Document:

Supplemental Indenture No. 1, dated as of November 17, 2006

 Exhibit 4.02 
 USG CORPORATION 
 SUPPLEMENTAL INDENTURE NO. 1 
 6.30% Senior Notes due 2016 
 THIS SUPPLEMENTAL INDENTURE NO. 1, dated as of
November 17, 2006 (this “Supplemental Indenture”), between USG CORPORATION, a Delaware corporation (the “Company”), and WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association, as trustee (the
“Trustee”). 
 RECITALS OF THE COMPANY: 
 WHEREAS, the Company has heretofore executed and delivered to the Trustee an Indenture, dated as of November 1, 2006 (the “Indenture”), providing for the issuance from time to time of one or more Series
of Securities; 
 WHEREAS, Article Eight of the Indenture provides for various matters with respect to any Series of Securities issued under
the Indenture to be established in an indenture supplemental to the Indenture; 
 WHEREAS, Section 8.1(e) of the Indenture provides that
the Company and the Trustee may enter into an indenture supplemental to the Indenture to establish the form or terms of Securities of any Series as permitted by Sections 2.1 and 2.3 of the Indenture; and 
 WHEREAS, all the conditions and requirements necessary to make this Supplemental Indenture, when duly executed and delivered, a valid and binding
agreement in accordance with its terms and for the purposes herein expressed, have been performed and fulfilled. 
 NOW THEREFORE, THIS
SUPPLEMENTAL INDENTURE WITNESSETH: 
 For and in consideration of the premises and the issuance of the Series of Securities provided for
herein, the Company and the Trustee mutually covenant and agree for the equal and proportionate benefit of the respective Holders of the Securities of such Series as follows: 
 ARTICLE ONE 
 RELATION TO INDENTURE; DEFINITIONS; RULES OF CONSTRUCTION 
 SECTION 1.1 Relation to Indenture. This Supplemental Indenture constitutes an integral part of the Indenture. 
 SECTION 1.2 Definitions. For all purposes of this Supplemental Indenture, the following terms shall have the respective meanings set forth in this
Section. 
 “Additional Interest” shall have the meaning set forth in the form of the Securities included as Exhibit
A hereto. 

 “Definitive Security” means a certificated Initial Security or Exchange
Security (bearing the Restricted Securities Legend if the transfer of such Security is restricted by applicable law) that does not include the Global Securities Legend. 
 “Depositary” means The Depository Trust Company, its nominees and their respective successors. 
 “Exchange Securities” means the Securities of the Company issued in exchange for Initial Securities pursuant to the Indenture
and this Supplemental Indenture in connection with the Registered Exchange Offer. 
 “Global Securities Legend”
means the legend set forth under that caption in Exhibit A to this Supplemental Indenture. 
 “Initial Purchasers”
means Banc of America Securities LLC, Citigroup Global Markets Inc. and the other initial purchasers listed on Schedule I to the Purchase Agreement. 
 “Initial Securities” means the Securities offered and sold pursuant to the Purchase Agreement. 
 “Participant” means members of, or participants in, the Depositary. 
 “Private
Exchange” means an offer by the Company, pursuant to the Registration Agreement, to issue and deliver to certain purchasers, in exchange for the Initial Securities held by such purchasers as part of their initial distribution, a like aggregate
principal amount of Private Exchange Securities. 
 “Private Exchange Securities” means the Securities of the
Company issued in exchange for Initial Securities pursuant to the Indenture and this Supplemental Indenture in connection with the Private Exchange pursuant to the Registration Agreement. 
 “Purchase Agreement” means the Purchase Agreement dated November 14, 2006, among the Company and the Initial Purchasers.

 “QIB” means a “qualified institutional buyer” as defined in Rule 144A. 
 “Registered Exchange Offer” means the offer by the Company, pursuant to the Registration Agreement, to certain Holders of
Initial Securities, to issue and deliver to such Holders, in exchange for their Initial Securities, a like aggregate principal amount of Exchange Securities registered under the Securities Act. 
 “Registration Agreement” means the Registration Rights Agreement dated November 17, 2006, among the Company and the Initial
Purchasers. 
 “Restricted Securities Legend” means the legend set forth in Section 2.6(d)(i) herein.

  

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 “Rule 144A” means Rule 144A under the Securities Act. 
 “Securities Act” means the Securities Act of 1933, as amended. 
 “Securities” means the 6.30% Senior Notes due 2016. 
 “Securities Custodian” means the custodian with respect to a Global Security (as appointed by the Depositary) or any successor
person thereto, who will initially be the Trustee. 
 “Shelf Registration Statement” means a registration statement
filed by the Company in connection with the offer and sale of the Initial Securities or Private Exchange Securities pursuant to Section 3 of the Registration Agreement. 
 “Transfer Restricted Securities” means Definitive Securities and any other Securities that bear or are required to bear the
Restricted Securities Legend. 
 SECTION 1.3 Amendment to Section 1.1 of the Indenture. For the sole benefit of the Holders of
the Securities, Section 1.1 of the Indenture shall be amended by deleting the definition of “interest” and replacing such definition with the following definition: 
 “interest” includes Additional Interest. 
 SECTION 1.4 Rules of Construction. For all purposes of this Supplemental Indenture: 
 (a) capitalized
terms used herein without definition shall have the meanings specified in the Indenture; 
 (b) all references herein to Articles and
Sections, unless otherwise specified, refer to the corresponding Articles and Sections of this Supplemental Indenture; 
 (c) the terms
“herein”, “hereof’, “hereunder” and other words of similar import refer to this Supplemental Indenture; and 
 (d) in the event of a conflict with the definition of terms in the Indenture, the definitions in this Supplemental Indenture shall control. 
 ARTICLE TWO 
 THE SECURITIES 
 SECTION 2.1 Title of the Securities. There shall be a Series of Securities designated the 6.30% Senior Notes due 2016 (the “Securities”). 
 SECTION 2.2 Limitation on Aggregate Principal Amount. The Securities will be initially issued in an aggregate principal amount of $500,000,000; provided that the Company may from time to time, without giving
notice to or seeking the consent of the Holders of the Securities, issue securities having the same terms (other than the issue price, interest accrual date and, in some cases, the first interest payment date) and with the same CUSIP number as the
Securities and any additional securities having such similar terms, together with the applicable Securities, will constitute a single Series of Securities under the Indenture. 
  

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 SECTION 2.3 Form and Dating. 
 (a) General. The Securities and the Trustee’s certificate of authentication shall be substantially in the form of Exhibit A hereto. The
Securities may have notations, legends or endorsements required by law, stock exchange rule or usage. Each Security shall be dated the date of its authentication. The Securities shall be in denominations of $1,000 and integral multiples thereof.

 The terms and provisions contained in the Securities shall constitute, and are hereby expressly made, a part of this Supplemental
Indenture, and the Company and the Trustee, by their execution and delivery of this Supplemental Indenture, expressly agree to such terms and provisions and to be bound thereby. However, to the extent any provision of any Security conflicts with the
express provisions of this Supplemental Indenture, the provisions of this Supplemental Indenture shall govern and be controlling. 
 The
Initial Securities issued on the date hereof will be (i) offered and sold by the Company pursuant to the Purchase Agreement and (ii) resold initially only to QIBs in reliance on Rule 144A. Such Initial Securities may thereafter be
transferred to, among others, QIBs. 
 The Company hereby designates The Depository Trust Company as the initial Depositary for the Global
Securities. 
 (b) Global Securities. The Initial Securities shall be issued initially in the form of one or more permanent global
Securities in definitive, fully registered form (collectively, the “Global Security”) without interest coupons and bearing the Global Securities Legend and Restricted Securities Legend, which shall be deposited on behalf of the purchasers
of the Securities represented thereby with the Securities Custodian, and registered in the name of the Depositary or a nominee of the Depositary, duly executed by the Company and authenticated by the Trustee as provided in the Indenture. The
aggregate principal amount of the Global Securities may from time to time be increased or decreased by adjustments made on the records of the Trustee and the Depositary or its nominee as hereinafter provided. 
 (c) Book-Entry Provisions. This Section 2.3(c) shall apply only to a Global Security deposited with or on behalf of the Depositary. The
Company shall execute and the Trustee shall, in accordance with this Section 2.3(c) and pursuant to an order of the Company, authenticate and deliver initially one or more Global Securities that (a) shall be registered in the name of the
Depositary for such Global Security or Global Securities or the nominee of such Depositary and (b) shall be delivered by the Trustee to such Depositary or pursuant to such Depositary’s instructions or held by the Trustee as Securities
Custodian. 
 Participants shall have no rights under the Indenture with respect to any Global Security held on their behalf by the
Depositary or by the Trustee as Securities Custodian or under such Global Security, and the Depositary may be treated by the Company, the Trustee and any agent of the Company or the Trustee as the absolute owner of such Global Security for all
purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee or any agent of the Company or the Trustee 
  

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 from giving effect to any written certification, proxy or other authorization furnished by the Depositary or impair, as
between the Depositary and its Participants, the operation of customary practices of such Depositary governing the exercise of the rights of a holder of a beneficial interest in any Global Security. 
 (d) Definitive Securities. Except as provided in Section 2.7, owners of beneficial interests in Global Securities will not be entitled to
receive physical delivery of certificated Securities. 
 SECTION 2.6 Transfer and Exchange. 
 (a) Transfer and Exchange of Definitive Securities. When Definitive Securities are presented to the Registrar with a request: 
 (i) to register the transfer of such Definitive Securities; or 
 (ii) to exchange such Definitive Securities for an equal principal amount of Definitive Securities of other authorized denominations, the
Registrar shall register the transfer or make the exchange as requested if its reasonable requirements for such transaction are met; provided, however, that the Definitive Securities surrendered for transfer or exchange: 
 (A) shall be duly endorsed or accompanied by a written instrument of transfer in form reasonably satisfactory to the Company and the
Registrar, duly executed by the Holder thereof or his attorney duly authorized in writing; and 
 (B) are accompanied by the
following additional information and documents, as applicable: 
 (x) if such Definitive Securities are being delivered to
the Registrar by a Holder for registration in the name of such Holder, without transfer, a certification from such Holder to that effect (in the form set forth on the reverse side of the Initial Security); or 
 (y) if such Definitive Securities are being transferred to the Company, a certification to that effect (in the form set forth on the
reverse side of the Initial Security); or 
 (C) if such Definitive Securities are being transferred pursuant to an exemption
from registration in accordance with Rule 144 under the Securities Act or in reliance upon another exemption from the registration requirements of the Securities Act, (i) a certification to that effect (in the form set forth on the reverse side
of the Initial Security) and (ii) if the Company so requests, an opinion of counsel or other evidence reasonably satisfactory to it as to the compliance with the restrictions set forth in the legend set forth in Section 2.6(e)(i).

