Document:

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                                                                     EXHIBIT 4.5

                          THIRD SUPPLEMENTAL INDENTURE

                  THIRD SUPPLEMENTAL INDENTURE (this "Supplemental Indenture"),
dated as of March 12, 2001, among Indiana Gaming Company, L.P. (the
"Guaranteeing Subsidiary"), Argosy Gaming Company, a Delaware corporation (the
"Company"), Argosy of Iowa, an Iowa corporation, Centroplex Centre Convention
Hotel, L.L.C., a Louisiana limited liability company, Alton Gaming Company, an
Illinois corporation, Argosy of Louisiana, Inc., a Louisiana corporation,
Catfish Queen Partnership in Commendam, a Louisiana partnership, The Indiana
Gaming Company, an Indiana corporation, Iowa Gaming Company, an Iowa
corporation, Jazz Enterprises, Inc., a Louisiana corporation and The Missouri
Gaming Company, a Missouri corporation, Belle of Sioux City, L.P., an Iowa
limited partnership, Indiana Gaming II, L.P., an Indiana limited partnership and
Indiana Gaming Holding Company, an Indiana corporation (collectively, the
"Subsidiary Guarantors") and Bank One Trust Company, NA, as trustee under the
Indenture referred to below (the "Trustee").

                               W I T N E S S E T H

                  WHEREAS, the Company and the Subsidiary Guarantors have
heretofore executed and delivered to the Trustee an Indenture dated as of
June 8, 1999 as supplemented by a First Supplemental Indenture, dated as of
February 8, 2001, as further supplemented by a Second Supplemental Indenture,
dated as of March 12, 2001 (the "Indenture") providing for the issuance of an
initial principal amount of $350,000,000 of 10 3/4% Senior Subordinated Notes
due 2009 (the "Notes");

                  WHEREAS, the Indenture provides that under certain
circumstances the Guaranteeing Subsidiary shall execute and deliver to the
Trustee a supplemental indenture pursuant to which the Guaranteeing Subsidiary
shall unconditionally guarantee all of the Company's Obligations under the Notes
and the Indenture on the terms and conditions set forth herein (the "Subsidiary
Guarantee"); and

                  WHEREAS, pursuant to Section 9.01 of the Indenture, the
Trustee is authorized to execute and deliver this Supplemental Indenture.

                  NOW THEREFORE, in consideration of the foregoing and for other
good and valuable consideration, the receipt of which is hereby acknowledged,
the parties hereto do hereby mutually covenant and agree as follows:

                  1.    CAPITALIZED TERMS.  Capitalized terms used herein
without definition shall have the meanings assigned to them in the Indenture.

                  2.    AGREEMENT TO GUARANTEE. The Guaranteeing Subsidiary
hereby agrees as follows:

                  (a)   Along with all Subsidiary Guarantors named in the
         Indenture, to jointly and severally Guarantee to each Holder of a Note
         authenticated and delivered by the Trustee and to the Trustee and its
         successors and assigns, the Notes or the obligations of the Company
         hereunder or thereunder, that:

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                        (i) the principal of and interest on the Notes will
                  be promptly paid in full when due, whether at maturity, by
                  acceleration, redemption or otherwise, and interest on the
                  overdue principal of and interest on the Notes, if any, if
                  lawful, and all other obligations of the Company to the
                  Holders or the Trustee hereunder or thereunder will be
                  promptly paid in full or performed, all in accordance with the
                  terms hereof and thereof; and

                        (ii) in case of any extension of time of payment or
                  renewal of any Notes or any of such other obligations, that
                  same will be promptly paid in full when due or performed in
                  accordance with the terms of the extension or renewal, whether
                  at stated maturity, by acceleration or otherwise. Failing
                  payment when due of any amount so guaranteed or any
                  performance so guaranteed for whatever reason, the Subsidiary
                  Guarantors shall be jointly and severally obligated to pay the
                  same immediately.

                  (b)   The obligations hereunder shall be unconditional,
         irrespective of the validity, regularity or enforceability of the Notes
         or the Indenture, the absence of any action to enforce the same, any
         waiver or consent by any Holder of the Notes with respect to any
         provisions hereof or thereof, the recovery of any judgment against the
         Company, any action to enforce the same or any other circumstance which
         might otherwise constitute a legal or equitable discharge or defense of
         a guarantor.

                  (c)   The following is hereby waived: diligence presentment,
         demand of payment, filing of claims with a court in the event of
         insolvency or bankruptcy of the Company, any right to require a
         proceeding first against the Company, protest, notice and all demands
         whatsoever.

                  (d)   This Subsidiary Guarantee shall not be discharged except
         by complete performance of the obligations contained in the Notes and
         the Indenture, and the Guaranteeing Subsidiary accepts all obligations
         of a Subsidiary Guarantor under the Indenture.

                  (e)   If any Holder or the Trustee is required by any court or
         otherwise to return to the Company, the Subsidiary Guarantors, or any
         Custodian, Trustee, liquidator or other similar official acting in
         relation to either the Company or the Subsidiary Guarantors, any amount
         paid by either to the Trustee or such Holder, this Subsidiary
         Guarantee, to the extent theretofore discharged, shall be reinstated in
         full force and effect.

                  (f)   The Guaranteeing Subsidiary shall not be entitled to any
         right of subrogation in relation to the Holders in respect of any
         obligations guaranteed hereby until payment in full of all obligations
         guaranteed hereby.

                  (g)   As between the Subsidiary Guarantors, on the one hand,
         and the Holders and the Trustee, on the other hand, (x) the maturity
         of the obligations guaranteed hereby may be accelerated as provided in
         Article 6 of the Indenture for the purposes of this Subsidiary
         Guarantee, notwithstanding any stay, injunction or other prohibition
         preventing such acceleration in respect of the obligations guaranteed
         hereby, and (y) in

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         the event of any declaration of acceleration of such obligations
         as provided in Article 6 of the Indenture, such obligations (whether or
         not due and payable) shall forthwith become due and payable by the
         Subsidiary Guarantors for the purpose of this Subsidiary Guarantee.

                  (h)   The Subsidiary Guarantors shall have the right to seek
         contribution from any non-paying Subsidiary Guarantor so long as the
         exercise of such right does not impair the rights of the Holders under
         the Guarantee.

                  (i)   Pursuant to Section 11.03 of the Indenture, after giving
         effect to any maximum amount and any other contingent and fixed
         liabilities that are relevant under any applicable Bankruptcy or
         fraudulent conveyance laws, and after giving effect to any collections
         from, rights to receive contribution from or payments made by or on
         behalf of any other Subsidiary Guarantor in respect of the obligations
         of such other Subsidiary Guarantor under Article 11 of the Indenture,
         this new Subsidiary Guarantee shall be limited to the maximum amount
         permissible such that the obligations of such Subsidiary Guarantor
         under this Subsidiary Guarantee will not constitute a fraudulent
         transfer or conveyance.

                  (j)   Pursuant to Section 11.02 of the Indenture, the
         obligations of each Subsidiary Guarantor under its Subsidiary Guarantee
         pursuant to Article II of the Indenture shall be junior and
         subordinated to the Senior Indebtedness of such Subsidiary Guarantor on
         the same basis as the Notes are junior and subordinated to the Senior
         Indebtedness of the Company.

                  3.    EXECUTION AND DELIVERY.  Each Guaranteeing Subsidiary
agrees that the Subsidiary Guarantees shall remain in full force and effect
notwithstanding any failure to endorse on each Note a notation of such
Subsidiary Guarantee.

                  4.    GUARANTEEING SUBSIDIARY MAY CONSOLIDATE, ETC. ON
CERTAIN TERMS.

                  (a)   The Guaranteeing Subsidiary may not consolidate with or
merge with or into (whether or not such Subsidiary Guarantor is the surviving
Person) another corporation, Person or entity whether or not affiliated with
such Subsidiary Guarantor unless:

                  (i)   subject to Sections 11.05 and 11.06 of the Indenture,
          the Person formed by or surviving any such consolidation or merger (if
          other than a Subsidiary Guarantor or the Company) unconditionally
          assumes all the obligations of such Subsidiary Guarantor, pursuant to
          a supplemental indenture in form and substance reasonably satisfactory
          to the Trustee, under the Notes, the Indenture and the Subsidiary
          Guarantee on the terms set forth herein or therein; and

                  (ii)  immediately after giving effect to such transaction, no
          Default or Event of Default exists.

