Document:

Exhibit
4.1

HOSPIRA, INC.

Floating Rate Note due
2010

	
  No. 1

  	
   

  	
  $                  

  

CUSIP No. 441060 AG5

This Security is a
Security in a global form within the meaning of the Indenture hereinafter
referred to and is registered in the name of the Depository or a nominee of the
Depository.  This global Security is
exchangeable for Securities registered in the name of a Person other than the
Depository or its nominee only in the limited circumstances described in the
Indenture, and no transfer of this Security (other than a transfer of this
Security as a whole by the Depository to a nominee of the Depository or by a
nominee of the Depository to the Depository or another nominee of the
Depository) may be registered except in such limited circumstances.

Unless this
Security is presented by an authorized representative of The Depository Trust
Company (55 Water Street, New York, New York) to the issuer or its agent for
registration of transfer, exchange or payment, and any Security issued upon
registration of transfer of, or in exchange for, or in lieu of, this Security
is registered in the name of Cede & Co. or such other name as requested by
an authorized representative of The Depository Trust Company and any payment
hereon is made to Cede & Co., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL since the registered owner
hereof, Cede & Co., has an interest herein.

HOSPIRA,
INC.

HOSPIRA, INC., a corporation duly organized and
existing under the laws of Delaware (herein called the “Company,” which term
includes any successor Person under the Indenture hereinafter referred to), for
value received, hereby promises to pay to Cede & Co., as nominee for The
Depository Trust Company, or registered assigns, the principal sum of Three
Hundred Seventy Five Million Dollars ($375,000,000) on March 30, 2010 and to
pay interest thereon from March 23, 2007 or from the most recent March 30, June
30, September 30, or December 30 (each an “Interest Payment Date”) to which
interest has been paid or duly provided for, quarterly on each Interest Payment
Date in each year, commencing June 30, 2007, at the rate of three-month LIBOR
(as defined below) plus 48 basis points per annum, until the principal hereof
is paid or made available for payment. 
The interest so payable, and punctually paid or duly provided for, on
any Interest Payment Date will, as provided in such Indenture, be paid to the
Person in whose name this Security (or one or more predecessor Securities) is
registered at the close of business on the March 15, June 15, September 15, or
December 15 (whether or not a business day, as defined below) (each a “Regular
Record Date”), as the case may be, next preceding such Interest Payment
Date.  Any such interest not so
punctually paid or duly provided for (the “defaulted interest”) will forthwith
cease to be payable to the holder on such Regular Record Date and may either be
paid to the Person in whose name this Security (or one or more predecessor
Securities) is registered at the close of business on a date for the payment of
defaulted interest to be fixed by the Trustee (the “Special Record Date”),
notice whereof shall be given to holders of Securities of this series not less
than 10 days prior to such Special Record Date, or be paid at any time in any
other lawful manner not inconsistent with the requirements of any securities
exchange on which the Securities of this series may be listed, and upon such
notice as may be required
by such exchange, all as more fully provided in said Indenture.

The interest rate on the Securities will be reset on
the first day of each interest period other than the initial interest period
(each an “Interest Reset Date”).  An
interest period is the period commencing on an Interest Payment Date (or, in
the case of the initial interest period, commencing on the date the Securities
are issued) and ending on the day preceding the next following Interest Payment
Date; the initial interest period is March 23, 2007 through June 29, 2007. The
Interest Reset Dates are March 30, June 30, September 30 and  December 30 of each year, beginning
June 30, 2007. The Interest Determination Date for an interest period will be
the second London banking day (as defined below) preceding such interest period
(the “Interest Determination Date”). The Interest Determination Date for the
initial interest period will be March 21, 
2007. Promptly upon determination, the trustee will inform the Company
of the interest rate for the next interest period.  Interest on the Securities will be calculated
on the basis of the actual number of days in an interest period and a 360-day
year.

