Document:

Registration Rights Agreement, dated as of January 21, 2005

 Exhibit 4.5 
  

REGISTRATION RIGHTS AGREEMENT 
  
 Dated January 21, 2005 
  
 among 
  
 CSN
ISLANDS IX CORP. 
  
 as Issuer, 
  
 COMPANHIA SIDERÚRGICA NACIONAL 
  
 as Guarantor, 
  
 and 
  
 CREDIT SUISSE FIRST BOSTON LLC 
  
 as Initial Purchaser 
  

 1 

 REGISTRATION RIGHTS AGREEMENT 
  
 THIS REGISTRATION RIGHTS AGREEMENT (the “Agreement”) dated as of January 21, 2005, among (i) CSN Islands IX Corp.
(the “Company”), a company organized under the laws of the Cayman Islands (“Cayman Islands”) and a wholly-owned subsidiary of the Guarantor (as defined below), (ii) Companhia Siderúrgica Nacional – CSN (the
“Guarantor”), a sociedade anônima organized and existing under the laws of the Federative Republic of Brazil (“Brazil”), and (iii) Credit Suisse First Boston LLC (“Initial Purchaser”) as initial purchaser
of U.S.$200,000,000 of Company’s 10.00% Notes due January 2015 (the “Additional Notes”) issued on January 21, 2005. 
  
 WITNESSETH 
  
 WHEREAS, the Company, the Guarantor and the Initial Purchaser executed on January 18, 2005, the Additional Purchase Agreement, which provides for the sale
by the Company to the Initial Purchaser of U.S.$200,000,000 aggregate principal amount of the Additional Notes. 
  
 WHEREAS, the Company, the Guarantor, JP Morgan Chase Bank, as Trustee and paying agent in New York, J.P. Morgan Trust Bank Ltd., as principal paying
agent, and J.P. Morgan Bank Luxembourg S.A., as paying agent in Luxembourg, are today entering into a Supplemental Indenture date as of January 21, 2005 amending an Indenture dated as of September 24, 2004 (the “Indenture”), pursuant to
which the Company is today issuing U.S.$200,000,000 aggregate principal amount of its Additional Notes, unconditionally guaranteed by the Guarantor; 
  
 WHEREAS, the Company, the Guarantor and the Initial Purchaser propose that the U.S.$200,000,000 in aggregate principal amount of the Additional Notes sold
pursuant to the Additional Purchase Agreement should have rights and benefits under this Agreement identical to those of holders of U.S.$200,000,000 10.00% Notes (the “Original Notes” and, together with the Additional Notes, the
“Securities”), issued on September 24, 2004, under a Registration Rights Agreement dated September 24, 2004 between the Company, the Guarantor, and Citigroup Global Markets Inc. 
  
 WHEREAS, in order to provide additional liquidity to the holders of the
Securities (the “Holders”), the Company and the Guarantor are willing to enter into this Registration Rights Agreement providing for the registration of the Securities under the Securities Act of 1933, as amended; 
  

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 NOW, THEREFORE, the parties hereto agree as follows: 
  
 1. Definitions. Capitalized terms used herein without definition shall
have their respective meanings set forth in the Additional Purchase Agreement. As used in this Agreement, the following capitalized defined terms shall have the following meanings: 
  
 “Act” shall mean the Securities Act of 1933, as amended, and the rules and regulations of the Commission
promulgated thereunder. 
  
 “Additional Notes” shall
have the meaning set forth in the preamble hereto. 
  
 “Additional Purchase Agreement” shall have the meaning set forth in the preamble hereto. 
  
 “Affiliate” shall have the meaning specified in Rule 405 under the Act and the terms “controlling” and “controlled” shall
have meanings correlative thereto. 
  
 “Broker-Dealer”
shall mean any broker or dealer registered as such under the Exchange Act. 
  
 “Business Day” shall mean any day other than a Saturday, a Sunday or a legal holiday or a day on which banking institutions or trust companies are authorized or obligated by law to close in New York City or
Sao Paulo. 
  
 “Commission” shall mean the Securities
and Exchange Commission. 
  
 “Deferral Period” shall
have the meaning indicated in Section 4(k)(ii) hereof. 
  
 “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder. 
  
 “Exchange Offer Registration Period” shall mean the 180-day following the consummation of the Registered Exchange
Offer, exclusive of any period during which any stop order shall be in effect suspending the effectiveness of the Exchange Offer Registration Statement. 
  
 “Exchange Offer Registration Statement” shall mean a registration statement of the Company and the Guarantor on an appropriate form under the
Act with respect to the Registered Exchange Offer, all amendments and supplements to such registration statement, including post-effective amendments thereto, in each case including the Prospectus contained therein, all exhibits thereto and all
material incorporated by reference therein. 
  
 “Exchanging
Dealer” shall mean any Holder (which may include any Initial Purchaser) that is a Broker-Dealer and elects to exchange for New Securities any Securities that it acquired for its own account as a result of market-making activities or other
trading activities (but not directly from the Company, the Guarantor or any of their Affiliates) for New Securities. 
  

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 “Final Memorandum” shall mean the offering memorandum relating to the Additional Notes,
including any and all exhibits thereto and any information incorporated by reference therein as of such date. 
  
 “Guaranty” shall mean the guaranty of the Securities and the New Securities. 
  
 “Holder” shall have the meaning set forth in the preamble hereto. 
  
 “Indenture” shall mean the document identified in the preamble
hereto, as amended by the Supplemental Indenture and as the same may be further amended from time to time in accordance with the terms thereof. 
  
 “Initial Placement” shall have the meaning set forth in the preamble hereto. 
  
 “Initial Purchaser” shall have the meaning set forth in the preamble hereto. 
  
 “Losses” shall have the meaning set forth in Section 6(d) hereof.

  
 “Majority Holders” shall mean, on any date, Holders
of a majority of the aggregate principal amount of Securities registered under a Registration Statement. 
  
 “Managing Underwriters” shall mean the investment banker or investment bankers and manager or managers that administer an underwritten offering,
if any, under a Registration Statement. 
  
 “NASD Rules”
shall mean the Conduct Rules and the By-Laws of the National Association of Securities Dealers, Inc. 
  
 “New Securities” shall mean debt securities of the Company, unconditionally guaranteed on a senior unsecured basis by the Guarantor, identical
in all material respects to the Securities (except that the transfer restrictions shall be modified or eliminated, as appropriate) to be issued under the Indenture. 
  
 “Original Notes” shall have the meaning set forth in the preamble hereto. 
  
 “Prospectus” shall mean the prospectus included in any Registration
Statement (including, without limitation, a prospectus that discloses information previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A under the Act), as amended or supplemented by any
prospectus supplement, with respect to the terms of the offering of any portion of the Securities or the New Securities covered by such Registration Statement, and all amendments and supplements thereto, including any and all exhibits thereto and
any information incorporated by reference therein. 
  
 “Registered Exchange Offer” shall mean the proposed offer of the Company and the Guarantor to issue and deliver to the Holders of the Securities that are not prohibited by any law or policy of the Commission from participating in
such offer, in exchange for the Securities, a like aggregate principal amount of the New Securities. 
  

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 “Registrable Securities” shall mean (i) outstanding Securities other than those that (A) have
been registered under a Registration Statement and exchanged or disposed of in accordance therewith or (B) are eligible to be distributed to the public pursuant to Rule 144 (k) under the Act or any successor rule or regulation thereto that may be
adopted by the Commission and (ii) any New Securities that have been acquired by a Broker-Dealer in the Registered Exchange Offer in exchange for Securities the resale of which by such Broker-Dealer requires compliance with the prospectus delivery
requirements of the Act. 
  
 “Registration Default
Damages” shall have the meaning set forth in Section 8 hereof. 
  
 “Registration Statement” shall mean any Exchange Offer Registration Statement or Shelf Registration Statement that covers any of the Securities or the New Securities and the related Guaranty pursuant to the
provisions of this Agreement, any amendments and supplements to such registration statement, including post-effective amendments (in each case including the Prospectus contained therein), all exhibits thereto and all material incorporated by
reference therein. 
  
 “Securities” shall have the
meaning set forth in the preamble hereto. 
  
 “Shelf
Registration” shall mean a registration effected pursuant to Section 3 hereof. 
  
 “Shelf Registration Period” has the meaning set forth in Section 3(b) hereof. 
  
 “Shelf Registration Statement” shall mean a “shelf” registration statement of the Company and the Guarantor pursuant to the provisions
of Section 3 hereof which covers some or all of the Securities or the New Securities and the related Guaranty, as applicable, on an appropriate form under Rule 415 under the Act, or any similar rule that may be adopted by the Commission, amendments
and supplements to such registration statement, including post-effective amendments, in each case including the Prospectus contained therein, all exhibits thereto and all material incorporated by reference therein. 
  
 “Trustee” shall mean the trustee with respect to the Securities
under the Indenture. 
  
 “Trust Indenture Act”
shall mean the Trust Indenture Act of 1939, as amended, and the rules and regulations of the Commission promulgated thereunder. 
  
 “Underwriter” shall mean any underwriter of Securities in connection with an offering thereof under a Shelf Registration Statement. 

 
 2. Registered Exchange Offer. (a) Unless not permitted by
applicable law or applicable interpretations thereof by the Commission’s staff, the Company and the Guarantor shall prepare and file with the Commission the Exchange Offer Registration Statement with respect to the Registered Exchange Offer.
The Company and the Guarantor shall use their reasonable best efforts (i) to cause the Exchange Offer Registration Statement to become effective under the Act and (ii) not later than October 31, 2004, to complete the Registered 

  

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Exchange Offer. The Company and the Guarantor may in their discretion accept Registrable Securities after the date that the Company consummates the
Registered Exchange Offer with respect to Registrable Securities tendered as of the date of such consummation and, for purposes of this Agreement, the Registered Exchange Offer shall be deemed to have been timely consummated. 
  
 (b) Upon the effectiveness of the Exchange Offer Registration Statement, the
Company and the Guarantor shall promptly commence the Registered Exchange Offer, it being the objective of such Registered Exchange Offer to enable each Holder electing to exchange Securities for New Securities (assuming that such Holder is not an
Affiliate of the Company or the Guarantor, acquires the New Securities in the ordinary course of such Holder’s business, has no arrangements with any person to participate in the distribution of the New Securities and is not prohibited by any
law or policy of the Commission from participating in the Registered Exchange Offer) to trade such New Securities from and after their receipt without any limitations or restrictions under the Act. 
  
