Document:

EX-10.2

THIS WARRANT AND THE SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE HEREOF HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) OR ANY STATE
SECURITIES LAWS AND MAY NOT BE SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER
THE SECURITIES ACT AND UNDER APPLICABLE STATE SECURITIES LAWS OR P-COM, INC. SHALL HAVE RECEIVED AN
OPINION OF COUNSEL THAT REGISTRATION OF SUCH SECURITIES UNDER THE SECURITIES ACT AND UNDER THE
PROVISIONS OF APPLICABLE STATE SECURITIES LAWS IS NOT REQUIRED.

WARRANT TO PURCHASE

SHARES OF COMMON STOCK

OF

WAVE WIRELESS CORPORATION

Expires September 20, 2010

No.: W-05-10 Number of Shares: 2,394,016

Date of Issuance: September 20, 2005

FOR VALUE RECEIVED, subject to the provisions hereinafter set forth, the undersigned, Wave
Wireless Corporation, a Delaware corporation (together with its successors and assigns, the
"Issuer”), hereby certifies that North Sound Legacy Institutional Fund LLC or its
registered assigns is entitled to subscribe for and purchase, during the Term (as hereinafter
defined), up to Two Million One Hundred Two Thousand Nine Hundred Sixteen (2,102,916) shares
(subject to adjustment as hereinafter provided) of the duly authorized, validly issued, fully paid
and non-assessable Common Stock of the Issuer, at an exercise price per share equal to the Warrant
Price then in effect, subject, however, to the provisions and upon the terms and conditions
hereinafter set forth. Capitalized terms used in this Warrant and not otherwise defined herein
shall have the respective meanings specified in Section 8 hereof.

1. Term. The term of this Warrant shall commence on September 20, 2005 and shall
expire at 5:00 p.m., eastern time, on September 20, 2010 (such period being the “Term”).

2. Method of Exercise Payment; Issuance of New Warrant; Transfer and Exchange.

(a) Time of Exercise. The purchase rights represented by this Warrant may be
exercised in whole or in part during the Term.

(b) Method of Exercise. The Holder hereof may exercise this Warrant, in whole or in
part, by the surrender of this Warrant (with the exercise form attached hereto duly executed) at
the principal office of the Issuer, and by the payment to the Issuer of an amount of consideration
therefor equal to the Warrant Price in effect on the date of such exercise multiplied by the number
of shares of Warrant Stock with respect to which this Warrant is then being exercised, payable at
such Holder’s election (i) by certified or official bank check or by wire transfer to an account
designated by the Issuer, (ii) by “cashless exercise” in accordance with the provisions of
subsection (c) of this Section 2, or (iii) by a combination of the foregoing methods of payment
selected by the Holder of this Warrant.

(c) Cashless Exercise. The Holder may exercise this Warrant by a cashless exercise
and shall receive the number of shares of Common Stock equal to an amount (as determined below) by
surrender of this Warrant at the principal office of the Issuer together with the properly endorsed
Notice of Exercise in which event the Issuer shall issue to the Holder a number of shares of Common
Stock computed using the following formula:

X = Y — (A)(Y)

B

	 	 	 	Where X = the number of shares of Common Stock to be issued to the Holder.

	 	 	 	Y = the number of shares of Common Stock purchasable upon
exercise of all of the Warrant or, if only a portion of the Warrant is being
exercised, the portion of the Warrant being exercised.

	 	 	 
	A =

	 	the Warrant Price.
	 
	 	 
	B =

	 	the Per Share Market Value of one share of Common Stock.

(d) Issuance of Stock Certificates. In the event of any exercise of the rights
represented by this Warrant in accordance with and subject to the terms and conditions hereof, (i)
certificates for the shares of Warrant Stock so purchased shall be dated the date of such exercise
and delivered to the Holder hereof within a reasonable time, not exceeding three (3) Trading Days
after such exercise or, at the request of the Holder, issued and delivered to the Depository Trust
Company (“DTC”) account on the Holder’s behalf via the Deposit Withdrawal Agent Commission
System (“DWAC”) within a reasonable time, not exceeding three (3) Trading Days after such
exercise, and the Holder hereof shall be deemed for all purposes to be the holder of the shares of
Warrant Stock so purchased as of the date of such exercise and (ii) unless this Warrant has
expired, a new Warrant representing the number of shares of Warrant Stock, if any, with respect to
which this Warrant shall not then have been exercised (less any amount thereof which shall have
been canceled in payment of the Warrant Price as hereinabove provided) shall also be issued to the
Holder hereof at the Issuer’s expense within such time. All shares of Warrant Stock received upon
exercise of this Warrant shall be freely tradeable and will not be subject to a restrictive legend
on the certificates evidencing such shares.

(e) Transferability of Warrant. This Warrant may be transferred by a Holder by
surrendering this Warrant at the principal office of the Issuer, properly endorsed (by the Holder
executing an assignment in the form attached hereto) and upon payment of any necessary transfer tax
or other governmental charge imposed upon such transfer. If transferred pursuant to this
paragraph, this Warrant may be transferred on the books of the Issuer by the Holder hereof in
person or by duly authorized attorney. This Warrant is exchangeable at the principal office of the
Issuer for Warrants for the purchase of the same aggregate number of shares of Warrant Stock, each
new Warrant to represent the right to purchase such number of shares of Warrant Stock as the Holder
hereof shall designate at the time of such exchange. All Warrants issued on transfers or exchanges
shall be dated the Original Issue Date and shall be identical with this Warrant except as to the
name of the Holder or the number of shares of Warrant Stock, as applicable.

(f) Continuing Rights of Holder. The Issuer will, at the time of or at any time after
each exercise of this Warrant, upon the request of the Holder hereof, acknowledge in writing the
extent, if any, of its continuing obligation to afford to such Holder all rights to which such
Holder shall continue to be entitled after such exercise in accordance with the terms of this
Warrant, provided that if any such Holder shall fail to make any such request, the failure
shall not affect the continuing obligation of the Issuer to afford such rights to such Holder.

3. Stock Fully Paid; Reservation and Listing of Shares; Covenants.

(a) Stock Fully Paid. The Issuer represents, warrants, covenants and agrees that all
shares of Warrant Stock which may be issued upon the exercise of this Warrant or otherwise
hereunder will, when issued in accordance with the terms of this Warrant, be duly authorized,
validly issued, fully paid and non-assessable and free from all taxes, liens and charges created by
or through the Issuer. The Issuer further covenants and agrees that during the period within which
this Warrant may be exercised, the Issuer will at all times have authorized and reserved for the
purpose of the issue upon exercise of this Warrant a sufficient number of shares of Common Stock to
provide for the exercise of this Warrant.

(b) Reservation. If any shares of Common Stock required to be reserved for issuance
upon exercise of this Warrant or as otherwise provided hereunder require registration or
qualification with any governmental authority under any federal or state law before such shares may
be so issued, the Issuer will in good faith use its reasonable best efforts as expeditiously as
possible at its expense to cause such shares to be duly registered or qualified. If the Issuer
shall list any shares of Common Stock on any securities exchange or market it will, at its expense,
list thereon, maintain and increase when necessary such listing, of, all shares of Warrant Stock
from time to time issued upon exercise of this Warrant or as otherwise provided hereunder and, to
the extent permissible under the applicable securities exchange rules, all unissued shares of
Warrant Stock which are at any time issuable hereunder, so long as any shares of Common Stock shall
be so listed. The Issuer will also so list on each securities exchange or market, and will
maintain such listing of, any other securities which the Holder of this Warrant shall be entitled
to receive upon the exercise of this Warrant if at the time any securities of the same class shall
be listed on such securities exchange or market by the Issuer.

(c) Covenants. The Issuer shall not by any action including, without limitation,
amending the Certificate of Incorporation or the by-laws of the Issuer, or through any
reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities
or any other action, avoid or seek to avoid the observance or performance of any of the terms of
this Warrant, but will at all times in good faith assist in the carrying out of all such terms and
in the taking of all such actions as may be necessary or appropriate to protect the rights of the
Holder hereof against dilution (to the extent specifically provided herein) or impairment. Without
limiting the generality of the foregoing, the Issuer will (i) not permit the par value, if any, of
its Common Stock to exceed the then effective Warrant Price, (ii) not amend or modify any provision
of the Certificate of Incorporation or by-laws of the Issuer in any manner that would adversely
affect the rights of the Holders of the Warrants in their capacity as Holders of the Warrants,
(iii) take all such action as may be reasonably necessary in order that the Issuer may validly and
legally issue fully paid and nonassessable shares of Common Stock, free and clear of any liens,
claims, encumbrances and restrictions (other than as provided herein) upon the exercise of this
Warrant, and (iv) use its reasonable best efforts to obtain all such authorizations, exemptions or
consents from any public regulatory body having jurisdiction thereof as may be reasonably necessary
to enable the Issuer to perform its obligations under this Warrant.

(d) Loss, Theft, Destruction of Warrants. Upon receipt of an affidavit of loss and
other evidence satisfactory to the Issuer of the ownership of and the loss, theft, destruction or
mutilation of any Warrant and upon receipt of indemnity or security satisfactory to the Issuer or,
in the case of any such mutilation, upon surrender and cancellation of such Warrant, the Issuer
will make and deliver, in lieu of such lost, stolen, destroyed or mutilated Warrant, a new Warrant
of like tenor and representing the right to purchase the same number of shares of Common Stock.

4. Adjustment of Warrant Price and Warrant Share Number. The number of shares of
Common Stock for which this Warrant is exercisable, and the price at which such shares may be
purchased upon exercise of this Warrant, shall be subject to adjustment from time to time as set
forth in this Section 4. The Issuer shall give the Holder notice of any event described below which
requires an adjustment pursuant to this Section 4 in accordance with Section 5. Notwithstanding
anything contained herein to the contrary, the Warrant Price shall not be adjusted pursuant to
Section 4(d) or (e) hereof to a price that is less than the Per Share Market Value on the Original
Issue Date.

(a) Recapitalization, Reorganization, Reclassification, Consolidation, Merger or Sale.

(i) In case the Issuer after the Original Issue Date shall do any of the following
(each, a “Triggering Event”): (a) consolidate or merge with or into another
corporation where the holders of outstanding Voting Stock prior to such merger or
consolidation do not own over 50% of the outstanding Voting Stock of the merged or
consolidated entity immediately after such merger or consolidation, or (b) sell all or
substantially all of its properties or assets to any other Person, or (c) change the Common
Stock to the same or different number of shares of any class or classes of stock, whether by
reclassification, exchange, substitution or otherwise (other than by way of a stock split or
combination of shares or stock dividends provided for in Section 4(b)), or (d) effect a
capital reorganization (other than by way of a stock split or combination of shares or stock
dividends provided for in Section 4(b)), then, and in the case of each such Triggering
Event, proper provision shall be made so that, upon the basis and the terms and in the
manner provided in this Warrant, the Holder of this Warrant shall be entitled upon the
exercise hereof at any time after the consummation of such Triggering Event, to the extent
this Warrant is not exercised prior to such Triggering Event, to receive at the Warrant
Price in effect at the time immediately prior to the consummation of such Triggering Event
in lieu of the Common Stock issuable upon such exercise of this Warrant prior to such
Triggering Event, the securities, cash and property to which such Holder would have been
entitled upon the consummation of such Triggering Event if such Holder had exercised the
rights represented by this Warrant immediately prior thereto, subject to adjustments
(subsequent to such corporate action) as nearly equivalent as possible to the adjustments
provided for elsewhere in this Section 4. The Issuer will not effect any consolidation,
merger or sale or conveyance unless prior to the consummation thereof, the successor or
acquiring entity (if other than the Issuer) and, if an entity different from the successor
or acquiring entity, the entity whose capital stock or assets the holders of the Common
Stock of the Issuer are entitled to receive as a result of such consolidation, merger or
sale or conveyance assumes by written instrument the obligations under this Section 4 and
the obligations to deliver to the holder of this Warrant such shares of stock, securities or
assets as, in accordance with the foregoing provisions, the holder may be entitled to
acquire.

(ii) Notwithstanding anything contained in this Warrant to the contrary, a Triggering
Event shall not be deemed to have occurred if, prior to the consummation thereof, each
Person (other than the Issuer) which may be required to deliver any securities, cash or
property upon the exercise of this Warrant as provided herein shall assume, by written
instrument delivered to, and reasonably satisfactory to, the Holder of this Warrant, (A) the
obligations of the Issuer under this Warrant (and if the Issuer shall survive the
consummation of such Triggering Event, such assumption shall be in addition to, and shall
not release the Issuer from, any continuing obligations of the Issuer under this Warrant)
and (B) the obligation to deliver to such Holder such shares of securities, cash or property
as, in accordance with the foregoing provisions of this subsection (a), such Holder shall be
entitled to receive, and such Person shall have similarly delivered to such Holder a written
acknowledgement executed by the President or Chief Financial Officer of the Issuer, stating
that this Warrant shall thereafter continue in full force and effect and the terms hereof
(including, without limitation, all of the provisions of this subsection (a)) shall be
applicable to the securities, cash or property which such Person may be required to deliver
upon any exercise of this Warrant or the exercise of any rights pursuant hereto.

(b) Stock Dividends, Subdivisions and Combinations. If at any time the Issuer shall:

(i) make or issue or set a record date for the holders of its Common Stock for the
purpose of entitling them to receive a dividend payable in, or other distribution of, shares
of Common Stock,

(ii) effect a stock split of its outstanding shares of Common Stock into a larger
number of shares of Common Stock, or

(iii) combine its outstanding shares of Common Stock into a smaller number of shares of
Common Stock,

then (1) the number of shares of Common Stock for which this Warrant is exercisable immediately
after the occurrence of any such event shall be adjusted to equal the number of shares of Common
Stock which a record holder of the same number of shares of Common Stock for which this Warrant is
exercisable immediately prior to the occurrence of such event would own or be entitled to receive
after the happening of such event, and (2) the Warrant Price then in effect shall be adjusted to
equal (A) the Warrant Price then in effect multiplied by the number of shares of Common Stock for
which this Warrant is exercisable immediately prior to the adjustment divided by (B) the number of
shares of Common Stock for which this Warrant is exercisable immediately after such adjustment.

Notwithstanding the foregoing, if such record date shall have been fixed and such dividend is not
fully paid or if such distribution is not fully made on the date fixed therefor, the Warrant Price
shall be adjusted pursuant to this paragraph as of the time of actual payment of such dividends or
distributions.

(c) Form of Warrant after Adjustments. The form of this Warrant need not be changed
because of any adjustments in the Warrant Price or the number and kind of Securities purchasable
upon the exercise of this Warrant.

5. Notice of Adjustments. Whenever the Warrant Price or Warrant Share Number shall be
adjusted pursuant to Section 4 hereof (for purposes of this Section 5, each an “adjustment”), the
Issuer shall cause its Chief Financial Officer to prepare and execute a certificate setting forth,
in reasonable detail, the event requiring the adjustment, the amount of the adjustment, the method
by which such adjustment was calculated, and the Warrant Price and Warrant Share Number after
giving effect to such adjustment, and shall cause copies of such certificate to be delivered to the
Holder of this Warrant promptly after each adjustment.

6. Fractional Shares. No fractional shares of Warrant Stock will be issued in
connection with and exercise hereof, but in lieu of such fractional shares, the Issuer shall make a
cash payment therefor equal in amount to the product of the applicable fraction multiplied by the
Per Share Market Value then in effect.

7. Ownership Cap and Certain Exercise Restrictions. Notwithstanding anything to the
contrary set forth in this Warrant, at no time may a Holder of this Warrant exercise this Warrant
if the number of shares of Common Stock to be issued pursuant to such exercise would exceed, when
aggregated with all other shares of Common Stock owned by such Holder at such time, the number of
shares of Common Stock which would result in such Holder owning more than 4.999% of all of the
Common Stock outstanding at such time; provided, however, that upon a holder of this Warrant
providing the Issuer with sixty-one (61) days notice (pursuant to Section 12 hereof) (the “Waiver
Notice”) that such Holder would like to waive this Section 7 with regard to any or all shares of
Common Stock issuable upon exercise of this Warrant, this Section 7 will be of no force or effect
with regard to all or a portion of the Warrant referenced in the Waiver Notice; provided, further,
that this provision shall be of no further force or effect during the sixty-one (61) days
immediately preceding the expiration of the term of this Warrant.

8. Definitions. For the purposes of this Warrant, the following terms have the
following meanings:

"Capital Stock” means and includes (i) any and all shares, interests,
participations or other equivalents of or interests in (however designated) corporate stock,
including, without limitation, shares of preferred or preference stock, (ii) all partnership
interests (whether general or limited) in any Person which is a partnership, (iii) all
membership interests or limited liability company interests in any limited liability
company, and (iv) all equity or ownership interests in any Person of any other type.

"Certificate of Incorporation” means the Certificate of Incorporation of the
Issuer as in effect on the Original Issue Date, and as hereafter from time to time amended,
modified, supplemented or restated in accordance with the terms hereof and thereof and
pursuant to applicable law.

"Common Stock” means the Common Stock, par value $.0001 per share, of the
Issuer and any other Capital Stock into which such stock may hereafter be changed.

