Document:

exh_4-3.htm

    Exhibit 4.3

     

    UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), NEW YORK, NEW YORK, TO THE
COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY
CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR 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.

     

    TRANSFERS
OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART,
TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR'S NOMINEE AND
TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE
IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON
THE REVERSE HEREOF.

     

    THIS
SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE "SECURITIES ACT"). THE HOLDER HEREOF, BY PURCHASING THIS SECURITY, AGREES
FOR THE BENEFIT OF THE COMPANY THAT THIS SECURITY MAY NOT BE RESOLD, PLEDGED OR
OTHERWISE TRANSFERRED (X) PRIOR TO THE DATE SIX MONTHS AFTER THE DATE OF THE
ISSUANCE HEREOF (OR ANY PREDECESSOR SECURITY HERETO) OR (Y) BY ANY HOLDER THAT
WAS AN "AFFILIATE" (WITHIN THE MEANING OF RULE 144 OF THE SECURITIES ACT) OF THE
COMPANY AT ANY TIME DURING THE THREE MONTHS PRECEDING THE DATE OF
SUCH  TRANSFER, IN EITHER CASE, OTHER THAN (1) TO
THE  COMPANY, (2) SO LONG AS THIS SECURITY IS ELIGIBLE FOR RESALE
PURSUANT TO RULE 144A UNDER THE SECURITIES ACT ("RULE 144A"), TO A PERSON WHOM
THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE
MEANING OF RULE 144A, PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A
QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE RESALE, PLEDGE OR
OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A (AS INDICATED BY THE BOX
CHECKED BY THE TRANSFEROR ON THE CERTIFICATE OF TRANSFER ON THE REVERSE OF THIS
SECURITY), (3) IN AN OFFSHORE TRANSACTION (AS DEFINED UNDER REGULATION S UNDER
THE SECURITIES ACT) IN ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT (AS
INDICATED BY THE BOX CHECKED BY THE TRANSFEROR ON THE CERTIFICATE OF TRANSFER ON
THE REVERSE OF THIS SECURITY), (4) TO AN INSTITUTION THAT IS AN "ACCREDITED
INVESTOR" AS DEFINED IN RULE 501(a)(1), (2), (3) OR (7) UNDER THE SECURITIES ACT
(AS INDICATED BY THE BOX CHECKED BY THE TRANSFEROR ON THE CERTIFICATE OF
TRANSFER ON THE REVERSE OF THIS SECURITY) THAT IS ACQUIRING THIS SECURITY FOR
INVESTMENT PURPOSES AND NOT FOR DISTRIBUTION, AND A CERTIFICATE WHICH MAY BE
OBTAINED FROM THE COMPANY OR THE TRUSTEE IS DELIVERED BY THE TRANSFEREE TO THE
COMPANY AND TRUSTEE, (5) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE
SECURITIES ACT PROVIDED BY RULE 144 (IF APPLICABLE) UNDER THE SECURITIES ACT, OR
(6) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, IN
EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE
UNITED STATES.  AN INSTITUTIONAL ACCREDITED INVESTOR HOLDING THIS
SECURITY AGREES THAT IT WILL FURNISH TO THE COMPANY AND THE TRUSTEE SUCH
CERTIFICATES AND OTHER INFORMATION AS THEY MAY REASONABLY REQUIRE TO CONFIRM
THAT ANY TRANSFER BY IT OF THIS SECURITY COMPLIES WITH THE FOREGOING
RESTRICTIONS.  THE HOLDER HEREOF, BY PURCHASING THIS SECURITY,
REPRESENTS AND AGREES FOR THE BENEFIT OF THE COMPANY THAT IT IS (1) A QUALIFIED
INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A OR (2) PURCHASING FROM A
PERSON NOT PARTICIPATING IN THE INITIAL DISTRIBUTION OF THIS SECURITY (OR ANY
PREDECESSOR SECURITY), THAT IT IS AN INSTITUTION THAT IS AN "ACCREDITED
INVESTOR" AS DEFINED IN RULE 501(a)(1), (2), (3) OR (7) UNDER THE SECURITIES ACT
AND THAT IT IS HOLDING THIS SECURITY FOR INVESTMENT PURPOSES AND NOT FOR
DISTRIBUTION OR (3) A NON-U.S. PERSON OUTSIDE THE UNITED STATES WITHIN THE
MEANING OF (OR AN ACCOUNT SATISFYING THE REQUIREMENTS OF PARAGRAPH (k)(2)(i) OF
RULE 902 UNDER) REGULATION S UNDER THE SECURITIES ACT.

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    
      	
              No.
      1

            	
              Up
      to $500,000,000

            

    

     

     

     

     

    5.750%
Senior Note due 2018

     

    
      	 
    	
              CUSIP: 655844
    AY4

            
	 
    	
              ISIN:
    US655844AY43

            

    

     

    
 

    NORFOLK
SOUTHERN CORPORATION, a Virginia corporation, promises to pay to Cede & Co.,
or registered assigns, the principal sum as set forth on the Schedule of
Increases or Decreases annexed hereto on April 1, 2018.

     

    Interest
Payment Dates:  April 1 and October 1, commencing on October 1,
2008.

     

    Record
Dates:  March 15 and September 15.

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Additional
provisions of this Security are set forth on the other side of this
Security.

     

    IN
WITNESS WHEREOF, the parties have caused this instrument to be duly
executed.

     

    
      	 
    	
              NORFOLK
      SOUTHERN CORPORATION,

            
	 
    	 
    
	 
    	 
    
	 
    	
              By:

            	 
    	
              /s/
      William J. Romig

            
	 
    	 
    	
              Name:
      William J. Romig

            
	 
    	 
    	
              Title:
      Vice President and Treasurer

            

    

    TRUSTEE'S
CERTIFICATE OF

    AUTHENTICATION

     

    Dated:
April 4, 2008

     

    U.S.
BANK TRUST NATIONAL ASSOCIATION,

     

    as
Trustee, certifies

    that
this is one of

    the
Securities referred

    to
in the Indenture.

     

    By:___/s/ Patrick J.
Crowley____

    Authorized Signatory

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    REVERSE
SIDE OF NOTE

     

    5.750%
Senior Note due 2018

     

     

    
      	
              1.  

            	
              Interest

            

    

     

    (a) NORFOLK SOUTHERN CORPORATION, a Virginia
corporation (such corporation, and its successors and assigns under the
Indenture hereinafter referred to, being herein called the
"Company"), promises to pay interest on the principal amount of this Security at
the rate per annum shown above.  The Company will pay interest
semiannually on April 1 and October 1 of each year, commencing October 1,
2008.  Interest on the Securities will accrue
from the most recent date to which interest has been paid or, if no interest has
been paid, from April 4, 2008.  Interest shall be computed on the
basis of a 360-day year of twelve 30-day months.  The Company shall
pay interest on overdue principal at the
rate per annum borne by the Securities, and it shall pay interest on overdue
installments of interest at the rate per annum borne by the Securities to the
extent lawful.

