Document:

EXHIBIT
4.6

ALLOS THERAPEUTICS, INC.

and

 

As
Depositary

and

HOLDERS OF DEPOSITARY
RECEIPTS

DEPOSIT AGREEMENT

Dated as of

 

Table Of
Contents

	
  

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE I

  	
   

  	
  DEFINITIONS

  	
   

  	
   

  
	
  ARTICLE II

  	
   

  	
  FORM OF RECEIPTS,
  DEPOSIT OF STOCK, EXECUTION AND DELIVERY, TRANSFER,
  SURRENDER AND REDEMPTION AND REPURCHASE OF RECEIPTS

  	
   

  	
   

  
	
  Section 2.1.

  	
   

  	
  Form and Transfer
  of Receipts

  	
   

  	
   

  
	
  Section 2.2.

  	
   

  	
  Deposit of Stock;
  Execution and Delivery of Receipts in Respect Thereof

  	
   

  	
   

  
	
  Section 2.3.

  	
   

  	
  Redemption and Repurchase
  of Stock

  	
   

  	
   

  
	
  Section 2.4.

  	
   

  	
  Register of Transfer of
  Receipts

  	
   

  	
   

  
	
  Section 2.5.

  	
   

  	
  Combination and
  Split-ups of Receipts

  	
   

  	
   

  
	
  Section 2.6.

  	
   

  	
  Surrender of Receipts
  and Withdrawal of Stock

  	
   

  	
   

  
	
  Section 2.7.

  	
   

  	
  Limitations on
  Execution and Delivery, Transfer, Split-up, Combination and Surrender of
  Receipts and Withdrawal or Deposit of Stock

  	
   

  	
   

  
	
  Section 2.8.

  	
   

  	
  Lost Receipts, etc

  	
   

  	
   

  
	
  Section 2.9.

  	
   

  	
  Cancellation and
  Destruction of Surrendered Receipts

  	
   

  	
   

  
	
  Section 2.10.

  	
   

  	
  Conversion

  	
   

  	
   

  
	
  ARTICLE III

  	
   

  	
  CERTAIN OBLIGATIONS OF
  HOLDERS OF RECEIPTS AND THE COMPANY

  	
   

  	
   

  
	
  Section 3.1.

  	
   

  	
  Filing Proofs,
  Certificates and Other Information

  	
   

  	
   

  
	
  Section 3.2.

  	
   

  	
  Payment of Taxes or
  Other Governmental Charges

  	
   

  	
   

  
	
  Section 3.3.

  	
   

  	
  Withholding

  	
   

  	
   

  
	
  Section 3.4.

  	
   

  	
  Representations and
  Warranties as to Stock

  	
   

  	
   

  
	
  ARTICLE IV

  	
   

  	
  THE STOCK, NOTICES

  	
   

  	
   

  
	
  Section 4.1.

  	
   

  	
  Cash Distributions

  	
   

  	
   

  
	
  Section 4.2.

  	
   

  	
  Distributions Other
  Than Cash

  	
   

  	
   

  
	
  Section 4.3.

  	
   

  	
  Subscription Rights,
  Preferences or Privileges

  	
   

  	
   

  
	
  Section 4.4.

  	
   

  	
  Notice of Dividends,
  Fixing of Record Date for Holders of Receipts

  	
   

  	
   

  
	
  Section 4.5.

  	
   

  	
  Voting Rights

  	
   

  	
   

  
	
  Section 4.6.

  	
   

  	
  Changes Affecting Stock
  and Reclassifications, Recapitalizations, etc

  	
   

  	
   

  
	
  Section 4.7.

  	
   

  	
  Reports

  	
   

  	
   

  

 

 i
 

 

 

	
  Section 4.8.

  	
   

  	
  Lists of Receipt
  Holders

  	
   

  	
   

  
	
  ARTICLE V

  	
   

  	
  THE DEPOSITARY, THE
  DEPOSITARY’S AGENTS, THE REGISTRAR AND THE COMPANY    

  	
   

  	
   

  
	
  Section 5.1.

  	
   

  	
  Maintenance of Offices,
  Agencies, Transfer Books by the Depositary; the Registrar

  	
   

  	
   

  
	
  Section 5.2.

  	
   

  	
  Prevention or Delay in
  Performance by the Depositary, the Depositary’s Agents, the Registrar or the
  Company

  	
   

  	
   

  
	
  Section 5.3.

  	
   

  	
  Obligations of the
  Depositary, the Depositary’s Agents, the Registrar and the Company 
 	
   

  	
   

  
	
  Section 5.4.

  	
   

  	
  Resignation and Removal
  of the Depositary, Appointment of Successor Depositary

  	
   

  	
   

  
	
  Section 5.5.

  	
   

  	
  Corporate Notices and
  Reports

  	
   

  	
   

  
	
  Section 5.6.

  	
   

  	
  Deposit of Stock by the
  Company

  	
   

  	
   

  
	
  Section 5.7.

  	
   

  	
  Indemnification by the
  Company

  	
   

  	
   

  
	
  Section 5.8.

  	
   

  	
  Fees, Charges and
  Expenses

  	
   

  	
   

  
	
  ARTICLE VI

  	
   

  	
  AMENDMENT AND
  TERMINATION

  	
   

  	
   

  
	
  Section 6.1.

  	
   

  	
  Amendment

  	
   

  	
   

  
	
  Section 6.2.

  	
   

  	
  Termination

  	
   

  	
   

  
	
  ARTICLE VII

  	
   

  	
  MISCELLANEOUS

  	
   

  	
   

  
	
  Section 7.1.

  	
   

  	
  Counterparts

  	
   

  	
   

  
	
  Section 7.2.

  	
   

  	
  Exclusive Benefits of
  Parties

  	
   

  	
   

  
	
  Section 7.3.

  	
   

  	
  Invalidity of
  Provisions

  	
   

  	
   

  
	
  Section 7.4.

  	
   

  	
  Notices

  	
   

  	
   

  
	
  Section 7.5.

  	
   

  	
  Depositary’s Agents

  	
   

  	
   

  
	
  Section 7.6.

  	
   

  	
  Holders of Receipts Are
  Parties

  	
   

  	
   

  
	
  Section 7.7.

  	
   

  	
  Governing Law

  	
   

  	
   

  
	
  Section 7.8.

  	
   

  	
  Headings

  	
   

  	
   

  

 

 ii

 

DEPOSIT AGREEMENT

DEPOSIT AGREEMENT,
dated as of                      
among ALLOS
THERAPEUTICS, INC., a Delaware corporation,                      ,
a                      
existing under the laws of the State of                      ,
as Depositary, and all holders from time to time of Receipts issued hereunder.

W I T N E S S E T H:

WHEREAS, the
Company desires to provide as hereinafter set forth in this Deposit Agreement,
for the deposit of shares of the Stock with the Depositary, as agent for the
holders of the Receipts evidencing Depositary Shares representing an interest
in the Stock so deposited, for the purposes set forth in this Deposit Agreement
and for the issuance hereunder of such Receipts; and

WHEREAS, the
Receipts are to be substantially in the form annexed as Exhibit A to this
Deposit Agreement, with appropriate insertions, modifications and omissions to
reflect the terms of any Certificate of Designation and otherwise, as
hereinafter provided in this Deposit Agreement.

NOW, THEREFORE,
in consideration of the premises contained herein, it is agreed by and among
the parties hereto as follows:

ARTICLE I

DEFINITIONS

The following definitions shall apply to the
respective terms (in the singular and plural forms of such terms) used in this
Deposit Agreement and the Receipts:

“Certificate of Designation”
shall mean the Certificate of Designation establishing and setting forth the
rights, preferences, privileges, limitations and restrictions of the Stock, as
filed with the Secretary of State of the State of Delaware.

“Certificate of Incorporation”
shall mean the Amended and Restated Certificate of Incorporation, as amended or
as amended and restated from time to time, of the Company.

“Company” shall mean Allos
Therapeutics, Inc., a Delaware corporation, and its successors.

“Corporate Office” shall mean
the office of the Depositary in             ,
at which at any particular time its business in respect of matters governed by
this Deposit Agreement shall be administered, which at the date of this Deposit
Agreement is located at             .

 1
 

 

“Deposit Agreement” shall mean
this agreement, as the same may be amended, modified or supplemented from time
to time to reflect the terms of any Certificate of Designation or otherwise in
accordance with the provisions hereof.

“Depositary” shall mean             ,
as Depositary hereunder, and any successor as Depositary hereunder.

“Depositary Share” shall mean
the rights evidenced by the Receipts executed and delivered hereunder,
including the interests in Stock granted to holders of Receipts pursuant to the
terms and conditions of the Deposit Agreement. Each Depositary Share shall
represent an interest in       of one share of Stock
deposited with the Depositary hereunder and the same proportionate interest in
any and all other property received by the Depositary in respect of such share
of Stock and held under this Deposit Agreement. Subject to the terms of this
Deposit Agreement, each record holder of a Receipt evidencing a Depositary
Share or Shares is entitled, proportionately, to all the rights, preferences
and privileges, and subject to all the qualifications and restrictions, of the
Stock represented by such Depositary Share or Shares, including any dividend,
voting, conversion, redemption, liquidation and sinking fund rights contained
in the Certificate of Designation, and to the benefits of all obligations and
duties of the Company in respect of the Stock under the Certificate of
Designation and the Certificate of Incorporation.

“Depositary’s Agent” shall mean
an agent appointed by the Depositary as provided, and for the purposes
specified, in Section 7.5.

“Receipt” shall mean a
Depositary Receipt executed and delivered hereunder, in substantially the form
of Exhibit A hereto, evidencing a Depositary Share or Shares, as the same
may be amended from time to time to reflect the terms of any Certificate of
Designation or otherwise in accordance with the provisions hereof.

“Record holder” or “holder” as applied to a Receipt shall mean the person in
whose name a Receipt is registered on the books maintained by or on behalf of
the Depositary for such purpose.

“Registrar” shall mean any
company appointed to register ownership and transfers of Receipts as herein
provided.

“Securities Act” shall mean the
Securities Act of 1933, as amended.

“Stock” shall mean shares of the
Company’s             
Preferred Stock, Series             ,
par value $0.001 per share.

ARTICLE II

FORM OF RECEIPTS, DEPOSIT
OF STOCK, EXECUTION AND DELIVERY,

TRANSFER, SURRENDER AND REDEMPTION AND REPURCHASE OF RECEIPTS

Section 2.1.
Form and Transfer of Receipts. Receipts shall be engraved or printed or lithographed unless they are
evidenced by a global receipt held by a depositary for a clearing system and
shall be substantially in the form set forth in Exhibit A annexed to this
Deposit 

 2
 

 

Agreement, with appropriate insertions, modifications
and omissions to reflect the terms of any Certificate of Designation or otherwise,
as hereinafter provided. Receipts shall be executed by the Depositary by the
manual signature of a duly authorized officer of the Depositary; provided,
however, that such signature may be a facsimile if a Registrar (other than the
Depositary) shall have countersigned the Receipts by manual signature of a duly
authorized officer of the Registrar. Pending the preparation of definitive
Receipts, the Depositary, upon the written order of the Company delivered in
accordance with Section 2.2, shall execute and deliver temporary Receipts
which shall be printed, lithographed, typewritten, or otherwise reproduced
substantially of the tenor of the definitive Receipts in lieu of which they are
issued and with appropriate insertions, modifications, omissions, substitutions
and other variations as the persons executing such Receipts may determine are
necessary for such temporary Receipts, as evidenced by their execution of such
temporary Receipts. If temporary Receipts are issued, the Company and the
Depositary will cause definitive Receipts to be prepared without unreasonable
delay; provided that if such temporary Receipts are global Receipts held by a
depositary for a clearing system, definitive Receipts need not be prepared
until the Receipts cease to be so held. After the preparation of definitive
Receipts, the temporary Receipts shall be exchangeable for definitive Receipts
upon surrender of the temporary Receipts at the Corporate Office or such other
office as the Depositary may designate, without charge to the holder. Upon
surrender for cancellation of any one or more temporary Receipts, the
Depositary shall execute and deliver in exchange therefor definitive Receipts
representing the same number of Depositary Shares as represented by the
surrendered temporary Receipt or Receipts. Such exchange shall be made at the
Company’s expense and without any charge therefor. Until so exchanged, the
temporary Receipts shall in all respects be entitled to the same benefits under
this Deposit Agreement, and with respect to the Stock, as definitive Receipts.

No Receipt shall be entitled to any benefits under
this Deposit Agreement or be valid or obligatory for any purpose unless it
shall have been executed as provided in the preceding paragraph. The Depositary
shall record on its books each Receipt executed as provided above and delivered
as hereinafter provided. Receipts bearing the facsimile signature of anyone who
was at any time a duly authorized officer of the Depositary shall bind the
Depositary, notwithstanding that such officer has ceased to hold such office
prior to the delivery of such Receipts.

Receipts may be issued in denominations of any number
of whole Depositary Shares. All Receipts shall be dated the date of their
execution.

Receipts may be endorsed with or have incorporated in
the text thereof such legends or recitals or changes not inconsistent with the
provisions of this Deposit Agreement as may be required by the Depositary or
required to comply with any applicable law or regulation or with the rules and
regulations of any securities exchange upon which the Stock or the Depositary
Shares may be listed or to conform with any usage with respect thereto, or to
indicate any special limitations or restrictions to which any particular
Receipts are subject by reason of the date of issuance of the Stock or
otherwise.

Title to any Receipt (and to the Depositary Shares
evidenced by such Receipt) that is properly endorsed or accompanied by a
properly executed instrument of transfer shall be transferable by delivery with
the same effect as in the case of investment securities in general;

 3
 

 

provided, however, that the Depositary may,
notwithstanding any notice to the contrary, treat the record holder thereof at
such time as the absolute owner thereof for the purpose of determining the
person entitled to distributions of dividends or other distributions or to any
notice provided for in this Deposit Agreement and for all other purposes.

Section 2.2.
Deposit of Stock; Execution and Delivery of Receipts in Respect Thereof. Subject to the terms and conditions of this Deposit
Agreement, the Company or any holder of Stock may deposit such Stock under this
Deposit Agreement by delivery to the Depositary of a certificate or
certificates for the Stock to be deposited, properly endorsed or accompanied,
if required by the Depositary, by a properly executed instrument of transfer in
form satisfactory to the Depositary, together with (i) all such
certifications as may be required by the Depositary in accordance with the
provisions of this Deposit Agreement and (ii) a written order of the
Company or such holder, as the case may be, directing the Depositary to execute
and deliver to or upon the written order of the person or persons stated in
such order a Receipt or Receipts for the number of Depositary Shares
representing such deposited Stock.

Upon receipt by the Depositary of a certificate or
certificates for Stock to be deposited hereunder, together with the other
documents specified above, the Depositary shall, as soon as transfer and registration
can be accomplished, present such certificate or certificates to the registrar
and transfer agent of the Stock for transfer and registration in the name of
the Depositary or its nominee of the Stock being deposited. Deposited Stock
shall be held by the Depositary in an account to be established by the
Depositary at the Corporate Office.

Upon receipt by the Depositary of a certificate or
certificates for Stock to be deposited hereunder, together with the other
documents specified above, the Depositary, subject to the terms and conditions
of this Deposit Agreement, shall execute and deliver, to or upon the order of
the person or persons named in the written order delivered to the Depositary
referred to in the first paragraph of this Section 2.2, a Receipt or
Receipts for the number of whole Depositary Shares representing the Stock so
deposited and registered in such name or names as may be requested by such
person or persons. The Depositary shall execute and deliver such Receipt or
Receipts at the Corporate Office, except that, at the request, risk and expense
of any person requesting such delivery and for such person’s account or, upon
the order of such person, any other person’s account, such delivery may be made
at such other place as may be designated by such person. In each case, delivery
will be made only upon payment to the Depositary of all taxes and other
governmental charges and any fees payable in connection with such deposit and
the transfer of the deposited Stock.

The Company shall deliver to the Depositary from time
to time such quantities of Receipts as the Depositary may request to enable the
Depositary to perform its obligations under this Deposit Agreement.

Section 2.3.
Redemption and Repurchase of Stock. Whenever the Company shall redeem shares of Stock in accordance with a
Certificate of Designation, it shall (unless otherwise agreed in writing with
the Depositary) give the Depositary in its capacity as Depositary not less than
3 business days’ prior notice of the proposed date of the mailing of a notice
of redemption of Stock and the simultaneous redemption of the Depositary Shares
representing the Stock to be redeemed and of the number of such shares of Stock
held by the Depositary to be redeemed. 

 4
 

 

Unless the Certificate of Designation for a specific
series of Stock provides for a different notice period with respect to that
Stock in the event of its redemption, the Depositary shall, as directed by the
Company in writing, mail, first class postage prepaid, notice of the redemption
of Stock and the proposed simultaneous redemption of the Depositary Shares
representing the Stock to be redeemed not less than 30 and not more than 60
days prior to the date fixed for redemption of such Stock and Depositary
Shares, to the record holders of the Receipts evidencing the Depositary Shares
to be so redeemed at the addresses of such holders as the same appear on the
records of the Depositary or any Depositary’s Agent or Registrar. Notwithstanding
the foregoing, neither failure to mail or publish any such notice to one or
more such holders nor any defect in any notice shall affect the sufficiency of
the proceedings for redemption. The Company shall provide the Depositary with
such notice, and each such notice shall state the method for determining the amount
payable per Depositary Share, the redemption date, and the number of Depositary
Shares to be redeemed, and such notice shall call upon each holder of
Depositary Shares to surrender, on the redemption date and at the place or
places designated by the Company, the Receipts evidencing Depositary Shares to
be redeemed. On the date of any such redemption the Depositary shall surrender
the certificate or certificates held by the Depositary evidencing the number of
shares of Stock to be redeemed in the manner specified in the notice of
redemption of Stock provided by the Company pursuant to the applicable
Certificate of Designation. The Depositary shall, thereafter, redeem the number
of Depositary Shares representing such redeemed Stock upon the surrender of
Receipts evidencing such Depositary Shares in the manner provided in the notice
sent to record holders of Receipts.

Notice having been mailed by the Depositary as
aforesaid, from and after the redemption date (unless the Company shall have
failed to redeem the shares of Stock to be redeemed by it upon the surrender of
the certificate or certificates therefor by the Depositary as described in the
preceding paragraph), the Depositary Shares called for redemption shall be
deemed no longer to be outstanding and all rights of the holders of Receipts
evidencing such Depositary Shares (except the right to receive the cash,
securities or other property payable upon redemption upon surrender of such
Receipts) shall, to the extent of such Depositary Shares, cease and terminate. The
foregoing shall be subject further to the terms and conditions of the
applicable Certificate of Designation.

If fewer than all the Depositary Shares are to be
redeemed, the Depositary Shares to be redeemed will be selected by lot or
proportionately, as may be determined by the Depositary. If fewer than all of
the Depositary Shares evidenced by a Receipt are called for redemption, the
Depositary will deliver to the holder of such Receipt upon its surrender to the
Depositary, cash, securities or other property payable upon redemption in
respect of the Depositary Shares called for redemption and a new Receipt
evidencing the Depositary Shares evidenced by such prior Receipt and not called
for redemption.

The Depositary shall not be required to transfer or
exchange for another Receipt any Receipt evidencing Depositary Shares called or
being called for redemption, in whole or in part except as provided in the
immediately preceding paragraph of this Section 2.3.

Whenever the Company shall be required to make an
offer to repurchase Depositary Shares representing Stock in accordance with a
Certificate of Designation, it shall (unless otherwise agreed in writing with
the Depositary) give the Depositary in its capacity as 

 5
 

 

Depositary not less than 3 business days’ prior notice
of the required date of the mailing of a notice of the repurchase offer. The
Depositary shall, as directed by the Company in writing, mail, first class
postage prepaid, notice of the relevant terms of the repurchase offer, as
provided by the Company, to the record holders of the Receipts at the addresses
of such holders as the same appear on the records of the Depositary or any
Depositary’s Agent or Registrar, including: 
(i) that such notice is being given pursuant to a repurchase offer,
(ii) the number of Depositary Shares and Stock for which the offer is
being made, (iii) the method for determining the amount payable per
Depositary Share, (iv) the last date, which, unless the Certificate of
Designation for a specific series of Stock provides for a different period with
respect to that Stock in the event that the Company is required to make an
offer to repurchase it, shall not be less than 30 nor more than 60 days after
the date of such notice, by which a holder must elect to accept the repurchase
offer, (v) the procedures that such holder must follow to exercise its
rights, and (vi) the procedures for withdrawing an election.

The Depositary shall, thereafter, receive from each
holder electing to have Depositary Shares repurchased pursuant to the
repurchase offer in accordance with the instructions in the notice, the holder’s
Receipts, with an appropriate form duly completed prior to the repurchase date.
Holders will be entitled to withdraw an election by a written notice of
withdrawal delivered to the Depositary prior to the close of business on the
repurchase date. The notice of withdrawal shall state the number of Depositary
Shares and the Receipt numbers to which the notice of withdrawal relates and
the number of Depositary Shares and Receipt numbers, if any, which remain
subject to election. In case the aggregate number of Depositary Shares offered
for repurchase by the holders exceeds the amount of Depositary Shares which the
Company has offered to repurchase pursuant to the repurchase offer, the
Depositary Shares to be repurchased shall be selected by the Depositary by lot
or proportionately, as may be determined by the Depositary. The Depositary
shall, at the direction of the Company, cause payment to be mailed or delivered
to each tendering holder as promptly as reasonably practicable after the
repurchase date, in the amount of the repurchase price for the Depositary
Shares tendered, and any unpurchased Depositary Shares to be returned to the
holder thereof. The foregoing is subject further to the terms and conditions of
the applicable Certificate of Designation.

Section 2.4.
Register of Transfer of Receipts. Subject to the terms and conditions of this Deposit Agreement, the
Depositary shall register on its books from time to time transfers of Receipts
upon any surrender thereof at the Corporate Office, or such other office as the
Depositary may designate for such purpose, by the record holder in person or by
a duly authorized attorney, properly endorsed or accompanied by a properly
executed instrument of transfer, together with evidence of the payment of any
transfer taxes as may be required by law. Upon such surrender, the Depositary
shall execute a new Receipt or Receipts and deliver the same to or upon the
order of the person entitled thereto evidencing the same aggregate number of
Depositary Shares evidenced by the Receipt or Receipts surrendered.

Section 2.5.
Combination and Split-ups of Receipts. Upon surrender of a Receipt or Receipts at the
Corporate Office, or such other office as the Depositary may designate for the
purpose of effecting a split-up or combination of Receipts, subject to the
terms and conditions of this Deposit Agreement, the Depositary shall execute
and deliver a new Receipt or Receipts in the authorized denominations requested
evidencing the same aggregate number of Depositary

 6
 

 

Shares evidenced by the Receipt or Receipts
surrendered; provided, however, that the Depositary shall not issue any Receipt
evidencing a fractional Depositary Share.

Section 2.6.
Surrender of Receipts and Withdrawal of Stock. Any holder of a Receipt, including the Company,
shall have the right, upon payment of any amount due to the Depositary with
respect to the Receipt, to withdraw any or all of the Stock (but only in whole
shares of Stock) represented by the Depositary Shares and all money and other
property, if any, represented by such Depositary Shares by surrendering the
Receipt or Receipts evidencing such Depositary Shares at the Corporate Office,
or at such other office as the Depositary may designate for such withdrawals
(and cancellation of the surrendered Receipts as provided in Section 2.9).
After such surrender, without unreasonable delay, the Depositary shall deliver
to the holder the whole number of shares of Stock and all such money and other
property, if any, represented by the Depositary Shares evidenced by the Receipt
or Receipts so surrendered for withdrawal. If the Receipt or Receipts delivered
by the holder to the Depositary in connection with such withdrawal shall evidence
a number of Depositary Shares in excess of the number of whole Depositary
Shares representing the whole number of shares of Stock to be withdrawn, the
Depositary shall at the same time, in addition to such whole number of shares
of Stock and such money and other property, if any, to be withdrawn, deliver to
the holder, or (subject to Section 2.4) upon its order, a new Receipt or
Receipts evidencing such excess number of whole Depositary Shares.

Delivery of the Stock and such money and other
property being withdrawn may be made by the delivery of such certificates,
documents of title and other instruments as the Depositary may deem
appropriate, which, if required by the Depositary, shall be properly endorsed
or accompanied by proper instruments of transfer.

The Depositary shall deliver the Stock and the money
and other property, if any, represented by the Depositary Shares evidenced by
Receipts surrendered for withdrawal, without unreasonable delay, at the office
at which such Receipts were surrendered, except that, at the request, risk and
expense of the Company such delivery may be made, without unreasonable delay,
at such other place as may be designated by the Company.

For purposes of determining the number of Depositary
Shares outstanding on any dividend payment date, the Receipts representing
Depositary Shares acquired by the Company on or prior to such dividend payment
date and not theretofore delivered to the Depositary for withdrawal and
cancellation shall be deemed to be outstanding.

Section 2.7.
Limitations on Execution and Delivery, Transfer, Split-up, Combination and
Surrender of Receipts and Withdrawal or Deposit of Stock. As a condition precedent to the execution and
delivery, registration of transfer, split-up, combination, or surrender of any
Receipt, the delivery of any distribution thereon or withdrawal or deposit of
Stock, or the exercise of any conversion right referred to in Section 2.10,
the Depositary, any of the Depositary’s Agents, the Registrar or the Company
may require any or all of the following: 
(i) payment to it of a sum sufficient for the payment (or, in the
event that the Depositary or the Company shall have made such payment, the
reimbursement to it) of any tax or other governmental charge or fee with
respect thereto (including any such tax or charge or fee with respect to the
Stock being deposited or the Stock being withdrawn or with respect to property
of

 7
 

 

the Company being issued upon redemption or
conversion); (ii) production of proof satisfactory to it as to the identity
and genuineness of any signature; and (iii) compliance with such
reasonable regulations, if any, as the Depositary or the Company may establish
not inconsistent with the provisions of this Deposit Agreement.