                  (b)   In case of any such consolidation, merger, sale or
conveyance and upon the assumption by the successor corporation, by supplemental
indenture, executed and delivered

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to the Trustee and satisfactory in form to the Trustee, of the Subsidiary
Guarantee endorsed upon the Notes and the due and punctual performance of all of
the covenants and conditions of the Indenture to be performed by the Subsidiary
Guarantor, such successor corporation shall succeed to and be substituted for
the Subsidiary Guarantor with the same effect as if it had been named herein as
a Subsidiary Guarantor. Such successor corporation thereupon may cause to be
signed any or all of the Subsidiary Guarantees to be endorsed upon all of the
Notes issuable hereunder which theretofore shall not have been signed by the
Company and delivered to the Trustee. All the Subsidiary Guarantees so issued
shall in all respects have the same legal rank and benefit under the Indenture
as the Subsidiary Guarantees theretofore and thereafter issued in accordance
with the terms of the Indenture as though all of such Subsidiary Guarantees had
been issued at the date of the execution hereof.

                 (c)   Except as set forth in Articles 4 and 5 and Section 11.05
of Article 11 of the Indenture, and notwithstanding clauses (a) and (b) above,
nothing contained in the Indenture or in any of the Notes shall prevent any
consolidation or merger of a Subsidiary Guarantor with or into the Company or
another Subsidiary Guarantor, or shall prevent any sale or conveyance of the
property of a Subsidiary Guarantor as an entirety or substantially as an
entirety to the Company or another Subsidiary Guarantor.

                  5.   RELEASES.

                  (a)  In the event of a sale or other disposition of all of the
assets of any Subsidiary Guarantor, by way of merger, consolidation or
otherwise, or a sale or other disposition of all to the capital stock of any
Subsidiary Guarantor, in each case to a Person that is not (either before or
after giving effect to such transaction) a Restricted Subsidiary of the Company,
then such Subsidiary Guarantor (in the event of a sale or other disposition, by
way of merger, consolidation or otherwise, of all of the capital stock of such
Subsidiary Guarantor) or the corporation acquiring the property (in the event of
a sale or other disposition of all or substantially all of the assets of such
Subsidiary Guarantor) will be released and relieved of any obligations under its
Subsidiary Guarantee; PROVIDED that the Net Proceeds of such sale or other
disposition are applied in accordance with the applicable provisions of the
Indenture, including without limitation Section 4.15 of the Indenture. Upon
delivery by the Company to the Trustee of an Officers' Certificate and an
Opinion of Counsel to the effect that such sale or other disposition was made by
the Company in accordance with the provisions of the Indenture, including
without limitation Section 4.15 of the Indenture, the Trustee shall execute any
documents reasonably required in order to evidence the release of any Subsidiary
Guarantor from its obligations under its Subsidiary Guarantee.

                  (b)  Any Subsidiary Guarantor not released from its
obligations under its Subsidiary Guarantee shall remain liable for the full
amount of principal of and interest on the Notes and for the other obligations
of any Subsidiary Guarantor under the Indenture as provided in Article 11 of the
Indenture.

                  6.   NO RECOURSE AGAINST OTHERS. No past, present or future
director, officer, employee, incorporator, stockholder or agent of the
Guaranteeing Subsidiary, as such, shall have any liability for any obligations
of the Company or any Guaranteeing Subsidiary under the Notes, any Subsidiary
Guarantees, the Indenture or this Supplemental Indenture or for

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any claim based on, in respect of, or by reason of, such obligations or their
creation. Each Holder of the Notes by accepting a Note waives and releases all
such liability. The waiver and release are part of the consideration for
issuance of the Notes. Such waiver may not be effective to waive liabilities
under the federal securities laws and it is the view of the SEC that such a
waiver is against public policy.

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

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

                  9.   EFFECT OF HEADINGS. The Section headings herein are for
convenience only and shall not affect the construction hereof.

                  10.  THE TRUSTEE.  The Trustee shall not be responsible in any
manner whatsoever for or in respect of the validity or sufficiency of this
Supplemental Indenture or for or in respect of the recitals contained herein,
all of which recitals are made solely by the Guaranteeing Subsidiary and the
Company.

                            (SIGNATURE PAGE FOLLOWS)

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                  IN WITNESS WHEREOF, the parties hereto have caused this Third
Supplemental Indenture to be duly executed and attested, all as of the date
first above written.

Dated:  March 12, 2001
                                       INDIANA GAMING COMPANY, L.P.

                                       By: THE INDIANA GAMING COMPANY
                                           its General Partner

                                            By: /s/ Dale R. Black
                                               ---------------------------------
                                               Dale R. Black
                                               Treasurer

                                       ARGOSY GAMING COMPANY

                                       By: /s/ Dale R. Black
                                          --------------------------------------
                                          Dale R. Black
                                          Senior Vice President and
                                          Chief Financial Officer

                                       ARGOSY OF IOWA, INC.

                                       By: /s/ Dale R. Black
                                          --------------------------------------
                                          Dale R. Black
                                          Treasurer

                                       CENTROPLEX CENTRE CONVENTION HOTEL,
                                        L.L.C.

                                       By: Arogsy Gaming Company
                                           its Sole Member

                                           By: /s/ Dale R. Black
                                              ----------------------------------
                                              Dale R. Black
                                              Senior Vice President and
                                              Chief Financial Officer

                                       ALTON GAMING COMPANY

                                       By: /s/ Dale R. Black
                                          --------------------------------------
                                          Dale R. Black
                                          Treasurer

                                     S-1

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                                       ARGOSY OF LOUISIANA, INC.

                                       By: /s/ Dale R. Black
                                          --------------------------------------
                                          Dale R. Black
                                          Treasurer

                                       CATFISH QUEEN PARTNERSHIP IN COMMENDAM

                                       By: ARGOSY OF LOUISIANA, INC.
                                           its General Partner

                                            By: /s/ Dale R. Black
                                               ---------------------------------
                                               Dale R. Black
                                               Treasurer

                                       THE INDIANA GAMING COMPANY

                                       By: /s/ Dale R. Black
                                          --------------------------------------
                                          Dale R. Black
                                          Treasurer

                                       IOWA GAMING COMPANY

                                       By: /s/ Dale R. Black
                                          --------------------------------------
                                          Dale R. Black
                                          Treasurer

                                       JAZZ ENTERPRISES, INC.

                                       By: /s/ Dale R. Black
                                          --------------------------------------
                                          Dale R. Black
                                          Treasurer

                                       THE MISSOURI GAMING COMPANY

                                       By: /s/ Dale R. Black
                                          --------------------------------------
                                          Dale R. Black
                                          Treasurer

                                     S-2

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                                       BELLE OF SIOUX CITY, L.P.

                                       By: IOWA GAMING COMPANY
                                           its General Partner

                                           By: /s/ Dale R. Black
                                              ----------------------------------
                                              Dale R. Black
                                              Treasurer

                                       INDIANA GAMING II, L.P.

