Document:

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                                                                     EXHIBIT 4.2

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                           COOPER CAMERON CORPORATION

                                       AND

                   -----------------------------------------,

                                     TRUSTEE

                                    INDENTURE

                                   DATED AS OF

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

                                 DEBT SECURITIES
                               (SUBORDINATED DEBT)

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                           COOPER CAMERON CORPORATION

           RECONCILIATION AND TIE BETWEEN TRUST INDENTURE ACT OF 1939
                  AND INDENTURE, DATED AS OF _________________

<Table>
<Caption>
  SECTION OF
    TRUST
  INDENTURE                                                                                     SECTION(S) OF
 ACT OF 1939                                                                                      INDENTURE
-------------                                                                           ------------------------------
<S>           <C>                                                                       <C>
Section 310   (a)(1)....................................................................609
              (a)(2)....................................................................609
              (a)(3)....................................................................Not Applicable
              (a)(4)....................................................................Not Applicable
              (b).......................................................................608, 610
Section 311   (a).......................................................................613
              (b).......................................................................613
              (c).......................................................................Not Applicable
Section 312   (a).......................................................................701, 702(a)
              (b).......................................................................702(b)
              (c).......................................................................702(c)
Section 313   (a).......................................................................703(a)
              (b).......................................................................703(b)
              (c).......................................................................703(c)
              (d).......................................................................703(d)
Section 314   (a).......................................................................704, 1005
              (b).......................................................................Not Applicable
              (c)(1)....................................................................103
              (c)(2)....................................................................103
              (c)(3)....................................................................Not Applicable
              (d).......................................................................Not Applicable
              (e).......................................................................103
Section 315   (a).......................................................................601(a)
              (b).......................................................................602
              (c).......................................................................601(b)
              (d).......................................................................601(c)
              (d)(1)....................................................................601(a) (1)
              (d)(2)....................................................................601(c) (2)
              (d)(3)....................................................................601(c) (3)
              (e).......................................................................513
Section 316   (a)(1) (A)................................................................502, 511
              (a)(1) (5)................................................................512
              (a)(2)....................................................................Not Applicable
              (a)(last sentence)........................................................101
              (b).......................................................................508
Section 317   (a)(1)....................................................................503
              (a)(2)....................................................................504
              (b).......................................................................1003
Section 318   (a).......................................................................108

Note:    This reconciliation and tie shall not, for any purpose, be deemed to be a part of the Indenture.
</Table>

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                                TABLE OF CONTENTS

<Table>
<Caption>
                                                                                                                PAGE
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<S>                                                                                                             <C>
ARTICLE ONE DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION.............................................. 1

         Section 101.   Definitions.............................................................................. 1
         Section 102.   Incorporation by Reference of Trust Indenture Act........................................ 7
         Section 103.   Compliance Certificates and Opinions. ....................................................8
         Section 104.   Form of Documents Delivered to Trustee. ..................................................8
         Section 105.   Acts of Holders; Record Dates. ...........................................................8
         Section 106.   Notices, Etc., to Trustee and Company. ...................................................9
         Section 107.   Notice to Holders; Waiver. ..............................................................10
         Section 108.   Conflict With Trust Indenture Act. ......................................................10
         Section 109.   Effect of Headings and Table of Contents. ...............................................10
         Section 110.   Successors and Assigns. .................................................................10
         Section 111.   Separability Clause. ....................................................................10
         Section 112.   Benefits of Indenture. ..................................................................10
         Section 113.   Governing Law. ..........................................................................10
         Section 114.   Legal Holidays. .........................................................................11
         Section 115.   Corporate Obligation. ...................................................................11

ARTICLE TWO SECURITY FORMS.......................................................................................11

         Section 201.   Forms Generally. ........................................................................11
         Section 202.   Form of Trustee's Certificate of Authentication. ........................................11
         Section 203.   Securities in Global Form. ..............................................................12

ARTICLE THREE THE SECURITIES ....................................................................................14

         Section 301.   Amount Unlimited; Issuable in Series. ...................................................14
         Section 302.   Denominations. ..........................................................................16
         Section 303.   Execution, Authentication, Delivery and Dating. .........................................16
         Section 304.   Temporary Securities. ...................................................................17
         Section 305.   Registration, Registration of Transfer and Exchange. ....................................17
         Section 306.   Mutilated, Destroyed, Lost and Stolen Securities. .......................................18
         Section 307.   Payment of Interest; Interest Rights Preserved. .........................................19
         Section 308.   Persons Deemed Owners. ..................................................................19
         Section 309.   Cancellation. ...........................................................................20
         Section 310.   Computation of Interest. ................................................................20
         Section 311.   CUSIP Numbers. ..........................................................................20

ARTICLE FOUR SATISFACTION AND DISCHARGE .........................................................................20

         Section 401.   Satisfaction and Discharge of Indenture. ................................................20
         Section 402.   Application of Trust Money. .............................................................22
         Section 403.   Discharge of Liability on Securities of Any Series. .....................................22
         Section 404.   Reinstatement ...........................................................................22

ARTICLE FIVE REMEDIES ...........................................................................................23

         Section 501.   Events of Default. ......................................................................23
         Section 502.   Acceleration of Maturity; Rescission and Annulment. .....................................24
         Section 503.   Collection of Indebtedness and Suits for Enforcement by Trustee. ........................25

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         Section 504.   Trustee May File Proofs of Claim. .......................................................25
         Section 505.   Trustee May Enforce Claims Without Possession of Securities or Coupons. .................26
         Section 506.   Application of Money Collected. .........................................................26
         Section 507.   Limitation on Suits. ....................................................................27
         Section 508.   Unconditional Right of Holders to Receive Principal, Premium and Interest. ..............27
         Section 509.   Restoration of Rights and Remedies. .....................................................27
         Section 510.   Rights and Remedies Cumulative. .........................................................28
         Section 511.   Delay or Omission Not Waiver. ...........................................................28
         Section 512.   Control by Holders. .....................................................................28
         Section 513.   Waiver of Past Defaults. ................................................................28
         Section 514.   Undertaking for Costs. ..................................................................28
         Section 515.   Waiver of Stay or Extension Laws. .......................................................29

ARTICLE SIX THE TRUSTEE .........................................................................................29

         Section 601.   Certain Duties and Responsibilities. ....................................................29
         Section 602.   Notice of Defaults. .....................................................................30
         Section 603.   Certain Rights of Trustee. ..............................................................30
         Section 604.   Not Responsible for Recitals or Issuance of Securities. .................................31
         Section 605.   May Hold Securities. ....................................................................31
         Section 606.   Money Held in Trust. ....................................................................31
         Section 607.   Compensation and Reimbursement. .........................................................31
         Section 608.   Disqualification; Conflicting Interests. ................................................32
         Section 609.   Corporate Trustee Required; Eligibility. ................................................32
         Section 610.   Resignation and Removal; Appointment of Successor. ......................................32
         Section 611.   Acceptance of Appointment by Successor. .................................................33
         Section 612.   Merger, Conversion, Consolidation or Succession to Business. ............................34
         Section 613.   Preferential Collection of Claims Against Company. ......................................34
         Section 614.   Appointment of Authenticating Agent. ....................................................34

ARTICLE SEVEN HOLDER'S LISTS AND REPORTS BY TRUSTEE AND COMPANY .................................................36

         Section 701.   Company to Furnish Trustee Names and Addresses of Holders. ..............................36
         Section 702.   Preservation of Information; Communications to Holders. .................................36
         Section 703.   Reports by Trustee. .....................................................................36
         Section 704.   Reports by Company. .....................................................................37

ARTICLE EIGHT CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE ..............................................37

         Section 801.   Company May Consolidate, Etc., Only on Certain Terms. ...................................37
         Section 802.   Successor Person Substituted. ...........................................................37

ARTICLE NINE SUPPLEMENTAL INDENTURES ............................................................................38

         Section 901.   Supplemental Indentures Without Consent of Holders. .....................................38
         Section 902.   Supplemental Indentures With Consent of Holders. ........................................39
         Section 903.   Execution of Supplemental Indentures. ...................................................39
         Section 904.   Effect of Supplemental Indentures. ......................................................40
         Section 905.   Conformity With Trust Indenture Act. ....................................................40
         Section 906.   Reference in Securities to Supplemental Indentures. .....................................40

ARTICLE TEN COVENANTS ...........................................................................................40

         Section 1001.  Payment of Principal, Premium and Interest. .............................................40
         Section 1002.  Maintenance of Office or Agency. ........................................................40

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         Section 1003.  Money for Securities Payments to be Held in Trust. ......................................40
         Section 1004.  Existence. ..............................................................................41
         Section 1005.  Statement by Officers as to Default. ....................................................41
         Section 1006.  Waiver of Certain Covenants. ............................................................42
         Section 1007.  Additional Amounts. .....................................................................42

ARTICLE ELEVEN REDEMPTION OF SECURITIES .........................................................................43

         Section 1101.  Applicability of Article. ...............................................................43
         Section 1102.  Election to Redeem; Notice to Trustee. ..................................................43
         Section 1103.  Selection by Trustee of Securities to be Redeemed. ......................................43
         Section 1104.  Notice of Redemption. ...................................................................43
         Section 1105.  Deposit of Redemption Price. ............................................................44
         Section 1106.  Securities Payable on Redemption Date. ..................................................44
         Section 1107.  Securities Redeemed in Part. ............................................................44
         Section 1108.  Purchase of Securities. .................................................................44

ARTICLE TWELVE SINKING FUNDS ....................................................................................45

         Section 1201.  Applicability of Article. ...............................................................45
         Section 1202.  Satisfaction of Sinking Fund Payments with Securities. ..................................45
         Section 1203.  Redemption of Securities for Sinking Fund. ..............................................45

ARTICLE THIRTEEN SUBORDINATION ..................................................................................46

         Section 1301.  Securities Subordinated to Senior Indebtedness. .........................................46
         Section 1302.  No Payment on Securities in Certain Circumstances. ......................................46
         Section 1303.  Securities Subordinated to Prior Payment of All Senior Indebtedness on Dissolution,
                        Liquidation or Reorganization. ..........................................................47
         Section 1304.  Subrogation to Rights of Holders of Senior Indebtedness. ................................47
         Section 1305.  Obligations of the Company Unconditional. ...............................................48
         Section 1306.  Trustee Entitled to Assume Payments Not Prohibited in Absence of Notice. ................48
         Section 1307.  Application by Trustee of Amounts Deposited with It. ....................................49
         Section 1308.  Subordination Rights Not Impaired by Acts or Omissions of the Company or Holders
                        of Senior Indebtedness. .................................................................49
         Section 1309.  Trustee to Effectuate Subordination of Securities. ......................................49
         Section 1310.  Right of Trustee to Hold Senior Indebtedness. ...........................................49
         Section 1311.  Article Thirteen Not to Prevent Events of Default. ......................................50
         Section 1312.  No Fiduciary Duty of Trustee to Holders of Senior Indebtedness. .........................50
         Section 1313.  Article Applicable to Paying Agent. .....................................................50

ARTICLE FOURTEEN MEETINGS OF HOLDERS OF SECURITIES ..............................................................50

         Section 1401.  Purposes for Which Meetings May Be Called. ..............................................50
         Section 1402.  Call, Notice and Place of Meetings. .....................................................50
         Section 1403.  Persons Entitled to Vote at Meetings. ...................................................51
         Section 1404.  Quorum; Action. .........................................................................51
         Section 1405.  Determination of Voting Rights; Conduct and Adjournment of Meetings. ....................51
         Section 1406.  Counting Votes and Recording Action of Meetings. ........................................52
</Table>

                                       iii
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         INDENTURE, dated as of _________________, between COOPER CAMERON
CORPORATION, a corporation duly organized and existing under the laws of the
State of Delaware (herein called the "Company"), having its principal office
at 1333 West Loop South, Suite 1700, Houston, Texas 77027, and
____________________________, a national banking association, as Trustee
(herein called the "Trustee"), the office of the Trustee at which at the date
hereof its corporate trust business is principally administered being
________________________.

                             RECITALS OF THE COMPANY

         The Company has duly authorized the execution and delivery of this
Indenture to provide for the issuance from time to time of its unsecured
subordinated debentures, notes or other evidences of indebtedness (herein
called the "Securities") to be issued in one or more series as in this
Indenture provided.

         This Indenture is subject to the provisions of the Trust Indenture
Act and the rules and regulations of the Commission promulgated thereunder
that are required to be part of this Indenture and, to the extent applicable,
shall be governed by such provisions.

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

         NOW, THEREFORE, THIS INDENTURE WITNESSETH:

         For and in consideration of the premises and the purchase of the
Securities by the Holders thereof, it is mutually covenanted and agreed, for
the equal and proportionate benefit of all Holders of the Securities or of
series thereof, as follows:

                                   ARTICLE ONE

                        DEFINITIONS AND OTHER PROVISIONS
                             OF GENERAL APPLICATION

SECTION 101.      DEFINITIONS.

         For all purposes of this Indenture, except as otherwise expressly
provided or unless the context otherwise requires:

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

                  (2) all accounting terms not otherwise defined herein have the
         meanings assigned to them in accordance with generally accepted
         accounting principles in the United States, and, except as otherwise
         herein expressly provided, the term "generally accepted accounting
         principles" with respect to any computation required or permitted
         hereunder shall mean such accounting principles as are generally
         accepted in the United States at the date of such computation; and

                  (3) the words "herein", "hereof" and "hereunder" and other
         words of similar import refer to this Indenture as a whole and not to
         any particular Article, Section or other subdivision.

         Certain terms, used principally in Article Six, are defined in
Section 102.

         "Act", when used with respect to any Holder, has the meaning
specified in Section 105.

         "Additional Amounts" means any additional amounts that are required
by the express terms of a Security or by or pursuant to a Board Resolution,
under circumstances specified therein or pursuant thereto, to be paid by the

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Company with respect to certain taxes, assessments or other governmental
charges imposed on certain Holders and that are owing to such Holders.

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

         "Agent Members" has the meaning specified in Section 203.

         "Authenticating Agent" means any Person, which may include the
Company, authorized by the Trustee to act on behalf of the Trustee pursuant
to Section 614 to authenticate Securities of one or more series.

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

         "Board of Directors" means either the board of directors of the
Company or any duly authorized committee of that 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, and delivered to the Trustee.

         "Business Day", when used with respect to any Place of Payment,
means each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day
on which banking institutions in that Place of Payment are authorized or
obligated by law or executive order to close.

         "Capital Stock" means, with respect to any Person, any and all
shares, interests, rights to purchase (other than convertible or exchangeable
Indebtedness), warrants, options, participations or other equivalents of or
interests (however designated) in stock issued by that Person.

         "Capitalized Lease Obligation" means rental obligations under a
lease that are required to be capitalized for financial reporting purposes in
accordance with generally accepted accounting principles, and the amount of
Indebtedness represented by such obligations shall be the capitalized amount
of such obligations, as determined in accordance with generally accepted
accounting principles.

         "Commission" means the Securities and Exchange Commission, as from
time to time constituted, created under the Securities Exchange Act of 1934,
as amended, or, if at any time after the execution of this instrument such
Commission is not existing and performing the duties now assigned to it under
the Trust Indenture Act, then the body performing such duties at such time.

         "Company" means the Person named as the "Company" in the first
paragraph of this instrument until a successor Person shall have become such
pursuant to the applicable provisions of this Indenture, and thereafter
"Company" shall mean such successor Person.

         "Company Request" and "Company Order" mean, respectively, a written
request or order signed in the name of the Company by its Chairman of the
Board, its President or a Vice President, and by its Treasurer, an Assistant
Treasurer, its Controller, an Assistant Controller, its Secretary or an
Assistant Secretary, and delivered to the Trustee.

                                       2
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         "Conversion Event" has the meaning specified in Section 501.

         "Corporate Trust Office" means the principal office of the Trustee
in [____________________________] at which at any particular time its
corporate trust business shall be principally administered, which office at
the date hereof is that indicated in the introductory paragraph of this
Indenture.

         "Defaulted Interest" has the meaning specified in Section 307.

         "Depositary" means, with respect to the Securities of any series
issuable or issued in whole or in part in global form, the Person designated
as Depositary by the Company pursuant to Section 301 with respect to the
Securities of such series until a successor Depositary shall have become such
pursuant to the applicable provisions of this Indenture, and thereafter
"Depositary" shall mean or include each Person who is then a Depositary
hereunder, and if at any time there is more than one such Person,
"Depositary" as used with respect to the Securities of any series shall mean
such Person.

         "Designated Senior Indebtedness", unless otherwise provided with
respect to the Securities of a series as contemplated by Section 301, means
any Senior Indebtedness that (i) in the instrument evidencing the same or the
assumption or guarantee thereof (or related documents to which the Company is
a party) is expressly designated as "Designated Senior Indebtedness" for
purposes of this Indenture and (ii) satisfies such other conditions as may be
provided with respect to the Securities of such series; provided that such
instruments or documents may place limitations and conditions on the right of
such Senior Indebtedness to exercise the rights of Designated Senior
Indebtedness.

         "Disqualified Capital Stock" means, when used with respect to the
Securities of any series, (a) except as set forth in (b), with respect to any
Person, Capital Stock of such Person that, by its terms or by the terms of
any security into which it is convertible, exercisable or exchangeable, is,
or upon the happening of an event or the passage of time would be, required
to be redeemed or repurchased (including at the option of the holder thereof)
by such Person or any Subsidiary of such Person, in whole or in part, on or
prior to the Stated Maturity of the Securities of such series, and (b) with
respect to any Subsidiary of such Person (including with respect to any
Subsidiary of the Company), any Capital Stock other than any common stock
with no preference, privileges, or redemption or repayment provisions.

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

         "Event of Default" has the meaning specified in Section 501.

         "Exchange Rate" has the meaning specified in Section 501.

         "Holder", when used with respect to any Security, means the Person
in whose name the Security is registered in the Security Register.

         "Indebtedness" of any Person, unless otherwise provided with respect
to the Securities of a series as contemplated by Section 301, means, without
duplication, the following (whether currently outstanding or hereafter
incurred or created): (i) all liabilities and obligations, contingent or
otherwise, of any such Person (a) in respect of borrowed money (whether or
not the recourse of the lender is to the whole of the assets of such Person
or only to a portion thereof), (b) evidenced by bonds, notes, debentures or
similar instruments, (c) representing the balance deferred and unpaid of the
purchase price of any property or services, except such as would constitute
trade payables to trade creditors in the ordinary course of business that are
not more than 90 days past their original due date, (d) evidenced by bankers'
acceptances or similar instruments issued or accepted by banks, (e) for the
payment of money relating to a Capitalized Lease Obligation or (f) evidenced
by a letter of credit or a reimbursement obligation of such Person with
respect to any letter of credit; (ii) all net obligations of such Person
under Interest Swap and Hedging Obligations; (iii) all liabilities of others
of the kind described in the preceding clause (i) or (ii) that such Person
has guaranteed or that is otherwise its legal liability and all obligations
to purchase, redeem or acquire any Capital Stock; and (iv) any and all
deferrals, renewals, extensions, refinancings, refundings (whether direct or

                                       3
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indirect) of, or amendments, modifications or supplements to, any liability
of the kind described in any of the preceding clauses (i) (ii) or (iii), or
this clause (iv), whether or not between or among the same parties.

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

         "interest", when used with respect to an Original Issue Discount
Security which by its terms bears interest only after Maturity, means
interest payable after Maturity.

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

         "Interest Swap and Hedging Obligation" means any obligation of any
Person pursuant to any interest rate swap agreement, interest rate cap
agreement, interest rate collar agreement, interest rate exchange agreement,
currency exchange agreement or any other agreement or arrangement designed to
protect against fluctuations in interest rates or currency values, including,
without limitation, any arrangement whereby, directly or indirectly, such
Person is entitled to receive from time to time periodic payments calculated
by applying either a fixed or floating rate of interest on a stated notional
amount in exchange for periodic payments made by such Person calculated by
applying a fixed or floating rate of interest on the same notional amount.

         "Judgment Currency" has the meaning specified in Section 506.

         "Junior Security" of a Person means, when used with respect to the
Securities of any series, any Qualified Capital Stock of such Person or any
Indebtedness of such Person that is subordinated in right of payment to the
Securities of such series and has no scheduled installment of principal due,
by redemption, sinking fund payment or otherwise, on or prior to the Stated
Maturity of the Securities of such series.

         "Maturity", when used with respect to any Security, means the date
on which the principal of such Security or an installment of principal
becomes due and payable as therein or herein provided, whether at the Stated
Maturity or by declaration of acceleration, call for redemption or otherwise.

         "Officers' Certificate" means a certificate signed by the Chairman
of the Board, the President or a Vice President, and by the Treasurer, the
Controller, the Secretary or an Assistant Treasurer, Assistant Controller or
Assistant Secretary, of the Company, and delivered to the Trustee, which
certificate shall comply with Section 103.

         "Opinion of Counsel" means a written opinion of counsel, who may be
counsel for or an employee of the Company, rendered, if applicable, in
accordance with Section 314(c) of the Trust Indenture Act, which opinion
shall comply with Section 103.

         "Original Issue Discount Security" means any Security which is
issued at a price lower than the principal amount payable upon the Stated
Maturity thereof and which provides for an amount less than the principal
amount thereof to be due and payable upon redemption thereof or upon a
declaration of acceleration of the Maturity thereof pursuant to Section 502.

         "Outstanding", when used with respect to Securities of a series,
means, as of the date of determination, all Securities of such series
theretofore authenticated and delivered under this Indenture, except:

                  (i) Securities theretofore cancelled by the Trustee or
         delivered to the Trustee for cancellation;

                  (ii) Securities for whose payment or redemption money in the
         necessary amount has been theretofore irrevocably deposited with the
         Trustee or any Paying Agent (other than the Company) in trust or set
         aside and segregated in trust by the Company (if the Company shall act
         as its own Paying Agent) for

                                       4
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         the Holders of such Securities; provided that, if such Securities are
         to be redeemed, notice of such redemption has been duly given pursuant
         to this Indenture or provision therefor satisfactory to the Trustee
         has been made; and

                  (iii) Securities which have been paid pursuant to Section 306
         or in exchange for or in lieu of which other Securities have been
         authenticated and delivered pursuant to this Indenture, other than any
         such Securities in respect of which there shall have been presented to
         the Trustee proof satisfactory to it that such Securities are held by a
         bona fide purchaser in whose hands such Securities are valid
         obligations of the Company;

provided, however, that in determining whether the Holders of the requisite
principal amount of the Outstanding Securities have given any request,
demand, authorization, direction, notice, consent or waiver hereunder, or
whether a quorum is present at a meeting of Holders of Securities, (a) the
principal amount of an Original Issue Discount Security that shall be deemed
to be Outstanding for such purposes shall be the principal amount thereof
that would be due and payable as of the date of such determination if the
Maturity thereof were accelerated on such date pursuant to Section 502, (b)
the principal amount of a Security denominated in a foreign currency shall be
the U.S. dollar equivalent, determined by the Company on the date of original
issuance of such Security, of the principal amount (or, in the case of an
Original Issue Discount Security, the U.S. dollar equivalent, determined on
the date of original issuance of such Security, of the amount determined as
provided in (a) above), of such Security and (c) Securities owned by the
Company or any other obligor upon the Securities or any Affiliate of the
Company or of such other obligor shall be disregarded and deemed not to be
Outstanding, except that, in determining whether the Trustee shall be
protected in relying upon any such request, demand, authorization, direction,
notice, consent or waiver or upon any such determination as to the presence
of a quorum, only Securities which the Trustee knows to be so owned shall be
so disregarded. Securities so owned which have been pledged in good faith may
be regarded as Outstanding if the pledgee establishes to the satisfaction of
the Trustee the pledgee's right so to act with respect to such Securities and
that the pledgee is not the Company or any other obligor upon the Securities
or any Affiliate of the Company or of such other obligor.

         "Paying Agent" means any Person, which may include the Company,
authorized by the Company to pay the principal of (and premium, if any) or
interest on or Additional Amounts with respect to any one or more series of
Securities on behalf of the Company.

         "Payment Default" has the meaning specified in Section 1302(a).

         "Payment Notice" has the meaning specified in Section 1302(b).

         "Person" means any individual, corporation, partnership, limited
liability company, joint venture, association, joint-stock company, trust,
unincorporated organization or government or any agency or political
subdivision thereof or any other entity of any kind.

