in the State of Missouri or the City
of New York are authorized or required by law or executive order to remain
closed, or (c) a day on which the Corporate Trust Office of the Trustee, or,
with respect to the Securities initially issued to the Issuer Trust, the
"Corporate Trust Office" (as defined in the Trust Agreement) of the Property
Trustee or the Delaware Trustee under the Trust Agreement, is closed for
business.

         "Capital Treatment Event" means the receipt by the Company and the
Issuer Trust of an Opinion of Counsel, rendered by counsel experienced in
such matters, to the effect that, as a result of the occurrence of any
amendment to, or change (including any announced prospective change) in, the
laws (or any rules or regulations thereunder) of the United States or any
political subdivision thereof or therein, or as a result of any official or
administrative pronouncement or action or judicial decision interpreting or
applying such laws or regulations, which amendment or change is effective or
such pronouncement, action or decision is announced on or after the date of
the issuance of the Preferred Securities of the Issuer Trust, there is more
than an insubstantial risk that the Company will not be entitled to treat an
amount equal to the Liquidation Amount of such Preferred Securities as "Tier
1 Capital" (or the then equivalent thereof), except as otherwise restricted
under the 25% Capital Limitation, for purposes of the risk-based capital
adequacy guidelines of the Federal Reserve Board, as then in effect and
applicable to the Company.

         The Company or the Issuer Trust must request and receive an Opinion
of Counsel with regard to the matter deemed to be an event within a
reasonable period of time after the Company or the Issuer Trust, as
appropriate, becomes aware of the possible occurrence of any such event.

         "Commission" means the Securities and Exchange Commission, as from
time to time constituted, created under the Exchange Act, or, if at any time
after the execution of this instrument such Commission is not existing and
performing the duties now assigned to it under the Trust Indenture Act, then
the body performing such duties on such date.

         "Common Securities" has the meaning specified in the first recital
of this Indenture.

         "Common Stock" means the common stock, $0.01 par value per share, of
the Company.

         "Company" means the Person named as the "Company" in the preamble of
this instrument until a successor entity shall have become such pursuant to
the applicable provisions of this Indenture, and thereafter "Company" shall
mean such successor entity.

         "Company Request" and "Company Order" mean, respectively, the
written request or order signed in the name of the Company by its Chairman of
the Board of Directors, its Chief Executive

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Officer, President or any Vice President, and by its Chief Financial Officer,
its Treasurer, its Secretary or any Assistant Secretary, and delivered to the
Trustee.

         "Corporate Trust Office" means the principal office of the Trustee
at which at any particular time its corporate trust business shall be
administered, which office at the date hereof is located at Four Albany
Street, 4th Floor, New York, New York 10006.

         "Creditor" has the meaning specified in Section 6.7.

         "Defaulted Interest" has the meaning specified in Section 3.8.

         "Delaware Trustee" means, with respect to the Issuer Trust, the
Person identified as the "Delaware Trustee" in the Trust Agreement, solely in
its capacity as Delaware Trustee of the Issuer Trust under the Trust
Agreement and not in its individual capacity, or its successor in interest in
such capacity, or any successor Delaware trustee appointed as therein
provided.

         "Depositary" means, with respect to the Securities issuable or
issued in whole or in part in the form of one or more Global Securities, the
Person (or any successor thereto) designated as Depositary by the Company
pursuant to Section 3.1.

         "Discount Security" means any security that provides for an amount
less than the principal amount thereof to be due and payable upon a
declaration of acceleration of the Maturity thereof pursuant to Section 5.2.

         "Dollar" or "$" means the currency of the United States of America
that, as at the time of payment, is legal tender for the payment of public
and private debts.

         The term "entity" includes a bank, corporation, association,
company, limited liability company, joint-stock company or business trust.

         "Event of Default," has the meaning specified in Article V.

         "Exchange Act" means the Securities Exchange Act of 1934 and any
successor statute thereto, in each case as amended from time to time.

         "Expiration Date" has the meaning specified in Section 1.4.

         "Extension Period" has the meaning specified in Section 3.12.

         "Federal Reserve" means Board of Governors of the Federal Reserve
System.

         "Global Security" means a Security in the form prescribed in Section
2.4 evidencing all or part of the Securities, issued to the Depositary or its
nominee, and registered in the name of such Depositary or its nominee.

         "Guarantee" means, with respect to the Issuer Trust, the Guarantee
Agreement, dated as of _____ __, 2001, executed by the Company for the
benefit of the holders of the Preferred Securities issued by the Issuer Trust
as modified, amended or supplemented from time to time.

         "Holder" means a Person in whose name a Security is registered in
the Securities Register.

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         "Indenture" means this instrument as originally executed or as it
may from time to time be supplemented or amended by one or more indentures
supplemental hereto entered into pursuant to the applicable provisions
hereof.

         "Institutional Accredited Investor" means an institutional
accredited investor within the meaning of Rule 501(a)(1), (2), (3) or (7) of
Regulation D under the Securities Act.

         "Interest Payment Date" means the Stated Maturity of an installment
of interest on such Securities.

         "Investment Company Act" means the Investment Company Act of 1940
and any successor statute thereto, in each case as amended from time to time.

         "Investment Company Event" means the receipt by the Company and the
Issuer Trust of an Opinion of Counsel, rendered by counsel experienced in
such matters, to the effect that, as a result of the occurrence of a change
in law or regulation or a written change in interpretation or application of
law or regulation by any legislative body, court, governmental agency or
regulatory authority, the Issuer Trust is considered an "investment company"
that is required to be registered under the Investment Company Act, which
change becomes effective on or after the date of the issuance of the
Preferred Securities.

         The Company or the Issuer Trust must request and receive an Opinion
of Counsel with regard to the matter deemed to be an event within a
reasonable period of time after the Company or the Issuer Trust, as
appropriate, becomes aware of the possible occurrence of any such event.

         "Issuer Trust" has the meaning specified in the first recital of
this Indenture.

         "Liquidation Amount" has the meaning assigned in the Trust
Agreement.

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

         "Notice of Default" means a written notice of the kind specified in
Section 5.1(c).

         "Officers' Certificate" means, with respect to any Person, a
certificate signed by the Chairman of the Board, Chief Executive Officer,
President or a Vice President, and by the Chief Financial Officer, Treasurer,
an Associate Treasurer, an Assistant Treasurer, the Secretary or an Assistant
Secretary of such Person, and delivered to the Trustee. Any Officers'
Certificate delivered with respect to compliance with a condition or covenant
provided for in this Indenture shall include:

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

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

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

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

provided, however, that the Officers' Certificate delivered pursuant to the
provisions of Section 10.4 hereof shall comply with the provisions of Section
314 of the Trust Indenture Act.

         "Opinion of Counsel" means a written opinion of independent outside
counsel to the Company.

         "Original Issue Date" means the date of issuance specified as such
in each Security.

         "Outstanding" means, when used in reference to any Securities, as of
the date of determination, all Securities theretofore authenticated and
delivered under this Indenture, except:

               (a)     Securities theretofore canceled by the Trustee or
delivered to the Trustee for cancellation;

               (b)     Securities for whose payment money in the necessary
amount has been theretofore deposited with the Trustee or any Paying Agent in
trust for the Holders of such Securities; and

               (c)     Securities in substitution for or in lieu of other
Securities which have been authenticated and delivered or that have been paid
pursuant to Section 3.6, unless proof satisfactory to the Trustee is
presented that any such Securities are held by Holders in whose hands such
Securities are valid, binding and legal obligations of the Company; provided,
however, that in determining whether the Holders of the requisite principal
amount of Outstanding Securities have given any request, demand,
authorization, direction, notice, consent or waiver hereunder, Securities
owned by the Company or any other obligor upon the Securities or any
Affiliate of the Company or such other obligor (other than, for the avoidance
of doubt, the Issuer Trust to which Securities were initially issued) shall
be disregarded and deemed not to be Outstanding, except that, in determining
whether the Trustee shall be protected in relying upon any such request,
demand, authorization, direction, notice, consent or waiver, only Securities
that the Trustee knows to be so owned shall be so disregarded. Securities so
owned that have been pledged in good faith may be regarded as Outstanding if
the pledgee establishes to the satisfaction of the Trustee the pledgee's
right so to act with respect to such Securities and that the pledgee is not
the Company or any other obligor upon the Securities or any Affiliate of the
Company or such other obligor (other than, for the avoidance of doubt, the
Issuer Trust). Upon the written request of the Trustee, the Company shall
furnish to the Trustee promptly an Officers' Certificate listing and
identifying all Securities, if any, known by the Company to be owned or held
by or for the account of the Company, or any other obligor on the Securities
or any Affiliate of the Company or such obligor (other than, for the
avoidance of doubt, the Issuer Trust), and, subject to the provisions of
Section 6.1, the Trustee shall be entitled to accept such Officers'
Certificate as conclusive evidence of the facts therein set forth and of the
fact that all Securities not listed therein are Outstanding for the purpose
of any such determination.

         "Paying Agent" means the Trustee or any Person authorized by the
Company to pay the principal of (or premium, if any) or interest on, or other
amounts in respect of any Securities on behalf of the Company.

         "Person" means any individual, partnership, trust, unincorporated
organization or Entity or government or any agency or political subdivision
thereof.
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         "Place of Payment" means, with respect to the Securities, the place
or places where the principal of (and premium, if any) and interest on the
Securities are payable pursuant to Section 3.1.

         "Predecessor Security" of any particular Security means every
previous Security evidencing all or a portion of the same debt as that
evidenced by such particular Security. For the purposes of this definition,
any security authenticated and delivered under Section 3.7 in lieu of a
mutilated, destroyed, lost or stolen Security shall be deemed to evidence the
same debt as the mutilated, destroyed, lost or stolen Security.

         "Preferred Securities" has the meaning specified in the first
recital of this Indenture.

         "Proceeding" has the meaning specified in Section 13.2.

         "Property Trustee" means, with respect to the Issuer Trust, the
Person identified as the "Property Trustee" in the Trust Agreement, solely in
its capacity as Property Trustee of the Issuer Trust under the Trust
Agreement and not in its individual capacity, or its successor in interest in
such capacity, or any successor property trustee appointed as therein
provided.

         "Redemption Date", when used with respect to any Security to be
redeemed, means the date fixed for such redemption by or pursuant to this
Indenture or the terms of such Security.

         "Redemption Price", when used with respect to any Security to be
redeemed, means the price at which it is to be redeemed pursuant to this
Indenture.

         "Regular Record Date" for the interest payable on any Interest
Payment Date with respect to the Securities means, unless otherwise provided
pursuant to Section 3.1 with respect to the Securities, the close of business
on March 15, June 15, September 15 or December 15 next preceding such
Interest Payment Date (whether or not a Business Day).

         "Responsible Officer", when used with respect to the Property
Trustee means any officer assigned to the Corporate Trust Office, including
any managing director, director, vice president, assistant vice president,
associate or any other officer of the Trustee customarily performing
functions similar to those performed by any of the above designated officers
and having direct responsibility for the administration of this Indenture,
and also, with respect to a particular matter, any other officer to whom such
matter is referred because of such officer's knowledge of and familiarity
with the particular subject.

         "Rights Plan" means any plan of the Company providing for the
issuance by the Company to all holders of its Common Stock, $0.01 par value
per share, of rights entitling the holders thereof to subscribe for or
purchase shares of any class or series of capital stock of the Company which
rights (a) are deemed to be transferred with such shares of such Common
Stock, (b) are not exercisable, and (c) are also issued in respect of future
issuances of such Common Stock, in each case until the occurrence of a
specified event or events.

         "Securities" or "Security" means any debt securities or debt
security, as the case may be, authenticated and delivered under this
Indenture.

         "Securities Act" means the Securities Act of 1933 and any successor
statute thereto, in each case as amended from time to time.

                                    - 7 -

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         "Securities Register" and "Securities Registrar" have the respective
meanings specified in Section 3.6.

         "Senior Indebtedness" means, the principal of, and premium and
interest on the following, whether outstanding on the date of execution of
this Indenture or thereafter incurred or created, whether recourse is to all
or a portion of the assets of the Company and whether or not contingent,

               (a)     every obligation of the Company for money borrowed
(including purchase money obligations with an original term of more than one
year);

               (b)     every obligation of the Company evidenced by bonds,
debentures, notes or corporate debt securities other similar instruments,
including obligations incurred or assumed by the Company in connection with
the acquisition by the Company or any subsidiary of any property, assets or
businesses;

               (c)     every reimbursement obligation of the Company with
respect to letters of credit, bankers' acceptances or similar facilities
issued for the account of the Company;

               (d)     every obligation of the Company issued or assumed
as the deferred purchase price of property or services (but excluding trade
accounts payable or accrued liabilities arising in the ordinary course of
business);

               (e)     indebtedness or obligations of the Company as lessee
under any lease of real or personal property required to be capitalized under
generally accepted accounting principles at the time;

               (f)     every obligation of the Company for claims (as defined
in Section 101(4) of the United States Bankruptcy Code of 1978, as amended)
in respect of derivative products such as interest and foreign exchange rate
contracts, commodity contracts and similar arrangements;

               (g)     any indebtedness in respect of debt securities issued to
any trust, or a trustee of such trust, partnership or other entity affiliated
with the Company that is a financing entity of the Company in connection with
the issuance by such financing entity of securities that are similar to the
Preferred Securities;

               (h)     indebtedness or obligations of the Company constituting
a guarantee of indebtedness or of obligations of others of the type referred
to in the preceding clauses (a) through (g);

               (i)     renewals, extensions or refundings of any of the
indebtedness or obligations referred to in the preceding clauses (a) through
(g); and

               (j)     every obligation of the type referred to in clauses (a)
through (i) of another person and all dividends of another person the payment
of which, in either case, the Company has guaranteed or is responsible or
liable, directly or indirectly, as obligor or otherwise.

         Senior Indebtedness shall not include (a) any obligations which, by
their terms, are expressly stated to rank pari passu in right of payment
with, or to not be superior in right of payment to, the Junior Subordinated
Debentures, including the 9.875% junior subordinated debentures due 2029 issued
by the Company on August 2, 1999, which are currently held by Allegiant Capital
Trust I, (b) any Senior Indebtedness of the Company which when incurred and
without respect to any election under Section 1111(b) of the United States
Bankruptcy Code of 1978, as amended, was without recourse to the Company, (c)
any

                                    - 8 -

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indebtedness of the Company to any of its subsidiaries, (d) indebtedness,
other than indebtedness with respect to wages or bank deposits, payable to
any executive officer, director or employee of the Company, (e) any
indebtedness in respect of debt securities issued to any trust, or a trustee
of such trust, partnership or other entity affiliated with the Company that
is a financing entity of the Company in connection with the issuance of such
financing entity of securities that are similar to the Preferred Securities,
including the obligations associated with the Preferred Securities and the
9.875% cumulative trust preferred securities issued by Allegiant Capital
Trust I on August 2, 1999, or (f) any indebtedness which by its terms is
subordinated to trade accounts payable or accrued liabilities arising in the
ordinary course of business to the extent that payments made to the holders
of such indebtedness by the Holders of the Securities because of the
Securities' subordination provisions exceed amounts to which the obligees of
such indebtedness would be entitled under the subordination provisions to
which such debt is entitled.

         "Special Record Date" for the payment of any Defaulted Interest
means a date fixed by the Trustee pursuant to Section 3.8.

         "Stated Maturity," when used with respect to any Security or any
installment of principal thereof or interest thereon, means the date
specified pursuant to the terms of such Security as the fixed date on which
the principal of such Security or such installment of principal or interest
is due and payable, as such date may, in the case of such principal, be
shortened or extended as provided pursuant to the terms of such Security and
this Indenture.

         "Subsidiary" means an entity more than 50% of the outstanding voting
stock of which is owned, directly or indirectly, by the Company or by one or
more other Subsidiaries, or by the Company and one or more other
Subsidiaries. For purposes of this definition, "voting stock" means stock
that ordinarily has voting power for the election of directors, whether at
all times or only so long as no senior class of stock has such voting power
by reason of any contingency.

         "Successor Security" of any particular Security means every Security
issued after, and evidencing all or a portion of the same debt as that
evidenced by, such particular Security; and, for the purposes of this
definition, any Security authenticated and delivered under Section 3.7 in
exchange for or in lieu of a mutilated, destroyed, lost or stolen Security
shall be deemed to evidence the same debt as the mutilated, destroyed, lost
or stolen Security.

         "Tax Event" means the receipt by the Company and the Issuer Trust of
an Opinion of Counsel, rendered by counsel experienced in such matters, to
the effect that, as a result of any amendment to, or change (including any
announced prospective change) in, the laws (or any regulations thereunder) of
the United States or any political subdivision or taxing authority thereof or
therein, or as a result of any official or administrative pronouncement or
action or judicial decision interpreting or applying such laws or
regulations, which amendment or change is effective or which pronouncement or
decision is announced on or after the date of issuance of the Preferred
Securities of the Issuer Trust, there is more than an insubstantial risk that
(a) the Issuer Trust is, or will be within 90 days of the delivery of such
Opinion of Counsel, subject to United States federal income tax with respect
to income received or accrued on the Securities issued by the Company to the
Issuer Trust, (b) interest payable by the Company on the Securities is not,
or within 90 days of the delivery of such Opinion of Counsel will not be,
deductible by the Company, in whole or in part, for United States federal
income tax purposes, or (c) the Issuer Trust is, or will be within 90 days of
the delivery of such Opinion of Counsel, subject to more than a de minimis
amount of other taxes, duties or other governmental charges. The Company or
the Issuer Trust must request and receive an Opinion of Counsel with regard
to such matters within a reasonable period of time after the Company or the
Issuer Trust, as appropriate, becomes aware of the possible occurrence of any
such event.

                                    - 9 -

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<PAGE>

         "Trust Agreement" means the Amended and Restated Trust Agreement,
dated as of _____ __, 2001, as amended, modified or supplemented from time to
time, among the trustees of the Issuer Trust named therein, the Company, as
depositor, and the holders from time to time of undivided beneficial
ownership interests in the assets of the Issuer Trust.

         "Trustee" means the Person named as the "Trustee" in the preamble of
this Indenture, solely in its capacity as such and not in its individual
capacity, until a successor Trustee shall have become such pursuant to the
applicable provisions of this Indenture, and thereafter "Trustee" shall mean
or include each Person who is then a Trustee hereunder and, if at any time
there is more than one such Person, "Trustee" as used with respect to any
Securities shall mean the Trustee with respect to such Securities.

         "Trust Indenture Act" means the Trust Indenture Act of 1939, as
amended by the Trust Indenture Reform Act of 1990, or any successor statute,
in each case as amended from time to time, except as provided in Section 9.5.

         "Trust Securities" has the meaning specified in the first recital of
this Indenture.

         "Vice President," when used with respect to the Company, means any
duly appointed vice president, whether or not designated by a number or a
word or words added before or after the title "vice president."

Section 1.2.   Compliance Certificate and Opinions.

         Upon any application or request by the Company to the Trustee to
take any action under any provision of this Indenture, the Company shall
furnish to the Trustee an Officers' Certificate stating that all conditions
precedent (including covenants compliance with which constitutes a condition
precedent), if any, provided for in this Indenture relating to the proposed
action have been complied with and an Opinion of Counsel stating that, in the
opinion of such counsel, all such conditions precedent (including covenants
compliance with which constitutes a condition precedent), if any, have been
complied with, except that in the case of any such application or request as
to which the furnishing of such documents is specifically required by any
provision of this Indenture relating to such particular application or
request, no additional certificate or opinion need be furnished.

         Every certificate or opinion with respect to compliance with a
condition or covenant provided for in this Indenture (other than the
certificates provided pursuant to Section 10.4) shall include:

         (a)   a statement by each individual signing such certificate or
opinion that such individual has read such covenant or condition and the
definitions herein relating thereto;

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

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

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

                                   - 10 -

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<PAGE>

Section 1.3.   Forms of Documents Delivered to Trustee.

         (a)   In any case where several matters are required to be certified
by, or covered by an opinion of, any specified Person, it is not necessary
that all such matters be certified by, or covered by the opinion of, only one
such Person, or that they be so certified or covered by only one document,
but one such Person may certify or give an opinion with respect to some
matters and one or more other such Persons as to other matters, and any such
Person may certify or give an opinion as to such matters in one or several
documents.

         (b)   Any certificate or opinion of an officer of the Company may be
based, insofar as it relates to legal matters, upon a certificate or opinion
of, or representations by, counsel, unless such officer knows, or in the
exercise of reasonable care should know, that the certificate or opinion or
representations with respect to matters upon which his or her certificate or
opinion is based are erroneous. Any such certificate or Opinion of Counsel
may be based, insofar as it relates to factual matters, upon a certificate or
opinion of, or representations by, an officer or officers of the Company
stating that the information with respect to such factual matters is in the
possession of the Company, unless such counsel knows, or in the exercise of
reasonable care should know, that the certificate or opinion or
representations with respect to such matters are erroneous.

         (c)   Where any Person is required to make, give or execute two or
more applications, requests, consents, certificates, statements, opinions or
other instruments under this Indenture, they may, but need not, be
consolidated and form one instrument.

Section 1.4.   Acts of Holders.

         (a)   Any request, demand, authorization, direction, notice, consent,
waiver or other action provided by this Indenture to be given, made or taken
by Holders may be embodied in and evidenced by one or more instruments of
substantially similar tenor signed by such Holders in person or by an agent
duly appointed in writing; and, except as herein otherwise expressly
provided, such action shall become effective when such instrument or
instruments is or are delivered to the Trustee, and, where it is hereby
expressly required, to the Company. Such instrument or instruments (and the
action embodied therein and evidenced thereby) are herein sometimes referred
to as the "Act" of the Holders signing such instrument or instruments. Proof
of execution of any such instrument or of a writing appointing any such agent
shall be sufficient for any purpose of this Indenture and (subject to Section
6.1) conclusive in favor of the Trustee and the Company, if made in the
manner provided in this Section 1.4.

         (b)   The fact and date of the execution by any Person of any such
instrument or writing may be proved by the affidavit of a witness of such
execution or by the certificate of any notary public or other officer
authorized by law to take acknowledgments of deeds, certifying that the
individual signing such instrument or writing acknowledged to him or her the
execution thereof. Where such execution is by a Person acting in other than
his or her individual capacity, such certificate or affidavit shall also
constitute sufficient proof of his or her authority.

         (c)   The fact and date of the execution by any Person of any such
instrument or writing, or the authority of the Person executing the same, may
also be provided in any other manner that the Trustee deems sufficient and in
accordance with such reasonable rules as the Trustee may determine.

         (d)   The ownership of Securities shall be proved by the Securities
Register.

                                   - 11 -

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         (e)   Any request, demand, authorization, direction, notice, consent,
waiver or other action by the Holder of any Security shall bind every future
Holder of the same Security and the Holder of every Security issued upon the
transfer thereof or in exchange therefor or in lieu thereof in respect of
anything done or suffered to be done by the Trustee or the Company in
reliance thereon, whether or not notation of such action is made upon such
Security.

         (f)   The Company may set any day as a record date for the purpose of
determining the Holders of Outstanding Securities entitled to give, make or
take any request, demand, authorization, direction, notice, consent, waiver
or other action provided or permitted by this Indenture to be given, made or
taken by Holders of Securities, provided that the Company may not set a
record date for, and the provisions of this Section 1.4(f) shall not apply
with respect to, the giving or making of any notice, declaration, request or
direction referred to in Section 1.4(g). If any record date is set pursuant
to this Section 1.4(f), the Holders of Outstanding Securities on such record
date, and no other Holders, shall be entitled to take the relevant action,
whether or not such Holders remain Holders after such record date; provided,
however that no such action shall be effective hereunder unless taken on or
prior to the applicable Expiration Date (as defined below) by Holders of the
requisite principal amount of Outstanding Securities on such record date.
Nothing in this Section 1.4(f) shall be construed to prevent the Company from
setting a new record date for any action for which a record date has
previously been set pursuant to this Section 1.4(f) (whereupon the record
date previously set shall automatically and with no action by any Person be
canceled and of no effect), and nothing in this Section 1.4(f) shall be
construed to render ineffective any action taken by Holders of the requisite
principal amount of Outstanding Securities on the date such action is taken.
Promptly after any record date is set pursuant to this Section 1.4(f), the
Company, at its own expense, shall cause notice of such record date, the
proposed action by Holders and the applicable Expiration Date to be given to
the Trustee in writing and to each Holder of Securities in the manner set
forth in Section 1.6.

         (g)   The Trustee may set any day as a record date for the purpose of
determining the Holders of Outstanding Securities entitled to join in the
giving or making of (i) any Notice of Default, (ii) any declaration of
acceleration referred to in Section 5.2, (iii) any request to institute
proceedings referred to in Section 5.7(b), or (iv) any direction referred to
in Section 5.12, in each case with respect to Securities. If any record date
is set pursuant to this Section 1.4(g), the Holders of Outstanding Securities
on such record date, and no other Holders, shall be entitled to join in such
notice, declaration, request or direction, whether or not such Holders remain
Holders after such record date; provided, however that no such action shall
be effective hereunder unless taken on or prior to the applicable Expiration
Date by Holders of the requisite principal amount of Outstanding Securities
on such record date. Nothing in this Section 1.4(g) shall be construed to
prevent the Trustee from setting a new record date for any action for which a
record date has previously been set pursuant to this Section 1.4(g)
(whereupon the record date previously set shall automatically and with no
action by any Person be canceled and of no effect) and nothing in this
paragraph shall be construed to render ineffective any action taken by
Holders of the requisite principal amount of Outstanding Securities on the
date such action is taken. Promptly after any record date is set pursuant to
this paragraph, the Trustee, at the Company's expense, shall cause notice of
such record date, the proposed action by Holders and the applicable
Expiration Date to be given to the Company in writing and to each Holder of
Securities in the manner set forth in Section 1.6.

         (h)   With respect to any record date set pursuant to this Section
1.4, the party hereto that sets such record date may designate any day as the
"Expiration Date" and from time to time may change the Expiration Date to any
earlier or later day, provided that no such change shall be effective unless
notice of the proposed new Expiration Date is given to the other party hereto
in writing, and to each Holder of Securities in the manner set forth in
Section 1.6 on or prior to the existing Expiration Date. If an Expiration
Date is not designated with respect to any record date set pursuant to this
Section, the party

                                   - 12 -

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<PAGE>

hereto that set such record date shall be deemed to have initially designated
the 180th day after such record date as the Expiration Date with respect
thereto, subject to its right to change the Expiration Date as provided in
this Section 1.4(h). Notwithstanding the foregoing, no Expiration Date shall
be later than the 180th day after the applicable record date.

         (i)   Without limiting the foregoing, a Holder entitled hereunder to
take any action hereunder with regard to any particular Security may do so
with regard to all or any part of the principal amount of such Security or by
one or more duly appointed agents each of which may do so pursuant to such
appointment with regard to all or any part of such principal amount.

Section 1.5.   Notices, Etc. to Trustee and Company.

         Any request, demand, authorization, direction, notice, consent,
waiver or Act of Holders or other document provided or permitted by this
Indenture to be made upon, given or furnished to, or filed with:

         (a)   the Trustee by any Holder, any holder of Preferred Securities or
the Company shall be sufficient for every purpose hereunder if made, given,
furnished or filed in writing to or with the Trustee at its Corporate Trust
Office, or

         (b)   the Company by the Trustee, any Holder or any holder of
Preferred Securities shall be sufficient for every purpose (except as
otherwise provided in Section 5.1) hereunder if in writing and mailed, first
class, postage prepaid, to the Company addressed to it at the address of its
principal office specified in the first paragraph of this instrument or at
any other address previously furnished in writing to the Trustee by the
Company.

Section 1.6.   Notice to Holders; Waiver.

         Where this Indenture provides for notice to Holders of any event,
such notice shall be sufficiently given (unless otherwise herein expressly
provided) if in writing and mailed, first class postage prepaid, to each
Holder affected by such event, at the address of such Holder as it appears in
the Securities Register, not later than the latest date, and not earlier than
the earliest date, prescribed for the giving of such notice. If, by reason of
the suspension of or irregularities in regular mail services or for any other
reason, it shall be impossible or impracticable to mail notice of any event
to Holders when said notice is required to be given pursuant to any provision
of this Indenture or of the Securities, then any manner of giving such notice
as shall be satisfactory to the Trustee shall be deemed to be a sufficient
giving of such notice. In any case where notice to Holders is given by mail,
neither the failure to mail such notice, nor any defect in any notice so
mailed, to any particular Holder shall affect the sufficiency of such notice
with respect to other Holders. Where this Indenture provides for notice in
any manner, such notice may be waived in writing by the Person entitled to
receive such notice, either before or after the event, and such waiver shall
be the equivalent of such notice. Waivers of notice by Holders shall be filed
with the Trustee, but such filing shall not be a condition precedent to the
validity of any action taken in reliance upon such waiver.

Section 1.7.   Conflict with Trust Indenture Act.

         If any provision hereof limits, qualifies or conflicts with a
provision of the Trust Indenture Act that is required thereunder to be a part
of and govern this Indenture, the provision of the Trust Indenture Act shall
control. If any provision of this Indenture modifies or excludes any
provision of the Trust Indenture Act that may be so modified or excluded, the
latter provision shall be deemed to apply to this Indenture as so modified or
to be excluded, as the case may be.

                                   - 13 -

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Section 1.8.   Effect of Headings and Table of Contents.

         The Article and Section headings herein and the Table of Contents
are for convenience only and shall not affect the construction hereof.

Section 1.9.   Successors and Assigns.

         All covenants and agreements in this Indenture by the Company shall
bind its successors and assigns, whether so expressed or not.

Section 1.10.  Separability Clause.

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

Section 1.11.  Benefits of Indenture.

         Nothing in this Indenture or in the Securities, express or implied,
shall give to any Person, other than the parties hereto and their successors
and assigns, the holders of Senior Indebtedness, the Holders of the
Securities and, to the extent expressly provided in Sections 5.2, 5.8, 5.9,
5.11, 5.13, 9.1 and 9.2, the holders of Preferred Securities, any benefit or
any legal or equitable right, remedy or claim under this Indenture.

Section 1.12.  Governing Law.

         THIS INDENTURE AND THE SECURITIES SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK (WITHOUT GIVING EFFECT
TO CONFLICT OF LAW PRINCIPLES).

Section 1.13.  Non-Business Days.

         If any Interest Payment Date, Redemption Date or Stated Maturity of
any Security shall not be a Business Day, then (notwithstanding any other
provision of this Indenture or the Securities) payment of interest or
principal (and premium, if any) or other amounts in respect of such Security
need not be made on such date, but may be made on the next succeeding
Business Day (and no interest shall accrue in respect of the amounts whose
payment is so delayed for the period from and after such Interest Payment
Date, Redemption Date or Stated Maturity, as the case may be, until such next
succeeding Business Day) except that, if such Business Day is in the next
succeeding calendar year, such payment shall be made on the immediately
preceding Business Day (in each case with the same force and effect as if
made on the Interest Payment Date or Redemption Date or at the Stated
Maturity).

                                   - 14 -

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                                   ARTICLE II

                                 SECURITY FORMS

Section 2.1.   Forms Generally.

         (a)   The Securities and the Trustee's certificate of authentication
shall be in substantially the forms set forth in this Article II, or in such
other form or forms as shall be established by or pursuant to a Board
Resolution or in one or more indentures supplemental hereto, in each case
with such appropriate insertions, omissions, substitutions and other
variations as are required or permitted by this Indenture and may have such
letters, numbers or other marks of identification and such legends or
endorsements placed thereon as may be required to comply with applicable tax
laws or the rules of any securities exchange or as may, consistently
herewith, be determined by the officers executing such securities, as
evidenced by their execution of the Securities. If the form of Securities is
established by action taken pursuant to a Board Resolution, a copy of an
appropriate record of such action shall be certified by the Secretary or an
Assistant Secretary of the Company and delivered to the Trustee at or prior
to the delivery of the Company Order contemplated by Section 3.3 with respect
to the authentication and delivery of such Securities.

         (b)   The definitive Securities shall be printed, lithographed or
engraved or produced by any combination of these methods, if required by any
securities exchange on which the Securities may be listed, on a steel
engraved border or steel engraved borders or may be produced in any other
manner permitted by the rules of any securities exchange on which the
Securities may be listed, all as determined by the officers executing such
Securities, as evidenced by their execution of such Securities.

         (c)   Securities distributed to holders of Global Preferred Securities
(as defined in the Trust Agreement) upon the dissolution of the Issuer Trust
shall be distributed in the form of one or more Global Securities registered
in the name of a Depositary or its nominee, and deposited with the Securities
Registrar, as custodian for such Depositary, or with such Depositary, for
credit by the Depositary to the respective accounts of the beneficial owners
of the Securities represented thereby (or such other accounts as they may
direct). Securities distributed to holders of Preferred Securities other than
Global Preferred Securities upon the dissolution of the Issuer Trust shall
not be issued in the form of a Global Security or any other form intended to
facilitate book-entry trading in beneficial interests in such Securities.

Section 2.2.   Form of Face of Security.

                             ALLEGIANT BANCORP, INC.

            _____% Junior Subordinated Debentures due _____ __, 2031

No. 1                                                               $31,168,850

         Allegiant Bancorp, Inc., a Missouri corporation (hereinafter called
the "Company", which term includes any successor Person under the Indenture
hereinafter referred to), for value received, hereby promises to pay to
Allegiant Capital Trust II, or registered assigns, the principal sum of
Thirty One Million One Hundred Sixty-Eight Thousand Eight Hundred Fifty Dollars
($31,168,850) on _____ __, 2031, or such other principal amount represented
hereby as may be set forth in the records of the Securities Registrar
hereinafter referred to in accordance with the Indenture provided that the
Company may shorten the Stated Maturity of the principal of this Security
to a date not earlier than

                                     - 15 -

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<PAGE>

_____ __, 2006. The Company further promises to pay interest on said
principal from _____ __, 2001, or from the most recent Interest Payment Date
to which interest has been paid or duly provided for, quarterly (subject to
deferral as set forth herein) in arrears on March 31, June 30, September 30
and December 31 of each year, commencing _____ __, 2001 at the rate of _____%
per annum, together with Additional Sums, if any, as provided in Section 10.6
of the Indenture, until the principal hereof is paid or duly provided for or
made available for payment; provided that any overdue principal, premium or
Additional Sums and any overdue installment of interest shall bear Additional
Interest at the rate of _____% per annum (to the extent that the payment of
such interest shall be legally enforceable), compounded quarterly from the
dates such amounts are due until they are paid or made available for payment,
and such interest shall be payable on demand. The amount of interest payable
for any period less than a full interest period shall be computed on the
basis of a 360-day year of twelve 30-day months and the actual days elapsed
in a partial month in such period. The amount of interest payable for any
full interest period shall be computed by dividing the applicable rate per
annum by four. The initial payment of interest on any Security that is issued
between a Regular Record Date and the related Interest Payment Date shall be
computed on a pro rata basis, based on the number of days between such
Regular Record Date and such Interest Payment Date, and shall be payable on
the next succeeding Interest Payment Date following such Interest Payment
Date. The interest so payable, and punctually paid or duly provided for, on
any Interest Payment Date will, as provided in the Indenture, be paid to the
Person in whose name this Security (or one or more Predecessor Securities) is
registered at the close of business on the Regular Record Date for such
interest installment, which shall be the 15th day of the month in which such
Interest Payment Date falls. Any such interest not so punctually paid or duly
provided for shall forthwith cease to be payable to the Holder on such
Regular Record Date and may either be paid to the Person in whose name this
Security (or one or more Predecessor Securities) is registered at the close
of business on a Special Record Date for the payment of such Defaulted
Interest to be fixed by the Trustee, notice whereof shall be given to Holders
of Securities not less than 10 days prior to such Special Record Date, or be
paid at any time in any other lawful manner not inconsistent with the
requirements of any securities exchange on which the Securities may be
listed, and upon such notice as may be required by such exchange, all as more
fully provided in said Indenture.

         So long as no Event of Default has occurred and is continuing, the
Company shall have the right, at any time during the term of this Security,
from time to time to defer the payment of interest on this Security for up to
20 consecutive quarterly interest payment periods with respect to each
deferral period (each an "Extension Period"), during which Extension Periods
the Company shall have the right to make partial payments of interest on any
Interest Payment Date, and at the end of which the Company shall pay all
interest then accrued and unpaid including Additional Interest, as provided
below; provided however, that no Extension Period shall extend beyond the
Stated Maturity of the principal of this Security, as then in effect, and no
such Extension Period may end on a date other than an Interest Payment Date;
and provided further, however, that during any such Extension Period, the
Company shall not (a) declare or pay any dividends or distributions on, or
redeem, purchase, acquire or make a liquidation payment with respect to, any
of the Company's capital stock, (b) make any payment of principal of or
interest or premium, if any, on or repay, repurchase or redeem any debt
securities of the Company that rank pari passu with or junior in interest to
this Security, including the Company's obligations associated with the
Preferred Securities and the 9.875% junior subordinated debentures due 2029
issued by the Company on August 2, 1999, which are currently held by Allegiant
Capital Trust I, or (c) redeem, purchase or acquire less than all of the
Securities or any of the Preferred Securities (other than (i) repurchases,
redemptions or other acquisitions of shares of capital stock of the Company in
connection with any employment contract, benefit plan or other similar
arrangement with or for the benefit of any one or more employees, officers,
directors or consultants, or in connection with a dividend reinvestment or
shareholder stock purchase plan (ii) as a result of a reclassification, an
exchange or conversion of any class or series of the Company's capital stock
(or any capital stock of a Subsidiary of the Company) for any class or series
of

                                     - 16 -

<PAGE>
<PAGE>

the Company's capital stock, (iii) the purchase of fractional interests in
shares of the Company's capital stock pursuant to the conversion or exchange
provisions of such capital stock or the security being converted or
exchanged, (iv) any declaration of a dividend in connection with any Rights
Plan, or the issuance of rights, stock or other property under any Rights
Plan, or the redemption or repurchase of rights pursuant thereto, or (v) any
dividend in the form of stock, warrants, options or other rights where the
dividend stock or the stock issuable upon exercise of such warrants, options
or other rights is the same stock as that on which the dividend is being paid
or ranks pari passu with or junior to such stock). Prior to the termination
of any such Extension Period, the Company may further defer the payment of
interest, provided that no Extension Period shall exceed 20 consecutive
quarterly interest payment periods, extend beyond the Stated Maturity of the
principal of this Security or end on a date other than an Interest Payment
Date. Upon the termination of any such Extension Period and upon the payment
of all accrued and unpaid interest and any Additional Interest then due on
any Interest Payment Date, the Company may elect to begin a new Extension
Period, subject to the above conditions. No interest shall be due and payable
during an Extension Period, except at the end thereof, but each installment
of interest that would otherwise have been due and payable during such
Extension Period shall bear Additional Interest (to the extent that the
payment of such interest shall be legally enforceable) at the rate of _____%
per annum, compounded quarterly and calculated as set forth in the first
paragraph of this Security, from the date on which such amounts would
otherwise have been due and payable until paid or made available for payment.
The Company shall give the Holder of this Security and the Trustee notice of
its election to begin any Extension Period at least one Business Day prior to
the next succeeding Interest Payment Date on which interest on this Security
would be payable but for such deferral or so long as such securities are held
by Allegiant Capital Trust II, or at least one Business Day prior to the
earlier of (a) the next succeeding date on which Distributions on the
Preferred Securities of the Issuer Trust would be payable but for such
deferral, and (b) the date on which the Property Trustee of the Issuer Trust
is required to give notice to holders of such Preferred Securities of the
record date or the date such Distributions are payable, but in any event not
less than one Business Day prior to such record date.

         Payment of the principal of (and premium, if any) and interest on
this Security will be made at the office or agency of the Company maintained
for that purpose in the United States, in such coin or currency of the United
States of America as at the time of payment is legal tender for payment of
public and private debts; provided however, that at the option of the Company
payment of interest may be made (a) by check mailed to the address of the
Person entitled thereto as such address shall appear in the Securities
Register, or (b) if to a Holder of $1,000,000 or more in aggregate principal
amount of this Security, by wire transfer in immediately available funds upon
written request to the Trustee not later than 15 calendar days prior to the
date on which the interest is payable.

         The indebtedness evidenced by this Security is, to the extent
provided in the Indenture, subordinate and subject in right of payments to
the prior payment in full of all Senior Indebtedness, and this Security is
issued subject to the provisions of the Indenture with respect thereto. Each
Holder of this Security, by accepting the same, (a) agrees to and shall be
bound by such provisions, (b) authorizes and directs the Trustee on his or
her behalf to take such actions as may be necessary or appropriate to
effectuate the subordination so provided, and (c) appoints the Trustee his or
her attorney-in-fact for any and all such purposes. Each Holder hereof, by
his or her acceptance hereof, waives all notice of the acceptance of the
subordination provisions contained herein and in the Indenture by each holder
of Senior Indebtedness, whether now outstanding or hereafter incurred, and
waives reliance by each such holder upon said provisions.

         Reference is hereby made to the further provisions of this Security
set forth on the reverse hereof, which further provisions shall for all
purposes have the same effect as if set forth at this place.

                                   - 17 -

<PAGE>
<PAGE>

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

         IN WITNESS WHEREOF, the Company has caused this instrument to be
duly executed.

                                      ALLEGIANT BANCORP, INC.

                                      By:
                                         --------------------------------------
                                         Shaun R. Hayes
                                         President and Chief Executive Officer
Attest:

---------------------------------
Secretary or Assistant Secretary

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

Dated:                                BANKERS TRUST COMPANY, as Trustee
      ----------------------

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

Section 2.3.   Form of Reverse of Security.

