Document:

EX-10.1

Exhibit 10.1

July 9, 2009

Martin J. Wygod

c/o HLTH Corporation

669 River Drive

Elmwood Park NJ 07407

Dear Marty:

Reference is made to (i) the Amended and Restated Employment Agreement between you and HLTH
Corporation (“HLTH”) dated August 3, 2005, as previously amended on each of February 1, 2006,
December 1, 2008 and December 29, 2008 (as so amended, the “Employment Agreement”) and (ii) the
Agreement and Plan of Merger dated June 17, 2009 between WebMD Health Corp. (“WebMD”) and HLTH.

Section 4(f) of the Employment Agreement currently contemplates that your employment would
terminate and you would serve as a Non-Executive Chairman of the Board of the surviving company
upon consummation of the transactions contemplated by the Merger Agreement. HLTH and WebMD,
however, believe that it is in the best interests of the surviving company and its stockholders
that you continue to carry out the duties and responsibilities of an executive officer and that you
continue as an employee following the closing. You have agreed to continue to serve in the
capacity of Executive Chairman of the Board following the consummation of the merger, subject to
the terms of this Amendment.

Accordingly, the Employment Agreement is hereby amended as follows:

	1.	 	Amendment to Base Salary. Section 2.1 of the Employment Agreement is hereby amended
by inserting the following sentence immediately after the first sentence of such section:
“Upon consummation of the Merger (as defined in Section 4(f) below), Executive’s base salary
shall be $120,000 per annum.”

	2.	 	Amendment to Section 4(f). Section 4(f) of the Employment Agreement is hereby
amended in its entirety to read as follows:
	 
	 	 	“(f) Upon the consummation of the transactions (the “Merger”) contemplated by the
Agreement and Plan of Merger dated June 17, 2009 between WebMD Health and the Company (the
“Merger Agreement”), the Executive shall continue as an employee, executive officer and
Chairman of the Board of WebMD Health, as the surviving company in the Merger.
Notwithstanding anything to the contrary contained in this Agreement, the Executive will be
entitled to the payments and other benefits specified in Sections 5.3(a)(i), (ii) and (iii)
below in accordance with, and payable as provided in, the

 

 

	 	 	terms of such subsections, subject to Section 5.8 and the provisos at the end of Section
5.3(a), at such time as the Executive’s employment terminates for any reason or no reason,
whether by WebMD Health or the Executive. The payments under Section 5.3(a)(i) and (ii) will
be calculated as if the Executive’s employment was terminated without Cause immediately prior
to the consummation of the Merger. For the sake of clarity, (i) the annual base salary for
purposes of calculating the severance benefit in Section 5.3(a)(i) is $975,000 and (ii)
assuming that the consummation of the Merger occurs in 2009, the Applicable Bonus Amount (as
defined in Section 5.3(a)(ii)) shall be $933,333.34 (the average of the annual bonuses for
2006, 2007 and 2008). During the period in which the Executive is serving as Chairman, his
equity compensation will remain outstanding and continue to vest and the provisions of
Sections 4 and 5 will continue to apply at such time as his employment terminates and/or the
occurrence of a Change of Control.”
	 
	3.	 	No Consulting Services. Notwithstanding anything to the contrary contained in the
Employment Agreement, you shall not be required to perform any consulting services to HLTH or
WebMD in the event of any termination of your employment. Accordingly, the second and third
sentences of Section 5.3(a) are hereby deleted and replaced with the following:
	 
	 	 	“If the Company terminates the Employment Period without Cause, the Company shall have the
following obligations to Executive during the period commencing on the date of termination and
ending on the third anniversary thereof (the “Payment Period”).
	 
	 	 	In addition, all references to the “Consulting Period” or the “Applicable Period” shall be
deemed references to the “Payment Period” and Section 5.3(c) is hereby deleted in its
entirety.
	 
	4.	 	Amendment to Section 5.4(c). The last sentence of Section 5.4(c) is hereby amended
by deleting the last word “Code” and replacing it with “Internal Revenue Code of 1986, as
amended (the “Code”)”
	 
	5.	 	Effect on the Employment Agreement. Except as set forth herein, the Employment
Agreement remains in full force and effect. All references to the Employment Agreement shall
be deemed references to the Employment Agreement as amended hereby.

-2-

 

IN WITNESS WHEREOF, the parties have executed this Amendment as of July 9, 2009.

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	HLTH CORPORATION	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:
	 	      /s/ Lewis H. Leicher
 

Lewis H. Leicher
	 	 
	 

	 	 	 	 	 	 	 	Senior Vice President	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	     /s/ Martin J. Wygod
 

	 	 
	 

	 	 	 	 	 	 	 	Martin J. Wygod	 	 
	ACKNOWLEDGED AND	 	 	 	 	 	 	 	 
	AGREED
	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	WEBMD HEALTH CORP.	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	      /s/ Douglas W. Wamsley	 	 	 	 	 	 	 	 
	 

	 	 

Douglas W. Wamsley
	 	 	 	 	 	 	 	 
	 

	 	Executive Vice President	 	 	 	 	 	 	 	 

-3-exv4w1

Exhibit 4.1

EPICEPT CORPORATION

and

                                        , as Trustee

Indenture

Dated as of                     , 20___

Providing for Issuance of Convertible Debt Securities

 

 

	 	 	 	 	 	 	 
	ARTICLE 1

	Definitions And Other Provisions Of General Application

	 
	 	 	 	 	 	 
	Section 1.01.
	 	Definitions	 	 	1	 
	Section 1.02.
	 	Officers’ Certificates and Opinions	 	 	13	 
	Section 1.03.
	 	Form of Documents Delivered to Trustee	 	 	14	 
	Section 1.04.
	 	Acts of Holders	 	 	14	 
	Section 1.05.
	 	Notices, etc., to Trustee and Company	 	 	15	 
	Section 1.06.
	 	Notice To Holders; Waiver	 	 	15	 
	Section 1.07.
	 	Conflict with Trust Indenture Act	 	 	16	 
	Section 1.08.
	 	Effect of Headings and Table of Contents	 	 	16	 
	Section 1.09.
	 	Successors and Assigns	 	 	16	 
	Section 1.10.
	 	Separability Clause	 	 	16	 
	Section 1.11.
	 	Benefits Of Indenture	 	 	16	 
	Section 1.12.
	 	Governing Law	 	 	16	 
	Section 1.13.
	 	Counterparts	 	 	16	 
	Section 1.14.
	 	Judgment Currency	 	 	16	 
	Section 1.15.
	 	Legal Holidays	 	 	17	 
	Section 1.16.
	 	Waiver of Jury Trial	 	 	17	 
	Section 1.17.
	 	Force Majeure	 	 	17	 
	Section 1.18.
	 	Facsimile Instructions	 	 	17	 
	 
	 	 	 	 	 	 
	ARTICLE 2

	The Securities

	 
	 	 	 	 	 	 
	Section 2.01.
	 	Form Generally	 	 	18	 
	Section 2.02.
	 	Forms of Securities	 	 	18	 
	Section 2.03.
	 	Securities in Global Form	 	 	19	 
	Section 2.04.
	 	Form of Trustee’s Certificate of Authentication	 	 	19	 
	Section 2.05.
	 	Title and Terms	 	 	19	 
	Section 2.06.
	 	Denominations	 	 	23	 
	Section 2.07.
	 	Execution, Authentication, Delivery and Dating	 	 	23	 
	Section 2.08.
	 	Global Securities	 	 	24	 
	Section 2.09.
	 	Registration, Registration of Transfer and Exchange	 	 	25	 
	Section 2.10.
	 	Mutilated, Destroyed, Lost or Stolen Securities	 	 	26	 
	Section 2.11.
	 	Payment of Interest; Interest Rights Preserved	 	 	26	 
	Section 2.12.
	 	Persons Deemed Owners	 	 	28	 
	Section 2.13.
	 	Cancellation	 	 	28	 
	Section 2.14.
	 	Computation of Interest	 	 	28	 
	Section 2.15.
	 	CUSIP Numbers	 	 	28	 
	 
	 	 	 	 	 	 
	ARTICLE 3

	Satisfaction and Discharge

	 
	 	 	 	 	 	 
	Section 3.01.
	 	Satisfaction and Discharge of Indenture	 	 	28	 
	Section 3.02.
	 	Application of Trust Money; Excess Funds	 	 	30	 
	Section 3.03.
	 	Paying Agent to Repay Moneys Held	 	 	30	 
	Section 3.04.
	 	Return of Unclaimed Amounts	 	 	30	 

 

 

	 	 	 	 	 	 	 
	ARTICLE 4

	Remedies

	 
	 	 	 	 	 	 
	Section 4.01.
	 	Events of Default	 	 	31	 
	Section 4.02.
	 	Acceleration of Maturity; Rescission, and Annulment	 	 	32	 
	Section 4.03.
	 	Collection of Indebtedness and Suits for Enforcement by Trustee	 	 	33	 
	Section 4.04.
	 	Trustee May File Proofs of Claim	 	 	34	 
	Section 4.05.
	 	Trustee May Enforce Claims Without Possession of Securities	 	 	34	 
	Section 4.06.
	 	Application of Money Collected	 	 	34	 
	Section 4.07.
	 	Limitation on Suits	 	 	35	 
	Section 4.08.
	 	Unconditional Right of Holders to Receive Principal, Premium, and Interest and to Convert	 	 	35	 
	Section 4.09.
	 	Restoration of Rights and Remedies	 	 	35	 
	Section 4.10.
	 	Rights and Remedies Cumulative	 	 	36	 
	Section 4.11.
	 	Delay or Omission Not Waiver	 	 	36	 
	Section 4.12.
	 	Control by Holders	 	 	36	 
	Section 4.13.
	 	Waiver of Past Defaults	 	 	36	 
	Section 4.14.
	 	Undertaking for Costs	 	 	37	 
	Section 4.15.
	 	Waiver of Stay or Extension Laws	 	 	37	 
	 
	 	 	 	 	 	 
	ARTICLE 5

	The Trustee

	 
	 	 	 	 	 	 
	Section 5.01.
	 	Certain Duties and Responsibilities of Trustee	 	 	37	 
	Section 5.02.
	 	Notice of Defaults	 	 	38	 
	Section 5.03.
	 	Certain Rights of Trustee	 	 	38	 
	Section 5.04.
	 	Not Responsible for Recitals or Issuance of Securities	 	 	40	 
	Section 5.05.
	 	May Hold Securities	 	 	40	 
	Section 5.06.
	 	Money Held in Trust	 	 	40	 
	Section 5.07.
	 	Compensation and Reimbursement	 	 	40	 
	Section 5.08.
	 	Disqualification; Conflicting Interests	 	 	41	 
	Section 5.09.
	 	Corporate Trustee Required; Eligibility	 	 	41	 
	Section 5.10.
	 	Resignation and Removal; Appointment of Successor	 	 	41	 
	Section 5.11.
	 	Acceptance of Appointment by Successor	 	 	43	 
	Section 5.12.
	 	Merger, Conversion, Consolidation or Succession to Business	 	 	43	 
	Section 5.13.
	 	Preferential Collection of Claims Against Company	 	 	43	 
	Section 5.14.
	 	Appointment of Authenticating Agent	 	 	43	 
	 
	 	 	 	 	 	 
	ARTICLE 6

	Consolidation, Merger, Conveyance, Transfer Or Lease

	 
	 	 	 	 	 	 
	Section 6.01.
	 	Company May Consolidate, Etc., Only on Certain Terms	 	 	45	 
	Section 6.02.
	 	Successor Substituted	 	 	45	 

 

 

	 	 	 	 	 	 	 
	ARTICLE 7

	Supplemental Indentures

	 
	 	 	 	 	 	 
	Section 7.01.
	 	Supplemental Indentures Without Consent of Holders	 	 	46	 
	Section 7.02.
	 	Supplemental Indentures With Consent of Holders	 	 	47	 
	Section 7.03.
	 	Execution of Supplemental Indentures	 	 	48	 
	Section 7.04.
	 	Effect of Supplemental Indentures	 	 	48	 
	Section 7.05.
	 	Conformity With Trust Indenture Act	 	 	48	 
	Section 7.06.
	 	Reference in Securities to Supplemental Indentures	 	 	48	 
	 
	 	 	 	 	 	 
	ARTICLE 8

	Covenants

	 
	 	 	 	 	 	 
	Section 8.01.
	 	Payment of Principal, Premium and Interest	 	 	48	 
	Section 8.02.
	 	Maintenance of Office or Agency	 	 	49	 
	Section 8.03.
	 	Money or Security Payments to Be Held in Trust	 	 	49	 
	Section 8.04.
	 	Certificate to Trustee	 	 	50	 
	Section 8.05.
	 	Corporate Existence	 	 	50	 
	 
	 	 	 	 	 	 
	ARTICLE 9

	Make-Whole Provision

	 
	 	 	 	 	 	 
	Section 9.01.
	 	Make-Whole Provision	 	 	50	 
	 
	 	 	 	 	 	 
	ARTICLE 10

	Conversion of Securities

	 
	 	 	 	 	 	 
	Section 10.01.
	 	Conversion Privilege and Conversion Rate	 	 	50	 
	Section 10.02.
	 	Exercise of Conversion Privilege	 	 	51	 
	Section 10.03.
	 	Fractions of Shares	 	 	52	 
	Section 10.04.
	 	Adjustment of Conversion Rate	 	 	52	 
	Section 10.05.
	 	Notice of Adjustments of Conversion Rate	 	 	57	 
	Section 10.06.
	 	Notice of Certain Corporate Action	 	 	58	 
	Section 10.07.
	 	Company to Reserve Common Stock	 	 	59	 
	Section 10.08.
	 	Taxes on Conversions	 	 	59	 
	Section 10.09.
	 	Covenant as to Common Stock	 	 	59	 
	Section 10.10.
	 	Cancellation of Converted Securities	 	 	59	 
	Section 10.11.
	 	Provision in Case of Consolidation, Merger or Sale of Assets	 	 	59	 
	Section 10.12.
	 	Responsibility of Trustee for Conversion Provisions	 	 	60	 
	Section 10.13.
	 	Automatic Conversion	 	 	60	 
	Section 10.14.
	 	Compensation for Buy-In on Failure to Timely Deliver Certificates Upon Conversion	 	 	62	 
	 
	 	 	 	 	 	 
	ARTICLE 11

	Holders Lists And Reports By Trustee And Company; Non-Recourse

	 
	 	 	 	 	 	 
	Section 11.01.
	 	Company to Furnish Trustee Names and Addresses of Holders	 	 	63	 
	Section 11.02.
	 	Preservation of Information	 	 	63	 
	Section 11.03.
	 	No Recourse Against Others	 	 	63	 
	Section 11.04.
	 	Reports by Trustee	 	 	64	 

 

 

	 	 	 	 	 	 	 
	Section 11.05.
	 	Section 13 or 15(d) Reports by Company	 	 	64	 
	 
	 	 	 	 	 	 
	ARTICLE 12

	Repurchase Of Securities At The Option Of The Holder Upon A Change In Control

	 
	 	 	 	 	 	 
	Section 12.01.
	 	Right to Require Repurchase	 	 	64	 
	Section 12.02.
	 	Notices; Method of Exercising Repurchase Right, Etc	 	 	65	 
	 
	 	 	 	 	 	 
	ARTICLE 13

	Subordination

	 
	 	 	 	 	 	 
	Section 13.01.
	 	Agreement to Subordinate	 	 	67	 
	Section 13.02.
	 	Liquidation, Dissolution, Bankruptcy	 	 	67	 
	Section 13.03.
	 	Default on Senior Debt	 	 	68	 
	Section 13.04.
	 	Acceleration of Payment of Securities	 	 	68	 
	Section 13.05.
	 	When Distribution Must Be Paid Over	 	 	69	 
	Section 13.06.
	 	Subrogation	 	 	69	 
	Section 13.07.
	 	Relative Rights	 	 	69	 
	Section 13.08.
	 	Subordination May Not Be Impaired by Company	 	 	69	 
	Section 13.09.
	 	Rights of Trustee and Paying Agent	 	 	69	 
	Section 13.10.
	 	Distribution or Notice to Representative	 	 	70	 
	Section 13.11.
	 	Article 13 Not to Prevent Events
of Default or Limit Right to Accelerate	 	 	70	 
	Section 13.12.
	 	Trust Moneys and Make-Whole Payment Not Subordinated	 	 	70	 
	Section 13.13.
	 	Trustee Entitled to Rely	 	 	70	 
	Section 13.14.
	 	Trustee’s Compensation Not Prejudiced	 	 	70	 
	Section 13.15.
	 	Trustee to Effectuate Subordination	 	 	70	 
	Section 13.16.
	 	Trustee Not Fiduciary for Holders of Senior Debt	 	 	71	 
	Section 13.17.
	 	Reliance by Holders of Senior Debt on Subordination Provisions	 	 	71	 

 

 

     THIS INDENTURE, between EpiCept Corporation, a Delaware corporation (hereinafter called the
“Company”), and                                         , as trustee (hereinafter called the “Trustee”), is made and
entered into as of this ___ day of                     , 20       .

Recitals of the Company

     The Company has duly authorized the execution and delivery of this Indenture to provide for
the issuance of its unsecured debentures, notes, bonds, and other evidences of indebtedness, to be
issued in one or more fully registered series.

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

Agreements of the Parties

     To set forth or to provide for the establishment of the terms and conditions upon which the
Securities (as hereinafter defined) are and are to be authenticated, issued, and delivered, and in
consideration of the premises thereof, and the purchase of Securities by the Holders (as
hereinafter defined) thereof, it is mutually covenanted and agreed as follows, for the equal and
proportionate benefit of all Holders from time to time of the Securities or of any series thereof,
as the case may be:

ARTICLE 1

Definitions And Other Provisions Of General Application

     Section 1.01. Definitions. For all purposes of this Indenture and of any indenture
supplemental hereto, except as otherwise expressly provided or unless the context otherwise
requires:

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

     (b) all other terms used herein which are defined in the Trust Indenture Act (as hereinafter
defined), either directly or by reference therein, have the meanings assigned to them therein;

     (c) all accounting terms not otherwise defined herein have the meanings assigned to them in
accordance with generally accepted accounting principles
(“GAAP”); and

     (d) all
references in this instrument to designated
“Articles”, “Sections” and other
subdivisions are to the designated Articles, Sections and other subdivisions of this instrument as
originally executed. The words “herein”, “hereof”, and “hereunder” and other words of similar
import refer to this Indenture as a whole and not to any particular Article, Section, or other
subdivision.

     “Act”, when used with respect to any Holder of a Security, has the meaning specified in
Section 1.04.

 

 

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

     “Agent Members” means a member of, or a participant in, the Depositary.

     “Aggregate Current Market Price” has the meaning specified in Section 10.04(e).

     “American Depository Shares” means U.S. dollar denominated forms of equity ownership held in a
deposit in a custodian bank and evidenced by physical certificates of ownership (“American
Depositary Receipts”) issued by a U.S. bank.

     “Applicable Procedures” means, with respect to any transfer or transaction involving a Global
Security or beneficial interest therein, the rules and procedures of the Depositary for such
Security, to the extent applicable to such transaction and as in effect from time to time.

     “Authenticating Agent” means any Person authorized by the Trustee to authenticate Securities
of one or more series under Section 5.14.

     “Authentication Order” has the meaning specified in Section 2.07.

     “Automatic Conversion” has the meaning specified in Section 10.13(a).

     “Automatic Conversion Date” has the meaning specified in Section 10.13(c).

     “Automatic Conversion Notice” has the meaning specified in Section 10.13(c).

     “Board of Directors” means (i) the board of directors of the Company, (ii) any duly authorized
committee of that board, or (iii) any officer, director or authorized representative of the
Company, in each case duly authorized by such Board to act hereunder.

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

     “Buy-in” has the meaning specified in Section 10.14.

     “Capital Stock” means any class of authorized capital stock of the Company, whether common or
preferred stock, as specified from time to time in the Company’s certificate of incorporation, as
amended and restated, and as in effect from time to time.

     “Cash Equivalents” means (1) securities issued or directly and fully guaranteed or insured by
the United States government or any agency or instrumentality thereof (provided that the full faith
and credit of the United States is pledged in support thereof) having maturities of not more than
six months from the date of acquisition, (2) certificates of deposit and eurodollar time deposits
with maturities of six months or less from the date of acquisition, bankers’ acceptances with
maturities not exceeding six months and overnight bank deposits, in each case with any

2

 

domestic commercial bank having capital and surplus in excess of $500 million and a Thompson
Bank Watch Rating of “B” or better, (3) repurchase obligations with a term of not more than seven
(7) days for underlying securities of the types described in clause (1) above entered into with any
financial institution meeting the qualifications specified in clause (2) above, (4) commercial
paper having the highest rating obtainable from Moody’s Investors Service, Inc. or Standard &
Poor’s Ratings Services and in each case maturing within six months after the date of acquisition
and (5) money market funds at least ninety-five percent (95%) of the assets of which constitute
Cash Equivalents of the kinds described in clauses (1)-(4) of this definition.

     “Chairman” means the Company’s Chairman of the Board.

     “Change in Control” means the occurrence at any time, after the original issuance of the
Securities, of any of the following events:

     (1) any Person (including any syndicate or group that would be deemed to be a “person” under
Section 13(d)(3) of the Exchange Act) acquires beneficial ownership, directly or indirectly,
through a purchase, merger or other acquisition transaction or series of transactions, of shares of
Capital Stock of the Company entitling such Person to exercise more than fifty (50%) percent of the
total voting power of all shares of Capital Stock of the Company entitled to vote generally in the
elections of directors, other than any such acquisition by the Company, any Subsidiary or any
employee benefit plan of the Company; or

     (2) any Person shall succeed in having sufficient of its nominees (who are not supported by a
majority of the then current Board of Directors of the Company) elected to the Board of Directors
of the Company such that such nominees, when added to any existing directors remaining on the Board
of Directors of the Company after such election who are Affiliates of or acting in concert with any
such Person, shall constitute a majority of the Board of Directors of the Company; or

     (3) any consolidation or merger of the Company with or into any other Person, or any merger of
another Person with or into the Company (other than (A) a merger (i) that does not result in any
reclassification, conversion, exchange or cancellation of outstanding shares of the Company’s
Capital Stock and (ii) pursuant to which holders of the Company’s Common Stock immediately prior to
such transaction have, directly or indirectly, fifty (50%) percent or more of the total voting
power of all shares of Capital Stock or other ownership interests of the continuing or surviving
Person entitled to vote generally in the election of directors of the continuing or surviving
Person immediately after such transaction and (B) any merger that is effected solely to change the
jurisdiction of incorporation of the Company and results in a reclassification, conversion or
exchange of outstanding shares of Common Stock of the Company solely into shares of common stock of
the Company or another Person); or

     (4) any conveyance, transfer, sale, lease or other disposition of all or substantially all of
the Company’s assets to another Person.

     “Closing Price” means, with respect to the Common Stock on any day, the closing sale price
regular way on such day or, in the case where no such sale takes place on such day, the average of
the reported closing bid and asked prices, regular way, in each case on The Nasdaq Capital Market,
or, if the Common Stock is not listed or admitted to trading on such exchange, on the principal
national security exchange or quotation system on which such security is quoted or listed or
admitted to trading, or, if not quoted or listed or admitted to trading on any national

3

 

securities exchange or quotation system, the average of the closing bid and asked prices of
the Common Stock on the over-the-counter market on the day in question as reported by the National
Quotation Bureau Incorporated, or a similar generally accepted reporting service, or if not so
available, in such manner as furnished by any New York Stock Exchange member firm selected from
time to time by the Board of Directors for that purpose, or if no bid or asked price is available a
price determined in good faith by the Board of Directors, whose determination shall be conclusive
and described in a Board Resolution.

     “Code” has the meaning specified in Section 2.01.

     “Combined Cash and Tender Amount” has the meaning specified in Section 10.04(e).

     “Combined Tender and Cash Amount” has the meaning specified in Section 10.04(f).

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

     “Common Stock” means the shares of the class designated as common stock of the Company at the
date of this Indenture or as such stock may be reconstituted from time to time. Subject to the
provisions of Section 10.11, shares issuable on conversion or repurchase of Securities shall
include only shares of Common Stock or shares of any class or classes of Common Stock resulting
from any reclassification or reclassifications thereof; provided, however, that if at any time
there shall be more than one such resulting class, the shares so issuable on conversion of
Securities shall include shares of all such classes, and the shares of each such class then so
issuable shall be substantially in the proportion that the total number of shares of such class
resulting from all such reclassifications bears to the total number of shares of all such classes
resulting from all such reclassifications.

     “Company” means EpiCept Corporation, unless and until a successor corporation shall have
become such pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall
mean such successor corporation.

     “Company Notice” has the meaning specified in Section 12.02.

     “Company Request”, “Company Order”, and “Company Consent” mean, respectively, a written
request, order, or consent signed in the name of the Company by its Chairman, Chief Executive
Officer, Chief Financial Officer, Senior Vice President, or any Vice President (as hereinafter
defined), or by any other officer or officers of the Company pursuant to an applicable Board
Resolution, and delivered to the Trustee.

     “Completion Date” has the meaning specified in Section 10.04(f).

     “Completion Date” has the meaning specified in Section 10.04(f).

     “Constituent Person” has the meaning specified in Section 10.11.

4

 

     “Conversion Agent” means any Person authorized by the Company to convert Securities in
accordance with Article 10. The Company has initially appointed the Trustee as its Conversion
Agent.

     “Conversion Date” means the date on which both the Securities and the duly signed and
completed notice of conversion substantially in the form attached hereto as Exhibit B have
been delivered to the Trustee.

     “Conversion Price” means the amount equal to U.S. $1,000 divided by the Conversion Rate.

     “Conversion Rate” has the meaning specified in Section 10.01.

     “Conversion Shares” has the meaning specified in Section 10.04(m).

     “Corporate Trust Office” means the principal office of the Trustee at which at any time its
corporate trust business shall be administered, which office at the dated hereof is located at
                                                            , Attention: Corporate Trust Administration, or such other address as
the Trustee may designate from time to time by notice to the Holders and the Company, or the
principal corporate trust office of any successor Trustee (or such other address as such successor
Trustee may designate from time to time by notice to the Holders and the Company).

