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Exhibit 4.4    
  

TENET HEALTHCARE CORPORATION 

Third Supplemental  

 Indenture  

Dated as of November 6, 2001  

(Supplemental to Indenture Dated as of November 6, 2001) 

THE BANK OF NEW YORK,
 as Trustee

    THIRD
SUPPLEMENTAL INDENTURE, dated as of November 6, 2001, among Tenet Healthcare Corporation, a corporation duly organized and existing under the laws of the State of Nevada
(herein called the "Company"), and The Bank of New York, a New York banking corporation, as Trustee (herein called "Trustee"); 

 
 

R E C I T A L S:    
  

    WHEREAS, the Company has heretofore executed and delivered to The Bank of New York, as trustee, an Indenture, dated as of November 6, 2001 (the
"Existing Indenture", and the Existing Indenture, as the same may be amended or supplemented from time to time, including by this Third Supplemental Indenture, the "Indenture"), providing for the
issuance from time to time of the Company's unsecured debentures, notes or other evidences of indebtedness (herein and therein called the "Securities"), to be issued in one or more series as provided
in the Indenture; 

    WHEREAS,
Section 901 of the Existing Indenture permits the Company and the Trustee to enter into an indenture supplemental to the Existing Indenture to provide for the issuance
of and establish the form and terms and conditions of any additional series of Securities; 

    WHEREAS,
Sections 201, 301 and 901 of the Existing Indenture permit the form of notes of each additional series of notes to be established pursuant to an indenture supplemental to the
Existing Indenture; 

    WHEREAS,
Section 301 of the Existing Indenture permits certain terms of any additional series of notes to be established pursuant to an indenture supplemental to the Existing
Indenture; and 

    WHEREAS,
pursuant to resolutions of the Board of Directors of the Company adopted at a meeting duly called on October 10, 2001, the Company is authorized to issue up to
$3,000,000,000 aggregate principal amount of Securities in one or more series of Securities; 

    WHEREAS,
pursuant to written action of the officers of the Company dated November 6, 2001 in accordance with such resolutions, the Company has authorized the issuance of
$450,000,000 aggregate principal amount of 67/8% Senior Notes due 2031 (the "Notes"); 

    WHEREAS,
the Company has duly authorized the execution and delivery of this Third Supplemental Indenture to establish the form and terms of the Notes; 

    WHEREAS,
all things necessary to make this Third Supplemental Indenture a valid agreement according to its terms have been done; and 

    WHEREAS,
the foregoing recitals are made as statements of fact by the Company and not by the Trustee; 

    NOW,
THEREFORE, THIS THIRD SUPPLEMENTAL INDENTURE WITNESSETH: 

    For
and in consideration of the premises and the issuance of the Notes provided for herein, it is mutually agreed, for the equal and proportionate benefit of all Holders of the Notes,
as follows: 

 
 

ARTICLE ONE    
    
    DEFINITIONS AND OTHER PROVISIONS
  OF GENERAL APPLICATION    
  

Section 1.1. Relation to Existing Indenture

    This
Third Supplemental Indenture constitutes an integral part of the Existing Indenture (the provisions of which, as modified by this Third Supplemental Indenture, shall apply to the
Notes) in respect of the Notes but shall not modify, amend or otherwise affect the Existing Indenture insofar as it relates to any other series of Securities or affect in any manner the terms and
conditions of the Securities of any other series. 

Section 1.2. Definitions

    For
all purposes of this Third Supplemental Indenture, the capitalized terms used herein (i) which are defined in this Section 1.2 have the respective meanings assigned
thereto in this Section 1.2, and (ii) which are defined in the Existing Indenture (and which are not defined in this Section 1.2) have the respective meanings assigned thereto in
the Existing Indenture. For all purposes of this Third Supplemental Indenture: 

    1.2.1  All
references herein to Articles and Sections, unless otherwise specified, refer to the corresponding Articles and Sections of this Third Supplemental
Indenture; 

    1.2.2  The
terms "hereof", "herein", "hereby", "hereto", "hereunder" and "herewith" refer to this Third Supplemental Indenture; and 

    1.2.3  The
following terms, as used herein, have the following meanings: 

    "Adjusted
Treasury Rate" has the meaning specified in the form of Note contained in Section 2.3. 

    "Affiliated
Entity" has the meaning specified under the definition of "Subsidiary" in this Section 1.2.3. 

    "Attributable
Debt" when used in connection with a Sale and Lease-Back Transaction, means, as of the date of determination, (i) as to any capitalized lease
obligations, the liability related thereto set forth on the consolidated balance sheet of the Company and (ii) as to any operating lease, the present value (discounted at the rate per annum
equal to the rate of interest set forth or implicit in the term of the lease, as determined in good faith by the Board of Directors of the Company) of the total obligation of the lessee for net rental
payments during the remaining term of the lease (including any period for which an option to extend such lease has been exercised). 

    "Code"
means the Internal Revenue Code of 1986, as amended and as in effect on the date hereof. 

    "Comparable
Treasury Issue" has the meaning specified in the form of Note contained in Section 2.3. 

    "Comparable
Treasury Price" has the meaning specified in the form of Note contained in Section 2.3. 

    "Depositary"
means The Depository Trust Company, its nominees and their respective successors. 

    "Exchange
Notes" means the notes issued pursuant to the Exchange Offer and their Successor Securities. 

    "Exchange
Offer" has the meaning specified in the form of Note contained in Section 2.2. 

    "Exchange
Offer Registration Statement" has the meaning specified the form of Note contained in Section 2.2. 

    "Global
Note" means any Note bearing the legend specified in Section 2.2 evidencing all or part of the Notes, issued to the Depositary or its nominee and registered in the name
of the Depositary. The Restricted Global Note shall be a Global Note. 

    "Independent
Investment Banker" has the meaning specified in the form of Note contained in Section 2.3. 

    "Initial
Purchasers" means Credit Suisse First Boston Corporation, Salomon Smith Barney Inc., J.P. Morgan Securities Inc. and the other Persons named in
Schedule I to the Purchase Agreement. 

    "Interest
Payment Date" has the meaning specified in the form of Note contained in Section 2.2. 

    "Liens"
means liens, mortgages, pledges, charges, security interests or other encumbrances. 

    "Make-Whole
Price" has the meaning specified in the form of Note contained in Section 2.3. 

    "Original Notes" means all Notes other than Exchange Notes. 

    "Primary
Treasury Dealer" has the meaning specified in the form of Note contained in Section 2.3. 

    "Principal
Property" means each hospital owned solely by the Company and/or one or more of its Subsidiaries which has an asset value shown on the books of the Company in excess of 5%
of the Consolidated Net Tangible Assets of the Company. 

    "Purchase
Agreement" means the Purchase Agreement, dated as of October 30, 2001, among the Company and the Initial Purchasers. 

    "Qualified
Institutional Buyer" or "QIB" has the meaning specified in Rule 144A. 

    "Reference
Treasury Dealer" has the meaning specified in the form of Note contained in Section 2.3. 

    "Reference
Treasury Dealer Quotations" has the meaning specified in the form of Note contained in Section 2.3. 

    "Registered
Notes" means the Exchange Notes and all other Notes sold or otherwise disposed of pursuant to an effective registration statement under the Securities Act, together with
their respective Successor Securities. 

    "Registration
Default" has the meaning specified in the form of Note contained in Section 2.2. 

    "Registration
Default Period" has the meaning specified in the form of Note contained in Section 2.2. 

    "Registration
Rights Agreement" has the meaning specified in Section 2.2. 

    "Remaining
Life" has the meaning specified in the form of Note contained in Section 2.3. 