     

    (b) Special
Interest.  The
holder of this Security is
entitled to the benefits of a Exchange and Registration Rights Agreement, dated
as of April 1, 2008, among the Company and the Initial Purchasers named therein
(the "Registration Agreement").  Capitalized terms used in this
paragraph (b) but not defined herein have the meanings assigned to
them in the Registration Agreement.  In the event that (i) the
Exchange Offer Registration Statement is not filed with the Commission on or
prior to the date which is 180 days following the date of the original
issuance of the Securities, (ii) the Exchange
Offer Registration Statement is not declared effective within 270 days after the
original issuance of the Securities, (iii) if the Exchange Offer Registration
Statement is declared effective, the Registered Exchange Offer is not consummated on or prior to
300 days after the date of the original issuance of Securities, (iv) if the
Company is required to file the Shelf Registration Statement in accordance with
the Registration Agreement, the Company does not so file the Shelf Registration Statement on or prior
to the 45th day after the Company's obligation to file such Shelf Registration
Statement arises, (v) if the Company is required to file the Shelf Registration
Statement in accordance with the Registration Agreement, the Shelf Registration Statement has not
been declared effective by the SEC on or prior to 90 days after the filing
obligation arises, or (vi)  any Suspension Periods exceed, in the
aggregate, 45 days during any 365-day period (each such event referred
to in clauses (i) through (v), a
"Registration Default"), the Company shall be obligated to pay Additional
Interest from and including the date on which the first such Registration
Default shall occur to but excluding the date on which all Registration
Defaults have been cured, at a rate of 0.25%
per annum on the applicable principal amount of Securities held by such Holder
for the first 90 day period immediately following the occurrence of a
Registration Default, and such rate will increase by an additional 0.25% with respect to each subsequent
90-day period until all Registration Defaults have been cured, provided that the maximum additional rate may in
no event exceed 0.50% per annum.

     

    
      	
              2.  

            	
              Method of
      Payment

            

    

     

    The
Company will pay interest on the Securities (except defaulted interest) to the
Persons who are registered Holders at the close of business on the March 15 or
September 15 next preceding the interest payment date even if Securities are
canceled after the record date and on or before the interest payment
date.  Holders must surrender Securities to a Paying Agent to collect
principal payments.  The Company will pay principal and interest in
money of the United States of America that at the time of payment is legal
tender for payment of public and private debts.  Payments in respect
of the Securities represented by a Global Security (including principal and
interest) will be made by wire transfer of immediately available funds to the
accounts specified by the Depository.  The Company will make all
payments in respect of a Definitive Security (including principal and interest),
by mailing a check to the registered address of each Holder thereof; provided, however, that
payments on the Securities may also be made, in the case of a Holder of at least
$1,000,000 aggregate principal amount of Securities, by wire transfer to a U.S.
dollar account maintained by the payee with a bank in the United States if such
Holder elects payment by wire transfer by giving written notice to the Trustee
or the Paying Agent to such effect designating such account no later than 30
days immediately preceding the relevant due date for payment (or such other date
as the Trustee may accept in its discretion).

     

    
      	
              3.  

            	
              Paying Agent and
      Registrar

            

    

     

    Initially,
U.S. Bank Trust National Association, a national banking association (the
"Trustee"), will act as Paying Agent and Registrar.  The Company may
appoint and change any Paying Agent, Registrar or co registrar without
notice.  The Company or any of its domestically incorporated Wholly
Owned Subsidiaries may act as Paying Agent, Registrar or
co-registrar.

     

    
      	
              4.  

            	
              Indenture

            

    

     

    The
Company issued the Securities under an Indenture, dated as of April 4, 2008 (the
"Indenture"), between the Company and the Trustee.  The terms of the
Securities include those stated in the Indenture and those made part of the
Indenture by reference to the Trust Indenture Act of 1939 (15 U.S.C. §§
77aaa-77bbbb) as in effect on the date of the Indenture (the
"TIA").  Terms defined in the Indenture and not defined in the
Securities have the meanings ascribed thereto in the Indenture.  The
Securities are subject to all such terms, and Holders are referred to the
Indenture and the TIA for a statement of those terms.

     

    The
Securities are unsubordinated, unsecured obligations of the
Company.  This Security is one of the Original Securities referred to
in the Indenture issued in an aggregate principal amount of
$600,000,000.  The Securities include the Original Securities, an
unlimited aggregate principal amount of additional Initial Securities that may
be issued under the Indenture, and any Exchange Securities issued in exchange
for Initial Securities.  The Original Securities, such additional
Initial Securities and the Exchange Securities are treated as a single class of
securities under the Indenture.  The Indenture imposes certain
limitations on the ability of the Company and its Restricted Subsidiaries to,
among other things, create or incur Liens or Funded Debt. The Indenture also
imposes limitations on the ability of the Company to consolidate or merge with
or into any other Person or sell, transfer, assign, lease, convey or otherwise
dispose of all or substantially all of the property of the Company.

     

    
      	
              5.  

            	
              Optional
      Redemption

            

    

     

    The
Securities will be redeemable as a whole or in part, at the option of the
Company at any time, at a redemption price equal to the greater of (i) 100% of
the principal amount of such Securities and (ii) the sum of the present values
of the remaining scheduled payments of principal and interest thereon (exclusive
of interest accrued to the date of redemption) discounted to the redemption date
on a semiannual basis (assuming a 360-day year consisting of twelve 30-day
months) at the Treasury Rate plus 35 basis points, plus in each case accrued
interest thereon to the date of redemption.

     

    "Treasury
Rate" means, with respect to any redemption date, the rate per annum equal to
the semiannual equivalent yield to maturity or interpolated (on a day count
basis) of the Comparable Treasury Issue, assuming 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.

     

    "Comparable
Treasury Issue" means the United States Treasury security or securities selected
by an Independent Investment Banker as having an actual or interpolated maturity
comparable to the remaining term of the Securities 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 a comparable
maturity to the remaining term of such Securities.

     

    "Independent
Investment Banker" means one of the Reference Treasury Dealers appointed by the
Trustee after consultation with the Company.

     

    "Comparable
Treasury Price" means, with respect to any redemption date, (A) the average of
the Reference Treasury Dealer Quotations for such redemption date, after
excluding the highest and lowest such Reference Treasury Dealer Quotations, or
(B) if the Trustee obtains fewer than five such Reference Treasury Dealer
Quotations, the average of all such quotations.

     

    "Reference
Treasury Dealer Quotations" means, with respect to each Reference Treasury
Dealer and any redemption date, the average, as determined by the Trustee, 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 Trustee
by such Reference Treasury Dealer at 3:30 p.m. New York time on the third
Business Day preceding such redemption date.

     

    "Reference
Treasury Dealer" means each of Barclays Capital Inc., Deutsche Bank Securities
Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and one other
broker-dealer appointed by the Company; or their respective affiliates which are
primary U.S. Government securities dealers, and their respective successors;
provided, however, that if any of the foregoing or their affiliates shall cease
to be a primary U.S. Government securities dealer in The City of New York (a
"Primary Treasury Dealer") or otherwise fails to provide a Reference Treasury
Dealer Quotation, the Company shall substitute therefor another Primary Treasury
Dealer.

     

    
      	
              6.  

            	
              Sinking
      Fund

            

    

     

    The
Securities are not subject to any sinking fund.

     

    
      	
              7.  

            	
              Notice of
      Redemption

            

    

     

    Notice
of redemption will be mailed by first-class mail at least 30 days but not more
than 60 days before the redemption date to each Holder of Securities to be
redeemed at his or her registered address.  Securities in
denominations larger than $2,000 may be redeemed in part but only in whole
multiples of $1,000.  If money sufficient to pay the redemption price
of and accrued interest on all Securities (or portions thereof) to be redeemed
on the redemption date is deposited with the Paying Agent on or before the
redemption date and certain other conditions are satisfied, on and after such
date interest ceases to accrue on such Securities (or such portions thereof)
called for redemption.

     

     

    
      	
              8.  

