Document:

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                                                                    Exhibit 10.2

                             EMPLOYMENT AGREEMENT

        AGREEMENT made as of the 1st day of April, 2001, between CONESTOGA
ENTERPRISES, INC., a Pennsylvania business corporation, having its principal
office in the Borough of Birdsboro, County of Berks and State of Pennsylvania
(hereinafter called "Employer") and ALBERT H. KRAMER, of 1932 Heatherton Drive,
Lancaster, Pennsylvania 17601 (hereinafter called the "Employee").

A G R E E M E N T

        1.  Employment. The Employer employs the Employee and the Employee
accepts employment by Employer and its subsidiaries and affiliates, upon the
terms and conditions of this Agreement.

        2.  Term. The term of this Agreement shall be three (3) years commencing
on March 1, 2001 and shall terminate on February 28, 2004 (the "Term"). It is
the intention of the Employer and the Employee that this relationship shall
continue beyond the three (3) years period but either party may terminate the
same under the terms hereinafter set forth in this Agreement.

        3.  Compensation.

            (a) For all services rendered by the Employee, the Employer shall
(i) pay Employee a base salary of One Hundred Eighty-five Thousand Five Hundred
Dollars ($185,000.00) per year ("Salary"), payable in equal weekly installments
at the end of each week, (ii) include the Employee as a participant in the
Employer's Executive Incentive Plan, (iii) include the Employee as a participant
in the Employer's salaried employees' benefit programs; and (iv) provide an
automobile to Employee. Salary payments shall be subject to withholding and
other applicable taxes.

            (b) Employer will review Employee's compensation on an annual basis
along with the review of all its management employees.

        4.  Duties. The Employee shall serve as the Employer's President at the
discretion of Employee's Board of Directors. The exact responsibilities for the
position are set forth in the job description for President of the Employer. A
copy of said job description is attached hereto and referred to as Schedule A.

        5.  Extent of Services. The Employee shall devote his entire time and
attention to the Employer's business. During the term of this Agreement, the
Employee shall not engage in any other business activity, regardless of whether
it is pursued for gain or profit. Employee, however, may invest his assets in
other companies so long as they do not require the Employee's services in the
operation of their affairs. Employer is aware that Employee is Vice-President of
BKM Enterprises, and does attend stockholders, directors and officers meetings.
Employer does not object to Employee's continued participation in this Company
so long as it remains passive and does not interfere with the performance of his
duties as President.

        6.  Working Facilities. The Employee shall have a private office,
stenographic help, a personal computer and other facilities and services that
are suitable to his position and appropriate for the performance of his duties.

        7.  Disclosure of Information. The Employee acknowledges that the list
of the Employer's customers, as the Employer may determine from time to time, is
a valuable, special and unique asset of the Employer's business. The Employee
shall not, during and after the term of his employment, disclose all or any part
of the Employer's customer list to any person, firm, corporation, association,
or other entity for any reason or purpose. In the event of the Employee's breach
or threatened breach of this paragraph, the Employer shall be entitled to a
preliminary restraining order and an injunction restraining and enjoining the

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Employee from disclosing all or any part of the Employer's customer list to any
person, firm, corporation, association, or other entity for any reason or
purpose and from rendering any services to any person, firm, corporation,
association, or other entity to whom all or any part of such list has been, or
is threatened to be, disclosed. In addition to or in lieu of the above, the
Employer may pursue all other remedies available to the Employer for such breach
or threatened breach, including the recovery of damages from the Employee.

        8.  Expenses. The Employer shall reimburse Employee for all reasonable
and necessary expenses incurred in carrying out his duties under this Agreement.
Employee shall present to the Employer, from time to time, an itemized account
of such expenses in any form required by the Employer.

        9.  Vacations. The Employee shall be entitled each year to a vacation of
four (4) weeks, during which time his compensation shall be paid in full.

        10. Termination By Employee. Employee may, without cause, terminate this
Agreement by giving sixty (60) days written notice to the Employer. In such
event, the Employee shall continue to render his services and shall be paid his
regular compensation up until the date of termination.