         "Place of Payment", when used with respect to the Securities of any
series, means the place or places where the principal of (and premium, if
any) and interest on and any Additional Amounts with respect to the
Securities of that series are payable as specified in accordance with Section
301, subject to the provisions of Section 1002.

         "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 306 in
exchange for or in lieu of a mutilated, destroyed, lost or stolen Security
shall be deemed to evidence the same debt as the mutilated, destroyed, lost
or stolen Security.

         "Qualified Capital Stock" means any Capital Stock of the Company
that is not Disqualified Capital Stock.

         "Redemption Date", when used with respect to any Security to be
redeemed, means the date fixed for such redemption by or pursuant to the
terms of such Security and this Indenture.

                                       5
<Page>

         "Redemption Price", when used with respect to any Security to be
redeemed, means the price at which it is to be redeemed pursuant to the terms
of such Security and this Indenture.

         "Regular Record Date" for the interest payable on any Interest
Payment Date on the Securities of any series means the date specified for
that purpose as contemplated by Section 302, or, if not so specified, the
last day of the calendar month preceding such Interest Payment Date if such
Interest Payment Date is the fifteenth day of the calendar month or the
fifteenth day of the calendar month preceding such Interest Payment Date if
such Interest Payment Date is the first day of a calendar month, whether or
not such day shall be a Business Day.

         "Required Currency" has the meaning specified in Section 506.

         "Responsible Officer", when used with respect to the Trustee, means
the Chairman or any Vice Chairman of the Board of Directors, the Chairman or
any Vice Chairman of the Executive Committee of the Board of Directors, the
Chairman of the Trust Committee, the President, any Vice President, the
Secretary, any Assistant Secretary, the Treasurer, any Assistant Treasurer,
the Cashier, any Assistant Cashier, any Trust Officer or Assistant Trust
Officer, the Controller or any Assistant Controller or any other officer of
the Trustee customarily performing functions similar to those performed by
any of the above designated officers and also means, with respect to a
particular corporate trust matter, any other officer to whom such matter is
referred because of his knowledge of and familiarity with the particular
subject.

         "Securities" has the meaning stated in the first recital of this
Indenture and more particularly means any Securities authenticated and
delivered under this Indenture.

         "Security Custodian" means, with respect to Securities of a series
issued in global form, the Trustee for Securities of such series, acting in
its capacity as custodian with respect to the Securities of such series, or
any successor entity thereto.

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

         "Senior Indebtedness" of the Company, unless otherwise provided with
respect to the Securities of a series as contemplated by Section 301, means
(i) all Indebtedness of the Company, whether currently outstanding or
hereafter issued, unless, by the terms of the instrument creating or
evidencing such Indebtedness, it is provided that such Indebtedness is not
superior in right of payment to the Securities or to other Indebtedness which
is pan passu with or subordinated to the Securities, and (ii) any
modifications, refunding, deferrals, renewals or extensions of any such
Indebtedness or securities, notes or other evidences of Indebtedness issued
in exchange for such Indebtedness; provided that in no event shall "Senior
Indebtedness" include (a) Indebtedness of the Company owed or owing to any
Subsidiary of the Company or any officer, director or employee of the Company
or any Subsidiary of the Company, (b) Indebtedness to trade creditors or (c)
any liability for taxes owed or owing by the Company.

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

         "Stated Maturity", when used with respect to any Security or any
installment of principal thereof or interest thereon, means the date
specified in such Security as the fixed date on which the principal of such
Security or such installment of principal or interest is due and payable.

         "Subsidiary" means a corporation more than 50% of the outstanding
voting stock of which is owned, directly or indirectly, by the Company or by
one or more other Subsidiaries, or by the Company and one or more other
Subsidiaries. For the purposes of this definition, "voting stock" means stock
which ordinarily has voting power for the election of directors, whether at
all times or only so long as no senior class of stock has such voting power
by reason of any contingency.

         "Trustee" means the Person named as the "Trustee" in the first
paragraph of this instrument until a successor Trustee shall have become such
pursuant to the applicable provisions of this Indenture, and thereafter
"Trustee" shall mean or include each Person who is then a Trustee hereunder,
and if at any time there is more than

                                       6
<Page>

one such Person, "Trustee" as used with respect to the Securities of any
series shall mean the Trustee with respect to Securities of that series.

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

         "United States" means the United States of America (including the
States and the District of Columbia) and its "possessions", which include
Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa, Wake Island and
the Northern Mariana Islands.

         "United States Alien" means any Person who, for United States
federal income tax purposes, is a foreign corporation, a non-resident alien
individual, a non-resident alien or foreign fiduciary of an estate or trust,
or a foreign partnership.

         "U.S. Government Obligations" has the meaning specified in Section
401.

         "Vice President", when used with respect to the Company or the
Trustee, means any vice president, whether or not designated by a number or a
word or words added before or after the title "vice president".

         "Wholly Owned Subsidiary" means a corporation all the outstanding
voting stock (other than any directors' qualifying shares) of which is owned,
directly or indirectly, by the Company or by one or more other Wholly Owned
Subsidiaries, or by the Company and one or more other Wholly Owned
Subsidiaries. For the purposes of this definition, "voting stock" means stock
which ordinarily has voting power for the election of directors, whether at
all times or only so long as no senior class of stock has such voting power
by reason of any contingency.

         "Yield to Maturity", when used with respect to any Original Issue
Discount Security, means the yield to maturity, if any, set forth on the face
thereof.

SECTION 102.      INCORPORATION BY REFERENCE OF TRUST INDENTURE ACT.

         Whenever this Indenture refers to a provision of the Trust Indenture
Act, the provision is incorporated by reference in and made a part of this
Indenture. The following Trust Indenture Act terms used in this Indenture
have the following meanings:

         "Bankruptcy Act" means the United States Bankruptcy Code of Title 11
of the United States Code, as amended from time to time.

         "Indenture securities" means the Securities.

         "Indenture security holder" means a Holder.

         "Indenture to be qualified" means this Indenture.

         "Indenture trustee" or "institutional trustee" means the Trustee.

         "Obligor" on the indenture securities means the Company or any other
obligor on the Securities.

         All terms used in this Indenture that are defined by the Trust
Indenture Act, defined by the Trust Indenture Act by reference to another
statute or defined by Commission rule under the Trust Indenture Act and not
otherwise defined herein have the meanings assigned to them therein.

                                       7
<Page>

SECTION 103.      COMPLIANCE CERTIFICATES AND OPINIONS.

         Except as otherwise expressly provided by this Indenture, upon any
application or request by the Company to the Trustee to take any action under
any provision of this Indenture, the Company shall furnish to the Trustee an
Officers' Certificate stating that all conditions precedent, if any
(including any covenants the compliance with which constitutes a condition
precedent, provided for in this Indenture 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, if any (including any
covenants the compliance with which constitutes a condition precedent) have
been complied with, except that in the case of any such application or
request as to which the furnishing of such documents is specifically required
by any provision of this Indenture relating to such particular application or
request, no additional certificate or opinion need be furnished.

         Every certificate or opinion with respect to compliance with a
condition or covenant provided for in this Indenture shall include:

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

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

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

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

SECTION 104.      FORM OF DOCUMENTS DELIVERED TO TRUSTEE.

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

         Any certificate or opinion of an officer of the Company may be
based, insofar as it relates to legal matters, upon a certificate or opinion
of, or representations by, counsel, unless such officer knows, or in the
exercise of reasonable care should know, that the certificate or opinion or
representations with respect to the matters upon which his certificate or
opinion is based are erroneous. Any such certificate or Opinion of Counsel
may be based, insofar as it relates to factual matters, upon a certificate or
opinion of, or representations by, an officer or officers of the Company
stating that the information with respect to such factual matters is in the
possession of the Company, unless such counsel knows, or in the exercise of
reasonable care should know, that the certificate or opinion or
representations with respect to such matters are erroneous.

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

SECTION 105.      ACTS OF HOLDERS; RECORD DATES.

                  (a) Any request, demand, authorization, direction, notice,
         consent, waiver or other action provided by this Indenture to be given
         or taken by Holders may be embodied in and evidenced by one or more
         instruments of substantially similar tenor signed by such Holders in
         person or by an agent duly appointed in writing. Except as herein
         otherwise expressly provided, such action shall become effective

                                       8
<Page>

         when such instrument or instruments or record thereof or both are
         delivered to the Trustee and, where it is hereby expressly required,
         to the Company. Such instrument or instruments and any such record (and
         the action embodied therein and evidenced thereby) are herein sometimes
         referred to as the "Act" of the Holders signing such instrument or
         instruments and so voting at any such meeting. Proof of execution of
         any such instrument or of a writing appointing any such agent, or the
         holding of any Person of a Security, shall be sufficient for any
         purpose of this Indenture and (subject to Section 601) conclusive in
         favor of the Trustee and the Company, if made in the manner provided in
         this Section. The record of any meeting of Holders of Securities shall
         be proved in the manner provided in Section 1406.

         The Company may set in advance a record date for purposes of
determining the identity of Holders of Securities entitled to vote or consent
to any action by vote or consent authorized or permitted under this
Indenture. If a record date is fixed, those Persons who were Holders of
Outstanding Securities at such record date (or their duly designated
proxies), and only those Persons, shall be entitled with respect to such
Securities to take such action by vote or consent or to revoke any vote or
consent previously given, whether or not such Persons continue to be Holders
after such record date. Promptly after any record date is set pursuant to
this paragraph, the Company, at its own expense, shall cause notice thereof
to be given to the Trustee in writing in the manner provided in Section 106
and to the relevant Holders as set forth in Section 107.

                  (b) The fact and date of the execution by any Person of any
         such instrument or writing may be proved by the affidavit of a witness
         of such execution or by a certificate of a notary public or other
         officer authorized by law to take acknowledgments of deeds, certifying
         that the individual signing such instrument or writing acknowledged to
         him the execution thereof. Where such execution is by a signer acting
         in a capacity other than his individual capacity, such certificate or
         affidavit shall also constitute sufficient proof of his authority. The
         fact and date of the execution of any such instrument or writing, or
         the authority of the Person executing the same, may also be proved in
         any other manner which the Trustee deems sufficient.

                  (c) The principal amount and serial numbers of Securities held
         by any Person, and the date of holding the same, shall be proved by the
         Security Register.

                  (d) Any request, demand, authorization, direction, notice,
         consent, waiver or other Act of the Holder of any Security shall bind
         every future Holder of the same Security and the Holder of every
         Security issued upon the registration of transfer thereof or in
         exchange therefor or in lieu thereof in respect of anything done,
         omitted or suffered to be done by the Trustee or the Company in
         reliance thereon, whether or not notation of such action is made upon
         such Security. Any Holder or subsequent Holder may revoke the request,
         demand, authorization, direction, notice, consent or other Act as to
         his Security or portion of his Security; provided, however, that such
         revocation shall be effective only if the Trustee receives the notice
         of revocation before the date the Act becomes effective.

SECTION 106.      NOTICES, ETC., TO TRUSTEE AND COMPANY.

         Any request, demand, authorization, direction, notice, consent,
waiver or Act of Holders or other document provided or permitted by this
Indenture to be made upon, given or furnished to, or filed with,

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

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

                                       9
<Page>

SECTION 107.      NOTICE TO HOLDERS; WAIVER.

         Where this Indenture provides for notice to Holders of Securities of
any event, such notice shall be sufficiently given (unless otherwise herein
expressly provided) if in writing and mailed, first-class postage prepaid, to
each Holder affected by such event, at the address of such Holder as it
appears in the Security Register, not later than the latest date, and not
earlier than the earliest date, prescribed for the giving of such notice.

         In case by reason of the suspension of regular mail service, or by
reason of any other cause it shall be impracticable to give such notice to
Holders of Securities by mail, then such notification as shall be made with
the approval of the Trustee shall constitute a sufficient notification for
every purpose hereunder. In any case in which notice to Holders of Securities
is given by mail, neither the failure to mail such notice, nor any defect in
any notice so mailed, to any particular Holder of a Security, shall affect
the sufficiency of such notice with respect to other Holders of Securities.

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

SECTION 108.      CONFLICT WITH TRUST INDENTURE ACT.

         If any provision hereof limits, qualifies or conflicts with any
provision of the Trust Indenture Act (or conflicts with another provision
hereof which is required to be included in this Indenture by any of the
provisions of the Trust Indenture Act), such provision of the Trust Indenture
Act (or such other provision hereof which is required by the Trust Indenture
Act) shall control. If any provision of this Indenture modifies or excludes
any provision of the Trust Indenture Act which may be so modified or
excluded, the former provision shall be deemed to apply to this Indenture as
so modified or to be excluded.

SECTION 109.      EFFECT OF HEADINGS AND TABLE OF CONTENTS.

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

SECTION 110.      SUCCESSORS AND ASSIGNS.

         All covenants and agreements in this Indenture by the Company shall
bind its successors and assigns, whether so expressed or not.

SECTION 111.      SEPARABILITY CLAUSE.

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

SECTION 112.      BENEFITS OF INDENTURE.

         Nothing in this Indenture or in the Securities, express or implied,
shall give to any Person, other than the parties hereto and their successors
hereunder, any Authenticating Agent, Paying Agent and Security Registrar, and
the Holders and holders of any Senior Indebtedness, any benefit or any legal
or equitable right, remedy or claim under this Indenture.

SECTION 113.      GOVERNING LAW.

         This Indenture and the Securities shall be governed by and construed
in accordance with the laws of the State of New York, but without giving
effect to applicable principles of conflicts of law to the extent the
application of the laws of another jurisdiction would be required thereby.

                                       10
<Page>

SECTION 114.      LEGAL HOLIDAYS.

         In any case where any Interest Payment Date, Redemption Date or
Stated Maturity of any Security shall not be a Business Day at any Place of
Payment, then (notwithstanding any other provision of this Indenture or of
the Securities) payment of principal and interest (and premium and Additional
Amounts, if any) need not be made at such Place of Payment on such date, but
may be made on the next succeeding Business Day at such Place of Payment with
the same force and effect as if made on the Interest Payment Date or
Redemption Date, or at the Stated Maturity, provided that no interest shall
accrue with respect to such payment for the period from and after such
Interest Payment Date, Redemption Date or Stated Maturity, as the case may be.

SECTION 115.      CORPORATE OBLIGATION.

         No recourse may be taken, directly or indirectly, against any
incorporator, subscriber to the capital stock, stockholder, officer, director
or employee of the Company or the Trustee or of any predecessor or successor
of the Company or the Trustee with respect to the Company's obligations on
the Securities or the obligations of the Company or the Trustee under this
Indenture or any certificate or other writing delivered in connection
herewith.

                                  ARTICLE TWO
                                 SECURITY FORMS

SECTION 201.      FORMS GENERALLY.

         The Securities of each series shall be in fully registered form and
in substantially such form or forms (including temporary or permanent global
form) as shall be established by or pursuant to a Board Resolution or in one
or more indentures supplemental hereto, in each case with such appropriate
insertions, omissions, substitutions and other variations as are required or
permitted by this Indenture and may have such letters, numbers or other marks
of identification and such legends or endorsements placed thereon as may be
required to comply with the rules of any securities exchange or as may,
consistently herewith, be determined by the officers executing such
Securities, as evidenced by their execution of the Securities. If temporary
Securities of any series are issued in global form as permitted by Section
304, the form thereof shall be established as provided in the preceding
sentence. A copy of the Board Resolution establishing the form or forms of
Securities of any series (or any such temporary global Security) 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 Company Order
contemplated by Section 303 for the authentication and delivery of such
Securities (or any such temporary global Security).

         The definitive Securities shall be printed, lithographed or engraved
on steel engraved borders or may be produced in any other manner, all as
determined by the officers executing such Securities, as evidenced by their
execution thereof.

SECTION 202.      FORM OF TRUSTEE'S CERTIFICATE OF AUTHENTICATION.

         The Trustee's certificate of authentication shall be in
substantially the following form:

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

                             [_____________________________________________],
                                                as Trustee

                             By ____________________________________________
                                      Authorized Signatory".

                                       11
<Page>

SECTION 203.      SECURITIES IN GLOBAL FORM.

         If Securities of a series are issuable in global form, as contemplated
by Section 301, then, notwithstanding clause (10) of Section 301 and the
provisions of Section 302, any such Security shall represent such of the
Outstanding Securities of such series as shall be specified therein and may
provide that it shall represent the aggregate amount of Outstanding Securities
from time to time endorsed thereon and that the aggregate amount of Outstanding
Securities represented thereby may from time to time be reduced to reflect
exchanges. Any endorsement of a Security in global form to reflect the amount,
or any increase or decrease in the amount, of Outstanding Securities
represented thereby shall be made by the Trustee (i) in such manner and upon
instructions given by such Person or Persons as shall be specified in such
Security or in a Company Order to be delivered to the Trustee pursuant to
Section 303 or Section 304 OR (ii) otherwise in accordance with written
instructions as is customary for the Depositary for such Security, from such
Depositary or its nominee on behalf of any Person having a beneficial interest
in such Security. Subject to the provisions of Section 303 and, if applicable,
Section 304, the Trustee shall deliver and redeliver any Security in permanent
global form in the manner and upon instructions given by the Person or Persons
specified in such Security or in the applicable Company Order. With respect to
the Securities of any series that are represented by a Security in global form,
the Company authorizes the execution and delivery by the Trustee of a letter of
representations or other similar agreement or instrument in the form
customarily provided for by the Depositary appointed with respect to such
global Security. Any Security in global form may be deposited with the
Depositary or its nominee, or may remain in the custody of the Security
Custodian therefor pursuant to a FAST Balance Certificate Agreement or similar
agreement between the Trustee and the Depositary. If a Company Order pursuant
to Section 303 or Section 304 has been, or simultaneously is, delivered, any
instructions by the Company with respect to endorsement or delivery or
redelivery of a Security in global form shall be in writing but need not comply
with Section 103 and need not be accompanied by an Opinion of Counsel.

         Members of, or participants in, the Depositary ("Agent Members") shall
have no rights under this Indenture with respect to any Security issued in
global form held on their behalf by the Depositary, or the Security Custodian
as its custodian, or under such global Security, and the Depositary may be
treated by the Company, the Security Custodian and any agent of the Company or
the Trustee as the absolute owner of such global Security for all purposes
whatsoever. Notwithstanding the foregoing, (i) the registered holder of a
Security of any series issued in global form may grant proxies and otherwise
authorize any Person, including Agent Members and Persons that may hold
interests through Agent Members, to take any action that a Holder of such
series is entitled to take under this Indenture or the Securities of such
series and (ii) nothing herein shall prevent the Company, the Security
Custodian or any agent of the Company or the Security Custodian, from giving
effect to any written certification, proxy or other authorization furnished by
the Depositary or shall impair, as between the Depositary and its Agent
Members, the operation of customary practices governing the exercise of the
rights of a beneficial owner of any Security.

         Notwithstanding Section 305, except as otherwise specified as
contemplated by Section 301, any permanent global Security shall be
exchangeable only as provided in this paragraph. If the beneficial owners of
interests in a permanent global Security are entitled to exchange such interest
for Securities of such series and of like tenor and principal amount of another
authorized form and denomination, as specified as contemplated by Section 301,
then without unnecessary delay but in any event not later than the earliest
date on which such interests may be so exchanged, the Company shall deliver to
the Trustee definitive Securities of that series in an aggregate principal
amount equal to the principal amount of such permanent global Security,
executed by the Company. On or after the earliest date on which such interests
may be so exchanged, such permanent global Security shall be surrendered from
time to time in accordance with instructions given to the Trustee and the
Depositary (which instructions shall be in writing but need not comply with
Section 103 or be accompanied by an Opinion of Counsel) by the Depositary or
such other depositary as shall be specified in the Company Order with respect
thereto to the Trustee, as the Company's agent for such purpose, to be
exchanged, in whole or in part, for definitive Securities of the same series
without charge and the Trustee shall authenticate and deliver, in exchange for
each portion of such permanent global Security, a like aggregate principal
amount of other definitive Securities of the same series of authorized
denominations and of like tenor as the portion of such permanent global
Security to be exchanged; provided, however, that no such exchanges may occur
during a period beginning at the opening of business 15 days before any
selection of Securities of that series is to be redeemed and ending on the
relevant Redemption Date. Promptly following any such exchange in part, such
permanent global Security marked to evidence the partial exchange shall be
returned by the Trustee to the Depositary or such other depositary referred to
above in accordance with the instructions of the Company referred to above. If
a definitive Security is issued in exchange for any portion

                                        12
<Page>

of a permanent global Security after the close of business at the office or
agency where such exchange occurs on (i) any Regular Record Date and before the
opening of business at such office or agency on the relevant Interest Payment
Date, or (ii) any Special Record Date and before the opening of business at
such office or agency on the related proposed date for payment of Defaulted
Interest, interest or Defaulted Interest, as the case may be, will not be
payable on such Interest Payment Date or proposed date for payment, as the case
may be, in respect of such Security, but will be payable on such Interest
Payment Date or proposed for payment, as the case may be, only to the Person to
whom interest in respect of such portion of such permanent global Security is
payable in accordance with the provisions of this Indenture.

         Notwithstanding Section 305, except as otherwise specified as
contemplated by Section 301, transfers of a Security issued in global form
shall be limited to transfers of such global Security in whole, but not in
part, to the Depositary, its successors or their respective nominees. Interests
of beneficial owners in a Security issued in global form may be transferred in
accordance with the rules and procedures of the Depositary. Securities of any
series shall be transferred to all beneficial owners of a global Security of
such series in exchange for their beneficial interests in that global Security
if, and only if, either (1) the Depositary notifies the Company that it is
unwilling or unable to continue as Depositary for the global Security of such
series and a successor Depositary is not appointed by the Company within 90
days of such notice, (2) an Event of Default has occurred with respect to such
series and is continuing and the Security Registrar has received a request from
the Depositary or the Trustee to issue Securities of such series in lieu of all
or a portion of that global Security (in which case the Company shall deliver
Securities of such series within 30 days of such request) or (3) the Company
determines not to have the Securities of such series represented by a global
Security.

         In connection with any transfer of a portion of the beneficial
interest in a global Security of any series to beneficial owners pursuant to
this Section 203, the Security Registrar shall reflect on its books and records
the date and a decrease in the principal amount of the global Security of that
series in an amount equal to the principal amount of the beneficial interest in
the global Security of that series to be transferred, and the company shall
execute, and the Trustee upon receipt of a Company Order for the authentication
and delivery of Securities of that series shall authenticate and deliver, one
or more Securities of the same series of like tenor and amount.

         In connection with the transfer of all the beneficial interests in a
global Security of any series to beneficial owners pursuant to this Section
203, the global Security shall be deemed to be surrendered to the Trustee for
cancellation, and the Company shall execute, and the Trustee shall authenticate
and deliver, to each beneficial owner identified by the Depositary in exchange
for its beneficial interest in the global Security, an equal aggregate
principal amount of Securities of that series of authorized denominations.

         Neither the Company nor the Trustee will have any responsibility or
liability for any aspect of the records relating to, or payments made on
account of, Securities of any series by the Depositary, or for maintaining,
supervising or reviewing any records of the Depositary relating to such
Securities. Neither the Company nor the Trustee shall be liable for any delay
by the related global Security Holder or the Depositary in identifying the
beneficial owners, and each such Person may conclusively rely on, and shall be
protected in relying on, instructions from such global Security Holder or the
Depositary for all purposes (including with respect to the registration and
delivery, and the respective principal amounts, of the Securities to be issued).

         The provisions of the last sentence of Section 303 shall apply to any
Security in global form if such Security was never issued and sold by the
Company and the Company delivers to the Trustee the Security in global form
together with written instructions (which need not comply with Section 103 and
need not be accompanied by an Opinion of Counsel) with regard to the reduction
in the principal amount of Securities represented thereby, together with the
written statement contemplated by the last sentence of Section 303.

         Notwithstanding the provisions of Section 201 and Section 307, unless
otherwise specified as contemplated by Section 301, payment of principal of
(and premium, if any) and interest on and any Additional Amounts with respect
to any Security in permanent global form shall be made to the Person or Persons
specified therein.

         Notwithstanding the provisions of Section 308 and except as provided
in the preceding paragraph, the Company, the Trustee and any agent of the
Company or of the Trustee shall treat a Person as the Holder of such

                                        13
<Page>

principal amount of Outstanding Securities represented by a global Security as
shall be specified in a written statement, if any, of the Holder of such global
Security, which is produced to the Security Registrar by such Holder.

