Document:

EX-10.1

 

Exhibit 10.1

EMPLOYMENT AGREEMENT

     AGREEMENT dated as of the 5th day of January, 2006 between Barr Pharmaceuticals,
Inc. (“BPI”) , a Delaware corporation having its principal executive offices at 400 Chestnut Ridge
Road, Woodcliff Lake, New Jersey 07677, and Duramed Pharmaceuticals, Inc., a Delaware corporation
having its principal executive offices at 1 Belmont Avenue, Bala Cynwd, PA 19004 (“DPI’), parties
of the first part, and G. Frederick Wilkinson (the “Employee”).

     BPI and DPI and the Employee hereby agree as follows:

     1. Employment. The Company agrees to employ the Employee, and the Employee agrees to remain in
the employ of the Company, during the term of this Agreement and on the other terms and conditions
hereafter set forth. Subject to paragraph 13(d) below, where used in this Agreement, the “Company”
means BPI or, commencing on the effective date of any assignment of BPI’s rights or obligations in
accordance with paragraph 13(d) below, the Permitted Assignee (as such term is defined in that
paragraph) to which such rights or obligations are so assigned.

     2. Term. The term of this Agreement shall commence on March 6, 2006 (the “Commencement Date”)
and shall terminate at 5 P.M. on the third anniversary of the Commencement Date unless sooner
terminated in accordance with the terms of this Agreement or extended as hereinafter provided. The
term of this Agreement shall be extended, without further action by BPI or the Employee, on the
date (the “Extension Effective Date”) which is six months before the third anniversary of the
Commencement Date and on the date (also an “Extension Effective Date”) which is six months before
each subsequent anniversary of the Commencement Date, for successive periods of twelve months each,
unless either BPI or an Affiliate (as defined in paragraph 3(a) below) shall have given written
notice to the Employee, or the Employee shall have given written notice to BPI, in the manner set
forth in paragraph 13(e) or (f) below, prior to the Extension Effective Date in question, that the
term of this Agreement that is in effect at the time such written notice is given is not to be
extended or further extended, as the case may be. Examples that illustrate the intended operation
of the preceding sentence appear in the Appendix to this Agreement.

     3.
Positions and Responsibilities; Place of Performance.

          (a) (i) Throughout the term of this Agreement, the Employee agrees to remain in
the employ of the Company, and the Company agrees to employ the Employee, as the President and
Chief Operating Officer of DPI, reporting to the President and Chief Operating Officer of BPI (the
“COO”). As the President and Chief Operating Officer of DPI, the Employee shall be responsible for
directing, managing and overseeing all commercial and developmental proprietary pharmaceutical
activities conducted by BPI or any Affiliate (as defined below), including sales, marketing,
managed care, clinical trials and medical affairs related to such activities, and including any
such activities conducted by DPI on behalf of BPI or any Affiliate, but excluding business

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development to the extent responsibility therefor is shared on the date of this Agreement with
other members of management and excluding shared services such as regulatory affairs, regulatory
quality control, information technology and systems, finance and human resources, subject only to
the authority of the COO, the Chairman and CEO of BPI (the “CEO”) and the Board of Directors of BPI
(the “BPI Board”), and, except for the aforementioned exclusions, shall have all of the powers,
authority, duties and responsibilities usually incident to the position and role of a President and
Chief Operating Officer of companies that are comparable in size, character and performance to DPI,
and such other reasonable duties, consistent with the position of such a President and Chief
Operating Officer, as may be lawfully assigned to him by the COO, the CEO or the BPI Board. As used
in this paragraph 3(a) and elsewhere in this Agreement, the term “Affiliate” means any “person” (as
such term is used in sections 13(d) and 14(d)(2) of the Securities Exchange Act of 1934, as
amended) that directly, or indirectly through one or more intermediaries, controls, or is
controlled by, or is under common control with, BPI. For the purposes of the preceding sentence,
the word “control” (by itself and as used in the terms “controlling”, “controlled by” and “under
common control with”) means the possession, direct or indirect, of the power to direct or cause the
direction of the management and policies of a “person”, whether through the ownership of voting
securities, by contract, or otherwise.

               (ii) Pursuant to the terms of the Employee’s previous
employment agreement with his former employer, the Employee’s responsibilities set forth in
subparagraph 3(a)(i) above shall expressly exclude Oral Micronized Progesterone and Progesterone
Ring, both of which are currently under development by the Company, during the first year of the
Employee’s employment. This limitation on the Employee’s responsibilities, however, shall
automatically expire after the first anniversary of the Employee’s employment. This limitation on
responsibility shall have no effect on the Employee’s compensation or benefits under this
Agreement.

               (iii) The Employee agrees to serve as an officer and member of the board of directors of
BPI and any Affiliate if he is elected or appointed to serve as such during the term of this
Agreement, without additional compensation beyond that provided in this Agreement. Nothing in this
Agreement shall be interpreted or construed to constitute an agreement, representation or warranty
by BPI or DPI that the Employee will be elected or appointed to the board of directors of BPI or
any Affiliate.

          (b) In connection with his employment by Company, the Employee shall be based at the principal
executive offices of BPI in the greater New York City metropolitan area but agrees to travel, to
the extent reasonably necessary to perform his duties and obligations under this Agreement, to
Company facilities and other destinations elsewhere at the Company’s expense.

          (c) During the term of this Agreement, the Employee shall serve the Company on an exclusive
basis (it being understood that the Employee’s engaging in activities on behalf of BPI or an
Affiliate shall be deemed serving the Company for this purpose) and shall devote all his business
time, attention, skill and efforts to the faithful

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performance of his duties hereunder; provided that the Employee may engage in community service and
charitable activities and, with the approval of the BPI Board, may serve as a member of the board
of directors of other companies (and retain remuneration for such service) if such activities and
service do not materially interfere with the performance of his duties and responsibilities
hereunder.

     4. Compensation. For all services rendered by the Employee in any capacity during the
term of this Agreement, and for his undertakings with respect to confidential information,
non-solicitation and disparaging remarks set forth in sections 6 and 7 below, the Employee shall be
entitled to the following:

          (a) a salary, payable in installments not less frequent than monthly, at the annual rate of
six hundred thousand dollars ($600,000), with such increases in such rate, if any, as the
Compensation Committee of the BPI Board may approve from time to time during the term of this
Agreement in accordance with BPI’s regular administrative practices applicable to senior officers
from time to time during the term of this Agreement (the annual salary rate as increased from time
to time during the term of this Agreement being hereafter referred to as the “Base Salary”);

          (b) participation in BPI’s annual executive incentive or
bonus plan as in effect from time to time, with the opportunity to receive an award in accordance
with the terms and conditions of such plan, for each fiscal year of BPI that commences or
terminates during the term of this Agreement, of up to 50% of the Employee’s Base Salary earned
during such year (or such higher percentage as the BPI Board or a committee of the BPI Board may
allow from time to time during the term of this Agreement), it being understood that any award for
the fiscal year of BPI in which the term of this Agreement commences or terminates pursuant to the
terms hereof shall be prorated based on the portion of such fiscal year that coincides with the
term of this Agreement and shall be made at the same time as awards (if any) are made to other
participants with respect to such fiscal year. The Employee recognizes and agrees that the BPI
Board may defer the payment of any portion of his annual bonus to the extent that, and for such
period of time and on such terms and subject to such conditions as, may be reasonably necessary to
avoid a loss by BPI or an Affiliate of a tax deduction with respect to such portion of his annual
bonus under section 162(m) of the Internal Revenue Code and to avoid any inclusion of such portion
of his annual bonus or any other amount in the Employee’s gross income pursuant to section
409A(a)(l)(A) of the Internal Revenue Code. Any such deferred amount shall be non-forfeitable,
shall constitute an unfunded, unsecured obligation of the Company, and until paid shall be deemed
invested in such hypothetical investments as the Employee may select from among the hypothetical
investment options that are available from time to time during the deferral period under BPI’s
excess 401(k) plan or, if no such investment options are available at the time in question under
that plan, then from among the same hypothetical investment options that were available under BPI’s
excess 401(k) plan on the date hereof or a reasonable facsimile thereof;

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          (c) participation in BPI’s stock and incentive award plan as from time to time in
effect, with an initial grant under such plan of stock appreciation rights (“SARs”) with respect to
a total of 75,000 shares of BPI common stock, subject to the terms and conditions of the plan, such
other terms and conditions consistent with the terms of such plan as the Board or a committee of
the Board granting the options (the Administrator”) may impose, and the following terms and
conditions:

     (i) the exercise price at which the SARs may be exercised shall be the
fair market value of the shares on the date on which the SARs are granted (the
“Grant Date”); and

     (ii) the SARs shall become exercisable in five equal annual installments
of 15,000 SARs each commencing on the first anniversary of the Grant Date and
continuing on each of the four succeeding anniversaries of the Grant Date, provided
in the case of each such installment that the Employee’s full-time employment by
the Company continues until the anniversary date in question; and

     (iii) to the extent not therefore exercisable, the SARs shall become
exercisable on the date, if any, on which a Change in Control (as defined in BPI’s
Stock Incentive and Award Plan as in effect on the date of this Agreement) occurs,
if the Employee’s full-time employment by the Company continues until that date,
provided that, if such Change in Control occurs less than six months after the
Grant Date, the Employee agrees in writing (if requested to do so by the
Administrator) to remain in the employ of the Company or a subsidiary at least
through the date which is six months after the Grant Date with substantially the
same title, duties, authority, reporting relationships and compensation as on the
day immediately preceding such Change in Control; and

     (iv) the SARs shall expire on the tenth anniversary of the Grant Date
unless the Employee’s employment terminates before that date, in which case the
SARs shall expire upon such termination of employment or within such period of time
thereafter as the Administrator may specify in the instrument evidencing the grant
of the SARs; and

     (v) any amount payable by BPI in respect of any exercise of the SARs
shall be paid in the form of BPI common stock, and will not be paid in the form of
cash.

The Employee will be eligible to participate in annual grants under BPI’s stock and incentive award
plan commencing with the grant anticipated in July 2006. The time at which any such grants are to
be made, and the type, amount and terms and conditions of any such grants, shall be determined by
the Compensation Committee of the Board in its sole discretion;

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          (d) the business and personal use of an automobile at Company expense including, without
limitation, payment or reimbursement of automobile insurance and maintenance expenses in accordance
with BPI’s automobile policy applicable to senior officers on the Commencement Date or, in lieu of
the business and personal use of an automobile at Company expense, a $1,500 monthly cash allowance;
and

          (e) participation in all health, welfare, savings and other employee benefit and fringe
benefit plans (including vacation pay plans or policies and life and disability insurance plans) in
which other senior officers of BPI or DPI participate during the term of this Agreement, subject in
all events to the terms and conditions of such plans as in effect from time to time. Nothing in
this paragraph (e) shall preclude BPI or any Affiliate from amending or terminating any such plan
at any time. The plans covered by this paragraph (e) shall not include the annual incentive or
stock incentive plans, which are covered by paragraphs (b) and (c) above.

     5. Termination of Employment.

          (a) Termination by BPI or an Affiliate without Good Cause or by the Employee for
Good Reason.

               (i) If the Employee’s employment with the Company is
terminated by BPI or an Affiliate without Good Cause (except as an incident of assigning the rights
to Employee’s services to a Permitted Assignee in accordance with paragraph 13(d) below) or is
terminated by the Employee for Good Reason, in either case during the term of this Agreement and
other than at the expiration of the term of this Agreement as the same may have been extended in
accordance with the provisions of section 2 above (any such employment termination being hereafter
referred to as a “Compensable Termination”), the Company shall pay the Employee the portion of his
Base Salary accrued through the date of the Compensable Termination and any other amounts to which
he is entitled by law or pursuant to the terms of any compensation or benefit plan or arrangement
in which he participated prior to the Compensable Termination and, in addition, subject to
compliance by the Employee with the provisions of sections 6 and 7 below, relating to confidential
information, non-solicitation and disparaging remarks, the Company shall, as liquidated damages or
severance pay or both (whichever characterization(s) will serve to validate the payments), and as
additional consideration for the Employee’s undertakings under sections 6 and 7 below, pay the
Employee the following:

                      (A) his annual bonus for the fiscal year of BPI
preceding the fiscal year of BPI in which the Compensable Termination occurs, if unpaid at the time
of the Compensable Termination, the amount of such bonus to be determined by the Compensation
Committee of the BPI Board on a basis consistent with the prior bonus determinations with respect
to the Employee or, in the event a Change in Control or Potential Change in Control (as defined in
section 11 below) occurred before the Compensable Termination, consistent with the bonus
determinations with respect to the

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Employee prior to the Change in Control or Potential Change in Control, unless the Board or a
committee of the Board made no bonus determinations with respect to the Employee before the
Compensable Termination or, if applicable, before the Change in Control or Potential Change in
Control, in which case consistent with the Board’s or Board committee’s bonus determinations with
respect to the President of Duramed Research Inc. before the Compensable Termination or, if
applicable, before the Change in Control or Potential Change in Control; and

                      (B) a prorated annual bonus for the fiscal year of BPI in which the Compensable Termination
occurs, such prorated annual bonus to be determined by multiplying
the “Applicable Average Bonus”
as defined below in this subparagraph 5(a)(i)(B) by a fraction the numerator of which shall be the
number of days elapsed in such fiscal year through (and including) the date on which the
Compensable Termination occurs and the denominator of which shall be the number 365. For purposes
of this Agreement, the “Applicable Average Bonus” means the higher of (I) the average
annual bonus (including any deferred bonus) awarded to the Employee during the three year period
immediately preceding the Compensable Termination or, if the Employee was employed by the Company
for less than three years before the Compensable Termination, during the period of his employment
by the Company prior to the Compensable Termination (annualizing any bonus awarded for less than a
full year of employment), or (II) the average annual bonus (including any deferred bonus) awarded
to the Employee during the three fiscal years of the Company that precede the fiscal year in which
the Compensable Termination occurs or during the portion of such three fiscal years in which he was
employed by the Company (annualizing any bonus awarded for less than a full year of employment);
provided that, if the Compensable Termination occurs after a Change in Control or Potential Change
in Control, the Applicable Average Bonus shall not be less than the average annual bonus (including
any deferred bonus) awarded to the Employee during the three years preceding the date on which the
Change in Control or Potential Change in Control occurred or during the portion of such three years
in which he was employed by the Company (annualizing any bonus awarded for less than a full year of
employment); and

                      (C) an amount of money (the “Severance Payment”)
equal to two and one-half (21/2) times the Employee’s “Annual Cash Compensation” as hereafter
defined, unless the Severance Payment is payable solely on account of the Employee’s resignation
for Good Reason pursuant to subparagraph 5(d)(v) below (relating to BPI or an Affiliate giving the
Employee notice of non-extension), in which case the Severance Payment shall be equal to one and
one-quarter
(11/4) times the Employee’s “Annual Cash Compensation” as hereafter defined. Except as
otherwise provided hereafter in this subparagraph 5(a)(i)(C), sixty percent (60%) of the Severance
Payment shall be paid in a lump sum within ten days after the date of the Compensable Termination.
The forty percent (40%) balance of the Severance Payment shall be paid in twelve (12) equal monthly
installments one of which shall be paid at the end of each of the first twelve (12) months after
the date of the Compensable Termination, provided, in the case of each of such 12 installments,
that the Employee has not accepted full-time or regular part-time employment with or regularly
served as a consultant to a for-profit

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pharmaceutical company prior to the date for payment of such installment, it being understood and
agreed that the foregoing condition shall not be violated by the Employee’s serving as a member of
a board of directors of a for-profit pharmaceutical company or by his performing consulting
services on an ad hoc basis for such a company. If a Change in Control or Potential Change
in Control as defined in section 11 below occurs (either before or after the Compensable
Termination), the Severance Payment (or, in the case of a Change in Control or Potential Change in
Control that occurs after the Compensable Termination, any portion thereof that remains unpaid at
the time such Change in Control or Potential Change in Control occurs) shall be paid in a lump sum
within ten days after the Compensable Termination (or, in the case of a Change in Control or
Potential Change in Control that occurs after the Compensable Termination, within ten days after
the Change in Control or Potential Change in Control occurs), and the two preceding sentences of
this subparagraph shall not apply. In addition, if the Severance Payment is payable solely on
account of the Employee’s resignation for Good Reason pursuant to subparagraph 5(d)(v) below
(relating to BPI or an Affiliate giving the Employee notice of non-extension), the Severance
Payment shall be paid in a lump sum within ten days after the Employee resigns for such Good
Reason, and the second and third preceding sentences of this subparagraph shall not apply. During
the 18 month period following a Compensable Termination, the Company shall also provide the
Employee with COBRA coverage at its expense. For purposes of this section 5, the Employee’s “Annual
Cash Compensation” shall mean the sum of (I) the Employee’s highest Base Salary (i.e., one year’s
salary at its highest rate), plus (II) the “Applicable Average Bonus” as defined in subparagraph
5(a)(i)(B) above.

               (ii) If the term of this Agreement as the same may have been extended in accordance with
the provisions of section 2 above is not extended or further extended because BPI or an Affiliate
gives written notice of non-extension to the Employee as provided in section 2 above, and there is
not Good Cause for termination of the Employee’s employment at the time of giving such notice, and
the Employee does not thereafter resign for Good Reason during the term of this Agreement as
permitted by paragraph 5(d)(v) below, then the Company, subject to fulfillment by the Employee of
his obligations under this Agreement during the balance of the term and his compliance with the
provisions of sections 6 and 7 below, relating to confidential information, non-solicitation and
disparaging remarks, shall, as non-renewal compensation, and as additional consideration for the
Employee’s undertakings under this Agreement including sections 6 and 7 below, pay the Employee an
amount of money (the “Non-Renewal Payment”) equal to the Employee’s Annual Cash Compensation as
defined in subparagraph 5(a)(i)(C) above, in addition to any other amounts to which the Employee
may be entitled hereunder (including without limitation his annual bonus pursuant to paragraph 4(b)
above for the fiscal year of BPI in which his employment terminates and any amounts to which he may
be entitled under section 8, 9 or 10 below) or by law or pursuant to the terms of any compensation
or benefit plan or arrangement in which he participated before his employment terminated. The
Non-Renewal Payment shall be paid in a lump sum within ten days after the date on which the
Employee’s employment terminates. During the 18 month period following the termination of his
employment, the Company shall also provide the Employee with COBRA coverage at its expense.

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               (iii) The foregoing provisions of (including any payments
under) this paragraph 5(a) shall be in lieu of any severance pay that may be payable under any plan
or practice of BPI or any Affiliate, but shall be in addition to (and not in lieu of) any payments
to which the Employee may be entitled under sections 8, 9 and 10 below. Subparagraphs 5(a)(i)(C)
and 5(a)(ii) above are intended to be mutually exclusive, and in no event shall such subparagraphs,
either individually or collectively, be construed to require the Company to pay an amount of money
in excess of two and one-half (21/2) times the Employee’s Annual Cash Compensation under such
subparagraphs, either individually or collectively, in addition to the 18 months of COBRA coverage
provided for therein. The Employee shall not be required to mitigate the amount of any payment or
benefit provided for in this Agreement (including but not limited to any payment provided for above
in this paragraph 5(a)) by seeking other employment or otherwise, nor shall any compensation earned
by the Employee in other employment or otherwise reduce the amount of any payment or benefit
provided for in this Agreement.

     (b) Termination by BPI or an Affiliate for Good Cause or by the Employee without Good
Reason. If, during the term of this Agreement, the Employee’s employment by the Company and its
subsidiaries is terminated by BPI or an Affiliate for Good Cause or by the Employee without Good
Reason, the Employee shall not be entitled to receive any compensation under section 4 above
accruing after the date of such termination or any payment under paragraph 5(a) above. However, any
obligations of BPI or the Company under sections 8, 9 and 10 shall not be affected by such
termination of employment. The provisions of this paragraph 5(b) shall be in addition to, and not
in lieu of, any other rights and remedies the Company may have at law or in equity or under any
other provision of this Agreement in respect of such termination of employment. However, if during
the term of this Agreement the Employee’s employment is terminated by the Employee without Good
Reason and the Employee gives BPI at least 120 days’ advance notice of such termination, then the
Employee shall not have any obligation or liability to BPI or any Affiliate under this Agreement on
account of such termination of employment, but his obligations under Section 6 and 7 hereof shall
not be affected by such termination of employment.

     (c) Good Cause Defined. For purposes of this Agreement,
BPI and its Affiliates shall have “Good Cause” to terminate the Employee’s employment by the
Company during the term of this Agreement only if:

               (i) (A) the Employee fails to substantially perform his duties
hereunder for any reason or to devote substantially all his business time exclusively to the
affairs of the Company (including Company activities on behalf of BPI or an Affiliate), other than
by reason of a medical condition that prevents the Employee from substantially performing his
duties hereunder even with a reasonable accommodation by the Company, or fails to obtain the
consent of the BPI Board to his service on the board of directors of another company, and (B) such
failure is not discontinued within a reasonable period of time, in no event to exceed 30 days,
after the Employee receives written notice from BPI or an Affiliate of such failure; or

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               (ii) the
Employee commits an act of dishonesty resulting or intended to result directly or indirectly in gain or personal enrichment at the expense of BPI
or an Affiliate, or engages in conduct that constitutes a felony in the jurisdiction in which
the Employee engages in such conduct; or

               (iii) the Employee is grossly negligent or engages in willful misconduct or
insubordination in the performance of his duties hereunder; or

               (iv) the Employee materially breaches his obligations under section 6 or paragraph 7(a)
below, relating to confidential information and non-solicitation.

Any foregoing provision of this paragraph 5(c) to the contrary notwithstanding, BPI and its
Affiliates shall not have “Good Cause” to terminate the Employee’s employment within three years
after a Change in Control or Potential Change in Control (as such terms are defined in section 11
below) unless (A) the Employee’s act or omission is willful and has a material adverse effect upon
BPI, (B) the BPI Board gives the Employee (I) written notice warning of its intention to terminate
the Employee for Good Cause if the specified act or omission alleged to constitute Good Cause is
not discontinued and, if curable, cured, and (II) a reasonable opportunity after receipt of such
written notice, but in no event less than two weeks, to discontinue and, if curable, cure the
conduct alleged to constitute Good Cause, and (C) the Employee fails to discontinue and, if
curable, cure the act or omission in question; provided that clauses (B) and (C) of this sentence
shall not apply with respect to conduct on the part of the Employee that constitutes a felony in
the jurisdiction in which the Employee engages in such conduct, and, provided further, that this
sentence shall not apply to conduct involving moral turpitude. For all purposes of this Agreement,
no act, or failure to act, on the Employee’s part shall be deemed “willful” unless done, or omitted
to be done, by him intentionally and in bad faith (i.e., without reasonable belief that his action
or omission was in furtherance of the interests of BPI or an Affiliate).

          (d) Good Reason Defined. For purposes of this Agreement, the Employee shall have “Good
Reason” to terminate his employment during the term of this Agreement only if:

               (i) the Company fails to pay or provide any amount or benefit that the Company is
obligated to pay or provide under section 4 above or section 8, 9 or 10 below and the failure is
not remedied within 30 days after BPI receives written notice from the Employee of such failure; or

               (ii) the Employee is assigned duties, responsibilities or

reporting relationships not contemplated by section 3 above without his consent, or his duties or
responsibilities or power or authority contemplated by section 3 above are limited in any respect
materially detrimental to him, and in either case the situation is not

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remedied within 30 days after BPI receives written notice from the Employee of the situation;
or

               (iii) he
is removed from, or not elected or reelected to, the office, title or position of President and Chief Operating Officer of DPI, and BPI and the
Affiliates do not have Good Cause for doing so; or

               (iv) BPI or an Affiliate relocates his office outside of either the Company’s principal
executive offices or the greater New York City metropolitan area without his written consent (given
in a personal rather than representative capacity), and the situation is not remedied within 30
days after BPI receives written notice from the Employee of the situation; or

               (v) BPI or an Affiliate gives the Employee written notice, in the manner set forth in
paragraph 13(e) or (f) below, prior to any Extension Effective Date, that the term of this
Agreement that is in effect at the time such written notice is given is not to be extended or
further extended, as the case may be; provided that the giving of such written notice to the
Employee shall constitute Good Reason only if and when the Employee shall have performed such of
his duties and responsibilities for such period of time, in no event to exceed ninety (90) days
after the giving of such notice, as the COO, the CEO or the BPI Board may reasonably request in
writing to transition his duties and responsibilities; or

               (vi) a Change in Control occurs and as a result thereof either
(A) equity securities of BPI cease to be publicly-traded, or (B) the Employee is not elected or
designated to serve as the sole President and Chief Operating Officer of DPI or its survivor in the
Change in Control; or

               (vii) a Change in Control or Potential Change in Control occurs and (A) the dollar value
of the stock optioned to the Employee annually thereafter is less than the average annual dollar
value of the stock that was optioned to the Employee during the four years prior to the Change in
Control or Potential Change in Control, or
(B) the material terms of such options (including without limitation vesting schedules) are less
favorable to the Employee than the material terms of the options that were granted to the Employee
during the four years prior to the Change in Control or Potential Change in Control, and in either
case (A) or (B) the situation is not remedied within 30 days after BPI receives written notice from
the Employee of the situation. For purposes of (A) and (B) of this subparagraph 5(d)(vii), if
free-standing stock appreciation rights are granted to the Employee (such as those described in
paragraph 4(c) above), the stock subject to such rights shall be considered stock that is optioned
to the Employee, and if alternative stock appreciation rights (aka tandem stock appreciation
rights) are granted to the Employee, the stock appreciation rights shall be considered terms of the
options to which they are alternative/tandem; or

               (viii) BPI or a Permitted Assignee attempts to assign any of its rights or obligations
under this Agreement other than in accordance with paragraph 13(d)

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below and does not remedy the situation within 30 days after BPI receives written notice from the
Employee of the situation.

In no event shall the Employee’s continued employment after any of the foregoing constitute
his consent to the act or omission in question, or a waiver of his right to terminate his
employment for Good Reason hereunder on account of such act or omission.

          (e) Disability

               (i) Notwithstanding any provision of this Agreement to the contrary, (A) if during the
term of this Agreement as the same may be extended from time to time pursuant to section 2 above, a
medical condition prevents the Employee, even with a reasonable accommodation by the Company, from
substantially performing his duties hereunder (it being understood that a transitory illness, such
as a cold or flu, that prevents the Employee from substantially performing his duties hereunder
during a brief period is not such a medical condition), then until the date, if any, on which the
Employee recovers from such medical condition (the “Evaluation Period”), BPI or an Affiliate may
terminate the Employee’s employment only pursuant to subparagraph 5(e)(ii) below (a “Disability
Termination”) or for willful misconduct constituting Good Cause under paragraph 5(c) above, and (B)
if any notice of non-extension of the term of this Agreement was given before the Evaluation
Period, or is given during the Evaluation Period, whether by BPI, an Affiliate or the Employee,
pursuant to section 2 above, and, but for this clause (B), the term of this Agreement would expire
during the Evaluation Period as a result of such notice of non-extension having been given, then
the term of this Agreement will automatically be extended without action by any party until the
Employee recovers from such medical condition. For purposes of this paragraph 5(e), the Employee
will be deemed to recover from a medical condition only if and when he both (I) has been able to
substantially perform his duties hereunder (either with or without a reasonable accommodation by
the Company) for more than six months, consecutive or non-consecutive, within any period of 12 or
fewer consecutive months commencing on or after the commencement of the Evaluation Period, and (II)
is not entitled to receive long-term disability (“LTD”) benefits under a LTD plan of BPI or a
Subsidiary.

               (ii) Except as otherwise provided in subparagraph 5(e)(i)
above, during the Evaluation Period, BPI or an Affiliate may terminate the Employee’s employment
only in the event of a “Disability”, which for this purpose means that a medical condition either
(A) has prevented the Employee, even with a reasonable accommodation by the Company, from
substantially performing his duties hereunder for six months, consecutive or non-consecutive, in
any period of 12 or fewer consecutive months, or (B) entitles the Employee to receive LTD benefits
under a LTD plan of BPI or any Subsidiary. The Company will give the Employee at least ten (10)
days advance written notice of a Disability Termination. Notwithstanding any provision of this
Agreement to the contrary, a Disability Termination will not be treated as a termination to which
the provisions of paragraph 5(a) or 5(b) apply.

Page 11 of 26

 

               (iii) In the event of a Disability Termination, the Company will pay or provide the
Employee with the following:

                      (A) With respect to the period ending on the date of the
Disability Termination, the Employee will receive all of the compensation and benefits provided by
Section 4 above. The amount of any compensation payable to the Employee with respect to the period
ending on the date of the Disability Termination may be reduced by (I) any payments which the
Employee receives with respect to the same period because of short- or long-term disability under
any disability plan of BPI or any Subsidiary, and (II) any income (whether from Social Security,
workers compensation or any other source) that is deducted in computing the amount of such payments
under any disability plan of BPI or any Subsidiary;

                      (B) During the period from the date of the Disability
Termination until the first to occur of (I) the date, if any, on which the Employee recovers from
the disabling medical condition, (II) the Employee’s attainment of age 65, and (III) the death of
the Employee (such period being referred to in subparagraph 5(e)(iii)(C) below as the “LTD
Period”), the Company will pay the Employee a monthly amount of money equal to the excess, if any,
of (aa) over (bb) where (aa) is 60% of one-twelfth (l/12th) of the Employee’s Base
Salary (as defined in subparagraph 4(a) above) immediately before the Disability Termination (i.e.,
60% of the Employee’s monthly salary at its highest rate), and (bb) is the sum of (1) the monthly
LTD benefit (if any) which the Employee receives with respect to the same month under a LTD plan of
BPI or any Subsidiary, plus (2) any income (whether from Social Security, workers compensation or
any other source) that is deducted in computing the amount of such monthly LTD benefit; and

                      (C) Promptly following the LTD Period as defined in
subparagraph 5(e)(iii)(B) above (and whether or not the Employee received payments pursuant to that
subparagraph during the LTD Period), the Company will pay the Employee or his estate or designated
beneficiary a lump sum amount of money equal to the excess, if any, of (I) over (II) where (I) is
the Severance Payment as defined in subparagraph 5(a)(i)(C) above, and (II) is the cumulative
monthly payments made by the Company to the Employee pursuant to subparagraph 5(e)(iii)(B) above
(if any). In calculating the amount payable pursuant to this subparagraph 5(e)(iii)(C) (including
the payments made pursuant to subparagraph 5(e)(iii)(B) above), no adjustments will be made for
interest or otherwise for the time value of money.

The payments and benefits provided by the foregoing provisions of this subparagraph 5(e)(iii) are
in addition to and not in lieu of any other amounts to which the Employee is entitled by law or
pursuant to the terms of any compensation or benefit plan or arrangement in which he participated
prior to the Disability Termination, and any amounts payable pursuant to section 8, 9 or 10 below.

     6. Confidential
Information. The Employee agrees not to disclose, either while
in the Company’s employ or at any time thereafter, to any person not employed by BPI or an
Affiliate, or not engaged to render services to BPI or an Affiliate, except with

Page 12 of 26

 

the prior written consent of an authorized officer of BPI or an Affiliate or as necessary or
appropriate for the performance of his duties hereunder, any confidential information obtained by
him while in the employ of the Company, including, without limitation, information relating to any
of the inventions, processes, formulae, plans, devices, compilations of information, research,
methods of distribution, suppliers, customers, client relationships, marketing strategies or trade
secrets of BPI or any Affiliate; provided, however, that this provision shall not preclude the
Employee from use or disclosure of information known generally to the public or of information not
considered confidential by persons engaged in the businesses conducted by BPI or any Affiliate, or
from disclosure required by law or court order. The Employee also agrees that upon leaving the
Company’s employ he will not take with him, without the prior written consent of an authorized
officer of the Company, and she will surrender to the Company, any record, list, drawing,
blueprint, specification or other document or property of BPI or an Affiliate, together with any
copy or reproduction thereof, mechanical or otherwise, which is of a confidential nature relating
to BPI or an Affiliate, or without limitation, relating to its or their methods of distribution,
suppliers, customers, client relationships, marketing strategies or any description of any formulae
or secret processes, or which was obtained by him or entrusted to him during the course of his
employment with the Company.