 (c) In connection with the Registered Exchange Offer, the Company and the
Guarantor shall: 
  
 (i) mail to each Holder a
copy of the Prospectus forming part of the Exchange Offer Registration Statement, together with an appropriate letter of transmittal and related documents; 
  
 (ii) keep the Registered Exchange Offer open for not less than 20 Business Days and not more than 40 Business Days after the date notice
thereof is mailed to the Holders (or, in each case, longer if required by applicable law); 
  
 (iii) use their reasonable best efforts to keep the Exchange Offer Registration Statement continuously effective under the Act, and
supplemented and amended as required under the Act, to ensure that it is available for sales of New Securities by Exchanging Dealers during the Exchange Offer Registration Period; 
  
 (iv) utilize the services of a depositary for the Registered Exchange Offer with an address in the Borough
of Manhattan in New York City, which may be the Trustee, or an Affiliate of it; 
  
 (v) permit Holders to withdraw tendered Securities at any time prior to the close of business, New York time, on the last Business Day on
which the Registered Exchange Offer is open; and 
  
 (vi) prior to effectiveness of the Exchange Offer Registration Statement, if then required under applicable interpretations or request by the Commission staff, provide a supplemental letter to the Commission (A) stating that the Company and
the Guarantor are conducting the Registered Exchange Offer in reliance on the position of the Commission in Exxon Capital Holdings 

  

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Corporation (pub. avail. May 13, 1988), Morgan Stanley and Co., Inc. (pub. avail. June 5, 1991); and (B) including a representation that the
Company and the Guarantor have not entered into any arrangement or understanding with any person to distribute the New Securities to be received in the Registered Exchange Offer and that, to the best of the Company and the Guarantor’s
information and belief, each Holder participating in the Registered Exchange Offer is acquiring the New Securities in the ordinary course of business and has no arrangement or understanding with any person to participate in the distribution of the
New Securities; and 
  
 (vii) comply in all
respects with all applicable laws. 
  
 (d) As soon as practicable
after the close of the Registered Exchange Offer, the Company and the Guarantor shall: 
  
 (i) accept for exchange all Securities tendered and not validly withdrawn pursuant to the Registered Exchange Offer; 
  
 (ii) deliver to the Trustee for cancellation in accordance
with Section 4(s) all Securities so accepted for exchange; and 
  
 (iii) instruct the Trustee promptly to authenticate and deliver to each Holder of Securities a principal amount of New Securities equal to the principal amount of the Securities of such Holder so accepted for
exchange. 
  
 (e) Each Holder hereby acknowledges and agrees that
any Broker-Dealer and any such Holder using the Registered Exchange Offer to participate in a distribution of the New Securities (x) could not under Commission policy as in effect on the date of this Agreement rely on the position of the Commission
in Exxon Capital Holdings Corporation (pub. avail. May 13, 1988) and Morgan Stanley and Co., Inc. (pub. avail. June 5, 1991), as interpreted in the Commission’s letter to Shearman & Sterling dated July 2, 1993 and similar
no-action letters; and (y) must comply with the registration and prospectus delivery requirements of the Act in connection with any secondary resale transaction, which must be covered by an effective registration statement containing the selling
security holder information required by Item 507 or 508, as applicable, of Regulation S-K under the Act if the resales are of New Securities obtained by such Holder in exchange for Securities acquired by such Holder directly from the Company or the
Guarantor or one of their Affiliates. Accordingly, each Holder participating in the Registered Exchange Offer shall be required to represent to the Company and the Guarantor that, at the time of the consummation of the Registered Exchange Offer:

  
 (i) any New Securities received by such
Holder will be acquired in the ordinary course of business; 
  
 (ii) such Holder will have no arrangement or understanding with any person to participate in the distribution of the Securities or the New Securities within the meaning of the Act; and 
  

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 (iii) such Holder is not an Affiliate of the Company or the Guarantor. 
  
 (f) If any Initial Purchaser determines that it is not eligible to
participate in the Registered Exchange Offer with respect to the exchange of Securities constituting any portion of an unsold allotment, at the request of such Initial Purchaser, the Company and the Guarantor shall issue and deliver to such Initial
Purchaser or the person purchasing New Securities registered under a Shelf Registration Statement as contemplated by Section 3 hereof from such Initial Purchaser, in exchange for such Securities, a like principal amount of New Securities. The
Company and the Guarantor shall use their reasonable best efforts to cause the CUSIP Service Bureau to issue the same CUSIP number for such New Securities as for New Securities issued pursuant to the Registered Exchange Offer. 
  
 3. Shelf Registration. (a) If (i) due to any change in law or
applicable interpretations thereof by the Commission’s staff, the Company and the Guarantor determine upon advice of their outside counsel that they are not permitted to effect the Registered Exchange Offer as contemplated by Section 2 hereof;
or (ii) for any other reason the Registered Exchange Offer is not consummated on or before October 31, 2005;(iii) any Initial Purchaser so requests with respect to Registrable Securities that, upon advice of counsel, are not eligible under
applicable law to be exchanged for New Securities in the Registered Exchange Offer and that are held by it following consummation of the Registered Exchange Offer; (iv) any Holder (other than an Initial Purchaser) who, upon advice of counsel, is not
eligible under applicable law to participate in the Registered Exchange Offer; or (v) in the case of any Initial Purchaser that participates in the Registered Exchange Offer or acquires New Securities pursuant to Section 2(f) hereof, such Initial
Purchaser does not receive freely tradeable New Securities in exchange for Securities constituting any portion of an unsold allotment (it being understood that (x) the requirement that an Initial Purchaser deliver a Prospectus containing the
information required by Item 507 or 508 of Regulation S-K under the Act in connection with sales of New Securities acquired in exchange for such Securities shall result in such New Securities being not “freely tradeable”; and (y) the
requirement that an Exchanging Dealer deliver a Prospectus in connection with sales of New Securities acquired in the Registered Exchange Offer in exchange for Securities acquired as a result of market-making activities or other trading activities
shall not result in such New Securities being not “freely tradeable”), the Company and the Guarantor shall effect a Shelf Registration Statement in accordance with subsection (b) below. 
  
 (b) (i) The Company and the Guarantor shall (after so required or requested
pursuant to this Section 3), file with the Commission and shall use their reasonable best efforts to cause to be declared effective under the Act within 90 days after so required or requested, a Shelf Registration Statement relating to the offer and
sale of the Securities or the New Securities, as applicable, by the Holders thereof from time to time in accordance with the methods of distribution elected by such Holders and set forth in such Shelf Registration Statement; provided, however, that
no Holder (other than an Initial Purchaser) shall be entitled to have the Securities held by it covered by such Shelf Registration Statement unless such Holder agrees in writing to be bound by all of the provisions of this Agreement applicable to
such Holder; and provided further, that with respect to New Securities received by an Initial Purchaser in exchange for Securities constituting any portion of an unsold allotment, the Company and the Guarantor may, if permitted by current
interpretations by the Commission’s staff, file a post-effective 

  

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amendment to the Exchange Offer Registration Statement containing the information required by Item 507 or 508 of Regulation S-K, as applicable, in
satisfaction of their obligations under this subsection with respect thereto, and any such Exchange Offer Registration Statement, as so amended, shall be referred to herein as, and governed by the provisions herein applicable to, a Shelf
Registration Statement. 
  
 (ii) The Company and
the Guarantor shall use their reasonable best efforts to keep the Shelf Registration Statement continuously effective, supplemented and amended as required by the Act, in order to permit the Prospectus forming part thereof to be usable by Holders
for a period (the “Shelf Registration Period”) from the date the Shelf Registration Statement is declared effective by the Commission until (A) the second anniversary of the Issue Date or (B) for such shorter period that will terminate on
the date upon which all the Registrable Securities covered by the Shelf Registration Statement have been sold pursuant to the Shelf Registration Statement or otherwise cease to be Registrable Securities; provided, however, that the Company and the
Guarantor shall have the right to suspend the disposition of Registrable Securities pursuant thereto in accordance with Section 4(j)(ii). The Company and the Guarantor shall be deemed not to have used their reasonable best efforts to keep the Shelf
Registration Statement effective during the Shelf Registration Period if they voluntarily take any action that would result in Holders of Securities covered thereby not being able to offer and sell such Securities at any time during the Shelf
Registration Period, unless such action is (x) required by applicable law or otherwise undertaken by the Company or the Guarantor in good faith and for valid business reasons (not including avoidance of the Company or the Guarantor’s
obligations hereunder), including the acquisition or divestiture of assets, or (y) permitted pursuant to Section 4(j)(ii) hereof. 
  
 (iii) The Company and the Guarantor shall cause the Shelf Registration Statement and the related Prospectus and any amendment or
supplement thereto, as of the effective date of the Shelf Registration Statement or such amendment or supplement, (A) to comply in all material respects with the applicable requirements of the Act; and (B) not to contain any untrue statement of a
material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein (in the case of the Prospectus, in the light of the circumstances under which they were made) not misleading.

  
 4. Additional Registration Procedures. In connection
with any Shelf Registration Statement and, to the extent applicable, any Exchange Offer Registration Statement, the following provisions shall apply. 
  
 (a) The Company and the Guarantor shall: 
  
 (i) furnish to the Initial Purchaser and, in the case of a Shelf Registration Statement, furnish to counsel for the Holders, not less than
five Business Days prior to the filing thereof with the Commission, a copy of any 

  

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Exchange Offer Registration Statement and any Shelf Registration Statement, and each amendment thereof and each amendment or supplement, if any, to the
Prospectus included therein (including all documents incorporated by reference therein after the initial filing) and shall use their reasonable best efforts to reflect in each such document, when so filed with the Commission, such comments as the
Initial Purchaser reasonably propose; 
  
 (ii)
include the information set forth in Annex A hereto on the facing page of the Exchange Offer Registration Statement, in Annex B hereto in the forepart of the Exchange Offer Registration Statement in a section setting forth details of the Exchange
Offer, in Annex C hereto in the underwriting or plan of distribution section of the Prospectus contained in the Exchange Offer Registration Statement, and in Annex D hereto in the letter of transmittal delivered pursuant to the Registered Exchange
Offer; 
  
 (iii) if requested by an Initial
Purchaser, include the information required by Item 507 or 508 of Regulation S-K, as applicable, in the Prospectus contained in the Exchange Offer Registration Statement; and 
  
 (iv) in the case of a Shelf Registration Statement and subject to Section 4(n), include the names of the
Holders that propose to sell Securities pursuant to the Shelf Registration Statement as selling security holders. 
  
 (b) The Company and the Guarantor shall ensure that: 
  
 (i) any Registration Statement and any amendment thereto and any Prospectus forming part thereof and any amendment or supplement thereto
complies in all material respects with the Act; and 
  
 (ii) any Registration Statement and any amendment thereto does not, when it becomes effective, contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements
therein not misleading. 
  