         Global Securities may be issued in either temporary or permanent form.
Permanent global Securities will be issued in definitive form.

                                 ARTICLE THREE
                                 THE SECURITIES

SECTION 301.      AMOUNT UNLIMITED; ISSUABLE IN SERIES.

         The aggregate principal amount of Securities which may be
authenticated and delivered under this Indenture is unlimited.

         The Securities may be issued in one or more series. There shall be
established in or pursuant to a Board Resolution, and set forth in an Officers'
Certificate or in a Company Order, or established in one or more indentures
supplemental hereto, prior to the issuance of Securities of any series,

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

                  (2) any limit upon the aggregate principal amount of the
         Securities of the series which may be authenticated and delivered under
         this Indenture (except for Securities authenticated and delivered upon
         registration of transfer of, or in exchange for, or in lieu of, other
         Securities of the series pursuant to Section 303, Section 305, Section
         306, Section 906 or Section 1107);

                  (3) whether any Securities of the series are to be issuable
         initially in temporary global form and whether any Securities of the
         series are to be issuable in permanent global form, and, if so, whether
         beneficial owners of interests in any such global Security may exchange
         such interests for Securities of such series and of like tenor of any
         authorized form and denomination and the circumstances under which any
         such exchanges may occur, if other than in the manner provided in
         Section 203, and the Depositary for any global Security or Securities
         of such series;

                  (4) the manner in which any interest payable on a temporary
         global Security on any Interest Payment Date will be paid if other than
         in the manner provided in Section 304;

                  (5) the date or dates on which the principal of (and premium,
         if any, on) the Securities of the series is payable or the method of
         determination thereof;

                  (6) the rate or rates, or the method of determination thereof,
         at which the Securities of the series shall bear interest, if any,
         whether and under what circumstances Additional Amounts with respect to
         such Securities shall be payable, the date or dates from which such
         interest shall accrue, the Interest Payment Dates on which such
         interest shall be payable and, if other than as set forth in Section
         101, the Regular Record Date for the interest payable on any Securities
         on any Interest Payment Date;

                  (7) the place or places where, subject to the provisions of
         Section 1002, the principal of (and premium, if any), any interest on
         and any Additional Amounts with respect to the Securities of the series
         shall be payable;

                  (8) the period or periods within which, the price or prices
         (whether denominated in cash, securities or otherwise) 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, if the
         Company is to have that option, and the manner in which the Company
         must exercise any such option, if different from those set forth
         herein;

                  (9) the obligation, if any, of the Company to redeem or
         purchase Securities of the series

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         pursuant to any sinking fund or analogous provisions or at the option
         of a Holder thereof and the period or periods within which, the price
         or prices (whether denominated in cash, securities or otherwise) 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;

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

                  (11) the currency or currencies (including composite
         currencies) if other than Dollars, or the form, including equity
         securities, other debt securities (including Securities), warrants or
         any other securities or property of the Company or any other Person, in
         which payment of the principal of (and premium, if any), any interest
         on and any Additional Amounts with respect to the Securities of the
         series shall be payable;

                  (12) if the principal of (and premium, if any) or interest on
         or any Additional Amounts with respect to the Securities of the series
         are to be payable, at the election of the Company or a Holder thereof,
         in a currency or currencies (including composite currencies) other than
         that in which the Securities are stated to be payable, the currency or
         currencies (including composite currencies) in which payment of the
         principal of (and premium, if any) and interest on, and any Additional
         Amounts with respect to, Securities of such series as to which such
         election is made shall be payable, and the periods within which and the
         terms and conditions upon which such election is to be made;

                  (13) if the amount of payments of principal of (and premium,
         if any), any interest on and any Additional Amounts with respect to the
         Securities of the series may be determined with reference to any
         commodities, currencies or indices, values, rates or prices or any
         other index or formula, the manner in which such amounts shall be
         determined;

                  (14) if other than the entire 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 502;

                  (15) any additional means of satisfaction and discharge of
         this Indenture with respect to Securities of the series pursuant to
         Section 401, any additional conditions to discharge pursuant to Section
         401 or Section 403 and the application, if any, of Section 403;

                  (16) any deletions or modifications of or additions to the
         definitions set forth in Section 101, the Events of Default set forth
         in Section 501 or covenants of the Company set forth in Article Ten
         pertaining to the Securities of the series;

                  (17) if the Securities of the series are to be convertible
         into or exchangeable for equity securities, other debt securities
         (including Securities), warrants or any other securities or property of
         the Company or any other Person, at the option of the Company or the
         Holder or upon the occurrence of any condition or event, the terms and
         conditions for such conversion or exchange; and

                  (18) any other terms of the series (which terms shall not be
         inconsistent with the provisions of this Indenture except as permitted
         by Section 901(a)).

         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 the Board Resolution referred to above and (subject to Section 303)
set forth, or determined in the manner provided, in the Officers' Certificate
referred to above or in any such indenture supplemental hereto.

         At the option of the Company, interest on the Securities of any series
that bears interest may be paid by mailing a check to the address of any Holder
as such address shall appear in the Security Register.

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         If any of the terms of the series are established by action taken
pursuant to a Board Resolution, a copy of an appropriate record of such action
together with such Board Resolution 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 setting forth the terms of the series.

         The Securities shall be subordinated in right of payment to Senior
Indebtedness as provided in ARTICLE Thirteen.

SECTION 302.      DENOMINATIONS.

         The Securities of each series shall be issuable in such denominations
as shall be specified as contemplated by Section 301. In the absence of any
such provisions with respect to the Securities of any series, the Securities of
such series denominated in Dollars shall be issuable in denominations of $1,000
and any integral multiple thereof. Unless otherwise provided as contemplated by
Section 301 with respect to any series of Securities, any Securities of a
series denominated in a currency other than Dollars shall be issuable in
denominations that are the equivalent, as determined by the Company by
reference to the noon buying rate in The City of New York for cable transfers
for such currency, as such rate is reported or otherwise made available by the
Federal Reserve Bank of New York, on the applicable issue date for such
Securities, of $1,000 and any integral multiple thereof.

SECTION 303.      EXECUTION, AUTHENTICATION, DELIVERY AND DATING.

         The Securities shall be executed on behalf of the Company by its
Chairman of the Board, its President, its Treasurer or one of its Vice
Presidents, under its corporate seal reproduced thereon or affixed thereto
attested by its Secretary or one of its Assistant Secretaries. The signature of
any of these officers on the Securities may be manual or facsimile.

         Securities bearing the manual or facsimile signatures of individuals
who were at any time the proper officers of the Company shall bind the Company,
notwithstanding that such individuals or any of them have ceased to hold such
offices prior to the authentication and delivery of such Securities or did not
hold such offices at the date of such Securities.

         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 Company Order
for the authentication and delivery of such Securities, and the Trustee in
accordance with the Company Order shall authenticate and deliver such
Securities as in this Indenture provided and not otherwise.

         If the form or terms of the Securities of the series have been
established in or pursuant to one or more Board Resolutions or any other method
permitted by Section 201 and Section 301, 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 601) shall be fully protected in relying upon, an Opinion of Counsel
stating,

                  (a) if the form of such Securities has been established by or
         pursuant to Board Resolution as permitted by Section 201, that such
         form has been established in conformity with the provisions of this
         Indenture;

                  (b) if the terms of such Securities have been established by
         or pursuant to Board Resolution as permitted by Section 301, that such
         terms have been established in conformity with the provisions of this
         Indenture; and

                  (c) that such Securities, when authenticated and delivered by
         the Trustee and issued by the Company in the manner and subject to any
         conditions specified in such Opinion of Counsel, will constitute legal,
         valid and binding obligations of the Company, enforceable in accordance
         with their terms, except as such enforcement is subject to the effect
         of (i) bankruptcy, insolvency, fraudulent conveyance, reorganization or
         other laws relating to or affecting creditors' rights and (ii) general
         principles of equity

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         (regardless of whether such enforcement is considered in a proceeding
         in equity or at law).

If such form or terms have been so established, 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
which is not reasonably acceptable to the Trustee.

         Each Security shall be dated the date of its authentication.

         No Security shall be entitled to any benefit under this Indenture or
be valid or obligatory for any purpose unless there appears on such Security, a
certificate of authentication substantially in the form provided for herein
executed by the Trustee by manual signature, and such certificate upon any
Security shall be conclusive evidence, and the only evidence, that such
Security has been duly authenticated and delivered hereunder. Notwithstanding
the foregoing, if any Security shall have been authenticated and delivered
hereunder but never issued and sold by the Company, and the Company shall
deliver such Security to the Trustee for cancellation as provided in Section
309 together with a written statement (which need not comply with Section 103
and need not be accompanied by an Opinion of Counsel) stating that such
Security has never been issued and sold by the Company, for all purposes of
this Indenture such Security shall be deemed never to have been authenticated
and delivered hereunder and shall never be entitled to the benefits of this
Indenture.

SECTION 304.      TEMPORARY SECURITIES.

         Pending the preparation of definitive Securities of any series, the
Company may execute, and upon Company Order the Trustee shall authenticate and
deliver, temporary Securities which are printed, lithographed, typewritten,
mimeographed or otherwise produced, in any authorized denomination,
substantially of the tenor of the definitive Securities in lieu of which they
are issued, in registered form and with such appropriate insertions, omissions,
substitutions and other variations as the officers of the Company executing
such Securities may determine, as evidenced by their execution of such
Securities.

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

         All Outstanding temporary Securities of any series shall in all
respects be entitled to the same benefits under this Indenture as definitive
Securities of the same series and of like tenor authenticated and delivered
hereunder.

SECTION 305.      REGISTRATION, REGISTRATION OF TRANSFER AND EXCHANGE.

         The Company shall cause to be kept for each series of Securities at
one of the offices or agencies maintained pursuant to Section 1002 a register
(the register maintained in such office and in any other office or agency of
the Company in a Place of Payment being herein sometimes collectively referred
to as the "Security Register") in which, subject to such reasonable regulations
as it may prescribe, the Company shall provide for the registration of
Securities and of transfers of Securities of such series. The Trustee is hereby
initially appointed "Security Registrar" for the purpose of registering
Securities and transfers of Securities as herein provided.

         Except as set forth in Section 203 or as may be provided pursuant to
Section 301, upon surrender for registration of transfer of any Security of any
series at the office or agency in a Place of Payment for that series, the
Company shall execute, and the Trustee shall authenticate and deliver, in the
name of the designated transferee or

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transferees, one or more new Securities of the same series and of like tenor,
of any authorized denominations and of a like aggregate principal amount.

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

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

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

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

         The Company shall not be required (i) to issue, register the transfer
of or exchange Securities of any series during a period beginning at the
opening of business 15 days before the day of the mailing of a notice of
redemption of Securities of such series selected for redemption and ending at
the close of business on the day of the mailing of the relevant notice of
redemption or (ii) to register the transfer of or exchange any Security so
selected for redemption in whole or in part, except the unredeemed portion of
any Security being redeemed in part.

SECTION 306.      MUTILATED, DESTROYED, LOST AND STOLEN SECURITIES.

         If any mutilated Security is surrendered to the Trustee, the Company
shall execute and the Trustee shall authenticate and deliver in exchange
therefor a new Security of the same series and of like tenor and principal
amount and bearing a number not contemporaneously outstanding.

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

         In case any such mutilated, destroyed, lost or stolen Security has
become or is about to become due and payable, the Company in its discretion
may, instead of issuing a new Security, pay such Security.

         Upon the issuance of any new Security under this Section, 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 any fees and expenses of the Trustee) connected therewith.

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

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

SECTION 307.      PAYMENT OF INTEREST; INTEREST RIGHTS PRESERVED.

         Interest on any Security which is payable, and is punctually paid or
duly provided for, on any Interest Payment Date shall be paid to the Person in
whose name that Security (or one or more Predecessor Securities) is registered
at the close of business on the Regular Record Date for such interest. Unless
otherwise provided with respect to the Securities of any series, payment of
interest may be made at the option of the Company by check mailed or delivered
to the address of any Person entitled thereto as such address shall appear in
the Security Register.

         Any interest on any Security of any series which is payable, but is
not punctually paid or duly provided for, on any Interest Payment Date (herein
called "Defaulted Interest") shall forthwith cease to be payable to the Holder
on the relevant Regular Record Date by virtue of having been such Holder, and
such Defaulted Interest may be paid by the Company, at its election in each
case, as provided in clause (1) or (2) below:

                  (1) The Company may elect to make payment of any Defaulted
         Interest to the Persons in whose names the Securities of such series
         (or their respective Predecessor Securities) are registered at the
         close of business on a Special Record Date for the payment of such
         Defaulted Interest, which shall be fixed in the following manner. The
         Company shall notify the Trustee in writing of the amount of Defaulted
         Interest proposed to be paid on each Security of such series 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 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 be not more than 15 days and not less than 10 days
         prior to the date of the proposed payment and not less than 10 days
         after the receipt by the Trustee of the notice of the proposed payment.
         The Trustee shall promptly notify the 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 Holder of Securities of such series at his address as it
         appears in the Security Register, not less than 10 days prior to such
         Special Record Date. The Trustee may, in its discretion, in the name
         and at the expense of the Company, cause a similar notice to be
         published at least once in an Authorized Newspaper, but such
         publication shall not be a condition precedent to the establishment of
         such Special Record Date. Notice of the proposed payment of such
         Defaulted Interest and the Special Record Date therefor having been so
         mailed, such Defaulted Interest shall be paid to the Persons in whose
         names the Securities of such series (or their respective Predecessor
         Securities) are registered at the close of business on such Special
         Record Date and shall no longer be payable pursuant to the following
         clause (2).

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

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

SECTION 308.      PERSONS DEEMED OWNERS.

         Prior to due presentment of a Security for registration of transfer,
the Company, the Trustee and any agent of the Company or the Trustee may treat
the Person in whose name such Security is registered as the owner of such
Security for the purpose of receiving payment of principal of (and premium, if
any) and (subject to Section 305 and

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Section 307) interest on such Security and for all other purposes whatsoever,
whether or not such Security be overdue, and neither the Company, the Trustee
nor any agent of the Company or the Trustee shall be affected by notice to the
contrary.

SECTION 309.      CANCELLATION.

         All Securities surrendered for payment, redemption, registration of
transfer or exchange or for credit against any sinking fund payment shall, if
surrendered to any Person other than the Trustee, be delivered to the Trustee.
All Securities so delivered shall be promptly cancelled by the Trustee. The
Company may at any time deliver to the Trustee for cancellation any Securities
previously authenticated and delivered hereunder which the Company may have
acquired in any manner whatsoever, and all Securities so delivered shall be
promptly cancelled by the Trustee. No Securities shall be authenticated in lieu
of or in exchange for any Securities cancelled as provided in this Section,
except as expressly permitted by this Indenture. All cancelled Securities held
by the Trustee shall be disposed of as directed by a Company Order; provided
that the Trustee shall not be required to destroy such Securities.

SECTION 310.      COMPUTATION OF INTEREST.

         Except as otherwise specified as contemplated by Section 301 for
Securities of any series, interest on the Securities of each series shall be
computed on the basis of a year of twelve 30-day months.

SECTION 311.      CUSIP NUMBERS.

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

                                  ARTICLE FOUR
                           SATISFACTION AND DISCHARGE

SECTION 401.      SATISFACTION AND DISCHARGE OF INDENTURE.

         This Indenture shall upon Company Request cease to be of further
effect with respect to Securities of a series, and the Trustee, at the expense
of the Company, shall execute proper instruments acknowledging satisfaction and
discharge of this Indenture with respect to Securities of such series, when

                  (1)      either

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

                           (B) with respect to all Outstanding Securities of
                  such series not theretofore delivered to the Trustee for
                  cancellation, the Company has deposited or caused to be
                  deposited with the Trustee as trust funds, under the terms of
                  an irrevocable trust agreement in form and substance
                  satisfactory to the Trustee, money or U.S. Government
                  Obligations maturing as to principal and interest in such
                  amounts and at such times as will (together with the income to
                  accrue thereon and without consideration of any reinvestment
                  thereof) be sufficient to pay and discharge (with such
                  delivery in trust to be for the stated purpose of paying and
                  discharging) the entire indebtedness on

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                  all Outstanding Securities of such series not theretofore
                  delivered to the Trustee for cancellation for principal (and
                  premium and Additional Amounts, if any) and interest to the
                  Stated Maturity or any Redemption Date contemplated by the
                  penultimate paragraph of this Section, as the case may be; or

                           (C) the Company has properly fulfilled such other
                  means of satisfaction and discharge as is specified, as
                  contemplated by Section 301, to be applicable to the
                  Securities of such series;

                  (2) the Company has paid or caused to be paid all other sums
         payable hereunder by the Company with respect to the Outstanding
         Securities of such series;

                  (3) the Company has complied with any other conditions
         specified pursuant to Section 301 to be applicable to the discharge of
         Securities of such series pursuant to this Section 401;

                  (4) the Company has delivered to the Trustee an Officers'
         Certificate and an Opinion of Counsel, each stating that all conditions
         precedent herein provided for relating to the satisfaction and
         discharge of this Indenture with respect to the Outstanding Securities
         of such series have been complied with;

                  (5) if the conditions set forth in Section 401(1)(A) have not
         been satisfied, and unless otherwise specified pursuant to Section 301
         for the Securities of such series, the Company has delivered to the
         Trustee an Opinion of Counsel to the effect that the Holders of
         Securities of such series will not recognize income, gain or loss for
         United States federal income tax purposes as a result of such deposit,
         satisfaction and discharge and will be subject to United States federal
         income tax on the same amount and in the same manner and at the same
         time as would have been the case if such deposit, satisfaction and
         discharge had not occurred; and

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

         For the purposes of this Indenture, "U.S. Government Obligations"
means direct non-callable obligations of, or non-callable obligations the
payment of principal of and interest on which is guaranteed by, the United
States of America, or to the payment of which obligations or guarantees the
full faith and credit of the United States of America is pledged, or beneficial
interests in a trust the corpus of which consists exclusively of money or such
obligations or a combination thereof.

         If any Outstanding Securities of such series are to be redeemed prior
to their Stated Maturity, whether pursuant to any optional redemption
provisions or in accordance with any mandatory sinking fund requirement, the
trust agreement referred to in subclause (B) of clause (1) of this Section
shall provide therefor and the Company shall make such arrangements as are
satisfactory to the Trustee for the giving of notice of redemption by the
Trustee in the name, and at the expense, of the Company.

         Notwithstanding the satisfaction and discharge of this Indenture with
respect to the Outstanding Securities of such series pursuant to this Section
401, the obligations of the Company to the Trustee under Section 607, the
obligations to any Authenticating Agent under Section 614 and, except for a
discharge pursuant to subclause (A) of clause (1) of this Section, the
obligations of the Company under Section 305, Section 306, Section 404, Section
610, Section 701, Section 1001 and Section 1002 and the obligations of the
Trustee under Section 402 and the last paragraph of Section 1003 shall survive.

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SECTION 402.      APPLICATION OF TRUST MONEY.

         Subject to the provisions of the last paragraph of Section 1003, all
money deposited with the Trustee pursuant to Section 401 shall be held in trust
and applied by it, in accordance with the provisions of the Securities, and
this Indenture, to the payment, either directly or through any Paying Agent
(including the Company acting as its own Paying Agent) as the Trustee may
determine, to the Persons entitled thereto, of the principal (and premium, if
any) and interest and Additional Amounts for the payment of which such money
has been deposited with the Trustee.

SECTION 403.      DISCHARGE OF LIABILITY ON SECURITIES OF ANY SERIES.

         If this Section is specified, as contemplated by Section 301, to be
applicable to Securities of any series, the Company shall be deemed to have
paid and discharged the entire indebtedness on all the Outstanding Securities
of such series, the obligation of the Company under this Indenture and the
Securities of such series to pay the principal of (and premium, if any) and
interest on and any Additional Amounts with respect to Securities of such
series, shall cease, terminate and be completely discharged and the Trustee, at
the expense of the Company, shall execute proper instruments acknowledging such
satisfaction and discharge, when

                  (1) the Company has complied with the provisions of Section
         401 (other than any additional conditions specified pursuant to Section
         301 and Section 401(3) and except that the Opinion of Counsel referred
         to in Section 401(5) shall state that it is based on a ruling by the
         Internal Revenue Service or other change since the date hereof under
         applicable Federal income tax law) with respect to all Outstanding
         Securities of such series,

                  (2) the Company has delivered to the Trustee a Company Request
         requesting such satisfaction and discharge,

                  (3) the Company has complied with any other conditions
         specified pursuant to Section 301 to be applicable to the discharge of
         Securities of such series pursuant to this Section 403, and

                  (4) the Company has delivered to the Trustee an Officers'
         Certificate and an Opinion of Counsel, each stating that all conditions
         precedent herein provided for relating to the discharge of the
         indebtedness on the Outstanding Securities of such series have been
         complied with.

         Upon the satisfaction of the conditions set forth in this Section with
respect to all the Outstanding Securities of any series, the terms and
conditions of such series, including the terms and conditions with respect
thereto set forth in this Indenture, shall no longer be binding upon, or
applicable to, the Company; provided that, the Company shall not be discharged
from any payment obligations in respect of Securities of such series which are
deemed not to be Outstanding under clause (iii) of the definition thereof if
such obligations continue to be valid obligations of the Company under
applicable law or pursuant to Section 305 or Section 306.

SECTION 404.      REINSTATEMENT

         If the Trustee or Paying Agent is unable to apply any money or U.S.
Government Obligations deposited with respect to Securities of any series in
accordance with Section 401 by reason of any legal proceeding or by reason of
any order or judgment of any court or governmental authority enjoining,
restraining or otherwise prohibiting such application, the Company's
obligations under this Indenture with respect to the Securities of such series
and the Securities of such series shall be revived and reinstated as though no
deposit had occurred pursuant to Section 401 until such time as the Trustee or
Paying Agent is permitted to apply all such money or U.S. Government
Obligations in accordance with Section 401; provided, however, that if the
Company has made any payment of principal of (or premium, if any), or interest
on or any Additional Amounts with respect to any Securities because of the
reinstatement of its obligations, the Company shall be subrogated to the rights
of the Holders of such Securities to receive such payment from the money or
U.S. Government Obligations held by the Trustee or Paying Agent.

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                                  ARTICLE FIVE
                                    REMEDIES

SECTION 501.      EVENTS OF DEFAULT.

         "Event of Default", wherever used herein with respect to Securities of
any series, means any one of the following events (whatever the reason for such
Event of Default and whether it shall be occasioned by the provisions of
Article Thirteen or be voluntary or involuntary or be effected by operation of
law or pursuant to any judgment, decree or order of any court or any order,
rule or regulation of any administrative or governmental body) unless it is
either inapplicable to a particular series or it is specifically deleted or
modified in or pursuant to the supplemental indenture or Board Resolution
establishing such series of Securities or in the form of Security for such
series:

                  (1) default in the payment of any interest on or any
         Additional Amounts with respect to any Security of that series when
         such interest or Additional Amounts become due and payable, and
         continuance of such default for a period of 30 days; or

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

                  (3) default in the deposit of any mandatory sinking fund
         payment, when and as due by the terms of a Security of that series and
         continuance of such default for a period of 30 days; or

                  (4) default in the performance or breach of any covenant or
         warranty of the Company in this Indenture (other than a covenant or
         warranty a default in whose performance or whose breach is elsewhere in
         this Section specifically dealt with or which has expressly been
         included in this Indenture solely for the benefit of one or more series
         of Securities other than that series) , and continuance of such default
         or breach for a period of 90 days after there has been given, by
         registered or certified mail, to the Company by the Trustee or to the
         Company and the Trustee by the Holders of at least 25% in principal
         amount of all Outstanding Securities a written notice specifying such
         default or breach and requiring it to be remedied and stating that such
         notice is a "Notice of Default" hereunder; or

                  (5) the entry by a court having jurisdiction in the premises
         of (A) a decree or order for relief in respect of the Company in an
         involuntary case or proceeding under any applicable Federal or State
         bankruptcy, insolvency, reorganization or other similar law or (B) a
         decree or order adjudging the Company a bankrupt or insolvent, or
         approving as properly filed a petition seeking reorganization,
         arrangement, adjustment or composition of or in respect of the Company
         under any applicable Federal or State law, or appointing a custodian,
         receiver, liquidator, assignee, trustee, sequestrator or other similar
         official of the Company or of any substantial part of its property, or
         ordering the winding up or liquidation of its affairs, and the
         continuance of any such decree or order for relief or any such other
         decree or order unstayed and in effect for a period of 90 consecutive
         days; or

                  (6) the commencement by the Company of a voluntary case or
         proceeding under any applicable Federal or State bankruptcy,
         insolvency, reorganization or other similar law or of any other case or
         proceeding to be adjudicated a bankrupt or insolvent, or the consent by
         it to the entry of a decree or order for relief in respect of the
         Company in an involuntary case or proceeding under any applicable
         Federal or State bankruptcy, insolvency, reorganization or other
         similar law or to the commencement of any bankruptcy or insolvency case
         or proceeding against it, or the filing by it, of a petition or answer
         or consent seeking reorganization or relief under any applicable
         Federal or State law, or the consent by it to the filing of such
         petition or to the appointment of or taking possession by a custodian,
         receiver, liquidator, assignee, trustee, sequestrator or similar
         official of the Company or of any substantial part of its property, or
         the making by it of an assignment for the benefit of creditors, or the
         admission by it in writing of its inability to pay its debts generally
         as they become due, or the taking of corporate action by the Company in
         furtherance of any such action; or

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                  (7) any other Event of Default provided with respect to
         Securities of that series.