"Holders” mean the Persons who shall from time to time own any Warrant. The
term “Holder” means one of the Holders.

"Independent Appraiser” means a nationally recognized or major regional
investment banking firm or firm of independent certified public accountants of recognized
standing (which may be the firm that regularly examines the financial statements of the
Issuer) that is regularly engaged in the business of appraising the Capital Stock or assets
of corporations or other entities as going concerns, and which is not affiliated with either
the Issuer or the Holder of any Warrant.

"Issuer” means Wave Wireless Corporation, a Delaware corporation, and its
successors.

"Majority Holders” means at any time the Holders of Warrants exercisable for at
least 51% of the shares of Warrant Stock issuable under the Warrants at the time
outstanding.

"Nasdaq” means the Nasdaq National Market or the Nasdaq SmallCap Market.

"Original Issue Date” means September 20, 2005.

"OTC Bulletin Board” means the over-the-counter electronic bulletin board.

"Person” means an individual, corporation, limited liability company,
partnership, joint stock company, trust, unincorporated organization, joint venture,
governmental authority or other entity of whatever nature.

"Per Share Market Value” means on any particular date (a) the average of the
closing bid and asked price per share of the Common Stock on such date on Nasdaq or another
registered national stock exchange on which the Common Stock is then listed, or if there is
no such price on such date, then the average of the closing bid and asked price on such
exchange or quotation system on the date nearest preceding such date, or (b) if the Common
Stock is not listed then on Nasdaq or any registered national stock exchange, the closing
bid price for a share of Common Stock in the over-the-counter market, as reported by the OTC
Bulletin Board or in the National Quotation Bureau Incorporated or similar organization or
agency succeeding to its functions of reporting prices) at the close of business on such
date, or (c) if the Common Stock is not then reported by the OTC Bulletin Board or the
National Quotation Bureau Incorporated (or similar organization or agency succeeding to its
functions of reporting prices), then the average of the “Pink Sheet” quotes for the relevant
conversion period, as determined in good faith by the holder, or (d) if the Common Stock is
not then publicly traded the fair market value of a share of Common Stock as determined by
an Independent Appraiser selected in good faith by the Majority Holders; provided,
however, that the Issuer, after receipt of the determination by such Independent
Appraiser, shall have the right to select an additional Independent Appraiser, in which
case, the fair market value shall be equal to the average of the determinations by each such
Independent Appraiser; and provided, further that all determinations of the
Per Share Market Value shall be appropriately adjusted for any stock dividends, stock splits
or other similar transactions during such period. The determination of fair market value by
an Independent Appraiser shall be based upon the fair market value of the Issuer determined
on a going concern basis as between a willing buyer and a willing seller and taking into
account all relevant factors determinative of value, and shall be final and binding on all
parties. .

"Securities” means any debt or equity securities of the Issuer, whether now or
hereafter authorized, any instrument convertible into or exchangeable for Securities or a
Security, and any option, warrant or other right to purchase or acquire any Security.
“Security” means one of the Securities.

"Securities Act” means the Securities Act of 1933, as amended, or any similar
federal statute then in effect.

"Subsidiary” means any corporation at least 50% of whose outstanding Voting
Stock shall at the time be owned directly or indirectly by the Issuer or by one or more of
its Subsidiaries, or by the Issuer and one or more of its Subsidiaries.

"Term” has the meaning specified in Section 1 hereof.

"Trading Day” means (a) a day on which the Common Stock is traded on Nasdaq, or
(b) if the Common Stock is not listed on Nasdaq, a day on which the Common Stock is traded
on any other registered national stock exchange, or (c) if the Common Stock is not traded on
any other registered national stock exchange, a day on which the Common Stock is traded on
the OTC Bulletin Board, or (d) if the Common Stock is not traded on the OTC Bulletin Board,
a day on which the Common Stock is quoted in the over-the-counter market as reported by the
National Quotation Bureau Incorporated (or any similar organization or agency succeeding its
functions of reporting prices); provided, however, that in the event that
the Common Stock is not listed or quoted as set forth in (a), (b) or (c) hereof, then
Trading Day shall mean any day except Saturday, Sunday and any day which shall be a legal
holiday or a day on which banking institutions in the State of New York are authorized or
required by law or other government action to close.

"Voting Stock” means, as applied to the Capital Stock of any corporation,
Capital Stock of any class or classes (however designated) having ordinary voting power for
the election of a majority of the members of the board of directors (or other governing
body) of such corporation, other than Capital Stock having such power only by reason of the
happening of a contingency.

"Warrants” means the Warrants issued and sold pursuant to the Purchase
Agreement, including, without limitation, this Warrant, and any other warrants of like tenor
issued in substitution or exchange for any thereof pursuant to the provisions of Section
2(c), 2(d) or 2(e) hereof or of any of such other Warrants.

"Warrant Price” initially means $0.001 as such Warrant Price may be adjusted
from time to time as shall result from the adjustments specified in this Warrant, including
Section 4 hereto.

"Warrant Share Number” means at any time the aggregate number of shares of
Warrant Stock which may at such time be purchased upon exercise of this Warrant, after
giving effect to all prior adjustments and increases to such number made or required to be
made under the terms hereof.

"Warrant Stock” means Common Stock issuable upon exercise of any Warrant or
Warrants or otherwise issuable pursuant to any Warrant or Warrants.

9. Other Notices. In case at any time:

	 	(A)	 	the Issuer shall make any
distributions to the holders of Common Stock; or

	 	(B)	 	the Issuer shall authorize the
granting to all holders of its Common Stock of rights to
subscribe for or purchase any shares of Capital Stock of any
class or other rights; or

	 	(C)	 	there shall be any
reclassification of the Capital Stock of the Issuer; or

	 	(D)	 	there shall be any capital
reorganization by the Issuer; or

	 	(E)	 	there shall be any (i)
consolidation or merger involving the Issuer or (ii) sale,
transfer or other disposition of all or substantially all of the
Issuer’s property, assets or business (except a merger or other
reorganization in which the Issuer shall be the surviving
corporation and its shares of Capital Stock shall continue to be
outstanding and unchanged and except a consolidation, merger,
sale, transfer or other disposition involving a wholly-owned
Subsidiary); or

	 	(F)	 	there shall be a voluntary or
involuntary dissolution, liquidation or winding-up of the Issuer
or any partial liquidation of the Issuer or distribution to
holders of Common Stock;

then, in each of such cases, the Issuer shall give written notice to the Holder of the date on
which (i) the books of the Issuer shall close or a record shall be taken for such dividend,
distribution or subscription rights or (ii) such reorganization, reclassification, consolidation,
merger, disposition, dissolution, liquidation or winding-up, as the case may be, shall take place.
Such notice also shall specify the date as of which the holders of Common Stock of record shall
participate in such dividend, distribution or subscription rights, or shall be entitled to exchange
their certificates for Common Stock for securities or other property deliverable upon such
reorganization, reclassification, consolidation, merger, disposition, dissolution, liquidation or
winding-up, as the case may be. Such notice shall be given at least twenty (20) days prior to the
record date or effective date for the event specified in such notice.

10. Amendment and Waiver. Any term, covenant, agreement or condition in this Warrant
may be amended, or compliance therewith may be waived (either generally or in a particular instance
and either retroactively or prospectively), by a written instrument or written instruments executed
by the Issuer and the Majority Holders; provided, however, that no such amendment
or waiver shall reduce the Warrant Share Number, increase the Warrant Price, shorten the period
during which this Warrant may be exercised or modify any provision of this Section 10 without the
consent of the Holder of this Warrant.

11. Governing Law. This Warrant shall be governed by and construed in accordance with
the laws of the State of Delaware, without giving effect to principles of conflicts of law. Each of
the Issuer and the Holder (i) hereby irrevocably submits to the exclusive jurisdiction of the
United States District Court sitting in the District of Delaware and the courts of the State of
Delaware for the purposes of any suit, action or proceeding arising out of or relating to this
Warrant or any of the other Transaction Documents (as defined in the Purchase Agreement) or the
transactions contemplated hereby or thereby and (ii) hereby waives, and agrees not to assert in any
such suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of
such court, that the suit, action or proceeding is brought in an inconvenient forum or that the
venue of the suit, action or proceeding is improper. Each of the Issuer and the Holder consents to
process being served in any such suit, action or proceeding by mailing a copy thereof to such party
at the address in effect for notices to it under the Purchase Agreement and agrees that such
service shall constitute good and sufficient service of process and notice thereof. Nothing in
this Section 11 shall affect or limit any right to serve process in any other manner permitted by
law.

12. Notices. Any and all notices or other communications or deliveries required or
permitted to be provided hereunder shall be in writing and shall be deemed given and effective on
the earlier of (i) the date of transmission, if such notice or communication is delivered via
facsimile at the facsimile telephone number specified for notice prior to 5:00 p.m., eastern time,
on a Trading Day, (ii) the Trading Day after the date of transmission, if such notice or
communication is delivered via facsimile at the facsimile telephone number specified for notice
later than 5:00 p.m., eastern time, on any date and earlier than 11:59 p.m., eastern time, on such
date, (iii) the Trading Day following the date of mailing, if sent by overnight delivery by
nationally recognized overnight courier service or (iv) actual receipt by the party to whom such
notice is required to be given. The addresses for such communications shall be with respect to the
Holder of this Warrant or of Warrant Stock issued pursuant hereto, addressed to such Holder at its
last known address or facsimile number appearing on the books of the Issuer maintained for such
purposes, or with respect to the Issuer, addressed to:

Wave Wireless Corporation

1996 Lundy Avenue

San Jose, CA 95131

Attention: Chief Executive Officer

Telephone: 408-943-4200

Fascimile: 408-943-4305

Copies of notices to the Holder shall be sent to such address as Holder shall have provided in
writing to the Company, or at such other address as Holder furnishes by notice given in accordance
with this Section 12. Any party hereto may from time to time change its address for notices by
giving at least ten (10) days written notice of such changed address to the other party hereto.

13. Warrant Agent. The Issuer may, by written notice to each Holder of this Warrant,
appoint an agent having an office in New York, New York for the purpose of issuing shares of
Warrant Stock on the exercise of this Warrant pursuant to subsection (b) of Section 2 hereof,
exchanging this Warrant pursuant to subsection (d) of Section 2 hereof or replacing this Warrant
pursuant to subsection (d) of Section 3 hereof, or any of the foregoing, and thereafter any such
issuance, exchange or replacement, as the case may be, shall be made at such office by such agent.

14. Remedies. The Issuer stipulates that the remedies at law of the Holder of this
Warrant in the event of any default or threatened default by the Issuer in the performance of or
compliance with any of the terms of this Warrant are not and will not be adequate and that, to the
fullest extent permitted by law, such terms may be specifically enforced by a decree for the
specific performance of any agreement contained herein or by an injunction against a violation of
any of the terms hereof or otherwise.

15. Successors and Assigns. This Warrant and the rights evidenced hereby shall inure
to the benefit of and be binding upon the successors and assigns of the Issuer, the Holder hereof
and (to the extent provided herein) the Holders of Warrant Stock issued pursuant hereto, and shall
be enforceable by any such Holder or Holder of Warrant Stock.

16. Modification and Severability. If, in any action before any court or agency
legally empowered to enforce any provision contained herein, any provision hereof is found to be
unenforceable, then such provision shall be deemed modified to the extent necessary to make it
enforceable by such court or agency. If any such provision is not enforceable as set forth in the
preceding sentence, the unenforceability of such provision shall not affect the other provisions of
this Warrant, but this Warrant shall be construed as if such unenforceable provision had never been
contained herein.

17. Headings. The headings of the Sections of this Warrant are for convenience of
reference only and shall not, for any purpose, be deemed a part of this Warrant.

1

IN WITNESS WHEREOF, the Issuer has executed this Warrant as of the day and year first above
written.

WAVE WIRELESS CORPORATION

By:

Name: Daniel W. Rumsey

Title: Acting Chief Executive Officer

2

EXERCISE FORM

WAVE WIRELESS CORPORATION

The undersigned      , pursuant to the provisions of the within Warrant, hereby elects to
exercise this Warrant for      shares of Common Stock of Wave Wireless Corporation

	 	 	 	 	 	 	 	 	 
	Dated: _________________
	 	Signature
	 	 	—	 
	 
	 	Address
	 	 	—	 

     

Number of shares of Common Stock beneficially owned or deemed beneficially owned by the Holder on
the date of Exercise:      

ASSIGNMENT

FOR VALUE RECEIVED,      hereby sells, assigns and transfers unto      
the within Warrant and all rights evidenced thereby and does irrevocably constitute and appoint
     , attorney, to transfer the said Warrant on the books of the within named corporation.

	 	 	 	 	 	 	 	 	 
	Dated: _________________
	 	Signature
	 	 	—	 
	 
	 	Address
	 	 	—	 

     

PARTIAL ASSIGNMENT

FOR VALUE RECEIVED,      hereby sells, assigns and transfers unto      
the right to purchase      shares of Warrant Stock evidenced by the within Warrant together
with all rights therein, and does irrevocably constitute and appoint      , attorney,
to transfer that part of the said Warrant on the books of the within named corporation.

	 	 	 	 	 	 	 	 	 
	Dated: _________________
	 	Signature
	 	 	—	 
	 
	 	Address
	 	 	—	 

     

3

FOR USE BY THE ISSUER ONLY:

This Warrant No. W-     canceled (or transferred or exchanged) this      day of      ,      ,
shares of Common Stock issued therefor in the name of      , Warrant No. W-     issued
for      shares of Common Stock in the name of      .

4EX-4.1

Exhibit 4.1

€252,781,000

ROHM AND HAAS COMPANY

3.50% Notes due September 19, 2012

Fiscal Agency Agreement

by and among

Rohm and Haas Company, as Issuer,

JPMorgan Chase Bank, N.A.

as Fiscal Agent and Principal Paying Agent

Dated as of September 19, 2005

1

This FISCAL AGENCY AGREEMENT (this “Agreement”) is made as of September 19,
2005 among ROHM AND HAAS COMPANY, a Delaware corporation (the “Company”) and JPMORGAN CHASE
BANK, N.A., a bank duly incorporated and existing under the laws of New York acting through its
London Branch, as fiscal agent and principal paying agent.

Section 1. Delivery of Notes; Appointments.

(a) Pursuant to a Dealer Manager Agreement, dated August 23, 2005, between the Company and the
Dealer Manager named therein, the Company has agreed, subject to the conditions therein set forth,
to issue €252,781,000 3.50% Notes due September 19, 2012 (the “Notes”) in denominations of
€50,000 and above. The Notes will initially be represented by a single temporary global note (the
“Temporary Global Note”), without interest coupons (the “Coupons”), in
substantially the form set forth in Exhibit A. Beneficial interests in the Temporary Global
Note will be exchangeable for beneficial interests in a global note (the “Global Note”),
without Coupons, in substantially the form set forth in Exhibit F on or after the Restricted Period
Expiration Date (as hereinafter defined) upon and to the extent that the certification requirements
set forth in Section 1 (d)(iii) hereof have been satisfied. Beneficial interests in the
Global Note will be exchangeable for Definitive Notes in bearer form in the circumstances described
in the Global Note in denominations of €50,000 and above with Coupons attached in substantially the
form set forth in Exhibit B. References herein to “Conditions” are to the numbered
terms and conditions of the Notes, which are set forth in Exhibit C, and terms which are
defined in the Conditions shall have the same meanings where used herein. An index to the location
of certain definitions in this Agreement, the Conditions and the Notes is set forth in Section
18(b) hereof. The expression the “Notes” shall, where the context so permits, include the
Temporary Global Note, the Global Note and any Definitive Notes that may be issued.

(b) JPMorgan Chase Bank, N.A., at its principal corporate trust office in London is hereby
appointed by the Company as fiscal agent and principal paying agent upon the terms and subject to
the conditions set forth below. JPMorgan Chase Bank, N.A., London Branch, at its principal
corporate trust office in London hereby accepts such appointments. JPMorgan Chase Bank, N.A., at
its principal corporate trust office in London, and its successors as appointed in accordance with
Section 11 hereof is hereinafter called the “Fiscal Agent.” JPMorgan Chase Bank, N.A., at
its principal office in London, and all other paying agents, if any, appointed by the Company from
time to time are hereinafter called the “Paying Agents.”

(c) (i) The Company shall deliver on behalf of Rohm and Haas Denmark Finance A/S the duly
executed Temporary Global Note and Global Note to the Fiscal Agent at least one Business Day prior
to the Closing Date (as hereinafter defined), and the Fiscal Agent shall deliver the Temporary
Global Note, duly authenticated by an authorized signatory of the Fiscal Agent, on September 19,
2005, or on such other date as the Dealer Manager and the Company may agree (the “Closing Date”),
upon instruction from the Company to a common depositary for Euroclear Bank, S.A./N.V., as operator
of the Euroclear System (“Euroclear”) and for Clearstream Banking, société anonyme, Luxembourg
(“CBL”). The Company will deliver, or cause to be delivered, to the Fiscal Agent Definitive Notes
in bearer form in an aggregate principal amount of €252,781,000 for issuance as provided in Section
1(d) hereof upon the expiration of not less than 60 days’ prior notice, or such other period as is
specified in the Global Note, to the Fiscal Agent from Euroclear or CBL, acting on behalf of one or
more owners of beneficial interests in the Global Note. All deliveries of the Temporary Global
Note, the Global Note and any Definitive Notes shall be made outside the United States.