        11. Termination for Proper Cause. Employer may terminate Employee's
employment at any time for "proper cause". Proper cause for the termination of
Employee's employment shall be as follows:

            (a)   Violation by Employee of the restrictive covenants set forth
in paragraph 7 hereof ;
            (b)   Employee's dishonest or illegal conduct; or
            (c)   Employee's willful dereliction of his duties to the Company.

        12. Severance Compensation.

            12.1  General Rule. Unless the provisions of Paragraph 12.2 apply,
in the event of the termination of the Employee's employment by the Employer,
other than for cause, prior to the expiration of the Term, the Employer shall be
obligated to pay to the Employee, within fifteen (15) days after the date of
termination, in a lump sum an amount equal to the aggregate Salary, determined
as of the date of termination of employment, otherwise payable to the Employee
for the balance of the Term, but in no event less than eighteen (18) months.

            12.2  Change of Control. If, during the Term, the Employee's
employment with the Employer is terminated after a change of control, as defined
below, (hereinafter called "Control Termination"), either by the Employee or by
the Employer, the Employer shall pay to the Employee the Employee's annual
salary, determined as of the date of the Control Termination, for a period of
three (3) years from and after the date of the Control Termination in such
periodic installments as were being paid at the time of the Control Termination.
The Employer shall be obligated to make such payment in lieu of, and not in
addition to, the Employer's payment obligations under Paragraph 12.1. For
purposes of this Agreement, a change of control shall be deemed to have occurred
in the event of: (i) the acquisition, directly or indirectly, by any person or
entity, or persons or entities acting in concert, whether by purchase, merger,
consolidation or otherwise, of voting power over that number of voting shares of
the capital stock of the Employer which, when combined with the existing voting
power of such persons or entities, would enable them to cast fifty percent (50%)
or more of the votes which all shareholders of the Employer would be entitled to
cast in the election of directors of the Employer, or (ii) the sale, lease,
exchange or other transfer (in one transaction or a series of related
transactions) of all, or substantially all, of the assets of the Employer to a
transferee other than Employer or an entity of which a controlling interest is
owned by Employer.

            12.3  Termination for Cause. In the event of the termination of the
Employee's employment at any time by the Employer for cause, except for a
Control Termination, the Employer shall have no obligation to pay the Employee
any sums following the termination of his employment.

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          13.  Death During Employment. If the Employee dies during the term of
employment, the Employer shall pay to the Employee's estate the compensation
that would otherwise be payable to the Employee up to the end of the month in
which his death occurs. In addition, if Employee qualifies under the terms of
the Employer's existing life insurance coverage, Employer will provide life
insurance on the life of Employee amounting to two and one-half (2-1/2) times
his annual salary up to a maximum of Three Hundred Thousand Dollars
($300,000.00).

          14.  Restricted Covenant. For a period of three (3) years after the
termination or expiration of this Agreement, except for a termination under
Paragraph 12.2 the Employee shall not within Berks County or Union County,
Pennsylvania, directly or indirectly, own, manage, operate, control, be employed
by, participate in, or be connected in any manner with the ownership,
management, operation or control of any business similar and competitive to the
type of business conducted by the Employer at the time this Agreement
terminates. In the event of the Employee's actual or threatened breach of this
paragraph, the Employer shall be entitled to a preliminary restraining order and
injunction restraining the Employee from violating its provisions. Nothing in
this Agreement shall be construed to prohibit the Employer from pursuing any
other available remedies for such breach or threatened breach, including the
recovery of damages from the Employee.

          15.  Arbitration. Any controversy or claim arising out of, or relating
to this Agreement, or its breach, shall be settled by arbitration in the City of
Reading in accordance with the then governing rules of the American Arbitration
Association. Judgment upon the award rendered may be entered and enforced in any
court of competent jurisdiction.

          16.  Notices. Any notice required or desired to be given under this
Agreement shall be deemed given if in writing and sent by certified mail, return
receipt requested, to the Employee's residence or to the Employer's principal
office, as the case may be.