         This Security is one of a duly authorized issue of securities of the
Company (herein called the "Securities"), issued and to be issued under the
Junior Subordinated Indenture, dated as of _____ __, 2001 (herein called the
"Indenture"), between the Company and Bankers Trust Company, as Trustee
(herein called the "Trustee", which term includes any successor trustee under
the Indenture), to which Indenture and all indentures supplemental thereto
reference is hereby made for a statement of the respective rights,
limitations of rights, duties and immunities thereunder of the Company, the
Trustee, the holders of Senior Indebtedness and the Holders of the
Securities, and of the terms upon which the Securities are, and are to be,
authenticated and delivered.

         All terms used in this Security that are defined in the Indenture
or, if not defined in the Indenture, in the Amended and Restated Trust
Agreement dated as of _____ __, 2001 (as modified, amended or supplemented
from time to time the "Trust Agreement"), relating to Allegiant Capital Trust
II (the "Issuer Trust") among the Company, as Depositor, the Trustees named
therein and the holders from time to time of the Trust Securities issued
pursuant thereto shall have the meanings assigned to them in the Indenture or
the Trust Agreement, as the case may be.

         The Company has the right to redeem this Security (a) on or after
_____ __, 2006, in whole at any time or in part from time to time, or (b) in
whole (but not in part), at any time within 180 days

                                   - 18 -

<PAGE>
<PAGE>

following the occurrence and during the continuation of a Tax Event,
Investment Company Event or Capital Treatment Event, in each case at the
Redemption Price described below, and subject to prior regulatory approval,
if required. The Redemption Price shall equal 100% of the principal amount
hereof being redeemed, together with accrued interest to but excluding the
date fixed for redemption.

         In the event of redemption of this Security in part only, a new
Security or Securities for the unredeemed portion hereof will be issued in
the name of the Holder hereof upon the cancellation hereof.

         [If applicable, insert - The Indenture contains provisions for
defeasance at any time [of the entire indebtedness of this Security] [or]
[certain restrictive covenants and Events of Default with respect to this
Security] [, in each case] upon compliance by the Company with certain
conditions set forth in the Indenture.]

         The Indenture permits, with certain exceptions as therein provided,
the Company and the Trustee at any time to enter into a supplemental
indenture or indentures for the purpose of modifying in any manner the rights
and obligations of the Company and of the Holders of the Securities, with the
consent of the Holders of a majority in principal amount of the Outstanding
Securities to be affected by such supplemental indenture. The Indenture also
contains provisions permitting Holders of specified percentages in principal
amount of the Securities at the time Outstanding, on behalf of the Holders of
all Securities, to waive compliance by the Company with certain provisions of
the Indenture and certain past defaults under the Indenture and their
consequences. Any such consent or waiver by the Holder of this Security shall
be conclusive and binding upon such Holder and upon all future Holders of
this Security and of any Security issued upon the registration of transfer
hereof or in exchange herefor or in lieu hereof, whether or not notation of
such consent or waiver is made upon this Security.

         [If the Security is not a Discount Security, insert - As provided in
and subject to the provisions of the Indenture, if an Event of Default with
respect to the Securities at the time Outstanding occurs and is continuing,
then and in every such case the Trustee or the Holders of not less than 25%
in aggregate principal amount of the Outstanding Securities may declare the
principal amount of all the Securities to be due and payable immediately, by
a notice in writing to the Company (and to the Trustee if given by Holders),
provided that, if upon an Event of Default, the Trustee or such Holders fail
to declare the principal of all the Outstanding Securities to be immediately
due and payable, the holders of at least 25% in aggregate Liquidation Amount
of the Preferred Securities then outstanding shall have the right to make
such declaration by a notice in writing to the Company and the Trustee; and
upon any such declaration the principal amount of and the accrued interest
(including any Additional Interest) on all the Securities shall become
immediately due and payable, provided that the payment of principal and
interest (including any Additional Interest) on such Securities shall remain
subordinated to the extent provided in Article XIII of the Indenture.]

         [If the Security is a Discount Security, insert - As provided in and
subject to the provisions of the Indenture, if an Event of Default with
respect to the Securities at the time Outstanding occurs and is continuing,
then and in every such case the Trustee or the Holders of not less than 25%
in aggregate principal amount of the Outstanding Securities may declare an
amount of principal of the Securities to be due and payable immediately, by a
notice in writing to the Company (and to the Trustee if given by Holders),
provided that, if upon an Event of Default, the Trustee or such Holders fail
to declare such principal amount of the Outstanding Securities to be
immediately due and payable, the Holders of at least 25% in aggregate
Liquidation Amount of the Preferred Securities then outstanding shall have
the right to make such declaration by a notice in writing to the Company and
the Trustee. The principal amount payable upon such acceleration shall be
equal to [insert formula for determining the amount]. Upon any such
declaration, such amount of the principal of and the accrued interest
(including any Additional

                                   - 19 -

<PAGE>
<PAGE>

Interest) on all the Securities shall become immediately due and payable,
provided that the payment of such principal and interest (including any
Additional Interest) on all the Securities shall remain subordinated to the
extent provided in Article XIII of the Indenture. Upon payment (a) of the
amount of principal so declared due and payable and (b) of interest on any
overdue principal, premium and interest (in each case to the extent that the
payment of such interest shall be legally enforceable), all of the Company's
obligations in respect of the payment of the principal of and premium and
interest, if any, on this Security shall terminate.]

         No reference herein to the Indenture and no provision of this
Security or of the Indenture shall alter or impair the obligation of the
Company, which is absolute and unconditional, to pay the principal of (and
premium, if any) and interest (including Additional Interest) on this
Security at the times, place and rate, and in the coin or currency, herein
prescribed.

         As provided in the Indenture, and subject to certain limitations
therein set forth, the transfer of this Security is registrable in the
Securities Register, upon surrender of this Security for registration of
transfer at the office or agency of the Company maintained under Section 10.2
of the Indenture for such purpose, duly endorsed by, or accompanied by a
written instrument of transfer in form satisfactory to the Company and the
Securities Registrar duly executed by, the Holder hereof or such Holder's
attorney duly authorized in writing, and thereupon one or more new
Securities, of like tenor, of authorized denominations and for the same
aggregate principal amount, will be issued to the designated transferee or
transferees.

         As provided in the Indenture, and subject to certain limitations
therein set forth, Securities are exchangeable for a like aggregate principal
amount of Securities and of like tenor of a different authorized
denomination, as requested by the Holder surrendering the same.

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

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

         The Company and, by its acceptance of this Security or a beneficial
interest therein, the Holder of, and any Person that acquires a beneficial
interest in, this Security agrees that for United States federal, state and
local tax purposes it is intended that this Security constitute indebtedness.

         THIS SECURITY SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH
THE LAWS OF THE STATE OF NEW YORK.

         THIS SECURITY IS A DIRECT AND UNSECURED OBLIGATION OF THE COMPANY,
DOES NOT EVIDENCE DEPOSITS AND IS NOT INSURED BY THE FEDERAL DEPOSIT
INSURANCE CORPORATION OR ANY OTHER INSURER OR GOVERNMENT AGENCY.

                                   - 20 -

<PAGE>
<PAGE>

Section 2.4.   Additional Provisions Required in Global Security.

         Unless otherwise specified as contemplated by Section 3.1, any
Global Security issued hereunder shall, in addition to the provisions
contained in Sections 2.2 and 2.3, bear a legend in substantially the
following form:

         THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE
INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A
DEPOSITARY OR A NOMINEE OF A DEPOSITARY. THIS SECURITY IS EXCHANGEABLE FOR
SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR
ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE AND
MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF
THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER
NOMINEE OF THE DEPOSITARY, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN
THE INDENTURE.

         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.

Section 2.5.   Form of Trustee's Certificate of Authentication.

         The Trustee's certificates of authentication shall be in
substantially the following form:

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

Dated:                                   BANKERS TRUST COMPANY, as Trustee
      ------------------------

                                         By:
                                            -----------------------------------
                                            Authorized Signatory

                                   ARTICLE III

                                 THE SECURITIES

Section 3.1.   Title and Terms.

         (a)   The aggregate principal amount of Securities that may be
authenticated and delivered under this Indenture is $35,844,175.

         (b)   Subject to Section 3.16, the Securities' Stated Maturity
shall be _____ __, 2031.

                                   - 21 -

<PAGE>
<PAGE>

         (c)   The Securities, established pursuant to a Board Resolution,
shall bear interest at a per annum rate equal to _____% from _____ __, 2001
or from the most recent Interest Payment Date to which interest has been paid
or duly provided for, as the case may be, payable quarterly (subject to
deferral as set forth in Section 3.12), in arrears, on March 31, June 30,
September 30 and December 31 of each year, commencing _____ __, 2001, until
the principal thereof is paid or made available for payment. Interest will
compound quarterly and will accrue at a per annum rate equal to _____% to the
extent permitted by applicable law, on any interest installment in arrears
for more than one quarterly period or during an extension of an interest
payment period as set forth below in Section 3.12.

         (d)   The principal of (and premium, if any) and interest on the
Securities shall be payable at the office or agency of the Paying Agent in
the United States maintained for such purpose and at any other office or
agency maintained by the Company for such purpose in such coin or currency of
the United States of America as at the time of payment is legal tender for
payment of public and private debts; provided, however, that at the option of
the Company payment of interest may be made (i) by check mailed to the
address of the Person entitled thereto as such address shall appear in the
Security Register or (ii) if to a Holder of $1,000,000 or more in aggregate
principal amount of this Security, by wire transfer in immediately available
funds upon written request to the Trustee not later than 15 calendar days
prior to the date on which the interest is payable, at such place and to such
account as may be designated by the Person entitled thereto as specified in
the Security Register.

         (e)   Securities may be issuable in whole or in part in the form of
one or more Global Securities and, in such case, the Depositary for such
Global Securities shall be The Depository Trust Company.

         (f)   The securities shall be subordinated in right of payment to
Senior Indebtedness as provided in Article XIII.

Section 3.2.   Denominations.

         The Securities shall be in registered form without coupons and shall
be issuable in denominations of $25 and any integral multiple thereof.

Section 3.3.   Execution, Authentication, Delivery and Dating.

         (a)   The Securities shall be executed on behalf of the Company by its
Chairman of the Board, its Chief Executive Officer, President or one of its
Vice Presidents, and attested by its Secretary or one of its Assistant
Secretaries. The signature of any of these officers on the Securities may be
manual or facsimile.

         (b)   Securities bearing the manual or facsimile signatures of
individuals who were at any time the proper officers of the Company shall
bind the Company, notwithstanding that such individuals or any of them have
ceased to hold such offices prior to the authentication and delivery of such
Securities or did not hold such offices at the date of such Securities. At
any time and from time to time after the execution and delivery of this
Indenture, the Company may deliver Securities executed by the Company to the
Trustee for authentication, together with a Company Order for the
authentication and delivery of such Securities, and the Trustee in accordance
with the Company Order shall authenticate and deliver such Securities. If the
form or terms of the Securities have been established by or pursuant to one
or more Board Resolutions as permitted by Sections 2.1 and 3.1, in
authenticating such Securities, and accepting the additional responsibilities
under this Indenture in relation to such Securities, the Trustee shall be

                                     - 22 -

<PAGE>
<PAGE>

entitled to receive, and (subject to Section 6.1) shall be fully protected in
relying upon, an Opinion of Counsel stating:

               (i)     if the form of such Securities has been established by
or pursuant to Board Resolution as permitted by Section 2.1, that such form
has been established in conformity with the provisions of this Indenture;

               (ii)    if the terms of such Securities have been established
by or pursuant to Board Resolution as permitted by Section 3.1, that such
terms have been established in conformity with the provisions of this
Indenture; and

               (iii)   that such Securities, when authenticated and delivered
by the Trustee and issued by the Company in the manner and subject to any
conditions specified in such Opinion of Counsel, will constitute valid and
legally binding obligations of the Company enforceable in accordance with
their terms, subject to bankruptcy, insolvency, fraudulent transfer,
reorganization, moratorium and similar laws of general applicability relating
to or affecting creditors' rights and to general equity principles.

         (c)   If such form or terms have been so established, the Trustee
shall not be required to authenticate such Securities if the issue of such
Securities pursuant to this Indenture will affect the Trustee's own rights,
duties or immunities under the Securities and this Indenture or otherwise in
a manner that is not reasonably acceptable to the Trustee.

         (d)   Notwithstanding the provisions of Section 3.1 and Section
3.3(b), if all Securities are not to be originally issued at one time, it
shall not be necessary to deliver the Officers' Certificate otherwise
required pursuant to Section 3.1 or the Company Order and Opinion of Counsel
otherwise required pursuant to Section 3.3(b) at or prior to the
authentication of each Security if such documents are delivered at or prior
to the authentication upon original issuance of the first Security to be
issued.

         (e)   Each Security shall be dated the date of its authentication.

         (f)   No Security shall be entitled to any benefit under this
Indenture or be valid or obligatory for any purpose, unless there appears on
such Security a certificate of authentication substantially in the form
provided for herein executed by the Trustee by the manual or facsimile
signature of one of its authorized officers, and such certificate upon any
Security shall be conclusive evidence, and the only evidence, that such
security has been duly authenticated and delivered hereunder. Notwithstanding
the foregoing, if any Security shall have been authenticated and delivered
hereunder but never issued and sold by the Company, and the Company shall
deliver such Security to the Trustee for cancellation as provided in Section
3.10, for all purposes of this Indenture such Security shall be deemed never
to have been authenticated and delivered hereunder and shall never be
entitled to the benefits of this Indenture.

Section 3.4.   Temporary Securities.

         (a)   Pending the preparation of definitive Securities, the Company
may execute, and upon receipt of a Company Order the Trustee shall
authenticate and deliver, temporary Securities that are printed,
lithographed, typewritten, mimeographed or otherwise produced, in any
denomination, substantially of the tenor of the definitive Securities in lieu
of which they are issued and with such appropriate insertions, omissions,
substitutions and other variations as the officers executing such Securities
may determine, as evidenced by their execution of such Securities.

                                   - 23 -

<PAGE>
<PAGE>

         (b)   If temporary Securities are issued, the Company will cause
definitive Securities to be prepared without unreasonable delay. After the
preparation of definitive Securities, the temporary Securities shall be
exchangeable for definitive Securities upon surrender of the temporary
Securities at the office or agency of the Company designated for that purpose
without charge to the Holder. Upon surrender for cancellation of any one or
more temporary Securities, the Company shall execute and the Trustee shall
authenticate and deliver in exchange therefor one or more definitive
securities, of any authorized denominations having the same Original Issue
Date and Stated Maturity and having the same terms as such temporary
Securities. Until so exchanged, the temporary Securities shall in all
respects be entitled to the same benefits under this Indenture as definitive
Securities.

Section 3.5.   Global Securities.

         (a)   Each Global Security issued under this Indenture shall be
registered in the name of the Depositary designated by the Company for such
Global Security or a nominee thereof and delivered to such Depositary or a
nominee thereof or custodian therefor, and each such Global Security shall
constitute a single Security for all purposes of this Indenture.

         (b)   Notwithstanding any other provision in this Indenture, no Global
Security may be exchanged in whole or in part for Securities registered, and
no transfer of a Global Security in whole or in part may be registered, in
the name of any Person other than the Depositary for such Global Security or
a nominee thereof unless (i) such Depositary advises the Trustee in writing
that such Depositary is no longer willing or able to properly discharge its
responsibilities as Depositary with respect to such Global Security, and the
Company is unable to locate a qualified successor within 90 days of receipt
of such notice from the Depositary, (ii) the Company executes and delivers to
the Trustee a Company Order stating that the Company elects to terminate the
book-entry system through the Depositary, or (iii) there shall have occurred
and be continuing an Event of Default.

         (c)   If any Global Security is to be exchanged for other Securities
or cancelled in whole, it shall be surrendered by or on behalf of the
Depositary or its nominee to the Securities Registrar for exchange or
cancellation as provided in this Article III. If any Global Security is to be
exchanged for other Securities or canceled in part, or if another Security is
to be exchanged in whole or in part for a beneficial interest in any Global
Security, then either (i) such Global Security shall be so surrendered for
exchange or cancellation as provided in this Article III or (ii) the
principal amount thereof shall be reduced, or increased by an amount equal to
the portion thereof to be so exchanged or canceled, or equal to the principal
amount of such other Security to be so exchanged for a beneficial interest
therein, as the case may be, by means of an appropriate adjustment made on
the records of the Securities Registrar, whereupon the Trustee, in accordance
with the Applicable Procedures, shall instruct the Depositary or its
authorized representative to make a corresponding adjustment to its records.
Upon any such surrender or adjustment of a Global Security by the Depositary,
accompanied by registration instructions, the Trustee shall, subject to
Section 3.6(b) and as otherwise provided in this Article III, authenticate
and deliver any Securities issuable in exchange for such Global Security (or
any portion thereof) in accordance with the instructions of the Depositary.
The Trustee shall not be liable for any delay in delivery of such
instructions and may conclusively rely on, and shall be fully protected in
relying on, such instructions.

         (d)   Every Security authenticated and delivered upon registration of
transfer of, or in exchange for or in lieu of, a Global Security or any
portion thereof, whether pursuant to this Article III, Section 9.6 or 11.6 or
otherwise, shall be authenticated and delivered in the form of, and shall be,
a Global Security, unless such Security is registered in the name of a Person
other than the Depositary for such Global Security or a nominee thereof.

                                   - 24 -

<PAGE>
<PAGE>

         (e)   The Depositary or its nominee, as the registered owner of a
Global Security, shall be the Holder of such Global Security for all purposes
under this Indenture and the Securities, and owners of beneficial interests
in a Global Security shall hold such interests pursuant to the Applicable
Procedures. Accordingly, any such owner's beneficial interest in a Global
Security shall be shown only on, and the transfer of such interest shall be
effected only through, records maintained by the Depositary or its nominee or
agent. Neither the Trustee nor the Securities Registrar shall have any
liability in respect of any transfers effected by the Depositary.

         (f)   The rights of owners of beneficial interests in a Global
Security shall be exercised only through the Depositary and shall be limited
to those established by law and agreements between such owners and the
Depositary and/or its Agent Members.

Section 3.6.   Registration, Transfer and Exchange Generally; Certain
Transfers and Exchanges; Securities Act Legends.

         (a)   The Company shall cause to be kept at the Corporate Trust Office
of the Trustee a register in which, subject to such reasonable regulations as
it may prescribe, the Company shall provide for the registration of
Securities and transfers of Securities. Such register is herein sometimes
referred to as the "Securities Register." The Trustee is hereby appointed
"Securities Registrar" for the purpose of registering Securities and
transfers of Securities as herein provided.

         Upon surrender for registration of transfer of any Security at the
offices or agencies of the Company designated for that purpose, the Company
shall execute, and the Trustee shall authenticate and deliver, in the name of
the designated transferee or transferees, one or more new Securities of any
authorized denominations of like tenor and aggregate principal amount.

         At the option of the Holder, Securities may be exchanged for other
Securities of any authorized denominations, of like tenor and aggregate
principal amount and bearing such legends as may be required by this
Indenture, upon surrender of the Securities to be exchanged at such office or
agency. Whenever any Securities are so surrendered for exchange, the Company
shall execute, and the Trustee shall authenticate and deliver, the Securities
that the Holder making the exchange is entitled to receive.

         All Securities issued upon any transfer or exchange of Securities
shall be the valid obligations of the Company, evidencing the same debt, and
entitled to the same benefits under this Indenture, as the Securities
surrendered upon such transfer or exchange.

         Every Security presented or surrendered for transfer or exchange
shall (if so required by the Company or the Trustee) be duly endorsed, or be
accompanied by a written instrument of transfer in form satisfactory to the
Company and the Securities Registrar, duly executed by the Holder thereof or
such Holder's attorney duly authorized in writing.

         No service charge shall be made to a Holder for any transfer or
exchange of Securities, but the Company may require payment of a sum
sufficient to cover any tax or other governmental charge that may be imposed
in connection with any transfer or exchange of Securities.

         Neither the Company nor the Trustee shall be required, pursuant to
the provisions of this Section, (i) to issue, exchange or register the
transfer of any Security during a period beginning at the opening of business
15 days before the day of selection for redemption of Securities pursuant to
Article XI and ending at the close of business on the day of mailing of the
notice of redemption, or (ii) to register the

                                   - 25 -

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transfer of or exchange any Security so selected for redemption in whole or
in part, except, in the case of any such Security to be redeemed in part, any
portion thereof not to be redeemed.

         (b)   Certain Transfers and Exchanges. Notwithstanding any other
provision of this Indenture, transfers and exchanges of Securities and
beneficial interests in a Global Security shall be made only in accordance
with this Section 3.6(b).

               (i)     Non-Global Security to Non-Global Security. A Security
that is not a Global Security may be transferred, in whole or in part, to a
Person who takes delivery in the form of another Security that is not a
Global Security as provided in Section 3.6(a).

               (ii)    Exchanges Between Global Security and Non-Global
Security. A beneficial interest in a Global Security may be exchanged for a
Security that is not a Global Security as provided in Section 3.5.

Section 3.7.   Mutilated, Lost and Stolen Securities.

         (a)   If any mutilated Security, including any temporary Security, is
surrendered to the Trustee together with such security or indemnity as may be
required by the Company or the Trustee to save each of them harmless, the
Company shall execute and the Trustee shall authenticate and deliver in
exchange therefor a new Security, of like tenor and aggregate principal
amount, bearing the same legends, and bearing a number not contemporaneously
outstanding.

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

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

         (d)   Upon the issuance of any new Security under this Section 3.7,
the Company may require the payment of a sum sufficient to cover any tax or
other governmental charge that may be imposed in relation thereto and any
other expenses (including the fees and expenses of the Trustee) connected
therewith.

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

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

                                   - 26 -

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Section 3.8.   Payment of Interest and Additional Interest; Interest
Rights Preserved.

         (a)   Interest and Additional Interest on any Security that is
payable, and is punctually paid or duly provided for, on any Interest Payment
Date, shall be paid to the Person in whose name that Security (or one or more
Predecessor Securities) is registered at the close of business on the Regular
Record Date for such interest in respect of Securities, except that, unless
otherwise provided in the Securities, interest payable on the Stated Maturity
of the principal of a Security shall be paid to the Person to whom principal
is paid. The initial payment of interest on any Security that is issued
between a Regular Record Date and the related Interest Payment Date shall be
payable as provided in such Security or in the Board Resolution pursuant to
Section 3.1 with respect to such Securities.

         (b)   Any interest on any Security that is due and payable, but is not
timely paid or duly provided for, on any Interest Payment Date for Securities
(herein called "Defaulted Interest"), shall forthwith cease to be payable to
the registered Holder on the relevant Regular Record Date by virtue of having
been such Holder, and such Defaulted Interest may be paid by the Company, at
its election in each case, as provided in clause (i) or (ii) below:

               (i)     The Company may elect to make payment of any Defaulted
Interest to the Persons in whose names the Securities in respect of which
interest is in default (or their respective Predecessor Securities) are
registered at the close of business on a Special Record Date for the payment
of such Defaulted Interest, which shall be fixed in the following manner. The
Company shall notify the Trustee in writing of the amount of Defaulted
Interest proposed to be paid on each Security and the date of the proposed
payment, and which shall be fixed 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 deposited to be held in trust for the
benefit of the Persons entitled to such Defaulted Interest as in this clause
provided. Thereupon, the Trustee shall fix a Special Record Date for the
payment of such Defaulted Interest, which shall be not more than 15 days and
not less than 10 days prior to the date of the proposed payment and not less
than 10 days after the receipt by the Trustee of the notice of the proposed
payment. The Trustee shall promptly notify the Company of such Special Record
Date and, in the name and at the expense of the Company, shall cause notice
of the proposed payment of such Defaulted Interest and the Special Record
Date therefor to be mailed, first class, postage prepaid, to each Holder of a
Security at the address of such Holder as it appears in the Securities
Register not less than 10 days prior to such Special Record Date. The Trustee
may, in its discretion, in the name and at the expense of the Company, cause
a similar notice to be published at least once in a newspaper, customarily
published in the English language on each Business Day and of general
circulation in the Borough of Manhattan, The City of New York, but such
publication shall not be a condition precedent to the establishment of such
Special Record Date. Notice of the proposed payment of such Defaulted
Interest and the Special Record Date therefor having been mailed as
aforesaid, such Defaulted Interest shall be paid to the Persons in whose
names the Securities (or their respective Predecessor Securities) are
registered on such Special Record Date and shall no longer be payable
pursuant to the following clause (ii).

               (ii)    The Company may make payment of any Defaulted Interest
in any other lawful manner not inconsistent with the requirements of any
securities exchange on which the Securities in respect of which interest is
in default may be listed and, upon such notice as may be required by such
exchange (or by the Trustee if the Securities are not listed), if, after
notice given by the Company to the Trustee of the proposed payment pursuant
to this clause (ii), such payment shall be deemed practicable by the Trustee.

                                   - 27 -

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<PAGE>

         (c)   Subject to the foregoing provisions of this Section, each
Security delivered under this Indenture upon transfer of or in exchange for
or in lieu of any other Security shall carry the rights to interest accrued
and unpaid, and to accrue interest, that were carried by such other Security.

Section 3.9.   Persons Deemed Owners.

         (a)   The Company, the Trustee and any agent of the Company or the
Trustee shall treat the Person in whose name any Security is registered as
the owner of such Security for the purpose of receiving payment of principal
of and (subject to Section 3.8) any interest on such Security and for all
other purposes whatsoever, whether or not such Security be overdue, and none
of the Company, the Trustee or any agent of the Company or the Trustee shall
be affected by notice to the contrary.

         (b)   No holder of any beneficial interest in any Global Security held
on its behalf by a Depositary shall have any rights under this Indenture with
respect to such Global Security, and such Depositary may be treated by the
Company, the Trustee and any agent of the Company or the Trustee as the owner
of such Global Security 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 a Depositary or impair, as between
a Depositary and such holders of beneficial interests, the operation of
customary practices governing the exercise of the rights of the Depositary
(or its nominee) as Holder of any Security.

Section 3.10.  Cancellation.

         All Securities surrendered for payment, redemption, transfer or
exchange shall, if surrendered to any Person other than the Trustee, be
delivered to the Trustee, and any such Securities, and Securities surrendered
directly to the Trustee for any such purpose, shall be promptly canceled by
it. The Company may at any time deliver to the Trustee for cancellation any
Securities previously authenticated and delivered hereunder that the Company
may have acquired in any manner whatsoever, and all Securities so delivered
shall be promptly canceled by the Trustee. No Securities shall be
authenticated in lieu of or in exchange for any Securities canceled as
provided in this Section 3.10, except as expressly permitted by this
Indenture. All canceled Securities shall be destroyed by the Trustee and the
Trustee shall deliver to the Company a certificate of such destruction.

Section 3.11.  Computation of Interest.

         Interest on the Securities for any period shall be computed on the
basis of a 360-day year of twelve 30-day months and the actual number of days
elapsed in any partial month in such period, and interest on the Securities
for a full period shall be computed by dividing the rate per annum by four.

Section 3.12.  Deferrals of Interest Payment Dates.

         (a)   So long as no Event of Default has occurred and is continuing,
the Company shall have the right, at any time during the term of the
Securities, from time to time to defer the payment of interest on such
Securities for such period or periods (each an "Extension Period") not to
exceed the number of consecutive interest periods that equal 20 consecutive
quarterly periods with respect to each Extension Period, during which
Extension Periods the Company shall have the right to make partial payments
of interest on any Interest Payment Date. No Extension Period shall end on a
date other than an Interest Payment Date. At the end of any such Extension
Period, the Company shall pay all interest then accrued and unpaid on the
Securities (together with Additional Interest thereon, if any, at the rate
specified for the

                                   - 28 -

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<PAGE>

Securities to the extent permitted by applicable law); provided, however,
that no Extension Period shall extend beyond the Stated Maturity of the
principal of the Securities; and provided further, however, that, during any
such Extension Period, the Company shall not (i) declare or pay any dividends
or distributions on, or redeem, purchase, acquire or make a liquidation
payment with respect to, any of the Company's capital stock, (ii) make any
payment of principal of or interest or premium, if any, on or repay,
repurchase or redeem any debt securities of the Company that rank pari passu
with or junior in interest to the Securities, including the Company's
obligations associated with the Preferred Securities and the 9.875% junior
subordinated debentures due 2029 issued by the Company on August 2, 1999, which
are currently held by Allegiant Capital Trust I or (iii) redeem, purchase or
acquire less than all of the Securities or any of the Preferred Securities
(other than (A) repurchases, redemptions or other acquisitions of shares of
capital stock of the Company in connection with any employment contract,
benefit plan or other similar arrangement with or for the benefit of any one
or more employees, officers, directors or consultants, or in connection with
a dividend reinvestment or shareholder stock purchase plan, (B) as a result
of a reclassification, an exchange or conversion of any class or series of
the Company's capital stock (or any capital stock of a Subsidiary of the
Company) for any class or series of the Company's capital stock, (C) the
purchase of fractional interests in shares of the Company's capital stock
pursuant to the conversion or exchange provisions of such capital stock or
the security being converted or exchanged, (D) any declaration of a dividend
in connection with any Rights Plan, or the issuance of rights, stock or other
property under any Rights Plan, or the redemption or repurchase of rights
pursuant thereto, or (E) any dividend in the form of stock, warrants, options
or other rights where the dividend stock or the stock issuable upon exercise
of such warrants, options or other rights is the same stock as that on which
the dividend is being paid or ranks pari passu with or junior to such stock).
Prior to the termination of any such Extension Period, the Company may
further defer the payment of interest, provided that no Event of Default has
occurred and is continuing and provided further, that no Extension Period
shall exceed twenty (20) consecutive quarterly periods, extend beyond the
Stated Maturity of the principal of such Securities or end on a date other
than an Interest Payment Date. Upon the termination of any such Extension
Period and upon the payment of all accrued and unpaid interest and any
Additional Interest then due on any Interest Payment Date, the Company may
elect to begin a new Extension Period, subject to the above conditions. No
interest or Additional Interest shall be due and payable during an Extension
Period, except at the end thereof, but each installment of interest that
would otherwise have been due and payable during such Extension Period shall
bear Additional Interest. The Company shall give the Holders of the
Securities and the Trustee notice of its election to begin any such Extension
Period at least one Business Day prior to the next succeeding Interest
Payment Date on which interest on Securities would be payable but for such
deferral or, with respect to any Securities issued to the Issuer Trust, so
long as any such Securities are held by the Issuer Trust, at least one
Business Day prior to the earlier of (x) the next succeeding date on which
Distributions (as defined in the Trust Agreement) on the Preferred Securities
of the Issuer Trust would be payable but for such deferral, and (y) the date
on which the Property Trustee of the Issuer Trust is required to give notice
to holders of such Preferred Securities of the record date or the date such
Distributions are payable, but in any event not less than one Business Day
prior to such record date.

         (b)   The Trustee shall promptly give notice of the Company's election
to begin any such Extension Period to the Holders of the Outstanding
Securities.

Section 3.13.  Right of Set-Off.

         With respect to the Securities initially issued to the Issuer Trust,
notwithstanding anything to the contrary herein, the Company shall have the
right to set off any payment it is otherwise required to make in respect of
any such Security to the extent the Company has theretofore made, or is
concurrently on the

                                   - 29 -

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<PAGE>

date of such payment making, a payment under the Guarantee or to a holder of
Preferred Securities pursuant to an action undertaken under Section 5.8 of
this Indenture.

Section 3.14.  Agreed Tax Treatment.

         Each Security issued hereunder shall provide that the Company and,
by its acceptance of a Security or a beneficial interest therein, the Holder
of, and any Person that acquires a beneficial interest in, such Security
agree that for United States federal, state and local tax purposes it is
intended that such Security constitutes indebtedness.

Section 3.15.  CUSIP Numbers.

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

Section 3.16.  Shortening of Stated Maturity.

         The Company shall have the right to shorten the Stated Maturity of
the principal of the Securities at any time to any date not earlier than
_____ __, 2006, provided that the Company shall give notice to the Holders,
the Trustee and, in the case of Securities issued to an Issuer Trust, the
Issuer Trust of such shortening no less than 90 days prior to the
effectiveness thereof and provided that the Company shall have received prior
regulatory approval, if required.

Section 3.17.  Listing of the Junior Subordinated Debentures.

         In the event that the Junior Subordinated Debentures are distributed
to the holders of the Preferred Securities for any reason, the Depositor and
the Issuer Trust will use their respective commercially reasonable efforts to
cause the Junior Subordinated Debentures to be listed, subject to notice of
issuance, at the time of such distribution, upon the Nasdaq National Market
and/or such securities exchange or exchanges upon which the Preferred
Securities are then listed. The Depositor will thereafter comply with all
registration, filing and reporting requirements of the Nasdaq National Market
or such exchange upon which the Junior Subordinated Debentures are listed.

                                   ARTICLE IV

                           SATISFACTION AND DISCHARGE

Section 4.1.   Satisfaction and Discharge of Indenture.

         This Indenture shall, upon Company Request, cease to be of further
effect (except as to any surviving rights of registration of transfer or
exchange of Securities herein expressly provided for and as otherwise
provided in this Section 4.1) and the Trustee, on demand of and at the
expense of the Company, shall execute proper instruments acknowledging
satisfaction and discharge of this Indenture, when:

                                     - 30 -

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<PAGE>

         (a)   either

               (i)     all Securities theretofore authenticated and delivered
(other than (A) Securities that have been destroyed, lost or stolen and that
have been replaced or paid as provided in Section 3.7 and (B) Securities for
whose payment money has theretofore been deposited in trust or segregated and
held in trust by the Company and thereafter repaid to the Company or
discharged from such trust, as provided in Section 10.3) have been delivered
to the Trustee for cancellation; or

               (ii)    all such Securities not theretofore delivered to the
Trustee for cancellation

                       (A)    have become due and payable,

                       (B)    will become due and payable at their Stated
Maturity within one year of the date of deposit, or

                       (C)    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 the Company, in the case of subclause (ii)(A), (B) or (C) above, has
deposited or caused to be deposited with the Trustee as trust funds in trust
for such purpose an amount in the currency or currencies in which the
Securities are payable sufficient to pay and discharge the entire
indebtedness on such Securities not theretofore delivered to the Trustee for
cancellation, for the principal (and premium, if any) and interest (including
any Additional Interest) to the date of such deposit (in the case of
Securities that have become due and payable) or to the Stated Maturity or
Redemption Date, as the case may be;

         (b)   the Company has paid or caused to be paid all other sums
payable hereunder by the Company; and

         (c)   the Company has delivered to the Trustee an Officers'
Certificate and an Opinion of Counsel each stating that all conditions
precedent herein provided for relating to the satisfaction and discharge of
this Indenture have been complied with.

         Notwithstanding the satisfaction and discharge of this Indenture,
the obligations of the Company to the Trustee under Section 6.7, the
obligations of the Company to any Authenticating Agent under Section 6.14
and, if money shall have been deposited with the Trustee pursuant to
subclause (ii) of clause (a) of this Section, the obligations of the Trustee
under Section 4.2 and the last paragraph of Section 10.3 shall survive.

Section 4.2.   Application of Trust Money.

         Subject to the provisions of the last paragraph of Section 10.3, all
money deposited with the Trustee pursuant to Section 4.1 shall be held in
trust and applied by the Trustee, in accordance with the provisions of the
Securities and this Indenture, to the payment, either directly or through any
Paying Agent (including the Company acting as its own Paying Agent) as the
Trustee may determine, to the Persons entitled thereto, of the principal (and
premium, if any) and interest and Additional Interest for the payment of
which such money or obligations have been deposited with or received by the
Trustee.

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                                    ARTICLE V

                                    REMEDIES

Section 5.1.   Events of Default.

         "Event of Default", wherever used herein with respect to the
Securities, means any one of the following events (whatever the reason for
such Event of Default and whether it shall be voluntary or involuntary or be
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):

         (a)   default in the payment of any interest upon any Security,
including any Additional Interest in respect thereof, when it becomes due and
payable and continuance of such default for a period of 30 days (subject to
the deferral of any due date in the case of an Extension Period);

         (b)   default in the payment of the principal of (or premium, if any,
on) any Security when due, whether at its Stated Maturity, upon redemption or
otherwise;

         (c)   failure on the part of the Company duly to observe or perform
any other of the covenants or agreements on the part of the Company in the
Securities or in this Indenture for a period of 90 days after the date on
which written notice of such failure (a "Notice of Default"), requiring the
Company to remedy the same, shall have been given to the Company by the
Trustee by registered or certified mail or to the Company and the Trustee by
the Holders of at least 25% in aggregate principal amount of the Outstanding
Securities; or

         (d)   the occurrence of the appointment of a receiver or other similar
official in any liquidation, insolvency or similar proceeding with respect to
the Company or all or substantially all of its property; or a court or other
governmental agency shall enter a decree or order appointing a receiver or
similar official and such decree or order shall remain unstayed and
undischarged for a period of 60 days.

Section 5.2.   Acceleration of Maturity; Rescission and Annulment.

         (a)   If an Event of Default (other than an Event of Default specified
in Section 5.1(d)) with respect to Securities at the time Outstanding occurs
and is continuing, then, and in every such case, the Trustee or the Holders
of not less than 25% in aggregate principal amount of the Outstanding
Securities may declare the principal amount (or, if the Securities are
Discount Securities, such portion of the principal amount as may be specified
in the terms) of all the Securities to be due and payable immediately, by a
notice in writing to the Company (and to the Trustee if given by Holders);
provided, however that, if, upon an Event of Default, the Trustee or the
Holders of not less than 25% in principal amount of the Outstanding
Securities fail to declare the principal of all the Outstanding Securities to
be immediately due and payable, the holders of at least 25% in aggregate
Liquidation Amount of the Preferred Securities issued by the Issuer Trust
then outstanding shall have the right to make such declaration by a notice in
writing to the Company and the Trustee; and upon any such declaration such
principal amount (or specified portion thereof) of and the accrued interest
(including any Additional Interest) on all the Securities shall become
immediately due and payable. If an Event of Default specified in Section
5.1(d) with respect to Securities at the time Outstanding occurs, the
principal amount of all the Securities (or, if the Securities are Discount
Securities, such portion of the principal amount of such Securities as may be
specified by the terms) shall automatically, and without any declaration or
other action on the part of the Trustee or any Holder, become immediately due
and payable. Payment of principal and interest (including any Additional
Interest) on such Securities shall remain subordinated to

                                   - 32 -

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<PAGE>

the extent provided in Article XIII notwithstanding that such amount shall
become immediately due and payable as herein provided.

         (b)   At any time after such a declaration of acceleration with
respect to the Securities has been made and before a judgment or decree for
payment of the money due has been obtained by the Trustee as hereinafter in
this Article V provided, the Holders of a majority in aggregate principal
amount of the Outstanding Securities, by written notice to the Company and
the Trustee, may rescind and annul such declaration and its consequences if:

               (i)     the Company has paid or deposited with the Trustee a
sum sufficient to pay:

                       (A)    all overdue installments of interest on all
Securities;

                       (B)    any accrued Additional Interest on all Securities;

                       (C)    the principal of (and premium, if any, on) any
Securities that have become due otherwise than by such declaration of
acceleration and interest and Additional Interest thereon at the rate borne
by the Securities; and

                       (D)    all sums paid or advanced by the Trustee
hereunder and the reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel; and

               (ii)    all Events of Default with respect to Securities,
other than the non-payment of the principal of Securities that has become due
solely by such acceleration, have been cured or waived as provided in Section
5.13.

         (c)   If the Holders of Securities fail to annul such declaration and
waive such default, the holders of a majority in aggregate Liquidation Amount
of Preferred Securities issued by the Issuer Trust then outstanding shall
also have the right to rescind and annul such declaration and its
consequences by written notice to the Company and the Trustee, subject to the
satisfaction of the conditions set forth in clauses (a) and (b) above of this
Section 5.2.

         (d)   No such rescission shall affect any subsequent default or
impair any right consequent thereon.

Section 5.3    Collection of Indebtedness and Suits for Enforcement by Trustee.

         (a)   The Company covenants that if:

               (i)     default is made in the payment of any installment of
interest (including any Additional Interest) on any Security when such
interest becomes due and payable and such default continues for a period of
30 days, or

               (ii)    default is made in the payment of the principal of
(and premium, if any, on) any Security at the Stated Maturity thereof,

then the Company will, upon demand of the Trustee, pay to the Trustee, for
the benefit of the Holders of the Securities, the whole amount then due and
payable on the Securities for principal (and premium, if any) and interest
(including any Additional Interest), and, in addition thereto, all amounts
owing the Trustee under Section 6.7.

                                   - 33 -

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<PAGE>

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

         (c)   If an Event of Default with respect to Securities occurs and is
continuing, the Trustee may in its discretion proceed to protect and enforce
its rights and the rights of the Holders of Securities by such appropriate
judicial proceedings as the Trustee shall deem most effectual to protect and
enforce any such rights, whether for the specific enforcement of any covenant
or agreement in this Indenture or in aid of the exercise of any power granted
herein, or to enforce any other proper remedy.

Section 5.4.   Trustee May File Proofs of Claim.