            	
              Repurchase of
      Securities at the Option of Holders upon Change of
      Control

            

    

     

    If
a Change of Control Repurchase Event occurs with respect to the Securities,
unless the Company has exercised its right to redeem the Securities as described
above, the Company will make an offer to each Holder of the Securities to
repurchase all or any part (in integral multiples of $1,000) of that Holder's
Securities at a repurchase price (the "Repurchase Price") in cash equal to 101%
of the aggregate principal amount of such Securities repurchased plus any
accrued and unpaid interest on the Securities repurchased to, but not including,
the Repurchase Date. A "Change of Control Repurchase Event" means the occurrence
of both a Change of Control and a Below Investment Grade Ratings Event with
respect to the Securities, each of which is defined in the Indenture. Within 30
days following a Change of Control Repurchase Event or, at the Company's option,
prior to a Change of Control, but after the public announcement of a Change of
Control, the Company will mail, or cause to be mailed, a notice to each Holder
of the Securities, with a copy to the Trustee, describing the transaction or
transactions that constitute or may constitute the Change of Control Repurchase
Event and offering to repurchase the Securities on the payment date specified in
the notice (such offer the "Repurchase Offer" and such date the "Repurchase
Date"), which Repurchase Date will be no earlier than 30 days and no later than
60 days from the date such notice is mailed. The notice shall, if mailed prior
to the date of consummation of the Change of Control, state that the Repurchase
Offer is conditioned on a Change of Control Repurchase Event occurring on or
prior to the Repurchase Date.

     

    The
Company will comply with the requirements of Rule 14e-1 under the Exchange Act,
and any other securities laws and regulations thereunder to the extent those
laws and regulations are applicable in connection with the repurchase of the
Securities as a result of a Change of Control Repurchase Event. To the extent
that the provisions of any securities laws or regulations conflict with the
Change of Control Repurchase Event provisions of the Securities, the Company
will comply with the applicable securities laws and regulations and will not be
deemed to have breached its obligations under the Change of Control Repurchase
Event provisions of the Securities by virtue of such conflict.

     

    On
the Repurchase Date following a Change of Control Repurchase Event, the Company
will, to the extent lawful:

     

    (1) accept for payment all Securities or
portions of Securities properly tendered pursuant to the Repurchase
Offer;

     

    (2) deposit with the Trustee or with such paying
agent as the Trustee may designate (the "Paying Agent") an amount equal to the
aggregate Repurchase Price for all Securities or portions of Securities properly
tendered; and

     

    (3) deliver, or cause to be delivered, to
the Trustee the Securities
properly accepted, together with an Officers' Certificate stating the aggregate
principal amount of Securities being repurchased by the Company pursuant to the
Repurchase Offer and that all conditions precedent to the repurchase by
the Company of Securities pursuant to the
Repurchase offer have been complied with.

     

    The
Trustee will promptly mail, or cause the Paying Agent promptly to mail, to each
Holder of Securities, or portions of Securities, properly tendered the
Repurchase Price for such Securities, or portions of Securities, and the Trustee
will promptly authenticate and mail (or cause to be transferred by book-entry)
to each Holder a new Security equal in principal amount to any unpurchased
portion of any Securities surrendered, as applicable; provided that each new
Security will be in a principal amount of an integral multiple of
$1,000.

     

    The
Company will not be required to make a Repurchase Offer upon a Change of Control
Repurchase Event if a third party makes such an offer in the manner, at the
times and otherwise in compliance with the requirements for such an offer made
by the Company and such third party purchases all Securities or portions of
Securities properly tendered and not withdrawn under its offer.

     

    The
Company may not have sufficient funds to repurchase all Securities or portions
of Securities properly tendered upon a Change of Control Repurchase
Event.

     

    
      	
              9.  

            	
              Denominations;
      Transfer; Exchange

            

    

     

    The
Securities are in registered form without coupons in denominations of $2,000 and
whole multiples of $1,000.  A Holder may transfer or exchange
Securities in accordance with the Indenture.  Upon any transfer or
exchange, the Registrar and the Trustee may require a Holder, among other
things, to furnish appropriate endorsements or transfer documents and to pay any
taxes required by law or permitted by the Indenture.  The Registrar
need not register the transfer of or exchange any Securities selected for
redemption (except, in the case of a Security to be redeemed in part, the
portion of the Security not to be redeemed) or to transfer or exchange any
Securities for a period of 15 days prior to a selection of Securities to be
redeemed or 15 days before an Interest Payment Date.

     

     

    
      	
              10.  

            	
              Persons Deemed
      Owners

            

    

     

    The
registered Holder of this Security may be treated as the owner of it for all
purposes.

     

    
      	
              11.  

            	
              Unclaimed
      Money

            

    

     

    If
money for the payment of principal or interest remains unclaimed for two years,
the Trustee or Paying Agent shall pay the money back to the Company at its
written request unless an abandoned property law designates another
Person.  After any such payment, Holders entitled to the money must
look only to the Company and not to the Trustee for payment.

     

    
      	
              12.  

            	
              Discharge

            

    

     

    Subject
to certain conditions, the Company at any time may terminate its obligations
under the Securities and the Indenture if the Company deposits with the Trustee
money or U.S. Government Obligations for the payment of principal and interest
on the Securities to redemption or maturity, as the case may be.

     

    
      	
              13.  

            	
              Amendment,
      Waiver

            

    

     

    The
Indenture contains provisions permitting the Company and the Trustee, with the
consent of the Holders of not less than a majority in principal amount of the
Outstanding Securities affected, to execute supplemental indentures for the
purpose of adding any provisions to the Indenture or of modifying in any manner
the rights of the Holders of the Security; provided, however, that no such
supplemental indenture shall (i) change the Stated Maturity of the principal of,
or any installment of principal of or interest on, any Security, or reduce the
principal amount thereof or any premium payable upon the redemption thereof or
the rate of interest thereon, or reduce the amount of principal of an OID
Security that would be due and payable upon a declaration of acceleration of the
Maturity thereof pursuant to Section 6.02 of the Indenture, or change any Place
of Payment where, or the coin or currency in which, any Security (or premium, if
any, thereon) or the interest thereon 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 (ii) reduce the percentage in principal amount of the Outstanding
Securities, the Holders of which are required to consent to any such
supplemental indenture or to any waiver of compliance with certain provisions or
certain defaults thereunder and their consequences provided for in the
Indenture; or (iii) modify any of the provisions of the Indenture relating to
supplemental indentures that require consent of Holders, the waiver of past
defaults or the waiver of certain covenants, except to increase any such
percentage or to provide that certain other provisions of the Indenture cannot
be modified or waived, without the consent of the Holders of each Outstanding
Security affected thereby, provided, however, that the consent of the Holders
shall not be required with respect to changes in the references to "the Trustee"
in Sections 9.02 and 4.09 of the Indenture or with respect to the deletion of
this proviso from the Indenture, in accordance with Sections 7.08 and 9.01(b) of
the Indenture.  The Indenture also contains provisions permitting the
Holders of not less than a majority in principal amount of the Outstanding
Securities affected thereby, on behalf of all of the Holders of the Securities,
to waive any past Default under the Indenture with respect to the Securities,
and its consequences, except a Default in the payment of the principal of, or
premium, if any, or interest on any Security or a Default in respect of a
covenant or provision of the Indenture which cannot be modified or amended
without the consent of the Holder of each Outstanding Security
affected.  Any such consent or waiver by the registered Holder of this
Security (unless revoked as provided in the Indenture) shall be conclusive and
binding upon such Holder and upon all future Holders and owners of this Security
and of any Security issued in exchange therefor or in place hereof (whether by
registration of transfer or otherwise), irrespective of whether or not any
notation of such consent or waiver is made upon this Security.

     

    
      	
              14.  

            	
              Defaults and
      Remedies

            

    

     

    If
an Event of Default occurs and is continuing, the Trustee or the Holders of at
least 25% in aggregate principal amount of the Securities then outstanding,
subject to certain limitations, may declare all the Securities to be immediately
due and payable.  Certain events of bankruptcy or insolvency are
Events of Default and shall result in the Securities being immediately due and
payable upon the occurrence of such Events of Default without any further act of
the Trustee or any Holder.