If any Interest Payment Date, other than the maturity
date, falls on a day that is not a business day, the Interest Payment Date will
be postponed to the next day that is a business day, except if that business
day is in the next succeeding calendar month, the Interest Payment Date will be
the immediately preceding business day. If the maturity date of the Security
falls on a day that is not a business day, the payment of interest and
principal will be made on the next succeeding business day, and no interest on
such payment will accrue for the period from and after the maturity date. As
used herein, “business day” means any day, other than a Saturday or 

 2
 

Sunday, that is neither a
legal holiday nor a day on which banking institutions are authorized or
required by law or regulations to close in New York, New York or Luxembourg.

“LIBOR” for each Interest Determination Date will be
determined by the calculation agent as follows:

(i)    If this rate does not appear on
Page LIBOR01, the calculation agent will determine the rate on the basis
of the rates at which deposits in U.S. dollars are offered by four major
banks in the London interbank market (selected by the calculation agent after
consulting with the Company) at approximately 11:00 a.m., London time, on
the Interest Determination Date for the applicable Interest Reset Date to prime
banks in the London interbank market for a period of three months commencing on
that Interest Reset Date and in principal amount equal to an amount not less
than $1,000,000 that is representative for a single transaction in such market
at such time. In such case, the calculation agent will request the principal
London office of each of these major banks to provide a quotation of such rate.
If at least two such quotations are provided, LIBOR will be the arithmetic
average of the quotations. If fewer than two quotations are provided as
requested, LIBOR for that Interest Determination Date will be the arithmetic
average of the rates quoted by three major banks in New York, New York
(selected by the calculation agent after consulting with the Company) at
approximately 11:00 a.m., New York time, on the Interest Determination Date
for the applicable Interest Determination Date for loans in U.S. dollars
to leading European banks for a period of three months commencing on that
Interest Reset Date and in a principal amount equal to an amount not less than
$1,000,000 that is representative for a single transaction in such market at
such time. If fewer than three quotations are provided as requested, for the
period until the next Interest Reset Date, LIBOR will be the same as the rate
determined for the immediately preceding Interest Reset Date.

(ii)   LIBOR will be equal to the offered
rate for deposits in U.S. dollars having an index maturity of three
months, in amounts of at least $1,000,000 as such rate appears on
Page LIBOR01 at approximately 11:00 a.m., London time, on the
Interest Determination Date for the applicable Interest Reset Date. “Page LIBOR01”
means the display page so designated on the Reuters Money 3000 Xtra
service for the purpose of displaying London interbank offered rates of major
banks, or any successor page on the Reuters Money 3000 Xtra service.

A “London banking day” will be any day in which
dealings in U.S. dollar deposits are transacted in the London interbank
market.

The calculation agent will provide the interest rate
then in effect upon any change to the holder of any Security and to the
Company. The calculation agent is LaSalle Bank National Association until such
time as the Company appoints a successor calculation agent. All calculations
made by the calculation agent in the absence of willful misconduct, bad faith
or manifest error shall be conclusive for all purposes and binding on the
Company and the holders of the Securities. The Company may appoint a successor
calculation agent at any time at the Company’s discretion and without notice.

 3
 

All percentages used in or resulting from any
calculation of the interest rate with respect to the Securities will be
rounded, if necessary, to the nearest one-hundred thousandth of a percentage
point, with five one-millionth of a percentage point rounded upward (e.g., 9.876545%
(or .09876545) would be rounded to 9.87655% (or .0987655) and 9.876544% (or
..09876544) would be rounded to 9.87654% (or .0987654)), and all U.S. dollar
amounts used in or resulting from any such calculation will be rounded to the
nearest cent (with one-half cent being rounded upward).

Payment of the principal of (and premium, if any) and
any such interest on this Security will be made at the office or agency of the
Company maintained for that purpose in Chicago, Illinois, in such coin or
currency of the United States of America as at the time of payment is legal
tender for payment of public and private debts; provided, however,
that at the option of the Company payment of interest may be made by check
mailed to the address of the Person entitled thereto as such address shall
appear in the Security Register.

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

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

 4
 

IN
WITNESS WHEREOF, the Company has caused this instrument to be duly executed
under its corporate seal.