The deposit of Stock may be refused, or the registration
of transfer, split-up, combination or surrender of outstanding Receipts and the
withdrawal of deposited Stock or the exercise of any conversion right referred
to in Section 2.10 may be suspended (i) during any period when the
register of stockholders of the Company is closed, (ii) if any such action
is deemed necessary or advisable by the Depositary, any of the Depositary’s
Agents or the Company at any time or from time to time because of any
requirement of law or of any government or governmental body or commission, or
under any provision of this Deposit Agreement, or (iii) with the approval
of the Company, for any other reason. Without limitation of the foregoing, the
Depositary shall not knowingly accept for deposit under this Deposit Agreement
any shares of Stock that are required to be registered under the Securities Act
unless a registration statement under the Securities Act is in effect as to
such shares of Stock.

Section 2.8.
Lost Receipts, etc. In case
any Receipt shall be mutilated or destroyed or lost or stolen, the Depositary
shall execute and deliver a Receipt of like form and tenor in exchange and
substitution for such mutilated Receipt or in lieu of and in substitution for
such destroyed, lost or stolen Receipt unless the Depositary has notice that
such Receipt has been acquired by a bona fide purchaser; provided, however,
that the holder thereof provides the Depositary with (i) evidence
satisfactory to the Depositary of such destruction, loss or theft of such
Receipt, of the authenticity thereof and of his ownership thereof, (ii) reasonable
indemnification satisfactory to the Depositary or the payment of any charges
incurred by the Depositary in obtaining insurance in lieu of such
indemnification and (iii) payment of any expense (including fees, charges
and expenses of the Depositary) in connection with such execution and delivery.

Section 2.9.
Cancellation and Destruction of Surrendered Receipts. All Receipts surrendered to the Depositary or any
Depositary’s Agent shall be cancelled by the Depositary. Except as prohibited
by applicable law or regulation, the Depositary is authorized to destroy such
Receipts so canceled.

Section 2.10.
Conversion. In the event
that the Stock, in accordance with its Certificate of Designation, is convertible
into the Company’s common stock or other securities, subject to the terms and
conditions of this Deposit Agreement, a holder of a Receipt or Receipts may
surrender such Receipt or Receipts at the Corporate Office or at such other
office or to a Depositary’s Agent that the Depositary may designate for such
purpose, together with a notice of conversion duly completed and executed,
thereby directing the Depositary or such Depositary’s Agent to instruct the
Company to cause the conversion of the number of shares of Stock specified in
such notice of conversion into shares of the Company’s common stock or other
securities at the rate specified in the applicable Certificate of Designation,
and an assignment of such Receipt or Receipts to the Company or in blank, duly
completed and executed, along with any other documents or instruments and any
amounts required by the applicable Certificate of Designation.

 8
 

 

Upon receipt by the Depositary or a Depositary’s Agent
of a Receipt or Receipts, together with a notice of conversion, duly completed
and executed, directing the Depositary or such Depositary’s Agent to instruct
the Company to cause the conversion of a specified number of shares of Stock at
the rate specified in the applicable Certificate of Designation, and an
assignment of such Receipt or Receipts to the Company or in blank, duly
completed and executed, along with any other documents or instruments or
amounts referred to in the preceding paragraph, the Depositary or such
Depositary’s Agent shall instruct the Company, subject to any adjustment
provided for in the applicable Certificate of Designation, (i) to cause
the conversion at the rate specified in the applicable Certificate of
Designation of the number of shares of Stock represented by the Depositary
Shares evidenced by the Receipt or Receipts so surrendered for conversion as
specified in the written notice to the Depositary or such Depositary’s Agent
and (ii) to cause the delivery to the holder of such Receipt or Receipts
of (a) a certificate or certificates evidencing the number of whole shares
of the Company’s common stock or other securities into which such Stock has
been converted, and (b) the amount of cash or other property, if any, to
which such holder is entitled in lieu of fractional shares of, or fractional
interests in, the Company’s common stock or other securities otherwise
deliverable by the Company upon such conversion, calculated in accordance with
the applicable Certificate of Designation. The Company shall as promptly as
practicable after receipt thereof cause the delivery of the certificate or
certificates and cash or other property, if any, referred to in clauses (a) and
(b) above, and such conversion shall be deemed to have been effected
immediately prior to the close of business on the date of such receipt and
shall occur at the rate specified in the Certificate of Designation in effect
at such time and on such date. Upon such conversion, the Depositary or such
Depositary’s Agent (i) shall deliver to the holder a Receipt evidencing
the number of Depositary Shares evidenced by the surrendered Receipt or
Receipts in excess of the number of Depositary Shares evidenced by such Receipt
or Receipts that have been so converted, (ii) shall cancel the Receipts
surrendered for conversion and (iii) shall deliver to the Company for
cancellation the number of shares of Stock evidenced by the Receipts so
surrendered and so converted. Upon the delivery of the shares of Stock to be
cancelled due to such conversion by the Depositary or such Depositary’s Agent
to the Company, the Company shall deliver to the Depositary or such Depositary’s
Agent, as applicable, a certificate or certificates evidencing the number of
shares of Stock, if any, that equals the excess of the number of shares
evidenced by the surrendered certificate over the number of shares evidenced by
that certificate that have been so converted. Depositary Shares converted in
connection with conversion of the Stock represented thereby shall only be
converted in whole, and not in part.

Upon the conversion of any Stock for which a notice of
conversion has been provided to the Depositary or a Depositary’s Agent by the
holder of the Receipt or Receipts representing such Stock, the Depositary
Shares evidenced by such Receipt or Receipts shall be deemed no longer
outstanding, all rights of the holder of the Receipt or Receipts evidencing
such Depositary Shares (except the right to receive (i) the Company’s
common stock or other securities to which such holder is entitled upon
conversion in accordance with the applicable Certificate of Designation, (ii) any
cash or other property payable in accordance with the applicable Certificate of
Designation with respect to any fractional shares or other fractional interests
in the Company’s common stock or other securities otherwise deliverable by the
Company upon conversion, (iii) any Receipts evidencing Depositary Shares
representing Stock which was not so converted and (iv) any other
securities, property or cash to which such holder is entitled under this
Deposit

 9

 

Agreement) shall cease and terminate, and the Receipt
or Receipts evidencing such Depositary Shares shall be cancelled.

No fractional shares or other fractional interests in
the Company’s common stock or other securities shall be deliverable by the
Company upon conversion of the Stock represented by the Depositary Shares.

ARTICLE III

CERTAIN OBLIGATIONS OF HOLDERS OF RECEIPTS AND THE COMPANY

Section 3.1.   Filing
Proofs, Certificates and Other Information.   Any person presenting Stock for deposit or any
holder of a Receipt may be required from time to time to file such proof of
residence or other information, to execute such certificates and to make such
representations and warranties as the Depositary or the Company may reasonably
deem necessary or proper. The Depositary or the Company may withhold or delay
the delivery of any Receipt, the registration of transfer or redemption of any
Receipt, the withdrawal of the Stock represented by the Depositary Shares
evidenced by any Receipt, the distribution of any dividend or other
distribution or the exercise of any conversion right referred to in Section 2.10,
or refuse to accept Receipts that are delivered for surrender, until such proof
or other information is filed, such certificates are executed or such
representations and warranties are made.

Section 3.2.   Payment
of Taxes or Other Governmental Charges.   If any tax or other governmental charge or fee
shall become payable by or on behalf of the Depositary with respect to (i) any
Receipt, (ii) the Depositary Shares evidenced by such Receipt, (iii) the
Stock (or fractional interest therein) or other property represented by such
Depositary Shares, or (iv) any transaction referred to in Section 4.6,
such tax (including transfer, issuance or acquisition taxes, if any) or
governmental charge or fee shall be payable by the holder of such Receipt, who
shall pay the amount thereof to the Depositary. Until such payment is made,
registration or transfer of any Receipt or any split-up or combination thereof
or any withdrawal of the Stock or money or other property, if any, represented
by the Depositary Shares evidenced by such Receipt or Receipts delivered for
surrender or the exercise of any conversion right referred to in Section 2.10
may be refused, any dividend or other distribution may be withheld and any part
or all of the Stock or other property represented by the Depositary Shares
evidenced by such Receipt may be sold for the account of the holder thereof
(after attempting by reasonable means to notify such holder prior to such sale).
Any dividend or other distribution so withheld and the proceeds of any such
sale may be applied to any payment of such tax or other governmental charge or
fee, the holder of such Receipt remaining liable for any deficiency.

Section 3.3.   Withholding.   The Depositary shall act as the tax withholding
agent for any payments, distributions made with respect to the Depositary
Shares and Receipts, and the Stock. The Depositary shall be responsible with
respect to the Depositary Shares, Receipts and Stock for the timely (i) collection
and deposit of any required withholding or backup withholding tax, and (ii) filing
of any information returns or other documents with federal (and other
applicable) taxing authorities.

 10
 

 

Section 3.4.   Representations
and Warranties as to Stock.   In the case of the initial deposit of the Stock, the Company and, in the
case of subsequent deposits thereof, each person so depositing Stock under this
Deposit Agreement shall be deemed thereby to represent and warrant that such
Stock and each certificate therefor are valid and that the person making such
deposit is duly authorized to do so. Such representations and warranties shall
survive the deposit of the Stock and the issuance of Receipts therefor.

ARTICLE IV

THE STOCK, NOTICES

Section 4.1.   Cash
Distributions.   Whenever
the Depositary shall receive any cash dividend or other cash distribution on
the Stock (other than cash dividends or cash distributions paid by the Company
in lieu of fractional shares or other fractional interests in the Company’s
common stock or other securities otherwise deliverable by the Company in
accordance with the applicable Certificate of Designation), the Depositary
shall, subject to Section 3.2, distribute to record holders of Receipts on
the record date fixed pursuant to Section 4.4 such amounts of such sum as
are, as nearly as practicable, in proportion to the respective numbers of
Depositary Shares evidenced by the Receipts held by such holders; provided,
however, that in case the Company or the Depositary shall be required by law to
withhold and does withhold from any cash dividend or other cash distribution in
respect of the Stock an amount on account of taxes, the amount made available
for distribution or distributed in respect of Depositary Shares shall be reduced
accordingly. The Depositary shall distribute or make available for
distribution, as the case may be, only such amount, however, as can be
distributed without attributing to any holder of Depositary Shares a fraction
of one cent and any balance not so distributable shall be held by the
Depositary (without liability for interest thereon) and shall be added to and
be treated as part of the next sum received by the Depositary for distribution
to record holders of Receipts then outstanding.

Section 4.2.   Distributions
Other Than Cash.   Whenever
the Depositary shall receive any distribution other than cash, rights,
preferences or privileges upon the Stock, the Depositary shall, subject to Section 3.2,
distribute to record holders of Receipts on the record date fixed pursuant to Section 4.4
such amounts of the securities or property received by it as are, as nearly as
practicable, in proportion to the respective numbers of Depositary Shares
evidenced by the Receipts held by such holders, in any manner that the Depositary
and the Company may deem equitable and practicable for accomplishing such
distribution. If, in the opinion of the Company after consultation with the
Depositary, such distribution cannot be made proportionately among such record
holders, or if for any other reason (including any tax withholding or
securities law requirement), the Depositary deems, after consultation with the
Company, such distribution not to be feasible, the Depositary may, with the
approval of the Company which approval shall not be unreasonably withheld,
adopt such method as it deems equitable and practicable for the purpose of
effecting such distribution, including the sale (at public or private sale) of
the securities or property thus received, or any part thereof, at such place or
places and upon such terms as it may deem proper. The net proceeds of any such
sale shall, subject to Section 3.2, be distributed or made available for
distribution, as the case may be, by the Depositary to record holders of
Receipts as provided by Section 4.1 in the case of a distribution received
in cash.

 11
 

 

Section 4.3.   Subscription
Rights, Preferences or Privileges.   If the Company shall at any time offer or cause to
be offered to the persons in whose names Stock is registered on the books of
the Company any rights, preferences or privileges to subscribe for or to purchase
any securities or any rights, preferences or privileges of any other nature,
such rights, preferences or privileges shall in each such instance be made
available by the Depositary to the record holders of Receipts in such manner as
the Company shall instruct (including by the issue to such record holders of
warrants representing such rights, preferences or privileges); provided,
however, that (i) if at the time of issue or offer of any such rights,
preferences or privileges the Company determines and instructs the Depositary
that it is not lawful or feasible to make such rights, preferences or
privileges available to some or all holders of Receipts (by the issue of
warrants or otherwise) or (ii) if and to the extent instructed by holders
of Receipts who do not desire to exercise such rights, preferences or
privileges, the Depositary shall then, in each case, and if applicable laws or
the terms of such rights, preferences or privileges so permit, sell such
rights, preferences or privileges of such holders at public or private sale, at
such place or places and upon such terms as it may deem proper. The net
proceeds of any such sale shall be distributed by the Depositary to the record
holders of Receipts entitled thereto as provided by Section 4.1 in the
case of a distribution received in cash.

If registration under the Securities Act of the
securities to which any rights, preferences or privileges relate is required in
order for holders of Receipts to be offered or sold such securities, the
Company shall promptly file a registration statement pursuant to the Securities
Act with respect to such rights, preferences or privileges and securities and
use its reasonable best efforts and take all steps reasonably available to it
to cause such registration statement to become effective sufficiently in
advance of the expiration of such rights, preferences or privileges to enable
such holders to exercise such rights, preferences or privileges. In no event
shall the Depositary make available to the holders of Receipts any right,
preference or privilege to subscribe for or to purchase any securities unless
and until such registration statement shall have become effective or unless the
offering and sale of such securities to such holders are exempt from
registration under the provisions of the Securities Act.

If any other action under the law of any jurisdiction
or any governmental or administrative authorization, consent or permit is
required in order for such rights, preferences or privileges to be made
available to holders of Receipts, the Company agrees with the Depositary that
the Company will use its reasonable best efforts to take such action or obtain
such authorization, consent or permit sufficiently in advance of the expiration
of such rights, preferences or privileges to enable such holders to exercise
such rights, preferences or privileges.

Section 4.4.   Notice
of Dividends, Fixing of Record Date for Holders of Receipts.   Whenever (i) any cash dividend or other cash
distribution shall become payable, or any distribution other than cash shall be
made, or any rights, preferences or privileges shall at any time be offered,
with respect to the Stock, or (ii) the Depositary shall receive notice of
any meeting at which holders of Stock are entitled to vote or of which holders
of Stock are entitled to notice, or (iii) of any mandatory conversion of,
or any election on the part of the Company to call for the redemption or
exchange of, any shares of Stock, in accordance with the provisions of the
applicable Certificate of Designation or otherwise, the Depositary shall in
each such instance fix a record date (which shall be the same date as the
record date fixed by the Company with respect to the Stock) for the
determination of the holders of Receipts (x) who shall be entitled to
receive 

 12
 

 

such dividend, distribution, rights, preferences or
privileges or the net proceeds of the sale thereof, or (y) who shall be
entitled to give instructions for the exercise of voting rights at any such
meeting or to receive notice of such meeting or of such conversion, exchange or
redemption.

Section 4.5.   Voting
Rights.   Upon receipt
of notice of any meeting at which the holders of Stock are entitled to vote,
the Depositary shall, as soon as practicable thereafter, mail to the record
holders of Receipts a notice, which shall be provided by the Company and which
shall contain (i) such information as is contained in such notice of
meeting, (ii) a statement that the holders of Receipts at the close of
business on a specified record date fixed pursuant to Section 4.4 will be
entitled, subject to any applicable provision of law, the Certificate of
Incorporation or the applicable Certificate of Designation, to instruct the
Depositary as to the exercise of the voting rights pertaining to the Stock
represented by their respective Depositary Shares and (iii) a brief statement
as to the manner in which such instructions may be given. Upon the written
request of a holder of a Receipt on such record date, the Depositary shall
endeavor insofar as practicable to vote or cause to be voted the Stock
represented by the Depositary Shares evidenced by such Receipt in accordance
with the instructions set forth in such request. The Company hereby agrees to
take all reasonable action that may be deemed necessary by the Depositary in
order to enable the Depositary to vote such Stock or cause such Stock to be
voted. In the absence of specific instructions from the holder of a Receipt,
the Depositary will abstain from voting to the extent of the Stock represented
by the Depositary Shares evidenced by such Receipt.

Section 4.6.   Changes
Affecting Stock and Reclassifications, Recapitalizations, etc.   Upon any split-up, consolidation or any other
reclassification of Stock, or upon any recapitalization, reorganization,
merger, amalgamation or consolidation affecting the Company or to which it is a
party or sale of all or substantially all of the Company’s assets, the
Depositary shall treat any shares of Stock or other securities or property
(including cash) that shall be received by the Depositary in exchange for or in
conversion of or in respect of the Stock as new deposited property under this
Deposit Agreement, and Receipts then outstanding shall thenceforth represent
the proportionate interests of holders thereof in the new deposited property so
received in exchange for or in respect of such Stock. In any such case the
Depositary may, in its discretion, with the approval of the Company, execute
and deliver additional Receipts, or may call for the surrender of all
outstanding Receipts to be exchanged for new Receipts specifically describing
such new deposited property.

Section 4.7.   Reports.   The Company or, at the option of the Company, the
Depositary shall forward to the holders of Receipts any reports and
communications received from the Company that are received by the Depositary as
the holder of Stock.

Section 4.8.   Lists
of Receipt Holders.   Promptly
upon request from time to time by the Company, the Depositary shall furnish to
it a list, as of a recent date, of the names, addresses and holdings of
Depositary Shares of all persons in whose names Receipts are registered on the
books of the Depositary, any Depositary’s Agent or the Registrar. At the
expense of the Company, the Company shall have the right to inspect transfer
and registration records of the Depositary, any Depositary’s Agent or the
Registrar, take copies thereof and require the 

 13
 

 

Depositary, any Depositary’s Agent or the Registrar to
supply copies of such portions of such records as the Company may request.

ARTICLE V

THE DEPOSITARY, THE DEPOSITARY’S AGENTS, THE REGISTRAR AND THE COMPANY

Section 5.1.   Maintenance
of Offices, Agencies, Transfer Books by the Depositary; the Registrar.   Upon execution of this Deposit Agreement in
accordance with its terms, the Depositary shall maintain (i) at the
Corporate Office facilities for the execution and delivery, registration,
registration of transfer, surrender, split-up, combination, redemption and
conversion of Receipts and deposit and withdrawal of Stock, and (ii) at
the offices of the Depositary’s Agents, if any, facilities for the delivery,
registration, registration of transfer, surrender, split-up, combination,
redemption and conversion of Receipts and deposit and withdrawal of Stock, all
in accordance with the provisions of this Deposit Agreement.

The Depositary, acting as transfer agent and
Registrar, shall keep books at the Corporate Office for the registration and
transfer of Receipts, which books at all reasonable times shall be open for
inspection by the record holders of Receipts; provided that any such holder
requesting to exercise such right shall certify to the Depositary that such
inspection shall be for a proper purpose reasonably related to such person’s
interest as an owner of Depositary Shares. The Depositary shall consult with
the Company upon receipt of any request for inspection. The Depositary may
close such books, at any time or from time to time, when deemed expedient by it
in connection with the performance of its duties hereunder.

If the Receipts or the Depositary Shares evidenced
thereby or the Stock represented by such Depositary Shares shall be listed on
one or more securities exchanges, the Depositary shall, with the approval of
the Company, appoint a Registrar for registry of such Receipts or Depositary
Shares in accordance with the requirements of such exchange or exchanges. Such
Registrar (which may be the Depositary if so permitted by the requirements of
such exchange or exchanges) may be removed and a substitute Registrar appointed
by the Depositary upon the request or with the approval of the Company. In
addition, if the Receipts, such Depositary Shares or such Stock are listed on
one or more securities exchanges, the Depositary will, at the request of the
Company, arrange such facilities for the delivery, registration, registration
of transfer, surrender, split-up, combination, redemption and conversion of
such Receipts, such Depositary Shares or such Stock as may be required by law
or applicable security exchange regulations.

Section 5.2.   Prevention
or Delay in Performance by the Depositary, the Depositary’s Agents, the
Registrar or the Company.   Neither the Depositary nor any Depositary’s Agent nor the Registrar nor
the Company shall incur any liability to any holder of any Receipt, if by
reason of any provision of any present or future law or regulation thereunder
of the United States of America or of any other governmental authority or of
any provision, present or future, of the Certificate of Incorporation or the
applicable Certificate of Designation or by reason of any act of god or war or
other circumstances beyond the control of the relevant party, the Depositary,
any Depositary’s Agent, the Registrar or the Company shall be prevented 

 14
 

 

or forbidden from doing or performing any act or thing
that the terms of this Deposit Agreement provide shall be done or performed;
nor shall the Depositary, any Depositary’s Agent, the Registrar or the Company
incur any liability to any holder of a Receipt (i) by reason of any
nonperformance or delay, caused as aforesaid, in the performance of any act or
thing that the terms of this Deposit Agreement provide shall or may be done or
performed, or (ii) by reason of any exercise of, or failure to exercise,
any discretion provided for in this Deposit Agreement except, in the case of
the Depositary, any Depositary’s Agent or the Registrar, if any such exercise
or failure to exercise discretion is caused by its negligence or willful
misconduct.

Section 5.3.   Obligations
of the Depositary, the Depositary’s Agents, the Registrar and the Company.   The Company assumes no obligation and shall be
subject to no liability under this Deposit Agreement or the Receipts to holders
or other persons, except to perform its obligations as are specifically set
forth and undertaken by it to perform in this Deposit Agreement without
negligence or bad faith. Each of the Depositary, the Depositary’s Agents and
the Registrar assumes no obligation and shall be subject to no liability under
this Deposit Agreement or the Receipts to holders or other persons, except to
perform such obligations as are specifically set forth and undertaken by it to
perform in this Deposit Agreement without negligence or willful misconduct.

Neither the Depositary nor any Depositary’s Agent nor
the Registrar nor the Company shall be liable for any action or any failure to
act by it in reliance upon the advice of or information from legal counsel,
accountants, any person presenting Stock for deposit, any holder of a Receipt
or any other person believed by it in good faith to be competent to give such
advice or information. The Depositary, any Depositary’s Agent, the Registrar
and the Company may each rely and shall each be protected in acting upon any
written notice, request, direction or other document believed by it to be
genuine and to have been signed or presented by the proper party or parties.

The Depositary, the Registrar and any Depositary’s
Agent may own and deal in any class of securities of the Company and its
affiliates and in Receipts or Depositary Shares. The Depositary may also act as
transfer agent or Registrar of any of the securities of the Company and its
affiliates.

It is intended that neither the Depositary nor any
Depositary’s Agent nor the Registrar shall be deemed to be an “issuer” of the
Stock, the Depositary Shares, or the Receipts or other securities issued upon
conversion, exchange or redemption of the Stock under the federal securities
laws or applicable state securities laws, it being expressly understood and
agreed that the Depositary and any Depositary’s Agent and the Registrar are
acting only in a ministerial capacity; provided, however, that the Depositary
and any Depositary’s Agent agree to comply with all information reporting and
withholding requirements applicable to each of them under law or this Deposit
Agreement in their capacity as such.

Neither the Depositary (or its officers, directors,
employees or agents) nor any Depositary’s Agent nor the Registrar makes any
representation or has any responsibility as to the validity of the registration
statement pursuant to which the Depositary Shares are registered under the
Securities Act, the Stock, the Depositary Shares or any instruments referred to
therein 

 15
 

 

or herein, or as to the correctness of any statement
made therein or herein; provided, however, that the Depositary is responsible
for its representations in this Deposit Agreement.

The Depositary assumes no responsibility for the
correctness of the description that appears in the Receipts, which can be taken
as a statement of the Company summarizing certain provisions of this Deposit
Agreement. Notwithstanding any other provision herein or in the Receipts, the
Depositary makes no warranties or representations as to the validity,
genuineness or sufficiency of any Stock at any time deposited with the
Depositary hereunder or of the Depositary Shares, as to the validity or sufficiency
of this Deposit Agreement, as to the value of the Depositary Shares or as to
any right, title or interest of the record holders of Receipts in and to the
Depositary Shares except that the Depositary hereby represents and warrants as
follows:  (i) the Depositary has
been duly organized and is validly existing and in good standing under the laws
of the State of                             ,
with full power, authority and legal right under such law to execute, deliver
and carry out the terms of this Deposit Agreement; (ii) this Deposit
Agreement has been duly authorized, executed and delivered by the Depositary;
and (iii) this Deposit Agreement constitutes, and when executed and
delivered, each Receipt will constitute, a valid and binding obligation of the
Depositary, enforceable against the Depositary in accordance with its terms,
except as enforcement thereof may be limited by bankruptcy, insolvency,
reorganization or other similar laws affecting enforcement of creditors’ rights
generally and except as enforcement thereof is subject to general principles of
equity (regardless of whether enforcement is considered in a proceeding in
equity or at law). The Depositary shall not be accountable for the use or
application by the Company of its proceeds from the Depositary Shares or the
Receipts.

Section 5.4.   Resignation
and Removal of the Depositary, Appointment of Successor Depositary.   The Depositary may at any time resign as Depositary
hereunder by written notice to the Company of its election to do so, such resignation
to take effect upon the appointment of a successor Depositary and its
acceptance of such appointment as hereinafter provided.

The Depositary may at any time be removed by the
Company by written notice to the Depositary of such removal, such removal to
take effect upon the appointment of a successor depositary and its acceptance
of such appointment as hereinafter provided.