(ii) The Fiscal Agent may, at its discretion, appoint any person to act as the agent of the
Fiscal Agent in authenticating, delivering and endorsing the Notes or taking any other action that
is required by this Agreement to be taken with respect thereto. Such person may authenticate,
deliver and endorse the Notes whenever the Fiscal Agent may do so, unless limited by the terms of
such appointment. Each reference in this Agreement and the Notes to authentication, delivery or
endorsement by the Fiscal Agent shall include authentication, delivery or endorsement by any such
agent so appointed.

(d) (i) The Fiscal Agent shall (subject to subsection (iii) below) on or after the Restricted
Period Expiration Date (as hereinafter defined) authenticate and deliver to the Common Depositary
for the account of owners of beneficial interests in the Temporary Global Note that have provided
the certification described in subsection (iii) below, in exchange for the portion of the Temporary
Global Note beneficially owned by such owners, the Global Note endorsed as provided in subsection
(iv) below. The “Restricted Period Expiration Date” shall mean the date which is the first
business day following the period of 40 days from but not including the Closing Date.

(ii) The Fiscal Agent shall, upon not less than 60 days’ prior notice, or such other period as
is specified in the Global Note, to the Fiscal Agent from Euroclear or CBL (acting on behalf of one
or more owners of beneficial interests in the Global Note), authenticate and deliver to Euroclear
or CBL for the account of such beneficial owners, in exchange for the portion of the Global Note
beneficially owned by such owners, Definitive Notes in an aggregate principal amount equal to the
aggregate principal amount of the Global Note beneficially owned by such owners. The Fiscal Agent
will notify the Company of the receipt of the notice referred to in the preceding sentence on the
day of receipt.

(iii) Notwithstanding anything to the contrary in subsection (i) above, the Fiscal Agent will
only authenticate and deliver the Global Note and endorse the Global Note for exchange with respect
to portions of the Temporary Global Note as to which Euroclear or CBL has delivered to the Fiscal
Agent a certificate or certificates substantially in the form set forth in Exhibit D, dated
not earlier than the Restricted Period Expiration Date. All deliveries of the Global Note
hereunder shall be made outside the United States. Solely for the purposes of United States Treas.
Reg. § 1.163-5(c)(2)(i)(D), the Company hereby appoints the Fiscal Agent as its agent to receive
any certificates substantially in the form of Exhibit D that are required to be delivered
pursuant to this subsection (iii) and to deliver to the Company all such certificates within a
reasonable period, and the Fiscal Agent hereby accepts such appointment. The delivery to the
Fiscal Agent by Euroclear or CBL of such a certificate may be relied upon by the Company and the
Fiscal Agent as conclusive evidence that a related certificate or certificates substantially in the
form set forth in Exhibit E and dated not earlier than 15 days prior to the date of the
related certificate of Euroclear or CBL has or have been delivered (as provided in United States
Treas. Reg. § 1. 163-5(c)(2)(i)(D)(3)) to Euroclear or CBL by one or more beneficial owners of the
Temporary Global Note.

(iv) Upon delivery by Euroclear or CBL to the Fiscal Agent of certificates substantially in
the form of Exhibit D, as contemplated in subsection (iii) above, the part of the Temporary
Global Note referred to in such certificates shall be exchanged for beneficial interests in the
Global Note and shall be endorsed on Schedule II to the Temporary Global Note as a subtraction and
on Schedule II to the Global Note as an addition by the Fiscal Agent. The aggregate principal
amount of the Global Note that has from time to time been endorsed on such Schedule II to the
Global Note is referred to herein as the “Certified Amount.” The Temporary Global Note’s
remaining principal amount shall be reduced for all purposes by the amount so exchanged and
endorsed. Until the entire principal amount of the Temporary Global Note has been so exchanged in
full, holders of beneficial interests in the Temporary Global Note shall in all respects be
entitled to the same benefits as holders of beneficial interests in the Global Note for which the
Temporary Global Note may be exchanged, except that neither the holder nor the beneficial owners of
the Temporary Global Note shall be entitled to receive payments of principal of, or interest or any
additional amounts (“Additional Amounts”) payable pursuant to Section 6 of the
Conditions (if any) on, the Temporary Global Note except as provided in Section 1(e)(iii)
hereof and Exhibit A attached hereto.

(v) Until the entire principal amount of the Global Note has been exchanged in full for
Definitive Notes, holders of beneficial interests in the Global Note shall in all respects be
entitled to the same benefits as holders of Definitive Notes for which the Global Note may be
exchanged, except that neither the holder nor the beneficial owners of the Global Note shall be
entitled to receive payments of principal of, or interest or any Additional Amounts (if any)
payable pursuant to Section 6 of the Conditions on, the Global Note except as provided in Section
1(e)(i) hereof and Exhibit F attached hereto.

(vi) If the Global Note has been exchanged for Definitive Notes, holders of beneficial
interests in the Temporary Global Note attempting to exchange their interests in the Temporary
Global Note for interests in the Global Note pursuant to the terms of the Temporary Global Note
shall instead receive Definitive Notes from the Fiscal Agent, provided that the provisions of the
Temporary Global Note and the relevant provisions of Section 1(d)(iv) hereof shall apply mutatis
mutandis to any such exchange of interests in the Temporary Global Note for Definitive Notes as if
all references therein to Global Notes and beneficial interests in Global Notes were references to
Definitive Notes.

(e) (i) The Global Note will provide that payments of principal of, and interest and
Additional Amounts, if any, on any portion of the Notes which is represented by the Global Note
will be made in accordance with the Conditions. Payments to each of Euroclear and CBL in respect
of the portion of the Global Note held for their respective accounts will be made in accordance
with the provisions of the Notes; provided that payment will only be made to Euroclear and CBL in
respect of the Certified Amount (determined at the opening of business on the Payment Date) and
will only be made outside the United States of America (including the States and the District of
Columbia) or its possessions (including Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa,
Wake Island and the Northern Mariana Islands) (the “United States”), and will not be made
by transfer to an account in, or by U.S. mail to an address in, the United States.

(ii) Each of Euroclear and CBL has undertaken to credit such amounts received by it in respect
of the Global Note on the relevant Payment Date to the accounts of those persons appearing in their
respective records as owners of beneficial interests in the Global Note.

(iii) In the event that any Payment Date shall occur at a time when any portion of the
principal amount of the Temporary Global Note has not been exchanged for beneficial interests in
the Global Note, payments of principal of, and interest and Additional Amounts (if any) on that
portion of the principal amount of the Temporary Global Note that has not been exchanged for
beneficial interests in the Global Note shall be paid outside the United States and shall not be
transferred to an account in, or by mail to an address in, the United States, by the Company to the
Fiscal Agent on or before such Payment Date and shall be held by the Fiscal Agent for payment to
Euroclear or CBL upon such exchange (whereupon Euroclear and CBL have undertaken to credit such
amount to the account of the owner(s) of the related portion(s)).

(iv) Interest payable after the delivery of a Definitive Note may be collected only upon
presentation of the Coupons attached thereto as they mature.

(f) Any exchange pursuant to Section 1(d) hereof shall be made free of charge to the
holder and the beneficial owners of the Temporary and Global Notes and to the holders of the
Definitive Notes issued in exchange for beneficial interests in the Global Note as provided above.

(g) Upon return of the entire principal amount of the Temporary Global Note to the Fiscal
Agent in exchange for beneficial interests in the Global Note, the Fiscal Agent shall cancel the
Temporary Global Note by perforation or by affixing an appropriate stamp, and shall forthwith
destroy such Temporary Global Note on behalf of the Company and confirm to the Company that it has
done so.

(h) Upon return of the entire principal amount of the Global Note to the Fiscal Agent, in
exchange for the Definitive Notes, the Fiscal Agent shall cancel the Global Note by perforation or
by affixing an appropriate stamp and shall forthwith destroy such Global Note on behalf of the
Company and confirm to the Company that it has done so.

(i) All Notes delivered to the Fiscal Agent, including the Temporary Global Note, shall be
signed on behalf of the Company by a duly authorized representative of the Company, and any such
signature may be manual or facsimile. The signature of any person who shall hold any office with
the Company at the date of signature may be used notwithstanding that when any Note shall be
delivered any such person shall have ceased to hold such office. The Company covenants that each
such Note, when issued, will constitute the legal, valid and binding obligation of the Company,
enforceable in accordance with its terms (subject, as to enforcement of remedies, to applicable
bankruptcy, reorganization, insolvency, moratorium and other laws affecting creditors’ rights
generally from time to time in effect and to general equitable principles).

(j) The Company may, without the consent of the holders of the Notes and Coupons, issue from
time to time additional Notes under this Agreement having the same terms and conditions (save for
their issue date and the amount of the first payment of interest therein) which will be treated as
a single series with the Notes offered hereby.

Section 2. Payments.

(a) The Company shall, by 10:00 a.m., London time, on each date on which any payment (whether
of principal, interest or otherwise) in respect of the Notes or the Coupons becomes due (a “Payment
Date”), transfer to the Fiscal Agent such amount in same day, immediately available funds as may be
required for the purposes of such payment.

(b) Subject to payment being duly made by the Company as provided above, the Paying Agents
shall pay or cause to be paid on behalf of the Company on and after each Payment Date the amounts
due in respect of the Notes or the Coupons, as the case may be, in accordance with the Conditions
and the terms of this Agreement. So long as the Company has made payments as provided in
Section 2(a) hereof on or before each Payment Date, the Company shall not be liable for any
delay in payments by the Fiscal Agent or any Paying Agent hereunder. Unless and until the full
amount of any payment has been received by the Fiscal Agent, none of the Paying Agents shall be
bound to make payments in respect of the Notes or the Coupons as aforesaid. The Company shall
provide to the Fiscal Agent, at least two (2) business days prior to each Payment Date, irrevocable
payment instructions regarding all payments to be made on behalf of the Company hereunder.

(c) (i) The Fiscal Agent shall forthwith notify by facsimile, each of the other Paying Agents
and the Company in the event that it has not received on any Payment Date the full amount so
payable on such date.

(ii) In the absence of such notification from the Fiscal Agent in accordance with Section
2(c)(i) hereof to the effect that the Fiscal Agent has not received payment, such Paying Agents
shall assume that the Fiscal Agent has received the full amount due on such Payment Date in respect
of the Notes or the Coupons, as the case may be, and shall be required:

(A) to pay maturing Notes and Coupons in accordance with the Conditions and
this Agreement; and

(B) to claim from the Fiscal Agent any amounts so paid by it.

(d) The Fiscal Agent shall on demand promptly reimburse the other Paying Agents for payments
in respect of the Notes and the Coupons if properly made by them in accordance with the Conditions
and this Agreement.

(e) If the Fiscal Agent has not received by any Payment Date the full amount payable on such
date but receives such full amount later it shall:

(i) forthwith so notify the other Paying Agents and the Company; and

(ii) as soon as practicable give notice to the holders of the Notes in accordance with the
Conditions that it has received such full amount.

(f) All sums payable to the Fiscal Agent hereunder shall be paid in euro, subject to
applicable laws and regulations, in immediately available funds to such account as the Fiscal Agent
may from time to time inform the Company.

(g) Notwithstanding any other provision hereof, no payment with respect to the principal of,
or interest or Additional Amounts (if any) on, any Notes may be made at any office of the Fiscal
Agent or any Paying Agent in the United States nor will any payment be made by transfer to an
account in, or by mail to an address in, the United States. Except as provided in Section
1(e) hereof, payments of principal and interest will be made against surrender of the Notes or
Coupons, as the case may be, at the specified offices of any of the Paying Agents outside the
United States, subject in each case to any applicable laws and regulations. Such payments will be
made by euro check, or at the option of the holder, by transfer to a euro denominated account
maintained by such holder payee with a bank outside the United States.

(h) Subject to Sections 3 and 10 hereof, the Fiscal Agent shall be entitled to
deal with monies paid to it hereunder in the same manner as other monies paid to it as a banker by
its customers except that (i) it shall not be entitled to exercise any lien, right of set-off or
similar claim in respect thereof and (ii) it shall not be liable to any person for interest on any
sums held by it under this Agreement.

(i) If on presentation of a Note or Coupon the amount payable in respect thereof is not paid
in full (otherwise than as a result of deduction of tax as permitted by the Conditions), the Paying
Agent to which the Note or Coupon is presented shall ensure that such Note or Coupon is enfaced
with a memorandum of the amount paid and the date of payment.

(j) If the Company or any Paying Agent is compelled by United States law to make any
withholding or deduction from any payment due in respect of any Note, it will make available to the
Fiscal Agent for inspection, upon its written request, all records, accounts, certificates and
other documents relating to such payment in order that the Fiscal Agent may confirm to the holder
of such Note that such payment has been duly made.

Section 3. Repayment.

All monies paid by the Company to the Fiscal Agent for payment of the principal of, or
interest or Additional Amounts (if any) on, any Note and remaining unclaimed for two years after
such payment has been made shall be repaid to the Company, and to the extent permitted by law, the
holder of such Note thereafter may look only to the Company for payment as a general unsecured
creditor thereof, until such time as such funds may be escheated to the state. The Fiscal Agent
shall not be otherwise required to repay any such monies received by it to which it is entitled
under this Agreement. Subject to applicable laws and regulations, any payment that will be made by
the Company under this paragraph with respect to Notes will be made outside the United States.

Section 4. Redemption.

If the Company intends to redeem all of the Notes pursuant to Section 3 of the Conditions, it
shall give the Fiscal Agent notice of such redemption as required by Section 3 of the Conditions,
stating the date on which such Notes are to be redeemed.

Section 5. Cancellation, Destruction and Records.

(a) All Notes that are redeemed (together with such unmatured Coupons as are attached thereto
or are surrendered therewith at the time of such redemption) and all Coupons that are paid or have
become void shall be cancelled forthwith by perforation by the Paying Agent by or through which
they are redeemed, paid or received. Such Paying Agent shall give all relevant details to the
Fiscal Agent and forthwith cancel the Notes and Coupons (if such Paying Agent is other than the
Fiscal Agent).

(b) The Fiscal Agent shall forthwith destroy all cancelled Notes and Coupons on behalf of the
Company upon receipt thereof (whether directly or from any other Paying Agent).

(c) The Fiscal Agent shall as soon as practicable and in any event within three months after
the date of any such redemption or payment furnish to the Company a certificate stating (i) the
aggregate principal amount of Notes which have been redeemed and cancelled and the aggregate amount
paid in respect of Coupons which have been paid and cancelled, (ii) the serial numbers of such
Notes, (iii) the total numbers by maturity date of such Coupons and (iv) that all such cancelled
Notes and Coupons have been destroyed.

(d) The Fiscal Agent shall keep a full and complete record of all Notes and Coupons and of
their validation, redemption, purchase, cancellation or payment (as the case may be) and of all
replacement Notes and Coupons issued in substitution for lost, stolen, mutilated, defaced or
apparently destroyed Notes or Coupons and shall make such record available at all reasonable times
to the Company.

Section 6. Issue of Replacement Notes and Coupons.

(a) The Company shall cause a sufficient quantity of additional forms of Notes and Coupons to
be made available, upon request, to the Fiscal Agent for the purpose of issuing replacement Notes
and Coupons in accordance with the terms of this Agreement.

(b) The Fiscal Agent (in such capacity, the “Replacement Agent”) shall, subject to and in
accordance with the Conditions and the following provisions of this Section 6, issue any
replacement Notes or Coupons in place of Notes or Coupons which have been lost, stolen, mutilated,
defaced or apparently destroyed.

(c) In the case of a mutilated or defaced Note, the Replacement Agent shall ensure that
(unless otherwise covered by such indemnity and other document as the Company may require) any
replacement Note will only have attached to it Coupons corresponding to those attached to the
mutilated or defaced Note which is presented for replacement.

(d) The Replacement Agent shall not issue any replacement Note or Coupon unless and until the
applicant therefor shall have:

(i) paid such costs as may be incurred in connection therewith;

(ii) in the case of a lost, stolen, defaced, mutilated or destroyed Note or Coupon, furnished
the Replacement Agent with such evidence (including evidence as to the serial number of the Note or
Coupon in question) and indemnity in respect thereof as the Company and the Replacement Agent may
require; and

(iii) surrendered to the Replacement Agent any mutilated or defaced Note or Coupon to be
replaced.

(e) The Fiscal Agent shall cancel and destroy any mutilated or defaced Notes or Coupons
replaced pursuant to this Section 6 and shall furnish the Company with a certificate
stating the serial numbers of Notes and Coupons so cancelled and destroyed.

(f) The Replacement Agent shall, on issuing any replacement Note or Coupon, forthwith inform
the other Paying Agents and the Company of the serial number of such replacement Note or Coupon
issued, the date of issue and the serial number of the Note or Coupon in place of which such
replacement Note or Coupon has been issued.

(g) Whenever any Note or Coupon alleged to have been lost, stolen or destroyed in replacement
for which a new Note or Coupon has been issued shall be presented to any of the Paying Agents for
payment, the Paying Agent to which such Note or Coupon is presented shall immediately send notice
thereof to the Fiscal Agent (if other than such Paying Agent), which shall so inform the Company
and after consultation between them take appropriate action.