         In case of any receivership, insolvency, liquidation, bankruptcy,
reorganization, arrangement, adjustment, composition or other judicial or
administrative proceeding relative to the Company or any other obligor upon
the Securities or the property of the Company or of such other obligor or
their creditors,

         (a)   the Trustee (irrespective of whether the principal of the
Securities shall then be due and payable as therein expressed or by
declaration or otherwise and irrespective of whether the Trustee shall have
made any demand on the Company for the payment of overdue principal (and
premium, if any) or interest (including any Additional Interest)) shall be
entitled and empowered, by intervention in such proceeding or otherwise:

               (i)     to file and prove a claim for the whole amount of
principal (and premium, if any) and interest (including any Additional
Interest) owing and unpaid in respect to the Securities and to file such
other papers or documents as may be necessary or advisable and to take any
and all actions as are authorized under the Trust Indenture Act in order to
have the claims of the Holders and any predecessor to the Trustee under
Section 6.7 allowed in any such judicial or administrative proceedings; and

               (ii)    in particular, the Trustee shall be authorized to
collect and receive any monies or other property payable or deliverable on
any such claims and to distribute the same in accordance with Section 5.6;
and

         (b)   any custodian, receiver, assignee, trustee, liquidator,
sequestrator, conservator (or other similar official) in any such judicial or
administrative proceeding is hereby authorized by each Holder to make such
payments to the Trustee for distribution in accordance with Section 5.6, 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 to it and any
predecessor Trustee under Section 6.7.

         Nothing herein contained shall be deemed to authorize the Trustee to
authorize or consent to accept or adopt on behalf of any Holder any plan of
reorganization, arrangement, adjustment or composition affecting the
Securities or the rights of any Holder thereof, or to authorize the Trustee
to vote in respect of the claim of any Holder in any such proceeding;
provided, however, that the Trustee may, on behalf of the Holders, vote for
the election of a trustee in bankruptcy or similar official and be a member
of a creditors' or other similar committee.

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<PAGE>

Section 5.5.   Trustee May Enforce Claim Without Possession of Securities.

         All rights of action and claims under this Indenture or the
Securities may be prosecuted and enforced by the Trustee without the
possession of any of the Securities or the production thereof in any
proceeding relating thereto, and any such proceeding instituted by the
Trustee shall be brought in its own name as trustee of an express trust, and
any recovery of judgment shall, subject to Article XIII and after provision
for the payment of all the amounts owing the Trustee and any predecessor
Trustee under Section 6.7, its agents and counsel, be for the ratable benefit
of the Holders of the Securities in respect of which such judgment has been
recovered.

Section 5.6.   Application of Money Collected.

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

         FIRST: To the payment of all amounts due the Trustee and any
predecessor Trustee under Section 6.7;

         SECOND: Subject to Article XIII, to the payment of the amounts then
due and unpaid upon Securities for principal (and premium, if any) and
interest (including any Additional Interest) in respect of which or for the
benefit of which such money has been collected, ratably, without preference
or priority of any kind, according to the amounts due and payable on such
Securities for principal (and premium, if any) and interest (including any
Additional Interest), respectively; and

         THIRD: The balance, if any, to the Person or Persons entitled thereto.

Section 5.7.   Limitation on Suits.

         Subject to Section 5.8, no Holder of any Securities shall have any
right to institute any proceeding, judicial or otherwise, with respect to
this Indenture or for the appointment of a receiver, assignee, trustee,
liquidator, sequestrator (or other similar official) or for any other remedy
hereunder, unless:

         (a)   such Holder has previously given written notice to the Trustee
of a continuing Event of Default with respect to the Securities, as herein
before provided;

         (b)   the Holders of not less than 25% in aggregate principal amount
of the Outstanding Securities shall have made written request to the Trustee
to institute proceedings in respect of such Event of Default in its own name
as Trustee hereunder;

         (c)   such Holder or Holders have offered to the Trustee reasonable
indemnity against the costs, expenses and liabilities to be incurred in
compliance with such request;

         (d)   the Trustee for 60 days after its receipt of such notice,
request and offer of indemnity has failed to institute any such proceeding;
and

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         (e)   no direction inconsistent with such written request has been
given to the Trustee during such 60-day period by the Holders of a majority
in aggregate principal amount of the Outstanding Securities; it being
understood and intended that no one or more of such Holders shall have any
right in any manner whatever by virtue of, or by availing itself of, any
provision of this Indenture to affect, disturb or prejudice the rights of any
other Holders of Securities, or to obtain or to seek to obtain priority or
preference over any other of such Holders or to enforce any right under this
Indenture, except in the manner herein provided and for the equal and ratable
benefit of all such Holders.

Section 5.8.   Unconditional Right of Holders to Receive Principal, Premium
and Interest; Direct Action by Holders of Preferred Securities.

         Notwithstanding any other provision in this Indenture, the Holder of
any Security shall have the right, which is absolute and unconditional, to
receive payment of the principal of (and premium, if any) and (subject to
Sections 3.8 and 3.12) interest (including any Additional Interest) on such
Security on the Stated Maturity (or in the case of redemption, on the
Redemption Date) and to institute suit for the enforcement of any such
payment, and such right shall not be impaired without the consent of such
Holder. Any registered holder of the Preferred Securities issued by the
Issuer Trust shall have the right, upon the occurrence of an Event of Default
described in Section 5.1(a) or 5.1(b), to institute a suit directly against
the Company for enforcement of payment to such holder of principal of (and
premium, if any) and (subject to Sections 3.8 and 3.12) interest (including
any Additional Interest) on the Securities having a principal amount equal to
the aggregate Liquidation Amount of such Preferred Securities held by such
holder.

Section 5.9.   Restoration of Rights and Remedies.

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

Section 5.10.  Rights and Remedies Cumulative.

         Except as otherwise provided in the last paragraph of Section 3.7,
no right or remedy herein conferred upon or reserved to the Trustee or the
Holders is intended to be exclusive of any other right or remedy, and every
right and remedy shall, to the extent permitted by law, be cumulative and in
addition to every other right and remedy given hereunder or now or hereafter
existing at law or in equity or otherwise. The assertion or employment of any
right or remedy hereunder, or otherwise, shall not prevent the concurrent
assertion or employment of any other appropriate right or remedy.

Section 5.11.  Delay or Omission Not Waiver.

         (a)   No delay or omission of the Trustee, any Holder of any Security
with respect to the Securities or any holder of any Preferred Security to
exercise any right or remedy accruing upon any Event of Default with respect
to the Securities shall impair any such right or remedy or constitute a
waiver of any such Event of Default or an acquiescence therein.

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         (b)   Every right and remedy given by this Article V or by law to the
Trustee or to the Holders and the right and remedy given to the holders of
Preferred Securities by Sections 5.2 and 5.8 may be exercised from time to
time, and as often as may be deemed expedient, by the Trustee, the Holders or
the holders of Preferred Securities, as the case may be.

Section 5.12.  Control by Holders.

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

         (a)   such direction shall not be in conflict with any rule of law
or with this Indenture;

         (b)   the Trustee may take any other action deemed proper by the
Trustee that is not inconsistent with such direction; and

         (c)   subject to the provisions of Section 6.1, the Trustee shall have
the right to decline to follow such direction if a Responsible Officer or
Officers of the Trustee shall, in good faith, determine that the proceeding
so directed would be unjustly prejudicial to the Holders not joining in any
such direction or would involve the Trustee in personal liability.

Section 5.13.  Waiver of Past Defaults.

         (a)   The Holders of a majority in aggregate principal amount of the
Outstanding Securities affected thereby and, the holders of a majority in
aggregate Liquidation Amount of the Preferred Securities issued by the Issuer
Trust may waive any past default hereunder and its consequences except a
default:

               (i)     in the payment of the principal of (or premium, if any)
or interest (including any Additional Interest) on any Security (unless such
default has been cured and the Company has paid to or deposited with the
Trustee a sum sufficient to pay all matured installments of interest
(including Additional Interest) and all principal of (and premium, if any on)
all Securities due otherwise than by acceleration); or

               (ii)    in respect of a covenant or provision hereof that
under Article IX cannot be modified or amended without the consent of each
Holder of any Outstanding Security affected thereby.

         (b)   Any such waiver shall be deemed to be on behalf of the Holders
of all the Securities, or in the case of waiver by holders of Preferred
Securities issued by the Issuer Trust, by all holders of Preferred Securities
issued by the Issuer Trust.

         (c)   Upon any such waiver, such default shall cease to exist, and any
Event of Default arising therefrom shall be deemed to have been cured, for
every purpose of this Indenture, but no such waiver shall extend to any
subsequent or other default or impair any right consequent thereon.

Section 5.14.  Undertaking for Costs.

         All parties to this Indenture agree, and each Holder of any Security
by his acceptance thereof shall be deemed to have agreed, that any court may,
in its discretion, require, in any suit for the

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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, the
filing by any party litigant in such suit of an undertaking to pay the costs
of such suit, and that such court may, in its discretion, assess reasonable
costs, including reasonable attorneys' fees, against any party litigant in
such suit, having due regard to the merits and good faith of the claims or
defenses made by such party litigant, but the provisions of this Section
shall not apply to any suit instituted by the Trustee, to any suit instituted
by any Holder, or group of Holders, holding in the aggregate more than 10% in
aggregate principal amount of the Outstanding Securities, or to any suit
instituted by any Holder for the enforcement of the payment of the principal
of (or premium, if any) or interest (including any Additional Interest) on
any Security on or after the Stated Maturity.

Section 5.15.  Waiver of Usury, Stay or Extension Laws.

         The Company covenants (to the extent that it may lawfully do so)
that it will not at any time insist upon, or plead, or in any manner
whatsoever claim or take the benefit or advantage of, any usury, 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 covenants that it will not
hinder, delay or impede the execution of any power herein granted to the
Trustee, but will suffer and permit the execution of every such power as
though no such law had been enacted.

                                   ARTICLE VI

                                   THE TRUSTEE

Section 6.1.   Certain Duties and Responsibilities.

         (a)   Except during the continuance of an Event of Default,

               (i)     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

               (ii)    in the absence of bad faith on its part, the Trustee
may conclusively rely, as to the truth of the statements and the correctness
of the opinions expressed therein, upon certificates or opinions furnished to
the Trustee and conforming to the requirements of this Indenture, but in the
case of any such certificates or opinions that by any provisions hereof are
specifically required to be furnished to the Trustee, the Trustee shall be
under a duty to examine the same to determine whether or not they conform to
the requirements of this Indenture.

         (b)   In case an Event of Default has occurred and is continuing, the
Trustee shall exercise such of the rights and powers vested in it by this
Indenture, and use the same degree of care and skill in their exercise, as a
prudent person would exercise or use under the circumstances in the conduct
of his or her own affairs.

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

               (i)     this subsection shall not be construed to limit the
effect of subsection (a) of this Section 6.1;

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

               (iii)   the Trustee shall not be liable with respect to any
action taken or omitted to be taken by it in good faith in accordance with
the direction of Holders pursuant to Section 5.12 relating to the time,
method and place of conducting any proceeding for any remedy available to the
Trustee, or exercising any trust or power conferred upon the Trustee, under
this Indenture with respect to the Securities.

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

         (e)   Whether or not therein expressly so provided, 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.

Section 6.2.   Notice of Defaults.

         Within 90 days after actual knowledge by a Responsible Officer of
the Trustee of the occurrence of any default hereunder with respect to the
Securities, the Trustee shall transmit by mail to all Holders of Securities,
as their names and addresses appear in the Securities Register, notice of
such default, unless such default shall have been cured or waived; provided,
however, that, except in the case of a default in the payment of the
principal of (or premium, if any) or interest (including any Additional
Interest) on any Security, the Trustee shall be protected in withholding such
notice if and so long as the board of directors, the executive committee or a
trust committee of directors and/or Responsible Officers of the Trustee in
good faith determines that the withholding of such notice is in the interests
of the Holders of Securities; and provided further, that, in the case of any
default of the character specified in Section 5.1(c), no such notice to
Holders of Securities shall be given until at least 30 days after the
occurrence thereof. For the purpose of this Section 6.2, the term "default"
means any event that is, or after notice or lapse of time or both would
become, an Event of Default with respect to the Securities.

Section 6.3.   Certain Rights of Trustee.

         Subject to the provisions of Section 6.1:

         (a)   the Trustee may rely and shall be protected in acting or
refraining from acting upon any resolution, certificate, statement,
instrument, opinion, report, notice, request, direction, consent, order,
bond, debenture, Security or other paper or document believed by it to be
genuine and to have been signed or presented by the proper party or parties;

         (b)   any request or direction of the Company mentioned herein shall
be sufficiently evidenced by a Company Request or Company Order and any
resolution of the Board of Directors may be sufficiently evidenced by a Board
Resolution;

         (c)   whenever in the administration of this Indenture the Trustee
shall deem it desirable that a matter be proved or established prior to
taking, suffering or omitting any action hereunder, the Trustee

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(unless other evidence be herein specifically prescribed) may, in the absence of
bad faith on its part, rely upon an Officers' Certificate;

         (d)   the Trustee may consult with counsel of its choice and the
advice of such counsel or any Opinion of Counsel shall be full and complete
authorization and protection in respect of any action taken, suffered or
omitted by it hereunder in good faith and in reliance thereon;

         (e)   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 reasonable security or indemnity against the
costs, expenses and liabilities that might be incurred by it in compliance
with such request or direction; provided, however, that nothing herein shall
relieve the Trustee of its obligations upon the occurrence of an Event of
Default that has not been cured or waived to exercise with respect to the
Securities such of the rights and powers vested in the Trustee by this
Indenture, and to use the same degree of care and skill in exercising such
rights and powers as a reasonably prudent person would use under the
circumstances in the conduct of his own affairs.

         (f)   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, indenture, Security or other paper or document, but the Trustee in its
discretion may make such inquiry or investigation into such facts or matters
as it may see fit, and, if the Trustee shall determine to make such inquiry
or investigation, it shall be entitled to examine the books, records and
premises of the Company, personally or by agent or attorney; and

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

Section 6.4.   Not Responsible for Recitals or Issuance of Securities.

         The recitals contained herein and in the Securities, except the
Trustee's certificates of authentication, shall be taken as the statements of
the Company, and neither the Trustee nor any Authenticating Agent assumes any
responsibility for their correctness. The Trustee makes no representations as
to the validity or sufficiency of this Indenture or of the Securities.
Neither the Trustee nor any Authenticating Agent shall be accountable for the
use or application by the Company of the Securities or the proceeds thereof.

Section 6.5.   May Hold Securities.

         The Trustee, any Authenticating Agent, any Paying Agent, any
Securities Registrar or any other agent of the Company, in its individual or
any other capacity, may become the owner or pledgee of Securities and,
subject to Sections 6.8 and 6.13, may otherwise deal with the Company with
the same rights it would have if it were not Trustee, Authenticating Agent,
Paying Agent, Securities Registrar or such other agent.

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Section 6.6.   Money Held in Trust.

         Money held by the Trustee in trust hereunder need not be segregated
from other funds except to the extent required by law. The Trustee shall be
under no liability for interest on any money received by it hereunder except
as otherwise agreed with the Company.

Section 6.7.   Compensation and Reimbursement.

         (a)   The Company agrees to pay to the Trustee from time to time
reasonable compensation for all services rendered by it hereunder in such
amounts as the Company and the Trustee shall agree from time to time (which
compensation shall not be limited by any provision of law in regard to the
compensation of a trustee of an express trust).

         (b)   The Company agrees to reimburse the Trustee upon its request for
all reasonable expenses, disbursements and advances incurred or made by the
Trustee in accordance with any provision of this Indenture (including the
reasonable compensation and the expenses and disbursements of its agents and
counsel), except any such expense disbursement or advance as may be
attributable to its negligence, bad faith or willful misconduct.

         (c)   Since the Issuer Trust is being formed solely to facilitate an
investment in the Preferred Securities, the Company, as Holder of the Common
Securities, hereby covenants to pay all debts and obligations (other than
with respect to the Preferred Securities and the Common Securities) and all
reasonable costs and expenses of the Issuer Trust (including, without
limitation, all costs and expenses relating to the organization of the Issuer
Trust, the fees and expenses of the trustees and all reasonable costs and
expenses relating to the operation of the Issuer Trust) and to pay any and
all taxes, duties, assessments or governmental charges of whatever nature
(other than withholding taxes) imposed on the Issuer Trust by the United
States, or any taxing authority, so that the net amounts received and
retained by the Issuer Trust and the Property Trustee after paying such
expenses will be equal to the amounts the Issuer Trust and the Property
Trustee would have received had no such costs or expenses been incurred by or
imposed on the Issuer Trust. The foregoing obligations of the Company are for
the benefit of, and shall be enforceable by, any person to whom any such
debts, obligations, costs, expenses and taxes are owed (each, a "Creditor")
whether or not such Creditor has received notice thereof. Any such Creditor
may enforce such obligations directly against the Company, and the Company
irrevocably waives any right or remedy to require that any such Creditor take
any action against the Issuer Trust or any other person before proceeding
against the Company. The Company shall execute such additional agreements as
may be necessary or desirable to give full effect to the foregoing.

         (d)   The Company shall indemnify the Trustee, its directors,
officers, employees and agents for, and hold them harmless against, any loss,
liability or expense (including the reasonable compensation and the expenses
and disbursements of its agents and counsel) incurred without negligence, bad
faith or willful misconduct, arising out of or in connection with the
acceptance or administration of this trust or the performance of its duties
hereunder, including the reasonable costs and expenses of defending against
any claim or liability in connection with the exercise or performance of any
of its powers or duties hereunder. This indemnification shall survive the
termination of this Indenture or the resignation or removal of the Trustee.

         (e)   When the Trustee incurs expenses or renders services after an
Event of Default specified in Section 5.1(d) occurs, the expenses and the
compensation for the services are intended to constitute expenses of
administration under the Bankruptcy Reform Act of 1978 or any successor
statute.

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Section 6.8.   Disqualification; Conflicting Interests.

         The Trustee for the Securities issued hereunder shall be subject to,
and shall comply fully with, the provisions of Section 310(b) of the Trust
Indenture Act. Nothing herein shall prevent the Trustee from filing with the
Commission the application referred to in the second to last paragraph of
said Section 310(b).

Section 6.9.   Corporate Trustee Required; Eligibility.

         There shall at all times be a Trustee with respect to the Securities
issued hereunder which shall be:

         (a)   a Person organized and doing business under the laws of the
United States of America or of any state or territory thereof or of the
District of Columbia, authorized under such laws to exercise corporate trust
powers and subject to supervision or examination by federal, state,
territorial or District of Columbia authority, or

         (b)   an entity organized and doing business under the laws of a
foreign government that is permitted to act as Trustee pursuant to a rule,
regulation or order of the Commission, authorized under such laws to exercise
corporate trust powers, and subject to supervision or examination by
authority of such foreign government or a political subdivision thereof
substantially equivalent to supervision or examination applicable to United
States institutional trustees;

in either case having a combined capital and surplus of at least $50,000,000,
subject to supervision or examination by federal or state authority. If such
entity publishes reports of condition at least annually, pursuant to law or
to the requirements of the aforesaid supervising or examining authority,
then, for the purposes of this Section 6.9, the combined capital and surplus
of such entity shall be deemed to be its combined capital and surplus as set
forth in its most recent report of condition so published. If at any time the
Trustee shall cease to be eligible in accordance with the provisions of this
Section, it shall resign immediately in the manner and with the effect
hereinafter specified in this Article VI. Neither the Company nor any Person
directly or indirectly controlling, controlled by or under common control
with the Company shall serve as Trustee for the Securities issued hereunder.

Section 6.10.  Resignation and Removal; Appointment of Successor.

         (a)   No resignation or removal of the Trustee and no appointment of a
successor Trustee pursuant to this Article shall become effective until the
acceptance of appointment by the successor Trustee under Section 6.11.

         (b)   The Trustee may resign at any time with respect to the
Securities by giving written notice thereof to the Company. If an instrument
of acceptance by a successor Trustee shall not have been delivered to the
Trustee within 30 days after the giving of such notice of resignation, the
resigning Trustee may petition any court of competent jurisdiction for the
appointment of a successor Trustee.

         (c)   The Trustee may be removed at any time with respect to the
Securities by Act of the Holders of a majority in aggregate principal amount
of the Outstanding Securities, delivered to the Trustee and to the Company.

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         (d)   If at any time:

               (i)     the Trustee shall fail to comply with Section 6.8 after
written request therefor by the Company or by any Holder who has been a bona
fide Holder of a Security for at least six months, or

               (ii)    the Trustee shall cease to be eligible under Section
6.9 and shall fail to resign after written request therefor by the Company or
by any such Holder, or

               (iii)   the Trustee shall become incapable of acting or shall
be adjudged bankrupt or insolvent or a receiver of the Trustee or of its
property shall be appointed or any public officer shall take charge or
control of the Trustee or of its property or affairs for the purpose of
rehabilitation, conservation or liquidation;

then, in any such case, (x) the Company, acting pursuant to the authority of
a Board Resolution, may remove the Trustee with respect to the Securities
issued hereunder, or (y) subject to Section 5.14, any Holder who has been a
bona fide Holder of a Security for at least six months may, on behalf of such
Holder and all others similarly situated, petition any court of competent
jurisdiction for the removal of the Trustee with respect to the Securities
issued hereunder and the appointment of a successor Trustee or Trustees.

         (e)   If the Trustee shall resign, be removed or become incapable of
acting, or if a vacancy shall occur in the office of Trustee for any cause
with respect to the Securities, the Company, by a Board Resolution, shall
promptly appoint a successor Trustee with respect to the Securities. If,
within one year after such resignation, removal or incapability, or the
occurrence of such vacancy, a successor Trustee with respect to the
Securities shall be appointed by Act of the Holders of a majority in
aggregate principal amount of the Outstanding Securities delivered to the
Company and the retiring Trustee, the successor Trustee so appointed shall,
forthwith upon its acceptance of such appointment, become the successor
Trustee with respect to the Securities and supersede the successor Trustee
appointed by the Company. If no successor Trustee with respect to the
Securities shall have been so appointed by the Company or the Holders and
accepted appointment in the manner hereinafter provided, any Holder who has
been a bona fide Holder of a Security for at least six months may, subject to
Section 5.14, on behalf of such Holder and all others similarly situated,
petition any court of competent jurisdiction for the appointment of a
successor Trustee with respect to the Securities.

         (f)   The Company shall give notice of each resignation and each
removal of the Trustee with respect to the Securities and each appointment of
a successor Trustee with respect to the Securities by mailing written notice
of such event by first-class mail, postage prepaid, to the Holders of
Securities as their names and addresses appear in the Securities Register.
Each notice shall include the name of the successor Trustee with respect to
the Securities and the address of its Corporate Trust Office.

Section 6.11.  Acceptance of Appointment by Successor.

         (a)   In case of the appointment hereunder of a successor Trustee with
respect to all Securities, every such successor Trustee so appointed shall
execute, acknowledge and deliver to the Company and to the retiring Trustee
an instrument accepting such appointment, and thereupon the resignation or
removal of the retiring Trustee shall become effective and such successor
Trustee, without any further act, deed or conveyance, shall become vested
with all the rights, powers, trusts and duties of the retiring Trustee; but,
on the request of the Company or the successor Trustee, such retiring Trustee
shall, upon payment of its charges, execute and deliver an instrument
transferring to such successor

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Trustee all the rights, powers and trusts of the retiring Trustee and shall duly
assign, transfer and deliver to such successor Trustee all property and money
held by such retiring Trustee hereunder.

         (b)   Upon request of any such successor Trustee, the Company shall
execute any and all instruments for more fully and certainly vesting in and
confirming to such successor Trustee all rights, powers and trusts referred
to in Section 6.11(a).

         (c)   No successor Trustee shall accept its appointment unless, at the
time of such acceptance, such successor Trustee shall be qualified and
eligible under this Article VI.

Section 6.12.  Merger, Conversion, Consolidation or Succession to Business.

         Any entity into which the Trustee may be merged or converted or with
which it may be consolidated, or any entity resulting from any merger,
conversion or consolidation to which the Trustee shall be a party, or any
entity succeeding to all or substantially all of the corporate trust business
of the Trustee, shall be the successor of the Trustee hereunder, provided
such entity shall be otherwise qualified and eligible under this Article VI,
without the execution or filing of any paper or any further act on the part
of any of the parties hereto. In case any Securities shall have been
authenticated, but not delivered, by the Trustee then in office, any
successor by merger, conversion or consolidation to such authenticating
Trustee may adopt such authentication and deliver the Securities so
authenticated, and in case any Securities shall not have been authenticated,
any successor to the Trustee may authenticate such Securities either in the
name of any predecessor Trustee or in the name of such successor Trustee, and
in all cases the certificate of authentication shall have the full force
which it is provided anywhere in the Securities or in this Indenture that the
certificate of the Trustee shall have.

Section 6.13.  Preferential Collection of Claims Against Company.

         If and when the Trustee shall be or become a creditor of the Company
(or any other obligor upon the Securities), the Trustee shall be subject to
the provisions of the Trust Indenture Act regarding the collection of claims
against the Company (or any such other obligor).

Section 6.14.  Appointment of Authenticating Agent.

         (a)   The Trustee may appoint an Authenticating Agent or Agents with
respect to the Securities, which shall be authorized to act on behalf of the
Trustee to authenticate Securities issued upon original issue and upon
exchange, registration of transfer or partial redemption thereof or pursuant
to Section 3.6, and Securities so authenticated shall be entitled to the
benefits of this Indenture and shall be valid and obligatory for all purposes
as if authenticated by the Trustee hereunder. Wherever reference is made in
this Indenture to the authentication and delivery of Securities by the
Trustee or the Trustee's certificate of authentication, such reference shall
be deemed to include authentication and delivery on behalf of the Trustee by
an Authenticating Agent. Each Authenticating Agent shall be acceptable to the
Company and shall at all times be an entity organized and doing business
under the laws of the United States of America, or of any state or territory
thereof or of the District of Columbia, authorized under such laws to act as
Authenticating Agent, having a combined capital and surplus of not less than
$50,000,000 and subject to supervision or examination by federal or state
authority. If such Authenticating Agent publishes reports of condition at
least annually, pursuant to law or to the requirements of said supervising or
examining authority, then for the purposes of this Section the combined
capital and surplus of such Authenticating Agent shall be deemed to be its
combined capital and surplus as set forth in its most recent report of
condition so published. If at any time an Authenticating Agent shall cease to
be eligible in accordance with the provisions of this Section 6.14,

                                     - 44 -

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<PAGE>

such Authenticating Agent shall resign immediately in the manner and with the
effect specified in this Section 6.14.

         (b)   Any entity into which an Authenticating Agent may be merged or
converted or with which it may be consolidated, or any entity resulting from
any merger, conversion or consolidation to which such Authenticating Agent
shall be a party, or any entity succeeding to all or substantially all of the
corporate trust business of an Authenticating Agent shall be the successor
Authenticating Agent hereunder, provided such entity shall be otherwise
eligible under this Section, without the execution or filing of any paper or
any further act on the part of the Trustee or the Authenticating Agent.

         (c)   An Authenticating Agent may resign at any time by giving written
notice thereof to the Trustee and to the Company. The Trustee may at any time
terminate the agency of an Authenticating Agent by giving written notice
thereof to such Authenticating Agent and to the Company. Upon receiving such
a notice of resignation or upon such a termination, or in case at any time
such Authenticating Agent shall cease to be eligible in accordance with the
provisions of this Section, the Trustee may appoint a successor
Authenticating Agent, which shall be acceptable to the Company and shall give
notice of such appointment in the manner provided in Section 1.6 to all
Holders of Securities. Any successor Authenticating Agent upon acceptance
hereunder shall become vested with all the rights, powers and duties of its
predecessor hereunder, with like effect as if originally named as an
Authenticating Agent. No successor Authenticating Agent shall be appointed
unless eligible under the provision of this Section.

         (d)   The Company agrees to pay to each Authenticating Agent from time
to time reasonable compensation for its services under this Section, and the
Trustee shall be entitled to be reimbursed for such payment, subject to the
provisions of Section 6.7.

         (e)   If an appointment is made pursuant to this Section 6.14, the
Securities may have endorsed thereon, in addition to the Trustee's
certificate of authentication, an alternative certificate of authentication
in the following form:

         This is one of the Securities referred to in the within mentioned
Indenture.

Dated:                                BANKERS TRUST COMPANY, as Trustee
       --------------------------

                                      By:
                                         --------------------------------------
                                         As Authenticating Agent

                                     - 45 -

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                                   ARTICLE VII

                      HOLDERS LISTS AND REPORTS BY TRUSTEE,
                            PAYING AGENT AND COMPANY

Section 7.1.   Company to Furnish Trustee Names and Addresses of Holders.

         The Company will furnish or cause to be furnished to the Trustee:

         (a)   quarterly, not more than 15 days after March 15, June 15,
September 15 and December 15 in each year, a list, in such form as the
Trustee may reasonably require, of the names and addresses of the Holders as
of such dates, excluding from any such list names and addresses received by
the Trustee in its capacity as Securities Registrar; and

         (b)   at such other times as the Trustee may request in writing,
within 30 days after the receipt by the Company of any such request, a list
of similar form and content as of a date not more than 15 days prior to the
time such list is furnished, excluding from any such list names and addresses
received by the Trustee in its capacity as Securities Registrar.

Section 7.2.   Preservation of Information, Communications to Holders.

         (a)   The Trustee shall preserve, in as current a form as is
reasonably practicable, the names and addresses of Holders contained in the
most recent list furnished to the Trustee as provided in Section 7.1 and the
names and addresses of Holders received by the Trustee in its capacity as
Securities Registrar. The Trustee may destroy any list furnished to it as
provided in Section 7.1 upon receipt of a new list so furnished.

         (b)   The rights of Holders to communicate with other Holders with
respect to their rights under this Indenture or under the Securities, and the
corresponding rights and privileges of the Trustee, shall be as provided in
the Trust Indenture Act.

         (c)   Every Holder of Securities, by receiving and holding the same,
agrees with the Company and the Trustee that neither the Company nor the
Trustee nor any agent of either of them shall be held accountable by reason
of the disclosure of information as to the names and addresses of the Holders
made pursuant to the Trust Indenture Act.

Section 7.3.   Reports by Trustee and Paying Agent.

         (a)   The Trustee shall transmit to Holders such reports concerning
the Trustee and its actions under this Indenture as may be required pursuant
to the Trust Indenture Act, at the times and in the manner provided pursuant
thereto.

         (b)   Reports so required to be transmitted at stated intervals of not
more than 12 months shall be transmitted within 60 days of January 31 in each
calendar year, commencing with January 31, 2002.

         (c)   A copy of each such report shall, at the time of such
transmission to Holders, be filed by the Trustee with each securities
exchange upon which any Securities are listed and also with the Commission.
The Company will notify the Trustee when any Securities are listed on any
securities exchange.

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         (d)   The Paying Agent shall comply with all withholding, backup
withholding, tax and information reporting requirements under the Internal
Revenue Code of 1986, as amended, and the Treasury Regulations issued
thereunder with respect to payments on, or with respect to, the Securities.

Section 7.4.   Reports by Company.

         The Company shall file or cause to be filed with the Trustee and
with the Commission, and transmit to Holders, such information, documents and
other reports, and such summaries thereof, as may be required pursuant to the
Trust Indenture Act at the times and in the manner provided in the Trust
Indenture Act. In the case of information, documents or reports required to
be filed with the Commission pursuant to Section 13(a) or Section 15(d) of
the Exchange Act, the Company shall file or cause the filing of such
information documents or reports with the Trustee within 15 days after the
same is required to be filed with the Commission.

                                  ARTICLE VIII

              CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE

Section 8.1.   Company May Consolidate, Etc., Only on Certain Terms.

         The Company shall not consolidate with or merge into any other
Person or convey, transfer or lease its properties and assets substantially
as an entirety to any Person, and no Person shall consolidate with or merge
into the Company or convey, transfer or lease its properties and assets
substantially as an entirety to the Company, unless:

         (a)   if the Company shall consolidate with or merge into another
Person or convey, transfer or lease its properties and assets substantially
as an entirety to any Person, the entity formed by such consolidation or into
which the Company is merged or the Person that acquires by conveyance or
transfer, or that leases, the properties and assets of the Company
substantially as an entirety shall be an entity organized and existing under
the laws of the United States of America or any state thereof or the District
of Columbia and shall expressly assume, by an indenture supplemental hereto,
executed and delivered to the Trustee, in form satisfactory to the Trustee,
the due and punctual payment of the principal of (and premium, if any), and
interest (including any Additional Interest) on all the Securities and the
performance of every covenant of this Indenture on the part of the Company to
be performed or observed; provided, however, that nothing in this Indenture
shall be deemed to restrict or prohibit, and no supplemental indenture shall
be required in the case of the merger of a bank (as defined below) with and
into a bank or the Company, the consolidation of banks into a bank or the
Company, or the sale or other disposition of all or substantially all of the
assets of any bank to another bank or the Company, if, in any such case in
which the Company was not the surviving, resulting or acquiring entity, the
Company would own, directly or indirectly, at least 80% of the voting
securities of the bank (and of any other bank any voting securities of which
are owned, directly or indirectly, by such bank) surviving such merger,
resulting from such consolidation or acquiring such assets;

         (b)   immediately after giving effect to such transaction, no Event of
Default, and no event that, after notice or lapse of time, or both, would
constitute an Event of Default, shall have occurred and be continuing; and

         (c)   the Company has delivered to the Trustee an Officers'
Certificate and an Opinion of Counsel, each stating that such consolidation,
merger, conveyance, transfer or lease and any such supplemental indenture
comply with this Article and that all conditions precedent herein provided
for

                                     - 47 -

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<PAGE>

relating to such transaction have been complied with and, in the case of a
transaction subject to this Section 8.1 but not requiring a supplemental
indenture under paragraph (a) of this Section 8.1, an Officer's Certificate or
Opinion of Counsel to the effect that the surviving, resulting or successor
entity is legally bound by the Indenture and the Securities; and the Trustee,
subject to Section 6.1, may rely upon such Officers' Certificates and Opinions
of Counsel as conclusive evidence that such transaction complies with this
Section 8.1.

         For purposes of subparagraph (a) above, the term "bank" means each of:

         (x)   any banking subsidiary of the Company the consolidated assets
               of which constitute 20% or more of the consolidated assets of
               the Company and consolidated subsidiaries;

         (y)   any other banking subsidiary designated as a bank pursuant to
               a board resolution and set forth in an Officers' Certificate
               delivered to the trustee; and

         (z)   any subsidiary of the Company that owns, directly or indirectly,
               any voting securities, or options, warrants or rights to
               subscribe for or purchase voting securities, of any bank under
               (x) and (y) above and in the case of (x), (y) and this
               subparagraph (z), their respective successors (whether by
               consolidation, merger, conversion, transfer of substantially
               all their assets and business or otherwise) so long as any
               such successor is a banking subsidiary (in the case of (x) and
               (y)) or a subsidiary (in the case of (z)) of the Company.

Section 8.2.   Successor Company Substituted.

         (a)   Upon any consolidation or merger by the Company with or into any
other Person, or any conveyance, transfer or lease by the Company of its
properties and assets substantially as an entirety to any Person in
accordance with Section 8.1, the successor entity formed by such
consolidation or into which the Company is merged or to which such
conveyance, transfer or lease is made shall succeed to, and be substituted
for, and may exercise every right and power of, the Company under this
Indenture with the same effect as if such successor Person had been named as
the Company herein; and in the event of any such conveyance, transfer or
lease the Company shall be discharged from all obligations and covenants
under the Indenture and the Securities.

         (b)   Such successor Person may cause to be executed, and may issue
either in its own name or in the name of the Company, any or all of the
Securities issuable hereunder that theretofore shall not have been signed by
the Company and delivered to the Trustee; and, upon the order of such
successor Person instead of the Company and subject to all the terms,
conditions and limitations in this Indenture prescribed, the Trustee shall
authenticate and shall deliver any Securities that previously shall have been
signed and delivered by the officers of the Company to the Trustee for
authentication pursuant to such provisions and any Securities that such
successor Person thereafter shall cause to be executed and delivered to the
Trustee on its behalf for the purpose pursuant to such provisions. All the
Securities so issued shall in all respects have the same legal rank and
benefit under this Indenture as the Securities theretofore or thereafter
issued in accordance with the terms of this Indenture.

         (c)   In case of any such consolidation, merger, sale, conveyance or
lease, such changes in phraseology and form may be made in the Securities
thereafter to be issued as may be appropriate.

                                   - 48 -

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                                   ARTICLE IX

                             SUPPLEMENTAL INDENTURES

Section 9.1.   Supplemental Indentures Without Consent of Holders.

         Without the consent of any Holders, the Company, when authorized by
a Board Resolution, and the Trustee, at any time and from time to time, may
amend or waive any provision of this Indenture or enter into one or more
indentures supplemental hereto, in form satisfactory to the Trustee, for any
of the following purposes:

         (a)   to evidence the succession of another Person to the Company,
and the assumption by any such successor of the covenants of the Company
herein and in the Securities contained;

         (b)   to convey, transfer, assign, mortgage or pledge any property
to or with the Trustee;

         (c)   to facilitate the issuance of Securities in certificated or
other definitive form;

         (d)   to add to the covenants of the Company for the benefit of the
Holders of the Securities;

         (e)   to add any additional Events of Default for the benefit of the
Holders of the Securities;

         (f)   to change or eliminate any of the provisions of this Indenture,
provided that any such change or elimination shall not apply to any
Outstanding Securities;

         (g)   to cure any ambiguity, to correct or supplement any provision
herein that may be defective or inconsistent with any other provision herein,
or to make any other provisions with respect to matters or questions arising
under this Indenture, provided that such action pursuant to this clause (g)
shall not adversely affect the interest of the Holders of Securities in any
material respect or, in the case of the Securities issued to the Issuer Trust
and for so long as any of the Preferred Securities issued by the Issuer Trust
shall remain outstanding, the holders of such Preferred Securities;

         (h)   to evidence and provide for the acceptance of appointment
hereunder by a successor Trustee with respect to the Securities and to add to
or change any of the provisions of this Indenture as shall be necessary to
provide for or facilitate the administration of the trusts hereunder by more
than one Trustee, pursuant to the requirements of Section 6.11(b); or

         (i)   to comply with the requirements of the Commission in order to
effect or maintain the qualification of this Indenture under the Trust
Indenture Act.

Section 9.2.   Supplemental Indentures with Consent of Holders.

         With the consent of the Holders of a majority in aggregate principal
amount of the Outstanding Securities affected by such supplemental indenture,
by Act of said Holders delivered to the Company and the Trustee, the Company,
when authorized by a Board Resolution, and the Trustee may enter into an
indenture or indentures supplemental hereto for the purpose of adding any
provisions to or changing in any manner or eliminating any of the provisions
of this Indenture or of modifying in any manner the rights of the Holders of
Securities under this Indenture; provided, however, that no such supplemental
indenture shall, without the consent of the Holder of each Outstanding
Security affected thereby:

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<PAGE>

         (a)   change the Stated Maturity of the principal of, or any
installment of interest (including any Additional Interest) on, any Security,
or reduce the principal amount thereof or the rate of interest thereon or any
premium payable upon the redemption thereof, or reduce the amount of
principal of a Discount Security that would be due and payable upon a
declaration of acceleration of the Stated Maturity thereof pursuant to
Section 5.2, or change the place of payment where, or the coin or currency in
which, any Security or interest thereon is payable, or impair the right to
institute suit for the enforcement of any such payment on or after the Stated
Maturity thereof (or, in the case of redemption, on or after the Redemption
Date),

         (b)   reduce the percentage in aggregate principal amount of the
Outstanding Securities, the consent of whose Holders is required for any such
supplemental indenture, or the consent of whose Holders is required for any
waiver (of compliance with certain provisions of this Indenture or certain
defaults hereunder and their consequences) provided for in this Indenture, or

         (c)   modify any of the provisions of this Section, Section 5.13 or
Section 10.5, except to increase any such percentage or to provide that
certain other provisions of this Indenture cannot be modified or waived
without the consent of the Holder of each Security affected thereby;
provided, further, that, in the case of the Securities issued to the Issuer
Trust, so long as any of the Preferred Securities issued by the Issuer Trust
remains outstanding, (i) no such amendment shall be made that adversely
affects the holders of such Preferred Securities in any material respect, and
no termination of this Indenture shall occur, and no waiver of any Event of
Default or compliance with any covenant under this Indenture shall be
effective, without the prior consent of the holders of a majority of the
aggregate Liquidation Amount of such Preferred Securities then outstanding
unless and until the principal of (and premium, if any, on) the Securities
and all accrued and (subject to Section 3.8) unpaid interest (including any
Additional Interest) thereon have been paid in full, and (ii) no amendment
shall be made to Section 5.8 of this Indenture that would impair the rights
of the holders of Preferred Securities issued by the Issuer Trust provided
therein without the prior consent of the holders of each such Preferred
Security then outstanding unless and until the principal of (and premium, if
any, on) the Securities and all accrued and (subject to Section 3.8) unpaid
interest (including any Additional Interest) thereon have been paid in full.

         It shall not be necessary for any Act of Holders under this Section
to approve the particular form of any proposed supplemental indenture, but it
shall be sufficient if such Act shall approve the substance thereof.

Section 9.3.   Execution of Supplemental Indentures.

         In executing or accepting the additional trusts created by any
supplemental indenture permitted by this Article IX or the modifications
thereby of the trusts created by this Indenture, the Trustee shall be
entitled to receive, and (subject to Section 6.1) shall be fully protected in
relying upon, an Officers' Certificate and an Opinion of Counsel stating that
the execution of such supplemental indenture is authorized or permitted by
this Indenture, and that all conditions precedent herein provided for
relating to such action have been complied with. The Trustee may, but shall
not be obligated to, enter into any such supplemental indenture that affects
the Trustee's own rights, duties or immunities under this Indenture or
otherwise.

Section 9.4.   Effect of Supplemental Indentures.

         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

                                   - 50 -

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all purposes; and every Holder of Securities theretofore or thereafter
authenticated and delivered hereunder shall be bound thereby.

