Document:

EX-4.3

 

Exhibit 4.3

Execution Copy

$1,000,000,000

COMPUTER ASSOCIATES INTERNATIONAL, INC.

	 	 	 
	$500,000,000
	 	4.750% Senior Notes due 2009
	$500,000,000
	 	5.625% Senior Notes due 2014

REGISTRATION RIGHTS AGREEMENT

as of November 18, 2004

Banc of America Securities LLC

Citigroup Global Markets Inc.

J.P. Morgan Securities Inc.

Barclays Capital Inc.

BNP Paribas Securities Corp.

KeyBanc Capital Markets

Mitsubishi Securities International plc

Wachovia Capital Markets, LLC

ABN AMRO Incorporated

Scotia Capital (USA) Inc.

c/o Banc of America Securities LLC

Hearst Tower

214 North Tryon Street

Charlotte, North Carolina 28255

     and

Citigroup Global Markets Inc.

388 Greenwich Street

New York, New York 10013

     and

J.P. Morgan Securities Inc.

270 Park Avenue

New York, New York 10017

Ladies and Gentlemen:

     Computer Associates International, Inc., a Delaware corporation (the
“Company”), proposes to issue and sell to Banc of America Securities LLC,
Citigroup Global Markets Inc., J.P. Morgan Securities Inc., Barclays Capital
Inc., BNP Paribas Securities Corp., KeyBanc Capital Markets, Mitsubishi
Securities International plc, Wachovia Capital Markets, LLC, ABN AMRO
Incorporated and Scotia Capital (USA) Inc. (collectively, the “Initial
Purchasers”), upon the terms set forth in a purchase agreement dated November
15, 2004 (the “Purchase Agreement”), $500,000,000 principal amount of its
4.750% Senior Notes due 2009 (the “2009 Notes”) and $500,000,000 principal
amount of its 5.625% Senior Notes due 2014 (the “2014

 

 

Notes” and, together with the 2009 Notes, the “Initial Securities”). The
Initial Securities will be issued pursuant to an Indenture, dated as of
November 18, 2004 (the “Indenture”) between the Company and The Bank of New
York, as trustee (the “Trustee”). As an inducement to the Initial Purchasers,
the Company agrees with the Initial Purchasers, for the benefit of the holders
of the Initial Securities (including, without limitation, the Initial
Purchasers), the Exchange Securities (as defined below) and the Private
Exchange Securities (as defined below) (collectively the “Holders”), as
follows:

     1. Registered Exchange Offer. The Company shall, at its own cost, prepare
and, not later than 240 days after (or if the 240th day is not a business day,
the first business day thereafter) the date of original issue of the Initial
Securities (the “Issue Date”), file with the Securities and Exchange Commission
(the “Commission”) a registration statement (the “Exchange Offer Registration
Statement”) on an appropriate form under the Securities Act of 1933, as amended
(the “Securities Act”), with respect to a proposed offer (the “Registered
Exchange Offer”) to the Holders of Transfer Restricted Securities (as defined
in Section 6 hereof), who are not prohibited by any law or policy of the
Commission from participating in the Registered Exchange Offer, to issue and
deliver to such Holders, in exchange for the Initial Securities, a like
aggregate principal amount of debt securities (the “Exchange Securities”) of
the Company issued under the Indenture and identical in all material respects
to the Initial Securities (except for the transfer restrictions relating to the
Initial Securities and the provisions relating to the matters described in
Section 6 hereof) that would be registered under the Securities Act. The
Company shall use its best efforts to cause such Exchange Offer Registration
Statement to become effective under the Securities Act within 310 days (or if
the 310th day is not a business day, the first business day thereafter) after
the Issue Date of the Initial Securities and shall keep the Exchange Offer
Registration Statement effective for not less than 20 business days (or longer,
if required by applicable law) after the date notice of the Registered Exchange
Offer is mailed to the Holders (such period being called the “Exchange Offer
Registration Period”).

     If the Company effects the Registered Exchange Offer, the Company will be
entitled to close the Registered Exchange Offer 20 business days after the
commencement thereof, provided that the Company has accepted all the Initial
Securities theretofore validly tendered in accordance with the terms of the
Registered Exchange Offer.

     Following the declaration of the effectiveness of the Exchange Offer
Registration Statement, the Company shall promptly commence the Registered
Exchange Offer, it being the objective of such Registered Exchange Offer to
enable each Holder of Transfer Restricted Securities (as defined in Section 6
hereof) electing to exchange the Initial Securities for Exchange Securities
(assuming that such Holder is not an affiliate of the Company within the
meaning of the Securities Act, acquires the Exchange Securities in the ordinary
course of such Holder’s business and has no arrangements with any person to
participate in the distribution of the Exchange Securities and is not
prohibited by any law or policy of the Commission from participating in the
Registered Exchange Offer) to trade such Exchange Securities from and after
their receipt without any limitations or restrictions under the Securities Act
and without material restrictions under the securities laws of the several
states of the United States.

     The Company acknowledges that, pursuant to current interpretations by the
Commission’s staff of Section 5 of the Securities Act, in the absence of an
applicable exemption

 

 

therefrom, (i) each Holder which is a broker-dealer electing to exchange
Securities, acquired for its own account as a result of market making
activities or other trading activities, for Exchange Securities (an “Exchanging
Dealer”), is required to deliver a prospectus containing the information set
forth in (a) Annex A hereto on the cover, (b) Annex B hereto in the “Exchange
Offer Procedures” section (or equivalent section) and the “Purpose of the
Exchange Offer” section (or equivalent section) and (c) Annex C hereto in the
“Plan of Distribution” section (or equivalent section) of such prospectus in
connection with a sale of any such Exchange Securities received by such
Exchanging Dealer pursuant to the Registered Exchange Offer and (ii) an Initial
Purchaser that elects to sell Exchange Securities acquired in exchange for
Securities constituting any portion of an unsold allotment is required to
deliver a prospectus containing the information required by Items 507 or 508 of
Regulation S-K under the Securities Act, as applicable, in connection with such
sale.

     The Company shall use its best efforts to keep the Exchange Offer
Registration Statement effective and to amend and supplement the prospectus
contained therein, in order to permit such prospectus to be lawfully delivered
by all persons subject to the prospectus delivery requirements of the
Securities Act for such period of time as such persons must comply with such
requirements in order to resell the Exchange Securities; provided, however,
that (i) in the case where such prospectus and any amendment or supplement
thereto must be delivered by an Exchanging Dealer or an Initial Purchaser, such
period shall be the lesser of 180 days and the date on which all Exchanging
Dealers and the Initial Purchasers have sold all Exchange Securities held by
them (unless such period is extended pursuant to Section 3(j) below) and (ii)
the Company shall make such prospectus and any amendment or supplement thereto,
available to any broker-dealer for use in connection with any resale of any
Exchange Securities for a period of not less than 90 days after the
consummation of the Registered Exchange Offer.

     If, upon consummation of the Registered Exchange Offer, any Initial
Purchaser holds Initial Securities acquired by it as part of its initial
distribution, the Company, simultaneously with the delivery of the Exchange
Securities pursuant to the Registered Exchange Offer, shall issue and deliver
to such Initial Purchaser upon the written request of such Initial Purchaser,
in exchange (the “Private Exchange”) for the Initial Securities held by such
Initial Purchaser, a like principal amount of debt securities of the Company
issued under the Indenture and identical in all material respects (including
the existence of restrictions on transfer under the Securities Act and the
securities laws of the several states of the United States, but excluding
provisions relating to the matters described in Section 6 hereof) to the
Initial Securities (the “Private Exchange Securities”). The Initial
Securities, the Exchange Securities and the Private Exchange Securities are
herein collectively called the “Securities”.

     In connection with the Registered Exchange Offer, the Company shall:

     (a) mail to each Holder a copy of the prospectus forming part of the
Exchange Offer Registration Statement, together with an appropriate
letter of transmittal and related documents;

     (b) keep the Registered Exchange Offer open for not less than 20
business days (or longer, if required by applicable law) after the date
notice thereof is mailed to the Holders;

 

 

     (c) utilize the services of a depositary for the Registered Exchange
Offer with an address in the Borough of Manhattan, The City of New York,
which may be the Trustee or an affiliate of the Trustee;

     (d) permit Holders to withdraw tendered Securities at any time prior
to the close of business, New York time, on the last business day on
which the Registered Exchange Offer shall remain open; and

     (e) otherwise comply with all applicable laws.

     As soon as practicable after the close of the Registered Exchange Offer or
the Private Exchange, as the case may be, the Company shall:

     (x) accept for exchange all the Securities validly tendered and not
withdrawn pursuant to the Registered Exchange Offer and the Private
Exchange;

     (y) deliver to the Trustee for cancellation all the Initial
Securities so accepted for exchange; and

     (z) cause the Trustee to authenticate and deliver promptly to each
Holder of the Initial Securities, Exchange Securities or Private Exchange
Securities, as the case may be, equal in principal amount to the Initial
Securities of such Holder so accepted for exchange.

     The Indenture will provide that the Exchange Securities will not be
subject to the transfer restrictions set forth in the Indenture and that all
the Securities of each series will vote and consent together on all matters as
one class and that none of the Securities of a particular series will have the
right to vote or consent as a class separate from one another on any matter.

     Interest on each Exchange Security and Private Exchange Security issued
pursuant to the Registered Exchange Offer and in the Private Exchange will
accrue from the last interest payment date on which interest was paid on the
Initial Securities surrendered in exchange therefor or, if no interest has been
paid on the Initial Securities, from the date of original issue of the Initial
Securities.

     Each Holder participating in the Registered Exchange Offer shall be
required to represent to the Company that at the time of the consummation of
the Registered Exchange Offer (i) any Exchange Securities received by such
Holder will be acquired in the ordinary course of business, (ii) such Holder
will have no arrangements or understanding with any person to participate in
the distribution of the Securities or the Exchange Securities within the
meaning of the Securities Act, (iii) such Holder is not an “affiliate,” as
defined in Rule 405 of the Securities Act, of the Company or if it is an
affiliate, such Holder will comply with the registration and prospectus
delivery requirements of the Securities Act to the extent applicable, (iv) if
such Holder is not a broker-dealer, that it is not engaged in, and does not
intend to engage in, the distribution of the Exchange Securities and (v) if
such Holder is a broker-dealer, that it will receive Exchange Securities for
its own account in exchange for Initial Securities that were acquired as a
result of market-making activities or other trading activities and that it will
be required to acknowledge that it will deliver a prospectus in connection with
any resale of such Exchange Securities.

 

 

     Notwithstanding any other provisions hereof, the Company will ensure that
(i) any Exchange Offer Registration Statement and any amendment thereto and any
prospectus forming part thereof and any supplement thereto complies in all
material respects with the Securities Act and the rules and regulations
thereunder, (ii) any Exchange Offer Registration Statement and any amendment
thereto does not, when it becomes effective, contain an untrue statement of a
material fact or omit to state a material fact required to be stated therein or
necessary to make the statements therein not misleading and (iii) any
prospectus forming part of any Exchange Offer Registration Statement, and any
supplement to such prospectus, does not include an untrue statement of a
material fact or omit to state a material fact required to be stated therein or
necessary in order to make the statements therein, in the light of the
circumstances under which they were made, not misleading.

     2. Shelf Registration. If, (i) because of any change in law or in
applicable interpretations thereof by the staff of the Commission, the Company
is not permitted to effect a Registered Exchange Offer, as contemplated by
Section 1 hereof, (ii) the Registered Exchange Offer is not consummated within
340 days of the Issue Date (or, if not a business day, the first business day
thereafter), (iii) any Initial Purchaser so requests with respect to the
Initial Securities (or the Private Exchange Securities) not eligible to be
exchanged for Exchange Securities in the Registered Exchange Offer and held by
it following consummation of the Registered Exchange Offer or (iv) any Holder
(other than an Exchanging Dealer) is not eligible to participate in the
Registered Exchange Offer or, in the case of any Holder (other than an
Exchanging Dealer) that participates in the Registered Exchange Offer, such
Holder does not receive freely tradeable Exchange Securities on the date of the
exchange, the Company shall take the following actions:

     (a) The Company shall, at its cost, as promptly as practicable (but
in no event more than the later of (x) 60 days after so required or
requested pursuant to this Section 2 and (y) 240 days after the Issue
Date) file with the Commission and thereafter shall use its best efforts
to cause to be declared effective (no more than the later of (x) 120 days
after so required or requested pursuant to this Section 2 and (y) 310
days after the Issue Date) a registration statement (the “Shelf
Registration Statement” and, together with the Exchange Offer
Registration Statement, a “Registration Statement”) on an appropriate
form under the Securities Act relating to the offer and sale of the
Transfer Restricted Securities by the Holders thereof from time to time
in accordance with the methods of distribution set forth in the Shelf
Registration Statement and Rule 415 under the Securities Act
(hereinafter, the “Shelf Registration”); provided, however, that no
Holder (other than an Initial Purchaser) shall be entitled to have the
Securities held by it covered by such Shelf Registration Statement unless
such Holder agrees in writing to be bound by all the provisions of this
Agreement applicable to such Holder.

     (b) The Company shall use its best efforts to keep the Shelf
Registration Statement continuously effective in order to permit the
prospectus included therein to be lawfully delivered by the Holders of
the relevant Securities, for a period of two years (or for such longer
period if extended pursuant to Section 3(j) below) from the Issue Date or
such shorter period that will terminate when all the Securities covered
by the Shelf Registration Statement (i) have been sold pursuant thereto
or (ii) are no longer restricted securities (as defined in Rule 144 under
the Securities Act, or any successor rule thereof).

 

 

The Company shall be deemed not to have used its best efforts to
keep the Shelf Registration Statement effective during the requisite
period if it voluntarily takes any action that would result in Holders of
Securities covered thereby not being able to offer and sell such
Securities during that period, unless such action is required by
applicable law.

     (c) Notwithstanding any other provisions of this Agreement to the
contrary, the Company shall cause the Shelf Registration Statement and
the related prospectus and any amendment or supplement thereto, as of the
effective date of the Shelf Registration Statement, amendment or
supplement, (i) to comply in all material respects with the applicable
requirements of the Securities Act and the rules and regulations of the
Commission and (ii) not to contain any untrue statement of a material
fact or omit to state a material fact required to be stated therein or
necessary in order to make the statements therein, in light of the
circumstances under which they were made, not misleading.

     (d) Notwithstanding anything to the contrary set forth in this
Agreement, if the Company is required to file a Shelf Registration
Statement pursuant to this Section 2, the Company may postpone or suspend
the filing or effectiveness of such Shelf Registration Statement (or any
amendment or supplements thereto) (i) if such action is required by
applicable law or (ii) for up to an aggregate of 60 days (but for not
more than 30 consecutive days) during any consecutive 365 day period, if
such action is taken by the Company in good faith and for valid business
reasons (not including the avoidance of the Company’s obligations
hereunder), including the premature disclosure of material nonpublic
information which, if disclosed at such time, would be materially harmful
to the interests of the Company and its shareholders, so long as the
Company promptly thereafter complies with the requirements of this
Section 2. This Section 2(d) shall not affect the Company’s obligations,
if any, to pay Additional Interest pursuant to Section 6 of this
Agreement.