                                       By: INDIANA GAMING HOLDING COMPANY
                                           its General Partner

                                           By: /s/ Dale R. Black
                                              ----------------------------------
                                              Dale R. Black
                                              Treasurer

                                       INDIANA GAMING HOLDING COMPANY

                                           By: /s/ Dale R. Black
                                              ----------------------------------
                                              Dale R. Black
                                              Treasurer

                                       BANK ONE TRUST COMPANY, NA
                                        as Trustee

                                       By: /s/ David Knox
                                           -------------------------------------
                                           Authorized Signator

                                     S-3<PAGE>

                                                                    Exhibit 4.6

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

                          REGISTRATION RIGHTS AGREEMENT

                             Dated February 8, 2001

                                      among

                              ARGOSY GAMING COMPANY
                              ALTON GAMING COMPANY
                              ARGOSY OF IOWA, INC.
                            ARGOSY OF LOUISIANA, INC.
                        CATFISH PARTNERSHIP IN COMMENDAM
                   CENTROPLEX CENTRE CONVENTION HOTEL, L.L.C.
                           THE INDIANA GAMING COMPANY
                               IOWA GAMING COMPANY
                             JAZZ ENTERPRISES, INC.
                           THE MISSOURI GAMING COMPANY

                                       and

                        MORGAN STANLEY & CO. INCORPORATED
                         BANC OF AMERICA SECURITIES LLC
                       WELLS FARGO BROKERAGE SERVICES, LLC

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

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                          REGISTRATION RIGHTS AGREEMENT

                  THIS REGISTRATION RIGHTS AGREEMENT (the "Agreement") is made
and entered into February 8, 2001, between Argosy Gaming Company, a Delaware
corporation (the "Company"), Alton Gaming Company, an Illinois corporation,
ARGOSY OF IOWA, INC., an Iowa corporation, Argosy of Louisiana, Inc., a
Louisiana corporation, Catfish Partnership in Commendam, a Louisiana limited
partnership, CENTROPLEX CENTRE CONVENTION HOTEL, L.L.C., a Louisiana limited
liability company, The Indiana Gaming Company, an Indiana corporation, Iowa
Gaming Company, an Iowa corporation, Jazz Enterprises, Inc., a Louisiana
corporation and The Missouri Gaming Company, a Missouri corporation, as
guarantors (the "Subsidiary Guarantors"), and MORGAN STANLEY & CO. INCORPORATED,
BANC OF AMERICA SECURITIES LLC and WELLS FARGO BROKERAGE SERVICES, LLC, as
placement agents (the "Placement Agents").

                  This Agreement is made pursuant to the Placement Agreement
dated February 1, 2001, between the Company, the Subsidiary Guarantors (except
Argosy of Iowa and Centroplex Centre Convention Hotel, L.L.C.) and the Placement
Agents (the "Placement Agreement"), which provides for the sale by the Company
to the Placement Agents of an additional $150,000,000 (the "New Securities")
aggregate principal amount of the Company's outstanding 10 3/4% Senior
Subordinated Notes Due 2009 (the " Outstanding Securities" and together with the
New Securities, the "Securities"). In order to induce the Placement Agents to
enter into the Placement Agreement, the Company has agreed to provide to the
Placement Agents and their direct and indirect transferees the registration
rights set forth in this Agreement. The execution of this Agreement is a
condition to the closing under the Placement Agreement.

                  In consideration of the foregoing, the parties hereto agree as
follows:

                  1. DEFINITIONS.

                  As used in this Agreement, the following capitalized defined
terms shall have the following meanings:

                  "1933 ACT" shall mean the Securities Act of 1933, as amended
         from time to time.

                  "1934 ACT" shall mean the Securities Exchange Act of 1934, as
         amended from time to time.

                  "CLOSING DATE" shall mean the Closing Date as defined in the
         Placement Agreement.

                  "COMPANY" shall have the meaning set forth in the preamble and
         shall also include the Company's successors.

                  "EXCHANGE DATES" shall have the meaning set forth in Section
         2(a)(ii) hereof.

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                  "EXCHANGE OFFER" shall mean the exchange offer by the Company
         of Exchange Securities for Registrable Securities pursuant to Section
         2(a) hereof.

                  "EXCHANGE OFFER REGISTRATION" shall mean a registration under
         the 1933 Act effected pursuant to Section 2(a) hereof.

                  "EXCHANGE OFFER REGISTRATION STATEMENT" shall mean an exchange
         offer registration statement on Form S-4 (or, if applicable, on another
         appropriate form) and all amendments and supplements to such
         registration statement, in each case including the Prospectus contained
         therein, all exhibits thereto and all material incorporated by
         reference therein.

                  "EXCHANGE SECURITIES" shall mean securities issued by the
         Company under the Indenture containing terms identical to the New
         Securities, (except that (i) interest thereon shall accrue from the
         last date on which interest was paid on the Securities or, if no such
         interest has been paid, from February 8, 2001 and (ii) the Exchange
         Securities will not contain restrictions on transfer and to be offered
         to Holders of Registrable Securities in exchange for New Securities
         pursuant to the Exchange Offer.

                  "HOLDER" shall mean the Placement Agents, for so long as they
         own any Registrable Securities, and each of their successors, assigns
         and direct and indirect transferees who become registered owners of
         Registrable Securities under the Indenture; PROVIDED that for purposes
         of Sections 4 and 5 of this Agreement, the term "Holder" shall include
         Participating Broker-Dealers (as defined in Section 4(a)).

                  "INDENTURE" shall mean the Indenture relating to the
         Securities dated as of June 8, 1999 among the Company, the Subsidiary
         Guarantors and Bank One Trust Company, NA, as trustee, and as the same
         may be amended from time to time in accordance with the terms thereof.

                  "MAJORITY HOLDERS" shall mean the Holders of a majority of the
         aggregate principal amount of outstanding Registrable Securities;
         PROVIDED that whenever the consent or approval of Holders of a
         specified percentage of Registrable Securities is required hereunder,
         Registrable Securities held by the Company or any of its affiliates (as
         such term is defined in Rule 405 under the 1933 Act) (other than the
         Placement Agents or subsequent Holders of Registrable Securities if
         such subsequent holders are deemed to be such affiliates solely by
         reason of their holding of such Registrable Securities) shall not be
         counted in determining whether such consent or approval was given by
         the Holders of such required percentage or amount.

                  "PERSON" shall mean an individual, partnership, limited
         liability company, corporation, trust or unincorporated organization,
         or a government or agency or political subdivision thereof.

                  "PLACEMENT AGENTS" shall have the meaning set forth in the
         preamble.

                  "PLACEMENT AGREEMENT" shall have the meaning set forth in the
         preamble.

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<PAGE>

                  "PROSPECTUS" shall mean the prospectus included in a
         Registration Statement, including any preliminary prospectus, and any
         such prospectus as amended or supplemented by any prospectus
         supplement, including a prospectus supplement with respect to the terms
         of the offering of any portion of the Registrable Securities covered by
         a Shelf Registration Statement, and by all other amendments and
         supplements to such prospectus, and in each case including all material
         incorporated by reference therein.

                  "REGISTRABLE SECURITIES" shall mean the New Securities;
         PROVIDED, HOWEVER, that the Securities shall cease to be Registrable
         Securities (i) when a Registration Statement with respect to such
         Securities shall have been declared effective under the 1933 Act and
         such Securities shall have been disposed of pursuant to such
         Registration Statement, (ii) when such Securities have been sold to the
         public pursuant to Rule 144(k) (or any similar provision then in force,
         but not Rule 144A) under the 1933 Act or (iii) when such Securities
         shall have ceased to be outstanding.

                  "REGISTRATION EXPENSES" shall mean any and all expenses
         incident to performance of or compliance by the Company with this
         Agreement, including without limitation: (i) all SEC, stock exchange or
         National Association of Securities Dealers, Inc. registration and
         filing fees, (ii) all fees and expenses incurred in connection with
         compliance with state securities or blue sky laws (including reasonable
         fees and disbursements of counsel for any underwriters or Holders in
         connection with blue sky qualification of any of the Exchange
         Securities or Registrable Securities), (iii) all expenses of any
         Persons in preparing or assisting in preparing, word processing,
         printing and distributing any Registration Statement, any Prospectus,
         any amendments or supplements thereto, any underwriting agreements,
         securities sales agreements and other documents relating to the
         performance of and compliance with this Agreement, (iv) all rating
         agency fees, (v) all fees and disbursements relating to the
         qualification of the Indenture under applicable securities laws, (vi)
         the fees and disbursements of the Trustee and its counsel, (vii) the
         fees and disbursements of counsel for the Company and, in the case of a
         Shelf Registration Statement, the fees and disbursements of one counsel
         for the Holders (which counsel shall be selected by the Majority
         Holders and which counsel may also be counsel for the Placement Agents)
         and (viii) the fees and disbursements of the independent public
         accountants of the Company, including the expenses of any special
         audits or "cold comfort" letters required by or incident to such
         performance and compliance, but excluding fees and expenses of counsel
         to the underwriters (other than fees and expenses set forth in clause
         (ii) above) or the Holders and underwriting discounts and commissions
         and transfer taxes, if any, relating to the sale or disposition of
         Registrable Securities by a Holder.