In case at any time the Depositary acting hereunder
shall resign or be removed, the Company shall, within 60 days after the delivery
of the notice of resignation or removal, as the case may be, appoint a
successor depositary, which shall be a bank or trust company, or an affiliate
of a bank or trust company, having its principal office in the United States of
America and having a combined capital and surplus of at least $50,000,000. If a
successor depositary shall not have been appointed in 60 days, the resigning or
removed Depositary may petition a court of competent jurisdiction to appoint a
successor depositary. Every successor depositary shall execute and deliver to
its predecessor and to the Company an instrument in writing accepting its
appointment hereunder, and thereupon such successor depositary, without any
further act or deed, shall become fully vested with all the rights, powers,
duties and obligations of its predecessor and for all purposes shall be the
Depositary under this Deposit Agreement, and such predecessor, upon payment of
all sums due it and on the written request of the Company, shall promptly
execute and deliver an instrument transferring to such successor all rights and
powers of such predecessor hereunder, shall duly assign, transfer and deliver
all rights, title and 

 16
 

 

interest in the Stock and any moneys or property held
hereunder to such successor and shall deliver to such successor a list of the
record holders of all outstanding Receipts. Any successor Depositary shall
promptly mail notice of its appointment to the record holders of Receipts.

Any corporation into or with which the Depositary may
be merged, consolidated or converted shall be the successor of such Depositary
without the execution or filing of any document or any further act. Such
successor Depositary may execute the Receipts either in the name of the
predecessor Depositary or in the name of the successor Depositary.

Section 5.5.   Corporate
Notices and Reports.   The
Company agrees that it will deliver to the Depositary, and the Depositary will,
promptly after receipt thereof, transmit to the record holders of Receipts, in
each case at the address recorded in the Depositary’s books or the books of any
Depositary’s Agent or the Registrar, copies of all notices and reports
(including financial statements) required by law, by the rules of any
national securities exchange upon which the Stock, the Depositary Shares or the
Receipts are listed or by the Certificate of Incorporation or the applicable
Certificate of Designation to be furnished by the Company to holders of Stock. Such
transmission will be at the Company’s expense and the Company will provide the
Depositary with such number of copies of such documents as the Depositary may
reasonably request. In addition, the Depositary will transmit to the record
holders of Receipts at the Company’s expense such other documents as may be
requested by the Company.

Section 5.6.   Deposit
of Stock by the Company.   The Company agrees with the Depositary that neither the Company nor any
Company controlled by the Company will at any time deposit any Stock if such
Stock is required to be registered under the provisions of the Securities Act
and no registration statement is at such time in effect as to such Stock.

Section 5.7.   Indemnification
by the Company.   The
Company shall indemnify the Depositary for, and hold it harmless against, any
loss, liability, claim or expense (“Loss”) arising out of or in connection with
its duties under this Deposit Agreement, including the reasonable costs and
expenses of defending itself against Loss, unless such Loss shall have been
determined by a court of competent jurisdiction to be a result of the
Depositary’s negligence or willful misconduct.

Section 5.8.   Fees,
Charges and Expenses.   No
fees, charges and expenses of the Depositary or any Depositary’s Agent
hereunder or of any Registrar shall be payable by any person other than the
Company, except for any taxes and other governmental charges and except as provided
in this Deposit Agreement. If, at the request of a holder of a Receipt, the
Depositary incurs fees, charges or expenses for which it is not otherwise
liable hereunder, such holder or other person will be liable for such fees,
charges and expenses. All other fees, charges and expenses of the Depositary
and any Depositary’s Agent hereunder and of any Registrar (including, in each
case, reasonable fees and expenses of counsel) incident to the performance of
their respective obligations hereunder will be paid from time to time upon
consultation and agreement between the Depositary and the Company as to the
amount and nature of such fees, charges and expenses.

 17
 

 

ARTICLE VI

AMENDMENT AND TERMINATION

Section 6.1.   Amendment.   The form of the Receipts and any provision of this
Deposit Agreement may at any time and from time to time be amended by agreement
between the Company and the Depositary in any respect that they may deem
necessary or desirable, including to reflect the terms of any Certificate of
Designation; provided, however, that no such amendment that shall materially
and adversely alter the rights of the holders of Receipts shall be effective as
to outstanding Receipts until the expiration of 90 days after notice of such
amendment shall have been given to the record holders of outstanding Receipts. Each
holder of an outstanding Receipt at the time any such amendment becomes
effective shall be deemed, by continuing to hold such Receipt, to consent and
agree to such amendment and to be bound by this Deposit Agreement as amended
thereby. In no event shall any amendment impair the right, subject to the
provisions of this Deposit Agreement, of any holder of any Depositary Shares to
surrender the Receipt evidencing such Depositary Shares with instructions to
the Depositary to deliver to the holder the Stock or to cause the conversion of
such Stock into the Company’s common stock or other securities in accordance
with the applicable Certificate of Designation and to deliver all securities,
money and other property, if any, represented thereby, except in order to
comply with mandatory provisions of applicable law.

Section 6.2.   Termination.   This Deposit Agreement may be terminated by either
the Company or the Depositary, upon notice to the other, only if (i) all
of the outstanding Depositary Shares have been redeemed or converted for any
other securities into which the Stock is convertible, or (ii) there has
been a final distribution of the Stock to the holders of Receipts in connection
with the Company’s liquidation, dissolution or winding up. The Depositary will
mail notice of such termination to the record holders of all Receipts then
outstanding at least 30 days prior to the date fixed in such notice for such
termination. If any Receipts shall remain outstanding after the date of
termination of this Deposit Agreement, the Depositary thereafter shall
discontinue the transfer of Receipts, and shall not give any further notices or
perform any further acts under this Deposit Agreement, except that the
Depositary shall continue to deliver the Stock and any money and other property
represented by Receipts, without liability for interest thereon, upon surrender
thereof by the holders thereof, and the Depositary shall be discharged from all
obligations under this Deposit Agreement except to account for such Stock,
money and other property. Upon the termination of this Deposit Agreement, the
Company shall be discharged from all obligations under this Deposit Agreement
except for its obligations to the Depositary, any Depositary’s Agent and any
Registrar under Sections 5.7 and 5.8.

ARTICLE VII

MISCELLANEOUS

Section 7.1.   Counterparts.   This Deposit Agreement may be executed by the
Company and the Depositary in separate counterparts, each of which
counterparts, when so executed and delivered, shall be deemed an original, but
all such counterparts taken together shall constitute one and the same
instrument. Delivery of an executed counterpart of a signature page to
this Deposit Agreement by telecopier shall be effective as delivery of a
manually executed 

 18
 

 

counterpart of this Deposit Agreement. Copies of this
Deposit Agreement shall be filed with the Depositary and the Depositary’s
Agents and shall be open to inspection during business hours at the Corporate
Office and the respective offices of the Depositary’s Agents, if any, by any
holder of a Receipt.

Section 7.2.   Exclusive
Benefits of Parties.   This
Deposit Agreement is for the exclusive benefit of the parties hereto, and their
respective successors hereunder, and shall not be deemed to give any legal or
equitable right, remedy or claim to any other person whatsoever.

Section 7.3.   Invalidity
of Provisions.   In
case any one or more of the provisions contained in this Deposit Agreement or
in the Receipts should be or become invalid, illegal or unenforceable in any
respect, the validity, legality and enforceability of the remaining provisions
contained herein or therein shall in no way be affected, prejudiced or
disturbed thereby.

Section 7.4.   Notices.   Any notices to be given to the Company hereunder or
under the Receipts shall be in writing and shall be deemed to have been duly
given if personally delivered or sent by mail (first class postage prepaid), by
a nationally recognized overnight courier service, or by telecopier confirmed
by letter, addressed to the Company at 5995 Plaza Drive, Cypress, California
90630, Attention:  General Counsel, or at
any other place to which the Company may have transferred its principal
executive office.

Any notices to be given to the Depositary hereunder or
under the Receipts shall be in writing and shall be deemed to have been duly
given if personally delivered or sent by mail (first class postage), by a
nationally recognized overnight courier service, or by telecopier confirmed by
letter, addressed to the Depositary at the Corporate Office.

Except as provided in the next paragraph, any notices
given to any record holder of a Receipt hereunder or under the Receipts shall
be in writing and shall be deemed to have been duly given if personally
delivered or sent by mail (first class postage), by a nationally recognized
overnight courier service or by telecopier confirmed by letter, addressed to
such record holder at the address of such record holder as it appears on the
books of the Depositary or, if such holder shall have filed with the Depositary
a written request that notices intended for such holder be mailed to some other
address, at the address designated in such request.

In addition, whenever the Certificate of Designation
requires any notice to be published, the Depositary will, if requested by the
Company, cause such notice to be published in the manner directed by the
Company.

Delivery of a notice sent by mail, by overnight
courier or by telecopier shall be deemed to be effected at the time when a duly
addressed letter containing the same (or a duly addressed letter confirming an
earlier notice in the case of a telecopier message) is deposited, postage
prepaid, in a post office letter box or with the overnight courier service. The
Depositary or the Company may, however, act upon any telecopier message
received by it from the other or from any holder of a Receipt, notwithstanding
that such telecopier message shall not subsequently be confirmed by letter as
aforesaid.

Section 7.5.   Depositary’s
Agents.   The
Depositary may, with the approval of the Company which approval shall not be
unreasonably withheld, from time to time appoint one or 

 19
 

 

more Depositary’s Agents to act in any respect for the
Depositary for the purposes of this Deposit Agreement and may vary or terminate
the appointment of such Depositary’s Agents.

Section 7.6.   Holders
of Receipts Are Parties.   Notwithstanding that holders of Receipts have not executed and delivered
this Deposit Agreement or any counterpart thereof, the holders of Receipts from
time to time shall be deemed to be parties to this Deposit Agreement and shall
be bound by all of the terms and conditions, and be entitled to all of the
benefits, hereof and of the Receipts by acceptance of delivery of Receipts.

Section 7.7.   Governing
Law.   This Deposit
Agreement and the Receipts and all rights hereunder and thereunder and
provisions hereof and thereof shall be governed by, and construed in accordance
with, the law of the State of New York without giving effect to principles of
conflict of laws.

Section 7.8.   Headings.   The headings of articles and sections in this
Deposit Agreement and in the form of the Receipt set forth in Exhibit A
hereto have been inserted for convenience only and are not to be regarded as a
part of this Deposit Agreement or to have any bearing upon the meaning or
interpretation of any provision contained herein or in the Receipts.

 20

 

IN WITNESS WHEREOF,
Allos Therapeutics, Inc. and                       
have duly executed this Deposit Agreement as of the day and year first above
set forth and all holders of Receipts shall become parties hereto by and upon
acceptance by them of delivery of Receipts issued in accordance with the terms
hereof.

	
   

  	
  ALLOS THERAPEUTICS, INC.

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Authorized Officer

  
	
   

  	
   

  	
   

  	
  , as
  Depositary

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Authorized Officer

  

 

 

 

[SIGNATURE PAGE TO DEPOSIT AGREEMENT]

 

Exhibit A to Deposit
Agreement

[FORM OF DEPOSITARY
RECEIPT]

[Unless this certificate is presented by an authorized
representative of The Depository Trust Company, a New York corporation (“DTC”),
to the Company or its agent for registration of transfer, conversion, 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 in as
much as the registered owner hereof, Cede & Co., has an interest
herein.]

DEPOSITARY RECEIPT

FOR

DEPOSITARY SHARES

EACH REPRESENTING           
OF A SHARE OF

                              
PREFERRED STOCK, SERIES     

OF

ALLOS THERAPEUTICS, INC.

No.       CUSIP: 
                              

                              
(the “Depositary”) hereby certifies that [Cede & Co.]                               
is the registered holder of                         
Depositary Shares (the “Depositary Shares”), each Depositary Share representing
                          
of a share of                           
Preferred Stock, Series     , $0.001 par value (the “Stock”),
of Allos Therapeutics, Inc., a corporation duly organized and existing
under the laws of the State of Delaware (the “Company”), deposited with the
Depositary and the same proportionate interest in any and all other property
received by the Depositary in respect of such shares of Stock and held by the
Depositary under the Deposit Agreement (as defined below). Subject to the terms
of the Deposit Agreement, each owner of a Depositary Share is entitled,
proportionately, to all the rights, preferences and privileges, and subject to
all the limitations and restrictions, of the Stock represented thereby,
including any dividend, voting, conversion, redemption, liquidation and sinking
fund rights contained in the Certificate of Designation establishing the
rights, preferences, privileges, limitations and restrictions of the Stock (the
“Certificate of Designation”), copies of which are on file at the office of the
Depositary in [the City of New York, Borough of Manhattan]                                       
at which at any particular time its business in respect of matters governed by
the Deposit Agreement shall be administered, which at the time of the execution
of the Deposit Agreement is located at                             
(the “Corporate Office”).

This Depositary Receipt (“Receipt”) shall not be
entitled to any benefits under the Deposit Agreement or be valid or obligatory
for any purpose unless this Receipt shall have been executed manually or, if a
Registrar for the Receipts (other than the Depositary) shall have been 

 A-1
 

 

appointed, by facsimile by the Depositary by the
signature of a duly authorized officer and, if executed by facsimile signature
of the Depositary, shall have been countersigned manually by such Registrar by
the signature of a duly authorized officer.

THE DEPOSITARY IS NOT RESPONSIBLE FOR THE VALIDITY OF
ANY DEPOSITED STOCK. THE DEPOSITARY ASSUMES NO RESPONSIBILITY FOR THE
CORRECTNESS OF THE DESCRIPTION SET FORTH IN THIS RECEIPT, WHICH CAN BE TAKEN AS
A STATEMENT OF THE COMPANY SUMMARIZING CERTAIN PROVISIONS OF THE DEPOSIT
AGREEMENT. UNLESS EXPRESSLY SET FORTH IN THE DEPOSIT AGREEMENT, THE DEPOSITARY
MAKES NO WARRANTIES OR REPRESENTATIONS AS TO THE VALIDITY, GENUINENESS OR
SUFFICIENCY OF ANY STOCK AT ANY TIME DEPOSITED WITH THE DEPOSITARY UNDER THE
DEPOSIT AGREEMENT OR OF THE DEPOSITARY SHARES, AS TO THE VALIDITY OR
SUFFICIENCY OF THE DEPOSIT AGREEMENT, AS TO THE VALUE OF THE DEPOSITARY SHARES
OR AS TO ANY RIGHT, TITLE OR INTEREST OF THE RECORD HOLDERS OF THE RECEIPTS IN
AND TO THE DEPOSITARY SHARES.

The Company will furnish to any holder of this Receipt
without charge, upon request addressed to its executive office, a full
statement of the designation, relative rights, preferences, privileges,
limitations and restrictions of the shares of each authorized class, and of
each class of preferred stock authorized to be issued, so far as the same may
have been fixed, and a statement of the authority of the board of directors of
the Company to designate and fix the relative rights, preferences, privileges,
limitations and restrictions of other classes.

This Receipt is continued on the reverse hereof and
the additional provisions therein set forth for all purposes have the same
effect as if set forth at this place.

	
  Dated:

  	
  

  	
   

  
	
   

  	
  ,

  
	
  as Depositary
  and Registrar

  	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Authorized
  Officer

  	
   

  

 

Further Conditions and
Agreements Forming Part of this Receipt Appear on the Reverse Side.

 A-2
 

 

[REVERSE
OF DEPOSITARY RECEIPT]

1.   The
Deposit Agreement.   Receipts, of which this
Receipt is one, are made available upon the terms and conditions set forth in
the Deposit Agreement, dated as of                         
(the “Deposit Agreement”), among the Company, the Depositary and all holders
from time to time of Receipts. The Deposit Agreement (copies of which are on
file at the Corporate Office and at the office of any agent of the Depositary)
sets forth the rights of holders of Receipts and the rights and duties of the
Depositary. The statements made on the face and the reverse of this Receipt are
summaries of certain provisions of the Deposit Agreement and are subject to the
detailed provisions thereof, to which reference is hereby made. In the event of
any conflict between the provisions of this Receipt and the provisions of the
Deposit Agreement, the provisions of the Deposit Agreement will govern.

2.   Definitions.   Unless
otherwise expressly herein provided, all defined terms used herein shall have
the meanings ascribed thereto in the Deposit Agreement.

3.   Redemption
by the Company; Repurchase by the Company.   Whenever the
Company shall redeem shares of Stock in accordance with a Certificate of
Designation, it shall (unless otherwise agreed in writing with the Depositary)
give the Depositary in its capacity as Depositary not less than 3 business days’
prior notice of the proposed date of the mailing of a notice of redemption of
Stock and the simultaneous redemption of the Depositary Shares representing the
Stock to be redeemed and of the number of such shares of Stock held by the
Depositary to be redeemed. Unless the Certificate of Designation for a specific
series of Stock provides for a different notice period with respect to that
Stock in the event of its redemption, the Depositary shall, as directed by the
Company in writing, mail, first class postage prepaid, notice of the redemption
not less than 30 and not more than 60 days prior to the date fixed for
redemption of such Stock and Depositary Shares, to the record holders of the
Receipts evidencing the Depositary Shares to be so redeemed, at the addresses
of such holders as the same appear on the records of the Depositary or any
Depositary’s Agent or Registrar. Notwithstanding the foregoing, neither failure
to mail or publish any such notice to one or more such holders nor any defect
in any notice shall affect the sufficiency of the proceedings for redemption. On
the date of any such redemption, the Depositary shall surrender the certificate
or certificates held by the Depositary evidencing the number of shares of Stock
to be redeemed in the manner specified in the notice of redemption. The
Depositary shall, thereafter, redeem the number of Depositary Shares
representing such redeemed Stock upon the surrender of Receipts evidencing such
Depositary Shares in the manner provided in the notice sent to record holders
of Receipts. Notice having been mailed as aforesaid, from and after the
redemption date (unless the Company shall have failed to redeem the shares of
Stock to be redeemed by it upon the surrender of the certificate or
certificates therefor by the Depositary as described above), the Depositary Shares
called for redemption shall be deemed no longer to be outstanding and all
rights of the holders of Receipts evidencing such Depositary Shares (except the
right to receive the cash, securities or other property payable upon redemption
upon surrender of such Receipts) shall, to the extent of such Depositary
Shares, cease and terminate. The foregoing shall be subject further to the
terms and conditions of the applicable Certificate of Designation.

Whenever the Company shall be required to make an
offer to repurchase Depositary Shares in accordance with a Certificate of
Designation, it shall (unless otherwise agreed in 

 A-3
 

 

writing with the Depositary) give the Depositary in
its capacity as Depositary not less than 3 business days’ prior notice of the
required date of the mailing of a notice of the repurchase offer. The
Depositary shall, as directed by the Company in writing, mail, first class
postage prepaid, notice of the relevant terms of the repurchase offer, as
provided by the Company, to the record holders of the Receipts at the addresses
of such holders as the same appear on the records of the Depositary or any
Depositary’s Agent or Registrar. The Depositary shall, thereafter, receive from
each holder electing to have Depositary Shares repurchased pursuant to the
repurchase offer in accordance with the instructions in the notice, the holder’s
Receipts, with an appropriate form duly completed prior to the repurchase date.
In case the aggregate number of Depositary Shares offered for repurchase by the
holders exceeds the amount of Depositary Shares which the Company has offered
to repurchase pursuant to the repurchase offer, the Depositary Shares to be
repurchased shall be selected by the Depositary by lot or proportionately, as
may be determined by the Depositary. The foregoing is subject further to the
terms and conditions of the applicable Certificate of Designation.

4.   Conversion.   In
the event that the Stock, in accordance with its Certificate of Designation, is
convertible into the Company’s common stock or other securities, subject to the
terms and conditions of the Deposit Agreement, a holder of a Receipt or
Receipts may surrender such Receipt or Receipts at the Corporate Office or at
such other office or to a Depositary’s Agent that the Depositary may designate
for such purpose, together with a notice of conversion duly completed and
executed, thereby directing the Depositary or such Depositary’s Agent to
instruct the Company to cause the conversion of the number of shares of Stock
specified in such notice of conversion into shares of the Company’s common
stock or other securities at the rate specified in the applicable Certificate
of Designation, and an assignment of such Receipt or Receipts to the Company or
in blank, duly completed and executed, along with any other documents or
instruments and any amounts required by the applicable Certificate of
Designation.

Upon receipt by the Depositary or a Depositary’s Agent
of a Receipt or Receipts of such notice, assignment and other documents,
instruments or amounts, the Depositary or such Depositary’s Agent shall
instruct the Company, subject to any adjustment provided for in the applicable
Certificate of Designation, (i) to cause the conversion at the rate
specified in the applicable Certificate of Designation of the number of shares
of Stock evidenced by the Receipt or Receipts so surrendered for conversion as
specified in the written notice to the Depositary or such Depositary’s Agent
and (ii) to cause the delivery to the holder of such Receipt or Receipts
of (a) a certificate or certificates evidencing the number of whole shares
of the Company’s common stock or other securities into which such Stock has
been converted, and (b) the amount of cash or other property, if any, to
which such holder is entitled in lieu of fractional shares of, or fractional
interests in, the Company’s common stock or other securities otherwise deliverable
by the Company upon such conversion, calculated in accordance with the
applicable Certificate of Designation. Upon such conversion, the Depositary or
such Depositary’s Agent (i) shall deliver to the holder a Receipt
evidencing the number of Depositary Shares evidenced by the surrendered Receipt
or Receipts in excess of the number of Depositary Shares evidenced by such
Receipt or Receipts that have been so converted, (ii) shall cancel the
Receipts surrendered for conversion and (iii) shall deliver to the Company
for cancellation the number of shares of Stock evidenced by the Receipts so
surrendered and so converted.

 A-4
 

 

Upon the conversion of any Stock for which a notice of
conversion has been provided to the Depositary or a Depositary’s Agent by the holder
of the Receipt or Receipts representing such Stock, the Depositary Shares
evidenced by such Receipt or Receipts shall be deemed no longer outstanding,
all rights of the holder of the Receipt or Receipts evidencing such Depositary
Shares (except the right to receive (i) the Company’s common stock or
other securities to which such holder is entitled upon conversion in accordance
with the applicable Certificate of Designation, (ii) any cash or other
property payable in accordance with the applicable Certificate of Designation
with respect to any fractional shares or other fractional interests in the
Company’s common stock or other securities otherwise deliverable by the Company
upon conversion, (iii) any Receipts evidencing Depositary Shares
representing Stock which was not so converted and (iv) any other
securities, property or cash to which such holder is entitled under this
Deposit Agreement) shall cease and terminate, and the Receipt or Receipts
evidencing such Depositary Shares shall be cancelled.

No fractional shares or other fractional interests in
the Company’s common stock or other securities shall be deliverable by the
Company upon conversion of the Stock represented by the Depositary Shares.

5.   Withdrawal
of Stock.   Holders of Receipts shall have the right,
upon payment of any amount due to the Depositary with respect to the Receipts,
to withdraw any or all of the Stock (but only in whole shares of Stock)
represented by the Depositary Shares and all money and other property, if any,
represented by such Depositary Shares by surrendering the Receipt or Receipts
evidencing such Depositary Shares at the Corporate Office, or at such other
offices as the Depositary may designate for such withdrawal (and cancellation
of the surrendered Receipts as provided in the Deposit Agreement).

6.   Transfers,
Split-ups, Combinations.   Subject to Paragraphs 7, 8 and
9 below, this Receipt is transferable on the books of the Depositary upon
surrender of this Receipt to the Depositary at the Corporate Office or at such
other offices as the Depositary may designate for such purchase, properly
endorsed or accompanied by a properly executed instrument of transfer, together
with evidence of the payment of any transfer taxes as may be required by law,
and upon such transfer the Depositary shall execute and deliver a Receipt or
Receipts to or upon the order of the person entitled thereto, all as provided
in and subject to the Deposit Agreement. Subject to the Deposit Agreement, this
Receipt may be split into other Receipts or combined with other Receipts into
one Receipt evidencing the same aggregate number of Depositary Shares evidenced
by the Receipt or Receipts surrendered; provided, however, that the Depositary
shall not issue any Receipt evidencing a fractional Depositary Share.

7.   Conditions
to Signing and Delivery, Transfer, etc., of Receipts.   Prior to the execution
and delivery, registration of transfer, split-up, combination, or surrender of
this Receipt, the delivery of any distribution hereon or withdrawal or deposit
of the Stock evidenced hereby, or the exercise of any applicable conversion
right, the Depositary, any of the Depositary’s Agents, the Registrar or the
Company may require any or all of the following:  (i) payment to it of a sum sufficient
for the payment (or, in the event that the Depositary or the Company shall have
made such payment, the reimbursement to it) of any tax or other governmental
charge or fee with respect thereto (including any such tax or charge or fee
with respect to Stock being deposited or withdrawn or with respect to other
property of the Company 

 A-5
 

 

being issued upon redemption or conversion); (ii) production
of proof satisfactory to it as to the identity and genuineness of any
signature; and (iii) compliance with such reasonable regulations, if any,
as the Depositary or the Company may establish not inconsistent with the
Deposit Agreement. Any person presenting Stock for deposit, or any holder of
this Receipt, may be required to file such proof of residence or other
information, to execute such certificates and to make such representations and
warranties as the Depositary or the Company may reasonably deem necessary or
proper. The Depositary or the Company may withhold or delay the delivery of
this Receipt, the registration of transfer or redemption of this Receipt, the
withdrawal of the Stock represented by the Depositary Shares evidenced by this
Receipt, the distribution of any dividend or other distribution or the exercise
of any applicable conversion right, until such proof or other information is
filed, such certificates are executed or such representations and warranties
are made.

8.   Suspension
of Delivery, Transfer, etc.   The registration of
transfer, split-up, combination or surrender of this Receipt and the withdrawal
of deposited Stock or the exercise of any applicable conversion right may be
suspended (i) during any period when the register of stockholders of the
Company is closed, (ii) if any such action is deemed necessary or
advisable by the Depositary, any of the Depositary’s Agents or the Company at
any time or from time to time because of any requirement of law or of any
government or governmental body or commission, or under any provision of the
Deposit Agreement, or (iii) with the approval of the Company, for any
other reason.