     7. Restrictive Covenants

          (a)
Non-Solicitation. Employee covenants and agrees that, during his employment by the
Company and during the one year period immediately following the termination of his employment with
the Company for any reason (including, without limitation, a termination of employment by BPI or an
Affiliate without cause and a voluntary termination of employment by the Employee, in either case
whether during the term of this Agreement, at the expiration of the term of this Agreement or at
any time thereafter), he will not solicit or attempt to persuade any employee of BPI or any
Affiliate (except the Employee’s personal secretary or administrative assistant), or any other
person who performs services for BPI or an Affiliate at the time the Employee’s employment
terminates or at any time within one year thereafter, to terminate or reduce or refrain from
engaging in his or her employment or other service relationship with BPI or an Affiliate; provided,
however, that responding to inquiries from any such employees or other persons that are not
initiated by the Employee, and subsequently hiring such employees or other persons following the
termination of their employment with BPI and any Affiliates shall be permitted.

          (b)
Specific Enforcement. Employee recognizes and agrees that, by reason of his
knowledge, experience, skill and abilities, his services are extraordinary and unique, that the
breach or attempted breach of any of the restrictions set forth above in this section 7 will result
in immediate and irreparable injury for which the Company will not have an adequate remedy at law,
and that the Company shall be entitled to a decree of specific performance of those restrictions
and to a temporary and permanent injunction enjoining the breach thereof, and to seek any and all
other remedies to which the

Page 13 of 26

 

Company may be entitled, including, without limitation, monetary damages, without
posting bond or furnishing security of any kind.

     (c) Restrictions
Reasonable. Employee specifically and expressly represents and
warrants that (i) he has reviewed and agreed to the restrictive covenants contained in this section
7 and their contemplated operation after receiving the advice of counsel of his choosing; (ii) he
believes, after receiving such advice, that the restrictive covenants and their contemplated
operation are fair and reasonable; (iii) he will not seek or attempt to seek to have the
restrictive covenants declared invalid, and, after receiving the advice of counsel, expressly
waives any right to do so; and (iv) if the full breadth of any restrictive covenant and/or its
contemplated operation shall be held in any fashion to be too broad, such covenant or its
contemplated operation, as the case may be, shall be interpreted in a manner as broadly in favor of
the beneficiary of such covenant as is legally permissible. Employee recognizes and agrees that the
restrictions on his activities contained in this section 7 are required for the reasonable
protection of BPI and its investments; and that the restriction on his activities set forth in
paragraph 7(a) will not deprive the Employee of the ability to earn a livelihood.

     (d) Non-Disparagement. Employee covenants and agrees that, during the one year period
immediately following the termination of his employment with the Company for any reason (including,
without limitation, a termination of employment by BPI or an Affiliate without cause and a
voluntary termination of employment by the Employee, in either case whether during the term of this
Agreement, at the expiration of the term of this Agreement or at any time thereafter), he will not
make disparaging remarks about BPI or any Affiliate or any of their officers, directors or
employees, unless required by law or reasonably necessary to assert or defend his position in a
bona fide dispute arising out of or relating to this Agreement or the breach thereof.

     (e) Effect
on Termination Payments. The Employee recognizes and agrees that the
Company shall not be obligated to make any payments provided for in paragraph 5 (a) or 5(e) above
if the Employee violates the provisions of section 6 or paragraph 7(a) or 7(d) above during the one
year period immediately following the termination for any reason of his employment with the
Company. In addition, the Employee recognizes and agrees that, if the Employee violates such
provisions, the Company may recoup any payments the Company may have theretofore made pursuant to
paragraph 5(a) or 5(e) above and any payments it may thereafter make under paragraph 5(a) or 5(e).
The foregoing provisions of this paragraph 7(e) shall be in addition to and not by way of
limitation of any other rights and remedies the Company may have in respect of the violation in
question.

     8. Indemnification

          To the fullest extent permitted by applicable law, the Company shall indemnify, defend and
hold harmless the Employee from and against any and all claims, demands, actions, causes of action,
liabilities, losses, judgments, fines, costs and expenses (including reasonable attorneys’ fees and
settlement expenses) arising from or relating to his service or status as an officer, director,
employee, agent or representative

Page 14 of 26

 

of BPI or any Affiliate, or in any other capacity in which the Employee serves or has served
at the request of, or for the benefit of, BPI or an Affiliate. The Company’s obligations under this
section 8 shall be in addition to, and not in derogation of, any other rights the Employee may have
against BPI or any Affiliate to indemnification or advancement of expenses, whether by statute,
contract or otherwise.

     9. Certain Additional Payments by the Company

          (a) Anything in this Agreement (other than the second sentence of this paragraph 9(a)) to the
contrary notwithstanding, in the event it shall be determined that any payment or distribution by
BPI or an Affiliate to or for the benefit of the Employee (whether paid or payable or distributed
or distributable pursuant to the terms of this Agreement or otherwise, but determined without
regard to any additional payments required under this section 9) (a “Payment”), would be subject to
the excise tax imposed by Section 4999 of the United States Internal Revenue Code (the “Code”) or
any interest or penalties are incurred by the Employee with respect to such excise tax (such excise
tax, together with any such interest and penalties, are hereinafter collectively referred to as the
“Excise Tax”), then the Employee shall be entitled to receive an additional payment (a “Gross-Up
Payment”) in an amount such that after payment by the Employee of all taxes and any benefits that
result from the deductibility by the Employee of such taxes (including, in each case, any interest
or penalties imposed with respect to such taxes), including, without limitation, any income taxes
(and any interest and penalties imposed with respect thereto) and Excise Tax imposed upon the
Gross-Up Payment, the Employee retains an amount of the Gross-Up Payment equal to the Excise Tax
imposed upon the Payments. However, if it shall be determined that none of the Payments would be
subject to the Excise Tax if the total Payments were reduced in the aggregate by $25,000 or less,
then in that event the total Payments shall be reduced by the smallest amount (in no event to
exceed $25,000 in the aggregate) necessary to ensure that none of the Payments will be subject to
the Excise Tax. The decision as to which Payments shall be so reduced shall be made by the
Employee, unless allowing the decision to be made by the Employee will result in any income
inclusion pursuant to Code section 409A(a)(l)(A), in which case the Payments shall be reduced in
the chronological order in which they are payable to or on behalf of the Employee.

          (b) Subject to the provisions of paragraph 9(a) above and 9(c) below, all determinations
required to be made under this section 9, including whether and when a Gross-Up Payment is required
and the amount of such Gross-Up Payment and the assumptions to be utilized in arriving at such
determination, and whether Payments are to be reduced pursuant to the second sentence of paragraph
9(a) above, shall be made by Deloitte & Touche or such other certified public accounting firm as
may be designated by the Employee (the “Accounting Firm”) which shall provide detailed supporting
calculations both to BPI and the Employee within 15 business days of the receipt of notice from the
Employee that there has been a Payment, or such earlier time as is requested by BPI. In the event
that the Accounting Firm is serving as accountant or auditor for the individual, entity or group
effecting the “change in ownership or effective control” or “change in the ownership of a
substantial portion of assets” (within the

Page 15 of 26

 

meaning of Code section 280G(b)(2)(A)) that gives rise to the Excise Tax, or in the
event that the Accounting Firm for any reason is unable or unwilling to make the determinations
required hereunder, the Employee shall appoint another nationally recognized accounting firm to
make the determinations required hereunder (which accounting firm shall then be referred to as the
Accounting Firm hereunder). All fees and expenses of the Accounting Firm shall be borne solely by
the Company. Any Gross-Up Payment, as determined pursuant to this section 9, shall be paid by the
Company to the Employee within five days of the receipt of the Accounting Firm’s determination. Any
determination by the Accounting Firm shall be binding upon the Company and the Employee. As a
result of the uncertainty in the application of Section 4999 of the Code at the time of the initial
determination by the Accounting Firm hereunder, it is possible that Gross-Up Payments which will
not have been made by the Company should have been made (an “Underpayment”), consistent with the
calculations required to be made hereunder. In the event that BPI exhausts its remedies pursuant to
paragraph 9(c) and the Employee thereafter is required to make a payment of any Excise Tax, the
Accounting Firm shall determine the amount of the Underpayment that has occurred and any such
Underpayment, along with any penalty and interest imposed with respect to such Underpayment, shall
be promptly paid by the Company to or for the benefit of the Employee.

          (c) The Employee shall notify BPI in writing of any claim by the Internal Revenue
Service that, if successful, would require either the payment by the Company of the Gross-Up
Payment or the reduction of Payments pursuant to the second sentence of paragraph 9(a) above. Such
notification shall be given as soon as practicable but no later than ten business days after the
Employee is informed in writing of such claim and shall apprise BPI of the nature of such claim and
the date on which such claim is requested to be paid. The Employee shall not pay such claim prior
to the expiration of the 30-day period following the date on which she gives such notice to BPI (or
such shorter period ending on the date that any payment of taxes with respect to such claim is
due). If BPI notifies the Employee in writing prior to the expiration of such period that it
desires to contest such claim, the Employee shall:

               (i) give BPI any information reasonably requested by BPI relating to such claim,

               (ii) take such action in connection with contesting such claim as BPI shall reasonably
request in writing from time to time, including, without limitation, accepting legal representation
with respect to such claim by an attorney reasonably selected by BPI,

               (iii) cooperate with BPI in good faith in order effectively to contest such claim,
and

               (iv) permit BPI to participate in any proceedings relating to such claim;

Page 16 of 26

 

provided, however, that the Company shall bear and pay directly all costs and expenses
(including additional interest and penalties) incurred in connection with such contest and shall
indemnify and hold the Employee harmless, on an after-tax basis, for any Excise Tax or income tax
(including interest and penalties with respect thereto) imposed as a result of such representation
and payment of costs and expenses. Without limitation on the foregoing provisions of this paragraph
9(c), BPI shall control all proceedings taken in connection with such contest and, at its sole
option, may pursue or forgo any and all administrative appeals, proceedings, hearings and
conferences with the taxing authority in respect of such claim and may, at its sole option, either
direct the Employee to pay the tax claimed and sue for a refund or contest the claim in any
permissible manner, and the Employee agrees to prosecute such contest to a determination before any
administrative tribunal, in a court of initial jurisdiction and in one or more appellate courts, as
BPI shall determine, provided, however, that if BPI directs the Employee to pay such claim and sue
for a refund, the Company shall, if permissible under Section 402 of the Sarbanes-Oxley Act of
2002, advance the amount of such payment to the Employee, on an interest-free basis or, if such an
advance is not permissible thereunder, pay the amount of such payment to the Employee as additional
compensation, and shall indemnify and hold the Employee harmless, on an after-tax basis, from any
Excise Tax or income tax (including interest or penalties with respect thereto) imposed with
respect to such advance or additional compensation; and further provided that any extension of the
statute of limitations relating to payment of taxes for the taxable year of the Employee with
respect to which such contested amount is claimed to be due is limited solely to such contested
amount. Furthermore, BPI’s control of the contest shall be limited to issues with respect to which
a Gross-Up Payment would be payable hereunder and the Employee shall be entitled to settle or
contest, as the case may be, any other issue raised by the Internal Revenue Service or any other
taxing authority.

          (d) If, after the receipt by the Employee of an amount advanced or paid by the Company
pursuant to paragraph 9(a) or 9(c), the Employee becomes entitled to receive any refund with
respect to such claim, the Employee shall (subject to the Company’s complying with the requirements
of paragraph 9(c)) promptly pay to the Company the amount of such refund (together with any
interest paid or credited thereon after taxes applicable thereto). If, after the receipt by the
Employee of an amount advanced by the Company pursuant to paragraph 9(c), a determination is made
that the Employee shall not be entitled to any refund with respect to such claim and BPI does not
notify the Employee in writing of its intent to contest such denial of refund prior to the
expiration of 30 days after such determination, then such advance shall be forgiven and shall not
be required to be repaid and the amount of such advance shall offset, to the extent thereof, the
amount of Gross-Up Payment required to be paid.

     10. Certain Enforcement Matters

          (a) If, after a Change in Control or Potential Change in Control, a dispute arises (i)
with respect to this Agreement or the breach thereof, or (ii) with respect to the Employee’s or the
Company’s or BPI’s rights or obligations under this Agreement, including but not limited to any
such dispute between the Employee and BPI, the

Page 17 of 26

 

Company shall pay or reimburse the Employee for all reasonable costs and expenses (including
court costs, arbitrators’ fees and reasonable attorneys’ fees and disbursements) the Employee
incurs in connection with such dispute, including without limitation costs and expenses he incurs
to obtain payment or otherwise enforce his rights under this Agreement, or to obtain payment of
costs and expenses due under this paragraph 10(a). In addition, the Company shall pay the Employee
such additional amount (a “Gross Up”) as will be sufficient, after the Employee pays his tax
liability with respect to the Gross Up from the Gross Up, to pay all of his federal, state and
local tax liability with respect to any costs and expenses that are paid by the Company pursuant to
this paragraph 10(a). The Company shall promptly pay or reimburse the Employee for all such costs
and expenses as he incurs them, upon presentation of reasonable documentation of such costs and
expenses, and shall promptly pay the related Gross Up as and when it pays or reimburses costs and
expenses. The Employee shall not be obligated to repay any such costs, expenses or Gross Up unless
it is finally determined by the trier of fact in a non-appealable judicial or arbitral decision or
ruling (as applicable) that the Employee’s principal positions with respect to the principal
matter(s) in dispute were unreasonable and pursued in bad faith.

          (b) Any payments to which the Employee may be entitled under this Agreement, including,
without limitation, under section 5, 8, 9 or 10 hereof, shall be made forthwith on the applicable
date(s) for payment specified in this Agreement. If for any reason the amount of any payment due to
the Employee cannot be finally determined on that date, such amount shall be estimated on a good
faith basis by the Company and the estimated amount shall be paid no later than within 10 days
after such date. As soon as practicable thereafter, the final determination of the amount due shall
be made and any adjustment requiring a payment to or from the Employee shall be made as promptly as
practicable.

          (c) Any controversy or claim arising, after a Change in Control or Potential Change in
Control, out of or related to this Agreement or the breach thereof, shall be settled by binding
arbitration in the City of New York, in accordance with the employment dispute arbitration rules of
the American Arbitration Association then in effect, and the arbitrator’s decision shall be binding
and final and judgment upon the award rendered may be entered in any court having jurisdiction
thereof, except that the Employee may elect to have any such controversy or claim settled by
judicial determination in lieu of arbitration by bringing a court action, if he is the plaintiff
or, if he is not the plaintiff, demanding such judicial determination within the time to answer any
complaint in any arbitration action that may be commenced.

     11. Change in Control

          (a) The term “Change in Control” as used in this Agreement means a change of control of
BPI of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of
Regulation 14A promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), whether or not BPI is then subject to such reporting requirement; provided that, whether or
not any of the following

Page 18 of 26

 

events would constitute a change of control of such a nature, a Change in Control shall be
deemed to occur for purposes of this Agreement if and when any of the following events occur:

          (i) any “person” (as such term is used in Sections 13(d) and 14(d)(2) of the Exchange
Act) (a “Person”), other than—

     (A) BPI,

     (B) a Subsidiary,

     (C) a trustee or other fiduciary holding securities under an employee
benefit plan of BPI or a Subsidiary, or

     (D) an underwriter engaged in a distribution of BPI stock to
the public with BPI’s written consent,

becomes the beneficial owner (as defined in Rule 13d-3 under the Exchange Act), directly or
indirectly, of Voting Securities that represent more than thirty percent (30%) of the combined
voting power of the then outstanding Voting Securities. However, if the Person in question is an
institutional investor whose investment in Voting Securities is purely passive when such Person
becomes such a more than thirty percent beneficial owner of Voting Securities, then such event
(i.e., such Person’s becoming a more than thirty percent beneficial owner of Voting Securities)
shall not be deemed to constitute a Change in Control under this
subparagraph 11(a)(i) for so long
as (and only for so long as) such Person’s investment in Voting Securities remains purely passive;
or

          (ii) the stockholders of BPI approve a merger, consolidation, recapitalization or
reorganization of BPI or a Subsidiary, reverse split of any class of Voting Securities, or an
acquisition of securities or assets by the Company or a Subsidiary, or consummation of any such
transaction if stockholder approval is not obtained, other than (A) any such transaction in which
the holders of outstanding Voting Securities immediately prior to the transaction receive, with
respect to such Voting Securities (or, in the case of a transaction in which BPI is the surviving
corporation or a transaction involving a Subsidiary, retain), voting securities of the surviving or
transferee entity representing more than fifty percent (50%) of the total voting power outstanding
immediately after such transaction, with the voting power of each such continuing holder relative
to other such continuing holders not substantially altered in the transaction, or (B) any such
transaction which would result in BPI or a Related Party beneficially owning more than 50 percent
of the voting securities of the surviving entity outstanding immediately after such transaction; or

          (iii) the stockholders of BPI approve a plan of complete liquidation of BPI or an
agreement for the sale or disposition by BPI of all or substantially
all of BPP’s assets other than
any such transaction which would result in a

Page 19 of 26

 

Related Party owning or acquiring more than 50 percent of the assets owned by BPI
immediately prior to the transaction; or

               (iv) the persons who were members of the BPI Board
immediately before a tender or exchange offer for shares of Common Stock of BPI by any person other
than BPI or a Related Party, or before a merger or consolidation of BPI or a Subsidiary, or
contested election of the BPI Board, or before any combination of such transactions, cease to
constitute a majority of the BPI Board as a result of such transaction or transactions.

          (b) For purposes of this Agreement, including paragraph 11(a) above:

               (i) the term “Related Party” shall mean (A) a Subsidiary, (B) an employee or group of
employees of BPI or any Subsidiary, (C) a trustee or other fiduciary holding securities under an
employee benefit plan of BPI or any Subsidiary, or (D) a corporation or other form of business
entity owned directly or indirectly by the stockholders of BPI in substantially the same proportion
as their ownership of Voting Securities;

               (ii) the term “Subsidiary” means a corporation or other form of
business association of which shares (or other ownership interests) having more than 50% of the
voting power are, or in the future become, owned or controlled, directly or indirectly, by BPI; and

               (iii) the term “Voting Securities” shall mean any securities of BPI which carry the right
to vote generally in the election of directors.

          (c) For purposes of this Agreement, a “Potential Change in Control” means that (i) BPI or a
Subsidiary enters into an agreement, the consummation of which would result in the occurrence of a
Change of Control; or (ii) the BPI Board adopts a resolution to the effect that, for purposes of
this Agreement, a potential change in control has occurred.

          (d) A “Change in Control” as such term is used in this Agreement shall also be deemed to occur
if either Barr Laboratories. Inc. (a Delaware corporation), or a Permitted Assignee to which BPI
assigns any of its rights or obligations under this Agreement in accordance with paragraph 13(d)
below, ceases to be an Affiliate.

     12. Severability; Survival

          (a) In the event that any provision of this Agreement shall be

determined to be invalid or unenforceable for any reason, the remaining provisions of this
Agreement not so invalid or unenforceable shall be unaffected thereby and shall remain in full
force and effect to the fullest extent permitted by law; and

Page 20 of 26

 

          (b) Any provision of this Agreement which may for any reason be invalid or
unenforceable in any jurisdiction shall remain in effect and be enforceable in any jurisdiction in
which such provision shall be valid and enforceable.

          (c) The provisions of sections 6, 7, 8, 9 and 10 and paragraph 5(e) of this Agreement, and any
other provision of this Agreement which is intended to apply, operate or have effect after the
expiration or termination of the term of this Agreement, or at a time when the term of this
Agreement may have expired or terminated, shall survive the expiration or termination of the term
of this Agreement for any reason.

      13. General
Provisions

          (a) No right or interest to or in any payments to be made under this Agreement shall be
subject to anticipation, alienation, sale, assignment, encumbrance, pledge, charge or hypothecation
or to execution, attachment, levy or similar process, or assignment by operation of law. All
payments to be made by the Company hereunder shall be subject to the withholding of such amounts as
the Company may determine it is required to withhold under the laws or regulations of any
governmental authority, whether foreign, federal, state or local.

          (b) To the extent that the Employee acquires a right to receive payments from the Company
under this Agreement, such right shall be no greater than the right of an unsecured general
creditor of the Company. All payments to be made hereunder shall be paid from the general funds of
the Company and no special or separate fund shall be established and no segregation of assets shall
be made to assure payment of any amount hereunder.

          (c) This Agreement shall be governed by and construed and enforced in accordance with the laws
of the State of New York, without giving effect to the principles of conflicts of laws of that
State.

          (d) This Agreement shall be binding upon and inure to the benefit of BPI, its successors and
permitted assigns, and the Employee, his heirs, devisees, distributees and legal representatives.
BPI may assign any or all of its rights and obligations under this Agreement to any Subsidiary or
Affiliate (collectively, “Permitted Assignees”), and, if any rights or obligations are assigned
pursuant to this sentence, the assignee may thereafter assign any or all of such rights and
obligations to any other Permitted Assignee; provided that (i) the Employee’s title, authority,
duties and responsibilities, reporting relationships and office location immediately before any
such assignment are not changed in any respect materially detrimental to the Employee in connection
with such assignment without the written consent of the Employee (given in a personal capacity
rather than a representative capacity), (ii) no such assignment shall relieve BPI of any past,
present or future payment or benefit obligation hereunder without the express written consent of
the Employee (also given in a personal capacity), and (iii) no assignment may be made after a
Change in Control or Potential Change in Control without the express written consent of the
Employee (also given in a personal capacity).

Page 21 of 26

 

In the
event of an assignment in accordance with this paragraph, (A) the term “Company”
as used in this Agreement shall be deemed to refer, with respect to the period commencing on the
effective date of such assignment, to the Permitted Assignee to which such rights or obligations
are assigned and, with respect to any obligations that are assigned hereunder, to BPI and such
Permitted Assignee jointly and severally, and (B) the term
“BPI” as used in this Agreement shall
continue to refer exclusively to BPI as defined on page 1 of this Agreement and its successors. The
foregoing provisions of this paragraph are intended to enable BPI to assign its right to employ the
Employee under this Agreement to an Affiliate but only if (I) such assignment does not change to
the material detriment of the Employee his title, authority, duties, responsibilities, reporting
relationships, office location or compensation, (II) such assignment does not result in any
Affiliate replacing BPI as an obligor under this Agreement, and (III) the Employee expressly
consents in writing to any assignment that is to occur after a Change in Control or Potential
Change in Control. For the avoidance of doubt, as an example, the Employee would not have Good
Reason under subparagraph 5(d)(ii), (iii) or (iv) above if as a result of an assignment in
accordance with this paragraph the Employee were to cease to be employed by BPI as President and
Chief Operating Officer of DPI, he were employed by the Permitted Assignee as President and Chief
Operating Officer of DPI, and his authority, duties, responsibilities, reporting relationships and
office location were to continue to be those described in subparagraphs 3(a) and 3(b) above as in
effect immediately before the assignment. The term “BPI” as used in this Agreement shall include
any successor to BPI by merger or operation of law, and the term
“Company” shall include any
successor to the relevant Permitted Assignee. The rights and obligations of the Employee hereunder
are personal to the Employee and may not be assigned by the Employee; provided that nothing herein
shall prevent the Employee from assigning the right to any amount that may be payable under this
Agreement after the death of the Employee by will or the laws of descent and distribution or to a
beneficiary designated by the Employee with the written consent of BPI.

          (e) Any notice or other communication to BPI pursuant to any provision of this Agreement shall
be given in writing and will be deemed to have been delivered:

               (i) when delivered in person to the General Counsel of BPI; or

               (ii) one week after it is deposited in the United States certified or registered mail,
postage prepaid, addressed to the General Counsel of BPI at 400 Chestnut Ridge Road, Woodcliff
Lake, New Jersey 07677 or at such other address of which BPI may from time to time give the
Employee written notice in accordance with paragraph 13(f) below.

          (f) Any notice or other communication to the Employee pursuant to any provision of the
Agreement shall be given in writing and will be deemed to have been delivered:

               (i) when delivered to the Employee in person, or

Page 22 of 26

 

               (ii) one week after it is deposited in the United States certified or registered
mail, postage prepaid, addressed to the Employee at his address as it appears on the records of the
Company or at such other address of which the Employee may from time to time give BPI written
notice in accordance with paragraph 13(e) above.

          (g) No provision of this Agreement may be amended, modified or waived unless such
amendment, modification or waiver shall be agreed to in a writing signed by the Employee and an
authorized officer of BPI.

          (h) This instrument contains the entire agreement of the parties relating to the subject
matter of this Agreement and supersedes and replaces all prior agreements and understandings with
respect to such subject matter, and the parties have made no agreements, representations or
warranties relating to the subject matter of this Agreement which are not set forth herein.

          (i) BPI and DPI agree to amend this Agreement on or before December 31, 2005 (or such
later date, if any, to which the December 31, 2005 date referred to in Q&A-19 of IRS Notice 2005-1
is extended) in the respects that BPI reasonably determines to be necessary or advisable to enable
the Employee to receive all amounts and benefits payable under this Agreement at the times herein
provided (or as close thereto as is practicable and permissible) without inclusion of any amounts
or benefits in the Employee’s income pursuant to Section 409A(a)(l)(A) of the Code. BPI and DPI
also agree to use commercially reasonable efforts to administer this Agreement, and operate any
deferred compensation plans in which the Employee participates from time to time that are
aggregated with this Agreement for purposes of Section 409A of the Code (e.g., account balance
plans, nonaccount balance plans, and plans that are neither account balance nor nonaccount balance
plans), in good faith compliance with Section 409 A of the Code to the extent necessary to avoid
inclusion of any amounts or benefits payable hereunder in the Employee’s income pursuant to Section
409A(a)(l)(A) of the Code.

 14. Representations
and Warranties of the Employee. The Employee represents and
warrants that:

          (a) his negotiation, execution and performance of this Agreement, and his compliance with the
terms and conditions of this Agreement, does not and will not conflict with or result in the breach
by him of any agreement to which he is a party or by which he may be bound,

          (b) in connection with the negotiation of this Agreement he has not violated, and in
connection with his employment with the Company he will not violate, any non-solicitation covenant,
non-competition covenant or other similar covenant or agreement by which he is or may be bound, and

Page 23 of 26

 

               (c) in connection with the negotiation of this Agreement or his
employment with the Company he has not used or disclosed, and will not use or disclose, any
confidential or proprietary information he may have obtained in connection with employment with any
prior employer.

[This space left blank intentionally]

Page 24 of 26

 

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date
first above written.

	 	 	 
	 

	 	BARR PHARMACEUTICALS, INC.
	 
	 	 
	 

	 	By: /s/ [ILLEGIBLE]

 

	 
	 	 
	[SEAL]
	 	 
	Attest:
	 	 
	 
	 	 
	/s/ [ILLEGIBLE]

 

	 	 
	Secretary
	 	 
	 

	 	DURAMED PHARMACEUTICALS, INC.
	 
	 	 
	 

	 	By: /s/ [ILLEGIBLE]

 

	 
	 	 
	[SEAL]
	 	 
	Attest:
	 	 
	 
	/s/ [ILLEGIBLE]

 

	 	 
	Secretary
	 	 
	 
	 	 
	 

	 	/s/ [ILLEGIBLE]

 

	 

	 	Employee

Page 25 of 26

 

Appendix 

Examples Illustrating Intended Operation of Extension Provisions of Paragraph 2

Example
1:

Facts: BPI and its Affiliates do not give the Employee, and the Employee does not
give BPI, written notice of non-extension before the date that is six months before
the third anniversary of the Commencement Date.

Result: Effective as of the date that is six months before the third anniversary of
the Commencement Date, the term of the Agreement is extended 12 months, so that it
will expire on the fourth anniversary of the Commencement Date unless further
extended in accordance with the provisions of Paragraph 2 of the Agreement.

Example
2:

Facts: BPI or an Affiliate gives the Employee, or the Employee gives BPI,
written notice of non-extension before the date that is six months before the
third anniversary of the Commencement Date.

Result: The term of the Agreement is not extended, and expires on the third
anniversary of the Commencement Date.

Example
3:

Facts: BPI and its Affiliates do not give the Employee, and the Employee does not
give BPI, written notice of non-extension before the date that is six months before
the fourth anniversary of the Commencement Date.

Result: Effective as of the date that is six months before the fourth anniversary
of the Commencement Date, the term of the Agreement as extended in accordance with
Example 1 above is further extended 12 months, so that it will expire on the fifth
anniversary of the Commencement Date unless further extended in accordance with the
provisions of Paragraph 2 of the Agreement.

Example
4:

Facts: BPI or an Affiliate gives the Employee, or the Employee gives BPI, written
notice of non-extension on or after the date that is six months before the fourth
anniversary of the Commencement Date and before the date that is six months before
the fifth anniversary of the Commencement Date.

Result: The term of the Agreement as extended is not further extended, and expires
on the fifth anniversary of the Commencement Date.

Page 26 of 26<PAGE>

                                                                    EXHIBIT 4(M)

================================================================================

                               PULTE HOMES, INC.,
                                     Issuer

                                       to

                              __________________,
                                     Trustee

                                   ----------

                                    INDENTURE

                                   ----------

                             Dated as of __________

                          Subordinated Debt Securities

================================================================================

<PAGE>

                         Reconciliation and tie between
             Trust Indenture Act of 1939 (the "Trust Indenture Act")
                                  and Indenture

<TABLE>
<CAPTION>
Trust Indenture                                                        Indenture
Act Section                                                             Section
---------------                                                        ---------
<S>                                                                    <C>
Section 310(a)(1)...................................................         607
           (a)(2)...................................................         607
           (b)......................................................         608
Section 312(a)......................................................         701
           (b)......................................................         702
           (c)......................................................         702
Section 313(a)......................................................         703
           (b)(2)...................................................         703
           (c)......................................................         703
           (d)......................................................         703
Section 314(a)......................................................         704
           (c)(1)...................................................         102
           (c)(2)...................................................         102
           (e)......................................................         102
           (f)......................................................         102
Section 316(a)(last sentence).......................................         101
           (a)(1)(A)................................................    502, 512
           (a)(1)(B)................................................         513
           (b)......................................................         508
Section 317(a)(1)...................................................         503
           (a)(2)...................................................         504
           (b)......................................................        1003
Section 318(a)......................................................         108
</TABLE>

----------
Note: This reconciliation and tie shall not, for any purpose, be deemed to be
     part of the Indenture.