(h) Notwithstanding anything to the contrary stated herein, no replacement Note or Coupon
shall be delivered within the United States.

Section 7. Notices to Holders of the Notes.

The Fiscal Agent shall publish such notices as are required to be given by the Fiscal Agent in
Section 11(e) hereof (relating to changes in Paying Agents), and Section 3 of the
Conditions (relating to redemptions of Notes).

At the request and expense of the Company, the Fiscal Agent shall arrange for the publication
of all other notices to holders of the Notes in accordance with the Conditions. The Company shall
provide the final form of each notice to be published to the Fiscal Agent no later than 3 (three)
Business Days prior to the latest date for publication.

Section 8. Documents and Forms.

The Company shall provide to the Fiscal Agent for distribution among the Paying Agents:

(i) specimen Notes;

(ii) sufficient copies of all documents required by the Conditions to be available for issue
or inspection; and

(iii) in the event of a meeting of holders of the Notes being called, or the written consent
of holders of Notes being solicited, such forms and other documents as the Fiscal Agent may
reasonably require for the purpose of such meeting or solicitation.

Section 9. Indemnity.

(a) The Company shall indemnify the Fiscal Agent and each of the Paying Agents against any
loss, liability, cost, claim, action, demand or expense which it may incur or which may be made
against it as a result of, or in connection with, its appointment or the exercise of its powers and
performance of its duties hereunder (including, without limiting the generality of the foregoing,
any action based upon a claim that the Fiscal Agent, any of the Paying Agents, or the Company has
contravened the securities laws of any jurisdiction), except such as may result from the breach by
it of the terms of this Agreement or the Notes or from its own negligence or willful misconduct or
that of any of its officers, employees or agents.

(b) The Fiscal Agent and each of the Paying Agents shall severally and not jointly indemnify
the Company against any loss, liability, cost, claim, action, demand or expense which the Company
may incur or which may be made against it as a result of the breach by the Fiscal Agent or such
Paying Agent of the terms of this Agreement or the Notes or its negligence or willful misconduct or
that of its officers, employees or agents.

(c) The indemnification obligations set forth herein shall survive the termination or
expiration of this Agreement.

Section 10. General.

(a) In acting under this Agreement, the Fiscal Agent and the Paying Agents are acting solely
as agents of the Company and do not assume any obligation to or relationship of agency or trust for
or with any of the holders for the time being of the Notes or Coupons except that all funds held by
the Paying Agents for payment to the holders of the Notes shall be held in a separate account, to
be applied as set forth herein. The Fiscal Agent and the Paying Agents shall only be obligated to
perform the duties set forth in this Agreement and shall not be obligated to perform any implied
duties.

(b) The Fiscal Agent may consult on any legal matter any legal adviser selected by it, which
may be an employee of or legal adviser to the Company, and the Fiscal Agent and each of the Paying
Agents shall be protected and shall incur no liability for action taken, or suffered to be taken,
with respect to such matter in good faith and in accordance with the opinion of such legal adviser.
The reasonable expenses incurred by the Fiscal Agent for the fees of such legal advisers shall be
for the account of the Company and shall be subject to reimbursement pursuant to the letter
referred to in Section 12 hereof.

(c) Without limiting the protections of Section 10(g) hereof, the Fiscal Agent and each of the
Paying Agents shall be protected and shall incur no liability for or in respect of any action taken
or thing suffered by it in reliance upon any Note or Coupon, notice, direction, consent,
certificate, affidavit, statement, cablegram or other paper or document reasonably believed by it
to be genuine and to have been passed or signed by the proper parties.

(d) The Fiscal Agent and each of the Paying Agents, their affiliates and their respective
officers, directors and employees may become the owner of, or acquire any interest in, any Note or
Coupon, with the same rights that they would have if the Fiscal Agent or such Paying Agent were not
the Fiscal Agent or a Paying Agent hereunder, and may engage or be interested in any financial or
other transaction with the Company, and may act on, or as depositary, trustee or agent for, any
committee or body of holders of Notes or Coupons or other obligations of, or lenders to, the
Company as freely as if the Fiscal Agent or such Paying Agent were not the Fiscal Agent or a Paying
Agent hereunder.

(e) The Fiscal Agent and each of the Paying Agents will forthwith deliver to the Company a
copy of any notice or other document delivered to it by any Noteholder or Couponholder in its
capacity as the Fiscal Agent or a Paying Agent hereunder.

(f) Except as required by Section 10(e) hereof, neither the Fiscal Agent nor any of
the Paying Agents shall have any duty or responsibility in case of any default by the Company in
the performance of its obligations under the Conditions (including, without limiting the generality
of the foregoing, any duty or responsibility to accelerate all or any of the Notes or to initiate
or to attempt to initiate any proceedings at law or otherwise or to make any demand for the payment
thereof upon the Company).

(g) The Fiscal Agent, the Paying Agents and the Company shall (except as ordered by a court of
competent jurisdiction or as required by law) notwithstanding any notice to the contrary be
entitled to treat the bearer of any Note or Coupon as the absolute owner thereof and shall not be
liable for so doing.

(h) Neither the Fiscal Agent nor either of the Paying Agents shall be obliged to perform any
of its duties hereunder if it has reason to believe that the Company will not reimburse it for the
reasonable costs incurred by it in the performance of such duties. Under no circumstances shall
the Fiscal Agent or Paying Agents be obliged to expend or risk their own funds during the
performance of their duties hereunder except as provided hereunder.

Section 11. Changes in Fiscal Agent and Paying Agents.

(a) The Company may at any time:

(i) appoint additional Paying Agents; and

(ii) subject to Section 11(c) hereof, terminate the appointment of: (A) the Fiscal
Agent; or (B) with the prior written consent of the Fiscal Agent, any Paying Agent, in each case by
giving the party concerned and, in the case of any Paying Agent, the Fiscal Agent, no less than 60
days’ written notice to that effect, which notice shall not expire less than 30 days before or
after any Payment Date.

(b) Subject to Section 11(c) hereof, the Fiscal Agent or any Paying Agent may resign
its appointment hereunder at any time by giving to the Company, and in the case of any Paying Agent
to the Fiscal Agent, not less than 60 days’ prior written notice to that effect, which notice shall
expire not less than 30 days before or after any Payment Date.

(c) Notwithstanding Sections 11 (a) and 11(b) hereof:

(i) no resignation by or termination of the appointment of the Fiscal Agent shall take effect
until another bank or financial institution has been appointed on the terms of this Agreement to
act as Fiscal Agent in its place; and

(ii) no resignation by or termination of the appointment of any Paying Agent shall take effect
if as a result of such resignation or termination there would cease to be (so long as the Notes are
listed on the Luxembourg Stock Exchange and the Luxembourg Stock Exchange so requires) a Paying
Agent in Luxembourg; provided that, in the event the appointment of the Fiscal Agent or the Paying
Agent in Luxembourg has been terminated by the Company pursuant to Section 11 (a) hereof,
or the Fiscal Agent or the Paying Agent in Luxembourg has resigned its appointment pursuant to
Section 11(b) hereof, and the Company has failed to appoint a new Fiscal Agent or Paying
Agent, as applicable, prior to the date that is 10 days before the scheduled date of termination or
resignation, the Fiscal Agent may select another bank or financial institution to act as Fiscal
Agent in its place or appoint a Paying Agent in Luxembourg, as applicable.

(d) Any Paying Agent may change the address of its office within a particular city, in which
event it shall give to the Company and the Fiscal Agent not less than 30 days’ prior written notice
to that effect, giving the address of the new office and the date upon which such change is to take
effect.

(e) The Fiscal Agent shall give to the holders of the Notes in accordance with the Conditions
not less than 30 days’ notice of any such proposed appointment, termination, resignation or change
of which it is aware.

(f) Any successor Fiscal Agent or Paying Agent appointed hereunder shall execute, acknowledge
and deliver to its predecessor and to the Company an instrument accepting such appointment
hereunder, and thereupon such successor Fiscal Agent or Paying Agent, without any further act, deed
or conveyance shall become vested with all the authority, rights, powers, trusts, immunities,
duties and obligations of such predecessor with like effect as if originally named as Fiscal Agent
or Paying Agent hereunder, and such predecessor, upon payment of its charges and disbursements then
unpaid, shall thereupon become obligated to transfer, deliver and pay over, and such successor
Fiscal Agent or Paying Agent shall be entitled to receive, all monies, securities and other
property on deposit with or held by such predecessor, as Fiscal Agent or Paying Agent hereunder.

(g) Any retiring Fiscal Agent or Paying Agent shall, following its resignation or removal,
continue to enjoy the indemnities set forth herein with respect to the performance or
non-performance of its obligations hereunder while serving as Fiscal Agent or Paying Agent, as the
case may be.

Section 12. Commissions, Fees and Expenses.

The Fiscal Agent will receive as compensation for its services under this Agreement the fees
and expenses referred to in a letter dated the date hereof from the Fiscal Agent to the Company,
and the Company shall be responsible for all taxes, stamp duty and reasonable out-of-pocket
expenses (including legal, advertising, telex and postage expenses) incurred by the Fiscal Agent in
performing its duties hereunder. The compensation of the Paying Agents shall be as agreed between
the Company and the Paying Agents.

Section 13. Notices and Communications.

(a) All communications hereunder shall be in writing and shall be delivered at or sent by
facsimile to the applicable party at its address set forth on the signature pages of this Agreement
or at such other address as such party shall have notified to the other parties in a communication
complying with this Section 13(a). Any communication so sent by facsimile shall be deemed to have
been delivered at the time of dispatch with confirmation of receipt or confirmed answerback.

(b) All communications relating to this Agreement between the Company, on the one hand, and
any of the Paying Agents, on the other hand, or between the Paying Agents themselves shall be made
through the Fiscal Agent.

(c) All notices received by the Fiscal Agent on behalf of the Company under this Agreement and
the Notes shall be delivered to the Company by the Fiscal Agent on the dates on which the Fiscal
Agent receives such notices.

Section 14. Meetings and Consent Solicitations of Holders, Modification and Waiver.

(a) Modifications and amendments to this Agreement or to the Conditions, insofar as such
modifications or amendments affect the rights, powers, duties or obligations of the holders of the
Notes, may be made, and past default by the Company under any of the provisions hereof or thereof
may be waived by the holders of the Notes, with the written consent of the holders of at least a
majority in aggregate principal amount of the Notes at the time outstanding, or of such lesser
percentage, as may act at a meeting of the holders of the Notes held in accordance with the
provisions set forth herein, to be held at such time and at such place as the Company shall
determine; provided, that no such modification, amendment or waiver may, without the consent of the
holder of each Note affected thereby: (i) waive a default in the payment of the principal of or
interest on any such Note, or change the stated maturity of the principal of or any installment of
interest on any such Note; (ii) reduce the principal amount of or the rate of interest on any such
Note or change the obligation of the Company to pay Additional Amounts with respect to such Note;
(iii) change the currency of payment of principal of or interest on any such Note; (iv) impair the
right to institute suit for the enforcement of any such payment on or with respect to any such
Note; (v) reduce the percentage of aggregate principal amount of Notes outstanding necessary to
modify or amend this Agreement or the Conditions by written consent or reduce the percentage of
votes required for the adoption of any action at a meeting of holders of Notes; or (vi) modify the
obligation of the Company to maintain an office or agency outside the United States for the
purposes specified herein. Notice of any meeting of holders of Notes, setting forth the time and
place of such meeting and in general terms the action proposed to be taken at such meeting, shall
be given in accordance with Section 15 of the Conditions at least twice, the first publication to
be not less than 20 nor more than 180 days prior to the date fixed for the meeting. To be entitled
to consent in writing to any amendments to this Agreement or to the Conditions a person shall be a
holder of one or more Notes. To be entitled to vote at any meeting of holders of Notes, a person
shall be a: (x) holder of one or more Notes; or (y) person appointed by an instrument in writing as
proxy by the holder of one or more Notes. The only persons who shall be entitled to be present or
to speak at any meeting of holders of Notes shall be the persons entitled to vote at such meeting
and their counsel and any representatives of the Company and its counsel.

(b) The persons entitled to vote a majority in principal amount of Notes at the time
outstanding shall constitute a quorum at a meeting of the holders of Notes convened for the purpose
referred to above except as hereinafter provided. No business shall be transacted in the absence
of a quorum, unless a quorum is present when the meeting is called to order. In the absence of a
quorum, the meeting shall be adjourned for a period of not less than 10 days as determined by the
chairman of the meeting. In the absence of a quorum at any such adjourned meeting, such adjourned
meeting shall be further adjourned for a period of not less than 10 days as determined by the
chairman of the meeting. Notice of the reconvening of any adjourned meeting shall be given as
provided above except that such notice need be given only once but must be given not less than five
days prior to the date on which the meeting is scheduled to be reconvened. Subject to the
foregoing, at the reconvening of any such meeting further adjourned for the lack of a quorum, the
persons entitled to vote 25% in principal amount of Notes at the time outstanding shall constitute
a quorum for the taking of any action set forth in the notice of the original meeting. Notice of
the reconvening of an adjourned meeting shall state expressly the percentage of the aggregate
principal amount of the outstanding Notes which shall constitute a quorum.

(c) At a meeting or an adjourned meeting duly convened and at which a quorum is present as
aforesaid and any solicitation of written consents to, any resolution to amend, or to waive
compliance with, any of the covenants or conditions referred to above shall be effectively passed
and/or decided by the persons entitled to vote the lesser of: (i) a majority in principal amount of
the Notes then outstanding; and (ii) 75% in principal amount of the Notes represented and voting at
the meeting. In the case of a meeting of holders of Notes, any holder of Notes who has executed an
instrument in writing appointing a person as proxy shall be deemed to be present for the purposes
of determining a quorum and be deemed to have voted if such person duly appointed as proxy is
present and has voted; provided that such holder of Notes shall be considered as present for the
purposes of determining a quorum or voting only with respect to the matters covered by such
instrument in writing. Any resolution passed or any decision taken at any meeting of holders of
Notes duly held in accordance with this section shall be binding on all the holders of Notes
whether or not present or represented at the meeting. Any matter consented to in writing by
holders of the majority of the principal amount of Notes then outstanding shall be binding on all
holders of Notes, whether or not such holders responded to the solicitation of their written
consent.

(d) The holding of Notes shall be proved by the production of such Notes or by a certificate,
satisfactory to the Company, executed by any bank, banker, trust company or recognized securities
dealer, wherever situated, satisfactory to the Company. Each such certificate shall be dated and
shall state that on the date thereof a Note bearing a specified serial number was deposited with or
exhibited to such bank, banker, trust company, or recognized securities dealer by the person named
in such certificate. Any such certificate may be issued in respect of one or more Notes specified
therein. The holding by the person named in any such certificate of any Note specified therein
shall be presumed to continue for a period of one year from the date of such certificate unless at
the time of any determination of such holding: (i) another certificate bearing a later date issued
in respect to the same Note shall be produced; (ii) the Note specified in such certificate shall be
produced by some other person; or (iii) the Notes specified in such certificate shall have ceased
to be outstanding. The appointment of any proxy shall be proved by having the signature of the
person executing the proxy guaranteed by any bank, banker, trust company or London or New York
Stock Exchange member firm satisfactory to the Company.

(e) The Company shall appoint a temporary chairman of the meeting. A permanent chairman and a
permanent secretary of the meeting shall be elected by vote of the holders of a majority in
principal amount of the Notes represented at the meeting. At any such meeting or with respect to
any solicitation of written consents, each holder of Notes or proxy shall be entitled to one vote
for each €50,000 principal amount of Notes held or represented by him; provided that no vote shall
be cast or counted at any meeting, and no written consents shall be counted, in respect of any Note
challenged as not outstanding and ruled by the chairman of the meeting, or in the case of a
solicitation of written consents, the Fiscal Agent, to be not outstanding. The chairman of the
meeting shall have no right to vote except as a holder of Notes or proxy. Any meeting of holders
of Notes duly called at which a quorum is present may be adjourned from time to time, and the
meeting be held as so adjourned without further notice.

(f) The vote upon any resolution submitted to any meeting of holders of Notes shall be by
written ballot on which shall be subscribed the signatures of the holders of Notes or proxies and
on which shall be inscribed the serial number or numbers of the Notes held or represented by them.
The permanent chairman of the meeting shall appoint two inspectors of votes who shall count all
votes cast at the meeting for or against any resolution and who shall make and file with the
secretary of the meeting their verified written reports in duplicate of all votes cast at the
meeting. A record in duplicate of the proceedings of each meeting of holders of Notes shall be
prepared by the secretary of the meeting and there shall be attached to said record the original
reports of the inspectors of votes on any vote by ballot taken thereat and affidavits by one or
more persons having knowledge of the facts setting forth a copy of the notice of the meeting and
showing that said notice was published as provided above. The record shall be signed and verified
by the permanent chairman and secretary of the meeting and one of the duplicates shall be delivered
to the Company and the other duplicate to the Fiscal Agent to be preserved by the Fiscal Agent, the
latter to have attached thereto the ballots voted at the meeting. Any record so signed and verified
shall be conclusive evidence of the matters therein stated. A similar record shall be prepared by
the Fiscal Agent with respect to any solicitation of written consents conducted in lieu of a
meeting of holders of Notes.