	
  Dated: March 23, 2007

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  HOSPIRA, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Attest:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
					

 

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

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

 

	
   

  	
  LASALLE BANK NATIONAL

  ASSOCIATION,

  as Trustee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

 5
 

This Security is one of a
duly authorized issue of securities of the Company (herein called the “Securities”),
issued and to be issued in one or more series under an Indenture, dated as of
June 14 , 2004 (herein called the “Indenture”) between the Company and LaSalle
Bank National Association, as Trustee (herein called the “Trustee,” which term
includes any successor trustee under the Indenture), to which Indenture
reference is hereby made for a statement of the respective rights, limitations
of rights, duties and immunities thereunder of the Company, the Trustee and the
holders of the Securities and of the terms upon which the Securities are, and
are to be, authenticated and delivered. 
This Security is one of the series designated on the face hereof,
limited in aggregate principal amount to $375,000,000.

The Company may redeem the Securities of this series, as a whole or in part, at its option,
at any time after one year from the date of issuance at 100% of the principal
amount

If the Company has given notice as provided in the
Indenture and funds for the redemption of any Securities of this series called
for redemption have been made available on the redemption date, such Securities
will cease to bear interest on the date fixed for redemption.  Thereafter, the only right of the holders of
such Securities will be to receive payment of the redemption price.

The Company will prepare and mail a notice of
redemption to each holder of Securities to be redeemed by first-class mail at
least 30 and not more than 60 calendar days prior to the date fixed for redemption.
On and after a redemption date, interest will cease to accrue on the Securities
called for redemption (unless the Company defaults in the payment of the
redemption price and accrued interest). On or before a redemption date, the
Company will deposit with a paying agent (or the trustee) money sufficient to
pay the redemption price of and accrued interest on the Securities to be
redeemed on that date. If less than all of the Securities of a series are to be
redeemed, the Securities to be redeemed shall be selected by the trustee pro
rata or by lot or by a method the trustee deems to be fair and appropriate.

The Company will notify the Trustee at least 45 days
prior to giving notice of redemption (or such shorter period as is satisfactory
to the Trustee) of the aggregate principal amount of the Securities of this
series to be redeemed and their redemption date.  If less than all of the Securities of this
series are to be redeemed, the Trustee shall select which Securities are to be redeemed in a manner it deems to be fair and
appropriate.

The
Securities of this series do not provide for a sinking fund.

If a Change of Control Triggering Event (as defined
below) occurs, unless the Company has exercised its right to redeem the
Securities as described above, holders of Securities will have the right to
require the Company to repurchase all or any part (equal to $2,000 or an
integral multiple of $1,000 in excess thereof) of their Securities pursuant to
the offer described below (the “Change of Control Offer”). In the Change of
Control Offer, the Company will be required to offer payment in cash equal to
101% of the aggregate principal amount of Securities repurchased plus accrued
and unpaid interest, if any, on the Securities repurchased, to the date of
purchase (the “Change of Control Payment”). Within 30 days following any Change
of Control Triggering Event, the Company will be required to mail a notice to
holders of Securities describing the transaction or transactions that
constitute the Change of Control Triggering Event 

 6
 

and
offering to repurchase the Securities on the date specified in the notice,
which date will be no earlier than 30 days and no later than 60 days from the
date such notice is mailed (the “Change of Control Payment Date”), pursuant to
the procedures required by the Securities and described in such notice. The
Company must comply with the requirements of Rule 14e-1 under the Securities
Exchange Act of 1934, as amended (the “Exchange Act”) and any other securities
laws and regulations thereunder to the extent those laws and regulations are
applicable in connection with the repurchase of the Securities as a result of a
Change of Control Triggering Event. To the extent that the provisions of any
securities laws or regulations conflict with the Change of Control provisions
of the Securities, the Company will be required to comply with the applicable
securities laws and regulations and will not be deemed to have breached its
obligations under the Change of Control provisions of the Securities by virtue
of such conflicts.

On the Change of Control Payment Date, the Company
will be required, to the extent lawful, to:

·                  accept for
payment all Securities or portions of Securities properly tendered pursuant to
the Change of Control Offer;

·                  deposit with the
paying agent an amount equal to the Change of Control Payment in respect of all
Securities or portions of Securities properly tendered; and

·                  deliver or cause
to be delivered to the Trustee the Securities properly accepted.