 (b) Restrictions on Transfer of a Definitive Security for a Beneficial Interest in a Global Security. A Definitive Security may not
be exchanged for a beneficial interest in a Global Security except upon satisfaction of the requirements set forth below. Upon receipt 
  

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 by the Trustee of a Definitive Security, duly endorsed or accompanied by a written instrument of transfer in form
reasonably satisfactory to the Company and the Registrar, together with: 
 (i) certification (in the form set forth on the
reverse side of the Initial Security) that such Definitive Security is being transferred to a QIB in accordance with Rule 144A; and 
 (ii) written instructions directing the Trustee to make, or to direct the Securities Custodian to make, an adjustment on its books and records with respect to such Global Security to reflect an increase in the aggregate principal amount of
the Securities represented by the Global Security, such instructions to contain information regarding the Depositary account to be credited with such increase, then the Trustee shall cancel such Definitive Security and cause, or direct the
Securities Custodian to cause, in accordance with the standing instructions and procedures existing between the Depositary and the Securities Custodian, the aggregate principal amount of Securities represented by the Global Security to be increased
by the aggregate principal amount of the Definitive Security to be exchanged and shall credit or cause to be credited to the account of the Person specified in such instructions a beneficial interest in the Global Security equal to the principal
amount of the Definitive Security so canceled. If no Global Securities are then outstanding and the Global Security has not been previously exchanged for certificated securities pursuant to Section 2.7, the Company shall issue and the Trustee
shall authenticate, upon written order of the Company in the form of an Officers’ Certificate, a new Global Security in the appropriate principal amount. 
 (c) Transfer and Exchange of Global Securities. 
 (i) The transfer and exchange of
Global Securities or beneficial interests therein shall be effected through the Depositary, in accordance with this Supplemental Indenture (including applicable restrictions on transfer set forth herein, if any) and the procedures of the Depositary
therefor. A transferor of a beneficial interest in a Global Security shall deliver a written order given in accordance with the Depositary’s procedures containing information regarding the participant account of the Depositary to be credited
with a beneficial interest in such Global Security or another Global Security and such account shall be credited in accordance with such order with a beneficial interest in the applicable Global Security and the account of the Person making the
transfer shall be debited by an amount equal to the beneficial interest in the Global Security being transferred. 
 (ii)
Notwithstanding any other provisions of this Supplemental Indenture (other than the provisions set forth in Section 2.7), a Global Security may not be transferred as a whole except by the Depositary to a nominee of the Depositary or by a
nominee of the Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary. 
  

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 (iii) In the event that a Global Security is exchanged for Definitive Securities pursuant
to Section 2.7 prior to the consummation of the Registered Exchange Offer or the effectiveness of the Shelf Registration Statement with respect to such Securities, such Securities may be exchanged only in accordance with such procedures as are
substantially consistent with the provisions of this Section 2.6 (including the certification requirements set forth on the reverse of the Initial Securities intended to ensure that such transfers comply with Rule 144A or such other applicable
exemption from registration under the Securities Act, as the case may be) and such other procedures as may from time to time be adopted by the Company. 
 (d) Legends for Securities 
 (i) Except as permitted by the following paragraphs (ii),
(iii), (iv) or (vi), each Security certificate evidencing the Global Securities and the Definitive Securities (and all Securities issued in exchange therefor or in substitution thereof) shall bear a legend in substantially the following form
(each defined term in the legend being defined as such for purposes of the legend only): 
 THE NOTES HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE OR OTHER SECURITIES LAWS. NEITHER THIS NOTE NOR ANY INTEREST HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE
ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. BY ITS ACQUISITION HEREOF, THE HOLDER (1) REPRESENTS THAT IT IS A “QUALIFIED INSTITUTIONAL
BUYER” (AS DEFINED IN RULE 144A (“RULE 144A”) UNDER THE SECURITIES ACT), (2) AGREES NOT TO OFFER, SELL OR OTHERWISE TRANSFER THIS NOTE PRIOR TO (X) THE DATE WHICH IS TWO YEARS (OR SUCH SHORTER PERIOD OF TIME AS PERMITTED BY
RULE 144(k) OF THE SECURITIES ACT) AFTER THE LATER OF THE ORIGINAL ISSUE DATE OF THE NOTES AND THE LAST DATE ON WHICH USG CORPORATION OR ANY “AFFILIATE” (AS DEFINED IN RULE 144 UNDER THE SECURITIES ACT) OF USG CORPORATION WAS THE OWNER OF
THIS NOTE (OR ANY PREDECESSOR OF THIS NOTE) OR (Y) SUCH LATER DATE, IF ANY, AS MAY BE REQUIRED BY APPLICABLE LAW (THE “RESALE RESTRICTION TERMINATION DATE”) EXCEPT (A) TO USG CORPORATION, (B) PURSUANT TO A REGISTRATION
STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE NOTES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A, TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN
RULE 144A THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER, IN EACH CASE TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE 
  

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 ON RULE 144A OR (D) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF
THE SECURITIES ACT, SUBJECT IN EACH OF THE FOREGOING CASES TO ANY REQUIREMENT OF LAW THAT THE DISPOSITION OF ITS PROPERTY OR THE PROPERTY OF SUCH INVESTOR ACCOUNT OR ACCOUNTS BE AT ALL TIMES WITHIN ITS OR THEIR CONTROL, AND (3) AGREES THAT IT
WILL GIVE TO EACH PERSON TO WHOM THIS NOTE IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND; PROVIDED THAT USG CORPORATION AND THE TRUSTEE SHALL HAVE THE RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER (I) PURSUANT TO CLAUSE
(D) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM, AND (II) IN EACH OF THE FOREGOING CASES, BUT ONLY IF THIS NOTE IS NOT A GLOBAL SECURITY (AS DEFINED IN THE INDENTURE
REFERRED TO HEREIN), TO REQUIRE THAT A CERTIFICATE OF TRANSFER IN THE FORM APPEARING ON THE OTHER SIDE OF THIS NOTE IS COMPLETED AND DELIVERED BY THE TRANSFEROR TO USG CORPORATION AND THE TRUSTEE. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE
HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE. 
 Each Security evidencing a Global Security offered and sold to QIBs pursuant to Rule
144A shall bear a legend in substantially the following form 
 EACH PURCHASER OF THIS SECURITY IS HEREBY NOTIFIED THAT THE SELLER OF THIS
SECURITY MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT PROVIDED BY RULE 144A THEREUNDER. 
 Each
Definitive Security shall bear the following additional legend: 
 IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE REGISTRAR
AND TRANSFER AGENT SUCH CERTIFICATES AND OTHER INFORMATION AS SUCH TRANSFER AGENT MAY REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS. 
 (ii) Upon any sale or transfer of a Transfer Restricted Security that is a Definitive Security, the Registrar shall permit the Holder
thereof to exchange such Transfer Restricted Security for a Definitive Security that does not bear the legends set forth above and rescind any restriction on the transfer of such Transfer Restricted Security if the Holder certifies in writing to the
Registrar that its request for such exchange was made in reliance on Rule 144 (such certification to be in the form set forth on the reverse of the Initial Security). 
  

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 (iii) After a transfer of any Initial Securities or Private Exchange Securities during
the period of the effectiveness of a Shelf Registration Statement with respect to such Initial Securities or Private Exchange Securities, as the case may be, all requirements pertaining to the Restricted Securities Legend on such Initial Securities
or such Private Exchange Securities shall cease to apply and the requirements that any such Initial Securities or such Private Exchange Securities be issued in global form shall continue to apply. 
 (iv) Upon the consummation of a Registered Exchange Offer with respect to the Initial Securities pursuant to which Holders of such Initial
Securities are offered Exchange Securities in exchange for their Initial Securities, all requirements pertaining to Initial Securities that Initial Securities be issued in global form shall continue to apply, and Exchange Securities in global form
without the Restricted Securities Legend shall be available to Holders that exchange such Initial Securities in such Registered Exchange Offer. 
 (v) Upon the consummation of a Private Exchange with respect to the Initial Securities pursuant to which Holders of such Initial Securities are offered Private Exchange Securities in exchange for their Initial
Securities, all requirements pertaining to such Initial Securities that Initial Securities be issued in global form shall continue to apply, and Private Exchange Securities in global form with the Restricted Securities Legend shall be available to
Holders that exchange such Initial Securities in such Private Exchange. 
 (vi) Upon a sale or transfer after the expiration
of the Restricted Period of any Initial Security acquired pursuant to Regulation S, all requirements that such Initial Security bear the Restricted Securities Legend shall cease to apply and the requirements requiring any such Initial Security be
issued in global form shall continue to apply. 
 (e) Cancellation or Adjustment of Global Security. At such time as all beneficial
interests in a Global Security have either been exchanged for Definitive Securities, transferred, redeemed, repurchased or canceled, such Global Security shall be returned by the Depositary to the Trustee for cancellation or retained and canceled by
the Trustee. At any time prior to such cancellation, if any beneficial interest in a Global Security is exchanged for Definitive Securities, transferred in exchange for an interest in another Global Security, redeemed, repurchased or canceled, the
principal amount of Securities represented by such Global Security shall be reduced and an adjustment shall be made on the books and records of the Trustee (if it is then the Securities Custodian for such Global Security) with respect to such Global
Security, by the Trustee or the Securities Custodian, to reflect such reduction. 
 (f) Obligations with Respect to Transfers and
Exchanges of Securities. 
 (i) To permit registrations of transfers and exchanges, the Company shall execute and the
Trustee shall authenticate, Definitive Securities and Global Securities at the Registrar’s request. 
  

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 (ii) No service charge shall be made for any registration of transfer or exchange, but
the Company may require payment of a sum sufficient to cover any transfer tax, assessments, or similar governmental charge payable in connection therewith (other than any such transfer taxes, assessments or similar governmental charge payable upon
exchange or transfer pursuant to Sections 8.5 or 12.3 of the Indenture). 
 (iii) Prior to the due presentation for
registration of transfer of any Security, the Company, the Trustee, the Paying Agent or the Registrar may deem and treat the person in whose name a Security is registered as the absolute owner of such Security for the purpose of receiving payment of
principal of and interest on such Security and for all other purposes whatsoever, whether or not such Security is overdue, and none of the Company, the Trustee, the Paying Agent or the Registrar shall be affected by notice to the contrary.

 (iv) The Company shall not be required to make and the Registrar need not register transfers or exchanges of Securities
selected for redemption (except, in the case of Securities to be redeemed in part, the portion thereof not to be redeemed) or any Securities for a period of 15 days before the mailing of a notice of redemption of Securities to be redeemed.

 (v) All Securities issued upon any transfer or exchange pursuant to the terms of this Supplemental Indenture shall evidence
the same Debt and shall be entitled to the same benefits under the Indenture as the Securities surrendered upon such transfer or exchange. 
 (g) No
Obligation of the Trustee. 
 (i) The Trustee shall have no responsibility or obligation to any beneficial owner of a
Global Security, a member of, or a participant in the Depositary or any other Person with respect to the accuracy of the records of the Depositary or its nominee or of any participant or member thereof, with respect to any ownership interest in the
Securities or with respect to the delivery to any participant, member, beneficial owner or other Person (other than the Depositary) of any notice (including any notice of redemption or repurchase) or the payment of any amount, under or with respect
to such Securities. All notices and communications to be given to the Holders and all payments to be made to Holders under the Securities shall be given or made only to the registered Holders (which shall be the Depositary or its nominee in the case
of a Global Security). The rights of beneficial owners in any Global Security shall be exercised only through the Depositary subject to the applicable rules and procedures of the Depositary. The Trustee may rely and shall be fully protected in
relying upon information furnished by the Depositary with respect to its members, participants and any beneficial owners. 
 (ii) The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed under this Supplemental Indenture or under applicable law with respect to any transfer of any
interest in any Security (including any transfers between or among Depositary participants, members or beneficial owners in any Global Security) other than to require delivery of such certificates and other documentation or evidence as are expressly
required by, 
  

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 and to do so if and when expressly required by, the terms of this Supplemental Indenture, and to examine
the same to determine substantial compliance as to form with the express requirements hereof. 
 SECTION 2.7 Definitive Securities.