                                       i

<PAGE>

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                            Page
                                                                            ----
<S>                                                                         <C>
                                  ARTICLE ONE

             DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

Section 101.  Definitions................................................     2
Section 102.  Compliance Certificates and Opinions.......................    12
Section 103.  Form of Documents Delivered to Trustee.....................    12
Section 104.  Acts of Holders............................................    12
Section 105.  Notices, etc. to Trustee and Company.......................    14
Section 106.  Notice to Holders of Securities; Waiver....................    14
Section 107.  Language of Notices........................................    15
Section 108.  Conflict with Trust Indenture Act..........................    16
Section 109.  Effect of Headings and Table of Contents...................    16
Section 110.  Successors and Assigns.....................................    16
Section 111.  Separability Clause........................................    16
Section 112.  Benefits of Indenture......................................    16
Section 113.  Governing Law..............................................    16
Section 114.  Legal Holidays.............................................    16
Section 115.  Counterparts...............................................    17
Section 116.  Judgment Currency..........................................    17
Section 117.  Extension of Payment Dates.................................    17
Section 118.  Immunity of Stockholders, Directors, Officers and Agents
              of the Company.............................................    17

                                   ARTICLE TWO

                                SECURITIES FORMS

Section 201.  Forms Generally............................................    18
Section 202.  Form of Trustee's Certificate of Authentication............    18
Section 203.  Securities in Global Form..................................    19

                                  ARTICLE THREE

                                 THE SECURITIES

Section 301.  Amount Unlimited; Issuable in Series.......................    20
Section 302.  Currency; Denominations....................................    24
Section 303.  Execution, Authentication, Delivery and Dating.............    25
Section 304.  Temporary Securities.......................................    26
</TABLE>

                                       i

<PAGE>

<TABLE>
<S>                                                                          <C>
Section 305.  Registration, Transfer and Exchange........................    27
Section 306.  Mutilated, Destroyed, Lost and Stolen Securities...........    31
Section 307.  Payment of Interest and Certain Additional Amounts;
              Rights to Interest and Certain Additional Amounts
              Preserved..................................................    32
Section 308.  Persons Deemed Owners......................................    33
Section 309.  Cancellation...............................................    34
Section 310.  Computation of Interest....................................    34

                                  ARTICLE FOUR

                     SATISFACTION AND DISCHARGE OF INDENTURE

Section 401.  Satisfaction and Discharge.................................    35
Section 402.  Defeasance and Covenant Defeasance.........................    36
Section 403.  Application of Trust Money.................................    41
Section 404.  Reinstatement..............................................    41
Section 405.  Effect on Subordination Provisions.........................    42

                                  ARTICLE FIVE

                                    REMEDIES

Section 501.  Events of Default..........................................    42
Section 502.  Acceleration of Maturity; Rescission and Annulment.........    44
Section 503.  Collection of Indebtedness and Suits for Enforcement
              by Trustee.................................................    46
Section 504.  Trustee May File Proofs of Claim...........................    47
Section 505.  Trustee May Enforce Claims without Possession of
              Securities or Coupons......................................    48
Section 506.  Application of Money Collected.............................    48
Section 507.  Limitations on Suits.......................................    48
Section 508.  Unconditional Right of Holders to Receive Principal and
              any Premium, Interest and Additional Amounts...............    49
Section 509.  Restoration of Rights and Remedies.........................    49
Section 510.  Rights and Remedies Cumulative.............................    50
Section 511.  Delay or Omission Not Waiver...............................    50
Section 512.  Control by Holders of Securities...........................    50
Section 513.  Waiver of Past Defaults....................................    50
Section 514.  Waiver of Usury, Stay or Extension Laws....................    51
Section 515.  Undertaking for Costs......................................    51

                                   ARTICLE SIX

                                   THE TRUSTEE

Section 601.  Certain Rights of Trustee..................................    52
</TABLE>

                                       ii

<PAGE>

<TABLE>
<S>                                                                          <C>
Section 602.  Notice of Defaults.........................................    53
Section 603.  Not Responsible for Recitals or Issuance of Securities.....    53
Section 604.  May Hold Securities........................................    53
Section 605.  Money Held in Trust........................................    54
Section 606.  Compensation and Reimbursement.............................    54
Section 607.  Corporate Trustee Required; Eligibility....................    55
Section 608.  Resignation and Removal; Appointment of Successor..........    55
Section 609.  Acceptance of Appointment by Successor.....................    56
Section 610.  Merger, Conversion, Consolidation or Succession to
              Business...................................................    58
Section 611.  Appointment of Authenticating Agent........................    58

                                  ARTICLE SEVEN

                HOLDERS LISTS AND REPORTS BY TRUSTEE AND COMPANY

Section 701.  Company to Furnish Trustee Names and Addresses of
              Holders....................................................    60
Section 702.  Preservation of Information; Communications to Holders.....    60
Section 703.  Reports by Trustee.........................................    61
Section 704.  Reports by Company.........................................    61

                                  ARTICLE EIGHT

                         CONSOLIDATION, MERGER AND SALES

Section 801.  Company May Consolidate, Etc., Only on Certain Terms.......    62
Section 802.  Successor Person Substituted for Company...................    63

                                  ARTICLE NINE

                             SUPPLEMENTAL INDENTURES

Section 901.  Supplemental Indentures without Consent of Holders.........    63
Section 902.  Supplemental Indentures with Consent of Holders............    65
Section 903.  Execution of Supplemental Indentures.......................    66
Section 904.  Effect of Supplemental Indentures..........................    66
Section 905.  Reference in Securities to Supplemental Indentures.........    67
Section 906.  Effect on Senior Indebtedness..............................    67
Section 907.  Conformity with Trust Indenture Act........................    67

                                   ARTICLE TEN

                                    COVENANTS

Section 1001. Payment of Principal, Premium, Interest and Additional
              Amounts....................................................    67
</TABLE>

                                      iii

<PAGE>

<TABLE>
<S>                                                                          <C>
Section 1002. Maintenance of Office or Agency............................    67
Section 1003. Money for Securities Payments to Be Held in Trust..........    69
Section 1004. Additional Amounts.........................................    70
Section 1005. Corporate Existence........................................    71
Section 1006. Maintenance of Properties..................................    71
Section 1007. Payment of Taxes and Other Claims..........................    72
Section 1008. Waiver of Certain Covenants................................    72
Section 1009. Company Statement as to Compliance.........................    72

                                 ARTICLE ELEVEN

                            REDEMPTION OF SECURITIES

Section 1101. Applicability of Article...................................    72
Section 1102. Election to Redeem; Notice to Trustee......................    73
Section 1103. Selection by Trustee of Securities to be Redeemed..........    73
Section 1104. Notice of Redemption.......................................    74
Section 1105. Deposit of Redemption Price................................    75
Section 1106. Securities Payable on Redemption Date......................    76
Section 1107. Securities Redeemed in Part................................    77

                                 ARTICLE TWELVE

                                  SINKING FUNDS

Section 1201. Applicability of Article...................................    77
Section 1202. Satisfaction of Sinking Fund Payments with Securities......    77
Section 1203. Redemption of Securities for Sinking Fund..................    78

                                ARTICLE THIRTEEN

                       REPAYMENT AT THE OPTION OF HOLDERS

Section 1301. Applicability of Article...................................    78

                                ARTICLE FOURTEEN

                        SECURITIES IN FOREIGN CURRENCIES

Section 1401. Applicability of Article...................................    79
</TABLE>

                                       iv

<PAGE>

<TABLE>
<S>                                                                          <C>
                                 ARTICLE FIFTEEN

                        MEETINGS OF HOLDERS OF SECURITIES

Section 1501. Purposes for Which Meetings May Be Called..................    79
Section 1502. Call, Notice and Place of Meetings.........................    80
Section 1503. Persons Entitled to Vote at Meetings.......................    80
Section 1504. Quorum; Action.............................................    80
Section 1505. Determination of Voting Rights; Conduct and Adjournment
              of Meetings................................................    81
Section 1506. Counting Votes and Recording Action of Meetings............    82

                                 ARTICLE SIXTEEN

                           SUBORDINATION OF SECURITIES

Section 1601. Agreement to Subordinate...................................    83
</TABLE>

                                       v
<PAGE>

     INDENTURE, dated as of ______, ______ (the "Indenture"), between Pulte
Homes, Inc., a corporation duly organized and existing under the laws of the
State of Michigan (hereinafter called the "Company"), having its principal
executive office located at 100 Bloomfield Hills Parkway, Suite 300, Bloomfield
Hills, Michigan 48304, and ______, a banking association duly organized and
existing under the laws of ______ (hereinafter called the "Trustee").

                                    RECITALS

     The Company has duly authorized the execution and delivery of this
Indenture to provide for the issuance from time to time of its subordinated
unsecured debentures, notes or other evidences of indebtedness (hereinafter
called the "Securities"), unlimited as to principal amount, to bear such rates
of interest, to mature at such time or times, to be issued in one or more
series, to have such relative rankings in priority of payment, and to have such
other provisions as shall be fixed as hereinafter provided.

     The Company has duly authorized the execution and delivery of this
Indenture. All things necessary to make this Indenture a valid agreement of the
Company, in accordance with its terms, have been done.

     This Indenture is subject to the provisions of the Trust Indenture Act of
1939, as amended, and the rules and regulations of the Securities and Exchange
Commission promulgated thereunder that are required to be part of this Indenture
and, to the extent applicable, shall be governed by such provisions.

     NOW, THEREFORE, THIS INDENTURE WITNESSETH:

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

                                       1

<PAGE>

                                  ARTICLE ONE.

             DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

     Section 101. Definitions.

     Except as otherwise expressly provided in or pursuant to this Indenture or
unless the context otherwise requires, for all purposes of this Indenture:

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

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

          (3) all accounting terms not otherwise defined herein have the
     meanings assigned to them in accordance with GAAP;

          (4) the words "herein", "hereof", "hereto" 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;

          (5) the word "or" is always used inclusively (for example, the phrase
     "A or B" means "A or B or both", not "either A or B but not both");

          (6) provisions apply to successive events and transactions;

          (7) the term "merger" includes a statutory share exchange and the
     terms "merge" and "merged" have correlative meanings;

          (8) the masculine gender includes the feminine and the neuter; and

          (9) references to agreements and other instruments include subsequent
     amendments and supplements thereto.

     Certain terms used principally in certain Articles hereof are defined in
those Articles.

     "Act", when used with respect to any Holders, has the meaning specified in
Section 104.

     "Additional Amounts" means any additional amounts which are required by
this Indenture or by any Security, or by the terms of any Security established
pursuant to Section 301, under circumstances specified herein or therein, to be
paid by the Company in respect of certain taxes, duties, levies, imposts,
assessments or other governmental charges imposed on Holders specified herein or
therein.

     "Affiliate" means, with respect to any specified Person, any other Person
directly or indirectly controlling or controlled by or under direct or indirect
common control with such

                                       2

<PAGE>

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

     "Authenticating Agent" means any Person authorized by the Trustee pursuant
to Section 611 to act on behalf of the Trustee to authenticate Securities of one
or more series.

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

     "Bearer Security" means any Security in the form established pursuant to
Section 201 which is payable to bearer.

     "Board of Directors" means the board of directors of the Company or any
committee of that board duly authorized to act generally or in any particular
respect for the Company hereunder. The term "board of directors" means the board
of directors of the Company and does not include committees of the board of
directors.

     "Board Resolution" means a copy of one or more resolutions, 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, delivered to the Trustee.

     "Business Day" means, unless otherwise specified with respect to the
Securities of any series pursuant to Section 301, any day other than a Saturday,
Sunday or other day on which banking institutions in The City of New York are
authorized or obligated by law, regulation or executive order to close; provided
that such term shall mean, when used with respect to any payment of principal
of, or premium or interest, if any, on, or Additional Amounts with respect to,
the Securities of any series to be made at any Place of Payment for such
Securities, unless otherwise specified pursuant to Section 301 with respect to
such Securities, any day other than a Saturday, Sunday or other day on which
banking institutions in such Place of Payment are authorized or obligated by
law, regulation or executive order to close.

     "Capitalized Lease Obligation" means any obligation under any capital lease
or real or personal property that, in accordance with GAAP, has been recorded as
a capitalized lease obligation.

     "Capital Stock" means with respect to any Person, any and all shares,
interests, participations, rights or other equivalents (however designated) in
the equity of such Person (including, without limitation, (i) with respect to a
corporation, common stock, preferred stock and any other capital stock, (ii)
with respect to a partnership, partnership interests (whether

                                       3

<PAGE>

general or limited), and (iii) with respect to a limited liability company,
limited liability company interests).

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

     "Common Stock" includes any stock of any class of the Company which has no
preference in respect of dividends or of amounts payable in the event of any
voluntary or involuntary liquidation, dissolution or winding up of the Company
and which is not subject to redemption by the Company.

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

     "Company Request" and "Company Order" mean, respectively, a written request
or order, as the case may be, signed in the name of the Company by the Chairman,
the Chief Executive Officer, the President or a Vice President, and by the
Treasurer, an Assistant Treasurer, the Secretary or an Assistant Secretary, of
the Company, and delivered to the Trustee.

     "Conversion Event" means the cessation of use of (i) a Foreign Currency
both by the government of the country or the confederation which issued such
Foreign Currency and for the settlement of transactions by a central bank or
other public institutions of or within the international banking community or
(ii) any currency unit or composite currency for the purposes for which it was
established.

     "Corporate Trust Office" means [either (A)] the principal corporate trust
office of the Trustee at which at any particular time its corporate trust
business shall be administered, which office at the date of this Indenture is
located at ______, Attention: ______ or (B) for purposes of Section 1002,
"Corporate Trust Office" means the principal corporate trust office of the
Trustee in the Borough of Manhattan, The City of New York at which at any
particular time its corporate trust business shall be administered in The City
of New York, which office at the date of this Indenture is located at ______,
Attention: ______.

     "Corporation" includes corporations, partnerships, associations, limited
liability companies and other companies, and business trusts. The term
"corporation" means a corporation and does not include partnerships,
associations, limited liability companies or other companies or business trusts.

     "Coupon" means any interest coupon appertaining to a Bearer Security.

     "Currency", with respect to any payment, deposit or other transfer in
respect of the principal of or any premium or interest on or any Additional
Amounts with respect to any Security, means Dollars or the Foreign Currency, as
the case may be, in which such payment, deposit or other transfer is required to
be made by or pursuant to the terms hereof or such

                                       4

<PAGE>

Security and, with respect to any other payment, deposit or transfer pursuant to
or contemplated by the terms hereof or such Security, means Dollars.

     "CUSIP number" means the alphanumeric designation assigned to a Security by
Standard & Poor's CUSIP Service Bureau.

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

     "Depository" means, with respect to any Security issuable or issued in the
form of one or more global Securities, the Person designated as depository by
the Company in or pursuant to this Indenture, and, unless otherwise provided
with respect to any Security, any successor to such Person. If at any time there
is more than one such Person, "Depository" shall mean, with respect to any
Securities, the depository which has been appointed with respect to such
Securities.

     "Dollars" or "$" means a dollar or other equivalent unit of legal tender
for payment of public or private debts in the United States of America.

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

     "Exchange Act" means the Securities Exchange Act of 1934, as amended, or
any successor thereto, in each case as amended from time to time.

     "Foreign Currency" means any currency, currency unit or composite currency
issued by the government of one or more countries other than the United States
of America or by any recognized confederation or association of such government.

     "GAAP" and "generally accepted accounting principles" mean, unless
otherwise specified with respect to any series of Securities pursuant to Section
301, such accounting principles as are generally accepted in the United States
of America as of the date or time of any computation required hereunder.

     "Government Obligations" means securities which are (i) direct obligations
of the United States of America or the other government or governments in the
confederation which issued the Foreign Currency in which the principal of or any
premium or interest on the relevant Security or any Additional Amounts in
respect thereof shall be payable, in each case where the payment or payments
thereunder are supported by the full faith and credit of such government or
governments or (ii) obligations of a Person controlled or supervised by and
acting as an agency or instrumentality of the United States of America or such
other government or governments, in each case where the timely payment or
payments thereunder are unconditionally guaranteed as a full faith and credit
obligation by the United States of America or such other government or
governments, and which, in the case of (i) or (ii), are not callable or
redeemable at the option of the issuer or issuers thereof, and shall also
include a depository receipt issued by a bank or trust company as custodian with
respect to any such Government Obligation or a specific payment of interest on
or principal of or other amount with respect to any such Government Obligation
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
make any deduction from the amount payable to the holder of such depository
receipt from any amount received by the custodian in

                                       5

<PAGE>

respect of the Government Obligation or the specific payment of interest on or
principal of or other amount with respect to the Government Obligation evidenced
by such depository receipt.

     "Holder", in the case of any Registered Security, means the Person in whose
name such Security is registered in the Security Register and, in the case of
any Bearer Security, means the bearer thereof and, in the case of any Coupon,
means the bearer thereof.

     "Indebtedness" means (i) any liability of any Person (A) for borrowed
money, or (B) evidenced by a bond, note, debenture or similar instrument
(including a purchase money obligation) given in connection with the acquisition
of any businesses, properties or assets of any kind (other than a trade payable
or a current liability arising in the ordinary course of business), or (C) for
the payment of money relating to a Capitalized Lease Obligation or (D) for all
Redeemable Capital Stock valued at the greater of its voluntary or involuntary
liquidation preference plus accrued and unpaid dividends; (ii) any liability of
others described in the preceding clause (i) that such Person has guaranteed or
that is otherwise its legal liability; (iii) all Indebtedness referred to in
(but not excluded from) clauses (i) and (ii) above of other Persons and all
dividends of other Persons, the payment of which is secured by (or for which the
holder of such Indebtedness has an existing right, contingent or otherwise, to
be secured by) any Security Interest upon or in property (including, without
limitation, accounts and contract rights) owned by such Person, even though such
Person has not assumed or become liable for the payment of such Indebtedness;
and (iv) any amendment, supplement, modification, deferral, renewal, extension
or refunding or any liability of the types referred to in clauses (i), (ii) and
(iii) above.

     "Indenture" means this instrument as originally executed or as it may from
time to time be supplemented or amended by one or more indentures supplemental
hereto entered into pursuant to the applicable provisions hereof and, with
respect to any Security, by the terms and provisions of such Security and any
Coupon appertaining thereto established pursuant to Section 301 (as such terms
and provisions may be amended pursuant to the applicable provisions hereof),
provided, however, that, if at any time more than one Person is acting as
Trustee under this instrument, "Indenture" shall mean, with respect to any one
or more series of Securities for which such Person is Trustee, this instrument
as originally executed or as it may from time to time be supplemented or amended
by one or more indentures supplemental hereto entered into pursuant to the
applicable provisions hereof and shall include the terms of those particular
series of Securities for which such Person is Trustee established pursuant to
Section 301, exclusive, however, of any provisions or terms which relate solely
to other series of Securities for which such Person is not Trustee, regardless
of when such terms or provisions were adopted.

     "Indexed Security" means a Security the terms of which provide that the
principal amount thereof payable at Stated Maturity may be more or less than the
principal face amount thereof at original issuance.

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

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

                                       6

<PAGE>

     "Judgment Currency" has the meaning specified in Section 116.

     "Maturity", with respect to any Security, means the date on which the
principal of such Security or an installment of principal becomes due and
payable as provided in or pursuant to this Indenture or such Security, whether
at the Stated Maturity or by declaration of acceleration, upon redemption at the
option of the Company, upon repurchase or repayment at the option of the Holder
or otherwise, and includes a Redemption Date for such Security and a date fixed
for the repurchase or repayment of such Security at the option of the Holder.

     "New York Banking Day" has the meaning specified in Section 116.

     "Non-Recourse Land Financing" means any Indebtedness of the Company or any
Restricted Subsidiary for which the holder of such Indebtedness has no recourse,
directly or indirectly, to the Company or such Restricted Subsidiary for the
principal of, premium, if any, and interest on such Indebtedness, and for which
the Company or such Restricted Subsidiary is not, directly or indirectly,
obligated or otherwise liable for the principal of, premium, if any, and
interest on such Indebtedness, except pursuant to mortgages, deeds of trust or
other Security Interests or other recourse obligations or liabilities in respect
of specific land or other real property interests of the Company or such
Restricted Subsidiary; provided that recourse, obligations or liabilities of the
Company or such Restricted Subsidiary solely for indemnities, covenants or
breach of warranty, representation or covenant in respect of any Indebtedness
will not prevent Indebtedness from being classified as Non-Recourse Land
Financing.

     "Office" or "Agency", with respect to any Securities, means an office or
agency of the Company maintained or designated in a Place of Payment for such
Securities pursuant to Section 1002 or any other office or agency of the Company
maintained or designated for such Securities pursuant to Section 1002 or, to the
extent designated or required by Section 1002 in lieu of such office or agency,
the Corporate Trust Office of the Trustee.

     "Officers' Certificate" means a certificate signed by the Chairman, the
Chief Executive Officer, the President or a Vice President, and by the
Treasurer, an Assistant Treasurer, the Secretary or an Assistant Secretary of
the Company, that complies with the requirements of Section 314(e) of the Trust
Indenture Act and is delivered to the Trustee.

     "Opinion of Counsel" means a written opinion of counsel, who may be an
employee of or counsel for the Company or other counsel who shall be reasonably
acceptable to the Trustee, that, if required by the Trust Indenture Act,
complies with the requirements of Section 314(e) of the Trust Indenture Act.

     "Original Issue Discount Security" means a Security issued pursuant to this
Indenture which provides for an amount less than the principal face amount
thereof to be due and payable upon declaration of acceleration pursuant to
Section 502.

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

                                       7

<PAGE>

     (a)  any such Security theretofore cancelled by the Trustee or the Security
          Registrar or delivered to the Trustee or the Security Registrar for
          cancellation;

     (b)  any such Security for whose payment at the Maturity thereof money in
          the necessary amount (or, to the extent that such Security is payable
          at such Maturity in shares of Common Stock or other securities or
          property, Common Stock or such other securities or property in the
          necessary amount, together with, if applicable, cash in lieu of
          fractional shares or securities) has been theretofore deposited
          pursuant hereto (other than pursuant to Section 402) with the Trustee
          or any Paying Agent (other than the Company) in trust or set aside and
          segregated in trust by the Company (if the Company shall act as its
          own Paying Agent) for the Holders of such Securities and any Coupons
          appertaining thereto, provided that, if such Securities are to be
          redeemed, notice of such redemption has been duly given pursuant to
          this Indenture or provision therefor satisfactory to the Trustee has
          been made;

     (c)  any such Security with respect to which the Company has effected
          defeasance or covenant defeasance pursuant to Section 402, except to
          the extent provided in Section 402;

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

     (e)  any such Security converted or exchanged as contemplated by this
          Indenture into Common Stock or other securities or property, if the
          terms of such Security provide for such conversion or exchange
          pursuant to Section 301;

provided, however, that in determining whether the Holders of the requisite
principal amount of Outstanding Securities have given any request, demand,
authorization, direction, notice, consent or waiver hereunder or are present at
a meeting of Holders of Securities for quorum purposes, (i) the principal amount
of an Original Issue Discount Security that may be counted in making such
determination and that shall be deemed to be Outstanding for such purposes shall
be equal to the amount of the principal thereof that pursuant to the terms of
such Original Issue Discount Security would be declared (or shall have been
declared to be) due and payable upon a declaration of acceleration thereof
pursuant to Section 502 at the time of such determination, and (ii) the
principal amount of any Indexed Security that may be counted in making such
determination and that shall be deemed Outstanding for such purpose shall be
equal to the principal face amount of such Indexed Security at original
issuance, unless otherwise provided in or pursuant to this Indenture, and (iii)
the principal amount of a Security denominated in a Foreign Currency that may be
counted in making such determination and that shall be deemed

                                       8

<PAGE>

Outstanding for such purposes shall be the Dollar equivalent, determined on the
date of original issuance of such Security, of the principal amount (or, in the
case of an Original Issue Discount Security, the Dollar equivalent on the date
of original issuance of such Security of the amount determined as provided in
(i) above) of such Security, and (iv) Securities owned by the Company or 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, except that, in
determining whether the Trustee shall be protected in making any such
determination or relying upon any such request, demand, authorization,
direction, notice, consent or waiver, only Securities which a Responsible
Officer of the Trustee knows to be so owned shall be so disregarded. Securities
so owned which shall have been pledged in good faith may be regarded as
Outstanding if the pledgee establishes to the satisfaction of the Trustee (A)
the pledgee's right so to act with respect to such Securities and (B) that the
pledgee is not the Company or any other obligor upon the Securities or any
Coupons appertaining thereto or an Affiliate (other than a Trust) of the Company
or such other obligor.

     "Paying Agent" means any Person authorized by the Company to pay the
principal of, or any premium or interest on, or any Additional Amounts with
respect to, any Security or any Coupon on behalf of the Company.

     "Person" and "person" mean any individual, Corporation, joint venture,
joint-stock company, trust, unincorporated organization or government or any
agency or political subdivision thereof.

     "Place of Payment", with respect to any Security, means the place or places
where the principal of, or any premium or interest on, or any Additional Amounts
with respect to such Security are payable as provided in or pursuant to this
Indenture or such Security.

     "Predecessor Security" of any particular Security means every previous
Security evidencing all or a portion of the same indebtedness as that evidenced
by such particular Security; and, for the purposes of this definition, any
Security authenticated and delivered under Section 306 in exchange for or in
lieu of a lost, destroyed, mutilated or stolen Security or any Security to which
a mutilated, destroyed, lost or stolen Coupon appertains shall be deemed to
evidence the same indebtedness as the lost, destroyed, mutilated or stolen
Security or the Security to which a mutilated, destroyed, lost or stolen Coupon
appertains.

     "Redeemable Capital Stock" means any Capital Stock of the Company or any
Subsidiary that, either by its terms, by the terms of any security into which it
is convertible or exchangeable or otherwise, (i) is or upon the happening of an
event or passage of time would be required to be redeemed on or prior to the
final Stated Maturity of the Securities or (ii) is redeemable at the Option of
the holder thereof at any time prior to such final Stated Maturity or (iii) is
convertible into or exchangeable for debt securities at any time prior to such
final Stated Maturity.

     "Redemption Date", with respect to any Security or portion thereof to be
redeemed, means the date fixed for such redemption by or pursuant to this
Indenture or such Security.

                                       9

<PAGE>

     "Redemption Price", with respect to any Security or portion thereof to be
redeemed, means the price at which it is to be redeemed as determined by or
pursuant to this Indenture or such Security.

     "Registered Security" means any Security established pursuant to Section
201 which is registered in the Security Register.

     "Regular Record Date" for the interest payable on any Registered Security
on any Interest Payment Date therefor means the date, if any, specified in or
pursuant to this Indenture or such Security as the record date for the payment
of such interest.

     "Required Currency" has the meaning specified in Section 116.

     "Responsible Officer" means any officer of the Trustee in its Corporate
Trust Office and also means, with respect to a particular corporate trust
matter, any other officer or employee of the Trustee to whom such matter is
referred because of his or her knowledge of and familiarity with the particular
subject.

     "Restricted Subsidiary" means any Subsidiary of the Company as of the date
of this Indenture and any successor to such Subsidiary, other than ______.

     "Securities Act" means the Securities Act of 1933, as amended, or any
successor thereto, in each case as amended from time to time.

     "Security Interest" means any mortgage, pledge, lien, encumbrance or other
security interest which secures payment or performance of an obligation.

     "Security" or "Securities" means any note or notes, bond or bonds,
debenture or debentures, or any other evidences of indebtedness, as the case may
be, authenticated and delivered under this Indenture; provided, however, that,
if at any time there is more than one Person acting as Trustee under this
Indenture, "Securities", with respect to any such Person, shall mean Securities
authenticated and delivered under this Indenture, exclusive, however, of
Securities of any series as to which such Person is not Trustee.

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

     "Senior Indebtedness", when used with respect to the Securities of any
series, shall have the meaning established pursuant to Section 301(25) with
respect to the Securities of such series.

     "Significant Subsidiary" means any Subsidiary (i) whose revenues exceed 10%
of the total revenues of the Company, in each case for the most recent fiscal
year, or (ii) whose net worth exceeds 10% of the total stockholders' equity of
the Company, in each case as of the end of the most recent fiscal year.

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

                                       10

<PAGE>

     "Stated Maturity", with respect to any Security or any installment of
principal thereof or interest thereon or any Additional Amounts with respect
thereto, means the date established by or pursuant to this Indenture or such
Security as the fixed date on which the principal of such Security or such
installment of principal or interest is, or such Additional Amounts are, due and
payable.

     "Subordination Provisions", when used with respect to the Securities of any
series, shall have the meaning established pursuant to Section 301(25) with
respect to the Securities of such series.

     "Subsidiary" means (1) any corporation at least a majority of the total
voting power of whose outstanding Voting Stock is owned, directly or indirectly,
at the date of determination by the Company and/or one or more other
Subsidiaries, and (2) any other Person in which the Company and/or one or more
other Subsidiaries, directly or indirectly, at the date of determination, (x)
own at least a majority of the outstanding ownership interests or (y) have the
power to elect or direct the election of, or to appoint or approve the
appointment of, at least a majority of the directors, trustees or managing
members of, or other persons holding similar positions with, such Person.

     "Trust Indenture Act" means the Trust Indenture Act of 1939, as amended,
and any reference herein to the Trust Indenture Act or a particular provision
thereof shall mean such Act or provision, as the case may be, as amended or
replaced from time to time or as supplemented from time to time by rules or
regulations adopted by the Commission under or in furtherance of the purposes of
such Act or provision, as the case may be.

     "Trustee" means the Person named as the "Trustee" in the first paragraph of
this instrument until a successor Trustee shall have become such with respect to
one or more series of Securities pursuant to the applicable provisions of this
Indenture, and thereafter "Trustee" shall mean each Person who is then a Trustee
hereunder; provided, however, that if at any time there is more than one such
Person, "Trustee" shall mean each such Person and as used with respect to the
Securities of any series shall mean the Trustee with respect to the Securities
of such series.

     "United States", means the United States of America (including the states
thereof and the District of Columbia), its territories, its possessions and
other areas subject to its jurisdiction; and the term "United States of America"
means the United States of America.

     "United States Alien", except as otherwise provided in or pursuant to this
Indenture or any Security, means any Person who, for United States Federal
income tax purposes, is a foreign corporation, a non-resident alien individual,
a non-resident alien fiduciary of a foreign estate or trust, or a foreign
partnership one or more of the members of which is, for United States Federal
income tax purposes, a foreign corporation, a non-resident alien individual or a
non-resident alien fiduciary of a foreign estate or trust.

     "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".

                                       11

<PAGE>

     "Voting Stock" means, with respect to any Person, any class or series of
Capital Stock of such Person the holders of which are ordinarily, in the absence
of contingencies, entitled to vote for the election of, or to appoint or to
approve the appointment of, the directors, trustees or managing members of, or
other persons holding similar positions with, such Person.

     Section 102. Compliance Certificates and Opinions.

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

     Section 103. Form of Documents Delivered to Trustee.

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

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

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

     Section 104. Acts of Holders.

     (1) Any request, demand, authorization, direction, notice, consent, waiver
or other action provided by or pursuant to this Indenture to be made, 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. If, but only if, Securities of a series are issuable as
Bearer Securities, any request, demand, authorization, direction, notice,
consent, waiver or other action provided in or pursuant to this Indenture to be
made, given or

                                       12

<PAGE>

taken by Holders of Securities of such series may, alternatively, be embodied in
and evidenced by the record of Holders of Securities of such series voting in
favor thereof, either in person or by proxies duly appointed in writing, at any
meeting of Holders of Securities of such series duly called and held in
accordance with the provisions of Article Fifteen, or a combination of such
instruments and any such record. Except as herein otherwise expressly provided,
such action shall become effective when such instrument or instruments or record
or both are delivered to the Trustee and, where it is hereby expressly required,
to the Company. Such instrument or instruments and any such record (and the
action embodied therein and evidenced thereby) are herein sometimes referred to
as the "Act" of the Holders signing such instrument or instruments or so voting
at any such meeting. Proof of execution of any such instrument or of a writing
appointing any such agent, or of the holding by any Person of a Security, shall
be sufficient for any purpose of this Indenture and (subject to Section 315 of
the Trust Indenture Act) conclusive in favor of the Trustee and the Company and
any agent of the Trustee or the Company, if made in the manner provided in this
Section. The record of any meeting of Holders of Securities shall be proved in
the manner provided in Section 1506.

     Without limiting the generality of this Section 104, unless otherwise
provided in or pursuant to this Indenture, a Holder, including a Depository that
is a Holder of a global Security, may make, give or take, by a proxy or proxies,
duly appointed in writing, any request, demand, authorization, direction,
notice, consent, waiver or other Act provided in or pursuant to this Indenture
or the Securities to be made, given or taken by Holders, and a Depository that
is a Holder of a global Security may provide its proxy or proxies to the
beneficial owners of interests in any such global Security through such
Depository's standing instructions and customary practices.

     (2) The fact and date of the execution by any Person of any such instrument
or writing may be proved in any reasonable manner which the Trustee deems
sufficient and in accordance with such reasonable rules as the Trustee may
determine; and the Trustee may in any instance require further proof with
respect to any of the matters referred to in this Section.

