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Title:

Notes

Entities:

Cede & Co.; Dow Chemical Co.; First National Bank of Chicago; Salomon Smith Barney Inc.; Smith Barney Inc.; Bank One Trust Company, N.A.

Date:

2002

Size:

Preview shows 7KB of 33KB total

Price:

$43

ID:

#210649

 

 

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► Miscellany ► Fortune 100
► Financial
► Commodities ► Plastic & Rubber

 

 

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5.75% NOTES DUE NOVEMBER 15, 2009

Section 1. General. This Note is one of a duly authorized issue of
securities of the Company (herein called the "Securities"), issued and to be
issued in one or more series under an Indenture, dated as of April 1, 1992, as
supplemented by a supplemental indenture dated as of January 1, 1994, a second
supplemental indenture dated as of October 1, 1999, and a third supplemental
indenture dated as of May 15, 2001 (the "Indenture"), between the Company and
Bank One Trust Company, N.A., as successor in interest to The First National
Bank of Chicago, as Trustee (herein called the "Trustee", which term includes
any successor trustee under the Indenture), to which Indenture and all
indentures supplemental thereto reference is hereby made for a statement of the
respective rights, limitations of rights, duties and immunities thereunder of
the Company, the Trustee and the Holders of the Securities and of the terms upon
which the Securities are, and are to be, authenticated and delivered. This
Security is one of the Securities of the series designated on the face hereof.

Section 2. Payment of Additional Amounts. The Company shall pay to any
Holder who is a Non-United States person (as defined below) such Additional
Amounts as may be necessary in order that every net payment in respect of the
principal, premium, if any, or interest, if any, on this Security, after
deduction or withholding by the Company or any Paying Agent for or on account of
any present or future tax, assessment or governmental charge imposed upon or as
a result of such payment by the United States or any political subdivision or
taxing authority thereof or therein, shall not be less than the amount provided
for herein to be then due and payable before any such deduction or withholding
for or on account of any such tax, assessment or governmental charge; provided,
however, that the foregoing obligation to pay such Additional Amounts shall not
apply to:

(a) any tax, assessment or other governmental charge which would not
have been so imposed but for:

(i) the existence of any present or former connection between
such Holder (or a fiduciary, settlor, beneficiary, member or
shareholder of, or holder of a power over, such Holder, if such Holder
is an estate, trust, partnership or corporation) and the United
States, including, without limitation, such Holder (or such fiduciary,
settlor, beneficiary, member, shareholder of, or holder of a power)
being or having been a citizen or resident or treated as a resident
thereof or being or having been engaged in a trade or business therein
or being or having been present therein or having or having had a
permanent establishment therein; or

(ii) such Holder's present or former status as a personal holding
company or foreign personal holding company or controlled foreign
corporation for United States federal income tax purposes or
corporation which accumulates

5

{PAGE}

earnings to avoid United States federal income tax;

(b) any tax, assessment or other governmental charge which
would not have been so imposed but for the presentation by the Holder
for payment on a date more than 10 days after the date on which such
payment became due and payable or the date on which payment thereof is
duly provided for, whichever occurs later;

(c) any estate, inheritance, gift, sales, transfer, personal
property or excise tax or any similar tax, assessment or governmental
charge;

(d) any tax, assessment or other governmental charge which is
payable otherwise than by withholding from payments in respect of
principal of, premium, if any, or interest, if any, on this Security;

(e) any tax, assessment or other governmental charge imposed
on interest received by a Holder or beneficial owner of this Security
who actually or constructively owns 10% or more of the total combined
voting power of all classes of stock of the Company entitled to vote
within the meaning of Section 871(h)(3) of the United States Internal
Revenue Code of 1986, as amended;

(f) any tax, assessment or other governmental charge imposed
as a result of the failure to comply with:

(i) certification, information, documentation, reporting
or other similar requirements concerning the nationality,
residence, identity or connection with the United States of
the Holder or beneficial owner of this Security, if such
compliance is required by statute, or by regulation of the
United States Treasury Department, as a precondition to relief
or exemption from such tax, assessment or other governmental
charge (including backup withholding); or

(ii) any other certification, information, documentation,
reporting or other similar requirements under United States
income tax laws or regulations that would establish
entitlement to otherwise applicable relief or exemption from
such tax, assessment or other governmental charge;

(g) any tax, assessment or other governmental charge required
to be withheld by any Paying Agent from any payment of the principal
of, premium, if any, or interest, if any, on this Security, if such
payment can be made without such withholding by at least one other
Paying Agent;

(h) any tax, assessment or other governmental charge that is
required to be made pursuant to any European Union directive on the
taxation of savings income or any law implementing or complying with,

 

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