 (a) A Global Security deposited with the Depositary or with the Trustee as Securities Custodian pursuant to Section 2.3 shall be
transferred to the beneficial owners thereof in the form of Definitive Securities in an aggregate principal amount equal to the principal amount of such Global Security, in exchange for such Global Security, only if such transfer complies with
Section 2.6 and (i) the Company notifies the Trustee that the Depositary is no longer willing or able to act as a depositary or clearing system for the Securities or the Depositary or the Depositary ceases to be a “clearing
agency” registered under the Exchange Act, and a successor depositary or clearing system is not appointed by the Company within 90 days of such notice or cessation, (ii) the Company, in its sole discretion, notifies the Trustee in writing
that it elects to cause the issuance of Definitive Securities under the Indenture, or (iii) upon the occurrence and continuation of an Event of Default. 
 (b) Any Global Security that is transferable to the beneficial owners thereof pursuant to this Section 2.7 shall be surrendered by the Depositary to the Trustee, to be so transferred, in whole or from time to
time in part, without charge, and the Trustee shall authenticate and deliver, upon such transfer of each portion of such Global Security, an equal aggregate principal amount of Definitive Securities of authorized denominations. Any portion of a
Global Security transferred pursuant to this Section 2.7 shall be executed, authenticated and delivered only in denominations of $1,000 of principal amount and any integral multiple thereof and registered in such names as the Depositary shall
direct. Any certificated Initial Security in the form of a Definitive Security delivered in exchange for an interest in the Global Security shall, except as otherwise provided by Section 2.6, bear the Restricted Securities Legend. 

(c) The registered Holder of a Global Security may grant proxies and otherwise authorize any Person, including Participants and Persons that may hold
interests through Participants, to take any action which a Holder is entitled to take under the Indenture or the Securities. 
 (d) In the
event of the occurrence of any of the events specified in Section 2.7(a)(i), (ii) or (iii), the Company will promptly make available to the Trustee a reasonable supply of Definitive Securities in fully registered form without interest
coupons. 
 SECTION 2.8 Optional Redemption The Company may redeem the Securities in whole at any time or in part from time to time,
at the Company’s option, at a redemption price equal to the greater of: 
 (i) 100% of the principal amount of the
Securities to be redeemed; and 
 (ii) the sum of the present values of the remaining scheduled payments of principal and
interest (excluding interest accrued to the redemption date) on the Securities discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the applicable Treasury Rate plus 30 basis
points, 
 plus, in each case, accrued and unpaid interest on the principal amount being redeemed to the redemption date.

  

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 ARTICLE THREE 
 MISCELLANEOUS PROVISIONS 
 SECTION 3.1 Ratification. The Indenture, as supplemented and amended by
this Supplemental Indenture, is in all respects hereby adopted, ratified and confirmed. 
 SECTION 3.2 Counterparts. This Supplemental
Indenture may be executed in any number of counterparts, each of which when so executed shall be deemed an original, and all such counterparts shall together constitute but one and the same instrument. 
 SECTION 3.3 Governing Law. THIS SUPPLEMENTAL INDENTURE AND EACH SECURITY SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF NEW YORK WITHOUT REGARD TO THE CHOICE OF LAW PRINCIPLES THEREOF. 
 [signature page follows] 
  

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 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture No. 1 to be duly
executed as of the day and year first above written. 
  

			
	USG CORPORATION
		
	By:	 	 /s/ Karen L. Leets

	Name:	 	Karen L. Leets
	Title:	 	Vice President and Treasurer
		
	By:	 	 /s/ Ellis A. Regenbogen

	Name:	 	Ellis A. Regenbogen
	Title:	 	Corporate Secretary and Associate General Counsel
	
	 WELLS FARGO BANK, NATIONAL ASSOCIATION,
     as Trustee

		
	By:	 	 /s/ Patricia B. Martirano

	Name:	 	Patricia B. Martirano
	Title:	 	Vice President

  

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 EXHIBIT A — Form of Note 
 USG CORPORATION. 
 6.30% Senior Note due 2016 
 Unless this certificate is presented by an authorized representative of The Depository Trust Company, a New York corporation (“DTC”), to the
Company (as defined below) or its agent for registration of transfer, exchange or payment, and any certificate issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC (and
any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered
owner hereof, Cede & Co., has an interest herein. 
  

				
	 No. 1
	  	U.S.$	500,000,000

 CUSIP No.: 903293AQ1 
 USG Corporation, a corporation duly organized and existing under the laws of Delaware (herein called the “Company”, which term includes any successor Person under the Indenture hereinafter referred to), for
value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal amount set forth above on November 15, 2016, and to pay interest thereon from November 17, 2006 or from the most recent interest payment
date to which interest has been paid or duly provided for, semiannually on May 15 and November 15 in each year, commencing May 15, 2007, at the rate of 6.30% per annum, until the principal hereof is paid or made available for
payment; provided, however, in the event of a Registration Default (as defined in the Registration Agreement), additional interest shall accrue on the Securities affected thereby over and above the interest rate set forth in the title to the
Securities from and including the next day following each such Registration Default, in each case at a rate equal to 0.25% per annum and, in the event of a Registration Default continuing for more than 90 days, then thereafter from the 91st day
until the date upon which such Registration Default is fully-cured or this Note otherwise becomes freely tradable under the Securities Act, at a rate equal to 0.50% per annum (such interest, “Additional Interest”). Additional Interest
attributable to a Registration Default shall cease to accrue once such Registration Default is fully-cured or this Note otherwise becomes freely tradable under the Securities Act. 
 The Company shall notify the Trustee within three Business Days after the occurrence of a Registration Default, and Additional Interest shall be paid by
depositing with the Trustee, in trust for the benefit of the Holders entitled to receive the Additional Interest, on or before the applicable semiannual interest payment date, immediately available funds in sums sufficient to pay the Additional
Interest then due. The Additional Interest due shall be payable on each interest payment date to the record Holder entitled to receive the interest payment to be paid on such date as set forth in the Indenture. 
  

 A-1 

 The interest (and Additional Interest, if any) so payable, and punctually paid or duly provided for, on
any interest payment date will, as provided in the Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the regular record date for such interest, which shall
be the May 1 or November 1 (whether or not a Business Day), as the case may be, next preceding such interest payment date. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on
such regular record date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a special record date for the payment of such Defaulted Interest to be fixed
by the Trustee, notice whereof shall be given to Holders of Securities of this series not less than 10 days prior to such special record date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities
exchange on which the Securities of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture. 
 Payment of the principal of (and premium, if any) and interest (and Additional Interest, if any) on this Security will be made at the office or agency of the Company maintained for that purpose in the Borough of
Manhattan, The City of New York, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts; provided, however, that at the option of the Company payment of interest may
be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register or by wire transfer to an account maintained by the Person entitled thereto as specified in the Security Register, provided
that such Person shall have given the Trustee written wire instructions at least five Business Days prior to the applicable Interest Payment Date. 
 Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 
 Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Security
shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 
 [Signatures appear on next page]

  

 A-2 

 IN WITNESS WHEREOF, USG Corporation has caused this instrument to be duly signed. 
  

			
	USG CORPORATION
		
	By:	 	

	Name:	 	
	Title:	 	
		
	By:	 	

	Name:	 	
	Title:	 	
		 	

 Dated: November 17, 2006 
  

 A-3 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 
 This is one of the Securities of the Series designated herein and referred to in the within-mentioned Indenture. 
  

			
	Wells Fargo Bank, National Association,
	    as Trustee
		
	By:	 	  

		 	Authorized Signatory

 Dated: 
  

 A-1 

 [FORM OF REVERSE SIDE OF SECURITY] 
 6.30% Senior Note due 2016 
 Section 1. Indenture 
 The Company issued the Securities under an Indenture, dated as of November 1, 2006, between the Company and the Trustee, and Supplemental Indenture
No. 1 thereto, dated as of November 17, 2006 (collectively, the “Indenture”). The terms of the Securities include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act as in
effect on the date of the Indenture. Terms defined in the Indenture and not defined herein have the meanings ascribed thereto in the Indenture. The Securities are subject to all terms and provisions of the Indenture, and Securityholders are referred
to the Indenture and the Trust Indenture Act for a statement of such terms and provisions. 
 The Securities are senior unsecured obligations
of the Company initially limited to $500,000,000 aggregate principal amount at any one time outstanding. This Security is one of the Initial Securities referred to in the Indenture. The Securities include the Initial Securities and any Exchange
Securities and Private Exchange Securities issued in exchange for Initial Securities. The Initial Securities, the Exchange Securities and the Private Exchange Securities are treated as a single class of securities under the Indenture. 
 Section 2. Redemption 
 The
Securities may be redeemed, in whole or in part, at the option of the Company at any time or from time to time. The redemption price for the Securities to be redeemed on any redemption date will be equal to the greater of the following amounts:

  

	 	•	 	100% of the principal amount of the Securities to be redeemed and 

  

	 	•	 	the sum of the present values of the remaining scheduled payments of principal and interest (excluding interest accrued to the redemption date) on the Securities discounted to the
date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the applicable Treasury Rate plus 30 basis points, 

 plus, in each case, accrued and unpaid interest on the principal amount being redeemed to the redemption date. 
 Notwithstanding the foregoing, installments of interest on Securities that are due and payable on interest payment dates falling on or prior to a redemption date will be payable on the interest payment date to the Holders as of the close of
business on the relevant record date. The redemption price will be calculated on the basis of a 360-day year consisting of twelve 30-day months. 
  

 A-2 

 “Treasury Rate” means, with respect to any redemption date, (1) the yield, under the
heading which represents the average for the immediately preceding week, appearing in the most recently published statistical release designated “H.15(519)” or any successor publication which is published weekly by the Board of Governors
of the Federal Reserve System and which establishes yields on actively traded United States Treasury securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the maturity corresponding to the
Comparable Treasury Issue (if no maturity is within three months before or after the Remaining Life, yields for the two published maturities most closely corresponding to the Comparable Treasury Issue will be determined and the Treasury Rate will be
interpolated or extrapolated from such yields on a straight line basis, rounding to the nearest month) or (2) if such release (or any successor release) is not published during the week preceding the calculation date or does not contain such
yields, the rate per year equal to the semi-annual equivalent yield-to-maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable
Treasury Price for such redemption date. The Treasury Rate will be calculated on the third Business Day preceding the redemption date. 
 “Comparable Treasury Issue” means the United States Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining term of the Securities that would be utilized at the time of
selection in accordance with customary financial practice in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the Securities. 
 “Comparable Treasury Price” means (1) the average of five Reference Treasury Dealer Quotations for such redemption date, after excluding
the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Independent Investment Banker is unable to obtain five such Reference Treasury Dealer Quotations, the average of all such quotations obtained by the Independent
Investment Banker. 
 “Independent Investment Banker” means either Banc of America Securities LLC or Citigroup Global Markets Inc.,
and their respective successors, or, if both firms are unwilling or unable to select the Comparable Treasury Issue, an independent investment banking institution of national standing appointed by the Trustee after approval by the Company.

 “Reference Treasury Dealer” means (1) each of Banc of America Securities LLC and Citigroup Global Markets Inc., or their
respective successors; provided, however, that if any of the foregoing shall cease to be a primary U.S. Government securities dealer in New York City (a “Primary Treasury Dealer”), the Company shall substitute another Primary Treasury
Dealer and (2) any three other Primary Treasury Dealers selected by the Independent Investment Banker after consultation with the Company. 
 “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable
Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Independent Investment Banker at 5:00 p.m., New York City time, on the third Business Day preceding such redemption date. 
  