(g) Notwithstanding anything to the contrary contained in Section 14(a) hereof, this Agreement
may be amended by the Company and the Fiscal Agent without the consent of any Noteholders or
Couponholders, for the purpose of: (i) adding to the covenants of the Company for the benefit of
the holders of Notes or Coupons; (ii) surrendering any right or power conferred upon the Company;
(iii) permitting payment of principal of and interest on Notes or Coupons in the United States to
the extent then permitted under applicable regulations of the United States Treasury Department and
provided no adverse tax consequences would result to the Noteholders or Couponholders, as the case
may be; (iv) evidencing the succession of a corporation or other person to the Company and the
assumption by such successor of the covenants and obligations of the Company in this Agreement and
the Notes (including the Conditions); or (v) correcting a manifest error or supplementing any
provision contained herein or therein; provided that such supplement does not adversely affect the
rights of any Noteholder.

Section 15. Permitted Consolidations of the Company.

(a) If at any time there shall be a merger, consolidation or sale of assets to which any of
the covenants contained in Section 7 of the Conditions are applicable, then in any such
event the successor or assuming corporation referred to therein will promptly deliver to the Fiscal
Agent:

(i) A certificate signed by an executive officer of such successor or assuming corporation
stating that as of the time immediately after the effective date of any such transaction the
covenants of the Company contained in Section 7 of the Conditions have been complied with;
and

(ii) A written opinion of legal counsel (who may be an employee of or counsel to the successor
or assuming corporation) stating that in such counsel’s opinion such covenants have been complied
with and that any instrument or instruments executed in the performance of such covenants comply
with the requirements thereof.

In case of any such merger, consolidation, sale or conveyance, such successor or assuming
corporation shall succeed to and be substituted for the Company, with the same effect as if it had
been named herein and in the Conditions as the Company; the Company shall thereupon be relieved of
any further obligation or liability hereunder or upon the Notes and the Company as the predecessor
corporation may, but shall not be required to, thereupon or at any time thereafter be dissolved,
wound up or liquidated. Any such successor or assuming corporation may cause to be signed and may
issue, either in its own name or in the name of the Company, any or all of the Notes issuable
hereunder which theretofore shall not have been executed on behalf of the Company and delivered to
the Fiscal Agent; and upon the order of such successor or assuming corporation, instead of the
Company, and subject to all the terms, conditions and limitations in this Agreement prescribed, the
Fiscal Agent shall authenticate and shall deliver any Notes which previously shall have been signed
and delivered by the officers of the Company to the Fiscal Agent for authentication, and any Notes
which such successor or assuming corporation thereafter shall cause to be signed and delivered to
the Fiscal Agent for that purpose. All the Notes so issued shall in all respects have the same
legal rank and benefit under this Agreement as the Notes theretofore or thereafter issued in
accordance with the terms of this Agreement as though all of such Notes had been issued at the date
of the execution hereof.

In case of any merger, consolidation, sale or conveyance, such changes in phraseology and form
(but not in substance) may be made in the Notes thereafter to be issued as may be deemed
appropriate by the successor or assuming corporation.

(b) The Fiscal Agent, subject to the provisions of Sections 10(b) and 10(c)
hereof, may rely on the documents delivered pursuant to this Agreement by any successor or assuming
corporation pursuant to this Section 15 as conclusive evidence that any such merger,
consolidation, sale or conveyance complies with the provisions of this section and the Notes.

Section 16. Governing Law and Jurisdiction

(a) This Agreement and the Notes shall be construed in accordance with and governed by the
substantive laws of the State of New York without regard to the conflicts of laws principles
thereof.

(b) The Company hereby irrevocably submits to the non-exclusive jurisdiction of any New York
State or United States Federal court sitting in the City and County of New York over any suit,
action or proceeding arising out of or related to this Agreement or any Notes. The Company
irrevocably waives, to the fullest extent permitted by law, any objection which it may have to the
laying of the venue of any such suit, action or proceeding brought in such a court and any claim
that any such suit, action or proceeding brought in such a court has been brought in an
inconvenient forum. The Company agrees that final judgment in any such suit, action or proceeding
brought in such a court shall be conclusive and binding upon the Company and may be enforced in any
court to the jurisdiction of which the Company is subject by a suit upon such judgment; provided
that service of process is effected upon the Company in the manner specified in the following
paragraph or as otherwise permitted by law.

(c) As long as any of the Notes remain outstanding, the Company will at all times have an
authorized agent in the City of New York, upon whom process may be served in any legal action or
proceeding arising out of or relating to this Agreement or any Notes. Service of process upon such
agent and written notice of such service mailed or delivered to the Company shall to the extent
permitted by law be deemed in every respect effective service of process upon the Company in any
such legal action or proceeding. The Company has appointed CT Corporation System as its agent for
such purpose, and covenants and agrees that service of process in any legal action or proceeding
may be made upon it at the office of such agent at 111 Eighth Avenue, New York, New York 10011 (or
at such other address or, at the office of such other authorized agent as the Company may designate
by written notice to the Fiscal Agent), with a copy to the Company at the address for notices set
forth in Section 13 hereof; provided that failure to deliver any such copy to the Company shall not
affect the validity or effectiveness of any such service of process.

Section 17. Counterparts

This Agreement may be executed in one or more counterparts, each of which shall constitute an
original, but all of which shall constitute one and the same instrument.

Section 18. Interpretation; Index to Certain Definitions.

(a) Unless the context requires otherwise, each reference in this Agreement to a section,
exhibit or schedule shall be deemed to be a reference to such section, exhibit or schedule of or to
this Agreement, and the word “herein” and words of like import shall refer to this Agreement as a
whole.

(b) Definitions of the following terms for purposes of this Agreement and the Notes are found
where indicated for each below:

Additional Amounts — Section 1(d) and Condition 6

Agreement — preamble

Business Day — preamble to the Conditions

CBL — Section 1(c), Exhibit A and Condition 15

Certified Amount — Section 1(d) and Exhibit F

Closing Date — Section 1(c)

Common Depositary — Exhibit A

Company — preamble, Exhibits A, B and F

Conditions — Section 1(a) and Exhibits A, B and F

Coupons — Section 1(a), Exhibits A, B and F

Euroclear — Section 1(c), Exhibit A and Condition 15

Event of Default — Condition 9

Exchange Date — Exhibit F

Fiscal Agency Agreement — Exhibits A and B

Fiscal Agent — Section 1(b) and preamble to the Conditions

Global Note — Section 1(a) and Exhibit A

Interest Payment Date — preamble to the Conditions and Exhibit B

Notes — Section 1(a), preamble to the Conditions, and Exhibits A and F

Paying Agents — Section 1(b) Payment Date — Section 2(a)

Relevant Date — Condition 6

Replacement Agent — Section 6

Restricted Period Expiration Date — Section 1(d) and Exhibit A

Temporary Global Note — Section 1(a) and Exhibit F

United States — Section 1(e)(i) and Exhibit E

2

IN WITNESS WHEREOF this Fiscal Agency Agreement has been entered into on the day and
year fast above written.

	 	 	 
	Address:

	 	

	100 Independence Mall West

Philadelphia, Pennsylvania 19106

Telephone: 215-592-3000

	 	

ROHM AND HAAS COMPANY

By:
	Fax: 215-592-3227

	 	Authorized Signatory
	 
	 	 
	Address:

	 	

	JPMorgan Chase Bank, N.A.

Trinity Tower

9 Thomas More Street

London E1W 1YT

United Kingdom

Telephone: 44 207 777 2000

	 	

JPMORGAN CHASE BANK, N.A.,

as Fiscal Agent and Principal Paying Agent

By:
	Fax: 44 1202 347 945

	 	Authorized Signatory
	 
	 	 

3

4

EXHIBIT A

[FORM OF TEMPORARY GLOBAL NOTE]

ROHM AND HAAS COMPANY

€252,781,000 3.50% Notes due September 19, 2012

This Note is a Temporary Global Note without interest coupons (“Coupons”) in respect
of a duly authorized issue by Rohm and Haas Company (the “Company,” which term shall
include any successor corporation) of notes, designated as specified in the title hereof (the
“Notes”), in the aggregate principal amount of €252,781,000. The Notes are issued with the
benefit of a Fiscal Agency Agreement, dated as of September 19, 2005 (the “Fiscal Agency
Agreement”), between the Company, and JPMorgan Chase Bank, N.A., as Fiscal Agent, and the
Paying Agents named therein. This Temporary Global Note is issued subject to the Fiscal Agency
Agreement and the Terms and Conditions (the “Conditions”) attached hereto.

The Company, for value received, hereby promises to pay to the bearer upon presentation and
surrender hereof at the office of the Fiscal Agent specified in the Fiscal Agency Agreement on
September 19, 2012, or on such earlier date as such sum may become repayable in accordance with the
Conditions, the principal sum of €252,781,000, or such lesser amount as shall be the outstanding
principal amount hereof after deduction of the aggregate principal amount of a Global Note (defined
below) issued in exchange for a portion or portions hereof, and will pay interest on the said
principal sum in accordance with the Conditions from September 19, 2005 in arrears on each Interest
Payment Date, together with such additional amounts, if any, as may be payable under Section
6 of the Conditions, subject to and in accordance with the Conditions.

This Temporary Global Note will be deposited with JPMorgan Chase Bank, N.A. as common
depositary (the “Common Depository”) on behalf of Euroclear Bank, S.A./N.V. as operator of
the Euroclear System (“Euroclear”), and Clearstream Banking, société anonyme, Luxembourg
(“CBL”) for credit to the respective accounts of Euroclear and CBL (or to such other
accounts as Euroclear or CBL may have directed). The principal amount of this Temporary Global Note
shall be reduced on exchange for beneficial interests in a global note without Coupons (the
“Global Note”) by endorsement by the Fiscal Agent as specified below.

On and after the Restricted Period Expiration Date (as defined below) CBL or Euroclear may
present to the Fiscal Agent one or more certificates signed by CBL or Euroclear, as the case may
be, dated not earlier than the Restricted Period Expiration Date, substantially in the form of
Exhibit D to the Fiscal Agency Agreement with respect to all or a portion of the principal
amount of this Temporary Global Note, whereupon the Fiscal Agent will endorse on Schedule II hereto
as a subtraction the amount of the portion of this Temporary Global Note in respect of which such
certificates have been received in exchange, outside the United States, for a corresponding portion
of the Global Note, or for corresponding amounts of Definitive Notes in bearer form if Definitive
Notes are then outstanding. The principal amount hereof shall be reduced for all purposes by the
amount so exchanged and endorsed.

Each of CBL and Euroclear has agreed with the Company that upon the request of an account
holder of a portion of this Temporary Global Note for the exchange of some or all of such portion
of this Temporary Global Note for a corresponding portion of the Global Note (or for corresponding
amounts of Definitive Notes in bearer form if Definitive Notes are then outstanding), accompanied
by a certificate or certificates substantially in the form of Exhibit E to the Fiscal
Agency Agreement and dated not earlier than 15 days prior to the date of the certificate of
Euroclear or CBL to which such certificate relates, it will deliver to the Fiscal Agent the
certificate substantially in the form of Exhibit D to the Fiscal Agency Agreement in
respect of such portion of this Temporary Global Note (but only to the extent that the certificate
of such account holder has not been modified by subsequent communications).

For the purposes hereof, “Restricted Period Expiration Date” shall mean the first business day
following the period of 40 days from (but not including) the Closing Date.

Until the entire principal amount of this Temporary Global Note has been exchanged for
beneficial interests in the Global Note or Definitive Notes, as applicable, holders of beneficial
interests in this Temporary Global Note shall in all respects be entitled to the same benefits and
subject to the same terms and conditions as, a holder of beneficial interests in the Global Note
for which such interests could be exchanged, except that neither the holder hereof nor the
beneficial owners of this Temporary Global Note be entitled to receive payments of principal of, or
interest or Additional Amounts, if any, on, this Temporary Global Note, except as provided in the
Fiscal Agency Agreement, the Conditions and in this Temporary Global Note.

No payment will be made on the Temporary Global Note unless exchange for an interest in the
Global Note or Definitive Notes, as applicable, is improperly withheld or refused.

All terms used in this Temporary Global Note which are defined in the Fiscal Agency Agreement,
the Conditions or the Definitive Notes shall, unless otherwise defined herein, have the meanings
assigned to them therein.

Unless the certificate of authentication hereon has been executed by the Fiscal Agent in
accordance with the Fiscal Agency Agreement, this Temporary Global Note shall not be valid or
obligatory for any purpose.

This Temporary Global Note shall be construed in accordance with and governed by the
substantive laws of the State of New York without regard to the conflicts of laws principles
thereof.

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS
AMENDED (THE SECURITIES ACT), AND IS SUBJECT TO UNITED STATES TAX REQUIREMENTS. THIS NOTE IS BEING
OFFERED OR SOLD OUTSIDE THE UNITED STATES AND MAY NOT BE OFFERED, SOLD, OR DELIVERED WITHIN THE
UNITED STATES OR TO OR FOR THE ACCOUNT OF U.S. PERSONS (AS THAT TERM IS DEFINED IN REGULATION S
UNDER THE SECURITIES ACT) OR UNITED STATES PERSONS (AS THAT TERM IS DEFINED IN UNITED STATES
TREASURY REGULATIONS SECTION 1.163-5(c)(2)(i)(D)). ANY UNITED STATES PERSON WHO HOLDS THIS
OBLIGATION WILL BE SUBJECT TO LIMITATIONS UNDER THE UNITED STATES INCOME TAX LAWS, INCLUDING
LIMITATIONS PROVIDED IN SECTIONS 165(j) AND 1287(a) OF THE INTERNAL REVENUE CODE.

IN WITNESS WHEREOF the Company has caused this Temporary Global Note to be signed on its
behalf by its duly authorized representative.

	 	 	 
	Dated: September 19, 2005

	 	ROHM AND HAAS COMPANY
	 
	 	 
	 
	 	 
	 
	 	 
	ATTEST:

	 	By:
	
 
	 	Name:
	
 
	 	Title:
	 
	 	 
	 
	 	 
	 
	 	 
	By:

	 	

	Name:

	 	

	Title:

	 	

	 
	 

	CERTIFICATE OF AUTHENTICATION

	 

	This is the Temporary Global Note described in the within-mentioned Fiscal

Agency Agreement

	 

	JPMORGAN CHASE BANK, N.A., as Fiscal Agent

By:

	Authorized Officer:

5

SCHEDULE I

(TEMPORARY GLOBAL NOTE).

THE COMPANY

ROHM AND HAAS COMPANY

100 Independence Mall West

Philadelphia, Pennsylvania 19106

U.S.A.

FISCAL AGENT AND PRINCIPAL PAYING AGENT

JPMORGAN CHASE BANK, N.A.

Trinity Tower

9 Thomas More Street

London E1W 1YT

United Kingdom

PAYING AGENT

THE BANK OF NEW YORK (LUXEMBOURG) S.A.

Aerogolf Center

1A, Hoehenhof

L-1736 Senningerberg

Luxembourg

6

SCHEDULE II

PRINCIPAL AMOUNT OF THE TEMPORARY GLOBAL NOTE

The following exchanges of a part of this Temporary Global Note for an interest in the Global
Note have been made:

	 	 	 	 	 	 	 
	Date Made

	 	Principal amount

subtracted
	 	Aggregate principal

amount following

such subtraction
	 	Notation made

on behalf of

the Fiscal Agent
	 

	 	 
	 	 
	 	 

7

EXHIBIT B

[FORM OF DEFINITIVE NOTE]

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED
(THE SECURITIES ACT), AND IS SUBJECT TO UNITED STATES TAX REQUIREMENTS. THIS NOTE IS BEING OFFERED
OR SOLD OUTSIDE THE UNITED STATES AND MAY NOT BE OFFERED, SOLD, OR DELIVERED WITHIN THE UNITED
STATES OR TO OR FOR THE ACCOUNT OF U.S. PERSONS (AS THAT TERM IS DEFINED IN REGULATION S UNDER THE
SECURITIES ACT) OR UNITED STATES PERSONS (AS THAT TERM IS DEFINED IN UNITED STATES TREASURY
REGULATIONS SECTION 1.163-5(c)(2)(i)(D)). ANY UNITED STATES PERSON WHO HOLDS THIS OBLIGATION WILL
BE SUBJECT TO LIMITATIONS UNDER THE UNITED STATES INCOME TAX LAWS, INCLUDING LIMITATIONS PROVIDED
IN SECTIONS 165(j) AND 1287(a) OF THE INTERNAL REVENUE CODE.

No. ISIN No. XS0230242090 €[50,000]1

ROHM AND HAAS COMPANY

€252,781,000 3.50% Notes due September 19, 2012

Rohm and Haas Company, a Delaware corporation (the “Company,” which term shall include any
successor corporation), for value received hereby promises to pay to the bearer upon surrender
hereof the principal sum of [FIFTY THOUSAND EUROS, €50,000]1, on September 19, 2012 and
to pay interest thereon, from the date hereof, in arrears on September 19 in each year
(“Interest Payment Date”), commencing September 19, 2006 at the rate of 3.50% per annum
until the principal hereof is paid or made available for payment but only upon presentment and
surrender of interest Coupons attached hereto as they severally mature.