                  "REGISTRATION STATEMENT" shall mean any registration statement
         of the Company that covers any of the Exchange Securities or
         Registrable Securities pursuant to the provisions of this Agreement and
         all amendments and supplements to any such Registration Statement,
         including post-effective amendments, in each case including the
         Prospectus contained therein, all exhibits thereto and all material
         incorporated by reference therein.

                  "SEC" shall mean the Securities and Exchange Commission.

                                       3

<PAGE>

                  "SHELF REGISTRATION" shall mean a registration effected
         pursuant to Section 2(b) hereof.

                  "SHELF REGISTRATION STATEMENT" shall mean a "shelf"
         registration statement of the Company pursuant to the provisions of
         Section 2(b) of this Agreement which covers all of the Registrable
         Securities (but no other securities unless approved by the Holders
         whose Registrable Securities are covered by such Shelf Registration
         Statement) on an appropriate form under Rule 415 under the 1933 Act, or
         any similar rule that may be adopted by the SEC, and all amendments and
         supplements to such registration statement, including post-effective
         amendments, in each case including the Prospectus contained therein,
         all exhibits thereto and all material incorporated by reference
         therein.

                  "SUBSIDIARY GUARANTORS" shall have the meaning set forth in
         the preamble.

                  "TRUSTEE" shall mean the trustee with respect to the
         Securities under the Indenture.

                  "UNDERWRITER" shall have the meaning set forth in Section 3
         hereof.

                  "UNDERWRITTEN REGISTRATION" or "UNDERWRITTEN OFFERING" shall
         mean a registration in which Registrable Securities are sold to an
         Underwriter for reoffering to the public.

                  2. REGISTRATION UNDER THE 1933 ACT.

                  (a) To the extent not prohibited by any applicable law or
applicable interpretation of the Staff of the SEC, the Company and the
Subsidiary Guarantors shall use their best efforts to cause to be filed an
Exchange Offer Registration Statement covering the offer by the Company and the
Subsidiary Guarantors to the Holders to exchange all of the Registrable
Securities for Exchange Securities and to have such Registration Statement
remain effective until the closing of the Exchange Offer. The Company and the
Subsidiary Guarantors shall commence the Exchange Offer promptly after the
Exchange Offer Registration Statement has been declared effective by the SEC and
use their best efforts to have the Exchange Offer consummated not later than 60
days after such effective date; PROVIDED, HOWEVER, the Company and the
Subsidiary Guarantors shall not commence an Exchange Offer prior to June 2,
2001. The Company shall commence the Exchange Offer by mailing the related
exchange offer Prospectus and accompanying documents to each Holder stating, in
addition to such other disclosures as are required by applicable law:

                  (i) that the Exchange Offer is being made pursuant to this
         Registration Rights Agreement and that all Registrable Securities
         validly tendered will be accepted for exchange;

                  (ii) the dates of acceptance for exchange (which shall be a
         period of at least 20 business days from the date such notice is
         mailed) (the "Exchange Dates");

                  (iii) that any Registrable Security not tendered will remain
         outstanding and continue to accrue interest, but will not retain any
         rights under this Registration Rights Agreement;

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<PAGE>

                  (iv) that Holders electing to have a Registrable Security
         exchanged pursuant to the Exchange Offer will be required to surrender
         such Registrable Security, together with the enclosed letters of
         transmittal, to the institution and at the address (located in the
         Borough of Manhattan, The City of New York) and in the manner specified
         in the notice prior to the close of business on the last Exchange Date;
         and

                  (v) that Holders will be entitled to withdraw their election,
         not later than the close of business on the last Exchange Date, by
         sending to the institution and at the address (located in the Borough
         of Manhattan, The City of New York) specified in the notice a telegram,
         telex, facsimile transmission or letter setting forth the name of such
         Holder, the principal amount of Registrable Securities delivered for
         exchange and a statement that such Holder is withdrawing its election
         to have such Securities exchanged.

                  As soon as practicable after the last Exchange Date, the
Company shall:

                  (i) accept for exchange Registrable Securities or portions
         thereof tendered and not validly withdrawn pursuant to the Exchange
         Offer; and

                  (ii) deliver, or cause to be delivered, to the Trustee for
         cancellation all Registrable Securities or portions thereof so accepted
         for exchange by the Company and issue, and cause the Trustee to
         promptly authenticate and mail to each Holder, an Exchange Security
         equal in principal amount to the principal amount of the Registrable
         Securities surrendered by such Holder.

The Company shall use its best efforts to complete the Exchange Offer as
provided above and shall comply with the applicable requirements of the 1933
Act, the 1934 Act and other applicable laws and regulations in connection with
the Exchange Offer. The Exchange Offer shall not be subject to any conditions,
other than that the Exchange Offer does not violate applicable law or any
applicable interpretation of the Staff of the SEC. The Company shall inform the
Placement Agents of the names and addresses of the Holders to whom the Exchange
Offer is made, and the Placement Agents shall have the right, subject to
applicable law, to contact such Holders and otherwise facilitate the tender of
Registrable Securities in the Exchange Offer.

                  (b) In the event that (i) the Company determines that the
Exchange Offer Registration provided for in Section 2(a) above is not available
or may not be consummated as soon as practicable after the last Exchange Date
because it would violate applicable law or the applicable interpretations of the
Staff of the SEC, (ii) the Exchange Offer is not for any other reason
consummated by August 8, 2001 or (iii) the Exchange Offer has been completed and
in the opinion of counsel for the Placement Agents a Registration Statement must
be filed and a Prospectus must be delivered by the Placement Agents in
connection with any offering or sale of Registrable Securities, the Company
shall use its best efforts to cause to be filed as soon as practicable after
such determination, date or notice of such opinion of counsel is given to the
Company, as the case may be, a Shelf Registration Statement providing for the
sale by the Holders of all of the Registrable Securities and to have such Shelf
Registration Statement declared effective by the SEC. In the event the Company
is required to file a Shelf Registration Statement solely as a result of the
matters referred to in clause (iii) of the preceding sentence, the Company shall
use its best efforts to file and have declared effective by the SEC both an

                                       5

<PAGE>

Exchange Offer Registration Statement pursuant to Section 2(a) with respect to
all Registrable Securities and a Shelf Registration Statement (which may be a
combined Registration Statement with the Exchange Offer Registration Statement)
with respect to offers and sales of Registrable Securities held by the Placement
Agents after completion of the Exchange Offer. The Company agrees to use its
best efforts to keep the Shelf Registration Statement continuously effective
until the expiration of the period referred to in Rule 144(k) with respect to
the Registrable Securities or such shorter period that will terminate when all
of the Registrable Securities covered by the Shelf Registration Statement have
been sold pursuant to the Shelf Registration Statement. The Company further
agrees to supplement or amend the Shelf Registration Statement if required by
the rules, regulations or instructions applicable to the registration form used
by the Company for such Shelf Registration Statement or by the 1933 Act or by
any other rules and regulations thereunder for shelf registration or if
reasonably requested by a Holder of Registrable Securities with respect to
information relating to such Holder, and to use its best efforts to cause any
such amendment to become effective and such Shelf Registration Statement to
become usable as soon as thereafter practicable. The Company agrees to furnish
to the Holders of Registrable Securities copies of any such supplement or
amendment promptly after its being used or filed with the SEC.

                  (c) The Company shall pay all Registration Expenses in
connection with the registration pursuant to Section 2(a) and Section 2(b). Each
Holder shall pay all underwriting discounts and commissions and transfer taxes,
if any, relating to the sale or disposition of such Holder's Registrable
Securities pursuant to the Shelf Registration Statement.