 A-3 

 Section 3. Repurchase Upon Change of Control Triggering Event 
 If a Change of Control Triggering Event occurs, unless the Company has exercised its right to redeem the Securities as provided in Section 2 above,
the Company shall make an offer to each Securityholder to repurchase all or any part (in integral multiples of $1,000) of that Securityholder’s Securities at a repurchase price in cash equal to 101% of the aggregate principal amount of
Securities repurchased plus any accrued and unpaid interest on the Securities repurchased to the date of purchase. Within 30 days following any Change of Control Triggering Event or, at the option of the Company, prior to any Change of Control,
but after the public announcement of the Change of Control, the Company shall mail a notice to each Securityholder, with a copy to the Trustee, describing the transaction or transactions that constitute or may constitute the Change of Control
Triggering Event and offering to repurchase Securities on the payment date specified in the notice, which date will be no earlier than 30 days and no later than 60 days from the date such notice is mailed. The notice shall, if mailed prior
to the date of consummation of the Change of Control, state that the offer to purchase is conditioned on the Change of Control Triggering Event occurring on or prior to the payment date specified in the notice. 
 The Company shall comply with the requirements of Rule 14e-1 under the Securities Exchange Act of 1934, or the Exchange Act, and any other securities
laws and regulations thereunder, to the extent those laws and regulations are applicable in connection with the repurchase of the notes as a result of a Change of Control Triggering Event. To the extent that the provisions of any securities laws or
regulations conflict with this Section 3, the Company shall comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under this Section 3, or the Indenture by virtue of such
conflict. 
 On the Change of Control Triggering Event payment date, the Company shall, to the extent lawful: 
  

	 	•	 	accept for payment all Securities or portions of Securities properly tendered pursuant to the aforementioned offer; 

  

	 	•	 	deposit with the Paying Agent an amount equal to the aggregate purchase price in respect of all Securities or portions of Securities properly tendered; and

  

	 	•	 	deliver or cause to be delivered to the Trustee the Securities properly accepted, together with an Officers’ Certificate stating the aggregate principal amount of Securities
being purchased by the Company. 

  

 A-4 

 The Paying Agent will promptly mail to each Securityholder of Securities properly tendered the purchase
price for the Securities, and the Trustee will promptly authenticate and mail (or cause to be transferred by book-entry) to each Securityholder a new Security equal in principal amount to any unpurchased portion of any Securities surrendered;
provided, that each new Security will be in a principal amount of $1,000 or an integral multiple of $1,000. 
 The Company shall not be
required to make an offer to repurchase the Securities upon a Change of Control Triggering Event if a third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Company and
such third party purchases all Securities properly tendered and not withdrawn under its offer. 
 “Below Investment Grade Rating
Event” means the Securities are rated below Investment Grade by both Rating Agencies on any date from the date of the public notice of an arrangement that could result in a Change of Control until the end of the 60-day period following public
notice of the occurrence of a Change of Control (which period shall be extended so long as the rating of the Securities is under publicly announced consideration for possible downgrade by either of the Rating Agencies); provided, that a Below
Investment Grade Rating Event otherwise arising by virtue of a particular reduction in rating shall not be deemed to have occurred in respect of a particular Change of Control (and thus shall not be deemed to constitute a Below Investment Grade
Rating Event for purposes of the definition of Change of Control Triggering Event hereunder) if the Rating Agency or Rating Agencies making the reduction in rating to which this definition would otherwise apply do not announce or publicly confirm or
inform the Trustee in writing at its or the Company’s request that the ratings reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the applicable Change of
Control (whether or not the applicable Change of Control shall have occurred at the time of the Below Investment Grade Rating Event). 
 “Change of Control” means the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that any “person” (as that term is used in Section 13(d)(3) of the
Exchange Act), becomes the beneficial owner, directly or indirectly, of more than 50% of the Voting Stock of the Company, measured by voting power rather than number of shares. 
 “Change of Control Triggering Event” means the occurrence of both a Change of Control and a Below Investment Grade Rating Event. 
 “Investment Grade” means a rating of Baa3 or better by Moody’s (or its equivalent under any successor rating categories of Moody’s);
a rating of BBB- or better by S&P (or its equivalent under any successor rating categories of S&P); and the equivalent investment grade credit rating from any additional Rating Agency or Rating Agencies selected by the Company. 

“Moody’s” means Moody’s Investor Services Inc. 
  

 A-5 

 “Rating Agency” means (1) each of Moody’s and S&P; and (2) if either of
Moody’s or S&P ceases to rate the Securities or fails to make a rating of the Securities publicly available for reasons outside of the Company’s control, a “nationally recognized statistical rating organization” within the
meaning of Rule 15c3-1(c)(2)(vi)(F) under the Exchange Act, selected by us as a replacement agency for Moody’s or S&P, or both, as the case may be. 
 “S&P” means Standard & Poor’s Ratings Services, a division of McGraw-Hill, Inc. 
 “Voting Stock” means, with respect to any Person, Capital Stock of any class or kind the holders of which are ordinarily, in the absence of contingencies, entitled to vote for the election of directors (or persons performing
similar functions) of such Person, even if the right so to vote has been suspended by the happening of such a contingency. 
 Section 4.
Sinking Fund 
 The Securities are not subject to any sinking fund. 
 Section 5. Denominations; Transfer; Exchange 
 The Securities are in registered form without coupons in denominations of $1,000 and whole multiples of $1,000. A Holder may transfer or exchange Securities in accordance with the Indenture. Upon any transfer or
exchange, the Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements or transfer documents and to pay any taxes required by law or permitted by the Indenture. The Registrar need not register the
transfer of or exchange any Securities selected for redemption or to transfer or exchange any Securities for a period of 15 days prior to the mailing of a notice of redemption of Securities to be redeemed. 
 Section 6. Persons Deemed Owners 
 The registered Holder of this Security may be treated as the owner of it for all purposes. 
 Section 7. Unclaimed Money

 If money for the payment of principal or interest remains unclaimed for two years, the Trustee or Paying Agent shall pay the money back to
the Company at its written request unless an abandoned property law designates another Person. After any such payment, Holders entitled to the money must look only to the Company and not to the Trustee for payment. 
 Section 8. Discharge and Defeasance 
 Subject to certain conditions as set forth in the Indenture, the Company at any time may terminate some of or all its obligations under the Securities and the Indenture if the Company deposits with the Trustee money or U.S. Government
Obligations for the payment of principal and interest on the Securities to redemption or maturity, as the case may be. 
  

 A-6 

 Section 9. Trustee Dealings with the Company 
 Subject to certain limitations imposed by the Trust Indenture Act, the Trustee under the Indenture, in its individual or any other capacity, may become
the owner or pledgee of Securities and may otherwise deal with and collect obligations owed to it by the Company or its Affiliates and may otherwise deal with the Company or its Affiliates with the same rights it would have if it were not Trustee.

 Section 10. No Recourse Against Others 
 A director, officer, employee or stockholder, as such, of the Company shall not have any liability for any obligations of the Company under the Securities or the Indenture or for any claim based on, in respect of or
by reason of such obligations or their creation. By accepting a Security, each Securityholder waives and releases all such liability. The waiver and release are part of the consideration for the issue of the Securities. 
 Section 11. Authentication 
 This
Security shall not be valid until an authorized signatory of the Trustee (or an authenticating agent) manually signs the certificate of authentication on the other side of this Security. 
 Section 12. Governing Law 
 THIS
SECURITY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK BUT WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE
REQUIRED THEREBY. 
 Section 13. 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 Securities and has directed the Trustee to use CUSIP
numbers in notices of redemption as a convenience to Securityholders. No representation is made as to the accuracy of such numbers either as printed on the Securities or as contained in any notice of redemption and reliance may be placed only on the
other identification numbers placed thereon. 
 Section 14. Holders’ Compliance with Registration Agreement 
 Each Holder of a Security, by acceptance hereof, acknowledges and agrees to the provisions of the Registration Agreement, including, without limitation,
the obligations of the Holders with respect to a registration and the indemnification of the Company to the extent provided therein. In the event of a conflict between the terms of this Security and the Registration Agreement, the terms of the
Registration Agreement shall control. 
  

 A-7 

 The Company will furnish to any Holder of Securities upon written request and without charge to the
Holder a copy of the Indenture which has in it the text of this Security. 
  

 A-8 

 CERTIFICATE TO BE DELIVERED UPON EXCHANGE 
 OR REGISTRATION OF TRANSFER OF SECURITIES 
 This Certificate relates to
$                     principal amount of Securities held in (check applicable space)         
book-entry or          definitive form by
                                        
(the “Transferor”). 
 The Transferor (check one box below): 
 has requested the Trustee by written order to deliver in exchange for its beneficial interest in the Global Security held by the Depositary a Security or Securities in definitive, registered form of authorized
denominations in an aggregate principal amount equal to its beneficial interest in such Global Security (or the portion thereof indicated above); or 
 has requested the Trustee by written order to exchange or register the transfer of a Security or Securities. 
 In connection with
any transfer of any of the Securities evidenced by this certificate occurring prior to the expiration of the period referred to in Rule 144(k) under the Securities Act of 1933, the undersigned confirms that such Securities are being transferred in
accordance with its terms: 
 CHECK ONE BOX BELOW 
  

					
	 (1)
	  	 ̈	  	to the Company; or
			
	 (2)
	  	  ̈
	  	pursuant to an effective registration statement under the Securities Act of 1933; or
			
	 (3)
	  	  ̈
	  	inside the United States to a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act of 1933) that purchases for its own account or for the account of a
qualified institutional buyer to whom notice is given that such transfer is being made in reliance on Rule 144A, in each case pursuant to and in compliance with Rule 144A under the Securities Act of 1933; or
			
	 (4)
	  	  ̈
	  	pursuant to another available exemption from registration provided by Rule 144 under the Securities Act of 1933.

 Prior to the expiration of the period referred to in Rule 144(k), unless one of the boxes is
checked, the Trustee will refuse to register any of the Securities evidenced by this certificate in the name of any Person other than the registered holder thereof; provided, however, that if box (4), (5) or (6) is checked, the Trustee may
require, prior to registering any such transfer of the Securities, such legal opinions, certifications and other information satisfactory to the Company and the Trustee to confirm that such transfer is being 
  

 A-9 

 made pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities
Act of 1933. 
  

	
	  

	[INSERT NAME OF TRANSFEROR]

  

			
	Dated:	 	  

	By:	 	  

  

 A-10 

 SCHEDULE OF EXCHANGES 
 The following exchanges of a part of this Book-Entry Security have been made: 
  

									
	 Date of Exchange
	  	 Amount of decrease in
 Principal Amount of
 this Book-Entry
Security
	  	 Amount of increase in
 Principal Amount of
 this
Book-Entry
 Security
	  	 Principal Amount of this
 Book-Entry Security
 following such
decrease
 (or increase)
	  	 Signature of
 authorized signatory
 of Trustee
or
 Security Custodian

  

 A-11 

 ASSIGNMENT FORM 
 To assign this Security, fill in the form below: 
 I or we assign and transfer this Security to 
  

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

 (Insert assignee’s soc. sec. or tax I.D. No.) 
 and irrevocably appoint
                                        
                     agent to transfer this Security 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 other side of this Security. 
  

 A-12Registration Rights Agreement

 Exhibit 10.01 
 USG Corporation 
 6.30% Senior Notes due 2016 
 REGISTRATION RIGHTS AGREEMENT 
 November 17, 2006 
 Citigroup Global Markets Inc. 
 Banc of America Securities LLC 
 As Representatives of the Initial Purchasers 

	c/o	Citigroup Global Markets Inc. 

 388 Greenwich Street

 New York, New York 10013 
 Ladies and Gentlemen: 
 USG Corporation, a corporation organized under the laws of the State of Delaware (the
“Company”), proposes to issue and sell to certain purchasers (the “Initial Purchasers”), for whom you (the “Representatives”) are acting as representatives, its 6.30% Senior Notes due 2016 (the “Securities”),
upon the terms set forth in the Purchase Agreement between the Company and the Representatives dated November 14, 2006 (the “Purchase Agreement”) relating to the initial placement (the “Initial Placement”) of the Securities.
To induce the Initial Purchasers to enter into the Purchase Agreement and to satisfy a condition to your obligations thereunder, the Company agrees with you for your benefit and the benefit of the holders from time to time of the Securities
(including the Initial Purchasers) and the New Securities (as defined below) (each a “Holder” and, collectively, the “Holders”), as follows: 
 1. Definitions. Capitalized terms used herein without definition shall have their respective meanings set forth in the Purchase Agreement. As used in this Agreement, the following capitalized defined terms
shall have the following meanings: 
 “Act” shall mean the Securities Act of 1933, as amended, and the rules and regulations of the
Commission promulgated thereunder. 
 “Affiliate” shall have the meaning specified in Rule 405 under the Act and the terms
“controlling” and “controlled” shall have meanings correlative thereto. 
 “Broker-Dealer” shall mean any
broker or dealer registered as such under the Exchange Act. 
 “Business Day” shall mean any day other than a Saturday, a Sunday or
a legal holiday or a day on which banking institutions or trust companies are authorized or obligated by law to close in New York City. 
 “Closing Date” shall mean the date of the first issuance of the Securities. 