     3. Registration Procedures. In connection with any Shelf Registration
contemplated by Section 2 hereof and, to the extent applicable, any Registered
Exchange Offer contemplated by Section 1 hereof, the following provisions shall
apply:

     (a) The Company shall (i) furnish to each Initial Purchaser, prior
to the filing thereof with the Commission, a copy of the Registration
Statement and each amendment thereof and each supplement, if any, to the
prospectus included therein and, in the event that an Initial Purchaser
(with respect to any portion of an unsold allotment from the original
offering) is participating in the Registered Exchange Offer or the Shelf
Registration Statement, the Company shall use its reasonable efforts to
reflect in each such document, when so filed with the Commission, such
comments as such Initial Purchaser reasonably may propose; (ii) include
the information set forth in Annex A hereto on the cover, in Annex B
hereto in the “Exchange Offer Procedures” section and the “Purpose of the
Exchange Offer” section and in Annex C hereto in the “Plan of
Distribution” section of the prospectus forming a part of the Exchange
Offer Registration Statement and include the information set forth in
Annex D hereto in the Letter of Transmittal delivered pursuant to the
Registered Exchange Offer; (iii) if requested by an Initial Purchaser,
include the information required by Items 507 or 508 of Regulation S-K

 

 

under the Securities Act, as applicable, in the prospectus forming a
part of the Exchange Offer Registration Statement; (iv) include within
the prospectus contained in the Exchange Offer Registration Statement a
section entitled “Plan of Distribution,” reasonably acceptable to the
Initial Purchasers, which shall contain a summary statement of the
positions taken or policies made by the staff of the Commission with
respect to the potential “underwriter” status of any broker-dealer that
is the beneficial owner (as defined in Rule 13d-3 under the Securities
Exchange Act of 1934, as amended (the “Exchange Act”)) of Exchange
Securities received by such broker-dealer in the Registered Exchange
Offer (a “Participating Broker-Dealer”), whether such positions or
policies have been publicly disseminated by the staff of the Commission
or such positions or policies, in the reasonable judgment of the Initial
Purchasers based upon advice of counsel (which may be in-house counsel),
represent the prevailing views of the staff of the Commission; and (v) in
the case of a Shelf Registration Statement, include the names of the
Holders, who propose to sell Securities pursuant to the Shelf
Registration Statement, as selling securityholders.

     (b) The Company shall give written notice to the Initial Purchasers,
the Holders of the Securities and any Participating Broker-Dealer from
whom the Company has received prior written notice that it will be a
Participating Broker-Dealer in the Registered Exchange Offer (which
notice pursuant to clauses (ii) through (v) hereof shall be accompanied
by an instruction to suspend the use of the prospectus until the
requisite changes have been made):

     (i) when the Registration Statement or any amendment thereto
has been filed with the Commission and when the Registration
Statement or any post-effective amendment thereto has become
effective;

     (ii) of any request by the Commission for amendments or
supplements to the Registration Statement or the prospectus
included therein or for additional information;

     (iii) of the issuance by the Commission of any stop order
suspending the effectiveness of the Registration Statement or the
initiation of any proceedings for that purpose;

     (iv) of the receipt by the Company or its legal counsel of any
notification with respect to the suspension of the qualification of
the Securities for sale in any jurisdiction or the initiation or
threatening of any proceeding for such purpose; and

     (v) of the happening of any event that requires the Company to
make changes in the Registration Statement or the prospectus in
order that the Registration Statement or the prospectus does not
contain an untrue statement of a material fact nor omit to state a
material fact required to be stated therein or necessary to make
the statements therein (in the case of the prospectus, in light of
the circumstances under which they were made) not misleading.

 

 

     (c) The Company shall make every reasonable effort to obtain the
withdrawal at the earliest possible time, of any order suspending the
effectiveness of the Registration Statement.

     (d) The Company shall furnish to each Holder of Securities included
within the coverage of the Shelf Registration, without charge, at least
one copy of the Shelf Registration Statement and any post-effective
amendment thereto, including financial statements and schedules, and, if
the Holder so requests in writing, all exhibits thereto (including those,
if any, incorporated by reference).

     (e) The Company shall deliver to each Exchanging Dealer and each
Initial Purchaser, and to any other Holder who so requests, without
charge, at least one copy of the Exchange Offer Registration Statement
and any post-effective amendment thereto, including financial statements
and schedules, and, if any Initial Purchaser or any such Holder requests,
all exhibits thereto (including those incorporated by reference).

     (f) The Company shall, during the Shelf Registration Period, deliver
to each Holder of Securities included within the coverage of the Shelf
Registration, without charge, as many copies of the prospectus (including
each preliminary prospectus) included in the Shelf Registration Statement
and any amendment or supplement thereto as such person may reasonably
request. The Company consents, subject to the provisions of this
Agreement, to the use of the prospectus or any amendment or supplement
thereto by each of the selling Holders of the Securities in connection
with the offering and sale of the Securities covered by the prospectus,
or any amendment or supplement thereto, included in the Shelf
Registration Statement.

     (g) The Company shall deliver to each Initial Purchaser, any
Exchanging Dealer, any Participating Broker-Dealer and such other persons
required to deliver a prospectus following the Registered Exchange Offer,
without charge, as many copies of the final prospectus included in the
Exchange Offer Registration Statement and any amendment or supplement
thereto as such persons may reasonably request. The Company consents,
subject to the provisions of this Agreement, to the use of the prospectus
or any amendment or supplement thereto by any Initial Purchaser, if
necessary, any Participating Broker-Dealer and such other persons
required to deliver a prospectus following the Registered Exchange Offer
in connection with the offering and sale of the Exchange Securities
covered by the prospectus, or any amendment or supplement thereto,
included in such Exchange Offer Registration Statement.

     (h) Prior to any public offering of the Securities, pursuant to any
Registration Statement, the Company shall register or qualify or
cooperate with the Holders of the Securities included therein and their
respective counsel in connection with the registration or qualification
of the Securities for offer and sale under the securities or “blue sky”
laws of such states of the United States as any Holder of the Securities
reasonably requests in writing and do any and all other acts or things
necessary or advisable to enable the offer and sale in such jurisdictions
of the Securities covered by such Registration Statement; provided,
however, that the Company shall not be required to (i) qualify generally
to do business in any jurisdiction where it is not then so qualified

 

 

or (ii) take any action which would subject it to general service of
process or to taxation in any jurisdiction where it is not then so
subject.

     (i) The Company shall cooperate with the Holders of the Securities
to facilitate the timely preparation and delivery of certificates
representing the Securities to be sold pursuant to any Registration
Statement free of any restrictive legends and in such denominations and
registered in such names as the Holders may request a reasonable period
of time prior to sales of the Securities pursuant to such Registration
Statement.

     (j) Upon the occurrence of any event contemplated by paragraphs (ii)
through (v) of Section 3(b) above during the period for which the Company
is required to maintain an effective Registration Statement, the Company
shall promptly prepare and file a post-effective amendment to the
Registration Statement or a supplement to the related prospectus and any
other required document so that, as thereafter delivered to Holders of
the Securities or purchasers of Securities, the prospectus will not
contain an untrue statement of a material fact or omit to state any
material fact required to be stated therein or necessary to make the
statements therein, in light of the circumstances under which they were
made, not misleading. If the Company notifies the Initial Purchasers,
the Holders of the Securities and any known Participating Broker-Dealer
in accordance with paragraphs (ii) through (v) of Section 3(b) above to
suspend the use of the prospectus until the requisite changes to the
prospectus have been made, then the Initial Purchasers, the Holders of
the Securities and any such Participating Broker-Dealers shall suspend
use of such prospectus, and the period of effectiveness of the Shelf
Registration Statement provided for in Section 2(b) above and the
Exchange Offer Registration Statement provided for in Section 1 above
shall each be extended by the number of days from and including the date
of the giving of such notice to and including the date when the Initial
Purchasers, the Holders of the Securities and any known Participating
Broker-Dealer shall have received such amended or supplemented prospectus
pursuant to this Section 3(j).

     (k) Not later than the effective date of the applicable Registration
Statement, the Company will obtain CUSIP and ISIN numbers, and Common
Codes, if applicable, for the Initial Securities, the Exchange Securities
or the Private Exchange Securities, as the case may be, and provide the
applicable trustee with printed certificates for the Initial Securities,
the Exchange Securities or the Private Exchange Securities, as the case
may be, in a form eligible for deposit with The Depository Trust Company.

     (l) The Company will comply with all rules and regulations of the
Commission to the extent and so long as they are applicable to the
Registered Exchange Offer or the Shelf Registration and will make
generally available to its security holders (or otherwise provide in
accordance with Section 11(a) of the Securities Act) an earning statement
satisfying the provisions of Section 11(a) of the Securities Act, no
later than 45 days after the end of a 12-month period (or 90 days, if
such period is a fiscal year) beginning with the first month of the
Company’s first fiscal quarter commencing after the effective date of the
Registration Statement, which statement shall cover such 12-month period.

 

 

     (m) The Company shall cause the Indenture to be qualified under the
Trust Indenture Act of 1939, as amended (the “Trust Indenture Act”), in a
timely manner and containing such changes, if any, as shall be necessary
for such qualification. In the event that such qualification would
require the appointment of a new trustee under the Indenture, the Company
shall appoint a new trustee thereunder pursuant to the applicable
provisions of the Indenture.

     (n) The Company may require each Holder of Securities to be sold
pursuant to the Shelf Registration Statement to furnish to the Company
such information regarding the Holder and the distribution of the
Securities as the Company may from time to time reasonably require for
inclusion in the Shelf Registration Statement, and the Company may
exclude from such registration the Securities of any Holder that fails to
furnish such information within a reasonable time after receiving such
request.

     (o) The Company shall enter into such customary agreements
(including, if requested, an underwriting agreement in customary form)
and take all such other action, if any, as any Holder of the Securities
shall reasonably request in order to facilitate the disposition of the
Securities pursuant to any Shelf Registration.

     (p) In the case of any Shelf Registration, the Company shall
(subject to entering into customary confidentiality arrangements) (i)
make reasonably available for inspection by the Holders of the
Securities, any underwriter participating in any disposition pursuant to
the Shelf Registration Statement and any attorney, accountant or other
agent retained by the Holders of the Securities or any such underwriter
all relevant financial and other records, pertinent corporate documents
and properties of the Company and (ii) cause the Company’s officers,
directors, employees, accountants and auditors to supply all relevant
information reasonably requested by the Holders of the Securities or any
such underwriter, attorney, accountant or agent in connection with the
Shelf Registration Statement, in each case, as shall be reasonably
necessary to enable such persons, to conduct a reasonable investigation
within the meaning of Section 11 of the Securities Act; provided,
however, that the foregoing inspection and information gathering shall be
coordinated on behalf of the Initial Purchasers by you and on behalf of
the other parties, by one counsel designated by and on behalf of such
other parties as described in Section 4 hereof.

     (q) In the case of any Shelf Registration, the Company, if requested
by any Holder of Securities covered thereby, shall cause (i) its counsel
(which may be its in-house counsel) to deliver an opinion and updates
thereof relating to the Securities in customary form addressed to such
Holders and the managing underwriters, if any, thereof and dated, in the
case of the initial opinion, the effective date of such Shelf
Registration Statement (it being agreed that such opinion may contain
customary qualifications and assumptions and that the matters to be
covered by such opinion shall include, without limitation, the due
incorporation and good standing of the Company and its significant
subsidiaries; the qualification of the Company and its significant
subsidiaries to transact business as foreign corporations; the due
authorization, execution and delivery of the relevant agreement of the
type referred to in Section 3(o) hereof; the due authorization,
execution, authentication and issuance, and the validity and
enforceability, of the

 

 

applicable Securities; the absence of material legal or governmental
proceedings involving the Company and its subsidiaries; the absence of
governmental approvals required to be obtained in connection with the
Shelf Registration Statement, the offering and sale of the applicable
Securities, or any agreement of the type referred to in Section 3(o)
hereof; the compliance as to form of such Shelf Registration Statement
and any documents incorporated by reference therein and of the Indenture
with the requirements of the Securities Act and the Trust Indenture Act,
respectively; and, as of the date of the opinion and as of the effective
date of the Shelf Registration Statement or most recent post-effective
amendment thereto, as the case may be, the absence from such Shelf
Registration Statement and the prospectus included therein, as then
amended or supplemented, and from any documents incorporated by reference
therein of an untrue statement of a material fact or the omission to
state therein a material fact required to be stated therein or necessary
to make the statements therein not misleading (in the case of any such
documents, in the light of the circumstances existing at the time that
such documents were filed with the Commission under the Exchange Act);
(ii) its officers to execute and deliver all customary documents and
certificates and updates thereof requested by any underwriters of the
applicable Securities; and (iii) its independent public accountants to
provide to the selling Holders of the applicable Securities and any
underwriter therefor a comfort letter in customary form and covering
matters of the type customarily covered in comfort letters in connection
with primary underwritten offerings, subject to receipt of appropriate
documentation as contemplated, and only if permitted, by Statement of
Auditing Standards No. 72.

     (r) In the case of the Registered Exchange Offer, if requested by
any Initial Purchaser or any known Participating Broker-Dealer, the
Company shall cause (i) its counsel (which may be its in-house counsel)
to deliver to such Initial Purchaser or such Participating Broker-Dealer
a signed opinion in the form set forth in Section 6(c) of the Purchase
Agreement with such changes as are customary in connection with the
preparation of a Registration Statement and (ii) only if permitted by
Statement of Auditing Standards No. 72, its independent public
accountants to deliver to such Initial Purchaser or such Participating
Broker-Dealer a comfort letter, in customary form, meeting the
requirements as to the substance thereof as set forth in Section 6(a) of
the Purchase Agreement, with appropriate date changes.

     (s) If a Registered Exchange Offer or a Private Exchange is to be
consummated, upon delivery of the Initial Securities by Holders to the
Company (or to such other Person as directed by the Company) in exchange
for the Exchange Securities or the Private Exchange Securities, as the
case may be, the Company shall mark, or caused to be marked, on the
Initial Securities so exchanged that such Initial Securities are being
canceled in exchange for the Exchange Securities or the Private Exchange
Securities, as the case may be; in no event shall the Initial Securities
be marked as paid or otherwise satisfied.

     (t) The Company will use its reasonable efforts to (i) if the
Initial Securities have been rated prior to the initial sale of such
Initial Securities, confirm such ratings will apply to the Securities
covered by a Registration Statement, or (ii) if the Initial Securities
were not previously rated, cause the Securities covered by a Registration
Statement to be

 

 

rated with the appropriate rating agencies, if so requested by
Holders of a majority in aggregate principal amount of Securities covered
by such Registration Statement, or by the managing underwriters, if any.