    "Restricted
Global Note" has the meaning specified in Section 2.1. 

    "Restricted
Note" means all Notes required pursuant to Section 2.6 to bear any Restricted Securities Legend. Such term includes the Restricted Global Note. 

    "Restricted
Securities Legend" has the meaning specified in Section 2.6. 

    "Rule 144A"
means Rule 144A under the Securities Act (including any successor rule thereto), as the same may be amended from time to time. 

    "Sale
and Lease-Back Transactions" has the meaning specified in Section 3.2. 

    "Securities"
has the meaning ascribed to it in the first paragraph under the caption "Recitals." 

    "Securities
Act" means the Securities Act of 1933, as amended. 

    "Shelf
Registration Statement" has the meaning specified in the form of Note contained in Section 2.2. 

    "Special
Interest" has the meaning specified in the form of Note contained in Section 2.2. 

    "Special
Interest Notice" has the meaning specified in Section 2.5. 

    "Step-Down
Date" has the meaning specified in the form of Note contained in Section 2.2. 

    "Step-Up"
has the meaning specified in the form of Note contained in Section 2.2. 

    "Subsequent
Step-Up" has the meaning specified in the form of Note contained in Section 2.2. 

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

 
 

ARTICLE TWO    
    
    GENERAL TERMS AND CONDITIONS OF THE NOTES    
  

Section 2.1. Forms of Notes Generally

    The
Notes shall be in substantially the forms set forth in this Article with such appropriate insertions, omissions, substitutions and other variations as are required or permitted by
the Indenture, and may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon as may be required to comply with the rules of any securities
exchange or Depositary thereof, the Code and regulations thereunder, or as may, consistently herewith, be determined by the officers executing such Notes, as evidenced by their execution thereof. The
Trustee's certificates of authorization shall be in substantially the form set forth in Section 2.4. 

    The
definitive Notes shall be printed, lithographed or engraved or produced by any combination of these methods on steel engraved borders or may be produced in any other manner
permitted by the rules of any securities exchange on which the Notes may be listed, all as determined by the officers executing such Notes, as evidenced by their execution thereof. 

    In
certain cases described elsewhere herein, the legends set forth in the first five paragraphs of Section 2.2 may be omitted from Notes issued hereunder. 

    Notes
offered and sold in their initial distribution in reliance on Rule 144A shall be Restricted Notes and shall be issued in the form of one or more Global Notes (each, a
"Restricted Global Note"), in fully registered form without interest coupons, substantially in the form of Note set forth in Sections 2.2 and 2.3, with such applicable legends as are provided for in
Section 2.2, except as otherwise permitted herein. Such Restricted Global Notes shall be registered in the name of the Depositary or its nominee and deposited with the Trustee, at its New York
office, as custodian for the Depositary, duly
executed by the Company and authenticated by the Trustee as hereinafter provided. The Restricted Global Notes and all other Notes evidencing the debt, or any portion of the debt, initially evidenced
by such Restricted Global Notes, other than the Notes which are not required to bear the Restricted Securities Legend, shall collectively be referred to herein as the "Restricted Notes." Global Notes
are Global Securities as defined under the Existing Indenture and are subject to the restrictions and provisions of the Indenture governing Global Securities in the Existing Indenture, except as
specifically provided in this Third Supplemental Indenture. 

    The
Notes will be issued only in registered form. The Notes will be issued in minimum denominations of $1,000. 

Section 2.2. Form of Face of the Notes

    [INCLUDE IF NOTE IS A RESTRICTED NOTE—THIS SECURITY (OR ITS PREDECESSOR) WAS ORIGINALLY ISSUED IN A TRANSACTION
EXEMPT FROM REGISTRATION UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), AND THIS SECURITY MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH
REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM. EACH PURCHASER OF THIS SECURITY IS HEREBY NOTIFIED THAT THE SELLER OF THIS SECURITY MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5
OF THE SECURITIES ACT PROVIDED BY RULE 144A THEREUNDER. 

    THE
HOLDER OF THIS SECURITY AGREES FOR THE BENEFIT OF THE COMPANY THAT (A) THIS SECURITY MAY BE OFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (I) TO THE
COMPANY, (II) INSIDE THE U.S. TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A "QUALIFIED INSTITUTIONAL BUYER" (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) IN A TRANSACTION MEETING
THE REQUIREMENTS OF RULE 144A, (III) OUTSIDE THE U.S. IN A TRANSACTION COMPLYING WITH THE PROVISIONS OF RULE 904 UNDER THE SECURITIES ACT AND SUBJECT TO THE COMPANY'S RIGHT PRIOR TO ANY SUCH
REOFFER, RESALE OR 

TRANSFER TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION OR OTHER INFORMATION REASONABLY SATISFACTORY TO IT THAT SUCH REOFFER, RESALE OR TRANSFER IS IN COMPLIANCE WITH THE SECURITIES
ACT AND OTHER APPLICABLE LAWS, (IV) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT PROVIDED BY RULE 144 (IF AVAILABLE), (V) PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER THE SECURITIES ACT OR (VI) IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL ACCEPTABLE TO IT),
AND IN EACH OF CASES (II) THROUGH (VI) IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE
UNITED STATES, AND (B) THE HOLDER WILL AND EACH SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY PURCHASER OF THIS SECURITY FROM IT OF THE RESALE RESTRICTIONS REFERRED TO IN
(A) ABOVE.] 

    [INCLUDE IF NOTE IS A GLOBAL NOTE—THIS NOTE IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE HEREINAFTER
REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS NOTE MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A NOTE REGISTERED, AND NO TRANSFER OF THIS NOTE IN WHOLE OR IN
PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.] 

    [INCLUDE IF NOTE IS A GLOBAL NOTE AND THE DEPOSITORY TRUST COMPANY IS THE DEPOSITARY—UNLESS THIS CERTIFICATE IS
PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY ("DTC"), A NEW YORK CORPORATION, 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 IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF CEDE & CO. (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. 

    THIS
SECURITY MAY NOT BE EXCHANGEABLE IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON
OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.] 

TENET HEALTHCARE CORPORATION

67/8% SENIOR NOTES DUE 2031  

	No.	 	 	 	 
	 	 	
	 	 
	CUSIP No.:	 	 	 	$
	 	 	
	 	 

    TENET
HEALTHCARE CORPORATION, a corporation duly organized and existing under the laws of Nevada (herein called the "Company," which term includes any successor Person under the
Indenture referred to on the reverse hereof), for value received, hereby promises to pay to            , or registered assigns, the principal sum
of            Dollars,
[include if Global Note—or such other amount (not to exceed Four Hundred Fifty Million Dollars (U.S. $450,000,000) when taken
together with all of the Company's 67/8% Senior Notes due 2031 issued and outstanding in definitive certificated form or in the form of another Global Note) as may from time to time
represent the principal amount of the Company's 67/8% Senior Notes due 2031 in respect of which beneficial interests are held through the Depositary in the form of a Global
Note,] on November 15, 2031, and to pay interest thereon from November 6, 2001, or from the most recent Interest Payment Date (as defined below) to which interest has been
paid or duly provided for, semi-annually in arrears on May 15 and November 15 in each year (each such date, an "Interest Payment Date"), commencing on May 15, 2002,
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 such Indenture,
be paid to the Person in whose name this Note (or one or more Predecessor Notes) is registered at the close of business on the Regular Record Date for such interest, which shall be the May 1 or
November 1 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. Any such interest not so punctually paid or duly provided for will forthwith cease to
be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Note (or one or more Predecessor Notes) 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 which shall be given to Holders of Notes 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 Notes may be listed, and upon such notice as may be required by
such exchange, all as more fully provided in said Indenture. 