 “Commission” shall mean the Securities and Exchange Commission. 
 “Company” shall have the meaning set forth in the preamble hereto. 
 “Deferral Period” shall have the meaning indicated in Section 4(k)(ii) hereof. 
 “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated
thereunder. 
 “Exchange Offer Registration Period” shall mean the one-year period following the consummation of the Registered
Exchange Offer, exclusive of any period during which any stop order shall be in effect suspending the effectiveness of the Exchange Offer Registration Statement. 
 “Exchange Offer Registration Statement” shall mean a registration statement of the Company on an appropriate form under the Act with respect to the Registered Exchange Offer, all amendments and supplements
to such registration statement, including post-effective amendments thereto, in each case including the Prospectus contained therein, all exhibits thereto and all material incorporated by reference therein. 
 “Exchanging Dealer” shall mean any Holder (which may include any Initial Purchaser) that is a Broker-Dealer and elects to exchange for New
Securities any Securities that it acquired for its own account as a result of market-making activities or other trading activities (but not directly from the Company or any Affiliate of the Company). 
 “Final Memorandum” shall mean the offering memorandum, dated November 14, 2006, relating to the Securities, including any and all exhibits
thereto and any information incorporated by reference therein as of such date. 
 “Holder” shall have the meaning set forth in the
preamble hereto. 
 “Indenture” shall mean the Indenture relating to the Securities and the New Securities, dated as of
November 1, 2006, between the Company and Wells Fargo Bank, National Association, as trustee, as the same may be amended from time to time in accordance with the terms thereof. 
 “Initial Placement” shall have the meaning set forth in the preamble hereto. 
 “Initial Purchaser” shall have the meaning set forth in the preamble hereto. 
 “Losses” shall have the meaning set forth in Section 6(d) hereof. 
 “Majority Holders” shall mean, on any date, Holders of a majority of the aggregate principal amount of Securities registered under a
Registration Statement. 
 “Managing Underwriters” shall mean the investment banker or investment bankers and manager or managers
that administer an underwritten offering, if any, under a Registration Statement. 
  

 2 

 “NASD Rules” shall mean the Conduct Rules and the By-Laws of the National Association of
Securities Dealers, Inc. 
 “New Securities” shall mean debt securities of the Company substantially identical in all material
respects to the Securities (except that the transfer restrictions shall be modified or eliminated, as appropriate) to be issued under the Indenture. 
 “Prospectus” shall mean the prospectus included in any Registration Statement (including, without limitation, a prospectus that discloses information previously omitted from a prospectus filed as part of an
effective registration statement in reliance upon Rule 430A under the Act), as amended or supplemented by any prospectus supplement, with respect to the terms of the offering of any portion of the Securities or the New Securities covered by such
Registration Statement, and all amendments and supplements thereto, including any and all exhibits thereto and any information incorporated by reference therein. 
 “Purchase Agreement” shall have the meaning set forth in the preamble hereto. 
 “Registered
Exchange Offer” shall mean the proposed offer of the Company to issue and deliver to the Holders of the Securities that are not prohibited by any law or policy of the Commission from participating in such offer, in exchange for the Securities,
a like aggregate principal amount of the New Securities. 
 “Registrable Securities” shall mean (i) Securities other than
those that have been (A) registered under a Registration Statement and disposed of in accordance therewith or (B) distributed to the public pursuant to Rule 144 under the Act or any successor rule or regulation thereto that may be adopted
by the Commission and (ii) any New Securities resale of which by the Holder thereof requires compliance with the prospectus delivery requirements of the Act. 
 “Registration Default Damages” shall have the meaning set forth in Section 8 hereof. 
 “Registration Statement” shall mean any Exchange Offer Registration Statement or Shelf Registration Statement that covers any of the Securities or the New Securities pursuant to the provisions of this Agreement, any amendments and
supplements to such registration statement, including post-effective amendments (in each case including the Prospectus contained therein), all exhibits thereto and all material incorporated by reference therein. 
 “Representatives” shall have the meaning set forth in the preamble hereto. 
 “Securities” shall have the meaning set forth in the preamble hereto. 
 “Shelf Registration” shall mean a registration effected pursuant to Section 3 hereof. 
 “Shelf Registration Period” has the meaning set forth in Section 3(b) hereof. 
 “Shelf Registration Statement” shall mean a “shelf” registration statement of the Company pursuant to the provisions of
Section 3 hereof which covers some or all of the 
  

 3 

 Securities or New Securities, as applicable, on an appropriate form under Rule 415 under the Act, or any similar
rule that may be adopted by the Commission, all amendments and supplements to such registration statement, including post-effective amendments, in each case including the Prospectus contained therein, all exhibits thereto and all material
incorporated by reference therein. 
 “Trustee” shall mean the trustee with respect to the Securities and New Securities under the
Indenture. 
 “Trust Indenture Act” shall mean the Trust Indenture Act of 1939, as amended, and the rules and regulations of the
Commission promulgated thereunder. 
 “underwriter” shall mean any underwriter of Securities in connection with an offering thereof
under a Shelf Registration Statement. 
 2. Registered Exchange Offer. (a) The Company shall prepare and, not later than 150 days
following the Closing Date, shall file with the Commission the Exchange Offer Registration Statement with respect to the Registered Exchange Offer. The Company shall use its reasonable best efforts to cause the Exchange Offer Registration Statement
to become effective under the Act within 210 days of the Closing Date and to complete the Registered Exchange Offer not later than 240 days following the Closing Date. 
 (b) Upon 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 electing to exchange Securities for New Securities (assuming that such Holder is not an Affiliate of the Company, acquires the New Securities in the ordinary course of such Holder’s business, has no arrangements with any person to
participate in the distribution of the New Securities and is not prohibited by any law or policy of the Commission from participating in the Registered Exchange Offer) to trade such New Securities from and after their receipt without any limitations
or restrictions under the Act and without material restrictions under the securities laws of a substantial proportion of the several states of the United States. 
 (c) In connection with the Registered Exchange Offer, the Company shall: 
 (i) mail to each
Holder a copy of the Prospectus forming part of the Exchange Offer Registration Statement, together with an appropriate letter of transmittal and related documents; 
 (ii) keep the Registered Exchange Offer open for not less than 20 Business Days and not more than 30 Business Days after the date notice
thereof is mailed to the Holders (or, in each case, longer if required by applicable law); 
 (iii) use its reasonable best
efforts to keep the Exchange Offer Registration Statement continuously effective under the Act and supplemented and amended as required, under the Act to ensure that it is available for sales of New Securities by Exchanging Dealers during the
Exchange Offer Registration Period; 
  

 4 

 (iv) utilize the services of a depositary for the Registered Exchange Offer with an
address in the Borough of Manhattan in New York City, which may be the Trustee or an Affiliate thereof; 
 (v) permit Holders
to withdraw tendered Securities at any time prior to the close of business, New York time, on the last Business Day on which the Registered Exchange Offer is open; 
 (vi) prior to effectiveness of the Exchange Offer Registration Statement, provide a supplemental letter to the Commission (A) stating
that the Company is conducting the Registered Exchange Offer in reliance on the position of the Commission in Exxon Capital Holdings Corporation (pub. avail. May 13, 1988) and Morgan Stanley and Co., Inc. (pub. avail. June 5,
1991); and (B) including a representation that the Company has not entered into any arrangement or understanding with any person to distribute the New Securities to be received in the Registered Exchange Offer and that, to the best of the
Company’s information and belief, each Holder participating in the Registered Exchange Offer is acquiring the New Securities in the ordinary course of business and has no arrangement or understanding with any person to participate in the
distribution of the New Securities; and 
 (vii) comply in all respects with all applicable laws. 
 (d) As soon as practicable after the close of the Registered Exchange Offer, the Company shall: 
 (i) accept for exchange all Securities tendered and not validly withdrawn pursuant to the Registered Exchange Offer; 
 (ii) deliver to the Trustee for cancellation in accordance with Section 4(s) all Securities so accepted for exchange; and 

(iii) cause the Trustee promptly to authenticate and deliver to each Holder of Securities a principal amount of New Securities equal to
the principal amount of the Securities of such Holder so accepted for exchange. 
 (e) Each Holder hereby acknowledges and agrees that any
Holder using the Registered Exchange Offer to participate in a distribution of the New Securities or who is a Broker Dealer who purchased notes from the Company to resell pursuant to Rule 144A or any other available exemption under the Securities
Act (x) could not under Commission policy as in effect on the date of this Agreement rely on the position of the Commission in Exxon Capital Holdings Corporation (pub. avail. May 13, 1988) and Morgan Stanley and Co., Inc.
(pub. avail. June 5, 1991), as interpreted in the Commission’s letter to Shearman & Sterling dated July 2, 1993 and similar no-action letters; (y) may not tender Securities in the Registered Exchange Offer; and
(z) must comply with the registration and prospectus delivery requirements of the Act in connection with any secondary resale transaction, which must be covered by an effective registration statement containing the selling security holder
information required by Item 507 or 508, as applicable, of Regulation S-K under the Act if the resales are of New Securities obtained 
  

 5 

 by such Holder in exchange for Securities acquired by such Holder directly from the Company or one of its Affiliates.
Accordingly, 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 New Securities received by such Holder will be acquired in the ordinary course of business; 
 (ii) such Holder will have no arrangement or understanding with any person to participate in the distribution of the Securities or the New
Securities within the meaning of the Act; 
 (iii) such Holder is not an Affiliate of the Company; and 
 (iv) if not a Broker Dealer, such Holder is not engaged in, and does not intend to engage in, the distribution of the New Securities
within the meaning of the Act. 
 (f) If any Initial Purchaser determines that it is not eligible to participate in the Registered Exchange
Offer with respect to the exchange of Securities constituting any portion of an unsold allotment, at the request of such Initial Purchaser, the Company shall issue and deliver to such Initial Purchaser or the person purchasing New Securities
registered under a Shelf Registration Statement as contemplated by Section 3 hereof from such Initial Purchaser, in exchange for such Securities, a like principal amount of New Securities. The Company shall use its reasonable best efforts to
cause the CUSIP Service Bureau to issue the same CUSIP number for such New Securities as for New Securities issued pursuant to the Registered Exchange Offer. 
 3. Shelf Registration. (a) If (i) due to any change in law or applicable interpretations thereof by the Commission’s staff, the Company determines upon advice of its outside counsel that it is not
permitted to effect the Registered Exchange Offer as contemplated by Section 2 hereof; (ii) for any other reason the Registered Exchange Offer is not consummated within 240 days of the date hereof; (iii) within thirty (30) days following the
consummation of the Registered Exchange Offer any Initial Purchaser so requests with respect to Securities that are not eligible to be exchanged for New Securities in the Registered Exchange Offer and that are held by it following consummation of
the Registered Exchange Offer; (iv) any Holder (other than an Initial Purchaser) is not eligible to participate in the Registered Exchange Offer and such Holder delivers a written request to the Company within thirty (30) days following the
consummation of the Registered Exchange Offer; or (v) in the case of any Initial Purchaser that participates in the Registered Exchange Offer or acquires New Securities pursuant to Section 2(f) hereof, such Initial Purchaser does not receive freely
tradeable New Securities in exchange for Securities constituting any portion of an unsold allotment (it being understood that (x) the requirement that an Initial Purchaser deliver a Prospectus containing the information required by Item 507 or 508
of Regulation S-K under the Act in connection with sales of New Securities acquired in exchange for such Securities shall result in such New Securities being not “freely tradeable”; and (y) the requirement that an Exchanging Dealer deliver
a Prospectus in connection with sales of New Securities acquired in the Registered Exchange Offer in exchange for Securities acquired as a result of market-making activities or other trading activities shall not 
  