This Note is issued with the benefit of a Fiscal Agency Agreement, dated as of September 19,
2005 (the “Fiscal Agency Agreement”), between the Company and JPMorgan Chase Bank, N.A., as
Fiscal Agent, and the Paying Agents named therein. This Note is issued subject to the Fiscal Agency
Agreement and the Terms and Conditions (the “Conditions”) attached thereto. All terms used
in this Note which are defined in the Fiscal Agency Agreement or the Conditions shall, unless
otherwise defined herein, have the meanings assigned to them therein.

Neither this Note nor any Coupon attached hereto shall become valid or obligatory for any
purpose until the certificate of authentication hereon shall have been duly signed by the Fiscal
Agent or an agent thereof acting under the Fiscal Agency Agreement.

This Note shall be construed in accordance with and governed by the substantive laws of the
State of New York without regard to the conflicts of laws principles thereof.

IN WITNESS WHEREOF, the Company has caused this Note and the Coupons appertaining hereto to be
signed in facsimile on its behalf.

	 	 	 
	Dated:

	 	ROHM AND HAAS COMPANY
	 
	 	 
	 
	 	 
	 
	 	 
	ATTEST:

	 	By:
	
 
	 	Name:
	
 
	 	Title:
	 
	 	 
	 
	 	 
	 
	 	 
	By:

	 	

	Name:

	 	

	Title:

	 	

	 
	 

	CERTIFICATE OF AUTHENTICATION

	 

	This is one of the Definitive Notes referred to in the within-mentioned Fiscal

Agency Agreement.

	 

	JPMORGAN CHASE BANK, N.A., as Fiscal Agent

By:

	Authorized Officer:

1 To be deleted and replaced with a sum in
excess of Euro 50,000 for all notes issued in denominations above Euro 50,000.

8

SCHEDULE I

(DEFINITIVE NOTE)

THE COMPANY

ROHM AND HAAS COMPANY

100 Independence Mall West

Philadelphia, Pennsylvania 19106

U.S.A.

FISCAL AGENT AND PRINCIPAL PAYING AGENT

JPMORGAN CHASE BANK, N.A.

Trinity Tower

9 Thomas More Street

London E1W 1YT

United Kingdom

PAYING AGENT

THE BANK OF NEW YORK (LUXEMBOURG) S.A.

Aerogolf Center

1A, Hoehenhof

L-1736 Senningerberg

Luxembourg

9

[FORM OF FACE OF COUPON]

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED
(THE SECURITIES ACT), AND IS SUBJECT TO UNITED STATES TAX REQUIREMENTS. THIS NOTE IS BEING OFFERED
OR SOLD OUTSIDE THE UNITED STATES AND MAY NOT BE OFFERED, SOLD, OR DELIVERED WITHIN THE UNITED
STATES OR TO OR FOR THE ACCOUNT OF U.S. PERSONS (AS THAT TERM IS DEFINED IN REGULATION S UNDER THE
SECURITIES ACT) OR UNITED STATES PERSONS (AS THAT TERM IS DEFINED IN UNITED STATES TREASURY
REGULATIONS SECTION 1.163-5(c)(2)(i)(D)). ANY UNITED STATES PERSON WHO HOLDS THIS OBLIGATION WILL
BE SUBJECT TO LIMITATIONS UNDER THE UNITED STATES INCOME TAX LAWS, INCLUDING LIMITATIONS PROVIDED
IN SECTIONS 165(j) AND 1287(a) OF THE INTERNAL REVENUE CODE.

Due September 19, 2012

€     

ROHM AND HAAS COMPANY

3.50% Notes due September 19, 2012

Unless the Note to which this Coupon appertains has been called for previous redemption and
payment thereof duly provided for, Rohm and Haas Company, a Delaware corporation (the
“Company,” which term shall include any successor corporation), on the date set forth
hereon, will pay to bearer (subject to the Terms and Conditions (the “Conditions”) of the
Notes, which shall be binding upon the holder of this Coupon whether or not it is for the time
being attached to the Note), upon surrender hereof at the offices of the Paying Agents set forth on
the reverse hereof (and/or any other Paying Agents and/or specified offices as may from time to
time be duly appointed and notified to the holders of the Notes) the sum of €     .

Under the Conditions, the Note may, in certain circumstances, become due and payable before
the maturity date of this Coupon. In any such event, this Coupon shall become void and no payment
shall be made in respect thereof.

Rohm and Haas Company

By:

10

EXHIBIT C

TERMS AND CONDITIONS OF THE NOTES

The €252,781,000 3.50% Notes due 2012 (“Notes”) have been issued under a Fiscal Agency
Agreement (“Fiscal Agency Agreement”) dated as of September 19, 2005, by and between Rohm
and Haas Company (the “Company”) and JPMorgan Chase Bank, N.A., as fiscal agent
(“Fiscal Agent”). The Notes are limited to €252,781,000 aggregate principal amount and will
bear interest from September 19, 2005 at the rate of 3.50% per annum, payable annually in arrears
on September 19, of each year (an “Interest Payment Date”), commencing September 19, 2006
until the principal is paid or made available for payment. If any Interest Payment Date would
otherwise be a day which is not a Business Day (as defined below), the Interest Payment Date shall
be postponed to the next day which is a Business Day and no additional interest shall be payable on
account of such delayed payment. “Business Day” means any day, other than a Saturday or Sunday,
which is both a day on which commercial banks are open for business in the relevant place of
presentation and a day on which the Trans-European Real-Time Gross Settlement Express Transfer
(TARGET) System is open. In the event that interest is to be calculated for a period of less than
one year, it will be calculated on the basis of a 360 day year consisting of 12 months of 30 days
each and in the case of an incomplete month, the actual number of days elapsed.

The Notes are unsecured and unsubordinated obligations of the Company, and rank pari passu
without preference among themselves and with all other present and future unsecured and
unsubordinated obligations of the Company. Neither the Fiscal Agency Agreement nor the Notes limit
other indebtedness or securities that may be incurred or issued by the Company; nor will they
contain other restrictive financial covenants or similar restrictions on the Company, except as
described in Section 7 under “Certain Covenants of the Company.”

Section 1. Delivery, Form and Denomination

Each Note and Coupon will carry substantially the following legend:

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF
1933, AS AMENDED (THE SECURITIES ACT), AND IS SUBJECT TO UNITED STATES TAX
REQUIREMENTS. THIS NOTE IS BEING OFFERED OR SOLD OUTSIDE THE UNITED STATES AND MAY
NOT BE OFFERED, SOLD, OR DELIVERED WITHIN THE UNITED STATES OR TO OR FOR THE ACCOUNT
OF U.S. PERSONS (AS THAT TERM IS DEFINED IN REGULATION S UNDER THE SECURITIES ACT)
OR UNITED STATES PERSONS (AS THAT TERM IS DEFINED IN UNITED STATES TREASURY
REGULATIONS SECTION 1.163-5(c)(2)(i)(D)). ANY UNITED STATES PERSON WHO HOLDS THIS
OBLIGATION WILL BE SUBJECT TO LIMITATIONS UNDER THE UNITED STATES INCOME TAX LAWS,
INCLUDING LIMITATIONS PROVIDED IN SECTIONS 165(j) AND 1287(a) OF THE INTERNAL
REVENUE CODE.

The sections of the Internal Revenue Code (the “Code”) referred to in such legend provide that
United States persons (as defined in the Code), with certain exceptions, will not be entitled to
deduct any loss, and will not be entitled to capital gains treatment of any gain, on any sale,
disposition or payment of principal of the Notes for United States federal income tax purposes.

Title to the Notes will pass by delivery. The holder of a Note or any Coupon will be treated,
to the extent permitted by law, by the Company, the Fiscal Agent, and all of their agents for all
purposes as the owner of such Note or Coupon.

Section 2. Payments and Paying Agents

Principal of the Notes will be payable against presentation and surrender of such Notes, and,
in the case of Definitive Notes, interest on any Definitive Notes will be payable against
presentation and surrender of the Coupons appertaining thereto as they severally mature, in either
case, at the designated offices of such Paying Agents outside the United States and its possessions
as the Company may appoint from time to time pursuant to the Fiscal Agency Agreement. Payments of
interest due in respect of any Notes other than on presentation and surrender of matured Coupons
shall be made only against presentation and either surrender or endorsement (as appropriate) of the
relevant Note. Payments with respect to the Notes and the Coupons appertaining thereto will be
made only in euro, subject to applicable laws and regulations, by euro check or, at the option of a
holder, by transfer to a euro denominated account maintained by such holder with a bank outside the
United States. No payment with respect to any such Note or Coupon will be made at the office of
the Fiscal Agent or at the offices of any Paying Agent appointed by the Company in the United
States or its possessions, nor will any payment be made by transfer to an account, or by mail to an
address, in the United States or its possessions.

In the event that any Interest Payment Date shall occur at a time when any portion of the
principal amount of the Temporary Global Note (as defined in the Fiscal Agency Agreement) has not
been exchanged (pursuant to the terms of the Temporary Global Note) for beneficial interests in the
Global Note (as defined in the Fiscal Agency Agreement), payments of principal of, and interest and
Additional Amounts (if any), on that portion of the principal amount of the Temporary Global Note
that has not been exchanged for beneficial interests in the Global Note shall be held by the Fiscal
Agent for payment to any holders of the Temporary Global Note only upon such exchange.

The Company has initially appointed the Paying Agents listed at the end of the Exchange Offer
Memorandum. The Company agrees that, so long as any of the Notes are outstanding, it will maintain
a Paying Agent outside the United States, and so long as the Notes are listed on the Luxembourg
Stock Exchange and the rules of the Luxembourg Stock Exchange shall so require, it will maintain a
Paying Agent in Luxembourg, for payments with respect to Definitive Notes and the Coupons
appertaining thereto and where the Definitive Notes may be presented or surrendered for exchange
and where notices and demands to or upon the Company in respect of the Notes, the Coupons, and the
Fiscal Agency Agreement, may be served. The Company shall have the right at any time and from time
to time to vary or terminate any appointment as Paying Agent or other agent and to appoint any
other Paying Agents or other agencies in such other places outside the United States as they may
deem appropriate and shall give prompt notice thereof in the manner described below in the section
entitled “Notices.”

The Company will also maintain at all times an office or agency in London solely for the
purpose of receiving notices and demands (other than presentation of the Notes or Coupons or
demands for payment) from the holders of the Notes and the Coupons but not for the purpose of
making payments in respect of the Notes or the Coupons. The Company has initially appointed the
office of the Fiscal Agent in London for the purpose of receiving notices and demands (other than
demands for payment) from the holders of the Notes and Coupons.

Any monies paid by the Company to the Fiscal Agent for the payment of the principal of, or
interest or Additional Amounts (as defined below), if any, on, any Notes and remaining unclaimed at
the end of two years after such principal, interest and Additional Amounts, if any, shall have
become due and payable (whether at maturity or otherwise) shall then be repaid to the Company upon
its written request, and upon such repayment all liability of the Fiscal Agent with respect thereto
shall thereupon cease, without, however, limiting in any way any obligation the Company may have to
pay the principal of, and interest or Additional Amounts, if any, on, any Note or Coupon as the
same shall become due.

Section 3. Redemption

Except as provided below, the Notes may not be redeemed prior to maturity. Unless previously
redeemed or repurchased and cancelled, the Notes will be payable at par on September 19, 2012 or
such earlier date on which the same shall be due and payable in accordance with the terms and
conditions of the Notes; provided, that, if the maturity date of the Notes is not a Business Day,
the Notes will be payable at par on the next succeeding Business Day (and no interest shall accrue
for the period from September 19, 2012 to such payment date).

If: (i) at any time the Company becomes or would become obligated to pay Additional Amounts as
described below under the heading “Payment of Additional Amounts”; or (ii) on or after September
19, 2005, any action or further action shall have been taken by any taxing authority, or any action
shall have been brought in a court of competent jurisdiction, of the United States or any political
subdivision or taxing authority thereof or therein, whether or not such action is taken with
respect to the Company, or any affiliate thereof, or any change, amendment, application,
interpretation or execution shall have been officially proposed which, in any such case, in the
written opinion of independent counsel reasonably acceptable to the Company, will result in the
Company becoming obligated to pay such Additional Amounts and such obligation cannot be avoided by
the Company taking reasonable measures available to it, then the Company may, at its option, redeem
the Notes, as a whole but not in part, upon not more than 60 nor less than 30 days’ notice at 100%
of their principal amount, together with interest accrued thereon to the date fixed for redemption,
provided that no such notice of redemption shall be given earlier than 90 days prior to the
earliest date on which the Company would be obligated to pay such Additional Amounts were a payment
in respect of the Notes then due. Prior to the giving of notice of redemption of the Notes
pursuant to this paragraph, the Company will deliver to the Fiscal Agent: (i) a certificate setting
forth a statement of facts showing that the conditions precedent to the right to effect such
redemption have occurred; and (ii) a copy of the written legal opinion referred to above, if
required.

Except as set forth in the immediately succeeding paragraph, the Company shall redeem the
Notes, as a whole but not in part, upon not more than 60 nor less than 30 days’ notice, at 100% of
their principal amount, together with interest accrued to the date fixed for redemption, after
determining, based on a written opinion of independent counsel reasonably acceptable to the
Company, that any certification, identification or information reporting requirements of United
States law or regulation with regard to the nationality, residence or identity (as distinguished
from status as a United States Alien (as defined below)) of a beneficial owner of a Note or a
Coupon appertaining thereto who is a United States Alien would be applicable to a payment of
principal of, or interest on, a Note or a Coupon appertaining thereto made outside the United
States by the Company, or a Paying Agent as agent for the Company, and not as agent for the
beneficial owner (other than a requirement: (i) that would not be applicable to a payment made
directly to the beneficial owner; (ii) that would not be applicable to a payment made to a
custodian, nominee or other agent of the beneficial owner; or (iii) that could be satisfied by the
holder who is not the beneficial owner thereof or any custodian, nominee or other agent certifying
that the beneficial owner is a United States Alien, provided, however, in each case referred to in
clauses (ii) and (iii) above that payment by a custodian, nominee or agent (who is not under
present law subject to information reporting requirements) to the beneficial owner is not otherwise
subject to any requirement referred to in this sentence). The Company shall notify the Fiscal
Agent of such determination as soon as practicable, stating in the notice the effective date of
such certification, identification or information reporting requirements and the dates within which
the redemption by the Company shall occur, and the Fiscal Agent shall give prompt notice thereof in
the manner described in “Notices” below. Such redemption of the Notes must take place on a date
specified by the Company, such date to be not later than one year after the publication of notice
of the Company’s determination of such certification, identification or information reporting
requirements. The Company shall not so redeem the Notes, however, if the Company, based on a
written opinion of independent counsel reasonably acceptable to the Company, shall determine, not
less than 30 days prior to the date fixed for redemption, that no payment in respect of the Notes
would be subject to any requirement described above, in which case the Company shall notify the
Fiscal Agent, which shall give prompt notice of that determination in the manner described in
“Notices” below and any earlier redemption notice under this paragraph shall be revoked and of no
further effect.

Notwithstanding the immediately preceding paragraph, if and so long as the certification,
identification or information reporting requirements referred to therein would be fully satisfied
with respect to the Notes by payment of United States withholding, backup withholding or a similar
tax, the Company may elect, prior to the giving of notice of redemption, to have the provisions of
this paragraph apply in lieu of the provisions of such immediately preceding paragraph. In that
event, the Company will pay such Additional Amounts as are necessary in order that, following the
effective date of such requirements, every net payment made outside the United States by the
Company, or a Paying Agent of the principal of and interest on a Note or a Coupon appertaining
thereto to a holder who is a United States Alien (but without any requirement that the nationality,
residence or identity (as distinguished from status as a United States Alien) of the beneficial
owner be disclosed to the Company, any Paying Agent, or any United States governmental authority),
after deduction for United States withholding, backup withholding or similar tax (other than a
withholding, backup withholding or similar tax which would not be applicable in the circumstances
referred to in the parenthetical clause contained within the second parenthetical clause of the
first sentence of such immediately preceding paragraph) but before deduction or withholding on
account of any tax, assessment or other governmental charge described in (a) through (h) of the
first paragraph under “Payment of Additional Amounts,” will not be less than the amount provided in
the Note or the Coupon to be then due and payable. If the Company elects to pay such Additional
Amounts and as long as it is obligated to pay such Additional Amounts, the Company may subsequently
redeem the Notes at any time, as a whole but not in part, upon not more than 60 nor less than 30
days’ notice, at 100% of their principal amount, together with accrued interest to the date fixed
for redemption.

