Document:

exv4w2b

 

Exhibit 4(ii)(B)

QIMONDA FINANCE LLC,

as Issuer

QIMONDA AG, as Guarantor

and

DEUTSCHE BANK TRUST COMPANY AMERICAS,

as Trustee

 

INDENTURE

Dated as of February 13, 2008

 

DEBT SECURITIES

 

CROSS REFERENCE TABLE

Reconciliation and tie between Trust Indenture Act of 1939 and Indenture

	 	 	 	 	 
	Trust Indenture Act Section	 	Indenture Section
	§ 310
	 	(a)(1)	 	607(a)
	 
	 	(a)(2)	 	607(a)
	 
	 	(b)	 	604, 608(d)(1)
	§ 311
	 	 	 	101(a)(2), 604
	§ 312
	 	(a)	 	701
	 
	 	(c)	 	701
	§ 313
	 	 	 	101
	§ 313
	 	(a)	 	702
	 
	 	(c)	 	601, 702
	§ 314
	 	(a)	 	703
	 
	 	(a)(4)	 	1005
	 
	 	(c)(1)	 	102
	 
	 	(c)(2)	 	102
	 
	 	(e)	 	102
	§ 315
	 	(a)	 	303, 602
	 
	 	(b)	 	303, 601, 602
	 
	 	(c)	 	303, 602
	 
	 	(d)	 	303, 602
	 
	 	(e)	 	608(d)
	§ 316
	 	(a) (last sentence)	 	                        101
	 
	 	(a)(1)(A)	 	502, 512
	 
	 	(a)(1)(B)	 	513
	 
	 	(b)	 	508
	 
	 	(c)	 	104(e)
	§ 317
	 	(a)(1)	 	503
	 
	 	(a)(2)	 	504
	§ 318
	 	(a)	 	111
	 
	 	(c)	 	111

NOTE: This cross-reference table shall not, for any purpose, be
deemed to be a part of the Indenture.

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page
	ARTICLE ONE
 
	 	 	 	 
	 
	
DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION 
	 	 	 	 
	 
	SECTION 101. Definitions

	 	 	1	 
	SECTION 102. Compliance Certificates and Opinions

	 	 	9	 
	SECTION 103. Form of Documents Delivered to Trustee

	 	 	10	 
	SECTION 104. Acts of Holders

	 	 	10	 
	SECTION 105. Notices, etc., to Trustee, Issuer and Guarantor

	 	 	12	 
	SECTION 106. Notice to Holders; Waiver

	 	 	12	 
	SECTION 107. Effect of Headings and Table of Contents

	 	 	12	 
	SECTION 108. Successors and Assigns

	 	 	13	 
	SECTION 109. Separability Clause

	 	 	13	 
	SECTION 110. Benefits of Indenture

	 	 	13	 
	SECTION 111. Governing Law and Jurisdiction

	 	 	13	 
	SECTION 112. Legal Holidays

	 	 	13	 
	 
	 	 	 	 
	ARTICLE TWO
	 	 	 	 
	 
	 	 	 	 
	SECURITIES FORMS
	 	 	 	 
	 
	 	 	 	 
	SECTION 201. Forms of Securities

	 	 	14	 
	SECTION 202. Form of Trustee’s Certificate of Authentication

	 	 	14	 
	SECTION 203. Securities Issuable in Global Form

	 	 	15	 
	 
	 	 	 	 
	ARTICLE THREE
	 	 	 	 
	 
	 	 	 	 
	THE SECURITIES
	 	 	 	 
	 
	 	 	 	 
	SECTION 301. Amount Unlimited; Issuable in Series

	 	 	18	 
	SECTION 302. Denominations

	 	 	21	 
	SECTION 303. Execution, Authentication, Delivery and Dating

	 	 	21	 
	SECTION 304. Temporary Securities

	 	 	23	 
	SECTION 305. Registration, Registration of Transfer and Exchange

	 	 	25	 
	SECTION 306. Mutilated, Destroyed, Lost and Stolen Securities

	 	 	27	 
	SECTION 307. Payment of Interest; Interest Rights Preserved; Optional Interest Reset

	 	 	27	 
	
SECTION 308. Optional Extension of Maturity

	 	 	30	 
	SECTION 309. Persons Deemed Owners

	 	 	31	 
	SECTION 310. Cancellation

	 	 	31	 
	SECTION 311. Computation of Interest

	 	 	31	 
	SECTION 312. Currency and Manner of Payments in Respect of Securities

	 	 	32	 
	SECTION 313. Appointment and Resignation of Successor Exchange Rate Agent

	 	 	35	 
	SECTION 314. CUSIP Numbers

	 	 	36	 

 

	 	 	 	 	 
	 	 	Page
	ARTICLE FOUR
	 	 	 	 
	 
	SATISFACTION AND DISCHARGE
	 	 	 	 
	 
	SECTION 401. Satisfaction and Discharge of Indenture

	 	 	36	 
	SECTION 402. Application of Trust Funds

	 	 	37	 
	 
	 	 	 	 
	ARTICLE FIVE
	 	 	 	 
	 
	 	 	 	 
	REMEDIES
	 	 	 	 
	 
	SECTION 501. Events of Default

	 	 	37	 
	SECTION 502. Acceleration of Maturity; Rescission and Annulment

	 	 	39	 
	SECTION 503. Collection of Indebtedness and Suits for Enforcement by Trustee

	 	 	40	 
	SECTION 504. Trustee May File Proofs of Claim

	 	 	40	 
	SECTION 505. Trustee May Enforce Claims Without Possession of Securities

	 	 	41	 
	SECTION 506. Application of Money Collected

	 	 	41	 
	SECTION 507. Limitation on Suits

	 	 	42	 
	SECTION 508. Unconditional Right of Holders to Receive Principal,
Premium and Interest

	 	 	42	 
	SECTION 509. Restoration of Rights and Remedies

	 	 	42	 
	SECTION 510. Rights and Remedies Cumulative

	 	 	42	 
	SECTION 511. Delay or Omission Not Waiver

	 	 	43	 
	SECTION 512. Control by Holders of Securities

	 	 	43	 
	SECTION 513. Waiver of Past Defaults

	 	 	43	 
	SECTION 514. Waiver of Stay or Extension Laws

	 	 	44	 
	 
	 	 	 	 
	ARTICLE SIX
	 	 	 	 
	 
	 	 	 	 
	THE TRUSTEE
	 	 	 	 
	 
	 	 	 	 
	SECTION 601. Notice of Defaults

	 	 	44	 
	SECTION 602. Certain Rights of Trustee

	 	 	44	 
	SECTION 603. Not Responsible for Recitals or Issuance of Securities

	 	 	45	 
	SECTION 604. May Hold Securities

	 	 	46	 
	SECTION 605. Money Held in Trust

	 	 	46	 
	SECTION 606. Compensation and Reimbursement

	 	 	46	 
	SECTION 607. Corporate Trustee Required; Eligibility

	 	 	47	 
	SECTION 608. Resignation and Removal; Appointment of Successor

	 	 	47	 
	SECTION 609. Acceptance of Appointment by Successor

	 	 	49	 
	SECTION 610. Merger, Conversion, Consolidation or Succession to Business

	 	 	50	 
	SECTION 611. Appointment of Authenticating Agent

	 	 	50	 

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	 	 	Page
	ARTICLE SEVEN 
	 	 	 	 
	 
	 	 	 	 
	HOLDERS’ LISTS AND REPORTS BY TRUSTEE, ISSUER AND GUARANTOR
	 	 	 	 
	 
	SECTION 701. Disclosure of Names and Addresses of Holders

	 	 	52	 
	SECTION 702. Reports by Trustee

	 	 	52	 
	SECTION 703. Reports by Issuer and the Guarantor

	 	 	52	 
	SECTION 704. Calculation of Original Issue Discount

	 	 	53	 
	 
	 	 	 	 
	ARTICLE EIGHT
	 	 	 	 
	 
	 	 	 	 
	CONSOLIDATION, MERGER, CONVEYANCE OR TRANSFER
	 	 	 	 
	 
	 	 	 	 
	SECTION 801. Issuer and Guarantor May Consolidate, Etc., Only on Certain Terms

	 	 	53	 
	SECTION 802. Successor Person Substituted

	 	 	53	 
	 
	 	 	 	 
	ARTICLE NINE
	 	 	 	 
	 
	 	 	 	 
	SUPPLEMENTAL INDENTURES
	 	 	 	 
	 
	 	 	 	 
	SECTION 901. Supplemental Indentures Without Consent of Holders

	 	 	54	 
	SECTION 902. Supplemental Indentures with Consent of Holders

	 	 	55	 
	SECTION 903. Execution of Supplemental Indentures

	 	 	56	 
	SECTION 904. Effect of Supplemental Indentures

	 	 	56	 
	SECTION 905. Conformity with Trust Indenture Act

	 	 	57	 
	SECTION 906. Reference in Securities to Supplemental Indentures

	 	 	57	 
	 
	 	 	 	 
	ARTICLE TEN
	 	 	 	 
	 
	 	 	 	 
	COVENANTS
	 	 	 	 
	 
	SECTION 1001. Payment of Principal, Premium and Interest

	 	 	57	 
	SECTION 1002. Maintenance of Office or Agency

	 	 	57	 
	SECTION 1003. Money for Securities Payments to Be Held in Trust

	 	 	58	 
	SECTION 1004. Additional Amounts

	 	 	59	 
	SECTION 1005. Statement as to Compliance

	 	 	60	 
	SECTION 1006. Waiver of Certain Covenants

	 	 	60	 
	SECTION 1007. Corporate Existence

	 	 	60	 
	SECTION 1008. Insurance

	 	 	60	 
	 
	 	 	 	 
	ARTICLE ELEVEN
	 	 	 	 
	 
	 	 	 	 
	REDEMPTION OF SECURITIES
	 	 	 	 
	 
	SECTION 1101. Applicability of Article

	 	 	61	 
	SECTION 1102. Election to Redeem; Notice to Trustee

	 	 	61	 
	SECTION 1103. Selection by Trustee of Securities to Be Redeemed

	 	 	61	 
	SECTION 1104. Notice of Redemption

	 	 	61	 

iii

 

	 	 	 	 	 
	 	 	Page
	SECTION 1105. Deposit of Redemption Price

	 	 	62	 
	SECTION 1106. Securities Payable on Redemption Date

	 	 	63	 
	SECTION 1107. Securities Redeemed in Part

	 	 	63	 
	 
	 	 	 	 
	ARTICLE TWELVE
	 	 	 	 
	 
	 	 	 	 
	SINKING FUNDS
	 	 	 	 
	 
	SECTION 1201. Applicability of Article

	 	 	64	 
	SECTION 1202. Satisfaction of Sinking Fund Payments with Securities

	 	 	64	 
	SECTION 1203. Redemption of Securities for Sinking Fund

	 	 	64	 
	 
	 	 	 	 
	ARTICLE THIRTEEN
	 	 	 	 
	 
	 	 	 	 
	REPAYMENT AT THE OPTION OF HOLDERS
	 	 	 	 
	 
	 	 	 	 
	SECTION 1301. Applicability of Article

	 	 	65	 
	SECTION 1302. Repayment of Securities

	 	 	65	 
	SECTION 1303. Exercise of Option

	 	 	65	 
	SECTION 1304. When Securities Presented for Repayment Become Due and Payable
	 	 	66	 
	SECTION 1305. Securities Repaid in Part

	 	 	66	 
	 
	 	 	 	 
	ARTICLE FOURTEEN
	 	 	 	 
	 
	 	 	 	 
	LEGAL DEFEASANCE AND COVENANT DEFEASANCE
	 	 	 	 
	 
	 	 	 	 
	SECTION 1401. Applicability of Article; Issuer’s Option to Effect Legal Defeasance or
Covenant Defeasance

	 	 	66	 
	SECTION 1402. Defeasance and Discharge

	 	 	66	 
	SECTION 1403. Covenant Defeasance

	 	 	67	 
	SECTION 1404. Conditions to Legal Defeasance or Covenant Defeasance

	 	 	67	 
	SECTION 1405. Deposited Money and Government Obligations to Be Held in Trust; Other
Miscellaneous Provisions

	 	 	69	 
	SECTION 1406. Reinstatement

	 	 	70	 
	 
	 	 	 	 
	ARTICLE FIFTEEN
	 	 	 	 
	 
	 	 	 	 
	[RESERVED]
	 	 	 	 
	 
	 	 	 	 
	ARTICLE SIXTEEN
	 	 	 	 
	 
	 	 	 	 
	GUARANTEE
	 	 	 	 
	 
	 	 	 	 
	SECTION 1601. Guarantee

	 	 	70	 
	SECTION 1602. Severability

	 	 	71	 
	SECTION 1603. Limitation of Guarantor’s Liability

	 	 	72	 
	SECTION 1604. Subrogation

	 	 	72	 

iv

 

	 	 	 	 	 
	 	 	Page
	SECTION 1605. Reinstatement

	 	 	72	 
	SECTION 1606. Benefits Acknowledged

	 	 	72	 
	SECTION 1607. Authentication Required

	 	 	72	 
	SECTION 1608. Release of the Guarantor

	 	 	72	 

ACKNOWLEDGMENTS

EXHIBIT A — FORMS OF CERTIFICATION

v

 

     INDENTURE, dated as of February 13, 2008, between Qimonda Finance LLC, a Delaware limited
liability company (the “Issuer”), having its
principal office at 3000 CentreGreen Way, Cary, North Carolina,
United States of America, Qimonda AG, a
German stock corporation (the “Guarantor”), having
its principal office at Gustav-Heinemann-Ring 212, 81739 Munich,
Federal Republic of Germany, and
Deutsche Bank Trust Company Americas, a New York banking corporation (the “Trustee”).

RECITALS OF THE ISSUER AND THE GUARANTOR

     WHEREAS, the Issuer has duly authorized the execution and delivery of this Indenture to
provide for the issuance from time to time of its debt securities (the “Securities”),
issuable as provided in this Indenture, and all things necessary to make this Indenture a valid
agreement of the Issuer, in accordance with its terms, have been done;

     WHEREAS, the Guarantor has duly authorized the execution and delivery of this Indenture to
provide the Guarantees by it with respect to the Securities as set forth in this Indenture; and

     WHEREAS, this Indenture will be subject to, and governed by, the provisions of the Trust
Indenture Act of 1939, as amended, that are required to be part of this Indenture and shall, to the
extent applicable, be governed by such provisions.

     NOW, THEREFORE, THIS INDENTURE WITNESSETH:

     Each party agrees as follows for the benefit of the other party and for the equal and ratable
benefit of the Holders of the Securities:

ARTICLE ONE

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

     SECTION 101. Definitions.

For all purposes of this Indenture, except as otherwise expressly

provided or unless the context otherwise requires:

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

     (2) all other terms used herein which are defined in the Trust Indenture Act, either
directly or by reference therein, have the meanings assigned to them therein, and the terms
“cash transaction” and “self-liquidating paper”, as used in TIA Section 311, shall have the
meanings assigned to them in the rules of the Commission adopted under the Trust Indenture
Act;

     (3) all accounting terms not otherwise defined herein have the meanings assigned to
them in accordance with generally accepted accounting principles;

      (4) the words “herein”, “hereof” and “hereunder” and other words of similar import
refer to this Indenture as a whole and not to any particular Article, Section or other
subdivision; and

 

 

     (5) certain terms, used principally in Article Three, Article Five, Article Six and
Article Ten, are defined in those Articles.

     “Act”, when used with respect to any Holder, has the meaning specified in Section 104.

     “Additional Amounts” means any additional amounts which are required by a Security or
Guarantee or by or pursuant to a Board Resolution, under circumstances specified therein, to be
paid by the Issuer or the Guarantor in respect of certain taxes imposed on certain Holders and
which are owing to such Holders.

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

     “Agent Members” has the meaning specified in Section 203(b).

     “Authenticating Agent” means any authenticating agent appointed by the Trustee
pursuant to Section 611.

     “Authorized Newspaper” means a newspaper, in the English language or in an official
language of the country of publication, customarily published on each Business Day, whether or not
such newspaper is also published on Saturdays, Sundays or holidays, and of general circulation in
each place in connection with which the term is used or in the financial community of each such
place. Where successive publications are required to be made in Authorized Newspapers, the
successive publications may be made in the same or in different newspapers in the same city meeting
the foregoing requirements, on any Business Day.

     “Authorized Officer” means a member of the Management Board of the Issuer or the
Guarantor, or another person duly authorized to bind either the Issuer or the Guarantor in
accordance with applicable law.

     “Bankruptcy Law” has the meaning specified in Section 501.

     “Board Resolution” means a copy of a resolution that is delivered to the Trustee,
certified by an Authorized Officer (i) to have been duly adopted by the Management Board or by (a)
any subcommittee thereof that has, or (b) any one or more Authorized Officers who have, been
delegated the authority of the Management Board to approve the terms of the relevant Securities or
the Guarantees, and (ii) to be in full force and effect on the date of such certification.

     “Business Day” means, when used with respect to any Place of Payment or any other
particular location referred to in this Indenture or in the Securities, unless otherwise specified
with respect to any Securities pursuant to Section 301, each Monday, Tuesday,

2

 

Wednesday, Thursday
and Friday which is not a day on which banking institutions in that Place of Payment or particular
location are authorized or obligated by law or executive order to close.

     “Capital Stock” means, with respect to any corporation, any and all shares, interests,
rights to purchase, warrants, options, participations or other equivalents of or interests in
(however designated) stock issued by that corporation.

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

     “Commission” means the U.S. Securities and Exchange Commission.

     “Conversion Date” has the meaning specified in Section 312(d).

     “Conversion Event” means the cessation of use of a Foreign Currency both by the
government of one or more countries or by any recognized union, association or confederation of
governments that issued such currency and for the settlement of transactions by a central bank or
other public institutions of or within the international banking community.

     “Corporate Trust Office” means the principal office of the Trustee at which at any
particular time its corporate trust business shall be administered, which office at the date hereof
is located at 60 Wall Street, New York, NY, 10005, M5NYC 60-2710, Attention: Trust and Securities
Services (provided that with respect to the payment of interest of the Securities, the
designated office of the Trustee shall be) or such other address as the Trustee may designate from
time to time by notice to the Holders, the Issuer or the Guarantor, or the principal corporate
trust office of any successor Trustee (or such other address as a successor Trustee may designate
from time to time by notice to the Holders, the Issuer or the Guarantor).

     “corporation” includes corporations, associations, companies and business trusts.

     “Currency” means any currency or currencies, composite currency or currency unit or
currency units, including, without limitation, the Euro, issued by the government of one or more
countries or by any reorganized confederation or association of such governments.

     “Custodian” has the meaning specified in Section 501.

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

     “Defaulted Interest” has the meaning specified in Section 307(a).

     “Depositary” means, the clearing agency registered under the Securities Exchange Act
of 1934 that is designated to act as the depositary with respect to any Global Securities. Unless
otherwise provided in Section 301 with respect to any series of Securities, the Depository Trust
Company shall be the initial Depositary for any series of Securities, until a successor shall
have been appointed and become such pursuant to the applicable provisions of this Indenture,
and thereafter, “Depositary” shall mean or include such successor.

3

 

     “Dollar” or “$” means a dollar or other equivalent unit in such coin or
currency of the United States as at the time shall be legal tender for the payment of public and
private debts.

     “Election Date” has the meaning specified in Section 312(h).

     “Euroclear” means Euroclear Bank S.A./N.V., as operator of the Euroclear System, and
any successor thereto.

     “Event of Default” has the meaning specified in Article Five.

     “Exchange Rate Agent” means, with respect to Securities of any series, unless
otherwise specified with respect to any Securities pursuant to Section 301, a New York clearing
house bank designated pursuant to Section 301 or Section 313.

     “Exchange Rate Officer’s Certificate” means a certificate setting forth (i) the
applicable Market Exchange Rate or the applicable bid quotation and (ii) the Dollar or Foreign
Currency amounts of principal (and premium, if any) and interest, if any (on an aggregate basis and
on the basis of a Security having the lowest denomination principal amount determined in accordance
with Section 302 in the relevant currency or currency unit), payable with respect to a Security of
any series on the basis of such Market Exchange Rate or the applicable bid quotation signed by any
Authorized Officer of the Issuer.

     “Foreign Currency” means any Currency, including, without limitation, the Euro, issued
by the government of one or more countries other than the United States or by any recognized union,
confederation or association of such governments.

     “Global Security” has the meaning specified in Section 203(b).

     “Government Obligations” means securities which are (i) direct obligations of the
United States or the government which issued the Foreign Currency in which the Securities of a
particular series are payable, for the payment of which its full faith and credit is pledged, or
(ii) obligations of a Person controlled or supervised by and acting as an agency or instrumentality
of the United States or such government which issued the Foreign Currency in which the Securities
of such series are payable, the payment of which is unconditionally guaranteed as a full faith and
credit obligation by the United States or such other government, which, in either case, are not
callable or redeemable at the option of the issuer thereof, and shall also include a depository
receipt issued by a bank or trust company as custodian with respect to any such Government
Obligation or a specific payment of interest on or principal of any such Government Obligation held
by such custodian for the account of the holder of a depository receipt; provided that
(except as required by law) such custodian is not authorized to make any deduction from the amount
payable to the holder of such depository receipt from any amount received by the custodian in
respect of the Government Obligation or the specific payment of interest on or principal of the
Government Obligation evidenced by such depository receipt.

     “Guarantees” means any Guarantees of the Guarantor endorsed on Securities
authenticated and delivered pursuant to this Indenture.

4

 

     “Guarantor” means Qimonda AG, a stock corporation duly organized and existing under
the laws of the Federal Republic of Germany and entered in the commercial register of the local
court of Munich under registration number HRB 152545; and, subject to the provisions of Article
Ten, shall also include its successors and assigns.

     “Guarantor Request” and “Guarantor Order” means a written request or order
signed in the name of the Guarantor by any two Authorized Officers.

     “Holder” means the Person in whose name a Security is registered in the Security
Register.

     “Indenture” means this instrument as originally executed or as it may from time to
time be supplemented or amended by one or more indentures supplemental hereto entered into pursuant
to the applicable provisions hereof, and shall include the terms of particular series of
Securities, including any Guarantees established as contemplated by Section 301 and the provisions
of the Trust Indenture Act that are deemed to be a part hereof.

     “Indexed Security” means a Security as to which all or certain interest payments
and/or the principal amount payable at Maturity are determined by reference to prices, changes in
prices, or differences between prices, of securities, Currencies, intangibles, goods, articles or
commodities or by such other objective price, economic or other measures as are specified pursuant
to Section 301 hereof.

     “interest” means, when used with respect to an Original Issue Discount Security which
by its terms bears interest only after Maturity, interest payable after Maturity, and, when used
with respect to a Security which provides for the payment of Additional Amounts pursuant to Section
1004, includes such Additional Amounts.

     “Interest Payment Date” means, when used with respect to any Security, the Stated
Maturity of an installment of interest on such Security.

     “Issuer” means the Person named as the “Issuer” in the first paragraph of this
Indenture until a successor replaces it pursuant to the applicable provisions of this Indenture
and, thereafter, “Issuer” shall mean such successor or successors. The foregoing sentence shall
likewise apply to any subsequent such successor or successors.

     “Issuer Request” and “Issuer Order” means a written request or order signed in
the name of the Issuer by any two Authorized Officers.

     “Management Board” means the Management Board (Vorstand) of the Guarantor or the
Management Board of the Issuer, as the case may be, or any committee thereof duly authorized to act
hereunder.

     “Market Exchange Rate” means, unless otherwise specified with respect to any
Securities pursuant to Section 301, (i) for any conversion involving a Currency unit on the one hand and Dollars or any Foreign Currency on the other, the exchange rate between the relevant
Currency unit and Dollars or such Foreign Currency calculated by the method specified pursuant to
Section 301 for the Securities of the relevant series, (ii) for any conversion of Dollars into any

5

 

Foreign Currency, the noon buying rate for such Foreign Currency for cable transfers quoted in New
York City as certified for customs purposes by the Federal Reserve Bank of New York and (iii) for
any conversion of one Foreign Currency into Dollars or another Foreign Currency, the spot rate at
noon local time in the relevant market at which, in accordance with normal banking procedures, the
Dollars or Foreign Currency into which conversion is being made could be purchased with the Foreign
Currency from which conversion is being made from major banks located in either New York City,
London or any other principal market for Dollars or such purchased Foreign Currency, in each case
determined by the Exchange Rate Agent. Unless otherwise specified with respect to any Securities
pursuant to Section 301, in the event of the unavailability of any of the exchange rates provided
for in the foregoing clauses (i), (ii) and (iii), the Exchange Rate Agent shall use, in its sole
discretion and without liability on its part, such quotation of the Federal Reserve Bank of New
York as of the most recent available date, or quotations from one or more major banks in New York
City, London or other principal market for such currency or currency unit in question, or such
other quotations as the Exchange Rate Agent shall deem appropriate. Unless otherwise specified by
the Exchange Rate Agent, if there is more than one market for dealing in any Currency or Currency
unit by reason of foreign exchange regulations or otherwise, the market to be used in respect of
such currency or currency unit shall be that upon which a nonresident issuer of securities
designated in such Currency or Currency unit would purchase such Currency or Currency unit in order
to make payments in respect of such securities.

     “Maturity” means, when used with respect to any Security, the date on which the
principal of such Security or an installment of principal becomes due and payable as therein or
herein provided, whether at the Stated Maturity or by declaration of acceleration, notice of
redemption, notice of option to elect repayment, notice of exchange or conversion, or otherwise.

     “Officers’ Certificate” means a written certificate signed in the name of the Issuer
or the Guarantor, as the case may be, by any two Authorized Officers, and delivered to the Trustee.

     “Opinion of Counsel” means a written opinion of legal counsel, who may be an employee
of, or counsel to, the Issuer, the Guarantor or the Trustee.

     “Original Issue Discount Security” means any Security which provides for an amount
less than the principal amount due and payable upon a declaration of acceleration of the Maturity
thereof pursuant to Section 502.

     “Outstanding” means, when used with respect to Securities, as of the date of
determination, all Securities authenticated and delivered under this Indenture, except:

     (i) Securities cancelled by the Trustee or delivered to the Trustee for cancellation
pursuant to the terms of this Indenture;

  (ii) Securities, or portions thereof, for whose payment or redemption or repayment at
the option of the Holder money in the necessary amount has been theretofore deposited with
the Trustee or any Paying Agent (other than the Issuer or the Guarantor) in trust or set
aside and segregated in trust by the Issuer or the Guarantor (if

6

 

the Issuer or the Guarantor
shall act as its own Paying Agent) for the Holders of such Securities, provided
that, if such Securities are to be redeemed, notice of such redemption has been duly given
pursuant to this Indenture or provision therefore satisfactory to the Trustee has been made;

  (iii) Securities, except to the extent provided in Sections 1402 and 1403, with respect
to which the Issuer has effected legal defeasance and/or covenant defeasance as provided in
Article Fourteen; and

  (iv) Securities which have been paid pursuant to Section 306, or Securities which have
been exchanged for other Securities which have been authenticated and delivered pursuant to
this Indenture, other than any such Securities in respect of which there shall have been
presented to the Trustee proof satisfactory to it that such Securities are held by a
protected purchaser (as defined in the Uniform Commercial Code) in whose hands such
Securities are valid obligations of the Issuer;

provided, however, that in determining whether the Holders of the requisite
principal amount of the Outstanding Securities have given any request, demand, authorization,
direction, notice, consent or waiver hereunder or are present at a meeting of Holders for quorum
purposes, and for the purpose of making the calculations required by TIA Section 313, (i) the
principal amount of an Original Issue Discount Security that may be counted in making such
determination or calculation and that shall be deemed to be Outstanding for such purpose shall be
equal to the amount of principal thereof that would be (or shall have been declared to be) due and
payable, at the time of such determination, upon a declaration of acceleration of the Maturity
thereof pursuant to Section 502, (ii) the principal amount of any Security denominated in a Foreign
Currency that may be counted in making such determination or calculation and that shall be deemed
Outstanding for such purpose shall be equal to the Dollar equivalent, determined as of the date
such Security is originally issued by the Issuer as set forth in an Exchange Rate Officer’s
Certificate delivered to the Trustee, of the principal amount (or, in the case of an Original Issue
Discount Security or Indexed Security, the Dollar equivalent as of such date of original issuance
of the amount determined as provided in clause (i) above or (iii) below, respectively) of such
Security, (iii) the principal amount of any Indexed Security that may be counted in making such
determination or calculation and that shall be deemed outstanding for such purpose shall be equal
to the principal face amount of such Indexed Security at original issuance, unless otherwise
provided with respect to such Security pursuant to Section 301, and (iv) Securities owned by the
Issuer, the Guarantor or any other obligor upon the Securities, or any Affiliate of the Issuer, the
Guarantor or of such other obligor, shall be disregarded and deemed not to be Outstanding, except
that, in determining whether the Trustee shall be protected in making such calculation or in
relying upon any such request, demand, authorization, direction, notice, consent or waiver, only
Securities which a Responsible Officer of the Trustee actually knows to be so owned shall be so
disregarded. Securities so owned which have been pledged in good faith may be regarded as
Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right to so
act with respect to such Securities and that the pledgee is not the Issuer, the Guarantor or any
other obligor upon the Securities or any Affiliate of the Issuer, the Guarantor or of such other
obligor.

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     “Paying Agent” means any Person authorized by the Issuer to pay the principal of (or
premium, if any) or interest, if any, on any Securities on behalf of the Issuer.

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

     “Place of Payment” means, when used with respect to the Securities of any series, the
place or places where the principal of (and premium, if any) and interest, if any, on such
Securities are payable as specified and as contemplated by or pursuant to Sections 301 and 1002.

     “Predecessor Security” means, when used with respect to any particular Security, every
previous Security evidencing all or a portion of the same debt as that evidenced by such particular
Security; and, for the purposes of this definition, any Security authenticated and delivered under
Section 306 in exchange for or in lieu of a mutilated, destroyed, lost or stolen Security, shall be
deemed to evidence the same debt as the mutilated, destroyed, lost or stolen Security.

     “Redemption Date” means, when used with respect to any Security to be redeemed, in
whole or in part, the date fixed for such redemption by or pursuant to this Indenture.

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

     “Registered Security” shall mean any Security which is registered in the Security
Register.

     “Regular Record Date” for the interest payable on any Interest Payment Date on the
Registered Securities of any series means the date specified for that purpose as contemplated by
Section 301, whether or not a Business Day.

     “Repayment Date” means, when used with respect to any Security to be repaid at the
option of the Holder, the date fixed for such repayment by or pursuant to this Indenture.

     “Repayment Price” means, when used with respect to any Security to be repaid at the
option of the Holder, the price at which it is to be repaid by or pursuant to this Indenture.

     “Responsible Officer” means, when used with respect to the Trustee, any officer within
the Corporate Trust Office of the Trustee, including any director, vice president, assistant vice
president, assistant secretary, assistant treasurer, trust officer or any other officer of the
Trustee who customarily performs functions similar to those performed by the Persons who at the
time shall be such officers, respectively, or to whom any corporate trust matter is referred
because of such person’s knowledge of and familiarity with the particular subject and who shall
have direct responsibility for the administration of this Indenture.

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     “Security” or “Securities” has the meaning stated in the recitals of this
Indenture and, more particularly, means any Security or Securities of any series authenticated and
delivered under this Indenture.

     “Security Register” and “Security Registrar” have the respective meanings
specified in Section 305.

     “Special Record Date” for the payment of any Defaulted Interest on the Registered
Securities of any series means a date fixed by the Trustee pursuant to Section 307.

     “Stated Maturity” means, when used with respect to any Security or any installment of
principal thereof or interest thereon, the date specified in such Security on which the principal
of such Security or such installment of principal or interest thereon is due and payable, as such
date may be extended pursuant to the provisions of Section 308.

     “Trust Indenture Act” or “TIA” means the Trust Indenture Act of 1939 as in
force at the date as of which this Indenture was executed, except as provided in Section 905;
provided, however, that in the event the Trust Indenture Act is amended after such
date, “Trust Indenture Act” or “TIA” means, to the extent required by any such amendment, the Trust
Indenture Act of 1939 as so amended.

     “Trustee” means the Person named as the “Trustee” in the first paragraph of this
Indenture until one or more successors replaces it pursuant to the applicable provisions of this
Indenture and, thereafter, shall mean each such successor. The foregoing sentence shall likewise
apply to any subsequent such successor or successors.

     “United States” means, unless otherwise specified with respect to any Securities
pursuant to Section 301, the United States of America (including the states and the District of
Columbia), its territories, its possessions and other areas subject to its jurisdiction.

     “United States person” means, unless otherwise specified with respect to any
Securities pursuant to Section 301, an individual who is a citizen or resident of the United
States, a corporation, partnership or other entity created or organized in or under the laws of the
United States or an estate or trust the income of which is subject to United States federal income
taxation regardless of its source.

     “Valuation Date” has the meaning specified in Section 312(c).

     “Yield to Maturity” means the yield to maturity, computed at the time of issuance of a
Security (or, if applicable, at the most recent redetermination of interest on such Security) and
as set forth in such Security in accordance with generally accepted United States bond yield
computation principles.

     SECTION 102. Compliance Certificates and Opinions. (a) Upon any application or request by the
Issuer or the Guarantor to the Trustee to take any action under any provision of this Indenture,
the Issuer or the Guarantor shall furnish to the Trustee an Officers’ Certificate stating that all
conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with and an Opinion of Counsel stating
that in the

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opinion of such counsel such action is authorized or permitted by this Indenture and
that all such conditions precedent, if any, have been complied with; and, except in the case of any
such application or request as to which the furnishing of documents is specifically required by any
provision of this Indenture relating to such particular application or request, no additional
certificate or opinion need be furnished.

  (b) Every certificate or opinion with respect to compliance with a condition or covenant
provided for in this Indenture (other than pursuant to Section 1005) shall include:

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

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

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

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

     SECTION 103. Form of Documents Delivered to Trustee. (a) In any case where several matters are
required to be certified by, or covered by an opinion of, any specified Person, it is not necessary
that all such matters be certified by, or covered by the opinion of, only one such Person, or that
they be so certified or covered by only one document, but one such Person may certify or give an
opinion as to some matters and one or more other such Persons as to other matters, and any such
Person may certify or give an opinion as to such matters in one or several documents.

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

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

     SECTION 104. Acts of Holders. (a) Any request, demand, authorization, direction, notice, consent,
waiver or other action provided by this Indenture to be given or taken by Holders of the
Outstanding Securities of all series or one or more series, as the case may be, may be embodied in
and evidenced by one or more instruments of substantially similar tenor signed by such Holders in
person or by agents duly appointed in writing. Except as herein

10

 

otherwise expressly provided, such
action shall become effective when such instrument or instruments or record or both are delivered
to the Trustee and, where it is hereby expressly required, to the Issuer or the Guarantor. Such
instrument or instruments and any such record (and the action embodied therein and evidenced
thereby) are herein sometimes referred to as the “Act” of the Holders signing such
instrument or instruments or so voting at any such meeting. Proof of execution of any such
instrument or of a writing appointing any such agent, or of the holding by any Person of a
Security, shall be sufficient for any purpose of this Indenture and conclusive in favor of the
Trustee, the Issuer or the Guarantor and any agent of the Trustee, the Issuer or the Guarantor, if
made in the manner provided in this Section. The record of any meeting of Holders of Securities
shall be proved in the manner provided in Section 1506.

     (b) The fact and date of the execution of any such instrument or writing, or the authority of
the Person executing the same, may be proved in any manner that the Trustee deems reasonably
sufficient.

     (c) The ownership of Registered Securities shall be proved by the Security Register.

     (d) Reserved

     (e) If the Issuer or the Guarantor shall solicit from the Holders of Registered Securities any
request, demand, authorization, direction, notice, consent, waiver or other action or Act, the
Issuer or the Guarantor, as the case may be, may, at its option, in or pursuant to a Board
Resolution, fix in advance a record date for the determination of Holders entitled to give such
request, demand, authorization, direction, notice, consent, waiver or other action or Act, but the
Issuer or the Guarantor, as the case may be, shall have no obligation to do so. Notwithstanding TIA
Section 316(c), such record date shall be the record date specified in or pursuant to such Board
Resolution, which shall be a date not earlier than the date 30 days prior to the first solicitation
of Holders generally in connection therewith and not later than the date such solicitation is
completed. If such a record date is fixed, such request, demand, authorization, direction, notice,
consent, waiver or other action or Act may be given before or after such record date, but only the
Holders of record at the close of business on such record date shall be deemed to be Holders for
the purposes of determining whether Holders of the requisite proportion of Outstanding Securities
have authorized or agreed or consented to such request, demand, authorization, direction, notice,
consent, waiver or other action or Act, and for that purpose the Outstanding Securities shall be
computed as of such record date; provided that no such authorization, agreement or consent
by the Holders on such record date shall be deemed effective unless it shall become effective
pursuant to the provisions of this Indenture not later than eleven months after the record date.

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

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     SECTION 105. Notices, etc., to Trustee, Issuer and Guarantor. Any request, demand, authorization,
direction, notice, consent, waiver or Act of Holders or other document provided or permitted by
this Indenture to be made upon, given or furnished to, or filed with:

  (1) the Trustee by any Holder, by the Issuer or the Guarantor shall be sufficient for
every purpose hereunder if made, given, furnished or filed in writing to or with the Trustee
at its Corporate Trust Office; or

  (2) the Issuer or the Guarantor by the Trustee or by any Holder shall be sufficient for
every purpose hereunder (unless otherwise herein expressly provided) if in writing and
mailed, first-class postage prepaid, to the Issuer or the Guarantor, as the case may be,
addressed to it at the address of its principal office specified in the first paragraph of
this Indenture or at any other address previously furnished in writing to the Trustee by the
Issuer or the Guarantor, as the case may be.

     SECTION 106. Notice to Holders; Waiver. (a) Where this Indenture provides for notice of any event
to Holders of Registered Securities by the Issuer, the Guarantor or the Trustee, such notice shall
be sufficiently given (unless otherwise herein expressly provided) if in writing and mailed,
first-class postage prepaid at the expense of the Issuer, to each such Holder affected by such
event, at his address as it appears in the Security Register, not later than the latest date, and
not earlier than the earliest date, prescribed for the giving of such notice. In any case where
notice to Holders of Registered Securities is given by mail, neither the failure to mail such
notice, nor any defect in any notice so mailed, to any particular Holder shall affect the
sufficiency of such notice with respect to other Holders of Registered Securities. Any notice
mailed to a Holder in the manner herein prescribed shall be conclusively deemed to have been
received by such Holder, whether or not such Holder actually receives such notice.

     (b) If by reason of the suspension of or irregularities in regular mail service or by reason
of any other cause it shall be impracticable to give such notice by mail, then such notification to
Holders of Registered Securities as shall be made in a manner approved by the Trustee shall
constitute a sufficient notification to such Holders for every purpose hereunder.

     (c) Any request, demand, authorization, direction, notice, consent or waiver required or
permitted under this Indenture shall be in the English language, except that any published notice
may be in an official language of the country of publication.

     (d) Where this Indenture provides for notice in any manner, such notice may be waived in
writing by the Person entitled to receive such notice, either before or after the event, and such
waiver shall be deemed the equivalent of notice given. Waivers of notice by Holders shall be filed
with the Trustee, but such filing shall not be a condition precedent to the validity of any action
taken in reliance upon such waiver.

     SECTION 107. Effect of Headings and Table of Contents. The Article and Section headings herein and
the Table of Contents are for convenience only and shall not affect the construction hereof.

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     SECTION 108. Successors and Assigns. All covenants and agreements in this Indenture by the Issuer
and the Guarantor shall bind its successors and assigns, whether so expressed or not.

     SECTION 109. Separability Clause. In case any provision in this Indenture or in any Security shall
be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining
provisions shall not in any way be affected or impaired thereby.

     SECTION 110. Benefits of Indenture. Nothing in this Indenture or in the Securities, the Guarantees,
express or implied, shall give to any Person (including any Security Registrar, any Paying Agent,
any Authenticating Agent and their successors hereunder), other than the parties hereto, any
benefit or any legal or equitable right, remedy or claim under this Indenture.

     SECTION 111. Governing Law and Jurisdiction. THIS INDENTURE AND THE SECURITIES, THE GUARANTEES AND
SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAW OF THE STATE OF NEW YORK, WITHOUT
REGARD TO PRINCIPLES OF CONFLICTS OF LAWS. THIS INDENTURE IS SUBJECT TO THE PROVISIONS OF THE TRUST
INDENTURE ACT THAT ARE REQUIRED TO BE PART OF THIS INDENTURE AND SHALL, TO THE EXTENT APPLICABLE,
BE GOVERNED BY SUCH PROVISIONS.

     Each of the Issuer, the Guarantor and the Trustee hereby submits to the non-exclusive
jurisdiction of the Federal and state courts in the Borough of Manhattan in The City of New York in
any suit or proceeding arising out of or relating to this Indenture or the transactions
contemplated hereby. The Issuer, the Guarantor and the Trustee irrevocably
waive any objection to the laying of venue of any suit or proceeding arising out of or relating to
this Indenture or the transactions contemplated hereby in Federal and state courts in the Borough
of Manhattan in The City of New York and irrevocably  waive and agree not to
plead or claim in any such court that any such suit or proceeding in any such court has been
brought in an inconvenient forum. The Issuer and the Guarantor irrevocably appoint Qimonda North
America Corp. and Infineon Technologies North America Corp., respectively, as their
authorized agent upon which process may be served in any such suit or proceeding, and agree
that service of process upon such agent, and written notice of said service to the Issuer or the
Guarantor, as appropriate, by the person serving the same to the respective addresses of the Issuer
or the Guarantor, shall be deemed in every respect effective service of process upon the Issuer or
the Guarantor in any such suit or proceeding. Such appointments shall be irrevocable so long as any of the Securities of
any series remain outstanding, or until the appointment of a successor by the
Issuer or the Guarantor, as the case may be, and such successor’s acceptance of such appointment.
Upon such acceptance, the Issuer or the Guarantor, as the case may be, shall notify the Trustee of the name and
address of such successor.
The Issuer and the Guarantor further agree to take
any and all action as may be necessary to maintain such designation and appointment of such agent
in full force and effect for a period of seven years from the date of this Indenture.

     SECTION 112. Legal Holidays. In any case where any Interest Payment Date, Redemption Date,
Repayment Date, sinking fund payment date, Stated Maturity or Maturity of any Security shall not be
a Business Day at any Place of Payment, then (notwithstanding any other provision of this Indenture
or any Security, Guarantee, other than a provision in the Securities of any series established
pursuant to Section 301 hereof which specifically states that such provision shall apply in lieu of
this Section), payment of principal (or premium, if any) or interest, if any, need not be made at
such Place of Payment on such date, but may be made on the

13

 

next succeeding Business Day at such
Place of Payment with the same force and effect as if made on the Interest Payment Date, Redemption
Date, Repayment Date or sinking fund payment date, or at the Stated Maturity or Maturity;
provided that no interest shall accrue on the amount so paid for the period from and after
such Interest Payment Date, Redemption Date, Repayment Date, sinking fund payment date, Stated
Maturity or Maturity, as the case may be.

ARTICLE TWO

SECURITIES FORMS

     SECTION 201. Forms of Securities. The Registered Securities of each series and the Guarantees shall
be in substantially the forms as shall be established in one or more indentures supplemental hereto
or approved from time to time by or pursuant to a Board Resolution in accordance with Section 301,
shall have such appropriate insertions, omissions, substitutions and other variations as are
required or permitted by this Indenture or any indenture supplemental hereto, and may have such
letters, numbers or other marks of identification or designation and such legends or endorsements
placed thereon as the Issuer or the Guarantor, as the case may be, may deem appropriate and as are
not inconsistent with the provisions of this Indenture, or as may be required to comply with any
law or with any rule or regulation made pursuant thereto or with any rule or regulation of any
stock exchange on which the Securities may be listed, or to conform to usage.

     The definitive Securities and the Guarantees shall be printed, lithographed or engraved or
produced by any combination of these methods on a steel engraved border or steel engraved borders,
or may be produced in any other manner, all as determined by the Officers executing such Securities
or Guarantees as evidenced by their execution of such Securities or Guarantees.

     Any form of Security approved by or pursuant to a Board Resolution must be acceptable as to
form to the Trustee, such acceptance to be evidenced by the Trustee’s authentication of Securities
in that form or a certificate signed by a Responsible Officer of the Trustee and delivered to the
Issuer.

     SECTION 202. Form of Trustee’s Certificate of Authentication. Subject to Section 611, the Trustee’s
certificate of authentication shall be in substantially the following form:

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

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	 	 	 	 	DEUTSCHE BANK TRUST COMPANY AMERICAS,

      as Trustee	 	 
	 
	 	 	 	 	 	 	 	 
	Dated:

	 	 	 	By:	 	 	 	 
	 

	 	 

	 	 	 	 

Authorized Signatory
	 	 

     SECTION
203. Securities Issuable in Global Form. (a) If Securities of a series are issuable in
global form, as specified and contemplated by Section 301, then, notwithstanding clause (8) of
Section 301 and the provisions of Section 302, any such Security in global form shall represent the
Outstanding Securities of such series as shall be specified in such Security, and may provide that
it shall represent the aggregate amount of Outstanding Securities of such series from time to time
endorsed thereon, and that the aggregate amount of Outstanding Securities of such series
represented by such Security in global form may from time to time be increased or decreased to
reflect exchanges. Any endorsement of a Security in global form to reflect the amount, or any
increase or decrease in the amount, of Outstanding Securities represented thereby shall be made by
the Trustee in such manner and upon instructions given by such Person or Persons as shall be
specified therein or in the Issuer Order to be delivered to the Trustee pursuant to Section 303 or
304. Subject to the provisions of Section 303 and, if applicable, Section 304, the Trustee shall
deliver and redeliver any Security in permanent global form in the manner and upon instructions
given by the Person or Persons specified therein or in the applicable Issuer Order. If a Issuer
Order pursuant to Section 303 or 304 has been, or simultaneously is, delivered, any instructions by
the Issuer with respect to endorsement, delivery or redelivery of a Security in global form shall
be in writing but need not comply with Section 102 and need not be accompanied by an Opinion of
Counsel.