                  (d) An Exchange Offer Registration Statement pursuant to
Section 2(a) hereof or a Shelf Registration Statement pursuant to Section 2(b)
hereof will not be deemed to have become effective unless it has been declared
effective by the SEC; PROVIDED, HOWEVER, that, if, after it has been declared
effective, the offering of Registrable Securities pursuant to a Shelf
Registration Statement is interfered with by any stop order, injunction or other
order or requirement of the SEC or any other governmental agency or court, such
Registration Statement will be deemed not to have become effective during the
period of such interference until the offering of Registrable Securities
pursuant to such Registration Statement may legally resume. In the event that
either the Exchange Offer is not consummated or the Shelf Registration
Statement, if required hereby, is not declared effective on or prior to August
8, 2001, the interest rate on the New Securities will be increased by 0.5% per
annum until the Exchange Offer is consummated or the Shelf Registration
Statement, if required hereby, is declared effective by the SEC.

                  (e) Without limiting the remedies available to the Placement
Agents and the Holders, the Company acknowledges that any failure by the Company
to comply with its obligations under Section 2(a) and Section 2(b) hereof may
result in material irreparable injury to the Placement Agents or the Holders for
which there is no adequate remedy at law, that it will not be possible to
measure damages for such injuries precisely and that, in the event of any such
failure, the Placement Agents or any Holder may obtain such relief as may be
required to specifically enforce the Company's obligations under Section 2(a)
and Section 2(b) hereof.

                                       6

<PAGE>

                  3. REGISTRATION PROCEDURES.

                  In connection with the obligations of the Company with respect
to the Registration Statements pursuant to Section 2(a) and Section 2(b) hereof,
the Company shall as expeditiously as possible:

                  (a) prepare and file with the SEC a Registration Statement on
the appropriate form under the 1933 Act, which form (x) shall be selected by the
Company and (y) shall, in the case of a Shelf Registration, be available for the
sale of the Registrable Securities by the selling Holders thereof and (z) shall
comply as to form in all material respects with the requirements of the
applicable form and include all financial statements required by the SEC to be
filed therewith, and use its best efforts to cause such Registration Statement
to become effective and remain effective in accordance with Section 2 hereof;

                  (b) prepare and file with the SEC such amendments and
post-effective amendments to each Registration Statement as may be necessary to
keep such Registration Statement effective for the applicable period and cause
each Prospectus to be supplemented by any required prospectus supplement and, as
so supplemented, to be filed pursuant to Rule 424 under the 1933 Act; to keep
each Prospectus current during the period described under Section 4(3) and Rule
174 under the 1933 Act that is applicable to transactions by brokers or dealers
with respect to the Registrable Securities or Exchange Securities;

                  (c) in the case of a Shelf Registration, furnish to each
Holder of Registrable Securities, to counsel for the Placement Agents, to
counsel for such Holders and to each Underwriter of an Underwritten Offering of
Registrable Securities, if any, without charge, as many copies of each
Prospectus, including each preliminary Prospectus, and any amendment or
supplement thereto and such other documents as such Holder or Underwriter may
reasonably request, in order to facilitate the public sale or other disposition
of the Registrable Securities; and the Company consents to the use of such
Prospectus and any amendment or supplement thereto in accordance with applicable
law by each of the selling Holders of Registrable Securities and any such
Underwriters in connection with the offering and sale of the Registrable
Securities covered by and in the manner described in such Prospectus or any
amendment or supplement thereto in accordance with applicable law;

                  (d) use its best efforts to register or qualify the
Registrable Securities under all applicable state securities or "blue sky" laws
of such jurisdictions as any Holder of Registrable Securities covered by a
Registration Statement shall reasonably request in writing by the time the
applicable Registration Statement is declared effective by the SEC, to cooperate
with such Holders in connection with any filings required to be made with the
National Association of Securities Dealers, Inc. and do any and all other acts
and things which may be reasonably necessary or advisable to enable such Holder
to consummate the disposition in each such jurisdiction of such Registrable
Securities owned by such Holder; PROVIDED, HOWEVER, that the Company shall not
be required to (i) qualify as a foreign corporation or as a dealer in securities
in any jurisdiction where it would not otherwise be required to qualify but for
this Section 3(d), (ii) file any general consent to service of process or (iii)
subject itself to taxation in any such jurisdiction if it is not so subject;

                                       7

<PAGE>

                  (e) in the case of a Shelf Registration, notify each Holder of
Registrable Securities, counsel for such Holders and counsel for the Placement
Agents promptly and, if requested by any such Holder or counsel, confirm such
advice in writing (i) when a Registration Statement has become effective and
when any post-effective amendment thereto has been filed and becomes effective,
(ii) of any request by the SEC or any state securities authority for amendments
and supplements to a Registration Statement and Prospectus or for additional
information after the Registration Statement has become effective, (iii) of the
issuance by the SEC or any state securities authority of any stop order
suspending the effectiveness of a Registration Statement or the initiation of
any proceedings for that purpose, (iv) if, between the effective date of a
Registration Statement and the closing of any sale of Registrable Securities
covered thereby, the representations and warranties of the Company contained in
any underwriting agreement, securities sales agreement or other similar
agreement, if any, relating to the offering cease to be true and correct in all
material respects or if the Company receives any notification with respect to
the suspension of the qualification of the Registrable Securities for sale in
any jurisdiction or the initiation of any proceeding for such purpose, (v) of
the happening of any event during the period a Shelf Registration Statement is
effective which makes any statement made in such Registration Statement or the
related Prospectus untrue in any material respect or which requires the making
of any changes in such Registration Statement or Prospectus in order to make the
statements therein not misleading and (vi) of any determination by the Company
that a post-effective amendment to a Registration Statement would be
appropriate;

                  (f) make every reasonable effort to obtain the withdrawal of
any order suspending the effectiveness of a Registration Statement at the
earliest possible moment and provide immediate notice to each Holder of the
withdrawal of any such order;

                  (g) in the case of a Shelf Registration, furnish to each
Holder of Registrable Securities, without charge, at least one conformed copy of
each Registration Statement and any post-effective amendment thereto (without
documents incorporated therein by reference or exhibits thereto, unless
requested);

                  (h) in the case of a Shelf Registration, cooperate with the
selling Holders of Registrable Securities to facilitate the timely preparation
and delivery of certificates representing Registrable Securities to be sold and
not bearing any restrictive legends and enable such Registrable Securities to be
in such denominations (consistent with the provisions of the Indenture) and
registered in such names as the selling Holders may reasonably request at least
one business day prior to the closing of any sale of Registrable Securities;

                  (i) in the case of a Shelf Registration, upon the occurrence
of any event contemplated by Section 3(e)(v) hereof, use its best efforts to
prepare and file with the SEC a supplement or post-effective amendment to a
Registration Statement or the related Prospectus or any document incorporated
therein by reference or file any other required document so that, as thereafter
delivered to the purchasers of the Registrable Securities, such Prospectus will
not contain any untrue statement of a material fact or omit to state a material
fact necessary to make the statements therein, in the light of the circumstances
under which they were made, not misleading. The Company agrees to notify the
Holders of Registrable Securities to suspend use of the Prospectus as promptly
as practicable after the occurrence of such an event, and such

                                       8

<PAGE>

Holders hereby agree to suspend use of the Prospectus until the Company has
amended or supplemented the Prospectus to correct such misstatement or
omission;

                  (j) a reasonable time prior to the filing of any Registration
Statement, any Prospectus, any amendment to a Registration Statement or
amendment or supplement to a Prospectus after initial filing of a Registration
Statement, provide copies of such document to the Placement Agents and their
counsel (and, in the case of a Shelf Registration Statement, the Holders of
Registrable Securities and their counsel) and make such of the representatives
of the Company as shall be reasonably requested by the Placement Agents or their
counsel (and, in the case of a Shelf Registration Statement, the Holders of
Registrable Securities or their counsel) available for discussion of such
document, and shall not at any time file or make any amendment to the
Registration Statement, any Prospectus or any amendment of or supplement to a
Registration Statement or a Prospectus, of which the Placement Agents and their
counsel (and, in the case of a Shelf Registration Statement, the Holders of
Registrable Securities and their counsel) shall not have previously been advised
and furnished a copy or to which the Placement Agents or their counsel (and, in
the case of a Shelf Registration Statement, the Holders or their counsel) shall
object;

                  (k) obtain the CUSIP number assigned to the Outstanding
Securities for all Exchange Securities or Registrable Securities, as the case
may be, not later than the effective date of a Registration Statement;