     

    Holders
of Securities may not enforce the Indenture or the Securities except as provided
in the Indenture.  The Trustee may refuse to enforce the Indenture or
the Securities unless it receives indemnity or security satisfactory to
it.  Subject to certain limitations, Holders of a majority in
aggregate principal amount of the Securities then outstanding may direct the
Trustee in its exercise of any trust or power under the
Indenture.  The Holders of a majority in aggregate principal amount of
the Securities then outstanding, by written notice to the Company and the
Trustee, may rescind any declaration of acceleration and its consequences if the
rescission would not conflict with any judgment or decree, and if all existing
Events of Default have been cured or waived except nonpayment of principal,
premium or interest that has become due solely because of the
acceleration.

     

    
      	
              15.  

            	
              Trustee Dealings with
      the Company

            

    

     

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

     

    
      	
              16.  

            	
              No Recourse Against
      Others

            

    

     

    A
director, officer, employee or stockholder, as such, of the Company shall not
have any liability for any obligations of the Company under the Securities or
the Indenture or for any claim based on, in respect of or by reason of such
obligations or their creation.  By accepting a Security, each
Securityholder waives and releases all such liability.  The waiver and
release are part of the consideration for the issue of the
Securities.

     

    
      	
              17.  

            	
              Successors

            

    

     

    Subject
to certain exceptions set forth in the Indenture, when a successor assumes all
the obligations of its predecessor under the Securities and the Indenture in
accordance with the terms of the Indenture, the predecessor will be released
from those obligations.

     

    
      	
              18.  

            	
              Authentication

            

    

     

    This
Security shall not be valid until an authorized signatory of the Trustee (or an
authenticating agent) manually signs the certificate of authentication on the
other side of this Security.

     

    
      	
              19.  

            	
              Abbreviations

            

    

     

    Customary
abbreviations may be used in the name of a Securityholder or an assignee, such
as TEN COM (=tenants in common), TENENT (=tenants by the entireties), JT TEN
(=joint tenants with rights of survivorship and not as tenants in common), CUST
(=custodian), and U/G/M/A (=Uniform Gift to Minors Act).

     

    
      	
              20.  

            	
              Governing
      Law

            

    

     

    THIS
SECURITY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE
STATE OF NEW YORK BUT WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF
CONFLICTS OF LAW.

     

    
      	
              21.  

            	
              CUSIP
      Numbers

            

    

     

    Pursuant
to a recommendation promulgated by the Committee on Uniform Security
Identification Procedures, the Company has caused CUSIP numbers to be printed on
the Securities and has directed the Trustee to use CUSIP numbers in notices of
redemption as a convenience to Holders.  No representation is made as
to the accuracy of such numbers either as printed on the Securities or as
contained in any notice of redemption and reliance may be placed only on the
other identification numbers placed thereon.

     

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

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    ASSIGNMENT
FORM

     

    To
assign this Security, fill in the form below:

     

    I
or we assign and transfer this Security to

     

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

     

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

     

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

     

    ___________________________________________________________

     

    Date:
________________ Your Signature: _____________________

     

    ____________________________________________________________

     

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

     

    In
connection with any transfer of any of the Securities evidenced by this
certificate occurring prior to the expiration of the period referred to in Rule
144(d)(1)(i) under the Securities Act after the later of the date of original
issuance of such Securities and the last date, if any, on which such Securities
were owned by the Company or any Affiliate of the Company, the undersigned
confirms that such Securities are being transferred in accordance with its
terms:

     

    CHECK
ONE BOX BELOW

     

    
      	
              (1)

            	
              □

            	
              to
      the Company; or

              
              

            
	
              (2)

            	
              □

            	
              pursuant
      to an effective registration statement under the Securities Act of 1933;
      or

              
              

            
	
              (3)

            	
              □

            	
              inside
      the United States to a "qualified institutional buyer" (as defined in Rule
      144A under the Securities Act of 1933) that purchases for its own account
      or for the account of a qualified institutional buyer to whom notice is
      given that such transfer is being made in reliance on Rule 144A, in each
      case pursuant to and in compliance with Rule 144A under the Securities Act
      of 1933; or

              
              

            
	
              (4)

            	
              □

            	
              outside
      the United States in an offshore transaction within the meaning of
      Regulation S under the Securities Act in compliance with Rule 904 under
      the Securities Act of 1933; or

              
              

            
	
              (5)

            	
              □

            	
              to
      an institutional "accredited investor" (as defined in Rule 501(a)(1), (2),
      (3) or (7) under the Securities Act of 1933) that has furnished to the
      Trustee a signed letter containing certain representations and agreements
      (the form of which letter can be obtained from the Trustee or the
      Company); or

              
              

            
	
              (6)

            	
              □

            	
              pursuant
      to another available exemption from registration provided by Rule 144
      under the Securities Act of 1933.

            

    

    

    Unless
one of the boxes is checked, the Trustee will refuse to register any of the
Securities evidenced by this certificate in the name of any person other than
the registered holder thereof; provided, however, that if
box  (5) or (6) is checked, the Trustee may require, prior to
registering any such transfer of the Securities, such legal opinions,
certifications and other information as the Company has reasonably requested to
confirm that such transfer is being made pursuant to an exemption from, or in a
transaction not subject to, the registration requirements of the Securities Act
of 1933.

     

    
      	 
    	
              ____________________________

            
	 
    	
              Your
      Signature

            
	
              Signature
      Guarantee:

            	 
    
	
               

              Date:
      ________________________

            	
               

              ____________________________

            
	
              Signature
      must be guaranteed by a participant in a recognized signature guaranty
      medallion program or other signature guarantor acceptable to the
      Trustee

            	
              Signature
      of

              Signature
      Guarantee

               

            

    

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

    TO
BE COMPLETED BY PURCHASER IF (3) ABOVE IS CHECKED.

     

    The
undersigned represents and warrants that it is purchasing this Security for its
own account or an account with respect to which it exercises sole investment
discretion and that it and any such account is a "qualified institutional buyer"
within the meaning of Rule 144A under the Securities Act of 1933, and is aware
that the sale to it is being made in reliance on Rule 144A and acknowledges that
it has received such information regarding the Company as the undersigned has
requested pursuant to Rule 144A or has determined not to request such
information and that it is aware that the transferor is relying upon the
undersigned's foregoing representations in order to claim the exemption from
registration provided by Rule 144A.

     

    
      	
              Dated:
      _______________________

            	
              ____________________________

            
	
              Signature
      must be guaranteed by a participant in a recognized signature guaranty
      medallion program or other signature guarantor acceptable to the
      Trustee

            	
              NOTICE:         To
      be executed by

              an executive
    officer

            

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    SCHEDULE
OF INCREASES OR DECREASES IN GLOBAL SECURITY

     

    The
initial principal amount of this Global Security is
$[  ].  The following increases or decreases in this Global
Security have been made:

     

    
      	
              Date
      of

              Exchange

            	
              Amount
      of decrease in Principal Amount of this Global Security

            	
              Amount
      of increase in Principal Amount of this Global Security

            	
              Principal
      amount of this Global Security following such decrease or
      increase

            	
              Signature
      of authorized signatory of Trustee or Securities
  Custodian

            

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    OPTION
OF HOLDER TO ELECT PURCHASE

     

    If
you want to elect to have this Security purchased by the Company pursuant to
Section 4.12 (Change of Control) of the Indenture, check the box:

     

    /    /

     

    If
you want to elect to have only part of this Security purchased by the Company
pursuant to Section 4.12 of the Indenture, state the amount:

     

    $

     

    
      	
              Date:
      __________________

            	
              Your
      Signature: ______________________

            

    

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

     

    

     

    
      	
              Signature
      Guarantee:

            	
               

            	 
    
	 
    	
              Signature
      must be guaranteed by a participant in a recognized signature guaranty
      medallion program or other signature guarantor acceptable to the
      Trustee.exh_4-4.htm

    Exhibit 4.4

     

    UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), NEW YORK, NEW YORK, TO THE
COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY
CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR 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.