    Interest
shall be computed on the basis of a 360-day year comprised of twelve 30-day months. 

    In
the event that an Interest Payment Date is not a Business Day, the Company shall pay interest on the next day that is a Business Day, with the same force and effect as if made on
the Interest Payment Date, and without any interest or other payment with respect to the delay. If the Stated Maturity or earlier Redemption Date falls on a day that is not a Business Day, the payment
of principal and interest, if any, need not be made on such date, but may be made on the next succeeding Business Day, with the same force and effect as if made on the Stated Maturity or earlier
Redemption Date, provided that no interest shall accrue for the period from and after such Stated Maturity or earlier Redemption Date. 

    [Pursuant
to the Exchange and Registration Rights Agreement, dated as of November 6, 2001 (the "Registration Rights Agreement"), by and among the Company and the
Initial Purchasers (as defined therein), the Company has agreed for the benefit of the Holders from time to time of the Notes that they will (i) file under the Securities Act, no later than
December 6, 2001, a registration statement (the "Exchange Offer Registration Statement") registering securities substantially identical to the Notes (except that such securities will not
contain terms with respect to the Special Interest payments described below or transfer restrictions) pursuant to an exchange offer (the "Exchange Offer"), (ii) use its commercially reasonable
efforts to cause the Exchange Registration Statement to become effective under the Securities Act no later than 180 days following the filing thereof, and (iii) use its commercially
reasonable efforts to cause the Exchange Offer to remain open at least 20 business days and to commence and complete the Exchange Offer no later than 30 business days after the Exchange 

Offer Registration Statement has become effective; provided, however, that if (a) on or prior to the time the Exchange Offer is completed, existing Commission (as defined in the Indenture)
interpretations are changed such that this Note is not or would not be, upon receipt under the Exchange Offer, transferable by the Holder of this Note without restriction under the Securities Act,
(b) for any reason the Exchange Offer is not commenced and completed by the applicable date or (c) the Exchange Offer is not available to the Holder of this Note, the Company agreed, in
lieu of (or, in the case of clause (c), in addition to) conducting the Exchange Offer, to file under the Securities Act no later than the later of 30 days after the time such obligation
to file arises, a "shelf" registration statement providing for the registration of and the sale on a continuous or delayed basis by the Holder of this Note (such registration statement, the "Shelf
Registration Statement") and to use its commercially reasonable efforts to cause the Shelf Registration Statement to become effective no later than 90 days after it is filed. 

    In
the event that (i) the Company has not filed the Exchange Offer Registration Statement or, if applicable, the Shelf Registration Statement on or before the date on which
such registration statement is required to be filed in the respective time frames provided above, or (ii) such Exchange Offer Registration Statement or, if applicable, such Shelf Registration
Statement has not become effective on or before the date on which such registration statement is required to become effective in the respective time frames provided above, or (iii) the Exchange
Offer has not been completed within 30 business days after the Exchange Offer Registration Statement has become effective (if the Exchange Offer is then required to be made) or (iv) the
Exchange Offer Registration Statement or, if applicable, the Shelf Registration Statement is filed and declared effective but shall thereafter either be withdrawn by the Company or shall become
subject to an effective stop order issued pursuant to Section 8(d) of the Securities Act suspending the effectiveness of such registration statement (except as specifically
permitted in the Indenture) without being succeeded immediately by an additional registration statement filed and declared effective, in each case (i) through (iv) upon the terms and
conditions set forth in the Registration Rights Agreement (each such event referred to in clauses (i) through (iv), a "Registration Default" and each period during which a Registration Default
has occurred and is continuing, a "Registration Default Period"), then interest will accrue (in addition to any stated interest on this Note) at a per annum rate of 0.25% for the first 90 days
of the Registration Default Period (the "Step-Up"), at a per annum rate of 0.50% for the second 90 days of the Registration Default Period, at a per annum rate of 0.75% for the
third 90 days of the Registration Default Period and at a per annum rate of 1.0% thereafter for the remaining portion of the Registration Default Period (each such increase, a "Subsequent
Step-Up"). The Company shall not be required to pay Special Interest for more than one Registration Default at any given time. Interest accruing as a result of the Step-Up or
any Subsequent Step-Up (which shall be computed on the basis of a 360-day year comprised of twelve 30-day months) is referred to herein as "Special Interest," and
will be payable at such increased rate until such time as the Registration Default Period is no longer continuing, after which such interest rate will be restored to its initial rate (such event, a
"Step-Down Date"). Accrued Special Interest, if any, shall be paid in cash in arrears on each Interest Payment Date for the Notes; and the amount of accrued Special Interest shall be
determined on the basis of the number of days actually elapsed. Any accrued and unpaid interest (including Special Interest) on this Note upon the issuance of an Exchange Note (as defined in the
Indenture) in exchange for this Note shall cease to be payable to the Holder hereof but such accrued and unpaid interest (including Special Interest) shall be payable on the next Interest Payment Date
for such Exchange Note to the Holder thereof on the related Regular Record Date.] 

    Payment
of the principal of this Note, any premium and any interest due at Stated Maturity will be made in immediately available funds upon surrender at the office or agency of the
Paying Agent, as defined on the reverse hereof, maintained for that purpose in within the City and State of New York, or at such other paying agency as the Company may determine. Payments of interest,
other than interest due at Stated Maturity, may at our option be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Securities Register. Holders who
have given wire instructions to the Paying Agent will be entitled to receive payments of interest, other than interest due at Stated Maturity, by wire transfer of immediately available funds if
appropriate wire 

transfer instructions have been received by the Paying Agent in writing earlier than the relevant Record Date. 

    Reference
is hereby made to the further provisions of this Note 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 the manual signature of one of its authorized signatories, this
Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

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

Dated:

	 	 	TENET HEALTHCARE CORPORATION
	

 	
 	

By	

 
	 	 	 	

Section 2.3. Form of Reverse of the Notes  

    This Note is one of a duly authorized issue of securities of the Company (herein called the "Notes"), issued and to be issued in one or more series under an
Indenture, dated as of November 6, 2001, as supplemented by the Third Supplemental Indenture (the "Third Supplemental Indenture"), dated as of November 6, 2001 (as so supplemented, the
"Indenture", which term shall have the meaning assigned to it in such instrument), between the Company and The Bank of New York, as Trustee (herein called 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 of the Notes and of the terms upon which the Notes are, and are to be, authenticated and delivered. This Note is one of the series designated on the face hereof. The
Company has appointed The Bank of New York at its corporate trust office in New York, New York as the paying agent (herein called the "Paying Agent", which term includes any additional or successor
Paying Agent appointed by the Company) with respect to the Notes. 

    The
Notes are subject to redemption, in whole or in part, at any time, at the election of the Company upon not less than 30 nor more than 60 days' notice at a Redemption Price
equal to the Make-Whole Price. 

    "Make-Whole
Price" means an amount equal to the greater of (i) 100% of the principal amount of the Notes being redeemed and (ii) the sum of the present
values of the remaining scheduled payments of principal and interest thereon (excluding accrued and unpaid interest to the Redemption Date) discounted to the Redemption Date on a semiannual basis
(assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate (as defined herein) plus 0.35%, plus, in each of cases (i) and (ii), accrued
and unpaid interest thereon to the Redemption Date. 