 6 

 result in such New Securities being not “freely tradeable”) and such Initial Purchaser delivers a written
request to the Company within thirty (30) days following the consummation of the Registered Exchange Offer, the Company shall effect a Shelf Registration Statement in accordance with subsection (b) below. 
 (b) (i) The Company shall as promptly as reasonably practicable (but in no event more than 30 days after so required or requested pursuant to this
Section 3), file with the Commission and shall use its reasonable best efforts to cause to be declared effective under the Act within 90 days after so required or requested, a Shelf Registration Statement relating to the offer and sale of the
Securities or the New Securities, as applicable, by the Holders thereof from time to time in accordance with the methods of distribution elected by such Holders and set forth in such Shelf Registration Statement; provided, however, that nothing in
this Section 3(b) shall require the filing of a Shelf Registration Statement prior to the deadline for filing the Exchange Offer Registration Statement set forth in Section 2(a) hereof; and provided, further, that no Holder (other than an
Initial Purchaser) shall be entitled to have the Securities held by it covered by such Shelf Registration Statement unless such Holder agrees in writing to be bound by all of the provisions of this Agreement applicable to such Holder; and provided
further, that with respect to New Securities received by an Initial Purchaser in exchange for Securities constituting any portion of an unsold allotment, the Company may, if permitted by current interpretations by the Commission’s staff, file a
post-effective amendment to the Exchange Offer Registration Statement containing the information required by Item 507 or 508 of Regulation S-K, as applicable, in satisfaction of its obligations under this subsection with respect thereto, and
any such Exchange Offer Registration Statement, as so amended, shall be referred to herein as, and governed by the provisions herein applicable to, a Shelf Registration Statement. 
 (ii) The Company shall use its reasonable best efforts to keep the Shelf Registration Statement continuously effective, supplemented and
amended as required by the Act, in order to permit the Prospectus forming part thereof to be usable by Holders for a period) from the date the Shelf Registration Statement is declared effective by the Commission until the earlier of (A) the
second anniversary thereof or (B) the date upon which all the Securities or New Securities, as applicable, covered by the Shelf Registration Statement have been sold pursuant to the Shelf Registration Statement or cease to be outstanding. The
Company shall be deemed not to have used its reasonable best efforts to keep the Shelf Registration Statement effective during the Shelf Registration Period if it voluntarily takes any action that would reasonably be expected to result in Holders of
Securities covered thereby not being able to offer and sell such Securities at any time during the Shelf Registration Period, unless such action is (x) required by applicable law or otherwise undertaken by the Company in good faith and for
valid business reasons (not including avoidance of the Company’s obligations hereunder), including the acquisition or divestiture of assets, and (y) permitted pursuant to Section 4(k)(ii) hereof. 
 (iii) 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 or such amendment or supplement, (A) to comply in all material respects with the applicable requirements of the Act; and 
  

 7 

 (B) not to contain any untrue statement of a material fact or omit to state a material fact required to
be stated therein or necessary in order to make the statements therein (in the case of the Prospectus, in the light of the circumstances under which they were made) not misleading. 
 4. Additional Registration Procedures. In connection with any Shelf Registration Statement and, to the extent applicable, any Exchange Offer
Registration Statement, the following provisions shall apply. 
 (a) The Company shall: 
 (i) furnish to each of the Representatives and to counsel for the Holders or Initial Purchasers, not less than five Business Days prior to
the filing thereof with the Commission, a copy of any Exchange Offer Registration Statement and any Shelf Registration Statement, and each amendment thereof and each amendment or supplement, if any, to the Prospectus included therein (including all
documents incorporated by reference therein after the initial filing) and shall use its reasonable best efforts to reflect in each such document, when so filed with the Commission, such comments as the Representatives reasonably propose within a
reasonable time prior to such filing; 
 (ii) in the case of an Exchange Offer Registration Statement, include the information
in substantially the same form set forth in Annex A hereto on the facing page of the Exchange Offer Registration Statement, in Annex B hereto in the forepart of the Exchange Offer Registration Statement in a section setting forth details of the
Exchange Offer, in Annex C hereto in the underwriting or plan of distribution section of the Prospectus contained in the Exchange Offer Registration Statement, and in Annex D hereto in the letter of transmittal delivered pursuant to the Registered
Exchange Offer; 
 (iii) in the case of an Exchange Offer Registration Statement, if requested by an Initial Purchaser,
include the information required by Item 507 or 508 of Regulation S-K, as applicable, in the Prospectus contained in the Exchange Offer Registration Statement; and 
 (iv) in the case of a Shelf Registration Statement, include the names of the Holders that propose to sell Securities pursuant to the Shelf
Registration Statement as selling security holders to the extent provided by such Holders to the Company. 
 (b) The Company shall ensure
that: 
 (i) any Registration Statement and any amendment thereto and any Prospectus forming part thereof and any amendment or
supplement thereto complies in all material respects with the Act; and 
 (ii) any Registration Statement and any amendment
thereto does not, when it becomes effective, contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading. 
  

 8 

 (c) The Company shall advise the Representatives, the Holders of Securities covered by any Shelf
Registration Statement and any Exchanging Dealer under any Exchange Offer Registration Statement that has provided in writing to the Company a telephone or facsimile number and address for notices, and, if requested by any Representative or any such
Holder or Exchanging Dealer, shall confirm such advice in writing (which notice pursuant to clauses (ii) through (v) hereof shall be accompanied by an instruction to suspend the use of the Prospectus until the Company shall have remedied
the basis for such suspension): 
 (i) when a Registration Statement and any amendment thereto (not including any documents
incorporated by reference therein) 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 any amendment or supplement to the Registration Statement or the Prospectus or for additional
information; 
 (iii) of the issuance by the Commission of any stop order suspending the effectiveness of the Registration
Statement or the institution or threatening of any proceeding for that purpose; 
 (iv) of the receipt by the Company of any
notification with respect to the suspension of the qualification of the securities included therein for sale in any jurisdiction or the institution or threatening of any proceeding for such purpose; and 
 (v) of the happening of any event that requires any change in the Registration Statement or the Prospectus so that, as of such date, they
(A) do not contain any untrue statement of a material fact and (B) do not omit to state a material fact required to be stated therein or necessary to make the statements therein (in the case of the Prospectus, in the light of the
circumstances under which they were made) not misleading. 
 (d) The Company shall use its reasonable best efforts to prevent the issuance of
any order suspending the effectiveness of any Registration Statement or the qualification of the securities therein for sale in any jurisdiction and, if issued, to obtain as soon as possible the withdrawal thereof. 
 (e) The Company shall furnish to each Holder of Securities covered by any Shelf Registration Statement, without charge, at least one copy of such Shelf
Registration Statement and any post-effective amendment thereto, including, upon written request, all material incorporated therein by reference and all exhibits thereto (including exhibits incorporated by reference therein). 
  

 9 

 (f) The Company shall, during the Shelf Registration Period, deliver to each Holder of Securities covered
by any Shelf Registration Statement, without charge, as many copies of the Prospectus (including the Preliminary Prospectus) included in such Shelf Registration Statement and any amendment or supplement thereto as such Holder may reasonably request.
The Company consents to the use of the Prospectus or any amendment or supplement thereto by each of the selling Holders of Securities in connection with the offering and sale of the Securities covered by the Prospectus, or any amendment or
supplement thereto, included in the Shelf Registration Statement. 
 (g) The Company shall furnish to each Exchanging Dealer which so
requests, without charge, at least one copy of the Exchange Offer Registration Statement and any post-effective amendment thereto, including, upon written request, all material incorporated by reference therein and all exhibits thereto (including
exhibits incorporated by reference therein). 
 (h) The Company shall promptly deliver to each Initial Purchaser, each Exchanging Dealer and
each other person required to deliver a Prospectus during the Exchange Offer Registration Period, without charge, as many copies of the Prospectus included in such Exchange Offer Registration Statement and any amendment or supplement thereto as any
such person may reasonably request. The Company consents to the use of the Prospectus or any amendment or supplement thereto by any Initial Purchaser, any Exchanging Dealer and any such other person that may be required to deliver a Prospectus
following the Registered Exchange Offer in connection with the offering and sale of the New Securities covered by the Prospectus, or any amendment or supplement thereto, included in the Exchange Offer Registration Statement. 
 (i) Prior to the Registered Exchange Offer or any other offering of Securities pursuant to any Registration Statement, the Company shall arrange, if
necessary, for the qualification of the Securities or the New Securities for sale under the laws of such jurisdictions as any Holder shall reasonably request and shall maintain such qualification in effect so long as required; provided that in no
event shall the Company be obligated to qualify to do business in any jurisdiction where it is not then so qualified or to take any action that would subject it to service of process in suits, other than those arising out of the Initial Placement,
the Registered Exchange Offer or any offering pursuant to a Shelf Registration Statement, in any such jurisdiction where it is not then so subject. 
 (j) The Company shall cooperate with the Holders of Securities to facilitate the timely preparation and delivery of certificates representing New Securities or Securities to be issued or sold pursuant to any Registration Statement free of
any restrictive legends and in such denominations and registered in such names as Holders may request. 
 (k) (i) Upon the occurrence of any
event contemplated by subsections (c)(ii) through (v) above, the Company shall promptly (or within the time period provided for by clause (ii) hereof, if applicable) prepare a post-effective amendment to the applicable Registration
Statement or an amendment or supplement to the related Prospectus or file any other required document so that, as thereafter delivered to Initial Purchasers of the securities included therein, the Prospectus will not include an untrue statement of a
material fact or omit to state any material fact required to be stated therein or necessary to make the 
  

 10 

 statements therein, in the light of the circumstances under which they were made, not misleading. In such circumstances,
the period of effectiveness of the Exchange Offer Registration Statement provided for in Section 2 shall be extended by the number of days from and including the date of the giving of a notice of suspension pursuant to Section 4(c) to and
including the date when the Initial Purchasers, the Holders of the Securities and any known Exchanging Dealer shall have received such amended or supplemented Prospectus pursuant to this Section. 
 (ii) Upon the occurrence or existence of any pending corporate development or any other material event that, in the reasonable judgment of
the Company, makes it appropriate to suspend the availability of a Shelf Registration Statement and the related Prospectus, the Company shall give notice (without notice of the nature or details of such events) to the Holders that the availability
of the Shelf Registration is suspended and, upon actual receipt of any such notice, each Holder agrees to suspend use of the Prospectus and not to sell any Registrable Securities pursuant to the Shelf Registration until such Holder’s receipt of
copies of the supplemented or amended Prospectus provided for in Section 4(k)(i) hereof, or until it is advised in writing by the Company that the Prospectus may be used, and has received copies of any additional or supplemental filings that
are incorporated or deemed incorporated by reference in such Prospectus. The period during which the availability of the Shelf Registration and any Prospectus is suspended (the “Deferral Period”) shall not exceed 45 days in any three-month
period or 90 days in any twelve-month period. 
 (l) Not later than the effective date of any Registration Statement, the Company shall use
its reasonable best efforts to provide a CUSIP number for the Securities or the New Securities, as the case may be, registered under such Registration Statement and provide the Trustee with printed certificates for such Securities or New Securities,
in a form eligible for deposit with The Depository Trust Company. 
 (m) The Company shall comply with all applicable rules and regulations
of the Commission and shall make generally available to its security holders an earnings statement satisfying the provisions of Section 11(a) and Rule 158 of the Act as soon as practicable after the effective date of the applicable Registration
Statement. 
 (n) The Company shall cause the Indenture to be qualified under the Trust Indenture Act in a timely manner. 
 (o) Each Holder of Securities or New Securities to be sold pursuant to a Shelf Registration Statement will be required to be named as a selling
securityholder in the Prospectus and shall deliver a copy of the Prospectus to purchasers in connection with such sale. The Company may require such Holder to furnish to the Company such information regarding the Holder and the distribution of such
Securities as the Company may from time to time reasonably require for inclusion in such Registration Statement, and each such Holder shall furnish reasonably promptly to the Company any additional information required to be disclosed in order to
make the information previously disclosed to the Company by such Holder and included in such Shelf Registration Statement not misleading. The Company may exclude from such Shelf Registration Statement the Securities of any Holder that unreasonably
fails to furnish such information within a reasonable time after receiving such request. 
  