     

    TRANSFERS
OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART,
TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR'S NOMINEE AND
TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE
IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON
THE REVERSE HEREOF.

     

    THIS
SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE "SECURITIES ACT"). THE HOLDER HEREOF, BY PURCHASING THIS SECURITY, AGREES
FOR THE BENEFIT OF THE COMPANY THAT THIS SECURITY MAY NOT BE RESOLD, PLEDGED OR
OTHERWISE TRANSFERRED (X) PRIOR TO THE DATE SIX MONTHS AFTER THE DATE OF THE
ISSUANCE HEREOF (OR ANY PREDECESSOR SECURITY HERETO) OR (Y) BY ANY HOLDER THAT
WAS AN "AFFILIATE" (WITHIN THE MEANING OF RULE 144 OF THE SECURITIES ACT) OF THE
COMPANY AT ANY TIME DURING THE THREE MONTHS PRECEDING THE DATE OF
SUCH  TRANSFER, IN EITHER CASE, OTHER THAN (1) TO
THE  COMPANY, (2) SO LONG AS THIS SECURITY IS ELIGIBLE FOR RESALE
PURSUANT TO RULE 144A UNDER THE SECURITIES ACT ("RULE 144A"), TO A PERSON WHOM
THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE
MEANING OF RULE 144A, PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A
QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE RESALE, PLEDGE OR
OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A (AS INDICATED BY THE BOX
CHECKED BY THE TRANSFEROR ON THE CERTIFICATE OF TRANSFER ON THE REVERSE OF THIS
SECURITY), (3) IN AN OFFSHORE TRANSACTION (AS DEFINED UNDER REGULATION S UNDER
THE SECURITIES ACT) IN ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT (AS
INDICATED BY THE BOX CHECKED BY THE TRANSFEROR ON THE CERTIFICATE OF TRANSFER ON
THE REVERSE OF THIS SECURITY), (4) TO AN INSTITUTION THAT IS AN "ACCREDITED
INVESTOR" AS DEFINED IN RULE 501(a)(1), (2), (3) OR (7) UNDER THE SECURITIES ACT
(AS INDICATED BY THE BOX CHECKED BY THE TRANSFEROR ON THE CERTIFICATE OF
TRANSFER ON THE REVERSE OF THIS SECURITY) THAT IS ACQUIRING THIS SECURITY FOR
INVESTMENT PURPOSES AND NOT FOR DISTRIBUTION, AND A CERTIFICATE WHICH MAY BE
OBTAINED FROM THE COMPANY OR THE TRUSTEE IS DELIVERED BY THE TRANSFEREE TO THE
COMPANY AND TRUSTEE, (5) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE
SECURITIES ACT PROVIDED BY RULE 144 (IF APPLICABLE) UNDER THE SECURITIES ACT, OR
(6) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, IN
EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE
UNITED STATES.  AN INSTITUTIONAL ACCREDITED INVESTOR HOLDING THIS
SECURITY AGREES THAT IT WILL FURNISH TO THE COMPANY AND THE TRUSTEE SUCH
CERTIFICATES AND OTHER INFORMATION AS THEY MAY REASONABLY REQUIRE TO CONFIRM
THAT ANY TRANSFER BY IT OF THIS SECURITY COMPLIES WITH THE FOREGOING
RESTRICTIONS.  THE HOLDER HEREOF, BY PURCHASING THIS SECURITY,
REPRESENTS AND AGREES FOR THE BENEFIT OF THE COMPANY THAT IT IS (1) A QUALIFIED
INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A OR (2) PURCHASING FROM A
PERSON NOT PARTICIPATING IN THE INITIAL DISTRIBUTION OF THIS SECURITY (OR ANY
PREDECESSOR SECURITY), THAT IT IS AN INSTITUTION THAT IS AN "ACCREDITED
INVESTOR" AS DEFINED IN RULE 501(a)(1), (2), (3) OR (7) UNDER THE SECURITIES ACT
AND THAT IT IS HOLDING THIS SECURITY FOR INVESTMENT PURPOSES AND NOT FOR
DISTRIBUTION OR (3) A NON-U.S. PERSON OUTSIDE THE UNITED STATES WITHIN THE
MEANING OF (OR AN ACCOUNT SATISFYING THE REQUIREMENTS OF PARAGRAPH (k)(2)(i) OF
RULE 902 UNDER) REGULATION S UNDER THE SECURITIES ACT.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    

    
      	
              No.
      2

            	
              Up
      to $95,000,000

            

    

     

     

     

     

    5.750%
Senior Note due 2018

     

     CUSIP:
655844 AY4

      ISIN:
US655844AY43

     

    NORFOLK
SOUTHERN CORPORATION, a Virginia corporation, promises to pay to Cede & Co.,
or registered assigns, the principal sum as set forth on the Schedule of
Increases or Decreases annexed hereto on April 1, 2018.

     

    Interest
Payment Dates:  April 1 and October 1, commencing on October 1,
2008.

     

    Record
Dates:  March 15 and September 15.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    Additional
provisions of this Security are set forth on the other side of this
Security.

     

    IN
WITNESS WHEREOF, the parties have caused this instrument to be duly
executed.

     

    
      	 
    	
              NORFOLK
      SOUTHERN CORPORATION,

            
	 
    	 
    
	 
    	
              By

            	
                   /s/
      William J. Romig

            
	 
    	 
    	
              Name:
      William J. Romig

            
	 
    	 
    	
              Title:
      Vice President and Treasurer

            

    

     

    TRUSTEE'S
CERTIFICATE OF

           AUTHENTICATION

     

    Dated:
April 4, 2008

     

    U.S.
BANK TRUST NATIONAL ASSOCIATION,

     

    as
Trustee, certifies

    that
this is one of

    the
Securities referred

    to
in the Indenture.

     

    By:___/s/ Patrick J.
Crowley____

    Authorized Signatory

     

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    REVERSE
SIDE OF NOTE

     

    5.750%
Senior Note due 2018

     

     

    
      	
              1.  

            	
              Interest

            

    

     

    (a) NORFOLK SOUTHERN CORPORATION, a Virginia
corporation (such corporation, and its successors and assigns under the
Indenture hereinafter
referred to, being herein called the "Company"), promises to pay interest on the
principal amount of this Security at the rate per annum shown
above.  The Company will pay interest semiannually on April 1 and
October 1 of each year, commencing October 1,
2008.  Interest on the Securities will accrue from the most recent
date to which interest has been paid or, if no interest has been paid, from
April 4, 2008.  Interest shall be computed on the basis of a 360-day
year of twelve 30-day months.  The Company shall pay
interest on overdue principal at the rate per annum borne by the Securities, and
it shall pay interest on overdue installments of interest at the rate per annum
borne by the Securities to the extent lawful.