    "Adjusted
Treasury Rate" means, with respect to any Redemption Date: (i) the yield, under the heading that represents the average for the immediately preceding week, appearing
in the most recently published statistical release designated "H.15(519)" or any successor publication that is published weekly by the Board of Governors of the Federal Reserve System and that
establishes yields on actively traded United States Treasury securities adjusted to constant maturity under the caption "Treasury Constant Maturities," for the maturity corresponding to the Comparable
Treasury Issue (if no maturity is within three months before or after the Remaining Life, yields for the two published maturities most closely corresponding to the Comparable Treasury Issue shall be
determined and the adjusted Treasury Rate shall be interpolated or extrapolated from such yields on a straight line basis, rounded to the nearest month); or (ii) 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. The Adjusted Treasury Rate shall be calculated on the third business day preceding the Redemption Date. 

    "Comparable
Treasury Issue" means the United States Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining term of the Notes
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 the Notes (the "Remaining Life"). 

    "Comparable
Treasury Price" means, with respect to any Redemption Date, (i) the average of the Reference Treasury Dealer Quotations for such Redemption Date, after excluding
the highest and lowest Reference Treasury Dealer Quotations, or (ii) 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 appointed by the Company. 

    "Reference Treasury Dealer" means (i) each of Credit Suisse First Boston Corporation, Salomon Smith Barney Inc. and J.P. Morgan Securities Inc. and their
respective successors; provided that if any of the foregoing ceases to be a primary U.S. Government securities dealer in New York City (a "Primary Treasury Dealer"), the Company will substitute
therefor another Primary Treasury Dealer, and (ii) any other Primary Treasury Dealer selected by the Company. 

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

    In
the event of redemption of this Note in part only, a new Note or Notes of this series and of like tenor for the unredeemed portion hereof will be issued in the name of the Holder
hereof upon the cancellation hereof. 

    This
Note does not have the benefit of any sinking fund obligations. 

    The
Indenture contains provisions for defeasance at any time of the entire indebtedness of this Note or certain restrictive covenants and Events of Default with respect to this Note,
in each case upon compliance with certain conditions set forth in the Indenture. 

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

    The
Notes are entitled to the benefits of the covenants of the Company set forth in Article Ten of the Indenture and Article Three of the Third Supplemental Indenture. 

    This
Note is a Global Note and shall be exchangeable for Notes registered in the names of Persons other than the Depositary or its nominee only if (i) the Depositary notifies
the Company that it is unwilling or unable to continue as Depositary for this Global Note or if at any time such Depositary ceases to be a clearing agency registered as such under the Securities
Exchange Act of 1934, as amended, at a time when such Depositary is required to be so registered in order to act as Depositary, and the Company fails to appoint a successor Depositary under the
Indenture, (ii) the Company executes and delivers to the Trustee a Company Order that the Global Note shall be so exchangeable, or (iii) there shall have occurred and be continuing an
Event of Default with respect to the Notes. To the extent that the Global Note is exchangeable pursuant to the preceding sentence, it shall be exchangeable for Notes registered in such names as the
Depositary may direct. In the event of a deposit or withdrawal of an interest in this Note (including upon an exchange, transfer, redemption or repurchase of this Note in part only) effected in
accordance with the Applicable Procedures, the Security Registrar, upon receipt of notice of such event from the Depositary's custodian for this Note, shall make an adjustment on its records to
reflect an increase or decrease of the Outstanding principal amount of Notes of this series resulting from such deposit or withdrawal, as the case may be. 

    Unless
the context otherwise requires, the Original Notes (as defined in the Indenture) and the Exchange Notes (as defined in the Indenture) shall constitute one series for all
purposes under the Indenture, including without limitation, amendments, waivers and redemptions. 

    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 each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Securities at the
time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture
and their consequences. Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder 

and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof, whether or not notation of such consent or waiver is
made upon this Note. 

    As
provided in and subject to the provisions of the Indenture, the Holder of this Note shall not have the right to institute any proceeding with respect to the Indenture or for the
appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default with respect to the
Notes of this series, the Holders of not less than 25% in principal amount of the Notes of this series at the time Outstanding shall have made written request to the Trustee to institute proceedings
in respect of such Event of Default as Trustee and offered the Trustee reasonable indemnity, and the Trustee shall not have received from the Holders of a majority in principal amount of Notes of this
series at the time Outstanding a direction inconsistent with such request, and shall have failed to institute any such proceeding, for 60 days after receipt of such notice, request and offer of
indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Note for the enforcement of any payment of principal hereof or any premium or interest hereon on or after the
respective due dates expressed herein. 

    No
reference herein to the Indenture and no provision of this Note 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 on this Note at the times, place and rate, and in the coin or currency, herein prescribed. 

    As
provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Note is registrable in the Security Register, upon surrender of this Note for
registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on this Note 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
Notes 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
Notes of this series are issuable only in fully registered form without coupons in denominations of $1,000 and any integral multiple thereof. As provided in the Indenture and
subject to certain limitations therein set forth, the Notes of this series are exchangeable for a like aggregate principal amount of Notes 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 Note 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 Note
is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 

    All
terms used in this Note which are defined in the Indenture shall have the meanings assigned to them in the Indenture. 

    The Indenture and this Note shall be governed by and construed in accordance with the laws of the State of New York, without regard to conflicts of laws
principles thereof.

Section 2.4. Form of Trustee's Certificate of Authentication of the Notes  

    The Trustee's certificates of authentication shall be in substantially the following form: 

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

Dated: 

	 	 	THE BANK OF NEW YORK, as Trustee
	

 	
 	

By:	

 
	 	 	 	
 Authorized Signatory

Section 2.5. Title and Terms  

    The Notes shall be issued in one series and shall be known and designated as the "67/8% Senior Notes due 2031" of the Company. The aggregate
principal amount of the Notes that may initially be authenticated and delivered under this Third Supplemental Indenture is limited to $450,000,000, except for Notes authenticated and delivered upon
registration of transfer of, or in exchange for, or in lieu of, other Notes pursuant to Section 304, 305, 306 or 906 of the Existing Indenture or Article Two of this Third Supplemental
Indenture. The Company may, without the consent of the Holders of the Notes, issue additional notes having the same ranking, interest rate, Stated Maturity, CUSIP number and terms as to status,
redemption or otherwise as the Notes, in which event such notes, the Original Notes and the Exchange Notes shall constitute one series for all purposes under the Indenture, including without
limitation, amendments, waivers and redemptions. 

    The
Stated Maturity of the Notes shall be November 15, 2031 and they shall bear interest and have such other terms as are described in Sections 2.2 and 2.3 of this Third
Supplemental Indenture. 

    The
Company shall have no obligation to redeem or purchase the Notes pursuant to any sinking fund or analogous provision, or at the option of a Holder thereof. The Notes shall be
redeemable at the election of the Company, as a whole or from time to time in part at the times and at the prices specified in the form of Note set forth in Section 2.3 of this Third
Supplemental Indenture. 

    The
Notes shall be subject to the defeasance and discharge provisions of Section 1302 of the Existing Indenture and the defeasance of certain obligations and certain events of
default provisions of Section 1303 of the Existing Indenture. 

    Upon
their original issuance, the Notes shall be issued in the form of one or more Global Notes, as provided in this Third Supplemental Indenture, registered in the name of The
Depository Trust Company, as Depositary, or its nominee and deposited with the Trustee, as custodian for The Depository Trust Company, for credit by The Depository Trust Company to the respective
accounts of beneficial owners of the Notes represented thereby (or such other accounts as they may direct). The Global Notes shall bear the legends provided for in the form of Note contained in
Section 2.2 of this Third Supplemental Indenture and may be exchanged in whole or in part for Notes registered, and transfers of Global Notes in whole or in part may be registered, in the name
or names of Persons other than the Depositary only as set forth herein and in the Indenture. 