Section 9.5    Conformity with Trust Indenture Act.

         Every supplemental indenture executed pursuant to this Article IX
shall conform to the requirements of the Trust Indenture Act as then in
effect.

Section 9.6.   Reference in Securities to Supplemental Indentures.

         Securities authenticated and delivered after the execution of any
supplemental indenture pursuant to this Article IX may, and shall if required
by the Company, bear a notation in form approved by the Company as to any
matter provided for in such supplemental indenture. If the Company shall so
determine, new Securities so modified as to conform, in the opinion of the
Company, to any such supplemental indenture may be prepared and executed by
the Company and authenticated and delivered by the Trustee in exchange for
Outstanding Securities.

                                    ARTICLE X

                                    COVENANTS

Section 10.1.  Payment of Principal, Premium and Interest.

         The Company covenants and agrees for the benefit of the Securities
that it will duly and punctually pay the principal of (and premium, if any)
and interest (including any Additional Interest) on the Securities in
accordance with the terms of such Securities and this Indenture.

Section 10.2.  Maintenance of Office or Agency.

         (a)   The Company will maintain in each Place of Payment an office or
agency where Securities may be presented or surrendered for payment, where
Securities may be surrendered for registration of transfer or exchange and
where notices and demands to or upon the Company in respect of the Securities
and this Indenture may be served. The Company initially appoints the Trustee,
acting through its Corporate Trust Office, as its agent for said purposes.
The Company will give prompt written notice to the Trustee of any change in
the location of any such office or agency. If at any time the Company shall
fail to maintain such 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 Corporate Trust Office of the Trustee, and the
Company hereby appoints the Trustee as its agent to receive all such
presentations, surrenders, notices and demands.

         (b)   The Company may also from time to time designate one or more
other offices or agencies where the Securities may be presented or
surrendered for any or all of such purposes, and may from time to time
rescind such designations; provided, however, that no such designation or
rescission shall in any manner relieve the Company of its obligation to
maintain an office or agency in each Place of Payment for Securities for such
purposes. The Company will give prompt written notice to the Trustee of any
such designation and any change in the location of any such office or agency.

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Section 10.3.  Money for Security Payments to be Held in Trust.

         (a)   If the Company shall at any time act as its own Paying Agent
with respect to the Securities, it will, on or before each due date of the
principal of (and premium, if any) or interest (including Additional
Interest) on any of the Securities, segregate and hold in trust for the
benefit of the Persons entitled thereto a sum sufficient to pay the principal
(and premium, if any) or interest (including Additional Interest) so becoming
due until such sums shall be paid to such Persons or otherwise disposed of as
herein provided, and will promptly notify the Trustee of its failure so to
act.

         (b)   Whenever the Company shall have one or more Paying Agents, it
will, prior to 10:00 a.m., New York City time, on each due date of the
principal of (or premium, if any) or interest, including Additional Interest
on any Securities, deposit with a Paying Agent a sum sufficient to pay the
principal (and premium, if any) or interest, including Additional Interest so
becoming due, such sum to be held in trust for the benefit of the Persons
entitled to such principal (and premium, if any) or interest, including
Additional Interest, and (unless such Paying Agent is the Trustee) the
Company will promptly notify the Trustee of its failure so to act.

         (c)   The Company will cause each Paying Agent other than the Trustee
to execute and deliver to the Trustee an instrument in which such Paying
Agent shall agree with the Trustee, subject to the provisions of this
Section, that such Paying Agent will:

               (i)     hold all sums held by it for the payment of the
principal of (and premium, if any) or interest (including Additional
Interest) on the Securities in trust for the benefit of the Persons entitled
thereto until such sums shall be paid to such Persons or otherwise disposed
of as herein provided;

               (ii)    give the Trustee notice of any default by the Company
(or any other obligor upon such Securities) in the making of any payment of
principal (and premium, if any) or interest (including Additional Interest)
in respect of any Security;

               (iii)   at any time during the continuance of any default
with respect to the Securities, upon the written request of the Trustee,
forthwith pay to the Trustee all sums so held in trust by such Paying Agent;
and

               (iv)    comply with the provisions of the Trust Indenture Act
applicable to it as a Paying Agent.

         (d)   The Company may, at any time, for the purpose of obtaining the
satisfaction and discharge of this Indenture or for any other purpose, pay,
or by Company Order direct any Paying Agent to pay, to the Trustee all sums
held in trust by the Company or such Paying Agent, such sums to be held by
the Trustee upon the same terms as those upon which such sums were held by
the Company or such Paying Agent; and, upon such payment by any Paying Agent
to the Trustee, such Paying Agent shall be released from all further
liability with respect to such money.

         (e)   Any money deposited with the Trustee or any Paying Agent, or
then held by the Company in trust for the payment of the principal of (and
premium, if any) or interest (including Additional Interest) on any Security
and remaining unclaimed for two years after such principal (and premium, if
any) or interest (including Additional Interest) has become due and payable
shall (unless otherwise required by mandatory provision of applicable escheat
or abandoned or unclaimed property law) be paid on Company Request to the
Company, or (if then held by the Company) shall (unless otherwise required by
mandatory provision of applicable escheat or abandoned or unclaimed property

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law) be discharged from such trust; and the Holder of such Security shall
thereafter, as an unsecured general creditor, look only to the Company for
payment thereof, and all liability of the Trustee or such Paying Agent with
respect to such trust money, and all liability of the Company as trustee
thereof, shall thereupon cease; provided, however, that the Trustee or such
Paying Agent, before being required to make any such repayment, may at the
expense of the Company cause to be published once, in a newspaper published
in the English language, customarily published on each Business Day and of
general circulation in the Borough of Manhattan, the City of New York, notice
that such money remains unclaimed and that, after a date specified therein,
which shall not be less than 30 days from the date of such publication, any
unclaimed balance of such money then remaining will be repaid to the Company.

Section 10.4.  Statement as to Compliance.

         The Company shall 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 covering the preceding calendar year, stating whether
or not to the best knowledge of the signers thereof the Company is in default
in the performance, observance or fulfillment of or compliance with any of
the terms, provisions, covenants and conditions of this Indenture, and if the
Company shall be in default, specifying all such defaults and the nature and
status thereof of which they may have knowledge. For the purpose of this
Section 10.4, compliance shall be determined without regard to any grace
period or requirement of notice provided pursuant to the terms of this
Indenture.

Section 10.5.  Waiver of Certain Covenants.

         Subject to the rights of holders of Preferred Securities specified
in Section 9.2, if any, the Company may omit in any particular instance to
comply with any covenant or condition provided pursuant to Section 3.1,
9.1(c) or 9.1(d) with respect to the Securities, if before or after the time
for such compliance the Holders of a majority in aggregate principal amount
of the Outstanding Securities shall, by Act of such Holders, either waive
such compliance in such instance or generally waive compliance with such
covenant or condition, but no such waiver shall extend to or affect such
covenant or condition except to the extent so expressly waived, and, until
such waiver shall become effective, the obligations of the Company in respect
of any such covenant or condition shall remain in full force and effect.

Section 10.6.  Additional Sums.

         So long as no Event of Default has occurred and is continuing and
except as otherwise specified as contemplated by Section 2.1 or Section 3.1,
if: (a) the Issuer Trust is the Holder of all of the Outstanding Securities,
and (b) a Tax Event described in clause (a) or (c) of the definition of "Tax
Event" in Section 1.1 hereof has occurred and is continuing in respect of the
Issuer Trust, the Company shall pay the Issuer Trust (and its permitted
successors or assigns under the Trust Agreement) for so long as the Issuer
Trust (or its permitted successor or assignee) is the registered holder of
the Outstanding Securities, such additional sums as may be necessary in order
that the amount of Distributions (including any Additional Amount (as defined
in the Trust Agreement)) then due and payable by the Issuer Trust on the
Preferred Securities and Common Securities that at any time remain
outstanding in accordance with the terms thereof shall not be reduced as a
result of such Additional Taxes (the "Additional Sums"). Whenever in this
Indenture or the Securities there is a reference in any context to the
payment of principal of or interest on the Securities, such mention shall be
deemed to include mention of the payments of the Additional Sums provided for
in this paragraph to the extent that, in such context, Additional Sums are,
were or would be payable in respect thereof pursuant to the provisions of
this paragraph and express mention of the payment of Additional Sums (if
applicable) in any provisions hereof shall not be construed as excluding
Additional Sums in those provisions hereof where such

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express mention is not made; provided, however, that the deferral of the
payment of interest pursuant to Section 3.12 or the Securities shall not
defer the payment of any Additional Sums that may be due and payable.

Section 10.7.  Additional Covenants.

         The Company covenants and agrees with each Holder of Securities that
it shall not: (a) make any payment of principal of or interest or premium, if
any, on or repay, repurchase or redeem any debt securities of the Company
that rank pari passu with or junior in interest to the Securities, including
the Company's obligations associated with the Preferred Securities and the
9.875% junior subordinated debentures due 2029 issued by the Company on August
2, 1999, which are currently held by Allegiant Capital Trust I, (b) redeem,
purchase or acquire less than all of the Securities or any of the Preferred
Securities or (c) declare or pay any dividends or distributions on, or
redeem, purchase, acquire or make a liquidation payment with respect to, any
shares of the Company's capital stock, (other than (i) repurchases,
redemptions or other acquisitions of shares of capital stock of the Company
in connection with any employment contract, benefit plan or other similar
arrangement with or for the benefit of any one or more employees, officers,
directors or consultants, or in connection with a dividend reinvestment or
shareholder stock purchase plan, (ii) as a result of a reclassification,
exchange or conversion of any class or series of the Company's capital stock
(or any capital stock of a Subsidiary of the Company) for any class or series
of the Company's capital stock or of any class, (iii) the purchase of
fractional interests in shares of the Company's capital stock pursuant to the
conversion or exchange provisions of such capital stock or the security being
converted or exchanged, (iv) any declaration of a dividend in connection with
any Rights Plan, or the issuance of rights, stock or other property under any
Rights Plan, or the redemption or repurchase of rights pursuant thereto, or
(v) any dividend in the form of stock, warrants, options or other rights
where the dividend stock or the stock issuable upon exercise of such
warrants, options or other rights is the same stock as that on which the
dividend is being paid or ranks pari passu with or junior to such stock), if
at such time (A) there shall have occurred an Event of Default hereunder or
any event (x) of which the Company has actual knowledge that with the giving
of notice or the lapse of time, or both, would constitute an Event of Default
with respect to the Securities, and (y) which the Company shall not have
taken reasonable steps to cure, (B) if the Securities are held by the Issuer
Trust, the Company shall be in default with respect to its payment of any
obligations under the Guarantee relating to the Preferred Securities issued
by the Issuer Trust, or (C) the Company shall have given notice of its
election to begin an Extension Period with respect to the Securities as
provided herein and shall not have rescinded such notice, or such Extension
Period, or any extension thereof, shall be continuing.

         The Company also covenants with each Holder of Securities issued to
the Issuer Trust (a) to hold, directly or indirectly, 100% of the Common
Securities of the Issuer Trust, provided that any permitted successor of the
Company as provided under Section 8.2 may succeed to the Company's ownership
of such Common Securities, (b) as holder of such Common Securities, not to
voluntarily terminate, windup or liquidate the Issuer Trust, other than (i)
in connection with a distribution of the Securities to the holders of the
Preferred Securities in liquidation of the Issuer Trust, or (ii) in
connection with certain mergers, consolidations or amalgamations permitted by
the Trust Agreement, and (c) to use its reasonable efforts, consistent with
the terms and provisions of the Trust Agreement, to cause the Issuer Trust to
continue to be classified as a grantor trust for United States federal income
tax purposes.

Section 10.8.  Federal Tax Reports.

         On or before December 15 of each year during which any Securities
are outstanding, the Company shall furnish to each Paying Agent such
information as may be reasonably requested by each Paying Agent in order that
each Paying Agent may prepare the information which it is required to report

                                     - 54 -

<PAGE>
<PAGE>

for such year on Internal Revenue Service Forms 1096 and 1099 pursuant to
Section 6049 of the Internal Revenue Code of 1986, as amended. Such
information shall include the amount, if any, of original issue discount
includible in income for each authorized minimum denomination of principal
amount at Stated Maturity of outstanding Securities during such year.

                                   ARTICLE XI

                           REDEMPTION OF SECURITIES

Section 11.1.  Applicability of this Article.

         Redemption of Securities as permitted or required by any form of
Security issued pursuant to this Indenture shall be made in accordance with
such form of Security and this Article; provided, however, that, if any
provision of any such form of Security shall conflict with any provision of
this Article XI, the provision of such form of Security shall govern.

Section 11.2.  Election to Redeem; Notice to Trustee.

         The election of the Company to redeem any Securities shall be
evidenced by or pursuant to a Board Resolution. In case of any redemption at
the election of the Company, the Company shall, not less than 30 nor more
than 60 days prior to the Redemption Date (unless a shorter notice shall be
satisfactory to the Trustee), notify the Trustee and, in the case of
Securities held by the Issuer Trust, the Property Trustee under the Trust
Agreement of such date and of the principal amount of Securities to be
redeemed and provide the additional information required to be included in
the notice or notices contemplated by Section 11.4; provided, that, for so
long as such Securities are held by the Issuer Trust, such notice shall be
given not less than 45 nor more than 75 days prior to such Redemption Date
(unless a shorter notice shall be satisfactory to the Property Trustee under
the Trust Agreement). In the case of any redemption of Securities prior to
the expiration of any restriction on such redemption provided in the terms of
such Securities, the Company shall furnish the Trustee with an Officers'
Certificate and an Opinion of Counsel evidencing compliance with such
restriction.

Section 11.3.  Selection of Securities to be Redeemed.

         (a)   If less than all the Securities are to be redeemed, the
particular Securities to be redeemed shall be selected not more than 60 days
prior to the Redemption Date by the Trustee, from the Outstanding Securities
not previously called for redemption, by such method as the Trustee shall
deem fair and appropriate and which may provide for the selection for
redemption of a portion of the principal amount of any Security, provided
that the unredeemed portion of the principal amount of any Security shall be
in an authorized denomination (which shall not be less than the minimum
authorized denomination) for such Security.

         (b)   The Trustee shall promptly notify the Company in writing of the
Securities selected for partial redemption and the principal amount thereof
to be redeemed. For all purposes of this Indenture, unless the context
otherwise requires, all provisions relating to the redemption of Securities
shall relate, in the case of any Security redeemed or to be redeemed only in
part, to the portion of the principal amount of such Security that has been
or is to be redeemed.

                                   - 55 -

<PAGE>
<PAGE>

Section 11.4.  Notice of Redemption.

         Notice of redemption shall be given by first-class mail, postage
prepaid, mailed not later than the thirtieth day, and not earlier than the
sixtieth day, prior to the Redemption Date, to each Holder of Securities to
be redeemed, at the address of such Holder as it appears in the Securities
Register.

         With respect to Securities to be redeemed, each notice of redemption
shall state:

         (a)   the Redemption Date;

         (b)   the Redemption Price or, if the Redemption Price cannot be
calculated prior to the time the notice is required to be sent, the estimate
of the Redemption Price provided pursuant to the Indenture together with a
statement that it is an estimate and that the actual Redemption Price will be
calculated on the third Business Day prior to the Redemption Date (if such an
estimate of the Redemption Price is given, a subsequent notice shall be given
as set forth above setting forth the Redemption Price promptly following the
calculation thereof);

         (c)   if less than all Outstanding Securities are to be redeemed,
the identification (and, in the case of partial redemption, the respective
principal amounts) of the particular Securities to be redeemed;

         (d)   that, on the Redemption Date, the Redemption Price will become
due and payable upon each such Security or portion thereof, and that interest
thereon, if any, shall cease to accrue on and after said date;

         (e)   the place or places where such Securities are to be
surrendered for payment of the Redemption Price;

         (f)   such other provisions as may be required in respect of the
terms of the Securities; and

         (g)   that the redemption is for a sinking fund, if such is the case.

         Notice of redemption of Securities to be redeemed at the election of
the Company shall be given by the Company or, at the Company's request, by
the Trustee in the name and at the expense of the Company and shall be
irrevocable. The notice, if mailed in the manner provided above, shall be
conclusively presumed to have been duly given, whether or not the Holder
receives such notice. In any case, a failure to give such notice by mail or
any defect in the notice to the Holder of any Security designated for
redemption as a whole or in part shall not affect the validity of the
proceedings for the redemption of any other Security.

Section 11.5.  Deposit of Redemption Price.

         Prior to 10:00 a.m., New York City time, on the Redemption Date
specified in the notice of redemption given as provided in Section 11.4, the
Company will deposit with the Trustee or with one or more Paying Agents (or
if the Company is acting as its own Paying Agent, the Company will segregate
and hold in trust as provided in Section 10.3) an amount of money sufficient
to pay the Redemption Price of, and any accrued interest (including
Additional Interest) on, all the Securities (or portions thereof) that are to
be redeemed on that date.

                                   - 56 -

<PAGE>
<PAGE>

Section 11.6.  Payment of Securities Called for Redemption.

         (a)   If any notice of redemption has been given as provided in
Section 11.4, the Securities or portion of Securities with respect to which
such notice has been given shall become due and payable on the date and at
the place or places stated in such notice at the applicable Redemption Price,
together with accrued interest (including any Additional Interest) to the
Redemption Date. On presentation and surrender of such Securities at a Place
of Payment in said notice specified, the said Securities or the specified
portions thereof shall be paid and redeemed by the Company at the applicable
Redemption Price, together with accrued interest (including any Additional
Interest) to the Redemption Date; provided, however, that, installments of
interest (including Additional Interest) whose Stated Maturity is on or prior
to the Redemption Date will be payable to the Holders of such Securities, or
one or more Predecessor Securities, registered as such at the close of
business on the relevant record dates according to their terms and the
provisions of Section 3.8.

         (b)   Upon presentation of any Security redeemed in part only, the
Company shall execute and the Trustee shall authenticate and deliver to the
Holder thereof, at the expense of the Company, a new Security or Securities,
of authorized denominations, in aggregate principal amount equal to the
unredeemed portion of the Security so presented and having the same Original
Issue Date, Stated Maturity and terms.

         (c)   If any Security called for redemption shall not be so paid under
surrender thereof for redemption, the principal of and premium, if any, on
such Security shall, until paid, bear interest from the Redemption Date at
the rate prescribed therefor in the Security.

Section 11.7.  Right of Redemption of Securities Initially Issued to the
Issuer Trust.

         (a)   The Company, at its option, may redeem such Securities, subject
to prior regulatory approval, if required (i) on or after _____ __, 2006, in
whole at any time or in part from time to time, or (ii) upon the occurrence
and during the continuation of a Tax Event, an Investment Company Event or a
Capital Treatment Event, at any time within 180 days following the occurrence
and during the continuation of such Tax Event, Investment Company Event or
Capital Treatment Event, in whole (but not in part), in each case at a
Redemption Price specified in such Security, together with accrued interest
(including Additional Interest) to the Redemption Date.

         (b)   If less than all the Securities are to be redeemed, the
aggregate principal amount of such Securities remaining Outstanding after
giving effect to such redemption shall be sufficient to satisfy any
provisions of the Trust Agreement.

                                   ARTICLE XII

                                  SINKING FUNDS

         Except as may be provided in any supplemental or amended indenture,
no sinking fund shall be established or maintained for the retirement of
Securities.

                                     - 57 -

<PAGE>
<PAGE>

                                  ARTICLE XIII

                           SUBORDINATION OF SECURITIES

Section 13.1.  Securities Subordinate to Senior Indebtedness.

         The Company covenants and agrees, and each Holder of a Security, by
its acceptance thereof, likewise covenants and agrees, that, to the extent
and in the manner hereinafter set forth in this Article, the payment of the
principal of (and premium, if any) and interest (including any Additional
Interest) on each and all of the Securities are hereby expressly made
subordinate and subject in right of payment to the prior payment in full of
all Senior Indebtedness.

Section 13.2.  No Payment When Senior Indebtedness in Default; Payment Over
of Proceeds Upon Dissolution, Etc.

         (a)   If the Company shall default in the payment of any principal of
(or premium, if any) or interest on any Senior Indebtedness when the same
becomes due and payable, whether at maturity or at a date fixed for
prepayment or by declaration of acceleration or otherwise, then, upon written
notice of such default to the Company by the holders of Senior Indebtedness
or any trustee therefor, unless and until such default shall have been cured
or waived or shall have ceased to exist, no direct or indirect payment (in
cash, property, securities, by set-off or otherwise) shall be made or agreed
to be made on account of the principal of (or premium, if any) or interest
(including Additional Interest) on any of the Securities, or in respect of
any redemption, repayment, retirement, purchase or other acquisition of any
of the Securities.

         (b)   In the event of (i) any insolvency, bankruptcy, receivership,
liquidation, reorganization, readjustment, composition or other similar
proceeding relating to the Company, its creditors or its property, (ii) any
proceeding for the liquidation, dissolution or other winding up of the
Company, voluntary or involuntary, whether or not involving insolvency or
bankruptcy proceedings, (iii) any assignment by the Company for the benefit
of creditors or (iv) any other marshalling of the assets of the Company (each
such event, if any, herein sometimes referred to as a "Proceeding"), all
Senior Indebtedness (including any interest thereon accruing after the
commencement of any such proceedings) shall first be paid in full before any
payment or distribution, whether in cash, securities or other property, shall
be made to any Holder on account thereof. Any payment or distribution,
whether in cash, securities or other property (other than securities of the
Company or any other entity provided for by a plan of reorganization or
readjustment, the payment of which is subordinate, at least to the extent
provided in these subordination provisions with respect to the indebtedness
evidenced by the Securities, to the payment of all Senior Indebtedness at the
time outstanding and to any securities issued in respect thereof under any
such plan of reorganization or readjustment), which would otherwise (but for
these subordination provisions) be payable or deliverable in respect of the
Securities shall be paid or delivered directly to the holders of Senior
Indebtedness in accordance with the priorities then existing among such
holders until all Senior Indebtedness (including any interest thereon
accruing after the commencement of any Proceeding) shall have been paid in
full.

         (c)   In the event of any Proceeding, after payment in full of all
sums owing with respect to Senior Indebtedness, the Holders of the
Securities, together with the holders of any obligations of the Company
ranking on a parity with the Securities, including, without limitation, the
9.875% cumulative trust preferred securities and trust common securities
issued by Allegiant Capital Trust I on August 2, 1999, shall be entitled to
be paid from the remaining assets of the Company the amounts at the time due
and owing on account of unpaid principal of (and premium, if any) and
interest on the Securities and

                                     - 58 -

<PAGE>
<PAGE>

such other obligations before any payment or other distribution, whether in
cash, property or otherwise, shall be made on account of any capital stock or
any obligations of the Company ranking junior to the Securities, and such other
obligations. If, notwithstanding the foregoing, any payment or distribution of
any character or any security, whether in cash, securities or other property
(other than securities of the Company or any other entity provided for by a plan
of reorganization or readjustment the payment of which is subordinate, at least
to the extent provided in these subordination provisions with respect to the
indebtedness evidenced by the Securities, to the payment of all Senior
Indebtedness at the time outstanding and to any securities issued in respect
thereof under any plan of reorganization or readjustment), shall be received by
the Trustee or any Holder in contravention of any of the terms hereof and before
all Senior Indebtedness shall have been paid in full, such payment or
distribution or security shall be received in trust for the benefit of, and
shall be paid over or delivered and transferred to, the holders of the Senior
Indebtedness at the time outstanding in accordance with the priorities then
existing among such holders for application to the payment of all Senior
Indebtedness remaining unpaid, to the extent necessary to pay all such Senior
Indebtedness in full. In the event of the failure of the Trustee or any Holder
to endorse or assign any such payment, distribution or security, each holder of
Senior Indebtedness is hereby irrevocably authorized to endorse or assign the
same.

         (d)   The Trustee and the Holders shall take such action (including,
without limitation, the delivery of this Indenture to an agent for the
holders of Senior Indebtedness or consent to the filing of a financing
statement with respect hereto) as may, in the opinion of counsel designated
by the holders of a majority in principal amount of the Senior Indebtedness
at the time outstanding, be necessary or appropriate to assure the
effectiveness of the subordination effected by these provisions.

         (e)   The provisions of this Section 13.2 shall not impair any rights,
interests, remedies or powers of any secured creditor of the Company in
respect of any security interest the creation of which is not prohibited by
the provisions of this Indenture.

         (f)   The securing of any obligations of the Company, otherwise
ranking on a parity with the Securities or ranking junior to the Securities
shall not be deemed to prevent such obligations from constituting,
respectively, obligations ranking on a parity with the Securities or ranking
junior to the Securities.

Section 13.3.  Payment Permitted if No Default.

         Nothing contained in this Article XIII or elsewhere in this
Indenture or in any of the Securities shall prevent (a) the Company, at any
time, except during the pendency of the conditions described in the first
paragraph of Section 13.2 or of any Proceeding referred to in Section 13.2,
from making payments at any time of principal of (and premium, if any) or
interest (including Additional Interest) on the Securities, or (b) the
application by the Trustee of any monies deposited with it hereunder to the
payment of or on account of the principal of (and premium, if any) or
interest (including any Additional Interest) on the Securities or the
retention of such payment by the Holders, if, at the time of such application
by the Trustee, it did not have knowledge that such payment would have been
prohibited by the provisions of this Article.

Section 13.4.  Subrogation to Rights of Holders of Senior Indebtedness.

         Subject to the payment in full of all amounts due or to become due
on all Senior Indebtedness, or the provision for such payment in cash or cash
equivalents or otherwise in a manner satisfactory to the holders of Senior
Indebtedness, the Holders of the Securities shall be subrogated to the extent
of the payments or distributions made to the holders of such Senior
Indebtedness pursuant to the provisions of

                                     - 59 -

<PAGE>
<PAGE>

this Article (equally and ratably with the holders of all indebtedness of the
Company that by its express terms is subordinated to Senior Indebtedness of the
Company to substantially the same extent as the Securities are subordinated to
the Senior Indebtedness and is entitled to like rights of subrogation by reason
of any payments or distributions made to holders of such Senior Indebtedness) to
the rights of the holders of such Senior Indebtedness to receive payments and
distributions of cash, property and securities applicable to the Senior
Indebtedness until the principal of (and premium if any) and interest (including
Additional Interest) on the Securities shall be paid in full. For purposes of
such subrogation, no payments or distributions to the holders of the Senior
Indebtedness of any cash, property or securities to which the Holders of the
Securities or the Trustee would be entitled except for the provisions of this
Article, and no payments pursuant to the provisions of this Article to the
holders of Senior Indebtedness by Holders of the Securities or the Trustee,
shall, as among the Company, its creditors other than holders of Senior
Indebtedness, and the Holders of the Securities, be deemed to be a payment or
distribution by the Company to or on account of the Senior Indebtedness.

Section 13.5.  Provisions Solely to Define Relative Rights.

         The provisions of this Article XIII are and are intended solely for
the purpose of defining the relative rights of the Holders of the Securities
on the one hand and the holders of Senior Indebtedness on the other hand.
Nothing contained in this Article XIII or elsewhere in this Indenture or in
the Securities is intended to or shall (a) impair, as between the Company and
the Holders of the Securities, the obligations of the Company, which are
absolute and unconditional, to pay to the Holders of the Securities the
principal of (and premium, if any) and interest (including any Additional
Interest) on the Securities as and when the same shall become due and payable
in accordance with their terms; (b) affect the relative rights against the
Company of the Holders of the Securities and creditors of the Company other
than their rights in relation to the holders of Senior Indebtedness; or (c)
prevent the Trustee or the Holder of any Security (or to the extent expressly
provided herein, the holder of any Preferred Security) from exercising all
remedies otherwise permitted by applicable law upon default under this
Indenture, including filing voting claims in any Proceeding, subject to the
rights, if any, under this Article XIII of the holders of Senior Indebtedness
to receive cash, property and securities otherwise payable or deliverable to
the Trustee or such Holder.

Section 13.6.  Trustee to Effectuate Subordination.

         Each Holder of a Security by his or her acceptance thereof
authorizes and directs the Trustee on his or her behalf to take such action
as may be necessary or appropriate to acknowledge or effectuate the
subordination provided in this Article XIII and appoints the Trustee his or
her attorney-in-fact for any and all such purposes.

Section 13.7.  No Waiver of Subordination Provisions.

         (a)   No right of any present or future holder of any Senior
Indebtedness to enforce subordination as herein provided shall at any time in
any way be prejudiced or impaired by any act or failure to act on the part of
the Company or by any act or failure to act, in good faith, by any such
holder, or by any noncompliance by the Company with the terms, provisions and
covenants of this Indenture, regardless of any knowledge thereof that any
such holder may have or be otherwise charged with.

         (b)   Without in any way limiting the generality of Section 13.7(a),
the holders of Senior Indebtedness may, at any time and from time to time,
without the consent of or notice to the Trustee or the Holders of the
Securities, without incurring responsibility to such Holders of the
Securities and without impairing or releasing the subordination provided in
this Article XIII or the obligations

                                     - 60 -

<PAGE>
<PAGE>

hereunder of such Holders of the Securities to the holders of Senior
Indebtedness, do any one or more of the following: (i) change the manner, place
or terms of payment or extent the time of payment of, or renew or alter, Senior
Indebtedness, or otherwise amend or supplement in any manner Senior Indebtedness
or any instrument evidencing the same or any agreement under which Senior
Indebtedness is outstanding; (ii) sell, exchange, release or otherwise deal with
any property pledged, mortgaged or otherwise securing Senior Indebtedness; (iii)
release any Person liable in any manner for the collection of Senior
Indebtedness; and (iv) exercise or refrain from exercising any rights against
the Company and any other Person.

Section 13.8.  Notice to Trustee.

         (a)   The Company shall give prompt written notice to a Responsible
Officer of the Trustee of any fact known to the Company that would prohibit
the making of any payment to or by the Trustee in respect of the Securities.
Notwithstanding the provisions of this Article XIII or any other provision of
this Indenture, the Trustee shall not be charged with knowledge of the
existence of any facts that would prohibit the making of any payment to or by
the Trustee in respect of the Securities, unless and until the Trustee shall
have received written notice thereof from the Company or a holder of Senior
Indebtedness or from any trustee, agent or representative therefor; provided,
however, that if the Trustee shall not have received the notice provided for
in this Section at least two Business Days prior to the date upon which by
the terms hereof any monies may become payable for any purpose (including,
the payment of the principal of (and premium, if any, on) or interest
(including any Additional Interest) on any Security), then, anything herein
contained to the contrary notwithstanding, the Trustee shall have full power
and authority to receive such monies and to apply the same to the purpose for
which they were received and shall not be affected by any notice to the
contrary that may be received by it within two Business Days prior to such
date.

         (b)   Subject to the provisions of Section 6.1, the Trustee shall be
entitled to rely on the delivery to it of a written notice by a Person
representing himself or herself to be a holder of Senior Indebtedness (or a
trustee or attorney-in-fact therefor) to establish that such notice has been
given by a holder of Senior Indebtedness (or a trustee or attorney-in-fact
therefor). In the event that the Trustee determines in good faith that
further evidence is required with respect to the right of any Person as a
holder of Senior Indebtedness to participate in any payment or distribution
pursuant to this Article, the Trustee may request such Person to furnish
evidence to the reasonable satisfaction of the Trustee as to the amount of
Senior Indebtedness held by such Person, the extent to which such Person is
entitled to participate in such payment or distribution and any other facts
pertinent to the rights of such Person under this Article, and if such
evidence is not furnished, the Trustee may defer any payment to such Person
pending judicial determination as to the right of such Person to receive such
payment.

Section 13.9.  Reliance on Judicial Order or Certificate of Liquidating Agent.

         Upon any payment or distribution of assets of the Company referred
to in this Article, the Trustee, subject to the provisions of Section 6.1,
and the Holders of the Securities shall be entitled to rely upon any order or
decree entered by any court of competent jurisdiction in which such
Proceeding is pending, or a certificate of the trustee in bankruptcy,
receiver, conservator, liquidating trustee, custodian, assignee for the
benefit of creditors, agent or other Person making such payment or
distribution, delivered to the Trustee or to the Holders of Securities, for
the purpose of ascertaining the Persons entitled to participate in such
payment or distribution, the holders of the Senior Indebtedness and other
indebtedness of the Company, the amount thereof or payable thereon, the
amount or amounts paid or distributed thereon and all other facts pertinent
thereto or to this Article XIII.

                                     - 61 -

<PAGE>
<PAGE>

Section 13.10. Trustee Not Fiduciary for Holders of Senior Indebtedness.

         The Trustee, in its capacity as trustee under this Indenture, shall
not be deemed to owe any fiduciary duty to the holders of Senior Indebtedness
and shall not be liable to any such holders if it shall in good faith
mistakenly pay over or distribute to Holders of Securities or to the Company
or to any other Person cash, property or securities to which any holders of
Senior Indebtedness shall be entitled by virtue of this Article or otherwise.

Section 13.11. Rights of Trustee as Holder of Senior Indebtedness;
Preservation of Trustee's Rights.

         The Trustee in its individual capacity shall be entitled to all the
rights set forth in this Article with respect to any Senior Indebtedness that
may at any time be held by it, to the same extent as any other holder of
Senior Indebtedness, and nothing in this Indenture shall deprive the Trustee
of any of its rights as such holder.

Section 13.12. Article Applicable to Paying Agents.

         In case at any time any Paying Agent other than the Trustee shall
have been appointed by the Company and be then acting hereunder, the term
"Trustee" as used in this Article XIII shall in such case (unless the context
otherwise requires) be construed as extending to and including such Paying
Agent within its meaning as fully for all intents and purposes as if such
Paying Agent were named in this Article in addition to or in place of the
Trustee.

Section 13.13. Certain Conversions or Exchanges Deemed Payment.

         For purposes of this Article only, (a) the issuance and delivery of
junior securities upon conversion or exchange of Securities shall not be
deemed to constitute a payment or distribution on account of the principal of
(or premium, if any, on) or interest (including any Additional Interest) on
such Securities or on account of the purchase or other acquisition of such
Securities, and (b) the payment, issuance or delivery of cash, property or
securities (other than junior securities) upon conversion or exchange of a
Security shall be deemed to constitute payment on account of the principal of
such security. For the purposes of this Section, the term "junior securities"
means (i) shares of any stock of any class of the Company, and (ii)
securities of the Company that are subordinated in right of payment to all
Senior Indebtedness that may be outstanding at the time of issuance or
delivery of such securities to substantially the same extent as, or to a
greater extent than, the Securities are so subordinated as provided in this
Article.

                                     * * * *

         This instrument may be executed in any number of counterparts, each
of which so executed shall be deemed to be an original, but all such
counterparts shall together constitute but one and the same instrument.

                    [SIGNATURES APPEAR ON THE FOLLOWING PAGE]

                                     - 62 -

<PAGE>
<PAGE>

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

                                      ALLEGIANT BANCORP, INC.

                                      By:
                                         --------------------------------------
                                         Shaun R. Hayes
                                         President and Chief Executive Officer

                                      BANKERS TRUST COMPANY, as Trustee

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

                                     - 63 -<PAGE>

                                                                     EXHIBIT 4.8
                                                                     -----------

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

                            AMENDED AND RESTATED

                               TRUST AGREEMENT

                                    Among

                           ALLEGIANT BANCORP, INC.

                               (as Depositor)

                            BANKERS TRUST COMPANY

                            (as Property Trustee)

                          BANKERS TRUST (DELAWARE)

                            (as Delaware Trustee)

                               SHAUN R. HAYES

                             (as Administrator)

                              THOMAS A. DAIBER

                             (as Administrator)

                        dated as of __________, 2001

                         ALLEGIANT CAPITAL TRUST II

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

<PAGE>
<PAGE>

<TABLE>
                                             ALLEGIANT CAPITAL TRUST II

                                Certain Sections of this Trust Agreement relating to
                                          Sections 310 through 318 of the
                                            Trust Indenture Act of 1939:

<CAPTION>
   Trust Indenture                                                                                  Trust Agreement
     Act Section                                                                                       Section
     -----------                                                                                       -------
<S>                                                                                           <C>
Section 310       (a)(1)........................................................................................8.7
                  (a)(2)........................................................................................8.7
                  (a)(3)........................................................................................8.9
                  (a)(4).................................................................................2.7(a)(ii)
                  (b).................................................................................8.8, 10.10(b)
Section 311       (a)................................................................................8.13, 10.10(b)
                  (b)................................................................................8.13, 10.10(b)
Section 312       (a)......................................................................................10.10(b)
                  (b).................................................................................10.10(b), (f)
                  (c)...........................................................................................5.7
Section 313       (a).......................................................................................8.15(a)
                  (a)(4)...................................................................................10.10(c)
                  (b).............................................................................8.15(c), 10.10(c)
                  (c)................................................................................10.8, 10.10(c)
                  (d)......................................................................................10.10(c)
Section 314       (a)................................................................................8.16, 10.10(d)
                  (b)................................................................................Not Applicable
                  (c)(1)........................................................................8.17, 10.10(d), (e)
                  (c)(2)........................................................................8.17, 10.10(d), (e)
                  (c)(3)........................................................................8.17, 10.10(d), (e)
                  (e)................................................................................8.17, 10.10(e)
Section 315       (a)........................................................................................8.1(d)
                  (b)...........................................................................................8.2
                  (c)........................................................................................8.1(c)
                  (d)........................................................................................8.1(d)
                  (e)................................................................................Not Applicable
Section 316       (a)................................................................................Not Applicable
                  (a)(1)(A)..........................................................................Not Applicable
                  (a)(1)(B)..........................................................................Not Applicable
                  (a)(2).............................................................................Not Applicable
                  (b)..........................................................................................5.13
                  (c)...........................................................................................6.7
Section 317       (a)(1).............................................................................Not Applicable
                  (a)(2).......................................................................................8.14
                  (b)..........................................................................................5.10
Section 318       (a)......................................................................................10.10(a)
</TABLE>

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

<PAGE>
<PAGE>

<TABLE>
                                                 TABLE OF CONTENTS

                                                                                                               Page
                                                                                                               ----
<S>                                                                                                             <C>
ARTICLE I         DEFINITIONS.....................................................................................1

         Section 1.1.      Definitions............................................................................1

ARTICLE II        CONTINUATION OF THE ISSUER TRUST...............................................................11

         Section 2.1.      Name..................................................................................11
         Section 2.2.      Office of the Delaware Trustee; Principal Place of Business...........................12
         Section 2.3.      Initial Contribution of Trust Property; Organizational Expenses.......................12
         Section 2.4.      Issuance of the Preferred Securities..................................................12
         Section 2.5.      Issuance of the Common Securities; Subscription and Purchase of Junior
                           Subordinated Debentures...............................................................12
         Section 2.6.      Declaration of Trust..................................................................13
         Section 2.7.      Authorization to Enter into Certain Transactions......................................13
         Section 2.8.      Assets of Trust.......................................................................16
         Section 2.9.      Title to Trust Property...............................................................16

ARTICLE III       PAYMENT ACCOUNT................................................................................17

         Section 3.1.      Payment Account.......................................................................17

ARTICLE IV        DISTRIBUTIONS; REDEMPTION......................................................................17

         Section 4.1.      Distributions.........................................................................17
         Section 4.2.      Redemption............................................................................19
         Section 4.3.      Subordination of Common Securities....................................................20
         Section 4.4.      Payment Procedures....................................................................21
         Section 4.5.      Tax Returns and Reports...............................................................21
         Section 4.6.      Payment of Taxes, Duties, Etc. of the Issuer Trust....................................22
         Section 4.7.      Payments under Indenture or Pursuant to Direct Actions................................22
         Section 4.8.      Liability of the Holder of Common Securities..........................................22

ARTICLE V         TRUST SECURITIES CERTIFICATES..................................................................22

         Section 5.1.      Initial Ownership.....................................................................22
         Section 5.2.      The Trust Securities Certificates.....................................................22
         Section 5.3.      Execution and Delivery of Trust Securities Certificates...............................23
         Section 5.4.      Global Preferred Security.............................................................23
         Section 5.5.      Registration of Transfer and Exchange Generally; Certain Transfers and
                           Exchanges; Preferred Securities Certificates..........................................24
         Section 5.6.      Mutilated, Destroyed, Lost or Stolen Trust Securities Certificates....................25
         Section 5.7.      Persons Deemed Holders................................................................26
         Section 5.8.      Access to List of Holders' Names and Addresses........................................26
         Section 5.9.      Maintenance of Office or Agency.......................................................26

<PAGE>
<PAGE>
         Section 5.10.     Appointment of Paying Agent...........................................................26
         Section 5.11.     Ownership of Common Securities by Depositor...........................................27
         Section 5.12.     Notices to Clearing Agency............................................................27
         Section 5.13.     Rights of Holders.....................................................................27

ARTICLE VI        ACTS OF HOLDERS; MEETINGS; VOTING..............................................................29

         Section 6.1.      Limitations on Holder's Voting Rights.................................................29
         Section 6.2.      Notice of Meetings....................................................................30
         Section 6.3.      Meetings of Holders...................................................................30
         Section 6.4.      Voting Rights.........................................................................30
         Section 6.5.      Proxies, etc..........................................................................30
         Section 6.6.      Holder Action by Written Consent......................................................31
         Section 6.7.      Record Date for Voting and Other Purposes.............................................31
         Section 6.8.      Acts of Holders.......................................................................31
         Section 6.9.      Inspection of Records.................................................................32

ARTICLE VII       REPRESENTATIONS AND WARRANTIES.................................................................32

         Section 7.1.      Representations and Warranties of the Property Trustee and the Delaware Trustee.......32
         Section 7.2.      Representations and Warranties of the Depositor.......................................33

ARTICLE VIII      THE ISSUER TRUSTEES; THE ADMINISTRATORS........................................................33

         Section 8.1.      Certain Duties and Responsibilities...................................................33
         Section 8.2.      Certain Notices.......................................................................36
         Section 8.3.      Certain Rights of Property Trustee....................................................36
         Section 8.4.      Not Responsible for Recitals or Issuance of Securities................................37
         Section 8.5.      May Hold Securities...................................................................37
         Section 8.6.      Compensation; Indemnity; Fees.........................................................37
         Section 8.7.      Corporate Property Trustee Required; Eligibility of Trustees and Administrators.......38
         Section 8.8.      Conflicting Interests.................................................................39
         Section 8.9.      Co-Trustees and Separate Trustee......................................................39
         Section 8.10.     Resignation and Removal; Appointment of Successor.....................................40
         Section 8.11.     Acceptance of Appointment by Successor................................................41
         Section 8.12.     Merger, Conversion, Consolidation or Succession to Business...........................42
         Section 8.13.     Preferential Collection of Claims Against Depositor or Issuer Trust...................42
         Section 8.14.     Trustee May File Proofs of Claim......................................................42
         Section 8.15.     Reports by Property Trustee...........................................................43
         Section 8.16.     Reports to the Property Trustee.......................................................43
         Section 8.17.     Evidence of Compliance with Conditions Precedent......................................43
         Section 8.18.     Number of Issuer Trustees.............................................................43
         Section 8.19.     Delegation of Power...................................................................44
         Section 8.20.     Appointment of Administrators.........................................................44

<PAGE>
<PAGE>

ARTICLE IX        DISSOLUTION, LIQUIDATION AND MERGER............................................................45

         Section 9.1.      Dissolution Upon Expiration Date......................................................45
         Section 9.2.      Early Dissolution.....................................................................45
         Section 9.3.      Termination...........................................................................45
         Section 9.4.      Liquidation...........................................................................45
         Section 9.5.      Mergers, Consolidations, Amalgamations or Replacements of the Issuer Trust............47
         Section 9.6.      Listing of the Junior Subordinated Debentures.........................................47

ARTICLE X         MISCELLANEOUS PROVISIONS.......................................................................48

         Section 10.1.     Limitation of Rights of Holders.......................................................48
         Section 10.2.     Amendment.............................................................................48
         Section 10.3.     Separability..........................................................................49
         Section 10.4.     Governing Law.........................................................................49
         Section 10.5.     Payments Due on Non-Business Day......................................................49
         Section 10.6.     Successors and Assigns................................................................49
         Section 10.7.     Headings..............................................................................50
         Section 10.8.     Reports, Notices and Demands..........................................................50
         Section 10.9.     Agreement Not to Petition.............................................................50
         Section 10.10.    Trust Indenture Act; Conflict with Trust Indenture Act................................51
         Section 10.11.    Acceptance of Terms of Trust Agreement, Guarantee and Indenture.......................52
         Section 10.12.    Counterparts..........................................................................52

                                  EXHIBITS

Exhibit A         Certificate of Trust
Exhibit B         Form of Certificate Depositary Agreement
Exhibit C         Form of Common Securities Certificate
Exhibit D         Form of Preferred Securities Certificate
</TABLE>

<PAGE>
<PAGE>

                    AMENDED AND RESTATED TRUST AGREEMENT
                    ------------------------------------

         THIS AMENDED AND RESTATED TRUST AGREEMENT, dated as of ___________
__, 2001 (this "Trust Agreement"), is among (a) ALLEGIANT BANCORP, INC., a
Missouri corporation (including any successors or assigns, the "Depositor"),
(b) BANKERS TRUST COMPANY, a New York banking corporation, as property
trustee (in such capacity, the "Property Trustee" and, in its separate
corporate capacity and not in its capacity as Property Trustee, the "Bank"),
(c) BANKERS TRUST (DELAWARE), a Delaware banking corporation, as Delaware
trustee (the "Delaware Trustee") (the Property Trustee and the Delaware
Trustee are referred to collectively herein as the "Issuer Trustees"); (d)
SHAUN R. HAYES, an individual, and THOMAS A. DAIBER, an individual, each of
whose address is c/o the Depositor (each an "Administrator" and,
collectively, the "Administrators" and together with the Issuer Trustees,
the "Trustees"); and (e) the several Holders, as hereinafter defined.