9.   Payment
of Taxes or Other Governmental Charges.   If any tax or
other governmental charge or fee shall become payable by or on behalf of the
Depositary with respect to (i) this Receipt, (ii) the Depositary
Shares evidenced by this Receipt, (iii) the Stock (or fractional interest
therein) or other property represented by such Depositary Shares, or (iv) any
transaction referred to in Section 4.6 of the Deposit Agreement, such tax
(including transfer, issuance or acquisition taxes, if any) or governmental
charge or fee shall be payable by the holder of this Receipt, who shall pay the
amount thereof to the Depositary. Until such payment is made, registration or
transfer of this Receipt or any split-up or combination of this Receipt or any
withdrawal of the Stock or money or other property, if any, represented by the
Depositary Shares evidenced by this Receipt upon its surrender or the exercise
of any applicable conversion right may be refused, any dividend or other
distribution may be withheld and any part or all of the Stock or other property
represented by the Depositary Shares evidenced by this Receipt may be sold for
the account of the holder hereof (after attempting by reasonable means to
notify such holder prior to such sale). Any dividend or other distribution so
withheld and the proceeds of any such sale may be applied to any payment of
such tax or other governmental charge or fee, the holder of this Receipt
remaining liable for any deficiency.

10.   Amendment.   The
form of the Receipts and any provision of the Deposit Agreement may at any time
and from time to time be amended by agreement between the Company and the
Depositary in any respect that they may deem necessary or desirable, including
to reflect the terms of any Certificate of Designation; provided, however, that
no such amendment that shall materially and adversely alter the rights of the
holders of Receipts shall be effective as to outstanding Receipts until the
expiration of 90 days after notice of such amendment shall have been given to
the record holders of outstanding Receipts. Each holder of an outstanding
Receipt at the time any such amendment becomes effective shall be deemed, by 

 A-6
 

 

continuing to hold such Receipt, to consent and agree
to such amendment and to be bound by the Deposit Agreement as amended thereby. In
no event shall any amendment impair the right, subject to the provisions of the
Deposit Agreement, of the holder of the Depositary Shares evidenced by this
Receipt to surrender this Receipt with instructions to the Depositary to deliver
to the holder the Stock or to cause the conversion of such Stock into the
Company’s common stock or other securities in accordance with the applicable
Certificate of Designation and to deliver all securities, money and other
property, if any, represented thereby, except in order to comply with mandatory
provisions of applicable law.

11.   Fees,
Charges and Expenses.   The Company will pay all fees,
charges and expenses of the Depositary, except for taxes and other governmental
charges and such charges as are otherwise expressly provided for in the Deposit
Agreement.

12.   Title
to Receipts.   It is a condition of this Receipt, and
every successive holder hereof by accepting or holding the same consents and
agrees, that title to this Receipt (and to the Depositary Shares evidenced
hereby), when properly endorsed or accompanied by a properly executed
instrument of transfer, is transferable by delivery with the same effect as in
the case of investment securities in general; provided, however, that the
Depositary may, notwithstanding any notice to the contrary, treat the record
holder hereof at such time as the absolute owner hereof for the purpose of
determining the person entitled to distribution of dividends or other
distributions or to any notice provided for in the Deposit Agreement and for
all other purposes.

13.   Dividends
and Distributions.   Whenever the Depositary shall
receive any cash dividend or other cash distribution on the Stock (other than
cash dividends or cash distributions paid by the Company in lieu of fractional
shares or other fractional interests in the Company’s common stock or other
securities otherwise deliverable by the Company in accordance with the
applicable Certificate of Designation), the Depositary shall, subject to the
provisions of the Deposit Agreement, distribute to record holders of Receipts
on the record date fixed pursuant to paragraph 15 such amounts of such
sums as are, as nearly as practicable, in proportion to the respective numbers
of Depositary Shares evidenced by the Receipts held by such holders; provided,
however, that in case the Company or the Depositary shall be required by law to
withhold and does withhold from any cash dividend or other cash distribution in
respect of the Stock an amount on account of taxes, the amount made available
for distribution or distributed in respect of Depositary Shares shall be
reduced accordingly. The Depositary shall distribute or make available for
distribution, as the case may be, only such amount, however, as can be
distributed without attributing to any holder of Depositary Shares a fraction
of one cent and any balance not so distributable shall be held by the
Depositary (without liability for interest thereon) and shall be added to and
be treated as part of the next sum received by the Depositary for distribution
to record holders of Receipts then outstanding.

14.   Subscription
Rights, Preferences or Privileges.   If the Company shall
at any time offer or cause to be offered to the persons in whose name Stock is
registered on the books of the Company any rights, preferences or privileges to
subscribe for or to purchase any securities or any rights, preferences or
privileges of any other nature, such rights, preferences or privileges shall in
each such instance, subject to the provisions of the Deposit Agreement, be made
available by the Depositary to the record holders of Receipts in such manner as
the Company shall instruct.

 A-7
 

 

15.   Notice
of Dividends, Fixing of Record Date.   Whenever (i) any
cash dividend or other cash distribution shall become payable, or any
distribution other than cash shall be made, or any rights, preferences or
privileges shall at any time be offered, with respect to the Stock, or (ii) the
Depositary shall receive notice of any meeting at which holders of Stock are
entitled to vote or of which holders of Stock are entitled to notice, or (iii) of
any mandatory conversion of, or any election on the part of the Company to call
for redemption or exchange of, any shares of Stock, in accordance with the
applicable Certificate of Designation or otherwise, the Depositary shall in
each such instance fix a record date (which shall be the same date as the
record date fixed by the Company with respect to the Stock) for the
determination of the holders of Receipts (x) who shall be entitled to
receive such dividend, distribution, rights, preferences or privileges or the
net proceeds of the sale thereof, or (y) who shall be entitled to give
instructions for the exercise of voting rights at any such meeting or to
receive notice of such meeting or of such conversion, exchange or redemption.

16.   Voting
Rights.   Upon receipt of notice of any meeting at which
the holders of Stock are entitled to vote, the Depositary shall, as soon as
practicable thereafter, mail to the record holders of Receipts a notice, which
shall contain (i) such information as is contained in such notice of
meeting, (ii) a statement that the holders of Receipts at the close of
business on a specified record date determined as provided in paragraph 15
will be entitled, subject to any applicable provision of law, the Certificate of
Incorporation or the applicable Certificate of Designation, to instruct the
Depositary as to the exercise of the voting rights pertaining to the Stock
represented by their respective Depositary Shares, and (iii) a brief
statement as to the manner in which such instructions may be given. Upon the
written request of a holder of this Receipt on such record date, the Depositary
shall endeavor insofar as practicable to vote or cause to be voted the Stock
represented by the Depositary Shares evidenced by this Receipt in accordance
with the instructions set forth in such request. The Company hereby agrees to
take all reasonable action that may be deemed necessary by the Depositary in
order to enable the Depositary to vote such Stock or cause such Stock to be
voted. In the absence of specific instructions from the holder of this Receipt,
the Depositary will abstain from voting to the extent of the Stock represented
by the Depositary Shares evidenced by this Receipt.

17.   Reports,
Inspection of Transfer Books.   The Company agrees that
it will deliver to the Depositary, and the Depositary will, promptly after
receipt thereof, transmit to the record holders of Receipts, in each case at
the address recorded in the Depositary’s books or the books of any Depositary’s
Agent or the Registrar, copies of all notices and reports (including financial
statements) required by law, by the rules of any national securities
exchange upon which the Stock, the Depositary Shares or the Receipts are listed
or by the Certificate of Incorporation or the applicable Certificate of
Designation to be furnished by the Company to holders of Stock. The Depositary,
acting as transfer agent and Registrar, shall keep books at the Corporate
Office for the registration and transfer of Receipts, which books at all
reasonable times shall be open for inspection by the record holders of
Receipts; provided that any such holder requesting to exercise such right shall
certify to the Depositary that such inspection shall be for a proper purpose
reasonably related to such person’s interest as an owner of Depositary Shares.

18.   Liability
of the Depositary, the Depositary’s Agents, the Registrar and the Company.   Neither
the Depositary nor any Depositary’s Agent nor the Registrar nor the Company
shall incur any liability to any holder of this Receipt, if by reason of any
provision of 

 A-8
 

 

any present or future law or regulation thereunder of
any governmental authority or of any provision, present or future, of the Certificate
of Incorporation or the applicable Certificate of Designation or by reason of
any act of god or war or other circumstances beyond the control of the relevant
party, the Depositary, any Depositary’s Agent, the Registrar or the Company
shall be prevented or forbidden from doing or performing any act or thing that
the terms of the Deposit Agreement provide shall be done or performed; nor
shall the Depositary, any Depositary’s Agent, the Registrar or the Company
incur any liability to any holder of this Receipt (i) by reason of any
nonperformance or delay, caused as aforesaid, in the performance of any act or
thing that the terms of the Deposit Agreement provide shall or may be done or
performed or (ii) by reason of any exercise of, or failure to exercise,
any discretion provided for in the Deposit Agreement except, in the case of the
Depositary, any Depositary’s Agent or the Registrar, if such exercise or
failure to exercise discretion is caused by its negligence or willful
misconduct.

19.   Obligations
of the Depositary, the Depositary’s Agent, the Registrar and the Company.   The
Company assumes no obligation and shall be subject to no liability under the
Deposit Agreement or this Receipt to the holder hereof or other persons, except
to perform its obligations as are specifically set forth and undertaken by it
to perform in the Deposit Agreement without negligence or bad faith. Each of
the Depositary, the Depositary’s Agents and the Registrar assumes no obligation
and shall be subject to no liability under the Deposit Agreement or this
Receipt to the holder hereof or other persons, except to perform such
obligations as are specifically set forth and undertaken by it to perform in
the Deposit Agreement without negligence or willful misconduct.

Neither the Depositary nor any Depositary’s Agent nor
the Registrar nor the Company shall be liable for any action or failure to act
by it in reliance upon the advice of or information from legal counsel,
accountants, any person presenting Stock for deposit, any holder of this
Receipt or any other person believed by it in good faith to be competent to
give such advice or information.

20.   Termination
of Deposit Agreement.   The Deposit Agreement may be
terminated only if (i) all of the outstanding Depositary Shares have been
redeemed or converted for any other securities into which the Stock is
convertible or (ii) there has been a final distribution of the Stock to
the holders of Receipts in connection with the Company’s liquidation,
dissolution or winding up. The Depositary will mail notice of such termination
to the record holders of all Receipts then outstanding at least 30 days prior
to the date fixed in such notice for such termination. Upon the termination of
the Deposit Agreement, the Company shall be discharged from all obligations
thereunder except for its obligations to the Depositary, any Depositary’s Agent
and any Registrar under Sections 5.7 and 5.8 of the Deposit Agreement.

If any Receipts remain outstanding after the date of
termination of the Deposit Agreement, the Depositary thereafter shall
discontinue all functions and be discharged from all obligations as provided in
the Deposit Agreement, except as specifically provided therein.

21.   Governing
Law.   The Deposit Agreement and this Receipt and all
rights thereunder and hereunder and provisions thereof and hereof shall be
governed by, and construed 

 A-9
 

 

in accordance with, the law of the State of New York
without giving effect to principles of conflict of laws.

 A-10

 

FORM OF
ASSIGNMENT

FOR VALUE RECEIVED,
the undersigned hereby sells, assigns and transfers unto                             
the within Receipt and all rights and interests represented by the Depositary
Shares evidenced thereby, and hereby irrevocably constitutes and appoints                             
attorney, to transfer the same on the books of the within-named Depositary,
with full power of substitution in the premises.

	
  Dated:

  	
   

  	
   

  	
  Signature:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  NOTE:  The
  signature to this assignment must correspond with the name as written upon
  the face of the Receipt in every particular, without alteration or
  enlargement, or any change whatever.EXHIBIT
4.7

ALLOS
THERAPEUTICS, INC.

Issuer

AND

[TRUSTEE]

Trustee

INDENTURE

Dated as of [·], 200 

Senior Debt Securities

 

TABLE OF
CONTENTS

	
   

  	
   

  	
   

  
	
  ARTICLE 1 DEFINITIONS

  	
   

  	
   

  
	
  Section 1.01
  Definitions of Terms

  	
   

  	
   

  
	
  ARTICLE 2 ISSUE,
  DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE OF SECURITIES

  	
   

  	
   

  
	
  Section 2.01
  Designation and Terms of Securities

  	
   

  	
   

  
	
  Section 2.02
  Form of Securities and Trustee’s Certificate

  	
   

  	
   

  
	
  Section 2.03
  Denominations: Provisions for Payment

  	
   

  	
   

  
	
  Section 2.04
  Execution and Authentication

  	
   

  	
   

  
	
  Section 2.05
  Registration of Transfer and Exchange

  	
   

  	
   

  
	
  Section 2.06
  Temporary Securities

  	
   

  	
   

  
	
  Section 2.07
  Mutilated, Destroyed, Lost or Stolen Securities

  	
   

  	
   

  
	
  Section 2.08
  Cancellation

  	
   

  	
   

  
	
  Section 2.09
  Benefits of Indenture

  	
   

  	
   

  
	
  Section 2.10
  Authenticating Agent

  	
   

  	
   

  
	
  Section 2.11
  Global Securities

  	
   

  	
   

  
	
  ARTICLE 3 REDEMPTION OF
  SECURITIES AND SINKING FUND PROVISIONS

  	
   

  	
   

  
	
  Section 3.01
  Redemption

  	
   

  	
   

  
	
  Section 3.02
  Notice of Redemption

  	
   

  	
   

  
	
  Section 3.03
  Payment Upon Redemption

  	
   

  	
   

  
	
  Section 3.04
  Sinking Fund

  	
   

  	
   

  
	
  Section 3.05
  Satisfaction of Sinking Fund Payments with Securities

  	
   

  	
   

  
	
  Section 3.06
  Redemption of Securities for Sinking Fund

  	
   

  	
   

  
	
  ARTICLE 4 COVENANTS

  	
   

  	
   

  
	
  Section 4.01
  Payment of Principal, Premium and Interest

  	
   

  	
   

  
	
  Section 4.02 Maintenance
  of Office or Agency

  	
   

  	
   

  
	
  Section 4.03
  Paying Agents

  	
   

  	
   

  
	
  Section 4.04
  Appointment to Fill Vacancy in Office of Trustee

  	
   

  	
   

  
	
  Section 4.05
  Compliance with Consolidation Provisions

  	
   

  	
   

  
	
  ARTICLE 5
  SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE

  	
   

  	
   

  

 

 i
 

 

 

	
  Section 5.01 Company to
  Furnish Trustee Names and Addresses of Securityholders

  	
   

  	
   

  
	
  Section 5.02
  Preservation Of Information; Communications With Securityholders

  	
   

  	
   

  
	
  Section 5.03
  Reports by the Company

  	
   

  	
   

  
	
  Section 5.04
  Reports by the Trustee

  	
   

  	
   

  
	
  ARTICLE 6 REMEDIES OF
  THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT

  	
   

  	
   

  
	
  Section 6.01
  Events of Default

  	
   

  	
   

  
	
  Section 6.02
  Collection of Indebtedness and Suits for Enforcement by Trustee

  	
   

  	
   

  
	
  Section 6.03
  Application of Moneys or Property Collected.

  	
   

  	
   

  
	
  Section 6.04
  Limitation on Suits

  	
   

  	
   

  
	
  Section 6.05
  Rights and Remedies Cumulative; Delay or Omission Not Waiver

  	
   

  	
   

  
	
  Section 6.06
  Control by Securityholders

  	
   

  	
   

  
	
  Section 6.07
  Undertaking to Pay Costs

  	
   

  	
   

  
	
  ARTICLE 7 CONCERNING
  THE TRUSTEE

  	
   

  	
   

  
	
  Section 7.01
  Certain Duties and Responsibilities of Trustee

  	
   

  	
   

  
	
  Section 7.02
  Certain Rights of Trustee

  	
   

  	
   

  
	
  Section 7.03
  Trustee Not Responsible for Recitals or Issuance or Securities

  	
   

  	
   

  
	
  Section 7.04
  May Hold Securities

  	
   

  	
   

  
	
  Section 7.05
  Moneys Held in Trust

  	
   

  	
   

  
	
  Section 7.06
  Compensation and Reimbursement

  	
   

  	
   

  
	
  Section 7.07
  Reliance on Officers’ Certificate

  	
   

  	
   

  
	
  Section 7.08
  Disqualification; Conflicting Interests

  	
   

  	
   

  
	
  Section 7.09
  Corporate Trustee Required; Eligibility

  	
   

  	
   

  
	
  Section 7.10
  Resignation and Removal; Appointment of Successor

  	
   

  	
   

  
	
  Section 7.11
  Acceptance of Appointment By Successor

  	
   

  	
   

  
	
  Section 7.12
  Merger, Conversion, Consolidation or Succession to Business

  	
   

  	
   

  
	
  Section 7.13
  Preferential Collection of Claims Against the Company

  	
   

  	
   

  
	
  Section 7.14 Notice
  of Default

  	
   

  	
   

  
	
  ARTICLE 8 CONCERNING
  THE SECURITYHOLDERS

  	
   

  	
   

  
	
  Section 8.01
  Evidence of Action by Securityholders

  	
   

  	
   

  

 

 ii
 

 

 

	
  Section 8.02 Proof of
  Execution by Securityholders

  	
   

  	
   

  
	
  Section 8.03 Who
  May be Deemed Owners

  	
   

  	
   

  
	
  Section 8.04
  Certain Securities Owned by Company Disregarded

  	
   

  	
   

  
	
  Section 8.05
  Actions Binding on Future Securityholders

  	
   

  	
   

  
	
  ARTICLE 9 SUPPLEMENTAL
  INDENTURES

  	
   

  	
   

  
	
  Section 9.01
  Supplemental Indentures Without the Consent of Securityholders

  	
   

  	
   

  
	
  Section 9.02
  Supplemental Indentures With Consent of Securityholders

  	
   

  	
   

  
	
  Section 9.03
  Effect of Supplemental Indentures

  	
   

  	
   

  
	
  Section 9.04
  Securities Affected by Supplemental Indentures

  	
   

  	
   

  
	
  Section 9.05
  Execution of Supplemental Indentures

  	
   

  	
   

  
	
  ARTICLE 10 SUCCESSOR
  ENTITY

  	
   

  	
   

  
	
  Section 10.01
  Company May Consolidate, Etc.

  	
   

  	
   

  
	
  Section 10.02
  Successor Entity Substituted

  	
   

  	
   

  
	
  Section 10.03
  Evidence of Consolidation, Etc. to Trustee

  	
   

  	
   

  
	
  ARTICLE 11 SATISFACTION
  AND DISCHARGE

  	
   

  	
   

  
	
  Section 11.01
  Satisfaction and Discharge of Indenture

  	
   

  	
   

  
	
  Section 11.02
  Discharge of Obligations

  	
   

  	
   

  
	
  Section 11.03
  Deposited Moneys to be Held in Trust

  	
   

  	
   

  
	
  Section 11.04
  Payment of Moneys Held by Paying Agents

  	
   

  	
   

  
	
  Section 11.05
  Repayment to Company

  	
   

  	
   

  
	
  ARTICLE 12 IMMUNITY OF
  INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS

  	
   

  	
   

  
	
  Section 12.01 No
  Recourse

  	
   

  	
   

  
	
  ARTICLE 13
  MISCELLANEOUS PROVISIONS

  	
   

  	
   

  
	
  Section 13.01
  Effect on Successors and Assigns

  	
   

  	
   

  
	
  Section 13.02
  Actions by Successor

  	
   

  	
   

  
	
  Section 13.03
  Surrender of Company Powers

  	
   

  	
   

  
	
  Section 13.04
  Notices

  	
   

  	
   

  
	
  Section 13.05
  Governing Law

  	
   

  	
   

  
	
  Section 13.06
  Treatment of Securities as Debt

  	
   

  	
   

  

 

 iii
 

 

 

	
  Section 13.07
  Compliance Certificates and Opinions

  	
   

  	
   

  
	
  Section 13.08
  Payments on Business Days

  	
   

  	
   

  
	
  Section 13.09
  Conflict with Trust Indenture Act

  	
   

  	
   

  
	
  Section 13.10
  Counterparts

  	
   

  	
   

  
	
  Section 13.11
  Separability

  	
   

  	
   

  
	
  Section 13.12 Compliance Certificates

  	
   

  	
   

  

(1)                                  This
Table of Contents does not constitute part of the Indenture and shall not have
any bearing on the interpretation of any of its terms or provisions.

 iv

 

 

INDENTURE

INDENTURE,
dated as of [·], 200 , among Allos Therapeutics, Inc., a
Delaware corporation (the “Company”), and [TRUSTEE], as trustee (the “Trustee”):

WHEREAS, for
its lawful corporate purposes, the Company has duly authorized the execution and
delivery of this Indenture to provide for the issuance of debt securities
(hereinafter referred to as the “Securities”), in an unlimited aggregate
principal amount to be issued from time to time in one or more series as in
this Indenture provided, as registered Securities without coupons, to be
authenticated by the certificate of the Trustee;

WHEREAS, to
provide the terms and conditions upon which the Securities are to be
authenticated, issued and delivered, the Company has duly authorized the
execution of this Indenture; and

WHEREAS, all
things necessary to make this Indenture a valid agreement of the Company, in
accordance with its terms, have been done.

NOW, THEREFORE,
in consideration of the premises and the purchase of the Securities by the
holders thereof, it is mutually covenanted and agreed as follows for the equal
and ratable benefit of the holders of Securities:

ARTICLE 1

DEFINITIONS

Section 1.01         Definitions
of Terms.

The terms defined in this Section (except as in
this Indenture or any indenture supplemental hereto otherwise expressly
provided or unless the context otherwise requires) for all purposes of this
Indenture and of any indenture supplemental hereto shall have the respective 

 1

 

meanings specified in this Section and shall
include the plural as well as the singular. All other terms used in this
Indenture that are defined in the Trust Indenture Act of 1939, as amended, or
that are by reference in such Act defined in the Securities Act of 1933, as
amended (except as herein or any indenture supplemental hereto otherwise
expressly provided or unless the context otherwise requires), shall have the
meanings assigned to such terms in said Trust Indenture Act and in said
Securities Act as in force at the date of the execution of this instrument.

“Authenticating
Agent” means an authenticating agent with respect to all or any
of the series of Securities appointed by the Trustee pursuant to Section 2.10.

“Bankruptcy
Law” means Title 11, U.S. Code, or any similar federal or state
law for the relief of debtors.

“Board
of Directors” means the Board of Directors of the Company or any
duly authorized committee of such Board.

“Board
Resolution” means a copy of a resolution certified by the
Secretary or an Assistant Secretary of the Company to have been duly adopted by
the Board of Directors and to be in full force and effect on the date of such
certification.

“Business
Day” means, with respect to any series of Securities, any day
other than a day on which federal or state banking institutions in the Borough of
Manhattan, the City of New York, or in the city of the Corporate Trust Office
of the Trustee, are authorized or obligated by law, executive order or
regulation to close.

“Certificate”
means a certificate signed by any Officer. The Certificate need not comply with
the provisions of Section 13.07.

“Company”
means Allos Therapeutics, Inc., a corporation duly organized and existing
under the laws of the State of Delaware, and, subject to the provisions of Article Ten,
shall also include its successors and assigns.

“Corporate
Trust Office” means the office of the Trustee at which, at any
particular time, its corporate trust business shall be principally
administered, which office at the date hereof is located at                                        .

“Custodian”
means any receiver, trustee, assignee, liquidator or similar official under any
Bankruptcy Law.

“Default”
means any event, act or condition that with notice or lapse of time, or both,
would constitute an Event of Default.

“Depositary”
means, with respect to Securities of any series for which the Company shall
determine that such Securities will be issued as a Global Security, The
Depository Trust Company, New York, New York, another clearing agency, or any
successor registered as a clearing agency under the Securities and Exchange Act
of 1934, as amended (the “Exchange

 2
 

 

Act”), or other applicable statute or regulation,
which, in each case, shall be designated by the Company pursuant to either Section 2.01
or 2.11.

“Event
of Default” means, with respect to Securities of a particular
series, any event specified in Section 6.01, continued for the period of
time, if any, therein designated.

“Global
Security” means, with respect to any series of Securities, a
Security executed by the Company and delivered by the Trustee to the Depositary
or pursuant to the Depositary’s instruction, all in accordance with the
Indenture, which shall be registered in the name of the Depositary or its
nominee.

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

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

“Indenture”
means this instrument as originally executed or as it may from time to time be
supplemented or amended by one or more indentures supplemental hereto entered
into in accordance with the terms hereof.

“Interest
Payment Date”, when used with respect to any installment of
interest on a Security of a particular series, means the date specified in such
Security or in a Board Resolution or in an indenture supplemental hereto with
respect to such series as the fixed date on which an installment of interest
with respect to Securities of that series is due and payable.

“Officer”
means, with respect to the Company, the chairman of the Board of Directors, a
chief executive officer, a president, a chief financial officer, chief
operating officer, any executive vice president, any senior vice president, any
vice president, the treasurer or any assistant treasurer, the controller or any
assistant controller or the secretary or any assistant secretary.

“Officers’
Certificate” means a certificate signed by any two Officers. Each
such certificate shall include the statements provided for in Section 13.07,
if and to the extent required by the provisions thereof.

 3
 

 

“Opinion
of Counsel” means an opinion in writing subject to customary
exceptions of legal counsel, who may be an employee of or counsel for the
Company, that is delivered to the Trustee in accordance with the terms hereof. Each
such opinion shall include the statements provided for in Section 13.07,
if and to the extent required by the provisions thereof.