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

     (4) The ownership, principal amount and serial numbers of Bearer Securities
held by any Person, and the date of the commencement and the date of the
termination of holding the same, may be proved by the production of such Bearer
Securities or by a certificate executed, as depositary, by any trust company,
bank, banker or other depositary reasonably acceptable to the Company, wherever
situated, if such certificate shall be deemed by the Company and the Trustee to
be satisfactory, showing that at the date therein mentioned such Person had on
deposit with such depositary, or exhibited to it, the Bearer Securities therein
described; or such facts may be proved by the certificate or affidavit of the
Person holding such Bearer Securities, if such certificate or affidavit is
deemed by the Company and the Trustee to be satisfactory. The Trustee and the
Company may assume that such ownership of any Bearer Security continues until
(1) another certificate or affidavit bearing a later date issued in respect of
the same Bearer Security is produced, or (2) such Bearer Security is produced to
the Trustee by some other Person, or (3) such Bearer Security is surrendered in
exchange for a Registered Security, or

                                       13

<PAGE>

(4) such Bearer Security is no longer Outstanding. The ownership, principal
amount and serial numbers of Bearer Securities held by the Person so executing
such instrument or writing and the date of the commencement and the date of the
termination of holding the same may also be proved in any other manner which the
Company and the Trustee deem sufficient.

     (5) If the Company shall solicit from the Holders of any Registered
Securities any request, demand, authorization, direction, notice, consent,
waiver or other Act, the Company may at its option (but is not obligated to), by
Board Resolution, fix in advance a record date for the determination of Holders
of Registered Securities entitled to give such request, demand, authorization,
direction, notice, consent, waiver or other Act. If such a record date is fixed,
such request, demand, authorization, direction, notice, consent, waiver or other
Act may be given before or after such record date, but only the Holders of
Registered Securities 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 Outstanding Securities have authorized or agreed or
consented to such request, demand, authorization, direction, notice, consent,
waiver or other Act, and for that purpose the Outstanding Securities shall be
computed as of such record date; provided that no such authorization, agreement
or consent by the Holders of Registered Securities shall be deemed effective
unless it shall become effective pursuant to the provisions of this Indenture
not later than six months after the record date.

     (6) Any request, demand, authorization, direction, notice, consent, waiver
or other Act by the Holder of any Security shall bind every future Holder of the
same Security and the Holder of every Security issued upon the registration of
transfer thereof or in exchange therefor or in lieu thereof in respect of
anything done or suffered to be done by the Trustee, any Security Registrar, any
Paying Agent or the Company in reliance thereon, whether or not notation of such
Act is made upon such Security.

     Section 105. Notices, etc. to Trustee and Company.

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

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

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

     Section 106. Notice to Holders of Securities; Waiver.

     Except as otherwise expressly provided in or pursuant to this Indenture,
where this Indenture provides for notice to Holders of Securities of any event,

                                       14

<PAGE>

          (1) such notice shall be sufficiently given to Holders of Registered
     Securities if in writing and mailed, first-class postage prepaid, to each
     Holder of a Registered Security affected by such event, at his address as
     it appears in the Security Register, not later than the latest date, and
     not earlier than the earliest date, prescribed for the giving of such
     notice; and

          (2) such notice shall be sufficiently given to Holders of Bearer
     Securities, if any, if published in an Authorized Newspaper in The City of
     New York and, if such Securities are then listed on any stock exchange
     outside the United States, in an Authorized Newspaper in such city as the
     Company shall advise the Trustee that such stock exchange so requires, on a
     Business Day at least twice, the first such publication to be not earlier
     than the earliest date and the second such publication not later than the
     latest date prescribed for the giving of such notice.

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

     In case by reason of the suspension of publication of any Authorized
Newspaper or Authorized Newspapers or by reason of any other cause it shall be
impracticable to publish any notice to Holders of Bearer Securities as provided
above, then such notification to Holders of Bearer Securities as shall be given
with the approval of the Trustee shall constitute sufficient notice to such
Holders for every purpose hereunder. Neither failure to give notice by
publication to Holders of Bearer Securities as provided above, nor any defect in
any notice so published, shall affect the sufficiency of any notice mailed to
Holders of Registered Securities as provided above.

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

     Section 107. Language of Notices.

     Any request, demand, authorization, direction, notice, consent, election or
waiver required or permitted under this Indenture shall be in the English
language, except that, if the Company so elects, any published notice may be in
an official language of the country of publication.

                                       15

<PAGE>

     Section 108. Conflict with Trust Indenture Act.

     If any provision hereof limits, qualifies or conflicts with any duties
under any required provision of the Trust Indenture Act imposed hereon by
Section 318(c) thereof, such required provision shall control.

     Section 109. Effect of Headings and Table of Contents.

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

     Section 110. Successors and Assigns.

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

     Section 111. Separability Clause.

     In case any provision in this Indenture, any Security or any Coupon shall
be invalid, illegal or unenforceable, the validity, legality and enforceability
of the remaining provisions shall not, to the fullest extent permitted by law,
in any way be affected or impaired thereby.

     Section 112. Benefits of Indenture.

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

     Section 113. Governing Law.

     This Indenture, the Securities and any Coupons shall be governed by and
construed in accordance with the laws of the State of New York applicable to
agreements made or instruments entered into and, in each case, performed in said
State.

     Section 114. Legal Holidays.

     Unless otherwise specified in or pursuant to this Indenture or any
Securities, in any case where any Interest Payment Date, Stated Maturity or
Maturity of, or any other day on which a payment is due with respect to, any
Security shall be a day which is not a Business Day at any Place of Payment,
then (notwithstanding any other provision of this Indenture, any Security or any
Coupon other than a provision in any Security or Coupon or in the Board
Resolution, Officers' Certificate or supplemental indenture establishing the
terms of any Security that specifically states that such provision shall apply
in lieu hereof) payment need not be made at such Place of Payment on such date,
but such payment may be made on the next succeeding day that is a Business Day
at such Place of Payment with the same force and effect as if made on the
Interest Payment Date, at the Stated Maturity or Maturity or on any such other
payment date, as

                                       16

<PAGE>

the case may be, and no interest shall accrue on the amount payable on such date
or at such time for the period from and after such Interest Payment Date, Stated
Maturity, Maturity or other payment date, as the case may be, to the next
succeeding Business Day.

     Section 115. Counterparts.

     This Indenture may be executed in several counterparts, each of which shall
be an original and all of which shall constitute but one and the same
instrument.

     Section 116. 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 it is necessary to convert the sum due in respect of the principal of, or
premium or interest, if any, or Additional Amounts on the Securities of any
series (the "Required Currency") into a currency in which a judgment will be
rendered (the "Judgment Currency"), the rate of exchange used shall be the rate
at which in accordance with normal banking procedures the Trustee could purchase
in The City of New York the Required Currency with the Judgment Currency on the
New York Banking Day preceding that on which a final unappealable judgment is
given and (b) its obligations under this Indenture to make payments in the
Required Currency (i) shall not be discharged or satisfied by any tender, or any
recovery pursuant to any judgment (whether or not entered in accordance with
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
payee, 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. For purposes of the foregoing, "New York Banking Day" means any
day except a Saturday, Sunday or a legal holiday in The City of New York or a
day on which banking institutions in The City of New York are authorized or
obligated by law, regulation or executive order to be closed. The provisions of
this Section 116 shall not be applicable with respect to any payment due on a
Security which is payable in Dollars.

     Section 117. Extension of Payment Dates.

     In the event that (i) the terms of any Security or Coupon appertaining
thereto established in or pursuant to this Indenture permit the Company or any
Holder thereof to extend the date on which any payment of principal of, or
premium, if any, or interest, if any, on, or Additional Amounts, if any, with
respect to such Security or Coupon is due and payable and (ii) the due date for
any such payment shall have been so extended, then all references herein to the
Stated Maturity of such payment (and all references of like import) shall be
deemed to refer to the date as so extended.

     Section 118. Immunity of Stockholders, Directors, Officers and Agents of
the Company.

     No recourse under or upon any obligation, covenant or agreement contained
in this Indenture, or in any Security, or because of any indebtedness evidenced
thereby, shall be had

                                       17

<PAGE>

against any past, present or future stockholder, employee, officer or director,
as such, of the Company or of any predecessor or successor, either directly or
through the Company or any predecessor or successor, under any rule of law,
statute or constitutional provision or by the enforcement of any assessment or
by any legal or equitable proceeding or otherwise, all such liability being
expressly waived and released by the acceptance of the Securities by the Holders
and as part of the consideration for the issue of the Securities.

                                   ARTICLE TWO

                                SECURITIES FORMS

     Section 201. Forms Generally.

     Each Registered Security, Bearer Security, Coupon and temporary or
permanent global Security issued pursuant to this Indenture shall be in the form
established by or pursuant to a Board Resolution and set forth in an Officers'
Certificate, or established in one or more indentures supplemental hereto, shall
have such appropriate insertions, omissions, substitutions and other variations
as are required or permitted by or pursuant to this Indenture or any indenture
supplemental hereto and may have such letters, numbers or other marks of
identification and such legends or endorsements placed thereon as may,
consistently herewith, be determined by the officer of the Company executing
such Security or Coupon as evidenced by the execution of such Security or
Coupon.

     Unless otherwise provided in or pursuant to this Indenture or any
Securities, the Securities shall be issuable in registered form without Coupons.

     Definitive Securities and definitive Coupons shall be printed, lithographed
or engraved or produced by any combination of these methods on a steel engraved
border or steel engraved borders or may be produced in any other manner, all as
determined by the officer of the Company executing such Securities or Coupons,
as evidenced by the execution of such Securities or Coupons.

     Section 202. Form of Trustee's Certificate of Authentication.

     Subject to Section 611, the Trustee's certificate of authentication shall
be in substantially the following form:

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

                                        -------------------------------------,
                                        as Trustee

                                        By:
                                            ------------------------------------
                                            Authorized Signatory

                                       18

<PAGE>

     Section 203. Securities in Global Form.

     Unless otherwise provided in or pursuant to this Indenture or any
Securities, the Securities shall not be issuable in temporary or permanent
global form. If Securities of a series shall be issuable in global form, any
such Security may provide that it or any number of such Securities shall
represent the aggregate amount of all Outstanding Securities of such series (or
such lesser amount as is permitted by the terms thereof) 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 increased or reduced to
reflect exchanges. Any endorsement of any Security in global form to reflect the
amount, or any increase or decrease in the amount, or changes in the rights of
Holders, 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
Company Order to be delivered pursuant to Section 303 or 304 with respect
thereto. Subject to the provisions of Section 303 and, if applicable, Section
304, the Trustee shall deliver and redeliver any Security in permanent global
form in the manner and upon instructions given by the Person or Persons
specified therein or in the applicable Company Order. If a Company Order
pursuant to Section 303 or 304 has been, or simultaneously is, delivered, any
instructions by the Company with respect to a Security in global form shall be
in writing but need not be accompanied by or contained in an Officers'
Certificate and need not be accompanied by an Opinion of Counsel.
Notwithstanding the foregoing provisions of this paragraph, in the event a
global Security is exchangeable for definitive Securities as provided in Section
305, then, unless otherwise provided in or pursuant to this Indenture with
respect to the Securities of such series, the Trustee shall deliver and
redeliver such global Security to the extent necessary to effect such exchanges,
shall endorse such global Security to reflect any decrease in the principal
amount thereto resulting from such exchanges and shall take such other actions,
all as contemplated by Section 305.

     Notwithstanding the provisions of Section 307, unless otherwise specified
in or pursuant to this Indenture or any Securities, payment of principal of, any
premium and interest on, and any Additional Amounts in respect of any Security
in temporary or permanent global form shall be made to the Person or Persons
specified therein.

     Notwithstanding the provisions of Section 308 and except as provided in the
preceding paragraph, the Company, the Trustee and any agent of the Company and
the Trustee shall treat as the Holder of such principal amount of Outstanding
Securities represented by a global Security (i) in the case of a global Security
in registered form, the Holder of such global Security in registered form, or
(ii) in the case of a global Security in bearer form, the Person or Persons
specified pursuant to Section 301.

                                       19

<PAGE>

                                 ARTICLE THREE

                                 THE SECURITIES

     Section 301. Amount Unlimited; Issuable in Series.

     The aggregate principal amount of Securities which may be authenticated and
delivered under this Indenture is unlimited. The Securities may be issued in one
or more series.

     With respect to any Securities to be authenticated and delivered hereunder,
there shall be established in or pursuant to one or more Board Resolutions and,
subject to Section 303, set forth in an Officers' Certificate, or established in
one or more indentures supplemental hereto, prior to the issuance of any
Securities of a series,

          (1) the title of the Securities of such series;

          (2) any limit upon the aggregate principal amount of the Securities of
     such series which may be authenticated and delivered under this Indenture
     (except for Securities authenticated and delivered upon registration of
     transfer of, or in exchange for, or in lieu of, other Securities of such
     series pursuant to Section 304, 305, 306, 905 or 1107, upon repayment in
     part of any Security of such series pursuant to Article Thirteen or upon
     surrender in part of any Security for conversion or exchange into Common
     Stock or other securities or property pursuant to its terms), and if such
     series may be reopened from time to time for the issuance of additional
     Securities of such series or to establish additional terms of such series;

          (3) if such Securities are to be issuable as Registered Securities, as
     Bearer Securities or alternatively as Bearer Securities and Registered
     Securities, and whether the Bearer Securities are to be issuable with
     Coupons, without Coupons or both, and any restrictions applicable to the
     offer, sale or delivery of the Bearer Securities and the terms, if any,
     upon which Bearer Securities may be exchanged for Registered Securities and
     vice versa;

          (4) if any of such Securities are to be issuable in global form, when
     any of such Securities are to be issuable in global form and (i) whether
     such Securities are to be issued in temporary or permanent global form or
     both, (ii) whether beneficial owners of interests in any such global
     Security may exchange such interests for Securities of the same series and
     of like tenor and of any authorized form and denomination, and the
     circumstances under which any such exchanges may occur, if other than in
     the manner specified in Section 305, (iii) the name of the Depository with
     respect to any such global Security and (iv) if applicable and in addition
     to the Persons specified in Section 305, the Person or Persons who shall be
     entitled to make any endorsements on any such global Security and to give
     the instructions and take the other actions with respect to such global
     Security contemplated by the first paragraph of Section 203;

                                       20

<PAGE>

          (5) if any of such Securities are to be issuable as Bearer Securities,
     the date as of which any such Bearer Security shall be dated (if other than
     the date of original issuance of the first of such Securities to be
     issued);

          (6) if any of such Securities are to be issuable as Bearer Securities,
     whether interest in respect of any portion of a temporary Bearer Security
     in global form payable in respect of an Interest Payment Date therefor
     prior to the exchange, if any, of such temporary Bearer Security for
     definitive Securities shall be paid to any clearing organization with
     respect to the portion of such temporary Bearer Security held for its
     account and, in such event, the terms and conditions (including any
     certification requirements) upon which any such interest payment received
     by a clearing organization will be credited to the Persons entitled to
     interest payable on such Interest Payment Date;

          (7) the date or dates, or the method or methods, if any, by which such
     date or dates shall be determined, on which the principal and premium, if
     any, of such Securities is payable;

          (8) the rate or rates at which such Securities shall bear interest, if
     any, or the method or methods, if any, by which such rate or rates are to
     be determined, the date or dates, if any, from which such interest shall
     accrue or the method or methods, if any, by which such date or dates are to
     be determined, the Interest Payment Dates, if any, on which such interest
     shall be payable and the Regular Record Date, if any, for the interest
     payable on Registered Securities on any Interest Payment Date, the notice,
     if any, to Holders regarding the determination of interest on a floating
     rate Security and the manner of giving such notice, and the basis upon
     which interest shall be calculated if other than that of a 360-day year of
     twelve 30-day months;

          (9) if in addition to or other than the Borough of Manhattan, The City
     of New York, the place or places where the principal of, any premium and
     interest on or any Additional Amounts with respect to such Securities shall
     be payable, any of such Securities that are Registered Securities may be
     surrendered for registration of transfer or exchange, any of such
     Securities may be surrendered for conversion or exchange and notices or
     demands to or upon the Company in respect of such Securities and this
     Indenture may be served;

          (10) whether any of such Securities are to be redeemable at the option
     of the Company and, if so, the date or dates on which, the period or
     periods within which, the price or prices at which and the other terms and
     conditions upon which such Securities may be redeemed, in whole or in part,
     at the option of the Company;

          (11) if the Company is obligated to redeem or purchase any of such
     Securities pursuant to any sinking fund or analogous provision or at the
     option of any Holder thereof and, if so, the date or dates on which, the
     period or periods within which, the price or prices at which and the other
     terms and conditions upon which such Securities shall be redeemed or
     purchased, in whole or in part, pursuant to such obligation, and any
     provisions for the remarketing of such Securities so redeemed or purchased;

                                       21

<PAGE>

          (12) the denominations in which any of such Securities that are
     Registered Securities shall be issuable if other than denominations of
     $1,000 and any integral multiple thereof, and the denominations in which
     any of such Securities that are Bearer Securities shall be issuable if
     other than the denomination of $5,000;

          (13) whether the Securities of the series will be convertible into
     and/or exchangeable for Common Stock or other securities or property, and
     if so, the terms and conditions upon which such Securities will be so
     convertible or exchangeable, and any deletions from or modifications or
     additions to this Indenture to permit or to facilitate the issuance of such
     convertible or exchangeable Securities or the administration thereof;

          (14) if other than the principal amount thereof, the portion of the
     principal amount of any of such Securities that shall be payable upon
     declaration of acceleration of the Maturity thereof pursuant to Section 502
     or the method by which such portion is to be determined;

          (15) if other than Dollars, the Foreign Currency in which payment of
     the principal of, any premium or interest on or any Additional Amounts with
     respect to any of such Securities shall be payable;

          (16) if the principal of, any premium or interest on or any Additional
     Amounts with respect to any of such Securities are to be payable, at the
     election of the Company or a Holder thereof or otherwise, in Dollars or in
     a Foreign Currency other than that in which such Securities are stated to
     be payable, the date or dates on which, the period or periods within which,
     and the other terms and conditions upon which, such election may be made,
     and the time and manner of determining the exchange rate between the
     Currency in which such Securities are stated to be payable and the Currency
     in which such Securities or any of them are to be paid pursuant to such
     election, and any deletions from or modifications of or additions to the
     terms of this Indenture to provide for or to facilitate the issuance of
     Securities denominated or payable, at the election of the Company or a
     Holder thereof or otherwise, in a Foreign Currency;

          (17) if the amount of payments of principal of, any premium or
     interest on or any Additional Amounts with respect to such Securities may
     be determined with reference to an index, formula or other method or
     methods (which index, formula or method or methods may be based, without
     limitation, on one or more Currencies, commodities, equity indices or other
     indices), and, if so, the terms and conditions upon which and the manner in
     which such amounts shall be determined and paid or payable;

          (18) any deletions from, modifications of or additions to the Events
     of Default or covenants of the Company with respect to any of such
     Securities (whether or not such Events of Default or covenants are
     consistent with the Events of Default or covenants set forth herein), and
     if Section 1008 shall be applicable with respect to any such additional
     covenants;

          (19) if any one or more of Section 401 relating to satisfaction and
     discharge, Section 402(2) relating to defeasance or Section 402(3) relating
     to covenant defeasance

                                       22

<PAGE>

     shall not be applicable to the Securities of such series, and any covenants
     in addition to or other than those specified in Section 402(3) relating to
     the Securities of such series which shall be subject to covenant
     defeasance, and, if the Securities of such series are subject to repurchase
     or repayment at the option of the Holders thereof pursuant to Article
     Thirteen, if the Company's obligation to repurchase or repay such
     Securities will be subject to satisfaction and discharge pursuant to
     Section 401 or to defeasance or covenant defeasance pursuant to Section
     402, and, if the Holders of such Securities have the right to convert or
     exchange such Securities into Common Stock or other securities or property,
     if the right to effect such conversion or exchange will be subject to
     satisfaction and discharge pursuant to Section 401 or to defeasance or
     covenant defeasance pursuant to Section 402, and any deletions from, or
     modifications or additions to, the provisions of Article Four (including
     any modification which would permit satisfaction and discharge, defeasance
     or covenant defeasance to be effected with respect to less than all of the
     outstanding Securities of such series) in respect of the Securities of such
     series;

          (20) if any of such Securities are to be issuable upon the exercise of
     warrants, and the time, manner and place for such Securities to be
     authenticated and delivered;

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

          (22) whether and under what circumstances the Company will pay
     Additional Amounts on such Securities to any holder who is a United States
     Alien in respect of any tax, assessment or other government charge and, if
     so, whether the Company will have the option to redeem such Securities
     rather than pay such Additional Amounts;

          (23) if there is more than one Trustee, the identity of the Trustee
     and, if not the Trustee, the identity of each Security Registrar, Paying
     Agent or Authenticating Agent with respect to such Securities;

          (24) the Person to whom any interest on any Registered Security of
     such series shall be payable, if other than the Person in whose name the
     Registered Security (or one or more Predecessor Securities) is registered
     at the close of business on the Regular Record Date for such interest, the
     manner in which, or the Person to whom, any interest on any Bearer Security
     of such series shall be payable, if other than upon presentation and
     surrender of the Coupons appertaining thereto as they severally mature, and
     the extent to which, or the manner in which, any interest payable on a
     temporary global Security will be paid if other than in the manner provided
     in this Indenture;

          (25) the terms pursuant to which the Securities of such series will be
     made subordinate in right of payment to Senior Indebtedness, the definition
     of such Senior Indebtedness with respect to such series and any changes in
     Article Sixteen with respect to such series, and a Board Resolution,
     Officers' Certificate or supplemental indenture, as the case may be,
     establishing the terms of such series shall expressly state which articles,

                                       23

<PAGE>

     sections or other provisions thereof constitute the "Subordination
     Provisions" with respect to the Securities of such series;

          (26) if the Securities of such series are to be guaranteed by one or
     more of the Company's Subsidiaries, the name of such Subsidiaries and the
     terms pursuant to which the Securities of such series will be guaranteed,
     and a Board Resolution, Officer's Certificate or supplemental indenture, as
     the case may be, establishing the terms of such series shall expressly
     state which articles, sections or other provisions thereof constitute
     "Guarantee Provisions" with respect to securities of such series; and

          (27) any other terms of such Securities and any deletions from or
     modifications or additions to this Indenture in respect of such Securities.

     All Securities of any one series and all Coupons, if any, appertaining to
Bearer Securities of such series shall be substantially identical except as to
Currency of payments due thereunder, denomination and the rate of interest, or
method of determining the rate of interest, if any, Maturity, and the date from
which interest, if any, shall accrue and except as may otherwise be provided by
the Company in or pursuant to the Board Resolution and set forth in the
Officers' Certificate or in any indenture or indentures supplemental hereto
pertaining to such series of Securities. The terms of the Securities of any
series may provide, without limitation, that the Securities shall be
authenticated and delivered by the Trustee on original issue from time to time
upon telephonic or written order of persons designated in the Board Resolution,
Officers' Certificate or supplemental indenture, as the case may be, pertaining
to such series of Securities (telephonic instructions to be promptly confirmed
in writing by such person) and that such persons are authorized to determine,
consistent with such Board Resolution, Officers' Certificate or supplemental
indenture, such terms and conditions of the Securities of such series as are
specified in such Board Resolution, Officers' Certificate or supplemental
indenture. All Securities of any one series need not be issued at the same time
and, if so provided by the Company as contemplated by this Section 301, a series
may be reopened from time to time without the consent of any Holders for
issuances of additional Securities of such series or to establish additional
terms of such series of Securities.

     If any of the terms of the Securities of any series shall be established by
action taken by or pursuant to a Board Resolution, the Board Resolution shall be
delivered to the Trustee at or prior to the delivery of the Officers'
Certificate setting forth the terms of such series.

     Section 302. Currency; Denominations.

     Unless otherwise provided in or pursuant to this Indenture, the principal
of, any premium and interest on and any Additional Amounts with respect to the
Securities shall be payable in Dollars. Unless otherwise provided in or pursuant
to this Indenture, Registered Securities denominated in Dollars shall be
issuable in registered form without Coupons in denominations of $1,000 and any
integral multiple thereof, and the Bearer Securities denominated in Dollars
shall be issuable in the denomination of $5,000. Securities not denominated in
Dollars shall be issuable in such denominations as are established with respect
to such Securities in or pursuant to this Indenture.

                                       24

<PAGE>

     Section 303. Execution, Authentication, Delivery and Dating.

     Securities shall be executed on behalf of the Company by its Chairman, its
President or one of its Vice Presidents and by its Treasurer, one of its
Assistant Treasurers, its Secretary or one of its Assistant Secretaries and may
(but need not) have its corporate seal or a facsimile thereof reproduced
thereon. Coupons shall be executed on behalf of the Company by the Chairman, the
President or any Vice President of the Company. The signature of any of these
officers on the Securities or any Coupons appertaining thereto may be manual or
facsimile.

     Securities and any Coupons appertaining thereto bearing the manual or
facsimile signatures of individuals who were at any time the proper officers of
the Company shall, to the fullest extent permitted by law, 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 or Coupons.

     At any time and from time to time after the execution and delivery of this
Indenture, the Company may deliver Securities, together with any Coupons
appertaining thereto, executed by the Company, to the Trustee for authentication
and, provided that the Board Resolution and Officers' Certificate or
supplemental indenture or indentures with respect to such Securities referred to
in Section 301 and a Company Order for the authentication and delivery of such
Securities have been delivered to the Trustee, the Trustee in accordance with
the Company Order and subject to the provisions hereof and of such Securities
shall authenticate and deliver such Securities. In authenticating such
Securities, and accepting the additional responsibilities under this Indenture
in relation to such Securities and any Coupons appertaining thereto, the Trustee
shall be entitled to receive, and (subject to Sections 315(a) through 315(d) of
the Trust Indenture Act) shall be fully protected in relying upon, an Opinion of
Counsel to the following effect, which Opinion of Counsel may contain such
assumptions, qualifications and limitations as such counsel shall deem
appropriate:

          (a) the form or forms and terms of such Securities and Coupons, if
     any, have been established in conformity with Sections 201 and 301 of this
     Indenture;

          (b) all conditions precedent set forth in Sections 201, 301 and 303 of
     this Indenture to the authentication and delivery of such Securities and
     Coupons, if any, appertaining thereto have been complied with and that such
     Securities, and Coupons, when completed by appropriate insertions (if
     applicable), executed by duly authorized officers of the Company, delivered
     by duly authorized officers of the Company to the Trustee for
     authentication pursuant to this Indenture, and authenticated and delivered
     by the Trustee and issued by the Company in the manner and subject to any
     conditions specified in such Opinion of Counsel, will constitute valid and
     binding obligations of the Company, enforceable against the Company in
     accordance with their terms, except as enforcement thereof may be subject
     to or limited by bankruptcy, insolvency, reorganization, moratorium,
     arrangement, fraudulent conveyance, fraudulent transfer or other similar
     laws relating to or affecting creditors' rights generally, and subject to
     general principles of equity (regardless of whether enforcement is sought
     in a proceeding in equity or at law).

                                       25

<PAGE>

     If all the Securities of any series are not to be issued at one time, it
shall not be necessary to deliver an Opinion of Counsel at the time of issuance
of each Security, but such opinion, with such modifications as counsel shall
deem appropriate, shall be delivered at or before the time of issuance of the
first Security of such series. After any such first delivery, any separate
request by the Company that the Trustee authenticate Securities of such series
for original issue will be deemed to be a certification by the Company that all
conditions precedent provided for in this Indenture relating to authentication
and delivery of such Securities continue to have been complied with.

     The Trustee shall not be required to authenticate or to cause an
Authenticating Agent to authenticate any Securities if the issue of such
Securities pursuant to this Indenture will affect the Trustee's own rights,
duties or immunities under the Securities and this Indenture or otherwise in a
manner which is not reasonably acceptable to the Trustee or if the Trustee,
being advised by counsel, determines that such action may not lawfully be taken.

     Each Registered Security shall be dated the date of its authentication.
Each Bearer Security and any Bearer Security in global form shall be dated as of
the date specified in or pursuant to this Indenture.

     No Security or Coupon appertaining thereto 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 in Section 202 or 611 executed by or on behalf of the Trustee
or by the Authenticating Agent by the manual signature of one of its authorized
signatories. Such certificate upon any Security shall be conclusive evidence,
and the only evidence, that such Security has been duly authenticated and
delivered hereunder. Except as permitted by Section 306 or 307 or as may
otherwise be provided in or pursuant to this Indenture, the Trustee shall not
authenticate and deliver any Bearer Security unless all Coupons appertaining
thereto then matured have been detached and cancelled.

     Section 304. Temporary Securities.

     Pending the preparation of definitive Securities, the Company may execute
and deliver to the Trustee and, upon Company Order, the Trustee shall
authenticate and deliver, in the manner provided in Section 303, temporary
Securities in lieu thereof which are printed, lithographed, typewritten,
mimeographed or otherwise produced, in any authorized denomination,
substantially of the tenor of the definitive Securities in lieu of which they
are issued, in registered form or, if authorized in or pursuant to this
Indenture, in bearer form with one or more Coupons or without Coupons and with
such appropriate insertions, omissions, substitutions and other variations as
the officers of the Company executing such Securities may determine, as
conclusively evidenced by their execution of such Securities. Such temporary
Securities may be in global form.

     Except in the case of temporary Securities in global form, which shall be
exchanged in accordance with the provisions set forth in this Indenture or the
provisions established pursuant to Section 301, if temporary Securities are
issued, the Company shall cause definitive Securities to be prepared without
unreasonable delay. Except as otherwise provided in or pursuant to this
Indenture, after the preparation of definitive Securities of the same series and
containing terms and provisions that are identical to those of any temporary
Securities, such temporary Securities

                                       26

<PAGE>

shall be exchangeable for such definitive Securities upon surrender of such
temporary Securities at an Office or Agency for such Securities, without charge
to any Holder thereof. Except as otherwise provided in or pursuant to this
Indenture, upon surrender for cancellation of any one or more temporary
Securities (accompanied by any unmatured Coupons appertaining thereto), the
Company shall execute and the Trustee shall authenticate and deliver in exchange
therefor a like principal amount of definitive Securities of authorized
denominations of the same series and containing identical terms and provisions;
provided, however, that no definitive Bearer Security, except as provided in or
pursuant to this Indenture, shall be delivered in exchange for a temporary
Registered Security; and provided, further, that a definitive Bearer Security
shall be delivered in exchange for a temporary Bearer Security only in
compliance with the conditions set forth in or pursuant to this Indenture.
Unless otherwise provided in or pursuant to this Indenture with respect to a
temporary global Security, until so exchanged the temporary Securities of any
series shall in all respects be entitled to the same benefits under this
Indenture as definitive Securities of such series.

     Section 305. Registration, Transfer and Exchange.

     With respect to the Registered Securities of each series, if any, the
Company shall cause to be kept a register (each such register being herein
sometimes referred to as the "Security Register") at an Office or Agency for
such series in which, subject to such reasonable regulations as it may
prescribe, the Company shall provide for the registration of the Registered
Securities of such series and of transfers of the Registered Securities of such
series. Such Office or Agency shall be the "Security Registrar" for that series
of Securities. Unless otherwise specified in or pursuant to this Indenture or
the Securities, the initial Security Registrar for each series of Securities
shall be as specified in the last paragraph of Section 1002. The Company shall
have the right to remove and replace from time to time the Security Registrar
for any series of Securities; provided that no such removal or replacement shall
be effective until a successor Security Registrar with respect to such series of
Securities shall have been appointed by the Company and shall have accepted such
appointment. In the event that the Trustee shall not be or shall cease to be
Security Registrar with respect to a series of Securities, it shall have the
right to examine the Security Register for such series at all reasonable times.
There shall be only one Security Register for each series of Securities.

     Except as otherwise provided in or pursuant to this Indenture, upon
surrender for registration of transfer of any Registered Security of any series
at any Office or Agency for such series, the Company shall execute, and the
Trustee shall authenticate and deliver, in the name of the designated transferee
or transferees, one or more new Registered Securities of the same series
denominated as authorized in or pursuant to this Indenture, of a like aggregate
principal amount bearing a number not contemporaneously outstanding and
containing identical terms and provisions.