     The provisions of the last sentence of Section 303 shall apply to any Security represented by
a Security in global form if such Security was never issued and sold by the Issuer and the Issuer
delivers to the Trustee the Security in global form together with written instructions (which need
not comply with Section 102 and need not be accompanied by an
Opinion of Counsel) with regard to the reduction in the principal amount of Securities
represented thereby, together with the written statement contemplated by the last sentence of
Section 303.

     Notwithstanding the provisions of Section 307, unless otherwise specified as contemplated by
Section 301, payment of principal of (and premium, if any) and interest, if any, on any Security in
permanent global form shall be made to the Person or Persons specified in such Security in global
form.

     Notwithstanding the provisions of Section 309 and except as provided in the preceding
paragraph, the Issuer, the Guarantor, the Trustee and any agent of the Issuer, the Guarantor and
the Trustee shall treat as the Holder of such principal amount of Outstanding Securities
represented by a permanent global Security (i) in the case of a permanent global

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Security in
registered form, the Person in whose name such Security is registered in the Security Register, or
(ii) in the case of a permanent global Security in bearer form, Euroclear or Clearstream.

     (b) So long as the Securities of any series are eligible for book-entry settlement with the
Depositary, or unless otherwise required by law, Section 301 for such series or otherwise
contemplated by this subsection (b), such Securities may be represented by one or more Securities
in global form registered in the name of the Depositary or the nominee of the Depositary (a
“Global Security”). The transfer and exchange of beneficial interests in any such Global
Security shall be effected through the Depositary in accordance with the Indenture and the
applicable procedures of the Depositary. Except as provided below, beneficial owners of a Global
Security shall not be entitled to have certificates registered in their names, will not receive or
be entitled to receive physical delivery of certificates in definitive form and will not be
considered holders of such Global Security.

    The following provisions shall apply only to Global Securities:

     (i) Each Global Security authenticated under the Indenture shall be registered in the
name of the Depositary or a nominee thereof and delivered to such Depositary or a nominee
thereof or Custodian therefor, and each such Global Security shall constitute a single
Security for all purposes of the Indenture.

     (ii) Notwithstanding any other provision in the Indenture, no Global Security may be
exchanged in whole or in part for Securities registered, and no transfer of a Global
Security in whole or in part may be registered, in the name of any Person other than the
Depositary or a nominee thereof unless (A) the Depositary (x) has notified the Issuer or the
Guarantor that it is unwilling or unable to continue as Depositary for such Global Security
or (y) has ceased to be a clearing agency registered under the Securities Exchange Act of
1934, as amended, and a successor Depositary is not appointed by the Issuer or the Guarantor
within 90 days or (B) an Event of Default has occurred and is continuing and the maturity of
such Securities shall have been accelerated in accordance with the terms of the Securities
and any holder shall have requested in writing the issuance of definitive certificated
securities. Any Global Security exchanged pursuant to clause (A) or (B) above shall be so
exchanged in whole and not in part. Any Security
issued in exchange for a Global Security or any portion thereof shall be a Global
Security; provided that any such Security so issued that is registered in the name of a
Person other than the Depositary or a nominee thereof shall not be a Global Security.

     (iii) Securities issued in exchange for a Global Security or any portion thereof
pursuant to clause (ii) above and which is not a Global Security shall be issued in
definitive, fully registered form, without interest coupons, shall have an aggregate
principal amount equal to that of such Global Security or portion thereof to be so
exchanged, shall be registered in such names and be in such authorized denominations as the
Depositary shall designate and shall bear any legends required hereunder. Any Global
Security to be exchanged in whole shall be surrendered by the Depositary to the Trustee, as
Security Registrar. With regard to any Global Security to be exchanged in part, either such
Global Security shall be so surrendered for exchange or, if the Trustee is

16

 

acting as
custodian for the Depositary or its nominee with respect to such Global Security, the
principal amount thereof shall be reduced, by an amount equal to the portion thereof to be
so exchanged, by means of an appropriate adjustment made on the records of the Trustee. Upon
any such surrender or adjustment, the Trustee shall authenticate and make available for
delivery the Security issuable on such exchange to or upon the written order of the
Depositary or an authorized representative thereof.

     (iv) In the event of the occurrence of any of the events specified in clause (ii)
above, the Issuer will promptly make available to the Trustee a reasonable supply of
certificated Securities in definitive, fully registered form, without interest coupons.

     (v) Neither any members of, or participants in, the Depositary (“Agent
Members”) nor any other Persons on whose behalf Agent Members may act shall have any
rights under this Indenture with respect to any Global Security registered in the name of
the Depositary or any nominee thereof, and the Depositary or such nominee, as the case may
be, may be treated by the Issuer, the Guarantor, the Trustee and any agent of the Issuer,
the Guarantor or the Trustee as the absolute owner and holder of such Global Security for
all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the
Issuer, the Guarantor, the Trustee or any agent of the Issuer, the Guarantor or the Trustee
from giving effect to any written certification, proxy or other authorization furnished by
the Depositary or such nominee, as the case may be, or impair, as between the Depositary,
its Agent Members and any other Person on whose behalf an Agent Member may act, the
operation of customary practices of such Persons governing the exercise of the rights of a
holder of any Security.

     (vi) At such time as all interests in a Global Security have been redeemed,
repurchased, converted, canceled or exchanged for Securities in certificated form, such
Global Security shall, upon receipt thereof, be canceled by the Trustee in accordance with
standing procedures and instructions existing between the Depositary and the custodian for
the Depositary. At any time prior to such cancellation, if any interest in a Global Security
is redeemed, repurchased, converted, canceled or exchanged for Securities in certificated
form, the principal amount of such Global Security shall, in accordance with the standing
procedures and instructions existing between the Depositary and the custodian for the
Depositary, be appropriately reduced, and an endorsement shall be
made on such Global Security, by the Trustee or the custodian for the Depositary, at
the direction of the Trustee, to reflect such reduction.

     (c) Notwithstanding anything other provision of this Indenture, so long as a series of
Securities is a Global Security, the parties hereto will be bound at all times by the applicable
procedures of the Depositary with respect to such series.

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ARTICLE THREE

THE SECURITIES

     SECTION 301. Amount Unlimited; Issuable in Series. The aggregate principal amount of
Securities which may be authenticated and delivered under this Indenture is unlimited. All
Securities of any one series need not be issued at the same time and, unless otherwise provided, a
series may be reopened, without the consent of the Holders, for issuances of additional Securities
of such series.

     There shall be established in one or more Board Resolutions or pursuant to authority granted
by one or more Board Resolutions and, subject to Section 303, set forth, or determined in the
manner provided, in an Officers’ Certificate, or established in one or more indentures supplemental
hereto, prior to the issuance of Securities of any series, any or all of the following, as
applicable (each of which, except for the matters set forth in clauses (1), (2) and (15) below, if
so provided, may be determined from time to time by the Issuer and the Guarantor with respect to
unissued Securities of the series when issued from time to time):

     (1) the title of the Securities of the series, including CUSIP numbers, (which shall
distinguish the Securities of such series from all other series of Securities);

     (2) any limit upon the aggregate principal amount of the Securities of the series that
may be authenticated and delivered under this Indenture (except for Securities authenticated
and delivered upon registration of transfer of, or in exchange for, or in lieu of, other
Securities of the series pursuant to Section 304, 305, 306, 906, 1107 or 1305);

     (3) the date or dates, or the method by which such date or dates will be determined or
extended, on which the principal of the Securities of the series shall be payable;

     (4) the rate or rates at which the Securities of the series shall bear interest, if
any, or the method by which such rate or rates shall be determined, the date or dates from
which such interest shall accrue or the method by which such date or dates shall be
determined, the Interest Payment Dates on which such interest will be payable and the
Regular Record Date, if any, for the interest payable on any Registered Security on any
Interest Payment Date, or the method by which such date shall be determined, and the basis
upon which such interest shall be calculated if other than that of a 360-day year of twelve
30-day months;

     (5) the place or places, if any, other than or in addition to New York, New York, where
the principal of (and premium, if any) and interest, if any, on Securities of the series
shall be payable, any Registered Securities of the series may be surrendered for
registration of transfer, Securities of the series may be surrendered for exchange, where
Securities of that series that are convertible or exchangeable may be surrendered for
conversion or exchange, as applicable, and where notices or demands to or upon the Issuer or
the Guarantor in respect of the Securities of the series and this Indenture may be served;

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     (6) the period or periods within which, the price or prices at which, the Currency or
Currencies in which, and other terms and conditions upon which Securities of the series may
be redeemed, in whole or in part, at the option of the Issuer or the Guarantor, if the
Issuer or the Guarantor is to have the option;

     (7) the obligation, if any, of the Issuer or the Guarantor to redeem, repay or purchase
Securities of the series pursuant to any sinking fund or analogous provision or at the
option of a Holder thereof, and the period or periods within which or the date or dates on
which, the price or prices at which, the Currency or Currencies in which, and other terms
and conditions upon which, Securities of the series shall be redeemed, repaid or purchased,
in whole or in part, pursuant to such obligation;

     (8) if other than denominations of $1,000 and any integral multiple thereof, the
denomination or denominations in which any Registered Securities of the series shall be
issuable;

     (9) if other than the Trustee, the identity of each Security Registrar and/or Paying
Agent;

     (10) if other than the principal amount thereof, the portion of the principal amount of
Securities of the series that shall be payable upon declaration of acceleration of the
Maturity thereof pursuant to Section 502 or the method by which such portion shall be
determined;

     (11) if other than Dollar, the Currency or Currencies in which payment of the principal
of (or premium, if any) or interest, if any, on the Securities of the series shall be made
or in which the Securities of the series shall be denominated and the particular provisions
applicable thereto in accordance with, in addition to or in lieu of any of the provisions of
Section 312;

     (12) whether the amount of payments of principal of (or premium, if any) or interest,
if any, on the Securities of the series may be determined with reference to an index,
formula or other method (which index, formula or method may be based, without limitation, on
one or more Currencies, commodities, equity indices or other indices), and the manner in
which such amounts shall be determined;

     (13) whether the principal of (or premium, if any) or interest, if any, on the
Securities of the series are to be payable, at the election of the Issuer, the Guarantor or
a Holder thereof, in one or more Currencies, other than that in which such Securities are
denominated or stated to be payable, the period or periods within which (including the
Election Date), and the terms and conditions upon which, such election may be made, and the
time and manner of determining the exchange rate between the Currency or Currencies in which
such Securities are denominated or stated to be payable and the Currency or Currencies in
which such Securities are to be paid, in each case in accordance with, in addition to or in
lieu of any of the provisions of Section 312;

     (14) provisions, if any, granting special rights to the Holders of Securities of the
series upon the occurrence of such events as may be specified;

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     (15) any deletions from, modifications of or additions to the Events of Default or
covenants (including any deletions from, modifications of or additions to any of the
provisions of Section 1006) of the Issuer and the Guarantor with respect to Securities of
the series, whether or not such Events of Default or covenants are consistent with the
Events of Default or covenants set forth herein;

     (16) whether any Securities of the series are to be issuable initially in temporary
global form and whether any Securities of the series are to be issuable in permanent global
form without coupons and, if so, whether beneficial owners of interests in any such
permanent global Security may exchange such interests for Securities of such series in
certificated form and of like tenor of any authorized form and denomination and the
circumstances under which any such exchanges may occur, if other than in the manner provided
in Section 305, and, if Registered Securities of the series are to be issuable as a global
Security, the identity of the depository for such series;

     (17) the date as of which any temporary global Security representing Outstanding
Securities of the series shall be dated if other than the date of original issuance of the
first Security of the series to be issued;

     (18) the Person to whom any interest on any Registered Security of the series shall be
payable, if other than the Person in whose name such Security (or one or more Predecessor
Securities) is registered at the close of business on the Regular Record Date for such
interest, and the extent to which, or the manner in which, any interest payable on a
temporary global Security on an Interest Payment Date will be paid if other than in the
manner provided in Section 304;

     (19) the applicability, if any, of Sections 1402 and/or 1403 to the Securities of the
series and any provisions in modification of, in addition to or in lieu of any of the
provisions of Article Fourteen;

     (20) if the Securities of such series are to be issuable in definitive form (whether
upon original issue or upon exchange of a temporary Security of such series) only upon
receipt of certain certificates or other documents or satisfaction of other conditions, then
the form and/or terms of such certificates, documents or conditions;

     (21) whether, under what circumstances and the Currency in which, the Issuer or the
Guarantor will pay Additional Amounts as contemplated by Section 1004 on the Securities of
the series to any Holder in respect of any tax, assessment or
governmental charge and, if so, whether the Issuer will have the option to redeem such
Securities rather than pay such Additional Amounts (and the terms of any such option);

     (22) the designation of the initial Exchange Rate Agent, if any;

     (23) if the Securities of the series are to be convertible into or exchangeable for any
securities of any Person (including the Issuer and the Guarantor), the terms and conditions
upon which such Securities will be so convertible or exchangeable;

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     (24) whether Securities of the series are subject to subordination and, if so, the
terms of such subordination and whether Securities of the series are subject to a Guarantee
and, if so, the terms of such Guarantee;

     (25) whether Securities of the series are secured by any collateral and, if so, the
provisions applicable to such security; and

     (26) any other terms of the series (which terms shall not be inconsistent with the
provisions of this Indenture or the requirements of the Trust Indenture Act).

     All Securities of any one series shall be substantially identical except as to denomination
and except as may otherwise be provided in or pursuant to such Board Resolution (subject to Section
303) and set forth in such Officers’ Certificate or in any such indenture supplemental hereto.

     SECTION 302. Denominations. The Securities of each series shall be issuable in such denominations
as shall be specified as contemplated by or pursuant to Section 301. With respect to Securities of
any series denominated in Dollars, in the absence of any such provisions with respect to the
Securities of any series, the Registered Securities of such series, other than Registered
Securities issued in global form (which may be of any denomination) shall be issuable in
denominations of $1,000 and any integral multiple thereof.

     SECTION 303. Execution, Authentication, Delivery and Dating. The Securities and the Guarantees
shall be executed on behalf of the Issuer or Guarantor, as the case may be, by any Authorized
Officer. The signature of any Authorized Officer on the Securities and the Guarantees may be manual
or facsimile signatures of the present or any future such authorized Officer and may be imprinted
or otherwise reproduced on the Securities.

     Securities or Guarantees bearing the manual or facsimile signatures of individuals who were at
any time the proper Authorized Officers of the Issuer or Guarantor, as the case may be, shall bind
the Issuer or the Guarantor, notwithstanding that such individuals or any of them have ceased to
hold such offices prior to the authentication and delivery of such Securities and Guarantees or did
not hold such offices at the date of such Securities or Guarantees.

     At any time and from time to time after the execution and delivery of this Indenture, the
Issuer and the Guarantor may deliver Securities of any series, including the Guarantees, executed
by the Issuer and the Guarantor, to the Trustee for authentication, together with a Issuer Order or
Guarantor Order for the authentication and delivery of such Securities and Guarantees, and the
Trustee in accordance with the Issuer Order shall authenticate and deliver such Securities. If all
the Securities of any series are not to be issued at one time and if the Board Resolution or
supplemental indenture establishing such series shall so permit, such Issuer Order may set forth
procedures acceptable to the Trustee for the issuance of such Securities and determining the terms
of particular Securities of such series, such as interest rate, maturity date, date of issuance and
date from which interest shall accrue. In authenticating such Securities, and accepting the
additional responsibilities under this Indenture in relation to such Securities, the Trustee shall
be entitled to receive, and (subject to TIA Section 315(a) through 315(d)) shall be fully protected
in relying upon:

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     (i) an Opinion of Counsel stating:

     (a) that the form or forms of such Securities, including the Guarantees, have
been established in conformity with the provisions of this Indenture;

     (b) that the terms of such Securities, including the Guarantees, have been
established in conformity with the provisions of this Indenture; and

     (c) that such Securities, including the Guarantees, when completed by
appropriate insertions and executed and delivered by the Issuer and the Guarantor,
as the case may be, to the Trustee for authentication in accordance with this
Indenture, authenticated and delivered by the Trustee in accordance with this
Indenture and issued by the Issuer in the manner and subject to any conditions
specified in such Opinion of Counsel, will constitute valid and binding obligations
of the Issuer, and the Guarantor, as the case may be, enforceable in accordance with
their terms, except as may be limited by (i) bankruptcy, insolvency, reorganization,
moratorium, fraudulent conveyance, liquidation or similar laws relating to, or
affecting the enforcement of, creditors’ rights and remedies, (ii) the application
of general principles of equity (regardless of whether such enforceability is
considered in a proceeding in equity or law), including, without limitation, (A) the
possible unavailability of specific performance, injunctive relief or any other
equitable remedy and (B) concepts of materiality, reasonableness, good faith and
fair dealing, and (iii) public policy and subject to such other qualifications as
such counsel shall conclude do not materially affect the rights of Holders of such
Securities; and

     (ii) an Officers’ Certificate stating, to the best of the knowledge of the signers of
such certificate, that no Event of Default with respect to any of the Securities shall have
occurred and be continuing.

     Notwithstanding the provisions of Section 301 and of this Section 303, if all the Securities
of any series are not to be issued at one time, it shall not be necessary to deliver an Officers’
Certificate otherwise required pursuant to Section 301 or the Issuer Order, Opinion of
Counsel or Officers’ Certificate otherwise required pursuant to the preceding paragraph
at the time of issuance of each Security of such series, but such order, opinion and certificates,
with appropriate modifications to cover such future issuances, shall be delivered at or before the
time of issuance of the first Security of such series.

     Each Registered Security shall be dated the date of its authentication.

     No Security shall be entitled to any benefit under this Indenture or be valid or obligatory
for any purpose unless there appears on such Security a certificate of authentication substantially
in the form provided for herein duly executed by the Trustee by manual signature of an authorized
signatory, and such certificate upon any Security shall be conclusive evidence, and the only
evidence, that such Security has been duly authenticated and delivered hereunder and is entitled to
the benefits of this Indenture. Notwithstanding the foregoing, if any Security shall have been
authenticated and delivered hereunder but never issued and sold by the Issuer, and the

22

 

Issuer shall
deliver such Security to the Trustee for cancellation as provided in Section 310 together with a
written statement (which need not comply with Section 102 and need not be accompanied by an Opinion
of Counsel) stating that such Security has never been issued and sold by the Issuer, for all
purposes of this Indenture such Security shall be deemed never to have been authenticated and
delivered hereunder and shall never be entitled to the benefits of this Indenture.

          SECTION 304. Temporary Securities. (a)  Pending the preparation of definitive Securities of any
series, the Issuer and the Guarantor may execute, and upon Issuer Order the Trustee shall
authenticate and deliver, temporary Securities, including Guarantees, which are printed,
lithographed, typewritten, mimeographed or otherwise produced, in any authorized denomination,
substantially of the tenor of the definitive Securities in lieu of which they are issued, in
registered form, and with such appropriate insertions, omissions, substitutions and other
variations as the officers executing such Securities may determine, as conclusively evidenced by
their execution of such Securities. In the case of Securities of any series, such temporary
Securities may be in global form.

          Except in the case of temporary Securities in global form (which shall be exchanged in
accordance with Section 304(b) or as otherwise provided in or pursuant to a Board Resolution), if
temporary Securities of any series are issued, the Issuer will cause definitive Securities of that
series to be prepared without unreasonable delay. After the preparation of definitive Securities
of such series, the temporary Securities of such series shall be exchangeable for definitive
Securities of such series upon surrender of the temporary Securities of such series at the office
or agency of the Issuer in a Place of Payment for that series, without charge to the Holder. Upon
surrender for cancellation of any one or more temporary Securities of any series, the Issuer shall
execute and the Trustee shall authenticate and deliver in exchange therefor a like principal amount
of definitive Securities of the same series of authorized denominations. Until so exchanged, the
temporary Securities of any series shall in all respects be entitled to the same benefits under
this Indenture as definitive Securities of such series.

          (b) Unless otherwise provided in or pursuant to a Board Resolution, this Section 304(b) shall
govern the exchange of temporary Securities issued in global form. If
temporary Securities of any series are issued in global form, any such temporary global
Security shall, unless otherwise provided therein, be delivered to the London office of a
depositary or common depositary (the “Common Depositary”), for the benefit of Euroclear and
Clearstream, for credit to the respective accounts of the beneficial owners of such Securities (or
to such other accounts as they may direct).

          Without unnecessary delay but in any event not later than the date specified in, or determined
pursuant to the terms of, any such temporary global Security (the “Exchange Date”), the
Issuer shall deliver to the Trustee definitive Securities, in aggregate principal amount equal to
the principal amount of such temporary global Security, executed by the Issuer. On or after the
Exchange Date, such temporary global Security shall be surrendered by the Common Depositary to the
Trustee, as the Issuer’s agent for such purpose, to be exchanged, in whole or from time to time in
part, for definitive Securities without charge, and the Trustee shall authenticate and deliver, in
exchange for each portion of such temporary global Security, an equal aggregate principal amount of
definitive Securities of the same series of authorized denominations and of

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like tenor as the
portion of such temporary global Security to be exchanged. The definitive Securities to be
delivered in exchange for any such temporary global Security shall be registered form or permanent
global registered form, or any combination thereof, as specified as contemplated by Section 301,
and, if any combination thereof is so specified, as requested by the beneficial owner thereof;
provided, however, that, unless otherwise specified in such temporary global
Security, upon such presentation by the Common Depositary, such temporary global Security is
accompanied by a certificate dated the Exchange Date or a subsequent date and signed by Euroclear
as to the portion of such temporary global Security held for its account then to be exchanged and a
certificate dated the Exchange Date or a subsequent date and signed by Clearstream as to the
portion of such temporary global Security held for its account then to be exchanged, each in the
form set forth in Exhibit A-2 to this Indenture or in such other form as may be established
pursuant to Section 301.

          Unless otherwise specified in such temporary global Security, the interest of a beneficial
owner of Securities of a series in a temporary global Security shall be exchanged for definitive
Securities of the same series and of like tenor following the Exchange Date when the account holder
instructs Euroclear or Clearstream, as the case may be, to request such exchange on his behalf and
delivers to Euroclear or Clearstream, as the case may be, a certificate in the form set forth in
Exhibit A-1 to this Indenture (or in such other form as may be established pursuant to Section
301), dated no earlier than 15 days prior to the Exchange Date, copies of which certificate shall
be available from the offices of Euroclear and Clearstream, the Trustee, any Authenticating Agent
appointed for such series of Securities and each Paying Agent. Unless otherwise specified in such
temporary global Security, any such exchange shall be made free of charge to the beneficial owners
of such temporary global Security, except that a Person receiving definitive Securities must bear
the cost of insurance, postage, transportation and the like unless such Person takes delivery of
such definitive Securities in person at the offices of Euroclear or Clearstream.

          Until exchanged in full as hereinabove provided, the temporary Securities of any series shall
in all respects be entitled to the same benefits under this Indenture as definitive Securities of
the same series and of like tenor authenticated and delivered hereunder, except that, unless
otherwise specified as contemplated by Section 301, interest payable on a temporary
global Security on an Interest Payment Date for Securities of such series occurring prior to
the applicable Exchange Date shall be payable to Euroclear and Clearstream on such Interest Payment
Date upon delivery by Euroclear and Clearstream to the Trustee of a certificate or certificates in
the form set forth in Exhibit A-2 to this Indenture (or in such other forms as may be established
pursuant to Section 301), for credit without further interest on or after such Interest Payment
Date to the respective accounts of Persons who are the beneficial owners of such temporary global
Security on such Interest Payment Date and who have each delivered to Euroclear or Clearstream, as
the case may be, a certificate dated no earlier than 15 days prior to the Interest Payment Date
occurring prior to such Exchange Date in the form set forth as Exhibit A-1 to this Indenture (or in
such other forms as may be established pursuant to Section 301). Notwithstanding anything to the
contrary herein contained, the certifications made pursuant to this paragraph shall satisfy the
certification requirements of the preceding two paragraphs of this Section 304(b) and of the third
paragraph of Section 303 of this Indenture and the interests of the Persons who are the beneficial
owners of the temporary global Security with respect to which such certification was made will be
exchanged for definitive Securities of the same series and of

24

 

like tenor on the Exchange Date or
the date of certification if such date occurs after the Exchange Date, without further act or deed
by such beneficial owners. Except as otherwise provided in this paragraph, no payments of
principal (or premium, if any) or interest, if any, owing with respect to a beneficial interest in
a temporary global Security will be made unless and until such interest in such temporary global
Security shall have been exchanged for an interest in a definitive Security. Any interest so
received by Euroclear and Clearstream and not paid as herein provided shall be returned to the
Trustee prior to the expiration of two years after such Interest Payment Date in order to be repaid
to the Issuer.

          SECTION 305. Registration, Registration of Transfer and Exchange. The Issuer and/or the Guarantor
shall cause to be kept at the Corporate Trust Office of the Trustee or in any office or agency of
the Issuer or the Guarantor in a Place of Payment a register for each series of Securities (the
registers maintained in such office or in any such office or agency of the Issuer or the Guarantor
in a Place of Payment being herein sometimes referred to collectively as the “Security
Register”) in which, subject to such reasonable regulations as it may prescribe, the Issuer or
the Guarantor shall provide for the registration of Registered Securities and of transfers of
Registered Securities. The Security Register shall be in written form or any other form capable of
being converted into written form within a reasonable time. The Trustee, at its Corporate Trust
Office, is hereby initially appointed “Security Registrar” for the purpose of registering
Registered Securities and transfers of Registered Securities on such Security Register as herein
provided. In the event that the Trustee shall cease to be Security Registrar, it shall have the
right to examine the Security Register at all reasonable times.

          Upon surrender for registration of transfer of any Registered Security of any series at any
office or agency of the Issuer or the Guarantor in a Place of Payment for that series, the Issuer
shall execute, and the Trustee shall authenticate and deliver, in the name of the designated
transferee or transferees, one or more new Registered Securities of the same series, of any
authorized denominations and of a like aggregate principal amount, bearing a number not
contemporaneously outstanding and containing identical terms and provisions.

          At the option of the Holder, Registered Securities of any series may be exchanged for other
Registered Securities of the same series, of any authorized denomination or denominations and of a
like aggregate principal amount, containing identical terms and provisions, upon surrender of the
Registered Securities to be exchanged at any such office or agency. Whenever any Registered
Securities are so surrendered for exchange, the Issuer shall execute, and the Trustee shall
authenticate and deliver, the Registered Securities which the Holder making the exchange is
entitled to receive.

          Notwithstanding the foregoing, except as otherwise specified as contemplated by Section 301,
any permanent global Security shall be exchangeable only as provided in this paragraph. If any
beneficial owner of an interest in a permanent global Security is entitled to exchange such
interest for Securities of such series and of like tenor and principal amount of another authorized
form and denomination, as specified as contemplated by Section 301 and provided that any applicable
notice provided in the permanent global Security shall have been given, then without unnecessary
delay but in any event not later than the earliest date on which such interest may be so exchanged,
the Issuer shall deliver to the Trustee definitive Securities in aggregate principal amount equal
to the principal amount of such beneficial owner’s interest in

25

 

such permanent global Security,
executed by the Issuer. On or after the earliest date on which such interests may be so exchanged,
such permanent global Security shall be surrendered by the Common Depositary or such other
depositary as shall be specified in the Issuer Order with respect thereto to the Trustee, as the
Issuer’s agent for such purpose, to be exchanged, in whole or from time to time in part, for
definitive Securities without charge and the Trustee shall authenticate and deliver, in exchange
for each portion of such permanent global Security, an equal aggregate principal amount of
definitive Securities of the same series of authorized denominations and of like tenor as the
portion of such permanent global Security to be exchanged provided, however, that
no such exchanges may occur during a period beginning at the opening of business 15 days before any
selection of Securities to be redeemed and ending on the relevant Redemption Date if the Security
for which exchange is requested may be among those selected for redemption. If a Registered
Security is issued in exchange for any portion of a permanent global Security after the close of
business at the office or agency where such exchange occurs on (i) any Regular Record Date and
before the opening of business at such office or agency on the relevant Interest Payment Date, or
(ii) any Special Record Date and before the opening of business at such office or agency on the
related proposed date for payment of Defaulted Interest, interest or Defaulted Interest, as the
case may be, will not be payable on such Interest Payment Date or proposed date for payment, as the
case may be, in respect of such Registered Security, but will be payable on such Interest Payment
Date or proposed date for payment, as the case may be, only to the Person to whom interest in
respect of such portion of such permanent global Security is payable in accordance with the
provisions of this Indenture.

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

          Every Registered Security presented or surrendered for registration of transfer or for
exchange shall (if so required by the Issuer or the Security Registrar) be duly endorsed, or be
accompanied by a written instrument of transfer in form satisfactory to the Issuer and the
Security Registrar, duly executed by the Holder thereof or his attorney duly authorized in
writing.

          No service charge shall be made for any registration of transfer or exchange of Securities,
but the Issuer or the Guarantor may require payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in connection with any registration of transfer or exchange
of Securities, other than exchanges pursuant to Section 304, 906, 1107 or 1305 not involving any
transfer.

          The Issuer and the Guarantor shall not be required (i) to issue, register the transfer of or
exchange any Security if such Security may be among those selected for redemption during a period
beginning at the opening of business 15 days before selection of the Securities to be redeemed
under Section 1103 and ending at the close of business on the day of the mailing of the relevant
notice of redemption, or (ii) to register the transfer of or exchange any Registered Security so
selected for redemption in whole or in part, except, in the case of any Registered Security to be
redeemed in part, the portion thereof not to be redeemed, or (iii) to issue, register

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the transfer
of or exchange any Security which has been surrendered for repayment at the option of the Holder,
except the portion, if any, of such Security not to be so repaid.

          SECTION 306. Mutilated, Destroyed, Lost and Stolen Securities. If any mutilated Security is
surrendered to the Trustee, the Issuer or the Guarantor, together with, in proper cases, such
security or indemnity as may be required by the Issuer, the Guarantor or the Trustee to save each
of them or any agent of either of them harmless, the Issuer shall execute and the Trustee shall
authenticate and deliver in exchange therefor a new Security of the same series and principal
amount, containing identical terms and provisions and bearing a number not contemporaneously
outstanding.

          If there shall be delivered to the Issuer (or the Guarantor) and to the Trustee (i) evidence
to their satisfaction of the destruction, loss or theft of any Security, and (ii) such security or
indemnity as may be required by them to save each of them and any agent of either of them harmless,
then, in the absence of notice to the Issuer, the Guarantor or the Trustee that such Security has
been acquired by a protected purchaser (as defined in the Uniform Commercial Code), the Issuer
shall execute and upon its request the Trustee shall authenticate and deliver, in lieu of any such
destroyed, lost or stolen Security, a new Security of the same series and principal amount,
containing identical terms and provisions and bearing a number not contemporaneously outstanding.

          Notwithstanding the provisions of the previous two paragraphs, in case any such mutilated,
destroyed, lost or stolen Security has become or is about to become due and payable, the Issuer in
its discretion may, instead of issuing a new Security, pay such Security.

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

          Every new Security of any series issued pursuant to this Section in lieu of any destroyed,
lost or stolen Security shall constitute an original additional contractual obligation of the
Issuer, whether or not the destroyed, lost or stolen Security and shall be entitled to all the
benefits of this Indenture equally and proportionately with any and all other Securities of that
series duly issued hereunder.

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

          SECTION 307. Payment of Interest; Interest Rights Preserved; Optional Interest Reset. (a)  Except
as otherwise specified with respect to a series of Securities in accordance with the provisions of
Section 301, interest, if any, on any Registered Security that is payable, and is punctually paid
or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name that
Security (or one or more Predecessor Securities) is registered at the close of business on the
Regular Record Date for such interest at the office or agency of the Issuer maintained for such
purpose pursuant to Section 1002; provided, however, that each

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installment of
interest, if any, on any Registered Security may at the Issuer’s option be paid by (i) mailing a
check for such interest, payable to or upon the written order of the Person entitled thereto
pursuant to Section 309, to the address of such Person as it appears on the Security Register or
(ii) transfer to an account maintained by the payee inside the United States.

          Unless otherwise provided as contemplated by Section 301, every permanent global Security will
provide that interest, if any, payable on any Interest Payment Date will be paid to each of DTC and/or
Euroclear and Clearstream with respect to that portion of such permanent Global Security held for
its account by the Common Depositary, for the purpose of permitting each of DTC and/or Euroclear and
Clearstream to credit the interest, if any, received by it in respect of such permanent global
Security to the accounts of the beneficial owners thereof.

          Except as otherwise specified with respect to a series of Securities in accordance with the
provisions of Section 301, any interest on any Registered Security of any series that is payable,
but is not punctually paid or duly provided for, on any Interest Payment Date (herein called
“Defaulted Interest”) shall forthwith cease to be payable to the registered Holder thereof
on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted
Interest may be paid by the Issuer or the Guarantor, at its election in each case, as provided in
clause (1) or (2) below:

     (1) The Issuer or the Guarantor may elect to make payment of any Defaulted Interest to
the Persons in whose names the Registered Securities of such series (or their respective
Predecessor Securities) are registered at the close of business on a Special Record Date for
the payment of such Defaulted Interest, which shall be fixed in the following manner. The
Issuer or the Guarantor shall notify the Trustee in writing of the amount of Defaulted
Interest proposed to be paid on each Registered Security of such series and the date of the
proposed payment (which shall not be less than 20 days after such notice is received by the
Trustee), and at the same time the Issuer or the Guarantor
shall deposit with the Trustee an amount of money in the Currency in which the
Securities of such series are payable (except as otherwise specified pursuant to Section 301
for the Securities of such series and except, if applicable, as provided in Sections 312(b),
312(d) and 312(e)) equal to the aggregate amount proposed to be paid in respect of such
Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit
on or prior to the date of the proposed payment, such money when deposited to be held in
trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause
provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such
Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to
the date of the proposed payment and not less than 10 days after the receipt by the Trustee
of the notice of the proposed payment. The Trustee shall promptly notify the Issuer or the
Guarantor of such Special Record Date and, in the name and at the expense of the Issuer or
the Guarantor, shall cause notice of the proposed payment of such Defaulted Interest and the
Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of
Registered Securities of such series at his address as it appears in the Security Register
not less than 10 days prior to such Special Record Date. Notice of the proposed payment of
such Defaulted Interest and the Special Record Date therefor having been mailed as
aforesaid, such Defaulted Interest shall be paid to the Persons in whose names the
Registered Securities of such series (or their respective Predecessor

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Securities) are
registered at the close of business on such Special Record Date and shall no longer be
payable pursuant to the following clause (2).

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

          (b) The provisions of this Section 307(b) may be made applicable to any series of Securities
pursuant to Section 301 (with such modifications, additions or substitutions as may be specified
pursuant to Section 301). The interest rate (or the spread or spread multiplier used to calculate
such interest rate, if applicable) on any Security of such series may be reset by the Issuer or the
Guarantor on the date or dates specified on the face of such Security (each an “Optional Reset
Date”). The Issuer or the Guarantor may exercise such option with respect to such Security by
notifying the Trustee of such exercise at least 45 but not more than 60 days prior to an Optional
Reset Date for such Security. Not later than 40 days prior to each Optional Reset Date, the
Trustee shall transmit, in the manner provided for in Section 106, to the Holder of any such
Security a notice (the “Reset Notice”) indicating whether the Issuer or the Guarantor, as
the case may be, has elected to reset the interest rate (or the spread or spread multiplier used to
calculate such interest rate, if applicable), and if so (i) such new interest rate (or such new
spread or spread multiplier, if applicable) and (ii) the provisions, if any, for redemption during
the period from such Optional Reset Date to the next Optional Reset Date or, if there is no such
next Optional Reset Date, to the Stated Maturity Date of such Security (each such period a
“Subsequent Interest Period”), including the date or dates on which or the period or
periods during which and the price or prices at which such redemption may occur during the
Subsequent Interest Period.

          Notwithstanding the foregoing, not later than 20 days prior to the Optional Reset Date, the
Issuer or the Guarantor, as the case may be, may, at its option, revoke the interest rate (or the
spread or spread multiplier used to calculate such interest rate, if applicable) provided for in
the Reset Notice and establish an interest rate (or a spread or spread multiplier used to calculate
such interest rate, if applicable) that is higher than the interest rate (or the spread or spread
multiplier, if applicable) provided for in the Reset Notice, for the Subsequent Interest Period by
causing the Trustee to transmit, in the manner provided for in Section 106, notice of such higher
interest rate (or such higher spread or spread multiplier, if applicable) to the Holder of such
Security. Such notice shall be irrevocable. All Securities with respect to which the interest
rate (or the spread or spread multiplier used to calculate such interest rate, if applicable) is
reset on an Optional Reset Date, and with respect to which the Holders of such Securities have not
tendered such Securities for repayment (or have validly revoked any such tender) pursuant to the
next succeeding paragraph, will bear such higher interest rate (or such higher spread or spread
multiplier, if applicable).

          The Holder of any such Security will have the option to elect repayment by the Issuer or the
Guarantor of the principal of such Security on each Optional Reset Date at a price equal to the
principal amount thereof plus interest accrued to such Optional Reset Date. In order

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to obtain
repayment on an Optional Reset Date, the Holder must follow the procedures set forth in Article
Thirteen for repayment at the option of Holders except that the period for delivery or
notification to the Trustee shall be at least 35 days prior to such Optional Reset Date and except
that, if the Holder has tendered any Security for repayment pursuant to the Reset Notice, the
Holder may, by written notice to the Trustee, revoke such tender or repayment until the close of
business on the tenth day before such Optional Reset Date.

          Subject to the foregoing provisions of this Section and Section 305, each Security delivered
under this Indenture upon registration of transfer of or in exchange for or in lieu of any other
Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried
by such other Security.

          SECTION 308. Optional Extension of Maturity. The provisions of this Section 308 may be made
applicable to any series of Securities pursuant to Section 301 (with such modifications, additions
or substitutions as may be specified pursuant to such Section 301). The Stated Maturity of any
Security of such series may be extended at the option of the Issuer or the Guarantor for the period
or periods specified on the face of such Security (each an “Extension Period”) up to but
not beyond the date (the “Final Maturity”) set forth on the face of such Security. The
Issuer or the Guarantor may exercise such option with respect to any Security by notifying the
Trustee of such exercise at least 45 but not more than 60 days prior to the Stated Maturity of such
Security in effect prior to the exercise of such option (the “Original Stated Maturity”).
If the Issuer or the Guarantor exercises such option, the Trustee shall transmit, in the manner
provided for in Section 106, to the Holder of such Security not later than 40 days prior to the
Original Stated Maturity a notice (the “Extension Notice”) indicating (i) the election of
the Issuer or the Guarantor to extend the Stated Maturity, (ii) the new Stated Maturity, (iii) the
interest rate, if any, applicable to the Extension Period and (iv) the provisions, if any, for
redemption during such Extension Period. Upon the Trustee’s transmittal of the Extension Notice,
the Stated Maturity of such Security shall be extended automatically
and, except as modified by the Extension Notice and as described in the next paragraph, such
Security will have the same terms as prior to the transmittal of such Extension Notice.

          Notwithstanding the foregoing, not later than 20 days before the Original Stated Maturity of
such Security, the Issuer or the Guarantor may, at its option, revoke the interest rate provided
for in the Extension Notice and establish a higher interest rate for the Extension Period by
causing the Trustee to transmit, in the manner provided for in Section 106, notice of such higher
interest rate to the Holder of such Security. Such notice shall be irrevocable. All Securities
with respect to which the Stated Maturity is extended will bear such higher interest rate.

          If the Issuer or the Guarantor extends the Stated Maturity of any Security, the Holder will
have the option to elect repayment of such Security by the Issuer or the Guarantor on the Original
Stated Maturity at a price equal to the principal amount thereof, plus interest accrued to such
date. In order to obtain repayment on the Original Stated Maturity once the Issuer or the
Guarantor has extended the Stated Maturity thereof, the Holder must follow the procedures set forth
in Article Thirteen for repayment at the option of Holders, except that the period for delivery or
notification to the Trustee shall be at least 35 days prior to the Original Stated Maturity and
except that, if the Holder has tendered any Security for repayment pursuant to an

30

 

Extension Notice,
the Holder may by written notice to the Trustee revoke such tender for repayment until the close of
business on the tenth day before the Original Stated Maturity.

          SECTION 309. Persons Deemed Owners. Prior to due presentment of a Registered Security for
registration of transfer, the Issuer, the Guarantor, the Trustee and any agent of the Issuer, the
Guarantor or the Trustee may treat the Person in whose name such Registered Security is registered
as the owner of such Security for the purpose of receiving payment of principal of (and premium, if
any) and (subject to Sections 305 and 307) interest, if any, on such Registered Security and for
all other purposes whatsoever, whether or not such Registered Security be overdue, and neither the
Issuer, the Guarantor, the Trustee nor any agent of the Issuer, the Guarantor or the Trustee shall
be affected by notice to the contrary.

          None of the Issuer, the Guarantor, the Trustee, any Paying Agent or the Security Registrar
will have any responsibility or liability for any aspect of the records relating to or payments
made on account of beneficial ownership interests of a Security in global form or for maintaining,
supervising or reviewing any records relating to such beneficial ownership interests.

          Notwithstanding the foregoing, with respect to any global Security, nothing herein shall
prevent the Issuer, the Guarantor, the Trustee, or any agent of the Issuer, the Guarantor or the
Trustee, from giving effect to any written certification, proxy or other authorization furnished by
any depositary, as a Holder, with respect to such global Security or impair, as between such
depositary and owners of beneficial interests in such global Security, the operation of customary
practices governing the exercise of the rights of such depositary (or its nominee) as Holder of
such global Security.

          SECTION 310. Cancellation. All Securities surrendered for payment, conversion, redemption, repayment, registration of
transfer or exchange shall, if surrendered to any Person other than the Trustee, be delivered to
the Trustee, and any such Securities surrendered directly to the Trustee for any such purpose shall
be promptly cancelled by it. If the Issuer or the Guarantor shall acquire any of the Securities,
such acquisition shall not operate as a redemption, repurchase or satisfaction of the indebtedness
represented by such Securities unless and until the same are delivered to the Trustee for
cancellation. The Issuer or the Guarantor may at any time deliver to the Trustee for cancellation
any Securities previously authenticated and delivered hereunder which the Issuer or the Guarantor
may have acquired in any manner whatsoever, and may deliver to the Trustee (or to any other Person
for delivery to the Trustee) for cancellation any Securities previously authenticated hereunder
which the Issuer or the Guarantor has not issued and sold, and all Securities so delivered shall be
promptly cancelled by the Trustee. All Securities surrendered for the purpose of payment,
redemption, repurchase, conversion, exchange or registration of transfer shall, if surrendered to
the Issuer or the Guarantor or any paying agent or any Securities registrar or any conversion
agent, be surrendered to the Trustee and promptly canceled by it, or, if surrendered to the
Trustee, shall be promptly canceled by it, and no Securities shall be issued in lieu thereof except
as expressly permitted by any of the provisions of this Indenture. The Trustee shall dispose of
such canceled Securities in accordance with its customary procedures.

          SECTION 311. Computation of Interest. Except as otherwise specified as contemplated by Section 301
with respect to Securities of any series, interest, if any, on the

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Securities of each series shall
be computed on the basis of a 360-day year consisting of twelve 30-day months.

          SECTION 312. Currency and Manner of Payments in Respect of Securities. (a)  Unless otherwise
specified with respect to any Securities pursuant to Section 301, with respect to Registered
Securities of any series not permitting the election provided for in paragraph (b) below or the
Holders of which have not made the election provided for in paragraph (b) below, payment of the
principal of (and premium, if any) and interest, if any, on any Registered Security of such series
will be made in the Currency in which such Registered Security is payable. The provisions of this
Section 312 may be modified or superseded with respect to any Securities pursuant to Section 301.

          (b) It may be provided pursuant to Section 301 with respect to Registered Securities of any
series that Holders shall have the option, subject to paragraphs (d) and (e) below, to receive
payments of principal of (or premium, if any) or interest, if any, on such Registered Securities in
any of the Currencies which may be designated for such election by delivering to the Trustee for
such series of Registered Securities a written election, with signature guarantees and in the
applicable form established pursuant to Section 301, not later than the close of business on the
Election Date immediately preceding the applicable payment date. If a Holder so elects to receive
such payments in any such Currency, such election will remain in effect for such Holder or any
transferee of such Holder until changed by such Holder or such transferee by written notice to the
Trustee for such series of Registered Securities (but any such change must be made not later than
the close of business on the Election Date immediately preceding the next payment date to be
effective for the payment to be made on such
payment date and no such change of election may be made with respect to payments to be made on
any Registered Security of such series with respect to which an Event of Default has occurred or
with respect to which the Issuer or the Guarantor has deposited funds pursuant to Article Four or
Fourteen or with respect to which a notice of redemption has been given by the Issuer or the
Guarantor or a notice of option to elect repayment has been sent by such Holder or such
transferee). Any Holder of any such Registered Security who shall not have delivered any such
election to the Trustee of such series of Registered Securities not later than the close of
business on the applicable Election Date will be paid the amount due on the applicable payment
date in the relevant Currency as provided in Section 312(a). The Trustee for each such series of
Registered Securities shall notify the Exchange Rate Agent as soon as practicable after the
Election Date of the aggregate principal amount of Registered Securities for which Holders have
made such written election.