“Outstanding”,
when used with reference to Securities of any series, means, subject to the
provisions of Section 8.04, as of any particular time, all Securities of
that series theretofore authenticated and delivered by the Trustee under this
Indenture, except (a) Securities theretofore canceled by the Trustee or
any paying agent, or delivered to the Trustee or any paying agent for
cancellation or that have previously been canceled; (b) Securities or
portions thereof for the payment or redemption of which moneys or Governmental
Obligations in the necessary amount shall have been deposited in trust with the
Trustee or with any paying agent (other than the Company) or shall have been set
aside and segregated in trust by the Company (if the Company shall act as its
own paying agent); provided, however, that if such Securities or portions of
such Securities are to be redeemed prior to the maturity thereof, notice of
such redemption shall have been given as in Article Three provided, or
provision satisfactory to the Trustee shall have been made for giving such
notice; and (c) Securities in lieu of or in substitution for which other
Securities shall have been authenticated and delivered pursuant to the terms of
Section 2.07.

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

“Predecessor
Security” of any particular Security means every previous
Security evidencing all or a portion of the same debt as that evidenced by such
particular Security; and, for the purposes of this definition, any Security
authenticated and delivered under Section 2.07 in lieu of a lost,
destroyed or stolen Security shall be deemed to evidence the same debt as the
lost, destroyed or stolen Security.

“Responsible
Officer” when used with respect to the Trustee means the
chairman of its board of directors, the chief executive officer, the president,
any vice president, the secretary, the treasurer, any trust officer, any
corporate trust officer or any other officer or assistant officer of the
Trustee customarily performing functions similar to those performed by the
Persons who at the time shall be such officers, respectively, or to whom any
corporate trust matter is referred because of his or her knowledge of and
familiarity with the particular subject.

“Securities”
means the debt Securities authenticated and delivered under this Indenture.

“Securityholder”,
“holder of Securities”, “registered holder”, or other similar term, means the
Person or Persons in whose name or names a particular Security shall be
registered on the books of the Company kept for that purpose in accordance with
the terms of this Indenture.

“Security
Register” and “Security Registrar” shall have the meanings as set forth
in Section 2.05.

 4
 

 

“Subsidiary”
means, with respect to any Person, (i) any corporation at least a majority
of whose outstanding Voting Stock shall at the time be owned, directly or
indirectly, by such Person or by one or more of its Subsidiaries or by such
Person and one or more of its Subsidiaries, (ii) any general partnership,
joint venture or similar entity, at least a majority of whose outstanding
partnership or similar interests shall at the time be owned by such Person, or
by one or more of its Subsidiaries, or by such Person and one or more of its
Subsidiaries and (iii) any limited partnership of which such Person or any
of its Subsidiaries is a general partner.

“Trustee”
means                          ,
and, subject to the provisions of Article Seven, shall also include its
successors and assigns, and, if at any time there is more than one Person
acting in such capacity hereunder, “Trustee” shall mean each such Person. The
term “Trustee” as used with respect to a particular series of the Securities
shall mean the trustee with respect to that series.

“Trust
Indenture Act” means the Trust Indenture Act of 1939, as
amended.

“Voting
Stock”, as applied to stock of any Person, means shares,
interests, participations or other equivalents in the equity interest (however
designated) in such Person having ordinary voting power for the election of a
majority of the directors (or the equivalent) of such Person, other than
shares, interests, participations or other equivalents having such power only
by reason of the occurrence of a contingency.

ARTICLE 2

ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE OF
SECURITIES

Section 2.01         Designation
and Terms of Securities.

(a)           The aggregate principal amount of
Securities that may be authenticated and delivered under this Indenture is
unlimited. The Securities may be issued in one or more series up to the
aggregate principal amount of Securities of that series from time to time
authorized by or pursuant to a Board Resolution or pursuant to one or more
indentures supplemental hereto. Prior to the initial issuance of Securities of
any series, there shall be established in or pursuant to a Board Resolution,
and set forth in an Officers’ Certificate, or established in one or more
indentures supplemental hereto:

(1)           the title of the Securities of the
series (which shall distinguish the Securities of that series from all other
Securities);

(2)           any limit upon the aggregate principal
amount of the Securities of that series that may be authenticated and delivered
under this Indenture (except for Securities authenticated and delivered upon
registration of transfer of, or in exchange for, or in lieu of, other
Securities of that series);

 5
 

 

(3)           the date or dates on which the principal
of the Securities of the series is payable, any original issue discount that
may apply to the Securities of that series upon their issuance, the principal
amount due at maturity, and the place(s) of payment;

(4)           the rate or rates at which the
Securities of the series shall bear interest or the manner of calculation of
such rate or rates, if any;

(5)           the date or dates from which such
interest shall accrue, the Interest Payment Dates on which such interest will
be payable or the manner of determination of such Interest Payment Dates, the
place(s) of payment, and the record date for the determination of holders
to whom interest is payable on any such Interest Payment Dates or the manner of
determination of such record dates;

(6)           the right, if any, to extend the
interest payment periods and the duration of such extension;

(7)           the period or periods within which, the
price or prices at which and the terms and conditions upon which Securities of
the series may be redeemed, in whole or in part, at the option of the Company;

(8)           the obligation, if any, of the Company
to redeem or purchase Securities of the series pursuant to any sinking fund,
mandatory redemption, or analogous provisions (including payments made in cash
in satisfaction of future sinking fund obligations) or at the option of a
holder thereof and the period or periods within which, the price or prices at
which, and the terms and conditions upon which, Securities of the series shall
be redeemed or purchased, in whole or in part, pursuant to such obligation;

(9)           the form of the
Securities of the series including the form of the Certificate of Authentication
for such series;

(10)         if other than
denominations of one thousand U.S. dollars ($1,000) or any integral multiple
thereof, the denominations in which the Securities of the series shall be
issuable;

(11)         any and all other
terms (including terms, to the extent applicable, relating to any auction or
remarketing of the Securities of that series and any security for the
obligations of the Company with respect to such Securities) with respect to
such series (which terms shall not be inconsistent with the terms of this
Indenture, as amended by any supplemental indenture) including any terms which
may be required by or advisable under United States laws or regulations or
advisable in connection with the marketing of Securities of that series;

(12)         whether the
Securities are issuable as a Global Security and, in such case, the terms and
the identity of the Depositary for such series;

(13)         whether the
Securities will be convertible into or exchangeable for shares of common stock
or other securities of the Company or any other Person and, if so, the terms
and conditions upon which such Securities will be so convertible or
exchangeable,

 6
 

 

including the conversion or exchange price, as
applicable, or how it will be calculated and may be adjusted, any mandatory or
optional (at the Company’s option or the holders’ option) conversion or
exchange features, and the applicable conversion or exchange period;

(14)         if other than the
principal amount thereof, the portion of the principal amount of Securities of
the series which shall be payable upon declaration of acceleration of the
maturity thereof pursuant to Section 6.01;

(15)         any additional or
different Events of Default or restrictive covenants (which may include, among
other restrictions, restrictions on the Company’s ability or the ability of the
Company’s Subsidiaries to:  incur
additional indebtedness; issue additional securities; create liens; pay
dividends or make distributions in respect of their capital stock; redeem
capital stock; place restrictions on such Subsidiaries placing restrictions on
their ability to pay dividends, make distributions or transfer assets; make
investments or other restricted payments; sell or otherwise dispose of assets;
enter into sale-leaseback transactions; engage in transactions with
stockholders and affiliates; issue or sell stock of their Subsidiaries; or
effect a consolidation or merger) or financial covenants (which may include,
among other financial covenants, financial covenants that require the Company
and its Subsidiaries to maintain specified interest coverage, fixed charge,
cash flow-based or asset-based ratios) provided for with respect to the
Securities of the series;

(16)         if other than
dollars, the coin or currency in which the Securities of the series are
denominated (including, but not limited to, foreign currency);

(17)         the terms and
conditions, if any, upon which the Company shall pay amounts in addition to the
stated interest, premium, if any and principal amounts of the Securities of the
series to any Securityholder that is not a “United States person” for federal
tax purposes; and

(18)         any restrictions on
transfer, sale or assignment of the Securities of the series.

All Securities of any one series shall be
substantially identical except as to denomination and except as may otherwise
be provided in or pursuant to any such Board Resolution or in any indentures
supplemental hereto.

If any of the terms of the series are established by
action taken pursuant to a Board Resolution of the Company, a copy of an
appropriate record of such action shall be certified by the secretary or an
assistant secretary of the Company and delivered to the Trustee at or prior to
the delivery of the Officers’ Certificate of the Company setting forth the
terms of the series.

Securities of any particular series may be issued at
various times, with different dates on which the principal or any installment
of principal is payable, with different rates of interest, if any, or different
methods by which rates of interest may be determined, with different dates on
which such interest may be payable and with different redemption dates.

 7
 

 

Section 2.02         Form of
Securities and Trustee’s Certificate.

The Securities of any series and the Trustee’s
certificate of authentication to be borne by such Securities shall be
substantially of the tenor and purport as set forth in one or more indentures
supplemental hereto or as provided in a Board Resolution, and set forth in an
Officers’ Certificate, and they may have such letters, numbers or other marks
of identification or designation and such legends or endorsements printed,
lithographed or engraved thereon as the Company may deem appropriate and as are
not inconsistent with the provisions of this Indenture, or as may be required
to comply with any law or with any rule or regulation made pursuant
thereto or with any rule or regulation of any securities exchange on which
Securities of that series may be listed, or to conform to usage.

Section 2.03         Denominations:
Provisions for Payment.

The Securities shall be issuable as registered
Securities and in the denominations of one thousand U.S. dollars ($1,000) or
any integral multiple thereof, subject to Section 2.01(a)(10). The
Securities of a particular series shall bear interest payable on the dates and
at the rate specified with respect to that series. Subject to Section 2.01(a)(16),
the principal of and the interest on the Securities of any series, as well as
any premium thereon in case of redemption thereof prior to maturity, shall be
payable in the coin or currency of the United States of America that at the
time is legal tender for public and private debt, at the office or agency of
the Company maintained for that purpose in the Borough of Manhattan, the City
and State of New York. Each Security shall be dated the date of its
authentication. Interest on the Securities shall be computed on the basis of a
360-day year composed of twelve 30-day months.

The interest installment on any Security that is
payable, and is punctually paid or duly provided for, on any Interest Payment
Date for Securities of that series shall be paid to the Person in whose name
said Security (or one or more Predecessor Securities) is registered at the
close of business on the regular record date for such interest installment. In
the event that any Security of a particular series or portion thereof is called
for redemption and the redemption date is subsequent to a regular record date
with respect to any Interest Payment Date and prior to such Interest Payment
Date, interest on such Security will be paid upon presentation and surrender of
such Security as provided in Section 3.03.

Any interest on any Security that is payable, but is
not punctually paid or duly provided for, on any Interest Payment Date for
Securities of the same series (herein called “Defaulted Interest”) shall
forthwith cease to be payable to the registered holder on the relevant regular
record date by virtue of having been such holder; and such Defaulted Interest
shall be paid by the Company, at its election, as provided in clause (1) or
clause (2) below:

(1)           The Company may make payment of any
Defaulted Interest on Securities to the Persons in whose names such Securities
(or their respective Predecessor Securities) are registered at the close of
business on a special record date for the payment of such Defaulted Interest,
which shall be fixed in the following manner: the Company shall notify the
Trustee in writing of the amount of Defaulted Interest proposed to be paid on
each such Security and the date of the proposed payment, and at the same time
the Company shall deposit with the Trustee an amount of money equal to the
aggregate amount proposed to be paid in respect of 

 8
 

 

such Defaulted Interest or shall make arrangements
satisfactory to the Trustee for such deposit prior to the date of the proposed
payment, such money when deposited to be held in trust for the benefit of the
Persons entitled to such Defaulted Interest as in this clause provided. Thereupon
the Trustee shall fix a special record date for the payment of such Defaulted
Interest which shall not be more than 15 nor less than 10 days prior to the
date of the proposed payment and not less than 10 days after the receipt by the
Trustee of the notice of the proposed payment. The Trustee shall promptly
notify the Company of such special record date and, in the name and at the
expense of the Company, shall cause notice of the proposed payment of such
Defaulted Interest and the special record date therefor to be mailed, first
class postage prepaid, to each Securityholder at his or her address as it
appears in the Security Register (as hereinafter defined), not less than 10
days prior to such special record date. Notice of the proposed payment of such
Defaulted Interest and the special record date therefor having been mailed as
aforesaid, such Defaulted Interest shall be paid to the Persons in whose names
such Securities (or their respective Predecessor Securities) are registered on
such special record date.

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

Unless otherwise set forth in a Board Resolution or
one or more indentures supplemental hereto establishing the terms of any series
of Securities pursuant to Section 2.01 hereof, the term “regular record
date” as used in this Section with respect to a series of Securities and
any Interest Payment Date for such series shall mean either the fifteenth day
of the month immediately preceding the month in which an Interest Payment Date
established for such series pursuant to Section 2.01 hereof shall occur,
if such Interest Payment Date is the first day of a month, or the first day of
the month in which an Interest Payment Date established for such series
pursuant to Section 2.01 hereof shall occur, if such Interest Payment Date
is the fifteenth day of a month, whether or not such date is a Business Day.

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

Section 2.04         Execution
and Authentication.

The Securities shall be signed on behalf of the
Company by one of its Officers. Signatures may be in the form of a manual or
facsimile signature.

The Company may use the facsimile signature of any
Person who shall have been an Officer, notwithstanding the fact that at the
time the Securities shall be authenticated and delivered or disposed of such
Person shall have ceased to be such an officer of the Company. The Securities
may contain such notations, legends or endorsements required by law, stock
exchange rule or usage. Each Security shall be dated the date of its
authentication by the Trustee.

 9
 

 

A Security shall not be valid until authenticated
manually by an authorized signatory of the Trustee, or by an Authenticating
Agent. Such signature shall be conclusive evidence that the Security so
authenticated has been duly authenticated and delivered hereunder and that the
holder is entitled to the benefits of this Indenture. At any time and from time
to time after the execution and delivery of this Indenture, the Company may
deliver Securities of any series executed by the Company to the Trustee for
authentication, together with a written order of the Company for the
authentication and delivery of such Securities, signed by an Officer, and the
Trustee in accordance with such written order shall authenticate and deliver
such Securities.

In authenticating such Securities and accepting the
additional responsibilities under this Indenture in relation to such
Securities, the Trustee shall be entitled to receive, and (subject to Section 7.01)
shall be fully protected in relying upon, an Opinion of Counsel stating that
the form and terms thereof have been established in conformity with the
provisions of this Indenture.

The Trustee shall not be required to authenticate such
Securities if the issue of such Securities pursuant to this Indenture will
affect the Trustee’s own rights, duties or immunities under the Securities and
this Indenture or otherwise in a manner that is not reasonably acceptable to
the Trustee.

Section 2.05         Registration
of Transfer and Exchange.

(a)           Securities of any series may be
exchanged upon presentation thereof at the office or agency of the Company
designated for such purpose in the Borough of Manhattan, the City and State of
New York, for other Securities of such series of authorized denominations, and
for a like aggregate principal amount, upon payment of a sum sufficient to
cover any tax or other governmental charge in relation thereto, all as provided
in this Section. In respect of any Securities so surrendered for exchange, the
Company shall execute, the Trustee shall authenticate and such office or agency
shall deliver in exchange therefor the Security or Securities of the same
series that the Securityholder making the exchange shall be entitled to
receive, bearing numbers not contemporaneously outstanding.

(b)           The Company shall keep, or cause to be
kept, at its office or agency designated for such purpose in the Borough of
Manhattan, the City and State of New York, or such other location designated by
the Company, a register or registers (herein referred to as the “Security
Register”) in which, subject to such reasonable regulations as it may
prescribe, the Company shall register the Securities and the transfers of
Securities as in this Article provided and which at all reasonable times
shall be open for inspection by the Trustee. The registrar for the purpose of
registering Securities and transfer of Securities as herein provided shall be
appointed as authorized by Board Resolution (the “Security Registrar”).

Upon surrender for transfer of any Security at the
office or agency of the Company designated for such purpose, the Company shall
execute, the Trustee shall authenticate and such office or agency shall deliver
in the name of the transferee or transferees a new Security or Securities of
the same series as the Security presented for a like aggregate principal
amount.

All Securities presented or surrendered for exchange
or registration of transfer, as provided in this Section, shall be accompanied
(if so required by the Company or the Security

 10
 

 

Registrar) by a written instrument or instruments of
transfer, in form satisfactory to the Company or the Security Registrar, duly
executed by the registered holder or by such holder’s duly authorized attorney
in writing.

(c)           Except as provided pursuant to Section 2.01
pursuant to a Board Resolution, and set forth in an Officers’ Certificate, or
established in one or more indentures supplemental to this Indenture, no
service charge shall be made for any exchange or registration of transfer of
Securities, or issue of new Securities in case of partial redemption of any
series, but the Company may require payment of a sum sufficient to cover any
tax or other governmental charge in relation thereto, other than exchanges
pursuant to Section 2.06, Section 3.03(b) and Section 9.04
not involving any transfer.

(d)           The Company shall not be required (i) to
issue, exchange or register the transfer of any Securities during a period
beginning at the opening of business 15 days before the day of the mailing of a
notice of redemption of less than all the Outstanding Securities of the same
series and ending at the close of business on the day of such mailing, nor (ii) to
register the transfer of or exchange any Securities of any series or portions
thereof called for redemption, other than the unredeemed portion of any such
Securities being redeemed in part. The provisions of this Section 2.05
are, with respect to any Global Security, subject to Section 2.11 hereof.

Section 2.06         Temporary
Securities.

Pending the preparation of definitive Securities of
any series, the Company may execute, and the Trustee shall authenticate and
deliver, temporary Securities (printed, lithographed or typewritten) of any
authorized denomination. Such temporary Securities shall be substantially in
the form of the definitive Securities in lieu of which they are issued, but
with such omissions, insertions and variations as may be appropriate for
temporary Securities, all as may be determined by the Company. Every temporary
Security of any series shall be executed by the Company and be authenticated by
the Trustee upon the same conditions and in substantially the same manner, and
with like effect, as the definitive Securities of such series. Without
unnecessary delay the Company will execute and will furnish definitive
Securities of such series and thereupon any or all temporary Securities of such
series may be surrendered in exchange therefor (without charge to the holders),
at the office or agency of the Company designated for the purpose in the
Borough of Manhattan, the City and State of New York, and the Trustee shall
authenticate and such office or agency shall deliver in exchange for such
temporary Securities an equal aggregate principal amount of definitive
Securities of such series, unless the Company advises the Trustee to the effect
that definitive Securities need not be executed and furnished until further
notice from the Company. Until so exchanged, the temporary Securities of such
series shall be entitled to the same benefits under this Indenture as
definitive Securities of such series authenticated and delivered hereunder.

Section 2.07         Mutilated,
Destroyed, Lost or Stolen Securities.

In case any temporary or definitive Security shall
become mutilated or be destroyed, lost or stolen, the Company (subject to the
next succeeding sentence) shall execute, and upon the Company’s request the
Trustee (subject as aforesaid) shall authenticate and deliver, a new Security
of the same series, bearing a number not contemporaneously outstanding, in
exchange

 11
 

 

and substitution for the mutilated Security, or in
lieu of and in substitution for the Security so destroyed, lost or stolen. In
every case the applicant for a substituted Security shall furnish to the
Company and the Trustee such security or indemnity as may be required by them
to save each of them harmless, and, in every case of destruction, loss or
theft, the applicant shall also furnish to the Company and the Trustee evidence
to their satisfaction of the destruction, loss or theft of the applicant’s
Security and of the ownership thereof. The Trustee may authenticate any such
substituted Security and deliver the same upon the written request or
authorization of any officer of the Company. Upon the issuance of any
substituted Security, the Company may require the payment of a sum sufficient
to cover any tax or other governmental charge that may be imposed in relation
thereto and any other expenses (including the fees and expenses of the Trustee)
connected therewith.

In case any Security that has matured or is about to
mature shall become mutilated or be destroyed, lost or stolen, the Company may,
instead of issuing a substitute Security, pay or authorize the payment of the
same (without surrender thereof except in the case of a mutilated Security) if
the applicant for such payment shall furnish to the Company and the Trustee
such security or indemnity as they may require to save them harmless, and, in
case of destruction, loss or theft, evidence to the satisfaction of the Company
and the Trustee of the destruction, loss or theft of such Security and of the
ownership thereof.

Every replacement Security issued pursuant to the
provisions of this Section shall constitute an additional contractual
obligation of the Company whether or not the mutilated, destroyed, lost or
stolen Security shall be found at any time, or be enforceable by anyone, and
shall be entitled to all the benefits of this Indenture equally and
proportionately with any and all other Securities of the same series duly issued
hereunder. All Securities shall be held and owned upon the express condition
that the foregoing provisions are exclusive with respect to the replacement or
payment of mutilated, destroyed, lost or stolen Securities, and shall preclude
(to the extent lawful) any and all other rights or remedies, notwithstanding
any law or statute existing or hereafter enacted to the contrary with respect
to the replacement or payment of negotiable instruments or other securities
without their surrender.

Section 2.08         Cancellation.

All Securities surrendered for the purpose of payment,
redemption, exchange or registration of transfer shall, if surrendered to the
Company or any paying agent, be delivered to the Trustee for cancellation, or,
if surrendered to the Trustee, shall be cancelled by it, and no Securities
shall be issued in lieu thereof except as expressly required or permitted by
any of the provisions of this Indenture. In the absence of such request the
Trustee may dispose of canceled Securities in accordance with its standard
procedures and deliver a certificate of disposition to the Company. If the
Company shall otherwise acquire any of the Securities, however, such
acquisition shall not operate as a redemption or satisfaction of the
indebtedness represented by such Securities unless and until the same are
delivered to the Trustee for cancellation.

Section 2.09         Benefits
of Indenture.

Nothing in this Indenture or in the Securities,
express or implied, shall give or be construed to give to any Person, other
than the parties hereto and the holders of the Securities any

 12
 

 

legal or equitable right, remedy or claim under or in
respect of this Indenture, or under any covenant, condition or provision herein
contained; all such covenants, conditions and provisions being for the sole
benefit of the parties hereto and of the holders of the Securities.

Section 2.10         Authenticating
Agent.

So long as any of the Securities of any series remain
Outstanding there may be an Authenticating Agent for any or all such series of
Securities which the Trustee shall have the right to appoint. Said
Authenticating Agent shall be authorized to act on behalf of the Trustee to
authenticate Securities of such series issued upon exchange, transfer or
partial redemption thereof, and Securities so authenticated shall be entitled
to the benefits of this Indenture and shall be valid and obligatory for all
purposes as if authenticated by the Trustee hereunder. All references in this
Indenture to the authentication of Securities by the Trustee shall be deemed to
include authentication by an Authenticating Agent for such series. Each
Authenticating Agent shall be acceptable to the Company and shall be a
corporation that has a combined capital and surplus, as most recently reported
or determined by it, sufficient under the laws of any jurisdiction under which
it is organized or in which it is doing business to conduct a trust business,
and that is otherwise authorized under such laws to conduct such business and
is subject to supervision or examination by federal or state authorities. If at
any time any Authenticating Agent shall cease to be eligible in accordance with
these provisions, it shall resign immediately.

Any Authenticating Agent may at any time resign by
giving written notice of resignation to the Trustee and to the Company. The
Trustee may at any time (and upon request by the Company shall) terminate the
agency of any Authenticating Agent by giving written notice of termination to
such Authenticating Agent and to the Company. Upon resignation, termination or
cessation of eligibility of any Authenticating Agent, the Trustee may appoint
an eligible successor Authenticating Agent acceptable to the Company. Any
successor Authenticating Agent, upon acceptance of its appointment hereunder,
shall become vested with all the rights, powers and duties of its predecessor
hereunder as if originally named as an Authenticating Agent pursuant hereto.

Section 2.11         Global
Securities.

(a)           If the Company shall establish pursuant
to Section 2.01 that the Securities of a particular series are to be
issued as a Global Security, then the Company shall execute and the Trustee
shall, in accordance with Section 2.04, authenticate and deliver, a Global
Security that (i) shall represent, and shall be denominated in an amount
equal to the aggregate principal amount of, all of the Outstanding Securities
of such series, (ii) shall be registered in the name of the Depositary or
its nominee, (iii) shall be delivered by the Trustee to the Depositary or
pursuant to the Depositary’s instruction and (iv) shall bear a legend
substantially to the following effect: “Except as otherwise provided in Section 2.11
of the Indenture, this Security may be transferred, in whole but not in part,
only to another nominee of the Depositary or to a successor Depositary or to a
nominee of such successor Depositary.”

(b)           Notwithstanding the provisions of Section 2.05,
the Global Security of a series may be transferred, in whole but not in part
and in the manner provided in Section 2.05,

 13

 

only to another nominee of the Depositary for such series, or to a
successor Depositary for such series selected or approved by the Company or to
a nominee of such successor Depositary.