     Except as otherwise provided in or pursuant to this Indenture, at the
option of the Holder, Registered Securities of any series may be exchanged for
other Registered Securities of the same series containing identical terms and
provisions, in any authorized denominations, and of a like aggregate principal
amount, upon surrender of the Securities to be exchanged at any Office or Agency
for such series. Whenever any Registered Securities are so surrendered for
exchange,

                                       27

<PAGE>

the Company shall execute, and the Trustee shall authenticate and deliver, the
Registered Securities which the Holder making the exchange is entitled to
receive.

     If provided in or pursuant to this Indenture, with respect to Securities of
any series, at the option of the Holder, Bearer Securities of such series may be
exchanged for Registered Securities of such series containing identical terms,
denominated as authorized in or pursuant to this Indenture and in the same
aggregate principal amount, upon surrender of the Bearer Securities to be
exchanged at any Office or Agency for such series, with all unmatured Coupons
and all matured Coupons in default thereto appertaining. If the Holder of a
Bearer Security is unable to produce any such unmatured Coupon or Coupons or
matured Coupon or Coupons in default, such exchange may be effected if the
Bearer Securities are accompanied by payment in funds acceptable to the Company
and the Trustee in an amount equal to the face amount of such missing Coupon or
Coupons, or the surrender of such missing Coupon or Coupons may be waived by the
Company and the Trustee if there is furnished to them such security or indemnity
as they may require to save each of them and any Paying Agent harmless. If
thereafter the Holder of such Bearer Security shall surrender to any Paying
Agent any such missing Coupon in respect of which such a payment shall have been
made, such Holder shall be entitled to receive the amount of such payment;
provided, however, that, except as otherwise provided in Section 1002, interest
represented by Coupons shall be payable only upon presentation and surrender of
those Coupons at an Office or Agency for such series located outside the United
States. Notwithstanding the foregoing, in case a Bearer Security of any series
is surrendered at any such Office or Agency for such series in exchange for a
Registered Security of such series and like tenor after the close of business at
such Office or Agency on (i) any Regular Record Date and before the opening of
business at such Office or Agency on the relevant Interest Payment Date, or (ii)
any Special Record Date and before the opening of business at such Office or
Agency on the related date for payment of Defaulted Interest, such Bearer
Security shall be surrendered without the Coupon relating to such Interest
Payment Date or proposed date of payment, as the case may be (or, if such Coupon
is so surrendered with such Bearer Security, such Coupon shall be returned to
the Person so surrendering the Bearer Security), and interest or Defaulted
Interest, as the case may be, shall not be payable on such Interest Payment Date
or proposed date for payment, as the case may be, in respect of the Registered
Security issued in exchange for such Bearer Security, but shall be payable only
to the Holder of such Coupon when due in accordance with the provisions of this
Indenture.

     If provided in or pursuant to this Indenture with respect to Securities of
any series, at the option of the Holder, Registered Securities of such series
may be exchanged for Bearer Securities upon such terms and conditions as may be
provided in or pursuant to this Indenture with respect to such series.

     Whenever any Securities are surrendered for exchange as contemplated by the
immediately preceding two paragraphs, the Company shall execute, and the Trustee
shall authenticate and deliver, the Securities which the Holder making the
exchange is entitled to receive.

     Notwithstanding the foregoing, except as otherwise provided in or pursuant
to this Indenture, the global Securities of any series shall be exchangeable for
definitive certificated Securities of such series only if (i) the Depository for
such global Securities notifies the

                                       28

<PAGE>

Company that it is unwilling or unable to continue as a Depository for such
global Securities or at any time the Depository for such global Securities
ceases to be a clearing agency registered as such under the Exchange Act, if so
required by applicable law or regulation, and no successor Depository for such
Securities shall have been appointed within 90 days of such notification or of
the Company becoming aware of the Depository's ceasing to be so registered, as
the case may be, (ii) the Company, in its sole discretion, determines that the
Securities of such series shall no longer be represented by one or more global
Securities and executes and delivers to the Trustee a Company Order to the
effect that such global Securities shall be so exchangeable, or (iii) an Event
of Default has occurred and is continuing with respect to such Securities.

     If the beneficial owners of interests in a global Security are entitled to
exchange such interests for definitive Securities as the result of an event
described in clause (i), (ii) or (iii) of the preceding paragraph, then without
unnecessary delay but in any event not later than the earliest date on which
such interests may be so exchanged, the Company shall deliver to the Trustee
definitive Securities in such form and denominations as are required by or
pursuant to this Indenture, and of the same series, containing identical terms
and in aggregate principal amount equal to the principal amount of such global
Security, executed by the Company. On or after the earliest date on which such
interests may be so exchanged, such global Security shall be surrendered from
time to time by the Depository (or its custodian) as shall be specified in the
Company Order with respect thereto (which the Company agrees to deliver), and in
accordance with instructions given to the Trustee and the Depository (which
instructions shall be in writing but need not be contained in or accompanied by
an Officers' Certificate or be accompanied by an Opinion of Counsel), as shall
be specified in the Company Order with respect thereto to the Trustee, as the
Company's agent for such purpose, to be exchanged, in whole or in part, for
definitive Securities as described above without charge. The Trustee shall
authenticate and make available for delivery, in exchange for each portion of
such surrendered global Security, a like aggregate principal amount of
definitive Securities of the same series of authorized denominations and of like
tenor as the portion of such global Security to be exchanged, which (unless such
Securities are not issuable both as Bearer Securities and as Registered
Securities, in which case the definitive Securities exchanged for the global
Security shall be issuable only in the form in which the Securities are
issuable, as provided in or pursuant to this Indenture) shall be in the form of
Bearer Securities or Registered Securities, or any combination thereof, and
which shall be in such denominations and, in the case of Registered Securities,
registered in such names, as shall be specified by the Depository, but subject
to the satisfaction of any certification or other requirements to the issuance
of Bearer Securities; provided, however, that no such exchanges may occur during
a period beginning at the opening of business 15 days before any selection of
Securities of the same series to be redeemed and ending on the relevant
Redemption Date; and provided, further, that (unless otherwise provided in or
pursuant to this Indenture) no Bearer Security delivered in exchange for a
portion of a global Security shall be mailed or otherwise delivered to any
location in the United States. Promptly following any such exchange in part,
such global Security shall be returned by the Trustee to such Depository (or its
custodian) or such other Depository (or its custodian) referred to above in
accordance with the instructions of the Company referred to above, and the
Trustee shall endorse such global Security to reflect the decrease in the
principal amount thereof resulting from such exchange. If a Registered Security
is issued in exchange for any portion of a global Security after the close of
business at the Office or Agency for such Security where such exchange occurs on
or after (i) any Regular Record Date for such Security and before the opening of
business at such Office or Agency on

                                       29

<PAGE>

the next Interest Payment Date, or (ii) any Special Record Date for such
Security and before the opening of business at such Office or Agency on the
related proposed date for payment of interest or Defaulted Interest, as the case
may be, interest shall not be payable on such Interest Payment Date or proposed
date for payment, as the case may be, in respect of such Registered Security,
but shall be payable on such Interest Payment Date or proposed date for payment,
as the case may be, only to the Person to whom interest in respect of such
portion of such global Security shall be payable in accordance with the
provisions of this Indenture.

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

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

     No service charge shall be made for any registration of transfer or
exchange of Securities, or any redemption or repayment of Securities, or any
conversion or exchange of Securities for other types of securities or property,
but the Company may require payment of a sum sufficient to cover any tax or
other governmental charge that may be imposed in connection with any
registration of transfer or exchange of Securities, other than exchanges
pursuant to Section 304, 905 or 1107, upon repayment or repurchase in part of
any Registered Security pursuant to Article Thirteen, or upon surrender in part
of any Registered Security for conversion or exchange into Common Stock or other
securities or property pursuant to its terms, in each case not involving any
transfer.

     Except as otherwise provided in or pursuant to this Indenture, the Company
shall not be required (i) to issue, register the transfer of or exchange any
Securities during a period beginning at the opening of business 15 days before
the day of the selection for redemption of Securities of like tenor and terms
and of the same series under Section 1103 and ending at the close of business on
the day of such selection, or (ii) to register the transfer of or exchange any
Registered Security, or portion thereof, so selected for redemption, except in
the case of any Registered Security to be redeemed in part, the portion thereof
not to be redeemed, or (iii) to exchange any Bearer Security so selected for
redemption except, to the extent provided with respect to such Bearer Security,
that such Bearer Security may be exchanged for a Registered Security of like
tenor and terms and of the same series, provided that such Registered Security
shall be simultaneously surrendered for redemption with written instruction for
payment consistent with the provisions of this Indenture or (iv) to issue,
register the transfer of or exchange any Security which, in accordance with its
terms, has been surrendered for repayment at the option of the Holder pursuant
to Article Thirteen and not withdrawn, except the portion, if any, of such
Security not to be so repaid.

                                       30

<PAGE>

     Section 306. Mutilated, Destroyed, Lost and Stolen Securities.

     If any mutilated Security or a Security with a mutilated Coupon
appertaining to it is surrendered to the Trustee, subject to the provisions of
this Section 306, the Company shall execute and the Trustee shall authenticate
and deliver in exchange therefor a new Security of the same series containing
identical terms and of like principal amount and bearing a number not
contemporaneously outstanding, with Coupons appertaining thereto corresponding
to the Coupons, if any, appertaining to the surrendered Security.

     If there be delivered to the Company and to the Trustee (i) evidence to
their satisfaction of the destruction, loss or theft of any Security or Coupon,
and (ii) such security or indemnity as may be required by them to save each of
them and any agent of either of them harmless, then, in the absence of notice to
the Company or the Trustee that such Security or Coupon has been acquired by a
bona fide purchaser, the Company shall execute and, upon the Company's request
the Trustee shall authenticate and deliver, in exchange for or in lieu of any
such mutilated, destroyed, lost or stolen Security or in exchange for the
Security to which a destroyed, lost or stolen Coupon appertains with all
appurtenant Coupons not destroyed, lost or stolen, a new Security of the same
series containing identical terms and of like principal amount and bearing a
number not contemporaneously outstanding, with Coupons corresponding to the
Coupons, if any, appertaining to such destroyed, lost or stolen Security or to
the Security to which such destroyed, lost or stolen Coupon appertains.

     Notwithstanding the foregoing provisions of this Section 306, in case any
mutilated, destroyed, lost or stolen Security or Coupon has become or is about
to become due and payable, the Company in its discretion may, instead of issuing
a new Security, pay such Security or Coupon; provided, however, that payment of
principal of, any premium or interest on or any Additional Amounts with respect
to any Bearer Securities shall, except as otherwise provided in Section 1002, be
payable only at an Office or Agency for such Securities located outside the
United States and, unless otherwise provided in or pursuant to this Indenture,
any interest on Bearer Securities and any Additional Amounts with respect to
such interest shall be payable only upon presentation and surrender of the
Coupons appertaining thereto.

     Upon the issuance of any new Security under this Section, the Company may
require the payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in relation thereto and any other expenses (including
the fees and expenses of the Trustee) connected therewith.

     Every new Security, with any Coupons appertaining thereto issued pursuant
to this Section in lieu of any destroyed, lost or stolen Security, or in
exchange for a Security to which a destroyed, lost or stolen Coupon appertains
shall constitute a separate obligation of the Company, whether or not the
destroyed, lost or stolen Security and Coupons appertaining thereto or the
destroyed, lost or stolen Coupon shall be at any time enforceable by anyone, and
shall be entitled to all the benefits of this Indenture equally and
proportionately with any and all other Securities of such series and any
Coupons, if any, duly issued hereunder.

     The provisions of this Section, as amended or supplemented pursuant to this
Indenture with respect to particular Securities or generally, shall (to the
extent lawful) be exclusive and

                                       31

<PAGE>

shall preclude (to the extent lawful) all other rights and remedies with respect
to the replacement or payment of mutilated, destroyed, lost or stolen Securities
or Coupons.

     Section 307. Payment of Interest and Certain Additional Amounts; Rights to
Interest and Certain Additional Amounts Preserved.

     Unless otherwise provided in or pursuant to this Indenture, any interest on
and any Additional Amounts with respect to any Registered Security which shall
be payable, and are punctually paid or duly provided for, on any Interest
Payment Date shall be paid to the Person in whose name such Security (or one or
more Predecessor Securities) is registered as of the close of business on the
Regular Record Date for such interest. Unless otherwise provided in or pursuant
to this Indenture, in case a Bearer Security is surrendered in exchange for a
Registered Security after the close of business at an Office or Agency for such
Security on any Regular Record Date therefor and before the opening of business
at such Office or Agency on the next succeeding Interest Payment Date therefor,
such Bearer Security shall be surrendered without the Coupon relating to such
Interest Payment Date and interest shall not be payable on such Interest Payment
Date in respect of the Registered Security issued in exchange for such Bearer
Security, but shall be payable only to the Holder of such Coupon when due in
accordance with the provisions of this Indenture.

     Unless otherwise provided in or pursuant to this Indenture, any interest on
and any Additional Amounts with respect to any Registered Security which shall
be payable, but shall not be punctually paid or duly provided for, on any
Interest Payment Date for such Registered Security (herein called "Defaulted
Interest") shall forthwith cease to be payable to the Holder thereof on the
relevant Regular Record Date by virtue of having been such Holder; and such
Defaulted Interest may be paid by the Company, at its election in each case, as
provided in Clause (1) or (2) below:

          (1) The Company may elect to make payment of any Defaulted Interest to
     the Person in whose name such Registered Security (or a Predecessor
     Security thereof) shall be registered at the close of business on a Special
     Record Date for the payment of such Defaulted Interest, which shall be
     fixed in the following manner. The Company shall notify the Trustee in
     writing of the amount of Defaulted Interest proposed to be paid on such
     Registered Security and the date of the proposed payment, and at the same
     time the Company shall deposit with the Trustee an amount of money equal to
     the aggregate amount proposed to be paid in respect of such Defaulted
     Interest or shall make arrangements satisfactory to the Trustee for such
     deposit on or prior to the date of the proposed payment, such money when so
     deposited to be held in trust for the benefit of the Person entitled to
     such Defaulted Interest as in this Clause provided. Thereupon, the Trustee
     shall fix a Special Record Date for the payment of such Defaulted Interest
     which shall be not more than 15 days and not less than 10 days prior to the
     date of the proposed payment and not less than 10 days after the receipt by
     the Trustee of the notice of the proposed payment. The Trustee shall
     promptly notify the Company of such Special Record Date and, in the name
     and at the expense of the Company shall cause notice of the proposed
     payment of such Defaulted Interest and the Special Record Date therefor to
     be mailed, first-class postage prepaid, to the Holder of such Registered
     Security (or a Predecessor Security thereof) at his address as it appears
     in the Security Register not less

                                       32

<PAGE>

     than 10 days prior to such Special Record Date. The Trustee may, in its
     discretion, in the name and at the expense of the Company cause a similar
     notice to be published at least once in an Authorized Newspaper of general
     circulation in the Borough of Manhattan, The City of New York, but such
     publication shall not be a condition precedent to the establishment of such
     Special Record Date. Notice of the proposed payment of such Defaulted
     Interest and the Special Record Date therefor having been mailed as
     aforesaid, such Defaulted Interest shall be paid to the Person in whose
     name such Registered Security (or a Predecessor Security thereof) shall be
     registered at the close of business on such Special Record Date and shall
     no longer be payable pursuant to the following clause (2). In case a Bearer
     Security is surrendered at the Office or Agency for such Security in
     exchange for a Registered Security after the close of business at such
     Office or Agency on any Special Record Date and before the opening of
     business at such Office or Agency on the related proposed date for payment
     of Defaulted Interest, such Bearer Security shall be surrendered without
     the Coupon relating to such Defaulted Interest and Defaulted Interest shall
     not be payable on such proposed date of payment in respect of the
     Registered Security issued in exchange for such Bearer Security, but shall
     be payable only to the Holder of such Coupon when due in accordance with
     the provisions of this Indenture.

          (2) 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 such Security may be listed, and upon such
     notice as may be required by such exchange, if, after notice given by the
     Company to the Trustee of the proposed payment pursuant to this Clause,
     such payment shall be deemed practicable by the Trustee.

     Unless otherwise provided in or pursuant to this Indenture or the
Securities of any particular series, at the option of the Company, interest on
Registered Securities that bear interest may be paid by mailing a check to the
address of the Person entitled thereto as such address shall appear in the
Security Register or by transfer to an account maintained by the payee with a
bank located in the United States of America.

     Subject to the foregoing provisions of this Section and Section 305, 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, which were carried by such other Security.

     Section 308. Persons Deemed Owners.

     Prior to due presentment of a Registered 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 Registered Security is registered in the
Security Register as the owner of such Registered Security for the purpose of
receiving payment of principal of, any premium and (subject to Sections 305 and
307) interest on and any Additional Amounts with respect to such Registered
Security and for all other purposes whatsoever, whether or not any payment with
respect to such Registered Security shall be overdue, and neither the Company,
the Trustee or any agent of the Company or the Trustee shall be affected by
notice to the contrary.

                                       33

<PAGE>

     The Company, the Trustee and any agent of the Company or the Trustee may
treat the bearer of any Bearer Security or the bearer of any Coupon as the
absolute owner of such Security or Coupon for the purpose of receiving payment
thereof or on account thereof and for all other purposes whatsoever, whether or
not any payment with respect to such Security or Coupon shall be overdue, and
neither the Company, the Trustee or any agent of the Company or the Trustee
shall be affected by notice to the contrary.

     No holder of any beneficial interest in any global Security held on its
behalf by a Depository shall have any rights under this Indenture with respect
to such global Security, and such Depository may be treated by the Company, the
Trustee, and any agent of the Company or the Trustee as the owner of such global
Security for all purposes whatsoever. None of the Company, the Trustee, any
Paying Agent or the 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 global Security or for maintaining,
supervising or reviewing any records relating to such beneficial ownership
interests.

     Notwithstanding the foregoing, nothing herein shall prevent the Company,
the Trustee, any Paying Agent or the Security Registrar from giving effect to
any written certification, proxy or other authorization furnished by the
applicable Depository, as a Holder, with respect to a global Security or impair,
as between such Depository and the owners of beneficial interests in such global
Security, the operation of customary practices governing the exercise of the
rights of such Depository (or its nominee) as the Holder of such global
Security.

     Section 309. Cancellation.

     All Securities and Coupons surrendered for payment, redemption,
registration of transfer, exchange or conversion or for credit against any
sinking fund payment shall, if surrendered to any Person other than the Trustee,
be delivered to the Trustee, and any such Securities and Coupons, as well as
Securities and Coupons surrendered directly to the Trustee for any such purpose,
shall be cancelled promptly by the Trustee. The Company may at any time deliver
to the Trustee for cancellation any Securities previously authenticated and
delivered hereunder which the Company may have acquired in any manner
whatsoever, and all Securities so delivered shall be 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, except as expressly permitted
by or pursuant to this Indenture. All cancelled Securities and Coupons held by
the Trustee shall be destroyed by the Trustee, unless by a Company Order the
Company directs their return to it.

     Section 310. Computation of Interest.

     Except as otherwise provided in or pursuant to this Indenture or in the
Securities of any series, interest on the Securities shall be computed on the
basis of a 360-day year of twelve 30-day months.

                                       34
<PAGE>

                                  ARTICLE FOUR

                     SATISFACTION AND DISCHARGE OF INDENTURE

     Section 401. Satisfaction and Discharge.

     Unless, pursuant to Section 301, the provisions of this Section 401 shall
not be applicable with respect to the Securities of any series, upon the
direction of the Company by a Company Order, this Indenture shall cease to be of
further effect with respect to any series of Securities specified in such
Company Order and any Coupons appertaining thereto, and the Trustee, on receipt
of a Company Order, at the expense of the Company, shall execute proper
instruments acknowledging satisfaction and discharge of this Indenture as to
such series, when

          (1) either

               (a) all Securities of such series theretofore authenticated and
          delivered and all Coupons appertaining thereto (other than (i) Coupons
          appertaining to Bearer Securities of such series surrendered in
          exchange for Registered Securities of such series and maturing after
          such exchange whose surrender is not required or has been waived as
          provided in Section 305, (ii) Securities and Coupons of such series
          which have been destroyed, lost or stolen and which have been replaced
          or paid as provided in Section 306, (iii) Coupons appertaining to
          Securities of such series called for redemption and maturing after the
          relevant Redemption Date whose surrender has been waived as provided
          in Section 1106, and (iv) Securities and Coupons 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
          1003) have been delivered to the Trustee for cancellation; or

               (b) all Securities of such series and, in the case of (i) or (ii)
          below, if applicable, any Coupons appertaining thereto not theretofore
          delivered to the Trustee for cancellation

                    (i) have become due and payable, or

                    (ii) will become due and payable at their Stated Maturity
               within one year, or

                    (iii) if redeemable at the option of the Company, are to be
               called for redemption within one year under arrangements
               satisfactory to the Trustee for the giving of notice of
               redemption by the Trustee in the name, and at the expense, of the
               Company,

          and the Company, in the case of (i), (ii) or (iii) above, has
          deposited or caused to be deposited with the Trustee as trust funds in
          trust for such purpose, money in the Currency in which such Securities
          are payable in an amount sufficient to pay and discharge the entire
          indebtedness on such Securities and any Coupons appertaining thereto
          not theretofore delivered to the Trustee for cancellation,

                                       35

<PAGE>

          including the principal of, any premium and interest on, and, to the
          extent that the Securities of such series provide for the payment of
          Additional Amounts thereon and the amount of any such Additional
          Amounts which are or will be payable with respect to the Securities of
          such series is at the time of deposit determinable by the Company (in
          the exercise by the Company of its reasonable discretion), any
          Additional Amounts with respect to, such Securities and any Coupons
          appertaining thereto, to the date of such deposit (in the case of
          Securities which have become due and payable) or to the Maturity
          thereof, as the case may be;

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

          (3) 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 as to such series have been complied with.

     In the event there are Securities of two or more series Outstanding
hereunder, the Trustee shall be required to execute an instrument acknowledging
satisfaction and discharge of this Indenture only if requested to do so with
respect to Securities of such series as to which it is Trustee and if the other
conditions thereto are met.

     Notwithstanding the satisfaction and discharge of this Indenture with
respect to any series of Securities, the obligations of the Company to the
Trustee under Section 606 and, if money shall have been deposited with the
Trustee pursuant to subclause (b) of clause (1) of this Section, the obligations
of the Company and the Trustee with respect to the Securities of such series
under Sections 305, 306, 403, 404, 1002, 1003 and, if applicable to the
Securities of such series, 1004 (including, without limitation, with respect to
the payment of Additional Amounts, if any, with respect to such Securities as
contemplated by Section 1004, but only to the extent that the Additional Amounts
payable with respect to such Securities exceed the amount deposited in respect
of such Additional Amounts pursuant to Section 401(1)(b)), any rights of Holders
of the Securities of such series (unless otherwise provided pursuant to Section
301 with respect to the Securities of such series) to require the Company to
repurchase or repay, and the obligations of the Company to repurchase or repay,
such Securities at the option of the Holders pursuant to Article Thirteen
hereof, and any rights of Holders of the Securities of such series (unless
otherwise provided pursuant to Section 301 with respect to the Securities of
such series) to convert or exchange, and the obligations of the Company to
convert or exchange, such Securities into Common Stock or other securities or
property, shall survive.

     Section 402. Defeasance and Covenant Defeasance.

     (1) Unless, pursuant to Section 301, either or both of (i) defeasance of
the Securities of or within a series under clause (2) of this Section 402 or
(ii) covenant defeasance of the Securities of or within a series under clause
(3) of this Section 402 shall not be applicable with respect to the Securities
of such series, then such provisions, together with the other provisions of this
Section 402 (with such modifications thereto as may be specified pursuant to
Section 301

                                       36

<PAGE>

with respect to any Securities), shall be applicable to such Securities and any
Coupons appertaining thereto, and the Company may at its option by Board
Resolution, at any time, with respect to the Securities of or within such series
and any Coupons appertaining thereto, elect to have Section 402(2) or Section
402(3) be applied to such Outstanding Securities and any Coupons appertaining
thereto upon compliance with the conditions set forth below in this Section 402.
Unless otherwise specified pursuant to Section 301 with respect to the
Securities of any series, defeasance under clause (2) of this Section 402 and
covenant defeasance under clause (3) of this Section 402 may be effected only
with respect to all, and not less than all, of the Outstanding Securities of any
series. To the extent that the terms of any Security or Coupon appertaining
thereto established in or pursuant to this Indenture permit the Company or any
Holder thereof to extend the date on which any payment of principal of, or
premium, if any, or interest, if any, on, or Additional Amounts, if any, with
respect to such Security or Coupon is due and payable, then unless otherwise
provided pursuant to Section 301, the right to extend such date shall terminate
upon defeasance or covenant defeasance, as the case may be.

     (2) Upon the Company's exercise of the above option applicable to this
Section 402(2) with respect to any Securities of or within a series, the Company
shall be deemed to have been discharged from its obligations with respect to
such Outstanding Securities and any Coupons appertaining thereto on the date the
conditions set forth in clause (4) of this Section 402 are satisfied
(hereinafter, "defeasance"). For this purpose, such defeasance means that the
Company shall be deemed to have paid and discharged the entire indebtedness
represented by such Outstanding Securities and any Coupons appertaining thereto,
which shall thereafter be deemed to be "Outstanding" only for the purposes of
clause (5) of this Section 402 and the other Sections of this Indenture referred
to in clauses (i) through (iv) of this paragraph, and to have satisfied all of
its other obligations under such Securities and any Coupons appertaining thereto
and this Indenture insofar as such Securities and any Coupons appertaining
thereto are concerned (and the Trustee, at the expense of the Company , shall
execute proper instruments acknowledging the same), except for the following
which shall survive until otherwise terminated or discharged hereunder: (i) the
rights of Holders of such Outstanding Securities and any Coupons appertaining
thereto to receive, solely (except as provided in clause (ii) below) from the
trust fund described in clause (4)(a) of this Section 402 and as more fully set
forth in this Section 402 and 403, payments in respect of the principal of (and
premium, if any) and interest, if any, on, and Additional Amounts, if any, with
respect to, such Securities and any Coupons appertaining thereto when such
payments are due, (ii) the obligations of the Company and the Trustee with
respect to such Securities under Sections 305, 306, 1002, 1003 and, if
applicable to the Securities of such series, 1004 (including, without
limitation, with respect to the payment of Additional Amounts, if any, with
respect to such Securities as contemplated by Section 1004, but only to the
extent that the Additional Amounts payable with respect to such Securities
exceed the amount deposited in respect of such Additional Amounts pursuant to
clause (4)(a) of this Section 402), any rights of Holders of such Securities
(unless otherwise provided pursuant to Section 301 with respect to the
Securities of such series) to require the Company to repurchase or repay, and
the obligations of the Company to repurchase or repay, such Securities at the
option of the Holders pursuant to Article Thirteen hereof, and any rights of
Holders of such Securities (unless otherwise provided pursuant to Section 301
with respect to the Securities of such series) to convert or exchange, and the
obligations of the Company to convert or exchange, such Securities into Common
Stock or other securities or property, (iii) the rights, powers, trusts, duties
and immunities of the Trustee hereunder and (iv) this Section 402 and Sections
403 and

                                       37

<PAGE>

404. The Company may exercise its option under this Section 402(2)
notwithstanding the prior exercise of its option under Section 402(3) with
respect to such Securities and any Coupons appertaining thereto.

     (3) Upon the Company's exercise of the above option applicable to this
Section 402(3) with respect to any Securities of or within a series, the Company
shall be released from its obligations under clauses (ii) and (iii) of Section
1005 and under Sections 1006 and 1007 and, to the extent specified pursuant to
Section 301, any other covenant applicable to such Securities with respect to
such Securities and any Coupons appertaining thereto and the provisions set
forth in Section 501(5) shall cease to be applicable to such Securities on and
after the date the conditions set forth in clause (4) of this Section 402 are
satisfied (hereinafter, "covenant defeasance"), and such Securities and any
Coupons appertaining thereto shall thereafter be deemed to be not "Outstanding"
for the purposes of any direction, waiver, consent or declaration or Act of
Holders (and the consequences of any thereof) in connection with any such
covenant or with respect to any Event of Default set forth in Section 501(5),
but shall continue to be deemed "Outstanding" for all other purposes hereunder.
For this purpose, such covenant defeasance means that (i) with respect to such
Outstanding Securities and any Coupons appertaining thereto, the Company may
omit to comply with, and shall have no liability in respect of, any term,
condition or limitation set forth in any such Section or any such other
covenant, whether directly or indirectly, by reason of any reference elsewhere
herein to any such Section or such other covenant or by reason of reference in
any such Section or such other covenant to any other provision herein or in any
other document and such omission to comply shall not constitute a default or an
Event of Default under Section 501(4) or 501(9) or otherwise, as the case may
be, and (ii) the occurrence of any event or condition specified in Section
501(5) shall not constitute an Event of Default with respect to such Outstanding
Securities, but, except as specified above, the remainder of this Indenture and
such Securities and Coupons appertaining thereto shall be unaffected thereby.

     (4) The following shall be the conditions to application of clause (2) or
(3) of this Section 402 to any Outstanding Securities of or within a series and
any Coupons appertaining thereto:

          (a) The Company shall irrevocably have deposited or caused to be
     deposited with the Trustee (or another trustee satisfying the requirements
     of Section 607 who shall agree to comply with the provisions of this
     Section 402 applicable to it) as trust funds in trust for the purpose of
     making the following payments, specifically pledged as security for, and
     dedicated solely to, the benefit of the Holders of such Securities and any
     Coupons appertaining thereto, (1) an amount in Dollars or in such Foreign
     Currency in which such Securities and any Coupons appertaining thereto are
     then specified as payable at Stated Maturity or, if such defeasance or
     covenant defeasance is to be effected in compliance with subsection (f)
     below, on the relevant Redemption Date, as the case may be, or (2)
     Government Obligations applicable to such Securities and Coupons
     appertaining thereto (determined on the basis of the Currency in which such
     Securities and Coupons appertaining thereto are then specified as payable
     at Stated Maturity or, if such defeasance or covenant defeasance is to be
     effected in compliance with subsection (f) below, on the relevant
     Redemption Date, as the case may be) which through the scheduled payment of
     principal and interest in respect thereof in accordance

                                       38

<PAGE>

     with their terms will provide, not later than one day before the due date
     of any payment of principal of (and premium, if any) and interest, if any,
     on such Securities and any Coupons appertaining thereto, money in an
     amount, or (3) a combination thereof, in any case, in an amount,
     sufficient, without consideration of any reinvestment of such principal and
     interest, 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, and which shall be applied by the
     Trustee (or other qualifying trustee) to pay and discharge, (y) the
     principal of (and premium, if any) and interest, if any, on, and, to the
     extent that such Securities provide for the payment of Additional Amounts
     thereon and the amount of any such Additional Amounts which are or will be
     payable with respect to the Securities of such series is at the time of
     deposit determinable by the Company (in the exercise by the Company of its
     reasonable discretion), any Additional Amounts with respect to, such
     Outstanding Securities and any Coupons appertaining thereto on the Stated
     Maturity of such principal or installment of principal or interest or the
     applicable Redemption Date, as the case may be, and (z) any mandatory
     sinking fund payments or analogous payments applicable to such Outstanding
     Securities and any Coupons appertaining thereto on the day on which such
     payments are due and payable in accordance with the terms of this Indenture
     and of such Securities and any Coupons appertaining thereto.

          (b) Such defeasance or covenant defeasance shall not result in a
     breach or violation of, or constitute a default under, this Indenture or
     any other material agreement or instrument to which the Company or any
     Subsidiary is a party or by which it is bound.