     

    (b) Special
Interest.  The holder of this Security is entitled to
the benefits of a Exchange and Registration Rights Agreement, dated as of April
1, 2008, among the Company and the Initial Purchasers named therein (the
"Registration Agreement").  Capitalized terms used in this
paragraph (b) but not defined herein have
the meanings assigned to them in the Registration Agreement.  In the
event that (i) the Exchange Offer Registration Statement is not filed with the
Commission on or prior to the date which is 180 days following the
date of the original issuance of the
Securities, (ii) the Exchange Offer Registration Statement is not declared
effective within 270 days after the original issuance of the Securities, (iii)
if the Exchange Offer Registration Statement is declared effective, the Registered Exchange Offer is not
consummated on or prior to 300 days after the date of the original issuance of
Securities, (iv) if the Company is required to file the Shelf Registration
Statement in accordance with the Registration Agreement, the Company does not so file the Shelf
Registration Statement on or prior to the 45th day after the Company's
obligation to file such Shelf Registration Statement arises, (v) if the Company
is required to file the Shelf Registration Statement in accordance with
the Registration Agreement, the Shelf
Registration Statement has not been declared effective by the SEC on or prior to
90 days after the filing obligation arises, or (vi)  any Suspension
Periods exceed, in the aggregate, 45 days during any 365-day period
(each such event referred to in clauses (i)
through (v), a "Registration Default"), the Company shall be obligated to pay
Additional Interest from and including the date on which the first such
Registration Default shall occur to but excluding the date on which all Registration Defaults have been
cured, at a rate of 0.25% per annum on the applicable principal amount of
Securities held by such Holder for the first 90 day period immediately following
the occurrence of a Registration Default, and such rate will increase by an additional 0.25% with
respect to each subsequent 90-day period until all Registration Defaults have
been cured, provided that the maximum additional rate may in no event exceed
0.50% per annum.

     

    
      	
              2.  

            	
              Method of
      Payment

            

    

     

    The
Company will pay interest on the Securities (except defaulted interest) to the
Persons who are registered Holders at the close of business on the March 15 or
September 15 next preceding the interest payment date even if Securities are
canceled after the record date and on or before the interest payment
date.  Holders must surrender Securities to a Paying Agent to collect
principal payments.  The Company will pay principal and interest in
money of the United States of America that at the time of payment is legal
tender for payment of public and private debts.  Payments in respect
of the Securities represented by a Global Security (including principal and
interest) will be made by wire transfer of immediately available funds to the
accounts specified by the Depository.  The Company will make all
payments in respect of a Definitive Security (including principal and interest),
by mailing a check to the registered address of each Holder thereof; provided, however, that
payments on the Securities may also be made, in the case of a Holder of at least
$1,000,000 aggregate principal amount of Securities, by wire transfer to a U.S.
dollar account maintained by the payee with a bank in the United States if such
Holder elects payment by wire transfer by giving written notice to the Trustee
or the Paying Agent to such effect designating such account no later than 30
days immediately preceding the relevant due date for payment (or such other date
as the Trustee may accept in its discretion).

     

    
      	
              3.  

            	
              Paying Agent and
      Registrar

            

    

     

    Initially,
U.S. Bank Trust National Association, a national banking association (the
"Trustee"), will act as Paying Agent and Registrar.  The Company may
appoint and change any Paying Agent, Registrar or co registrar without
notice.  The Company or any of its domestically incorporated Wholly
Owned Subsidiaries may act as Paying Agent, Registrar or
co-registrar.

     

    
      	
              4.  

            	
              Indenture

            

    

     

    The
Company issued the Securities under an Indenture, dated as of April 4, 2008 (the
"Indenture"), between the Company and the Trustee.  The terms of the
Securities include those stated in the Indenture and those made part of the
Indenture by reference to the Trust Indenture Act of 1939 (15 U.S.C. §§
77aaa-77bbbb) as in effect on the date of the Indenture (the
"TIA").  Terms defined in the Indenture and not defined in the
Securities have the meanings ascribed thereto in the Indenture.  The
Securities are subject to all such terms, and Holders are referred to the
Indenture and the TIA for a statement of those terms.

     

    The
Securities are unsubordinated, unsecured obligations of the
Company.  This Security is one of the Original Securities referred to
in the Indenture issued in an aggregate principal amount of
$600,000,000.  The Securities include the Original Securities, an
unlimited aggregate principal amount of additional Initial Securities that may
be issued under the Indenture, and any Exchange Securities issued in exchange
for Initial Securities.  The Original Securities, such additional
Initial Securities and the Exchange Securities are treated as a single class of
securities under the Indenture.  The Indenture imposes certain
limitations on the ability of the Company and its Restricted Subsidiaries to,
among other things, create or incur Liens or Funded Debt. The Indenture also
imposes limitations on the ability of the Company to consolidate or merge with
or into any other Person or sell, transfer, assign, lease, convey or otherwise
dispose of all or substantially all of the property of the Company.

     

    
      	
              5.  

            	
              Optional
      Redemption

            

    

     

    The
Securities will be redeemable as a whole or in part, at the option of the
Company at any time, at a redemption price equal to the greater of (i) 100% of
the principal amount of such Securities and (ii) the sum of the present values
of the remaining scheduled payments of principal and interest thereon (exclusive
of interest accrued to the date of redemption) discounted to the redemption date
on a semiannual basis (assuming a 360-day year consisting of twelve 30-day
months) at the Treasury Rate plus 35 basis points, plus in each case accrued
interest thereon to the date of redemption.

     

    "Treasury
Rate" means, with respect to any redemption date, the rate per annum equal to
the semiannual equivalent yield to maturity or interpolated (on a day count
basis) of the Comparable Treasury Issue, assuming 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.

     

    "Comparable
Treasury Issue" means the United States Treasury security or securities selected
by an Independent Investment Banker as having an actual or interpolated maturity
comparable to the remaining term of the Securities 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 a comparable
maturity to the remaining term of such Securities.

     

    "Independent
Investment Banker" means one of the Reference Treasury Dealers appointed by the
Trustee after consultation with the Company.

     

    "Comparable
Treasury Price" means, with respect to any redemption date, (A) the average of
the Reference Treasury Dealer Quotations for such redemption date, after
excluding the highest and lowest such Reference Treasury Dealer Quotations, or
(B) if the Trustee obtains fewer than five such Reference Treasury Dealer
Quotations, the average of all such quotations.

     

    "Reference
Treasury Dealer Quotations" means, with respect to each Reference Treasury
Dealer and any redemption date, the average, as determined by the Trustee, 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 Trustee
by such Reference Treasury Dealer at 3:30 p.m. New York time on the third
Business Day preceding such redemption date.

     

    "Reference
Treasury Dealer" means each of Barclays Capital Inc., Deutsche Bank Securities
Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and one other
broker-dealer appointed by the Company; or their respective affiliates which are
primary U.S. Government securities dealers, and their respective successors;
provided, however, that if any of the foregoing or their affiliates shall cease
to be a primary U.S. Government securities dealer in The City of New York (a
"Primary Treasury Dealer") or otherwise fails to provide a Reference Treasury
Dealer Quotation, the Company shall substitute therefor another Primary Treasury
Dealer.

     

    
      	
              6.  

            	
              Sinking
      Fund

            

    

     

    The
Securities are not subject to any sinking fund.

     

    
      	
              7.  

            	
              Notice of
      Redemption

            

    

     

    Notice
of redemption will be mailed by first-class mail at least 30 days but not more
than 60 days before the redemption date to each Holder of Securities to be
redeemed at his or her registered address.  Securities in
denominations larger than $2,000 may be redeemed in part but only in whole
multiples of $1,000.  If money sufficient to pay the redemption price
of and accrued interest on all Securities (or portions thereof) to be redeemed
on the redemption date is deposited with the Paying Agent on or before the
redemption date and certain other conditions are satisfied, on and after such
date interest ceases to accrue on such Securities (or such portions thereof)
called for redemption.

     

    
      	
              8.  