          (c) Unless otherwise specified pursuant to Section 301, if the election referred to in
paragraph (b) above has been provided for pursuant to Section 301, then, unless otherwise specified
pursuant to Section 301, not later than the fourth Business Day after the Election Date for each
payment date for Registered Securities of any series, the Exchange Rate Agent will deliver to the
Issuer or the Guarantor a written notice specifying the Currency in which Registered Securities of
such series are payable, the respective aggregate amounts of principal of (and premium, if any) and
interest, if any, on the Registered Securities to be paid on such payment date, specifying the
amounts in such Currency so payable in respect of the Registered Securities as to which the Holders
of Registered Securities denominated in any Currency shall have elected to be paid in another
Currency as provided in paragraph (b) above. If the election

32

 

referred to in paragraph (b) above
has been provided for pursuant to Section 301 and if at least one Holder has made such election,
then, unless otherwise specified pursuant to Section 301, on the second Business Day preceding such
payment date the Issuer will deliver to the Trustee for such series of Registered Securities an
Exchange Rate Officer’s Certificate in respect of the Dollar or Foreign Currency or Currencies
payments to be made on such payment date. Unless otherwise specified pursuant to Section 301, the
Dollar or Foreign Currency or Currencies amount receivable by Holders of Registered Securities who
have elected payment in a Currency as provided in paragraph (b) above shall be determined by the
Issuer on the basis of the applicable Market Exchange Rate in effect on the second Business Day
(the “Valuation Date”) immediately preceding each payment date, and such determination
shall be conclusive and binding for all purposes, absent manifest error.

          (d) If a Conversion Event occurs with respect to a Foreign Currency in which any of the
Securities are denominated or payable other than pursuant to an election provided for pursuant to
paragraph (b) above, then with respect to each date for the payment of principal of (and premium,
if any) and interest, if any on the applicable Securities denominated or payable in such Foreign
Currency occurring after the last date on which such Foreign Currency was used (the “Conversion
Date”), the Dollar shall be the currency of payment for use on each such payment date. Unless
otherwise specified pursuant to Section 301, the Dollar amount to be paid by the Issuer or the
Guarantor to the Trustee of each such series of Securities and by such Trustee or any Paying Agent
to the Holders of such Securities with respect to such payment date shall be, in the case of a
Foreign Currency other than a currency unit, the Dollar Equivalent of the Foreign Currency or, in
the case of a currency unit, the Dollar Equivalent of the Currency
Unit, in each case as determined by the Exchange Rate Agent in the manner provided in
paragraph (f) or (g) below.

          (e) Unless otherwise specified pursuant to Section 301, if the Holder of a Registered Security
denominated in any Currency shall have elected to be paid in another Currency as provided in
paragraph (b) above, and a Conversion Event occurs with respect to such elected Currency, such
Holder shall receive payment in the Currency in which payment would have been made in the absence
of such election; and if a Conversion Event occurs with respect to the Currency in which payment
would have been made in the absence of such election, such Holder shall receive payment in Dollars
as provided in paragraph (d) of this Section 312.

          (f) The “Dollar Equivalent of the Foreign Currency” shall be determined by the
Exchange Rate Agent and shall be obtained for each subsequent payment date by converting the
specified Foreign Currency into Dollars at the Market Exchange Rate on the Conversion Date.

          (g) The “Dollar Equivalent of the Currency Unit” shall be determined by the Exchange
Rate Agent and subject to the provisions of paragraph (h) below shall be the sum of each amount
obtained by converting the Specified Amount of each Component Currency into Dollars at the Market
Exchange Rate for such Component Currency on the Valuation Date with respect to each payment.

          (h) For purposes of this Section 312, the following terms shall have the following meanings:

33

 

     A “Component Currency” shall mean any Currency which, on the Conversion Date,
was a component currency of the relevant currency unit.

     A “Specified Amount” of a Component Currency shall mean the number of units of
such Component Currency or fractions thereof which were represented in the relevant currency
unit on the Conversion Date. If after the Conversion Date the official unit of any
Component Currency is altered by way of combination or subdivision, the Specified Amount of
such Component Currency shall be divided or multiplied in the same proportion. If after the
Conversion Date two or more Component Currencies are consolidated into a single currency,
the respective Specified Amounts of such Component Currencies shall be replaced by an amount
in such single currency equal to the sum of the respective Specified Amounts of such
consolidated Component Currencies expressed in such single currency, and such amount shall
thereafter be a Specified Amount and such single currency shall thereafter be a Component
Currency. If after the Conversion Date any Component Currency shall be divided into two or
more currencies, the Specified Amount of such Component Currency shall be replaced by
amounts of such two or more currencies, having an aggregate Dollar Equivalent value at the
Market Exchange Rate on the date of such replacement equal to the Dollar Equivalent of the
Specified Amount of such former Component Currency at the Market Exchange Rate immediately
before such division, and such amounts shall thereafter be Specified Amounts and such
currencies shall thereafter be Component Currencies. If, after the Conversion Date of the
relevant currency unit, a Conversion Event (other than any event referred to above in this
definition of “Specified Amount”) occurs with respect to any Component Currency
of such currency unit and is continuing on the applicable Valuation Date, the Specified
Amount of such Component Currency shall, for purposes of calculating the Dollar Equivalent
of the Currency Unit, be converted into Dollars at the Market Exchange Rate in effect on the
Conversion Date of such Component Currency.

     “Election Date” shall mean the Regular Record Date for the applicable series of
Registered Securities or at least 16 days prior to Maturity, as the case may be, or such
other prior date for any series of Registered Securities as specified pursuant to clause
(13) of Section 301 by which the written election referred to in Section 312(b) may be made.

          All decisions and determinations of the Exchange Rate Agent regarding the Dollar Equivalent of
the Foreign Currency, the Dollar Equivalent of the Currency Unit, the Market Exchange Rate and
changes in the Specified Amounts as specified above shall be in its sole discretion and shall, in
the absence of manifest error, be conclusive for all purposes and irrevocably binding upon the
Issuer, the Guarantor, the Trustee for the appropriate series of Securities and all Holders of such
Securities denominated or payable in the relevant Currency. The Exchange Rate Agent shall promptly
give written notice to the Issuer, the Guarantor and the Trustee for the appropriate series of
Securities of any such decision or determination.

          In the event that the Issuer or the Guarantor determines in good faith that a Conversion Event
has occurred with respect to a Foreign Currency, the Issuer or the Guarantor will immediately give
written notice thereof to the Trustee of the appropriate series of Securities and to the Exchange
Rate Agent (and such Trustee will promptly thereafter give notice in the manner provided in Section
106 to the affected Holders) specifying the Conversion Date. In the

34

 

event the Issuer or the
Guarantor so determines that a Conversion Event has occurred with respect to any currency unit in
which Securities are denominated or payable, the Issuer or the Guarantor will immediately give
written notice thereof to the Trustee of the appropriate series of Securities and to the Exchange
Rate Agent (and such Trustee will promptly thereafter give notice in the manner provided in Section
106 to the affected Holders) specifying the Conversion Date and the Specified Amount of each
Component Currency on the Conversion Date. In the event the Issuer or the Guarantor determines in
good faith that any subsequent change in any Component Currency as set forth in the definition of
Specified Amount above has occurred, the Issuer or the Guarantor will similarly give written notice
to the Trustee of the appropriate series of Securities and to the Exchange Rate Agent.

          The Trustee of the appropriate series of Securities shall be fully justified and protected in
relying and acting upon information received by it from the Issuer or the Guarantor and the
Exchange Rate Agent and shall not otherwise have any duty or obligation to determine the accuracy
or validity of such information independent of the Issuer, the Guarantor or the Exchange Rate
Agent.

          SECTION 313. Appointment and Resignation of Successor Exchange Rate Agent. (a)  Unless otherwise
specified pursuant to Section 301, if and so long as the Securities of any series (i) are
denominated in a Foreign Currency or (ii) may be payable in a Foreign Currency, or
so long as it is required under any other provision of this Indenture, then the Issuer or the
Guarantor will maintain with respect to each such series of Securities, or as so required, at least
one Exchange Rate Agent. The Issuer or the Guarantor will cause the Exchange Rate Agent to make
the necessary foreign exchange determinations at the time and in the manner specified pursuant to
Section 301 for the purpose of determining the applicable rate of exchange and, if applicable, for
the purpose of converting the issued Foreign Currency into the applicable payment Currency for the
payment of principal (and premium, if any) and interest, if any, pursuant to Section 312.

          (b) No resignation of the Exchange Rate Agent and no appointment of a successor Exchange Rate
Agent pursuant to this Section shall become effective until the acceptance of appointment by the
successor Exchange Rate Agent as evidenced by a written instrument delivered to the Issuer or the
Guarantor and the Trustee of the appropriate series of Securities accepting such appointment
executed by the successor Exchange Rate Agent.

          (c) If the Exchange Rate Agent shall resign, be removed or become incapable of acting, or if a
vacancy shall occur in the office of the Exchange Rate Agent for any cause, with respect to the
Securities of one or more series, the Issuer or the Guarantor, by or pursuant to a Board
Resolution, shall promptly appoint a successor Exchange Rate Agent or Exchange Rate Agents with
respect to the Securities of that or those series (it being understood that any such successor
Exchange Rate Agent may be appointed with respect to the Securities of one or more or all of such
series and that, unless otherwise specified pursuant to Section 301, at any time there shall only
be one Exchange Rate Agent with respect to the Securities of any particular series that are
originally issued by the Issuer or the Guarantor on the same date and that are initially
denominated and/or payable in the same Currency).

35

 

          SECTION 314. CUSIP Numbers. The Issuer in issuing the Securities may use “CUSIP” numbers (if then
generally in use), and, if so, the Trustee shall indicate the “CUSIP” numbers of the Securities in
notices of redemption as a convenience to Holders; provided that any such notice may state
that no representation is made as to the correctness of such numbers either as printed on the
Securities or as contained in any notice of redemption and that reliance may be placed only on the
other identification numbers printed on the Securities, and any such redemption shall not be
affected by any defect in or omission of such numbers. The Issuer or the Guarantor shall promptly
notify the Trustee of any change in “CUSIP” numbers.

ARTICLE FOUR

SATISFACTION AND DISCHARGE

          SECTION 401. Satisfaction and Discharge of Indenture. This Indenture shall upon Issuer Request
cease to be of further effect with respect to any series of Securities specified in such Issuer
Request or Guarantor Request (except as to any surviving rights of registration of transfer or
exchange of Securities of such series expressly provided for herein or pursuant hereto and any
right to receive Additional Amounts, as provided in Section
1004), and the Trustee, upon receipt of a Issuer Order or Guarantor Order, and at the expense of
the Issuer or the Guarantor, shall execute proper instruments acknowledging satisfaction and
discharge of this Indenture as to such series, in addition to such other circumstances as specified
or as contemplated by Section 301 or Article 14, when:

     (1) either:

     (A) all Securities of such series theretofore authenticated and delivered
(other than) (i) Securities of such series which have been destroyed, lost or stolen
and which have been replaced or paid as provided in Section 306, and (ii) Securities
of such series for whose payment money has theretofore been deposited in trust or
segregated and held in trust by the Issuer or the Guarantor and thereafter repaid to
the Issuer or the Guarantor or discharged from such trust, as provided in Section
1003) have been delivered to the Trustee for cancellation; or

     (B) all Securities of such series:

     (i) have become due and payable, or

     (ii) will become due and payable at their Stated Maturity within one
year, or

     (iii) if redeemable at the option of the Issuer or the Guarantor, are
to be called for redemption within one year under arrangements satisfactory
to the Trustee for the giving of notice of redemption by the Trustee in the
name, and at the expense, of the Issuer or the Guarantor,

and the Issuer or the Guarantor, in the case of (i), (ii) or (iii) above, has
deposited or caused to be deposited with the Trustee as trust funds in

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trust for such purpose an amount in the Currency in which the Securities of such
series are payable, sufficient to pay and discharge the entire indebtedness on such
Securities not theretofore delivered to the Trustee for cancellation, for principal
(and premium, if any) and interest, if any, to the date of such deposit (in the case
of Securities which have become due and payable) or to the Stated Maturity or
Redemption Date, as the case may be;

     (2) the Issuer or the Guarantor has paid or caused to be paid all other sums payable
hereunder by the Issuer or the Guarantor; and

     (3) the Issuer or the Guarantor has delivered to the Trustee an Officers’ Certificate
and an Opinion of Counsel, each stating that all conditions precedent herein provided for
relating to the satisfaction and discharge of this Indenture as to such series have been
complied with.

Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Issuer or
the Guarantor to the Trustee, any Security Registrar and any Paying Agent and any predecessor
Trustee, any Security Registrar and any Paying Agent under Section 606, the obligations of the
Issuer or the Guarantor to any Authenticating Agent under Section 611 and, if money shall have been
deposited with the Trustee pursuant to subclause (B) of clause (1) of this Section, the obligations
of the Trustee under Section 402 and the last paragraph of Section 1003 shall survive such
satisfaction and discharge.

          SECTION 402. Application of Trust Funds. Subject to the provisions of the last paragraph of
Section 1003, all money deposited with the Trustee pursuant to Section 401 shall be held in trust
and applied by it, in accordance with the provisions of the Securities and this Indenture, to the
payment, either directly or through any Paying Agent (including the Issuer or the Guarantor acting
as its own Paying Agent) as the Trustee may determine, to the Persons entitled thereto, of the
principal (and premium, if any) and interest, if any, for whose payment such money has been
deposited with or received by the Trustee, but such money need not be segregated from other funds
except to the extent required by law.

ARTICLE FIVE

REMEDIES

          SECTION 501. Events of Default. “Event of Default”, wherever used herein with respect to
any particular series of Securities, including any Guarantees unless otherwise specified with
respect to a series of Securities pursuant to Section 301, means any one of the following events
(whatever the reason for such Event of Default, whether or not it shall be voluntary or involuntary
or be effected by operation of law or pursuant to any judgment, decree or order of any court or any
order, rule or regulation of any administrative or governmental body):

     (1) default in the payment of any interest upon any Security of that series, when such
interest becomes due and payable, and continuance of such default for a period of 30 days;
or

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     (2) default in the payment of the principal of (or premium, if any, on) any Security of
that series when it becomes due and payable at its Maturity; or

     (3) default in the deposit of any sinking fund payment, when and as due by the terms of
any Security of that series; or

     (4) default in the performance, or breach, of any covenant or agreement of the Issuer
or the Guarantor in this Indenture with respect to any Security including any Guarantees of
that series (other than a covenant or agreement a default in whose performance or whose
breach is elsewhere in this Section specifically dealt with), and continuance of such
default or breach for a period of 60 days after there has been given, by registered or
certified mail, to the Issuer or the Guarantor by the Trustee or to the Issuer or the
Guarantor and the Trustee by the Holders of at least 25% in principal amount of the
Outstanding Securities of that series a written notice specifying such
default or breach and requiring it to be remedied and stating that such notice
is a “Notice of Default” hereunder; or

     (5) the Issuer or the Guarantor pursuant to or within the meaning of any Bankruptcy
Law:

     (A) commences a voluntary case,

     (B) consents to the entry of an order for relief against it in an involuntary
case,

     (C) consents to the appointment of a Custodian of it or for all or
substantially all of its property, or

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

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

     (A) is for relief against the Issuer or the Guarantor in an involuntary case,

     (B) appoints a Custodian of the Issuer or the Guarantor or for all or
substantially all of its property, or

     (C) orders the liquidation of the Issuer or the Guarantor,

and the order or decree remains unstayed and in effect for 90 days.

The term “Bankruptcy Law” means title 11, U.S. Code or any similar Federal or State law or
foreign law for the relief of debtors. The term “Custodian” means any receiver, trustee,
assignee, liquidator or other similar official under any Bankruptcy Law.

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          SECTION 502. Acceleration of Maturity; Rescission and Annulment. If an Event of Default with
respect to Securities of any series at the time Outstanding occurs and is continuing, then and in
every such case the Trustee or the Holders of not less than 25% in principal amount of the
Outstanding Securities of that series may declare the principal (or, if any Securities are Original
Issue Discount Securities or Indexed Securities, such portion of the principal as may be specified
in the terms thereof) of all the Securities of that series and the accrued and unpaid interest
thereon to be due and payable immediately, by a notice in writing to the Issuer or the Guarantor
(and to the Trustee if given by the Holders), and upon any such declaration such principal or
specified portion thereof and the accrued and unpaid interest thereon shall become immediately due
and payable. If an Event of Default specified in clause (5) or (6) of Section 501 occurs, then the
principal of all Securities of every series and the accrued and unpaid interest thereon shall be immediately and automatically due and payable without
necessity of further action. The Issuer or the Guarantor shall notify a Responsible Officer of the
Trustee, promptly upon becoming aware thereof, of any Event of Default.

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

     (1) the Issuer or the Guarantor has paid or deposited with the Trustee a sum sufficient
to pay in the Currency in which the Securities of such series are payable (except as
otherwise specified pursuant to Section 301 for the Securities of such series and except, if
applicable, as provided in Sections 312(b), 312(d) and 312(e)):

     (A) all overdue installments of interest, if any, on all Outstanding Securities
of that series;

     (B) the principal of (and premium, if any, on) all Outstanding Securities of
that series which have become due otherwise than by such declaration of acceleration
and interest thereon at the rate or rates borne by or provided for in such
Securities;

     (C) to the extent that payment of such interest is lawful, interest upon
overdue installments of interest at the rate or rates borne by or provided for in
such Securities; and

     (D) all sums paid or advanced by the Trustee hereunder and the reasonable
compensation, expenses, disbursements and advances of the Trustee, their agents and
counsel, and any other amounts due to the Trustee, any Security Registrar and any
Paying Agent under Section 606; and

     (2) all Events of Default with respect to Securities of that series, other than the
nonpayment of the principal of (or premium, if any) or interest on Securities of that series
which have become due solely by such declaration of acceleration, have been cured or waived
as provided in Section 513.

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

          SECTION 503. Collection of Indebtedness and Suits for Enforcement by Trustee. The Issuer covenants
that if:

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

     (2) default is made in the payment of the principal of (or premium, if any, on) any
Security of any series at its Maturity,

then the Issuer will, upon demand of the Trustee, pay to the Trustee, for the benefit of the
Holders of Securities of such series the whole amount then due and payable on such Securities for
principal (and premium, if any) and interest, if any, with interest upon any overdue principal (and
premium, if any) and, to the extent that payment of such interest shall be legally enforceable,
upon any overdue installments of interest, if any, at the rate or rates borne by or provided for in
such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the
costs and expenses of collection, including the reasonable
compensation, and documented expenses, disbursements
and advances of the Trustee, any Security Registrar and any Paying Agent, their agents and counsel,
and any other amounts due to the Trustee, any Security Registrar and any Paying Agent under Section
606.

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

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

          SECTION 504. Trustee May File Proofs of Claim. In case of the pendency of any receivership,
insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other
judicial proceeding relative to the Issuer or any other obligor upon the Securities or the property
of the Issuer or of such other obligor or their creditors, the Trustee (irrespective of whether the
principal of the Securities of any series shall then be due and payable as therein expressed or by
declaration or otherwise and irrespective of whether the Trustee shall have made any demand on the
Issuer for the payment of any overdue principal, premium or interest) shall be entitled and
empowered, by intervention in such proceeding or otherwise:

     (i) to file and prove a claim for the whole amount of principal (or in the case of
Original Issue Discount Securities or Indexed Securities, such portion of the principal as
may be provided in the terms thereof) (and premium, if any) and interest, if any, owing and
unpaid in respect of the Securities and to file such other papers or documents as may be
necessary or advisable in order to have the claims of the Trustee (including any claim for
amounts due to the Trustee, any Securities Registrar or any Paying Agent under Section 606) and of the Holders allowed in such judicial
proceeding, and

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     (ii) to collect and receive any moneys or other property payable or deliverable on any
such claims and to distribute the same;

and any custodian, receiver, assignee, trustee, liquidator, sequestrator (or other similar
official) in any such judicial proceeding is hereby authorized by each Holder of Securities of such
series to make such payments to the Trustee, and in the event that the Trustee shall consent to the
making of such payments directly to the Holders, to pay to the Trustee any amount due to it for the
reasonable compensation, and documented expenses, disbursements and advances of the Trustee, any Security
Registrar and any Paying Agent and any predecessor Trustee, any Security Registrar and any Paying
Agent, their agents and counsel, and any other amounts due the Trustee or any predecessor Trustee
under Section 606.

          Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to
or accept or adopt on behalf of any Holder of a Security any plan of reorganization, arrangement,
adjustment or composition affecting the Securities or the rights of any Holder thereof, or to
authorize the Trustee to vote in respect of the claim of any Holder of a Security in any such
proceeding.

          SECTION 505. Trustee May Enforce Claims Without Possession of Securities . All rights of action
and claims under this Indenture or any of the Securities or the Guarantees may be prosecuted and
enforced by the Trustee without the possession of any of the Securities or the Guarantees or the
production thereof in any proceeding relating thereto, and any such proceeding instituted by the
Trustee shall be brought in its own name as trustee of an express trust, and any recovery of
judgment shall, after provision for the payment of the reasonable
compensation, and documented expenses,
disbursements and advances of the Trustee, any Security Registrar and any Paying Agent, their
agents and counsel, be for the ratable benefit of the Holders of the Securities in respect of which
such judgment has been recovered.

          SECTION 506. Application of Money Collected. Any money collected by the Trustee pursuant to this
Article shall be applied in the following order, at the date or dates fixed by the Trustee and, in
case of the distribution of such money on account of principal (or premium, if any) or interest, if
any, upon presentation of the Securities and the notation thereon of the payment if only partially
paid and upon surrender thereof if fully paid:

     FIRST: To the payment of all amounts due the Trustee, any Security Registrar and any
Paying Agent and any predecessor Trustee, any Security Registrar and any Paying Agent under
Section 606;

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

     THIRD: To the payment of the remainder, if any, to the Issuer or any other Person or
Persons entitled thereto.

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          SECTION 507. Limitation on Suits. No Holder of any Security of any series shall have any right to
institute any proceeding, judicial or otherwise, with respect to this Indenture, or for the
appointment of a receiver or trustee, or for any other remedy hereunder, unless:

     (1) such Holder has previously given written notice to the Trustee of a continuing
Event of Default with respect to the Securities of that series;

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

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

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

     (5) no direction inconsistent with such written request has been given to the Trustee
during such 60-day period by the Holders of a majority in principal amount of the
Outstanding Securities of that series;

it being understood and intended that no one or more of such Holders shall have any right in any
manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb
or prejudice the rights of any other of such Holders, or to obtain or to seek to obtain priority or
preference over any other of such Holders or to enforce any right under this Indenture, except in
the manner herein provided and for the equal and ratable benefit of all such Holders.

          SECTION 508. Unconditional Right of Holders to Receive Principal, Premium and Interest.
Notwithstanding any other provision in this Indenture, the Holder of any Security shall have the
right which is absolute and unconditional to receive payment of the principal of (and premium, if
any) and (subject to Sections 305 and 307) interest, if any, on such Security on the respective due
dates expressed in such Security (or, in the case of redemption, on the Redemption Date) and to
institute suit for the enforcement of any such payment, and such rights shall not be impaired
without the consent of such Holder.

          SECTION 509. Restoration of Rights and Remedies. If the Trustee or any Holder of a Security has
instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding
has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee
or to such Holder, then and in every such case the Issuer, the Trustee and the Holders of
Securities shall, subject to any determination in such proceeding, be restored severally and
respectively to their former positions hereunder and thereafter all rights and remedies of the
Trustee and the Holders shall continue as though no such proceeding had been instituted.

          SECTION 510. Rights and Remedies Cumulative. Except as otherwise provided with respect to the
replacement or payment of mutilated, destroyed, lost or stolen Securities in the last paragraph of
Section 306, no right or remedy herein conferred upon or

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reserved to the Trustee or to the Holders of Securities is intended to be exclusive of any other right or remedy, and every right and remedy
shall, to the extent permitted by law, be cumulative and in addition to every other right and
remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The
assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the
concurrent assertion or employment of any other appropriate right or remedy.

          SECTION 511. Delay or Omission Not Waiver. No delay or omission of the Trustee or of any Holder of
any Security to exercise any right or remedy accruing upon any Event of Default shall impair any
such right or remedy or constitute a waiver of any such Event of Default or an acquiescence
therein. Every right and remedy given by this Article or by law to the Trustee or to the Holders may be exercised from time to time, and as often as may be deemed
expedient, by the Trustee or by the Holders of Securities, as the case may be.

          SECTION 512. Control by Holders of Securities. The Holders of a majority in principal amount of
the Outstanding Securities of any series shall have the right to direct the time, method and place
of conducting any proceeding for any remedy available to the Trustee or exercising any trust or
power conferred on the Trustee with respect to the Securities of such series, provided that

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

     (2) the Trustee may take any other action deemed proper by the Trustee which is not
inconsistent with such direction, and

     (3) the Trustee need not take any action if the Trustee in good faith shall determine
that the act so directed might involve it in personal liability or be unjustly prejudicial
to the Holders of Securities of such series not consenting.

          SECTION 513. Waiver of Past Defaults. Subject to Section 502, the Holders of not less than a
majority in principal amount of the Outstanding Securities of any series may on behalf of the
Holders of all the Securities of such series waive any past default hereunder with respect to such
series and its consequences, except a default

     (1) in the payment of the principal of (or premium, if any) or interest, if any, on any
Security of such series, or

     (2) in respect of a covenant or provision hereof which under Article Nine cannot be
modified or amended without the consent of the Holder of each Outstanding Security of such
series affected.

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

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          SECTION 514. Waiver of Stay or Extension Laws. The Issuer and the Guarantor covenant (to the
extent that they may lawfully do so) that they will not at any time insist upon, or plead, or in
any manner whatsoever claim or take the benefit or advantage of, any stay or extension law wherever
enacted, now or at any time hereafter in force, which may affect the covenants or the performance
of this Indenture; and the Issuer and the Guarantor (to the extent that they may lawfully do so)
hereby expressly waive all benefit or advantage of any such law, and covenant that they will not
hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer
and permit the execution of every such power as though no such law had been enacted.

ARTICLE SIX

THE TRUSTEE

          SECTION 601. Notice of Defaults. Within 90 days after the occurrence of any Default hereunder with
respect to the Securities of any series, the Trustee shall transmit in the manner and to the extent
provided in TIA Section 313(c), notice of such Default hereunder known to the Trustee, unless such
Default shall have been cured or waived; provided, however, that, except in the
case of a Default in the payment of the principal of (or premium, if any) or interest, if any, on
any Security of such series, or in the payment of any sinking or purchase fund installment with
respect to the Securities of such series, the Trustee shall be protected in withholding such notice
if and so long as a Responsible Officer of the Trustee in good faith determines that the
withholding of such notice is in the interests of the Holders of the Securities; and
provided further that in the case of any Default or breach of the character
specified in Section 501(4) with respect to the Securities, no such notice to Holders shall be
given until at least 60 days after the occurrence thereof.

          SECTION 602. Certain Rights of Trustee. Subject to the provisions of TIA Section 315(a) through
315(d):

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

     (2) Any request or direction of the Issuer or the Guarantor mentioned herein shall be
sufficiently evidenced by an Issuer Request or Issuer Order or Guarantor Request or
Guarantor Order, as the case may be, (other than delivery of any Security to the Trustee for
authentication and delivery pursuant to Section 303 which shall be sufficiently evidenced as
provided therein) and any resolution of the Board of Directors may be sufficiently evidenced
by a Board Resolution.

     (3) Whenever in the administration of this Indenture the Trustee shall deem it
desirable that a matter be proved or established prior to taking, suffering or omitting any
action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may,
in the absence of bad faith on its part, rely upon a Board Resolution, an Opinion of Counsel or an Officers’ Certificate.

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

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

     (6) The Trustee shall not be bound to make any investigation into the facts or matters
stated in any resolution, certificate, statement, instrument, opinion, report, notice,
request, direction, consent, order, bond, debenture, note, coupon or other paper or
document, but the Trustee, in its discretion, may make such further inquiry or investigation
into such facts or matters as it may see fit, and, if the Trustee shall determine to make
such further inquiry or investigation, it shall be entitled to examine the books, records
and premises of the Issuer, personally or by agent or attorney.

     (7) The Trustee may execute any of the trusts or powers hereunder or perform any duties
hereunder either directly or by or through agents or attorneys and the Trustee shall not be
responsible for any misconduct or negligence on the part of any agent or attorney appointed
with due care by it hereunder; provided however that the Trustee shall be required to
terminate any such agent or attorney if it has knowledge of any misconduct or negligence on
the part of the such agent or attorney in the performance of its duties.

     (8) The Trustee shall not be charged with knowledge of any Default or Event of Default
with respect to the Securities of any series unless either (1) such Default or Event of
Default is known, or ought reasonably to have been known, by a Responsible Officer of the
Trustee or (2) written notice of such Default of Event of Default shall have been given to
the Trustee by the Issuer or any other obligor on the Securities of any series or by any
Holder of the Securities of any series.

     (9)   The Trustee shall not be
liable for any action taken, suffered or omitted by it in good faith and believed by it to be authorized or within the discretion or rights or powers
conferred upon it by this Indenture, unless it shall be determined by a court of competent jurisdiction that the Trustee was negligent in ascertaining
the pertinent facts.

          The Trustee shall not be required to expend or risk its own funds or otherwise incur any
financial liability in the performance of any of its duties hereunder, or in the exercise of any of
its rights or powers, if it shall have reasonable grounds for believing that repayment of such
funds or adequate indemnity against such risk or liability is not reasonably assured to it.

          SECTION 603. Not Responsible for Recitals or Issuance of Securities. The recitals contained herein
and in the Securities, except the Trustee’s certificate of authentication, shall be taken as the
statements of the Issuer and the Guarantor, as the case may be, and neither the Trustee nor any
Authenticating Agent assumes any responsibility for their correctness. The Trustee makes no
representations as to the validity or sufficiency of this Indenture or of the Securities and the
Guarantees, except that the Trustee represents that it is duly authorized to execute and deliver
this Indenture, authenticate the Securities and the Guarantees and perform its obligations
hereunder and that the statements made by it in a Statement of Eligibility on Form T-1 supplied to
the Issuer are true and accurate, subject to the qualifications set forth therein.

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Neither the Trustee nor any Authenticating Agent shall be accountable for the use or application by the Issuer
of Securities and the Guarantees or the proceeds thereof.

          SECTION 604. May Hold Securities. The Trustee, any Paying Agent, Security Registrar,
Authenticating Agent or any other agent of the Issuer and the Guarantor, in its individual or any
other capacity, may become the owner or pledgee of Securities and, subject to TIA Sections 310(b)
and 311, may otherwise deal with the Issuer and the Guarantor with the
same rights it would have if it were not Trustee, Paying Agent, Security Registrar, Authenticating
Agent or such other agent.

          SECTION 605. Money Held in Trust. Money held by the Trustee in trust hereunder need not be
segregated from other funds except to the extent required by law. The Trustee shall be under no
liability for interest on any money received by it hereunder except as otherwise agreed in writing
with the Issuer.

          SECTION 606. Compensation and Reimbursement. The Issuer and the Guarantor agree:

     (1) To pay to the Trustee from time to time such compensation for all services rendered
by it hereunder as the Issuer and the Guarantor and the Trustee shall from time to time
agree in writing (which compensation shall not be limited by any provision of law in regard
to the compensation of a trustee of an express trust).

     (2) Except as otherwise expressly provided herein, to reimburse the Trustee upon its
request for all reasonable and documented expenses, disbursements and advances incurred or
made by the Trustee, any Security Registrar and any Paying Agent in accordance with any
provision of this Indenture, including in enforcing their rights under the Guarantee, (including reasonable compensation and the documented expenses,
advances and disbursements of their agents and counsel), except any such expense,
disbursement or advance as may be attributable to their negligence, willful misconduct or
bad faith.

     (3) To indemnify each of the Trustee, any Security Registrar and any Paying Agent, and
their respective officers, directors, employees and agents and any predecessor Trustee for,
and to hold them harmless against, any loss, liability or expense incurred without
negligence, willful misconduct or bad faith on their own part, arising out of or in
connection with the acceptance or administration of the trust or trusts hereunder, including
the reasonable and documented costs and expenses of defending themselves against any claim
or liability in connection with the exercise or performance of any of their powers or duties
hereunder.

          As security for the performance of the obligations of the Issuer and the Guarantor under this
Section, the Trustee for the Securities of any series shall have a claim prior to the Securities of
such series upon all property and funds held or collected by the Trustee as such, except funds held
in trust for the payment of principal of (or premium, if any) or interest, if any, on Securities of
such series.

          In no event shall the Trustee, any Security Registrar and any Paying Agent be liable for any
indirect, special or consequential loss or damage of any kind whatsoever,

46

 

including,
but not limited to, lost profits, even if they have been advised of the likelihood of such loss or damage
and regardless of the form of action.

          In no event shall the Trustee, any Security Registrar and any Paying Agent be liable for any
failure or delay in the performance of its obligations hereunder because of circumstances beyond
their control, including, but not limited to, acts of God, flood, war (whether declared or
undeclared), terrorism, nuclear or natural catastrophes, fire, riot,
embargo, government action (including any laws,
ordinances, regulations) which delay, restrict or prohibit the
providing of the services contemplated by this Agreement.

          The parties hereto acknowledge that in accordance with Section 326
of the USA Patriot Act, Deutsche Bank Trust Company Americas, like all financial institutions and
in order to help fight the funding of terrorism and money laundering, is required to obtain, verify
and record information that identifies each person or legal entity that establishes a relationship
or opens an account. The parties to this Indenture agree that they will provide
Deutsche Bank Trust Company Americas with such information as it may request in order for Deutsche
Bank Trust Company Americas to satisfy the requirements of the USA Patriot Act.

          The provisions of this Section 606 shall survive the resignation or removal of the Trustee,
any Security Registrar and any Paying Agent and the termination of this Indenture.

          SECTION 607. Corporate Trustee Required; Eligibility. There shall at all times be a Trustee
hereunder which shall be eligible to act as Trustee under TIA Section 310(a)(1), has its Corporate
Trust Office in the United States and shall have a combined capital and surplus of at least
$75,000,000. If such corporation publishes reports of condition at least annually,
pursuant to law or the requirements of Federal, State, Territorial or District of Columbia
supervising or examining authority, then for the purposes of this Section, the combined capital and
surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in
its most recent report of condition so published. If at any time the Trustee shall cease to be
eligible in accordance with the provisions of this Section, it shall resign immediately in the
manner and with the effect hereinafter specified in this Article.

          SECTION 608. Resignation and Removal; Appointment of Successor. (a) No resignation or removal of
the Trustee and no appointment of a successor Trustee pursuant to this Article shall become
effective until the acceptance of appointment by the successor Trustee in accordance with the
applicable requirements of Section 609.

          (b) The Trustee may resign at any time with respect to the Securities of one or more series by
giving 45 days’ prior written notice thereof to the Issuer.

          (c) The Trustee may be removed at any time with respect to the Securities of any series by Act
of the Holders of a majority in principal amount of the Outstanding Securities of such series
delivered to the Trustee and to the Issuer or the Guarantor.

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          (d) If at any time:

     (1) the Trustee shall fail to comply with the provisions of TIA Section 310(b) after
written request therefor by the Issuer or the Guarantor or by any Holder of a Security who
has been a bona fide Holder of a Security for at least six months, or

     (2) the Trustee shall cease to be eligible under Section 607 and shall fail to resign
after written request therefor by the Issuer or the Guarantor or by any Holder of a Security
who has been a bona fide Holder of a Security for at least six months, or

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

then, in any such case, (i) the Issuer or the Guarantor by or pursuant to a Board Resolution may
remove the Trustee and appoint a successor Trustee with respect to all Securities, or (ii) subject
to TIA Section 315(e), any Holder of a Security who has been a bona fide Holder of a Security for
at least six months may, on behalf of himself and all others similarly situated, petition any court
of competent jurisdiction for the removal of the Trustee with respect to all Securities and the
appointment of a successor Trustee or Trustees.

          (e) If an instrument of acceptance by a successor Trustee shall not have been delivered to the
Trustee within 45 days after the giving of a notice of resignation or the delivery of an Act
of removal, the Trustee resigning or being removed may petition any court of competent jurisdiction
for the appointment of a successor Trustee.

          (f) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy
shall occur in the office of Trustee for any cause with respect to the Securities of one or more
series, the Issuer or the Guarantor, by or pursuant to a Board Resolution, shall promptly appoint a
successor Trustee or Trustees with respect to the Securities of that or those series (it being
understood that any such successor Trustee may be appointed with respect to the Securities of one
or more or all of such series and that at any time there shall be only one Trustee with respect to
the Securities of any particular series). If, within one year after such resignation, removal or
incapability, or the occurrence of such vacancy, a successor Trustee with respect to the Securities
of any series shall be appointed by Act of the Holders of a majority in principal amount of the
Outstanding Securities of such series delivered to the Issuer or the Guarantor and the retiring
Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such
appointment, become the successor Trustee with respect to the Securities of such series and to that
extent supersede the successor Trustee appointed by the Issuer or the Guarantor. If no successor
Trustee with respect to the Securities of any series shall have been so appointed by the Issuer or
the Guarantor or the Holders of Securities and accepted appointment in the manner hereinafter
provided, any Holder of a Security who has been a bona fide Holder of a Security of such series for
at least six months may, on behalf of himself and all others similarly situated, petition any court
of competent jurisdiction for the appointment of a successor Trustee with respect to Securities of
such series.

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          (g) The Issuer or the Guarantor shall give notice of each resignation and each removal of the
Trustee with respect to the Securities of any series and each appointment of a successor Trustee
with respect to the Securities of any series in the manner provided for notices to the Holders of
Securities in Section 106. Each notice shall include the name of the successor Trustee with
respect to the Securities of such series and the address of its Corporate Trust Office.

          SECTION 609. Acceptance of Appointment by Successor. (a) In case of the appointment hereunder of
a successor Trustee with respect to all Securities, every such successor Trustee shall execute,
acknowledge and deliver to the Issuer or the Guarantor and to the retiring Trustee an instrument
accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall
become effective and such successor Trustee, without any further act, deed or conveyance, shall
become vested with all the rights, powers, trusts and duties of the retiring Trustee; but, on
request of the Issuer or the successor Trustee, such retiring Trustee shall, upon payment of its
charges, execute and deliver an instrument transferring to such successor Trustee all the rights,
powers and trusts of the retiring Trustee, and shall duly assign, transfer and deliver to such
successor Trustee all property and money held by such retiring Trustee hereunder, subject
nevertheless to its claim, if any, provided for in Section 606.

          (b) In case of the appointment hereunder of a successor Trustee with respect to the Securities
of one or more (but not all) series, the Issuer, the Guarantor, the retiring Trustee and each
successor Trustee with respect to the Securities of one or more series shall execute and deliver an
indenture supplemental hereto wherein each successor Trustee shall accept such appointment and
which (1) shall contain such provisions as shall be necessary or desirable to transfer and confirm
to, and to vest in, each successor Trustee all the rights, powers, trusts and duties of the
retiring Trustee with respect to the Securities of that or those series to which the appointment of
such successor Trustee relates, (2) if the retiring Trustee is not retiring with respect to all
Securities, shall contain such provisions as shall be deemed necessary or desirable to confirm that
all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of
that or those series as to which the retiring Trustee is not retiring shall continue to be vested
in the retiring Trustee, and (3) shall add to or change any of the provisions of this Indenture as
shall be necessary to provide for or facilitate the administration of the trusts hereunder by more
than one Trustee, it being understood that nothing herein or in such supplemental indenture shall
constitute such Trustees co-trustees of the same trust and that each such Trustee shall be trustee
of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered
by any other such Trustee; and upon the execution and delivery of such supplemental indenture the
resignation or removal of the retiring Trustee shall become effective to the extent provided
therein and each such successor Trustee, without any further act, deed or conveyance, shall become
vested with all the rights, powers, trusts and duties of the retiring Trustee with respect to the
Securities of that or those series to which the appointment of such successor Trustee relates; but,
on request of the Issuer or any successor Trustee, such retiring Trustee shall duly assign,
transfer and deliver to such successor Trustee all property and money held by such retiring Trustee
hereunder with respect to the Securities of that or those series to which the appointment of such
successor Trustee relates, subject to the lien, if any, provided by Section 606.

          (c) Upon request of any such successor Trustee, the Issuer shall execute any and all
instruments for more fully and certainly vesting in and confirming to such successor

49

 

Trustee all such rights, powers and trusts referred to in paragraph (a) or (b) of this Section, as the case may
be.

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

          SECTION 610. Merger, Conversion, Consolidation or Succession to Business. Any corporation into
which the Trustee may be merged or converted or with which it may be consolidated, or any
corporation resulting from any merger, conversion or consolidation to which the Trustee shall be a
party, or any corporation succeeding to all or substantially all of the corporate trust business of
the Trustee, shall be the successor of the Trustee hereunder, provided such corporation
shall be otherwise qualified and eligible under this Article, without the execution or filing of
any paper or any further act on the part of any of the parties hereto. In case any Securities
shall have been authenticated, but not delivered, by the Trustee then in office, any successor by
merger, conversion or consolidation to such authenticating Trustee may adopt such authentication
and deliver the Securities so authenticated with the same effect as if such successor Trustee had
itself authenticated such Securities. In case any Securities shall not have been authenticated by
such predecessor Trustee, any such successor Trustee may authenticate and deliver such Securities,
in either its own name or that of its predecessor Trustee, with the full force and effect which
this Indenture provides for the certificate of authentication of the Trustee.

          SECTION 611. Appointment of Authenticating Agent. At any time when any of the Securities remain
Outstanding, the Trustee may appoint an Authenticating Agent or Authenticating Agents with respect
to one or more series of Securities which shall be authorized to act on behalf of the Trustee to
authenticate Securities of such series issued upon exchange, registration of transfer or partial
redemption thereof, and Securities so authenticated shall be entitled to the benefits of this
Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee
hereunder. Any such appointment shall be evidenced by an instrument in writing signed by a
Responsible Officer of the Trustee, a copy of which instrument shall be promptly furnished to the
Issuer. Wherever reference is made in this Indenture to the authentication and delivery of
Securities by the Trustee or the Trustee’s certificate of authentication, such reference shall be
deemed to include authentication and delivery on behalf of the Trustee by an Authenticating Agent
and a certificate of authentication executed on behalf of the Trustee by an Authenticating Agent.
Each Authenticating Agent shall be acceptable to the Issuer and, except as may otherwise be
provided pursuant to Section 301, shall at all times be a bank or trust company or corporation
organized and doing business and in good standing under the laws of the United States, authorized
under such laws to act as Authenticating Agent, having a combined capital and surplus of not less
than $75,000,000 and subject to supervision or examination by Federal or State
authorities. If such Authenticating Agent publishes reports of condition at least annually,
pursuant to law or the requirements of the aforesaid supervising or examining authority, then for
the purposes of this Section, the combined capital and surplus of such Authenticating Agent shall
be deemed to be its combined capital and surplus as set forth in its most recent report of
condition so published. In case at any time an Authenticating Agent shall cease to be eligible in
accordance with the provisions of this Section, such Authenticating Agent shall resign immediately
in the manner and with the effect specified in this Section.

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

          An Authenticating Agent for any series of Securities may at any time resign by giving written
notice of resignation to the Trustee for such series and to the Issuer or the Guarantor. The
Trustee for any series of Securities may at any time terminate the agency of an Authenticating
Agent by giving written notice of termination to such Authenticating Agent and to the Issuer or the
Guarantor. Upon receiving such a notice of resignation or upon such a termination, or in case at
any time such Authenticating Agent shall cease to be eligible in accordance with the provisions of
this Section, the Trustee for such series may appoint a successor Authenticating Agent which shall
be acceptable to the Issuer or the Guarantor and shall give notice of such appointment to all
Holders of Securities of the series with respect to which such Authenticating Agent will serve in
the manner set forth in Section 106. Any successor Authenticating Agent upon acceptance of its
appointment hereunder shall become vested with all the rights, powers and duties of its predecessor
hereunder, with like effect as if originally named as an Authenticating Agent herein. No successor
Authenticating Agent shall be appointed unless eligible under the provisions of this Section.

          The Issuer agrees to pay to each Authenticating Agent from time to time reasonable
compensation for its services under this Section.

          If an appointment of any Authenticating Agent with respect to one or more series is made
pursuant to this Section, the Securities of such series may have endorsed thereon, in addition to
or in lieu of the Trustee’s certificate of authentication, an alternate certificate of
authentication substantially in the following form:

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

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	DEUTSCHE BANK TRUST COMPANY AMERICAS,	 
	 	 	 	 	 	 	        as Trustee	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	as Authenticating Agent	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Dated:

	 	 	 	 	 	By:	 	 	 	 
	 

	 	 
	 	 	 	 
	 	 	 	 
	 

	 	 	 	 	 	 	 	Authorized Signatory	 	 

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ARTICLE SEVEN

HOLDERS’ LISTS AND REPORTS BY TRUSTEE, ISSUER AND GUARANTOR

          SECTION 701. Disclosure of Names and Addresses of Holders. Every Holder of Securities, by
receiving and holding the same, agrees with the Issuer, the Guarantor and the Trustee that neither
the Issuer nor the Guarantor nor the Trustee nor any Authenticating Agent
nor any Paying Agent nor any Security Registrar shall be held accountable by reason of the
disclosure of any information as to the names and addresses of the Holders of Securities in
accordance with TIA Section 312, regardless of the source from which such information was derived,
and that the Trustee shall not be held accountable by reason of mailing any material pursuant to a
request made under TIA Section 312(b).