     “Corporation” means a corporation, association, company, joint-stock company, limited
liability company or business trust.

     “Defaulted Interest” has the meaning specified in Section 2.11.

     “Depositary” means with respect to any Registered Securities a clearing agency that is
registered as such under the Exchange Act and is designated by the Company to act as Depositary for
such Registered Securities (or any successor clearing agency so registered). The Company has
initially appointed DTC as Depositary hereunder.

     “Distribution Date” has the meaning specified in Section 10.04(m).

     “DTC” means The Depository Trust Company, a New York corporation.

     “Equivalent Government Securities” means, in relation to Securities denominated in a currency
other than U.S. dollars, securities of the government that issued the currency in which such
Securities are denominated or securities of government agencies backed by the full faith and credit
of such government.

     “Event of Default” has the meaning specified in Article 4.

     “Exchange Act” means the United States Securities Exchange Act of 1934, as amended.

     “GAAP” means generally accepted accounting principles set forth in the opinions and
pronouncements of the Accounting Principles Board of the American Standards Board or in such other
statements by such other entity as have been approved by a significant segment of the accounting
profession.

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     “Global Security” means a Registered Security that is registered in the Security Register in
the name of a Depositary or a nominee thereof.

     “Holder” and “Holder of Securities” means a Person in whose name a Security is registered in
the Security Register (as hereinafter defined).

     “Indebtedness” means the principal of (and premium, if any) and interest (including all
interest accruing subsequent to the commencement of any bankruptcy or similar proceeding, whether
or not a claim for post-petition interest is allowable as a claim in any such proceeding) on, and
rent payable on or in connection with, and all fees, costs, claims, expenses and other amounts
payable in connection with, the following, whether absolute or contingent, secured or unsecured,
due or to become due, outstanding on the date of this Indenture or thereafter created, incurred or
assumed: (1) all the Company’s indebtedness evidenced by a credit or loan agreement, note, bond,
debenture, or other similar instrument whether or not the recourse of the lender is to all of the
Company’s assets or only to a portion, (2) all of the Company’s indebtedness, obligations and other
liabilities, contingent or otherwise, for borrowed money, including, without limitation,
overdrafts, foreign exchange contracts, currency exchange agreements, interest rate protection
agreements and any loans or advances from banks, whether or not evidenced by notes or similar
instruments, or bonds, debentures, notes or similar instruments, whether or not the recourse of the
lender is to all of the Company’s assets or only to a portion thereof, (3) all of the Company’s
obligations as lessee under leases required to be capitalized on the balance sheet of the lessee
under GAAP, (4) all of the Company’s obligations and other liabilities, contingent or otherwise,
under any lease or related document, including a purchase agreement, in connection with the lease
of real property or improvements, or any personal property included as part of any such lease,
which provides that the Company is contractually obligated to purchase or cause a third party to
purchase the leased property and thereby guarantee a residual value of leased property to the
lessor and all of the Company’s obligations under such lease or related document to purchase or
cause a third party to purchase the leased property, whether or not such lease transaction is
characterized as an operating lease or capitalized lease in accordance with generally accepted
accounting principles, (5) all of the Company’s obligations under interest rate and currency swaps,
caps, floors, collars, hedge agreements, forward contracts, or similar agreements or arrangements,
(6) all of the Company’s obligations with respect to letters of credit, bank guarantees, bankers’
acceptances and similar facilities, including related reimbursement obligations, (7) all of the
Company’s obligations issued or assumed as the deferred purchase price of property or services (but
excluding trade accounts payable and accrued liabilities arising in the ordinary course of
business), (8) all of the Company’s obligations of the type referred to in clauses (1) through (7)
above of another Person and all dividends of another Person, the payment of which, in either case,
the Company has assumed or guaranteed or for which the Company is responsible or liable, directly
or indirectly, jointly or severally, as obligor, guarantor or otherwise or which is secured by a
lien on the Company’s property and (9) renewals, extensions, modifications, replacements,
restatements and refundings of, or any indebtedness or obligation issued in exchange for, any such
indebtedness or obligation described in clauses (1) through (8) of this definition; provided,
however, that Indebtedness shall not include accounts payable or other accrued liabilities or
obligations incurred in the ordinary course of business in connection with the obtaining of
materials or services and any indebtedness or obligation that the Company may owe to any direct or
indirect Subsidiary and obligations owed to a Person specified in clause (11) of the definition of
Permitted Lien in connection with the licensing and/or partnering arrangement referred to therein.

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     “Indenture” means this instrument as originally executed or as it may from time to time be
supplemented or amended by one or more indentures supplemental hereto entered into pursuant to the
applicable provisions hereof, including, for all purposes of this instrument and any such
supplemental indenture, the provisions of the Trust Indenture Act that are deemed to be a part of
and govern this instrument and any such supplemental indenture, respectively.

     “Interest Payment Date” means the Stated Maturity of an installment of interest on the
Securities.

     “Lien” means, with respect to any asset, any mortgage, lien, pledge, charge, security interest
or encumbrance of any kind with respect to such asset.

     “Make-Whole Payment” has the meaning specified in Article 9.

     “Maturity”, when used with respect to any Security, means the date on which the principal
amount outstanding under such Security or an installment of principal amount outstanding under such
Security becomes due and payable, as therein or herein provided, whether on the Scheduled Maturity
Date (as hereinafter defined), by declaration of acceleration, conversion, call for redemption, or
otherwise.

     “Member” means any member of, or participant in, the Depositary.

     “New Rights Plan” has the meaning specified in Section 10.04(d).

     “New York Business Day” means any day other than a Saturday or Sunday that is neither a legal
holiday nor a day on which banking institutions are authorized or required by law, regulation, or
executive order to be closed.

     “Non-electing Share” has the meaning specified in Section 10.11.

     “Notice of Default” has the meaning specified in Section 4.01.

     “Officers’ Certificate” means a certificate signed by any two of the Chairman of the Board of
Directors, the President and Chief Executive Officer, or the Senior Vice President and Chief
Financial Officer, or by any other officer or officers of the Company pursuant to an applicable
Board Resolution, and delivered to the Trustee.

     “Opinion of Counsel” means a written opinion of counsel to the Company, which counsel may be
an employee of the Company or other counsel who shall be reasonably acceptable to the Trustee.

     “Outstanding” means, as of the date of determination, all such Securities theretofore
authenticated and delivered under this Indenture, except:

     (i) such Securities theretofore canceled by the Trustee or delivered by the Company to the
Trustee for cancellation;

     (ii) such Securities, or portions thereof, for whose payment or redemption money in the
necessary amount has been theretofore deposited in trust with the Trustee or with any Paying Agent
(as hereinafter defined) other than the Company, or, if the Company shall act as its own

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Paying Agent, has been set aside and segregated in trust by the Company; provided, in any
case, that if such Securities are to be redeemed prior to their Scheduled Maturity Date, notice of
such redemption has been duly given pursuant to this Indenture or provision therefor reasonably
satisfactory to the Trustee has been made; and

     (iii) such Securities in exchange for or in lieu of which other Securities have been
authenticated and delivered pursuant to this Indenture, or which shall have been paid, in each
case, pursuant to the terms of Section 2.10 (except with respect to any such Security as to which
proof reasonably satisfactory to the Trustee is presented that such Security is held by a Person in
whose hands such Security is a legal, valid, and binding obligation of the Company).

In determining whether the Holders of the requisite principal amount of such Securities Outstanding
have given a direction concerning the time, method, and place of conducting any proceeding for any
remedy available to the Trustee, or concerning the exercise of any trust or power conferred upon
the Trustee under this Indenture, or concerning a consent on behalf of the Holders of Securities to
the waiver of any past default and its consequences, Securities owned by the Company, any other
obligor upon the Securities, or any Affiliate of the Company or such other obligor shall be
disregarded and deemed not to be Outstanding. In determining whether the Trustee shall be
protected in relying upon any such request, demand, authorization, direction, notice, consent, or
waiver, only Securities which a Responsible Officer assigned to the corporate trust department of
the Trustee knows to be owned by the Company or any other obligor upon the Securities or any
Affiliate of the Company or such other obligor shall be so disregarded. Securities so owned which
have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the
satisfaction of the Trustee the pledgee’s right to act as owner with respect to such Securities and
that the pledgee is not the Company or any other obligor upon the Securities or any Affiliate of
the Company or such other obligor.

     “Paying Agent” means, with respect to any Securities, any Person appointed by the Company to
distribute amounts payable by the Company on such Securities. As of the date of this Indenture, the
Company has appointed                                          as Paying Agent with respect to all Securities issuable
hereunder.

     “Payment Blockage Notice” has the meaning specified in Section 13.03.

     “Payment Blockage Period” has the meaning specified in Section 13.03.

     “Person” means any individual, Corporation, partnership, limited liability company, joint
venture, association, joint-stock company, trust, unincorporated organization, or government, or
any agency or political subdivision thereof.

     “Permitted Junior Securities” means:

     (a) Capital Stock of the Company; or

     (b) debt securities that are subordinated to all Senior Debt and debt securities that are
issued in exchange for Senior Debt to substantially the same extent as, or to a greater extent
than, the notes that are subordinated to Senior Debt under the Indenture and have a stated maturity
after (and do not provide for scheduled principal payments prior to) the stated maturity of any
Senior Debt and any debt securities issued in exchange for Senior Debt;

8

 

provided, however, that if such Capital Stock or debt securities are distributed in a bankruptcy or
insolvency proceeding, such Capital Stock or debt securities are distributed pursuant to a plan of
reorganization consented to by each class of Senior Debt.

     “Permitted Lien” means the following types of Liens:

     (1) Liens imposed by law for taxes, fees, assessments or other governmental charges or levies
that are not yet due and payable or are being contested in good faith by appropriate proceedings as
to which the Company or its Subsidiaries shall have set aside on its books such reserves as may be
required pursuant to GAAP;

     (2) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s, vendors’ or lessors’
Liens (and deposits to obtain the release of such Liens), set-off rights and other like Liens
imposed by law (or contract, to the extent that such contractual Liens are similar in nature and
scope to Liens imposed by law), in each case arising in the ordinary course of business and
securing obligations that either (a) are not overdue by more than sixty (60) days or (ii) are being
contested in good faith by appropriate proceedings as to which the Company or its Subsidiaries
shall have set aside on its books such reserves as may be required pursuant to GAAP;

     (3) Liens incurred and pledges and deposits made in the ordinary course of business in
connection with workers’ compensation, disability or unemployment insurance, old-age pensions,
retiree health benefits and other similar plans or programs and other social security laws or
regulations;

     (4) deposits to secure the performance of bids, trade contracts, leases, statutory
obligations, surety and appeal bonds, performance bonds and other obligations of a like nature, in
each case in the ordinary course of business;

     (5)(a) easements, covenants, conditions, restrictions, zoning restrictions, building codes,
land use laws, leases, subleases, licenses, rights of way, minor irregularities in, or lack of,
title and similar encumbrances affecting real property, (b) with respect to any lessee’s or
licensee’s interest in real or personal property, mortgages, liens, rights and obligations and
other encumbrances arising by, through or under any owner, lessor or licensor thereof, with or
without the lessee’s or licensee’s consent and (c) leases, licenses, rights and obligations in
connection with patents, copyrights, trademarks, tradenames and other intellectual property, in
each case that do not secure the payment of borrowed money (other than, with respect to any
lessee’s or licensee’s interest in real or personal property, mortgages, liens, rights and
obligations and other encumbrances arising by, through or under any owner, lessor or licensor
thereof) to the extent, in the case of each of clauses (a), (b) and (c), that the Liens referred to
therein do not, in the aggregate, materially detract from the value of the affected property as
used by the Company and its Subsidiaries in the ordinary course of business taken as a whole or
materially interfere with the ordinary conduct of the business of the Company and its Subsidiaries
taken as a whole;

     (6) Liens in favor of customs and revenue authorities to secure payment of customs duties in
connection with the importation of goods;

     (7) any interest or title of a lessor under any capitalized lease obligation; provided,
however, that such Liens do not extend to any property or assets which is not leased property
subject to such capitalized lease obligation;

9

 

     (8) Liens securing purchase money indebtedness incurred in the ordinary course of business;
provided, however, that (a) such purchase money indebtedness shall not exceed the purchase price or
other cost of such property or equipment and shall not be secured by any property or equipment of
the Company or any Subsidiary of the Company other than the property and equipment so acquired and
(b) the Lien securing such purchase money indebtedness shall be created within ninety (90) days of
such acquisition;

     (9) Liens securing interest swap obligations which interest swap obligations relate to
Indebtedness that is otherwise permitted under the indenture;

     (10) Liens securing Indebtedness under currency agreements;

     (11) Liens in favor of Strategic Partners in connection with a biopharmaceutical licensing
and/or partnering arrangement;

     (12) judgment Liens not giving rise to an Event of Default so long as such Lien is adequately
bonded and any appropriate legal proceedings which may have been duly initiated for the review of
such judgment shall not have been finally terminated or the period within which such proceedings
may be initiated shall not have expired;

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

     (14) Liens securing reimbursement obligations with respect to commercial letters of credit
which encumber documents and other property relating to such letters of credit and products and
proceeds thereof;

     (15) banker’s Liens, rights of setoff and similar Liens with respect to cash and Cash
Equivalents on deposit in one or more bank accounts in the ordinary course of business; and

     (16) Liens arising from filing Uniform Commercial Code financing statements regarding leases.

     “Place of Conversion” has the meaning specified in Section 2.05.

     “Place of Payment” has the meaning specified in Section 2.05.

     “Predecessor Securities” of any particular Security means every previous Security evidencing
all or a portion of the same debt as that evidenced by such particular Security; and, for the
purposes of this definition, any Security authenticated and delivered under Section 2.10 in lieu of
a lost, destroyed, mutilated, or stolen Security shall be deemed to evidence the same debt as the
lost, destroyed, mutilated, or stolen Security.

     “Record Date” means any Regular Record Date or Special Record Date.

     “Record Date Period” means the period from the close of business of any Regular Record Date
next preceding any Interest Payment Date to the opening of business on such Interest Payment Date.

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     “Registered Common Stock” means Common Stock that does not require registration or approval
under any federal securities law or, if applicable, the securities law of any state where a Holder
is located, before such shares are freely transferable without being transfer restrictions under
the Securities Act.

     “Registered Securities” has the meaning specified in Section 2.01.

     “Regular Record Date” means, for interest payable in respect of any Security on any Interest
Payment Date means the June 15 and the December 15 (whether or not a New York Business Day), as the
case may be, next preceding such Interest Payment Date

     “Repurchase Date” has the meaning specified in Section 12.01.

     “Repurchase Price” has the meaning specified in Section 12.01.

     “Responsible Officer” means, when used with respect to the Trustee, any officer within the
corporate trust department of the Trustee, including any vice president, assistant vice president,
assistant secretary, assistant treasurer, trust officer or any other officer of the Trustee who
customarily performs functions similar to those performed by the Persons who at the time shall be
such officers, respectively, or to whom any corporate trust matter is referred because of such
person’s knowledge of and familiarity with the particular subject and who shall have direct
responsibility for the administration of this Indenture.

     “Scheduled Maturity Date”, when used with respect to any Security, means the date specified in
such Security as the date on which all outstanding principal and interest will be due and payable.

     “Secured Indebtedness” means Indebtedness secured by a Lien other than a Permitted Lien.

     “Security Register” has the meaning specified in Section 2.09.

     “Security Registrar” means the Person who maintains the Security Register, which Person shall
be the Trustee unless and until a successor Security Registrar is appointed by the Company.

     “Significant Subsidiary” means any Subsidiary that would be a “significant subsidiary” as
defined in Article 1, Rule 1-02 of Regulation S-X, promulgated pursuant to the Securities Act, as
such regulation is in effect on the date hereof.

     “Special Record Date” for the payment of any Defaulted Interest means a date fixed by the
Company pursuant to Section 2.11.

     “Specified Currency” has the meaning specified in Section 3.01.

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

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     “Strategic Partner” means (i) a pharmaceutical or biotechnology company with book equity of at
least U.S.$200,000,000, (ii) a pharmaceutical or biotechnology company with sales of at least
U.S.$150,000,000, or (iii) a publicly traded, or division or subdivision of a publicly traded,
pharmaceutical or biotechnology company with market capitalization in excess of U.S.$200,000,000.

     “Subsidiary” of any specified corporation means any entity at least a majority of whose
outstanding Voting Stock shall at the time be owned, directly or indirectly, by the specified
corporation or by one or more of its Subsidiaries, or both.

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

     “Trading Day” means: (1) if the Common Stock is listed or admitted for trading on any national
securities exchange, days on which such national securities exchange is open for business; (2) if
the Common Stock is quoted on the Nasdaq Capital Market or any other system of automated
dissemination of quotations of securities prices, days on which trades may be effected through such
system; or (3) if the Common Stock is not listed or admitted for trading on any national securities
exchange or quoted on the Nasdaq Capital Market or any other system of automated dissemination of
quotation of securities prices, days on which the Common Stock is traded regular way in the
over-the-counter market and for which a closing bid and a closing asked price for the Common Stock
are available.

     “Trading Market” means the following markets or exchanges on which the Common Stock is listed
or quoted for trading on the date in question: the American Stock Exchange, The Nasdaq Capital
Market, The Nasdaq Global Market, The Nasdaq Global Select Market, the New York Stock Exchange or
the OTC Bulletin Board.

     “Trust Indenture Act”, or “TIA” means the Trust Indenture Act of 1939 as in force at the date
as of which this instrument was executed; provided, however, that in the event the Trust Indenture
Act of 1939 is amended after such date, “Trust Indenture Act” means, to the extent required by any
such amendment, the Trust Indenture Act of 1939 as so amended.

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

     “U.S. Government Obligations” means (i) securities that are direct obligations of the United
States of America, the payment of which is unconditionally guaranteed by the full faith and credit
of the United States of America and (ii) securities that are obligations of a Person controlled or
supervised by and acting as an agency or instrumentality of the United States of America, the
payment of which is unconditionally guaranteed by the full faith and credit of the United States of
America, and also includes depository receipts issued by a bank or trust company as custodian with
respect to any of the securities described in the preceding clauses (i) and (ii), and any payment
of interest or principal payable under any of the securities described in the preceding clauses (i)
and (ii) that is held by such custodian for the account of the holder of a depository receipt,
provided that (except as required by law) such custodian is not authorized to

12

 

make any deduction from the amount payable to the holder of such depository receipt, or from
any amount received by the custodian in respect of such securities, or from any specific payment
of interest or principal payable under the securities evidenced by such depository receipt.

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

     “Volume Weighted Average Price” means, with respect to the Common Stock of the Company, for
any date, the price determined by the first of the following clauses that applies: (a) if the
Common Stock is then listed or quoted on a Trading Market, the daily volume weighted average price
of the Common Stock for such date (or the nearest preceding date) on the Trading Market on which
the Common Stock is then listed or quoted for trading as reported by Bloomberg L.P. (based on a
Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time); (b) if the OTC
Bulletin Board is not a Trading Market, the volume weighted average price of the Common Stock for
such date (or the nearest preceding date) on the OTC Bulletin Board; (c) if the Common Stock is not
then quoted for trading on the OTC Bulletin Board and if prices for the Common Stock are then
reported in the “Pink Sheets” published by Pink Sheets, LLC (or a similar organization or agency
succeeding to its functions of reporting prices), the most recent bid price per share of the Common
Stock so reported; or (d) in all other cases, the fair market value of a share of Common Stock as
determined by an independent appraiser selected in good faith by the Holders of a majority in
interest of the Notes then outstanding and reasonably acceptable to the Company, the fees and
expenses of which shall be paid by the Company.

     “Voting Stock”, as applied to the stock of any corporation, means stock of any class or
classes (however designated), the outstanding shares of which have, by the terms thereof, ordinary
voting power to elect a majority of the members of the board of directors (or other governing body)
of such corporation, other than stock having such power only by reason of the happening of a
contingency.

     Section 1.02. Officers’ Certificates and Opinions. Upon any application or demand by the
Company to the Trustee to take any action under any of the provisions of this Indenture, the
Company shall furnish to the Trustee an Officers’ Certificate stating that all conditions precedent
provided for in this Indenture relating to the proposed action have been complied with and an
Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent have
been complied with. Each certificate or opinion provided for in this Indenture and delivered to
the Trustee with respect to compliance with a condition or covenant provided for in this Indenture
shall include the following:

     (a) a statement that each individual signing such certificate or opinion has read all
covenants and conditions of this Indenture relating to such proposed action, including the
definitions herein relating thereto;

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

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

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

     Section 1.03. Form of Documents Delivered to Trustee. In any case where several matters are
required to be certified by, or covered by an opinion of, any specified Person, it is not necessary
that all such matters be certified by, or covered by the opinion of, only one such Person, or that
they be so certified or covered by only one document, but one such Person may certify or give an
opinion with respect to some matters and one or more other such Persons as to the other matters,
and any such Person may certify or give an opinion as to such matters in one or several documents.

     Any certificate or opinion of an officer of the Company may be based, insofar as it relates to
legal matters, upon a certificate or opinion of, or representations by, legal counsel, unless such
officer knows that any such certificate, opinion, or representation is erroneous. Any opinion of
counsel for the Company may be based, insofar as it relates to factual matters, upon a certificate
or opinion of, or representations by, an officer or officers of the Company, unless such counsel
knows that any such certificate, opinion, or representation is erroneous.

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

     Section 1.04. Acts of Holders. (a) Any request, demand, authorization, direction, notice,
consent, waiver, or other action provided by this Indenture to be given or taken by Holders may be
embodied in and evidenced by one or more instruments of substantially similar tenor signed by such
Holders in person or by an agent duly appointed in writing; and, except as herein otherwise
expressly provided, such action shall become effective when such instrument or instruments are
delivered to the Trustee and (if expressly required by the applicable terms of this Indenture) to
the Company. If any Securities are denominated in coin or currency other than that of the United
States, then for the purposes of determining whether the Holders of the requisite principal amount
of Securities have taken any action as herein described, the principal amount of such Securities
shall be deemed to be that amount of United States dollars that could be obtained for such
principal amount on the basis of the spot rate of exchange into United States dollars for the
currency in which such Securities are denominated (as evidenced to the Trustee by a certificate
provided by a financial institution, selected by the Company, that maintains an active trade in the
currency in question, acting as conversion agent) as of the date of the taking of such action by
the Holders of such requisite principal amount as evidenced to the Trustee as provided in the
immediately preceding sentence. Such instrument or instruments (and the action embodied therein
and evidenced thereby) are herein sometimes referred to as the
“Act” of the Holders signing such
instrument or instruments. Proof of execution of any such instrument or of a writing appointing
any such agent shall be sufficient for any purpose of this Indenture and (subject to Section 5.01)
conclusive in favor of the Trustee and the Company, if made in the manner provided in this Section.

     (b) The fact and date of the execution by any Person of any such instrument or writing may be
proved by the affidavit of a witness to such execution or by the certificate of any notary public
or other officer authorized by law to take acknowledgments of deeds, certifying that the individual
signing such instrument or writing acknowledged to him the execution thereof. Where such execution
is by an officer of a corporation or a member of a partnership, on behalf of such corporation or
partnership, such certificate or affidavit shall also constitute sufficient proof

14

 

of his authority. The fact and date of the execution of any such instrument or writing, or
the authority of the person executing the same, may also be proved in any other manner which the
Trustee deems sufficient.

     (c) The ownership of Securities shall for all purposes be determined by reference to the
Security Register, as such register shall exist as of the applicable date.

     (d) If the Company shall solicit from the Holders any request, demand, authorization,
direction, notice, consent, waiver or other action, the Company may, at its option, by Board
Resolution, fix in advance a Record Date for the determination of Holders entitled to give such
request, demand, authorization, direction, notice, consent, waiver or other action, but the Company
shall have no obligation to do so. If such Record Date is fixed, such request, demand,
authorization, direction, notice, consent, waiver or other action may be given before or after such
Record Date, but only the Holders of record at the close of business on such Record Date shall be
deemed to be Holders for the purpose of determining whether Holders of the requisite proportion of
Securities Outstanding have authorized or agreed or consented to such request, demand,
authorization, direction, notice, consent, waiver or other action, and for that purpose the
Securities Outstanding shall be computed as of such Record Date.

     (e) Any request, demand, authorization, direction, notice, consent, waiver or other action by
the Holder of any Security shall bind each subsequent Holder of such Security, and each Holder of
any Security issued upon the registration of transfer thereof or in exchange therefor or in lieu
thereof, with respect to anything done or suffered to be done by the Trustee or the Company in
reliance upon such action, whether or not notation of such action is made upon such Security.

     Section 1.05. Notices, etc., to Trustee and Company. Any request, order, authorization,
direction, consent, waiver, or other action to be taken by the Trustee, the Company, or the Holders
hereunder (including any Company Order), and any notice to be given to the Trustee or the Company
with respect to any action taken or to be taken by the Trustee, the Company, or the Holders
hereunder, shall be sufficient if made in writing and

     (a) (if to be furnished or delivered to or filed with the Trustee by the Company or any
Holder) delivered to the Trustee at its Corporate Trust Office, or

     (b) (if to be furnished or delivered to the Company by the Trustee or any Holder, and except
as otherwise provided in Section 4.01 and, in the case of a request for repayment, except as
specified in the Security carrying the right to repayment) mailed to the Company, first-class
postage prepaid, at its principal office located in Tarrytown, New York, Attention: Chief
Financial Officer, or at any other address hereafter furnished in writing by the Company to the
Trustee.

