NORTHFIELD LABORATORIES INC.



                                       TO



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



                                   AS TRUSTEE



                                    INDENTURE



                          DATED AS OF ___________, 200_



                             SENIOR DEBT SECURITIES



{PAGE}



{TABLE}

{S}                                                                                                           {C}

ARTICLE I DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION..........................................    1

         SECTION 1.1 DEFINITIONS...........................................................................    1

         SECTION 1.2 COMPLIANCE CERTIFICATES AND OPINIONS..................................................    8

         SECTION 1.3 FORM OF DOCUMENTS DELIVERED TO TRUSTEE................................................    8

         SECTION 1.4 ACTS OF HOLDERS; RECORD DATES.........................................................    9

         SECTION 1.5 NOTICES, ETC., TO TRUSTEE AND COMPANY.................................................   10

         SECTION 1.6 NOTICE TO HOLDERS; WAIVER.............................................................   11

         SECTION 1.7 CONFLICT WITH TRUST INDENTURE ACT.....................................................   11

         SECTION 1.8 EFFECT OF HEADINGS AND TABLE OF CONTENTS..............................................   11

         SECTION 1.9 SUCCESSORS AND ASSIGNS................................................................   11

         SECTION 1.10 SEPARABILITY CLAUSE..................................................................   12

         SECTION 1.11 BENEFITS OF INDENTURE................................................................   12

         SECTION 1.12 GOVERNING LAW........................................................................   12

         SECTION 1.13 LEGAL HOLIDAYS.......................................................................   12

         SECTION 1.14 INDENTURE AND SECURITIES SOLELY CORPORATE OBLIGATIONS................................   12

         SECTION 1.15 INDENTURE MAY BE EXECUTED IN COUNTERPARTS............................................   12

ARTICLE 2 SECURITY FORMS...................................................................................   13

         SECTION 2.1 FORMS GENERALLY.......................................................................   13

         SECTION 2.2 FORM OF FACE OF SECURITY..............................................................   13

         SECTION 2.3 FORM OF REVERSE OF SECURITY...........................................................   15

         SECTION 2.4 FORM OF LEGEND FOR GLOBAL SECURITIES..................................................   19

         SECTION 2.5 FORM OF TRUSTEE'S CERTIFICATE OF AUTHENTICATION.......................................   20

         SECTION 2.6 FORM OF CONVERSION NOTICE.............................................................   20

ARTICLE 3 THE SECURITIES...................................................................................   21

         SECTION 3.1 AMOUNT UNLIMITED; ISSUABLE IN SERIES..................................................   21

         SECTION 3.2 DENOMINATIONS.........................................................................   24

         SECTION 3.3 EXECUTION, AUTHENTICATION, DELIVERY AND DATING........................................   24

         SECTION 3.4 TEMPORARY SECURITIES..................................................................   26

Home        Intelligence        Services        Subscriptions        News        About Us

Contact Us       Terms of Use       Resend Documents       Shopping Cart

Copyright © 2008 The Consus Group LLC