          SECTION 702. Reports by Trustee. Within 60 days after February 1 of each year commencing with the
first February 1 after the first issuance of Securities pursuant to this Indenture, the Trustee
shall transmit by mail to all Holders of Securities as provided in TIA Section 313(c) a brief
report dated as of such February 1 if required by TIA Section 313(a).

          A copy of each such report shall, at the time of such transmission to Holders, be filed by the
Trustee with each stock exchange, if any, upon which the Securities are listed, with the Commission
and with the Issuer and the Guarantor. The Issuer will promptly notify the Trustee of the listing
of the Securities on any stock exchange.

          SECTION 703. Reports by Issuer and the Guarantor. The Issuer and the Guarantor will:

     (1) file with the Trustee, within 15 days after the Issuer and the Guarantor are
required to file the same with the Commission, copies of the annual reports and of the
information, documents, and other reports (or copies of such portions of any of the
foregoing as the Commission may from time to time by rules and regulations prescribe) which
the Issuer and the Guarantor may be required to file with the Commission pursuant to Section
13 or Section 15(d) of the Securities Exchange Act of 1934; or, if the Issuer and the
Guarantor are not required to file information, documents or reports pursuant to either of
such Sections, then it will file with the Trustee and the Commission, in accordance with
rules and regulations prescribed from time to time by the Commission, such of the
supplementary and periodic information, documents and reports which may be required pursuant
to Section 13 of the Securities Exchange Act of 1934 in respect of a security listed and
registered on a national securities exchange as may be prescribed from time to time in such
rules and regulations;

     (2) file with the Trustee and the Commission, in accordance with rules and regulations
prescribed from time to time by the Commission, such additional information, documents and
reports with respect to compliance by the Issuer and the Guarantor with the conditions and
covenants of this Indenture as may be required from time to time by such rules and
regulations;

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     (3) comply with all other provisions of TIA Section 314(a); and

     (4) comply with the provisions of Section 1005 hereof.

          SECTION 704. Calculation of Original Issue Discount. With respect to any Original Issue Discount
Security issued pursuant to Section 301, if any, upon request of the Trustee, the Issuer and the
Guarantor shall file with the Trustee promptly at the end of each calendar year a written notice
specifying the amount of original issue discount (including daily rates and accrual periods), if
any, accrued on Outstanding Securities as of the end of such year.

ARTICLE EIGHT

CONSOLIDATION, MERGER, CONVEYANCE OR TRANSFER

          SECTION 801. Issuer and Guarantor May Consolidate, Etc., Only on Certain Terms. The Issuer and
the Guarantor shall not consolidate with or merge with or into any other Person or convey, transfer
or lease its properties and assets substantially as an entirety to any Person, unless:

     (1) either the Issuer or the Guarantor shall be the continuing corporation, or the
Person (if other than the Issuer or the Guarantor) formed by such consolidation or into
which the Issuer or the Guarantor is merged or the Person which acquires by conveyance,
transfer or lease the properties and assets of the Issuer and the Guarantor substantially as
an entirety is organized and existing under the laws of the United States, any state
thereof or the District of Columbia and shall expressly assume, by an indenture supplemental
hereto, executed and delivered to the Trustee, in form satisfactory to the Trustee, the due
and punctual payment of the principal of (and premium, if any) and interest, if any, on all
the Securities and the performance of every covenant and obligation of this Indenture and
the Securities on the part of the Issuer to be performed or observed;

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

     (3) the Issuer, the Guarantor or the successor Person (if other than the Issuer or the
Guarantor) has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel
each stating that such consolidation, merger, conveyance, transfer or lease and such
supplemental indenture comply with this Article and that all conditions precedent herein
provided for relating to such transaction have been complied with.

          SECTION 802. Successor Person Substituted. Upon any consolidation or merger, or any conveyance,
transfer or lease of the properties and assets of the Issuer and the Guarantor substantially as an
entirety in accordance with Section 801, the successor Person formed by such consolidation or into
which the Issuer or the Guarantor is merged or the successor Person to which such conveyance,
transfer or lease is made shall succeed to, and be substituted for, and may exercise every right
and power of, the Issuer or the Guarantor under this Indenture with the same effect as if such
successor had been named as the Issuer or the Guarantor herein; and in the event of any such
conveyance, transfer or lease, the Issuer shall be

53

 

discharged from all obligations and covenants
under this Indenture and the Securities and may be dissolved and liquidated.

ARTICLE NINE

SUPPLEMENTAL INDENTURES

          SECTION 901. Supplemental Indentures Without Consent of Holders. Without the consent of any
Holders of Securities, the Issuer and the Guarantor, when authorized by or pursuant to a Board
Resolution, and the Trustee, at any time and from time to time, may enter into one or more
indentures supplemental hereto, in form satisfactory to the Trustee, for any of the following
purposes:

     (1) to evidence the succession of another Person to the Issuer or the Guarantor and the
assumption by any such successor of the covenants of the Issuer or the Guarantor herein and
in the Securities contained; or

     (2) to add to the covenants of the Issuer or the Guarantor for the benefit of the
Holders of all or any series of Securities (and if such covenants are to be for the benefit
of less than all series of Securities, stating that such covenants are expressly being
included

solely for the benefit of such series) or to surrender any right or power herein
conferred upon the Issuer; or

     (3) to add any additional Events of Default for the benefit of the Holders of all or
any series of Securities (and if such Events of Default are to be for the benefit of less
than all series of Securities, stating that such Events of Default are expressly being
included solely for the benefit of such series); provided, however, that in
respect of any such additional Events of Default such supplemental indenture may provide for
a particular period of grace after default (which period may be shorter or longer than that
allowed in the case of other defaults) or may provide for an immediate enforcement upon such
default or may limit the remedies available to the Trustee upon such default or may limit
the right of the Holders of a majority in aggregate principal amount of that or those series
of Securities to which such additional Events of Default apply to waive such default; or

     (4) [Reserved.]

     (5) to add, change or eliminate any of the provisions of this Indenture in respect of
one or more series of Securities; provided that any such addition, change or
elimination (A) shall neither (i) apply to any Security of any series created prior to the
execution of such supplemental indenture nor (ii) modify the rights of any Holder or such
Security with respect to such provision or (B) become effective only when there is no
Security Outstanding of any series created prior to the execution of such supplemental
indenture which is entitled to the benefit of such provision; or

     (6) to establish the form or terms of Securities of any series as permitted by Sections
201 and 301, including the provisions and procedures relating to the relative

54

 

priority of
the Securities or relating to Securities convertible into or exchangeable for any securities
of any Person (including the Issuer and the Guarantor); or

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

     (8) to cure any ambiguity, to correct or supplement any provision herein which may be
inconsistent with any other provision herein, or to make any other provisions with respect
to matters or questions arising under this Indenture; provided that any such action
shall not, as evidenced by an Opinion of Counsel delivered to the Trustee, adversely affect
the interests of the Holders of Securities of any series in any material respect; or

     (9) to supplement any of the provisions of this Indenture to such extent as shall be
necessary to permit or facilitate the defeasance and discharge of any series of Securities
pursuant to Sections 401, 1402 and 1403; provided that any such action shall not, as
evidenced by an Opinion of Counsel delivered to the Trustee, adversely affect the
interests of the Holders of Securities of such series or any other series of Securities
in any material respect.

          SECTION 902. Supplemental Indentures with Consent of Holders. With the consent of the Holders of
not less than a majority in principal amount of all Outstanding Securities affected by such
supplemental indenture, by Act of said Holders delivered to the Issuer, the Guarantor and the
Trustee, the Issuer and the Guarantor, when authorized by or pursuant to a Board Resolution, and
the Trustee may enter into an indenture or indentures supplemental hereto for the purpose of adding
any provisions to or changing in any manner or eliminating any of the provisions of this Indenture
or of modifying in any manner the rights of the Holders of Securities under this Indenture;
provided, however, that no such supplemental indenture shall, without the consent
of the Holder of each Outstanding Security affected thereby:

     (1) change the Stated Maturity of the principal of (or premium, if any, on) or any
installment of principal of or interest on, any Security; or reduce the principal amount
thereof or the rate of interest thereon, or any premium payable upon the redemption thereof,
or change any obligation of the Issuer or the Guarantor to pay Additional Amounts pursuant
to Section 1004 (except as contemplated by Section 801(1) and permitted by Section 901(1)),
or reduce the portion of the principal of an Original Issue Discount Security or Indexed
Security that would be due and payable upon a declaration of acceleration of the Maturity
thereof pursuant to Section 502 or the amount thereof provable in bankruptcy pursuant to
Section 504, or adversely affect any right of repayment at the option of the Holder of any
Security, or change any Place of Payment where, or the Currency in which, any Security or
any premium or interest thereon is payable, or impair the right to institute suit for the
enforcement of any such payment on or after the Stated Maturity thereof (or, in the case of
redemption or repayment at the option of the Holder, on or after the Redemption Date or the
Repayment Date, as the case

55

 

     may be), or adversely affect any right to convert or exchange
any Security as may be provided pursuant to Section 301 herein; or

     (2) reduce the percentage in principal amount of the Outstanding Securities of any
series, the consent of whose Holders is required for any such supplemental indenture, or the
consent of whose Holders is required for any waiver with respect to such series (of
compliance with certain provisions of this Indenture or certain defaults hereunder and their
consequences) provided for in this Indenture, or reduce the requirements of Section 1504 for
quorum or voting; or

     (3) modify any of the provisions of this Section, Section 513 or Section 1006, except
to increase any such percentage or to provide that certain other provisions of this
Indenture cannot be modified or waived without the consent of the Holder of each Outstanding
Security affected thereby.

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

          A supplemental indenture which changes or eliminates any covenant or other provision of this
Indenture which has expressly been included solely for the benefit of one or more particular series
of Securities, or which modifies the rights of the Holders of Securities of such series with
respect to such covenant or other provision, shall be deemed not to affect the rights under this
Indenture of the Holders of Securities of any other series.

          The Issuer may, but shall not be obligated to, fix a record date for the purpose of
determining the Persons entitled to consent to any indenture supplemental hereto. If a record date
is fixed, the Holders on such record date, or their duly designated proxies, and only such Persons,
shall be entitled to consent to such supplemental indenture, whether or not such Holders remain
Holders after such record date; provided that unless such consent shall have become
effective by virtue of the requisite percentage having been obtained prior to the date which is 90
days after such record date, any such consent previously given shall automatically and without
further action by any Holder be cancelled and of no further effect.

          SECTION 903. Execution of Supplemental Indentures. In executing, or accepting the additional
trusts created by, any supplemental indenture permitted by this Article or the modification thereby
of the trusts created by this Indenture, the Trustee shall be entitled to receive, in addition to
any documents required by Section 102, and shall be fully protected in relying upon, an Opinion of
Counsel stating that the execution of such supplemental indenture is authorized or permitted by
this Indenture. The Trustee may, but shall not be obligated to, enter into any such supplemental
indenture which affects the Trustee’s own rights, duties or immunities under this Indenture or
otherwise.

          SECTION 904. Effect of Supplemental Indentures. Upon the execution of any supplemental indenture
under this Article, this Indenture shall be modified in accordance therewith, and such supplemental
indenture shall form a part of this Indenture for all purposes;

56

 

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

          SECTION 905. Conformity with Trust Indenture Act. Every supplemental indenture executed pursuant
to this Article shall conform to the requirements of the Trust Indenture Act as then in effect.

          SECTION 906. Reference in Securities to Supplemental Indentures. Securities of any series
authenticated and delivered after the execution of any supplemental indenture pursuant to this
Article may, and shall, if required by the Trustee, bear a notation in form approved by the Trustee
as to any matter provided for in such supplemental indenture. If the Issuer or the Guarantor shall
so determine, new Securities of any series so modified as to conform, in the opinion of the Trustee
and the Issuer or the Guarantor, to any such supplemental indenture may be prepared and executed by
the Issuer and authenticated and delivered by the Trustee in exchange for Outstanding Securities of
such series.

ARTICLE TEN

COVENANTS

          SECTION 1001. Payment of Principal, Premium and Interest. The Issuer covenants and agrees for the
benefit of the Holders of each series of Securities that it will duly and punctually pay the
principal of (and premium, if any) and interest, if any, on the Securities of that series in
accordance with the terms of such series of Securities and this Indenture. Unless otherwise
specified with respect to Securities of any series pursuant to Section 301, at the option of the
Issuer, all payments of principal may be paid by check to the registered Holder of the Registered
Security or other person entitled thereto against surrender of such Security.

          SECTION 1002. Maintenance of Office or Agency. The Issuer shall maintain in each Place of Payment
for any series of Securities an office or agency where Securities of that series may be presented
or surrendered for payment, where Securities of that series may be surrendered for registration of
transfer or exchange, where Securities of that series that are convertible or exchangeable may be
surrendered for conversion or exchange, as applicable, and where notices and demands to or upon the
Issuer in respect of the Securities of that series and this Indenture may be served. The Issuer
will give prompt written notice to the Trustee of the location, and any change in the location, of
each such office or agency. If at any time the Issuer shall fail to maintain any such required
office or agency or shall fail to furnish the Trustee with the address thereof, such presentations,
surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee
and the Issuer hereby appoints the same as its agent to receive such respective presentations,
surrenders, notices and demands, and the Issuer hereby appoints the Trustee its agent to receive
all such presentations, surrenders, notices and demands.

          The Issuer may from time to time designate one or more other offices or agencies where the
Securities of one or more series may be presented or surrendered for any or all of such purposes,
and may from time to time rescind such designations; provided, however, that no
such designation or rescission shall in any manner relieve the Issuer of its obligation to maintain
an office or agency in accordance with the requirements set forth above for Securities of any
series

57

 

for such purposes. The Issuer will give prompt written notice to the Trustee of any such
designation or rescission and of any change in the location of any such other office or agency.
Unless otherwise specified with respect to any Securities pursuant to Section 301 with respect to a
series of Securities, the Issuer hereby designates as Places of Payment for each series of
Securities New York, New York and initially appoints the Trustee at its Corporate Trust Office as
Paying Agent in such city and as its agent to receive all such presentations, surrenders, notices
and demands pertaining to Registered Securities.

          Unless otherwise specified with respect to any Securities pursuant to Section 301, if and so
long as the Securities of any series (i) are denominated in a currency other than Dollars or (ii)
may be payable in a currency other than Dollars, or so long as it is required under any
other provision of the Indenture, then the Issuer will maintain with respect to each such
series of Securities, or as so required, at least one Exchange Rate Agent.

          SECTION 1003. Money for Securities Payments to Be Held in Trust. If the Issuer or the Guarantor
shall at any time act as its own Paying Agent with respect to any series of any Securities, it
will, on or before each due date of the principal of (or premium, if any) or interest, if any, on
any of the Securities of that series, segregate and hold in trust for the benefit of the Persons
entitled thereto a sum in the Currency in which the Securities of such series are payable (except
as otherwise specified pursuant to Section 301 for the Securities of such series and except, if
applicable, as provided in Sections 312(b), 312(d) and 312(e)) sufficient to pay the principal of
(and premium, if any) and interest, if any, on Securities of such series so becoming due until such
sums shall be paid to such Persons or otherwise disposed of as herein provided, and will promptly
notify the Trustee of its action or failure so to act; provided that if such deposit is made on the
due date, such deposit shall be received by the Paying Agent by 10:00 a.m. New York City time, on
such date.

          Whenever the Issuer or the Guarantor shall have one or more Paying Agents for any series of
Securities, it will, on or before each due date of the principal of (or premium, if any) or
interest, if any, on any Securities of that series, deposit with a Paying Agent a sum (in the
Currency described in the preceding paragraph) sufficient to pay the principal (or premium, if any)
or interest, if any, so becoming due, such sum to be held in trust for the benefit of the Persons
entitled to such principal, premium or interest and (unless such Paying Agent is the Trustee) the
Issuer will promptly notify the Trustee of its action or failure so to act.

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

          Except as otherwise provided in the Securities of any series, any money deposited with the
Trustee or any Paying Agent, or then held by the Issuer or the Guarantor, in trust for the payment
of the principal of (or premium, if any) or interest, if any, on any Security of any series and
remaining unclaimed for two years after such principal, premium or interest has become due

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and
payable shall be paid to the Issuer or the Guarantor upon Issuer Request or Guarantor Request, as
the case may be, or (if then held by the Issuer or the Guarantor) shall be discharged from such
trust; and the Holder of such Security shall thereafter, as an unsecured general creditor, look
only to the Issuer for payment of such principal, premium or interest on any Security, without
interest thereon, and all liability of the Trustee or such Paying Agent with respect to such trust
money, and all liability of the Issuer or the Guarantor as trustee thereof, shall thereupon cease;
provided, however, that the Trustee or such Paying Agent, before being required to
make any such repayment, may at the expense of the Issuer or the Guarantor cause to be published
once, in an Authorized Newspaper, notice that such money remains unclaimed and that, after a date
specified therein, which shall not be less than 30 days from the date of such
publication, any unclaimed balance of such money then remaining will be repaid to the Issuer
or the Guarantor.

          SECTION 1004. Additional Amounts. If the Securities of a series provide for the payment of
Additional Amounts, the Issuer will pay to the Holder of a Security of such series Additional
Amounts as may be specified as contemplated by Section 301. Whenever in this Indenture there is
mentioned, in any context, the payment of the principal of (or premium, if any) or interest, if
any, on any Security of any series or the net proceeds received on the sale or exchange of any
Security of any series, such mention shall be deemed to include mention of the payment of
Additional Amounts provided by the terms of such series established pursuant to Section 301 to the
extent that, in such context, Additional Amounts are, were or would be payable in respect thereof
pursuant to such terms and express mention of the payment of Additional Amounts (if applicable) in
any provisions hereof shall not be construed as excluding Additional Amounts in those provisions
hereof where such express mention is not made.

          Except as otherwise specified as contemplated by Section 301, if the Securities of a series
provide for the payment of Additional Amounts, at least 10 days prior to the first Interest Payment
Date with respect to that series of Securities (or if the Securities of that series will not bear
interest prior to Maturity, the first day on which a payment of principal and any premium is
made), and at least 10 days prior to each date of payment of principal, premium or interest if
there has been any change with respect to the matters set forth in the below-mentioned Officers’
Certificate, the Issuer will furnish the Trustee and the Issuer’s principal Paying Agent or Paying
Agents, if other than the Trustee, with an Officers’ Certificate instructing the Trustee and such
Paying Agent or Paying Agents whether such payment of principal, premium or interest on the
Securities of that series shall be made to Holders of Securities of that series without withholding for or on account of any tax, assessment or other governmental
charge described in the Securities of the series. If any such withholding shall be required, then
such Officers’ Certificate shall specify by country the amount, if any, required to be withheld on
such payments to such Holders of Securities of that series and the Issuer will pay to the Trustee
or such Paying Agent the Additional Amounts required by the terms of such Securities. In the event
that the Trustee or any Paying Agent, as the case may be, shall not so receive the above-mentioned
certificate, then the Trustee or such Paying Agent shall be entitled (i) to assume that no such
withholding or deduction is required with respect to any payment of principal or interest with
respect to any Securities of a series until it shall have received a certificate advising otherwise
and (ii) to make all payments of principal and interest with respect to the Securities of a series
without withholding or deductions until otherwise advised. The Issuer covenants to indemnify the
Trustee and any Paying Agent for, and to hold them harmless

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against, any loss, liability or expense
reasonably incurred without negligence or bad faith on their part arising out of or in connection
with actions taken or omitted by any of them in reliance on any Officers’ Certificate furnished
pursuant to this Section or in reliance on the Issuer’s not furnishing such an Officers’
Certificate.

          SECTION 1005. Statement as to Compliance.
(a) The Issuer and the Guarantor will deliver to the Trustee, within 120 days after the end of
each fiscal year (beginning with the fiscal year ending on September 30, 2008), an Officers’
Certificate, stating whether or not, to the best knowledge of the signers thereof, the Issuer is in
default in the performance and observance of any of the terms, provisions and conditions of this
Indenture (without regard to any period of grace or requirement of notice provided hereunder) and,
if the Issuer shall be in default, specifying all such defaults and the nature and status thereof
known to the Officers signing such certificate.

          (b) The Issuer and the Guarantor will, so long as any of the Securities of any series are
Outstanding, deliver to the Trustee, as promptly as practicable upon an Officer of the Issuer
becoming aware of any default in the performance and observance of any of the terms, provisions and
conditions of this Indenture (without regard to any period of grace or requirement of notice
provided hereunder) or any Event of Default, an Officers’ Certificate specifying such default or
Event of Default and what action the Issuer is taking or proposes to take with respect thereto and
the status thereof.

          (c) Any notice required to be given under this Section 1005 shall be delivered to a
Responsible Officer of the Trustee at its Corporate Trust Office.

          SECTION 1006. Waiver of Certain Covenants. The Issuer and the Guarantor may omit in any
particular instance to comply with any term, provision or condition as specified pursuant to
Section 301(15) for Securities of any series, in any covenants of the Issuer and the Guarantor
added to Article Ten pursuant to Section 301(14) or Section 301(15) in connection with Securities
of a series, if before or after the time for such compliance the Holders of at least a majority in
principal amount of the Outstanding Securities of that series, by Act of such Holders, waive such
compliance in such instance or generally waive compliance with such term, provision or condition,
but no such waiver shall extend to or affect such term, provision or condition except to the extent
so expressly waived, and, until such waiver shall become effective, the obligations of the Issuer
and the Guarantor and the duties of the Trustee in respect of any such term, provision or condition
shall remain in full force and effect.

          SECTION 1007. Corporate Existence. Subject to Article Eight, the Issuer and the Guarantor will at
all times do or cause to be done all things necessary to preserve and keep in full force and effect
its corporate existence and its rights and franchises; provided that nothing in this Section 1007
shall prevent the abandonment or termination of any right or franchise of the Issuer or the
Guarantor if, in the opinion of the Issuer or the Guarantor, such abandonment or termination is in
the best interests of the Issuer or the Guarantor.

          SECTION 1008. Insurance.
The Issuer and the Guarantor covenant and agree that they will maintain, and cause each of its
subsidiaries to maintain, insurance with responsible and reputable insurance companies or
associations or through a program of self-insurance in

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such amounts and covering such risks as,
taken as a whole, are generally consistent with sound business practice for corporations engaged in
the same or a similar business similarly situated.

ARTICLE ELEVEN

REDEMPTION OF SECURITIES

          SECTION 1101. Applicability of Article. Securities of any series which are redeemable before
their Stated Maturity shall be redeemable in accordance with their terms and (except as otherwise
specified as contemplated by Section 301 for Securities of any series) in accordance with this
Article.

          SECTION 1102. Election to Redeem; Notice to Trustee. The election of the Issuer to redeem any
Securities shall be evidenced by or pursuant to a Board Resolution. In case of any redemption at
the election of the Issuer of less than all of the Securities of any series, the Issuer shall, at
least 35 days prior to the Redemption Date fixed by the Issuer (unless a shorter notice shall
be satisfactory to the Trustee), notify the Trustee in writing of such Redemption Date and of the
principal amount of Securities of such series to be redeemed. In the case of any redemption of
Securities prior to the expiration of any restriction on such redemption provided in the terms of
such Securities or elsewhere in this Indenture, the Issuer shall furnish the Trustee with an
Officers’ Certificate evidencing compliance with such restriction.

          SECTION 1103. Selection by Trustee of Securities to Be Redeemed. If less than all the Securities
of any series issued on the same day with the same terms are to be redeemed, the particular
Securities to be redeemed shall be selected not more than 60 days prior to the Redemption Date by
the Trustee, from the Outstanding Securities of such series issued on such date with the same terms
not previously called for redemption, by pro rata, lot or such other method as the Trustee shall
deem fair and appropriate and which may provide for the selection for redemption of portions (equal
to the minimum authorized denomination for Securities of that series or any integral multiple
thereof) of the principal amount of Securities of such series of a denomination larger than the
minimum authorized denomination for Securities of that series.

          The Trustee shall promptly notify the Issuer and the Security Registrar (if other than itself)
in writing of the Securities selected for redemption and, in the case of any Securities selected
for partial redemption, the principal amount thereof to be redeemed.

          For all purposes of this Indenture, unless the context otherwise requires, all provisions
relating to the redemption of Securities shall relate, in the case of any Security
redeemed or to be redeemed only in part, to the portion of the principal amount of such
Security which has been or is to be redeemed.

          SECTION 1104. Notice of Redemption. Notice of redemption shall be given in the manner provided in
Section 106, not less than 30 days nor more than 60 days prior to the Redemption Date, unless a
shorter period is specified by the terms of such series established pursuant to Section 301, to
each Holder of Securities to be redeemed, but failure to give such notice in the manner herein
provided to the Holder of any Security designated for redemption as

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a whole or in part, or any
defect in the notice to any such Holder, shall not affect the validity of the proceedings for the
redemption of any other such Security or portion thereof.

          Any notice that is mailed to the Holders of Registered Securities in the manner herein
provided shall be conclusively presumed to have been duly given, whether or not the Holder receives
the notice.

          All notices of redemption shall state:

     (1) the Redemption Date,

     (2) the Redemption Price and accrued interest, if any, to the Redemption Date payable
as provided in Section 1106,

     (3) if less than all Outstanding Securities of any series are to be redeemed, the
identification (and, in the case of partial redemption, the principal amount) of the
particular Security or Securities to be redeemed,

     (4) in case any Security is to be redeemed in part only, the notice which relates to
such Security shall state that on and after the Redemption Date, upon surrender of such
Security, the Holder will receive, without a charge, a new Security or Securities of
authorized denominations for the principal amount thereof remaining unredeemed,

     (5) that on the Redemption Date, the Redemption Price and accrued interest, if any, to
the Redemption Date payable as provided in Section 1106 will become due and payable upon
each such Security, or the portion thereof, to be redeemed and, if applicable, that interest
thereon shall cease to accrue on and after said date,

     (6) the Place or Places of Payment where such Securities, if any, maturing after the
Redemption Date, are to be surrendered for payment of the Redemption Price and accrued
interest, if any,

     (7) that the redemption is for a sinking fund, if such is the case, and

     (8) the CUSIP number of such Security, if any.

          Notice of redemption of Securities to be redeemed shall be given by the Issuer or, at the
Issuer’s request, by the Trustee in the name and at the expense of the Issuer.

          SECTION 1105. Deposit of Redemption Price. On or prior to 10:00 a.m., New York City time, on any
Redemption Date, the Issuer shall deposit with the Trustee or with a Paying Agent (or, if the
Issuer is acting as its own Paying Agent, which it may not do in the case of a sinking fund payment
under Article Twelve, segregate and hold in trust as provided in Section 1003) an amount of money
in the Currency in which the Securities of such series are payable (except as otherwise specified
pursuant to Section 301 for the Securities of such series and except, if applicable, as provided in
Sections 312(b), 312(d) and 312(e)) sufficient to pay on the Redemption Date the Redemption Price
of, and (except if the Redemption Date shall be an

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Interest Payment Date) accrued interest on, all
the Securities or portions thereof which are to be redeemed on that date.

          SECTION 1106. Securities Payable on Redemption Date. Notice of redemption having been given as
aforesaid, the Securities so to be redeemed shall, on the Redemption Date, become due and payable
at the Redemption Price therein specified in the Currency in which the Securities of such series
are payable (except as otherwise specified pursuant to Section 301 for the Securities of such
series and except, if applicable, as provided in Sections 312(b), 312(d) and 312(e)) (together
with accrued interest, if any, to the Redemption Date), and from and after such date (unless the
Issuer shall default in the payment of the Redemption Price and accrued interest, if any) such
Securities shall if the same were interest-bearing cease to bear interest. Upon surrender of any
such Security for redemption in accordance with said notice such Security shall be paid by the
Issuer at the Redemption Price, together with accrued interest, if any, to the Redemption Date;
provided, however, that installments of interest on Registered Securities whose
Stated Maturity is on or prior to the Redemption Date shall be payable to the Holders of such
Securities, or one or more Predecessor Securities, registered as such at the close of business on
the relevant Record Dates according to their terms and the provisions of Section 307.

          If any Security called for redemption shall not be so paid upon surrender thereof for
redemption, the Redemption Price shall, until paid, bear interest from the Redemption Date at the
rate of interest set forth in such Security or, in the case of an Original Issue Discount Security,
at the Yield to Maturity of such Security.

          SECTION 1107. Securities Redeemed in Part. Any Registered Security which is to be redeemed only
in part (pursuant to the provisions of this Article or of Article Twelve) shall be surrendered at a
Place of Payment therefor (with, if the Issuer or the Trustee so requires, due endorsement by, or a
written instrument of transfer in form satisfactory to the Issuer and the Trustee duly executed by,
the Holder thereof or his attorney duly authorized in writing) and the Issuer shall execute and the
Trustee shall authenticate and deliver to the Holder of such Security without service charge a new
Security or Securities of the same series, of any authorized denomination as requested by such
Holder in aggregate principal amount equal to and in exchange for the unredeemed portion of the
principal of the Security so surrendered. However, if less than all the Securities of any series
with differing issue dates, interest rates and stated maturities are to be redeemed, the Issuer in
its sole discretion shall select
the particular Securities to be redeemed and shall notify the Trustee in writing thereof at least
45 days prior to the relevant redemption date.

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ARTICLE TWELVE

SINKING FUNDS

          SECTION 1201. Applicability of Article. The provisions of this Article shall be applicable to any
sinking fund for the retirement of Securities of a series except as otherwise specified as
contemplated by Section 301 for Securities of such series.

          The minimum amount of any sinking fund payment provided for by the terms of Securities of any
series is herein referred to as a “mandatory sinking fund payment”, and any payment in
excess of such minimum amount provided for by the terms of such Securities of any series is herein
referred to as an “optional sinking fund payment”. If provided for by the terms of any
Securities of any series, the cash amount of any mandatory sinking fund payment may be subject to
reduction as provided in Section 1202. Each sinking fund payment shall be applied to the
redemption of Securities of any series as provided for by the terms of Securities of such series.

          SECTION 1202. Satisfaction of Sinking Fund Payments with Securities. The Issuer may, in
satisfaction of all or any part of any mandatory sinking fund payment with respect to the
Securities of a series, (1) deliver Outstanding Securities of such series (other than any
previously called for redemption) and (2) apply as a credit Securities of such series which have
been redeemed either at the election of the Issuer pursuant to the terms of such Securities or
through the application of permitted optional sinking fund payments pursuant to the terms of such
Securities, as provided for by the terms of such Securities; provided that such Securities
so delivered or applied as a credit have not been previously so credited. Such Securities shall be
received and credited for such purpose by the Trustee at the applicable Redemption Price specified
in such Securities for redemption through operation of the sinking fund and the amount of such
mandatory sinking fund payment shall be reduced accordingly.

          SECTION 1203. Redemption of Securities for Sinking Fund. Not less than 60 days prior to each
sinking fund payment date for Securities of any series, the Issuer will deliver to the Trustee an
Officers’ Certificate specifying the amount of the next ensuing mandatory sinking fund payment for
that series pursuant to the terms of that series, the portion thereof, if any, which is to be
satisfied by payment of cash in the Currency in which the Securities of such series are payable
(except as otherwise specified pursuant to Section 301 for the Securities of such series and
except, if applicable, as provided in Sections 312(b), 312(d) and 312(e)) and the portion thereof,
if any, which is to be satisfied by delivering and crediting Securities of that series pursuant to
Section 1202, and the optional amount, if any, to be added in cash to the next ensuing mandatory
sinking fund payment, and will also deliver to the Trustee any Securities to be so delivered and
credited. If such Officers’ Certificate shall specify an
optional amount to be added in cash to the next ensuing mandatory sinking fund payment, the Issuer
shall thereupon be obligated to pay the amount therein specified. Not less than 30 days before
each such sinking fund payment date the Trustee shall select the Securities to be redeemed upon
such sinking fund payment date in the manner specified in Section 1103 and cause notice of the
redemption thereof to be given in the name of and at the expense of the Issuer in the manner
provided in Section 1104. Such notice having been duly given, the redemption of

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such Securities
shall be made upon the terms and in the manner stated in Sections 1106 and 1107.

ARTICLE THIRTEEN

REPAYMENT AT THE OPTION OF HOLDERS

     SECTION 1301. Applicability of Article. Repayment of Securities of any series before their Stated
Maturity at the option of Holders thereof, if permitted pursuant to the terms of such Securities,
shall be made in accordance with the terms of such Securities and (except as otherwise specified
by the terms of such series established pursuant to Section 301) in accordance with this Article.

     SECTION 1302. Repayment of Securities. Securities of any series subject to repayment in whole or
in part at the option of the Holders thereof will, unless otherwise provided in the terms of such
Securities, be repaid at the Repayment Price thereof, together with interest, if any, thereon
accrued to the Repayment Date specified in or pursuant to the terms of such Securities. The Issuer
covenants that on or before the Repayment Date it will deposit with the Trustee or with a Paying
Agent (or, if the Issuer is acting as its own Paying Agent, segregate and hold in trust as provided
in Section 1003) an amount of money in the Currency in which the Securities of such series are
payable (except as otherwise specified pursuant to Section 301 for the Securities of such series
and except, if applicable, as provided in Sections 312(b), 312(d) and 312(e)) sufficient to pay the
Repayment Price of, and (except if the Repayment Date shall be an Interest Payment Date) accrued
interest on, all the Securities or portions thereof, as the case may be, to be repaid on such date.

     SECTION 1303. Exercise of Option. Securities of any series subject to repayment at the option of
the Holders thereof will contain an “Option to Elect Repayment” form on the reverse of such
Securities. To be repaid at the option of the Holder, any Security so providing for such
repayment, with the “Option to Elect Repayment” form on the reverse of such Security duly
completed by the Holder (or by the Holder’s attorney duly authorized in writing), must be received
by the Issuer at the Place of Payment therefore specified in the terms of such Security (or at such
other place or places of which the Issuer shall from time to time notify the Holders of such
Securities) not earlier than 45 days nor later than 30 days prior to the Repayment Date. If less
than the entire Repayment Price of such Security is to be repaid in accordance with the terms of
such Security, the portion of the Repayment Price of such Security to be repaid, in increments of
the minimum denomination for Securities of such series, and the denomination or denominations of
the Security or Securities to
be issued to the Holder for the portion of such Security surrendered that is not to be repaid, must
be specified. Any Security providing for repayment at the option of the Holder thereof may not be
repaid in part if, following such repayment, the unpaid principal amount of such Security would be
less than the minimum authorized denomination of Securities of the series of which such Security to
be repaid is a part. Except as otherwise may be provided by the terms of any Security providing
for repayment at the option of the Holder thereof, exercise of the repayment option by the Holder
shall be irrevocable unless waived by the Issuer.

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     SECTION 1304. When Securities Presented for Repayment Become Due and Payable. If Securities of any
series providing for repayment at the option of the Holders thereof shall have been surrendered as
provided in this Article and as provided by or pursuant to the terms of such Securities, such
Securities or the portions thereof, as the case may be, to be repaid shall become due and payable
and shall be paid by the Issuer on the Repayment Date therein specified, and on and after such
Repayment Date (unless the Issuer shall default in the payment of such Securities on such Repayment
Date) such Securities shall, if the same were interest-bearing, cease to bear interest. Upon
surrender of any such Security for repayment in accordance with such provisions, the Repayment
Price of such Security so to be repaid shall be paid by the Issuer, together with accrued interest,
if any, to the Repayment Date; provided, however, that, in the case of Registered
Securities, installments of interest, if any, whose Stated Maturity is on or prior to the Repayment
Date shall be payable (but without interest thereon, unless the Issuer shall default in the payment
thereof) to the Holders of such Securities, or one or more Predecessor Securities, registered as
such at the close of business on the relevant Record Dates according to their terms and the
provisions of Section 307.

     If any Security surrendered for repayment shall not be so repaid upon surrender thereof, the
Repayment Price shall, until paid, bear interest from the Repayment Date at the rate of interest
set forth in such Security or, in the case of an Original Issue Discount Security, at the Yield to
Maturity of such Security.

     SECTION 1305. Securities Repaid in Part. Upon surrender of any Registered Security which is to be
repaid in part only, the Issuer shall execute and the Trustee shall authenticate and deliver to the
Holder of such Security, without service charge and at the expense of the Issuer, a new Registered
Security or Securities of the same series, of any authorized denomination specified by the Holder,
in an aggregate principal amount equal to and in exchange for the portion of the principal of such
Security so surrendered which is not to be repaid.

ARTICLE FOURTEEN

LEGAL DEFEASANCE AND COVENANT DEFEASANCE

     SECTION 1401. Applicability of Article; Issuer’s Option to Effect Legal Defeasance or Covenant
Defeasance.

 If pursuant to Section 301 provision is made for either or both of (a) legal defeasance of the
Securities of a series under Section 1402 or (b) covenant defeasance of the Securities of a series
under Section 1403, then the provisions of such Section or Sections, as the case may be, together
with the other provisions of this Article (with such modifications thereto as may be specified
pursuant to Section 301 with respect to any Securities), shall be applicable to such Securities,
and the Issuer may at its option by Board Resolution, at any time, with respect to such Securities,
elect to have Section 1402 (if applicable) or Section 1403 (if applicable) be applied to such
Outstanding Securities upon compliance with the conditions set forth below in this Article.

     SECTION 1402. Defeasance and Discharge. Upon the Issuer’s exercise of the above option applicable
to this Section with respect to any Securities of a series, the Issuer shall be deemed to have been
discharged from its obligations with respect to such Outstanding Securities on the date the
conditions set forth in Section 1404 are satisfied (hereinafter, “legal

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defeasance”). For
this purpose, such legal defeasance means that the Issuer shall be deemed to have paid and
discharged the entire indebtedness represented by such Outstanding Securities, which shall
thereafter be deemed to be “Outstanding” only for the purposes of Section 1405 and the other
Sections of this Indenture referred to in clauses (A) and (B) of this Section, and to have
satisfied all its other obligations under such Securities and this Indenture insofar as such
Securities are concerned (and the Trustee, at the expense of the Issuer, shall execute proper
instruments acknowledging the same), except for the following which shall survive until otherwise
terminated or discharged hereunder: (A) the rights of Holders of such Outstanding Securities to
receive, solely from the trust fund described in Section 1404 and as more fully set forth in such
Section, payments in respect of the principal of (and premium, if any) and interest, if any, on
such Securities when such payments are due, (B) the Issuer’s obligations with respect to such
Securities under Sections 305, 306, 1002 and 1003 and with respect to the payment of Additional
Amounts, if any, on such Securities as contemplated by Section 1004, (C) the rights, powers,
trusts, duties and immunities of the Trustee hereunder and (D) this Article. Subject to compliance
with this Article Fourteen, the Issuer may exercise its option under this Section notwithstanding
the prior exercise of its option under Section 1403 with respect to such Securities.

          SECTION 1403. Covenant Defeasance. Upon the Issuer’s exercise of the above option applicable to
this Section, the Issuer shall be released from its obligations under any covenant specified with
respect to any Outstanding Securities of any series of Securities established pursuant to Section
301, on and after the date the conditions set forth in Section 1404 are satisfied (hereinafter,
“covenant defeasance”), and such Securities shall thereafter be deemed to be not
“Outstanding” for the purposes of any direction, waiver, consent or declaration or Act of Holders
(and the consequences of any thereof) in connection with any such covenant, but shall continue to
be deemed “Outstanding” for all other purposes hereunder. For this purpose, such covenant
defeasance means that, with respect to such Outstanding Securities, the Issuer may omit to comply
with and shall have no liability in respect of any term, condition or limitation set forth in any
such Section or such other covenant, whether directly or indirectly, by reason of any reference
elsewhere herein to any such Section or such other covenant or by reason of reference in any such
Section or such other covenant to any other provision herein or in any other document and such
omission to comply shall not constitute
a Default or an Event of Default under Section 501(4) or 501(7) or otherwise, as the case may be,
but, except as specified above, the remainder of this Indenture and such Securities shall be
unaffected thereby.

          SECTION 1404. Conditions to Legal Defeasance or Covenant Defeasance. The following shall be the
conditions to application of Section 1402 or Section 1403 to any Outstanding Securities of a
series:

     (a) The Issuer shall irrevocably have deposited or caused to be deposited with the
Trustee (or another trustee satisfying the requirements of Section 607 who shall agree to
comply with the provisions of this Article Fourteen applicable to it) as trust funds in
trust for the purpose of making the following payments, specifically pledged as security
for, and dedicated solely to, the benefit of the Holders of such Securities, (1) an amount
(in such Currency in which such Securities are then specified as payable at Stated
Maturity), or (2) Government Obligations applicable to such Securities (determined on the
basis of the Currency in which such Securities are then specified as payable at Stated

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Maturity) which through the scheduled payment of principal and interest in respect thereof
in accordance with their terms will provide, not later than one day before the due date of
any payment of principal of (and premium, if any) and interest, if any, on such Securities,
money in an amount, or (3) a combination thereof in an amount, and, in case of (1), (2) or
(3), sufficient, in the opinion of a nationally recognized firm of independent public
accountants expressed in a written certification thereof delivered to the Trustee, to pay
and discharge, and which shall be applied by the Trustee (or other qualifying trustee) to
pay and discharge, (i) the principal of (and premium, if any) and interest, if any, on such
Outstanding Securities on the Stated Maturity of such principal or installment of principal
or interest and (ii) any mandatory sinking fund payments or analogous payments applicable to
such Outstanding Securities on the day on which such payments are due and payable in
accordance with the terms of this Indenture and of such Securities.

     (b) Such legal defeasance or covenant defeasance shall not result in a breach or
violation of, or constitute a default under, this Indenture or any other material agreement
or instrument to which the Issuer is a party or by which it is bound.

     (c) No Default or Event of Default with respect to such Securities shall have occurred
and be continuing on the date of such deposit or, insofar as Sections 501(5) and 501(6) are
concerned, at any time during the period ending on the 91st day after the date of such
deposit (it being understood that this condition shall not be deemed satisfied until the
expiration of such period).

     (d) In the case of an election under Section 1402, the Issuer shall have delivered to
the Trustee an Opinion of Counsel stating that (i) the Issuer has received from, or there
has been published by, the Internal Revenue Service a ruling, or (ii) since the date of
execution of this Indenture, there has been a change in the applicable Federal income tax
law, in either case to the effect that, and based thereon such opinion shall confirm that,
the Holders of such Outstanding Securities will not recognize income, gain or loss for
Federal income tax purposes as a result of such legal defeasance and will be
subject to Federal income tax on the same amounts, in the same manner and at the same
times as would have been the case if such legal defeasance had not occurred.

     (e) In the case of an election under Section 1403, the Issuer shall have delivered to
the Trustee an Opinion of Counsel to the effect that the Holders of such Outstanding
Securities will not recognize income, gain or loss for Federal income tax purposes as a
result of such covenant defeasance and will be subject to Federal income tax on the same
amounts, in the same manner and at the same times as would have been the case if such
covenant defeasance had not occurred.

     (f) The Issuer shall have delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel, each stating that all conditions precedent to the legal defeasance under
Section 1402 or the covenant defeasance under Section 1403 (as the case may be) have been
complied with and an Opinion of Counsel to the effect that either (i) as a result of a
deposit pursuant to subsection (a) above and the related exercise of the Issuer’s option
under Section 1402 or Section 1403 (as the case may be), registration is not required under
the Investment Company Act of 1940, as amended, by the Issuer, with

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respect to the trust
funds representing such deposit or by the trustee for such trust funds or (ii) all necessary
registrations under said Act have been effected.

     (g) Notwithstanding any other provisions of this Section, such legal defeasance or
covenant defeasance shall be effected in compliance with any additional or substitute terms,
conditions or limitations which may be imposed on the Issuer in connection therewith
pursuant to Section 301.

          SECTION 1405. Deposited Money and Government Obligations to Be Held in Trust; Other Miscellaneous
Provisions. Subject to the provisions of the last paragraph of Section 1003, all money and
Government Obligations (or other property as may be provided pursuant to Section 301) (including
the proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively for
purposes of this Section 1405, the “Trustee”) pursuant to Section 1404 in respect of any
Outstanding Securities of any series shall be held in trust and applied by the Trustee, in
accordance with the provisions of such Securities and this Indenture, to the payment, either
directly or through any Paying Agent (including the Issuer acting as its own Paying Agent) as the
Trustee may determine, to the Holders of such Securities of all sums due and to become due thereon
in respect of principal (and premium, if any) and interest, if any, but such money need not be
segregated from other funds except to the extent required by law.

          Unless otherwise specified with respect to any Security pursuant to Section 301, if, after a
deposit referred to in Section 1404(a) has been made, (a) the Holder of a Security in respect of
which such deposit was made is entitled to, and does, elect pursuant to Section 312(b) or the terms
of such Security to receive payment in a Currency other than that in which the deposit pursuant to
Section 1404(a) has been made in respect of such Security, or (b) a Conversion Event occurs as
contemplated in Section 312(d) or 312(e) or by the terms of any Security in respect of which the
deposit pursuant to Section 1404(a) has been made, the indebtedness represented by such Security
shall be deemed to have been, and will be, fully
discharged and satisfied through the payment of the principal of (and premium, if any) and
interest, if any, on such Security as the same becomes due out of the proceeds yielded by
converting (from time to time as specified below in the case of any such election) the amount or
other property deposited in respect of such Security into the Currency in which such Security
becomes payable as a result of such election or Conversion Event based on the applicable Market
Exchange Rate for such Currency in effect on the second Business Day prior to each payment date,
except, with respect to a Conversion Event, for such Currency in effect (as nearly as feasible) at
the time of the Conversion Event.

          The Issuer shall pay and indemnify the Trustee against any tax, fee or other charge imposed on
or assessed against the Government Obligations deposited pursuant to Section 1404 or the principal
and interest received in respect thereof other than any such tax, fee or other charge which by law
is for the account of the Holders of such Outstanding Securities.