            	
              Repurchase of
      Securities at the Option of Holders upon Change of
      Control

            

    

     

    If
a Change of Control Repurchase Event occurs with respect to the Securities,
unless the Company has exercised its right to redeem the Securities as described
above, the Company will make an offer to each Holder of the Securities to
repurchase all or any part (in integral multiples of $1,000) of that Holder's
Securities at a repurchase price (the "Repurchase Price") in cash equal to 101%
of the aggregate principal amount of such Securities repurchased plus any
accrued and unpaid interest on the Securities repurchased to, but not including,
the Repurchase Date. A "Change of Control Repurchase Event" means the occurrence
of both a Change of Control and a Below Investment Grade Ratings Event with
respect to the Securities, each of which is defined in the Indenture. Within 30
days following a Change of Control Repurchase Event or, at the Company's option,
prior to a Change of Control, but after the public announcement of a Change of
Control, the Company will mail, or cause to be mailed, a notice to each Holder
of the Securities, with a copy to the Trustee, describing the transaction or
transactions that constitute or may constitute the Change of Control Repurchase
Event and offering to repurchase the Securities on the payment date specified in
the notice (such offer the "Repurchase Offer" and such date the "Repurchase
Date"), which Repurchase Date will be no earlier than 30 days and no later than
60 days from the date such notice is mailed. The notice shall, if mailed prior
to the date of consummation of the Change of Control, state that the Repurchase
Offer is conditioned on a Change of Control Repurchase Event occurring on or
prior to the Repurchase Date.

     

    The
Company will comply with the requirements of Rule 14e-1 under the Exchange Act,
and any other securities laws and regulations thereunder to the extent those
laws and regulations are applicable in connection with the repurchase of the
Securities as a result of a Change of Control Repurchase Event. To the extent
that the provisions of any securities laws or regulations conflict with the
Change of Control Repurchase Event provisions of the Securities, the Company
will comply with the applicable securities laws and regulations and will not be
deemed to have breached its obligations under the Change of Control Repurchase
Event provisions of the Securities by virtue of such conflict.

     

    On
the Repurchase Date following a Change of Control Repurchase Event, the Company
will, to the extent lawful:

     

    (1)   accept for payment all Securities or
portions of Securities properly tendered pursuant to the Repurchase Offer;

     

    (2)   deposit with the Trustee or with such
paying agent as the Trustee may designate (the "Paying Agent") an amount equal
to the aggregate Repurchase Price for all Securities or portions of Securities
properly tendered; and

     

    (3)   deliver, or cause to be delivered, to the Trustee the
Securities properly accepted, together with an Officers' Certificate stating the
aggregate principal amount of Securities being repurchased by the Company
pursuant to the Repurchase Offer and that all conditions precedent to the repurchase by the Company of
Securities pursuant to the Repurchase offer have been complied
with.

     

    The
Trustee will promptly mail, or cause the Paying Agent promptly to mail, to each
Holder of Securities, or portions of Securities, properly tendered the
Repurchase Price for such Securities, or portions of Securities, and the Trustee
will promptly authenticate and mail (or cause to be transferred by book-entry)
to each Holder a new Security equal in principal amount to any unpurchased
portion of any Securities surrendered, as applicable; provided that each new
Security will be in a principal amount of an integral multiple of
$1,000.

     

    The
Company will not be required to make a Repurchase Offer upon a Change of Control
Repurchase Event if a third party makes such an offer in the manner, at the
times and otherwise in compliance with the requirements for such an offer made
by the Company and such third party purchases all Securities or portions of
Securities properly tendered and not withdrawn under its offer.

     

    The
Company may not have sufficient funds to repurchase all Securities or portions
of Securities properly tendered upon a Change of Control Repurchase
Event.

     

    
      	
              9.  

            	
              Denominations;
      Transfer; Exchange

            

    

     

    The
Securities are in registered form without coupons in denominations of $2,000 and
whole multiples of $1,000.  A Holder may transfer or exchange
Securities in accordance with the Indenture.  Upon any transfer or
exchange, the Registrar and the Trustee may require a Holder, among other
things, to furnish appropriate endorsements or transfer documents and to pay any
taxes required by law or permitted by the Indenture.  The Registrar
need not register the transfer of or exchange any Securities selected for
redemption (except, in the case of a Security to be redeemed in part, the
portion of the Security not to be redeemed) or to transfer or exchange any
Securities for a period of 15 days prior to a selection of Securities to be
redeemed or 15 days before an Interest Payment Date.

     

    
      	
              10.  

            	
              Persons Deemed
      Owners

            

    

     

    The
registered Holder of this Security may be treated as the owner of it for all
purposes.

     

    
      	
              11.  

            	
              Unclaimed
      Money

            

    

     

    If
money for the payment of principal or interest remains unclaimed for two years,
the Trustee or Paying Agent shall pay the money back to the Company at its
written request unless an abandoned property law designates another
Person.  After any such payment, Holders entitled to the money must
look only to the Company and not to the Trustee for payment.

     

    
      	
              12.  

            	
              Discharge

            

    

     

    Subject
to certain conditions, the Company at any time may terminate its obligations
under the Securities and the Indenture if the Company deposits with the Trustee
money or U.S. Government Obligations for the payment of principal and interest
on the Securities to redemption or maturity, as the case may be.

     

    
      	
              13.  

            	
              Amendment,
      Waiver

            

    

     

    The
Indenture contains provisions permitting the Company and the Trustee, with the
consent of the Holders of not less than a majority in principal amount of the
Outstanding Securities affected, to execute supplemental indentures for the
purpose of adding any provisions to the Indenture or of modifying in any manner
the rights of the Holders of the Security; provided, however, that no such
supplemental indenture shall (i) change the Stated Maturity of the principal of,
or any installment of principal of or interest on, any Security, or reduce the
principal amount thereof or any premium payable upon the redemption thereof or
the rate of interest thereon, or reduce the amount of principal of an OID
Security that would be due and payable upon a declaration of acceleration of the
Maturity thereof pursuant to Section 6.02 of the Indenture, or change any Place
of Payment where, or the coin or currency in which, any Security (or premium, if
any, thereon) or the interest thereon 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 (ii) reduce the percentage in principal amount of the Outstanding
Securities, the Holders of which are required to consent to any such
supplemental indenture or to any waiver of compliance with certain provisions or
certain defaults thereunder and their consequences provided for in the
Indenture; or (iii) modify any of the provisions of the Indenture relating to
supplemental indentures that require consent of Holders, the waiver of past
defaults or the waiver of certain covenants, except to increase any such
percentage or to provide that certain other provisions of the Indenture cannot
be modified or waived, without the consent of the Holders of each Outstanding
Security affected thereby, provided, however, that the consent of the Holders
shall not be required with respect to changes in the references to "the Trustee"
in Sections 9.02 and 4.09 of the Indenture or with respect to the deletion of
this proviso from the Indenture, in accordance with Sections 7.08 and 9.01(b) of
the Indenture.  The Indenture also contains provisions permitting the
Holders of not less than a majority in principal amount of the Outstanding
Securities affected thereby, on behalf of all of the Holders of the Securities,
to waive any past Default under the Indenture with respect to the Securities,
and its consequences, except a Default in the payment of the principal of, or
premium, if any, or interest on any Security or a Default in respect of a
covenant or provision of the Indenture which cannot be modified or amended
without the consent of the Holder of each Outstanding Security
affected.  Any such consent or waiver by the registered Holder of this
Security (unless revoked as provided in the Indenture) shall be conclusive and
binding upon such Holder and upon all future Holders and owners of this Security
and of any Security issued in exchange therefor or in place hereof (whether by
registration of transfer or otherwise), irrespective of whether or not any
notation of such consent or waiver is made upon this Security.

     

    
      	
              14.  

            	
              Defaults and
      Remedies

            

    

     

    If
an Event of Default occurs and is continuing, the Trustee or the Holders of at
least 25% in aggregate principal amount of the Securities then outstanding,
subject to certain limitations, may declare all the Securities to be immediately
due and payable.  Certain events of bankruptcy or insolvency are
Events of Default and shall result in the Securities being immediately due and
payable upon the occurrence of such Events of Default without any further act of
the Trustee or any Holder.