         Notwithstanding the foregoing provisions of this Section 501, if the
principal of (and premium, if any) or any interest on, or Additional Amounts
with respect to, any Security is payable in a currency or currencies (including
a composite currency) other than Dollars and such currency (or currencies) is
(or are) not available to the Company for making payment thereof due to the
imposition of exchange controls or other circumstances beyond the control of
the Company (a "Conversion Event"), the Company will be entitled to satisfy its
obligations to Holders of the Securities by making such payment in Dollars in
an amount equal to the Dollar equivalent of the amount payable in such other
currency, as determined by the Company by reference to the noon buying rate in
The City of New York for cable transfers for such currency ("Exchange Rate'),
as such Exchange Rate is certified for customs purposes by the Federal Reserve
Bank of New York on the date of such payment, or, if such rate is not then
available, on the basis of the most recently available Exchange Rate.
Notwithstanding the foregoing provisions of this Section 501, any payment made
under such circumstances in Dollars where the required payment is in a currency
other than Dollars will not constitute an Event of Default under this Indenture.

         Promptly after the occurrence of a Conversion Event with respect to
Securities of any series, the Company shall give written notice thereof to the
Trustee; and the Trustee, promptly after receipt of such notice, shall give
notice thereof in the manner provided in Section 107 to the Holders of such
series. Promptly after the making of any payment in Dollars as a result of a
Conversion Event with respect to Securities of any series, the Company shall
give notice in the manner provided in Section 107 to the Holders of such
series, setting forth the applicable Exchange Rate and describing the
calculation of such payments.

SECTION 502.      ACCELERATION OF MATURITY; RESCISSION AND ANNULMENT.

         If an Event of Default with respect to any Securities of any series at
the time Outstanding occurs and is continuing, then in every such case the
Trustee or the Holders of not less than 25% in principal amount of the
Outstanding Securities of (i) the series affected by such default (in the case
of an Event of Default described in clause (1), (2), (3) or (7) of Section 501)
or (ii) all series of Securities (subject to the immediately following
sentence, in the case of an Event of Default described in clause (4) of Section
501) may declare the principal amount (or, if any such Securities are Original
Issue Discount Securities, such portion of the principal amount as may be
specified in the terms of that series) of all of the Securities of the series
affected by such default or all series, as the case may be, to be due and
payable immediately, by a notice in writing to the Company (and to the Trustee
if given by Holders) , and upon any such declaration such principal amount (or
specified amount) shall become immediately due and payable. If an Event of
Default described in clause (5) or (6) of Section 501 shall occur, the
principal amount of the Outstanding Securities of all series IPSO FACTO shall
become and be immediately due and payable without any declaration or other act
on the part of the Trustee or any Holder.

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

                  (1) the Company has paid or deposited with the Trustee a sum
         sufficient to pay

                           (A) all overdue interest on, and any Additional
                  Amounts with respect to, all Securities of that series (or of
                  all series, as the case may be);

                           (B) the principal of (and premium, if any, on) any
                  Securities of that series (or of all series, as the case may
                  be) which have become due otherwise than by such declaration
                  of acceleration and interest thereon at the rate or rates
                  prescribed therefor in such Securities (in the case of
                  Original Issue Discount Securities, the Securities' Yield to
                  Maturity);

                           (C) to the extent that payment of such interest is
                  lawful, interest upon overdue interest and any Additional
                  Amounts at the rate or rates prescribed therefor in such
                  Securities (in

                                        24
<Page>

                  the case of Original Issue Discount Securities, the
                  Securities' Yield to Maturity) , and

                            (D) all sums paid or advanced by the Trustee
                  hereunder and the reasonable compensation, expenses,
                  disbursements and advances of the Trustee, its agents and
                  counsel; and

                  (2) all Events of Default with respect to Securities of that
         series (or of all series, as the case may be) , other than the
         non-payment of the principal of Securities of that series (or of all
         series, as the case may be) which have become due solely by such
         declaration of acceleration, have been cured or waived as provided in
         Section 512.

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

SECTION 503.      COLLECTION OF INDEBTEDNESS AND SUITS FOR ENFORCEMENT BY
                  TRUSTEE.

The Company covenants that if

                  (1) default is made in the payment of any installment of
         interest on, or any Additional Amounts with respect to, any Security of
         any series when such interest or Additional Amounts shall have become
         due and payable and such default continues for a period of 30 days, or

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

the Company will, upon demand of the Trustee, pay to it, for the benefit of the
Holders of such Securities, the whole amount then due and payable on such
Securities for principal (and premium, if any) and interest and Additional
Amounts and, to the extent that payment of such interest shall be legally
enforceable, interest on any overdue principal (and premium, if any) and on any
overdue interest and Additional Amounts, at the rate or rates prescribed
therefor in such Securities (or in the case of Original Issue Discount
Securities, the Securities' Yield to Maturity), and, in addition thereto, such
further amount as shall be sufficient to cover the costs and expenses of
collection, including the reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel.

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

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

SECTION 504.      TRUSTEE MAY FILE PROOFS OF CLAIM.

         In case of the pendency of any receivership, insolvency, liquidation,
bankruptcy, reorganization, arrangement, adjustment, composition or other
judicial proceeding relative to the Company or any other obligor upon the
Securities or the property of the Company or of such other obligor or their
creditors, the Trustee (irrespective of whether the principal (or lesser amount
in the case of Original Issue Discount Securities) of the Securities shall then
be due and payable as therein expressed or by declaration or otherwise and
irrespective of whether the Trustee shall have made any demand on the Company
for the payment of overdue principal (and premium, if any) , interest or any
Additional Amounts) shall be entitled and empowered, by intervention in such
proceeding or otherwise,

                  (i) to file and prove a claim for the whole amount of
         principal (or lesser amount in the case of Original Issue Discount
         Securities) (and premium, if any) and interest and any Additional
         Amounts

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<Page>

         owing and unpaid in respect of the Securities and to file such other
         papers or documents as may be necessary or advisable in order to have
         the claims of the Trustee (including any claim for the reasonable
         compensation, expenses, disbursements and advances of the Trustee, its
         agents and counsel) and of the Holders allowed in such judicial
         proceeding, and

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

and any custodian, receiver, assignee, trustee, liquidator, sequestrator or
other similar official in any such judicial proceeding is hereby authorized by
each Holder to make such payments to the Trustee and, in the event that the
Trustee shall consent to the making of such payments directly to the Holders,
to pay to the Trustee any amount due it for the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel,
and any other amounts due the Trustee under Section 607.

         Nothing herein contained shall be deemed to authorize the Trustee to
authorize or consent to or accept or adopt on behalf of any Holder any plan of
reorganization, arrangement, adjustment or composition affecting the Securities
or the rights of any Holder thereof or to authorize the Trustee to vote in
respect of the claim of any Holder in any such proceedings; provided, however,
that the Trustee may, on behalf of the Holders, vote for the election of a
trustee in bankruptcy or similar official.

SECTION 505.      TRUSTEE MAY ENFORCE CLAIMS WITHOUT POSSESSION OF SECURITIES
                  OR COUPONS.

         All rights of action and claim under this Indenture or the Securities
may be prosecuted and enforced by the Trustee without possession of any of the
Securities or the production thereof in any proceeding relating thereto, and
any such proceeding instituted by the Trustee shall be brought in its own name
as trustee of an express trust, and any recovery of judgment shall, after
provision for the payment of the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel, be for the
ratable benefit of the Holders of the Securities in respect of which such
judgment has been recovered.

SECTION 506.      APPLICATION OF MONEY COLLECTED.

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

                  FIRST: To the payment of all amounts due the Trustee under
         Section 607;

                  SECOND: To the payment of the amounts then due and unpaid for
         principal of (and premium, if any) and interest on and any Additional
         Amounts with respect to the Securities 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) interest
         and Additional Amounts, respectively; and

                  THIRD: The balance, if any, to the Person or Persons entitled
         thereto.

         To the fullest extent allowed under applicable law, if for the purpose
of obtaining judgment against the Company in any court it is necessary to
convert the sum due in respect of the principal of (or premium, if any) or
interest on or any Additional Amounts with respect to the Securities of any
series (the "Required Currency") into a currency in which a judgment will be
rendered (the "Judgment Currency"), the rate of exchange used shall be the rate
at which in accordance with normal banking procedures the Trustee could purchase
in The City of New York the Required Currency with the Judgment Currency on the
New York Business Day next preceding that on which final judgment is given.
Neither the Company nor the Trustee shall be liable for any shortfall nor shall
it benefit from any windfall in payments to Holders of Securities under this
Section caused by a change in exchange rates between the time the amount of a
judgment against it is calculated as above and the time the Trustee converts the

                                        26
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Judgment Currency into the Required Currency to make payments under this
Section to Holders of Securities, but payment of such judgment shall discharge
all amounts owed by the Company on the claim or claims underlying such judgment.

SECTION 507.      LIMITATION ON SUITS.

         Subject to Section 508, no Holder of any Security of any series shall
have any right to institute any proceeding, judicial or otherwise, with respect
to this Indenture, or for the appointment of a receiver or trustee, or for any
other remedy hereunder, unless

                  (1) an Event of Default with respect to Securities of such
         series shall have occurred and be continuing and such Holder has
         previously given written notice to the Trustee of such continuing Event
         of Default;

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

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

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

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

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

SECTION 508.      UNCONDITIONAL RIGHT OF HOLDERS TO RECEIVE PRINCIPAL, PREMIUM
                  AND INTEREST.

         Notwithstanding any other provision in this Indenture, the Holder of
any Security shall have the right, which is absolute and unconditional, to
receive payment of the principal of (and premium, if any) and (subject to
Section 307) interest on and any Additional Amounts with respect to such
Security on the Stated Maturity or Maturities expressed in such Security (or,
in the case of redemption, on the Redemption Date) and to institute suit for
the enforcement of any such payment, and such rights shall not be impaired or
affected without the consent of such Holder.

SECTION 509.      RESTORATION OF RIGHTS AND REMEDIES.

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

                                        27
<Page>

SECTION 510.      RIGHTS AND REMEDIES CUMULATIVE.

         Except as otherwise provided with respect to the replacement or
payment of mutilated, destroyed, lost or stolen Securities in the last
paragraph of Section 306, no right or remedy herein conferred upon or
reserved to the Trustee or to the Holders is intended to be exclusive of any
other right or remedy, and every right and remedy shall, to the extent
permitted by law, be cumulative and in addition to every other right and
remedy given hereunder or now or hereafter existing at law or in equity or
otherwise. The assertion or employment of any right or remedy hereunder, or
otherwise, shall not prevent the concurrent assertion or employment of any
other appropriate right or remedy.

SECTION 511.      DELAY OR OMISSION NOT WAIVER.

         No delay or omission of the Trustee or of any Holder of any
Securities to exercise any right or remedy accruing upon any Event of Default
shall impair any such right or remedy or constitute a waiver of any such
Event of Default or an acquiescence therein. Every right and remedy given by
this Article or by law to the Trustee or to the Holders may be exercised from
time to time, and as often as may be deemed expedient, by the Trustee or by
the Holders, as the case may be.

SECTION 512.      CONTROL BY HOLDERS.

         With respect to Securities of any series, the Holders of a majority
in principal amount of the Outstanding Securities of such series shall have
the right to direct the time, method and place of conducting any proceeding
for any remedy available to the Trustee, or exercising any trust or power
conferred on the Trustee, relating to or arising under an Event of Default
described in clause (1) , (2) , (3) or (7) of Section 501, and with respect
to all Securities the Holders of a majority in principal amount of all
Outstanding Securities shall have the right to direct the time, method and
place of conducting any remedy available to the Trustee, or exercising any
trust or power conferred on the Trustee, not relating to or arising under
such an Event of Default, provided that in each such case

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

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

SECTION 513.      WAIVER OF PAST DEFAULTS.

         The Holders of a majority in principal amount of the Outstanding
Securities of any series may on behalf of the Holders of all the Securities
of such series waive any past default hereunder with respect to such series
and its consequences, and the Holders of a majority in principal amount of
all Outstanding Securities may on behalf of the Holders of all Securities
waive any other past default hereunder and its consequences, except in each
case a default

                  (1) in the payment of the principal of (or premium, if any) or
         interest on, or any Additional Amounts with respect to, any Security,
         or

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

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

SECTION 514.      UNDERTAKING FOR COSTS.

         All parties to this Indenture agree, and each Holder of any Security
by his 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

                                       28
<Page>

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 Company, to any suit instituted
by the Trustee, to any suit instituted by any Holder, or group of Holders,
holding in the aggregate more than 10% in principal amount of the Outstanding
Securities of any series, or to any suit instituted by any Holder for the
enforcement of the payment of the principal of (or premium, if any) or
interest on, or any Additional Amounts with respect to, any Security on or
after the Stated Maturity or Maturities expressed in such Security (or, in
the case of redemption, on or after the Redemption Date)

SECTION 515.      WAIVER OF STAY OR EXTENSION LAWS.

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

                                   ARTICLE SIX
                                   THE TRUSTEE

SECTION 601.      CERTAIN DUTIES AND RESPONSIBILITIES.

                  (a) Except during the continuance of an Event of Default with
         respect to the Securities of any series,

                  (1) the Trustee undertakes to perform such duties and only
such duties as are specifically set forth in this Indenture, and no implied
covenants or obligations shall be read into this Indenture against the
Trustee; and

                  (2) in the absence of bad faith on its part, the Trustee
may conclusively rely, as to the truth of the statements and the correctness
of the opinions expressed therein, upon 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 which 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 requirements of this Indenture.

                  (b) In case an Event of Default has occurred and is continuing
         with respect to the Securities of any series, the Trustee shall
         exercise 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 person would exercise or use under the circumstances in the
         conduct of his own affairs.

                  (c) 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

                  (1) this Subsection shall not be construed to limit the effect
         of Subsection (a) of this Section;

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

                  (3) 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 a majority in principal amount of the
         Outstanding Securities of any series or of all series, determined as
         provided in Section 511, relating to the time, method and place of
         conducting any proceeding for any remedy available to the Trustee, or
         exercising

                                       29
<Page>

         any trust or power conferred upon the Trustee, under this Indenture
         with respect to the Securities of such series; and

                  (4) no provision of this Indenture shall require the Trustee
         to expend or risk its own funds or otherwise incur any financial
         liability in the performance of any of its duties hereunder, or in the
         exercise of any of its rights or powers, if it shall have reasonable
         grounds for believing that repayment of such funds or indemnity
         satisfactory to it against such risk or liability is not assured to it.

                  (a) Whether or not therein expressly so provided, every
         provision of this Indenture relating to the conduct or affecting the
         liability of or affording protection to the Trustee shall be subject to
         the provisions of this Section.

SECTION 602.      NOTICE OF DEFAULTS.

         Within 90 days after the occurrence of any default hereunder with
respect to the Securities of any series, the Trustee shall give notice of
such default hereunder known to the Trustee to all Holders of Securities of
such series in the manner provided in Section 107, unless such default shall
have been cured or waived; provided, however, that, except in the case of a
default in the payment of the principal of (or premium, if any) or interest
on, or any Additional Amounts with respect to, any Security of such series or
in the payment of any sinking fund installment with respect to Securities of
such series, 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 or Responsible Officers of the Trustee in good faith
determines that the withholding of such notice is in the interest of the
Holders of Securities of such series; and provided, further, that in the case
of any default of the character specified in Section 501(4) with respect to
Securities of such series, no such notice to Holders shall be given until at
least 30 days after the occurrence thereof. For the purpose of this Section,
the term "default" means any event, act or condition which is, or after
notice or lapse of time or both would become, an Event of Default with
respect to Securities of such series.

SECTION 603.      CERTAIN RIGHTS OF TRUSTEE.

         Subject to the provisions of Section 601:

                  (a) the Trustee may rely and shall be protected in acting or
         refraining from acting upon any resolution, certificate, statement,
         instrument, opinion, report, notice, request, direction, consent,
         order, bond, debenture, note, coupon, other evidence of indebtedness 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 or direction of the Company mentioned herein
         shall be sufficiently evidenced by a Company Request or Company Order
         and any resolution of the Board of Directors may be sufficiently
         evidenced by a Board Resolution;

                  (c) whenever in the administration of this Indenture the
         Trustee shall deem it desirable that a matter be proved or established
         prior to taking, suffering or omitting any action hereunder, the
         Trustee (unless other evidence be herein specifically prescribed) may,
         in the absence of bad faith on its part, rely upon an Officers'
         Certificate;

                  (d) 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,
         suffered or omitted by it hereunder in good faith and in reliance
         thereon;

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

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<Page>

                  (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, direction,
         consent, order, bond, debenture, note, coupon, other evidence of
         indebtedness or other paper or document, but the Trustee, in its
         discretion, may make such further inquiry or investigation into such
         facts or matters as it may see fit, and, if the Trustee shall determine
         to make such further inquiry or investigation, it shall be entitled to
         examine the books, records and premises of the Company, personally or
         by agent or attorney; 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, except for any Affiliates of the
         Trustee, 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.

SECTION 604.      NOT RESPONSIBLE FOR RECITALS OR ISSUANCE OF SECURITIES.

         The recitals contained herein and in the Securities, except the
Trustee's certificates of authentication, shall be taken as the statements of
the Company, and the Trustee assumes no responsibility for their correctness.
The Trustee makes no representations as to the validity or sufficiency of
this Indenture or of the Securities. The Trustee shall not be accountable for
the use or application by the Company of Securities or the proceeds thereof.

SECTION 605.      MAY HOLD SECURITIES.

         The Trustee, any Authenticating Agent, any Paying Agent, any
Security Registrar or any other agent of the Company, in its individual or
any other capacity, may become the owner or pledgee of Securities and,
subject to Section 608 and Section 613, may otherwise deal with the Company
with the same rights it would have if it were not Trustee, Authenticating
Agent, Paying Agent, Security Registrar or such other agent.

SECTION 606.      MONEY HELD IN TRUST.

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

SECTION 607.      COMPENSATION AND REIMBURSEMENT.

         The Company agrees

                  (1) to pay to the Trustee from time to time compensation for
         all services rendered by it hereunder (which compensation shall not be
         limited by any provision of law in regard to the compensation of a
         trustee of an express trust);

                  (2) except as otherwise expressly provided herein, to
         reimburse the Trustee upon its request for all reasonable expenses,
         disbursements and advances incurred or made by the Trustee in
         accordance with any provision of this Indenture (including the
         compensation and the reasonable expenses and disbursements of its
         agents and counsel) , except any such expense, disbursement or advance
         as may be attributable to its negligence or bad faith; and

                  (3) to indemnify the Trustee and each of its directors,
         officers, employees, agents and/or representatives for, and to hold
         each of them harmless against, any loss, liability or expense incurred
         without negligence or bad faith on each of their part, arising out of
         or in connection with the acceptance or administration of the trust or
         trusts hereunder, including the costs and expenses of defending
         themselves against any claim or liability in connection with the
         exercise or performance of any of the Trustee's powers or duties
         hereunder.

         As security for the performance of the obligations of the Company
under this Section, the Trustee shall have a lien prior to the Securities
upon all property and funds held or collected by the Trustee as such, except
funds

                                       31
<Page>

held in trust for the payment of principal of, premium, if any, or interest,
if any, on, or any Additional Amounts with respect to, particular Securities.

         Any expenses and compensation for any services rendered by the
Trustee after the occurrence of an Event of Default specified in clause (5)
or (6) of Section 501 shall constitute expenses and compensation for services
of administration under all applicable federal or state bankruptcy,
insolvency, reorganization or other similar laws.

                      The provisions of this Section shall survive the
termination of this Indenture.

SECTION 608.      DISQUALIFICATION; CONFLICTING INTERESTS.

                  (a) If the Trustee has or shall acquire any conflicting
         interest, as defined in this Section, with respect to the Securities of
         any series, it shall, within 90 days after ascertaining that it has
         such conflicting interest, either eliminate such conflicting interest
         or resign with respect to the Securities of that series in the manner
         and with the effect hereinafter specified in this Article.

                  (b) In the event that the Trustee shall fail to comply with
         the provisions of Subsection (a) of this Section with respect to the
         Securities of any series, the Trustee shall, within 10 days after the
         expiration of such 90-day period, transmit by mail to all Holders of
         Securities of that series, as their names and addresses appear in the
         Security Register, notice of such failure.

                  (c) For the purposes of this Section, the term "conflicting
         interest" shall have the meaning specified in Section 310(b) of the
         Trust Indenture Act and the Trustee shall comply with Section 310(b) of
         the Trust Indenture Act; provided that there shall be excluded from the
         operation of Section 310(b)(1) of the Trust Indenture Act with respect
         to the Securities of any series any indenture or indentures under which
         other securities, or certificates of interest or participation in other
         securities, of the Company are outstanding, if the requirements for
         such exclusion set forth in Section 310(b)(1) of the Trust Indenture
         Act are met. For purposes of the preceding sentence, the optional
         provision permitted by the second sentence of Section 310(b)(9) of the
         Trust Indenture Act shall be applicable.

SECTION 609.      CORPORATE TRUSTEE REQUIRED; ELIGIBILITY.

         There shall at all times be a Trustee hereunder which shall be a
corporation organized and doing business under the laws of the United States
of America, any State thereof or the District of Columbia, authorized under
such laws to exercise corporate trust powers, having a combined capital and
surplus of at least $50,000,000 and subject to supervision or examination by
Federal or State (or District of Columbia) authority. If such corporation
publishes reports of condition at least annually, pursuant to law or to the
requirements of said supervising or examining authority, then for the
purposes of this Section, the combined capital and surplus of such
corporation shall be deemed to be its combined capital and surplus as set
forth in its most recent report of condition so published. If at any time the
Trustee shall cease to be eligible in accordance with the provisions of this
Section, it shall resign immediately in the manner and with the effect
hereinafter specified in this Article.

         The Indenture shall always have a Trustee who satisfies the
requirements of Sections 310(a) (1), 310(a) (2) and 310(a) (5) of the Trust
Indenture Act.

SECTION 610.      RESIGNATION AND REMOVAL; APPOINTMENT OF SUCCESSOR.

                  (1) No resignation or removal of the Trustee and no
         appointment of a successor Trustee pursuant to this Article shall
         become effective until the acceptance of appointment by the successor
         Trustee in accordance with the applicable requirements of Section 611.

                  (2) The Trustee may resign at any time with respect to the
         Securities of one or more series by giving written notice thereof to
         the Company. If the instrument of acceptance by a successor Trustee
         required by Section 611 shall not have been delivered to the resigning
         Trustee within 30 days after the giving of such notice of resignation,
         the resigning Trustee may petition any court of competent jurisdiction

                                       32
<Page>

         for the appointment of a successor Trustee with respect to the
         Securities of such series.