          17.  Waiver of Breach. The Employer's waiver of a breach of any
provision in this Agreement by the Employee shall not operate or be construed as
a waiver of any subsequent breach by the Employee. No waiver shall be valid
unless in writing and signed by an authorized officer of the Employer.

          18.  Assignment. The Employee acknowledges that his services are
unique and personal. Accordingly, the Employee may not assign his rights or
delegate his duties or obligations under this Agreement. The Employer's rights
and obligations under this Agreement shall inure to the benefit of, and shall be
binding upon, the Employer's successors and assigns.

          19.  Entire Agreement. This Agreement contains the entire
understanding of the parties. It may not be changed orally but only by an
agreement in writing signed by the party against whom enforcement of any waiver,
change, modification, extension, or discharge is sought.

          20.  Headings. Headings in this Agreement are for convenience only and
shall not be used to interpret or construe its provisions.

          21.  Counterparts. This Agreement may be executed in two (2) or more
counterparts, each of which shall be deemed an original but all of which
together shall constitute one and the same instrument.

          IN WITNESS WHEREOF, the parties hereto have executed this Agreement
the day and year first above written.

                              CONESTOGA ENTERPRISES, INC.

                              By
                              Chairman

                              Attest

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                              Secretary
                                                                 (SEAL)
                                         Albert H. Kramer

                                      -78-Energy East Exhibit 4-4

Exhibit 4-4

 

 

________________________________________________________________________

 

 

ENERGY EAST CORPORATION

AND

JPMORGAN CHASE BANK

(formerly known as The Chase Manhattan Bank),

as Trustee

 

 

 

Fourth Supplemental Indenture

Dated as of November 14, 2001

To

Indenture

Dated as of August 31, 2000

 

5.75% Notes due November 15, 2006

 

 

________________________________________________________________________

                    FOURTH SUPPLEMENTAL INDENTURE, dated as of November 14, 2001 (this "Fourth Supplemental Indenture"), between ENERGY EAST CORPORATION, a corporation duly organized and existing under the laws of the State of New York (the "Company"), having its principal office at P.O. Box 12904, Albany, New York 12212-2904, and JPMORGAN CHASE BANK (formerly known as The Chase Manhattan Bank), a New York banking corporation, as Trustee (the "Trustee") under the Indenture dated as of August 31, 2000 between the Company and the Trustee (the "Original Indenture").

Recitals of the Company 

                    WHEREAS, the Company has executed and delivered the Original Indenture to the Trustee to provide for the issuance from time to time of its senior, unsecured debentures, notes or other evidences of indebtedness (the "Securities"), to be issued in one or more series as in the Original Indenture provided;

                    WHEREAS, pursuant to the terms of the Original Indenture, the Company desires to make, execute and deliver to the Trustee this Fourth Supplemental Indenture to the Original Indenture in order to establish the form and terms of, and to provide for the creation and issue of a new series of its Securities designated as the 5.75% Notes due November 15, 2006 (herein called the "Notes"), under the Original Indenture in the aggregate principal amount of $250,000,000;

                    WHEREAS, all things necessary to make the Notes, when executed by the Company and authenticated and delivered by the Trustee and issued upon the terms and subject to the conditions hereinafter and in the Original Indenture set forth, against payment therefor, the valid, binding and legal obligations of the Company and to make this Fourth Supplemental Indenture a valid, binding and legal agreement of the Company, have been done;

                    Now, Therefore, This Fourth Supplemental Indenture Witnesseth that for, and in consideration of, the premises and covenants contained in the Original Indenture and this Fourth Supplemental Indenture and the purchase of the Notes by the Holders thereof, it is mutually agreed and covenanted, for the equal and proportionate benefit of all Holders of the Notes, as follows:

ARTICLE ONE

DEFINED TERMS

                    Section 101.  Defined Terms.  Except as otherwise expressly provided in this Fourth Supplemental Indenture or in the form of Note set forth in Exhibit A hereto or otherwise clearly required by the context hereof or thereof, all capitalized terms used and not defined herein or in said form of Note that are defined in the Original Indenture shall have the meanings assigned to them in the Original Indenture.  The Original Indenture, as supplemented from time to time, including by this Fourth Supplemental Indenture, is hereafter referred to as the "Indenture."