For purposes of the foregoing discussion of a
repurchase at the option of holders, the following definitions are applicable:

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

“Change of Control” means the occurrence of any of the
following: (1) the direct or indirect sale, transfer, conveyance or other
disposition (other than by way of merger or consolidation), in one or a series
of related transactions, of all or substantially all of the properties or
assets of the Company and its subsidiaries taken as a whole to any person (as
such term is used in Section 13(d) of the Exchange Act) other than the Company
or one of its subsidiaries; (2) the consummation of any transaction
(including, without limitation, any merger or consolidation) the result of
which is that any person (as such term is used in Section 13(d) of the Exchange
Act) becomes the beneficial owner, directly or indirectly, of more than 50% of
the then outstanding number of shares of the Company’s voting stock; or
(3) the first day on which a majority of the members of the Company’s
Board of Directors are not Continuing Directors.

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

 7
 

“Continuing Directors” means, as of any date of
determination, any member of the Company who (1) was a member of such
Board of Directors on the date of the issuance of the Securities; or
(2) was nominated for election or elected to such Board of Directors with
the approval of a majority of the Continuing Directors who were members of such
Board of Directors at the time of such nomination or election (either by a
specific vote or by approval of the Company’s proxy statement in which such
member was named as a nominee for election as a director, without objection to
such nomination).

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

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

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

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

If an Event of Default with respect to Securities of
this series shall occur and be continuing, the principal of the Securities of
this series may be declared due and payable in the manner and with the effect
provided in the Indenture.

The Indenture contains provisions for defeasance at
any time of the entire indebtedness of this Security or certain restrictive
covenants and Events of Default with respect to this Security, in each case
upon compliance with certain conditions set forth therein.

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

No reference herein to the Indenture and no provision
of this Security or of the Indenture shall alter or impair the obligation of
the Company, which is absolute and unconditional, to pay 

 8
 

the principal of and any
premium and interest on this Security at the times, place and rate, and in the
coin or currency, herein prescribed.

As provided in the Indenture and subject to certain
limitations therein set forth, the transfer of this Security is registerable in
the Security Register, upon surrender of this Security for registration of
transfer at the office or agency of the Company in any place where the
principal of and any premium and interest on this Security are payable, duly
endorsed by, or accompanied by a written instrument of transfer in form
satisfactory to the Company and the Security Registrar duly executed by, the
holder hereof or his attorney duly authorized in writing, and thereupon one or
more new Securities of this series and of like tenor, of authorized
denominations and for the same aggregate principal amount, will be issued to
the designated transferee or transferees.

The Securities of this series are issuable only in
registered form without coupons in denominations of $2,000 and integral
multiples of $1,000.  As provided in the
Indenture and subject to certain limitations therein set forth, Securities of
this series are exchangeable for a like aggregate principal amount of
Securities of this series and of like tenor of a different authorized
denomination, as requested by the holder surrendering the same.

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

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

All
terms used in this Security which are defined in the Indenture shall have the
meanings assigned to them in the Indenture.

This
Security is a Book-Entry Security within the meaning of the Indenture
hereinafter referred to and is registered in the name of a Depository or a
nominee of a Depository.  This Security
is exchangeable for Securities registered in the name of a person other than
the Depository or its nominee only in the limited circumstances described in
the Indenture and may not be transferred except as a whole by the Depository to
a nominee of the Depository or by a nominee of the Depository to the Depository
or another nominee of the Depository.

*     *     *

 9Exhibit
4.2

HOSPIRA, INC.

5.55% Note due 2012

	
  No. 1

  	
   

  	
  $                    

  

CUSIP No. 441060 AH3

This Security is a
Security in a global form within the meaning of the Indenture hereinafter
referred to and is registered in the name of the Depository or a nominee of the
Depository.  This global Security is
exchangeable for Securities registered in the name of a Person other than the
Depository or its nominee only in the limited circumstances described in the
Indenture, and no transfer of this Security (other than a transfer of this
Security as a whole by the Depository to a nominee of the Depository or by a
nominee of the Depository to the Depository or another nominee of the
Depository) may be registered except in such limited circumstances.