(c)           If at any time the Depositary for a
series of the Securities notifies the Company that it is unwilling or unable to
continue as Depositary for such series or if at any time the Depositary for
such series shall no longer be registered or in good standing under the
Exchange Act, or other applicable statute or regulation, and a successor
Depositary for such series is not appointed by the Company within 90 days after
the Company receives such notice or becomes aware of such condition, as the
case may be, or if an Event of Default has occurred and is continuing and the
Company has received a request from the Depositary, this Section 2.11
shall no longer be applicable to the Securities of such series and the Company
will execute, and subject to Section 2.04, the Trustee will authenticate
and deliver the Securities of such series in definitive registered form without
coupons, in authorized denominations, and in an aggregate principal amount
equal to the principal amount of the Global Security of such series in exchange
for such Global Security. In addition, the Company may at any time determine
that the Securities of any series shall no longer be represented by a Global
Security and that the provisions of this Section 2.11 shall no longer
apply to the Securities of such series. In such event the Company will execute
and, subject to Section 2.04, the Trustee, upon receipt of an Officers’
Certificate evidencing such determination by the Company, will authenticate and
deliver the Securities of such series in definitive registered form without
coupons, in authorized denominations, and in an aggregate principal amount
equal to the principal amount of the Global Security of such series in exchange
for such Global Security. Upon the exchange of the Global Security for such
Securities in definitive registered form without coupons, in authorized
denominations, the Global Security shall be canceled by the Trustee. Such
Securities in definitive registered form issued in exchange for the Global
Security pursuant to this Section 2.11(c) shall be registered in such
names and in such authorized denominations as the Depositary, pursuant to
instructions from its direct or indirect participants or otherwise, shall
instruct the Trustee. The Trustee shall deliver such Securities to the
Depositary for delivery to the Persons in whose names such Securities are so
registered.

ARTICLE 3

REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS

Section 3.01         Redemption.

The Company may redeem the Securities of any series
issued hereunder on and after the dates and in accordance with the terms
established for such series pursuant to Section 2.01 hereof.

Section 3.02         Notice
of Redemption.

(a)           In case the Company
shall desire to exercise such right to redeem all or, as the case may be, a
portion of the Securities of any series in accordance with any right the
Company reserved for itself to do so pursuant to Section 2.01 hereof, the
Company shall, or shall cause the Trustee to, give notice of such redemption to
holders of the Securities of such series to be redeemed by mailing, first class
postage prepaid, a notice of such redemption not less than 30 

 14
 

 

days and not more than 90 days before the date fixed
for redemption of that series to such holders at their last addresses as they
shall appear upon the Security Register, unless a shorter period is specified
in the Securities to be redeemed. Any notice that is mailed in the manner
herein provided shall be conclusively presumed to have been duly given, whether
or not the registered holder receives the notice. In any case, failure duly to
give such notice to the holder of any Security of any series designated for
redemption in whole or in part, or any defect in the notice, shall not affect
the validity of the proceedings for the redemption of any other Securities of
such series or any other series. In the case of any redemption of Securities
prior to the expiration of any restriction on such redemption provided in the
terms of such Securities or elsewhere in this Indenture, the Company shall
furnish the Trustee with an Officers’ Certificate evidencing compliance with
any such restriction.

Each such notice of redemption shall specify the date
fixed for redemption and the redemption price at which Securities of that
series are to be redeemed, and shall state that payment of the redemption price
of such Securities to be redeemed will be made at the office or agency of the
Company in the Borough of Manhattan, the City and State of New York, upon
presentation and surrender of such Securities, that interest accrued to the
date fixed for redemption will be paid as specified in said notice, that from
and after said date interest will cease to accrue and that the redemption is
for a sinking fund, if such is the case. If less than all the Securities of a
series are to be redeemed, the notice to the holders of Securities of that
series to be redeemed in part shall specify the particular Securities to be so
redeemed.

In case any Security is to be redeemed in part only,
the notice that relates to such Security shall state the portion of the
principal amount thereof to be redeemed, and shall state that on and after the
redemption date, upon surrender of such Security, a new Security or Securities
of such series in principal amount equal to the unredeemed portion thereof will
be issued.

(b)           If less than all the Securities of a
series are to be redeemed, the Company shall give the Trustee at least 45 days’
notice (unless a shorter notice shall be satisfactory to the Trustee) in
advance of the date fixed for redemption as to the aggregate principal amount
of Securities of the series to be redeemed, and thereupon the Trustee shall
select, by lot or in such other manner as it shall deem appropriate and fair in
its discretion and that may provide for the selection of a portion or portions
(equal to one thousand U.S. dollars ($1,000) or any integral multiple thereof)
of the principal amount of such Securities of a denomination larger than
$1,000, the Securities to be redeemed and shall thereafter promptly notify the
Company in writing of the numbers of the Securities to be redeemed, in whole or
in part. The Company may, if and whenever it shall so elect, by delivery of
instructions signed on its behalf by an Officer, instruct the Trustee or any
paying agent to call all or any part of the Securities of a particular series
for redemption and to give notice of redemption in the manner set forth in this
Section, such notice to be in the name of the Company or its own name as the
Trustee or such paying agent may deem advisable. In any case in which notice of
redemption is to be given by the Trustee or any such paying agent, the Company
shall deliver or cause to be delivered to, or permit to remain with, the
Trustee or such paying agent, as the case may be, such Security Register,
transfer books or other records, or suitable copies or extracts therefrom,
sufficient to enable the Trustee or such paying agent to give any notice by
mail that may be required under the provisions of this Section.

 15
 

 

Section 3.03         Payment
Upon Redemption.

(a)           If the giving of notice of redemption
shall have been completed as above provided, the Securities or portions of
Securities of the series to be redeemed specified in such notice shall become
due and payable on the date and at the place stated in such notice at the
applicable redemption price, together with interest accrued to the date fixed
for redemption and interest on such Securities or portions of Securities shall
cease to accrue on and after the date fixed for redemption, unless the Company
shall default in the payment of such redemption price and accrued interest with
respect to any such Security or portion thereof. On presentation and surrender
of such Securities on or after the date fixed for redemption at the place of
payment specified in the notice, said Securities shall be paid and redeemed at
the applicable redemption price for such series, together with interest accrued
thereon to the date fixed for redemption (but if the date fixed for redemption
is an interest payment date, the interest installment payable on such date
shall be payable to the registered holder at the close of business on the
applicable record date pursuant to Section 2.03).

(b)           Upon presentation of any Security of
such series that is to be redeemed in part only, the Company shall execute and
the Trustee shall authenticate and the office or agency where the Security is
presented shall deliver to the holder thereof, at the expense of the Company, a
new Security of the same series of authorized denominations in principal amount
equal to the unredeemed portion of the Security so presented.

Section 3.04         Sinking
Fund.

The provisions of Sections 3.04, 3.05 and 3.06 shall
be applicable to any sinking fund for the retirement of Securities of a series,
except as otherwise specified as contemplated by Section 2.01 for
Securities of such series.

The minimum amount of any sinking fund payment
provided for by the terms of Securities of any series is herein referred to as
a “mandatory sinking fund payment,” and any payment in excess of such minimum
amount provided for by the terms of Securities of any series is herein referred
to as an “optional sinking fund payment”. If provided for by the terms of
Securities of any series, the cash amount of any sinking fund payment may be
subject to reduction as provided in Section 3.05. Each sinking fund
payment shall be applied to the redemption of Securities of any series as
provided for by the terms of Securities of such series.

Section 3.05         Satisfaction
of Sinking Fund Payments with Securities.

The Company (i) may deliver Outstanding
Securities of a series and (ii) may apply as a credit Securities of a
series that have been redeemed either at the election of the Company pursuant
to the terms of such Securities or through the application of permitted
optional sinking fund payments pursuant to the terms of such Securities, in
each case in satisfaction of all or any part of any sinking fund payment with
respect to the Securities of such series required to be made pursuant to the
terms of such Securities as provided for by the terms of such series, provided
that such Securities have not been previously so credited. Such Securities
shall be received and credited for such purpose by the Trustee at the
redemption price specified in such Securities for 

 16
 

 

redemption through operation of the sinking fund and
the amount of such sinking fund payment shall be reduced accordingly.

Section 3.06         Redemption
of Securities for Sinking Fund.

Not less than 45 days prior to each sinking fund
payment date for any series of Securities (unless a shorter period shall be
satisfactory to the Trustee), the Company will deliver to the Trustee an
Officers’ Certificate specifying the amount of the next ensuing sinking fund
payment for that series pursuant to the terms of the series, the portion
thereof, if any, that is to be satisfied by delivering and crediting Securities
of that series pursuant to Section 3.05 and the basis for such credit and
will, together with such Officers’ Certificate, deliver to the Trustee any
Securities to be so delivered. Not less than 30 days before each such sinking
fund payment date the Trustee shall select the Securities to be redeemed upon
such sinking fund payment date in the manner specified in Section 3.02 and
cause notice of the redemption thereof to be given in the name of and at the
expense of the Company in the manner provided in Section 3.02. Such notice
having been duly given, the redemption of such Securities shall be made upon
the terms and in the manner stated in Section 3.03.

ARTICLE 4

COVENANTS

Section 4.01         Payment
of Principal, Premium and Interest.

The Company will duly and punctually pay or cause to
be paid the principal of (and premium, if any) and interest on the Securities
of that series at the time and place and in the manner provided herein and
established with respect to such Securities.

Section 4.02         Maintenance
of Office or Agency.

So long as any series of the Securities remain
Outstanding, the Company agrees to maintain an office or agency in the Borough
of Manhattan, the City and State of New York, with respect to each such series
and at such other location or locations as may be designated as provided in
this Section 4.02, where (i) Securities of that series may be
presented for payment, (ii) Securities of that series may be presented as
herein above authorized for registration of transfer and exchange, and (iii) notices
and demands to or upon the Company in respect of the Securities of that series
and this Indenture may be given or served, such designation to continue with
respect to such office or agency until the Company shall, by written notice
signed by any officer authorized to sign an Officers’ Certificate and delivered
to the Trustee, designate some other office or agency for such purposes or any
of them. If at any time the Company shall fail to maintain any such required
office or agency or shall fail to furnish the Trustee with the address thereof,
such presentations, notices and demands may be made or served at the Corporate
Trust Office of the Trustee, and the Company hereby appoints the Trustee as its
agent to receive all such presentations, notices and demands. The Company
initially appoints the Corporate Trust Office of the Trustee located in the
Borough of Manhattan, the City of New York as its paying agent with respect to
the Securities.

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Section 4.03         Paying
Agents.

(a)   If the Company shall
appoint one or more paying agents for all or any series of the Securities,
other than the Trustee, the Company will cause each such paying agent to
execute and deliver to the Trustee an instrument in which such agent shall
agree with the Trustee, subject to the provisions of this Section:

(1)           that it will hold all sums held by it as
such agent for the payment of the principal of (and premium, if any) or
interest on the Securities of that series (whether such sums have been paid to
it by the Company or by any other obligor of such Securities) in trust for the
benefit of the Persons entitled thereto;

(2)           that it will give the Trustee notice of
any failure by the Company (or by any other obligor of such Securities) to make
any payment of the principal of (and premium, if any) or interest on the
Securities of that series when the same shall be due and payable;

(3)           that it will, at any time during the
continuance of any failure referred to in the preceding paragraph (a)(2) above,
upon the written request of the Trustee, forthwith pay to the Trustee all sums
so held in trust by such paying agent; and

(4)           that it will perform all other duties of
paying agent as set forth in this Indenture.

(b)           If the Company shall act as its own
paying agent with respect to any series of the Securities, it will on or before
each due date of the principal of (and premium, if any) or interest on
Securities of that series, set aside, segregate and hold in trust for the
benefit of the Persons entitled thereto a sum sufficient to pay such principal
(and premium, if any) or interest so becoming due on Securities of that series
until such sums shall be paid to such Persons or otherwise disposed of as
herein provided and will promptly notify the Trustee of such action, or any
failure (by it or any other obligor on such Securities) to take such action. Whenever
the Company shall have one or more paying agents for any series of Securities,
it will, prior to each due date of the principal of (and premium, if any) or
interest on any Securities of that series, deposit with the paying agent a sum
sufficient to pay the principal (and premium, if any) or interest so becoming
due, such sum to be held in trust for the benefit of the Persons entitled to
such principal, premium or interest, and (unless such paying agent is the
Trustee) the Company will promptly notify the Trustee of this action or failure
so to act.

(c)           Notwithstanding anything in this Section to
the contrary, (i) the agreement to hold sums in trust as provided in this Section is
subject to the provisions of Section 11.05, and (ii) the Company may
at any time, for the purpose of obtaining the satisfaction and discharge of
this Indenture or for any other purpose, pay, or direct any paying agent to
pay, to the Trustee all sums held in trust by the Company or such paying agent,
such sums to be held by the Trustee upon the same terms and conditions as those
upon which such sums were held by the Company or such paying agent; and, upon
such payment by the Company or any paying agent to the Trustee, the Company or
such paying agent shall be released from all further liability with respect to
such money.

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Section 4.04         Appointment
to Fill Vacancy in Office of Trustee.

The Company, whenever necessary to avoid or fill a
vacancy in the office of Trustee, will appoint, in the manner provided in Section 7.10,
a Trustee, so that there shall at all times be a Trustee hereunder.

Section 4.05         Compliance
with Consolidation Provisions.

The Company will not, while any of the Securities
remain Outstanding, consolidate with or merge into any other Person, in either
case where the Company is not the survivor of such transaction, or sell or
convey all or substantially all of its property to any other Person unless the
provisions of Article Ten hereof are complied with.

ARTICLE 5

SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE

Section 5.01         Company
to Furnish Trustee Names and Addresses of Securityholders.

The Company will furnish or cause to be furnished to
the Trustee (a) within 15 days after each regular record date (as defined
in Section 2.03) a list, in such form as the Trustee may reasonably
require, of the names and addresses of the holders of each series of Securities
as of such regular record date, provided that the Company shall not be
obligated to furnish or cause to furnish such list at any time that the list
shall not differ in any respect from the most recent list furnished to the
Trustee by the Company and (b) at such other times as the Trustee may
request in writing within 30 days after the receipt by the Company of any such
request, a list of similar form and content as of a date not more than 15 days
prior to the time such list is furnished; provided, however, that, in either
case, no such list need be furnished for any series for which the Trustee shall
be the Security Registrar .

Section 5.02         Preservation
Of Information; Communications With Securityholders.

(a)           The Trustee shall preserve, in as
current a form as is reasonably practicable, all information as to the names
and addresses of the holders of Securities contained in the most recent list
furnished to it as provided in Section 5.01 and as to the names and
addresses of holders of Securities received by the Trustee in its capacity as
Security Registrar (if acting in such capacity).

(b)           The Trustee may destroy any list
furnished to it as provided in Section 5.01 upon receipt of a new list so
furnished.

(c)           Securityholders may communicate as
provided in Section 312(b) of the Trust Indenture Act with other
Securityholders with respect to their rights under this Indenture or under the
Securities, and, in connection with any such communications, the Trustee shall
satisfy 

 19
 

 

its obligations under Section 312(b) of the
Trust Indenture Act in accordance with the provisions of Section 312(b) of
the Trust Indenture Act.

Section 5.03         Reports
by the Company.

The Company covenants and agrees to provide a copy to
the Trustee, after the Company files the same with the Securities and Exchange
Commission, copies of the annual reports and of the information, documents and
other reports (or copies of such portions of any of the foregoing as the
Securities and Exchange Commission may from time to time by rules and
regulations prescribe) that the Company files with the Securities and Exchange
Commission pursuant to Section 13 or Section 15(d) of the
Exchange Act; provided, however, the Company shall not be required to deliver
to the Trustee any materials for which the Company has sought and received
confidential treatment by the SEC. The Company shall also comply with the
requirements of Section 314 of the Trust Indenture Act, but only to the
extent then applicable to the Company.

Section 5.04         Reports
by the Trustee.

(a)           On or before July 1 in each year in
which any of the Securities are Outstanding, the Trustee shall transmit by mail,
first class postage prepaid, to the Securityholders, as their names and
addresses appear upon the Security Register, a brief report dated as of the
preceding May 1, if and to the extent required under Section 313(a) of
the Trust Indenture Act.

(b)           The Trustee shall comply with Section 313(b) and
313(c) of the Trust Indenture Act.

(c)           A copy of each such report shall, at the
time of such transmission to Securityholders, be filed by the Trustee with the
Company, with each securities exchange upon which any Securities are listed (if
so listed) and also with the Securities and Exchange Commission. The Company
agrees to notify the Trustee when any Securities become listed on any
securities exchange.

ARTICLE 6

REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT

Section 6.01         Events
of Default.

(a)           Whenever used herein with respect to
Securities of a particular series, “Event of Default” means any one or more of
the following events that has occurred and is continuing:

(1)           the Company defaults in the payment of
any installment of interest upon any of the Securities of that series, as and
when the same shall become due and payable, and such default continues for a
period of 90 days; provided, however, that a valid extension of

 20
 

 

an interest payment period by the Company in
accordance with the terms of any indenture supplemental hereto shall not
constitute a default in the payment of interest for this purpose;

(2)           the Company defaults in the payment of
the principal of (or premium, if any, on) any of the Securities of that series
as and when the same shall become due and payable whether at maturity, upon
redemption, by declaration or otherwise, or in any payment required by any
sinking or analogous fund established with respect to that series; provided, however,
that a valid extension of the maturity of such Securities in accordance with
the terms of any indenture supplemental hereto shall not constitute a default
in the payment of principal or premium, if any;

(3)           the Company fails to observe or perform any
other of its covenants or agreements with respect to that series contained in
this Indenture or otherwise established with respect to that series of
Securities pursuant to Section 2.01 hereof (other than a covenant or
agreement that has been expressly included in this Indenture solely for the
benefit of one or more series of Securities other than such series) for a
period of 90 days after the date on which written notice of such failure,
requiring the same to be remedied and stating that such notice is a “Notice of
Default” hereunder, shall have been given to the Company by the Trustee, by
registered or certified mail, or to the Company and the Trustee by the holders
of at least 25% in principal amount of the Securities of that series at the
time Outstanding;

(4)           the Company pursuant to or within the
meaning of any Bankruptcy Law (i) commences a voluntary case, (ii) consents
to the entry of an order for relief against it in an involuntary case, (iii) consents
to the appointment of a Custodian of it or for all or substantially all of its
property or (iv) makes a general assignment for the benefit of its
creditors; or

(5)           a court of competent jurisdiction enters
an order under any Bankruptcy Law that (i) is for relief against the
Company in an involuntary case, (ii) appoints a Custodian of the Company
for all or substantially all of its property or (iii) orders the
liquidation of the Company, and the order or decree remains unstayed and in
effect for 90 days.

(b)           In each and every such case (other than
an Event of Default specified in clause (4) or clause (5) above),
unless the principal of all the Securities of that series shall have already
become due and payable, either the Trustee or the holders of not less than 25%
in aggregate principal amount of the Securities of that series then Outstanding
hereunder, by notice in writing to the Company (and to the Trustee if given by
such Securityholders), may declare the principal of (and premium, if any, on)
and accrued and unpaid interest on all the Securities of that series to be due
and payable immediately, and upon any such declaration the same shall become
and shall be immediately due and payable. If an Event of Default specified in
clause (4) or clause (5) above occurs, the principal of and accrued
and unpaid interest on all the Securities of that series shall automatically be
immediately due and payable without any declaration or other act on the part of
the Trustee or the holders of the Securities.

(c)           At any time after the principal of (and
premium, if any, on) and accrued and unpaid interest on the Securities of that
series shall have been so declared due and payable, and before any judgment or
decree for the payment of the moneys due shall have been obtained 

 21
 

 

or entered as hereinafter provided, the holders of a
majority in aggregate principal amount of the Securities of that series then
Outstanding hereunder, by written notice to the Company and the Trustee, may
rescind and annul such declaration and its consequences if: (i) the
Company has paid or deposited with the Trustee a sum sufficient to pay all
matured installments of interest upon all the Securities of that series and the
principal of (and premium, if any, on) any and all Securities of that series
that shall have become due otherwise than by acceleration (with interest upon
such principal and premium, if any, and, to the extent that such payment is
enforceable under applicable law, upon overdue installments of interest, at the
rate per annum expressed in the Securities of that series to the date of such
payment or deposit) and the amount payable to the Trustee under Section 7.06,
and (ii) any and all Events of Default under the Indenture with respect to
such series, other than the nonpayment of principal on (and premium, if any,
on) and accrued and unpaid interest on Securities of that series that shall not
have become due by their terms, shall have been remedied or waived as provided
in Section 6.06.

No such rescission and annulment shall extend to or
shall affect any subsequent default or impair any right consequent thereon.

(d)           In case the Trustee shall have proceeded
to enforce any right with respect to Securities of that series under this
Indenture and such proceedings shall have been discontinued or abandoned
because of such rescission or annulment or for any other reason or shall have
been determined adversely to the Trustee, then and in every such case, subject
to any determination in such proceedings, the Company and the Trustee shall be
restored respectively to their former positions and rights hereunder, and all
rights, remedies and powers of the Company and the Trustee shall continue as
though no such proceedings had been taken.

Section 6.02         Collection
of Indebtedness and Suits for Enforcement by Trustee.

(a)           The Company covenants that (i) in
case it shall default in the payment of any installment of interest on any of
the Securities of a series, or in any payment required by any sinking or
analogous fund established with respect to that series as and when the same
shall have become due and payable, and such default shall have continued for a
period of 90 Business Days, or (ii) in case it shall default in the
payment of the principal of (or premium, if any, on) any of the Securities of a
series when the same shall have become due and payable, whether upon maturity
of the Securities of a series or upon redemption or upon declaration or
otherwise then, upon demand of the Trustee, the Company will pay to the
Trustee, for the benefit of the holders of the Securities of that series, the
whole amount that then shall have been become due and payable on all such
Securities for principal (and premium, if any) or interest, or both, as the
case may be, with interest upon the overdue principal (and premium, if any) and
(to the extent that payment of such interest is enforceable under applicable
law) upon overdue installments of interest at the rate per annum expressed in
the Securities of that series; and, in addition thereto, such further amount as
shall be sufficient to cover the costs and expenses of collection, and the
amount payable to the Trustee under Section 7.06.

(b)           If the Company shall fail to pay such
amounts forthwith upon such demand, the Trustee, in its own name and as trustee
of an express trust, shall be entitled and empowered to institute any action or
proceedings at law or in equity for the collection of the sums so due and
unpaid, and may prosecute any such action or proceeding to judgment or final

 22
 

 

decree, and may enforce any such judgment or final
decree against the Company or other obligor upon the Securities of that series
and collect the moneys adjudged or decreed to be payable in the manner provided
by law or equity out of the property of the Company or other obligor upon the
Securities of that series, wherever situated.

(c)           In case of any receivership, insolvency,
liquidation, bankruptcy, reorganization, readjustment, arrangement, composition
or judicial proceedings affecting the Company, or its creditors or property,
the Trustee shall have power to intervene in such proceedings and take any
action therein that may be permitted by the court and shall (except as may be
otherwise provided by law) be entitled to file such proofs of claim and other
papers and documents as may be necessary or advisable in order to have the
claims of the Trustee and of the holders of Securities of such series allowed
for the entire amount due and payable by the Company under the Indenture at the
date of institution of such proceedings and for any additional amount that may
become due and payable by the Company after such date, and to collect and
receive any moneys or other property payable or deliverable on any such claim,
and to distribute the same after the deduction of the amount payable to the
Trustee under Section 7.06; and any receiver, assignee or trustee in
bankruptcy or reorganization is hereby authorized by each of the holders of
Securities of such series to make such payments to the Trustee, and, in the
event that the Trustee shall consent to the making of such payments directly to
such Securityholders, to pay to the Trustee any amount due it under Section 7.06.

(d)           All rights of action and of asserting
claims under this Indenture, or under any of the terms established with respect
to Securities of that series, may be enforced by the Trustee without the possession
of any of such Securities, or the production thereof at any trial or other
proceeding relative thereto, and any such suit or proceeding instituted by the
Trustee shall be brought in its own name as trustee of an express trust, and
any recovery of judgment shall, after provision for payment to the Trustee of
any amounts due under Section 7.06, be for the ratable benefit of the
holders of the Securities of such series.

In case of an Event of Default hereunder, the Trustee
may in its discretion proceed to protect and enforce the rights vested in it by
this Indenture by such appropriate judicial proceedings as the Trustee shall
deem most effectual to protect and enforce any of such rights, either at law or
in equity or in bankruptcy or otherwise, whether for the specific enforcement
of any covenant or agreement contained in the Indenture or in aid of the
exercise of any power granted in this Indenture, or to enforce any other legal
or equitable right vested in the Trustee by this Indenture or by law.

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

Section 6.03         Application
of Moneys or Property Collected.

Any moneys or property collected by the Trustee
pursuant to this Article with respect to a particular series of Securities
shall be applied in the following order, at the date or dates fixed by

 23
 

 

the Trustee and, in case of the distribution of such
moneys or property on account of principal (or premium, if any) or interest,
upon presentation of the Securities of that series, and notation thereon of the
payment, if only partially paid, and upon surrender thereof if fully paid:

FIRST: To the payment of reasonable costs and expenses
of collection and of all amounts payable to the Trustee under Section 7.06;

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

THIRD: To the payment of the remainder, if any, to the
Company or any other Person lawfully entitled thereto as requested by the
Company.

Section 6.04         Limitation
on Suits.

No holder of any Security of any series shall have any
right by virtue or by availing of any provision of this Indenture to institute
any suit, action or proceeding in equity or at law upon or under or with
respect to this Indenture or for the appointment of a receiver or trustee, or
for any other remedy hereunder, unless (i) such holder previously shall
have given to the Trustee written notice of an Event of Default and of the
continuance thereof with respect to the Securities of such series specifying
such Event of Default, as hereinbefore provided; (ii) the holders of not
less than 25% in aggregate principal amount of the Securities of such series
then Outstanding shall have made written request upon the Trustee to institute
such action, suit or proceeding in its own name as Trustee hereunder; (iii) such
holder or holders shall have offered to the Trustee such reasonable indemnity
as it may require against the costs, expenses and liabilities to be incurred
therein or thereby; (iv) the Trustee for 90 days after its receipt of such
notice, request and offer of indemnity, shall have failed to institute any such
action, suit or proceeding and (v) during such 90 day period, the holders
of a majority in principal amount of the Securities of that series do not give
the Trustee a direction inconsistent with the request.