          (c) No Event of Default or event which with notice or lapse of time or
     both would become an Event of Default with respect to such Securities and
     any Coupons appertaining thereto shall have occurred and be continuing on
     the date of such deposit, and, solely in the case of defeasance under
     Section 402(2), no Event of Default with respect to such Securities and any
     Coupons appertaining thereto under clause (6) or (7) of Section 501 or
     event which with notice or lapse of time or both would become an Event of
     Default with respect to such Securities and any Coupons appertaining
     thereto under clause (6) or (7) of Section 501 shall have occurred and be
     continuing at any time during the period ending on and including the 91st
     day after the date of such deposit (it being understood that this condition
     to defeasance under Section 402(2) shall not be deemed satisfied until the
     expiration of such period).

          (d) In the case of defeasance pursuant to Section 402(2), the Company
     shall have delivered to the Trustee an opinion of independent counsel
     reasonably acceptable to the Trustee stating that (x) the Company has
     received from, or there has been published by, the Internal Revenue Service
     a ruling, or (y) since the date of this Indenture there has been a change
     in applicable federal income tax law, in either case to the effect that,
     and based thereon such opinion of independent counsel shall confirm that,
     the Holders of such Outstanding Securities and any Coupons appertaining
     thereto will not recognize income, gain or loss for federal income tax
     purposes as a result of such defeasance and will be subject to federal
     income tax on the same amounts, in the same manner and at the same times as
     would have been the case if such defeasance had not occurred; or, in the
     case of covenant defeasance pursuant to Section 402(3), the Company shall
     have

                                       39

<PAGE>

     delivered to the Trustee an opinion of independent counsel reasonably
     acceptable to the Trustee to the effect that the Holders of such
     Outstanding Securities and any Coupons appertaining thereto will not
     recognize income, gain or loss for federal income tax purposes as a result
     of such covenant defeasance and will be subject to federal income tax on
     the same amounts, in the same manner and at the same times as would have
     been the case if such covenant defeasance had not occurred.

          (e) The Company shall have delivered to the Trustee an Officers'
     Certificate and an Opinion of Counsel, each stating that all conditions
     precedent to the defeasance or covenant defeasance, as the case may be,
     under this Indenture have been complied with.

          (f) If the monies or Government Obligations or combination thereof, as
     the case may be, deposited under clause (a) above are sufficient to pay the
     principal of, and premium, if any, and interest, if any, on and, to the
     extent provided in such clause (a), Additional Amounts with respect to,
     such Securities provided such Securities are redeemed on a particular
     Redemption Date, the Company shall have given the Trustee irrevocable
     instructions to redeem such Securities on such date and to provide notice
     of such redemption to Holders as provided in or pursuant to this Indenture.

          (g) Notwithstanding any other provisions of this Section 402(4), such
     defeasance or covenant defeasance shall be effected in compliance with any
     additional or substitute terms, conditions or limitations which may be
     imposed on the Company in connection therewith pursuant to Section 301.

     (5) Subject to the provisions of the last paragraph of Section 1003, all
money and Government Obligations (or other property as may be provided pursuant
to Section 301) (including the proceeds thereof) deposited with the Trustee (or
other qualifying trustee--collectively for purposes of this Section 402(5) and
Section 403, the "Trustee") pursuant to clause (4)(a) of Section 402 in respect
of any Outstanding Securities of any series and any Coupons appertaining thereto
shall be held in trust and applied by the Trustee, in accordance with the
provisions of such Securities and any Coupons appertaining thereto and this
Indenture, to the payment, either directly or through any Paying Agent (other
than the Company or any Subsidiary or Affiliate of the Company acting as Paying
Agent) as the Trustee may determine, to the Holders of such Securities and any
Coupons appertaining thereto of all sums due and to become due thereon in
respect of principal (and premium, if any) and interest and Additional Amounts,
if any, but such money need not be segregated from other funds except to the
extent required by law.

     Unless otherwise specified in or pursuant to this Indenture or any
Securities, if, after a deposit referred to in Section 402(4)(a) has been made,
(a) the Holder of a Security in respect of which such deposit was made is
entitled to, and does, elect pursuant to Section 301 or the terms of such
Security to receive payment in a Currency other than that in which the deposit
pursuant to Section 402(4)(a) has been made in respect of such Security, or (b)
a Conversion Event occurs in respect of the Foreign Currency in which the
deposit pursuant to Section 402(4)(a) has been made, the indebtedness
represented by such Security and any Coupons appertaining thereto shall be
deemed to have been, and will be, fully discharged and satisfied through the
payment of the principal of (and premium, if any), and interest, if any, on, and
Additional Amounts, if any, with

                                       40

<PAGE>

respect to, such Security as the same becomes due out of the proceeds yielded by
converting (from time to time as specified below in the case of any such
election) the amount or other property deposited in respect of such Security
into the Currency in which such Security becomes payable as a result of such
election or Conversion Event based on (x) in the case of payments made pursuant
to clause (a) above, the applicable market exchange rate for such Currency in
effect on the second Business Day prior to each payment date, or (y) with
respect to a Conversion Event, the applicable market exchange rate for such
Foreign Currency in effect (as nearly as feasible) at the time of the Conversion
Event.

     The Company shall pay and indemnify the Trustee against any tax, fee or
other charge, imposed on or assessed against the Government Obligations
deposited pursuant to this Section 402 or the principal or 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 such Outstanding Securities and any Coupons
appertaining thereto.

     Anything in this Section 402 to the contrary notwithstanding, the Trustee
shall deliver or pay to the Company from time to time upon Company Request any
money or Government Obligations (or other property and any proceeds therefrom)
held by it as provided in clause (4)(a) of this Section 402 which, in the
opinion of a nationally recognized firm of independent public accountants
expressed in a written certification thereof delivered to the Trustee, are in
excess of the amount thereof which would then be required to be deposited to
effect a defeasance or covenant defeasance, as applicable, in accordance with
this Section 402.

     Section 403. Application of Trust Money.

     Subject to the provisions of the last paragraph of Section 1003, all money
and Government Obligations deposited with the Trustee pursuant to Section 401 or
402 shall be held in trust and applied by it, in accordance with the provisions
of the Securities, the Coupons and this Indenture, to the payment, either
directly or through any Paying Agent (including the Company acting as its own
Paying Agent) as the Trustee may determine, to the Persons entitled thereto, of
the principal, premium, interest and Additional Amounts for whose payment such
money has or Government Obligations have been deposited with or received by the
Trustee; but such money and Government Obligations need not be segregated from
other funds except to the extent required by law.

     Section 404. Reinstatement.

     If the Trustee (or other qualifying trustee appointed pursuant to Section
402(4)(a)) or any Paying Agent is unable to apply any moneys or Government
Obligations deposited pursuant to Section 401(1) or 402(4)(a) to pay any
principal of or premium, if any, or interest, if any, on or Additional Amounts,
if any, with respect to the Securities of any series by reason of any legal
proceeding or any order or judgment of any court or governmental authority
enjoining, restraining or otherwise prohibiting such application, then the
Company's obligations under this Indenture and the Securities of such series
shall be revived and reinstated as though no such deposit had occurred, until
such time as the Trustee (or other qualifying trustee) or Paying Agent is
permitted to apply all such moneys and Government Obligations to pay the
principal of and premium, if any, and interest, if any, on and Additional
Amounts, if any, in respect of the

                                       41

<PAGE>

Securities of such series as contemplated by Sections 401 or 402 as the case may
be, and Section 403; provided, however, that if the Company makes any payment of
the principal of or premium, if any, or interest if any, on or Additional
Amounts, if any, in respect of the Securities of such series following the
reinstatement of its obligations as aforesaid, the Company shall be subrogated
to the rights of the Holders of such Securities to receive such payment from the
funds held by the Trustee (or other qualifying trustee) or Paying Agent.

     Section 405. Effect on Subordination Provisions.

     Unless otherwise expressly provided pursuant to Section 301 with respect to
the Securities of any series, the provisions of Article Sixteen hereof, insofar
as they pertain to the Securities of such series, and the Subordination
Provisions established pursuant to Section 301(25) with respect to such series
are hereby expressly made subject to the provisions for satisfaction and
discharge set forth in Section 401 hereof and the provisions for defeasance and
covenant defeasance set forth in Section 402 hereof and, anything herein to the
contrary notwithstanding, upon the effectiveness of such satisfaction and
discharge pursuant to Section 401 with respect to the Securities of such series
or any such defeasance or covenant defeasance pursuant to Section 402 with
respect to the Securities of or within such series, all of the Securities of
such series (in the case of satisfaction and discharge pursuant to Section 401)
or the Securities of such series as to which defeasance or covenant defeasance,
as the case may be, shall have become effective shall thereupon cease to be so
subordinated and shall no longer be subject to the provisions of Article Sixteen
or the Subordination Provisions established pursuant to Section 301(25) with
respect to such Securities and, without limitation to the foregoing, all moneys,
Government Obligations and other securities or property deposited with the
Trustee (or other qualifying trustee) in trust in connection with such
satisfaction and discharge, defeasance or covenant defeasance, as the case may
be, and all proceeds therefrom may be applied to pay the principal of, premium,
if any, and interest, if any, on, and Additional Amounts, if any, with respect
to such Securities as and when the same shall become due and payable
notwithstanding the provisions of Article Sixteen or such Subordination
Provisions.

                                  ARTICLE FIVE

                                    REMEDIES

     Section 501. Events of Default.

     "Event of Default", wherever used herein with respect to Securities of any
series, means any one of the following events (whatever the reason for such
Event of Default and whether it shall be 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 specifically deleted or modified in or pursuant to the
supplemental indenture, Board Resolution or Officers' Certificate establishing
the terms of such series pursuant to this Indenture:

          (1) default in the payment of any interest on, or any Additional
     Amounts payable in respect of any interest on, any of the Securities of
     such series or any Coupon

                                       42

<PAGE>

     appertaining thereto when such interest or such Additional Amounts, as the
     case may be, become due and payable (whether or not such payment is
     prohibited by the Subordination Provisions applicable thereto), and
     continuance of such default for a period of 30 days; or

          (2) default in the payment of any principal of or premium, if any, on,
     or any Additional Amounts payable in respect of any principal of or
     premium, if any, on, any of the Securities of such series when due (whether
     at Maturity or otherwise and whether payable in cash or in shares of Common
     Stock or other securities or property), whether or not such payment is
     prohibited by the Subordination Provisions applicable thereto; or

          (3) default in the deposit of any sinking fund payment or payment
     under any analogous provision when due with respect to any of the
     Securities of such series (whether or not such deposit or payment is
     prohibited by the Subordination Provisions applicable thereto); or

          (4) default in the performance, or breach, of any covenant or warranty
     of the Company in this Indenture or any Security of such series (other than
     a covenant or warranty for which the consequences of breach or
     nonperformance are addressed elsewhere in this Section 501 or a covenant or
     warranty which has expressly been included in this Indenture, whether or
     not by means of a supplemental indenture, solely for the benefit of
     Securities of a series other than such series), and continuance of such
     default or breach (without such default or breach having been waived in
     accordance of the provisions of this Indenture) for a period of 60 days
     after there has been given, by registered or certified mail, to the Company
     by the Trustee or to the Company and the Trustee by the Holders of at least
     25% in principal amount of 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

          (5) default under any instrument evidencing or securing any
     Indebtedness (other than Non-Recourse Land Financing) of the Company or any
     Restricted Subsidiary aggregating $_____ or more in aggregate principal
     amount, resulting in the acceleration of such Indebtedness, or due to the
     failure to pay such Indebtedness at maturity; or

          (6) the entry by a court having jurisdiction in the premises of (A) a
     decree or order for relief in respect of the Company or any Significant
     Subsidiary of the Company in an involuntary case or proceeding under any
     applicable Federal or State bankruptcy, insolvency, reorganization or other
     similar law or (B) a decree or order adjudging the Company or any
     Significant Subsidiary of the Company a bankrupt or insolvent, or approving
     as properly filed a petition seeking reorganization, arrangement,
     adjustment or composition of or in respect of the Company or any
     Significant Subsidiary of the Company under any applicable Federal or State
     law, or appointing a custodian, receiver, conservator, liquidator,
     assignee, trustee, sequestrator or other similar official of the Company or
     any Significant Subsidiary of the Company or of any substantial part of the
     property of the Company or any Significant Subsidiary of the Company, or
     ordering the winding up or liquidation of the affairs of the Company or any
     Significant Subsidiary of the Company, and the continuance of any such
     decree or order for relief unstayed and in effect for a period of 60
     consecutive days; or

                                       43

<PAGE>

          (7) the commencement by the Company or any Significant Subsidiary of
     the Company of a voluntary case or proceeding under any applicable Federal
     or State bankruptcy, insolvency, reorganization or other similar law or of
     any other case or proceeding to be adjudicated a bankrupt or insolvent, or
     the consent by the Company or any Significant Subsidiary of the Company to
     the entry of a decree or order for relief in respect of the Company or any
     Significant Subsidiary of the Company in an involuntary case or proceeding
     under any applicable Federal or State bankruptcy, insolvency,
     reorganization or other similar law or to the commencement of any
     bankruptcy or insolvency case or proceeding against the Company or any
     Significant Subsidiary of the Company, or the filing by the Company or any
     Significant Subsidiary of the Company of a petition or answer or consent
     seeking reorganization or relief under any applicable Federal or State law,
     or the consent by the Company or any Significant Subsidiary of the Company
     to the filing of such petition or to the appointment of or taking
     possession by a custodian, receiver, conservator, liquidator, assignee,
     trustee, sequestrator or similar official of the Company or any Significant
     Subsidiary of the Company or of any substantial part of the property of the
     Company or any Significant Subsidiary of the Company, or the making by the
     Company or any Significant Subsidiary of the Company of an assignment for
     the benefit of creditors, or the taking of corporate action by the Company
     or any Significant Subsidiary of the Company in furtherance of any such
     action; or

          (8) default in the delivery of any shares of Common Stock, together
     with cash in lieu of fractional shares, or any other securities or property
     (including cash) when required to be delivered upon conversion of any
     convertible Security of such series or upon the exchange of any Security of
     such series which is exchangeable for other securities or property (whether
     or not such delivery is prohibited by the Subordination Provisions
     applicable thereto); and continuance of such default for a period of 10
     days; or

          (9) any other Event of Default provided in or pursuant to this
     Indenture with respect to Securities of such series.

     Section 502. Acceleration of Maturity; Rescission and Annulment.

     If an Event of Default (other than an Event of Default specified in clause
(6) or (7) of Section 501) with respect to Securities of any series occurs and
is continuing, then either the Trustee or the Holders of not less than 25% in
aggregate principal amount of the Outstanding Securities of such series may
declare the principal of all the Securities of such series, or such lesser
amount as may be provided for in the Securities of such series, and accrued and
unpaid interest, if any, thereon to be due and payable immediately, by a notice
in writing to the Company (and to the Trustee if given by the Holders), and upon
any such declaration such principal or such lesser amount, as the case may be,
and such accrued and unpaid interest shall become immediately due and payable.
If an Event of Default specified in clause (6) or (7) of Section 501 with
respect to the Securities of any series occurs, then the principal of all of the
Securities of such series, or such lesser amount as may be provided for in the
Securities of such series, and accrued an unpaid interest, if any, thereon shall
ipso facto become and be immediately due and payable without any declaration or
other act on the part of the Trustee or any Holder of the Securities of such
series.

                                       44

<PAGE>

     At any time after Securities of any series have been accelerated (whether
by declaration of the Trustee or the Holders or automatically) 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 not less than 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

          (1) the Company has paid or deposited with the Trustee a sum of money
     sufficient to pay (or, to the extent that the terms of the Securities of
     such series established pursuant to Section 301 expressly provide for
     payment to be made in shares of Common Stock or other securities or
     property, shares of Common Stock or other securities or property, together
     with cash in lieu of fractional shares or securities, sufficient to pay)

               (a) all overdue installments of any interest on any Securities of
          such series and any Coupons appertaining thereto which have become due
          otherwise than by such declaration of acceleration and any Additional
          Amounts with respect thereto,

               (b) the principal of and any premium on any Securities of such
          series which have become due otherwise than by such declaration of
          acceleration and any Additional Amounts with respect thereto and, to
          the extent permitted by applicable law, interest thereon at the rate
          or respective rates, as the case may be, provided for in or with
          respect to such Securities, or, if no such rate or rates are so
          provided, at the rate or respective rates, as the case may be, of
          interest borne by such Securities,

               (c) to the extent permitted by applicable law, interest upon
          installments of any interest, if any, which have become due otherwise
          than by such declaration of acceleration and any Additional Amounts
          with respect thereto at the rate or respective rates, as the case may
          be, provided for in or with respect to such Securities, or, if no such
          rate or rates are so provided, at the rate or respective rates, as the
          case may be, of interest borne by such Securities, and

               (d) all sums paid or advanced by the Trustee hereunder and the
          reasonable compensation, expenses, disbursements and advances of the
          Trustee, its agents and counsel and all other amounts due the Trustee
          under Section 606; and

          (2) all Events of Default with respect to Securities of such series
     other than the non-payment of the principal of, any premium and interest
     on, and any Additional Amounts with respect to Securities of such series
     which shall have become due solely by such declaration of acceleration,
     shall have been cured or waived as provided in Section 513.

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

                                       45

<PAGE>

     Notwithstanding the preceding paragraph, in the event of a declaration of
acceleration in respect of the Securities because of an Event of Default
specified in Section 501(5) shall have occurred and be continuing, such
declaration of acceleration shall be automatically annulled if the Indebtedness
that is the subject of such Event of Default has been discharged or the holders
thereof have rescinded their declaration of acceleration in respect of such
Indebtedness, and written notice of such discharge or rescission, as the case
may be, shall have been given to the Trustee by the Company and countersigned by
the holders of such Indebtedness or a trustee, fiduciary or agent for such
holders, within 60 days after such declaration of acceleration in respect of the
Securities, and no other Event of Default has occurred during such 60-day period
which has not been cured or waived during such period.

     For all purposes under this Indenture, if a portion of the principal of any
Original Issue Discount Securities shall have been accelerated and declared due
and payable pursuant to the provisions hereof, then, from and after such
declaration, unless such declaration has been rescinded and annulled, the
principal amount of such Original Issue Discount Securities shall be deemed, for
all purposes hereunder, to be such portion of the principal thereof as shall be
due and payable as a result of such acceleration, and payment of such portion of
the principal thereof as shall be due and payable as a result of such
acceleration, together with interest, if any, thereon and all other amounts
owing thereunder, shall constitute payment in full of such Original Issue
Discount Securities.

     Section 503. Collection of Indebtedness and Suits for Enforcement by
Trustee.

     The Company covenants that if:

          (1) default is made in the payment of any interest on, or any
     Additional Amounts payable in respect of any interest on, any Security or
     any Coupon appertaining thereto when such interest or Additional Amounts,
     as the case may be, shall have become due and payable and such default
     continues for a period of 30 days, or

          (2) default is made in the payment of any principal of or premium, if
     any, on, or any Additional Amounts payable in respect of any principal of
     or premium, if any, on, any Security at its Maturity, or

          (3) default is made in the deposit of any sinking fund payment when
     due,

the Company shall, upon demand of the Trustee, pay to the Trustee, for the
benefit of the Holders of such Securities and any Coupons appertaining thereto,
the whole amount of money then due and payable with respect to such Securities
and any Coupons appertaining thereto, with interest upon the overdue principal,
any premium and, to the extent permitted by applicable law, upon any overdue
installments of interest and Additional Amounts at the rate or respective rates,
as the case may be, provided for or with respect to such Securities or, if no
such rate or rates are so provided, at the rate or respective rates, as the case
may be, of interest borne by such Securities, and, in addition thereto, such
further amount of money 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 to
the Trustee under Section 606.

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<PAGE>

     If the Company fails to pay the money it is required to pay the Trustee
pursuant to the preceding paragraph forthwith upon the demand of the Trustee,
the Trustee, in its own name and as trustee of an express trust, may institute a
judicial proceeding for the collection of the money 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 such Securities and any Coupons
appertaining thereto and collect the monies 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 and any Coupons appertaining thereto, wherever
situated.

     If an Event of Default with respect to Securities of any series occurs and
is continuing, the Trustee may in its discretion proceed to protect and enforce
its rights and the rights of the Holders of Securities of such series and any
Coupons appertaining thereto 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 such Securities or in aid of the exercise of any power granted
herein or therein, or to enforce any other proper remedy.

     Section 504. Trustee May File Proofs of Claim.

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

          (1) to file and prove a claim for the whole amount, or such lesser
     amount as may be provided for in the Securities of such series, of the
     principal and any premium, interest and Additional Amounts owing and unpaid
     in respect of the Securities and any Coupons appertaining thereto and to
     file such other papers or documents as may be necessary or advisable in
     order to have the claims of the Trustee (including any claim for the
     reasonable compensation, expenses, disbursements and advances of the
     Trustee, its agents or counsel) and of the Holders of Securities or any
     Coupons allowed in such judicial proceeding, and

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

and any custodian, receiver, assignee, trustee, liquidator, sequestrator or
other similar official in any such judicial proceeding is hereby authorized by
each Holder of Securities or any Coupons 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 of Securities or any Coupons, to pay to the Trustee any
amount due to it for the reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel and any other amounts due the
Trustee under Section 606.

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<PAGE>

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

     Section 505. Trustee May Enforce Claims without Possession of Securities or
Coupons.

     All rights of action and claims under this Indenture or any of the
Securities or Coupons may be prosecuted and enforced by the Trustee without the
possession of any of the Securities or Coupons 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 or judgment, after provision for the payment of the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents
and counsel, shall be for the ratable benefit of each and every Holder of a
Security or Coupon in respect of which such judgment has been recovered.

     Section 506. Application of Money Collected.

     Any money collected by the Trustee pursuant to this Article with respect to
the Securities of any series shall be applied in the following order, at the
date or dates fixed by the Trustee and, in case of the distribution of such
money on account of principal, or any premium, interest or Additional Amounts,
upon presentation of such Securities or the Coupons, if any, appertaining
thereto, or both, as the case may be, 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 and any
     predecessor Trustee under Section 606;

          SECOND: To the payment of amounts then due and unpaid to the holders
     of Senior Indebtedness with respect to such series, to the extent required
     pursuant to the Subordination Provisions established with respect to the
     Securities of such series pursuant to Section 301(25);

          THIRD: To the payment of the amounts then due and unpaid upon the
     Securities and any Coupons for principal and any premium, interest and
     Additional Amounts in respect of which or for the benefit of which such
     money has been collected, ratably, without preference or priority of any
     kind, according to the aggregate amounts due and payable on such Securities
     and Coupons for principal and any premium, interest and Additional Amounts;

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

     Section 507. Limitations on Suits.

     No Holder of any Security of any series or any Coupons appertaining thereto
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

                                       48

<PAGE>

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

          (2) 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;

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

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

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

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

     Section 508. Unconditional Right of Holders to Receive Principal and any
Premium, Interest and Additional Amounts.

     Notwithstanding any other provision in this Indenture, the Holder of any
Security or Coupon shall have the right, which is absolute and unconditional, to
receive payment of the principal of, any premium, if any, and (subject to
Sections 305 and 307) interest, if any, on and any Additional Amounts with
respect to such Security or such Coupon, as the case may be, on the respective
Stated Maturity or Maturities therefor specified in such Security or Coupon (or,
in the case of redemption, on the Redemption Date or, in the case of repayment
pursuant to Article Thirteen hereof at the option of such Holder if provided in
or pursuant to this Indenture, on the date such repayment is due) and, in the
case of any Security which is convertible into or exchangeable for other
securities or property, to convert or exchange, as the case may be, such
Security in accordance with its terms, and to institute suit for the enforcement
of any such payment and any such right to convert or exchange, and such right
shall not be impaired without the consent of such Holder.

     Section 509. Restoration of Rights and Remedies.

     If the Trustee or any Holder of a Security or a Coupon has instituted any
proceeding to enforce any right or remedy under this Indenture and such
proceeding has been discontinued or abandoned for any reason, or has been
determined adversely to the Trustee or to such Holder, then and in every such
case the Company, the Trustee and each such Holder shall, subject to any
determination in such proceeding, be restored severally and respectively to
their former positions

                                       49

<PAGE>

hereunder, and thereafter all rights and remedies of the Trustee and each such
Holder shall continue as though no such proceeding had been instituted.

     Section 510. Rights and Remedies Cumulative.

     To the extent permitted by applicable law and except as otherwise provided
with respect to the replacement or payment of mutilated, destroyed, lost or
stolen Securities or Coupons in the last paragraph of Section 306, no right or
remedy herein conferred upon or reserved to the Trustee or to each and every
Holder of a Security or a Coupon is intended to be exclusive of any other right
or remedy, and every right and remedy, to the extent permitted by law, shall 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, to the
extent permitted by law, prevent the concurrent assertion or employment of any
other appropriate right or remedy.

     Section 511. Delay or Omission Not Waiver.

     No delay or omission of the Trustee or of any Holder of any Security or
Coupon to exercise any right or remedy accruing upon any Event of Default shall,
to the extent permitted by applicable law, 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 any
Holder of a Security or a Coupon may, to the extent permitted by applicable law,
be exercised from time to time, and as often as may be deemed expedient, by the
Trustee or by such Holder, as the case may be.

     Section 512. Control by Holders of Securities.

     The Holders of a majority in aggregate 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 and any Coupons appertaining thereto, provided that

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

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

          (3) such direction is not unduly prejudicial to the rights of the
     other Holders of Securities of such series not joining in such action.

     Section 513. Waiver of Past Defaults.

     The Holders of not less than a majority in aggregate principal amount of
the Outstanding Securities of any series on behalf of the Holders of all the
Securities of such series and any Coupons appertaining thereto may waive any
past default hereunder with respect to such series and its consequences, except

                                       50

<PAGE>

          (1) a default in the payment of the principal of, any premium or
     interest on, or any Additional Amounts with respect to, any Security of
     such series or any Coupons appertaining thereto, or

          (2) in the case of any Securities which are convertible into or
     exchangeable for Common Stock or other securities or property, a default in
     any such conversion or exchange, or

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

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

     Section 514. Waiver of Usury, Stay or Extension Laws.

     The Company covenants that (to the extent that it may lawfully do so) 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 or any usury law or
any other law wherever enacted, now or at any time hereafter in force, which
would prohibit or forgive the Company from paying all or any portion of the
principal of or premium, if any, or interest, if any on or Additional Amounts,
if any, with respect to any Securities as contemplated herein and therein or
which may affect the covenants or the performance of this Indenture or the
Securities; and the Company (to the extent that it may lawfully do so) 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
or the Holders, but will suffer and permit the execution of every such power as
though no such law had been enacted.

     Section 515. 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 any
undertaking to pay the costs of such suit, and that such court may in its
discretion assess reasonable costs, including reasonable attorneys' fees and
disbursements, 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 515 shall not apply to any suit instituted by the
Trustee, to any suit instituted by any Holder, or group of Holders, holding in
the aggregate more than 10% in principal amount of Outstanding Securities of any
series, or to any suit instituted by any Holder for the enforcement of the
payment of the principal of (or premium, if any) or interest, if any, on or
Additional Amounts, if any, with respect to any Security on or after the
respective Stated Maturities expressed in such Security (or, in the case of
redemption, on or after the Redemption Date, and, in the case of repayment at
the option of the Holder pursuant to Article Thirteen hereof, on or after the
date for repayment) or for the enforcement of the right, if

                                       51

<PAGE>

any, to convert or exchange any Security into Common Stock or other securities
in accordance with its terms.

                                   ARTICLE SIX

                                   THE TRUSTEE

     Section 601. Certain Rights of Trustee.

     Subject to Sections 315(a) through 315(d) of the Trust Indenture Act:

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

          (2) any request or direction of the Company mentioned herein shall be
     sufficiently evidenced by a Company Request or a Company Order (in each
     case, other than delivery of any Security, together with any Coupons
     appertaining thereto, to the Trustee for authentication and delivery
     pursuant to Section 303 which shall be sufficiently evidenced as provided
     therein) and any resolution of the Board of Directors may be sufficiently
     evidenced by a Board Resolution;

          (3) 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 shall be herein specifically prescribed) may, in the absence of
     bad faith on its part, rely upon an Officers' Certificate;

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

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

          (6) 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, coupon 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,
     during business hours and upon

                                       52

<PAGE>

     reasonable notice, the books, records and premises of the Company,
     personally or by agent or attorney; and

          (7) 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.

     Section 602. Notice of Defaults.

     Within 90 days after the occurrence of any default hereunder with respect
to the Securities of any series, the Trustee shall transmit by mail to all
Holders of Securities of such series entitled to receive reports pursuant to
Section 703(3), 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 of (or premium, if any),
or interest, if any, on, or Additional Amounts or any sinking fund installment
with respect to, any Security 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
best interest of the Holders of Securities and Coupons of such series; and
provided, further, that in the case of any default of the character specified in
Section 501(4) or 501(9) with respect to Securities of such series, no such
notice to Holders shall be given until at least 30 days after the occurrence
thereof. For the purpose of this Section, the term "default" means any event
which is, or after notice or lapse of time or both would become, an Event of
Default with respect to Securities of such series.

     Section 603. Not Responsible for Recitals or Issuance of Securities.

     The recitals contained herein and in the Securities, except the Trustee's
certificate of authentication, and in any Coupons shall be taken as the
statements of the Company and neither the Trustee nor any Authenticating Agent
assumes any responsibility for their correctness. The Trustee makes no
representations as to the validity or sufficiency of this Indenture or of the
Securities or the Coupons, except that the Trustee represents that it is duly
authorized to execute and deliver this Indenture, authenticate the Securities
and perform its obligations hereunder and that the statements made by it in a
Statement of Eligibility on Form T-1 supplied to the Company are true and
accurate, subject to the qualifications set forth therein. Neither the Trustee
nor any Authenticating Agent shall be accountable for the use or application by
the Company of the Securities or the proceeds thereof.

     Section 604. May Hold Securities.

     The Trustee, any Authenticating Agent, any Paying Agent, any Security
Registrar or any other Person that may be an agent of the Trustee or the
Company, in its individual or any other capacity, may become the owner or
pledgee of Securities or Coupons and, subject to Sections 310(b) and 311 of the
Trust Indenture Act, may otherwise deal with the Company with the same rights it
would have if it were not Trustee, Authenticating Agent, Paying Agent, Security
Registrar or such other Person.

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<PAGE>

     Section 605. Money Held in Trust.

     Except as provided in Section 403 and Section 1003, money held by the
Trustee in trust hereunder need not be segregated from other funds except to the
extent required by law and shall be held uninvested. The Trustee shall be under
no liability for interest on any money received by it hereunder except as
otherwise agreed in writing with the Company.

     Section 606. Compensation and Reimbursement.

     The Company agrees:

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

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

          (3) to indemnify the Trustee and its agents for, and to hold them
     harmless against, any loss, liability or reasonable expense (including,
     without limitation, the reasonable fees and disbursements of the Trustee's
     agents, legal counsel, accountants and experts) incurred without negligence
     or bad faith on their part, arising out of or in connection with the
     acceptance or administration of the trust or trusts hereunder, including
     the reasonable costs and expenses of defending themselves against any claim
     or liability in connection with the exercise or performance of any of their
     powers or duties hereunder, except to the extent that any such loss,
     liability or expense was due to the Trustee's negligence or bad faith.

     As security for the performance of the obligations of the Company under
this Section, the Trustee shall have a lien prior to the Securities of any
series upon all property and funds held or collected by the Trustee as such,
except funds held in trust for the payment of principal of, or premium or
interest on or any Additional Amounts with respect to Securities or any Coupons
appertaining thereto.

     Any compensation or expense incurred by the Trustee after a default
specified by Section 501(6) or (7) is intended to constitute an expense of
administration under any then applicable bankruptcy or insolvency law. "Trustee"
for purposes of this Section 606 shall include any predecessor Trustee but the
negligence or bad faith of any Trustee shall not affect the rights of any other
Trustee under this Section 606. The provisions of this Section 606 shall, to the
extent permitted by law, survive any termination of this Indenture (including,
without limitation, termination pursuant to any Bankruptcy Laws) and the
resignation or removal of the Trustee.