ARTICLE TWO

TERMS OF THE NOTES

                    Section 201.  Establishment of the Notes.  There is hereby authorized a series of Securities designated the 5.75% Notes due November 15, 2006, limited in aggregate principal amount to $250,000,000 (except as provided in Section 301(2) of the Indenture and as set forth in the next sentence). The Company may, without the consent of the Holders of the Notes, provided that no Event of Default shall have occurred and be continuing, issue additional Notes in such principal amount as shall be determined by or pursuant to a Board Resolution and having the same ranking and the same interest rate, maturity and other terms as the Notes originally issued hereunder, which together with said additional Notes shall constitute a single series of Securities under the Indenture.  The Notes shall be substantially in the form of Note set forth in Exhibit A hereto. 

                    Section 202.  Terms of the Notes. The terms and provisions of the Notes as set forth in Exhibit A are hereby incorporated in and expressly made part of this Fourth Supplemental Indenture.

                    The Notes will mature and the principal thereof will be due and payable, together with all accrued and unpaid interest thereon, on November 15, 2006.

                    The Notes shall bear interest at the rate of 5.75% per annum.

                    The amount of interest payable on the Notes will be computed on the basis of a 360-day year consisting of twelve 30-day months.

                    Payment of the principal of (and premium, if any) and interest on the Notes will be made at the office or agency of the Company maintained for that purpose in the Borough of Manhattan, the City and State of New York, in such coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and private debts and in immediately available funds; provided, however, that at the option of the Company payment of interest may be made by wire transfer of immediately available funds to an account of the Person entitled thereto as such account shall be provided to the Security Registrar at least 10 days prior to the relevant payment date or by check in New York Clearinghouse Funds mailed to the address of the person entitled thereto as such address shall appear in the Security Register.

                    Initially the Notes will be issued in global form registered in the name of Cede & Co. (as nominee for The Depository Trust Company ("DTC"), the initial securities depositary for the Notes), and may bear such legends as DTC may reasonably request.  So long as the Notes are held solely in global form, the Regular Record Date shall be the Business Day immediately preceding the relevant Interest Payment Date; if the Notes are registered in the names of additional Holders, the Company shall have the right to select a Regular Record Date for such Notes, which shall be at least one Business Day but not more than 60 Business Days prior to the relevant Interest Payment Date.  So long as the Notes are outstanding in global form registered in the name of DTC or its nominee, all payments of principal, premium, if any, and interest will be made by the Company in immediately available funds.

                    No service charge shall be made for the registration of transfer or exchange of the Notes; provided, however, that the Company may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with the exchange or transfer.

                    The Notes shall not be superior in right of payment to, and shall rank pari passu with, all other unsecured and unsubordinated indebtedness of the Company.

                    The Notes shall be issued in minimum denominations of $1,000 or any integral multiple of $1,000 over such denomination.

ARTICLE THREE

SUNDRY PROVISIONS

                    Section 301.  Execution, Authentication and Delivery of the Notes.  Notes in the aggregate principal amount of $250,000,000, or in such greater principal amount as shall be permitted by Section 201, may, upon execution of this Fourth Supplemental Indenture, or from time to time thereafter, be executed by the Company and delivered to the Trustee for authentication, and the Trustee shall thereupon authenticate and deliver said Notes upon a Company Order without any further action by the Company.

                    Section 302.  Paying Agent and Security Registrar.  JPMorgan Chase Bank will be the Paying Agent and Security Registrar for the Notes.

                    Section 303.  Trustee Not Responsible for Recitals.  The recitals contained in this Fourth Supplemental Indenture shall be taken as the statements of the Company and the Trustee assumes no responsibility for their correctness.  The Trustee makes no representations as to the validity or sufficiency of this Fourth Supplemental Indenture.