     (u) In the event that any broker-dealer registered under the
Exchange Act shall underwrite any Securities or participate as a member
of an underwriting syndicate or selling group or “assist in the
distribution” (within the meaning of the Conduct Rules (the “Rules”) of
the National Association of Securities Dealers, Inc. (“NASD”)) thereof,
whether as a Holder of such Securities or as an underwriter, a placement
or sales agent or a broker or dealer in respect thereof, or otherwise,
the Company will assist such broker-dealer in complying with the
requirements of such Rules, including, without limitation, by (i) if such
Rules, including Rule 2720, shall so require, engaging a “qualified
independent underwriter” (as defined in Rule 2720) to participate in the
preparation of the Registration Statement relating to such Securities, to
exercise usual standards of due diligence in respect thereto and, if any
portion of the offering contemplated by such Registration Statement is an
underwritten offering or is made through a placement or sales agent, to
recommend the yield of such Securities, (ii) indemnifying any such
qualified independent underwriter to the extent of the indemnification of
underwriters provided in Section 5 hereof and (iii) providing such
information to such broker-dealer as may be required in order for such
broker-dealer to comply with the requirements of the Rules.

     (v) The Company shall use its best efforts to take all other steps
necessary to effect the registration of the Securities covered by a
Registration Statement contemplated hereby.

     4. Registration Expenses. The Company shall bear all fees and expenses
incurred in connection with the performance of its obligations under Sections 1
through 3 hereof (including the reasonable fees and expenses, if any, of
Simpson Thacher & Bartlett LLP, counsel for the Initial Purchasers, incurred in
connection with the Registered Exchange Offer), whether or not the Registered
Exchange Offer or a Shelf Registration is filed or becomes effective, and, in
the event of a Shelf Registration, shall bear or reimburse the Holders of the
Securities covered thereby for the reasonable fees and disbursements of one
firm of counsel designated by the Holders of a majority in principal amount of
the Initial Securities covered thereby to act as counsel for the Holders of the
Initial Securities in connection therewith.

     5. Indemnification. (a) The Company agrees to indemnify and hold
harmless each Holder of the Securities, any Participating Broker-Dealer and
each person, if any, who controls such Holder or such Participating
Broker-Dealer within the meaning of the Securities Act or the Exchange Act from
and against any losses, claims, damages or liabilities, joint or several, or
any actions in respect thereof (including, but not limited to, any losses,
claims, damages, liabilities or actions relating to purchases and sales of the
Securities) to which each indemnified party may become subject under the
Securities Act, the Exchange Act or otherwise, insofar as such losses, claims,
damages, liabilities or actions arise out of or are based upon any untrue
statement or alleged untrue statement of a material fact contained in a
Registration Statement or prospectus or in any amendment or supplement thereto
or in any preliminary prospectus relating to a Shelf Registration, or arise out
of, or are based upon, the omission or alleged omission to state therein

 

 

a material fact required to be stated therein or necessary to make the
statements therein not misleading, and shall reimburse, as incurred, the
indemnified parties for any legal or other expenses reasonably incurred by them
(including, without limitation, the fees and expenses of a single counsel (in
addition to any local counsel) to all indemnified parties collectively in
connection with any proceeding or related proceedings in the same jurisdiction)
in connection with investigating or defending any such loss, claim, damage,
liability or action in respect thereof; provided, however, that (i) the Company
shall not be liable in any such case to the extent that such loss, claim,
damage or liability arises out of or is based upon an untrue statement or
alleged untrue statement or omission or alleged omission made in a Registration
Statement or prospectus or in any amendment or supplement thereto or in any
preliminary prospectus relating to a Shelf Registration in reliance upon and in
conformity with written information pertaining to such Holder and furnished to
the Company by or on behalf of such Holder specifically for inclusion therein
and (ii) with respect to any untrue statement or omission or alleged untrue
statement or omission made in any preliminary prospectus relating to a Shelf
Registration Statement, the indemnity agreement contained in this subsection
(a) shall not inure to the benefit of any Holder or Participating Broker-Dealer
from whom the person asserting any such losses, claims, damages or liabilities
purchased the Securities concerned, to the extent that a prospectus relating to
such Securities was required to be delivered by such Holder or Participating
Broker-Dealer under the Securities Act in connection with such purchase and any
such loss, claim, damage or liability of such Holder or Participating
Broker-Dealer results from the fact that there was not sent or given to such
person, at or prior to the written confirmation of the sale of such Securities
to such person, a copy of the final prospectus if the Company had previously
furnished copies thereof to such Holder or Participating Broker-Dealer and any
such untrue statement or omission was corrected in such final prospectus;
provided further, however, that this indemnity agreement will be in addition to
any liability which the Company may otherwise have to such indemnified party.
The Company shall also indemnify underwriters, their officers and directors and
each person who controls such underwriters within the meaning of the Securities
Act or the Exchange Act to the same extent as provided above with respect to
the indemnification of the Holders of the Securities if requested by such
Holders.

     (b) Each Holder of the Securities, severally and not jointly, will
indemnify and hold harmless the Company and each person, if any, who controls
the Company within the meaning of the Securities Act or the Exchange Act from
and against any losses, claims, damages or liabilities or any actions in
respect thereof, to which the Company or any such controlling person may become
subject under the Securities Act, the Exchange Act or otherwise, insofar as
such losses, claims, damages, liabilities or actions arise out of or are based
upon any untrue statement or alleged untrue statement of a material fact
contained in a Registration Statement or prospectus or in any amendment or
supplement thereto or in any preliminary prospectus relating to a Shelf
Registration, or arise out of or are based upon the omission or alleged
omission to state therein a material fact necessary to make the statements
therein not misleading, but in each case only to the extent that the untrue
statement or omission or alleged untrue statement or omission was made in
reliance upon and in conformity with written information pertaining to such
Holder and furnished to the Company by or on behalf of such Holder specifically
for inclusion therein; and, subject to the limitation set forth immediately
preceding this clause, shall reimburse, as incurred, the Company for any legal
or other expenses reasonably incurred by the Company or any such controlling
person in connection with investigating or defending any such loss, claim,
damage,

 

 

liability or action in respect thereof. This indemnity agreement will be
in addition to any liability which such Holder may otherwise have to the
Company or any of its controlling persons.

     (c) Promptly after receipt by an indemnified party under this Section 5 of
notice of the commencement of any action or proceeding (including a
governmental investigation), such indemnified party will, if a claim in respect
thereof is to be made against the indemnifying party under this Section 5,
notify the indemnifying party in writing of the commencement thereof; but the
omission so to notify the indemnifying party will not, in any event, relieve
the indemnifying party from any obligations to any indemnified party other than
the indemnification obligation provided in paragraph (a) or (b) above, except
to the extent the indemnified party is prejudiced thereby. The indemnifying
party shall not be liable for any settlement of any proceeding without its
written consent (which shall not be unreasonably withheld or delayed). In case
any such action is brought against any indemnified party, and it notifies the
indemnifying party of the commencement thereof, the indemnifying party will be
entitled to participate therein and, to the extent that it may elect, jointly
with any other indemnifying party similarly notified, to assume the defense
thereof, with counsel reasonably satisfactory to such indemnified party (it
being understood that, except with the consent of the indemnified party, the
indemnifying party and the indemnified party shall have separate counsel), and
after notice from the indemnifying party to such indemnified party of its
election so to assume the defense thereof the indemnifying party will not be
liable to such indemnified party under this Section 5 for any legal or other
expenses, other than reasonable costs of investigation, subsequently incurred
by such indemnified party in connection with the defense thereof. No
indemnifying party shall, without the prior written consent of the indemnified
party (which consent shall not be unreasonably withheld or delayed), effect any
settlement of any pending or threatened action in respect of which any
indemnified party is or could have been a party and indemnity could have been
sought hereunder by such indemnified party unless such settlement includes an
unconditional release of such indemnified party from all liability on any
claims that are the subject matter of such action.

     (d) If the indemnification provided for in this Section 5 is unavailable
or insufficient to hold harmless an indemnified party under subsection (a) or
(b) above, then each indemnifying party shall contribute to the amount paid or
payable by such indemnified party as a result of the losses, claims, damages or
liabilities (or actions in respect thereof) referred to in subsection (a) or
(b) above (i) in such proportion as is appropriate to reflect the relative
benefits received by the indemnifying party or parties on the one hand and the
indemnified party on the other from the exchange of the Securities, pursuant to
the Registered Exchange Offer, or (ii) if the allocation provided by the
foregoing clause (i) is not permitted by applicable law, in such proportion as
is appropriate to reflect not only the relative benefits referred to in clause
(i) above but also the relative fault of the indemnifying party or parties on
the one hand and the indemnified party on the other in connection with the
statements or omissions that resulted in such losses, claims, damages or
liabilities (or actions in respect thereof) as well as any other relevant
equitable considerations. The relative fault of the parties shall be
determined by reference to, among other things, whether the untrue or alleged
untrue statement of a material fact or the omission or alleged omission to
state a material fact relates to information supplied by the Company on the one
hand or such Holder or such other indemnified party, as the case may be, on the
other, and the parties’ relative intent, knowledge, access to information and
opportunity to correct or prevent such untrue or alleged untrue statement or
omission. The amount paid by an indemnified party as a result of the losses,
claims, damages or liabilities referred to in the first sentence of this

 

 

subsection (d) shall be deemed to include any legal (including, without
limitation, the fees and expenses of a single counsel (in addition to any local
counsel) to all indemnified parties collectively in connection with any
proceeding or related proceedings in the same jurisdiction) or other expenses
reasonably incurred by such indemnified party in connection with investigating
or defending any action or claim which is the subject of this subsection (d).
Notwithstanding any other provision of this Section 5(d), the Holders of the
Securities shall not be required to contribute any amount in excess of the
amount by which the net proceeds received by such Holders from the sale of the
Securities pursuant to a Registration Statement exceeds the amount of damages
which such Holders have otherwise been required to pay by reason of such untrue
or alleged untrue statement or omission or alleged omission. No person guilty
of fraudulent misrepresentation (within the meaning of Section 11(f) of the
Securities Act) shall be entitled to contribution from any person who was not
guilty of such fraudulent misrepresentation. For purposes of this paragraph
(d), each person, if any, who controls such indemnified party within the
meaning of the Securities Act or the Exchange Act shall have the same rights to
contribution as such indemnified party and each person, if any, who controls
the Company within the meaning of the Securities Act or the Exchange Act shall
have the same rights to contribution as the Company.

     (d) The agreements contained in this Section 5 shall survive the sale of
the Securities pursuant to a Registration Statement and shall remain in full
force and effect, regardless of any termination or cancellation of this
Agreement or any investigation made by or on behalf of any indemnified party.

     6. Additional Interest Under Certain Circumstances. (a) Additional
interest (the “Additional Interest”) with respect to the Initial Securities
shall be assessed as follows if any of the following events occur (each such
event in clauses (i) through (iv) below a “Registration Default”):

     (i) If neither the Exchange Offer Registration Statement nor a
Shelf Registration Statement has been filed with the Commission on
or prior to July 18, 2005;

     (ii) If neither the Exchange Offer Registration Statement nor
a Shelf Registration Statement has been declared effective by the
Commission on or prior to September 26, 2005;

     (iii) If the Registered Exchange Offer has not been
consummated on or prior to October 24, 2005; or

     (iv) If after either the Exchange Offer Registration Statement
or the Shelf Registration Statement is declared effective (A) such
Registration Statement thereafter ceases to be effective during the
period specified herein; or (B) such Registration Statement or the
related prospectus ceases to be usable (except as permitted in
paragraph (b) below) in connection with resales of Transfer
Restricted Securities during the periods specified herein because
either (1) any event occurs as a result of which the related
prospectus forming part of such Registration Statement would
include any untrue statement of a material fact or

 

 

omit to state any material fact necessary to make the
statements therein in the light of the circumstances under which
they were made not misleading, or (2) it shall be necessary to
amend such Registration Statement or supplement the related
prospectus, to comply with the Securities Act or the Exchange Act
or the respective rules thereunder.

Additional Interest shall accrue on the Initial Securities over and above the
interest set forth in the title of the Securities at a rate of 0.25% per annum
for the first 90 days from and including the date on which any one or more of
such Registration Defaults shall occur to but excluding the date on which all
such Registration Defaults have been cured or, if any Registration Default has
not been cured at or before the end of such 90-day period, at a rate of 0.50%
per annum thereafter until all of such Registration Defaults have been cured;
provided that the aggregate amount of Additional Interest under this Section
6(a) may not exceed 0.50% per annum.

     (b) A Registration Default referred to in Section 6(a)(iv)(B) hereof shall
be deemed not to have occurred and be continuing in relation to a Shelf
Registration Statement or the related prospectus if (i) such Registration
Default has occurred solely as a result of (x) the filing of a post-effective
amendment to such Shelf Registration Statement to incorporate annual audited
financial information with respect to the Company where such post-effective
amendment is not yet effective and needs to be declared effective to permit
Holders to use the related prospectus or (y) other material events, with
respect to the Company that would need to be described in such Shelf
Registration Statement or the related prospectus and (ii) in the case of clause
(y), the Company is proceeding promptly and in good faith to amend or
supplement such Shelf Registration Statement and related prospectus to describe
such events; provided, however, that in any case if such Registration Default
occurs for a continuous period in excess of 30 days, Additional Interest shall
be payable in accordance with the above paragraph from the day such
Registration Default occurs until such Registration Default is cured.

     (c) Any amounts of Additional Interest due pursuant to clause (i), (ii),
(iii) or (subject to Section 6(b) above) (iv) of Section 6(a) above will be
payable in cash on the regular interest payment dates with respect to the
Initial Securities. The amount of Additional Interest will be determined by
multiplying the applicable Additional Interest rate by the principal amount of
the Initial Securities, multiplied by a fraction, the numerator of which is the
number of days such Additional Interest rate was applicable during such period
(determined on the basis of a 360-day year comprised of twelve 30-day months),
and the denominator of which is 360.

     (d) “Transfer Restricted Securities” means each Security until (i) the
date on which such Transfer Restricted Security has been exchanged by a person
other than a broker-dealer for a freely transferable Exchange Security in the
Registered Exchange Offer, (ii) following the exchange by a broker-dealer in
the Registered Exchange Offer of a Initial Security for an Exchange Note, the
date on which such Exchange Note is sold to a purchaser who receives from such
broker-dealer on or prior to the date of such sale a copy of the prospectus
contained in the Exchange Offer Registration Statement, (iii) the date on which
such Initial Security has been effectively registered under the Securities Act
and disposed of in accordance with the Shelf Registration Statement or (iv) the
date on which such Initial Security is distributed to the public pursuant to
Rule 144 under the Securities Act or is saleable pursuant to Rule 144(k) under
the Securities Act.