Unless this
Security is presented by an authorized representative of The Depository Trust
Company (55 Water Street, New York, New York) to the issuer or its agent for
registration of transfer, exchange or payment, and any Security issued upon
registration of transfer of, or in exchange for, or in lieu of, this Security
is registered in the name of Cede & Co. or such other name as requested by
an authorized representative of The Depository Trust Company and any payment
hereon is made to Cede & Co., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL since the registered owner
hereof, Cede & Co., has an interest herein.

HOSPIRA,
INC.

HOSPIRA, INC., a corporation duly organized and
existing under the laws of Delaware (herein called the “Company,” which term
includes any successor Person under the Indenture hereinafter referred to), for
value received, hereby promises to pay to Cede & Co., as nominee for The
Depository Trust Company, or registered assigns, the principal sum of Five
Hundred Million Dollars ($500,000,000) on March 30, 2012 and to pay interest
thereon from March 23, 2007 or from the most recent Interest Payment Date to
which interest has been paid or duly provided for, semi-annually on March 30
and September 30 in each year, commencing September 30, 2007, at the rate
of  5.55% per annum, until the principal
hereof is paid or made available for payment. 
The interest so payable, and punctually paid or duly provided for, on
any Interest Payment Date will, as provided in such Indenture, be paid to the
Person in whose name this Security (or one or more Predecessor Securities) is
registered at the close of business on the Regular Record Date for such
interest, which shall be the March 15 or September 15 (whether or not a
Business Day), as the case may be, next preceding such Interest Payment
Date.  Any such interest not so
punctually paid or duly provided for will forthwith cease to be payable to the
Holder on such Regular Record Date and may either be paid to the Person in
whose name this Security (or one or more Predecessor Securities) is registered
at the close of business on a Special Record Date for the payment of such
Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to
Holders of Securities of this series not less than 10 days prior to such
Special Record Date, or be paid at any time in any other lawful manner not
inconsistent with the requirements of any securities exchange on which the
Securities of this series may be listed, and upon such notice as may be
required by such exchange, all as more fully provided in said Indenture.

Payment of the principal of (and premium, if any) and
any such interest on this Security will be made at the office or agency of the
Company maintained for that purpose in Chicago, Illinois, in such coin or
currency of the United States of America as at the time of payment is legal
tender for payment of public and private debts; provided, however,
that at the option of the Company payment of interest may be made by check
mailed to the address of the Person entitled thereto as such address shall
appear in the Security Register.

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

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

 2
 

IN
WITNESS WHEREOF, the Company has caused this instrument to be duly executed
under its corporate seal.

Dated: March 23,
2007

	
  

  	
  HOSPIRA, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Attest:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
					

 

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

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

	
   

  	
  LASALLE BANK NATIONAL

  ASSOCIATION,

  as Trustee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 3
 

This Security is one of a duly authorized issue of
securities of the Company (herein called the “Securities”), issued and to be
issued in one or more series under an Indenture, dated as of June 14 , 2004
(herein called the “Indenture”) between the Company and LaSalle Bank National
Association, as Trustee (herein called the “Trustee,” which term includes any
successor trustee under the Indenture), to which Indenture reference is hereby
made for a statement of the respective rights, limitations of rights, duties
and immunities thereunder of the Company, the Trustee and the Holders of the
Securities and of the terms upon which the Securities are, and are to be,
authenticated and delivered.  This
Security is one of the series designated on the face hereof, limited in
aggregate principal amount to $500,000,000.

The Company may redeem the Securities of this series,
in whole at any time, or in part from time to time, at the Company’s option, on
not less than 30 nor more than 60 days’ notice, subject to the payment of
a redemption price equal to the greater of (1) 100% of the principal
amount of the Securities to be redeemed and (2) the sum of the present
values of the Remaining Scheduled Payments (as defined below) on such Securities
discounted to the date of redemption, on a semi-annual basis (assuming a
360-day year consisting of twelve 30-day months), at a rate equal to the sum of the applicable
Treasury Rate (as defined below), plus 20 basis points.   In each case, accrued and unpaid interest
will also be paid to but excluding the redemption date.