                                  RECITALS

         WHEREAS, the Depositor and certain of the Trustees have heretofore
duly declared and established a business trust pursuant to the Delaware
Business Trust Act by the entering into a certain Declaration of Trust,
dated as of June 8, 2001 (the "Original Trust Agreement"), and by the
execution and filing by the Delaware Trustee with the Secretary of State of
the State of Delaware of the Certificate of Trust, filed on June 8, 2001
(the "Certificate of Trust"), a copy of which is attached hereto as Exhibit A;
                                                                    ---------
and

         WHEREAS, the Depositor and the Delaware Trustee desire to amend and
restate the Original Trust Agreement in its entirety as set forth herein to
provide for, among other things, (a) the issuance of the Common Securities
by the Issuer Trust to the Depositor, (b) the issuance and sale of the
Preferred Securities by the Issuer Trust pursuant to the Underwriting
Agreement, (c) the acquisition by the Issuer Trust from the Depositor of all
of the right, title and interest in the Junior Subordinated Debentures and
(d) the appointment of the Property Trustee and the Administrators.

         NOW THEREFORE, in consideration of the agreements and obligations
set forth herein and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, each party, for the
benefit of the other parties and for the benefit of the Holders, hereby
amends and restates the Original Trust Agreement in its entirety and agrees,
intending to be legally bound, as follows:

                                  ARTICLE I
                                  ---------

                                 DEFINITIONS
                                 -----------

         Section 1.1.      Definitions. For all purposes of this Trust
                           -----------
Agreement, except as otherwise expressly provided or unless the context
otherwise requires:

         (a)      the terms defined in this Article I have the meanings
assigned to them in this Article and include the plural as well as the
singular;

         (b)      all other terms used herein that are defined in the Trust
Indenture Act, either directly or by reference therein, have the meanings
assigned to them therein;

<PAGE>
<PAGE>

         (c)      the words "include," "includes" and "including" shall be
deemed to be followed by the phrase "without limitation";

         (d)      all accounting terms used but not defined herein have the
meanings assigned to them in accordance with United States generally
accepted accounting principles as in effect at the time of computation;

         (e)      unless the context otherwise requires, any reference to an
"Article" or a "Section" refers to an Article or a Section, as the case may
be, of this Trust Agreement;

         (f)      the words "herein," "hereof" and "hereunder" and other
words of similar import refer to this Trust Agreement as a whole and not to
any particular Article, Section or other subdivision; and

         (g)      all references to the date the Preferred Securities were
originally issued shall refer to the date the ____% Preferred Securities
were originally issued.

         "25% Capital Limitation" means the limitation imposed by the
Federal Reserve that the proceeds of certain qualifying securities similar
to the Trust Securities will qualify as Tier 1 capital of the Depositor up
to an amount not to exceed, when taken together with all cumulative
preferred stock of the Depositor, if any, 25% of the Depositor's Tier 1
capital, and any subsequent or successor limitation adopted by the Federal
Reserve.

         "Act" has the meaning specified in Section 6.8.

         "Additional Amount" means, with respect to Trust Securities of a
given Liquidation Amount and/or for a given period, the amount of Additional
Interest paid by the Depositor on a Like Amount of Junior Subordinated
Debentures for such period.

         "Additional Interest" has the meaning specified in Section 1.1 of
the Indenture.

         "Additional Sums" has the meaning specified in Section 10.6 of the
Indenture.

         "Administrators" means each Person appointed in accordance with
Section 8.20 solely in such Person's capacity as Administrator of the Issuer
Trust heretofore formed and continued hereunder and not in such Person's
individual capacity, or any successor Administrator appointed as herein
provided; with the initial Administrators being Shaun R. Hayes and Thomas A.
Daiber.

         "Affiliate" of any specified Person means any other Person directly
or indirectly controlling or controlled by or under direct or indirect
common control with such specified Person. For the purposes of this
definition, "control" when used with respect to any specified Person means
the power to direct the management and policies of such Person, directly or
indirectly, whether through the ownership of voting securities, by contract
or otherwise; and the terms "controlling" and "controlled" have meanings
correlative to the foregoing.

         "Applicable Procedures" means, with respect to any transfer or
transaction involving a Global Preferred Security or beneficial interest
therein, the rules and procedures of the Depositary for such Preferred
Security, in each case to the extent applicable to such transaction and as
in effect from time to time.

                                     2

<PAGE>
<PAGE>

         "Bank" has the meaning specified in the preamble to this Trust
Agreement.

         "Bankruptcy Event" means, with respect to any Person:

         (a)      the entry of a decree or order by a court having
jurisdiction in the premises judging such Person a bankrupt or insolvent, or
approving as properly filed a petition seeking reorganization, arrangement,
adjudication or composition of or in respect of such Person under any
applicable federal or state bankruptcy, insolvency, reorganization or other
similar law, or appointing a receiver, liquidator, assignee, trustee,
sequestrator (or other similar official) of such Person or of any
substantial part of its property or ordering the winding up or liquidation
of its affairs, and the continuance of any such decree or order unstayed and
in effect for a period of 60 consecutive days; or

         (b)      the institution by such Person of proceedings to be
adjudicated a bankrupt or insolvent, or the consent by it to the institution
of bankruptcy or insolvency proceedings against it, or the filing by it of a
petition or answer or consent seeking reorganization or relief under any
applicable federal or state bankruptcy, insolvency, reorganization or other
similar law, or the consent by it to the filing of any such petition or to
the appointment of a receiver, liquidator, assignee, trustee, sequestrator
(or similar official) of such Person or of any substantial part of its
property or the making by it of an assignment for the benefit of creditors,
or the admission by it in writing of its inability to pay its debts
generally as they become due and its willingness to be adjudicated a
bankrupt, or the taking of corporate action by such Person in furtherance of
any such action.

         "Bankruptcy Laws" has the meaning specified in Section 10.9.

         "Board of Directors" means the board of directors of the Depositor
or the Executive Committee of the board of directors of the Depositor (or
any other committee of the board of directors of the Depositor performing
similar functions) or, for purposes of this Trust Agreement, a committee
designated by the board of directors of the Depositor (or any such
committee), comprised of two or more members of the board of directors of
the Depositor or officers of the Depositor, or both.

         "Board Resolution" means a copy of a resolution certified by the
Secretary or an Assistant Secretary of the Depositor to have been duly
adopted by the Depositor's Board of Directors, or such committee of the
Board of Directors or officers of the Depositor to which authority to act on
behalf of the Board of Directors has been delegated, and to be in full force
and effect on the date of such certification, and delivered to the Issuer
Trustees.

         "Business Day" means a day other than (a) a Saturday or Sunday, (b)
a day on which banking institutions in the State of Missouri or in the City
of New York are authorized or required by law or executive order to remain
closed or (c) a day on which the Property Trustee's Corporate Trust Office
or the Delaware Trustee's Corporate Trust Office or the Corporate Trust
Office of the Debenture Trustee is closed for business.

         "Capital Treatment Event" means the receipt by the Depositor and
the Issuer Trust of the Opinion of Counsel, rendered by counsel experienced
in such matters, that, as a result of the occurrence of any amendment to, or
change (including any announced prospective change) in, the laws (or any
rules or regulations thereunder) of the United States or any political
subdivision thereof or therein, or as a result of any official or
administrative pronouncement or action or judicial decision interpreting or
applying such laws or regulations, which amendment or change is effective or
such pronouncement, action or decision is announced on or after the date of
the issuance of the Preferred Securities of the

                                     3

<PAGE>
<PAGE>

Issuer Trust, there is more than an insubstantial risk that the Depositor
will not be entitled to treat an amount equal to the Liquidation Amount of
such Preferred Securities as "Tier 1 Capital" (or the then equivalent
thereof), except as otherwise restricted under the 25% Capital Limitation,
for purposes of the risk-based capital adequacy guidelines of the Federal
Reserve, as then in effect and applicable to the Depositor; provided, that
the Depositor or the Issuer Trust shall have requested and received such an
Opinion of Counsel with regard to such matters within a reasonable period of
time after the Depositor or the Issuer Trust, as appropriate, shall have
become aware of the possible occurrence of any such event.

         "Cede" means Cede & Co.

         "Certificate Depositary Agreement" means the agreement among the
Issuer Trust, the Depositor and the Depositary, as the initial Clearing
Agency, dated as of the Closing Date, substantially in the form attached
hereto as Exhibit B, as the same may be amended and supplemented from time
          ---------
to time.

         "Certificate of Trust" has the meaning specified in the preamble to
this Trust Agreement.

         "Clearing Agency" means an organization registered as a "clearing
agency" pursuant to Section 17A of the Exchange Act. The Depositary shall be
the initial Clearing Agency.

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

         "Closing Date" means the Time of Delivery for the Firm Securities,
which date is also the date of execution and delivery of this Trust
Agreement.

         "Code" means the Internal Revenue Code of 1986, as amended or any
successor statute, in each case as amended from time to time.

         "Commission" means the Securities and Exchange Commission, as from
time to time constituted, created under the Exchange Act or, if at any time
after the execution of this instrument such Commission is not existing and
performing the duties now assigned to it under the Trust Indenture Act, then
the body performing such duties at such time.

         "Common Securities Certificate" means a certificate evidencing
ownership of Common Securities, substantially in the form attached hereto as
Exhibit C.
---------

         "Common Security" means an undivided beneficial interest in the
assets of the Issuer Trust, having a Liquidation Amount of $25 and having
the rights provided therefor in this Trust Agreement, including the right to
receive Distributions and a Liquidation Distribution as provided herein.

         "Corporate Trust Office" means (a) with respect to the Property
Trustee or the Debenture Trustee, the principal office of the Property
Trustee located in the City of New York, New York, which at the time of the
execution of this Trust Agreement is located at Four Albany Street, 4th
Floor, New York, New York 10006; Attention: Corporate Trust and Agency
Services, and (b) with respect to the Delaware Trustee, the principal office
of the Delaware Trustee located at E.A. Delle Donne Corporate Center,
Montgomery Building, 1101 Centre Road, Suite 200, Wilmington, Delaware,
19805-1266.

         "Date of Delivery" shall have the meaning provided in the
Underwriting Agreement.

         "Debenture Event of Default" means an "Event of Default" as defined
in the Indenture.

                                     4

<PAGE>
<PAGE>

         "Debenture Redemption Date" means, with respect to any Junior
Subordinated Debentures to be redeemed under the Indenture, the date fixed
for redemption of such Junior Subordinated Debentures under the Indenture.

         "Debenture Trustee" means Bankers Trust Company, a New York banking
corporation and any successor, as trustee under the Indenture.

         "Delaware Business Trust Act" means Chapter 38 of Title 12 of the
Delaware Code, 12 Del. C. 3801, et seq., as it may be amended from time to
                                -------
time.

         "Delaware Trustee" means the corporation identified as the
"Delaware Trustee" in the preamble to this Trust Agreement solely in its
capacity as Delaware Trustee of the Issuer Trust continued hereunder and not
in its individual capacity, or its successor in interest in such capacity,
or any successor trustee appointed as herein provided.

         "Depositary" means The Depository Trust Company or any successor
thereto.

         "Depositor" has the meaning specified in the preamble to this Trust
Agreement.

         "Direct Action" has the meaning specified in Section 5.13(c).

         "Distribution Date" has the meaning specified in Section 4.1(a)(i).

         "Distributions" means amounts payable in respect of the Trust
Securities as provided in Section 4.1.

         "Early Termination Event" has the meaning specified in Section 9.2.

         "Event of Default" means any one of the following events (whatever
the reason for such Event of Default and whether it shall be voluntary or
involuntary or be 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):

         (a)      the occurrence of a Debenture Event of Default;

         (b)      default by the Issuer Trust in the payment of any
Distribution when it becomes due and payable, and continuation of such
default for a period of 30 days;

         (c)      default by the Issuer Trust in the payment of any Redemption
Price of any Trust Security when it becomes due and payable;

         (d)      default in the performance, or breach, in any material
respect, of any covenant or warranty of the Trustees in, this Trust
Agreement (other than a covenant or warranty a default in the performance of
which or the breach of which is dealt with in clause (b) or (c) above) and
continuation of such default or breach for a period of 60 days after there
has been given, by registered or certified mail, to the Issuer Trustees and
the Depositor by the Holders of at least 25% in aggregate Liquidation Amount
of the Outstanding Preferred Securities, a written notice specifying such
default or breach and requiring it to be remedied and stating that such
notice is a "Notice of Default" hereunder; or

                                     5

<PAGE>
<PAGE>

         (e)      the occurrence of any Bankruptcy Event with respect to the
Property Trustee or all or substantially all of its property if a successor
Property Trustee has not been appointed within a period of 60 days thereof.

         "Exchange Act" shall mean the Securities Exchange Act of 1934, as
amended, and any successor statute thereto, in each case as amended from
time to time.

         "Expiration Date" has the meaning specified in Section 9.1.

         "Extension Period" has the meaning specified in Section 4.1(a)(iii).

         "Federal Reserve" means the Board of Governors of the Federal
Reserve System.

         "Firm Securities" means an aggregate Liquidation Amount of
$30,000,000 of the Issuer Trust's _____% cumulative preferred securities.

         "Global Preferred Securities Certificate" means a Preferred
Securities Certificate evidencing ownership of Global Preferred Securities.

         "Global Preferred Security" means a Preferred Security, the
ownership and transfers of which shall be made through book entries by a
Clearing Agency as described in Section 5.4.

         "Guarantee Agreement" means the Guarantee Agreement executed and
delivered by the Depositor and Bankers Trust Company, as guarantee trustee,
contemporaneously with the execution and delivery of this Trust Agreement,
for the benefit of the Holders of the Preferred Securities, as amended from
time to time.

         "Holder" means a Person in whose name a Trust Security or Trust
Securities is registered in the Securities Register; any such Person shall
be a beneficial owner within the meaning of the Delaware Business Trust Act.

         "Indemnified Person" has the meaning specified in Section 8.6(c).

         "Indenture" means the Junior Subordinated Indenture, dated as of
_____ __, 2001, between the Depositor and the Debenture Trustee (as amended
or supplemented from time to time) relating to the issuance of the Junior
Subordinated Debentures.

         "Investment Company Act" means the Investment Company Act of 1940,
as amended, and any successor statute, in each case as amended from time to
time.

         "Investment Company Event" means the receipt by the Depositor and
the Issuer Trust of an Opinion of Counsel, rendered by counsel experienced
in such matters, to the effect that, as a result of the occurrence of a
change in law or regulation or a written change in interpretation or
application of law or regulation by any legislative body, court,
governmental agency or regulatory authority, the Issuer Trust is considered
an "investment company" that is required to be registered under the
Investment Company Act, which change becomes effective on or after the date
of the issuance of the Preferred Securities; provided, however, that the
Depositor or the Issuer Trust shall have requested and received an Opinion
of

                                     6

<PAGE>
<PAGE>

Counsel with regards to such matters within a reasonable period of time
after the Depositor or the Issuer Trust, as appropriate, shall have become
aware of the possible occurrence of any such event.

         "Issuer Trust" means Allegiant Capital Trust II.

         "Issuer Trustees" means, collectively, the Property Trustee and the
Delaware Trustee.

         "Junior Subordinated Debentures" means the aggregate principal
amount of the Depositor's _____% junior subordinated deferrable interest
debentures, due _____ __, 2031 which date may be shortened once at any time
by the Depositor to any date not earlier than _____ __, 2006, issued
pursuant to the Indenture.

         "Lien" means any lien, pledge, charge, encumbrance, mortgage, deed
of trust, adverse ownership interest, hypothecation, assignment, security
interest or preference, priority or other security agreement or preferential
arrangement of any kind or nature whatsoever.

         "Like Amount" means (a) with respect to a redemption of Trust
Securities, Trust Securities having a Liquidation Amount equal to that
portion of the principal amount of Junior Subordinated Debentures to be
contemporaneously redeemed in accordance with the Indenture, allocated to
the Common Securities and to the Preferred Securities based upon the
relative Liquidation Amounts of such classes and (b) with respect to a
distribution of Junior Subordinated Debentures to Holders of Trust
Securities in connection with a dissolution or liquidation of the Issuer
Trust, Junior Subordinated Debentures having a principal amount equal to the
Liquidation Amount of the Trust Securities of the Holder to whom such Junior
Subordinated Debentures are distributed; provided, in the case of clause (b)
that each Junior Subordinated Debenture so distributed shall carry accrued
and unpaid interest in an amount equal to the amount of accrued and unpaid
interest then due on such Junior Subordinated Debentures.

         "Liquidation Amount" means the stated amount of $25 per Trust Security.

         "Liquidation Date" means the date on which Junior Subordinated
Debentures or the Liquidation Distributions are to be distributed to Holders
of Trust Securities in connection with a dissolution and liquidation of the
Issuer Trust pursuant to Section 9.4.

         "Liquidation Distribution" has the meaning specified in Section 9.4(d).

         "Majority in Liquidation Amount of the Preferred Securities" or
"Majority in Liquidation Amount of the Common Securities" means, except as
provided by the Trust Indenture Act, Preferred Securities or Common
Securities, as the case may be, representing more than 50% of the aggregate
Liquidation Amount of all then Outstanding Preferred Securities or Common
Securities, as the case may be.

         "Officers' Certificate" means, a certificate signed by the Chairman
of the Board, Chief Executive Officer, President or any Vice President and
by the Chief Financial Officer, the Treasurer, an Associate Treasurer, an
Assistant Treasurer, the Secretary or an Assistant Secretary, of the
Depositor, and delivered to the appropriate Issuer Trustee. Any Officers'
Certificate delivered with respect to compliance with a condition or
covenant provided for in this Trust Agreement shall include:

                                     7

<PAGE>
<PAGE>

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

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

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

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

         "Opinion of Counsel" means a written opinion of independent outside
counsel for the Issuer Trust or the Depositor.

         "Option Securities" means an aggregate Liquidation Amount of up to
$4,500,000 of the Issuer Trust's _____% cumulative preferred securities,
issuable at any time and from time to time to the Underwriters at their
option, exercisable within 30 days after the date of the Prospectus, solely
to cover over-allotments, if any.

         "Option Preferred Securities Certificate" means the certificate
evidencing ownership of Preferred Securities issued if the Underwriters
exercise their option described in Section 2.4, which certificate shall be
substantially in the form attached hereto as Exhibit D.
                                             ---------

         "Original Trust Agreement" has the meaning specified in the
preamble to this Trust Agreement.

         "Outstanding," with respect to Trust Securities, means, as of the
date of determination, all Trust Securities theretofore executed and
delivered under this Trust Agreement, except:

         (a)      Trust Securities theretofore canceled by the Property Trustee
or delivered to the Property Trustee for cancellation;

         (b)      Trust Securities for whose payment or redemption money in
the necessary amount has been theretofore deposited with the Property
Trustee or any Paying Agent for the Holders of such Preferred Securities,
provided that if such Trust Securities are to be redeemed, notice of such
redemption has been duly given pursuant to this Trust Agreement; and

         (c)      Trust Securities which have been paid or in exchange for
or in lieu of which other Trust Securities have been executed and delivered
pursuant to Sections 5.4, 5.5, and 5.6; provided, however, that in
determining whether the Holders of the requisite Liquidation Amount of the
Outstanding Preferred Securities have given any request, demand,
authorization, direction, notice, consent or waiver hereunder, Preferred
Securities owned by the Depositor, any Issuer Trustee, any Administrator or
any Affiliate of the Depositor or any Issuer Trustee shall be disregarded
and deemed not to be Outstanding, except that (i) in determining whether any
Issuer Trustee shall be protected in relying upon any such request, demand,
authorization, direction, notice, consent or waiver, only Preferred
Securities that such Issuer Trustee or such Administrator, as the case may
be, knows to be so owned shall be so disregarded

                                     8

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<PAGE>

and (ii) the foregoing shall not apply at any time when all of the
outstanding Preferred Securities are owned by the Depositor, one or more of
the Issuer Trustees, one or more of the Administrators and/or any such
Affiliate. Preferred Securities so owned which have been pledged in good
faith may be regarded as Outstanding if the pledgee establishes to the
satisfaction of the Administrators the pledgee's right so to act with
respect to such Preferred Securities and that the pledgee is not the
Depositor or any Affiliate of the Depositor.

         "Owner" means each Person who is the beneficial owner of Global
Preferred Securities as reflected in the records of the Clearing Agency or,
if a Clearing Agency Participant is not the Owner, then as reflected in the
records of a Person maintaining an account with such Clearing Agency,
directly or indirectly, in accordance with the rules of such Clearing
Agency.

         "Paying Agent" means any paying agent or co-paying agent appointed
pursuant to Section 5.10 and shall initially be the Property Trustee.

         "Payment Account" means a segregated non-interest-bearing corporate
trust account maintained by the Property Trustee in its trust department for
the benefit of the Holders in which all amounts paid in respect of the
Junior Subordinated Debentures will be held and from which the Property
Trustee, through the Paying Agent, shall make payments to the Holders in
accordance with Sections 4.1 and 4.2.

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

         "Preferred Securities Certificate" means a certificate evidencing
ownership of Preferred Securities, substantially in the form attached hereto
as Exhibit D.
   ---------

         "Preferred Security" means a Firm Security or an Option Security,
each constituting a preferred undivided beneficial interest in the assets of
the Issuer Trust, having a Liquidation Amount of $25 and having the rights
provided therefor in this Trust Agreement, including the right to receive
Distributions and a Liquidation Distribution as provided herein.

         "Property Trustee" means the Person identified as the "Property
Trustee" in the preamble to this Trust Agreement solely in its capacity as
Property Trustee of the Issuer Trust continued hereunder and not in its
individual capacity, or its successor in interest in such capacity, or any
successor property trustee appointed as herein provided.

         "Prospectus" means the final prospectus covering the Preferred
Securities, Junior Subordinated Debentures and the Guarantee Agreement.

         "Redemption Date" means, with respect to any Trust Security to be
redeemed, the date fixed for such redemption by or pursuant to this Trust
Agreement; provided that each Junior Subordinated Debenture Redemption Date
and the stated maturity of the Junior Subordinated Debentures shall be a
Redemption Date for a Like Amount of Trust Securities, including, but not
limited to, any date of redemption pursuant to the occurrence of any Special
Event.

         "Redemption Price" means with respect to a redemption of any Trust
Security, the Liquidation Amount of such Trust Security, together with
accumulated but unpaid Distributions to but excluding the

                                     9

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<PAGE>

date fixed for redemption, plus the related amount of the premium, if any,
paid by the Depositor upon the concurrent redemption of a Like Amount of
Junior Subordinated Debentures.

         "Relevant Trustee" has the meaning specified in Section 8.10.

         "Responsible Officer" when used with respect to the Property
Trustee means any officer assigned to the Corporate Trust Office, including
any managing director, director, vice president, assistant vice president,
associate vice president or any other officer of the Property Trustee
customarily performing functions similar to those performed by any of the
above designated officers and having direct responsibility for the
administration of the Indenture, and also, with respect to a particular
matter, any other officer to whom such matter is referred because of such
officer's knowledge of and familiarity with the particular subject.

         "Rights Plan" means any plan of the Depositor providing for the
issuance by the Depositor to all holders of its common stock, entitling the
holders thereof to subscribe for or purchase shares of any class or series
of capital stock of the Depositor which rights (a) are deemed to be
transferred with such shares of such common stock, (b) are not exercisable,
and (c) are also issued in respect of future issuances of such common stock,
in each case until the occurrence of a specified event or events.

         "Securities Act" means the Securities Act of 1933, as amended, and
any successor statute thereto, in each case as amended from time to time.

         "Securities Register" and "Securities Registrar" have the
respective meanings specified in Section 5.5.

         "Special Event" means any Tax Event, Capital Treatment Event or
Investment Company Event.

         "Successor Securities Certificate" of any particular Preferred
Securities Certificate means every Preferred Securities Certificate issued
after, and evidencing all or a portion of the same beneficial interest in
the Issuer Trust as that evidenced by, such particular Preferred Securities
Certificate; and, for the purposes of this definition, any Preferred
Securities Certificate executed and delivered under Section 5.6 in exchange
for or in lieu of a mutilated, destroyed, lost or stolen Preferred
Securities Certificate shall be deemed to evidence the same beneficial
interest in the Issuer Trust as the mutilated, destroyed, lost or stolen
Preferred Securities Certificate.

         "Successor Security" has the meaning specified in Section 9.5.

         "Tax Event" means the receipt by the Depositor and the Issuer Trust
of an Opinion of Counsel experienced in such matters to the effect that, as
a result of any amendment to, or change (including any announced prospective
change) in, the laws (or any regulations thereunder) of the United States or
any political subdivision or taxing authority thereof or therein, or as a
result of any official or administrative pronouncement or action or judicial
decision interpreting or applying such laws or regulations, which amendment
or change is effective or which pronouncement, action or decision is
announced on or after the date of issuance of the Preferred Securities,
there is more than an insubstantial risk that (a) the Issuer Trust is, or
will be within 90 days of the delivery of such Opinion of Counsel, subject
to United States federal income tax with respect to income received or
accrued on the Junior Subordinated Debentures, (b) interest payable by the
Depositor on the Junior Subordinated Debentures is not, or within 90 days of
the delivery of such Opinion of Counsel will not be, deductible by the
Depositor, in whole or in part, for United States federal income tax
purposes, or (c) the Issuer Trust is, or will be within 90 days of the

                                     10

<PAGE>
<PAGE>

delivery of such Opinion of Counsel, subject to more than a de minimis
amount of other taxes, duties or other governmental charges; provided,
however, that the Depositor or the Issuer Trust shall have received an
Opinion of Counsel with regard to such matters within a reasonable period of
time after the Depositor or the Issuer Trust, as appropriate, shall have
become aware of the possible occurrence of any such event.

         "Time of Delivery" means 8:30 a.m. Central Time, either (a) with
respect to the Firm Securities or the Common Securities, on the third
Business Day (unless postponed in accordance with the provisions of Section
10 of the Underwriting Agreement), or, if pricing occurs after 4:30 p.m.
(Eastern Time) on any given day, the fourth business day following the date
of execution of the Underwriting Agreement, or such other time as shall be
agreed upon by the Underwriters, the Issuer Trust and the Depositor, or (b)
with respect to the Option Securities, the applicable Date of Delivery.

         "Trust Agreement" means this Amended and Restated Trust Agreement,
as the same may be modified, amended or supplemented in accordance with the
applicable provisions hereof, including (a) all Exhibits hereto, and (b) for
all purposes of this Amended and Restated Trust Agreement and any such
modification, amendment or supplement, the provisions of the Trust Indenture
Act that are deemed to be a part of and govern this Amended and Restated
Trust Agreement and any modification, amendment or supplement, respectively.

         "Trust Indenture Act" means the Trust Indenture Act of 1939, as
amended by the Trust Indenture Reform Act of 1990, or any successor statute,
in each case as amended from time to time.

         "Trust Property" means (a) the Junior Subordinated Debentures, (b)
any cash on deposit in, or owing to, the Payment Account, and (c) all
proceeds and rights in respect of the foregoing and any other property and
assets for the time being held or deemed to be held by the Property Trustee
pursuant to the trusts of this Trust Agreement.

         "Trust Securities Certificate" means any one of the Common
Securities Certificates or the Preferred Securities Certificates.

         "Trust Security" means any one of the Common Securities or the
Preferred Securities.

         "Underwriters" has the meaning specified in the Underwriting
Agreement.

         "Underwriting Agreement" means the Underwriting Agreement, dated
September __, 2001, among the Issuer Trust, the Depositor and the
Underwriters, as the same may be amended from time to time.

                                 ARTICLE II
                                 ----------

                      CONTINUATION OF THE ISSUER TRUST

         Section 2.1.      Name. The Issuer Trust continued hereby shall be
                           ----
known as "Allegiant Capital Trust II," as such name may be modified from
time to time by the Administrators following written notice to the Holders
of Trust Securities and the other Issuer Trustees, in which name the
Administrators and the Issuer Trustees may engage in the transactions
contemplated hereby, make and execute contracts and other instruments on
behalf of the Issuer Trust and sue and be sued.

                                     11

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         Section 2.2.      Office of the Delaware Trustee; Principal Place of
                           --------------------------------------------------
Business. The address of the Delaware Trustee in the State of Delaware is
--------
Bankers Trust (Delaware), E.A. Delle Donne Corporate Center, Montgomery
Building, 1101 Centre Road, Suite 200, Wilmington, Delaware, 19805-1266,
Attention: Corporate Trust Administration, or such other address in the
State of Delaware as the Delaware Trustee may designate by written notice to
the Holders and the Depositor. The principal executive office of the Issuer
Trust is in care of Allegiant Bancorp, Inc., 2122 Kratky Road, St. Louis,
Missouri 63114, Attention: Corporate Secretary.

         Section 2.3.      Initial Contribution of Trust Property;
                           ---------------------------------------
Organizational Expenses. The Issuer Trustees acknowledge receipt in trust
-----------------------
from the Depositor in connection with this Trust Agreement of the sum of
$10, which constitutes the initial Trust Property. The Depositor shall pay
all organizational expenses of the Issuer Trust as they arise or shall, upon
request of any Issuer Trustee, promptly reimburse such Issuer Trustee for
any such reasonable expenses paid by such Issuer Trustee. The Depositor
shall make no claim upon the Trust Property for the payment of such
expenses.

         Section 2.4.      Issuance of the Preferred Securities. On _____,
                           ------------------------------------
__ 2001, the Depositor, both on its own behalf and on behalf of the Issuer
Trust pursuant to the Original Trust Agreement, executed and delivered the
Underwriting Agreement. Contemporaneously with the execution and delivery of
this Trust Agreement, an Administrator, on behalf of the Issuer Trust, shall
manually execute in accordance with Section 5.3 and the Property Trustee
shall authenticate in accordance with Section 5.3 and deliver to the
Underwriters, Firm Securities Certificates, registered in the names
requested by the Underwriters, in an aggregate amount of 1,200,000 Firm
Securities having an aggregate Liquidation Amount of $30,000,000, against
receipt of the aggregate purchase price of such Preferred Securities of
$30,000,000, by the Property Trustee.

         At the option of the Underwriters, at any time and from time to
time within 30 days of the date of the Prospectus, and solely for the
purpose of covering an over-allotment, if any, an Administrator, on behalf
of the Issuer Trust, shall manually execute in accordance with Section 5.3
and the Property Trustee shall authenticate in accordance with Section 5.3
and deliver to the Underwriters, Option Preferred Securities Certificates,
registered in the names requested by the Underwriters, representing up to
180,000 Option Securities in the aggregate having an aggregate Liquidation
Amount of up to $4,500,000 against receipt of the aggregate purchase price
of such Option Securities of up to $4,500,000 by the Property Trustee.

         Section 2.5.      Issuance of the Common Securities; Subscription
                           -----------------------------------------------
and Purchase of Junior Subordinated Debentures. Contemporaneously with the
----------------------------------------------
execution and delivery of this Trust Agreement, an Administrator, on behalf
of the Issuer Trust, shall execute in accordance with Section 5.3 and the
Property Trustee shall authenticate in accordance with Section 5.3 and
deliver to the Depositor, Common Securities Certificates, registered in the
name of the Depositor, in an aggregate amount of 46,754 Common Securities
having an aggregate Liquidation Amount of $1,168,850 against receipt by the
Property Trustee of the aggregate purchase price of such Common Securities
of $1,168,850. In the event of any exercise from time to time of an
over-allotment option requiring issuance of additional Option Preferred
Securities Certificates, as described in Section 2.4 above, a proportionate
number of additional Common Securities Certificates, with corresponding
aggregate Liquidation Amount, shall be delivered to the Depositor against
receipt by the Property Trustee of the aggregate purchase price therefor.
Contemporaneously with the executions, and deliveries of Common Securities
Certificates and any Preferred Securities Certificates, an Administrator, on
behalf of the Issuer Trust, shall subscribe for and purchase from the
Depositor, corresponding amounts of Junior Subordinated Debentures,
registered in the name of the Issuer Trust and having an aggregate principal
amount equal to $31,168,850, plus, in the event

                                     12

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<PAGE>

of any exercise from time to time of the over-allotment option (a) a
corresponding additional number of Junior Subordinated Debentures not
exceeding an aggregate principal amount of $4,500,000 and (b) a
corresponding number of Junior Subordinated Debentures not exceeding an
aggregate principal amount equal to the aggregate Liquidation Amount of
Common Securities issued pursuant to such exercise from time to time of an
over-allotment option; and, in satisfaction of the purchase price for such
Junior Subordinated Debentures, the Property Trustee, on behalf of the
Issuer Trust, shall deliver to the Depositor the sum of $31,168,850, plus any
corresponding over-allotment option amount(s) (being the sum of the amounts
delivered to the Property Trustee pursuant to (a) the second sentence the
first paragraph and the second paragraph of Section 2.4 and (b) the first
and second sentences of this Section 2.5) and receive the Junior
Subordinated Debentures on behalf of the Issuer Trust.

         Section 2.6.      Declaration of Trust. The exclusive purposes and
                           --------------------
functions of the Issuer Trust are to (a) issue and sell Trust Securities and
use the proceeds from such sale to acquire the Junior Subordinated
Debentures, and (b) engage in only those other activities necessary,
convenient or incidental thereto. The Depositor hereby appoints the Issuer
Trustees as trustees of the Issuer Trust, to have all the rights, powers and
duties to the extent set forth herein, and the Issuer Trustees hereby accept
such appointment. The Property Trustee hereby declares that it will hold the
Trust Property in trust upon and subject to the conditions set forth herein
for the benefit of the Issuer Trust and the Holders. The Depositor hereby
appoints the Administrators (as agents of the Issuer Trust), with such
Administrators having all rights, powers and duties set forth herein with
respect to accomplishing the purposes of the Issuer Trust, and the
Administrators hereby accept such appointment; provided, however, that it is
the intent of the parties hereto that such Administrators shall not be
trustees or fiduciaries with respect to the Issuer Trust and this Trust
Agreement shall be construed in a manner consistent with such intent. The
Property Trustee shall have the right, power and authority to perform those
duties assigned to the Administrators. The Delaware Trustee shall not be
entitled to exercise any powers, nor shall the Delaware Trustee have any of
the duties and responsibilities, of the Property Trustee or the
Administrators set forth herein. The Delaware Trustee shall be one of the
trustees of the Issuer Trust for the sole and limited purpose of fulfilling
the requirements of Section 3807 of the Delaware Business Trust Act and for
taking such actions as are required to be taken by a Delaware trustee under
the Delaware Business Trust Act.

         Section 2.7.      Authorization to Enter into Certain Transactions.
                           ------------------------------------------------

         (a)      The Issuer Trustees and the Administrators shall conduct
the affairs of the Issuer Trust in accordance with the terms of this Trust
Agreement. Subject to the limitations set forth in paragraph (b) of this
Section 2.7 and in accordance with the following provisions (i) and (ii),
the Issuer Trustees and the Administrators shall act as follows:

                  (i)      Each Administrator shall have the power and authority
         and is hereby authorized and directed to act on behalf of the
         Issuer Trust with respect to the following:

                           (A) the compliance with the Underwriting
                  Agreement regarding the issuance and sale of the Trust
                  Securities;

                           (B) the compliance with the Securities Act,
                  applicable state securities or blue sky laws, and the
                  Trust Indenture Act;

                           (C) execution of the Trust Securities on behalf
                  of the Issuer Trust in accordance with this Trust
                  Agreement;

                                     13

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<PAGE>

                           (D) the listing of the Preferred Securities upon
                  the Nasdaq National Market or such other interdealer
                  quotation system or securities exchange or exchanges as
                  shall be determined by the Depositor, with the
                  registration of the Preferred Securities under the
                  Exchange Act, if required, and the preparation and filing
                  of all periodic and other reports and other documents
                  pursuant to the foregoing;

                           (E) the application for a taxpayer identification
                  number for the Issuer Trust;

                           (F) the preparation of a registration statement
                  and a prospectus in relation to the Preferred Securities,
                  including any amendments thereto and the taking of any
                  action necessary or desirable to sell the Preferred
                  Securities in a transaction or series of transactions
                  subject to the registration requirements of the Securities
                  Act;

                           (G) cause the Issuer Trust to enter into, and
                  execute, deliver and perform on behalf of the Issuer Trust
                  all agreements, instruments, certificates or other
                  documents as such Administrator deems necessary or
                  incidental to the purposes and functions of the Issuer
                  Trust; and

                           (H) any action incidental to the foregoing as the
                  Administrators may from time to time determine is
                  necessary or advisable to give effect to the terms of this
                  Trust Agreement.