Notwithstanding anything contained herein to the
contrary or any other provisions of this Indenture, the right of any holder of
any Security to receive payment of the principal of (and premium, if any) and
interest on such Security, as therein provided, on or after the respective due
dates expressed in such Security (or in the case of redemption, on the redemption
date), or to institute suit for the enforcement of any such payment on or after
such respective dates or redemption date, shall not be impaired or affected
without the consent of such holder and by accepting a Security hereunder it is
expressly understood, intended and covenanted by the taker and holder of every
Security of such series with every other such taker and holder and the Trustee,
that no one or more holders of Securities of such series shall have any right
in any manner whatsoever by virtue or by availing of any provision of this
Indenture to affect, disturb or prejudice the rights of the holders of any
other of such Securities, or to obtain or seek to obtain priority over or
preference to any other such holder, or to enforce any right under this
Indenture, except in the manner herein provided and for the equal, ratable and
common benefit of all holders of Securities of such series. For the protection
and enforcement of the provisions of this

 24
 

 

Section, each and every Securityholder and the Trustee
shall be entitled to such relief as can be given either at law or in equity.

Section 6.05         Rights
and Remedies Cumulative; Delay or Omission Not Waiver.

(a)           Except as otherwise provided in Section 2.07,
all powers and remedies given by this Article to the Trustee or to the
Securityholders shall, to the extent permitted by law, be deemed cumulative and
not exclusive of any other powers and remedies available to the Trustee or the
holders of the Securities, by judicial proceedings or otherwise, to enforce the
performance or observance of the covenants and agreements contained in this
Indenture or otherwise established with respect to such Securities.

(b)           No delay or omission of the Trustee or
of any holder of any of the Securities to exercise any right or power accruing
upon any Event of Default occurring and continuing as aforesaid shall impair
any such right or power, or shall be construed to be a waiver of any such
default or an acquiescence therein; and, subject to the provisions of Section 6.04,
every power and remedy given by this Article or by law to the Trustee or
the Securityholders may be exercised from time to time, and as often as shall
be deemed expedient, by the Trustee or by the Securityholders.

Section 6.06         Control
by Securityholders.

The holders of a majority in aggregate principal
amount of the Securities of any series at the time Outstanding, determined in
accordance with Section 8.04, shall have the right to direct the time,
method and place of conducting any proceeding for any remedy available to the
Trustee, or exercising any trust or power conferred on the Trustee with respect
to such series; provided, however, that such direction shall not be in conflict
with any rule of law or with this Indenture. Subject to the provisions of Section 7.01,
the Trustee shall have the right to decline to follow any such direction if the
Trustee in good faith shall, by a Responsible Officer or officers of the
Trustee, determine that the proceeding so directed, subject to the Trustee’s
duties under the Trust Indenture Act, would involve the Trustee in personal
liability or might be unduly prejudicial to the Securityholders not involved in
the proceeding. The holders of a majority in aggregate principal amount of the
Securities of any series at the time Outstanding affected thereby, determined
in accordance with Section 8.04, may on behalf of the holders of all of
the Securities of such series waive any past default in the performance of any
of the covenants contained herein or established pursuant to Section 2.01
with respect to such series and its consequences, except a default in the
payment of the principal of, or premium, if any, or interest on, any of the
Securities of that series as and when the same shall become due by the terms of
such Securities otherwise than by acceleration (unless such default has been
cured and a sum sufficient to pay all matured installments of interest and
principal and any premium has been deposited with the Trustee (in accordance
with Section 6.01(c)). Upon any such waiver, the default covered thereby
shall be deemed to be cured for all purposes of this Indenture and the Company,
the Trustee and the holders of the Securities of such series shall be restored
to their former positions and rights hereunder, respectively; but no such
waiver shall extend to any subsequent or other default or impair any right
consequent thereon.

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Section 6.07         Undertaking
to Pay Costs.

All parties to this Indenture agree, and each holder
of any Securities by such holder’s acceptance thereof shall be deemed to have
agreed, that any court may in its discretion require, in any suit for the
enforcement of any right or remedy under this Indenture, or in any suit against
the Trustee for any action taken or omitted by it as Trustee, the filing by any
party litigant in such suit of an undertaking to pay the costs of such suit,
and that such court may in its discretion assess reasonable costs, including
reasonable attorneys’ fees, against any party litigant in such suit, having due
regard to the merits and good faith of the claims or defenses made by such
party litigant; but the provisions of this Section shall not apply to any
suit instituted by the Trustee, to any suit instituted by any Securityholder,
or group of Securityholders, holding more than 10% in aggregate principal
amount of the Outstanding Securities of any series, or to any suit instituted
by any Securityholder for the enforcement of the payment of the principal of
(or premium, if any) or interest on any Security of such series, on or after
the respective due dates expressed in such Security or established pursuant to
this Indenture.

ARTICLE 7

CONCERNING THE TRUSTEE

Section 7.01         Certain
Duties and Responsibilities of Trustee.

(a)           The Trustee, prior to the occurrence of
an Event of Default with respect to the Securities of a series and after the
curing of all Events of Default with respect to the Securities of that series
that may have occurred, shall undertake to perform with respect to the
Securities of such series such duties and only such duties as are specifically
set forth in this Indenture, and no implied covenants shall be read into this
Indenture against the Trustee. In case an Event of Default with respect to the
Securities of a series has occurred (that has not been cured or waived), the
Trustee shall exercise with respect to Securities of that series such of the
rights and powers vested in it by this Indenture, and use the same degree of
care and skill in their exercise, as a prudent man would exercise or use under
the circumstances in the conduct of his own affairs.

(b)           No provision of this Indenture shall be
construed to relieve the Trustee from liability for its own negligent action,
its own negligent failure to act, or its own willful misconduct, except that:

(i)            prior to the
occurrence of an Event of Default with respect to the Securities of a series
and after the curing or waiving of all such Events of Default with respect to
that series that may have occurred:

(A)          the duties and obligations of the Trustee
shall with respect to the Securities of such series be determined solely by the
express provisions of this Indenture, and the Trustee shall not be liable with
respect to the Securities of such series except for the performance of such
duties and obligations as are specifically set forth in this Indenture, and no
implied covenants or obligations shall be read into this Indenture against the
Trustee; and

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(B)          in the absence of bad faith on the part
of the Trustee, the Trustee may with respect to the Securities of such series
conclusively rely, as to the truth of the statements and the correctness of the
opinions expressed therein, upon any certificates or opinions furnished to the
Trustee and conforming to the requirements of this Indenture; but in the case
of any such certificates or opinions that by any provision hereof are
specifically required to be furnished to the Trustee, the Trustee shall be
under a duty to examine the same to determine whether or not they conform to
the requirement of this Indenture;

(ii)           the Trustee shall
not be liable for any error of judgment made in good faith by a Responsible
Officer or Responsible Officers of the Trustee, unless it shall be proved that
the Trustee was negligent in ascertaining the pertinent facts;

(iii)         the Trustee shall not
be liable with respect to any action taken or omitted to be taken by it in good
faith in accordance with the direction of the holders of not less than a
majority in principal amount of the Securities of any series at the time
Outstanding relating to the time, method and place of conducting any proceeding
for any remedy available to the Trustee, or exercising any trust or power
conferred upon the Trustee under this Indenture with respect to the Securities
of that series; and

(iv)          None of the
provisions contained in this Indenture shall require the Trustee to expend or
risk its own funds or otherwise incur personal financial liability in the
performance of any of its duties or in the exercise of any of its rights or
powers if there is reasonable ground for believing that the repayment of such
funds or liability is not reasonably assured to it under the terms of this
Indenture or adequate indemnity against such risk is not reasonably assured to
it.

Section 7.02         Certain
Rights of Trustee.

Except as otherwise
provided in Section 7.01:

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

(b)           Any request, direction, order or demand
of the Company mentioned herein shall be sufficiently evidenced by a Board
Resolution or an instrument signed in the name of the Company by any authorized
officer of the Company (unless other evidence in respect thereof is
specifically prescribed herein);

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

(d)           The Trustee shall be under no obligation
to exercise any of the rights or powers vested in it by this Indenture at the
request, order or direction of any of the Securityholders pursuant to the
provisions of this Indenture, unless such Securityholders shall

 27
 

 

have offered to the Trustee reasonable security or
indemnity against the costs, expenses and liabilities that may be incurred
therein or thereby; nothing contained herein shall, however, relieve the
Trustee of the obligation, upon the occurrence of an Event of Default with
respect to a series of the Securities (that has not been cured or waived), to exercise
with respect to Securities of that series such of the rights and powers vested
in it by this Indenture, and to use the same degree of care and skill in their
exercise, as a prudent man would exercise or use under the circumstances in the
conduct of his own affairs;

(e)           The Trustee shall not be liable for any
action taken or omitted to be taken by it in good faith and believed by it to
be authorized or within the discretion or rights or powers conferred upon it by
this Indenture;

(f)            The Trustee shall not be bound to make
any investigation into the facts or matters stated in any resolution,
certificate, statement, instrument, opinion, report, notice, request, consent,
order, approval, bond, security, or other papers or documents, unless requested
in writing so to do by the holders of not less than a majority in principal
amount of the Outstanding Securities of the particular series affected thereby
(determined as provided in Section 8.04); provided, however, that if the
payment within a reasonable time to the Trustee of the costs, expenses or
liabilities likely to be incurred by it in the making of such investigation is,
in the opinion of the Trustee, not reasonably assured to the Trustee by the
security afforded to it by the terms of this Indenture, the Trustee may require
reasonable indemnity against such costs, expenses or liabilities as a condition
to so proceeding. The reasonable expense of every such examination shall be
paid by the Company or, if paid by the Trustee, shall be repaid by the Company upon
demand; and

(g)   The Trustee may execute any
of the trusts or powers hereunder or perform any duties hereunder either
directly or by or through agents or attorneys and the Trustee shall not be
responsible for any misconduct or negligence on the part of any agent or
attorney appointed with due care by it hereunder.

In addition, the Trustee shall not be deemed to have
knowledge of any Default or Event of Default except (1) any Event of
Default occurring pursuant to Sections 6.01(a)(1), 6.01(a)(2) and 4.01
hereof or (2) any Default or Event of Default of which the Trustee shall
have received written notification in the manner set forth in this Indenture or
a Responsible Officer of the Trustee shall have obtained actual knowledge. Delivery
of reports, information and documents to the Trustee under Section 5.03 is
for informational purposes only and the information and the Trustee’s receipt
of the foregoing shall not constitute constructive notice of any information
contained therein, or determinable from information contained therein including
the Company’s compliance with any of their covenants thereunder (as to which
the Trustee is entitled to rely conclusively on an Officers’ Certificate).

Section 7.03         Trustee
Not Responsible for Recitals or Issuance or Securities.

(a)           The recitals contained herein and in the
Securities shall be taken as the statements of the Company, and the Trustee
assumes no responsibility for the correctness of the same.

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(b)           The Trustee makes no representations as
to the validity or sufficiency of this Indenture or of the Securities.

(c)           The Trustee shall not be accountable for
the use or application by the Company of any of the Securities or of the
proceeds of such Securities, or for the use or application of any moneys paid
over by the Trustee in accordance with any provision of this Indenture or
established pursuant to Section 2.01, or for the use or application of any
moneys received by any paying agent other than the Trustee.

Section 7.04         May Hold
Securities.

The Trustee or any paying agent or Security Registrar,
in its individual or any other capacity, may become the owner or pledgee of
Securities with the same rights it would have if it were not Trustee, paying
agent or Security Registrar.

Section 7.05         Moneys
Held in Trust.

Subject to the provisions of Section 11.05, all
moneys received by the Trustee shall, until used or applied as herein provided,
be held in trust for the purposes for which they were received, but need not be
segregated from other funds except to the extent required by law. The Trustee
shall be under no liability for interest on any moneys received by it hereunder
except such as it may agree with the Company to pay thereon.

Section 7.06         Compensation
and Reimbursement.

(a)           The Company covenants and agrees to pay
to the Trustee, and the Trustee shall be entitled to, such reasonable
compensation (which shall not be limited by any provision of law in regard to
the compensation of a trustee of an express trust) as the Company and the
Trustee may from time to time agree in writing, for all services rendered by it
in the execution of the trusts hereby created and in the exercise and
performance of any of the powers and duties hereunder of the Trustee, and,
except as otherwise expressly provided herein, the Company will pay or
reimburse the Trustee upon its request for all reasonable expenses,
disbursements and advances incurred or made by the Trustee in accordance with
any of the provisions of this Indenture (including the reasonable compensation
and the expenses and disbursements of its counsel and of all Persons not
regularly in its employ), except any such expense, disbursement or advance as
may arise from its negligence or bad faith and except as the Company and
Trustee may from time to time agree in writing. The Company also covenants to
indemnify the Trustee (and its officers, agents, directors and employees) for,
and to hold it harmless against, any loss, liability or expense incurred
without negligence or bad faith on the part of the Trustee and arising out of
or in connection with the acceptance or administration of this trust, including
the reasonable costs and expenses of defending itself against any claim of
liability in the premises.

(b)           The obligations of the Company under
this Section to compensate and indemnify the Trustee and to pay or
reimburse the Trustee for reasonable expenses, disbursements and advances shall
constitute additional indebtedness hereunder. Such additional indebtedness
shall be secured by a lien prior to that of the Securities upon all property
and funds

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held or collected by the Trustee as such, except funds held in trust
for the benefit of the holders of particular Securities.

Section 7.07         Reliance
on Officers’ Certificate.

Except as otherwise provided in Section 7.01,
whenever in the administration of the provisions of this Indenture the Trustee
shall deem it reasonably necessary or desirable that a matter be proved or
established prior to taking or suffering or omitting to take any action
hereunder, such matter (unless other evidence in respect thereof be herein
specifically prescribed) may, in the absence of negligence or bad faith on the
part of the Trustee, be deemed to be conclusively proved and established by an
Officers’ Certificate delivered to the Trustee and such certificate, in the
absence of negligence or bad faith on the part of the Trustee, shall be full
warrant to the Trustee for any action taken, suffered or omitted to be taken by
it under the provisions of this Indenture upon the faith thereof.

Section 7.08         Disqualification;
Conflicting Interests.

If the Trustee has or shall acquire any “conflicting
interest” within the meaning of Section 310(b) of the Trust Indenture
Act, the Trustee and the Company shall in all respects comply with the
provisions of Section 310(b) of the Trust Indenture Act.

Section 7.09         Corporate
Trustee Required; Eligibility.

There shall at all times be a Trustee with respect to
the Securities issued hereunder which shall at all times be a corporation
organized and doing business under the laws of the United States of America or
any state or territory thereof or of the District of Columbia, or a corporation
or other Person permitted to act as trustee by the Securities and Exchange
Commission, authorized under such laws to exercise corporate trust powers,
having a combined capital and surplus of at least fifty million U.S. dollars
($50,000,000), and subject to supervision or examination by federal, state,
territorial, or District of Columbia authority.

If such corporation or other Person publishes reports
of condition at least annually, pursuant to law or to the requirements of the
aforesaid supervising or examining authority, then for the purposes of this
Section, the combined capital and surplus of such corporation or other Person
shall be deemed to be its combined capital and surplus as set forth in its most
recent report of condition so published. The Company may not, nor may any
Person directly or indirectly controlling, controlled by, or under common
control with the Company, serve as Trustee. In case at any time the Trustee
shall cease to be eligible in accordance with the provisions of this Section,
the Trustee shall resign immediately in the manner and with the effect
specified in Section 7.10.

Section 7.10         Resignation
and Removal; Appointment of Successor.

(a)           The Trustee or any successor hereafter
appointed may at any time resign with respect to the Securities of one or more
series by giving written notice thereof to the Company and by transmitting
notice of resignation by mail, first class postage prepaid, to the Securityholders
of such series, as their names and addresses appear upon the Security Register.

 30
 

 

Upon receiving such notice of resignation, the Company shall promptly
appoint a successor trustee with respect to Securities of such series by
written instrument, in duplicate, executed by order of the Board of Directors,
one copy of which instrument shall be delivered to the resigning Trustee and
one copy to the successor trustee. If no successor trustee shall have been so
appointed and have accepted appointment within 30 days after the mailing of
such notice of resignation, the resigning Trustee may petition any court of
competent jurisdiction for the appointment of a successor trustee with respect
to Securities of such series, or any Securityholder of that series who has been
a bona fide holder of a Security or Securities for at least six months may on
behalf of himself and all others similarly situated, petition any such court
for the appointment of a successor trustee. Such court may thereupon after such
notice, if any, as it may deem proper and prescribe, appoint a successor
trustee.

(b)           In case at any time any one of the
following shall occur:

(i)            the Trustee shall
fail to comply with the provisions of Section 7.08 after written request
therefor by the Company or by any Securityholder who has been a bona fide
holder of a Security or Securities for at least six months; or

(ii)           the Trustee shall
cease to be eligible in accordance with the provisions of Section 7.09 and
shall fail to resign after written request therefor by the Company or by any
such Securityholder; or

(iii)         the Trustee shall
become incapable of acting, or shall be adjudged a bankrupt or insolvent, or
commence a voluntary bankruptcy proceeding, or a receiver of the Trustee or of
its property shall be appointed or consented to, or any public officer shall
take charge or control of the Trustee or of its property or affairs for the
purpose of rehabilitation, conservation or liquidation;

then, in any such case, the Company may remove the
Trustee with respect to all Securities and appoint a successor trustee by
written instrument, in duplicate, executed by order of the Board of Directors,
one copy of which instrument shall be delivered to the Trustee so removed and
one copy to the successor trustee, or any Securityholder who has been a bona
fide holder of a Security or Securities for at least six months may, on behalf
of that holder and all others similarly situated, petition any court of
competent jurisdiction for the removal of the Trustee and the appointment of a
successor trustee. Such court may thereupon after such notice, if any, as it
may deem proper and prescribe, remove the Trustee and appoint a successor
trustee.

(c)           The holders of a majority in aggregate
principal amount of the Securities of any series at the time Outstanding may at
any time remove the Trustee with respect to such series by so notifying the
Trustee and the Company and may appoint a successor Trustee for such series
with the consent of the Company.

(d)           Any resignation or removal of the
Trustee and appointment of a successor trustee with respect to the Securities
of a series pursuant to any of the provisions of this Section shall become
effective upon acceptance of appointment by the successor trustee as provided
in Section 7.11.

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(e)           Any successor trustee appointed pursuant
to this Section may be appointed with respect to the Securities of one or
more series or all of such series, and at any time there shall be only one
Trustee with respect to the Securities of any particular series.

Section 7.11         Acceptance
of Appointment By Successor.

(a)           In case of the appointment hereunder of
a successor trustee with respect to all Securities, every such successor
trustee so appointed shall execute, acknowledge and deliver to the Company and
to the retiring Trustee an instrument accepting such appointment, and thereupon
the resignation or removal of the retiring Trustee shall become effective and
such successor trustee, without any further act, deed or conveyance, shall
become vested with all the rights, powers, trusts and duties of the retiring
Trustee; but, on the request of the Company or the successor trustee, such
retiring Trustee shall, upon payment of its charges, execute and deliver an
instrument transferring to such successor trustee all the rights, powers, and
trusts of the retiring Trustee and shall duly assign, transfer and deliver to
such successor trustee all property and money held by such retiring Trustee
hereunder.

(b)           In case of the appointment hereunder of
a successor trustee with respect to the Securities of one or more (but not all)
series, the Company, the retiring Trustee and each successor trustee with
respect to the Securities of one or more series shall execute and deliver an
indenture supplemental hereto wherein each successor trustee shall accept such
appointment and which (i) shall contain such provisions as shall be
necessary or desirable to transfer and confirm to, and to vest in, each
successor trustee all the rights, powers, trusts and duties of the retiring
Trustee with respect to the Securities of that or those series to which the
appointment of such successor trustee relates, (ii) shall contain such
provisions as shall be deemed necessary or desirable to confirm that all the
rights, powers, trusts and duties of the retiring Trustee with respect to the
Securities of that or those series as to which the retiring Trustee is not
retiring shall continue to be vested in the retiring Trustee, and (iii) shall
add to or change any of the provisions of this Indenture as shall be necessary
to provide for or facilitate the administration of the trusts hereunder by more
than one Trustee, it being understood that nothing herein or in such
supplemental indenture shall constitute such Trustees co-trustees of the same
trust, that each such Trustee shall be trustee of a trust or trusts hereunder
separate and apart from any trust or trusts hereunder administered by any other
such Trustee and that no Trustee shall be responsible for any act or failure to
act on the part of any other Trustee hereunder; and upon the execution and
delivery of such supplemental indenture the resignation or removal of the
retiring Trustee shall become effective to the extent provided therein, such
retiring Trustee shall with respect to the Securities of that or those series
to which the appointment of such successor trustee relates have no further
responsibility for the exercise of rights and powers or for the performance of
the duties and obligations vested in the Trustee under this Indenture, and each
such successor trustee, without any further act, deed or conveyance, shall
become vested with all the rights, powers, trusts and duties of the retiring
Trustee with respect to the Securities of that or those series to which the
appointment of such successor trustee relates; but, on request of the Company
or any successor trustee, such retiring Trustee shall duly assign, transfer and
deliver to such successor trustee, to the extent contemplated by such
supplemental indenture, the property and money held by such retiring Trustee
hereunder with respect to the Securities of that or those series to which the
appointment of such successor trustee relates.

 32
 

 

 

(c)           Upon request of any such successor
trustee, the Company shall execute any and all instruments for more fully and
certainly vesting in and confirming to such successor trustee all such rights,
powers and trusts referred to in paragraph (a) or (b) of this
Section, as the case may be.

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

(e)           Upon acceptance of appointment by a
successor trustee as provided in this Section, the Company shall transmit
notice of the succession of such trustee hereunder by mail, first class postage
prepaid, to the Securityholders, as their names and addresses appear upon the
Security Register. If the Company fails to transmit such notice within ten days
after acceptance of appointment by the successor trustee, the successor trustee
shall cause such notice to be transmitted at the expense of the Company.

Section 7.12         Merger,
Conversion, Consolidation or Succession to Business.

Any corporation into which the Trustee may be merged
or converted or with which it may be consolidated, or any corporation resulting
from any merger, conversion or consolidation to which the Trustee shall be a
party, or any corporation succeeding to the corporate trust business of the
Trustee, shall be the successor of the Trustee hereunder, provided that such corporation
shall be qualified under the provisions of Section 7.08 and eligible under
the provisions of Section 7.09, without the execution or filing of any
paper or any further act on the part of any of the parties hereto, anything
herein to the contrary notwithstanding. In case any Securities shall have been
authenticated, but not delivered, by the Trustee then in office, any successor
by merger, conversion or consolidation to such authenticating Trustee may adopt
such authentication and deliver the Securities so authenticated with the same
effect as if such successor Trustee had itself authenticated such Securities.

Section 7.13         Preferential
Collection of Claims Against the Company.

The Trustee shall comply with Section 311(a) of
the Trust Indenture Act, excluding any creditor relationship described in Section 311(b) of
the Trust Indenture Act. A Trustee who has resigned or been removed shall be
subject to Section 311(a) of the Trust Indenture Act to the extent
included therein.

Section 7.14         Notice of Default

If any Default or any Event of Default occurs and is
continuing and if such Default or Event of Default is known to a Responsible
Officer of the Trustee, the Trustee shall mail to each Securityholder in the
manner and to the extent provided in Section 313(c) of the Trust
Indenture Act notice of the Default or Event of Default within 45 days after it
occurs and becomes known to the Trustee, unless such Default or Event of
Default has been cured; provided, however,
that, except in the case of a default in the payment of the principal of (or
premium, if any) or interest on any Security, the Trustee shall be protected in
withholding such notice if and so long as the board of directors, the executive
committee or a trust committee of directors and/or Responsible 

 33
 

 

 

Officers of the Trustee in good faith determine that
the withholding of such notice is in the interest of the Securityholders.

ARTICLE 8

CONCERNING THE SECURITYHOLDERS

Section 8.01         Evidence
of Action by Securityholders.

Whenever in this Indenture it is provided that the
holders of a majority or specified percentage in aggregate principal amount of
the Securities of a particular series may take any action (including the making
of any demand or request, the giving of any notice, consent or waiver or the
taking of any other action), the fact that at the time of taking any such
action the holders of such majority or specified percentage of that series have
joined therein may be evidenced by any instrument or any number of instruments
of similar tenor executed by such holders of Securities of that series in
person or by agent or proxy appointed in writing.

If the Company shall solicit from the Securityholders
of any series any request, demand, authorization, direction, notice, consent,
waiver or other action, the Company may, at its option, as evidenced by an
Officers’ Certificate, fix in advance a record date for such series for the
determination of Securityholders entitled to give such request, demand,
authorization, direction, notice, consent, waiver or other action, but the
Company shall have no obligation to do so. If such a record date is fixed, such
request, demand, authorization, direction, notice, consent, waiver or other
action may be given before or after the record date, but only the
Securityholders of record at the close of business on the record date shall be
deemed to be Securityholders for the purposes of determining whether
Securityholders of the requisite proportion of Outstanding Securities of that
series have authorized or agreed or consented to such request, demand,
authorization, direction, notice, consent, waiver or other action, and for that
purpose the Outstanding Securities of that series shall be computed as of the
record date; provided, however, that no such authorization, agreement or
consent by such Securityholders on the record date shall be deemed effective
unless it shall become effective pursuant to the provisions of this Indenture
not later than six months after the record date.

Section 8.02         Proof
of Execution by Securityholders.

Subject to the provisions of Section 7.01, proof
of the execution of any instrument by a Securityholder (such proof will not
require notarization) or his agent or proxy and proof of the holding by any
Person of any of the Securities shall be sufficient if made in the following
manner:

(a)           The fact and date of the execution by
any such Person of any instrument may be proved in any reasonable manner
acceptable to the Trustee.