If the Company has given notice as provided in the
Indenture and funds for the redemption of any Securities of this series called
for redemption have been made available on the redemption date, such Securities
will cease to bear interest on the date fixed for redemption.  Thereafter, the only right of the Holders of
such Securities will be to receive payment of the redemption price.

The Company will prepare and mail a notice of
redemption to each holder of Securities to be redeemed by first-class mail at
least 30 and not more than 60 calendar days prior to the date fixed for
redemption. On and after a redemption date, interest will cease to accrue on
the Securities called for redemption (unless the Company defaults in the
payment of the redemption price and accrued interest). On or before a
redemption date, the Company will deposit with a paying agent (or the trustee)
money sufficient to pay the redemption price of and accrued interest on the Securities
to be redeemed on that date. If less than all of the Securities of a series are
to be redeemed, the Securities to be redeemed shall be selected by the trustee
pro rata or by lot or by a method the trustee deems to be fair and appropriate.

The Company will notify the Trustee at least 45 days
prior to giving notice of redemption (or such shorter period as is satisfactory
to the Trustee) of the aggregate principal amount of the Securities of this
series to be redeemed and their redemption date.  If less than all of the Securities of this
series are to be redeemed, the Trustee shall select which Securities are to be redeemed in a manner it deems to be fair and
appropriate.

“Comparable Treasury Issue” means the United States
Treasury security selected by a Reference Treasury Dealer (as defined below) as
having an actual or interpolated maturity comparable to the remaining term of
the Securities called for redemption, that would be utilized, at the time of
selection and in accordance with customary financial practice, in pricing new
issues of corporate debt securities of comparable maturity to the remaining
term of Securities called for redemption.

 4
 

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

“Reference Treasury Dealer” means Morgan
Stanley & Co. Incorporated, ABN AMRO Incorporated, Citigroup Global
Markets Inc., and two other primary U.S. Government securities dealers selected
by the Company, and each of their respective successors. If any of the
foregoing shall cease to be a primary U.S. Government securities dealer, the
Company will substitute another nationally recognized investment banking firm
that is a primary U.S. Government securities dealer.

“Reference Treasury Dealer Quotations” means, on any
redemption date, the average, as determined by the calculation agent, of the
bid and asked prices for the Comparable Treasury Issue (expressed in each case
as a percentage of its principal amount) quoted in writing to the Company by
each Reference Treasury Dealer at 3:30 p.m., New York City time, on the third
business day preceding that redemption date.

“Remaining Scheduled Payments” means the remaining
scheduled payments of principal of and interest on the Securities called for
redemption that would be due after the related redemption date but for that
redemption. If that redemption date is not an interest payment date with
respect to the Securities called for redemption, the amount of the next
succeeding scheduled interest payment on such Securities will be reduced by the
amount of interest accrued on the Securities called for redemption to such
redemption date.

“Treasury Rate” means, with respect to any redemption
date, the rate per annum equal to the semi-annual equivalent yield to maturity
(computed as of the third business day immediately preceding that redemption
date) of the Comparable Treasury Issue, assuming a price for the Comparable
Treasury Issue (expressed as a percentage of its principal amount) equal to the
Comparable Treasury Price for that redemption date.

The
Securities of this series do not provide for a sinking fund.

If a Change of Control Triggering Event (as defined
below) occurs, unless the Company has exercised its right to redeem the
Securities as described above, holders of Securities will have the right to
require the Company to repurchase all or any part (equal to $2,000 or an
integral multiple of $1,000 in excess thereof) of their Securities pursuant to
the offer described below (the “Change of Control Offer”). In the Change of
Control Offer, the Company will be required to offer payment in cash equal to
101% of the aggregate principal amount of Securities repurchased plus accrued
and unpaid interest, if any, on the Securities repurchased, to the date of
purchase (the “Change of Control Payment”). Within 30 days following any Change
of Control Triggering Event, the Company will be required to mail a notice to
holders of Securities describing the transaction or transactions that
constitute the Change of Control Triggering Event and offering to repurchase
the Securities on the date specified in the notice, which date will be no
earlier than 30 days and no later than 60 days from the date such notice is
mailed (the “Change of Control Payment Date”), pursuant to the procedures
required by the Securities and described in such notice. The Company must
comply with the requirements of Rule 14e-1 under the 

 5
 

Securities
Exchange Act of 1934, as amended (the “Exchange Act”) and any other securities
laws and regulations thereunder to the extent those laws and regulations are
applicable in connection with the repurchase of the Securities as a result of a
Change of Control Triggering Event. To the extent that the provisions of any
securities laws or regulations conflict with the Change of Control provisions
of the Securities, the Company will be required to comply with the applicable
securities laws and regulations and will not be deemed to have breached its
obligations under the Change of Control provisions of the Securities by virtue of
such conflicts.