                                       54
<PAGE>

     Section 607. Corporate Trustee Required; Eligibility.

     (1) There shall at all times be a Trustee hereunder that is a Corporation,
organized and doing business under the laws of the United States of America, any
state thereof or the District of Columbia, eligible under Section 310(a)(1) of
the Trust Indenture Act to act as trustee under an indenture qualified under the
Trust Indenture Act and that has a combined capital and surplus (computed in
accordance with Section 310(a)(2) of the Trust Indenture Act) of at least
$50,000,000 subject to supervision or examination by Federal or state authority.
If at any time the Trustee shall cease to be eligible in accordance with the
provisions of this Section, it shall resign immediately in the manner and with
the effect hereinafter specified in this Article.

     (2) The following indenture shall be considered specifically described
herein for purposes of clause (i) of the proviso contained in Section 310(b)(1)
of the Trust Indenture Act: Indenture dated as of _____ between the Company and
_____, as successor trustee; and, pursuant to Section 310(b)(1)(C)(i) of the
Trust Indenture Act, unless otherwise ordered by the Commission, an event of
default by the Company under this Indenture will not disqualify the Trustee
under this Indenture because it is a trustee under such other indenture.

     Section 608. Resignation and Removal; Appointment of Successor.

     (1) No resignation or removal of the Trustee and no appointment of a
successor Trustee pursuant to this Article shall become effective until the
acceptance of appointment by the successor Trustee pursuant to Section 609.

     (2) The Trustee may resign at any time with respect to the Securities of
one or more series by giving written notice thereof to the Company. If the
instrument of acceptance by a successor Trustee required by Section 609 shall
not have been delivered to the Trustee within 30 days 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 with respect to such
series.

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

     (4) If at any time:

          (a) the Trustee shall fail to comply with the obligations imposed upon
     it under Section 310(b) of the Trust Indenture Act with respect to
     Securities of any series after written request therefor by the Company or
     any Holder of a Security of such series who has been a bona fide Holder of
     a Security of such series for at least six months, or

          (b) the Trustee shall cease to be eligible under Section 607 and shall
     fail to resign after written request therefor by the Company or any such
     Holder, or

          (c) the Trustee shall become incapable of acting or shall be adjudged
     a bankrupt or insolvent or a receiver of the Trustee or of its property
     shall be appointed or any public officer shall take charge or control of
     the Trustee or of its property or affairs for the purpose of
     rehabilitation, conservation or liquidation,

                                       55

<PAGE>

then, in any such case, (i) the Company, by or pursuant to a Board Resolution,
may remove the Trustee with respect to all Securities or the Securities of such
series, or (ii) subject to Section 315(e) of the Trust Indenture Act, any Holder
of a Security who has been a bona fide Holder of a Security of such series for
at least six months may, on behalf of himself and all others similarly situated,
petition any court of competent jurisdiction for the removal of the Trustee with
respect to all Securities of such series and the appointment of a successor
Trustee or Trustees.

     (5) If the Trustee shall resign, be removed or become incapable of acting,
or if a vacancy shall occur in the office of Trustee for any cause, with respect
to the Securities of one or more series, the Company, by or pursuant to a Board
Resolution, shall promptly appoint a successor Trustee or Trustees with respect
to the Securities of that or those series (it being understood that any such
successor Trustee may be appointed with respect to the Securities of one or more
or all of such series and that at any time there shall be only one Trustee with
respect to the Securities of any particular series) and shall comply with the
applicable requirements of Section 609. If, within one year after such
resignation, removal or incapability, or the occurrence of such vacancy, a
successor Trustee with respect to the Securities of any series shall be
appointed by Act of the Holders of a majority 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 in accordance with the applicable requirements of Section
609, become the successor Trustee with respect to the Securities of such series
and to that extent supersede the successor Trustee appointed by the Company. If
no successor Trustee with respect to the Securities of any series shall have
been so appointed by the Company or the Holders of Securities and accepted
appointment in the manner required by Section 609, any Holder of a Security who
has been a bona fide Holder of a Security of such series for at least six months
may, on behalf of himself and all others similarly situated, petition any court
of competent jurisdiction for the appointment of a successor Trustee with
respect to the Securities of such series.

     (6) The Company shall give notice of each resignation and each removal of
the Trustee with respect to the Securities of any series and each appointment of
a successor Trustee with respect to the Securities of any series by mailing
written notice of such event by first-class mail, postage prepaid, to the
Holders of Registered Securities, if any, of such series as their names and
addresses appear in the Security Register and, if Securities of such series are
issued as Bearer Securities, by publishing notice of such event once in an
Authorized Newspaper in each Place of Payment located outside the United States.
Each notice shall include the name of the successor Trustee with respect to the
Securities of such series and the address of its Corporate Trust Office.

     Section 609. Acceptance of Appointment by Successor.

     (1) Upon the appointment hereunder of any successor Trustee with respect to
all Securities, such successor Trustee so appointed shall execute, acknowledge
and deliver to the Company and the retiring Trustee an instrument accepting such
appointment, and thereupon the resignation or removal of the retiring Trustee
shall become effective and such successor Trustee, without any further act, deed
or conveyance, shall become vested with all the rights, powers, trusts and
duties hereunder of the retiring Trustee; but, on the request of the Company or
such

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<PAGE>

successor Trustee, such retiring Trustee, upon payment of its charges, shall
execute and deliver an instrument transferring to such successor Trustee all the
rights, powers and trusts of the retiring Trustee and, subject to Section 1003,
shall duly assign, transfer and deliver to such successor Trustee all property
and money held by such retiring Trustee hereunder, subject nevertheless to its
claim, if any, provided for in Section 606.

     (2) Upon the appointment hereunder of any successor Trustee with respect to
the Securities of one or more (but not all) series, the Company, the retiring
Trustee and such successor Trustee shall execute and deliver an indenture
supplemental hereto wherein each successor Trustee shall accept such appointment
and which (1) shall contain such provisions as shall be necessary or desirable
to transfer and confirm to, and to vest in, such successor Trustee all the
rights, powers, trusts and duties of the retiring Trustee with respect to the
Securities of that or those series to which the appointment of such successor
Trustee relates, (2) if the retiring Trustee is not retiring with respect to all
Securities, shall contain such provisions as shall be deemed necessary or
desirable to confirm that all the rights, powers, trusts and duties of the
retiring Trustee with respect to the Securities of that or those series as to
which the retiring Trustee is not retiring shall continue to be vested in the
retiring Trustee, and (3) shall add to or change any of the provisions of this
Indenture as shall be necessary to provide for or facilitate the administration
of the trusts hereunder by more than one Trustee, it being understood that
nothing herein or in such supplemental indenture shall constitute such Trustees
co-trustees of the same trust, that each such Trustee shall be trustee of a
trust or trusts hereunder separate and apart from any trust or trusts hereunder
administered by any other such Trustee and that no Trustee shall be responsible
for any notice given to, or received by, or any act or failure to act on the
part of any other Trustee hereunder, and, upon the execution and delivery of
such supplemental indenture, the resignation or removal of the retiring Trustee
shall become effective to the extent provided therein, such retiring Trustee
shall have no further responsibility for the exercise of rights and powers or
for the performance of the duties and obligations vested in the Trustee under
this Indenture with respect to the Securities of that or those series to which
the appointment of such successor Trustee relates other than as hereinafter
expressly set forth, and such successor Trustee, without any further act, deed
or conveyance, shall become vested with all the rights, powers, trusts and
duties of the retiring Trustee with respect to the Securities of that or those
series to which the appointment of such successor Trustee relates; but, on
request of the Company or such successor Trustee, such retiring Trustee, upon
payment of its charges with respect to the Securities of that or those series to
which the appointment of such successor relates and subject to Section 1003
shall duly assign, transfer and deliver to such successor Trustee, to the extent
contemplated by such supplemental indenture, the property and money held by such
retiring Trustee hereunder with respect to the Securities of that or those
series to which the appointment of such successor Trustee relates, subject to
its claim, if any, provided for in Section 606.

     (3) Upon request of any Person appointed hereunder as a successor Trustee,
the Company shall execute any and all instruments for more fully and certainly
vesting in and confirming to such successor Trustee all such rights, powers and
trusts referred to in paragraph (1) or (2) of this Section, as the case may be.

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<PAGE>

     (4) No Person shall accept its appointment hereunder as a successor Trustee
unless at the time of such acceptance such successor Person shall be qualified
and eligible under this Article.

     Section 610. 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 otherwise be 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 such
successor 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. In case any
Securities shall not have been authenticated by such predecessor Trustee, any
such successor Trustee may authenticate and deliver such Securities in either
its own name or that of its predecessor Trustee.

     Section 611. Appointment of Authenticating Agent.

     The Trustee may appoint one or more Authenticating Agents acceptable to the
Company with respect to one or more series of Securities which shall be
authorized to act on behalf of the Trustee to authenticate Securities of that or
those series issued upon original issue, exchange, registration of transfer,
partial redemption, partial repayment, partial conversion or exchange for Common
Stock or other securities or property, or pursuant to Section 306, and
Securities so authenticated shall be entitled to the benefits of this Indenture
and shall be valid and obligatory for all purposes as if authenticated by the
Trustee hereunder. Wherever reference is made in this Indenture to the
authentication and delivery of Securities by the Trustee or the Trustee's
certificate of authentication, such reference shall be deemed to include
authentication and delivery on behalf of the 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, except as
provided in or pursuant to this Indenture, shall at all times be a Corporation
that would be permitted by the Trust Indenture Act to act as trustee under an
indenture qualified under the Trust Indenture Act, is authorized under
applicable law and by its charter to act as an Authenticating Agent and has a
combined capital and surplus (computed in accordance with Section 310(a)(2) of
the Trust Indenture Act) of at least $50,000,000. If at any time an
Authenticating Agent shall cease to be eligible in accordance with the
provisions of this Section, it 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 all or substantially all of
the corporate agency or corporate trust business of an Authenticating Agent,
shall be the successor of such Authenticating Agent hereunder, provided

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<PAGE>

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 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 the Company. Upon receiving such a notice of
resignation or upon such a termination, or in case at any time such
Authenticating Agent shall cease to be eligible in accordance with the
provisions of this Section, the Trustee may appoint a successor Authenticating
Agent which shall be acceptable to the Company and shall (i) mail written notice
of such appointment by first-class mail, postage prepaid, to all Holders of
Registered Securities, if any, of the series with respect to which such
Authenticating Agent shall serve, as their names and addresses appear in the
Security Register, and (ii) if Securities of the series are issued as Bearer
Securities, publish notice of such appointment at least once in an Authorized
Newspaper in the place where such successor Authenticating Agent has its
principal office if such office is located outside the United States. 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 each Authenticating Agent from time to time
reasonable compensation for its services under this Section. If the Trustee
makes such payments, it shall be entitled to be reimbursed for such payments,
subject to the provisions of Section 606.

     The provisions of Sections 308, 603 and 604 shall be applicable to each
Authenticating Agent.

     If an Authenticating Agent is appointed with respect to one or more series
of Securities pursuant to this Section, the Securities of such series may have
endorsed thereon, in addition to or in lieu of the Trustee's certificate of
authentication, an alternate certificate of authentication in substantially the
following form:

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

                                        --------------------------------------,
                                        As Trustee

                                        By:
                                            ------------------------------------
                                            As Authenticating Agent

                                        By:
                                            ------------------------------------
                                            Authorized Signatory

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<PAGE>

     If all of the Securities of any series may not be originally issued at one
time, and if the Trustee does not have an office capable of authenticating
Securities upon original issuance located in a Place of Payment where the
Company wishes to have Securities of such series authenticated upon original
issuance, the Trustee, if so requested in writing (which writing need not be
accompanied by or contained in an Officers' Certificate of the Company), shall
appoint in accordance with this Section an Authenticating Agent having an office
in a Place of Payment designated by the Company with respect to such series of
Securities.

                                  ARTICLE SEVEN

                HOLDERS LISTS AND REPORTS BY TRUSTEE AND COMPANY

     Section 701. Company to Furnish Trustee Names and Addresses of Holders.

     In accordance with Section 312(a) of the Trust Indenture Act, the Company
shall furnish or cause to be furnished to the Trustee

          (1) semi-annually with respect to Securities of each series not later
     than _____ and _____ of the year or upon such other dates as are set forth
     in or pursuant to the Board Resolution or indenture supplemental hereto
     authorizing such series, a list, in each case in such form as the Trustee
     may reasonably require, of the names and addresses of Holders as of the
     applicable date, and

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

provided, however, that so long as the Trustee is the Security Registrar no such
list shall be required to be furnished.

     Section 702. Preservation of Information; Communications to Holders.

     The Trustee shall comply with the obligations imposed upon it pursuant to
Section 312 of the Trust Indenture Act.

     Every Holder of Securities or Coupons, by receiving and holding the same,
agrees with the Company and the Trustee that neither the Company, the Trustee,
any Paying Agent or any Security Registrar shall be held accountable by reason
of the disclosure of any such information as to the names and addresses of the
Holders of Securities in accordance with Section 312(c) of the Trust Indenture
Act, regardless of the source from which such information was derived, and that
the Trustee shall not be held accountable by reason of mailing any material
pursuant to a request made under Section 312(b) of the Trust Indenture Act.

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<PAGE>

     Section 703. Reports by Trustee.

     (1) Within 60 days after May 15 of each year commencing with the first May
15 following the first issuance of Securities pursuant to Section 301, if
required by Section 313(a) of the Trust Indenture Act, the Trustee shall
transmit, pursuant to Section 313(c) of the Trust Indenture Act, a brief report
dated as of such May 15 with respect to any of the events specified in said
Sections 313(a) and 313(b)(2) which may have occurred since the later of the
immediately preceding May 15 and the date of this Indenture.

     (2) The Trustee shall transmit the reports required by Section 313(a) of
the Trust Indenture Act at the times specified therein.

     (3) Reports pursuant to this Section shall be transmitted in the manner and
to the Persons required by Sections 313(c) and 313(d) of the Trust Indenture
Act.

     Section 704. Reports by Company.

     The Company, pursuant to Section 314(a) of the Trust Indenture Act, shall:

          (1) file with the Trustee, within 15 days after the Company is
     required to file the same with the Commission, copies of the annual reports
     and of the information, documents and other reports (or copies of such
     portions of any of the foregoing as the Commission may from time to time by
     rules and regulations prescribe) which the Company may be required to file
     with the Commission pursuant to Section 13 or Section 15(d) of the Exchange
     Act; or, if the Company is not required to file information, documents or
     reports pursuant to either of said Sections, then it shall file with the
     Trustee and the Commission, in accordance with rules and regulations
     prescribed from time to time by the Commission, such of the supplementary
     and periodic information, documents and reports which may be required
     pursuant to Section 13 of the Exchange Act in respect of a security listed
     and registered on a national securities exchange as may be prescribed from
     time to time in such rules and regulations;

          (2) file with the Trustee and the Commission, in accordance with rules
     and regulations prescribed from time to time by the Commission, such
     additional information, documents and reports with respect to compliance by
     the Company, with the conditions and covenants of this Indenture as may be
     required from time to time by such rules and regulations; and

          (3) transmit within 30 days after the filing thereof with the Trustee,
     in the manner and to the extent provided in Section 313(c) of the Trust
     Indenture Act, such summaries of any information, documents and reports
     required to be filed by the Company pursuant to paragraphs (1) and (2) of
     this Section as may be required by rules and regulations prescribed from
     time to time by the Commission.

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<PAGE>

                                  ARTICLE EIGHT

                         CONSOLIDATION, MERGER AND SALES

     Section 801. Company May Consolidate, Etc., Only on Certain Terms.

     The Company shall not, in any transaction or series of related
transactions, consolidate with or merge into any Person or sell, assign,
transfer, lease or otherwise convey all or substantially all its properties and
assets to any Person, unless:

          (1) either (A) the Company shall be the continuing Person (in the case
     of a merger), or (B) the successor Person (if other than the Company)
     formed by such consolidation or into which the Company is merged or which
     acquires by sale, assignment, transfer, lease or other conveyance all or
     substantially all the properties and assets of the Company shall be a
     corporation organized and existing under the laws of the United States of
     America, any state thereof or the District of Columbia and shall expressly
     assume, by an indenture (or indentures, if at such time there is more than
     one Trustee) supplemental hereto, executed by such successor corporation
     and delivered to the Trustee, in form satisfactory to the Trustee, the due
     and punctual payment of the principal of, any premium and interest on, and
     any Additional Amounts with respect to, all the Outstanding Securities and
     the due and punctual performance and observance of every obligation in this
     Indenture and the Outstanding Securities on the part of the Company to be
     performed or observed, and which supplemental indenture shall provide for
     conversion or exchange rights in accordance with the provisions of the
     Securities of any series that are convertible or exchangeable into Common
     Stock or other securities;

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

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

     For purposes of the foregoing, any sale, assignment, transfer, lease or
other conveyance of all or any of the properties and assets of one or more
Subsidiaries of the Company (other than to the Company or another Subsidiary),
which, if such properties and assets were owned by the Company, would constitute
all or substantially all of the Company's properties and assets, shall be deemed
to be the transfer of all or substantially all of the properties and assets of
the Company.

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<PAGE>

     Section 802. Successor Person Substituted for Company.

     Upon any consolidation by the Company with or merger of the Company into
any other Person or any sale, assignment, transfer, lease or conveyance of all
or substantially all of the properties and assets of the Company to any Person
in accordance with Section 801, the successor Person formed by such
consolidation or into which the Company is merged or to which such sale,
assignment, transfer, lease or other conveyance 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
predecessor Person shall be released from all obligations and covenants under
this Indenture, the Securities and the Coupons.

                                  ARTICLE NINE

                             SUPPLEMENTAL INDENTURES

     Section 901. Supplemental Indentures without Consent of Holders.

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

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

          (2) to add to the covenants of the Company for the benefit of the
     Holders of all or any series of Securities (as shall be specified in such
     supplemental indenture or indentures) or to surrender any right or power
     herein conferred upon the Company with respect to all or any series of
     Securities issued under this Indenture (as shall be specified in such
     supplemental indenture or indentures); or

          (3) to add to or change any of the provisions of this Indenture to
     provide that Bearer Securities may be registrable as to principal, to
     change or eliminate any restrictions on the payment of principal of, any
     premium or interest on or any Additional Amounts with respect to
     Securities, to permit Bearer Securities to be issued in exchange for
     Registered Securities, to permit Bearer Securities to be exchanged for
     Bearer Securities of other authorized denominations or to permit or
     facilitate the issuance of Securities in uncertificated or global form,
     provided any such action shall not adversely affect the interests of the
     Holders of Securities of any series or any Coupons appertaining thereto; or

          (4) to establish the form or terms of Securities of any series and any
     Coupons appertaining thereto as permitted by Sections 201 and 301,
     including, without limitation, Subordination Provisions and any conversion
     or exchange provisions applicable to Securities which are convertible into
     or exchangeable for other securities or property, and

                                       63

<PAGE>

     any deletions from or additions or changes to this Indenture in connection
     therewith (provided that any such deletions, additions and changes shall
     not be applicable to any other series of Securities then Outstanding); or

          (5) to evidence and provide for the acceptance of appointment
     hereunder by a successor Trustee with respect to the Securities of one or
     more series and to add to or change any of the provisions of this Indenture
     as shall be necessary to provide for or facilitate the administration of
     the trusts hereunder by more than one Trustee, pursuant to the requirements
     of Section 609; or

          (6) to close this Indenture with respect to the authentication and
     delivery of additional series of securities, to cure any ambiguity or to
     correct or supplement any provision herein which may be defective or which
     may be inconsistent with any other provision herein, or to make any other
     provisions with respect to matters or questions arising under this
     Indenture which shall not adversely affect the interests of the Holders of
     Securities of any series then Outstanding or any Coupons appertaining
     thereto in any material respect; or

          (7) to add any additional Events of Default with respect to all or any
     series of Securities (as shall be specified in such supplemental
     indenture); or

          (8) to supplement any of the provisions of this Indenture to such
     extent as shall be necessary to permit or facilitate the defeasance,
     covenant defeasance and/or satisfaction and discharge of any series of
     Securities pursuant to Article Four, provided that any such action shall
     not adversely affect the interests of any Holder of a Security of such
     series and any Coupons appertaining thereto or any other Security or Coupon
     in any material respect; or

          (9) to add guarantees for the benefit of the Securities; or

          (10) to make provisions with respect to conversion or exchange rights
     of Holders of Securities of any series; or

          (11) to amend or supplement any provision contained herein or in any
     supplemental indenture or in any Securities (which amendment or supplement
     may apply to one or more series of Securities or to one or more Securities
     within any series as specified in such supplemental indenture or
     indentures), provided that such amendment or supplement does not apply to
     any Outstanding Security issued prior to the date of such supplemental
     indenture and entitled to the benefits of such provision; or

          (12) in the case of any series of Securities which are convertible
     into or exchangeable for Common Stock or other securities or property, to
     safeguard or provide for the conversion or exchange rights, as the case may
     be, of such Securities in the event of any reclassification or change of
     outstanding shares of Common Stock or any merger, consolidation, statutory
     share exchange or combination of the Company with or into another Person or
     any sale, lease, assignment, transfer, disposition or other conveyance of
     all or substantially all of the properties and assets of the Company to any
     other Person or

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<PAGE>

     other similar transactions, if expressly required by the terms of such
     series of Securities established pursuant to Section 301.

     Section 902. Supplemental Indentures with Consent of Holders.

     With the consent of the Holders of not less than a majority in principal
amount of the Outstanding Securities of each series affected by such
supplemental indenture, by Act of said Holders delivered to the Company and the
Trustee, the Company (when authorized by or pursuant to a Board Resolution), and
the Trustee may enter into an indenture or indentures supplemental hereto for
the purpose of adding any provisions to or changing in any manner or eliminating
any of the provisions of this Indenture or of the Securities of such series or
of modifying in any manner the rights of the Holders of Securities of such
series under this Indenture; provided, that no such supplemental indenture,
without the consent of the Holder of each Outstanding Security affected thereby,
shall

          (1) change the Stated Maturity of the principal of, or premium, if
     any, or any installment of interest, if any, on, or any Additional Amounts,
     if any, with respect to, any Security, or reduce the principal amount
     thereof or the premium, if any, thereon or the rate (or modify the
     calculation of such rate) of interest thereon, or reduce the amount payable
     upon redemption thereof at the option of the Company or repayment thereof
     at the option of the Holder, or reduce any Additional Amounts payable with
     respect thereto, or change the obligation of the Company to pay Additional
     Amounts pursuant to Section 1004 (except as contemplated by Section 801(1)
     and permitted by Section 901(1)), or reduce the amount of the principal of
     any Original Issue Discount Security that would be due and payable upon a
     declaration of acceleration of the Maturity thereof pursuant to Section 502
     or the amount thereof provable in bankruptcy pursuant to Section 504, or
     adversely affect the right of repayment at the option of any Holder as
     contemplated by Article Thirteen, or change the Place of Payment where or
     the Currency in which the principal of, any premium or interest on, or any
     Additional Amounts with respect to any Security is payable, or impair the
     right to institute suit for the enforcement of any such payment on or after
     the Stated Maturity thereof (or, in the case of redemption, on or after the
     Redemption Date or, in the case of repayment pursuant to Article Thirteen
     at the option of the Holder, on or after the date for repayment) in each
     case as such Stated Maturity, Redemption Date or date for repayment may, if
     applicable, be extended in accordance with the terms of such Security or
     any Coupon appertaining thereto, or in the case of any Security which is
     convertible into or exchangeable for other securities or property, impair
     the right to institute suit to enforce the right to convert or exchange
     such Security in accordance with its terms, or

          (2) reduce the percentage in principal amount of the Outstanding
     Securities of any series, 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 Section
     513 or 1008 of this Indenture, or reduce the requirements of Section 1504
     for quorum or voting, or

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<PAGE>

          (3) in the case of Securities of any series, modify any of the
     Subordination Provisions applicable to such Securities or the definition of
     "Senior Indebtedness" applicable to such Securities in a manner adverse to
     the Holders of such Securities, or

          (4) modify any of the provisions of this Section, Section 513 or
     Section 1008, 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 affected
     thereby, or

          (5) make any change that adversely affects the right, if any, to
     convert or exchange any Security for Common Stock or other securities or
     property in accordance with its terms.

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

     Anything in this Indenture to the contrary notwithstanding, if more than
one series of Securities is Outstanding, the Company shall be entitled to enter
into a supplemental indenture under this Section 902 with respect to any one or
more series of Outstanding Securities without entering into a supplemental
indenture with respect to any other series of Outstanding Securities.

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

     Section 903. Execution of Supplemental Indentures.

     As a condition to executing, or accepting the additional trusts created by,
any supplemental indenture permitted by this Article or the modifications
thereby of the trust created by this Indenture, the Trustee shall be entitled to
receive, and (subject to Sections 315(a) through 315(d) of the Trust Indenture
Act) shall be fully protected in relying upon, an Officers' Certificate and an
Opinion of Counsel to the effect that the execution of such supplemental
indenture is authorized or permitted by this Indenture and that such
supplemental indenture has been duly authorized, executed and delivered by, and
is a valid, binding and enforceable obligation of, the Company, subject to
customary exceptions. The Trustee may, but shall not be obligated to, enter into
any such supplemental indenture which affects the Trustee's own rights, duties
or immunities under this Indenture or otherwise.

     Section 904. Effect of Supplemental Indentures.

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

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<PAGE>

     Section 905. Reference in Securities to Supplemental Indentures.

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

     Section 906. Effect on Senior Indebtedness.

     No supplemental indenture shall directly or indirectly modify or eliminate
the Subordination Provisions or the definition of "Senior Indebtedness"
applicable with respect to the Securities of any series in any manner which
might terminate or impair the subordination of such series of Securities to such
Senior Indebtedness without the prior written consent of the Holders of such
Senior Indebtedness.

     Section 907. Conformity with Trust Indenture Act.

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

                                   ARTICLE TEN

                                    COVENANTS

     Section 1001. Payment of Principal, Premium, Interest and Additional
Amounts.

     The Company covenants and agrees for the benefit of the Holders of the
Securities of each series that it will duly and punctually pay the principal of,
any premium and interest on and any Additional Amounts with respect to the
Securities of such series, whether payable in cash, shares of Common Stock or
other securities or property, in accordance with the terms thereof, any Coupons
appertaining thereto and this Indenture. Any interest due on any Bearer Security
on or before the Maturity thereof, and any Additional Amounts payable with
respect to such interest, shall be payable only upon presentation and surrender
of the Coupons appertaining thereto for such interest as they severally mature.

     Section 1002. Maintenance of Office or Agency.

     The Company shall maintain in each Place of Payment for any series of
Securities an Office or Agency where Securities of such series (but not Bearer
Securities, except as otherwise provided below, unless such Place of Payment is
located outside the United States) 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 that are convertible or
exchangeable may be surrendered for conversion or exchange, and where notices
and demands to or upon the Company in respect of the Securities of such series
relating thereto and this

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<PAGE>

Indenture may be served. If Securities of a series are issuable as Bearer
Securities, the Company shall maintain, subject to any laws or regulations
applicable thereto, an Office or Agency in a Place of Payment for such series
which is located outside the United States where Securities of such series and
any Coupons appertaining thereto may be presented and surrendered for payment;
provided, however, that if the Securities of such series are listed on the
London Stock Exchange or the Luxembourg Stock Exchange or any other stock
exchange located outside the United States and such stock exchange shall so
require, the Company shall maintain a Paying Agent in London, Luxembourg or any
other required city located outside the United States, as the case may be, so
long as the Securities of such series are listed on such exchange. The Company
will give prompt written notice to the Trustee of the location, and any change
in the location, of such Office or Agency. If at any time the Company shall fail
to maintain any such required Office or Agency or shall fail to furnish the
Trustee with the address thereof, such presentations, surrenders, notices and
demands may be made or served at the Corporate Trust Office of the Trustee,
except that Bearer Securities of such series and any Coupons appertaining
thereto may be presented and surrendered for payment at the place specified for
the purpose with respect to such Securities as provided in or pursuant to this
Indenture, and the Company hereby appoints the Trustee as its agent to receive
all such presentations, surrenders, notices and demands.

     Except as otherwise provided in or pursuant to this Indenture, no payment
of principal, premium, interest or Additional Amounts with respect to Bearer
Securities shall be made at any Office or Agency in the United States or by
check mailed to any address in the United States or by transfer to an account
maintained with a bank located in the United States; provided, however, if
amounts owing with respect to any Bearer Securities shall be payable in Dollars,
payment of principal of, any premium or interest on and any Additional Amounts
with respect to any such Security may be made at the Corporate Trust Office of
the Trustee or any Office or Agency designated by the Company in the Borough of
Manhattan, The City of New York, if (but only if) payment of the full amount of
such principal, premium, interest or Additional Amounts at all offices outside
the United States maintained for such purpose by the Company in accordance with
this Indenture is illegal or effectively precluded by exchange controls or other
similar restrictions.

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

     Unless otherwise provided in or pursuant to this Indenture, the Company
hereby designates the Borough of Manhattan, the City of New York as a Place of
Payment for each series of Securities, initially appoints the Corporate Trust
Office of the Trustee in the Borough of Manhattan, the City of New York as the
Company's Office or Agency in the Borough of Manhattan, The City of New York for
such purpose and initially appoints the Trustee as the Security Registrar for
each series of Securities and, if the Securities of any series are convertible
into or exchangeable for Common Stock or other securities or property, initially
appoints the

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<PAGE>

Trustee as conversion or exchange agent, as the case may be, for the Securities
of such series. The Company may subsequently appoint a different Office or
Agency in the Borough of Manhattan, The City of New York and, as provided in
Section 305, may remove and replace from time to time the Security Registrar.

     Section 1003. Money for Securities Payments to Be Held in Trust.

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

     Whenever the Company shall have one or more Paying Agents for any series of
Securities, it shall, on or prior to each due date of the principal of, or any
premium or interest on or any Additional Amounts with respect to, any Securities
of such series, deposit with any Paying Agent a sum (in the Currency or
Currencies described in the preceding paragraph) sufficient to pay the
principal, premium, interest and Additional Amounts, as the case may be, so
becoming due, such sum to be held in trust for the benefit of the Persons
entitled thereto, and (unless such Paying Agent is the Trustee) the Company will
promptly notify the Trustee of its action or failure so to act.

     The Company shall 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 shall:

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

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

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

To the extent that the terms of any Securities established pursuant to Section
301 provide that any principal of, or premium or interest, if any, on or any
Additional Amounts with respect to any such Securities is or may be payable in
Common Stock or other securities or property, then the provisions of this
Section 1003 shall apply, mutatis mutandis, to such Common Stock or other
securities or property.

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<PAGE>

     The Company may at any time, for the purpose of obtaining the satisfaction
and discharge of this Indenture or for any other purpose, pay, or by Company
Order direct any Paying Agent to pay, to the Trustee all sums held in trust by
the Company or such Paying Agent, such sums to be held by the Trustee upon the
same terms 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 sums.

     Except as otherwise provided herein or pursuant hereto, any money deposited
with the Trustee or any Paying Agent, or then held by the Company, in trust for
the payment of the principal of, any premium or interest on or any Additional
Amounts with respect to any Security of any series or any Coupon appertaining
thereto and remaining unclaimed for two years after such principal or such
premium or interest or Additional Amount shall have become due and payable shall
be paid to the Company on Company Request, or (if then held by the Company)
shall be discharged from such trust; and the Holder of such Security or any
Coupon appertaining thereto shall thereafter, as an unsecured general creditor,
look only to the Company for payment thereof, and all liability of the Trustee
or such Paying Agent with respect to such trust money, and all liability of the
Company as trustee thereof, shall thereupon cease; provided, however, that the
Trustee or such Paying Agent, before being required to make any such repayment,
may, not later than 30 days after the Company's request for such repayment, at
the expense of the Company cause to be published once, in an Authorized
Newspaper in each Place of Payment for such series or to be mailed to Holders of
Registered Securities of such series, or both, notice that such money remains
unclaimed and that, after a date specified therein, which shall not be less than
30 days from the date of such publication or mailing nor shall it be earlier
than two years after such principal and any premium or interest or Additional
Amounts shall have become due and payable, any unclaimed balance of such money
then remaining will be repaid to the Company.