          Anything in this Article to the contrary notwithstanding, the Trustee shall deliver or pay to
the Issuer from time to time upon Issuer Request any money or Government Obligations (or other
property and any proceeds therefrom) held by it as provided in Section 1404 which, in the opinion
of a nationally recognized firm of independent public accountants expressed in a written
certification thereof delivered to the Trustee, are in excess of the amount

69

 

thereof which would
then be required to be deposited to effect a legal defeasance or covenant defeasance, as
applicable, in accordance with this Article.

          SECTION 1406. Reinstatement. (a) If the Trustee or Paying Agent is unable to apply any money
or Government Obligations in accordance with Section 1405 by reason of any legal proceeding or by
reason of any order or judgment of any court or governmental authority enjoining, restraining or
otherwise prohibiting such application, the Issuer’s obligations under this Indenture and the
Securities of the applicable series issued hereunder shall be revived and reinstated as though no
deposit has occurred pursuant to this Article Fourteen until such time as the Trustee or Paying
Agent is permitted to apply all such money or Government Obligations in accordance with Section
1405.

          (b) If the Issuer’s obligations under this Indenture and the Securities of the applicable
series issued hereunder shall be revived and reinstated in accordance with this Section 1406, the
Issuer shall be permitted, at its discretion to withdraw all or a portion of the deposits made by
the Issuer pursuant to this Article Fourteen.

          (c) If the Issuer elects not to withdraw any of the deposits made by the Issuer pursuant to
this Article Fourteen, if and when the Trustee or Paying Agent is later permitted to apply all such
money or Government Obligations in accordance with Section 1405, the rights of the Issuer shall be
subrogated to the rights of the Holders of the Securities of the applicable series to receive
payments from the money or Government Obligations deposited by the Issuer pursuant to Article
Fourteen and held by the Trustee or Paying Agent; provided that if the Issuer shall have
made any payment of principal or interest on the Securities of any series because of the revival
and reinstatement of its obligations, which payment is not sourced from any amounts deposited by
the Issuer pursuant to Article Fourteen (such amount, in the aggregate, being referred to as the
“Issuer Paid Amount”), the Issuer shall be permitted, at its discretion, to
withdraw all or a portion of the deposits made by the Issuer pursuant to this Article Fourteen
up to the Issuer Paid Amount.

ARTICLE FIFTEEN

[RESERVED]

ARTICLE SIXTEEN

GUARANTEE

          SECTION 1601. Guarantee. The Guarantor hereby unconditionally and irrevocably guarantees,
to each Holder of a Security authenticated and delivered by the Trustee in accordance
with the terms hereof, and to the Trustee on behalf of such Holder, (i) (x) the due and punctual
payment of the principal of, and interest on, such Security (including
interest on overdue principal), when and as the same shall become due and
payable, whether at Stated Maturity, by acceleration, redemption or
otherwise in accordance with the terms of such Securities and of this
Indenture, and (y) the faithful performance of all other obligations

70

 

of the Issuer to the
Holders or the Trustee under such Security and this Indenture and (ii) in case of any extension of time
of payment or renewal of any Security or any of such other obligations, that the 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.

          The Guarantor hereby agrees that its obligations hereunder shall be unconditional,
irrespective of (to the extent permitted by law) the validity, regularity or enforceability of the
Securities and the Indenture, the absence of any action to enforce the same, any waiver or consent by
any Holder with respect to any provisions hereof or thereof, any action to enforce the same or any
other circumstance which might otherwise constitute a legal or equitable discharge or defense of
the Guarantor.

          The Guarantor hereby waives (to the extent permitted by law) the benefits of diligence,
presentment, demand for payment, filing of claims with a court in the event of insolvency or
bankruptcy of the Issuer, any right to require a proceeding first against the Issuer or any other
Person, protest, notice and all demands whatsoever and covenants that the Guarantee shall not be
discharged as to any Security except by complete performance of the
obligations contained in such Security,
the Indenture and the Guarantee (to the extent that any obligations under the Indenture and the
Guarantee relate to and are outstanding with respect to such Security). The Guarantor acknowledges
that the Guarantee is a guarantee of payment and not of collection.

          The Guarantor hereby agrees that, in the event of a default in payment of principal or
interest on such Security, whether at its Stated Maturity, by acceleration, redemption, purchase or
otherwise, legal proceedings may be instituted by the Trustee on behalf of, or by, the Holder of
such Security, subject to the terms and conditions set forth in the Indenture, directly against the
Guarantor to enforce the Guarantee without first proceeding against the Issuer. The Guarantor
agrees that if, after the occurrence and during the continuance of an Event of Default, the Trustee
or any of the Holders are prevented by applicable law from exercising their respective rights to
accelerate the maturity of the Securities, to collect interest on the
Securities, or to enforce or exercise
any other right or remedy with respect to the Securities, the Guarantor shall pay to the Trustee for the
account of the Holder, upon demand therefore, the amount that would otherwise have been due and
payable had such rights and remedies been permitted to be exercised by the Trustee or any of the
Holders.

          The Guarantee shall remain in full force and effect and continue to be effective should any
petition be filed by or against the Issuer for liquidation, reorganization, should the Issuer
become insolvent or make an assignment for the benefit of creditors or should a receiver or trustee
be appointed for all or any significant part of the Issuer’s assets.

          SECTION 1602. Severability. In case any provision of the Guarantee shall be invalid, illegal or
unenforceable, the validity, legality, and enforceability of the remaining provisions shall not in
any way be affected or impaired thereby.

71

 

          SECTION 1603. Limitation of Guarantor’s Liability. Any term or provision of the Indenture
notwithstanding, the Guarantee shall not exceed the maximum amount that can be guaranteed by the
Guarantor without rendering the Guarantee voidable under applicable law relating to fraudulent
conveyance or fraudulent transfer or similar laws affecting the rights of creditors generally.

          SECTION
1604. Subrogation. The Guarantor shall be subrogated to all rights of Holders against the
Issuer in respect of any amounts paid by the Guarantor pursuant to the provisions of Section 1601
of this Indenture; provided, however, that if an Event of Default has occurred and is continuing,
the Guarantor shall not be entitled to enforce or receive any payments arising out of, or based
upon, such right of subrogation until all amounts then due and payable by the Issuer under the
Indenture or the Securities shall have been paid in full.

          SECTION 1605. Reinstatement. The Guarantor hereby agrees that the Guarantee provided for in
Section 1601 shall continue to be effective or be reinstated, as the case may be, if at any time
payment, or any part thereof, made by or on behalf of the Issuer or the Guarantor in respect of any
of the obligations under the Securities or the Indenture is rescinded or must otherwise be restored or
returned by any Holder or the Trustee for any reason whatsoever, whether upon the insolvency,
bankruptcy, dissolution, liquidation or reorganization of the Issuer, or upon or as a result of the
appointment of a receiver,
intervenor or conservator of, or trustee or similar officer for the Issuer or any substantial part
of its properties, or otherwise, all as though such payment had not been made.

          SECTION 1606. Benefits Acknowledged. The Guarantor acknowledges that it will receive direct and
indirect benefits from the financing arrangements contemplated by the Indenture and that its
guarantee and waivers pursuant to its Guarantee are knowingly made in contemplation of such
benefits.

          SECTION 1607. Authentication Required. The Guarantee shall not be valid or obligatory for any
purpose until the certificate of authentication on the Securities shall have been executed by the
Trustee under the Indenture by the manual signature of one of its authorized signatories.

          SECTION 1608. Release of the Guarantor. Concurrently with the discharge of the Securities under
Section 401 of this Indenture, the Guarantor shall be released from its obligations under the
Guarantee.

* * * * *

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

72

 

     IN WITNESS WHEREOF, the undersigned being duly authorized, have executed this Indenture on
behalf of the respective parties hereto as of the date first above written.

	 	 	 	 	 	 	 
	 	 	QIMONDA FINANCE LLC,
	 

	 	 	 	as Issuer	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Michael J. Munn	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Michael J. Munn	 	 
	 

	 	 	 	Title: Secretary	 	 
	 
	 	 	 	 	 	 
	 	 	QIMONDA AG,
	 

	 	 	 	as Guarantor	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ ppa. Dreischhoff	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Peter Dreischhoff	 	 
	 

	 	 	 	Title: Senior Vice President	 	 
	 

	 	 	 	          Finance & Treasury	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ ppa Lau	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Nicole Lau	 	 
	 

	 	 	 	Title: Corporate Legal Counsel	 	 
	 

	 	 	 	          Vice
President 	 	 
	 
	 	 	 	 	 	 
	 	 	DEUTSCHE BANK TRUST
COMPANY AMERICAS,
	 

	 	 	 	as Trustee	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Wanda Camacho	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Wanda Camacho	 	 
	 

	 	 	 	Title: Vice President	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Annie Jaghatspanyan	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Annie Jaghatspanyan	 	 
	 

	 	 	 	Title: Assistant Vice President	 	 

73

 

EXHIBIT A

FORMS OF CERTIFICATION

EXHIBIT A-1

FORM OF CERTIFICATE TO BE GIVEN BY PERSON ENTITLED

TO OBTAIN INTEREST PAYABLE PRIOR TO THE EXCHANGE DATE

CERTIFICATE

Qimonda Finance LLC

3000 CentreGreen Way

Cary, North Carolina, 27153

United States of America

[Insert title or sufficient description of Securities to be delivered]

          This is to certify that, as of the date hereof, and except as set forth below, the
above-captioned Securities held by you for our account (i) are owned by person(s) that are not
citizens or residents of the United States, domestic partnerships, domestic corporations or any
estate or trust the income of which is subject to United States federal income taxation regardless
of its source (“United States person(s)”), (ii) are owned by United States person(s) that
are (a) foreign branches of United States financial institutions (financial institutions, as
defined in United States Treasury Regulations Section 1.165-12(c)(1)(v) are herein referred to as
“financial institutions”) purchasing for their own account or for resale, or (b) United
States person(s) who acquired the Securities through foreign branches of United States financial
institutions and who hold the Securities through such United States financial institutions on the
date hereof (and in either case (a) or (b), each such United States financial institution hereby
agrees, on its own behalf or through its agent, that you may advise Qimonda Finance LLC or its
agent that such financial institution will comply with the requirements of Section 165(j)(3)(A),
(B) or (C) of the United States Internal Revenue Code of 1986, as amended, and the regulations
thereunder), or (iii) are owned by United States or foreign financial institution(s) for purposes
of resale during the restricted period (as defined in United States Treasury Regulations Section
1.163-5(c)(2)(i)(D)(7)), and, in addition, if the owner is a United States or foreign financial
institution described in clause (iii) above (whether or not also described in clause (i) or (ii)),
this is to further certify that such financial institution has not acquired the Securities for
purposes of resale directly or indirectly to a United States person or to a person within the
United States or its possessions.

 

 

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

          We undertake to advise you promptly by tested telex on or prior to the date on which you
intend to submit your certification relating to the above-captioned Securities held by you for our
account in accordance with your Operating Procedures if any applicable statement herein is not
correct on such date, and in the absence of any such notification it may be assumed that this
certification applies as of such date.

          This certificate excepts and does not relate to [U.S.$]        of such
interest in the above-captioned Securities in respect of which we are not able to certify and as to
which we understand an exchange for an interest in a Permanent Global Security or an exchange for
and delivery of definitive Securities (or, if relevant, collection of any interest) cannot be made
until we do so certify.

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

	 	 	 	 	 
	Dated:
	 	 	 	 
	 

	 	 

	 	 

[To be dated no earlier than the 15th day

prior to (i) the Exchange Date or (ii) the

relevant Interest Payment Date occurring

prior to the Exchange Date, as applicable]

	 	 	 	 	 
	 

	 	[Name of Person Making Certification]	 	 
	 
	 

	 	 

(Authorized Signatory)
	 	 
	 

	 	Name:	 	 
	 

	 	Title:	 	 

A-1-2

 

EXHIBIT A-2

FORM OF CERTIFICATE TO BE GIVEN BY EUROCLEAR AND

CLEARSTREAM IN CONNECTION WITH THE EXCHANGE OF

A PORTION OF A TEMPORARY GLOBAL SECURITY

OR TO OBTAIN INTEREST PAYABLE PRIOR

TO THE EXCHANGE DATE

CERTIFICATE

Qimonda Finance LLC

3000 CentreGreen Way

Cary, North Carolina, 27153

United States of America

[Insert title or sufficient description of Securities to be delivered]

     This is to certify that, based solely on written certifications that we have received in
writing, by tested telex or by electronic transmission from each of the persons appearing in our
records as persons entitled to a portion of the principal amount set forth below (our “Member
Organizations”) substantially in the form attached hereto, as of the date hereof, [U.S.$]
                     principal amount of the above-captioned Securities (i) is owned by
person(s) that are not citizens or residents of the United States, domestic partnerships, domestic
corporations or any estate or trust the income of which is subject to United States Federal income
taxation regardless of its source (“United States person(s)”), (ii) is owned by United
States person(s) that are (a) foreign branches of United States financial institutions (financial
institutions, as defined in U.S. Treasury Regulations Section 1.165-12(c)(1)(v) are herein referred
to as “financial institutions”) purchasing for their own account or for resale, or (b)
United States person(s) who acquired the Securities through foreign branches of United States
financial institutions and who hold the Securities through such United States financial
institutions on the date hereof (and in either case (a) or (b), each such financial institution has
agreed, on its own behalf or through its agent, that we may advise Qimonda Finance LLC or its agent
that such financial institution will comply with the requirements of Section 165(j)(3)(A), (B) or
(C) of the Internal Revenue Code of 1986, as amended, and the regulations thereunder), or (iii) is
owned by United States or foreign financial institution(s) for purposes of resale during the
restricted period (as defined in United States Treasury Regulations Section
1.163-5(c)(2)(i)(D)(7)), and, to the further effect, that financial institutions described in
clause (iii) above (whether or not also described in clause (i) or (ii)) have certified that they
have not acquired the Securities for purposes of resale directly or indirectly to a United States
person or to a person within the United States or its possessions.

 

 

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

     We further certify that (i) we are not making available herewith for exchange (or, if
relevant, collection of any interest) any portion of the temporary global Security representing the
above-captioned Securities excepted in the above-referenced certificates of Member Organizations
and (ii) as of the date hereof we have not received any notification from any of our Member
Organizations to the effect that the statements made by such Member Organizations with respect to
any portion of the part submitted herewith for exchange (or, if relevant, collection of any
interest) are no longer true and cannot be relied upon as of the date hereof.

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

Dated:      

[To be dated no earlier than the Exchange

Date or the relevant Interest Payment Date

occurring prior to the Exchange Date, as

applicable]

	 	 	 	 	 
	 	 	[Euroclear Bank S.A./N.V.,] as
	 	 	Operator of the Euroclear System
	 	 	[Clearstream]
	 
	 	 	 	 
	 

	 	By	 	 
	 

	 	 	 	 

A-2-2exv4w2d

 

Exhibit 4(ii)(D)

QIMONDA FINANCE LLC,

As Issuer,

QIMONDA AG,

As Guarantor

and

DEUTSCHE BANK TRUST COMPANY AMERICAS,

As Trustee, Paying Agent and Conversion Agent

 

FIRST SUPPLEMENTAL INDENTURE

Dated as of February 13, 2008

 

Supplemental to Indenture

Dated as of February 13, 2008

 

Creating a series of Securities

designated

6.75% Senior Unsecured Convertible Notes due 2013

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 
	 	 	 	 	Page
	 
	 	 	 	 	 	 
	 

	 	ARTICLE ONE	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	DEFINITIONS AND OTHER
PROVISIONS OF GENERAL APPLICATION	 	 	 	 
	 
	 	 	 	 	 	 
	Section 101.

	 	Definitions
	 	 	2	 
	 
	 	 	 	 	 	 
	 

	 	ARTICLE TWO	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	THE NOTES	 	 	 	 
	 
	 	 	 	 	 	 
	Section 201.

	 	Designation of Notes; Establishment of Form
	 	 	6	 
	Section 202.

	 	Amount
	 	 	7	 
	Section 203.

	 	Interest
	 	 	7	 
	Section 204.

	 	Denominations
	 	 	7	 
	Section 205.

	 	Place of Payment
	 	 	8	 
	Section 206.

	 	Redemption
	 	 	8	 
	Section 207.

	 	Conversion
	 	 	8	 
	Section 208.

	 	Stated Maturity
	 	 	8	 
	Section 209.

	 	Repurchase
	 	 	8	 
	Section 210.

	 	Guarantee
	 	 	8	 
	Section 211.

	 	Negative Pledge
	 	 	9	 
	Section 212.

	 	[Reserved]
	 	 	9	 
	 
	 	 	 	 	 	 
	 

	 	ARTICLE THREE	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	AMENDMENTS TO THE BASE INDENTURE	 	 	 	 
	 
	 	 	 	 	 	 
	Section 301.

	 	Provisions Applicable Only to Notes
	 	 	9	 
	Section 302.

	 	Events of Default
	 	 	9	 
	Section 303.

	 	Registration of Transfer and Exchange
	 	 	11	 
	Section 304.

	 	[Reserved]
	 	 	11	 
	Section 305.

	 	[Reserved]
	 	 	11	 
	Section 306.

	 	Supplemental Indentures
	 	 	12	 
	Section 307.

	 	Satisfaction and Discharge
	 	 	13	 
	Section 308.

	 	Legal Defeasance and Covenant Defeasance
	 	 	15	 
	Section 309.

	 	Consolidation, Merger and Sale of Assets
	 	 	15	 
	Section 310.

	 	Payment of Principal and Interest
	 	 	16	 
	Section 311.

	 	Limitation on Suits
	 	 	16	 
	Section 312.

	 	Waivers of Past Defaults
	 	 	16	 
	Section 313.

	 	Additional Amounts
	 	 	17	 

i

 

	 	 	 	 	 	 	 
	 	 	 	 	Page
	 
	 	 	 	 	 	 
	 

	 	ARTICLE FOUR	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	CONVERSION OF NOTES	 	 	 	 
	 
	 	 	 	 	 	 
	Section 401.

	 	Right to Convert
	 	 	20	 
	Section 402.

	 	Conversion Procedures
	 	 	21	 
	Section 403.

	 	Cash Payments in Lieu of Fractional Shares
	 	 	22	 
	Section 404.

	 	Conversion Rate
	 	 	22	 
	Section 405.

	 	Conversion Rate Adjustment Upon Certain Fundamental Changes
	 	 	23	 
	Section 406.

	 	General Conversion Rate Adjustments
	 	 	24	 
	Section 407.

	 	Effect of Consolidation, Merger or Sale
	 	 	29	 
	Section 408.

	 	General Provisions Applicable to Adjustments
	 	 	30	 
	Section 409.

	 	Taxes on ADSs Issued
	 	 	30	 
	Section 410.

	 	Reservation of ADSs; ADSs to be
Fully Paid; Compliance with Governmental Requirements; Listing of ADSs; Notice
	 	 	30	 
	Section 411.

	 	
Responsibility of Trustee
	 	 	31	 
	Section 412.

	 	Notice to Holders Prior to Certain Actions
	 	 	31	 
	Section 413.

	 	Rights Issued in Respect of Common Stock Issued Upon Conversion
	 	 	32	 
	 
	 	 	 	 	 	 
	 

	 	ARTICLE FIVE	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	REDEMPTION AND REPURCHASE OF NOTES	 	 	 	 
	 
	 	 	 	 	 	 
	Section 501.

	 	Redemption of Notes at the Option of the Issuer
	 	 	33	 
	Section 501-1

	 	Early Redemption at the Option of the Issuer for Reasons of Insufficient Outstanding Principal Amount
	 	 	33	 
	Section 501-2

	 	
Redemption upon Changes in Withholding Taxes
	 	 	33	 
	Section 502.

	 	Notice of Optional Redemption; Selection of Notes
	 	 	35	 
	Section 503.

	 	Payment of Notes Called for Redemption by the Issuer
	 	 	37	 
	Section 504.

	 	Conversion Arrangement on Call for Redemption
	 	 	38	 
	Section 505.

	 	Repurchase at Option of Holders Upon a Fundamental Change
	 	 	38	 
	Section 506.

	 	[Reserved]
	 	 	41	 
	Section 507.

	 	Procedures for the Repurchase of Notes
	 	 	41	 
	Section 508.

	 	Effect of Repurchase Notice
	 	 	42	 
	Section 509.

	 	Deposit of Purchase Price
	 	 	43	 
	Section 510.

	 	Notes Repurchased in Part
	 	 	44	 
	Section 511.

	 	Repayment to the Issuer
	 	 	44	 
	 
	 	 	 	 	 	 
	 

	 	ARTICLE SIX	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	MISCELLANEOUS PROVISIONS	 	 	 	 
	 
	 	 	 	 	 	 
	Section 601.

	 	Integral Part
	 	 	44	 
	Section 602.

	 	Adoption, Ratification and Confirmation
	 	 	44	 
	Section 603.

	 	Counterparts
	 	 	44	 
	Section 604.

	 	Governing Law and Jurisdiction
	 	 	45	 
	Section 605.

	 	Conflict of Any Provision of Indenture with Trust Indenture Act of 1939
	 	 	45	 

ii

 

	 	 	 	 	 	 	 
	 	 	 	 	Page
	 
	Section 606.

	 	Effect of Headings
	 	 	45	 
	Section 607.

	 	Severability of Provisions
	 	 	45	 
	Section 608.

	 	Successors and Assigns
	 	 	46	 
	Section 609.

	 	Benefit of Supplemental Indenture
	 	 	46	 
	Section 610.

	 	Acceptance by Trustee
	 	 	46	 
	Section 611.

	 	Rights of the Conversion Agent
	 	 	46	 
	Section 612.

	 	Calculations in Respect of the Notes
	 	 	46	 
	Section 613.

	 	Currency Indemnity
	 	 	46	 

iii

 

QIMONDA FINANCE LLC

FIRST SUPPLEMENTAL INDENTURE

          THIS FIRST SUPPLEMENTAL INDENTURE, dated as of February 13, 2008, between Qimonda Finance LLC,
a limited liability company organized and existing under the laws of the State of Delaware (the “Issuer”),
Qimonda AG, a stock corporation incorporated in the Federal Republic of Germany (the “Guarantor”),
and Deutsche Bank Trust Company Americas, a New York banking corporation, as trustee (the
“Trustee”), paying agent (the “Paying Agent”) and conversion agent (the “Conversion Agent”).

RECITALS OF THE COMPANY

          WHEREAS, the Issuer and the Guarantor have heretofore executed and delivered to the Trustee an
Indenture, dated as of February 13, 2008 (the “Base Indenture”), providing for the issuance from
time to time of its debt securities in one or more series;

          WHEREAS, Section 901(6) of the Base Indenture provides that the Issuer, the Guarantor and the
Trustee may from time to time enter into one or more indentures supplemental thereto to establish
the form or terms of Securities of any series as permitted by Sections 201 and 301 thereof;

          WHEREAS, for its lawful limited liability company purposes, the Issuer has duly authorized the
issuance of its 6.75% Senior Unsecured Convertible Notes due 2013 (the “Notes”), in an aggregate principal amount of $217,647,000 (or $248,117,000 to the extent that the Underwriters’
over-allotment option pursuant to the Underwriting Agreement is exercised in full);

          WHEREAS, the Issuer and the Guarantor propose by this First Supplemental Indenture to
supplement and amend in certain respects the Base Indenture insofar as it will apply only to the
Notes (and not to any other series of Securities) to provide for the form, terms and other
provisions of the Notes as a separate series of Securities to be issued under the Indenture;

          WHEREAS the Guarantor has duly authorized the execution and delivery of this First
Supplemental Indenture to provide for the guarantee by it with respect to the Notes as set forth
herein;

          WHEREAS, all acts and things necessary to duly authorize and reserve for the issuance of the
American Depositary Shares (the “ADSs”, and each, an “ADS”) representing Ordinary Shares of the
Guarantor, issuable upon the conversion of the Notes have been done and performed; and

          WHEREAS, all acts and things necessary to make the Notes, when executed by the Issuer and
authenticated and delivered by the Trustee, the valid, binding and legal obligations of the Issuer,
and to constitute this First Supplemental Indenture a valid agreement according to its terms, have
been done and performed, and the execution of this First Supplemental Indenture and the issuance
hereunder of the Notes have in all respects been duly authorized.

 

 

          WHEREAS, the Issuer and the Guarantor hereby appoint the Conversion Agent as their agent in
relation to any conversion of the Notes, and the Conversion Agent hereby accepts such appointment.

          WHEREAS, the Issuer and the Guarantor hereby appoint the Paying Agent in relation to any
payments under the Notes, and the Paying Agent hereby accepts such appointment.

          NOW, THEREFORE, THIS FIRST SUPPLEMENTAL INDENTURE WITNESSETH:

          In consideration of the premises provided for herein, the Issuer, the Guarantor and the
Trustee mutually covenant and agree for the equal and proportionate benefit of all Holders of the
Notes as follows:

ARTICLE ONE

DEFINITIONS AND OTHER

PROVISIONS OF GENERAL APPLICATION

Section 101. Definitions.

          For all purposes of the Base Indenture and this First Supplemental Indenture relating to the
series of Securities, consisting of the Notes, created hereby, except as otherwise expressly
provided or unless the context otherwise requires, (i) the terms defined in this Article have the
meanings assigned to them in this Article, (ii) any term that is defined in both the Base Indenture
and this First Supplemental Indenture shall have the meaning assigned to such term in this First
Supplemental Indenture, (iii) any capitalized term that is used in this First Supplemental
Indenture but not defined herein shall have the meaning specified in the Base Indenture and (iii)
as used in this First Supplemental Indenture, the terms “herein,” “hereof,” “hereunder” and other
words of similar import refer to this First Supplemental Indenture.

          “Additional Amounts” has the meaning specified in Section 313 hereof.

          “Additional Taxing Jurisdiction” has the meaning specified in Section 313 hereof.

          “Adjustment Date” has the meaning specified in Section 405(b) hereof.

          “ADS Depositary” means Citibank N.A. until one or more successors replaces it pursuant to the
applicable provisions of the ADS Deposit Agreement and, thereafter, shall mean each such successor.
The foregoing sentence shall likewise apply to any subsequent such successor or successors.

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          “ADS Deposit Agreement” means the Deposit Agreement among the Guarantor, the ADS Depositary
and Beneficial Owners of ADSs issued thereunder, dated August 14, 2006, as amended.

          “Appertaining Claim” means the pro rata portion of the Proceeds Loan that is attributable to
each Note.

          “Bankruptcy Law” has the meaning specified in Section 302 hereof.

          “Capital Market Indebtedness” means any obligation to repay money that is borrowed through the
issuance by the Guarantor or any of its affiliates or any non-consolidated entity it or any such
affiliate has formed, of bonds, convertible notes, or other debt securities which are capable of
being listed or traded on a regulated stock exchange or other recognized securities market. Except
as expressly provided in the preceding sentence, Capital Market Indebtedness does not include any
assets or liabilities that would have constituted off-balance sheet assets and liabilities in
accordance with generally accepted accounting principles in the United States or International
Financial Reporting Standards as issued by the International Accounting Standards Board, in each
case as of the issue date of the Notes.

          “Change in Tax Law” has the meaning specified in Section 501-2 hereof.

          “Change of Control” has the meaning specified in Section 505 hereof.

          “close of business” means 5 p.m. (New York City time).

          “Closing Sale Price” means, with respect to any security on any date, the last reported
closing price per security (or, if no last closing price is reported, the average of the last bid
and ask prices or, if more than one in either case, the average of the average bid and the average
ask prices) on such date as reported in composite transactions for the principal U.S. securities
exchange on which the securities are then listed or, if the securities are not listed on a U.S.
national or regional exchange, the “Closing Sale Price” will be the last quoted bid price for the
securities, in the over-the-counter market on the relevant dates as reported by the National
Quotation Bureau Incorporated or any similar U.S. system of automated dissemination of quotations
of securities prices. If the securities are not so quoted, the “Closing Sale Price” will be the
price as reported on the principal other market on which the securities are then traded. In the
absence of such quotations, the Guarantor’s Management Board will make a good faith determination
of the Closing Sale Price, which determination in good faith will be conclusive and binding on all
Holders. In the case of the Ordinary Shares, if the Ordinary Shares are not listed on a national
securities exchange or quoted on an automated dealer quotation system, then the Closing Sale Price
of an Ordinary Share shall be equal to the Closing Sale Price per ADS, divided by the number of
Ordinary Shares then represented by each ADSs, or calculated pursuant to this definition.

          “Conversion
Agent” means Deutsche Bank Trust Company Americas until one or more successors replaces
it pursuant to the applicable provisions of this Indenture and, thereafter, shall mean each such
successor. The foregoing sentence shall likewise apply to any subsequent such successor or
successors.

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          “Conversion Date” has the meaning specified in Section 402 hereof.

          “Conversion Price” as of any date will equal $1,000 divided by the Conversion Rate as of such
date, except as set forth in Section 406(b).

          “Conversion Rate” has the mean specified in Section 404 hereof.

          “Current Market Value” means, with respect to the Ordinary Shares, on any day the average of
the Closing Sale Prices of the Ordinary Shares (or, if the Closing Sale Price of the Ordinary
Shares has been determined by reference to the Closing Sale Price per ADS, the Closing Sale Price
of the ADSs, divided by the number of Ordinary Shares then represented by each ADS) for each of the
10 consecutive Trading Days ending on the day in question.

          “Custodian” has the meaning specified in Section 302 hereof.

          “Delisting Event” has the meaning specified in Section 505 hereof.

          “ex-date” means (i) when used with respect to any issuance or distribution, the first date on
which the Ordinary Shares or ADSs, as applicable, trade on the applicable exchange or in the
applicable market, regular way, without the right to receive such issuance or distribution or (ii)
when used with respect to a share split or combination of shares, the first date on which the
Ordinary Shares trade on the applicable exchange or in the applicable market, regular way, after
the time of which such share split or contribution becomes effective.

          “Exchange Act” means the Securities Exchange Act of 1934, as amended.

          “Excluded Period” has the meaning specified in Section 401 hereto.

          “Expiration Date” has the meaning specified in Section 405(b) hereof.

          “Final Maturity Date” has the meaning specified in Section 208 hereof.

          “Fundamental Change” has the meaning in Section 505 hereof.

          “Global Note” has the meaning specified in Section 201(b) hereof.

          “Indenture” means the Base Indenture, as amended by the First Supplemental Indenture and, if
amended or supplemented as herein provided, as so amended or supplemented.

          “Interest” means, when used with reference to the Notes, any interest payable under the terms
of the Notes.

          “Interest Payment Date” has the meaning set forth in the Base Indenture and, with respect to
the Notes only, shall mean March 15 and September 15.

          “Issuer Repurchase Notice” has the meaning specified in Section 507(c) hereof.

          “Issuer Repurchase Notice Date” has the meaning specified in Section 507(b) hereof.

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          “Note” or “Notes” has the meaning specified in Section 201(a) hereof and includes any Global
Note.

          “Noteholder” or “Holder” as applied to any Note, or other similar terms (but excluding the
term “beneficial holder”), means any Person in whose name at the time a particular Note is
registered on the Security Registrar’s books.

          “Notes Register” means, with respect to the Notes, the Securities Register.

          “Ordinary Shares” means the no-par registered ordinary shares of the Guarantor.

          “Paying Agent” means Deutsche Bank Trust Company Americas until one or more successors
replaces it pursuant to the applicable provisions of this Indenture and, thereafter, shall mean
each such successor. The foregoing sentence shall likewise apply to any subsequent such successor
or successors.

          “Proceeds Loan” means the loan by the Issuer of the proceeds from the offering of the Notes to
the Guarantor.

          “Purchased Shares” has the meaning specified in Section 405(b) hereof.

          “Record Date” means the record date established by the Issuer for a specified purpose.

          “Redemption Date” has the meaning specified in Section 502 hereof.

          “Redemption Excluded Period” has the meaning specified in Section 501 hereof.

          “Regular Record Date” has the meaning set forth in the Base Indenture and with respect to the
Notes only shall mean March 1 with respect to the Interest Payment Date on March 15 and September 1
with respect to the Interest Payment Date on September 15.

          “Relevant Taxing Jurisdiction” has the meaning specified in Section 313 hereof.

          “Repurchase Date” has the meaning specified in Section 505 hereof.

          “Repurchase Right” has the meaning specified in Section 505 hereof.

          “Rights” and “Rights Agreement” have the meanings specified in Section 413 hereof.

          “Significant Subsidiary” has the meaning specified in Section 302.

          “Subscription Certificate” has the meaning specified in Section 402(a) hereof.

          “Subsidiary” of any Person means (i) a corporation, a majority of whose Capital Stock with
voting power, under ordinary circumstances, to elect directors is, at the date of determination,
directly or indirectly owned by the Guarantor, by one or more Subsidiaries of the

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Guarantor or by the Guarantor and one or more Subsidiaries of the Guarantor, (ii) a
partnership in which the Guarantor or a Subsidiary of the Guarantor holds a majority interest in
the equity capital or profits of such partnership, or (iii) any other Person (other than a
corporation or a partnership) in which the Guarantor, a Subsidiary of the Guarantor or the
Guarantor and one or more Subsidiaries of the Guarantor, directly or indirectly, at the date of
determination, have (x) at least a majority ownership interest or (y) the power to elect or direct
the election of a majority of the directors or other governing body of such Person.

          “Successor Entity Shares” has the meaning specified in Section 405(b) hereof.

          “Taxes” has the meaning specified in Section 313 hereof.

          “Trading Day” means a day on which the New York Stock Exchange is open for business.

          “Underwriters” means Citigroup Global Market Inc., Credit Suisse Securities (USA) LLC and
Deutsche Bank Securities Inc., and the other underwriters named in the Underwriting Agreement, as
underwriters of the public offering of the Notes issued on the date hereof pursuant to the
Underwriting Agreement.

          “Underwriting Agreement” means the Underwriting Agreement dated February 7, 2008 among the
Issuer, the Guarantor and the Underwriters relating to the public offering of the Notes.

ARTICLE TWO

THE NOTES

Section 201. Designation of Notes; Establishment of Form.

          (a) There shall be a series of Securities designated “6.75% Senior Unsecured Convertible Notes
due 2013” of the Issuer (referred to herein as the “Notes”), and the form thereof shall be
substantially as set forth in Annex A hereto, which is incorporated into and shall be
deemed a part of this First Supplemental Indenture, with such appropriate insertions, omissions,
substitutions and other variations as are required or permitted by the Indenture, and may have such
letters, numbers or other marks of identification and such legends or endorsements placed thereon
as may be required to comply with the rules of any securities exchange or as may, consistently
herewith, be determined by the officers of the Issuer executing such Notes, as evidenced by their
execution of the Notes.

          (b) The Notes shall be Registered Securities and initially be issued in global form as Global
Securities (the “Global Note”).

          (c) The Issuer shall maintain an office or agency where Notes may be presented for purchase or
payment (which shall be the office of the Paying Agent) and an office or agency where Notes may be presented for conversion (which shall be the office of the Conversion
Agent). The Issuer may have one or more additional Paying Agents and one or more additional

6

 

Conversion Agents. The Issuer initially appoints the Trustee as Conversion Agent and Paying
Agent in connection with the Notes and the Trustee accepts such appointment.

Section 202. Amount.

          (a) The Trustee shall initially authenticate and deliver Notes for original issue in an
aggregate principal amount of up to $217,647,000 (or up to $248,117,000 to the extent
that the Underwriters’ over-allotment option pursuant to the Underwriting Agreement is exercised in
full) upon an Issuer Order for the authentication and delivery of Notes, without any further action
by the Issuer.

          (b) The Issuer may not issue new Notes to replace Notes that it has paid or delivered to the
Trustee for cancellation or that any Holder has converted pursuant to Article Four hereof.

Section 203. Interest.

          (a) The Notes shall bear interest at a rate of 6.75% per annum on the principal amount from
February 13, 2008. The Issuer shall pay interest semi-annually, in arrears, beginning on September
15, 2008 and thereafter on each Interest Payment Date to the Holders at the close of business on
the Regular Record Date.

          (b) Interest on the Notes shall accrue from the most recent date to which interest has been
paid or, if no interest has been paid, from February 13, 2008. Interest will be computed on the
basis of a 360-day year comprised of twelve 30-day months.

          (c) Interest shall cease to accrue on a Note upon its Stated Maturity, upon its repurchase by
the Issuer at the option of a Holder pursuant to Section 505 hereof, upon its redemption pursuant
to Sections 501, 501-1 or 501-2 hereof or, in the case of a conversion of Notes, from the end of
the day immediately preceding the Conversion Date.

          (d) Each payment of cash interest on the Notes shall include interest accrued through the day
before an Interest Payment Date, Redemption Date or Repurchase Date, as the case may be. Any
payment required to be made on any day that is not a Business Day shall be made on the next
succeeding Business Day.

Section 204. Denominations.

          Except under limited circumstances described in Section 203(b)(ii) of the Base Indenture, the
Notes shall be issued only in fully registered book-entry form, without coupons, in minimum
denominations of $100,000 principal amount and multiples of $1,000 in excess thereof, and shall be
represented by one or more Global Notes.

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Section 205. Place of Payment.

          The Place of Payment for the Notes and the place or places where the Notes may be surrendered
for registration, transfer, exchange, repurchase, redemption or conversion and where notices may be
given to the Issuer in respect of the Notes is at the Corporate Trust Office of the Trustee in New
York, New York and at the agency of the Trustee maintained for that purpose at the office of the
Trustee; provided, however, that the Issuer may, at its option, pay interest by check mailed to
each Holder at its address as it appears in the Notes Register; provided, however, that Holders of
Notes in certificated form in an aggregate principal amount in excess of $20 million shall be paid,
at their written election, by wire transfer of immediately available funds, but only if the Holder
has provided the Issuer with wire transfer instructions at least ten Business Days prior to the
payment date; provided further, however, that beneficial owners of Notes issued in global form
shall be paid by wire transfer in immediately available funds in accordance with procedures of the
Depositary. There shall be no service charge for any registration of transfer or exchange of
Notes. The Issuer may, however, require Holders to pay a sum sufficient to cover any tax or other
governmental charge payable in connection with certain transfers or exchanges.

Section 206. Redemption.

          (a) There shall be no sinking fund for the retirement of the Notes.

          (b) The Issuer, at its option, may redeem the Notes in accordance with the provisions set
forth in the Notes and the provisions of this First Supplemental Indenture, including, without
limitation, Article Five hereof.

Section 207. Conversion.

          The Notes shall be convertible in accordance with the provisions set forth in the Notes and
this First Supplemental Indenture, including, without limitation, Article Four hereof.

Section 208. Stated Maturity.

          The date on which the principal of the Notes is due and payable, unless earlier converted,
accelerated, redeemed or repurchased pursuant to this First Supplemental Indenture, shall be March
22, 2013 (the “Final Maturity Date”).

Section 209. Repurchase.

          The Notes shall be repurchased by the Issuer for cash at the option of the Holder in
accordance with the provisions set forth in the Notes and this First Supplemental Indenture,
including, without limitation, Article Five hereof.

Section 210. Guarantee.

          The Guarantor hereby fully, unconditionally and irrevocably guarantees all payments to be made
by the Issuer in respect of the Notes, in accordance with the provisions set forth in the Notes and
the Indenture, including, without limitation, Article Sixteen of the Base

8

 

Indenture. The guarantee shall be the Guarantor’s senior unsecured obligation, ranking
equally in right of payment with all of the Guarantor’s existing and future unsubordinated
unsecured indebtedness.

Section 211. Negative Pledge.

          So long as any Notes remain Outstanding or until the Issuer has deposited with the Trustee an
amount of cash, shares or other consideration sufficient to pay all Outstanding Notes and all other
amounts payable under the Indenture in order to discharge the Indenture as described under Article
Four of the Base Indenture, the Issuer and the Guarantor shall not be permitted to secure any
Capital Market Indebtedness, including any guarantees or other indemnities assumed in respect of
such indebtedness, with any of their respective assets without at the same time providing that the
Holders of the Notes will share equally and rateably in such security. This restriction will not
apply to a security interest that (i) is required by applicable law, (ii) is required as a
prerequisite for governmental approvals or (iii) is provided by the Guarantor or any of its
Subsidiaries over any claims of the Issuer, whether presently existing or arising in the future, as
a result of the payment or transfer to the Guarantor of the proceeds from the sale of the Notes
including, without limitation, with respect to the Appertaining Claims, provided, however, that any
such security secures obligations under the Notes.

Section 212. [Reserved]

ARTICLE THREE

AMENDMENTS TO THE BASE INDENTURE

Section 301. Provisions Applicable Only to Notes.

          The provisions contained in this First Supplemental Indenture shall apply to the Notes only
and not to any other series of Securities issued under the Base Indenture and any covenants
provided herein are expressly being included solely for the benefit of the Notes and not for the
benefit of any other series of Securities issued under the Base Indenture. These amendments shall
be effective for so long as there remain any Notes Outstanding.

Section 302. Events of Default.

          Section 501 of the Base Indenture is hereby amended and restated in its entirety, subject to
Section 301 hereof and, with respect to the Notes only to read as follows:

Each of the following constitutes an “Event of Default” with respect to the Notes (whatever the
reason for such Event of Default, whether or not it shall be voluntary or involuntary or be
effected by operation of law or pursuant to any judgment, decree or order of any court or any
order, rule or regulation of any administrative or governmental body):

	(1)	 	a default in the payment when due of any principal of any of the Notes at the Final Maturity
Date, upon Redemption or exercise of a Repurchase Right or otherwise;

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	(2)	 	a default in the payment of any interest or Additional Amount when due under the Notes, which
default continues for 30 days;
	 
	(3)	 	a default in the Guarantor’s or the Issuer’s obligation to satisfy the Guarantor’s conversion
obligation upon exercise of a Holder’s conversion right, which default continues for 15 days;
	 
	(4)	 	a default in the Guarantor’s or Issuer’s obligation to provide notice of the occurrence of a
Fundamental Change when required by this First Supplemental Indenture;
	 
	(5)	 	the Issuer’s or the Guarantor’s failure to comply with any of their respective agreements in
the Notes or the Indenture upon receipt of notice to the Guarantor or the Issuer of such
default from the Trustee or to the Issuer or the Guarantor and the Trustee from Holders of not
less than 25% in aggregate principal amount of the Notes then Outstanding, and the Guarantor’s
or Issuer’s failure to cure (or obtain a waiver of) such default within 90 days after the
Issuer or the Guarantor receive such notice;
	 
	(6)	 	any of the Issuer’s or the Guarantor’s or any Subsidiary’s indebtedness for money borrowed
having an Outstanding principal amount in excess of $30,000,000 or its equivalent in any other
currency at the time of the acceleration referred to in Section 502 of the Base Indenture
becomes immediately due and payable by reason of the occurrence of an Event of Default, and
the acceleration is not rescinded or the indebtedness is not repaid by the end of the 30th day
after receipt of notice to the Guarantor of such failure by the Trustee or to the Guarantor
and the Trustee from Holders of not less than 25% in aggregate principal amount of the Notes
then Outstanding;
	 
	(7)	 	the Guarantor’s Guarantee of the Notes ceases to be in full force and effect or the Guarantor
denies or disaffirms the its obligations under the Guarantee;
	 
	(8)	 	the Issuer or the Guarantor or a Significant Subsidiary pursuant to or within the meaning of
any Bankruptcy Law:

	 	(A)	 	commences a voluntary case,
	 
	 	(B)	 	consents to the entry of an order for relief against it in an involuntary case,
	 
	 	(C)	 	consents to the appointment of a Custodian of it or for all or substantially
all of its property, or
	 
	 	(D)	 	makes a general assignment for the benefit of its creditors; or

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

	 	(A)	 	is for relief against the Issuer, the Guarantor or a Significant Subsidiary in
an involuntary case,

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	 	(B)	 	appoints a Custodian of the Issuer, the Guarantor or a Significant Subsidiary
or for all or substantially all of its property, or
	 
	 	(C)	 	order the liquidation of the Issuer, the Guarantor or a Significant Subsidiary,

and the order or decree remains unstayed and in effect for 90 days.

The term “Bankruptcy Law” means title 11, U.S. Code or any similar Federal or State law or foreign
law for the relief of debtors. The Term “Custodian” means any receiver, trustee, assignee,
liquidator or other similar official under any Bankruptcy Law.

The term “Significant Subsidiary” means any of the Guarantor’s fully consolidated Subsidiaries at
the time of the Event of Default which has: (i) consolidated assets or in which the Guarantor and
the Guarantor’s other Subsidiaries have investments equal to or greater than 10% of the Guarantor’s
total consolidated assets; or (ii) consolidated gross revenue equal to or greater than 10% of the
Guarantor’s consolidated gross revenue.

Section 303. Registration of Transfer and Exchange.

          Section 305 of the Base Indenture is hereby amended, subject to Section 301 hereof and, with
respect to the Notes only, by deleting the first proviso in the third sentence of the fourth
paragraph and by inserting instead the following proviso immediately before “; and provided
further”:

          “provided, however, that neither the Issuer nor the Trustee nor any Security Registrar
shall be required to exchange or register a transfer of (a) any Notes for a period of fifteen (15)
days next preceding any selection of Notes to be redeemed, (b) any Notes or portions thereof called
for redemption pursuant to Section 502 of the First Supplemental Indenture, (c) any Notes or
portions thereof surrendered for conversion pursuant to Article Four of the First Supplemental
Indenture or (d) any Notes or portions thereof tendered for repurchase (and not withdrawn) pursuant
to Section 505 of the First Supplemental Indenture.

Section 304. [Reserved].

Section 305. [Reserved].