    The
Notes shall have the benefit of the covenants set forth in Article Three of this Third Supplemental Indenture, in addition to the covenants set forth in Article Ten of the
Existing Indenture. 

    Unless
the context otherwise requires, the Original Notes and the Exchange Notes shall constitute one series for all purposes under the Indenture, including without limitation,
amendments, waivers and redemptions. 

    The
Notes shall be issuable only in registered form without coupons and only in denominations of $1,000 and integral multiples thereof. 

    The
Notes shall be executed, authenticated, delivered and dated in accordance with Section 303 of the Existing Indenture. 

Section 2.6. Restricted Securities Legend  

    (a) Subject
to the following clauses of this Section 2.6, Restricted Notes and their respective Successor Securities shall bear the legends required by
Section 2.2 hereof (the "Restricted Securities 

Legend"). Registered Notes shall not bear the legend required for Restricted Securities. The Security Registrar shall distinguish between Restricted Notes and Registered Notes in the Security
Register. 

    (b) At
any time after a Restricted Note may be freely transferred without registration under the Securities Act or without being subject to transfer restrictions
pursuant to the Securities Act, a new Note which does not bear a Restricted Securities Legend may be issued in exchange for or in lieu of such Note or any portion thereof if there is delivered to the
Company such satisfactory evidence, which may include an opinion of independent counsel licensed to practice law in the State of New York, as the Company may require in its sole discretion, or the
Company otherwise determines in its sole discretion that neither the Restricted Securities Legend nor the restrictions on transfer set forth therein are required to ensure that transfers of such Note
will not violate the registration requirements of the Securities Act. The Trustee, at the written direction of the Company, shall authenticate and deliver in exchange for such Note another Note or
Notes having an equal aggregate principal amount that does not bear the Restricted Securities Legend as provided in the Indenture. 

    (c) Notwithstanding
the foregoing provisions of this Section 2.6, a Successor Security of a Note that does not bear a Restricted Securities Legend shall not bear
such legend unless the Company has reasonable cause to believe that such Successor Security is a "restricted security" within the meaning of Rule 144 under the Securities Act, in which case the
Trustee, at the written direction of the Company, shall
authenticate and deliver the Successor Security bearing a Restricted Securities Legend as provided in this Indenture. 

 
 

ARTICLE THREE    
    
    COVENANTS    
  

Section 3.1. Limitations on Liens  

    Nothing in this Indenture or in the Notes shall in any way restrict or prevent the Company or any Subsidiary from incurring any debt; provided that the Company
covenants and agrees that neither it nor any Subsidiary will issue, incur, create, assume or guarantee any debt secured by Liens upon any Principal Property, without effectively providing that the
Notes then Outstanding and thereafter created (together with, if the Company so determines, any other debt then existing and any other debt thereafter created ranking equally with the Notes) shall be
secured equally and ratably with, or prior to, such debt as long as such debt shall be so secured, except that the foregoing provisions shall not apply to: 

  (a)(i) Liens
securing all or any part of the purchase price or the cost of construction of property acquired or constructed by the Company or a Subsidiary, provided
such debt and related Lien are incurred within 12 months after acquisition, or completion of construction and full operation, whichever is later; 

    (ii) Liens
on property owned by the Company or a Subsidiary securing all or any part of the purchase price or the cost of construction of additions, substantial repairs
or alterations or substantial improvements to such property, provided such debt and related Lien are incurred within 12 months after the completion of such construction, additions, repairs,
alterations or improvements; 

    (b) Liens
existing on property at the time of acquisition of such property by the Company or a Subsidiary or on the property of an entity at the time of the acquisition
of such entity by the Company or a Subsidiary (including acquisitions through merger or consolidation), provided that such Liens were in existence prior
to the closing of, and not incurred in contemplation of, such acquisition and, in the case of the acquisition of an entity, the Liens do not extend to any assets other than those of the entity
acquired; 

    (c) In
the case of a Consolidated Subsidiary, Liens in favor of the Company or another Consolidated Subsidiary; 

    (d) Liens
existing on the date of this Third Supplemental Indenture; 

    (e) Liens in favor of a government or governmental entity that: 

     (i) secure
debt that is guaranteed by the government or governmental entity, or 

    (ii) secure
debt incurred to finance all or some of the purchase price or cost of construction of goods, products or facilities produced under contract or subcontract
for the government or governmental entity; 

     (f) Liens
arising in connection with the transfer of tax benefits in accordance with Section 168(f)(8) of the Code (or any similar provision of law from time to
time in effect); provided, that such Liens (i) are incurred within 90 days (or any longer period, not in excess of one year, as any such provision of law may from time to time permit)
after the acquisition of the property or equipment subject to said Lien, (ii) do not extend to any other property or equipment, and (iii) are solely for the purpose of said transfer of
tax benefits or otherwise permitted by this Section 3.1; 

    (g) Liens
created in substitution of or as replacements for any Liens permitted by clauses (a) to (f) set forth herein, provided that, based on a good
faith determination of the Board of Directors of the Company, the property encumbered by any substitute or replacement Lien is substantially similar in nature to and no greater in value than the
property encumbered by the otherwise permitted Lien that is being replaced; and 

    (h) Any
extension, renewal or replacement (or successive extensions, renewals or replacements), in whole or in part, of any Lien referred to in the foregoing clauses
(a) to (g) inclusive or of any debt secured thereby; provided that the principal amount of debt secured thereby shall not exceed the principal amount of debt so secured at the time of
such extension, renewal or replacement, and that such extension, renewal or replacement Lien shall be limited to all or part of the same property that secured the Lien extended, renewed or replaced
(plus improvements on such property). 

Section 3.2. Limitations on Sale and Lease-Back Transactions  

    The Company covenants and agrees that neither it nor any Subsidiary will enter into any arrangement with any Person (other than the Company or a Subsidiary),
or to which any such Person is a party, providing for the leasing to the Company or a Subsidiary for a period of more than three years of any Principal Property that has been or is to be sold or
transferred by the Company or such Subsidiary to such Person or to any other Person (other than the Company or a Subsidiary), to which the funds have been or are to be advanced by such Person on the
security of the leased property (herein referred to as "Sale and Lease-Back Transactions") unless either: 

     (i) the
Company or such Subsidiary would be entitled, pursuant to Section 3.1, to incur debt secured by a Lien on the property to be leased, without equally and
ratable securing the Notes, or 

    (ii) the
Company (and in any such case the Company covenants and agrees that it will do so) during or immediately after the expiration of 120 days after the
effective date of such Sale and Lease-Back Transaction (whether made by the Company or a Subsidiary) applies an amount equal to the value of such Sale and Leaseback Transaction to the
acquisition, construction, addition, reparation, alteration or improvement of a Principal Property and/or to the voluntary retirement of any debt of the Company which would be defined as
long-term debt on a balance sheet prepared in accordance with generally accepted accounting principles. 

    For
purposes of this Section 3.2, the term "value" shall mean, with respect to a Sale and Lease-Back Transaction, as of any particular time, the amount equal to the
net proceeds of the sale or transfer of the property leased pursuant to such Sale and Lease-Back Transaction divided first by the number of full years of the term of the lease and then
multiplied by the number of full years of such term remaining at the time of determination, without regard to any renewal or extension options contained in the lease. 