 (c) The Company and the Guarantor
shall advise the Initial Purchaser, the Holders of Securities covered by any Shelf Registration Statement and any Exchanging Dealer under any Exchange Offer Registration Statement that has provided in writing to the Company a telephone or facsimile
number and address for notices, and, if requested by the Initial Purchaser or any such Holder or Exchanging Dealer, shall confirm such advice in writing (which notice pursuant to clauses (ii)-(v) hereof shall be accompanied by an instruction to
suspend the use of the Prospectus until the Company and the Guarantor shall have remedied the basis for such suspension): 
  
 (i) when a Registration Statement and any amendment thereto has been filed with the Commission and when the Registration Statement or any
post-effective amendment thereto has become effective; 
  

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 (ii) of any request by the Commission for any amendment or supplement to the Registration
Statement or the Prospectus or for additional information; 
  
 (iii) of the issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement or the institution or threatening of any proceeding for that purpose; 
  
 (iv) of the receipt by the Company or the Guarantor of any
notification with respect to the suspension of the qualification of the securities included therein for sale in any jurisdiction or the institution or threatening of any proceeding for such purpose; and 
  
 (v) of the happening of any event that requires any change
in the Registration Statement or the Prospectus so that, as of such date, they (A) do not contain any untrue statement of a material fact and (B) do not omit to state a material fact required to be stated therein or necessary to make the statements
therein (in the case of the Prospectus, in the light of the circumstances under which they were made) not misleading. 
  
 (d) The Company and the Guarantor shall use their reasonable best efforts to prevent the issuance of any order suspending the effectiveness of any
Registration Statement or the qualification of the securities therein for sale in any jurisdiction and, if issued, to obtain as soon as possible the withdrawal thereof. 
  
 (e) The Company and the Guarantor shall furnish to each Holder of Securities covered by any Shelf Registration Statement,
without charge, at least one copy of such Shelf Registration Statement and any post-effective amendment thereto, and, if the Holder so requests in writing, all material incorporated therein by reference and all exhibits thereto (including exhibits
incorporated by reference therein). 
  
 (f) The Company and the
Guarantor shall, during the Shelf Registration Period, deliver to each Holder of Securities covered by any Shelf Registration Statement, without charge, as many copies of the Prospectus (including the Preliminary Prospectus) included in such Shelf
Registration Statement and any amendment or supplement thereto as such Holder may reasonably request. Subject to any notice suspending the use of the Prospectus, the Company and the Guarantor consent to the use of the Prospectus or any amendment or
supplement thereto by each of the selling Holders of Securities in connection with the offering and sale of the Securities covered by the Prospectus, or any amendment or supplement thereto, included in the Shelf Registration Statement. 

 
 (g) The Company and the Guarantor shall furnish to each Exchanging Dealer
which so requests, without charge, at least one copy of the Exchange Offer Registration Statement and any post-effective amendment thereto, and, if the Exchanging Dealer so requests in writing, all material incorporated by reference therein andall
exhibits thereto (including exhibits incorporated by reference therein). 
  

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 (h) The Company and the Guarantor shall promptly deliver to each Initial Purchaser, each Exchanging
Dealer and each other person required to deliver a Prospectus during the Exchange Offer Registration Period, without charge, as many copies of the Prospectus included in such Exchange Offer Registration Statement and any amendment or supplement
thereto as any such person may reasonably request. Subject to any notice suspending the use of the Prospectus, the Company and the Guarantor consent to the use of the Prospectus or any amendment or supplement thereto by any Initial Purchaser, any
Exchanging Dealer and any such other person that may be required to deliver a Prospectus following the Registered Exchange Offer in connection with the offering and sale of the New Securities covered by the Prospectus, or any amendment or supplement
thereto, included in the Exchange Offer Registration Statement. 
  
 (i) Prior to the Registered Exchange Offer or any other offering of Securities pursuant to any Registration Statement, the Company and the Guarantor shall arrange, if necessary, for the qualification of the Securities or the New Securities
for sale under the laws of such jurisdictions as any Holder shall reasonably request and shall maintain such qualification in effect so long as required; provided that in no event shall the Company and the Guarantor be obligated to qualify to do
business in any jurisdiction where they are not then so qualified or to take any action that would subject them to service of process in suits, other than those arising out of the Initial Placement, the Registered Exchange Offer or any offering
pursuant to a Shelf Registration Statement, in any such jurisdiction where they are not then so subject. 
  
 (j) The Company and the Guarantor shall cooperate with the Holders of Securities to facilitate the timely preparation and delivery of certificates
representing New Securities or Securities to be issued or sold pursuant to any Registration Statement free of any restrictive legends and in such denominations and registered in such names as Holders may request. 
  
 (k) (i) Upon the occurrence of any event contemplated by subsections (c)(ii)
through (v) above, the Company and the Guarantor shall promptly (or within the time period provided for by clause (ii) hereof, if applicable) prepare a post-effective amendment to the applicable Registration Statement or an amendment or supplement
to the related Prospectus or file any other required document so that, as thereafter delivered to Initial Purchaser of the securities included therein, the Prospectus will not include an untrue statement of a material fact or omit to state any
material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. In such circumstances, the period of effectiveness of the Exchange Offer
Registration Statement provided for in Section 2 shall be extended by the number of days from and including the date of the giving of a notice of suspension pursuant to Section 4(c) to and including the date when the Initial Purchaser, the Holders
of the Securities and any known Exchanging Dealer shall have received such amended or supplemented Prospectus pursuant to this Section. 
  
 (ii) Upon the occurrence or existence of any pending corporate development or any other material event that, in the reasonable judgment of
the Company and the Guarantor, makes it appropriate to suspend the availability of a 

  

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Shelf Registration Statement and the related Prospectus, the Company and the Guarantor shall give notice (without notice of the nature or details of such
events) to the Holders that the availability of the Shelf Registration is suspended and, upon actual receipt of any such notice, each Holder agrees not to sell any Registrable Securities pursuant to the Shelf Registration until such Holder’s
receipt of copies of the supplemented or amended Prospectus provided for in Section 3(k)(i) hereof, or until it is advised in writing by the Company and the Guarantor that the Prospectus may be used, and has received copies of any additional or
supplemental filings that are incorporated or deemed incorporated by reference in such Prospectus. The period during which the availability of the Shelf Registration and any Prospectus is suspended (the “Deferral Period”) shall not exceed
60 days in any three-month period or 90 days in any twelve-month period. 
  
 (l) Not later than the effective date of any Shelf Registration Statement or the consummation of the Registered Exchange Offer if under the Exchange Offer Registration Statement, the Company and the Guarantor shall
provide a CUSIP number for the New Securities registered under such Registration Statement and provide the Trustee with printed certificates for such New Securities, in a form eligible for deposit with The Depository Trust Company. 
  
 (m) The Company and the Guarantor shall comply with all applicable rules and
regulations of the Commission and shall make generally available to the holders of securities of the Company an earnings statement satisfying the provisions of Section 11(a) of the Act as soon as practicable after the effective date of the
applicable Registration Statement and in any event no later than 45 days after the end of a 12-month period (or 90 days, if such period is a fiscal year) beginning with the first month of the Company’s first fiscal quarter commencing after the
effective date of the applicable Registration Statement. 
  
 (n)
The Company and the Guarantor shall cause the Indenture to be qualified under the Trust Indenture Act in a timely manner. 
  
 (o) The Company and the Guarantor may require each Holder of securities to be sold pursuant to any Shelf Registration Statement to furnish to the Company
such information regarding the Holder and the distribution of such securities as the Company and the Guarantor may from time to time reasonably require for inclusion in such Registration Statement. The Company and the Guarantor may exclude from such
Shelf Registration Statement the Securities of any Holder that unreasonably fails to furnish such information within a reasonable time after receiving such request. Each Holder agrees to promptly furnish to the Company and the Guarantor all
information required to be disclosed in order to make the information previously furnished not materially misleading. 
  
 (p) In the case of any Shelf Registration Statement, the Company and the Guarantor shall enter into customary agreements (including, if requested, an
underwriting agreement in customary form) and take all other appropriate actions in order to expedite or facilitate the registration or the disposition of the Registrable Securities, and in connection 

  

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therewith, if an underwriting agreement is entered into, cause the same to contain indemnification provisions and procedures no less favorable than those set
forth in Section 6 hereof. 
  
 (q) In the case of any underwritten
offering under the Shelf Registration Statement, the Company and the Guarantor shall: 
  
 (i) make reasonably available for inspection by any underwriter participating in any disposition pursuant to such Registration Statement,
and any attorney, accountant or other agent retained by any such underwriter all relevant financial and other records and pertinent corporate documents of the Company, the Guarantor and their subsidiaries; 
  
 (ii) cause the Company’s and the Guarantor’s
officers, directors, employees, accountants and auditors to supply all relevant information reasonably requested by such underwriter, attorney, accountant or agent in connection with any such Registration Statement as is customary for similar due
diligence examinations; 
  
 (iii) make such
representations and warranties to the underwriters in form, substance and scope as are customarily made by issuers to underwriters in primary underwritten offerings; 
  
 (iv) obtain opinions of counsel to the Company and the Guarantor and updates thereof (which counsel and
opinions (in form, scope and substance) shall be reasonably satisfactory to the Managing Underwriters) addressed to the underwriters covering such matters as are customarily covered in opinions requested in underwritten offerings; 
  
 (v) obtain “comfort” letters and updates thereof
from the independent certified public accountants of the Company and the Guarantor (and, if necessary, any other independent certified public accountants of any subsidiary of the Company or the Guarantor or of any business acquired by the Company or
the Guarantor for which financial statements and financial data are, or are required to be, included in the Registration Statement), addressed to the underwriters in customary form and covering matters of the type customarily covered in
“comfort” letters in connection with primary underwritten offerings; and 
  
 (vi) deliver such documents and certificates as may be reasonably requested by the Managing Underwriters including those to evidence
compliance with Section 4(j) and with any customary conditions contained in the underwriting agreement or other agreement entered into by the Company or the Guarantor. 
  

 14 

 The actions set forth in clauses (iii), (iv), (v) and (vi) of this paragraph (q) shall be performed at each closing under
any underwriting or similar agreement as and to the extent required thereunder. 
  
 (r) In the case of any Exchange Offer Registration Statement, the Company and the Guarantor shall, if requested by an Initial Purchaser: 
  
 (i) make reasonably available for inspection by the requesting party, and any attorney, accountant or other
agent retained by the requesting party, all relevant financial and other records, pertinent corporate documents and properties of the Company, the Guarantor and their subsidiaries; 
  
 (ii) cause the Company and the Guarantor’s officers, directors, employees, accountants and auditors to
supply all relevant information reasonably requested by the requesting party or any such attorney, accountant or agent in connection with any such Registration Statement as is customary for similar due diligence examinations; 
  
 (iii) make such representations and warranties to the
requesting party, in form, substance and scope as are customarily made by issuers to underwriters in primary underwritten offerings and covering matters including, but not limited to, those set forth in the Additional Purchase Agreement; 

 
 (iv) obtain opinions of counsel to the Company and the
Guarantor and updates thereof (which counsel and opinions (in form, scope and substance) shall be reasonably satisfactory to the requesting party and its counsel, addressed to the requesting party, covering such matters as are customarily covered in
opinions requested in underwritten offerings and such other matters as may be reasonably requested by the requesting party or its counsel; 
  
 (v) obtain “comfort” letters and updates thereof from the independent certified public accountants of the Company and the
Guarantor (and, if necessary, any other independent certified public accountants of any subsidiary of the Company or the Guarantor or of any business acquired by the Company or the Guarantor for which financial statements and financial data are, or
are required to be, included in the Registration Statement), addressed to the requesting party, in customary form and covering matters of the type customarily covered in “comfort” letters in connection with primary underwritten offerings,
or if requested by the requesting party or its counsel in lieu of a “comfort” letter, an agreed-upon procedures letter under Statement on Auditing Standards No. 35, covering matters requested by the requesting party or its counsel; and

  
 (vi) deliver such documents and certificates
as may be reasonably requested by the requesting party or its counsel, including those to evidence compliance with Section 4(j) and with conditions customarily contained in underwriting agreements. 
  