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

                  (4)      If at any time:

                  (a) the Trustee shall fail to comply with Section 608 after
         written request therefor by the Company or by any Holder who has been a
         bona fide Holder of a Security for at least six months, or

                  (b) the Trustee shall cease to be eligible under Section 609
         and shall fail to resign after written request therefor by the Company
         or by any such Holder of Securities, or

                  (c) the Trustee shall become incapable of acting or shall be
         adjudged a bankrupt or insolvent or a receiver of the Trustee or of its
         property shall be appointed or any public officer shall take charge or
         control of the Trustee or of its property or affairs for the purpose of
         rehabilitation, conservation or liquidation, then, in any such case,
         (i) the Company by a Board Resolution may remove the Trustee with
         respect to all Securities, or (ii) subject to Section 513, any Holder
         who has been a bona fide Holder of a Security for at least six months
         may, on behalf of himself and all others similarly situated, petition
         any court of competent jurisdiction for the removal of the Trustee with
         respect to all Securities and the appointment of a successor Trustee or
         Trustees.

                  (5) If the Trustee shall resign, be removed or become
         incapable of acting, or if a vacancy shall occur in the office of
         Trustee for any cause, with respect to the Securities of one or more
         series, the Company, by a Board Resolution, shall promptly appoint a
         successor Trustee or Trustees with respect to the Securities of that or
         those series (it being understood that any such successor Trustee may
         be appointed with respect to the Securities of one or more or all of
         such series and that at any time there shall be only one Trustee with
         respect to the Securities of any particular series) and such successor
         Trustee or Trustees shall comply with the applicable requirements of
         Section 611. If no successor Trustee with respect to the Securities of
         any series shall have been so appointed by the Company and accepted
         appointment in the manner required by Section 611, any Holder who has
         been a bona fide Holder of a Security of such series for at least six
         months may, on behalf of himself and all others similarly situated,
         petition any court of competent jurisdiction for the appointment of a
         successor Trustee with respect to the Securities of such series.

                  (6) The Company shall give notice of each resignation and each
         removal of the Trustee with respect to the Securities of any series and
         each appointment of a successor Trustee with respect to the Securities
         of any series by mailing written notice of such event by first-class
         mail, postage prepaid, to all Holders of Securities of such series as
         their names and addresses appear in the Security Register. Each notice
         shall include the name of the successor Trustee with respect to the
         Securities of such series and the address of its Corporate Trust
         Office.

SECTION 611.      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.

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<Page>

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

                  (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.

SECTION 612.      MERGER, CONVERSION, CONSOLIDATION OR SUCCESSION TO BUSINESS.

         Any corporation into which the Trustee may be merged or converted or
with which it may be consolidated, or any corporation resulting from any
merger, conversion or consolidation to which the Trustee shall be a party, or
any corporation succeeding to all or substantially all the corporate trust
business of the Trustee, shall be the successor of the Trustee hereunder,
provided such corporation shall be otherwise qualified and eligible under
this Article, without the execution or filing of any paper or any further act
on the part of any of the parties hereto.

         In case any Securities shall have been authenticated, but not
delivered, by the Trustee then in office, any successor by merger, conversion
or consolidation to such authenticating Trustee may adopt such authentication
and deliver the Securities so authenticated with the same effect as if such
successor Trustee had itself authenticated such Securities.

SECTION 613.      PREFERENTIAL COLLECTION OF CLAIMS AGAINST 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 indicated
therein.

SECTION 614.      APPOINTMENT OF AUTHENTICATING AGENT.

         The Trustee may appoint an Authenticating Agent or Agents which
shall be authorized to act on behalf of the Trustee to authenticate
Securities issued upon original issue and upon exchange, registration of
transfer or partial redemption or pursuant to Section 306, 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. Wherever reference is made in this Indenture to the authentication
and delivery of Securities by the Trustee or the Trustee's certificate of
authentication, such reference shall be deemed to include authentication and
delivery on behalf of the

                                       34
<Page>

Trustee by an Authenticating Agent and a certificate of authentication
executed on behalf of the Trustee by an Authenticating Agent. Each
Authenticating Agent shall be acceptable to the Company and shall at all
times be a corporation organized and doing business under the laws of the
United States of America, any State thereof or the District of Columbia
having a combined capital and surplus of not less than $50,000,000 or
equivalent amount expressed in a foreign currency and subject to supervision
or examination by Federal or State (or District of Columbia) authority or
authority of such country. If such Authenticating Agent publishes reports of
condition at least annually, pursuant to law or to the requirements of said
supervising or examining authority, then for the purposes of this Section,
the combined capital and surplus of such Authenticating Agent shall be deemed
to be its combined capital and surplus as set forth in its most recent report
of condition so published. If at any time an Authenticating Agent shall cease
to be eligible in accordance with the provisions of this Section, such
Authenticating Agent shall resign immediately in the manner and with the
effect specified in this Section.

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

         An Authenticating Agent may resign at any time by giving written
notice thereof to the Trustee and to the Company.......The Trustee may at any
time terminate the agency of an Authenticating Agent by giving written notice
thereof to such Authenticating Agent and to the Company. Upon receiving such
a notice of resignation or upon such a termination, or in case at any time
such Authenticating Agent shall cease to be eligible in accordance with the
provisions of this Section, the Trustee may appoint a successor
Authenticating Agent which shall be acceptable to the Company and shall mail
written notice of such appointment by first-class mail, postage prepaid, to
all Holders as their names and addresses appear in the Security Register. Any
successor Authenticating Agent upon acceptance of its appointment hereunder
shall become vested with all the rights, powers and duties of its predecessor
hereunder, with like effect as if originally named as an Authenticating
Agent. No successor Authenticating Agent shall be appointed unless eligible
under the provisions of this Section.

         The Trustee agrees to pay to each Authenticating Agent from time to
time reasonable compensation for its services under this Section, and the
Trustee shall be entitled to be reimbursed for such payments, subject to the
provisions of Section 607.

         If an appointment is made pursuant to this Section, the Securities
may have endorsed thereon, in addition to the Trustee's certificate of
authentication, an alternate certificate of authentication in the following
form:

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

                            __________________________________________,
                                              as Trustee

                            By _______________________________________,
                                     as Authenticating Agent

                            By _______________________________________,
                                     Authorized Signatory".

         Notwithstanding any provision of this Section 614 to the contrary,
if at any time any Authenticating Agent appointed hereunder with respect to
any series of Securities shall not also be acting as the Security Registrar
hereunder with respect to any series of Securities, then, in addition to all
other duties of an Authenticating Agent hereunder, such Authenticating Agent
shall also be obligated: (i) to furnish to the Security Registrar promptly
all information necessary to enable the Security Registrar to maintain at all
times an accurate and current Security Register; and (ii) prior to
authenticating any Security denominated in a foreign currency, to ascertain
from the

                                       35
<Page>

Company the units of such foreign currency that are required to be determined
by the Company pursuant to Section 302.

                                  ARTICLE SEVEN
                HOLDER'S LISTS AND REPORTS BY TRUSTEE AND COMPANY

SECTION 701.      COMPANY TO FURNISH TRUSTEE NAMES AND ADDRESSES OF HOLDERS.

         With respect to each series of Securities, the Company will furnish
or cause to be furnished to the Trustee:

                  (a) semi-annually, not more than 15 days after each Regular
         Record Date relating to that series (or, if there is no Regular Record
         Date relating to that series, on January 1 and July 1) a list, in such
         form as the Trustee may reasonably require, of the names and addresses
         of the Holders of that series as of such dates, 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, such list to be dated as of a date
         not more than 15 days prior to the time such list is furnished;
         provided, that so long as the Trustee is the Security Registrar, the
         Company shall not be required to furnish or cause to be furnished such
         a list to the Trustee. The Company shall otherwise comply with Section
         310(a) of the Trust Indenture Act.

SECTION 702.      PRESERVATION OF INFORMATION; COMMUNICATIONS TO HOLDERS.

                  (a) The Trustee shall preserve, in as current a form as is
         reasonably practicable, the names and addresses of Holders of each
         series contained in the most recent list furnished to the Trustee as
         provided in Section 701 and the names and addresses of Holders of each
         series received by the Trustee in its capacity as Security Registrar,
         if applicable. The Trustee may destroy any list furnished to it as
         provided in Section 701 upon receipt of a new list so furnished. The
         Trustee shall otherwise comply with Section 310(a) of the Trust
         Indenture Act.

                  (b) Holders of Securities may communicate pursuant to Section
         312(b) the Trust Indenture Act with other Holders with respect to their
         rights under this Indenture or under the Securities.

                  (c) Every Holder of Securities, by receiving and holding the
         same, agrees with the Company and the Trustee that neither the Company
         nor the Trustee nor any agent of either of them shall be held
         accountable by reason of the disclosure of any such information as to
         the names and addresses of the Holders in accordance with Section
         702(b), regardless of the source from which such information was
         derived, and that the Trustee shall not be held accountable by reason
         of mailing any material pursuant to a request made under Section
         702(b). The Company, the Trustee, the Security Registrar and any other
         Person shall have the protection of Section 312(c) of the Trust
         Indenture Act.

SECTION 703.      REPORTS BY TRUSTEE.

         (a)      Within 60 days after May 15 of each year after the execution
of this Indenture, the Trustee shall transmit by mail to Holders a brief report
dated as of such May 15 that complies with Section 313(a) of the Trust Indenture
Act.

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

         (c)      Reports pursuant to this Section shall be transmitted by mail
as required by Sections 313(c) and 313(d) of the Trust Indenture Act:

                  (1) to all Holders of Securities, as the names and addresses
         of such Holders appear in the Security Register;

                                       36
<Page>

                  (2) to such Holders of Securities as have, within the two
         years preceding such transmissions, filed their names and addresses
         with the Trustee for that purpose; and

                  (3) except in the case of reports pursuant to Subsection (b)
         of this Section, to each Holder of a Security whose name and address is
         preserved at the time by the Trustee, as provided in Section 702(a).

         (d)      A copy of each report pursuant to Subsection (a) or (b) of
this Section 703 shall, at the time of its transmission to Holders, be filed
by the Trustee with each stock exchange upon which any Securities are listed,
with the Commission and with the Company. The Company will notify the Trustee
when any Securities are listed on any stock exchange.

SECTION 704.      REPORTS BY COMPANY.

         The Company shall file with the Trustee, within 15 days after the
Company is required to file the same with the Commission, copies of the
annual reports and of the information, documents and other reports (or copies
of such portions of any of the foregoing as the Commission may from time to
time by rules and regulations prescribe) which the Company may be required to
file with the Commission pursuant to Section 13 or Section 15(d) of the
Securities Exchange Act of 1934, as amended, and shall otherwise comply with
Section 314(a) of the Trust Indenture Act.

                                  ARTICLE EIGHT
              CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE

SECTION 801.      COMPANY MAY CONSOLIDATE, ETC., ONLY ON CERTAIN TERMS.

         The Company shall not consolidate with or merge into any other
Person or convey, transfer or lease its properties and assets substantially
as an entirety to any Person, unless:

                  (1) the Person formed by such consolidation or into which the
         Company is merged or the Person which acquires by conveyance or
         transfer, or which leases, the properties and assets of the Company
         substantially as an entirety shall be a corporation, partnership or
         trust and shall expressly assume, by an indenture supplemental hereto,
         executed and delivered to the Trustee, in form satisfactory to the
         Trustee, the due and punctual payment of the principal of (and premium,
         if any) and interest on and any Additional Amounts with respect to all
         the Securities and the performance of every covenant of this Indenture
         on the part of the Company to be performed or observed;

                  (2) immediately after giving effect to such transaction, no
         Event of Default, and no event, act or condition which, after notice or
         lapse of time or both, would become an Event of Default, shall have
         happened and be continuing; and

                  (3) the Company shall have delivered to the Trustee an
         Officers' Certificate and an Opinion of Counsel, each stating that such
         consolidation, merger, conveyance, transfer or lease and, if a
         supplemental indenture is required in connection with such transaction,
         such supplemental indenture comply with this Article and that all
         conditions precedent herein provided for relating to such transaction
         have been complied with.

SECTION 802.      SUCCESSOR PERSON SUBSTITUTED.

         Upon any consolidation by the Company with or merger by the Company
into any other Person or any conveyance, transfer or lease of the properties
and assets of the Company substantially as an entirety in accordance with
Section 801, the successor Person formed by such consolidation or into which
the Company is merged or to which such conveyance, transfer or lease is made
shall succeed to, and be substituted for, and may exercise every right and
power of, the Company under this Indenture with the same effect as if such
successor Person had been named as the Company herein, and thereafter, except
in the case of such lease, the predecessor Person shall be relieved of all
obligations and covenants under this Indenture and the Securities.

                                       37
<Page>

                                  ARTICLE NINE
                             SUPPLEMENTAL INDENTURES

SECTION 901.      SUPPLEMENTAL INDENTURES WITHOUT CONSENT OF HOLDERS.

         Without the consent of any Holders, the Company, when authorized by
a Board Resolution, and the Trustee, at any time and from time to time, may
enter into one or more indentures supplemental hereto, in form satisfactory
to the Trustee, for any of the following purposes:

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

                  (2) to add to the covenants of the Company for the benefit of
         the Holders of all or any series of Securities (and if such covenants
         are to be for the benefit of less than all series of Securities,
         stating that such covenants are expressly being included solely for the
         benefit of such series), to convey, transfer, assign, mortgage or
         pledge any property to or with the Trustee or otherwise secure any
         series of the Securities or to surrender any right or power herein
         conferred upon the Company; or

                  (3) to add any additional Events of Default with respect to
         all or any series of the Securities (and, if such Event of Default is
         applicable to less than all series of Securities, specifying the series
         to which such Event of Default is applicable) ; or

                  (4) to change or eliminate any of the provisions of this
         Indenture, provided that any such change or elimination shall become
         effective only when there is no Security Outstanding of any series
         created prior to the execution of such supplemental indenture which is
         adversely affected by such change in or elimination of such provision;
         or

                  (5) to establish the form or terms of Securities of any series
         as permitted by Section 201 and Section 301; or

                  (6) to supplement any of the provisions of this Indenture to
         such extent as shall be necessary to permit or facilitate the
         defeasance and discharge of any series of Securities pursuant to
         Section 401; provided, however, that any such action shall not
         adversely affect the interest of the Holders of Securities of such
         series or any other series of Securities in any material respect; or

                  (7) to evidence and provide for the acceptance of appointment
         hereunder by a successor Trustee with respect to the Securities of one
         or more series and to add to or change any of the provisions of this
         Indenture as shall be necessary to provide for or facilitate the
         administration of the trusts hereunder by more than one Trustee,
         pursuant to the requirements of Section 611; or

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

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

                  (10) to comply with any requirement in order to effect or
         maintain qualification of this indenture under the trust indenture act.

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SECTION 902.      SUPPLEMENTAL INDENTURES WITH CONSENT OF HOLDERS.

         With the consent of the Holders of a majority in principal amount of
the Outstanding Securities of all series affected by such supplemental
indenture (acting as one class), by Act of said Holders delivered to the
Company and the Trustee, the Company, when authorized by a Board Resolution,
and the Trustee may enter into an indenture or indentures supplemental hereto
for the purpose of adding any provisions to or changing in any manner or
eliminating any of the provisions of this Indenture or of modifying in any
manner the rights of the Holders of Securities of such series under this
Indenture; provided, however, that no such supplemental indenture shall,
without the consent of the Holder of each Outstanding Security affected
thereby,

                  (1) change the Stated Maturity of the principal of, or any
         installment of principal of or interest on, any Security, or reduce the
         principal amount thereof or the rate of interest thereon, any
         Additional Amounts with respect thereto or any premium payable upon the
         redemption thereof, or change any obligation of the Company to pay
         Additional Amounts (except as contemplated by Section 801(1) and
         permitted by Section 901(1)), or reduce the amount of the principal of
         an Original Issue Discount Security that would be due and payable upon
         a declaration of acceleration of the Maturity thereof pursuant to
         Section 502, or change any Place of Payment where, or the coin or
         currency or currencies (including composite currencies) in which, any
         Security or any premium or any interest thereon or Additional Amounts
         with respect thereto is payable, or impair the right to institute suit
         for the enforcement of any such payment on or after the Stated Maturity
         thereof (or, in the case of redemption, on or after the Redemption
         Date) or modify the provisions of this Indenture with respect to the
         subordination of any Security in a manner adverse to the Holder
         thereof, or

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

                  (3) modify any of the provisions of this Section, Section 512
         or Section 1006, except to increase any such percentage or to provide
         with respect to any particular series the right to condition the
         effectiveness of any supplemental indenture as to that series on the
         consent of the Holders of a specified percentage of the aggregate
         principal amount of Outstanding Securities of such series (which
         provision may be made pursuant to Section 301 without the consent of
         any Holder) or to provide that certain other provisions of this
         Indenture cannot be modified or waived without the consent of the
         Holder of each Outstanding Security affected thereby, provided,
         however, that this clause shall not be deemed to require the consent of
         any Holder with respect to changes in the references to "the Trustee"
         and concomitant changes in this Section and Section 1006, or the
         deletion of this proviso, in accordance with the requirements of
         Section 611(b) and Section 901(7).

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

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

SECTION 903.      EXECUTION OF SUPPLEMENTAL INDENTURES.

         In executing, or accepting the additional trusts created by, any
supplemental indenture permitted by this Article or the modifications thereby
of the trusts created by this Indenture, the Trustee shall be entitled to
receive, and (subject to Section 601) shall be fully protected in relying
upon, an Opinion of Counsel stating that the execution of such supplemental
indenture is authorized or permitted by this Indenture. The Trustee may, but
shall not be obligated to, enter into any such supplemental indenture which
affects the Trustee's own rights, duties, immunities or liabilities under
this Indenture or otherwise.

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SECTION 904.      EFFECT OF SUPPLEMENTAL INDENTURES.

         Upon the execution of any supplemental indenture under this Article,
this Indenture shall be modified in accordance therewith, and such
supplemental indenture shall form a part of this Indenture for all purposes;
and every Holder of Securities theretofore or thereafter authenticated and
delivered hereunder shall be bound thereby.

SECTION 905.      CONFORMITY WITH TRUST INDENTURE ACT.

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

SECTION 906.      REFERENCE IN SECURITIES TO SUPPLEMENTAL INDENTURES.

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

                                   ARTICLE TEN
                                    COVENANTS

SECTION 1001.     PAYMENT OF PRINCIPAL, PREMIUM AND INTEREST.

         The Company covenants and agrees for the benefit of each series of
Securities that it will duly and punctually pay the principal of (and
premium, if any), interest on and any Additional Amounts with respect to the
Securities of that series in accordance with the terms of the Securities and
this Indenture.

SECTION 1002.     MAINTENANCE OF OFFICE OR AGENCY.

         The Company will maintain in each Place of Payment for any series of
Securities an office or agency where Securities of that series may be
presented or surrendered for payment, where Securities of that series may be
surrendered for registration of transfer or exchange and where notices and
demands to or upon the Company in respect of the Securities of that series
and this Indenture may be served. The Company will give prompt written notice
to the Trustee of the location, and any change in the location, of such
office or agency. 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, surrenders, notices and demands may be
made or served at the Corporate Trust Office of the Trustee.

         The Company may also from time to time designate one or more other
offices or agencies where the Securities of one or more series may be
presented or surrendered for any or all such purposes and may from time to
time rescind such designations; provided, however, that no such designation
or rescission shall in any manner relieve the Company of its obligation to
maintain an office or agency in each Place of Payment for Securities of any
series for such purposes. The Company will give prompt written notice to the
Trustee of any such designation or rescission and of any change in the
location of any such other office or agency.

SECTION 1003.     MONEY FOR SECURITIES PAYMENTS TO BE HELD IN TRUST.

         If the Company shall at any time act as its own Paying Agent with
respect to any series of Securities, it will, on or before each due date of
the principal of (and premium, if any) or interest on or any Additional
Amounts with respect to any of the Securities of that series, segregate and
hold in trust for the benefit of the Persons entitled thereto a sum
sufficient to pay the principal (and premium, if any) or interest or any
Additional Amounts so becoming due until such sums shall be paid to such
Persons or otherwise disposed of as herein provided and will promptly notify
the Trustee of its action or failure so to act.

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<Page>

         Whenever the Company shall have one or more Paying Agents for any
series of Securities, the Company will, on or before each due date of the
principal of (and premium, if any) or interest on any Securities of that
series, deposit with a 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 its action or failure so to act.

         The Company will cause each Paying Agent for any series of
Securities other than the Trustee to execute and deliver to the Trustee an
instrument in which such Paying Agent shall agree with the Trustee, subject
to the provisions of this Section, that such Paying Agent will:

                  (1) hold all sums held by it for the payment of the principal
         of (and premium, if any), interest on or any Additional Amounts with
         respect to Securities of that series in trust for the benefit of the
         Persons entitled thereto until such sums shall be paid to such Persons
         or otherwise disposed of as herein provided;

                  (2) give the Trustee notice of any default by the Company (or
         any other obligor upon the Securities of that series) in the making of
         any payment of principal (and premium, if any), interest on or any
         Additional Amounts with respect to the Securities of that series; and

                  (3) at any time during the continuance of any such default,
         upon the written request of the Trustee, forthwith pay to the Trustee
         all sums so held in trust by such Paying Agent.

         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 by Company Order 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 trusts as those upon which sums were held by the
Company or such Paying Agent; and, upon such payment by any Paying Agent to
the Trustee, such Paying Agent shall be released from all further liability
with respect to such money.

         Any money deposited with the Trustee or any Paying Agent, or then
held by the Company, in trust for the payment of the principal of (and
premium, if any) or interest on or any Additional Amounts with respect to any
Security of any series and remaining unclaimed for three years after such
principal (and premium, if any) or interest or Additional Amounts have become
due and payable shall, unless otherwise required by mandatory provisions of
applicable escheat, or abandoned or unclaimed property law, be paid to the
Company on Company Request, or (if then held by the Company) shall be
discharged from such trust; and the Holder of such Security shall thereafter,
as an unsecured general creditor, look only to the Company for payment
thereof, and all liability of the Trustee or such Paying Agent with respect
to such trust money, and all liability of the Company as trustee thereof,
shall thereupon cease; provided, however, that the Trustee or such Paying
Agent, before being required to make any such repayment, may at the expense
of the Company cause to be published once, in an Authorized Newspaper in The
Borough of Manhattan, The City of New York and in such other Authorized
Newspapers as the Trustee shall deem appropriate, notice that such money
remains unclaimed and that, after a date specified therein, which shall not
be less than 30 days from the date of such publication, any unclaimed balance
of such money then remaining will, unless otherwise required by mandatory
provisions of applicable escheat, or abandoned or unclaimed property law, be
repaid to the Company.

SECTION 1004.     EXISTENCE.

         Subject to Article Eight, the Company will do or cause to be done
all things necessary to preserve and keep in full force and effect its
corporate existence.

SECTION 1005.     STATEMENT BY OFFICERS AS TO DEFAULT.

         The Company will deliver to the Trustee, within 120 days after the
end of each fiscal year of the Company ending after the date hereof so long
as any Security is outstanding hereunder, an Officers' Certificate, complying
with Section 314(a) of the Trust Indenture Act, stating that a review of the
activities of the Company during such year and of performance under this
Indenture has been made under the supervision of the signers thereof and
whether or not to the best of their knowledge, based upon such review, the
Company is in default in the

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<Page>

performance, observance or fulfillment of any of its covenants and other
obligations under this Indenture, and if the Company shall be in default,
specifying each such default known to them and the nature and status thereof.
One of the officers signing the Officers' Certificate delivered pursuant to
this Section 1005 shall be the principal executive, financial or accounting
officer of the Company.

         For purposes of this Section, such compliance shall be determined
without regard to any period of grace or requirement of notice provided under
this Indenture.

SECTION 1006.     WAIVER OF CERTAIN COVENANTS.

         The Company may omit in any particular instance to comply with any
covenant or condition set forth in Section 1004, or any covenant added for
the benefit of any series of Securities as contemplated by Section 301
(unless otherwise specified pursuant to Section 301) if before or after the
time for such compliance the Holders of a majority in principal amount of the
Outstanding Securities of all series affected by such omission (acting as one
class) shall, by Act of such Holders, either waive such compliance in such
instance or generally waive compliance with such covenant or condition, but
no such waiver shall extend to or affect such covenant or condition except to
the extent so expressly waived, and, until such waiver shall become
effective, the obligations of the Company and the duties of the Trustee in
respect of any such covenant or condition shall remain in full force and
effect.

SECTION 1007.     ADDITIONAL AMOUNTS.