                  (l) cause the Indenture to be qualified under the Trust
Indenture Act of 1939, as amended (the "TIA"), in connection with the
registration of the Exchange Securities or Registrable Securities, as the case
may be, cooperate with the Trustee and the Holders to effect such changes to the
Indenture as may be required for the Indenture to be so qualified in accordance
with the terms of the TIA and execute, and use its best efforts to cause the
Trustee to execute, all documents as may be required to effect such changes and
all other forms and documents required to be filed with the SEC to enable the
Indenture to be so qualified in a timely manner;

                  (m) in the case of a Shelf Registration, make available for
inspection by a representative of such Holders of the Registrable Securities,
any Underwriter participating in any disposition pursuant to such Shelf
Registration Statement, and attorneys and accountants designated by the Holders,
at reasonable times and in a reasonable manner, all financial and other records,
pertinent documents and properties of the Company, and cause the respective
officers, directors and employees of the Company to supply all information
reasonably requested by any such representative, Underwriter, attorney or
accountant in connection with a Shelf Registration Statement, all in a manner as
is necessary and customary to provide the Holders a due diligence defense;

                  (n) in the case of a Shelf Registration, use its best efforts
to cause all Registrable Securities to be listed on any securities exchange or
any automated quotation system on which similar securities issued by the Company
are then listed if requested by the Majority Holders, to the extent such
Registrable Securities satisfy applicable listing requirements;

                                       9

<PAGE>

                  (o) if reasonably requested by any Holder of Registrable
Securities covered by a Registration Statement, (i) promptly incorporate in a
Prospectus supplement or post-effective amendment such information with
respect to such Holder as such Holder reasonably requests to be included
therein and (ii) make all required filings of such Prospectus supplement or
such post-effective amendment as soon as the Company has received
notification of the matters to be incorporated in such filing; and

                  (p) in the case of a Shelf Registration, enter into such
customary agreements and take all such other actions in connection therewith
(including those requested by the Holders of a majority of the Registrable
Securities being sold) in order to expedite or facilitate the disposition of
such Registrable Securities including, but not limited to, an Underwritten
Offering and in such connection, (i) to the extent possible, make such
representations and warranties to the Holders and any Underwriters of such
Registrable Securities with respect to the business of the Company and its
subsidiaries, the Registration Statement, Prospectus and documents
incorporated by reference or deemed incorporated by reference, if any, in
each case, in form, substance and scope as are customarily made by issuers to
underwriters in underwritten offerings and confirm the same if and when
requested, (ii) obtain opinions of counsel to the Company (which counsel and
opinions, in form, scope and substance, shall be reasonably satisfactory to
the Holders and such Underwriters and their respective counsel) addressed to
each selling Holder and Underwriter of Registrable Securities, covering the
matters customarily covered in opinions requested in underwritten offerings,
(iii) obtain "cold comfort" letters from the independent certified public
accountants of the Company (and, if necessary, any other certified public
accountant of any subsidiary of the Company, or of any business acquired by
the Company for which financial statements and financial data are or are
required to be included in the Registration Statement) addressed to each
selling Holder and Underwriter of Registrable Securities, such letters to be
in customary form and covering matters of the type customarily covered in
"cold comfort" letters in connection with underwritten offerings, and (iv)
deliver such documents and certificates as may be reasonably requested by the
Holders of a majority in principal amount of the Registrable Securities being
sold or the Underwriters, and which are customarily delivered in underwritten
offerings, to evidence the continued validity of the representations and
warranties of the Company made pursuant to clause (i) above and to evidence
compliance with any customary conditions contained in an underwriting
agreement.

                  In the case of a Shelf Registration Statement, the Company
may require each Holder of Registrable Securities to furnish to the Company
such information regarding such Holder and the proposed distribution by such
Holder of such Registrable Securities as the Company may from time to time
reasonably request in writing.

                  In the case of a Shelf Registration Statement, each Holder
of Registrable Securities agrees that, upon receipt of any notice from the
Company of the happening of any event of the kind described in Section
3(e)(v) hereof, such Holder will forthwith discontinue disposition of
Registrable Securities pursuant to a Registration Statement until such
Holder's receipt of the copies of the supplemented or amended Prospectus
contemplated by Section 3(i) hereof, and, if so directed by the Company, such
Holder will deliver to the Company (at its expense) all copies in its
possession, other than permanent file copies then in such Holder's
possession, of the Prospectus covering such Registrable Securities current at
the time of receipt of such notice. If the Company shall give any such notice
to suspend the disposition of

                                       10
<PAGE>

Registrable Securities pursuant to a Registration Statement, the Company
shall extend the period during which the Registration Statement shall be
maintained effective pursuant to this Agreement by the number of days during
the period from and including the date of the giving of such notice to and
including the date when the Holders shall have received copies of the
supplemented or amended Prospectus necessary to resume such dispositions. The
Company may give any such notice only twice during any 365-day period and any
such suspensions may not exceed 30 days for each suspension and there may not
be more than two suspensions in effect during any 365-day period.

                  The Holders of Registrable Securities covered by a Shelf
Registration Statement who desire to do so may sell such Registrable
Securities in an Underwritten Offering. In any such Underwritten Offering,
the investment banker or investment bankers and manager or managers (the
"Underwriters") that will administer the offering will be selected by the
Majority Holders of the Registrable Securities included in such offering and
shall be reasonably acceptable to the Company.

                  4. PARTICIPATION OF BROKER-DEALERS IN EXCHANGE OFFER.

                  (a) The Staff of the SEC has taken the position that any
broker-dealer that receives Exchange Securities for its own account in the
Exchange Offer in exchange for New Securities that were acquired by such
broker-dealer as a result of market-making or other trading activities (a
"Participating Broker-Dealer"), may be deemed to be an "underwriter" within
the meaning of the 1933 Act and must deliver a prospectus meeting the
requirements of the 1933 Act in connection with any resale of such Exchange
Securities.

                  The Company understands that it is the Staff's position
that if the Prospectus contained in the Exchange Offer Registration Statement
includes a plan of distribution containing a statement to the above effect
and the means by which Participating Broker-Dealers may resell the Exchange
Securities, without naming the Participating Broker-Dealers or specifying the
amount of Exchange Securities owned by them, such Prospectus may be delivered
by Participating Broker-Dealers to satisfy their prospectus delivery
obligation under the 1933 Act in connection with resales of Exchange
Securities for their own accounts, so long as the Prospectus otherwise meets
the requirements of the 1933 Act.

                  (b) In light of the above, notwithstanding the other
provisions of this Agreement, the Company agrees that the provisions of this
Agreement as they relate to a Shelf Registration shall also apply to an
Exchange Offer Registration to the extent, and with such reasonable
modifications thereto as may be, reasonably requested by the Placement Agents
or by one or more Participating Broker-Dealers, in each case as provided in
clause (ii) below, in order to expedite or facilitate the disposition of any
Exchange Securities by Participating Broker-Dealers consistent with the
positions of the Staff recited in Section 4(a) above; PROVIDED that:

                  (i) the Company shall not be required to amend or supplement
         the Prospectus contained in the Exchange Offer Registration Statement,
         as would otherwise be contemplated by Section 3(i), for a period
         exceeding 180 days after the last Exchange Date (as such period may be
         extended pursuant to the penultimate paragraph of Section 3 of this
         Agreement) and Participating Broker-Dealers shall not be authorized by
         the

                                       11
<PAGE>

         Company to deliver and shall not deliver such Prospectus after such
         period in connection with the resales contemplated by this Section 4;
         and

                  (ii) the application of the Shelf Registration procedures set
         forth in Section 3 of this Agreement to an Exchange Offer Registration,
         to the extent not required by the positions of the Staff of the SEC or
         the 1933 Act and the rules and regulations thereunder, will be in
         conformity with the reasonable request to the Company by the Placement
         Agents or with the reasonable request in writing to the Company by one
         or more broker-dealers who certify to the Placement Agents and the
         Company in writing that they anticipate that they will be Participating
         Broker-Dealers; and PROVIDED FURTHER that, in connection with such
         application of the Shelf Registration procedures set forth in Section 3
         to an Exchange Offer Registration, the Company shall be obligated (x)
         to deal only with one entity representing the Participating
         Broker-Dealers, which shall be Morgan Stanley & Co. Incorporated unless
         it elects not to act as such representative, (y) to pay the fees and
         expenses of only one counsel representing the Participating
         Broker-Dealers, which shall be counsel to the Placement Agents unless
         such counsel elects not to so act and (z) to cause to be delivered only
         one, if any, "cold comfort" letter with respect to the Prospectus in
         the form existing on the last Exchange Date and with respect to each
         subsequent amendment or supplement, if any, effected during the period
         specified in clause (i) above.