     Section 1.06. Notice To Holders; Waiver. Where this Indenture or any Security provides for
notice to Holders of any event, such notice shall be sufficiently given (unless otherwise expressly
provided herein or in such Security) if in writing and mailed, first-class postage prepaid, to each
Holder affected by such event, at his or her address as it appears in the Security Register as of
the applicable Record Date, not later than the latest date or earlier than the earliest date
prescribed by this Indenture or such Security for the giving of such notice. In any case where
notice to Holders is given by mail, neither the failure to mail such notice nor any defect in any
notice so mailed to any particular Holder shall affect the sufficiency of such notice with

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

     In case, by reason of the suspension of regular mail service as a result of a strike, work
stoppage or otherwise, it shall be impractical to mail notice of any event to any Holder when such
notice is required to be given pursuant to any provision of this Indenture or the applicable
Security, then any method of notification as shall be reasonably satisfactory to the Trustee and
the Company shall be deemed to be sufficient for the giving of such notice.

     Section 1.07. Conflict with Trust Indenture Act. If any provision hereof limits, qualifies
or conflicts with another provision hereof which is required to be included in this Indenture by
any of the provisions of the TIA, such required provision shall control.

     Section 1.08. Effect of Headings and Table of Contents. The Article and Section headings
herein and the Table of Contents hereof are for convenience only and shall not affect the
construction of any provision of this Indenture.

     Section 1.09. Successors and Assigns. All covenants and agreements in this Indenture by the
Company shall bind its successors and assigns, whether so expressed or not.

     Section 1.10. Separability Clause. In case any provision in this Indenture or in the
Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability of
the remaining provisions shall not in any way be affected or impaired thereby.

     Section 1.11. Benefits Of Indenture. Nothing in this Indenture or in any Securities, express
or implied, shall give to any Person, other than the parties hereto, their successors hereunder,
the Authenticating Agent, the Security Registrar, any Paying Agent, and the Holders of Securities
(or such of them as may be affected thereby), any benefit or any legal or equitable right, remedy
or claim under this Indenture.

     Section 1.12. Governing Law. This Indenture shall be governed by and construed in accordance
with the laws of the State of New York.

     Section 1.13. Counterparts. This instrument may be executed in any number of counterparts,
each of which when so executed shall be deemed to be an original, but all of which shall together
constitute but one and the same instrument.

     Section 1.14. Judgment Currency. The Company agrees, to the fullest extent that it may
effectively do so under applicable law, that (a) if for the purpose of obtaining judgment in any
court, with respect to the Securities of any series, it is necessary to convert the sum due in
respect of the principal, premium, if any, or interest, if any, payable with respect to such
Securities into a currency in which a judgment can be rendered (the
“Judgment Currency”), the rate
of exchange from the currency in which payments under such Securities
is payable (the “Required
Currency”) into the Judgment Currency shall be the highest bid quotation (assuming European-style
quotation — i.e., Required Currency per Judgment Currency) received by the Company from three
recognized foreign exchange dealers in the City of New York for the purchase of the aggregate
amount of the judgment (as denominated in the Judgment Currency) on the New York

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Business Day preceding the date on which a final unappealable judgment is rendered, for
settlement on such payment date, and at which the applicable dealer timely commits to execute a
contract, and (b) the Company’s obligations under this Indenture to make payments in the Required
Currency (i) shall not be discharged or satisfied by any tender, or by any recovery pursuant to any
judgment (whether or not entered in accordance with the preceding clause (a)), in any currency
other than the Required Currency, except to the extent that such tender or recovery shall result in
the actual receipt by the judgment creditor of the full amount of the Required Currency expressed
to be payable in respect of such payments, (ii) shall be enforceable as an alternative or
additional cause of action for the purpose of recovering in the Required Currency the amount, if
any, by which such actual receipt shall fall short of the full amount of the Required Currency so
expressed to be payable, and (iii) shall not be affected by judgment being obtained for any other
sum due under this Indenture.

     Section 1.15. Legal Holidays.

     In any case where any Interest Payment Date or Maturity of any Security or the last day on
which a Holder of a Security has a right to convert his Security shall not be a New York Business
Day at any Place of Payment or Place of Conversion, as the case may be, then (notwithstanding any
other provision of this Indenture or of the Securities) payment of interest or principal (and
premium, if any) need not be made at such Place of Payment or Place of Conversion, as the case may
be, on such date, but may be made on the next succeeding New York Business Day at such Place of
Payment or Place of Conversion, as the case may be, with the same force and effect as if made on
the Interest Payment Date, at Maturity, or by such last day for conversion; provided that no
interest shall accrue for the period from and after such Interest Payment Date, Maturity, or last
day for conversion, as the case may be.

     Section 1.16. Waiver of Jury Trial.

     Each of the Company and the Trustee hereby irrevocably waives, to the fullest extent permitted
by applicable law, any and all right to trial by jury in any legal proceeding arising out of or
relating to this Indenture or the Notes.

     Section 1.17. Force Majeure.

     In no event shall the Trustee be responsible or liable for any failure or delay in the
performance of its obligations hereunder arising out of or caused by, directly or indirectly,
forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts
of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of
God, and interruptions, loss or malfunctions of utilities, communications or computer (software and
hardware) services; it being understood that the Trustee shall use reasonable efforts which are
consistent with accepted practices in the banking industry to resume performance as soon as
practicable under the circumstances.

     Section 1.18. Facsimile Instructions

     The Trustee agrees to accept and act upon facsimile transmission of written instructions or
directions pursuant to this Indenture given by the Company; provided, however that: (i) the
Company, subsequent to such facsimile transmission of written instructions or directions, shall
provide the originally executed instructions to the Trustee in a timely manner, and (ii) such

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originally executed instructions or directions shall be signed by an authorized officer of the
Company.

ARTICLE 2

The Securities

     Section 2.01. Form Generally.

     The Securities and the Trustee’s certificate of authentication shall be in substantially the
form set forth in Exhibit A hereto, which Exhibit is incorporated into this Indenture, with
such appropriate insertions, omissions, substitutions and other variations as are required or
permitted by this Indenture, and may have such letters, numbers or other marks of identification
and such legends or endorsements placed thereon as may be required to comply with the rules of any
securities exchange or the Internal Revenue Code of 1986, as amended, and regulations thereunder
(the “Code”), or as may, consistently herewith, be determined by the officers executing such
Securities, as evidenced by their execution thereof. Any portion of the text of any Security may
be set forth on the reverse thereof, with an appropriate reference thereto on the face of the
Security. All Securities shall be issued in registered form, as opposed to bearer form, and shall
sometimes be referred to as the “Registered Securities.”

     The Securities shall be printed, lithographed, typewritten or engraved or produced by any
combination of these methods on steel engraved borders, if so required by any securities exchange
upon which the Securities may be listed, or may be produced in any other manner permitted by the
rules of any such securities exchange, or, if the Securities are not listed on a securities
exchange, in any other manner approved by the Company, all as determined by the officers executing
such Securities, as evidenced by their execution thereof.

     Section 2.02. Forms of Securities.

     Each Security shall be in one of the forms approved from time to time by or pursuant to any
Board Resolution, or established in one or more indentures supplemental hereto. Prior to the
delivery to the Trustee for authentication of any Security in any form approved by or pursuant to a
Board Resolution, the Company shall deliver to the Trustee a copy of such Board Resolution,
together with a true and correct copy of the form of Security which has been approved thereby, or,
if a Board Resolution authorizes a specific officer or officers to approve a form of Security,
together with a certificate of such officer or officers approving the form of Security attached
thereto, provided, however, that with respect to all Securities issued pursuant to the same Board
Resolution, the required copy of such Board Resolution, together with the appropriate attachment,
need be delivered only once. Any form of Security approved by or pursuant to a Board Resolution
must be reasonably acceptable as to form to the Trustee, such acceptance to be evidenced by the
Trustee’s authentication of Securities in that form.

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     Section 2.03. Securities in Global Form.

     If Securities of a series are issuable in whole or in part in global form, the Global Security
representing such Securities may provide that it shall represent the aggregate amount of
Outstanding Securities from time to time endorsed thereon and may also provide that the aggregate
amount of Outstanding Securities represented thereby may from time to time be reduced to reflect
exchanges or increased to reflect the issuance of additional Securities. Any endorsement of a
Security in global form to reflect the amount (or any increase or decrease in the amount) of
Outstanding Securities represented thereby shall be made in such manner and by such Person or
Persons as shall be specified therein or in the Authentication Order delivered to the Trustee
pursuant to Section 3.03 hereof.

     Upon their original issuance, Securities shall be issued in the form of one or more Global
Securities without interest coupons and shall be registered in the name of DTC, as Depositary, or
its nominee and deposited with the trustee, as custodian for DTC, for credit by DTC to the
respective accounts of beneficial owners of the Securities represented thereby (or such other
accounts as they may direct).

     Section 2.04. Form of Trustee’s Certificate of Authentication.

     The form of Trustee’s Certificate of Authentication for any Security issued pursuant to this
Indenture shall be substantially as follows:

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

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

	 	 	 	 	 
	 	                                        , as Trustee

 	 
	 	By:  	 	 
	 	 	Authorized Signatory   	 
	 	 	 	 
	 

     Section 2.05. Title and Terms.

     The aggregate principal amount of Securities that may be authenticated, delivered, and
Outstanding at any time under this Indenture is not limited.

     The Securities may be issued in one or more series in such aggregate principal amount as may
from time to time be authorized by the Board of Directors. All Securities of a series issued under
this Indenture shall in all respects be equally and ratably entitled to the benefits hereof,
without preference, priority, or distinction on account of the actual time of the authentication
and delivery or Scheduled Maturity Date thereof.

     Each series of Securities shall be created either by or pursuant to one or more Board
Resolutions or by one or more indentures supplemental hereto. Any such Board Resolution or
supplemental indenture (or, in the case of a series of Securities created pursuant to a Board
Resolution, any officer or officers authorized by such Board Resolution) shall establish the terms
of any such series of Securities, including the following (as and to such extent as may be
applicable):

19

 

     (1) the title of such series;

     (2) the limit, if any, upon the aggregate principal amount or issue price of the Securities of
such series;

     (3) the issue date or issue dates of the Securities of such series;

     (4) the Scheduled Maturity Date of the Securities of such series;

     (5) the place or places where the principal, premium, if any, interest, if any, and additional
amounts, if any, payable with respect to the Securities of such series shall be payable;

     (6) whether the Securities of such series will be issued at par or at a premium over or a
discount from their face amount;

     (7) the rate or rates (which may be fixed or variable) at which the Securities of such series
shall bear interest, if any, and, if applicable, the method by which such rate or rates may be
determined;

     (8) the date or dates (or the method by which such date or dates may be determined) from which
interest, if any, shall accrue, and the Interest Payment Dates on which such interest shall be
payable;

     (9) the rights, if any, to defer payments of interest on the Securities by extending the
interest payment periods and the duration of such extension;

     (10) the period or periods within which the Repayment Price(s) and any other terms and
conditions upon which the Securities of such series may be redeemed or repaid, in whole or in part,
by the Company;

     (11) the obligation, if any, of the Company to redeem, repay, or purchase any of the
Securities of such series pursuant to any mandatory redemption, purchase obligation, or analogous
provision at the option of a Holder thereof, and the period or periods within which the Repayment
Price(s) or other price, and any other terms and conditions upon which the Securities of such
series shall be redeemed, repaid, or purchased, in whole or in part, pursuant to such obligation;

     (12) whether the Securities of such series are to be issued in whole or in part in global form
and, if so, the identity of the Depositary for such global security and the terms and conditions,
if any, upon which interests in the Securities represented by such global security may be
exchanged, in whole or in part, for the individual Securities represented thereby (if other than as
provided in Section 3.05);

     (13) whether such Securities are subordinated Securities and if so, the provisions for such
subordination if other than the provisions set forth in Article 13;

     (14) the denominations in which the Securities of such series will be issued (which may be any
denomination as set forth in the terms of such Securities) if other than U.S. $1,000 or an integral
multiple thereof);

20

 

     (15) whether and under what circumstances additional amounts on the Securities of such series
shall be payable in respect of any taxes, assessments, or other governmental charges withheld or
deducted and, if so, whether the Company will have the option to redeem such Securities rather than
pay such additional amounts;

     (16) the basis upon which interest shall be calculated;

     (17) if the Securities of such series are to be issuable in definitive form (whether upon
original issue or upon exchange of a temporary Security for a definitive Security of such series)
only upon receipt of certain certificates or other documents or upon satisfaction of other
conditions, then the form and terms of such certificates, documents, and/or conditions;

     (18) the exchange or conversion of the Securities of that series, whether or not at the option
of the Holders thereof, for or into new Securities of a different series or for or into any other
securities which may include shares of Capital Stock of the Company or any Subsidiary of the
Company or securities directly or indirectly convertible into or exchangeable for any such shares
or securities of entities unaffiliated with the Company or any Subsidiary of the Company;

     (19) if other than U.S. dollars, the foreign or composite currency or currencies, which shall
be reasonably acceptable to the Trustee, (each such currency a “Specified Currency”) in which the
Securities of such series shall be denominated and in which payments of principal, premium, if any,
interest, if any, or additional amounts, if any, payable with respect to such Securities shall or
may be payable;

     (20) if the principal, premium, if any, interest, if any, or additional amounts, if any,
payable with respect to the Securities of such series are to be payable in any currency other than
that in which the Securities are stated to be payable, which currency shall be reasonably
acceptable to the Trustee, whether at the election of the Company or of a Holder thereof, the
period or periods within which, and the terms and conditions upon which, such election may be made;

     (21) if the amount of any payment of principal, premium, if any, interest, if any, or other
sum payable with respect to the Securities of such series may be determined by reference to the
relative value of one or more Specified Currencies, commodities, securities, or instruments, the
level of one or more financial or non-financial indices, or any other designated factors or
formulas, the manner in which such amounts shall be determined;

     (22) the exchange of Securities of such series, at the option of the Holders thereof, for
other Securities of the same series of the same aggregate principal amount of a different
authorized kind or different authorized denomination or denominations, or both;

     (23) the appointment by the Trustee of an Authenticating Agent in one or more places other
than the Corporate Trust Office of the Trustee, with power to act on behalf of the Trustee, and
subject to its direction, in the authentication and delivery of the Securities of such series;

     (24) any trustees, depositaries, paying agents, transfer agents, exchange agents, conversion
agents, registrars, or other agents with respect to the Securities of such series if other than the
Trustee, Paying Agent and Security Registrar named herein;

21

 

     (25) the portion of the principal amount of Securities of such series, if other than the
principal amount thereof, that shall be payable upon declaration of acceleration of the Maturity
thereof pursuant to Section 5.02 or provable in bankruptcy pursuant to Section 5.04;

     (26) any Event of Default with respect to the Securities of such series, if not set forth
herein, or any modification of any Event of Default set forth herein with respect to such series;

     (27) any covenant solely for the benefit of the Securities of such series;

     (28) the inapplicability of Section 4.02 and Section 4.03 of this Indenture to the Securities
of such series; and

     (29) any other terms not inconsistent with the provisions of this Indenture.

     If all of the Securities issuable by or pursuant to any Board Resolution are not to be issued
at one time, it shall not be necessary to deliver the Officers’ Certificate and Opinion of Counsel
required by Section 3.03 hereof at the time of issuance of each such Security, but such Officers’
Certificate and Opinion of Counsel shall be delivered at or before the time of issuance of the
first such Security.

     If any series of Securities shall be established by action taken pursuant to any Board
Resolution, the execution by the officer or officers authorized by such Board Resolution of an
Authentication Order (as defined in Section 2.07 below) with respect to the first Security of such
series to be issued, and the delivery of such Authentication Order to the Trustee at or before the
time of issuance of the first Security of such series, shall constitute a sufficient record of such
action. Except as otherwise permitted by Section 2.07, if all of the Securities of any such series
are not to be issued at one time, the Company shall deliver an Authentication Order with respect to
each subsequent issuance of Securities of such series, but such Authentication Orders may be
executed by any authorized officer or officers of the Company, whether or not such officer or
officers would have been authorized to establish such series pursuant to the aforementioned Board
Resolution.

     Unless otherwise provided by or pursuant to the Board Resolution or supplemental indenture
creating such series (i) a series may be reopened for issuances of additional Securities of such
series, and (ii) all Securities of the same series shall be substantially identical, except for the
initial Interest Payment Date, issue price, initial interest accrual date and the amount of the
first interest payment.

     The form of the Securities of each series shall be established in a supplemental indenture or
by or pursuant to the Board Resolution creating such series. The Securities of each series shall
be distinguished from the Securities of each other series in such manner as the Board of Directors
or its authorized representative or representatives may determine.

     Unless otherwise provided with respect to Securities of a particular series, the Securities of
any series may only be issuable in registered form, without coupons.

     The principal of, premium, if any, interest and Make-Whole Payment, if any, on the Securities
shall be payable as provided in the form of Security for any series, and the Repurchase Price, if
any, shall be payable at such places as are identified in the Company Notice given

22

 

pursuant to
Section 12.02 (any city in which any Paying Agent is located being herein called a “Place of
Payment”).

     If the Securities of any series shall be convertible they shall also be governed by Article
10. Any city in which any Conversion Agent is located being herein called a “Place of Conversion”.

     The Securities shall be subject to repurchase by the Company at the option of the Holders as
provided in Article 12.

     Section 2.06. Denominations.

     The Securities of each series shall be issuable in such denominations and currency (such
currency to be reasonably acceptable to the Trustee) as shall be provided in the provisions of this
Indenture or by or pursuant to the Board Resolution or supplemental indenture creating such series.
In the absence of any such provisions with respect to the Securities of any series, the Securities
of that series shall be issuable only in fully registered form in denominations of U.S. $1,000 and
any integral multiple thereof. The Securities shall be issuable only in registered form, without
interest coupons, in denominations of U.S.$1,000 and any integral multiple thereof.

     Section 2.07. Execution, Authentication, Delivery and Dating.

     The Securities shall be executed on behalf of the Company by its Chairman of the Board, its
President and Chief Executive Officer, or its Chief Financial Officer and attested by its
Secretary. Any such signature may be manual or facsimile.

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

     At any time and from time to time after the execution and delivery of this Indenture, the
Company may deliver Securities to the Trustee for authentication, together with a Company Order for
authentication and delivery (such Order an “Authentication Order”) with respect to such Securities,
and the Trustee shall, upon receipt of such Authentication Order, in accordance with procedures
reasonably acceptable to the Trustee set forth in the Authentication Order, and subject to the
provisions hereof, authenticate and deliver such Securities to such recipients as may be specified
from time to time pursuant to such Authentication Order. The material terms of such Securities
shall be determinable by reference to such Authentication Order and procedures.

     Each Security shall be dated the date of its authentication.

     No Security shall be entitled to any benefit under this Indenture or be valid or obligatory
for any purpose unless there appears on such Security a certificate of authentication substantially
in the form provided for herein executed by the Trustee by manual signature of an authorized
signatory, and such certificate upon any Security shall be conclusive evidence, and the only
evidence, that such Security has been duly authenticated and delivered hereunder.

23

 

     Section 2.08. Global Securities.

     Each Global Security authenticated under this Indenture shall be registered in the name of the
Depositary designated by the Company for such Global Security or a nominee thereof and delivered to
such Depositary or a nominee thereof or custodian therefor, and each such Global Security shall
constitute a single Security for all purposes of this Indenture.

     Notwithstanding any other provision in this Indenture, no Global Security may be exchanged in
whole or in part for Securities registered, and no transfer of a Global Security in whole or in
part may be registered, in the name of any Person other than the Depositary for such Global
Security or a nominee thereof unless (A) such Depositary (i) has notified the Company that it is
unwilling or unable to continue as Depositary for such Global Security or (ii) has ceased to be a
clearing agency registered as such under the Exchange Act or announces an intention permanently to
cease business or does in fact do so or (B) there shall have occurred and be continuing an Event of
Default with respect to such Global Security.

     If any Global Security is to be exchanged for other Securities or cancelled in whole, it shall
be surrendered by or on behalf of the Depositary or its nominee to the Trustee, as Security
Registrar, for exchange or cancellation, as provided in this Article 2. If any Global Security is
to be exchanged for other Securities or cancelled in part, or if another Security is to be
exchanged in whole or in part for a beneficial interest in any Global Security, in each case, as
provided in Section 2.09, then either (A) such Global Security shall be so surrendered for exchange
or cancellation, as provided in this Article 2, or (B) the principal amount thereof shall be
reduced or increased by an amount equal to the portion thereof to be so exchanged or cancelled or
equal to the principal amount of such other Security to be so exchanged for a beneficial interest
therein, as the case may be, by means of an appropriate adjustment made on the records of the
Trustee, as Security Registrar, whereupon the Trustee, in accordance with the Applicable
Procedures, shall instruct the Depositary or its authorized representative to make a corresponding
adjustment to its records. Upon any such surrender or adjustment of a Global Security, the Trustee
shall, subject to Article 2 and as otherwise provided in this Article 2, authenticate and make
available for delivery any Securities issuable in exchange for such Global Security (or any portion
thereof) to or upon the order of, and registered in such names as may be directed by, the
Depositary or its authorized representative. Upon the request of the Trustee in connection with
the occurrence of any of the events specified in the preceding paragraph, the Company shall
promptly make available to the Trustee a reasonable supply of Securities that are not in the form
of Global Securities. The Trustee shall be entitled to rely upon any order, direction or request
of the Depositary or its authorized representative which is given or made pursuant to this Article
2.

     Every Security authenticated and delivered upon registration of transfer of, or in exchange
for or in lieu of, a Global Security or any portion thereof, whether pursuant to this Article 2 or
otherwise, shall be authenticated and delivered in the form of, and shall be, a registered Global
Security, unless such Security is registered in the name of a Person other than the Depositary for
such Global Security or a nominee thereof, in which case such Registered Security shall be
authenticated and delivered in definitive, fully registered form, without interest coupons.

     The Depositary or its nominee, as registered owner of a Global Security, shall be the Holder
of such Global Security for all purposes under the Indenture and the Registered Securities, and
owners of beneficial interests in a Global Security shall hold such interests pursuant to the
Applicable Procedures. Accordingly, any such owner’s beneficial interest in a Global Security

24

 

shall be shown only on, and the transfer of such interest shall be effected only through, records
maintained by the Depositary or its nominee or its Agent Members, and such owners of beneficial
interests in a Global Security shall not be considered the owners or holders thereof.

     Section 2.09. Registration, Registration of Transfer and Exchange.

     (a) The Company shall cause to be kept at the Corporate Trust Office a register (the register
maintained in such office and in any other office or agency of the Company designated
pursuant to Section 8.02 being herein sometimes collectively referred to as the “Security
Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall
provide for the registration of Registered Securities and of transfers of Registered Securities.
The Trustee is hereby appointed “Security Registrar” for the purpose of registering Registered
Securities and transfers and exchanges of Registered Securities as herein provided.

     Upon surrender for registration of transfer of any Security at an office or agency of the
Company designated pursuant to Section 8.02 for such purpose, the Company shall execute, and the
Trustee shall authenticate and deliver, in the name of the designated transferee or transferees,
one or more new Securities of any authorized denominations and of a like aggregate principal amount
and bearing such restrictive legends as may be required by this Indenture.

     At the option of the Holder, and subject to the other provisions of this Section 2.09,
Securities may be exchanged for other Securities of any authorized denomination and of a like
aggregate principal amount, upon surrender of the Securities to be exchanged at any such office or
agency. Whenever any Securities are so surrendered for exchange, and subject to the other
provisions of this Section 2.09, the Company shall execute, and the Trustee shall authenticate and
make available for delivery, the Securities the Holder making the exchange is entitled to receive.
Every Security presented or surrendered for registration of transfer or for exchange shall (if so
required by the Company or the Security Registrar) be duly endorsed, or be accompanied by a written
instrument of transfer in form satisfactory to the Company and the Security Registrar, duly
executed by the Holder thereof or his attorney duly authorized in writing.

     All Securities issued upon any registration of transfer or exchange of Securities shall be the
valid obligations of the Company, evidencing the same debt, subject to the other provisions of this
Section 2.09, and entitled to the same benefits under this Indenture, as the Securities surrendered
upon such registration of transfer or exchange.

     Unless otherwise provided in the Security to be transferred or exchanged, no service charge
shall be made to a Holder for any registration of transfer or exchange of Securities except as
provided in Section 2.10, but the Company may (unless otherwise provided in such Security) require
payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in
connection with any registration of transfer or exchange of Securities, other than exchanges
pursuant to Section 2.08, 7.06, 10.02 or 12.02(e) (other than where the shares of Common Stock are
to be issued or delivered in a name other than that of the Holder of the Security) not involving
any transfer and other than any stamp and other duties, if any, that may be imposed in connection
with any such transfer or exchange by the United States or any political subdivision thereof or
therein, which shall be paid by the Company.

     (b) Neither the Trustee, the Paying Agent nor any of their agents shall (1) have any duty to
monitor compliance with or with respect to any federal or state or other securities or tax

25

 

laws or
(2) have any duty to obtain documentation on any transfers or exchanges other than as specifically
required hereunder.

     Section 2.10. Mutilated, Destroyed, Lost or Stolen Securities.

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

     If there be delivered to the Company and to the Trustee:

     (a) evidence to their satisfaction of the destruction, loss or theft of any Security, and

     (b) such security or indemnity as may be satisfactory to the Company and the Trustee to save
each of them and any agent of either of them harmless,

then, in the absence of actual notice to the Company or the Trustee that such Security has been
acquired by a bona fide purchaser, the Company shall execute and the Trustee shall authenticate and
make available for delivery, in lieu of any such destroyed, lost or stolen Security, a new Security
of like tenor and principal amount and bearing a number not contemporaneously outstanding.

     In case any such mutilated, destroyed, lost or stolen Security has become or is about to
become due and payable, the Company in its discretion, but subject to any conversion rights, may,
instead of issuing a new Security, pay such Security, upon satisfaction of the conditions set forth
in the preceding paragraph.

     Upon the issuance of any new Security under this Section 2.10, the Company may require the
payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in
relation thereto (other than any stamp and other duties, if any, that may be imposed in connection
therewith by the United States or any political subdivision thereof or therein, which shall be paid
by the Company) and any other expenses (including the fees and expenses of the Trustee) connected
therewith.