                    Section 304. Incorporation of Indenture.  The Original Indenture, as supplemented by this Fourth Supplemental Indenture, is in all respects ratified and confirmed, and this Fourth Supplemental Indenture shall be deemed part of the Indenture in the manner and to the extent herein and therein provided.

                    Section 305. Governing Law. This Fourth Supplemental Indenture shall be governed by, and construed in accordance with, the laws of the State of New York, without regard to principles of conflicts of law except Section 5-1401 of the New York General Obligations Law.

                    Section 306.  Counterparts.  This Fourth Supplemental Indenture 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 one and the same instrument.

 

                    In Witness Whereof, the parties hereto have caused this Fourth Supplemental Indenture to be duly executed as of the day and year first above written.

 

	
ENERGY EAST CORPORATION

	

 

By:  /s/ Robert D. Kump                  

      Name:  Robert D. Kump

      Title:  Vice President and Treasurer

 

	
JP MORGAN CHASE BANK

(formerly known as The Chase Manhattan Bank),

      as Trustee

	

 

By:  /s/ Carol Ng                               

      Name:  Carol Ng

      Title:  Vice President

 

 

 

 

 

 

 

 

EXHIBIT A

 

 

                    [Unless this Certificate is presented by an authorized representative of The Depository Trust Company, a New York corporation ("DTC"), to the Company (as defined herein) or its agent for registration of transfer, exchange or payment, and any certificate issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein.]*

ENERGY EAST CORPORATION

5.75% NOTE DUE NOVEMBER 15, 2006

	
CUSIP ___________
	
$______________

	
No._____
	 

                    ENERGY EAST CORPORATION, a corporation duly organized and existing under the laws of the State of New York (hereinafter referred to as the "Company," which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to [CEDE & CO.]*, or registered assigns, the principal sum of _________________________ Dollars ($___________) on November 15, 2006 (the "Maturity Date") and to pay interest thereon in the manner and on the Interest Payment Dates set forth below at the rate of 5.75% per annum, from and including the date of issuance, or from the most recent Interest Payment Date (as defined below) to which interest has been paid or duly provided for, until the principal hereof is paid or made available for payment. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Except as provided in the Fourth Supplemental Indenture hereinafter referred to, "Regular Record Date" shall mean the May 1 and November 1 (whether or not a Business Day) next preceding such Interest Payment Date; "Interest Payment Date" shall mean May 15 and November 15 of each year, commencing May 15, 2002, to and including the Maturity Date.

                    Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture.

                    Payment of the principal of (and premium, if any) and interest on this Security will be made at the office or agency of the Company maintained for that purpose in the Borough of Manhattan, the City and State of New York, in such coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and private debts and in immediately available funds; 

_________________________

* For inclusion in Global Securities only.

provided, however, that at the option of the Company payment of interest may be made by wire transfer of immediately available funds to an account of the Person entitled thereto as such account shall be provided to the Security Registrar at least 10 days prior to the relevant payment date or by check in New York Clearinghouse Funds mailed to the address of the person entitled thereto as such address shall appear in the Security Register.

                    Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place.

                    Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

 

                    IN WITNESS WHEREOF, Energy East Corporation has caused this instrument to be duly executed under its corporate seal. 

Dated: __________

	
ENERGY EAST CORPORATION

	

 

By:                                                        

      Name 

      Title

 

 

Attest:

 

By:_________________________

     Name:

     Title:

 

 

TRUSTEE'S CERTIFICATE OF AUTHENTIFICATION

 

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

 

 

	
JP MORGAN CHASE BANK

(formerly known as The Chase Manhattan Bank),

      as Trustee

	

 

By:                                                        

      Authorized Officer

 

 

 

ENERGY EAST CORPORATION

5.75% NOTE DUE NOVEMBER 15, 2006

 