Section 3.3. Exception to Limitations  

    Notwithstanding the provisions of Sections 3.1 and 3.2, the Company and any Subsidiary may issue, incur, create, assume or guarantee debt secured by Liens and
enter into Sale and Lease-Back Transactions that would otherwise be subject to the restrictions in Sections 3.1 and 3.2, respectively, provided (a) the aggregate outstanding
principal amount of all other debt of the Company and its Subsidiaries that is subject to the restrictions in Section 3.1 (not including debt permitted to be secured under clauses (a) to
(f) inclusive of Section 3.1), plus (b) the aggregate Attributable Debt in respect of the Sale and Lease-Back Transactions in existence at such time (not including
Sale and Lease-Back
Transactions permitted by Section 3.2(i) or (ii)), does not exceed 15% of the Consolidated Net Tangible Assets. 

Section 3.4. Waiver of Certain Covenants  

    The Company may, with respect to the Notes, omit in any particular instance to comply with any term, provision or condition set forth in any particular
instance to comply with any term, provision or condition set forth in any covenant in any of Sections 3.1 or 3.2, if before the time for such compliance the Holders of at least a majority in principal
amount of the Outstanding Notes shall, by Act of such Holders, either waiver such compliance in such instance or generally waive compliance with such term, provision or condition, but no such waiver
shall extend to or effect such term, provision or condition except to the extent so expressly waived, and, until such waiver shall become effective, the obligations of the Company and the duties of
the Trustee in respect of any such term, provision or condition shall remain in full force and effect. No supplemental indenture shall, without the consent of the Holder of each Outstanding Note
affected thereby, modify any of the provisions of this Section 3.4, except to increase the percentage required to waive compliance by the Company of the covenants referenced here, provided,
however, that this clause shall not be deemed to require the consent of any Holder with respect to changes in the references to "the Trustee" and concomitant changes in this Section 3.4. 

 
 

ARTICLE FOUR    
    
    MISCELLANEOUS    
  

Section 4.1. Conditions Precedent  

    The effectiveness of this Third Supplemental Indenture is conditioned upon the receipt by the Trustee of the items specified in Section 903 of the
Existing Indenture. 

Section 4.2. Relationship to Existing Indenture  

    The Third Supplemental Indenture is a supplemental indenture within the meaning of the Existing Indenture. The Existing Indenture, as supplemented and amended
by this Third Supplemental Indenture is in all respects ratified, confirmed and approved and, with respect to the Notes, the Existing Indenture, as supplemented and amended by this Third Supplemental
Indenture, shall be read, taken and construed as one and the same instrument. 

Section 4.3. Modification of the Existing Indenture  

    Except as expressly modified by this Third Supplemental Indenture, the provisions of the Existing Indenture shall govern the terms and conditions of the Notes. 

Section 4.4. Governing Law  

    This instrument shall be governed by and construed in accordance with the laws of the State of New York, without regard to conflicts of laws principles
thereof. 

Section 4.5. Counterparts  

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

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

	 	 	TENET HEALTHCARE CORPORATION
	

 	
 	

By:	
 	

/s/ STEPHEN D. FARBER   

	 	 	Name:	 	Stephen D. Farber
	 	 	Title:	 	Senior Vice President and Treasurer

	

 	
 	

 	
 	

 
	 	 	THE BANK OF NEW YORK,

as Trustee
	

 	
 	

By:	
 	

/s/ STACEY B. POINDEXTER   

	 	 	Name:	 	Stacey B. Poindexter
	 	 	Title:	 	Assistant Treasurer

QuickLinks

Exhibit 4.4

R E C I T A L S

ARTICLE ONE DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

ARTICLE TWO GENERAL TERMS AND CONDITIONS OF THE NOTES

ARTICLE THREE COVENANTS

ARTICLE FOUR MISCELLANEOUS<PAGE>

                                                                     Exhibit 4.1

THIS WARRANT AND THE COMMON STOCK ISSUABLE WITH RESPECT HERETO HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY APPLICABLE BLUE
SKY ACTS AND MAY BE TRANSFERRED OR SOLO ONLY PURSUANT TO REGISTRATION UNDER SUCH
ACTS, OR TO EXEMPTIONS THEREUNDER.

                             TARGETED THERAPY, INC.
                             an Oklahoma corporation
                                 (the "Company")

                                   May 5, 2000

                     For the Purchase of 2,000 Shares of the
                     Company's Common Stock, $.01 par value

                          COMMON STOCK PURCHASE WARRANT
                                     NO. 001

         This certifies that Acceleration Venture Management LLC, an Oklahoma
limited liability company, or such person's registered assigns (the "Warrant
Holder"), is entitled, subject to the terms and conditions hereinafter set forth
at any time on or before May 5, 2005, to purchase from time to time up to a
total of Two Thousand (2,000) shares of the Company's common stock, $.01 par
value (the "Common Stock"), at a price per share of $7.50 (the "Purchase
Price"). The number of shares of Common Stock purchasable under this Common
Stock Purchase Warrant (the "Warrant") and the Purchase Price thereof shall be
subject to adjustment as hereinafter provided.

         Upon presentation and surrender of this Warrant, together with payment
of the Purchase Price for the shares of Common Stock thereby purchased, at the
office of the Company's Transfer Agent for the transfer of such stock or, if at
any time there is no such Transfer Agent, at the principal office of the
Company, the Warrant Holder shall be entitled to receive a certificate or
certificates for the shares of Common Stock so purchased (the "Shares"). All
Shares that may be issued upon the exercise of this Warrant will, upon issuance,
be fully paid, nonassessable, and free from all taxes, liens, and charges with
respect thereto.

         This Warrant is subject to the following additional terms and
conditions:

         1. EXERCISE OF WARRANT.

            1.1. AT WARRANT HOLDER'S OPTION. This Warrant may be exercised at
any time on or before May 5, 2005 (the "Termination Date"), and the purchase
rights represented hereby are exercisable solely at the Warrant Holder's option.
If the Warrant Holder does not exercise its right to purchase the number of
shares of Common Stock designated herein, this Warrant shall automatically
expire on the Termination Date. In the event the Warrant Holder purchases less
than all the shares purchasable under this Warrant, the Company shall cancel
this Warrant upon the surrender hereof and execute and deliver a new Warrant of
like tenor for the balance of the shares purchasable hereunder.

<PAGE>

            1.2. PAYMENT OF PURCHASE PRICE. The Purchase Price shall be payable
in any one of the following ways, or in any combination thereof:

                  (i) CASH. The Purchase Price is payable in cash or by
certified or bank cashier's check in lawful funds of the United States of
America.

                  (ii) CANCELLATION OF INDEBTEDNESS. The Purchase Price is
payable through the cancellation of indebtedness owed by the Company to the
Warrant Holder.

                  (iii) COMMON STOCK. The Purchase Price is payable by delivery
to the Company of shares of the Company's Common Stock owned by the Warrant
Holder. The shares of Common Stock constituting such payment shall be valued at
Fair Market Value on the date of delivery. For purposes of this Warrant, "Fair
Market Value" of a share of Common Stock on a given day means the average of one
of the following prices for the five trading days immediately preceding such
given day of valuation: (i) if the Common Stock is listed on an established
stock exchange or exchanges or the Nasdaq National Market System, the highest
closing sales price of Common Stock as reported thereon; or if not so reported,
(ii) the average of the bid and asked prices, as quoted on the Nasdaq Small Cap
Market, Nasdaq Bulletin Board, or by the National Quotations Bureau. If the
Common Stock shall not be so quoted, the Fair Market Value shall be determined
by the Board of Directors of the Company taking into account all relevant facts
and circumstances, but in no event shall the Fair Market Value so determined by
the Board of Directors be less than the price per share of Common Stock in the
Company's equity financing most recently consummated prior to the valuation
date, with total proceeds to the Company in excess of $1,000,000.