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Section 306.
Supplemental Indentures. Section 901 of the Base Indenture is hereby amended and
restated in its entirety, subject to Section 301 hereof and, with respect to the Notes only to read
as follows:

          “The Issuer, the Guarantor and the Trustee may amend or supplement the Indenture or the Notes
without notice to, or the consent of the Holders to, among other things:

	 	(1)	 	cure any ambiguity, defect, omission, mistake or inconsistency;
	 
	 	(2)	 	provide for uncertificated Notes in addition to or in place of
certificated Notes;
	 
	 	(3)	 	provide for the assumption of the Issuer’s and the Guarantor’s
obligations to Holders of Notes in the case of a share exchange, merger or
consolidation or sale of all or substantially all of their assets;
	 
	 	(4)	 	make any change that would provide any additional rights or
benefits to the Holders of Notes or that does not adversely affect in any
material respect the legal rights under the Indenture of any such Holder;
	 
	 	(5)	 	add a guarantor;
	 
	 	(6)	 	comply with requirements of the Commission in order to maintain the qualification of the Indenture under the Trust Indenture Act;
	 
	 	(7)	 	secure the Notes;
	 
	 	(8)	 	comply with the rules of any applicable securities depositary;
	 
	 	(9)	 	make any necessary changes to permit the conversion of the
Notes into Ordinary Shares as a result of the termination of the Guarantor’s
ADS facility;
	 
	 	(10)	 	conform the text of the Indenture or the Notes to any provision
of the “Description of the Convertible Notes” section of the prospectus
relating to the Notes to the extent that the text of the Indenture or the Notes
was intended to be a recitation of the text of that section; or
	 
	 	(11)	 	provide for a successor trustee in accordance with the terms of
the Indenture or to otherwise comply with any requirement of the Indenture.”

          Section 902 of the Base Indenture is hereby amended, subject to Section 301 hereof and, with
respect to the Notes only, by deleting the first paragraph (including clauses (1), (2) and (3)
thereof) and replacing it with the following:

     “The Issuer, the Guarantor and the Trustee may amend or supplement the Indenture or the Notes
with the consent of the Holders of at least a majority in aggregate principal amount of the
Outstanding Notes. In addition, subject to certain exceptions described below, the Holders of

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a majority in aggregate principal amount of the Outstanding Notes may waive compliance in any
instance with any provision of the Indenture without notice to the Holders. No amendment,
supplement or waiver may be made without the consent of the Holder of each Outstanding Note if such
amendment, supplement or waiver would:

	 	(1)	 	change the stated maturity of the principal of or the payment
date of any installment of interest on the Notes;
	 
	 	(2)	 	reduce the principal amount of, Repurchase Price or Redemption
Price of or rate of interest on, any Note;
	 
	 	(3)	 	reduce the amount of principal payable upon acceleration of the
maturity of any Note;
	 
	 	(4)	 	change the currency in which the principal, Repurchase Price or
Redemption Price or interest with respect to the Notes is payable;
	 
	 	(5)	 	impair the right to institute suit for the enforcement of any
payment on, or with respect to, any Note;
	 
	 	(6)	 	modify the provisions with respect to the Repurchase Rights of
the Holders described under Section 505 hereof in a manner adverse to Holders;
	 
	 	(7)	 	adversely affect the right of Holders to convert Notes other
than as provided in the Indenture;
	 
	 	(8)	 	reduce the percentage in principal amount of the Outstanding
Notes, the consent of whose Holders is required in order to take specific
actions including, but not limited to, the waiver of past defaults or the
modification or amendment of the Indenture; or
	 
	 	(9)	 	alter the manner of calculation or rate of accrual of interest,
Redemption Price, Repurchase Price on any Note or extend the time for payment
of any such amount.”

Section 307. Satisfaction and Discharge

          Article Four of the Base Indenture is hereby amended and restated in its entirety, subject to
Section 301 hereof and with respect to the Notes only, to read as follows:

          “SECTION 401. Satisfaction and Discharge of Indenture. This Indenture shall upon Issuer
Request cease to be of further effect with respect to the Notes specified in such Issuer Request or
Guarantor Request (except as to any surviving rights of registration of transfer or exchange of the
Notes expressly provided for herein or pursuant hereto and any right to receive Additional Amounts,
as provided in Section 313 of the First Supplemental Indenture), and the Trustee, upon receipt of an Issuer Order or Guarantor Order, and at the expense of the
Issuer or the Guarantor, shall execute proper instruments acknowledging satisfaction and

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discharge of this Indenture as to such series, in addition to such other circumstances as
specified or as contemplated by Section 301 or Article 14 of the Base Indenture, when:

     (1) either:

     (A) all Notes theretofore authenticated and delivered (other than (i) Notes
which have been destroyed, lost or stolen and which have been replaced or paid as
provided in Section 306 of the Base Indenture, and (ii) Notes for whose payment money has theretofore been
deposited in trust or segregated and held in trust by the Issuer or the Guarantor
and thereafter repaid to the Issuer or the Guarantor or discharged from such trust,
as provided in Section 1003 of the Base Indenture) have been delivered to the
Trustee for cancellation; or

     (B) all Notes have become due and payable, whether at the Final Maturity Date
or any Repurchase Date or by delivery of a Redemption Notice or Conversion Notice or
otherwise, and the Issuer or the Guarantor has deposited or caused to be deposited
with the Trustee as trust funds in trust for such purpose an amount in the Currency
in which the Notes are payable, shares or other consideration sufficient to pay and
discharge the entire indebtedness on the Notes not theretofore delivered to the
Trustee for cancellation, for principal (and premium, if any) and interest, if any,
to the date of such deposit (in the case of Notes which have become due and payable)
or to the Stated Maturity or Redemption Date, as the case may be;

     (2) the Issuer or the Guarantor has paid or caused to be paid all other sums payable
hereunder by the Issuer or the Guarantor; and

     (3) the Issuer or the Guarantor has delivered to the Trustee an Officers’ Certificate
and an Opinion of Counsel, each stating that all conditions precedent herein provided for
relating to the satisfaction and discharge of this Indenture as to such series have been
complied with.

          Notwithstanding the satisfaction and discharge of the Indenture, the obligations of the Issuer
or the Guarantor to the Trustee, any Security Registrar and any Paying Agent and any predecessor
Trustee, any Security Registrar and any Paying Agent under Section 606 of the Base Indenture, the
obligations of the Issuer or the Guarantor to any Authenticating Agent under Section 611 of the
Base Indenture and, if money shall have been deposited with the Trustee pursuant to subclause (B)
of clause (1) of this Section, the obligations of the Trustee under Section 402 and the last
paragraph of Section 1003 of the Base Indenture shall survive such satisfaction and discharge.

          SECTION 402. Application of Trust Funds. Subject to the provisions of the last paragraph of
Section 1003 of the Base Indenture, all money deposited with the Trustee pursuant to Section 401
shall be held in trust and applied by it, in accordance with the provisions of the Notes and the
Indenture, to the payment, either directly or through any Paying Agent (including the Issuer or the Guarantor acting as its own Paying Agent) as the Trustee may
determine, to the Persons entitled thereto, of the principal (and premium, if any) and interest, if

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any, for whose payment such money has been deposited with or received by the Trustee, but such
money need not be segregated from other funds except to the extent required by law.”

Section 308. Legal Defeasance and Covenant Defeasance

     Article Fourteen of the Base Indenture shall not apply to the Notes.

Section 309. Consolidation, Merger and Sale of Assets.

          Article Eight of the Base Indenture is hereby amended and restated in its entirety, subject to
Section 301 hereof and, with respect to the Notes only, to read as follows:

          “The Issuer or the Guarantor shall not consolidate with or merge into any Person or convey,
transfer or lease their properties and assets substantially as an entirety to another Person,
unless:

	 	(a)	 	in the event that the Guarantor consolidates with or merges
into any Person or conveys, transfers or leases its properties and assets
substantially as an entirety to another Person, the resulting, surviving or
transferee Person (if other than the Guarantor) is organized and existing under
the laws of a country that was Member State of the European Union on January 1,
2004, Switzerland, Japan, Taiwan, South Korea or the United States, any state
thereof or the District of Columbia or (ii) in the event that the Issuer
consolidates with or merges into any Person or conveys, transfers or leases its
properties and assets substantially as an entirety to another Person, the
resulting, surviving or transferee Person (if other than the Issuer) is
organized and existing under the laws of the United States, any state thereof
or the District of Columbia;
	 
	 	(b)	 	such Person assumes the Issuer’s or the Guarantor’s, as
applicable, obligations under the Notes, the Guarantee, if applicable, the Base
Indenture and this First Supplemental Indenture;
	 
	 	(c)	 	the Issuer or the Guarantor, as applicable, or such successor
is not immediately thereafter in Default under the Base Indenture and this
First Supplemental Indenture; and
	 
	 	(d)	 	such Person or successor is immediately thereafter permitted to
make all payments under or with respect to the Notes free and clear of, and
without withholding or deduction for or on account of, any present or future
Taxes, imposed or levied by or on behalf of any Relevant Taxing Jurisdiction.

          Upon the assumption of the Issuer’s or the Guarantor’s obligations by such person in such
circumstances, the Issuer and/or the Guarantor shall be discharged
from all obligations under the Notes, the Base Indenture and this First Supplemental Indenture.”

15

 

Section 310. Payment of Principal and Interest.

          Section 1001 of the Base Indenture is hereby amended and restated in its entirety, subject to
Section 301 hereof and, with respect to the Notes only, to read as follows:

          “The Issuer covenants and agrees that it will duly and punctually pay or cause to be paid the
principal of (including the redemption price upon redemption or the purchase price upon repurchase,
in each case pursuant to Article Five of the First Supplemental Indenture), and interest, on each
of the Notes at the places, at the respective times and in the manner provided in this Indenture
and in the Notes.”

Section 311. Limitation on Suits.

          Section 507 of the Base Indenture is hereby amended and restated in its entirety, subject to
Section 301 hereof and, with respect to the Notes only, reads as follows:

          “No Holder will have any right to institute any proceeding under the Indenture, or for the
appointment of a receiver or a trustee, or for any other remedy under the Indenture unless:

	 	(a)	 	the Holder has previously given the Trustee
written notice of a continuing Event of Default;
	 
	 	(b)	 	the Holders of at least 25% in aggregate
principal amount of the Notes then Outstanding have made a written
request and have offered indemnity reasonably satisfactory to the
Trustee to institute such proceedings as Trustee; and
	 
	 	(c)	 	the Trustee has failed to institute such
proceeding within 60 days after such notice, request and offer, and has
not received from the Holders of a majority in aggregate principal
amount of the Notes then Outstanding a direction inconsistent with such
request within 60 days after such notice, request and offer.

          However, the above limitations do not apply to a suit instituted by a Holder for the
enforcement of payment of the principal of or any interest on any Note on or after the applicable
due date or the right to convert the Note in accordance with the Indenture.”

Section 312. Waivers of Past Defaults.

          Section 513 of the Base Indenture is hereby amended and restated in its entirety, subject to
Section 301 hereof and, with respect to the Notes only, reads as follows:

          “The Holders of not less than a majority of the aggregate principal amount of outstanding
Notes may waive any default or event of default other than:

	 	(a)	 	the failure to pay principal of or any interest
on any Note when due or the payment of any redemption or repurchase
price;

16

 

	 	(b)	 	the failure to convert any Note into Ordinary
Shares and cash for fractional shares; and
	 
	 	(c)	 	the failure to comply with any of the
provisions of the Indenture that cannot be modified without the consent
of the Holder of each outstanding Note.”

Section 313. Additional Amounts.

     Section 1004 of the Base Indenture is hereby amended and restated in its entirety, subject to
Section 301 hereof and, with respect to the Notes only, reads as follows:

          (a) All payments made under or with respect to the Notes or the Guarantee shall be made free
and clear of, and without withholding or deduction for or on account of, any present or future tax,
duty, levy, impost, assessment or other governmental charges (including, without limitation,
penalties, interest and other similar liabilities related thereto) (“Taxes”) imposed or levied by
or on behalf of any jurisdiction unless the withholding or deduction of such Taxes is required by
law or by the interpretation or administration of law. In the event that such withholding or
deduction is required, for, or on account of, Taxes imposed or levied on behalf of any jurisdiction
in which the Issuer or the Guarantor is incorporated, organized or otherwise resident for tax
purposes, any jurisdiction from or through which the Issuer or Guarantor make a payment on the
Notes or the Guarantee or any political subdivision or governmental authority of or in any of the
foregoing having the power to tax (each, a “Relevant Taxing Jurisdiction”), from any payment made
under or with respect to the Notes or the Guarantee, the Issuer or the Guarantor shall pay
additional amounts (“Additional Amounts”) as may be necessary to ensure that the net amount
received by each Holder (including Additional Amounts) after such withholding or deduction will be
not less than the amount the Holder or beneficial owner would have received if such Taxes had not
been required to be withheld or deducted.

          (b) The Issuer or the Guarantor shall not, however, pay Additional Amounts to a Holder or
beneficial owner of Notes in respect or on account of:

          (1) any Taxes that are imposed or levied by a Relevant Taxing Jurisdiction by reason of
any present or former connection between the Holder or beneficial owner and the Relevant
Taxing Jurisdiction (other than the mere receipt, ownership or holding of Notes or by reason
of the receipt of payments thereunder or the exercise or enforcement of rights under any
Notes or, the Base Indenture or this First Supplemental Indenture);

          (2) any Taxes that are imposed or withheld by reason of the failure of the Holder or
beneficial owner of the Notes, following the Issuer’s or the Guarantor’s written request
addressed to the Holder or beneficial owner or otherwise provided to the Holder or
beneficial owner (and made at a time that would enable the Holder or beneficial owner acting
reasonably to comply with that request), to provide certification, information, documents or
other evidence concerning the nationality, residence or identity of the Holder or beneficial
owner or to make any valid or timely declaration or similar claim or satisfy any other
reporting requirement, relating to such matters, whether required by

17

 

statute, treaty,
regulation or administrative practice of the Relevant Taxing Jurisdiction, as a precondition
to exemption from, or reduction in the rate of withholding or deduction of, Taxes imposed by
the Relevant Taxing Jurisdiction;

          (3) any estate, inheritance, gift, sales, excise, personal property or similar Taxes;

          (4) any Taxes which are payable otherwise than by withholding or deduction from
payments made under or with respect to the Notes;

          (5) any Taxes that are imposed or levied by reason of the presentation (where
presentation is required in order to receive payment) of the Notes for payment on a date
more than 30 days after the date on which such payment became due and payable or the date on
which payment thereof is duly provided for, whichever occurs later, except to the extent
that the beneficial owner or Holder thereof would have been entitled to Additional Amounts
had the Notes been presented for payment on any date during such 30-day period;

          (6) any withholding or deduction in respect of any Taxes where such withholding or
deduction is imposed on a payment to an individual and is required to be made pursuant to
European Council Directive 2003/48/EC or any other directive implementing the conclusions of
the ECOFIN Council meeting of November 26-27, 2000 on the taxation of savings income or any
law implementing or complying with, or introduced in order to conform to, such directive; or

          (7) any Taxes that are imposed on or with respect to a Note presented by or on behalf
of a Holder or beneficial owner who would have been able to avoid such withholding or
deduction by presenting the relevant Notes to another paying agent.

          (c) The Issuer or the Guarantor, as appropriate, shall (i) make such withholding or deduction
as is required by applicable law and (ii) remit the full amount withheld or deducted to the
Relevant Taxing Authority in accordance with applicable law.

          (d) At least 30 calendar days (or as reasonably practicable thereafter, but in any case) prior
to each date on which any payment under or with respect to the Notes is due and payable, if the
Issuer or the Guarantor shall be obligated to pay Additional Amounts with respect to such payment
(unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on
which payment under or with respect to the Notes is due and payable, in which case it will be
promptly thereafter), the Issuer or the Guarantor shall deliver to the Trustee
an Officer’s Certificate stating that such Additional Amounts will be payable and the amounts
so payable and shall set forth such other information necessary to enable the Trustee or Paying
Agent, as the case may be, to pay such Additional Amounts (subject to
receipt of those funds from the Issuer or the Guarantor) to Holders and beneficial owners on the
relevant payment date. The Trustee shall, without further investigation, be entitled to rely on
such Officer’s Certificate as conclusive proof that such payments are necessary. The Issuer or the
Guarantor shall provide the Trustee with documentation reasonably satisfactory to the Trustee
evidencing payment of Additional Amounts.

18

 

          (e) Upon written request, the Issuer or the Guarantor shall furnish to the Trustee or a
Holder, within a reasonable time, certified copies of tax receipts evidencing the payment of any
Taxes imposed or levied by a Relevant Taxing Jurisdiction, in such form as is provided in the
normal course by the taxing authority imposing such Taxes and as is reasonably available. If,
notwithstanding efforts to obtain such receipts, the same are not obtainable, the Issuer or the
Guarantor shall provide the Trustee or Holder with other evidence reasonably satisfactory to the
Trustee or Holder of such payments.

          (f) If the Issuer or the Guarantor conduct business in any jurisdiction (the “Additional
Taxing Jurisdiction”) other than a Relevant Taxing Jurisdiction and, as a result, are required by
the law of such Additional Taxing Jurisdiction to withhold or deduct any amount on account of the
Taxes imposed by such Additional Taxing Jurisdiction from payment under the Notes or Guarantee,
which would not have been required to be so withheld or deducted but for such conduct of business
in such Additional Taxing Jurisdiction, the Additional Amounts provision described above shall be
considered to apply as if references in such provision to
“Taxes” included taxes imposed by way of
withholding or deduction by any such Additional Taxing Jurisdiction (or any political subdivision
thereof or therein).

          (g) In addition, the Issuer or the Guarantor shall pay all present and future stamp, issue,
registration, transfer, court, documentation, or any excise or property taxes or other similar
taxes, charges and duties, including interest and penalties with respect thereto, imposed by or in
any Relevant Taxing Jurisdiction in respect of the execution, issue, delivery or registration of
the Notes, Indenture, this First Supplemental Indenture, Guarantee or any other document or
instrument referred to therein and any such taxes, charges, duties or similar levies imposed by any
jurisdiction as a result of, or in connection with, the enforcement of the Notes, Guarantee or any
other such document or instrument following the occurrence of any Event of Default with respect to
the Notes or the Guarantee.

          (h) The preceding provisions shall survive any termination or discharge of the Indenture or
this First Supplemental Indenture and shall apply mutatis mutandis to any jurisdiction in which any
successor person to the Issuer or the Guarantor is organized, incorporated or otherwise resident
for tax purposes and any political subdivision or taxing authority or agency thereof or therein.

          (i) Whenever the Indenture or this First Supplemental Indenture refers to, in any context, the
payment of principal, premium, if any, interest or any other amount payable under or with respect
to any Note (including payments thereof made pursuant to the Guarantee), such reference includes
the payment of Additional Amounts, if applicable.

19

 

ARTICLE FOUR

CONVERSION OF NOTES

Section 401. Right to Convert.

          (a) Subject to and upon compliance by Holders with the provisions of this Indenture, the
Guarantor grants the right to the Holder of any Note not previously redeemed or repurchased at such
Holder’s option, to convert the principal amount of the Note, or any portion of such principal
amount which is a multiple of $1,000, together with the Appertaining Claim, into fully paid and
non-assessable Ordinary Shares at the Conversion Rate in effect at such time, by surrender of the
Note so to be converted in whole or in part, in the manner provided in Section 402, at any time
during the period beginning on March 27, 2008 and ending immediately prior to the close of business
on the third Business Day immediately preceding the Final Maturity Date, unless the Notes have
previously been redeemed or repurchased; provided, however, that a Holder may not convert its Notes
during any of the following periods (each, an “Excluded Period”) after the Conversion Agent
receives prior notice from the Issuer or the Guarantor that any period is such an Excluded Period:

	 	(1)	 	a period commencing on the date on which an offer by the Guarantor to its
shareholders by way of a rights offering to subscribe for shares, bonds with warrants
or convertible bonds is published in the German Federal Gazette (elektronischer
Bundesanzeiger) and ending on the last day of the subscription period (both dates
inclusive); and
	 
	 	(2)	 	each period commencing on the date that falls two calendar weeks prior to the
end of each of the Guarantor’s financial quarters (or financial years, as the case may
be) and ending on the fourth Trading Day after the date on which the Guarantor
publishes, by press release or by filing with Commission, the Guarantor’s interim
report or annual report for the then most recently ended financial period;

provided further, however that no Excluded Period shall be deemed to occur on any date (i)
following a notice of redemption or (ii) that is 45 days or less prior to the Final Maturity Date.

          (b) Holders may only convert Notes in principal amounts of $1,000; provided, however, that no
conversion may occur that would result in a Note with a minimum denomination of less than $100,000.
In case any Note shall be surrendered for partial conversion, subject to the immediately preceding
sentence, the Issuer shall execute and the Trustee shall authenticate and deliver to or upon the
written order of the Holder of the Notes so surrendered, without charge to such Holder, a new Note
or Notes in an aggregate principal amount equal to the unconverted portion of the surrendered Note.
Upon the conversion of an interest in a Global Note, the Trustee and the Depositary shall reduce
the principal amount of such Global Note in their records.

          (c) A Note in respect of which a Holder is electing to exercise its option to require
repurchase upon a Fundamental Change pursuant to Section 505 hereof may be converted only if such
Holder withdraws its election in accordance with Section 505 hereof. A

20

 

Holder of Notes is not
entitled to any rights of a holder of Ordinary Shares until such Holder has converted his Notes to
Ordinary Shares, and only to the extent such Notes are deemed to have been converted into Ordinary
Shares under this Article Four.

          (d) Each Holder shall be a third-party beneficiary of, and may enforce, the Guarantor’s
promise to issue Ordinary Shares upon conversion of such Holder’s Notes.

          (e) The conversion right can only be exercised if the Conversion Price per Ordinary Share
(expressed in Euro based both on the relevant exchange rate of U.S. dollars for Euros in effect on
each of the issue date of the Notes and the date of submission of the Conversion Notice) is not
less than the notional par value per Ordinary Share in effect as of the Conversion Date. If any of
the so determined conversion prices per Ordinary Share would be less than the notional par value
per Ordinary Share, the latter will be deemed to be the applicable Conversion Price. The Issuer or
Guarantor will file a Form 6-K on or about the issue date of the Notes that will set forth the
relevant exchange rate applicable on the issue date of the Notes. The exchange rate on the date of
the submission of the Conversion Notice is the exchange rate in the interbank market quoted as the
number of U.S. dollars for which one Euro can be exchanged as reported by Reuters on page
“WMRSPOT01” or any substitute page thereto, at approximately 4:00pm, London time or if such
exchange rate is not reported on Reuters as set forth herein, then the applicable exchange rate
will equal the noon buying rate in New York for cable transfers in Euro as announced by the Federal
Reserve Bank of New York for customs purposes, in each case on the date of the submission of the
Conversion Notice.

Section 402. Conversion Procedures.

          (a) The right of conversion attaching to any Note may be exercised (i) if such Note is
represented by a Global Security, by book-entry transfer to the Conversion Agent through the
facilities of the Depositary, or (ii) if such Note is represented by a certificated security, by
delivery of such Note at the specified office of the Conversion Agent, accompanied, in either case,
by a duly signed and completed irrevocable conversion notice (a “Conversion Notice”) in the form
set forth on the reverse of the Note and appropriate endorsements and transfer documents if
required by the Conversion Agent. The “Conversion Date” shall be the date on which the Note and
all of the items required for conversion shall have been so delivered and the requirements for
conversion have been met. Upon receipt by the Conversion Agent of a valid and irrevocable
Conversion Notice from a Holder of Notes, the Conversion Agent shall
deliver pursuant to Section 411
hereof to the Guarantor the Conversion Notice and the duly signed and completed subscription
certificate (only if the Guarantor shall deliver new Ordinary Shares
out of conditional capital or if the Conversion Agent has not,
within two Business Days after the receipt by the Guarantor of the Exercise
Notifications received a notification from the Guarantor of its
decision to deliver existing Ordinary Shares), in duplicate form, in the form set forth as Annex B hereto pursuant to section 198 of
the German Stock Corporation Act (a “Subscription Certificate”) on behalf of such Holder for the
total number of Ordinary Shares into which any Notes subject to such Conversion Notice are
convertible.

          (b) Upon
receipt of the Conversion Notice and the Subscription Certificate
(where applicable), the Guarantor
shall, as soon as practicable following the Conversion Date, issue, out of its conditional capital,
the Ordinary Shares in the name of the ADS Depositary or its nominee, deposit such Ordinary Shares
with the custodian of the ADS Depositary and instruct the ADS Depositary to deliver ADSs
representing such Ordinary Shares to, or to the order of, the converting Noteholder. The Guarantor
shall pay all issuance fees associated with the issuance

21

 

and delivery of the ADSs and deliver any
applicable written acknowledgements, certifications and agreements required by the ADS Deposit
Agreement.

          (c) Instead of issuing and delivering Ordinary Shares out of its conditional capital, the
Guarantor shall have the right, in its sole discretion, to issue and deliver Ordinary Shares from
its authorized capital or to deliver existing Ordinary Shares, as long as such Ordinary Shares have
at least the same dividend entitlement that new Ordinary Shares issued from conditional capital
would have.

          (d) If and to the extent the Guarantor is not legally permitted to issue Ordinary Shares from
conditional capital and it is not legally permissible or commercially reasonable to deliver
existing Ordinary Shares or issue new Ordinary Shares from authorized capital when a Holder
exercises its conversion right, the Guarantor shall pay such Holder a cash amount in lieu of the
issue and delivery of Ordinary Shares. The Guarantor shall inform the converting Holders that a
cash amount will be payable in lieu of issuance and delivery of Ordinary Shares no later than the
second Business Day immediately following the related Conversion Date. Such cash payment will be
equal to the product of (i) the Current Market Value of the Guarantor’s ADSs on the day of the
Conversion Notice and (ii) the number of Ordinary Shares (without rounding, including fractions)
which the Guarantor would otherwise be obliged to deliver upon such conversion.

          (e) The Notes shall be deemed to have been converted immediately prior to the close of
business on the Conversion Date. Upon conversion, converting Holders of the Ordinary Shares to be
represented by the ADSs shall be entitled to participate in the Guarantor’s profit from the
beginning of the financial year in which the Ordinary Shares they received are issued.

          Any newly issued ADSs will be accepted into the book-entry system maintained by the
Depositary, and no Person receiving ADSs shall receive or be entitled to receive physical delivery
of ADSs, except in the limited circumstances set forth in the Deposit Agreement.

Section 403. Cash Payments in Lieu of Fractional Shares.

          No fractional Ordinary Shares shall be issued upon conversion of Notes. If more than one Note
shall be surrendered for conversion at one time by the same Holder, the number of full Ordinary
Shares that shall be issuable upon conversion shall be computed on the basis of the aggregate
principal amount of the Notes (or specified portions thereof to the extent permitted hereby) so
surrendered. If any fractional Ordinary Shares would be issuable upon the conversion of any Note
or Notes, the Issuer shall make an adjustment and payment therefore in cash at the current market
price of the ADSs to the Holder. For purposes of this Section 403, the “current
market price” of an ADS shall be the Closing Sale Price on the last Trading Day immediately
preceding the Conversion Date.

Section 404. Conversion Rate.

          Each $1,000 principal amount of the Notes shall be initially convertible into 137.8379
Ordinary Shares, subject to adjustment as provided in this Article Four (as so adjusted from time
to time, the “Conversion Rate”).

22

 

Section 405. Conversion Rate Adjustment Upon Certain Fundamental Changes.

          (a) If a Holder elects to convert Notes in connection with a Fundamental Change, the Guarantor
shall increase the Conversion Rate pursuant to Section 405(b) hereof. Any conversion of the Notes
by a Holder will be deemed for purposes of this Section 405 to be “in connection with” such
Fundamental Change if it occurs during the period that begins on (and includes) the later of (i)
the 15th scheduled Trading Day prior to the date on which such Fundamental Change is
anticipated to become effective or (ii) promptly upon the Guarantor becoming aware of such event,
and ends on (and includes) the Repurchase Date relating to such Fundamental Change as described
under the Section 505 hereof. The Issuer shall give written notice of an anticipated Fundamental
Change to all record Holders of the Notes no later than the 15th scheduled Trading Day prior to the
date on which such Fundamental Change is anticipated to become effective or, if later, promptly
upon the Guarantor becoming aware of such event (it being understood that only the actual knowledge
of the Guarantor’s senior management shall constitute awareness under this Section 405).

          (b) The increase in the Conversion Rate will be based in the case of a Fundamental Change, on
the earliest of the date on which the Fundamental Change is publicly announced, occurs or becomes
effective (such date is referred to herein as “Adjustment Date”), and will be made in accordance
with the following formula:

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	

    CRa = CR × 

	
 
	
    [
    
	
 
	
    1 + 
	
 
	
    (
    
	
 
	
    Pr × 
	
 
	
    c

    
t
	
 
	
    )]
    

where :

	 	 	 	 	 
	CRa

	 	=
	 	the adjusted Conversion Rate;
	 
	 	 	 	 
	CR

	 	=
	 	the Conversion Rate immediately prior to the Adjustment Date;
	 
	 	 	 	 
	Pr

	 	=
	 	the initial conversion premium of 35%;
	 
	 	 	 	 
	c

	 	=
	 	the number of days from and including the Adjustment Date to but excluding
the Final Maturity Date of the Notes; and
	 
	 	 	 	 
	t

	 	=
	 	the number of days from and including the issue date of the Notes to but
excluding the Final Maturity Date of the Notes.

          (c) Any adjustment of the Conversion Rate and the delivery of Ordinary Shares upon conversion
is subject to the limitations described in Section 401 hereof.

          No adjustment to the Conversion Rate will be made to the extent that the Conversion Price per
Ordinary Share (expressed in Euro based on the exchange rate of U.S. dollars for Euros in effect on
the date the adjustment becomes effective) would thereby be reduced below the notional par value
per Ordinary Share in effect as of the date the adjustment becomes effective. In such case, the
conversion price will be the notional par value per Ordinary Share. The relevant exchange rate of
U.S. dollars for Euros is the exchange rate in the interbank

23

 

market quoted as the number of U.S.
dollars for which one Euro can be exchanged as reported by Reuters on page “WMRSPOT01” or any
substitute page thereto, at approximately 4:00pm, London time, or if such exchange rate is not
reported on Reuters as set forth herein, then the applicable exchange rate will equal the noon
buying rate in New York for cable transfers in Euro as announced by the Federal Reserve Bank of New
York for customs purposes, in each case on the Adjustment Date.

          (d) Notice of Adjustment. Whenever the Conversion Ratio is adjusted, the Guarantor shall
promptly mail to the Holders a notice of the adjustment. The Guarantor
shall file with the Trustee such notice and a Officer’s
Certificate briefly stating the facts requiring the adjustment and
the manner of computing it. Unless and until the Trustee shall receive a Officer’s
Certificate setting forth an adjustment of the Conversion Ratio, the Trustee may assume without
inquiry that the Conversion Ratio has not been adjusted and that the last Conversion Ratio of which
it has knowledge remains in effect. The certificate shall be conclusive evidence that the
adjustment is correct. The Trustee shall not be under any duty or responsibility with respect to
any such certificate except to exhibit the same to any Holder desiring inspection thereof.

Section 406. General Conversion Rate Adjustments

          (a) The Conversion Rate will be adjusted, without duplication, upon the occurrence of any of
the following events:

          (1) The issuance of Ordinary Shares as a dividend or distribution on the Ordinary
Shares, which includes a capital increase from capital reserves or retained earnings in
accordance with German law, in which event the Conversion Rate will be adjusted based on the
following formula:

     where

	 	 	 	 	 
	CR0

	 	=
	 	the Conversion Rate in effect immediately prior to the ex-date for such
dividend or distribution;
	 
	 	 	 	 
	CR1

	 	=
	 	the Conversion Rate in effect at the beginning of the ex-date for such
dividend or distribution;
	 
	 	 	 	 
	OS0

	 	=
	 	the number of Ordinary Shares outstanding immediately prior to the ex-date
for such dividend or distribution; and
	 
	 	 	 	 
	OS1

	 	=
	 	the number of Ordinary Shares that would be outstanding immediately after
such event assuming such event occurred at the beginning of the ex-date.

24

 

          Such adjustment shall become effective immediately after the opening of business on the
ex-date for such dividend or distribution.

          (2) A subdivision of the outstanding Ordinary Shares into a greater number of Ordinary
Shares, including a reduction of the share capital represented by each Ordinary Share under
German law or, conversely, in the event the outstanding Ordinary Shares are combined into a
smaller number of Ordinary Shares, including an increase in the interest in the share
capital represented by each Ordinary Share with no change in the share capital under German
law, in which events the Conversion Rate will be adjusted using the formula in paragraph (1)
above. Such adjustment shall become effective immediately after the effective date of such
subdivision or merger.

          (3) The grant to all holders of Ordinary Shares of any rights or options, warrants or
other rights per Ordinary Share to subscribe for or acquire Ordinary Shares or securities
convertible or exchangeable into Ordinary Shares for a period expiring 45 days or less from
the date of issue of such rights, options or warrants, in which case the Conversion Rate
shall be adjusted based on the following formula:

     where

	 	 	 	 	 
	CR0

	 	=
	 	the Conversion Rate in effect immediately prior to the ex-date for such
distribution;
	 
	 	 	 	 
	CR1

	 	=
	 	the Conversion Rate in effect at the beginning of the ex-date for such
distribution;
	 
	 	 	 	 
	OS0

	 	=
	 	the number of Ordinary Shares outstanding immediately prior to the ex-date
for such distribution,
	 
	 	 	 	 
	X

	 	=
	 	the total number of Ordinary Shares issuable pursuant to such options,
warrants or rights; and
	 
	 	 	 	 
	Y

	 	=
	 	the number of Ordinary Shares equal to the quotient of (a) the aggregate
price payable to exercise all of such options, warrants or rights and (b) the Current
Market Value per Ordinary Share on the Trading Day preceding the ex-date for such
distribution.

          Such adjustment shall become effective immediately after the opening of business on the
ex-date for such distribution.

          (4) A dividend or other distribution to all holders of the Guarantor’s Ordinary Shares
or shares of the Guarantor’s capital stock (other than Ordinary Shares) or evidences of
indebtedness or assets (excluding (A) any dividend, distribution or issuance covered by
clause (1), (2) or (3) above, (B) any dividend or distribution paid

25

 

exclusively in cash and
(C) any dividend or distribution of securities that either are or represent equity interests
in a successor, split-up or spin-off entity as provided for in clause (5) below), in which
event the Conversion Rate will be adjusted based on the following formula:

where

	 	 	 	 	 
	CR0

	 	=
	 	the Conversion Rate in effect immediately prior to the ex-date for such
distribution;
	 
	 	 	 	 
	CR1

	 	=
	 	the Conversion Rate in effect at the beginning of the ex-date for such
distribution;
	 
	 	 	 	 
	SP0

	 	=
	 	the Current Market Value per Ordinary Share on the last Trading Day
preceding the ex-date for such distribution; and
	 
	 	 	 	 
	FMV

	 	=
	 	the fair market value (as determined by the Guarantor’s Management Board in
good faith and using equitable discretion pursuant to Section 317 of the German Civil
Code) of the shares of capital stock, evidences of indebtedness, assets or property so
distributed with respect to each outstanding Ordinary Share on the ex-date for such
distribution.

          Such adjustment shall become effective immediately after the opening of business on the
ex-date for such distribution.

          (5) In the event of a merger of the Guarantor as a transferor entity pursuant to the
German Transformation Act (Umwandlungsgesetz) or a split-up (Aufspaltung within the meaning
of Section 123(1) of the German Transformation Act) or a spin-off (Abspaltung within the
meaning of Section 123(2) of the German Transformation Act) of the Guarantor, a Holder of
Notes upon exercise of its conversion right (in the case of any partial split-up or spin-off
by the Guarantor, in addition to its right to receive Ordinary Shares upon exercise of his
conversion right) shall be entitled to Ordinary Shares or shares of the successor, split-up or spin-off entity or entities, as
the case may be (the “Successor Entity Shares”) as is calculated pursuant to the following
formula and thereafter the provisions of the Indenture shall apply to the new Successor
Entity Shares; any remaining fractions of Successor Entity Shares resulting from the
conversion shall be eliminated without any payment being made to Holders entitled thereto:

	 	 	 	 	 
	CRs

	 	=
	 	the Conversion Rate with respect to the Successor Entity Shares,

26

 

	 	 	 	 	 
	CR0

	 	=
	 	the Conversion Rate in effect immediately prior to the ex-date for such
merger, split-up or spin-off,
	 
	 	 	 	 
	SE

	 	=
	 	the number of Successor Entity Shares to which a shareholder of the Guarantor
is entitled to with respect to one Ordinary Share.

          (6) A dividend or other distribution consisting exclusively of cash (excluding any cash
distributed upon an amalgamation, merger, share exchange, consolidation or combination) to all
holders of Ordinary Shares, in which event the Conversion Rate will be adjusted based on the
following formula:

     where

	 	 	 	 	 
	CR0

	 	=
	 	the Conversion Rate in effect immediately prior to the ex-date for such
dividend or distribution;
	 
	 	 	 	 
	CR1

	 	=
	 	the Conversion Rate in effect at the beginning of the ex-date for such
dividend or distribution;
	 
	 	 	 	 
	SP0

	 	=
	 	the Current Market Value per Ordinary Share on the Trading Day preceding
the ex-date for such dividend or distribution; and
	 
	 	 	 	 
	C

	 	=
	 	the amount in cash per share of such distribution (and for which no
adjustment has been made).

          Such adjustment shall become effective immediately after the opening of business on the
ex-date for such dividend or distribution.

          (7) The Guarantor or one or more of its Subsidiaries make purchases of Ordinary Shares
pursuant to a tender offer or exchange offer by the Guarantor or one of its Subsidiaries for
Ordinary Shares to the extent that the cash and value of any other consideration included in the
payment per Share exceeds the Current Market Value per Ordinary Share on the Trading Day next
succeeding the last date on which tenders or exchanges may be made pursuant
to such tender or exchange offer (the “Expiration Date”), in which event the Conversion Rate
will be adjusted based on the following formula:

	 	 	 	 	 
	CR0

	 	=
	 	the Conversion Rate in effect on the Expiration Date;
	 
	 	 	 	 
	CR1

	 	=
	 	the Conversion Rate in effect immediately after the Expiration Date;

27

 

	 	 	 	 	 
	FMV

	 	=
	 	the fair market value (as determined by the Guarantor’s Management Board in
good faith and using equitable discretion pursuant to Section 317 of the German Civil
Code) of the aggregate value of all cash and any other consideration paid or payable
for Ordinary Shares validly tendered or exchanged and not withdrawn as of the
Expiration Date (the “Purchased Shares”);
	 
	 	 	 	 
	OS1

	 	=
	 	the number of Ordinary Shares outstanding immediately after the Expiration
Date less any Purchased Shares;
	 
	 	 	 	 
	OS0

	 	=
	 	the number of Ordinary Shares outstanding immediately after the Expiration
Date, including any Purchased Shares; and
	 
	 	 	 	 
	SP1

	 	=
	 	the Closing Sale Price of the Ordinary Shares on the Trading Day next
succeeding the Expiration Date.

          Such adjustment shall become effective immediately prior to the opening of business on the
Trading Day immediately succeeding the Expiration Date.

          (b) No adjustment to the Conversion Rate will be made to the extent that the conversion price
per Ordinary Share (expressed in Euro based on the exchange rate of U.S. dollars for Euros in
effect on the date the adjustment becomes effective) would thereby be reduced below the notional
par value per Ordinary Share (which is €2.00 as of the date hereof) in effect as of the date the adjustment
becomes effective. In such case, the conversion price will be the notional par value per Ordinary
Share. The relevant exchange rate of U.S dollars for Euros is the exchange rate in the interbank
market quoted as the number of U.S. dollars for which one Euro can be exchanged as reported by
Reuters on page “WMRSPOT01” or any substitute page thereto, at approximately 4:00pm, London time,
or if such exchange rate is not reported on Reuters as set forth herein, then the applicable
exchange rate will equal the noon buying rate in New York for cable transfers in Euro as announced
by the Federal Reserve Bank of New York for customs purposes, in each case on the date the
adjustment becomes effective.

          (c) No adjustment to the Conversion Rate will be made if the Holders of Notes will, as a
result of holding the Notes, participate in the distribution without conversion or in the cases set
forth below.

          The Conversion Rate will not be adjusted except as described in the Indenture. Without
limiting the foregoing, the Conversion Rate will not be adjusted:

          (1) upon the issuance of any options or any of the Ordinary Shares pursuant to any
present or future stock option plan of the Guarantor or any of its Subsidiaries;

          (2) upon the issuance of any Ordinary Shares pursuant to any option, warrant, right or
exercisable, exchangeable or convertible security not described in clause (1) above and
Outstanding as of the date the Notes were first issued;

28

 

          (3) for changes in the nominal value of the Ordinary Shares not covered by the
adjustments set forth in this Indenture;

          (4) in the event of a decrease in the Guarantor’s share capital which is solely the
result of a reduction of the interest in the share capital represented by each Ordinary
Share; or

          (5) for accrued and unpaid interest.

          (d) For purposes of this Section 406, the number of Ordinary Shares at any time outstanding
shall not include Ordinary Shares held in the treasury of the Guarantor. The Guarantor will not
pay any dividend or make any distribution on Ordinary Shares held in the treasury of the Guarantor.
Whenever any provision of this Section 406 requires a calculation of a number of Ordinary Shares
equal to the sum or an average of Closing Sale Prices over a span of multiple days, appropriate
adjustments shall be made to account for any adjustment to the Conversion Rate that becomes
effective, or any or adjustment to the Conversion Rate where the ex-date of the event occurs, at
any time during the period from which the sum or average is to be calculated.

Section 407. Effect of Consolidation, Merger or Sale.

          In the event of:

          (1) a consolidation, merger or combination involving the Guarantor, including such
measures under the German Transformation Act (UmwG); or

          (2) a sale, conveyance, transfer or lease to another person of all or substantially all
of the Guarantor’s property and assets as an entirety,

     which, in each case, is not an event covered by the adjustment provisions set forth in
Sections 405 and 406 in which holders of the Guarantor’s outstanding Ordinary Shares (including
Ordinary Shares represented by ADSs) would be entitled to receive shares, other than Ordinary
Shares, other securities, other property, assets or cash for their Ordinary Shares, Holders of
Notes will, pursuant to the terms of the Indenture, thereafter be entitled to exchange their Notes,
in lieu of ADSs otherwise deliverable, into the same type and amount of shares,
other securities, other property, assets or cash which they would have owned or been entitled
to receive upon such consolidation, merger, combination, sale, transfer, lease or conveyance had
such Notes been converted into Ordinary Shares immediately prior to such consolidation, merger,
combination, sale, transfer, lease or conveyance. For purposes of the foregoing, the type and
amount of such consideration that a holder of Ordinary Shares received in the case of a
consolidation, merger, combination, sale, transfer, lease or conveyance that caused Ordinary Shares
to be exchanged for more than a single type of such consideration (determined based in part upon
any form of shareholder election) will be deemed to be the weighted average by value as of the
last day on which such election could be made, as determined by the Guarantor’s Management Board,
of such types and amounts of consideration received by all holders of the Guarantor’s Ordinary
Shares.

29

 

Section 408. General Provisions Applicable to Adjustments

          (a) Any adjustment of the Conversion Rate and the delivery of Ordinary Shares upon conversion
is subject to the limitations described under Section 401 hereof.

          (b) To the extent that the number of Ordinary Shares represented by each ADS is changed,
appropriate adjustments to the Conversion Rate adjustments described in this Article Four will be
made to reflect such change such that the result of such change to the number of Ordinary Shares
represented by each ADS and the modified Conversion Rate adjustment achieves the same economic
result that would have been achieved by the adjustments set forth in the absence of a change to the
number of Ordinary Shares represented by each ADS.

          (c) All calculations and determinations under this Article Four shall be made by the
Management Board of the Guarantor in good faith and using equitable discretion pursuant to Section
317 of the German Civil Code. Adjustments to the applicable Conversion Rate will be calculated to
the nearest 1/10,000th of an Ordinary Share. The Guarantor shall not be required to
make an adjustment in the Conversion Rate unless the adjustment would require a change of at least
1% in the Conversion Rate. However, the Guarantor shall carry forward any adjustments that are
less than 1% of the Conversion Rate and make such carried forward adjustments, regardless of
whether the aggregate adjustment is less than 1%, upon a Fundamental
Change, on the day of a Redemption Notice or on the Interest Payment
Date next preceding the Final
Maturity Date.

          (d) The Guarantor shall have the power to resolve any ambiguity or correct any error in the
adjustments described above, and, if made in good faith and using equitable discretion (pursuant to
Section 317 of the German Civil Code) the Guarantor’s action in so doing, as evidenced by a
resolution of its Management Board, will be final and conclusive.

Section 409. Taxes on ADSs Issued.

          Holders shall not be required to pay any taxes or duties relating to the issuance or delivery
of ADSs upon exercise of conversion rights, but they shall be required to pay any tax or duty which
may be payable relating to any transfer involved in the issuance or delivery of the ADSs in a name
other than the name of the Holder. If applicable, certificates representing ADSs
will be issued or delivered only after all applicable taxes and duties, if any, payable by the
Holder have been paid.

Section 410. Reservation of ADSs; ADSs to be Fully Paid; Compliance with Governmental Requirements;
Listing of ADSs; Notice.

          (a) The Guarantor covenants that all Ordinary Shares which may be issued upon conversion of
Notes will upon issue be fully paid and non-assessable by the Guarantor and free from all taxes,
liens and charges with respect to the issue by the Guarantor thereof.