 11 

 (p) In the case of any Shelf Registration Statement, the Company shall use its reasonable best efforts to
enter into customary agreements (including, if requested, an underwriting agreement in customary form) and take all other reasonably appropriate actions in order to expedite or facilitate the registration or the disposition of the Securities, and in
connection therewith, if an underwriting agreement is entered into, cause the same to contain indemnification provisions and procedures no less favorable than those set forth in Section 6 hereof. 
 (q) In the case of any Shelf Registration Statement, the Company shall: 
 (i) make reasonably available for inspection by the Holders of Securities to be registered thereunder, any underwriter participating in
any disposition pursuant to such Registration Statement, and any attorney, accountant or other agent retained by the Holders or any such underwriter all relevant financial and other records and pertinent corporate documents of the Company and its
subsidiaries, subject to receipt by the Company of reasonable confidentiality agreements from such Holders or underwriters; 
 (ii) cause the Company’s officers, directors, employees, accountants and auditors to supply all relevant information reasonably requested by the Holders or any such underwriter, attorney, accountant or agent in connection with any such
Registration Statement as is customary for similar due diligence examinations, subject to receipt by the Company of reasonable confidentiality agreements from such Holders, underwriters, attorneys, accountants or agents; 
 (iii) make such representations and warranties to the Holders of Securities registered thereunder and the underwriters, if any, in form,
substance and scope as are customarily made by issuers to underwriters in primary underwritten offerings and covering matters including, but not limited to, those set forth in the Purchase Agreement; 
 (iv) obtain opinions of counsel to the Company and updates thereof (which counsel and opinions (in form, scope and substance) shall be
reasonably satisfactory to the Managing Underwriters, if any) addressed to each selling Holder and the underwriters, if any, covering such matters as are customarily covered in opinions requested in underwritten offerings and such other matters as
may be reasonably requested by such Holders and underwriters; 
 (v) obtain “comfort” letters and updates thereof
from the independent certified public accountants of the Company (and, if necessary, any other independent certified public accountants of any subsidiary of the Company or of any business acquired by the Company for which financial statements and
financial data are, or are required to be, included in the Registration Statement), addressed to each selling Holder of Securities registered thereunder and the 
  

 12 

 underwriters, if any, in customary form and covering matters of the type customarily covered in
“comfort” letters in connection with primary underwritten offerings; and 
 (vi) deliver such documents and
certificates as may be reasonably requested by the Majority Holders or the Managing Underwriters, if any, including those to evidence compliance with Section 4(k) and with any customary conditions contained in the underwriting agreement or
other agreement entered into by the Company. 
 The actions set forth in clauses (iii), (iv), (v) and (vi) of this paragraph (q) shall be
performed at (A) the effectiveness of such Registration Statement and each post-effective amendment thereto; and (B) each closing under any underwriting or similar agreement as and to the extent required thereunder. 
 (r) In the case of any Exchange Offer Registration Statement, the Company shall, if requested by an Initial Purchaser, or by a broker dealer that holds
Securities that were acquired as a result of market making or other trading activities: 
 (i) make reasonably available for
inspection by the requesting party, and any attorney, accountant or other agent retained by the requesting party, all relevant financial and other records, pertinent corporate documents and properties of the Company and its subsidiaries, subject to
receipt by the Company of reasonable confidentiality agreements from such requesting party; 
 (ii) cause the Company’s
officers, directors, employees, accountants and auditors to supply all relevant information reasonably requested by the requesting party or any such attorney, accountant or agent in connection with any such Registration Statement as is customary for
similar due diligence examinations, subject to receipt by the Company of reasonable confidentiality agreements from such requesting party; 
 (iii) make such representations and warranties to the requesting party, in form, substance and scope as are customarily made by issuers to underwriters in primary underwritten offerings and covering matters including,
but not limited to, those set forth in the Purchase Agreement; 
 (iv) obtain opinions of counsel to the Company and updates
thereof (which counsel and opinions (in form, scope and substance) shall be reasonably satisfactory to the requesting party and its counsel, addressed to the requesting party, covering such matters as are customarily covered in opinions requested in
underwritten offerings and such other matters as may be reasonably requested by the requesting party or its counsel; 
 (v)
obtain “comfort” letters and updates thereof from the independent certified public accountants of the Company (and, if necessary, any other independent certified public accountants of any subsidiary of the Company or of any business
acquired by the Company for which financial statements and 
  

 13 

 financial data are, or are required to be, included in the Registration Statement), addressed to the
requesting party, in customary form and covering matters of the type customarily covered in “comfort” letters in connection with primary underwritten offerings, or if requested by the requesting party or its counsel in lieu of a
“comfort” letter, an agreed-upon procedures letter under Statement on Auditing Standards No. 35, covering matters reasonably requested by the requesting party or its counsel; and 
 (vi) deliver such documents and certificates as may be reasonably requested by the requesting party or its counsel, including those to
evidence compliance with Section 4(k) and with conditions customarily contained in underwriting agreements. 
 The foregoing actions set forth in
clauses (iii), (iv), (v), and (vi) of this Section shall be performed at the close of the Registered Exchange Offer and the effective date of any post-effective amendment to the Exchange Offer Registration Statement. 
 (s) If a Registered Exchange Offer is to be consummated, upon delivery of the Securities by Holders to the Company (or to such other person as directed
by the Company) in exchange for the New Securities, the Company shall mark, or caused to be marked, on the Securities so exchanged that such Securities are being cancelled in exchange for the New Securities. In no event shall such Securities be
marked as paid or otherwise satisfied. 
 (t) The Company shall use its reasonable best efforts if the Securities have been rated prior to
the initial sale of such Securities, to confirm such ratings will apply to the Securities or the New Securities, as the case may be, covered by a Registration Statement at the time the Registration Statement is declared effective. 
 (u) In the event that any Broker-Dealer shall underwrite any Securities or participate as a member of an underwriting syndicate or selling group or
“assist in the distribution” (within the meaning of the NASD Rules) thereof, whether as a Holder of such Securities or as an underwriter, a placement or sales agent or a broker or dealer in respect thereof, or otherwise, the Company shall
assist such Broker-Dealer in complying with the NASD Rules. 
 (v) The Company shall use its reasonable best efforts to take all other steps
necessary to effect the registration of the Securities or the New Securities, as the case may be, covered by a Registration Statement. 
 5.
Registration Expenses. The Company shall bear all expenses incurred in connection with the performance of its obligations under Sections 2, 3 and 4 hereof and, in the event of any Shelf Registration Statement, will reimburse the Holders for
the reasonable fees and disbursements of one firm or counsel (which shall initially be Mayer, Brown, Rowe & Maw LLP, but which may be another nationally recognized law firm experienced in securities matters designated by the Majority
Holders) to act as counsel for the Holders in connection therewith, and, in the case of any Exchange Offer Registration Statement, will reimburse the Initial Purchasers for the reasonable fees and disbursements of counsel acting in connection
therewith. 
  

 14 

 6. Indemnification and Contribution. (a) The Company agrees to indemnify and hold harmless each
Holder of Securities or New Securities, as the case may be, covered by any Registration Statement, each Initial Purchaser and, with respect to any Prospectus delivery as contemplated in Section 4(h) hereof, each Exchanging Dealer, the directors,
officers, employees, Affiliates and agents of each such Holder, Initial Purchaser or Exchanging Dealer and each person who controls any such Holder, Initial Purchaser or Exchanging Dealer within the meaning of either the Act or the Exchange Act
against any and all losses, claims, damages or liabilities, joint or several, to which they or any of them may become subject under the Act, the Exchange Act or other U.S. federal or state statutory law or regulation, at common law or otherwise,
insofar as such losses, claims, damages or liabilities or actions in respect thereof arise out of or are based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement as originally filed or in
any amendment thereof, or in any preliminary Prospectus or the Prospectus, or in any amendment thereof or supplement thereto, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated
therein or necessary to make the statements therein (in the case of any preliminary Prospectus or the Prospectus, in the light of the circumstances under which they were made) not misleading, and agrees to reimburse each such indemnified party, as
incurred, for any legal or other expenses reasonably incurred by it in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such
case to the extent that any such loss, claim, damage or liability arises out of or is based upon any such untrue statement or alleged untrue statement or omission or alleged omission made therein in reliance upon and in conformity with written
information furnished to the Company by or on behalf of the party claiming indemnification specifically for inclusion therein. This indemnity agreement shall be in addition to any liability that the Company may otherwise have. 
 The Company also agrees to indemnify as provided in this Section 6(a) or contribute as provided in Section 6(d) hereof to Losses of each
underwriter, if any, of Securities or New Securities, as the case may be, registered under a Shelf Registration Statement, their directors, officers, employees, Affiliates or agents and each person who controls such underwriter on substantially the
same basis as that of the indemnification of the Initial Purchasers and the selling Holders provided in this Section 6(a) and shall, if requested by any Holder, enter into an underwriting agreement reflecting such agreement, as provided in
Section 4(p) hereof. 
 (b) Each Holder of securities covered by a Registration Statement (including each Initial Purchaser that is a
Holder, in such capacity) severally and not jointly agrees to indemnify and hold harmless the Company, each of its directors, each of its officers and each person who controls the Company within the meaning of either the Act or the Exchange Act, to
the same extent as the foregoing indemnity from the Company to each such Holder, but only with reference to written information relating to such Holder furnished to the Company by or on behalf of such Holder specifically for inclusion in the
documents referred to in the foregoing indemnity. This indemnity agreement will be in addition to any liability that any such Holder may otherwise have. 
 (c) Promptly after receipt by an indemnified party under this Section 6 of notice of the commencement of any action, such indemnified party will, if a claim in respect thereof is to be made against the
indemnifying party under this Section 6, notify the 
  