          This Security is one of a duly authorized issue of securities of the Company (the "Securities"), issued and to be issued in one or more series under an Indenture, dated as of August 31, 2000 (the "Original Indenture"), as supplemented by a First Supplemental Indenture dated as of August 31, 2000 (the "First Supplemental Indenture"), a Second Supplemental Indenture dated as of November 14, 2000 (the "Second Supplemental Indenture"), a Third Supplemental Indenture dated as of November 14, 2000 (the "Third Supplemental Indenture") and a Fourth Supplemental Indenture dated as of November 14, 2001 (the "Fourth Supplemental Indenture" and the Original Indenture, as so supplemented, the "Indenture"), between the Company and JPMorgan Chase Bank (formerly known as The Chase Manhattan Bank), a New York banking corporation, as Trustee (the "Trustee," which term includes any successor trustee under the Indenture), and reference is hereby made to the Indenture for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders and of the terms upon which the Securities are, and are to be, authenticated and delivered. [This Security is a Global Security representing the aggregate principal amount of the Company's 5.75% Notes Due November 15, 2006 set forth on the face hereof.]* The Securities of this series [of which this Global Security is a part]* are limited in aggregate principal amount to $250,000,000, except as provided in the Fourth Supplemental Indenture.

          Optional Redemption.  The Securities of this series are redeemable, in whole or in part, at any time, at the option of the Company, at a Redemption Price equal to the greater of: 

	100% of the principal amount of the Securities of this series then Outstanding to be redeemed, or

	the sum of the present values of the remaining scheduled payments of principal and interest thereon from the Redemption Date to the Maturity Date computed by discounting such payments to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at a rate equal to the sum of 15 basis points plus the Adjusted Treasury Rate on the third Business Day prior to the Redemption Date, as calculated by an Independent Investment Banker.

          "Adjusted Treasury Rate" means, with respect to any Redemption Date:

	the yield, under the heading which represents the average for the immediately preceding week, appearing in the most recently published statistical release designated "H.15(519)" or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System and which establishes yields

_________________________

* For inclusion in Global Securities only.

on actively traded U.S. Treasury securities adjusted to constant maturity under the caption "Treasury Constant Maturities," for the maturity corresponding to the Comparable Treasury Issue (if no maturity is within three months before or after the Remaining Life, yields for the two published maturities most closely corresponding to the Comparable Treasury Issue will be determined and the Adjusted Treasury Rate will be interpolated or extrapolated from such yields on a straight line basis, rounding to the nearest month); or

	if such release (or any successor release) is not published during the week preceding the calculation date or does not contain such yields, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date.

          "Business Day" means any day other than a Saturday or Sunday or a day in which banking institutions in New York City are authorized or obligated by law or executive order to close.

          "Comparable Treasury Issue" means the U.S. Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining term of the Securities of this series to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of such Securities ("Remaining Life") or, if, in the reasonable judgment of the Independent Investment Banker, there is no such security, then the Comparable Treasury Issue will mean the U.S. Treasury security or securities selected by an Independent Investment Banker as having an actual or interpolated maturity or maturities comparable to the remaining term of the Securities.

          "Comparable Treasury Price" means (1) the average of the Reference Treasury Dealer Quotations for the Redemption Date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Independent Investment Banker obtains fewer than five such Reference Treasury Dealer Quotations, the average of all such quotations.

          "Independent Investment Banker" means one of the Reference Treasury Dealers selected by the Company, or if any such firm is unwilling or unable to serve as such, an independent investment and banking institution of national standing appointed by the Company.

          "Reference Treasury Dealer" means each of Morgan Stanley & Co. Incorporated, UBS Warburg LLC, J.P. Morgan Securities Inc., Fleet Securities, Inc., HSBC Securities (USA) Inc., McDonald Investments Inc. and First Union Securities, Inc., and their respective successors; provided that if any of the foregoing ceases to be, and has no affiliate that is, a U.S. Government securities dealer (a "Primary Treasury Dealer"), the Company will substitute for it another Primary Treasury Dealer.

          "Reference Treasury Dealer Quotations" means, with respect to each Reference Treasury Dealer and any Redemption Date, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Independent Investment Banker at 5:00 p.m., New York City time, on the third Business Day preceding such Redemption Date.