Section 4. Purchases of Notes

The Company may, directly or through one or more of its subsidiaries, at any time purchase
Notes in the open market or otherwise at any price (provided that they are purchased together with
all unmatured Coupons relating to such Notes). Any purchase by tender shall be made available to
all Noteholders alike. The Notes so purchased, need not be cancelled but may not be re-issued or
resold except by Rohm and Haas Denmark Finance A/S in connection with the Company’s initial
issuance of the Notes. While held by, or on behalf of, the Company or any subsidiary that
purchased Notes, the holder of such Note shall not be entitled to vote at any meetings of the
Noteholders and shall not be deemed to be outstanding for the purposes of calculating quorums at
meetings of the Noteholders or for purposes described under “Meeting of Holders and Waivers of
Covenants”. Notes so acquired may be delivered to the Fiscal Agent for cancellation or otherwise.

Section 5. Cancellation

All Notes so redeemed or purchased as specified above (except for Notes purchased by Rohm and
Haas Denmark Finance A/S in connection with the Company’s initial issuance of the Notes) and any
unmatured Coupons attached to, or surrendered with, such Notes may not be re-issued or resold. All
Notes so redeemed shall be cancelled. In the case of a Global Note, cancellation of any Note
following its purchase will be effected by reduction in the principal amount of the Global Note.

Section 6. Payment of Additional Amounts

United States

The Company will pay as additional interest on the Notes or Coupons to the holder of any Note
or Coupon who is a United States Alien such additional amounts (“Additional Amounts”) as
may be necessary in order that every net payment by the Company, or any Paying Agents of principal
of, or interest on, the Notes or Coupons, after deduction or withholding for, or on account of, any
present or future tax, assessment or other governmental charge imposed upon, or as a result of,
such payment by the United States or any political subdivision or taxing authority thereof or
therein, will not be less than the amount provided for in such Note or Coupon to be then due and
payable before any such tax, assessment or other governmental charge; provided, however, that the
foregoing obligation to pay Additional Amounts shall not apply to:

(a) any tax, assessment or other governmental charge which would not have been so imposed but
for: (i) the existence of any present or former connection between such holder (or between a
fiduciary, settlor, beneficiary, member or shareholder of, or a person having a power over, such
holder, if such holder is an estate, a trust, a partnership or a corporation) and the United
States, including, without limitation, such holder (or such fiduciary, settlor, beneficiary,
member, shareholder or person having such a power) being or having been a citizen or resident or
treated as a resident thereof or being or having been engaged in a trade or business therein or
being or having been present therein or having or having had a permanent establishment therein;
(ii) the failure of such holder to comply with any requirement under United States income tax laws
and regulations to establish entitlement to exemption from such tax, assessment or other
governmental charge; (iii) such holder’s present or former status as a personal holding company or
a foreign personal holding company with respect to the United States, as a controlled foreign
corporation with respect to the United States, as a passive foreign investment company with respect
to the United States, as a foreign tax exempt organization with respect to the United States or as
a corporation which accumulates earnings to avoid United States federal income tax; or (iv) payment
being made in the United States;

(b) any tax, assessment or other governmental charge imposed by reason of the holder: (i)
owning or having owned, directly or indirectly, actually or constructively, 10% or more of the
total combined voting power of all classes of stock of the Company; (ii) being a bank receiving
interest described in section 881(c)(3)(A) of the Internal Revenue Code; or (iii) being a
controlled foreign corporation with respect to the United States that is related to the Company by
stock ownership;

(c) any tax, assessment or other governmental charge which would not have been so imposed but
for the presentation by the holder of such Note or Coupon for payment on a date more than 30 days
after the date on which such payment became due and payable or the date on which payment thereof is
duly provided for and notice is given to holders, whichever occurs later;

(d) any estate, inheritance, gift, sales, transfer, personal property, wealth, interest
equalization or any similar tax, assessment or governmental charge;

(e) any tax, assessment or other governmental charge which is payable otherwise than by
withholding from payment of principal of or interest on such Note or Coupon;

(f) any tax, assessment or other governmental charge which is payable by a holder that is not
the beneficial owner of the Note or the Coupon, or a portion of either, or that is a foreign
partnership, but only to the extent that a beneficial owner or member of the partnership would not
have been entitled to the payment of an additional amount had the beneficial owner or member
received directly its beneficial or distributive share of the payment;

(g) any tax, assessment or other governmental charge required to be withheld by any Paying
Agent from any payment of principal of or interest on any Note or Coupon, if such payment can be
made without such withholding by any other Paying Agent; or

(h) any combination of items (a), (b), (c), (d), (e), (f), and (g).

For purposes of the foregoing, the holding of or the receipt of any payment with respect to a
Note shall not constitute a connection between the holder (or between a fiduciary, settlor,
beneficiary, member or shareholder of, or a person having a power over, such holder if such .
holder is an estate, a trust, a partnership or a corporation) and the United States.

“United States Alien”, as used herein means any corporation, partnership, individual
or fiduciary that, as to the United States is: (i) a foreign corporation; (ii) a nonresident alien
individual; (iii) a nonresident alien fiduciary of a foreign estate or trust; or (iv) a foreign
partnership one or more of the members of which is, as to the United States, a foreign corporation,
a nonresident alien individual or a nonresident alien fiduciary of a foreign estate or trust.

Section 7. Certain Covenants of the Company

The Notes will provide that, so long as any of the Notes or Coupons remain outstanding, the
Company will not and will not permit any Restricted Subsidiary (as defined below) to, incur, issue,
assume, guarantee or suffer to exist any indebtedness for money borrowed (indebtedness for money
borrowed and guarantees thereof shall be herein referred to as “Indebtedness”) secured by a
mortgage, pledge, charge, lien or other form of encumbrance (hereafter referred to as “liens”) upon
any Principal Operating Property (as defined below), or any shares of stock of or Indebtedness of
any Restricted Subsidiary, without effectively providing that the Notes (together with, if the
Company shall so determine, any other indebtedness of the Company or such Restricted Subsidiary
ranking equally with the Notes and then existing or thereafter created) shall be secured equally
and ratably with such Indebtedness so long as such Indebtedness shall be so secured, except that
the foregoing restriction shall not apply to: (i) liens on property of, or on any shares of stock
of or Indebtedness of, any corporation existing at the time such corporation becomes a Restricted
Subsidiary; (ii) liens in favor of the Company, or any Restricted Subsidiary; (iii) liens in favor
of any governmental body to secure progress, advance or other payments pursuant to any contract or
provision of any statute; (iv) liens on property (including leasehold estates), shares of stock or
Indebtedness existing at the time of acquisition thereof (including acquisition through merger or
consolidation) or to secure the payment of all or any part of the purchase price thereof or
construction thereon or to secure any Indebtedness incurred prior to, at the time of, or within 120
days after, the latest of the acquisition, the completion of construction or the commencement of
full operation of such property or within 120 days after the acquisition of such shares or
Indebtedness for the purpose of financing all or any part of the purchase price thereof or
construction thereon and related costs, it being understood that if a bona fide commitment from a
bank, insurance company or other lender or investor (not including the Company or any Subsidiary)
for such financing is made prior to or within such 120-day period, the applicable lien shall be
deemed to be included in this clause (iv) irrespective of whether such lien is created within such
120-day period; or (v) any extension, renewal or replacement (or successive extensions, renewals or
replacements), as a whole or in part, of any lien referred to in the foregoing clauses (i) to (iv),
inclusive, provided, that such extension, renewal or replacement lien shall be limited to all or
part of the same property, shares of stock or Indebtedness that secured the lien extended, renewed
or replaced (plus improvements on such property). Notwithstanding the above, the Company and one
or more Restricted Subsidiaries may, without securing the Notes, issue or assume secured
Indebtedness which would otherwise be subject to the foregoing restrictions, provided that after
giving effect thereto the aggregate amount of such secured Indebtedness at such time does not
exceed 5% of consolidated net worth. “Consolidated Net Worth” is defined to mean the aggregate of
capital stock and surplus and surplus reserves which would be included on a consolidated balance
sheet of the Company and its Subsidiaries determined on a consolidated basis in accordance with
generally accepted accounting principles, less the cost of any treasury shares as included on such
balance sheet.

The term “Subsidiary” is defined to mean any corporation, partnership, limited
liability company, joint venture, trust, association or unincorporated organization (a “Person”)
more than 50% of the outstanding voting stock (or of any other form of general partnership or other
voting or controlling interest in the case of a Person that is not a corporation) of which is
owned, directly or indirectly, by the Company or by one or more other Subsidiaries of the Company.
The term “Restricted Subsidiary” is defined to mean any Subsidiary which owns a Principal Operating
Property unless the Company’s Board of Directors determines that the facilities owned by such
Subsidiary are not material to the Company’s business as a whole. The term “Principal Operating
Property” is defined to mean any principal manufacturing facility (or certain related facilities)
in the United States that the Company, or any Subsidiary of the Company, has owned and operated for
more than 90 days.

Section 8. Meeting of Holders and Waivers of Covenants

The Fiscal Agency Agreement provides that the Company may, upon the notice specified in the
Fiscal Agency Agreement, call a meeting of holders of Notes or solicit the written consent of
holders of Notes for the purpose of obtaining a waiver of any covenant or condition set forth above
under “Certain Covenants of the Company” or modifying or amending the Fiscal Agency Agreement or
the Notes. Persons entitled to vote a majority in principal amount of the Notes outstanding shall
constitute a quorum at any meeting of holders of Notes except as hereinafter provided. In the
absence of a quorum, a meeting called by the Company shall be adjourned for a period of not less
than 10 days, and in the absence of a quorum at any such adjourned meeting, the meeting shall be
further adjourned for another period of not less than 10 days, at which further adjourned meeting
persons entitled to vote 25% of the principal amount of the Notes at the time outstanding shall
constitute a quorum. Any action that may be taken by the written consent of holders of Notes
requires the written consent of at least a majority in principal amount of the outstanding Notes.
Any action that may be taken by the meeting of holders of Notes requires a favorable vote of the
holders of the lesser of: (i) a majority in principal amount of the outstanding Notes; and (ii) 75%
in principal amount of the Notes represented and voting at the meeting; provided, that without the
consent of the holder of each Note affected thereby, no modification, amendment or waiver of the
Fiscal Agency Agreement or the Notes may: (a) waive a default in the payment of the principal of,
or interest on, any such Note, or change the stated maturity of the principal of or any installment
of interest on any such Note; (b) reduce the principal amount of or the rate of interest on any
such Note or change the obligation of the Company to pay additional amounts with respect to such
Note; (c) change the currency of payment of principal of or interest on any such Note; (d) impair
the right to institute suit for the enforcement of any such payment on or with respect to any such
Note; (e) reduce the percentage of the aggregate amount of Notes outstanding necessary to modify or
amend the Fiscal Agency Agreement or the Notes or reduce the percentage of votes or written
consents required for the adoption of any action at a meeting of or pursuant to the written consent
of holders of Notes; or (f) modify the obligation of the Company to maintain an office or agency
outside the United States for the purposes specified in the Fiscal Agency Agreement.

Section 9. Events of Default

Any of the following events shall constitute an event of default under the Notes (each, an
“Event of Default”): (a) default in any payment when due of the principal of any Note and
continuation of such default for a period of 5 days; (b) default in any payment of any installment
of interest or any required payment of an Additional Amount on any of the Notes for a period of 30
days after the date when due; (c) default in performance of any other covenant in the Notes
continued for 90 days after notice by the holder of a Note; (d) non payment when due, or
acceleration of the maturity, of any indebtedness of the Company in excess of $25,000,000 in
respect of any publicly traded indebtedness listed on any stock exchange (other than that created
by the Notes), which failure to pay continues for more than 30 days; or any other default under any
agreement or agreements continues for more than 30 days, if the effect of such default is
non-payment or acceleration of the maturity of such indebtedness in an aggregate principal amount
equal to, or greater than, $50,000,000; and (e) the entry by a court having jurisdiction in the
premises of (A) a decree or order for relief in respect of the Company in an involuntary case or
proceeding under any applicable United States Federal or State or applicable bankruptcy,
insolvency, reorganization or other similar law or (B) a decree or order adjudging the Company a
bankrupt or insolvent, or approving as properly filed a petition seeking reorganization,
arrangement, adjustment or composition of or in respect of the Company under any applicable United
States Federal or State law, or appointing a custodian, receiver, liquidator, assignee, trustee,
sequestrator or other similar official of the Company 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 for relief or any such other decree or order unstayed and in effect for a period of 60
consecutive days; or (f) the commencement by the Company of a voluntary case or proceeding under
any applicable United States Federal or State bankruptcy, insolvency, reorganization or other
similar law or of any other case or proceeding to be adjudicated a bankrupt or insolvent, or the
consent by it to the entry of a decree or order for relief in respect of the Company in an
involuntary case or proceeding under any applicable United States Federal or State bankruptcy,
insolvency, reorganization or other similar law or to the commencement of any bankruptcy or
insolvency case or proceeding against it, or the filing by it of a petition or answer or consent
seeking reorganization or relief under any applicable United States Federal or State law, or the
consent by it to the filing of such petition or to the appointment of or taking possession by a
custodian, receiver, liquidator, assignee, trustee, sequestrator or similar official of the Company
or of any substantial part of its respective 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, or the taking of corporate action by the Company in furtherance of any such
action. If an Event of Default shall occur and be continuing, any holder may declare such Note due
and payable. Any Event of Default may be waived by the holders of a majority in aggregate
principal amount of the Notes, except a default in payment declared by a particular holder pursuant
to clause (a) or (b).

Section 10. Consolidation, Merger, and Sale of Assets

The Company may consolidate with, or merge into, or sell or convey all or substantially all of
its property to, another Person without the consent of holders of the Notes, provided that the
successor to the Company assumes all obligations of the Company under the Fiscal Agency Agreement
and the Notes.

Section 11. Replacement of Notes and Coupons

If any Note (including any Coupon) is mutilated, defaced or apparently destroyed, lost or
stolen, the Fiscal Agent will replace such Note (in such capacity, the “Replacement Agent”)
by issuing a new Note upon the surrender of such mutilated or defaced Note or delivery of
satisfactory evidence of the destruction, loss or theft thereof to the Replacement Agent. In any
such case, indemnity satisfactory to the Fiscal Agent and the Company may be required of the holder
of such Note before a replacement Note will be issued. All expenses associated with obtaining such
indemnity and in issuing the new Note shall be borne by the owner of the mutilated, defaced or
apparently destroyed, lost or stolen Note.

Section 12. Prescription

Under New York’s statute of limitations, any legal action to enforce the Company’s payment
obligations evidenced by the Notes or the Coupons must be commenced within 6 years after the
payment thereof is due; thereafter the Company’s payment obligations will generally become
unenforceable.

Section 13. Further Issues

The Company may, without the consent of the holders of the Notes and Coupons, issue from time
to time additional Notes under the Fiscal Agency Agreement, which will be treated as a single
series with the Notes offered hereby.

Section 14. Applicable Law

(a) The Notes shall be construed in accordance with and governed by the substantive laws of
the State of New York without regard to the conflicts of laws principles thereof.

(b) The Company hereby irrevocably submits to the non-exclusive jurisdiction of any New York
State or United States Federal court sitting in the City and County of New York over any suit,
action or proceeding arising out of or related to the Notes or the Coupons. The Company
irrevocably waives, to the fullest extent permitted by law, any objection which it may have to the
laying of the venue of any such suit, action or proceeding brought in such a court and any claim
that any such suit, action or proceeding brought in such a court has been brought in an
inconvenient forum. The Company agrees that final judgment in any such suit, action or proceeding
brought in such a court shall be conclusive and binding upon the Company and may be enforced in any
court to the jurisdiction of which the Company is subject by a suit upon such judgment; provided
that service of process is effected upon the Company in the manner specified in the following
paragraph or as otherwise permitted by law.

(c) As long as any of the Notes remain outstanding, the Company will at all times have an
authorized agent in the City of New York, upon whom process may be served in any legal action or
proceeding arising out of or relating to the Notes or the Coupons. Service of process upon such
agent and written notice of such service mailed or delivered to the Company shall to the extent
permitted by law be deemed in every respect effective service of process upon the Company in any
such legal action or proceeding. The Company has appointed CT Corporation System as its agent for
such purpose, and covenants and agrees that service of process in any legal action or proceeding
may be made upon it at the office of such agent at 111 Eighth Avenue, New York, New York 10011 (or
at such other address or, at the office of such other authorized agent as the Company may designate
by written notice to the Fiscal Agent), with a copy to the Company at the address for notices set
forth in the Fiscal Agency Agreement; provided that failure to deliver any such copy to the Company
shall not affect the validity or effectiveness of any such service of process.

Section 15. Notices

All notices to the holders of interests in the Notes will be given by publication at least
once in a newspaper in the English language of general circulation in London (which is expected to
be the Financial Times) and, so long as the Notes are listed on the Luxembourg Stock Exchange and
the rules of the Luxembourg Stock Exchange so require, in a daily newspaper of general circulation
in Luxembourg (which is expected to be the d’Wort) or, if publication in London or Luxembourg is
not practicable, publication may be made in another principal city in Europe in a newspaper of
general circulation. Such notices will be deemed to have been given on the date of such
publication, or if published on different dates, on the first date on which publication is made in
any publication in which it is required. Couponholders will be deemed for all purposes to have
notice of the contents of any notices given to the Noteholders in accordance with this paragraph.