 

 

     7. Rules 144 and 144A. The Company shall use its reasonable efforts to
file the reports required to be filed by it under the Securities Act and the
Exchange Act in a timely manner and, if at any time the Company is not required
to file such reports, it will, upon the request of any Holder of Initial
Securities, make publicly available other information so long as necessary to
permit sales of their securities pursuant to Rules 144 and 144A. The Company
covenants that it will take such further action as any Holder of Initial
Securities may reasonably request, all to the extent required from time to time
to enable such Holder to sell Initial Securities without registration under the
Securities Act within the limitation of the exemptions provided by Rules 144
and 144A (including the requirements of Rule 144A(d)(4)). The Company will
provide a copy of this Agreement to prospective purchasers of Initial
Securities identified to the Company by the Initial Purchasers upon request.
Upon the request of any Holder of Initial Securities, the Company shall deliver
to such Holder a written statement as to whether it has complied with such
requirements. Notwithstanding the foregoing, nothing in this Section 7 shall be
deemed to require the Company to register any of its securities pursuant to the
Exchange Act.

     8. Underwritten Registrations. If any of the Transfer Restricted
Securities covered by any Shelf Registration are to be sold in an underwritten
offering, the investment banker or investment bankers and manager or managers
that will administer the offering (“Managing Underwriters”) will be selected by
the Holders of a majority in aggregate principal amount of such Transfer
Restricted Securities to be included in such offering, subject to the Company’s
approval, which shall not be unreasonably withheld.

     No person may participate in any underwritten registration hereunder
unless such person (i) agrees to sell such person’s Transfer Restricted
Securities on the basis reasonably provided in any underwriting arrangements
approved by the persons entitled hereunder to approve such arrangements and
(ii) completes and executes all questionnaires, powers of attorney,
indemnities, underwriting agreements and other documents reasonably required
under the terms of such underwriting arrangements.

     9. Miscellaneous.

     (a) Amendments and Waivers. The provisions of this Agreement may not be
amended, modified or supplemented, and waivers or consents to departures from
the provisions hereof may not be given, except by the Company and the written
consent of the Holders of a majority in principal amount of the Securities
affected by such amendment, modification, supplement, waiver or consents.

     (b) Notices. All notices and other communications provided for or
permitted hereunder shall be made in writing by hand delivery, first-class
mail, facsimile transmission, or air courier which guarantees overnight
delivery:

          (1) if to a Holder of the Securities, at the most current address given by
such Holder to the Company.

 

 

          (2) if to the Initial Purchasers:

Banc of America Securities LLC

Hearst Tower

214 North Tryon Street

Charlotte, NC 28255

Fax No.: (704) 388-9939

Attention: Jasper Watson

and

Citigroup Global Markets Inc.

388 Greenwich Street

New York, NY 10013

Fax No.: (212) 816-7912

Attention: General Counsel

and

J.P. Morgan Securities Inc.

270 Park Avenue

8th Floor

New York, NY 10017

Fax No.: (212) 834-6081

Attention: High Grade Syndicate Desk

     with a copy to:

Banc of America Securities LLC

40 West 57th Street

27th Floor

New York, NY 10019

Fax No.: (212) 313-4778

Attention: Lily Chang

and

Simpson Thacher & Bartlett LLP

425 Lexington Avenue

New York, NY 10017

Fax No.: (212) 455-2502

Attention: Risë B. Norman

 

 

          (3) if to the Company, at its address as follows:

One Computer Associates Plaza

Islandia, NY 11749

Fax No.: (631) 342-4873

Attention: Treasurer

     with a copy to:

Sullivan & Cromwell LLP

125 Broad Street

New York, NY 10004

Fax No.: (212) 558-4000

Attention: Robert Downes

     All such notices and communications shall be deemed to have been duly
given: at the time delivered by hand, if personally delivered; three business
days after being deposited in the mail, postage prepaid, if mailed; when
receipt is acknowledged by recipient’s facsimile machine operator, if sent by
facsimile transmission; and on the day delivered, if sent by overnight air
courier guaranteeing next day delivery.

     (c) No Inconsistent Agreements. The Company has not, as of the date
hereof, entered into, nor shall it, on or after the date hereof, enter into,
any agreement with respect to its securities that is inconsistent with the
rights granted to the Holders herein or otherwise conflicts with the provisions
hereof.

     (d) Successors and Assigns. This Agreement shall be binding upon the
Company and its successors and assigns.

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

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

     (g) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

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

     (i) Securities Held by the Company. Whenever the consent or approval of
Holders of a specified percentage of principal amount of Securities is required
hereunder, Securities held by the Company or its affiliates (other than
subsequent Holders of Securities if such subsequent

 

 

Holders are deemed to be affiliates solely by reason of their holdings of
such Securities) shall not be counted in determining whether such consent or
approval was given by the Holders of such required percentage.

 

 

     If the foregoing is in accordance with your understanding of our
agreement, please sign and return to the Company a counterpart hereof,
whereupon this instrument, along with all counterparts, will become a binding
agreement among the several Initial Purchasers and the Company in accordance
with its terms.

	 	 	 	 	 
	 	 	Very truly yours,
	 
	 	 	 	 
	 	 	Computer Associates International, Inc.
	 
	 	 	 	 
	

	 	By:	 	 
	

	 	 	 	
 
	

	 	 	 	Name:
	

	 	 	 	Title:

 

 

The foregoing Registration

Rights Agreement is hereby confirmed

and accepted as of the date first

above written.

Banc of America Securities LLC

Citigroup Global Markets Inc.

J.P. Morgan Securities Inc.

Barclays Capital Inc.

BNP Paribas Securities Corp.

KeyBanc Capital Markets

Mitsubishi Securities International plc

Wachovia Capital Markets, LLC

ABN AMRO Incorporated

Scotia Capital (USA) Inc.

by: Banc of America Securities LLC

	 	 	 
	By:
	 	 
	

	 	
 
	

	 	Name:
	

	 	Title:

by: Citigroup Global Markets Inc.

	 	 	 
	By:
	 	 
	

	 	
 
	

	 	Name:
	

	 	Title:

by: J.P. Morgan Securities Inc.

	 	 	 
	By:
	 	 
	

	 	
 
	

	 	Name:
	

	 	Title:

 

 

ANNEX A

     Each broker-dealer that receives Exchange Securities for its own account
pursuant to the Exchange Offer must acknowledge that it will deliver a
prospectus in connection with any resale of such Exchange Securities. The
Letter of Transmittal states that by so acknowledging and by delivering a
prospectus, a broker-dealer will not be deemed to admit that it is an
“underwriter” within the meaning of the Securities Act. This Prospectus, as it
may be amended or supplemented from time to time, may be used by a
broker-dealer in connection with resales of Exchange Securities received in
exchange for Initial Securities where such Initial Securities were acquired by
such broker-dealer as a result of market-making activities or other trading
activities. The Company has agreed that, for a period of 90 days after the
Expiration Date (as defined herein), it will make this Prospectus available to
any broker-dealer for use in connection with any such resale. See “Plan of
Distribution.”

 

 

ANNEX B

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

 

 

ANNEX C

PLAN OF DISTRIBUTION

     Each broker-dealer that receives Exchange Securities for its own account
pursuant to the Exchange Offer must acknowledge that it will deliver a
prospectus in connection with any resale of such Exchange Securities. This
Prospectus, as it may be amended or supplemented from time to time, may be used
by a broker-dealer in connection with resales of Exchange Securities received
in exchange for Initial Securities where such Initial Securities were acquired
as a result of market-making activities or other trading activities. The
Company has agreed that, for a period of 90 days after the Expiration Date, it
will make this prospectus, as amended or supplemented, available to any
broker-dealer for use in connection with any such resale. In addition, until
        , 200 , all dealers effecting transactions in the Exchange
Securities may be required to deliver a prospectus.

     The Company will not receive any proceeds from any sale of Exchange
Securities by broker-dealers. Exchange Securities received by broker-dealers
for their own account pursuant to the Exchange Offer may be sold from time to
time in one or more transactions in the over-the-counter market, in negotiated
transactions, through the writing of options on the Exchange Securities or a
combination of such methods of resale, at market prices prevailing at the time
of resale, at prices related to such prevailing market prices or negotiated
prices. Any such resale may be made directly to purchasers or to or through
brokers or dealers who may receive compensation in the form of commissions or
concessions from any such broker-dealer or the purchasers of any such Exchange
Securities. Any broker-dealer that resells Exchange Securities that were
received by it for its own account pursuant to the Exchange Offer and any
broker or dealer that participates in a distribution of such Exchange
Securities may be deemed to be an “underwriter” within the meaning of the
Securities Act and any profit on any such resale of Exchange Securities and any
commission or concessions received by any such persons may be deemed to be
underwriting compensation under the Securities Act. The Letter of Transmittal
states that, by acknowledging that it will deliver and by delivering a
prospectus, a broker-dealer will not be deemed to admit that it is an
“underwriter” within the meaning of the Securities Act.

     For a period of 180 days after the Expiration Date the Company will
promptly send additional copies of this Prospectus and any amendment or
supplement to this Prospectus to any broker-dealer that requests such documents
in the Letter of Transmittal. The Company has agreed to pay all expenses
incident to the Exchange Offer (including the expenses of one counsel for the
Holders of the Securities) other than commissions or concessions of any brokers
or dealers and will indemnify the Holders of the Securities (including any
broker-dealers) against certain liabilities, including liabilities under the
Securities Act.

 

 

ANNEX D

     o CHECK HERE IF YOU ARE A BROKER-DEALER AND WISH TO RECEIVE 10 ADDITIONAL
COPIES OF THE PROSPECTUS AND 10 COPIES OF ANY AMENDMENTS OR SUPPLEMENTS
THERETO.

	 	 	 
	Name:
	 	 
	

	 	
 
	Address:
	 	 
	

	 	
 
	

	 	
 

If the undersigned is not a broker-dealer, the undersigned represents that it
is not engaged in, and does not intend to engage in, a distribution of Exchange
Securities. If the undersigned is a broker-dealer that will receive Exchange
Securities for its own account in exchange for Initial Securities that were
acquired as a result of market-making activities or other trading activities,
it acknowledges that it will deliver a prospectus in connection with any resale
of such Exchange Securities; however, by so acknowledging and by delivering a
prospectus, the undersigned will not be deemed to admit that it is an
“underwriter” within the meaning of the Securities Act.<PAGE>

                                                                    EXHIBIT 4.2

                              OFFICERS' CERTIFICATE

                                       OF

                                   AMGEN INC.

Dated as of November 18, 2004

                  The undersigned officers of the Company certify, pursuant to
resolutions duly adopted by the Board of Directors of the Company at a meeting
duly held on October 5, 2004, and the unanimous written consent of the Offering
Committee of the Board of Directors, dated as of November 15, 2004
(collectively, the "RESOLUTIONS"), and in accordance with Sections 2.1, 2.2 and
2.3 of the Indenture, dated as of August 4, 2003 (the "INDENTURE"; capitalized
terms used herein and not otherwise defined shall have the meanings given to
them in the Indenture), between Amgen Inc., a Delaware corporation (the
"COMPANY"), and JPMorgan Chase Bank, N.A., as trustee, (the "TRUSTEE") the
following matters related to the issuance of the Company's 4.00% Senior Notes
due 2009 (the "2009 NOTES") and the Company's 4.85% Senior Notes due 2014 (the
"2014 NOTES"):

            1.    Attached hereto as Annex A is a true and correct copy of a
      specimen note (the "FORM OF 2009 NOTE") representing the 2009 Notes and
      attached hereto as Annex B is a true and correct copy of a specimen note
      (the "FORM OF 2014 NOTE") representing the 2014 Notes. The Form of 2009
      Note and the Form of 2014 Note are herein collectively referred to as the
      "FORMS OF NOTES." The Forms of Notes set forth certain of the terms
      required to be set forth in this Certificate pursuant to Section 2.2 of
      the Indenture, and said terms are incorporated herein by reference. The
      2009 Notes and the 2014 Notes are each a separate series of Securities
      under the Indenture and are referred to herein collectively as the
      "NOTES." The term "Notes" shall also include any exchange notes issued in
      exchange for the 2009 Notes and 2014 Notes, respectively, pursuant to the
      transactions contemplated by that certain Registration Rights Agreement,
      dated as of November 18, 2004 (the "REGISTRATION RIGHTS AGREEMENT"), by
      and among the Company and the initial purchasers named therein (the
      "EXCHANGE SECURITIES").

            2.    The title of the 2009 Notes shall be the "4.00% Senior Notes
      due 2009" and the title of the 2014 Notes shall be the "4.85% Senior Notes
      due 2014."

            3.    The 2009 Notes shall be issued at the initial offering price
      of 99.803% of the principal amount and the 2014 Notes shall be issued at
      the initial offering price of 99.984% of the principal amount.

            4.    The Company will initially issue $1.0 billion aggregate
      principal amount of 2009 Notes (except for 2009 Notes authenticated and
      delivered upon registration of transfer of, in exchange for, or in lieu
      of, other 2009 Notes pursuant to Sections 2.7, 2.8, 2.11, 3.6 or 9.6 of
      the Indenture) and the $1.0 billion aggregate principal amount of 2014
      Notes (except for 2014 Notes authenticated and delivered upon registration
      of transfer of, in exchange for, or in lieu of, other 2014 Notes pursuant
      to Sections 2.7, 2.8, 2.11, 3.6 or

<PAGE>

      9.6 of the Indenture). The Company may issue additional 2009 Notes and/or
      2014 Notes from time to time after the date hereof, and such Notes will be
      treated as part of the respective series of Notes for all purposes under
      the Indenture.

            5.    The Notes and the Exchange Securities shall be issued as
      Global Securities only and will be exchangeable for certificated notes
      ("CERTIFICATED NOTES") only if:

                  (a)   DTC (x) notifies the Company that it is unwilling or
                        unable to continue as depository for the Global
                        Securities or (y) at any time has ceased to be a
                        clearing agency registered under the Exchange Act and,
                        in either case, the Company fails to appoint a successor
                        depository registered as a clearing agency under the
                        Exchange Act within 90 days of such event;

                  (b)   the Company, at its option, notifies the Trustee in
                        writing to the effect that the Company elects to cause
                        the issuance of the Certificated Notes; or

                  (c)   there has occurred and is continuing an Event of Default
                        with respect to the Notes.

                  Certificated Notes delivered in exchange for any Global
      Security or beneficial interests in Global Securities will be registered
      in the names, and issued in any approved denominations, requested by or on
      behalf of the depository (in accordance with its customary procedures).