                  (ii)     The Property Trustee shall have the power and
         authority, and is hereby authorized and directed, to act on behalf
         of the Issuer Trust with respect to the following matters:

                           (A) establish and maintain the Payment Account;

                           (B) receive, take title to and exercise all of
                  the rights, powers and privileges of the holder of the
                  Junior Subordinated Debentures;

                           (C) receive and collect interest, principal and
                  any other payments made in respect of the Junior
                  Subordinated Debentures in the Payment Account;

                           (D) distribute amounts owed to the Holders in
                  respect of the Trust Securities in accordance with the
                  terms of this Trust Agreement;

                           (E) act as Paying Agent and/or Securities
                  Registrar to the extent appointed as such hereunder;

                           (F) send notices of default and other notices and
                  information regarding the Trust Securities and the Junior
                  Subordinated Debentures to the Holders in accordance with
                  this Trust Agreement;

                           (G) distribute the Trust Property in accordance
                  with the terms of this Trust Agreement;

                                     14

<PAGE>
<PAGE>

                           (H) to the extent provided in this Trust
                  Agreement, wind up the affairs of and liquidate the Issuer
                  Trust and prepare, execute and file the certificate of
                  cancellation with the Secretary of State of the State of
                  Delaware;

                           (I) after an Event of Default (other than under
                  paragraph (b), (c) or (d) of the definition of such term
                  if such Event of Default is by or with respect to the
                  Property Trustee), comply with the provisions of this
                  Trust Agreement and take any action to give effect to the
                  terms of this Trust Agreement and protect and conserve the
                  Trust Property for the benefit of the Holders (without
                  consideration of the effect of any such action on any
                  particular Holder); provided, however, that nothing in
                  this Section 2.7(a)(ii) shall require the Property Trustee
                  to take any action that is not otherwise required in this
                  Trust Agreement; and

                           (J) take any action incidental or convenient to
                  the foregoing as the Property Trustee may from time to
                  time determine is necessary or advisable to give effect to
                  the terms of this Trust Agreement; provided, however, that
                  nothing in this Section 2.7(a)(ii) shall require the
                  Property Trustee to take any action that is not otherwise
                  required in this Trust Agreement.

         (b)      So long as this Trust Agreement remains in effect, the
Issuer Trust (or the Issuer Trustees or Administrators acting on behalf of
the Issuer Trust) shall not undertake any business, activities or
transaction except as expressly provided herein or contemplated hereby. In
particular, neither the Issuer Trustees nor the Administrators (in each case
acting on behalf of the Issuer Trust) shall (i) acquire any investments or
engage in any activities not authorized by this Trust Agreement, (ii) sell,
assign, transfer, exchange, mortgage, pledge, set-off or otherwise dispose
of any of the Trust Property or interests therein, including to Holders,
except as expressly provided herein, (iii) take any action that would
reasonably be expected to cause the Issuer Trust to fail or cease to qualify
as grantor trust for United States federal income tax purposes, (iv) incur
any indebtedness for borrowed money or issue any other debt, or (v) take or
consent to any action that would result in the placement of a Lien on any of
the Trust Property. The Property Trustee shall defend all claims and demands
of all Persons at any time claiming any Lien on any of the Trust Property
adverse to the interest of the Issuer Trust or the Holders in their capacity
as Holders.

         (c)      In connection with the issue and sale of the Preferred
Securities, the Depositor shall have the power and authority to assist the
Issuer Trust with respect to, or effect on behalf of the Issuer Trust, the
following (and any actions taken by the Depositor in furtherance of the
following prior to the date of this Trust Agreement are hereby ratified and
confirmed in all respects):

                  (i)      the preparation and filing by the Issuer Trust with
         the Commission, and the execution and delivery on behalf of the
         Issuer Trust, of a registration statement and a prospectus in
         relation to the Preferred Securities, including any amendments
         thereto, and the taking of any action necessary or desirable to
         sell the Preferred Securities in a transaction or a series of
         transactions subject to the registration requirements of the
         Securities Act;

                  (ii)     the determination of the states in which to take
         appropriate action to qualify or register for sale all or part of
         the Preferred Securities and the determination of any and all such
         acts, other than actions that must be taken by or on behalf of the
         Issuer Trust, and the advice to the Issuer Trustees of actions they
         must take on behalf of the Issuer Trust, and the preparation for
         execution and filing of any documents to be executed and filed by
         the Issuer Trust or on behalf of

                                     15

<PAGE>
<PAGE>

         the Issuer Trust, as the Depositor deems necessary or advisable in
         order to comply with the applicable laws of any such states in
         connection with the offer and sale of the Preferred Securities;

                  (iii)    the negotiation of the terms of, and the execution
         and delivery of, the Underwriting Agreement providing for the sale of
         the Preferred Securities;

                  (iv)     the preparation and filing by the Issuer Trust with
         the Commission and the execution on behalf of the Issuer Trust of a
         registration statement on Form 8-A relating to the registration of
         the Preferred Securities under Section 12(b) or 12(g) of the
         Exchange Act, as amended, including any amendments thereto;

                  (v)      compliance with the listing requirements of the
         Preferred Securities upon the Nasdaq National Market or such other
         interdealer quotation system or securities exchange or exchanges as
         shall be determined by the Depositor, the registration of the
         Preferred Securities under the Exchange Act, if required, and the
         preparation and filing of all periodic and other reports and other
         documents pursuant to the foregoing; and

                  (vi)     the taking of any other actions necessary or
         desirable to carry out any of the foregoing activities.

         (d)      Notwithstanding anything herein to the contrary, the
Administrators and the Property Trustee are authorized and directed to
conduct the affairs of the Issuer Trust and to operate the Issuer Trust so
that the Issuer Trust will not be deemed to be an "investment company"
required to be registered under the Investment Company Act, and will be
classified as a grantor trust (and not as an association taxable as a
corporation) for United States federal income tax purposes and so that the
Junior Subordinated Debentures will be treated as indebtedness of the
Depositor for United States federal income tax purposes. In this connection,
the Property Trustee, the Administrators and the Holders of Common
Securities are authorized to take any action, not inconsistent with
applicable law, the Certificate of Trust or this Trust Agreement, that the
Property Trustee, the Administrators and Holders of Common Securities
determine in their discretion to be necessary or desirable for such
purposes, as long as such action does not adversely affect in any material
respect the interests of the Holders of the Outstanding Preferred
Securities. In no event shall the Administrators or the Issuer Trustees be
liable to the Issuer Trust or the Holders for any failure to comply with
this section that results from a change in law or regulations or in the
interpretation thereof.

         Section 2.8.      Assets of Trust. The assets of the Issuer Trust
                           ---------------
shall consist solely of the Trust Property.

         Section 2.9.      Title to Trust Property. Legal title to all Trust
                           -----------------------
Property shall be vested at all times in the Issuer Trust and shall be held
and administered by the Property Trustee (in its capacity as such) for the
benefit of the Issuer Trust and the Holders in accordance with this Trust
Agreement.

                                     16

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<PAGE>

                                 ARTICLE III
                                 -----------

                               PAYMENT ACCOUNT
                               ---------------

         Section 3.1.      Payment Account.
                           ---------------

         (a)      On or prior to the Closing Date, the Property Trustee
shall establish the Payment Account. The Property Trustee and its agents
shall have exclusive control and sole right of withdrawal with respect to
the Payment Account for the purpose of making deposits in and withdrawals
from the Payment Account in accordance with this Trust Agreement. All monies
and other property deposited or held from time to time in the Payment
Account shall be held by the Property Trustee in the Payment Account for the
exclusive benefit of the Holders and for distribution as herein provided,
including (and subject to) any priority of payments provided for herein.

         (b)      The Property Trustee shall deposit in the Payment Account,
promptly upon receipt, all payments of principal of or interest on, and any
other payments or proceeds with respect to, the Junior Subordinated
Debentures. Amounts held in the Payment Account shall not be invested by the
Property Trustee pending distribution thereof.

                                 ARTICLE IV
                                 ----------

                          DISTRIBUTIONS; REDEMPTION
                          -------------------------

         Section 4.1.      Distributions.
                           -------------

         (a)      The Trust Securities represent undivided beneficial
interests in the Trust Property, and Distributions (including Distributions
of Additional Amounts) will be made on the Trust Securities at the rate and
on the dates that payments of interest (including payments of Additional
Interest) are made on the Junior Subordinated Debentures. Accordingly:

                  (i)      Distributions on the Trust Securities shall be
         cumulative and will accumulate whether or not there are funds of
         the Issuer Trust available for the payment of Distributions.
         Distributions shall accumulate from _____ __, 2001, and, except in
         the event (and to the extent) that the Depositor exercises its
         right to defer the payment of interest on the Junior Subordinated
         Debentures pursuant to the Indenture, shall be payable quarterly in
         arrears on March 31, June 30, September 30 and December 31 of each
         year, commencing on December 31, 2001. If any date on which a
         Distribution is otherwise payable on the Trust Securities is not a
         Business Day, then the payment of such Distribution shall be made
         on the next succeeding day that is a Business Day (without any
         interest or other payment in respect of any such delay), except
         that, if such Business Day is in the next succeeding calendar year,
         payment of such Distributions shall be made on the immediately
         preceding Business Day, in either case with the same force and
         effect as if made on the date on which such payment was originally
         payable (each date on which distributions are payable in accordance
         with this Section 4.1(a), a "Distribution Date").

                  (ii)     The Trust Securities shall be entitled to
         Distributions payable at a rate of _____% per annum of the
         Liquidation Amount of the Trust Securities. The amount of
         Distributions payable for any period less than a full Distribution
         period

                                     17

<PAGE>
<PAGE>

         shall be computed on the basis of a 360-day year of twelve 30-day
         months and the actual number of days elapsed in a partial month in
         a period. Distributions payable for each full Distribution period
         will be computed by dividing the rate per annum by four. The amount
         of Distributions payable for any period shall include any
         Additional Amounts in respect of such period.

                  (iii)    So long as no Debenture Event of Default has
         occurred and is continuing, the Depositor has the right under the
         Indenture to defer the payment of interest on the Junior
         Subordinated Debentures at any time and from time to time for a
         period not exceeding 20 consecutive quarterly periods (an
         "Extension Period"), provided that no Extension Period may extend
         beyond _____ __, 2031 or end on a date other than an interest
         payment date. As a consequence of any such deferral, quarterly
         Distributions on the Trust Securities by the Issuer Trust will also
         be deferred (and the amount of Distributions to which Holders of
         the Trust Securities are entitled will accumulate additional
         Distributions thereon at the rate per annum of ______% per annum,
         compounded quarterly) from the relevant payment date for such
         Distributions, computed on the basis of a 360-day year of twelve
         30-day months and the actual days elapsed in a partial month in
         such period. Additional Distributions payable for each full
         Distribution period will be computed by dividing the rate per annum
         by four. The term "Distributions" as used in this Section 4.1 shall
         include any such additional Distributions provided pursuant to this
         Section 4.1(a)(iii). During an Extension Period, the Depositor
         shall not (i) declare or pay any dividends or distributions on, or
         redeem, purchase, acquire or make a liquidation payment with
         respect to, any of the Depositor's capital stock, or (ii) make any
         payment of principal of or interest or premium, if any, on, or
         repay, repurchase or redeem any debt securities of the Depositor
         that rank pari passu with, or are junior in interest to, the
         Securities, including the Depositor's obligations associated with
         the outstanding Preferred Securities and the 9.875% junior
         subordinated debentures due 2029 issued by the Depositor on August
         2, 1999, which are currently held by Allegiant Capital Trust I or
         (iii) redeem, purchase or acquire less than all of the Junior
         Subordinated Debentures or any of the Preferred Securities (other
         than (A) repurchases, redemptions or other acquisitions of shares
         of capital stock of the Depositor in connection with any employment
         contract, benefit plan or other similar arrangement with or for the
         benefit of any one or more employees, officers, directors or
         consultants, in connection with a dividend reinvestment or
         shareholder stock purchase plan, (B) as a result of a
         reclassification, an exchange or conversion of any class or series
         of the Depositor's capital stock (or any capital stock of a
         subsidiary more than 50% of the outstanding voting stock of which
         is owned, directly or indirectly, by the Depositor and/or one or
         more of its subsidiaries) for any class or series of the
         Depositor's capital stock, (C) the purchase of fractional interests
         in shares of the Depositor's capital stock pursuant to the
         conversion or exchange provisions of such capital stock or the
         security being converted or exchanged, (D) any declaration of a
         dividend in connection with any Rights Plan, or the issuance of
         rights, stock or other property under any rights plan, or the
         redemption or repurchase of rights pursuant thereto, or (E) any
         dividend in the form of stock, warrants, options or other rights
         where the dividend stock or the stock issuable upon exercise of
         such warrants, options or other rights is the same stock as that on
         which the dividend is being paid or ranks pari passu with or junior
         to such stock).

                  (iv)     Distributions on the Trust Securities shall be made
         by the Property Trustee from the Payment Account and shall be
         payable on each Distribution Date only to the extent that the
         Issuer Trust has funds then available in the Payment Account for
         the payment of such Distributions.

         (b)      Distributions on the Trust Securities with respect to a
Distribution Date shall be payable to the Holders thereof as they appear on
the Securities Register for the Trust Securities at the close of

                                     18

<PAGE>
<PAGE>

business on the relevant record date, which shall be at the close of
business on the 15th day of March, June, September or December (whether or
not a Business Day).

         Section 4.2.      Redemption.
         -----------       ----------

         (a)      On each Debenture Redemption Date and on the stated
maturity of the Junior Subordinated Debentures, the Issuer Trust will be
required to redeem a Like Amount of Trust Securities at the Redemption
Price.

         (b)      Notice of redemption shall be given by the Property
Trustee by first-class mail, postage prepaid, mailed not less than 30 nor
more than 60 days prior to the Redemption Date to each Holder of Trust
Securities to be redeemed, at such Holder's address appearing in the
Security Register. All notices of redemption shall state:

                  (i)      the Redemption Date;

                  (ii)     the Redemption Price, or if the Redemption Price
         cannot be calculated prior to the time the notice is required to be
         sent, the estimate of the Redemption Price provided pursuant to the
         Indenture together with a statement that it is an estimate and that
         the actual Redemption Price will be calculated on the third
         Business Day prior to the Redemption Date (and if an estimate is
         provided, a further notice shall be sent of the actual Redemption
         Price on the date, or as soon as practicable thereafter, that
         notice of such actual Redemption Price is received pursuant to the
         Indenture);

                  (iii)    the CUSIP number or CUSIP numbers of the Preferred
         Securities affected;

                  (iv)     if less than all the Outstanding Trust Securities
         are to be redeemed, the identification and the total Liquidation
         Amount of the particular Trust Securities to be redeemed;

                  (v)      that, on the Redemption Date, the Redemption Price
         will become due and payable upon each such Trust Security to be
         redeemed and that Distributions thereon will cease to accumulate on
         and after said date, except as provided in Section 4.2(d) below;
         and

                  (vi)     the place or places where Trust Securities are to be
         surrendered for the payment of the Redemption Price.

         The Issuer Trust in issuing the Trust Securities shall use "CUSIP"
numbers, and the Property Trustee shall indicate the "CUSIP" numbers of the
Trust Securities in notices of redemption and related materials as a
convenience to Holders; provided that any such notice may state that no
representation is made as to the correctness of such numbers either as
printed on the Trust Securities or as contained in any notice of redemption
and related material.

         (c)      The Trust Securities redeemed on each Redemption Date
shall be redeemed at the Redemption Price with the applicable proceeds from
the contemporaneous redemption of Junior Subordinated Debentures.
Redemptions of the Trust Securities shall be made and the Redemption Price
shall be payable on each Redemption Date only to the extent that the Issuer
Trust has funds then available in the Payment Account for the payment of
such Redemption Price.

                                     19

<PAGE>
<PAGE>

         (d)      If the Property Trustee gives a notice of redemption in
respect of any Preferred Securities, then, by 12:00 noon, New York City
time, on the Redemption Date, subject to Section 4.2(c), the Property
Trustee will, with respect to Preferred Securities held in global form,
irrevocably deposit with the Clearing Agency for such Preferred Securities,
to the extent available therefor, funds sufficient to pay the applicable
Redemption Price and will give such Clearing Agency irrevocable instructions
and authority to pay the Redemption Price to the Owners of the Preferred
Securities. With respect to Preferred Securities that are not held in global
form, the Property Trustee, subject to Section 4.2(c), will irrevocably
deposit with the Paying Agent, to the extent available therefor, funds
sufficient to pay the applicable Redemption Price and will give the Paying
Agent irrevocable instructions and authority to pay the Redemption Price to
the Holders of the Preferred Securities upon surrender of their Preferred
Securities Certificates. Notwithstanding the foregoing, Distributions
payable on or prior to the Redemption Date for any Trust Securities called
for redemption shall be payable to the Holders of such Trust Securities as
they appear on the Securities Register for the Trust Securities on the
relevant record dates for the related Distribution Dates. If notice of
redemption shall have been given and funds deposited as required, then, upon
the date of such deposit, all rights of Holders holding Trust Securities so
called for redemption will cease, except the right of such Holders to
receive the Redemption Price and any Distributions payable in respect of the
Trust Securities on or prior to the Redemption Date, but without interest,
and such Trust Securities will cease to be Outstanding. In the event that
any date on which any applicable Redemption Price is payable is not a
Business Day, then payment of the applicable Redemption Price payable on
such date will be made on the next succeeding day that is a Business Day
(and without any interest or other payment in respect of any such delay),
except that, if such Business Day is in the next succeeding calendar year,
such payment shall be made on the immediately preceding Business Day, in
each case, with the same force and effect as if made on such date. In the
event that payment of the Redemption Price in respect of any Trust
Securities called for redemption is improperly withheld or refused and not
paid either by the Issuer Trust or by the Depositor pursuant to the
Guarantee Agreement, Distributions on such Trust Securities will continue to
accumulate, as set forth in Section 4.1, from the Redemption Date originally
established by the Issuer Trust for such Trust Securities to the date such
applicable Redemption Price is actually paid, in which case the actual
payment date will be the date fixed for redemption for purposes of
calculating the applicable Redemption Price.

         (e)      Subject to Section 4.3(a), if less than all the
Outstanding Trust Securities are to be redeemed on a Redemption Date, then
the particular Preferred Securities to be redeemed shall be selected not
more than 60 days prior to the Redemption Date by the Property Trustee from
the Outstanding Preferred Securities not previously called for redemption in
such a manner as the Property Trustee shall deem fair and appropriate. The
Property Trustee shall promptly notify the Securities Registrar in writing
of the Preferred Securities selected for redemption and, in the case of any
Preferred Securities selected for partial redemption, the Liquidation Amount
thereof to be redeemed. For all purposes of this Trust Agreement, unless the
context otherwise requires, all provisions relating to the redemption of
Preferred Securities shall relate, in the case of any Preferred Securities
redeemed or to be redeemed only in part, to the portion of the Liquidation
Amount of Preferred Securities which has been or is to be redeemed.

         (f)      Payment of the Redemption Price on the Trust Securities
shall be made to the record holders thereof as they appear on the Securities
Register for the Trust Securities on the relevant record date, which shall
be the date 15 days prior to the relevant Redemption Date.

         Section 4.3.      Subordination of Common Securities.
                           ----------------------------------

         (a)      Payment of Distributions (including Additional Amounts, if
applicable) on, the Redemption Price of, and the Liquidation Distribution in
respect of, the Trust Securities, as applicable,

                                     20

<PAGE>
<PAGE>

shall be made, pro rata among the Common Securities and the Preferred
Securities based on the Liquidation Amount of such Trust Securities;
provided, however, that if on any Distribution Date or Redemption Date any
Event of Default resulting from a Debenture Event of Default shall have
occurred and be continuing, no payment of any Distribution (including any
Additional Amounts, if applicable) on, or Redemption Price of, or
Liquidation Distribution in respect of, any Common Security, and no other
payment on account of the redemption, liquidation or other acquisition of
Common Securities, shall be made unless payment in full in cash of all
accumulated and unpaid Distributions (including Additional Amounts, if
applicable) on all Outstanding Preferred Securities for all Distribution
periods terminating on or prior thereto, or, in the case of payment of the
Redemption Price, the full amount of such Redemption Price on all
Outstanding Preferred Securities then called for redemption, or in the case
of payment of the Liquidation Distribution the full amount of such
Liquidation Distribution on all Outstanding Preferred Securities, shall have
been made or provided for, and all funds immediately available to the
Property Trustee shall first be applied to the payment in full in cash of
all Distributions (including any Additional Amounts, if applicable) on, or
the Redemption Price of, or Liquidation Distribution in respect of Preferred
Securities then due and payable. The existence of an Event of Default does
not entitle the Holders of Preferred Securities to accelerate the maturity
thereof.

         (b)      In the case of the occurrence of any Event of Default
resulting from any Debenture Event of Default, the Holder of the Common
Securities shall have no right to act with respect to any such Event of
Default under this Trust Agreement until the effects of all such Events of
Default with respect to the Preferred Securities have been cured, waived or
otherwise eliminated. Until all such Events of Default under this Trust
Agreement with respect to the Preferred Securities have been so cured,
waived or otherwise eliminated, the Property Trustee shall act solely on
behalf of the Holders of the Preferred Securities and not on behalf of the
Holder of the Common Securities, and only the Holders of the Preferred
Securities will have the right to direct the Property Trustee to act on
their behalf.

         Section 4.4.      Payment Procedures. Payments of Distributions
                           ------------------
(including any Additional Amounts, if applicable) in respect of the
Preferred Securities shall be made by check mailed to the address of the
Person entitled thereto as such address shall appear on the Securities
Register or, if the Preferred Securities are held by a Clearing Agency, such
Distributions shall be made to the Clearing Agency in immediately available
funds, which will credit the relevant accounts on the applicable
Distribution Dates. Payments of Distributions to Holders of $1,000,000 or
more in aggregate Liquidation Amount of Preferred Securities may be made by
wire transfer of immediately available funds upon written request of such
Holder of Preferred Securities to the Securities Registrar not later than 15
calendar days prior to the date on which the Distribution is payable.
Payments in respect of the Common Securities shall be made in such manner as
shall be mutually agreed between the Property Trustee and the Holder of the
Common Securities.

         Section 4.5.      Tax Returns and Reports.
                           -----------------------

         (a)      The Administrators shall prepare and file (or cause to be
prepared and filed), at the Depositor's expense, all United States federal,
state and local tax and information returns and reports required to be filed
by or in respect of the Issuer Trust. In this regard, the Administrators
shall (i) prepare and file (or cause to be prepared and filed) all Internal
Revenue Service forms required to be filed in respect of the Issuer Trust in
each taxable year of the Issuer Trust and (ii) prepare and furnish (or cause
to be prepared and furnished) to each Holder all Internal Revenue Service
forms required to be provided by the Issuer Trust. The Administrators shall
provide the Depositor and the Property Trustee with a copy of all such
returns and reports promptly after such filing or furnishing. The Issuer
Trustees and the

                                     21

<PAGE>
<PAGE>

Administrators shall comply with United States federal withholding and
backup withholding tax laws and information reporting requirements with
respect to any payments to Holders under the Trust Securities.

         (b)      On or before December 15 of each year during which any
Preferred Securities are outstanding, the Administrators shall furnish to
the Paying Agent such information as may be reasonably requested by the
Property Trustee in order that the Property Trustee may prepare the
information which it is required to report for such year on Internal Revenue
Service Forms 1096 and 1099 pursuant to Section 6049 of the Code. Such
information shall include the amount of original issue discount includible
in income for each outstanding Preferred Security during such year.

         Section 4.6.      Payment of Taxes; Duties, Etc. of the Issuer
                           --------------------------------------------
Trust. Upon receipt under the Junior Subordinated Debentures of Additional
-----
Sums, the Property Trustee, at the written direction of an Administrator or
the Depositor, shall promptly pay any taxes, duties or governmental charges
of whatsoever nature (other than withholding taxes) imposed on the Issuer
Trust by the United States or any other taxing authority.

         Section 4.7.      Payments under Indenture or Pursuant to Direct
                           ----------------------------------------------
Actions. Any amount payable hereunder to any Holder of Preferred Securities
-------
shall be reduced by the amount of any corresponding payment such Holder (or
any Owner related thereto) has directly received pursuant to Section 5.8 of
the Indenture or Section 5.13 of this Trust Agreement.

         Section 4.8.      Liability of the Holder of Common Securities. The
                           --------------------------------------------
Holder of Common Securities shall be liable for the debts and obligations of
the Issuer Trust as set forth in Section 6.7(c) of the Indenture regarding
allocation of expenses.

                                  ARTICLE V
                                  ---------

                        TRUST SECURITIES CERTIFICATES
                        -----------------------------

         Section 5.1.      Initial Ownership. Until the issuance of the
                           -----------------
Trust Securities, and at any time during which no Trust Securities are
outstanding, the Depositor shall be the sole beneficial owner of the Issuer
Trust.

         Section 5.2.      The Trust Securities Certificates.
                           ---------------------------------

         (a)      The Trust Securities Certificates shall be executed on
behalf of the Issuer Trust by manual or facsimile signature of at least one
Administrator, except as provided in Section 5.3. Trust Securities
Certificates bearing the signatures of individuals who were, at the time
when such signatures shall have been affixed, authorized to sign on behalf
of the Issuer Trust, shall be validly issued and entitled to the benefits of
this Trust Agreement, notwithstanding that such individuals or any of them
shall have ceased to be so authorized prior to the delivery of such Trust
Securities Certificates or did not hold such offices at the date of delivery
of such Trust Securities Certificates. The Preferred Securities Certificate
shall be issued in minimum denominations of $25 and integral multiples of
$25 in excess thereof. A transferee of a Trust Securities Certificate shall
become a Holder, and shall be entitled to the rights and subject to the
obligations of a Holder hereunder, upon due registration of such Trust
Securities Certificate in such transferee's name pursuant to Section 5.5.

         (b)      Upon their original issuance, Preferred Securities
Certificates shall be issued in the form of one or more fully registered
Global Preferred Securities Certificates which will be deposited with or

                                     22

<PAGE>
<PAGE>

on behalf of Cede as the Depositary's nominee and registered in the name of
Cede as the Depositary's nominee. Unless and until it is exchangeable in
whole or in part for the Preferred Securities in definitive form, a global
security may not be transferred except as a whole by the Depositary to a
nominee of the Depositary or by a nominee of the Depositary to the
Depositary or another nominee of the Depositary or by the Depositary or any
such nominee to a successor of such Depositary or a nominee of such
successor.

         (c)      A single Common Securities Certificate representing the
Common Securities shall be issued to the Depositor in the form of a
definitive Common Securities Certificate.

         Section 5.3.      Execution and Delivery of Trust Securities
                           ------------------------------------------
Certificates. On the Closing Date, and on any Date of Delivery, if
------------
applicable, an Administrator shall cause Trust Securities Certificates, in
an aggregate Liquidation Amount as provided in Sections 2.4 and 2.5, as the
case may be, to be executed on behalf of the Issuer Trust and delivered to
the Property Trustee and upon such delivery the Property Trustee shall
authenticate such Trust Securities Certificates and deliver such Trust
Securities Certificates upon the written order of the Issuer Trust, executed
by an Administrator thereof, without further corporate action by the Issuer
Trust, in authorized denominations, and whereupon the Trust Securities
evidenced by such Trust Securities Certificates shall be duly and validly
issued undivided beneficial interests in the assets of the Issuer Trust and
entitled to the benefits of this Trust Agreement.

         Section 5.4.      Global Preferred Security.
                           -------------------------

         (a)      Any Global Preferred Security issued under this Trust
Agreement shall be registered in the name of the nominee of the Clearing
Agency and delivered to such custodian therefor, and such Global Preferred
Security shall constitute a single Preferred Security for all purposes of
this Trust Agreement.

         (b)      Notwithstanding any other provision in this Trust
Agreement, a Global Preferred Security may not be exchanged in whole or in
part for Preferred Securities registered, and no transfer of the Global
Preferred Security in whole or in part may be registered, in the name of any
Person other than the Clearing Agency for such Global Preferred Security,
Cede or other nominee thereof unless (i) such Clearing Agency advises the
Depositor and the Issuer Trustees in writing that such Clearing Agency is no
longer willing or able to properly discharge its responsibilities as
Clearing Agency with respect to such Global Preferred Security, and the
Depositor is unable to locate a qualified successor within 90 days of
receipt of such notice from the Depositary, (ii) the Depositor, at its
option, advises the Depositary in writing that it elects to terminate the
book-entry system through the Clearing Agency, or (iii) there shall have
occurred and be continuing an Event of Default.

         (c)      If a Preferred Security is to be exchanged in whole or in
part for a beneficial interest in a Global Preferred Security, then either
(i) such Global Preferred Security shall be so surrendered for exchange or
cancellation as provided in this Article V or (ii) the Liquidation Amount
thereof shall be reduced or increased by an amount equal to the portion
thereof to be so exchanged or canceled, or equal to the Liquidation Amount
of such other Preferred Security to be so exchanged for a beneficial
interest therein, as the case may be, by means of an appropriate adjustment
made on the records of the Security Registrar, whereupon the Property
Trustee, in accordance with the Applicable Procedures, shall instruct the
Clearing Agency or its authorized representative to make a corresponding
adjustment to its records. Upon any such surrender or adjustment of a Global
Preferred Security by the Clearing Agency, accompanied by registration
instructions, the Property Trustee shall, subject to Section 5.4(b) and as
otherwise provided in this Article V, authenticate and deliver and an
Administrator shall execute any Preferred Securities issuable in exchange
for such Global Preferred Security (or any portion thereof) in

                                     23

<PAGE>
<PAGE>

accordance with the instructions of the Clearing Agency. The Property
Trustee shall not be liable for any delay in delivery of such instructions
and may conclusively rely on, and shall be fully protected in relying on,
such instructions.

         (d)      Every Preferred Security registered, executed,
authenticated and delivered upon registration of transfer of, or in exchange
for or in lieu of, a Global Preferred Security or any portion thereof,
whether pursuant to this Article V or Article IV or otherwise, shall be
executed, authenticated and delivered in the form of, and shall be, a Global
Preferred Security, unless such Global Preferred Security is registered in
the name of a Person other than the Clearing Agency for such Global
Preferred Security or a nominee thereof.

         (e)      The Clearing Agency or its nominee, as the registered
owner of a Global Preferred Security, shall be considered the Holder of the
Preferred Securities represented by such Global Preferred Security for all
purposes under this Trust Agreement and the Preferred Securities, and Owners
of beneficial interests in such Global Preferred Security shall hold such
interests pursuant to the applicable Procedures and, except as otherwise
provided herein, shall not be entitled to receive physical delivery of any
such Preferred Securities in definitive form and shall not be considered the
Holders thereof under this Trust Agreement. Accordingly, any such Owner's
beneficial interest in the Global Preferred Security shall be shown only on,
and the transfer of such interest shall be effected only through, records
maintained by the Clearing Agency or its nominee. Neither the Property
Trustee, the Securities Registrar nor the Depositor shall have any liability
in respect of any transfers effected by the Clearing Agency.

         (f)      The rights of Owners of beneficial interests in a Global
Preferred Security shall be exercised only through the Clearing Agency and
shall be limited to those established by law and agreements between such
Owners and the Clearing Agency.

         Section 5.5.      Registration of Transfer and Exchange Generally;
                           ------------------------------------------------
Certain Transfers and Exchanges; Preferred Securities Certificates.
------------------------------------------------------------------

         (a)      The Property Trustee shall keep or cause to be kept at its
Corporate Trust Office a register or registers for the purpose of
registering Preferred Trust Securities Certificates and transfers and
exchanges of Preferred Securities Certificates in which the registrar and
transfer agent with respect to the Preferred Securities (the "Securities
Registrar"), subject to such reasonable regulations as it may prescribe,
shall provide for the registration of Preferred Securities Certificates and
Common Securities Certificates (subject to Section 5.11 in the case of
Common Securities Certificates) and registration of transfers and exchanges
of Preferred Securities Certificates as herein provided. Such register is
herein sometimes referred to as the "Securities Register." The Property
Trustee is hereby appointed "Securities Registrar" for the purpose of
registering Preferred Securities and transfers of Preferred Securities as
herein provided.

         Upon surrender for registration of transfer of any Preferred
Security at the offices or agencies of the Property Trustee designated for
that purpose, an Administrator shall execute and the Property Trustee shall
authenticate and deliver, in the name of the designated transferee or
transferees, one or more new Preferred Securities of the same series of any
authorized denominations of like tenor and aggregate Liquidation Amount and
bearing such legends as may be required by this Trust Agreement.

         At the option of the Holder, Preferred Securities may be exchanged
for other Preferred Securities of any authorized denominations, of like
tenor and aggregate Liquidation Amount and bearing such legends as may be
required by this Trust Agreement, upon surrender of the Preferred Securities
to be

                                     24

<PAGE>
<PAGE>

exchanged at such office or agency. Whenever any Preferred Securities are so
surrendered for exchange, an Administrator shall execute and the Property
Trustee shall authenticate and deliver the Preferred Securities that the
Holder making the exchange is entitled to receive.

         All Preferred Securities issued upon any transfer or exchange of
Preferred Securities shall be the valid obligations of the Issuer Trust,
evidencing the same interest, and entitled to the same benefits under this
Trust Agreement, as the Preferred Securities surrendered upon such transfer
or exchange.

         Every Preferred Security presented or surrendered for transfer or
exchange shall (if so required by the Property Trustee) be duly endorsed, or
be accompanied by a written instrument of transfer in form satisfactory to
the Property Trustee and the Securities Registrar, duly executed by the
Holder thereof or such Holder's attorney duly authorized in writing.

         No service charge shall be made to a Holder for any transfer or
exchange of Preferred Securities, but the Property Trustee may require
payment of a sum sufficient to cover any tax or other governmental charge
that may be imposed in connection with any transfer or exchange of Preferred
Securities.

         Neither the Issuer Trust nor the Property Trustee shall be
required, pursuant to the provisions of this Section, (i) to issue, register
the transfer of, or exchange any Preferred Security during a period
beginning at the opening of business 15 days before the day of selection for
redemption of Preferred Securities pursuant to Article IV and ending at the
close of business on the day of mailing of the notice of redemption, or (ii)
to register the transfer of or exchange any Preferred Security so selected
for redemption in whole or in part, except, in the case of any such
Preferred Security to be redeemed in part, any portion thereof not to be
redeemed.

         (b)      Certain Transfers and Exchanges. Trust Securities may only
                  -------------------------------
be transferred, in whole or in part, in accordance with the terms and
conditions set forth in this Trust Agreement. Any transfer or purported
transfer of any Trust Security not made in accordance with this Trust
Agreement shall be null and void.

                  (i)      Non-Global Security to Non-Global Security. A Trust
                           ------------------------------------------
         Security that is not a Global Preferred Security may be
         transferred, in whole or in part, to a Person who takes delivery in
         the form of another Trust Security that is not a Global Preferred
         Security as provided in Section 5.5(a).

                  (ii)     Free Transferability. Subject to this Section 5.5,
                           --------------------
         Preferred Securities shall be freely transferable.

                  (iii)    Exchanges Between Global Preferred Security and
                           -----------------------------------------------
         Non-Global Preferred Security. A beneficial interest in a Global
         -----------------------------
         Preferred Security may be exchanged for a Preferred Security that
         is not a Global Preferred Security as provided in Section 5.4.

         Section 5.6.      Mutilated, Destroyed, Lost or Stolen Trust
                           ------------------------------------------
Securities Certificates. If (a) any mutilated Trust Securities Certificate
-----------------------
shall be surrendered to the Securities Registrar, or if the Securities
Registrar shall receive evidence to its satisfaction of the destruction,
loss or theft of any Trust Securities Certificate and (b) there shall be
delivered to the Securities Registrar and the Administrators such security
or indemnity as may be required by them to save each of them harmless, then
in the absence of notice that such Trust Securities Certificate shall have
been acquired by a bona fide purchaser or a protected purchaser, the
Administrators, or any one of them, on behalf of the Issuer Trust shall
execute

                                     25

<PAGE>
<PAGE>

and make available for delivery, and the Property Trustee shall
authenticate, in exchange for or in lieu of any such mutilated, destroyed,
lost or stolen Trust Securities Certificate, a new Trust Securities
Certificate of like class, tenor and denomination. In connection with the
issuance of any new Trust Securities Certificate under this Section, the
Administrators or the Securities Registrar may require the payment of a sum
sufficient to cover any tax or other governmental charge that may be imposed
in connection therewith. Any duplicate Trust Securities Certificate issued
pursuant to this Section shall constitute conclusive evidence of an
undivided beneficial interest in the assets of the Issuer Trust
corresponding to that evidenced by the lost, stolen or destroyed Trust
Securities Certificate, as if originally issued, whether or not the lost,
stolen or destroyed Trust Securities Certificate shall be found at any time.

         Section 5.7.      Persons Deemed Holders. The Issuer Trustees, the
                           ----------------------
Administrators, the Securities Registrar or the Depositor shall treat the
Person in whose name any Trust Securities are registered in the Securities
Register as the owner of such Trust Securities for the purpose of receiving
Distributions and for all other purposes whatsoever, and none of the Issuer
Trustees, the Administrators, the Securities Registrar nor the Depositor
shall be bound by any notice to the contrary.

         Section 5.8.      Access to List of Holders' Names and Addresses.
                           ----------------------------------------------
Each Holder and each Owner shall be deemed to have agreed not to hold the
Depositor, the Property Trustee or the Administrators accountable by reason
of the disclosure of its name and address, regardless of the source from
which such information was derived.

         Section 5.9.      Maintenance of Office or Agency. The Property
                           -------------------------------
Trustee shall designate, with the consent of the Administrators, which
consent shall not be unreasonably withheld, an office or offices or agency
or agencies where Preferred Securities Certificates may be surrendered for
registration of transfer or exchange and where notices and demands to or
upon the Issuer Trustees in respect of the Trust Securities Certificates may
be served. The Property Trustee initially designates its Corporate Trust
Office for such purposes. The Property Trustee shall give prompt written
notice to the Depositor, the Administrators and the Holders of any change in
the location of the Securities Register or any such office or agency.

         Section 5.10.     Appointment of Paying Agent. The Paying Agent
                           ---------------------------
shall make Distributions to Holders from the Payment Account and shall
report the amounts of such Distributions to the Property Trustee and the
Administrators. Any Paying Agent shall have the revocable power to withdraw
funds from the Payment Account solely for the purpose of making the
Distributions referred to above. The Property Trustee may revoke such power
and remove any Paying Agent in its sole discretion. The Paying Agent shall
initially be the Property Trustee. Any Person acting as Paying Agent shall
be permitted to resign as Paying Agent upon at least 30 days' written notice
to the Administrators and the Property Trustee. In the event that the
Property Trustee shall no longer be the Paying Agent or a successor Paying
Agent shall resign or its authority to act be revoked, the Property Trustee
shall appoint a successor (which shall be a bank or trust company) that is
reasonably acceptable to the Administrators to act as Paying Agent. Such
successor Paying Agent appointed by the Property Trustee, or any additional
Paying Agent appointed by the Administrators, shall execute and deliver to
the Issuer Trustees an instrument in which such successor Paying Agent or
additional Paying Agent shall agree with the Issuer Trustees that as Paying
Agent, such successor Paying Agent or additional Paying Agent will hold all
sums, if any, held by it for payment to the Holders in trust for the benefit
of the Holders entitled thereto until such sums shall be paid to such
Holders. The Paying Agent shall return all unclaimed funds to the Property
Trustee and upon removal of a Paying Agent such Paying Agent shall also
return all funds in its possession to the Property Trustee. The provisions
of Sections 8.1, 8.3 and 8.6 herein shall apply to

                                     26

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<PAGE>

the Bank also in its role as Paying Agent, for so long as the Bank shall act
as Paying Agent and, to the extent applicable, to any other paying agent
appointed hereunder. Any reference in this Trust Agreement to the Paying
Agent shall include any co-paying agent chosen by the Property Trustee
unless the context requires otherwise.

         Section 5.11.      Ownership of Common Securities by Depositor. On
                            -------------------------------------------
the Closing Date, and on any Date of Delivery, if applicable, the Depositor
shall acquire and retain beneficial and record ownership of the Common
Securities. Neither the Depositor nor any successor Holder of the Common
Securities may transfer less than all of the Common Securities, and the
Depositor or any successor Holder may transfer the Common Securities only
(a) in connection with a consolidation or merger of the Depositor into
another corporation or any conveyance, transfer or lease by the Depositor of
its properties and assets substantially as an entirety to any Person,
pursuant to Section 8.1 of the Indenture, or (b) a transfer to an Affiliate
of the Depositor in compliance with applicable law (including the Securities
Act and applicable state securities and blue sky laws). To the fullest
extent permitted by law, any other attempted transfer of the Common
Securities shall be void. The Administrators shall cause each Common
Securities Certificate issued to the Depositor to contain a legend stating
"THIS CERTIFICATE IS NOT TRANSFERABLE EXCEPT TO A SUCCESSOR IN INTEREST TO
THE DEPOSITOR OR AN AFFILIATE OF THE DEPOSITOR IN COMPLIANCE WITH APPLICABLE
LAW AND SECTION 5.11 OF THE TRUST AGREEMENT."

         Section 5.12.      Notices to Clearing Agency. To the extent that a
                            --------------------------
notice or other communication to the Holders is required under this Trust
Agreement, for so long as Preferred Securities are represented by a Global
Preferred Securities Certificate, the Administrators and the Property
Trustee shall give all such notices and communications specified herein to
be given to the Clearing Agency, and shall have no obligations to the
Owners.

         Section 5.13.      Rights of Holders.
                            -----------------

         (a)      The legal title to all Trust Property shall be vested at
all times in the Issuer Trust and shall be held and administered by the
Property Trustee (in its capacity as such) in accordance with Section 2.9,
and the Holders shall not have any right or title therein other than the
undivided beneficial interest in the assets of the Issuer Trust conferred by
their Trust Securities and they shall have no right to call for any
partition or division of property, profits or rights of the Issuer Trust
except as described below. The Trust Securities shall be personal property
giving only the rights specifically set forth therein and in this Trust
Agreement. The Trust Securities shall have no preemptive or similar rights
and when issued and delivered to Holders against payment of the purchase
price therefor will be validly issued, fully paid and nonassessable
undivided beneficial interests in the Trust Property. Subject to Section 4.8
hereof, the Holders of the Trust Securities, in their capacities as such,
shall be entitled to the same limitation of personal liability extended to
stockholders of private corporations for profit organized under the General
Corporation Law of the State of Delaware.