          (b) The Guarantor will endeavor promptly to comply with all U.S. federal securities laws
regulating the offer and delivery of ADSs or Ordinary Shares upon conversion of Notes, if any, and
will list or cause to have quoted such ADSs on each securities exchange or in the over-the-counter
market or such other market on which the ADSs are then listed or quoted.

30

 

Section 411.
Responsibility of Trustee.

          (a) Upon receipt by the Conversion Agent of a duly signed and completed
irrevocable Conversion Notice and the Notes delivered pursuant to such Conversion Notice, the
Conversion Agent will verify that the Conversion Notice contains all information and examine
whether the number of Notes delivered to the Conversion Agent is identical to the number of Notes
specified in the Conversion Notice. The Conversion Agent will notify the Guarantor in writing
without undue delay of the exercise of conversion rights (the “Exercise Notification”). The
Guarantor shall immediately, but in any event no later than two business days after its receipt of
the Exercise Notification, notify the Conversion Agent whether it will deliver new Ordinary Shares
out of conditional capital or existing Ordinary Shares. To the extent the Guarantor notifies the
Conversion Agent of its decision to deliver new Ordinary Shares out of conditional capital, or to
the extent the Conversion Agent has not within two business days after the receipt by the Guarantor
of the Exercise Notification received a notification by the Guarantor of its decision to deliver
existing Ordinary Shares, the Conversion Agent will promptly deliver a completed and duly signed
Subscription Certificate (in the German language), in duplicate form, to the Guarantor, together
with the Conversion Notice. By accepting the Notes, the Noteholders authorize and agree to the
Conversion Agent executing and signing the Subscription Certificate on their behalf. If the
Guarantor informs the Conversion Agent that it will deliver existing Ordinary Shares instead of new
Ordinary Shares, the Conversion Agent will deliver only the Conversion Notice to the Guarantor.

          (b) Subject
to Section 411(a), the Trustee and any
other Conversion Agent shall not at any time be under any duty or responsibility to any Holder to
make any calculations under this Article Four, including any calculation made to determine the
Conversion Rate or whether any facts exist which may require any adjustment of the Conversion Rate,
or with respect to the nature or extent or calculation of any such adjustment when made, or with
respect to the method employed, or herein or in any supplemental indenture provided to be employed,
in making the same. The Trustee and any other Conversion Agent shall not be accountable with
respect to the validity or value (or the kind or amount) of any ADSs, or of any securities or
property, which may at any time be issued or delivered upon the conversion of any Note; and the
Trustee and any other Conversion Agent make no representations with respect thereto. Neither the
Trustee nor any Conversion Agent shall be responsible for any failure of the Issuer or Guarantor to
issue, transfer or deliver any ADSs or other securities or property or cash upon the surrender of
any Note for the purpose of conversion or to comply with any of the duties, responsibilities or
covenants of the Issuer and the Guarantor contained in this Article Four. Without limiting the
generality of the foregoing, neither the Trustee nor any Conversion Agent shall be under any
responsibility to determine the correctness of any provisions contained in any supplemental
indenture entered into pursuant to Section 407 hereof relating either to the kind or amount of ADSs
or securities or property (including cash) receivable by Holders upon the conversion of their Notes
after any event referred to in such Section 407 or to any adjustment to be made with respect
thereto, but, may accept as conclusive evidence of the correctness of any such provisions, and
shall be protected in relying upon, the Officers’ Certificate (which the Issuer shall be obligated
to file with the Trustee prior to the execution of any such supplemental indenture) with respect
thereto.

Section 412. Notice to Holders Prior to Certain Actions.

          (a) The Issuer or the Guarantor must
give notice of each prospective Fundamental Change to all record Holders and to the Trustee on a
date that is at least 15 trading days prior to the anticipated effective date of the Fundamental
Change (or, if neither the Issuer or the Guarantor have actual notice of a prospective Fundamental
Change 20 trading days prior to the effective date, as soon as the Issuer or the Guarantor have
actual notice of the Fundamental Change).

          (b) In case:

	 	(i)	 	the Guarantor shall declare a dividend or any
other distribution on its Ordinary Shares that would require an
adjustment in the Conversion Rate pursuant to Section 406 hereof; or
	 
	 	(ii)	 	the Guarantor shall authorize the granting to
all holders of its Ordinary Shares of rights, options, warrants or
other rights to subscribe for or acquire any Ordinary Shares or
securities convertible or exchangeable into Ordinary Shares that would
require an adjustment in the Conversion Rate pursuant to Section 406
hereof; or

31

 

	 	(iii)	 	of any consolidation, merger, combination,
split-up or spin-off to which the Guarantor is a party and for which
approval of any stockholders of the Guarantor is required, or of the
conveyance, transfer, sale or lease by the Guarantor to another person
of all or substantially all of the Guarantor’s property and assets as
an entirety; or
	 
	 	(iv)	 	of the voluntary or involuntary dissolution,
liquidation or winding up of the Guarantor;

          the Issuer shall cause to be filed with the Trustee and to be provided to each Holder, as
promptly as possible but in any event at least twenty (20) calendar days prior to the applicable
date hereinafter specified, a notice stating (x) the date on which a record is to be taken for the
purpose of such dividend, distribution or rights, options or warrants, or, if a record is not to be
taken, the date as of which the holders of Ordinary Shares of record to be entitled to such
dividend, distribution or rights are to be determined, or (y) the date on which such consolidation,
merger, combination, split-up, spin-off, conveyance, transfer, sale or lease, dissolution,
liquidation or winding up is expected to become effective or occur, and the date as of which it is
expected that holders of Ordinary Shares of record shall be entitled to exchange their Ordinary
Shares for securities or other property deliverable upon such consolidation, merger, combination,
split-up, spin-off, conveyance, transfer, sale or lease, dissolution, liquidation or winding up.
Failure to give such notice, or any defect therein, shall not affect the legality or validity of
such dividend, distribution, consolidation, merger, combination, split-up, spin-off, conveyance,
transfer, sale or lease, dissolution, liquidation or winding up.

Section 413. Rights Issued in Respect of Common Stock Issued Upon Conversion.

          Each Ordinary
Share represented by ADS issued upon conversion of Notes pursuant to this Article Four shall be
entitled to receive the appropriate number of Ordinary Share purchase rights, as the case may be
(the “Rights”), if any, that Ordinary Shares are entitled to receive and the certificates
representing the ADSs issued upon such conversion shall bear such legends, if any, in each case as
may be provided by the terms of any shareholder rights agreement adopted by the Issuer, as the same
may be amended from time to time (in each case, a “Rights Agreement”). Provided that such Rights
Agreement requires that each Ordinary Share issued upon conversion of Notes at any time prior to
the distribution of separate certificates representing the Rights be entitled to receive such
Rights, then, notwithstanding anything else to the contrary in this Article Four there shall not be
any adjustment to the conversion privilege or Conversion Rate as a result of the issuance of
Rights, but an adjustment to the Conversion Rate shall be made with respect to Notes then
Outstanding pursuant to Section 406 hereof (to the extent required thereby) upon the separation of
the Rights from the common shares.

32

 

ARTICLE FIVE

REDEMPTION AND REPURCHASE OF NOTES

Section 501. Redemption of Notes at the Option of the Issuer

          Except as set forth under Sections
501-1 and 501-2, the Issuer may not redeem the Notes prior to April 1, 2011. The Issuer may, by
giving not less than 30 nor more than 60 days’ notice, redeem some or all of the Notes for cash on
or after April 1, 2011 at 100% of their principal amount, plus accrued and unpaid interest and
Additional Amounts, if any, to but excluding the Redemption Date if the closing sale price of the
ADSs for 20 Trading Days within a period of 30 consecutive Trading Days ending on the Trading Day
before the date of mailing of the redemption notice exceeds 150% of the applicable conversion price
on the last Trading Day of the period. The Redemption Date may not fall in the period beginning on
an interest Record Date and ending two Business Days following the related Interest Payment Date
(the “Redemption Excluded Period”).

Section 501-1 Early Redemption at the Option of the Issuer for Reasons of Insufficient Outstanding
Principal Amount

          If at any time the aggregate principal amount of Outstanding Notes falls below 10% of the
aggregate principal amount of Notes initially issued hereunder, the Issuer is entitled, by giving
not less than 20 nor more than 40 days’ notice to redeem the remaining Notes in whole, but not in
part, at 100% of their principal amount together with interest accrued, and Additional Amounts, if
any, to (but excluding) the Redemption Date. The Redemption Date may not fall during a Redemption
Excluded Period. If the end of the notice period falls within a Redemption Excluded Period then
the notice shall be considered to have been given five Business Days after the end of such
Redemption Excluded Period.

Section 501-2 Redemption upon Changes in Withholding Taxes

          (a) The Issuer may, at its option, redeem the Notes, in whole but not in part, at any time
(but not during a Redemption Excluded Period) upon giving not less than 30 nor more than 60 days’
notice to the Holders (which notice shall be irrevocable), at a Redemption Price equal to 100% of
the principal amount thereof, together with accrued and unpaid interest thereon, if any, to the
Redemption Date, and all Additional Amounts, if any, then due and which will become due on the
Redemption Date as a result of the redemption or otherwise, if the Issuer determines in good faith
that the Issuer is, or on the next date on which any amount would be payable in respect of the
Notes would be, obligated to pay aggregate Additional Amounts which the Issuer cannot avoid by the
use of reasonable measures (including making payment through a paying agent located in another
jurisdiction) as a result of:

	 	(i)	 	any change in, or amendment to, the laws or
treaties (or any regulations or rulings promulgated thereunder) of any
Relevant Taxing Jurisdiction affecting taxation which becomes effective
on or after the date of this First Supplemental Indenture, or, if the
Relevant Taxing Jurisdiction has changed since the date of this

33

 

	 	 	 	First Supplemental Indenture, the date on which the then current
Relevant Taxing Jurisdiction became the Relevant Taxing Jurisdiction
under this First Supplemental Indenture (or, in the case of a
successor person, after the date of assumption by the successor
person of the Issuer’s obligations hereunder); or
	 
	 	(ii)	 	any change in the official application,
administration, or interpretation of the laws, treaties, regulations or
rulings of any Relevant Taxing Jurisdiction (including a holding,
judgment, or order by a court of competent jurisdiction), on or after
the date of this First Supplemental Indenture or, if the Relevant
Taxing Jurisdiction has changed since the date of this First
Supplemental Indenture, the date on which the then current Relevant
Taxing Jurisdiction became the Relevant Taxing Jurisdiction under this
First Supplemental Indenture (or, in the case of a successor person,
after the date of assumption by the successor person of the Issuer’s
obligations hereunder), each of the foregoing clauses (i) and (ii)
referred to herein as a “Change in Tax Law.”

          (b) Notwithstanding the foregoing, the Issuer may not redeem the Notes under this provision if
the Relevant Taxing Jurisdiction changes under the First Supplemental Indenture and the Issuer is
obligated to pay Additional Amounts as a result of a Change in Tax Law of the then current Relevant
Taxing Jurisdiction which, at the time the latter became the Relevant Taxing Jurisdiction under
this First Supplemental Indenture, was publicly announced as being or having been formally
proposed.

          (c) In the case of a successor person, the Change in Tax Law must become effective after the
date that such entity (or another Person organized or resident in the same jurisdiction) first
makes a payment on the Notes. In the case of Additional Amounts required to be paid as a result of
the Issuer conducting business in an Additional Taxing Jurisdiction, the Change in Tax Law must
become effective after the date the Issuer begins to conduct the business giving rise to the
relevant withholding or deduction.

          (d) No such notice of redemption will be given (a) earlier than 90 days prior to the earliest
date on which the Issuer would be obliged to make such payment of Additional Amounts or withholding
if a payment in respect of the Notes were then due and (b) unless at the time such notice is given,
the obligation to pay Additional Amounts remains in effect.

          (e) Prior to the publication or where relevant, mailing of any notice of redemption pursuant
to the foregoing, the Issuer shall deliver to the Trustee:

	 	(i)	 	an Officers’ Certificate stating that the
Issuer is entitled to effect such redemption and setting forth a
statement of facts showing the conditions precedent to the right to
redeem have occurred (including that such obligation to pay such
Additional Amounts cannot be avoided by the Issuer taking reasonable
measures available to it); and

34

 

	 	(ii)	 	an Opinion of Counsel of independent tax
counsel of recognized standing qualified under the laws of the Relevant
Taxing Jurisdiction that the Issuer is or would be
obligated to pay such Additional Amounts as a result of a Change in Tax
Law.

          (f) Absent manifest error, the Trustee will accept such Officers’ Certificate and Opinion of
Counsel as sufficient evidence of the existence of satisfaction of the conditions precedent as
described above, in which event it will be conclusive and binding on the Holders.

          (g) This Section 501-2 shall apply to any successor person, after such successor person
becomes a party to this First Supplemental Indenture, with respect to a Change in Tax Law occurring
after the time such successor person becomes a party to this First Supplemental Indenture.

          (h) Notwithstanding the foregoing, if the Issuer has given a notice to redeem the Notes as a
result of a Change in Tax Law, each Holder will have the right to elect, and each such notice of
redemption will state that each Holder will have the right to elect, that its Notes should not be
redeemed and that the Issuer shall thereafter have no obligation to pay Additional Amounts, as
described above, in respect of any payment on the Notes after the due date set for such redemption
and payment of any amount on the Notes shall be subject to the deduction or withholding of the
taxation required to be withheld. The right of each Holder shall be exercised by the Holder giving
notice to the Issuer no later than ten days prior to the date set for redemption.

          (i) Furthermore, if the Issuer has given a notice to redeem the Notes as a result of a Change
in Tax Law, each Holder will also have the right to convert its Notes, in whole or in part, at any
time during the period commencing on the date of such notice and ending on the date set for
redemption.

Section 502. Notice of Optional Redemption; Selection of Notes.

          (a) In case the Issuer shall
desire to exercise the right to redeem all or, as the case may be, any part of the Notes pursuant
to Section 501, 501-1 or 501-2 hereof, it shall fix a date for redemption (each, a “Redemption
Date”) and it or, at its written request received by the
Trustee not fewer than forty-five (45) days
(or such shorter period of time as may be acceptable to the Trustee) prior to the date the notice
of redemption is to be delivered, the Trustee in the name of and at the expense of the Issuer,
shall mail or cause to be mailed a notice of such redemption not fewer than thirty (30) nor more
than sixty (60) days, in the case of a redemption pursuant to Section 501-1 hereof, or not fewer
than twenty (20) nor more than forty (40) days, in the case of a redemption pursuant to Section 501
or 501-2 prior to the Redemption Date to each Holder of Notes so to be redeemed as a whole or in
part at its last address as the same appears on the Security Register; provided that if the Issuer
shall give such notice, it shall also give written notice of the Redemption Date to the Trustee.
Such mailing shall be by first class mail. The notice, if mailed in the manner herein provided,
shall be conclusively presumed to have been duly given, whether or not the Holder receives such
notice. In any case, failure to give such notice by mail or any defect in the notice to the Holder
of any Note designated for redemption as a whole or in part shall not affect the validity of the
proceedings for the redemption of any other

35

 

Note. Concurrently with the mailing of any such notice of redemption, the Issuer shall issue
a press release announcing such redemption, the form and content of which press release shall be
determined by the Issuer in its sole discretion. The failure to issue any such press release or
any defect therein shall not affect the validity of the redemption notice or any of the proceedings
for the redemption of any Note called for redemption.

          (b) Each such notice of redemption shall be irrevocable and shall specify: (i) the aggregate
principal amount of Notes to be redeemed, (ii) the CUSIP number or numbers of the Notes being
redeemed, (iii) the Redemption Date (which shall be a Business Day), (iv) the Redemption Price at
which Notes are to be redeemed, (v) the place or places of payment and that payment will be made
upon presentation and surrender of such Notes, (vi) that interest accrued and unpaid to, but
excluding, the Redemption Date will be paid as specified in said notice, and that on and after said
date interest thereon or on the portion thereof to be redeemed will cease to accrue, (vii) that the
Holder has a right to convert the Notes called for redemption, (viii) the Conversion Rate on the
date of such notice, (ix) the time and date on which the right to convert such Notes or portions
thereof will expire, (x) the method of calculating the number of ADSs to be delivered to the Holder
upon conversion pursuant to Article Five of this First Supplemental Indenture with respect to any
conversions made prior to the Redemption Date (xi) that the Issuer will pay cash for fractional
interests in Ordinary Shares, if any, as provided in this First Supplemental Indenture with respect
to any conversions made prior to the Redemption Date and (xii) in case of a redemption pursuant to
Section 501-2 hereof, that each Holder will have the right to elect that its Notes should not be
redeemed and that the Issuer shall thereafter have no obligation to pay Additional Amounts in
respect of any payments on the Notes after the due date set for such redemption and payment of any
amount on the Notes shall be subject to the deduction or withholding of the taxation to be
withheld. If fewer than all the Notes are to be redeemed, the notice of redemption shall identify
the Notes to be redeemed (including CUSIP numbers, if any). In case any Note is to be redeemed in
part only, the notice of redemption shall state the portion of the principal amount thereof to be
redeemed and shall state that, on and after the Redemption Date, upon surrender of such Note, a new
Note or Notes in principal amount equal to the unredeemed portion thereof will be issued.

          (c) On or prior to the Redemption Date specified in the notice of redemption given as provided
in this Section 502, the Issuer will deposit with the Trustee or with one or more Paying Agents
(or, if the Issuer is acting as the Paying Agent, set aside, segregate and hold in trust as
provided in Section 1003 of the Base Indenture) an amount of money in immediately available funds
sufficient to redeem on the Redemption Date all the Notes (or portions thereof) so called for
redemption (other than those theretofore surrendered for conversion into Ordinary Shares) at the
Redemption Price, together with accrued interest and Additional Amounts, if any, to, but excluding,
the Redemption Date; provided that if such payment is made on the Redemption Date it must be
received by the Trustee or Paying Agent, as the case may be, by 10:00 a.m. New York City time on
such date. The Issuer shall be entitled to retain any interest, yield or gain on amounts deposited
with the Trustee or any Paying Agent pursuant to this Section 502 in excess of amounts required
hereunder to pay the Redemption Price and accrued interest to, but excluding, the Redemption Date.
If any Note called for redemption is converted pursuant hereto prior to such Redemption Date, any
money deposited with the Trustee or any Paying Agent or so segregated and held in trust for the
redemption of such Note and accrued interest thereon to, but excluding, the Redemption Date shall
be paid to the Issuer upon its written

36

 

request, or, if then held by the Issuer, shall be discharged from such trust. Whenever any
Notes are to be redeemed pursuant to Section 501, 501-1 or 501-2 hereof, the Issuer will give the
Trustee written notice in the form of an Officers’ Certificate not fewer than forty-five (45) days
(or such shorter period of time as may be acceptable to the Trustee) prior to the Redemption Date
as to the aggregate principal amount of Notes to be redeemed.

          (d) In the event that less than all of the Notes are to be redeemed pursuant to a redemption
at the option of the Issuer, selection of the Notes for redemption will be made by the Trustee in
compliance with the rules of the national securities exchange, if any, on which the Notes are then
listed or, if the Notes are not then listed, on a pro rata basis, by lot or by such method as the
Trustee shall deem fair and appropriate; provided, however, that no Notes of a principal amount of
less than $100,000 shall be redeemed in part. If any Note selected for partial redemption is
submitted for conversion in part after such selection, the portion of such Note submitted for
conversion shall be deemed (so far as may be possible) to be the portion to be selected for
redemption. The Notes (or portions thereof) so selected shall be deemed duly selected for
redemption for all purposes hereof, notwithstanding that any such Note is submitted for conversion
in part before the mailing of the notice of redemption.

          (e) Upon any redemption of less than all of the Outstanding Notes, the Issuer and the Trustee
may (but need not), solely for purposes of determining the pro rata allocation among such Notes as
are unconverted and Outstanding at the time of redemption, treat as Outstanding any Notes
surrendered for conversion during the period of fifteen (15) days next preceding the mailing of a
notice of redemption and may (but need not) treat as Outstanding any Note authenticated and
delivered during such period in exchange for the unconverted portion of any Note converted in part
during such period.

Section 503. Payment of Notes Called for Redemption by the Issuer.

          If notice of redemption has
been given as provided in Section 502, the Notes or portion of Notes with respect to which such
notice has been given shall, unless converted pursuant to the terms hereof, become due and payable
on the Redemption Date and at the place or places stated in such notice at the applicable
redemption price, together with interest accrued to (but excluding) the Redemption Date, and on and
after said date (unless the Issuer shall default in the payment of such Notes at the Redemption
Price, together with interest accrued to said date) interest on the Notes or portion of Notes so
called for redemption shall cease to accrue and, except as provided in Sections 605 and 1003 of the
Base Indenture, to be entitled to any benefit or security under the Indenture, and the Holders
thereof shall have no right in respect of such Notes except the right to receive the Redemption
Price thereof and accrued interest to, but excluding, the Redemption Date. On presentation and
surrender of such Notes at a place of payment in said notice specified, the said Notes or the
specified portions thereof shall be paid and redeemed by the Issuer at the applicable Redemption
Price, together with interest accrued thereon to, but excluding, the Redemption Date; provided that
if the Redemption Date is an Interest Payment Date, the interest payable on such Interest Payment
Date shall be payable to the Holders of record of such Notes on the applicable Regular Record Date
instead of the Holders surrendering such Notes for redemption on such date.

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          Upon presentation of any Note redeemed in part only, the Issuer shall execute and the Trustee
shall authenticate and make available for delivery to the Holder thereof, at the expense of the
Issuer, a new Note or Notes, of authorized denominations, in principal amount equal to the
unredeemed portion of the Notes so presented.

          Notwithstanding the foregoing, the Trustee shall not redeem any Notes or mail any notice of
redemption during the continuance of a Default in payment of interest on the Notes or if the
principal amount of the Notes has been accelerated, and such acceleration has not been rescinded,
on or prior to such Redemption Date. If any Note called for redemption shall not be so paid upon
surrender thereof for redemption, the principal shall, until paid or duly provided for, bear
interest from the Redemption Date at the rate borne by the Note and such Note shall remain
convertible into Ordinary Shares until the principal and interest shall have been paid or duly
provided for.

Section 504.
Conversion Arrangement on Call for Redemption.

          In connection with any redemption
of Notes, the Issuer may arrange for the purchase and conversion of any Notes by an agreement with
one or more investment banks or other purchasers to purchase such Notes by paying to the Trustee in
trust for the Holders, on or before the Redemption Date, an amount not less than the Redemption
Price, together with interest accrued to, but excluding, the Redemption Date of such Notes.
Notwithstanding anything to the contrary contained in this Article Five, the obligation of the
Issuer to pay the Redemption Price of such Notes, together with interest accrued to, but excluding
the Redemption Date, shall be deemed to be satisfied and discharged to the extent such amount is so
paid by such purchasers. If such an agreement is entered into, a copy of which will be filed with
the Trustee prior to the Redemption Date, any Notes not duly surrendered for conversion by the
Holders thereof may, at the option of the Issuer, be deemed, to the fullest extent permitted by
law, acquired by such purchasers from such Holders and (notwithstanding anything to the contrary
contained in Article Four) surrendered by such purchasers for conversion, all as of immediately
prior to the close of business on the Redemption Date (and the right to convert any such Notes
shall be extended through such time), subject to payment of the above amount as aforesaid. At the
direction of the Issuer, the Trustee shall hold and dispose of any such amount paid to it in the
same manner as it would monies deposited with it by the Issuer for the redemption of Notes.
Without the Trustee’s prior written consent, no arrangement between the Issuer and such purchasers
for the purchase and conversion of any Notes shall increase or otherwise affect any of the powers,
duties, responsibilities or obligations of the Trustee as set forth in the Indenture.

Section 505. Repurchase at Option of Holders Upon a Fundamental Change.

          (a) In the event of a
Fundamental Change each Holder shall have the right (the “Repurchase Right”), at its option,
subject to the terms and conditions of this Indenture, to require the Issuer to repurchase, in
whole or in part, the Holder’s Notes in integral multiples of $1,000 principal amount; on a date
(the “Repurchase Date” specified by the Issuer that is not less than 20 nor more than 40 Business
Days after the Issuer Repurchase Notice Date related to such Fundamental Change provided, however,
that no Notes of a principal amount of less than $100,000 shall be required to be repurchased in
part. Any such repurchase shall be made at a

38

 

price in cash equal to 100% of the principal amount of such Notes tendered, plus any accrued
and unpaid interest to, but excluding, the Repurchase Date (the “Repurchase Price”).

          (b) Within 30 Business Days after a Fundamental Change has become effective, the Issuer shall
give the Issuer Repurchase Notice in accordance with Section 507. Concurrently with the delivery
of such Issuer Repurchase Notice the Guarantor shall issue a press release announcing such
Fundamental Change referred to in the Issuer Repurchase Notice, the form and content of which press
release shall be determined by the Guarantor in its sole discretion. No failure to give the Issuer
Repurchase Notice or issue the press release and no defect therein shall limit the Repurchase Right
of Holders or affect the validity of the proceedings for the repurchase of Notes pursuant to this
Section 505 or Sections 507 to 511.

          (c) To exercise the Repurchase Right, the Holder must transmit to the Paying Agent the Notes
to be repurchased, duly endorsed for transfer (if the Notes are certificated) or by book-entry
transfer (if the Notes are represented by a Global Note)), together with a written repurchase
notice (the “Repurchase Notice”), and such Repurchase Notice must be received by the Paying Agent
no later than the close of business on the second Business Day immediately preceding the Repurchase
Date. The Repurchase Notice must state:

	 	(1)	 	the certificate numbers of the Notes delivered by the Holder;
	 
	 	(2)	 	the portion of the principal amount of Notes to be repurchased,
which portion must be $1,000 or an integral multiple of $1,000 provided,
however, that no Notes of a principal amount of less than $100,000 shall be
required to be repurchased in part; and
	 
	 	(3)	 	that such Notes are being tendered for repurchase pursuant to
the Fundamental Change provisions of the Notes and the Indenture.

          If the Notes are not in certificated form, the Repurchase Notice must comply with the
applicable procedures of the Depositary.

          A “Fundamental Change” will be deemed to have occurred if either a Delisting Event or a Change
of Control has occurred.

          A “Delisting Event” will be deemed to have occurred if neither the Ordinary Shares nor the
ADSs are listed for trading or quoted on the New York Stock Exchange, the NASDAQ Regulated Market
or any regulated stock exchange in the United Kingdom, Germany, Switzerland, Japan, Singapore or
Hong Kong (any such exchange, a “Relevant Exchange”).

          A “Change of Control” event will be deemed to have occurred upon the occurrence of any of the
following:

          (1) the consummation of any transaction the result of which is that any “person” or “group”
(other than Infineon Technologies AG or its successors), within the meaning of Section 13(d)(3) of
the Exchange Act becomes the direct or indirect “beneficial owner”, as defined in Rule 13d 3 under
the Exchange Act, of Ordinary Shares or ADSs representing more than 50% of the voting power of the
Guarantor’s capital stock, and (i) such beneficial ownership

39

 

is disclosed in a Schedule 13D or Schedule TO or any other schedule, form or report filed by
such person or group under the Exchange Act or (ii) the Guarantor otherwise becomes aware of any
such person or group (it being understood that only the actual knowledge of the Guarantor’s senior
management shall constitute awareness of the Guarantor under this clause);

          (2) any conveyance, transfer, sale, lease or other disposition in a single transaction or a
series of transactions of all or substantially all of the Guarantor’s properties and assets and
those of its Subsidiaries, taken as a whole to any “person” (within the meaning of Section 13(d)(3)
of the Exchange Act);

          (3) a consolidation, merger or binding share exchange, other than:

          (a) any transaction:

               (i) that does not result in any reclassification, conversion, exchange or cancellation of
Outstanding shares of the Guarantor’s capital stock; and

               (ii) pursuant to which holders of 50% or more of the total voting power of all shares of the
Guarantor’s capital stock immediately prior to the transaction have the right to exercise, directly
or indirectly, 50% or more of the total voting power of all shares of capital stock entitled to
vote generally of the continuing or surviving or successor person immediately after giving effect
to such transaction; or

          (b) any merger primarily for the purpose of changing jurisdiction of incorporation of the
Guarantor and resulting in a reclassification, conversion or exchange of Outstanding Ordinary
Shares of the Guarantor solely into shares of the surviving entity;

          (4) the Guarantor’s shareholders approve any plan or proposal for its liquidation or
dissolution; or

          (5) Infineon Technologies AG becomes the direct or indirect beneficial owner of Ordinary
Shares or ADSs representing more than 85% of the Guarantor’s voting power.

          However, a Change of Control will be deemed not to have occurred if more than 90% of the
consideration in the transaction or transactions (other than cash payments for fractional shares)
which otherwise would constitute a Change of Control under clause (1), (2), (3) or (4) above
consists of shares of common stock, depositary receipts or other certificates representing common
equity interests traded or to be traded immediately following such transaction on a relevant
exchange and, as a result of the transaction or transactions, the Notes will become convertible
into such common stock, depositary receipts or other certificates representing common equity
interests (and any rights attached thereto) and other applicable consideration.

          For purposes of this Section 505:

          “person” and “group” shall have the meanings given to them for purposes of Sections 13(d)(3)
of the Exchange Act or any successor provisions, and the term “group”

40

 

includes any group acting for the purpose of acquiring, holding or disposing of securities
within the meaning of Rule 13d-5(b)(1) under the Exchange Act, or any successor provision;

          a “beneficial owner” will be determined in accordance with Rule 13d-3 under the Exchange Act,
as in effect on the date of the indenture;

          “beneficially own” and “beneficially owned” have meanings correlative to that of beneficial
owner;

          “capital stock” means: (1) in the case of a corporation, corporate stock; (2) in the case of
an association or business entity, any and all shares, interests, participations, rights or other
equivalents (however designated) of corporate stock; (3) in the case of a partnership or limited
liability company, partnership interests (whether general or limited) or membership interests; or
(4) any other interest or participation that confers on a person the right to receive a share of
the profits and losses of, or distributions of assets of, the issuing person;

          “voting stock” means any class or classes of capital stock or other interests then Outstanding
and normally entitled (without regard to the occurrence of any contingency) to vote in general
meetings of shareholders.

Section 506. [Reserved].

Section 507. Procedures for the Repurchase of Notes.

          (a) At least
three Business Days before each Issuer Repurchase Notice Date, the Issuer shall deliver an
Officers’ Certificate to the Trustee specifying:

     (i) the information required by Section 507(c) in the Issuer Repurchase Notice,
and

     (ii) whether the Issuer desires the Trustee to give the Issuer Repurchase
Notice required by Section 507(c).

          (b) The Issuer Repurchase Notice, as provided in Section 507(c), shall be sent to Holders at
their addresses shown in the Security Register and to beneficial owners of the Notes, to the extent
required by applicable law, not less than 20 nor more than 40 Business Days prior to such
Repurchase Date (the “Issuer Repurchase Notice Date”).

          (c) In connection with any repurchase of Notes, the Issuer shall, no less than 20 nor more
than 40 Business Days prior to each Repurchase Date, give notice to Holders and, if applicable, to
beneficial owners of the Notes (with a copy to the Trustee) setting forth information specified in
this Section 507(c) (the “Issuer Repurchase Notice”).

          Each Issuer Repurchase Notice shall:

     (1) state the transaction(s) causing such Fundamental Change;

     (2) state the effective date of such Fundamental Change;

41

 

     (3) state the last date on which a Holder may exercise the Repurchase Right;

     (4) state the Repurchase Price;

     (5) state the Repurchase Date;

     (6) state the names and addresses of the Paying Agent and Conversion Agent;

     (7) the Conversion Rate, and, if applicable, any adjustments to the Conversion Rate
that will result from the Fundamental Change;

     (8) include a form of Repurchase Notice;

     (9) state that Notes must be surrendered to the Trustee (or other Paying Agent
appointed by the Issuer) to collect the purchase price;

     (10) state the CUSIP number of the Notes;

     (11) state that Notes with respect to which a repurchase notice is given by the Holder
may be converted only if the repurchase notice has been withdrawn by the Holder in
accordance with the terms of the Indenture; and

     (12) state the procedures that Holders must follow to exercise the right.

          Issuer Repurchase Notices may be given by the Issuer or, at the Issuer’s request, the Trustee
shall give such Issuer Repurchase Notice in the Issuer’s name and at the Issuer’s expense.

          (d) The Issuer and the Guarantor will (i) comply with the provisions of Rule 13e-4, Rule 14e-1
(or any successor provision) and any other tender offer rules under the Exchange Act that may then
be applicable and to the extent that they are applicable in connection with the Repurchase Rights
of the Holders of Notes; (ii) file a Schedule TO or any successor similar schedule, if required
under the Exchange Act; and (iii) otherwise comply with all federal and state securities laws and
any other applicable laws in connection with any offer by the Guarantor to repurchase the Notes
upon a Fundamental Change.

Section 508. Effect of Repurchase Notice.

          (a) Upon receipt by the Trustee (or other Paying
Agent appointed by the Issuer) of the Repurchase Notice specified in Section 505(c) hereof, the
Holder of the Note in respect of which such Repurchase Notice was given shall (unless such
Repurchase Notice is validly withdrawn) thereafter be entitled to receive solely the purchase price
and accrued and unpaid interest up to, but excluding, the relevant Repurchase Date, with respect to
such Note. Such purchase price shall be paid to such Holder, subject to receipt of funds and/or
Notes by the Trustee at its Corporate Trust Office in New York City (or other Paying Agent
appointed by the Issuer), promptly following the later of (x) the Repurchase Date with respect to
such Note

42

 

(provided the Holder has satisfied the conditions in Section 505) and (y) the time of delivery
of such Note to the Trustee (or other Paying Agent appointed by the Issuer) by the Holder thereof
in the manner required by Section 505. Notes in respect of which a Repurchase Notice has been
given by the Holder thereof may not be converted pursuant to Article Four hereof on or after the
date of the delivery of such Repurchase Notice unless such Repurchase Notice has first been validly
withdrawn.

          (b) A Repurchase Notice may be withdrawn by means of a written notice of withdrawal delivered
to the Corporate Trust Office of the Trustee in New York City (or other Paying Agent appointed by
the Issuer) in accordance with the Repurchase Notice at any time prior to the close of business on
the second Business Day immediately preceding the Repurchase Date, specifying:

	 	(i)	 	the certificate number, if any, of the Note in
respect of which such notice of withdrawal is being submitted, or the
appropriate Depositary information if the Note in respect of which such
notice of withdrawal is being submitted is represented by a Global
Note,
	 
	 	(ii)	 	the principal amount of the Note with respect
to which such notice of withdrawal is being submitted, which must be
$1,000 or an integral multiple of $1,000; provided that no Note of a
principal amount of less than $100,000 shall be required to be
repurchased in part, and
	 
	 	(iii)	 	the principal amount, if any, of such Note
which remains subject to the original Repurchase Notice.

Section 509. Deposit of Purchase Price.

          (a) Prior to 10:00 a.m. (New York City Time) on the
Repurchase Date, the Issuer shall deposit with the Trustee (or other Paying Agent appointed by the
Issuer; or, if the Issuer is acting as the Paying Agent, shall segregate and hold in trust as
provided in Section 1003 of the Base Indenture) an amount of cash (in immediately available funds
if deposited on such Business Day) sufficient to pay the aggregate purchase price of all the Notes
or portions thereof that are to be purchased as of the Repurchase Date.

          (b) If the Trustee or other Paying Agent appointed by the Issuer, or the Issuer or a
Subsidiary or affiliate of either of them if such entity is acting as the Paying Agent, holds cash
sufficient to pay the aggregate purchase price of all the Notes, or portions thereof that are to be
purchased as of the Repurchase Date, on or after the Repurchase Date (i) the Notes will cease to be
Outstanding, (ii) interest on the Notes will cease to accrue, and (iii) all other rights of the
Holders of such Notes will terminate, whether or not book-entry transfer of the Notes has been made
or the Notes have been delivered to the Trustee or other Paying Agent, other than the right to
receive the purchase price, together with accrued and unpaid interest on such repurchased Notes up
to, but excluding, the relevant Repurchase Date, as and to the extent provided in Section 508
hereof, upon delivery of the Notes.

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Section 510. Notes Repurchased in Part.

          Upon presentation of any Note repurchased only in part,
the Issuer shall execute and the Trustee shall authenticate and make available for delivery to the
Holder thereof, at the expense of the Issuer, a new Note or Notes, of any authorized denomination,
in aggregate principal amount equal to the unrepurchased portion of the Notes presented.

Section 511. Repayment to the Issuer.

          The Trustee (or other Paying Agent appointed by the
Issuer) shall return to the Issuer any cash that remains unclaimed, together with interest, if any,
thereon, held by them for the payment of the purchase price; provided that to the extent that the
aggregate amount of cash deposited by the Issuer pursuant to Section 509 hereof exceeds the
aggregate purchase price of the Notes or portions thereof which the Issuer is obligated to purchase
as of the Repurchase Date, together with accrued and unpaid interest on such repurchased Notes up
to, but excluding, the relevant Repurchase Date, then, unless otherwise agreed in writing with the
Issuer, promptly after the Business Day following the Repurchase Date, the Trustee shall return any
such excess to the Issuer together with interest, if any, thereon.

ARTICLE SIX

MISCELLANEOUS PROVISIONS

Section 601. Integral Part.

          This First Supplemental Indenture constitutes an integral part of
the Base Indenture with respect to the Notes only as provided in Section 301 hereof.

Section 602. Adoption, Ratification and Confirmation.

          The Base Indenture, as supplemented and
amended by this First Supplemental Indenture, is in all respects hereby adopted, ratified and
confirmed, and this First Supplemental Indenture shall be deemed part of the Base Indenture in the
manner and to the extent herein and therein provided. The provisions of this First Supplemental
Indenture shall, subject to the terms hereof, supersede the provisions of the Base Indenture to the
extent the Indenture is inconsistent herewith.

Section 603. Counterparts.

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

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Section 604. Governing Law and Jurisdiction.

          THIS FIRST SUPPLEMENTAL INDENTURE SHALL BE
GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO
THE CONFLICTS OF LAW RULES OF SAID STATE THAT WOULD INDICATE THE APPLICABILITY OF THE LAWS OF ANY
OTHER JURISDICTION.

          Each of the Issuer, the Guarantor and the Trustee hereby submits to the non-exclusive
jurisdiction of the Federal and state courts in the Borough of Manhattan in The City of New York in
any suit or proceeding arising out of or relating to this Indenture or the transactions
contemplated hereby. The Issuer, the Guarantor and the Trustee
irrevocably waive any objection (to the fullest extent permitted by
applicable law) to
the laying of venue of any suit or proceeding arising out of or relating to this Indenture or the
transactions contemplated hereby in Federal and state courts in the Borough of Manhattan in The
City of New York and irrevocably waive and agree not to plead or claim in any such court that any
such suit or proceeding in any such court has been brought in an inconvenient forum. The Issuer
and the Guarantor irrevocably appoint Qimonda North America Corp. and Infineon Technologies North
America Corp., respectively, as their authorized agent upon which process may be served in any such
suit or proceeding, and agree that service of process upon such agent, and written notice of said
service to the Issuer or the Guarantor, as appropriate, by the person serving the same to the
respective addresses of the Issuer or the Guarantor, shall be deemed in every respect effective
service of process upon the Issuer or the Guarantor in any such suit or proceeding. Such
appointments shall be irrevocable so long as any of the Notes remain outstanding, or until the
appointment of a successor by the Issuer or the Guarantor, as the case may be, and such successor’s
acceptance of such appointment. Upon such acceptance, the Issuer or the Guarantor, as the case may
be, shall notify the Trustee of the name and address of such successor. The Issuer and the
Guarantor further agree to take any and all action as may be necessary to maintain such designation
and appointment of such agent in full force and effect for a period of seven years from the date of
this Indenture.

Section 605. Conflict of Any Provision of Indenture with Trust Indenture Act of 1939.

          If and
to the extent that any provision of this First Supplemental Indenture limits, qualifies or
conflicts with a provision required under the terms of the Trust Indenture Act of 1939, as amended,
such Trust Indenture Act provision shall control.

Section 606. Effect of Headings.

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

Section 607. Severability of Provisions.

          In case any provision in this First Supplemental
Indenture or in the Notes shall be invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

45

 

Section 608. Successors and Assigns.

          All covenants and agreements in this First Supplemental
Indenture by the parties hereto shall bind their respective successors and assigns and inure to the
benefit of their respective successors and assigns, whether so expressed or not.

Section 609. Benefit of Supplemental Indenture.

          Nothing in this First Supplemental Indenture,
express or implied, shall give to any Person, other than the parties hereto, any Security
Registrar, any Paying Agent, any Conversion Agent and their successors hereunder, and the Holders
of the Notes, any benefit or any legal or equitable right, remedy or claim under this First
Supplemental Indenture.

Section 610. Acceptance by Trustee.

          The Trustee accepts the amendments to the Indenture
effected by this First Supplemental Indenture and agrees to execute the trusts created by the
Indenture as hereby amended, but only upon the terms and conditions set forth in this First
Supplemental Indenture and the Indenture. Without limiting the generality of the foregoing, the
Trustee assumes no responsibility for the correctness of the recitals contained herein, which shall
be taken as the statements of the Issuer and except as provided in the Indenture the Trustee shall
not be responsible or accountable in any way whatsoever for or with respect to the validity or
execution or sufficiency of this First Supplemental Indenture and the Trustee makes no
representation with respect thereto.

Section 611.
Rights of the Conversion Agent

          The
Conversion Agent shall be entitled to the same rights as the Trustee
is entitled to under Sections 602(4), 602(7), 606(3) and 608 of the Base
Indenture.

Section 612. Calculations in Respect of the Notes

          The Guarantor or its agents will be responsible for making all calculations called for under
the Notes. These calculations include, but are not limited to, determination of the closing sale
price of the Guarantor’s Ordinary Shares or ADSs and adjustments to the Conversion Price. The
Guarantor or its agents will make all these calculations in good faith and using equitable
discretion pursuant to Section 317 of the German Civil Code and, absent manifest error, their
calculations will be final and binding on Holders of Notes. The Guarantor or its agents will
provide a schedule of these calculations to the Trustee, and the Trustee is entitled to
conclusively rely upon the accuracy of these calculations without independent verification. The
Trustee and the Conversion Agent shall receive notice of any Conversion Rate adjustments and shall
have no responsibility for performing (or verifying) such conversion rate adjustment.

Section 613. Currency Indemnity

          U.S. dollars are the sole currency of account and payment for all sums payable under the
Notes. Any amount received or recovered in respect of the Notes in a currency other than U.S.
dollars (whether as a result of, or of the enforcement of, a judgment or order of a court of any
jurisdiction, in the winding up or dissolution of the Issuer, the Guarantor or any of their
Subsidiaries or otherwise) by a Holder in respect of any sum expressed to be due to such Holder
from the Issuer or the Guarantor will constitute a discharge of such obligation only to the extent

46

 

of the U.S. dollar amount which the recipient is able to purchase with the amount so received or
recovered in such other currency on the date of that receipt or recovery (or, if it is not possible
to purchase U.S. dollars on that date, on the first date on which it is possible to do so). If the
U.S. dollar amount that could be recovered following such a purchase is less than the U.S. dollar
amount expressed to be due to the recipient under any Note, the Issuer and the Guarantor will
indemnify the recipient against the cost of the recipient’s making a further purchase of U.S.
dollars in an amount equal to such difference. For the purposes of this paragraph, it will be
sufficient for the Holder to certify that it would have suffered a loss had the actual purchase of
U.S. dollars been made with the amount so received in that other currency on the date of receipt or
recovery (or, if a purchase of U.S. dollars on that date had not been possible, on the first date
on which it would have been possible). These indemnities, to the extent permitted by law:

     (a) constitute a separate and independent obligation from the Issuer’s and the
Guarantor’s other obligations;

     (b) give rise to a separate and independent cause of action;

     (c) apply irrespective of any waiver granted by any Holder; and

     (d) will continue in full force and effect despite any other judgment, order, claim or
proof for a liquidated amount in respect of any sum due under any Note or any other judgment
or order.

     In no event shall the above indemnities be construed as obligating the Issuer or the Guarantor
to indemnify any Holder for any conversions of cash or other distributions under the Deposit
Agreement.