 The foregoing actions set forth in clauses (iii), (iv), (v),
and (vi) of this Section shall be performed at the close of the Registered Exchange Offer and the effective date of any post-effective amendment to the Exchange Offer Registration Statement. 
  

 15 

 (s) If a Registered Exchange Offer is to be consummated, upon delivery of the Securities by Holders to
the Company (or to such other person as directed by the Company) in exchange for the New Securities, the Company and the Guarantor shall mark, or caused to be marked, on the Securities so exchanged that such Securities are being cancelled in
exchange for the New Securities. In no event shall the Securities be marked as paid or otherwise satisfied. 
  
 (t) If requested by the Managing Underwriters in connection with underwritten offering under the Shelf Registration Statement, the Company and the
Guarantor shall use their reasonable best efforts if the Securities have been rated prior to the initial sale of such Securities, to confirm such ratings will apply to the New Securities covered by such Shelf Registration Statement. 
  
 (u) In the event that any Broker-Dealer shall underwrite any Securities or
participate as a member of an underwriting syndicate or selling group or “assist in the distribution” (within the meaning of the NASD Rules) thereof, whether as a Holder of such Securities or as an underwriter, a placement or sales agent
or a broker or dealer in respect thereof, or otherwise, the Company and the Guarantor shall use their reasonable best efforts to assist such Broker-Dealer in complying with the NASD Rules. 
  
 (v) The Company and the Guarantor shall use their reasonable best efforts to
take all other steps necessary to effect the registration of the Registrable Securities and the Guaranty covered by a Registration Statement. 
  
 5. Registration Expenses. The Company and the Guarantor shall bear all expenses incurred in connection with the performance of their obligations
under Sections 2, 3 and 4 hereof and, in the event of any Shelf Registration Statement, will reimburse the Holders for the reasonable fees and disbursements of one firm or counsel (which shall initially be Cleary Gottlieb Steen &
Hamilton, but which may be another nationally recognized law firm experienced in securities matters designated by the Majority Holders) to act as counsel for the Holders in connection therewith. Except as set forth in the preceding sentence,
the Company and the Guarantor shall not be required to bear any expenses, fees or disbursements of counsel to the Initial Purchaser, any underwriter or any Holder or any underwriting discounts and commissions or transfer taxes, if any, relating to
the sale or disposition of Registrable Securities by such persons. 
  
 6. Indemnification and Contribution. (a) The Company and the Guarantor agree to indemnify and hold harmless each Holder of Securities or New Securities, as the case may be, covered by any Registration Statement, each Initial
Purchaser and, with respect to any Prospectus delivery as contemplated in Section 4(g) hereof, each Exchanging Dealer, the directors, officers, employees, Affiliates and agents of each such Holder, Initial Purchaser or Exchanging Dealer and each
person who controls any such Holder, Initial Purchaser or Exchanging Dealer within the meaning of either the Act or the Exchange Act against any and all losses, claims, damages or liabilities, joint or several, to which they or any of them may
become subject under the Act, the Exchange Act or other federal or state statutory law or regulation, at common law or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon
any untrue statement or alleged untrue statement 

  

 16 

 
of a material fact contained in the Registration Statement as originally filed or in any amendment thereof, or in any preliminary Prospectus or the
Prospectus, or in any amendment thereof or supplement thereto, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein (in the case
of any preliminary Prospectus or the Prospectus, in the light of the circumstances under which they were made) not misleading, and agrees to reimburse each such indemnified party, as incurred, for any legal or other expenses reasonably incurred by
it in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company and the Guarantor will not be liable in any such case to the extent that any such loss, claim,
damage or liability arises out of or is based upon any such untrue statement or alleged untrue statement or omission or alleged omission made therein in reliance upon and in conformity with written information furnished to the Company or the
Guarantor by or on behalf of the party claiming indemnification specifically for inclusion therein; provided further, that with respect to any untrue statement or omission of material fact made in any preliminary Prospectus in connection with
a Shelf Registration Statement, the indemnity agreement contained in this Section 6(a) shall not inure to the benefit of any party claiming indemnification from whom the person asserting any such loss, claim, damage or liability purchased the
securities concerned, to the extent that any such loss, claim, damage or liability of such party claiming indemnification occurs under the circumstance where it shall have been determined by a court of competent jurisdiction by final and
nonappealable judgment that (w) the Company or the Guarantor had previously furnished copies of the Prospectus to the party claiming indemnification, (x) delivery of the Prospectus was required by the Act to be made by the party claiming
indemnification to such person, (y) the untrue statement or omission of a material fact contained in the preliminary Prospectus was corrected in the Prospectus and (z) there was not sent or given to such person, at or prior to the written
confirmation of the sale of such securities to such person, a copy of the Prospectus. This indemnity agreement shall be in addition to any liability that the Company and the Guarantor may otherwise have. 
  
 The Company and the Guarantor also agree to indemnify as provided in this
Section 6(a) or contribute as provided in Section 6(d) hereof to Losses of each underwriter, if any, of Securities or New Securities, as the case may be, registered under a Shelf Registration Statement, their directors, officers, employees,
Affiliates or agents and each person who controls such underwriter on substantially the same basis as that of the indemnification of the Initial Purchaser and the selling Holders provided in this Section 6(a) and shall, if requested by any Holder,
enter into an underwriting agreement reflecting such agreement, as provided in Section 4(p) hereof. 
  
 (b) Each Holder of securities covered by a Registration Statement (including each Initial Purchaser that is a Holder, in such capacity) severally and not
jointly agrees to indemnify and hold harmless the Company and the Guarantor, each of their directors, each of their officers who signs such Registration Statement and each person who controls the Company or the Guarantor within the meaning of either
the Act or the Exchange Act, to the same extent as the foregoing indemnity from the Company and the Guarantor to each such Holder, but only with reference to written information relating to such Holder furnished to the Company or the Guarantor by or
on behalf of such Holder specifically for inclusion in the documents referred to 

  

 17 

 
in the foregoing indemnity. This indemnity agreement will be in addition to any liability that any such Holder may otherwise have. 
  
 (c) Promptly after receipt by an indemnified party under this Section 6 or
notice of the commencement of any action, such indemnified party will, if a claim in respect thereof is to be made against the indemnifying party under this Section, notify the indemnifying party in writing of the commencement thereof; but the
failure so to notify the indemnifying party (i) will not relieve it from liability under paragraph (a) or (b) above unless and to the extent it did not otherwise learn of such action and such failure results in the forfeiture by the indemnifying
party of substantial rights and defenses; and (ii) will not, in any event, relieve the indemnifying party from any obligations to any indemnified party other than the indemnification obligation provided in paragraph (a) or (b) above. The
indemnifying party shall be entitled to appoint counsel (including local counsel) of the indemnifying party’s choice at the indemnifying party’s expense to represent the indemnified party in any action for which indemnification is sought
(in which case the indemnifying party shall not thereafter be responsible for the fees and expenses of any separate counsel, other than local counsel if not appointed by the indemnifying party, retained by the indemnified party or parties except as
set forth below); provided, however, that such counsel shall be satisfactory to the indemnified party. Notwithstanding the indemnifying party’s election to appoint counsel (including local counsel) to represent the indemnified party in
an action, the indemnified party shall have the right to employ separate counsel (including local counsel), and the indemnifying party shall bear the reasonable fees, costs and expenses of such separate counsel if (i) the use of counsel chosen by
the indemnifying party to represent the indemnified party would present such counsel with a conflict of interest; (ii) the actual or potential defendants in, or targets of, any such action include both the indemnified party and the indemnifying
party and the indemnified party shall have reasonably concluded that there may be legal defenses available to it and/or other indemnified parties that are different from or additional to those available to the indemnifying party; (iii) the
indemnifying party shall not have employed counsel satisfactory to the indemnified party to represent the indemnified party within a reasonable time after notice of the institution of such action; or (iv) the indemnifying party shall authorize the
indemnified party to employ separate counsel at the expense of the indemnifying party. An indemnifying party will not, without the prior written consent of the indemnified parties, settle or compromise or consent to the entry of any judgment with
respect to any pending or threatened claim, action, suit or proceeding in respect of which indemnification or contribution may be sought hereunder (whether or not the indemnified parties are actual or potential parties to such claim or action)
unless such settlement, compromise or consent includes an unconditional release of each indemnified party from all liability arising out of such claim, action, suit or proceeding. 
  
 (d) In the event that the indemnity provided in paragraph (a) or (b) of this Section is unavailable to or insufficient to
hold harmless an indemnified party for any reason, then each applicable indemnifying party shall have a joint and several obligation to contribute to the aggregate losses, claims, damages and liabilities (including legal or other expenses reasonably
incurred in connection with investigating or defending any loss, claim, liability, damage or action) (collectively “Losses”) to which such indemnified party may be subject in such proportion as is appropriate to reflect the relative
benefits received by such indemnifying party, on the one hand, and such indemnified party, on the other hand, from the Initial Placement 

  

 18 

 
and the Registration Statement which resulted in such Losses; provided, however, that in no case shall any Initial Purchaser be responsible, in
the aggregate, for any amount in excess of the purchase discount or commission applicable to such Security, or in the case of a New Security, applicable to the Security that was exchangeable into such New Security, as set forth in the Final
Memorandum, nor shall any underwriter be responsible for any amount in excess of the underwriting discount or commission applicable to the securities purchased by such underwriter under the Registration Statement which resulted in such Losses. If
the allocation provided by the immediately preceding sentence is unavailable for any reason, the indemnifying party and the indemnified party shall contribute in such proportion as is appropriate to reflect not only such relative benefits but also
the relative fault of such indemnifying party, on the one hand, and such indemnified party, on the other hand, in connection with the statements or omissions which resulted in such Losses as well as any other relevant equitable considerations.
Benefits received by the Company shall be deemed to be equal to the total net proceeds from the Initial Placement (before deducting expenses) as set forth in the Final Memorandum. Benefits received by the Initial Purchaser shall be deemed to be
equal to the total purchase discounts and commissions as set forth on the cover page of the Final Memorandum, and benefits received by any other Holders shall be deemed to be equal to the value of receiving Securities or New Securities, as
applicable, registered under the Act. Benefits received by any underwriter shall be deemed to be equal to the total underwriting discounts and commissions, as set forth on the cover page of the Prospectus forming a part of the Registration Statement
which resulted in such Losses. Relative fault shall be determined by reference to, among other things, whether any untrue or any alleged untrue statement of a material fact or omission or alleged omission to state a material fact relates to
information provided by the indemnifying party, on the one hand, or by the indemnified party, on the other hand, the intent of the parties and their relative knowledge, access to information and opportunity to correct or prevent such untrue
statement or omission. The parties agree that it would not be just and equitable if contribution were determined by pro rata allocation (even if the Holders were treated as one entity for such purpose) or any other method of allocation which does
not take account of the equitable considerations referred to above. Notwithstanding the provisions of this paragraph (d), no person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to
contribution from any person who was not guilty of such fraudulent misrepresentation. For purposes of this Section, each person who controls a Holder within the meaning of either the Act or the Exchange Act and each director, officer, employee and
agent of such Holder shall have the same rights to contribution as such Holder, and each person who controls the Company or the Guarantor within the meaning of either the Act or the Exchange Act, each officer of the Company or the Guarantor who
shall have signed the Registration Statement and each director of the Company or the Guarantor shall have the same rights to contribution as the Company and the Guarantor, subject in each case to the applicable terms and conditions of this paragraph
(d). 
  