     Every new Security issued pursuant to this Section 2.10 in lieu of any mutilated, destroyed,
lost or stolen Security shall constitute an original additional contractual obligation of the
Company, whether or not the mutilated, destroyed, lost or stolen Security shall be at any time
enforceable by anyone, and such new Security shall be entitled to all the benefits of this
Indenture equally and proportionately with any and all other Securities of the same series duly
issued hereunder.

     The provisions of this Section 2.10 are exclusive and shall preclude (to the extent lawful)
all other rights and remedies of any Holder with respect to the replacement or payment of
mutilated, destroyed, lost or stolen Securities.

     Section 2.11. Payment of Interest; Interest Rights Preserved.

     Interest on any Security that is payable, and is punctually paid or duly provided for, on any
Interest Payment Date shall, if so provided in such Security, be paid, at the option of the
Company, in immediately available funds, Registered Common Stock or some combination of

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immediately
available funds or Registered Common Stock as provided in the Security to the Person in whose name
that Security (or one or more Predecessor Securities) is registered at the close of business on the
Regular Record Date for such interest. For the purpose of any interest payment in Registered
Common Stock, whether in whole or in part, such payment will have a Fair Market Value equal to the
interest payment due on the Interest Payment Date.

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

     (a) The Company may elect to make payment of any Defaulted Interest to the Persons in whose
names the Securities (or their respective Predecessor Securities) are registered at the close of
business on a special record date (the “Special Record Date”) for the payment of such Defaulted
Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in
writing of the amount of Defaulted Interest proposed to be paid on each Security, the date of the
proposed payment and the Special Record Date, and at the same time the Company shall deposit with
the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such
Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to
the date of the proposed payment, such money when deposited to be held in trust for the benefit of
the Persons entitled to such Defaulted Interest as provided in this clause. The Special Record
Date for the payment of such Defaulted Interest shall be not more than fifteen (15) days and not
less than ten (10) days prior to the date of the proposed payment and not less than fifteen (15)
days after the receipt by the Trustee of the notice of the proposed payment. The Trustee, in the
name and at the expense of the Company, shall cause notice of the proposed payment of such
Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid,
to each Holder at such Holder’s address as it appears in the Security Register, not less than ten
(10) days prior to such Special Record Date. Notice of the proposed payment of such Defaulted
Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall
be paid to the Persons in whose names the Securities (or their respective Predecessor Securities)
are registered at the close of business on such Special Record Date and shall no longer be payable
pursuant to the following clause (b).

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

     Subject to the foregoing provisions of this Section 2.11 and Section 2.09, each Security
delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of
any other Security shall carry the rights to interest accrued and unpaid, and to accrue, that were
carried by such other Security.

     Interest on any Security that is converted in accordance with Section 10.02 during a Record
Date Period shall be payable in accordance with the provisions of Section 10.02.

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     Section 2.12. Persons Deemed Owners.

     Prior to due presentment of a Security for registration of transfer, the Company, the Trustee
and any agent of the Company or the Trustee may treat the Person in whose name such Security is
registered as the owner of such Security for the purpose of receiving payment of principal of,
premium, if any, and (subject to Section 2.11) interest on such Security and for all other purposes
whatsoever, whether or not such Security be overdue, and neither the Company, the Trustee nor any
agent of the Company or the Trustee shall be affected by notice to the contrary.

     None of the Company, the Trustee, any Authenticating Agent, any Paying Agent, the Security
Registrar, or any Co-Security Registrar will have any responsibility or liability for any aspect of
the records relating to or payments made on account of beneficial ownership interests of a Security
in global form or for maintaining, supervising or reviewing any records relating to such
beneficial ownership interests and each of them may act or refrain from acting without
liability on any information relating to such records provided by the Depositary.

     Section 2.13. Cancellation.

     All Securities surrendered for payment, repurchase, redemption, registration of transfer or
exchange or conversion shall, if surrendered to any Person other than the Trustee, be delivered to
the Trustee. All Securities so delivered to the Trustee shall, at the written request of the
Company, be cancelled promptly by the Trustee. No Securities shall be authenticated in lieu of or
in exchange for any Securities cancelled as provided in this Section 2.13. The Trustee shall
dispose of all cancelled Securities in accordance with applicable law and its customary practices
in effect from time to time.

     Section 2.14. Computation of Interest.

     Interest on the Securities shall be computed on the basis of a 360-day year of twelve (12)
30-day months.

     Section 2.15. CUSIP Numbers.

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

ARTICLE 3

Satisfaction and Discharge

     Section 3.01. Satisfaction and Discharge of Indenture. This Indenture shall cease to be of
further effect with respect to any series of Securities (except as to any surviving rights of
conversion or transfer or exchange of Securities of such series expressly provided for herein or in

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the form of Security for such series), and the Trustee, on demand of and at the expense of the
Company, shall execute proper instruments, in form and substance reasonably satisfactory to the
Trustee, acknowledging satisfaction and discharge of this Indenture as to such series, when

     (a) either

     (i) all Securities of that series theretofore authenticated and delivered (other than
(A) Securities of such series which have been destroyed, lost, or stolen and which have
been replaced or paid as provided in Section 2.07, and (B) Securities of such series for
whose payment money has theretofore been deposited in trust or segregated and held in trust
by the Company and thereafter repaid to the Company or discharged from such trust, as
provided in Section 8.03) have been delivered to the Trustee canceled or for cancellation;
or

     (ii) all such Securities of that series not theretofore delivered to the Trustee
canceled or for cancellation

     (A) have become due and payable, or

     (B) will, in accordance with their Scheduled Maturity Date, become due and
payable within one year,

and, in any of the cases described in subparagraphs (A) or (B) above, the Company has irrevocably
deposited or caused to be deposited with the Trustee, as trust funds in trust for the purpose, (x)
an amount in money sufficient, (y) U.S. Government Obligations or Equivalent Government Securities
which through the payment of interest and principal in respect thereof in accordance with their
terms will provide, not later than one day before the due date of any payment, money sufficient, or
(z) a combination of (x) and (y) sufficient, in the opinion of a nationally recognized firm of
independent public accountants expressed in a written certification thereof delivered to the
Trustee, to pay and discharge the entire indebtedness on such Securities with respect to principal,
premium, if any, and interest, if any, to the date of such deposit (in the case of Securities of
such series which have become due and payable), or to the Scheduled Maturity Date; provided,
however, that if such U.S. Government Obligations or Equivalent Government Securities are callable
or redeemable at the option of the issuer thereof, the amount of such money, U.S. Government
Obligations, and Equivalent Government Securities deposited with the Trustee must be sufficient to
pay and discharge the entire indebtedness referred to above if such issuer elects to exercise such
call or redemption provisions at any time prior to the Scheduled Maturity Date. The Company, but
not the Trustee, shall be responsible for monitoring any such call or redemption provision; and

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

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

     Notwithstanding the satisfaction and discharge of this Indenture with respect to any series of
Securities, the obligations of the Company under paragraph (a) of this Section 3.01 and its

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obligations to the Trustee with respect to that series under Section 5.07 shall survive, and the
obligations of the Trustee under Sections 3.02, 3.04 and 8.03 shall survive. Funds held in trust
pursuant to this Section 3.01 are not subject to the provisions of Article 13.

     Section 3.02. Application of Trust Money; Excess Funds. All money and U.S. Government
Obligations or Equivalent Government Securities (including the proceeds thereof) deposited with the
Trustee pursuant to Section 3.01 hereof shall be held in trust and applied by it, in accordance
with the provisions of this Indenture and the Securities in respect of which it was deposited, to
the payment, either directly or through any Paying Agent (including the Company acting as its own
Paying Agent), as the Trustee may determine, to the Persons entitled thereto, of the principal,
premium, if any, interest, if any, and Make-Whole Payment, if any, for whose payment such money has
been deposited with the Trustee; but such money need not be segregated from other funds except to
the extent required by law. If applicable to a series of Securities as provided in Article 13,
funds and Securities held pursuant to this Section 3.02 shall not be subject to the claims of the
holders of Senior Debt under Article 13.

     The Company will pay and indemnify the Trustee against any tax, fee or other charge imposed on
or assessed against the cash or U.S. Government Obligations or Equivalent Government Securities
deposited pursuant to Section 3.01 hereof or the principal and interest received in respect thereof
other than any such tax, fee or other charge which by law is for the account of the Holders of the
Outstanding Securities.

     Anything in this Article 3 to the contrary notwithstanding, the Trustee shall deliver or pay
to the Company from time to time upon Company Request any money or U.S. Governmental Obligations or
Equivalent Government Securities held by it as provided in Section 3.01 which, in the opinion of a
nationally recognized investment bank, appraisal firm or firm of a nationally recognized firm of
independent public accountants expressed in a written certification thereof delivered to the
Trustee, (which may be the opinion delivered under Section 3.01), are in excess of the amount
thereof that would then be required to be deposited to effect an equivalent satisfaction and
discharge.

     Section 3.03. Paying Agent to Repay Moneys Held. Upon the satisfaction and discharge of this
Indenture, all moneys then held by any Paying Agent of the Securities of any series (other than the
Trustee) shall, upon demand of the Company, be repaid to it or paid to the Trustee, and thereupon
such Paying Agent shall be released from all further liability with respect to such moneys.

     Section 3.04. Return of Unclaimed Amounts. Any amounts deposited with or paid to the Trustee
or any Paying Agent or then held by the Company, in trust for payment of the principal of, premium,
if any, or interest, if any, on the Securities of any series and not applied but remaining
unclaimed by the Holders of such Securities for two years after the date upon which the principal
of, premium, if any, or interest, if any, on such Securities, as the case may be, shall have become
due and payable, shall be repaid to the Company by the Trustee on Company Request or (if then held
by the Company) shall be discharged from such trust; and the Holder of any of such Securities shall
thereafter look only to the Company for any payment which such Holder may be entitled to collect
(until such time as such unclaimed amounts shall escheat, if at all, to the State of New York) and
all liability of the Trustee or such Paying Agent with respect to such trust money, and all
liability of the Company as trustee thereof, shall thereupon cease. Notwithstanding the foregoing,
the Trustee or Paying Agent, before being required to make any such repayment, may at the expense
of the Company cause to be published once a week for two

30

 

successive weeks (in each case on any day
of the week) in a newspaper printed in the English language and customarily published at least once
a day at least five days in each calendar week and of general circulation in the Borough of
Manhattan, in the City and State of New York, a notice that said amounts have not been so applied
and that after a date named therein any unclaimed balance of said amounts then remaining will be
promptly returned to the Company.

ARTICLE 4

Remedies

     Section 4.01. Events of Default. “Event of Default”, wherever used herein, means with
respect to any series of Securities any one of the following events (whatever the reason for such
Event of Default and whether it shall be voluntary or involuntary or be effected by operation of
law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of
any administrative or governmental body), unless such event is either inapplicable to a particular
series or it is specifically deleted or modified in the manner contemplated by Article 2:

     (a) default in the payment of any interest on any Security of such series when it becomes due
and payable, or in the payment of the Make-Whole Amount when due and payable, and continuance of
such default for a period of 30 days; or

     (b) default in the payment of the principal amount of (or premium, if any, on) any Security of
such series as and when the same shall become due, either at Maturity, upon redemption, by
declaration, or otherwise; or

     (c) failure by the Company to give the Company Notice in accordance with Section 12.02; or

     (d) default in the performance, or breach, of any covenant of the Company or any Subsidiary in
this Indenture in respect of the Securities of such series (other than a covenant or warranty in
respect of the Securities of such series a default in the performance or breach of which is
specifically dealt with elsewhere in this Section 4.01), and continuance of such default or breach
for a period of ninety (90) days after there has been given, by registered or certified mail, to
the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in the
principal amount of the Outstanding Securities of such series, a written notice specifying such
default or breach and requiring it to be remedied and stating that such notice is a “Notice of
Default” hereunder; or

     (e) default in the payment when due of the principal of any indebtedness under any bond,
debenture, note or other evidence of indebtedness for money borrowed by the Company or any
Significant Subsidiary, if any, in excess of U.S.$2,000,000, whether such indebtedness now exists
or shall hereafter be created, if the indebtedness is not discharged and such default continues for
a period of thirty (30) days or more, or if such indebtedness has been accelerated, such
acceleration is not annulled, within a period of thirty (30) days after there shall have been
given, by registered or certified mail, to the Company by the Trustee or to the Company and the
Trustee by the Holders of at least $1,000,000 in aggregate principal amount of the Outstanding
Securities a written notice specifying such default and requiring the Company to cause such
indebtedness to be discharged or such acceleration to be rescinded or annulled and stating that
such notice is a “Notice of Default” hereunder;

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     (f) the entry by a court having jurisdiction in the premises of (1) a decree or order for
relief in respect of the Company or any Significant Subsidiary in an involuntary case or proceeding
under any applicable federal or state bankruptcy, insolvency, reorganization or other similar law
or (2) a decree or order adjudging the Company or any Significant Subsidiary a bankrupt or
insolvent, or approving as properly filed a petition seeking reorganization, arrangement,
adjustment or composition of or in respect of the Company or any Significant Subsidiary under any
applicable federal or state law, or appointing a custodian, receiver, liquidator, assignee,
trustee, sequestrator or other similar official of the Company or any Significant Subsidiary or of
any substantial part of its property, or ordering the winding up or liquidation of its affairs, and
the continuance of any such decree or order for relief or any such other decree or order unstayed
and in effect for a period of 90 consecutive 
days; or

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

     (h) any other Event of Default provided for with respect to the Securities of such series in
accordance with Section 2.01.

     A default under any indebtedness of the Company other than the Securities will not constitute
an Event of Default under this Indenture, and a default under one series of Securities will not
constitute a default under any other series of Securities.

     Section 4.02. Acceleration of Maturity; Rescission, and Annulment. If any Event of Default
described in Section 4.01 above (other than an Event of Default described in Section 4.01(f) and
Section 4.01(g)) shall have occurred and be continuing, with respect to any series then and in each
and every such case, unless the aggregate principal amount of all the Securities of such series
shave already become due and payable, either the Trustee or the Holders of at least 25% in
aggregate principal amount of the Securities of such series then Outstanding hereunder, by notice
in writing to the Company (and to the Trustee if given by Holders), may declare the principal
amount of all the Securities of such series and any and all accrued interest thereon to be due and
payable immediately, and upon any such declaration the same shall become and shall be immediately
due and payable, any provision of this Indenture or the Securities of such series to the contrary
notwithstanding. If an Event of Default specified in Section 4.01(f) or Section 4.01(g) occurs,
the principal amount of the Securities of such series and any and all accrued interest thereon
shall immediately become and be due and payable without any declaration or other act on the part of
the Trustee or any Holder. No declaration of acceleration by the Trustee with respect to any
series of Securities shall constitute a declaration of acceleration by the Trustee

32

 

with respect to
any other series of Securities, and no declaration of acceleration by the Holders of at least 25%
in aggregate principal amount of the Outstanding Securities of any series shall constitute a
declaration of acceleration or other action by any of the Holders of any other series of
Securities, in each case whether or not the Event of Default on which such declaration is based
shall have occurred and be continuing with respect to more than one series of Securities, and
whether or not any Holders of the Securities of any such affected series shall also be Holders of
Securities of any other such affected series.

     At any time after such a declaration of acceleration has been made and before a judgment or
decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article
provided, the Holders of a majority in aggregate principal amount of the Outstanding Securities of
such series, by written notice to the Company and the Trustee, may rescind and annul such
declaration and its consequences if all Events of Default with respect to such series of
Securities, other than the nonpayment of the principal of the Securities which have become due
solely by such acceleration, have been cured or waived as provided in Section 4.13, if such cure or
waiver does not conflict with any judgment or decree set forth in Section 4.01(f) and Section
4.01(g) and if all sums paid or advanced by the Trustee hereunder and the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel have been paid.

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

     Section 4.03. Collection of Indebtedness and Suits for Enforcement by Trustee. The Company
covenants that if:

     (a) default is made in the payment of any installment of interest on any Security of any
series when such interest becomes due and 
payable, or

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

then, with respect to the Securities of such series, the Company will, upon demand of the Trustee,
pay to it, for the benefit of the Holder of any such Security, the whole amount then due and
payable on any such Security for principal (and premium, if any) and interest, if any, with
interest (to the extent that payment of such interest shall be legally enforceable) upon the
overdue principal (and premium, if any) and upon overdue installments of interest, if any, at such
rate or rates as may be prescribed therefor by the terms of any such Security; and, in addition
thereto, such further amount as shall be sufficient to cover the costs and expenses of collection,
including the reasonable compensation, expenses, disbursements and advances of the Trustee, its
agents and counsel and all other amounts due the Trustee under Section 5.07.

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

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

     Section 4.04. Trustee May File Proofs of Claim. In case of the pendency of any receivership,
insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition, or other
judicial proceeding relative to the Company or any other obligor upon the Securities of any series
or the property of the Company or of such other obligor or their creditors, the Trustee
(irrespective of whether the principal of the Securities of any series shall then be due and
payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee
shall have made any demand on the Company for the payment of overdue principal or interest) shall
be entitled and empowered, by intervention in such proceedings or otherwise,

     (a) to file and prove a claim for the whole amount of principal, premium, if any, and
interest, if any, owing and unpaid in respect of the Securities of any series, and to file such
other papers or documents as may be necessary and advisable in order to have the claims of the
Trustee (including any claim for the reasonable compensation, expenses, disbursements, and advances
of the Trustee, its agents and counsel, and all other amounts due the Trustee under Section 5.07)
and of the Holders allowed in such judicial proceedings, and

     (b) to collect and receive any moneys or other property payable or deliverable on any such
claims and to distribute the same; and any receiver, assignee, trustee, liquidator, sequestrator
(or other similar official) in any such judicial proceeding is hereby authorized by each Holder to
make such payments to the Trustee, and in the event that the Trustee shall consent to the making of
such payments directly to the Holders, to pay to the Trustee any amount due to it for the
reasonable compensation, expenses, disbursements and advances of the Trustee and its agent and
counsel, and any other amounts due the Trustee under Section 5.07 hereof.

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

     Section 4.05. Trustee May Enforce Claims Without Possession of Securities. All rights of
action and claims under this Indenture or the Securities of any series may be prosecuted and
enforced by the Trustee without the possession of any of the Securities of such series or the
production thereof in any proceeding relating thereto, and any such proceeding instituted by the
Trustee shall be brought in its own name as trustee of an express trust, and any recovery of
judgment shall, after provision for the payment of the reasonable compensation, expenses,
disbursements and advances of the Trustee and its agents and counsel, be for the ratable benefit of
the Holders of the Securities, of such series in respect of which such judgment has been recovered.

     Section 4.06. Application of Money Collected. Any money collected by the Trustee with
respect to a series of Securities pursuant to this Article shall be applied in the following order,
at the date or dates fixed by the Trustee and, in case of the distribution of such money on account
of principal, premium, if any, or interest, if any, upon presentation of the Securities of such
series

34

 

and the notation thereon of the payment, if only partially paid, and upon surrender thereof,
if fully paid:

     First: To the payment of all amounts due the Trustee under Section 5.07 hereof.

     Second: To the payment of the amounts then due and unpaid upon the Securities of that series
for principal, premium, if any, interest, if any, and additional amounts, if any, in respect of
which or for the benefit of which such money has been collected, ratably, without preference or
priority of any kind.

     Section 4.07. Limitation on Suits. No Holder of any Security of any series shall have any
right to institute any proceeding, judicial or otherwise, with respect to this Indenture, or for
the appointment of a receiver or trustee, or for any other remedy hereunder, unless

     (a) such Holder has previously given written notice to the Trustee of a continuing Event of
Default with respect to Securities of such series;

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

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

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

     (e) no direction inconsistent with such written request has been given to the Trustee during
such 60-day period by the Holders of a majority in principal amount of the Outstanding Securities
of such series; it being understood and intended that no one or more Holders of Securities of such
series shall have any right in any manner whatever by virtue of, or by availing of, any provision
of this Indenture to affect, disturb or prejudice the rights of any other Holders of Securities of
such series (it being understood that the Trustee does not have an affirmative duty to ascertain
whether or not such actions or forbearances are prejudicial to such Holders), or to obtain or to
seek to obtain priority or preference over any other such Holders or to enforce any right under
this Indenture, except in the manner herein provided and for the equal and proportionate benefit of
all the Holders of all Securities of such series.

     Section 4.08. Unconditional Right of Holders to Receive Principal, Premium, and Interest and
to Convert. Notwithstanding any other provision in this Indenture, the Holder of any Security
shall have the right, which is absolute and unconditional, to receive payment of the principal,
premium, if any, and (subject to Section 2.11) interest, if any) on such Security on or after the
respective payment dates expressed in such Security (or, in the case of repurchase, on the
Repurchase Date, as the case may be) and to convert such Security in accordance with Article 10,
and to institute suit for the enforcement of any such payment on or after such respective date, and
such right shall not be impaired or affected without the consent of such Holder.

     Section 4.09. Restoration of Rights and Remedies. If the Trustee or any Holder has
instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding
has been discontinued or abandoned for any reason, then and in every such case the

35

 

Company, the
Trustee and the Holders shall, subject to any determination in such proceeding, be restored
severally and respectively to their former positions hereunder, and thereafter all rights and
remedies of the Trustee and the Holders shall continue as though no such proceeding had been
instituted.

     Section 4.10. Rights and Remedies Cumulative. No right or remedy herein conferred upon or
reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy,
and every right or remedy shall, to the extent permitted by law, be cumulative and in addition to
every other right and remedy given hereunder or now or hereafter existing at law or in equity or
otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not
prevent the concurrent assertion or employment of any other appropriate right or remedy.

     Section 4.11. Delay or Omission Not Waiver. No delay or omission of the Trustee or of any
Holder of any Security to exercise any right or remedy accruing upon any Event of Default shall
impair any such right or remedy or constitute a waiver of any such Event of Default or an
acquiescence therein. Every right and remedy given by this Article or by law to the Trustee or to
the Holders may be exercised from time to time, and as often as may be deemed expedient, by the
Trustee or by the Holders, as the case may be.

     Section 4.12. Control by Holders. The Holders of a majority in principal amount of the
Outstanding Securities of any series shall have the right to direct the time, method and place of
conducting any proceeding for any remedy available to the Trustee or exercising any trust or power
conferred on the Trustee with respect to the Securities of such series; provided that

     (a) the Trustee shall have the right to decline to follow any such direction if the Trustee,
being advised by counsel, determines that the action so directed may not lawfully be taken or would
conflict with this Indenture or if the Trustee in good faith shall, by a Responsible Officer,
determine that the proceedings so directed would involve it in personal liability or be unjustly
prejudicial to the Holders not taking part in such direction, and

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

     Section 4.13. Waiver of Past Defaults. The Holders of not less than a majority in principal
amount of the Outstanding Securities of any series may, on behalf of the Holders of all the
Securities of such series, waive any past default hereunder with respect to such series and its
consequences, except a default not theretofore cured:

     (a) in the payment of principal, premium, if any, or interest, the Make-Whole Payment or the
Repurchase Price, if any, on any Security of such series, or

     (b) in respect of a covenant or provision in this Indenture which, under Article 7 hereof,
cannot be modified or amended without the consent of the Holder of each Outstanding Security of
such series.

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

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     Section 4.14. Undertaking for Costs. All parties to this Indenture agree, and each Holder of
any Security by his acceptance thereof shall be deemed to have agreed, that any court may in its
discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or
in any suit against the Trustee for any action taken or omitted by it as Trustee, the filing by any
party litigant in such suit of an undertaking to pay the costs of such suit, and that such court
may in its discretion assess reasonable costs, including reasonable attorneys’ fees, against any
party litigant in such suit, having due regard to the merits and good faith of the claims or
defenses made by such party litigant; but the provisions of this Section shall not apply to any
suit instituted by the Trustee, to any suit instituted by any Holder of any Security or group of
Holders holding in the aggregate more than 10% in principal amount of the Outstanding Securities of
any series to which the suit relates, or to any suit instituted by any Holder for the enforcement
of the payment of principal, premium, if any, or interest, if any, on any Security on or after the
respective payment dates expressed in such Security (or, in the case of redemption or repayment, on
or after the Repurchase Date) or for the enforcement of the right to convert any Security in
accordance with Article 10.

     Section 4.15. Waiver of Stay or Extension Laws. The Company covenants (to the extent that it
may lawfully do so) that it will not at any time insist upon, or plead, or in any manner whatsoever
claim or take the benefit or advantage of, any stay or extension law (other than any bankruptcy
law) wherever enacted, now or at any time hereafter in force, which may affect the covenants or the
performance of this Indenture; and the Company (to the extent that it may lawfully do so) hereby
expressly waives all benefit or advantage of any such law, and covenants that it will not hinder,
delay or impede the execution of any power herein granted to the Trustee, but will suffer and
permit the execution of every such power as though no such law had been enacted.

ARTICLE 5

The Trustee

     Section 5.01. Certain Duties and Responsibilities of Trustee. (a) Except during the
continuance of an Event of Default with respect to any series of Securities,

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

     (ii) in the absence of bad faith on its part, the Trustee may, with respect to
Securities of such series, conclusively rely, as to the truth of the statements and
correctness of the opinions expressed therein, upon certificates or opinions furnished to
the Trustee and conforming to the requirements of this Indenture; but in the case of any
such certificates or opinions which by any provision hereof are specifically required to be
furnished to the Trustee, the Trustee shall be under a duty to examine the same to
determine whether or not they conform to the requirements of this Indenture (but need not
confirm or investigate the accuracy of mathematical calculations or other facts stated
therein).

     (b) In case an Event of Default with respect to any series of Securities has occurred and is
continuing, the Trustee shall exercise, with respect to the Securities of such series, such of the
rights and powers vested in it by this Indenture, and use the same degree of care and skill in

37

 

their exercise, as a prudent man would exercise or use under the circumstances in the conduct of
his own affairs.