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

	 	 	 	 	 	 	 
	 	 	QIMONDA FINANCE LLC, as Issuer
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Michael J. Munn	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Michael J. Munn	 	 
	 

	 	 	 	Title: Secretary	 	 
	 
	 	 	 	 	 	 
	 	 	QIMONDA AG, as Guarantor
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ ppa. Dreischhoff	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Peter Dreischhoff	 	 
	 

	 	 	 	Title: Senior Vice President
	 	 
	 

	 	 	 	          Finance & Treasury	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ ppa Lau	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Nicole Lau	 	 
	 

	 	 	 	Title: Corporate Legal Counsel	 	 
	 

	 	 	 	          Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	DEUTSCHE BANK TRUST
COMPANY 

AMERICAS, as Trustee
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Wanda Camacho	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Wanda Camacho	 	 
	 

	 	 	 	Title: Vice President	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Annie Jaghatspanyan	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Annie Jaghatspanyan	 	 
	 

	 	 	 	Title: Assistant Vice President	 	 

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ANNEX A

FORM OF NOTE

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (THE “DEPOSITARY”, WHICH TERM INCLUDES ANY SUCCESSOR
DEPOSITARY FOR THE CERTIFICATES) TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE
OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER
NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY (AND ANY PAYMENT HEREIN IS MADE
TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITARY), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

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

 

 

QIMONDA FINANCE LLC

6.75% SENIOR UNSECURED CONVERTIBLE NOTE DUE 2013

GUARANTEED BY QIMONDA AG

Principal Amount: $217,647,000

CUSIP: 74732WAA7

No. 1

Issue Date: February 13, 2008

     Qimonda Finance LLC, a limited liability company duly formed and validly existing under the
laws of the State of Delaware (herein called the “Issuer,” which term includes any successor
corporation under the Indenture referred to on the reverse hereof), for value received hereby
promises to pay to Cede & Co. or its registered assigns, the principal sum set forth on Schedule I
hereto on March 22, 2013 at the office or agency of the Issuer maintained for that purpose in
accordance with the terms of the Indenture, in such coin or currency of the United States of
America as at the time of payment shall be legal tender for the payment of public and private
debts, and to pay interest, semiannually on March 15 and September 15 of each year (each an
“Interest Payment Date”), commencing on September 15, 2008, on said principal sum at said office or
agency, in like coin or currency, at the rate per annum of 6.75%, from the most recent Interest
Payment Date to which interest has been paid or duly provided for, unless no interest has been paid
or duly provided for on the Notes, in which case from February 13, 2008 until payment of said
principal sum has been made or duly provided for. Interest shall cease to accrue on this Note upon
its stated maturity, upon its repurchase by the Issuer at the option of a Holder in case of a
Fundamental Change, upon its redemption or, in the case of a conversion of Notes, from the end of
the day immediately preceding the Conversion Date. Except as otherwise provided in the Indenture,
the interest payable on the Note pursuant to the Indenture on any Interest Payment Date will be
paid to the Person entitled thereto as it appears in the Security Register at the close of business
on each March 1 or September 1 (each a “Regular Record Date”), (whether or not a Business Day) next
preceding such Interest Payment Date, as provided in the Indenture; provided that any such interest
not punctually paid or duly provided for shall be payable as provided in the Indenture. Interest
on the Notes shall be computed on the basis of a 360-day year of twelve 30-day months. The Issuer
may, at its option, pay interest by check mailed to each Holder at its address as it appears in the
Notes Register; provided further, however, payments to the Depositary will be made by wire transfer
of immediately available funds to the account of the Depositary or its nominee.

     The Issuer promises to pay interest on overdue principal (to the extent that payment of such
interest is enforceable under applicable law) at the rate of 6.75% per annum.

     Reference is made to the further provisions of this Note set forth on the reverse hereof,
including, without limitation, provisions giving the Holder of this Note the right to convert this
Note into Ordinary Shares of the Guarantor on the terms and subject to the limitations referred to
on the reverse hereof and as more fully specified in the Indenture. Such

2

 

further provisions shall for all purposes have the same effect as though fully set forth at
this place.

     This Note shall be deemed to be a contract made under the laws of the State of New York, and
for all purposes shall be construed in accordance with and governed by the laws of the State of New
York without regard to the conflicts of law rules.

     This Note shall not be valid or become obligatory for any purpose until the certificate of
authentication hereon shall have been manually signed by the Trustee or a duly authorized
authenticating agent under the Indenture.

3

 

     IN WITNESS WHEREOF, the Issuer has caused this Note to be duly executed.

	 	 	 	 	 
	 	QIMONDA FINANCE LLC, as Issuer

 	 
	 	By:  	 	 
	 	 	 	 
	 
	 	QIMONDA AG, as Guarantor

 	 
	 	By:  	 	 
	 	 	 	 
	 	 	 	 
	 
	 	 	 
	 	By:  	 	 
	 	 	 	 
	 

	 	 	 	 
	Attest:
 	 
	By:  	 	 
	 	 	 	 
	 	 	 	 
	Attest:
 	 
	By:  	 	 
	 	 	 	 
	 	 	 	 
	 

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

This is one of the Notes of the series designated therein referred to in the within-named
Indenture.

Dated: February 13, 2008

	 	 	 	 	 
	 
	 	DEUTSCHE BANK TRUST COMPANY
AMERICAS, as Trustee
 	 
	 	By:  	 	 
	 	 	Authorized Officer	 
	 	 	 	 	 

4

 

FORM OF REVERSE OF NOTE

QIMONDA FINANCE LLC

6.75% SENIOR UNSECURED CONVERTIBLE NOTES DUE 2013

GUARANTEED BY QIMONDA AG

     This Note is one of a duly authorized issue of a series of Securities of the Issuer,
designated as its 6.75% Senior Unsecured Convertible Notes Due 2013 (herein called the “Notes”),
issued and to be issued under and pursuant to a Base Indenture dated as of February 13, 2008, as
amended and supplemented by a First Supplemental Indenture (the “First Supplemental Indenture”),
dated as of February 13, 2008 (as so amended and supplemented, herein called the “Indenture”),
between the Issuer, Qimonda AG, as guarantor (herein called the “Guarantor”), and Deutsche Bank
Trust Company Americas, as trustee (herein called the “Trustee”), to which Indenture and all
indentures supplemental thereto reference is hereby made for a description of the rights,
limitations of rights, obligations, duties and immunities thereunder of the Trustee, the Issuer, the Guarantor and
the Holders of the Notes. The terms and conditions of this Note include those stated in the
Indenture. This Note is subject to all such terms and conditions.

     The Notes are issuable in fully registered form, without coupons, in minimum denominations of
$100,000 principal amount and any multiple of $1,000 in excess thereof. Upon due presentment for
registration of transfer of this Note at the office or agency of the Issuer maintained for that
purpose in accordance with the terms of the Indenture, a new Note or Notes of authorized
denominations for an equal aggregate principal amount will be issued to the transferee in exchange
thereof, subject to the limitations provided in the Indenture, without charge except for any tax,
assessment or other governmental charge imposed in connection therewith.

     The Guarantor fully, unconditionally and irrevocably guarantees all payments to be made by the
Issuer in respect of this Note, in accordance with the provisions set forth in the Indenture,
including, without limitation, Article Sixteen of the Base Indenture.

     No sinking fund is provided for the Notes. The Issuer may redeem some or all of the Notes for
cash on or after April 1, 2011 at 100% of their principal amount, plus accrued and unpaid interest
and Additional Amounts, if any, to but excluding the Redemption Date if the Closing Sale Price of
the ADSs for 20 Trading Days within a period of 30 consecutive Trading Days ending on the Trading
Day before the date of mailing of the redemption notice exceeds 150% of the applicable Conversion
Price on the last Trading Day of the period. The Redemption Date may not fall in the period
beginning on an Interest Record Date and ending two Business Days following the related Interest
Payment Date. In the event that less than all of the Notes are to be redeemed pursuant to an
Optional Redemption at the option of the Issuer, selection of the Notes for redemption will be made
by the Trustee in compliance with the rules of the national securities exchange, if any, on which
the Notes are then listed or, if the Notes are not then listed, on a pro rata basis, by lot or by
such method as the Trustee shall deem fair and appropriate; provided, however, that no Notes of a
principal amount of less than $100,000 shall be redeemed in part.

5

 

     If at any time the aggregate principal amount of Outstanding Notes falls below 10% of the
aggregate principal amount initially issued under the Indenture, the Issuer is entitled, by giving not less
than 20 nor more than 40 days’ notice by publication in accordance with the provisions of the
Indenture, to redeem the remaining Notes in whole, but not in part, at their principal amount
together with interest accrued to (but excluding) the Redemption Date. The Redemption Date may not
fall in a Redemption Excluded Period.

     The Issuer may, at its option, redeem the Notes, in whole but not in part, at any time (but
not during a Redemption Excluded Period) upon giving not less than 30 nor more than 60 days’ notice
to the Holders (which notice shall be irrevocable), at a Redemption Price equal to 100% of the
principal amount thereof, together with accrued and unpaid interest thereon, if any, to the
Redemption Date and all Additional Amounts, if any, then due and which will become due on the
Redemption Date as a result of the redemption or otherwise, if the Issuer determines in good faith
that it is, or on the next date on which any amount would be payable in respect of the Notes would
be, obligated to pay aggregate Additional Amounts, which the Issuer cannot avoid by the use of
reasonable measures (including making payment through a Paying Agent located in another
jurisdiction) as set forth in the Indenture.

     In the event of a Fundamental Change each Holder has the right, at its option, subject to the
terms and conditions of the Indenture, to require the Issuer to repurchase, in whole or in part,
the Holder’s Notes in integral multiples of $1,000 principal amount; provided, however, that no
Notes of a principal amount of less than $100,000 shall be required to be repurchased in part. Any
such repurchase shall be made at a price in cash equal to 100% of the principal amount of such
Notes tendered, plus any accrued and unpaid interest to, but excluding, the Repurchase Date, all as
set forth in the Indenture.

     Within 30 Business Days after a Fundamental Change has become effective, the Issuer shall mail to
all Holders of Notes at their addresses shown in the Notes Register and to beneficial owners to the
extent required by applicable law a notice regarding the Fundamental Change as set forth in the
Indenture. Concurrently, the Guarantor shall issue a press release announcing such Fundamental
Change referred to in the Issuer Repurchase Notice, the form and content of which press release
shall be determined by the Guarantor in its sole discretion.

     To exercise the repurchase right, the Holder must transmit to the Paying Agent the Notes to be
repurchased, duly endorsed for transfer (if the Notes are certificated) or by book-entry transfer
(if the Notes are represented by a Global Note), together with a written Repurchase Notice, and
such Repurchase Notice must be received by the Paying Agent no later than the close of business on
the second Business Day immediately preceding the Repurchase Date.

 
     A Holder may withdraw any Repurchase Notice by delivering to the Paying Agent a written notice
of withdrawal prior to the close of business on the second Business Day immediately preceding the
Repurchase Date.

     Subject to compliance with the provisions of the Indenture, the Holder hereof has the right,
at its option, to convert each $1,000 principal amount of the Notes, together with the Appertaining
Claim, into 137.8379 Ordinary Shares of the Guarantor, subject to adjustment and certain other
limitations as provided in the Indenture. A Note in respect of which a Holder is exercising its
Repurchase Right upon a Fundamental Change may be converted only if such Holder withdraws its
election to exercise either such Repurchase Right in accordance with the terms of the Indenture or
if the Issuer defaults in the payment of the Repurchase Price. The Conversion Rate for the Notes
on any Conversion Date shall be determined as set forth in the

6

 

Indenture and will be adjusted as set forth in Article Four of the First Supplemental
Indenture. The Issuer shall deliver cash in lieu of issuing any fractional share upon conversion
of a Note as provided in the Indenture.

     A Holder may convert a portion of a Note, together with the Appertaining Claim, if the
principal amount of such portion is $1,000 or an integral multiple of $1,000 at any time beginning
on March 27, 2008 and ending on March 19, 2013 or an earlier Redemption Date, except during an
Excluded Period, as defined in the Indenture.

     If the Holder converts after the close of business on an Interest Record Date but prior to the
corresponding Interest Payment Date, such Holder will receive on the Interest Payment Date interest
accrued on those Notes until the day preceding the Conversion Date, notwithstanding the conversion
of Notes prior to the Interest Payment Date, assuming the Holder was the Holder of record at the
close of business on the corresponding Interest Record Date.

     To convert a Note, a Holder must (a) complete and manually sign the Conversion Notice set
forth below or a facsimile thereof and deliver such notice to the Conversion Agent, (b) surrender
the Note to the Conversion Agent, (c) furnish appropriate endorsements and transfer documents
(including any certification that may be required under applicable law) if required by the
Conversion Agent and (d) pay any transfer or similar tax, if required.

     The Indenture contains provisions permitting the Issuer and the Trustee, with the consent of
the Holders of at least a majority in aggregate principal amount of the Outstanding Notes, to
execute supplemental indentures adding any provisions to or changing in any manner or eliminating
any of the provisions of the Indenture or of any supplemental indenture or modifying in any manner
the rights of the Holders of the Notes; provided that no such supplemental indenture shall (i)
change the stated maturity of the principal of or the payment date of any installment of interest
on the Notes; (ii) reduce the principal amount of, Repurchase Price or Redemption Price of or rate
of interest on, any Note; (iii) reduce the amount of principal payable upon acceleration of the
maturity of any Note; (iv) change the currency in which the principal, Repurchase Price or
Redemption Price or interest with respect to the Notes is payable; (v) impair the right to
institute suit for the enforcement of any payment on, or with respect to, any Note; (vi) modify the
provisions with respect to the Repurchase Rights of the Holders described under Section 505 of the
First Supplemental Indenture in a manner adverse to Holders; (vii) adversely affect the right of
Holders to convert Notes other than as provided in the Indenture; (viii) reduce the percentage in
principal amount of the Outstanding Notes, the consent of whose Holders is required in order to
take specific actions including, but not limited to, the waiver of past defaults or the
modification or amendment of the Indenture; or (ix) alter the manner of calculation or rate of
accrual of interest, Redemption Price, Repurchase Price on any Note or extend the time for payment
of any such amount, without the consent of the Holders of each Notes affected thereby.

     The Issuer, the Trustee, any authenticating agent, any Paying Agent, any Conversion Agent and
any Security Registrar may deem and treat the registered Holder hereof as the absolute owner of
this Note (whether or not this Note shall be overdue and notwithstanding any notation of ownership
or other writing hereon made by anyone other than the Issuer or any Security Registrar) for the
purpose of receiving payment hereof, or on account hereof, for the conversion hereof and for all
other purposes, and neither the Issuer nor the Trustee nor any other authenticating agent nor any
Paying Agent nor other Conversion Agent nor any Security Registrar shall be affected by any notice
to the contrary. All payments made to or upon the order of such registered Holder shall, to the
extent of the sum or sums paid, satisfy and discharge liability for monies payable on this Note.

7

 

     Notwithstanding
any other provision of the Notes or the Indenture, so long as the Notes are in
the form of Global Securities, the parties to the Indenture and the Holders of the Notes will be
bound at all times by the applicable procedures of the Depositary.

     No recourse for the payment of the principal of or interest on this Note, or for any claim
based hereon or otherwise in respect hereof, and no recourse under or upon any obligation, covenant
or agreement of the Issuer in the Indenture or any supplemental indenture or in any Note, or
because of the creation of any indebtedness represented thereby, shall be had against any
incorporator, stockholder, employee, agent, officer or director or subsidiary, as such, past,
present or future, of the Issuer or of any successor corporation, either directly or through the
Issuer or any successor corporation, whether by virtue of any constitution, statute or rule of law
or by the enforcement of any assessment or penalty or otherwise, all such liability being, by
acceptance hereof and as part of the consideration for the issue hereof, expressly waived and
released.

     Terms used in this Note and defined in the Indenture are used herein as therein defined.

     The Issuer will furnish to any Holder, upon written request and without charge, a copy of the
Indenture. Requests may be made to Qimonda Finance LLC, 3000 CentreGreen Way, Cary, North Carolina,
United States of America, Facsimile: (804) 952-3825,
Attention: Michael Munn.

     THIS NOTE AND THE APPLICABLE INDENTURE SHALL BE DEEMED TO BE A CONTRACT MADE UNDER THE LAWS OF
THE STATE OF NEW YORK, AND FOR ALL PURPOSES SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY
THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO THE CONFLICTS OF
LAW RULES.

     The
Issuer and the Guarantor hereby submit to the non-exclusive jurisdiction of the
Federal and state courts in the Borough of Manhattan in The City of New York in any suit or
proceeding arising out of or relating to this Note, the Indenture or the transactions contemplated
thereby. The Issuer, the Guarantor and the Trustee irrevocably waive
(to the fullest extent permitted by applicable law) any objection to the laying
of venue of any suit or proceeding arising out of or relating to this Note, the Indenture or the
transactions contemplated thereby in Federal and state courts in the Borough of Manhattan in The
City of New York and irrevocably waive and agree not to plead or claim in any such court that any
such suit or proceeding in any such court has been brought in an inconvenient forum.

8

 

ABBREVIATIONS

     The following abbreviations, when used in respect of the name of a Holder or assignee in the
inscription of the face of this Note, shall be construed as though they were written out in full
according to applicable laws or regulations.

	 	 	 	 	 
	TEN COM -

TEN ENT -

JT TEN -

	 	as tenants in common

as tenant by the entireties

as joint tenants with

right of survivorship under Uniform Gifts to Minors Act and

not as tenants in common
	 	UNIF GIFT MIN ACT -___Custodian ___

(Cust)                       (Minor)

	

	 	

	 	

___________________________

                       
 (State)

     Additional abbreviations may also be used though not in the above list.

5

 

CONVERSION NOTICE

	 	 	 
	TO:

	 	QIMONDA AG

QIMONDA FINANCE LLC

DEUTSCHE BANK TRUST COMPANY AMERICAS

ADSs CUSIP: [•]

     The undersigned registered owner of this Note hereby irrevocably exercises the option to
convert this Note, or the portion thereof (which is $1,000 or a multiple thereof) below designated,
into Ordinary Shares of Qimonda AG for delivery to the Holders in the form of American Depositary
Shares through DTC in accordance with the terms of the Indenture referred to in this Note, and
directs that the cash payable and/or the shares represented by ADSs issuable and deliverable upon
such conversion and any Notes representing any unconverted principal amount hereof, be issued and
delivered to the registered Holder hereof unless a different name has been indicated below. The
undersigned hereby transfers the Appertaining Claim(s) attributable to the Note (or portion
thereof) to be converted pursuant to this conversion notice to the Guarantor. Capitalized terms
used herein but not defined shall have the meanings ascribed to such terms in the Indenture. If
Ordinary Shares represented by ADSs or any portion of this Note not converted are to be issued in
the name of a Person other than the undersigned, the undersigned will provide the appropriate
information below and pay all transfer taxes payable with respect thereto.

     The undersigned registered owner of this Note herewith grants power of attorney to the
Conversion Agent to represent the undersigned registered owner of this Note in accordance with the
instructions contained in the Conversion Notice in any way whatsoever in connection with the
conversion of the Note and in particular to deliver the Subscription Certificate (Aktiengesetz) to
the Guarantor. The undersigned registered owner of this Note herewith represents and warrants (i)
that the Note is free from all liens, charges, encumbrances and other third party rights, (ii) that
the requirements for conversion pursuant to the provisions of the Indenture are fulfilled,
including in particular the requirements set forth in Article 4
(including Section 401(e) of the First Supplemental Indenture) of the
Indenture, and (iii) that the Appertaining Claims related to the Note have not been disposed or
assigned separately, pledged or otherwise encumbered. The undersigned registered owner of this
Note herewith transfers the Appertaining Claims upon exercise of the conversion right to the
Guarantor together with the Note, to the extent the Appertaining Claims have not passed to the
Guarantor otherwise pursuant to the provisions of the Indenture.

	 	 	 
	 	 	 
	Dated:  	 	 
	 	 	 
	 	 	 
	 

	 	 	 	 
	 	 	 
	 	 	Name of Holder or underlying participant of Depository
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

10

 

	 	 	 	 
	 	 	Signature(s)
	 	 	 
	 	 	Signature(s) must be guaranteed by an “eligible
guarantor institution” meeting the requirements of
the Security Registrar, which requirements include
membership or participation in the Security Transfer
Agent Medallion Program (“STAMP”) or such other
“signature guarantee program” as may be determined
by the Security Registrar in addition to, or in
substitution for, STAMP, all in accordance with the
Securities Exchange Act of 1934, as amended.
	 	 	 
	 	 	 
	 	 	Signature
Guarantee

     Fill in the registration of Ordinary Shares represented by ADSs, if any, to be issued, and
Notes, if any, to be delivered, and the Person to whom cash, if any, is to be made, if other than
to and in the name of the registered Holder:

	 	 
	 
	(Institution Name)
	 
	 
	(Street Address)
	 
	 
	(City, State and Zip Code)
	 
	 

	Account Name

	 
	 

	Account Number

	 
	 

	Please print name and address

	 

	Principal amount to be converted
(if less than all):

	 
	$

	 

	Social Security or Other Taxpayer 

Identification Number:

	 

	 

11

 

REPURCHASE NOTICE

	 	 	 
	TO:

	 	QIMONDA FINANCE LLC

DEUTSCHE BANK TRUST COMPANY AMERICAS

     The undersigned registered owner of this Note hereby irrevocably acknowledges receipt of a
notice from Qimonda Finance LLC (the “Issuer”) as to the occurrence of a Fundamental Change with
respect to the Issuer or the Guarantor and requests and instructs the Issuer to repurchase the
entire principal amount of this Note, or the portion thereof (which is $1,000 or a multiple
thereof) below designated, in accordance with the terms of the Indenture referred to in this Note
at the price of 100% of such entire principal amount or portion thereof, together with accrued
interest to, but excluding, the Redemption Date, to the registered Holder hereof. Capitalized
terms used herein but not defined shall have the meanings ascribed to such terms in the Indenture.

	 	 	 	 	 
	Dated:  	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	Signature(s)
	 	 	 	 
	 	 	 	Signature(s) must be guaranteed by an “eligible
guarantor institution” meeting the requirements of
the Security Registrar, which requirements include
membership or participation in the Security Transfer
Agent Medallion Program (“STAMP”) or such other
“signature guarantee program” as may be determined
by the Security Registrar in addition to, or in
substitution for, STAMP, all in accordance with the
Securities Exchange Act of 1934, as amended.
	 	 	 	 
	 	 	 	 
	 	 	 	Signature Guarantee
	 	 	 	 
	 	 	 	NOTICE: The above signatures of the Holder(s) hereof
must correspond with the name as written upon the
face of the Note in every particular without
alteration or enlargement or any change whatever.
	 	 	 	 
	 	 	 	Principal amount to be repaid (if less than all):
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	Social Security or Other Taxpayer

Identification Number
	 	 	 	 
	 	 	 	 
	 	 	 	DTC participant number

12

 

ASSIGNMENT

     For value received ______________________________ hereby sell(s) assign(s) and transfer(s) unto
______________________________  (Please insert social security or other Taxpayer Identification Number of
assignee) the within Note, and hereby irrevocably constitutes and appoints
______________________________  attorney to transfer said Note on the books of the Issuer, with full
power of substitution in the premises.

	 	 	 	 	 
	Dated:  
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	Signature(s)
	 	 	 	 
	 	 	 	Signature(s) must be guaranteed by an “eligible
guarantor institution” meeting the requirements of
the Security Registrar, which requirements include
membership or participation in the Security Transfer
Agent Medallion Program (“STAMP”) or such other
“signature guarantee program” as may be determined by
the Security Registrar in addition to, or in
substitution for, STAMP, al in accordance with the
Securities Exchange Act of 1934, as amended.
	 	 	 	 
	 	 	 	 
	 	 	 	Signature Guarantee

NOTICE: The signature on the Conversion Notice, the Option to Elect Redemption Upon a Designated
Event, the Repurchase Notice or the Assignment must correspond with the name as written upon the
face of the Note in every particular without alteration or enlargement or any change whatever.

13

 

Schedule I

QIMONDA FINANCE LLC

6.75% Senior Unsecured Convertible Note Due 2013

No. 1

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Authorized Signature
	 	 	 	 	 	 	Notation Explaining Principal	 	of Trustee or
	Date	 	Principal Amount	 	Amount Recorded	 	Custodian
	 
	02/13/2008

	 	$	217,647,000	 	 	ORIGINAL ISSUANCE	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 

14

 

ANNEX B

FORM OF
SUBSCRIPTION CERTIFICATE

An:

Qimonda AG

z.H.: Vorstand

Gustav-Heinemann-Ring 212

81739 München

[1.] [2.] Ausfertigung

Bezugserklärung

	I.	 	Beschlüsse der Hauptversammlung der Qimonda AG, München (die “Gesellschaft”)

	 	1.	 	Die Hauptversammlung der Gesellschaft hat am 29. Januar 2008 eine bedingte
Erhöhung des Grundkapitals der Gesellschaft um bis zu € 165.000.000,00 durch Ausgabe
von bis zu 82.500.000 neuen auf den Namen lautenden nennwertlosen Stammaktien (die
“Neuen Aktien”) mit einem anteiligen Betrag am Grundkapital von € 2,00 je Neuer Aktie
beschlossen (Bedingtes Kapital II/2008).
	 
	 	 	 	Die bedingte Kapitalerhöhung dient der Gewährung von Neuen Aktien an die Inhaber
bzw. Gläubiger von Wandel- und/oder Optionsschuldverschreibungen,
Gewinnschuldverschreibungen und/oder Genussrechten (bzw. Kombinationen dieser
Instrumente), die aufgrund der von der Hauptversammlung vom 29. Januar 2008 unter
Tagesordnungspunkt IX Ziffer 2. beschlossenen Ermächtigung II/2008 von der
Gesellschaft oder von einem nachgeordneten Konzernunternehmen gegen Barleistung
begeben werden und ein Wandlungs- bzw. Optionsrecht auf Neue Aktien gewähren bzw.
eine Wandlungspflicht bestimmen. Die bedingte Kapitalerhöhung ist nur insoweit
durchzuführen, wie von Options- bzw. Wandlungsrechten Gebrauch gemacht wird oder wie
die zur Wandlung verpflichteten Inhaber bzw. Gläubiger ihre Pflicht zur Wandlung
erfüllen und soweit nicht ein Barausgleich gewährt oder eigene Aktien oder neue
Aktien aus einer Ausnutzung eines genehmigten Kapitals zur Bedienung eingesetzt
werden.
	 
	 	 	 	Die Neuen Aktien nehmen vom Beginn des Geschäftsjahres an, in dem sie durch Ausübung
von Options- bzw. Wandlungsrechten oder durch die Erfüllung von Wandlungspflichten
entstehen, am Gewinn teil. Der Vorstand der Gesellschaft (der “Vorstand”) ist
ermächtigt, die weiteren Einzelheiten der Durchführung der bedingten Kapitalerhöhung
festzusetzen.
	 
	 	2.	 	Die Hauptversammlung der Gesellschaft hat durch Beschluss vom 29. Januar 2008
(der “Ermächtigungsbeschluss”) den Vorstand ermächtigt, mit Zustimmung des
Aufsichtsrats der Gesellschaft (der “Aufsichtsrat”) bis zum 28. Januar 2013 einmalig
oder mehrmals auf den Inhaber oder auf den Namen lautende Wandelschuldverschreibungen,
Optionsschuldverschreibungen, Genussrechte oder Gewinnschuldverschreibungen (bzw.
Kombinationen dieser Instrumente) (zusammen “Schuldverschreibungen”) mit oder ohne
Laufzeitbegrenzung mit einem Gesamtnennbetrag im Gegenwert von bis zu €
2.062.500.000,00 zu begeben und den

 

 

	 	 	 	Inhabern bzw. Gläubigern von Schuldverschreibungen Wandlungs- bzw. Optionsrechte auf
Neue Aktien mit einem anteiligen Betrag des Grundkapitals von insgesamt bis zu €
165.000.000,00 nach näherer Maßgabe der Anleihebedingungen der Schuldverschreibungen
zu gewähren.
	 
	 	 	 	Die Schuldverschreibungen können in Euro oder — im entsprechenden Gegenwert — in
einer anderen gesetzlichen Währung, beispielsweise eines OECD-Landes, begeben
werden. Die Schuldverschreibungen können auch — soweit die Mittelaufnahme
Konzernfinanzierungsinteressen dient — durch eine Gesellschaft, an der die Qimonda
AG unmittelbar oder mittelbar mehrheitlich beteiligt ist, begeben werden; in diesem
Fall ist der Vorstand ermächtigt, mit Zustimmung des Aufsichtsrats die Garantie für
die Schuldverschreibungen zu übernehmen und den Inhabern Wandlungs- bzw.
Optionsrechte auf Neue Aktien zu gewähren.
	 
	 	 	 	Im Fall der Begebung von Schuldverschreibungen, die Wandlungsrecht gewähren,
entspricht der Wandlungspreis 135% des volumengewichteten Durchschnittskurses der
Qimonda American Depositary Shares (“Qimonda-ADS”) an der New York Stock Exchange,
in dem Zeitraum zwischen dem Beginn der institutionellen Platzierung (Bookbuilding)
und der Festsetzung des Ausgabebetrages der Schuldverschreibungen, wie er von der
Funktion VAP des Informationssystems Bloomberg, oder falls diese Funktion im
Zeitpunkt der Festsetzung des Ausgabebetrags der Schuldverschreibungen nicht mehr
besteht, einer vergleichbaren Funktion eines vergleichbaren Informationssystems
festgestellt wird (der in Bezug genommene volumengewichtete Durchschnittskurs
nachfolgend auch der “Referenzkurs”). Falls ein Qimonda-ADS nicht genau eine
Stammaktie der Qimonda AG repräsentiert, tritt (i) an die Stelle des Referenzkurses
der Qimonda-ADS der Quotient dieses Kurses und der genauen Anzahl der durch ein
Qimonda-ADS repräsentierten Stammaktien der Qimonda AG und (ii) an die Stelle des
zuvor genannten Schlusskurses der Qimonda-ADS der Quotient dieses Kurses und der
genauen Anzahl der durch ein Qimonda-ADS repräsentierten Stammaktien der Qimonda AG.
	 
	 	 	 	Der Vorstand ist ermächtigt, mit Zustimmung des Aufsichtsrats das Bezugsrecht der
Aktionäre auf Schuldverschreibungen auszuschließen, sofern der Ausgabepreis den nach
anerkannten finanzmathematischen Methoden ermittelten theoretischen Marktwert der
Schuldverschreibungen nicht wesentlich unterschreitet. Werden Schuldverschreibungen
in entsprechender Anwendung des § 186 Abs. 3 Satz 4 AktG unter Ausschluss des
Bezugsrechts ausgegeben, gilt diese Ermächtigung zum Bezugsrechtsausschluss nur
insoweit, als die zur Bedienung der Wandlungs- und Optionsrechte bzw. bei Erfüllung
der Wandlungspflicht ausgegebenen bzw. auszugebenden Aktien insgesamt 10% des
Grundkapitals nicht überschreiten, und zwar weder im Zeitpunkt des Wirksamwerdens
noch im Zeitpunkt der Ausübung dieser Ermächtigung. Auf diese Zahl sind Aktien der
Gesellschaft anzurechnen, die während der Laufzeit dieser Ermächtigung unter
Ausschluss des Bezugsrechts in unmittelbarer oder entsprechender Anwendung von § 186
Abs. 3 Satz 4 AktG von der Gesellschaft ausgegeben oder veräußert wurden. Ferner
sind auf diese Zahl die Aktien anzurechnen, die zur Bedienung von Wandlungs- oder
Optionsrechten ausgegeben wurden oder noch ausgegeben werden können, sofern die
Wandel- bzw. Optionsschuldverschreibungen während der Laufzeit dieser Ermächtigung
unter Ausschluss des Bezugsrechts entsprechend § 186 Abs. 3 Satz 4 AktG ausgegeben
wurden. Ferner ist der Vorstand ermächtigt, mit Zustimmung des Aufsichtsrats das
Bezugsrecht der Aktionäre auf Schuldverschreibungen für Spitzenbeträge
auszuschließen.

2

 

	II.	 	Beschluss zur Ausgabe von Wandelschuldverschreibungen
	 
	 	 	Auf der Grundlage des Ermächtigungsbeschlusses hat der Vorstand mit Beschlüssen vom 5.
Februar 2008 und vom 7. Februar 2008 mit Zustimmung des Investitions-, Finanz- und
Prüfungsausschusses des Aufsichtsrats (der ,,Ausschuss“) vom 5. Februar 2008 und vom 7.
Februar 2008 beschlossen, Wandelschuldverschreibungen mit einem Kupon von 6,75 %, fällig
2013, im Gesamtnennbetrag von USD 217,647,000 (in Worten: Zwei
Hundert Siebzehn Millionen Sechs Hundert Sieben Und Vierzig Tausend US-Dollar) (der ,,Emissionserlös“) und
wandelbar in Aktien der Gesellschaft (die “Wandelschuldverschreibungen”), durch die Qimonda
Finance LLC, Delaware, USA, eine 100%-ige Tochtergesellschaft der Gesellschaft zu begeben.
Der Vorstand hat mit Zustimmung des Ausschusses im Rahmen der vorgenannten Beschlüsse das
Bezugsrecht der Aktionäre der Gesellschaft ausgeschlossen. Der Ausschuss ist nach der
Geschäftsordnung des Aufsichtsrats für die Erteilung der Zustimmung zuständig.
	 
	 	 	Der Emissionserlös wurde von der Qimonda Finance LLC vollständig an die Gesellschaft
weitergeleitet. Die Zahlung dieses Betrages an die Gesellschaft erfolgte in Euro auf ein
Euro-Konto der Gesellschaft, wobei die Umrechnung von USD in EUR zu einem Wechselkurs von
USD [• ] zu EUR 1 erfolgte. Der so bei der Gesellschaft verbuchte Betrag belief sich
auf EUR [• ].
	 
	 	 	Jede Wandelschuldverschreibung kann, vorbehaltlich von Anpassungen nach den für die
Wandelschuldverschreibungen geltenden Bedingungen des Anleihevertrags (Indenture) (die
,,Anleihebedingungen“), zum anfänglichen Wandlungspreis von USD 7,2549 pro Neuer Aktie gemäß
den Anleihebedingungen in Neue Aktien gewandelt werden.
	 
	 	 	Der Ausübungszeitraum hat am 27. März 2008 begonnen und endet, nach näherer Maßgabe der
Anleihebedingungen, am dritten Geschäftstag vor dem Fälligkeits- oder Rücknahmetag.
	 
	III.	 	[Anpassung des Wandlungsverhältnisses
	 
	 	 	Gemäß der in § 405 und 406 der Anleihebedingungen enthaltenen Anpassungsklausel wurde das
Wandlungsverhältnis gemäß der Berechnung der Gesellschaft dahingehend angepasst,
dass jede Wandelschuldverschreibung im Nennbetrag von USD [•] zu einem Wandlungspreis
je Aktie von USD [•] in Neue Aktien gewandelt werden kann.
	 
	IV.]	 	Ausübung des Wandlungsrechts und Bezug
	 
	 	 	Gemäß § 402 des Ersten Zusatzes zu den Anleihebedingungen (First Supplemental Indenture)
haben Inhaber von Wandelschuldverschreibungen, die ihr Wandlungsrecht
ausüben, gegenüber Deutsche Bank Trust Company Americas in
ihrer Eigenschaft als Wandlungsstelle (die ,,Wandlungsstelle“)
ihre Wandlungserklärung zu übergeben. Die Wandlungsstelle händigt im Zeitpunkt des Erhalts
einer gültigen und unwiderruflichen Wandlungserklärung von einem Inhaber der
Wandelschuldverschreibung die Wandlungs- und Bezugserklärung im Namen dieser Inhaber der
Gesellschaft entsprechend § 198 AktG für die Gesamtzahl der Aktien aus, in die eine
Wandelschuldverschreibung entsprechend der Wandlungserklärung umtauschbar ist.
	 
	 	 	Die Inhaber der Wandelschuldverschreibungen gemäß der Anlage (die ,,Ausübenden
Inhaber“) haben ihr Wandlungsrecht gemäß den Anleihebedingungen für die in der
Anlage aufgeführten Wandelschuldverschreibungen mit dem dort aufgeführten
Gesamtnennbetrag ausgeübt. Die Wandlungsstelle zeichnet hiermit gemäß § 198 AktG im Namen
der Ausübenden Inhaber die in der Anlage aufgeführte Anzahl von Neuen Aktien aus
bedingtem Kapital mit einem anteiligen Betrag des Grundkapitals von € 2,00 je Aktie und mit
Gewinnberechtigung seit Beginn des laufenden Geschäftsjahrs. Die Ausübenden Inhaber
bestätigten hiermit, dass sämtliche Voraussetzungen für die Ausübung ihres Wandlungsrechts
gemäß den Anleihebedingungen vollständig vorliegen.

3

 

	 	 	Die Ausübenden Inhaber haben gemäß den Anleihebedingungen die Übertragung der in der
Anlage aufgeführten Wandelschuldverschreibungen mit dem dort aufgeführten
Gesamtnennbetrag an die Gesellschaft veranlasst.
	 
	 	 	Ein Doppel dieser Bezugserklärung fügen wir bei.
	 
	 	 	Ort, Datum:
	 
	 	 	[Unterschrift]
	 
	 	 	Im Namen der Inhaber der Wandelschuldverschreibungen:
	 
	 	 	Deutsche Bank Trust Company Americas, 60 Wall Street, New York, New York 10005

4

 

Anlage

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	Inhaber der	 	 	Gesamtnennbetrag der	 	 	 	 
	 	Wandelschuld-	 	 	Wandelschuld-	 	 	 	 
	 	verschreibung(en)	 	 	verschreibung(en)	 	 	Anzahl der Aktien	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 

5

 

The German version of this Form of Subscription Certificate is the only legally binding version.

The English translation below is for convenience only.

To:

Qimonda AG

Attn.: Management Board

Gustav-Heinemann-Ring 212

81739 München

[First] [Second] Copy

Subscription Certificate

	I.	 	Resolutions of the shareholders’ meeting of Qimonda AG, Munich (the “Company”)

	 	1.	 	On January 29, 2008, the shareholders’ meeting of the Company resolved to
conditionally increase the Company’s share capital by up to € 165,000,000.00 through
the issuance of up to 82,500,000 new registered ordinary shares (Stammaktien) with no
par value (the “New Shares”) with a notional amount in the Company’s share capital of €
2.00 each (Conditional Capital II/2008).
	 
	 	 	 	The conditional capital increase serves to grant New Shares to the holders or
creditors of convertible and/or warrant bonds, profit-participation rights and/or
income bonds (or any combination of these instruments), which are issued by the
Company or an affiliate against contribution in cash based on the Authorization
II/2008 resolved by the shareholders’ meeting on January 29, 2008 under agenda item
IX no. 2, and which provide for a conversion or option right to New Shares or
stipulate a conversion obligation. The conditional capital increase shall be
carried out only to the extent that option or conversion rights are exercised or the
holders or creditors obligated to convert their bonds fulfill their conversion
obligation and to the extent that no compensation in cash is granted instead and no
shares owned by the Company or new shares issued from authorized capital are used to
satisfy the conversion or option rights or conversion obligations.
	 
	 	 	 	The New Shares shall participate in the Company’s profit from the beginning of the
financial year in which they are issued upon the exercise of option or conversion
rights or the fulfillment of conversion obligations. The Company’s management board
(the “Management Board”) is authorized to determine the further details of the
execution of the conditional capital increase.
	 
	 	2.	 	By resolution of January 29, 2008 (the “Authorization Resolution”), the
shareholders’ meeting authorized the Management Board, subject to approval of the
Company’s supervisory board (the “Supervisory Board”), until January 28, 2013 to issue,
once or several times, unregistered or registered convertible bonds, warrant bonds,
profit-participation rights or income bonds (or any combination of these instruments)
(together the “bonds”) with limited or unlimited maturity and in the aggregate
principal amount of up to € 2,062,500,000.00 and to grant conversion or option rights
to New Shares representing an aggregate notional amount of the

6

 

	 	 	 	Company’s share capital of up to € 165,000,000.00 to the holders or creditors of the
bonds, subject to the more detailed terms and conditions of the bonds.
	 	 	 	The bonds may be issued in Euro or — in an equivalent amount — in another legal
currency, for instance of an OECD country. They may also be issued — in case the
borrowings serve financial interests of the group — by a company, in which Qimonda
AG directly or indirectly holds the majority interest; in such case, the Management
Board is authorized, subject to approval of the Supervisory Board, to guarantee the
bonds and to grant the holders of bonds conversion or option rights to New Shares.
	 
	 	 	 	In case the bonds issued grant a conversion right, the conversion price shall equal
135% of the volume-weighted average price of the Qimonda American Depositary Shares
(“Qimonda-ADS”) at the New York Stock Exchange in the period between the beginning
of the institutional placing (bookbuilding) and the determination of the issue
amount of the bonds as ascertained by the function VAP of the Bloomberg information
system or, in case this function no longer exists at the time of the issue amount of
the bonds is determined, by a comparable function of a comparable information system
(this volume-weighted average price being referred to hereinafter also as the
“Reference Price”). In case one Qimonda-ADS does not exactly represent one ordinary
share in Qimonda AG, (i) the Reference Price of Qimonda-ADS shall be replaced by the
quotient of the share price and the exact number of ordinary shares in Qimonda AG
represented by one Qimonda-ADS and (ii) the closing price referred to above shall be
replaced by the quotient of this closing price and the exact number of ordinary
shares in Qimonda AG represented by one Qimonda-ADS.
	 
	 	 	 	The Management Board is authorized, subject to approval of the Supervisory Board, to
exclude the shareholders’ pre-emptive rights for bonds if the issue price is not
significantly lower than the theoretical market price of the bonds as calculated in
accordance with generally accepted actuarial methods. If bonds are issued in
exclusion of the pre-emptive rights in an analogous application of § 186(3) sentence
4 of the German Stock Corporation Act, this authorization to exclude the pre-emptive
rights shall apply only to the extent that the shares issued or to be issued in
order to satisfy the conversion and option rights or upon fulfilment of the
conversion obligation do not exceed, in total, 10% of the registered share capital,
neither at the time this authorization becomes effective nor at the time it is
exercised. For the calculation of this threshold, any shares issued or sold by the
Company during the period of effectiveness of this authorization in exclusion of the
pre-emptive rights in direct or analogous application of § 186(3) sentence 4 of the
German Stock Corporation Act shall be taken into account. In addition, any shares
issued or still to be issued in order to satisfy conversion or option rights,
provided that the corresponding convertible bonds or warrant bonds have been issued
during the duration of this authorization under exclusion of the pre-emptive rights
in an analogous application of § 186(3) sentence 4 of the German Stock Corporation
Act, shall also be taken into account for the calculation of the 10% threshold. The
Management Board shall also be authorized, subject to approval of the Supervisory
Board, to exclude the shareholders’ pre-emptive rights to bonds with respect to
residual amounts.

	II.	 	Resolution to issue convertible bonds
	 
	 	 	On the basis of the Authorization Resolution, by resolutions passed on February 5, 2008 and
on February 7, 2008, the Management Board, with the consent of the investment, finance and
audit committee of the Supervisory Board (the “Committee”) given on February 5, 2008 and
February 7, 2008, decided to issue 6.75% convertible bonds due 2013 in the aggregate

7

 

	 	 	principal amount of USD 217,647,000 (in words: two hundred
seventeen million six hundred forty-seven thousand U.S. dollars) (the “Issue Proceeds”), convertible
into New Shares, (the “Convertible Bonds”) through Qimonda Finance LLC, Delaware, United
States, a wholly-owned subsidiary of the Company. The Management Board, with the consent of
the Committee, excluded the pre-emptive rights of the Company’s shareholders in connection
with the aforementioned resolutions. The Committee is authorized to approve such exclusion
of the pre-emptive rights pursuant to the rules of procedure of the Supervisory Board.
	 
	 	 	All Issue Proceeds from the issuance of the Convertible Bonds have been passed on to the
Company by Qimonda Finance LLC. Payment of this amount to the Company has been effected in
Euro to a Euro account of the Company. The applicable exchange rate was USD [•] for € 1.00.
The total amount credited to the Company was € [•].
	 
	 	 	Each Convertible Bond, subject to the adjustments pursuant to the terms and conditions of
the Convertible Bonds set forth in the Indenture (the “Conditions”), can be converted, in
accordance with the Conditions, into New Shares at an initial
conversion price of $ 7.2549 per
New Share.
	 
	 	 	The conversion period commenced on March 27, 2008 and will end on the third business day
prior to the maturity date or an earlier redemption date, pursuant to the Conditions.
	 
	III.	 	[Adjustment of conversion ratio
	 
	 	 	Pursuant to the adjustment provisions contained in § 405 and 406 of the Conditions, the conversion
ratio was adjusted as calculated by the Company to the effect that each Convertible Bond in
the nominal amount of USD [•] can be converted into New Shares at a conversion price of
USD [•] per New Share.
	 
	IV.]	 	Exercise of conversion right and subscription
	 
	 	 	Pursuant to § 402 of the First Supplemental Indenture, holders of Convertible Bonds
intending to exercise their conversion right have to submit a conversion notice to Deutsche Bank Trust Company Americas acting as
conversion agent (the “Conversion Agent”). Upon receipt of a valid and irrevocable conversion notice from a holder
of Convertible Bonds, the Conversion Agent, acting on behalf of such person, will submit to
the Company the conversion notice and the subscription certificate pursuant to Section 198
of the German Stock Corporation Act relating to the aggregate number of New Shares into
which the Convertible Bonds can be converted in accordance with the conversion notice.
	 
	 	 	The holders of Convertible Bonds listed in the Appendix hereto, (the “Exercising
Holders of Convertible Bonds”) have exercised, pursuant to the Conditions, their conversion
rights for Convertible Bonds with an aggregate principal amount as set forth in the Appendix hereto. The Conversion Agent hereby subscribes
pursuant to Section 198 of the German Stock Corporation Act, on behalf of the Exercising
Holders of Convertible Bonds, the number of New Shares set forth in the Appendix,
each with a notional amount in the Company’s share capital of € 2.00 and entitled to
dividends as from the beginning of the current fiscal year. The Exercising Holders of
Convertible Bonds hereby confirm that all requirements under the Conditions for the exercise
of their conversion rights have been met.
	 
	 	 	The Exercising Holders of Convertible Bonds have authorized, in accordance with the
Conditions, the transfer to the Company of their respective Convertible Bonds listed in the
Appendix with an aggregate principal amount as set forth therein.
	 
	 	 	A duplicate of this subscription certificate is attached.

8

 

	 	 	Place, Date:
	 
	 	 	[Signature]
	 
	 	 	Acting on behalf of the bondholder:
	 
	 	 	Deutsche Bank Trust Company Americas

60 Wall Street

New York, NY 10005

9

 

Appendix

	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	Aggregate	 	 	Number of	 
	 	Bondholder	 	 	Principal Amount	 	 	Shares	 
	 	 
	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 
	 

10

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