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

         If the Securities of a series provide for the payment of Additional
Amounts, at least 10 days prior to the first Interest Payment Date with
respect to that series of Securities (or if the Securities of that series
will not bear interest prior to Maturity, the first day on which a payment of
principal and any premium is made), and at least 10 days prior to each date
of payment of principal and any premium or interest if there has been any
change with respect to the matters set forth in the below-mentioned Officers'
Certificate, the Company shall furnish the Trustee and the Company's
principal Paying Agent or Paying Agents, if other than the Trustee, with an
Officers' Certificate instructing the Trustee and such Paying Agent or Paying
Agents whether such payment of principal of and any premium or interest on
the Securities of that series shall be made to Holders of Securities of that
series who are United States Aliens without withholding for or on account of
any tax, assessment or other governmental charge described in the Securities
of that series. If any such withholding shall be required, then such
Officers' Certificate shall specify by country the amount, if any, required
to be withheld on such payments to such Holders of Securities and the Company
will pay to such Paying Agent the Additional Amounts required by this
Section. The Company covenants to indemnify the Trustee and any Paying Agent
for, and to hold them harmless against any loss, liability or expense
reasonably incurred without negligence or bad faith on their part arising out
of or in connection with actions taken or omitted by any of them in reliance
on any Officers' Certificate furnished pursuant to this Section 1007.

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                                 ARTICLE ELEVEN
                            REDEMPTION OF SECURITIES

SECTION 1101.     APPLICABILITY OF ARTICLE.

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

SECTION 1102.     ELECTION TO REDEEM; NOTICE TO TRUSTEE.

         Unless otherwise provided with respect to the Securities of a series as
contemplated by Section 301, the election of the Company to redeem any
Securities shall be evidenced by a Board Resolution. In case of any redemption
at the election of the Company of less than all the Securities of any series,
the Company shall, a reasonable period prior to the Redemption Date fixed by the
Company (unless a shorter notice shall be satisfactory to the Trustee), notify
the Trustee of such Redemption Date and of the principal amount of Securities of
such series to be redeemed. In the case of any redemption of Securities prior to
the expiration of any restriction on such redemption provided in the terms of
such Securities or elsewhere in this Indenture, the Company shall furnish the
Trustee with an Officers' Certificate evidencing compliance with such
restriction.

         ANY NOTICE MAY BE CANCELLED AT ANY TIME PRIOR TO THE MAILING OF THAT
NOTICE OF REDEMPTION TO ANY HOLDER OF ANY SECURITY OF THAT SERIES AND SHALL
THEREUPON BE VOID AND OF NO EFFECT.

SECTION 1103.     SELECTION BY TRUSTEE OF SECURITIES TO BE REDEEMED.

         If less than all the Securities of any series are to be redeemed, the
particular Securities to be redeemed shall be selected not more than 60 days
prior to the Redemption Date by the Trustee, from the Outstanding Securities of
such series not previously called for redemption, by such method as the Trustee
shall deem fair and appropriate and which may provide for the selection for
redemption of portions (equal to the minimum authorized denomination for
Securities of that series or any integral multiple thereof) of the principal
amount of Securities of such series of a denomination larger than the minimum
authorized denomination for Securities of that series or of the principal amount
of global Securities of such series.

         The Trustee shall promptly notify the Company and the Security
Registrar in writing of the Securities selected for redemption and, in the case
of any Securities selected for partial redemption, the principal amount thereof
to be redeemed.

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

SECTION 1104.     NOTICE OF REDEMPTION.

         Notice of redemption shall be given in the manner provided in Section
107 to each Holder of Securities to be redeemed not less than 30 nor more than
60 days prior to the Redemption Date.

         All notices of redemption shall state:

                  (1)      the Redemption Date,

                  (2)      the Redemption Price,

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

                                       43

<Page>
         be redeemed,

                  (4) that on the Redemption Date the Redemption Price will
         become due and payable upon each such Security to be redeemed and, if
         applicable, that interest thereon will cease to accrue on and after
         said date,

                  (5) the place or places where such Securities are to be
         surrendered for payment of the Redemption Price,

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

                  (7)      the "CUSIP" number, if applicable.

         A notice of redemption as contemplated by Section 107 need not identify
particular Securities to be redeemed. Notice of redemption of Securities to be
redeemed at the election of the Company shall be given by the Company or, at the
Company's request, by the Trustee in the name and at the expense of the Company.

SECTION 1105.     DEPOSIT OF REDEMPTION PRICE.

         On or before 10:00 a.m., Houston, Texas time, on any Redemption Date,
the Company shall deposit with the Trustee or with a Paying Agent (or, if the
Company is acting as its own Paying Agent, segregate and hold in trust as
provided in Section 1003) an amount of money sufficient to pay the Redemption
Price of, and (except if the Redemption Date shall be an Interest Payment Date)
accrued interest on, and any Additional Amounts with respect to, all the
Securities which are to be redeemed on that date.

SECTION 1106.     SECURITIES PAYABLE ON REDEMPTION DATE.

         Notice of redemption having been given as aforesaid, the Securities so
to be redeemed shall, on the Redemption Date, become due and payable at the
Redemption Price therein specified, and from and after such date (unless the
Company shall default in the payment of the Redemption Price and accrued
interest) such Securities shall cease to bear interest. Upon surrender of any
such Security for redemption in accordance with said notice, such Security shall
be paid by the Company at the Redemption Price, together with accrued interest
(and any Additional Amounts) to the Redemption Date; provided, however, that
installments of interest whose Stated Maturity is on or prior to the Redemption
Date shall be payable to the Holders of such Securities, or one or more
Predecessor Securities, registered as such at the close of business on the
relevant Record Dates according to their terms and the provisions of Section
307.

         If any Security called for redemption shall not be so paid upon
surrender thereof for redemption, the principal (and premium, if any) shall,
until paid, bear interest from the Redemption Date at the rate prescribed
therefor in the Security or, in the case of Original Issue Discount Securities,
the Securities' Yield to Maturity.

SECTION 1107.     SECURITIES REDEEMED IN PART.

         Any Security which is to be redeemed only in part shall be surrendered
at a Place of Payment therefor (with, if the Company or the Trustee so requires,
due endorsement by, or a written instrument of transfer in form satisfactory to
the Company and the Trustee duly executed by, the Holder thereof or his attorney
duly authorized in writing), and the Company shall execute, and the Trustee
shall authenticate and deliver to the Holder of such Security without service
charge, a new Security or Securities of the same series and Stated Maturity, of
any authorized denomination as requested by such Holder, in aggregate principal
amount equal to and in exchange for the unredeemed portion of the principal of
the Security so surrendered.

SECTION 1108.     PURCHASE OF SECURITIES.

         Unless otherwise specified as contemplated by Section 301, the Company
and any Affiliate of the Company may at any time purchase or otherwise acquire
Securities in the open market or by private agreement.

                                       44
<Page>

Such acquisition shall not operate as or be deemed for any purpose to be a
redemption of the indebtedness represented by such Securities. Any Securities
purchased or acquired by the Company may be delivered to the Trustee and,
upon such delivery, the indebtedness represented thereby shall be deemed to
be satisfied. Section 309 shall apply to all Securities so delivered.

                                  ARTICLE TWELVE
                                  SINKING FUNDS

SECTION 1201.     APPLICABILITY OF ARTICLE.

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

         The minimum amount of any sinking fund payment provided for by the
terms of Securities of any series is herein referred to as a "mandatory sinking
fund payment", and any payment in excess of such minimum amount provided for by
the terms of Securities of any series is herein referred to as an "optional
sinking fund payment". Unless otherwise provided 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 1202. Each sinking fund payment shall be
applied to the redemption of Securities of any series as provided for by the
terms of Securities of such series.

SECTION 1202.     SATISFACTION OF SINKING FUND PAYMENTS WITH SECURITIES.

         The Company (1) may deliver Outstanding Securities of a series (other
than any previously called for redemption), and (2) may apply as a credit
Securities of a series which 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 redemption through operation
of the sinking fund and the amount of such sinking payment shall be reduced
accordingly.

SECTION 1203.     REDEMPTION OF SECURITIES FOR SINKING FUND.

         Not less than 45 days prior (unless a shorter period shall be
satisfactory to the Trustee) to each sinking fund payment date for any series of
Securities, 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 that series, the portion thereof, if any, which is to
be satisfied by payment of cash and the portion thereof, if any, which is to be
satisfied by delivery of or by crediting Securities of that series pursuant to
Section 1202 and will also 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 1103 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 1104. Such notice having been duly given, the
redemption of such Securities shall be made upon the terms and in the manner
stated in Section 1106 and Section 1107.

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                               ARTICLE THIRTEEN
                                 SUBORDINATION

SECTION 1301.     SECURITIES SUBORDINATED TO SENIOR INDEBTEDNESS.

         The Company and each Holder of a Security, by his acceptance thereof,
agree that (a) the payment of the principal of, premium (if any) and interest on
and any Additional Amounts with respect to each and all the Securities and (b)
any other payment in respect of the Securities, including on account of the
acquisition or redemption of Securities by the Company, is subordinated, to the
extent and in the manner provided in this Article Thirteen, to the prior payment
in full of all Senior Indebtedness of the Company, whether outstanding at the
date of this Indenture or thereafter created, incurred, assumed or guaranteed,
and that these subordination provisions are for the benefit of the holders of
Senior Indebtedness of the Company.

         This Article Thirteen shall constitute a continuing offer to all
Persons who, in reliance upon such provisions, become holders of, or continue to
hold, Senior Indebtedness of the Company, and such provisions are made for the
benefit of the holders of Senior Indebtedness, and such holders are made
obligees hereunder and any one or more of them may enforce such provisions.

SECTION 1302.     NO PAYMENT ON SECURITIES IN CERTAIN CIRCUMSTANCES.

                  (a) No payment shall be made by or on behalf of the Company on
         account of the principal of, premium (if any) or interest on or any
         Additional Amounts with respect to the Securities of any series or to
         acquire any of such Securities (including any repurchases of such
         Securities pursuant to the provisions hereof or thereof at the option
         of the Holder of such Securities) for cash or property (other than
         Junior securities of the Company) or on account of any redemption
         provisions of such Securities, in the event of default in payment of
         any principal of, premium (if any) or interest on any Senior
         Indebtedness of the Company when the same becomes due and payable,
         whether at maturity or at a date fixed for prepayment or by declaration
         or otherwise (a "Payment Default"), unless and until such Payment
         Default has been cured or waived or otherwise has ceased to exist.

                  (b) No payment shall be made by or on behalf of the Company on
         account of the principal of, premium (if any) or interest on or any
         Additional Amounts with respect to the Securities of any series or to
         acquire any of such Securities (including any repurchases of such
         Securities pursuant to the provisions hereof or thereof at the option
         of the Holder of such Securities) for cash or property (other than
         Junior securities of the Company) or on account of any redemption
         provisions of such Securities, in the event of any event of default
         (other than a Payment Default) with respect to any Designated Senior
         Indebtedness permitting the holders of such Designated Senior
         Indebtedness (or a trustee or other representative on behalf of the
         holders thereof) to declare such Designated Senior Indebtedness due and
         payable prior to the date on which it would otherwise have become due
         and payable, upon written notice thereof to the Company and the Trustee
         by any holders of Designated Senior Indebtedness (or a trustee or other
         representative on behalf of the holders thereof) (the "Payment
         Notice"), unless and until such event of default shall have been cured
         or waived or otherwise has ceased to exist; provided, that such
         payments may not be prevented pursuant to this Section 1302 for more
         than 179 days after an applicable Payment Notice has been received by
         the Trustee unless the Designated Senior Indebtedness in respect of
         which such event of default exists has been declared due and payable in
         its entirety, in which case no such payment may be made until such
         acceleration has been rescinded or annulled or such Designated Senior
         Indebtedness has been paid in full. No event of default that existed or
         was continuing on the date of any Payment Notice (whether or not such
         event of default is on the same issue of Designated Senior
         Indebtedness) may be made the basis for the giving of a second Payment
         Notice, and only one such Payment Notice may be given in any 365-day
         period.

                  (c) In furtherance of the provisions of Section 1301, in the
         event that, notwithstanding the foregoing provisions of this Section
         1302, any payment or distribution of assets of the Company (other than
         Junior securities of the Company) shall be received by the Trustee or
         the Holders of Securities of any series at a time when such payment or
         distribution was prohibited by the provisions of this Section 1302,
         then, unless such payment or distribution is no longer prohibited by
         this Section 1302, such payment or

                                       46
<Page>

         distribution (subject to the provisions of Section 1307) shall be
         received and held in trust by the Trustee or such Holder or Paying
         Agent for the benefit of the holders of Senior Indebtedness of the
         Company, and shall be paid or delivered by the Trustee or such
         Holders or such Paying Agent, as the case may be, to the holders of
         Senior Indebtedness of the Company remaining unpaid or unprovided for
         or their representative or representatives, or to the trustee or
         trustees under any indenture pursuant to which any instruments
         evidencing such Senior Indebtedness of the Company may have been
         issued, ratably, according to the aggregate amounts remaining unpaid
         on account of such Senior Indebtedness of the Company held or
         represented by each, for application to the payment of all Senior
         Indebtedness in full after giving effect to all concurrent payments and
         distributions to or for the holders of such Senior Indebtedness.

SECTION 1303.     SECURITIES SUBORDINATED TO PRIOR PAYMENT OF ALL SENIOR
INDEBTEDNESS ON DISSOLUTION, LIQUIDATION OR REORGANIZATION.

         Upon any distribution of assets of the Company or upon any dissolution,
winding up, total or partial liquidation or reorganization of the Company,
whether voluntary or involuntary, in bankruptcy, insolvency, receivership or
similar proceeding or upon assignment for the benefit of creditors:

                  (a) the holders of all Senior Indebtedness of the Company
         shall first be entitled to receive payments in full before the Holders
         of Securities of any series are entitled to receive any payment on
         account of the principal of, premium (if any) or interest on or any
         Additional Amounts with respect to such Securities (other than Junior
         securities of the Company);

                  (b) any payment or distribution of assets of the Company of
         any kind or character, whether in cash, property or securities (other
         than Junior securities of the Company), to which the Holders of
         Securities of any series or the Trustee on behalf of such Holders would
         be entitled, except for the provisions of this ARTICLE Thirteen, shall
         be paid by the liquidating trustee or agent or other Person making such
         a payment or distribution directly to the holders of such Senior
         Indebtedness or their representative, ratably according to the
         respective amounts of Senior Indebtedness held or represented by each,
         to the extent necessary to make payment in full of all such Senior
         Indebtedness remaining unpaid after giving effect to all concurrent
         payments and distributions to the holders of such Senior Indebtedness;
         and

                  (c) in the event that, notwithstanding the foregoing, any
         payment or distribution of assets of the Company of any kind or
         character, whether in cash, property or securities (other than Junior
         securities of the Company), shall be received by the Trustee or the
         Holders of Securities of any series or any Paying Agent (or, if the
         Company or any Affiliate of the Company is acting as its own Paying
         Agent, money for any such payment or distribution shall be segregated
         or held in trust) on account of the principal of, premium (if any) or
         interest on or any Additional Amounts with respect to the Securities of
         such series before all Senior Indebtedness of the Company is paid in
         full, such payment or distribution (subject to the provisions of
         Section 1307) shall be received and held in trust by the Trustee or
         such Holder or Paying Agent for the benefit of the holders of such
         Senior Indebtedness, or their respective representatives, ratably
         according to the respective amounts of such Senior Indebtedness held or
         represented by each, to the extent necessary to make payment as
         provided herein of all such Senior Indebtedness remaining unpaid after
         giving effect to all concurrent payments and distributions and all
         provisions therefor to or for the holders of such Senior Indebtedness,
         but only to the extent that as to any holder of such Senior
         Indebtedness, as promptly as practical following notice from the
         Trustee to the holders of such Senior Indebtedness that such prohibited
         payment has been received by the Trustee, Holder(s) or Paying Agent (or
         has been segregated as provided above), such holder (or a
         representative therefor) notifies the Trustee of the amounts then due
         and owing on such Senior Indebtedness, if any, held by such holder and
         only the amounts specified in such notices to the Trustee shall be paid
         to the holders of such Senior Indebtedness.

SECTION 1304.     SUBROGATION TO RIGHTS OF HOLDERS OF SENIOR INDEBTEDNESS.

         Subject to the payment in full of all Senior Indebtedness of the
Company as provided herein, the Holders of the Securities shall be subrogated
(to the extent of the payments or distributions made to the holders of such
Senior Indebtedness pursuant to the provisions of this Article) to the rights of
the holders of such Senior Indebtedness to

                                       47
<Page>

receive payments or distributions of assets of the Company applicable to the
Senior Indebtedness until all amounts owing on the Securities shall be paid
in full. For the purpose of such subrogation, no such payments or
distributions to the holders of such Senior Indebtedness by the Company, or
by or on behalf of the Holders of the Securities by virtue of this Article
Thirteen, which otherwise would have been made to such Holders shall, as
between the Company and such Holders, be deemed to be payment by the Company
or on account of such Senior Indebtedness, it being understood that the
provisions of this Article Thirteen are and are intended solely for the
purpose of defining the relative rights of the Holders of the Securities, on
the one hand, and the holders of such Senior Indebtedness, on the other hand.

         If any payment or distribution to which the Holders of the Securities
would otherwise have been entitled but for the provisions of this Article
Thirteen shall have been applied, pursuant to the provisions of this Article
Thirteen, to the payment of amounts payable under Senior Indebtedness of the
Company, then such Holders shall be entitled to receive from the holders of such
Senior Indebtedness any payments or distributions received by such holders of
Senior Indebtedness in excess of the amount sufficient to pay all amounts
payable under or in respect of such Senior Indebtedness in full.

SECTION 1305.     OBLIGATIONS OF THE COMPANY UNCONDITIONAL.

         Nothing contained in this Article Thirteen or elsewhere in this
Indenture or in the Securities is intended to or shall impair, as between the
Company and the Holders of the Securities of any series, the obligation of the
Company, which is absolute and unconditional, to pay to such Holders the
principal of, premium (if any) and interest on and any Additional Amounts with
respect to the Securities of such series as and when the same shall become due
and payable in accordance with their terms, or is intended to or shall affect
the relative rights of such Holders and creditors of the Company other than the
holders of the Senior Indebtedness, nor shall anything herein or therein prevent
the Trustee or any Holder from exercising all remedies otherwise permitted by
applicable law upon default under this Indenture, subject to the rights, if any,
under this Article Thirteen, of the holders of Senior Indebtedness in respect of
cash, property or securities of the Company received upon the exercise of any
such remedy. Notwithstanding anything to the contrary in this Article Thirteen
or elsewhere in this Indenture or in the Securities, upon any distribution of
assets of the Company referred to in this Article Thirteen, the Trustee, subject
to the provisions of Section 601 and Section 603, and the Holders of the
Securities shall be entitled to rely upon any order or decree made by any court
of competent jurisdiction in which such dissolution, winding up, liquidation or
reorganization proceedings are pending, or a certificate of the liquidating
trustee or agent or other Person making any distribution to the Trustee or to
such Holders for the purpose of ascertaining the Persons entitled to participate
in such distribution, the holders of the Senior Indebtedness and other
Indebtedness of the Company, the amount thereof or payable thereon, the amount
or amounts paid or distributed thereon and all other facts pertinent thereto or
to this Article Thirteen so long as such court has been apprised of the
provisions of, or the order, decree or certificate makes reference to, the
provisions of this Article Thirteen.

SECTION 1306.     TRUSTEE ENTITLED TO ASSUME PAYMENTS NOT PROHIBITED IN ABSENCE
OF NOTICE.

         The Trustee shall not at any time be charged with knowledge of the
existence of any facts that would prohibit the making of any payment to or by
the Trustee unless and until a Responsible Officer of the Trustee or any Paying
Agent shall have received, no later than two Business Days prior to such
payment, written notice thereof from the Company or from one or more holders of
Senior Indebtedness or from any representative therefor and, prior to the
receipt of any such written notice, the Trustee, subject to the provisions of
Section 601 and Section 603, shall be entitled in all respects conclusively to
assume that no such fact exists.

                                       48
<Page>

SECTION 1307.     APPLICATION BY TRUSTEE OF AMOUNTS DEPOSITED WITH IT.

         Amounts deposited in trust with the Trustee pursuant to and in
accordance with Article Four shall be for the sole benefit of Holders of the
Securities of series for the benefit of which such amounts were deposited, and,
to the extent allocated for the payment of Securities of such series, shall not
be subject to the subordination provisions of this Article Thirteen. Otherwise,
any deposit of assets with the Trustee or the Paying Agent (whether or not in
trust) for the payment of principal of, premium (if any) or interest on or any
Additional Amounts with respect to any Securities shall be subject to the
provisions of Section 1301, Section 1302, Section 1303 and Section 1304;
provided that if prior to two Business Days preceding the date on which by the
terms of this Indenture any such assets may become distributable for any purpose
(including without limitation, the payment of either principal of, premium (if
any) or interest on or any Additional Amounts with respect to any Security), the
Trustee or such Paying Agent shall not have received with respect to such assets
the written notice provided for in Section 1306, then the Trustee or such Paying
Agent shall have full power and authority to receive such assets and to apply
the same to the purpose for which they were received, and shall not be affected
by any notice to the contrary that may be received by it on or after such date;
and provided further that nothing contained in this Article Thirteen shall
prevent the Company from making, or the Trustee from receiving or applying, any
payment in connection with the redemption of Securities if the first publication
of notice of such redemption (whether by mail or otherwise in accordance with
this Indenture) has been made, and the Trustee has received such payment from
the Company, prior to the occurrence of any of the contingencies specified in
Section 1302 or Section 1303.

SECTION 1308.     SUBORDINATION RIGHTS NOT IMPAIRED BY ACTS OR OMISSIONS OF THE
COMPANY OR HOLDERS OF SENIOR INDEBTEDNESS.

         No right of any present or future holders of any Senior Indebtedness to
enforce subordination provisions contained in this Article Thirteen shall at any
time in any way be prejudiced or impaired by any act or failure to act on the
part of the Company or by any act or failure to act, in good faith, by any such
holder, or by any noncompliance by the Company with the terms of this Indenture,
regardless of any knowledge thereof that any such holder may have or be
otherwise charged with. The holders of Senior Indebtedness may extend, renew,
modify or amend the terms of the Senior Indebtedness or any security therefor
and release, sell or exchange such security and otherwise deal freely with the
Company, all without affecting the liabilities and obligations of the parties to
this Indenture or the Holders of the Securities.

SECTION 1309.     TRUSTEE TO EFFECTUATE SUBORDINATION OF SECURITIES.

         Each Holder of a Security by his acceptance thereof authorizes and
expressly directs the Trustee on his behalf to take such action as may be
necessary or appropriate to effectuate the subordination provisions contained in
this Article Thirteen and to protect the rights of the Holders of the Securities
pursuant to this Indenture, and appoints the Trustee his attorney-in-fact for
such purpose, including, in the event of any dissolution, winding up,
liquidation or reorganization of the Company (whether in bankruptcy, insolvency
or receivership proceedings or upon an assignment for the benefit of creditors
of the Company) , the filing of a claim for the unpaid balance of his Securities
in the form required in said proceedings and cause said claim to be approved. If
the Trustee does not file a proper claim or proof of debt in the form required
in such proceeding prior to 30 days before the expiration of the time to file
such claim or claims, then the holders of the Senior Indebtedness or their
representative is hereby authorized to have the right to file and is hereby
authorized to file an appropriate claim for and on behalf of the Holders of said
Securities. Nothing herein contained shall be deemed to authorize the Trustee or
the holders of Senior Indebtedness or their representative to authorize or
consent to or accept or adopt on behalf of any Holder of Securities any plan of
reorganization, arrangement, adjustment or composition affecting the Securities
or the rights of any Holder thereof, or to authorize the Trustee or the holders
of Senior Indebtedness or their representative to vote in respect of the claim
of any Holder of the Securities in any such proceeding.

SECTION 1310.     RIGHT OF TRUSTEE TO HOLD SENIOR INDEBTEDNESS.

         The Trustee in its individual capacity shall be entitled to all of the
rights set forth in this Article Thirteen in respect of any Senior Indebtedness
at any time held by it to the same extent as any other holder of Senior
Indebtedness, and nothing in this Indenture shall be construed to deprive the
Trustee of any of its rights as such holder.