            6.    The Global Securities and the Certificated Notes will bear the
      following restrictive legend unless the legend is not required by
      applicable law, or as set forth in Item 7 below:

                  "THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
      1933, AS AMENDED (THE "SECURITIES ACT"), AND ACCORDINGLY, MAY NOT BE
      OFFERED OR SOLD WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR
      BENEFIT OF, U.S. PERSONS EXCEPT AS SET FORTH IN THE FOLLOWING SENTENCE. BY
      ITS ACQUISITION HEREOF, THE HOLDER (I) REPRESENTS THAT (A) IT IS A
      "QUALIFIED INSTITUTIONAL BUYER" (AS DEFINED IN RULE 144A UNDER THE
      SECURITIES ACT) OR (B) IT IS AN INSTITUTIONAL "ACCREDITED INVESTOR" (AS
      DEFINED IN RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE
      SECURITIES ACT) (AN "INSTITUTIONAL ACCREDITED INVESTOR") OR (C) IT IS NOT
      A U.S. PERSON AND IS ACQUIRING THIS NOTE IN AN OFFSHORE TRANSACTION (AS
      DEFINED IN REGULATION S UNDER THE SECURITIES ACT) IN COMPLIANCE WITH
      REGULATION S UNDER THE SECURITIES ACT, (2) AGREES THAT IT WILL NOT, WITHIN
      THE TIME PERIOD REFERRED TO IN RULE 144(k) UNDER THE SECURITIES ACT AS IN
      EFFECT ON THE DATE OF THE TRANSFER OF THIS NOTE, RESELL OR OTHERWISE

<PAGE>

      TRANSFER THIS NOTE EXCEPT (A) TO THE ISSUER OR ANY SUBSIDIARY THEREOF, (B)
      TO A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE
      SECURITIES ACT, (C) INSIDE THE UNITED STATES TO AN INSTITUTIONAL
      ACCREDITED INVESTOR THAT, PRIOR TO SUCH TRANSFER, FURNISHES TO THE TRUSTEE
      A SIGNED LETTER CONTAINING CERTAIN REPRESENTATIONS AND AGREEMENTS RELATING
      TO THE RESTRICTIONS ON TRANSFER OF THIS NOTE (THE FORM OF WHICH LETTER CAN
      BE OBTAINED FROM THE TRUSTEE) AND IF SUCH TRANSFER IS IN RESPECT OF AN
      AGGREGATE PRINCIPAL AMOUNT OF NOTES OF LESS THAN $100,000, AN OPINION OF
      COUNSEL ACCEPTABLE TO THE ISSUER THAT SUCH TRANSFER IS IN COMPLIANCE WITH
      THE SECURITIES ACT, (D) OUTSIDE THE UNITED STATES IN AN OFFSHORE
      TRANSACTION IN COMPLIANCE WITH RULE 904 UNDER THE SECURITIES ACT, (E)
      PURSUANT TO THE EXEMPTION FROM REGISTRATION PROVIDED UNDER THE SECURITIES
      ACT (IF AVAILABLE) OR (F) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT
      UNDER THE SECURITIES ACT AND IN EACH CASE IN ACCORDANCE WITH ANY
      APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES. PRIOR TO ANY
      TRANSFER, THE HOLDER OF THIS SECURITY AGREES THAT IT WILL DELIVER TO EACH
      PERSON TO WHOM THIS NOTE IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE
      EFFECT OF THIS LEGEND. IN CONNECTION WITH ANY TRANSFER OF THIS NOTE WITHIN
      THE TIME PERIOD REFERRED TO IN RULE 144(k) UNDER THE SECURITIES ACT AFTER
      THE ORIGINAL ISSUANCE OF THE NOTES, THE HOLDER MUST CHECK THE APPROPRIATE
      BOX SET FORTH ON THE REVERSE HEREOF RELATING TO THE MANNER OF SUCH
      TRANSFER AND SUBMIT THIS CERTIFICATE TO THE TRUSTEE. IF THE PROPOSED
      TRANSFEREE IS AN INSTITUTIONAL ACCREDITED INVESTOR OR A NON-U.S. PERSON,
      THE HOLDER MUST, PRIOR TO SUCH TRANSFER, FURNISH TO THE TRUSTEE AND THE
      COMPANY SUCH CERTIFICATIONS, LEGAL OPINIONS OR OTHER INFORMATION AS EITHER
      OF THEM MAY REASONABLY REQUIRE TO CONFIRM THAT SUCH TRANSFER IS BEING MADE
      PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE
      REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. AS USED HEREIN, THE TERMS
      "OFFSHORE TRANSACTION." "UNITED STATES" AND "U.S. PERSON" HAVE THE
      MEANINGS GIVEN TO THEM BY REGULATION S UNDER THE SECURITIES ACT. THE
      INDENTURE CONTAINS A PROVISION REQUIRING THE TRUSTEE TO REFUSE TO REGISTER
      ANY TRANSFER OF THIS NOTE IN VIOLATION OF THE FOREGOING RESTRICTION."

<PAGE>

            7.    In accordance with the terms of the Exchange Offer (as defined
in the Registration Rights Agreement), the Company will issue, and upon receipt
of a written order in accordance with Section 2.3 of the Indenture, the Trustee
will authenticate:

                  a.    One or more Global Securities in an aggregate principal
                        amount equal to the principal amount of the beneficial
                        interests in the Global Securities tendered into the
                        Exchange Offer pursuant to the terms of the Registration
                        Rights Agreement; and

                  b.    Certificated Notes in an aggregate principal amount
                        equal to the principal amount of the Certificated Notes
                        tendered into the Exchange Offer pursuant to the terms
                        of the Registration Rights Agreement.

            Such Global Securities and Certificated Notes shall will not contain
the restrictive legend set forth in Item 7 above. Concurrently with the issuance
of such Exchange Securities, the Company will instruct the Trustee to cause the
aggregate principal amount of the applicable Global Securities and Certificated
Notes to be reduced accordingly.

            8.    The Notes shall be denominated in Dollars and payments of
principal and interest shall be made in Dollars.

            9.    In addition to the covenants set forth in Article IV of the
Indenture, the following additional covenants shall apply to the 2009 Notes and
the 2014 Notes and shall be incorporated into the Indenture with respect to the
2009 Notes and the 2014 Notes, such additional covenants to be subject to
covenant defeasance pursuant to Section 8.4 of the Indenture:

            "Section 4.5 LIMITATION ON LIENS.

            (a)   The Company shall not, nor shall it permit any of its
Subsidiaries to, create or incur any Lien on any of their respective Properties,
whether now owned or hereafter acquired, or upon any income or profits
therefrom, in order to secure any Indebtedness of the Company, without
effectively providing that such series of Notes shall be equally and ratably
secured until such time as such Indebtedness is no longer secured by such Lien,
except:

                  (1)   Liens existing as of November 18, 2004 (the "CLOSING
DATE");

                  (2)   Liens granted after the Closing Date on any of the
Company or any of its Subsidiaries' Properties securing Indebtedness of the
Company created in favor of the Holders of the Notes;

                  (3)   Liens securing Indebtedness of the Company which are
incurred to extend, renew or refinance Indebtedness which is secured by Liens
permitted to be incurred under the Indenture; provided that those Liens do not
extend to or cover any of the Company or any of its Subsidiaries' Property other
than the Property securing the Indebtedness being refinanced and that the
principal amount of such Indebtedness does not exceed the principal amount of
the Indebtedness being refinanced;

<PAGE>

                  (4)   Liens created in substitution of or as replacements for
any Liens permitted by the preceding clauses (1) through (3) directly above,
provided that, based on a good faith determination of an Officer of the Company,
the Property encumbered under any such substitute or replacement Lien is
substantially similar in nature to the Property encumbered by the otherwise
permitted Lien which is being replaced; and

                  (5)   Permitted Liens.

            (b)   Notwithstanding the foregoing, the Company and any of its
Subsidiaries may, without securing either series of Notes, create or incur Liens
which would otherwise be subject to the restrictions set forth in the preceding
paragraph, if after giving effect thereto, Exempted Debt does not exceed the
greater of (x) 35% of Consolidated Net Worth calculated as of the date of the
creation or incurrence of the Lien or (y) 35% of Consolidated Net Worth
calculated as of the Closing Date.

            Section 4.6 LIMITATION ON SALE AND LEASE-BACK TRANSACTIONS.

            (a)   The Company shall not and shall not permit its Subsidiaries
to, enter into any sale and lease-back transaction for the sale and leasing back
of any Property, whether now owned or hereafter acquired, of the Company or any
Subsidiary of the Company, unless:

                  (1)   such transaction was entered into prior to the Closing
Date;

                  (2)   such transaction was for the sale and leasing back of
any Property by a Subsidiary of the Company to the Company;

                  (3)   such transaction involves a lease for less than three
years;

                  (4)   the Company would be entitled to incur Indebtedness
secured by a mortgage on the property to be leased in an amount equal to the
Attributable Liens with respect to such sale and lease-back transaction without
equally and ratably securing the Notes pursuant to Section 4.5; or

                  (5)   the Company applies an amount equal to the fair value of
the proceeds of the Property sold to the purchase of Property or to the
retirement of long-term Indebtedness of the Company or any of its Subsidiaries
within 120 days of the effective date of any such sale and lease-back
transaction. In lieu of applying such amount to such retirement, the Company
may, or may cause any of its Subsidiaries to, deliver debt securities to the
Trustee therefor for cancellation, such debt securities to be credited at the
cost thereof to the Company.

            (b)   Notwithstanding the foregoing, the Company and any of its
Subsidiaries may enter into any sale lease-back transaction which would
otherwise be subject to the foregoing restrictions if after giving effect
thereto and at the time of determination, Exempted Debt does not exceed the
greater of (a) 35% of Consolidated Net Worth calculated as of the closing date
of the sale-leaseback transaction or (b) 35% of Consolidated Net Worth
calculated as of the Closing Date.

<PAGE>

            10.   In addition to the definitions set forth in Article I of the
      Indenture, each of the Notes shall include the following additional
      definitions, which, in the event of a conflict with the definition of
      terms in the Indenture, shall control:

            As used in this section, the following terms have the meanings set
forth below.

            "Attributable Liens" means in connection with a sale and lease-back
transaction the lesser of:

            (1) the fair market value of the assets subject to such transaction;
and

            (2) the present value (discounted at a rate per annum equal to the
average interest borne by all outstanding debt securities issued under the
indenture (which may include debt securities in addition to the Notes)
determined on a weighted average basis and compounded semi-annually) of the
obligations of the lessee for rental payments during the term of the related
lease.

            "Capital Lease" means any Indebtedness represented by a lease
obligation of a Person incurred with respect to real property or equipment
acquired or leased by such Person and used in its business that is required to
be recorded as a capital lease in accordance with GAAP.

            "Consolidated Net Worth" means, as of any date of determination, the
Stockholders' Equity of the Company and its Consolidated Subsidiaries on that
date.

            "Consolidated Subsidiary" means, as of any date of determination and
with respect to any Person, any Subsidiary of that Person whose financial data
is, in accordance with GAAP, reflected in that Person's consolidated financial
statements.

            "Credit Agreement" means the Credit Agreement, dated as of July 16,
2004, by and among the company, Citicorp USA, Inc., Barclays Bank PLC and each
other financial institution party thereto, Citibank, N.A., as issuing bank,
Citicorp USA, Inc., as administrative agent, and Barclays Bank PLC, as
Syndication Agent, as such agreement may be amended (including any amendment,
restatement, refinancing and successors thereof), supplemented or otherwise
modified from time to time, including any increase in the principal amount of
the obligations thereunder.

            "Credit Facilities" means, one or more debt facilities (including,
without limitation, the Credit Agreement) or commercial paper facilities, in
each case, with banks or other institutional lenders providing for revolving
credit loans, term loans, receivables financing (including through the sale of
receivables to such lenders or to special purpose entities formed to borrow from
such lenders against such receivables) or letters of credit, in each case, as
amended, restated, modified, renewed, refunded, replaced (whether upon or after
termination or otherwise) or refinanced (including by means of sales of debt
securities to institutional investors) in whole or in part from time to time.

<PAGE>

            "Exempted Debt" means the sum of the following as of the date of
determination:

            (1) Indebtedness of the Company incurred after the Closing Date and
secured by Liens not permitted by Section 4.5(a) above; and

            (2) Attributable Liens of the Company and any of its Subsidiaries in
respect of sale and lease-back transactions entered into after the Closing Date
pursuant to Section 4.6(b) above.

            "Governmental Agency" means:

            (1) any foreign, federal, state, county or municipal government, or
political subdivision thereof;

            (2) any governmental or quasi-governmental agency, authority, board,
bureau, commission, department, instrumentality or public body;

            (3) any court or administrative tribunal;

            (4) with respect to any Person, any arbitration tribunal or other
nongovernmental authority to whose jurisdiction that Person has consented.

            "Hedging Obligations" means, with respect to any specified Person,
the obligations of such Person under:

            (1) interest rate swap agreements (whether from fixed to floating or
from floating to fixed), interest rate cap agreements and interest rate collar
agreements;

            (2) other agreements or arrangements designed to manage interest
rates or interest rate risk; and

            (3) other agreements or arrangements designed to protect such Person
against fluctuations in currency exchange rates or commodity prices.

            "Indebtedness" of any Person means, without duplication, any
indebtedness, whether or not contingent, in respect of borrowed money or
evidenced by bonds, notes, debentures or similar instruments or letters of
credit (or reimbursement agreements with respect thereto) or representing the
balance deferred and unpaid of the purchase price of any Property (including
pursuant to Capital Leases), except any such balance that constitutes an accrued
expense or trade payable, if and to the extent any of the foregoing indebtedness
would appear as a liability upon a balance sheet of such Person prepared on a
consolidated basis in accordance with GAAP (but does not include contingent
liabilities which appear only in a footnote to a balance sheet), and shall also
include, to the extent not otherwise included, the guaranty of items which would
be included within this definition.

            "Laws" means, collectively, all foreign, federal, state and local
statutes, treaties, rules, regulations, ordinances, codes and administrative or
controlling precedents of any Governmental Agency.

<PAGE>

            "Lien" means any lien, security interest, charge or encumbrance of
any kind (including any conditional sale or other title retention agreement, any
lease in the nature thereof, and any agreement to give any security interest).

            "Make-Whole Amount" means the excess of (1) the aggregate present
value, on the redemption date, of the principal being redeemed or paid and the
amount of interest (exclusive of interest accrued to the date of redemption or
accelerated payment) that would have been payable if such redemption or
accelerated payment had not been made, over (2) the aggregate principal amount
of the Notes being redeemed or paid. Net present value shall be determined by
discounting, on a semi-annual basis, such principal and interest at the
Reinvestment Rate (as defined below and as determined on the third business day
preceding the date such notice of redemption is given or declaration of
acceleration is made) from the respective dates on which such principal and
interest would have been payable if such redemption or accelerated payment had
not been made.