         (b)      For so long as any Preferred Securities remain
Outstanding, if, upon a Debenture Event of Default, the Debenture Trustee
fails, or the holders of not less than 25% in principal amount of the
outstanding Junior Subordinated Debentures fail, to declare the principal of
all of the Junior Subordinated Debentures to be immediately due and payable,
the Holders of at least 25% in Liquidation Amount of the Preferred
Securities then Outstanding shall have such right to make such declaration
by a notice in writing to the Property Trustee, the Depositor and the
Debenture Trustee.

                                     27

<PAGE>
<PAGE>

         At any time after such a declaration of acceleration with respect
to the Junior Subordinated Debentures has been made and before a judgment or
decree for payment of the money due has been obtained by the Debenture
Trustee as provided in the Indenture, the Holders of a Majority in
Liquidation Amount of the Preferred Securities, by written notice to the
Property Trustee, the Depositor and the Debenture Trustee, may rescind and
annul such declaration and its consequences if:

                  (i)      the Depositor has paid or deposited with the
         Debenture Trustee a sum sufficient to pay:

                           (A)      all overdue installments of interest on all
                  of the Junior Subordinated Debentures,

                           (B)      any accrued Additional Interest on all of
                  the Junior Subordinated Debentures,

                           (C)      the principal of (and premium, if any, on)
                  any Junior Subordinated Debentures which have become due
                  otherwise than by such declaration of acceleration and
                  interest and Additional Interest thereon at the rate borne
                  by the Junior Subordinated Debentures, and

                           (D)      all sums paid or advanced by the Debenture
                  Trustee under the Indenture and the reasonable
                  compensation, expenses, disbursements and advances of the
                  Debenture Trustee and the Property Trustee, their agents
                  and counsel; and

                  (ii)     all Events of Default with respect to the Junior
         Subordinated Debentures, other than the non-payment of the
         principal of the Junior Subordinated Debentures which has become
         due solely by such acceleration, have been cured or waived as
         provided in Section 5.13 of the Indenture.

         The Holders of a Majority in Liquidation Amount of the Preferred
Securities may, on behalf of the Holders of all the Preferred Securities,
waive any past default under the Indenture, except a default in the payment
of principal or interest (unless such default has been cured and a sum
sufficient to pay all matured installments of interest and principal due
otherwise than by acceleration has been deposited with the Debenture
Trustee) or a default in respect of a covenant or provision which under the
Indenture cannot be modified or amended without the consent of the holder of
each outstanding Junior Subordinated Debentures affected thereby. No such
rescission shall affect any subsequent default or impair any right
consequent thereon.

         Upon receipt by the Property Trustee of written notice declaring
such an acceleration, or rescission and annulment thereof, by Holders of the
Preferred Securities all or part of which is represented by Global Preferred
Securities, a record date shall be established for determining Holders of
Outstanding Preferred Securities entitled to join in such notice, which
record date shall be at the close of business on the day the Property
Trustee receives such notice. The Holders on such record date, or their duly
designated proxies, and only such Persons, shall be entitled to join in such
notice, whether or not such Holders remain Holders after such record date;
provided, that, unless such declaration of acceleration, or rescission and
annulment, as the case may be, shall have become effective by virtue of the
requisite percentage having joined in such notice prior to the day which is
90 days after such record date, such notice of declaration of acceleration,
or rescission and annulment, as the case may be, shall automatically and
without further action by any Holder be canceled and of no further effect.
Nothing in

                                     28

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<PAGE>

this paragraph shall prevent a Holder, or a proxy of a Holder, from giving,
after expiration of such 90-day period, a new written notice of declaration
of acceleration, or rescission and annulment thereof, as the case may be,
that is identical to a written notice which has been canceled pursuant to
the proviso to the preceding sentence, in which event a new record date
shall be established pursuant to the provisions of this Section 5.13(b).

         (c)      For so long as any Preferred Securities remain
Outstanding, to the fullest extent permitted by law and subject to the terms
of this Trust Agreement and the Indenture, upon a Debenture Event of
Default, any Holder of Preferred Securities shall have the right to
institute a proceeding directly against the Depositor, pursuant to Section
5.8 of the Indenture, for enforcement of payment to such Holder of the
principal amount of or interest on Junior Subordinated Debentures having an
aggregate principal amount equal to the aggregate Liquidation Amount of the
Preferred Securities of such Holder (a "Direct Action"). Except as set forth
in Section 5.13(b) and this Section 5.13(c) of this Trust Agreement, the
Holders of Preferred Securities shall have no right to exercise directly any
right or remedy available to the holders of, or in respect of, the Junior
Subordinated Debentures.

                                 ARTICLE VI
                                 ----------

                      ACTS OF HOLDERS; MEETINGS; VOTING
                      ---------------------------------

         Section 6.1.      Limitations on Holders' Voting Rights.
                           -------------------------------------

         (a)      Except as provided in this Trust Agreement and in the
Indenture and as otherwise required by law, no Holder of Preferred
Securities shall have any right to vote or in any manner otherwise control
the administration, operation and management of the Issuer Trust or the
obligations of the parties hereto, nor shall anything herein set forth or
contained in the terms of the Trust Securities Certificates be construed so
as to constitute the Holders from time to time as members of an association.

         (b)      So long as any Junior Subordinated Debentures are held by
the Property Trustee on behalf of the Issuer Trust, the Property Trustee
shall not (i) direct the time, method or place of conducting any proceeding
for any remedy available to the Property Trustee, or executing any trust or
power conferred on the Debenture Trustee with respect to such Junior
Subordinated Debentures, (ii) waive any past default that may be waived
under Section 5.13 of the Indenture, (iii) exercise any right to rescind or
annul a declaration that the principal of all the Junior Subordinated
Debentures shall be due and payable, or (iv) consent to any amendment,
modification or termination of the Indenture or the Junior Subordinated
Debentures, where such consent shall be required, without, in each case,
obtaining the prior approval of the Holders of a Majority in Liquidation
Amount of the Preferred Securities; provided, however, that where a consent
under the Indenture would require the consent of each holder of Junior
Subordinated Debentures affected thereby, no such consent shall be given by
the Property Trustee without the prior written consent of each Holder of
Preferred Securities. The Property Trustee shall not revoke any action
previously authorized or approved by a vote of the Holders of Preferred
Securities, except by a subsequent vote of the Holders of Preferred
Securities. The Property Trustee shall notify all Holders of the Preferred
Securities of any notice of default received with respect to the Junior
Subordinated Debentures. In addition to obtaining the foregoing approvals of
the Holders of the Preferred Securities, prior to taking any of the
foregoing actions, the Property Trustee shall, at the expense of the
Depositor, obtain an Opinion of Counsel experienced in such matters to the
effect that such action will not cause the Issuer Trust to fail or cease to
be treated as grantor trust for United States federal income tax purposes.

                                     29

<PAGE>
<PAGE>

         (c)      If any proposed amendment to the Trust Agreement provides
for, or the Issuer Trust otherwise proposes to effect, (i) any action that
would adversely affect in any material respect the interests, powers,
preferences or special rights of the Preferred Securities, whether by way of
amendment to the Trust Agreement or otherwise, or (ii) the dissolution of
the Issuer Trust, other than pursuant to the terms of this Trust Agreement,
then the Holders of Outstanding Preferred Securities as a class will be
entitled to vote on such amendment or proposal and such amendment or
proposal shall not be effective except with the approval of the Holders of a
Majority in Liquidation Amount of the Preferred Securities. Notwithstanding
any other provision of this Trust Agreement, no amendment to this Trust
Agreement may be made if, as a result of such amendment, it would cause the
Issuer Trust fail or cease to be treated as a grantor trust for United
States federal income tax purposes.

         Section 6.2.      Notice of Meetings. Notice of all meetings of the
                           ------------------
Holders, stating the time, place, and purpose of the meeting, shall be given
by the Property Trustee pursuant to Section 10.8 to each Holder of record,
at his registered address, at least 15 days and not more than 90 days before
the meeting. At any such meeting, any business properly before the meeting
may be so considered whether or not stated in the notice of the meeting. Any
adjourned meeting may be held as adjourned without further notice.

         Section 6.3.      Meetings of Holders.
                           -------------------

         (a)      No annual meeting of Holders is required to be held. The
Property Trustee, however, shall call a meeting of Holders to vote on any
matter upon the written request of the Holders of record of 25% or more of
the aggregate Liquidation Amount of the Preferred Securities and the
Administrators or the Property Trustee may, at any time in their discretion,
call a meeting of Holders of Preferred Securities to vote on any matters as
to which Holders are entitled to vote.

         (b)      Holders of a Majority in Liquidation Amount of the
Preferred Securities, present in person or represented by proxy, shall
constitute a quorum at any meeting of Holders of Preferred Securities.

         (c)      If a quorum is present at a meeting, an affirmative vote
by the Holders of record present, in person or by proxy, holding Preferred
Securities representing a Majority in Liquidation Amount of the Preferred
Securities held by the Holders present, either in person or by proxy, at
such meeting shall constitute the action of the Holders of Preferred
Securities, unless this Trust Agreement requires a greater number of
affirmative votes.

         Section 6.4.      Voting Rights. Holders shall be entitled to one
                           -------------
vote for each $25 of Liquidation Amount represented by their Outstanding
Trust Securities in respect of any matter as to which such Holders are
entitled to vote.

         Section 6.5.      Proxies, etc. At any meeting of Holders, any
                           ------------
Holder entitled to vote thereat may vote by proxy, provided that no proxy
shall be voted at any meeting unless it shall have been placed on file with
the Property Trustee, or with such other officer or agent of the Issuer
Trust as the Property Trustee may direct, for verification prior to the time
at which such vote shall be taken. Pursuant to a resolution of the Property
Trustee, proxies may be solicited in the name of the Property Trustee or one
or more officers of the Property Trustee. Only Holders of record shall be
entitled to vote. When Trust Securities are held jointly by several persons,
any one of them may vote at any meeting in person or by proxy in respect of
such Trust Securities, but if more than one of them shall be present at such
meeting in person or by proxy, and such joint owners or their proxies so
present disagree as to any vote to be cast,

                                     30

<PAGE>
<PAGE>

such vote shall not be received in respect of such Trust Securities. A proxy
purporting to be executed by or on behalf of a Holder shall be deemed valid
unless challenged at or prior to its exercise, and the burden of proving
invalidity shall rest on the challenger. No proxy shall be valid more than
three years after its date of execution.

         Section 6.6.      Holder Action by Written Consent. Any action
                           --------------------------------
which may be taken by Holders at a meeting may be taken without a meeting if
Holders holding a Majority in Liquidation Amount of all Trust Securities
entitled to vote in respect of such action (or such larger proportion
thereof as shall be required by any other provision of this Trust Agreement)
shall consent to the action in writing.

         Section 6.7.      Record Date for Voting and Other Purposes. For
                           -----------------------------------------
the purposes of determining the Holders who are entitled to notice of and to
vote at any meeting or by written consent, or to participate in any
Distribution on the Trust Securities in respect of which a record date is
not otherwise provided for in this Trust Agreement, or for the purpose of
any other action, the Administrators (or the Property Trustee if the
Administrators are unable or unwilling to act) may from time to time fix a
date, not more than 90 days prior to the date of any meeting of Holders or
the payment of a Distribution or other action, as the case may be, as a
record date for the determination of the identity of the Holders of record
for such purposes.

         Section 6.8.      Acts of Holders.
                           ---------------

         (a)      Any request, demand, authorization, direction, notice,
consent, waiver or other action provided or permitted by this Trust
Agreement to be given, made or taken by Holders may be embodied in and
evidenced by one or more instruments of substantially similar tenor signed
by such Holders in person or by an agent duly appointed in writing; and,
except as otherwise expressly provided herein, such action shall become
effective when such instrument or instruments are delivered to the Property
Trustee. Such instrument or instruments (and the action embodied therein and
evidenced thereby) are herein sometimes referred to as the "Act" of the
Holders signing such instrument or instruments. Proof of execution of any
such instrument or of a writing appointing any such agent shall be
sufficient for any purpose of this Trust Agreement and (subject to Section
8.1) conclusive in favor of the Issuer Trustees, if made in the manner
provided in this Section 6.8.

         (b)      The fact and date of the execution by any Person of any
such instrument or writing may be proved by the affidavit of a witness of
such execution or by a certificate of a notary public or other officer
authorized by law to take acknowledgments of deeds, certifying that the
individual signing such instrument or writing acknowledged to him the
execution thereof. Where such execution is by a signer acting in a capacity
other than his individual capacity, such certificate or affidavit shall also
constitute sufficient proof of his authority. The fact and date of the
execution of any such instrument or writing, or the authority of the Person
executing the same, may also be proved in any other manner which any Issuer
Trustee or Administrator receiving the same deems sufficient.

         (c)      The ownership of Trust Securities shall be proved by the
Securities Register.

         (d)      Any request, demand, authorization, direction, notice,
consent, waiver or other Act of the Holder of any Trust Security shall bind
every future Holder of the same Trust Security and the Holder of every Trust
Security issued upon the registration of transfer thereof or in exchange
therefor or in lieu thereof in respect of anything done, omitted or suffered
to be done by the Issuer Trustees, the Administrators, or the Issuer Trust
in reliance thereon, whether or not notation of such action is made upon
such Trust Security.

                                     31

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<PAGE>

         (e)      Without limiting the foregoing, a Holder entitled
hereunder to take any action hereunder with regard to any particular Trust
Security may do so with regard to all or any part of the Liquidation Amount
of such Trust Security or by one or more duly appointed agents each of which
may do so pursuant to such appointment with regard to all or any part of
such Liquidation Amount.

         (f)      If any dispute shall arise among the Holders, the
Administrators or the Issuer Trustees with respect to the authenticity,
validity or binding nature of any request, demand, authorization, direction,
consent, waiver or other Act of such Holder or Issuer Trustee under this
Article VI, then the determination of such matter by the Property Trustee
shall be conclusive with respect to such matter.

         Section 6.9.      Inspection of Records. Upon reasonable notice to
                           ---------------------
the Administrators and the Property Trustee, the records of the Issuer Trust
shall be open to inspection by Holders during normal business hours for any
purpose reasonably related to such Holder's interest as a Holder.

                                 ARTICLE VII
                                 -----------

                       REPRESENTATIONS AND WARRANTIES
                       ------------------------------

         Section 7.1.      Representations and Warranties of the Property
                           ----------------------------------------------
Trustee and the Delaware Trustee. The Property Trustee and the Delaware
--------------------------------
Trustee (and any successors thereto at the time of their appointment), each
severally on behalf of and as to itself, hereby represents and warrants for
the benefit of the Depositor and the Holders that:

         (a)      The Property Trustee is a banking corporation duly
organized, validly existing and in good standing under the laws of New York,
with trust power and authority to execute and deliver, and to carry out and
perform its obligations under the terms of this Trust Agreement.

         (b)      The execution, delivery, and performance by the Property
Trustee of this Trust Agreement has been duly authorized by all necessary
corporate action on the part of the Property Trustee; and this Trust
Agreement has been duly executed and delivered by the Property Trustee, and
constitutes a legal, valid and binding obligation of the Property Trustee,
enforceable against it in accordance with its terms, subject to applicable
bankruptcy, reorganization, moratorium, insolvency and other similar laws
affecting creditors' rights generally and to general principles of equity
and the discretion of the court (regardless of whether the enforcement of
such remedies is considered in a proceeding in equity or at law).

         (c)      The execution, delivery and performance of this Trust
Agreement by the Property Trustee does not conflict with or constitute a
breach of the certificate of incorporation or by-laws of the Property
Trustee.

         (d)      At the Time of Delivery, the Property Trustee has not
knowingly created any Liens or encumbrances on the Trust Securities.

         (e)      No consent, approval or authorization of, or registration
with or notice to, any New York State or federal banking authority is
required for the execution, delivery or performance by the Property Trustee,
of this Trust Agreement.

                                     32

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<PAGE>

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

         (g)      The execution, delivery and performance by the Delaware
Trustee of this Trust Agreement has been duly authorized by all necessary
corporate action on the part of the Delaware Trustee; and this Trust
Agreement has been duly executed and delivered by the Delaware Trustee, and
constitutes a legal, valid and binding obligation of the Delaware Trustee,
enforceable against it in accordance with its terms, subject to applicable
bankruptcy, reorganization, moratorium, insolvency and other similar laws
affecting creditors' right generally and to general principles of equity and
the discretion of the court (regardless of whether the enforcement of such
remedies is considered in a proceeding in equity or at law).

         (h)      The execution, delivery and performance of this Trust
Agreement by the Delaware Trustee does not conflict with or constitute a
breach of the certificate of incorporation or by-laws of the Delaware
Trustee.

         (i)      No consent, approval or authorization of, or registration
with or notice to any state or Federal banking authority is required for the
execution, delivery or performance by the Delaware Trustee, of this Trust
Agreement.

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

         Section 7.2.      Representations and Warranties of the Depositor.
                           -----------------------------------------------
The Depositor hereby represents and warrants for the benefit of the Holders
that:

         (a)      the Trust Securities Certificates issued at the Time of
Delivery on behalf of the Issuer Trust have been duly authorized and will
have been duly and validly executed, and, subject to payment therefor,
issued and delivered by the Issuer Trustees pursuant to the terms and
provisions of, and in accordance with the requirements of, this Trust
Agreement, and the Holders will be, as of each such date, entitled to the
benefits of this Trust Agreement; and

         (b)      there are no taxes, fees or other governmental charges
payable by the Issuer Trust (or the Issuer Trustees on behalf of the Issuer
Trust) under the laws of the State of Delaware or any political subdivision
thereof in connection with the execution, delivery and performance by either
the Property Trustee or the Delaware Trustee, as the case may be, of this
Trust Agreement.

                                ARTICLE VIII
                                ------------

                   THE ISSUER TRUSTEES; THE ADMINISTRATORS
                   ---------------------------------------

         Section 8.1.      Certain Duties and Responsibilities.
                           -----------------------------------

         (a)      The duties and responsibilities of the Issuer Trustees and
the Administrators shall be as provided by this Trust Agreement and, in the
case of the Property Trustee, by the Trust Indenture Act. Notwithstanding
the foregoing, no provision of this Trust Agreement shall require the Issuer
Trustees or the Administrators to expend or risk their own funds or
otherwise incur any financial liability in the performance of any of their
duties hereunder, or in the exercise of any of their rights or powers, if
they

                                     33

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<PAGE>

shall have reasonable grounds for believing that repayment of such funds or
adequate indemnity against such risk or liability is not reasonably assured
to it or them. Whether or not therein expressly so provided, every provision
of this Trust Agreement relating to the conduct or affecting the liability
of or affording protection to the Issuer Trustees or the Administrators
shall be subject to the provisions of this Section 8.1. Nothing in this
Trust Agreement shall be construed to release an Administrator or any of the
Issuer Trustees from liability for his or its own negligent action, his or
its own negligent failure to act, or his or its own willful misconduct. To
the extent that, at law or in equity, an Issuer Trustee or Administrator has
duties and liabilities relating to the Issuer Trust or to the Holders, such
Issuer Trustee or Administrator shall not be liable to the Issuer Trust or
to any Holder for such Issuer Trustee's or Administrator's good faith
reliance on the provisions of this Trust Agreement. The provisions of this
Trust Agreement, to the extent that they restrict the duties and liabilities
of the Issuer Trustees and Administrators otherwise existing at law or in
equity, are agreed by the Depositor and the Holders to replace such other
duties and liabilities of the Issuer Trustees and Administrators.

         (b)      All payments made by the Property Trustee or a Paying
Agent in respect of the Trust Securities shall be made only from the revenue
and proceeds from the Trust Property and only to the extent that there shall
be sufficient revenue or proceeds from the Trust Property to enable the
Property Trustee or a Paying Agent to make payments in accordance with the
terms hereof. Each Holder, by his or its acceptance of a Trust Security,
agrees that he or it will look solely to the revenue and proceeds from the
Trust Property to the extent legally available for distribution to it or him
as herein provided and that neither the Issuer Trustees nor the
Administrators are personally liable to it or him for any amount
distributable in respect of any Trust Security or for any other liability in
respect of any Trust Security. This Section 8.1(b) does not limit the
liability of the Issuer Trustees expressly set forth elsewhere in this Trust
Agreement or, in the case of the Property Trustee, in the Trust Indenture
Act.

         (c)      The Property Trustee, before the occurrence of any Event
of Default and after the curing of all Events of Default that may have
occurred, shall undertake to perform only such duties as are specifically
set forth in this Trust Agreement (including pursuant to Section 10.10), and
no implied covenants shall be read into this Trust Agreement against the
Property Trustee. If an Event of Default has occurred (that has not been
cured or waived pursuant to Section 5.13 of the Indenture), the Property
Trustee shall enforce this Trust Agreement for the benefit of the Holders
and shall exercise such of the rights and powers vested in it by this Trust
Agreement, and use the same degree of care and skill in its exercise
thereof, as a prudent person would exercise or use under the circumstances
in the conduct of his or her own affairs.

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

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

                           (A)     the duties and obligations of the Property
                  Trustee shall be determined solely by the express
                  provisions of this Trust Agreement (including pursuant to
                  Section 10.10), and the Property Trustee shall not be
                  liable except for the performance of such duties and
                  obligations as are specifically set forth in this Trust
                  Agreement (including pursuant to Section 10.10); and

                                     34

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<PAGE>

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

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

                  (iii)    the Property Trustee shall not be liable with
         respect to any action taken or omitted to be taken by it in good
         faith in accordance with the direction of the Holders of a Majority
         in Liquidation Amount of the Preferred Securities relating to the
         time, method and place of conducting any proceeding for any remedy
         available to the Property Trustee, or exercising any trust or power
         conferred upon the Property Trustee under this Trust Agreement;

                  (iv)     the Property Trustee's sole duty with respect to the
         custody, safe keeping and physical preservation of the Junior
         Subordinated Debentures and the Payment Account shall be to deal
         with such Property in a similar manner as the Property Trustee
         deals with similar property for its own account, subject to the
         protections and limitations on liability afforded to the Property
         Trustee under this Trust Agreement and the Trust Indenture Act;

                  (v)      the Property Trustee shall not be liable for any
         interest on any money received by it except as it may otherwise
         agree with the Depositor; and money held by the Property Trustee
         need not be segregated from other funds held by it except in
         relation to the Payment Account maintained by the Property Trustee
         pursuant to Section 3.1 and except to the extent otherwise required
         by law;

                  (vi)     the Property Trustee shall not be responsible for
         monitoring the compliance by the Administrators or the Depositor
         with their respective duties under this Trust Agreement, nor shall
         the Property Trustee be liable for the default or misconduct of any
         other Issuer Trustee, the Administrators or the Depositor; and

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

         (e)      The Administrators shall not be responsible for monitoring
the compliance by the Issuer Trustees or the Depositor with their respective
duties under this Trust Agreement, nor shall either Administrator be liable
for the default or misconduct of any other Administrator, the Issuer
Trustees or the Depositor.

                                     35

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<PAGE>

         Section 8.2.      Certain Notices.
                           ---------------

         (a)      Within five Business Days after the occurrence of any
Event of Default actually known to a Responsible Officer of the Property
Trustee, the Property Trustee shall transmit, in the manner and to the
extent provided in Section 10.8, notice of such Event of Default to the
Holders and the Administrators, unless such Event of Default shall have been
cured or waived.

         (b)      Within five Business Days after the receipt of notice of
the Depositor's exercise of its right to defer the payment of interest on
the Junior Subordinated Debentures pursuant to the Indenture, the Property
Trustee shall transmit, in the manner and to the extent provided in Section
10.8, notice of such exercise to the Holders and the Administrators, unless
such exercise shall have been revoked.

         (c)      In the event the Property Trustee receives notice of the
Depositor's exercise of its right to shorten the stated maturity of the
Junior Subordinated Debentures as provided in Section 3.16 of the Indenture,
the Property Trustee shall give notice of such shortening of the stated
maturity to the Holders at least 30 but not more than 60 days before the
effective date thereof.

         Section 8.3.      Certain Rights of Property Trustee. Subject to the
                           ----------------------------------
provisions of Section 8.1:

         (a)      the Property Trustee may rely and shall be fully protected
in acting or refraining from acting in good faith upon any resolution,
Opinion of Counsel, certificate, written representation of a Holder or
transferee, certificate of auditors or any other certificate, statement,
instrument, opinion, report, notice, request, consent, order, appraisal,
bond, debenture, note, other evidence of indebtedness or other paper or
document believed by it to be genuine and to have been signed or presented
by the proper party or parties;

         (b)      any direction or act of the Depositor contemplated by this
Trust Agreement shall be sufficiently evidenced by an Officers' Certificate;

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

         (d)      the Property Trustee may consult with counsel of its own
choosing (which counsel may be counsel to the Depositor or any of its
Affiliates, and may include any of its employees) and the advice of such
counsel shall be full and complete authorization and protection in respect
of any action taken suffered or omitted by it hereunder in good faith and in
reliance thereon and in accordance with such advice; and the Property
Trustee shall have the right at any time to seek instructions concerning the
administration of this Trust Agreement from any court of competent
jurisdiction;

         (e)      the Property Trustee shall be under no obligation to
exercise any of the rights or powers vested in it by this Trust Agreement at
the request or direction of any of the Holders pursuant to this Trust
Agreement, unless such Holders shall have offered to the Property 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; provided that, nothing contained in this Section 8.3(e) shall be
taken to relieve the Property Trustee, upon the occurrence of an Event of
Default, of its obligation to exercise the rights and powers vested in it by
this Trust Agreement;

                                     36

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<PAGE>

         (f)      the Property Trustee shall not be bound to make any
investigation into the facts or matters stated in any resolution,
certificate, statement, instrument, opinion, report, notice, request,
consent, order, approval, bond, debenture, note or other evidence of
indebtedness or other paper or document, unless requested in writing to do
so by one or more Holders, but the Property Trustee may make such further
inquiry or investigation into such facts or matters as it may see fit;

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

         (h)      whenever in the administration of this Trust Agreement the
Property Trustee shall deem it desirable to receive instructions with
respect to enforcing any remedy or right or taking any other action
hereunder, the Property Trustee (i) may request instructions from the
Holders (which instructions may only be given by the Holders of the same
proportion in Liquidation Amount of the Trust Securities as would be
entitled to direct the Property Trustee under the terms of the Trust
Securities in respect of such remedy, right or action), (ii) may refrain
from enforcing such remedy or right or taking such other action until such
instructions are received, and (iii) shall be fully protected in acting in
accordance with such instructions; and

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

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

         Section 8.4.      Not Responsible for Recitals or Issuance of
                           -------------------------------------------
Securities. The recitals contained herein and in the Trust Securities
----------
Certificates shall be taken as the statements of the Issuer Trust, and the
Issuer Trustees and the Administrators do not assume any responsibility for
their correctness. The Issuer Trustees and the Administrators shall not be
accountable for the use or application by the Depositor of the proceeds of
the Junior Subordinated Debentures.

         Section 8.5.      May Hold Securities. Except as provided in the
                           -------------------
definition of the term "Outstanding" in Article I, the Administrators, any
Issuer Trustee or any other agent of any Issuer Trustee or the Issuer Trust,
in its individual or any other capacity, may become the owner or pledgee of
Trust Securities and, subject to Sections 8.8 and 8.13, may otherwise deal
with the Issuer Trust with the same rights it would have if it were not an
Administrator, Issuer Trustee or such other agent.

         Section 8.6.      Compensation; Indemnity; Fees. The Depositor agrees:
                           -----------------------------

         (a)      to pay to the Issuer Trustees from time to time reasonable
compensation for all services rendered by them hereunder (which compensation
shall not be limited by any provision of law in regard to the compensation
of a trustee of an express trust);

                                     37

<PAGE>
<PAGE>

         (b)      to reimburse the Issuer Trustees and the Administrators
upon request for all reasonable expenses, disbursements and advances
incurred or made by the Issuer Trustees in accordance with any provision of
this Trust Agreement (including the reasonable compensation, expenses and
disbursements of its agents and counsel), except any such expense,
disbursement or advance as may be attributable to the Issuer Trustees' bad
faith, negligence or willful misconduct; and

         (c)      to the fullest extent permitted by applicable law, to
indemnify and hold harmless (i) each Issuer Trustee, (ii) each
Administrator, (iii) any Affiliate of any Issuer Trustee, (iv) any officer,
director, shareholder, employee, representative or agent of any Issuer
Trustee, and (v) any employee or agent of the Issuer Trust (referred to
herein as an "Indemnified Person"), from and against any loss, damage,
liability, tax (excluding income taxes, other than taxes referred to in
Sections 4.5 and 4.6 hereunder), penalty, expense or claim of any kind or
nature whatsoever incurred by such Indemnified Person arising out of or in
connection with the creation, operation or dissolution of the Issuer Trust
or any act or omission performed or omitted by such Indemnified Person in
good faith on behalf of the Issuer Trust and in a manner such Indemnified
Person reasonably believed to be within the scope of authority conferred on
such Indemnified Person by this Trust Agreement, except that no Indemnified
Person shall be entitled to be indemnified in respect of any loss, damage or
claim incurred by such Indemnified Person by reason of bad faith, negligence
or willful misconduct with respect to such acts or omissions. The
indemnification provided to an Indemnified Party in this Trust Agreement
shall not be exclusive and nothing in this Trust Agreement shall limit any
indemnification for actions taken in connection with this Trust Agreement or
otherwise which may be available or provided to such Indemnified Party under
other sources.

         The provisions of this Section 8.6 shall survive the termination of
this Trust Agreement.

         No Issuer Trustee may claim any lien or charge on any Trust
Property as a result of any amount due pursuant to this Section 8.6.

         The Depositor, any Administrator and any Issuer Trustee may engage
in or possess an interest in other business ventures of any nature or
description, independently or with others, similar or dissimilar to the
business of the Issuer Trust, and the Issuer Trust and the Holders of Trust
Securities shall have no rights by virtue of this Trust Agreement in and to
such independent ventures or the income or profits derived therefrom, and
the pursuit of any such venture, even if competitive with the business of
the Issuer Trust, shall not be deemed wrongful or improper. Neither the
Depositor, any Administrator nor any Issuer Trustee shall be obligated to
present any particular investment or other opportunity to the Issuer Trust
even if such opportunity is of a character that, if presented to the Issuer
Trust, could be taken by the Issuer Trust, and the Depositor, any
Administrator or any Issuer Trustee shall have the right to take for its own
account (individually or as a partner or fiduciary) or to recommend to
others any such particular investment or other opportunity. Any Issuer
Trustee may engage or be interested in any financial or other transaction
with the Depositor or any Affiliate of the Depositor, or may act as
depository for, trustee or agent for, or act on any committee or body of
holders of, securities or other obligations of the Depositor or its
Affiliates.

         Section 8.7.      Corporate Property Trustee Required; Eligibility of
                           ---------------------------------------------------
Trustees and Administrators.
---------------------------

         (a)      There shall at all times be a Property Trustee hereunder
with respect to the Trust Securities. The Property Trustee shall be a Person
that is a national or state chartered bank and eligible pursuant to the
Trust Indenture Act to act as such and has a combined capital and surplus of
at least $50,000,000. If any such Person publishes reports of condition at
least annually, pursuant to law or to

                                     38

<PAGE>
<PAGE>

the requirements of its supervising or examining authority, then for the
purposes of this Section 8.7, the combined capital and surplus of such
Person shall be deemed to be its combined capital and surplus as set forth
in its most recent report of condition so published. If at any time the
Property Trustee with respect to the Trust Securities shall cease to be
eligible in accordance with the provisions of this Section, it shall resign
immediately in the manner and with the effect hereinafter specified in this
Article VIII. At the time of appointment, the Property Trustee must have
securities rated in one of the three highest rating categories by a
nationally recognized statistical rating organization.

         (b)      There shall at all times be one or more Administrators
hereunder. Each Administrator shall be either a natural person who is at
least 21 years of age or a legal entity that shall act through one or more
persons authorized to bind that entity. An employee, officer or Affiliate of
the Depositor may serve as an Administrator.

         (c)      There shall at all times be a Delaware Trustee. The
Delaware Trustee shall either be (i) a natural person who is at least 21
years of age and a resident of the State of Delaware or (ii) a legal entity
with its principal place of business in the State of Delaware and that
otherwise meets the requirements of applicable Delaware law that shall act
through one or more persons authorized to bind such entity.

         Section 8.8.      Conflicting Interests.
                           ---------------------

         (a)      If the Property Trustee has or shall acquire a conflicting
interest within the meaning of the Trust Indenture Act, the Property Trustee
shall either eliminate such interest or resign, to the extent and in the
manner provided by, and subject to the provisions of, the Trust Indenture
Act and this Trust Agreement.

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

         Section 8.9.      Co-Trustees and Separate Trustee.
                           --------------------------------

         (a)      Unless an Event of Default shall have occurred and be
continuing, at any time or times, for the purpose of meeting the legal
requirements of the Trust Indenture Act or of any jurisdiction in which any
part of the Trust Property may at the time be located, the Property Trustee
shall have power to appoint, and upon the written request of the Property
Trustee, the Depositor and the Administrators shall for such purpose join
with the Property Trustee in the execution, delivery, and performance of all
instruments and agreements necessary or proper to appoint, one or more
Persons approved by the Property Trustee either to act as co-trustee,
jointly with the Property Trustee, of all or any part of such Trust
Property, or to the extent required by law to act as separate trustee of any
such property, in either case with such powers as may be provided in the
instrument of appointment, and to vest in such Person or Persons in the
capacity aforesaid, any property, title, right or power deemed necessary or
desirable, subject to the other provisions of this Section 8.9. Any
co-trustee or separate trustee appointed pursuant to this Section 8.9 shall
either be (i) a natural person who is at least 21 years of age and a
resident of the United States or (ii) a legal entity with its principal
place of business in the United States that shall act through one or more
persons authorized to bind such entity.

         (b)      Should any written instrument from the Depositor be
required by any co-trustee or separate trustee so appointed for more fully
confirming to such co-trustee or separate trustee such

                                     39

<PAGE>
<PAGE>

property, title, right, or power, any and all such instruments shall, on
request, be executed, acknowledged and delivered by the Depositor.

         (c)      Every co-trustee or separate trustee shall, to the extent
permitted by law, but to such extent only, be appointed subject to the
following terms, namely:

                  (i)      The Trust Securities shall be executed by one or more
         Administrators, and the Trust Securities shall be executed and
         delivered and all rights, powers, duties, and obligations hereunder
         in respect of the custody of securities, cash and other personal
         property held by, or required to be deposited or pledged with, the
         Property Trustees specified hereunder, shall be exercised, solely
         by the Property Trustee and not by such co-trustee or separate
         trustee.

                  (ii)     The rights, powers, duties, and obligations hereby
         conferred or imposed upon the Property Trustee in respect of any
         property covered by such appointment shall be conferred or imposed
         upon and exercised or performed by the Property Trustee and such
         co-trustee or separate trustee jointly, as shall be provided in the
         instrument appointing such co-trustee or separate trustee, except
         to the extent that under any law of any jurisdiction in which any
         particular act is to be performed, the Property Trustee shall be
         incompetent or unqualified to perform such act, in which event such
         rights, powers, duties, and obligations shall be exercised and
         performed by such co-trustee or separate trustee.

                  (iii)    The Property Trustee at any time, by an instrument
         in writing executed by it, with the written concurrence of the
         Depositor, may accept the resignation of or remove any co-trustee
         or separate trustee appointed under this Section, and, in case a
         Debenture Event of Default has occurred and is continuing, the
         Property Trustee shall have power to accept the resignation of, or
         remove, any such co-trustee or separate trustee without the
         concurrence of the Depositor. Upon the written request of the
         Property Trustee, the Depositor shall join with the Property
         Trustee in the execution, delivery and performance of all
         instruments and agreements necessary or proper to effectuate such
         resignation or removal. A successor to any co-trustee or separate
         trustee so resigned or removed may be appointed in the manner
         provided in this Section 8.9.

                  (iv)     No co-trustee or separate trustee hereunder shall be
         personally liable by reason of any act or omission of the Property
         Trustee or any other trustee hereunder.

                  (v)      The Property Trustee shall not be liable by reason of
         any act of a co-trustee or separate trustee.

                  (vi)     Any Act of Holders delivered to the Property Trustee
         shall be deemed to have been delivered to each such co-trustee and
         separate trustee.

         Section 8.10.     Resignation and Removal; Appointment of Successor.
                           -------------------------------------------------

         (a)      No resignation or removal of any Issuer Trustee (the
"Relevant Trustee") and no appointment of a successor Issuer Trustee
pursuant to this Article VIII shall become effective until the acceptance of
appointment by the successor Issuer Trustee in accordance with the
applicable requirements of Section 8.11.

                                     40

<PAGE>
<PAGE>

         (b)      Subject to Section 8.10(a), a Relevant Trustee may resign
at any time by giving written notice thereof to the Holders. The Relevant
Trustee shall appoint a successor by requesting from at least three Persons
meeting the eligibility requirements its expenses and charges to serve as
the successor Issuer Trustee on a form provided by the Administrators, and
selecting the Person who agrees to the lowest expenses and charges, subject
to the prior consent of the Depositor which consent shall not be
unreasonably withheld. If the instrument of acceptance by the successor
Issuer Trustee required by Section 8.11 shall not have been delivered to the
Relevant Trustee within 60 days after the giving of such notice of
resignation, the Relevant Trustee may petition, at the expense of the Issuer
Trust, any court of competent jurisdiction for the appointment of a
successor Issuer Trustee.

         (c)      The Property Trustee or the Delaware Trustee may be
removed at any time by Act of the Holders of a Majority in Liquidation
Amount of the Preferred Securities, delivered to the Relevant Trustee (in
its individual capacity and on behalf of the Issuer Trust) (i) for Cause, or
(ii) if a Debenture Event of Default shall have occurred and be continuing
at any time.

         (d)      If a resigning Relevant Trustee shall fail to appoint a
successor, or if a Relevant Trustee shall be removed or become incapable of
acting as Issuer Trustee, or if any vacancy shall occur in the office of any
Issuer Trustee for any cause, the Holders of the Preferred Securities, by
Act of the Holders of record of not less than 25% aggregate Liquidation
Amount of the Preferred Securities then Outstanding delivered to such
Relevant Trustee, shall promptly appoint a successor Issuer Trustee or
Trustees, and such successor Issuer Trustee shall comply with the applicable
requirements of Section 8.11. If no successor Issuer Trustee shall have been
so appointed by the Holders of the Preferred Securities and accepted
appointment in the manner required by Section 8.11, any Holder, on behalf of
himself and all others similarly situated, or any other Issuer Trustee, may
petition any court in the State of Delaware for the appointment of a
successor Issuer Trustee.

         (e)      The Property Trustee shall give notice of each resignation
and each removal of a Relevant Trustee and each appointment of a successor
Issuer Trustee to all Holders in the manner provided in Section 10.8 and
shall give notice to the Depositor and to the Administrators. Each notice
shall include the name of the Relevant Trustee and the address of its
Corporate Trust Office if it is the Property Trustee.

         (f)      Notwithstanding the foregoing or any other provision of
this Trust Agreement, in the event any Delaware Trustee who is a natural
person dies or becomes, in the opinion of the Holders of the Common
Securities, incompetent or incapacitated, the vacancy created by such death,
incompetence or incapacity may be filled by the Property Trustee following
the procedures regarding expenses and charges set forth above (with the
successor in each case being a Person who satisfies the eligibility
requirement for Delaware Trustee set forth in Section 8.7).

         Section 8.11.      Acceptance of Appointment by Successor.
                            --------------------------------------

         (a)      In case of the appointment hereunder of a successor Issuer
Trustee, the retiring Relevant Trustee and each such successor Issuer
Trustee with respect to the Trust Securities shall execute, acknowledge and
deliver an instrument wherein each successor Issuer Trustee shall accept
such appointment and which shall contain such provisions as shall be
necessary or desirable to transfer and confirm to, and to vest in, each
successor Issuer Trustee all the rights, powers, trusts and duties of the
retiring Relevant Trustee with respect to the Trust Securities and the
Issuer Trust, and upon the execution and delivery of such instrument the
resignation or removal of the retiring Relevant Trustee shall become
effective to the extent provided therein and each such successor Issuer
Trustee, without any further act,

                                     41

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<PAGE>

deed or conveyance, shall become vested with all the rights, powers, trusts
and duties of the Relevant Trustee; but, on request of the Issuer Trust or
any successor Issuer Trustee such Relevant Trustee shall duly assign,
transfer and deliver to such successor Issuer Trustee all Trust Property,
all proceeds thereof and money held by such Relevant Trustee hereunder with
respect to the Trust Securities and the Issuer Trust.

         (b)      Upon request of any such successor Issuer Trustee, the
Issuer Trust shall execute any and all instruments for more fully and
certainly vesting in and confirming to such successor Issuer Trustee all
such rights, powers and trusts referred to in the first or second preceding
paragraph, as the case may be.

         (c)      No successor Issuer Trustee shall accept its appointment
unless at the time of such acceptance such successor Issuer Trustee shall be
qualified and eligible under this Article VIII.

         Section 8.12.      Merger, Conversion, Consolidation or Succession
                            -----------------------------------------------
to Business. Any Person into which the Property Trustee or the Delaware
-----------
Trustee may be merged or converted or with which it may be consolidated, or
any Person resulting from any merger, conversion or consolidation to which
such Relevant Trustee shall be a party, or any Person succeeding to all or
substantially all the corporate trust business of such Relevant Trustee,
shall be the successor of such Relevant Trustee hereunder, provided that
such Person shall be otherwise qualified and eligible under this Article
VIII, without the execution or filing of any paper or any further act on the
part of any of the parties hereto.