                  (iv) NET-ISSUANCE. In addition to the foregoing methods of
payment, the Warrant Holder may exercise this Warrant, or a portion thereof, and
the Purchase Price shall be payable in connection therewith, by relinquishing
the right under this Warrant to purchase an Exercise Block and, in exchange
therefor, the Warrant Holder shall receive that number of shares of Common Stock
equal to the number of shares constituting the Exercise Block, less a number of
shares equal to the quotient of (i) the aggregate Purchase Price for the
Exercise Block, divided by (ii) the Fair Market Value per share of Common Stock
(determined as of the date of relinquishment). For purposes of this Section
1.2(d), "Exercise Block" shall mean that total number of shares covered by this
Warrant for which the Warrant Holder desires to relinquish as provided herein.

         2. ADJUSTMENTS.

            2.1. ADJUSTMENT TO PURCHASE PRICE. The Purchase Price of the Common
Stock issuable upon exercise of this Warrant shall be subject to adjustment,
from time to time, as follows:

                 (i) (A) If the Company shall issue any Additional Stock (as
hereinafter defined) after the date hereof for a consideration (the "New
Consideration") per shareless than the Purchase Price for the Common Stock
issuable upon exercise of the Warrant in

                                       2
<PAGE>

effect immediately prior to the issuance of such Additional Stock, the Purchase
Price shall be reduced so as to be equal to such New Consideration.

                      (B) No adjustment of the Purchase Price for the Common
Stock issuable upon the exercise of this Warrant shall be made in an amount less
than one cent ($.01) per share, and (except to the limited extent provided for
in subparagraphs (i)(E)(y) and (i)(E)(z) of this Section 2.1) no adjustment of
such Purchase Price shall have the effect of increasing the Purchase Price above
the Purchase Price in effect immediately prior to such adjustment.

                      (C) In the case of the issuance of Common Stock for cash,
the consideration shall be deemed to be the amount of cash paid therefor before
deducting any reasonable discounts, commissions, or other expenses allowed,
paid, or incurred by the Company for any underwriting or otherwise in connection
with the issuance and sale thereof.

                      (D) In the case of the issuance of Common Stock for a
consideration in whole or in part other than cash, the consideration other than
cash shall be deemed to be the fair value thereof as determined by the Company's
Board of Directors irrespective of any accounting treatment.

                      (E) In the case of the issuance of options to purchase or
rights to subscribe for Common Stock, securities that by their terms are
convertible into or exchangeable for Common Stock, or options to purchase or
rights to subscribe for such convertible or exchangeable securities (which are
not excluded from the definition of Additional Stock):

                          (w) the aggregate maximum number of shares of Common
Stock deliverable upon exercise of such options to purchase or rights to
subscribe for Common Stock shall be deemed to have been issued at the time such
options or rights were issued and for a consideration equal to the consideration
(determined in the manner provided in subparagraphs (i)(C) and (i)(D) of this
Section 2.1), if any, received by the Company upon the issuance of such options
or rights, plus the minimum purchase price provided in such options or rights
for the Common Stock covered thereby;

                          (x) the aggregate maximum number of shares of Common
Stock deliverable upon conversion of or in exchange for any such convertible or
exchangeable securities or upon the exercise of options to purchase or rights to
subscribe for such convertible or exchangeable securities and subsequent
conversion or exchange thereof shall be deemed to have been issued at the time
such convertible or exchangeable securities were issued or such options or
rights were issued and for a consideration equal to the consideration, if any,
received by the Company for any such convertible or exchangeable securities and
related options or rights (excluding any cash received on account of accrued
interest or accrued dividends), plus the additional consideration, if any, to be
received by the Company upon the conversion or exchange of such securities or
the exercise of any related options or rights (the consideration in each case to
be determined in the manner provided in subparagraphs (i)(C) and (i)(D) of this
Section 2.1);

                                       3
<PAGE>

                          (y) upon any change in the number of shares of Common
Stock deliverable upon exercise of such options or rights or conversion of or
exchange for such convertible or exchangeable securities, the Purchase Price as
then in effect shall forthwith be readjusted to such Purchase Price as would
have been obtained had the adjustment made upon the issuance of such options,
rights, or securities not convened prior to such change or options or rights
related to such securities not converted prior to such change been made upon the
basis of such change, but no further adjustment shall be made for the actual
issuance of Common Stock upon the exercise of any such options or rights or the
conversion or exchange of such securities;

                          (z) upon the expiration of any such options or
rights, the termination of any such rights to convert or exchange or the
expiration of any options or rights related to such convertible or exchangeable
securities, the Purchase Price shall forthwith be readjusted to such Purchase
Price as would have been obtained had the adjustment made upon the issuance of
such options, rights, or securities or options or rights related to such
securities been made upon the basis of the issuance of only the number of shares
of Common Stock actually issued upon the exercise of such options or rights,
upon the conversion or exchange of such securities, or upon the exercise of the
options or rights related to such securities.

                   (ii) "Additional Stock" for purposes of this Warrant shall
mean any shares of the Company's Common Stock issued by the Company in
conjunction with or after the determination of the Purchase Price as specified
hereinabove, other than:

                        (A) Common Stock issued pursuant to a transaction
described in Section (iii) hereof;

                        (B) Common Stock issuable or issued to officers,
directors, employees, or consultants of the Company, whether directly or
pursuant to the exercise of options, on terms that have been approved by the
Company's Board of Directors; and

                        (C) Common Stock issued or issuable upon conversion of
any shares of the Company's outstanding Preferred Stock or upon exercise of this
Warrant or any other stock warrants issued contemporaneously herewith or issued
and outstanding as of the date hereon.

                   (iii) If the number of shares of Common Stock outstanding at
any time after the date hereof is increased by a stock dividend payable in
shares of Common Stock or by a subdivision payable in shares of Common Stock or
by a subdivision or split-up of shares of the Company's Common Stock, then,
following the record date fixed for the determination of holders of Common Stock
entitled to receive such stock dividend, subdivision, or split-up, the Purchase
Price for the Common Stock issuable upon the exercise of this Warrant shall be
appropriately decreased so that the number of shares of Common Stock issuable
upon the exercise of this Warrant will be increased in proportion to such
increase in the number of outstanding shares of the Company's Common Stock.

                   (iv) If the number of shares of Common Stock outstanding at
any time after the date hereof is decreased by a combination or reverse stock
split of the outstanding

                                       4
<PAGE>

shares of the Company's Common Stock, then, following the record date of such
combination or reverse stock split, the Purchase Price for the Common Stock
shall be appropriately increased so that the number of shares of Common Stock
issuable upon the exercise of this Warrant will be decreased in proportion to
such decrease in the number of outstanding shares of Common Stock.

             2.2. ADJUSTMENT TO NUMBER OF SHARES PURCHASABLE UNDER WARRANT. Upon
any adjustment to the Purchase Price, the number of shares purchasable under
this Warrant shall be adjusted to equal the product of (i) the number of shares
of Common Stock purchasable under this Warrant immediately prior to such
adjustment to the Purchase Price and (ii) the quotient of (A) the Purchase Price
in effect immediately prior to such adjustment divided by (B) the Purchase Price
in effect immediately after such adjustment.

             2.3. WARRANT NEED NOT BE CHANGED TO REFLECT ADJUSTMENTS. This
Warrant need not be changed to reflect any adjustment or changes in the Purchase
Price.