            "Permitted Liens" means:

            (1) Liens securing Indebtedness under Credit Facilities;

            (2) Liens on accounts receivable, merchandise inventory, equipment,
and patents, trademarks, trade names and other intangibles, securing
Indebtedness of the Company;

            (3) Liens on any assets of the Company, any of its Subsidiaries'
assets, or the assets of any joint venture to which the Company or any of its
Subsidiaries is a party, created solely to secure obligations incurred to
finance the refurbishment, improvement or construction of such asset, which
obligations are incurred no later than 24 months after completion of such
refurbishment, improvement or construction, and all renewals, extensions,
refinancings, replacements or refundings of such obligations;

            (4) (a) Liens given to secure the payment of the purchase price
incurred in connection with the acquisition (including acquisition through
merger or consolidation) of Property (including shares of stock), including
Capital Lease transactions in connection with any such acquisition, and (b)
Liens existing on Property at the time of acquisition thereof or at the time of
acquisition by the Company or one of its Subsidiaries of any Person then owning
such Property whether or not such existing Liens were given to secure the
payment of the purchase price of the Property to which they attach; provided
that, with respect to clause (a), the Liens shall be given within 24 months
after such acquisition and shall attach solely to the Property acquired or
purchased and any improvements then or thereafter placed thereon;

            (5) Liens in favor of customs and revenue authorities arising as a
matter of law to secure payment of customs duties in connection with the
importation of goods;

            (6) Liens upon specific items of inventory or other goods and
proceeds of any Person securing such Person's obligations in respect of bankers'
acceptances issued or created for the account of such Person to facilitate the
purchase, shipment or storage of such inventory or other goods;

<PAGE>

            (7) Liens securing reimbursement obligations with respect to letters
of credit that encumber documents and other Property relating to such letters of
credit and the products and proceeds thereof;

            (8) Liens on key-man life insurance policies granted to secure
Indebtedness of the Company against the cash surrender value thereof;

            (9) Liens encumbering customary initial deposits and margin deposits
and other Liens in the ordinary course of business, in each case securing
Hedging Obligations and forward contract, option, futures contracts, futures
options or similar agreements or arrangements designed to protect the Company or
any of its Subsidiaries from fluctuations in interest rates, currencies or the
price of commodities;

            (10) Liens arising out of conditional sale, title retention,
consignment or similar arrangements for the sale of goods entered into by
Company or any of its Subsidiaries in the ordinary course of business;

            (11) pre-existing Liens on assets acquired by the Company or any of
its Subsidiaries after the Closing Date of the offering of the Notes;

            (12) Liens in favor of the Company or in favor of any of its
Subsidiaries;

            (13) inchoate Liens incident to construction or maintenance of real
property, or Liens incident to construction or maintenance of real property, now
or hereafter filed of record for sums not yet delinquent or being contested in
good faith, if reserves or other appropriate provisions, if any, as shall be
required by GAAP shall have been made therefore;

            (14) statutory Liens arising in the ordinary course of business with
respect to obligations which are not delinquent or are being contested in good
faith, if reserves or other appropriate provisions, if any, as shall be required
by GAAP shall have been made therefore;

            (15) Liens consisting of pledges or deposits to secure obligations
under workers' compensation laws or similar legislation, including Liens of
judgments thereunder which are not currently dischargeable;

            (16) Liens consisting of pledges or deposits of Property to secure
performance in connection with operating leases made in the ordinary course of
business to which Company or any of its Subsidiaries is a party as lessee,
provided the aggregate value of all such pledges and deposits in connection with
any such lease does not at any time exceed 16-2/3% of the annual fixed rentals
payable under such lease;

            (17) Liens consisting of deposits of Property to secure statutory
obligations of the Company or statutory obligations of any of its Subsidiaries
in the ordinary course of its business;

            (18) Liens consisting of deposits of Property to secure (or in lieu
of) surety, appeal or customs bonds in proceedings to which Company or any of
its Subsidiaries is a party in the ordinary course of its business, but not in
excess of $25,000,000;

<PAGE>

            (19) purchase money Liens or purchase money security interests upon
or in any Property acquired or held by Company or any of its Subsidiaries in the
ordinary course of business to secure the purchase price of such Property or to
secure indebtedness incurred solely for the purpose of financing the acquisition
of such Property;

            (20) Liens on an asset created in connection with the acquisition,
construction or development of additions, extensions or improvements to such
asset which shall be financed by obligations described in Sections 142, 144(a)
or 144(c) of the Internal Revenue Code of 1986, as amended, or by obligations
entitled to substantially similar tax benefits under other legislation or
regulations in effect from time to time; and

            (21) Liens on Property subject to escrow or similar arrangements
established in connection with litigation settlements.

            "Property" means any property or asset, whether real, personal or
mixed, or tangible or intangible.

            "Reinvestment Rate" means for the 2009 Notes, 0.10% and for the 2014
Notes, means 0.15%, in each case plus the arithmetic mean of the yields under
the respective heading "Week Ending" published in the most recent Statistical
Release (as defined below) under the caption "Treasury Constant Maturities" for
the maturity (rounded to the nearest month) corresponding to the remaining life
to maturity, as of the payment date of the principal being redeemed or paid. If
no maturity exactly corresponds to such maturity, yields for the two published
maturities most closely corresponding to such maturity shall be calculated
pursuant to the immediately preceding sentence and the Reinvestment Rate shall
be interpolated or extrapolated from such yields on a straight-line basis,
rounding in each of such relevant periods to the nearest month. For the purpose
of calculating the Reinvestment Rate, the most recent Statistical Release
published prior to the date of determination of the Make-Whole Amount shall be
used.

            "Statistical Release" means the statistical release designated
"H.15(519)" or any successor publication which is published weekly by the
Federal Reserve System and which establishes yields on actively traded United
States government securities adjusted to constant maturities, or, if such
Statistical Release is not published at the time of any determination under the
indenture, then such other reasonably comparable index which shall be designated
by us.

            "Stockholders' Equity" means, as of any date of determination,
stockholders' equity as of that date determined in accordance with GAAP;
provided that there shall be excluded from Stockholders' Equity any amount
attributable to capital stock that is, directly or indirectly, required to be
redeemed or repurchased by the issuer thereof at a specified date or upon the
occurrence of specified events or at the election of the holder thereof.

<PAGE>

            11. The Depository for the Notes shall be The Depository Trust
Company ("DTC").

            12. Each of the undersigned is authorized to approve the form, terms
and conditions of the Notes.

            13. Attached hereto as Annex C are true and correct copies of the
Resolutions.

            14. Each of the undersigned has read the provisions of the
Indenture, including the covenants and conditions precedent, pertaining to the
issuance of the Notes.

            15. In connection with this Certificate, each of the undersigned has
examined the documents, corporate records and certificates and has made such
inquiries of the other officers of the Company, which he has deemed necessary to
enable him to express an informed opinion as to whether or not such comments and
conditions have been complied with.

            16. In the opinion of each of the undersigned, all of the conditions
and covenants related to the issuance of the Notes have been complied with.

<PAGE>

            IN WITNESS WHEREOF, the undersigned have executed this Officers'
Certificate as of the date first set forth above.

                                       By:    /s/ Richard D. Nanula
                                          -------------------------------------
                                          Name:  Richard D. Nanula
                                          Title: Executive Vice President and
                                                 Chief Financial Officer

                                       By:       Steven J. Schoch
                                          -------------------------------------
                                          Name:  Steven J. Schoch
                                          Title: Vice President, Finance and
                                                 Controller
<PAGE>

                                     Annex A Form of 4.00% Senior Notes due 2009

                                 [Face of Note]

                                                          CUSIP/CINS ___________

                           4.00% Senior Notes due 2009

No. ___                                                            $____________

                                   AMGEN INC.

promises to pay to CEDE & CO. or registered assigns,

the principal sum of _____________________ on November 18, 2009.

Interest Payment Dates: May 18 and November 18

Record Dates: 15th day prior to May 18 and November 18

Dated: November 18, 2004

                                              AMGEN INC.

                                              By: ______________________________
                                                  Name:
                                                  Title:

                                              By: ______________________________
                                                  Name:
                                                  Title:

This is one of the Notes referred to
in the within-mentioned Indenture:

JPMorgan Chase Bank, N.A.,
  as Trustee

By: ________________________________
          Authorized Officer

                                       1
<PAGE>

                                 [Back of Note]
                           4.00% SENIOR NOTES DUE 2009

[GLOBAL LEGEND]

      THIS  SECURITY  IS  A GLOBAL SECURITY WITHIN THE MEANING OF THE  INDENTURE
HEREINAFTER  REFERRED  TO  AND IS REGISTERED IN THE NAME OF THE DEPOSITORY OR  A
NOMINEE  OF  THE  DEPOSITORY.  THIS  SECURITY  IS  EXCHANGEABLE  FOR  SECURITIES
REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITORY OR ITS NOMINEE ONLY
IN  THE  LIMITED  CIRCUMSTANCES  DESCRIBED  IN  THE  INDENTURE,  AND MAY NOT  BE
TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITORY TO A NOMINEE OF THE  DEPOSITORY,
BY  A  NOMINEE  OF  THE  DEPOSITORY TO THE DEPOSITORY OR ANOTHER NOMINEE OF  THE
DEPOSITORY OR BY THE DEPOSITORY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITORY OR
A NOMINEE OF SUCH A SUCCESSOR DEPOSITORY.

[TRANSFER RESTRICTED LEGEND]

      THIS  NOTE  HAS  NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,  AS
AMENDED  (THE  "SECURITIES  ACT"),  AND ACCORDINGLY, MAY NOT BE OFFERED OR  SOLD
WITHIN  THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S.  PERSONS
EXCEPT  AS  SET FORTH IN THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF,  THE
HOLDER  (I)  REPRESENTS  THAT  (A)  IT IS A "QUALIFIED INSTITUTIONAL BUYER"  (AS
DEFINED  IN  RULE  144A UNDER THE SECURITIES ACT) OR (B) IT IS AN  INSTITUTIONAL
"ACCREDITED  INVESTOR"  (AS  DEFINED  IN  RULE  501(A)(1),  (2),  (3) OR (7)  OF
REGULATION D UNDER THE SECURITIES ACT) (AN "INSTITUTIONAL ACCREDITED  INVESTOR")
OR  (C)  IT  IS  NOT  A  U.S.  PERSON AND IS ACQUIRING THIS NOTE IN AN  OFFSHORE
TRANSACTION (AS DEFINED IN REGULATION S UNDER THE SECURITIES ACT) IN  COMPLIANCE
WITH REGULATION S UNDER THE SECURITIES ACT, (2) AGREES THAT IT WILL NOT,  WITHIN
THE TIME PERIOD REFERRED TO IN RULE 144(K) UNDER THE SECURITIES ACT AS IN EFFECT
ON THE DATE OF THE TRANSFER OF THIS NOTE, RESELL OR OTHERWISE TRANSFER THIS NOTE
EXCEPT  (A)  TO  THE  ISSUER  OR  ANY  SUBSIDIARY  THEREOF,  (B) TO A  QUALIFIED
INSTITUTIONAL  BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT,  (C)
INSIDE THE UNITED STATES TO AN INSTITUTIONAL ACCREDITED INVESTOR THAT, PRIOR  TO
SUCH  TRANSFER,  FURNISHES  TO  THE  TRUSTEE A SIGNED LETTER CONTAINING  CERTAIN
REPRESENTATIONS AND AGREEMENTS RELATING TO THE RESTRICTIONS ON TRANSFER OF  THIS
NOTE  (THE  FORM  OF WHICH LETTER CAN BE OBTAINED FROM THE TRUSTEE) AND IF  SUCH
TRANSFER  IS  IN RESPECT OF AN AGGREGATE PRINCIPAL AMOUNT OF NOTES OF LESS  THAN
$100,000,  AN OPINION OF COUNSEL ACCEPTABLE TO THE ISSUER THAT SUCH TRANSFER  IS
IN  COMPLIANCE  WITH  THE  SECURITIES  ACT, (D) OUTSIDE THE UNITED STATES IN  AN
OFFSHORE  TRANSACTION IN COMPLIANCE WITH RULE 904 UNDER THE SECURITIES ACT,  (E)
PURSUANT  TO  THE EXEMPTION FROM REGISTRATION PROVIDED UNDER THE SECURITIES  ACT
(IF AVAILABLE) OR (F) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER  THE
SECURITIES  ACT  AND  IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE  SECURITIES
LAWS  OF  ANY  STATE OF THE UNITED STATES. PRIOR TO ANY TRANSFER, THE HOLDER  OF
THIS  SECURITY  AGREES THAT IT WILL DELIVER TO EACH PERSON TO WHOM THIS NOTE  IS
TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS

                                       2
<PAGE>

LEGEND.  IN  CONNECTION  WITH  ANY TRANSFER OF THIS NOTE WITHIN THE TIME  PERIOD
REFERRED TO IN RULE 144(K) UNDER THE SECURITIES ACT AFTER THE ORIGINAL  ISSUANCE
OF THE NOTES, THE HOLDER MUST CHECK THE APPROPRIATE BOX SET FORTH ON THE REVERSE
HEREOF  RELATING  TO THE MANNER OF SUCH TRANSFER AND SUBMIT THIS CERTIFICATE  TO
THE TRUSTEE. IF THE PROPOSED TRANSFEREE IS AN INSTITUTIONAL ACCREDITED  INVESTOR
OR  A  NON-U.S. PERSON, THE HOLDER MUST, PRIOR TO SUCH TRANSFER, FURNISH TO  THE
TRUSTEE AND THE COMPANY SUCH CERTIFICATIONS, LEGAL OPINIONS OR OTHER INFORMATION
AS EITHER OF THEM MAY REASONABLY REQUIRE TO CONFIRM THAT SUCH TRANSFER IS  BEING
MADE  PURSUANT  TO  AN  EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO,  THE
REGISTRATION  REQUIREMENTS  OF  THE  SECURITIES  ACT. AS USED HEREIN, THE  TERMS
"OFFSHORE  TRANSACTION."  "UNITED  STATES"  AND "U.S. PERSON" HAVE THE  MEANINGS
GIVEN TO THEM BY REGULATION S UNDER THE SECURITIES ACT. THE INDENTURE CONTAINS A
PROVISION REQUIRING THE TRUSTEE TO REFUSE TO REGISTER ANY TRANSFER OF THIS  NOTE
IN VIOLATION OF THE FOREGOING RESTRICTION.

      Capitalized  terms  used herein have the meanings assigned to them in  the
Indenture referred to below unless otherwise indicated.