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

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

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

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

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

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

     Section 5.02. Notice of Defaults. Within 90 days after the occurrence of any default
hereunder with respect to Securities of any series, the Trustee shall transmit by mail to all
Holders of Securities of such series, as their names and addresses appear in the Security Register,
notice of such default hereunder known to the Trustee, unless such default shall have been cured or
waived; provided, however, that, except in the case of a default in the payment of the principal,
premium, if any, or interest, if any, on any Security of such series or in the payment of any
sinking or purchase fund installment or analogous obligation with respect to Securities of such
series, the Trustee shall be protected in withholding such notice if and so long as the board of
directors, the executive committee or a trust committee of directors and/or Responsible Officers of
the Trustee in good faith determine that the withholding of such notice is in the interests of the
Holders of Securities of such series and; provided, further, that, in the case of any default of
the character specified in Section 4.01(d), no such notice to Holders of such series shall be given
until at least 60 days after the occurrence thereof. For the purpose of this Section, the term
“default”, with respect to Securities of any series, means any event which is, or after notice or
lapse of time or both would become, an Event of Default with respect to Securities of such series.

     Section 5.03. Certain Rights of Trustee. Except as otherwise provided in Section 6.01 above:

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

     (b) any request, direction or order of the Company mentioned herein shall be sufficiently
evidenced by a Company Request or Company Order and any resolution of the Board of Directors may be
sufficiently evidenced by a Board Resolution;

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

     (d) the Trustee may consult with counsel and any Opinion of Counsel shall be full and complete
authorization and protection in respect of any action taken, suffered or omitted by it hereunder in
good faith and in reliance thereon;

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

     (f) the Trustee shall not be bound to make any investigation into the facts or matters stated
in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction,
consent, order, bond, debenture or other paper or document, but the Trustee, in its discretion, may
make such further inquiry or investigation into such facts or matters as it may see
fit, and, if the Trustee shall determine to make such further inquiry or investigation, it
shall be entitled to examine the books, records and premises of the Company, personally or by agent
or attorney at the sole cost of the Company and shall incur no liability or additional liability of
any kind by reason of such inquiry or investigation;

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

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

     (i) in no event shall the Trustee be responsible or liable for special, indirect, or
consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit)
irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and
regardless of the form of action;

     (j) the Trustee shall not be deemed to have notice of any Default or Event of Default unless a
Responsible Officer of the Trustee has actual knowledge thereof or unless written notice

39

 

of any
event which is in fact such a default is received by the Trustee at the Corporate Trust Office of
the Trustee, and such notice references the Securities and this Indenture;

     (k) the rights, privileges, protections, immunities and benefits given to the Trustee,
including, without limitation, its right to be indemnified, are extended to, and shall be
enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and
other Person employed to act hereunder (including, but not limited to, in its capacity as
Conversion Agent); and

     (l) the Trustee may request that the Company deliver a certificate setting forth the names of
individuals and/or titles of officers authorized at such time to take specified actions pursuant to
this Indenture.

     Section 5.04. Not Responsible for Recitals or Issuance of Securities. The recitals contained
herein and in the Securities, except the certificates of authentication, shall be taken as the
statements of the Company, and the Trustee assumes no responsibility for their correctness. The
Trustee makes no representations as to the validity or sufficiency of this Indenture or of the
Securities or of the Common Stock issuable upon the conversion of the Securities. The Trustee
shall not be accountable for the use or application by the Company of Securities or the proceeds
thereof.

     Section 5.05. May Hold Securities. The Trustee or any Paying Agent, Security Registrar,
Conversion Agent or other agent of the Company, in its individual or any other capacity, may become
the owner or pledgee of Securities and, subject to Section 5.08 and Section 5.13 hereof, may
otherwise deal with the Company with the same rights it would have if it were not Trustee, Paying
Agent, Security Registrar, Conversion Agent or such other agent.

     Section 5.06. Money Held in Trust. Money held by the Trustee in trust hereunder need not be
segregated from other funds except to the extent required by law. The Trustee shall be
under no liability for interest on any money received by it hereunder except as otherwise
agreed with the Company.

     Section 5.07. Compensation and Reimbursement. The Company covenants and agrees:

     (a) to pay the Trustee from time to time, and the Trustee shall be entitled to, such
compensation as the Company and the Trustee shall from time to time agree in writing for all
services rendered by it hereunder (which compensation shall not be limited by any provision of law
in regard to the compensation of a trustee of an express trust);

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

     (c) to indemnify each of the Trustee or any predecessor Trustee and their agents for, and to
hold them harmless against, any and all loss, damage, claims, liability or expense, including taxes
(other than taxes based upon, measured by or determined by the income of the Trustee), arising out
of or in connection with the acceptance or administration of the trust or trusts hereunder,
including the costs and expenses of defending itself against any claim (whether

40

 

asserted by the
Company, or any Holder or any other Person) or liability in connection with the exercise or
performance of any of its powers or duties hereunder, or in connection with enforcing the
provisions of this Section, except to the extent that such loss, damage, claim, liability or
expense is due to its own negligence or bad faith.

     Without prejudice to any other rights available to the Trustee under applicable law, when the
Trustee incurs expenses or renders services in connection with an Event of Default specified in
Section 5.01(f) and Section 5.01(g) above, such expenses (including the reasonable charges and
expenses of its counsel) and compensation for such services are intended to constitute expenses of
administration under any applicable Federal or State bankruptcy, insolvency, reorganization, or
other similar law.

     The Trustee shall have a lien prior to the Securities upon all property and funds held or
collected by it as such for any amount owing to it or any predecessor Trustee pursuant to this
Section 5.07, except with respect to funds held in trust for the benefit of the Holders of
particular Securities.

     The provisions of this Section shall survive the satisfaction and discharge of this Indenture
and the termination or resignation of the Trustee.

     Section 5.08. Disqualification; Conflicting Interests. If the Trustee has or shall acquire
any conflicting interest within the meaning of the Trust Indenture Act, it shall either eliminate
such interest or resign as Trustee with respect to one or more series of Securities, to the extent
and in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this
Indenture.

     Section 5.09. Corporate Trustee Required; Eligibility. There shall at all times be a Trustee
hereunder with respect to each series of Securities that shall be a corporation organized and doing
business under the laws of the United States of America or of any State or Territory thereof or of
the District of Columbia, authorized under such laws to exercise corporate trust
powers, having a combined capital and surplus of at least $50,000,000, and subject to
supervision or examination by Federal or State authority and having its principal office and place
of business in the City of New York, if there be such a corporation having its principal office and
place of business in said City and willing to act as Trustee on customary and usual terms. If such
corporation publishes reports of condition at least annually, pursuant to law or to the
requirements of the aforesaid supervising or examining authority, then for the purposes of this
Section, the combined capital and surplus of such corporation shall be deemed to be its combined
capital and surplus as set forth in its most recent report of condition so published. If at any
time the Trustee with respect to any series of Securities shall cease to be eligible in accordance
with the provisions of this Section, it shall resign immediately in the manner and with the effect
hereinafter specified in this Article.

     Section 5.10. Resignation and Removal; Appointment of Successor. (a) No resignation or
removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall
become effective until the acceptance of appointment by the successor Trustee under Section 5.11.

     (b) The Trustee may resign with respect to any one or more series of Securities at any time by
giving at least 60 days’ written notice thereof to the Company. If an instrument of acceptance by
a successor Trustee shall not have been delivered to the Trustee within 30 days

41

 

after the giving of
such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction
for the appointment of a successor Trustee.

     (c) The Trustee may be removed with respect to any series of Securities at any time by Act of
the Holders of 66 2/3% in principal amount of the Outstanding Securities of that series, delivered
to the Trustee and to the Company.

     (d) If at any time:

     (i) the Trustee shall fail to comply with Section 5.08 with respect to any series of
Securities after written request therefor by the Company or by any Holder who has been a
bona fide Holder of a Security of that series for at least 6 months, or

     (ii) the Trustee shall cease to be eligible under Section 5.09 with respect to any
series of Securities and shall fail to resign after written request therefor by the Company
or by any such Holder, or

     (iii) the Trustee shall become incapable of acting, or shall be adjudged a bankrupt or
insolvent or a receiver of the Trustee or of its property shall be appointed or any public
officer shall take charge or control of the Trustee or of its property or affairs for the
purpose of rehabilitation, conservation or liquidation, then, in any such case subject to
Section 4.14, any Holder who has been a bona fide Holder of a Security of such series for
at least 6 months may, on behalf of himself and all others similarly situated, petition any
court of competent jurisdiction for the removal of the Trustee and the appointment of a
successor Trustee with respect to such series of Securities or, in the case of this clause
(iii), with respect to all series of Securities.

     (e) If the Trustee shall resign, be removed or become incapable of acting with respect to any
series of Securities, or if a vacancy shall occur in the office of Trustee with respect to any
series of Securities for any cause, the Company shall promptly appoint a successor Trustee for that
series of Securities. If, within one year after such resignation, removal or incapacity, or
the occurrence of such vacancy, a successor Trustee with respect to such series of Securities
shall be appointed by Act of the Holders of 66 2/3% in principal amount of the Outstanding
Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee
so appointed shall, forthwith upon its acceptance of such appointment, become the successor Trustee
with respect to such series and supersede the successor Trustee appointed by the Company with
respect to such series. If no successor Trustee with respect to Securities of such series shall
have been so appointed by the Company or the Holders of Securities of such series and accepted
appointment in the manner hereinafter provided, any Holder who has been bona fide Holder of a
Security of that series for at least 6 months may, on behalf of himself and all others similarly
situated, petition any court of competent jurisdiction for the appointment of a successor Trustee
with respect to Securities of such series.

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

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     Section 5.11. Acceptance of Appointment by Successor. Every successor Trustee appointed
hereunder with respect to all series of Securities shall execute, acknowledge and deliver to the
Company and to the predecessor Trustee an instrument accepting such appointment, and thereupon the
resignation or removal of the predecessor Trustee shall become effective, and such successor
Trustee, without any further act, deed or conveyance, shall become vested with all the rights,
powers, trusts and duties of the predecessor Trustee with respect to any Securities of such series;
but, on request of the Company or the successor Trustee, such predecessor Trustee shall, upon
payment of its reasonable charges (including, but not limited to, attorneys’ fees and expenses), if
any, execute and deliver an instrument, in form and substance reasonably satisfactory to the
predecessor Trustee, transferring to such successor Trustee all the rights, powers and trusts of
the predecessor Trustee, and shall duly assign, transfer and deliver to such successor Trustee all
property and money held by such predecessor Trustee hereunder.

     Upon request of any such successor Trustee, the Company shall execute any and all instruments
for more fully and certainly vesting in and confirming to such successor Trustee all rights, powers
and trusts referred to above.

     No successor Trustee with respect to any series of Securities shall accept its appointment
unless at the time of such acceptance such successor Trustee shall be qualified and eligible with
respect to that series under this Article.

     Section 5.12. Merger, Conversion, Consolidation or Succession to Business. Any corporation
into which the Trustee may be merged or converted or with which it may be consolidated, or any
corporation resulting from any merger, conversion or consolidation to which the Trustee shall be a
party, or any corporation succeeding to all or substantially all of the corporate trust business of
the Trustee, shall be the successor of the Trustee hereunder; provided that such corporation shall
be otherwise qualified and eligible under this Article, without the execution or filing of any
paper or any further act on the part of any of the parties hereto. In case any Securities shall
have been authenticated, but not delivered, by the Trustee then in office, any successor Trustee by
merger, conversion or consolidation to such authenticating Trustee may adopt such authentication
and deliver the Securities so authenticated with the same effect as if such successor Trustee had
itself authenticated such Securities.

     Section 5.13. Preferential Collection of Claims Against Company. If and when the Trustee
shall be or shall become a creditor, of the Company (or of any other obligor upon the Securities),
the Trustee shall be subject to the provisions of the Trust Indenture Act regarding the collection
of claims against the Company (or against any such other obligor, as the case may be).

     Section 5.14. Appointment of Authenticating Agent. At any time when any of the Securities
remain Outstanding, the Trustee, with the approval of the Company, may appoint an Authenticating
Agent or Agents with respect to one or more series of the Securities which shall be authorized to
act on behalf of the Trustee to authenticate Securities of such series issued upon exchange,
registration of transfer or partial redemption thereof or pursuant to Section 2.10, and Securities
so authenticated shall be entitled to the benefits of this Indenture and shall be valid and
obligatory for all purposes as if authenticated by the Trustee hereunder. Wherever reference is
made in this Indenture to the authentication and delivery of Securities by the Trustee or the
Trustee’s certificate of authentication, such reference shall be deemed to include authentication
and delivery on behalf of the Trustee by an Authenticating Agent and a certificate of
authentication executed on behalf of the Trustee by an Authenticating Agent. Each Authenticating
Agent shall be acceptable to the Company and shall at all times be a corporation

43

 

organized and doing business under the laws of the United States of America, any State thereof or the District of
Columbia, authorized under such laws to act as an Authenticating Agent, having a combined capital
and surplus of not less than $50,000,000 and, if other than the Company itself, subject to
supervision or examination by Federal or State authority. If such Authenticating Agent publishes
reports of condition at least annually, pursuant to law or to the requirements of said supervising
or examining authority, then for the purposes of this Section, the combined capital and surplus of
such Authenticating Agent shall be deemed to be its combined capital and surplus as set forth in
its most recent report of condition so published. If at any time an Authenticating Agent shall
cease to be eligible in accordance with the provisions of this Section, such Authenticating Agent
shall resign immediately in the manner and with the effect specified in this Section.

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

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

     The Company agrees to pay to each Authenticating Agent from time to time reasonable
compensation for its services under this Section.

     If an appointment with respect to one or more series is made pursuant to this Section, the
Securities of such series may have endorsed thereon, in addition to the Trustee’s certificate of
authentication, an alternate certificate of authentication in the following form:

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

	 	 	 	 	 	 	 
	 

	 	 	 	 	, as Trustee
	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	As Authenticating Agent	 	 

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	 	By:	 	 	 	 
	 

	 	 	 	Authorized Signatory	 	 

ARTICLE 6

Consolidation, Merger, Conveyance, Transfer Or Lease

     Section 6.01. Company May Consolidate, Etc., Only on Certain Terms.

     Without the consent or affirmative vote of at least a majority of the Holders of each
Outstanding Security, the Company shall not consolidate with or merge into any other Person or
convey, transfer, sell or lease its properties and assets substantially as an entirety to any
Person, and the Company shall not permit any Person to consolidate with or merge into it or convey,
transfer, sell or lease such Person’s properties and assets substantially as an entirety to it,
unless:

     (a) the Company is the surviving person or the Person formed by such consolidation or into
which the Company is merged, or the Person to which the Company’s properties and assets are
conveyed, transferred, sold or leased, shall be (1) a corporation, limited liability company,
partnership or trust organized and validly existing under the laws of the United States of America,
any state thereof or the District of Columbia or (2) organized under the laws of a jurisdiction
outside the United States of America and have common stock or American Depository Shares
representing such common stock traded on a national securities exchange in the United States,
including The Nasdaq Stock Market, Inc., and, in each case, if other than the Company, shall
expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee, in
form reasonably satisfactory to the Trustee, the due and punctual payment of the principal of,
premium, if any, and interest on all of the Securities, and the performance or observance of every
covenant of this Indenture on the part of the Company to be performed or observed;

     (b) immediately after giving effect to such transaction, no Event of Default, and no event
that, after notice or lapse of time or both, would become an Event of Default, shall have occurred
and be continuing; and

     (c) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that such consolidation, merger, conveyance, transfer or lease and, if a
supplemental indenture is required in connection with such transaction, such supplemental
indenture, comply with this Article 4 and that all conditions precedent herein provided for
relating to such transaction have been complied with, together with any documents required under
Section 7.03.

     Section 6.02. Successor Substituted.

     Upon any consolidation of the Company with, or merger of the Company into, any other Person or
any conveyance, transfer of all or substantially all the assets of the Company in accordance with
Section 6.01, the successor Person formed by such consolidation or into which the Company is merged
or to which such conveyance or transfer is made shall succeed to, and be substituted for, and may
exercise every right and power of, the Company under this Indenture with the same effect as if such
successor Person had been named as the Company herein, and thereafter, except in the case of a
lease, the Company shall be relieved of all of its obligations and

45

 

covenants under this Indenture
and the Securities except with respect to any obligations that arise from, or are related to, such
transaction.

ARTICLE 7

Supplemental Indentures

     Section 7.01. Supplemental Indentures Without Consent of Holders. Without the consent of the
Holders of any or all series of Securities, the Company and the Trustee, at any time and from time
to time, may enter into one or more indentures supplemental hereto (which shall conform to the
provisions of the TIA as in force at the date of execution thereof), in form reasonably
satisfactory to the Trustee, for any of the following purposes:

     (a) to evidence the succession of another corporation to the Company, or successive
successions, and the assumption by any such successor of the covenants, agreements and obligations
of the Company herein and in the Securities; or

     (b) to add to the covenants of the Company such further covenants, restrictions or conditions
for the protection of the Holders of the Securities of any or all series of Securities as the
Company and the Trustee shall consider to be for the protection of the Holders of the Securities of
any or all series or to surrender any right or power herein conferred upon the Company (and if such
covenants or the surrender of such right or power are to be for the benefit of less than all series
of Securities, stating that such covenants are expressly being included or such surrenders are
expressly being made solely for the benefit of one or more specified series); or

     (c) to cure any ambiguity, to correct or supplement any provision herein which may be
inconsistent with any other provision herein or in any supplemental indenture, or to make any other
provisions with respect to matters or questions arising under this Indenture that do not adversely
affect the interests of the Holders of Securities of any series in any material respect; or

     (d) to add to this Indenture such provisions as may be expressly permitted by the TIA,
excluding, however, the provisions referred to in Section 316(a)(2) of the TIA as in effect at the
date as of which this instrument is executed or any corresponding provision in any similar federal
statute hereafter enacted; or

     (e) to add guarantors or co-obligors with respect to any series of Securities; or

     (f) to secure any series of Securities; or

     (g) to make provision with respect to the conversion rights of Holders of Securities of any
series pursuant to Article 10; or

     (h) to evidence and provide for the acceptance of appointment by another corporation as a
successor Trustee hereunder with respect to one or more series of Securities and to add to or
change any of the provisions of this Indenture as shall be necessary to provide for or facilitate
the administration of the trusts hereunder by more than one Trustee, pursuant to Section 5.11
hereof; or

     (i) to comply with the requirements of the Commission in connection with the qualification of
this Indenture under the TIA; or

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     (j) to make any change in any series of Securities that does not adversely affect in any
material respect the interests of the Holders of such Securities.

     Section 7.02. Supplemental Indentures With Consent of Holders. With the consent of the
Holders of not less than a majority in aggregate principal amount of the Outstanding Securities of
each series affected by such supplemental indenture or indentures, by Act of said Holders delivered
to the Company and the Trustee, the Company and the Trustee may from time to time and at any time
enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions
to or changing in any manner or eliminating any of the provisions of this Indenture or of any
supplemental indenture or of modifying in any manner the rights of the Holders of the Securities of
each such series under this Indenture; provided, however, that no such supplemental indenture,
amendment, modification or supplement shall, without the consent of the Holder of each Outstanding
Security of such series affected thereby:

     (a) change the Scheduled Maturity Date or the stated payment date of any payment of premium or
interest payable on any Security of such series, or reduce the principal amount thereof, or any
amount of interest or premium payable thereon, or

     (b) change the method of computing the amount of principal of any Security of such series or
any interest payable thereon on any date, or change any Place of Payment where, or the coin or
currency in which, any Security of such series or any payment of premium or interest thereon is
payable, or

     (c) impair the right to institute suit for the enforcement of any payment described in clauses
(a) or (b) on or after the same shall become due and payable, whether at Maturity or, in the case
of redemption or repayment, on or after the Repurchase Date; or

     (d) amend or modify the Company’s obligation to make or consummate a repurchase offer of any
series upon a Change in Control as required by Article 12; or

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

     (f) modify any of the provisions of this Section or Section 4.13, except to increase any such
percentage or to provide that certain other provisions of this Indenture cannot be modified or
waived without the consent of the Holder of each Outstanding Security of such series affected
thereby; provided, however, that this clause shall not be deemed to require the consent of any
Holder with respect to changes in the references to “the Trustee” and concomitant changes in this
Section, or the deletion of this proviso, in accordance with the requirements of Sections 5.11 and
7.01(h); or

     (g) modify the provisions of this Indenture with respect to the ranking of the Securities or
any series in a manner adverse to the Holders; or

     (h) except as permitted by Section 10.11, adversely affect the right to convert any Security
as provided in Article 10.

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

     It shall not be necessary for any Act of Holders under this Section 7.02 to approve the
particular form of any proposed supplemental indenture, but it shall be sufficient if such Act
shall approve the substance thereof.

     Section 7.03. Execution of Supplemental Indentures. Upon the written request of the Company
and upon filing with the Trustee of evidence of an Act of Holders as aforementioned, the Trustee
shall join with the Company in the execution of such supplemental indenture unless such
supplemental indenture affects the Trustee’s own rights, powers, trusts, duties or immunities under
this Indenture or otherwise, in which case the Trustee may in its discretion, but shall not be
obligated to, enter into such supplemental indenture. In executing, or accepting the additional
trusts created by, any supplemental indenture permitted by this Article or the modifications
thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive, and
(subject to Section 5.01) shall be fully protected in relying upon, an Officers’ Certificate
pursuant to Section 1.02 hereof and an Opinion of Counsel pursuant to Section 1.02 hereof, each
setting forth the statements required by Section 1.02 and stating that the execution of such
supplemental indenture is authorized or permitted by this Indenture.

     Section 7.04. Effect of Supplemental Indentures. Upon the execution of any supplemental
indenture under this Article, this Indenture shall be and be deemed to be modified and amended in
accordance therewith, and such supplemental indenture shall form a part of this Indenture for all
purposes; and the respective rights, limitation of rights, duties, powers, trusts and immunities
under this Indenture of the Trustee, the Company, and every Holder of Securities theretofore or
thereafter authenticated and delivered hereunder shall be determined, exercised and enforced
thereunder to the extent provided therein.

     Section 7.05. Conformity With Trust Indenture Act. Every supplemental indenture executed
pursuant to this Article shall conform to the requirements of the TIA as then in effect.

     Section 7.06. Reference in Securities to Supplemental Indentures. Securities authenticated
and delivered after the execution of any supplemental indenture pursuant to this Article may, and
shall if required by the Trustee, bear a notation in form approved by the Trustee as to any matter
provided for in such supplemental indenture. If the Company shall so determine, new Securities so
modified as to conform, in the opinion of the Trustee and the Company, to any modification of this
Indenture contained in any such supplemental indenture may be prepared and executed by the Company
and authenticated and delivered by the Trustee in exchange for Outstanding Securities.

ARTICLE 8

Covenants

     Section 8.01. Payment of Principal, Premium and Interest. With respect to each series of
Securities, the Company covenants and agrees that it will duly and punctually pay or cause to be
paid the principal, premium, if any, and interest, if any, on such series of Securities in
accordance with their terms and this Indenture, and will duly comply with all the other terms,

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agreements and conditions contained in the Indenture for the benefit of the Securities of such
series.

     Section 8.02. Maintenance of Office or Agency. With respect to each series of Securities, so
long as any of the Securities remain outstanding, the Company will maintain an office or agency in
each Place of Payment where Securities of such series may be presented or surrendered for payment,
where Securities of such series may be surrendered for registration of transfer or exchange, where
Securities of such series may be surrendered for conversion, and where notices and demands to or
upon the Company in respect of the Securities of such series and this Indenture may be served. The
Company will give prompt written notice to the Trustee of the location, and of any change in the
location, of such office or agency. If at any time the Company shall fail to maintain such office
or agency or shall fail to furnish the Trustee with the address thereof, such presentations,
surrenders, conversions, notices and demands may be made or served at the Corporate Trust Office of
the Trustee, and the Company hereby appoints the Trustee its agent to receive all such
presentations, surrenders, notices and demands.

     Section 8.03. Money or Security Payments to Be Held in Trust. If the Company shall at any
time act as its own Paying Agent for any series of Securities, it will, on or before each due date
of the principal, premium, if any, or interest, if any, on any of the Securities of such series,
segregate and hold in trust for the benefit of the Holders of the Securities of such series a sum
sufficient to pay such principal, premium, or interest so becoming due until such sums shall be
paid to such Holders of such Securities or otherwise disposed of as herein provided, and will
promptly notify the Trustee, in writing, of its action or failure so to act.

     Whenever the Company shall have one or more Paying Agents for any series of Securities, it
will, on or prior to each due date of the principal, premium, if any, or interest, if any, on any
Securities of such series, deposit with a Paying Agent a sum sufficient to pay such principal,
premium, or interest so becoming due, such sum to be held in trust for the benefit of the Holders
of the Securities entitled to the same and (unless such Paying Agent is the Trustee) the Company
will promptly notify the Trustee, in writing, of its action or failure so to act.

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

     (a) hold all sums held by it for the payment of principal, premium, if any, or interest, if
any, on Securities of such series in trust for the benefit of the Holders of the Securities
entitled thereto until such sums shall be paid to such Holders of such Securities or otherwise
disposed of as herein provided;

     (b) give the Trustee written notice of any default by the Company (or any other obligor upon
the Securities of such series) in the making of any such payment of principal, premium, if any, or
interest, if any, on the Securities of such series; and

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

     The Company may, at any time, for the purpose of obtaining the satisfaction and discharge of
this Indenture with respect to any series of Securities or for any other purpose, pay, or by
Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the

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Company or such Paying Agent in respect of each and every series of Securities as to which it
seeks to discharge this Indenture or, if for any other purpose, all sums so held in trust by the
Company in respect of all Securities, such sums to be held by the Trustee upon the same trusts as
those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by
any Paying Agent to the Trustee, such Paying Agent shall be released from all further liability
with respect to such money.

     Section 8.04. Certificate to Trustee. The Company will deliver to the Trustee, within 120
days after the end of each fiscal year of the Company (beginning in 2009), an Officers’
Certificate, one of whose signatories shall be the Company’s principal executive, accounting or
financial officer, stating that in the course of the performance by the signers of their duties as
officers of the Company they would normally have knowledge of any default by the Company in the
performance of any of its covenants, conditions or agreements contained herein (without regard to
any period of grace or requirement of notice provided hereunder), stating whether or not they have
knowledge of any such default and, if so, specifying each such default of which the signers have
knowledge and the nature thereof.