         Section 8.13.      Preferential Collection of Claims Against
                            -----------------------------------------
Depositor or Issuer Trust. If and when the Property Trustee shall be or
-------------------------
become a creditor of the Depositor (or any other obligor upon Junior
Subordinated Debentures or the Trust Securities), the Property Trustee shall
be subject to the provisions of the Trust Indenture Act regarding the
collection of claims against the Depositor or the Issuer Trust (or any such
other obligor) as is required by the Trust Indenture Act.

         Section 8.14.      Trustee May File Proofs of Claim. In case of any
                            --------------------------------
receivership, insolvency, liquidation, bankruptcy, reorganization,
arrangement, adjustment, composition, or other similar judicial proceeding
relative to the Issuer Trust or any other obligor upon the Trust Securities
or the property of the Issuer Trust or of such other obligor, the Property
Trustee (irrespective of whether any Distributions on the Trust Securities
shall then be due and payable and irrespective of whether the Property
Trustee shall have made any demand on the Issuer Trust for the payment of
any past due Distributions) shall be entitled and empowered, to the fullest
extent permitted by law, by intervention in such proceeding or otherwise:

         (a)      to file and prove a claim for the whole amount of any
Distributions owing and unpaid in respect of the Trust Securities and to
file such other papers or documents as may be necessary or advisable in
order to have the claims of the Property Trustee (including any claim for
the reasonable compensation, expenses, disbursements and advances of the
Property Trustee, its agents and counsel) and of the Holders allowed in such
judicial proceeding, and

         (b)      to collect and receive any monies or other property
payable or deliverable on any such claims and to distribute the same; and
any custodian, receiver, assignee, trustee, liquidator, sequestrator or
other similar official in any such judicial proceeding is hereby authorized
by each Holder to make such payments to the Property Trustee and, in the
event the Property Trustee shall consent to the making of such payments
directly to the Holders, to pay to the Property Trustee any amount due it
for the reasonable compensation, expenses, disbursements and advances of the
Property Trustee, its agents and counsel, and any other amounts due the
Property Trustee.

                                     42

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<PAGE>

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

         Section 8.15.      Reports by Property Trustee.
                            ---------------------------

         (a)      Within 60 days of January 31 of each year commencing with
January 31, 2002, the Property Trustee shall transmit to all Holders in
accordance with Section 10.8, and to the Depositor, a brief report dated as
of the immediately preceding January 31 with respect to:

                  (i)      its eligibility under Section 8.7 or, in lieu
         thereof, if to the best of its knowledge it has continued to be
         eligible under said Section, a written statement to such effect;
         and

                  (ii)     any change in the property and funds in its
         possession as Property Trustee since the date of its last report
         and any action taken by the Property Trustee in the performance of
         its duties hereunder which it has not previously reported and which
         in its opinion materially affects the Trust Securities.

         (b)      In addition, the Property Trustee shall transmit to
Holders such reports concerning the Property Trustee and its actions under
this Trust Agreement as may be required pursuant to the Trust Indenture Act
at the times and in the manner provided pursuant thereto as set forth in
Section 10.10 of this Trust Agreement.

         (c)      A copy of each such report shall, at the time of such
transmission to Holders, be filed by the Property Trustee with the
Depositor.

         Section 8.16.      Reports to the Property Trustee. The Depositor
                            -------------------------------
and the Administrators on behalf of the Issuer Trust shall provide to the
Property Trustee such documents, reports and information as required by
Section 314 of the Trust Indenture Act and the compliance certificate
required by Section 314(a) of the Trust Indenture Act in the form, in the
manner and at the times required by Section 314 of the Trust Indenture Act,
as set forth in Section 10.10 of this Trust Agreement. The Depositor and the
Administrators shall annually file with the Property Trustee a certificate
specifying whether such Person is in compliance with all the terms and
covenants applicable to such Person hereunder.

         Section 8.17.      Evidence of Compliance with Conditions Precedent.
                            ------------------------------------------------
Each of the Depositor and the Administrators on behalf of the Issuer Trust
shall provide to the Property Trustee such evidence of compliance with any
conditions precedent, if any, provided for in this Trust Agreement that
relate to any of the matters set forth in Section 314(c) of the Trust
Indenture Act as set forth in Section 10.10 of this Trust Agreement. Any
certificate or opinion required to be given by an officer pursuant to
Section 314(c)(1) of the Trust Indenture Act shall be given in the form of
an Officers' Certificate.

         Section 8.18.      Number of Issuer Trustees.
                            -------------------------

         (a)      The number of Issuer Trustees shall be two. The Property
Trustee and the Delaware Trustee may be the same Person, in which event the
number of Issuer Trustees shall be one.

                                     43

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<PAGE>

         (b)      If an Issuer Trustee ceases to hold office for any reason,
a vacancy shall occur. The vacancy shall be filled with an Issuer Trustee
appointed in accordance with Section 8.10.

         (c)      The death, resignation, retirement, removal, bankruptcy,
incompetence or incapacity to perform the duties of an Issuer Trustee shall
not operate to dissolve, terminate or annul the Issuer Trust or terminate
this Trust Agreement.

         Section 8.19.      Delegation of Power.
                            -------------------

         (a)      Any Administrator may, by power of attorney consistent
with applicable law, delegate to any other natural person over the age of 21
his or her power for the purpose of executing any documents contemplated in
Section 2.7(a) or making any governmental filing.

         (b)      The Administrators shall have power to delegate from time
to time to such of their number the doing of such things and the execution
of such instruments either in the name of the Issuer Trust or the names of
the Administrators or otherwise as the Administrators may deem expedient, to
the extent such delegation is not prohibited by applicable law or contrary
to the provisions of this Trust Agreement.

         Section 8.20.      Appointment of Administrators.
                            -----------------------------

         (a)      The Administrators (other than the initial Administrators)
shall be appointed by the Holders of a Majority in Liquidation Amount of the
Common Securities and all Administrators (including the initial
Administrators) may be removed by the Holders of a Majority in Liquidation
Amount of the Common Securities or may resign at any time. If at any time
there is no Administrator, the Property Trustee or any Holder who has been a
Holder of Trust Securities for at least six months may petition any court of
competent jurisdiction for the appointment of one or more Administrators.

         (b)      Whenever a vacancy in the number of Administrators shall
occur, until such vacancy is filled by the appointment of an Administrator
in accordance with this Section 8.20, the Administrators in office,
regardless of their number (and notwithstanding any other provision of this
Trust Agreement), shall have all the powers granted to the Administrators
and shall discharge all the duties imposed upon the Administrators by this
Trust Agreement.

         (c)      Notwithstanding the foregoing or any other provision of
this Trust Agreement, in the event any Administrator or a Delaware Trustee
who is a natural person dies or becomes, in the opinion of the Holders of a
Majority in Liquidation Amount of the Common Securities, incompetent or
incapacitated, the vacancy created by such death, incompetence or incapacity
may be filled by the remaining Administrators, if there were at least two of
them prior to such vacancy and by the Depositor, if there were not two such
Administrators immediately prior to such vacancy (with the successor in each
case being a Person who satisfies the eligibility requirement for
Administrators or Delaware Trustee, as the case may be, set forth in Section
8.7).

         (d)      Except as otherwise provided in this Trust Agreement or by
applicable law, any one Administrator may execute any document or otherwise
take any action which the Administrators are authorized to take under this
Trust Agreement.

                                     44

<PAGE>
<PAGE>

                                 ARTICLE IX
                                 ----------

                     DISSOLUTION, LIQUIDATION AND MERGER
                     -----------------------------------

         Section 9.1.      Dissolution Upon Expiration Date. Unless earlier
                           --------------------------------
dissolved, the Issuer Trust shall automatically dissolve on June 8, 2031
(the "Expiration Date").

         Section 9.2.      Early Dissolution. The first to occur of any of
                           -----------------
the following events is an "Early Termination Event," upon the occurrence of
which the Issuer Trust shall dissolve:

         (a)      the occurrence of any Bankruptcy Event with respect to the
Depositor, unless the Depositor shall transfer the Common Securities as
provided by Section 5.11, in which case this provision shall refer instead
to any Bankruptcy Event with respect to the successor Holder of the Common
Securities;

         (b)      delivery of the written direction to the Property Trustee
from the Holder of the Common Securities at any time to dissolve the Issuer
Trust and, after satisfaction of liabilities to creditors of the Issuer
Trust as provided by applicable law, to distribute the Junior Subordinated
Debentures to Holders in exchange for the Preferred Securities (which
direction, subject to Section 9.4(a), is optional and wholly within the
discretion of the Holder of the Common Securities);

         (c)      the redemption of all of the Preferred Securities in
connection with the redemption of all the Junior Subordinated Debentures; and

         (d)      the entry of an order for dissolution of the Issuer Trust by a
court of competent jurisdiction.

         Section 9.3.      Termination. The respective obligations and
                           -----------
responsibilities of the Issuer Trustees, the Administrators and the Issuer
Trust created and continued hereby shall terminate upon the latest to occur
of the following: (a) the distribution by the Property Trustee to Holders of
all amounts required to be distributed hereunder upon the liquidation of the
Issuer Trust pursuant to Section 9.4, or upon the redemption of all of the
Trust Securities pursuant to Section 4.2, (b) the payment of any expenses
owed by the Issuer Trust, (c) the discharge of all administrative duties of
the Administrators, including the performance of any tax reporting
obligations with respect to the Issuer Trust or the Holders, and (d) the
filing of a certificate of cancellation with the Delaware Secretary of State
pursuant to Section 3810 of the Delaware Business Trust Act.

         Section 9.4.      Liquidation.
                           -----------

         (a)      If an Early Termination Event specified in clause (a), (b)
or (d) of Section 9.2 occurs or upon the Expiration Date, the Issuer Trust
shall be liquidated by the Property Trustee as expeditiously as the Property
Trustee determines to be possible by distributing, after satisfaction of
liabilities to creditors of the Issuer Trust as provided by applicable law,
to each Holder a Like Amount of Junior Subordinated Debentures, subject to
Section 9.4(d). Notice of liquidation shall be given by the Property Trustee
by first-class mail, postage prepaid, mailed not later than 15 nor more than
45 days prior to the Liquidation Date to each Holder of Trust Securities at
such Holder's address appearing in the Securities Register. All notices of
liquidation shall:

                  (i)      state the Liquidation Date;

                                     45

<PAGE>
<PAGE>

                  (ii)     state that, from and after the Liquidation Date, the
         Trust Securities will no longer be deemed to be Outstanding and any
         Trust Securities Certificates not surrendered for exchange will be
         deemed to represent a Like Amount of Junior Subordinated
         Debentures; and

                  (iii)    provide such information with respect to the
         mechanics by which Holders may exchange Trust Securities
         Certificates for Junior Subordinated Debentures, or if Section
         9.4(d) applies receive a Liquidation Distribution, as the
         Administrators or the Property Trustee shall deem appropriate.

         (b)      Except where Section 9.2(c) or 9.4(d) applies, in order to
effect the liquidation of the Issuer Trust and distribution of the Junior
Subordinated Debentures to Holders, the Property Trustee shall establish a
record date for such distribution (which shall be not more than 30 days
prior to the Liquidation Date) and, either itself acting as exchange agent
or through the appointment of a separate exchange agent, shall establish
such procedures as it shall deem appropriate to effect the distribution of
Junior Subordinated Debentures in exchange for the Outstanding Trust
Securities Certificates.

         (c)      Except where Section 9.2(c) or 9.4(d) applies, after the
Liquidation Date, (i) the Trust Securities will no longer be deemed to be
Outstanding, (ii) the Clearing Agency for the Preferred Securities or its
nominee, as the registered Holder of the Global Preferred Securities
Certificate, shall receive a registered global certificate or certificates
representing the Junior Subordinated Debentures to be delivered upon such
distribution with respect to Preferred Securities held by the Clearing
Agency or its nominee, and (iii) any Trust Securities Certificates not held
by the Clearing Agency for the Preferred Securities or its nominee as
specified in clause (ii) above will be deemed to represent Junior
Subordinated Debentures having a principal amount equal to the stated
Liquidation Amount of the Trust Securities represented thereby and bearing
accrued and unpaid interest in an amount equal to the accumulated and unpaid
Distributions on such Trust Securities until such certificates are presented
to the Securities Registrar for transfer or reissuance.

         (d)      If, notwithstanding the other provisions of this Section
9.4, whether because of an order for dissolution entered by a court of
competent jurisdiction or otherwise, distribution of the Junior Subordinated
Debentures is not practical, or if any Early Termination Event specified in
clause (c) of Section 9.2 occurs, the Trust Property shall be liquidated,
and the Issuer Trust shall be liquidated by the Property Trustee in such
manner as the Property Trustee determines. In such event, on the date of the
dissolution of the Issuer Trust, Holders will be entitled to receive out of
the assets of the Issuer Trust available for distribution to Holders, after
satisfaction of liabilities to creditors of the Issuer Trust as provided by
applicable law, an amount equal to the aggregate of the Liquidation Amount
per Trust Security plus accumulated and unpaid Distributions thereon to the
date of payment (such amount being the "Liquidation Distribution"). If, upon
any such dissolution, the Liquidation Distribution can be paid only in part
because the Issuer Trust has insufficient assets available to pay in full
the aggregate Liquidation Distribution, then, subject to the next succeeding
sentence, the amounts payable by the Issuer Trust on the Trust Securities
shall be paid on a pro rata basis (based upon Liquidation Amounts). The
Holders of the Common Securities will be entitled to receive Liquidation
Distributions upon any such liquidation pro rata (determined as aforesaid)
with Holders of Preferred Securities, except that, if a Debenture Event of
Default has occurred and is continuing, the Preferred Securities shall have
a priority over the Common Securities as provided in Section 4.3.

                                     46

<PAGE>
<PAGE>

         (e)      Following the dissolution of the Issuer Trust and after
the completion of the winding up of the affairs of the Issuer Trust, one of
the Issuer Trustees shall file a certificate of cancellation with the
Delaware Secretary of State.

         Section 9.5.      Mergers, Consolidations, Amalgamations or
                           -----------------------------------------
Replacements of the Issuer Trust. The Issuer Trust may not merge with or
--------------------------------
into, consolidate, amalgamate, or be replaced by, or convey, transfer or
lease its properties and assets substantially as an entirety to, any entity,
except pursuant to this Section 9.5 and Section 9.4. At the request of the
Holders of the Common Securities, and with the consent of the Holders of a
Majority in Liquidation Amount of the Preferred Securities but without the
consent of the Delaware Trustee or the Property Trustee, the Issuer Trust
may merge with or into, consolidate, amalgamate, or be replaced by or
convey, transfer or lease its properties and assets substantially as an
entirety to a trust organized as such under the laws of any state; provided,
however, that (a) such successor entity either (i) expressly assumes all of
the obligations of the Issuer Trust with respect to the Securities or (ii)
substitutes for the Preferred Securities other securities having
substantially the same terms as the Preferred Securities (the "Successor
Securities") so long as the Successor Securities have the same priority as
the Preferred Securities with respect to distributions and payments upon
liquidation, redemption and otherwise and which are then listed or listed
upon notification of issuance on any national securities exchange or
automated quotation system on which the trust preferred securities are then
listed, (b) a trustee of such successor entity possessing the same powers
and duties as the Property Trustee is appointed to hold the Junior
Subordinated Debentures, (c) such merger, consolidation, amalgamation,
replacement, conveyance, transfer or lease does not cause the Preferred
Securities (including any Successor Securities) to be downgraded by any
nationally recognized statistical rating organization if the Preferred
Securities were rated by any nationally recognized statistical rating
organization immediately prior to such merger, consolidation, amalgamation,
replacement, conveyance, transfer or lease, (d) such merger, consolidation,
amalgamation, replacement, conveyance, transfer or lease does not adversely
affect the rights, preferences and privileges of the holders of the
Preferred Securities (including any Successor Securities) in any material
respect, (e) such successor entity has a purpose substantially identical to
that of the Issuer Trust, (f) prior to such merger, consolidation,
amalgamation, replacement, conveyance, transfer or lease, the Issuer Trustee
has received an Opinion of Counsel from independent counsel experienced in
such matters to the effect that (i) such merger, consolidation,
amalgamation, replacement, conveyance, transfer or lease does not adversely
affect the rights preferences and privileges of the holders of the Preferred
Securities (including any Successor Securities) in any material respect, and
(ii) following such merger, consolidation, amalgamation, replacement,
conveyance, transfer or lease, neither the Issuer Trust nor such successor
entity will be required to register as an "investment company" under the
Investment Company Act, and (g) the Depositor or any permitted transferee to
whom it has transferred the Common Securities hereunder owns all of the
common securities of such successor entity and guarantees the obligations of
such successor entity under the Successor Securities at least to the extent
provided by the Guarantee Agreement. Notwithstanding the foregoing, the
Issuer Trust shall not, except with the consent of Holders of 100% in
Liquidation Amount of the Preferred Securities, consolidate, amalgamate,
merge with or into, or be replaced by or convey, transfer or lease its
properties and assets substantially as an entirety to any other entity or
permit any other entity to consolidate, amalgamate, merge with or into, or
replace it if such consolidation, amalgamation, merger, replacement,
conveyance, transfer or lease would cause the Issuer Trust or the successor
entity to fail or cease to be classified as a grantor trust for United
States federal income tax purposes. Any merger or similar agreement shall be
executed by the Administrators on behalf of the Issuer Trust.

         Section 9.6.      Listing of the Junior Subordinated Debentures. In
                           ---------------------------------------------
the event that the Junior Subordinated Debentures are distributed to the
holders of the Preferred Securities for any reason, the

                                     47

<PAGE>
<PAGE>

Depositor and the Issuer Trust will use their respective commercially
reasonable efforts to cause the Junior Subordinated Debentures to be listed,
subject to notice of issuance, at the time of such distribution, upon the
Nasdaq National Market or such other interdealer quotation system or
securities exchange or exchanges upon which the Preferred Securities are
then listed. The Depositor will thereafter comply with all registration,
filing and reporting requirements of the Nasdaq National Market or such
other interdealer quotation system or exchange or upon which the Junior
Subordinated Debentures are listed.

                                  ARTICLE X
                                  ---------

                          MISCELLANEOUS PROVISIONS
                          ------------------------

         Section 10.1.      Limitation of Rights of Holders. Except as set
                            -------------------------------
forth in Section 9.2, the bankruptcy, dissolution, termination, death or
incapacity of any Person having an interest, beneficial or otherwise, in
Trust Securities shall not operate to terminate this Trust Agreement or
dissolve, terminate or annul the Issuer Trust, nor entitle the legal
representatives or heirs of such Person or any Holder for such Person, to
claim an accounting, take any action or bring any proceeding in any court
for a partition or winding-up of the arrangements contemplated hereby, nor
otherwise affect the rights, obligations and liabilities of the parties
hereto or any of them.

         Section 10.2.      Amendment.
                            ---------

         (a)      This Trust Agreement may be amended from time to time by
the Property Trustee, the Administrators and the Holders of a Majority in
Liquidation Amount of the Common Securities, without the consent of any
Holder of the Preferred Securities, (i) to cure any ambiguity, correct or
supplement any provision herein which may be inconsistent with any other
provision herein, or to make any other provisions with respect to matters or
questions arising under this Trust Agreement; provided, however, that such
amendment shall not adversely affect in any material respect the interests
of any Holder or (ii) to modify, eliminate, or add to any provisions of this
Trust Agreement to such extent as shall be necessary to ensure that the
Issuer Trust will be classified as a grantor trust (and not an association
taxable as a corporation) for United States federal income tax purposes at
any time that any Trust Securities are Outstanding or to ensure that the
Issuer Trust will not be required to register as an "investment company"
under the Investment Company Act.

         (b)      Except as provided in Section 6.1(c) or Section 10.2(c),
any provision of this Trust Agreement may be amended by the Property
Trustee, the Administrators, and the Holders of a Majority in Liquidation
Amount of the Common Securities with (i) the consent of Holders of a
Majority in Liquidation Amount of the Preferred Securities and (ii) receipt
by the Issuer Trustees of an Opinion of Counsel to the effect that such
amendment or the exercise of any power granted to the Issuer Trustees in
accordance with such amendment will not cause the Issuer Trust to fail or
cease to be classified as a grantor trust for United States federal income
tax purposes or affect the Issuer Trust's exemption from status of an
"investment company" under the Investment Company Act.

         (c)      In addition to and notwithstanding any other provision in
this Trust Agreement, without the consent of each affected Holder (such
consent being obtained in accordance with Section 6.3 or 6.6 hereof), this
Trust Agreement may not be amended to (i) change the amount or timing of any
Distribution on the Trust Securities or otherwise adversely affect the
amount of any Distribution required to be made in respect of the Trust
Securities as of a specified date or (ii) restrict the right of a Holder to
institute suit for the enforcement of any such payment on or after such
date. Notwithstanding any other provision

                                     48

<PAGE>
<PAGE>

herein, without the unanimous consent of the Holders (such consent being
obtained in accordance with Section 6.3 or 6.6), this Section 10.2(c) may
not be amended.

         (d)      Notwithstanding any other provisions of this Trust
Agreement, no Issuer Trustee shall enter into or consent to any amendment to
this Trust Agreement which would cause the Issuer Trust to fail or cease to
qualify for the exemption from status as an "investment company" under the
Investment Company Act or to fail or cease to be classified as a grantor
trust for United States federal income tax purposes.

         (e)      Notwithstanding anything in this Trust Agreement to the
contrary, without the consent of the Depositor and the Administrators, this
Trust Agreement may not be amended in a manner which imposes any additional
obligation on the Depositor or the Administrators.

         (f)      In the event that any amendment to this Trust Agreement is
made, the Administrators or the Property Trustee shall promptly provide to
the Depositor a copy of such amendment.

         (g)      Neither the Property Trustee nor the Delaware Trustee
shall be required to enter into any amendment to this Trust Agreement which
affects its own rights, duties or immunities under this Trust Agreement. The
Property Trustee shall be entitled to receive an Opinion of Counsel and an
Officers' Certificate stating that any amendment to this Trust Agreement is
in compliance with this Trust Agreement.

         (h)      Any amendments to this Trust Agreement pursuant to Section
10.2(a) shall become effective when notice of such amendment is given to the
Holders of the Trust Securities.

         Section 10.3.      Separability. In case any provision in this Trust
                            ------------
Agreement or in the Trust Securities Certificates shall be invalid, illegal
or unenforceable, the validity, legality, and enforceability of the
remaining provisions shall not in any way be affected or impaired thereby.

         Section 10.4.      Governing Law. THIS TRUST AGREEMENT AND THE
                            -------------
RIGHTS AND OBLIGATIONS OF EACH OF THE HOLDERS, THE ISSUER TRUST, THE
DEPOSITOR, THE ISSUER TRUSTEES, AND THE ADMINISTRATORS WITH RESPECT TO THIS
TRUST AGREEMENT AND THE TRUST SECURITIES SHALL BE CONSTRUED IN ACCORDANCE
WITH AND GOVERNED BY THE LAWS OF THE STATE OF DELAWARE, WITHOUT REGARD TO
THE CONFLICT OF LAWS PROVISIONS THEREOF.

         Section 10.5.      Payments Due on Non-Business Day. If the date
                            --------------------------------
fixed for any payment on any Trust Security shall be a day that is not a
Business Day, then such payment need not be made on such date but may be
made on the next succeeding day that is a Business Day (except as otherwise
provided in Section 4.2(d)), except that, if such Business Day is in the
next succeeding calendar year, payment on any Trust Security shall be made
on the immediately preceding Business Day, in each case, with the same force
and effect as though made on the date fixed for such payment, and no
Distributions shall accumulate on such unpaid amount for the period after
such date.

         Section 10.6.      Successors and Assigns. This Trust Agreement
                            ----------------------
shall be binding upon and shall inure to the benefit of any successor to the
Depositor, the Issuer Trust, the Administrators, and any Issuer Trustee,
including any successor by operation of law. Except in connection with a
consolidation, merger or sale involving the Depositor that is permitted
under Article VIII of the Indenture and pursuant to

                                     49

<PAGE>
<PAGE>

which the assignee agrees in writing to perform the Depositor's obligations
hereunder, the Depositor shall not assign its obligations hereunder.

         Section 10.7.      Headings. The Article and Section headings are
                            --------
for convenience only and shall not affect the construction of this Trust
Agreement.

         Section 10.8.      Reports, Notices and Demands.
                            ----------------------------

         (a)      Any report, notice, demand or other communication that by
any provision of this Trust Agreement is required or permitted to be given
or served to or upon any Holder or the Depositor may be given or served in
writing by deposit thereof, first class postage prepaid, in the United
States mail, hand delivery or facsimile transmission, in each case,
addressed, (i) in the case of a Holder of Preferred Securities, to such
Holder as such Holder's name and address may appear on the Securities
Register; and (ii) in the case of the Holder of Common Securities or the
Depositor, to Allegiant Bancorp, Inc., 2122 Kratky Road, St. Louis, Missouri
63114, Attention: Corporate Secretary, facsimile no.: (314) 692-8200 or to
such other address as may be specified in a written notice by the Depositor
to the Property Trustee. Such notice, demand or other communication to or
upon a Holder shall be deemed to have been sufficiently given or made, for
all purposes, upon hand delivery, mailing or transmission. Such notice,
demand or other communication to or upon the Depositor shall be deemed to
have been sufficiently given or made only upon actual receipt of the writing
by the Depositor.

         (b)      Any notice, demand or other communication which by any
provision of this Trust Agreement is required or permitted to be given or
served to or upon the Issuer Trust, the Property Trustee, the Delaware
Trustee, the Administrators, or the Issuer Trust shall be given in writing
addressed (until another address is published by the Issuer Trust) as
follows: (i) with respect to the Property Trustee to Bankers Trust Company,
Four Albany Street, 4th Floor, New York, NY 10006, Attention: Corporate
Trust and Agency Group Corporate Market Services; (ii) with respect to the
Delaware Trustee to Bankers Trust (Delaware), E.A. Delle Donne Corporate
Center, Montgomery Building, 1101 Centre Road, Suite 200, Wilmington,
Delaware, 19805-1266, Attention: Corporate Trust Administration, and (iii)
with respect to the Administrators, to them at the address above for notices
to the Depositor, marked "Attention: Office of the Secretary." Such notice,
demand or other communication to or upon the Issuer Trust or the Property
Trustee shall be deemed to have been sufficiently given or made only upon
actual receipt of the writing by the Issuer Trust, the Property Trustee, or
such Administrator.

         Section 10.9.      Agreement Not to Petition. Each of the Issuer
                            -------------------------
Trustees, the Administrators and the Depositor agree for the benefit of the
Holders that, until at least one year and one day after the Issuer Trust has
been terminated in accordance with Article IX, they shall not file, or join
in the filing of, a petition against the Issuer Trust under any bankruptcy,
insolvency, reorganization or other similar law (including, without
limitation, the United States Bankruptcy Code) (collectively, "Bankruptcy
Laws") or otherwise join in the commencement of any proceeding against the
Issuer Trust under any Bankruptcy Law. In the event the Depositor takes
action in violation of this Section 10.9, the Property Trustee agrees, for
the benefit of Holders, that at the expense of the Depositor, it shall file
an answer with the bankruptcy court or otherwise properly contest the filing
of such petition by the Depositor against the Issuer Trust or the
commencement of such action and raise the defense that the Depositor has
agreed in writing not to take such action and should be estopped and
precluded therefrom and such other defenses, if any, as counsel for the
Issuer Trustee or the Issuer Trust may assert. If any Issuer Trustee or
Administrator takes action in violation of this Section 10.9, the Depositor
agrees, for the benefit of the Holders, that at the expense of the
Depositor, it shall file an answer with the bankruptcy court or otherwise
properly contest the filing of such petition by such Person against the
Depositor or the

                                     50

<PAGE>
<PAGE>

commencement of such action and raise the defense that such Person has
agreed in writing not to take such action and should be estopped and
precluded therefrom and such other defenses, if any, as counsel for the
Depositor or the Issuer Trust may assert. The provisions of this Section
10.9 shall survive the termination of this Trust Agreement.

         Section 10.10.    Trust Indenture Act; Conflict with Trust Indenture
                           --------------------------------------------------
Act.
---
         (a)      Trust Indenture Act; Application. (i) This Trust Agreement
                  --------------------------------
is subject to the provisions of the Trust Indenture Act that are required to
be a part of this Trust Agreement and shall, to the extent applicable, be
governed by such provisions; (ii) if and to the extent that any provision of
this Trust Agreement limits, qualifies or conflicts with the duties imposed
by Sections 310 to 317, inclusive, of the Trust Indenture Act, such imposed
duties shall control; (iii) for purposes of this Trust Agreement, the
Property Trustee, to the extent permitted by applicable law and/or the rules
and regulations of the Commission, shall be the only Issuer Trustee which is
a trustee for the purposes of the Trust Indenture Act; and (iv) the
application of the Trust Indenture Act to this Trust Agreement shall not
affect the nature of the Preferred Securities and the Common Securities as
equity securities representing undivided beneficial interests in the assets
of the Issuer Trust.

         (b)      Lists of Holders of Preferred Securities. (i) Each of the
                  ----------------------------------------
Depositor and the Administrators on behalf of the Issuer Trust shall provide
the Property Trustee with such information as is required under Section
312(a) of the Trust Indenture Act at the times and in the manner provided in
Section 312(a) and (ii) the Property Trustee shall comply with its
obligations under Sections 310(b), 311 and 312(b) of the Trust Indenture
Act.

         (c)      Reports by the Property Trustee. Within 60 days after
                  -------------------------------
January 31 of each year, commencing January 31, 2002, the Property Trustee
shall provide to the Holders of the Trust Securities such reports as are
required by Section 313 of the Trust Indenture Act, if any, in the form, in
the manner and at the times provided by Section 313 of the Trust Indenture
Act. The Property Trustee shall also comply with the requirements of Section
313(d) of the Trust Indenture Act.

         (d)      Periodic Reports to Property Trustee. Each of the
                  ------------------------------------
Depositor and the Administrators on behalf of the Issuer Trust shall provide
to the Property Trustee, the Commission and the Holders of the Trust
Securities, as applicable, such documents, reports and information as
required by Section 314(a)(1)-(3) (if any) of the Trust Indenture Act and
the compliance certificates required by Section 314(a)(4) and (c) of the
Trust Indenture Act (provided that any certificate to be provided pursuant
to Section 314(a)(4) of the Trust Indenture Act shall be provided within 120
days of the end of each fiscal year of the Issuer Trust).

         (e)      Evidence of Compliance with Conditions Precedent. Each of
                  ------------------------------------------------
the Depositor and the Administrators on behalf of the Issuer Trust shall
provide to the Property Trustee such evidence of compliance with any
conditions precedent, if any, provided for in this Trust Agreement which
relate to any of the matters set forth in Section 314(c) of the Trust
Indenture Act. Any certificate or opinion required to be given pursuant to
Section 314(c) shall comply with Section 314(e) of the Trust Indenture Act.

         (f)      Disclosure of Information. The disclosure of information
                  -------------------------
as to the names and addresses of the Holders of Trust Securities in
accordance with Section 312 of the Trust Indenture Act, regardless of the
source from which such information was derived, shall not be deemed to be a
violation of any existing law or any law hereafter enacted which does not
specifically refer to Section 312 of the Trust

                                     51

<PAGE>
<PAGE>

Indenture Act, nor shall the Property Trustee be held accountable by reason
of mailing any material pursuant to a request made under Section 312(b) of
the Trust Indenture Act.

         Section 10.11.    Acceptance of Terms of Trust Agreement, Guarantee
                           -------------------------------------------------
and Indenture. THE RECEIPT AND ACCEPTANCE OF A TRUST SECURITY OR ANY
-------------
INTEREST THEREIN BY OR ON BEHALF OF A HOLDER OR ANY BENEFICIAL OWNER,
WITHOUT ANY SIGNATURE OR FURTHER MANIFESTATION OF ASSENT, SHALL CONSTITUTE
THE UNCONDITIONAL ACCEPTANCE BY THE HOLDER AND ALL OTHERS HAVING A
BENEFICIAL INTEREST IN SUCH TRUST SECURITY OF ALL THE TERMS AND PROVISIONS
OF THIS TRUST AGREEMENT, THE GUARANTEE AGREEMENT AND THE INDENTURE, AND THE
AGREEMENT TO THE SUBORDINATION PROVISIONS AND OTHER TERMS OF THE GUARANTEE
AGREEMENT AND THE INDENTURE, AND SHALL CONSTITUTE THE AGREEMENT OF THE
ISSUER TRUST, SUCH HOLDER AND SUCH OTHERS THAT THE TERMS AND PROVISIONS OF
THIS TRUST AGREEMENT SHALL BE BINDING, OPERATIVE AND EFFECTIVE AS BETWEEN
THE ISSUER TRUST AND SUCH HOLDER AND SUCH OTHERS.

         Section 10.12.    Counterparts. This Trust Agreement may contain
                           ------------
more than one counterpart of the signature page and this Trust Agreement may
be executed by the affixing of the signature of each of the Issuer Trustees
to one of such counterpart signature pages. All of such counterpart
signature pages shall be read as though one, and they shall have the same
force and effect as though all of the signers had signed a single signature
paper.

                  [SIGNATURES APPEAR ON THE FOLLOWING PAGE]

                                     52

<PAGE>
<PAGE>

         IN WITNESS WHEREOF, the parties have caused this Amended and
Restated Trust Agreement to be duly executed as of the day and year first
above written.

                                ALLEGIANT BANCORP, INC., as Depositor

                                By:
                                   --------------------------------------------
                                   Shaun R. Hayes
                                   President and Chief Executive Officer

                                BANKERS TRUST COMPANY, as Property Trustee

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

                                BANKERS TRUST (DELAWARE), as Delaware Trustee

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

Subscribed to and Accepted by, as the Initial Administrators:

---------------------------------------
Shaun R. Hayes

---------------------------------------
Thomas A. Daiber

                                     53

<PAGE>
<PAGE>

                                  EXHIBIT A
                                  ---------

        [CERTIFICATE OF TRUST FILED WITH DELAWARE SECRETARY OF STATE]

                                     54

<PAGE>
<PAGE>

                                  EXHIBIT B
                                  ---------

                 [FORM OF CERTIFICATE DEPOSITARY AGREEMENT]

                                     55

<PAGE>
<PAGE>

                                  EXHIBIT C
                                  ---------

              THIS CERTIFICATE IS NOT TRANSFERABLE EXCEPT TO A
           SUCCESSOR IN INTEREST TO THE DEPOSITOR OR AN AFFILIATE
             OF THE DEPOSITOR IN COMPLIANCE WITH APPLICABLE LAW
                   AND SECTION 5.11 OF THE TRUST AGREEMENT

Certificate Number:  C-1                    Number of Common Securities:  46,754

                  Certificate Evidencing Common Securities
                                     of
                         Allegiant Capital Trust II
                          _____% Common Securities
                (liquidation amount $25 per Common Security)

         Allegiant Capital Trust II, a statutory business trust created
under the laws of the State of Delaware (the "Issuer Trust"), hereby
certifies that Allegiant Bancorp, Inc. (the "Holder") is the registered
owner of Forty-Six Thousand Seven Hundred Fifty-Four (46,754) common
securities of the Issuer Trust representing undivided beneficial interest in
the assets of the Issuer Trust and designated the Allegiant Capital Trust II
_____% Common Securities (liquidation amount $25 per Common Security) (the
"Common Securities"). Except in accordance with Section 5.11 of the Trust
Agreement (as defined below), the Common Securities are not transferable and
any attempted transfer hereof other than in accordance therewith shall be
void. The designations, rights, privileges, restrictions, preferences and
other terms and provisions of the Common Securities are set forth in, and
this certificate and the Common Securities represented hereby are issued and
shall in all respects be subject to the terms and provisions of, the Amended
and Restated Trust Agreement of the Issuer Trust, dated as of _____ __,
2001, as the same may be amended from time to time (the "Trust Agreement")
among Allegiant Bancorp, Inc., as Depositor, Bankers Trust Company, as
Property Trustee, Bankers Trust (Delaware), as Delaware Trustee, the
Administrators named therein and the Holders of Trust Securities, including
the designation of the terms of the Common Securities as set forth therein.
The Issuer Trust will furnish a copy of the Trust Agreement to the Holder
without charge upon written request to the Issuer Trust at its principal
place of business.

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

         Terms used but not defined herein have the meanings set forth in
the Trust Agreement.

         This Common Security shall be governed by the laws of the State of
Delaware (without giving effect to conflict of laws principles).

                                     56

<PAGE>
<PAGE>

         IN WITNESS WHEREOF, one of the Administrators of the Issuer Trust
has executed this certificate this __ day of _____, 2001 on behalf of the
Issuer Trust.

                                      Allegiant Capital Trust II

                                      By:
                                         --------------------------------------
                                         Shaun R. Hayes, Administrator

AUTHENTICATED AND REGISTERED:
BANKERS TRUST COMPANY,
as Property Trustee and Securities Registrar

By:
   -----------------------------------------
   Name:
   Authorized Signatory

                                     57

<PAGE>
<PAGE>

                                  EXHIBIT D
                                  ---------

         [IF THE PREFERRED SECURITY CERTIFICATE IS TO BE A GLOBAL PREFERRED
SECURITY CERTIFICATE, INSERT - This Preferred Security Certificate is a
Global Preferred Security Certificate within the meaning of the Trust
Agreement hereinafter referred to and is registered in the name of a
Depositary or a nominee of a Depositary. This Preferred Security Certificate
is exchangeable for Preferred Security Certificates registered in the name
of a person other than the Depositary or its nominee only in the limited
circumstances described in the Trust Agreement and may not be transferred
except as a whole by the Depositary to a nominee of the Depositary or by a
nominee of the Depositary to the Depositary or another nominee of the
Depositary, except in the limited circumstances described in the Trust
Agreement.

         Unless this Preferred Security Certificate is presented by an
authorized representative of The Depository Trust Company, a New York
Corporation ("DTC"), to Allegiant Capital Trust II or its agent for
registration of transfer, exchange or payment, and any Preferred Security
Certificate issued is registered in the name of such nominee as is requested
by an authorized representative of DTC (and any payment is made to such
entity as is requested by an authorized representative of DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO A
PERSON IS WRONGFUL inasmuch as the registered owner hereof, has an interest
herein.]

                                     58

<PAGE>
<PAGE>

CERTIFICATE NUMBER:  P-1             NUMBER OF PREFERRED SECURITIES:  1,200,000

                             CUSIP NO. 01747P209
                 CERTIFICATE EVIDENCING PREFERRED SECURITIES
                                     OF
                         ALLEGIANT CAPITAL TRUST II

                   _____% CUMULATIVE PREFERRED SECURITIES
               (LIQUIDATION AMOUNT $25 PER PREFERRED SECURITY)

         Allegiant Capital Trust II, a statutory business trust created
under the laws of the State of Delaware (the "Issuer Trust"), hereby
certifies that Cede (the "Holder") is the registered owner of $30,000,000
aggregate liquidation amount of preferred securities of the Issuer Trust
representing a preferred undivided beneficial interest in the assets of the
Issuer Trust and designated the Allegiant Capital Trust II _____% Preferred
Securities (liquidation amount $25 per Preferred Security) (the "Preferred
Securities"). The Preferred Securities are transferable on the books and the
records of the Issuer Trust, in person or by a duly authorized attorney,
upon surrender of this certificate duly endorsed and in proper form for
transfer as provided in Section 5.5 of the Trust Agreement (as defined
below). The designations, rights, privileges, restrictions, preferences and
other terms and provisions of the Preferred Securities are set forth in, and
this certificate and the Preferred Securities represented hereby are issued
and shall in all respects be subject to the terms and provisions of, the
Amended and Restated Trust Agreement of the Issuer Trust, dated as of _____
__, 2001, as the same may be amended from time to time (the "Trust
Agreement"), among Allegiant Bancorp, Inc., as Depositor, Bankers Trust
Company, as Property Trustee, Bankers Trust (Delaware), as Delaware Trustee,
and the Administrators named therein, the Holders of Trust Securities,
including the designation of the terms of the Preferred Securities as set
forth therein. The Holder is entitled to the benefits of the Guarantee
Agreement entered into by Allegiant Bancorp, Inc., a Missouri corporation,
and Bankers Trust Company, as Guarantee Trustee, dated as of _____ __, 2001,
as the same may be amended from time to time (the "Guarantee Agreement"), to
the extent provided therein. The Issuer Trust will furnish a copy of the
Trust Agreement and the Guarantee Agreement to the Holder without charge
upon written request to the Issuer Trust at its principal place of business
or registered office.

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

         This Preferred Security shall be governed by the laws of the State
of Delaware (without giving effect to conflict of laws principles).

                                     59

<PAGE>
<PAGE>

         IN WITNESS WHEREOF, one of the Administrators of the Issuer Trust
has executed this certificate this __ day of _____, 2001.

                                      ALLEGIANT CAPITAL TRUST II

                                      By:
                                         --------------------------------------
                                         Shaun R. Hayes, Administrator

AUTHENTICATED AND REGISTERED:
BANKERS TRUST COMPANY,
as Property Trustee and Securities Registrar

By:
   -----------------------------------------
   Name:
   Authorized Signatory

                                     60

<PAGE>
<PAGE>

                                 ASSIGNMENT

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

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

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

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

and irrevocably appoints:

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

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

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

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

Date:
         -----------------------------------------

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

The signature(s) should be guaranteed by an eligible guarantor institution
(banks, stockbrokers, savings and loan associations and credit unions with
membership in an approved signature guarantee medallion program), pursuant
to S.E.C. Rule 17Ad-15.

                                     61

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