            (1)  INTEREST.  Amgen Inc., a Delaware corporation (the  "Company"),
      promises to pay interest on the principal amount of this Note at 4.00% per
      annum  from  November  18,  2004 until maturity and shall pay the  Special
      Interest  (as  defined  in  the  Registration  Rights Agreement), if  any,
      payable  pursuant  to  Section  4  of  the  Registration Rights  Agreement
      referred to below. The Company will pay interest and Special Interest,  if
      any,  semi-annually in arrears on May 18 and November 18 of each year,  or
      if any such day is not a Business Day, on the next succeeding Business Day
      (each, an "Interest Payment Date"). Interest on the Notes will accrue from
      the  most  recent date to which interest has been paid or, if no  interest
      has been paid, from the date of issuance; provided that the first Interest
      Payment  Date  shall be May 18, 2005; provided further that after May  18,
      2005,  if there is no existing Default in the payment of interest, and  if
      this  Note is authenticated between a record date referred to on the  face
      hereof  and  the  next  succeeding  Interest Payment Date, interest  shall
      accrue from such next succeeding Interest Payment Date.

            (2)  METHOD  OF PAYMENT. The Company will pay interest on the  Notes
      (except  defaulted interest) and Special Interest, if any, to the  Persons
      who  are  registered Holders of Notes at the close of business on the  day
      that  is  15  days  prior  to  the  next succeeding Interest Payment  Date
      (whether  or  not  such  day  is  a Business Day), even if such Notes  are
      canceled  after  such  record date and on or before such Interest  Payment
      Date, except as provided in Section 2.13 of the Indenture with respect  to
      defaulted  interest.  The Notes will be payable as to principal,  interest
      and  Special  Interest,  if  any,  at the office or agency of the  Company
      maintained  for  such  purpose  in the Borough of Manhattan, the City  and
      State  of  New  York (or, if the Company fails to maintain such office  or
      agency, at the corporate trust office of the trustee in New York, New York
      or  if the trustee does not maintain an office in New York, at the  office
      of a paying agent in New York), or, at the option of the Company,  payment
      of  interest and Special Interest, if any, may be made by check mailed  to
      the  Holders  at  their  addresses  set forth in the register of  Holders;
      provided that payment by wire transfer of immediately available funds will
      be  required  with  respect  to  principal  of  and  interest and  Special
      Interest,  if  any,  on,  all  Global  Securities and all other Notes  the
      Holders  of  which  will  have provided wire transfer instructions to  the
      Company  or the Paying Agent. Such payment will be in the currency of  the
      United States of America.

                                       3
<PAGE>

            (3)  PAYING  AGENT  AND  REGISTRAR. Initially, JPMorgan Chase  Bank,
      N.A.,  the  Trustee  under  the  Indenture,  will act as Paying Agent  and
      Registrar.  The  Company may change any Paying Agent or Registrar  without
      notice  to  any Holder. The Company or any of its Subsidiaries may act  in
      any such capacity.

            (4)  INDENTURE.  The terms of the Notes include those stated in  the
      Indenture  and  those  made  part  of  the  Indenture  by  the   Officers'
      Certificate  dated  November  18,  2004  delivered  pursuant thereto  (the
      "Officers'  Certificate")  and the TIA. The Notes are subject to all  such
      terms,  and  the  Holders are referred to the Indenture and the TIA for  a
      statement of them.

            (5) OPTIONAL REDEMPTION. At any time prior to maturity, the  Company
      will  have  the option to redeem all or a part of the Notes upon not  less
      than 30 nor more than 60 days' notice, at a redemption price equal to  the
      sum  of (1) 100% of the principal amount of any notes being redeemed  plus
      accrued  and  unpaid interest to, but not including, the redemption  date,
      and (2) the Make-Whole Amount. Unless the Company defaults in the  payment
      of  the  redemption  price, interest will cease to accrue on the Notes  or
      portions thereof called for redemption on the applicable redemption  date.

            (6)  MANDATORY  REDEMPTION.  The  Company  is  not required to  make
      mandatory  redemption or sinking fund payments with respect to the  Notes.

            (7)  NOTICE  OF  REDEMPTION. Notice of redemption will be mailed  at
      least 30 days but not more than 60 days before the redemption date to each
      Holder  whose  Notes are to be redeemed at its registered address,  except
      that  redemption  notices  may  be  mailed  more  than 60 days prior to  a
      redemption date if the notice is issued in connection with a defeasance of
      the  Notes  or  a  satisfaction  or  discharge of the Indenture. Notes  in
      denominations larger than $1,000 may be redeemed in part but only in whole
      multiples  of  $1,000, unless all of the Notes held by a Holder are to  be
      redeemed.

            (8) DEFEASANCE PRIOR TO MATURITY. The Indenture contains  provisions
      for defeasance of (i) the entire indebtedness of the Notes or (ii) certain
      covenants  and  Events of Default with respect to the Notes, in each  case
      upon compliance with certain conditions set forth therein.

            (9)   RESTRICTIVE   COVENANTS.  The  Indenture  and  the   Officers'
      Certificate   impose   certain  limitations  on  the  Company's  and   its
      Subsidiaries', including limitations on the Company's and its subsidiaries
      ability  to  create  or  incur  certain  Liens on any of their  respective
      properties  or  assets  and  to  enter  into  certain sale and  lease-back
      transactions  and  on  the  Company's  ability  to  engage  in mergers  or
      consolidations   or   the   conveyance,  transfer  or  lease  of  all   or
      substantially  all  of  its  properties and assets. These limitations  are
      subject  to  a  number  of  important  qualifications  and exceptions  and
      reference  is  made  to the Indenture and the Officers' Certificate for  a
      description thereof.

            (10) DENOMINATIONS, TRANSFER, EXCHANGE. The Notes are in  registered
      form without coupons in denominations of $1,000 and integral multiples  of
      $1,000. The transfer of Notes may be registered and Notes may be exchanged
      as provided in the Indenture. The Registrar and the Trustee may require  a
      Holder,  among  other  things,  to  furnish  appropriate endorsements  and
      transfer  documents and the Company may require a Holder to pay any  taxes
      and  fees required by law or permitted by the Indenture. The Company  need
      not  exchange  or  register the transfer of any Note or portion of a  Note
      selected  for  redemption,  except for the unredeemed portion of any  Note
      being  redeemed  in part. Also, the Company need not exchange or  register
      the transfer of

                                       4
<PAGE>

      any  Notes  for  a  period  of  15 days before a selection of Notes to  be
      redeemed or during the period between a record date and the  corresponding
      Interest Payment Date.

            (11)  PERSONS DEEMED OWNERS. The registered Holder of a Note may  be
      treated as its owner for all purposes.

            (12)   AMENDMENT,   SUPPLEMENT   AND  WAIVER.  Subject  to   certain
      exceptions, the Indenture or the Notes may be amended or supplemented with
      the  consent of the Holders of at least a majority in aggregate  principal
      amount  of  the  then outstanding Notes voting as a single class, and  any
      existing  Default or Event or Default or compliance with any provision  of
      the  Indenture or the Notes may be waived with the consent of the  Holders
      of a majority in aggregate principal amount of the then outstanding  Notes
      voting as a single class. Without the consent of any Holder of a Note, the
      Indenture  or  the  Notes  may  be  amended  or  supplemented to cure  any
      ambiguity, defect or inconsistency, to provide for uncertificated Notes in
      addition  to  or  in place of certificated Notes, to make any change  that
      would  not  adversely  affect the legal rights under the Indenture of  any
      such  Holder,  to  provide  for  the  issuance of any additional notes  as
      permitted by the Indenture, to appoint a successor trustee with respect to
      the  notes and to add to or change any of the provisions of the  Indenture
      necessary to provide for the administration of the trusts in the indenture
      by more than one trustee, or to comply with the requirements of the SEC in
      order  to effect or maintain the qualification of the Indenture under  the
      TIA.

            (13)  DEFAULTS AND REMEDIES. If an Event of Default shall occur  and
      be continuing, the principal of the Notes may be declared (or, in  certain
      cases, shall ipso facto become) due and payable in the manner and with the
      effect provided in the Indenture.

            (14) TRUSTEE DEALINGS WITH COMPANY. The Trustee under the Indenture,
      in  its individual or any other capacity, may deal with the Company or  an
      Affiliate of the Company with the same rights it would have if it were not
      Trustee.

            (15)  NO  RECOURSE AGAINST OTHERS. A director, officer, employee  or
      stockholder  of  the  Company  shall  not  have  any  liability  for   any
      obligations  of  the  Company under the Notes or the Indenture or for  any
      claim based on, in respect of, or by reason of, such obligations or  their
      creation.  Each  Holder  by accepting a Note waives and releases all  such
      liability.  The  waiver and release are part of the consideration for  the
      issuance of the Notes.

            (16) AUTHENTICATION. This Note will not be valid until authenticated
      by the manual signature of the Trustee or an authenticating agent.

            (17) ABBREVIATIONS. Customary abbreviations may be used in the  name
      of  a  Holder or an assignee, such as: TEN COM (= tenants in common),  TEN
      ENT  (= tenants by the entireties), JT TEN (= joint tenants with right  of
      survivorship  and  not  as  tenants  in  common), CUST (= Custodian),  and
      U/G/M/A (= Uniform Gifts to Minors Act).

            (18)  REGISTRATION  RIGHTS  OF  HOLDERS.  In addition to the  rights
      provided  to  Holders of Notes under the Indenture, Holders of  restricted
      Notes  will  have  all  the  rights  set forth in the Registration  Rights
      Agreement,  dated  as  of  November 18, 2004, between the Company and  the
      other  parties  named  on  the signature pages thereof (the  "Registration
      Rights Agreement").

            (19) CUSIP NUMBERS. Pursuant to a recommendation promulgated by  the
      Committee  on Uniform Security Identification Procedures, the Company  has
      caused  CUSIP numbers to be printed on the Notes, and the Trustee may  use
      CUSIP numbers in notices of redemption as a

                                       5
<PAGE>

      convenience  to  Holders. No representation is made as to the accuracy  of
      such numbers either as printed on the Notes or as contained in any  notice
      of redemption, and reliance may be placed only on the other identification
      numbers placed thereon.

            (20)  GOVERNING LAW. THE INTERNAL LAW OF THE STATE OF NEW YORK  WILL
      GOVERN AND BE USED TO CONSTRUE THE INDENTURE AND THIS NOTE WITHOUT  GIVING
      EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE
      APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.

      The  Company  will furnish to any Holder upon written request and  without
charge  a  copy  of  the  Indenture  and/or  the Registration Rights  Agreement.
Requests may be made to:

                                   Amgen Inc.
                             One Amgen Center Drive
                          Thousand Oaks, CA 91320-1799
                          Attention: Investor Relations

                                       6
<PAGE>

                                 ASSIGNMENT FORM

      To assign this Note, fill in the form below:

(I) or (we) assign and transfer this Note to: __________________________________
                                                (Insert assignee's legal name)

_______________________________________________________________________________
                  (Insert assignee's soc. sec. or tax I.D. no.)

_______________________________________________________________________________

_______________________________________________________________________________

_______________________________________________________________________________

_______________________________________________________________________________
              (Print or type assignee's name, address and zip code)

and irrevocably appoint ________________________________________________________
to transfer this Note on the books of the Company. The agent may substitute
another to act for him.

Date: _______________

                                    Your Signature: ___________________________
                                             (Sign exactly as your name appears
                                              on the face of this Note)

Signature Guarantee*: _________________________

* Participant in a recognized Signature Guarantee Medallion Program (or other
signature guarantor acceptable to the Trustee).

                                       7
<PAGE>

                                     Annex B Form of 4.85% Senior Notes due 2014

                                 [Face of Note]

                                                          CUSIP/CINS ___________

                           4.85% Senior Notes due 2014

No. ___                                                            $____________

                                   AMGEN INC.

promises to pay to CEDE & CO. or registered assigns,

the principal sum of _____________________ on November 18, 2014.

Interest Payment Dates: May 18 and November 18

Record Dates: 15th day prior to May 18 and November 18

Dated: November 18, 2004

                                               AMGEN INC.

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

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

This is one of the Notes referred to
in the within-mentioned Indenture:

JPMorgan Chase Bank, N.A.,
  as Trustee

By:
    -----------------------------
         Authorized Officer

                                       1
<PAGE>

                                 [Back of Note]
                           4.85% SENIOR NOTES DUE 2014

[GLOBAL LEGEND]

      THIS  SECURITY  IS  A GLOBAL SECURITY WITHIN THE MEANING OF THE  INDENTURE
HEREINAFTER  REFERRED  TO  AND IS REGISTERED IN THE NAME OF THE DEPOSITORY OR  A
NOMINEE  OF  THE  DEPOSITORY.  THIS  SECURITY  IS  EXCHANGEABLE  FOR  SECURITIES
REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITORY OR ITS NOMINEE ONLY
IN  THE  LIMITED  CIRCUMSTANCES  DESCRIBED  IN  THE  INDENTURE,  AND MAY NOT  BE
TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITORY TO A NOMINEE OF THE  DEPOSITORY,
BY  A  NOMINEE  OF  THE  DEPOSITORY TO THE DEPOSITORY OR ANOTHER NOMINEE OF  THE
DEPOSITORY OR BY THE DEPOSITORY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITORY OR
A NOMINEE OF SUCH A SUCCESSOR DEPOSITORY.