     Section 8.05. Corporate Existence. Subject to Article 6, the Company will do or cause to be
done all things necessary to preserve and keep in full force and effect its corporate existence.

ARTICLE 9

Make-Whole Provision

     Section 9.01. Make-Whole Provision. If Article 10 is applicable to any series of Securities
as contemplated by Article 2, upon the conversion of any Security of such series pursuant to
Article 10 hereof prior to its Maturity, the Company will pay to the Holders of such Security of
such series so converted cash with respect to the Security of such series so converted in an amount
equal to U.S.$                     per $1,000 principal amount of such series, less the amount of any interest paid
on the Securities of such series before the relevant Conversion Date (the “Make-Whole Payment”).
The Company shall pay the Make-Whole Payment within five (5) New York Business Days of the
applicable Conversion Date.

ARTICLE 10

Conversion of Securities

     Section 10.01. Conversion Privilege and Conversion Rate. If Article 10 is applicable to any
series of Securities as contemplated by Article 2, subject to and upon compliance with the
provisions of this Article 10, at the option of the Holder thereof, any Security of such series or
any portion of the principal amount thereof that is U.S.$1,000 or an integral multiple of
U.S.$1,000 may be converted into fully paid and nonassessable shares (calculated as to each
conversion to the nearest 1/100th of a share) of Common Stock of the Company at the Conversion
Rate, determined as hereinafter provided, in effect at the time of conversion. Such conversion
right shall commence upon the original issuance of the Securities of such series and expire at the
close of business two (2) New York Business Days prior to the Maturity, unless such Security has
been previously repurchased, redeemed or converted, subject, in the case of conversion of any
Global Security, to any Applicable Procedures. In case the Holder of a Security of such series
exercises his right to require the Company to repurchase or redeem such Security, such conversion
right in respect of the Security of such series, or portion thereof so called, shall expire at the
close of business on the New York Business Day immediately

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preceding the Repurchase Date, unless the Company defaults in making the payment due upon
repurchase (in each case subject, as aforesaid, to any Applicable Procedures with respect to any
Global Security).

     The rate at which shares of Common Stock shall be delivered upon conversion (herein called the
“Conversion Rate”) shall be initially
                     shares of Common Stock for each U.S. $1,000
principal amount of Securities. The Conversion Rate shall be adjusted in certain instances as
provided in this Article 10.

     Section 10.02. Exercise of Conversion Privilege. In order to exercise the conversion
privilege, the Holder of any Security of any series to be converted shall surrender such Security,
duly endorsed or assigned to the Company or in blank, at any office or agency of the Company
maintained for that purpose pursuant to Section 8.02, accompanied by a duly signed and completed
Notice of Conversion stating that the Holder elects to convert such Security or, if less than the
entire principal amount thereof is to be converted, the portion thereof to be converted. Each
Security surrendered for conversion (in whole or in part) during the period from the close of
business on any Record Date next preceding any Interest Payment Date to the opening of business on
such Interest Payment Date shall be accompanied by payment in funds acceptable to the Company of an
amount equal to the interest payable on such Interest Payment Date on the principal amount of such
Security (or part thereof, as the case may be) being surrendered for conversion. The interest so
payable on such Interest Payment Date, with respect to any Security of any series (or portion
thereof, if applicable) that is surrendered for conversion during the period from the close of
business on any Record Date next preceding any Interest Payment Date to the opening of business on
such Interest Payment Date, shall be paid to the Holder of such Security as of such Record Date.
Interest payable in respect of any Security of any series surrendered for conversion on or after an
Interest Payment Date shall be paid to the Holder of such Security as of the next preceding Record
Date, notwithstanding the exercise of the right of conversion. Except as provided in this
paragraph, no cash payment or adjustment shall be made upon any conversion on account of any
interest accrued from the Interest Payment Date next preceding the Conversion Date, in respect of
any Security (or part thereof, as the case may be) surrendered for conversion, or on account of any
dividends on the Common Stock issued upon conversion. The Company’s delivery to the Holder of the
number of shares of Common Stock (and cash in lieu of fractions thereof as provided in Section
10.03 into which a Security is convertible and any rights pursuant to Section 10.04(m) will be
deemed to satisfy the Company’s obligation to pay the principal amount of the Security.

     Securities of any series shall be deemed to have been converted on the day of surrender of
such Securities for conversion in accordance with the foregoing provisions, and at such time the
rights of the Holders of such Securities as Holders shall cease, and the Person or Persons entitled
to receive the Common Stock issuable upon conversion shall be treated for all purposes as the
record holder or holders of such Common Stock at such time. As promptly as practicable on or after
the Conversion Date, the Company shall issue and deliver to the Conversion Agent, for delivery to
the Holder, a certificate or certificates for the number of full shares of Common Stock issuable
upon conversion, together with payment in lieu of any fraction of a share, as provided in Section
10.03.

     Neither the Trustee nor the Conversion Agent shall have any responsibility for the inclusion
or content of any restrictive legends on such Common Stock; provided, however, that the Trustee or
the Conversion Agent shall have provided to the Company or to the Company’s transfer agent for such
Common Stock, prior to or concurrently with a request to the Company to

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deliver such Common Stock, written notice that the Securities delivered for conversion are
Securities.

     In the case of any Security of any series that is converted in part only, upon such conversion
the Company shall execute and the Trustee shall authenticate and make available for delivery to the
Holder thereof, at the expense of the Company, a new Security or Securities of authorized
denominations in an aggregate principal amount equal to the unconverted portion of the principal
amount of such Security. A Security of any series may be converted in part, but only if the
principal amount of such Security to be converted is any integral multiple of U.S.$1,000 and the
principal amount of such security to remain Outstanding after such conversion is equal to
U.S.$1,000 or any integral multiple of U.S.$1,000 in excess thereof.

     Notwithstanding anything to the contrary contained herein, the number of Conversion Shares
that may be acquired by the Holder upon any conversion of the Securities (or otherwise in respect
hereof) shall be limited to the extent necessary to insure that, following such exercise (or other
issuance), the total number of shares of Common Stock then beneficially owned by such Holder and
its Affiliates and any other Persons whose beneficial ownership of Common Stock would be aggregated
with the Holder’s for purposes of Section 13(d) of the Exchange Act, does not exceed 4.99% of the
total number of issued and outstanding shares of Common Stock (including for such purpose the
shares of Common Stock issuable upon such conversion). For such purposes, beneficial ownership
shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and
regulations promulgated thereunder. This provision shall not restrict the number of shares of
Common Stock which a Holder may receive or beneficially own in order to determine the amount of
Securities or other consideration that such Holder may receive in the event of a Change in Control.
This restriction may not be waived.

     Unless and until the Conversion Agent receives an Officers’ Certificate from the Company
notifying the Trustee that, upon a conversion of Securities of any series, a Holder would own in
excess of 4.99% of the total number of issued and outstanding shares of Common Stock (including for
such purpose the shares of Common Stock issuable upon such conversion), the Trustee may assume
without inquiry (i) that no Holder owns or upon a conversion of Securities would own in excess of
that number and (ii) that each Holder is in compliance with the requirements of this Section 10.02.

     Section 10.03. Fractions of Shares. No fractional shares of Common Stock shall be issued
upon conversion of any Security or Securities of any series. If more than one Security shall be
surrendered for conversion at one time by the same Holder, the number of full shares that shall be
issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount
of the Securities of such series (or specified portions thereof) so surrendered. Instead of any
fractional share of Common Stock that would otherwise be issuable upon conversion of any Security
or Securities of any series (or specified portions thereof), the Company shall calculate and pay a
cash adjustment in respect of such fraction (calculated to the nearest 1/100th of a share) in an
amount equal to the same fraction of the Closing Price at the close of business on the day of
conversion.

     Section 10.04. Adjustment of Conversion Rate. The Conversion Rate shall be subject to
adjustments from time to time as follows:

     (a) In case the Company shall pay or make a dividend or other distribution on any class of
Capital Stock of the Company payable in shares of Common Stock, the Conversion Rate

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in effect at the opening of business on the day following the date fixed for the determination
of stockholders entitled to receive such dividend or other distribution shall be increased by
dividing such Conversion Rate by a fraction of which the numerator shall be the number of shares of
Common Stock outstanding at the close of business on the date fixed for such determination and the
denominator shall be the sum of such number of shares and the total number of shares constituting
such dividend or other distribution, such increase to become effective (subject to paragraph (l) of
this Section 10.04) immediately after the opening of business on the day following the date fixed
for such determination. For the purposes of this paragraph (a), the number of shares of Common
Stock at any time outstanding shall not include shares held in the treasury of the Company but
shall include shares issuable in respect of scrip certificates issued in lieu of fractions of
shares of Common Stock. The Company will not pay any dividend or make any distribution on shares
of Common Stock held in the treasury of the Company. In no event shall this paragraph (a) apply in
the case of an ordinary dividend.

     (b) In case the Company shall issue rights, options or warrants to all holders of its Common
Stock entitling them to subscribe for or purchase shares of Common Stock at a price per share less
than the current market price per share (determined as provided in paragraph (h) of this Section
10.04) of the Common Stock on the date fixed for the determination of stockholders entitled to
receive such rights, options or warrants (other than any rights, options or warrants (1) that by
their terms will also be issued to any Holder upon conversion of a Security into shares of Common
Stock without any action required by the Company or any other Person or (2) that are only
exercisable upon the occurrence of a specified triggering event and such triggering event has not
occurred), the Conversion Rate in effect at the opening of business on the day following the date
fixed for such determination shall be increased by dividing such Conversion Rate by a fraction of
which the numerator shall be the number of shares of Common Stock outstanding at the close of
business on the date fixed for such determination plus the number of shares of Common Stock which
the aggregate of the offering price of the total number of shares of Common Stock so offered for
subscription or purchase would purchase at such current market price and the denominator shall be
the number of shares of Common Stock outstanding at the close of business on the date fixed for
such determination plus the number of shares of Common Stock so offered for subscription or
purchase, such increase to become effective (subject to paragraph (l) of this 10.04) immediately
after the opening of business on the day following the date fixed for such determination. For the
purposes of this paragraph (b), the number of shares of Common Stock at any time outstanding shall
not include shares held in the treasury of the Company but shall include shares issuable in respect
of scrip certificates issued in lieu of fractions of shares of Common Stock. The Company will not
issue any rights, options or warrants in respect of shares of Common Stock held in the treasury of
the Company.

     (c) In case outstanding shares of Common Stock shall be subdivided into a greater number of
shares of Common Stock, the Conversion Rate in effect at the opening of business on the day
following the day upon which such subdivision becomes effective shall be proportionately increased,
and, conversely, in case outstanding shares of Common Stock shall each be combined into a smaller
number of shares of Common Stock, the Conversion Rate in effect at the opening of business on the
day following the day upon which such combination becomes effective shall be proportionately
reduced, such increase or reduction, as the case may be, to become effective immediately after the
opening of business on the day following the day upon which such subdivision or combination becomes
effective.

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     (d) In case the Company shall, by dividend or otherwise, distribute to all holders of its
Common Stock evidences of its Indebtedness, shares of any class of Capital Stock, or other property
(including cash or assets or securities, but excluding (1) any rights, options or warrants referred
to in paragraph (b) of this Section 10.04 and the distribution of rights to all holders of Common
Stock pursuant to the adoption of a stockholders’ rights plan or the detachment of such rights
under the terms of such stockholders’ rights plan, (2) any dividend or distribution paid in cash,
except as set forth in paragraphs (e) and (f) of this Section 10.04, (3) any dividend or
distribution referred to in paragraph (a) of this Section 10.04 and (4) any merger or consolidation
paid in cash to which Section 12.11 applies), the Conversion Rate shall be adjusted so that the
same shall equal the rate determined by dividing the Conversion Rate in effect immediately prior to
the close of business on the date fixed for the determination of stockholders entitled to receive
such distribution by a fraction of which the numerator shall be the current market price per share
(determined as provided in paragraph (h) of this Section 10.04) of the Common Stock on the date
fixed for such determination less the then fair market value (as determined by the Board of
Directors, whose determination shall be conclusive and described in a Board Resolution) of the
portion of the assets, shares or evidences of Indebtedness so distributed applicable to one share
of Common Stock and the denominator shall be such current market price per share (determined as
provided in Section 10.04(h)) of the Common Stock, such adjustment to become effective (subject to
paragraph (l) of this Section 10.04) immediately prior to the opening of business on the day
following the date fixed for the determination of stockholders entitled to receive such
distribution.

     If the Company implements a stockholders’ rights plan (the “New Rights Plan”), the Company
will provide under such New Rights Plan that the Holders of the Securities of any series of
Securities to which this Article 10 applies will receive, in addition to the Common Stock, the
rights under the New Rights Plan (whether or not the rights under the New Rights Plan have
separated from the Common Stock at the time of conversion), subject to any limitations set forth in
the New Rights Plan.

     (e) In case the Company shall, by dividend or otherwise, distribute to all holders of its
Common Stock cash (excluding cash portions of distribution referred to in Section 10.04(d) and any
cash that is distributed upon a merger or consolidation to which Section 10.11 applies) in an
aggregate amount that, combined together with (1) the aggregate amount of any other cash
distributions to all holders of its Common Stock made exclusively in cash within the 365-day period
preceding the date of payment of such distribution and in respect of which no adjustment pursuant
to this paragraph (e) has been made and (2) the aggregate of any cash plus the fair market value
(as determined by the Board of Directors, whose determination shall be conclusive and described in
a Board Resolution) of other consideration payable in respect of any tender offer by the Company or
any Subsidiary for all or any portion of the Common Stock concluded within the 365-day period
preceding the date of payment of such distribution and in respect of which no adjustment pursuant
to paragraph (f) of this Section 10.04 has been made (the “Combined Cash and Tender Amount”)
exceeds ten percent (10%) of the product of the current market price per share (determined as
provided in paragraph (h) of this Section 10.04) of the Common Stock on the date for the
determination of holders of shares of Common Stock entitled to receive such distribution times the
number of shares of Common Stock outstanding on such date (the “Aggregate Current Market Price”),
then, and in each such case, immediately after the close of business on such date for
determination, subject to paragraph (l) of Section 10.04, the Conversion Rate shall be adjusted so
that the same shall equal the rate determined by dividing the Conversion Rate in effect immediately
prior to the close of business on the date fixed for determination of the

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stockholders entitled to receive such distribution by a fraction (A) the numerator of which
shall be equal to the current market price per share (determined as provided in paragraph (h) of
this Section 10.04) of the Common Stock on the date fixed for such determination less an amount
equal to the quotient of (i) the excess of such Combined Cash and Tender Amount over ten percent
(10%) of such Aggregate Current Market Price divided by (ii) the number of shares of Common Stock
outstanding on such date fixed for determination and (B) the denominator of which shall be equal to
the current market price per share (determined as provided in paragraph (h) of this Section 10.04)
of the Common Stock on such date fixed for determination.

     (f) In case a tender offer made by the Company or any Subsidiary for all or any portion of the
Common Stock shall be completed for an aggregate consideration consisting of cash and/or property
having a fair market value (as determined by the Board of Directors, whose determination shall be
conclusive and described in a Board Resolution) that combined together with (1) the aggregate of
the cash plus the fair market value (as determined by the Board of Directors, whose determination
shall be conclusive and described in a Board Resolution), of other consideration payable in respect
of any other tender offer by the Company or any Subsidiary for all or any portion of the Common
Stock concluded within the 365-day period preceding the completion of such tender offer and in
respect of which no adjustment pursuant to this paragraph (f) has been made and (2) the aggregate
amount of any distributions to all holders of the Company’s Common Stock made exclusively in cash
within the 365-day period preceding the completion of such tender offer and in respect of which no
adjustment pursuant to paragraph (e) of this Section 10.04 has been made (the “Combined Tender and
Cash Amount”) exceeds ten percent (10%) of the product of the current market price per share of the
Common Stock (determined as provided in paragraph (h) of this Section 10.04) as of the completion
of such tender offer (the “Completion Date”) times the number of shares of Common Stock outstanding
(including any tendered shares) as of the Completion Date, then, and in each such case, immediately
prior to the opening of business on the day after the date of the Completion Date, the Conversion
Rate shall be adjusted so that the same shall equal the rate determined by dividing the Conversion
Rate immediately prior to close of business on the Completion Date by a fraction (A) the numerator
of which shall be equal to (i) the product of (x) the current market price per share of the Common
Stock (determined as provided in paragraph (h) of this Section 10.04) on the Completion Date
multiplied by (y) the number of shares of Common Stock outstanding (including any tendered shares)
on the Completion Date less (ii) the Combined Tender and Cash Amount, and (B) the denominator of
which shall be equal to the product of (x) the current market price per share of the Common Stock
(determined as provided in paragraph (h) of this Section 10.04) as of the Completion Date
multiplied by (y) the number of shares of Common Stock outstanding (including any tendered shares)
as of the Completion Date less the number of all shares validly tendered and not withdrawn as of
the Completion Date.

     (g) The reclassification of Common Stock into securities including other than Common Stock
(other than any reclassification upon a consolidation or merger to which Section 10.11 applies)
shall be deemed to involve (1) a distribution of such securities other than Common Stock to all
holders of Common Stock (and the effective date of such reclassification shall be deemed to be “the
date fixed for the determination of stockholders entitled to receive such distribution” and “the
date fixed for such determination” within the meaning of paragraph (d) of this Section 10.04), and
(2) a subdivision or combination, as the case may be, of the number of shares of Common Stock
outstanding immediately prior to such reclassification into the number of shares of Common Stock
outstanding immediately thereafter (and the effective date of such reclassification shall be deemed
to be “the day upon which such subdivision becomes effective”

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or “the day upon which such combination becomes effective”, as the case may be, and “the day
upon which such subdivision or combination becomes effective” within the meaning of paragraph (c)
of this Section 10.04).

     (h) For the purpose of any computation under paragraphs (b), (d), (e) or (f) of this Section
10.04, the current market price per share of Common Stock on any date shall be calculated by the
Company and be deemed to be the Volume Weighted Average Price for the Trading Day before the “ex
date” with respect to the issuance or distribution requiring such computation. For purposes of
this paragraph, the term “ex date,” when used with respect to any issuance or distribution, means
the first date on which the Common Stock trades regular way in the applicable securities market or
on the applicable securities exchange without the right to receive such issuance or distribution.

     (i) No adjustment in the Conversion Rate shall be required unless such adjustment (plus any
adjustments not previously made by reason of this paragraph (i)) would require an increase or
decrease of at least one percent in such rate; provided, however, that any adjustments which by
reason of this paragraph (i) are not required to be made shall be carried forward and taken into
account in any subsequent adjustment. All calculations under this Article 10 shall be made to the
nearest cent or to the nearest one-hundredth of a share, as the case may be.

     (j) The Company may make such increases in the Conversion Rate, for the remaining term of the
Securities or any shorter term, in addition to those required by paragraphs (a), (b), (c), (d), (e)
and (f) of this Section 10.04, as it considers to be advisable in order to avoid or diminish any
income tax liability to any holders of shares of Common Stock resulting from any dividend or
distribution of Common Stock or issuance of rights or warrants to purchase or subscribe for Common
Stock or from any event treated as such for income tax purposes.

     To the extent permitted by applicable law, the Company from time to time may increase the
Conversion Rate by any amount for any period of time if the period is at least twenty (20) days and
the Board of Directors shall have made a determination that such increase would be in the best
interests of the Company, which determination shall be conclusive. Whenever the Conversion Rate is
increased pursuant to the preceding sentence, the Company shall give notice of the increase to the
Holders of Securities in the manner provided in Section 1.06 at least fifteen (15) days prior to
the date the increased Conversion Rate takes effect, and such notice shall state the increased
Conversion Rate and the period during which it will be in effect.

     (k) Notwithstanding the foregoing provisions of this Section 10.04, no adjustment of the
Conversion Rate shall be required to be made (1) upon the issuance of shares of Common Stock
pursuant to any present or future plan for the reinvestment of dividends, (2) because of a tender
or exchange offer of the character described in Rule 13e-4(h)(5) under the Exchange Act or any
successor rule thereto or (3) as a result of a rights plan or poison pill implemented by the
Company.

     (l) In any case in which this Section 10.04 shall require that an adjustment be made
immediately following a Record Date, the Company may elect to defer the effectiveness of such
adjustment (but in no event until a date later than the effective time of the event giving rise to
such adjustment), in which case the Company shall, with respect to any Security of any series to
which this Article 10 applies, converted after such Record Date and on and before such adjustment
shall have become effective (1) defer paying any cash payment pursuant to Section 10.03 hereof or
issuing to the Holder of such Security the number of shares of Common Stock

56

 

issuable upon such conversion in excess of the number of shares of Common Stock issuable
thereupon only on the basis of the Conversion Rate prior to adjustment, and (2) not later than five
(5) New York Business Days after such adjustment shall have become effective, pay to such Holder
the appropriate cash payment pursuant to Section 10.03 hereof and issue to such Holder the
additional shares of Common Stock issuable on such conversion. Notwithstanding the foregoing, no
adjustment of the Conversion Rate shall be made if the event giving rise to such adjustment does
not occur.

     (m) In the event that the Company distributes rights or warrants (other than those referred to
in paragraph (b) above) pro rata to holders of Common Stock, so long as any such rights or warrants
have not expired, the Company shall make proper provision so that the Holder of any Security of any
series to which this Article 10 applies, surrendered for conversion will be entitled to receive
upon such conversion, in addition to the Common Stock issuable upon conversion of the Securities
(the “Conversion Shares”), a number of rights and warrants to be determined as follows: (i) if
such conversion occurs on or prior to the date for the distribution to the holders of rights or
warrants of separate certificates evidencing such rights or warrants (the “Distribution Date”), the
same number of rights or warrants to which a holder of a number of shares of Common Stock equal to
the number of Conversion Shares is entitled at the time of such conversion in accordance with the
terms and provisions of and applicable to the rights or warrants, and (ii) if such conversion
occurs after such Distribution Date, the same number of rights or warrants to which a holder of the
number of shares of Common Stock into which the principal amount of such Security so converted was
convertible immediately prior to such Distribution Date would have been entitled on such
Distribution Date in accordance with the terms and provisions of and applicable to the rights or
warrants.

     (n) In the event of a Change in Control, the Conversion Rate shall automatically adjust to 90%
of the Conversion Rate in effect immediately prior to the event that results in a Change in
Control. If the transaction causing the Change in Control is not consummated for any reason, the
Conversion Rate shall revert back to the Conversion Rate in effect prior to the adjustment provided
by this Section.

     (o) Notwithstanding anything to the contrary, in the event that the Company shall effect any
increase in the Conversion Rate pursuant to this Section 10.04, the Company shall procure any
required shareholder approvals.

     Section 10.05. Notice of Adjustments of Conversion Rate. Whenever the Conversion Rate is
adjusted as herein provided:

     (a) the Company shall compute the adjusted Conversion Rate in accordance with Section 10.04
and shall prepare a certificate signed by the Chief Financial Officer of the Company setting forth
the adjusted Conversion Rate and showing in reasonable detail the facts upon which such adjustment
is based, and such certificate shall promptly be delivered to the Trustee and the Conversion Agent;
and

     (b) upon each such adjustment, a notice stating that the Conversion Rate has been adjusted and
setting forth the adjusted Conversion Rate shall be required, and as soon as practicable after it
is required, such notice shall be provided by the Company to all Holders in accordance with Section
1.06.

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     Neither the Trustee nor the Conversion Agent shall be under any duty or responsibility with
respect to any such certificate or the information and calculations contained therein, except to
exhibit the same to any Holder of Securities of any series to which this Section 10 applies,
desiring inspection thereof at its office during normal business hours. Unless and until a
Responsible Officer of the Trustee and Conversion Agent receive notice of an adjusted Conversion
Rate, the Trustee and the Conversion Agent may rely without inquiry on the Conversion Rate most
recently in effect.

     Section 10.06. Notice of Certain Corporate Action. In case:

     (a) the Company shall declare a dividend (or any other distribution) on its Common Stock
payable (i) otherwise than exclusively in cash or (ii) exclusively in cash in an amount that would
require any adjustment pursuant to Section 10.04; or

     (b) the Company shall authorize the granting to the holders of its Common Stock of rights,
options or warrants to subscribe for or purchase any shares of Capital Stock of any class or of any
other rights; or

     (c) or of any reclassification of the Common Stock of the Company, or of any consolidation,
merger or share exchange to which the Company is a party and for which approval of any stockholders
of the Company is required, or of the conveyance, sale, transfer or lease of all or substantially
all of the assets of the Company; or

     (d) of the voluntary or involuntary dissolution, liquidation or winding up of the Company;

then the Company shall cause to be delivered to the Trustee and Conversion Agent at each office or
agency maintained for the purpose of conversion of Securities of any series to which this Article
10 applies pursuant to Section 10.02, and shall cause to be provided to all Holders in accordance
with Section 1.06, at least twenty (20) days prior to the applicable record or effective date
hereinafter specified, a notice stating (1) the date on which a record is to be taken for the
purpose of such dividend, distribution, rights, options or warrants, or, if a record is not to be
taken, the date as of which the holders of Common Stock of record to be entitled to such dividend,
distribution, rights, options or warrants are to be determined or (2) the date on which such
reclassification, consolidation, merger, conveyance, transfer, sale, lease, dissolution,
liquidation or winding up is expected to become effective, and the date as of which it is expected
that holders of Common Stock of record shall be entitled to exchange their shares of Common Stock
for securities, cash or other property deliverable upon such reclassification, consolidation,
merger, conveyance, transfer, sale, lease, dissolution, liquidation or winding up. Neither the
failure to give such notice or the notice referred to in the following paragraph nor any defect
therein shall affect the legality or validity of the proceedings described in clauses (a) through
(d) of this Section 10.06. If at the time the Trustee shall not be the Conversion Agent, a copy of
such notice shall also forthwith be delivered by the Company to the Trustee.