 15 

 indemnifying party in writing of the commencement thereof; but the failure so to notify the indemnifying party
(i) will not relieve it from liability under paragraph (a) or (b) above unless and to the extent it did not otherwise learn of such action and such failure results in the forfeiture by the indemnifying party of substantial rights and
defenses and (ii) will not, in any event, relieve the indemnifying party from any obligations to any indemnified party other than the indemnification obligation provided in paragraph (a) or (b) above. The indemnifying party shall be
entitled to appoint counsel (including local counsel) of the indemnifying party’s choice at the indemnifying party’s expense to represent the indemnified party in any action for which indemnification is sought (in which case the
indemnifying party shall not thereafter be responsible for the fees and expenses of any separate counsel, other than local counsel if not appointed by the indemnifying party, retained by the indemnified party or parties except as set forth below);
provided, however, that such counsel shall be satisfactory to the indemnified party. Notwithstanding the indemnifying party’s election to appoint counsel (including local counsel) to represent the indemnified party in an action,
the indemnified party shall have the right to employ separate counsel (including local counsel), and the indemnifying party shall bear the reasonable fees, costs and expenses of such separate counsel if (i) the use of counsel chosen by the
indemnifying party to represent the indemnified party would present such counsel with a conflict of interest; (ii) the actual or potential defendants in, or targets of, any such action include both the indemnified party and the indemnifying
party and the indemnified party shall have reasonably concluded that there may be legal defenses available to it and/or other indemnified parties that are different from or additional to those available to the indemnifying party; (iii) the
indemnifying party shall not have employed counsel satisfactory to the indemnified party to represent the indemnified party within a reasonable time after notice of the institution of such action; or (iv) the indemnifying party shall authorize
the indemnified party to employ separate counsel at the expense of the indemnifying party. An indemnifying party will not, without the prior written consent of the indemnified parties, settle or compromise or consent to the entry of any judgment
with respect to any pending or threatened claim, action, suit or proceeding in respect of which indemnification or contribution may be sought hereunder (whether or not the indemnified parties are actual or potential parties to such claim or action)
unless such settlement, compromise or consent includes an unconditional release of each indemnified party from all liability arising out of such claim, action, suit or proceeding. 
 (d) In the event that the indemnity provided in paragraph (a) or (b) of this Section 6 is unavailable to or insufficient to hold harmless
an indemnified party for any reason, then each applicable indemnifying party severally agrees to contribute to the aggregate losses, claims, damages and liabilities (including legal or other expenses reasonably incurred in connection with
investigating or defending any loss, claim, liability, damage or action) (collectively “Losses”) to which such indemnified party may be subject in such proportion as is appropriate to reflect the relative benefits received by such
indemnifying party, on the one hand, and such indemnified party, on the other hand, from the Registration Statement which resulted in such Losses; provided, however, that in no case shall any Initial Purchaser be responsible for any
amount in excess of the purchase discount or commission applicable to such Security, or in the case of a New Security, applicable to the Security that was exchangeable into such New Security, as set forth in the Final Memorandum, nor shall any
underwriter be responsible for any amount in excess of the underwriting discount or commission applicable to the securities purchased by such underwriter under the Registration Statement which resulted in such Losses. If the allocation provided by
the immediately preceding sentence is unavailable for any reason, 
  

 16 

 the indemnifying party and the indemnified party shall contribute in such proportion as is appropriate to reflect not
only such relative benefits but also the relative fault of such indemnifying party, on the one hand, and such indemnified party, on the other hand, in connection with the statements or omissions which resulted in such Losses as well as any other
relevant equitable considerations. Benefits received by the Company shall be deemed to be equal to the total net proceeds from the Initial Placement (before deducting expenses) as set forth in the Final Memorandum. Benefits received by the Initial
Purchasers shall be deemed to be equal to the total purchase discounts and commissions as set forth on the cover page of the Final Memorandum, and benefits received by any other Holders shall be deemed to be equal to the value of receiving
Securities or New Securities, as applicable, registered under the Act. Benefits received by any underwriter shall be deemed to be equal to the total underwriting discounts and commissions, as set forth on the cover page of the Prospectus forming a
part of the Registration Statement which resulted in such Losses. Relative fault shall be determined by reference to, among other things, whether any untrue or any alleged untrue statement of a material fact or omission or alleged omission to state
a material fact relates to information provided by the indemnifying party, on the one hand, or by the indemnified party, on the other hand, the intent of the parties and their relative knowledge, access to information and opportunity to correct or
prevent such untrue statement or omission. The parties agree that it would not be just and equitable if contribution were determined by pro rata allocation (even if the Holders were treated as one entity for such purpose) or any other method of
allocation which does not take account of the equitable considerations referred to above. Notwithstanding the provisions of this paragraph (d), no person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the
Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. For purposes of this Section 6, each person who controls a Holder within the meaning of either the Act or the Exchange Act and each
director, officer, employee and agent of such Holder shall have the same rights to contribution as such Holder, and each person who controls the Company within the meaning of either the Act or the Exchange Act, each officer and each director of the
Company shall have the same rights to contribution as the Company, subject in each case to the applicable terms and conditions of this paragraph (d). 
 (e) The provisions of this Section will remain in full force and effect, regardless of any investigation made by or on behalf of any Holder or the Company or any of the indemnified persons referred to in this
Section 6, and will survive the sale by a Holder of securities covered by a Registration Statement. 
 7. Underwritten
Registrations. (a) If any of the Securities or New Securities, as the case may be, covered by any Shelf Registration Statement are to be sold in an underwritten offering, the Managing Underwriters shall be selected by the Majority Holders,
subject to the reasonable approval of the Company. 
 (b) No Holder may participate in any underwritten offering pursuant to any Shelf
Registration Statement, unless such Holder (i) agrees to sell such Holder’s Securities or New Securities, as the case may be, on the basis reasonably provided in any underwriting arrangements approved by the persons entitled hereunder to
approve such arrangements; and (ii) completes and executes all questionnaires, powers of attorney, indemnities, underwriting agreements and other documents reasonably required under the terms of such underwriting arrangements. 
  

 17 

 8. Registration Defaults. If any of the following events shall occur, then the Company shall pay
liquidated damages (the “Registration Default Damages”) to the Holders of Securities in respect of the Securities as follows: 
 (a)
if any Registration Statement required by this Agreement is not filed with the Commission on or prior to the date specified for such filing in this Agreement, then Registration Default Damages shall accrue on the Registrable Securities at a rate of
..25% per annum for the first 60 days from and including such specified date and .50% per annum thereafter; or 
 (b) if any
Registration Statement required by this Agreement is not declared effective by the Commission on or prior to the date by which reasonable best efforts are to be used to cause such effectiveness under this Agreement, then commencing on the day after
such specified date, Registration Default Damages shall accrue on the Registrable Securities at a rate of .25% per annum for the first 60 days from and including such specified date and .50% per annum thereafter; or 
 (c) if any Registration Statement required by this Agreement has been declared effective but ceases to be effective at any time at which it is required
to be effective under this Agreement, except as a result of the exercise by the Company of its right to suspend use of a Shelf Registration Statement and the released Prospectus pursuant to Section 4(k)(ii) hereof, then commencing on the day
the Registration Statement ceases to be effective, Registration Default Damages shall accrue on the Registrable Securities at a rate of .25% per annum for the first 60 days from and including such date on which the Registration Statement ceases
to be effective and .50% per annum thereafter; 
 provided, however, that (1) upon the filing of the Registration Statement (in the
case of paragraph (a) above), (2) upon the effectiveness of the Registration Statement (in the case of paragraph (b) above), (3) upon the effectiveness of the Registration Statement which had ceased to remain effective (in the
case of paragraph (c) above), or (4) upon the Securities or New Securities becoming freely tradable under the Securities Act, Registration Default Damages shall cease to accrue. 
 9. No Inconsistent Agreements. The Company has not entered into, and agrees not to enter into, any agreement with respect to its securities that
is inconsistent with the rights granted to the Holders herein or that otherwise conflicts with the provisions hereof. 
 10. Amendments
and Waivers. The provisions of this Agreement may not be amended, qualified, modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given, unless the Company has obtained the written consent of the
Majority Holders; provided that, with respect to any matter that directly or indirectly affects the rights of any Initial Purchaser hereunder, the Company shall obtain the written consent of each such Initial Purchaser against which such
amendment, qualification, supplement, waiver or consent is to be effective; provided, further, that no amendment, qualification, supplement, waiver or consent with respect to Section 8 hereof shall be effective as against any Holder of
Registered Securities unless consented to in writing by such Holder; and provided, further, that the provisions of this Article 10 may not be amended, qualified, modified or supplemented, and 
  

 18 

 waivers or consents to departures from the provisions hereof may not be given, unless the Company has obtained the
written consent of the Initial Purchasers and each Holder. Notwithstanding the foregoing (except the foregoing provisos), a waiver or consent to departure from the provisions hereof with respect to a matter that relates exclusively to the rights of
Holders whose Securities or New Securities, as the case may be, are being sold pursuant to a Registration Statement and that does not directly or indirectly affect the rights of other Holders may be given by the Majority Holders, determined on the
basis of Securities or New Securities, as the case may be, being sold rather than registered under such Registration Statement. 
 11.
Notices. All notices and other communications provided for or permitted hereunder shall be made in writing by hand-delivery, first-class mail, telex, telecopier or air courier guaranteeing overnight delivery: 
 (a) if to a Holder, at the most current address given by such holder to the Company in accordance with the provisions of this Section 11, which
address initially is, with respect to each Holder, the address of such Holder maintained by the Registrar under the Indenture; 
 (b) if to
the Representatives, initially at the address or addresses set forth in the Purchase Agreement; and 
 (c) if to the Company, initially at
its address set forth in the Purchase Agreement. 
 All such notices and communications shall be deemed to have been duly given when
received. 
 The Initial Purchasers or the Company by notice to the other parties may designate additional or different addresses for
subsequent notices or communications. 
 12. Remedies. Each Holder, in addition to being entitled to exercise all rights provided to
it herein, in the Indenture or in the Purchase Agreement or granted by law, including recovery of liquidated or other damages, will be entitled to specific performance of its rights under this Agreement. The Company agrees that monetary
damages would not be adequate compensation for any loss incurred by reason of a breach by it of the provisions of this Agreement and hereby agrees to waive in any action for specific performance the defense that a remedy at law would be adequate.

 13. Successors. This Agreement shall inure to the benefit of and be binding upon the parties hereto, their respective successors
and assigns, including, without the need for an express assignment or any consent by the Company thereto, subsequent Holders of Securities and the New Securities, and the indemnified persons referred to in Section 6 hereof. The Company hereby agrees
to extend the benefits of this Agreement to any Holder of Securities and the New Securities, and any such Holder may specifically enforce the provisions of this Agreement as if an original party hereto. 
  

 19 

 14. Counterparts. This Agreement may be signed in one or more counterparts, each of which shall
constitute an original and all of which together shall constitute one and the same agreement. 
 15. Headings. The section headings
used herein are for convenience only and shall not affect the construction hereof. 
 16. Applicable Law. This Agreement shall be
governed by and construed in accordance with the laws of the State of New York applicable to contracts made and to be performed in the State of New York. The parties hereto each hereby waive any right to trial by jury in any action, proceeding or
counterclaim arising out of or relating to this Agreement. 
 17. Severability. In the event that any one of more of the provisions
contained herein, or the application thereof in any circumstances, is held invalid, illegal or unenforceable in any respect for any reason, the validity, legality and enforceability of any such provision in every other respect and of the remaining
provisions hereof shall not be in any way impaired or affected thereby, it being intended that all of the rights and privileges of the parties shall be enforceable to the fullest extent permitted by law. 
 18. Securities Held by the Company, etc. Whenever the consent or approval of Holders of a specified percentage of principal amount of Securities
or New Securities is required hereunder, Securities or New Securities, as applicable, held by the Company or its Affiliates (other than subsequent Holders of Securities or New Securities if such subsequent Holders are deemed to be Affiliates solely
by reason of their holdings of such Securities or New Securities) shall not be counted in determining whether such consent or approval was given by the Holders of such required percentage. 
  

 20 

 If the foregoing is in accordance with your understanding of our agreement, please sign and return to us
the enclosed duplicate hereof, whereupon this letter and your acceptance shall represent a binding agreement between the Company and the several Initial Purchasers. 
  

			
	Very truly yours,
	
	USG CORPORATION
		
	By:	 	 /s/ Karen L. Leets

	Name:	 	Karen L. Leets
	Title:	 	Vice President and Treasurer

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

			
	CITIGROUP GLOBAL MARKETS INC.
	BANC OF AMERICA SECURITIES LLC
	
	BY: CITIGROUP GLOBAL MARKETS INC.
		
	By	 	 /s/ Brian D. Bednarski

	Name:	 	Brian D. Bednarski
	Title:	 	Director

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

 A-1 

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

 B-1 

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

 C-1 

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

			
	Name:	 	  

	Address:	 	  

		 	  

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

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