                                       49
<Page>

SECTION 1311.     ARTICLE THIRTEEN NOT TO PREVENT EVENTS OF DEFAULT.

         The failure to make a payment on account of principal of or premium (if
any) or interest on the Securities by reason of any provision of this Article
Thirteen shall not be construed as preventing the occurrence of a Default or an
Event of Default under Section 501 or in any way prevent the Holders of the
Securities from exercising any right hereunder other than the right to receive
payment on the Securities.

SECTION 1312.     NO FIDUCIARY DUTY OF TRUSTEE TO HOLDERS OF SENIOR
INDEBTEDNESS.

         The Trustee shall not be deemed to owe any fiduciary duty to the
holders of Senior Indebtedness of the Company, and shall not be liable to any
such holders (other than for its willful misconduct or negligence) if it shall
in good faith mistakenly pay over or distribute to the Holders of the Securities
or the Company or any other Person, cash, property or securities to which any
holders of Senior Indebtedness of the Company shall be entitled by virtue of
this Article Thirteen or otherwise.

         Nothing in this Section 1312 shall affect the obligation of any other
such Person to hold such payment for the benefit of, and to pay such payment
over to, the holders of Senior Indebtedness or their representative.

SECTION 1313.     ARTICLE APPLICABLE TO PAYING AGENT.

         In case at any time any Payment Agent other than the Trustee shall have
been appointed by the Company and be then acting hereunder, the term "Trustee"
as used in this Article Thirteen shall in such case (unless the context shall
otherwise require) be construed as extending to and including such Payment Agent
within its meaning as fully for all intents and purposes as if such Paying Agent
were named in this Article in addition to or in place of the Trustee; provided,
however, that this Section 1313 shall not apply to the Company or any Affiliate
of the Company if it or such Affiliate acts as Paying Agent.

                               ARTICLE FOURTEEN
                        MEETINGS OF HOLDERS OF SECURITIES

SECTION 1401.     PURPOSES FOR WHICH MEETINGS MAY BE CALLED.

         A meeting of Holders of Securities of any or all series may be called
at any time and from time to time pursuant to this Article to make, give or take
any request, demand, authorization, direction, notice, consent, waiver or other
action provided by this Indenture to be made, given or taken by Holders of
Securities of such series.

SECTION 1402.     CALL, NOTICE AND PLACE OF MEETINGS.

                  (a) The Trustee may at any time call a meeting of Holders of
         Securities of any series for any purpose specified in Section 1401, to
         be held at such time and at such place in Houston, Texas, in New York,
         New York, in London, England, or in any other location, as the Trustee
         shall determine. Notice of every meeting of Holders of Securities of
         any series, setting forth the time and the place of such meeting and in
         general terms the action proposed to be taken at such meeting, shall be
         given, in the manner provided in Section 701, not less than 20 nor more
         than 180 days prior to the date fixed for the meeting.

                  (b) In case at any time the Company, pursuant to a Board
         Resolution, or the Holders of at least 10% in aggregate principal
         amount of the Outstanding Securities of any series, shall have
         requested the Trustee for any such series to call a meeting of the
         Holders of Securities of such series for any purpose specified in
         Section 1401, by written request setting forth in reasonable detail the
         action proposed to be taken at the meeting, and the Trustee shall not
         have made the first publication of the notice of such meeting within 30
         days after receipt of such request or shall not thereafter proceed to
         cause the meeting to be held as provided herein, then the Company or
         the Holders of Securities of such series in the amount above specified,
         as the case may be, may determine the time and the place in Houston,
         Texas, in New York, New York, in London, England, for such meeting and
         may call such meeting for such purposes by giving notice thereof as
         provided in Subsection (a) of this Section.

                                       50
<Page>

SECTION 1403.     PERSONS ENTITLED TO VOTE AT MEETINGS.

         To be entitled to vote at any meeting of Holders of Securities of any
series, a Person shall be (1) a Holder of one or more Outstanding Securities of
such series, or (2) a Person appointed by an instrument in writing as proxy for
a Holder or Holders of one or more Outstanding Securities of such series by such
Holder or Holders. The only Persons who shall be entitled to be present or to
speak at any meeting of Holders of Securities of any series shall be the Persons
entitled to vote at such meeting and their counsel, any representatives of the
Trustee and its counsel and any representatives of the Company and its counsel.

SECTION 1404.     QUORUM; ACTION.

         The Persons entitled to vote a majority in aggregate principal amount
of the Outstanding Securities of a series shall constitute a quorum for a
meeting of Holders of Securities of such series. In the absence of a quorum
within 30 minutes of the time appointed for any such meeting, the meeting shall,
if convened at the request of Holders of Securities of such series, be
dissolved. In any other case, the meeting may be adjourned for a period of not
less than 10 days as determined by the chairman of the meeting prior to the
adjournment of such meeting. In the absence of a quorum at any such adjourned
meeting, such adjourned meeting may be further adjourned for a period of not
less than 10 days as determined by the chairman of the meeting prior to the
adjournment of such adjourned meeting. Subject to Section 1405(d), notice of the
reconvening of any adjourned meeting shall be given as provided in Section
1402(a), except that such notice need be given only once not less than five days
prior to the date on which the meeting is scheduled to be reconvened. Notice of
the reconvening of an adjourned meeting shall state expressly that Persons
entitled to vote a majority in principal amount of the Outstanding Securities of
such series shall constitute a quorum.

         Except as limited by the proviso to Section 902, any resolution
presented to a meeting or adjourned meeting duly reconvened at which a quorum is
present as aforesaid may be adopted by the affirmative vote of the Holders of a
majority in aggregate principal amount of the Outstanding Securities of that
series; provided, however, that, except as limited by the proviso to Section
902, any resolution with respect to any request, demand, authorization,
direction, notice, consent or waiver which this Indenture expressly provides may
be made, given or taken by the Holders of a specified percentage that is less
than a majority in aggregate principal amount of the Outstanding Securities of a
series may be adopted at a meeting or an adjourned meeting duly reconvened and
at which a quorum is present as aforesaid by the affirmative vote of the Holders
of such specified percentage in aggregate principal amount of the Outstanding
Securities of that series.

         Except as limited by the proviso to Section 902, any resolution passed
or decision taken at any meeting of Holders of Securities of any series duly
held in accordance with this Section shall be binding on all the Holders of
Securities of such series, whether or not present or represented at the meeting.

SECTION 1405.     DETERMINATION OF VOTING RIGHTS; CONDUCT AND ADJOURNMENT OF
MEETINGS.

                  (a) The holding of Securities shall be proved in the manner
         specified in Section 105 and the appointment of any proxy shall be
         proved in the manner specified in Section 105. Such regulations may
         provide that written instruments appointing proxies, regular on their
         face, may be presumed valid and genuine without the proof specified in
         Section 105 or other proof.

                  (b) The Trustee shall, by an instrument in writing, appoint a
         temporary chairman of the meeting, unless the meeting shall have been
         called by the Company or by Holders of Securities as provided in
         Section 1402(b), in which case the Company or the Holders of Securities
         of the series calling the meeting, as the case may be, shall appoint a
         temporary chairman. A permanent chairman and a permanent secretary of
         the meeting shall be elected by vote of the Persons entitled to vote a
         majority in aggregate principal amount of the Outstanding Securities of
         such series represented at the meeting.

                  (c) At any meeting each Holder of a Security of such series
         and each proxy shall be entitled to one vote for each $1,000 principal
         amount of the Outstanding Securities of such series held or represented
         by him; provided, however, that no vote shall be cast or counted at any
         meeting in respect of

                                       51
<Page>

         any Security challenged as not Outstanding and ruled by the chairman
         of the meeting to be not Outstanding. The chairman of the meeting
         shall have no right to vote, except as a Holder of a Security of such
         series or as a proxy.

                  (d) Any meeting of Holders of Securities of any series duly
         called pursuant to Section 1402 at which a quorum is present may be
         adjourned from time to time by Persons entitled to vote a majority in
         aggregate principal amount of the Outstanding Securities of such series
         represented at the meeting; and the meeting may be held as so adjourned
         without further notice.

SECTION 1406.     COUNTING VOTES AND RECORDING ACTION OF MEETINGS.

         The vote upon any resolution submitted to any meeting of Holders of
Securities of any series shall be by written ballots on which shall be
subscribed the signatures of the Holders of Securities of such series or of
their representatives by proxy and the principal amounts and serial numbers of
the Outstanding Securities of such series held or represented by them. The
permanent chairman of the meeting shall appoint two inspectors of votes who
shall count all votes cast at the meeting for or against any resolution and who
shall make and file with the secretary of the meeting their verified written
reports in duplicate of all votes cast at the meeting. A record, at least in
duplicate, of the proceedings of each meeting of Holders of Securities of any
series shall be prepared by the secretary of the meeting and there shall be
attached to such record the original reports of the inspectors of votes on any
vote by ballot taken thereat and affidavits by one or more persons having
knowledge of the facts setting forth a copy of the notice of the meeting and
showing that such notice was given as provided in Section 1402 and, if
applicable, Section 1404. Each copy shall be signed and verified by the
affidavits of the permanent chairman and secretary of the meeting and one such
copy shall be delivered to the Company, and another to the Trustee to be
preserved by the Trustee, the latter to have attached thereto the ballots voted
at the meeting. Any record so signed and verified shall be conclusive evidence
of the matters therein stated.

                                     * * *

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

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

                   COOPER CAMERON CORPORATION

                   By:
                      --------------------------------------------------------
                            Name:
                                  --------------------------------------------
                            Title:
                                   -------------------------------------------

                   [-----------------------------------------------]
                                           Trustee

                   By:
                       -------------------------------------------------------
                            Name:
                                  --------------------------------------------
                            Title:
                                   -------------------------------------------

                                       52<Page>
                                                                   EXHIBIT 10.30

                        SEPARATION AND RELEASE AGREEMENT

     This SEPARATION AND RELEASE AGREEMENT (the "Agreement") is made and entered
into by and between PLANETCAD INC., ("PLANETCAD") and RICHARD SOWAR ("MR.
SOWAR") (collectively "parties").

                                   I. RECITALS

     WHEREAS, effective as of October 1, 2001, Mr. Sowar's employment as Chief
Technology Officer and any and all other employment positions that Mr. Sowar may
have held at PlanetCAD or its subsidiaries shall cease; and

     WHEREAS, the parties wish to make the separation amicable but conclusive on
the terms and conditions set forth herein; and

     WHEREAS, the mutual considerations expressed herein are deemed by each
party sufficient for their respective promises and covenants; and

     WHEREAS, Mr. Sowar accepts the benefits of this Agreement with the
acknowledgment that by its terms he has been fully and satisfactorily
compensated.

                                  II. COVENANTS

     THEREFORE, in consideration of the mutual promises and covenants contained
in this Agreement, it is hereby agreed by and between the parties hereto as
follows:

     1.   RESIGNATION.

          (a) Mr. Sowar hereby confirms his resignation from his employment as
Chief Technology Officer and any and all other employment and officer positions
that Mr. Sowar may have held at PlanetCAD or its subsidiaries effective October
1, 2001 ("Separation Date").

          (b) Mr. Sowar also shall sign the letter attached as Exhibit C, which,
once delivered to PlanetCAD, shall be irrevocable, any other provision of this
Agreement notwithstanding.

     2.   ACCRUED SALARY AND PAID TIME OFF. As of the Separation Date, the
Company will pay Mr. Sowar all accrued salary and all accrued and unused
vacation earned through the Separation Date, subject to standard payroll
deductions and withholdings. Mr. Sowar is entitled to these payments by law.

     3.   TRANSITION DUTIES AND RESPONSIBILITIES. From the Separation Date until
the SIX MONTH anniversary thereof (the "Transition Period"), Mr. Sowar shall
provide continuing services as a consultant to PlanetCAD on an as-requested
basis; provided that (i) Mr. Sowar shall not be required to report to work
regularly at PlanetCAD's

                                        1
<Page>

facility, but shall provide such consulting services as are reasonably requested
from time to time by PlanetCAD's chief executive officer or his designee, at
such times and places as PlanetCAD shall reasonably request; (ii) PlanetCAD
shall exercise reasonable efforts to eliminate or minimize the extent to which
its requests for consulting services create scheduling conflicts with respect to
other business matters in which Mr. Sowar may be engaged; and (iii) PlanetCAD
shall reimburse Mr. Sowar for out-of-pocket expenses that he reasonably and
necessarily incurs in connection with providing such consulting services, so
long as Mr. Sowar seeks and receives prior approval of such expenses.

     4.   CONSIDERATION. Although the Company has no policy or procedure
requiring payment of any severance benefits nor any contractual obligation to
Mr. Sowar to do so, the Company agrees to the following as part of this
Agreement.

          (a) PAYMENT. If, but only if, Mr. Sowar does not exercise his right of
revocation under paragraph 20(b), below, PlanetCAD shall pay Mr. Sowar a total
amount of TWO HUNDRED THOUSAND DOLLARS AND ZERO CENTS ($200,000.00) IN ONE LUMP
SUM in accordance with PlanetCAD's standard payment practices, which includes
payroll deductions for local, state and federal taxes. Said payment shall be
made on the Effective Date of this Agreement as defined in Paragraph 20(b).

          (b) INSURANCE. If, but only if, Mr. Sowar does not exercise his right
of revocation under paragraph 20(b), below, PlanetCAD will pay the premium cost
for continuing Mr. Sowar's medical, vision, and dental benefits as permitted by
COBRA from October 1, 2001 through September 30, 2002 or until Mr. Sowar becomes
eligible for coverage under another plan, if earlier.

          (c) STOCK OPTIONS. If, but only if, Mr. Sowar does not exercise his
right of revocation under paragraph 20(b), below, then the stock options granted
to Mr. Sowar by PlanetCAD on our about October 17, 1996 (two grants covering a
total of 130,833 shares), October 22, 1998 (two grants covering a total of
50,000 shares), and April 26, 2001 (one grant covering 50,000 shares) (each, an
"Option," and collectively, the "Options") shall be hereby amended such that
each Option shall be deemed fully vested as of the Effective Date, and shall
remain fully exercisable until October 1, 2006, notwithstanding any language to
the contrary in the stock option agreements and/or equity incentive plans
pursuant to which the Options were granted (collectively the "Option Agreements
and Plans"). Mr. Sowar understands that this amendment and/or his exercise of
certain of the Options more than 90 days after the termination of his employment
may affect their characterization as "Incentive Stock Options" and the
application of certain preferential tax treatment afforded to holders of such
Incentive Stock Options, and assumes all risks, costs, expenses and tax
liabilities relating to or arising from the amendment and/or the deferred
exercise of any Option. Mr. Sowar understands and agrees that he should seek
independent professional advice concerning tax and legal matters relating to the
Options and the amendment thereto effected by this Agreement, acknowledges that
he has had a full and fair opportunity to do so, and further acknowledges and
agrees that he has not relied on any information or advice provided by PlanetCAD
or any representative, agent or attorney thereof

                                        2
<Page>

relating to any matterpertaining to this Agreement, including particularly but
without limitation the legal and tax issues relating to the Options and the
amendment thereof. Except as specifically stated in this paragraph, the Options
shall remain in force and effect in accordance with, and subject to, the terms
and conditions stated in the Option Agreements and Plans

     5.   ACKNOWLEDGEMENT. Except as provided for in paragraph 4, Mr. Sowar
acknowledges and agrees that before the effective date of this Agreement he had
been paid all sums that he had earned, or to which he otherwise was entitled, in
connection with his employment with PlanetCAD.

     6.   LOAN FORGIVENESS. If, but only if, Mr. Sowar does not exercise his
right of revocation under paragraph 20(b), below, as of the Effective Date, the
Company shall forgive all outstanding principal and interest payable to it by
Mr. Sowar under that certain promissory note, a copy of which is attached as
Exhibit B, and shall mark the note "cancelled" and return it to Mr. Sowar. Sowar
understands and agrees that the forgiveness of this note creates a tax
withholding obligation on the part of PlanetCAD, and authorizes PlanetCAD to
withhold taxes relating to such forgiveness from the payment payable to him
under paragraph 4 of this Agreement.

     7.   OTHER COMPENSATION. Except as expressly provided herein, Mr. Sowar
acknowledges and agrees that he will not receive (nor is he entitled to receive)
any additional consideration, payments, reimbursements, incentive payments,
stock, equity interests, or benefits of any kind. Mr. Sowar also acknowledges
and agrees that neither this Agreement, nor any other agreement which he has
with PlanetCAD, creates any obligation on the part of PlanetCAD to repurchase
any shares of PlanetCAD stock owned by Mr. Sowar at any time.

     8.   DENIAL OF LIABILITY. The parties acknowledge that any payment by
PlanetCAD and any release by Mr. Sowar pursuant to this Agreement are made in
compromise of disputed claims; that in making any such payment or release,
PlanetCAD and Mr. Sowar in no way admit any liability to each other; and that
the parties expressly deny any such liability.

     9.   NONDISPARAGEMENT. Mr. Sowar and PlanetCAD agree that neither party
will at any time disparage the other to third parties, in any manner likely to
be harmful to the other party, their business reputation, or the personal or
business reputation of its directors, shareholders and/or employees.
Notwithstanding the prohibition in the preceding sentence, each party shall
respond accurately and fully to any question, inquiry, or request for
information when required by legal process.

     10.  PLANETCAD PROPERTY. Immediately preceding the Separation Date, Mr.
Sowar agrees to return to PlanetCAD all PlanetCAD documents (and all copies
thereof) and any and all other PlanetCAD property in his possession, custody or
control, including, but not limited to, financial information, customer
information, customer lists, employee lists, PlanetCAD files, notes, contracts,
drawings, records, business plans and forecasts, financial information,
specifications, computer-recorded information,

                                        3
<Page>

software, tangible property, credit cards, entry cards, identification badges
and keys, and any materials of any kind which contain or embody any proprietary
or confidential material of PlanetCAD and all reproductions thereof
(collectively, "PlanetCAD Information"), excepting only one lap top computer
(Toshiba Tectra 8100), one printer, one Palm PDA, and one mobile telephone
(which Mr. Sowar may retain but to which Mr. Sowar shall be responsible for all
charges for the period following the Transition Period). Notwithstanding any
other provision of this Agreement, until the end of the Transition Period Mr.
Sowar shall be entitled to retain, and use in connection with his performance of
the consulting services contemplated by paragraph 3, above, such PlanetCAD
Information as is necessary for the performance of such services, provided that
at the end of the Transition Period Mr. Sowar shall return all such PlanetCAD
information to PlanetCAD, and not retain any such PlanetCAD Information in any
form. In addition, this Agreement shall not prohibit Mr. Sowar from making and
retaining a paper and/or electronic copy of his personal contact database.

     11.  PROPRIETARY INFORMATION AND INVENTIONS. Mr. Sowar acknowledges and
agrees that he has executed and is and shall be bound by the Proprietary
Information and Inventions Agreement he executed on August 12, 1986 (the
"Confidential Information Agreement"), a copy of which is attached as Exhibit A,
and which is and shall remain a separate and distinct agreement between Mr.
Sowar and PlanetCAD and which shall survive the execution of this Agreement.
Nothing in this Agreement shall be construed to narrow, supercede, modify or
affect in any way the obligations of Mr. Sowar imposed by that or any other
agreement, law, or other source; provided, however, that section 14 of this
Agreement shall supercede section 9(i) and 9(ii) (but no other section) of the
Confidential Information Agreement (the "Pre-existing Non-Compete"), which
Pre-existing Noncompete shall hereafter be of no further force or effect.

     12.  CONFIDENTIALITY OF AGREEMENT. Mr. Sowar and PlanetCAD acknowledge that
confidentiality and nondisclosure are material considerations for the parties
entering into this Agreement. As such, the provisions of this Agreement shall be
held in strictest confidence by Mr. Sowar and PlanetCAD and shall not be
publicized or disclosed in any manner whatsoever, including but not limited to,
the print or broadcast media, any public network such as the Internet, any other
outbound data program such as computer generated mail, reports or faxes, or any
source likely to result in publication or computerized access. Notwithstanding
the prohibition in the preceding sentence: (a) Mr. Sowar may disclose this
Agreement to his immediate family and the parties may disclose this Agreement in
confidence to their respective attorneys, accountants, auditors, tax preparers,
and financial advisors, provided that such third parties agree in advance to
keep such matters confidential; (b) PlanetCAD may disclose this Agreement as
necessary to fulfill standard or legally required corporate reporting or
disclosure requirements; (c) the parties may disclose this Agreement upon
request from any government entity or court of law of competent jurisdiction;
and (d) the parties may disclose this Agreement insofar as such disclosure may
be necessary to enforce its terms or as otherwise required by law, including
without limitation as required by any form of securities-related statute or
regulation. PlanetCAD agrees that it may disclose the provisions of this
Agreement only to such officers or employees of

                                        4
<Page>

PlanetCAD who have a legitimate business need to know of such matters, and only
if those individuals agree in advance to keep such matters confidential.

     13.  UNEMPLOYMENT COMPENSATION. PlanetCAD agrees that it will not contest
any claim filed by Employee or any award made for unemployment compensation as a
result of his termination from employment with PlanetCAD.

     14.  COVENANT NOT TO COMPETE.

          (a) During the Transition Period, Mr. Sowar shall not, whether as an
officer, director, employee, consultant, owner, shareholder, adviser, or joint
venturer, or otherwise engage in any business or other commercial activity
anywhere in the world (the "Protected Region") which directly competes with
PlanetCAD in the development, implementation, marketing or sale of automated
supply chain management solutions ("Competing Business"). This covenant shall
not prohibit Mr. Sowar from owning less than two percent of the securities of
any competitor of PlanetCAD, if such securities are publicly traded on a
nationally recognized stock exchange or over-the-counter market. Mr. Sowar
acknowledges that the foregoing geographic restriction on competition is fair
and reasonable, given the nature and geographic scope of PlanetCAD's business
operations and the nature of Mr. Sowar's position with PlanetCAD. Mr. Sowar also
acknowledges that while employed by PlanetCAD, Mr. Sowar has had access to
information that would be valuable or useful to PlanetCAD's competitors, and
therefore acknowledges that the foregoing restrictions on Mr. Sowar's future
activities are fair and reasonable.

          (b) Mr. Sowar acknowledges the following provisions of Colorado law,
set forth in Colorado Revised Statutes Section 8-2-113(2):

          Any covenant not to compete which restricts the right of any person to
          receive compensation for performance of skilled or unskilled labor for
          any employer shall be void, but this subsection (2) shall not apply
          to:
               ...

               (b)  Any contract for the protection of trade secrets;

               ...

               (d)  Executive and management personnel and officers and
                    employees who constitute professional staff to executive and
                    management personnel.

Mr. Sowar acknowledges that this Agreement is a contract for the protection of
trade secrets within the meaning of Section 8-2-113(2)(b) and is intended to
protect the Confidential Information and Confidential Records identified above
and that during his employment with PlanetCAD he served as an executive or
manager, or professional staff to an executive or manager within the meaning of
Section 8-2-113(2)(d).