                  (c) The Placement Agents shall have no liability to the
Company or any Holder with respect to any request that it may make pursuant to
Section 4(b) above.

                  5. INDEMNIFICATION AND CONTRIBUTION.

                  (a) The Company and each Subsidiary Guarantor, jointly and
severally, agree to indemnify and hold harmless the Placement Agents, each
Holder and each Person, if any, who controls any Placement Agent or any Holder
within the meaning of either Section 15 of the 1933 Act or Section 20 of the
1934 Act, or is under common control with, or is controlled by, any Placement
Agent or any Holder, from and against all losses, claims, damages and
liabilities (including, without limitation, any legal or other expenses
reasonably incurred by the Placement Agents, any Holder or any such controlling
or affiliated Person in connection with defending or investigating any such
action or claim) caused by any untrue statement or alleged untrue statement of a
material fact contained in any Registration Statement (or any amendment thereto)
pursuant to which Exchange Securities or Registrable Securities were registered
under the 1933 Act, including all documents incorporated therein by reference,
or caused by any omission or alleged omission to state therein a material fact
required to be stated therein or necessary to make the statements therein not
misleading, or caused by any untrue statement or alleged untrue statement of a
material fact contained in any Prospectus (as amended or supplemented if the
Company shall have furnished any amendments or supplements thereto), or caused
by any omission or alleged omission to state therein a material fact necessary
to make the statements therein in light of the circumstances under which they
were made not misleading, except insofar as such losses, claims, damages or
liabilities are caused by any such untrue statement or omission or alleged
untrue statement or omission based upon information relating to the Placement
Agents or any Holder furnished to the Company in writing through Morgan Stanley
& Co. Incorporated or any selling Holder expressly for use therein. In
connection with any Underwritten Offering

                                       12
<PAGE>

permitted by Section 3, the Company will also indemnify the Underwriters, if
any, selling brokers, dealers and similar securities industry professionals
participating in the distribution, their officers and directors and each
Person who controls such Persons (within the meaning of the 1933 Act and the
1934 Act) to the same extent as provided above with respect to the
indemnification of the Holders, if requested in connection with any
Registration Statement.

                  (b) Each Holder agrees, severally and not jointly, to
indemnify and hold harmless the Company, the Subsidiary Guarantors, the
Placement Agents and the other selling Holders, and each of their respective
directors, officers of the Company or the Subsidiary Guarantors who sign the
Registration Statement and each Person, if any, who controls the Company, the
Subsidiary Guarantors, any Placement Agent and any other selling Holder within
the meaning of either Section 15 of the 1933 Act or Section 20 of the 1934 Act
to the same extent as the foregoing indemnity from the Company to the Placement
Agents and the Holders, but only with reference to information relating to such
Holder furnished to the Company in writing by such Holder expressly for use in
any Registration Statement (or any amendment thereto) or any Prospectus (or any
amendment or supplement thereto).

                  (c) In case any proceeding (including any governmental
investigation) shall be instituted involving any Person in respect of which
indemnity may be sought pursuant to either paragraph (a) or paragraph (b) above,
such Person (the "indemnified party") shall promptly notify the Person against
whom such indemnity may be sought (the "indemnifying party") in writing and the
indemnifying party, upon request of the indemnified party, shall retain counsel
reasonably satisfactory to the indemnified party to represent the indemnified
party and any others the indemnifying party may designate in such proceeding and
shall pay the fees and disbursements of such counsel related to such proceeding.
In any such proceeding, any indemnified party shall have the right to retain its
own counsel, but the fees and expenses of such counsel shall be at the expense
of such indemnified party unless (i) the indemnifying party and the indemnified
party shall have mutually agreed to the retention of such counsel or (ii) the
named parties to any such proceeding (including any impleaded parties) include
both the indemnifying party and the indemnified party and representation of both
parties by the same counsel would be inappropriate due to actual or potential
differing interests between them. It is understood that the indemnifying party
shall not, in connection with any proceeding or related proceedings in the same
jurisdiction, be liable for (a) the fees and expenses of more than one separate
firm (in addition to any local counsel) for the Placement Agents and all
Persons, if any, who control any Placement Agent within the meaning of either
Section 15 of the 1933 Act or Section 20 of the 1934 Act, (b) the fees and
expenses of more than one separate firm (in addition to any local counsel) for
the Company, its directors, its officers who sign the Registration Statement and
each Person, if any, who controls the Company within the meaning of either such
Section and (c) the fees and expenses of more than one separate firm (in
addition to any local counsel) for all Holders and all Persons, if any, who
control any Holders within the meaning of either such Section, and that all such
fees and expenses shall be reimbursed as they are incurred. In such case
involving the Placement Agents and Persons who control the Placement Agents,
such firm shall be designated in writing by Morgan Stanley & Co. Incorporated.
In such case involving the Holders and such Persons who control Holders, such
firm shall be designated in writing by the Majority Holders. In all other cases,
such firm shall be designated by the Company. The indemnifying party shall not
be liable for any settlement of any proceeding effected without its written
consent but, if settled with such consent or if there be a final

                                       13
<PAGE>

judgment for the plaintiff, the indemnifying party agrees to indemnify
the indemnified party from and against any loss or liability by reason of
such settlement or judgment. Notwithstanding the foregoing sentence, if at
any time an indemnified party shall have requested an indemnifying party to
reimburse the indemnified party for fees and expenses of counsel as
contemplated by the second and third sentences of this paragraph, the
indemnifying party agrees that it shall be liable for any settlement of any
proceeding effected without its written consent if (i) such settlement is
entered into more than 60 days after receipt by such indemnifying party of
the aforesaid request and (ii) such indemnifying party shall not have
reimbursed the indemnified party for such fees and expenses of counsel in
accordance with such request prior to the date of such settlement. No
indemnifying party shall, without the prior written consent of the
indemnified party, effect any settlement of any pending or threatened
proceeding in respect of which such indemnified party is or could have been a
party and indemnity could have been sought hereunder by such indemnified
party, unless such settlement includes an unconditional release of such
indemnified party from all liability on claims that are the subject matter of
such proceeding.

                  (d) If the indemnification provided for in paragraph (a) or
paragraph (b) of this Section 5 is unavailable to an indemnified party or
insufficient in respect of any losses, claims, damages or liabilities, then
each indemnifying party under such paragraph, in lieu of indemnifying such
indemnified party thereunder, shall contribute to the amount paid or payable
by such indemnified party as a result of such losses, claims, damages or
liabilities in such proportion as is appropriate to reflect the relative
fault of the indemnifying party or parties on the one hand and of the
indemnified party or parties on the other hand in connection with the
statements or omissions that resulted in such losses, claims, damages or
liabilities, as well as any other relevant equitable considerations. The
relative fault of the Company and the Holders shall be determined by
reference to, among other things, whether the untrue or alleged untrue
statement of a material fact or the omission or alleged omission to state a
material fact relates to information supplied by the Company or by the
Holders and the parties' relative intent, knowledge, access to information
and opportunity to correct or prevent such statement or omission. The
Holders' respective obligations to contribute pursuant to this Section 5(d)
are several in proportion to the respective principal amount of Registrable
Securities of such Holder that were registered pursuant to a Registration
Statement.