          The Company will mail notice of redemption at least 30 days but not more than 60 days before the applicable Redemption Date to each Holder of the Securities of this series to be redeemed.  If the Company elects to partially redeem the Securities of this series, the Trustee will select in a fair and appropriate manner the Securities to be redeemed.  Notwithstanding Section 1104 of the Indenture, the notice of such redemption need not set forth the Redemption Price but only the manner of calculation thereof.  The Company shall give the Trustee notice of such Redemption Price immediately after the calculation thereof.

          Upon the payment of the Redemption Price plus accrued and unpaid interest, if any, to the date of redemption, interest will cease to accrue on and after the applicable Redemption Date on the Securities or portions thereof called for redemption.

          Usury.  The interest rate on the Securities of this series shall in no event be higher than the maximum rate permitted by New York law as the same may be modified by United States law of general application.

          Defeasance. The Indenture contains provisions for defeasance of (a) the entire Indebtedness evidenced by this Security and (b) certain restrictive covenants upon compliance by the Company with certain conditions set forth therein.

          Events of Default.  If an Event of Default with respect to Securities of this series shall occur and be continuing, the principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture.

          Amendment to Indenture; Waiver of Defaults. The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in principal amount of the Securities at the time Outstanding of all series to be affected (voting as a class). The Indenture contains provisions permitting the Holders of not less than a majority in aggregate principal amount of the Securities of all series with respect to which a default under the Indenture shall have occurred and be continuing (voting as one class), on behalf of the Holders of all Securities of all such series, to waive certain past defaults under the Indenture and their consequences. The Indenture also permits 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 Securities of such series, to waive compliance with certain provisions of the Indenture.  Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security.

          Obligations Unconditional. No reference herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of (and premium, if any) and interest, if any, on this Security at the times, place and rates, and in the coin or currency, herein prescribed.

          Transfer and Exchange.  [This Security shall be exchangeable for Securities registered in the names of Persons other than the Depositary with respect to such series or its nominee only as provided in Section 311 of the Original Indenture.  Securities so issued in exchange for this Security shall be of the same series, having the same interest rate, if any, and maturity and having the same terms as this Security, in authorized denominations and in the aggregate having the same principal amount as this Security and registered in such names as the Depositary for such Global Security shall direct.]* As provided in the Indenture and subject to certain limitations therein set forth, the transfer of a Security of the series of which this Security is a part is registrable in the Security Register, upon surrender of this Security for registration of transfer at the office or agency of the Company in any place where the principal of (and premium, if any) and interest, if any, on this Security are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Securities of this series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees.

          The Securities of this series are issuable only in registered form without coupons in minimum denominations of $1,000 or any integral multiple of $1,000 over such minimum denomination. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like aggregate principal amount of Securities of this series and of like tenor of a different authorized denomination, as requested by the Holder surrendering the same.

          No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith.

          Prior to due presentment of this 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 this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary.

          Governing Law. This Security shall be governed by and construed in accordance with the laws of the State of New York without regard to principles of conflict of law except Section 5-1401 of the New York General Obligations Law.

          All terms used in this Security which are defined in the Indenture and not otherwise defined herein shall have the meanings assigned to them in the Indenture.

_________________________

* For inclusion in Global Securities only.

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

ASSIGNMENT

FOR VALUE RECEIVED, the undersigned assigns and transfers this Security to:

(Insert assignee's social security or tax identification number)

(Insert address and zip code of assignee)

and irrevocably appoints

agent to transfer this Security on the Security Register.  The agent may substitute another to act for him or her.

Date: _____________________

	
Signature:                                                       

Signature Guarantee:                                      

 

 

(Sign exactly as your name appears on the other side of this Security)

SIGNATURE GUARANTEE

Signatures must be guaranteed by an "eligible guarantor institution" meeting the requirements of the Registrar, which requirements include membership or participation in the Security Transfer Agent Medallion Program ("STAMP") or such other "signature guarantee program" as may be determined by the Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended.

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