                                        5
<Page>

     15.  RELEASE OF CLAIMS BY MR. SOWAR. For the consideration set forth in
this Agreement and the mutual covenants of PlanetCAD and Mr. Sowar, Mr. Sowar
hereby releases, acquits and forever discharges PlanetCAD and its affiliated
corporations and entities, predecessors, officers, directors, agents,
representatives, servants, attorneys, employees, shareholders, heirs, personal
representative, spouses, beneficiaries, executors, trustees, successors and
assigns, all or whom are collectively referred to as "PlanetCAD Releasees", of
and from any and all claims, liabilities, demands, causes of action, costs,
expenses, attorneys' fees, damages, indemnities and obligations of every kind
and nature, in law, equity, or otherwise, known or unknown, suspected and
unsuspected, disclosed and undisclosed, liquidated or contingent, arising out of
or in any way related to agreements, events, acts or conduct at any time prior
to and including the Effective Date, including but not limited to: any and all
such claims and demands directly or indirectly arising out of or in any way
connected with Mr. Sowar's employment with PlanetCAD or the conclusion of that
employment; claims or demands related to salary, bonuses, commissions, incentive
payments, stock, stock options, or any ownership or equity interests in
PlanetCAD; vacation pay, personal time off, fringe benefits, expense
reimbursements, sabbatical benefits, severance benefits, or any other form of
compensation; claims pursuant to any federal, any state or any local law,
statute, common law or cause of action including, but not limited to, the
federal Civil Rights Act of 1964, as amended; attorney's fees, costs, or any
other expenses under Title VII of the Civil Rights Act of 1964, as amended; the
Employment Retirement Income Security Act; the federal Americans with
Disabilities Act of 1990; the Family and Medical Leave Act; the Colorado
Discrimination and Unfair Employment Act, tort law; wrongful discharge;
discrimination; harassment; fraud; negligence, breach of fiduciary duty; claims
for expense reimbursement; defamation; libel; emotional distress; and breach of
the implied covenant of good faith and fair dealing. Mr. Sowar warrants and
represents that he has not filed or otherwise made or asserted any claim,
complaint, or charge against PlanetCAD or any predecessor, affiliate or agent
thereof with any entity including without limitation the Equal Employment
Opportunity Commission and any local, state or federal administrative body or
court. Mr. Sowar agrees that in the event he brings a claim or charge covered by
this release or does not dismiss and withdraw any claim covered by this release,
in which he seeks damages or any other relief against PlanetCAD or in the event
he seeks to recover against PlanetCAD in any claim brought by a governmental
agency on his behalf, this Agreement shall serve as a complete defense to such
claims or charges. By this provision, Mr. Sowar does not release or waive any
right he has to enforce any of PlanetCAD's obligations under this Agreement, to
assert claims in the future based upon any act or omission committed by
PlanetCAD after the Effective Date of this Agreement. Notwithstanding any other
provision of this Agreement, this Agreement shall not be construed or applied so
as to impair, limit or otherwise affect in any way Mr. Sowar's right to
indemnity or defense with respect to acts or omissions occurring during or in
connection with his service as an officer, director and/or consultant to
PlanetCAD.

     16.  PLANETCAD RELEASE OF MR. SOWAR. PlanetCAD, for itself and its
affiliates, (collectively, "PlanetCAD Releasers"), hereby fully and forever
releases and discharges Mr. Sowar, and his heirs, representatives, assigns,
attorneys, and any and all other persons or entities that are now or may become
liable to any PlanetCAD

                                        6
<Page>

Releaser on account of Mr. Sowar's employment with PlanetCAD or separation
therefrom, all of whom are collectively referred to as "Mr. Sowar's Releasees,"
of and from any and all actions, causes of action, claims, demands, liabilities,
costs and expenses, including attorneys' fees, damages and obligations of every
kind and nature whatsoever, in law, equity or otherwise, whether known or
unknown, suspected and unsuspected, disclosed and undisclosed, liquidated or
contingent, arising out of or in any way related to agreements, events, acts or
conduct at any time prior to and including the Effective Date, including but not
limited to claims that PlanetCAD Releasers, or any person acting under any of
them, had, owned or held, claimed to have, own or hold or may now have, or claim
at any future time to have against Mr. Sowar or his Mr. Sowar's Releasees, based
in whole or in part upon any act or omission occurring prior to and including
the Effective Date, without regard to present actual knowledge of such acts or
omissions; EXCEPT as specifically provided otherwise in this Agreement; and
EXCEPT claims arising from or relating to any intentional or willful act or
omission on the part of Mr. Sowar.

     17.  TAX CONSEQUENCES. Mr. Sowar agrees to pay all of his share of taxes
due in connection with payment or other benefits he receives under this
Agreement, and to indemnify PlanetCAD for and hold PlanetCAD harmless from any
and all taxes, interest, penalties and all related costs and expenses asserted
against or incurred by PlanetCAD in connection with any failure to withhold or
pay taxes due on any consideration provided by PlanetCAD pursuant to this
Agreement, and/or the loan forgiveness reflected in paragraph 6 above. Mr. Sowar
expressly acknowledges that PlanetCAD has not made, nor herein makes, any
representation about the tax consequences of any consideration provided by
PlanetCAD to Mr. Sowar pursuant to this Agreement, and that he understands that
he should seek professional tax advice before executing this Agreement.

     18.  ADMINISTRATIVE MATTERS. Mr. Sowar covenants that following the
Effective Date he will not take any action, or encourage any other person to
take any action, calculated or likely to result in the initiation or an inquiry,
investigation or other action concerning PlanetCAD by any federal, state or
local governmental body or agency; provided, however, that nothing in this
paragraph 18 shall in any way limit or curtail Mr. Sowar's rights as a
shareholder of the Company to participate to the fullest extent in any and all
shareholder meetings, discussions or any other activities associated with the
ownership of Company stock.

     19.  COVENANT OF COOPERATION IN LITIGATION. Mr. Sowar acknowledges that
because of his position with PlanetCAD, he may possess information that may be
relevant to or discoverable in litigation in which PlanetCAD is involved or may
in the future be involved. Mr. Sowar agrees that he shall testify truthfully in
connection with any such litigation, shall cooperate with PlanetCAD in
connection with such litigation, and that his duty of cooperation shall include
an obligation to meet with PlanetCAD representatives and/or counsel concerning
such litigation for such purposes, and at such times and places, as PlanetCAD
deems necessary, in its sole discretion, and to appear for deposition upon
PlanetCAD's request and without a subpoena. Mr. Sowar shall not be entitled to
any compensation in connection with his duty of cooperation,

                                        7
<Page>

except that PlanetCAD may reimburse Mr. Sowar for reasonable out-of-pocket
expenses that he incurs in honoring his obligation of cooperation.

     20.  ACKNOWLEDGMENT OF RIGHTS UNDER THE OLDER WORKER'S BENEFITS PROTECTION
ACT.

          (a) Mr. Sowar agrees and acknowledges that he: (i) understands the
language used in this Agreement and the Agreement's legal effect; (ii)
understands that by signing this Agreement he is giving up the right to sue
PlanetCAD for age discrimination; (iii) will receive compensation under this
Agreement to which he would not have been entitled without signing this
Agreement; (iv) has been advised by PlanetCAD to consult with an attorney and
tax advisor before signing this Agreement; and (v) was given no less than
twenty-one days to consider whether to sign this Agreement.

          (b) For a period of seven calendar days after the execution of this
Agreement, Mr. Sowar may, in his sole discretion, rescind this Agreement, by
delivering a written notice of recision to PlanetCAD. If Mr. Sowar rescinds this
Agreement within seven calendar days after the execution of this Agreement, this
Agreement shall be void, all actions taken pursuant to this Agreement (excepting
only as set forth in paragraph 1(b), above) shall be reversed, and neither this
Agreement nor the fact of or circumstances surrounding its execution shall be
admissible for any purpose whatsoever in any proceeding between the parties,
except in connection with a claim or defense involving the validity or effective
rescission of this Agreement. If Mr. Sowar does not rescind this Agreement
within seven calendar days after the execution of the Agreement, this Agreement
shall become final and binding and shall be irrevocable ("Effective Date").

     21.  NO THIRD-PARTY RIGHTS. The parties agree that by making this Agreement
they do not intend to confer any benefits, privileges, or rights to others. The
Agreement is strictly between the parties hereto, subject to the terms of
paragraph 24 below, and shall not be construed to vest in any other the status
of third-party beneficiary.

     22.  VOLUNTARY AND KNOWINGLY. Mr. Sowar acknowledges that in executing this
Agreement, he has reviewed it and understands its terms and has had an
opportunity and was advised to seek guidance from counsel of his own choosing,
and was fully advised of his rights under law, and acted knowingly and
voluntarily.

     23.  DUTY TO EFFECTUATE. The parties agree to perform any lawful additional
acts, including the execution of additional agreements, as are reasonably
necessary to effectuate the purpose of this Agreement.

     24.  ENTIRE AGREEMENT. This Agreement, including the incorporated Exhibits
A, B and C, constitutes the complete, final and exclusive embodiment of the
entire agreement between Mr. Sowar and PlanetCAD with regard to the subject
matter hereof. This Agreement is entered into without reliance on any promise or
representation,

                                        8
<Page>

written or oral, other than those expressly contained herein. It may not be
modified, amended or changed except in writing signed by Mr. Sowar and the
President and CEO of PlanetCAD, Inc.

     25.  SUCCESSORS AND ASSIGNS. This Agreement shall bind the heirs, personal
representatives, successors, assigns, executors and administrators of each
party, and inure to the benefit of each party, its heirs, successors and
assigns.

     26.  APPLICABLE LAW. The parties agree and intend that this Agreement be
construed and enforced in accordance with the laws of the State of Colorado.

     27.  FORUM. Any controversy arising out of or relating to this Agreement or
the breach thereof, or any claim or action to enforce this Agreement or portion
thereof, or any controversy or claim requiring interpretation of this Agreement
must be brought in a forum located within the State of Colorado. No such action
may be brought in any forum outside the State of Colorado. Any action brought in
contravention of this paragraph by one party is subject to dismissal at any time
and at any stage of the proceedings by the other, and no action taken by the
other in defending, counterclaiming, or appealing shall be construed as a waiver
of this right to immediate dismissal. A party bringing an action in
contravention of this paragraph shall be liable to the other party for the
costs, expenses and attorney's fees incurred in successfully dismissing the
action or successfully transferring the action to a forum located within the
State of Colorado.

     28.  SEVERABLE. If any provision of this Agreement is determined to be
invalid, void or unenforceable, in whole or in part, this determination will not
affect any other provision of this Agreement, and the provision in question
shall be modified so as to be rendered enforceable.

     29.  ENFORCE ACCORDING TO TERMS. The parties intend this Agreement to be
enforced according to its terms and the language of all parts of this Agreement
shall in all cases be construed as a whole, according to its fair meaning, and
not strictly for or against either of the parties.

     30.  ATTORNEY'S FEES. The prevailing party in an action to enforce the
terms of this Agreement shall be entitled to its reasonable costs, expenses, and
attorney's fees.

     31.  SECTION HEADINGS. The section and paragraph headings contained in this
Agreement are for reference purposes only and shall not affect in any way the
meaning or interpretation of this Agreement.

                                        9
<Page>

     IN WITNESS WHEREOF, the parties have duly authorized and caused this
Agreement to be executed as follows:

Richard Sowar                               PlanetCAD INC.
An individual

         /s/ Richard Sowar                  By:      /s/ Jim Bracking
---------------------------------              -----------------------------
Richard Sowar
                                            Its:     President and CEO
                                                -----------------------------
Date:  October 18, 2001                     Date: October 18, 2001
     ------------                                         --

                                       10

<Page>

                                    Exhibit A
                   Non-Competition, Non-Disclosure and Patent
                       and Invention Assignment Agreement

                                                                 August 12, 1986

     In consideration of my employment or continued employment, as the case may
be, with Spacial Technology, Incorporated, a Delaware corporation (the
"Company"), and the compensation received by me from the Company from time to
time, I, Richard M. Sowar, hereby agree with the Company as follows:

     1.   PROPRIETARY INFORMATION AND INVENTIONS. I understand and acknowledge
that:

          (a)  The Company is engaged in a continuous program of research,
     design, development, production and marketing with respect to its business
     and that as part of my employment by the Company I am (or may be) expected
     to make new contributions and inventions of value to the Company.

          (b)  My employment creates a relationship of confidence and trust
     between me and the Company with respect to certain information applicable
     to the business of the Company or applicable to the business of any client
     or customer of the Company, which may be made known to me by the Company or
     by any client or customer of the Company, or learned by me during the
     period of my employment.

          (c)  The Company possesses and will continue to possess information
     that has been created, discovered, or developed by, or otherwise become
     known to, the Company (including, without limitation, information created,
     discovered, developed or made known by me during the period of or arising
     out of my employment by the Company) or in which property rights have been
     or may be assigned or otherwise conveyed to the Company, which information
     has commercial value in the business in which the Company is engaged and is
     treated by the Company as confidential. All such information is hereinafter
     called "Proprietary Information", which term, as used herein, shall also
     include, but shall not be limited to, systems, processes, formulae, data,
     functional specifications, computer programs, know-how, improvements,
     discoveries, developments, designs, inventions, techniques, marketing
     plans, strategies, forecasts, new products, unpublished financial
     statements, budgets, projections, licenses, prices, costs, and customer and
     supplier lists.

          (d)  As used herein, the period of my employment includes any time
     during which I may be retained by the Company as a consultant.

     2.   OWNERSHIP OF PROPRIETARY INFORMATION. All Proprietary Information
shall be the sole property of the Company and its assigns, and the Company and
its assigns shall be the sole owner of all patents, copyrights, trademarks and
other rights in connection therewith. I hereby assign to the Company any rights
I may have or acquire in such Proprietary Information. At all times, both during
my employment by the Company and after its termination, I will keep

<Page>

in strictest confidence and trust all Proprietary Information and I will not use
or disclose any Proprietary Information without the written consent of the
Company.

     3.   OTHER EMPLOYMENT. During the period of my employment by the Company I
will not, without the Company's prior written consent, engage in any employment
or business other than for the Company.

     4.   DOCUMENTATION. In the event of the termination of my employment for
any reason, I will deliver to the Company all documents, notes, drawings,
specifications, computer programs, data, and other materials of any nature
pertaining to any Proprietary Information or to my work with the Company, and
will not take any of the foregoing, or any reproduction of any of the foregoing
that is embodied in a tangible medium of expression.

     5.   DISCLOSURE OF INVENTIONS. I will promptly disclose to the Company (or
any persons designated by it) all discoveries, developments, designs,
improvements, inventions, formulae, processes, techniques, computer programs,
know-how, and data, whether or not patentable or registrable under copyright or
similar statutes, made or conceived or reduced to practice or learned by me,
either alone or jointly with others, during the period of my employment that are
related to the business of the Company, result from tasks assigned to me by the
Company, or result from the use of premises or property (including computer
systems) owned, leased, or contracted for by the Company (all such discoveries,
developments, designs, improvements, inventions, formulae, processes,
techniques, computer programs, know-how, and data are hereinafter referred to as
"Inventions"). I will also promptly disclose to the Company, and the Company
hereby agrees to receive all such disclosures in confidence, all other
discoveries, developments, designs, improvements, inventions, formulae,
processes, techniques, computer programs, strategies, know-how, and data,
whether or not patentable or registrable under copyright or similar statutes,
made or conceived or reduced to practice or learned by me, either alone or
jointly with others, during the period of my employment for the purpose of
determining whether they constitute "Inventions", as defined above.

     6.   OWNERSHIP OF INVENTIONS. All Inventions shall be the sole property of
the Company and its assigns, and the Company and its assigns shall be the sole
owner of all patents, copyrights, trademarks and other rights in connection
therewith. I hereby assign to the company any rights I may have or acquire in
such Inventions. I shall assist the Company in every proper way as to all such
Inventions (but at the Company's expense) to obtain and from time to time
enforce patents, copyrights, trademarks and other rights and protections
relating to said Inventions in any and all countries, and to that end I will
execute all documents for use in applying for and obtaining such patents,
copyrights, trademarks and other rights and protections on and enforcing such
Inventions, as the Company may desire, together with any assignments thereof to
the Company or persons designated by it. My obligation to assist the Company in
obtaining and enforcing patents, copyrights, trademarks and other rights and
protections relating to such Inventions in any and all countries shall continue
beyond the termination of my employment, but the Company shall compensate me at
a reasonable rate after my termination for time actually spent by me at the
Company's request on such assistance. In the event the Company is unable, after
reasonable effort, to secure my signature on any document or documents needed to
apply for or prosecute any patent, copyright, or other right or protection
relating to an Invention, for any other reason whatsoever, I hereby irrevocably
designate and

                                       2
<Page>

appoint the Company and its duly authorized officers and agents as my agent and
attorney-in-fact, to act for and on my behalf to execute and file any such
application or applications and to do all other lawfully permitted acts to
further the prosecution and issuance of patents, copyrights, or similar
protections thereon with the same legal force and effect as if executed by me.

     7.   PRIOR EMPLOYMENT AGREEMENTS. I represent and warrant that my
performance of all the terms of this Agreement and as an employee of the Company
does not and will not breach any agreement to keep in confidence proprietary
information acquired by me in confidence or in trust prior to my employment by
the Company. I have not entered into and shall not enter into any agreement,
either written or oral, in conflict herewith.

     8.   USE OF CONFIDENTIAL INFORMATION OF OTHER PERSONS. I represent, as part
of the consideration for the offer of employment extended to me by the Company
and of my employment or continued employment by the Company, that I have not
brought and will not bring with me to the Company or use at the Company any
materials or documents of a former employer that are not generally available to
the public, unless express written authorization from the former employer for
their possession and use has been obtained. I also understand that, in my
employment with the Company, I am not to breach any obligation of
confidentiality that I have to former employers and agree to fulfill all such
obligations during my employment with the Company.

     9.   RESTRICTIVE COVENANT. I hereby acknowledge and recognize my possession
of Proprietary Information and the highly competitive nature of the business of
the Company and accordingly agree that, in consideration of the premises
contained herein, I will not, during the period of my employment by the Company
or for a period of two years following the termination of my employment with the
Company for any reason whatsoever, (i) directly or indirectly engage in any
Competitive Business (as hereinafter defined), whether such engagement shall be
as an employer, officer, director, owner, employee, partner or other participant
in any Competitive Business, (ii) assist others in engaging in any Competitive
Business in the manner described in the foregoing clause (i), or (iii) induce
employees of the Company or its subsidiaries to terminate their employment with
the Company or such affiliate or subsidiary or engage in any Competitive
Business. As used in this Section 9 the term "Competitive Business" means and
includes the business conducted by the Company or any of its affiliates or
subsidiaries on the date hereof or as shall be conducted by the Company or any
of its affiliates or subsidiaries upon the termination of my employment with the
Company, in each case limited geographically to any state of the United States
in which the Company conducts, or in which the Company shall conduct, at any
time, during the period commencing with the date of this Agreement through the
second anniversary of the date of termination of any employment, its business.

     10.  REMEDIES. My duties under this Agreement shall survive termination of
my employment with the Company. I acknowledge that a remedy at law for any
breach or threatened breach of the provisions of this Agreement would be
inadequate and therefore agree that the Company shall be entitled to injunctive
relief in addition to any other available rights and remedies in case of any
such breach or threatened breach; PROVIDED, HOWEVER, that nothing contained
herein shall be construed as prohibiting the Company from pursuing any other
remedies available for any such breach or threatened breach.

                                       3
<Page>

     11.  ASSIGNMENT. This Agreement and the rights and obligations of the
parties hereto shall bind and inure to the benefit of any successor or
successors of the Company by reorganization, merger or consolidation or
otherwise and any assignee of all or substantially all of its business and
properties, except that neither this Agreement nor any rights or benefits
hereunder may be assigned by me.

     12.  INTERPRETATION. It is the desire and intent of the parties hereto that
the provisions of this Agreement shall be enforced to the fullest extent
permissible under the laws and public policies applied in each jurisdiction in
which enforcement is sought. Accordingly, if any particular provision of this
Agreement shall be adjudicated to be invalid or unenforceable, such provision
shall be deemed amended to delete therefrom the portion thus adjudicated to be
invalid or unenforceable, such deletion to apply only with respect to the
operation of such provision in the particular jurisdiction in which such
adjudication is made. In addition, if any one or more of the provisions
contained in this Agreement shall for any reason be held to be excessively broad
as to duration, geographical scope, activity or subject, it shall be construed
by limiting and reducing it, so as to be enforceable to the extent compatible
with the applicable law as it shall then appear.

     13.  NOTICES. Any notice which a party is required or may desire to give
pursuant to this Agreement shall be given by personal delivery or registered or
certified mail, return receipt requested, addressed to the undersigned employee
at the address of the employee of record with the Company and addressed to the
Company at its principal office, or at such other place as either party may from
time to time designate in writing. The date of personal delivery or the dates of
mailing any such notice shall be deemed to be the date of delivery thereof.

     14.  WAIVERS. If either party shall waive any breach of any provision of
this Agreement, he or it shall not thereby be deemed to have waived any
preceding or succeeding breach of the same or any other provision of this
Agreement.

     15.  HEADINGS. The headings of the sections hereof are inserted for
convenience only and shall not be deemed to constitute a part hereof nor to
affect the meaning hereof.

     16.  GOVERNING LAW. This Agreement shall be governed by, and construed and
enforced in accordance with, the laws of the State of Colorado.

     17.  COMPLETE AGREEMENT; AMENDMENTS; PRIOR AGREEMENTS. The foregoing is the
entire agreement of the parties with respect to the subject matter hereof and
may not be amended, supplemented, cancelled or discharged except by written
instrument executed by both parties hereto. This Agreement supersedes any and
all prior agreements between the parties hereto with respect to the matters
covered hereby.

                                        /s/ Richard M. Sowar
                                        -----------------------------------
                                        Employee

Accepted and agreed to as of
the date first above written by
SPACIAL TECHNOLOGY INCORPORATED

By :      [ILLEGIBLE]
     --------------------------

                                       4
<Page>

                                    EXHIBIT B
                                 PROMISSORY NOTE

$30,000.00                                                     Boulder, Colorado
                                                                 August 14, 2000

     FOR VALUE RECEIVED, the undersigned, Richard M. Sowar ("Borrower"), whose
address is 3008 Lakeridge Trail, Boulder, CO 80302, promises to pay to the order
of PlanetCAD Inc., a Delaware corporation, or its permitted successors and
assigns (collectively, the "Holder"), at 2520 55th Street, Suite 200, Boulder,
Colorado 80301 or at such other place as Holder may designate in writing, the
principal sum of Thirty Thousand and No/100ths Dollars ($30,000.00), together
with interest on the unpaid principal balance from the date hereof until paid at
the rate of 8% per annum.

     All amounts payable under this Note shall be due and payable on August 14,
2002. All payments made hereunder shall be payable in immediately available
United States funds to the Holder pursuant to the written instructions of the
Holder. If any payments are required to be made on a day that is not a Business
Day (as hereinafter defined), the date on which such payment is required to be
made shall be extended to, and such payment shall be required to be made on, the
next Business Day. "Business Day" shall mean a day other than Saturday, Sunday
and any day that shall be in the City of Denver, Colorado, a legal holiday or a
day on which banking institutions are authorized by law to close.

     This Note may be prepaid, in whole or in part, at any time and from time to
time, without premium or penalty, at the option of the Borrower.

     All payments received hereunder, including prepayments as provided below,
shall be applied first to accrued interest as of the date of payment and then to
the outstanding principal balance on this Note; provided, however, that during
the existence of any default or delinquency under this Note, Holder, at Holder's
option, may apply all payments made on this Note to the payment of such amounts
due to Holder hereunder, including without limitation late charges as provided
below, in such order as Holder elects.

     Any notice provided for in this Note shall be in writing and shall be given
and be effective upon delivery to the party or mailing such notice by certified
mail, return receipt requested, addressed to the party at the address stated
above, or to such other address as the party may designate by notice given in
accordance with this paragraph.

<Page>

     In the event this Note is placed in the hands of an attorney for collection
or in the event that proceedings at law or in equity or bankruptcy, receivership
or other legal proceedings are instituted in connection herewith, or in the
event this Note is placed in the hands of an attorney to protect, defend or
enforce the rights of Holder, Borrower agrees to pay to Holder all of Holder's
costs of collecting or attempting to collect this Note or protecting, defending
or enforcing such rights, including without limitation court costs and
reasonable attorneys' fees, in addition to all principal, interest and other
amounts payable hereunder.

     The undersigned hereby waives presentment, demand for payment, notice of
dishonor, and any and all other notices or demands in connection with the
delivery, acceptance, performance, default, or enforcement of this Note, and
hereby consents to any extensions of time, renewals, releases of any party to
this Note, waivers, or modifications that may be granted or consented to by the
Holder in respect to the time of payment or any other provision of this Note. No
waiver of any payment or other right under this Note shall operate as a waiver
of any other payment or right.

     THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS
(EXCLUSIVE OF THE LAWS GOVERNING CONFLICTS OF LAWS) OF THE STATE OF COLORADO.

                                        /s/ Richard M. Sowar
                                        ---------------------------
                                        RICHARD M. SOWAR

                                       2

<Page>

                                    EXHIBIT C

October 18, 2001

Board of Directors
c/o Jim Bracking
PlanetCAD Inc.
2520 55th Street, Ste. 200
Boulder, CO 80301

To the Board of Directors of PlanetCAD Inc.:

     I hereby resign from the PlanetCAD Inc. Board of Directors, effective upon
your receipt of this letter.

                                        Sincerely,

                                        /s/ Richard M. Sowar

                                        Richard M. Sowar

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