     The Company shall cause to be filed at each office or agency maintained for the purpose of
conversion of Securities of any series to which this Article 10 applies pursuant to Section 8.02,
and shall cause to be provided to all Holders in accordance with Section 1.06, notice of any tender
offer by the Company or any Subsidiary for all or any portion of the Common Stock at or about the
time that such notice of tender offer is provided to the public generally.

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     Section 10.07. Company to Reserve Common Stock. The Company shall at all times reserve and
keep available, free from preemptive rights, out of its authorized but unissued Common Stock, for
the purpose of effecting the conversion of Securities of any series to which this Article 10
applies, the full number of shares of Common Stock then issuable upon the conversion of all
Outstanding Securities of any such series.

     Section 10.08. Taxes on Conversions. Except as provided in the next sentence, the Company
will pay any and all taxes and duties that may be payable in respect of the issue or delivery of
shares of Common Stock on conversion of Securities of any series to which this Article 10 applies
pursuant hereto. The Company shall not, however, be required to pay any tax or duty which may be
payable in respect of any transfer involved in the issue and delivery of shares of Common Stock in
a name other than that of the Holder of the Security or Securities to be converted, and no such
issue or delivery shall be made unless and until the Person requesting such issue has paid to the
Company the amount of any such tax or duty or has established to the satisfaction of the Company
that such tax or duty has been paid.

     Section 10.09. Covenant as to Common Stock. The Company agrees that all shares of Common
Stock that may be delivered upon conversion of Securities of any series to which this Article 10
applies, upon such delivery, will be newly issued shares and will have been duly authorized and
validly issued and will be fully paid and nonassessable and, except as provided in Section 10.08,
the Company will pay all taxes, liens and charges with respect to the issue thereof.

     Section 10.10. Cancellation of Converted Securities. All Securities of any series to which
this Article 10 applies delivered for conversion shall be delivered to the Trustee or the
Conversion Agent to be cancelled by or at the direction of the Trustee, which shall dispose of the
same in accordance with Section 2.13.

     Section 10.11. Provision in Case of Consolidation, Merger or Sale of Assets. In case of any
consolidation or merger of the Company with or into any other Person, any merger of another Person
with or into the Company (other than a merger that does not result in any reclassification,
conversion, exchange or cancellation of outstanding shares of Common Stock of the Company) or any
conveyance, sale, transfer or lease of all or substantially all of the assets of the Company, the
Person formed by such consolidation or resulting from such merger or that acquires such assets, as
the case may be, shall execute and deliver to the Trustee a supplemental indenture providing that
the Holder of each Security of any series to which this Article 10 applies then Outstanding shall
have the right thereafter, during the period such Security shall be convertible as specified in
Section 10.01, to convert such Security only into the kind and amount of securities, cash and other
property receivable upon such consolidation, merger, conveyance, sale, transfer or lease by a
holder of the number of shares of Common Stock of the Company into which such Security might have
been converted immediately prior to such consolidation, merger, conveyance, sale, transfer or
lease, assuming such holder of Common Stock of the Company (a) is not a Person with which the
Company consolidated or merged with or into or that merged into or with the Company or to which
such conveyance, sale, transfer or lease was made, as the case may be (a “Constituent Person”), or
an Affiliate of a Constituent Person and (b) failed to exercise his rights of election, if any, as
to the kind or amount of securities, cash and other property receivable upon such consolidation,
merger, conveyance, sale, transfer or lease (provided that if the kind or amount of securities,
cash and other property receivable upon such consolidation, merger, conveyance, sale, transfer, or
lease is not the same for each share of Common Stock of the Company held immediately prior to such
consolidation, merger, conveyance, sale, transfer or lease by other than a Constituent Person or an
Affiliate thereof and in respect of which such rights

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of election shall not have been exercised (the “Non-electing Share”), then for the purpose of
this Section 10.11 the kind and amount of securities, cash and other property receivable upon such
consolidation, merger, conveyance, sale, transfer or lease by the holders of each Non-electing
Share shall be deemed to be the kind and amount so receivable per share by a plurality of the
Non-electing Shares). Such supplemental indenture shall provide for adjustments that, for events
subsequent to the effective date of such supplemental indenture, shall be as nearly equivalent as
may be practicable to the adjustments provided for in this Article 10. The above provisions of
this Section 10.11 shall similarly apply to successive consolidations, mergers, conveyances, sales,
transfers or leases. Notice of the execution of such a supplemental indenture shall be given by
the Company to the Holder of each Security of any series to which this Article 10 applies as
provided in Section 1.06 promptly upon such execution.

     Neither the Trustee nor the Conversion Agent shall be under any responsibility to determine
the correctness of any provisions contained in any such supplemental indenture relating either to
the kind or amount of shares of stock or other securities or property or cash receivable by Holders
of Securities of any series to which this Article 10 applies upon the conversion of their
Securities after any such consolidation, merger, conveyance, transfer, sale or lease or to any such
adjustment but may accept as conclusive evidence of the correctness of any such provisions, and
shall be protected in relying upon, an Officers Certificate or an Opinion of Counsel with respect
thereto, which the Company shall cause to be furnished to the Trustee in accordance with Section
1.02.

     Section 10.12. Responsibility of Trustee for Conversion Provisions. The Trustee and any
Conversion Agent shall not at any time be under any duty or responsibility to any Holder of
Securities of any series to which this Article 10 applies to determine whether any facts exist that
may require any adjustment of the Conversion Rate, or with respect to the nature or extent of any
such adjustment when made, or with respect to the method employed herein or in any supplemental
indenture in making the same, or whether a supplemental indenture need be entered into. Neither
the Trustee nor any Conversion Agent shall be accountable with respect to the validity or value (or
the kind or amount) of any Common Stock, or of any other securities or property or cash, that may
at any time be issued or delivered upon the conversion of any Security; and it or they do not make
any representation with respect thereto. Neither the Trustee, subject to the provisions of Section
5.01, nor any Conversion Agent shall be responsible for any failure of the Company to make or
calculate any cash payment or to issue, transfer or deliver any shares of Common Stock or share
certificates or other securities or property or cash upon the surrender of any Security for the
purpose of conversion; and the Trustee and any Conversion Agent shall not be responsible for any
failure of the Company to comply with any of the covenants of the Company contained in this Article
10.

     Section 10.13. Automatic Conversion.

     (a) If at any time after                                          and on or prior to Maturity, the Closing Price of
the Common Stock is equal to or greater than $                     per share for at least twenty (20) Trading Days
in any thirty (30) consecutive Trading Day period, ending within five (5) Trading Days prior to the
date of the Automatic Conversion Notice (as defined below) and the Equity Conditions have been met
at all times during such 30-day period, the Securities of any series to which this Article 10
applies shall automatically convert as provided herein (an “Automatic Conversion”); provided,
however, that such Automatic Conversion shall be subject to Section 10.02 hereof. The amount of
Securities of any series to which this Article 10 applies that shall automatically convert for any
30 Trading Day period shall equal the lesser of (i) the value of ten

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(10) times the Volume Weighted Average Price of the Common Stock during such 20 day triggering
period times the average daily trading volume of the Common Stock during such 20 day period,
rounded down to the nearest $1,000, and (ii) one half of the principal amount of such Securities
that have been authenticated under the Indenture as of the date of the Automatic Conversion Notice.
Each 30 Trading Day period for which an Automatic Conversion may be triggered shall commence anew
at the end of the period which triggered the Automatic Conversion.

     (b) Upon Automatic Conversion, the Company shall pay to Holders a Make-Whole Payment in
accordance with Article 9 hereof.

     (c) At the request and expense of the Company, the Trustee shall mail or cause to be mailed to
each Holder notice (the “Automatic Conversion Notice”), such notice to be prepared by the Company,
of an Automatic Conversion not more than thirty (30) days but not less than twenty (20) days prior
to the date on which such Securities will be Automatically Converted (the “Automatic Conversion
Date”). If the Company gives such notice, it shall also deliver a copy of such Automatic
Conversion Notice to the Trustee. Such mailing shall be by first class mail. Such notice, if
mailed in the manner herein provided, shall be conclusively presumed to have been duly given,
whether or not the holder receives such notice. In any case, failure to give such notice by mail
or any defect in the notice to the Holder of any Security shall not affect the validity of the
proceedings for the Automatic Conversion of any other Security.

     (d) Each Automatic Conversion Notice shall state:

     (1) the aggregate principal amount of such Securities to be automatically converted,

     (2) the CUSIP, ISIN or similar number or numbers of such Securities being
automatically converted,

     (3) the Automatic Conversion Date,

     (4) that on and after said date Interest thereon will cease to accrue,

     (5) the Make-Whole Payment to be paid by the Company pursuant to Article 9 hereof,

     (6) the place or places where such Securities are to be surrendered for conversion,
and

     (7) the Conversion Price then in effect.

     (e) Prior to or contemporaneous with the mailing of an Automatic Conversion Notice to the
Holders, the Company shall issue a press release containing the information contained in the
Automatic Conversion Notice.

     (f) In the event of an Automatic Conversion, the Company shall issue and deliver (i) a
certificate or certificates for the number of Conversion Shares and (ii) any cash in respect of any
fractional shares of Common Stock otherwise issuable upon conversion and the Make-Whole Payment,
for payment to the Holders as promptly after the Automatic Conversion Date, as

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practicable in accordance with the provisions of this Article 10, but in no event later than
the close of business on the third next succeeding Business Day following such Automatic Conversion
Date.

     (g) All such Securities subject to an Automatic Conversion shall be delivered to the Trustee
or the Conversion Agent to be cancelled by or at the direction of the Trustee, which shall dispose
of the same in accordance with Section 2.13.

     (h) If less than all such Securities are to be Automatically Converted, the particular
Securities to be converted shall be selected by the Trustee at least five (5) New York Business
Days prior to the date that the Automatic Conversion Notice is given from the Outstanding
Securities by lot or such method as the Trustee may deem fair and appropriate.

     (i) Upon Automatic Conversion, interest on such Securities shall cease to accrue and, except
as provided in Section 5.06, to be entitled to any benefit or security under this Indenture, and
the Holders thereof shall have no right in respect of such Securities except the right to receive
the Common Stock and cash, if any, to which they are entitled pursuant to this Section 10.13.

     (j) If any of the provisions of this Section 10.13 are inconsistent with applicable law at the
time of such Automatic Conversion, such law shall govern.

     (k) Notwithstanding anything to the contrary, in the event that the Company shall effect
Automatic Conversion pursuant to this Section 10.13, the Company shall procure any required
shareholder approvals.

     Section 10.14. Compensation for Buy-In on Failure to Timely Deliver Certificates Upon
Conversion.

     If the Company fails to deliver to a Holder the applicable certificate or certificates for
Common Stock by the fifth Trading Day following the delivery of the notice of conversion to the
Trustee, and if after such date such Holder is required by its brokerage firm to purchase (in an
open market transaction or otherwise), or the Holder’s brokerage firm purchases, shares of Common
Stock to deliver in satisfaction of a sale by such Holder of the Conversion Shares which such
Holder was entitled to receive upon the conversion relating to such notice of conversion (a
“Buy-In”), then the Company shall (A) pay in cash to such Holder (in addition to any other
remedies available to or elected by such Holder) the amount by which (x) such Holder’s total
purchase price (including any brokerage commissions) for the shares of Common Stock so purchased
exceeds (y) the product of (1) the aggregate number of shares of Common Stock that such Holder was
entitled to receive from the conversion at issue multiplied by (2) the actual sale price at which
the sell order giving rise to such purchase obligation was executed (including any brokerage
commissions) and (B) at the option of such Holder, either reissue (if surrendered) such Securities
equal to the aggregate principal amount of such Securities submitted for conversion or deliver to
such Holder the number of shares of Common Stock that would have been issued if the Company had
timely complied with its delivery requirements under Section 10.02. For example, if a Holder
purchases shares of Common Stock having a total purchase price of $11,000 to cover a Buy-In with
respect to

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an attempted conversion of Securities with respect to which the actual sale price (including
any brokerage commissions) giving rise to such purchase obligation was a total of $10,000 under
clause (A) of the immediately preceding sentence, the Company shall be required to pay such Holder
$1,000. The Holder shall provide the Company written notice indicating the amounts payable to such
Holder in respect of the Buy-In and, upon request of the Company, evidence of the amount of such
loss. Nothing herein shall limit a Holder’s right to pursue any other remedies available to it
hereunder, at law or in equity including, without limitation, a decree of specific performance
and/or injunctive relief with respect to the Company’s failure to timely deliver certificates
representing shares of Common Stock upon conversion of the such Securities as required pursuant to
the terms hereof.

ARTICLE 11

Holders Lists And Reports By Trustee And Company; Non-Recourse

     Section 11.01. Company to Furnish Trustee Names and Addresses of Holders. The Company will
furnish or cause to be furnished to the Trustee:

     (a) semi-annually, not more than fifteen (15) days after the Record Date, a list, in such form
as the Trustee may reasonably require, of the names and addresses of the Holders of Outstanding
Securities of all series as of such Record Date, and

     (b) at such other times as the Trustee may reasonably request in writing, within thirty (30)
days after the receipt by the Company of any such request, a list of similar form and content as of
a date not more than fifteen (15) days prior to the time such list is furnished;

provided, however, that no such list need be furnished so long as the Trustee is acting as Security
Registrar.

     Section 11.02. Preservation of Information.

     (a) The Trustee shall preserve, in as current a form as is reasonably practicable, the names
and addresses of Holders contained in the most recent list furnished to the Trustee as provided in
Section 11.01 and the names and addresses of Holders received by the Trustee in its capacity as
Security Registrar. The Trustee may destroy any list furnished to it as provided in Section 11.01
upon receipt of a new list so furnished.

     (b) After this Indenture has been qualified under the Trust Indenture Act, the rights of
Holders to communicate with other Holders with respect to their rights under this Indenture or
under the Securities of any series, and the corresponding rights and duties of the Trustee, shall
be as provided by the Trust Indenture Act.

     (c) Every Holder of Securities, by receiving and holding the same, agrees with the Company and
the Trustee that neither the Company nor the Trustee nor any agent of either of them shall be held
accountable by reason of any disclosure of information as to names and addresses of Holders made
pursuant to the Trust Indenture Act.

     Section 11.03. No Recourse Against Others. An incorporator or any past, present or future
director, officer, employee or stockholder, as such, of the Company or any successor entity

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shall not have any liability for any obligations of the Company under the Securities or this
Indenture or for any claim based on, in respect of or by reason of such obligations or their
creation. By accepting a Security, each Holder shall waive and release all such liability. Such
waiver and release shall be part of the consideration for the issue of the Securities.

     Section 11.04. Reports by Trustee.

     (a) After this Indenture has been qualified under the Trust Indenture Act, the Trustee shall
transmit to Holders such reports concerning the Trustee and its actions under this Indenture as may
be required pursuant to the Trust Indenture Act at the times and in the manner provided therein.
If required by Section 313(a) of the Trust Indenture Act, the Trustee shall, within sixty (60) days
after each                      following the date of this Indenture, deliver to Holders a brief report, dated as
of such                     , that complies with the provisions of such Section 313(a).

     (b) After this Indenture has been qualified under the Trust Indenture Act, a copy of each such
report shall, at the time of such transmission to Holders, be filed by the Trustee with each stock
exchange upon which the Securities are listed, with the Commission and with the Company. The
Company will promptly notify the Trustee when the Securities are listed on any stock exchange.

     Section 11.05. Section 13 or 15(d) Reports by Company. After this Indenture has been
qualified under the Trust Indenture Act, the Company shall file with the Trustee and the
Commission, and transmit to Holders, such information, documents and other reports, and such
summaries thereof, as may be required pursuant to the Trust Indenture Act at the times and in the
manner provided therein; provided, however, that any such information, documents or reports
required to be filed with the Commission pursuant to Section 13 or 15(d) of the Exchange Act shall
be filed with the Trustee within fifteen (15) days after the same has been filed with the
Commission. Documents filed by the Company with the Commission via the EDGAR system shall be
deemed to be filed with the Trustee as of the time such documents are filed via EDGAR.

     Delivery of such reports, information and documents to the Trustee is for informational
purposes only and the Trustee’s receipt thereof shall not constitute constructive notice of any
information contained therein or determinable from information contained therein, including the
Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to
rely exclusively on Officers’ Certificates).

ARTICLE 12

Repurchase Of Securities At The

Option Of The Holder Upon A Change In Control

     Section 12.01. Right to Require Repurchase.

     In the event that a Change in Control shall occur, then each Holder shall have the right, at
the Holder’s option, but subject to the provisions of Section 12.02, to require the Company to
repurchase for cash, and upon the exercise of such right the Company shall repurchase, all of such
Holder’s Securities, or any portion of the principal amount thereof that is equal to U.S. $1,000 or
any greater integral multiple of U.S. $1,000, on the date (the “Repurchase Date”) that is fixed by
the Company at a cash purchase price equal to one hundred percent (100%) of the principal amount of
the Securities to be repurchased plus interest accrued to, but excluding, the Repurchase Date (the
“Repurchase Price”); provided, however, that installments of interest on Securities

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whose Stated Maturity is on or prior to the Repurchase Date shall be payable to the Holders of
such Securities, or one or more Predecessor Securities, registered as such on the relevant Record
Date according to their terms and the provisions of Section 2.11. The Repurchase Date will be
determined by the Company in the following manner: (i) the Company will give notice of the Change
in Control as contemplated in Section 12.02(a); (ii) each Holder electing to exercise the
repurchase right must deliver, on or before the thirtieth (30th) day (or such greater period as may
be required by applicable law) after the date of the Company’s notice provided in provision (i)
above: (A) irrevocable written notice to the Trustee of such Holder’s exercise of its repurchase
right; and (B) the Securities with respect to which such repurchase right is being exercised; and
(iii) the Company will make the repurchase on a date that is no later than forty-five (45) days
after the Holder has delivered the notice provided in clause (ii) above. Such right to require the
repurchase of the Securities shall not continue after a discharge of the Company from its
obligations with respect to the Securities in accordance with Article 3 unless a Change in Control
shall have occurred prior to such discharge. Whenever in this Indenture (including Sections 2.05,
4.01(a) and 4.08) there is a reference, in any context, to the principal of any Security as of any
time, such reference shall be deemed to include reference to the Repurchase Price that has become
and remains payable in respect of such Security to the extent that such Repurchase Price is, was or
would be so payable at such time, and express mention of the Repurchase Price in any provision of
this Indenture shall not be construed as excluding the Repurchase Price in those provisions of this
Indenture when such express mention is not made.

     Section 12.02. Notices; Method of Exercising Repurchase Right, Etc.

     (a) On or before the thirtieth (30th) day after the occurrence of a Change in Control, the
Company or, at the request and expense of the Company on or before the thirtieth (30th) day after
such occurrence, the Trustee, shall give to all Holders of Securities, in the manner provided in
Section 1.06, notice (the “Company Notice”) of the occurrence of the Change in Control and of the
repurchase right set forth herein arising as a result thereof. The Company shall also prepare and
deliver a copy of such notice of a repurchase right to the Trustee.

     Each notice of a repurchase right shall state:

     (1) the Repurchase Date,

     (2) the date by which the repurchase right must be exercised,

     (3) the Repurchase Price,

     (4) a description of the procedure that a Holder must follow to exercise a repurchase right,
and the place or places where such Securities are to be surrendered for payment of the Repurchase
Price and accrued interest, if any,

     (5) that on the Repurchase Date, the Repurchase Price, and accrued interest, if any, will
become due and payable upon each such Security designated by the Holder to be repurchased and that
interest thereon shall cease to accrue on and after said date,

     (6) the Conversion Rate then in effect, the date on which the right to convert the principal
amount of the Securities to be repurchased will terminate and the place or places where such
Securities may be surrendered for conversion,

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     (7) the place or places that the Notice of Election of Holder to Require Repurchase, shall be
delivered, and the form of such notice, and

     (8) the CUSIP number or numbers of such Securities.

     No failure of the Company to give the foregoing notices or defect therein shall limit any
Holder’s right to exercise a repurchase right or affect the validity of the proceedings for the
repurchase of Securities.

     If any of the foregoing provisions or other provisions of this Article 12 are inconsistent
with applicable law, such law shall govern.

     (b) To exercise a repurchase right, a Holder shall deliver to the Trustee on or before the
thirtieth (30th) day (or such greater period as may be required by applicable law) after the date
of the Company Notice (1) written notice of the Holder’s exercise of such right, which notice shall
set forth the name of the Holder, the principal amount of the Securities to be repurchased (and, if
any Security is to repurchased in part, the serial number thereof, the portion of the principal
amount thereof to be repurchased and the name of the Person in which the portion thereof to remain
Outstanding after such repurchase is to be registered) and a statement that an election to exercise
the repurchase right is being made thereby, and (2) the Securities with respect to which the
repurchase right is being exercised. Such written notice shall be irrevocable, except that the
right of the Holder to convert the Securities with respect to which the repurchase right is being
exercised shall continue until the close of business on the Business Day immediately preceding the
Repurchase Date.

     (c) In the event a repurchase right shall be exercised in accordance with the terms hereof,
the Company shall pay or cause to be paid to the Trustee the Repurchase Price in cash for payment
to the Holder on the Repurchase Date together with accrued and unpaid interest to the Repurchase
Date payable with respect to the Securities as to which the purchase right has been exercised;
provided, however, that installments of interest that mature on or prior to the Repurchase Date
shall be payable in cash to the Holders of such Securities, or one or more Predecessor Securities,
registered as such at the close of business on the relevant Regular Record Date.

     (d) If any Security (or portion thereof) surrendered for repurchase shall not be so paid on
the Repurchase Date, the principal amount of such Security (or portion thereof, as the case may be)
shall, until paid, bear interest to the extent permitted by applicable law from the Repurchase Date
at the rate then in effect per annum, and each Security shall remain convertible into Common Stock
until the principal of such Security (or portion thereof, as the case may be) shall have been paid
or duly provided for.

     (e) Any Security that is to be repurchased only in part shall be surrendered to the Trustee
(with, if the Company or the Trustee so requires, due endorsement by, or a written instrument of
transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder thereof
or his attorney duly authorized in writing), and the Company shall execute, and the Trustee shall
authenticate and make available for delivery to the Holder of such Security without service charge,
a new Security or Securities, containing identical terms and conditions, each in an authorized
denomination in aggregate principal amount equal to and in exchange for the unrepurchased portion
of the principal of the Security so surrendered.

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     (f) No fractions of shares shall be issued upon repurchase of Securities. If more than one
Security shall be repurchased from the same Holder and the Repurchase Price shall be payable in
shares of Common Stock, the number of full shares that shall be issuable upon such repurchase shall
be computed on the basis of the aggregate principal amount of the Securities so repurchased.
Instead of any fractional share of Common Stock that would otherwise be issuable on the repurchase
of any Security or Securities, the Company will deliver to the applicable Holder a check for the
current market value of such fractional share. The current market value of a fraction of a share
is determined by multiplying the current market price of a full share by the fraction and rounding
the result to the nearest cent. For purposes of this Section 12.02, the current market price of a
share of Common Stock is the average of the high and low sales price per share of the Common Stock
on the Trading Day immediately preceding the Repurchase Date.

     (g) All Securities delivered for repurchase shall be delivered to the Trustee to be canceled
at the direction of the Trustee, which shall dispose of the same as provided in Section 2.13.]

ARTICLE 13

Subordination

     Section 13.01. Agreement to Subordinate.

     The Company agrees, and each Holder by accepting a Security agrees, that the payment of
principal of, premium, if any, and interest on, and all other amounts payable in respect of, the
Securities is subordinated in right of payment, to the extent and in the manner provided in this
Article 13 and subject to the provisions of Article 3 hereof, to the payment when due in cash of
all Senior Debt of the Company and that the subordination is for the benefit of and enforceable by
the holders of such Senior Debt. All provisions of this Article 13 shall be subject to Article 3.
All references to “Senior Debt” in this Article 13 are to Senior Debt of the Company.

     Section 13.02. Liquidation, Dissolution, Bankruptcy.

     (a) Upon any payment or distribution of the assets of the Company to creditors upon a
liquidation, dissolution or winding up of the Company or in a bankruptcy, reorganization,
receivership or similar proceeding relating to the Company or its property or upon an assignment
for the benefit of the Company’s creditors or the marshaling of its assets and liabilities, the
holders of Senior Debt will be entitled to receive payment in full in cash before the Holders of
the Securities are entitled to receive any payment of principal of, premium, if any, or interest,
on, the Securities, except that Holders of Securities may receive and retain such payments made in
Permitted Junior Securities and payments from the trust described in Article 3 hereof.

     (b) Until the Senior Debt is paid in full in cash, any distribution to which Holders of the
Securities would be entitled but for this Article 13 will be made to holders of the Senior Debt as
their interests may appear (except that Holders of Securities may receive and retain payments made
in Permitted Junior Securities and payments and other distributions made from the trust described
in Article 3 hereof; provided that (i) no Holder of the Securities shall have the right to receive
and retain any such Permitted Junior Securities if the existence of such right would have the
effect of causing the Securities to be treated in the same class of claims as the Senior Debt of
the Company or any class of claims which is pari passu with such Senior Debt and (ii) holders of
Senior Debt shall be entitled to receive any cash payments made to any Holder of Securities on

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the account of Permitted Junior Securities until all Obligations in respect of Senior Debt
have been paid in full in cash).

     Section 13.03. Default on Senior Debt.

     The Company may not pay (except in Permitted Junior Securities or from the trust described in
Article 3 hereof) principal of, or premium, if any, or interest on, the Securities, or make any
deposit in respect of the Securities pursuant to Section 4.04, and may not repurchase, redeem or
otherwise retire any Securities (collectively, “pay the Securities”) if (a) any principal, premium,
interest or any other amount payable in respect of any Senior Debt is not paid within any
applicable grace period (including at maturity) or (b) any other default on Senior Debt occurs and
the maturity of such Senior Debt is accelerated in accordance with its terms unless, in either
case, (1) the default has been cured or waived and any such acceleration has been rescinded or (2)
such Senior Debt has been paid in full in cash; provided, however, that the Company may pay the
Securities without regard to the foregoing if the Company and the Trustee receive written notice
approving such payment from the representative of the holders of such Senior Debt or, if there is
no representative, from the holders of such Senior Debt.