     Section 1004. Additional Amounts.

     If any Securities of a series provide for the payment of Additional
Amounts, the Company agrees to pay to the Holder of any such Securities or any
Coupon appertaining thereto Additional Amounts as provided in or pursuant to
this Indenture or such Securities. Whenever in this Indenture there is
mentioned, in any context, the payment of the principal of or any premium or
interest on, or in respect of, any Security of any series or any Coupon, such
mention shall be deemed to include mention of the payment of Additional Amounts
provided by the terms of such series established hereby or pursuant hereto to
the extent that, in such context, Additional Amounts are, were or would be
payable in respect thereof pursuant to such terms, and express mention of the
payment of Additional Amounts (if applicable) in any provision hereof shall not
be construed as excluding Additional Amounts in those provisions hereof where
such express mention is not made.

     Except as otherwise provided in or pursuant to this Indenture or the
Securities of any series, if the Securities of a series provide for the payment
of Additional Amounts, at least 10 days prior to the first Interest Payment Date
with respect to such series of Securities (or if the Securities of such series
shall not bear interest prior to Maturity, the first day on which a payment of
principal is made), and at least 10 days prior to each date of payment of
principal or interest if there has been any change with respect to the matters
set forth in the below-mentioned

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Officers' Certificate, the Company shall furnish to the Trustee and the Paying
Agent or Paying Agents, if other than the Trustee, an Officers' Certificate
instructing the Trustee and such Paying Agent or Paying Agents whether such
payment of principal of and premium, if any, or interest, if any, on the
Securities of such series shall be made to Holders of Securities of such series
or the Coupons appertaining thereto who are United States Aliens without
withholding or deduction for or on account of any tax, assessment or other
governmental charge described in the Securities of such series or pursuant to
Section 301 with respect to the Securities of such series. If any such
withholding or deduction shall be required, then such Officers' Certificate
shall specify by country the amount, if any, required to be withheld on or
deducted from such payments to such Holders of Securities or Coupons, and the
Company agrees to pay to the Trustee or such Paying Agent the Additional Amounts
required by the terms of such Securities. The Company covenants to indemnify the
Trustee and any Paying Agent for, and to hold them harmless against, any loss,
liability or expense reasonably incurred without negligence or bad faith on
their part arising out of or in connection with actions taken or omitted by any
of them in reliance on any Officers' Certificate furnished pursuant to this
Section. Nothing in this Section 1004 or elsewhere in this Indenture shall limit
the obligation of the Company to pay Additional Amounts with respect to the
Securities of any series pursuant to the terms, if any, established pursuant to
Section 301 with respect to the Securities of such series.

     Section 1005. Corporate Existence.

     Subject to Article Eight, the Company shall do or cause to be done all
things necessary to preserve and keep in full force and effect (i) the corporate
existence of the Company, (ii) the existence (corporate or other) of each
Significant Subsidiary of the Company and (iii) the rights (charter and
statutory), licenses and franchises of the Company and each of its Significant
Subsidiaries; provided, however, that the Company shall not be required to
preserve the existence (corporate or other) of any of its Significant
Subsidiaries or any such right, license or franchise of the Company or any of
its Significant Subsidiaries if the Board of Directors of the Company determines
that the preservation thereof is no longer desirable in the conduct of the
business of the Company and its Significant Subsidiaries taken as a whole and
that the loss thereof will not be disadvantageous in any material respect to the
Holders.

     Section 1006. Maintenance of Properties.

     The Company will, and will cause each Significant Subsidiary to, cause all
its properties used or useful in the conduct of its business to be maintained
and kept in good condition, repair and working order and supplied with all
necessary equipment and will cause to be made all necessary repairs, renewals,
replacements, betterments and improvements thereof, all as in the judgment of
the Company may be necessary so that the business carried on in connection
therewith may be properly and advantageously conducted at all times; provided,
however, that nothing in this Section shall prevent the Company or any
Significant Subsidiary from discontinuing the operation and maintenance of any
of their respective properties if such discontinuance is, in the judgment of the
Board of Directors of the Company or of any Significant Subsidiary, as the case
may be, desirable in the conduct of its business.

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<PAGE>

     Section 1007. Payment of Taxes and Other Claims.

     The Company will, and will cause each Significant Subsidiary to, pay or
discharge or cause to be paid or discharged, before the same shall become
delinquent, (1) all material taxes, assessments and governmental charges levied
or imposed upon it or upon its income, profits or property, and (2) all lawful
claims for labor, materials and supplies which, if unpaid, might by law become a
lien upon its property; provided, however, that neither the Company nor any
Significant Subsidiary shall be required to pay or discharge or cause to be paid
or discharged any such material tax, assessment, charge or claim whose amount,
applicability or validity is being contested in good faith by appropriate
proceedings.

     Section 1008. Waiver of Certain Covenants.

     The Company may omit in any particular instance to comply with any term,
provision or condition set forth in Sections 1002 to 1007, inclusive, with
respect to the Securities of any series and, if expressly provided pursuant to
Section 301(18), any additional covenants applicable to the Securities of such
series if before the time for such compliance the Holders of at least a majority
in principal amount of the Outstanding Securities of such series, by Act of such
Holders, either shall waive such compliance in such instance or generally shall
have waived compliance with such term, provision or condition, but no such
waiver shall extend to or affect such term, provision or condition except to the
extent so expressly waived, and, until such waiver shall become effective, the
obligations of the Company and the duties of the Trustee in respect of any such
term, provision or condition shall remain in full force and effect.

     Section 1009. Company Statement as to Compliance.

     The Company shall deliver to the Trustee, within 120 days after the end of
each fiscal year, a written statement (which need not be contained in or
accompanied by an Officers' Certificate) signed by the principal executive
officer, the principal financial officer or the principal accounting officer of
the Company, stating whether or not, to the best of his or her knowledge, the
Company is in default in the performance and observance of any of the terms,
provisions and conditions of this Indenture (without regard to notice
requirements or periods of grace) and if the Company shall be in default,
specifying all such defaults and the nature and status thereof of which he or
she may have knowledge.

                                 ARTICLE ELEVEN

                            REDEMPTION OF SECURITIES

     Section 1101. Applicability of Article.

     Redemption of Securities of any series at the option of the Company as
permitted or required by the terms of such Securities shall be made in
accordance with the terms of such Securities and (except as otherwise provided
herein or pursuant hereto) this Article.

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<PAGE>

     Section 1102. Election to Redeem; Notice to Trustee.

     The election of the Company to redeem any Securities shall be evidenced by
or pursuant to a Board Resolution. In case of any redemption at the election of
the Company of less than all of the Securities of any series, the Company shall,
at least 60 days prior to the Redemption Date fixed by the Company (unless a
shorter notice shall be satisfactory to the Trustee), notify the Trustee of such
Redemption Date and of the principal amount of Securities of such series to be
redeemed and, in the event that the Company shall determine that the Securities
of any series to be redeemed shall be selected from Securities of such series
having the same issue date, interest rate or interest rate formula, Stated
Maturity and other terms (the "Equivalent Terms"), the Company shall notify the
Trustee of such Equivalent Terms.

     In the case of any redemption of Securities (A) prior to the expiration of
any restriction on such redemption provided in the terms of such Securities or
elsewhere in this Indenture or (B) pursuant to an election of the Company which
is subject to a condition specified in the terms of such Securities or elsewhere
in this Indenture, the Company shall furnish to the Trustee an Officers'
Certificate evidencing compliance with such restriction or condition.

     Section 1103. Selection by Trustee of Securities to be Redeemed.

     If less than all of the Securities of any series are to be redeemed or if
less than all of the Securities of any series with Equivalent Terms are to be
redeemed, the particular Securities to be redeemed shall be selected not more
than 60 days prior to the Redemption Date by the Trustee from the Outstanding
Securities of such series or from the Outstanding Securities of such series with
Equivalent Terms, as the case may be, not previously called for redemption, by
such method as the Trustee shall deem fair and appropriate and which may provide
for the selection for redemption of portions of the principal amount of
Registered Securities of such series; provided, however, that no such partial
redemption shall reduce the portion of the principal amount of a Security of
such series not redeemed to less than the minimum denomination for a Security of
such series established herein or pursuant hereto.

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

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

     Unless otherwise specified in or pursuant to this Indenture or the
Securities of any series, if any Security selected for partial redemption is
converted or exchanged for Common Stock or other securities or property in part
before termination of the conversion or exchange right with respect to the
portion of the Security so selected, the converted or exchanged portion of such
Security shall be deemed (so far as may be) to be the portion selected for
redemption. Securities which have been converted or exchanged during a selection
of Securities to be redeemed shall be treated by the Trustee as Outstanding for
the purpose of such selection.

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<PAGE>

     Section 1104. Notice of Redemption.

     Notice of redemption shall be given in the manner provided in Section 106,
not less than 30 nor more than 60 days prior to the Redemption Date, unless a
shorter period is specified in the Securities to be redeemed, to the Holders of
Securities to be redeemed. Failure to give notice by mailing in the manner
herein provided to the Holder of any Registered Securities designated for
redemption as a whole or in part, or any defect in the notice to any such
Holder, shall not affect the validity of the proceedings for the redemption of
any other Securities or portions thereof.

     Any notice that is mailed to the Holder of any Registered Securities in the
manner herein provided shall be conclusively presumed to have been duly given,
whether or not such Holder receives the notice.

     All notices of redemption shall state:

          (1) the Redemption Date,

          (2) the Redemption Price,

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

          (4) that, in case any Security is to be redeemed in part only, on and
     after the Redemption Date, upon surrender of such Security, the Holder of
     such Security will receive, without charge, a new Security or Securities of
     authorized denominations for the principal amount thereof remaining
     unredeemed,

          (5) that, on the Redemption Date, the Redemption Price shall become
     due and payable upon each such Security or portion thereof to be redeemed,
     together (if applicable) with accrued and unpaid interest, if any, thereon
     (subject, if applicable, to the provisos to the first paragraph of Section
     1106), and, if applicable, that interest thereon shall cease to accrue on
     and after said date,

          (6) the place or places where such Securities, together (in the case
     of Bearer Securities) with all Coupons appertaining thereto, if any,
     maturing after the Redemption Date, are to be surrendered for payment of
     the Redemption Price and any accrued interest and Additional Amounts
     pertaining thereto,

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

          (8) that, unless otherwise specified in such notice, Bearer Securities
     of any series, if any, surrendered for redemption must be accompanied by
     all Coupons maturing subsequent to the date fixed for redemption or the
     amount of any such missing Coupon or Coupons will be deducted from the
     Redemption Price, unless security or indemnity satisfactory to the Company,
     the Trustee and any Paying Agent is furnished,

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<PAGE>

          (9) if Bearer Securities of any series are to be redeemed and any
     Registered Securities of such series are not to be redeemed, and if such
     Bearer Securities may be exchanged for Registered Securities not subject to
     redemption on the Redemption Date pursuant to Section 305 or otherwise, the
     last date, as determined by the Company, on which such exchanges may be
     made,

          (10) in the case of Securities of any series that are convertible or
     exchangeable into Common Stock or other securities or property, the then
     current conversion or exchange price or rate, the date or dates on which
     the right to convert or exchange the principal of the Securities of such
     series to be redeemed will commence or terminate, as applicable, and the
     place or places where and the Persons to whom such Securities may be
     surrendered for conversion or exchange,

          (11) the CUSIP number or the Euroclear or the Cedel reference numbers
     of such Securities, if any (or any other numbers used by a Depository to
     identify such Securities), and

          (12) if the Redemption Price or any portion thereof shall be payable,
     at the option of the Company or any Holders, in cash or in Common Stock or
     other securities or property (or a combination thereof), a statement as to
     whether the Company has elected to pay the Redemption Price in cash or
     Common Stock or other securities or property or a combination thereof and,
     if applicable, the portion of the Redemption Price that is to be paid in
     cash, common stock or other securities or property.

     A notice of redemption published as contemplated by Section 106 need not
identify particular Registered Securities to be redeemed.

     Notice of redemption of Securities to be redeemed at the election of the
Company shall be given by the Company or, at the Company's request, by the
Trustee in the name and at the expense of the Company.

     Section 1105. Deposit of Redemption Price.

     On or prior to noon (local time in New York City) on any Redemption Date,
the Company shall deposit, with respect to the Securities of any series called
for redemption pursuant to Section 1104, with the Trustee or with a Paying Agent
(or, if the Company is acting as its own Paying Agent, segregate and hold in
trust as provided in Section 1003) an amount of money in the applicable Currency
sufficient to pay the Redemption Price of, and (except if the Redemption Date
shall be an Interest Payment Date, unless otherwise specified pursuant to
Section 301 for or in the Securities of such series) any accrued interest on and
Additional Amounts with respect to, all such Securities or portions thereof
which are to be redeemed on that date, except that, if the Securities of such
series are convertible or exchangeable into Common Stock or other securities or
property, no such deposit shall be required with respect to any such Securities
(or portions thereof) which have been converted or exchanged prior to such
Redemption Date.

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<PAGE>

     Section 1106. Securities Payable on Redemption Date.

     Notice of redemption having been given as aforesaid, the Securities so to
be redeemed (except, in the case of Securities which are convertible or
exchangeable into Common Stock or other securities or property, any such
Securities which shall have been so converted or exchanged prior to the
applicable Redemption Date) shall, on the Redemption Date, become due and
payable at the Redemption Price therein specified, together with (unless
otherwise provided with respect to the Securities of such series pursuant to
Section 301) accrued and unpaid interest, if any, thereon and from and after
such date (unless the Company shall default in the payment of the Redemption
Price and accrued interest, if any) such Securities shall cease to bear interest
and the Coupons for such interest appertaining to any Bearer Securities so to be
redeemed, except to the extent provided below, shall be void. Upon surrender of
any such Security for redemption in accordance with said notice, together with
all Coupons, if any, appertaining thereto maturing after the Redemption Date,
such Security shall be paid by the Company at the Redemption Price, together
with, unless otherwise provided in or pursuant to this Indenture, any accrued
and unpaid interest thereon and Additional Amounts with respect thereto to but
excluding the Redemption Date; provided, however, that, except as otherwise
provided in or pursuant to this Indenture or the Bearer Securities of such
series, installments of interest on Bearer Securities whose Stated Maturity is
on or prior to the Redemption Date shall be payable only upon presentation and
surrender of Coupons for such interest (at an Office or Agency located outside
the United States except as otherwise provided in Section 1002), and provided,
further, that, except as otherwise specified in or pursuant to this Indenture or
the Registered Securities of such series, installments of interest on Registered
Securities whose Stated Maturity is on or prior to the Redemption Date shall be
payable to the Holders of such Securities, or one or more Predecessor
Securities, registered as such at the close of business on the Regular Record
Dates therefor according to their terms and the provisions of Section 307.

     If any Bearer Security surrendered for redemption shall not be accompanied
by all appurtenant Coupons maturing after the Redemption Date, such Security may
be paid after deducting from the Redemption Price or, at the option of the
Company, after payment to the Trustee for the benefit of the Company of, an
amount equal to the face amount of all such missing Coupons, or the surrender of
such missing Coupon or Coupons may be waived by the Company and the Trustee if
there be furnished to them such security or indemnity as they may require to
save each of them and any Paying Agent harmless. If thereafter the Holder of
such Security shall surrender to the Trustee or any Paying Agent any such
missing Coupon in respect of which a deduction shall have been made from the
Redemption Price, such Holder shall be entitled to receive the amount so
deducted; provided, however, that any interest or Additional Amounts represented
by Coupons shall be payable only upon presentation and surrender of those
Coupons at an Office or Agency for such Security located outside of the United
States except as otherwise provided in Section 1002.

     If any Security called for redemption shall not be so paid upon surrender
thereof for redemption, the principal and any premium, until paid, shall bear
interest from the Redemption Date at the rate prescribed therefor in the
Security or, if no rate is prescribed therefor in the Security, at the rate of
interest, if any, borne by such Security.

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<PAGE>

     Section 1107. Securities Redeemed in Part.

     Any Registered Security which is to be redeemed only in part shall be
surrendered at any Office or Agency for such Security (with, if the Company or
the Trustee so requires, due endorsement by, or a written instrument of transfer
in form satisfactory to the Company and the Trustee duly executed by, the Holder
thereof or his attorney duly authorized in writing) and the Company shall
execute and the Trustee shall authenticate and deliver to the Holder of such
Security without service charge, a new Registered Security or Securities of the
same series, containing identical terms and provisions, of any authorized
denomination as requested by such Holder in aggregate principal amount equal to
and in exchange for the unredeemed portion of the principal of the Security so
surrendered. If a Security in global form is so surrendered, the Company shall
execute, and the Trustee shall authenticate and deliver to the Depository for
such Security in global form as shall be specified in the Company Order with
respect thereto to the Trustee, without service charge, a new Security in global
form in a denomination equal to and in exchange for the unredeemed portion of
the principal of the Security in global form so surrendered.

                                 ARTICLE TWELVE

                                  SINKING FUNDS

     Section 1201. Applicability of Article.

     The provisions of this Article shall be applicable to any sinking fund for
the retirement of Securities of a series, except as otherwise permitted or
required in or pursuant to this Indenture or any Security of such series issued
pursuant to this Indenture.

     The minimum amount of any sinking fund payment provided for by the terms of
Securities of any series is herein referred to as a "mandatory sinking fund
payment", and any payment in excess of such minimum amount provided for by the
terms of Securities of such series is herein referred to as an "optional sinking
fund payment". If provided for by the terms of Securities of any series, the
cash amount of any sinking fund payment may be subject to reduction as provided
in Section 1202. Each sinking fund payment shall be applied to the redemption of
Securities of any series as provided for by the terms of Securities of such
series and this Indenture.

     Section 1202. Satisfaction of Sinking Fund Payments with Securities.

     The Company may, in satisfaction of all or any part of any sinking fund
payment with respect to the Securities of any series to be made pursuant to the
terms of such Securities (1) deliver Outstanding Securities of such series
(other than any of such Securities previously called for redemption or any of
such Securities in respect of which cash shall have been released to the
Company), together in the case of any Bearer Securities of such series with all
unmatured Coupons appertaining thereto, and (2) apply as a credit Securities of
such series which have been redeemed either at the election of the Company
pursuant to the terms of such series of Securities or through the application of
permitted optional sinking fund payments pursuant to the terms of

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<PAGE>

such Securities, provided that such Securities have not been previously so
credited. Such Securities shall be received and credited for such purpose by the
Trustee at the Redemption Price specified in such Securities for redemption
through operation of the sinking fund and the amount of such sinking fund
payment shall be reduced accordingly. If as a result of the delivery or credit
of Securities of any series in lieu of cash payments pursuant to this Section
1202, the principal amount of Securities of such series to be redeemed in order
to exhaust the aforesaid cash payment shall be less than $100,000, the Trustee
need not call Securities of such series for redemption, except upon Company
Request, and such cash payment shall be held by the Trustee or a Paying Agent
and applied to the next succeeding sinking fund payment, provided, however, that
the Trustee or such Paying Agent shall at the request of the Company from time
to time pay over and deliver to the Company any cash payment so being held by
the Trustee or such Paying Agent upon delivery by the Company to the Trustee of
Securities of that series purchased by the Company having an unpaid principal
amount equal to the cash payment requested to be released to the Company.

     Section 1203. Redemption of Securities for Sinking Fund.

     Not less than 75 days prior to each sinking fund payment date for any
series of Securities, the Company shall deliver to the Trustee an Officers'
Certificate specifying the amount of the next ensuing mandatory sinking fund
payment for that series pursuant to the terms of that series, the portion
thereof, if any, which is to be satisfied by payment of cash and the portion
thereof, if any, which is to be satisfied by delivering and crediting of
Securities of that series pursuant to Section 1202, and the optional amount, if
any, to be added in cash to the next ensuing mandatory sinking fund payment, and
will also deliver to the Trustee any Securities to be so credited and not
theretofore delivered. If such Officers' Certificate shall specify an optional
amount to be added in cash to the next ensuing mandatory sinking fund payment,
the Company shall thereupon be obligated to pay the amount therein specified.
Not less than 60 days before each such sinking fund payment date the Trustee
shall select the Securities to be redeemed upon such sinking fund payment date
in the manner specified in Section 1103 and cause notice of the redemption
thereof to be given in the name of and at the expense of the Company in the
manner provided in Section 1104. Such notice having been duly given, the
redemption of such Securities shall be made upon the terms and in the manner
stated in Sections 1106 and 1107.

                                ARTICLE THIRTEEN

                       REPAYMENT AT THE OPTION OF HOLDERS

     Section 1301. Applicability of Article.

     Securities of any series which are repayable at the option of the Holders
thereof before their Stated Maturity shall be repaid in accordance with the
terms of the Securities of such series. The repayment of any principal amount of
Securities pursuant to such option of the Holder to require repayment of
Securities before their Stated Maturity, for purposes of Section 309, shall not
operate as a payment, redemption or satisfaction of the indebtedness represented
by such Securities unless and until the Company, at its option, shall deliver or
surrender the same to the Trustee with a directive that such Securities be
cancelled. Notwithstanding anything to the

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contrary contained in this Section 1301, in connection with any repayment of
Securities, the Company may arrange for the purchase of any Securities by an
agreement with one or more investment bankers or other purchasers to purchase
such Securities by paying to the Holders of such Securities on or before the
applicable repayment date an amount not less than the repayment price payable by
the Company on repayment of such Securities, and the obligation of the Company
to pay the repayment price of such Securities shall be satisfied and discharged
to the extent such payment is so paid by such purchasers.

     Unless otherwise expressly stated in this Indenture or pursuant to Section
301 with respect to the Securities of any series or unless the context otherwise
requires, all references in this Indenture to the repayment of Securities at the
option of the Holders thereof (and all references of like import) shall be
deemed to include a reference to the repurchase of Securities at the option of
the Holders thereof.

                                ARTICLE FOURTEEN

                        SECURITIES IN FOREIGN CURRENCIES

     Section 1401. Applicability of Article.

     Whenever this Indenture provides for (i) any action by, or the
determination of any of the rights of, Holders of Securities of any series in
which not all of such Securities are denominated in the same Currency or (ii)
any distribution to Holders of Securities of any series in which not all of such
Securities are denominated in the same Currency, in the absence of any provision
to the contrary in or pursuant to this Indenture or the Securities of such
series, any amount in respect of any Security denominated in a Currency other
than Dollars shall be treated for any such action, determination or distribution
as that amount of Dollars that could be obtained for such amount on such
reasonable basis of exchange and as of the record date with respect to
Registered Securities of such series (if any) for such action, determination or
distribution (or, if there shall be no applicable record date, such other date
reasonably proximate to the date of such distribution) as the Company may
specify in a written notice to the Trustee or, in the absence of such written
notice, as the Trustee may determine.

                                ARTICLE FIFTEEN

                        MEETINGS OF HOLDERS OF SECURITIES

     Section 1501. Purposes for Which Meetings May Be Called.

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

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     Section 1502. Call, Notice and Place of Meetings.

     (1) The Trustee may at any time call a meeting of Holders of Securities of
any series for any purpose specified in Section 1501, to be held at such time
and at such place in the Borough of Manhattan, The City of New York, or, if
Securities of such series have been issued in whole or in part as Bearer
Securities, in London or in such place outside the United States as the Trustee
shall determine. Notice of every meeting of Holders of Securities of any series,
setting forth the time and the place of such meeting and in general terms the
action proposed to be taken at such meeting, shall be given, in the manner
provided in Section 106, not less than 21 nor more than 180 days prior to the
date fixed for the meeting.

     (2) In case at any time the Company (by or pursuant to a Board Resolution)
or the Holders of at least 10% in principal amount of the Outstanding Securities
of any series shall have requested the Trustee to call a meeting of the Holders
of Securities of such series for any purpose specified in Section 1501, by
written request setting forth in reasonable detail the action proposed to be
taken at the meeting, and the Trustee shall not have mailed notice of or made
the first publication of the notice of such meeting within 21 days after receipt
of such request (whichever shall be required pursuant to Section 106) or shall
not thereafter proceed to cause the meeting to be held as provided herein, then
the Company or the Holders of Securities of such series in the amount above
specified, as the case may be, may determine the time and the place in the
Borough of Manhattan, The City of New York, or, if Securities of such series are
to be issued as Bearer Securities, in London for such meeting and may call such
meeting for such purposes by giving notice thereof as provided in clause (1) of
this Section.

     Section 1503. Persons Entitled to Vote at Meetings.

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

     Section 1504. Quorum; Action.

     The Persons entitled to vote a majority in principal amount of the
Outstanding Securities of a series shall constitute a quorum for a meeting or
duly reconvened meeting of Holders of Securities of such series; provided,
however, that if any action is to be taken at such meeting with respect to a
consent or waiver which this Indenture expressly provides may be given by the
Holders of at least 66-2/3% in principal amount of the Outstanding Securities of
a series, the Persons entitled to vote 66-2/3% in principal amount of the
Outstanding Securities of such series shall constitute a quorum. In the absence
of a quorum within 30 minutes after the time appointed for any such meeting, the
meeting shall, if convened at the request of Holders of Securities of such
series, be dissolved. In any other case the meeting may be adjourned for a
period of not less than 10 days as determined by the chairman of the meeting
prior to the adjournment of such meeting. In the absence of a quorum at any such
adjourned meeting, such adjourned meeting

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may be further adjourned for a period of not less than 10 days as determined by
the chairman of the meeting prior to the adjournment of such adjourned meeting.
Notice of the reconvening of any adjourned meeting shall be given as provided in
Section 1502(1), except that such notice need be given only once not less than
five days prior to the date on which the meeting is scheduled to be reconvened.
Notice of the reconvening of an adjourned meeting shall state expressly the
percentage, as provided above, of the principal amount of the Outstanding
Securities of such series which shall constitute a quorum.

     Except as limited by the proviso to Section 902, any resolution presented
to a meeting or adjourned meeting duly reconvened at which a quorum is present
as aforesaid may be adopted only by the affirmative vote of the Holders of a
majority in principal amount of the Outstanding Securities of that series;
provided, however, that, except as limited by the proviso to Section 902, any
resolution with respect to any request, demand, authorization, direction,
notice, consent, waiver or other Act which this Indenture expressly provides may
be made, given or taken by the Holders of at least 66-2/3% in principal amount
of the Outstanding Securities of a series may be adopted at a meeting or an
adjourned meeting duly convened and at which a quorum is present as aforesaid
only by the affirmative vote of the Holders of at least 66-2/3% in principal
amount of the Outstanding Securities of that series; and provided, further,
that, except as limited by the proviso to Section 902, any resolution with
respect to any request, demand, authorization, direction, notice, consent,
waiver or other Act which this Indenture expressly provides may be made, given
or taken by the Holders of a specified percentage, which is less than a
majority, in principal amount of the Outstanding Securities of a series may be
adopted at a meeting or an adjourned meeting duly reconvened and at which a
quorum is present as aforesaid by the affirmative vote of the Holders of such
specified percentage in principal amount of the Outstanding Securities of such
series.

     Any resolution passed or decision taken at any meeting of Holders of
Securities of any series duly held in accordance with this Section shall be
binding on all the Holders of Securities of such series and the Coupons
appertaining thereto, whether or not such Holders were present or represented at
the meeting.

     Section 1505. Determination of Voting Rights; Conduct and Adjournment of
Meetings.

     (1) Notwithstanding any other provisions of this Indenture, the Trustee may
make such reasonable regulations as it may deem advisable for any meeting of
Holders of Securities of such series in regard to proof of the holding of
Securities of such series and of the appointment of proxies and in regard to the
appointment and duties of inspectors of votes, the submission and examination of
proxies, certificates and other evidence of the right to vote, and such other
matters concerning the conduct of the meeting as it shall deem appropriate.
Except as otherwise permitted or required by any such regulations, the holding
of Securities shall be proved in the manner specified in Section 104 and the
appointment of any proxy shall be proved in the manner specified in Section 104
or by having the signature of the person executing the proxy witnessed or
guaranteed by any trust company, bank or banker authorized by Section 104 to
certify to the holding of Bearer Securities. Such regulations may provide that
written instruments appointing proxies, regular on their face, may be presumed
valid and genuine without the proof specified in Section 104 or other proof.

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     (2) The Trustee shall, by an instrument in writing, appoint a temporary
chairman of the meeting, unless the meeting shall have been called by the
Company or by Holders of Securities as provided in Section 1502(2), in which
case the Company or the Holders of Securities of the series calling the meeting,
as the case may be, shall in like manner appoint a temporary chairman. A
permanent chairman and a permanent secretary of the meeting shall be elected by
vote of the Persons entitled to vote a majority in principal amount of the
Outstanding Securities of such series represented at the meeting.

     (3) At any meeting, each Holder of a Security of such series or proxy shall
be entitled to one vote for each $1,000 principal amount of Securities of such
series held or represented by him; provided, however, that no vote shall be cast
or counted at any meeting in respect of any Security challenged as not
Outstanding and ruled by the chairman of the meeting to be not Outstanding. If
the Securities of such series are issuable in minimum denominations of less than
$1,000, then a Holder of such a Security in a principal amount of less than
$1,000 shall be entitled to a fraction of one vote which is equal to the
fraction that the principal amount of such Security bears to $1,000. The
chairman of the meeting shall have no right to vote, except as a Holder of a
Security of such series or proxy.

     (4) Any meeting of Holders of Securities of any series duly called pursuant
to Section 1502 at which a quorum is present may be adjourned from time to time
by Persons entitled to vote a majority in principal amount of the Outstanding
Securities of such series represented at the meeting; and the meeting may be
held as so adjourned without further notice.

     Section 1506. Counting Votes and Recording Action of Meetings.

     The vote upon any resolution submitted to any meeting of Holders of
Securities of any series shall be by written ballots on which shall be
subscribed the signatures of the Holders of Securities of such series or of
their representatives by proxy and the principal amounts and serial numbers of
the Outstanding Securities of such series held or represented by them. The
permanent chairman of the meeting shall appoint two inspectors of votes who
shall count all votes cast at the meeting for or against any resolution and who
shall make and file with the secretary of the meeting their verified written
reports in triplicate of all votes cast at the meeting. A record, at least in
triplicate, of the proceedings of each meeting of Holders of Securities of any
series shall be prepared by the secretary of the meeting and there shall be
attached to said record the original reports of the inspectors of votes on any
vote by ballot taken thereat and affidavits by one or more persons having
knowledge of the facts setting forth a copy of the notice of the meeting and
showing that said notice was given as provided in Section 1502 and, if
applicable, Section 1504. Each copy shall be signed and verified by the
affidavits of the permanent chairman and secretary of the meeting and one such
copy shall be delivered to the Company, and another to the Trustee to be
preserved by the Trustee, the latter to have attached thereto the ballots voted
at the meeting. Any record so signed and verified shall be conclusive evidence
of the matters therein stated.

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                                ARTICLE SIXTEEN

                           SUBORDINATION OF SECURITIES

     Section 1601. Agreement to Subordinate.

     The Company, for itself, its successors and assigns, covenants and agrees,
and each Holder of Securities of any series by his acceptance thereof, likewise
covenants and agrees, that the payment of the principal of (and premium, if any)
and interest, if any, on, and Additional Amounts, if any, in respect of each and
all of the Securities of such series shall be expressly subordinated, to the
extent and in the manner provided in the Subordination Provisions established
with respect to the Securities of such series pursuant to Section 301(25)
hereof, in right of payment to the prior payment in full of all Senior
Indebtedness with respect to such series.

                                    * * * * *

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

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

                                        PULTE HOMES, INC.

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

[SEAL]

Attest:
        -----------------------------

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

                                        ---------------------------------------,
                                        as Trustee

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

[SEAL]

Attest:
        -----------------------------

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

                                       84

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