 (e) The provisions of this Section will remain in full
force and effect, regardless of any investigation made by or on behalf of any Holder, the Company or the Guarantor or any of the indemnified persons referred to in this Section 6, and will survive the sale by a Holder of securities covered by a
Registration Statement. 
  
 7. Underwritten Registrations.
(a) If any of the Securities or New Securities, as the case may be, covered by any Shelf Registration Statement are to be sold in an underwritten 

  

 19 

 
offering, the Managing Underwriters shall be selected by the Majority Holders and shall be reasonably acceptable to the Company and the Guarantor.

  
 (b) No person may participate in any underwritten offering
pursuant to any Shelf Registration Statement, unless such person (i) agrees to sell such person’s Securities or New Securities, as the case may be, on the basis reasonably provided in any underwriting arrangements approved by the persons
entitled hereunder to approve such arrangements; and (ii) completes and executes all questionnaires, powers of attorney, indemnities, underwriting agreements and other documents reasonably required under the terms of such underwriting arrangements.

  
 8. Registration Defaults. If any of the following
events shall occur, then the Company and the Guarantor shall pay liquidated damages (the “Registration Default Damages”) to the Holders of Securities in respect of the Securities as follows: 
  
 (a) if the Registered Exchange Offer is not completed on or prior to October
31, 2005, then Registration Default Damages shall accrue on the Registrable Securities at a rate of 0.5% per annum from and including such specified date; or 
  
 (b) if any Shelf Registration Statement required by this Agreement is not declared effective by the Commission on or prior to the date by which reasonable
best efforts are to be used to cause such effectiveness under this Agreement, then commencing on the day after such specified date, Registration Default Damages shall accrue on the Registrable Securities at a rate of 0.5% per annum from and
including such specified date; or 
  
 (c) if any Registration
Statement required by this Agreement has been declared effective but ceases to be effective at any time at which it is required to be effective under this Agreement, then commencing on the day the Registration Statement ceases to be effective,
Registration Default Damages shall accrue on the Registrable Securities at a rate of 0.5% per annum from and including such date on which the Registration Statement ceases to be effective; 
  
 provided, however, that (1) upon the completion of the Registered Exchange
Offer (in the case of paragraph (a) above), (2) upon the effectiveness of the Shelf Registration Statement (in the case of paragraph (b) above), or (3) upon the effectiveness of the Registration Statement which had ceased to remain effective (in the
case of paragraph (c) above), Registration Default Damages shall cease (as of the date prior to the date on which all Registration Defaults have been cured) to accrue. 
  
 9. No Inconsistent Agreements. The Company and the Guarantor have not entered into, and agree not to enter into, any
agreement with respect to the securities of or guaranteed by the Company or the Guarantor that is inconsistent with the rights granted to the Holders herein or that otherwise conflicts with the provisions hereof. 
  
 10. Amendments and Waivers. The provisions of this Agreement may not
be amended, qualified, modified or supplemented, and waivers or consents to departures from the 

  

 20 

 
provisions hereof may not be given, unless the Company and the Guarantor have obtained the written consent of the Holders of a majority of the aggregate
principal amount of the Registrable Securities outstanding; provided that, with respect to any matter that directly or indirectly affects the rights of any Initial Purchaser hereunder, the Company and the Guarantor shall obtain the written
consent of each such Initial Purchaser against which such amendment, qualification, supplement, waiver or consent is to be effective; provided, further, that no amendment, qualification, supplement, waiver or consent with respect to
Section 8 hereof shall be effective as against any Holder of Registered Securities unless consented to in writing by such Holder; and provided, further, that the provisions of this Article 10 may not be amended, qualified, modified or
supplemented, and waivers or consents to departures from the provisions hereof may not be given, unless the Company and the Guarantor have obtained the written consent of the Initial Purchaser and each Holder. Notwithstanding the foregoing (except
the foregoing provisos), a waiver or consent to departure from the provisions hereof with respect to a matter that relates exclusively to the rights of Holders whose Securities or New Securities, as the case may be, are being sold pursuant to a
Registration Statement and that does not directly or indirectly affect the rights of other Holders may be given by the Majority Holders, determined on the basis of Securities or New Securities, as the case may be, being sold rather than registered
under such Registration Statement. 
  
 11. Notices. All
notices and other communications provided for or permitted hereunder shall be made in writing by hand-delivery, first-class mail, telex, telecopier or air courier guaranteeing overnight delivery: 
  
 (a) if to a Holder, at the most current address given by such holder to the
Company in accordance with the provisions of this Section 11, which address initially is, with respect to each Holder, the address of such Holder maintained by the Registrar under the Indenture; 
  
 (b) if to the Initial Purchaser, initially at the address or addresses set
forth in the Additional Purchase Agreement; and 
  
 (c) if to the
Company or the Guarantor, initially at their respective addresses set forth in the Additional Purchase Agreement. 
  
 All such notices and communications shall be deemed to have been duly given when received. 
  
 The Initial Purchaser, the Company or the Guarantor by notice to the other parties may designate additional or different
addresses for subsequent notices or communications. 
  
 12.
Remedies. Each Holder, in addition to being entitled to exercise all rights provided to it herein, in the Indenture or in the Additional Purchase Agreement or granted by law, including recovery of liquidated or other damages, will be entitled
to specific performance of its rights under this Agreement. The Company and the Guarantor agree that monetary damages would not be adequate compensation for any loss incurred by reason of a breach by 

  

 21 

 
them of the provisions of this Agreement and hereby agree to waive in any action for specific performance the defense that a remedy at law would be adequate.

  
 13. Successors. This Agreement shall inure to the
benefit of and be binding upon the parties hereto, their respective successors and assigns, including, without the need for an express assignment or any consent by the Company or the Guarantor thereto, subsequent Holders of Securities and the New
Securities, and the indemnified persons referred to in Section 6 hereof. The Company and the Guarantor hereby agree to extend the benefits of this Agreement to any Holder of Securities and the New Securities, and any such Holder may specifically
enforce the provisions of this Agreement as if an original party hereto. 
  
 14. Jurisdiction. The Company and the Guarantor agree that any suit, action or proceeding against the Company or the Guarantor brought by any Holder or Initial Purchaser, the directors, officers, employees,
Affiliates and agents of any Holder or Initial Purchaser, or by any person who controls any Holder or Initial Purchaser, arising out of or based upon this Agreement or the transactions contemplated hereby may be instituted in any State or U.S.
federal court in The City of New York and County of New York, and waive any objection which they may now or hereafter have to the laying of venue of any such proceeding, and irrevocably submit to the non-exclusive jurisdiction of such courts in any
suit, action or proceeding. The Company and the Guarantor hereby appoint CT Corporation System, located at 111 Eighth Avenue, New York, New York 10011 as their authorized agent (the “Authorized Agent”) upon whom process may be served in
any suit, action or proceeding arising out of or based upon this Agreement or the transactions contemplated herein which may be instituted in any State or U.S. federal court in The City of New York and County of New York, by any Holder or Initial
Purchaser, the directors, officers, employees, Affiliates and agents of any Holder or Initial Purchaser, or by any person who controls any Holder or Initial Purchaser, and expressly accept the non-exclusive jurisdiction of any such court in respect
of any such suit, action or proceeding. The Company and the Guarantor hereby represent and warrant that the Authorized Agent has accepted such appointment and has agreed to act as said agent for service of process, and the Company and the Guarantor
agree to take any and all action, including the filing of any and all documents that may be necessary to continue such appointment in full force and effect as aforesaid so long as any of the Securities shall be outstanding. Service of process upon
the Authorized Agent shall be deemed, in every respect, effective service of process upon the Company or the Guarantor. To the extent that the Company or the Guarantor may acquire any immunity from jurisdiction of any court or from any legal process
(whether through service of notice, attachment prior to judgment, attachment in aid of execution, execution or otherwise) with respect to itself or its property, they hereby irrevocably waive such immunity in respect of this Agreement, to the
fullest extent permitted by law. Notwithstanding the foregoing, any action arising out of or based upon this Agreement may be instituted by any Holder or Initial Purchaser, the directors, officers, employees, Affiliates and agents of any Holder or
Initial Purchaser, or by any person who controls any Holder or Initial Purchaser, in any court of competent jurisdiction in Cayman Islands or Brazil. 
  
 15. Currency. Each reference in this Agreement to U.S. dollars (the “relevant currency”) is of the essence. To the fullest extent
permitted by law, the obligation of the Company and the Guarantor in respect of any amount due under this Agreement will, 

  

 22 

 
notwithstanding any payment in any other currency (whether pursuant to a judgment or otherwise), be discharged only to the extent of the amount in the
relevant currency that the party entitled to receive such payment may, in accordance with its normal procedures, purchase with the sum paid in such other currency (after any premium and costs of exchange) on the Business Day immediately following
the day on which such party receives such payment. If the amount in the relevant currency that may be so purchased for any reason falls short of the amount originally due, the Company and the Guarantor will pay such additional amounts, in the
relevant currency, as may be necessary to compensate for the shortfall. Any obligation of the Company and the Guarantor not discharged by such payment will, to the fullest extent permitted by applicable law, be due as a separate and independent
obligation and, until discharged as provided herein, will continue in full force and effect. 
  
 16. Waiver of Immunity. To the extent that the Company or the Guarantor has or hereafter may acquire any immunity (sovereign or otherwise) from any legal action, suit or proceeding, from jurisdiction of any
court or from set-off or any legal process (whether service or notice, attachment in aid or otherwise) with respect to itself or any of its property, the Company and the Guarantor hereby irrevocably waive and agree not to plead or claim such
immunity in respect of their obligations under this Agreement. 
  
 17. Counterparts. This Agreement may be signed in one or more counterparts, each of which shall constitute an original and all of which together shall constitute one and the same agreement. 
  
 18. Headings. The section headings used herein are for convenience
only and shall not affect the construction hereof. 
  
 19.
Applicable Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York applicable to contracts made and to be performed in the State of New York. The parties hereto each hereby waive any right
to trial by jury in any action, proceeding or counterclaim arising out of or relating to this Agreement. 
  