[TRANSFER RESTRICTED LEGEND]

      THIS  NOTE  HAS  NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,  AS
AMENDED  (THE  "SECURITIES  ACT"),  AND ACCORDINGLY, MAY NOT BE OFFERED OR  SOLD
WITHIN  THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S.  PERSONS
EXCEPT  AS  SET FORTH IN THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF,  THE
HOLDER  (I)  REPRESENTS  THAT  (A)  IT IS A "QUALIFIED INSTITUTIONAL BUYER"  (AS
DEFINED  IN  RULE  144A UNDER THE SECURITIES ACT) OR (B) IT IS AN  INSTITUTIONAL
"ACCREDITED  INVESTOR"  (AS  DEFINED  IN  RULE  501(A)(1),  (2),  (3) OR (7)  OF
REGULATION D UNDER THE SECURITIES ACT) (AN "INSTITUTIONAL ACCREDITED  INVESTOR")
OR  (C)  IT  IS  NOT  A  U.S.  PERSON AND IS ACQUIRING THIS NOTE IN AN  OFFSHORE
TRANSACTION (AS DEFINED IN REGULATION S UNDER THE SECURITIES ACT) IN  COMPLIANCE
WITH REGULATION S UNDER THE SECURITIES ACT, (2) AGREES THAT IT WILL NOT,  WITHIN
THE TIME PERIOD REFERRED TO IN RULE 144(K) UNDER THE SECURITIES ACT AS IN EFFECT
ON THE DATE OF THE TRANSFER OF THIS NOTE, RESELL OR OTHERWISE TRANSFER THIS NOTE
EXCEPT  (A)  TO  THE  ISSUER  OR  ANY  SUBSIDIARY  THEREOF,  (B) TO A  QUALIFIED
INSTITUTIONAL  BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT,  (C)
INSIDE THE UNITED STATES TO AN INSTITUTIONAL ACCREDITED INVESTOR THAT, PRIOR  TO
SUCH  TRANSFER,  FURNISHES  TO  THE  TRUSTEE A SIGNED LETTER CONTAINING  CERTAIN
REPRESENTATIONS AND AGREEMENTS RELATING TO THE RESTRICTIONS ON TRANSFER OF  THIS
NOTE  (THE  FORM  OF WHICH LETTER CAN BE OBTAINED FROM THE TRUSTEE) AND IF  SUCH
TRANSFER  IS  IN RESPECT OF AN AGGREGATE PRINCIPAL AMOUNT OF NOTES OF LESS  THAN
$100,000,  AN OPINION OF COUNSEL ACCEPTABLE TO THE ISSUER THAT SUCH TRANSFER  IS
IN  COMPLIANCE  WITH  THE  SECURITIES  ACT, (D) OUTSIDE THE UNITED STATES IN  AN
OFFSHORE  TRANSACTION IN COMPLIANCE WITH RULE 904 UNDER THE SECURITIES ACT,  (E)
PURSUANT  TO  THE EXEMPTION FROM REGISTRATION PROVIDED UNDER THE SECURITIES  ACT
(IF AVAILABLE) OR (F) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER  THE
SECURITIES  ACT  AND  IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE  SECURITIES
LAWS  OF  ANY  STATE OF THE UNITED STATES. PRIOR TO ANY TRANSFER, THE HOLDER  OF
THIS  SECURITY  AGREES THAT IT WILL DELIVER TO EACH PERSON TO WHOM THIS NOTE  IS
TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS

                                       2
<PAGE>

LEGEND.  IN  CONNECTION  WITH  ANY TRANSFER OF THIS NOTE WITHIN THE TIME  PERIOD
REFERRED TO IN RULE 144(K) UNDER THE SECURITIES ACT AFTER THE ORIGINAL  ISSUANCE
OF THE NOTES, THE HOLDER MUST CHECK THE APPROPRIATE BOX SET FORTH ON THE REVERSE
HEREOF  RELATING  TO THE MANNER OF SUCH TRANSFER AND SUBMIT THIS CERTIFICATE  TO
THE TRUSTEE. IF THE PROPOSED TRANSFEREE IS AN INSTITUTIONAL ACCREDITED  INVESTOR
OR  A  NON-U.S. PERSON, THE HOLDER MUST, PRIOR TO SUCH TRANSFER, FURNISH TO  THE
TRUSTEE AND THE COMPANY SUCH CERTIFICATIONS, LEGAL OPINIONS OR OTHER INFORMATION
AS EITHER OF THEM MAY REASONABLY REQUIRE TO CONFIRM THAT SUCH TRANSFER IS  BEING
MADE  PURSUANT  TO  AN  EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO,  THE
REGISTRATION  REQUIREMENTS  OF  THE  SECURITIES  ACT. AS USED HEREIN, THE  TERMS
"OFFSHORE  TRANSACTION."  "UNITED  STATES"  AND "U.S. PERSON" HAVE THE  MEANINGS
GIVEN TO THEM BY REGULATION S UNDER THE SECURITIES ACT. THE INDENTURE CONTAINS A
PROVISION REQUIRING THE TRUSTEE TO REFUSE TO REGISTER ANY TRANSFER OF THIS  NOTE
IN VIOLATION OF THE FOREGOING RESTRICTION.

      Capitalized  terms  used herein have the meanings assigned to them in  the
Indenture referred to below unless otherwise indicated.

            (1)  INTEREST.  Amgen Inc., a Delaware corporation (the  "Company"),
      promises to pay interest on the principal amount of this Note at 4.85% per
      annum  from  November  18,  2004 until maturity and shall pay the  Special
      Interest  (as  defined  in  the  Registration  Rights Agreement), if  any,
      payable  pursuant  to  Section  4  of  the  Registration Rights  Agreement
      referred to below. The Company will pay interest and Special Interest,  if
      any,  semi-annually in arrears on May 18 and November 18 of each year,  or
      if any such day is not a Business Day, on the next succeeding Business Day
      (each, an "Interest Payment Date"). Interest on the Notes will accrue from
      the  most  recent date to which interest has been paid or, if no  interest
      has been paid, from the date of issuance; provided that the first Interest
      Payment  Date  shall be May 18, 2005; provided further that after May  18,
      2005,  if there is no existing Default in the payment of interest, and  if
      this  Note is authenticated between a record date referred to on the  face
      hereof  and  the  next  succeeding  Interest Payment Date, interest  shall
      accrue from such next succeeding Interest Payment Date.

            (2)  METHOD  OF PAYMENT. The Company will pay interest on the  Notes
      (except  defaulted interest) and Special Interest, if any, to the  Persons
      who  are  registered Holders of Notes at the close of business on the  day
      that  is  15  days  prior  to  the  next succeeding Interest Payment  Date
      (whether  or  not  such  day  is  a Business Day), even if such Notes  are
      canceled  after  such  record date and on or before such Interest  Payment
      Date, except as provided in Section 2.13 of the Indenture with respect  to
      defaulted  interest.  The Notes will be payable as to principal,  interest
      and  Special  Interest,  if  any,  at the office or agency of the  Company
      maintained  for  such  purpose  in the Borough of Manhattan, the City  and
      State  of  New  York (or, if the Company fails to maintain such office  or
      agency, at the corporate trust office of the trustee in New York, New York
      or  if the trustee does not maintain an office in New York, at the  office
      of a paying agent in New York), or, at the option of the Company,  payment
      of  interest and Special Interest, if any, may be made by check mailed  to
      the  Holders  at  their  addresses  set forth in the register of  Holders;
      provided that payment by wire transfer of immediately available funds will
      be  required  with  respect  to  principal  of  and  interest and  Special
      Interest,  if  any,  on,  all  Global  Securities and all other Notes  the
      Holders  of  which  will  have provided wire transfer instructions to  the
      Company  or the Paying Agent. Such payment will be in the currency of  the
      United States of America.

                                       3
<PAGE>

            (3)  PAYING  AGENT  AND  REGISTRAR. Initially, JPMorgan Chase  Bank,
      N.A.,  the  Trustee  under  the  Indenture,  will act as Paying Agent  and
      Registrar.  The  Company may change any Paying Agent or Registrar  without
      notice  to  any Holder. The Company or any of its Subsidiaries may act  in
      any such capacity.

            (4)  INDENTURE.  The terms of the Notes include those stated in  the
      Indenture  and  those  made  part  of  the  Indenture  by  the   Officers'
      Certificate  dated  November  18,  2004  delivered  pursuant thereto  (the
      "Officers'  Certificate")  and the TIA. The Notes are subject to all  such
      terms,  and  the  Holders are referred to the Indenture and the TIA for  a
      statement of them.

            (5) OPTIONAL REDEMPTION. At any time prior to maturity, the  Company
      will  have  the option to redeem all or a part of the Notes upon not  less
      than 30 nor more than 60 days' notice, at a redemption price equal to  the
      sum  of (1) 100% of the principal amount of any notes being redeemed  plus
      accrued  and  unpaid interest to, but not including, the redemption  date,
      and (2) the Make-Whole Amount. Unless the Company defaults in the  payment
      of  the  redemption  price, interest will cease to accrue on the Notes  or
      portions thereof called for redemption on the applicable redemption  date.

            (6)  MANDATORY  REDEMPTION.  The  Company  is  not required to  make
      mandatory  redemption or sinking fund payments with respect to the  Notes.

            (7)  NOTICE  OF  REDEMPTION. Notice of redemption will be mailed  at
      least 30 days but not more than 60 days before the redemption date to each
      Holder  whose  Notes are to be redeemed at its registered address,  except
      that  redemption  notices  may  be  mailed  more  than 60 days prior to  a
      redemption date if the notice is issued in connection with a defeasance of
      the  Notes  or  a  satisfaction  or  discharge of the Indenture. Notes  in
      denominations larger than $1,000 may be redeemed in part but only in whole
      multiples  of  $1,000, unless all of the Notes held by a Holder are to  be
      redeemed.

            (8) DEFEASANCE PRIOR TO MATURITY. The Indenture contains  provisions
      for defeasance of (i) the entire indebtedness of the Notes or (ii) certain
      covenants  and  Events of Default with respect to the Notes, in each  case
      upon compliance with certain conditions set forth therein.

            (9)   RESTRICTIVE   COVENANTS.  The  Indenture  and  the   Officers'
      Certificate   impose   certain  limitations  on  the  Company's  and   its
      Subsidiaries', including limitations on the Company's and its subsidiaries
      ability  to  create  or  incur  certain  Liens on any of their  respective
      properties  or  assets  and  to  enter  into  certain sale and  lease-back
      transactions  and  on  the  Company's  ability  to  engage  in mergers  or
      consolidations   or   the   conveyance,  transfer  or  lease  of  all   or
      substantially  all  of  its  properties and assets. These limitations  are
      subject  to  a  number  of  important  qualifications  and exceptions  and
      reference  is  made  to the Indenture and the Officers' Certificate for  a
      description thereof.

            (10) DENOMINATIONS, TRANSFER, EXCHANGE. The Notes are in  registered
      form without coupons in denominations of $1,000 and integral multiples  of
      $1,000. The transfer of Notes may be registered and Notes may be exchanged
      as provided in the Indenture. The Registrar and the Trustee may require  a
      Holder,  among  other  things,  to  furnish  appropriate endorsements  and
      transfer  documents and the Company may require a Holder to pay any  taxes
      and  fees required by law or permitted by the Indenture. The Company  need
      not  exchange  or  register the transfer of any Note or portion of a  Note
      selected  for  redemption,  except for the unredeemed portion of any  Note
      being  redeemed  in part. Also, the Company need not exchange or  register
      the transfer of

                                       4
<PAGE>

      any  Notes  for  a  period  of  15 days before a selection of Notes to  be
      redeemed or during the period between a record date and the  corresponding
      Interest Payment Date.

            (11)  PERSONS DEEMED OWNERS. The registered Holder of a Note may  be
      treated as its owner for all purposes.

            (12)   AMENDMENT,   SUPPLEMENT   AND  WAIVER.  Subject  to   certain
      exceptions, the Indenture or the Notes may be amended or supplemented with
      the  consent of the Holders of at least a majority in aggregate  principal
      amount  of  the  then outstanding Notes voting as a single class, and  any
      existing  Default or Event or Default or compliance with any provision  of
      the  Indenture or the Notes may be waived with the consent of the  Holders
      of a majority in aggregate principal amount of the then outstanding  Notes
      voting as a single class. Without the consent of any Holder of a Note, the
      Indenture  or  the  Notes  may  be  amended  or  supplemented to cure  any
      ambiguity, defect or inconsistency, to provide for uncertificated Notes in
      addition  to  or  in place of certificated Notes, to make any change  that
      would  not  adversely  affect the legal rights under the Indenture of  any
      such  Holder,  to  provide  for  the  issuance of any additional notes  as
      permitted by the Indenture, to appoint a successor trustee with respect to
      the  notes and to add to or change any of the provisions of the  Indenture
      necessary to provide for the administration of the trusts in the indenture
      by more than one trustee, or to comply with the requirements of the SEC in
      order  to effect or maintain the qualification of the Indenture under  the
      TIA.

            (13)  DEFAULTS AND REMEDIES. If an Event of Default shall occur  and
      be continuing, the principal of the Notes may be declared (or, in  certain
      cases, shall ipso facto become) due and payable in the manner and with the
      effect provided in the Indenture.

            (14) TRUSTEE DEALINGS WITH COMPANY. The Trustee under the Indenture,
      in  its individual or any other capacity, may deal with the Company or  an
      Affiliate of the Company with the same rights it would have if it were not
      Trustee.

            (15)  NO  RECOURSE AGAINST OTHERS. A director, officer, employee  or
      stockholder  of  the  Company  shall  not  have  any  liability  for   any
      obligations  of  the  Company under the Notes or the Indenture or for  any
      claim based on, in respect of, or by reason of, such obligations or  their
      creation.  Each  Holder  by accepting a Note waives and releases all  such
      liability.  The  waiver and release are part of the consideration for  the
      issuance of the Notes.

            (16) AUTHENTICATION. This Note will not be valid until authenticated
      by the manual signature of the Trustee or an authenticating agent.

            (17) ABBREVIATIONS. Customary abbreviations may be used in the  name
      of  a  Holder or an assignee, such as: TEN COM (= tenants in common),  TEN
      ENT  (= tenants by the entireties), JT TEN (= joint tenants with right  of
      survivorship  and  not  as  tenants  in  common), CUST (= Custodian),  and
      U/G/M/A (= Uniform Gifts to Minors Act).

            (18)  REGISTRATION  RIGHTS  OF  HOLDERS.  In addition to the  rights
      provided  to  Holders of Notes under the Indenture, Holders of  restricted
      Notes  will  have  all  the  rights  set forth in the Registration  Rights
      Agreement,  dated  as  of  November 18, 2004, between the Company and  the
      other  parties  named  on  the signature pages thereof (the  "Registration
      Rights Agreement").

            (19) CUSIP NUMBERS. Pursuant to a recommendation promulgated by  the
      Committee  on Uniform Security Identification Procedures, the Company  has
      caused  CUSIP numbers to be printed on the Notes, and the Trustee may  use
      CUSIP numbers in notices of redemption as a

                                       5
<PAGE>

      convenience  to  Holders. No representation is made as to the accuracy  of
      such numbers either as printed on the Notes or as contained in any  notice
      of redemption, and reliance may be placed only on the other identification
      numbers placed thereon.

            (20)  GOVERNING LAW. THE INTERNAL LAW OF THE STATE OF NEW YORK  WILL
      GOVERN AND BE USED TO CONSTRUE THE INDENTURE AND THIS NOTE WITHOUT  GIVING
      EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE
      APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.

      The  Company  will furnish to any Holder upon written request and  without
charge  a  copy  of  the  Indenture  and/or  the Registration Rights  Agreement.
Requests may be made to:

                                   Amgen Inc.
                             One Amgen Center Drive
                          Thousand Oaks, CA 91320-1799
                          Attention: Investor Relations

                                       6
<PAGE>

                                 ASSIGNMENT FORM

      To assign this Note, fill in the form below:

(I) or (we) assign and transfer this Note to: _________________________________
                                               (Insert assignee's legal name)

_______________________________________________________________________________
                  (Insert assignee's soc. sec. or tax I.D. no.)

_______________________________________________________________________________

_______________________________________________________________________________

_______________________________________________________________________________

_______________________________________________________________________________
              (Print or type assignee's name, address and zip code)

and irrevocably appoint ________________________________________________________
to transfer this Note on the books of the Company. The agent may substitute
another to act for him.

Date:  _______________

                               Your Signature: ________________________________
                                          (Sign exactly as your name appears on
                                           the face of this Note)

Signature Guarantee*: _________________________

* Participant in a recognized Signature Guarantee Medallion Program (or other
signature guarantor acceptable to the Trustee).

                                       7

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