Until such time as any Definitive Notes are issued, there may, so long as the Temporary Global
Note is held in its entirety on behalf of Euroclear System (“Euroclear”) and Clearstream
Banking, société anonyme, Luxembourg (“CBL”), be substituted for such publication in
London, the delivery of the relevant notice to Euroclear and CBL for communication by them to the
persons shown in their records as having interests in the Temporary Global Note credited to them
and any such notices will be deemed to have been given on the seventh day after delivery to
Euroclear and CBL; provided, that the foregoing shall not relieve the Company of its obligation to
publish any notices in a daily newspaper of general circulation in Luxembourg so long as the Notes
are listed on the Luxembourg Stock Exchange and the rules of the Luxembourg Stock Exchange so
require such publication.

11

EXHIBIT D

[Form of Certificate to be Given by Euroclear or CBL]

CERTIFICATE

ROHM AND HAAS COMPANY

€252,781,000 3.50% Notes Due September 19, 2012

This is to certify that, based solely on certifications we have received in writing, by tested
telex or by electronic transmission from member organizations appearing in our records as persons
being entitled to a portion of the principal amount set forth below (our “Member
Organizations”) substantially to the effect set forth in the Fiscal Agency Agreement, as of
the date hereof, €     principal amount of the above-captioned Notes: (i) is owned by persons
that are not citizens or residents of the United States, domestic partnerships, domestic
corporations, any estate the income of which is subject to United States federal income taxation
regardless of its source, any trust if a court within the United States is able to exercise primary
supervision over the administration of the trust and one or more trustees that are U.S. persons
have the authority to control all substantial trust decisions or any trust that has validly elected
to be treated as a U.S. person for United States federal income tax purposes (“United States
persons”); (ii) is owned by United States persons that are: (a) foreign branches of United
States financial institutions (as defined in United States Treasury Regulations Section
1.165-12(c)(1)(iv) (“financial institutions”) purchasing for their own account or for
resale; or (b) United States persons who acquired the Notes through foreign branches of United
States financial institutions and who hold the Notes through such United States financial
institutions on the date hereof (and in either case (a) or (b), each such United States financial
institution or person has agreed, on its own behalf or through its agent, that we may advise the
issuer or the issuer’s agent that it will comply with the requirements of Section 165(j)(3)(A), (B)
or (C) of the Internal Revenue Code of 1986, as amended, and the regulations thereunder); (iii) is
owned by United States or foreign financial institutions for purposes of resale during the
restricted period (as defined in United States Treasury Regulations Section
1.163-5(c)(2)(i)(D)(7)), which United States or foreign financial institutions described in clause
(iii) above (whether or not also described in clause (i) or (ii)) have certified that they have not
acquired the Notes for purposes of resale directly or indirectly to a United States person or to a
person within the United States or its possessions; or (iv) is owned by persons that are not
“U.S. Persons” as defined in Regulation S under the Securities Act of 1933, as amended.

We further certify: (i) that we are not making available herewith for exchange any portion of
the Temporary Global Note excepted in such certifications; and (ii) that as of the date hereof we
have not received any notification from any of our Member Organizations to the effect that the
statements made by such Member Organizations with respect to any portion of the part submitted
herewith for exchange are no longer true and cannot be relied upon as the date hereof.

As used herein, “United States” means the United States of America (including the
States and the District of Columbia); and its “possessions” include Puerto Rico, the U.S.
Virgin Islands, Guam, American Samoa, Wake Island, and the Northern Mariana Islands.

We understand that this certification is required in connection with certain tax laws of the
United States. If administrative or legal proceedings are commenced or threatened in connection
with which this certification is or would be relevant, we irrevocably authorize you to produce this
certification or a copy thereof to any interested party in such proceedings.

Dated:      ,      2 Yours faithfully,

By     

EUROCLEAR BANK, S.A./N.V., as
Operator of the Euroclear System

Yours faithfully,

By     

CLEARSTREAM BANKING, SOCIÉTÉ ANONYME,
LUXEMBOURG

12

EXHIBIT E

[Form of Certificate to be Given by Beneficial Owners]

CERTIFICATE

ROHM AND HAAS COMPANY

€252,781,000 3.50% Notes Due September 19, 2012

This is to certify that as of the date hereof, and except as set forth below, the
above-captioned notes held by you for our account: (i) are owned by persons that are not citizens
or residents of the United States, domestic partnerships, domestic corporations, any estate, the
income of which is subject to United States federal income taxation regardless of its source, any
trust if a court within the United States is able to exercise primary supervision over the
administration of the trust and one or more trustees that are U.S. persons have the authority to
control all substantial trust decisions or any trust that has validly elected to be treated as a
U.S. person for United States federal income tax purposes (“United States persons”); (ii)
are owned by United States person(s) that are: (a) foreign branches of a United States financial
institution (as defined in United States Treasury Regulations Section 1.165-12(c)(1)(iv))
(“financial institutions”) purchasing for their own account or for resale; or (b) United
States person(s) who acquired the Notes through foreign branches of United States financial
institutions and who hold the Notes through such United States financial institutions on the date
hereof (and in either case (a) or (b), each such United States financial institution or person
hereby agrees, on its own behalf or through its agent, that you may advise the issuer or the
issuer’s agent that it will comply with the requirements of Section 165(j)(3)(A), (B) or (C) of the
Internal Revenue Code of 1986, as amended, and the regulations thereunder); (iii) are owned by
United States or foreign financial institution(s) for purposes of resale during the restricted
period (as defined in United States Treasury Regulations Section 1.163-5(c)(2)(i)(D)(7)), and in
addition if the owner of the Notes is a United States or foreign financial institution described in
clause (iii) above (whether or not also described in clause (i) or (ii)) this is to further certify
that such financial institution has not acquired the Notes for purposes of resale directly or
indirectly to a United States person or to a person within the United States or its possessions; or
(iv) are owned by persons that are not “U.S. Persons” as defined in Regulation S under the
Securities Act of 1933, as amended.

As used herein, “United States” means the United States of America (including the
States and the District of Columbia); and its “possessions” include Puerto Rico, the U.S.
Virgin Islands, Guam, American Samoa, Wake Island, and the Northern Mariana Islands.

We undertake to advise you immediately by facsimile if the above statement as to beneficial
ownership is not correct at any time within the first fifteen days following the date of this
Certificate as to any of the Notes then appearing in your books as being held for our account.

This certificate accepts and does not relate to €     principal amount of the Notes
appearing in your books as being held for our account but which we have sold or as to which we are
not yet able to certify. We understand that no payments may be made with respect to such excepted
portion and no exchange and delivery of Definitive Notes for such excepted portion may take place
until we are able so to certify.

We understand that this certification is required in connection with certain tax laws in the
United States. If administrative or legal proceedings are commenced or threatened in connection
with which this certification is or would be relevant, we irrevocably authorize you to produce this
certification or a copy thereof to any interested party in such proceedings.

	 	 	 	 	 
	Dated:

	 	     ,      3
	 	     

Account Holder

13

EXHIBIT F

[FORM OF GLOBAL NOTE]

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED
(THE SECURITIES ACT), AND IS SUBJECT TO UNITED STATES TAX REQUIREMENTS. THIS NOTE IS BEING OFFERED
OR SOLD OUTSIDE THE UNITED STATES AND MAY NOT BE OFFERED, SOLD, OR DELIVERED WITHIN THE UNITED
STATES OR TO OR FOR THE ACCOUNT OF U.S. PERSONS (AS THAT TERM IS DEFINED IN REGULATION S UNDER THE
SECURITIES ACT) OR UNITED STATES PERSONS (AS THAT TERM IS DEFINED IN UNITED STATES TREASURY
REGULATIONS SECTION 1.163-5(c)(2)(i)(D)). ANY UNITED STATES PERSON WHO HOLDS THIS OBLIGATION WILL
BE SUBJECT TO LIMITATIONS UNDER THE UNITED STATES INCOME TAX LAWS, INCLUDING LIMITATIONS PROVIDED
IN SECTIONS 165(j) AND 1287(a) OF THE INTERNAL REVENUE CODE.

ROHM AND HAAS COMPANY

€252,781,000 3.50% Notes due September 19, 2012

This Note is a Global Note without interest coupons (“Coupons”) in respect of a duly
authorized issue by Rohm and Haas Company (the “Company,” which term shall. include any
successor corporation) of notes, designated as specified in the title hereof (the “Notes”),
in the aggregate principal amount of €252,781,000 initially represented by a single temporary
global note without Coupons (the “Temporary Global Note”). The Notes are issued with the
benefit of a Fiscal Agency Agreement, dated as of September 19, 2005 (the “Fiscal Agency
Agreement”), between the Company, JPMorgan Chase Bank, N.A., as Fiscal Agent, and the Paying Agents
named therein. This Global Note is issued subject to the Fiscal Agency Agreement and the Terms and
Conditions (the “Conditions”) and the guarantee of the Guarantor (“Guarantee”)
attached hereto.

The Company, for value received, hereby promises to pay to the bearer upon presentation and
surrender hereof at the office of the Fiscal Agent specified in the Fiscal Agency Agreement on
September 19, 2012, or on such earlier date as such sum may become repayable in accordance with the
Conditions, the principal sum of €252,781,000 or, if less, the Certified Amount (as hereinafter
defined), and will pay interest on the said principal sum in accordance with the preamble to the
Conditions from September 19, 2005 in arrears on each Interest Payment Date, together with such
additional amounts (if any) as may be payable under Section 6 of the Conditions, subject to and in
accordance with the Conditions.

This Global Note will be deposited with JPMorgan Chase Bank, N.A, as common depositary (the
“Common Depositary”) on behalf of Euroclear Bank, S.A./N.V., as operator of the Euroclear
System (“Euroclear”), and Clearstream Banking, société anonyme, Luxembourg (“CBL”)
for credit to the respective accounts of Euroclear and CBL (or to such other accounts as Euroclear
or CBL may have directed). The principal amount of this Global Note shall be reduced on exchange
for Definitive Notes by endorsement by the Fiscal Agent as specified below.

On and after the Restricted Period Expiration Date (as defined below) CBL or Euroclear may
present to the Fiscal Agent one or more certificates signed by CBL or Euroclear, as the case may
be, dated not earlier than the Restricted Period Expiration Date, substantially in the form of
Exhibit E to the Fiscal Agency Agreement with respect to all or a portion of the principal
amount of the Temporary Global Note, whereupon the Fiscal Agent will endorse on Schedule II hereto
as an addition an amount equal to the portion of the Temporary Global Note in respect of which such
certificates have been received in exchange for a corresponding portion of this Global Note (the
aggregate amount so endorsed, less subtractions to such aggregate amount endorsed on account of
exchanges for Definitive Notes, is herein referred to as the “Certified Amount”).

This Global Note is exchangeable in whole only (free of charge to the holder) for the
Definitive Notes described below: (i) if this Global Note is held on behalf of a clearing system
and such clearing system is closed for business for a continuous period of 14 days (other than by
reason of holidays, statutory or otherwise) or such clearing system announces an intention
permanently to cease business or does in fact do so; (ii) if principal in respect of any Notes is
not paid when due and payable; (iii) if any holder of an interest in this Global Note makes a
written request for such exchange to the Fiscal Agent; or (iv) if the Company would suffer a
material disadvantage in respect of the Notes as a result of a change in the laws or regulations
(taxation or otherwise) of any jurisdiction referred to in “Payment of Additional Amounts” which
would not be suffered were the Notes in definitive form and a certificate to such effect signed by
two executive officers of the Company is delivered to the Fiscal Agent for display to Noteholders,
by such holder giving notice to the Fiscal Agent, or by the Company giving notice. Thereupon (in
the case of (i), (ii) and (iii) above) the holder may give notice to the Fiscal Agent, and (in the
case of (iv) above) the Company may give notice to the Fiscal Agent and the Noteholders, of its
intention to exchange this Global Note for Definitive Notes on or after the Exchange Date (as
defined below) specified in the notice.

If principal in respect of any Notes is not paid when due and payable, then the holder of this
Global Note may by notice to the Fiscal Agent require the exchange of a specified principal amount
of this Global Note (which maybe equal to or (provided that, if this Global Note is held by, or on
behalf of, a clearing system, such clearing system agrees) less than the outstanding principal
amount of Notes represented thereby) for Definitive Notes on or after the Exchange Date specified
in such notice.

On or after any Exchange Date the holder of this Global Note may surrender this Global Note
to, or to the order of, the Fiscal Agent. In exchange for this Global Note, the Company will
deliver, or procure the delivery of, an equal aggregate principal amount of duly executed and
authenticated Definitive Notes (having attached to them all Coupons in respect of interest which
has not already been paid on this Global Note), security printed in accordance with any applicable
legal and stock exchange requirements and in or substantially in the form set out in the Fiscal
Agency Agreement.

For the purpose hereof, “Exchange Date” means a day falling not less than 60 days, or
in the case of exchange pursuant to (ii) above 30 days, after that on which the notice requiring
exchange is given and on which banks are open for business in the city in which the specified
office of the Fiscal Agent is located and, except in the case of exchange pursuant to (i) above, in
the cities in which the relevant clearing system is located. Definitive Notes will be issued in
bearer form in denominations of €50,000 and above, with interest Coupons (each a “Coupon”)
attached.

For the purposes hereof, “Restricted Period Expiration Date” shall mean the date which
is 40 days after the Closing Date.

Payments of principal of, and interest and Additional Amounts, if any, on, any portion of the
Notes which is represented by this Global Note shall be made to each of Euroclear and CBL in
respect of the portion of this Global Note held for its account; provided that payment will only be
made to Euroclear and CBL in respect of the Certified Amount at the opening of business on the
applicable Payment Date.

Payments of principal, premium and interest in respect of Notes represented by this Global
Note will be made against presentation for endorsement and, if no further payment fails to be made
in respect of the Notes, surrender of this Global Note to, or to the order of, the Fiscal Agent or
such other Paying Agents as shall have been notified to the Noteholders for such purpose. A record
of each payment so made will be endorsed in the appropriate schedule to this Global Note, which
endorsement will be prima facie evidence that such payment has been made in respect of the Notes.

Each of Euroclear and CBL has undertaken to credit such amounts received by it in respect of
this Global Note on the relevant Payment Date to the accounts of those persons appearing in their
respective records as owners of beneficial interests in this Global Note.

Until the entire principal amount of this Global Note has been exchanged for Definitive Notes,
holders of beneficial interests in this Global Note shall in all respects be entitled to the same
benefits, and subject to the same terms and conditions as, a holder of the Definitive Notes for
which such interests could be exchanged, except that neither the holder hereof nor the beneficial
owners of this Global Note shall be entitled to receive payments of principal of, or interest or
Additional Amounts (if any) on, this Global Note, except as provided in the Fiscal Agency Agreement
and in this Global Note.

All terms used in this Global Note which are defined in the Fiscal Agency Agreement, the
Conditions or the Definitive Notes shall, unless otherwise defined herein, have the meanings
assigned to them therein.

Unless the certificate of authentication hereon has been executed by the Fiscal Agent in
accordance with the Fiscal Agency Agreement, this Global Note shall not be valid or obligatory for
any purpose.

This Global Note shall be construed in accordance with and governed by the substantive laws of
the State of New York without regard to the conflicts of laws principles thereof.

IN WITNESS WHEREOF the Company has caused this Global Note to be signed on its behalf by its
duly authorized representative.

	 	 	 
	Dated:September 19, 2005	 	ROHM AND HAAS COMPANY
	ATTEST:

	 	By:     

Name:
	
 
	 	Title:

	 	 	 	 	 
	By:______________________
Name:
	 	 	 	 
	Title:
	 	 	 	 
	CERTIFICATE OF AUTHENTICATION
	 	 	 	 
	This is the Global Note described in

	the within-mentioned Fiscal Agency Agreement

	JPMORGAN CHASE BANK, N.A., as Fiscal Agent

	By:
	 	 	—	 
	   Authorized Officer

14

SCHEDULE I

THE COMPANY

ROHM AND HAAS COMPANY

100 Independence Mall West

Philadelphia, Pennsylvania 19106

U.S.A.

FISCAL AGENT AND PRINCIPAL PAYING AGENT

JPMORGAN CHASE BANK, N.A.

Trinity Tower

9 Thomas More Street

London E1W 1YT

United Kingdom

PAYING AGENT

THE BANK OF NEW YORK (LUXEMBOURG) S.A.

Aerogolf Center

1A, Hoehenhof

L-1736 Senningerberg

Luxembourg

2To be dated no earlier than the Restricted
Period Expiration Date.

3Certification must be dated on or after the
15th day before the date of the Euroclear or CBL certificate to which this
certification relates.

15

SCHEDULE II

CERTIFIED AMOUNT OF THE PERMANENT GLOBAL NOTE

The following additions of parts of this Global Note to the Certified Amount have been made:

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	Principal amount	 	Aggregate Certified	 	Notation made
	 	 	 	added to Certified	 	Amount following	 	on behalf of
	Date Made	 	 	Amount	 	such addition	 	the Fiscal Agent

16

SCHEDULE III

EXCHANGES FOR DEFINITIVE NOTES

The following exchanges of this Global Note for Definitive Notes have been made.

	 	 	 	 	 
	Date Made

	 	Principal amount

exchanged for

Definitive Notes
	 	Notation made

on behalf of

the Fiscal Agent
	 

	 	 
	 	 
	 
	 	 	 	 

17

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