 20. Severability. In the event that any one of more of the provisions contained herein, or the application thereof in any circumstances, is held
invalid, illegal or unenforceable in any respect for any reason, the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions hereof shall not be in any way impaired or affected thereby, it
being intended that all of the rights and privileges of the parties shall be enforceable to the fullest extent permitted by law. 
  
 21. Securities Held by the Company or the Guarantor, etc. Whenever the consent or approval of Holders of a specified percentage of principal
amount of Securities or New Securities is required hereunder, Securities or New Securities, as applicable, held by the Company, the Guarantor or their Affiliates (other than subsequent Holders of Securities or New Securities if such subsequent
Holders are deemed to be Affiliates solely by reason of their holdings of such Securities or New Securities) shall not be counted in determining whether such consent or approval was given by the Holders of such required percentage. 
  

 23 

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

  

					
	 CSN ISLANDS IX CORP.,

		
	 By:
	 	/s/    OTÁVIO DE GARCIA
LAZCANO        
	 	 	 Name:
	 	Otávio de Garcia Lazcano
	 	 	 Title:
	 	Director
	
	COMPANHIA SIDERÚRGICA NACIONAL - Guarantor
		
	 By:
	 	/s/    OTÁVIO DE GARCIA
LAZCANO        
	 	 	 Name:
	 	Otávio de Garcia Lazcano
	 	 	 Title:
	 	Officer
		
	 By:
	 	/s/    SERGIO
TIMONER        
	 	 	 Name:
	 	Sergio Timoner
	 	 	 Title:
	 	Attorney-in-Fact

  

					
	 The foregoing Agreement is hereby
 confirmed
and accepted as of the
 date first above written.

	
	CREDIT SUISSE FIRST BOSTON LLC,
as Initial Purchaser
		
	 By:
	 	/s/    CHARLES ACHOA,
JR.        
	 	 	 Name:
	 	Charles Achoa, Jr.
	 	 	 Title:
	 	Director

  

 24 

 ANNEX A 
  
 Each broker-dealer that receives new securities for its own account pursuant to the Exchange Offer must acknowledge that it will deliver a prospectus in
connection with any resale of such new securities. The Letter of Transmittal states that by so acknowledging and by delivering a prospectus, a broker-dealer will not be deemed to admit that it is an “underwriter” within the meaning of the
Act. This prospectus, as it may be amended or supplemented from time to time, may be used by a broker-dealer in connection with resales of new securities received in exchange for securities where such securities were acquired by such broker-dealer
as a result of market-making activities or other trading activities. The company and the guarantor have agreed that, starting on the expiration date and ending on the close of business 180 days after the expiration date, they will make this
prospectus available to any broker-dealer for use in connection with any such resale. See “Plan of Distribution”. 
  

 A-1 

 ANNEX B 
  
 Each broker-dealer that receives new securities for its own account in exchange for securities, where such securities were acquired by such broker-dealer
as a result of market-making activities or other trading activities, must acknowledge that it will deliver a prospectus in connection with any resale of such new securities. See “Plan of Distribution”. 
  

 B-1 

 ANNEX C 
  
 PLAN OF DISTRIBUTION 
  
 Each broker-dealer that receives new securities for its own account pursuant to the Exchange Offer must acknowledge that it will deliver a prospectus in
connection with any resale of such new securities. This prospectus, as it may be amended or supplemented from time to time, may be used by a broker-dealer in connection with resales of new securities received in exchange for securities where such
securities were acquired as a result of market-making activities or other trading activities. The company and the guarantor have agreed that, starting on the expiration date and ending on the close of business 180 days after the expiration date,
they will make this prospectus, as amended or supplemented, available to any broker-dealer for use in connection with any such resale. In addition, until
                    ,             , all dealers effecting transactions in
the new securities may be required to deliver a prospectus. 
  
 The company will not receive any proceeds from any sale of new securities by brokers-dealers. New securities received by broker-dealers for their own account pursuant to the Exchange Offer may be sold from time to time in one or more
transactions in the over-the-counter market, in negotiated transactions, through the writing of options on the new securities or a combination of such methods of resale, at market prices prevailing at the time of resale, at prices related to such
prevailing market prices or negotiated prices. Any such resale may be made directly to purchasers or to or through brokers or dealers who may receive compensation in the form of commissions or concessions from any such broker-dealer and/or the
purchasers of any such new securities. Any broker-dealer that resells new securities that were received by it for its own account pursuant to the Exchange Offer and any broker or dealer that participates in a distribution of such new securities may
be deemed to be an “underwriter” within the meaning of the Act and any profit of any such resale of new securities and any commissions or concessions received by any such persons may be deemed to be underwriting compensation under the Act.
The Letter of Transmittal states that by acknowledging that it will deliver and by delivering a prospectus, a broker-dealer will not be deemed to admit that it is an “underwriter” within the meaning of the Act. 
  
 For a period of 180 days after the expiration date, the company will promptly
send additional copies of this prospectus and any amendment or supplement to this prospectus to any broker-dealer that requests such documents in the Letter of Transmittal. The company and the guarantor have agreed to pay all expenses incident to
the Exchange Offer (including the expenses of one counsel for the holder of the securities) other than commissions or concessions of any brokers or dealers and will indemnify the holders of the securities (including any broker-dealers) against
certain liabilities, including liabilities under the Act. 
  
  

 C-1 

 ANNEX D 
  
 Rider A 
  
 PLEASE FILL IN YOUR NAME AND ADDRESS BELOW IF YOU ARE A BROKER-DEALER AND WISH TO RECEIVE 10 ADDITIONAL COPIES OF THE PROSPECTUS AND 10 COPIES OF ANY AMENDMENTS OR
SUPPLEMENTS THERETO. 
  

			
	 Name:
	    	 
	 Address: 
	    	 
	 	    	 

  
 Rider B 
  
 If the undersigned is not a Broker-Dealer, the
undersigned represents that it acquired the New Securities in the ordinary course of its business, it is not engaged in, and does not intend to engage in, a distribution of New Securities and it has no arrangements or understandings with any person
to participate in a distribution of the New Securities. If the undersigned is a Broker-Dealer that will receive New Securities for its own account in exchange for Securities, it represents that the Securities to be exchanged for New Securities were
acquired by it as a result of market-making activities or other trading activities and acknowledges that it will deliver a prospectus in connection with any resale of such New Securities; however, by so acknowledging and by delivering a prospectus,
the undersigned will not be deemed to admit that it is an “underwriter” within the meaning of the Act. 
  

 D-1Supplemental Indenture No. 2

 Exhibit 4.1 
  

GENWORTH FINANCIAL, INC. 
  
 AND 
  
 JPMORGAN CHASE BANK, N.A., 
  
 as Trustee 
  

  
 SUPPLEMENTAL INDENTURE NO. 2 
  

Dated as of September 19, 2005 
  

 THIS SUPPLEMENTAL INDENTURE No. 2 (this “Supplemental Indenture No. 2”), dated as of
September 19, 2005, is between GENWORTH FINANCIAL, INC., a Delaware corporation (the “Company”), and JPMORGAN CHASE BANK, N.A. (formerly known as JPMorgan Chase Bank), a national banking association, as Trustee (the
“Trustee”). 
  
 RECITALS 
  
 WHEREAS, the Company has heretofore executed and delivered to the Trustee an
Indenture dated as of June 15, 2004, between the Company and the Trustee (the “Base Indenture” and together with this Supplemental Indenture No. 2, the “Indenture”), providing for the issuance from
time to time of series of the Company’s Securities; 
  
 WHEREAS, Section 10.01(d) of the Base Indenture provides for the Company and the Trustee to enter into an indenture supplemental to the Base Indenture to establish the forms or terms of Securities of any series as permitted by Section 2.01
or Section 2.02 of the Base Indenture; 
  
 WHEREAS, pursuant to
Section 2.02 of the Base Indenture, the Company wishes to provide for the issuance of a new series of Securities to be known as its 4.950% Senior Notes due 2015 (the “Notes”), the form and terms of such Notes and the terms,
provisions and conditions thereof to be set forth as provided in this Supplemental Indenture No. 2; and 
  
 WHEREAS, the Company has requested that the Trustee execute and deliver this Supplemental Indenture No. 2 and all requirements necessary to make this
Supplemental Indenture No. 2 a valid, binding and enforceable instrument in accordance with its terms, and to make the Notes, when executed by the Company and authenticated and delivered by the Trustee, the valid, binding and enforceable obligations
of the Company, have been done and performed, and the execution and delivery of this Supplemental Indenture No. 2 has been duly authorized in all respects; 
  
 NOW, THEREFORE, in consideration of the covenants and agreements set forth herein and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
  
 ARTICLE 1 
 DEFINITIONS 
  
 Section 1.01. Relation to Base Indenture. This Supplemental Indenture No. 2 constitutes an integral part of
the Base Indenture. 
  

 1 

 Section 1.02. Definition Of Terms. For all purposes of this Supplemental Indenture No. 2:

  
 (a) Capitalized terms used herein without definition
shall have the meanings set forth in the Base Indenture; 
  
 (b) a term defined anywhere in this Supplemental Indenture No. 2 has the same meaning throughout; 
  
 (c) the singular includes the plural and vice versa; 
  
 (d) headings are for convenience of reference only and do not affect interpretation; 
  
 (e) the following terms have the meanings given to them in this Section 1.02(e): 
  
 “Business Day” shall mean, unless otherwise specified, any
calendar day that is not a Saturday, Sunday or legal holiday in New York, New York and on which commercial banks are open for business in New York, New York. 
  
 “Comparable Treasury Issue” shall mean the United States Treasury security selected by an Independent Investment Banker as having a
maturity comparable to the remaining term (“Remaining Life”) of the Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt
securities of comparable maturity to the remaining term of such Notes. 
  
 “Comparable Treasury Price” shall mean, with respect to any Redemption Date, (A) the average of the Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest such Reference
Treasury Dealer Quotations, or (B) if the Independent Investment Banker obtains fewer than three such Reference Treasury Dealer Quotations, the average of all such Quotations or, if only one such Quotation is obtained, such Quotation. 
  
 “Global Note” shall have the meaning set forth in Section
2.04. 
  
 “Independent Investment Banker” shall
mean an independent investment banking institution of national standing appointed by the Company, which may be one of the Reference Treasury Dealers. 
  
 “Interest Payment Date” shall have the meaning set forth in Section 2.05(b). 
  
 “Maturity Date” shall have the meaning set forth in Section
2.02. 
  

 2 

 “Record Date” shall mean, with respect to any Interest Payment Date for the Notes, the
fifteenth day, whether or not a Business Day, of the calendar month preceding the calendar month in which such Interest Payment Date falls. 
  
 “Redemption Date” shall mean, with respect to any redemption of Notes, the date fixed for such redemption pursuant to the Indenture and
such Notes. 
  