                  (e) The Company, the Subsidiary Guarantors and each Holder
agree that it would not be just or equitable if contribution pursuant to this
Section 5 were determined by PRO RATA allocation or by any other method of
allocation that does not take account of the equitable considerations
referred to in paragraph (d) above. The amount paid or payable by an
indemnified party as a result of the losses, claims, damages and liabilities
referred to in paragraph (d) above shall be deemed to include, subject to the
limitations set forth above, any legal or other expenses reasonably incurred
by such indemnified party in connection with investigating or defending any
such action or claim. Notwithstanding the provisions of this Section 5, no
Holder shall be required to indemnify or contribute any amount in excess of
the amount by which the total price at which Registrable Securities were sold
by such Holder exceeds the amount of any damages that such Holder has
otherwise been required to pay by reason of such untrue or alleged untrue
statement or omission or alleged omission. No Person guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the 1933 Act) shall
be entitled to contribution from any Person who was not guilty of such
fraudulent misrepresentation. The remedies provided for in

                                       14
<PAGE>

this Section 5 are not exclusive and shall not limit any rights or remedies
which may otherwise be available to any indemnified party at law or in equity.

                  The indemnity and contribution provisions contained in this
Section 5 shall remain operative and in full force and effect regardless of
(i) any termination of this Agreement, (ii) any investigation made by or on
behalf of the Placement Agents, any Holder or any Person controlling any
Placement Agent or any Holder, or by or on behalf of the Company, its
officers or directors or any Person controlling the Company, (iii) acceptance
of any of the Exchange Securities and (iv) any sale of Registrable Securities
pursuant to a Shelf Registration Statement.

                  6. MISCELLANEOUS.

                  (a) NO INCONSISTENT AGREEMENTS. The Company has not entered
into, and on or after the date of this Agreement will not enter into, any
agreement which is inconsistent with the rights granted to the Holders of
Registrable Securities in this Agreement or otherwise conflicts with the
provisions hereof. The rights granted to the Holders hereunder do not in any
way conflict with and are not inconsistent with the rights granted to the
holders of the Company's other issued and outstanding securities under any
such agreements.

                  (b) AMENDMENTS AND WAIVERS. The provisions of this
Agreement, including the provisions of this sentence, may not be amended,
modified or supplemented, and waivers or consents to departures from the
provisions hereof may not be given unless the Company has obtained the
written consent of Holders of at least a majority in aggregate principal
amount of the outstanding Registrable Securities affected by such amendment,
modification, supplement, waiver or consent; PROVIDED, HOWEVER, that no
amendment, modification, supplement, waiver or consent to any departure from
the provisions of Section 5 hereof shall be effective as against any Holder
of Registrable Securities unless consented to in writing by such Holder.

                  (c) NOTICES. All notices and other communications provided
for or permitted hereunder shall be made in writing by hand-delivery,
registered first-class mail, telex, telecopier, or any courier guaranteeing
overnight delivery (i) if to a Holder, at the most current address given by
such Holder to the Company by means of a notice given in accordance with the
provisions of this Section 6(c), which address initially is, with respect to
the Placement Agents, the address set forth in the Placement Agreement; and
(ii) if to the Company, initially at the Company's address set forth in the
Placement Agreement and thereafter at such other address, notice of which is
given in accordance with the provisions of this Section 6(c).

                  All such notices and communications shall be deemed to have
been duly given: at the time delivered by hand, if personally delivered; five
business days after being deposited in the mail, postage prepaid, if mailed;
when answered back, if telexed; when receipt is acknowledged, if telecopied;
and on the next business day if timely delivered to an air courier
guaranteeing overnight delivery.

                  Copies of all such notices, demands, or other
communications shall be concurrently delivered by the Person giving the same
to the Trustee, at the address specified in the Indenture.

                                       15
<PAGE>

                  (d) SUCCESSORS AND ASSIGNS. This Agreement shall inure to
the benefit of and be binding upon the successors, assigns and transferees of
each of the parties, including, without limitation and without the need for
an express assignment, subsequent Holders; PROVIDED that nothing herein shall
be deemed to permit any assignment, transfer or other disposition of
Registrable Securities in violation of the terms of the Placement Agreement.
If any transferee of any Holder shall acquire Registrable Securities, in any
manner, whether by operation of law or otherwise, such Registrable Securities
shall be held subject to all of the terms of this Agreement, and by taking
and holding such Registrable Securities such Person shall be conclusively
deemed to have agreed to be bound by and to perform all of the terms and
provisions of this Agreement and such Person shall be entitled to receive the
benefits hereof. The Placement Agents (in their capacity as Placement Agents)
shall have no liability or obligation to the Company with respect to any
failure by a Holder to comply with, or any breach by any Holder of, any of
the obligations of such Holder under this Agreement.

                  (e) PURCHASES AND SALES OF NEW SECURITIES. The Company
shall not, and shall use its best efforts to cause its affiliates (as defined
in Rule 405 under the 1933 Act) not to, purchase and then resell or otherwise
transfer any New Securities.

                  (f) THIRD PARTY BENEFICIARY. The Holders shall be third
party beneficiaries to the agreements made hereunder between the Company, on
the one hand, and the Placement Agents, on the other hand, and shall have the
right to enforce such agreements directly to the extent it deems such
enforcement necessary or advisable to protect its rights or the rights of
Holders hereunder.

                  (g) COUNTERPARTS. This Agreement may be executed in any
number of counterparts and by the parties hereto in separate counterparts,
each of which when so executed shall be deemed to be an original and all of
which taken together shall constitute one and the same agreement.

                  (h) HEADINGS. The headings in this Agreement are for
convenience of reference only and shall not limit or otherwise affect the
meaning hereof.

                  (i) GOVERNING LAW. This Agreement shall be governed by the
laws of the State of New York.

                  (j) SEVERABILITY. In the event that any one or more of the
provisions contained herein, or the application thereof in any circumstance,
is held invalid, illegal or unenforceable, the validity, legality and
enforceability of any such provision in every other respect and of the
remaining provisions contained herein shall not be affected or impaired
thereby.

                            [Signature Pages Follow]

                                       16
<PAGE>

                  IN WITNESS WHEREOF, the parties have executed this Agreement
as of the date first written above.

                         ARGOSY GAMING COMPANY

                         By:            /s/ Dale R. Black
                            -----------------------------------------
                            Dale R. Black
                            Senior Vice President and
                            Chief Financial Officer

                         ALTON GAMING COMPANY

                         By:            /s/ Dale R. Black
                            -----------------------------------------
                            Dale R. Black
                            Treasurer

                         ARGOSY OF IOWA, INC.

                         By:            /s/ Dale R. Black
                            -----------------------------------------
                            Dale R. Black
                            Treasurer

                         ARGOSY OF LOUISIANA, INC.

                         By:            /s/ Dale R. Black
                            -----------------------------------------
                            Dale R. Black
                            Treasurer

                         CATFISH QUEEN PARTNERSHIP IN COMMENDAM

                         By:  ARGOSY OF LOUISIANA, INC.,
                              its General Partner

                              By:       /s/ Dale R. Black
                                 ------------------------------------
                                 Dale R. Black
                                 Treasurer

                                     S-1
<PAGE>

                         CENTROPLEX CENTRE CONVENTION HOTEL, L.L.C.

                         By:  ARGOSY GAMING COMPANY,
                                its Sole Member

                              By:       /s/ Dale R. Black
                                 ------------------------------------
                                 Dale R. Black
                                 Senior Vice President and
                                 Chief Financial Officer

                         THE INDIANA GAMING COMPANY

                         By:            /s/ Dale R. Black
                            -----------------------------------------
                            Dale R. Black
                            Treasurer

                         IOWA GAMING COMPANY

                         By:            /s/ Dale R. Black
                            -----------------------------------------
                            Dale R. Black
                            Treasurer

                         JAZZ ENTERPRISES, INC.

                         By:            /s/ Dale R. Black
                            -----------------------------------------
                            Dale R. Black
                            Treasurer

                         THE MISSOURI GAMING COMPANY

                         By:            /s/ Dale R. Black
                            -----------------------------------------
                            Dale R. Black
                            Treasurer

                                     S-2
<PAGE>

Confirmed and accepted as of the date first above written:

Morgan Stanley & Co. Incorporated
Banc of America Securities LLC
Wells Fargo Brokerage Services, LLC

By:  MORGAN STANLEY & CO. INCORPORATED

      By:      /s/ Bryan W. Adrzejewski
         -----------------------------------
         Bryan W. Andrzejewski
         Principal

                                     S-3

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