On the Change of Control Payment Date, the Company
will be required, to the extent lawful, to:

·                  accept for
payment all Securities or portions of Securities properly tendered pursuant to
the Change of Control Offer;

·                  deposit with the
paying agent an amount equal to the Change of Control Payment in respect of all
Securities or portions of Securities properly tendered; and

·                  deliver or cause
to be delivered to the Trustee the Securities properly accepted.

For purposes of the foregoing discussion of a
repurchase at the option of holders, the following definitions are applicable:

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

“Change of Control” means the occurrence of any of the
following: (1) the direct or indirect sale, transfer, conveyance or other
disposition (other than by way of merger or consolidation), in one or a series
of related transactions, of all or substantially all of the properties or
assets of the Company and its subsidiaries taken as a whole to any person (as
such term is used in Section 13(d) of the Exchange Act) other than the Company
or one of its subsidiaries; (2) the consummation of any transaction
(including, without limitation, any merger or consolidation) the result of
which is that any person (as such term is used in Section 13(d) of the Exchange
Act) becomes the beneficial owner, directly or indirectly, of more than 50% of
the then outstanding number of shares of the Company’s voting stock; or
(3) the first day on which a majority of the members of the Company’s
Board of Directors are not Continuing Directors.

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

“Continuing Directors” means, as of any date of
determination, any member of the Company who (1) was a member of such
Board of Directors on the date of the issuance of the Securities; or
(2) was nominated for election or elected to such Board of Directors with
the 

 6
 

approval
of a majority of the Continuing Directors who were members of such Board of
Directors at the time of such nomination or election (either by a specific vote
or by approval of the Company’s proxy statement in which such member was named
as a nominee for election as a director, without objection to such nomination).

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

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

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

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

If an Event of Default with respect to Securities of
this series shall occur and be continuing, the principal of the Securities of
this series may be declared due and payable in the manner and with the effect
provided in the Indenture.

The Indenture contains provisions for defeasance at
any time of the entire indebtedness of this Security or certain restrictive
covenants and Events of Default with respect to this Security, in each case
upon compliance with certain conditions set forth therein.

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

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

 7
 

As provided in the Indenture and subject to certain
limitations therein set forth, the transfer of this Security is registerable in
the Security Register, upon surrender of this Security for registration of
transfer at the office or agency of the Company in any place where the
principal of and any premium and interest on this Security are payable, duly
endorsed by, or accompanied by a written instrument of transfer in form
satisfactory to the Company and the Security Registrar duly executed by, the
Holder hereof or his attorney duly authorized in writing, and thereupon one or
more new Securities of this series and of like tenor, of authorized
denominations and for the same aggregate principal amount, will be issued to
the designated transferee or transferees.

The Securities of this series are issuable only in
registered form without coupons in denominations of $2,000 and integral
multiples of $1,000.  As provided in the
Indenture and subject to certain limitations therein set forth, Securities of
this series are exchangeable for a like aggregate principal amount of
Securities of this series and of like tenor of a different authorized
denomination, as requested by the Holder surrendering the same.

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

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

All
terms used in this Security which are defined in the Indenture shall have the
meanings assigned to them in the Indenture.

This
Security is a Book-Entry Security within the meaning of the Indenture
hereinafter referred to and is registered in the name of a Depository or a
nominee of a Depository.  This Security
is exchangeable for Securities registered in the name of a person other than
the Depository or its nominee only in the limited circumstances described in
the Indenture and may not be transferred except as a whole by the Depository to
a nominee of the Depository or by a nominee of the Depository to the Depository
or another nominee of the Depository.

*     *     *

 8

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