(b)           The ownership of Securities shall be
proved by the Security Register of such Securities or by a certificate of the
Security Registrar thereof.

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The Trustee may require such additional proof of any
matter referred to in this Section as it shall deem necessary.

Section 8.03         Who
May be Deemed Owners.

Prior to the due presentment for registration of
transfer of any Security, the Company, the Trustee, any paying agent and any
Security Registrar may deem and treat the Person in whose name such Security
shall be registered upon the books of the Company as the absolute owner of such
Security (whether or not such Security shall be overdue and notwithstanding any
notice of ownership or writing thereon made by anyone other than the Security
Registrar) for the purpose of receiving payment of or on account of the
principal of, premium, if any, and (subject to Section 2.03) interest on
such Security and for all other purposes; and neither the Company nor the
Trustee nor any paying agent nor any Security Registrar shall be affected by
any notice to the contrary.

Section 8.04         Certain
Securities Owned by Company Disregarded.

In determining whether the holders of the requisite
aggregate principal amount of Securities of a particular series have concurred
in any direction, consent or waiver under this Indenture, the Securities of
that series that are owned by the Company or any other obligor on the
Securities of that series or by any Person directly or indirectly controlling
or controlled by or under common control with the Company or any other obligor
on the Securities of that series shall be disregarded and deemed not to be
Outstanding for the purpose of any such determination, except that for the
purpose of determining whether the Trustee shall be protected in relying on any
such direction, consent or waiver, only Securities of such series that the Trustee
actually knows are so owned shall be so disregarded. The Securities so owned
that have been pledged in good faith may be regarded as Outstanding for the
purposes of this Section, if the pledgee shall establish to the satisfaction of
the Trustee the pledgee’s right so to act with respect to such Securities and
that the pledgee is not a Person directly or indirectly controlling or
controlled by or under direct or indirect common control with the Company or
any such other obligor. In case of a dispute as to such right, any decision by
the Trustee taken upon the advice of counsel shall be full protection to the
Trustee.

Section 8.05         Actions
Binding on Future Securityholders.

At any time prior to (but not after) the evidencing to
the Trustee, as provided in Section 8.01, of the taking of any action by
the holders of the majority or percentage in aggregate principal amount of the
Securities of a particular series specified in this Indenture in connection
with such action, any holder of a Security of that series that is shown by the
evidence to be included in the Securities the holders of which have consented
to such action may, by filing written notice with the Trustee, and upon proof
of holding as provided in Section 8.02, revoke such action so far as
concerns such Security. Except as aforesaid any such action taken by the holder
of any Security shall be conclusive and binding upon such holder and upon all
future holders and owners of such Security, and of any Security issued in
exchange therefor, on registration of transfer thereof or in place thereof,
irrespective of whether or not any notation in regard thereto is made upon such
Security. Any action taken by the holders of the majority or percentage in
aggregate principal amount of the Securities of a particular series specified
in this

 35
 

 

Indenture in connection with such action shall be
conclusively binding upon the Company, the Trustee and the holders of all the
Securities of that series.

ARTICLE 9

SUPPLEMENTAL INDENTURES

Section 9.01         Supplemental
Indentures Without the Consent of Securityholders.

In addition to any supplemental indenture otherwise
authorized by this Indenture, the Company and the Trustee may from time to time
and at any time enter into an indenture or indentures supplemental hereto
(which shall conform to the provisions of the Trust Indenture Act as then in
effect), without the consent of the Securityholders, for one or more of the
following purposes:

(a)           to cure any ambiguity, defect, or
inconsistency herein or in the Securities of any series;

(b)           to comply with Article Ten;

(c)           to provide for uncertificated Securities
in addition to or in place of certificated Securities;

(d)           to add to the covenants, restrictions,
conditions or provisions relating to the Company for the benefit of the holders
of all or any series of Securities (and if such covenants, restrictions,
conditions or provisions are to be for the benefit of less than all series of
Securities, stating that such covenants, restrictions, conditions or provisions
are expressly being included solely for the benefit of such series), to make
the occurrence, or the occurrence and the continuance, of a default in any such
additional covenants, restrictions, conditions or provisions an Event of
Default, or to surrender any right or power herein conferred upon the Company;

(e)           to add to, delete from, or revise the
conditions, limitations, and restrictions on the authorized amount, terms, or
purposes of issue, authentication, and delivery of Securities, as herein set
forth;

(f)            to make any change that does not
adversely affect the rights of any Securityholder in any material respect;

(g)           to provide for the issuance of and
establish the form and terms and conditions of the Securities of any series as
provided in Section 2.01, to establish the form of any certifications
required to be furnished pursuant to the terms of this Indenture or any series
of Securities, or to add to the rights of the holders of any series of
Securities;

(h)           to evidence and provide for the
acceptance of appointment hereunder by a successor trustee; or

 36
 

 

 

(i)            to comply with any requirements of the
Securities and Exchange Commission or any successor in connection with the
qualification of this Indenture under the Trust Indenture Act.

The Trustee is hereby authorized to join with the
Company in the execution of any such supplemental indenture, and to make any
further appropriate agreements and stipulations that may be therein contained,
but the Trustee shall not be obligated to enter into any such supplemental
indenture that affects the Trustee’s own rights, duties or immunities under
this Indenture or otherwise.

Any supplemental indenture authorized by the
provisions of this Section may be executed by the Company and the Trustee
without the consent of the holders of any of the Securities at the time
Outstanding, notwithstanding any of the provisions of Section 9.02.

Section 9.02         Supplemental
Indentures With Consent of Securityholders.

With the consent (evidenced as provided in Section 8.01)
of the holders of not less than a majority in aggregate principal amount of the
Securities of each series affected by such supplemental indenture or indentures
at the time Outstanding, the Company, when authorized by a Board Resolution,
and the Trustee may from time to time and at any time enter into an indenture
or indentures supplemental hereto (which shall conform to the provisions of the
Trust Indenture Act as then in effect) for the purpose of adding any provisions
to or changing in any manner or eliminating any of the provisions of this Indenture
or of any supplemental indenture or of modifying in any manner not covered by Section 9.01
the rights of the holders of the Securities of such series under this
Indenture; provided, however, that no such supplemental indenture shall,
without the consent of the holders of each Security then Outstanding and
affected thereby, (a) extend the fixed maturity of any Securities of any
series, or reduce the principal amount thereof, or reduce the rate or extend
the time of payment of interest thereon, or reduce any premium payable upon the
redemption thereof or (b) reduce the aforesaid percentage of Securities,
the holders of which are required to consent to any such supplemental
indenture.

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

Section 9.03         Effect
of Supplemental Indentures.

Upon the execution of any supplemental indenture
pursuant to the provisions of this Article or of Section 10.01, this
Indenture shall, with respect to such series, be and be deemed to be modified
and amended in accordance therewith and the respective rights, limitations of
rights, obligations, duties and immunities under this Indenture of the Trustee,
the Company and the holders of Securities of the series affected thereby shall
thereafter be determined, exercised and enforced hereunder subject in all
respects to such modifications and amendments, and all the terms and conditions
of any such supplemental indenture shall be and be deemed to be part of the
terms and conditions of this Indenture for any and all purposes.

 37
 

 

 

Section 9.04         Securities
Affected by Supplemental Indentures.

Securities of any series affected by a supplemental
indenture, authenticated and delivered after the execution of such supplemental
indenture pursuant to the provisions of this Article or of Section 10.01,
may bear a notation in form approved by the Company, provided such form meets
the requirements of any securities exchange upon which such series may be
listed, as to any matter provided for in such supplemental indenture. If the
Company shall so determine, new Securities of that series so modified as to
conform, in the opinion of the Board of Directors, to any modification of this
Indenture contained in any such supplemental indenture may be prepared by the
Company, authenticated by the Trustee and delivered in exchange for the
Securities of that series then Outstanding.

Section 9.05         Execution
of Supplemental Indentures.

Upon the request of the Company, accompanied by its
Board Resolutions authorizing the execution of any such supplemental indenture,
and upon the filing with the Trustee of evidence of the consent of
Securityholders required to consent thereto as aforesaid, the Trustee shall
join with the Company in the execution of such supplemental indenture unless
such supplemental indenture affects the Trustee’s own rights, duties or
immunities under this Indenture or otherwise, in which case the Trustee may in
its discretion but shall not be obligated to enter into such supplemental
indenture. The Trustee, subject to the provisions of Section 7.01, will be
entitled to receive and will be fully protected in relying upon an Officers’
Certificate and an Opinion of Counsel stating that any supplemental indenture
executed pursuant to this Article is authorized or permitted by, and
conforms to, the terms of this Article and that it is proper for the Trustee
under the provisions of this Article to join in the execution thereof;
provided, however, that such Officers’ Certificate or Opinion of Counsel need
not be provided in connection with the execution of a supplemental indenture
that establishes the terms of a series of Securities pursuant to Section 2.01
hereof.

Promptly after the execution by the Company and the
Trustee of any supplemental indenture pursuant to the provisions of this
Section, the Trustee shall transmit by mail, first class postage prepaid, a
notice, setting forth in general terms the substance of such supplemental
indenture, to the Securityholders of all series affected thereby as their names
and addresses appear upon the Security Register. Any failure of the Trustee to
mail such notice, or any defect therein, shall not, however, in any way impair
or affect the validity of any such supplemental indenture.

ARTICLE 10

SUCCESSOR ENTITY

Section 10.01       Company
May Consolidate, Etc.

Except as provided pursuant to Section 2.01
pursuant to a Board Resolution, and set forth in an Officers’ Certificate, or
established in one or more indentures supplemental to this Indenture, nothing
contained in this Indenture shall prevent any consolidation or merger of the
Company with or into any other Person (whether or not affiliated with the
Company) or 

 38
 

 

 

successive consolidations or mergers in which the
Company or its successor or successors shall be a party or parties, or shall
prevent any sale, conveyance, transfer or other disposition of the property of
the Company or its successor or successors as an entirety, or substantially as
an entirety, to any other corporation (whether or not affiliated with the
Company or its successor or successors) authorized to acquire and operate the
same; provided, however, the Company hereby covenants and agrees that, upon any
such consolidation or merger (in each case, if the Company is not the survivor
of such transaction), sale, conveyance, transfer or other disposition, the due
and punctual payment of the principal of (premium, if any) and interest on all
of the Securities of all series in accordance with the terms of each series,
according to their tenor, and the due and punctual performance and observance
of all the covenants and conditions of this Indenture with respect to each
series or established with respect to such series pursuant to Section 2.01
to be kept or performed by the Company shall be expressly assumed, by
supplemental indenture (which shall conform to the provisions of the Trust
Indenture Act, as then in effect) reasonably satisfactory in form to the
Trustee executed and delivered to the Trustee by the entity formed by such
consolidation, or into which the Company shall have been merged, or by the
entity which shall have acquired such property.

Section 10.02       Successor
Entity Substituted.

(a)           In case of any such consolidation,
merger, sale, conveyance, transfer or other disposition and upon the assumption
by the successor entity by supplemental indenture, executed and delivered to
the Trustee and satisfactory in form to the Trustee, of the obligations set
forth under Section 10.01 on all of the Securities of all series
Outstanding, such successor entity shall succeed to and be substituted for the
Company with the same effect as if it had been named as the Company herein, and
thereupon the predecessor corporation shall be relieved of all obligations and
covenants under this Indenture and the Securities.

(b)           In case of any such consolidation,
merger, sale, conveyance, transfer or other disposition, such changes in phraseology
and form (but not in substance) may be made in the Securities thereafter to be
issued as may be appropriate.

(c)           Nothing contained in this Article shall
require any action by the Company in the case of a consolidation or merger of
any Person into the Company where the Company is the survivor of such
transaction, or the acquisition by the Company, by purchase or otherwise, of
all or any part of the property of any other Person (whether or not affiliated
with the Company).

Section 10.03       Evidence of Consolidation, Etc. to
Trustee.

The Trustee, subject to the provisions of Section 7.01,
may receive an Officers’ Certificate or an Opinion of Counsel as conclusive
evidence that any such consolidation, merger, sale, conveyance, transfer or
other disposition, and any such assumption, comply with the provisions of this
Article.

 39
 

 

 

ARTICLE 11

SATISFACTION AND DISCHARGE

Section 11.01       Satisfaction
and Discharge of Indenture.

If at any time: (a) the Company shall have
delivered to the Trustee for cancellation all Securities of a series
theretofore authenticated and not delivered to the Trustee for cancellation
(other than any Securities that shall have been destroyed, lost or stolen and
that shall have been replaced or paid as provided in Section 2.07 and
Securities for whose payment money or Governmental Obligations have theretofore
been deposited in trust or segregated and held in trust by the Company and
thereupon repaid to the Company or discharged from such trust, as provided in Section 11.05);
or (b) all such Securities of a particular series not theretofore
delivered to the Trustee for cancellation shall have become due and payable, or
are by their terms to become due and payable within one year or are to be
called for redemption within one year under arrangements satisfactory to the
Trustee for the giving of notice of redemption, and the Company shall deposit
or cause to be deposited with the Trustee as trust funds the entire amount in
moneys or Governmental Obligations or a combination thereof, sufficient in the
opinion of a nationally recognized firm of independent public accountants
expressed in a written certification thereof delivered to the Trustee, to pay
at maturity or upon redemption all Securities of that series not theretofore
delivered to the Trustee for cancellation, including principal (and premium, if
any) and interest due or to become due to such date of maturity or date fixed
for redemption, as the case may be, and if the Company shall also pay or cause
to be paid all other sums payable hereunder with respect to such series by the
Company then this Indenture shall thereupon cease to be of further effect with
respect to such series except for the provisions of Sections 2.03, 2.05, 2.07,
4.01, 4.02, 4.03 and 7.10, that shall survive until the date of maturity or
redemption date, as the case may be, and Sections 7.06 and 11.05, that shall
survive to such date and thereafter, and the Trustee, on demand of the Company
and at the cost and expense of the Company shall execute proper instruments
acknowledging satisfaction of and discharging this Indenture with respect to
such series.

Section 11.02       Discharge
of Obligations.

If at any time all such Securities of a particular
series not heretofore delivered to the Trustee for cancellation or that have
not become due and payable as described in Section 11.01 shall have been
paid by the Company by depositing irrevocably with the Trustee as trust funds
moneys or an amount of Governmental Obligations sufficient to pay at maturity
or upon redemption all such Securities of that series not theretofore delivered
to the Trustee for cancellation, including principal (and premium, if any) and
interest due or to become due to such date of maturity or date fixed for
redemption, as the case may be, and if the Company shall also pay or cause to
be paid all other sums payable hereunder by the Company with respect to such
series, then after the date such moneys or Governmental Obligations, as the
case may be, are deposited with the Trustee the obligations of the Company under
this Indenture with respect to such series shall cease to be of further effect
except for the provisions of Sections 2.03, 2.05, 2.07, 4,01, 4.02, 4,03, 7.06,
7.10 and 11.05 hereof that shall survive until such Securities shall mature and
be paid.

 40
 

 

Thereafter, Sections 7.06 and 11.05 shall survive.

Section 11.03       Deposited
Moneys to be Held in Trust.

All moneys or Governmental Obligations deposited with
the Trustee pursuant to Sections 11.01 or 11.02 shall be held in trust and
shall be available for payment as due, either directly or through any paying
agent (including the Company acting as its own paying agent), to the holders of
the particular series of Securities for the payment or redemption of which such
moneys or Governmental Obligations have been deposited with the Trustee.

Section 11.04       Payment
of Moneys Held by Paying Agents.

In connection with the satisfaction and discharge of
this Indenture all moneys or Governmental Obligations then held by any paying
agent under the provisions of this Indenture shall, upon demand of the Company,
be paid to the Trustee and thereupon such paying agent shall be released from
all further liability with respect to such moneys or Governmental Obligations.

Section 11.05       Repayment
to Company.

Any moneys or Governmental Obligations deposited with
any paying agent or the Trustee, or then held by the Company, in trust for
payment of principal of or premium, if any, or interest on the Securities of a
particular series that are not applied but remain unclaimed by the holders of
such Securities for at least two years after the date upon which the principal
of (and premium, if any) or interest on such Securities shall have respectively
become due and payable, or such other shorter period set forth in applicable
escheat or abandoned or unclaimed property law, shall be repaid to the Company
on May 31 of each year or upon the Company’s request or (if then held by
the Company) shall be discharged from such trust; and thereupon the paying
agent and the Trustee shall be released from all further liability with respect
to such moneys or Governmental Obligations, and the holder of any of the
Securities entitled to receive such payment shall thereafter, as a general
creditor, look only to the Company for the payment thereof.

ARTICLE 12

IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS

Section 12.01       No
Recourse.

No recourse under or upon any obligation, covenant or
agreement of this Indenture, or of any Security, or for any claim based thereon
or otherwise in respect thereof, shall be had against any incorporator,
stockholder, officer or director, past, present or future as such, of the
Company or of any predecessor or successor corporation, either directly or
through the Company or any such predecessor or successor corporation, whether
by virtue of any constitution, statute or rule of law, or by the
enforcement of any assessment or penalty or otherwise; it being expressly
understood that this Indenture and the obligations issued hereunder are solely
corporate obligations, and that no such personal liability whatever shall
attach to, or is or shall be incurred

 41
 

 

by, the incorporators, stockholders, officers or
directors as such, of the Company or of any predecessor or successor
corporation, or any of them, because of the creation of the indebtedness hereby
authorized, or under or by reason of the obligations, covenants or agreements
contained in this Indenture or in any of the Securities or implied therefrom;
and that any and all such personal liability of every name and nature, either
at common law or in equity or by constitution or statute, of, and any and all
such rights and claims against, every such incorporator, stockholder, officer
or director as such, because of the creation of the indebtedness hereby
authorized, or under or by reason of the obligations, covenants or agreements
contained in this Indenture or in any of the Securities or implied therefrom,
are hereby expressly waived and released as a condition of, and as a
consideration for, the execution of this Indenture and the issuance of such
Securities.

ARTICLE 13

MISCELLANEOUS PROVISIONS

Section 13.01       Effect
on Successors and Assigns.

All the covenants, stipulations, promises and
agreements in this Indenture made by or on behalf of the Company shall bind its
successors and assigns, whether so expressed or not.

Section 13.02       Actions
by Successor.

Any act or proceeding by any provision of this
Indenture authorized or required to be done or performed by any board,
committee or officer of the Company shall and may be done and performed with
like force and effect by the corresponding board, committee or officer of any
corporation that shall at the time be the lawful successor of the Company.

Section 13.03       Surrender
of Company Powers.

The Company by instrument in writing executed by
authority of its Board of Directors and delivered to the Trustee may surrender
any of the powers reserved to the Company, and thereupon such power so
surrendered shall terminate both as to the Company and as to any successor
corporation.

Section 13.04       Notices.

Except as otherwise expressly provided herein, any
notice, request or demand that by any provision of this Indenture is required
or permitted to be given, made or served by the Trustee or by the holders of
Securities or by any other Person pursuant to this Indenture to or on the
Company may be given or served by being deposited in first class mail, postage
prepaid, addressed (until another address is filed in writing by the Company
with the Trustee), as follows: 2100 Powell Street, Emeryville, CA 94608.
Any notice, election, request or demand by the Company or any Securityholder or
by any other Person pursuant to this Indenture to or upon the Trustee shall be
deemed to have been sufficiently given or made, for all purposes, if given or
made in writing at the Corporate Trust Office of the Trustee.

 42
 

 

 

Section 13.05       Governing
Law.

This Indenture and each Security shall be deemed to be
a contract made under the internal laws of the State of New York, and for all
purposes shall be construed in accordance with the laws of said State, except
to the extent that the Trust Indenture Act is applicable.

Section 13.06       Treatment
of Securities as Debt.

It is intended that the Securities will be treated as
indebtedness and not as equity for federal income tax purposes. The provisions
of this Indenture shall be interpreted to further this intention.

Section 13.07       Certificates
and Opinions as to Conditions Precedent.

(a)           Upon any application or demand by the
Company to the Trustee to take any action under any of the provisions of this
Indenture, the Company shall furnish to the Trustee an Officers’ Certificate
stating that all conditions precedent provided for in this Indenture (other
than the certificate to be delivered pursuant to Section 13.12) relating
to the proposed action have been complied with and an Opinion of Counsel
stating that in the opinion of such counsel all such conditions precedent have
been complied with, except that in the case of any such application or demand
as to which the furnishing of such documents is specifically required by any
provision of this Indenture relating to such particular application or demand,
no additional certificate or opinion need be furnished.

(b)           Each certificate or opinion provided for
in this Indenture and delivered to the Trustee with respect to compliance with
a condition or covenant in this Indenture shall include (i) a statement
that the Person making such certificate or opinion has read such covenant or
condition; (ii) a brief statement as to the nature and scope of the examination
or investigation upon which the statements or opinions contained in such
certificate or opinion are based; (iii) a statement that, in the opinion
of such Person, he has made such examination or investigation as is reasonably
necessary to enable him to express an informed opinion as to whether or not
such covenant or condition has been complied with; and (iv) a statement as
to whether or not, in the opinion of such Person, such condition or covenant
has been complied with.

Section 13.08       Payments
on Business Days.

Except as provided pursuant to Section 2.01
pursuant to a Board Resolution, and set forth in an Officers’ Certificate, or
established in one or more indentures supplemental to this Indenture, in any
case where the date of maturity of interest or principal of any Security or the
date of redemption of any Security shall not be a Business Day, then payment of
interest or principal (and premium, if any) may be made on the next succeeding
Business Day with the same force and effect as if made on the nominal date of
maturity or redemption, and no interest shall accrue for the period after such
nominal date.

 43
 

 

 

Section 13.09       Conflict
with Trust Indenture Act.

If and to the extent that any provision of this
Indenture limits, qualifies or conflicts with the duties imposed by Sections
310 to 317, inclusive, of the Trust Indenture Act, such imposed duties shall
control.

Section 13.10       Counterparts.

This Indenture 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.

Section 13.11       Separability.

In case any one or more of the provisions contained in
this Indenture or in the Securities of any series shall for any reason be held
to be invalid, illegal or unenforceable in any respect, such invalidity,
illegality or unenforceability shall not affect any other provisions of this
Indenture or of such Securities, but this Indenture and such Securities shall
be construed as if such invalid or illegal or unenforceable provision had never
been contained herein or therein.

Section 13.12       Compliance Certificates.

The Company shall deliver to the Trustee, within 120
days after the end of each fiscal year during which any Securities of any
series were outstanding, a compliance certificate stating whether or not the
signer knows of any Default or Event of Default that occurred during such
fiscal year. Such certificate shall contain a certification from the principal
executive officer, principal financial officer or principal accounting officer
of the Company that a review has been conducted of the activities of the
Company and the Company’s performance under this Indenture and that the Company
has complied with all conditions and covenants under this Indenture. For purposes
of this Section 13.12, such compliance shall be determined without regard
to any period of grace or requirement of notice provided under this Indenture. If
the officer of the Company signing such certificate has knowledge of such a
Default or Event of Default, the certificate shall describe any such Default or
Event of Default and its status.

 44
 

 

IN WITNESS WHEREOF,
the parties hereto have caused this Indenture to be duly executed all as of the
day and year first above written.

	
  

  	
  ALLOS THERAPEUTICS, INC.

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  [TRUSTEE],  as
  Trustee

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  

 

 45
 

 

 

CROSS-REFERENCE TABLE (1)

 

	
  Section of Trust
  Indenture Act Of 1939, as Amended

  	
   

  	
  Section of Indenture

  
	
  310(a)

  	
   

  	
  7.09

  
	
  310(b)

  	
   

  	
  7.08

  
	
  

  	
   

  	
  7.10

  
	
  310(c)

  	
   

  	
  Inapplicable

  
	
  311(a)

  	
   

  	
  7.13

  
	
  311(b)

  	
   

  	
  7.13

  
	
  311(c)

  	
   

  	
  Inapplicable

  
	
  312(a)

  	
   

  	
  5.01

  
	
  

  	
   

  	
  5.02(a)

  
	
  312(b)

  	
   

  	
  5.02(c)

  
	
  312(c)

  	
   

  	
  5.02(c)

  
	
  313(a)

  	
   

  	
  5.04(a)

  
	
  313(b)

  	
   

  	
  5.04(b)

  
	
  313(c)

  	
   

  	
  5.04(a)

  
	
  

  	
   

  	
  5.04(b)

  
	
  313(d)

  	
   

  	
  5.04(c)

  
	
  314(a)

  	
   

  	
  5.03

  
	
   

  	
   

  	
  13.12

  
	
  314(b)

  	
   

  	
  Inapplicable

  
	
  314(c)

  	
   

  	
  13.07(a)

  
	
  314(d)

  	
   

  	
  Inapplicable

  
	
  314(e)

  	
   

  	
  13.07(b)

  
	
  314(f)

  	
   

  	
  Inapplicable

  
	
  315(a)

  	
   

  	
  7.01(a)

  
	
  

  	
   

  	
  7.01(b)

  
	
  315(b)

  	
   

  	
  7.14

  
	
  315(c)

  	
   

  	
  7.01

  
	
  315(d)

  	
   

  	
  7.01(b)

  
	
  315(e)

  	
   

  	
  6.07

  
	
  316(a)

  	
   

  	
  6.06

  
	
  

  	
   

  	
  8.04

  
	
  316(b)

  	
   

  	
  6.04

  
	
  316(c)

  	
   

  	
  8.01

  
	
  317(a)

  	
   

  	
  6.02

  
	
  317(b)

  	
   

  	
  4.03

  
	
  318(a)

  	
   

  	
  13.09

  

_________________

(1)          This Cross-Reference
Table does not constitute part of the Indenture and shall not have any bearing
on the interpretation of any of its terms or provisions.

 46

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