     During the continuance of any default (other than a default described in clause (a) or (b) of
the preceding sentence) with respect to any Senior Debt pursuant to which the maturity thereof may
be accelerated immediately without further notice (except any notice required to effect the
acceleration) or the expiration of any applicable grace period, the Company may not pay the
Securities for a period (a “Payment Blockage Period”) commencing upon the receipt by the Company
and the Trustee of written notice of such default from the representative of the holders of such
Senior Debt or, if there is no representative, from the holders of such Senior Debt, specifying an
election to effect a Payment Blockage Period (a “Payment Blockage Notice”) and ending 179 days
thereafter (unless such Payment Blockage Period is earlier terminated by written notice to the
Trustee and the Company from the Representative of the holders of such Senior Debt or, if there is
no representative, from the holders of such Senior Debt that gave such Payment Blockage Notice
because (a) such default is no longer continuing or (b) because such Senior Debt has been repaid in
full in cash). Not more than one Payment Blockage Notice with respect to all issues of Senior Debt
may be given in any consecutive 360-day period, irrespective of the number of defaults with respect
to one or more issues of Senior Debt during such period. No non-payment default that existed or
was continuing on the date of delivery of any Payment Blockage Notice to the Trustee shall be the
basis for a subsequent Payment Blockage Notice. Following the expiration of any Payment Blockage
Period, the Company shall (unless otherwise prohibited as described in the first two sentences of
this paragraph) resume making any and all required payments in respect of the Securities,
including, without limitation, any missed payments, unless the maturity of any Senior Debt has been
accelerated, and such acceleration remains in full force and effect.

     Section 13.04. Acceleration of Payment of Securities.

     If payment of the Securities is accelerated when Senior Debt is outstanding, the Company may
not pay the Securities until three Business Days after the representative of the holders of such
Senior Debt or, if there is no Representative, the holders of such Senior Debt receive notice of
such acceleration and, thereafter, may pay the Securities only if this Indenture otherwise permits
payment at that time.

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     Section 13.05. When Distribution Must Be Paid Over.

     If a payment or distribution is made to Holders that because of this Article 13 should not
have been made to them, the Trustee or the Holders who receive the distribution shall hold it in
trust for holders of Senior Debt and pay it over to them or their representative as their interests
may appear.

     Section 13.06. Subrogation.

     After all Senior Debt is paid in full and until the Securities are paid in full, Holders shall
be subrogated (equally and ratably with all other Indebtedness that is pari passu with the Notes)
to the rights of holders of Senior Debt to receive distributions applicable to Senior Debt to the
extent that distributions otherwise payable to the Holders have been applied to the payment of
Senior Debt. A distribution made under this Article 13 to holders of Senior Debt that otherwise
would have been made to Holders is not, as between the Company and Holders, a payment by the
Company on such Senior Debt.

     Section 13.07. Relative Rights.

     This Article 13 defines the relative rights of Holders and holders of Senior Debt. Nothing in
this Indenture shall:

     (a) impair, as between the Company and Holders, the obligation of the Company, which is
absolute and unconditional, to pay principal of, premium, if any, and interest on, the Securities
in accordance with their terms;

     (b) affect the relative rights of Holders and creditors of the Company other then their rights
in relation to holders of Senior Debt; or

     (c) prevent the Trustee or any Holder from exercising its available remedies upon a Default or
an Event of Default, subject to the rights of holders of Senior Debt to receive distributions
otherwise payable to Holders.

     Section 13.08. Subordination May Not Be Impaired by Company.

     No right of any holder of Senior Debt to enforce the subordination of the Debt evidenced by
the Securities shall be impaired by any act or failure to act by the Company or by its failure to
comply with this Indenture.

     Section 13.09. Rights of Trustee and Paying Agent.

     Notwithstanding Article 3 hereof, the Trustee or Paying Agent may continue to make payments on
the Securities and shall not be charged with knowledge of the existence of facts that would
prohibit the making of any such payments unless, not less than two New York Business Days prior to
the date of such payment, a Responsible Officer receives notice satisfactory to it that payments
may not be made under this Article 13. The Company, the Securities Registrar, any Paying Agent, a
representative or a holder of Senior Debt may give the notice; provided, however, that, if the
Senior Debt has a Representative, only the Representative may give the notice.

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     The Trustee in its individual or any other capacity may hold Senior Debt with the same rights
it would have if it were not Trustee. The Securities Registrar and the Paying Agent may do the
same with like rights. The Trustee shall be entitled to all the rights set forth in this Article
13 with respect to any Senior Debt that may at any time be held by it, to the same extent as any
other holder of such Senior Debt; and nothing in Article 4 shall deprive the Trustee of any of its
rights as such holder.

     Section 13.10. Distribution or Notice to Representative.

     Whenever a distribution is to be made or a notice given to holders of Senior Debt, the
distribution may be made and the notice given to their representative (if any).

     Section 13.11. Article 13 Not to Prevent Events of Default or Limit Right to Accelerate.

     Nothing in this Article 13 shall prevent an Event of Default in accordance with Article 4 or
have any effect on the right of the Holders or the Trustee to accelerate the maturity of the
Securities or to exercise the rights and remedies in Article 4.

     Section 13.12. Trust Moneys and Make-Whole Payment Not Subordinated.

     Notwithstanding anything contained herein to the contrary, neither the Make-Whole Payment nor
payments from cash or the proceeds of non-callable U.S. Government Obligations held in trust under
Article 3 by the Trustee for the payment of principal of and interest on the Securities shall be
subordinated to the prior payment of any Senior Debt or subject to the restrictions set forth in
this Article 13, and none of the Holders shall be obligated to pay over any such amount to the
Company or any holder of Senior Debt or any other creditor of the Company.

     Section 13.13. Trustee Entitled to Rely.

     Upon any payment or distribution pursuant to this Article 13, the Trustee and the Holders
shall be entitled to rely (a) upon any order or decree of a court of competent jurisdiction in
which any proceedings of the nature referred to in Section 4.01(f) and Section 4.01(g) are pending,
(b) upon a certificate of the liquidating trustee or agent or other Person making such payment or
distribution to the Trustee or to the Holders or (c) upon a certificate of the representative of
the holders of Senior Debt or, if there is no representative, the holders of Senior Debt for the
purpose of ascertaining the Persons entitled to participate in such payment or distribution, the
holders of Senior Debt and other Indebtedness of the Company, the amount thereof or payable
thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or
to this Article 13.

     Section 13.14. Trustee’s Compensation Not Prejudiced.

     Nothing in this Article 13 will apply to amounts due to the Trustee pursuant to other Sections
in this Indenture.

     Section 13.15. Trustee to Effectuate Subordination.

     Each Holder by accepting a Security authorizes and directs the Trustee on his behalf to take
such action as may be necessary or appropriate to acknowledge or effectuate the

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subordination between the Holders and the holders of Senior Debt as provided in this Article
13 and appoints the Trustee as attorney-in-fact for any and all such purposes.

     Section 13.16. Trustee Not Fiduciary for Holders of Senior Debt.

     The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Debt and
shall not be liable to any such holders if it shall mistakenly pay over or distribute to Holders or
the Company or any other Person, money or assets to which any holders of Senior Debt shall be
entitled by virtue of this Article 13 or otherwise, except if such mistake was the result of the
Trustee’s gross negligence or willful misconduct.

     Section 13.17. Reliance by Holders of Senior Debt on Subordination Provisions.

     Each Holder by accepting a Security acknowledges and agrees that the foregoing subordination
provisions are, and are intended to be, an inducement and a consideration to each holder of any
Senior Debt, whether such Senior Debt was created or acquired before or after the issuance of the
Securities, to acquire and continue to hold, or to continue to hold, such Senior Debt and such
holder of such Senior Debt shall be deemed conclusively to have relied on such subordination
provisions in acquiring and continuing to hold, or in continuing to hold, such Senior Debt.

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

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	EpiCept Corporation
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	Name:	 	 
	 

	 	 	 	 	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Attest:	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:
	 	 	 	 	 	 	 	 	 	 
	 
	 	
 

Name:	 	 	 	 	 	 	 	 
	 
	 	Title:	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 	, as Trustee
	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	Name:	 	 
	 

	 	 	 	 	 	 	 	Title:	 	 

72

 

EXHIBIT A

FORM OF NOTE

[FORM OF FACE]

[THE FOLLOWING LEGEND SHALL APPEAR ON THE FACE OF EACH GLOBAL SECURITY:

     THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND
IS REGISTERED IN THE NAME OF THE DEPOSITARY OR A NOMINEE OF THE DEPOSITARY, WHICH MAY BE TREATED BY
THE COMPANY, THE TRUSTEE AND ANY AGENT THEREOF AS OWNER AND HOLDER OF THIS NOTE FOR ALL PURPOSES.]

[THE FOLLOWING LEGEND SHALL APPEAR ON THE FACE OF EACH GLOBAL SECURITY FOR WHICH THE DEPOSITORY
TRUST COMPANY IS TO BE THE DEPOSITARY:

     UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH
OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE
& CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]

EPICEPT CORPORATION

___% Convertible Notes Due                     

	 	 	 
	No.

	 	U.S. $

CUSIP No. [          ]

     EpiCept Corporation, a corporation duly organized and existing under the laws of the State of
Delaware (herein called the “Company,” which term includes any successor Person under the
Indenture referred to on the reverse hereof), for value received, hereby promises to pay to Cede &
Co., or registered assigns, the principal sum of                      United States Dollars
(U.S. $                    ) [if this Security is a Global Security, then insert — (which
principal amount may from time to time be increased or decreased to such other principal amounts
(which, taken together with the principal amounts of all other Outstanding Securities, shall not
exceed $                     in the aggregate at any time, [by adjustments made on
the records of the Trustee

73

 

hereinafter referred to in accordance with the Indenture)]] on
                    , unless repurchased on an earlier date.

Interest Payment Dates:                      and                     

Record Dates:                      and                     

     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.

SIGNATURE PAGE FOLLOWS

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     IN WITNESS WHEREOF, the Company has caused this Security to be duly executed.

	 	 	 	 	 
	 	EpiCept Corporation

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

	 	 	 	 	 
	Attest:
	 	 	 	 
	Name:

	 	 

	 	 
	 
	 	 	 	 
	Dated:
	 	 	 	 
	 

	 	 

	 	 

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     This is one of the Securities referred to in the within-mentioned Indenture.

	 	 	 	,	 	 	 
	 	 	 	 	 
	as Trustee	 	 	 	 
	 
	 	 	 	 	 	 
	By:
	 	 	 	 	 	 
	 

	 	 

Authorized Signatory
	 	 	 

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[FORM OF REVERSE]

     Indenture; Defined Terms. This Security is one of a duly authorized issue of
securities of the Company designated as its “___% Convertible Notes Due                     ” (herein called
the “Securities”), limited in aggregate principal amount to U.S. $[     ], issued and to be issued
under an Indenture dated as of                      (herein called the “Indenture”) between the Company and
                                        , as Trustee (herein called the “Trustee,” which term includes any successor
trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference
is hereby made for a statement of the respective rights, limitations of rights, duties and
immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the
terms upon which the Securities are, and are to be, authenticated and delivered. To the extent any
provision of this Security conflicts with the express provisions of the Indenture, the provisions
of the Indenture shall govern and be controlling. All terms used in this Security which are
defined in the Indenture shall have the meanings assigned to them in the Indenture.

     Payments of Interest. The Company promises to pay interest on the principal amount of
this Security, from                     , or from the most recent Interest Payment Date (as defined below)
to which interest has been paid or duly provided for, semiannually in arrears on                      and
                     in each year (each, an “Interest Payment Date”), commencing                     , at the rate of
___% per annum, until the principal hereof is due, and at the rate then in effect on any overdue
principal and premium, if any, and, to the extent permitted by law, on any overdue interest. The
interest 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 is registered at
the close of business on the Regular Record Date for such interest, which shall be                      and
                     (whether or not a New York Business Day), as the case may be, next preceding such
Interest Payment Date. Any interest not punctually paid or duly provided for shall be payable as
provided in the Indenture.

     Method of Payment. Payment of interest on this Security may be made at the option of
the Company as follows: (i) by United States Dollar check mailed to the address of the Person
entitled thereto as such address shall appear in the Security Register or, (ii) upon written
application by the Holder to the Security Registrar setting forth wire instructions not later than
the relevant Record Date, by wire transfer to a United States dollar account (such a wire transfer
to be made only to a Holder of an aggregate principal amount of Registered Securities in excess of
U.S. $2,000,000 and only if such Holder shall have furnished wire instructions in writing to the
Trustee no later than 15 days prior to the relevant payment date) maintained by the payee.

     Payments of Principal. Payments of principal shall be made upon the surrender of this
Security at the Corporate Trust Office or at such other office or agency of the Company as may be
designated by it for such 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 shall be legal tender for the
payment of public and private debts, or at such other offices or agencies as the Company may
designate, by United States Dollar check drawn on, or wire transfer to, a United States Dollar
account (such a wire transfer to be made only to a Holder of an aggregate principal amount of
Registered Securities in excess of U.S. $2,000,000 and only if such Holder shall have furnished
wire instructions in writing to the Trustee no later than 15 days prior to the relevant payment
date) maintained by the payee.

     Tax. Except as specifically provided herein and in the Indenture, the Company shall
not be required to make any payment with respect to any tax, assessment or other governmental

77

 

charge imposed by any government or any political subdivision or taxing authority thereof or
therein.

     In any case where the due date for the payment of the principal of, premium, if any, or
interest on any Security or the last day on which a Holder of a Security has a right to convert its
Security shall be, at any Place of Payment or Place of Conversion, as the case may be, a day on
which banking institutions at such Place of Payment or Place of Conversion are authorized or
obligated by law or executive order to close, then payment of principal, premium, if any, or
interest or delivery for conversion of such Security need not be made on or by such date at such
place but may be made on or by the next succeeding day at such place which is not a day on which
banking institutions are authorized or obligated by law or executive order to close, with the same
force and effect as if made on the date for such payment or the date fixed for repurchase, or by
such last day for conversion, and no interest shall accrue on the amount so payable for the period
from and after such due date. Interest on the Securities shall be computed on the basis of a
360-day year of twelve 30-day months.

     Conversion at Option of Holder. Subject to and upon compliance with the provisions of
the Indenture, the Holder of this Security is entitled, at its option, at any time after the
original issue date of the Securities and on or before the close of business on                     , or in
case the Holder of this Security has exercised his right to require the Company to repurchase or
redeem this Security or such portion hereof, then in respect of this Security until and including,
but (unless the Company defaults in making the payment due upon repurchase or redemption) not
after, the close of business close of business two (2) New York Business Days prior to the Maturity
to convert this Security or any portion of the principal amount hereof that is an integral multiple
of U.S. $1,000 (provided that the unconverted portion of such principal amount is U.S. $1,000 or
any integral multiple of U.S. $1,000 in excess thereof) into fully paid and nonassessable shares of
Common Stock of the Company at the initial Conversion Rate per U.S. $1,000 principal amount of
Securities (or at the current adjusted Conversion Rate, if any adjustment has been made as provided
in the Indenture) by surrender of this Security, duly endorsed or assigned to the Company or in
blank.

     In case such surrender shall be made during the period from the close of business on any
Record Date next preceding any Interest Payment Date to the opening of business on such Interest
Payment Date (except if this Security or a portion thereof is repurchasable or redeemable on a
Repurchase Date, with the consequence that the conversion right of such Security would terminate
between such Record Date and the close of business on such Interest Payment Date), also accompanied
by payment in funds acceptable to the Company of an amount equal to the interest payable on such
Interest Payment Date on the principal amount of this Security then being converted and also the
conversion notice hereon duly executed, to the Company at the Corporate Trust Office, or at such
other office or agency of the Company, subject to any laws or regulations applicable thereto and
subject to the right of the Company to terminate the appointment of any Conversion Agent as may be
designated by it for such purpose.

     The interest so payable on such Interest Payment Date, with respect to any Security (or
portion thereof, if applicable) that is surrendered for conversion during the period from the close
of business on any Record Date next preceding any Interest Payment Date to the opening of business
on such Interest Payment Date, shall be paid to the Holder of such Security as of such Record Date.
Interest payable in respect of any Security surrendered for conversion on or after an Interest
Payment Date shall be paid to the Holder of such Security as of the next preceding Record Date,
notwithstanding the exercise of the right of conversion.

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     Except as provided in this paragraph and subject to the Indenture, no cash payment or
adjustment shall be made upon any conversion on account of any interest accrued from the Interest
Payment Date next preceding the conversion date, in respect of any Security (or part thereof, as
the case may be) surrendered for conversion, or on account of any dividends on the Common Stock
issued upon conversion.

     The Company’s delivery to the Holder of the number of shares of Common Stock (and cash in lieu
of fractions thereof, as provided in this Indenture) into which a Security is convertible and any
rights pursuant to Section 10 of the Indenture will be deemed to satisfy the Company’s obligation
to pay the principal amount of the Security.

     No fractions of shares or scrip representing fractions of shares will be issued on conversion,
but instead of any fractional interest (calculated to the nearest 1/100th of a share) the Company
shall pay a cash adjustment as provided in the Indenture.

     The Conversion Rate is subject to adjustment as provided in the Indenture. In addition, the
Indenture provides that in case of certain consolidations or mergers to which the Company is a
party or the conveyance, transfer, sale or lease of all or substantially all of the property and
assets of the Company, the Indenture shall be amended, without the consent of any Holders of
Securities, so that this Security, if then Outstanding, will be convertible thereafter, during the
period this Security shall be convertible as specified above, only into the kind and amount of
securities, cash and other property receivable upon such consolidation, merger, conveyance,
transfer, sale or lease by a holder of the number of shares of Common Stock of the Company into
which this Security could have been converted immediately prior to such consolidation, merger,
conveyance, transfer, sale or lease (assuming such holder of Common Stock is not a Constituent
Person or an Affiliate of a Constituent Person, failed to exercise any rights of election and
received per share the kind and amount received per share by a plurality of Non-electing Shares).
No adjustment in the Conversion Rate will be made until such adjustment would require an increase
or decrease of at least one percent of such rate; provided that any adjustment that would otherwise
be made will be carried forward and taken into account in the computation of any subsequent
adjustment.

     Automatic Conversion of Notes. The Notes will automatically convert (an “Automatic
Conversion”) at any time after                      if the Closing Price (as defined in the Indenture) per
share of the Common Stock is equal to or greater than $                     per share for at least twenty
(20) Trading Days within a period of thirty (30) consecutive Trading Days ending within five (5)
Trading Days of the date the Company gives to all holders of Notes a notice of the Automatic
Conversion. The amount of Securities that shall automatically convert for any 30 Trading Day
period shall equal the lesser of (i) the value of ten (10) times the Volume Weighted Average Price
of the Common Stock during such 20 day triggering period times the average daily trading volume of
the Common Stock during such 20 day period, rounded down to the nearest $1,000, and (ii) one half
of the principal amount of the Securities that have been authenticated under the Indenture as of
the date of the Automatic Conversion Notice. Each 30 Trading Day period for which an Automatic
Conversion may be triggered shall commence anew at the end of the period which triggered the
Automatic Conversion.

     The Company, or at its request (which must be received by the Trustee at least thirty (30) New
York Business Days prior to the date the Trustee is requested to give notice as described below
unless a shorter period is agreed to by the Trustee), the Trustee in the name of and at the expense
of the Company, shall send or cause to be sent a notice, such notice to be prepared by the

79

 

Company, of the Automatic Conversion not more than thirty (30) New York Business Days but not
less than twenty (20) New York Business Days before the date of effectiveness of the Automatic
Conversion as set forth in the Indenture.

     Make-Whole Payment. Upon the conversion of any Security, the Company will pay to the
Holders of the Securities so converted cash with respect to the Security so converted or redeemed
in an amount equal to U.S. $                     per $1,000 principal amount of the Securities, less the
amount of any interest paid on the Securities before the relevant Conversion Date.

     Event of Default and Remedies. If an Event of Default shall occur and be continuing,
the principal of all the Securities, together with accrued and unpaid interest, if any, to the date
of declaration, may be declared due and payable in the manner and with the effect provided in the
Indenture.

     [No Holder of any Security shall have any right to institute any proceeding, judicial or
otherwise, with respect to this Indenture, or for the appointment of a receiver or trustee, or for
any other remedy hereunder, unless (a) such Holder has previously given written notice to the
Trustee of a continuing Event of Default; (b) the Holders of not less than 25% in aggregate
principal amount of the Outstanding Securities shall have made written request to the Trustee to
institute proceedings in respect of such Event of Default in its own name as Trustee hereunder; (c)
such Holder or Holders have offered to the Trustee reasonable indemnity against the costs, expenses
and liabilities to be incurred in compliance with such request; (d) the Trustee for 30 days after
its receipt of such notice, request, and offer of indemnity has failed to institute any such
proceeding; and (e) no direction inconsistent with such written request has been given to the
Trustee during such 30-day period by the Holders of a majority in principal amount of the
Outstanding Securities; it being understood and intended that no one or more Holders of Securities
shall have any right in any manner whatever by virtue of, or by availing of, any provision of this
Indenture to affect, disturb or prejudice the rights of any other Holders of Securities (it being
understood that the Trustee does not have an affirmative duty to ascertain whether or not such
actions or forbearances are prejudicial to such Holders), or to obtain or to seek to obtain
priority or preference over any other such Holders or to enforce any right under this Indenture,
except in the manner herein provided and for the equal and proportionate benefit of all the Holders
of all Securities. The foregoing shall not apply to any suit instituted by the Holder of this
Security for the enforcement of any payment of principal hereof, premium, if any, Make-Whole
Payment, if any, or interest hereon on or after the respective due dates expressed herein or for
the enforcement of the right to convert, redeem or repurchase this Security as provided in the
Indenture.]

     Amendment, Supplement and Waiver. The Indenture permits, with certain exceptions as
therein provided, the amendment thereof and the modification of the rights and obligations of the
Company and the rights of the Holders of the Securities under the Indenture at any time by the
Company and the Trustee with the written consent of the Holders of a majority in principal amount
of the Securities at the time Outstanding. The Indenture also contains provisions permitting the
Holders of specified percentages in principal amount of the Securities at the time Outstanding, on
behalf of the Holders of all the Securities, to waive compliance by the Company with certain
provisions of the Indenture and certain past defaults under the Indenture and their consequences.
Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such
Holder and upon all future Holders of this Security and of any Security issued

80

 

in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is
made upon this Security or such other Security.

     Denominations; Transfer; Exchange. As provided in the Indenture and subject to
certain limitations therein set forth, the transfer of Registered Securities is registrable on the
Security Register upon surrender of a Registered Security for registration of transfer at the
Corporate Trust Office of the Trustee or at such other office or agency of the Company as may be
designated by it for such purpose at such offices or agencies as the Company may designate, duly
endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company
and the Security Registrar duly executed by, the Holder thereof or his attorney duly authorized in
writing, and thereupon one or more new Registered Securities, of authorized denominations and for
the same aggregate principal amount, will be issued to the designated transferee or transferees by
the Registrar. No service charge shall be made for any such registration of transfer or exchange,
but the Company may require payment of a sum sufficient to recover any tax or other governmental
charge payable in connection therewith.

     [In the event of a deposit or withdrawal of an interest in this Security, including an
exchange, transfer, repurchase, redemption or conversion of this Security in part only, the
Trustee, as custodian of the Depositary, shall make an adjustment on its records to reflect such
deposit or withdrawal in accordance with the Applicable Procedures.]

     Persons Deemed Owners. Prior to due presentation of a Registered Security for
registration of transfer, the Company, the Trustee, the Security Registrar and any agent of the
Company, the Trustee or the Security Registrar may treat the Person in whose name such Registered
Security is registered as the owner thereof for all purposes, whether or not such Security be
overdue, and neither the Company, the Trustee, the Security Registrar nor any such agent shall be
affected by notice to the contrary.

     Governing Law. The Indenture and this Security shall be governed by and construed in
accordance with the laws of the State of New York, United States of America, including, without
limitation, Section 5-1401 of the New York General Obligations Law.

     Authentication. Unless the certificate of authentication has been executed by the
Trustee or an Authenticating Agent by the manual signature of one of their respective authorized
signatories, this Security shall not be entitled to any benefit under the Indenture or be valid or
obligatory for any purpose.

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EXHIBIT B

CONVERSION NOTICE

     The undersigned Holder of this Security hereby irrevocably exercises the option to convert
this Security, or any portion of the principal amount hereof (which is an integral multiple of U.S.
$1,000) below designated, into shares of Common Stock in accordance with the terms of the Indenture
referred to in this Security and directs that such shares, together with a check in payment for any
fractional share and any Securities representing any unconverted principal amount hereof, be
delivered to and be registered in the name of the undersigned unless a different name has been
indicated below. If shares of Common Stock or Securities are to be registered in the name of a
Person other than the undersigned, the undersigned will pay all transfer taxes payable with respect
thereto. Any amount required to be paid by the undersigned on account of interest accompanies this
Security.

	 	 	 	 	 	 	 	 	 
	Dated:
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	Signature

	 	 	 	 	 	 	 	 	 	 	 	 	 
	If shares or Registered Securities
are registered in the name of a
Person other than the Holder,
please print such Person’s name
and address	 	If only a portion of the Securities is
to be to be converted, please
indicate:
	 
	 	 	 	 	 	 	 	1.	 	 	Principal amount to be converted:
	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	U.S. $                    
                    
                    
                    
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 	 	Address	 	 	 	 	 	 	 	(any integral multiple of U.S. $1,000)
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	
Social Security or other Taxpayer Identification Number, if any	 	 	2.	 	 	Principal amount and denomination
of Registered Securities representing unconverted principal amount to be issued:
	 	 	 	 	 	
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	Signature Guaranteed
	 	 	 	 	 	 	 	 	 	Amount: U.S. $                    

82

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