     

    Holders
of Securities may not enforce the Indenture or the Securities except as provided
in the Indenture.  The Trustee may refuse to enforce the Indenture or
the Securities unless it receives indemnity or security satisfactory to
it.  Subject to certain limitations, Holders of a majority in
aggregate principal amount of the Securities then outstanding may direct the
Trustee in its exercise of any trust or power under the
Indenture.  The Holders of a majority in aggregate principal amount of
the Securities then outstanding, by written notice to the Company and the
Trustee, may rescind any declaration of acceleration and its consequences if the
rescission would not conflict with any judgment or decree, and if all existing
Events of Default have been cured or waived except nonpayment of principal,
premium or interest that has become due solely because of the
acceleration.

     

    
      	
              15.  

            	
              Trustee Dealings with
      the Company

            

    

     

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

     

    
      	
              16.  

            	
              No Recourse Against
      Others

            

    

     

    A
director, officer, employee or stockholder, as such, of the Company shall not
have any liability for any obligations of the Company under the Securities or
the Indenture or for any claim based on, in respect of or by reason of such
obligations or their creation.  By accepting a Security, each
Securityholder waives and releases all such liability.  The waiver and
release are part of the consideration for the issue of the
Securities.

     

    
      	
              17.  

            	
              Successors

            

    

     

    Subject
to certain exceptions set forth in the Indenture, when a successor assumes all
the obligations of its predecessor under the Securities and the Indenture in
accordance with the terms of the Indenture, the predecessor will be released
from those obligations.

     

    
      	
              18.  

            	
              Authentication

            

    

     

    This
Security shall not be valid until an authorized signatory of the Trustee (or an
authenticating agent) manually signs the certificate of authentication on the
other side of this Security.

     

    
      	
              19.  

            	
              Abbreviations

            

    

     

    Customary
abbreviations may be used in the name of a Securityholder or an assignee, such
as TEN COM (=tenants in common), TENENT (=tenants by the entireties), JT TEN
(=joint tenants with rights of survivorship and not as tenants in common), CUST
(=custodian), and U/G/M/A (=Uniform Gift to Minors Act).

     

    
      	
              20.  

            	
              Governing
      Law

            

    

     

    THIS
SECURITY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE
STATE OF NEW YORK BUT WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF
CONFLICTS OF LAW.

     

    
      	
              21.  

            	
              CUSIP
      Numbers

            

    

     

    Pursuant
to a recommendation promulgated by the Committee on Uniform Security
Identification Procedures, the Company has caused CUSIP numbers to be printed on
the Securities and has directed the Trustee to use CUSIP numbers in notices of
redemption as a convenience to Holders.  No representation is made as
to the accuracy of such numbers either as printed on the Securities or as
contained in any notice of redemption and reliance may be placed only on the
other identification numbers placed thereon.

     

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

     

    
      
         

      

      
         

        
          

        

      

      
         

      

       

    

    ASSIGNMENT
FORM

     

    To
assign this Security, fill in the form below:

     

    I
or we assign and transfer this Security to

     

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

     

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

     

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

     

    ____________________________________________________________

     

    Date:
________________ Your Signature: _____________________

     

    ____________________________________________________________

     

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

     

    In
connection with any transfer of any of the Securities evidenced by this
certificate occurring prior to the expiration of the period referred to in Rule
144(d)(1)(i) under the Securities Act after the later of the date of original
issuance of such Securities and the last date, if any, on which such Securities
were owned by the Company or any Affiliate of the Company, the undersigned
confirms that such Securities are being transferred in accordance with its
terms:

     

    CHECK
ONE BOX BELOW

     

    
      	
              (1)

            	
              □

            	
              to
      the Company; or

              
              

            
	
              (2)

            	
              □

            	
              pursuant
      to an effective registration statement under the Securities Act of 1933;
      or

              
              

            
	
              (3)

            	
              □

            	
              inside
      the United States to a "qualified institutional buyer" (as defined in Rule
      144A under the Securities Act of 1933) that purchases for its own account
      or for the account of a qualified institutional buyer to whom notice is
      given that such transfer is being made in reliance on Rule 144A, in each
      case pursuant to and in compliance with Rule 144A under the Securities Act
      of 1933; or

              
              

            
	
              (4)

            	
              □

            	
              outside
      the United States in an offshore transaction within the meaning of
      Regulation S under the Securities Act in compliance with Rule 904 under
      the Securities Act of 1933; or

              
              

            
	
              (5)

            	
              □

            	
              to
      an institutional "accredited investor" (as defined in Rule 501(a)(1), (2),
      (3) or (7) under the Securities Act of 1933) that has furnished to the
      Trustee a signed letter containing certain representations and agreements
      (the form of which letter can be obtained from the Trustee or the
      Company); or

              
              

            
	
              (6)

            	
              □

            	
              pursuant
      to another available exemption from registration provided by Rule 144
      under the Securities Act of 1933.

            

    

     

    Unless
one of the boxes is checked, the Trustee will refuse to register any of the
Securities evidenced by this certificate in the name of any person other than
the registered holder thereof; provided, however, that if box  (5) or
(6) is checked, the Trustee may require, prior to registering any such transfer
of the Securities, such legal opinions, certifications and other information as
the Company has reasonably requested to confirm that such transfer is being made
pursuant to an exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act of 1933.

     

    
      	 
    	
              ____________________________

            
	 
    	
              Your
      Signature

            
	
              Signature
      Guarantee:

            	 
    
	 
    	 
    
	
              Date:
      ________________________

            	
              ____________________________

            
	
              Signature
      must be guaranteed by a participant in a recognized signature guaranty
      medallion program or other signature guarantor acceptable to the
      Trustee

            	
              Signature
      of

              Signature
      Guarantee

            

    

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

     

    TO
BE COMPLETED BY PURCHASER IF (3) ABOVE IS CHECKED.

     

    The
undersigned represents and warrants that it is purchasing this Security for its
own account or an account with respect to which it exercises sole investment
discretion and that it and any such account is a "qualified institutional buyer"
within the meaning of Rule 144A under the Securities Act of 1933, and is aware
that the sale to it is being made in reliance on Rule 144A and acknowledges that
it has received such information regarding the Company as the undersigned has
requested pursuant to Rule 144A or has determined not to request such
information and that it is aware that the transferor is relying upon the
undersigned's foregoing representations in order to claim the exemption from
registration provided by Rule 144A.

     

    
      	
              Dated:
      _______________________

            	
              ____________________________

            
	
              Signature
      must be guaranteed by a participant in a recognized signature guaranty
      medallion program or other signature guarantor acceptable to the
      Trustee

            	
              NOTICE:         To
      be executed by

              an executive officer

               

            

    

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    SCHEDULE
OF INCREASES OR DECREASES IN GLOBAL SECURITY

     

    The
initial principal amount of this Global Security is
$[  ].  The following increases or decreases in this Global
Security have been made:

     

    
      	
              Date
      of Exchange

            	
              Amount
      of decrease in Principal Amount of this Global Security

            	
              Amount
      of increase in Principal Amount of this Global Security

            	
              Principal
      amount of this Global Security following such decrease or
      increase

            	
              Signature
      of authorized signatory of Trustee or Securities
  Custodian

            

    

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    OPTION
OF HOLDER TO ELECT PURCHASE

     

    If
you want to elect to have this Security purchased by the Company pursuant to
Section 4.12 (Change of Control) of the Indenture, check the box:

     

    /    /

     

    If
you want to elect to have only part of this Security purchased by the Company
pursuant to Section 4.12 of the Indenture, state the amount:

     

    $

     

    
      	
              Date:
      __________________

            	
              Your
      Signature: ______________________

            

    

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

     

    
      	
              Signature
      Guarantee:

            	
               

            	 
	 
    	
              Signature
      must be guaranteed by a participant in a recognized signature guaranty
      medallion program or other signature guarantor acceptable to the
      Trustee.

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