 “Reference Treasury Dealer” shall
mean (i) each of Lehman Brothers Inc. and Goldman, Sachs & Co. and their respective successors, provided, however, that if any of the foregoing shall cease to be a primary U.S. government securities dealer in New York City (a
“Primary Treasury Dealer”), the Company will substitute therefor another Primary Treasury Dealer and (ii) any other Primary Treasury Dealer selected by the Company. 
  
 “Reference Treasury Dealer Quotations” shall mean, with respect to each Reference Treasury Dealer and any
Redemption Date, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Independent
Investment Banker by the Reference Treasury Dealer at 5:00 p.m. on the third Business Day preceding such Redemption Date. 
  
 “Treasury Rate” shall mean, with respect to any Redemption Date, (i) the yield, under the heading which represents the average for the
immediately preceding week, appearing in the most recently published statistical release designated “H.15 (519)” or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System and which
establishes yields on actively traded United States Treasury securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the maturity corresponding to the Comparable Treasury Issue (if no maturity is
within three months before or after the Remaining Life, yields for the two published maturities most closely corresponding to the Comparable Treasury Issue shall be determined and the Treasury Rate shall be interpolated or extrapolated from such
yields on a straight line basis, rounding to the nearest month), (ii) if the period from the Redemption Date to the Maturity Date of the Notes to be redeemed is less than one year, the weekly average yield on actually traded United States Treasury
securities adjusted to a constant maturity of one year will be used, or (iii) if such release (or any successor release) is not published during the week preceding the calculation date or does not contain such yields, the rate per annum equal to the
semiannual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date.
The Treasury Rate shall be calculated by the Company on the third Business Day preceding such Redemption Date. The Trustee shall not be responsible for any such calculation. 
  

 3 

 The terms “Company,” “Trustee,” “Indenture,”
“Base Indenture,” and “Notes” shall have the respective meanings set forth in the recitals to this Supplemental Indenture No. 2 and the paragraph preceding such recitals. 
  
 ARTICLE 2 
 GENERAL TERMS AND CONDITIONS OF THE NOTES 
  
 Section 2.01. Designation and Principal Amount. The Notes may
be issued from time to time upon written order of the Company for the authentication and delivery of Notes pursuant to Section 2.03 of the Base Indenture. There is hereby authorized a series of Securities designated as the 4.950% Senior Notes due
2015, limited in aggregate principal amount to U.S. $350,000,000 (except for Notes authenticated and delivered in accordance with the last paragraph of Section 2.02 of the Base Indenture or upon registration of transfer of, or in exchange for, or in
lieu of, other Notes pursuant to Sections 2.06, 2.07, 2.08, 3.03 or 10.04 of the Base Indenture). 
  
 Section 2.02. Maturity. The date upon which the Notes shall become due and payable at final maturity, together with any accrued and unpaid
interest, is October 1, 2015 (the “Maturity Date”). 
  
 Section 2.03. Form, Payment and Appointment. Except as provided in Section 2.04, the Notes shall be issued in fully registered, certificated form. Principal of and interest on the Notes will be payable, the transfer of such
Notes will be registrable, and such Notes will be exchangeable for Notes of a like aggregate principal amount, at the office or agency of the Company maintained for such purpose in the Borough of Manhattan, The City of New York, which shall
initially be the Principal Office of the Trustee; provided, however, that payment of interest may be made at the option of the Company by check mailed to the Person entitled thereto at such address as shall appear in the Security register or
by wire transfer to an account appropriately designated by the Person entitled to payment; provided, that the paying agent shall have received written notice of such account designation at least five Business Days prior to the date of such
payment (subject to surrender of the relevant Note in the case of a payment of interest on a Redemption Date or the Maturity Date). 
  
 No service charge shall be made for any registration of transfer or exchange of the Notes, but the Company may require payment from the holder of a sum
sufficient to cover any tax or other governmental charge that may be imposed in connection therewith. 
  

 4 

 The Security registrar and paying agent for the Notes shall initially be the Trustee. 
  
 The Notes shall be issuable in denominations of U.S. $1,000 and integral
multiples of U.S. $1,000 in excess thereof. 
  
 The Specified
Currency of the Notes shall be U.S. Dollars. 
  
 Section
2.04. Global Notes. The Notes shall be issued initially in the form of a permanent Global Security in registered form (a “Global Note”), deposited with The Depository Trust Company or such other Depositary as any officer
of the Company may from time to time designate. Unless and until such Global Note is exchanged for Notes in certificated form, such Global Note may be transferred, in whole but not in part, and any payments on the Notes shall be made, only to the
Depositary or a nominee of the Depositary, or to a successor Depositary selected or approved by the Company or to a nominee of such successor Depositary. 
  
 Section 2.05. Interest. (a) Interest payable on any Interest Payment Date, the Maturity Date or, if applicable, the Redemption Date,
with respect to the Notes shall be the amount of interest accrued from, and including, the immediately preceding Interest Payment Date in respect of which interest has been paid or duly provided for (or from and including the original issue date of
September 19, 2005, if no interest has been paid or duly provided for with respect to the Notes) to, but excluding, such Interest Payment Date, Maturity Date or, if applicable, Redemption Date, as the case may be (each, an “Interest
Period”). 
  
 (b) The Notes will bear interest at
the rate of 4.950% per year from the original issue date thereof through and including the Maturity Date. Interest on the Notes shall be payable semi-annually in arrears on April 1 and October 1 of each year (each, an “Interest Payment
Date”), commencing April 1, 2006, to the Persons in whose names the relevant Notes are registered at the close of business on the Record Date for such Interest Payment Date, except as provided in Section 2.05(d). 
  
 (c) The amount of interest payable for any full semi-annual Interest
Period will be computed on the basis of a 360-day year consisting of twelve 30-day months. The amount of interest payable for any period shorter than a full semi-annual Interest Period for which interest is computed will be computed on the basis of
a 30-day month and, for any period less than a month, on the basis of the actual number of days elapsed per 30-day month. In the event that any scheduled Interest Payment Date for the Notes falls on a day that is not a Business Day, then payment of
interest payable on such Interest Payment Date will be postponed to the next succeeding day which is a Business Day (and no interest on such payment will accrue for the period from and after such scheduled Interest Payment Date). 
  

 5 

 (d) In the event that the Maturity Date or a Redemption Date for any Note falls on a day that is
not a Business Day, then the related payments of principal, premium, if any, and interest may be made on the next succeeding day that is a Business Day (and no additional interest will accumulate on the amount payable for the period from and after
the Maturity Date). Interest due on the Maturity Date or a Redemption Date (in each case, whether or not an Interest Payment Date) of any Notes will be paid to the Person to whom principal of such Notes is payable. 
  
 Section 2.06. No Sinking Fund. The Notes are not entitled to
the benefit of any sinking fund. 
  
 ARTICLE 3 
 REDEMPTION OF THE NOTES 
  
 Section 3.01. Optional Redemption by Company. Except as otherwise may be specified in this Supplemental
Indenture No. 2, the Company shall have the right to redeem the Notes, in whole or in part, at any time or from time to time, at a redemption price (the “Optional Redemption Price”) equal to the greater of: 
  
 (i) 100% of the principal amount plus accrued and
unpaid interest to, but excluding, the Redemption Date; and 
  
 (ii) the sum of the present values of the remaining scheduled payments of principal and interest (exclusive of interest accrued to the Redemption Date) discounted to the Redemption Date on a semi-annual basis
(assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 15.0 basis points, plus accrued and unpaid interest on the principal amount being redeemed to, but excluding, the Redemption Date. 
  
 The Company will mail notice of such redemption to the registered holders of
the Notes to be redeemed not less than 30 nor more than 60 days prior to the Redemption Date. If Notes are only partially redeemed pursuant to this Section 3.01, the Notes to be redeemed will be selected by the Trustee in such manner as in its sole
discretion it shall deem appropriate and fair; provided, that if at the time of redemption the Notes to be redeemed are registered as a Global Note, the Depositary shall determine, in accordance with its procedures, the principal amount of
the Notes to be redeemed held by each of its participants that holds a position in such Notes. The Optional Redemption Price shall be paid prior to 12:00 noon, New York time, on the Redemption Date or at such later time as is 
  

 6 

 then permitted by the rules of the Depositary for the Notes (if then registered as a Global Note); provided, that
the Company shall deposit with the Trustee an amount sufficient to pay the Optional Redemption Price by 10:00 a.m., New York time, on the date such Optional Redemption Price is to be paid. 
  
 Section 3.02. No Other Redemption. Except as set forth in
Section 3.01, the Notes shall not be redeemable by the Company prior to the Maturity Date. The provisions of this Article 3 shall supersede any conflicting provisions contained in Article 3 of the Base Indenture. 
  
 ARTICLE 4 
 FORM OF NOTES 
  
 Section 4.01. Form of Notes. 
  
 The Notes and the Trustee’s Certificate of Authentication to be endorsed thereon are to be substantially in the forms attached as Exhibit A hereto,
with such changes therein as the officers of the Company executing the Notes (by manual or facsimile signature) may approve, such approval to be conclusively evidenced by their execution thereof. 
  
 ARTICLE 5 
 ORIGINAL ISSUE OF NOTES 
  
 Section 5.01. Original Issue of Notes. Notes having an aggregate principal amount of U.S. $350,000,000 (subject to the last paragraph of
Section 2.02 of the Base Indenture) may from time to time, upon execution of this Supplemental Indenture No. 2, be executed by the Company and delivered to the Trustee for authentication, and the Trustee shall thereupon authenticate and deliver said
Notes to or upon the written order of the Company pursuant to Section 2.03 of the Base Indenture without any further action by the Company (other than as required by the Base Indenture). 
  
 ARTICLE 6 
 SUPPLEMENTAL INDENTURES 
  
 Section 6.01. Supplemental Indentures with Consent of holders of Notes. As set forth in Section 10.02 of the Base Indenture, with the consent of the holders of a majority in the aggregate principal amount of Securities of each
series affected by such supplemental indenture at the time outstanding, the Company and the Trustee may from time to time and at any time enter into an indenture or indentures supplemental to the Base Indenture for the purpose of adding any
provisions to or changing in any manner or eliminating any of the provisions of the Base Indenture or this Supplemental Indenture No. 2 or of modifying in any manner the rights of the holders of the Securities. 
  

 7 

 ARTICLE 7 
 MISCELLANEOUS 
  
 Section 7.01. Ratification of Indenture. The Base Indenture, as supplemented by this Supplemental Indenture No. 2, is in all respects ratified and confirmed, and this Supplemental Indenture No. 2 shall be deemed part of the
Base Indenture in the manner and to the extent herein and therein provided. 
  
 Section 7.02. Trustee Not Responsible for Recitals. The recitals herein contained are made by the Company and not by the Trustee, and the Trustee assumes no responsibility for the correctness thereof.
The Trustee makes no representation as to the validity or sufficiency of this Supplemental Indenture No. 2. 
  
 Section 7.03. New York Law To Govern. THIS SUPPLEMENTAL INDENTURE NO. 2 AND EACH 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 THE LAWS OF SAID STATE. 
  