             2.4. REORGANIZATION, MERGER, ETC. If any capital reorganization or
reclassification of the capital stock of the Company, or consolidation or merger
of the Company with another corporation or entity, or the sale or conveyance of
all or substantially all of the Company's assets to another corporation or
entity shall be effected, then, as a condition of such reorganization,
reclassification, consolidation, merger, sale, or conveyance, lawful and
adequate provision shall be made whereby the Warrant Holder shall thereafter
have the right to purchase and receive upon the basis and upon the terms and
conditions specified in this Warrant and in lieu of the shares of Common Stock
immediately theretofore purchasable and receivable upon the exercise of the
rights represented hereby, such shares of stock, securities, or assets as may be
issued or payable with respect to or in exchange for a number of outstanding
shares of such Common Stock equal to the number of shares of such Common Stock
immediately theretofore purchasable and receivable upon the exercise of the
rights represented hereby had such reorganization, reclassification,
consolidation, merger, sale, or conveyance not taken place, and, in any such
case, appropriate provision shall be made with respect to the rights and
interests of the Warrant Holder such that the provisions hereof (including,
without limitation, provisions for adjustment of the Purchase Price) shall
thereafter be applicable, as nearly as may be, to any stock, securities, or
assets thereafter deliverable upon the exercise hereof.

             The Company shall not effect any consolidation, merger, or sale of
all or substantially all of its assets to any other corporation or entity,
unless prior to or simultaneously with the consummation thereof the successor
corporation or entity (if other than the Company) resulting from such
consolidation or merger, or the corporation or entity purchasing such assets,
shall assume, by written instrument executed and mailed or delivered to the
Warrant Holder at the address indicated in Section 7 hereof, the obligation of
such corporation or entity to deliver to such Warrant Holder shares of stock,
securities, or assets as, in accordance with the provisions of this Warrant,
such Warrant Holder may be entitled to purchase, and to perform and observe each
and every covenant and condition of this Warrant to be performed and observed by
the Company.

                                       5
<PAGE>

             2.5. NOTICE TO WARRANT HOLDER OR WARRANT HOLDERS.

                  (i) Upon any adjustment of the Purchase Price, the Company,
within thirty (30) days thereafter, shall give written notice thereof, pursuant
to Section 7 hereof, which notice shall state the adjusted Purchase Price
setting forth in reasonable detail the method of calculation and the facts
(including a statement of the consideration received or deemed to have been
received by the Company for any additional shares or convertible or exchangeable
securities or rights or options) upon which such calculations are based. Where
appropriate, such notice may be given in advance and be included as part of the
notice required to be mailed pursuant to the provisions of paragraph (b) of this
Section 2.5.

                  (ii) In case at any time:

                       (A) the Company shall declare any dividend upon its
Common Stock payable otherwise than in cash or in the Common Stock of the
Company or payable otherwise than out of net income for a twelve (12) month
period ending not earlier than ninety (90) days prior to the date of payment of
such dividend; or

                       (B) the Company shall offer for subscription to the
holders of its Common Stock any additional shares of stock of any class or any
other securities convertible into or exchangeable for shares of stock or any
rights or options to subscribe thereto; or

                       (C) there shall be any capital reorganization or
reclassification of the capital stock of the Company, or a sale or conveyance of
all or substantially all of the assets of the Company, or a consolidation or
merger of the Company with another corporation or entity; or

                       (D) there shall be a voluntary or involuntary
dissolution, liquidation, or winding up of the Company; or

                       (E) the Company intends to issue or has issued any Common
Stock or rights convertible into Common Stock for a per share consideration of
less than the Purchase Price, then, in any one or more of said cases, the
Company shall give written notice, pursuant to Section 7 hereof, at the earliest
time legally practicable (and, unless otherwise impossible for a legal reason,
not less than thirty (30) days before any record date or other date set for
definitive action) of the date as of which (y) the books of the Company shall
close or a record date shall be taken for such dividend, distribution, or
subscription rights or options, or (z) such reorganization, reclassification,
sale, conveyance, consolidation, merger, dissolution, liquidation, or winding up
shall take place, as the case may be. Such notice shall also specify the date as
of which the holders of the Common Stock of record shall participate in said
dividend, distribution, subscription rights, or options or shall be entitled to
exchange their Common Stock for securities or other property deliverable upon
such reorganization, reclassification, sale, conveyance, consolidation, merger,
dissolution, liquidation, or winding up, as the case may be (on which date, in
the event of voluntary or involuntary dissolution, liquidation, or winding up of
the Company, the right to exercise this Warrant shall cease and terminate).

             2.6. CONDITIONS NOT SPECIFICALLY COVERED. In case at any time
conditions shall arise by reason of action taken by the Company, which, in the
good faith judgment of the

                                       6
<PAGE>

Company's Board of Directors, are not adequately covered by the limited
antidilution provisions of this Warrant so as to potentially materially and
adversely affect the rights of the Warrant Holder or Warrant Holders, or, in
case at any time any such conditions are expected to arise by reason of any
action contemplated by the Company, its Board of Directors shall appoint a firm
of independent certified public accountants of recognized standing (which may be
the firm that regularly examines the Company's financial statements), who shall
give an opinion as to the adjustment, if any (not inconsistent with the
standards established in this Section 2 hereof), of the Purchase Price, which
is, or would be, required to preserve, without dilution, the rights of the
Warrant Holder or Warrant Holders to the extent provided herein. The Company's
Board of Directors shall make the adjustment recommended forthwith upon the
receipt of such opinion or the taking of any such action contemplated, as the
case may be.

         3. STATUS OF WARRANT HOLDERS. This Warrant does not entitle the Warrant
Holder or Warrant Holders hereof to any rights as a shareholder of the Company.

         4. REMEDIES. The Company stipulates that the remedies at law of the
Warrant Holder or Warrant Holders in the event of any default or threatened
default by the Company in the performance of or compliance with any of the terms
of this Warrant are not and will not be adequate, and that such terms may be
specifically enforced by a decree for the specific performance of any agreement
contained herein or by an injunction against a violation of any of the terms
hereof or otherwise.

         5. RESERVATION OF SHARES. The Company shall reserve and keep available
a sufficient number of shares of Common Stock to satisfy the requirements of
this Warrant. Before taking any action that would cause a reduction of the
Purchase Price below the then current par value of the shares of Common Stock
issuable upon exercise of this Warrant, the Company will take any corporate
action that may, in the opinion of its counsel, be necessary in order that the
Company may validly and legally issue fully paid and nonassessable shares of
such Common Stock at such adjusted Purchase Price.

         6. ASSIGNMENT. This Warrant shall be binding upon and inure to the
benefit of the Company, the Warrant Holder, and their respective successors and
assigns.

         7. NOTICES. All notices, requests, consents, and other communications
hereunder shall be in writing and shall be deemed to have been given when
personally delivered, mailed first class (postage prepaid), or delivered to a
telegraph office:

            (i) if to the Warrant Holder, at the address of such Warrant Holder
as shown on the books of the Company.

            (ii) if to the Company, at 800 Research Parkway, Suite 200, Oklahoma
City, Oklahoma 73104, to the attention of the corporate Secretary, or at such
other address as may have been furnished to the Warrant Holder in writing.

         8. HEADINGS. The headings of the Sections and subsections of this
Warrant are inserted for convenience only and shall not be deemed to constitute
a part of this Warrant.

                                       7
<PAGE>

         IN WITNESS WHEREOF, this Warrant has been duly executed by its duly
authorized officer as of the date first above written.

                                   TARGETED THERAPY, INC.
                                   an Oklahoma corporation

                                   By:    /s/ JOHN F. CROWLEY
                                          -------------------------------------
                                          John F. Crowley
                                          President and Chief Executive Officer

                                       8

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