 Section 7.04. Separability. In case any one or more of the provisions contained in this Supplemental Indenture No. 2 or in the Notes shall
for any reason be held to be invalid, illegal or unenforceable in any respect, then, to the extent permitted by law, such invalidity, illegality or unenforceability shall not affect any other provisions of this Supplemental Indenture No. 2 or of the
Notes, but this Supplemental Indenture No. 2 and the Notes shall be construed as if such invalid or illegal or unenforceable provision had never been contained herein or therein. 
  
 Section 7.05. Counterparts. This Supplemental Indenture No. 2 may be executed in any number of counterparts
each of which shall be an original, but such counterparts shall together constitute but one and the same instrument. 
  

 8 

 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture No. 2 to be duly executed,
as of the day and year first written above. 
  

					
	GENWORTH FINANCIAL, INC.
		
	By:	 	 /s/    Richard P. McKenney

	Name:	 	Richard P. McKenney
	Title:	 	Senior Vice President –
	 	 	Chief Financial Officer
	
	JPMORGAN CHASE BANK, N.A.,
	as Trustee
		
	By:	 	 /s/    Paul J. Schmalzel

	Name:	 	Paul J. Schmalzel
	Title:	 	Vice President

 EXHIBIT A 
  
 [IF THIS NOTE IS TO BE A GLOBAL SECURITY, INSERT:] 
  
 THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITORY TRUST COMPANY OR A NOMINEE OF
THE DEPOSITORY TRUST COMPANY. THIS NOTE IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITORY TRUST COMPANY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE AND MAY NOT BE TRANSFERRED
EXCEPT AS A WHOLE BY THE DEPOSITORY TRUST COMPANY TO A NOMINEE OF THE DEPOSITORY TRUST COMPANY OR BY A NOMINEE OF THE DEPOSITORY TRUST COMPANY TO THE DEPOSITORY TRUST COMPANY OR ANOTHER NOMINEE OF THE DEPOSITORY TRUST COMPANY. 
  
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY, A NEW YORK CORPORATION (“DTC”), 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 IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
  
 GENWORTH FINANCIAL, INC. 
  
 4.950% Note due 2015 
  
 CUSIP: 37247D AF 3

  

			
	No.                     	 	$                     

  
 GENWORTH FINANCIAL,
INC., a corporation organized and existing under the laws of Delaware (hereinafter called the “Company”, which term includes any successor corporation under the Indenture hereinafter referred to), 
  

 A-1 

 for value received, hereby promises to pay to
                    , or registered assigns, [the principal sum of $
                    ]1 on October 1, 2015 (such date is hereinafter referred to as the “Maturity Date”), and to pay interest thereon from September 19, 2005 or from the most recent Interest Payment Date to which interest has been paid or
duly provided for, semi-annually in arrears on April 1 and October 1 of each year (each, an “Interest Payment Date”), commencing April 1, 2006 at the rate of 4.950% per annum, on the basis of a 360-day year consisting of twelve
30-day months, until the principal hereof is paid or duly provided for or made available for payment. The amount of interest payable for any period shorter than a full semi-annual Interest Period for which interest is computed will be computed on
the basis of a 30-day month and, for any period less than a month, on the basis of the actual number of days elapsed per 30-day month. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided
in such Indenture, be paid to the person in whose name the relevant Notes, or any predecessor Notes, are registered at the close of business on the Record Date for such Interest Payment Date; provided that the interest due on the Maturity
Date or a Redemption Date (in each case, whether or not an Interest Payment Date) of a Note of this series will be paid to the Person to whom principal of such Note is payable. 
  
 Payment of the principal of and interest on this Note will be made at the office or agency of the Company maintained for
that purpose in The City of New York, which shall initially be the Principal Office of the Trust Office of the Trustee, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and
private debts; provided, however, that payment of interest may be made at the option of the Company by check mailed to the Person entitled thereto at such address as shall appear in the Security register or by wire transfer to an account
appropriately designated by the Person entitled to payment provided, that the paying agent shall have received written notice of such account designation at least five Business Days prior to the date of such payment (subject to surrender of
the relevant Note in the case of a payment of interest on a Redemption Date or on the Maturity Date). 
  
 Reference is hereby made to the further provisions of this Note set forth on the reverse hereof, which further provisions shall for all purposes have the
same effect as if set forth at this place. 
  

	1	USE THE FOLLOWING LANGUAGE INSTEAD FOR GLOBAL NOTES: [the principal sum as set forth in the Schedule of Increases or Decreases In Note attached hereto]

  

 A-2 

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

 A-3 

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

			
	GENWORTH FINANCIAL, INC.
		
	By:	 	  

	Name:	 	 
	Title:	 	 
		
	By:	 	  

	Name:	 	 
	Title:	 	 

  
 TRUSTEE’S
CERTIFICATE OF AUTHENTICATION 
  
 This is one of the Securities of the series
designated therein described in the within-mentioned Indenture. 
  
 Dated:
                     
  
 JPMORGAN CHASE BANK, N.A., 
 as Trustee 
  

			
	By:	 	  

	 	 	Authorized Officer

  

 A-4 

 REVERSE OF NOTE 
  

This Note is one of a duly authorized issue of securities of the Company (herein called the “Notes”), issued and to be issued in one
or more series under an Indenture (the “Base Indenture”), dated as of June 15, 2004, between the Company and JPMorgan Chase Bank, N.A. (formerly known as JPMorgan Chase Bank), as Trustee (herein called the
“Trustee”, which term includes any successor trustee), as amended and supplemented by Supplemental Indenture No. 2, dated as of September 19, 2005, between the Company and the Trustee (the “Supplemental Indenture No.
2” and together with the Base Indenture, the “Indenture”), to which Indenture reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the
Trustee and the holders of the Notes and of the terms upon which the Notes are, and are to be, authenticated and delivered. This Note is one of the series designated on the face hereof, initially limited in aggregate principal amount to
$350,000,000. 
  
 All terms used in this Note that are defined in
the Indenture shall have the meaning assigned to them in the Indenture. 
  
 The Company shall have the right to redeem this Note at the option of the Company, without premium or penalty, in whole or in part (an “Optional Redemption”), at a redemption price (the “Optional Redemption
Price”) equal to the greater of: 
  
 (i) 100% of the
principal amount plus accrued and unpaid interest to the Redemption Date; and 
  
 (ii) the sum of the present values of the remaining scheduled payments of principal and interest (exclusive of interest accrued to the Redemption Date) discounted to the Redemption Date on a semi-annual basis
(assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 15.0 basis points plus accrued interest on the principal amount being redeemed to the Redemption Date. 
  
 The Company will mail notice of such redemption to the registered holders of
the Notes of this series to be redeemed not less than 30 nor more than 60 days prior to the Redemption Date. If Notes of this series are only partially redeemed pursuant to the preceding paragraph, the Notes of this series to be redeemed will be
selected by the Trustee in such manner as in its sole discretion it shall deem appropriate and fair; provided, that if at the time of redemption the Notes of this series to be redeemed are registered as a Global Note, the Depositary shall
determine, in accordance with its procedures, the principal amount of the Notes of this series to be redeemed held by each of its participants that holds a 
  

 A-R-1 

 position in such Notes. The Optional Redemption Price shall be paid prior to 12:00 noon, New York time, on the Redemption
Date or at such later time as is then permitted by the rules of the Depositary for the related Notes (if then registered as a Global Note) provided that the Company shall deposit with the Trustee an amount sufficient to pay the Optional Redemption
Price by 10:00 a.m., New York time, on the date such Optional Redemption Price is to be paid. 
  
 In the event of redemption of this Note in part only, a new Note or Notes of this series for the unredeemed portion hereof shall be issued in the name of the Holder hereof upon the cancellation hereof. Except as set
forth in the preceding paragraphs and in Article 3 of the Supplemental Indenture No. 2, the Company may not redeem the Notes of this series at its option prior to the Maturity Date. 
  
 The Notes of this series are not entitled to the benefit of any sinking fund. 
  
 The Indenture contains provisions for defeasance of the obligations of the
Company at any time upon compliance by the Company with certain conditions set forth therein, which provisions apply to the Notes of this series. 
  
 If an Event of Default with respect to Notes of this series shall occur and be continuing, the principal of the Notes of this series may be declared due
and payable in the manner and with the effect provided in the Indenture. 
  
 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the holders of the Notes at any time by the
Company and the Trustee with the consent of the holders of a majority in principal amount of the Notes of each series (each series voting as a class) affected thereby and at the time Outstanding. The Indenture also contains provisions permitting the
holders of specified percentages in principal amount of the Notes of a series at the time Outstanding, on behalf of the holders of all Notes of such series, to waive certain past defaults under the Indenture and their consequences. Any such consent
or waiver by the holder of this Note shall be conclusive and binding upon such holder and upon all future holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not
notation of such consent or waiver is made upon this Note. 
  
 As
provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Note is registrable in the Security register, upon surrender of this Note for registration of transfer at the office or agency of the Company in any
place where the principal of and interest on this Note are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security registrar duly executed by the holder hereof or his
attorney duly authorized in writing, and thereupon one or 
  

 A-R-2 

 more new Notes of this series, of authorized denominations and for the same aggregate principal amount, will be issued to
the designated transferee or transferees. 
  
 The Notes of this
series are issuable only in registered form without coupons in denominations of $1,000 and any integral multiple thereof, except as provided for in Section 2.04 of Supplemental Indenture No. 2. As provided in the Indenture and subject to certain
limitations therein set forth, Notes of this series are exchangeable for a like aggregate principal amount of Notes of this series of a different authorized denomination, as requested by the holder surrendering the same. 
  
 No service charge shall be made for any such registration of transfer or
exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 
  
 The Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes,
whether or not this Note is overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 
  
 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 THE
LAWS OF SAID STATE. 
  

 A-R-3 

 ASSIGNMENT 
  
 FOR VALUE RECEIVED, the undersigned assigns and transfers this Note to: 
  

  

  
 (Insert assignee’s social security or tax identification number) 
  

  

  

  
 (Insert address and zip code of assignee) 
  
 and irrevocably appoints 
  

  

  

  
 agent to transfer this Note on the books of the Company. The agent may
substitute another to act for him or her. 
  
 Date:
                     
  

	
	 Signature:

	  

			
		
	 Signature Guarantee:
	 	  

  
 (Sign exactly as your name
appears on the other side of this Note) 

 SIGNATURE GUARANTEE 
  
 Signatures 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. 

 SCHEDULE OF INCREASES OR DECREASES IN NOTE 
  
 The initial principal amount of this Note is $350,000,000. The following increases or
decreases in the principal amount of this Note have been made: 
  

									
	 Date

	 	 Amount of
 decrease in
 principal
 amount of this
 Note

	 	 Amount of
 increase in
 principal
 amount of this
 Note

	  	 Principal
 amount of this
 Note following
 such decrease or
 increase

	  	 Signature of
 authorized
 officer of
 Trustee

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